Document:

Exhibit

EXHIBIT 10.2        

                  
July 31, 2015

Mr. Fred Gehring
Willem Royaardsstraat 2
Amsterdam 1077 WR 
The Netherlands

Dear Fred:
This letter agreement (this “Agreement”) memorializes our understanding regarding the terms and conditions of your continued employment with PVH B.V., a private limited liability company organized under the laws of the Netherlands (“PVH Europe” and, together with its affiliates, including, without limitation, its indirect parent corporation, PVH Corp. (“PVH”), the “Company”; the Company will refer to PVH Europe or PVH or PVH and its affiliates and subsidiaries, including PVH Europe, collectively, as the context may require).  The effective date of this Agreement shall be August 1, 2015 (the “Effective Date”).

1.Employment Period.  PVH Europe agrees to continue to employ you, and you agree to continue to be employed by PVH Europe, in accordance with the terms and conditions hereof.  This Agreement will not constitute a guarantee of employment.  Subject to Paragraph 9, each of the parties hereto acknowledges and agrees that either party may terminate your employment at any time, for any legal reason or no reason, by giving written notice to the other party, subject to a notice period of 45 days for you and 90 days for PVH Europe.  This Agreement will automatically terminate upon the end of the month during which you reach the State pension age (AOW-gerechtigde leeftijd).  The period commencing on the Effective Date and ending on the last day of the applicable notice period is hereinafter referred to as the “Employment Period.”  This Agreement will terminate upon your termination of employment for any reason, except for the surviving provisions of this Agreement as described in Paragraph 18.

2.Position and Duties.  During the Employment Period, you will serve as Vice Chairman, PVH Corp. (or such other titles(s) as may be mutually agreed upon), and will report to PVH’s Chief Executive Officer (“CEO”) and Board of Directors (the “Board”).  

a.Discontinuation of Certain Roles and Duties.  Effective as of the Effective Date:

		
	i.
	you will no longer hold the title of, and will no longer have duties or responsibilities with respect to your current role as, Executive Chairman, Tommy Hilfiger; and

		
	ii.
	you will no longer serve as a director of PVH or any of its subsidiaries.

Mr. Fred Gehring
July 31, 2015
Page 2

In connection with the foregoing, you agree to provide a resignation from the Board and the board of directors of any of the Company’s subsidiaries and affiliates.  Such resignations shall not trigger any rights to severance, acceleration of stock or other awards or any other compensation or rights arising out of or in connection with the termination of such roles.

b.Continuing Role and Duties.  In your role as Vice Chairman, PVH Corp., you will serve as an advisor to PVH’s CEO and Board on matters related to PVH and its business and growth strategies, which, for the avoidance of doubt, may include matters relating to PVH’s Tommy Hilfiger business.  Your working hours are expected to approximate, on average, 20% to 30% of full time employment.  Each of the parties acknowledges and agrees that working hours will vary greatly from week to week and that there will be periods of time when working hours will be equivalent to full time employment and weeks when no services are performed.  From and after the Effective Date, you may regulate your working hours and work location as you reasonably determine, so long as you continue to satisfy your responsibilities pursuant to this Agreement.

c.Other Roles.  During the Employment Period, you will be entitled to serve as a member of the board of directors of a reasonable number of other companies, to serve on civic and charitable boards and to manage your personal and family investments, in each case, to the extent such activities do not materially interfere, in the reasonable judgment of the Board, with the performance of your duties for the Company and are otherwise consistent with the Company’s governance policies and do not violate applicable law, rule or regulation.  Without limiting the generality of the foregoing, (A) you may continue to maintain a direct or indirect ownership interest in each of Pepe Holdings Ltd., TH Asia Limited, and Karl Lagerfeld B.V. (formerly known as Asian and Western Classics B.V.), including the right to increase your ownership interest in each such entity; and (B) you may purchase and maintain a direct or indirect ownership interest in Denham the Jeanmaker B.V. and may increase your ownership in such entity.  Furthermore, you may continue your directorship in TH Asia Limited and Karl Lagerfeld B.V. and support Apax Partners L.P. and/or any of its affiliates in defining a new business strategy for Karl Lagerfeld B.V.; provided, however, that in all such cases, such directorship and support will not interfere with the performance of your duties hereunder in any significant manner and any services provided to any such entity will not directly conflict with, or bring such entity into direct competition with, any of the Company’s businesses.  For the avoidance of doubt, you are not allowed to perform services for Pepe Holdings Ltd.

d.No Termination or Severance Under Prior Agreement.  You acknowledge and agree that nothing herein constitutes the termination of your employment without “Cause” or permits you to terminate your employment for “Good Reason” under the Amended and Restated Employment Agreement, dated as of July 23, 2013, between PVH Europe and you, as amended through the date hereof (the “Prior Agreement”).  You further acknowledge and agree that you are not entitled to any severance pay under the Prior Agreement or otherwise.

3.Base Salary.  During the Employment Period, PVH Europe will pay you a salary at the annual rate of €500,000 gross (“Base Salary”), which amount includes holiday pay, payable in accordance with the normal payroll procedures of PVH Europe in effect from time to time.

Mr. Fred Gehring
July 31, 2015
Page 3

4.Incentive and Bonus Compensation.  You will be eligible to participate in the Company’s existing and future stock plans (collectively, “Stock Plans”), to the extent that you are qualified to participate in any such Stock Plan under the generally applicable provisions thereof in effect from time to time, but you acknowledge and agree that you will not participate in any other incentive compensation program of the Company.  Nothing herein will be deemed to prohibit the Company or the Board from amending or terminating any and all Stock Plans in its sole and absolute discretion.  Except as otherwise provided herein, the terms of each Stock Plan will govern your rights and obligations thereunder with respect to any award during your employment and upon the termination thereof.

a.    Equity Awards.  In each fiscal year of PVH during the Employment Period, commencing with the 2016 fiscal year, you will be entitled to receive an award of restricted stock units having a grant date fair value (as determined in accordance with PVH’s standard practices) equal to €500,000.  Each such award will be granted to you at the same time as annual grants are made to other executives of PVH and will vest on the first anniversary of the grant date, subject to your continued employment with the Company through such date.  No such award shall be subject to accelerated vesting upon retirement.  All other terms of such awards will be governed by the Stock Plans and the agreements and other documents pursuant to which the awards are granted.

b.    Special Cash Bonus.  You will be entitled to receive a one-time special cash bonus of €3,000,000 gross, which will be paid to you in September 2015.  Such bonus is being awarded to you (i) in recognition of your successful transition of the Company’s Tommy Hilfiger business to the Chief Executive Officer, Tommy Hilfiger, (ii) as compensation in advance and in lieu of any entitlements you may have to receive severance, including without limitation, transition compensation referred to in article 7:673 Dutch Civil Code and any other severance to be paid upon or in connection with a termination of your employment agreement under Dutch law, and (iii) your agreement hereby not to challenge any termination by the Company of your employment or to seek any compensation in connection therewith.  You hereby agree that if you challenge any termination by the Company of your employment or seek any compensation in connection with any termination of employment, then the Company may demand, and you shall return to the Company within 30 days of such demand, an amount equal to €1,000,000 gross.  

c.    Pro-Ration of 2015 Fiscal Year Bonus.  You acknowledge and agree that you will not participate in the Company’s bonus plans for periods subsequent to the Effective Date.  As a result thereof, should either bonus award made to you in respect of PVH’s 2015 fiscal year become payable, your payout will be determined by multiplying the amount of the bonus payable to you by a fraction, the numerator of which is equal to the number of days in PVH’s 2015 fiscal year that occur prior to the Effective Date and the denominator of which is 365.

d.    Partial Forfeiture of GRIP II Award.  You acknowledge and agree that you will forfeit 25% of the value of the Growth and Retention Incentive Plan II performance share unit award granted to you on May 6, 2013 (the “GRIP II Award”), representing the 

Mr. Fred Gehring
July 31, 2015
Page 4

remaining portion of the GRIP II performance cycle subsequent to the Effective Date.  The GRIP II Award will remain outstanding subject to the same terms and conditions in effect as of the Effective Date, except that in event of a payout of any portion of the award, such payout will be reduced by 25%.

5.Benefits.

a.    Continuation of Benefits.  You will be eligible to participate in all employee benefit and insurance plans sponsored or maintained by the Company for similarly situated executives (including any savings, retirement, life, health and disability plans), to the extent that you are qualified to participate in any such plan under the generally applicable provisions thereof in effect from time to time and subject to applicable law, it being acknowledged that by virtue of your residence and principal workplace being in Amsterdam, the Netherlands, as well as the continuation of your participation in certain plans that were in effect for you and/or the employees of PVH Europe prior to the effective date of the Prior Agreement, that there may be differences in the employee benefit and insurance plans provided to you and PVH’s executives in the United States.  Nothing herein will be deemed to prohibit the Company or the Board from amending or terminating any such plan in its sole and absolute discretion.  Except as otherwise provided herein, the terms of each such plan will govern your rights and obligations thereunder during your employment and upon the termination thereof.  Without limiting the generality of the foregoing, the parties acknowledge and agree as follows:

		
	i.
	You will continue to participate in the collective pension scheme of PVH Europe, as amended on January 1, 2015.  According to the pension scheme, your pensionable basis (‘pensioengevend salaris’) is equal to €100,000 gross as of the Effective Date.  During the Employment Period, you will be entitled to receive an additional amount of compensation each month, as determined by PVH Europe, based on the difference between the amount that PVH Europe would have contributed to the pension scheme on your behalf pursuant to Dutch pension law in effect on December 31, 2014, and the amount that PVH Europe will contribute to the pension scheme on your behalf pursuant to Dutch pension law as currently in effect.  This additional amount of monthly compensation will be phased out over five years in accordance with a schedule to be determined by PVH Europe.  You will be entitled to receive this additional amount of monthly compensation until the earlier of (a) January 1, 2020 and (b) the date of your termination of employment for any reason.

		
	ii.
	The Company will continue to procure at its cost accident, death and disability, and director and officer liability insurance coverage consistent with that previously provided in connection with your employment and services as an officer and director of PVH or certain of its subsidiaries.  It is acknowledged and agreed that such insurance may be provided through group policies covering other executives, employees or directors of the Company.

Mr. Fred Gehring
July 31, 2015
Page 5

6.Vacation.  You hereby acknowledge and agree that included in your non-working days each calendar year during the Employment Period are the minimum number of paid vacation days that you are entitled to receive each calendar year under Dutch law.  You may determine which non-working days are used for vacation, subject to you (a) taking into account the Company’s interests and your duties hereunder when scheduling vacation and other personal activities and (b) consulting with PVH’s Chief Executive Officer prior to making arrangements that will result in your unavailability at any critical period or for more than five consecutive business days.  You will use all reasonable efforts to ensure that you can be reached at all times during your vacation on reasonable notice.

