Document:

EX-4.3

 Exhibit 4.3 

2022 NON-QUALIFIED MANAGEMENT SHARE OPTION PLAN 

Brookfield Asset Management Ltd. 

December 9, 2022 

 TABLE OF CONTENTS 

 
  

 2022 NON-QUALIFIED
MANAGEMENT SHARE OPTION PLAN 
 SECTION 1. GENERAL PROVISIONS 

 

	1.1	 Purpose 

The purpose of the 2022 Non-Qualified Management Share Option Plan (the “Plan”) of Brookfield
Asset Management Ltd. and its successors or assigns (herein called the “Manager”) is to advance the interests of the Manager by (i) providing Eligible Persons (defined below) with additional incentive; (ii) encouraging stock
ownership by Eligible Persons; (iii) increasing the proprietary interest of Eligible Persons in the success of the Manager; (iv) encouraging Eligible Persons to remain with the Brookfield Group; and (v) attracting new employees and
officers. 
  

	1.2	 Administration 

 

	 	(a)	 The Plan shall be administered by the Board of Directors of the Manager (the “Board”).

  

	 	(b)	 Subject to the limitations of the Plan, the Board shall have the authority (i) to grant Options to
Eligible Persons; (ii) to determine the terms, limitations, restrictions and conditions upon such grants, including vesting, exercise and hold periods; (iii) to determine whether an Eligible Person will receive a benefit under, or in
respect of, an Option even if the Option has Vested and been exercised; (iv) to interpret the Plan and to adopt, amend and rescind such administrative guidelines and other rules and regulations relating to the Plan as it shall from time to time
deem advisable; and (v) to make all other determinations and to take all other actions in connection with the implementation and administration of the Plan as it may deem necessary or advisable. The Board’s guidelines, rules, regulations,
interpretations and determinations shall be conclusive and binding upon the Manager and all other persons. 

  

	1.3	 Interpretation 

For the purposes of this Plan, the following terms have the following meanings: 

 

	 	(a)	 “Affiliate” of a person means any entity which is an “affiliate” of the person for the
purposes of National Instrument 45-106 — Prospectus Exemptions, as amended from time to time, or any related body corporate, and with respect to the Manager, includes the Asset Management Company,
its subsidiaries and any entity with outstanding securities that are exchangeable into Class A Shares. 

  

	 	(b)	 “Asset Management Company” means Brookfield Asset Management ULC and its successors or assigns.

  

	 	(c)	 “Australian Participant” means each Participant who is resident in Australia at the time of grant of
an Option, provided that the Board may deem any Participant to be an Australian Participant or may provide that a Participant who is resident in Australia at the time of grant of an Option is not an Australian Participant. 

	 	(d)	 “Blackout Period” means the period imposed by the Manager, during which specified individuals,
including Insiders of the Manager, may not trade in the Manager’s securities (including, for greater certainty, where specific individuals are restricted from trading because they have material non-public
information), but does not include any period when a regulator has halted trading in the Manager’s securities. 

  

	 	(e)	 “Board” has the meaning set out in Section . 

 

	 	(f)	 “Brazilian Participant” means each Participant who is subject to taxation in Brazil in respect of
Options. 

  

	 	(g)	 “Brookfield” means Brookfield Corporation and its successors or assigns. 

 

	 	(h)	 “Brookfield Group” means the Manager, Brookfield and their respective Affiliates.

  

	 	(i)	 “Cause” means 

 

	 	(i)	 A Participant’s willful failure or refusal to perform his or her employment duties after being given
notice and a reasonable opportunity to remedy such failure or refusal; 

  

	 	(ii)	 A Participant’s gross misconduct in connection with the Participant’s employment;

  

	 	(iii)	 A Participant’s act of dishonesty or breach of trust in connection with the Participant’s employment;

  

	 	(iv)	 A Participant’s conviction of, or a plea of guilty or no contest to, any indictable criminal offence or
any other criminal offence involving fraud, dishonesty or misappropriation; 

  

	 	(v)	 A Participant’s conduct which is likely to injure the reputation or business of the Brookfield Group,
including, without limitation, any breach of the Code of Conduct of any member of the Brookfield Group or the willful violation by the Participant of any of the Brookfield Group’s policies; 

 

	 	(vi)	 A Participant’s breach of confidentiality, non-solicitation or non-competition obligations; or 

  

	 	(vii)	 Any other conduct of a Participant which would be treated as cause under the laws of the jurisdiction in which
the termination occurs. 

  

	 	(j)	 “Class A Shares” means the Class A Limited Voting Shares of the Manager.

  

	 	(k)	 “Code” means the U.S. Internal Revenue Code. 

 

	 	(l)	 “Consultant” has the meaning given to such term in National Instrument
45-106 — Prospectus Exemptions, as amended from time to time. 

	 	(m)	 “Eligible Persons” means (i) officers, employees or Consultants of the Manager;
(ii) officers, employees or Consultants of any Affiliate of the Manager; or (iii) any other persons (other than a non-employee director of the Manager) so designated by the Board, subject to
applicable laws and regulations. 

  

	 	(n)	 “Exercise Price” has the meaning set out in Section . 

 

	 	(o)	 “Expiry Period” has the meaning set out in Section . 

 

	 	(p)	 “Fair Market Value” means, for any Option or Class A Share, the closing price of a Class A
Share on the NYSE immediately preceding the notice of exercise. For clarity, if the notice of exercise is received on a trading day before the NYSE closes, the prior trading day’s closing price will apply; if the notice of exercise is received
after the NYSE closes on a trading day, that day’s closing price will apply. 

  

	 	(q)	 “Hold Period” has the meaning set out in Section . 

 

	 	(r)	 “Insider” has the meaning given to such term in the Toronto Stock Exchange Company Manual in respect
of the rules governing Security-Based Compensation Arrangements, as amended from time to time. 

  

	 	(s)	 “Manager” has the meaning set out in Section . 

 

	 	(t)	 “NYSE” means the New York Stock Exchange or successor thereto. 

 

	 	(u)	 “Option” means a right to acquire a number of Class A Shares having a Fair Market Value equal to
(i) the Fair Market Value of a Class A Share on the date of exercise or disposition, less, (ii) the Exercise Price. 

  

	 	(v)	 “Option Agreement” has the meaning set out in Section . 

 

	 	(w)	 “Participants” means Eligible Persons to whom Options have been granted and remain outstanding.

  

	 	(x)	 “Retirement” means the resignation of a Participant who is determined by the Board, in its
discretion, to be retiring. 

  

	 	(y)	 “Security-Based Compensation Arrangement” has the meaning given to such term in the Toronto Stock
Exchange Company Manual, as amended from time to time. 

  

	 	(z)	 “Specified Maximum” has the meaning set out in Section . 

 

	 	(aa)	 “Termination Date” means: 

 

	 	(i)	 in the event a Participant’s employment is terminated by the Brookfield Group for any reason other than as
set out in (ii), (iii) (iv) or (v) below, the date and time notice of termination is delivered to the Participant; 

	 	(ii)	 in the event of a continuous leave of absence (including for disability), the earlier of (a) the date and
time notice of termination is delivered to the Participant, and (b) two years from the start of the Participant’s leave of absence; 

  

	 	(iii)	 in the event of a Participant’s resignation or Retirement, the effective date of the resignation or
Retirement, as applicable; 

  

	 	(iv)	 in the event of a Participant’s death, the date of the Participant’s death; and

  

	 	(v)	 in the case of Consultants, the date notice of termination of the consulting relationship is effective,

 in each case, (A) without regard to whether the Participant’s employment with the Brookfield Group is
terminated with or without Cause, or through actions or events constituting constructive dismissal, with or without notice or compensation in lieu of notice, and (B) does not include any period during, or in respect of, which a Participant is
receiving or is entitled to receive payments in lieu of notice (whether by way of lump sum or salary continuance), benefits continuance, severance pay, or any other termination related payments or benefits. Any such severance period or notice period
shall not be considered a period of employment for the purposes of a Participant’s rights under the Plan. 
  

