Document:

Exhibit 10.9

 

CLEMENTIA PHARMACEUTICALS INC.

2017 OMNIBUS INCENTIVE PLAN

 

SECTION 1. PURPOSE

 

The purpose of Clementia Pharmaceuticals
Inc. 2017 Omnibus Incentive Plan (the “Plan”) is to promote the interests of the Company and its shareholders
by (i) attracting and retaining executive personnel and other key employees and directors of outstanding ability; (ii) motivating
executive personnel and other key employees and directors, by means of performance-related incentives, to achieve longer-range
performance goals; and (iii) enabling such individuals to participate in the long-term growth and financial success of the Company.

 

SECTION 2. DEFINITIONS

 

(a) Certain Definitions. Capitalized
terms used herein without definition shall have the respective meanings set forth below:

 

“Adjustment Event” has
the meaning given in Section 4(e).

 

“Affiliate” means, (i)
for purposes of Incentive Stock Options, any corporation that is a “parent corporation” (as defined in Section 424(e)
of the Code) or a “subsidiary corporation” (as defined in Section 424(e) of the Code) of the Company, and (ii) for
all other purposes, any corporation or other entity that (directly or indirectly) is controlled by, controlling or under common
control with such person.

 

“Award” means any or a
combination of the following: (i) Options, (ii) SARs, (iii) Restricted Stock, (iv) Unrestricted Stock, (v) Restricted Stock Units,
(vi) Performance Awards, (vii) Deferred Share Units, (viii) Elective DSUs, and (ix) Awards, other than Awards described in the
foregoing (i) through (viii) that are convertible into or otherwise based on Stock.

 

“Award Agreement” means
an agreement between the Company and a Participant, setting out the terms and conditions relating to an Award granted under the
Plan.

 

“Board” means the Board
of Directors of the Company.

 

“Canadian Taxpayer” means
a Participant liable to pay income taxes in Canada pursuant to the receipt of an Award under the Plan.

 

“Cause” means (a) in the
case of any Participant who is party to (or in the case of Consultant, whose company or partnership is a party to) a written employment,
service or severance-benefit agreement that contains a definition of “Cause”, the definition set forth in such agreement
for so long as such agreement is in effect; (b) in the case of any Participant without such an agreement whose Service is not in
the United States, the usual meaning of “cause” under the laws of the relevant jurisdiction applicable to the Participant
and (c) in the case of any Participant without such an agreement whose employment or service is in the United States (i) the willful
failure by the Participant to perform substantially his or her duties owed to the Company or of any of its Affiliates (other than
due to physical or mental illness); (ii) the Participant’s engaging in willful or serious misconduct that has caused or could
reasonably be

    	 

    	

    

expected to be injurious to the Company or
any of its Affiliates in any way, including, but not limited to, by way of damage to their respective reputations or standings
in their respective industries; (iii) the Participant’s breach of fiduciary duty or fraud with respect to the Company or
any of its Affiliates; (iv) the Participant’s having been indicted for or convicted of, or entered a plea of guilty or nolo
contendere to, a crime that constitutes a felony; (v) the breach by the Participant of any written covenant or agreement with the
Company or any of its Affiliates not to disclose or misuse any information pertaining to, or misuse any property of, the Company
or any of its Affiliates or not to compete or interfere with the Company or any of its Affiliates; (vi) violation of any written
policy, program or code of the Company or any of its Affiliates or (vii) the commission by the Participant of an act of fraud or
embezzlement against the Company or any of its Affiliates. In addition, a Participant’s Service shall be deemed to have terminated
for Cause if, after a Participant’s Service has terminated (for a reason other than Cause), facts and circumstances are discovered
that would have justified a termination for Cause as determined by the Committee in its discretion.

 

“Change in Control” shall
be deemed to have occurred upon any of the following events:

 

(i) any person (within the meaning
of Section 3(a)(9) of the Exchange Act)), including any group (within the meaning of Rule 13d-5(b) under the Exchange Act), excluding
(a) the Company, (b) any subsidiary of the Company, (c) any trustee or other fiduciary holding securities under an employee benefit
plan of the Company or of any subsidiary of the Company, together with all affiliates and associates (as such terms are used in
Rule 12b-2 under the Exchange Act) of such person, directly or indirectly becomes the beneficial owner (within the meaning of Rule
13d-3 under the Exchange Act) of, or acquires control or direction directly or indirectly over, securities of the Company representing
50% or more of the total votes eligible to be voted for the election of directors or trustees (“Voting Power”) attached
to the Company’s then outstanding securities;

 

(ii) within any 12-month period
(not including any period prior to the date the Plan was initially adopted), individuals who constitute the Board at the beginning
of such period and any new director (other than a director designated by a person who has conducted or threatened a proxy contest,
or has entered into an agreement with the Company to effect a transaction described in clause (i), (iii) or (iv) of this definition)
whose election to the Board or nomination for election was approved by a majority of the directors then still in office who either
(a) were directors at the beginning of the period or (b) whose election or nomination for election was previously so approved cease
to constitute at least a majority of the Board or the board of directors of any successor to the Company;

 

(iii) the consummation of the
merger, amalgamation, arrangement or consolidation of the Company with any other company; or

 

(iv) the complete liquidation
of the Company or the sale or disposition by the Company of all or substantially all of the Company’s assets;

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provided however that notwithstanding clauses (i),
(iii) or (iv) of this definition a Change in Control shall not be deemed to have occurred if immediately following the transaction
described in clause (i), (iii) or (iv) of this definition: (A) the holders of voting securities of the Company that immediately
prior to the consummation of such transaction represented more than 50% of the combined Voting Power including any trustee or other
fiduciary holding securities under an employee benefit plan of the Company or of any subsidiary of the Company in existence prior
to the transaction hold (x) securities of the entity resulting from such transaction (the “Surviving Entity”) that
represent more than 50% of the combined Voting Power of the then outstanding securities of the Surviving Entity, or (y) if applicable,
securities of the entity that directly or indirectly has beneficial ownership of 100% of the securities eligible to elect directors
or trustees of the Surviving Entity (the “Parent Entity”) that represent more than 50% of the combined voting power
of the then outstanding securities eligible to vote for the election of directors or trustees of the Parent Entity, and (B) no
person (as defined in clause (i) of this definition), including any group (as defined in clause (i) of this definition), excluding
any trustee or other fiduciary holding securities under an employee benefit plan of the Company or of any subsidiary of the Company
in existence prior to the transaction, together with all affiliates and associates (as those terms are defined in clause (i) of
this definition), is directly or indirectly the beneficial owner (as defined in clause (i) of this definition) of, or exercises
control or direction directly or indirectly over, 50% or more of the voting power of the Parent Entity (or, if there is no Parent
Entity, the Surviving Entity) (any such transaction which satisfies all of the criteria specified in clauses (A) and (B) above
being referred to as a “Non-Qualifying Transaction” and, following the Non-Qualifying Transaction, references in this
definition of “Change in Control” to the “Company” shall mean and refer to the Parent Entity (or, if there
is no Parent Entity, the Surviving Entity) and, if such entity is a company or a trust, references to the “Board”
shall mean and refer to the board of directors or trustees, as applicable, of such entity).

 

Notwithstanding the foregoing definition of “Change
in Control”, in any case where the occurrence of a Change in Control could affect the vesting of or payment under an Award
subject to the requirements of Section 409A, to the extent required to comply with Section 409A, the term “Change in Control”
shall mean an occurrence that both (i) satisfies the requirements set forth above in this definition and (ii) is a “change
in control event” as that term is defined in the regulations under Section 409A of the Code.

 

“Code” means the Internal
Revenue Code of 1986, as amended from time to time.

 

“Committee” means Compensation
Committee of the Board or such other committee of the Board as the Board shall designate from time to time. In the event of any
delegation described in Section 3(c), the term “Committee” shall include the person or persons so delegated to the
extent of such delegation.

 

“Company” means Clementia
Pharmaceuticals Inc. and any successor thereto.

 

“Consultant” means an
individual consultant or a consultant entity, other than an Employee that:

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(a) is engaged to provide services on
a bona fide basis to the Company or an Affiliate of the Company, other than services provided in relation to a distribution of
securities of the Company or an Affiliate of the Company;

 

(b) provides the services under a written
contract with the Company or an Affiliate of the Company; and

 

(c) spends or will spend a significant
amount of time and attention on the affairs and business of the Company or an Affiliate of the Company;

 

and includes, (1) for an individual consultant, (i) a company
of which the individual consultant is an employee or shareholder; or (ii) a partnership of which the individual consultant is an
employee or partner, and (2) for a consultant that is not an individual, an employee or director of the consultant, provided that
the individual employee or director spends or will spend a significant amount of time and attention on the affairs and business
of the Company or an Affiliate of the Company;

 

“Covered Employee” means
any “covered employee” as defined in Section 162(m)(3) of the Code.

 

“Date of Grant” means,
for any Award, the date specified by the Committee at the time it grants the Award (which, for greater certainty, shall be no earlier
than the date on which the Committee meets for the purpose of granting such Award) or if no such date is specified, the date upon
which the Award was granted by the Committee.

 

“Deferred Amount” has
the meaning set forth in Section 9(b).

 

“Deferred Share Unit”
means a unit credited to a Participant’s Deferred Share Unit Account pursuant to Section 9.

 

“Deferred Share Unit Account”
means an unfunded book-entry account maintained by the Committee to reflect Deferred Share Units granted to a Participant.

 

“Delay Period” has the
meaning set forth in Section 14(o).

 

“Disability” except as
provided below with respect to Incentive Stock Options or Awards subject to Section 409A, (i) in the case of any Participant who
is party to an employment, service or severance-benefit agreement that contains a definition of “Disability,”
the definition set forth in such agreement for so long as such agreement is in effect, and (ii) in the case of any other Participant,
the Participant’s total and permanent disability, as determined by the Committee in its discretion, which may include consultation
with a medical professional. In the case of any Incentive Stock Option, “Disability” shall have the meaning set forth
in Section 22(e)(3) of the Code and in the case of any award subject to Section 409A, “Disability” shall have
the meaning set forth in Section 409A.

 

“Dividend Equivalent”
means amounts paid in lieu of cash dividends or other cash distributions with respect to shares of Stock.

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“Elective Deferral” has
the meaning set forth in Section 9(b)(i).

 

“Elective DSU” has the
meaning set forth in Section 9(b).

 

“Elective DSU Account”
means an unfunded book-entry account maintained by the Committee to reflect Elective DSUs granted to a Participant attributable
to his or her Elective Deferrals.

 

“Eligible Bonus” means
a cash bonus payable pursuant to one or more of the Company’s annual and long-term incentive bonus plans, subject to such
exceptions as the Committee may determine prior to the deadline for any Elective Deferral that might be affected by such determination.

 

“Eligible Compensation”
means, with respect to any Plan Year: (i) the base salary payable by the Employer to a Participant during the Plan Year, including,
for the avoidance of doubt, base salary payable to a Participant for the final payroll period that includes the Participant’s
Termination Service, in respect of services performed during the Plan Year, determined before reduction for deferrals under any
qualified or nonqualified plan (including, without limitation, this Plan); (ii) in the case of Directors, annual retainers and/or
meeting fees payable in the Plan Year in respect of services performed during the Plan Year; and (iii) to the extent provided by
the Committee, other cash compensation payable in the Plan Year in respect of services performed during the Plan Year. For purposes
of determining Eligible Compensation of a Participant for a Plan Year, compensation earned for services performed during the final
payroll period containing the last day of such Participant’s taxable year will be credited under the Plan in a manner consistent
with Treas. Regs. § 1.409A- 2(a)(13), to the extent applicable.

 

“Eligible Director” means
a member of the Board who is not an Employee.

 

“Effective Date” means
the date of adoption of this Plan by the Board.

 

“Employee” means any employee
or officer of the Company or any of its Affiliates, other than an Eligible Director (as determined by the Committee in its sole
discretion).

 

“Employer” means the Company
and any of its Affiliates.

 

“Exchange Act” means the
Securities Exchange Act of 1934, as amended.

 

“Executive Officer” means
any “officer” within the meaning of Rule 16(a)-1(f) promulgated under the Exchange Act or any Covered Employee.

 

“Exempt Award” means a
Performance Award intended to satisfy the performance-based compensation exception under Section 162(m).

 

“Fair Market Value” of
a share of Stock on any date means, (i) prior to the initial public offering of the Stock and the Stock having been listed on a
stock exchange in the United States or Canada, the fair market value of a share as determined by the Committee on such date, provided
that no minority discount shall be applied; and (ii) subsequent to the initial public offering of the Stock and the Stock having
been listed on a stock exchange in the United States

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or Canada, the reported closing price of the
Stock on such exchange on such date, or, if no sale is so reported, the reported closing price of the Stock on such exchange on
the immediately preceding day on which the Stock was traded prior to the Date of Grant.

 

“Incentive Stock Option”
means an Option that is intended to meet the requirements of Section 422 of the Code. Each Option granted pursuant to the Plan
will be treated as providing by its terms that it is a Non-Statutory Stock Option, unless, as of the Date of Grant, it is expressly
designated as an Incentive Stock Option.

 

“New Employer” means,
after a Change in Control, a Participant’s employer, or any direct or indirect parent or any direct or indirect majority-owned
subsidiary of such employer.

 

“Non-statutory Stock Option”
means an Option that is not intended to be an Incentive Stock Option.

 

“Option” means an option
entitling the holder to acquire shares of Stock upon payment of the exercise price.

 

“Participant” means an
Employee or Eligible Director or a Consultant who is selected by the Committee to receive an Award under the Plan.

 

“Performance Award” means
any Award that vests (in whole or in part) upon the achievement of specified Performance Goals.

 

“Performance Cycle” means
the period of time selected by the Committee during which performance is measured for the purpose of determining the extent to
which a Performance Award has been earned or vested.

 

“Performance Goals” has
the meaning set forth in Section 6(b).

 

“Permitted Assigns” has
the meaning assigned to that term in section 2.22 of Regulation 45-106 respecting Prospectus Exemptions (Quebec), as amended from
time to time.

 

“Plan Year” means the
calendar year.

 

“Restriction Period” means
the period of time selected by the Committee during which Restricted Stock, Restricted Stock Units or Deferred Share Units, as
the case may be, are subject to forfeiture, repurchase by the Company and/or restrictions on transfer pursuant to the terms of
the Plan.

