Document:

EX-4.22

 Exhibit 4.22 
 3636 RESEARCH ROAD NW 
 CALGARY, ALBERTA 

LEASE 
 BETWEEN

 HOOPP REALTY INC., 
 AS LANDLORD 
 AND 

SMART TECHNOLOGIES ULC 
 AS TENANT 

 TABLE OF CONTENTS 

 

									
	 1.
	 		  	 LEASE SUMMARY
	  	 	- 1 -	  
				
		 	1.1	  	 Summary of Terms
	  	 	- 1 -	  
				
	 2.
	 		  	 DEFINITIONS
	  	 	- 3 -	  
				
	 3.
	 		  	 THE DEMISE
	  	 	- 9 -	  
				
		 	3.1	  	 Demise
	  	 	- 9 -	  
				
	 4.
	 		  	 TERM
	  	 	- 9 -	  
				
		 	4.1	  	 Term
	  	 	- 9 -	  
		 	4.2	  	 Surrender
	  	 	- 9 -	  
				
	 5.
	 		  	 RENT
	  	 	- 9 -	  
				
		 	5.1	  	 Basic Rent, Parking Rent, and Additional Rent
	  	 	- 9 -	  
		 	5.2	  	 No Abatement
	  	 	- 9 -	  
		 	5.3	  	 Adjustment
	  	 	- 10 -	  
		 	5.4	  	 Additional Rent Treated as Basic Rent
	  	 	- 10 -	  
				
	 6.
	 		  	 TENANT’S COVENANTS
	  	 	- 10 -	  
				
		 	6.1	  	 To Pay
	  	 	- 10 -	  
		 	6.2	  	 Insurance
	  	 	- 11 -	  
		 	6.3	  	 Management, Maintenance and Repair by the Tenant
	  	 	- 13 -	  
		 	6.4	  	 Access by Landlord
	  	 	- 14 -	  
		 	6.5	  	 Business and Trade Fixtures
	  	 	- 15 -	  
		 	6.6	  	 Alterations and Additions
	  	 	- 15 -	  
		 	6.7	  	 Removal of Alterations
	  	 	- 17 -	  
		 	6.8	  	 Use of Premises
	  	 	- 17 -	  
		 	6.9	  	 Signs
	  	 	- 17 -	  
		 	6.10	  	 Overloading
	  	 	- 17 -	  
		 	6.11	  	 Environmental Contaminants
	  	 	- 17 -	  
		 	6.12	  	 Abate Nuisance
	  	 	- 18 -	  
		 	6.13	  	 Assignment and Subletting
	  	 	- 18 -	  
		 	6.14	  	 Corporate Ownership
	  	 	- 21 -	  
		 	6.15	  	 No Advertising of the Premises
	  	 	- 22 -	  
		 	6.16	  	 Easements
	  	 	- 22 -	  
		 	6.17	  	 Liens
	  	 	- 22 -	  
		 	6.18	  	 Exhibit Premises
	  	 	- 22 -	  
		 	6.19	  	 Registration of Lease
	  	 	- 23 -	  
		 	6.20	  	 Compliance with Laws
	  	 	- 23 -	  
		 	6.21	  	 Provide Financial Information
	  	 	- 24 -	  
		 	6.22	  	 Subordination and Non-Disturbance
	  	 	- 24 -	  
		 	6.23	  	 Attornment
	  	 	- 24 -	  
		 	6.24	  	 Estoppel Certificate
	  	 	- 25 -	  
		 	6.25	  	 Indemnify Landlord
	  	 	- 25 -	  
		 	6.26	  	 Deposit
	  	 	- 26 -	  

									
				
	 7.
	 		  	 LANDLORD’S COVENANTS
	  	 	- 28 -	  
				
		 	7.1	  	 Quiet Enjoyment
	  	 	- 28 -	  
		 	7.2	  	 Landlord Repair
	  	 	- 28 -	  
		 	7.3	  	 Indemnify Tenant
	  	 	- 28 -	  
		 	7.4	  	 Landlord’s Signs
	  	 	- 29 -	  
		 	7.5	  	 Landlord’s Insurance
	  	 	- 29 -	  
				
	 8.
	 		  	 MUTUAL COVENANTS, AGREEMENTS AND PROVISOS
	  	 	- 30 -	  
				
		 	8.1	  	 Acting Reasonably
	  	 	- 30 -	  
		 	8.2	  	 Approval In Writing
	  	 	- 30 -	  
		 	8.3	  	 Delegation of Authority
	  	 	- 30 -	  
		 	8.4	  	 No Warranties
	  	 	- 30 -	  
		 	8.5	  	 No Waiver
	  	 	- 30 -	  
		 	8.6	  	 Notices
	  	 	- 31 -	  
		 	8.7	  	 Damage and Destruction
	  	 	- 32 -	  
		 	8.8	  	 Performance by Landlord
	  	 	- 33 -	  
		 	8.9	  	 Re-entry on Default
	  	 	- 33 -	  
		 	8.10	  	 Default
	  	 	- 34 -	  
		 	8.11	  	 Sale and Reletting
	  	 	- 34 -	  
		 	8.12	  	 Termination
	  	 	- 35 -	  
		 	8.13	  	 Distress
	  	 	- 35 -	  
		 	8.14	  	 Landlord’s Expenses in Enforcing this Lease
	  	 	- 35 -	  
		 	8.15	  	 Remedies Cumulative
	  	 	- 36 -	  
		 	8.16	  	 Holding Over
	  	 	- 36 -	  
		 	8.17	  	 Inability to Perform
	  	 	- 37 -	  
		 	8.18	  	 Interest
	  	 	- 37 -	  
		 	8.19	  	 Expropriation
	  	 	- 37 -	  
		 	8.20	  	 Accrual of Basic Rent and Parking Rent
	  	 	- 37 -	  
		 	8.21	  	 Net Lease
	  	 	- 38 -	  
		 	8.22	  	 Governing Law
	  	 	- 38 -	  
		 	8.23	  	 Number and Gender
	  	 	- 38 -	  
		 	8.24	  	 Covenants
	  	 	- 38 -	  
		 	8.25	  	 Time of the Essence
	  	 	- 38 -	  
		 	8.26	  	 Headings
	  	 	- 39 -	  
		 	8.27	  	 Enurement
	  	 	- 39 -	  
		 	8.28	  	 Joint and Several Liability
	  	 	- 39 -	  
		 	8.29	  	 Continuation of Obligations
	  	 	- 39 -	  
		 	8.30	  	 Landlord’s Limit of Liability
	  	 	- 39 -	  
		 	8.31	  	 Confidentiality
	  	 	- 39 -	  
		 	8.32	  	 Amendments
	  	 	- 40 -	  
		 	8.33	  	 Application of Ground Lease
	  	 	- 40 -	  
		 	8.34	  	 Indemnification
	  	 	- 40 -	  
		 	8.35	  	 Survival of Obligations
	  	 	- 40 -	  
		 	8.36	  	 No Adverse Presumption
	  	 	- 41 -	  
		 	8.37	  	 Ground Lease
	  	 	- 41 -	  
				
	 9.
	 		  	 SCHEDULES
	  	 	- 41 -	  

  

					
	 Schedule “A”
	 	-	  	 Legal Description of the Lands

	 Schedule “A-1”
	 	-	  	 Site Plan of Land and Building

  
 ii 

					
	 Schedule “A-2”
	 	-	  	 Floor Plans of Premises

	 Schedule “B”
	 	-	  	 Additional Provisions

	 Schedule “C”
	 	-	  	 Indemnification Agreement

	 Schedule “D”
	 	-	  	 Insurance Certificate

  
 iii

 LEASE AGREEMENT 

THIS AGREEMENT made this 7th day of May, 2013, 
 BETWEEN: 
 HOOPP REALTY INC. 

(the “Landlord”) 
 - and - 
 SMART TECHNOLOGIES ULC 

(the “Tenant”) 
 WITNESSES THAT in consideration of the premises, the covenants and agreements herein contained and other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged
by each of the parties hereto), the parties hereto covenant and agree as follows: 
  

	1.	LEASE SUMMARY 

  

	1.1	SUMMARY OF TERMS 

 The
parties acknowledge that the following summarizes certain matters relevant to this Lease. The following summary does not limit the meaning of any other provision of this Lease. If any other provision of this Lease is inconsistent with the following
summary, the other provisions of this Lease shall prevail: 
 (a) Brief Description of Premises and Net Rentable Area: Class A
suburban office building consisting of Two Hundred and Four Thousand Nine Hundred and Sixty (204,960) square feet of net rentable area (NRA) with a three (3) level underground parkade and thirteen (13) surface parking stalls.

 (b) Term: Twenty (20) years commencing on the Commencement Date and continuing to and including the Expiry Date. 

(c) Commencement Date: [Closing Date of Sale Transaction]. 
 (d) Expiry Date: May 6, 2033. 
 (e) Basic Rent: Twenty Seven ($27.00) Dollars
per square foot in years One (1) to Five (5), escalating by Eight percent (8.0%) every Five (5) years (based on 204,960 square feet of NRA): 
  

											
	 	  	Lease Year	  	Per Year	 	  	Per Month	 
				
	 (i)
	  	Years 1-5	  	$	5,533,920.00	  	  	$	461,160.00	  
				
	 (ii)
	  	Years 6-10	  	$	5,976,634.00	  	  	$	498,052.83	  
				
	 (iii)
	  	Years 11-15	  	$	6,454,764.00	  	  	$	537,897.00	  
				
	 (iv)
	  	Years 16-20	  	$	6,971.145.00	  	  	$	580,928.75	  

 In the event the annual rental payable by the Landlord under the Ground Lease increases at any time during
the Term, the annual Basic Rent will be increased concurrently by an amount equal to such increase(s) and the Basic Rent and the Total Rent in Section 1.1(g) will be adjusted accordingly. 

(f) Parking Rent: One Hundred Twenty Five ($125.00) per stall per month in years One (1) to Five (5) escalating by Eight
(8.0%) percent every Five (5) years (based on 274 parking stalls): 
  

											
	 	  	Lease Year	  	Per Year	 	  	Per Month	 
				
	 (i)
	  	Years 1-5	  	$	411,000.00	  	  	$	34,250.00	  
				
	 (ii)
	  	Years 6-10	  	$	443,880.00	  	  	$	36,990.00	  
				
	 (iii)
	  	Years 11-15	  	$	479,390.00	  	  	$	39,949.25	  
				
	 (iv)
	  	Years 16-20	  	$	517,742.00	  	  	$	43,145.17	  

 (g) Total Rent (combination of Basic Rent and Parking Rent): 

 

											
	 	  	Lease Year	  	Per Year	 	  	Per Month	 
				
	 (i)
	  	Years 1-5	  	$	5,944,920.00	  	  	$	495,410.00	  
				
	 (ii)
	  	Years 6-10	  	$	6,420,514.00	  	  	$	535,042.83	  
				
	 (iii)
	  	Years 11-15	  	$	6,934,155.00	  	  	$	577,846.25	  
				
	 (iv)
	  	Years 16-20	  	$	7,488,887.00	  	  	$	624,073.92	  

  

	*	Figures subject to adjustment pursuant to Section 1.1(e). 

 (h) Extension Options: Four (4) rights to extend the term for additional periods of Five (5) years each at then current market rent on the terms set out in paragraph 3 of Schedule B.

 (i) Tenant’s Address for Notices: 
 3636 Research Park NW 
 Calgary, Alberta T2L 1Y1 

Attn.:      Vice President, Finance and Chief Financial Officer 

Fax No.:  403-245-0366 

(j) Landlord’s Address for Notices: 
 1 Toronto Street 
 Suite 1400 

Toronto, Ontario M5C 3B2 
 (k)
Indemnifier: Smart Technologies Inc. (see Indemnification Agreement attached as Schedule C). 

  
 - 2 -

	2.	DEFINITIONS 

The following words or phrases shall, unless there is something in the context inconsistent therewith, having the meanings hereinafter set
out; and plural forms of the following words and phrases shall have corresponding meanings: 
 “Additional Rent”
shall mean any sums which are required to be paid by the Tenant hereunder, including, without limitation, all interest and penalties payable hereunder, whether or not such sums are referred to as Rent or Additional Rent or otherwise, but Additional
Rent shall not include the Total Rent. 
 “Affiliate” shall mean, in relation to a party to this Lease:

  

	 	(a)	any Person which directly, or indirectly through one or more intermediaries, is controlled by, controls, or is under common control with that party, and

  

	 	(b)	any other Person which directly, or indirectly through one or more intermediaries, is controlled by, controls, or is under common control with a Person described in
paragraph (a) of this definition. 

 For the purposes of this definition, “control” (including the
phrases “controlled by” and “under common control with”) means any of: 
  

	 	(i)	the right to exercise a majority of the votes which may be put at a general meeting of a corporation, 

 

	 	(ii)	the right to elect or appoint directly or indirectly a majority of the directors of a corporation or other persons who have the right to manage or supervise the
management of the affairs and the business of the corporation or the firm, and 

  

	 	(iii)	the possession of the effective power to direct or cause the direction of the management and policies of that party through the ownership of shares entitled to vote in
all circumstances. 

 “Alteration” has the meaning given that term in Section 6.6; 

“Authorities” shall mean all federal, provincial, municipal and other governmental authorities (including, without
limitation, suppliers of public utilities), departments, boards and agencies having or claiming jurisdiction. 
 “Basic
Rent” shall mean the amount specified as such in Section 1.1(e) as may be amended by written agreement of the Landlord and the Tenant from time to time. 
 “Building” shall mean all buildings on the Lands from time to time, together with all fixtures (excluding tenant’s trade fixtures), improvements, heating, ventilation, air
conditioning, electrical, mechanical, sprinkler and plumbing systems and facilities located in, on or serving such building, and all alterations, additions and replacements thereto. 

“Business Days” shall mean each and every day of the week save and except Saturdays, Sundays, and statutory holidays
within the Province. 
 “Capital Taxes” shall mean in any Lease Year the aggregate of any and all taxes, rates,
levies, duties, excises and assessments which may now or hereafter be levied, imposed, rated or assessed by the Government of Canada, the Government of the Province or any other governmental authority whatsoever, and which are levied against or
payable by the Landlord or the owner of the Land in respect of that Lease Year and which are, directly or indirectly, calculated or payable with respect to or as a result of any one or more of the following: 

 

	 	(a)	the capital of the Landlord invested in the Premises by reason of the development or purchase thereof; 

  
 - 3 -

	 	(b)	the financing of that investment; and 

  

	 	(c)	the capital, reserves, retained earnings, surpluses, liabilities or assets of the Landlord and any other attributes of the Landlord appearing on its balance sheet.

 “Claims” shall mean claims, losses, damages, suits, judgments, causes of action, legal
proceedings, executions, demands, penalties or other sanctions of every nature and kind whatsoever, whether accrued, actual, contingent or otherwise and any and all costs arising in connection therewith, including, without limitation, all legal
expenses. 
 “Commencement Date” shall mean the date specified as such in Section 1.1(c). 

“Environmental Contaminant” shall mean: 
  

	 	(a)	any solid, liquid, gaseous or radioactive substance (including radiation) which, when it enters into a Building, exists in a Building or is present in the water
supplied to a Building, or when it is released into the environment from a Building or any part thereof or is entrained from one building to another building, or into the water or the natural environment, is likely to cause, at any time, material
harm or degradation to any other property or any part thereof, or to the natural environmental or material risk to human health, and includes, without limitation, any flammables, explosives, radioactive materials, asbestos, lead paint,
polychlorinated biphenyls, fungal contaminants (including, without limitation, and by way of example, stachybotrys chartarum and other moulds), mercury and its compounds, dioxans and furans, chlordane, chlorofluorocarbons, hydro-chlorofluorocarbons,
volatile organic compounds, urea formaldehyde foam insulation, radon gas, chemicals known to cause cancer or reproductive toxicity, pollutants, contaminants, hazardous wastes, toxic or noxious substances or related materials, petroleum and petroleum
products; 

  

	 	(b)	any substance declared to be hazardous or toxic under any Environmental Laws or that does not meet any prescribed standard or criteria made under any present or future
Environmental Laws; and 

  

	 	(c)	any substance, sound, vibration, ray, heat, radiation or odour of which the use, presence in the environment or release into the environment is prohibited, regulated,
controlled or licenced under Environmental Laws. 

 “Environmental Laws” means any statutes, laws,
regulations, orders, by-laws, standards, guidelines, permits and other lawful requirements of any governmental authority having jurisdiction over the Premises now or hereafter in force relating in any ways to the environment, health, occupational
health and safety, product liability or transportation of dangerous goods, including the principles of common law and equity. 

“Event of Default” means: 
  

	 	(a)	the Tenant fails to pay any Rent reserved by this Lease on the day or dates appointed for the payment thereof and such failure continues for 5 Business Days following
written demand for the payment thereof being made by the Landlord; 

  
 - 4 -

	 	(b)	the Tenant fails to observe or perform any of the Tenant’s Covenants (other than the payment of Rent) and: 

 

	 	(i)	fails to remedy such breach within 20 days of the receipt by the Tenant of written notice from the Landlord respecting such breach (the “Rectification
Period”); or 

  

	 	(ii)	if such breach cannot be reasonably remedied within the Rectification Period, the Tenant fails to commence to remedy such breach within the Rectification Period or
thereafter fails to proceed diligently to remedy such breach; 

  

	 	(c)	the Tenant becomes bankrupt or insolvent or takes the benefit of any statute for bankrupt or insolvent debtors or makes any proposal, assignment or arrangement with its
creditors (including, without limitation, electing to terminate or disclaim this Lease in connection with a proposal made by the Tenant under the Bankruptcy and Insolvency Act (Canada), the Companies Creditors Arrangements Act (Canada)
or any other statute allowing the Tenant to terminate, disclaim or repudiate this Lease); 

  

	 	(d)	a receiver or a receiver and manager is appointed for all or a portion of the Tenant’s property and such appointment is not set aside within 60 days after being
made; 

  

	 	(e)	any steps are taken or any actions or proceedings are instituted by the Tenant or by any other party including without limitation any court or Authority having
jurisdiction for the dissolution, winding up or liquidation of the Tenant or its assets; 

  

	 	(f)	the Tenant makes a sale in bulk of all or a substantial portion of its assets other than in conjunction with a Transfer approved by the Landlord, in conjunction with a
Permitted Transfer or in the Tenant's ordinary course of business; 

  

	 	(g)	this Lease or any of the Tenant’s assets are taken under a writ of execution and such writ of execution is not set aside or discharged within 60 days following its
issue; 

  

	 	(h)	the Tenant effects a Transfer or Permitted Transfer other than in accordance with the terms of this Lease. 

For clarity, the Landlord is not required to give the Tenant any notice in respect of the events described in paragraphs (c) to (h),
an Event of Default arising immediately upon the occurrence of such an event. 
 “Expiry Date” shall mean the
date specified as such in Section 1.1(d). 
 “Extension Period” has the meaning given that term in
paragraph 3 of Schedule “B”. 
 “Goods and Services Tax” shall mean and include: 

 

	 	(a)	the tax contained in Part IX of the Excise Tax Act of Canada, as amended from time to time; and 

 

	 	(b)	any other taxes, fees, levies, charges, assessments, duties and excises (whether characterised as sales taxes, purchase taxes, value-added taxes, goods and services
taxes, harmonized taxes or any other form) which are imposed on the Landlord or which the Landlord is liable to pay, and which are levied, rated or assessed by any governmental authority whatsoever on the act of entering into this Lease or otherwise
on account of this Lease, or on the use or occupancy of the Premises or any portion thereof, or on the Rent payable under this Lease or any portion thereof, or in connection with the business of renting the Premises or any portion thereof, but
excluding income tax under Part 1 of the Income Tax Act of Canada. 

  
 - 5 -

 “Ground Lease” shall mean the Lease Agreement dated October 3, 2006,
as amended, between Her Majesty The Queen in right of Alberta as represented by the Minister of Infrastructure and Transportation, as landlord, and SMART Technologies Inc., as tenant. 

“Head Landlord” the landlord under the Ground Lease from time to time, and currently being Her Majesty The Queen in right
of Alberta as represented by the Minister of Infrastructure and Transportation. 
 “Improvements” shall have the
meaning set out in the Ground Lease. 
 “Land” shall mean all and singular that certain parcel or tract of land
more particularly described in Schedule “A” hereto. 
 “Landlord’s Covenants” shall mean all of
the terms, covenants and conditions of this Lease on the part of the Landlord to be observed and performed. 

“Landlord’s Mortgages” shall mean all mortgages, charges, debentures, security instruments and all instruments and
indentures supplemental thereto (including a deed of trust and mortgage securing bonds and all indentures supplemental thereto) which may now or hereafter charge the Landlord’s interest in the Premises, and all renewals, modifications,
consolidations, replacements and extensions thereof. 
 “Landlord’s Mortgagees” shall mean any and all
existing or proposed mortgagees, debenture holders and trustees on behalf of mortgagees holding any Landlord’s Mortgages. 

“Landlord’s Representatives” shall mean the Landlord’s property manager and asset manager and the
Landlord’s and the Landlord’s property manager’s and asset manager’s respective directors, officers, employees, contractors, servants, agents and those for whom each of the Landlord and the Landlord’s property manager and
asset manager, respectively, is responsible at law. 
 “Laws” shall mean all laws, statutes, ordinances,
regulations, by-laws, directions, orders, rules, requirements, directions and guidelines of all Authorities. 

“Lease” shall mean this lease agreement and all schedules attached hereto, as same may be amended from time to time.

 “Leasehold Improvements” shall mean all items in or serving the Premises and considered at common law as
being a leasehold improvement, including, without limitation, all alterations, fixtures, improvements, installations, repairs, work, replacements, changes and additions (including construction of openings for internal stairways and shuttle elevators
and the delivery, storage and removal of materials for any of the foregoing), in or serving the Premises made, erected or installed, from time to time (whether prior to or following the execution of this Lease) by or on behalf of the Landlord or the
Tenant including, without limitation, internal stairways, shuttle elevators, heating, ventilating, air conditioning, sewage, sprinkler, mechanical and electrical equipment, facilities and equipment for or in connection with the supply of utilities,
communications or telecommunications exclusively servicing the Premises (wherever located), doors, hardware, partitions (including moveable partitions), lighting fixtures, any apparatus or equipment connected to the electrical system or to the
plumbing lines, the sprinkler system, electrical submeters, finished floors, Building standard window coverings and wall to wall carpeting but excluding trade fixtures and furniture and equipment not of the nature of fixtures. 

“Lease Year” shall mean a twelve (12) month period commencing on the first day of January in any calendar year and
ending on the last day of December in that calendar year, provided that the first Lease Year shall commence on the Commencement Date and end on the last day of December next following and the last Lease Year shall commence on the first day of
January of the calendar year during which the Term expires and end upon the Expiry Date. 

  
 - 6 -

 “Management Fee” shall mean the management fee payable by the Tenant to the
Landlord in accordance with Section 6.1(d), being One percent (1%) of Basic Rent applicable during each year of the Term. 
 “Parking Rent” shall mean the amount specified as such in Section 1.1(f) as may be amended by written agreement of the Landlord and the Tenant from time to time. 

“Permitted Uses” shall mean the uses which may be made of the Premises by the Tenant and as described in
Section 6.8. 
 “Person” shall mean any association, society, corporation, individual, joint venture,
partnership, trust, unincorporated organization or Authority. 
 “Premises” shall mean the Building more
particularly shown in Schedule “A-1” attached hereto and the Land. 
 “Province” shall mean the
Province of Alberta. 
 “Rent” shall mean the Basic Rent, Additional Rent and the Parking Rent. 

“Roof” shall mean the roof deck and roof membrane, which may consist of roofing felts or various proprietary materials
and systems, or other water resistant material including but not limited to sheet steel, aluminum, copper, tiles, shingles of various types, tar, asphalt or bitumen, sealants, fastening devices, duckboards, hatches, skylights, fixed ladders, roof
insulation, gravel, ballast, flashings, stops, parapets, cants, drains, gutters, down pipes and roof sheathing or roof deck of the Building, but does not include any beams, rafters, joists, guiders, purlins, girts, or columns or other structural
components supporting the roof decks. 
 “Sign” shall mean any sign, picture, notice, lettering, direction or
other advertising or informational device of whatever nature. 
 “Structure” shall mean the structural
components supporting the Roof, exterior walls and structural elements of the Building including bearing walls, footings, foundations, structural columns and beams and structural subfloors. 

“Taxes” shall mean all taxes, fees, levies, charges, assessments, rates, duties and excises which are now or may
hereafter be levied, imposed, rated or assessed upon or with respect to the Premises or any part thereof, whether directly or indirectly levied, imposed, rated or assessed by the Government of Canada, the Government of the Province, or any political
subdivision, political corporation, district, municipality, city or other political or public entity, the whole as finally determined for each applicable period of time as a result of an assessment, appeal, or judicial review. Without restricting
the generality of the foregoing, Taxes shall include all: 
  

	 	(a)	real property taxes, general and special assessments; 

  

	 	(b)	taxes, fees, levies, charges, assessments, rates, duties and excises for transit, housing, schools, police, fire or other governmental services or for purported
benefits to the Land or the Building; 

  

	 	(c)	local improvement taxes, service payments in lieu of taxes, and taxes, fees, levies, charges, assessments, rates, duties and excises, however described, that may be
levied, rated or assessed as a substitute for, or as an addition to, in whole or in part, any property taxes or local improvement taxes; and 

  

	 	(d)	any and all penalties, late payment or interest charges imposed by an Authority as a result of the Tenant’s late payment of any of the amounts described above in
this definition (other than paragraph (d)) or any instalments thereof, as the case may be, 

  
 - 7 -

 but Taxes shall exclude all of the following: 

 

	 	(e)	income tax under Part I of the Income Tax Act of Canada; 

  

	 	(f)	the Tenant’s Taxes; 

  

	 	(g)	the Goods and Services Tax; and 

  

	 	(h)	the Capital Taxes. 

“Tenant’s Covenants” shall mean all of the terms, covenants and conditions of this Lease on the part of the Tenant
to be observed and performed. 
 “Tenant’s Lender” shall mean any financial institution or other Person
which holds a charge by way of an assignment of this Lease and the Tenant’s leasehold interest in the Premises by way of mortgage or other security instrument evidencing the Tenant’s indebtedness to such Person or to other Persons for whom
such Person acts as agent. 
 “Tenant’s Representatives” shall mean the Tenant’s directors, officers,
employees, servants, agents and those for whom the Tenant is responsible at law. 
 “Tenant’s Taxes” shall
mean all taxes, fees, levies, charges, assessments, rates, duties and excises which are now or may hereafter be levied, imposed, rated or assessed by any lawful authority relating to or in respect of the business of the Tenant or relating to or in
respect of personal property and all business and trade fixtures, machinery and equipment, cabinet work, furniture and movable partitions owned or installed by the Tenant at the expense of the Tenant or being the property of the Tenant, or relating
to or in respect of improvements to the Premises built, made or installed by the Tenant, on behalf of the Tenant or at the Tenant’s request whether any such amounts are payable by law by the Tenant or by the Landlord and whether such amounts
are included by the taxing authority in the Taxes. 
 “Term” shall mean the term specified in
Section 1.1(b) and any Extension Period. 
 “Transfer” shall mean any of: 

 

	 	(a)	an assignment of this Lease by the Tenant in whole or in part; 

  

	 	(b)	any arrangement, written or oral, whether by sublease, licence or otherwise, whereby rights to use space within the Premises are granted to any Person (other than the
Tenant) from time to time, which rights of occupancy are derived through or under the interest of the Tenant under this Lease; and 

  

	 	(c)	a mortgage or other encumbrance of this Lease or of all or any part of the Premises, or any interest therein; and 

“Transferee” shall mean any Person deriving rights through a Transfer. 

“Utility Costs” shall mean all charges for water, gas, telephone, internet, electric light and power and all other
utilities and services used on or in respect of the Premises or any part thereof, together with all costs and charges for all fittings, machines, apparatus, meters and any other thing leased or supplied in respect thereof and all costs and charges
for all work and services performed by any corporation, authority or commission in connection with such utilities and services in respect of the Premises. 

  
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 Certain terms which have been defined within specific sections of this Lease for use solely within those
sections, or the Article within which such section is located, may not be defined to above. 
  

	3.	THE DEMISE 

  

	3.1	DEMISE 

 The Landlord
hereby demises and leases to the Tenant the Premises for the Term unless terminated earlier pursuant to this Lease, to have and to hold during the Term, subject to the terms and conditions of this Lease. 

 

	4.	TERM 

  

	4.1	TERM 

 The Tenant shall
have and hold the Premises, for the Term from and including the Commencement Date until and including the Expiry Date, unless this Lease is otherwise terminated prior to the Expiry Date. 

 

	4.2	SURRENDER 

 The Tenant
shall, on the last day of the Term, or upon the sooner termination of the Term, peaceably and quietly surrender and deliver vacant possession of the Premises to the Landlord in the condition and state of repair that they were required to be
maintained during the Term reasonable wear and tear excepted, or as the Landlord may otherwise require in accordance with Sections 6.5 and 6.7. If the Tenant fails to comply with the foregoing or its obligations under Sections 6.5 and 6.7, the
Tenant shall at the option of the Landlord be deemed to be an overholding monthly tenant for so long as it may reasonably take to complete the required repairs, removal, restoration or clean-up (the “Overholding Period”). During the
Overholding Period, the Tenant shall pay the Rent required by section 8.16(c) to be paid by an overholding tenant who is overholding without the consent of the Landlord (the “Overholding Rent”), notwithstanding the fact that the Tenant may
have vacated the Premises. For clarity, nothing in this section entitles the Tenant to terminate such monthly tenancy or remain in possession of the Premises as it is the parties intent that the deemed monthly tenancy contemplated by this section
only results in an obligation on the part of the Tenant to pay the Overholding Rent during the Overhold Period with the Tenant having no other rights or interest in or to the Premises. 

 

	5.	RENT 

  

	5.1	BASIC RENT, PARKING RENT, AND ADDITIONAL RENT 

 The Tenant shall pay to the Landlord during the Term the following Rent payable at the Landlord’s address specified in Section 1.1(j) or at such other business address in Canada as the Landlord
may from time to time designate in writing, in the following instalments: 
  

	 	(a)	the Basic Rent and Parking Rent payable in advance in equal consecutive monthly installments on the first day of each and every month in each and every year of the Term
commencing on the Commencement Date and continuing until and including the first day of the month in which the Expiry Date falls; and 

  

	 	(b)	in the case of Additional Rent that is payable by the Tenant to the Landlord, in accordance with the provisions of this Lease. 

 

	5.2	NO ABATEMENT 

 The Tenant
covenants and agrees with the Landlord that all of the Rent payable under this Lease shall be paid by the Tenant to the Landlord without demand, deduction, set-off or abatement whatsoever, except as specifically provided in this Lease. 

  
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	5.3	ADJUSTMENT 

 If the Term
shall commence or cease on a day other than the commencement or the end of any period of time in respect of which any amount payable hereunder is calculated, then the Tenant shall pay to the Landlord such amount for such period of time on a pro rata
basis. 
  

	5.4	ADDITIONAL RENT TREATED AS BASIC RENT 

 Additional Rent is recoverable as Basic Rent, and the Landlord has all rights against the Tenant for default in any such payment as in the case of arrears of Basic Rent. 

 

	6.	TENANT’S COVENANTS 

 The Tenant hereby covenants and agrees with the Landlord as follows: 
  

	6.1	TO PAY 

 (a) Taxes - The Tenant shall in
each and every year during the Term, not later than the day immediately preceding the date or dates on which Taxes become due and payable, whether monthly, quarterly, twice-yearly, or otherwise, pay and discharge or cause to be paid and discharged
all Taxes. The Tenant further covenants and agrees that during the Term it shall deliver to the Landlord for inspection receipts for payments of all Taxes which were due and payable during the Term within fourteen (14) Business Days following
receipt by the Tenant of each of such receipts for payment. The Landlord shall, not later than fourteen (14) Business Days following receipt of any assessment notices delivered to the Landlord by any taxing authority relating to the Premises or
any other structures, any machinery, equipment, facilities, and other property of any nature whatsoever thereon and therein, forward a copy thereof to the Tenant. The Tenant shall have the right from time to time to appeal any assessment of the
Lands or the Buildings or any other tax, rate, duty, charge, or amount referred to in this Section 6.1(a) provided that such appeal shall be at the sole cost and expense of the Tenant. The Landlord shall co-operate with the Tenant, at the
Tenant’s expense, in order to assist the Tenant with any such appeal. The Tenant shall be responsible for the payments referred to in this Section 6.1(a) from the Commencement Date. If the Tenant shall in any year during the Term fail to
pay the Taxes when due, the Tenant shall pay to the Landlord, on demand, interest on the amount outstanding at the percentage rate or rates established by the Province, or any other taxing authority for unpaid Taxes in the Province. 

(b) If the Landlord appeals any assessment of the Lands or the Buildings or any other tax, rate, duty, charge, or amount referred to in
Section 6.1(a) (which the Landlord may only do if, by the date that is 30 days prior to the deadline for filing the relevant appeal, the Tenant has not provided the Landlord with evidence demonstrating that it has filed an appeal), then:

  

	 	(i)	the Tenant shall co-operate with the Landlord, at the Tenant’s expense, in order to assist the Landlord with any such appeal; and 

 

	 	(ii)	the Tenant will reimburse the Landlord for all reasonable costs and expenses incurred by or on behalf of the Landlord for consulting, appraisal, legal and other
professional fees and expenses incurred by the Landlord in connection with any such appeal. 

 (c) Goods and Services Tax - The
Tenant shall without deduction or right of offset pay to the Landlord the amount of the Goods and Services Tax on any payments of Rent paid to the Landlord under this Lease at the same time as the amounts, to which the Goods and Services Tax apply,
are payable to the Landlord under this Lease. Regardless of any other provision of this Lease to the contrary, the amounts payable by the Tenant under this section are deemed not to be Rent, but the Landlord has all of the same remedies for and
rights of recovery for such amounts as it has for the recovery of Rent under this Lease, including, without limitation, the right to distrain against the Tenant’s property. 

  
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 (d) Tenant’s Taxes and Utilities - The Tenant shall promptly pay the Tenant’s Taxes and Utility
Costs to the applicable taxing authorities and the utility providers, as the case may be, as they become due and shall provide to the Landlord, when and if requested by the Landlord, the receipt for each payment made by the Tenant in respect of the
Tenant’s Taxes and Utilities Costs. 
 (e) Management Fee – The Tenant shall pay to the Landlord during the Term, the Management Fee
which shall be payable annually in advance in equal monthly installments on the first day of each and every month in each and every year of the Term commencing on the Commencement Date and continuing until and including the first day of the month in
which the Expiry Date falls. 
 (f) Additional Rent - The Tenant shall without deduction or right of offset pay all Additional Rent not referred
to in Sections 6.1(a), 6.1(b) and 6.1(d) payable under this Lease to the Landlord within fifteen (15) Business Days of receipt by the Tenant of an invoice setting out in reasonable detail such Additional Rent. 

 

	6.2	INSURANCE 

 (a) The Tenant shall, at its
sole cost and expense during the Term and during such other period of time that the Tenant occupies the Premises, take out and maintain in full force and effect, the following: 

 

	 	(i)	“all risk” insurance (including flood and earthquake) upon property of every description and kind owned by the Tenant, or for which the Tenant is legally
liable, or installed by or on behalf of the Tenant, including, without limitation, exterior glass, merchandise, stock-in-trade, furniture, fixtures, equipment, Leasehold Improvements and other property of every kind and description located at the
Premises, owned by the Tenant or for which the Tenant is responsible or legally liable, in an amount at least equal to the full insurable value thereof, calculated on a replacement cost basis without deduction for depreciation. Such policy shall
contain a contingent liability from enforcement of building by-laws endorsement, a stated amount clause and an inflation protection endorsement. The Landlord and every Mortgagee shall be named as an additional insured on such insurance policies, but
only in respect of the Leasehold Improvements. Such insurance policies may contain reasonable deductibles in amounts acceptable to the Landlord, acting reasonably, and which do not amount to the Tenant self-insuring; 

 

	 	(ii)	automobile liability insurance to a limit of liability of not less than Two Million Dollars ($2,000,000.00) in any one accident, covering all licensed motor vehicles
owned by the Tenant and used in connection with its business carried on from the Premises; 

  

	 	(iii)	comprehensive liability insurance applying to the operations of the Tenant carried on from the Premises and which shall include, without limitation, personal injury
liability, bodily injury, product liability, contractual liability, non-owned automobile liability and protective liability with respect to the occupancy of the Premises by the Tenant. The coverage under such insurance is to include the use,
activities and operations in the Premises by the Tenant and any other Person. Such policies shall be written on a comprehensive basis with limits of not less than $5,000,000.00 for any one occurrence, or such higher limits as the Landlord may
reasonably require from time to time. The Landlord, the Landlord’s property manager (if any) and the Mortgagee shall be named as additional insureds in such insurance policies; 

 

	 	(iv)	tenant’s all risks legal liability insurance in an amount not less than the replacement cost of the Building; 

 

	 	(v)	 broad form comprehensive boiler and machinery insurance on a blanket repair and replacement cost basis with limits for each accident in an amount at
least equal to the replacement cost (without depreciation) of all Leasehold Improvements and of all boilers, pressure vessels, heating, ventilating and air-conditioning equipment and miscellaneous electrical apparatus

  
 - 11 -

	 	
owned or operated by the Tenant (other than equipment owned by the Landlord) or by others (other than the Landlord) on behalf of the Tenant in the Premises or that relates to or serves the
Premises, subject to an agreed amount clause. The Landlord and every Mortgagee shall be named as an additional insured. The Tenant is only required to carry such insurance if it has in the Premises equipment that would be covered by such insurance;
and 

  

	 	(vi)	any other form or forms of insurance as the Landlord may reasonably require from time to time in amounts and for perils against which a prudent tenant carrying on a
similar business, acting reasonably, would protect itself in similar circumstances. Notwithstanding the foregoing, in no event shall the Tenant be required to take out or reimburse the Landlord for any insurance (other than the insurance described
in Section 7.5(a)(ii)) against the Tenant’s failure or inability to pay Rent or against the insolvency of or lack of credit worthiness or the like of the Tenant. 