	 	(bb)	 “TSX” means the Toronto Stock Exchange or any successor thereto. 

 

	 	(cc)	 “Underlying Share” means a Class A Share issuable upon the exercise of an Option.

  

	 	(dd)	 “US Participant” means each Participant who is a United States citizen or resident.

  

	 	(ee)	 “Vested” means the Vesting Period has expired and the Option is exercisable. 

 

	 	(ff)	 “Vesting Period” means any period imposed by the Board before a granted Option becomes Vested and
exercisable. 

  

	 	(gg)	 “Withholdings” means all taxes and any other source deductions or amounts which the Manager is
required by applicable law to withhold from any amounts to be paid or credited under this Plan. 

 Words importing the
singular number only shall include the plural and vice versa and words importing the masculine shall include the feminine. 
 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. 

 

	1.4	 Shares Reserved 

 

	 	(a)	 All shares of the Manager issued under the Plan shall be Class A Shares in the capital stock of the
Manager. Options may be granted in respect of authorized and unissued Class A Shares. 

	 	(b)	 The maximum number of Class A Shares (“Specified Maximum”) that may be reserved for issuance for
all purposes under the Plan shall be 12,500,000 Class A Shares. Where upon exercise of an Option, the number of Class A Shares issued to, or for the benefit of, the Participant as determined in accordance with Section of the Plan
will be deducted from the Specified Maximum. The Specified Maximum is subject to adjustment in accordance with the provisions of the Plan. 

  

	 	(c)	 The maximum number of Class A Shares that may be reserved for issuance to any one person under the Plan
shall not exceed 5% of the outstanding Class A Shares (on a non-diluted basis), less the aggregate number of Class A Shares reserved for issuance to such person under any other Security-Based
Compensation Arrangement of the Manager. 

  

	 	(d)	 The maximum number of Class A Shares that are issuable to Insiders of the Manager at any time pursuant to
the exercise of Options granted under the Plan and issuable under all other Security-Based Compensation Arrangements of the Manager shall not exceed 10% of the Manager’s issued and outstanding Class A Shares. 

 

	 	(e)	 The maximum number of Class A Shares that are issued to Insiders of the Manager within a one-year period pursuant to the exercise of Options granted under the Plan and issued under all other Security-Based Compensation Arrangements of the Manager shall not exceed 10% of the Manager’s issued and
outstanding Class A Shares. 

  

	 	(f)	 Any Class A Share which is subject to an Option which has been granted under the Plan and for any reason
is cancelled or terminated without having been exercised shall again be available for grant under the Plan. No fractional shares shall be issued, and the Board may determine the manner in which fractional share value shall be treated.

  

	 	(g)	 In the event of any change in the outstanding Class A Shares by reason of any stock dividend or split,
recapitalization, merger, consolidation, combination or exchange of shares, or other corporate change, the Board shall make, subject to applicable law and the prior approval of the relevant stock exchanges, appropriate substitution or adjustment in
(i) the number or kind of shares or other securities reserved for issuance pursuant to the Plan; (ii) the number and kind of shares subject to unexercised Options theretofore granted; and (iii) the Exercise Price of such Options;
provided, however, that no substitution or adjustment shall obligate the Manager to issue or sell fractional shares. 

  

	 	(h)	 In the event of the reorganization of the Manager or the amalgamation, merger or consolidation of the Manager
with another corporation, or the payment of a special or extraordinary dividend, the Board shall, subject to applicable law, make such provision for the protection of the rights of Participants as the Board in its discretion deems appropriate.

  

	1.5	 Non-Exclusivity 

Nothing contained herein shall prevent the Board from adopting other or additional compensation arrangements, subject to any required approval.

	1.6	 Amendment and Termination 

 

	 	(a)	 The Board may amend, suspend or terminate this Plan, any portion thereof or any Option, at any time, subject to
those provisions of applicable law (including, without limitation, the rules, regulations and policies of the TSX or the NYSE) if any, that require the approval of shareholders or any governmental or regulatory body, regardless of whether any such
amendment or suspension is material, fundamental or otherwise, and notwithstanding any rule of common law or equity to the contrary. However, except as expressly set forth herein, no action of the Board, or shareholders may adversely alter or impair
the rights of a Participant without the consent of the affected Participant under any Option previously granted to the Participant. Without limiting the generality of the foregoing, the Board may make the following types of amendments to the Plan or
any Option without seeking shareholder approval: 

  

	 	(i)	 amendments of a “housekeeping” or administrative nature including, without limiting the generality of
the foregoing, any amendment for the purpose of curing any ambiguity, error or omission in the Plan or any Option or to correct or supplement any provision of the Plan or any Option that is inconsistent with any other provision of the Plan or any
Option; 

  

	 	(ii)	 amendments necessary to comply with the provisions of applicable law (including, without limitation, the rules,
regulations and policies of the TSX and the NYSE); 

  

	 	(iii)	 amendments necessary for awards to qualify for favorable treatment under applicable tax laws;

  

	 	(iv)	 any amendment to the vesting provisions of the Plan or any Option; 

 

	 	(v)	 any amendment to the termination or early termination provisions of the Plan or any Option, whether or not such
Option is held by an Insider, provided such amendment does not entail an extension beyond the Expiry Period; 

  

	 	(vi)	 the addition or modification of a cashless exercise feature, payable in cash or Class A Shares, which
provides for a full deduction of the number of underlying Class A Shares from the Plan reserve; 

  

	 	(vii)	 amendments necessary to suspend or terminate the Plan. 

 

	 	(b)	 Shareholder approval will be required for the following types of amendments: 

 

	 	(i)	 amendments to the number of Class A Shares issuable under the Plan, including an increase to a fixed
maximum number of Class A Shares or a change from a fixed maximum number of Class A Shares to a fixed maximum percentage; 

  

	 	(ii)	 any amendment to the Plan that increases the length of the period after a Blackout Period during which Options
may be exercised; 

  

	 	(iii)	 any amendment which would result in the Exercise Price for any Option granted under the Plan being lower than
the fair market value of the Class A Shares at the time the Option is granted; 

	 	(iv)	 any amendment which reduces the Exercise Price or purchase price of an Option or any cancellation and
reissuance of an Option, in each case, other than pursuant to Section and of the Plan; 

  

	 	(v)	 any amendment expanding the categories of Eligible Person which may permit the introduction or reintroduction
of non-employee directors on a discretionary basis or any amendment to remove or exceed the Insider participation limit; 

 

	 	(vi)	 any amendment extending the term of an Option beyond its Expiry Period, except as provided in Section ;

  

	 	(vii)	 any amendment which would permit Options to be transferable or assignable other than for normal estate planning
purposes; 

  

	 	(viii)	 any amendment to the amendment provisions; and 

 

	 	(ix)	 amendments required to be approved by shareholders under applicable law (including, without limitation, the
rules, regulations and policies of the TSX). 

