Document:

EX-10.18

 Exhibit 10.18 
  

 
 CANADA GOOSE HOLDINGS INC.

 OMNIBUS INCENTIVE PLAN 
  

 
 ●, 2017

 TABLE OF CONTENTS 

 

							
	 Article 1 INTERPRETATION
	  	 	1	 
			
	 Section 1.1
	 	 Definitions
	  	 	1	 
	 Section 1.2
	 	 Interpretation
	  	 	7	 
		
	 Article 2 PURPOSE AND ADMINISTRATION OF THE PLAN; GRANTING OF AWARDS
	  	 	8	 
			
	 Section 2.1
	 	 Purpose of the Plan
	  	 	8	 
	 Section 2.2
	 	 Implementation and Administration of the Plan
	  	 	8	 
	 Section 2.3
	 	 Participation in this Plan
	  	 	9	 
	 Section 2.4
	 	 Shares Subject to the Plan
	  	 	10	 
	 Section 2.5
	 	 Limits with Respect to Insiders and Individual Limits
	  	 	11	 
	 Section 2.6
	 	 Granting of Awards
	  	 	12	 
		
	 Article 3 UNVESTED SHARES
	  	 	12	 
			
	 Section 3.1
	 	 Nature of Unvested Shares
	  	 	12	 
	 Section 3.2
	 	 Unvested Share Awards
	  	 	13	 
	 Section 3.3
	 	 Payment to Participant
	  	 	13	 
	 Section 3.4
	 	 Unvested Share Agreements
	  	 	14	 
		
	 Article 4 OPTIONS
	  	 	14	 
			
	 Section 4.1
	 	 Nature of Options
	  	 	14	 
	 Section 4.2
	 	 Option Awards
	  	 	14	 
	 Section 4.3
	 	 Option Price
	  	 	15	 
	 Section 4.4
	 	 Option Term
	  	 	15	 
	 Section 4.5
	 	 Exercise of Options
	  	 	15	 
	 Section 4.6
	 	 Method of Exercise and Payment of Purchase Price
	  	 	15	 
	 Section 4.7
	 	 Option Agreements
	  	 	16	 
		
	 Article 5 RESTRICTED SHARE UNITS
	  	 	16	 
			
	 Section 5.1
	 	 Nature of RSUs.
	  	 	16	 
	 Section 5.2
	 	 RSU Awards
	  	 	16	 
	 Section 5.3
	 	 Restriction Period
	  	 	17	 
	 Section 5.4
	 	 RSU Vesting Determination Date
	  	 	17	 
	 Section 5.5
	 	 Settlement of RSUs.
	  	 	17	 
	 Section 5.6
	 	 Determination of Amounts
	  	 	18	 
	 Section 5.7
	 	 RSU Agreements
	  	 	18	 
	 Section 5.8
	 	 Award of Dividend Equivalents
	  	 	18	 
		
	 Article 6 SHARE APPRECIATION RIGHTS
	  	 	19	 
			
	 Section 6.1
	 	 Nature of SARs.
	  	 	19	 
	 Section 6.2
	 	 SAR Awards
	  	 	19	 
	 Section 6.3
	 	 SAR Price
	  	 	19	 

							
	 Section 6.4
	 	 SAR Term
	  	 	19	 
	 Section 6.5
	 	 Exercise of SARs.
	  	 	20	 
	 Section 6.6
	 	 Method of Exercise
	  	 	20	 
	 Section 6.7
	 	 SAR Agreements
	  	 	21	 
		
	 Article 7 GENERAL CONDITIONS
	  	 	21	 
			
	 Section 7.1
	 	 General Conditions Applicable to Awards
	  	 	21	 
	 Section 7.2
	 	 General Conditions Applicable to Options and SARs.
	  	 	22	 
	 Section 7.3
	 	 General Conditions Applicable to RSUs.
	  	 	23	 
	 Section 7.4
	 	 General Conditions Applicable to Unvested Shares
	  	 	25	 
		
	 Article 8 COMPLIANCE WITH U.S. TAX LAWS
	  	 	25	 
			
	 Section 8.1
	 	 Compliance with Section 162(m) and Other Limits
	  	 	25	 
	 Section 8.2
	 	 Performance Based Exception Under Section 162(m)
	  	 	26	 
	 Section 8.3
	 	 Incentive Stock Options
	  	 	28	 
	 Section 8.4
	 	 Section 409A
	  	 	28	 
		
	 Article 9 ADJUSTMENTS AND AMENDMENTS
	  	 	29	 
			
	 Section 9.1
	 	 Adjustment to Shares Subject to Outstanding Awards
	  	 	29	 
	 Section 9.2
	 	 Change of Control
	  	 	29	 
	 Section 9.3
	 	 Amendment or Discontinuance of the Plan
	  	 	30	 
		
	 Article 10 MISCELLANEOUS
	  	 	32	 
			
	 Section 10.1
	 	 Use of an Administrative Agent and Trustee
	  	 	32	 
	 Section 10.2
	 	 Tax Withholding
	  	 	32	 
	 Section 10.3
	 	 Clawback
	  	 	32	 
	 Section 10.4
	 	 Securities Law Compliance
	  	 	33	 
	 Section 10.5
	 	 Reorganization of the Corporation
	  	 	34	 
	 Section 10.6
	 	 Quotation of Shares
	  	 	34	 
	 Section 10.7
	 	 No Fractional Shares
	  	 	34	 
	 Section 10.8
	 	 Governing Laws
	  	 	34	 
	 Section 10.9
	 	 Severability
	  	 	34	 
	 Section 10.10
	 	 Effective Date of the Plan
	  	 	34	 

  
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 CANADA GOOSE HOLDINGS INC. 

OMNIBUS INCENTIVE PLAN 

Canada Goose Holdings Inc. (the “Corporation”) hereby establishes an omnibus incentive plan for certain qualified directors,
executive officers, employees or consultants of the Corporation or any of its Subsidiaries. 
 ARTICLE 1 

INTERPRETATION 
  

	Section 1.1	Definitions. 

 Where used herein or in any amendments hereto or in any communication
required or permitted to be given hereunder, the following terms shall have the following meanings, respectively, unless the context otherwise requires: 

“Account” means an account maintained for each Participant on the books of the Corporation which will be credited with Awards
in accordance with the terms of this Plan; 
 “Affiliates” has the meaning ascribed thereto in National Instrument 45-106 – Prospectus Exemptions; 
 “Associate”, where used to indicate a
relationship with a Participant, means (i) any domestic partner of that Participant and (ii) the spouse of that Participant and that Participant’s children, as well as that Participant’s relatives and that Participant’s
spouse’s relatives, if they share that Participant’s residence; 
 “Award” means any of an Option, a SAR, an
Unvested Share or an RSU granted to a Participant pursuant to the terms of the Plan; 

“Black-Out Period” means a period of time when pursuant to any policies of the
Corporation (including the Corporation’s insider trading policy), any securities of the Corporation may not be traded by certain Persons designated by the Corporation; 

“Board” has the meaning ascribed thereto in Section 2.2(1) hereof; 

“Business Day” means a day other than a Saturday, Sunday or statutory holiday, when banks are generally open for business in
Toronto, Ontario and New York, New York, for the transaction of banking business; 
 “Cash Equivalent” means the amount of
money equal to the Market Value multiplied by the number of vested RSUs in the Participant’s Account, net of any applicable taxes in accordance with Section 10.2, on the RSU Settlement Date; 

“Cause” has the meaning ascribed thereto in Section 7.2(1) hereof; 

 “Change of Control” means, unless the Board determines otherwise, the happening,
in a single transaction or in a series of related transactions, of any of the following events: 
  

	 	(i)	any transaction (other than a transaction described in clause (ii) below) pursuant to which any Person or group of Persons acting jointly or in concert acquires the direct or indirect beneficial ownership of
securities of the Corporation representing 50% or more of the aggregate voting power of all of the Corporation’s then issued and outstanding securities entitled to vote in the election of directors of the Corporation, other than any such
acquisition that occurs (A) upon the exercise or settlement of options or other securities granted by the Corporation under any of the Corporation’s equity incentive plans; or (B) as a result of the conversion of the Multiple Voting
Shares in the capital of the Corporation into Shares; 

  

	 	(ii)	there is consummated an arrangement, amalgamation, merger, consolidation or similar transaction involving (directly or indirectly) the Corporation and, immediately after the consummation of such arrangement,
amalgamation, merger, consolidation or similar transaction, the shareholders of the Corporation immediately prior thereto do not beneficially own, directly or indirectly, either (A) outstanding voting securities representing more than 50% of
the combined outstanding voting power of the surviving or resulting entity in such amalgamation, merger, consolidation or similar transaction or (B) more than 50% of the combined outstanding voting power of the parent of the surviving or
resulting entity in such arrangement, amalgamation merger, consolidation or similar transaction, in each case in substantially the same proportions as their beneficial ownership of the outstanding voting securities of the Corporation immediately
prior to such transaction; 

  

	 	(iii)	the sale, lease, exchange, license or other disposition of all or substantially all of the Corporation’s assets to a Person other than a Person that was an Affiliate of the Corporation at the time of such sale,
lease, exchange, license or other disposition, other than a sale, lease, exchange, license or other disposition to an entity, more than 50% of the combined voting power of the voting securities of which are beneficially owned by shareholders of the
Corporation in substantially the same proportions as their beneficial ownership of the outstanding voting securities of the Corporation immediately prior to such sale, lease, exchange, license or other disposition; 

 

	 	(iv)	 the passing of a resolution by the Board or shareholders of the Corporation to substantially liquidate the assets
of the Corporation or wind up the Corporation’s business or significantly rearrange its affairs in one or more transactions or series of transactions or the commencement of proceedings for such a liquidation,
winding-up or re-arrangement (except where such re-arrangement is part of a bona fide reorganization

  
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of the Corporation in circumstances where the business of the Corporation is continued and the shareholdings remain substantially the same following the
re-arrangement); or 

  

	 	(v)	individuals who, on the Effective Date, are members of the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the members of the Board; provided, however, that if
the appointment or election (or nomination for election) of any new Board member was approved or recommended by a majority vote of the members of the Incumbent Board then still in office, such new member will, for purposes of this Plan, be
considered as a member of the Incumbent Board; 

 provided, however, that any payment considered to be nonqualified deferred
compensation under Section 409A, to the extent applicable, that is payable upon a Change of Control of the Corporation or other similar event, to avoid the imposition of an additional tax, interest or penalty under Section 409A, no amount will be
payable unless such Change of Control constitutes a “change in control event” within the meaning of Section 1.409A-3(i)(5) of the Treasury Regulations; 

“Code” means the United States Internal Revenue Code of 1986, as amended; 

“Corporation” means Canada Goose Holdings Inc., a corporation existing under the Business Corporations Act (British
Columbia), as amended from time to time; 
 “Delay Period” has the meaning ascribed thereto in Section 8.4(3) hereof;

 “Dividend Equivalent” means a cash credit equivalent in value to a dividend paid on a Share credited to a
Participant’s Account; 
 “Eligibility Date” the effective date on which a Participant becomes eligible to receive
long-term disability benefits (provided that, for greater certainty, such effective date shall be confirmed in writing to the Corporation by the insurance company providing such long-term disability benefits); 

“Eligible Participants” means any director, executive officer, employee or consultant of the Corporation or any of its
Subsidiaries; 
 “Employment Agreement” means, with respect to any Participant, any written employment agreement between the
Corporation or a Subsidiary and such Participant; 
 “Exchange Act” means the U.S. Securities Exchange Act of 1934, as
amended; 
 “Exercise Notice” means a notice in writing signed by a Participant and stating the Participant’s intention
to exercise a particular Award, if applicable; 
 “Grant Agreement” means an agreement evidencing the grant to a Participant
of an Award, including an Unvested Share Agreement, an Option Agreement, a SAR Agreement, an RSU Agreement or an Employment Agreement; 

  
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 “Incentive Stock Option” means, in the case of a Participant who is a U.S.
Resident, any Option granted under and in accordance with the terms of Section 8.3 hereof, that meets the requirements of Section 422 of the Code or any successor provision thereto and is designated by the Board in the applicable Grant
Agreement as an Incentive Stock Option; 
 “Insider” means a “reporting insider” as defined in National Instrument
55-104 – Insider Reporting Requirements and Exemptions and includes Associates and affiliates (as such term is defined in Part 1 of the TSX Company Manual) of such “reporting insider”;

 “Legacy Option Plan” means the Canada Goose Holdings Inc. Amended and Restated Stock Option Plan dated
●, 2017, including any amendments or supplements thereto made after the effective date thereof; 
 “Market
Value” means at any date when the Market Value of Shares is to be determined, (i) if the Shares are listed on the TSX, the VWAP on the TSX for the five (5) trading days immediately preceding such date; (ii) if the Shares are
not listed on the TSX, then as calculated in paragraph (i) by reference to the price on any other stock exchange on which the Shares are listed (if more than one, then using the exchange on which a majority of Shares are listed); or
(iii) if the Shares are not listed on any stock exchange, the value as is determined solely by the Board, acting reasonably and in good faith and, in the case of a Participant who is a U.S. Resident, in accordance with Section 409A, and such
determination shall be conclusive and binding on all Persons; 
 “Multiple Voting Shares” means the multiple voting shares
in the capital of the Corporation; 
 “Nonstatutory Stock Option” means, in the case of a Participant who is a U.S.
Resident, any Option which is not an Incentive Stock Option; 
 “NYSE” means the New York Stock Exchange; 

“Option” means an option granted by the Corporation to a Participant entitling such Participant to acquire a designated number
of Shares from treasury at the Option Price, but subject to the provisions hereof; 
 “Option Agreement” means a written
agreement between the Corporation and a Participant evidencing the grant of Options and the terms and conditions thereof, a form of which is attached hereto as Exhibit A; 

“Option Price” has the meaning ascribed thereto in Section 4.2 hereof; 

“Option Term” has the meaning ascribed thereto in Section 4.4 hereof; 

“Participants” means Eligible Participants that are granted Awards under the Plan; 

“Performance Based Exception” means, in the case of a Participant who is a U.S. Resident, the performance-based exception from
the tax deductibility limitations of Section 162(m)(4)(C) of the Code (including, to the extent applicable, the special provision for options thereunder); 

  
 - 4 - 

 “Performance Criteria” means specified criteria, other than the mere
continuation of employment or the mere passage of time, the satisfaction of which is a condition for the grant, exercisability, vesting or full enjoyment of an Award. A Performance Criterion and any targets with respect thereto need not be based
upon an increase, a positive or improved result or avoidance of loss. For purposes of Awards that are intended to qualify for the performance-based compensation exception under Section 162(m), a Performance Criterion will mean an objectively
determinable measure or objectively determinable measures of performance relating to any or any combination of the following (measured either absolutely or by reference to an index or indices and determined either on a consolidated basis or, as the
context permits, on a divisional, subsidiary, line of business, project or geographical basis or in combinations thereof): sales; net sales; sales by location or store type; revenues; assets; expenses; earnings before or after deduction for all or
any portion of interest, taxes, depreciation, and/or amortization, whether or not on a continuing operations or an aggregate or per share basis; return on equity, investment, capital, capital employed or assets; one or more operating ratios;
borrowing levels, leverage ratios or credit rating; market share; capital expenditures; cash flow; operating efficiencies; operating income; net income; share price; shareholder return; sales of particular products or services; customer acquisition
or retention; buyer contribution; acquisitions and divestitures (in whole or in part); joint ventures and strategic alliances; spin-offs, split-ups and the like; reorganizations; or recapitalizations,
restructurings, financings (issuance of debt or equity) or refinancings. To the extent consistent with the requirements for satisfying the performance-based compensation exception under Section 162(m), the Board may provide in the case of any Award
intended to qualify for such exception that one or more of the Performance Criteria applicable to such Award will be adjusted in an objectively determinable manner to reflect events (for example, but without limitation, acquisitions or dispositions)
occurring during the performance period that affect the applicable Performance Criterion or Criteria; 
 “Performance
Period” means the period determined by the Board at the time any Award is granted or at any time thereafter during which any Performance Criteria and any other vesting conditions specified by the Board with respect to such Award are to be
measured; 
 “Person” means an individual, corporation, company, cooperative, partnership, trust, unincorporated
association, entity with juridical personality or governmental authority or body, and pronouns which refer to a Person shall have a similarly extended meaning; 