 (b) All policies of insurance referred to in this Section 6.2 shall include the following provisions: 
  

	 	(i)	all policies shall be with insurers qualified to carry on business in the Province and who are acceptable to the Landlord; 

 

	 	(ii)	the policies shall not be affected or invalidated by any act, omission or negligence of any Person which is not within the knowledge or control of the insured or
additional insured thereunder; 

  

	 	(iii)	all policies shall contain an undertaking by the insurers to give the Landlord not less than thirty (30) days’ prior written notice of any cancellation or
other termination thereof, or any change which restricts or reduces the coverage afforded thereby; 

  

	 	(iv)	contain a clause stating that the Tenant’s insurance policy will be considered as primary insurance and will not call into contribution any other insurance that
may be available to the Landlord. 

 (c) All public liability insurance required pursuant to this section must contain a
severability of interest clause and cross liability clause. 
 (d) All property and boiler and machinery insurance must: 

 

	 	(i)	contain a dispute loss agreement clause if such insurance is with separate insurers; 

 

	 	(ii)	name the Landlord as the first loss payee in respect of the Leasehold Improvements. 

 (e) Prior to the Commencement Date, and within 10 days following the Landlord’s written request from time to time, the Tenant shall furnish to the Landlord a certificate of insurance either:

  

	 	(i)	in the form attached as Schedule “D”; or 

  

	 	(ii)	in a form which clearly evidences that the Tenant has taken out the insurance required by Section 6.2(a) and that such insurance: (A) complies with the
requirements of Section 6.2; (B) does not prohibit and will not be invalidated, limited or otherwise restricted as a result of the releases given by the Tenant in this Lease; and (C) is acceptable to the Landlord,

 and in either case, signed by the Tenant’s insurers or the authorized representative of the insurer. The Tenant shall
provide written evidence of the continuation of such policies not less than 5 Business Days prior to their respective expiry dates. No review, approval or acceptance of any insurance policy or certificate by the Landlord will in any way alter the
Landlord’s rights under this Lease or the Tenant’s obligations under this Section 6.2. 
 (f) Regardless of any other provision
of this Lease to the contrary, the Tenant hereby releases and waives any and all Claims against the Landlord and the Landlord’s Representatives with respect to occurrences to be insured against by the Tenant in accordance with its obligations
under this Lease and whether any such Claims arise as a result of the negligence or otherwise of the Landlord or the Landlord’s Representatives. 

  
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 (g) Regardless of any other provision of this Lease to the contrary, the Landlord hereby releases and
waives any and all Claims against the Tenant and the Tenant’s Representatives with respect to occurrences to be insured against by the Landlord in accordance with its obligations under this Lease and whether any such Claims arise as a result of
the negligence or otherwise of the Tenant or the Tenant’s Representatives. 
 (h) The Tenant shall not do or permit anything to be done
upon the Premises whereby any policy of insurance against loss or damage to the Premises or against legal liability for damage to persons or property caused by the ownership, maintenance, use or occupancy of the Premises, or by reason of the conduct
of any business carried on thereon, may be invalidated, and, for such purpose, upon receipt of notice in writing from any insurer of the Premises requiring the execution of works or a discontinuance of any operations in order to correct such
situation, the Tenant shall comply therewith. 
 (i) The Tenant agrees that if: 

 

	 	(i)	the Tenant fails to take out or keep in force any insurance coverage referred to in this Section 6.2; or 

 

	 	(ii)	if any such insurance is not approved by the Landlord and the Landlord’s Mortgagees, acting reasonably, 

and the Tenant does not rectify the situation within: 
  

	 	(iii)	in the case of Section 6.2(i)(i), two (2) Business Days after written notice by the Landlord to the Tenant of such failure; or 

 

	 	(iv)	in the case of Section 6.2(i)(ii), ten (10) Business Days, after written notice by the Landlord to the Tenant setting forth the Landlord’s objections,

 then the Landlord shall have the right, without assuming any obligation in connection therewith, to effect such insurance
coverage and shall have the right to recover all costs and premiums incurred in effecting such insurance coverage from the Tenant. In such event, the Tenant shall pay to the Landlord, as Additional Rent, the amount so paid by the Landlord within 30
days following the Tenant’s receipt of an invoice. 
 (j) In case of loss or damage under the Tenant’s insurance, the proceeds of
insurance for the Leasehold Improvements in the Premises shall be and are hereby assigned and made payable to the Landlord as first loss payee. If the Tenant is not in default of its obligations under this Lease, the Landlord shall, upon the
Tenant’s written request, release such proceeds to the Tenant in progress payments at stages determined by a certificate of the Landlord’s Expert stating that repairs to each such stage have been satisfactorily completed free of liens by
the Tenant. If the Tenant is in default of its obligations under this Lease, the Landlord shall be entitled to retain such proceeds without liability to the Tenant for interest or otherwise until the default has been, in the reasonable opinion of
the Landlord, remedied. If the Tenant fails to make such repairs, the Landlord may perform the repairs and apply the proceeds to the cost thereof. If the Lease is terminated upon the happening of any damage or any destruction as provided for in
Section 8.7 or for any other reason, all such proceeds of insurance shall be retained by the Landlord for the Landlord’s own use. 
  

	6.3	MANAGEMENT, MAINTENANCE AND REPAIR BY THE TENANT 

 (a) Except for the Structure, which is the Landlord’s responsibility in accordance with Section 7.2, the Tenant shall during the Term, at its cost, by itself or by the use of agents, manage,
maintain and keep in good order and condition (reasonable wear and tear excepted) the Land and the Building, and the appurtenances and equipment thereof, both inside and outside, including but not limited to fixtures, walls, windows, the Roof,

  
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vaults and similar devices, heating and air-conditioning equipment, sidewalks, landscaping, driveways, parking areas, yards and other like areas, water and sewer mains and connections, water,
steam, gas, and electric pipes and conduits, and all other fixtures on the Land and the Building and machinery and equipment used or required in the operation thereof, whether or not enumerated herein, and shall, in the same manner and to the same
extent as a prudent owner, make any and all necessary repairs, replacements, alterations, additions, changes, substitutions, and improvements, ordinary or extraordinary, foreseen or unforeseen, and keep the Building and aforesaid fixtures,
appurtenances, and equipment fully usable for all of the purposes for which the Building were erected and constructed and the aforesaid fixtures, appurtenances, and equipment were supplied and installed. Such repairs shall be in all respects to a
similar standard to the original work and material in the Building and aforesaid fixtures, appurtenances, and equipment. 
 (b) The Tenant shall
be responsible for: 
  

	 	(i)	the cost of maintaining the preventive maintenance contract on the HVAC system serving the Premises and for the cost of all repairs and replacements to the said HVAC
system and, if reasonably requested by the Landlord, shall provide the Landlord with a copy of the HVAC preventative maintenance agreement with a qualified contractor and copies of any service work orders for any service completed on the HVAC
system; 

  

	 	(ii)	snow ploughing and removal and salting/sanding of driveways, parking areas and sidewalks on the Lands, all as would be done by a reasonably prudent owner; and

  

	 	(iii)	landscaping of all landscaped areas forming part of the Lands. 

 (c) The Landlord acknowledges that the Tenant may be contracting with third party service providers or consultants to carry out the Tenant’s management, maintenance and repair obligations of the
Building as set out in this Lease. 
  

	6.4	ACCESS BY LANDLORD 

 (a) The Tenant shall
permit the Landlord and its duly authorised agents or nominees, with or without workers and others, at all reasonable times, but without materially interfering with the Tenant’s business operations, to enter upon the Premises for the purpose of
examining the state of repair, condition and use thereof, and to permit such entry after the Landlord shall have given forty-eight (48) hours’ notice in writing to the Tenant of such intended entry and examination and upon notice in
writing of defect or want of repair being given by the Landlord acting reasonably to the Tenant, to cause the same to be repaired, within thirty (30) days from the date of the giving of such notice by the Landlord, or such longer period as may
be reasonably required, provided that the Tenant is diligently proceeding with such repairs. If the Tenant shall at any time default in the performance or observance of any of the covenants in this Lease for or relating to the repair, maintenance,
cleaning, renewal or decoration of the Premises or any part thereof and the Tenant fails to commence the bona fide rectification of such default within thirty (30) days after notice in writing from the Landlord acting reasonably, of default, or
the Tenant thereafter fails to diligently proceed with such rectification, in respect of repair, maintenance, cleaning, renewal or decoration of the Premises, then the Tenant shall permit the Landlord and its duly authorised agents and nominees,
with or without workers and others, and without prejudice to the Landlord’s right of re-entry, to enter into and upon the Premises and repair, decorate, clean and maintain the same at the expense of the Tenant, and shall repay to the Landlord
on demand all reasonable third party costs and expenses, which shall be deemed to be Additional Rent, in respect of such repairs, maintenance, cleaning, renewal and decoration as aforesaid within 30 days following receipt of an invoice for such
costs. When accessing the Premises pursuant to this Section 6.4, the Landlord shall comply with the Tenant’s reasonable security, safety and sanitary rules and regulations. The Landlord may also exercise its rights in Section 6.4(a)
to enter the Premises to make such repairs and replacements as are the Landlord’s obligations under this Lease upon giving the Tenant forty-eight (48) hours’ notice in writing. 

  
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 (b) In order to effect any maintenance, repairs, replacements, alterations or improvements which are the
Landlord’s obligation under this Lease, or which the Landlord is entitled to carry out pursuant to this Lease, the Landlord may, without any liability whatsoever and without thereby constituting an interference with the Tenant’s rights
under this Lease or a breach by the Landlord of this Lease, and without thereby entitling the Tenant to any rights in respect thereof, temporarily suspend or modify the provision of utilities to the Premises. Except in the case of an emergency (real
or apprehended), the Landlord shall consult with the Tenant to coordinate the timing of any such suspension. 
 (c) The Tenant is not entitled
to any abatement in Rent as a result of the Landlord exercising its rights in this Section. 
  

	6.5	BUSINESS AND TRADE FIXTURES 

 The Tenant may install its usual business and trade fixtures in the usual manner in the Premises, provided such installation does not damage the Premises. All business and trade fixtures, equipment and
other personal property owned or installed by the Tenant or its predecessors in or on the Premises (the “Tenant’s Assets”) may be removed by the Tenant, from time to time during the Term and shall be removed by the Tenant on the
expiration or earlier termination of the Term. The Tenant, at its expense, shall repair any damage to the Premises caused by such removal. For clarity and without limiting the generality of the foregoing, the following items shall be considered as
being included as part of the Tenant’s Assets: 
  

	 	(a)	all interactive technology products and projectors; 

  

	 	(b)	laboratory equipment and fixtures; 

  

	 	(c)	computer Servers; and 

  

	 	(d)	art work. 

 If the Tenant does not remove the
Tenant’s Assets on the expiration or earlier termination of the Term, such Tenant’s Assets remaining on the Premises beyond the end of the Term (or such part of them as the Landlord may designate) will be deemed abandoned and become the
property of the Landlord and the Landlord may use them, retain them, destroy them, sell them (on such terms as the Landlord may determine, which need not be reasonable) or otherwise deal with them in such manner as the Landlord determines in its
sole and absolute discretion, all without any obligation, compensation or duty to account to the Tenant. For clarity, if the Landlord sells any such Tenant’s Assets in accordance with the foregoing, the Landlord will be entitled to retain all
proceeds received from such sale for its own account and without any duty to account to the Tenant. Upon the expiry or earlier termination of the Term, the Landlord may also remove such of the Tenant’s Assets as the Landlord may designate and
store them at the Tenant’s risk and expense. In any case, the Tenant shall indemnify and save harmless the Landlord for the costs of removing the Tenant’s Assets from the Premises and for the repair and restoration of the Premises caused
by the removal of the Tenant’s Assets. 
  

	6.6	ALTERATIONS AND ADDITIONS 

 (a) Except as
provided in Section 6.6(j), the Tenant shall not remove, alter, change or install any Leasehold Improvements or any make any alterations, additions or changes to the exterior of the Building or to the improvements on the Lands (collectively,
“Alterations”) without, in any and every such case, having first: 
  

	 	(i)	submitted plans and specifications thereof to the Landlord; and 

  

	 	(ii)	obtained the prior written consent of the Landlord thereto, which consent shall not be unreasonably withheld or delayed. 

  
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 (b) All Alterations shall be done: 

 

	 	(i)	in a good and workmanlike manner; 

  

	 	(ii)	in accordance with the plans and specifications approved by the Landlord 

  

	 	(iii)	at the sole cost of the Tenant; 

  

	 	(iv)	in accordance with all applicable Laws; and 

  

	 	(v)	with good quality materials. 

 (c) The Tenant is
responsible for all costs incurred by the Landlord (including, without limitation, fees of architects, engineers and designers) incurred in dealing with Tenant’s request for Landlord’s consent to any Alterations, whether or not such
consent is granted, and in inspecting and supervising any such Alterations. Such costs shall be paid by the Tenant to the Landlord within thirty (30) days following the Tenant’s receipt of an invoice for such costs. 

(d) The Tenant shall obtain and pay for all required building and occupancy permits in respect of the Alterations. The Tenant may not commence any
Alterations until it has provided the Landlord with copies of all required building permits. 
 (e) The Tenant shall, at its own cost and
expense, take out or cause to be taken out any additional insurance coverage reasonably required by the Landlord to protect the respective interests of the Landlord and the Tenant during all periods when any Alterations are being performed.

 (f) Any and all Leasehold Improvements, excluding the Tenant’s business and trade fixtures in or upon the Premises, whether placed there
by the Tenant or the Landlord or a previous occupant of the Premises, shall, immediately upon such placement, become and shall thereafter remain the property of the Landlord without compensation therefor to the Tenant. 

(g) Any Alterations made by the Tenant without the prior written consent of the Landlord or which are not in accordance with the drawings and
specifications approved by the Landlord shall, if requested by the Landlord, be promptly removed by the Tenant at its expense and the Premises restored to their previous condition. 
 (h) Upon completion of any Alterations, the Tenant shall provide to the Landlord as-built drawings for the Premises and shall secure all applicable statutory declarations and certificates of inspection,
approval and occupancy and provide evidence of same to the Landlord. 
 (i) Notwithstanding any consents granted by the Landlord to any proposed
Alterations, such consents relate only to the general acceptability of the proposed Alterations and that by giving such consents, the Landlord shall not be deemed to have any direct or indirect interest, responsibility or liability with respect to
such Alterations or the design, installation or maintenance of same or for the payment of same, all of which shall be the sole responsibility of the Tenant. 
 (j) Notwithstanding anything to the contrary contained in this Section, the Tenant shall have the right, without the need to first obtain the Landlord’s prior consent or approval, to install, repair
or remove Leasehold Improvements in and to the Building or make any Alterations, provided that such interior repairs or replacements shall not: (A) require changes to the Structure; and (B) cost in excess of two hundred thousand dollars
($200,000) per Lease Year, and further provided that the Tenant otherwise complies with the terms of Sections 6.6(b)(i), (iii), (iv) and (v), (d) and (f). 

  
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	6.7	REMOVAL OF ALTERATIONS 

Upon the expiration or earlier termination of this Lease, the Tenant shall: 

 

	 	(a)	remove such of the Alterations, and such computer and telephone cabling in the Building, as the Landlord advises the Tenant in writing (either before or after the
expiration of the Term) that it requires to be removed; and 

  

	 	(b)	remove from the Premises all exterior and interior signs which the Tenant erected or had erected, 

all such items being removed being called a “Removable Item” or “Removable Items”. Despite the foregoing, the Tenant is not required
to remove any Removable Item if doing would contravene the terms of the Ground Lease. The Tenant shall, in the case of every removal of a Removable Item, either during or at the end of the Term, make good any damage caused to the Premises by the
installation and removal of any Removable Item, reasonable wear and tear excepted, all at the Tenant’s sole cost and expense. The Tenant shall also, if required by the Landlord, restore the Premises to the condition in which it existed prior to
the installation of the Alterations, reasonable wear and tear excepted, that the Landlord has required the Tenant to remove, including the restoration of such standard fixtures as may have been installed by the Landlord and which were removed or
altered by the Tenant. 
  

	6.8	USE OF PREMISES 

 The
Tenant may use the Premises for any lawful purpose that is permitted by the applicable zoning by-laws, provided the Tenant shall not, at any time during the Term or any renewal thereof, commit or suffer to be committed any waste upon the Premises.

  

	6.9	SIGNS 

 (a) The Landlord confirms that the
Tenant’s signage on the Building on the Commencement Date is acceptable to the Landlord. 
 (b) The Tenant shall be permitted to install,
affix or exhibit upon any part of the Premises and the Building any Signs, provided such Signs comply at all times with the requirements of any lawful Authority having jurisdiction over the same and provided that the Tenant obtains the
Landlord’s prior written consent to the installation of such Signs. If any Sign no longer complies with the terms of the requirements of any lawful Authority having jurisdiction over the same, then the Tenant shall remove same at its sole cost
and expense within 30 days following the date that such Sign ceases to so comply. 
  

	6.10	OVERLOADING 

 The Tenant
shall not place in the Building any heavy machinery or equipment which would exceed the floor load capacity of the Building. If damage is caused to the Building or to the Land by the act, neglect, fault, want of skill, or misuse of or by the Tenant
or its agents, employees, contractors or others for whom it is in law responsible, the Tenant shall repair the damage. 
  

	6.11	ENVIRONMENTAL CONTAMINANTS 

 (a) The
Tenant shall use the Premises only in compliance with all Environmental Laws. 
 (b) The Tenant shall promptly provide to the Landlord a copy of
any environmental site investigation, assessment, audit or report relating to the Premises, conducted by or for the Tenant at any time. 

  
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 (c) The Tenant shall promptly provide to the Landlord on reasonable request such written authorisations as
the Landlord may reasonably require from time to time to make inquiries of any Authorities regarding the Tenant’s compliance with Environmental Laws. 
 (d) On the expiry or earlier termination of this Lease, the Tenant shall remediate any contamination of the Premises resulting from Environmental Contaminants brought onto, used or released from the
Premises during the Term, unless caused by the Landlord or the Landlord’s Representatives. The Landlord shall provide the Tenant with any required access to the Premises so that the Tenant may perform these obligations promptly at its own cost
and in accordance with Environmental Laws. The Tenant shall provide to the Landlord full information with respect to any remedial work performed pursuant to this Section and shall comply with the Landlord’s reasonable requirements with respect
to such work. The Tenant shall use a qualified environmental consultant to perform any required remediation. The Tenant shall, at its own cost, obtain such approvals and certificates in respect of the remediation as are required under Environmental
Laws to evidence completion of the remediation satisfactory to the applicable governmental authority having jurisdiction in connection with the relevant Environmental Laws. All such Environmental Contaminants shall remain the property of the Tenant,
notwithstanding any rule of law or other provision of this Lease to the contrary and notwithstanding the degree of their affixation to the Premises. 
 (e) The Tenant shall indemnify the Landlord and its directors, officers, shareholders, employees, agents, successors and assigns, from any and all Claims suffered or incurred by any of them (including,
without limitation, the cost of remediation of the Premises and any adjacent properties) arising from or in connection with any breach of or non-compliance with the provisions of this Section 6.11 by the Tenant. 

(f) The obligation of the Tenant to undertake clean-ups, to make repairs, obtain approvals and certificates, or otherwise comply with the obligations
under this Section 6.11 shall survive the expiry or earlier termination of this Lease. 
  

	6.12	ABATE NUISANCE 

 Upon
written notice to the Tenant from the Landlord or from any lawful authority having jurisdiction requiring the abatement of any unlawful nuisance caused by unlawful vibration, noise or smell or by any unlawful emission of smoke, vapour or dust caused
by the Tenant, the Tenant shall forthwith abate such nuisance accordingly. 
  

	6.13	ASSIGNMENT AND SUBLETTING 

 (a) Subject to
Section 6.13(b), Tenant may not effect a Transfer without the prior written consent of the Landlord in each instance, which consent will not be unreasonably or arbitrarily withheld and the decision as to whether or not such consent will be
given will not be unreasonably delayed. The consent by the Landlord to any Transfer to a Transferee, if granted, shall not constitute a waiver of the necessity for such consent to any subsequent Transfer. This prohibition against a Transfer is to be
construed so as to include a prohibition against any Transfer by operation of law. No Transfer shall take place by reason of a failure by the Landlord to reply to a request by the Tenant for consent to a Transfer. 

(b) Despite Section 6.13(a), the Tenant may assign this Lease or sublet or license the whole or any part of the Premises: 

 

	 	(i)	to an Affiliate of the Tenant, in which case the Tenant shall continue to be liable to the Landlord for payment of all amounts payable by the Tenant to the Landlord
under this Lease; 

  

	 	(ii)	to a successor of the Tenant by amalgamation or merger with an Affiliate of the Tenant or other corporate reorganization, in which case the Tenant shall continue to be
liable to the Landlord for payment of all amounts payable by the Tenant to the Landlord under this Lease; or 

  

	 	(iii)	in the case of an assignment or subletting, to a Tenant’s Lender as security for a bona fide borrowing by the Tenant (which may include a mortgage of this Lease),

  
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 (such Persons being called a “Permitted Transferee”) without the Landlord’s consent (a
“Permitted Transfer”), provided that: 
  

	 	(iv)	prior to the date of the Permitted Transfer: 

  

	 	(A)	the Tenant provides the following to the Landlord: 

  

	 	(I)	written notice of its intention to effect a Permitted Transfer and the name of the Permitted Transferee to whom the Permitted Transfer is to be made;

  

	 	(II)	evidence reasonably satisfactory to the Landlord that the Permitted Transferee qualifies as being a Permitted Transferee; and 

 

	 	(III)	a copy of the document giving effect to the Permitted Transfer; 

  

	 	(B)	if requested by the Landlord, the Tenant and the Permitted Transferee execute an agreement with the Landlord in which the Permitted Transferee agrees to be bound by all
of the Tenant’s Covenants insofar as they relate to the portion of the Premises which is the subject-matter of the Permitted Transfer (but no Permitted Transferee has to covenant with the Landlord to pay the Rent unless the Permitted Transferee
is an assignee) as if such Permitted Transferee had originally executed this Lease as tenant. If, however, the Permitted Transferee is a Lender, the Lender will have no obligation to observe or perform the Tenant’s Covenants until such time as
the Lender realizes upon its security over the Lease, whereupon the Lender shall then be responsible for the observance performance of the Tenant’s Covenant as if such Permitted Transferee had originally executed this Lease as tenant and for
rectifying all defaults of the Tenant under this Lease and which are capable of being rectified by a third party; and 

  

	 	(C)	the Tenant pays the Landlord for all reasonable legal expenses incurred by the Landlord in dealing with the Permitted Transfer; 

 

	 	(v)	the Tenant is not in default of any of the Tenant’s Covenants in respect of which the Landlord has given the Tenant written notice and the Tenant is not diligently
proceeding to rectify the default specified in such written notice; 

  

	 	(vi)	there is not an outstanding Event of Default; 

  

	 	(vii)	the provisions of Sections 6.13(e), 6.13(g), 6.13(h)(ii), 6.13(j) and 6.13(l) apply; and 

 

	 	(viii)	the Permitted Transferee retains at all time the characteristic that made it a Permitted Transferee at the time of the Permitted Transfer. Upon the Permitted Transferee
losing such characteristic, the Tenant shall be deemed to be in default of its obligations in Section 6.13, unless it complies with the provisions of this Section 6.13 (other than this Section 6.13(b)). 

(c) Notwithstanding the fact that the Landlord may not unreasonably withhold its consent to a Transfer, the Landlord will be considered to be reasonably
withholding its consent if its reason or reasons for doing so is or are based upon all or any of the following factors: 
  

	 	(i)	any applicable factor which a court of law in the Province of Alberta would consider to be reasonable for a landlord of a commercial property of a similar nature and
circumstance; 

  
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	 	(ii)	the Tenant is in default of any of the Tenant’s Covenants in respect of which the Landlord has given the Tenant written notice and the Tenant is not diligently
proceeding to rectify the default specified in such written notice; 

  

	 	(iii)	there is an outstanding Event of Default; 

  

	 	(iv)	a proposed change in the use of the Premises to other than the Permitted Uses; 

 

	 	(v)	the Transferee not having, in the Landlord’s opinion, a satisfactory financial covenant. 

 (d) If the Tenant intends to effect a Transfer, in whole or in part, the Tenant shall provide the Landlord with prior written notice of its intention to effect a Transfer, which written notice shall set
out the name of the proposed Transferee and its principals and be accompanied by such information regarding the proposed Transferee as the Landlord may reasonably require in order to determine whether or not to consent to the proposed Transfer,
including, without limitation, information concerning the principals of the Transferee, a detailed breakdown of the proposed Transferee’s, and its principals’, prior business experience, complete credit, financial and business information
regarding the proposed Transferee and its principals and a copy of all documents and agreements relating to the proposed Transfer. The Landlord will, within fifteen (15) days after having received such written notice and all such necessary
information, notify the Tenant in writing either that it consents (subject to the Tenant complying with all of the provisions of this Section on its part to be complied with) or does not consent to the Transfer. 

(e) If there is a Transfer of this Lease, the Landlord may collect Rent from the Transferee and apply the net amount collected to the Rent required to be
paid pursuant to this Lease, but no acceptance by the Landlord of any payments by a Transferee shall be deemed a waiver of the obligation to obtain the Landlord’s consent to a Transfer, or the acceptance of the Transferee as tenant, or a
release of the Tenant from the further performance by the Tenant of the Tenant’s Covenants. 
 (f) Any document evidencing an assignment
shall be prepared by the Landlord or its solicitors. Any document evidencing the Landlord’s consent to a Transfer shall be prepared by the Landlord or its solicitors. 
 (g) All reasonable legal and expenses incurred by the Landlord with respect to a request by the Tenant for the Landlord’s consent to a proposed Transfer will be promptly paid by the Tenant to the
Landlord, and, in any event, prior to the Landlord giving its consent. For clarity, such costs shall be paid by the Tenant whether or not the Landlord consents to the proposed Transfer if requested by the Landlord. 

(h) Every Transfer shall be conditional upon the Tenant and the Transferee executing an agreement with the Landlord providing for the following:

  

	 	(i)	the Transferee’s agreement to be bound by all of the Tenant’s Covenants by all of the Tenant’s Covenants insofar as they relate to the portion of the
Premises which is the subject-matter of the Permitted Transfer (but no Permitted Transferee has to covenant with the Landlord to pay the Rent unless the Permitted Transferee is an assignee) as if such Permitted Transferee had originally executed
this Lease as tenant; and 

  

	 	(ii)	if the Transferee is not an assignee, the Transferee’s agreement that, at the Landlord’s option, all of the Transferee’s right, title and interest in and
to the Premises absolutely terminates upon the surrender, release, disclaimer or merger of this Lease, despite the provisions of any Laws to the contrary. 

 (i) If, as a result of any Transfer, the Tenant is entitled, directly or indirectly, as a result of such Transfer to receive a rent, payment, fee or any other consideration, in the form of cash,
negotiable instrument, goods, services or in other form whatsoever, which is greater than the Basic Rent payable hereunder to the Landlord, then the Tenant shall pay one-half of any such excess to the Landlord forthwith within 10 days after receipt

  
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thereof by the Tenant from time to time. The Tenant shall immediately make available to the Landlord upon reasonable request, all of the Tenant’s books, records and documentation so as to
enable the Landlord to verify the receipt or the amount of any such excess. 
 (j) If this Lease is disclaimed or terminated by any trustee in
bankruptcy of any Transferee or by the Transferee in accordance with its rights under the Bankruptcy and Insolvency Act (Canada) or the Companies Creditors Arrangement Act (Canada), the Tenant shall not be released from its obligations under this
Lease, as amended by the document affecting the Transfer, and the Tenant shall, from the date of such disclaimer or termination, continuously, actively and diligently carry on business in the Premises pursuant to the terms of this Lease for the
balance of the Term. The Tenant’s obligations under this section shall survive any such disclaimer or termination. 
 (k) The Tenant agrees
that the Landlord shall have no liability for any losses, damages (direct, indirect, consequential, economic or otherwise), costs or expenses incurred by the Tenant as a result of the Landlord unreasonably withholding its consent to any Transfer.
The Tenant further acknowledges and agrees that the Tenant’s only remedy in respect of the Landlord unreasonably withholding its consent to a proposed Transfer shall be to bring an application to the courts for a declaration that such Transfer
should be allowed. 
 (l) Regardless of any Transfer permitted or consented to by the Landlord, the Tenant shall not be released from its
obligation to observe and perform all of the Tenant’s Covenants and the Tenant and the Transferee shall be jointly and severally liable for the performance of the Tenant’s Covenants. 

(m) The Landlord acknowledges that the following lease agreement and service provider agreement (together the “Current Agreements”) are
currently in effect in the Building: 
  

	 	(i)	Lease Agreement dated June 1, 2008 between Smart Technologies ULC, as landlord and Kids & Company Ltd. (“Kids & Co.”), as
tenant, with a term of five (5) years commencing on January 1, 2009 and expiring on December 31, 2014, subject to an extension term expiring on December 31, 2019.; and 

 

	 	(ii)	Food Services Management Agreement between SMART Technologies ULC and Fresh Selects Enterprises Inc. (“Fresh”), as service provider, dated
September 26, 2008. 

 The Landlord acknowledges and agrees that the Current Agreements shall remain in force and effect
during the respective terms and renewals or extensions thereof set out therein, shall not be assigned to the Landlord and that the Tenant shall be permitted to agree to any amendments to such Current Agreements directly with Kids & Co. and
Fresh, without the consent of the Landlord, provided any such amendments are not contradictory to the terms of this Lease. 
  

	6.14	CORPORATE OWNERSHIP 

 (a) Subject to
Section 6.14(c), if the Tenant is a corporation, or if the Landlord consents to an assignment of this Lease to a corporation, any transfer or issue by sale, assignment, bequest, inheritance, operation of law or other disposition, or by
subscription, from time to time of all or any part of the corporate shares of the Tenant or of any direct or indirect parent corporation of the Tenant which results in any change in the present effective voting control of the Tenant by the Person
holding such voting control at the date of execution of this Lease (or at the date an assignment of this Lease to a corporation is permitted) will be deemed a Transfer and the provisions of Section 6.13 will apply, mutatis mutandis, to
the fullest extent possible even though there will not be a Transferee. 
 (b) If the Tenant does not acquire the prior written consent of the
Landlord as required by Section 6.14(a), then without limiting any of the Landlord’s rights and remedies against the Tenant, the Landlord may terminate this Lease upon 5 days’ written notice to the Tenant given up to 60 days after the
date the Landlord becomes aware of the change of change of control contemplated by Section 6.14(a). The Tenant shall make available to the Landlord, or its lawful representatives, all corporate books and records of the Tenant for inspection at
all reasonable times, in order to ascertain whether there has been any change in control. 

  
 - 21 -

 (c) The preceding provisions of this Section 6.14(a) do not, however, apply to the Tenant if at such
time: 
  

	 	(i)	the Tenant is a public corporation whose shares are traded and listed on any recognized stock exchange in Canada or in the United States; or 

 

	 	(ii)	the Tenant is a private corporation but is controlled by a public corporation defined as aforesaid. 

 

	6.15	NO ADVERTISING OF THE PREMISES 

 The Tenant shall not print, publish, post, display or broadcast any notice or advertisement to the effect that the Premises are for lease or for sale or otherwise advertise the proposed sale or lease of
the whole or any part of the Premises and shall not permit any broker or other party to do any of the foregoing, unless the complete text and format of any such notice, advertisement or offer is first approved in writing by the Landlord. Without in
any way restricting or limiting the Landlord’s right to refuse any text or format on other grounds, no text proposed by the Tenant shall contain any reference to the rental rate of the Premises. 

 

	6.16	EASEMENTS 

 The Tenant
shall not, without the prior written consent of the Landlord, permit any encroachment, right of way, easement, licence or other encumbrance to be made or acquired into, against or upon the Building or the Land or any part thereof. The
Landlord’s consent shall not be unreasonably withheld or delayed. 
  

	6.17	LIENS 

 The Tenant shall
use commercially reasonable efforts to ensure that no claim of lien shall be filed in respect of any work which may be carried out by it or on its behalf on the Premises and, if a claim of lien shall be filed in respect of any such work, the Tenant
shall take all necessary steps to have the claim of lien cancelled and discharged from the title to the Land within thirty (30) days of the date the Tenant has knowledge of such filing and the Tenant shall indemnify and save harmless the
Landlord from any and all loss, cost, expense, damage and liability in respect of such claim of lien. If the Tenant fails to effect any such discharge within such thirty (30) day period, the Landlord, in addition to any right or remedy, may
discharge any claim of lien from the Land by paying the amount claimed to be due or by producing a discharge of such liens in each case by deposit in the appropriate court. In any such event the Tenant shall forthwith pay to and reimburse the
Landlord for all money reasonably expended by the Landlord and all reasonable costs and expenses incurred by the Landlord. 
  

	6.18	EXHIBIT PREMISES 

 (a) The Landlord shall
have the right to exhibit the Premises upon two (2) Business Days’ prior written notice to: 
  

	 	(i)	prospective tenants or, if applicable, subtenants (and their duly appointed agents), during the six (6) month period prior to the Expiry Date of the Term, unless
there is an Event of Default by the Tenant, in which case, at any time; and 

  

	 	(ii)	the Landlord’s Mortgagees, prospective mortgagees, any prospective purchaser of the whole or any part of the Landlord’s interest in the Premises, the
Landlord’s insurers, or potential insurers, the Landlord’s risk managers and such other Persons as the Landlord reasonably determines (and their duly appointed agents); 

  
 - 22 -

 and for such purposes the Landlord shall have the right of entry to the Premises at any reasonable time,
but without interfering with the Tenant’s business operations, and the Tenant, at its option, may have an employee or representative present at the time of such entry. 
 (b) In respect of any matters referred to in this Lease whereby the Landlord shall have access to the Premises, and in carrying out any such rights, the Landlord shall give reasonable Notice to the Tenant
prior to such entry (other than in the case of an emergency or security risk or apprehended emergency or security risk in which event no prior notice shall be required but the Landlord should give prompt Notice of such entry) provided that such
access to the Premises by the Landlord shall be on the basis that the Landlord shall be accompanied by a representative of the Tenant at all times to the extent practicable, but, for clarity, if the Tenant fails to provide a representative, the
Landlord may still have access to the Premises. 
  

	6.19	REGISTRATION OF LEASE 

The Tenant may, at its cost, register this Lease or a notice thereof against the title or leasehold title to the Land and the Landlord
shall execute such further documentation as may be necessary to this end, provided same is acceptable to the Landlord, acting reasonably. The Tenant’s Lender may, at its cost, register a mortgage or other security instrument against the form of
lease registered against the title or leasehold title to the Land and the Landlord shall execute such further documentation as may be reasonably necessary to such end, provided same is acceptable to the Landlord, acting reasonably. Such
documentation shall be subject to the Landlord’s approval, such approval to be obtained prior to the relevant documentation being registered on title to the Lands. The Tenant shall, at its sole cost and expense, discharge any documentation
which it registers on title to the Lands within thirty days (30) days following the expiration or earlier termination of this Lease, failing which the Landlord (or its lawyers) may do so and the Tenant hereby: 

 

	 	(a)	consents to the Landlord and the Landlord’s lawyers signing those documents necessary to discharge such documentation (and, in the case of the Landlord’s
lawyers, making all legal statements which are required to be made in order to obtain such discharge); 

  

	 	(b)	releases all Claims which it may have against the Landlord and the Landlord’s lawyers for discharging such documentation in accordance with the provisions of this
section; and 

  

	 	(c)	agrees to reimburse the Landlord for all reasonable costs incurred by the Landlord in discharging such documentation, same to be paid by the Tenant to the Landlord
within 30 days following the Tenant’s receipt of an invoice from the Landlord. 