 

“Restricted Stock” means
shares of Stock subject to restrictions requiring that it be forfeited, redelivered, or offered for sale to the Company if specified
conditions are not satisfied.

 

“Restricted Stock Unit”
means a Stock Unit that is, or as to which the delivery of Stock or cash in lieu of Stock, is subject to the satisfaction of specified
performance or other vesting conditions.

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“Retirement” means, unless
another definition is incorporated into the applicable Award Agreement, a termination of the Participant’s Service at or
after the time Participant reaches age 65; provided, however, that if a Participant is a party to an employment,
service or individual severance agreement with an Employer that defines the term “Retirement” then, with respect to
any Award made to such Participant, “Retirement” shall have the meaning set forth in such employment, service or severance
agreement.

 

“Section 162(m)” means
Section 162(m) of the Code and the applicable rules, regulations and guidance promulgated thereunder.

 

“Section 409A” means Section
409A of the Code and the applicable rules, regulations and guidance promulgated thereunder.

 

“Service” means, with
respect to Employees, employment with or service to the Company and its Affiliates or, with respect to Eligible Directors, service
on the Board.

 

“Service Award” means
an Award that is not a Performance Award.

 

“Stock” means the common
shares of the Company.

 

“Stock Appreciation Right”
or “SAR” means a right entitling the holder upon exercise to receive an amount payable in cash or shares of
Stock of equivalent value, equal to product of (i) the excess, if any, of the Fair Market Value of one share of Stock on the exercise
date over the base value (which shall be no less than the fair market value of the Stock on the Date of Grant) fixed by the Committee
on the Date of Grant, multiplied by (ii) the number of shares of Stock underlying the Stock Appreciation Right.

 

“Stock Unit” means an
unfunded and unsecured promise, denominated in shares of Stock, to deliver Stock or cash measured by the value of Stock in the
future.

 

“Termination for Business Reasons”
means termination of employment or service by the Participant as a result of (i) the Employer or New Employer requiring the Participant
to work in an office which is more than 50 kilometers from the location of the Employer’s current principal executive office
or the location where the Participant is employed or otherwise provides services immediately prior to such termination (subject
to such reasonable travel as the performance of Participant’s duties and the business of the Employer may require), or (ii)
a material diminution in Participant’s compensation or duties.

 

“Termination of Service”
means with respect to an Eligible Director, the date upon which such Eligible Director ceases to be a member of the Board or otherwise
ceases to provide Services to the Company, with respect to a Consultant, the date the individual Consultant (or the individual
Consultant’s company or partnership) ceases to provide Services to the Company, and with respect to an Employee, the date
the Participant ceases to be an Employee, including, with respect to the provisions of Section 9 applicable to a Canadian Taxpayer,
due to a Termination for Business Reasons, which causes the Employee to cease to provide Services to the Company; provided,
however, that (a) with respect to any Award providing for the payment of any amounts considered “nonqualified deferred
compensation” under Section 409A, to the extent applicable, upon or following a Termination of Service (i) a Termination
of Service shall not be

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deemed to have occurred for purposes of
any provision of this Plan or the applicable Award Agreement unless such termination is also a “separation from
service” within the meaning of Section 409A (after giving effect to the presumptions contained therein) and, (ii) for
purposes of this Plan and any Award Agreement references to a “Termination of Service”,
“termination”, “termination of employment” or like terms shall mean a “separation from
service”, and (b) in the case of a Canadian Taxpayer, the date a Termination of Service occurs is the date designated
by the Employer on which an Employee ceases to be an employee of the Employer, provided that in the case of Termination of
Service due to the voluntary resignation by the Participant, such date shall not be earlier than the date notice of
resignation was given, and the date a Termination Service occurs specifically does not include any period of reasonable
notice that the Employer may be required by law to provide to the Participant.

 

“Unrestricted Stock” means
Stock not subject to any restrictions under the terms of the Award.

 

As used in the Plan, the terms “vest”,
“vesting” or “to vest”, means, with respect to Awards requiring exercise, to become exercisable,
and with respect to Awards subject to a Restriction Period, the lapsing of the Restriction Period.

 

(b) Gender and Number. Except when
otherwise indicated by the context, words in the masculine gender used in the Plan shall include the feminine gender, the singular
shall include the plural, and the plural shall include the singular.

 

(c) Control. In this Plan, a Person
is considered to be “Controlled” by a Person if:

 

(i) in the case of a Person,

 

(A) voting securities of the
first mentioned Person carrying more than 50% of the votes for the election of directors are held, directly or indirectly, otherwise
than by way of security only, by or for the benefit of the other Person; and

 

(B) the votes carried by the
securities are entitled, if exercised, to elect a majority of the directors of the first mentioned Person;

 

(ii) in the case of a partnership
that does not have directors, other than a limited partnership, the second mentioned Person holds more than 50% of the interests
in the partnership; or

 

(iii) in the case of a limited
partnership, the general partner is the second mentioned Person.

 

SECTION 3. POWERS OF THE
COMMITTEE

 

(a) Power to Grant
and Establish Terms of Awards. The Committee shall have the discretionary authority, subject to the terms of the Plan, to (i)
determine the Employees, Eligible Directors and Consultants, if any, to whom Awards shall be granted; (ii) determine the type or
types of Awards to be granted; (iii) determine the form of settlement of Awards (whether

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in cash, shares of Stock
or other property); (iv) determine, modify or waive the terms and conditions of any and all Awards including, without limitation,
the number of shares of Stock subject to an Award, the time or times at which Awards shall be granted, the time or times at which
an Award will vest or become exercisable, the terms on which an Award will remain exercisable and the terms and conditions of applicable
Award Agreements. Without limiting the foregoing, the Committee may at any time accelerate the vesting or exercisability of an
Award, regardless of any adverse or potentially adverse tax or other consequences resulting from such acceleration. The Committee
may establish different terms and conditions for different types of Awards, for different Participants receiving the same type
of Award, and for the same Participant for each type of Award such Participant may receive, whether or not granted at the same
or different times. To the extent required to comply with the provisions of Rule 16b-3 promulgated under the Exchange Act (if the
Board is not acting as the Committee under the Plan) or necessary to obtain the exception for performance-based compensation under
Section 162(m) of the Code, as applicable, it is intended that each member of the Committee shall, at the time such member takes
any action with respect to an Award under the Plan that is intended to qualify for the exemptions provided by Rule 16b-3 promulgated
under the Exchange Act or to qualify as performance-based compensation under Section 162(m) of the Code, as applicable, be a Qualifying
Director. However, the fact that a Committee member shall fail to qualify as a Qualifying Director shall not invalidate any Award
granted by the Committee that is otherwise validly granted under the Plan.

 

(b) Administration.
The Plan shall be administered by the Committee. Notwithstanding the foregoing, upon recommendation of the Committee, the Board
shall have sole and complete authority and discretion to adopt, alter and repeal such administrative rules, guidelines and practices
governing the operation of the Plan as it shall from time to time deem advisable, to interpret the terms and provisions of the
Plan and any Award Agreement, and to otherwise do all things necessary or appropriate to carry out the purposes of the Plan. The
Board’s decisions shall be binding upon all persons, including the Company, shareholders, Employers and each Employee, Consultant,
Director, and Participant or the Participant’s estate, and shall be given deference in any proceeding with respect thereto.

 

(c) Delegation
by the Committee. The Committee with approval of the Board, may also appoint agents (who may be officers or employees of the
Company) to assist in the administration of the Plan and may grant authority to such persons to execute agreements, including Award
Agreements, or other documents on its behalf.

 

(d) Restrictive
Covenants and Other Restrictions. The Committee may cancel, rescind, withhold or otherwise limit or restrict any Award to a
Participant at any time if the Participant is not in compliance with all applicable provisions of the Award Agreement and the Plan,
or if the Participant breaches any agreement with the Company and/or one or more Affiliates with respect to non-competition, non-solicitation
of employees and customers or non-disclosure of confidential information. The Committee may, to the extent permitted by law, require
that the Participant disgorge any payments, profit, gain or other benefit received in respect of the Award in such circumstances.
Without limiting the generality of the foregoing, the Committee may recover Awards and payments under or profit, gain or other
benefit received in respect, of any Award in accordance with the Company’s clawback or recoupment policy, as such policy
may be amended and in effect from time to time, or as otherwise required by

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applicable law or applicable
stock exchange listing standards, including, without limitation, Section 10D of the Exchange Act.

 

(e) Sub-plans.
The Board may from time to time establish one or more sub-plans under the Plan for purposes of satisfying applicable blue sky,
securities, tax or other applicable laws of various jurisdictions. The Board will establish such sub-plans by adopting supplements
to the Plan setting forth (i) such limitations on the Board’s discretion under the Plan as it deems necessary or desirable
and (ii) such additional terms and conditions not otherwise inconsistent with the Plan as it deems necessary or desirable. All
supplements so established will be deemed to be part of the Plan, but each supplement will apply only to Participants within the
affected jurisdiction (as determined by the Board).

 

SECTION 4. MAXIMUM AMOUNT
AVAILABLE FOR AWARDS

 

(a) Number.
Subject to adjustment as provided in Section 4(e), the maximum number of shares of Stock that are available for issuance under
Awards shall be 2,339,176 shares of Stock. Notwithstanding the foregoing, the maximum number of shares of Stock that may be issued
in respect of Incentive Stock Options shall not exceed the total number of shares available under the Plan. The number of shares
reserved for issuance under the Plan will automatically increase by an annual amount to be added the first day of each year, beginning
January 1, 2018 and continuing until, and including, the fiscal year ending December 31, 2027, equal to the lower of 4% of the
number of shares Stock outstanding as of December 31 of the prior calendar year and an amount determined by our Board. Shares of
Stock issued under the Plan may be shares held in treasury or authorized but unissued shares of the Company not reserved for any
other purpose. No fractional shares of Stock will be issued under the Plan; it being understood that the number of shares of Stock
to be issued, if any, with respect to any Award shall be rounded down to the nearest whole number and no compensation shall be
payable for the resulting loss of any fractional share.

 

(b) Canceled,
Terminated, or Forfeited Awards; Tandem Awards; etc. Shares of Stock subject to an Award that for any reason expires without
having been exercised, is cancelled, forfeited or terminated or otherwise is settled without the issuance of any Stock shall again
be available for grant under the Plan. The grant of a tandem Award of an Option and a SAR pursuant to Section 8(e), shall reduce
the number of shares of Stock available for Awards under the Plan by the number of shares subject to the related Option (and not
as to both awards). To the extent consistent with applicable legal requirements (including applicable stock exchange requirements),
Stock issued under awards of an acquired company that are converted, replaced or adjusted in connection with the acquisition shall
not reduce the number of shares of Stock available for Awards under the Plan set forth in Section 4(a).

 

(c) Section 162(m)
Limits. The aggregate number of shares of Stock underlying all Awards (including, for the avoidance of doubt, Options, SARs,
Restricted Stock, Unrestricted Stock, Restricted Stock Units, Performance Awards, Deferred Share Units, Elective DSUs, and any
other Awards that are convertible into or otherwise based on Stock) granted to any Participant in any calendar year may not exceed
1,199,000 shares. In applying the foregoing limit, (A) all Awards granted to the same person in the same calendar year will be
aggregated and made subject to one limit; (B) with respect to Options and SARs the limitation applies to the

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number of shares of Stock
subject to those Awards; and (C) with respect to Awards other than Stock Options or SARs, the limitation applies to the number
of shares of Stock that may be delivered, or the value of which could be paid in cash or other property, under the Award or Awards
assuming a maximum payout. The foregoing provisions will be construed in a manner consistent with Section 162(m), including, without
limitation, where applicable, the rules under Section 162(m) pertaining to permissible deferrals of Exempt Awards.

 

(d) Eligible Director
Limits. Notwithstanding any other provision of the Plan to the contrary, including Section 4(c), a Participant who is an Eligible
Director, in any calendar year, may not receive (a) initial Awards with respect to the greater of (i) an aggregate of 35,970 shares
of Stock, or (ii) $300,000 in aggregate Date of Grant fair value (computed as of Date of Grant in accordance with applicable financial
accounting rules), and (b) annual Awards with respect to the greater of (i) an aggregate of 23,980 shares of Stock, or (ii) $200,000
in aggregate Date of Grant fair value (computed as of Date of grant in accordance with applicable financial accounting rules),
provided, however, that the aggregate number of shares of Stock issuable under outstanding Awards to Eligible Directors, at any
time, shall not exceed one (1%) percent of the issued and outstanding shares of Stock. The foregoing limits shall not apply to
any Award or shares of Stock granted pursuant to an Eligible Director’s election to receive shares of Stock in lieu of cash
fees.

 

(e) Adjustment
in Capitalization. The number and kind of shares of Stock available for issuance under the Plan, the maximum number of shares
that may be issued upon the exercise of Incentive Stock Options, the maximum number of shares that may be issued under Awards pursuant
to Section 4(c) and Section 4(d) and the number, class, exercise price (or base value), Performance Goals and any other affected
terms of any outstanding Award shall be adjusted by the Board to reflect any extraordinary dividend, stock dividend, stock split
or share combination (including a reverse stock split) or any recapitalization, business combination, amalgamation, merger, consolidation,
spin-off, exchange of shares, liquidation or dissolution of the Company or other similar transaction affecting the Stock (any such
transaction or event, an “Adjustment Event”) in such manner as it determines in its sole discretion; it being
understood that any adjustment to Performance Goals applicable to Exempt Awards will be subject to the applicable provisions in
Section 6(b)(ii). The Committee may also make adjustments of the type described in the preceding sentence to take into account
events other than Adjustment Events and other distributions to stockholders if the Committee determines that adjustments are appropriate
to avoid distortion in the operation of the Plan, having due regard for the qualification of Incentive Stock Options under Section
422, the requirements of Section 409A, and for the performance-based compensation rules of Section 162(m), where applicable.

 

(f) Prohibition
Against Repricing. Except to the extent (i) approved in advance by holders of a majority of the shares of the Company entitled
to vote generally in the election of directors in accordance with the NASDAQ Global Market listing requirements or (ii)
resulting from an Adjustment Event or a Change in Control, the Committee may not, whether through amendment or otherwise, (A) amend
the terms of outstanding Options or SARs to reduce the exercise price or base value so that it is less than the exercise price
or base value of the original Option or SAR or (B) cancel outstanding Options or SARs in exchange for Options or SARs with an exercise
price or base value that is less than the exercise or base value of the original Options or SARs.