7.Expenses.  The Company will pay or reimburse you for reasonable expenses incurred or paid by you in the performance of your duties hereunder in accordance with the generally applicable policies and procedures of the Company, as in effect from time to time and subject to the terms and conditions thereof.  Such procedures include the reimbursement of approved expenses within 30 days after approval.

8.Termination of Employment.  If your employment with PVH Europe is terminated by either party for any reason, or if your employment is terminated due to your death during the Employment Period, the Company will have no further obligation to you hereunder except for the payment or provision to you (or your estate, if applicable) of (i) the portion of the Base Salary for periods prior to the effective date of termination accrued but unpaid (if any), (ii) all unreimbursed expenses (if any), subject to Paragraph 7, and (iii) other payments, entitlements or benefits, if any, in accordance with terms of the applicable plans, programs, arrangements or other agreements of PVH Europe or any affiliate thereof (other than any severance plan or policy) as to which you held rights to such payments, entitlements or benefits, whether as a participant, beneficiary or otherwise on the date of termination  (collectively, the “Accrued Benefits”).

a.    Disability.  Your employment will be terminable by PVH Europe, subject to applicable law and the Company’s short-term and long-term disability policies then in effect, if you become physically or mentally disabled, whether totally or partially, such that you are prevented from performing your usual duties and services hereunder during the 104-week period referred to in section 7:629 subsection 1 of the Dutch Civil Code (“Disability”).  In the case of Disability, PVH Europe will continue to pay you 70% of the “maximum daily wage” under Dutch law (which is €3,032.05 gross per month as of the date hereof) during such 104-week period.  You must strictly comply with the rules and guidelines which have been communicated to you by or on behalf of the Company.  If your employment is terminated by PVH Europe due to your Disability if and when permitted by applicable law, PVH Europe will have no further obligation to you hereunder, except for the payment to you or your legal guardian or representative, as appropriate, of the Accrued Benefits. 

9.Confidentiality.  You recognize that any knowledge and information of any type whatsoever of a confidential nature relating to the business of the Company, including, without limitation, all types of trade secrets, vendor and customer lists and information, employee lists and information, information regarding acquisition and divestment strategies, business strategies, product development, marketing plans, management organization information, operating policies and manuals, sourcing data, performance results, business plans, financial records, and other 

Mr. Fred Gehring
July 31, 2015
Page 6

financial, commercial, business and technical information (collectively, “Confidential Information”), must be protected as confidential, not copied, disclosed or used, other than for the benefit of the Company, at any time.  You further agree that at any time during the Employment Period or thereafter you will not divulge to anyone (other than the Company or any person employed or designated by the Company), publish or make use of any Confidential Information without the prior written consent of the Company, except as (and only to the extent) (i) required by an order of a court having competent jurisdiction or under subpoena from an appropriate government agency and then only after providing the Company with the reasonable opportunity to prevent such disclosure or to receive confidential treatment for the Confidential Information required to be disclosed, (ii) with respect to any other litigation, arbitration or mediation involving this Agreement, including, but not limited to the enforcement of this Agreement or (iii) as to Confidential Information that becomes generally known to the public or within the relevant trade or industry other than due to your violation of this Paragraph 9.  You further agree that following the termination of the Employment Period for whatever reason, (A) the Company will keep all tangible property assigned to you or prepared by you and (B) you will not misappropriate or infringe upon the Confidential Information of the Company (including the recreation or reconstruction of Confidential Information from memory).

10.Non-Competition. You acknowledge and recognize the highly competitive nature of the businesses of the Company, and, accordingly, agree that during the Restricted Period (as defined below), you will not, without the prior written consent of PVH, directly or indirectly, on your behalf or on behalf of any other individual, firm, corporation, association or other entity (each, a “Person”), as an employee, director, advisor, partner, consultant or otherwise, engage in any business of, provide services to, enter the employ of, or have any interest in any Competitive Business Entity.  “Competitive Business Entity” will mean any of the companies listed on Exhibit A and any of their respective controlled affiliates.  Nothing herein will restrict you from owning, for personal investment purposes only, less than 2% of the voting stock or other securities of any publicly held Competitive Business Entity or 5% of the ownership interest in any non-publicly held Competitive Business Entity, if you have no other connection or relationship with the issuer of such securities.  The “Restricted Period” for purposes of this Agreement will mean the period commencing on the Effective Date and ending on the first anniversary of your termination of employment with the Company for any reason.

11.Non-Solicitation.  You agree that during the term of your employment with the Company and for a period ending on the date that is 18 months following the termination of your employment with the Company for any reason, you will not (i) hire or solicit to hire, whether on your own behalf or on behalf of any other Person (other than the Company), any employee of the Company or any individual who had left the employ of the Company within 12 months of the termination of your employment with the Company, or (ii) directly or indirectly, encourage or induce any employee of the Company to leave the Company's employ, except in the ordinary course of the Company's business.  Notwithstanding the foregoing, if your employment continues after January 31, 2017, then your obligations under this provision shall continue during the remainder of the Employment Period and for a period ending on the date that is 12 months after the last day of the Employment Period.

Mr. Fred Gehring
July 31, 2015
Page 7

12.Public Comment.  During the Employment Period and at all times thereafter, you will not make any derogatory comment concerning the Company (including its brands, products and businesses) or any of its current or former directors, officers, stockholders or employees.  Similarly, the then current (i) members of the Board and (ii) members of the Company’s senior management will not make any derogatory comment concerning you, and the Company will use reasonable efforts to ensure that the former (A) members of the Board and (B) members of the Company’s senior management do not make any derogatory comment concerning you.

13.Blue Penciling.  It is expressly understood and agreed that although you and the Company consider the restrictions to be reasonable, if a final judicial determination is made by a court of competent jurisdiction that the time or any other restriction contained in this Agreement is an unenforceable restriction against you, the provisions of this Agreement will not be rendered void but will be deemed amended to apply as to such maximum time and to such maximum extent as such court may judicially determine or indicate to be enforceable. Alternatively, if any court of competent jurisdiction finds that any restriction contained in this Agreement is unenforceable, and such restriction cannot be amended so as to make it enforceable, such finding will not affect the enforceability of any of the other restrictions contained herein.

14.Injunctive Relief. You acknowledge and agree that your covenants and obligations set forth in Paragraphs 9, 10, 11 and 12 relate to special, unique and extraordinary services rendered by you to the Company and that a violation of any of the terms of such covenants and obligations will cause the Company irreparable injury for which adequate remedies are not available at law.  Therefore, you agree that the Company will be entitled to seek an injunction, restraining order or other temporary or permanent equitable relief (without the requirement to post bond) restraining you from committing any violation of the covenants and obligations contained herein.  These injunctive remedies are cumulative and are in addition to any other rights and remedies the Company may have at law or in equity.

15.Penalty.  If you are in breach of any of the covenants and obligations contained in Paragraphs 9, 10, 11 and 12, you will owe to the Company without any demand or other prior notice a non-recurrent penalty of €10,000, to be increased by a penalty of €1,000 for each day, including a portion of a day, that the breach continues.  The Company will be entitled to the penalty without prejudice to any claim for performance of the covenants and obligations set out in Paragraphs 9, 10, 11 and 12.  The Company will have the right to claim damages in addition to the aforementioned penalty.

16.Work for Hire.  You agree that all marketing, operating and training ideas, sourcing data, processes and materials, including all inventions, discoveries, improvements, enhancements, written materials and development related to the business of the Company (“Proprietary Materials”) to which you may have access or that you may develop or conceive while employed by the Company will be considered works made for hire for the Company and prepared within the scope of employment and will belong exclusively to the Company.  Any Proprietary Materials developed by you that, under applicable law, may not be considered works made for hire, are hereby assigned to the Company without the need for any further consideration, and you agree to take such further action, including executing such instruments and documents as the Company may reasonably request, to evidence such assignment.

Mr. Fred Gehring
July 31, 2015
Page 8

17.Assignment and Successors.  This Agreement will inure to the benefit of and be binding upon the parties hereto and their respective heirs, legatees, executors, administrators, legal representatives, successors and assigns.  Notwithstanding anything in the foregoing to the contrary, you may not assign any of your rights or obligations under this Agreement without first obtaining the written consent of the Company.  The Company may assign this Agreement in connection with a sale of all or substantially all of its business and/or assets (whether direct or indirect, by purchase, merger, consolidation or otherwise) and will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. “Company” means the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid that assumes and agrees to perform this Agreement by operation of law or otherwise.

18.Survival.  The provisions of Paragraphs 8 through 30 will survive any termination of this Agreement pursuant to Paragraphs 8 or 9.

19.Notices.  Any notices to be given hereunder will be in writing and delivered personally or sent by registered or certified mail, return receipt requested, postage prepaid as follows:

a.    If to you, addressed to you at the address then shown in you employment records.

b.    If to the Company at:

PVH Corp. 
200 Madison Avenue 
New York, New York 10016 
Attention:  Chairman 

With a copy to: 

PVH Corp.
200 Madison Avenue 
New York, New York 10016 
Attention:  Executive Vice President, General Counsel

Any party may change the address to which notices are to be sent by giving notice of such change of address to the other party in the manner provided above for giving notice.

20.Governing Law.  This Agreement will be governed by, and construed and enforced in accordance with, the laws of The Netherlands, without regard to the principles thereof relating to the conflict of laws.

21.Consent to Jurisdiction.  Any judicial proceeding brought against you with respect to this Agreement may be brought in any court of competent jurisdiction in Amsterdam, The 

Mr. Fred Gehring
July 31, 2015
Page 9

Netherlands and, by execution and delivery of this Agreement, you (i) accept, generally and unconditionally, the nonexclusive jurisdiction of such courts and any related appellate courts, and irrevocably agrees to be bound by any final judgment (after exhausting all appeals therefrom or after all time periods for such appeals have expired) rendered thereby in connection with this Agreement, and (ii) irrevocably waive any objection you may now or hereafter have as to the venue of any such suit, action or proceeding brought in such a court or that such court is an inconvenient forum.

22.Severability.  The invalidity of any one or more provisions of this Agreement or any part thereof will not affect the validity of any other provision of this Agreement or part thereof; and in the event that one or more provisions contained herein will be held to be invalid, the Agreement will be reformed to make such provisions enforceable. 

23.Waiver.  The Company, in its sole discretion, may waive any of the requirements imposed on you by this Agreement.  The Company, however, reserves the right to deny any similar waiver in the future.  Each such waiver must be express and in writing and there will be no waiver by conduct.  Pursuit by the Company of any available remedy, either in law or equity, or any action of any kind, does not constitute waiver of any other remedy or action. Such remedies and actions are cumulative and not exclusive.  Your or the Company’s failure to insist upon strict compliance with any provision of this Agreement or the failure to assert any right you or the Company may have hereunder will not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement.