“Plan” means this Canada Goose Holdings Inc. Omnibus Incentive Plan, including any amendments or supplements hereto made after
the effective date hereof; 
 “Restriction Period” means the period determined by the Board pursuant
to Section 5.3 hereof; 

  
 - 5 - 

 “RSU” means a right awarded to a Participant to receive a payment in the form of
Shares, cash equivalent or a combination thereof as provided in Article 5 hereof and subject to the terms and conditions of this Plan; 

“RSU Agreement” means a written agreement between the Corporation and a Participant evidencing the grant of RSUs and the terms
and conditions thereof; 
 “RSU Settlement Date” has the meaning determined in Section 5.5(1); 

“RSU Vesting Determination Date” has the meaning described thereto in Section 5.4 hereof; 

“SAR” means a right to receive a payment, in cash or in Shares, equal to the appreciation in the Corporation’s Shares
over a specified period, as set forth in the respective SAR Agreement; 
 “SAR Agreement” means a written agreement between
the Corporation and a Participant evidencing the grant of SARs and the terms and conditions thereof; 
 “SAR Price” has the
meaning ascribed thereto in Section 6.2 hereof; 
 “SAR Term” has the meaning ascribed thereto in Section 6.4
hereof; 
 “Section 409A” means Section 409A of the Code and the Treasury Regulations promulgated thereunder; 

“Section 162(m)” means Section 162(m) of the Code and the Treasury Regulations promulgated thereunder; 

“Shares” means the subordinate voting shares in the share capital of the Corporation; 

“Share Compensation Arrangement” means a stock option, stock option plan, employee stock purchase plan, long-term incentive
plan or any other compensation or incentive mechanism involving the issuance or potential issuance of Shares to one or more full-time employees, directors, officers, Insiders, or consultants of the Corporation or a Subsidiary including a share
purchase from treasury by a full-time employee, director, officer, Insider, or consultant which is financially assisted by the Corporation or a Subsidiary by way of a loan, guarantee or otherwise; 

“Stock Exchange” means the TSX or the NYSE or, if the Shares are not listed or posted for trading on any of such stock
exchanges at a particular date, any other stock exchange on which the majority of the trading volume and value of the Shares are listed or posted for trading; 

“Subsidiary” means a corporation, company or partnership that is controlled, directly or indirectly, by the Corporation; 

“Tax Act” means the Income Tax Act (Canada) and its regulations thereunder, as amended from time to time; 

  
 - 6 - 

 “Termination Date” means (i) in the event of a Participant’s
resignation, the date on which such Participant ceases to be a director, executive officer, employee or consultant of the Corporation or one of its Subsidiaries and (ii) in the event of the termination of the Participant’s employment, or
position as director, executive or officer of the Corporation or a Subsidiary, or consultant providing ongoing services to the Corporation and its Subsidiaries, the effective date of the termination as specified in the notice of termination provided
to the Participant by the Corporation or the Subsidiary, as the case may be; 
 “Treasury Regulations” means the tax
regulations promulgated by the United States Internal Revenue Service under the Code; 
 “TSX” means the Toronto
Stock Exchange; 
 “U.S. Resident” means any individual who is treated as a resident of the United States for United States
federal tax purposes; 
 “Unvested Share” means a Share granted to a Participant with such restrictions and vesting
conditions upon such Shares as may be determined by the Board at the time of the grant and granted in accordance with Article 3 hereof; 

“Unvested Share Agreement” means a written agreement between the Corporation or a Subsidiary and a Participant evidencing the
grant of Unvested Shares and the terms and conditions thereof; 
 “Vested Awards” has the meaning described thereto
in Section 7.2(5) hereof; and 
 “VWAP” means the volume weighted average trading price of the Shares, calculated
by dividing the total value by the total volume of Shares traded for the relevant period. 
  

	Section 1.2	Interpretation. 

  

	(1)	Whenever the Board is to exercise discretion or authority in the administration of the terms and conditions of this Plan, the term “discretion” or “authority” means the sole and absolute discretion
of the Board. 

  

	(2)	The provision of a table of contents, the division of this Plan into Articles, Sections and other subdivisions and the insertion of headings are for convenient reference only and do not affect the interpretation of this
Plan. 

  

	(3)	In this Plan, words importing the singular shall include the plural, and vice versa and words importing any gender include any other gender. 

 

	(4)	The words “including”, “includes” and “include” and any derivatives of such words mean “including (or includes or include) without limitation”. As used herein, the expressions
“Article”, “Section” and other subdivision followed by a number, mean and refer to the specified Article, Section or other subdivision of this Plan, respectively. 

 

	(5)	Unless otherwise specified in the Participant’s Grant Agreement, all references to money amounts are to Canadian currency. 

  
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	(6)	For purposes of this Plan, the legal representatives of a Participant shall only include the administrator, the executor or the liquidator of the Participant’s estate or will. 

 

	(7)	If any action may be taken within, or any right or obligation is to expire at the end of, a period of days under this Plan, then the first day of the period is not counted, but the day of its expiry is counted.

 ARTICLE 2 

PURPOSE AND ADMINISTRATION OF THE PLAN; GRANTING OF AWARDS 
  

	Section 2.1	Purpose of the Plan. 

 The purpose of the Plan is to permit the Corporation to grant
Awards to Eligible Participants, subject to certain conditions as hereinafter set forth, for the following purposes: 
  

	 	(a)	to increase the interest in the Corporation’s welfare of those Eligible Participants, who share responsibility for the management, growth and protection of the business of the Corporation or a Subsidiary;

  

	 	(b)	to provide an incentive to such Eligible Participants to continue their services for the Corporation or a Subsidiary and to encourage such Eligible Participants whose skills, performance and loyalty to the objectives
and interests of the Corporation or a Subsidiary are necessary or essential to its success, image, reputation or activities; 

  

	 	(c)	to reward Participants for their performance of services while working for the Corporation or a Subsidiary; and 

  

	 	(d)	to provide a means through which the Corporation or a Subsidiary may attract and retain able Persons to enter its employment or service. 

 

	Section 2.2	Implementation and Administration of the Plan. 

  

	(1)	The Plan shall be administered and interpreted by the board of directors of the Corporation (the “Board”) or, if the Board by resolution so decides, by a committee or plan administrator appointed by the
Board. If such committee or plan administrator is appointed for this purpose, all references to the “Board” herein will be deemed references to such committee or plan administrator. Nothing contained herein shall prevent the Board
from adopting other or additional Share Compensation Arrangements or other compensation arrangements, subject to any required approval. 

  

	(2)	Subject to Article 9 hereof and any applicable rules of a Stock Exchange, the Board may, from time to time, as it may deem expedient, adopt, amend and rescind rules and regulations or vary the terms of this Plan and/or
any Award hereunder for carrying out the provisions and purposes of the Plan and/or to address tax or other requirements of any applicable non-Canadian jurisdiction. 

  
 - 8 - 

	(3)	Subject to the provisions herein, the Board is authorized, in its sole discretion, to make such determinations under, and such interpretations of, and take such steps and actions in connection with, the proper
administration and operations of the Plan as it may deem necessary or advisable. The Board may delegate to officers or managers of the Corporation, or committees thereof, the authority, subject to such terms as the Board shall determine, to perform
such functions, in whole or in part, to the extent that such delegation will not result in the loss of an exemption under Rule 16b-3(d)(1) for Awards granted to Participants subject to Section 16 of the
Exchange Act in respect of the Corporation and will not cause Awards intended to qualify as “qualified performance-based compensation” under Section 162(m) to fail to so qualify. Any such delegation by the Board may be revoked at any time
at the Board’s sole discretion. The interpretation, administration, construction and application of the Plan and any provisions hereof made by the Board, or by any officer, manager, committee or any other Person to which the Board delegated
authority to perform such functions, shall be final and binding on the Corporation, its Subsidiaries and all Eligible Participants. 

  

	(4)	No member of the Board or any Person acting pursuant to authority delegated by the Board hereunder shall be liable for any action or determination taken or made in good faith in the administration, interpretation,
construction or application of the Plan or any Award granted hereunder. Members of the Board or and any person acting at the direction or on behalf of the Board, shall, to the extent permitted by law, be fully indemnified and protected by the
Corporation with respect to any such action or determination. 

  

	(5)	The Plan shall not in any way fetter, limit, obligate, restrict or constraint the Board with regard to the allotment or issuance of any Shares or any other securities, including Multiple Voting Shares, in the capital of
the Corporation. For greater clarity, the Corporation shall not by virtue of this Plan be in any way restricted from declaring and paying stock dividends, repurchasing Shares or Multiple Voting Shares, or varying or amending its share capital or
corporate structure. 

  

	Section 2.3	Participation in this Plan. 

  

	(1)	The Corporation makes no representation or warranty as to the future market value of the Shares or with respect to any income tax matters affecting any Participant resulting from the grant of an Award or the exercise of
an Option or a SAR or transactions in the Shares. With respect to any fluctuations in the market price of the Shares, neither the Corporation, nor any of its directors, officers, employees, shareholders or agents shall be liable for anything done or
omitted to be done by such Person or any other Person with respect to the price, time, quantity or other conditions and circumstances of the issuance of Shares hereunder, or in any other manner related to the Plan. For greater certainty, no amount
will be paid to, or in respect of, a Participant under the Plan or pursuant to any other arrangement, and no additional Awards will be granted to such Participant to compensate for a downward fluctuation in the price of the Shares, nor will any
other form of benefit be conferred upon, or in respect of, a Participant for such purpose. The Corporation and its Subsidiaries do not assume responsibility for the income or other tax consequences resulting to any Participant and each Participant
is advised to consult with his or her own tax advisors. 

  
 - 9 - 

	(2)	Participants (and their legal representatives) shall have no legal or equitable right, claim, or interest in any specific property or asset of the Corporation or any of its Subsidiaries. No asset of the Corporation or
any of its Subsidiaries shall be held in any way as collateral security for the fulfillment of the obligations of the Corporation or any of its Subsidiaries under this Plan. Unless otherwise determined by the Board, this Plan shall be unfunded. To
the extent any Participant or his or her estate holds any rights by virtue of a grant of Awards under this Plan, such rights (unless otherwise determined by the Board) shall be no greater than the rights of an unsecured creditor of the Corporation.

  

	(3)	Unless otherwise determined by the Board, the Corporation shall not offer financial assistance to any Participant in regards to the exercise of any Award granted under this Plan. 

 

	Section 2.4	Shares Subject to the Plan. 

  

	(1)	Subject to adjustment pursuant to Article 9 hereof, the securities that may be acquired by Participants under this Plan shall consist of authorized but unissued Shares. 

 

	(2)	The maximum number of Shares reserved for issuance, in the aggregate, under this Plan shall be equal to 4,600,340 Shares, plus any Shares underlying Options granted under the Legacy Option Plan that, after the effective
date of the Plan, expire or are forfeited. No Award that can be settled in Shares issued from treasury may be granted if such grant would have the effect of causing the total number of Shares subject to such Award to exceed the above-noted
total numbers of Shares reserved for issuance pursuant to the settlement of Awards. For greater certainty, Section 2.4 shall not limit the Corporation’s ability to issue Awards that are payable other than in Shares issued from treasury.

  

	(3)	The Corporation shall, at all times during the term of this Plan, ensure that the number of Shares it is authorized to issue is sufficient to satisfy the requirement of this Plan and the Legacy Option Plan; provided
that awards will no longer be granted under the Legacy Option Plan. 

  

	(4)	If the Corporation issues Shares from treasury, such Shares will be issued in consideration for the past services of the Participant to the Corporation and the entitlement of the Participant under this Plan shall be
satisfied in full by such issuance of Shares. The Board may cause Shares used to satisfy for the settlement of RSUs granted under the Plan to be purchased instead on the open market. 

 

	(5)	If an outstanding Award (or portion thereof) expires or is forfeited, surrendered, cancelled or otherwise terminated for any reason without having been exercised or settled in full, or if Shares acquired pursuant to an
Award subject to forfeiture are forfeited, the Shares covered by such Award, if any, will again be available for issuance under the Plan. Shares will not be deemed to have been issued pursuant to the Plan with respect to any portion of an
Award that is settled in cash, but Shares purchased on the open market will be deemed to have been issued pursuant to the Plan for the purpose of the Share reserve set forth in Section 2.4(2). 

  
 - 10 - 

	Section 2.5	Limits with Respect to Insiders and Individual Limits. 

  

	(1)	The maximum number of Shares issuable to Eligible Participants who are Insiders, at any time, under this Plan, the Legacy Option Plan and any other proposed or established Share Compensation Arrangement, shall not
exceed ten percent (10%) of the Shares and Multiple Voting Shares issued and outstanding from time to time (calculated on a non-diluted basis). 

 

	(2)	The maximum number of Shares issued to Eligible Participants who are Insiders, within any one year period, under this Plan, the Legacy Option Plan and any other proposed or established Share Compensation Arrangement,
shall not exceed ten percent (10%) of the Shares and Multiple Voting Shares issued and outstanding from time to time (calculated on a non-diluted basis). 

 

	(3)	Any Award granted pursuant to the Plan, or securities issued under the Legacy Option Plan and any other Share Compensation Arrangement, prior to a Participant becoming an Insider, shall be excluded from the purposes of
the limits set out in Section 2.5(1) and Section 2.5(2). 

  

	(4)	The following additional limits apply to Awards of the specified type granted, or in the case of cash Awards, payable to any Participant in any one fiscal year: 

 

	 	(a)	Options: 200,000 Shares; 

  

	 	(b)	SARs: 200,000 Shares; 

  

	 	(c)	Awards other than Options, SARs or cash Awards: 200,000 Shares; 

  

	 	(d)	Cash Awards with a Performance Period of up to one year: $500,000; and 

  

	 	(e)	Cash Awards with a Performance Period of longer than one year: $1,000,000; and 

 in applying the
foregoing limits, (i) all Awards of the specified type granted to the same person in the same fiscal year are aggregated and made subject to one limit; (ii) the limits applicable to Options and SARs refer to the number of Shares underlying
those Awards; (iii) the Share limit under clause (c) refers to the maximum number of Shares that may be delivered, or the value of which could be paid in cash or other property, under an Award or Awards of the type specified in clause
(c) assuming a maximum payout; (iv) Awards other than cash Awards that are settled in cash count against the applicable Share limit under clause (a), (b) or (c) and not against the dollar limit under clauses (d) or (e); and
(v) the dollar limit under clauses (d) and (e) refers to the maximum dollar amount payable under a cash Award assuming a maximum payout. If an Award denominated in Shares is cancelled, to the extent such Award was either (a) an Option
or SAR, or (b) was otherwise intended to satisfy the Performance Based Exception, the Shares subject to the cancelled Award continue to count against the maximum number of Shares which may be granted to a Participant who is a U.S. Resident in
any fiscal year. All Shares specified in this Section 2.5(4) shall be adjusted to the extent necessary to reflect adjustments to Shares required by Article 9. 

  
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	(5)	The Board may establish compensation for non-employee directors from time to time, subject to the limitations in the Plan. The Board will from time to time determine the terms,
conditions and amounts of all such non-employee director compensation in its discretion and pursuant to the exercise of its business judgment, taking into account such factors, circumstances and considerations
as it shall deem relevant from time to time, provided that the maximum aggregate grant date fair value, as determined in accordance with IFRS 2, of Awards granted to any non-employee director for service as a
director pursuant to the Plan during any fiscal year, together with any other fees or compensation paid to such director outside of the Plan for services as a director may not exceed $500,000 (or, in the fiscal year of any director’s initial
service, $750,000). 

  

	Section 2.6	Granting of Awards. 