  

	1.7	 Compliance with Legislation 

The Board may postpone any exercise of any Option or the issue of any Underlying Shares pursuant to the Plan for such time as the Board in its
discretion may deem necessary in order to permit the Manager to effect or maintain registration of the Plan or the Class A Shares issuable pursuant thereto under the securities laws of any applicable jurisdiction, or to determine that such
shares and the Plan are exempt from such registration. The Manager shall not be obligated by any provision of the Plan or grant thereunder to sell or issue Class A Shares in violation of the law of any government or regulatory body having
jurisdiction therein. In addition, the Manager shall have no obligation to issue any Class A Shares pursuant to the Plan unless such Class A Shares shall have been duly listed, upon official notice of issuance, with a stock exchange on
which such Class A Shares are listed for trading. 
 Compensation payable under the Plan to US Participants is intended not to be
subject to U.S. federal income tax under Section 409A of the Code and the Plan shall be construed, interpreted and administered in compliance with such intent. The Board is hereby authorized to amend the Plan or any award under the Plan to
achieve such intent. 
 With respect to any Australian Participants, or Participants to which Australian legislation applies, if this Plan
provides for a payment or benefits that is greater than permitted under the Corporations Act 2001 (Cth), without the need to obtain any form of shareholder approval, then the payment or benefit will be reduced to the greatest amount permitted
without the need for such shareholder approval and there will be no need for such shareholder approval and there will be no obligation on any entity in the Brookfield Group to seek shareholder approval. 

	1.8	 Right of Service 

Neither participation in the Plan nor any action under the Plan shall be construed to give any Participant a right to be retained in the
services of the Brookfield Group. Nothing in the Plan may be construed to provide any Participant with any rights whatsoever to compensation or damages in lieu of notice or continued participation in, or entitlements under, the Plan as a consequence
of a Participant’s Termination Date (regardless of the reason for the termination and the party causing the termination, including a termination without Cause). The Participant’s common law or civil rights to the Options, the Underlying
Shares and other property hereunder during any reasonable notice period including any rights to compensation for the loss, or continued vesting, of the Options during any reasonable notice period may be limited or removed under the Plan. 

SECTION 2. OPTIONS 
  

	2.1	 Grants 

  

	 	(a)	 Subject to the provisions of the Plan, the Board shall have the authority to determine the limitations,
restrictions and conditions, if any, in addition to those set forth in Sections , and hereof, applicable to the exercise of an Option, including, without limitation, the nature and duration of the restrictions, if any, to be imposed upon the sale or
other disposition of the Underlying Shares, and the nature of the events, if any, and the duration of the period in which any Participant’s rights in respect of the Underlying Shares may be forfeited (the “Hold Period”).

  

	 	(b)	 An Eligible Person may receive Options on more than one occasion under the Plan and may receive separate
Options on any one occasion. 

  

	 	(c)	 Each grant of an Option shall be confirmed by an agreement (an “Option Agreement”) executed by the
Manager and by the Participant. 

  

	 	(d)	 The effective grant date of Option awards shall be (i) in the case of a grant of Options approved by the
Board during a Blackout Period, no earlier than the sixth trading day following the end of such Blackout Period and (ii) in the case of all other grants of Options, no earlier than the sixth trading day following the date such grant is approved
by the Board, provided in all cases, that if a subsequent Blackout Period is imposed prior to the grant date, the grant date shall be deferred until no earlier than the sixth trading day following the end of such subsequent Blackout Period.

  

	2.2	 Option Exercise Price 

 

	 	(a)	 The Board shall establish the exercise price (the “Exercise Price”) of each Option at the time such
Option is granted, which shall be awarded in US dollars and shall not be less than the volume-weighted average price of a Class A Share on the NYSE for the five trading days preceding the effective grant date, and in all cases shall not be less
than such amount required by applicable regulatory authorities from time to time. 

  

	 	(b)	 The Exercise Price shall be subject to adjustment in accordance with the provisions of Section and hereof.

  

	2.3	 Exercise of Options 

 

	 	(a)	 The Board may determine when any Option shall become Vested and exercisable (the “Vesting Period”)
and may determine that the Option shall be Vested in installments. 

	 	
Unless otherwise specified in the Option Agreement or other agreement with the Participant, Options become Vested as to 20% at the first anniversary date after the grant and as to 20% at the end
of each subsequent anniversary date up to and including the fifth anniversary date of the grant. 

  

	 	(b)	 The Board may determine the maximum period following the grant date during which a Vested Option may be
exercised (the “Expiry Period”), subject to the provision that Options shall not be exercisable later than 10 years after the date of grant, provided that, if an Option would otherwise expire during a Blackout Period or within 10 days
after the end of the Blackout Period, the term of such Option shall automatically be extended until 10 days after the end of the Blackout Period. 

  

	 	(c)	 The Board may establish the minimum Hold Periods for Class A Shares acquired pursuant to the exercise of
Options under the Plan for designated senior executives. 

  

	 	(d)	 Subject to (a), (b) and (c) above, the discretion of the Board, the applicable provisions of Section below
and Appendix A (with respect to Brazilian Participants), Vested Options may be exercised or disposed of at the election of a Participant by one of the following two methods: 

 

	 	(i)	 the disposition of Options by the Participant in exchange for an amount equal to (A) the aggregate Fair
Market Value of the Options, minus (B) the aggregate Exercise Price of the Options, minus (C) applicable Withholdings. The Manager shall satisfy the payment of such amount by issuing to the Participant such number of Class A Shares
(rounded down to the nearest whole number) with an aggregate Fair Market Value equal to the amount, provided that the Participant may direct that such Class A Shares be sold in the capital markets by Brookfield Securities Corp., or such other
securities dealer as designated by the Manager, and the proceeds received from such sale be delivered to the Participant. The transfer costs incurred to sell the Class A Shares will be deducted from the net proceeds payable to the Participant;
or 

  

	 	(ii)	 the delivery of a cheque payable to the Manager in the amount of the applicable Withholdings and the exercise
of Options by the Participant in exchange for an amount equal to (A) the aggregate Fair Market Value of the Options, minus (B) the aggregate Exercise Price of the Options. The Manager shall satisfy the payment of such amount by issuing to
the Participant such number of Class A Shares (rounded down to the nearest whole number) equal to the amount. 

  

	 	(e)	 The Manager may withhold applicable Withholdings on the payment of an amount to a Participant pursuant to
Appendix A or require a Participant, as a condition of exercise of an Option, to pay or reimburse the Manager for any applicable Withholdings in connection with the exercise of such Option. 

 

	 	(f)	 A Participant entitled to receive Underlying Shares as a result of the exercise or disposition of an Option
shall not be deemed for any purpose to be, or to have rights as, a shareholder of the Manager by such exercise of an Option, except to the extent such shares are issued therefor and then only from the date such shares are issued. No adjustment shall
be made for dividends or distributions or other rights for which the record date is prior to the date such shares are issued to a Participant pursuant to the exercise or disposition of Options. 

	 	(g)	 If, as and when any Underlying Shares have been duly issued upon the exercise or disposition of an Option and
in accordance with the terms of such Option and the Plan and any regulations made hereunder, such Underlying Shares shall be conclusively deemed allotted as fully-paid and non-assessable shares of the Manager.

  

	 	(h)	 Options granted pursuant to the Plan may be assigned by the Participant, at the Participant’s request and
subject to the Participant obtaining written acknowledgement of the assignment from the Manager, to: (i) the Participant’s spouse, descendants or any other immediate family member (child, stepchild, grandchild, parent, stepparent,
grandparent, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law,
brother-in-law or sister-in-law, including adoptive relationships); (ii) a trust, the
beneficiaries of which are one or more of the Participant and the Participant’s spouse, descendants and/or immediate family members; (iii) a corporation or limited liability company controlled by the Participant or by one or more of the
Participant and the Participant’s spouse, descendants and/or immediate family members, the shares or interests of which are held directly or indirectly by the Participant, the Participant’s spouse and/or immediate family members; or
(iv) such other transferees for estate planning purposes as may be permitted by the Board in its sole discretion. Notwithstanding a permitted assignment under the Plan, an assigned Option shall be deemed, for the purposes of administering the
Plan, to be held by the Participant to whom the Option was initially granted. 