24.Indemnification.  You will be entitled to indemnification (and the advancement of expenses) in connection with a litigation or proceeding arising out of your acting as Vice Chairman, PVH Corp. or an employee, officer or director of the Company to the maximum extent permitted by applicable law; provided, however, that in the event that it is finally determined that you are not entitled to indemnification, you will promptly return any advanced amounts to the Company.

25.Legal Fees.  The Company agrees to reimburse you (within 10 days following the Company’s receipt of an invoice from you) to the fullest extent permitted by law, for all legal fees and expenses that you may reasonably incur as a result of any contest by the Company, you or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by you about the amount of any payment pursuant to this Agreement), provided that you prevail with respect to at least one substantive issue in dispute.

26.Construction.  The paragraph headings contained in this Agreement are for reference purposes only and will not in any way affect the meaning or interpretation of this Agreement.  This Agreement shall be construed without regard to any presumption or other rule requiring construction against the drafting party.

27.Withholding.  Any payments provided for herein will be reduced by any amounts required to be withheld by the Company from time to time under applicable Federal, State or local employment or income tax laws or similar statutes or other provisions of law then in effect.

Mr. Fred Gehring
July 31, 2015
Page 10

28.Section 409A of the Code.  The following provisions of this Paragraph 28 will be applicable only if you are a taxpayer who is covered by Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and any related regulations or other effective guidance promulgated thereunder (collectively, “Section 409A”).  To the extent applicable, the provisions of this Agreement and any payments made herein are intended to comply with, and should be interpreted consistent with, the requirements of Section 409A.  The time or schedule of a payment to which you are entitled under this Agreement may be accelerated at any time that this Agreement fails to meet the requirements of Section 409A and any such payment will be limited to the amount required to be included in your income as a result of the failure to comply with Section 409A.  If an amendment of the Agreement is necessary in order for it to comply with Section 409A, the parties hereto will negotiate in good faith to amend the Agreement in a manner that preserves the original intent of the parties to the extent reasonably possible.  Notwithstanding any provision in this Agreement to the contrary, if you are a “specified employee” (as determined under the Company’s policy for identifying specified employees) on the date of your “separation from service” (within the meaning of Section 409A), then with regard to any payment or benefit that is considered “deferred compensation” under Section 409A payable on account of a “separation from service” that is required to be delayed pursuant to Section 409A(a)(2)(B) of the Code (after taking into account any applicable exceptions to such requirement), such payment or benefit will not be paid or commence to be paid on any date prior to the first business day after the date that is six months following your separation from service. The first payment that can be made will include the cumulative amount of any amounts that could not be paid during such six-month period.  In addition, interest will accrue at the 10-year T-bill rate (as in effect as of the first business day of the calendar year in which the separation from service occurs) on all payments not paid to you prior to the first business day after the six-month anniversary of your separation from service that otherwise would have been paid during such six-month period had this delay provision not applied to you and will be paid with the first payment after such six-month period.  Notwithstanding the foregoing, a payment delayed pursuant to the preceding three sentences will commence earlier in the event of your death prior to the end of the six-month period.  Notwithstanding any provision in this Agreement to the contrary, for purposes of any provision of this Agreement providing for the payment of any amounts or benefits upon or following a termination of employment that are considered “deferred compensation” under Section 409A, references to your “termination of employment” (and corollary terms) with the Company will be construed to refer to your “separation from service” (within the meaning of Treas. Reg. Section 1.409A-1 (h)) with the Company.  With respect to any reimbursement or in-kind benefit arrangements of the Company that constitute “deferred compensation” for purposes of Section 409A, except as otherwise permitted by Section 409A, the following conditions will be applicable: (i) the amount eligible for reimbursement, or in-kind benefits provided, under any such arrangement in one calendar year may not affect the amount eligible for reimbursement, or in-kind benefits to be provided, under such arrangement in any other calendar year (except that the health and dental plans may impose a limit on the amount that may be reimbursed or paid), (ii) any reimbursement must be made on or before the last day of the calendar year following the calendar year in which the expense was incurred, and (iii) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.  Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment will be made within 30 days after termination of employment”), the actual date of payment within the specified period will be within the sole discretion of the Company.  

Mr. Fred Gehring
July 31, 2015
Page 11

Whenever payments under this Agreement are to be made in installments, each such installment will be deemed to be a separate payment for purposes of Section 409A.

29.Entire Agreement.  This Agreement contains the entire understanding, and cancels and supersedes all prior agreements, including, without limitation, the Prior Agreement, and any agreement in principle or oral statement, letter of intent, statement of understanding or guidelines of the parties hereto with respect to the subject matter hereof, excluding the Stock Plans or the plans referred to in Paragraph 5, as well as all other then-existing agreements and arrangements related to stock and stock options, the terms and conditions of which will not be affected hereby.  This Agreement may be amended, supplemented or otherwise modified only by a written document executed by each of the parties hereto or their respective successors or assigns, provided that the Company will have the right to amend this Agreement unilaterally within the scope of section 7:613 of the Dutch Civil Code.  You acknowledge that you are entering into this Agreement of your own free will and accord with no duress, that you have been provided with the opportunity to consult with legal counsel and other advisors, and that you have read this Agreement and understand it and its legal consequences.

30.Counterparts.  This Agreement may be executed in two or more counterparts, each of which will be deemed an original but all of which together will constitute one and the same instrument.

Please acknowledge your understanding of and agreement to the foregoing by signing this Agreement in the space provided below.

Sincerely,

PVH B.V.

By                            
Name:
Title:

By                            
Name:
Title:

ACKNOWLEDGED AND AGREED: 
 
 
     
Fred Gehring

Mr. Fred Gehring
July 31, 2015
Page 12

EXHIBIT A

Competitive Business Entities

VF Corporation
Polo Ralph Lauren
Liz Claiborne
Jones Apparel
Perry Ellis
Oxford
Kenneth Cole
Hugo Boss
Guess
DKNY- Donna Karan
Diesel
G-Star
Pepe Jeans
Gant
Lacoste
J Brand
Scotch & SodaEX-4.2

 Exhibit 4.2 

Execution Copy 

SHAREHOLDERS AGREEMENT 
 This
Shareholders Agreement dated as of February 25, 2011 (the “Agreement”) by and among Wescom Inc., a corporation incorporated under the laws of the Province of Ontario, Canada (the “Company”), the Investors
listed on Schedule I hereto (the “Investors”) and certain holders of shares of capital stock of the Company set forth on Schedule II hereto and any other parties who execute an Instrument of Adherence to this Agreement
(collectively, the “Shareholders”; and together with the Investors, the “Security Holders”). This Agreement shall become effective (the “Effective Time”) upon consummation of the Amalgamation of PCC
Acquisition Corporation (the “Purchaser”) and the Company pursuant to the Articles of Amalgamation dated as of the date hereof (the “Amalgamation”). 

W I T N E S S E T H: 
 WHEREAS,
the Shareholders are holders of shares of capital stock of the Company; 
 WHEREAS, the Purchaser acquired 2,255,062 Class A Preferred
Shares (the “Class A Preferred Shares”), 2,529,627 Common Shares (the “Common Shares”) and 2,529,627 Class B Special Shares (the “Special Shares”) of the Company pursuant to the Class A
Preferred Share Purchase Agreement dated as of the date hereof among the Company, the Purchaser, the Investors and certain of the Shareholders (the “Purchase Agreement”); 

WHEREAS, it is a condition to the obligations of the Purchaser and the Investors under the Purchase Agreement that this Agreement be executed
by the parties hereto, and the parties hereto are willing to execute this Agreement and to be bound by the provisions hereof; and 

WHEREAS, pursuant to the Amalgamation, as of the Effective Time, the Investors will be the holders of 4,784,689 Class A Preferred Shares.

 NOW, THEREFORE, in consideration of these premises and the mutual covenants and agreements contained herein, the parties hereto agree as
follows: 
 ARTICLE I 

DEFINITIONS 
 1.1
Certain Defined Terms. As used in this Agreement, the following terms shall have the following respective meanings: 

“Affiliate” shall mean, with respect to any Person, any other Person, directly or indirectly, controlling, controlled by or
under common control with such Person; provided that, in the case of any Investor, the term “Affiliate” shall not include any portfolio company of such Investor. 

“Articles” shall mean the Company’s articles of amalgamation, as of the Effective Time (as amended and in effect). 

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 “Business Day” shall mean any day other than Saturday, Sunday, and any
recognized holidays in the Province of Ontario. 
 “Common Shares” shall mean Common Shares (as defined in the Articles),
as constituted as of the Effective Time. 
 “Initial Public Offering” shall mean the initial underwritten public offering
of Common Shares pursuant to a Registration Statement. 
 “Person” or “Persons” shall mean an individual,
corporation, partnership, joint venture, trust, or unincorporated organization, or a government or any agency or political subdivision thereof. 

“Registration Statement” shall mean (a) any effective registration statement filed by the Company with the Commission
for a public offering and sale of securities of the Company (other than a registration statement on Form S-8 or Form S-4, or their successors, or any form for a similar limited purpose, or any registration statement covering only securities proposed
to be issued in exchange for securities or assets of another corporation) or (b) a (final) prospectus filed by the Company under the Securities Act (Ontario), as amended, in a public offering and sale of securities of the Company. 

“Sale Event” means (a) the sale to any person (or group of related persons) of securities representing a majority of the
combined voting power of the then issued and outstanding capital stock of the Company, (b) a merger, consolidation, amalgamation, share exchange or other business combination involving the Company and any person (or group of related persons) in
which the Security Holders receive consideration in respect of securities of the Company representing a majority of the combined voting power of the then issued and outstanding capital stock of the Company, or (c) a sale of all or substantially
all of the assets of the Company to any person (or group of related persons). 
 “Shares” shall mean and include all shares
of capital stock of the Company, including the Common Shares, Class A Preferred Shares, Class A Special Shares and Class B Special Shares, and all other securities of the Company which may be issued upon conversion or exercise of, in
exchange for, or in respect of, Common Shares, Class A Preferred Shares, Class A Special Shares and Class B Special Shares, or other capital stock of the Company (whether by way of stock split, stock dividend, combination,
reclassification, reorganization, or any other means), now owned or hereafter acquired by any Security Holder. For purposes of this Agreement, all of the securities of the Company that a Security Holder has a right to acquire from the Company upon
the conversion, exercise or exchange of any of the securities of the Company, including options to purchase Common Shares, then owned by such Security Holder shall be deemed to be Shares then owned by such Security Holder. 