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SECTION 5. ELIGIBILITY

 

(a) General.
The Committee will select Participants from among key Employees and Eligible Directors who, in the opinion of the Committee, have
the capacity to contribute to the success of the Company and its Affiliates.

 

(b) Options and
SARs Granted to U.S. Taxpayers. Notwithstanding anything to the contrary in this Plan regarding eligibility for Awards hereunder,
(i) eligibility for Non-statutory Stock Options or SARs granted to Participants who are U.S. taxpayers is limited to individuals
described in Section 5(a) providing direct services on the Date of Grant of the Non-statutory Stock Option or SAR, as applicable,
to the Company or to a subsidiary of the Company that would be described in the first sentence of Treas. Regs. §1.409A-1(b)(5)(iii)(E),
and (ii) eligibility for Incentive Stock Options granted to Participants who are U.S. taxpayers is limited to employees of the
Company and of any corporation that is a “parent corporation” (as defined in Section 424(e) of the Code) or a “subsidiary
corporation” (as defined in Section 424(e) of the Code) with respect to the Company.

 

(c) Prohibition
on Becoming an Independent Contractor. Following a cessation of employment with the Company and all of its Affiliates, a Participant
who is a U.S. Taxpayer who is subject to the Canadian Tax Rules is prohibited from providing services to the Company and any of
its Affiliates as an independent contractor for a period that does not end before December of the calendar year that begins after
cessation of employment.

 

SECTION 6. PERFORMANCE
AWARDS

 

(a) Generally.
Performance Awards shall be evidenced by an Award Agreement that shall specify (i) the Date of Grant, (ii) the number of shares
of Stock subject to the Award, (iii) the Performance Goals applicable thereto, (iv) the Performance Cycle over which the Performance
Goals will be measured, and (v) such other terms and conditions not inconsistent with the Plan as the Committee shall determine.
No dividends shall be paid on unearned Performance Shares. The Committee in its discretion may grant Performance Awards that are
intended to be Exempt Awards and Awards that are not intended to qualify for the performance-based compensation exception under
Section 162(m).

 

(b) Performance
Goals.

 

(i) Performance
Goals Defined. Performance Goals shall mean criteria specified by the Committee, other than the mere continuation of Employment
or the mere passage of time, the satisfaction of which is a condition to the grant, vesting, settlement or payment of an Award.
A Performance Goal and any targets with respect thereto determined by the Committee need not be based upon an increase, a positive
or improved result or avoidance of loss and may be applied to a Participant or Participants on an individual basis, one or more
business units or divisions, subsidiaries, products, projects or geographic locations, or combinations thereof or the Company as
a whole. In the case of Exempt Awards, a Performance Goal shall mean an objectively determinable measure or objectively determinable
measures of performance relating to any, or any combination, of the following (measured either in absolute terms or relative to
the performance of one or more similarly situated companies or a published

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index covering the performance
of a number of companies and determined either on a consolidated basis or, as the context permits, with respect to one or more
business units, divisions, subsidiaries, products, projects or geographic locations, or on combinations thereof): stockholder return;
sales; assets; expenses; earnings before or after deduction for all or any portion of interest, taxes, depreciation, amortization
or equity expense, whether or not on a continuing operations or an aggregate or per share basis; return on equity, investment,
capital, capital employed or assets; operating earnings; one or more operating ratios; operating income or profit, including on
an after-tax basis; net earnings; net income; income; earnings per share; revenues; stock price; economic value added; cash flow;
expenses; capital expenditures; working capital levels; borrowing levels, leverage ratios or credit rating; gross profit; market
share; workplace safety goals; workforce satisfaction and diversity goals; employee retention; completion of key projects; implementation
and achievement of synergy targets; joint ventures and strategic alliances, licenses or collaborations; sales of particular products
or services; customer acquisition or retention; acquisitions and divestitures (in whole or in part); spin-offs, split- ups and
the like; reorganizations; recapitalizations, restructurings, financings (issuance of debt or equity); or refinancings. When establishing
Performance Goals for a Performance Cycle, the Committee may exclude any or all “extraordinary items” as determined
under International Financial Reporting Standards (IFRS) and as identified in the financial statements, notes to the financial
statements or management’s discussion and analysis in the annual report, including, without limitation, the charges or costs
associated with closures and restructurings of the Company or any Employer, discontinued operations, extraordinary items, capital
gains and losses, dividends, share repurchase, other unusual or non-recurring items, and the cumulative effects of accounting changes.

 

(ii) Adjustments
to Performance Goals. Except in the case of Exempt Awards, the Committee may adjust the Performance Goals for any Performance
Cycle as it deems equitable in recognition of unusual or non-recurring events affecting the Company, changes in applicable tax
laws or accounting principles, or such other factors as the Committee may determine (including, without limitation, any adjustments
that would result in the Company paying non-deductible compensation to a Participant). In the case of Exempt Awards, to the extent
consistent with Section 162(m), the Committee may provide that one or more Performance Goals applicable to an Exempt Award will
be adjusted in an objectively determinable manner to reflect events occurring during the Performance Cycle that affect the applicable
Performance Goal or Performance Goals.

 

(c) Special Rules
Applicable to Exempt Awards. With respect to each Exempt Award, the Committee must establish Performance Goal or Performance
Goals and the Performance Cycle over which the Performance Goals will be measured in writing no later than the 90 days after the
Performance Cycle begins (or by such other date as may be required to qualify the Award as performance-based compensation under
Section 162(m) of the Code), but not later than the date on which 25% of the performance period has lapsed and, prior to the event
or occurrence (grant, vesting, settlement or payment, as the case may be) that is conditioned on the attainment of such Performance
Goal or Performance Goals, will certify in writing whether it or they have been attained. The preceding sentence will not apply
to an Award eligible (as determined by the Committee) for exemption from the limitations of Section 162(m) by reason of the post-initial
public offering transition relief in Section 1.162-27(f) of the Treasury Regulations.

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(d) Negative Discretion.
Notwithstanding anything in this Section 6 to the contrary, the Committee shall have the right, in its absolute discretion, (i)
to reduce or eliminate the amount otherwise payable to any Participant under a Performance Award based on individual performance
or any other factors that the Committee, in its discretion, shall deem appropriate and (ii) to establish rules or procedures that
have the effect of limiting the amount payable to each Participant to an amount that is less than the maximum amount otherwise
authorized under the Plan.

 

(e) Affirmative
Discretion. The Committee shall have the right, in its discretion, to determine that the actual amount payable under a Performance
Award other than an Exempt Award may be more than the amount indicated by the level of achievement of the applicable Performance
Goal or Performance Goals under the Award (subject to the maximum amount payable previously established by the Committee and subject
to Section 4(c) and Section 4(d)), based on individual performance or any other criteria that the Committee deems appropriate.
In each case, the Committee’s discretionary determination, which may affect different Awards differently, will be binding
on all parties.

 

(f) Settlement
of Performance Awards. No Performance Awards shall be earned unless and until the Committee has determined that the applicable
Performance Goal or Performance Goals have been attained and, to the extent required with respect to Exempt Awards, has certified
attainment of such Performance Goals pursuant to Section 6(c). Unless otherwise provided by the Committee, promptly following the
Committee’s determination (and certification, if applicable) that a Performance Award has been earned in accordance with
the preceding sentence, and in any event no later than sixty (60) days following the date of such determination (and certification,
if applicable), the Company will (i) issue and deliver to the Participant the number of shares of Stock underlying the Performance
Award to the extent so earned less, if applicable, the number of shares necessary to cover for applicable taxes to be withheld
at source with regards to the settlement of said Performance Award (but not in excess of the minimum withholding required by law);
and (ii) with respect to such shares so delivered, enter the Participant’s name on the books of the Company as the shareholder
of record with respect to the shares so delivered to the Participant. Notwithstanding this Section 6(f), if the Participant is
resident or employed outside of the United States, the Company, in its sole discretion, and in any event no longer than sixty (60)
days following the date of such determination and certification, if applicable, may provide for settlement of the Performance Shares
in the form of (i) a cash payment to the extent settlement in shares (1) is prohibited under local law, (2) would require the Participant,
the Company or an Affiliate to obtain the approval of any governmental or regulatory body in the Participant’s country of
residence (or country of employment, if different), (3) would result in adverse tax consequences for the Participant, the Company
or an Affiliate or (4) is administratively burdensome; or (ii) shares, but require the Participant to sell such shares immediately
or within a specified period following the Participant’s Termination of Service to comply with local law, rules and/or regulations
(in which case, the Participant hereby agrees that the Company shall have the authority to issue sale instructions in relation
to such shares on the Participant’s behalf).

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SECTION 7. RESTRICTED
STOCK AND RESTRICTED STOCK UNITS

 

(a) Generally.
Restricted Stock and Restricted Stock Units shall be evidenced by an Award Agreement that shall specify (i) the Date of Grant,
(ii) the number of shares of Restricted Stock and the number of Restricted Stock Units to be granted to each Participant, (iii)
the Restriction Period(s) applicable to the Award (which, in the case of a Canadian Taxpayer, shall not exceed December 31 of the
third calendar year following the year of service for which the Restricted Stock Unit was granted), and (iv) such other terms and
conditions, including rights to dividends or Dividend Equivalents, if any, not inconsistent with the Plan as the Committee shall
determine. No shares of Stock will be issued at the time an Award of Restricted Stock Units is made and the Company shall not be
required to set aside a fund for the payment of any such Awards.

 

(b) Settlement
of Restricted Stock and Restricted Stock Units. At the expiration of the Restriction Period applicable to any Award of Restricted
Stock, the Company shall remove the restrictions applicable to the bookkeeping entry evidencing such Restricted Stock, and shall
evidence the issuance of such shares free of any restrictions imposed under the Plan, which may include the delivery of certificates
representing such shares free and clear of any previously-applicable legends. Following the expiration of the Restriction Period
for any Restricted Stock Units, which in the case of Canadian Taxpayers shall in no event be later than December 31 of the third
calendar year following the year of service for which the Restricted Stock Unit was granted, for each such Restricted Stock Unit,
the Participant shall receive, in the Committee’s discretion, (i) a cash payment equal to the Fair Market Value of one share
of Stock as of such payment date, (ii) one share of Stock or (iii) any combination thereof, less, if applicable, any amount or,
in the case of settlement in shares, the number of shares necessary to cover applicable taxes to be withheld at source for such
settlement of Restricted Stock and Restricted Stock Units (but not in excess of the minimum withholding required by law).

 

SECTION 8. OPTIONS AND
SARS

 

(a) Generally.
Each Option and SAR shall be evidenced by an Award Agreement that shall specify (i) the Date of Grant, (ii) the exercise price
or base value, as applicable, (iii) the duration of the Option or SAR (which in no event shall be later than seven years from the
Date of Grant in the case of a Participant who is a Canadian Taxpayer), (iv) the number of shares of Stock underlying the Option
or SAR, (v) the time or times upon which the Option or SAR or any portion thereof shall become vested (which in no event shall
be later than seven years from the Date of Grant in the case of a Participant who is a Canadian Taxpayer), and (vi) such other
terms and conditions not inconsistent with the Plan as the Committee shall determine, including customary representations, warranties
and covenants with respect to securities law matters.

 

(b) Exercise Price
and Base Value. The Committee shall establish the exercise price or base value, as applicable, at the time each Option or SAR
is granted, which shall not be less than 100% of the Fair Market Value of a share of Stock on the Date of Grant (or 110% of the
Fair Market Value of a Share on the Date of Grant in the case of an Incentive Stock Option granted to a 10% shareholder within
the meaning of Section 422(b)(6)).

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(c) Term.
No Option or SAR shall be exercisable on or after the seventh anniversary of its Date of Grant, provided, however, if a Participant
still holding an outstanding but unexercised Non-statutory Stock Option or SAR ten (10) years from the Date of Grant (or, in the
case of a Non-statutory Stock Option or SAR with a maximum term of less than ten (10) years, such maximum term) is prohibited by
applicable law or a written policy of the Company applicable to similarly situated employees from engaging in any open-market sales
of Stock, and if at such time the Stock is publicly traded (as determined by the Committee), the maximum term of such Award will
instead be deemed to expire on the thirtieth (30th) day following the date the Participant is no longer prohibited from engaging
in such open market sales.

 

(d) Payment of
Exercise Price and Settlement of Award.

 

(i) Options.
No Stock shall be delivered pursuant to any exercise of an Option until payment in full of the exercise price therefor is received
by the Company. Such payment may be made, to the extent permitted by the Committee and legally permissible, through any of the
following methods: (i) in cash or its equivalent, (ii) through an arrangement with a broker approved by the Company (or through
an arrangement directly with the Company) whereby payment of the exercise price is accomplished with the proceeds of the sale of
Stock deliverable upon the exercise of the Option, (iii) through the surrender for cancellation of a portion of the Options with
an aggregate value equal to the aggregate exercise price payable to exercise the remainder of the Option, or (iv) by a combination
of the foregoing methods, provided that the combined value of all cash and cash equivalents, valued as of the date of such tender,
is at least equal to the aggregate exercise price of the Options being exercised, less, if applicable, the number of shares necessary
to cover for applicable taxes to be withheld at source with regards to the settlement of said Option (but not in excess of the
minimum withholding required by law). The Company may not make a loan to a Participant to facilitate such Participant’s exercise
of any of his or her Options or payment of taxes.

 

(ii) SARs.
Upon exercise of a SAR, the Participant shall be entitled to receive payment in the form, as determined by the Committee, of cash
or shares of Stock having a Fair Market Value equal to such cash amount, or a combination thereof, determined by multiplying:

 

(A) any
increase in the Fair Market Value of one share of Stock on the exercise date over the (1) base value as determined under Section
8(b) or (2) with respect to a Canadian Taxpayer, the Fair Market Value of one share of Stock on the date immediately following
the date of the grant, by

 

(B) the
number of shares of Stock with respect to which the SAR is exercised,

 

less, if applicable,
the number of shares necessary to cover for applicable taxes to be withheld at source with regards to the settlement of said SAR
(but not in excess of the minimum withholding required by law).

