Document:

Exhibit
10.48 

 

 

Securities
Purchase Agreement

 

by
and among

 

fuboTV
Inc.

 

And

 

[                ]

 

 

    	 

     

    

Table
of Contents

 

	Article
    I.	Definitions
    and Interpretation	1
	 	       	
	Section
    1.01	Definitions.	1
	Section
    1.02	Interpretive
    Provisions.	3
	 	 	
	Article
    II.	Purchase
    and Sale of Securities	3
	 	 	 
	Section
    2.01	Purchase
    and Sale of Securities.	3
	Section
    2.02	Closing.	4
	Section
    2.03	Deliverables
    and Actions at the Closing.	4
	Section
    2.04	Expenses.	4
	 	 	 
	Article
    III.	Representations
    and Warranties	5
	 	 	 
	Section
    3.01	Representations
    and Warranties of the Company.	5
	Section
    3.02	Representations
    and Warranties of the Purchaser.	10
	 	 	 
	Article
    IV.	Covenants
    and Additional Agreements	12
	 	 	 
	Section
    4.01	Public
    Disclosure.	12
	Section
    4.02	Further
    Assurances.	13
	Section
    4.03	Additional
    Listing Application.	13
	Section
    4.04	Registration.	13
	Section
    4.05	Removal
    of Legends.	13
	Section
    4.06	Furnishing
    of Information; Public Information.	13
	Section
    4.07	Listing
    of Common Stock.	14
	 	 	 
	Article
    V.	Survival;
    Indemnification	14
	 	 	 
	Section
    5.01	Survival.	14
	Section
    5.02	Indemnification.	15
	 	 	
	Article
    VI.	Miscellaneous	16
	 	 	 
	Section
    6.01	Governing
    Law; Jurisdiction Etc.	16
	Section
    6.02	Entire
    Agreement; Amendment.	16
	Section
    6.03	Notices.	17
	Section
    6.04	Delays
    or Omissions.	17
	Section
    6.05	Successors
    and Assigns.	17
	Section
    6.06	No
    Third Party Beneficiaries.	17
	Section
    6.07	Counterparts.	17
	Section
    6.08	Severability.	17
	Section
    6.09	SPECIFIC
    PERFORMANCE.	18
	Section
    6.10	No
    Consequential or Punitive Damages.	18
	Section
    6.11	Consents.	18
	Section
    6.12	Construction
    of Agreement.	18

 

Exhibit
A     Warrant

 

    	i

     

    

 

SECURITIES
PURCHASE AGREEMENT

 

Dated
as of [        ]

 

This
Securities Purchase Agreement (this “Agreement”) is entered into as of the date first set forth above (the “Closing
Date”), by and between fuboTV Inc., a Florida corporation (the “Company”), and [           ],
a Delaware limited liability company (the “Purchaser”). The Company and Purchaser may be collectively referred to
herein as the “Parties” and individually as a “Party”.

 

WHEREAS,
the Company desires to issue and sell to the Purchaser, and the Purchaser desires to purchase from the Company, (i) certain shares
of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) and (ii) a warrant to acquire
certain shares of Common Stock as set forth herein, and the Parties desire to undertake certain additional transactions as set
forth herein and in the Transaction Documents (as defined below) (collectively, the “Transactions”);

 

WHEREAS,
the Common Stock is being offered, sold and issued to the Purchaser, without registration under the Securities Act of 1933, as
amended (together with the rules and regulations thereunder, the “Securities Act”), in reliance on an exemption from
the registration requirements under the Securities Act; pursuant to Rule 506 of Regulation D promulgated under the Act;

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

Article
I.Definitions and Interpretation

 

Section
1.01Definitions. For purposes of this Agreement:

 

		(a)	“Action”
                                         means any claim, action, cause of action, demand, lawsuit, arbitration, inquiry, audit,
                                         notice of violation, proceeding, litigation, citation, summons, subpoena or investigation
                                         of any nature, civil, criminal, administrative, regulatory or otherwise, whether at law
                                         or in equity.

 

		(b)	“Affiliate”
                                         means, with respect to a specified Person, any other Person that directly or indirectly
                                         Controls, is Controlled by or is under common Control with, the specified Person.

 

		(c)	“Business
                                         Day” shall mean a day other than Saturday, Sunday or a federal holiday in which
                                         the OTCQB Venture Market is closed for trading.

 

		(d)	“Commission”
                                         means the Securities and Exchange Commission.

 

		(e)	“Common
                                         Stock Equivalents” means any securities of the Company or the Subsidiaries which
                                         would entitle the holder thereof to acquire at any time Common Stock, including, without
                                         limitation, any debt, preferred stock, right, option, warrant or other instrument that
                                         is at any time convertible into or exercisable or exchangeable for, or otherwise entitles
                                         the holder thereof to receive, Common Stock.

 

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		(f)	“Company
                                         Charter Documents” shall mean The Articles of Incorporation and Bylaws of the Company,
                                         each as amended to date.

 

		(g)	“Control”
                                         means (a) the possession, directly or indirectly, of the power to vote 10% or more of
                                         the securities or other equity interests of a Person having ordinary voting power, (b)
                                         the possession, directly or indirectly, of the power to direct or cause the direction
                                         of the management and policies of a Person, by contractor otherwise, or (c) being a director,
                                         officer, executor, trustee or fiduciary (or their equivalents) of a Person or a Person
                                         that controls such Person.

 

		(h)	“Effective
                                         Date” means the earliest of the date that (a) the registration statement contemplated
                                         by Section 4.04 has been declared effective by the Commission, (b) all of the Shares
                                         have been sold pursuant to Rule 144 or may be sold pursuant to Rule 144 without the requirement
                                         for the Company to be in compliance with the current public information required under
                                         Rule 144 and without volume or manner-of-sale restrictions, (c) following the one year
                                         anniversary of the Closing Date provided that a holder of Shares is not an Affiliate
                                         of the Company, or (d) all of the Shares may be sold pursuant to an exemption from registration
                                         under Section 4(a)(1) of the Securities Act without volume or manner-of-sale restrictions
                                         and the Company’s counsel has delivered to such holders a standing written unqualified
                                         opinion that resales may then be made by such holders of the Shares pursuant to such
                                         exemption which opinion shall be in form and substance reasonably acceptable to such
                                         holders.

 

		(i)	“Exchange
                                         Act” means the U.S. Securities and Exchange Act of 1934, as amended and the rules
                                         and regulations of the Commission promulgated thereunder.

 

		(j)	“Governmental
                                         Entity” shall mean any supranational, national, state, municipal, local or foreign
                                         government, any instrumentality, subdivision, court, administrative agency or commission
                                         or other governmental authority or instrumentality, or any quasi-governmental or private
                                         body exercising any regulatory, taxing, importing or other governmental or quasi-governmental
                                         authority.

 

		(k)	“Material
                                         Adverse Change” when used in connection with an entity, means any change, event,
                                         violation, inaccuracy, circumstance or effect (any such item, an “Effect”),
                                         individually or when taken together with all other Effects that have occurred prior to
                                         the date of determination of the occurrence of the Material Adverse Change, that (i)
                                         is or is reasonably likely to be materially adverse to the business, assets (including
                                         intangible assets), capitalization, financial condition or results of operations of such
                                         entity taken as a whole with its subsidiaries or (ii) will or is reasonably likely to
                                         materially impede the ability of such entity to timely consummate the Transactions in
                                         accordance with the terms thereof and applicable legal requirements.

 

		(l)	“Person”
                                         means a natural person, a corporation, a limited liability company, a partnership, an
                                         association, a trust or any other entity or organization, including a government or political
                                         subdivision or any agency or instrumentality thereof.

 

		(m)	“Representative”
                                         means, with respect to any Person, any and all directors, officers, employees, consultants,
                                         financial advisors, counsel, accountants and other agents of such Person.

 

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		(n)	“Significant
                                         Subsidiary” shall have the meaning provided by Rule 1-02 of Regulation S-X of the
                                         Commission.

 

		(o)	“Subsidiary,”
                                         when used with respect to any Party, shall mean any corporation or other organization,
                                         whether incorporated or unincorporated, at least a majority of the securities or other
                                         interests of which having by their terms ordinary voting power to elect a majority of
                                         the Board of Directors or others performing similar functions with respect to such corporation
                                         or other organization is directly or indirectly owned or controlled by such Party or
                                         by any one or more of its Subsidiaries, or by such Party and one or more of its Subsidiaries.

 

		(p)	“Subsidiary
                                         Charter Documents” shall mean the articles of incorporation or certificate of incorporation
                                         and bylaws, or like organizational documents of a Subsidiary.

 

		(q)	“Trading
                                         Market” means any of the following markets or exchanges on which the Common Stock
                                         is listed or quoted for trading on the date in question: the NYSE American, the Nasdaq
                                         Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York
                                         Stock Exchange, OTCQB Venture Market or OTCQX (or any successors to any of the foregoing).

 

		(r)	“Transaction
                                         Documents” means, collectively, this Agreement and any agreement, document, certificate
                                         or instrument entered into in connection with this Agreement or the Transactions.

 

Section
1.02Interpretive Provisions. Terms
defined in the singular shall have a comparable meaning when used in the plural, and vice versa; the terms “Dollars”
and “$” mean United States Dollars. Reference in this Agreement to gender shall include all genders, and words imparting
the singular number only shall include the plural and vice versa. The use of the terms “hereunder,” “hereof,”
“hereto” and words of similar import shall refer to this Agreement as a whole and not to any particular Article, Section
or clause of this Agreement. The use of the terms “including” or “include” shall in all cases herein mean
“including, without limitation” or “include, without limitation,” respectively. With respect to the determination
of any period of time, the word “from” means “from and including” and the words “to” and “until”
each means “to but excluding.” Reference to any Person includes such Person’s predecessors, successors and assigns
to the extent, in the case of successors and assigns, such successors and assigns are permitted by the terms of any applicable
agreement however, that nothing contained in this Section 1.02 is intended to authorize any assignment or transfer not otherwise
permitted by this Agreement. Reference to a Person in a particular capacity excludes such Person in any other capacity or individually.
Reference to any agreement (including this Agreement), document or instrument means such agreement, document or instrument as
amended or modified and in effect from time to time in accordance with the terms thereof and, if applicable, the terms hereof.
Reference to any law means such law as amended, modified, codified, replaced or re-enacted, in whole or in part, including rules,
regulations, enforcement procedures and any interpretations promulgated thereunder. References to Articles or Sections refer to
those portions of this Agreement.

 

Article
II.Purchase and Sale of Securities

 

Section
2.01Purchase and Sale of Securities. Upon the terms and conditions as set forth in this Agreement, at the
Closing (as defined below) the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company
(i) [    ] shares of Common Stock (the “Shares”), at a price per Share equal to $9.25 and for an aggregate purchase price
of $[    ] (the “Purchase Price”) and (ii) a warrant to acquire [    ] shares of Common Stock, an exercise price of $9.25
per share, with an eighteen-month exercise period, in the form as attached hereto as Exhibit A (the “Warrant” and,
together with the Shares, the “Securities”). The Company and the Purchaser are executing and delivering this Agreement
in accordance with and in reliance upon the exemption from securities registration afforded by Rule 506(b) promulgated under Regulation
D of the Securities Act.

 

    	3

     

    

 

Section
2.02Closing. The Company agrees to issue and sell to the Purchaser and, in consideration of and in express
reliance upon the representations, warranties, covenants, terms and conditions of this Agreement, the Purchaser agrees to purchase
the Securities. The closing of the purchase and sale of the Securities (the “Closing”) shall take place at the offices
of the Company located at 1115 Broadway, 12th Floor, New York, NY 10010, on the Closing Date.

 

Section
2.03Deliverables and Actions at the Closing.

 

		(a)	At
                                         the Closing, Purchaser shall deliver to the Company:

 

		(i)	The
                                         Purchase Price, via wire transfer to an account as identified by the Company prior to
                                         the Closing Date;

 

		(ii)	the
                                         Warrant, duly executed by an authorized officer of the Purchaser; and

 

		(iii)	such
                                         other documents as the Company may reasonably request for the purpose of evidencing the
                                         accuracy of any of Purchaser’s representations and warranties; evidencing the performance
                                         by the Purchaser of, or the compliance by the Purchaser with, any covenant or obligation
                                         required to be performed or complied with by the Purchaser; or otherwise facilitating
                                         the consummation or performance of any of the Transactions.

 

		(b)	At
                                         the Closing, the Company shall deliver to the Purchaser:

 

		(i)	a
                                         copy of the irrevocable instructions to the Company’s transfer agent instructing
                                         the transfer agent to issue the Shares to the Purchaser in book entry format;

 

		(ii)	the
                                         Warrant, duly executed by an authorized officer of the Company; and

 

		(iii)	such
                                         other documents as the Purchaser may reasonably request for the purpose of evidencing
                                         the accuracy of any of Company’s representations and warranties; evidencing the
                                         performance by the Company of, or the compliance by the Company with, any covenant or
                                         obligation required to be performed or complied with by the Company; or otherwise facilitating
                                         the consummation or performance of any of the Transactions.

 

Section
2.04Expenses.

 

As
soon as reasonably practicable following the Closing, the Company shall reimburse Purchaser for Purchaser’s reasonable out
of pocket costs and expenses in connection with the Transactions, up to a maximum amount of $[ ]. Purchaser shall provide to the
Company reasonable evidence of such costs and expenses.

 

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Article
III.Representations and Warranties

 

Section
3.01Representations and Warranties of the Company. Except as set forth in the disclosure schedules delivered
by the Company to the Purchaser on the Closing Date, referencing the subsection(s) of this Section 3.01 to which such disclosure
relate(s), and which disclosure schedules shall qualify such representations and warranties as set forth herein, the Company hereby
represents and warrants to the Purchaser as follows:

 

		(a)	Organization;
                                         Standing and Power. The Company and each of its Subsidiaries (i) is a corporation
                                         or other organization duly organized, validly existing and in good standing under the
                                         laws of the jurisdiction of its incorporation or organization, (ii) has the requisite
                                         power and authority to own, lease and operate its properties and to carry on its business
                                         as now being conducted and (iii) is duly qualified or licensed and in good standing to
                                         do business in each jurisdiction in which the nature of its business or the ownership
                                         or leasing of its properties makes such qualification or licensing necessary, other than
                                         in such jurisdictions where the failure to so qualify or to be in good standing, individually
                                         or in the aggregate, would not reasonably be expected to have a Material Adverse Change
                                         to the Company.

 

		(b)	Issuance
                                         and Delivery of Securities. The issuance and delivery of the Securities has been
                                         duly authorized and, when issued and paid for in accordance with the terms of this Agreement
                                         or the Warrant, (a) the Shares and the shares of Common Stock that may be issued pursuant
                                         to the Warrant (the “Warrant Shares”) shall be free and clear of any and
                                         all liens, security interests, options, claims, encumbrances or restrictions (collectively,
                                         “Liens”), except for such restrictions on transfer or ownership as set forth
                                         in this Agreement or otherwise imposed by applicable federal or state securities laws
                                         or by the Purchaser, (b) the Shares and the Warrant Shares shall have been duly authorized
                                         and validly issued, (c) shall be fully paid and nonassessable and (d) assuming the accuracy
                                         of the Purchaser’s representations and warranties herein, shall have been issued
                                         in compliance with all applicable federal and state securities laws. The issuance and
                                         delivery of the Securities and the Warrant Shares, if and when issued (collectively,
                                         the “Company Securities”) are not subject to any preemptive or similar rights.

 

		(c)	Charter
                                         Documents. The Company is not in violation of any of the provisions of the Company
                                         Charter Documents in any respect which would reasonably be expected to result in a Material
                                         Adverse Change, and each Significant Subsidiary of the Company is not in violation of
                                         its respective Subsidiary Charter Documents in any respect which would reasonably be
                                         expected to result in a Material Adverse Change.