  

	 	(i)	 Unless otherwise determined by the Board, the Manager will not provide financial assistance in respect of the
exercise or disposition of an Option. 

  

	2.4	 Change in Employment Status 

Except as otherwise determined by the Board in accordance with applicable laws and regulations, the following provisions apply to the exercise
and cancellation of Options on or following a change in the employment status of a Participant. For greater certainty, no Option shall be exercisable after its stated Expiry Period, except as set out in Section 2.3(b).  

 

	 	(a)	 In the event of termination of the employment of a Participant by a member of the Brookfield Group other than
with Cause, each of the Vested Options held by the Participant shall cease to be exercisable 60 days after the Participant’s Termination Date. Each Option held by a Participant that is Vested but not exercised by such time shall be cancelled
and no amount shall be payable to the Participant in respect thereof as compensation, damages or otherwise, including on account of severance, payment in lieu of notice or damages for wrongful dismissal. Each Option held by a Participant that is not
Vested by the Termination Date shall be cancelled on the Termination Date and no amount shall be payable to the Participant in respect thereof as compensation, damages or otherwise, including on account of severance, payment in lieu of notice or
damages for wrongful dismissal. 

  

	 	(b)	 In the event of termination of the employment of a Participant by a member of the Brookfield Group for Cause,
all Options whether Vested or not Vested by the Termination Date shall be cancelled on the Termination Date and no amount shall be payable to the Participant in respect thereof as compensation, damages or otherwise, including on account of
severance, payment in lieu of notice or damages for wrongful dismissal. 

	 	(c)	 In the event of resignation by a Participant, all Options whether Vested or not Vested by the Termination Date
shall be cancelled on the Termination Date and no amount shall be payable to the Participant in respect thereof as compensation, damages or otherwise, including on account of severance, payment in lieu of notice or damages for wrongful dismissal.

  

	 	(d)	 In the event of Retirement by a Participant, each of the Vested Options held by the Participant shall continue
to be exercisable until the end of its original Expiry Period. Each Option held by a Participant that is Vested but not exercised by such time shall be cancelled and no amount shall be payable to the Participant in respect thereof as compensation,
damages or otherwise, including on account of severance, payment in lieu of notice or damages for wrongful dismissal. Each Option held by a Participant that is not Vested by the Termination Date shall be cancelled on the Termination Date and no
amount shall be payable to the Participant in respect thereof as compensation, damages or otherwise, including on account of severance, payment in lieu of notice or damages for wrongful dismissal. 

 

	 	(e)	 In the event of a Participant being on a continuous leave of absence other than as a result of disability, all
Options whether Vested or not Vested by the Termination Date shall be cancelled on the Termination Date and no amount shall be payable to the Participant in respect thereof as compensation, damages or otherwise, including on account of severance,
payment in lieu of notice or damages for wrongful dismissal. 

  

	 	(f)	 In the event of a Participant being on an authorized continuous leave of absence as a result of disability,
each of the Vested Options held by the Participant shall cease to be exercisable 60 days after the Participant’s Termination Date. Each Option held by a Participant that is Vested but not exercised by such time shall be cancelled and no amount
shall be payable to the Participant in respect thereof as compensation, damages or otherwise, including on account of severance, payment in lieu of notice or damages for wrongful dismissal. Each Option held by a Participant that is not Vested by the
Termination Date shall be cancelled on the Termination Date and no amount shall be payable to the Participant in respect thereof as compensation, damages or otherwise, including on account of severance, payment in lieu of notice or damages for
wrongful dismissal. 

  

	 	(g)	 In the event of the death of a Participant, the legal representatives of such Participant may exercise each of
the Vested Options held by such Participant for six months after the Participant’s Termination Date to the extent such Options are by their terms Vested and exercisable by the Termination Date or become so within a period of six months
following the Participant’s death. Each Option held by a Participant that is Vested but not exercised by the legal representatives of such Participant by such time shall be cancelled and no amount shall be payable to the legal representatives
of such Participant in respect thereof as compensation, damages or otherwise, including on account of severance, payment in lieu of notice or damages for wrongful dismissal. 

	 	(h)	 In the case of a Consultant ceasing to be a Consultant, all Options whether Vested or not Vested by the
Termination Date shall be cancelled on the Termination Date. 

  

	 	(i)	 If an Option would otherwise cease to be exercisable during a Blackout Period pursuant to Section (a), (c),
(d), (e), (f) or (g), the term of such Option shall automatically be extended until 10 days after the end of the Blackout Period. 

SECTION 3. EFFECTIVE DATE 
  

	3.1	 Approval 

The Plan shall be effective as of December 9, 2022. 

 Appendix A 

Brazilian Participants 

The provisions of this Appendix A apply to Options held by a Brazilian Participant. All capitalized terms used in this Appendix A have the
meanings attributed to them in the Plan. This Appendix A shall have no other effect on any other terms and provisions of the Plan except as set forth below. 

Section of the Plan is deleted in its entirety and replaced with the following: 

“Subject to Section 2.3(a), (b) and (c) above, the discretion of the Board and the applicable provisions of Section 2.4
below, Vested Options may be exercised by a Participant in exchange for the receipt of an amount equal to (A) the aggregate Fair Market Value of the Options, minus (B) the aggregate Exercise Price of the Options, minus (C) applicable
Withholdings. The Manager shall satisfy the payment of such amount by issuing to the Participant such number of Class A Shares (rounded down to the nearest whole number) with an aggregate Fair Market Value equal to the amount, provided that the
Participant may direct that such Class A Shares be sold in the capital markets by Brookfield Securities Corp., or such other securities dealer as designated by the Manager, and the proceeds received from such sale be delivered to the
Participant. The transfer costs incurred to sell the Class A Shares will be deducted from the net proceeds payable to the Participant.”EX-4.4

 Exhibit 4.4 

ESCROWED STOCK PLAN 

Brookfield Asset Management Ltd. 

December 9, 2022 

 BROOKFIELD ASSET MANAGEMENT LTD. 

ESCROWED STOCK PLAN 

SECTION 1 
 GENERAL
PROVISIONS 
  

	1.1	 Purposes 

The purpose of the Plan is to award designated executives with compensation that provides the opportunity to earn investment returns tied to the performance of
Class A Limited Voting Shares of Brookfield Asset Management Ltd. and aligns their long-term interests with those of Manager’s shareholders. 
  

	1.2	 Definitions 

The following terms, when used in the Plan, shall have the respective meanings set forth below: 

 

	 	(a)	 “2022 Arrangement Escrowed Shares” means Escrowed Shares issued pursuant to the 2022 Plan of
Arrangement. 

  

	 	(b)	 “2022 Plan of Arrangement” means the plan of arrangement of Brookfield in connection with the
arrangement agreement dated September 23, 2022 between Brookfield, the Manager, the Asset Management Company and 2451634 Alberta Inc. under Section 182 of the Business Corporations Act (Ontario), as it may be amended, modified or
supplemented from time to time in accordance with its terms. 

  

	 	(c)	 “Affiliate” of a person means any entity which is an “affiliate” of the person for
the purposes of National Instrument 45-106 - Prospectus Exemptions, as amended from time to time, and with respect to Manager, includes the Asset Management Company, its subsidiaries and any entity with
outstanding securities that are exchangeable into Manager Shares. 

  

	 	(d)	 “Amalco” means the amalgamated company after an Amalgamation. 