 

(e) Tandem Awards.
A SAR granted in tandem with an Option shall become vested and exercisable on the same date or dates as the Option with which such
SAR is associated vests and becomes exercisable. A SAR that is granted in tandem with an Option may only be

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exercised upon the surrender
of the right to exercise such Option for an equivalent number of shares of Stock, and may be exercised only with respect to the
shares of Stock for which the related Option is then exercisable.

 

SECTION 9. DEFERRED SHARE
UNITS AND ELECTIVE DSUS

 

(a) Deferred Share
Units, Generally. Deferred Share Units may be granted to Participants at such time or times as shall be determined by the Committee
without regard to any election by a Participant to defer receipt of any compensation or bonus amount payable to him or her. Each
Award of Deferred Share Units shall be evidenced by an Award Agreement that shall specify (i) Date of Grant, (ii) the number of
shares of Stock to which the Deferred Share Units pertain, and (iii) such terms and conditions not inconsistent with the Plan as
the Committee shall determine, including customary representations, warranties and covenants with respect to securities law matters.
Upon the grant of Deferred Share Units, a Participant’s Deferred Share Unit Account shall be credited with the number of
Deferred Share Units awarded to the Participant.

 

(b) Elective DSUs.
The Committee may select, at the time or times as it determines, from those individuals eligible to participate in the Plan pursuant
to Section 5, those individuals who are eligible to receive Elective DSU (as defined below). Subject to the provisions in this
Section 9(b) and such other terms and conditions as the Committee shall determine as are necessary to comply with Section 409A,
to the extent applicable, such a Participant shall be eligible to elect to defer receipt of all or a portion of his or her Eligible
Compensation and/or Eligible Bonus for a Plan Year (the “Deferred Amount”) and in lieu thereof receive an Award
of a number of units (“Elective DSUs”) equal to the greatest whole number which may be obtained by dividing
(i) the Deferred Amount, by (ii) the Fair Market Value of one share of Stock on the date of payment of such Deferred Amount. Upon
the grant of Elective DSUs, a Participant’s Elective DSU Account shall be credited with the number of Elective DSUs so awarded
to such Participant.

 

(i) A Participant
who is eligible under Section (9)(b) to receive an Award of Elective DSUs may elect to defer Eligible Compensation and Eligible
Bonuses (any such deferral accomplished in accordance with this Section 9(b), an “Elective Deferral”) by making
a timely written election in accordance with this 9(b). Each such election shall become irrevocable not later than the applicable
election deadline. The Committee shall establish the applicable election deadline for a deferral election, which deadline shall
in no event be later than (except as provided in Section 9(b)(ii) below) the time set forth below:

 

(A) with
respect to Eligible Compensation or Eligible Bonuses other than those described in subsection (B) below, the last day of the calendar
year preceding the calendar year in which any services relating to the deferred Eligible Compensation or deferred Eligible Bonuses,
as the case may be, are to be performed; and

 

(B) with
respect to an Eligible Bonus, if in the Committee’s determination, the Eligible Bonus will qualify under Section 409A as
“performance-based compensation” that has not yet become readily ascertainable, the date that is six (6) months before
the end of the performance period, but only if the Participant has been in

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continuous employment
with the Employer since the later of the beginning of the performance period or the date the performance criteria are established
and through the date the election is made, provided, however, that in no event may an election to defer such Eligible
Bonus be made after such compensation has become readily ascertainable.

 

In order to receive an Elective DSU for any Plan Year, a Participant
must make an affirmative written election pursuant to this Section 9(b)(i) (or Section 9(b) (ii), if applicable) in respect of
such Plan Year by the applicable election deadline for such Plan Year; provided, however, that (1) the Committee may permit a Participant
or Participants to make an affirmative election in writing that remains in effect for such Plan Year and future Plan Years, unless
changed or revoked prior to the applicable election deadline for the relevant Plan Year, in accordance with such rules and procedures
as the Committee may establish from time to time and consistent, in the Committee’s judgment, with the requirements of Section
409A, to the extent applicable, and (2) an election that is in effect for a Plan Year with respect to the Eligible Compensation
of a Participant who has a Termination of Service during such year shall be deemed to apply to any amounts described in clause
(i) of the definition of Eligible Compensation that are payable for the last pay period that includes such Termination of Service.
Notwithstanding the foregoing, a deferral election made by a Participant who is an Eligible Director for a Plan Year shall apply
to Eligible Compensation payable with respect to services performed in any portion of such Plan Year, and any portion of the Plan
Year that immediately follows such Plan Year, as may be determined in a manner consistent, in the Committee’s judgment, with
the requirements of Section 409A.

 

(ii) Notwithstanding
Section 9(b)(i) above, a Participant who first becomes eligible to receive Elective DSUs pursuant to this Section 9(b) after the
beginning of a calendar year may, if permitted by the Committee, elect to defer Eligible Compensation or Eligible Bonuses for the
remainder of such calendar year by executing an irrevocable deferral election (on a form prescribed by the Committee) with respect
to his or her Eligible Compensation and/or Eligible Bonuses in respect of services to be performed following such election, provided
that such election is submitted to the Company by the election deadline established by the Committee, which shall be no later than
the date that is 30 days after the date the Participant first becomes eligible to receive such Elective DSUs pursuant to Section
9(b). The amount that such a Participant may defer under this Section 9(b)(ii) with respect to Eligible Bonuses based on a specified
performance period may not exceed an amount equal to the total amount of the Eligible Bonuses for the applicable performance period
multiplied by the ratio of the number of days remaining in the performance period after the effective date of the election over
the total number of days in the performance period applicable to the Eligible Bonuses. A Participant who already participates or
is eligible to participate in (including, except to the extent otherwise provided in Section 1.409A-2(a)(7) of the Treasury Regulations,
an individual who has any entitlement, vested or unvested, to payments under) any other nonqualified deferred compensation plan
that would be required to be aggregated with the nonqualified deferred compensation under this Plan for purposes of Section 1.409A-1(c)(2)
of the Treasury Regulations, to the extent applicable, shall not be treated as eligible for the mid-year election rules of this
Section 9(b)(ii) with respect to the Plan, even if he or she had never previously been eligible to receive Elective DSUs under
this Plan itself. For the avoidance of doubt, nothing in this Section 9(b) shall limit the availability of an election under Section
9(b)(i) to the extent consistent with the requirements of Section 409A, to the extent applicable.

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(c) Vesting.
Except with respect to Elective DSUs and any Dividend Equivalents credited with respect thereto, which shall at all times be fully
vested and non-forfeitable, unless the Committee provides otherwise in the applicable Award Agreement, Deferred Share Units shall
be subject to a Restriction Period that shall lapse (i) in the case of Deferred Share Units that vest solely based on the passage
of time, in approximately four equal installments on the first through fourth anniversaries of the Date of Grant, (ii) in the case
of Deferred Share Units granted as Performance Awards in accordance with Section 6, three years after the Date of Grant, but only
to the extent the applicable Performance Goals have been achieved, and (iii) in the case of all Deferred Share Units, upon a Change
in Control, in each case, in accordance with the terms set forth in the Participant’s Award Agreement and subject to the
Participant’s continued Service on each applicable vesting date.

 

(d) Settlement.
Subject to Section 14(o), vested amounts payable under a Participant’s Deferred Share Unit Account and amounts payable under
a Participant’s Elective DSU Account, as applicable, shall be paid or delivered only upon a Termination of Service of such
Participant (including due to death) and shall be paid (i) in the case of a Participant who is a Canadian Taxpayer, no later than
December 31 of the first calendar year commencing after the year in which such Termination of Service occurs, or (ii) in the case
of a Participant who is a U.S. taxpayer, on a date determined by the Committee in its sole discretion, which in all cases shall
be within 75 days following the date of such Termination of Service, it being understood that the Participant shall have no right
to designate the taxable year of the payment. Upon such settlement, in the Committee’s discretion, the Participant shall
receive for each Elective DSU or vested Deferred Share Unit, (i) a cash payment equal to the Fair Market Value of one share of
Stock as of such payment date, (ii) one share of Stock or (iii) any combination thereof, less, if applicable, the number of shares
necessary to cover for applicable taxes to be withheld at source with regards to the settlement of said DSU (but not in excess
of the minimum withholding required by law).

 

(e) Rights as
a Stockholder. With respect to an Award of Deferred Share Units or Elective DSUs, to the extent the Committee provides in an
Award Agreement that Dividend Equivalents will be credited to the Participant’s Deferred Share Unit Account or Elective DSU
Account, as applicable, (i) any cash dividends or distributions credited to the Participant’s Deferred Share Unit Account
or Elective DSU Account, as applicable, shall be deemed to have been invested on the record date established for the related dividend
or distribution in a number of additional Deferred Share Units determined in accordance with Section 10(a), and (ii) if any such
dividends or distributions are paid in shares of Stock or other securities, such shares and other securities shall be subject to
the same vesting, performance and other restrictions as apply to the Deferred Share Units or Elective DSUs to which they relate.
A Participant (or, if applicable, his or her estate) shall not be considered the owner of any shares of Stock underlying Deferred
Share Units or Elective DSUs granted to such Participant and shall not have any rights as a stockholder in respect of Deferred
Share Units or Elective DSUs (including, without limitation, the right to vote on any matter submitted to the Company’s stockholders)
until such time as the shares of Stock, if any, have been issued to such Participant (or his or her estate) under such Award of
Deferred Share Units or Elective DSUs.

 

(f) Compliance
with Canadian Tax Laws. In the case of a Participant who is a U.S. taxpayer, if payment or settlement of the Participant’s
Deferred Share Unit Account or Elective

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DSU Account otherwise
would be required to be made pursuant to the Canadian tax laws at a time when payment is not permitted to be made in accordance
with the Code, then notwithstanding any other provision of this Section 9, such payment shall be made to a trustee to be held in
trust for the benefit of the U.S. taxpayer in a manner that causes the payment to be included in the U.S. taxpayer’s income
under the Code and does not violate the Canadian tax rules, provided, however, that if the Committee determines that such payment
would not comply with the requirements of the Code, then the Committee shall direct that such payment be paid in such manner and/or
at such time that so complies with the requirements of the Code to the extent reasonably possible.

 

SECTION 10. DIVIDEND EQUIVALENTS;
OTHER AWARDS

 

(a) Dividend Equivalents.
The Committee may provide for the payment of Dividend Equivalents (on terms and subject to conditions established by the Committee)
with respect to Stock subject to an Award whether or not the holder of such Award is otherwise entitled to share in the actual
dividend or distribution in respect of such Award. Any entitlement to Dividend Equivalents or similar entitlements will be established
and administered either consistent with an exemption from, or in compliance with, the requirements of Section 409A to the extent
applicable. With respect to any Award, the amount of any Dividend Equivalents to be paid, if any, to the Participant shall equal
the product of the amount of the dividend declared and paid per share of Stock multiplied by the number of shares underlying the
Award held by the Participant on the record date for the payment of such dividend. Dividend Equivalents payable to a Participant
shall be subject to and vest and be paid in accordance with the terms of the Award to which they relate. The foregoing does not
obligate the Company to declare or pay dividends on shares of Stock and nothing in this Plan shall be interpreted as creating such
an obligation.

 

(b) Other Awards.
The Committee may grant Unrestricted Stock, Stock Units and other Awards that are convertible into or otherwise based on Stock,
including, but not limited to, in satisfaction of obligations of the Company or any of its Affiliate under another compensatory
plan, program or arrangement. All such Awards shall be evidenced by an Award Agreement that shall specify the terms and conditions
applicable thereto (which need not be uniform in application to all (or any class of) Participants), including the effect of a
Termination of Service upon the rights of a Participant in respect of such Award.

 

SECTION 11. TERMINATION
OF SERVICE

 

Unless otherwise set forth in an Award Agreement
or as otherwise determined by the Committee (including, without limitation, in connection with a Change in Control) and subject
in all cases to Section 14(o), the following rules shall apply to outstanding Awards upon a Participant’s Termination of
Service.

 

(a) Termination
Due to Death. If a Participant’s Service terminates due to the Participant’s death:

 

(i) With respect
to each Performance Award, the Participant’s estate shall be entitled to a distribution of, and such Performance Award shall
be deemed immediately vested to

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the extent of, the same
number of shares of Stock or value underlying the Performance Award(without pro-ration) that would have been payable for the applicable
Performance Cycle had the Participant’s Service continued until the end of the applicable Performance Cycle as if the applicable
Performance Goals had been achieved at the target level of performance. Any cash payable or Stock issuable in respect of such Performance
Awards shall be paid on the earlier of (x) the date the Performance Award would have been paid had the Participant remained in
Service through the original payment date and (y) January 31 of the year following the Participant’s death.

 

(ii) All Service
Awards shall immediately vest.

 

(iii) All Service
Awards (other than Options and SARs) shall be paid as soon as practicable after the Company has received notice in writing of such
death, provided, however, that such payment must be made before December 31st of the year following the year of death
of a Canadian Taxpayer in respect to his or her Deferred Share Unit and Elected DSU.

 

(iv) All Options
and SARs shall remain outstanding and exercisable until the first anniversary of the date of death or the Award’s normal
expiration date, whichever is earlier, after which any unexercised Options and SARs shall immediately terminate.

 

(b) Termination
Due to Disability. If a Participant’s Service terminates due to the Participant’s Disability:

 

(i) With respect
to each Performance Award, the Participant or his or her legal representative, if applicable, shall be entitled to a distribution
of, and such Performance Award shall be deemed vested to the extent of, the same number of shares of Stock or value underlying
such Performance Award (without pro-ration) that would have been payable with respect to such Performance Award for the applicable
Performance Cycle had the Participant’s Service continued until the end of the applicable Performance Cycle, subject to satisfaction
of the applicable Performance Goals. Any cash payable or Stock issuable in respect of such Performance Awards shall be paid at
the same time as the Awards are paid to other Participants (or at such earlier time as the Committee may permit).

 

(ii) All Service
Awards shall immediately vest.

 

(iii) All Service
Awards (other than Options and SARs) shall be paid on the earlier of (x) the date the Award would have been paid had the Participant
remained in Service through the original payment date and (y) January 31 of the year following the Participant’s date of
termination due to Disability.

 

(iv) All Options
and SARs shall remain outstanding and exercisable until the first anniversary of the date of termination or the Award’s normal
expiration date, whichever is earlier, after which any unexercised Options and SARs shall immediately terminate.