 

		(d)	Subsidiaries.
                                         All the outstanding shares of capital stock of, or other equity or voting interests in,
                                         each Significant Subsidiary have been validly issued and are fully paid and nonassessable
                                         and are owned by the Company, a wholly owned Subsidiary of the Company, or the Company
                                         and another wholly owned Subsidiary of the Company, free and clear of all Liens, including
                                         any restriction on the right to vote, sell or otherwise dispose of such capital stock
                                         or other ownership interests, except for restrictions imposed by (i) applicable securities
                                         laws; (ii) that certain Credit and Guaranty Agreement dated as of April 6, 2018, by and
                                         among fuboTV Inc., certain subsidiaries of fuboTV Inc., as guarantors, and AMC Networks
                                         Ventures LLC; and (iii) that certain credit agreement and collateral agreement, both
                                         dated July 16, 2020, by and among the Company, fuboTV Inc., and Access Road Capital LLC;
                                         except as would not reasonably be expected to have a Material Adverse Change to the Company
                                         or a Material Adverse Change to such Subsidiary. Other than the Subsidiaries of the Company,
                                         neither the Company nor any of its Subsidiaries owns any capital stock of, or other equity
                                         or voting interests of any nature in, or any interest convertible, exchangeable or exercisable
                                         for, capital stock of, or other equity or voting interests of any nature in, any other
                                         Person. For purposes of this Agreement, the term “Lien” shall mean pledges,
                                         claims, liens, charges, encumbrances, options and security interests of any kind or nature
                                         whatsoever.

 

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		(e)	Capital
                                         Stock. The authorized capital stock of the Company consists of: (i) 400,000,000 shares
                                         of Common Stock and (ii) 50,000,000 shares of preferred stock, par value $0.0001 per
                                         share (the “Preferred Stock”). At the close of business on August 21, 2020
                                         (i) 46,132,245 shares of Common Stock were issued and outstanding; (ii) 27,412,393 shares
                                         of Series AA Preferred Stock of the Company were issued and outstanding and (iii) 203,000
                                         shares of Series D Preferred Stock of the Company were issued and outstanding. No shares
                                         of Common Stock are owned or held by any Subsidiary of the Company. No Person has any
                                         right of first refusal, preemptive right, right of participation, or any similar right
                                         to participate in the transactions contemplated by this Agreement. Except as a result
                                         of the purchase and sale of the Company Securities, there are no outstanding options,
                                         warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever
                                         relating to, or securities, rights or obligations convertible into or exercisable or
                                         exchangeable for, or giving any Person any right to subscribe for or acquire, any shares
                                         of Common Stock or the capital stock of any Subsidiary, or contracts, commitments, understandings
                                         or arrangements by which the Company or any Subsidiary is or may become bound to issue
                                         additional shares of Common Stock or Common Stock Equivalents or capital stock of any
                                         Subsidiary. The issuance and sale of the Company Securities will not obligate the Company
                                         or any Subsidiary to issue shares of Common Stock or other securities to any Person (other
                                         than the Purchaser). There are no outstanding securities or instruments of the Company
                                         or any Subsidiary with any provision that adjusts the exercise, conversion, exchange
                                         or reset price of such security or instrument upon an issuance of securities by the Company
                                         or any Subsidiary. There are no outstanding securities or instruments of the Company
                                         or any Subsidiary that contain any redemption or similar provisions, and there are no
                                         contracts, commitments, understandings or arrangements by which the Company or any Subsidiary
                                         is or may become bound to redeem a security of the Company or such Subsidiary. The Company
                                         does not have any stock appreciation rights or “phantom stock” plans or agreements
                                         or any similar plan or agreement. All of the outstanding shares of capital stock of the
                                         Company are duly authorized, validly issued, fully paid and nonassessable, have been
                                         issued in compliance with all federal and state securities laws, and none of such outstanding
                                         shares was issued in violation of any preemptive rights or similar rights to subscribe
                                         for or purchase securities. No further approval or authorization of any stockholder,
                                         the Company’s Board of Directors or others is required for the issuance and sale
                                         of the Company Securities. There are no stockholders’ agreements, voting agreements
                                         or other similar agreements with respect to the Company’s capital stock to which
                                         the Company is a party or, to the knowledge of the Company, between or among any of the
                                         Company’s stockholders.

 

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		(f)	Authority.
                                         The Company has all requisite corporate power and authority to enter into this Agreement
                                         and the Transaction Documents which are executed by the Company or to which the Company
                                         is a party. The execution and delivery of the Transaction Documents and the consummation
                                         of the Transactions have been duly authorized by all necessary corporate action on the
                                         part of the Company and no other corporate or other proceeding on the part of the Company
                                         is necessary to authorize the execution and delivery of the Transaction Documents or
                                         to consummate the Transactions, subject only to such registrations, declarations and
                                         filings as may be required under applicable federal, foreign and state securities (or
                                         related) laws including without limitation the filing for Form D with the Commission
                                         and the rules and regulations of the OTCQB Venture Market (the “Necessary Consents”).
                                         The Transaction Documents have been, or will be upon the Closing, duly executed and delivered
                                         by the Company and, assuming due execution and delivery by the other Parties, constitutes
                                         the valid and binding obligation of the Company, enforceable against the Company in accordance
                                         with its terms, except as such enforceability may be subject to the laws of general application
                                         relating to bankruptcy, insolvency, and the relief of debtors and rules of law governing
                                         specific performance, injunctive relief or other equitable remedies.

 

		(g)	Non-Contravention.
                                         The execution and delivery of the Transaction Documents by the Company does not, and
                                         performance of the Transaction Documents by the Company and the consummation of the Transactions
                                         will not: (i) conflict with or violate the Company Charter Documents or any Subsidiary
                                         Charter Documents of any Subsidiary of the Company or (ii) result in any breach of or
                                         constitute a default (or an event that with notice or lapse of time or both would become
                                         a default) under, or materially impair the Company’s rights or alter the rights
                                         or obligations of any third party under, or give to others any rights of termination,
                                         amendment, acceleration or cancellation of, or result in the creation of a Lien on any
                                         of the properties or assets of the Company or any of its Subsidiaries pursuant to, any
                                         material contract of the Company, in each case other than would not reasonably be expected
                                         to result in a Material Adverse Change.

 

		(h)	Necessary
                                         Consents. No consent, approval, order or authorization of, or registration, declaration
                                         or filing with any Governmental Entity or any other Person is required to be obtained
                                         or made by the Company in connection with the execution and delivery of the Transaction
                                         Documents or the consummation of the Transactions, except for (i) the Necessary Consents
                                         and (ii) such other consents, authorizations, filings, approvals and registrations which
                                         if not obtained or made would not reasonably be expected to result in a Material Adverse
                                         Change or materially adversely affect the ability of the Parties to consummate the Transactions.

 

		(i)	SEC
                                         Reports; Financial Statements. The Company has filed all reports, schedules, forms,
                                         statements and other documents required to be filed by the Company under the Securities
                                         Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the
                                         two years preceding the date hereof (or such shorter period as the Company was required
                                         by law or regulation to file such material) (the foregoing materials, including the exhibits
                                         thereto and documents incorporated by reference therein, being collectively referred
                                         to herein as the “SEC Reports”) on a timely basis or has received a valid
                                         extension of such time of filing and has filed any such SEC Reports prior to the expiration
                                         of any such extension. As of their respective dates, the SEC Reports complied in all
                                         material respects with the requirements of the Securities Act and the Exchange Act, as
                                         applicable, and none of the SEC Reports, when filed, contained any untrue statement of
                                         a material fact or omitted to state a material fact required to be stated therein or
                                         necessary in order to make the statements therein, in the light of the circumstances
                                         under which they were made, not misleading. The Company has never been an issuer subject
                                         to Rule 144(i) under the Securities Act. The financial statements of the Company included
                                         in the SEC Reports comply in all material respects with applicable accounting requirements
                                         and the rules and regulations of the Commission with respect thereto as in effect at
                                         the time of filing. Such financial statements have been prepared in accordance with United
                                         States generally accepted accounting principles applied on a consistent basis during
                                         the periods involved (“GAAP”), except as may be otherwise specified in such
                                         financial statements or the notes thereto and except that unaudited financial statements
                                         may not contain all footnotes required by GAAP, and fairly present in all material respects
                                         the financial position of the Company and its consolidated Subsidiaries as of and for
                                         the dates thereof and the results of operations and cash flows for the periods then ended,
                                         subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments.

 

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		(j)	Material
                                         Changes; Undisclosed Events, Liabilities or Developments. Since the date of the latest
                                         audited financial statements included within the SEC Reports (i) there has been no event,
                                         occurrence or development that has had or that could reasonably be expected to result
                                         in a Material Adverse Change, (ii) the Company has not incurred any liabilities (contingent
                                         or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary
                                         course of business consistent with past practice and (B) liabilities not required to
                                         be reflected in the Company’s financial statements pursuant to GAAP or disclosed
                                         in filings made with the Commission, (iii) the Company has not altered its method of
                                         accounting, (iv) the Company has not declared or made any dividend or distribution of
                                         cash or other property to its stockholders or purchased, redeemed or made any agreements
                                         to purchase or redeem any shares of its capital stock and (v) the Company has not issued
                                         any equity securities to any officer, director or Affiliate, except pursuant to existing
                                         Company stock option plans. The Company does not have pending before the Commission any
                                         request for confidential treatment of information. Except for the issuance of the Company
                                         Securities contemplated by this Agreement, no event, liability, fact, circumstance, occurrence
                                         or development has occurred or exists or is reasonably expected to occur or exist with
                                         respect to the Company or its Subsidiaries or their respective businesses, prospects,
                                         properties, operations, assets or financial condition that would be required to be disclosed
                                         by the Company under applicable securities laws as of the Closing Date that has not been
                                         publicly disclosed at least 1 Business Day prior to the Closing Date.

 

		(k)	Intellectual
                                         Property. The Company and the Subsidiaries have, or have rights to use, all patents,
                                         patent applications, trademarks, trademark applications, service marks, trade names,
                                         trade secrets, inventions, copyrights, licenses and other intellectual property rights
                                         and similar rights necessary or required for use in connection with their respective
                                         businesses as described in the SEC Reports and which the failure to so have could have
                                         a Material Adverse Change (collectively, the “Intellectual Property Rights”).
                                         Neither the Company nor any Subsidiary has received a notice (written or otherwise) that
                                         any of, the Intellectual Property Rights has expired, terminated or been abandoned, or
                                         is expected to expire or terminate or be abandoned, within two (2) years from the Closing
                                         Date. Neither the Company nor any Subsidiary has received, since the date of the latest
                                         audited financial statements included within the SEC Reports, a written notice of a claim
                                         or otherwise has any knowledge that the Intellectual Property Rights violate or infringe
                                         upon the rights of any Person, except as could not have or reasonably be expected to
                                         not have a Material Adverse Change. To the knowledge of the Company, all such Intellectual
                                         Property Rights are enforceable, except as such enforceability may be subject to the
                                         laws of general application relating to bankruptcy, insolvency, and the relief of debtors
                                         and rules of law governing specific performance, injunctive relief or other equitable
                                         remedies, and there is no existing infringement by another Person of any of the Intellectual
                                         Property Rights. The Company and its Subsidiaries have taken reasonable security measures
                                         to protect the secrecy, confidentiality and value of all of their intellectual properties,
                                         except where failure to do so could not, individually or in the aggregate, reasonably
                                         be expected to have a Material Adverse Change.

 

    	8

     

    

 

		(l)	Listing
                                         and Maintenance Requirements. The Common Stock is registered pursuant to Section
                                         12(b) or 12(g) of the Exchange Act, and the Company has taken no action designed to,
                                         or which to its knowledge is likely to have the effect of, terminating the registration
                                         of the Common Stock under the Exchange Act nor has the Company received any notification
                                         that the Commission is contemplating terminating such registration. The Company has not,
                                         in the 12 months preceding the date hereof, received notice from the OTCQB Venture Market
                                         to the effect that the Company is not in compliance with the listing or maintenance requirements
                                         of the OTCQB Venture Market. The Company is, and has no reason to believe that it will
                                         not in the foreseeable future continue to be, in compliance with all such listing and
                                         maintenance requirements. The Common Stock is currently eligible for electronic transfer
                                         through the Depository Trust Company or another established clearing corporation and
                                         the Company is current in payment of the fees to the Depository Trust Company (or such
                                         other established clearing corporation) in connection with such electronic transfer.

 

		(m)	Acknowledgment
                                         Regarding Purchaser’s Trading Activity. Anything in this Agreement or elsewhere
                                         herein to the contrary notwithstanding, it is understood and acknowledged by the Company
                                         that: (i) the Purchaser has not been asked by the Company to agree, nor has any Purchaser
                                         agreed, to desist from purchasing or selling, long and/or short, securities of the Company,
                                         or “derivative” securities based on securities issued by the Company or to
                                         hold the Company Securities for any specified term, (ii) past or future open market or
                                         other transactions by the Purchaser, specifically including, without limitation, short
                                         sales or “derivative” transactions, before or after the closing of this or
                                         future private placement transactions, may negatively impact the market price of the
                                         Company’s publicly-traded securities, (iii) the Purchaser, and counter-parties
                                         in “derivative” transactions to which any such Purchaser is a party, directly
                                         or indirectly, presently may have a “short” position in the Common Stock
                                         and (iv) the Purchaser shall not be deemed to have any affiliation with or control over
                                         any arm’s length counter-party in any “derivative” transaction. The
                                         Company further understands and acknowledges that (y) the Purchaser may engage in hedging
                                         activities at various times and (z) such hedging activities (if any) could reduce the
                                         value of the existing stockholders’ equity interests in the Company at and after
                                         the time that the hedging activities are being conducted. The Company acknowledges that
                                         such aforementioned hedging activities do not constitute a breach of this Agreement

 

    	9

     

    

 

Section
3.02Representations and Warranties of the Purchaser. The Purchaser hereby makes the following representations
and warranties to the Company:

 

		(a)	Organization
                                         and Standing of the Purchaser. Purchaser is a limited liability company, duly organized,
                                         validly existing and in good standing under the laws of the State of Delaware.

 

		(b)	Authorization
                                         and Power. The Purchaser has the requisite power and authority to enter into and
                                         perform the Transaction Documents and to purchase the Company Securities. The execution,
                                         delivery and performance of the Transaction Documents by the Purchaser and the consummation
                                         by it of the Transactions have been duly authorized by all necessary corporate or other
                                         action, and no further consent or authorization of the Purchaser or its manager(s), members
                                         or partners, as the case may be, is required. The Transaction Documents constitute, or
                                         shall constitute when executed and delivered by the Company and the Purchaser, valid
                                         and binding obligations of the Purchaser enforceable against the Purchaser in accordance
                                         with their respective terms, except as such enforceability may be limited by applicable
                                         bankruptcy, insolvency, reorganization, moratorium, liquidation, conservatorship, receivership
                                         or similar laws relating to, or affecting generally the enforcement of creditor’s
                                         rights and remedies or by other equitable principles of general application.

 

		(c)	Investment
                                         Representations. 

 

		(i)	Purchaser
                                         understands and agrees that the consummation of this Transactions including the delivery
                                         of the Company Securities to Purchaser as contemplated hereby constitutes the offer and
                                         sale of securities under the Securities Act and applicable state statutes and that the
                                         Company Securities are being acquired for Purchaser’s own account and not with
                                         a present view towards the public sale or distribution thereof, except pursuant to sales
                                         registered or exempted from registration under the Securities Act (this representation
                                         and warranty not limiting the Purchaser’s right to sell the Securities pursuant
                                         to an effective registration statement or otherwise in compliance with applicable federal
                                         and state securities laws).

 

		(ii)	Purchaser
                                         is an “accredited investor” as that term is defined in Rule 501(a) of Regulation
                                         D under the Securities Act (an “Accredited Investor”).