 

	 	(e)	 “Amalgamation” means an amalgamation between a Company and a subsidiary of Manager (and, in
the case of an Indirect Purchase Structure, a Subco) as a result of which, among other things, each issued and outstanding Escrowed Share (other than those acquired by Manager) will be exchanged for a number of Manager Shares equal to the Exchange
Amount and cash will be paid in lieu of any fractional Manager Shares. 

  

	 	(f)	 “Arrangement Participant” has the meaning given to that term in section .

  

	 	(g)	 “Asset Management Company” means Brookfield Asset Management ULC and its successors or
assigns. 

  

	 	(h)	 “Blackout Period” means the period imposed by Manager during which specified individuals,
including insiders of Manager, may not trade in Manager’s securities, (including, for greater certainty, when specific individuals are restricted from trading because they have material non-public
information), but does not include any period when a regulator has halted trading in Manager’s securities. 

	 	(i)	 “Board” means the board of directors of Manager. 

 

	 	(j)	 “Brazil Sub-Plan” means the sub-plan to this Plan, the terms of which shall apply to Escrowed Shares offered to Participants in Brazil. 

  

	 	(k)	 “Brookfield” means the corporation existing under the Business Corporations Act
(Ontario) that, prior to the Effective Date, was named “Brookfield Asset Management Inc.” and that, pursuant to the 2022 Plan of Arrangement on the Effective Date, was renamed “Brookfield Corporation”, and includes any successor
corporation thereof. 

  

	 	(l)	 “Brookfield Group” means Manager, Brookfield and their respective Affiliates.

  

	 	(m)	 “Call” has the meaning given to that term in section . 

 

	 	(n)	 “Call Notice” has the meaning given to that term in section . 

 

	 	(o)	 “Cause” means: 

 

	 	(i)	 a Participant’s willful failure or refusal to perform his or her employment duties after being given
notice and a reasonable opportunity to remedy such failure or refusal; 

  

	 	(ii)	 a Participant’s gross misconduct in connection with the Participant’s employment;

  

	 	(iii)	 a Participant’s act of dishonesty or breach of trust in connection with the Participant’s employment;

  

	 	(iv)	 a Participant’s conviction of, or a plea of guilty or no contest to, any indictable criminal offence or
any other criminal offense involving fraud, dishonesty or misappropriation; 

  

	 	(v)	 a Participant’s breach of confidentiality, non-solicitation or non-competition obligations; 

  

	 	(vi)	 a Participant’s conduct which is likely to injure the reputation or business of the Brookfield Group,
including, without limitation, any breach of the Code of Conduct of any member of the Brookfield Group or the willful violation by the Participant of any of Brookfield Group’s policies; or 

 

	 	(vii)	 any other conduct of a Participant which would be treated as cause under the laws of the jurisdiction in which
the termination occurs. 

	 	(p)	 “Code” means the Internal Revenue Code of 1986, as amended. 

 

	 	(q)	 “Common Share” means a non-voting common share in the
capital of a Company. 

  

	 	(r)	 “Company” means any corporation created to facilitate participation in the Plan and any of
their respective successors. 

  

	 	(s)	 “Direct Purchase Structure” has the meaning given to that term in section .

  

	 	(t)	 “Effective Date” has the meaning given to that term in section . 

 

	 	(u)	 “Electing Shareholders” has the meaning given to that term in section . 

 

	 	(v)	 “Escrow Agent” means the person appointed by a Company to hold Unvested Shares on
behalf of Participants. 

  

	 	(w)	 “Escrowed Plans” means this Plan and the Brazil
Sub-Plan. 

  

	 	(x)	 “Escrowed Share” means a Common Share granted to a Participant pursuant to the Plan.

  

	 	(y)	 “Exchange” has the meaning given to that term in section . 

 

	 	(z)	 “Exchange Amount” means: 

 

	 	(i)	 following the delivery of an Exchange Notice, the Net Asset Value per Share divided by the Fair Market Value
for a Manager Share, each as calculated on the date of delivery of the Exchange Notice; and 

  

	 	(ii)	 in the case of an Amalgamation that does not follow the delivery of an Exchange Notice, (i) the Net Asset
Value per Share divided by the Fair Market Value for a Manager Share, each as calculated on the Settlement Date or (ii) if the Settlement Date is during a Blackout Period, the Net Asset Value per Share divided by the Fair Market Value of a
Manager Share, each as calculated for the period of five trading days following the end of such Blackout Period. 

  

	 	(aa)	 “Exchange Notice” has the meaning given to that term in section . 

 

	 	(bb)	 “Fair Market Value” means the volume weighted average price of a Manager Share as reported on
the NYSE on the applicable date(s) (or if the NYSE is not open on such date, the immediately following date on which the NYSE is open). If the applicable date is during a Blackout Period, the Fair Market Value shall be calculated for the period of
five trading days following the end of such Blackout Period. For purposes of determining the Fair Market Value on the Grant Date, unless otherwise determined by the Board, the Fair Market Value shall be calculated for the period of five trading days
immediately preceding such Grant Date. 

	 	(cc)	 “Forfeited Shares” has the meaning given to that term in section . 

 

	 	(dd)	 “Forward Agreement” means one or more forward share purchase agreements providing for the
purchase of Manager Shares or securities exchangeable into Manager Shares at a date in the future. 

  

	 	(ee)	 “Grant Agreement” has the meaning given to that term in section . 

 

	 	(ff)	 “Grant Date” means the date of grant of awards under this Plan, which shall be, unless
otherwise determined by the Board (i) in the case of a grant of awards approved by the Board during a Blackout Period, the sixth trading day following the end of such Blackout Period and (ii) in the case of all other grants of awards, the
sixth trading day following the date such awards are approved by the Board, provided, in each case, that if a subsequent Blackout Period is imposed prior to the Grant Date, the Grant Date shall be deferred until the sixth trading day following the
end of such subsequent Blackout Period. 

  

	 	(gg)	 “Indirect Purchase Structure” means a grant of Escrowed Shares under the Plan issued by
a Company that has: (i) entered into a Forward Agreement with a Subco to purchase Manager Shares or securities exchangeable into Manager Shares at a date set in the future or (ii) acquired interests in a Subco that holds (or is entitled to
acquire) Manager Shares or securities exchangeable into Manager Shares either in addition to or as an alternative to acquiring Manager Shares directly. 

  

	 	(hh)	 “Management Shareholder” means an individual who is a shareholder of a Company.

  

	 	(ii)	 “Manager” means Brookfield Asset Management Ltd. and its successors and assigns.

  

	 	(jj)	 “Manager Group” means Manager and its Affiliates. 

 

	 	(kk)	 “Manager Share” means a Class A Limited Voting Share of Manager. 

 

	 	(ll)	 “Net Asset Value per Share” on any particular day is defined as the value of the Manager
Shares and securities exchangeable into Manager Shares held by the Company plus (minus) the amount by which the value of the other assets of the Company exceed (are less than) the liabilities (including any extraordinary liabilities) of the Company
as at the relevant date, all as determined by the board of directors of the Company, divided by the total number of Common Shares outstanding. For greater certainty, (i) any shares of Subco owned by the Company will be valued based on their net
asset value, calculated in the same manner as the Net Asset Value per Share, (ii) any preferred shares of the Company or the Subco (as the case may be) will be treated as liabilities for purposes of determining Net Asset Value per Share and
will be valued based on the redemption price plus any accrued and unpaid dividends, (iii) Manager Shares and securities exchangeable into Manager Shares will be valued at the Fair Market Value on such day (or for such other period contemplated
in this Agreement), and (iv) any Forward Agreement will have a value equal to the value of the Manager Shares to be acquired under such agreement minus the purchase price for such shares; if such amount is greater than zero the Forward
Agreement will be treated as an asset, if less than zero, it will be treated as a liability. 