 

(c) Retirement.
If a Participant’s Service terminates due to the Participant’s Retirement,

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(i) With respect
to each Performance Award, the Participant shall be entitled to a distribution of, and such Performance Award shall be deemed vested
to the extent of, the number of shares of Stock or value underlying the Performance Award that would have been payable for the
applicable Performance Cycle had the Participant’s Service continued until the end of the applicable Performance Cycle, subject
to satisfaction of the applicable Performance Goals, multiplied by a fraction, the numerator of which is the number of days that
have elapsed from the commencement of the Performance Cycle through the date of the Participant’s Retirement and the denominator
of which is the number of days in the Performance Cycle, and the remainder of each such Performance Award shall be immediately
cancelled and forfeited for no consideration as of the date of such Retirement. Any cash payable or Stock issuable in respect of
such Performance Awards shall be paid at the same time as the Performance Awards are paid to other Participants (or at such earlier
time as the Committee may permit).

 

(ii) Service Awards
shall be deemed vested to the extent of the number of shares of Stock underlying such Service Award multiplied by a fraction, the
numerator of which is the number of days elapsed from the Date of Grant of the Service Award through the date of the Participant’s
Retirement and the denominator of which is the number of days from the Date of Grant of the Service Award through the date such
Service Award would have vested had the Participant’s Service continued through the original service period, and the remainder
of each such Award shall be cancelled and forfeited for no consideration as of the date of such Retirement.

 

(iii) Service Awards
(other than Options and SARs), to the extent vested (including by reason of Section 11(c)(ii)), shall be paid on the earlier of
(x) the date the Service Award would have been paid (or the Restricted Period would have lapsed) had the Participant remained in
Service through the original payment date and (y) January 31 of the year following the year of the Participant’s Retirement.
All vested Options and SARs shall remain outstanding until the first anniversary of the date of the Participant’s Retirement
or the Award’s normal expiration date, whichever is earlier, after which any unexercised Options and SARs shall immediately
terminate. To the extent any such Options are Incentive Stock Options, the exercise of such Options after the three-month period
following the Participant’s Retirement shall be treated as the exercise of a Non-Statutory Option. The Committee may condition
the vesting, distribution, exercise or continuation of such Awards following Retirement on the Participant’s refraining from
engaging in conduct that is detrimental to the Company (including, without limitation, competing with the Company or soliciting
employees or customers of the Company) following Retirement.

 

(d) Termination
for Cause. If a Participant’s Service is terminated by the Company or any of its Affiliates for Cause, all Options and
SARs, whether vested or unvested, and all other Awards that are unvested shall be immediately cancelled and forfeited for no consideration,
effective as of the date of the Participant’s Termination of Service.

 

(e) Resignation
by Participant. If a Participant’s Service is terminated due to Participant’s resignation, all unvested Awards
shall be immediately forfeited and cancelled for no consideration, effective as of the date of the Participant’s Termination
of Service. All vested Options and SARs shall remain outstanding and exercisable until the earlier of (i) the date that is ninety
(90) days following the date of the Participant’s Termination of Service or until the

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Award’s normal
expiration date, after which any unexercised Options and SARs shall immediately terminate.

 

(f) Any Other
Termination of Service. If a Participant’s Service is terminated by the Company for any reason other than Participant’s
death, Disability, Retirement, resignation or by the Company for Cause (or the Company or any of its Affiliates terminates the
Service of the company or partnership of an individual Consultant),

 

(i) All Performance
Awards for which the Performance Cycle has been completed and which are earned but unpaid as of the date of the Participant’s
Termination of Service shall be paid at the same times as the Performance Award is paid to other Participants.

 

(ii) Except as provided
under this Section 11(f), all Awards that are unvested shall be immediately forfeited and canceled for no consideration as of the
date of the Participant’s Termination of Service, unless the Committee decides to accelerate the vesting of unvested Awards
as it deems appropriate.

 

(iii) All vested
Options and SARs shall remain outstanding and exercisable until the earlier of (i) the date that is ninety (90) days following
the date of the Participant’s Termination of Service or until the Award’s normal expiration date, after which any unexercised
Options and SARs shall immediately terminate.

 

(iv) The number of
shares underlying awards of Restricted Stocks and Restricted Stock Units that are unvested as of the date of such termination will
immediately vest in an amount equal to (i) the product obtained by multiplying (A) the total number of shares underlying the award
by (B) a fraction, the numerator of which is the number of days in the period beginning on the Date of Grant and ending on the
six-month anniversary of the date of such Termination of Service, and the denominator of which is the number of days in the period
beginning on the Date of Grant and ending on the third anniversary of the Date of Grant, minus (ii) the number of shares underlying
the award that had vested pursuant to the vesting schedule as of the date of termination. The portion of any award of Restricted
Stocks and Restricted Stock Units that is unvested and does not vest after application of the preceding sentence will be immediately
forfeited upon the effective date of such termination without any payment or consideration due by the Company or any Affiliate.

 

(v) The number of
shares underlying Performance Awards that are outstanding as of the date of such termination will immediately become earned and
vested in an amount equal to (i) the product obtained by multiplying (A) the total number of shares underlying the Performance
Awards by (B) a fraction, the numerator of which is the number of days in the period beginning on the Date of Grant and ending
on the six-month anniversary of the date of such Termination of Service, and the denominator of which is the number of days in
the period beginning on the Date of Grant and ending on the third anniversary of the Date of Grant, minus (ii) the number of shares
underlying the Performance Awards that had vested pursuant to the vesting schedule as of the date of termination, and (iii) the
assessment of the Company’s performance for the period beginning on the Grand Date and ending on the date of such termination.
The Portion of any Performance Awards that do not vest after application of

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the preceding sentence
will be immediately forfeited upon the effective date of such termination without any payment or consideration due by the Company
or any Affiliate.

 

(g) Deferred Share
Units and Elective DSUs. Notwithstanding anything in this Section 11 to the contrary, the time of payment or settlement of
any amounts under a Participants Deferred Share Unit Account or Elective DSU Account in respect of Deferred Share Units or Elective
DSUs, as applicable, shall at all times be made in accordance with Section 9(d).

 

SECTION 12. CHANGE IN
CONTROL

 

(a) Change in
Control. Unless otherwise determined by the Committee in an Award Agreement or otherwise, in the event of a Change in Control,

 

(i) the Committee
may, without the consent of any Participant, but need not, take such steps as are necessary or desirable to cause the conversion
or exchange of any outstanding Awards into or for, rights or other securities of substantially equivalent value (or greater value),
as determined by the Board in its discretion, having due regard for the qualification of incentive stock options under Section
422, the requirements of Section 409A and the performance-based compensation rule of Section 162(m), where applicable, in any entity
participating in or resulting from a Change in Control (each, an “Alternative Award”).

 

(ii) if no Alternative
Awards are available, the Committee may, without the consent of any Participant, but need not, provide that, immediately prior
to the consummation of the transaction constituting the Change in Control,

 

(A) all
unvested Service Awards shall vest;

 

(B) each
outstanding Performance Award with a Performance Cycle in progress at the time of the Change in Control shall be deemed to be earned
and become vested and payable in an amount equal to the product of (x) such Participant’s target award opportunity
with respect to such Award for the Performance Cycle in question and (y) the percentage of the Performance Cycle that has
been completed), and all other Performance Share Units and other Performance Awards shall lapse and be canceled and forfeited for
no consideration upon consummation of the Change in Control;

 

(C) all
Restricted Stock, Restricted Stock Units, Performance Awards and other stock-based Awards, other than Deferred Share Units and
Elective DSUs, that are to be settled in newly-issued shares of Stock and are vested (by virtue of this Section 12(a) or otherwise)
shall be issued or released to the Participant holding such Award; and

 

(D) except
as provided in Section 12(a)(ii)(C), for all Awards (other than Deferred Share Units and Elective DSUs) that are then vested (by
virtue of this Section 12(a) or otherwise), the Participant shall be entitled to a cash payment equal to the product of (1)(x)
in the case of Options and SARs, the excess, if any, of the Fair Market Value of a share of Stock paid on the day the Change in
Control Transaction occurs over the exercise price for such Option or SAR or (y) in the case of all other vested Awards, the Fair
Market Value of a share of Stock on the day the Change in Control Transaction occurs, the per-share consideration generally payable
to shareholders

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in the Change
in Control Transaction occurs, multiplied by (2) the aggregate number of shares of Stock covered by such Award; and if the exercise
or purchase price (or base value) of an Option or SAR is equal to or greater than the Fair Market Value of a share of Stock on
the day the Change in Control Transaction occurs, the Option or SAR shall be cancelled with no payment due hereunder.

 

(b) Termination
of Service other than for Cause within 12 Months Following a Change in Control. Unless otherwise determined by the Committee
at or after the time of grant, any Participant whose Service is terminated by his or her Employer for any reason other than for
Cause within twelve (12) months following the consummation of a Change in Control, then with respect to all Awards granted to the
Participant prior to the date of the consummation of the Change in Control which were still outstanding at the time such Termination
of Service (A) all such Awards which are unvested Service Awards shall vest and to the extent exercisable shall remain exercisable
until the earlier of the one-year anniversary of such Termination of Service or until the Award’s normal expiration date;
and (B) each such Award which is a Performance Award with a Performance Cycle in progress at the time of the Termination of Service
shall be deemed to be earned and shall become vested and payable in an amount equal to such Participant’s target award opportunity
with respect to such Award for the Performance Cycle in question, and settlement of all such Awards shall occur no later than 30
days after the date of the Termination of Service.

 

(c) Committee
Discretion. Notwithstanding anything in this Section 12 to the contrary, except as otherwise provided in an Award Agreement,
if the Committee as constituted immediately prior to the Change in Control determines in its sole discretion, then any or all Awards
(other than Deferred Share Units and Elective DSUs) may be canceled in exchange for a cash payment equal to (x)(A) in the case
of Option and SAR Awards that are vested (as provided in Section 12(a) or otherwise), the excess, if any, of price per share of
Stock in the Change in Control Transaction over the exercise price for such Option or SAR and (B) in the case of all other Awards
that are vested (as provided in Section 12(a) or otherwise), the price per share of Stock in the Change in Control Transaction
(with each outstanding Performance Award with a Performance Cycle in progress at the time of the Change in Control being deemed
to have met its Performance Goals at the Participant’s target award opportunity with respect to such Award for the Performance
Cycle in question), multiplied by (y) the aggregate number of shares of Stock covered by such Award; and if the exercise or purchase
price (or base value) of an Option or SAR is equal to or greater than the tprice per share of Stock in the Change in Control Transaction,
the Option or SAR shall be cancelled with no payment due hereunder. The Committee may, in its sole discretion, accelerate the exercisability
or vesting or lapse of any Restriction Period with respect to all or any portion of any outstanding Award immediately prior to
the consummation of the transaction constituting the Change in Control. For purposes of this Section 12(c), if the consideration
in the Change of Control Transaction includes non-cash consideration, the fair market value of such non-cash consideration shall
be determined by the Committee.

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SECTION 13. EFFECTIVE
DATE, AMENDMENT, MODIFICATION, AND TERMINATION OF THE PLAN

 

(a) The Plan shall
be effective on the Effective Date, and shall continue in effect, unless sooner terminated pursuant to this Section 13, until the
tenth anniversary of the Effective Date. The Board may at any time or times amend the Plan or any outstanding Award for any purpose
which may at the time be permitted by law, and may at any time terminate the Plan as to any future grants of Awards; provided,
however, that, except as otherwise expressly provided in the Plan, the Board or the Committee may not, without the Participant’s
consent, alter the terms of an Award so as to affect materially and adversely the Participant’s rights under the Award, unless
the Committee expressly reserved the right to do so at the time the Award was granted. Stockholder approval shall not be required
for any amendment or modification to the Plan except as set out in Section 13(b).

 

(b) The approval
by a majority of the votes cast at a duly constituted meeting of shareholders of the Company shall be required for any amendment
or modification to the Plan which (i) except as otherwise expressly provided in Section 4(e), increases the number of shares of
Stock subject to the Plan or the individual Award limitations specified in Section 4(c), (ii) modifies the class of persons eligible
for participation in the Plan (iii) allows Options to be issued with an exercise price below Fair Market Value on the date of grant
(iv) extends the term of any Award granted under the Plan beyond its original expiration date (v) permits an Award to be exercisable
beyond 10 years from its Date of Grant (except where an Expiry Date would have fallen within a blackout period of the Company),
(vi) permits Awards to be transferred other than for normal estate settlement purposes; or (vii) deletes or reduces the range of
amendments which require approval of the holders of voting shares of the Company under this Section 13, or otherwise required by
law.

 

SECTION 14. GENERAL PROVISIONS

 

(a) Legal Conditions
to the Delivery of Stock. The Company will not be obligated to deliver any shares of Stock pursuant to the Plan or to remove
any restriction from shares of Stock previously delivered under the Plan until: (i) the Company is satisfied that all legal matters
in connection with the issuance and delivery of such shares have been addressed and resolved; (ii) if the outstanding Stock is
at the time of delivery listed on any stock exchange or national market system, the shares to be delivered have been listed or
authorized to be listed on such exchange or system upon official notice of issuance; and (iii) all conditions of the Award have
been satisfied or waived. The Company may require, as a condition to exercise of the Award, such representations or agreements
as counsel for the Company may consider appropriate to avoid violation of the Securities Act of 1933, as amended, and of Regulation
45-106 respecting Prospectus Exemptions (Quebec), as amended, or any applicable state or non-U.S. securities law. Any Stock required
to be issued to Participants under the Plan will be evidenced in such manner as the Committee may deem appropriate, including book-entry
registration or delivery of stock certificates. In the event that the Committee determines that Stock certificates will be issued
to Participants under the Plan, the Committee may require that certificates evidencing Stock issued under the Plan bear an appropriate
legend reflecting any restriction on transfer applicable to such Stock, and the Company may hold the certificates pending lapse
of the applicable restrictions.