  

	(1)	Any Award granted under the Plan shall be subject to the requirement that, if at any time counsel to the Corporation shall determine that the listing, registration or qualification of the Shares subject to such Award,
if applicable, upon any securities exchange or under any law or regulation of any jurisdiction, or the consent or approval of any securities exchange or any governmental or regulatory body, is necessary as a condition of, or in connection with, the
grant of such Awards or exercise of any Option or SAR or the issuance or purchase of Shares thereunder, if applicable, such Award may not be accepted or exercised in whole or in part unless such listing, registration, qualification, consent or
approval shall have been effected or obtained on conditions acceptable to the Board. Nothing herein shall be deemed to require the Corporation to apply for or to obtain such listing, registration, qualification, consent or approval.

  

	(2)	The Corporation may require, as a condition to the exercise of an Award or the delivery of Shares under an Award, such representations or agreements as counsel for the Corporation may consider appropriate to avoid
violation of the U.S. Securities Act of 1933, as amended, or any applicable state or non-U.S. securities law. Any Shares required to be issued to Participants under the Plan will be evidenced in such manner as
the Board may deem appropriate, including book-entry registration or delivery of share certificates. In the event that the Board determines that share certificates will be issued to Participants under the Plan, the Board may require that
certificates evidencing Shares issued under the Plan bear an appropriate legend reflecting any restriction on transfer applicable to such Shares, and the Corporation may hold the share certificates pending lapse of the applicable restrictions.

 ARTICLE 3 

UNVESTED SHARES 
  

	Section 3.1	Nature of Unvested Shares. 

 An Unvested Share is a Share with such restrictions and
vesting and other conditions placed upon the Share as the Board may determine at the time of grant. 

  
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	Section 3.2	Unvested Share Awards. 

 Subject to the provisions herein set forth and any shareholder
or regulatory approval which may be required, the Board shall, from time to time by resolution, in its sole discretion, (i) designate the Eligible Participants who may receive Unvested Shares under the Plan, (ii) fix the number of Unvested
Shares, if any, to be granted to each Eligible Participant and the date or dates on which such Unvested Shares shall be granted, and (iii) determine the restrictions and vesting and other conditions applicable to such Unvested Shares
(including, a restriction on or prohibition against the right to receive any dividend or other right or property with respect thereto), which restrictions may lapse separately or in combination at such time or times, in such installments or
otherwise as the Board determines, the whole subject to the terms and conditions prescribed in this Plan. 
  

	Section 3.3	Payment to Participant. 

  

	(1)	The Corporation shall, as soon as possible after the grant of the Unvested Shares, cause the transfer agent and registrar of the Shares either to: 

 

	 	(a)	deliver to the Participant a certificate in the name of the Participant representing in the aggregate such number of Shares as the Participant shall then be entitled to receive; or 

 

	 	(b)	in the case of Unvested Shares issued in uncertificated form, cause the issuance of the aggregate number of Unvested Shares as the Participant shall then be entitled to receive to be evidenced by a book position on the
register of the shareholders of the Corporation maintained by the transfer agent and registrar of the Shares. 

  

	(2)	Each certificate representing Unvested Shares shall bear the following legend, as amended to reflect the restrictions and/or vesting conditions placed upon the Shares as the Board may determine at the time of
grant: 

 “THE SECURITIES REPRESENTED HEREBY ARE SUBJECT TO RESTRICTIONS IN ACCORDANCE WITH THE CORPORATION’S OMNIBUS
INCENTIVE PLAN DATED ●, 2017 AND AN UNVESTED SHARE AGREEMENT DATED ●. THE SECURITIES REPRESENTED HEREBY MAY NOT BE TRANSFERRED UNTIL ●.” 

 

	(3)	Unless the Board shall otherwise determine, 

  

	 	(a)	uncertificated Unvested Shares shall be accompanied by a notation on the records of the Corporation or the transfer agent to the effect that they are subject to forfeiture until such Unvested Shares are vested as
provided in Section 3.3(4) below; and 

  

	 	(b)	certificated Unvested Shares shall remain in the possession of the Corporation until such Unvested Shares have vested as provided in Section 3.3(4) below, and the Participant shall be required, as a condition of
the grant of such Unvested Shares, to deliver to the Corporation such instruments of transfer as the Board may prescribe. 

  
 - 13 - 

	(4)	The Board, at the time of grant, shall specify the date or dates and/or the restrictions and vesting conditions on which the nontransferability of the Unvested Shares and the Corporation’s right of repurchase or
forfeiture shall lapse. Subsequent to such date, or dates and/or the attainment of the restrictions and vesting conditions, the Unvested Shares on for which all restrictions have lapsed shall no longer be Unvested Shares and shall be deemed
“vested”. 

  

	Section 3.4	Unvested Share Agreements. 

 The terms of the Unvested Shares shall be evidenced by
Unvested Share Agreement or included in an Employment Agreement, in such form not inconsistent with the Plan, as the Board may from time to time determine. The Unvested Share Agreement shall contain such terms that may be considered necessary in
order that the Unvested Shares will comply with any provisions respecting restricted securities in the income tax or other laws in force in any country or jurisdiction of which a Participant may from time to time be a resident or citizen or the
rules of any regulatory body having jurisdiction over the Corporation, including applicable securities laws. 
 ARTICLE 4 

OPTIONS 
  

	Section 4.1	Nature of Options. 

 An Option is an option granted by the Corporation to a Participant
entitling such Participant to acquire a designated number of Shares from treasury at the Option Price, but subject to the provisions hereof. For the avoidance of doubt, no Dividend Equivalents shall be granted in connection with an Option. 

 

	Section 4.2	Option Awards. 

 Subject to the provisions set forth in this Plan and any shareholder or
regulatory approval which may be required, the Board shall, from time to time by resolution, in its sole discretion, (i) designate the Eligible Participants who may receive Options under the Plan, (ii) fix the number of Options, if any, to
be granted to each Eligible Participant and the date or dates on which such Options shall be granted, (iii) determine the price per Share to be payable upon the exercise of each such Option (the “Option Price”) and the relevant
vesting provisions (including Performance Criteria, if applicable) and the Option Term, the whole subject to the terms and conditions prescribed in this Plan or in any Option Agreement, and any applicable rules of a Stock Exchange. 

  
 - 14 - 

	Section 4.3	Option Price. 

 The Option Price for Shares that are the subject of any Option shall be
determined and approved by the Board when such Option is granted, but shall not be less than the Market Value of such Shares at the time of the grant. 
  

	Section 4.4	Option Term. 

  

	(1)	The Board shall determine, at the time of granting the particular Option, the period during which the Option is exercisable, which shall not be more than ten (10) years from the date the Option is granted
(“Option Term”). Unless otherwise determined by the Board, all unexercised Options shall be cancelled at the expiry of such Options. 

  

	(2)	Should the expiration date for an Option fall within a Black-Out Period or within nine (9) Business Days following the expiration of a
Black-Out Period, such expiration date shall be automatically extended without any further act or formality to that date which is the tenth (10th) Business
Day after the end of the Black-Out Period, such tenth (10th) Business Day to be considered the expiration date for such Option for all purposes under the
Plan. Notwithstanding Section 9.3 hereof, the ten (10) Business Day-period referred to in this Section 4.4(2) may not be extended by the Board. 

 

	Section 4.5	Exercise of Options. 

 Prior to its expiration or earlier termination in accordance with
the Plan, each Option shall be exercisable at such time or times and/or pursuant to the achievement of such Performance Criteria and/or other vesting conditions as the Board at the time of granting the particular Option, may determine in its sole
discretion. For greater certainty, any exercise of Options by a Participant shall be made in accordance with the Corporation’s insider trading policy. 
  

	Section 4.6	Method of Exercise and Payment of Purchase Price. 

  

	(1)	Subject to the provisions of the Plan, an Option granted under the Plan shall be exercisable (from time to time as provided in Section 4.5 hereof) by the Participant (or by the liquidator, executor or
administrator, as the case may be, of the estate of the Participant) by delivering a fully completed Exercise Notice to the Corporation at its registered office to the attention of the Corporate Secretary of the Corporation (or the individual that
the Corporate Secretary of the Corporation may from time to time designate) or give notice in such other manner as the Corporation may from time to time designate, which notice shall specify the number of Shares in respect of which the Option is
being exercised and shall be accompanied by full payment, by cash, certified cheque, bank draft or any other form of payment deemed acceptable by the Board of the purchase price for the number of Shares specified therein and, if required by
Section 10.2, the amount necessary to satisfy any taxes. 

  
 - 15 - 

	(2)	Upon the exercise, the Corporation shall, as soon as practicable after such exercise but no later than ten (10) Business Days following such exercise, forthwith cause the transfer agent and registrar of the Shares
either to: 

  

	 	(a)	deliver to the Participant (or to the liquidator, executor or administrator, as the case may be, of the estate of the Participant) a certificate in the name of the Participant representing in the aggregate such number
of Shares as the Participant (or to the liquidator, executor or administrator, as the case may be, of the estate of the Participant) shall have then paid for and as are specified in such Exercise Notice; or 

 

	 	(b)	in the case of Shares issued in uncertificated form, cause the issuance of the aggregate number of Shares as the Participant (or the liquidator, executor or administrator, as the case may be, of the estate of the
Participant) shall have then paid for and as are specified in such Exercise Notice to be evidenced by a book position on the register of the shareholders of the Corporation to be maintained by the transfer agent and registrar of the Shares.

  

	Section 4.7	Option Agreements. 

 Options shall be evidenced by an Option Agreement or included in an
Employment Agreement, in such form not inconsistent with the Plan as the Board may from time to time determine. The Option Agreement shall contain such terms that may be considered necessary in order that the Option will comply with any provisions
respecting options in the income tax or other laws in force in any country or jurisdiction of which the Participant may from time to time be a resident or citizen or the rules of any regulatory body having jurisdiction over the Corporation. 

ARTICLE 5 

RESTRICTED SHARE UNITS 
  

	Section 5.1	Nature of RSUs. 

 An RSU is an Award that, upon settlement, entitles the recipient
Participant to acquire Shares at such purchase price (which may be zero) as determined by the Board, or to receive the Cash Equivalent or a combination thereof, as the case may be, pursuant and subject to such restrictions and conditions as the
Board may determine at the time of grant, unless such RSU expires prior to being settled. Conditions may, without limitation, be based on continuing employment (or other service relationship) and/or achievement of Performance Criteria. 

 

	Section 5.2	RSU Awards. 

  

	(1)	Subject to the provisions herein set forth and any shareholder or regulatory approval which may be required, the Board shall, from time to time by resolution, in its sole discretion, (i) designate the Eligible
Participants who may receive RSUs under the Plan, (ii) fix the number of RSUs, if any, to be granted to each Eligible Participant and the date or dates on which such RSUs shall be granted, (iii) determine the relevant conditions and
vesting provisions (including the applicable Performance Period and Performance Criteria, if any) and the Restriction Period of such RSUs, and (iv) any other terms and conditions applicable to the granted RSUs, which need not be identical and
which, without limitation, may include non-competition provisions, the whole subject to the terms and conditions prescribed in this Plan and in any RSU Agreement. 

  
 - 16 - 

	(2)	In making such determination, the Board shall consider the timing of crediting RSUs to the Participant’s Account and the vesting requirements applicable to such RSUs to ensure that the crediting of the RSUs to the
Participant’s Account and the vesting requirements are not considered a “salary deferral arrangement” for purposes of the Tax Act and any applicable provincial legislation. 

 

	(3)	Subject to the vesting and other conditions and provisions herein set forth and in the RSU Agreement, each RSU awarded to a Participant shall entitle the Participant to receive one Share, the Cash Equivalent or a
combination thereof as soon as possible upon confirmation by the Board that the vesting conditions (including the Performance Criteria, if any) have been met and no later than the last day of the Restriction Period. 

 

	Section 5.3	Restriction Period. 

 The applicable restriction period in respect of a particular RSU
shall be determined by the Board but in all cases shall end no later than December 31 of the calendar year which is three (3) years after the calendar year in which the performance of services, for which RSU is granted, occurred
(“Restriction Period”). Unless otherwise determined by the Board, all unvested RSUs shall be cancelled on the RSU Vesting Determination Date (as such term is defined in Section 5.4) and, in any event, no later than the last day
of the Restriction Period. 
  

	Section 5.4	RSU Vesting Determination Date. 

 The vesting determination date means the date on which
the Board determines if the Performance Criteria and/or other vesting conditions with respect to an RSU have been met (the “RSU Vesting Determination Date”), and as a result, establishes the number of RSUs that become vested,
if any. For greater certainty, the RSU Vesting Determination Date must fall after the end of the Performance Period, if any, but no later than the last day of the Restriction Period. 

 

	Section 5.5	Settlement of RSUs. 

  

	(1)	Except as otherwise provided in the RSU Agreement, all of the vested RSUs covered by a particular grant may be settled within five (5) Business Days following their RSU Vesting Determination Date but no later than the
end of the Restriction Period (the “RSU Settlement Date”). 

  

	(2)	Settlement of RSUs shall take place promptly following the RSU Settlement Date, and no later than the end of the Restriction Period, and take the form determined by the Board, in its sole discretion. Settlement of RSUs
shall take place through: 

  

	 	(a)	in the case of settlement of RSUs for their Cash Equivalent, delivery of a cheque to the Participant representing the Cash Equivalent; 

 

	 	(b)	in the case of settlement of RSUs for Shares: 

  

	 	(i)	 delivery to the Participant (or to the liquidator, executor or administrator, as the case may be, of the estate
of the Participant) of a certificate in the 

  
 - 17 - 

	 	
name of the Participant representing in the aggregate such number of Shares as the Participant (or to the liquidator, executor or administrator, as the case may be, of the estate of the
Participant) shall be entitled to receive (unless the Participant intends to simultaneously dispose of any such Shares); or 

  

	 	(ii)	in the case of Shares issued in uncertificated form, issuance of the aggregate number of Shares as the Participant (or the liquidator, executor or administrator, as the case may be, of the estate of the Participant)
shall be entitled to receive to be evidenced by a book position on the register of the shareholders of the Corporation to be maintained by the transfer agent and registrar of the Shares; or 

 

	 	(c)	in the case of settlement of the RSUs for a combination of Shares and the Cash Equivalent, a combination of (a) and (b) above. 

 

	Section 5.6	Determination of Amounts. 

  

	(1)	For purposes of determining the Cash Equivalent of RSUs to be made pursuant to Section 5.5, such calculation will be made on the RSU Settlement Date based on the Market Value on the RSU Settlement Date multiplied
by the number of vested RSUs in the Participant’s Account to settle in cash. 

  

	(2)	For the purposes of determining the number of Shares to be issued or delivered to a Participant upon settlement of RSUs pursuant to Section 5.5, such calculation will be made on the RSU Settlement Date based on the
whole number of Shares equal to the whole number of vested RSUs then recorded in the Participant’s Account to settle in Shares. 

  

	Section 5.7	RSU Agreements. 

 RSUs shall be evidenced by an RSU Agreement or included in an
Employment Agreement, in such form not inconsistent with the Plan as the Board may from time to time determine. The RSU Agreement shall contain such terms that may be considered necessary in order that the RSU will comply with any provisions
respecting restricted share units in the income tax or other laws in force in any country or jurisdiction of which the Participant may from time to time be a resident or citizen or the rules of any regulatory body having jurisdiction over the
Corporation. 
  

	Section 5.8	Award of Dividend Equivalents. 

 Dividend Equivalents may, as determined by the Board in
its sole discretion, be awarded in respect of unvested RSUs in a Participant’s Account on the same basis as cash dividends declared and paid on Shares as if the Participant was a shareholder of record of Shares on the relevant record date.
Dividend Equivalents, if any, will be credited to the Participant’s Account in additional RSUs, the number of which shall be equal to a fraction where the numerator is the product of (i) the number of RSUs in such Participant’s Account on
the date that dividends are paid multiplied by (ii) the dividend paid per Share and the denominator of which is the Market Value of one Share calculated on the date that dividends are paid. Any additional RSUs credited to a Participant’s
Account as a Dividend Equivalent pursuant to this Section 5.8 shall have an RSU vesting Determination Date which is the same as the RSU vesting Determination Date for the RSUs in respect of which such additional RSUs are credited.