  

	6.20	COMPLIANCE WITH LAWS 

 The
Tenant shall, at its sole cost, do, observe and perform all of its obligations and all matters and things necessary or expedient to be done, observed or performed by the Tenant by virtue of any Laws or lawful requirements of any Authority or any
public utility or railway company lawfully acting under statutory authority and all demands and notices in pursuance thereof whether given to the Tenant or the Landlord and in any manner or degree affecting the exercise or fulfillment of any right
or obligation arising under or as a result of this Lease and affecting the Premises, the use of the Premises by the Tenant or the conduct of any business in the Premises or the making of any repairs, replacements, alterations, additions, changes,
substitutions or improvements of or to the Premises (other than the Structure). If any such demand or notice is given lawfully requiring the execution of replacements, alterations, additions, changes, substitutions or improvements of or to the
Premises (other than the Structure), then: 
  

	 	(a)	if such notice is given to the Tenant, the Tenant shall promptly deliver the same or a true copy thereof to the Landlord and the Tenant shall promptly, at its own
expense, execute to the satisfaction of the Landlord and the person giving such notice all such work as the Landlord may approve in writing in order to comply with the requirements of the said notice; or 

 

	 	(b)	if such notice is given to the Landlord, the Landlord shall notify the Tenant and thereupon the Tenant shall, at its own expense, promptly execute to the satisfaction
of the Landlord and the person giving such notice all such works as the Landlord and the Person giving such notice may require in order to comply with the requirements of the said notice. 

  
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	6.21	PROVIDE FINANCIAL INFORMATION 

 Whenever any of the Landlord’s actual or potential Mortgagees, in connection with any financing of the Land or the Building or any part thereof, or any actual or potential purchaser of the Landlord
or the Landlord’s interest in the Premises (a “Purchaser”), requires information relating to the financial position of the Tenant, then the Tenant, within five (5) Business Days after receipt by it of a notice in writing from the
Landlord requesting such information, shall furnish directly to such Mortgagee or Purchaser copies of the then existing financial statements of the Tenant (or consolidated financials of its parent company, as applicable) and the Indemnifier
certified by the Tenant and the Indemnifier, respectively, including balance sheet and statements of profit and loss and surplus or deficit, in respect of each of the 3 years immediately preceding the year in which such notice is given, if Tenant
was in existence for such period. All such information shall be used by such Mortgagees in connection with such financing only and by such Purchaser in connection with deciding whether or not to proceed with such purchaser, and shall be supplied to
such Mortgagees or Purchaser, as the case may be, on the condition that the information be treated on a confidential basis and then only after such Mortgagee or Purchaser, as the case may be, has signed a reasonable form of confidentiality
agreement. 
  

	6.22	SUBORDINATION AND NON-DISTURBANCE 

 (a)
This Lease is and shall be subject, subordinate and postponed to all Landlord’s Mortgages to the intent that, without execution of any document other than this Lease, the Landlord’s Mortgages shall have priority over this Lease
notwithstanding the respective dates of execution, delivery or registration thereof, provided the Landlord’s Mortgagee and any other mortgagee seeking priority over this Lease from time to time, shall provide the Tenant and the Tenant’s
Lender with a non-disturbance agreement, in a form acceptable to the Landlord’s Mortgagee, the Tenant and the Tenant’s Lender, each acting reasonably, permitting the Tenant, or the Tenant’s Lender acquiring title to the Tenant’s
interest in the Premises, to continue in quiet possession of the Premises in accordance with the terms of this Lease, notwithstanding any default by the Landlord under any Landlord’s Mortgage. Promptly upon execution of this Lease by the Tenant
in respect of any Landlord’s Mortgages then registered against the title of the Land, the Landlord shall deliver to the Tenant from the Landlord’s Mortgagees an acknowledgement in writing addressed to the Tenant, whereby each such
Landlord’s Mortgagee acknowledges that, in the event of any such Landlord’s Mortgagee realizing upon the security, it will not disturb the Tenant and will permit the Tenant to remain in possession under this Lease in accordance with its
terms so long as there is not then a default by the Tenant. 
 (b) Without limiting the generality of the foregoing, the Tenant agrees to
execute, within fifteen (15) days following the written request of the Landlord or a Landlord’s Mortgagee, any document in confirmation of such subordination, postponement and priority which the Landlord may reasonably request, provided
that the Tenant receives a non-disturbance agreement of the type described in Section 6.22(a) from the relevant Landlord’s Mortgagee. 
  

	6.23	ATTORNMENT 

 Whenever
required by any of the Landlord’s Mortgagees under any of the Landlord’s Mortgages, or in the event of an exercise by any of the Landlord’s Mortgagees of the power of sale in any of the Landlord’s Mortgages or its right of
foreclosure, the Tenant shall attorn to and become, in each case, a tenant of such Landlord’s Mortgagee or any purchaser from such Landlord’s Mortgagee for the then unexpired residue of the Term upon all of the terms and conditions hereof,
provided that the Tenant’s use and occupation of the Premises are not disturbed and further provided that the Landlord’s Mortgagee or such purchaser recognizes the Tenant as the tenant under this Lease. The Tenant shall execute promptly
such documentation required to carry out the intent of this Section 6.23. 

  
 - 24 -

	6.24	ESTOPPEL CERTIFICATE 

 The
Landlord or Tenant shall at any time and from time to time upon ten (10) Business Days’ prior notice from the other execute and deliver to the requesting party and such other addressees as reasonably requested by such requesting party, a
statement in writing confirming the terms of this Lease, certifying: 
  

	 	(a)	that this Lease is unmodified and in full force and effect (or, if modified, stating the modifications and that the same is in full force and effect as modified);

  

	 	(b)	the amount of the Rent then being paid hereunder; 

  

	 	(c)	the dates to which the Rent and other charges hereunder have been paid; 

  

	 	(d)	whether, to the knowledge of the party providing such certificate, the parties have complied with all the terms of this Lease (but, in the case of the Landlord, the
Landlord will be under no obligation to carry out any inspection of the Premises in connection with the provision of such statement and may state in such certificate that it has not done so); 

 

	 	(e)	whether there are any outstanding set-offs or equities disclosed or undisclosed as between the Landlord and the Tenant; 

 

	 	(f)	whether any money other than a maximum of one month’s Rent in accordance with the provisions of the Lease has been prepaid by the Tenant to the Landlord; and

  

	 	(g)	any other reasonable particulars regarding this Lease and/or the Premises that the requesting party may require. 

 

	6.25	INDEMNIFY LANDLORD 

Subject to Section 6.2(g), the Tenant shall indemnify the Landlord and save it harmless from and against any and all Claims in
connection with: 
  

	 	(a)	all Claims of the Tenant and Persons permitted by it to be on the Premises by reason of the suspension, non-operation, or failure for any period of time of any
Utilities, heating, ventilating, air-conditioning or humidity control, except to the extent arising as a result of the negligence of the Landlord or the Landlord's Representatives; 

 

	 	(b)	the failure of the Tenant to observe and perform any of the Tenant’s Covenants; 

 

	 	(c)	the occupancy or use by the Tenant of the Premises, including, without limitation, the conduct and operation by the Tenant of its business on the Premises;

  

	 	(d)	any Environmental Contaminant being brought into, produced or maintained in, or discharged from, the Premises during the Term, unless the Landlord or the
Landlord’s Representatives are responsible for such Environmental Contaminant being on the Premises; and/or 

  

	 	(e)	any occurrence on the Premises however caused, except to the extent caused by the Landlord or any of the Landlord’s Representatives. 

If the Landlord, without actual fault on its part, is made a party to any litigation commenced by or against the Tenant, the Tenant shall protect and
hold the Landlord harmless and shall pay all costs and expenses, including all legal expenses, incurred or paid by the Landlord in connection therewith. 

  
 - 25 -

	6.26	DEPOSIT 

 (a) The Tenant shall provide the
Landlord with a security deposit in the amount of $450,000.00 (the “Deposit”) contemporaneously with the Tenant’s execution of this Lease. Such obligation may be satisfied by the Tenant providing to the Landlord an irrevocable letter
of credit (the “Letter of Credit”) which must: 
  

	 	(i)	be issued by a Canadian chartered bank or other financial institution acceptable to the Landlord (the “Issuing Institution”); 

 

	 	(ii)	be in the amount of the Deposit; 

  

	 	(iii)	be in a form acceptable to the Landlord; and 

  

	 	(iv)	be for a term of 1 year with automatic renewals or extensions for successive periods of 1 year. 

 (b) The Landlord will hold the Deposit to secure the fulfilment of all of the Tenant’s Covenants (including, without limitation, the payment of all amounts payable by the Tenant under this Lease) and
all damages and losses which the Landlord may suffer or incur as a result of this Lease being terminated by the Landlord or disclaimed in any bankruptcy or insolvency proceedings relating to the Tenant or any assignee of the Tenant, including,
without limitation, all amounts which would have been payable under this Lease but for such termination or disclaimer. Without limiting the generality of the foregoing, the Deposit shall secure and may, at the Landlord’s option, be applied on
account of any one or more of the following: 
  

	 	(i)	unpaid Rent, including, without limitation, any amount which would have become payable under this Lease to the date of the expiry of this Lease had this Lease not been
terminated or disclaimed in any bankruptcy or insolvency proceedings; 

  

	 	(ii)	the prompt and complete performance of all of the Tenant’s Covenants in addition to the payment of Rent; 

 

	 	(iii)	the indemnification of the Landlord for any losses, costs or damages incurred by the Landlord arising out of any failure by the Tenant to observe and perform any of the
Tenant’s Covenants; 

  

	 	(iv)	the performance of any obligation which the Tenant would have been obligated to perform to the date of the expiry of this Lease had this Lease not been terminated or
disclaimed in any bankruptcy or insolvency proceedings; and 

  

	 	(v)	the losses or damages suffered by the Landlord as a result of the termination of this Lease or the disclaimer of this Lease in any bankruptcy or insolvency proceedings.

 Upon the Tenant failing to observe or perform any of the Tenant’s Covenant or upon the occurrence of an Event of Default,
the Landlord may, in addition to any other rights and remedies provided for in this Lease or by law, appropriate and apply the entire Deposit, or so much thereof as the Landlord in its sole and absolute discretion deems necessary to compensate the
Landlord for the matters described in Sections 6.26(b)(i) to 6.26(b)(v). 
 (c) The Landlord may draw on the Letter of Credit by delivering to
the Issuing Institution a written demand for the amount being drawn by the Landlord, together with a certificate signed by an officer of the Landlord stating that the Landlord is entitled to draw the amount stated in the said written demand (an
“Entitlement Certificate”). 
 (d) The entire amount of the Letter of Credit is payable to the Landlord upon: 

 

	 	(i)	the bankruptcy of the Tenant, notwithstanding any disclaimer of this Lease by a trustee in bankruptcy; 

 

	 	(ii)	the Tenant taking the benefit of any statute for bankrupt or insolvent debtors or making any proposal, assignment or arrangement with its creditors; or

  

	 	(iii)	the Tenant electing to terminate this Lease in connection with a proposal made by the Tenant under the Bankruptcy and Insolvency Act (Canada), the Companies Creditors
Arrangement Act (Canada) or any other statute allowing the Tenant to terminate this Lease, 

  
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 as liquidated damages representing the parties genuine pre-estimate of the minimum amount of damages which
the Landlord is deemed to have suffered as a result of the occurrence of any of the foregoing events. Upon the occurrence of any of the foregoing events, the Landlord may draw upon the entire Letter of Credit by delivering to the Issuing Institution
a written demand for the entire amount of the Letter of Credit together with an Entitlement Certificate. 
 (e) The entire amount of the Letter
of Credit is payable to the Landlord (and will be held by the Landlord on the terms contained in this section) if the Landlord is advised by the Issuing Institution that it is electing not to extend or renew the Letter Credit and the Landlord is
entitled to have a Deposit, unless the Tenant provides the Landlord with a replacement letter of credit in a form acceptable to the Landlord at least 15 days prior to the expiry of the Letter of Credit. Upon the Landlord being so advised and the
Tenant failing to provide the Landlord with such a replacement letter of credit within the time specified above, the Landlord may draw upon the entire amount of the Letter of Credit by delivering to the Issuing Institution a written demand for the
entire amount of the Letter of Credit together with an Entitlement Certificate. The Landlord shall then hold the amount so drawn as the Deposit. If the Landlord has drawn down on the Letter of Credit pursuant to this Section 6.26(e) and the
Tenant subsequently delivers a new irrevocable letter of credit from an Issuing Institution in a form acceptable to the Landlord and in an amount equal to the amount so drawn by the Landlord, then the Landlord shall return to the Tenant the amount
so drawn within 10 Business Days following the Landlord’s receipt of such new letter of credit. 
 (f) If the Landlord draws upon the
Deposit (except in accordance with Section 6.26(e)), the Tenant shall, within 10 days following written demand being made by the Landlord, provide the Landlord with: 

 

	 	(i)	if the Landlord has drawn upon the Letter of Credit, a new irrevocable letter of credit in the same form as the original Letter of Credit and in an amount such that the
undrawn amount of all of the letters of credit provided by the Tenant to the Landlord equals the sum of the original Letter of Credit and the Landlord shall hold such new letter of credit upon the same terms as the original Letter of Credit; and/or

  

	 	(ii)	if the Landlord has drawn upon any cash portion of the Deposit being held by the Landlord, the Tenant shall upon notification by the Landlord pay to the Landlord the
amount required to reimburse it for the amount so applied. 

 (g) If the Landlord has not drawn upon the Deposit in accordance
with this section during the first 5 years of the Term, then the provisions of this Section 6.26 will cease to have effect, except that the Landlord shall, within 10 Business Days following the fifth anniversary of the Commencement Date, return
the Deposit to the Tenant. 
 (h) If section 6.26(g) is not applicable, then within 60 days following the expiration of this Lease, the Landlord
shall refund to the Tenant any unused portion of the Deposit. 
 (i) The Landlord will be discharged from any liability to the Tenant with
respect to the Deposit if it is transferred to any purchaser of the Landlord’s interest in the Premises or Lease. The Tenant is responsible for any fees charged by the Issuing Institution in connection with any such transfer. 

(j) The Landlord is not required to pay interest to the Tenant on any part of the Deposit. 

  
 - 27 -

 (k) The provisions of this section shall be deemed to be a separate agreement distinct and independent of
this Lease and which shall survive the termination of this Lease or the disclaimer of this Lease in any bankruptcy or insolvency proceedings. Accordingly, the rights of the Landlord under this section shall continue in full force and effect and
shall not be waived, released, discharged, impaired or affected by reason of the termination of this Lease by the Landlord or the disclaimer of this Lease in any bankruptcy or insolvency proceedings. 

(l) This Section 6.26 is deemed to be a separate agreement distinct and independent of this Lease and which will survive the termination of this
Lease or the disclaimer of this Lease in any bankruptcy or insolvency proceedings. Accordingly, the rights of the Landlord under this Section 6.26 will continue in full force and effect and will not be waived, released, discharged, impaired or
affected by reason of the termination of this Lease or by the disclaimer of this Lease in any bankruptcy or insolvency proceedings. 
  

	7.	LANDLORD’S COVENANTS 

 The Landlord covenants with the Tenant as follows: 
  

	7.1	QUIET ENJOYMENT 

 The
Landlord covenants with the Tenant that provided the Tenant pays the Rent hereby reserved and is not in default beyond any applicable cure periods pursuant to this Lease, the Tenant shall and may peaceably possess and enjoy the Premises for the Term
hereby granted, without interruption or disturbance from the Landlord, or any Person or Persons lawfully claiming by, from or under it. For clarity, the exercise by the Landlord of its rights hereunder or at law will not constitute a breach of this
Section. 
  

	7.2	LANDLORD REPAIR 

 (a) The Landlord
covenants with the Tenant to maintain and repair the Structure as would a prudent owner of a similar building, subject to Section 8.7 and except for normal wear and tear. The Landlord will be responsible for the costs of such maintenance and
repairs unless such maintenance or repair is required due to the act or omission or negligence of the Tenant or the Tenant’s Representatives, in which case the Tenant shall, subject to Section 6.2(g), pay such costs to the Landlord within
30 days following the date that the Landlord provides the Tenant with an invoice for such amount. 
 (b) If the Landlord shall at any time
default in the performance or observance of any of the covenants in Section 7.2(a) and fails to commence to complete the necessary maintenance or repairs within 30 days following receipt of a written notice from the Tenant specifying the
maintenance or repairs which the Landlord is in default of making (the “Notice Repairs”), or thereafter fails to diligently proceed to make the Notice Repairs, then the Tenant and the Tenant’s Representatives may, without prejudice to
the Tenant’s other rights, make the Notice Repairs. The Tenant shall act as a reasonably prudent owner in making the Notice Repairs. The Landlord shall reimburse the Tenant for the reasonable cost of making the Notice Repairs which it was
entitled to make pursuant this Section within 30 days following the date that the Tenant advises the Landlord of such costs and provides the Landlord with copies of paid invoices evidencing such costs and a certificate from the Tenant’s
contractor saying that the Notice Repairs have been completed in a good and workmanlike fashion and in compliance with all applicable Laws and that all costs in connection with the Notice Repairs have been paid. 

 

	7.3	INDEMNIFY TENANT 

 Subject
to Section 6.2(f), the Landlord shall indemnify and save harmless the Tenant from and against any and all Claims which may be suffered or incurred by the Tenant as a result of: 

 

	 	(a)	the Landlord failing to observe and perform the Landlord’s Covenants; and/or 

 

	 	(b)	in connection with any Injury, loss or damage to property arising from or out of any occurrence upon or at any part of the Premises arising out of wilful act or
negligence of the Landlord or the Landlord’s Representatives. 

  
 - 28 -

 If the Tenant, without actual fault on its part, is made a party to any litigation commenced by or against
the Landlord, the Landlord shall protect and hold the Tenant harmless and shall pay all costs and expenses, including all legal expenses, incurred or paid by the Tenant in connection therewith. 

 

	7.4	LANDLORD’S SIGNS 

The Landlord may at any time during the: 
  

	 	(a)	last 6 months of the Term, place upon the Premises a sign stating that the Premises are “For Lease”; 

 

	 	(b)	Term, place upon the Premises a sign stating the Premises are “For Sale”. 

 Such signs shall be of reasonable dimensions and shall be reasonably placed so as not to interfere with the Tenant’s business, and the Tenant shall not remove such signs, or permit same to be
removed. 
  

	7.5	LANDLORD’S INSURANCE 

 (a) The
Landlord shall effect and maintain during the Term: 
  

	 	(i)	“all-risks” property insurance on the Building and all property owned by the Landlord relative to the Building for an amount not less than replacement cost
thereof from time to time (including foundations), against loss or damage by perils or hereafter from time to time embraced by or defined in a standard all-risk insurance policy including but not limited to fire, explosion, impact by air craft or
vehicles, lightning, riot, vandalism, malicious acts, smoke, leakage from defective equipment, wind storm, hail, collapse, flood or earthquake; 

  

	 	(ii)	“all-risk” rent and rental value insurance insuring loss of insurable gross profits attributable to the perils insured against by the Landlord pursuant to
Section 7.5(a)(i), including loss of the Rent payable under this Lease, for an indemnity period of not less than 12 months; 

  

	 	(iii)	commercial general liability insurance on an occurrence basis covering all authorized employees, subcontractors and agents while working on behalf of the Landlord. Such
policy shall contain a limit of not less than $5,000,000.00 per occurrence and in the aggregate; and 

  

	 	(iv)	any other form or forms of insurance as the Landlord may reasonably require from time to time for insurance risks and in amounts against which a prudent landlord of
buildings similar to the Building in Calgary would protect itself. 

 (b) All such insurance policies may contain such deductibles
as would be carried by a prudent owner of a similar building having regard to size, age and location (the “Landlord Deductibles”). 

(c) The Tenant is responsible for the cost of the Landlord’s insurance, including the cost of the Landlord Deductibles, and the Tenant shall pay
such costs within 30 days following receipt of an invoice, from time to time, for such costs. However, the Tenant is not required to pay for any deductible payable in connection with an insurance claim where the occurrence giving rise to such claim
is an occurrence for which the Landlord is required to indemnify the Tenant pursuant to section 7.3. 
 (d) Despite the Landlord’s
covenants in Section 7.5(a) and the Tenant’s payment of the costs of the Landlord’s insurance: 
  

	 	(i)	no insurable interest is conferred upon the Tenant under any policies of insurance carried by the Landlord; and 

 

	 	(ii)	the Tenant is not entitled to share in or receive the benefit of any portion of any insurance proceeds received by the Landlord. 

  
 - 29 -

 The Landlord is not accountable to the Tenant regarding the use of any insurance proceeds arising from any
claim. Except for the release given by the Landlord to the Tenant pursuant to Section 6.2(g), if the Tenant wishes to receive indemnity by way of insurance for any property, work or thing whatever, the Tenant shall insure same for its own
account and may not look to the Landlord for reimbursement or recovery in the event of loss or damage from any cause, whether or not the Landlord has insured same and recovered therefor. 

 

	8.	MUTUAL COVENANTS, AGREEMENTS AND PROVISOS 

 AND IT IS HEREBY AGREED BY THE LANDLORD AND THE TENANT AS FOLLOWS: 
  

	8.1	ACTING REASONABLY 

Whenever a party (the “Deciding Party”) is making a determination (including, without limitation, a determination of whether or
not to provide its consent or approval where the Deciding Party’s consent or approval is required and whether or not reference is made to the Deciding Party making such determination in its sole discretion, or words of similar intent), opinion,
request, approval, designation, calculation, estimate, conversion or allocation under this Lease (collectively, a “Decision”), the Deciding Party shall (unless this Lease specifically provides to the contrary) act reasonably and shall not
unreasonably delay its decision on whether or not to give its consent. If the Deciding Party decides that it will not provide its consent or approval when requested to do so, it shall provide the party requesting such consent or approval (the
“Requesting Party”) with the reasons for its refusal at the same time as it advises the Requesting Party that it refuses to provide its consent or approval. Even though specific sections of this Lease may specifically require a party to
act reasonably or not act unreasonably (or words of similar intent) in making a Decision, the absence of such a specific requirement in other sections of this Lease requiring a party to make a Decision will not negate the provisions of this section
or be interpreted as though the provisions of this section do not apply to the making of such Decision. 
  

	8.2	APPROVAL IN WRITING 

Wherever a parties’ consent is required to be given under this Lease or wherever a party must approve any act or performance by the
other party, such consent or approval, as the case may be, will not be effective unless it is in writing. 
  

	8.3	DELEGATION OF AUTHORITY 

The Landlord’s property manager, and such other persons as may be authorized by the Landlord from time to time, may act on behalf of
the Landlord in connection with any matter contemplated by this Lease, including, without limitation, the giving of notices to the Tenant. 
  

	8.4	NO WARRANTIES 

 The
parties acknowledge and agree that no representations, warranties, agreements or conditions have been made other than those expressed herein, and that no agreement collateral hereto shall be binding upon either party unless it be made in writing and
duly executed on behalf of the such party. 
  

	8.5	NO WAIVER 

 (a) The failure of the
Landlord or Tenant to exercise any right or option in connection with any breach or violation of any term, covenant or condition herein contained shall not be deemed to be a waiver or 

  
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relinquishment of such term, covenant, or condition nor of any subsequent breach of the same or any other term, covenant or condition herein contained. The subsequent acceptance of the Rent or
any portion hereunder by the Landlord shall not be deemed to be a waiver of a preceding breach by the Tenant of any term, covenant or condition of this Lease. The acceptance by the Landlord of a part payment of any money required to be paid
hereunder shall not constitute waiver or release of the right of the Landlord to payment in full of such money. 
 (b) No receipt of monies by
the Landlord from the Tenant after the termination of this Lease in any lawful manner shall reinstate, continue or extend the Term, or affect any notice previously given to the Tenant or operate as a waiver of the right of the Landlord to enforce
the payment of Rent then due or thereafter falling due, or operate as a waiver of the right of the Landlord to recover possession of the Premises by proper suit, action, proceedings or other remedy. After the service of any notice to terminate this
Lease and the expiration of any time therein specified or after the commencement of any suit, action, proceeding or other remedy, or after a final order or judgment for possession of the Premises, the Landlord may demand, receive and collect any
monies due, or thereafter falling due without in any manner affecting such notice, suit, action, proceeding, order or judgment. Any and all such monies so collected shall be deemed payments on account of the use and occupation of the Premises or at
the election of the Landlord on account of the Tenant’s liability hereunder. 
  

	8.6	NOTICES 

 Any notice or
other communication required or permitted to be given by this Lease shall be in writing and shall be effectively given if: 
  

	 	(a)	delivered personally; 

  

	 	(b)	sent by prepaid courier service; 

  

	 	(c)	sent by registered mail; or 

  

	 	(d)	sent by fax, 

 in the case of notice to:

  

	 	(e)	the Tenant, at the address specified in Section 1.1(i); or 

  

	 	(f)	the Landlord, at the address specified in Section 1.1(j), 

 or such other addresses as the parties may from time to time advise by notice in writing. Any notice or other communication delivered personally or by prepaid courier service shall be deemed to have been
given and received on the day it is so delivered at such address, provided that if such day is not a Business Day such notice or other communication shall be deemed to have been given and received on the next following Business Day. Any notice or
other communication sent by registered mail shall be deemed to have been given and received on the third Business Day following the date of mailing. Any notice or other communication transmitted by fax shall be deemed to have been given and received
on the day of its transmission provided that such day is a Business Day and such transmission is completed before 5:00 p.m. (Alberta time) on such day, failing which such notice or other communication shall be deemed to have been given and received
on the first Business Day after its transmission. Regardless of the foregoing, if there is a mail stoppage or labour dispute or threatened labour dispute which has affected or could affect normal mail delivery by Canada Post, then no notice or other
communication may be delivered by registered mail. If two or more Persons are named as Tenant, such notice or other communication given hereunder shall be sufficiently given if sent in the foregoing manner to any one of such Persons. 

  
 - 31 -

	8.7	DAMAGE AND DESTRUCTION 

 (a) If at any
time during the Term the Building is damaged or destroyed by fire, lightning or tempest or by other casualty (the date of such damage or destruction being called the “Damage Date”), then the following provisions shall apply: 

 

	 	(i)	if: 

  

	 	(A)	in the opinion of the Landlord’s architect or engineer (the “Landlord’s Expert”) the Building is damaged or destroyed to such a material extent or
the damage or destruction is of such a nature that the Building must be or should be totally or partially demolished; 

  

	 	(B)	the damage or destruction is caused by an uninsured peril (being a peril not covered under the insurance to be maintained by the Landlord pursuant to this Lease); or

  

	 	(C)	if any Mortgagee exercises its rights under its Mortgage to apply all or part of the insurance proceeds received, or receivable, by the Landlord on account of such
damage or destruction so that there would not be sufficient insurance proceeds to pay for the estimated cost (as estimated by the Landlord) of the Landlord’s Reconstruction (as defined below), 

the Landlord may at its option terminate this Lease by giving to the Tenant notice in writing of such termination within 60 days
following the Damage Date, in which event this Lease and the Term hereby demised will cease and be at an end as of the Damage Date and the Rent will be apportioned and paid in full to the Damage Date. The Tenant will have a corresponding option to
terminate if Section 8.7(a)(i)(B) is applicable, but in the case of Section 8.7(a)(i)(B), only if the peril is one not covered under the insurance to be maintained by the Tenant pursuant to this Lease; 

 

	 	(ii)	if the damage or destruction is such that the Premises are rendered wholly unfit for occupancy or it is impossible or unsafe to use and occupy them, and if in either
event, the damage, in the opinion of the Landlord’s Expert cannot be repaired with reasonable diligence within 365 days from the Damage Date, then the Landlord or the Tenant may terminate this Lease by giving to the other notice in writing of
such termination within 60 days following the Damage Date, in which event this Lease and the Term hereby demised will cease and be at an end as at the Damage Date and the Rent will be apportioned and paid in full to the Damage Date. If neither party
terminates this Lease, the Landlord will do the Landlord’s Reconstruction and the Rent will abate from the Damage Date until the earlier of: 

  

	 	(A)	120 days following the date on which the Landlord has completed the Landlord’s Reconstruction; and 

 

	 	(B)	the date that the Tenant recommences its business operations in the Building, 

 the “Abatement Period”. The term “Landlord’s Reconstruction” in this Section means the reconstruction or repair of the Structure; 

 

	 	(iii)	if the damage or destruction is such that the Premises are wholly unfit for occupancy or if it is impossible or unsafe to use or occupy it, but if in either event the
damage, in the opinion of the Landlord’s Expert, can be repaired with reasonable diligence within 365 days from the Damage Date, the Landlord will do the Landlord’s Reconstruction and, unless the necessary repairs can be completed within
10 days from the Damage Date, the Rent will abate throughout the Abatement Period; 

  
 - 32 -

	 	(iv)	if in the opinion of the Landlord the damage or destruction to the Building can be made good, as aforesaid, within 365 days from the Damage Date and the damage or
destruction is such that a portion of the Premises is capable of being partially used for the purposes for which it is hereby demised, then the Landlord will do the Landlord’s Reconstruction and, unless the necessary repairs can be completed
within 10 days from the Damage Date, the Rent will abate proportionately to the part of the Premises rendered untenantable throughout the Abatement Period; 

 

	 	(v)	if this Lease is not terminated in accordance with the preceding provisions of this Section and the damage or destruction is such that a portion of the Building is
capable of being partially used for the purposes for which it is hereby demised, then despite the preceding provisions of this Section, the Rent will only abate proportionately to the part of the Building rendered untenantable throughout the
Abatement Period; 

  

	 	(vi)	in carrying out the Landlord’s Reconstruction, the Landlord may use plans and specifications and working drawings in connection therewith other than those used in
the original construction of the Building, so long as the reconstructed Building is materially similar to that originally constructed. 

 (b) The decision of the Landlord’s Expert as to the time in which the Building can or cannot be repaired, the state of tenantability of the Building and the date on which the Landlord’s
Reconstruction is completed, will be final and binding on the parties. The Landlord shall use reasonable efforts to cause the Landlord’s Expert to advise the Landlord and the Tenant of the length of time it will take to repair the damage to the
Building as soon as possible following the Damage Date. 
  

	8.8	PERFORMANCE BY LANDLORD 

 (a) If the
Tenant shall fail to observe or perform any of the Tenant’s Covenants (the “Unperformed Covenants”) and such failure results in an Event of Default of the type described in paragraph (a) or (b) of the definition “Event
of Default” arising, then the Landlord may, at its option, and without waiving or releasing the Tenant from the strict performance of the Tenant’s Covenants, perform such of the Unperformed Covenants as the Landlord considers desirable in
such manner and to such extent as the Landlord considers desirable and in doing so may pay any necessary and incidental costs and expenses. If the Landlord commences or completes either the performance or the causing to be performed of any of the
Unperformed Covenants, the Landlord shall not be obliged to complete such performance or causing to be performed or be later obliged to act in like fashion. All amounts paid by the Landlord in exercising its rights in this Section will be deemed
Additional Rent and the Tenant shall pay such amounts within 30 days following receipt of an invoice from the Landlord. In addition, if the Landlord shall suffer or incur any damage, loss, cost or expense whatsoever for which the Tenant is in any
way liable hereunder, by reason of any failure of the Tenant to observe or comply with any of the Unperformed Covenants, then in every such case the reasonable amount of any such damage, loss, cost or expense shall be due and payable by the Tenant
to the Landlord on demand by the Landlord and the Landlord shall have the right at its option to add the cost or amount of any such damage, loss, cost or expense to the Rent hereby reserved and any such amount shall thereupon immediately be due and
payable as Rent and recoverable by the Landlord by all remedies available to the Landlord for the recovery of Rent in arrears. 
 (b) In the
event of a real or reasonably apprehended emergency the Landlord may enter the Premises, at any time of the day without any prior notice to the Tenant and without any compensation to the Tenant therefore, and attend to any such repairs or
alterations as may be required to secure or ensure the safety of the Premises. 
  

	8.9	RE-ENTRY ON DEFAULT 

 The
Tenant further covenants with the Landlord that upon the occurrence of an Event of Default, the Landlord, in addition to any other remedy now or hereafter provided, may re-enter and take possession immediately of the Premises or any part thereof in
the name of the whole by reasonable force if necessary 

  
 - 33 -

 
without any previous notice of intention to re-enter and may remove all persons and property therefrom and may use such reasonable force and assistance in making such removal as the Landlord may
deem advisable to recover at once full and exclusive possession of the Premises and such re-entry shall not operate as a waiver or satisfaction in whole or in part of any right, claim or demand arising out of or connected with any breach,
non-observance or non-performance of any covenant or agreement on the part of the Tenant to be kept, observed or performed. For clarity, such property may be removed and sold or disposed of by the Landlord in such manner as the Landlord in its sole
and absolute discretion deems advisable or may be stored in a public warehouse or elsewhere at the cost and for the account of the Tenant, all without service of notice or resort to legal process and without the Landlord being considered guilty of
trespass or becoming liable for any loss or damage which may be occasioned thereby including any such loss or damage caused by the negligence of the Landlord or its servants and agents. In the event the Landlord sells such property in accordance
with the foregoing, the Landlord shall be entitled to retain all proceeds received from such sale for its own account, provided that the Landlord will apply such proceeds against the damages suffered by the Landlord as a result of such re-entry.
Notwithstanding the foregoing, the Landlord shall not sell such property for 10 Business Days following the date of its re-entry and the Tenant shall be entitled to remove such property from the Premises during such 10 day period under the
Landlord’s supervision. 
  

	8.10	DEFAULT 

 If an Event of
Default occurs, then and in every case the Tenant shall be and be deemed to be in default under this Lease; the then current and the next ensuing three (3) months’ Basic Rent, Parking Rent and any additional money owing hereunder shall
immediately become due and payable; the Landlord may re-enter and take possession of the Premises, or any part thereof in the name of the whole, and have again, repossess and enjoy the Premises in its former estate, anything herein to the contrary
notwithstanding, as though the Tenant were holding over after the expiration of the Term; and the Term and any renewal thereof shall, at the option of the Landlord, forthwith become forfeited and determined and the then current and the next ensuing
three (3) months’ Basic Rent, Parking Rent and any additional money owing hereunder shall be recoverable by the Landlord as if it were Rent in arrears, but the Tenant shall remain liable under this Lease. 

 

	8.11	SALE AND RELETTING 

 The
Tenant further covenants and agrees that upon the Landlord becoming entitled to re-enter upon the Premises under any of the provisions of this Lease the Landlord, in addition to all other rights and remedies, shall have the right to enter the
Premises as the agent of the Tenant either by reasonable force or otherwise, without being liable for any prosecution therefor and without terminating this Lease, make any alterations and repairs which the Landlord deems necessary in order to re-let
the Premises, or any part thereof, as agent for the Tenant for such term or terms (which may be for a term extending beyond the Term) and at such rent and upon such other terms, covenants and conditions as the Landlord in its sole and absolute
discretion considers advisable. Upon each such re-letting all rent received by the Landlord will be applied as follows: 
  

	 	(a)	first to the payment of any indebtedness other than Rent due hereunder; 

  

	 	(b)	second, to the payment of any costs and expenses of re-letting, including brokerage fees and solicitors’ fees and the costs of all alterations and repairs to the
Premises which the Landlord, in its sole and absolute discretion, deems necessary in order to re-let the Premises; 

  

	 	(c)	third, to the payment of Rent due and unpaid hereunder; and 

  

	 	(d)	the residue, if any, will be held by the Landlord and applied in payment of future Rent as same becomes due and payable hereunder. 

If the rent received from such re-letting during any month is less than that payable by the Tenant under the terms of this Lease, the Tenant will pay any
such deficiency in advance on the first day of each month. If the Landlord has other premises available in the Premises for lease, the Landlord shall be under no obligation whatsoever to 

  
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first re-let, or attempt to re-let, the Premises ahead of such other available premises and the Landlord shall be entitled to lease all such other available premises prior to re-letting the
Premises, and in so leasing such other available premises, the Landlord will not be in breach of any obligation on its part, if any, to mitigate its losses upon re-entering or taking possession of the Premises. The Landlord will in no way be
responsible or liable for any failure to re-let the Premises or any part thereof, or for any failure to collect any Rent due upon any such re-letting. Notwithstanding any re-entry or re-letting without termination of this Lease, the Landlord may at
any time thereafter elect to terminate this Lease for the previous breach. No re-entry or taking possession of the Premises by the Landlord will be construed as an election on its part to terminate this Lease unless a written notice of such
intention is given to the Tenant. 
  