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(b) Withholding.
The delivery, vesting (including the lapsing of an applicable Restriction Period), and retention of Stock, cash or other property
under an Award are conditioned upon full satisfaction by the Participant of all tax withholding requirements with respect to the
Award. The Employer shall have the right to deduct from all amounts paid to a Participant in cash (whether under this Plan or otherwise)
any amount of taxes required by law to be withheld in respect of Awards under the Plan as may be necessary, in the opinion of the
Employer, to satisfy tax withholding required under the laws of any country, state, province, city or other jurisdiction, including
but not limited to income taxes, capital gains taxes, transfer taxes, and social security contributions that are required by law
to be withheld. In the case of payments of Awards in the form of Stock, the Participant shall be required to pay to the Employer
the amount of any taxes required to be withheld with respect to such Stock or, the Committee in its discretion may provide that,
in lieu thereof, the Employer shall have the right to retain shares of Stock otherwise deliverable under the Award or the Participant
shall have the right to tender previously- acquired shares of Stock not subject to any restrictions, in either case, having a Fair
Market Value equal to the amount required to be withheld (but not in excess of the minimum withholding required by law).

 

(c) Non-transferability
of Awards. Except as provided herein or in an Award Agreement, no Award may be sold, assigned, transferred, pledged or otherwise
encumbered except by will or the laws of succession or of descent and distribution or, in the case of awards other than Incentive
Stock Options, to a Permitted Assign except for Awards subject to 409A if transfer to a Permitted Assign would be prohibited by
Section 409A. No amendment to the Plan or to any Award shall permit transfers other than in accordance with the preceding sentence.
Any attempt by a Participant to sell, assign, transfer, pledge or encumber an Award without complying with the provisions of the
Plan shall be void and of no effect. Except to the extent required by law, no right or interest of any Participant shall be subject
to any lien, obligation or liability of the Participant. All rights with respect to Awards granted to a Participant under the Plan
shall be exercisable during the Participant’s lifetime only by such Participant or his or her estate or, if applicable (in
the case of awards other than the Incentive Stock Options), his or her Permitted Assign(s). The rights of a Permitted Assign shall
be limited to the rights conveyed to such Permitted Assign, who shall be subject to and bound by the terms of the Plan, the applicable
Award Agreement and any other applicable agreement or agreements between the Participant and the Company and/or any of its Affiliates.
In the event of a transfer of an Award to a Permitted Assign, the provisions of Section 11 shall apply to the Award as if the Award
was held by the original Participant rather than their Permitted Assign. In the event of the death of the Permitted Assign, the
Award shall be automatically transferred to the Participant who effected the transfer of the Award to the deceased Permitted Assign.
If any Participant has transferred Awards to a corporation pursuant to this Section 14(c), such Awards will terminate and be of
no further force or effect if at any time the transferor should cease to own all of the issued shares of such corporation.

 

(d) No Limitation
on Compensation. Nothing in the Plan shall be construed to limit the right of the Company to establish other plans or to pay
compensation to its Employees, in cash or property, in a manner which is not expressly authorized under the Plan.

 

(e) No Right to
Employment or Service. No person shall have any claim or right to be granted an Award, and the grant of an Award shall not
be construed as giving a Participant the

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right to be retained
in the employ or service of the Employer. The grant of an Award hereunder, and any future grant of Awards under the Plan is entirely
voluntary, and at the complete discretion of the Committee. Neither the grant of an Award nor any future grant of Awards by the
Company shall be deemed to create any obligation to grant any further Awards, whether or not such a reservation is explicitly stated
at the time of such a grant. The Plan shall not be deemed to constitute, and shall not be construed by the Participant to constitute,
part of the terms and conditions of employment and participation in the Plan shall not be deemed to constitute, and shall not be
deemed by the Participant to constitute, an employment or labor relationship of any kind with the Company. The Employer expressly
reserves the right at any time to dismiss a Participant free from any liability, or any claim under the Plan, except as provided
herein and in any agreement entered into with respect to an Award. By accepting or being deemed to have accepted an Award, a Participant
will be deemed to have agreed to the terms of the Plan and any applicable Award Agreement, including, without limitation, this
Section 14(e). The loss of existing or potential profit in Awards will not constitute an element of damages in the event of a Termination
of Service for any reason, even if such termination is in violation of an obligation of the Company or any Affiliate to the Participant.

 

(f) Privacy.
Each Participant shall provide the Company with all information (including personal information) required by the Company in order
to administer to the Plan. Each Participant acknowledges that information required by the Company in order to administer the Plan
may be disclosed to any custodian appointed in respect of the Plan and other third parties, and may be disclosed to such persons
(including persons located in jurisdictions other than the Participant’s jurisdiction of residence), in connection with the
administration of the Plan. To the extent permitted by law, each Participant consents to such disclosure and authorizes the Company
to make such disclosure on the Participant’s behalf.

 

(g) Conflict.
In the event of any conflict between the provisions of this Plan and an Award Agreement, the provisions of this Plan shall govern.

 

(h) Participation.
The participation of any Participant in the Plan is entirely voluntary and not obligatory.

 

(i) No Rights
as Shareholder. Subject to the provisions of the applicable Award contained in the Plan and in the Award Agreement, no Participant,
Permitted Assigns or Participant’s estate Beneficiary shall have any rights as a shareholder with respect to any shares of
Stock underlying an Award except as to shares actually issued.

 

(j) Coordination
with Other Plans. Awards under the Plan may be granted in tandem with, or in satisfaction of or substitution for, other Awards
under the Plan or awards made under other compensatory plans or programs of the Company or its Affiliates. For example, but without
limiting the generality of the foregoing, awards under other compensatory plans or programs of the Company or its Affiliates may
be settled in Stock (including, without limitation, Unrestricted Stock) if the Committee so determines, in which case the shares
delivered will be treated as awarded under the Plan (and will reduce the number of shares thereafter available under the Plan in
accordance with the rules set forth in Section 4). In any case where an award is made under another plan or program of the Company
or its Affiliates and such award is intended to qualify for the performance-based compensation exception under Section 162(m),
and such

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award is settled by the
delivery of Stock or another Award under the Plan, the applicable Section 162(m) limitations under both the other plan or program
and under the Plan will be applied to the Plan as necessary (as determined by the Committee) to preserve the availability of the
Section 162(m) performance-based compensation exception with respect thereto.

 

(k) Construction
of the Plan. The validity, construction, interpretation, administration and effect of the Plan and of its rules and regulations,
and rights relating to the Plan, shall be determined solely in accordance with the laws of the State of Delaware (without reference
to the principles of conflicts of law) and for Canadian Taxpayers, with the laws of the Province of Quebec and Canadian Federal
laws applicable.

 

(l) Jurisdiction.
By accepting an Award, each Participant will be deemed to (i) have submitted irrevocably and unconditionally to the jurisdiction
of the courts of the Province of Quebec, judicial district of Montreal, for the purpose of any suit, action or other proceeding
arising out of or based upon the Plan or any Award; (ii) have agreed not to commence any suit, action or other proceeding arising
out of or based upon the Plan or an Award, except in the courts of the Province of Quebec, judicial district of Montreal; and (iii)
have waived, and agreed not to assert, by way of motion as a defense or otherwise, in any such suit, action or proceeding, any
claim that it is not subject personally to the jurisdiction of the above-named courts that its property is exempt or immune from
attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action
or proceeding is improper or that the Plan or an Award or the subject matter thereof may not be enforced in or by such court.

 

(m) Deferrals.
Subject to the requirements of Section 409A to the extent applicable, the Committee may postpone the exercising of Awards, the
issuance or delivery of Stock under, or the payment of cash in respect of, any Award or any action permitted under the Plan, upon
such terms and conditions as the Committee may establish from time to time. Subject to the requirements of Section 409A to the
extent applicable, a Participant may electively defer receipt of the shares of Stock or cash otherwise payable in respect of any
Award (including, without limitation, any shares of Stock issuable upon the exercise of an Option other than an Incentive Stock
Option) upon such terms and conditions as the Committee may establish from time to time.

 

(n) 409A Compliance.

 

(i) Each Award Agreement
will contain such terms as the Committee determines, and will be construed and administered, such that the Award either qualifies
for an exemption from the requirements of Section 409A or satisfies such requirements. Notwithstanding any provision of this Plan
or any Award Agreement to the contrary, the Board may unilaterally amend, modify or terminate the Plan or any outstanding Award,
including but not limited to changing the form of Award, if the Board determines, in its sole discretion, that such amendment,
modification or termination is necessary or advisable to comply with applicable U.S. or Canadian law as a result of changes in
law or regulation or to avoid the imposition of an additional tax, interest or penalty under Section 409A.

 

(ii) If a Participant
is deemed on the date of the Participant’s Termination of Service to be a “specified employee” within
the meaning of that term under Section

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409A(a)(2)(B), then,
with regard to any payment that is considered nonqualified deferred compensation under Section 409A, to the extent applicable,
payable on account of a “separation from service”, such payment shall be made or provided at the date which
is the earlier of (i) the expiration of the six-month period measured from the date of such “separation from service”
and (b) the date of the Participant’s death (the “Delay Period”). Upon the expiration of the Delay Period,
all payments delayed pursuant to this Section 14(o) (whether they would have otherwise been payable in a single lump sum or in
installments in the absence of such delay) shall be paid on the first business day following the expiration of the Delay Period
in a lump sum and any remaining payments due under the Award shall be paid in accordance with the normal payment dates specified
for them in the applicable Award Agreement.

 

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

 

(iv) With respect
to any Award that is considered “deferred compensation” subject to Section 409A of the Code, references in the Plan
to “termination of employment” (and substantially similar phrases) shall mean “separation from service”
within the meaning of Section 409A of the Code.

 

(o) Limitation
of Liability. Notwithstanding anything to the contrary in the Plan, neither the Company, nor any Affiliate, nor the Committee,
nor any person acting on behalf of the Company, any Affiliate, or the Committee, will be liable to any Participant or to the estate
or beneficiary of any Participant or to any other holder of an Award by reason of any acceleration of income, or any additional
tax (including any interest and penalties), asserted by reason of the failure of an Award to satisfy the requirements of Section
409A or by reason of Section 4999 of the Code, or otherwise asserted with respect to the Award.

 

(p) No Impact
on Benefits. Except as may otherwise be specifically stated under any employee benefit plan, policy or program, no amount payable
in respect of any Award shall be treated as compensation for purposes of calculating a Participant’s right under any such
plan, policy or program.

 

(q) No Constraint
on Corporate Action. Nothing in this Plan shall be construed (a) to limit, impair or otherwise affect the Company’s right
or power to make adjustments, reclassifications, reorganizations or changes of its capital or business structure, or to merge or
consolidate, or dissolve, liquidate, sell, or transfer all or any part of its business or assets or (b) to limit the right or power
of the Company, or any of its Affiliates, to take any action which such entity deems to be necessary or appropriate.

 

(r) Data Protection.
By participating in the Plan or accepting any rights granted under it, each Participant consents to the collection and processing
of personal data relating to the Participant so that the Company and its Affiliates can fulfill their obligations and exercise
their rights under the Plan and generally administer and manage the Plan. This data will include, but may not be limited to, data
about participation in the Plan and shares offered or received, purchased, or sold under the Plan from time to time and other appropriate
financial and other data (such as the date on which the Awards were granted) about the Participant and the Participant’s
participation in the Plan.

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(s) No Obligation
to Exercise Awards; No Right to Notice of Expiration Date. The grant of an Award of an Option or Stock Appreciation Right will
impose no obligation upon the Participant to exercise the Award. The Company, its Subsidiaries and the Committee have no obligation
to inform a Participant of the date on which any Award lapses except in the Award Agreement.

 

(t) Furnishing
Information. A Participant will cooperate with the Committee by furnishing any and all information requested by the
Committee and take such other actions as may be requested in order to facilitate the administration of the Plan and the payments
of benefits hereunder, including but not limited to taking such physical examinations as the Committee may deem necessary when
eligibility or entitlement to any compensation or benefit based on any matter relating to the Disability of the Participant is
at issue.

 

(u) Right of Offset.
Subject to applicable law, the Company will have the right to offset against its obligation to deliver shares of Common Stock (or
other property or cash) under the Plan or any Award Agreement any outstanding amounts (including, without limitation, travel and
entertainment or advance account balances, loans, repayment obligations under any Awards, or amounts repayable to the Company pursuant
to tax equalization, housing, automobile, or other employee programs) that the Participant then owes to the Company and any amounts
the Committee otherwise deems appropriate pursuant to any tax equalization policy or agreement. Notwithstanding the foregoing,
if an Award is “deferred compensation” subject to Section 409A of the Code, the Committee will have no right to offset
against its obligation to deliver shares of Common Stock (or other property or cash) under the Plan or any Award Agreement if such
offset could subject the Participant to the additional tax imposed under Section 409A of the Code in respect of an outstanding
Award.

 

(v) Headings and
Captions. The headings and captions herein are provided for reference and convenience only, shall not be considered part of
this Plan, and shall not be employed in the construction of this Plan.

    	31Exhibit 10.10

 

Clementia
pharmaceuticals INC.

 

EMPLOYEE
STOCK PURCHASE PLAN

 

Article 1—Purpose

 

This Employee Stock Purchase Plan (the “Plan”)
is intended to encourage share ownership by all eligible employees of Clementia Pharmaceuticals Inc. (the “Company”),
and each of its Participating Subsidiaries, so that they may participate in any future growth of the Company by acquiring or increasing
their interest in common shares of the Company. The Plan is designed to encourage eligible employees to remain in the employ of
the Company and its Participating Subsidiaries. The Plan is intended to constitute an “employee stock purchase plan”
within the meaning of Section 423 of the United States Internal Revenue Code of 1986, as amended (the “Code”)
and shall be construed and administered in a manner consistent with such Code section.

 

Article 2—Definitions

 

The term “Affiliate” means
any entity, other than a Subsidiary, that (a) directly or indirectly, is controlled by, controls or is under common control with,
the Company, or (b) any entity in which the Company has a significant equity interest, in either case as determined by the Committee,
whether now or hereafter existing.

 

The term “applicable law”
means any applicable law, domestic or foreign, including without limitation, applicable securities legislation, together with all
regulations, rules, policy statements, rulings, notices, orders or other instruments thereunder and the rules of each securities
exchange or quotation system on which securities of the Company are listed and posted for trading.

 

The term “Average Market Price”
of a share of Stock on any date means the reported closing price of the Stock on the NASDAQ Global Market listing on such date,
or if no sale is so reported, the reported closing price of Stock on such exchange on the immediately preceding day on which the
Stock was traded.