  
 - 18 - 

 
In the event that the Participant’s applicable RSUs do not vest, all Dividend Equivalents, if any, associated with such RSUs will be forfeited by the Participant and returned to the
Corporation’s account. 
 ARTICLE 6 

SHARE APPRECIATION RIGHTS 
  

	Section 6.1	Nature of SARs. 

 A SAR is an Award entitling the recipient to receive Shares having a
value equal to the excess of the Market Value of the Shares on the date of exercise over the SAR Price, which price shall not be less than 100% of the Market Value of the Share on the date of grant multiplied by the number of Shares with respect to
which the SAR shall have been exercised. For the avoidance of doubt, no Dividend Equivalents shall be granted in connection with a SAR. 
  

	Section 6.2	SAR Awards. 

 Subject to the provisions herein set forth and any shareholder or
regulatory approval which may be required, the Board shall, from time to time by resolution, in its sole discretion, (i) designate the Eligible Participants who may receive SAR Awards under the Plan, (ii) fix the number of SAR Awards to be
granted to each Eligible Participant and the date or dates on which such SAR Awards shall be granted, and (iii) determine the price per Share to be payable upon the vesting of each such SAR (the “SAR Price”) and the relevant
conditions and vesting provisions (including the applicable Performance Period and Performance Criteria, if any) and the SAR Term, the whole subject to the terms and conditions prescribed in this Plan and in any SAR Agreement. 

 

	Section 6.3	SAR Price. 

 The SAR Price for the Shares that are the subject of any SAR shall be fixed
by the Board when such SAR is granted, but shall not be less than the Market Value of such Shares at the time of the grant. 
  

	Section 6.4	SAR Term. 

  

	(1)	The Board shall determine, at the time of granting the particular SAR, the period during which the SAR is exercisable, which shall not be more than ten (10) years from the date the SAR is granted (“SAR
Term”) and the vesting schedule of such SAR, which will be detailed in the respective SAR Agreement. Unless otherwise determined by the Board, all unexercised SARs shall be cancelled at the expiry of such SAR. 

 

	(2)	 Should the expiration date for a SAR fall within a Black-Out Period or
within nine (9) Business Days following the expiration of a Black-Out Period, such expiration date shall be automatically extended without any further act or formality to that date which is the tenth (10th) Business Day after the end of the Black-Out Period, such tenth (10th) Business

  
 - 19 - 

	 	
Day to be considered the expiration date for such SAR for all purposes under the Plan. Notwithstanding Section 9.3 hereof, the ten (10) Business
Day-period referred to in this Section 6.4 may not be extended by the Board. 

  

	Section 6.5	Exercise of SARs. 

 Prior to its expiration or earlier termination in accordance with the
Plan, each SAR shall be exercisable at such time or times and/or pursuant to the achievement of such Performance Criteria and/or other vesting conditions as the Board at the time of granting the particular SAR, may determine in its sole discretion.
For greater certainty, any exercise of SARs by a Participant shall be made in accordance with the Corporation’s insider trading policy. 
  

	Section 6.6	Method of Exercise. 

  

	(1)	Subject to the provisions of the Plan, a SAR granted under the Plan shall be exercisable (from time to time as provided in Section 6.5 hereof) by the Participant (or by the liquidator, executor or administrator, as
the case may be, of the estate of the Participant) by delivering a fully completed Exercise Notice to the Corporation at its registered office to the attention of the Corporate Secretary of the Corporation (or to the individual that the Corporate
Secretary of the Corporation may from time to time designate) or give notice in such other manner as the Corporation may from time to time designate, no less than three (3) Business Days in advance of the effective date of the proposed
exercise, which notice shall specify the number of Shares with respect to which the SAR is being exercised and the effective date of the proposed exercise. 

  

	(2)	The exercise of a SAR with respect to any number of Shares shall entitle the Participant to receive, from the Corporation, a number of Shares having an aggregate Market Value equal to the excess of the Market Value of a
Share on the effective date of such exercise over the per share SAR Price. 

  

	(3)	Upon the exercise, the Corporation shall, as soon as practicable after such exercise but no later than ten (10) Business Days following such exercise, forthwith cause the transfer agent and registrar of the Shares
to either: 

  

	 	(a)	deliver to the Participant (or to the liquidator, executor or administrator, as the case may be, of the estate of the Participant) a certificate in the name of the Participant representing in the aggregate such number
of Shares as the Participant (or to the liquidator, executor or administrator, as the case may be, of the estate of the Participant) shall be entitled to receive (unless the Participant intends to simultaneously dispose of any such Shares); or

  

	 	(b)	in the case of Shares issued in uncertificated form, cause the issuance of the aggregate number of Shares as the Participant (or the liquidator, executor or administrator, as the case may be, of the estate of the
Participant) shall be entitled to receive to be evidenced by a book position on the register of the shareholders of the Corporation to be maintained by the transfer agent and registrar of the Shares. 

  
 - 20 - 

	Section 6.7	SAR Agreements. 

 SARs shall be evidenced by a SAR Agreement or included in an Employment
Agreement, in such form not inconsistent with the Plan as the Board may from time to time determine. The SAR Agreement shall contain such terms that may be considered necessary in order that the SAR will comply with any provisions respecting stock
appreciation rights in the income tax or other laws in force in any country or jurisdiction of which the Participant may from time to time be a resident or citizen or the rules of any regulatory body having jurisdiction over the Corporation. 

ARTICLE 7 
 GENERAL
CONDITIONS 
  

	Section 7.1	General Conditions Applicable to Awards. 

 Each Award, as applicable, shall be subject to
the following conditions: 
  

	(1)	Vesting Period. Each Award granted hereunder shall vest in accordance with the terms of the Grant Agreement entered into in respect of such Award. The Board has the right to accelerate the date upon which any
Award becomes exercisable notwithstanding the vesting schedule set forth for such Award, regardless of any adverse or potentially adverse tax consequence resulting from such acceleration. 

 

	(2)	Employment. Notwithstanding any express or implied term of this Plan to the contrary, the granting of an Award pursuant to the Plan shall in no way be construed as a guarantee by the Corporation or a Subsidiary
to the Participant of employment or another service relationship with the Corporation or a Subsidiary. The granting of an Award to a Participant shall not impose upon the Corporation or a Subsidiary any obligation to retain the Participant in its
employ or service in any capacity. Nothing contained in this Plan or in any Award granted under this Plan shall interfere in any way with the rights of the Corporation or any of its Affiliates in connection with the employment, retention or
termination of any such Participant. The loss of existing or potential profit in Shares underlying Awards granted under this Plan shall not constitute an element of damages in the event of termination of a Participant’s employment or service in
any office or otherwise. 

  

	(3)	Grant of Awards. Eligibility to participate in this Plan does not confer upon any Eligible Participant any right to be granted Awards pursuant to this Plan. Granting Awards to any Eligible Participant does not
confer upon any Eligible Participant the right to receive nor preclude such Eligible Participant from receiving any additional Awards at any time. The extent to which any Eligible Participant is entitled to be granted Awards pursuant to this Plan
will be determined in the sole discretion of the Board. Participation in the Plan shall be entirely voluntary and any decision not to participate shall not affect an Eligible Participant’s relationship or employment with the Corporation or any
Subsidiary. 

  

	(4)	 Rights as a Shareholder. Neither the Participant nor such Participant’s personal representatives or
legatees shall have any rights whatsoever as shareholder in respect of 

  
 - 21 - 

	 	
any Shares covered by such Participant’s Awards by reason of the grant of such Award until such Award has been duly exercised, as applicable, and settled and Shares have been issued in
respect thereof. Without in any way limiting the generality of the foregoing, no adjustment shall be made for dividends or other rights for which the record date is prior to the date such Shares have been issued. 

 

	(5)	Conformity to Plan. In the event that an Award is granted or a Grant Agreement is executed which does not conform in all particulars with the provisions of the Plan, or purports to grant Awards on terms different
from those set out in the Plan, the Award or the grant of such Award shall not be in any way void or invalidated, but the Award so granted will be adjusted to become, in all respects, in conformity with the Plan. 

 

	(6)	Transferrable Awards. Except as specifically provided in a Grant Agreement approved by the Board, each Award granted under the Plan is personal to the Participant and shall not be assignable or transferable by
the Participant, whether voluntarily or by operation of law, except by will or by the laws of succession of the domicile of the deceased Participant. No Award granted hereunder shall be pledged, hypothecated, charged, transferred, assigned or
otherwise encumbered or disposed of on pain of nullity. 

  

	(7)	Participant’s Entitlement. Except as otherwise provided in this Plan or unless the Board permits otherwise, upon any Subsidiary of the Corporation ceasing to be a Subsidiary of the Corporation, Awards
previously granted under this Plan that, at the time of such change, are held by a Person who is a director, executive officer, employee or consultant of such Subsidiary of the Corporation and not of the Corporation itself, whether or not then
exercisable, shall automatically terminate on the date of such change. 

  

	Section 7.2	General Conditions Applicable to Options and SARs. 

 Each Option or SAR, as applicable,
shall be subject to the following conditions: 
  

	(1)	Termination for Cause. Upon a Participant ceasing to be an Eligible Participant for Cause, any vested or unvested Option or SAR granted to such Participant shall terminate automatically and become void
immediately. For the purposes of the Plan, the determination by the Corporation that the Participant was discharged for Cause shall be binding on the Participant. “Cause” shall include, among other things, gross misconduct, theft,
fraud, breach of confidentiality or breach of the Corporation’s codes of conduct and any other reason determined by the Corporation to be cause for termination. 

 

	(2)	Termination not for Cause. Upon a Participant ceasing to be an Eligible Participant as a result of his or her employment or service relationship with the Corporation or a Subsidiary being terminated without
Cause, (i) any unvested Option or SAR granted to such Participant shall terminate and become void immediately and (ii) any vested Option or SAR granted to such Participant may be exercised by such Participant as the rights to exercise
accrue. Unless otherwise determined by the Board, in its sole discretion, such Option or SAR shall only be exercisable within the earlier of thirty (30) days after the Termination Date, or the expiry date of the Award set forth in the
Grant Agreement. 

  
 - 22 - 

	(3)	Resignation. Upon a Participant ceasing to be an Eligible Participant as a result of his or her resignation from the Corporation or a Subsidiary, (i) each unvested Option or SAR granted to such Participant
shall terminate and become void immediately upon resignation and (ii) each exercisable Option or SAR granted to such Participant will cease to be exercisable on the earlier of the thirty (30) days following the Termination Date and the
expiry date of the Award set forth in the Grant Agreement. 

  

	(4)	Permanent Disability/Retirement. Upon a Participant ceasing to be an Eligible Participant by reason of retirement or permanent disability, (i) any unvested Option or SAR shall terminate and become void
immediately, and (ii) any vested Option or SAR shall remain exercisable for a period of ninety (90) days from the date of retirement or the date on which the Participant ceases his or her employment or service relationship with the
Corporation or any Subsidiary by reason of permanent disability, but not later than the expiry date of the Award set forth in the Grant Agreement, and thereafter any such Option or SAR shall expire. 

 

	(5)	Death. Upon a Participant ceasing to be an Eligible Participant by reason of death, any vested Option or SAR granted to such Participant may be exercised by the liquidator, executor or administrator, as the case
may be, of the estate of the Participant for that number of Shares only which such Participant was entitled to acquire under the respective Options or SARs (the “Vested Awards”) hereof on the date of such Participant’s
death. Such Vested Awards shall only be exercisable within one (1) year after the Participant’s death or prior to the expiration of the original term of the Options or SARs whichever occurs earlier. Subject to the terms of the applicable
Grant Agreement, any Options or SAR that would have vested within twelve (12) months following such Participant’s death shall be deemed to have vested on such date, and all other Options or SARs will be cancelled on the date of such
Participant’s death. 

  

	(6)	Leave of Absence. Upon a Participant electing a voluntary leave of absence of more than twelve (12) months, including maternity and paternity leaves, the Board may determine, at its sole discretion but
subject to applicable laws, that such Participant’s participation in the Plan shall be terminated, provided that all vested Options or SARs in the Participant’s Account shall remain outstanding and in effect until the applicable exercise
date, or an earlier date determined by the Board at its sole discretion. 

  

	Section 7.3	General Conditions Applicable to RSUs. 

 Each RSU shall be subject to the following
conditions: 
  

	(1)	Termination for Cause and Resignation. Upon a Participant ceasing to be an Eligible Participant for Cause or as a result of his or her resignation from the Corporation or a Subsidiary, the Participant’s
participation in the Plan shall be terminated immediately, all RSUs credited to such Participant’s Account that have not vested shall be forfeited and cancelled, and the Participant’s rights to Shares or Cash Equivalent or a combination
thereof that relate to such Participant’s unvested RSUs shall be forfeited and cancelled on the Termination Date. 

  
 - 23 - 

	(2)	Death, Leave of Absence or Cessation of Employment or Service Relationship. Except as otherwise determined by the Board from time to time, at its sole discretion, upon a Participant electing a voluntary
leave of absence of more than twelve (12) months, including maternity and paternity leaves, or upon a Participant ceasing to be Eligible Participant as a result of (i) death, (ii) retirement, (iii) his or her employment or service
relationship with the Corporation or a Subsidiary being terminated by the Corporation or a Subsidiary for reasons other than for Cause, (iv) his or her employment or service relationship with the Corporation or a Subsidiary being terminated by
reason of injury or disability or (v) becoming eligible to receive long-term disability benefits, the Participant’s participation in the Plan shall be terminated immediately (provided that, for the Participant becoming eligible to receive
long-term disability benefits, such termination shall occur on the Eligibility Date), provided that all unvested RSUs in the Participant’s Account as of such date relating to a Restriction Period in progress shall remain outstanding and in
effect until the applicable RSU Vesting Determination Date, and 

  

	 	(a)	If, on the RSU Vesting Determination Date, the Board determines that the vesting conditions were not met for such RSUs, then all unvested RSUs credited to such Participant’s Account shall be forfeited and cancelled
and the Participant’s rights to Shares or Cash Equivalent or a combination thereof that relate to such unvested RSUs shall be forfeited and cancelled; and 

  

	 	(b)	If, on the RSU Vesting Determination Date, the Board determines that the vesting conditions were met for such RSUs, the Participant shall be entitled to receive pursuant to Section 5.5 that number of Shares or Cash
Equivalent or a combination thereof equal to the number of RSUs outstanding in the Participant’s Account in respect of such Restriction Period multiplied by a fraction, the numerator of which shall be the number of completed months of service
of the Participant with the Corporation or a Subsidiary during the applicable Restriction Period as of the date of the Participant’s death, retirement, termination or Eligibility Date and the denominator of which shall be equal to the total
number of months included in the applicable Restriction Period (which calculation shall be made on the applicable RSU Vesting Determination Date) and the Corporation shall distribute such number of Shares or Cash Equivalent or a combination
thereof to the Participant or the liquidator, executor or administrator, as the case may be, of the estate of the Participant, as soon as practicable thereafter, but no later than the end of the Restriction Period, the Corporation shall debit the
corresponding number of RSUs from the Account of such Participant’s or such deceased Participants’, as the case may be, and the Participant’s rights to all other Shares or Cash Equivalent or a combination thereof that relate to such
Participant’s RSUs shall be forfeited and cancelled; 

 provided that, notwithstanding the foregoing, upon a Participant
ceasing to be an Eligible Participant by reason of retirement, this Section 7.3(2) shall not apply to a Participant in the event such Participant, directly or indirectly, in any capacity whatsoever, alone, through or in connection with any
Person, carries on or becomes employed by, engaged in or otherwise commercially involved in, any activity or 

  
 - 24 - 

 
business in the apparel industry including the outerwear and luxury segments of such industry prior to the applicable RSU Vesting Determination Date. In such event, Section 7.3(1) shall
apply to such Participant. Except as expressly provided for in an RSU Agreement, none of the foregoing provisions of this Section 7.3(2), shall apply to a U.S. Resident. 