 

		(iii)	Purchaser
                                         understands that the Company Securities are being offered and sold to Purchaser in reliance
                                         upon specific exemptions from the registration requirements of United States federal
                                         and state securities laws and that the Company is relying upon the truth and accuracy
                                         of, and Purchaser’s compliance with, the representations, warranties, agreements,
                                         acknowledgments and understandings of Purchaser set forth herein in order to determine
                                         the availability of such exemptions and the eligibility of Purchaser to acquire the Company
                                         Securities.

 

		(iv)	Purchaser
                                         and its advisors, if any, have been furnished with all materials relating to the Business,
                                         finances and operations of the Company and materials relating to the offer and sale of
                                         the Company Securities which have been requested by Purchaser or its advisors. Purchaser
                                         and its advisors, if any, have been afforded the opportunity to ask questions of the
                                         Company. Purchaser understands that its investment in the Company Securities involves
                                         a significant degree of risk.

 

		(v)	At
                                         no time was Purchaser presented with or solicited by any leaflet, newspaper or magazine
                                         article, radio or television advertisement, or any other form of general advertising
                                         or solicited or invited to attend a promotional meeting otherwise than in connection
                                         and concurrently with such communicated offer. Purchaser is not purchasing the Company
                                         Securities acquired by Purchaser hereunder as a result of any “general solicitation”
                                         or “general advertising,” as such terms are defined in Regulation D under
                                         the Securities Act, which includes, but is not limited to, any advertisement, article,
                                         notice or other communication regarding the Company Securities acquired by Purchaser
                                         hereunder published in any newspaper, magazine or similar media or on the internet or
                                         broadcast over television, radio or the internet or presented at any seminar or any other
                                         general solicitation or general advertisement.

 

    	10

     

    

 

		(vi)	Purchaser
                                         is acquiring the Company Securities for its own account as principal, not as a nominee
                                         or agent, for investment purposes only, and not with a view to, or for, resale, distribution
                                         or fractionalization thereof in whole or in part and no other Person has a direct or
                                         indirect beneficial interest in the Company Securities. Further, Purchaser does not have
                                         any contract, undertaking, agreement or arrangement with any Person to sell, transfer
                                         or grant participations to such Person or to any third Person, with respect to the Company
                                         Securities.

 

		(vii)	Purchaser
                                         understands that (i) the sale or re-sale of the Company Securities has not been and is
                                         not being registered under the Securities Act or any applicable state securities laws,
                                         and the Company Securities may not be transferred unless (1) the Company Securities are
                                         sold pursuant to an effective registration statement under the Securities Act; (2) Purchaser
                                         shall have delivered to the Company, at the cost of the Company, an opinion of counsel
                                         that shall be in form, substance and scope customary for opinions of counsel in comparable
                                         transactions to the effect that the Company Securities to be sold or transferred may
                                         be sold or transferred pursuant to an exemption from such registration, which opinion
                                         shall be accepted by the Company; (3) the Company Securities are sold or transferred
                                         to an “affiliate” (as defined in Rule 144 promulgated under the Securities
                                         Act (or a successor rule) (“Rule 144”) of Purchaser who agrees to sell or
                                         otherwise transfer the Company Securities only in accordance with this Agreement to a
                                         Person who is an Accredited Investor; (4) the Company Securities are sold pursuant to
                                         Rule 144; (5) the Company Securities are sold pursuant to Regulation S under the Securities
                                         Act (or a successor rule) (“Regulation S”); or (6) the Company Securities
                                         are sold pursuant to the exemption from registration afforded under Section 4(a)(1) or
                                         Section 4(a)(7) of the Securities Act, and Purchaser shall have delivered to the Company,
                                         at the cost of the Company, an opinion of counsel that shall be in form, substance and
                                         scope customary for opinions of counsel in corporate transactions, which opinion shall
                                         be accepted by the Company; (ii) any sale of Company Securities made in reliance on Rule
                                         144 may be made only in accordance with the terms of said Rule and further, if said Rule
                                         is not applicable, any re-sale of Company Securities under circumstances in which the
                                         seller (or the Person through whom the sale is made) may be deemed to be an underwriter
                                         (as that term is defined in the Securities Act) may require compliance with some other
                                         exemption under the Securities Act or the rules and regulations of the Securities and
                                         Exchange Commission thereunder; and (iii) neither the Company nor any other Person is
                                         under any obligation to register such Company Securities under the Securities Act or
                                         any state securities laws or to comply with the terms and conditions of any exemption
                                         thereunder (in each case).

 

    	11

     

    

 

		(viii)	Purchaser,
                                         either alone or together with its representatives, has such knowledge, sophistication
                                         and experience in business and financial matters so as to be capable of evaluating the
                                         merits and risks of the prospective investment in the Company Securities, and has so
                                         evaluated the merits and risks of such investment. Purchaser is able to bear the economic
                                         risk of its investment in the Company Securities and, at the present time, is able to
                                         afford a complete loss of such investment.

 

		(ix)	Purchaser
                                         understands that no United States federal or state agency or any other governmental or
                                         state agency has passed on or made recommendations or endorsement of the Company Securities
                                         or the suitability of the investment in the Company Securities nor have such authorities
                                         passed upon or endorsed the merits of the Transactions set forth herein.

 

		(x)	Any
                                         legend required by the securities laws of any state to the extent such laws are applicable
                                         to any Shares or the Warrant Shares represented by a certificate so legended shall be
                                         included on any certificates representing the Shares or the Warrant Shares. Purchaser
                                         also understands that the Shares may bear the following or a substantially similar legend
                                         unless and until the Shares or the Warrant Shares are registered for resale under the
                                         Securities Act:

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR REGISTERED
OR QUALIFIED UNDER ANY STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED,
PLEDGED, OR HYPOTHECATED UNLESS QUALIFIED AND REGISTERED UNDER APPLICABLE STATE AND FEDERAL SECURITIES LAWS OR UNLESS, IN THE
OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY, SUCH QUALIFICATION AND REGISTRATION ARE NOT REQUIRED. ANY TRANSFER
OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS FURTHER SUBJECT TO OTHER RESTRICTIONS, TERMS AND CONDITIONS WHICH ARE NOT
SET FORTH HEREIN.

 

		(d)	Brokers.
                                         Purchaser has not engaged any investment banker, finder, broker or sales agent or any
                                         other Person in connection with the origin, negotiation, execution, delivery or performance
                                         of any Transaction Document to which it is a party, or the Transactions.

 

Article
IV.Covenants and Additional Agreements

 

Section
4.01Public Disclosure. The Parties
shall consult with each other, and to the extent practicable, agree, before issuing any press release or Form 8-K or otherwise
making any public statement with respect to the Transactions other than as may be required by applicable law, the Commission or
the OTCQB Venture Market, as advised by counsel to the Company. The Company will file a Current Report on Form 8-K disclosing
the transactions contemplated by this Agreement as required by applicable law.

 

    	12

     

    

 

Section
4.02Further Assurances. From and after the date of this Agreement, upon the request of the Purchaser or
the Company, the Company and the Purchaser shall execute and deliver such instruments, documents and other writings as may be
reasonably necessary or desirable to confirm and carry out and to effectuate fully the intent and purposes of this Agreement.
Each Party agrees to use its commercially reasonable efforts to take or cause to be taken all action and to do or cause to be
done all things necessary, proper or advisable under applicable laws and regulations to consummate and make effective the Transactions,
subject to the terms and conditions hereof and thereof.

 

Section
4.03Additional Listing Application. To
the extent required by the rules of the OTCQB Venture Market, the Company will file a notification form for the listing of the
Shares in connection with the Transactions.

 

Section
4.04Registration. Following the
Closing Date, the Company shall utilize its commercially reasonable efforts to file, by November 1, 2020 (the “Filing Deadline”),
a resale registration statement pursuant to the Securities Act with the Commission for the resale of the Shares and the Warrant
Shares by the Purchaser, and use commercially reasonable efforts to cause such registration statement to be declared effective
by the Commission by the 45th calendar day after the earlier of the filing date or the Filing Deadline.

 

Section
4.05Removal of Legends. Any certificates evidencing the Shares and the Warrant Shares shall not contain
any legend (including the legend set forth in Section 3.02(c)(x) hereof), (i) while a registration statement covering the resale
of such security is effective under the Securities Act, (ii) following any sale of such Shares pursuant to Rule 144 in accordance
with the provisions herein, (iii) if such Shares or Warrant Shares are eligible for sale under Rule 144, or (iii) if such legend
is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued
by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to its transfer agent or the Purchaser
promptly after the Effective Date to effect the removal of the legend hereunder. The Company agrees that following the Effective
Date or at such time as such legend is no longer required under this Section 4.05, it will, no later than two (2) Trading Days
following the delivery by the Purchaser to the Company or the Company’s transfer agent of any certificate representing Shares
or Warrant Shares issued with a restrictive legend (such date, the “Legend Removal Date”), deliver or cause to be
delivered to the Purchaser a certificate representing such shares that is free from all restrictive and other legends. The Company
may not make any notation on its records or give instructions to the transfer agent that enlarge the restrictions on transfer
set forth in this Section 4.05. Certificates for Shares subject to legend removal hereunder shall be transmitted by the Company’s
transfer agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company
System as directed by such Purchaser.

 

Section
4.06Furnishing of Information; Public Information.

 

		(a)	Until
                                         such time that the Purchaser does not own any of the Company Securities, the Company
                                         covenants to maintain the registration of the Common Stock under Section 12(b) or 12(g)
                                         of the Exchange Act and to timely file (or obtain extensions in respect thereof and file
                                         within the applicable grace period) all reports required to be filed by the Company after
                                         the date hereof pursuant to the Exchange Act even if the Company is not then subject
                                         to the reporting requirements of the Exchange Act.

 

    	13

     

    

 

		(b)	At
                                         any time during the period commencing from the six (6) month anniversary of the date
                                         hereof and ending at such time that all of the Shares may be sold without the requirement
                                         for the Company to be in compliance with Rule 144(c)(1) and otherwise without restriction
                                         or limitation pursuant to Rule 144, if the Company (i) shall fail for any reason to satisfy
                                         the current public information requirement under Rule 144(c) or (ii) becomes an issuer
                                         described in Rule 144(i)(1)(i) in the future, and the Company shall or (x) fail to satisfy
                                         any condition set forth in Rule 144(i)(2) (a “Public Information Failure”)
                                         then, in addition to such Purchaser’s other available remedies, the Company shall
                                         pay to a Purchaser, in cash, as partial liquidated damages and not as a penalty, by reason
                                         of any such delay in or reduction of its ability to sell the Shares or Warrant Shares,
                                         an amount in cash equal to one percent (1.0%) of the aggregate Purchase Price for the
                                         Shares, on the day of a Public Information Failure and on every thirtieth (30th)
                                         day (pro-rated for periods totaling less than thirty days) thereafter until the earlier
                                         of (a) the date such Public Information Failure is cured and (b) such time that such
                                         public information is no longer required for the Purchasers to transfer the Shares pursuant
                                         to Rule 144. The payments to which Purchaser shall be entitled pursuant to this Section
                                         4.06(b) are referred to herein as “Public Information Failure Payments.”
                                         Public Information Failure Payments shall be paid on the earlier of (i) the last day
                                         of the calendar month during which such Public Information Failure Payments are incurred
                                         and (ii) the third (3rd) Business Day after the event or failure giving rise
                                         to the Public Information Failure Payments is cured. In the event the Company fails to
                                         make Public Information Failure Payments in a timely manner, such Public Information
                                         Failure Payments shall bear interest at the rate of 1.5% per month (prorated for partial
                                         months) until paid in full. Nothing herein shall limit the Purchaser’s right to
                                         pursue actual damages for the Public Information Failure, and the Purchaser shall have
                                         the right to pursue all remedies available to it at law or in equity including, without
                                         limitation, a decree of specific performance and/or injunctive relief.

 

Section
4.07Listing of Common Stock. The Company hereby agrees to use its commercially reasonable efforts to maintain
the listing or quotation of the Common Stock on a Trading Market. The Company will then take all action commercially reasonably
necessary to continue the listing and trading of its Common Stock on a Trading Market and will comply in all material respects
with the Company’s reporting, filing and other obligations under the bylaws or rules of such Trading Market. The Company
agrees to use its commercially reasonable efforts to maintain the eligibility of the Common Stock for electronic transfer through
the Depository Trust Company or another established clearing corporation, including, without limitation, by timely payment of
fees to the Depository Trust Company or such other established clearing corporation in connection with such electronic transfer.

 

Article
V.Survival; Indemnification

 

Section
5.01Survival. Subject to the
limitations and other provisions of this Agreement, the representations, warranties and covenants of the Parties contained herein
shall survive the Closing and shall remain in full force and effect for the maximum period permitted by applicable law.

 

    	14

     

    

 

Section
5.02Indemnification. Subject
to the provisions of this Section 5.02, the Company will indemnify and hold the Purchaser and its directors, officers, shareholders,
members, partners, employees and agents (and any other Persons with a functionally equivalent role of a Person holding such titles
notwithstanding a lack of such title or any other title), each Person who controls such Purchaser (within the meaning of Section
15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders, agents, members, partners
or employees (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack
of such title or any other title) of such controlling persons (each, a “Purchaser Party”) harmless from any and all
losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in
settlements, court costs and reasonable attorneys’ fees and costs of investigation that any such Purchaser Party may suffer
or incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants or agreements made
by the Company in this Agreement or in the other Transaction Documents, (b) any action instituted against the Purchaser Parties
in any capacity, or any of them or their respective Affiliates, by any stockholder of the Company who is not an Affiliate of such
Purchaser Party, with respect to any of the transactions contemplated by the Transaction Documents (unless such action is solely
based upon a material breach of such Purchaser Party’s representations, warranties or covenants under the Transaction Documents
or any agreements or understandings such Purchaser Party may have with any such stockholder or any violations by such Purchaser
Party of state or federal securities laws or any conduct by such Purchaser Party which is finally judicially determined to constitute
fraud, gross negligence or willful misconduct) or (c) an untrue statement or alleged untrue statement of a material fact contained
in any registration statement contemplated by Section 4.04 or an omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein, not misleading, or arise out of or are based upon an
untrue statement or alleged untrue statement of a material fact contained in any prospectus included in any such registration
statement or an omission or alleged omission to state therein a material fact required to be stated therein or necessary to make
the statements therein, in the light of the circumstances under which they were made, not misleading. If any action shall be brought
against any Purchaser Party in respect of which indemnity may be sought pursuant to this Agreement, such Purchaser Party shall
promptly notify the Company in writing, and the Company shall have the right to assume the defense thereof with counsel of its
own choosing reasonably acceptable to the Purchaser Party. Any Purchaser Party shall have the right to employ separate counsel
in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of
such Purchaser Party except to the extent that (i) the employment thereof has been specifically authorized by the Company in writing,
(ii) the Company has failed after a reasonable period of time to assume such defense and to employ counsel or (iii) in such action
there is, in the reasonable opinion of counsel, a material conflict on any material issue between the position of the Company
and the position of such Purchaser Party, in which case the Company shall be responsible for the reasonable fees and expenses
of no more than one such separate counsel. The Company will not be liable to any Purchaser Party under this Agreement (y) for
any settlement by a Purchaser Party effected without the Company’s prior written consent, which shall not be unreasonably
withheld or delayed; or (z) to the extent, but only to the extent that a loss, claim, damage or liability is attributable to any
Purchaser Party’s breach of any of the representations, warranties, covenants or agreements made by such Purchaser Party
in this Agreement or in the other Transaction Documents. The indemnification required by this Section 5.02 shall be made by periodic
payments of the amount thereof during the course of the investigation or defense, as and when bills are received or are incurred.
The indemnity agreements contained herein shall be in addition to any cause of action or similar right of any Purchaser Party
against the Company or others and any liabilities the Company may be subject to pursuant to law.