 

The term “business day”
means a day on which there is trading on the NASDAQ Global Market listing or, if the Common Shares do not trade on the NASDAQ Global
Market listing, the securities exchange on which the greatest volume of trading of the Common Shares in the respective period has
occurred; and if neither is applicable, a day that is not a Saturday, Sunday or statutory holiday in the Province of Quebec.

 

The term “Code” has the
meaning set forth in Article 1.

 

The term “Common Shares”
has the meaning set forth in Article 5.

 

The term “eligible employee”
means an individual who is eligible as determined in accordance with Article 4.

    	 

    	

    

The term “Insider” means an insider
of the Company or an Affiliate or Subsidiary as defined in section 89 of the Securities Act (Quebec).

 

The term “Employee and Insider
Trading Policy” refers to the insider trading policy of the Company, pursuant to which directors and certain officers
and employees of the Company and participating Subsidiaries are prohibited from trading in securities of the Company during regularly
scheduled and additional periods referred to as “closed window periods”.

 

The term “Offering” means
an offer under the Plan of Purchase Rights which will automatically be exercised at the end of a Purchase Period, all as further
described in Article 7 and Article 8. Unless otherwise specified by the Committee, each Offering under the Plan to the eligible
employees of the Company or a Participating Subsidiary shall be deemed a separate Offering, even if the dates of the applicable
Purchase Period of each such Offering are identical, and the provisions of the Plan will separately apply to each Offering. For
clarity, there is only one Purchase Period per Offering.

 

The term “Parent” means
a “parent corporation” with respect to the Company, as defined in Section 424(e) of the Code.

 

The term “Participant”
means an individual who is eligible as determined in accordance with Article 4 to participate in the Plan and who has complied
with the provisions of Article 9.

 

The term “Participating Subsidiary”
shall mean any present or future Subsidiary that is designated from time to time by the Board to participate in the Plan. The Board
shall have the power to make such designation before or after the Plan is approved by the shareholders.

 

The term “Purchase Date”
has the meaning set forth in Article 7.

 

The term “Purchase Period”
has the meaning set forth in Article 6.

 

The term “Purchase Price”
has the meaning set forth in Article 7.

 

The term “Purchase Right”
means a right to purchase Common Shares in accordance with the provisions of this Plan.

 

The term “securities exchange”
means the NASDQQ Global Market listing or, if the Common Shares are not then listed and posted for trading on the NASDAQ Global
Market listing, such other securities exchange on which such Common Shares are listed and posted for trading as may be selected
for such purpose by the Committee.

 

The term “Subsidiary”
means a “subsidiary corporation” with respect to the Company, as defined in Section 424(f) of the Code.

 

Article 3—Administration
of the Plan

 

The Plan will be administered by the Compensation
Committee (the “Committee”) of the Company’s board of directors (the “Board”). Acts
by a majority of the Committee, or acts reduced to or approved in writing by a majority of the members of the Committee, shall
be the

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valid acts of the Committee. For any period
during which no such committee is in existence, “Committee” shall mean the Board and all authority and responsibility
assigned to the Committee under the Plan shall be exercised, if at all, by the Board, and the term “Committee”
wherever used herein shall be deemed to mean the Board.

 

The Committee has the full discretionary
authority (consistent with and subject to the provisions of Section 423 of the Code and related regulations) at any time to: (i)
adopt, alter and repeal such rules, guidelines and practices for the administration of the Plan and for its own acts and proceedings
as it shall deem advisable (including, without limitation, to adopt such procedures and sub-plans as are necessary or appropriate
to permit the participation in the Plan by employees who are not subject to tax under the Code); (ii) interpret the terms and provisions
of the Plan; (iii) make all determinations it deems advisable for the administration of the Plan; (iv) designate separate Offerings
under the Plan; (v) decide all disputes arising in connection with the Plan; and (vi) otherwise supervise the administration of
the Plan. All interpretations and decisions of the Committee shall be binding on all persons, including the Company and the Participants,
unless otherwise determined by the Board. No member of the Board, the Committee or individual exercising administrative authority
with respect to the Plan shall be liable for any action or determination made in good faith with respect to the Plan or any Purchase
Right granted hereunder.

 

The Committee may establish plans to operate
overseas either by scheduling subplans to the Plan, adoption separate plans in accordance with authority given by the shareholders
which includes (a) designating from time to time which Subsidiaries will participate in a particular subplan, (b) determining procedures
for eligible employees to enroll in or withdraw from a subplan, setting or changing payroll deductions percentages and obtaining
necessary tax withholdings and (c) allocating available Shares under the Plan to a subplan for particular offerings. If, in the
opinion of the Committee, local laws or regulations cause participation in the Plan to become unduly onerous for the Company, or
a Participant, the relevant Purchase Right will not be exercised and all contributions accumulated during the Offering will be
distributed to the Participant with any interest, to the extent required by applicable law. No right to compensation for loss of
benefit will arise as a result of such event.

 

To the extent permitted by applicable law,
the Company shall indemnify the members of the Committee from all claims for liability (including payment of expenses in connection
with the defense against such claims) arising from any act or failure to act under the Plan, provided any such member shall give
the Company an opportunity, at its own expense, to handle and defend such claims. This shall not include actions which could be
held to include criminal liability under applicable law. This provision shall survive the termination of the Plan.

 

Article 4—Eligible
Employees

 

All individuals classified as employees on
the payroll records of the Company and each Participating Subsidiary are eligible to participate in any one or more of the Purchase
Periods under the Plan, provided that as of the first business day of the applicable Purchase Period they are customarily employed
by the Company or a Participating Subsidiary for more than twenty (20) hours a week, or any lesser number of hours per week established
by the Committee for purposes of any separate Offering. Notwithstanding any other provision herein, individuals who

    	3

    	

    

are not classified as employees of the Company
or a Participating Subsidiary for purposes of the Company’s or applicable Participating Subsidiary’s payroll system
are not considered to be eligible employees of the Company or any Participating Subsidiary and shall not be eligible to participate
in the Plan. Eligible employees who are Participants on the first business day of any Purchase Period shall receive their Purchase
Rights as of such day. Individuals who become Participants after the first business day of any Purchase Period shall be granted
Purchase Rights on the first day of the next succeeding Purchase Period on which Purchase Rights are granted to eligible employees
under the Plan.

 

In any event, no employee may be granted
a Purchase Right under the Plan if such employee, immediately after the Purchase Right was granted, would be treated as owning
shares possessing five percent or more of the total combined voting power or value of all classes of shares of the Company or of
any Parent or Subsidiary. For purposes of determining ownership under this paragraph, the rules of Section 424(d) of the Code shall
apply, and shares of the Company or any Parent or Subsidiary which the employee may purchase under outstanding Purchase Rights
and options shall be treated as shares owned by the employee.

 

Article 5—Shares
Subject to the Plan

 

The shares issuable under the Plan shall
be made available from authorized but unissued common shares in the capital of the Company (the “Common Shares”).
Subject to the provisions of Article 14 relating to capitalization adjustments, the maximum number of Common Shares that may be
issued under the Plan will not exceed 290,000 Common Shares, plus the number of Common Shares that are automatically added on January
1st of each year, commencing on (and including) January 1, 2018 and ending on (and including) January 1, 2027, in an
amount equal to the lesser of (i) 1% of the total number of Common Shares issued and outstanding on December 31st
of the preceding calendar year, and (ii) 290,000 Common Shares. Notwithstanding the foregoing, the Board may act prior to the first
day of any calendar year to provide that there will be no January 1 increase in the share reserve for such calendar year or that
the increase in the share reserve for such calendar year will be a lesser number of Common Shares than would otherwise occur pursuant
to the preceding sentence. If any Purchase Right granted under the Plan shall expire or terminate for any reason without having
been exercised in full or shall cease for any reason to be exercisable in whole or in part, the unpurchased Common Shares subject
thereto shall again be available under the Plan.

 

Article 6—Purchase
Period

 

Purchase periods during which payroll deductions
will be accumulated under the Plan shall consist of the six month periods commencing on January 1 and July 1, and ending on June
30 and December 31 of each calendar year, provided that the Committee may establish different purchase periods, from time to time,
in advance of their commencement having a duration of three months to twenty-four months (each, a “Purchase Period”
and collectively, the “Purchase Periods”). Contributions under the Plan shall be made by way of payroll deductions
in accordance with Article 10.

    	4

    	

    
Article 7—Grant of
Purchase Rights

 

On the first business day of a Purchase Period,
the Company will grant to each eligible employee who is then a Participant in the Plan a Purchase Right exercisable on the last
day of such Purchase Period (the “Purchase Date”) to purchase, at the Purchase Price hereinafter provided for,
the number of Common Shares determined by dividing such Participant’s accumulated payroll deductions during the Purchase
Period by the applicable Purchase Price, all in accordance with this Plan and on the condition that such employee remains eligible
to participate in the Plan throughout the remainder of such Purchase Period; provided, however, that such Purchase Right shall
be subject to the limitations set forth below.

 

The purchase price will be 85 percent of
the Average Market Price (as defined in Article 2) of the Common Shares on the Purchase Date, rounded up to the nearest cent (the
“Purchase Price”). The foregoing limitation on the Purchase Price shall be subject to adjustments as provided
in Article 14.

 

Only whole Common Shares may be purchased
under the Plan. Unused payroll deductions remaining in a Participant’s account at the end of a Purchase Period by reason
of the inability to purchase a fractional share shall be carried forward to the next Purchase Period.

 

No Participant under the Plan may be granted
a Purchase Right that permits the Participant’s rights to purchase Common Shares under the Plan, and any other Section 423(b)
employee stock purchase plans of the Company and its Parent and Subsidiaries, to accrue at a rate which exceeds $25,000 of the
fair market value of such shares (determined on the Purchase Right grant date or dates) for each calendar year in which the Purchase
Right is outstanding at any time. The purpose of the limitation in the preceding sentence is to comply with Section 423(b)(8) of
the Code. If the Participant’s accumulated payroll deductions on the Purchase Date would otherwise enable the Participant
to purchase Common Shares in excess of the Section 423(b)(8) limitation described in this paragraph, the excess of the amount of
the accumulated payroll deductions over the aggregate Purchase Price of the Common Shares actually purchased shall be promptly
refunded to the Participant by the Company, without interest.

 

Article 8-Exercise of Purchase
Right

 

Each eligible employee who continues to be
a Participant in the Plan on the Purchase Date shall be deemed to have exercised his or her Purchase Right on such date and shall
be deemed to have purchased from the Company such number of whole Common Shares reserved for the purpose of the Plan as the Participant’s
accumulated payroll deductions on such date will pay for at the Purchase Price, subject to the limitations described in Article
7. If the individual is not a Participant on the Purchase Date, then he or she shall not be entitled to exercise his or her Purchase
Right.

 

Article 9—Plan Enrollment

 

An eligible employee may elect to enter the
Plan, at the election of the Committee, (i) through an electronic enrollment that provides required enrollment information requested
by the Company, or (ii) by filling out, signing and delivering to the Company an authorization in a form specified by the Committee,
in either case:

    	5

    	

    

		A.	stating the percentage to be deducted regularly from the employee’s Compensation (as defined in Article 10 below) (or
contributed by other means to the extent permitted by the Committee);

 

		B.	authorizing the purchase of Common Shares for the employee in each Purchase Period in accordance with the terms of the Plan;
and

 

		C.	specifying the exact name or names in which Common Shares purchased for the employee are to be issued as provided under Article
13 hereof.

 

Such enrollment or authorization must be
received by the Company at least ten days before the first day of the next succeeding Purchase Period and shall take effect only
if the employee is an eligible employee on the first business day of such Purchase Period, unless otherwise required by applicable
law.

 

Unless a Participant completes a new election
under Article 11 or withdraws from the Plan or no longer meets the eligibility requirements in Article 4, the deductions and purchases
under the enrollment or authorization on file for the Participant under the Plan will continue automatically from one Purchase
Period to succeeding Purchase Periods as long as the Plan remains in effect.

 

The Company will accumulate and hold for
each Participant’s account the amounts deducted from his or her pay. No interest will be paid on these amounts.

 

Notwithstanding the foregoing, participation
in the Plan will neither be permitted nor be denied contrary to the requirements of Section 423 of the Code or other applicable
law.

 

Article 10—Maximum
Amount of Payroll Deductions

 

Each eligible employee may authorize payroll
deductions in an amount (expressed as a whole percentage) not less than one percent and not more than fifteen percent of such employee’s
Compensation for each pay period. An amount equal to the elected percentage of the Participant’s base salary, paid on a gross
basis before any deduction for tax or other amounts (“Compensation”), shall be deducted on each regular payday
falling within the Purchase Period. All amounts will be calculated on the Participant’s gross Compensation, and deducted
from a Participant’s net pay on an after-tax basis. The Company will maintain book accounts showing the amount of payroll
deductions made on behalf of each Participant for each Purchase Period.

 

Article 11—Change
in Payroll Deductions

 

A Participant may elect to decrease his or
her rate of payroll deduction by submitting an election (which may be in electronic form), at any time during a Purchase Period,
in accordance with, and if and to the extent permitted by, procedures established by the Company from time to time, which may,
if permitted by the Company, include a decrease to zero percent; provided, however, that unless determined otherwise by the Committee,
a decrease to zero percent shall be a deemed withdrawal from the Plan. Any such election is subject to compliance with the Company’s
Employee and Insider Trading Policy and applicable closed window periods.

    	6

    	

    

A Participant that stops payroll deductions
in any Purchase Period in accordance with the foregoing or that withdraws from the Plan may not elect to participate further in
the Plan until the next Purchase Period.

 

Article 12—Withdrawal
from the Plan

 

A Participant may withdraw from participation
in the Plan (in whole but not in part) at any time, except, with respect to withdrawal from a Purchase Period, on or after the
last business day immediately preceding the last day of the Purchase Period, in accordance with the procedures prescribed by the
Committee by delivering a notice of withdrawal (which may be in electronic form) to the Company or a person designated by the Company.
The Participant’s withdrawal will be effective as of the next business day. Following a Participant’s withdrawal, the
Company will promptly refund the amount of the Participant’s aggregate payroll deductions for that Purchase Period to him
or her (after payment for any Common Shares purchased before the effective date of withdrawal), without interest. Partial withdrawals
are not permitted. Any such withdrawal is subject to compliance with the Company’s Employee and Insider Trading Policy and
applicable closed window periods.