 

	(3)	General. For greater certainty, where (i) a Participant’s employment or service relationship with the Corporation or a Subsidiary is terminated pursuant to Section 7.3(1) or Section 7.3(2)
hereof or (ii) a Participant elects for a voluntary leave of absence pursuant to Section 7.3(2) hereof following the satisfaction of all vesting conditions in respect of particular RSUs but before receipt of the corresponding distribution
or payment in respect of such RSUs, the Participant shall remain entitled to such distribution or payment. 

  

	Section 7.4	General Conditions Applicable to Unvested Shares. 

 Upon a Participant ceasing to be an
Eligible Participant for any reason, any Unvested Shares that have not vested at such time shall automatically and without any requirement of notice to such Participant, or other action by or on behalf of the Corporation, be deemed to have been
reacquired by the Corporation from such Participant, and thereafter shall cease to represent any ownership in the Corporation by the Participant or rights of the Participant as a shareholder of the Corporation. Following such deemed reacquisition,
the Participant shall surrender any certificates representing Unvested Shares in such Participant’s possession to the Corporation upon request without consideration. 

ARTICLE 8 

COMPLIANCE WITH U.S. TAX LAWS 
  

	Section 8.1	Compliance with Section 162(m) and Other Limits. 

  

	(1)	To the extent the Board determines that compliance with the Performance Based Exception is desirable with respect to an Award to a Participant who is a U.S. Resident, Section 8.1 and Section 8.2 shall apply
and the Board shall establish the Performance Criteria within the time period required under Section 162(m) and the grant, vesting or payment, as the case may be, of the Award will be conditioned upon the satisfaction of the Performance Criteria as
certified by the Board. The preceding sentence will not apply to an Award eligible (as determined by the Board) for exemption from the limitations of Section 162(m) by reason of the post-initial public offering transition relief in Section 1.162-27(f) of the Treasury Regulations. The Board may, subject to the terms of the Plan, amend a previously granted performance Award or take any other action that disqualifies such Award from the performance-based
compensation exception under Section 162(m). 

  

	(2)	In the event that changes are made to Section 162(m) to permit flexibility with respect to any Awards available under the Plan, the Board may, subject to this Section 8.1, make any adjustments to such Awards as it
deems appropriate. 

  
 - 25 - 

	(3)	The Board shall designate the Participants who are U.S. Residents to be granted Awards intended to satisfy the Performance Based Exception. For Awards with a Performance Period based on a year, or a period lasting
longer than a year, such designation shall occur within the first ninety (90) days of such year or Performance Period, as applicable. For Awards with a Performance Period lasting less than a year, such designation shall occur on or prior to the
date that is no later than twenty-five percent (25%) through the duration of the relevant Performance Period. The opportunity to be granted an Award intended to satisfy the Performance Based Exception shall be evidenced by a Grant Agreement in such
form as the Board may approve. 

  

	(4)	With respect to Awards intended to satisfy the Performance Based Exception, the Board shall establish Performance Criteria for the applicable Performance Period (which may be the same or different for some or all
Eligible Participants who are U.S. Residents) and may establish the threshold, target and/or maximum incentive opportunity or vesting provisions for each Participant for the attainment of specified threshold, target and/or maximum Performance
Criteria. Performance Criteria, incentive opportunities and vesting provisions shall be set forth in the applicable Grant Agreement, and may be weighted for different factors and measures as the Board may determine. 

 

	(5)	Prior to the payment of cash or delivery of Shares in connection with any Award that is intended to satisfy the Performance Based Exception, the Board shall determine and certify in writing the degree of attainment of
Performance Criteria. The Board reserves the discretion to reduce (but not below zero) the amount of an individual’s payment or Share entitlement below the amount that might otherwise be due based on the degree of attainment of Performance
Criteria. The determination of the Board to reduce (or not to pay) an individual shall not affect the maximum amount payable to any other individual. No amount shall be payable in respect of an Award intended to qualify for the Performance Based
Exception unless at least the established Performance Criteria (if any) is attained. 

  

	(6)	Notwithstanding the foregoing in this Section 8.1, to the extent the Board determines that compliance with the Performance Based Exception is desirable with respect to an Award, then (a) to the extent the
Board administers the Plan, the Plan shall be administered by only those directors of the Corporation who are “Independent” and (b) no Participant shall receive any payment under the Plan unless the Board has certified, by resolution
or other appropriate action in writing, that the Performance Criteria and any other material terms previously established by the Board or set forth in the Plan, have been satisfied to the extent necessary to qualify as “qualified performance
based compensation” under Section 162(m). For purposes of qualifying any Award hereunder as exempt from Section 162(m), “Independent”, when referring to the members of the Board shall mean meeting the requirements to qualify as an
“outside director” under Section 1.162-27(e)(3) of the Treasury Regulations. 

  

	Section 8.2	Performance Based Exception Under Section 162(m). 

  

	(1)	Subject to Section 8.2(4), unless and until the Board proposes for a stockholders vote and stockholders approve a change in the general Performance Criteria, for Awards (other than Options and SARs) designed to
qualify for the Performance Based Exception, the objective Performance Criteria shall be based upon one or more of the performance measures set forth in the definition of “Performance Criteria” set forth in Section 1.1.

  
 - 26 - 

	(2)	For Awards intended to comply with the Performance Based Exception, the Board shall set the Performance Criteria within the time period prescribed by Section 162(m). The levels of performance required with respect to
Performance Criteria may be expressed in absolute or relative levels and may be based upon a set increase, set positive result, maintenance of the status quo, set decrease or set negative result. Performance Criteria may differ for Awards to
different Participants. The Board shall specify the weighting (which may be the same or different for multiple objectives) to be given to each Performance Criteria for purposes of determining the final amount payable with respect to any such Award.
Any one or more of the Performance Criteria may apply to the Participant, a department, unit, division or function within the Corporation or any one or more Affiliates or the Corporation as a whole; and may apply either alone or relative to the
performance of other businesses or individuals (including industry or general market indices). 

  

	(3)	The Board shall have the discretion to adjust the determinations of the degree of attainment of the pre-established Performance Criteria; provided that Awards which are designed
to qualify for the Performance Based Exception may not (unless the Board determines to amend the Award so that it no longer qualified for the Performance Based Exception) be adjusted upward (the Board shall retain the discretion to adjust such
Awards downward). To the extent consistent with the requirements for satisfying the Performance Based Exception under Section 162(m), the Board, or a committee of the Board that satisfies the requirements of Section
1.162-27(e)(3) of the Treasury Regulations, may provide in the case of any Award intended to qualify for such exception that one or more of the Performance Criteria applicable to an Award will be
adjusted in an objectively determinable manner to reflect event (such as, the impact of charges for restructurings, discontinued operations, mergers, acquisitions, extraordinary items, and other unusual or
non-recurring items, and the cumulative effects of tax or accounting changes, each as defined by generally accepted accounting principles) occurring during the Performance Period of such Award that affect the
applicable Performance Criteria. The Board may not, unless the Board determines to amend the Award so that it no longer qualifies for the Performance Based Exception, delegate any responsibility with respect to Awards intended to qualify for the
Performance Based Exception; provided, however, that the Board may delegate such responsibility to a committee of the Board that satisfies the requirements of Section 1.162-27(e)(3). All determinations by the
Board or such committee as to the achievement of the Performance Criteria shall be in writing prior to payment of the Award. 

  

	(4)	In the event that applicable laws, rules or regulations change to permit the Board discretion to alter the governing Performance Criteria without obtaining stockholder approval of such changes, and still qualify for the
Performance Based Exception, the Board shall have sole discretion to make such changes without obtaining stockholder approval. 

  
 - 27 - 

	Section 8.3	Incentive Stock Options. 

 Each Option granted to a U.S. Resident shall be designated in
the Grant Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. Any Option designated as an Incentive Stock Option: (a) shall be granted only to a Participant who is an employee of the Corporation or Subsidiary;
(b) in the case of an Incentive Stock Option granted to a Participant who, at the time the Incentive Stock Option is granted, owns shares of the Corporation representing more than ten percent (10%) of the voting power of all classes of shares
of the Corporation or any parent or subsidiary, shall be granted with an Option Price that is not less than one hundred ten percent (110%) of the Market Value of a Share on the date of grant; (c) shall not have an aggregate Market Value (determined
for each Incentive Stock Option at the date of grant) of Shares with respect to which Incentive Stock Options are exercisable for the first time by the Participant during any calendar year (under the Plan and any other employee stock option plan of
the Corporation or any parent or subsidiary), determined in accordance with the provisions of Section 422 of the Code, that exceeds $100,000; and (d) shall have a term not exceeding ten (10) years from the date of grant or such
shorter term as may be provided in the Grant Agreement and, in the case of an Incentive Stock Option granted to a Participant who, at the time the Incentive Stock Option is granted, owns shares of the Corporation representing more than ten percent
(10%) of the voting power of all classes of shares of the Corporation or any parent or subsidiary, the term of the Incentive Stock Option shall be five (5) years from the date of grant or such shorter term as may be provided in the Grant
Agreement. No Incentive Stock Options may be granted under the Plan after the tenth (10th) anniversary of the earlier of the effective date of the Plan or the date the Plan was approved by the
Board. 
  

	Section 8.4	Section 409A. 

  

	(1)	Without limiting the generality of this Section 8.4, each Award will contain such terms as the Board determines, and will be construed and administered, such that the Award either qualifies for an exemption from
the requirements of Section 409A or satisfies such requirements. 

  

	(2)	Notwithstanding Section 8.1 and Section 8.2 of this Plan or any other provision of this Plan or any Grant Agreement to the contrary, the Board may unilaterally amend, modify or terminate the Plan or any
outstanding Award, including but not limited to changing the form of the Award, if the Board determines that such amendment, modification or termination is necessary or advisable to avoid the imposition of an additional tax, interest or penalty
under Section 409A. 

  

	(3)	If a Participant is deemed on the date of the Participant’s termination of employment or other service relationship with the Corporation or a Subsidiary to be a “specified employee” within the meaning of
that term under Section 409A(a)(2)(B), then, with regard to any payment that is considered nonqualified deferred compensation under Section 409A, to the extent applicable, payable on account of a “separation from service”, such payment
will be made or provided on the date that is the earlier of (i) the expiration of the six-month period measured from the date of such “separation from service” and (ii) the date of the
Participant’s death (the “Delay Period”). Upon the expiration of the Delay Period, all payments delayed pursuant to this Section 8.4(3) (whether they would have otherwise been payable in a single lump sum or in
installments in the absence of such delay) will be paid on the first Business Day following the expiration of the Delay Period in a lump sum and any remaining payments due under the Award will be paid in accordance with the normal payment dates
specified for them in the applicable Grant Agreement. 

  
 - 28 - 

	(4)	For purposes of Section 409A, each payment made under this Plan will be treated as a separate payment. 

ARTICLE 9 

ADJUSTMENTS AND AMENDMENTS 
  

	Section 9.1	Adjustment to Shares Subject to Outstanding Awards. 

 At any time after the grant of an
Award to a Participant and prior to the expiration of the term of such Award or the forfeiture or cancellation of such Award, in the event of (i) any subdivision of the Shares into a greater number of Shares, (ii) any consolidation of
Shares into a lesser number of Shares, (iii) any reclassification, reorganization or other change affecting the Shares, (iv) any merger, amalgamation or consolidation of the Corporation with or into another corporation, or (iv) any
distribution to all holders of Shares or other securities in the capital of the Corporation, of cash, evidences of indebtedness or other assets of the Corporation (excluding an ordinary course dividend in cash or shares, but including for greater
certainty shares or equity interests in a subsidiary or business unit of the Corporation or one of its subsidiaries or cash proceeds of the disposition of such a subsidiary or business unit) or any transaction or change having a similar effect, then
the Board shall in its sole discretion, subject to the required approval of any Stock Exchange, determine the appropriate adjustments or substitutions to be made in such circumstances in order to maintain the economic rights of the Participant in
respect of such Award in connection with such occurrence or change, including, without limitation: 
  

	 	(a)	adjustments to the exercise price of such Award without any change in the total price applicable to the unexercised portion of the Award; 

 

	 	(b)	adjustments to the number of Shares to which the Participant is entitled upon exercise of such Award; 

  

	 	(c)	adjustments permitting the immediate exercise of any outstanding Awards that are not otherwise exercisable; or 

  

	 	(d)	adjustments to the number of kind of Shares reserved for issuance pursuant to the Plan. 

  

	Section 9.2	Change of Control. 

 Notwithstanding anything else to the contrary herein, in the event
of a potential Change of Control, the Board shall have the power, in its sole discretion, to modify the terms of this Plan and/or the Awards (including, for greater certainty, to cause the vesting of all unvested Awards) to assist the Participants
to tender into a take-over bid or participating in any other transaction leading to a Change of Control. For greater certainty, in the event of a take-over bid or any other transaction leading to a Change of Control, the Board shall have the power,
in its sole discretion, to (i) provide that any or all Awards shall thereupon terminate, provided that any such outstanding Awards that have vested shall remain exercisable until consummation of such Change of Control, and (ii) permit
Participants to conditionally exercise their Options and SARs, such conditional exercise to be conditional upon the take-up by such offeror of the Shares 

  
 - 29 - 

 
or other securities tendered to such take-over bid in accordance with the terms of such take-over bid (or the effectiveness of such other transaction leading to a Change of Control). If, however,
the potential Change of Control referred to in this Section 9.2 is not completed within the time specified therein (as the same may be extended), then notwithstanding this Section 9.2 or the definition of “Change of Control”: (i)
any conditional exercise of vested Options and/or SARs shall be deemed to be null, void and of no effect, and such conditionally exercised Awards shall for all purposes be deemed not to have been exercised, (ii) Shares which were issued
pursuant to exercise of Options and/or SARs which vested pursuant to this Section 9.2 shall be returned by the Participant to the Corporation and reinstated as authorized but unissued Shares, and (iii) the original terms applicable to
Awards which vested pursuant to this Section 9.2 shall be reinstated. 
  

	Section 9.3	Amendment or Discontinuance of the Plan. 

  

	(1)	The Board may suspend or terminate the Plan at any time, or from time to time amend or revise the terms of the Plan or any granted Award without the consent of the Participants provided that such suspension,
termination, amendment or revision shall: 

  

	 	(a)	not adversely alter or impair the rights of any Participant, without the consent of such Participant except as permitted by the provisions of the Plan; 

 

	 	(b)	be in compliance with applicable law and with the prior approval, if required, of the shareholders of the Corporation, the TSX, the NYSE or any other regulatory body having authority over the Corporation; and

  

	 	(c)	be subject to shareholder approval, where required by law or the requirements of the TSX and the NYSE, provided that the Board may, from time to time, in its absolute discretion and without approval of the shareholders
of the Corporation make the following amendments to this Plan: 

  

	 	(i)	any amendment to the vesting provision, if applicable, or assignability provisions of the Awards; 

  

	 	(ii)	any amendment to the expiration date of an Award that does not extend the terms of the Award past the original date of expiration of such Award; 

 

	 	(iii)	any amendment regarding the effect of termination of a Participant’s employment or engagement; 

  

	 	(iv)	any amendment which accelerates the date on which any Option or SAR may be exercised under the Plan; 

  

	 	(v)	any amendment to the definition of an Eligible Participant under the Plan; 

  

	 	(vi)	any amendment necessary to comply with applicable law or the requirements of the TSX, the NYSE or any other regulatory body; 

  
 - 30 - 

	 	(vii)	any amendment of a “housekeeping” nature, including to clarify the meaning of an existing provision of the Plan, correct or supplement any provision of the Plan that is inconsistent with any other provision of
the Plan, correct any grammatical or typographical errors or amend the definitions in the Plan; 

  

	 	(viii)	any amendment regarding the administration of the Plan; 

  

	 	(ix)	any amendment to add provisions permitting the grant of Awards settled otherwise than with Shares issued from treasury, a form of financial assistance or clawback, and any amendment to a provision permitting the grant
of Awards settled otherwise than with Shares issued from treasury, a form of financial assistance or clawback which is adopted; and 

  

	 	(x)	any other amendment that does not require the approval of the shareholders of the Corporation under Section 9.3(2). 