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 ARTICLE II 

THE BOARD OF DIRECTORS; ELECTIONS 

2.1 Number of Directors. Subject to the provisions of the Articles, the number of directors constituting the entire Board of Directors
of the Company (the “Board”) shall be no more than five (5). In addition to any other approval required by law or the Articles, the number of directors of the Company shall not be changed without the consent of the holders of a
majority of the outstanding Class A Preferred Shares, voting separately as a class. 
 2.2 Election of Directors. At any time at
which shareholders of the Company will have the right to, or will vote for or consent in writing to, elect directors of the Company, then, and in each such event, each of the Security Holders shall vote (or, if applicable, consent with respect to)
all Shares or other voting securities of the Company presently owned or hereafter acquired by them (whether owned of record or over which any such Security Holder exercises voting control) in favor of the following actions: 

(a) to cause and maintain the election to the Board one (1) person designated by the holders of a majority of the issued and Class A
Preferred Shares (the “Preferred Director”) (who shall initially be Harry Gruner), which Preferred Director shall be elected by the holders of a majority of the outstanding Class A Preferred Shares, voting separately as a
class; 
 (b) to cause and maintain the election to the Board three (3) persons designated by the holders of a majority of the issued
and outstanding Common Shares (the “Common Directors”) (who shall initially be Michael Wessinger, David Wessinger and William Dillane), which Common Directors shall be shall be elected by the holders of a majority of the outstanding
Common Shares, voting separately as a class; and 
 (c) to cause and maintain the election to the Board one (1) person, who is not an
employee of the Company or any subsidiary thereof or otherwise affiliated with the Company (the “Independent Director”), which Independent Director shall be elected by the holders of a majority of the outstanding Class A
Preferred Shares, voting as a separate class, and the holders of a majority of the outstanding Common Shares, voting as a separate class. 

2.3 Vacancies and Removal. 

(a) Preferred Director. The Preferred Director shall serve until his or her successor is elected and qualified or until his or her
earlier resignation or removal. The Preferred Director may be removed during his or her term of office, with or without cause, only with the affirmative vote or written consent of the holders of a majority of the outstanding shares of Class A
Preferred Shares, voting as a separate class. Any vacancy in the office of a Preferred Director may be filled only with the vote or written consent of the holders of a majority of the outstanding Class A Preferred Shares, voting as a separate
class, and in each case in accordance with the requirements of this Agreement for designation of the Preferred Director. 
 (b) Common
Directors. Each Common Director shall serve until his or her successor is elected and qualified or until his or her earlier resignation or removal. A Common 

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Director may be removed during his or her term of office, with or without cause, only with the affirmative vote or written consent of the holders of a majority of the outstanding Common Shares,
voting as a separate class. Any vacancy in the office of a Common Director may be filled only with the vote or written consent of the holders of a majority of the outstanding Common Shares, voting as a separate class, and in each case in accordance
with the requirements of this Agreement for designation of the Common Directors. 
 (c) Independent Director. The Independent
Director shall serve until his or her successor is elected and qualified or until his or her earlier resignation or removal. The Independent Director may be removed during his or her term of office, with or without cause, only with the written
consent of either the holders of a majority of the outstanding Class A Preferred Shares, voting as a separate class, or the holders of a majority of the outstanding Common Shares, voting as a separate class. Any vacancy in the office of an
Independent Director may be filled only with the vote or written consent of the holders of a majority of the outstanding Class A Preferred Shares, voting as a separate class, and the holders of a majority of the outstanding Common Shares,
voting as a separate class. 
 2.4 Attendance at Meetings; Expenses. 

(a) Attendance at Meetings. Each of the Security Holders shall attend (in person or by proxy), and vote such Security Holder’s
shares of the capital stock of the Company in accordance with this Agreement at, each annual meeting of the shareholders of the Company and each special meeting of the shareholders of the Company involving the election of directors of the Company.

 (b) Expenses. The Company will reimburse its non-employee directors for all reasonable costs incurred on behalf of the Company,
including but not limited to costs incurred in connection with attending the meetings of the Board or any committee of the Board, consistent with the Company’s travel policies. 

2.5 Committees of the Board of Directors. Upon the written request of the holders of a majority of the outstanding Class A
Preferred Shares, the Board shall establish (a) a Compensation Committee (which shall be charged with the non-exclusive authority over recommendations of granting of stock options and compensation), and/or (b) an Audit Committee (which
shall be charged with reviewing the Company’s financial statements and accounting practices). The Board may also establish such other committees as the Board shall deem necessary or convenient from time to time. Except to the extent otherwise
required by applicable law or regulation, each committee shall include the Preferred Director. 
 2.6 No Liability for Election of
Recommended Directors. No person, nor any Affiliate of any person, shall have any liability as a result of designating an individual for election as a director for any act or omission by such designated individual in his or her capacity as a
director of the Company, nor shall any person have any liability as a result of voting for any such designee in accordance with the provisions of this Agreement. 

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 ARTICLE III 

TRANSFERS 
 3.1 Prohibited
Transfers. No Security Holder shall sell, assign, transfer, pledge, hypothecate, mortgage, encumber or dispose of (collectively, a “Transfer”) any or all of such Security Holder’s Shares except (a) pursuant to a bona
fide written offer from a person or entity (the “Proposed Transferee”) for consideration consisting solely of cash and (b) otherwise in full compliance with such Security Holder’s obligations under this Article III.
The Company shall not record the Transfer on its books of any Shares that are subject to this Agreement, unless the provisions hereof have been complied with in full. Any purported Transfer by a Security Holder of Shares without full compliance with
the provisions of this Agreement shall be null and void. 
 3.2 Right of First Refusal on Dispositions of Shareholder’s Shares.

 (a) Offer by a Shareholder. If at any time any Shareholder desires to Transfer all or any portion of such Shareholder’s
Shares pursuant to a written bona fide offer from the Proposed Transferee, such transferring Shareholder shall, within five (5) Business Days after the Proposed Transferee has delivered the offer to such transferring Shareholder, submit a
written offer (the “Shareholder Offer”) to sell such Shares (the “Shareholder Offered Shares”) to the Company and the other Security Holders on terms and conditions (including price) not less favorable to the
Company and the other Security Holders than those on which the transferring Shareholder proposes to sell such Shareholder Offered Shares to the Proposed Transferee. The Shareholder Offer shall disclose in reasonable detail the identity of the
Proposed Transferee, the number and type of Shareholder Offered Shares proposed to be sold, the total number of Shares owned by such transferring Shareholder, the terms and conditions (including price) of the proposed sale, and any other material
facts relating to the proposed sale, and shall be accompanied by a copy of the Proposed Transferee’s written offer. The Shareholder Offer shall further state that the Company and the other Security Holders may acquire, in accordance with the
provisions of this Agreement, all, but not less than all, of the Shareholder Offered Shares for the price and upon the other terms and conditions, including deferred payment (if applicable), set forth therein. 

(b) Company Notice of Intent to Purchase. If the Company desires to purchase all or any part of the Shareholder Offered Shares, the
Company shall communicate in writing its election to purchase to the transferring Shareholder and each other Security Holder, which communication shall state the number of Shareholder Offered Shares the Company desires to purchase and shall be
delivered in person or mailed to the transferring Shareholder and each other Security Holder within twenty (20) days of the date of the Shareholder Offer. Subject to Section 3.2(g) below, such communication shall, when taken in
conjunction with the Shareholder Offer, be deemed to constitute a valid, binding and enforceable agreement for the sale and purchase of the Shareholder Offered Shares. 

(c) Security Holder’s Right of First Refusal. If, within twenty (20) days of its receipt of the Shareholder Offer, the
Company fails to deliver written notice to the transferring Shareholder and each other Security Holder of its intention to purchase all of the Shareholder Offered Shares (the Shareholder Offered Shares which the Company does not elect to purchase

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being referred to as the “Shareholder Refused Shares”), then, subject to Section 3.2(g) below, each other Security Holder shall have the right to purchase up to that
number of Shareholder Refused Shares as shall be equal to the number of Shareholder Refused Shares multiplied by a fraction, the numerator of which shall be the number of Common Shares (calculated on an as-converted basis) then owned by such
Security Holder, and the denominator of which shall be the aggregate number of Common Shares (calculated on an as-converted basis) then owned by all Security Holders. The amount of Shareholder Refused Shares that each other Security Holder is
entitled to purchase under this Section 3.2 shall be referred to as its “Shareholder Pro Rata Fraction.” 
 (d)
Oversubscription Rights. The Security Holders shall have a right of oversubscription such that if any Security Holder declines to purchase its Shareholder Pro Rata Fraction, the other Security Holders shall, among them, subject to
Section 3.2(g) below, have the right to purchase up to the balance of the Shareholder Refused Shares not so purchased. Such right of oversubscription may be exercised by a Security Holder by accepting the offer of the Shareholder Refused
Shares as to more than its Shareholder Pro Rata Fraction in accordance with Section 3.2(e) below. If, as a result thereof, such oversubscriptions exceed the total number of Shareholder Refused Shares available in respect of such
oversubscription privilege, the oversubscribing Security Holders shall be reduced with respect to their oversubscriptions on a pro rata basis in accordance with their respective Shareholder Pro Rata Fractions or as they may otherwise agree among
themselves. 
 (e) Security Holder Notice of Intent to Purchase. If a Security Holder desires to purchase all or any part of the
Shareholder Refused Shares, such Security Holder shall communicate in writing its election to purchase to the transferring Shareholder, which communication shall state the number of Shareholder Refused Shares the Security Holder desires to purchase
and shall be delivered in person or mailed to the transferring Shareholder within forty (40) days of the date of the Shareholder Offer. Subject to Section 3.2(g) below, such communication shall, when taken in conjunction with the
Shareholder Offer, be deemed to constitute a valid, binding and enforceable agreement for the sale and purchase of such Shareholder Refused Shares (subject to the aforesaid limitations as to a Security Holder’s right to purchase more than such
Security Holder’s Shareholder Pro Rata Fraction). 
 (f) Closing. Sales of the Shareholder Offered Shares to be sold to the
Company or Shareholder Refused Shares to be sold to the participating Security Holders pursuant to this Section 3.2 shall be made at the offices of the Company within sixty (60) days after the date of the Shareholder Offer. Such
sales shall be effected by the transferring Shareholder’s delivery to the Company or participating Security Holders(s) of a certificate or certificates evidencing the Shareholder Offered Shares or Shareholder Refused Shares, as the case may be,
to be purchased by it, duly endorsed for transfer to the Company or participating Security Holder(s), as the case may be, against payment to the transferring Shareholder of the purchase price therefor by the Company or said participating Security
Holder(s), as the case may be. 
 (g) Sale to Third Party. If all of the Shareholder Offered Shares are not purchased by the Company
and the other Security Holders, collectively, within the time frame 

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specified in this Section 3.2, all of the Shareholder Offered Shares may be sold by the transferring Shareholder to the Proposed Transferee at any time within ninety (90) days
after the date the Shareholder Offer was made to the Company and the other Security Holders, subject to full compliance with the other provisions of this Article III. Any such sale shall be to the Proposed Transferee, at the price and upon
other terms and conditions, if any, as those specified in the Shareholder Offer. Any Shareholder Offered Shares not sold within such ninety (90)-day period shall continue to be subject to the requirements of a prior offer pursuant to this
Section 3.2. If Shareholder Refused Shares are sold pursuant to this Section 3.2 to an Investor or affiliate thereof, in such case only, the Shareholder Refused Shares so sold to such Investor shall only be subject to the
restrictions imposed by this Agreement to the extent that other Shares owned by such Investor are subject to the restrictions imposed by this Agreement. 