 

    	15

     

    

 

Article
VI.Miscellaneous

 

Section
6.01Governing Law; Jurisdiction Etc.

 

		(a)	This
                                         Agreement shall be governed by and construed and enforced in accordance with the internal
                                         laws of the State of New York without giving effect to the principles of conflicts of
                                         laws.

 

		(b)	Any
                                         legal action or other legal proceeding relating to this Agreement or the enforcement
                                         of any provision of this Agreement shall be brought or otherwise commenced solely in
                                         any state or federal court located in the State of New York. Each Party hereto agrees
                                         to the entry of an order to enforce any resolution, settlement, order or award made pursuant
                                         to this Section 6.01 by the state and federal courts located in the State of New York
                                         and in connection therewith hereby waives, and agrees not to assert by way of motion,
                                         as a defense, or otherwise, any claim that such resolution, settlement, order or award
                                         is inconsistent with or violative of the laws or public policy of the laws of the State
                                         of New York or any other jurisdiction.

 

		(c)	EACH
                                         PARTY HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT
                                         MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT
                                         OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS, THE PERFORMANCE THEREOF OR THE
                                         FINANCINGS CONTEMPLATED THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).
                                         EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER
                                         PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE
                                         EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT
                                         AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG
                                         OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 6.01(c).

 

Section
6.02Entire Agreement; Amendment. This
Agreement and the other Transaction Documents constitute the full and entire understanding and agreement between the Parties with
regard to the subjects hereof and thereof. Any previous agreements among the Parties relative to the specific subject matter hereof
are superseded by this Agreement. Neither this Agreement nor any provision hereof may be amended, changed, waived, discharged
or terminated other than by a written instrument signed by both Parties.

 

    	16

     

    

 

Section
6.03Notices. All notices and
other communications required or permitted hereunder shall be effective upon receipt and shall be in writing and may be delivered
in person, by telecopy, electronic mail, express delivery service or U.S. mail, in which event it may be mailed by first-class,
certified or registered, postage prepaid, addressed, to the Party to be notified, at the respective addresses set forth below,
or at such other address which may hereinafter be designated in writing:

 

If
to the Purchaser, to:

 

[               ]

 

with
a copy (which shall not constitute notice) to:

 

[               ]

 

If
to the Company, to:

 

fuboTV
Inc.

Attention: Chief Executive Officer

1115
Broadway, 12th Floor

New
York, NY 10010

Email: dgandler@fubo.tv

 

with
a copy (which shall not constitute notice) to:

 

Anthony
L.G., PLLC

Attention:
Laura Anthony

625
N. Flagler Drive, Suite 600

West
Palm Beach, FL 33401

Email:
Lanthony@anthonypllc.com

 

Section
6.04Delays or Omissions. It is agreed that no delay or omission to exercise any right, power or remedy
accruing to any Party upon any breach or default of the other Party shall impair any such right, power or remedy, nor shall it
be construed to be a waiver of any such breach or default, or any acquiescence therein, or of any similar breach or default thereafter
occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore
or thereafter occurring. It is further agreed that any waiver, permit, consent or approval of any kind or character of any breach
or default under this Agreement, or any waiver of any provisions or conditions of this Agreement must be in writing and shall
be effective only to the extent specifically set forth in writing, and that all remedies, either under this Agreement, by law
or otherwise, shall be cumulative and not alternative.

 

Section
6.05Successors and Assigns. Except
as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors
and assigns of the Parties. No Party may assign, delegate or otherwise transfer any of its rights or obligations under this Agreement
without the written consent of the other Parties.

 

Section
6.06No Third Party Beneficiaries. Other
than as specifically set forth herein, including in Article V, nothing in this Agreement, expressed or implied, shall confer on
any Person other than the Parties, and their respective successors and assigns, any rights, remedies, obligations, or liabilities
under or by reason of this Agreement.

 

Section
6.07Counterparts. This Agreement
may be executed in two or more counterparts, all of which shall be considered one and the same agreement and shall become effective
when counterparts have been signed by each of the Parties and delivered to the other Parties, it being understood that each Party
need not sign the same counterpart. A facsimile copy or electronic transmission of a signature page shall be deemed to be an original
signature page.

 

Section
6.08Severability. If any provision
of this Agreement shall be judicially determined to be invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired thereby.

 

    	17

     

    

 

Section
6.09SPECIFIC PERFORMANCE. THE PARTIES HERETO AGREE THAT IRREPARABLE DAMAGE WOULD OCCUR IN THE EVENT THAT
ANY OF THE PROVISIONS OF THIS AGREEMENT WERE NOT PERFORMED IN ACCORDANCE WITH ITS SPECIFIC INTENT OR WERE OTHERWISE BREACHED.
IT IS ACCORDINGLY AGREED THAT THE PARTIES SHALL BE ENTITLED TO AN INJUNCTION OR INJUNCTIONS, WITHOUT BOND, TO PREVENT OR CURE
BREACHES OF THE PROVISIONS OF THIS AGREEMENT AND TO ENFORCE SPECIFICALLY THE TERMS AND PROVISIONS HEREOF, THIS BEING IN ADDITION
TO ANY OTHER REMEDY TO WHICH THEY MAY BE ENTITLED BY LAW OR EQUITY, AND ANY PARTY SUED FOR BREACH OF THIS AGREEMENT EXPRESSLY
WAIVES ANY DEFENSE THAT A REMEDY IN DAMAGES WOULD BE ADEQUATE.

 

Section
6.10No Consequential or Punitive Damages. Notwithstanding
anything else contained herein, no Party shall seek, nor shall any Party be liable for, consequential, punitive or exemplary damages,
under any tort, contract, equity, or other legal theory, with respect to any breach (or alleged breach) of this Agreement or any
provision hereof or any matter otherwise relating hereto or arising in connection herewith, other than for any punitive damages
actually ordered by a Governmental Entity and thereafter finally paid.

 

Section
6.11Consents. Any permission,
consent, or approval of any kind or character under this Agreement shall be in writing and shall be effective only to the extent
specifically set forth in such writing.

 

Section
6.12Construction of Agreement. No provision of this Agreement shall be construed against either Party as
the drafter thereof.

 

[Remainder
of page intentionally left blank. Signature pages to follow]

 

    	18

     

    

 

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed effective as of the Closing Date.

 

	 	fuboTV
    Inc.
	 	 	 
	 	By:	 
	 	Name:	Gina
    Sheldon
	 	Title:	General
    Counsel
	 	 	 
	 	[                ]
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	19

     

    

 

Exhibit
A

Warrant

 

(Attached)EX-4.3

 Exhibit 4.3 

SSR MINING INC. 
 (the
“Company”) 
 SSR MINING INC. 2020 SHARE COMPENSATION PLAN 

(as approved by the directors of the Company on the 18th day of March, 2020 and 

confirmed by the shareholders of the Company on the 14th day of May, 2020) 

Article 1. 
 PURPOSE
OF THIS PLAN 
 This Plan is intended to advance the interests of the Company and its shareholders by attracting, retaining and
motivating the performance of selected Eligible Persons of high caliber and potential upon whose judgement, initiative and effort the Company is largely dependent for the successful conduct of its business, and to encourage and enable such Eligible
Persons to acquire and retain an equity interest in the Company. 
 Article 2. 

DEFINITIONS 
  

	2.1	 Definitions. In this Plan, unless there is something in the subject matter or context inconsistent
therewith, capitalized words and terms have the following meanings: 

  

	 	(a)	 “2017 Plan” means the Company’s 2017 Share Compensation Plan, as approved by the
directors of the Company on the 22nd day of March, 2017 and confirmed by the shareholders of the Company on the 4th day of May, 2017 and amended by the directors of the Company on the 15th day of December, 2017; 

 

	 	(b)	 “Administrator” means the Corporate Secretary of the Company or such other director or
other senior officer or employee of the Company as may be designated as Administrator by the Board from time to time; 

  

	 	(c)	 “Affiliate” has the meaning ascribed thereto in the Business Corporations Act
(British Columbia); 

  

	 	(d)	 “Aggregate Plans” means this Plan and all of the Company’s other security based
compensation arrangements that provide for the issuance from treasury or potential issuance by the Company out of its authorized and unissued Common Shares, including, for the avoidance of doubt, the 2017 Plan; 

 

	 	(e)	 “Applicable Options” has the meaning ascribed thereto in Section 11.3(a)(i);

  

	 	(f)	 “Applicable Restricted Share Units” has the meaning ascribed thereto in
Section 11.3(b)(i); 

  

	 	(g)	 “Award” means any Option, Restricted Share Unit or Performance Share Unit granted under
this Plan; 

	 	(h)	 “Blackout Period” means an interval of time during which the Company has determined that
one or more Participants may not trade securities of the Company because they may be in possession of undisclosed material information pertaining to the Company; 

 

	 	(i)	 “Board” means the board of directors of the Company, as constituted from time to
time; 

  

	 	(j)	 “Business Combination” has the meaning ascribed thereto in Section 2.1(n);

  

	 	(k)	 “Business Day” means a day other than a Saturday, Sunday or other day on which commercial
banks in Vancouver, British Columbia are authorized or required by law to close; 

  

	 	(l)	 “Cashless Exercise Sale Price” means the volume weighted average sale price received by the
Company upon the sale of Common Shares to cover the Exercise Price of Options that are being exercised pursuant to Section 8.5; 

  

	 	(m)	 “Cause” means “Cause”, or an analogous term, as defined in the employment,
engagement or consulting agreement, if any, between the relevant Participant and the Company or a Related Entity of the Company and, if there is no such definition or agreement, means any of the following: 

 

	 	(i)	 a breach by the Participant of a material term of the applicable employment, engagement or consulting
agreement (if any); 

  

	 	(ii)	 the repeated and demonstrated failure by the Participant to perform the material duties of his position in a
competent manner; 

  

	 	(iii)	 the conviction of the Participant for a criminal offence involving fraud or dishonesty, or which otherwise
adversely impacts the reputation of the Company or a Related Entity of the Company; 

  

	 	(iv)	 failure of the Participant to act honestly or in the best interest of the Company or a Related Entity of the
Company; 

  

	 	(v)	 failure of the Participant to comply with any Company rules or policies of a material nature;

  

	 	(vi)	 failure of the Participant to obey reasonable instructions provided by him in the course of employment,
within five calendar days after receiving written notice of such disobedience from the Company or a Related Entity of the Company; or 

  

	 	(vii)	 any actions or omissions on the part of the Participant constituting gross misconduct or negligence
resulting in a risk of material harm to the Company or a Related Entity of the Company; 

  
 2 

	 	(n)	 “Change of Control” means, except as otherwise provided herein with respect to Awards to
U.S. Participants, the occurrence of one or more of the following events: 

  

	 	(i)	 individuals who, as of the Effective Date, constitute the Board (the “Incumbent Directors”)
cease for any reason to constitute at least a majority of the Board, provided that any person becoming a director after the Effective Date and whose election or nomination for election was approved by a vote of at least a majority of the Incumbent
Directors then on the Board shall be an Incumbent Director; provided, however, that no individual initially elected as a director of the Company as a result of an actual or threatened election contest with respect to the election or removal of
directors (“Election Contest”) or other actual or threatened solicitation of proxies or consents by or on behalf of any person other than the Board, including by reason of any agreement intended to avoid or settle any Election
Contest or proxy contest, shall be deemed an Incumbent Director; 

  

	 	(ii)	 any change in the holding, direct or indirect, of shares in the capital of the Company as a result of which
a person or group of persons acting jointly or in concert, or person associated or affiliated with any such person or group within the meaning of the Securities Act (British Columbia), becomes the beneficial owner, directly or indirectly, of
shares and/or other securities in excess of the number which, directly or following conversion thereof, would entitle the holder thereof to cast more than 50% of the voting rights attaching to all shares of the Company which may be cast to elect
directors of the Company (the “Company Voting Securities”), provided, however, that the events described in this paragraph (ii) shall not be deemed to be a Change of Control by virtue of any of the following acquisitions of
Company Voting Securities: 

  

	 	A.	 by the Company or a subsidiary; 

 

	 	B.	 by any employee benefit plan sponsored or maintained by the Company or any subsidiary;

  

	 	C.	 by any underwriter temporarily holding securities pursuant to an offering of such securities;

  

	 	D.	 pursuant to a Non-Qualifying Transaction (as defined below); or

  

	 	E.	 from the Company pursuant to a transaction (other than one described in (iii) below), if a majority of
the Incumbent Directors approve a resolution providing expressly that the acquisition pursuant to this clause shall not constitute a Change of Control; 

  

	 	(iii)	 the consummation of a merger, consolidation, share exchange or similar form of corporate transaction
involving the Company or any of its subsidiaries (a “Business Combination”), unless immediately following such Business Combination: 

  
 3 

	 	A.	 Company Voting Securities that were outstanding immediately prior to the consummation of such Business
Combination (or, if applicable, securities into or for which such Company Voting Securities were converted or exchanged pursuant to such Business Combination) represent more than 50% of the combined voting power of the then outstanding securities
eligible to vote for the election of directors or trustees (“voting power”) of (1) the entity resulting from such Business Combination (the “Surviving Entity”), or (2) if applicable, the ultimate parent
entity that directly or indirectly has beneficial ownership of 100% of the voting securities eligible to elect directors of the Surviving Entity (the “Parent Entity”); 

 

	 	B.	 no person (other than any employee benefit plan sponsored or maintained by the Surviving Entity or the
Parent Entity) is the beneficial owner, directly or indirectly, of 50% or more of the voting power of the Parent Entity (or, if there is no Parent Entity, the Surviving Entity); and 

 

	 	C.	 at least a majority of the members of the board of directors of the Parent Entity (or, if there is no Parent
Entity, the Surviving Entity) were Incumbent Directors at the time of the Board’s approval of the execution of the initial agreement providing for such Business Combination; 

(any Business Combination which satisfies all of the criteria specified in (A), (B) and (C) above shall be deemed to be a
“Non-Qualifying Transaction”); 
  

	 	(iv)	 the approval by the Board or shareholders of the Company of a complete liquidation or dissolution of the
Company; 

  

	 	(v)	 a sale or other disposition of all or substantially all of the property or assets of the Company, other than
to an Affiliate or pursuant to a Non-Qualifying Transaction; or 

  

	 	(vi)	 any determination by the majority of Incumbent Directors of the Company that a Change of Control has
occurred. 

  

	 	(o)	 “Closing Price” of Common Shares at any relevant date means the closing trading price of
the Common Shares on the TSX (or any other Stock Exchange on which the majority of the volume of trading of the Common Shares has occurred over the relevant period) on the last Trading Day immediately preceding such date; provided that, if the
Common Shares are not listed and posted for trading on any Stock Exchange at the time such calculation is to be made, the “Closing Price” shall be the market price of a Common Share as determined by the Board in good faith;

  

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

  
 4 

	 	(q)	 “Committee” means the Compensation Committee of the Board, or such other committee or
Persons (including, in the absence of a committee, the Board) as may be designated from time to time to administer this Plan; 

  

	 	(r)	 “Common Shares” means the common shares without par value in the capital of the Company as
constituted on the Effective Date, provided that if the rights of any Participant are subsequently adjusted pursuant to Article 14 hereof, “Common Shares” thereafter means the shares or other securities or property which such
Participant is entitled to purchase or receive, pursuant to this Plan, after giving effect to such adjustment; 

  

	 	(s)	 “Company” means SSR Mining Inc. and includes any successor company thereto;

  

	 	(t)	 “Company Voting Securities” has the meaning ascribed thereto in Section 2.1(n);

  

	 	(u)	 “Control” has the meaning ascribed thereto in Section 2.23 of National Instrument 45-106 – Prospectus Exemptions; 

  

	 	(v)	 “Disability” means, in the case of a Participant who is a member of a long-term disability
plan of the Company or an Affiliate of the Company, the Participant’s physical or mental long-term inability to substantially fulfill his duties and responsibilities on behalf of the Company or, if applicable, an Affiliate of the Company in
respect of which the Participant commences receiving, or is eligible to receive, long-term disability benefits under such long-term disability plan of the Company or an Affiliate of the Company and, in the case of a Participant who is not a member
of a long-term disability plan of the Company or an Affiliate of the Company, a physical or mental impairment that prevents the Participant from engaging in any employment for which the Participant is reasonably suited by virtue of the
Participant’s education, training or experience and that can reasonably be expected to last for the remainder of the Participant’s lifetime, as determined by the Board. Notwithstanding the foregoing, for U.S. Participants Disability has
the meaning ascribed to it under Section 409A of the Code and applicable regulations. 