  

	(2)	Notwithstanding Section 9.3(1), the Board shall be required to obtain shareholder approval to make the following amendments: 

  

	 	(a)	any increase to the maximum number of Shares issuable under the Plan, except in the event of an adjustment pursuant to Article 9; 

 

	 	(b)	except in the case of an adjustment pursuant to Article 9, any amendment which reduces the exercise price of an Option or SAR or any cancellation of an Option or SAR and replacement of such Option or SAR with an
Option or SAR with a lower exercise price, to the extent such reduction or replacement benefits an Insider; 

  

	 	(c)	any amendment which extends the expiry date of any Award, or the Restriction Period of any RSU beyond the original expiry date or Restriction Period to the extent such amendment benefits an Insider;

  

	 	(d)	any amendment which increases the maximum number of Shares that may be (i) issuable to Insiders at any time; or (ii) issued to Insiders under the Plan and any other proposed or established Share Compensation
Arrangement in a one-year period, except in case of an adjustment pursuant to Article 9; and 

  

	 	(e)	any amendment to the amendment provisions of the Plan; 

 provided that Shares held directly or
indirectly by Insiders benefiting from the amendments shall be excluded when obtaining such shareholder approval. 
  

	(3)	 The Board may, by resolution, advance the date on which any Award may be exercised or payable or, subject to
applicable regulatory provisions, including any rules of a Stock Exchange or shareholder approval requirements of Section 409A, extend the expiration date of any Award, in the manner to be set forth in such resolution provided that the period during
which an Option or a SAR is exercisable or RSU is outstanding does not 

  
 - 31 - 

	 	
exceed ten (10) years from the date such Option or SAR is granted in the case of Options and SARs and three (3) years after the calendar year in which the award is granted in the case
of RSUs. The Board shall not, in the event of any such advancement or extension, be under any obligation to advance or extend the date on or by which any Option or SAR may be exercised or RSU may be outstanding by any other Participant.

 ARTICLE 10 

MISCELLANEOUS 
  

	Section 10.1	Use of an Administrative Agent and Trustee. 

 The Board may in its sole discretion
appoint from time to time one or more entities to act as administrative agent or trustee to administer the Awards granted under the Plan and to act as trustee to hold and administer the assets that may be held in respect of Awards granted under the
Plan, the whole in accordance with the terms and conditions determined by the Board in its sole discretion. The Corporation and the administrative agent will maintain records showing the number of Awards granted to each Participant under the Plan.

  

	Section 10.2	Tax Withholding. 

  

	(1)	Notwithstanding any other provision of this Plan, all distributions, delivery of Shares or payments to a Participant (or to the liquidator, executor or administrator, as the case may be, of the estate of the
Participant) under the Plan shall be made net of applicable taxes and source deductions. If the event giving rise to the withholding obligation involves an issuance or delivery of Shares, then, the withholding obligation may be satisfied by
(a) having the Participant elect to have the appropriate number of such Shares sold by the Corporation, the Corporation’s transfer agent and registrar or any trustee appointed by the Corporation pursuant to Section 10.1 hereof, on
behalf of and as agent for the Participant as soon as permissible and practicable, with the proceeds of such sale being delivered to the Corporation, which will in turn remit such amounts to the appropriate governmental authorities, or (b) any
other mechanism as may be required or appropriate to conform with local tax and other rules. 

  

	(2)	Notwithstanding Section 10.2(1), the applicable tax withholdings may be waived where a Participant other than a U.S. Resident directs in writing that a payment be made directly to the Participant’s registered
retirement savings plan in circumstances to which subsection 100(3) of the regulations made under the Tax Act apply. 

  

	Section 10.3	Clawback. 

 Notwithstanding any other provisions in this Plan, any Award which is subject
to recovery under any law, government regulation or stock exchange listing requirement, will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation or stock exchange listing requirement
(or any policy adopted by the Corporation pursuant to any such law, government regulation or stock exchange listing requirement). Without limiting the generality of the foregoing, the Board may provide in any case that outstanding Awards (whether or
not vested or exercisable) and the proceeds from the exercise or disposition of Awards or Shares acquired under Awards will be subject to forfeiture 

  
 - 32 - 

 
and disgorgement to the Corporation, with interest and other related earnings, if the Participant to whom the Award was granted violates (i) a
non-competition, non-solicitation, confidentiality or other restrictive covenant by which he or she is bound, or (ii) any policy adopted by the Corporation
applicable to the Participant that provides for forfeiture or disgorgement with respect to incentive compensation that includes Awards under the Plan. In addition, the Board may require forfeiture and disgorgement to the Corporation of outstanding
Awards and the proceeds from the exercise or disposition of Awards or Shares acquired under Awards, with interest and other related earnings, to the extent required by law or applicable stock exchange listing standards, including, without
limitation, Section 10D of the Exchange Act, and any related policy adopted by the Corporation. Each Participant, by accepting or being deemed to have accepted an Award under the Plan, agrees to cooperate fully with the Board, and to cause any and
all permitted transferees of the Participant to cooperate fully with the Board, to effectuate any forfeiture or disgorgement required hereunder. Neither the Board nor the Corporation nor any other person, other than the Participant and his or her
permitted transferees, if any, will be responsible for any adverse tax or other consequences to a Participant or his or her permitted transferees, if any, that may arise in connection with this Section 10.3. 

 

	Section 10.4	Securities Law Compliance. 

  

	(1)	The Plan (including any amendments to it), the terms of the grant of any Award under the Plan, the grant of any Award and exercise of any Option or SAR, and the Corporation’s obligation to sell and deliver Shares
in respect of any Awards, shall be subject to all applicable federal, provincial, state and foreign laws, rules and regulations, the rules and regulations of applicable Stock Exchanges and to such approvals by any regulatory or governmental agency
as may, as determined by the Corporation, be required. The Corporation shall not be obliged by any provision of the Plan or the grant of any Award hereunder to issue, sell or deliver Shares in violation of such laws, rules and regulations or any
condition of such approvals. 

  

	(2)	No Awards shall be granted, and no Shares shall be issued, sold or delivered hereunder, where such grant, issue, sale or delivery would require registration of the Plan or of the Shares under the securities laws of any
foreign jurisdiction (other than Canada and the United States) or the filing of any prospectus for the qualification of same thereunder, and any purported grant of any Award or purported issue or sale of Shares hereunder in violation of this
provision shall be void. 

  

	(3)	The Corporation shall have no obligation to issue any Shares pursuant to this Plan unless upon official notice of issuance such Shares shall have been duly listed with a Stock Exchange. Shares issued, sold or delivered
to Participants under the Plan may be subject to limitations on sale or resale under applicable securities laws. 

  

	(4)	If Shares cannot be issued to a Participant upon the exercise of an Option or a SAR due to legal or regulatory restrictions, the obligation of the Corporation to issue such Shares shall terminate and any funds paid to
the Corporation in connection with the exercise of such Option or SAR will be returned to the applicable Participant as soon as practicable. 

  
 - 33 - 

	Section 10.5	Reorganization of the Corporation. 

 The existence of any Awards shall not affect in any
way the right or power of the Corporation or its shareholders to make or authorize any adjustment, reclassification, recapitalization, reorganization or other change in the Corporation’s capital structure or its business, or any amalgamation,
combination, merger or consolidation involving the Corporation or to create or issue any bonds, debentures, shares or other securities of the Corporation or the rights and conditions attaching thereto or to affect the dissolution or liquidation of
the Corporation or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar nature or otherwise. 
  

	Section 10.6	Quotation of Shares. 

 So long as the Shares are listed on one or more Stock Exchanges,
the Corporation must apply to such Stock Exchange or Stock Exchanges for the listing or quotation, as applicable, of the Shares underlying the Awards granted under the Plan, however, the Corporation cannot guarantee that such Shares will be listed
or quoted on any Stock Exchange. 
  

	Section 10.7	No Fractional Shares. 

 No fractional Shares shall be issued upon the exercise of any
Option or SAR granted under the Plan and, accordingly, if a Participant would become entitled to a fractional Share upon the exercise of such Option or SAR, or from an adjustment permitted by the terms of this Plan, such Participant shall only have
the right to purchase the next lowest whole number of Shares, and no payment or other adjustment will be made with respect to the fractional interest so disregarded. 
  

	Section 10.8	Governing Laws. 

 The Plan and all matters to which reference is made herein shall be
governed by and interpreted in accordance with the laws of the Province of Ontario and the laws of Canada applicable therein. 
  

	Section 10.9	Severability. 

 The invalidity or unenforceability of any provision of the Plan shall not
affect the validity or enforceability of any other provision and any invalid or unenforceable provision shall be severed from the Plan. 
  

	Section 10.10	Effective Date of the Plan 

 The Plan was approved by the Board and shall take effect on
●, 2017. 

  
 - 34 -EX-10.29

 Exhibit 10.29 

CANADA GOOSE HOLDINGS INC. 

EMPLOYEE SHARE PURCHASE PLAN 
  

	1.	Purpose 

 This Plan is intended to provide employees of the Corporation and other
Participating Entities with an opportunity to acquire a proprietary interest in the Corporation through the purchase of Subordinate Voting Shares. The Corporation, by means of this Plan, seeks to retain the services of such eligible employees, to
secure and retain the services of new employees and to provide incentives for such persons to exert maximum effort for the success of the Corporation. 
  

	2.	Definitions 

 “Administrative Agent” means the financial services firm
or other agent designated by the Corporation to maintain ESPP Accounts on behalf of Participants who have purchased Subordinate Voting Shares under the Plan; 

“Affiliate” has the meaning attributed thereto in National Instrument
45-106 – Prospectus Exemptions; 
 “Blackout Period” means a period
of time when, pursuant to any policies of the Corporation (including the Corporation’s insider trading policy), any securities of the Corporation may not be traded by certain persons designated by the Corporation; 

“Board” means the board of directors of the Corporation; 

“Business Day” means a day other than a Saturday, Sunday or statutory holiday, when banks are generally open for business in
Toronto, Ontario and New York, New York, for the transaction of banking business; 
 “Compensation” means the base salary or
base hourly wages for non-overtime work paid to an Eligible Employee by a Participating Entity as compensation for services to a Participating Entity, before deduction for any contributions made by the
Eligible Employee to any tax-qualified or nonqualified deferred compensation plan or contributions for any health or welfare benefit programs; 

“Corporate Transaction” means a sale or conveyance of all or substantially all of the property and assets of the Corporation
or any merger, consolidation, amalgamation, combination, plan of arrangement or offer to acquire all of the outstanding Subordinate Voting Shares or other similar transaction; 

“Corporation” means Canada Goose Holdings Inc. and its respective successors and assigns, and any reference in the Plan to
action by the Corporation means action by or under the authority of the Board or any person or committee that has been designated for the purpose by the Board; 

 “Eligible Employee” means an Employee who is customarily employed for at least
twenty-five (25) hours per week and more than five (5) months in any calendar year. Notwithstanding the foregoing, the Board may exclude from participation in the Plan or in any Offering Period Employees who are participating in another
equity-based incentive program, Employees who have been employed by any Participating Entity for less than six (6) months, “officers” of any Participating Entity and Employees whose principal duties consist of supervising the work
of other Employees. The Board may from time to time establish different eligibility standards for Employees; 
 “Employee”
means any person who renders services to a Participating Entity as an employee pursuant to an employment relationship with such employer. For purposes of the Plan, the employment relationship shall be treated as continuing intact while the
individual is on military leave, sick leave or other leave of absence approved by a Participating Entity. Where the period of leave exceeds three (3) months, and the individual’s right to
re-employment is not guaranteed by statute or contract, the employment relationship shall be deemed to have terminated on the first day immediately following such three-month period; 

“Enrollment Form” means an agreement pursuant to which an Eligible Employee may elect to enroll in the Plan, to authorize a
new level of payroll deductions, or to stop payroll deductions and withdraw from an Offering Period; 
 “ESPP Account” means
an account into which Subordinate Voting Shares purchased with the accumulated Participant’s Contribution and the applicable Employer Contribution at the end of an Offering Period are held on behalf of a Participant; 

“Fair Market Value” means, as of any date, (i) the closing price of the Subordinate Voting Shares on the TSX, in relation
to Participants whose Compensation is paid in Canadian dollars, (ii) the closing price of the Subordinate Voting Shares on the NYSE, in relation to Participants whose Compensation is paid in U.S. dollars or any other foreign currency, or
(iii) if the Subordinate Voting Shares are not listed on such stock exchanges, the value as is determined solely by the Board, acting in good faith; 

“Multiple Voting Share” means a multiple voting share in the capital of the Corporation; 

“NYSE” means the New York Stock Exchange; 

“Offering Date” means the first Trading Day of each Offering Period as designated by the Board; 

“Offering Period” means the period of time Participants’ Contributions are accumulated for the purchase of Subordinate
Voting Shares under this Plan on the Purchase Date. Pursuant to Section 9, the Board may change the duration of future Offering Periods and/or the start and end dates of future Offering Periods; 

  
 2 

 “Participant” means an Eligible Employee who is actively participating in the
Plan; 
 “Participating Entity” means the Corporation and any Affiliate of the Corporation which is designated by the Board
from time to time in its sole discretion; 
 “Plan” means this Canada Goose Holdings Inc. Employee Share Purchase Plan, as
set forth herein, and as amended from time to time; 
 “Purchase Date” means the last Trading Day of each Offering Period;

 “Share Compensation Arrangement” means any stock option, stock option plan, employee stock purchase plan or any other
compensation or incentive mechanism of the Corporation involving the issuance or potential issuance of Subordinate Voting Shares, including a share purchase from treasury which is financially assisted by the Corporation by way of a loan, guarantee
or otherwise, including this Plan; 
 “Stock Exchange” means the TSX or the NYSE or, if the Subordinate Voting Shares are
not listed or posted for trading on any of such stock exchanges at a particular date, any other stock exchange on which the majority of the trading volume and value of the Subordinate Voting Shares are listed or posted for trading; 

“Subordinate Voting Share” means a subordinate voting share in the capital of the Corporation; 

“Tax Act” means the Income Tax Act (Canada) and its regulations thereunder, as amended from time to time; 

“Termination Date” means the earlier of: (i) the date specified in the written notice of termination or resignation of a
Participant; and (ii) the last day worked by the Participant, provided such date shall not be prior to the last day of any minimum statutory notice period, if applicable; 

“Trading Day” means any day on which each of the TSX and NYSE is open for trading; 

“Treasury Regulations” means the tax regulations promulgated by the United States Internal Revenue Service under the United
States Internal Revenue Code of 1986, as amended; and 
 “TSX” means the Toronto Stock Exchange. 

 

	3.	Interpretation 

  

	 	3.1	Whenever the Board is to exercise discretion or authority in the administration of the terms and conditions of this Plan, the term “discretion” or “authority” means the sole and absolute discretion
of the Board. 

  
 3 

	 	3.2	The division of this Plan into Articles, Sections and other subdivisions and the insertion of headings are for convenient reference only and do not affect the interpretation of this Plan. As used herein, the expressions
“Article”, “Section” and other subdivision followed by a number, mean and refer to the specified Article, Section or other subdivision of this Plan, respectively. 

 

	 	3.3	In this Plan, words importing the singular shall include the plural, and vice versa and words importing any gender include any other gender. 

 

	 	3.4	The words “including”, “includes” and “include” and any derivatives of such words mean “including (or includes or include) without limitation”. 

 

	 	3.5	Unless otherwise specified, all references to money amounts are to Canadian currency. 

  

	 	3.6	For purposes of this Plan, the legal representatives of a Participant shall only include the administrator, the executor or the liquidator of the Participant’s estate or will. 

 

	 	3.7	If any action may be taken within, or any right or obligation is to expire at the end of, a period of days under this Plan, then the first day of the period is not counted, but the day of its expiry is counted.