	 	(mm)	 “NYSE” means the New York Stock Exchange, or successor thereto. 

 

	 	(nn)	 “Participant” means a person eligible to participate in the Plan pursuant to section .

  

	 	(oo)	 “Plan” means the Escrowed Stock Plan of Manager as set forth herein. 

 

	 	(pp)	 “Retirement” means the resignation of employment with a member of the Brookfield Group in
circumstances determined by the Board, in its absolute discretion, to be retirement. 

  

	 	(qq)	 “Section 83(b) Election” has the meaning given to that term in section .

  

	 	(rr)	 “Security-Based Compensation Arrangement” has the meaning given to that term in the TSX
Company Manual. 

  

	 	(ss)	 “Settlement Date” for a grant under this Plan means, unless otherwise determined by the Board,
the tenth anniversary of the Grant Date. 

  

	 	(tt)	 “Specified Maximum” has the meaning given to that term in section . 

 

	 	(uu)	 “Subco” means any corporation created to facilitate the use of the Indirect Purchase Structure
by holding Manager Shares or securities exchangeable into Manager Shares or by being entitled to acquire Manager Shares. 

  

	 	(vv)	 “Termination Date” means, unless otherwise determined by the Board: 

 

	 	(i)	 if the Participant’s employment is terminated by the Brookfield Group for any reason other than as set out
in (ii), (iii) or (iv) below, the date and time notice of termination is delivered to the Participant; 

  

	 	(ii)	 if the Participant resigns or has a Retirement, the effective date of the resignation or Retirement, as
applicable; 

  

	 	(iii)	 if a Participant dies, the date of the Participant’s death; and 

 

	 	(iv)	 if a Participant is on a continuous leave of absence, including for disability, the earlier of (a) the
date and time notice of termination is delivered to the Participant, and (b) two years from the start of the Participant’s leave of absence, 

 in each case, (A) without regard to whether the Participant’s employment with the
Brookfield Group is terminated with or without Cause, or through actions or events constituting constructive dismissal, with or without notice or compensation in lieu of notice, and (B) does not include any period during, or in respect of,
which a Participant is receiving or is entitled to receive payments in lieu of notice (whether by way of lump sum or salary continuance), benefits continuance, severance pay, or any other termination related payments or benefits. Any such severance
period or notice period shall not be considered a period of employment for the purposes of a Participant’s rights under the Plan. 
  

	 	(ww)	 “Terminated Participant” has the meaning given to that term in section .

  

	 	(xx)	 “Unanimous Shareholders’ Agreement” means the unanimous shareholders’ agreement for
each Company among Manager, the Management Shareholders of such Company and such Company. 

  

	 	(yy)	 “Unvested Shares” means Escrowed Shares that have not Vested pursuant to section .

  

	 	(zz)	 “U.S. Participant” means a Participant who is a citizen of the United States or a resident
alien within the meaning of Section 7701(b)(1)(A) of the Code. 

  

	 	(aaa)	 “Vest” or “Vested” means required to be released to the Participant by the
Escrow Agent from escrow. 

 Words importing the singular number only shall include the plural and vice versa and words
importing the masculine shall include the feminine. 
  

	1.3	 Shares Reserved 

 

	 	(a)	 The only securities of Manager issued or issuable under the Plan shall be Manager Shares.

  

	 	(b)	 Management has fixed 11,000,000 Manager Shares as the maximum number of shares that may be issued in aggregate
under the Escrowed Plans (the “Specified Maximum”). The number of Manager Shares issued pursuant to section (Concurrent Exchange) or section (Mandatory Exchange) will not be deducted from the Specified Maximum and will continue to
be available for issuance under the Escrowed Plans. In connection with an Exchange pursuant to section (Optional Exchange), the number of Manager Shares to be deducted from the Specified Maximum shall equal the number of new Manager Shares issued in
connection with the Exchange. Following the Amalgamation of any Company or the exchange of all Escrowed Shares of such Company held by Management Shareholders, the number of Manager Shares that have been previously issued by such Company to
Management Shareholders pursuant to Section of the Plan and section 2.7(a) of the Brazil Sub-Plan shall be added back to the Specified Maximum and will be available for subsequent issuance under the Escrowed
Plans. The Specified Maximum is subject to adjustment in accordance with the provisions of the Escrowed Plans. 

	 	(c)	 The maximum number of Manager Shares that are issuable to any one person at any time pursuant to the Plan and
all other Security-Based Compensation Arrangements of Manager shall not exceed 5% of the issued and outstanding Manager Shares. 

  

	 	(d)	 The maximum number of Manager Shares that are issuable to insiders of Manager at any time pursuant to the Plan
and all other Security-Based Compensation Arrangements of Manager shall not exceed 10% of the issued and outstanding Manager Shares. 

  

	 	(e)	 The maximum number of Manager Shares that are issued to insiders of Manager within a one-year period pursuant to the Plan and all other Security-Based Compensation Arrangements of Manager shall not exceed 10% of the issued and outstanding Manager Shares. 

 

	 	(f)	 In the event of any change in the outstanding Manager Shares by reason of any stock dividend or split,
recapitalization, merger, consolidation, combination or exchange of shares, or other corporate change, the Board shall make, subject to the prior approval of the relevant stock exchanges, if required, appropriate substitution or adjustment in the
number or kind of shares or other securities reserved for issuance pursuant to the Plan, however, no substitution or adjustment shall obligate Manager to issue or sell fractional shares. 

 

	 	(g)	 In the event of the reorganization of Manager or the amalgamation, merger or consolidation of Manager with
another corporation, or the payment of a special or extraordinary dividend, the Board shall make such provision for the protection of the rights of Participants as the Board in its discretion deems appropriate. 

 

	1.4	 Non-Exclusivity 

Nothing contained herein shall prevent the Board from adopting other or additional compensation arrangements, subject to any required approval. 

 

	1.5	 Amendment and Termination 

 

	 	(a)	 The Board may amend, suspend or terminate this Plan, or any portion thereof, at any time, subject to those
provisions of applicable law (including, without limitation, applicable stock exchange rules, regulations and policies), if any, that require the approval of shareholders or any governmental or regulatory body. However, except as expressly set forth
herein, no action of the Board, or shareholders may adversely alter or impair the rights of a Participant without the consent of the affected Participant with respect to any Escrowed Shares previously granted to the Participant. Without limiting the
generality of the foregoing, the Board may make the following types of amendments to the Plan without seeking shareholder approval, including but not limited to: 

 

	 	(i)	 amendments of a “housekeeping” or administrative nature including, without limiting the generality of
the foregoing, any amendment for the purpose of curing any ambiguity, error or omission in the Plan or to correct or supplement any provision of the Plan that is inconsistent with any other provision of the Plan; 

	 	(ii)	 amendments necessary to comply with the provisions of applicable law (including, without limitation, applicable
stock exchange rules, regulations and policies); 

  

	 	(iii)	 amendments necessary for awards to qualify for favorable treatment under applicable tax laws;

  

	 	(iv)	 any amendment to the vesting provisions of the Plan; 

 

	 	(v)	 any amendment to the termination or early termination provisions of the Plan, provided such amendment does not
entail an extension beyond the Settlement Date; and 

  

	 	(vi)	 amendments necessary to suspend or terminate the Plan. 

 

	 	(b)	 Shareholder approval will be required for the following types of amendments: 

 

	 	(i)	 amendments to the number of Manager Shares issuable under the Plan, including an increase to the Specified
Maximum or a change from the Specified Maximum to a fixed maximum percentage; 

  

	 	(ii)	 any amendment expanding the categories of eligibility under the Plan which would have the potential of
broadening or increasing insider participation; 

  

	 	(iii)	 any amendment to this section ; or 

 

	 	(iv)	 amendments required to be approved by shareholders under applicable law (including, without limitation,
applicable stock exchange rules, regulations and policies). 