 

Such an employee may not begin participation
again during the remainder of the Purchase Period during which the withdrawal took place, but may enroll in a subsequent Purchase
Period in accordance with Article 9. The employee’s re-entry into the Plan becomes effective at the beginning of such Purchase
Period, provided that he or she is an eligible employee on the first business day of the Purchase Period.

 

Article 13—Issuance
of Common Shares

 

The Common Shares purchased by Participants
will be issued to the Participant as soon as practicable after each Purchase Date.

 

Article 14—Adjustments

 

Upon the happening of any of the following
described events, a Participant’s Purchase Rights granted under the Plan shall be adjusted as hereinafter provided.

 

In the event that the Common Shares shall
be subdivided or consolidated into a greater or smaller number of shares or if, upon a reorganization, split-up, liquidation, recapitalization
or the like of the Company, the Common Shares shall be exchanged for other securities of the Company, each Participant shall be
entitled, subject to the conditions herein stated, to purchase such number of Common Shares or amount of other securities of the
Company as were exchangeable for the number of Common Shares that such Participant would have been entitled to purchase except
for such action, and appropriate adjustments shall be made in the purchase price per share to reflect such subdivision, consolidated
or exchange (consistent with the provisions of Section 424 of the Code).

 

Upon the happening of any of the foregoing
events, the class and aggregate number of Common Shares set forth in Article 5 hereof which are subject to Purchase Rights which
have been or may be granted under the Plan and the limitations set forth in Articles 7 and 8 shall also

    	7

    	

    

be appropriately adjusted to reflect the events
specified in the above paragraph (consistent with the provisions of Section 424 of the Code).

 

If the Company is to be consolidated with
or acquired by another entity in a merger, a sale of all or substantially all of the Company’s assets or otherwise (an “Acquisition”),
the Committee or the board of directors of any entity assuming the obligations of the Company hereunder (the “Successor
Board”) shall, with respect to Purchase Rights then outstanding under the Plan, either (i) make appropriate provision
for the continuation of such Purchase Rights by arranging for the substitution on an equitable basis for the shares then subject
to such Purchase Rights of either (a) the consideration payable with respect to the outstanding Common Shares in connection with
the Acquisition, (b) shares of the successor corporation, or a parent or subsidiary of such corporation, or (c) such other securities
as the Successor Board deems appropriate, the fair market value of which shall not exceed the fair market value of the Common Shares
subject to such Purchase Rights immediately preceding the Acquisition; or (ii) terminate each Participant’s Purchase Rights
in exchange for a cash payment equal to (a) the fair market value on the date of the Acquisition, of the number of Common Shares
that the Participant’s accumulated payroll deductions as of the date of the Acquisition could purchase, at a purchase price
determined with reference only to the first business day of the applicable Purchase Period and subject to Code Section 423(b)(8)
and fractional-share limitations on the amount of shares a Participant would be entitled to purchase, less (b) the result of multiplying
such number of shares by such purchase price. Any actions taken pursuant to this paragraph shall comply with the requirements of
Section 424 of the Code. The Board may also determine to terminate the Plan in accordance with Article 20 prior to the completion
of an Acquisition.

 

The Committee or Successor Board shall determine
the adjustments to be made under this Article 14, and its determination shall be conclusive.

 

Article 15—No Transfer
or Assignment of Employee’s Rights

 

A Purchase Right granted under the Plan or
a Participant’s other rights under the Plan may not be pledged, assigned, encumbered or otherwise transferred for any reason,
except by will or laws of descent and distribution, and are exercisable during the Participant’s lifetime only by the Participant.
Any attempt to pledge, assign, encumber or transfer a Purchase Right or any other rights hereunder will be deemed to be an election
by the Participant to withdraw from the Plan in accordance with Article 12.

 

Article 16—Designation
of Beneficiary

 

A Participant may file a written designation
of a beneficiary who is to receive any Common Shares and cash, if any, from the Participant’s account under the Plan in the
event of such Participant’s death subsequent to a Purchase Date on which the Purchase Right is exercised but prior to delivery
to him or her of such Common Shares and cash. In addition, a Participant may file a written designation of a beneficiary who is
to receive any cash from the Participant’s account under the Plan in the event of such Participant’s death prior to
the exercise of a Purchase Right.

    	8

    	

    

Such designation of beneficiary may be changed
by the Participant (and his or her spouse, if any) at any time by written notice to the Company. In the event of the death of a
Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s
death, the Company shall deliver such Common Shares and/or cash to the executor or administrator of the estate of the Participant,
or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may
deliver such Common Shares and/or cash to the spouse or to any one or more dependents or relatives of the Participant, or if no
spouse, dependent or relative is known to the Company, then to such other person as the Company may designate.

 

Article 17—Termination
of Employee’s Rights

 

Whenever a Participant ceases to be an eligible
employee because of retirement, voluntary or involuntary termination, resignation, layoff, discharge, death or for any other reason
before the Purchase Date for any Purchase Period, the Purchase Right will automatically be terminated on the date that the Participant
ceases to be an eligible employee except in the case of involuntary termination, in which case the Purchase Right will automatically
be terminated on the date that notice of termination of employment is delivered to the eligible employee. In such event, the Company
shall promptly refund the entire balance of the Participant’s payroll deduction account, without interest, to such Participant
or, in the case of such Participant’s death, to his or her designated beneficiary, as if such Participant had withdrawn from
the Plan in accordance with Article 12. Notwithstanding the foregoing, eligible employment shall be treated as continuing intact
while a Participant is on sick leave or other bona fide leave of absence, for up to three months, or for so long as the Participant’s
right to re-employment is guaranteed either by statute or by contract, if longer than three months.

 

This Plan does not, directly or indirectly,
create any right for the benefit of any employee or class of employees to preferentially purchase any Common Shares under the Plan,
or create in any employee or class of employees any right with respect to continuation of employment by the Company, and it shall
not be deemed to interfere in any way with the Company’s right to terminate, or otherwise modify, an employee’s employment
at any time.

 

Article 18—Special
Rules

 

Notwithstanding anything herein to the contrary,
the Committee may adopt special rules applicable to the employees of a particular Participating Subsidiary, whenever the Committee
determines that such rules are necessary or appropriate for the implementation of the Plan in a jurisdiction where such Participating
Subsidiary has employees; provided that, in the event the Participating Subsidiary has employees in the United States, such rules
are consistent with the requirements of Section 423(b) of the Code and the regulations promulgated thereunder. Any special rules
established pursuant to this Article 18 shall, to the extent possible, result in the employees subject to such rules having substantially
the same rights as other Participants in the Plan.

    	9

    	

    
Article 19—Interest

 

No interest will accrue on the accumulated
payroll deductions or other contributions permitted by the Committee of a Participant, except as may be required by applicable
local law, as determined by the Company, and if so required by the laws of a particular jurisdiction, shall apply to all Participants
in the relevant Offering under the Plan, except to the extent otherwise permitted by applicable law.

 

Article 20—Termination
and Amendments to Plan

 

The Plan may be terminated at any time by
the Board but such termination shall not affect Purchase Rights then outstanding under the Plan. It will terminate in any case
when all of the unissued Common Shares reserved for the purposes of the Plan have been purchased. If at any time Common Shares
reserved for the purpose of the Plan remain available for purchase but not in sufficient number to satisfy all then unfilled purchase
rights, the available Common Shares shall be allocated pro rata among Participants in proportion to the amount of payroll
deductions accumulated on behalf of each Participant that would otherwise be used to purchase Common Shares, and the Plan shall
terminate. Upon any termination of the Plan, all payroll deductions not used to purchase Common Shares will be refunded, without
interest.

 

The Board may from time to time adopt amendments
to the Plan provided that, without the approval of the shareholders of the Company, no amendment may (i) increase the number of
Common Shares that may be issued under the Plan (other than pursuant to an equitable adjustment under Article 14); (ii) change
the entities which may participate in the Plan; (iii) increase the maximum percentage of base salary during any pay period or the
maximum dollar amount in any one calendar year that any eligible Participant may direct be contributed, pursuant to the Plan, towards
the purchase of Common Shares on his or her behalf through payroll deductions; (iv) increase the Purchase Price discount as further
described in Article 7; or (v) change the entity which grants shares under the Plan or the securities available under the Plan
(other than pursuant to an equitable adjustment under Article 14). Subject to the qualifications set out in the immediately following
paragraph, all other amendments to the Plan, including but not limited to any reasonable amendment to the mechanism for determining
the Average Market Price, may be made without the approval of shareholders.

 

Notwithstanding any other provision in the
Plan, any modification or amendment to the Plan shall be completed in a manner that is compliant with all applicable laws and requirements
of any stock exchange or governmental or regulatory body, including the requirements of Section 423 of the Code and the listing
standards of the NASDAQ Global Market listing.

 

No Purchase Rights may be issued under the
Plan from and after the tenth anniversary of the date upon which the Effective Time occurs or such later date as is approved by
shareholders of the Company following the Effective Time.

 

Article 21—Limits
on Sale of Shares Purchased under the Plan

 

The Plan is intended to provide Common Shares
for investment and not for resale. The Company does not, however, intend to restrict or influence any employee in the conduct of
his or her own affairs. An employee may, therefore, sell Common Shares purchased under the Plan at any time the employee chooses,
subject to compliance with any applicable federal, state and

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provincial securities laws and regulations;
subject to any restrictions imposed under Article 25 to ensure that tax withholding obligations are satisfied; subject to compliance
with the terms of the Company’s Employee and Insider Trading Policy; and subject to compliance with any conditions imposed
by the Committee or the Board under the Plan with respect to any subsequent purchases made by Participants under the Plan. THE
EMPLOYEE ASSUMES THE RISK OF ANY MARKET FLUCTUATIONS IN THE PRICE OF THE COMMON SHARES.

 

Article 22—Participants
as Holders of Rights, Not Shareholders

 

Neither the granting of a Purchase Right
to a Participant nor the deductions from his or her pay shall constitute such Participant a shareholder of the shares covered by
a Purchase Right under the Plan until such shares have been purchased by and issued to him or her.

 

Article 23—Application
of Funds

 

All funds received or held by the Company
under the Plan may be combined with other corporate funds, and may be used for general corporate purposes.

 

Article 24—Notice
to Company of Disqualifying Disposition

 

By electing to participate in the Plan, each
United States of America resident agrees to notify the Company in writing immediately after the Participant transfers Common Shares
acquired under the Plan, if such transfer occurs within two years after the first business day of the Purchase Period in which
such Common Shares were acquired or within one year of the acquisition of such Common Shares. Each Participant further agrees to
provide any information about such a transfer as may be requested by the Company or any Subsidiary in order to assist it in complying
with the tax laws.

 

Article 25—Withholding
of Additional Taxes

 

By electing to participate in the Plan, each
Participant acknowledges that the Company and its Participating Subsidiaries are required to withhold taxes with respect to the
amounts deducted from the Participant’s Compensation and accumulated for the benefit of the Participant under the Plan, and
each Participant agrees that the Company and its Participating Subsidiaries may deduct additional amounts from the Participant’s
Compensation, when amounts are added to the Participant’s account, used to purchase Common Shares or refunded, in order to
satisfy such withholding obligations. Each Participant further acknowledges that when Common Shares are purchased under the Plan
the Company and its Participating Subsidiaries may be required to withhold taxes with respect to all or a portion of the difference
between the fair market value of the Common Shares purchased and their purchase price and any other taxable benefit arising from
participation in the Plan, and each Participant agrees that such taxes may be withheld from Compensation otherwise payable to such
Participant. It is intended that tax withholding will be accomplished in such a manner that the full amount of payroll deductions
elected by the Participant under Article 9 will be used to purchase the Common Shares. However, if amounts sufficient to satisfy
applicable tax withholding obligations have not been withheld from Compensation otherwise payable to any Participant, then, notwithstanding
any other provision of the Plan, the Company may: (a) withhold such taxes from the Participant’s accumulated payroll deductions
and apply the net amount to the purchase of Common Shares, unless the Participant

    	11

    	

    

pays to the Company, prior to the Purchase
Date, an amount sufficient to satisfy such withholding obligations, or (b) with the authorization of and on behalf of the Participant,
sell in the market on such terms and at such time or times as the Company determines, a portion of the Common Shares issued to
the Participant under the Plan to realize cash proceeds to be used to satisfy the required tax remittance. Each Participant further
acknowledges that the Company and its Participating Subsidiaries may be required to withhold taxes in connection with the disposition
of Common Shares acquired under the Plan and agrees that the Company or any Participating Subsidiary may take whatever action it
considers appropriate to satisfy such withholding requirements, including deducting from Compensation otherwise payable to such
Participant an amount sufficient to satisfy such withholding requirements or conditioning any disposition of Common Shares by the
Participant upon the payment to the Company or such Participating Subsidiary of an amount sufficient to satisfy such withholding
requirements. For purposes of this Article 25, “taxes” include all remuneration-related deductions, withholdings and
contributions required by any governmental authority.

 

Article 26—Governmental
Regulations

 

The Company’s obligation to sell and
deliver Common Shares under the Plan is subject to the approval of any governmental authority required in connection with the authorization,
issuance or sale of such shares. Common Shares shall not be issued with respect to a Purchase Right granted under the Plan unless
the exercise of such Purchase Right and the issuance and delivery of the shares of Common Shares pursuant thereto shall comply
with all applicable laws and regulations and the requirements of any stock exchange upon which the shares may then be listed.

 

Article 27—Governing
Law

 

The validity, construction, interpretation,
administration and effect of the Plan and of its rules and regulations, and rights relating to the Plan, shall be determined solely
in accordance with the laws of the State of Delaware (without reference to the principles of conflicts of law) and for Canadian
taxpayers, with the applicable laws of the Province of Quebec and Canadian Federal laws.

 

Article 28-–Effective
Time

 

This Plan shall be effective at the time
(the “Effective Time”) immediately preceding the closing of the initial public offering of the Common Shares,
provided that it has been approved by the holders of a majority of the Common Shares of the Company present or represented by proxy
at the annual meeting of the shareholders of the Company, held after the date on which the Plan is adopted by the Board, and in
a manner that complies with Section 423(b)(2) of the Code and applicable Canadian law.

 

Article 29—Miscellaneous

 

All references to currency herein are to
U.S. funds unless otherwise indicated.

    	12

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