(h) Certain Sales Excluded. The Company’s and Security Holders’ right of refusal provided in this Section 3.2
shall not apply with respect to (i) sales of Shares to the Company, (ii) sales by a Founder pursuant to his co-sale rights under Section 3.5 below or (iii) sales of Shares in a Sale Event. 

3.3 Right of First Offer on Dispositions of Investor’s Shares. 

(a) Offer by an Investor. If at any time any Investor desires to Transfer all or any portion of such Investor’s Shares, such
transferring Investor shall submit a written offer (the “Investor Offer”) to sell such Shares (the “Investor Offered Shares”) to the Company and Michael Wessinger and David Wessinger (collectively the
“Founders” or individually a “Founder”) pursuant to the terms and conditions set forth in this Section 3.3. For the purposes of this Article III, the term “Founders” shall be deemed to
include any Affiliates of a Founder (which, for the avoidance of doubt, shall include any trust in which the trustees consist solely of Founders or the beneficiaries of such trust include only the Founders, their immediate family members or a
corporation controlled by any of the foregoing) and each Founder shall have the discretion to allocate any Investor Offered Shares acquired pursuant to this Section 3.3 amongst such Affiliates. The Investor Offer shall disclose the
number and type of Investor Offered Shares proposed to be sold and the terms and conditions (including price) of the proposed sale. The Investor Offer shall further state that the Company and the Founders may acquire, in accordance with the
provisions of this Agreement, all but not less than all of the Investor Offered Shares for the price and upon the other terms and conditions set forth therein. The Investors, in the aggregate, may not submit more than two (2) Investor Offers in
any twelve (12) month period. 
 (b) Company Notice of Intent to Purchase. If the Company desires to purchase all or any part of
the Investor Offered Shares, the Company shall communicate in writing its election to purchase to the transferring Investor and each of the Founders, which communication shall state the number of Investor Offered Shares the Company desires to
purchase and shall be delivered in person or mailed to the transferring Investor and each of the Founders within twenty (20) days of the date of the Investor Offer. Subject to Section 3.3(g) below, such communication shall, when
taken in conjunction with the Investor Offer, be deemed to constitute a valid, binding and enforceable agreement for the sale and purchase of the Investor Offered Shares. 

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 (c) Founders’ Secondary Right of First Offer. If, within twenty (20) days of
its receipt of the Investor Offer, the Company fails to deliver written notice to the transferring Investor and each of the Founders of its intention to purchase all of the Investor Offered Shares (the Investor Offered Shares which the Company does
not elect to purchase being referred to as the “Investor Refused Shares”), each of the Founders shall have, subject to Section 3.3(g) below, the right to purchase that number of Investor Refused Shares as shall be equal
to the number of Investor Refused Shares multiplied by a fraction, the numerator of which shall be the number of Common Shares (calculated on an as-converted basis) then owned by such Founder, and the denominator of which shall be the aggregate
number of Common Shares (calculated on an as-converted basis) then owned by all of the Founders. The amount of Investor Refused Shares that each of the Founders is entitled to purchase under this Section 3.3 shall be referred to as its
“Investor Pro Rata Fraction.” 
 (d) Oversubscription Rights. The Founders shall have a right of oversubscription
such that if any Founder declines to purchase its Investor Pro Rata Fraction, the other Founder shall have the right, subject to Section 3.3(g) below, to purchase up to the balance of the Investor Refused Shares not so purchased. Such
right of oversubscription may be exercised by a Founder by accepting the offer of the Investor Refused Shares as to more than its Investor Pro Rata Fraction in accordance with Section 3.3(e) below. 

(e) Security Holder Notice of Intent to Purchase. If a Founder desires to purchase all or any part of the Investor Refused Shares, such
Founder shall communicate in writing its election to purchase to the transferring Investor, which communication shall state the number of Investor Refused Shares the Founder desires to purchase and shall be delivered in person or mailed to the
transferring Investor within forty (40) days of the date of the Investor Offer. Subject to Section 3.3(g) below, such communication shall, when taken in conjunction with the Investor Offer, be deemed to constitute a valid, binding
and enforceable agreement for the sale and purchase of such Investor Refused Shares (subject to the aforesaid limitations as to a Founder’s right to purchase more than such Founder’s Investor Pro Rata Fraction). 

(f) Closing. Sales of the Investor Offered Shares to be sold to the Company or Investor Refused Shares to be sold to the participating
Founders pursuant to this Section 3.3 shall be made at the offices of the Company within sixty (60) days after the date of the Investor Offer. Such sales shall be effected by the transferring Investor’s delivery to the Company
or participating Founder(s) of a certificate or certificates evidencing the Investor Offered Shares or Investor Refused Shares, as the case may be, to be purchased by it, duly endorsed for transfer to the Company or participating Founder(s), as the
case may be, against payment to the transferring Investor of the purchase price therefor by the Company or said participating Founder(s), as the case may be. 

(g) Sale to Third Party. If all of the Investor Offered Shares are not purchased by the Company and the Founders, collectively, within
the time frame specified in this Section 3.3, all of the Investor Offered Shares may be sold by the transferring Investor at any time within one hundred twenty (120) days after the date the Investor Offer was made to the Company and
the Founders, subject to full compliance with the other provisions of this Article III. Any such sale shall be at a price not less than the price stated in the Investor Offer and shall be upon other

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terms and conditions, if any, not materially more favorable to the buyer(s), in the aggregate, as those specified in the Investor Offer. Any Investor Offered Shares not sold within such one
hundred twenty (120) day period shall continue to be subject to the requirements of a prior offer pursuant to this Section 3.3. 

(h) Certain Sales Excluded. The Company’s and Founders’ right of offer provided in this Section 3.3 shall not
apply with respect to (i) sales of Shares to the Company, (ii) sales of Shares by an Investor pursuant to its co-sale rights under Section 3.4 below or (iii) sales of Shares in a Sale Event. 

3.4 Right of Participation in Sales by Shareholders. 

(a) Co-Sale Right of Investors. Subject to Section 3.2 above, if at any time a Shareholder proposes to Transfer any Shares
(the “Co-Sale Shares”) to a Proposed Transferee other than the Company (a “Buyer”), each of the Investors shall have the right to sell to such Buyer, as a condition to such sale by such Shareholder, at the same
price per share and on the same terms and conditions as involved in such sale by such Shareholder (as stated in the Shareholder Offer provided under Section 3.2(a)), such number of shares equal to the Co-Sale Shares multiplied by a
fraction, the numerator of which is the aggregate number of Common Shares (calculated on an as-converted basis) owned by the particular Investor desiring to sell Shares to such Buyer, and the denominator of which is the sum of all Common Shares
(calculated on an as-converted basis) owned by all Investors desiring to participate in a sale to such Buyer under this Section 3.4 plus all Common Shares (calculated on an as-converted basis) owned by such Shareholder. 

(b) Notice of Intent to Participate. Each Investor wishing to participate in any Transfer under this Section 3.4 shall
notify in writing the Shareholder transferring hereunder of such intention as soon as practicable after such Investor’s receipt of the Shareholder Offer made pursuant to Section 3.2(a), and in any event within sixty (60) days
after the date such Shareholder Offer was made. 
 (c) Sale to a Proposed Transferee. The Shareholder selling hereunder and each
participating Investor shall sell to the Buyer all, or at the option of the Buyer, any part of the shares proposed to be sold by them at the price and upon such other terms and conditions, if any, as those in the Shareholder Offer provided by such
Shareholder under Section 3.2(a); provided, however, that any purchase of less than all of such shares by the Buyer shall be deducted from the number of shares offered to be sold by such Shareholder and each participating
Investor pro rata based upon the applicable number of Co-Sale Shares desired to be sold by the Shareholder and the number of shares that each participating Investor is entitled to sell pursuant to Section 3.4(a). 

(d) Prohibited Transfers. In the event of any Transfer of any shares or other securities of the Company by a Shareholder in violation
of any provision of Section 3.4, each Investor shall have the right to elect to cause such Shareholder to purchase, and such Shareholder shall be obligated to purchase, from such Investor, at the same price per share and on the same
terms and conditions as involved in such sale by the Shareholder, such number of Shares 

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(calculated on an as-converted basis) equal to the number of Shares sold by such Shareholder multiplied by a fraction, the numerator of which is the aggregate number of Common Shares owned by any
particular Investor desiring to sell Shares to such Shareholder under this Section 3.4 (calculated on an as-converted basis) and the denominator of which is the sum of all Common Shares owned by all Investors desiring to sell Shares to
such Shareholder under this Section 3.4 (calculated on an as-converted basis) plus the number of Common Shares (calculated on an as-converted basis) owned by such Shareholder immediately prior to such Transfer. 

3.5 Right of Participation in Sales by Investors. 

(a) Co-Sale Right of Founders. Subject to Section 3.3 above, if at any time an Investor proposes to Transfer any Shares
(“Investor Co-Sale Shares”) to a Buyer, such Investor shall, in each case, submit a written notice, which shall set forth the number and type of Investor Co-Sales Shares proposed to be sold to such Buyer and the terms and conditions
(including price) of the proposed sale (the “Co-Sale Notice”), to each of the Founders, which shall have the right to sell to such Buyer, as a condition to such sale by such Investor, at the same price per share and on the same
terms and conditions as set forth in the Co-Sale Notice, such number of shares equal to the Investor Co-Sale Shares multiplied by a fraction, the numerator of which is the aggregate number of Shares (calculated on an as-converted basis) owned by the
respective Founder desiring to sell Shares to such Buyer, and the denominator of which is the sum of all Shares (calculated on an as-converted basis) owned by all Founders desiring to participate in a sale to such Buyer under this
Section 3.5 plus the number of Common Shares (calculated on an as-converted basis) owned by such Investor. 
 (b) Notice of
Intent to Participate. Each Founder wishing to participate in any Transfer under this Section 3.5 shall notify in writing the Investor transferring hereunder of such intention as soon as practicable after such Founder’s receipt
of the Co-Sale Notice and in any event within twenty (20) days of such receipt. 
 (c) Sale to a Proposed Transferee. The
Investor selling hereunder and each participating Founder shall sell to the Buyer all, or at the option of the Buyer, any part of the Shares proposed to be sold by them at the price and upon such other terms and conditions, if any, as those in the
Co-Sale Notice; provided, however, that any purchase of less than all of such shares by the Buyer shall be deducted from the number of Shares offered to be sold by such Investor and each participating Founder pro rata based upon the
applicable number of Investor Co-Sale Shares desired to be sold by the Founder and the number of shares that each participating Founder is entitled to sell pursuant to Section 3.5(a). 