  

	1.6	 Administration 

 

	 	(a)	 The Plan shall be administered by the Board with the Manager Group being responsible for all costs relating to
the administration of the Plan. 

  

	 	(b)	 The Board is authorized, subject to the provisions of the Plan, to establish such rules and regulations as it
deems necessary for the proper administration of the Plan and to make determinations and take such other action in connection with or in relation to the Plan as it deems necessary or advisable. Each determination or action made or taken pursuant to
the Plan, including interpretation of the Plan, shall be final and conclusive for all purposes and binding upon all parties. 

	1.7	 Incorporation and Termination of Companies 

Grants of Escrowed Shares under this Plan can be made by Manager incorporating one or more Companies for such purpose and the Manager Group funding each
Company to the extent necessary to acquire Manager Shares (or securities exchangeable into Manager Shares) underlying each grant of Escrowed Shares (the “Direct Purchase Structure”). 

Grants of Escrowed Shares under this Plan can also be made pursuant to the Indirect Purchase Structure whereby Manager will incorporate one or more Companies
and Subcos for such purpose and the Manager Group will fund each Company and Subco to the extent necessary to acquire the Manager Shares (or securities exchangeable into Manager Shares) underlying each grant of Escrowed Shares. 

Immediately following the Amalgamation of any Company or the exchange of all Escrowed Shares of such Company held by Management Shareholders, Manager will
cause, as applicable, Amalco, the Company and/or Subco to be wound up or merged into Manager and no less than the number of Manager Shares held by one or more Companies, Amalcos and/or Subcos, as applicable, that equals the number of Manager Shares
issued by such Company to Management Shareholders (i) pursuant to the Amalgamation or Exchange, as applicable, and (ii) pursuant to Section of the Plan and section 2.7(a) of the Brazil Sub-Plan at
any time prior to such Amalgamation or Exchange, to be cancelled. 
 SECTION 2 

AWARDS OF ESCROWED SHARES 
  

	2.1	 Eligibility 

  

	 	(a)	 Any executive of the Manager Group designated by the Board, or any other person designated by the Board, is
eligible to participate in the Plan. 

  

	 	(b)	 Escrowed Shares are granted under this Plan as additional discretionary compensation. 

 

	2.2	 Grant of Escrowed Shares 

 

	 	(a)	 Escrowed Shares will be granted pursuant to section above. 

 

	 	(b)	 The number of Escrowed Shares to be granted to each Participant will be determined at the discretion of the
Board. 

  

	 	(c)	 As soon as practicable after determining the number of Escrowed Shares and any terms and conditions of the
Escrowed Shares to be granted to a Participant, (i) the Board shall cause an agreement in writing to be given to the Participant advising the Participant as to the number of Escrowed Shares and any terms and conditions pertaining to the
Escrowed Shares granted to the Participant under the Plan or as determined by the Board from time to time in such form as may be approved by the Board from time to time (the “Grant Agreement”) and (ii) Manager shall transfer to
the Participant the Escrowed Shares. A grant of Escrowed Shares is conditional on the Participant signing the Grant Agreement and the applicable Unanimous Shareholders’ Agreement. 

	2.3	 Transfer of Escrowed Shares 

Except for transfers to Manager or as expressly provided by section or the provisions of a Unanimous Shareholders’ Agreement, a Management Shareholder
shall not sell, transfer, assign, mortgage, pledge or otherwise dispose of or cease to be the beneficial holder of any Escrowed Shares. Certificates for Escrowed Shares shall be endorsed with reference to the restrictions on transfer of such
Escrowed Shares and other provisions contained in the Unanimous Shareholders’ Agreement, as amended or superseded from time to time. 
  

	2.4	 Vesting of Escrowed Shares 

Unless otherwise determined by the Board, Escrowed Shares will become Vested as to 20% at the first anniversary of the applicable Grant Date and as to 20% on
each subsequent anniversary of the applicable Grant Date up to and including the fifth anniversary of the applicable Grant Date. Unvested Shares shall be held by an Escrow Agent for the benefit of the Participants. The Participants shall be entitled
to exercise any voting rights associated with the Escrowed Shares, including the Unvested Shares. The Unvested Shares held by the Escrow Agent for the benefit of a Participant shall be released to the Participant on the date such Escrowed Shares
Vest, provided that, a Termination Date has not occurred in respect of the Participant on or prior to such date. 
  

	2.5	 Change in Employment Status 

Unless otherwise determined by the Board, the following provisions apply to the ownership of Escrowed Shares by a Participant (including any permitted
transferee) if a Termination Date has occurred in respect of the Participant (including such permitted transferee, a “Terminated Participant”): 
  

	 	(a)	 In the event of a termination for Cause, all of the Escrowed Shares of a Terminated Participant (including the
Vested Escrowed Shares) will be subject to purchase pursuant to section . 

  

	 	(b)	 In the event of a termination other than for Cause (including resignation, Retirement, death and disability),
the Unvested Shares of a Terminated Participant on the Termination Date will be subject to purchase pursuant to section . 

 Escrowed
Shares subject to purchase pursuant to section are referred to as “Forfeited Shares”. Any Escrowed Shares that are not Forfeited Shares and are held by a Terminated Participant will continue to be owned by the Terminated Participant
and will be eligible to be purchased or exchanged for Manager Shares pursuant to section or in the Amalgamation. However, a Terminated Participant will not be eligible to deliver an Exchange Notice. The Board will have the right to require a
Terminated Participant to Exchange his or her Escrowed Shares that are not Forfeited Shares or the right to Call a Terminated Participant’s Escrowed Shares that are not Forfeited Shares within 60 days of the applicable Termination Date pursuant
to section. 

	2.6	 Repurchase on Termination 

Where a Termination Date has occurred in respect of a Participant, Manager shall have the right to purchase all (but not less than all) of the Forfeited Shares
held by the Terminated Participant. Purchases shall be made for a price of $0.0001 per Forfeited Share, and no further amount shall be payable to the Participant in respect thereof as compensation, damages or otherwise, including on account of
severance, payment in lieu of notice or damages for wrongful dismissal. Any purchase and sale of Forfeited Shares under the Plan shall be made for cash within 60 days after the applicable Termination Date. 

 

	2.7	 Right of Exchange or Call 

 

	 	(a)	 Optional Exchange. In the case of Escrowed Shares granted by any particular Company, unless otherwise
determined by the Board, at any time after the fifth anniversary of the applicable Grant Date (or, in the case of U.S. Participants, at any time after the first anniversary of the applicable Grant Date), any Management Shareholders (other than
Terminated Participants) (the “Electing Shareholders”) shall be entitled to elect that Manager acquire all or a portion of the Vested Escrowed Shares the Electing Shareholders hold in exchange for Manager Shares (the
“Exchange”) by giving written notice of such election (“Exchange Notice”). Manager shall issue to the Electing Shareholders (either pursuant to an Amalgamation or otherwise) a number of Manager Shares equal to the
number of Escrowed Shares being Exchanged multiplied by the Exchange Amount. Cash will be paid in lieu of fractional Manager Shares based on the Fair Market Value of a Manager Share as calculated for purposes of the Exchange Amount. If requested by
an Electing Shareholder, Manager will jointly execute and file elections in prescribed form within the prescribed time under section 85 of the Income Tax Act (Canada) and the corresponding provisions of applicable provincial income tax
statutes in respect of the transfer hereunder of the Escrowed Shares with the elected amount specified by such Electing Shareholder. 