  

	 	(w)	 “Effective Date” has the meaning ascribed thereto in Section 4.1;

  

	 	(x)	 “Elected Redemption Date” means the date elected by a Participant, who is not a U.S.
Participant, pursuant to Section 9.12(a) or, as applicable, the date elected by a U.S. Participant pursuant to Section 9.12(b); 

  

	 	(y)	 “Election Contest” has the meaning ascribed thereto in Section 2.1(n);

  

	 	(z)	 “Eligible Person” means an Employee or a Service Provider of the Company or a Related
Entity of the Company; 

  

	 	(aa)	 “Employee” means an individual who is considered an employee under the Income Tax
Act (Canada) or any equivalent legislation in a jurisdiction in which the Company operates (i.e. for whom income tax, employment insurance and CPP deductions must be made at source); 

  
 5 

	 	(bb)	 “Exercise Price” means the price per Common Share at which a Participant may purchase
Common Shares pursuant to an Option, provided that if such price is adjusted pursuant to Section 14.1, “Exercise Price” thereafter means the price per Common Share at which such Participant may purchase Common Shares pursuant to such
Option after giving effect to such adjustment; 

  

	 	(cc)	 “Expiry Date” the date on which an Award expires; 

 

	 	(dd)	 “Good Reason” means “Good Reason”, or an analogous term, as defined in the
employment, engagement or consulting agreement, if any, between the relevant Participant and the Company or an Affiliate of the Company and, if there is no such definition or agreement, “Good Reason” will arise within twelve
(12) months following a Change of Control where the Participant was induced by the actions of the employer to resign or terminate their employment or engagement other than on a purely voluntary basis as a result of the occurrence of one or more
of the following events without the Participant’s written consent, such resignation to be effective only if the Participant has provided written notice of such occurrence to the employer immediately upon occurrence of such an event and the
employer has not corrected such occurrence within a thirty (30) day period: 

  

	 	(i)	 a materially adverse change in the Participant’s position, duties or responsibilities,

  

	 	(ii)	 a materially adverse change in the Participant’s reporting relationship that is inconsistent with the
Participant’s title or position, 

  

	 	(iii)	 a reduction by the employer of the base salary of the Participant, 

 

	 	(iv)	 a material reduction by the employer in the aggregate level of health & welfare benefits made
available to the Participant, or 

  

	 	(v)	 the permanent relocation by the employer of the Participant’s principal office by more than eighty
(80) kilometers from the location where the Participant worked when the Change of Control occurred; 

  

	 	(ee)	 “Incumbent Director” has the meaning ascribed thereto in Section 2.1(n);

  

	 	(ff)	 “Insider” has the meaning ascribed thereto in the TSX Company Manual;

  

	 	(gg)	 “Legal Representative” has the meaning ascribed thereto in Section 8.4;

  

	 	(hh)	 “Market Price” of Common Shares at any relevant date means the volume weighted average
trading price of the Common Shares on the TSX (or any other Stock Exchange on which the majority of the volume of trading of the Common Shares has occurred over the relevant period) over the thirty Trading Days on which a board lot of Common Shares
was traded immediately preceding such date, calculated by dividing the total value of all such trades by the total volume of Common Shares so traded; provided that, if the Common Shares are not listed and posted for trading on any Stock Exchange at
the time such calculation is to be made, the “Market Price” shall be the market price of a Common Share as determined by the Board in good faith. For the purpose of Section 8.1 only, the Market Price shall be calculated using the five
Trading Days on which a board lot of Common Shares was traded immediately preceding such date rather than thirty Trading Days; 

  
 6 

	 	(ii)	 “Non-Qualifying Transaction” has the meaning
ascribed thereto in Section 2.1(n); 

  

	 	(jj)	 “Notice of Exercise” has the meaning ascribed thereto in Section 8.4;

  

	 	(kk)	 “Offer” means a bona fide arm’s length offer made to all holders of voting shares in
the capital of the Company to purchase, directly or indirectly, voting shares in the capital of the Company; 

  

	 	(ll)	 “Option Expiry Date” has the meaning ascribed thereto in Section 8.2;

  

	 	(mm)	 “Options” means stock options granted hereunder to purchase authorized but unissued
Common Shares from the Company pursuant to the terms and conditions hereof, as evidenced by a notice of award, and “Option” means any one of them; 

  

	 	(nn)	 “Outstanding Common Shares” at the time of any issuance of Common Shares or the grant of an
Award, means the number of Common Shares that are outstanding immediately prior to the share issuance or grant of Awards in question, on a non-diluted basis, or such other number as may be determined under the
applicable rules and regulations of all regulatory authorities to which the Company is subject, including any Stock Exchange; 

  

	 	(oo)	 “Parent Entity” has the meaning ascribed thereto in Section 2.1(n);

  

	 	(pp)	 “Participant” means an Eligible Person to whom an Award has been granted under this Plan;

  

	 	(qq)	 “Performance Percentage” has the meaning ascribed thereto in Section 9.6;

  

	 	(rr)	 “Performance Period” means a period, as determined by the Board in accordance with
Section 9.3, in respect of which a Participant may be or become entitled to receive any amount payable in respect of Performance Share Units; 

  

	 	(ss)	 “Performance Share Unit” means an unfunded and unsecured right granted to a Participant to
receive, upon the satisfaction of certain criteria, a Common Share or payment in accordance with the provisions of this Plan and includes any dividend equivalent Performance Share Units awarded to a Participant in respect of such Performance Share
Units; 

  

	 	(tt)	 “Person” means and includes any individual, corporation, limited partnership, general
partnership, joint stock company, limited liability corporation, unlimited liability company, joint venture, association, company, trust, bank, trust company, pension fund, business trust or other organization, whether or not a legal entity;

  
 7 

	 	(uu)	 “Plan” means this SSR Mining Inc. 2020 Share Compensation Plan, including all
Schedules hereto, as the same may from time to time be supplemented or amended and in effect; 

  

	 	(vv)	 “Prior Grants” has the meaning ascribed thereto in Section 16.8;

  

	 	(ww)	 “Redemption Date” means the date on which a Share Unit is redeemed; 

 

	 	(xx)	 “Redemption Notice” means a notice, submitted to the Company through its electronic
compensation plan system or in such other form designated by the Company, pursuant to which the Participant may elect to redeem Vested Share Units and select the percentage of such redeemed Share Units that are to be redeemed for Common Shares
issued from treasury; 

  

	 	(yy)	 “Regulatory Authority” means a Stock Exchange and all securities commissions or similar
securities regulatory authorities having jurisdiction over the Company; 

  

	 	(zz)	 “Related Entity” means an Affiliate or a “subsidiary” of the Company as defined
in the Business Corporations Act (British Columbia); 

  

	 	(aaa)	 “Restricted Share Unit” means an unfunded and unsecured right granted to a Participant to
receive one or more Common Shares or payments in accordance with the provisions of this Plan and includes any dividend equivalent Restricted Share Units awarded to a Participant in respect of such Restricted Share Units; 

 

	 	(bbb)	 “Retires” or “Retirement” means the resignation of an Eligible Person
which the Board, in its sole discretion, determines to treat as a retirement, including subject to any conditions imposed by the Board; 

  

	 	(ccc)	 “Securities Act” means the Securities Act (British Columbia), as amended from time
to time; 

  

	 	(ddd)	 “Separation from Service” means separation from service as such term is defined under
Section 409A of the Code; 

  

	 	(eee)	 “Service Provider”, as set out in section 613 of the TSX Company Manual, means a person or
company engaged by the Company to provide services for an initial, renewable or extended period of twelve months or more and, for greater certainty, does not include an Employee; 

 

	 	(fff)	 “Share Unit Account” has the meaning ascribed thereto in Section 9.8;

  

	 	(ggg)	 “Share Units” means Performance Share Units and Restricted Share Units, as applicable, and
“Share Unit” means any one of them; 

  

	 	(hhh)	 “Share Unit Expiry Date” has the meaning ascribed thereto in Section 9.11;

  

	 	(iii)	 “Stock Exchange” means the TSX and the NASDAQ Stock Market, and any other stock exchange on
which the Common Shares are listed or posted for trading; 

  
 8 

	 	(jjj)	 “Surviving Entity” has the meaning ascribed thereto in Section 2.1(n);

  

	 	(kkk)	 “Target Milestones” means performance targets determined pursuant to
Section 9.4; 

  

	 	(lll)	 “Termination Date” means: 

 

	 	(i)	 in the case of a Participant who is not a U.S. Participant, the Participant’s last day of active
employment with the Company or a Related Entity of the Company or last active day as a Service Provider with the Company or a Related Entity, provided that, if such day is not a Trading Day, the Termination Date shall be the Trading Day immediately
preceding such day, notwithstanding Section 3.1(f); and 

  

	 	(ii)	 in the case of a U.S. Participant, the date on which the U.S. Participant experiences a Separation from
Service. 

 For greater certainty, the determination of the Termination Date of a Participant shall not
include any period of statutory, contractual or reasonable notice of termination of employment or any period of salary continuance or deemed employment; 
  

	 	(mmm)	 “Trading Day” means any date on which the Stock Exchange is open for the trading of Common
Shares and on which at least a board lot of Common Shares is traded, provided that, if the Common Shares are listed on more than one Stock Exchange, “Trading Day” means any date on which the Stock Exchange on which the majority of
the Company’s trading occurs is open for the trading of Common Shares and on which at least a board lot of Common Shares is traded; 

  

	 	(nnn)	 “TSX” means the Toronto Stock Exchange; 

 

	 	(ooo)	 “U.S. Participant” means an Eligible Person who is a U.S. citizen or a U.S. resident, in
each case as defined in Section 7701(a)(3)(A) and Section 7701(b)(1)(A) of the Code; 

  

	 	(ppp)	 “Vested Performance Share Units” has the meaning ascribed thereto in Section 9.7;

  

	 	(qqq)	 “Vested Restricted Share Units” has the meaning ascribed thereto in Section 9.1;

  

	 	(rrr)	 “Vested Share Units” means Vested Performance Share Units and Vested Restricted Share
Units, as applicable, and “Vested Share Unit” means any one of them; 

  

	 	(sss)	 “Vesting Date” means: 

 

	 	(i)	 each date on which Options granted to a Participant vest as determined by the Board, in its sole discretion,
in accordance with Section 8.3; 

  

	 	(ii)	 for Performance Share Units granted to a Participant, the date on which the Performance Period ends; and

  
 9 

	 	(iii)	 each date on which Restricted Share Units granted to a Participant vest as determined by the Board, in its
sole discretion, in connection with such grant; and 

  

	 	(ttt)	 “voting power” has the meaning ascribed thereto in Section 2.1(n).

 Article 3. 

INTERPRETATION 
  

	3.1	 Interpretation. In this Plan, except as otherwise expressly provided: 

 

	 	(a)	 any reference in this Plan to a designated “Article”, “Section” or other subdivision or
Schedule is a reference to the designated Article, Section or other subdivision of or Schedule to this Plan; 

  

	 	(b)	 the words “herein”, “hereof” and “hereunder” and other words of similar import
refer to this Plan as a whole and not to any particular Article, Section or other subdivision of, or Schedule to, this Plan; 

  

	 	(c)	 the headings are for convenience only and do not form a part of this Plan and are not intended to interpret,
define or limit the scope, extent or intent of this Plan; 

  

	 	(d)	 words importing the singular number only shall include the plural and vice versa and words importing the use
of any gender shall include any other gender, the word “or” is not exclusive and the word “including” is not limiting whether or not non-limiting language (such as “without
limitation” or “but not limited to” or words of similar import) is used with reference thereto; 

  

	 	(e)	 unless otherwise provided, all amounts are stated in Canadian dollars and are to be paid in Canadian
dollars, U.S. dollars or any other currency that is accepted as legal tender in the countries in which the Company operates; and 

  

	 	(f)	 where the time for doing an act falls or expires on a day which is not a Business Day, the time for doing
such act is extended to the next Business Day. 

 Article 4. 

EFFECTIVE DATE OF PLAN 
  

	4.1	 Effective Date of this Plan. The effective date (the “Effective Date”) of
this Plan is May 14, 2020, the date on which this Plan was approved by the shareholders of the Company. 

  

	4.2	 Three Year Shareholder Approval. In accordance with the requirements of the TSX, any unallocated
Awards under the rolling 6.5% maximum allowed under Section 6.1 will require the further approval of the Board and shareholders of the Company at least once during each three (3) year period that has elapsed from the Effective Date.

  
 10 

 Article 5. 

ADMINISTRATION OF PLAN 
  

	5.1	 Administration of Plan. This Plan shall be administered by the Board, taking into
consideration any recommendations from the Committee. Subject to the provisions of this Plan, applicable laws and any approvals required of any regulatory authorities to which the Company is subject, including any Stock Exchange, the Board shall
have the power and authority to make all decisions relating to the administration and implementation of this Plan including, without limitation, determining the types and number of Awards to be granted and the terms of such Awards. Unless otherwise
expressly provided in this Plan, all designations, determinations, interpretations and other decisions under or with respect to this Plan or any Award are within the sole discretion of the Board and may be made at any time. Such designations,
determinations, interpretations and other decisions shall be final, conclusive and binding upon any Eligible Person and any holder or beneficiary of any Award. 

 

	5.2	 Delegation. Subject to applicable laws and the rules of any regulatory authorities to which the
Company is subject, including the Stock Exchange, the Board may delegate to the Committee or any director, officer or employee of the Company such duties and powers of the Board relating to this Plan as it may see fit. To the extent the Board has
delegated any such duties and powers to the Committee or any such individual then all references in this Plan to the Board shall be read as the Committee or any such individual, as applicable, to the extent such reference relate to the duties and
powers that have been so delegated. 

 Article 6. 

COMMON SHARES AVAILABLE FOR AWARDS 
  

	6.1	 Common Shares Available. Subject to Section 6.2 and to adjustment as provided in
Article 14, the aggregate number of Common Shares that may be issuable pursuant to the Aggregate Plans, shall not at any time exceed 6.5% of the then Outstanding Common Shares. 

 

	6.2	 Common Shares Available for Full-Value Awards. For the purposes of Section 6.1,
and subject to Section 6.3, the aggregate number of Common Shares that may be issuable pursuant to Share Units awarded under this Plan shall not at any time exceed 2.2% of the then Outstanding Common Shares, and no Share Unit may
be granted if such grant would have the effect of causing the total number of Common Shares potentially issuable in respect of Share Units to exceed the percentage set out above in this Section 6.2. 

 

	6.3	 Other Accounting for Award. Any Common Shares related to an Award which has been
exercised or which terminates by expiration, forfeiture, cancellation or otherwise without the issuance of such Common Shares shall again be available for issuance under this Plan. Common Shares shall not be deemed to have been issued pursuant to
this Plan with respect to any portion of an Award that is settled in cash or by delivery to a Participant of Common Shares purchased through the facilities of any Stock Exchange, in accordance with the terms of this Plan. 

 

	6.4	 Reservation of Shares. The Board will reserve for allotment, from time to time, out of the authorized
but unissued Common Shares, sufficient Common Shares to provide for issuance of all Common Shares which are issuable under all outstanding Awards. 