(d) Prohibited Transfers. In the event of any Transfer of any shares or other securities of the Company by an Investor in violation of
any provision of Section 3.5, each Founder shall have the right to elect to cause such Investor to purchase, and such Investor shall be obligated to purchase, from such Founder, at the same price per share and on the same terms and
conditions as involved in such sale by the Investor, such number of Shares (calculated on an as-converted to basis) equal to the number of Shares sold by such Investor multiplied by a fraction, the numerator of which is the aggregate number of
Shares owned by any particular Founder desiring to sell Shares to such Investor under this Section 3.5 (calculated on an 

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as-converted basis) and the denominator of which is the sum of all Shares owned by all Founders desiring to sell shares to such Investor under this Section 3.5 (calculated on an
as-converted basis) plus the number of Common Shares (calculated on an as-converted basis) owned by such Investor immediately prior to such Transfer. 

3.6 Instrument of Adherence. Except as otherwise provided herein, no Security Holder shall Transfer any Shares to any Person not
otherwise a party hereto who does not first execute the Instrument of Adherence substantially in the form attached hereto as Annex I (an “Instrument of Adherence”) as a “Shareholder” (if such transferring Security
Holder is a Shareholder) or “Investor” (if such transferring Security Holder is an Investor); provided that, if such Person is a Buyer pursuant to Section 3.4 or 3.5, such Person shall be a “Shareholder” or
“Investor,” respectively. If any Transfer of Shares is attempted contrary to the provisions of this Agreement, the Company shall have the right to: (i) purchase such Shares from the transferring Security Holder or the purported
transferee; (ii) obtain a temporary and/or permanent injunction restraining such Transfer (no bond or other security shall be required in connection with such action); or (iii) refuse to recognize any purported transferee as a Security
Holder and may continue to treat the transferor as a Security Holder for all purposes, including, without limitation, for purposes of dividend and voting rights, until all applicable provisions of this Agreement have been complied with. The remedies
provided herein are cumulative and not exclusive of any other remedies provided by law. 
 3.7 Prohibition on Transfers of Shares to
Competitors. No Security Holder may at any time transfer any Shares to any person or entity that engages in any business activity that is in competition, directly or indirectly, with the products or services being developed, offered, marketed,
sold or licensed by the Company. The determination of whether any proposed transferee engages in any business activity that is in competition with those of the Company shall be made by the Board in good faith. This prohibition shall be applicable in
addition to and separately from the other provisions hereof. 
 3.8 Drag-Along Rights. 

(a) If at any time (i) the holders of a majority of the issued and outstanding Class A Preferred Shares and (ii) the holders of
a majority of the issued and outstanding Common Shares (together with the holders described in immediately preceding clause (i), the “Initiating Holders”), propose to effect (or to cause the Company to effect) a Sale Event, the
Initiating Holders may deliver a notice (a “Sale Event Notice”) to all of the other Security Holders stating that the Initiating Holders propose to effect (or to cause the Company to effect) such transaction (the “Sale Event
Notice Transaction”), and specifying the name and address of the proposed parties to such transaction and the consideration payable in connection therewith. Upon receipt of a Sale Event Notice, each Security Holder shall be obligated to
Transfer all Shares owned by it in such Sale Event (or, in the case of such a Sale Event involving a sale of less than all of the outstanding Shares, a percentage of the Shares owned by it equal to the percentage of the Initiating Holders’
Shares being sold by the Initiating Holders), for a price and, subject to Section 3.8(c) below, on other terms and conditions not less favorable to the Security Holder than to the Initiating Holders; provided, however, that
the price may be different for each of the Company’s classes of stock to the extent that such difference is consistent with the liquidation 

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preferences of such classes of stock set forth in the Articles; provided further, however, that, with respect to any Shares for which a Security Holder holds unexercised stock
options or other convertible security with an associated exercise price, the price per such Share shall be reduced by the exercise price of such security or, if required pursuant to the terms of such security, such Security Holder shall pay the
exercise price therefor prior to the closing of the Sale Event Notice Transaction, and shall transfer Common Shares in the Sale Event Notice Transaction; provided further, however, that no Security Holder shall be entitled to
participate in any rollover or re-investment arrangement in connection with such Sale Event. In addition to selling its Shares, each Security Holder shall take all other necessary action to cause the Company
to consummate the proposed Sale Event, including, to the extent necessary, voting all such Security Holder’s Shares in favor of such transaction. 

(b) The closing of any Sale Event for which the Initiating Holders have delivered a Sale Event Notice pursuant to this Section 3.8
shall be held at such time and place as the Initiating Holders shall reasonably specify. At such closing, the Security Holders shall deliver certificates representing the Shares to be sold, duly endorsed for transfer and accompanied by all requisite
stock transfer taxes, if any, and the Shares to be transferred shall be free and clear of any liens, claims or encumbrances (other than restrictions imposed by this Agreement) and each of the Security Holders shall so represent and warrant. Each of
the Security Holders shall further represent and warrant that it is the record and beneficial owner of such Shares free and clear of all liens, charges, security interests, encumbrances or other rights of third parties and join in such additional
representations, warranties and related indemnities and other obligations relating to its ownership of the Shares as shall be customary in transactions of a similar nature (including without limitation any withholding obligations and escrow
arrangements). 
 (c) Notwithstanding anything herein to the contrary, in the event that the consideration to be paid in exchange for the
Shares pursuant to this Section 3.8 includes any securities and due receipt thereof by any Security Holder would require under applicable law (i) the registration or qualification of such securities or of any person as a broker or
dealer or agent with respect to such securities or (ii) the provision to any Security Holder of any information other than such information as a prudent issuer would generally furnish in an offering made solely to “accredited
investors” as defined in Regulation D promulgated under the United States Securities Act of 1933, as amended (the “Securities Act”), the other Security Holders may cause to be paid to such Security Holder in lieu thereof,
against surrender of the Shares which would have otherwise been sold by such Security Holder, an amount in cash equal to the fair value (as determined in good faith by the Initiating Holders) of the securities which such Security Holder would
otherwise receive as of the date of the issuance of such securities in exchange for the Shares. 
 (d) Each Security Holder, whether in its
capacity as an Initiating Holder, Security Holder, officer or director of the Company, or otherwise, shall to the fullest extent permitted by law take or cause to be taken all such actions as may reasonably be requested by the Initiating Holders in
order expeditiously to consummate each Sale Event and any related transactions, including, without limitation, executing, acknowledging and delivering consents, assignments, waivers and other documents or instruments, furnishing information and
copies of 

  Shareholders Agreement – Page
 13
 
  

 
documents, filing applications, reports, returns, filings and other documents or instruments with governmental authorities, and otherwise cooperating with the Company and the Initiating Holders.
Without limiting the generality of the foregoing, each Security Holder shall execute and deliver such agreements and instruments as may be reasonably specified by the Initiating Holders. 

(e) Each Security Holder hereby grants to the Initiating Holders (i) an irrevocable proxy, coupled with an interest, to vote all Shares
owned by such Security Holder, and (ii) an irrevocable power of attorney, which is coupled with an interest, to take such other actions, in each case to the extent necessary to carry out the provisions of this Section 3.8 in the
event of any breach by such Security Holder of its obligations hereunder. 
 (f) Notwithstanding any provision of this Agreement, the
purchase and sale of Shares pursuant to this Section 3.8 shall not be subject to the provisions of Sections 3.2, 3.3, 3.4, 3.5, 3.6 and 3.7 hereof. 

3.9 Drag-Along Rights By Shareholders. 

(a) If at any time the holders of a majority of the issued and outstanding Common Shares, voting together as a class (the “Shareholder
Initiating Holders”), propose to effect (or to cause the Company to effect) a Sale Event, the Shareholder Initiating Holders may deliver a notice (a “Shareholder Sale Event Notice”) to all of the other Security Holders
stating that the Shareholder Initiating Holders propose to effect (or to cause the Company to effect) such transaction (the “Shareholder Sale Event Notice Transaction”), and specifying the name and address of the proposed parties to
such transaction and the consideration payable in connection therewith. Upon receipt of a Shareholder Sale Event Notice, each Security Holder shall be obligated to Transfer all Shares owned by it in such Sale Event (or, in the case of such a Sale
Event involving a sale of less than all of the outstanding Shares, a percentage of the Shares owned by it equal to the percentage of the Shareholder Initiating Holders’ Shares being sold by the Shareholder Initiating Holders), for a price and,
subject to Section 3.9(c) below, on other terms and conditions not less favorable to the Security Holder than to the Shareholder Initiating Holders; provided, however, that the price may be different for each of the
Company’s classes of stock to the extent that such difference is consistent with the liquidation preferences of such classes of stock set forth in the Articles; provided further, however, that, with respect to any Shares for which
a Security Holder holds unexercised stock options or other convertible security with an associated exercise price, the price per such Share shall be reduced by the exercise price of such security or, if required pursuant to the terms of such
security, such Security Holder shall pay the exercise price therefor prior to the closing of the Shareholder Sale Event Notice Transaction, and shall transfer the Shares held by such Security Holder in the Shareholder Sale Event Notice Transaction;
provided further, however, that no Security Holder shall be entitled to participate in any rollover or re-investment arrangement in connection with such Sale Event. In addition to selling its
Shares, each Security Holder shall take all other necessary action to cause the Company to consummate such Sale Event, including, to the extent necessary, voting all such Security Holder’s Shares in favor of such transaction. 