  

	 	(b)	 Concurrent Exchange. If all Management Shareholders of a Company elect an Exchange, then, immediately
following the Exchange (either pursuant to an Amalgamation or otherwise), Manager will cause the Company, Amalco and/or Subco, as applicable, to be wound up or merged into Manager and no less than the number of Manager Shares held by one or more
Companies, Amalcos and/or Subcos, as applicable, that equals the number of Manager Shares issued by such Company to Management Shareholders (i) pursuant to the Exchange under this Section and section 2.7(b) of the Brazil Sub-Plan, and (ii) pursuant to Section and section 2.7(a) of the Brazil Sub-Plan at any time prior to such Exchange, to be cancelled forthwith. 

	 	(c)	 Mandatory Exchange or Call. 

 

	 	(i)	 Each Escrowed Share held by Management Shareholders which has not been subject to Exchange prior to the
Settlement Date will be exchanged for Manager Shares on the Settlement Date (the “Call”) (either pursuant to an Amalgamation or otherwise). The number of Manager Shares to be transferred to the Management Shareholder shall be equal
to the number of Escrowed Shares subject to the Call multiplied by the Exchange Amount, and cash will be paid in lieu of any fractional Manager Share based on the Fair Market Value of a Manager Share as calculated on the Settlement Date. Such
transfer of Manager Shares shall be made within 5 days of the applicable Settlement Date (or, if the Settlement Date is during a Blackout Period, within 10 days after the end of the Blackout Period). 

 

	 	(ii)	 Where a Participant has been terminated other than for Cause, Manager has the right to Call the
Participant’s Vested Escrowed Shares to be exchanged for Manager Shares by giving written notice of such election (the “Call Notice”) within 60 days of the Termination Date. The number of Manager Shares to be transferred to the
Participant shall be equal to the number of Vested Escrowed Shares subject to the Call multiplied by the Exchange Amount, and cash will be paid in lieu of fractional Manager Shares (which shall, in any event, be determined based on the Fair Market
Value of Manager Shares on the applicable Termination Date). Such transfer of Manager Shares shall be made within 10 days of the Call Notice (or if the Call Notice is delivered during a Blackout Period, within 10 days after the end of the Blackout
Period). Where the applicable Termination Date (other than for a U.S. Participant) is earlier than the fifth anniversary of the applicable Grant Date, the Manager Shares issued by Manager through the Exchange will be held in escrow by the Escrow
Agent until the fifth anniversary of the applicable Grant Date. 

 SECTION 3 

OTHER PROVISIONS 
  

	3.1	 2022 Arrangement Escrowed Shares 

Notwithstanding anything contained herein to the contrary, each Participant that is an officer, director or employee of Brookfield or its Affiliates who holds
2022 Arrangement Escrowed Shares (each an “Arrangement Participant”) shall, for so long as such Arrangement Participant remains an officer, director or employee of Brookfield or its Affiliates and has not experienced a Termination
Date, be permitted to hold and exchange his or her 2022 Arrangement Escrowed Shares in accordance with their terms as though such Arrangement Participant is an officer or employee, as applicable, of Manager or its Affiliates. 

 

	3.2	 No Right to Service 

Neither participation in the Plan nor any action under the Plan shall be construed to give any Participant a right to be retained in the service of the
Brookfield Group. Nothing in the Plan may be construed to provide any Participant with any rights whatsoever to compensation or damages in lieu of notice or continued participation in, or entitlements under, the Plan as a consequence of a
Participant’s Termination Date (regardless of the reason for the termination and the party causing the termination, including a termination without Cause). The Participant’s common law or civil rights to the Escrowed Shares and other
property hereunder during any reasonable notice period including any rights to compensation for the loss, or continued vesting, of the Escrowed Shares during any reasonable notice period may be limited or removed under the Plan. 

	3.3	 No Liability for Decrease in Value of Escrowed Shares and / or Manager Shares 

Manager and its Affiliates, and their directors and officers, shall not be liable to any Participant, permitted transferee or legal representative for any
decrease in the value of an Escrowed Share or any Manager Share that may occur for any reason. 
  

	3.4	 Restrictions 

Each Company and the Management Shareholders shall be bound by the Manager trading policy. In addition, no transfer, purchase or exchange of securities of a
Company (or delivery of an Exchange Notice) may be made during a Blackout Period except with the consent of the Board. 
  

	3.5	 Permitted Transfers 

At any time and from time to time, a Participant may sell or transfer all but not less than all of his or her Escrowed Shares to a trust, the beneficiaries of
which are such Participant’s family members or to a corporation or other entity provided that (i) such transferee remains at all times while it is a shareholder of the Company under the control (within the meaning of the Business
Corporations Act (British Columbia)) of such Participant or another shareholder of the Company who has agreed to be bound by the provisions of this Plan, and (ii) such transferee shall have agreed prior to such transaction to be bound by
the terms of the applicable Unanimous Shareholders’ Agreement, and not to sell, transfer, assign or convey the Escrowed Shares except in accordance with the provisions of such Agreement. In the event of a transfer under this section , the
transferring shareholder shall continue to be principally liable, jointly and severally with the transferee, to the other shareholders of the Company and the Company in respect of all of the obligations of the transferee hereunder, and shall not, as
a result of any such transfer, be released from such obligations without the prior written consent of a majority of the individual shareholders of the Company. 
  

	3.6	 Currency 

References to $ in this Plan mean United States dollars and all payments and calculations required under this Plan shall be made in United States dollars. 

 

	3.7	 Successors and Assigns 

The Plan shall be binding on all successors and assigns of Manager and each Participant, including, without limitation, the estate of such Participant and the
executor, administrator or trustee of such estate, or any receiver or trustee in bankruptcy or representative of the Participant’s creditors. 

	3.8	 Withholdings 

As a condition of the issuance of any Escrowed Shares pursuant to the Plan or in connection with any other event that gives rise to a federal, provincial,
state or local tax withholding or deduction obligation on the part of Manager relating to an award: 
  

	 	(a)	 Manager may deduct or withhold (or cause to be deducted or withheld) from any payment or distribution to the
Participant, whether or not pursuant to the Plan; 

  

	 	(b)	 Manager shall be entitled to require that the Participant remit cash to Manager; or 

 

	 	(c)	 Manager may enter into any other suitable arrangements to withhold or deduct, in each case, in an amount
sufficient in the opinion of Manager to satisfy such withholding or deduction obligation. 

  

	3.9	 Tax Matters 

  

	 	(a)	 General 

Participants are urged to consult their own personal tax, legal and financial advisors regarding their participation in the Plan. 

 

	 	(b)	 Section 83(b) Election 

A U.S. Participant may make an election under Section 83(b) of the Code (a “Section 83(b) Election”) with respect to
the Escrowed Shares. Any such election must be made within thirty (30) days after the Grant Date. If the U.S. Participant elects to make a Section 83(b) Election, the U.S. Participant shall provide Manager with a copy of an executed
version and satisfactory evidence of the filing of the executed Section 83(b) Election with the United States Internal Revenue Service. The U.S. Participant agrees to assume full responsibility for ensuring that the Section 83(b) Election
is actually and timely filed with the United States Internal Revenue Service and for all tax consequences resulting from the Section 83(b) Election. 
  

	3.10	 Governing Law 

The validity, construction and effect of the Plan and any actions taken or relating to the Plan shall be governed by and interpreted and construed in
accordance with the laws of the Province of Ontario and the laws of Canada applicable therein. 
  

	3.11	 Effective Date 

The Plan shall be effective as of December 9, 2022 (the “Effective Date”).

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