  

	6.5	 No Fractional. No fractional Common Shares may be purchased or issued under this Plan.

  
 11 

 Article 7. 

GRANT OF AWARDS 
  

	7.1	 Eligible Persons. Subject to the rules set out below, the Board may, from time to time, grant to any
Eligible Person one or more Awards, as the Board deems appropriate, in its sole discretion. A Participant, who holds any Award at the time of the granting of a subsequent Award, may hold more than one type of Award. 

 

	7.2	 Date Award Granted. The date on which an Award will be deemed to have been granted
under this Plan will be the date on which the Board authorizes the grant of such Award or such future date as specified by the Board at the time the grant of such Award is authorized. 

 

	7.3	 Number of Common Shares / Maximum Grant. The number of Common Shares that may be
purchased under any Award, or the amount of any Award that shall be granted in any form that may result in the issuance of Common Shares, will be determined and fixed by the Board at the date of grant, provided that: 

 

	 	(a)	 the number of Common Shares reserved for issuance to any one Participant pursuant to the Aggregate Plans
within any one (1) year period shall not, in aggregate, exceed 5% of the total number of Outstanding Common Shares; and 

  

	 	(b)	 the number of Common Shares: 

 

	 	(i)	 issuable, at any time, to Participants that are Insiders, and 

 

	 	(ii)	 issued to Participants that are Insiders within any one (1) year period, 

pursuant to the Aggregate Plans shall not, in aggregate, exceed 5% of the total number of Outstanding Common Shares. 

For the purposes of this Section 7.3, Common Shares issued pursuant to an entitlement granted prior to the grantee
becoming an Insider may be excluded in determining the number of Common Shares issuable to Insiders. 
  

	7.4	 No Certificates. No certificates shall be issued with respect to Awards. All records relating to the
Awards shall be maintained in the Company’s electronic compensation plan system. 

 Article 8. 

OPTIONS 
  

	8.1	 Exercise Price. The Exercise Price per Common Share under each Option shall not be less
than the greater of the Market Price of the Common Shares at the time of grant and the Closing Price of the Common Shares at the time of grant. Notwithstanding anything else contained herein, in no case will the Exercise Price per Common Share under
each Option be less than the minimum prescribed by any Stock Exchange at the time of grant. 

  
 12 

	8.2	 Term of Options. Subject to Article 11 and Section 13.1, the Expiry Date for each
Option will be the date determined by the Board and specified in the notice of award pursuant to which such Option is granted (the “Option Expiry Date”), provided that such date may not be later than the earlier of: (i) the
date which is the seventh (7th) anniversary of the date on which such Option is granted, and (ii) the latest date permitted under the applicable rules and regulations of all regulatory
authorities to which the Company is subject, including any Stock Exchange. 

  

	8.3	 Vesting and Other Restrictions. Subject to the terms and conditions of this Plan, the
Board shall, in its sole discretion, determine the Vesting Dates and the proportion of Options to vest on each such Vesting Date applicable to each award of Options at the time of such award. Unless otherwise specified herein or determined by the
Board, Options granted to a Participant shall vest, as to one-third of the number of such Options, on each of the first, second and third anniversaries of the date of grant, subject to the Participant
continuing to be an Eligible Person. 

  

	8.4	 Exercise of Options. Each Option granted under this Plan may be exercised only by
notice (“Notice of Exercise”) submitted to the Company through its electronic compensation plan system, or in such other form designated by the Company and signed by the Participant, or the legal representative or committee or
attorney, as the case may be (the “Legal Representative”), of the Participant, and delivering to the Administrator full payment for an amount equal to the aggregate Exercise Price of the Common Shares being purchased. Such
consideration may be paid in any combination of the following: 

  

	 	(a)	 bank draft or certified cheque payable to the Company; or 

 

	 	(b)	 such other consideration as the Board may permit, consistent with applicable laws. 

As soon as practicable after any exercise of an Option, the Company shall issue to the Participant the Common Shares in respect
of which such Option is exercised. 
  

	8.5	 Cashless Exercise. Notwithstanding any other provision of the Plan, unless otherwise
determined by the Board, in its sole discretion, a Participant may elect “cashless” exercise in a Notice of Exercise. In such case, the Participant will not be required to deliver to the Company the bank draft or certified cheque referred
to in Section 8.4(a). Instead, the number of Common Shares to be issued or otherwise provided to the Participant upon such election is the number obtained: by dividing (a) the difference between (i) the difference between the Cashless
Exercise Sale Price and the Exercise Price, multiplied by the number of Common Shares in respect of which the Option would otherwise be exercised upon payment of the aggregate Exercise Price and (ii) all applicable fees incurred by the Company
in connection with the cashless exercise, by (b) the Cashless Exercise Sale Price. Upon any such election, the Company may, instead of issuing or otherwise providing to the Participant the number of Common Shares calculated in accordance with
the preceding sentence, pay the Participant by cheque the amount of money calculated in accordance with clause (a). 

  
 13 

	8.6	 U.S. Provisions. Any adjustment to or amendment of an outstanding Option granted to a
U.S. Participant (including, but not limited to, amendments or adjustments contemplated under Article 15 or Article 14 with respect to the exercise price and number of Common Shares subject to an Option, and adjustments with respect to extension of
the term of an Option, and any other amendments or adjustments otherwise permitted pursuant to Section 5.1) will be made so as to comply with, and not create any adverse consequences under, Section 409A of the Code. 

Article 9. 
 SHARE
UNIT AWARDS 
 Restricted Share Unit Award 
  

	9.1	 Vesting Provisions. The Board shall, in its sole discretion, determine the Vesting
Dates and the proportion of Restricted Share Units to vest on each such Vesting Date applicable to each grant of Restricted Share Units at the time of such grant. Unless otherwise specified herein or determined by the Board, Restricted Share Units
granted to a Participant shall vest, as to one-third of the number of such Restricted Share Units, on each of the first, second and third anniversaries of the date on which they were granted, subject to the
Participant continuing to be an Eligible Person. Dividend equivalent Restricted Share Units awarded to Participants under Section 9.10 shall vest with the Restricted Share Units in respect of which they were credited to the Participant’s
Share Unit Account. Except where the context requires otherwise, the Restricted Share Units which have so vested shall be referred to herein as “Vested Restricted Share Units”. 

 

	9.2	 Vesting During Continued Eligibility. Subject to Article 11 and Article 15, Restricted Share
Units granted to a Participant shall vest on the Vesting Dates, in accordance with the provisions of this Article 9, provided the Participant remains an Eligible Person on the applicable Vesting Date. 

Performance Share Unit Award 
  

	9.3	 Performance Period. The Board shall, in its sole discretion, determine the Performance
Period applicable to each grant of Performance Share Units at the time of such grant. Unless otherwise specified by the Board, the Performance Period applicable to a grant of Performance Share Units shall be a period of 36 months commencing on the
1st of January and ending on December 31st. 

  

	9.4	 Determination of Target Milestones. The Target Milestones for each Performance Period shall be
determined by the Board, in its sole discretion, based on measurable performance criteria established by the Board in advance. Unless otherwise determined by the Board the Target Milestones for each Performance Share Unit shall be as set forth in
Schedule “A”. 

  

	9.5	 Vesting During Eligibility. Subject to Article 11 and Article 15, Performance Share
Units granted to a Participant shall vest on the Vesting Date in accordance with this Article 9, provided the Participant remains an Eligible Person on the applicable Vesting Date. 

  
 14 

	9.6	 Determination of Performance Percentage. The performance achievement of the Target
Milestones for an applicable Performance Period shall be determined by assigning a percentage from 0 per cent to 200 percent (or such other range as the Board may determine from time to time) reflecting such performance (the
“Performance Percentage”). 

  

	9.7	 Vesting of Performance Share Units Based on Performance Percentage. Unless otherwise
determined by the Board, and subject to Article 11, the number of Performance Share Units granted to the Participant which shall vest on the Vesting Date shall be calculated by multiplying (a) the aggregate number of such Performance Share
Units by (b) the Performance Percentage. Except where the context requires otherwise, the Performance Share Units which have so vested shall be referred to herein as “Vested Performance Share Units”. 

Share Unit Account 
  

	9.8	 Share Unit Account. An account, to be known as a “Share Unit Account”,
shall be maintained by the Company for each Participant and shall be credited with such Share Units that are granted to the Participant. 

  

	9.9	 Cancellation of Share Units that Fail to Vest or Are Redeemed. Share Units that fail to vest or be
redeemed in accordance with this Article 9 or Article 11 shall be cancelled and shall cease to be recorded in the Share Unit Account of the relevant Participant as of the date on which such Share Units are forfeited or redeemed, as the case may be,
and the Participant will have no further right, title or interest in or to such Share Units. 

  

	9.10	 Dividends. Whenever cash dividends are paid on the Common Shares, additional Share Units will
be credited to a Participant’s Share Unit Account in accordance with this Section 9.10. The number of such additional Restricted Share Units and/or Performance Share Units, as the case may be, to be so credited will be calculated by
dividing (a) the cash dividends that would have been paid to such Participant if the Share Units recorded in the Participant’s Share Unit Account as at the record date for the dividend had been Common Shares by (b) the Closing Price
on the Trading Day immediately preceding the date on which the Common Shares began to trade on an ex-dividend basis, rounded down to the next whole number of Share Units. The additional Share Units granted to
a Participant shall be subject to the same terms and conditions, including vesting and settlement terms, as the corresponding Restricted Share Units or Performance Share Units, as the case may be. No fractional Share Units will thereby be created.

 Expiry and Redemption of Share Units 
  

	9.11	 Term of Share Units. Subject to Article 11 and Section 13.2, the Expiry Date for
each Share Unit will be the date determined by the Board and specified in the notice of award pursuant to which such Share Unit is granted (the “Share Unit Expiry Date”), provided that such date may not be later than the earlier of:
(i) the date which is the tenth (10th) anniversary of the date on which such Share Unit is granted, and (ii) the latest date permitted under the applicable rules and regulations of all
regulatory authorities to which the Company is subject, including any Stock Exchange. 

  
 15 

	9.12	 Elected Redemption Date Notice. Except to the extent the award of a Share Unit specifies that
redemption will automatically occur on a date prior to the Expiry Date, participants shall elect, by submitting a Redemption Notice, an Elected Redemption Date for Share Units as follows: 

 

	 	(a)	 Participants that are not U.S. Participants may elect at any time to redeem Vested Share Units on any date
or dates after the date the Share Units become Vested Share Units and on or before the Expiry Date; and 

  

	 	(b)	 U.S. Participants may irrevocably elect to have Vested Share Units redeemed on a fixed date or dates after
the date the Share Units become Vested Share Units and on or before the Expiry Date provided that such election must be irrevocably made prior to the earlier of: (i) receipt by the U.S. Participant of each award of Share Units; and
(ii) the first day of the taxable year of the U.S. Participant in which the Performance Period, or other period over which the awards is to be earned and vests, begins. For this purpose a “fixed date” may include any permissible
payment event under Section 409A of the Code, for example, Separation from Service or a Change of Control (if also a change of control for purposes of Section 409A of the Code). 

If a Participant who is not a U.S. Participant does not elect an Elected Redemption Date in respect of an award of Share Units
in accordance with Section 9.12(a), the Share Units shall be redeemed on the Expiry Date in accordance with Section 9.13. If a U.S. Participant does not timely elect an Elected Redemption Date in respect of an award of Share Units in
accordance with Section 9.12(b), the Vesting Date shall be deemed to be the Elected Redemption Date and the Share Units shall be redeemed in accordance with Section 9.13. 

 

	9.13	 Redemption of Share Units. The Company shall redeem the Vested Share Units elected to
be redeemed by the Participant on the earlier of (i) within fifteen Business Days of the Elected Redemption Date and (ii) the date set out in Article 11 or Section 12.1, if applicable, by, subject to Section 10.5, at the election
of the Participant in the Redemption Notice, issuing to the Participant the number of Common Shares equal to the number of Vested Share Units elected to be redeemed. If the Participant does not elect in the Redemption Notice to have the Vested Share
Units redeemed by the issuance of Common Shares then, at the Board’s sole discretion, the Vested Share Units shall be redeemed on the earlier of (i) within fifteen Business Days of the Elected Redemption Date and (ii) the date set out
in Article 11 or Section 12.1, if applicable, by, subject to Section 10.5: (i) issuing to the Participant the number of Common Shares equal to the number of Vested Share Units elected to be redeemed; (ii) paying the Participant a cash
amount equal to the Market Price of such Vested Share Units on the Redemption Date; or (iii) purchasing on the open market the number of Common Shares equal to the number of Vested Share Units to be redeemed for delivery to the Participant.
Notwithstanding the foregoing or any other provision in the Plan, if Share Units held by a U.S. Participant will be redeemed as a result of the U.S. Participant’s Separation from Service, and such U.S. Participant is a Specified Employee as
defined under Section 409A of the Code and applicable regulations at the time of such Separation from Service, the redemption of Share Units that are subject to Section 409A of the Code will be delayed until a date that is six months and
one day following the date of the Separation from Service. 

  
 16 

 Article 10. 

GENERAL TERMS OF AWARDS 
  

	10.1	 Consideration for Awards. Awards may be granted for no cash consideration or for any cash or other
consideration as determined by the Board and required by applicable law. 

  

	10.2	 Notice of Award. The Company shall provide the applicable Eligible Person with a notice of an Award
promptly after it is granted. If required by the Company, the Eligible Person may be required to return an acknowledgement of such Award in such form as required by the Company. 

 

	10.3	 Awards May Be Granted Separately or Together. Awards may, in the discretion of the Board, be granted
alone, in addition to, or in tandem with, any other Award or any award granted under any plan of the Company or any Affiliate of the Company. Awards granted in addition to or in tandem with other Awards or in addition to or in tandem with awards
granted under any such other plan of the Company or any Affiliate of the Company may be granted either at the same time as or at a different time from the grant of such other Awards or awards. 

 

	10.4	 Forms of Payment under Awards. Subject to the terms of this Plan, payments or transfers
to be made by the Company or an Affiliate of the Company upon the grant, exercise or payment of an Award may be made in such form or forms as the Board shall determine (including, without limitation, cash in any currency that is accepted as legal
tender in the countries in which the Company operates, Common Shares, promissory notes, other securities, other Awards or other property, or any combination thereof), and may be made in a single payment or transfer, in instalments or on a deferred
basis, in each case in accordance with rules and procedures established by the Board. Such rules and procedures may include, without limitation, provisions for the payment or crediting of reasonable interest on instalment or deferred payments or the
grant or crediting of dividend equivalents with respect to instalment or deferred payments. Notwithstanding the foregoing, the settlement/pay out with respect to Share Units of U.S. Participants will not be accelerated or delayed unless such
acceleration or delay is permitted under applicable U.S. tax principles, including, but not limited to, Section 409A of the Code to the extent it is applicable. 

 

	10.5	 Withholding Tax. The Company or an Affiliate of the Company may take such reasonable
steps for the deduction and withholding of any taxes and other required source deductions which the Company or an Affiliate of the Company, as the case may be, is required by any law or regulation of any governmental authority whatsoever to
remit in connection with this Plan or the grant of any Options or Share Units or any issuance of Common Shares in relation thereto. Without limiting the generality of the foregoing, the Company may, at its discretion: 

 

	 	(a)	 deduct and withhold those amounts it is required to remit from any cash remuneration or other amount payable
to the Participant, whether or not related to this Plan, upon the exercise of any Options, the redemption of any Share Units or the issuance or transfer of any Common Shares in relation to this Plan; 

  
 17 

	 	(b)	 require the Participant to make a cash payment to the Company equal to the amount required to be remitted,
which amount shall be remitted by the Company to the appropriate governmental authority for the account of the Participant; or 

  

	 	(c)	 sell, or engage a broker to sell, on behalf of the Participant, that number of Common Shares to be issued or
transferred upon the exercise of Options or redemption of Share Units such that the amount withheld by the Company from the proceeds (net of selling costs) of such sale will be sufficient to satisfy any taxes required to be remitted by the Company
for the account of the Participant. 