  Shareholders Agreement – Page
 14
 
  

 (b) Notwithstanding anything herein to the contrary, the provisions of this
Section 3.9 shall not apply to the Investors and no Investor shall be compelled or otherwise required to participate in any such Sale Event, unless the sum of (i) the aggregate value of all cash payments received by the Investors
prior to the date of such Sale Event that are directly in respect of Shares owned by the Investors (exclusive of any indebtedness, management fees, consulting fees or expense reimbursements) and (ii) the aggregate cash proceeds received by the
Investors as a result of their ownership of Shares at the closing of such Sale Event (exclusive of any proceeds in escrow or earn-out or other post-closing or conditional payments to such holders) is equal to or greater than three (3) times the
aggregate purchase price for Shares held by the Investors or their Affiliates, determined as of immediately prior to such Sale Event. For the avoidance of doubt, such aggregate amount invested by the Investors as of the date hereof is
CAD$50,000,000. 
 (c) The closing of any such Sale Event for which the Shareholder Initiating Holders have delivered a Shareholder Sale
Event Notice pursuant to this Section 3.9 shall be held at such time and place as the Shareholder Initiating Holders shall reasonably specify. At such closing, the Security Holders shall deliver certificates representing the Shares to be
sold, duly endorsed for transfer and accompanied by all requisite stock transfer taxes, if any, and the Shares to be transferred shall be free and clear of any liens, claims or encumbrances (other than restrictions imposed by this Agreement) and
each of the Security Holders shall so represent and warrant. Each of the Security Holders shall further represent and warrant that it is the record and beneficial owner of such Shares free and clear of all liens, charges, security interests,
encumbrances or other rights of third parties and join in such additional representations, warranties and related indemnities and other obligations relating to its ownership of the Shares as shall be customary in transactions of a similar nature
(including without limitation any withholding obligations and escrow arrangements). 
 (d) Notwithstanding anything herein to the contrary,
in the event that the consideration to be paid in exchange for the Shares pursuant to this Section 3.9 includes any securities and due receipt thereof by any Security Holder would require under applicable law (i) the registration or
qualification of such securities or of any person as a broker or dealer or agent with respect to such securities or (ii) the provision to any Security Holder of any information other than such information as a prudent issuer would generally
furnish in an offering made solely to “accredited investors” as defined in Regulation D promulgated under the Securities Act, the other Security Holders may cause to be paid to such Security Holder in lieu thereof, against surrender of the
Shares which would have otherwise been sold by such Security Holder, an amount in cash equal to the fair value (as determined in good faith by the Shareholder Initiating Holders) of the securities which such Security Holder would otherwise receive
as of the date of the issuance of such securities in exchange for the Shares. 
 (e) Each Security Holder, whether in its capacity as an
Shareholder Initiating Holder, Security Holder, officer or director of the Company, or otherwise, shall to the fullest extent permitted by law take or cause to be taken all such actions as may reasonably be requested by the Shareholder Initiating
Holders in order expeditiously to consummate each such Sale Event and any related transactions, including, without limitation, executing, acknowledging and delivering consents, assignments, waivers and other documents or instruments, furnishing

  Shareholders Agreement – Page
 15
 
  

 
information and copies of documents, filing applications, reports, returns, filings and other documents or instruments with governmental authorities, and otherwise cooperating with the Company
and the Shareholder Initiating Holders. Without limiting the generality of the foregoing, each Security Holder shall execute and deliver such agreements and instruments as may be reasonably specified by the Shareholder Initiating Holders. 

(f) Each Security Holder hereby grants to the Shareholder Initiating Holders (i) an irrevocable proxy, coupled with an interest, to vote
all Shares owned by such Security Holder, and (ii) an irrevocable power of attorney, which is coupled with an interest, to take such other actions, in each case to the extent necessary to carry out the provisions of this Section 3.9
in the event of any breach by such Security Holder of its obligations hereunder. 
 (g) Notwithstanding any provision of this Agreement, the
purchase and sale of Shares pursuant to this Section 3.9 shall not be subject to the provisions of Sections 3.2, 3.3, 3.4, 3.5, 3.6 and 3.7 hereof. 

3.10 Failure to Deliver Shares. If any Security Holder (or such Security Holder’s legal representative) who has become obligated
to sell Shares hereunder shall fail to deliver such Shares to the Company in accordance with the terms of this Agreement, the Company may, at its option, in addition to all other remedies it may have, send to such Security Holder by registered mail,
return receipt requested, the purchase price for such Shares as is herein specified. Thereupon, the Company: (i) shall cancel on its books the certificate or certificates representing such Shares to be sold; and (ii) shall issue, in lieu
thereof, a new certificate or certificates in the name of the Company representing such Shares, and thereupon all of such Security Holder’s rights in and to such Shares shall terminate. 

3.11 Market Stand-Off. Each Security Holder hereby agrees that it will not, without the prior written consent of the managing
underwriter, during the period commencing on the date of the final prospectus relating to the Company’s Initial Public Offering and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred
eighty (180) days), which period may be extended upon the request of the managing underwriter, to the extent required by any FINRA rules, for an additional period of up to fifteen (15) days if the Company issues or proposes to issue an
earnings or other public release within fifteen days of the expiration of the expiration of the 180-day lockup period, (i) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to
sell, grant any option, right, or warrant to purchase, or otherwise Transfer or dispose of, directly or indirectly, any Shares held immediately prior to the effectiveness of the registration statement for the Company’s Initial Public Offering
or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Shares, whether any such transaction described in clause (i) or (ii) above is to be
settled by delivery of Shares or other securities, in cash, or otherwise. The foregoing provisions of this Section 3.11 shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, and shall be
applicable to the Holders only if all shareholders holding at least one percent (1%) of the Company’s outstanding Common Stock (after giving effect to conversion into Common Stock of all outstanding Preferred Stock), and all officers and
directors of the Company are subject to the same restrictions. Any discretionary waiver or termination of the provisions of this 

  Shareholders Agreement – Page
 16
 
  

 
Section 3.11 by the Company or the managing underwriter shall apply to all persons subject to this Section 3.11 on a pro rata basis (calculated on an as-converted basis).
Each Security Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in connection with such registration that are consistent with this Section 3.11 or that are necessary to give further
effect thereto. The Company further agrees that it shall use its best efforts to ensure that all shares of capital stock issued after the Effective Time shall be subject to “market stand-off” provisions at least as restrictive as those set
forth in this Section 3.11. 
 3.12 Benefit. This Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective heirs, executors, personal representatives, successors and permitted assigns and shall be binding upon any Person to whom any Shares are Transferred (even if in violation of the provisions of this Agreement) and the
heirs, executors, personal representatives, successors and assigns of such person, firm, company or other entity. No provision of this Agreement shall be construed to provide a benefit to any party hereto who no longer owns any Shares, other than a
right to receive a required payment with respect thereto. 
 3.13 Permitted Transfers. Notwithstanding anything to the contrary in
this Agreement, without complying with any other provisions of this Agreement, a Security Holder may Transfer any or all of such Security Holder’s Shares: 

(a) by way of gift for estate planning purposes to any member of such Security Holder’s family; 

(b) by will or the laws of descent and distribution (in which event each such transferee shall be bound by all of the provisions of this
Agreement to the same extent as if such transferee were the transferring Security Holder); 
 (c) to a trust (i) in respect of which
such Security Holder and his or her family members serve as trustee(s), provided that the trust instrument governing such trust shall provide that Security Holder and his or her family as trustee(s), shall retain sole and exclusive control over the
voting and disposition of such shares until the termination of this Agreement and (ii) which is for the benefit of any member or members of such Security Holder’s family; 

(d) to any of such Security Holder’s partners of the Security Holder if the Security Holder is a partnership, members of the Security
Holder if the Security Holder is a limited liability company, or shareholders of the Security Holder if the Security Holder is a corporation; 

(e) if such Security Holder is an Investor, to any Affiliate of such Investor; 

(f) if such Security Holder is a trust, to a beneficiary or beneficiaries of such trust; 

(g) if such Security Holder is an RRSP or tax free savings account or comparable entity, then to a beneficiary or beneficiaries of such trust;

  Shareholders Agreement – Page
 17
 
  

 (h) if such Shareholder is a trust or corporation, such Shareholder may Transfer to another
trust or corporation so long as (i) immediately after such Transfer, the beneficiaries of such new trust or the equityholders of such new corporation consist solely of the beneficiaries or equityholder of such Shareholder or members of their
immediate families and (ii) such Transfer is approved by the Board; or 
 (i) to a corporation wholly owned by the Security Holder,
provided that the Security Holder retains sole and exclusive control over the voting and disposition of such Shares and the shares of capital stock of such corporation until the termination of this Agreement (each such transferee as described in
clauses (a) through (f), a “Permitted Transferee”); provided that any such Transfer shall not require the registration of any Shares under the Securities Act or other applicable law. 

Each Security Holder shall vote its Shares to give effect to this Section 3.13, whether at a meeting of Security Holders or by written resolution
of the Security Holders. 
 No Transfer of Shares to a Permitted Transferee shall be effective if the purpose of such Transfer shall have been to circumvent
the provisions of this Agreement. Any Transfer of Shares to a Permitted Transferee pursuant to this Section 3.13 shall be expressly conditioned upon the transferee of such Shares becoming a party to this Agreement by executing an
Instrument of Adherence, in which event each such transferee shall be bound by all of the provisions of this Agreement to the same extent as if such transferee were the transferor, and all Shares transferred shall at all times remain subject to the
terms of this Agreement in the hands of the transferee. As used herein, the word “family” shall include any spouse, lineal ancestor or descendant, brother, sister, or legally adopted child of any such person. 

Notwithstanding compliance with the terms and provisions of this Agreement and in addition to and not in substitution of any other restrictions on Transfer
contained in this Agreement, no holder of Common Shares or Class B Special Shares holding less than 5% of the issued and outstanding Common Shares and Class B Special Shares (on a class by class and fully diluted basis) shall be entitled to sell,
dispose or otherwise transfer their Common Shares or Class B Special Shares, as the case may be, without the prior written approval of the Board, other than to a Permitted Transferee. 

ARTICLE IV 
 MISCELLANEOUS

 4.1 Notices. All notices, requests, consents and other communications hereunder shall be in writing and shall be delivered in
person, mailed by certified or registered mail, return receipt requested, or sent by facsimile, addressed as follows: 
 (a) if to the
Company, at Wescom, Inc., 6975 Creditview Road, Unit 4, Mississauga, ON, Canada L5N 8E9, Attention: President, facsimile: (905) 858-2248, with a copy to Harris + Harris LLP, 2355 Skymark Avenue, Suite 300, Mississauga, ON, Canada L4W 4Y6,
Attention: Gregory H. Harris, facsimile: (905) 629-4350; 

  Shareholders Agreement – Page
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 (b) if to any Investor, at the address of such Investor set forth in Schedule I
hereto, with a copy to Goodwin Procter LLP, Exchange Place, 53 State Street, Boston, Massachusetts 02109, Attention: Mark H. Burnett, facsimile: (617) 523-1231; 

(c) if to any Shareholder, at the address of such Shareholder set forth in Schedule II hereto; 

or, in any such case, at such other address or addresses as shall have been furnished in writing by such party to the others. All notices shall be considered
to be delivered (i) three (3) days after dispatch in the event of first class or registered mail, (ii) the next succeeding business day in the event of electronic mail or facsimile transmission (with confirmation of receipt) or
overnight courier service, and (iii) on the day of delivery in the event of delivery by hand in person. 
 4.2 Termination. 