	8.12	TERMINATION 

 The Tenant
further covenants and agrees that upon the Landlord becoming entitled to re-enter upon the Premises under any of the provisions of this Lease the Landlord, in addition to all other rights and remedies, shall have the right to terminate this Lease.
The Landlord may effect such termination by written notice to Tenant (a “Termination Notice”), it being understood and agreed to by the Tenant that actual possession of the Premises shall not be required to effect a termination of this
Lease and that the delivery of a Termination Notice to the Tenant alone shall be sufficient. If the Landlord terminates this Lease, in addition to any other remedies it may have, the Landlord may recover from the Tenant all damages it incurs by
reason of the Tenant’s breach, including, without limitation, the cost of recovering the Premises, brokerage fees and solicitors’ fees, the cost of all tenant inducements, alterations and repairs to the Premises which the Landlord, in its
sole and absolute discretion, deems necessary in order to re-let the Premises and the worth at the time of such termination of the excess, if any, of the amount of Rent required to be paid pursuant to this Lease for the remainder of the Term (had
this Lease not been terminated) over the then rental value of the Premises, as determined by the Landlord, for the remainder of the Term (had this Lease not been terminated), all of which amounts shall be immediately due and payable by the Tenant to
the Landlord. Upon any termination of this Lease, the Landlord shall be entitled to retain all of the monetary deposits provided by the Tenant as liquidated damages on account of the minimum amount of damages which the parties agree the Landlord
will suffer as a result of such termination, all without the necessity for any legal proceedings. In no circumstances whatsoever is the Landlord required to return the said deposits or any part thereof to the Tenant. Nothing in this Section shall be
interpreted in any way as derogating from any duty that the Landlord may have at law to mitigate its damages as a result of such termination. 
  

	8.13	DISTRESS 

 (a) Whenever the Landlord shall
be entitled to levy distress against the goods and chattels of the Tenant it may use such reasonable force as it may deem necessary for that purpose and for gaining admission to the Premises without being liable for any action in respect thereof or
for any loss or damage occasioned thereby and the Tenant hereby expressly releases the Landlord from all actions, proceedings, claims or demands whatsoever for or on account of or in respect of any such forcible entry or any loss or damage sustained
by the Tenant in connection therewith. 
 (b) Notwithstanding the foregoing, the Landlord will postpone its right to levy distress against the
Tenant’s personal property in favour of the Tenant’s Lenders upon the Tenant and the Tenant’s Lenders executing the Landlord’s standard form of lender agreement, subject to such changes as may be requested by the Tenant or the
Tenant’s Lenders and agreed to by the Landlord. 
  

	8.14	LANDLORD’S EXPENSES IN ENFORCING THIS LEASE 

 If the Landlord retains the services of any Person for the purpose of assisting the Landlord in enforcing any of its rights hereunder or otherwise available at law, or advising the Landlord on such
matters or on a breach by the Tenant of any of the Tenant’s Covenants, the Tenant shall pay to the Landlord, as Additional Rent, the cost of all such services (including, but not limited to, all legal expenses) incurred in connection therewith
and in connection with all necessary court proceedings at trial or on appeal on a solicitor and own client basis, within 10 days following receipt of an invoice from the Landlord. 

  
 - 35 -

	8.15	REMEDIES CUMULATIVE 

 No
remedy conferred upon or reserved to the Landlord under this Lease, by statute or otherwise, shall be considered exclusive of any other remedy, but the same shall be cumulative and shall be in addition to every other remedy available to the Landlord
and all such remedies and powers of the Landlord may be exercised concurrently and from time to time and as often as the Landlord deems expedient. If the Landlord re-enters or terminates the Lease, the Landlord shall take all steps required to
mitigate its damages. 
  

	8.16	HOLDING OVER 

 Upon the
expiration of this Lease by the passage of time and the Tenant remaining in possession of the Premises: 
  

	 	(a)	there will be no implied renewal or extension of this Lease; 

  

	 	(b)	if the Landlord consents in writing to the Tenant remaining in possession, the Tenant will be deemed, notwithstanding any statutory provision or legal assumption to the
contrary, to be occupying the Premises as a monthly tenant, which monthly tenancy may be terminated by either party on 30 days written notice to the other, which 30 day period need not end on the last day of a calendar month;

  

	 	(c)	if the Landlord does not consent in writing to the Tenant remaining in possession, the Tenant will be deemed, notwithstanding any statutory provision or legal
assumption to the contrary, to be occupying the Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any notice to the Tenant; and 

 

	 	(d)	the Tenant will occupy the Premises on the same terms and conditions as are contained in this Lease (including, without limitation, the obligation to pay Additional
Rent), save and except that: 

  

	 	(i)	the Term and the nature of the tenancy will be as set out in Section 8.16(b) or 8.16(c), as the case may be; 

 

	 	(ii)	the Minimum Rent and Parking Rent payable by the Tenant will be paid monthly at a rate equal to: 

 

	 	(A)	if the Tenant is overholding pursuant to Section 8.16(b), 110% of the amount of monthly Minimum Rent and Parking Rent which it was responsible for paying during
the last 12 months of the Term); or 

  

	 	(B)	if the Tenant is overholding pursuant to Section 8.16(c), twice the amount of monthly Minimum Rent and Parking Rent which it was responsible for paying during the
last 12 months of the Term. 

 Unless the Landlord has otherwise agreed in writing, such Minimum Rent will be
payable by the Tenant regardless of whether or not the Landlord fails to request such Minimum Rent and/or accepts the monthly Minimum Rent which the Tenant was paying during the last 12 months of the Term; and 

 

	 	(e)	the Tenant is not entitled to take the benefit of any rights to extend, rights of first refusal, options to purchase or any other rights personal to the Tenant and
which may be contained in this Lease. 

  
 - 36 -

 The Tenant is estopped and forever barred from claiming any right to occupy the Premises on terms other
than as set out in this Section and the Landlord may plead this section in any court proceedings. If the Tenant is overholding pursuant to Section 8.16(c), then the Tenant shall indemnify and save harmless the Landlord from all Claims suffered
or incurred by the Landlord as a result of the Tenant remaining in possession of all or any part of the Premises following the expiry of the Term. Nothing in this section is to be interpreted: (i) as permitting or giving the Tenant an option to
stay in possession of the Premises following the expiry of the Term and the Tenant shall surrender the Premises to the Landlord on the expiry of the Term; or (ii) in any way as derogating from any duty that the Landlord may have at law to
mitigate its damages. 
  

	8.17	INABILITY TO PERFORM 

Whenever and to the extent that the Landlord or Tenant are unable to fulfill, or are delayed or restricted in the fulfillment of any
obligation hereunder (an “Affected Obligation”) by reason of being unable to obtain the material, goods, equipment, service, utility or labour required to enable it to fulfill any such obligation or by reason of any Laws or by reason of
the order or direction of any Authority, or by reason of not being able to obtain any permission or authority required thereby, or by reason of any other cause beyond its control whether of the foregoing character or not (other than lack of funds)
(collectively, “Force Majeure”), the Landlord or Tenant, as the case may be, will be entitled to extend the time for fulfillment of the Affected Obligation by a time equal to the duration of such delay or restriction, and the other party
will not be entitled to compensation for any inconvenience, nuisance or discomfort or damage thereby occasioned, and will not be entitled to cancel or terminate this Lease. For clarity, the provisions of this Section do not operate to excuse the
Tenant from its obligation to pay Rent when due. The party claiming the benefit of Force Majeure must inform the other party in writing promptly on learning of such delay (but the failure to do so will not deprive such party of the benefit of this
provision or subject such party to any liability to the other party) and will, where possible, use commercially reasonable efforts to mitigate the effect of such delay. 

 

	8.18	INTEREST 

 Interest on any
money due to the Landlord under this Lease shall be paid by the Tenant and shall accrue on a daily basis at the rate of two percent (2%) more than the rate of interest, per annum, from time to time publicly quoted by the Royal Bank of Canada,
at its main branch in Toronto, Ontario, as the reference interest (commercially known as the “prime rate”) used by it to determine rates of interest chargeable in Canada on Canadian dollar demand loans to its commercial customers, such
rate of interest to be calculated and compounded monthly, not in advance, from the respective date upon which any such money becomes due to the Landlord. 
  

	8.19	EXPROPRIATION 

 If the
whole of the Premises (or any material portion of the Premises such that the Tenant’s business operations conducted from the Premises are materially detrimentally affected) shall be acquired or condemned by an Authority having the power for
such acquisition or condemnation, then the Term shall cease from the date of entry by such Authority. Each party is entitled to recover damages from such Authority for the value of their respective interests or for such other damages and expenses
allowed by applicable Laws. 
  

	8.20	ACCRUAL OF BASIC RENT AND PARKING RENT 

 Rent shall accrue from day to day from the Commencement Date. If, for any reason, it becomes necessary to calculate Rent for an irregular period of less than 1 year or less than 1 calendar month, then
appropriate apportionment and adjustment shall be made on a per diem basis based upon a period of 365 days. For clarity, where the calculation of any Additional Rent is not made until the termination or expiry of this Lease, the obligation of the
Tenant to pay such Additional Rent will survive the termination or expiry of this Lease. 

  
 - 37 -

	8.21	NET LEASE 

 Save as
specifically set forth in this Lease, all costs, expenses and obligations of every kind and nature whatsoever relating in any way whatsoever, whether directly or indirectly, to the Premises, whether or not herein referred to and whether or not of a
kind now existing or within the contemplation of the parties hereto, shall be paid by the Tenant. Notwithstanding the foregoing, the Tenant shall not be responsible to pay or reimburse the Landlord for: 

 

	 	(a)	the Landlord’s income tax and personal taxes; 

  

	 	(b)	in the case of HOOPP Realty Inc. (“HOOPP”), HOOPP’s Capital Taxes; 

 

	 	(c)	interest on the Landlord’s debt or capital retirement of the Landlord’s debt; 

 

	 	(d)	the costs associated with maintaining, repairing or replacing the Structure or any part thereof (except as contemplated by Section 7.2(a));

  

	 	(e)	any insurance (other than the insurance described in Section 7.5(a)(ii)) against the Tenant’s failure or inability to pay Rent or against the insolvency of or
lack of credit worthiness or the like of the Tenant; or 

  

	 	(f)	damages, interest, fees, fines and penalties imposed upon the Landlord and resulting from its failure to perform any of the Landlord’s Covenants.

  

	8.22	GOVERNING LAW 

 This Lease
shall be construed in accordance with, and governed by, the laws of the Province. 
  

	8.23	NUMBER AND GENDER 

 Where
required the singular number shall be deemed to include the plural and the neuter gender the masculine or feminine. 
  

	8.24	COVENANTS 

 The Landlord
and the Tenant agree that all of the provisions of this Lease are to be construed as covenants and agreements as though the words importing such covenants and agreements were used in each separate provision thereof. If for any reason whatsoever any
term, covenant or condition of this Lease, or the application thereof to any Person, firm or corporation or circumstance, is to any extent held or rendered invalid, unenforceable or illegal, then such term, covenant or condition: 

 

	 	(a)	is deemed to be independent of the remainder of the Lease and to be severable and divisible therefrom, and its validity, unenforceability or illegality does not affect,
impair or invalidate the remainder of the Lease or any part thereof; and 

  

	 	(b)	continues to be applicable to and enforceable to the fullest extent permitted by law against any Person and circumstance other than those as to which it has been held
or rendered invalid, unenforceable or illegal. 

  

	8.25	TIME OF THE ESSENCE 

 Time
is of the essence of this Lease. 

  
 - 38 -

	8.26	HEADINGS 

 Any captions,
headings and marginal notes throughout this Lease are for convenience and reference only and the words and phrases contained therein shall in no way be held or deemed to define, limit, describe, explain, modify, amplify or add to the interpretation,
construction or meaning of any provision of or the scope or intent of this Lease nor in any way affect this Lease. 
  

	8.27	ENUREMENT 

 This Lease
shall extend to, be binding upon and enure to the benefit of the Landlord and the Tenant and their respective heirs, executors, administrators, successors and permitted assigns. 

 

	8.28	JOINT AND SEVERAL LIABILITY 

 All covenants, liabilities and obligations entered into or imposed upon the Tenant, if more than one person, and the Landlord, if more than one person, shall be joint and several covenants, liabilities
and obligations. 
  

	8.29	CONTINUATION OF OBLIGATIONS 

 This Lease and the obligations of the Tenant hereunder shall continue in full force and effect notwithstanding any change in the person or persons comprising the Landlord. 

 

	8.30	LANDLORD’S LIMIT OF LIABILITY 

 (a)
The term “Landlord” as used in this Lease so far as covenants or obligations on the part of the Landlord are concerned shall be limited to mean the Landlord as hereinbefore set out while it retains its interest in the Premises, but upon a
sale, transfer or other disposition of that interest, the Landlord shall be automatically and immediately relieved from all liability arising out of the requirement for the future performance of any obligations on the part of the Landlord herein
contained from and after the effective date of such sale, transaction or other disposition to the extent such obligations are assumed by the Landlord’s successors and assigns by way of their providing a written covenant to the Tenant to observe
and perform the Landlord’s Covenants. 
 (b) The Tenant will look solely to the interest of the Landlord in the Premises for the collection
or satisfaction of any money or judgement which the Tenant may recover against the Landlord and the Tenant will not look for the collection or satisfaction of any such money or judgement from any of the other assets of the Landlord or of any person
who is at any time a partner, joint venturer or co-tenant with the Landlord in the Premises. 
  

	8.31	CONFIDENTIALITY 

 The
Landlord and the Tenant and their respective agents shall keep confidential all financial information in respect of this Lease and all information that is obtained as a result of the exercise of their respective rights hereunder provided that both
parties may disclose such information to their auditors, consultants, lenders (actual and potential), insurers, professional advisors and potential purchasers, who shall be instructed to keep such information confidential. In addition, either party
may disclose such information: 
  

	 	(a)	if it ceases to be confidential, other than as a result of the party seeking to disclose it; 

 

	 	(b)	in any litigation or arbitration proceedings between the parties; and 

  

	 	(c)	as may be required by applicable Laws. 

  
 - 39 -

	8.32	AMENDMENTS 

 This Lease
shall constitute the entire agreement between the parties hereto with respect to the subject matter hereof and shall not be modified, amended or waived except by an instrument in writing duly executed and delivered by the parties hereto or by their
successors and permitted assigns. 
  

	8.33	APPLICATION OF GROUND LEASE 

 (a) The
Tenant shall observe, perform and be bound by each and every provision of the Ground Lease to be observed and performed by the tenant thereunder (the “Ground Lease Covenants”), to the same manner and extent as if such provisions were
contained in this Lease as covenants of the Tenant, except: 
  

	 	(i)	for the obligation to pay the rent payable by the Landlord under the Ground Lease (the Tenant’s obligation to pay Rent being specifically dealt with in this
Lease); and 

  

	 	(ii)	to the extent this Lease specifically amends, reduces or extends the extent to which the Tenant is required to observe and perform the Ground Lease Covenants.

 (b) The Landlord shall observe and perform all of the Ground Lease Covenants insofar as same are not required to be observed
and performed by the Tenant pursuant to the terms of this Lease. 
 (c) Wherever the Landlord is required under the Ground Lease to obtain the
Head Landlord’s consent in order to perform or carry out a certain activity, the Tenant will be similarly required to obtain the Head Landlord’s consent prior to performing or carrying out such activity. 

(d) If the Ground Lease is terminated, this Lease shall likewise be terminated, but without prejudice to the rights of either party hereunder in the
event of termination of the Ground Lease occurring as a result of a breach of this Lease. 
  

	8.34	INDEMNIFICATION 

 An
Indemnification Agreement is attached to this Lease as Schedule “C” and constitutes an integral part of this Lease. Despite such attachment, however, such Indemnification Agreement is deemed to be a separate agreement distinct and
independent of this Lease and which will survive the expiration of this Lease, the termination of this Lease or the disclaimer of this Lease in any bankruptcy or insolvency proceedings. 

 

	8.35	SURVIVAL OF OBLIGATIONS 

 (a) If the
Tenant is in default of any of any of the Tenant’s Covenants at the time this Lease expires or is terminated: 
  

	 	(i)	the Tenant remains fully liable for the performance of such Tenant’s Covenants; and 

 

	 	(ii)	all of the Landlord’s rights and remedies in respect of such failure remain in full force and effect, 

all of which will be deemed to have survived such expiration or termination of this Lease. 
 (b) Regardless of the expiry or earlier termination of this Lease: 
  

	 	(i)	every indemnity, exclusion or release of liability and waiver of subrogation contained in this Lease or in any of the parties’ insurance policies; and

  

	 	(ii)	those provisions of this Lease which are intended to have effect beyond the end of the Term (including, without limitation, the Landlord’s obligation in
Section 6.26(g)), will survive the expiration or termination of this Lease and continue in full force and effect. 

  
 - 40 -

	8.36	NO ADVERSE PRESUMPTION 

This Lease has been negotiated and approved by the parties and, notwithstanding any rule or maxim of law or construction to the contrary,
any ambiguity or uncertainty will not be construed against either of the parties b reason of the authorship of any of the provisions of this Lease. 
  

	8.37	GROUND LEASE 

 Each of the
parties confirms that it has received and reviewed a copy of the Ground Lease. 
  

	9.	SCHEDULES 

 The
following Schedules are hereby incorporated in and form a part of this Lease for all purposes: 
  

			
	Schedule “A”	  	Legal Description of the Land
	Schedule “A-1”	  	Site Plan of Lands
	Schedule “A-2”	  	Floor Plans of Premises
	Schedule “B”	  	Additional Provisions
	Schedule “C”	  	Indemnification Agreement
	Schedule “D”	  	Insurance Certificate

 (signature page to follow) 

  
 - 41 -

 IN WITNESS WHEREOF the parties hereto have executed this Lease. 

 

					
	SMART TECHNOLOGIES ULC
		
	Per:	 	 /s/ Kelly Schmitt

		 	Name:	 	Kelly Schmitt
		 	Title:	 	Vice President Finance & CFO
		
	Per:	 	 /s/ Jeff Losch

		 	Name:	 	Jeff Losch
		 	Title:	 	VP, Legal & General Counsel
	
	I/We have the authority to bind the corporation
	
	HOOPP REALTY INC.
		
	Per:	 	 /s/ Michael A.J. Catford

		 	Name:	 	Michael A.J. Catford
		 	Title:	 	President
		
	Per:	 	 /s/ Richard Varkey

		 	Name:	 	Richard Varkey
		 	Title:	 	Vice President
	
	I/We have the authority to bind the corporation

  
 - 42 -

 SCHEDULE “A” 

LEGAL DESCRIPTION OF THE LAND 
 ALL AND SINGULAR that certain parcel or tract of land and premises situate, lying and being in the City of Calgary, Province of Alberta, and more particularly known and civically and legally
described as: 
 Legal Description 
 Plan 9812871 
 Block 3 
 Lots 4 and 5 
 Excepting Thereout All Mines and Minerals 

Area: 1.117 hectares (2.76 acres) more or less 

Municipal Address 
 3636 Research
Road NW 
 Calgary, Alberta 

 SCHEDULE “A-1” 

SITE PLAN OF LAND AND BUILDING 

 SCHEDULE “A-2” 

FLOOR PLANS OF PREMISES 

 SCHEDULE “B” 

ADDITIONAL PROVISIONS 
  

	1.	Interpretation 

 In this
Schedule “B”, all references to: a section are deemed to refer to the applicable section of the Lease to which this Schedule “B” is attached; and, a paragraph are deemed to refer to the applicable paragraph of this Schedule
“B” 
  

	2.	Conditions to Exercise of Rights 

 The Tenant may only exercise its rights in paragraphs 3 and 4 if: 
  

	 	(a)	the Tenant is not in default of any of the Tenant’s Covenants in respect of which the Landlord has given the Tenant written notice and the Tenant is not diligently
proceeding to rectify the default specified in such written notice; 

  

	 	(b)	there is not an outstanding Event of Default; 

  

	 	(c)	the Tenant is in possession of and is conducting its business in a majority of the Premises; and 

 

	 	(d)	the Tenant has not assigned the Lease, other than to a Permitted Transferee. 

 

	3.	Options to Extend Term 

 (a) Provided the
Tenant is entitled to do so pursuant to paragraph 2 at the time of its exercise of the applicable option, the Tenant shall have four (4) options to extend the Term for a period of five (5) years each (each being an “ Extension
Period”) on the same terms and conditions as are contained in this Lease, except for the amount of Basic Rent and Parking Rent payable, which shall be equal to the then current market basic rent and parking rent for the Premises determined on
the basis set out below in this paragraph. 
 (b) Each Extension Period shall commence on the day immediately succeeding the expiry of the
initial Term, or the then expiring Extension Period, as the case may be. The Tenant may only exercise an option to extend the Term by each Extension Period by giving notice in writing to the Landlord at least nine (9) months but no greater than
twelve (12) months prior to the date on which such Extension Period would commence, failing which the within right to extend will be rendered null and void. 
 (c) Each time that the Tenant exercises its right to extend the Term in accordance with the foregoing, the Term shall automatically be extended for the Extension Period, this Lease will be read as if the
original term of the Lease was for a period of time commencing on the Commencement Date and ending on the last day of the relevant Extension Period and the Basic Rent and Parking Rent shall be determined as follows: 

 

	 	(i)	one hundred and eighty (180) days prior to the commencement of the applicable Extension Period, the Landlord and the Tenant shall commence negotiations to settle
the Basic Rent and Parking Rent payable for the upcoming Extension Period. The Basic Rent and Parking Rent for an Extension Period will be the fair market basic rent and parking rent, determined as of the commencement of the Extension Period, that a
tenant and a landlord would agree to after negotiating at arm’s length and based upon then existing basic rent and parking rent for such Extension Period for comparable premises in a similar location in Calgary, Alberta, on the basis that the
Premises are improved to their then existing level, and further taking into account appropriate adjustments for the uses of such comparable premises, and the site coverage ratio and zoning thereof, and whether or not the rents for such comparable
premises were negotiated on the basis of such premises being vacant, unimproved, and/or free of trade fixtures and free rent, tenant improvements, and other similar inducements or benefits reflected in the rents for such comparable premises that are
given on extensions or renewals (but excluding those given in connection with a new lease); 

	 	(ii)	if the Basic Rent and Parking Rent for the relevant Extension Period have not been mutually agreed upon by the Landlord and the Tenant at least 3 months prior to the
commencement of such Extension Period, the Basic Rent and the Parking Rent for such Extension Period will be determined by arbitration by a single arbitrator chosen by the parties, and if they cannot agree upon the arbitrator within 5 days after the
written request for arbitration by either party to the other, either party may apply to a judge for the appointment of an arbitrator in accordance with the provisions of the Arbitration Act (Alberta). The provisions of the Arbitration Act
(Alberta) will govern the arbitration and the decision of the arbitrator will be final and binding upon the parties. The parties shall instruct the arbitrator to render its decision no later than 15 days prior to the commencement of the relevant
Extension Period. If the Basic Rent and the Parking Rent for an Extension Period has not been determined by the commencement of such Extension Period, then: 

 

	 	(A)	the Tenant shall pay Basic Rent and Parking Rent equal to the average of what is being sought by the parties in the arbitration; and 

 

	 	(B)	upon the Basic Rent and Parking Rent for such Extension Period being determined, any adjustments in Basic Rent and Parking Rent will be made effective the commencement
of such Extension Period and shall be paid by the relevant party within 15 days following the date of such determination. 

 Each party is responsible for its own costs in connection with the arbitration and the costs of the arbitrator will be shared equally by the parties. 

(d) The exercise of the within rights to extend are solely within the control of the Tenant and nothing contained in this Lease, including, without
limitation, this Schedule, obligates or requires the Landlord to remind the Tenant to exercise the within rights to extend. 
  

	4.	Right of First Offer 

 (a) If at any time
during Term: 
  

	 	(i)	the Tenant is entitled to the benefit of this paragraph pursuant to paragraph 2; and 

 

	 	(ii)	the Landlord wishes to sell the Premises at any time during the Term, 

 then prior to commencing sale activities with respect to the Premises the Landlord shall first give a written notice (the “Offering Notice”) to the Tenant stating that the Landlord is
prepared to accept an offer to purchase the Premises upon certain terms and conditions. For clarity, the sale of the Premises means the sale of the Building and the assignment of the Ground Lease. The Offering Notice shall contain all of the
material terms and conditions on which the Landlord will agree to sell the Premises, including but not limited to the sale price. The Tenant shall have thirty (30) days from the date of receipt of the Offering Notice (the “Submission
Period”) to provide the Landlord with an agreement of purchase and sale for the Premises setting out the terms proposed by the Landlord in the Offering Notice (a “Purchase Agreement”), which will have a closing date no earlier than
forty-five (45) days from the date that the parties sign the Purchase Agreement. 
 (b) If the Tenant submits a Purchase Agreement to the
Landlord within the Submission Period, the Landlord and the Tenant shall endeavour and use best commercial efforts, in good faith to agree upon the terms of the Purchase Agreement and sign same within 15 Business Days following the date the Landlord
first receives the Offer (the “Negotiation Period”). 

  
 - 2 -

 (c) If the Landlord and the Tenant agree upon and sign the Purchase Agreement within the Negotiation
Period, then the Purchase Agreement shall govern the purchase of the Premises by the Tenant. 
 (d) If: 

 

	 	(i)	the Tenant fails to submit a Purchase Agreement to the Landlord within Submission Period; or 

 

	 	(ii)	the Tenant submits a Purchase Agreement to the Landlord within the Submission Period but the Landlord and the Tenant are unable to agree upon and sign the Purchase
Agreement within the Negotiation Period, 

 (such date being called the “ROFO Rejection Date”), then the Landlord shall
be entitled to market and sell the Premises to any third party purchaser on substantially the same terms and conditions as contained in the Offering Notice provided that the sale price to any third party purchaser may be no less than ninety-seven
(97%) percent of the sale price set out in the Offering Notice. In the event the Landlord has not completed a sale of the Premises to a third party purchaser upon such terms within one (1) year following the ROFO Rejection Date, the
Landlord must again comply with paragraph 4(a) and submit a new Offering Notice to the Tenant prior to selling the Premises to a third party purchaser. 
 (e) If the Landlord completes a sale of the Building to a third party purchaser, the preceding provisions of this paragraph will continue to apply in full force and effect for the benefit of the Tenant
and as against such third party purchaser. 

  
 - 3 -

 SCHEDULE “C” 

INDEMNIFICATION AGREEMENT 
 THIS AGREEMENT made —. 
 B E T W E E N :

 HOOPP REALTY INC. 
 (the “Landlord”) 
 - and - 

SMART TECHNOLOGIES INC. 
 (the “Indemnifier”) 
 RECITALS: 

 

	1.	By a lease made as of — (the “Lease”) and made between the Landlord and Smart Technologies ULC (the
“Tenant”), the Landlord leased to the Tenant the lands and building (the “Premises”) municipally known as 3636 Research Road NW, Calgary, Alberta, as more particularly described in the Lease, for a term of 20 years commencing on — and ending on —, both dates inclusive, subject to the Tenant observing and performing all of the terms, covenants, conditions and provisions in the Lease
on the part of the Tenant to be observed and performed (the “Covenants”); 

  

	2.	The Landlord only entered into the Lease on the condition that the Indemnifier enter into this Agreement with the Landlord, which is attached as a schedule to the
Lease; 

 NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the Landlord entering into the Lease and
for other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged by each of the parties), the parties covenant and agree as follows: 

 

	1.	Indemnity 

 (a) The Indemnifier covenants
and agrees with the Landlord that at all times during the Term and any extension or renewal of the Term it will: 
  

	 	(i)	observe and perform all of the Covenants; and 

  

	 	(ii)	indemnify, reimburse and hold harmless the Landlord from and against any and all claims, damages (direct, indirect, consequential or otherwise), losses, liabilities,
demands, suits, judgments, causes of action, legal proceedings, penalties or other sanctions and any all costs and expenses arising in connection therewith, including, without limitation, legal fees and disbursements on a solicitor and his own
client basis (including, without limitation, all such legal fees and disbursements in connection with any and all appeals) which may in any way result from or arise out of or be in relation to any non-observance or non-performance of the Covenants.

 For clarity, nothing in this Agreement is intended to impose on the Indemnifier any greater liability than what would be the
case if the Indemnifier were the tenant under the Lease. 
 (b) Nothing in this section or elsewhere in this Agreement will be construed so as
to: 
  

	 	(i)	release the Indemnifier or limit its obligations in a situation where the Lease is terminated before the expiry of the Term by the passage of time; or

  

	 	(ii)	confer any rights on the Indemnifier to occupy or use the Premises, or to claim any interest or rights in the Premises or the Lease, whether or not the Indemnifier is
required to perform any Covenants under this Agreement or the Lease. 

	2.	No Release 

 The within
indemnity is absolute and unconditional and the obligations of the Indemnifier under this Agreement shall not be released, discharged, mitigated, postponed, suspended, reduced, impaired, compromised or affected by any reason whatsoever, including,
without limitation, the following: 
  

	 	(a)	any extensions of time, indulgences or modifications which the Landlord may extend to or make with the Tenant in respect of the performance of any of the Covenants;

  

	 	(b)	any waiver by or failure of the Landlord to enforce any of the Covenants; 

  

	 	(c)	any Transfer (as defined in the Lease) by the Tenant or by any trustee, receiver or liquidator; 

 

	 	(d)	any consent which the Landlord may give to a Transfer; 

  

	 	(e)	any changes or amendments to the Lease; 

  

	 	(f)	the release or discharge of the Tenant or any Transferee (as defined in the Lease) in any receivership, bankruptcy, winding-up or other creditors’ proceeding or
the rejection, disaffirmance or disclaimer of the Lease in any such proceeding; 

  

	 	(g)	the expiration of the Term; or 

  

	 	(h)	any exercise by the Landlord of any of its rights under the Lease, including, without limitation, the right to re-enter the Premises (as defined in the Lease) and
terminate the Lease. 

 In addition, if any of the Covenants are postponed, suspended, reduced or compromised for
any reason (including, without limitation, pursuant to the Bankruptcy and Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada) or any other statute), the Indemnifier agrees that its obligation to observe and
perform such Covenants shall not be postponed, suspended, reduced or compromised. 
  

	3.	Waiver of Notice 

 The
Indemnifier expressly waives notice of the acceptance of the within indemnity and notice of non-performance, non-payment or non-observance on the part of the Tenant of the Covenants. 

 

	4.	Defaults 

 In the event of
the occurrence of an Event of Default under the Lease or in the event of a default under this Agreement, the Indemnifier waives any right to require the Landlord to: 
  

	 	(a)	proceed against the Tenant or pursue any rights or remedies with respect to the Lease; 

 

	 	(b)	proceed against or exhaust any security of the Tenant or any other Person and which is held by the Landlord; or 

 

	 	(c)	pursue any other remedy whatsoever in the Landlord’s power. 

  
 5 

 The Landlord has the right to enforce the within indemnity regardless of the acceptance of
additional security from the Tenant or any other Person and regardless of the release or discharge of the Tenant, or any other Person who has provided security to the Landlord, by the Landlord or by others or by operation of any law. 

 

	5.	Recoveries 

 No action or
proceeding brought or instituted under this Agreement and no recovery in pursuance of this Agreement shall be a bar or defence to any further action or proceeding which may be brought under this Agreement by reason of any further default or defaults
in the performance and observance of the Covenants or of this Agreement. 
  

	6.	Effect of this Agreement 

Without limiting any other provision of this Agreement, the Indemnifier shall be bound by this Agreement in the same manner as though the
Indemnifier were the tenant named in the Lease. If two or more Persons execute this Agreement as Indemnifier, the obligations of each such Person under this Agreement shall be joint and several. In like manner, if the Indemnifier is a partnership or
other business association, the members of which are by virtue of statutory or general law subject to personal liability, the liability of each such member is joint and several. 

 

	7.	Enter Into Lease 

 Without
limiting any other provision of this Agreement, in the event of the discharge of the Tenant in any receivership, bankruptcy, winding-up or other creditors’ proceeding or the rejection, disaffirmance or disclaimer of the Lease in any proceeding,
the Indemnifier shall, upon written demand by the Landlord, enter into a lease with the Landlord containing the Covenants, except for the term of such new lease which shall continue for the balance of the term of the Lease. 

 

	8.	General Contract Provisions 

  

	(a)	Recitals 

 Each of the
parties represents and warrants to the other that each of the recitals set out above is true and correct in substance and in fact, as such recital relates to such party, and such recitals are incorporated as an integral part of this Agreement.

  

	(b)	Entire Agreement 

 This
Agreement, including any Schedules attached to this Agreement, constitutes the entire agreement between the parties pertaining to the subject matter of this Agreement and supersede all prior agreements, understandings, negotiations and discussions,
whether oral or written, of the parties. There are no representations, warranties or other agreements, whether oral or written, between the parties in connection with the subject matter of this Agreement except as specifically set out in this
Agreement. No amendment, supplement, modification, waiver or termination of this Agreement shall be binding on the parties unless same is in writing and signed by all of the parties. 

 

	(c)	Waiver 

 No waiver of any
provision of this Agreement shall be deemed to constitute a waiver of any other provision, whether or not similar, nor shall such waiver constitute a continuing waiver unless otherwise expressly provided. No forbearance by any party to seek a remedy
for any breach by any other party of any provision of this Agreement shall constitute a waiver of any rights or remedies with respect to any subsequent breach. 

  
 6 

	(d)	Interpretation 

 In this
Agreement, words importing the singular include the plural and vice-versa, words importing gender include all genders and words importing persons include corporations and vice-versa. All capitalized terms in this Agreement shall have the meaning
given to such terms in the Lease, unless the context otherwise requires. The division of this Agreement into Articles and sections and the insertion of headings is for convenience of reference only and shall not affect the construction or
interpretation of this Agreement or any part of it. Any reference to an Article, section or Schedule in this Agreement shall be deemed a reference to the applicable Article, section or Schedule contained in this Agreement and to no other agreement
or document unless specific reference is made to such other agreement or document. Even though this Agreement may be attached as a Schedule to the Lease, such attachment is for convenience only and despite such attachment this Agreement shall be
deemed to be a separate agreement distinct and independent of the Lease. 
  

	(e)	Applicable Law 

 This
Agreement shall be construed in accordance with the laws of the Province of Alberta and the laws of Canada applicable in the Province of Alberta and shall be treated in all respects as an Alberta contract. 

 

	(f)	Counterparts and Execution by Fax 

 This Agreement may be executed by the parties in separate counterparts each of which when so executed and delivered to all of the parties shall be deemed to be and shall be read as a single agreement
among the parties. In addition, execution of this Agreement by any of the parties may be evidenced by way of a faxed transmission of such party’s signature (which signature may be by separate counterpart), or a photocopy of such faxed
transmission, and such faxed signature, or photocopy of such faxed signature, shall be deemed to constitute the original signature of such party to this Agreement. 
  

	(g)	Assignability 

 Neither
this Agreement nor any rights or obligations of the Indemnifier may be assigned by the Indemnifier. 
  

	(h)	Notices 

 Any notice or
other communication which either party may wish to give to the other shall be in writing and shall be effectively given if: 
  

	 	(i)	delivered personally; 

  

	 	(ii)	sent by prepaid courier service; 

  

	 	(iii)	sent by registered mail; or 

  

	 	(iv)	sent by fax, 

 in the case of
notice to: 
  

	 	(v)	the Landlord at: 1 Toronto Street, Suite 1400, Toronto, Ontario M5C 3B2 

 Attention:
—                                 
                           Fax No. — 

 

	 	(vi)	the Indemnifier at: 3636 Research Park NW, Calgary, Alberta T2L 1Y1 

 Attn.: Vice President, Finance and Chief Financial Officer 
 Fax No.: 403-245-0366

  
 7 

 or at such other address as the party to whom such notice or other communication is to be given shall have
advised the party giving same in the manner provided in this section. Any notice or other communication delivered personally or by prepaid courier service shall be deemed to have been given and received on the day it is so delivered at such address,
provided that if such day is not a Business Day such notice or other communication shall be deemed to have been given and received on the next following Business Day. Any notice or other communication sent by registered mail shall be deemed to have
been given and received on the third Business Day following the date of mailing. Any notice or other communication transmitted by fax shall be deemed to have been given and received on the day of its transmission provided that such day is a Business
Day and such transmission is completed before 5:00 p.m. on such day, failing which such notice or other communication shall be deemed to have been given and received on the first Business Day after its transmission. Regardless of the foregoing, if
there is a mail stoppage or labour dispute or threatened labour dispute which has affected or could affect normal mail delivery by Canada Post, then no notice or other communication may be delivered by registered mail. If two or more Persons are
named as Indemnifier, such notice or other communication given hereunder shall be sufficiently given if sent in the foregoing manner to any one of such Persons. 
  