  

	4.	Administration 

  

	 	4.1	This Plan will be administered by the Board and the Board has complete authority, in its discretion, to interpret the provisions of this Plan. Nothing contained herein shall prevent the Board from adopting other or
additional Share Compensation Arrangements or other compensation arrangements, subject to any required approval. In administering and interpreting the Plan, the Board may adopt, amend and rescind administrative guidelines and other rules and
regulations relating to this Plan and make all other determinations and take all other actions necessary or advisable for the implementation and administration of this Plan, including adopting sub-plans
applicable to particular Participating Entities or locations, which the Board determines, in its discretion, are necessary or advisable. The Board’s determinations and actions within its authority under this Plan are final, conclusive and
binding on the Corporation, its Affiliates and all other persons, including all Participants, Eligible Employees and their respective legal representatives and beneficiaries. 

 

	 	4.2	The Corporation shall pay all expenses incurred in the administration of the Plan except for brokerage fees or expenses associated with the sale or transfer of Subordinate Voting Shares by a Participant, which fees and
expenses shall be borne by such Participant. 

  

	 	4.3	In any case where the strict application of any provision of the Plan may cause hardship to a Participant, the Board may in its sole discretion waive or partially waive such strict application, on such terms as it deems
appropriate, provided that such a waiver shall not constitute a general waiver of such provision. 

  
 4 

	5.	Delegation to Committee 

 To the extent permitted by applicable law, the Board may, from
time to time, delegate to any committee of the Board or to an officer or officers of the Corporation all or any of the powers conferred on the Board under the Plan. In such event, references to the Board mean and include such committee or such
officer or officers and such committee or each such officer will exercise the powers delegated to it by the Board in the manner and on the terms authorized by the Board. Any decisions made or actions taken by such committee or by any such officer or
officers arising out of or in connection with the administration or interpretation of this Plan within its authority under this Plan, are final, conclusive and binding on the Participating Entities and all other persons, including all Participants,
Eligible Employees and their respective personal representatives and beneficiaries. Any such delegation by the Board may be revoked at any time by the Board at its sole discretion. 

 

	6.	Liability 

 No member of the Board or any person acting pursuant to authority delegated
by the Board hereunder shall be liable for any action or determination in connection with the Plan made or taken in good faith, and each member of the Board and each such person shall be entitled to indemnification by the Corporation with respect to
any such action or determination. For greater clarity, this indemnification is in addition to any rights of indemnification a member of the Board may have as director of the Corporation or otherwise. 

 

	7.	Allotment or Issuance of Shares 

 The Plan shall not in any way fetter, limit, obligate,
restrict or constrain the Board with regard to the allotment or issuance of any Subordinate Voting Shares or any other securities of the Corporation (including Multiple Voting Shares) other than as specifically provided for in the Plan. 

 

	8.	Eligibility 

 Unless otherwise determined by the Board in a manner that is consistent
with this Plan, any individual who is an Eligible Employee as of the first day of the enrollment period designated by the Board for a particular Offering Period shall be eligible to participate in such Offering Period. 

 

	9.	Offering Periods. 

 The Plan shall be implemented by a series of Offering Periods. The
initial Offering Period shall be as determined by the Board. Thereafter, each Offering Period shall be three (3) months in duration, with new Offering Periods commencing on June 30, September 30, December 31 and March 31 of
each year (or such other times as determined by the Board). The Board shall have the authority to change the duration, frequency, start and end dates of Offering Periods.  

  
 5 

	10.	Assets of the Plan 

 The Participants’ Contributions and the Employer Contribution,
if any, shall be remitted to the Administrative Agent as soon as may be required by the Administrative Agent prior to the Purchase Date. Such contributions, all Subordinate Voting Shares purchased with such contributions, such portion of the cash
from the contributions which could not be used to purchase Subordinate Voting Shares, together with all income therefrom from the date of receipt by the Administrative Agent, shall constitute the assets of the Plan and shall be held, invested,
managed, administered and dealt with by the Administrative Agent pursuant to the terms of the Plan. 
  

	11.	Allocation to Participants 

 The Administrative Agent shall maintain a separate ESPP
Account for each Participant and shall credit to the ESPP Account of a Participant, in addition to the Subordinate Voting Shares purchased under this Plan, the applicable Employer Contribution made with respect to such Participant as well as such
Participant’s Contribution, and such portion of the cash from the contributions which could not be used to purchase Subordinate Voting Shares. The Administrative Agent shall allocate to each Participant all income received, capital gains
realized and capital losses sustained on such Participant’s ESPP Account at such time or times as the Administrative Agent may determine but in any event, within ninety (90) days after the end of the Offering Period in which they are
received, realized or sustained. 
  

	12.	Participation 

  

	 	12.1	Enrollment; Payroll Deductions 

  

	 	(a)	Participation. An Eligible Employee may elect to participate in the Plan in an Offering Period by properly completing and submitting to the Corporation an Enrollment Form not later than 5 Business Days following
the first day of such Offering Period. Such Enrollment Form shall be submitted in accordance with the enrollment procedures established by the Board from time to time in its sole discretion. 

 

	 	(b)	 No Effect on Employment. Participation in the Plan is entirely voluntary and any decision not to
participate in an Offering Period shall not affect an Employee’s employment with any Participating Entity. Notwithstanding any express or implied term of this Plan to the contrary, the participation of an Eligible Employee in an Offering Period
shall in no way be construed as a guarantee of employment by any Participating Entity, and shall not impose upon such Participating Entity any obligation to retain the Participant in its employ in any capacity. Nothing contained in this Plan shall
interfere in any way with the rights of the relevant Participating Entity in connection with the employment, 

  
 6 

	 	
retention or termination of any such Participant. The loss of existing or potential profit in Subordinate Voting Shares granted under this Plan shall not constitute an element of damages in the
event of termination of a Participant’s employment or service in any office or otherwise. 

  

	 	(c)	Deduction. By submitting an Enrollment Form, the Eligible Employee authorizes payroll deductions from his or her Compensation in an amount equal to at least one percent (1%), but not more than ten percent (10%)
of his or her Compensation on a gross basis on each pay day occurring during an Offering Period (or such other maximum percentage as the Board may establish from time to time before an Offering Period begins); provided, however, that in no event
shall a Participant’s payroll deductions in any calendar year exceed $15,000 (or such lower amount as determined from time to time by the Board) (the “Participant’s Contribution”). The Participant’s Contribution shall
commence on the first payroll date following the Offering Date and end on the last payroll date on or before the Purchase Date. The Corporation shall maintain records of all Participant’s Contributions but shall have no obligation to pay
interest on Participant’s Contributions or to hold such amounts in a trust or in any segregated account. Unless expressly permitted by the Board, a Participant may not make any separate contributions or payments to the Plan and/or any
retroactive contribution to the Plan. 

  

	 	12.2	Currency Exchange Rates. In the case of Participants whose salary is paid in a currency other than Canadian or U.S. dollars, the necessary conversions to Canadian or U.S. dollars, as applicable for the
purpose of any acquisition or sale of Subordinate Voting Shares in connection with the Plan shall be made at the end of the Offering Period on the basis of the exchange rates obtained by the relevant Participating Entities or the Administrative
Agent at the time of each conversion. 

  

	 	12.3	Employer Contributions. With the approval of the Board, a Participating Entity may provide a Participant with cash contributions to purchase Subordinate Voting Shares (the “Employer
Contribution”). Such Employer Contribution shall be combined with the Participant’s Contributions and shall be used to purchase Subordinate Voting Shares on the Purchase Date. Such Employer Contribution shall not exceed 50% of the
Participant’s Contribution during each Offering Period. 

  

	 	12.4	 Election Changes. A Participant may decrease or increase his or her rate of Participant’s
Contribution for any current Offering Period by submitting a new Enrollment Form authorizing the new rate of Participant’s Contribution not later than five (5) Business Days following the first day of such Offering Period (or within such
other timeframe as determined from time to time by the Board), provided that such a modification may be made only once during an Offering Period. Any change made after such time will not become effective until the next Offering Period.
Notwithstanding the foregoing, to the extent necessary to 

  
 7 

	 	
comply with any applicable limits on the amount of Participant’s Contribution, a Participant’s rate of Participant’s Contribution may be decreased by the Corporation to as low as
0% at any time during an Offering Period. 

  

	 	12.5	Automatic Re-enrollment. The deduction rate selected in the Enrollment Form shall remain in effect for subsequent Offering Periods unless the Participant (i) submits a
new Enrollment Form authorizing a new level of Participant’s Contribution in accordance with Section 12.4, (ii) withdraws from the Plan in accordance with Section 15, or (iii) terminates employment or otherwise becomes ineligible
to participate in the Plan. 

  

	 	12.6	Blackout Periods. Notwithstanding any other provision of the Plan, if a Blackout Period is in effect, (i) an Eligible Employee subject to the Blackout Period may not enroll until after the end of the
Blackout Period, and (ii) a Participant subject to the Blackout Period may not make changes to authorized Participant’s Contribution, or voluntarily withdraw from the Plan until after the end of the Blackout Period. 

 

	13.	Grant of Right. 

 On each Offering Date, each Participant in the applicable Offering
Period shall be granted a right to purchase, on the Purchase Date, a number of Subordinate Voting Shares determined by dividing the accumulated Participant’s Contribution and any applicable Employer Contribution during the Offering Period by
the applicable Fair Market Value. 
  

	14.	Exercise of Right/Purchase of Shares. 

  

	 	14.1	A Participant’s right to purchase Subordinate Voting Shares will be exercised automatically on the Purchase Date of each Offering Period. The Participant’s Contribution and any applicable Employer Contribution
during the Offering Period will be used to purchase, at their Fair Market Value, the maximum number of whole Subordinate Voting Shares that can be purchased with the amounts in the Participant’s notional account. No fractional Subordinate
Voting Shares may be purchased. However, the Participant’s ESPP Account will be credited with notional fractional Subordinate Voting Shares which will be aggregated with other notional fractional Subordinate Voting Shares credited from other
Purchase Dates and any resulting whole Subordinate Voting Shares from such aggregation will be delivered to the Participant, subject to earlier withdrawal by the Participant in accordance with Section 15 or termination of employment in
accordance with Section 16. 

  

	 	14.2	If prior to a Purchase Date the Corporation determines that all or a portion of the Subordinate Voting Shares to which a Participant is entitled shall be issued from treasury, then: 

 

	 	(a)	the Corporation shall in writing advise the Corporation’s registrar and transfer agent and the Administrative Agent of such determination and the price therefor, showing the number of Subordinate Voting Shares that
shall be issued to such Participant; 

  
 8 

	 	(b)	the Administrative Agent shall forward from such Participant’s ESPP Account to the Corporation on or before the Purchase Date, a cash amount equal to the applicable purchase price including any fees, and, subject
to Section 12.2, the Corporation shall issue to such Participant from treasury the applicable number of Subordinate Voting Shares as determined by dividing the aggregate cash amount so transferred from the Participant’s ESPP Account by the
Fair Market Value; and 

  

	 	(c)	such Subordinate Voting Shares shall be issued as fully paid and non-assessable Subordinate Voting Shares in the capital of the Corporation. 

 

	 	14.3	The Administrative Agent shall allocate all Subordinate Voting Shares issued or purchased on behalf of a Participant to such Participant’s ESPP Account, immediately following the Purchase Date, pending distribution
to such Participant. All Subordinate Voting Shares so allocated to the Participant’s ESPP Account shall be registered in the name of the Administrative Agent or its nominee or held in book-entry form for the benefit of the Participant. The
Participant for whose account such Subordinate Voting Shares are held by the Administrative Agent shall be entitled to all rights of ownership incidental thereto, including the right to receive dividends and other distributions payable in respect of
the Subordinate Voting Shares and to receive notice of, attend and vote at meetings of shareholders of the Corporation. 

  

	 	14.4	Any dividend or other income or distribution received on the Subordinate Voting Shares paid with respect to the Subordinate Voting Shares held in an ESPP Account, if any, shall be automatically reinvested in Subordinate
Voting Shares from time to time in accordance with the provisions of this Plan. The Board shall have the right at any time or from time to time upon notice to Participants to change the default dividend reinvestment policy. 

 

	15.	Withdrawal 

  

	 	15.1	Withdrawal Procedure. A Participant may withdraw from an Offering Period by submitting to the Corporation a revised Enrollment Form indicating his or her election to withdraw at least thirty (30) Business
Days (or within such other timeframe as determined from time to time by the Board) before the Purchase Date. The accumulated Participant’s Contribution (that has not been used to purchase Subordinate Voting Shares) shall be paid or delivered,
as applicable, to the Participant promptly following receipt of the Participant’s Enrollment Form indicating his or her election to withdraw and the Participant’s rights under this Plan shall be automatically terminated. If a Participant
withdraws from an Offering Period, no additional Participant’s Contribution will be made during any succeeding Offering Period, unless the Participant re-enrolls in accordance with Section 12.1 of
the Plan. 

  
 9 

	 	15.2	Effect on Succeeding Offering Periods. A Participant’s election to withdraw from an Offering Period will not have any effect upon his or her eligibility to participate in succeeding Offering Periods that
commence following the completion of the Offering Period from which the Participant withdraws. 

  

	16.	Termination of Employment; Change in Employment Status 

  

	 	16.1	Upon termination of a Participant’s employment with a Participating Entity for any reason, including death, disability, resignation or retirement, or a change in the Participant’s employment status following
which the Participant is no longer an Eligible Employee, which in any case occurs at least five (5) Business Days before the Purchase Date, the Participant will be deemed to have withdrawn from the Plan as of the Termination Date and the
Participant’s Contribution (that has not been used to purchase Subordinate Voting Shares) shall be returned to the Participant, or in the case of the Participant’s death, to the person(s) entitled to such amounts under Section 24, and
the Participant’s rights under this Plan shall be automatically terminated as of the Termination Date. If the Participant’s Termination Date occurs within five (5) Business Days before a Purchase Date, the accumulated
Participant’s Contribution and any applicable Employer Contribution shall be used to purchase Subordinate Voting Shares on the Purchase Date. 

  

	 	16.2	A Participant whose participation in the Plan has terminated as provided in Section 16.1 or his or her executors or administrators, as the case may be, may elect to deal with the Subordinate Voting Shares in such
Participant’s ESPP Account by completing a notice in the form prescribed by the Corporation and filing it with the Administrative Agent within ninety (90) days after termination of the Participant’s participation in the Plan
requesting that: 

  

	 	(a)	share certificates for all of the whole Subordinate Voting Shares in the Participant’s ESPP Account be issued in his or her name or as directed, in which case the Administrative Agent shall make the necessary
arrangements for the issuance and delivery of the appropriate certificates representing the Subordinate Voting Shares as soon as practicable following receipt of any such notice, and the Participant or his or her executors or administrators, as the
case may be, will be responsible for paying any applicable fees in connection therewith (by deduction from their personal account prior to issuance of the share certificates); or 

 

	 	(b)	all of the Subordinate Voting Shares in the Participant’s ESPP Account be sold and the proceeds distributed to him or her or as directed, in which case the Administrative Agent shall sell all such Subordinate
Voting Shares as directed and forward the proceeds (net of any brokerage commissions and sales administration fees) to such Participant or as otherwise directed, or to his or her executors or administrators, as the case may be, as soon as
practicable following receipt of any such notice. 

  
 10 

	 	16.3	If no notice is filed pursuant to Section 16.2 within ninety (90) days after the termination of a Participant’s participation in the Plan, the Participant or his or her executors or administrators, as the
case may be, shall be deemed to have elected to request that the whole Subordinate Voting Shares in the Participant’s ESPP Account be sold and the proceeds distributed to him or her or as directed, in which case the Administrative Agent shall
sell all such Subordinate Voting Shares as directed and forward proceeds (net of any brokerage commissions and sales administration fees) to such Participant or as otherwise directed, or his to or her executors or administrators, as the case may be,
as soon as practicable following the end of such period. 