 Where the Company considers that the steps undertaken in connection
with the foregoing result in inadequate withholding or a late remittance of taxes, the delivery of any Common Shares to be issued to a Participant pursuant to this Plan may be made conditional upon the Participant (or other Person) reimbursing or
compensating the Company or making arrangements satisfactory to the Company for the payment in a timely manner of all taxes required to be remitted for the account of the Participant. 

Each Participant or his or her Legal Representative, as the case may be, is solely responsible and liable for the satisfaction
of all taxes and penalties that may be imposed on or for the account of such Participant in connection with the Plan (including any taxes and penalties under section 409A of the Code or any applicable law), and neither the Company nor any Affiliate
of the Company shall have any obligation to indemnify or otherwise hold such Participant or the Participant’s Legal Representative harmless from any or all of such taxes or penalties. 

 

	10.6	 Restrictions, Stock Exchange Listing. All Common Shares or other securities delivered under this Plan
pursuant to any Award or the exercise thereof shall be subject to any restrictions or repurchase rights as the Board may deem advisable under this Plan, applicable securities laws and regulatory requirements, including the requirements of any Stock
Exchange, and applicable Canadian corporate laws, and the Board may direct appropriate restrictions or repurchase rights and cause legends to be placed on the certificates for such Common Shares or other securities to reflect such restrictions or
repurchase rights, as applicable. If the Common Shares or other securities are traded a Stock Exchange or Stock Exchanges, the Company shall not be required to deliver any Common Shares or other securities covered by an Award unless and until such
Common Shares or other securities have been admitted for trading on such Stock Exchange(s). 

  

	10.7	 Provisions Relating to Common Share Issuances. Each notice of award will contain such provisions, as
in the opinion of the Board, are required to ensure that no Common Shares are issued on the exercise or redemption of an Award, as applicable, unless the Board is satisfied that the issuance of such Common Shares will be exempt from all registration
or qualification requirements of applicable securities laws and will be permitted under the applicable rules and regulations of all regulatory authorities to which the Company is subject, including any Stock Exchange. In particular, if required by
any regulatory authority to which the Company is subject, including any Stock Exchange, a notice of award may provide that shareholder approval to the grant of an Award must be obtained prior to the exercise or redemption of the Award, as
applicable, or to the amendment of the notice of award. 

  
 18 

	10.8	 Compliance with Section 409A. It is intended that Share Units either will be
exempt from Section 409A of the Code, or will comply with the requirements of Section 409A of the Code and the provisions of this Plan and related notice of awards will be construed and administered accordingly. 

 

	10.9	 Change in Status. A change in the status, office, position or duties of a Participant from the
status, office, position or duties held by such Participant on the date on which the Award was granted to such Participant will not result in the termination of the Award granted to such Participant provided that such Participant remains an Eligible
Person. 

  

	10.10	 Non-Transferability of Awards. Awards are not
transferable or assignable. Awards may only be exercised by the Participant or in the event of: 

  

	 	(a)	 the death of the Participant (or, in the case of a Service Provider, the death of the principal in respect
of such Service Provider); or 

  

	 	(b)	 the appointment of a committee or duly appointed attorney of the Participant on the grounds that the
Participant is incapable, by reason of physical or mental infirmity, of managing their affairs (or, in the case of a Service Provider, the appointment of a committee or duly appointed attorney of the principal in respect of such Service Provider),

 by the Participant’s Legal Representative. 

 

	10.11	 No Interest. For greater certainty, no interest shall be payable to Participants in respect of any
amount payable under this Plan. 

  

	10.12	 Conditions. Notwithstanding any of the provisions contained in this Plan or in any
notice of award, the Company’s obligation to issue Common Shares to a Participant pursuant to the exercise of an Option, redemption of any Share Units or the granting of any Award will be subject to, if applicable: 

 

	 	(a)	 completion of such registration or other qualification of such Common Shares or obtaining approval of such
governmental authority as the Company will determine to be necessary or advisable in connection with the authorization, issuance or sale thereof; and 

  

	 	(b)	 the receipt from the Participant of such representations, agreements and undertakings, including as to
future dealings in such Common Shares, as the Company or its counsel determines to be necessary or advisable in order to safeguard against the violation of the securities laws of any jurisdiction. 

Article 11. 

CEASING TO BE AN ELIGIBLE PERSON 
  

	11.1	 Ceasing to be an Eligible Person. If a Participant ceases to be an Eligible Person (and, in the case
of any Participant who is a U.S. Participant, such U.S Participant experiences a Separation from Service) for any reason other than as set out in Sections 11.2 to 11.5 including, without limitation, as a result of such Participant’s resignation
(other than in circumstances described in Article 15) then: 

  
 19 

	 	(a)	 only the portion of the Option that is vested and exercisable as of the Termination Date may be exercised by
the Participant. Any such exercise must be during the period ending on the earlier of (i) thirty (30) days after the Termination Date and (ii) the Option Expiry Date, after which period the Option will expire. For greater certainty, any
portion of the Option that is unvested as of the Termination Date shall terminate on the Termination Date; 

  

	 	(b)	 all Vested Share Units shall be redeemed immediately in accordance with Section 9.13 and all unvested
Share Units shall be forfeited and cancelled and cease to be recorded in the Share Unit Account of the relevant Participant as of the Termination Date, and the Participant will have no further right, title or interest in or to such unvested Share
Units. 

  

	11.2	 Termination for Cause. If a Participant is terminated for Cause or a Participant’s
contract as a Service Provider is terminated by the Company or a Related Entity of the Company before its normal termination date for Cause, including where a Participant resigns from their employment or terminates their contract as a Service
Provider after being requested to do so by the Company or a Related Entity of the Company, as an alternative to being terminated for Cause, and as a result the Participant ceases to be an Eligible Person: 

 

	 	(a)	 then all Options held by such Participant (including those Options that have vested) shall terminate on the
Termination Date; 

  

	 	(b)	 all Vested Share Units and unvested Share Units shall be forfeited and cancelled and cease to be recorded in
the Share Unit Account of the relevant Participant as of the Termination Date, and the Participant will have no further right, title or interest in or to such Share Units. 

 

	11.3	 Termination without Cause. If a Participant ceases to be an Eligible Person (and, in the case of any
Participant who is a U.S. Participant, such U.S. Participant experiences a Separation from Service) as the result of such Participant being terminated as an Employee or Service Provider (prior to the expiry of their term of engagement) without Cause
(other than in circumstances described in Article 15): 

  

	 	(a)	 such portion of the Participant’s unvested Options shall vest immediately prior to the
Participant’s Termination Date, as determined by the formula (A*(B/C))—D where: 

  

	 	(i)	 A is the total number of Options (vested and unvested) that were granted on the same date pursuant to the
same notice of award as the unvested Options (the “Applicable Options”); 

  

	 	(ii)	 B is the number of completed months from the first day the unvested Options were granted to the Termination
Date; 

  
 20 

	 	(iii)	 C is the number of months from the date of grant of the Applicable Options to the latest Vesting Date of the
Applicable Options as approved by the Board; and 

  

	 	(iv)	 D is the total number of vested Applicable Options. 

The Expiry Date of all vested Options shall be the earlier of (i) ninety (90) days after the Termination Date and
(ii) the Option Expiry Date. For greater certainty, any portion of the Option that is unvested on the Termination Date shall terminate on the Termination Date; 
  

	 	(b)	 such portion of the Participant’s unvested Restricted Share Units shall vest immediately prior to the
Participant’s Termination Date, as determined by the formula (A*(B/C))—D where: 

  

	 	(i)	 A is the total number of Restricted Share Units (vested and unvested) that were granted on the same date
pursuant to the same notice of award as the unvested Restricted Share Units plus all and related dividend equivalent Restricted Share Units (vested and unvested) (the “Applicable Restricted Share Units”); 

 

	 	(ii)	 B is the number of completed months from the first day the unvested Restricted Share Units were granted to
the Termination Date; 

  

	 	(iii)	 C is the number of months from the date of grant of the Applicable Restricted Share Units to the latest
Vesting Date of the Applicable Restricted Share Units as approved by the Board; and 

  

	 	(iv)	 D is the total number of vested Applicable Restricted Share Units. 

All Vested Restricted Share Units shall be redeemed immediately in accordance with Section 9.13 and all unvested
Restricted Share Units on the Termination Date shall be forfeited and cancelled and cease to be recorded in the Share Unit Account of the relevant Participant as of the Termination Date, and the Participant will have no further right, title or
interest in or to such unvested Restricted Share Units; 
  

	 	(c)	 a pro rata portion of the Participant’s unvested Performance Share Units shall vest in accordance with
their terms, based on the product of (i) the product of (y) the number of completed months from the first day of the Performance Period to the Termination Date divided by the number of months in the Performance Period and (z) the
number of unvested Performance Share Units and (ii) the Performance Percentage. The Performance Percentage shall be determined at the end of the Performance Period using the same factors as if the Participant had remained an Eligible Person
until the scheduled vesting date for the Performance Share Units. All Vested Performance Share Units shall be redeemed immediately after the last day of the Performance Period pursuant to Section 9.13 and all unvested Performance Share Units on
the Termination Date that will not be vested in accordance with this Section 11.3(c) shall be forfeited and cancelled and cease to be recorded in the Share Unit Account of the relevant Participant on the Termination Date, and the Participant
will have no further right, title or interest in or to such unvested Performance Share Units. 

  
 21 

	11.4	 Death. If a Participant ceases to be an Eligible Person as a result of the Participant’s death
or if a Participant’s contract as a Service Provider is frustrated before its normal termination date due to death, then: 

  

	 	(a)	 all unvested Options will immediately vest on the Termination Date and the vested Options will continue to
be exercisable pursuant to Section 8.2 after the death of the Participant (or, in the case of a Service Provider that is not an individual, the death of the principal which results in the frustration of the Service Provider’s contract).
The exercise of all vested Options that were granted to the Participant must be effected by a Legal Representative of the Participant’s estate (or, in the case of a Service Provider that is not an individual, the Legal Representative of the
principal in respect of such Service Provider) or by a Person who acquires the Participant’s rights under the Options by bequest or inheritance, and such Options will expire on the earlier of (i) twelve (12) months after the Termination
Date and (ii) the Option Expiry Date; 

  

	 	(b)	 all unvested Share Units granted to the Participant shall vest on the Termination Date and the Termination
Date shall be the Vesting Date and all Vested Share Units shall be redeemed immediately pursuant to Section 9.13. The Performance Percentage for each Vested Performance Share Unit shall be 100. 

 

	11.5	 Retirement of Non U.S. Participants/Disability. If a Participant who is not a U.S. Participant
ceases to be an Eligible Person as a result of a Disability or Retirement or if such a Participant’s contract as a Service Provider is frustrated before its normal termination date due to a Disability or if a U.S. Participant experiences a
Disability then: 

  

	 	(a)	 all unvested Options shall continue to vest pursuant to their original terms for a period of three years
from the Termination Date. The Expiry Date for all Vested Options, including those Options that vest pursuant to the terms of this Section 11.5(a), shall be the period ending on the earlier of (i) three years after the Termination Date and
(ii) the Option Expiry Date, after which period the Options will expire; 

  

	 	(b)	 all unvested Share Units shall continue to vest pursuant to their original terms for a period of three years
from the Termination Date. The Expiry Date for all Vested Share Units shall be the earlier of (i) three years after the Termination Date or in the case of a U.S. Participant three years after the Disability or Separation from Service and
(ii) the Share Unit Expiry Date. The Performance Percentage for Performance Share Units that vest pursuant to this Section 11.5(b) shall be determined on the same basis as if the Participant continued to be an Eligible Person.

  
 22 

	11.6	 Retirement of U.S. Participants. If a U.S. Participant experiences a Separation from Service,
as a result of the U.S. Participant’s Retirement prior to the Vesting Date of any: 

  

	 	(a)	 Options awarded to the U.S. Participant, the Board shall determine whether, in respect of each grant
of Options, the Options, or any portion thereof, granted to such U.S. Participant shall vest on the Termination Date and in such case the Termination Date shall be the Vesting Date; and 

 

	 	(b)	 unvested Share Units awarded to the U.S. Participant, the Board shall have the discretion to determine that,
in respect of each grant of such Share Units, the Share Units, or a portion thereof, granted to such U.S. Participant shall vest on the Termination Date and in such case the Termination Date shall be the Vesting Date. If the Board determines that
any Performance Share Units should vest on the Termination Date then the Board shall determine the Performance Percentage to be applied based on factors determined by the Board in its discretion, including the objective measure of performance toward
achievement of the Target Milestones through to the Termination Date and such other factors as the Board determines appropriate in the circumstances. All Vested Restricted Share Units and Restricted Share Units that become vested pursuant to this
Section 11.6(b) shall be redeemed immediately in accordance with Section 9.13 and any unvested Restricted Share Units that do not become vested pursuant to this Section 11.6(b) shall be forfeited and cancelled and cease to be recorded
in the Share Unit Account of the relevant U.S. Participant as of the Termination Date, and the U.S. Participant will have no further right, title or interest in or to such unvested Restricted Share Units; and (ii) all Vested Performance Share
Units and Performance Share Units that become vested pursuant to this Section 11.6(b) shall be redeemed immediately after the last day of the Performance Period in accordance with Section 9.13 and any unvested Performance Share Units that
do not become vested pursuant to this Section 11.6(b) shall be forfeited and cancelled and cease to be recorded in the Share Unit Account of the relevant U.S. Participant as of the Termination Date, and the U.S. Participant will have no further
right, title or interest in or to such unvested Performance Share Units. 

 Article 12. 

CHANGE OF CONTROL 
  

	12.1	 Change of Control. For purposes of this Section 12.1, with respect to Share Units of U.S.
Participants, Change of Control shall mean the events and circumstances described in the Change of Control definition set forth in Section 2.1(n), provided that such event or circumstance also is a “change of control event” within the
meaning of Section 409A of the Code. Subject to the applicable rules and regulations of all regulatory authorities to which the Company is subject, including any Stock Exchange, and notwithstanding any other provision of this Plan, in
the event of a Change of Control, the following provisions shall apply: 

  

	 	(a)	 in the event of a transaction that would result in a Change of Control the Board may, in its sole
discretion, immediately vest all unvested Awards, provided that with respect to Awards granted to U.S. Participants such acceleration of vesting will not change the time of redemption/payment with respect to Share Units that are subject to
Section 409A of the Code, except to the extent permitted under Section 409A. If the Board vests any Performance Share Units pursuant to this Section 12.1(a) then, the Performance Percentage for such Vested Performance Share Units
shall be between 100 per cent and 200 per cent, as determined by the Board, in its sole discretion; and 

  
 23 

	 	(b)	 in the event of a Change of Control and the termination of an Employee or Service Provider’s engagement
within 12 months after the Change of Control for any reason other than resignation without Good Reason or termination for Cause: 

  

	 	(i)	 all unvested Options held by such Participant shall immediately vest on the Termination Date and the Expiry
Date of all Vested Options held by the Participant shall be the earlier of (i) twelve months after the Termination Date and (ii) the Option Expiry Date; 

 

	 	(ii)	 all unvested Restricted Share Units held by such Participant shall immediately be deemed to be Vested
Restricted Share Units as of the Termination Date, which, for the purposes of this Section 12.1(b)(ii), shall be deemed to be the Vesting Date, and the Company shall immediately redeem such Vested Restricted Share Units for, at the election of
the Participant, (i) Common Shares issued from treasury, (ii) Common Shares purchased on the open market or (iii) a cash amount equal to the Market Price of such Vested Restricted Share Units as of the Termination Date; and

  

	 	(iii)	 all unvested Performance Share Units held by such Participant shall immediately be deemed to be Vested
Performance Share Units as of the Termination Date, which, for the purposes of this Section 12.1(b)(iii), shall be deemed to be the Vesting Date, based on an assumed Performance Percentage of (a) 100 per cent or (b) at the
Board’s discretion, between 100 per cent and 200 per cent and the Company shall immediately redeem such Vested Performance Share Units for, at the election of the Participant, (i) Common Shares issued from treasury,
(ii) Common Shares purchased on the open market or (iii) a cash amount equal to the Market Price of such Vested Performance Share Units as of the Termination Date; 

Notwithstanding the foregoing provisions of this Article 15, the Board may, in its sole discretion, make such
determinations as it considers appropriate in the circumstances upon a Change of Control to ensure the fair treatment of Participants in such circumstances in light of the objectives of this Plan, including, without limitation, with respect to the
vesting periods and Performance Percentages applicable to any Share Units, the amounts to be paid to Participants on the redemption of any Share Units and/or the termination of this Plan (and, for greater certainty, such determinations may result in
different vesting, redemption or payment terms than would result from the operation of Sections 12.1(a) and (b) without such determinations). 