	(i)	Further Assurances 

 The
parties shall with reasonable diligence do all things and provide all such reasonable assurances as may be required to consummate the transactions contemplated by this Agreement. Each party shall provide and execute such further documents or
instruments as may be reasonably required by any other party, exercise its influence and do and perform or cause to be done or performed such further and other acts as may be reasonably necessary or desirable to effect the purpose of and to carry
out the provisions of this Agreement. 
  

	(j)	No Adverse Presumption 

This Agreement has been negotiated and approved by the parties and, notwithstanding any rule or maxim of law or construction to the
contrary, any ambiguity or uncertainty will not be construed against either of the parties by reason of the authorship of any of the provisions of this Agreement. 
  

	(k)	Enforcement 

 The
Indemnifier acknowledges and agrees that if the Landlord obtains a judgment for breach of Lease by the Tenant or the Indemnifier, the Landlord may encounter difficulties or obstacles in enforcing its judgment in various foreign jurisdictions where
the Indemnifier may have assets. As a result, if the Landlord seeks to enforce any final judgement properly granted by an Ontario court of competent jurisdiction which is not being appealed by the Tenant or the Indemnifier to a higher court, then
the Indemnifier hereby irrevocably (a) grants its consent to the registration or enforcement of said judgement in any jurisdiction, domestic or foreign, in which it is determined that the Indemnifier has or may have assets; and (b) agrees
that it shall not oppose or otherwise resist such registration or challenge the validity of the said judgement or the enforcement of same. This section may be pleaded as a complete estoppel to any actions which the Indemnifier may take in resisting
the enforcement of any such judgement against it. 
  

	(l)	Binding Effect 

 This
Agreement shall enure to the benefit of and shall be binding upon the parties and their respective heirs, executors, administrators, successors and assigns. For clarity, if the Landlord’s interest in the Lease or the Lands and the Building is
acquired by a third party (including, without limitation, a Mortgagee or a purchaser of the Lands and Building), then such third party shall be entitled to the benefit of this Agreement and may enforce this Agreement against the Indemnifier. If
requested by the Landlord or any such third party, the Indemnifier shall enter into an agreement directly with such third party confirming the right of the third party to the benefit of this Agreement and to enforce this Agreement against the
Indemnifier. 
 THIS AGREEMENT has been signed by the parties. 

  
 8 

									
	HOOPP REALTY INC.	 		 	SMART TECHNOLOGIES INC.
					
	Per:	 	  
	 		 	Per:	 	  

		 	Name:	 		 		 	Name:
		 	Title:	 		 		 	Title:
					
	Per:	 	  
	 		 	Per:	 	  

		 	Name:	 		 		 	Name:
		 	Title:	 		 		 	Title:
			
	I/WE have authority to bind the Corporation.	 		 	I/WE have authority to bind the Corporation.

  
 9 

 SCHEDULE “D” 

INSURANCE CERTIFICATE 
  

	TO:	HOOPP Realty Inc. (the “Landlord”) 

  

	RE:	Smart Technologies ULC (the “Insured”) - Lease made as of — (the “Lease”) between the Landlord and
the Insured for 3636 Research Road NW, Calgary, Alberta (the “Premises”) 

  

The undersigned hereby certifies, on behalf of and as agent for
                     (the “Insurer”), that: (a) the Insurer and the undersigned have received a copy of the Lease; (b) the
Insured has taken out the insurance required by section 6.2 of the Lease and such insurance complies with the requirements of section 6.2 of the Lease. The undersigned further certifies that it has the express right and authority to bind the Insurer
to the terms of this Insurance Certificate and confirms that the Landlord may rely upon this Certificate as being binding on the undersigned and the Insurer. 
  

					
	Dated	 	  
	 	

  

					
	  
	  	[Name of insurance broker],	  	

  

							
	as agent for	 	  
	  	[Name of Insurance Company]	  	

  

			
	Per:EX-4.3

 Exhibit 4.3 
 KELLOGG COMPANY 
 PRINGLES SAVINGS AND INVESTMENT PLAN 

(Effective June 1, 2012) 

 ARTICLE I 
 Establishment of the Plan 
 The Kellogg Company establishes the Kellogg
Company Pringles Savings and Investment Plan effective as of June 1, 2012. 
 The Plan is intended to be a qualified plan
and trust pursuant to Section 401(a) of the Code consisting of a profit sharing plan with employee deferrals under Section 401(k) of the Code as well as an employee stock ownership plan (“ESOP”) component pursuant to
Section 4975(e)(7) of the Code which is intended to be a stock bonus plan. The ESOP is intended to invest primarily in employer securities, within the meaning of Section 409(1) of the Code, and the ESOP and profit sharing plan portions of
this Plan are intended to constitute a single plan under Treasury Regulations Section 1.414(1)-1(b)(1). 

  
 2 

 ARTICLE II 
 Definitions 
 The following terms whenever used in the following
capitalized form shall have the meaning set forth below, unless the context clearly indicates otherwise: 
 2.1 Accounts
means the following separate Accounts consisting of the amounts described below (including contributions defined in Article IV of the Plan), plus income and gains and less expenses and losses attributable thereto, and reduced by any distributions
therefrom: 
 (a) An Employee Before-Tax Account consisting of Employee Before-Tax Contributions made pursuant to
Section 4.1 of the Plan and Special Section 401(k) Contributions made pursuant to Section 4.3 of the Plan. 
 (b) A Discretionary Employer Contribution Account consisting of amounts attributable to Discretionary Employer Contributions made pursuant to Section 4.2 of the Plan. 

(c) A Rollover Account consisting of Rollover Contributions as defined in Section 2.44 of the Plan. 

(d) A Transfer Account consisting of amounts transferred to the Plan in a direct plan-to-plan transfer in accordance
Section 4.7 of the Plan. 
 2.2 Accrued Benefit means a Participant’s total interest in the Trust reflected in
the value of his Accounts. The value of an Accrued Benefit at any time during any Plan Year shall be its value as adjusted on the coinciding or immediately preceding Valuation Date. 

2.3 Acquired Employee means an Employee who was hired by Employer on or after June 1, 2012 as a result of Employer’s
acquisition of Pringles Manufacturing Company from Procter & Gamble. The name of each Acquired Employee is set forth in Appendix B. 
 2.4 Active Participant generally means an Eligible Employee employed by an Employer; however, for purposes of Discretionary Employer Contributions and Special Section 401(k) Contributions, an
Active Participant is an Eligible Employee who has completed one (1) Eligibility Computation Period. 
 2.5
Administrative Committee means the administrative committee appointed pursuant to Section 8.1 to administer the Plan. 

2.6 Authorized Leave of Absence means any absence authorized by an Employer under the Employer’s standard personnel
practices. An absence due to service in the Armed Forces of the United States shall be considered an Authorized Leave of Absence provided that the Employee returns to employment with re-employment rights provided by law. 

  
 3 

 2.7 Beneficiary means any person designated by a Participant to receive death
benefits under the Plan in accordance with the provisions of Section 7.4. 
 2.8 Board of Directors means the board
of directors of Kellogg Company. 
 2.9 Break in Service means, for an Employee or Participant, the earlier of the
following severance from service dates: (a) the date on which he quits, is discharged, retires or dies, or (b) the first anniversary of the date he is absent for any other reason. 

2.10 Cash Dividends means cash dividends that are paid with respect to Company Stock, as defined in Section 13.2 of the Plan.

 2.11 Chairman of the Board means the chairman of the Board of Directors of Kellogg Company. 

2.12 Code means the Internal Revenue Code of 1986, as amended, and regulations issued thereunder. 

2.13 Company means Kellogg Company or any successor corporation by merger, consolidation, purchase or otherwise, which elects to
adopt the Plan and the Trust. 
 2.14 Company Stock means common stock issued by the Company (or by a corporation which
is a member of the same controlled group) which is readily tradable on an established securities market. 
 2.15 Compensation
means the amounts below: 
 (a) For purposes of Employee Before-Tax Contributions under Section 4.1, Compensation means
the total wages (as defined in Section 3401(a) of the Code for purposes of income tax withholding at the source but determined without regard to any rules that limit the remuneration included in wages based on the nature or location of the
employment or the services performed) paid to an Employee by an Employer for services rendered or while the Employee is on a paid Authorized Leave of Absence for the Plan Year, increased by any elective contributions that are made by the Employer on
behalf of the Employee that are not includible in income under Sections 125, 132(f)(4) or 402(g)(3) of the Code, and excluding reimbursements or other expense allowances, fringe benefits (cash and non-cash), moving expenses, income recognized on the
issuance or exercise of stock options, deferred compensation, welfare benefits, payments received under any long term disability plan following a determination of Disability and payments made as a result of severance from employment (including any
severance pay received under any other voluntary program consisting of severance options or an enhanced retirement option). For all Participants, bonuses shall be recognized as Compensation when paid. Compensation shall also include any payments
made for qualified military service (as that term is defined under Section 414(u) of the Code), including differential wage payments. Compensation shall not include any bonus paid after a Participant’s Termination of Employment.

 (b) For purposes of Discretionary Employer Contributions under Section 4.2, Compensation means the base salary or wage
paid on a straight time basis to a Participant for services rendered for the period of participation during the Plan Year, but 

  
 4 

 
exclusive of any bonus, premium pay, living or overtime allowance, night differential, credits or benefits under this or any other plan, severance pay, expenses, and other special emoluments. A
Participant’s base salary for any Plan Year shall be the base salary paid for services rendered for the payroll periods ending during such Plan Year. 
 (c) For purposes of determining the limitations under Articles V and XI and for determining whether a Participant is a Key Employee or Highly Compensated Employee, Compensation means total compensation
paid to an Employee by his or her Employer in the course of the Employer’s trade or business for which the Employer is required to furnish the Employee a written statement under Sections 6041(d), 6051 and 6052 of the Code (i.e., compensation as
shown on the Employee’s Form W-2), increased by elective contributions that are made by the Employer or a Related Company on behalf of the Employee that are not includible in income under Sections 125, 402(g)(3), or 132(f)(4) of the Code, and
excluding payments made following severance from employment. Notwithstanding the foregoing, any regular pay paid following severance from employment for services during the Employee’s regular working hours, any pay for services outside the
Employee’s regular working hours; such as for overtime or shift differential, commissions, bonuses or other similar payments, shall not be excluded from Compensation as long as the payments are made within the later of:
(i) 2 1/2 months after severance of employment, or (ii) the end of the Plan Year that includes the date of severance from employment. Compensation shall also include any payments made for qualified military
service (as that term is defined under Section 414(u) of the Code), including differential wage payments, as well as payments awarded by an administrative agency or court or pursuant to a bona fide agreement by the Employer to compensate an
Employee for lost wages, but only to the extent such payments represent wages and compensation that would otherwise be included in Compensation. 
 (d) The annual Compensation of each Employee taken into account under the Plan shall not exceed $250,000 for the 2012 Plan Year as adjusted by the Commissioner of the Internal Revenue Service for
increases in the cost of living in accordance with Section 401(a)(17)(B) of the Code. For the short Plan Year of June 1, 2012 through December 31, 2012, this limit shall be reduced on a pro rata basis. The limit shall be $145,833.32
(7/12 x $250,000). 
 2.16 Compensation Reduction Election means an election made in the proper form, completed in the
manner prescribed by the Administrative Committee (through paper, electronic or other means) which has been submitted by the Participant to the Administrative Committee as provided in Section 4.1. 

2.17 Disability means a Participant has been determined to be eligible for disability benefits under the Employer’s long-term
disability plan that covers the Participant. If the Participant is not covered by a long-term disability plan of an Employer, then he or she will be deemed to be suffering from a Disability only if he or she has been determined to be eligible for
disability insurance benefits from the Social Security Administration. 
 2.18 Early Retirement Date means the date on
which a Participant attains age 55 and has earned five (5) Years of Vesting Service. 

  
 5 

 2.19 Effective Date means, generally, June 1, 2012, which is the effective date
of the Plan. The term “Effective Date” may also be used to describe the date the Company permits a Related Company, union or other employee group to participate in the Plan. 

2.20 Eligibility Computation Period means the 12-month period commencing with the date an Employee performs his first Hour of
Service (or his first Hour of Service following a Break in Service) for an Employer (or other Related Company) and ending on the anniversary of the date the Employee performs his first Hour of Service (or his first Hour of Service following a Break
in Service) and each successive 12-month period. 
 Notwithstanding the foregoing, with respect to any Employee who is
classified as casual, seasonal, temporary or part time, “Eligibility Computation Period” means the 12-month period commencing on the date an Employee performs his first Hour of Service (or his first Hour of Service following a Break in
Service) for an Employer (or other Related Company) during which the Employee completes 1,000 Hours of Service, and if such an Employee does not complete 1,000 Hours of Service during such time period, the subsequent Plan Year during which such
Employee completes 1,000 Hours of Service. 
 For any Acquired Employee, Eligibility Computation Period means the 12-month
period commencing with the Employee’s most recent date of employment with Procter & Gamble. 
 2.21 Eligible
Employee 
 (a) Before-Tax Contributions. Each Employee who is an Acquired Employee or who is employed as a technician
at the Pringles Manufacturing Company’s Jackson, Tennessee plant is eligible to make Before-Tax Contributions after satisfying the service requirement set forth in Section 3.1. 

Notwithstanding the foregoing, the following individuals are not Eligible Employees for purposes of Before-Tax Contributions: 

(1) Non-resident aliens with no U.S.-source income; 

(2) Employees classified as a part-time merchandiser or stock shelver. This exclusion shall not apply to an Acquired
Employee until January 1, 2015; 
 (3) Individuals who are members of a unit of employees covered by a
collective bargaining agreement (unless the agreement requires inclusion of the Employees in the Plan); 
 (4)
Individuals classified as casual, seasonal or temporary Employees who are anticipated to work less than 1,000 Hours of Service in a Plan Year. This exclusion shall not apply to an Acquired Employee until January 1, 2015; 

(5) Individuals who are Leased Employees; and 

(6) Any individual who is an independent contractor. 

  
 6 

 (b) Discretionary Employer Contributions and Special 401(k) Contributions. Each
Employee who is an Acquired Employee or who is employed as a technician at the Pringles Manufacturing Company’s Jackson, Tennessee plant is eligible to receive Discretionary Employer Contributions and Special 401(k) Contributions after
satisfying the service requirement set forth in Section 3.2. 
 Notwithstanding the foregoing, the following individuals
are not Eligible Employees for purposes of Discretionary Employer Contributions and Special 401(k) Contributions: 
 (1) Non-resident aliens with no U.S.-source income; 
 (2) Employees
classified as a part-time merchandiser or stock shelver. This exclusion shall not apply to an Acquired Employee until January 1, 2015; 
 (3) Individuals who are members of a unit of employees covered by a collective bargaining agreement (unless the agreement requires inclusion of the Employees in the Plan); 

(4) Individuals classified as casual, seasonal or temporary Employees who are anticipated to work less than 1,000 Hours of
Service in a Plan Year. This exclusion shall not apply to an Acquired Employee until January 1, 2015; 
 (5)
Individuals who are Leased Employees; 
 (6) Any individual who is an independent contractor; and 

(7) Individuals employed as interns or working in a cooperative program through an educational institution. 

Notwithstanding the foregoing, any Employee who is classified as casual, seasonal, temporary or part time (unless specifically excluded
under a collective bargaining agreement) who completes 1,000 Hours of Service in an Eligibility Computation Period shall become an Eligible Employee for all purposes under the Plan, unless otherwise provided in an applicable collective bargaining
agreement which excludes from participation casual, seasonal or temporary employees. 
 2.22 Employee means any person
Employed by the Employer or a Related Company in an employment relationship in which the person performs services for the Employer or a Related Company as a common-law employee and is so treated under the Employer’s or a Related Company’s
payroll practices, including an individual who is on an Authorized Leave of Absence. The term “Employee” specifically excludes a person whom the Employer or a Related Company considers to be a “contract employee,” an
“independent contractor” or a Leased Employee even if the person is later reclassified as a common law employee by the Internal Revenue Service or a court of law, or is otherwise reclassified. 

2.23 Employer means the Company and any Related Company which elects to adopt the Plan. The Related Companies that have adopted
the Plan are set forth in Appendix A. 

  
 7 

 2.24 Employer Contributions means the following payments made from time to time by an
Employer to the Trustee: Employee Before-Tax Contributions made pursuant to Section 4.1, Discretionary Employer Contributions made pursuant to Section 4.2 and Special Section 401(k) Contributions made pursuant to Section 4.3.

 2.25 Entry Date means the first day of the first pay period beginning after the Employee has satisfied the
participation requirements described in Article III. 
 2.26 ERISA means the Employee Retirement Income Security Act of
1974, as amended from time to time, and any regulations issued thereunder. 
 2.27 Finance Committee means the finance
committee appointed pursuant to Section 8.1 to direct the investment of the assets of the Trust Fund. 
 2.28 Five Year
Break in Service means a period beginning on the date of the Participant’s Break in Service and ending on the fifth anniversary thereof, if the Participant is not reemployed by an Employer or Related Company during such period. Solely for
purposes of determining the Break in Service date of a Participant who is absent from service by reason of a maternity or paternity absence described in Code Section 410(a)(5)(E)(i) or 411(a)(6)(E)(i), the Break in Service date shall be deemed
to be the second anniversary of the date the absence began. The period between the first and second anniversaries of the absence shall be neither a period of service nor a period of severance. 

2.29 Forfeiture means the portion of a Participant’s Accrued Benefit which is forfeited as provided in Section 4.2(g) or
Section 12.5. 
 2.30 Highly Compensated Employee means 

(a) Any individual who performs services as an Employee for an Employer or a Related Company during the preceding Plan Year and who at any
time during the preceding Plan Year (1) had Compensation from the Company in excess of $115,000 (as adjusted pursuant to Section 415(d) of the Code) and (2) was in the top-paid group of Employees for such preceding Plan Year. An
Employee is in the top-paid group of Employees for any Plan Year if such Employee is in the group consisting of the top 20% of Employees when ranked on the basis of Compensation paid during such Plan Year; or 

(b) Any individual who during the Plan Year or the preceding Plan Year is more than a 5% owner (or is considered as owning more than 5%
within the meaning of Section 416(i)(1) of the Code) of the Employer or a Related Company. 
 A former Employee shall also
be treated as a Highly Compensated Employee for a Plan Year if such former Employee had a Termination of Employment prior to such Plan Year and was a Highly Compensated Employee (within the meaning of Subsections (a) and (b) above) for
either the Plan Year in which he had a Termination of Employment or any Plan Year ending on or after his 55th birthday. The determination of Highly Compensated Employees for a Plan Year shall be made in accordance with Section 414(q) of the
Code and applicable Treasury Regulations, including any exclusion for nonresident aliens. 

  
 8 

 For the Plan Year ending December 31, 2013, the Compensation portion of this
determination shall be made based upon the Employee’s Compensation during the 12-month period ending December 31, 2012. 
 2.31 Hour of Service means, solely for purposes of determining an Employee’s initial Eligibility Computation Period: 
 (a) Each hour for which an Employee is directly or indirectly paid, or entitled to payment, by an Employer or a Related Company for the performance of duties. 

(b) Each hour (up to a maximum of 501 hours during a single continuous period) for which the Employee is paid or entitled to payment by
the Employer or a Related Company for a period of time during which no duties were performed due to vacation, holiday, illness, incapacity (including Disability), layoff, jury duty, military duty or parental leave; but not for payments made or due
under a plan maintained solely for the purpose of complying with applicable workers’ compensation, unemployment compensation or disability insurance laws, or for reimbursement of medical expenses. These hours shall be credited to the Employee
under the computation period under which the duties would have been performed. Hours under this paragraph shall be calculated and credited pursuant to the provisions of Department of Labor Regulations Section 2530.200b-2, which is incorporated
into the Plan by reference; or 
 (c) Each hour (up to a maximum of 501 hours during a single continuous period) for which back
pay, irrespective of mitigation of damages, is awarded or agreed to by the Employer or Related Company; provided that Hours of Service credited under (a) and (b) shall not be credited under (c). 

(d) Notwithstanding the foregoing, the Plan will be administered in accordance with the Family and Medical Leave Act of 1993, the
Uniformed Services Employment and Reemployment Rights Act of 1994 and the Heroes Earnings Assistance and Relief Tax Act of 2008. For a Participant who dies or becomes disabled while performing qualified military service (as that term is defined
under Section 414(u) of the Code), the Plan will credit Hours of Service on reasonably equivalent terms to all Participants performing such qualified military service as provided under Section 414(u)(9) of the Code. 

Notwithstanding the foregoing, for all other purposes under the Plan, service shall be determined on an elapsed time basis. For this
purpose, “elapsed time” means the twelve-consecutive-month period commencing with the date an Employee is employed (or re-employed following a Break in Service) by an Employer and succeeding twelve-consecutive month periods beginning on
the anniversaries of the date of employment (or re-employment following a Break in Service). 
 2.32 Kellogg Benefit Center
means the third party administrative delegate of the Plan Administrator charged with effectuating certain Participant elections, requests and other administrative tasks under the Plan through internet based and phone communications, or other
methods as the Administrative Committee may prescribe. 

  
 9 

 2.33 Leased Employee means any person within the meaning of Section 414(n) of
the Code who is not an Employee of the Company (or a Related Company) and who: (a) performed services pursuant to an agreement between the Company (or a Related Company) and any leasing organization, (b) performed services on a
substantially full-time basis for a period of at least one (1) year, and (c) such services are performed under primary direction or control of the Company (or a Related Company). Notwithstanding the foregoing, any such person shall not be
deemed to be a Leased Employee if such person is covered by a plan maintained by the leasing organization and leased employees (as determined without regard to this paragraph) do not comprise more than 20% of the Company’s (or Related
Company’s) non-highly compensated workforce. Such plan must be a money purchase pension plan providing for nonintegrated employer contributions of 10% of Compensation (as defined under Section 2.15(c)) and also providing for immediate
participation and vesting. 
 2.34 Normal Retirement Date means the date on which a Participant attains age 65.

 2.35 Participant means an Eligible Employee participating in the Plan as provided in Article III. 

2.36 Plan means the Kellogg Company Pringles Savings and Investment Plan as herein set forth, and as hereafter from time to time
amended. 
 2.37 Plan Administrator means the persons or entity (such as the Administrative Committee or Finance
Committee) responsible for the general administration of the Plan and supervision of the Trust. The Plan Administrator shall be appointed by and serve at the pleasure of the Board of Directors. The Plan Administrator can appoint delegates for its
powers under Article VIII of the Plan. 
 2.38 Plan Credit Year of Service means a year of service for purposes of
allocating a Participant’s Discretionary Employer Contribution for a Plan Year. A Participant’s Plan Credit Years of Service will be the sum of: 
 (a) The number of full plan credit years earned by the Participant under the Procter & Gamble Plan as of May 31, 2012, if any, as set forth in Appendix B; and 

(b) The number of full Plan Years in which the Participant completes at least one Hour of Service, starting with the first Plan Year that
begins on January 1, 2013 or after the Participant has completed an Eligibility Computation Period, if later. 
 The maximum number of Plan
Credit Years of Service a Participant can earn is 20. 
 2.39 Plan Year means the twelve-month period beginning on each
January 1, and ending on the next succeeding December 31. However, there shall be a short initial plan year from June 1, 2012 through December 31, 2012. 
 2.40 Procter & Gamble means The Procter & Gamble Company and any employer related to The Procter & Gamble Company within the meaning of Sections 414(b) and (c) of
the Code. 

  
 10 

 2.41 Procter & Gamble Plan means The Procter & Gamble Profit
Sharing Trust and Employee Stock Ownership Plan. 
 2.42 Related Company means a corporation, trade, or business if it
and an Employer are members of a controlled group of corporations as defined in Section 414(b) of the Code or under common control as defined in Section 414(c) of the Code or members of an affiliated service group as defined in
Section 414(m) of the Code or members of a group the members of which are required to be aggregated pursuant to regulations under Section 414(o) of the Code; provided, however, for purposes of Sections 2.43 and 5.3(c), the standard of
control for determining a Related Company under Sections 414(b) and 414(c) of the Code (and thus also Related Plans) shall be deemed to be more than 50%, rather than “at least 80%.” 

2.43 Related Plan means any other defined contribution plan or any defined benefit plan (as defined in Section 415(k) of the
Code) maintained by an Employer or a Related Company, respectively called a “Related Defined Contribution Plan” and “Related Defined Benefit Plan.” 
 2.44 Required Beginning Date means for any Participant who is not a 5% owner of the Employer the April 1 of the calendar year following the later of: (i) the calendar year in which the
Participant attains age 70-1/2, or (ii) the calendar year in which the Participant actually retires; however, for any Participant who is a 5% owner of the Employer, the April 1 of the calendar year following the calendar year in which the
5% owner Participant attains age 70-1/2. 
 2.45 Retirement means a Participant’s Termination of Employment after
his Early Retirement Date or Normal Retirement Date. 
 2.46 Rollover Contribution means a rollover contribution made in
accordance with Section 4.4 of the Plan. 
 2.47 Termination of Employment occurs when a person leaves the employ of
an Employer or Related Company or fails to return to work at the termination of an Authorized Leave of Absence. Transfers of employment from an Employer or Related Company to employment by another Employer or Related Company shall not constitute a
Termination of Employment. A Participant receiving severance payments shall be deemed to have a Termination of Employment upon the receipt of all severance payments. 
 2.48 Transfer Account means the bookkeeping account established to record amounts transferred to the Plan on behalf of a Participant from another defined contribution plan maintained by Employer or
a Related Company pursuant to Section 4.7. A Participant’s Transfer Account may consist of a number of sub-accounts for each type of contribution made for the Participant under the transferring plan. 

2.49 Trust means the trust(s) established and maintained for the purposes of the Plan, which is administered by the applicable
Trustee in accordance with the provisions of the applicable Trust Agreement. 

  
 11 

 2.50 Trust Agreement means the agreement between the Company and the Trustee
establishing the Kellogg Company Pringles Savings and Investment Trust. 
 2.51 Trust Fund means any property, real or
personal, received by the applicable Trustee, plus all income and gains and less losses, expenses and distributions chargeable thereto. 
 2.52 Trustee means the corporation, bank, trust company, individual or individuals who accept appointment as trustee to execute the duties of the Trustee set forth in the applicable Trust
Agreement. 
 2.53 Valuation Date means the end of any business day of the calendar year. For the purposes of this Plan
the end of each business day shall be 4:00 p.m. Eastern Time (“ET”) or such earlier time that the New York Stock Exchange (“NYSE”) closes on a business day. 

2.54 Years of Vesting Service 
 (a) General Rule. Years of Vesting Service means the period beginning on the date the Participant first performs an Hour of Service and ending on the date the Participant has a Break in Service,
subject to the following: 
 (1) If a Participant recommences employment with an Employer or Related Company on
or before the twelve month anniversary of the Participant’s Break in Service, the entire period of absence shall be credited as a period of service in computing total Years of Vesting Service. 

(2) If a Participant recommences employment with an Employer or Related Company after the twelve month anniversary of the
Break in Service, but before incurring a Five Year Break in Service, the Participant’s prior Years of Vesting Service shall be restored, but the Participant shall not receive service credit for the period of absence. 

(3) If a Participant recommences employment with an Employer or Related Company after incurring a Five Year Break in
Service, the Participant’s prior Years of Vesting Service shall only be restored if the Participant had a vested interest in his or her Plan benefits attributable to Employer contributions prior to the Break in Service. 

(b) Special Rule for Acquired Employees. For any Participant who is an Acquired Employee, Years of Vesting Service means the period
beginning on the date of the Participant’s most recent date of employment with Procter & Gamble and ending on the date the Participant has a Break in Service, subject to the following: 

(1) If a Participant recommences employment with an Employer or Related Company on or before the twelve month anniversary
of the Participant’s Break in Service, the entire period of absence shall be credited as a period of service in computing total Years of Vesting Service. 

  
 12 

 (2) If a Participant recommences employment with an Employer or Related
Company after the twelve month anniversary of the Break in Service, but before incurring a Five Year Break in Service, the Participant’s prior Years of Vesting Service shall be restored, but the Participant shall not receive service credit for
the period of absence. 
 (3) If a Participant recommences employment with an Employer or Related Company after
incurring a Five Year Break in Service, the Participant’s prior Years of Vesting Service shall only be restored if the Participant had a vested interest in his or her Plan benefits attributable to Employer contributions prior to the Break in
Service. 

  
 13 

 ARTICLE III 
 Participation 
 3.1 Participation for Purposes of Before-Tax
Contributions. 
 (a) General Rule. Each Eligible Employee shall become a Participant in the Plan for purposes of
making Before-Tax Contributions on the first Entry Date coinciding with or next following the date he completes an Hour of Service as an Eligible Employee. 
 An Employee who transfers from a job classification with Employer or a Related Company that is not eligible to participate in the Plan to a job classification that is eligible to participate in the Plan
shall become a Participant for purposes of making Before-Tax Contributions on the first Entry Date coinciding with or next following the date he completes an Hour of Service as an Eligible Employee. 

(b) Special Rule for Casual, Temporary, Seasonal and Part-Time Employees. Each Eligible Employee who is classified as a casual,
temporary, seasonal or part-time Employee shall become a Participant for purposes of making Before-Tax Contributions on the later of: 
 (1) The first Entry Date coinciding with or next following the date he completes an Eligibility Computation Period; or 

(2) The first Entry Date coinciding with or next following the date the Employee completes an Hour of Service as an
Eligible Employee. 
 3.2 Participation for Purposes of Discretionary Employer Contributions and Special 401(k)
Contributions. 
 Each Eligible Employee shall become a Participant for purposes of Discretionary Employer Contributions and
Special 401(k) Contributions on the first Entry Date coinciding with or next following the date he completes an Eligibility Computation Period. 
 An Employee who transfers to a job classification that is eligible to participate in the Plan for purposes of Discretionary Employer Contributions shall become a Participant for purposes of Discretionary
Employer Contributions on the later of: 
 (a) The first Entry Date coinciding with or next following the date he
completes an Eligibility Computation Period; or 
 (b) The first Entry Date coinciding with or next following the date the
Employee completes an Hour of Service as an Eligible Employee. 
 3.3 Participation Upon Re-Employment. 

(a) Before-Tax Contributions. An Employee who (1) has a Termination of Employment, (2) was a Participant for purposes of
making Before-Tax Contributions immediately before such Termination of Employment, and (3) thereafter becomes an 

  
 14 

 
Eligible Employee shall again become a Participant for purposes of making Before Tax Contributions immediately upon again becoming an Eligible Employee, provided that the Employee’s
Compensation Reduction Election shall not become effective prior to the Entry Date coinciding with or next following the date he again becomes a Participant. 
 (b) Discretionary Employer Contributions and Special 401(k) Contributions. An Employee who (1) has a Termination of Employment, (2) was a Participant for purposes of Discretionary
Employer Contributions and Special 401(k) Contributions immediately before such Termination of Employment, and (3) thereafter becomes an Eligible Employee for purposes of Discretionary Employer Contributions and Special 401(k) Contributions
shall again become a Participant for purposes of Discretionary Employer Contributions and Special 401(k) Contributions immediately upon again becoming an Eligible Employee. 
 An Employee who (1) has a Termination of Employment, (2) was not previously a Participant in the Plan for purposes of Discretionary Employer Contributions and Special 401(k) Contributions, and
(3) thereafter becomes an Eligible Employee for purposes of Discretionary Employer Contributions and Special 401(k) Contributions shall be eligible to have Discretionary Employer Contributions or Special Section 401(k) Contributions
contributed to the Plan on his behalf upon the first Entry Date coinciding with or next following the date he completes an Eligibility Computation Period. 
 3.4 Transfer to Ineligible Position. 
 If an Employee transfers to a job
classification with an Employer or Related Company that is not eligible for participation in the Plan, the Employee shall not be eligible to make or receive any additional contributions under the Plan for periods after such transfer date.

 If the Employee transfers to a job classification with an Employer or a Related Company that is eligible for participation in
a Related Defined Contribution Plan, the Employee’s Accrued Benefit shall be transferred to that Related Defined Contribution Plan. Any such transfer shall comply with the requirements of Section 411(d)(6) of the Code. If the Employee is
not eligible to participate in a Related Defined Contribution Plan, the Employee shall remain a Participant under the Plan until his entire Accrued Benefit is distributed under the terms of the Plan. 

  
 15 

 ARTICLE IV 
 Contributions 
 4.1 Employee Before-Tax Contributions. 

(a) Before-Tax Contributions. Each Active Participant shall have his or her Compensation reduced for each payroll period by
specifying in a Compensation Reduction Election the amount his or her Compensation is to be reduced. The Compensation Reduction Election shall be filed with the Administrative Committee in the manner prescribed in Section 4.5, or in any manner
approved by the Administrative Committee. Each Employer shall contribute to the Trust, as an Employee Before-Tax Contribution on behalf of each Active Participant employed by the Employer, the amount by which such Participant’s Compensation has
been reduced by the Participant’s Compensation Reduction Election in accordance with this subsection (a). 
 A
Participant’s Compensation Reduction Election will equal a minimum of 1% up to a maximum of 50% of his or her Compensation (in increments of 1%) in accordance with such rules as the Administrative Committee, in its discretion, specifies from
time to time. 
 (b) Catch-Up Contributions. Each Participant who is eligible to make Employee Before-Tax Contributions
and who has attained age 50 before the close of the Plan Year shall be eligible to make Catch-Up Contributions in accordance with, and subject to the limitations of, Section 414(v) of the Code and the Treasury Regulations thereunder. Such
Catch-Up Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of Sections 402(g) and 415 of the Code. The Plan shall not be treated as failing to satisfy the provisions of the
Plan implementing the requirements of Sections 401(k)(3), 401(k)(11), 401(k)(12), 410(b) or 416 of the Code, as applicable, by reason of the making of such Catch-Up Contributions. 

(c) Deadline for Employee Before-Tax Contributions. Each Employer will contribute the Employee Before-Tax Contributions for each
payroll period during a Plan Year to the Trustee as soon as reasonably practicable after the Participant’s Compensation has been reduced for that payroll period, but in no event later than the fifteenth business day of the calendar month
following the calendar month in which the Participant would have received the Employee Before-Tax Contribution, had he not elected to have his Compensation reduced for the payroll period. 

(d) Dollar Limitations on Employee Before-Tax Contributions. No Participant shall be permitted to have Employee Before­Tax
Contributions made under the Plan during any calendar year in excess of the dollar limitations contained in Section 402(g) of the Code, reduced by the Participant’s elective deferrals for such year under any other salary reduction
arrangement under Sections 401(k) or 403(b) of the Code, except to the extent permitted under this Section 4.1(d) of the Plan and Section 414(v) of the Code, if applicable. Any Employee Before-Tax Contributions made by the Company on
behalf of a Participant in excess of the Code Section 402(g) limit in effect for the applicable calendar year shall be returned to the Participant (adjusted for earnings and losses through the end of the Plan Year) no later than the
April 15 following the close of the calendar year to which such excess relates. 

  
 16 

 To the extent a Participant has Employee Before-Tax Contributions under this Plan during a
calendar year plus elective deferrals under another qualified cash or deferred arrangement during that same calendar year that in the aggregate exceed the dollar limitation in Section 402(g) of the Code, such Participant may designate no later
than the following March 1 that the excess is attributable to this Plan and request a distribution of such excess (adjusted for earnings and losses through the end of the Plan Year), which shall be made no later than April 15 following the
close of the calendar year to which the such excess applies. 
 (e) Allocation of Employee Before-Tax Contributions. As of
each Valuation Date, Employee Before-Tax Contributions made to the Plan since the immediately preceding Valuation Date will be allocated to the Employee Before-Tax Account of each Active Participant on whose behalf they were made. 

4.2 Discretionary Employer Contributions. 
 (a) Amount of Contribution. For each Plan Year, each Employer may make a Discretionary Contribution to the Plan. Each Employer shall determine the amount of any Discretionary Contribution. No
Discretionary Contribution is required. 
 (b) Eligibility to Share in Allocation. Employer’s Discretionary
Contribution for the Plan Year shall be allocated to each Participant who: 
 (1) Is employed by Employer on the
last day of the Plan Year; 
 (2) Has a Termination of Employment during the Plan Year with a vested interest in
his Discretionary Employer Contribution Account; 
 (3) Has a Termination of Employment during the Plan Year
after attaining his or her Early Retirement Date or Normal Retirement Date; or 
 (4) Has a Termination of
Employment during the Plan Year as a result of the Participant’s Disability or death. 
 A Participant who is on an
Approved Leave of Absence, is performing qualified military service (as that term is defined under Section 414(u) of the Code), is a full-time employee on a layoff for lack of work or who transfers to a job position that is ineligible for
participation in the Plan during a Plan Year shall not be considered to have a Termination of Employment for purposes of this subsection. However, only the Participant’s Compensation (as defined in Section 2.15(b)) while in a job position
that is eligible for participation in the Plan shall be used in calculating his allocation of the Discretionary Employer Contribution for the Plan Year. 
 (c) Allocation Procedure. The amount of the Discretionary Employer Contribution allocated to an eligible Participant shall be a percentage of the Participant’s Compensation (as defined in
Section 2.15(b)), determined according to the chart set forth in subsection (d) below, based on the number of whole Plan Credit Years the Participant has earned as of the last day of the Plan Year and the Plan Credit Year factor that
applies to the Participant, subject to the limitations of Section 5.2. 