  

	 	16.4	The Participant or his or her executors or administrators, as the case may be, shall be responsible for ensuring compliance with the provisions of applicable securities laws and applicable tax laws in respect of the tax
consequences resulting from any transfer or sale or Subordinate Voting Shares pursuant to Section 16. 

  

	 	16.5	In all instances contemplated by this Section 16, the Participant shall receive the cash equivalent of any fractional Subordinate Voting Share credited to his or her ESPP Account. 

 

	17.	Termination for Inactivity 

 Where a Participant has not made a Participant’s
Contribution in the previous twenty-four (24) months, the Corporation may direct the Administrative Agent to terminate that Participant’s participation in the Plan. 

 

	18.	Leave of Absence 

 If a Participant ceases to be an Eligible Employee as a result of an
approved leave of absence, the Participant’s participation in the Plan shall continue, and accordingly, the Participant shall remit payment for the purchase of Subordinate Voting Shares as contemplated in Section 12.1, unless such
Participant has updated his or her Participant’s Contribution by completing and delivering to the Corporation a new Enrollment Form in accordance with Section 12.4, stating that he or she wishes that his or her Participant’s
Contribution to the Plan be suspended during the period of such absence, in which case such suspension shall apply until the Participant returns to active status and the Participant shall remain eligible for any applicable Employer
Contribution earned prior to such suspension. 
  

	19.	Shares Reserved for Plan 

  

	 	19.1	Number of Shares. A total of 500,000 Subordinate Voting Shares have been reserved as authorized for issuance under the Plan. The Subordinate Voting Shares purchased under the Plan may be Subordinate Voting Shares
issued from treasury or Subordinate Voting Shares acquired on the open market. Subordinate Voting Shares purchased on the open market will be deemed to have been issued pursuant to the plan for the purpose of the share reserve set forth in this
Section 19.1. 

  
 11 

	 	19.2	Over-Subscribed Offerings. The number of Subordinate Voting Shares which a Participant may purchase during an Offering Period may be reduced if the offering is over-subscribed. No right granted under the Plan
shall permit a Participant to purchase Subordinate Voting Shares which, if added together with the total number of Subordinate Voting Shares purchased by all other Participants in such offering would exceed the total number of Subordinate Voting
Shares remaining available under the Plan. If the Board determines that, on a particular Purchase Date, the number of Subordinate Voting Shares with respect to which rights are to be exercised exceeds the number of Subordinate Voting Shares then
available under the Plan, the Corporation shall make a pro rata allocation of the Subordinate Voting Shares remaining available for purchase in as uniform a manner as practicable and as the Board determines to be equitable. 

 

	20.	Participation Limits 

  

	 	20.1	The grant of rights under the Plan is subject to the following limitations: 

  

	 	(a)	No more than 10% of the Corporation’s outstanding Subordinate Voting Shares and Multiple Voting Shares (calculated on a non-diluted basis) may be issued under the Plan or
pursuant to any other Share Compensation Arrangements of the Corporation in any one (1) year period. 

  

	 	(b)	No more than 5% of the Corporation’s outstanding Subordinate Voting Shares and Multiple Voting Shares (calculated on a non-diluted basis) may be issued under the Plan or
pursuant to any other Share Compensation Arrangements of the Corporation to any one Participant. 

  

	21.	Transferability 

  

	 	21.1	No Participant’s Contribution credited to a Participant, nor any rights to receive Subordinate Voting Shares hereunder may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will,
the laws of descent and distribution, or as provided in Section 24 hereof) by the Participant. Any attempt to assign, transfer, pledge or otherwise dispose of such rights or amounts shall be without effect. 

 

	 	21.2	All of the Subordinate Voting Shares purchased by the Administrative Agent on behalf of a Participant pursuant to the provisions hereof shall be subject to a one-year contractual
hold from the date such Subordinate Voting Shares are acquired by the Administrative Agent on behalf of the Participant. 

  

	22.	Application of Funds 

 All Participant’s Contributions received or held by the
Corporation under the Plan may be used by the Corporation for any corporate purpose to the extent permitted by applicable law, and the Corporation shall not be required to segregate such Participant’s Contribution or Employer Contribution. 

  
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	23.	Statements 

 A statement of account shall be issued by the Administrative Agent to each
Participant as soon as is practical following the end of each Offering Period. The statement of account shall indicate for the relevant Offering Period the number of Subordinate Voting Shares allocated to the Participant’s ESPP Account
(including all whole and fractional shares), the number of Subordinate Voting Shares withdrawn from the ESPP Account, all cash dividends received in respect of the Subordinate Voting Shares held on the Participant’s ESPP Account, if any, and
the amount of any lump sum Participant’s Contribution received by the Administrative Agent. 
  

	24.	Designation of Beneficiary 

 A Participant may file, on forms supplied by the Board, a
written designation of beneficiary who is to receive any Subordinate Voting Shares and cash in respect of any fractional Subordinate Voting Shares, if any, from the Participant’s ESPP Account under the Plan in the event of such
Participant’s death. In addition, a Participant may file a written designation of beneficiary who is to receive any cash withheld through Participant’s Contributions in the event of the Participant’s death prior to the Purchase Date
of an Offering Period. 
  

	25.	Adjustments Upon Changes in Capitalization: Dissolution or Liquidation; Corporate Transactions 

  

	 	25.1	Adjustments. In the event that any special dividend or other special distribution (whether in the form of cash, securities, or other property), recapitalization, stock split, reverse stock split, reorganization,
merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of shares, or other change in the Corporation’s structure affecting the Subordinate
Voting Shares occurs, then in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, the Board shall conclusively determine the appropriate equitable adjustments, if any, to be
made under the Plan, including adjustments to the number of Subordinate Voting Shares which have been authorized for issuance under the Plan. 

  

	 	25.2	Dissolution or Liquidation. Unless otherwise determined by the Board, in the event of a proposed dissolution or liquidation of the Corporation, any Offering Period then in progress will be shortened by setting a
new Purchase Date and the Offering Period will end immediately prior to the proposed dissolution or liquidation. The new Purchase Date will be before the date of the Corporation’s proposed dissolution or liquidation. Before the new Purchase
Date, the Board will provide each Participant with written notice, which may be electronic, of the new Purchase Date and that the Participant’s right will be exercised automatically on such date, unless before such time, the Participant has
withdrawn from the Offering Period in accordance with Section 15. 

  
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	 	25.3	Corporate Transaction. In the event of a Corporate Transaction, each outstanding right will be assumed or an equivalent right substituted by the successor corporation or a parent or subsidiary of such successor
corporation. If the successor corporation refuses to assume or substitute the right, the Offering Period with respect to which the right relates will be shortened by setting a new Purchase Date on which the Offering Period will end. The new Purchase
Date will occur before the date of the Corporate Transaction. Prior to the new Purchase Date, the Board will provide each Participant with written notice, which may be electronic, of the new Purchase Date and that the Participant’s right will
be exercised automatically on such date, unless before such time, the Participant has withdrawn from the Offering Period in accordance with Section 15. 

  

	26.	General Provisions 

  

	 	26.1	Rights As Shareholder. A Participant will become a shareholder with respect to the Subordinate Voting Shares that are purchased pursuant to rights granted under the Plan when the Subordinate Voting Shares are
transferred to such Participant’s ESPP Account. A Participant will have no rights as a shareholder with respect to Subordinate Voting Shares for which an election to participate in an Offering Period has been made until such Participant becomes
a shareholder as provided above. 

  

	 	26.2	Successors and Assigns. The Plan shall be binding on the Corporation and its successors and assigns. Rights and obligations under this Plan may be assigned by the Corporation to a successor in the business of the
Corporation, any corporation resulting from any amalgamation, reorganization combination, merger or arrangement of the Corporation, or any corporation acquiring all or substantially all of the assets or business of the Corporation.

  

	 	26.3	Rights of Corporation. The provisions contained in this Plan and any rights available hereunder shall not affect in any way the right of the Corporation or its shareholders or Affiliates to take any action,
including any change in the Corporation’s capital structure or its business, or any acquisition, disposition, amalgamation, combination, merger or consolidation, or the creation or issuance of any bonds, debentures, shares or other securities
of the Corporation or of an Affiliate thereof or the determination of the rights and conditions attaching thereto, or the dissolution or liquidation of the Corporation or of any of its Affiliates or any sale or transfer of all or any part of their
respective assets or businesses, whether or not any such corporate action or proceeding would have an adverse effect on this Plan or any rights hereunder. 

  

	 	26.4	 Market Fluctuations. No amount will be paid to, or in respect of, a Participant under this Plan (including
any Subordinate Voting Shares that have not been issued), to compensate for a downward fluctuation in the price of the Subordinate Voting Shares, nor will any other form of benefit be conferred upon,

  
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or in respect of, a Participant for such purpose. The Corporation and Administrative Agent make no representations or warranties to the Participants with respect to this Plan or the Subordinate
Voting Shares whatsoever. In seeking the benefits of participation in this Plan, a Participant agrees to exclusively accept all risks associated with a decline in the Fair Market Value of the Subordinate Voting Shares and all other risks associated
with the rights hereunder. Neither the Corporation, any other Participating Entities or the Administrative Agent shall be liable to any Participant for any loss resulting from a decline in the Fair Market Value of any Subordinate Voting Share
purchased by a Participant pursuant to the Plan, any change in the market price of the Subordinate Voting Shares between the time of the Participant’s Contribution or the Employer Contribution and the time a purchase of Subordinate Voting
Shares using such contributions takes place, as well as any change in the market price of the Subordinate Voting Shares between the time any dividends are paid in respect of the Subordinate Voting Shares, if any, and the time a purchase of
Subordinate Voting Shares using such dividends takes place. 

  

	 	26.5	Compliance With Law. The obligations of the Corporation under the Plan are subject to compliance with all applicable laws and regulations. Subordinate Voting Shares shall not be issued with respect to any right
granted under the Plan unless the issuance and delivery of the Subordinate Voting Shares pursuant thereto shall comply with all applicable laws and the requirements of any Stock Exchange upon which the Subordinate Voting Shares may then be listed.
The Corporation shall have no obligation to issue any Subordinate Voting Shares pursuant to this Plan unless upon official notice of issuance such Subordinate Voting Shares shall have been duly listed with a Stock Exchange. If Subordinate Voting
Shares cannot be issued to a Participant due to legal or regulatory restrictions, the obligation of the Corporation to issue such Subordinate Voting Shares shall terminate. 

 

	 	26.6	Registration. No Subordinate Voting Shares shall be issued or sold hereunder, where such grant, issue, or sale would require registration of the Plan or of the Subordinate Voting Shares under the securities laws
of any foreign jurisdiction (other than Canada and the United States) or the filing of any prospectus for the qualification of same thereunder, and any purported issue or sale of Subordinate Voting Shares hereunder in violation of this provision
shall be void. 

  

	 	26.7	Quotation of Shares. So long as the Subordinate Voting Shares are listed on one or more Stock Exchanges, the Corporation must apply to such Stock Exchange or Stock Exchanges for the listing or quotation, as
applicable, of the Subordinate Voting Shares purchased under the Plan, however, the Corporation cannot guarantee that such Subordinate Voting Shares will be listed or quoted on any Stock Exchange. 

 

	 	26.8	Effective Date. The Plan shall become effective on ●, 2017 (the “Effective Date”). 

  
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	 	26.9	Amendment or Termination. Subject to the final sentence of this Section 26.9, the Board may amend, suspend or terminate the Plan, or any portion thereof, at any time, subject to those provisions of
applicable law (including the applicable rules, regulations and policies of any Stock Exchange) that require the approval of shareholders of the Corporation or any governmental or regulatory body. The Board may, from time to time, in its absolute
discretion and without seeking shareholder approval, make the following amendments (i) any amendment necessary to comply with applicable law or the requirements of the TSX, the NYSE or any other regulatory body; (ii) any amendment of a
“housekeeping” nature, including to clarify the meaning of an existing provision of the Plan, correct or supplement any provision of the Plan that is inconsistent with any other provision of the Plan, correct any grammatical or
typographical errors or amend the definitions in the Plan; (iii) any amendment regarding the administration of the Plan; (iv) any amendment to add an insider participation limit; and (v) any other amendment that does not require the
approval of the shareholders of the Corporation as provided for under the following sentence. Notwithstanding the foregoing, the Board shall be required to obtain shareholder approval to make the following amendments: 

 

	 	(a)	any amendment increasing the number of Subordinate Voting Shares reserved for issuance under the Plan; 

  

	 	(b)	any amendment lowering the purchase price payable for Subordinate Voting Shares under the Plan; 

  

	 	(c)	any amendment increasing the Employer Contribution; 

  

	 	(d)	any amendment amending the provisions of this Section 26.9; 

  

	 	(e)	any amendment extending eligibility to participate in the Plan to non-Employees; or 

  

	 	(f)	any amendment that is required to be approved by shareholders under applicable laws, regulations or Stock Exchange rules. 

Except as expressly set forth in the Plan, no action of the Board may adversely alter or impair the rights that have accrued to a Participant
on or prior to the date of amendment, suspension or termination without the consent of the affected Participant. 
  

	 	26.10	Governing Law. This Plan shall be governed by and construed and interpreted in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein. 

 

	 	26.11	 Withholding. To satisfy any applicable income and/or payroll tax withholding requirement (including with
respect to the Employer Contribution), the Corporation may withhold such income and/or payroll taxes from the Participant’s Compensation. Each Participating Entity is authorized to deduct or withhold from any amount payable or credited
hereunder such taxes and other 

  
 16 

	 	
amounts as it may be required by applicable law to deduct or withhold and to remit the amounts deducted or withheld to the applicable governmental authority as required by applicable law. If the
Participating Entity is required under applicable law to deduct or withhold and remit to the applicable government authority an amount on account of tax in respect of any amount paid hereunder and there is insufficient cash paid hereunder from which
to make the required deduction or withholding, the Participant shall: (a) pay to the Participating Entity sufficient cash as is reasonably determined by the Participating Entity to be the amount necessary to permit the required remittance;
(b) authorize Participating Entity, on behalf of the Participant, to sell in the market on such terms and at such time or times as the Participating Entity determines, a portion of the Subordinate Voting Shares issued hereunder to realize cash
proceeds to be used to satisfy the required tax remittance; or (c) make other arrangements acceptable to the Participating Entity to fund the required tax remittance, including authorizing additional tax withholding from other sources of
compensation. 

  

	 	26.12	Unfunded and Unsecured Plan. Participants (and their legal representatives) shall have no legal or equitable right, claim, or interest in any specific property or asset of any Participating Entity. No asset of
any Participating Entity shall be held in any way as collateral security for the fulfillment of the obligations of the Participating Entities under this Plan. Unless otherwise determined by the Board, this Plan shall be unfunded. To the extent any
Participant or his or her estate holds any rights by virtue of a grant of Subordinate Voting Shares under this Plan, such rights (unless otherwise determined by the Board) shall be no greater than the rights of an unsecured creditor of the
Corporation. 

  

	 	26.13	Other Employee Benefits. The amount of any compensation deemed to be received by a Participant as a result of participating in the Plan will not constitute compensation with respect to which any other employee
benefits of that Participant are determined including benefits under any bonus, pension, profit-sharing, insurance or salary continuation plan, except as otherwise specifically determined by the Board in writing. 

 

	 	26.14	Tax Consequences. It is the responsibility of the Participant to complete and file any tax returns and pay all taxes that may be required under Canadian, U.S. or other tax laws within the periods specified in
those laws as a result of the Participant’s participation in the Plan. No Participating Entity shall be held responsible for any tax consequences to a Participant as a result of the Participant’s participation in the Plan. For the
avoidance of doubt, the Plan is not intended to qualify as an “employee stock purchase plan” within the meaning of Section 1.423-2(a) of the Treasury Regulations. 

  
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	 	26.15	Severability. If any provision of the Plan shall for any reason be held to be invalid or unenforceable, such invalidity or unenforceability shall not affect any other provision hereof, and the Plan shall be
construed as if such invalid or unenforceable provision were omitted. 

 * * * 

  
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