  
 24 

	12.2	 Change of Control – Exercise to Participate in Transaction. Notwithstanding
Section 12.1, the Board may, in its sole discretion, allow a Participant to exercise an Option or redeem a Share Unit that has not otherwise vested for Common Shares, and 

 

	 	(a)	 if a “take-over bid” (within the meaning of applicable securities legislation) made by any Person
for the voting securities of the Company would, if successful, result in a Change of Control, then the Participant may exercise such Option or redeem such Share Unit for Common Shares during the period ending on the earlier of the expiration of the
take-over bid and the Expiry Date solely for the purpose of depositing the Common Shares related to such Option or Share Unit pursuant to the take-over bid, and 

 

	 	(b)	 if any other transaction or series of transactions is contemplated, which would, if successful, result in a
Change of Control, then the Participant may exercise their Option or redeem their Share Unit for Common Shares during such period as is determined by the Board to be reasonable in the circumstances solely for the purpose of participating in the
transaction or series of transactions; 

 provided that if such Change of Control does not occur then the
Participant shall promptly return the Common Shares (or the portion that are not taken up and paid for) to the Company for cancellation, the Option or Share Unit respecting such Common Shares shall be deemed not to have been exercised or redeemed,
as applicable, the Common Shares shall be deemed not to have been issued and in the case of an Option, the Company shall refund to the Participant the aggregate Exercise Price for the Common Shares (unless the Participant elected cashless exercise).

 Article 13. 

BLACKOUT EXTENSIONS 
  

	13.1	 Options. Where the Expiry Date for an Option occurs during or within nine (9) Business
Days following the end of a Blackout Period, the Expiry Date for such Option automatically shall be extended to the date which is ten (10) Business Days following the end of such Blackout Period. 

 

	13.2	 Share Units. If the Redemption Date for a Vested Share Unit occurs during or within
nine (9) Business Days following the end of a Blackout Period, then, notwithstanding any other provision of this Plan, the Vested Share Unit shall instead be redeemed on, and “Redemption Date” shall mean the date which is ten
(10) Business Days after the date on which the Blackout Period ends. In such case, the Company shall redeem all such Vested Share Units in accordance with Section 9.13 as of the Redemption Date, determined in accordance with this
Section 13.2, except that if the Vested Share Units are to be redeemed for cash pursuant to Section 9.13(ii) the definition of Market Price shall be amended so that it is calculated based on the volume weighted average trading price of the
Common Shares from and including the Trading Day immediately following the end of the Blackout Period up to and including the Trading Day immediately preceding the Redemption Date. Notwithstanding the foregoing, with respect to Share Units of U.S.
Participants this Section 13.2 shall not operate to establish a Redemption Date later than December 31st of the calendar year in which the Redemption Date, as determined without reference to this Section 13.2, occurs.

  
 25 

 Article 14. 

ADJUSTMENTS 
  

	14.1	 Adjustments. Adjustments will be made at the discretion of the Board to (x) the
Exercise Price of an Option, (y) the number of Common Shares or other securities issuable to a Participant upon exercise or redemption of an Award and/or (z) the maximum number of Common Shares that, pursuant to Sections 6.1 and 6.2, may
at any time be reserved for issuance pursuant to Awards granted under this Plan in the following events and manner, subject to any required regulatory approvals and the right of the Board to make such other or additional adjustments as the Board
considers to be appropriate in the circumstances: 

  

	 	(a)	 upon (i) a subdivision of the Common Shares into a greater number of Common Shares, (ii) a
consolidation of the Common Shares into a lesser number of Common Shares, or (iii) the issue of a stock dividend to holders of the Common Shares (excluding a stock dividend paid in lieu of a cash dividend in the ordinary course), the Exercise
Price will be adjusted accordingly and the Company will deliver, upon exercise of an Option, in addition to or in lieu of the number of Common Shares in respect of which the right to purchase is being exercised, such greater or lesser number of
Common Shares as result from the subdivision, consolidation or stock dividend; 

  

	 	(b)	 upon (i) a capital reorganization, reclassification or change of the Common Shares, or (ii) if the
outstanding Common Shares are changed into or exchanged for a different number of shares or into or for other securities of the Company or securities of another company or entity or for other consideration, whether through an arrangement,
amalgamation or other similar procedure or otherwise, then on each exercise of the Option which occurs following such events, for each Common Share for which the Option is exercised, the Participant shall instead receive the number and kind of
shares or other securities of the Company or other company or other consideration into which such Common Shares would have been changed or for which such Common Shares would have been exchanged if it had been outstanding on the date of such event;

  

	 	(c)	 upon the distribution by the Company to holders of the Common Shares of (i) shares of any class
(whether of the Company or another Person) other than Common Shares, (ii) rights, options or warrants, (iii) evidences of indebtedness, or (iv) cash (excluding a cash dividend paid in the ordinary course), securities or other property
or assets, the Exercise Price will be adjusted accordingly but no adjustment will be made to the number of Common Shares to be delivered upon exercise of an Option; 

 

	 	(d)	 adjustments to the Exercise Price of an Option will be rounded up to the nearest one cent and adjustments to
the number of Common Shares delivered to a Participant upon exercise of an Option and the maximum number of Common Shares that, pursuant to Section 6.1, may at any time be reserved for issuance pursuant to Awards granted under this Plan will be
rounded down to the nearest whole Common Share; and 

  
 26 

	 	(e)	 an adjustment will take effect at the time of the event giving rise to the adjustment, and the adjustments
provided for in this Section 14.1 are cumulative. 

 Appropriate adjustments that are substantially
similar in effect to the foregoing will be made at the discretion of the Board in respect of Share Units in the foregoing events and manner, subject to any required regulatory approvals and the right of the Board to make such other or additional
adjustments as the Board considers to be appropriate in the circumstances. 
  

	14.2	 Cancellation. The Board may, in its sole discretion, cancel any or all outstanding Awards and pay to
the holders of any such Awards that are otherwise vested, in cash, the value of such Awards based upon the price per Common Share received or to be received by other shareholders of the Company in such event, provided that with respect to Awards to
U.S. Participants, such cancellation and payout will be in a manner that does not violate Section 409A of the Code, to the extent it is applicable. 

  

	14.3	 No Limitation. The grant of any Awards under this Plan will in no way affect the Company’s right
to adjust, reclassify, reorganize or otherwise change its capital or business structure or to merge, amalgamate, reorganize, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets or engage in any like
transaction. 

  

	14.4	 No Fractional Shares. No adjustment or substitution provided for in this Article 14 will require the
Company to issue a fractional Common Share or any other security in respect of any Awards and the total substitution or adjustment with respect to each Award will be limited accordingly. 

Article 15. 

SUSPENSION, AMENDMENT OR TERMINATION OF PLAN 
  

	15.1	 Suspension, Amendment or Termination of Plan. The Board will have the right, at any
time, to suspend or terminate this Plan and, subject to Section 15.2, may: 

  

	 	(a)	 only to the extent approved by the shareholders of the Company, by ordinary resolution, make any amendment
to any Award or this Plan that would: 

  

	 	(i)	 increase the number of Common Shares, or rolling maximum, reserved for issuance under this Plan as set out
in Section 6.1, 

  

	 	(ii)	 increase the number of Common Shares, or rolling maximum, reserved for issuance for the award of full-value
awards as set out in Section 6.2, 

  

	 	(iii)	 reduce the Exercise Price per Common Share under any Option or cancel any Option and replace such Option
with a lower Exercise Price per Common Share under such replacement Option, 

  

	 	(iv)	 extend the term of an Award beyond its original expiry time, 

 

	 	(v)	 permit an Award to be transferable or assignable to any Person other than in accordance with
Section 10.10, 

  
 27 

	 	(vi)	 expand the scope of persons eligible to participate in the Plan to include
non-employee directors, or 

  

	 	(vii)	 amend this Article 15, or 

 

	 	(b)	 approve all amendments to the Plan or Awards granted under the Plan, other than those amendments specified
in Section 15.1(a), in its discretion without the prior approval of shareholders of the Company. Without limiting the generality of the foregoing, the following types of amendments would not require shareholder approval: 

 

	 	(i)	 amendments of a clerical nature, including, but not limited, to the correction of grammatical or
typographical errors or clarification of terms, 

  

	 	(ii)	 amendments that are necessary for Awards to qualify for favourable treatment under applicable tax laws,

  

	 	(iii)	 amendments to reflect any requirements of any regulatory authorities to which the Company is subject,
including any Stock Exchange, 

  

	 	(iv)	 amendments to any vesting provisions of an Award, 

 

	 	(v)	 amendments to the expiration date of an Award that does not extend the term of an Award past the original
date of expiration for such Award, 

  

	 	(vi)	 amendments which increase the Exercise Price of an Option, 

 

	 	(vii)	 amendments to the Target Milestones, 

 

	 	(viii)	 amendments to the Performance Periods, 

 

	 	(ix)	 amendments to expand the scope of persons eligible to participate in the Plan other than to non-employee directors, 

  

	 	(x)	 amendments regarding the administration of the Plan, and 

 

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

Notwithstanding the foregoing, all procedures and necessary approvals required under the applicable rules and regulations of
all regulatory authorities to which the Company is subject, including any Stock Exchange, shall be complied with and obtained in connection with any such suspension, termination or amendment to this Plan or amendments to any notice of award.
Notwithstanding the foregoing and any other provision in the Plan, with respect to Share Units of U.S. Participants, any action to modify, amend or terminate such Share Units or the Plan will be undertaken in a manner that complies with
Section 409A of the Code, to the extent it is applicable, and to the extent required to avoid adverse tax treatment. 

  
 28 

	15.2	 Limitations. In exercising its rights pursuant to Section 15.1, the Board will not
have the right to affect in a manner that is materially adverse to, or that materially impairs, the benefits and rights of any Participant under any Award previously granted under this Plan (except: (a) with the consent of such Participant;
(b) as permitted pursuant to Article 14; or (c) for the purpose of complying with the requirements of any regulatory authorities to which the Company is subject, including any Stock Exchange). 

 

	15.3	 Powers of the Board Survive Termination. The full powers of the Board as provided for in this Plan
will survive the termination of this Plan until all Awards have been exercised, redeemed in full, forfeited or have otherwise expired. 

Article 16. 

GENERAL 
  

	16.1	 No Rights as Shareholder. Nothing herein or otherwise shall be construed so as to confer on any
Participant any rights as a shareholder of the Company with respect to any Common Shares reserved for the purpose of any Award. 

  

	16.2	 Agreement. The Company and every Award awarded hereunder shall be bound by and subject to the terms
and conditions of this Plan. By accepting an Award granted hereunder, the Participant expressly agrees with the Company to be bound by the terms and conditions of the Plan. 

 

	16.3	 No Effect on Employment. Nothing in this Plan or any notice of award will confer upon any Participant
any right to continue in the employ of or under contract with the Company or its Affiliates, or affect in any way the right of the Company or its Affiliates, to terminate their employment or engagement at any time or terminate their consulting
contract, nor will anything in this Plan or any notice of award be deemed or construed to constitute an agreement or an expression of intent, on the part of the Company or its Affiliates to extend the employment of any Participant beyond the time
that he or she would normally be retired pursuant to the provisions of any present or future retirement plan of the Company or its Affiliates, or any present or future retirement policy of the Company or its Affiliates, or beyond the time at which
he or she would otherwise be retired pursuant to the provisions of any employment, engagement or consulting agreement with the Company or its Affiliates. Neither any period of notice nor any payment in lieu thereof upon termination of employment
shall be considered as extending the period of employment for the purposes of this Plan. 

  

	16.4	 No Obligation to Fund or Secure. Unless otherwise determined by the Board, the Plan, including any
right of a Participant hereunder, shall remain an unfunded and unsecured obligation of the Company and any applicable Affiliates of the Company. Neither the establishment of the Plan nor the grant of Awards (or any action taken in connection
therewith) shall be deemed to create a trust. 

  

	16.5	 Administration Costs. The Company will be responsible for all costs relating to the administration of
the Plan. 

  

	16.6	 No Salary Deferral Arrangement. Notwithstanding any other provision of the Plan, it is intended that
the Plan and the Awards granted thereunder not be considered “salary deferral arrangements” under the Income Tax Act (Canada) and the Plan shall be administered in accordance with such intention. Without limiting the generality of
the foregoing, the Board may make such amendments to the terms of outstanding Awards (including, without limitation, changing the Vesting Dates, Expiry Dates and Redemption Dates thereof) as may be necessary or desirable, in the sole discretion of
the Board, so that the Plan and the Awards outstanding thereunder are not considered “salary deferral arrangements”. 

  
 29 

	16.7	 No Fettering of Directors’ Discretion. Nothing contained in this Plan will restrict or limit or
be deemed to restrict or limit the right or power of the Board in connection with any allotment and issuance of Common Shares which are not allotted and issued under this Plan including, without limitation, with respect to other compensation
arrangements. 

  

	16.8	 Prior Plans. All options, restricted share units and performance share units granted by the
Company prior to the Effective Date shall continue to be governed by the terms of the plans under which such options, restricted share units and performance share units were granted (the “Prior Grants”). For greater certainty, all
Common Shares issuable pursuant to the terms of the Prior Grants shall be included when calculating the aggregate number of Common Shares that may be issuable pursuant to Section 6.1. 

 

	16.9	 Applicable Law. The Plan and any notice of award granted hereunder will be governed, construed and
administered in accordance with the laws of the Province of British Columbia and the laws of Canada applicable therein. Any actions, proceedings or claims in any way relating to the Plan shall be commenced in the courts of the Province of British
Columbia and the courts of the Province of British Columbia will have the exclusive jurisdiction to entertain any such action, proceeding or claim. The Company, each Participant and his or her Legal Representative, if applicable, hereby attorn to
the jurisdiction of the courts of the Province of British Columbia. 

  
 30 

 SCHEDULE “A” 

SSR MINING INC. 2020 SHARE COMPENSATION PLAN 

TARGET MILESTONES FOR PERFORMANCE SHARE UNITS 

Target Milestone 
 The Target
Milestone for Performance Share Units granted shall be based on the total shareholder return (“TSR”) of the Company over the Performance Period compared with the TSR of a peer group of companies approved by the Committee over the
same time period. 
 Performance Percentage 

The Performance Percentage shall be determined as follows: 
  

			
	 	 
	
Performance level (relative TSR)
	  	Payout (% of grant vesting)
	 	 
	
>P50 to P100
	  	101%—200% (linear basis)
	 	 
	
=P50
	  	100%
	 	 
	
>P33 but <P50
	  	51%—99% (linear basis)
	 	 
	
=P33
	  	50%
	 	 
	
<P33
	  	Nil

  
 31

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