  
 17 

 However, for the short Plan Year of June 1, 2012 through December 31, 2012, the
amount of the Discretionary Employer Contribution allocated to an eligible Participant shall be based on the number of whole Plan Credit Years of Service the Participant has earned as of the last day of the Plan Year plus the number of whole months
of service the Participant completed during the short Plan Year of June 1, 2012 through December 31, 2012. 
 (d)
Allocation of Discretionary Employer Contributions. As of the last day of each Plan Year, Discretionary Employer Contributions made to the Plan for the Plan Year shall be allocated to the Discretionary Employer Contribution Account of each
eligible Participant on whose behalf a contribution was made. 
  

											
	9% Average Program	 	12.5% Average Program	 	15% Average Program
	 Plan Credit Year Factor =

.348%
	 	Plan Credit Year Factor =
0.614%	 	Plan Credit Year Factor =
0.812%
	 Plan

Credit

Years
	  	% of Base Pay
received as Credit	 	Plan
Credit
Years	  	% of Base Pay
received as Credit	 	Plan
Credit
Years	  	% of Base Pay
received as Credit
	 0
	  	5.000%	 	0	  	5.000%	 	0	  	5.000%
	 1
	  	5.348%	 	1	  	5.614%	 	1	  	5.812%
	 2
	  	5.696%	 	2	  	6.228%	 	2	  	6.624%
	 3
	  	6.044%	 	3	  	6.842%	 	3	  	7.436%
	 4
	  	6.392%	 	4	  	7.456%	 	4	  	8.248%
	 5
	  	6.740%	 	5	  	8.070%	 	5	  	9.060%
	 6
	  	7.088%	 	6	  	8.684%	 	6	  	9.872%
	 7
	  	7.436%	 	7	  	9.298%	 	7	  	10.684%
	 8
	  	7.784%	 	8	  	9.912%	 	8	  	11.496%
	 9
	  	8.132%	 	9	  	10.526%	 	9	  	12.308%
	 10
	  	8.480%	 	10	  	11.140%	 	10	  	13.120%
	 11
	  	8.828%	 	11	  	11.754%	 	11	  	13.932%
	 12
	  	9.176%	 	12	  	12.368%	 	12	  	14.744%
	 13
	  	9.524%	 	13	  	12.982%	 	13	  	15.556%
	 14
	  	9.872%	 	14	  	13.596%	 	14	  	16.368%
	 15
	  	10.220%	 	15	  	14.210%	 	15	  	17.180%
	 16
	  	10.568%	 	16	  	14.824%	 	16	  	17.992%
	 17
	  	10.916%	 	17	  	15.438%	 	17	  	18.804%
	 18
	  	11.264%	 	18	  	16.052%	 	18	  	19.616%
	 19
	  	11.612%	 	19	  	16.666%	 	19	  	20.428%
	 20+
	  	11.960%	 	20+	  	17.280%	 	20+	  	21.240%

  
 18 

 For the short Plan Year of June 1, 2012 through December 31, 2012, a Participant
will have a fractional number of Plan Credit Years. For the short 2012 Plan Year only, a Participant’s Plan Credit Year factor will be interpolated to reflect the fractional number of Plan Credit Years. For example, an eligible Participant
under the 12.5% Average Program with 18 Plan Credit Years and 7 full months of additional service as of December 31, 2012 would have a Plan Year Credit Factor of 16.410% (16. 666% – 16.052% = .614%; .614% x 7/12 = .358%; 16.052% + .358% =
16.41%). 
 (e) Applicable Program/Plan Year Credit Factor. The Program/Plan Year Credit factor that applies to a
Participant is determined as follows: 
 (1) The 9% Average Program/Plan Year Credit Factor applies to
Participants who: 
 (A) Performed their first Hour of Service on or after June 1, 2012 and who are
not Acquired Employees; or 
 (B) Are Acquired Employees who were under the 9% Average Program under the
Procter & Gamble Plan as of May 31, 2012. Appendix B sets forth the name of each Acquired Employee to whom the 9% Average Program applies. 
 (2) The 12.5% Average Program/Plan Year Credit Factor applies to Acquired Employees who were under the 12% Average Program under the Procter & Gamble Plan as of May 31, 2012. Appendix
B sets forth the name of each Acquired Employee to whom the 12% Average Program applies. 
 (3) The
Grandfathered 15% Average Program Plan Year Credit Factor applies to Acquired Employees who were under the 15% Average Program under the Procter & Gamble Plan as of May 31, 2012. Appendix B sets forth the name of each Acquired
Employee to whom the 15% Average Program applies. 

  
 19 

 (f) Forfeiture and Restoration of Discretionary Employer Contribution Accounts.

 (1) If a Participant has a Termination of Employment prior to vesting in his or her Discretionary Employer
Contribution Account, the Participant’s Discretionary Employer Contribution Account will be forfeited as soon as administratively practicable after the Participant’s Termination of Employment. 

(2) If a Participant’s Discretionary Employer Contribution Account is forfeited under paragraph (1) above, and
the Participant is later rehired by an Employer or Related Company before incurring a Five Year Break in Service, the Participant’s Discretionary Employer Contribution Account shall be restored (without adjustment for earnings and losses
occurring after the forfeiture date and prior to restoration). If the Participant is rehired by an Employer or Related Company after incurring a Five Year Break in Service, such rehire shall have no effect on the forfeited Discretionary Employer
Contribution Account, which shall remain permanently forfeited. 
 (3) Any Forfeitures under this subsection
shall first be used to restore any prior Forfeitures under paragraph (2) above, then used to either reduce the amount of future Discretionary Employer Contributions for the Plan Year in which the Forfeiture occurred or to pay administrative
expenses of the Plan. 
 (4) If a Participant’s Discretionary Employer Contribution Account is forfeited
under paragraph (1) above, and the Participant is later rehired by an Employer or Related Company before incurring a Five Year Break in Service in a job classification that is not eligible for participation in the Plan, but is eligible for
participation in a Related Defined Contribution Plan, the restoration of any prior Forfeitures required under paragraph (2) above shall occur before the Participant’s Accrued Benefit is transferred to the Related Defined Contribution Plan
under Section 3.4. 
 4.3 Special Section 401(k) Contributions. 

(a) Special Section 401(k) Contributions. For each Plan Year, the Company may, on or before the due date (including
extensions) for filing the Company’s federal income tax return for the tax year during which the last day of such Plan Year occurs, elect to have the Company and the other Employers make a Special Section 401(k) Contribution to the Trust
in such amount (if any) as the Board of Directors may determine. In any Plan Year in which the Company elects to have such a Special Section 401(k) Contribution made, each Employer shall contribute a fractional portion of the Special
Section 401(k) Contribution in an amount equal to the total Special Section 401(k) Contribution multiplied by a fraction, the numerator of which is the total Compensation for the Plan Year paid to Active Participants by such Employer and
the denominator of which is the total Compensation for the Plan Year paid to Active Participants by the Employer and all other Employers. 

  
 20 

 (b) Deadline for Special Section 401(k) Contributions. Special
Section 401(k) Contributions for each Plan Year shall be delivered to the Trustee on or before such date as the Administrative Committee shall specify, but not later than the due date for the filing of the federal income tax return (including
extensions) of the Employer for the tax year during which the last day of such Plan Year occurs. 
 (c) Allocation of Special
Section 401(k) Contributions. As of the last day of each Plan Year, Special Section 401(k) Contributions made to the Plan for the Plan Year shall be allocated to the Employee Before-Tax Account of each Active Participant in the ratio
that each Active Participant’s Compensation for the Plan Year bears to the total Compensation of all Active Participants for the Plan Year. 
 4.4 Rollover Contributions. With the consent of the Administrative Committee, the Trustee may accept the following: 
 (a) A direct rollover of an eligible rollover distribution from a qualified plan described in Sections 401(a) or 403(a) of the Code; an annuity contract described in Section 403(b) of the Code; and
an eligible plan under Section 457(b) of the Code which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state. 

(b) A Participant contribution of an eligible rollover from a qualified plan described in Sections 401(a) or 403(a) of the Code; an
annuity contract described in Section 403(b) of the Code; and an eligible plan under Section 457(b) of the Code which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political
subdivision of a state. 
 (c) A Participant rollover contribution of the portion of a distribution from an individual retirement
account or annuity described in Section 408(a) or 408(b) of the Code that is eligible to be rolled over and would otherwise be includible in gross income. 
 Notwithstanding the foregoing, the Plan shall not accept rollovers of after-tax contributions or “Roth”-style contributions. 

Participants’ rollover contributions shall be invested as part of the Trust. A Participant’s rollover contribution, and
earnings and losses attributable to it, shall be held in a separate Rollover Account for the benefit of the Participant. The interest of a Participant in his Rollover Account shall be fully vested at all times. 

4.5 Process for Adjusting Employee Before-Tax Contributions. A Participant may make, change or revoke a Compensation Reduction
Election at any time by contacting the Kellogg Benefit Center. Once a Participant makes, changes, or revokes an election, the election will be communicated to payroll and the reduction, change, or revocation will become effective within one to two
pay periods, depending upon the date the request was communicated to the Kellogg Benefit Center during the payroll cycle. Any new election, change or revocation shall apply only to Compensation paid after the effective date of the election. Any
election by the Participant shall continue in effect, notwithstanding any changes in Compensation, until the Participant changes or revokes the election or until he or she shall cease to be a Plan Participant. 

  
 21 

 4.6 Determination and Amount of Employer Contributions. The Administrative Committee
shall determine and shall certify to the Trustee the amount of any contribution to be made by each Employer hereunder. In making such determination, the Administrative Committee shall be entitled to rely upon the estimates of Compensation made by
the chief accounting officer of the Employer. Such determination shall be binding on all Participants, the Trustee, and the Employer. Under no circumstances shall any Participant or Beneficiary have any right to examine the books and records of any
Employer. 
 4.7 Transfers to Plan from a Related Defined Contribution Plan. If a participant in a Related Defined
Contribution Plan becomes an Eligible Employee, his entire benefit in that Related Defined Contribution Plan shall be transferred to the Plan in a direct plan-to-plan transfer. Any such transfer shall comply with the requirements of
Section 411(d)(6) of the Code. The transferred amounts shall be credited to the Participant’s Transfer Account. 

4.8 Vesting. 
 (a) Employee Before-Tax Contributions and Special 401(k) Contributions. Subject to Sections 4.1(d) and 5.1, Employee Before-Tax Contributions and Special Section 401(k) Contributions shall be
fully vested and non­forfeitable. 
 (b) Discretionary Employer Contributions. Each Participant who is an Acquired
Employee shall be fully vested in amounts credited to his Discretionary Employer Contribution Account. Each other Participant shall be fully vested in amounts credited to his Discretionary Employer Contribution Account on the earlier of
(1) completion of three (3) Years of Vesting Service, (2) attainment of age 65, (3) the Participant’s Disability; or (4) the Participant’s death. 

A Participant shall also have a fully vested interest in any Cash Dividends that are paid or credited to his or her Discretionary
Employer Contribution Account as a result of investment in Company Stock. 
 (c) Transferred Amounts. The amounts credited
to a Participant’s Transfer Account, and each sub-account within the Participant’s Transfer Account, shall be subject to the vesting schedule that applied to the transferred amount(s) under the Related Defined Contribution Plan from which
the transfer was made. 
 A Participant shall have a fully vested interest in any Cash Dividends that are paid or credited to
the fully-vested portion of the Participant’s Transfer Account as a result of investment in Company Stock. 
 4.9
Military Service. Notwithstanding any provision of this Plan to the contrary, contributions, benefits and service credit with respect to qualified military service will be provided in accordance with Section 414(u) of the Code, including
any additional benefits pursuant to Section 7.4 of the Plan due to the death of a Participant while performing qualified military service, as defined in Section 414(u) of the Code. 

  
 22 

 ARTICLE V 
 Limitations on Contributions 
 5.1 Limitations on Annual Employee
Contributions—Average Deferral Percentage Test. Employee Before-Tax Contributions shall not exceed the amounts permitted under the nondiscrimination rules of Section 401(k) of the Code and Treasury Regulations issued thereunder (the
“ADP Test”). 
 (a) The Plan shall utilize the current year testing method for purposes of the ADP Test, as described
in this paragraph (a). Each Plan Year, the Actual Deferral Percentage (as defined in subsection (b) below) of eligible Highly Compensated Employees shall not exceed the greater of: 

(1) The Actual Deferral Percentage of all other Active 

Participants, multiplied by 1.25; or 
 (2) The lesser of the Actual Deferral Percentage of all other Active Participants multiplied by 2 or the Actual Deferral Percentage of all other Active Participants plus two percentage points. 

(b) The Actual Deferral Percentage for a group of Employees is the average of the ratios, calculated separately for each Employee in the
group, of the sum of Employee Before-Tax Contributions that are credited under the Plan on behalf of each Employee for the Plan Year (as determined under Treasury Regulations 1.401(k)-2(a)(4) and (5)), divided by the Employee’s Compensation (as
defined in Section 2.15(c)) for the Plan Year computing the Average Deferral Percentage for a Plan Year to the extent such contributions satisfy Treasury Regulation 1.401(k)-2 and the Administrative Committee deems the inclusion of such
contributions appropriate. As described in subsection (a) above, the Actual Deferral Percentage of the Highly Compensated Employees shall be compared to the Actual Deferral Percentage of all other Active Participants. 

(c) If the Company maintains more than one plan qualified under Section 401(a) of the Code, and if the plans are aggregated for
purposes of satisfying the coverage or anti-discrimination requirements of Section 401(a)(4) or 410(b)(1)(A) or (B) of the Code, all qualified cash or deferred arrangements contained in such plans shall be aggregated for purposes of
performing the anti-discrimination test for Employee Before­Tax Contributions. If a Highly Compensated Employee participates in more than one plan of the Company, all Employee Before-Tax Contributions made by the Highly Compensated Employee
under all such plans shall be aggregated for purposes of performing the ADP Test. 
 (d) Excess Contributions. For
purposes of this Section 5.1, excess contributions for a Highly Compensated Employee for a Plan Year are the amount (if any) by which the Employee Before-Tax Contributions must be reduced for the Employee’s Actual Deferral Ratio to equal
the highest permitted Actual Deferral Ratio under the Plan. To calculate the highest permitted Actual Deferral Ratio under the Plan, the Actual Deferral Ratio of the Highly Compensated Employee with the highest Actual Deferral Ratio is reduced by
the amount required to cause the Employee’s Actual Deferral Ratio to equal the 

  
 23 

 
Actual Deferral Ratio of the Highly Compensated Employee with the next highest Actual Deferral Ratio. If a lesser reduction would enable the Plan to satisfy the ADP Test, only this lesser
reduction may be made. This process must be repeated until the Plan satisfies the ADP Test. In no case may the amount of excess contributions with respect to any Highly Compensated Employee exceed the amount of Employee Before-Tax Contributions made
on behalf of the Highly Compensated Employee for the Plan Year. The term “Actual Deferral Ratio” shall be defined in accordance with Section 401(k)(3) of the Code and Treasury Regulation 1.401(k)-2(a)(3). 

(e) Income Allocable to Excess Contributions. For purposes of this Section 5.1, the income allocable to the excess
contributions is equal to the sum of the allocable gain or loss for the Plan Year. The Administrative Committee may use any reasonable method for computing the income allocable to excess contributions. A method will be considered reasonable if it:
(i) does not violate Section 401(a)(4) of the Code; (ii) is used consistently for all Participants; and (iii) is used by the Plan for allocating income to Participant’s accounts. 

(f) Correction Methods. To the extent necessary to meet the requirements of Section 401(k) of the Code and the ADP Test, the
Administrative Committee shall direct the Employer to utilize the correction methods outlined in Treasury Regulation 1.401(k)-2(b) regarding excess contributions. A combination of correction methods may be utilized in compliance with Treasury
Regulation 1.401(k)-2(b)(l)(ii). 
 (1) Distribution of Excess Contributions and Allocable Income. In its
sole discretion, the Administrative Committee may direct the Employer to distribute excess contributions and allocable income, in accordance with Treasury Regulation 1.40l(k)-2(b)(2), within 12 months of the end of the Plan Year to which the excess
contributions relate. 
 (2) Recharacterization of Excess Contributions. In its sole
discretion, the Administrative Committee may direct the Employer to recharacterize excess contributions, in accordance with Treasury Regulation 1.401(k)-2(b)(3), within 2 1/2 months of the end of the Plan Year to which the excess contributions relate. 
 (3) Contribution of Qualified Non-Elective Contributions. In its sole discretion, the Administrative Committee may direct the Employer to make a qualified non-elective contribution, in accordance
with Treasury Regulation 1.401(k)-2(a)(6), on behalf of Participants who are not Highly Compensated Employees on the last day of the Plan Year in an amount sufficient to satisfy the test set forth in Section 5.1(a). 

5.2 Limitations on Total Contributions. 
 (a) Limitations on Contributions. Any of the provisions herein to the contrary notwithstanding, a Participant’s Annual Additions (as defined in Section 5.2(b)(l) below) for any Plan Year
shall not exceed his Maximum Annual Additions (as defined in Section 5.2(b)(2) below) for the Plan Year. 

  
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 (b) Definitions. 

(1) “Annual Additions” of a Participant for a Plan Year means the sum of the following: 

(A) Employee Before-Tax Contributions for the Plan Year allocated to his Employee Before-Tax Account, 

(B) Discretionary Employer Contributions for the Plan Year allocated to his Discretionary Employer Contribution Account,

 (C) Special Section 401(k) Contributions for the Plan Year allocated to his Employee Before-Tax Account,

 (D) All employer contributions, non-deductible employee contributions and forfeitures for such Plan Year
allocated to such Participant’s accounts for such Plan Year under any Related Defined Contribution Plan, and 
 (E) Contributions allocated to any individual medical account established for the Participant which is part of a Related Defined Benefit Plan as provided in Section 415(1) of the Code and any amount
attributable to post-retirement medical benefits allocated to an account, established under Section 419A(d)(l) of the Code for the Participant; provided, however, that the limitation in Section 5.2(b)(2)(A) shall not apply to any amounts
treated as an Annual Addition under this Section 5.2(b)(1)(E). 
 A Participant’s Annual Additions
shall not include amounts described in this subsection (b) that are determined to be excess contributions as defined in Section 401(k)(8)(B) of the Code, and excess deferrals as described in Section 402(g) of the Code, that are not
timely distributed in accordance with Section 4.1(d). Catch-Up Contributions, Rollover Contributions and amounts transferred to the Plan pursuant to Section 4.7 shall not be included as part of a Participant’s Annual Additions unless
such amounts represent amounts described in this subsection (b) made during the calendar year to a Related Defined Contribution Plan. 
 (2) Notwithstanding any other provisions of this Plan, except to the extent permitted under Section 4.1(b) of the Plan and Section 414(v) of the Code, if applicable, the “Maximum Annual
Additions” of a Participant for a Plan Year means the lesser of (A) and (B) below: 
 (A) $50,000
for 2012, as adjusted for each Limitation Year, to take into account any cost-of-living increase provided for such Limitation Year under Section 415(d) of the Code; or 

(B) One-hundred percent (100%) of the Participant’s Com-pensation during that Limitation Year. 

  
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 (C) For purposes of this Section 5.2, Limitation Year shall be the Plan
Year as defined in Section 2.38. However, for the short Limitation Year of June 1, 2012 through December 31, 2012, the dollar limit in subsection (A) above shall be reduced from $50,000 to $29,166.66 (7/12 x $50,000). 

(c) Combined Limitations. If the Employer maintains more than one defined contribution plan qualified under Section 401 of the
Code, then this Section shall be applied in such a way that the total Annual Additions under all such plans shall not exceed the amount specified in subsection 5.2(b)(2). Total Annual Additions shall also be limited as set forth in subsection
5.2(b)(2) across all defined contribution plans under which a Participant was a member. 
 (d) Special Related Company
Threshold. For purposes of this Section 5.2, the standard of control for determining a Related Company under Sections 414(b) and 414(c) of the Code (and thus also Related Plans) shall be deemed to be “more than 50%” rather than
“at least 80%.” 

  
 26 

 ARTICLE VI 
 Trustee and Trust Fund 
 6.1 Trust Agreement. The Company and the
Trustee have entered into a Trust Agreement which provides for the investment of the assets of the Plan and administration of the Trust Fund. The Trust Agreement, as from time to time amended, shall continue in force and shall be deemed to form a
part of the Plan, and any and all rights or benefits which may accrue to any person under the Plan are subject to all the terms and provisions of the Trust Agreement. 
 6.2 Selection of Trustee. The Finance Committee will select the Trustee in accordance with the Trust Agreement. The subsequent resignation or removal of a Trustee and the appointment of a successor
Trustee and the approval of his or its accounts will be accomplished in the manner provided in the Trust Agreement. 
 6.3
Trustee’s Duties. The powers, duties and responsibilities of the Trustee shall be as stated in the Trust Agreement, and nothing contained in this Plan either expressly or by implication shall be deemed to impose any additional powers,
duties or responsibilities upon the Trustee. All Employer Contributions, Employee Before-Tax Contributions and Rollover Contributions shall be paid into the Trust, and all benefits payable under the Plan shall be paid from the Trust. An Employer
shall have no rights or claims of any nature in or to the assets of the Trust Fund except the right to require the Trustee to hold, use, apply and pay such assets held by the Trustee, in accordance with the directions of the Administrative Committee
and the Finance Committee, for the exclusive benefit of the Participants and their Beneficiaries, except as otherwise provided in Sections 5.1 and 6.10. 
 6.4 Trust Expenses. All clerical, legal and other expenses of the Plan and the Trust and Trustee’s fees, if any, shall be paid by the Trust to the extent permissible under regulations released
by the U.S. Department of Labor; however such expenses may also be paid by an Employer. 
 6.5 Trust Entity. The Trust
under this Plan from its inception shall be a separate entity aside and apart from Employers or their assets. The Trust, and the corpus and income thereof, shall in no event and in no manner whatsoever be subject to the rights or claims of any
creditor of any Employer. 
 6.6 Separate Account. The Administrative Committee, or the Trustee on the Administrative
Committee’s behalf, shall maintain separate Accounts for each Participant as described in Section 2.1 hereof. Every adjustment to a Participant’s Accounts shall be considered as having been made on the relevant Valuation Date
regardless of the date of actual entry or receipt by the Trustee of Employer Contributions, Employee Before-Tax or Rollover Contributions for a Plan Year. 
 6.7 Investment Funds. Each Participant (or Beneficiary of such Participant) may elect (in a manner prescribed by the Administrative Committee) to have his Accounts invested in whole percentages in
increments of 1% in one or more of the Investment Funds designated by the Finance Committee by contacting the Kellogg Benefit Center. The Finance Committee may change the designation from time to time of the Investment Funds available

  
 27 

 
for investment by such Participants. A Participant’s (or Beneficiary’s) investment election or change of election may be made at any time and shall be effective as of the next Valuation
Date. A Participant’s (or Beneficiary’s) investment election shall remain effective until such time as the Participant (or Beneficiary) makes a new investment election and it becomes effective and does not automatically rebalance. If a
Participant (or Beneficiary) fails to make an investment election, his Accounts shall be invested in the Investment Fund designated by the Finance Committee. 
 6.8 Trust Income. As of each Valuation Date the fair market value of the Trust and of each Investment Fund shall be determined by the Administrative Committee or its delegate, which determination
shall be final and conclusive on all persons. As of each Valuation Date, the Administrative Committee or its delegate shall determine the net income, gains or losses of the Trust Fund and of each separate Investment Fund since the preceding
Valuation Date. The Administrative Committee (or its delegate) shall proportionately allocate the net income, gains or losses of each Investment Fund among the sum of all Participants’ Accounts, all as valued as of the preceding Valuation Date
(reduced by any distributions therefrom since the preceding Valuation Date) by crediting (or charging) each such Account by an amount equal to the net income, gains or losses of each Investment Fund multiplied by a fraction, the numerator of which
is the balance of such Account invested in such Investment Fund as of the preceding Valuation Date (reduced by any distributions therefrom since the preceding Valuation Date) and the denominator of which is the total value of all Accounts invested
in such Investment Fund as of the preceding Valuation Date (reduced by any distributions therefrom since the preceding Valuation Date); provided, however, that for the purpose of allocating such income as of the first Valuation Date, the numerator
and denominator of the preceding fraction shall be determined by using Account balances as of the first Valuation Date after all contributions are credited thereto and before income is allocated as provided in this Section 6.8. 

6.9 Correction of Error. In the event of an error in the adjustment of a Participant’s Account as described in
Section 6.8 above, the Company may in its sole discretion elect to contribute such amount as it shall determine to correct the error, or the Administrative Committee, in its sole discretion, may correct such error by either crediting or
charging the adjustment required to make such correction to or against income or as an expense of the Trust for the Plan Year in which the correction is made. Except as provided in this Section, the accounts of other Participants shall not be
readjusted on account of such error. Other errors in calculation or administration of the Plan shall be corrected using approved methods issued through regulation by the Internal Revenue Service or the U.S. Department of Labor. 

6.10 Right of the Employers to Trust Assets. Except as provided in Section 5.1, the Employers shall have no right or claims
to the Trust Fund except the right to require the Trustee to hold, use, apply, and pay such assets in its possession in accordance with the Plan for the exclusive benefit of the Participants or their Beneficiaries and for defraying the reasonable
expenses of administering the Plan and Trust; provided, that all Employer Contributions are conditioned upon their being deductible under Section 404 of the Code. 
 6.11 Voting of Shares of Company Stock held in the Trust. With respect to the interest of a Participant in any Company Stock that is part of the Trust Fund, each Participant, as a named fiduciary,
shall have the right to direct the Trustee as to the manner 

  
 28 

 
of voting and the exercise of all other rights which a shareholder of record has with respect to the Participant’s interest in Company Stock that is part of the Trust Fund (including, but
not limited to, the right to sell or retain such shares in a public or private tender offer). In the event that a Participant fails to direct the Trustee as to the manner of voting of his interest in Company Stock that is part of the Trust Fund or
as to the exercise of other rights in respect of such shares, the Trustee shall not vote such shares or exercise such rights with respect to such interest. 
 6.12 Special Rules Regarding Investments in Company Stock. Unless the Administrative Committee determines otherwise, notwithstanding any provision in the Plan to the contrary (including but not
limited to any provision in Article XIII of the Plan), Participant contributions to the Plan that are invested in Company Stock shall be accounted for on the basis of share accounting. Under share accounting, a Participant’s balance of Company
Stock that is part of the Trust Fund will be recorded as a specific number of shares, in accordance with the provisions set forth in this Section 6.12. 
 (a) A Participant may elect to change the investment of Plan contributions that are invested in Company Stock pursuant to Article XIII from Company Stock to an Investment Fund in accordance with
Section 6.7. With respect to each transfer into or out of Company Stock, each Participant may be charged a per share transaction fee, which will reduce such Participant’s investment in Company Stock that is part of the Trust Fund. All
transfers into and out of Company Stock that is part of the Trust Fund shall be made in accordance with the specific procedures established by the Administrative Committee. 
 (b) The price that a Participant receives for each transfer into or out of Company Stock will depend on the total transfers initiated by all Plan Participants on the date that the transfer is requested.
Such price shall be either: (i) the closing market price of Company Stock on the New York Stock Exchange on the date that the transfer is requested (provided that the transfer is requested by 4:00 p.m. Eastern Time on such date) or the next
business day of the calendar year if the transfer is requested on a day that the New York Stock Exchange is not open for business; or (ii) a weighted average price, whichever is applicable given the total transfers on such date. 

(c) Plan contributions invested in Company Stock may be subject to withdrawal and loan restrictions established by the Administrative
Committee, including but not limited to a requirement that such contributions be transferred to an Investment Fund before they are available for withdrawals or loans. 

  
 29 

 ARTICLE VII 
 Benefits 
 7.1 Payment of Benefits in General Upon Termination of
Employment. 
 (a) Generally. A Participant’s benefits under this Plan shall be determined as of a Valuation Date
and shall be payable in accordance with the provisions of this Article on or after the Valuation Date coinciding with or next following the Participant’s, Beneficiary’s or Alternate Payee’s election or other right to commence to
receive such benefits. In order to request payment of benefits a Participant (or Beneficiary or Alternate Payee) must contact the Kellogg Benefit Center. 
 (b) Lump Sum Payment Option. If a Participant has a Termination of Employment for any reason other than the Participant’s death, the Trustee shall, unless the Participant is eligible for and
elects an optional form of payment pursuant to Section 7.2, distribute the Participant’s vested Accrued Benefit the form of a lump sum within a reasonable time after the next Valuation Date following the later of (x) the
Participant’s Termination of Employment or (y) such later date as is permitted under Section 7.7 as the Participant elects; provided that no distribution of a lump sum amount greater than $1,000 may be made without the
Participant’s consent, prior to the Participant’s Normal Retirement Date. A lump sum may be distributed as a direct rollover pursuant to Section 7.16. 
 (c) Partial Distribution. If a Participant who is an Acquired Employee has a Termination of Employment for any reason other than the Participant’s death and the Participant’s vested
Accrued benefit is greater than $1,000, the Participant may, at any time prior to requesting distribution of his or her vested Accrued Benefit in a lump sum under subsection (b) above, request to receive a partial payment from his or her vested
Accounts of a portion of his or her vested Accrued Benefit by contacting the Kellogg Benefit Center. Such partial payment shall be a one-time payment in whatever amount the Participant may request and a partial payment request may be made more than
once. Special payments cannot include any amount of Company Stock. 
 A Participant who is not an Acquired Employee may only
receive a partial distribution under this subsection (c) if the Participant is fully vested in the Participant’s Discretionary Employer Contribution Account. 
 7.2 Payment of Accrued Benefit on Termination of Employment at Retirement. If a Participant has a Termination of Employment due to his Disability or Retirement, the following forms of benefit may
be elected by the Participant in addition to the forms of benefit described in Sections 7.1(b) and (c). 
 (a) Optional
Installment Form of Payment. A Participant may elect to receive a portion of his Accrued Benefit in one of the optional installment methods described in paragraphs (1) through (3) below. Such installment payments shall commence within
a reasonable time after the next Valuation Date following the later of the Participant’s Termination of Employment or such later date as is permitted under Section 7.7 and which the Participant elects. 

  
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 (1) Fixed Installment Payment Option: This option provides a monthly
benefit in a fixed amount with the fixed amount continuing until the Accrued Benefit is exhausted. Such fixed amount may be changed by the Participant as of any month by giving advance notice to the Administrative Committee in accordance with
procedures adopted from time to time by the Administrative Committee. In-kind distributions of Company Stock are not made under this option. 
 (2) Earnings Installment Payment Option: Under this form of payment a principal amount (“Principal Amount”) equal to the Accrued Benefit at the time the request is made is established.
The initial Earnings Installment Payment will be equal to the Participant’s Accrued Benefit on the date the payment is made (“Payment Date”) less the Principal Amount. Subsequent Earnings Installment Payments will be equal to the
Participant’s Accrued Benefit on the Payment Date in each subsequent month less the Principal Amount. 
 If
the Participant’s Accrued Benefit on any Payment Date is less than the Principal Amount, then no Earnings Installment Payment will be made for the month. Furthermore, the Participant’s Accrued Benefit will be reduced by each monthly
Earnings Installment Payment and the Principal Amount will be fixed at the time of the first payment. 
 (b) Request for
Payment. In order to begin payment of an Accrued Benefit on Termination of Employment, a Participant must contact the Kellogg Benefit Center. 
 7.3 Payment of Accrued Benefit on Account of Disability. A Participant who is determined to be suffering from a Disability under Section 2.17, but who has not experienced a Termination of
Employment, may at any time request to receive a special payment of a portion of his or her Accrued Benefit by contacting the Kellogg Benefit Center. Such special payment shall be a one-time payment in whatever amount the Participant may request,
and a special payment request may be made more than once. Such payments cannot include any amount of Company Stock. 
 7.4
Payment of Accrued Benefit on Account of Death. 
 (a) Payment to Surviving Spouse. If a married Participant dies
before his entire Accrued Benefit has been paid from the Plan, the Trustee shall distribute the Participant’s Accrued Benefit (or remaining Accrued Benefit) in the following manner. Distribution shall be made within a reasonable time after the
next Valuation Date following the Participant’s death to the Participant’s surviving spouse, who shall be deemed to be the Participant’s designated Beneficiary for this purpose, in the form of a lump sum or such optional form of
benefit permitted under Section 7.2(a) as may be elected by the surviving spouse, unless the Participant (with his spouse’s consent in accordance with Section 7.8) has named a Beneficiary other than his surviving spouse to receive
some or all of his Accrued Benefit (or remaining Accrued Benefit). The surviving spouse may, subject to Section 7.12, elect to defer the timing of the receipt of the Accrued Benefit. 

  
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 (b) Payment to Other Beneficiary. If the Participant does not have a surviving spouse
or if the Participant (with his spouse’s consent in accordance with Section 7.8) has named a Beneficiary other than his surviving spouse to receive some or all of his Accrued Benefit (or remaining Accrued Benefit), the Trustee shall distribute
the Participant’s Accrued Benefit (or remaining Accrued Benefit), within a reasonable time after the next Valuation Date following the Participant’s death or as of such later Valuation Date as elected by the Participant’s Beneficiary
or Beneficiaries, to his designated Beneficiary in the form of a lump sum, provided that distribution of the Participant’s Accrued Benefit shall be completed not later than December 31 of the calendar year which contains the fifth
anniversary of the Participant’s death. 
 (c) Designation of Beneficiary. Subject to Section 7.8, the
Participant may select or change his Beneficiary from time to time by filing a Beneficiary designation with the Administrative Committee in a manner prescribed by it. No designation of Beneficiary or change of Beneficiary shall be effective until
filed with the Administrative Committee and, if applicable, until the consent of the Participant’s spouse (in accordance with Section 7.8) is filed with the Administrative Committee. A Participant’s designation of his spouse as
Beneficiary will become void as of the date the marriage is dissolved, unless a qualified domestic relations order provides otherwise or the Participant redesignates his or her former spouse as Beneficiary after the marital dissolution. If a
Participant fails to file a valid Beneficiary designation, or if all persons designated as the Beneficiary have predeceased the Participant (or, in the case of a Beneficiary other than an individual, cease to exist prior to the Participant’s
death), the Participant shall be deemed to have designated the following as Beneficiary in the following order of precedence: 
 (1) The Participant’s surviving spouse; or 
 (2) Where a
Participant does not have a surviving spouse, or where the surviving spouse predeceases the Participant, the Participant’s children, shall be the Beneficiary in equal shares; however, where a child otherwise eligible to receive a portion of the
Participant’s benefit under this subsection has predeceased the Participant, that child’s share shall be: 
 (A) Distributed to his children in equal shares, but 
 (B) If no
such children exist, the portion shall be distributed equally among the remaining children of the Participant; or 
 (3) Where the Participant has no surviving children or grandchildren, the Beneficiary shall be the Participant’s estate. 
 (d) Death While Performing Qualified Military Service. For a Participant who dies while performing qualified military service (as that term is defined under Section 414(u) of the Code), the
Beneficiaries of the Participant are entitled to any additional benefits (other than benefit accruals relating to the period of qualified military service) provided under the Plan as if the Participant had resumed and then terminated employment on
account of death as provided under Section 401(a)(37) of the Code. 
 (e) Death of Spouse. If distributions under the
installment method have commenced to the Participant’s spouse who dies before the Participant’s entire Accrued Benefit is distributed, the remainder of the Participant’s Accrued Benefit shall be distributed

  
 32 

 
at least as rapidly as under the method of distribution in effect at the time of the spouse’s death. To the extent not otherwise provided, on the death of a Beneficiary who is entitled to
benefits under the Plan, the Participant’s Accrued Benefit (or the remainder thereof) shall be distributed within a reasonable time after the Beneficiary’s death. 
 (f) Payments to Minor Child. For purposes of this Section 7.4, any amount paid to a minor child shall be treated, in accordance with regulations prescribed by the Secretary of the Treasury, as
if it had been paid to the Participant’s surviving spouse if such amount will become payable to the surviving spouse upon such child reaching majority (or such other events as the Secretary of the Treasury may by regulations prescribe).

 7.5 Hardship Withdrawal. A Participant may, in a manner prescribed by the Administrative Committee, request
distribution to him for reasons of Hardship (but not more than the amount required to meet the immediate and heavy financial need created by Hardship) of: (i) all or any portion of his Rollover Account and/or (ii) that portion of his
Employee Before-Tax Account attributable to his Employee Before-Tax Contributions (excluding any income earned thereon) and/or (iii) that portion of his Transfer Account attributable to amounts rolled over to a Related Defined Contribution Plan
and that portion of his Transfer Account attributable to employee before-tax contributions made to a Related Defined Contribution Plan (excluding any income earned thereon except for income credited to a participant’s before-tax account under
the Kellogg Company Bakery, Confectionery, Tobacco Workers and Grain Millers Savings and Investment Plan as of December 31, 1988); provided, however, that no withdrawal may be made from a Participant’s Employee Before-Tax Account and that
portion of his Transfer Account attributable to employee before-tax contributions until he has withdrawn all other amounts that are available for withdrawal under the Plan and under all other plans maintained by the Employer and has obtained all
nontaxable loans currently available under all plans maintained by the Employer. A Participant shall initiate a Hardship Withdrawal by contacting the Kellogg Benefit Center. The Participant shall submit such evidence of the existence of Hardship as
the Administrative Committee may require and all conditions as described below. 
 (a) A Participant will be considered to have
incurred a financial hardship if he has an immediate and heavy financial need that cannot be fulfilled through other reasonably available financial resources of the Participant. Immediate and heavy financial needs shall include: 

(1) Medical expenses described in Section 213(d) of the Code incurred by the Participant, the Participant’s
spouse or any dependents of the Participant (as defined in Section 152 of the Code); 
 (2) Costs directly
related to the purchase (excluding mortgage payments) of a principal residence for the Participant; 
 (3)
Payment of tuition, related educational fees, and room and board expenses, for up to the next twelve (12) months of post-secondary education for the Participant, his spouse, children or dependents (as defined in Section 152 of the Code
without regard to subsections 152(b)(1), (b)(2) and (d)(l)(B)); 

  
 33 

 (4) The expenses for the repair of damage to the Participant’s
principal residence that would qualify for the casualty deduction under Section 165 of the Code (determined without regard to whether the loss exceeds ten percent (10%) of adjusted gross income); 

(5) Payments necessary to prevent the eviction of the Participant from his principal residence or foreclosure on the
mortgage of the Participant’s principal residence; 
 (6) The payment of burial or funeral expenses for the
Participant’s deceased parent, spouse, children or dependents (as defined m Section 152 of the Code without regard to Section 152(d)(l)(B) of the Code); 

(7) Such other events, if any, that are designated by the Internal Revenue Service as constituting deemed immediate and
heavy financial needs in regulations, revenue rulings, notices, or other documents of general applicability; or 

(8) Such other events as are determined by the Administrative Committee, on the basis of all relevant facts and
circumstances, to constitute immediate and heavy financial need. 
 (b) The determination of financial hardship shall be made by
the Administrative Committee in a uniform and nondiscriminatory manner in accordance with such standards as may be promulgated from time to time by the Internal Revenue Service. The Administrative Committee may rely on the Participant’s
representation that the financial need cannot be relieved: 
 (1) Through reimbursement or compensation by
insurance or otherwise; 
 (2) By reasonable liquidation of the Employee’s assets, to the extent such
liquidation would not itself cause an immediate and heavy financial need; 
 (3) By cessation of Employee
Before-Tax Contributions; or 
 (4) By other distributions or nontaxable (at the time of the loan) loans from
plans maintained by the Employer or by any other employer, or by borrowing from commercial sources on reasonable commercial terms. 
 A Participant who has an interest in Company Stock may not receive a Hardship withdrawal under this Section 7.5 unless he or she has elected to have the Plan distribute all Cash Dividends to him or
her to the extent such dividends are currently available to the Participant. If the Hardship withdrawal is approved or processed during the period commencing on an ex-dividend date and ending on the respective dividend payable date, the amount of
the Hardship withdrawal shall be reduced by the amount of the Cash Dividends distributed or paid to the Participant in accordance with the provisions of Section 13.3. 

  
 34 

 7.6 Other In-Service Withdrawals. 

(a) Withdrawal at or after Age
59 1/2. An “Eligible Participant” may, on such form and in such manner as the Administrative Committee shall prescribe, request a
distribution in cash of all or a portion of his Before-Tax Account and/or his Rollover Account. An “Eligible Participant” for purposes of this Section 7.6(a) is any Participant who is still employed by the Employer and who has
attained age 59 1/2. 
 (b) Limited Withdrawals During Military Leave. A
Participant receiving differential wage payments from an Employer (within the meaning of Section 3401(h)(2) of the Code) who has performed qualified military service for a period of at least 30 days, shall be eligible to receive a distribution
from his or her Employee Before-Tax Account, in which case the Participant may not make Employee Before-Tax Contributions under the Plan during the six month period following such distribution. 

(c) Withdrawal from Transfer Account. A Participant may, in a manner prescribed by the Administrative Committee, request
distribution of all or a portion of the amounts credited to his Transfer Account to the extent the Participant could have requested a distribution of those amounts if they had remained in the Related Defined Contribution Plan from which the transfer
was made. 
 (d) General Participant Withdrawal Rules. Withdrawals will be drawn pro rata from each of the Investment
Funds from which the withdrawal is to be made, excluding Company Stock. 
 7.7 Deadline for Payment of Benefits.
Notwithstanding any other provision herein, payment of benefits will be made or commence not later than sixty (60) days after the later of the close of the Plan Year in which (a) the Participant attains age sixty-five (65),
(b) occurs the tenth (10) anniversary of the Plan Year in which the Participant commenced participation, or (c) the Participant had a Termination of Employment; provided that payments will be made or commence not later than the
Required Beginning Date. However, a Participant who has attained his Early Retirement Date or Normal Retirement Date may elect to defer the commencement of the benefit to a later date, but in no event later than the Participant’s Required
Beginning Date. 
 7.8 Spousal Consents. 
 (a) A valid spousal consent to the Participant’s naming of a Beneficiary other than his spouse shall be: 
 (1) In a writing acknowledging the effect of the consent; 
 (2)
Signed by the Participant’s spouse and witnessed by a notary public; 
 (3) Effective only for the spouse
who gives the consent; and 
 (4) Effective only with respect to the specific beneficiary named in the consent
unless the spouse voluntarily in such consent expressly permits subsequent elections of beneficiaries without further spousal consent and acknowledges the spouse’s right to limit the consent to a specific beneficiary; 

  
 35 

 provided that the consent of a Participant’s spouse shall not be required if it is established to the
satisfaction of a Plan representative that such consent may not be obtained because there is no spouse, or because the spouse cannot be located or because of such other circumstances as the Secretary of the Treasury may by regulations prescribe.

 (b) To the extent provided in any Qualified Domestic Relations Order (as defined in Section 12.4), the former spouse of a
Participant shall be treated as the surviving spouse of such Participant for purposes of providing consent in accordance with this Section 7.8. 
 7.9 Facility of Payment. If, in the opinion of the Administrative Committee, any person to whom benefits are payable is unable to care for his affairs because of illness, accident or other
incapacity, any payment due (unless prior claim therefore shall have been made by a duly qualified legal representative) may be paid for his benefit to his spouse, parent, child, brother or sister, or to any other person as the Administrative
Committee may from time to time determine. If any payment due any person under this Plan is unpaid at the time of the payee’s death, the Administrative Committee may determine the person equitably entitled thereto to whom the payment shall be
made (unless prior claim therefore shall have been made by a duly qualified legal representative prior to distribution). Any such payment under this Section 7.9 shall, to the extent thereof, be a complete discharge of any liability therefore.

 7.10 Form of Payment. A Participant’s Accrued Benefit payable under this Article will be distributed in
cash; provided that, except with respect to Participant withdrawals made pursuant to Section 7.5 or 7.6, all or any portion of a Participant’s Accrued Benefit that is invested in Company Stock and which is payable in the form of a lump sum
will, at the election of the Participant, be paid in whole shares of Company Stock, except that the value of any fractional share will be paid in cash. 
 7.11 Lump Sum Payment of Small Amounts. Notwithstanding anything herein to the contrary, if a Participant or his Beneficiary or an alternate payee under a Qualified Domestic Relations Order has a
distribution event, and the total vested amounted credited to the Participant’s Accounts does not exceed $1,000, the Plan Administrator shall distribute the vested amount credited to the Participant’s Accounts to the Participant,
Beneficiary or alternate payee in a single lump sum payment. But no distribution shall be made under this provision after benefit payments to the Participant or Beneficiary have begun. The distribution shall be made as soon as administratively
feasible after the distribution event. 
 7.12 Required Minimum Distribution to Participants. 

(a) General Rules. All distributions required under this Section will be determined and made in accordance with the Treasury
Regulations under Section 401(a)(9) of the Code. The requirements of this Section will take precedence over any inconsistent provisions of the Plan. Notwithstanding the other provisions of this Section, distributions may be made under a
designation made before January 1, 1984, in accordance with Section 242(b)(2) of the Tax Equity and Fiscal Responsibility Act (TEFRA) and the provisions of the Plan that relate to Section 242(b)(2) of TEFRA. 

  
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 (b) Time and Manner of Distribution. 

(1) Required Beginning Date. The Participant’s entire interest will be distributed, or begin to be
distributed, to the Participant no later than the Participant’s Required Beginning Date. 
 (2) Death of
Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows: 

(A) If the Participant’s surviving spouse is the Participant’s sole designated Beneficiary,
then distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have
attained age 70 1/2 , if later. 
 (B) If the Participant’s surviving
spouse is not the Participant’s sole designated Beneficiary, then distributions to the designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died. 

(C) If there is no designated Beneficiary as of September 30 of the year following the year of the Participant’s
death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death. 

(D) If the Participant’s surviving spouse is the Participant’s sole designated Beneficiary and the surviving
spouse dies after the Participant but before distributions to the surviving spouse begin, this paragraph (b)(2), other than paragraph (b)(2)(A), will apply as if the surviving spouse were the Participant. 

For purposes of this paragraph (b)(2) and paragraph (d), unless paragraph (b)(2)(D) applies, distributions are considered
to begin on the Participant’s Required Beginning Date. If paragraph (b)(2)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under paragraph (b)(2)(A). If distributions
under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s Required Beginning Date (or to the Participant’s surviving spouse before the date distributions are required to begin to
the surviving spouse under paragraph (b)(2)(A)), the date distributions are considered to begin is the date distributions actually commence. 

  
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 (3) Forms of Distribution. Unless the Participant’s interest is
distributed in the form of an annuity purchased from an insurance company or in a single sum on or before the Required Beginning Date, as of the first distribution calendar year distributions will be made in accordance with paragraphs (c) and
(d). If the Participant’s interest is distributed in the form of an annuity purchased from an insurance company, distributions thereunder will be made in accordance with the requirements of Section 401(a)(9) of the Code and the Treasury
Regulations. 
 (c) Required Minimum Distributions During Participant’s Lifetime. 

(1) Amount of Required Minimum Distribution For Each Distribution Calendar Year. During the Participant’s
lifetime, the minimum amount that will be distributed for each distribution calendar year is the lesser of: 

(A) The quotient obtained by dividing the Participant’s account balance by the distribution period in the Uniform
Lifetime Table set forth in Section 1.401(a)(9)-9 of the Treasury Regulations, using the Participant’s age as of the Participant’s birthday in the distribution calendar year; or 

(B) If the Participant’s sole designated Beneficiary for the distribution calendar year is the Participant’s
spouse, the quotient obtained by dividing the Participant’s account balance by the number in the Joint and Last Survivor Table set forth in Section 1.401(a)(9)-9 of the Treasury Regulations, using the Participant’s and spouse’s
attained ages as of the Participant’s and spouse’s birthdays in the distribution calendar year. 
 (2)
Lifetime Required Minimum Distributions Continue Through Year of Participant’s Death. Required minimum distributions will be determined under this paragraph (c) beginning with the first distribution calendar year and up to and
including the distribution calendar year that includes the Participant’s date of death. 
 (d) Required Minimum
Distribution After Participant’s Death. 
 (1) Death On or After Date Distributions Begin.

 (A) Participant Survived by Designated Beneficiary. If the Participant dies on or after the date
distributions begin and there is a designated Beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s
account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated Beneficiary, determined as follows: 

i. The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death,
reduced by one for each subsequent year. 

  
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 ii. If the Participant’s surviving spouse is the Participant’s
sole designated Beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s
birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in
the calendar year of the spouse’s death, reduced by one for each subsequent calendar year. 
 iii. If the
Participant’s surviving spouse is not the Participant’s sole designated Beneficiary, the designated Beneficiary’s remaining life expectancy is calculated using the age of the Beneficiary in the year following the year of the
Participant’s death, reduced by one for each subsequent year. 
 (B) No Designated Beneficiary. If
the Participant dies on or after the date distributions begin and there is no designated Beneficiary as of September 30 of the year after the year of the Participant’s death, the minimum amount that will be distributed for each
distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the Participant’s remaining life expectancy calculated using the age of the Participant in
the year of death, reduced by one for each subsequent year. 
 (2) Death Before Date Distributions Begin.

 (A) Participant Survived by Designated Beneficiary. If the Participant dies before the date
distributions begin and there is a designated Beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s
account balance by the remaining life expectancy of the Participant’s designated Beneficiary, determined as provided in paragraph (d)(l). 
 (B) No Designated Beneficiary. If the Participant dies before the date distributions begin and there is no designated Beneficiary as of September 30 of the year following the year of the
Participant’s death, distribution of the Participant’s entire interest will be completed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death. 

  
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 (C) Death of Surviving Spouse Before Distributions to Surviving Spouse
are Required to Begin. If the Participant dies before the date distributions begin, the Participant’s surviving spouse is the Participant’s sole designated Beneficiary, and the surviving spouse dies before distributions are required to
begin to the surviving spouse under paragraph (b)(2)(A), this paragraph (d)(2) will apply as if the surviving spouse were the Participant. 
 (e) Definitions. 
 (1) Designated Beneficiary. The
individual who is designated as the Beneficiary under Section 2.7 of the Plan and is the designated Beneficiary under Section 401(a)(9) of the Code and Section 1.401(a)(9)-1, Q&A-4, of the Treasury Regulations. 

(2) Distribution Calendar Year. A calendar year for which a minimum distribution is required. For distributions
beginning before the Participant’s death, the first distribution calendar year is the calendar year immediately preceding the calendar year which contains the Participant’s Required Beginning Date. For distributions beginning after the
Participant’s death, the first distribution calendar year is the calendar year in which distributions are required to begin under paragraph (b)(2). The required minimum distribution for the Participant’s first distribution calendar year
will be made on or before the Participant’s Required Beginning Date. The required minimum distribution for other distribution calendar years, including the required minimum distribution for the distribution calendar year in which the
Participant’s Required Beginning Date occurs, will be made on or before December 31 of that distribution calendar year. 
 (3) Life Expectancy. Life expectancy as computed by use of the Single Life Table in Section 1.401(a)(9)-9 of the Treasury Regulations. 

(4) Participant’s Account Balance. The account balance as of the last valuation date in the calendar year
immediately preceding the distribution calendar year (valuation calendar year) increased by the amount of any contributions made and allocated or forfeitures allocated to the account balance as of dates in the valuation calendar year after the
valuation date and decreased by distributions made in the valuation calendar year after the valuation date. The account balance for the valuation calendar year includes any amounts rolled over or transferred to the Plan either in the valuation
calendar year or in the distribution calendar year if distributed or transferred in the valuation calendar year. 

(5) Required Beginning Date. The date specified in Section 2.43 of the Plan. 

7.13 Request for Withdrawal or Distribution. A withdrawal or distribution hereunder shall be made within a reasonable time after a
Valuation Date, provided that the Administrative Committee has received the request for the withdrawal or distribution (and the consent of the Participant’s spouse in accordance with Section 7.8, if required), in a manner prescribed by it,
on or before such Valuation Date, and provided further that the Administrative Committee determines that the request satisfies the requirements for a withdrawal or distribution. 

  
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 7.14 Deduction of Taxes from Amounts Payable. The Trustee may deduct from the amounts
to be distributed hereunder such amounts as the Trustee, in his or its sole discretion, deems proper to protect the Trustee and the Trust against liability for the payment of death, succession, inheritance, income, or other federal, state or local
taxes, and out of the money so deducted the Trustee may discharge any such liability and pay the amount remaining to the Participant or his Beneficiary, as the case may be. 
 7.15 Improper Payment of Benefits. The Administrative Committee in accordance with the provisions of Section 12.7 shall require reimbursement of any amount of payment subsequently determined
not to have been properly payable to a Participant. 
 7.16 Direct Rollovers. A Distributee may elect, at the time and in
the manner prescribed by the Administrative Committee, to have any portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan specified by the Distributee in a Direct Rollover. For purposes of this Section 7.16,
the following definitions shall apply: 
 (a) Eligible Rollover Distribution. An Eligible Rollover Distribution is any
distribution of all or any portion of the balance to the credit of the Distributee, except that an Eligible Rollover Distribution does not include: (i) any distribution that is one of a series of substantially equal periodic payments (not less
frequently than annually) made for the life (or life expectancy) of the Distributee or the joint lives (or joint life expectancies) of the Distributee and the Distributee’s designated Beneficiary, or for a specified period of ten years or more;
(ii) any distribution to the extent such distribution is required under Section 401(a)(9) of the Code; (iii) the portion of any distribution that is not includible in gross income (determined without regard to the exclusion for net
unrealized appreciation with respect to employer securities); and (iv) any amount that is distributed on account of hardship. A portion of a distribution shall not fail to be an Eligible Rollover Distribution merely because the portion consists
of after-tax employee contributions which are not includible in gross income. However, such portion may be transferred only to an individual retirement account or annuity described in Section 408(a) or (b) of the Code, or to a qualified
plan described in Section 401(a) or 403(b) that agrees to separately account for amounts so transferred, including separately accounting for the portion of such distribution which is includible in gross income and the portion of such
distribution which is not so includible. 
 (b) Eligible Retirement Plan. An Eligible Retirement Plan is an individual
retirement account described in Section 408(a) of the Code, a Roth individual retirement account described in Section 408A of the Code, an individual retirement annuity described in Section 408(b) of the Code, an annuity plan
described in Section 403(a) of the Code, a qualified trust described in Section 401(a) of the Code, an annuity contract described in Section 403(b) of the Code, or an eligible plan under Section 457(b) of the Code which is
maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account for amounts transferred into such plan from this Plan, that accepts the
Distributee’s Eligible Rollover Distribution. The definition of Eligible Retirement Plan shall also apply in the case of a distribution to a surviving spouse, or to a spouse or former spouse who is the Alternate Payee under a Qualified Domestic
Relations Order, as defined in Section 12.4. 

  
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 (c) Distributee. A Distributee includes an Employee or former Employee. In addition,
the Employee’s or former Employee’s surviving spouse and the Employee’s or former Employee’s spouse or former spouse who is the Alternate Payee under a Qualified Domestic Relations Order, as defined in Section 12.4, are
Distributees with regard to the interest of the spouse or former spouse. 
 (d) Direct Rollover. A Direct Rollover is a
payment by the Plan to the Eligible Retirement Plan specified by the Distributee. 
 Notwithstanding anything in the Plan to the
contrary, a Participant’s non-spouse Beneficiary may direct that the lump sum payment made to the non-spouse Beneficiary be transferred in a direct trustee-to-trustee transfer to an individual retirement account described in Section 408(a)
of the Code, a Roth individual retirement account described in Section 408(A) of the Code, or an individual retirement annuity described in Section 408(b) of the Code in accordance with Section 402(c)(11) of the Code. 

Each Participant shall be provided with a notice of his or her rights to a direct rollover under this Section 7.16 no less than
thirty (30) days and no more than one hundred and eighty (180) days before the date such Participant’s benefit is to be paid. The Participant’s consent to the distribution must not be made before the Participant receives the
notice and must not be made more than one hundred and eighty (180) days before the date the benefit is to be paid. Such distribution may commence less than thirty (30) days after the notice required by Section 1.411(a)-11(c) of the
Treasury Regulations is given, provided that: (1) the Administrative Committee clearly informs the Participant that the Participant has a right to a period of at least thirty (30) days after receiving the notice to consider the decision of
whether or not to elect a distribution (and, if applicable, a particular distribution option); and (2) the Participant, after receiving the notice, affirmatively elects a distribution. 

7.17 Loans to Participants. The Administrative Committee may direct the Trustee to lend a Participant an amount not in
excess of the lesser of (1) 50% of his vested Accounts or (ii) $50,000 (reduced by the excess, if any, of the highest outstanding balances of all other loans from the Plan during the one-year period ending on the day before the loan was
made over the outstanding balance of loans from the Plan on the date on which such loan was made), determined as of the last completed valuation coincident with or immediately preceding the date the Participant applies for the loan. Subject to the
rules of the Administrative Committee as set forth below, the Trustee, upon application by a Participant by calling the Kellogg Benefit Center, may make a loan to such Participant for any purpose. 

In addition to such rules as the Administrative Committee may adopt, all loans shall comply with the following terms and conditions:

 (a) An application by a Participant for a loan from the Plan shall be made to the Administrative Committee (in a manner
prescribed by it which may include the use of electronic transmissions) whose action thereon shall be final. All loans granted under the Plan shall be repaid, pursuant to a written repayment schedule and shall be evidenced by a written promissory
note payable to the Trustee. 

  
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 (b) The period of repayment for any loan shall be for a term of either 12, 24, 36, 48 or 60
months by mutual agreement between the Administrative Committee and the borrower, but such period shall not exceed five years. Notwithstanding the foregoing, if the loan is to be used to acquire a dwelling that is to be used within a reasonable time
as the principal residence of the Participant, the maximum length of the repayment period will be 15 years. Repayment of interest and principal shall be according to a substantially level amortization schedule of payments beginning with the first
payroll period posting date to occur on or after the date that is three (3) weeks following the date on which the loan is processed. Repayment of interest and principal shall be by payroll deduction, except for those Participants who are not
receiving a paycheck or who are laid off with recall rights, with respect to whom a loan repayment check shall be accepted in accordance with the terms of the Plan and the Participant Loan Procedures. A Participant may have only one loan outstanding
at any time. Loans may be prepaid in full at any time without penalty. However, a Participant may only request an early loan payoff two times in one year. Loan repayments shall be allocated to a Participant’s Accounts from which the loan was
distributed as set forth in Section 7.17(k) below and shall be invested pursuant to a Participant’s current investment elections. A Participant must wait thirty days after a loan is repaid to apply for a new loan. 

(c) Loan repayments may be suspended under this Plan in accordance with Treasury Regulation 1.72(p)-1 during any period when a Participant
is engaged in uniformed service as permitted under Section 414(u) of the Code. 
 (d) Each loan shall be secured by the
assignment of the borrower’s right, title and interest in and to the Trust Fund to the extent of the borrowed amount, supported by the borrower’s collateral promissory note for the amount of the loan, including interest, payable to the
order of the Trustee. 
 (e) All loans taken under the Plan shall be subject to a reasonable rate of interest as established by
the Administrative Committee in accordance with Treasury Regulation 1.72(p)-1. 
 (f) The minimum amount available for any loan
is $1,000.00. The minimum loan term is twelve (12) months. 
 (g) The procedure to be followed by a Participant in applying
for a loan shall be determined by the Administrative Committee and documented by a duly approved set of rules of the Administrative Committee. 
 (h) In the event of default on the loan or the Participant’s termination of employment prior to repayment of the entire loan balance, the Participant shall have the option to repay the remaining loan
balance in full no later than ninety (90) days following the Participant’s Termination of Employment. 
 If the loan
is not repaid, there shall be distributed to the Participant upon his Termination of Employment the sum of (x) the value of the Participant’s Accounts without regard to the amount of any outstanding loan (including any accrued interest
thereon) plus (y) the Participant’s promissory note. If the Participant does not consent to take a full distribution of the sum of (x) plus (y), there shall be distributed to the Participant the promissory note, and the remaining
value of the Participant’s Accounts shall be distributed in accordance with Section 7.1. 

  
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 For purposes of this Section 7.17, default means a Participant’s failure to repay
the loan when due in accordance with the procedures outlined in subsection (b) hereof. Notwithstanding any other provision in the Plan to the contrary, no loan will be made to a Participant who has previously defaulted on a loan with respect to
any portion of his or her Accounts, unless the Participant repays the previously defaulted loan to the Plan. 
 (i) Loans shall
not be made available to Highly Compensated Employees in the amount greater than the amount that is made available to the other Employees. 
 (j) Notwithstanding anything herein to the contrary, the Administrative Committee may direct the Trustee to make a loan to a Participant who is a former Employee but who is a “party in interest”
as that term is defined in Section 3(14) of ERISA, in accordance with nondiscriminatory rules. 
 (k) All loans shall be
taken on a pro-rata basis from the funds in which a Participant’s Accounts are invested, excluding Company Stock, the following order: 
 (1) Discretionary Contribution Account. 
 (2) That portion of the
Participant’s Transfer Account, if any, attributable to non-safe harbor employer matching contributions made to a Related Defined Contribution Plan. 
 (3) That portion of the Participant’s Transfer Account, if any, attributable to safe harbor employer matching contributions made to a Related Defined Contribution Plan. 

(4) That portion of the Participant’s Transfer Account, if any, attributable to employee after-tax contributions made
to a Related Defined Contribution Plan. 
 (5) Rollover Account. 

(6) That portion of the Participant’s Transfer Account attributable to amounts rolled over to a Related Defined
Contribution Plan. 
 (7) Employee Before-Tax Account. 

(8) That portion of the Participant’s Transfer Account attributable to employee before-tax contributions made to a
Related Defined Contribution Plan. 
 (9) That portion of the Participant’s Transfer Account, if any,
attributable to the Participant’s prior MP account under the Kellogg Company Savings and Investment Plan. 
 (l) All loans
shall comply with the Participant Loan Procedures adopted by the Administrative Committee. 

  
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 (m) Loans shall be made available to Participants and Beneficiaries on a reasonably
equivalent basis. 
 (n) A Participant who has a loan outstanding and is granted an unpaid Authorized Leave of Absence or is
subject to a period of layoff may suspend loan repayments until the earlier of: 
 (1) The end of the unpaid
Authorized Leave of Absence or the end of the layoff period, as applicable; or 
 (2) A period of twelve months
after the Authorized Leave of Absence or the layoff period commences, as applicable, 
 subject to the provisions of the
Participant Loan Procedures. Upon the end of the period specified in either (1) or (2) above, as applicable, the loan shall be reamortized and repaid within a period that does not exceed the original loan term, in accordance with the
Participant Loan Procedures. 
 (o) In the event that a Participant files for bankruptcy and notifies the Administrative
Committee (or the Plan recordkeeper) of such filing, repayment of the Participant’s outstanding loan balance may be suspended, subject to the terms of the Participant Loan Procedures and the Bankruptcy Notice Procedures. 

7.18 Re-employment. If a former Participant who has commenced receiving his Accrued Benefit in the form of installments is
re-employed by an Employer, the installment payments will be stopped. 

  
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 ARTICLE VIII 
 Administration 
 8.1 Chairman of the Board Duties. The
Chairman of the Board will have overall responsibility for the establishment, amendment, termination, administration and operation of the Plan, which responsibility he will discharge by the appointment and removal (with or without cause), subject to
Section 8.3 of the Plan, of (a) the members of the Administrative Committee, to which is delegated the overall responsibility for the administration and operation of the Plan, including the authority to receive and determine benefit claims
and determine appeals of benefit claims, and (b) the members of the Finance Committee to which is delegated the overall responsibility for the investment of the Trust Fund. 

8.2 Committee Duties. 
 (a) Administrative Committee. The Administrative Committee, which is designated as the administrator of the Plan within the meaning of Section 3(16)(A) of ERISA, shall enforce the Plan in
accordance with the terms of the Plan and the Trust Agreement and shall have all discretionary powers necessary to accomplish that purpose, including but not by way of limitation, the following: 

(1) To issue rules and regulations necessary for the proper conduct and administration of the Plan and to change, alter,
or amend such rules and regulations; 
 (2) To construe and interpret the Plan and Trust Agreement, including
ambiguous provisions; 
 (3) To determine all questions arising in its administration, including those relating
to the eligibility of persons to become Participants; the rights of Participants, former Participants and their Beneficiaries; and Employer Contributions; and its decision thereon shall be final and binding upon all persons hereunder; 

(4) To compute and certify to the Trustee the amount and kind of benefits payable to Participants or their Beneficiaries;

 (5) To authorize all disbursements of the Trustee from the Trust Fund; 

(6) To employ and suitably compensate such accountants and attorneys (who may but need not be the accountants or attorneys
of the Company) and other persons to render advice and clerical employees as it may deem necessary to the performance of its duties; 
 (7) To communicate the Plan and its eligibility requirements to the Employees and to notify Employees when they become eligible to participate; 

  
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 (8) To make available to Participants upon request, for examination during
business hours, such records as pertain exclusively to the examining Participant; 
 (9) To hear, review and
determine claims for benefits; and 
 (10) To adopt rules, procedures and such guidance as may be necessary
regarding the use of interactive voice response systems to effect changes in contributions, investment elections and such other changes as the Administrative Committee believes may be furthered by the use of interactive voice response technologies.
The Administrative Committee may substitute such technology for the written elections required by the Plan upon reasonable notice to the Participants. Participants making use of interactive voice response technology shall be bound as if the
Participant had submitted a written request to the Administrative Committee. 
 (b) Finance Committee. The Finance
Committee will direct the investment of the assets of the Trust Fund and will have all powers necessary to accomplish that purpose, including but not by way of limitation, the following: 

(1) To appoint and remove and direct the Company to enter into a Trust Agreement with the Trustee; 

(2) To appoint and remove and direct the Company to contract with one or more investment managers (within the meaning of
Section 3(38) of ERISA); 
 (3) To establish and communicate to the Trustee and any investment managers
investment objectives and guidelines and periodically review and monitor the performance of the Trustee and any investment managers; and 
 (4) To direct, in its discretion, that Plan assets be invested in such contracts (including but not limited to a group annuity contract, a guaranteed investment contract, an immediate participation
guarantee contract or a deposit administration contract) issued by an insurance company authorized to do business in any State of the United States, selected from time to time by the Finance Committee. The Trustee shall be the policyholder of such
contract unless the Finance Committee directs that the Company shall be the policyholder of such contract, provided that, regardless of who is the policyholder, the Finance Committee shall have the right to exercise, or to direct the Trustee to
exercise, all rights, powers, and elections provided under any such contract. 
 (5) To select the Investment
Funds to be made available for Participant-directed investments. 
 8.3 Committee Membership. The Administrative
Committee and the Finance Committee shall each consist of not fewer than three (3) members, who shall be appointed by the Chairman of the Board. They shall remain in office at the will of the Chairman of the Board, and the Chairman of the Board
may from time to time remove any of said members with or without cause and shall appoint their successors. 

  
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 8.4 Committee Structure. Each member of the Administrative Committee and the Finance
Committee shall be an officer or Employee of an Employer hereunder. Each person, upon becoming a member of a Committee, shall file an acceptance thereof in writing with the secretary of the Company and the secretary of the Committee. Any member of a
Committee may resign by delivering his written resignation to the, secretary of the Company and the secretary of the Committee, and such resignation shall become effective upon the date specified therein. In the event of a vacancy in membership, the
remaining members shall constitute the Committee with full power to act until said vacancy is filled. 
 8.5 Committee
Actions. The action of each of the Administrative Committee and the Finance Committee shall be determined by the vote or other affirmative expression of a majority of its respective members. Each Committee shall choose a chairman who
shall be a member of the Committee and a secretary who may (but need not) be a member of the Committee. The secretary shall keep a record of all meetings and acts of the Committee and shall have custody of all records and documents pertaining to its
operations. Either the chairman or the secretary may execute any certificate or other written direction on behalf of the Committee. The decisions of the Administrative Committee and the Finance Committee in matters within each Committee’s
respective jurisdiction shall be final, binding and conclusive upon the Employers and the Trustee and upon each Employee, Participant, former Participant, Beneficiary and every other person or party interested or concerned. 

8.6 Committee Liability. The Administrative Committee and the Finance Committee and the members thereof shall be free from
all liability, joint or several, for their acts as members of such Committee, except to the extent that they may have been guilty of willful misconduct, except as otherwise required by federal law. 

8.7 Committee Bonding. The members of the Administrative Committee and the Finance Committee shall serve without bond
(except as otherwise required by federal law) and without compensation for their service as such; but all expenses of the Committees shall be paid by the Trust except to the extent paid by the Employers. 

8.8 Allocations and Delegations of Responsibility. 
 (a) The Board of Directors, the Chairman of the Board, the Administrative Committee, and the Finance Committee shall each have the authority to delegate from time to time, by instrument in writing filed
in its minute books, all or any part of its responsibilities under the Plan to such person or persons as it may deem advisable (and may authorize such person, upon receiving the written consent of the delegating authority, to delegate such
responsibilities to such other person or persons as the delegating authority shall authorize), and in the same manner to revoke any such delegation of responsibility. Any action of the delegate in the exercise of such delegated responsibilities
shall have the same force and effect for all purposes hereunder as if such action had been taken by the delegating authority. The Employers, the Board of Directors, the Chairman of the Board, the Administrative Committee, and the Finance Committee
shall not be liable for any acts or omissions of any such delegate except as required by the Code or ERISA. The delegate shall periodically report to the delegating authority concerning the discharge of the delegated responsibilities. 

  
 48 

 (b) The Board of Directors, the Chairman of the Board, the Administrative Committee, and the
Finance Committee shall each have the authority to allocate from time to time, by instrument in writing filed in its minute books, all or any part of its responsibilities under the Plan to one or more of its members as it may deem advisable, and in
the same manner to revoke such allocation of responsibilities. Any action of the member to whom responsibilities are allocated in the exercise of such allocated responsibilities shall have the same force and effect for all purposes hereunder as if
such action had been taken by the allocating authority. The Employers, the Board of Directors, the Chairman of the Board, the Administrative Committee, and the Finance Committee shall not be liable for any acts or omissions of such member except as
required by the Code or ERISA. The member to whom responsibilities have been allocated shall periodically report to the allocating authority concerning the discharge of the allocated responsibilities. 

8.9 Information to be Supplied by Employers. Employers shall provide the Administrative Committee and the Finance Committee or
their delegates with such information as they shall from time to time need in the discharge of their duties. The Committees and the Trustee may rely conclusively on the information certified to it by an Employer. 

8.10 Records. The regularly kept records of the Administrative Committee, the Finance Committee, the Company and the
Employers shall be conclusive evidence of the service (including the Eligibility Computation Period) of an Employee, his Compensation, his age, his marital status, his status as an Employee, and all other matters contained in such records applicable
to this Plan, except as otherwise required by ERISA, provided that an Employee may request a correction in the record of his age at any time prior to retirement, and such correction shall be made if within ninety (90) days after such request he
furnishes in support thereof a birth certificate, baptismal certificate, or other documentary proof of age satisfactory to the Administrative Committee. 
 8.11 Fiduciary Capacity. Any person or group of persons may serve in more than one fiduciary capacity with respect to the Plan. 

8.12 Company as Agent. The Company, the Administrative Committee and the Finance Committee, as applicable, shall act as agent for
each Employer in the administration of the Plan. 
 8.13 Fiduciary Responsibility. If a Plan fiduciary acts in accordance
with ERISA, Title I, Subtitle B, Part 4: 
 (a) in determining that the Participant’s spouse has consented to a waiver or to
the Participant’s naming of a Beneficiary other than his spouse or that the consent of the Participant’s spouse may not be obtained because there is no spouse, the spouse cannot be located or other circumstances prescribed by the Secretary
of the Treasury by regulations, then to the extent of payments made pursuant to such consent, revocation or determination, the Plan and its fiduciaries shall have no further liability; or 

(b) in treating a domestic relations order as being (or not being) a Qualified Domestic Relations Order (as defined in
Section 12.4), or, during any period in which the issue of whether a domestic relations order is a Qualified Domestic Relations 

  
 49 

 
Order is being determined (by the Administrative Committee, by a court of competent jurisdiction, or otherwise), in separately accounting for the amounts (“Segregated Amounts”) which
would have been payable to the Alternate Payee during such period if the order had been determined to be a Qualified Domestic Relations Order, in paying the Segregated Amounts (including any interest thereon) to the person entitled thereto if within
the 18-month period beginning with the date on which the first payment would be required to be made under the domestic relations order (the “18-Month Period”) the domestic relations order (or a modification thereof) is determined to be a
Qualified Domestic Relations order, in paying the Segregated Amounts (including any interest thereon) to the person entitled thereto if there had been no order, if within the 18-Month Period the domestic relations order is determined not to be
qualified, or if the issue is not resolved within the 18-Month Period and in prospectively applying a domestic relations order which is determined to be qualified after the close of the 18-Month Period, then the obligation of the Plan and its
fiduciaries to the Participant and each Alternate Payee shall be discharged to the extent of any payment made pursuant to such acts. 

  
 50 

 ARTICLE IX 
 Claims Procedure 
 9.1 Filing of Claims. Every Participant or
Beneficiary of a Participant shall be entitled to file with the Administrative Committee (or its delegate) a claim for benefits under the Plan. Such a claim for benefits shall be accompanied by a substantiation of the claim as is considered
necessary and reasonable for the type of claim being filed. 
 9.2 Denial of Claims. If a claim is denied in whole or in
part, the claimant shall receive a written or electronic notice explaining the denial of the claim within ninety (90) days after receipt of the claim. If the Administrative Committee (or its delegate) determines that for reasons beyond its
control, a ninety (90) day extension of time is necessary to process the claim, the claimant shall be notified in writing of the extension and reason for the extension within ninety (90) days after the receipt of the claim. The written
extension notification shall also indicate the date by which the Administrative Committee (or its delegate) expects to render a final decision. A notice of denial of claim shall contain the following: 

(a) The specific reason or reasons for the denial; 

(b) Reference to the specific Plan provisions on which the denial is based; 

(c) A description of any additional materials or infom1ation necessary for such claimant to perfect the claim and an
explanation of why such material or information is necessary; and 
 (d) A description of the Plan’s review
procedures and the time limits applicable to such procedures, including a statement of the claimant’s right to bring a civil action under Section 502(a) of ERISA following an adverse benefit determination on review. 

9.3 Appeal of Denied Claims. A claimant may file a written request for a review of the denial of a claim within sixty
(60) days after receiving written notice of the denial. The claimant may submit written comments, documents, records and other relevant information in support of the claim. A claimant shall be provided, upon request and without charge,
reasonable access to, and copies of, all documents, records, and other information relevant to the claimant’s claim for benefits. A document, record, or other information shall be considered relevant if it: 

(a) Was relied upon in denying the claim; 

(b) Was submitted, considered or generated in the course of processing the claim, regardless of whether it was relied
upon; 
 (c) Demonstrates compliance with the claims procedures process; or 

(d) Constitutes a statement of Plan policy or guidance concerning the denied benefit, regardless of whether it was relied
upon. 

  
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 9.4 Appeal Procedures. In reviewing a denied claim, the reviewer shall take into
consideration all comments, documents, records, and other information submitted by the claimant in support of the claim, without regard to whether such information was submitted or considered in the initial benefit determination. 

9.5 Decisions on Appealed Claims. The Administrative Committee (or its delegate) will notify the claimant in writing of its
decision on the appeal. Such notification will be in writing in a form designed to be understood by the claimant. If the claim is denied in whole or in part on appeal, the notification will also contain: 

(a) The specific reason or reasons for the denial; 

(b) Reference to the specific Plan provisions on which the determination is based; 

(c) A statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and
copies of, all documents, records, and other information relevant to the claimant’s claim for benefits. A document, record, or other information shall be considered relevant if it: 

(1) Was relied upon in denying the claim; 

(2) Was submitted, considered or generated in the course of processing the claim, regardless of whether it was relied
upon; 
 (3) Demonstrates compliance with the claims procedures process; or 

(4) Constitutes a statement of Plan policy or guidance concerning the denied benefit, regardless of whether it was relied
upon; and 
 (5) A statement that the claimant has a right to bring an action under Section 502(a) of ERISA.

 Such notification will be given by the Administrative Committee (or its delegate) within sixty (60) days after the
complete appeal is received (or within one hundred twenty (120) days if the Administrative Committee (or its delegate) determines special circumstances require an extension of time for considering the appeal, and if written notice of such
extension and circumstances is given to the claimant within the initial sixty (60) day period). Such written extension notice shall also indicate the date by which a decision is expected. 

9.6 Second Level Appeal of Adverse Benefit Determination. A claimant may file a written request to the ERISA Subcommittee of the
Administrative Committee for a review of the denial of an appeal of a claim within sixty (60) days after receiving written notice of the denial of the appeal. The claimant may submit written comments, documents, records and other relevant
information in support of the claim, and will be given reasonable access to, and copies of, all documents, records and other information relevant to the claim. The ERISA Subcommittee’s review will take into account all comments, documents,
records and other information the claimant submits relating to the claim, without regard to whether the information was submitted or considered in the initial benefit determination or the first level of appeal. 

  
 52 

 The ERISA Subcommittee will notify the claimant of the decision on appeal within 60 days of
the ERISA Subcommittee’s receipt of the appeal, unless special circumstances require an extension of time of up to 60 days for processing the appeal. If an extension is required, the ERISA Subcommittee will notify the claimant before the
expiration of the initial 60-day period explaining the special circumstances that require an extension of time and includes the date by which the ERISA Subcommittee expects to issue its determination on appeal. 

9.7 Voluntary Third Level Appeal of Adverse Benefit Determination. A claimant may file a written request to the Administrative
Committee for a review of the denial of an appeal of a claim within sixty (60) days after receiving written notice of the denial of the appeal. The claimant may submit written comments, documents, records and other relevant information in
support of the claim, and will be given reasonable access to, and copies of, all documents, records and other information relevant to the claim. The Administrative Committee’s review will take into account all comments, documents, records and
other information the claimant submits relating to the claim, without regard to whether the information was submitted or considered in the initial benefit determination or the first or second level appeals. 

The Administrative Committee will notify the claimant of the decision on appeal within 60 days of the Committee’s receipt of the
appeal, unless special circumstances require an extension of time of up to 60 days for processing the appeal. If an extension is required, the Administrative Committee will notify the claimant before the expiration of the initial 60-day period
explaining the special circumstances that require an extension of time and includes the date by which the Committee expects to issue its determination on appeal. 
 9.8 Limitation on Legal Actions. Any claimant who wishes to bring a civil action in connection with a claim for benefits under the Plan must first complete each step of the claims procedures set
forth in Sections 9.1 through 9.6. In addition, any claimant who wishes to bring a civil action after having exhausted the claims procedures set forth Sections 9.1 through 9.6 must bring such civil action within six (6) months after the
claimant’s receipt of a final adverse benefit determination as described in Section 9.6. 
 Any claimant who fails to
file such civil action within six (6) months after receipt of a final adverse benefit determination under Section 9.6 shall be barred from filing such an action at any later date. However, if a claimant avails himself of the voluntary
third level appeal described in Section 9.7, the claimant has six (6) months after receipt of the final adverse benefit determination issued under Section 9.7 to bring a civil action in connection with the claim. 

No action at law or in equity shall be brought in connection with the Plan except in federal district court in the State of Michigan.

  
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 9.9 Compliance with Regulations. Notwithstanding anything in this Article IX to the
contrary, the Committee shall make all determinations regarding claims for benefits in accordance with Section 2560.503-1 of the Department of Labor Regulations. 

  
 54 

 ARTICLE X 
 Amendment and Termination of the Plan 
 10.1 Plan Termination. The
continuation of the Plan and the payment of Employer Contributions is not assumed as a contractual obligation of the Company or any other Employer, and the right is reserved by the Company and each other Employer at any time to reduce, suspend or
discontinue its contributions hereunder, and the right is reserved by the Company, by action of the Chairman of the Board of Directors or resolution of the Board of Directors, to terminate the Plan at any time; provided, however, that the Employer
Contributions for any Plan Year accrued or determined prior to the end of said year shall not after the end of said year be retroactively reduced, suspended or discontinued except as may be permitted by law. 

10.2 Amendment. The Company, by action of the Chairman of the Board or resolution of the Board of Directors, may amend, notify,
change, revise, discontinue or terminate the Plan at any time. Except as provided in Sections 5.1 and 6.10, no amendment shall: (a) increase the duties or liabilities of the Trustee or the Administrative Committee or the Finance Committee
without their written consent; (b) have the effect of vesting in any Employer any interest in the funds, securities or other property subject to the terms of this Plan and Trust Agreement; (c) authorize or permit at any time any part of
the corpus or income of the Trust Fund to be used or diverted to purposes other than for the exclusive benefit of Participants and their Beneficiaries; (d) have any retroactive effect as to deprive any Participant or Beneficiary of any benefit
already accrued or shall operate either directly or indirectly to reduce either the nonforfeiture percentage of any Participant’s Accrued Benefit or the Accrued Benefit of any Participant as they are constituted at the time of the amendment;
provided, however, that no amendment made in conformance to provisions of the Code, or any other statute relating to employees’ trusts, or any official regulations or ruling issued pursuant thereto, shall be considered prejudicial to the rights
of any Participant or Beneficiary. Furthermore, the Company is authorized to make and execute any amendment it determines necessary or desirable, with or without retroactive effect, to comply with ERISA or to maintain the Plan’s tax-qualified
status under the Code. 
 10.3 Payment Upon Termination. Upon termination of the Plan or complete discontinuance of
Employer Contributions, each Participant’s Accrued Benefit will remain fully vested and nonforfeitable. Upon a partial termination of the Plan, the Accrued Benefit of each former Participant who lost status as a Participant (or otherwise
suffered the partial termination) because of such partial termination will remain fully vested and nonforfeitable. In the event of termination of the Plan and after payment of all expenses, the Administrative Committee may direct that either
(a) each Participant and each Beneficiary of a deceased Participant receive his entire Accrued Benefit as soon as reasonably possible, provided that the Employer does not maintain or establish another defined contribution plan as of the date of
said termination, or (b) the Trust be continued and Participants’ Accrued Benefits be distributed at such times and in such manner as provided in Article VII. 
 10.4 Withdrawal from the Plan by an Employer. Any Employer other than the Company may withdraw from the Plan and Trust Agreement, under such terms and conditions as the Board of Directors may
prescribe, by delivery to the Trustee and the Company of a resolution of its board of directors electing to so withdraw. 

  
 55 

 ARTICLE XI 
 Top Heavy Provisions 
 11.1 Application. The definitions in
Section 11.2 shall apply under this Article XI and the special rules in Section 11.3 shall apply, notwithstanding any other provisions of the Plan, for any Plan Year in which the Plan is a Top Heavy Plan and for such other Plan Years as
may be specified herein. Anything in this Article XI to the contrary notwithstanding, if the Plan is a multiemployer plan described in Code Section 414(f), or a multiple employer plan as described in Code Section 413(c), the provisions of
this Article XI shall be applied separately to each Employer and Related Company taking account of benefits under the plan provided to employees of the Employer or Related Company because of service with that Employer or Related Company. 

11.2 Special Top Heavy Definitions. The following special definitions shall apply under this Article XI. 

(a) “Aggregate Employer Contributions” means the sum of all Employer Contributions under this Plan
allocated for a Participant to the Plan and employer contributions and forfeitures allocated for the Participant to all Related Defined Contribution Plans in the Aggregation Group; provided, however, that with respect to Non-Key Employees, Employee
Before-Tax Contributions and Employer Contributions under the Plan and employer contributions attributable to salary reduction or similar arrangement and matching contributions (within the meaning of Section 401(m)(4)(A) of the Code) under the
Plan and Related Defined Contribution Plans shall not be included in Aggregate Employer Contributions. 
 (b)
“Aggregation Group” means the group of plans in a Mandatory Aggregation Group, if any, that includes the Plan, unless the inclusion of Related Plans in the Permissive Aggregation Group would prevent the Plan from being a Top Heavy
Plan, in which case “Aggregation Group” means the group of plans consisting of the Plan and each other Related Plan in a Permissive Aggregation Group with the Plan. 

(1) “Mandatory Aggregation Group” means each plan (considering the Plan and Related Plans) that,

 (A) had a participant who was a Key Employee (regardless of whether the plan has terminated), or 

(B) was necessary to be considered with a plan in which a Key Employee participated in order to enable the plan in which
the Key Employee participated to meet the requirements of Section 401(a)(4) or 410 of the Code. If the Plan is not described in (A) or (B) above, it shall not be part of a Mandatory Aggregation Group. 

(2) “Permissive Aggregation Group” means the group of plans consisting of (A) the plans, if any, in
a Mandatory Aggregation Group with the Plan, and (B) any other Related Plan, that, when considered as a part of the Aggregation Group, does not cause the Aggregation Group to fail to satisfy the requirements of

  
 56 

 
Section 401(a)(4) and Section 410 of the Code. A Related Plan in (B) of the preceding sentence may include a simplified employee pension plan, as defined in Code
Section 408(k), and a collectively bargained plan, if when considered as a part of the Aggregation Group such plan does not cause the Aggregation Group to fail to satisfy the requirements of Section 401(a)(4) and Section 410 of the
Code, considering, if the plan is a multiemployer plan as described in Code Section 414(f) or a multiple employer plan as described in Code Section 413(c), benefits under the plan only to the extent provided to employees of the employer
because of service with the employer and, if the plan is a simplified employee pension plan, only the employer’s contribution to the plan. 
 (c) “Determination Date” means, with respect to a Plan Year, the last day of the preceding plan year or, in the case of the first plan year, the last day of such plan year. If the Plan is
aggregated with other plans in the Aggregation Group, the Determination Date for each other plan shall be, with respect to any plan year, the Determination Date for each such other plan which falls in the same calendar year as the Determination Date
for the Plan. 
 (d) “Key Employee” means any Employee or former Employee (including any deceased Employee) who
at any time during the Plan Year that includes the detem1ination date was (i) an officer of an Employer having annual compensation greater than $160,000 (as adjusted under Section 416(i)(l) of the Code), (ii) a 5% owner of an
Employer, or (iii) a 1% owner of an Employer having annual compensation of more than $150,000. For this purpose, annual compensation means Compensation within the meaning of Section 415(c)(3) of the Code. The determination of who is a Key
Employee will be made in accordance with Section 416(i)(l) of the Code and the applicable regulations and other guidance of general applicability issued thereunder. 
 (e) “Non-Key Employee” means a person with an accrued benefit or account balance in the Plan or any Related Plan in the Aggregation Group at any time during the Measurement Period who is
not a Key Employee, and any beneficiary of such a person. 
 (f) “Present Value of Accrued Benefits” means, for
any Plan Year, an amount equal to the sum of (1), (2) and (3), subject to (4), for each person who, in the Plan Year containing the Determination Date, was a Key Employee or a Non-Key Employee. 

(1) The value of a person’s Accrued Benefit under the Plan and each Related Defined Contribution Plan in the
Aggregation Group, determined as of the valuation date coincident with or immediately preceding the Determination Date, adjusted for contributions due as of the Determination Date, as follows: 

(A) In the case of a plan not subject to the minimum funding requirements of Section 412 of the Code, by including
the amount of any contributions actually made after the valuation date but on or before the Determination Date, and in the first plan year of a plan, by including contributions made after the Determination Date that are allocated as of a date in
that first plan year; and 

  
 57 

 (B) In the case of a plan that is subject to the minimum funding
requirements, by including the amount of any contributions that would be allocated as of a date not later than the Determination Date, plus adjustments to those amounts as required under applicable rulings, even though those amounts are not yet
required to be contributed or allocated (e.g., because they have been waived) and by including the amount of any contributions actually made (or due to be made) after the valuation date but before the expiration of the extended payment period in
Section 412(c)(10) of the Code. 
 (2) The sum of the actuarial present values of a person’s accrued
benefits under each Related Defined Benefit Plan in the Aggregation Group, expressed as a benefit commencing at Normal Retirement Date (or the person’s attained age, if later) determined based on the applicable mortality table as provided under
Section 417(e)(3)(B) of the Code and the current applicable interest rate as provided under Section 417(e)(3)(C) of the Code and determined in accordance with Code Section 416(g); provided, however, that the accrued benefit of any
Non-Key Employee shall be determined under the method which is used for accrual purposes for all Related Defined Benefit Plans or, if no single accrual method is used in all such plans, such accrued benefit shall be determined as if such benefit
accrued not more rapidly than the slowest accrual rate permitted under Code Section 411(b)(1)(C). The present value of an accrued benefit for any person who is employed by an employer maintaining a plan on the Determination Date is determined
as of the most recent valuation date which is within a 12-month period ending on the Determination Date; provided however that: 
 (X) For the first plan year of the plan, the present value for an employee is determined as if the employee had a Termination of Employment (1) on the Determination Date or (2) on such valuation
date but taking into account the estimated accrued benefit as of the Determination Date; and 
 (Y) For the
second and subsequent plan years of the plan, the accrued benefit taken into account for an employee is not less than the accrued benefit taken into account for the first plan year unless the difference is attributable to using an estimate of the
accrued benefit as of the Determination Date for the first plan year and using the actual accrued benefit as of the Determination Date for the second plan year. 
 For purposes of this paragraph (2), the valuation date is the valuation date used by the plan for computing plan costs for minimum funding, regardless of whether a valuation is performed that Year. If the
plan provides for a nonproportional subsidy as described in Treasury Regulations Section 1.416-1 (T-27), the present value of accrued benefits shall be determined taking into account the value of nonproportional subsidized early retirement
benefits and nonproportional subsidized benefit options. 
 (3) The aggregate value of amounts distributed during
the plan year that includes the Determination Date or any of the four preceding plan years, including amounts distributed under a terminated plan which, if it had not been tem1inated, would have been in the Aggregation Group. 

  
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 (4) The following rules shall apply in determining the Present Value of
Accrued Benefits: 
 (A) Amounts attributable to qualified voluntary employee contributions, as defined in
Section 219(e) of the Code, shall be excluded. 
 (B) In computing the Present Value of Accrued Benefits
with respect to rollovers or plan-to-plan transfers, the following rules shall be applied to determine whether amounts which have been distributed during the five (5) year period ending on the Determination Date from or accepted into this Plan
or any plan in the Aggregation Group shall be included in determining the Present Value of Accrued Benefits: 

i. Unrelated Transfers accepted into the Plan or any plan in the Aggregation Group shall not be included. 

ii. All Related Transfers accepted at any time into the Plan or any plan in the Aggregation Group shall be included.

 iii. Unrelated Transfers made from the Plan or any plan in the Aggregation Group shall be included.

 iv. Related Transfers made from the Plan or any plan in the Aggregation Group shall not be included by the
transferor plan (but shall be counted by the accepting plan). 
 (C) The Accrued Benefit of any individual who
has not performed services for an Employer maintaining the Plan at any time during the five- (5) year period ending on the Determination Date shall be excluded. 
 (g) “Related Transfer” means a rollover or a plan-to-plan transfer which is either not initiated by the Employee or is made between plans, each of which is maintained by a Related
Company. 
 (h) A “Top Heavy Aggregation Group” exists in any Plan Year for which, as of the Determination Date,
the sum of the Present Value of Accrued Benefits for Key Employees under all plans in the Aggregation Group exceeds sixty percent (60%) of the sum of the Present Value of Accrued Benefits for all employees under all plans in the Aggregation
Group; provided that, for purposes of determining the sum of the Present Value of Accrued Benefits for all employees, there shall be excluded the Present Value of Accrued Benefits of any Non-Key Employee who was a Key Employee for any Plan Year
preceding the Plan Year that contains the Determination Date. 
 (i) “Top Heavy Plan” means the Plan in any Plan
Year in which the Plan is a member of a Top Heavy Aggregation Group, including a Top Heavy Aggregation Group consisting solely of the Plan. 

  
 59 

 (j) “Unrelated Transfer” means a rollover or a plan-to-plan transfer which
is both initiated by the Employee and (a) made from a plan maintained by a Related Company to a plan maintained by an employer which is not a Related Company or (b) made to a plan maintained by a Related Company from a plan maintained by
an employer which is not a Related Company. 
 11.3 Special Top Heavy Provisions. For each Plan Year in which the
Plan is a Top Heavy Plan, the following rules shall apply, except that the special provisions of this Section 11.3 shall not apply with respect to any employee included in a unit of employees covered by an agreement which the Secretary of Labor
finds to be a collective-bargaining agreement between employee representatives and one or more Employers if there is evidence that retirement benefits were the subject of good faith bargaining between such employee representative and the Employer or
Employers: 
 (a) Minimum Employer Contributions. In any Plan Year in which the Plan is a Top Heavy Plan, the Employers
shall make additional Employer Contributions to the Plan as necessary for each Participant who is employed on the last day of the Plan Year and who is a Non-Key Employee to bring the amount of his Aggregate Employer Contributions for the Plan Year
up to at least three percent (3%) of his Compensation, or if the Plan is not required to be included in an Aggregation Group in order to permit a Related Defined Benefit Plan in the Aggregation Group to satisfy the requirements of
Section 401(a)(4) or Section 410 of the Code, such lesser amount as is equal to the largest percentage of a Key Employee’s Compensation (as limited in accordance with Section 11.3(d)) allocated to the Key Employee as Aggregate
Employer Contributions, unless such Participant is a Participant in a Related Defined Benefit Plan and receives a minimum benefit thereunder in accordance with Section 416(c) of the Code, in which case such Participant shall not receive a
minimum contribution under this Section 11.3(a). 
 For purposes of determining whether a Non-Key Employee is a Participant
entitled to have minimum Employer Contributions made on his behalf, a Non-Key Employee will be treated as a Participant even if he is not otherwise a Participant (or accrues no benefit) under the Plan because: 

(1) He has failed to complete the requisite number of hours of service (if any) after becoming a Participant in the Plan,

 (2) He is excluded from participation in the Plan (or accrues no benefit) merely because his compensation is
less than a stated amount, or 
 (3) He is excluded from participation in the Plan (or accrues no benefit) merely
because of a failure to make mandatory employee contributions or, if the Plan is a 401(k) plan, because of a failure to make elective 401(k) contributions. 
 If the highest amount of Aggregate Employer Contributions allocated to the account of a Key Employee for a Plan Year in which the Plan is a Top Heavy Plan is less than 3%, amounts contributed by an
Employer to the Trust on behalf of said Key Employee as a result of a Compensation Reduction Election shall be included in determining contributions made on behalf of said Key Employee. 

  
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 (b) Determination of Amounts. Notwithstanding Section 11.2(f) of the Plan, this
subsection 11.3(b) shall apply for purposes of determining the amounts of account balances of Employees as of the determination date. 
 (1) Distributions during Year Ending on the Determination Date. The amounts of account balances of an Employee as of the determination date shall be increased by the distributions made with respect
to the Employee under the Plan and any plan aggregated with the Plan under Section 416(g)(2) of the Code during the one (1) year period ending on the determination date. The preceding sentence shall also apply to distributions under a
terminated plan which, had it not been terminated, would have been aggregated with the Plan under Section 416(g)(2)(A)(i) of the Code. In the case of a distribution made for a reason other than a Termination of Employment, death, or Disability,
this provision shall be applied by substituting five (5) year period for one (1) year period. 
 (2)
Employees not Performing Services during Year Ending on the Determination Date. The accounts of any individual who has not performed services for an Employer during the one (1) year period ending on the determination date shall not be
taken into account. 
 (c) Vesting. For each Plan Year in which the Plan is a Top Heavy Plan and for each Plan Year
thereafter, the Participant’s Accrued Benefit shall remain fully vested and nonforfeitable. 
 (d) Terminated Plan.
If the Plan becomes a Top Heavy Plan after it has formally been terminated, has ceased contributions and has been or is distributing all plan assets to participants and their beneficiaries as soon as administratively feasible or if a terminated plan
has distributed all benefits of participants and their beneficiaries, the provisions of Section 11.3 shall not apply to the Plan. 
 (e) Frozen Plans. If the Plan becomes a Top Heavy Plan after contributions have ceased under the Plan but all assets have not been distributed to participants or their beneficiaries, the provisions
of Section 11.3 shall apply to the Plan. 

  
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 ARTICLE XII 
 Miscellaneous Provisions 
 12.1 Employer Joinder. Any Related
Company may by resolution of such Related Company’s board of directors, with the approval of the Administrative Committee and subject to such terms and conditions (including but not limited to terms and conditions concerning Eligibility
Computation Periods and amount of Accrued Benefits) as the Administrative Committee may prescribe, adopt the Plan and Trust Agreement. 
 12.2 Plan Merger. The Plan shall not merge or consolidate with, or transfer any assets or liabilities to any other plan, unless each Participant would receive a benefit immediately after the
merger, consolidation or transfer (if the Plan were then terminated) which is equal to or greater than the benefit he would have been entitled to immediately before the merger, consolidation, or transfer (if the Plan were then terminated).

 12.3 Non-Alienation of Benefits. 
 (a) No benefit payable at any time under this Plan shall be subject in any manner to alienation, sale, transfer, assignment, pledge, attachment, or other legal processes, or encumbrance of any kind. Any
attempt to alienate, sell, transfer, assign, pledge or otherwise encumber any such benefits, whether currently or thereafter payable, shall be void. No benefit, nor any fund which may be established for the payment of such benefits, shall, in any
manner, be liable for or subject to the debts or liabilities of any person entitled to such benefits. 
 (b) Notwithstanding
Section 12.3(a), the Trustee 
 (1) Shall comply with an order determined by the Committee to be a Qualified
Domestic Relations Order as provided in Section 12.4, and 
 (2) Shall comply with a domestic relations
order if benefits are already being paid under such order. 
 (c) A Participant’s benefits under the Plan may be subject to
reduction for Federal and state income tax withholding, and in an amount that the Participant is ordered or required to pay to the Plan if the order or requirement to pay arises: 

(1) Under a judgment of conviction for a crime involving the Plan; 

(2) Under a civil judgment (including a consent order or decree) entered by a court in an action brought in connection
with a violation (or alleged violation) of the fiduciary responsibility requirement of ERISA; or 
 (3) Pursuant
to a settlement agreement between the Secretary of Labor and the Participant, or a settlement agreement between the Pension Benefit Guaranty Corporation and the Participant, in connection with a violation (or alleged violation) of the fiduciary
responsibility requirements of ERISA by a fiduciary or any other person. 

  
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 12.4 Qualified Domestic Relations Order. 

(a) If the Administrative Committee receives a domestic relations order that purports to require the payment of a Participant’s
benefits to a person other than the Participant, the Administrative Committee shall promptly notify the named Participant and any Alternate Payee (as defined in subsection (d) below) of the receipt of the domestic relations order and of the
Plan’s procedures for determining if the order is a Qualified Domestic Relations Order (as defined in subsection (d) below). The Administrative Committee shall also notify the Participant and any Alternate Payee of its determination as to
whether the order meets the requirements of a Qualified Domestic Relations Order. 
 (b) During the period in which the order is
under review to determine whether it is a Qualified Domestic Relations Order, the Administrative Committee shall direct the Trustee to segregate the specified amounts to newly established Accounts for the Alternate Payee who may be entitled to
receive the amounts should the order be determined to be a Qualified Domestic Relations Order. 
 (c) The Administrative
Committee may direct the Trustee to distribute amounts payable under the terms of a Qualified Domestic Relations Order to the designated Alternate Payee under such order on the earliest date specified in such order, without regard to whether such
distribution is made or commences prior to the Participant’s earliest retirement age (as defined in Section 414(p)(4)(B) of the Code) or the earliest date that the Participant could commence receiving benefits under the Plan. 

(d) For the purposes of this Section, the following terms shall have the following definitions: 

(1) “Alternate Payee” means any spouse, former spouse, child or other dependent of a Participant who is
recognized by a domestic relations order as having a right to all or a portion of the benefits payable under the Plan to the Participant. 
 (2) “Qualified Domestic Relations Order” means any domestic relations order or judgment that meets the requirements set forth in Section 414(p)(l)(A) of the Code. 

12.5 Unclaimed Amount. Unclaimed amounts shall consist of the amounts of the Accounts of a retired, deceased or terminated
Participant which cannot be distributed because of the Administrative Committee’s inability, after a reasonable search, to locate a Participant or his Beneficiary within a period of two (2) years after the payment of benefits becomes due.
Unclaimed amounts for a Plan Year shall become a Forfeiture and shall be applied in accordance with Section 4.3(f)(3), within a reasonable time after the close of the Plan Year in which such two-year period shall end. If an unclaimed amount is
subsequently properly claimed by the Participant or the Participant’s Beneficiary, said amount shall be paid to such Participant or Beneficiary, and shall be accounted for by charging the amount necessary to make such payment against the
Employer(s) whose Employer Contributions were reduced by such Forfeiture. 

  
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 12.6 No Contract of Employment. Nothing contained in this Plan shall be
construed as a contract of employment between any Employer and any Employee or as creating a right of any Employee to be continued in the employment of any Employer. 
 12.7 Reduction for Overpayment. The Administrative Committee shall, whenever it determines that a person has received benefit payments under this Plan in excess of the amount to which the
person is entitled under the terms of the Plan, make a reasonable attempt to collect such overpayment from the person. If the person to whom such overpayments were made does not, within a reasonable time, make the requested repayment to the Trustee,
the overpayment shall be considered as an advance payment of benefits and the Administrative Committee shall direct the Trustee to reduce all future benefits payable to that person by the equivalent value of the overpayment. 

12.8 Employees’ Trust. The Plan and Trust are created for the exclusive purpose of providing benefits to the Participants in
the Plan and their Beneficiaries and defraying reasonable expenses of administering the Plan and Trust. The Plan and Trust shall be interpreted in a manner consistent with their being a Plan described in Section 401(a) of the Code and a Trust
exempt under Section 501(a) of the Code. At no time shall the Trust Fund be diverted from the above purpose, except as may be provided in Section 6.10. 
 12.9 Source of Benefits. All benefits payable under the Plan shall be paid or provided solely from the Trust, and the Employers assume no liability or responsibility therefore. 

12.10 Limitation on Liability. No Employer nor any agent or representative of any Employer who is an Employee, officer, or
director of an Employer in any manner guarantees the Trust Fund against loss or depreciation, and to the extent not prohibited by federal law, none of them shall be liable (except for his own gross negligence or willful misconduct), for any act or
failure to act done or omitted in good faith with respect to the Plan. No Employer shall be responsible for any act or failure to act of any Trustee appointed to administer the Trust Fund except as required by the Code or ERISA. No Employer shall be
responsible for the sufficiency of the Trust Fund, and in the event of termination of the Plan, no Employer shall be required to make any contributions to the Trust. 
 12.11 Company Merger. In the event that any successor corporation to the Company, by merger, consolidation, purchase or otherwise, shall elect to adopt the Plan, such successor corporation shall be
substituted hereunder for the Company upon filing in writing with the Trustee its election so to do. 
 12.12 Gender and
Number. Except when the context indicates to the contrary, when used herein, masculine taints shall be deemed to include the feminine or neuter, and singular the plural. 

12.13 Headings. The headings of articles and sections are included solely for convenience of reference, and if there is any
conflict between such headings and the text of this Plan, the text shall control. 

  
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 12.14 Uniform and Nondiscriminatory Application of Provisions. The provisions
of this Plan shall be interpreted and applied in a uniform and non-discriminatory manner with respect to all Participants, former Participants, and Beneficiaries. 
 12.15 Invalidity of Certain Provisions. If any provision of this Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions hereof and
the Plan shall be construed and enforced as if such provisions, to the extent invalid or unenforceable, had not been included. 

12.16 Law Governing. The Plan shall be construed and enforced according to the laws of Michigan without regard to its laws with
respect to choice of law, to the extent not preempted by ERISA. 

  
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 ARTICLE XIII 
 Employee Stock Ownership Plan Provisions 
 13.1 Establishment of ESOP.
The portion of the Plan invested in Company Stock is intended to qualify as an employee stock ownership plan under Section 4975(e)(7) of the Code (the “ESOP Portion”). The ESOP Portion is maintained as a portion of the Plan as
authorized by Treasury Regulations Section 54.4975-11(a)(5). The remaining part of the Plan is intended to be a profit sharing plan which meets the requirements for qualification under Sections 401(a) and 401(k) of the Code (the “Profit
Sharing Portion”). Together the ESOP Portion and the Profit Sharing Portion constitute the entire Plan and are intended to be a single plan under Treasury Regulations Section 1.414(1)-1(b)(1). 

13.2 Definitions. For purposes of this Article XIII, the following terms shall have the meaning set forth below: 

(a) “Cash Dividends” means the cash dividends that are paid on or after by the Company with respect to the Company Stock held in
the Trust. 
 (b) “Payment Election” means a completed election made under Section 13.3 pursuant to which a
Participant has affirmatively elected to have his or her Cash Dividends paid to the Trustee and distributed by the Trustee to the electing Participant outside the Plan. To the extent administratively feasible, the Trustee will distribute the Cash
Dividends to Participants on the same day the Cash Dividends are paid to the Trustee. The Administrative Committee may, in its sole discretion, which shall be applied in a uniform and non-discriminatory manner, instead (i) allow Participants to
affirmatively elect to have their Cash Dividends paid to the Trustee and distributed by the Trustee to the Participants no later than 90 days after the end of the Plan Year in which paid to the Trustee, or (ii) allow Participants to
affirmatively elect to have their Cash Dividends paid directly to them in cash outside the Plan. 
 13.3 Election to Receive
Dividends on Company Stock. 
 (a) The Administrative Committee shall prescribe rules and procedures that allow each
Participant with an interest in Company Stock that is part of the Trust Fund to elect to have the Cash Dividends allocable to him or her paid to the Trustee and distributed by the Trustee to the electing Participant outside the Plan rather than
having such Cash Dividends paid to the Plan and reinvested in Company Stock within the Trust Fund. To the extent administratively feasible, the Trustee will distribute the Cash Dividends to Participants on the same day the Cash Dividends are paid to
the Trustee. 
 The Administrative Committee may, in its sole discretion, which shall be applied in a uniform and
non-discriminatory manner, instead (i) allow Participants to affirmatively elect to have their Cash Dividends paid to the Trustee and distributed by the Trustee to the Participants no later than 90 days after the end of the Plan Year in which
paid to the Trustee, or (ii) allow Participants to affirmatively elect to have their Cash Dividends paid directly to them in cash outside the Plan. Such rules and procedures that are prescribed by the Administrative Committee shall be in
accordance with the terms of the Plan or, to the extent 

  
 66 

 
not specified in the Plan, the requirements that must be satisfied in order for a federal income tax deduction to be allowed under Section 404(k) of the Code with respect to the amount of
Cash Dividends (including the requirement that the election to receive Cash Dividends be irrevocable for the period to which it applies and including the requirement set forth in Section 404(k)(2)(B) of the Code). 

(b) In the event a Participant does not complete a Payment Election, the Cash Dividends allocated to him or her shall be automatically
paid to the Plan and reinvested in Company Stock within the Trust Fund. Participants may make a Payment Election in the manner prescribed by the Administrative Committee, which may include the use of electronic transmissions and/or an interactive
voice response system. 
 A Payment Election shall be irrevocable once accepted by the Administrative Committee and shall remain
in effect indefinitely thereafter, unless the Participant cancels the Payment Election pursuant to the rules and procedures adopted by the Administrative Committee, which shall give Participants a reasonable opportunity to change a dividend election
at least annually and at any time that there is a modification in the Plan’s provisions governing the manner in which Cash Dividends are paid or distributed to Participants. A Participant’s Payment Election shall be effective as soon as
administratively practicable following the date the Plan receives the Participant’s Payment Election. A Payment Election must be completed by the Participant within the time prescribed for such purpose and pursuant to the rules and procedures
adopted by the Administrative Committee from time to time. 
 Any Payment Election that is not completed as required by the
Administrative Committee shall be considered null and void. Notwithstanding any provisions in this Section 13.3 to the contrary, in the absence of a valid Payment Election, if a Hardship withdrawal is processed on an ex-dividend date for a
Participant with an interest in Company Stock that is part of the Trust Fund, the Participant shall be deemed to have a Payment Election in effect solely with respect to said ex-dividend date, and the applicable Cash Dividends shall be distributed
or paid to the Participant in accordance with the provisions of this Section 13.3. 
 (c) Cash Dividends that are paid or
reinvested pursuant to Section 404(k)(2)(A)(iii) of the Code and the provisions of this Section shall not be considered to be Annual Additions for purposes of Section 415(c) of the Code, Employee Before-Tax Contributions for purposes of
Section 402(g) of the Code, elective contributions for purposes of Section 401(k) of the Code or employee contributions for purposes of Section 401(m) of the Code. 

(d) Notwithstanding the foregoing provisions of this Section 13.3, Participants who are residents of states that have not amended
their tax laws to conform with Section 404(k)(2) of the Code, as amended by the Economic Growth & Tax Relief Act of 2001, shall have their respective Cash Dividends distributed to them in cash, in the same manner as if they had
completed a Payment Election. 

  
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 13.4 Share Accounting. Notwithstanding the foregoing provisions of this Article XIII,
all Participant contributions to the Plan that are invested in Company Stock shall be accounted for on the basis of share accounting, in accordance with Section 6.12 of the Plan. 

13.5 ESOP Requirements. To the extent required by applicable law, the Company reserves the right to amend the Plan to conform to
any applicable statutory or regulatory requirements. 

*        *        *      
  *        * 

  
 68 

 IN WITNESS WHEREOF, the Company has caused this Plan to be executed by its duly authorized
officer this 31 day of May, 2012. 
  

	
	KELLOGG COMPANY
	
	By: /s/ Gary H.
Pilnick                                       
                    
	
	 Title: Senior Vice President, General
           Counsel, Corporate

          Development and Secretary

  
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