(a) This Agreement shall terminate immediately prior to but upon the earliest to occur of: (i) the closing of a Qualified IPO (as defined
in the Articles); (ii) immediately prior to the consummation of a Sale Event; or (iii) a combination thereof. 
 (b) Upon the
termination of this Agreement under this Section 4.2, except as otherwise set forth herein, the restrictions and obligations set forth herein shall terminate and be of no further effect, except that (i) such termination shall not
affect rights perfected or obligations incurred under this Agreement prior to such termination, and the Company, upon the request of any Security Holder, shall issue to such requesting Security Holder certificate(s) representing such holder’s
shares without the legend required by Section 4.3 herein upon the surrender of the certificate(s) representing such shares to the Company, (ii) the provisions of Sections 3.8 and 3.9 hereof will continue after the
closing of any Sale Event to the extent necessary to enforce the provisions thereof with respect to such Sale Event and (iii) the provisions of Sections 2.6 and 3.11 and Article IV shall survive any termination hereof. 

4.3 Restrictive Legend. During the term of this Agreement the certificate(s) evidencing the Shares subject to this Agreement may be
inscribed by the Company with the following legend, or one substantially similar thereto: 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE
SUBJECT TO RESTRICTIONS ON TRANSFER AND MAY NOT BE SOLD, EXCHANGED, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF EXCEPT IN ACCORDANCE WITH AND SUBJECT TO ALL THE TERMS AND CONDITIONS OF A SHAREHOLDERS AGREEMENT, AS AMENDED FROM TIME
TO TIME, A COPY OF WHICH THE COMPANY WILL FURNISH TO THE HOLDER OF THIS CERTIFICATE UPON REQUEST AND WITHOUT CHARGE. 
 4.4 Covenants and
Acknowledgements Regarding Common Shares, Class A Special Shares and Class B Special Shares. 

  Shareholders Agreement – Page
 19
 
  

 (a) In the event that the Shareholders who hold the Class B Special Shares are entitled by
operation of law or otherwise to vote at any meeting of Security Holders separately as a class, then the holders of the Class B Special Shares covenant to vote their Class B Special Shares in the same manner as they have voted their Common Shares,
or in the event such Shareholders are not also owners of Common Shares, then in accordance with the manner in which their related parties voted their Common Shares. 

(b) No dividend shall be payable on the Class A Special Shares or Class B Special Shares as long as any Class A Preferred Shares
remain outstanding. 
 (c) No Class A Special Shares or Class B Special Shares shall be redeemed by the Company as long as any
Class A Preferred Shares remain outstanding. 
 4.5 Entire Agreement; Amendment. This Agreement constitutes the entire agreement
of the parties with respect to the subject matter hereof. No provision of this Agreement may be amended, modified or waived except by an instrument in writing executed by the Company, the Shareholders holding a majority of the then outstanding
Common Shares held by all Shareholders and the Investors holding a majority of the then outstanding Common Shares held by all Investors (in each case, determined on an as-converted basis); provided, however, that any party may waive
its rights under any provision of this Agreement by delivering to the Company an instrument in writing executed by such party. The Company may not, without the prior written consent of the Investors holding a majority of the outstanding Common
Shares (determined on an as-converted basis), waive any provision of this Agreement. Any waiver by any party of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach of that provision or
of any other provision hereof. 
 4.6 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of
the Province of Ontario (other than its rules of conflicts of laws to the extent that the application of the laws of another jurisdiction would be required thereby) and the laws of Canada applicable in the Province of Ontario. 

4.7 Additional Parties. The Company shall take all necessary action to ensure that each person who shall after the date hereof acquires
any shares of the capital stock of the Company or securities of the Company exercisable or convertible into such number of shares of capital stock of the Company shall become a party to this Agreement by executing and delivering to the Company an
Instrument of Adherence, and such additional party shall thereafter be added to Schedule I or Schedule II hereto, as appropriate, and be deemed a Shareholder or Investor, as appropriate, for all purposes of this Agreement without the
requirement of consent of the other parties hereto. 
 4.8 Severability. If any provision of this Agreement is invalid, illegal or
unenforceable, that provision will, to the extent possible, be modified in such manner as to be valid, legal and enforceable but so as to most nearly retain the intent of the parties hereto as expressed herein. If such a modification is not
possible, the parties hereto shall negotiate in good faith a modification of such provision that reflects as closely as possible the economic purpose of the invalid, illegal or unenforceable provision. If no agreement with respect to such
modification is reached, the invalid, illegal or unenforceable provision will be severed from this Agreement. 

  Shareholders Agreement – Page
 20
 
  

 
In any case, the validity, legality and enforceability of the remaining provisions of this Agreement will not in any way be affected or impaired thereby for so long as the economic or legal
substance of the transactions contemplated hereby is not effected in any manner materially adverse to any party. 
 4.9 Captions.
Captions are for convenience only and are not deemed to be part of this Agreement. 
 4.10 Counterparts; Signatures. This Agreement
may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. This Agreement may be executed and transmitted by facsimile or other means of electronic communication,
which signature shall be binding upon the parties as if they were original signatures. 
 4.11 Aggregation of Stock. All Shares held
or acquired by affiliates of a Security Holder shall be aggregated together for purposes of determining the availability or discharge of any rights of such Security Holder under this Agreement. 

4.12 Assignment. The rights of the Investors hereunder are assignable by each Investor (i) to any other Investor or (ii) to a
constituent, partner, member, shareholder or Affiliate of such Investor. 
 4.13 Removal of Rights of Investors. The rights and
preferences granted to the Investors in this Agreement shall be of no further force and effect in the event that the Investors and their permitted assigns and Affiliates collectively cease to hold thirty-three and one-third percent (33 1/3%) of the
Class A Preferred Shares originally issued to the Investors, and in such case any preferential rights granted pursuant to the Investors and their permitted assigns and Affiliates as holders of the Class A Preferred Shares or otherwise
shall terminate; provided that any Class A Preferred Shares held by any person who shall become an Investor after the Effective Time shall not be included as Class A Preferred Shares held by the Investors for purposes of this
Section 4.13, except to the extent such Person is, with respect to Investors as of the date hereof, an Affiliate of such Investor. 

4.14 Beneficiaries to Cause Plan Trustees to Act. Any person executing this Agreement as the beneficiary of a registered retirement
savings plan (“RRSP”) or tax free savings account (“TFSA”) personally convenants that they shall take all action(s) necessary to cause the trustee(s) of any applicable RRSP or TFSA to carry out the intentions of
this Agreement. 
 4.15 Mutual Drafting. The parties have participated jointly in the negotiation and drafting of this Agreement and
the other agreements, documents and instruments executed and delivered in connection herewith with counsel sophisticated in transactions similar to those contemplated hereby. In the event an ambiguity or question of intent or interpretation arises,
this Agreement and the agreements, documents and instruments executed and delivered in connection herewith shall be construed as if drafted jointly by the parties and no presumption or burden of proof shall arise favoring or disfavoring any party by
virtue of the authorship of any provisions of this Agreement and the agreements, documents and instruments executed and delivered in connection herewith. 

  Shareholders Agreement – Page
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 [Remainder of Page Intentionally Left Blank] 

 Shareholders Agreement – Signature Page 

 

 IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the date first above
written. 
  

			
	INVESTORS:
	
	JMI EQUITY FUND VII, L.P.
		
	By:	 	JMI Associates VII, L.L.C.,
		 	 Its General Partner

		
	By:	 	/s/ Harry Gruner
	Name:	 	Harry Gruner
	Title:	 	Managing Member

 Shareholders Agreement – Signature Page 

 

 IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the date first above
written. 
 SHAREHOLDERS: 
  

					
	 /s/ Jonathan Beer
	 		 	 /s/ April Belbeck

	JONATHAN BEER	 		 	APRIL BELBECK
			
	 /s/ Andrew Brigant
	 		 	 /s/ Christina Bromley

	ANDREW BRIGANT	 		 	CHRISTINA BROMLEY
			
	 /s/ Giovina (Josie) Buckrell
	 		 	 /s/ John Butt

	GIOVINA (JOSIE) BUCKRELL	 		 	JOHN BUTT
			
	 /s/ MEGAN D’ANGELO
	 		 	 /s/ Shelly Dahlgren

	MEGAN D’ANGELO	 		 	SHELLY DAHLGREN
			
	 /s/ Russ Depriest
	 		 	 /s/ Alexis Evanich

	RUSS DEPRIEST	 		 	ALEXIS EVANICH
			
	 /s/ Alan Fong
	 		 	 /s/ Breanne Hyslop

	ALAN FONG	 		 	BREANNE HYSLOP
			
	 /s/ Thomas Ross Hyslop
	 		 	 /s/ Catherine Ianni

	THOMAS ROSS HYSLOP	 		 	CATHERINE IANNI
			
	 /s/ Joseph Ianni
	 		 	 /s/ Melissa Jackson

	JOSEPH IANNI	 		 	MELISSA JACKSON
			
	 /s/ Kevin Kilmer-Choi
	 		 	 /s/ George Joseph Lawrence

	KEVIN KILMER-CHOI	 		 	GEORGE JOSEPH LAWRENCE
			
	 /s/ Zdenek Marek
	 		 	 /s/ Michael Campbell Mcbride

	ZDENEK MAREK	 		 	MICHAEL CAMPBELL MCBRIDE
			
	 /s/ Sheila Mcbride
	 		 	 /s/ Brett Melon

	SHEILA MCBRIDE	 		 	BRETT MELON
			
	 /s/ Jason Menges
	 		 	 /s/ Rob Moulson

	JASON MENGES	 		 	ROB MOULSON
			
	 /s/ Heath Odom
	 		 	 /s/ Derek Schmitt

	HEATH ODOM	 		 	DEREK SCHMITT

 Shareholders Agreement – Signature Page 

 

					
	 /s/ Terri Weckle
	 		 	 /s/ David Belbeck

	TERRI WECKLE	 		 	DAVID BELBECK
			
	 /s/ Kyle Bromley
	 		 	 /s/ Jim Buckrell

	KYLE BROMLEY	 		 	JIM BUCKRELL
			
	 /s/ C. William Dillane
	 		 	 /s/ Christine M.C. Ozimek

	C. WILLIAM DILLANE	 		 	CHRISTINE M.C. OZIMEK
			
	 /s/ Angelo Papatheodorou
	 		 	 /s/ Julie Ann Papatheodorou

	ANGELO PAPATHEODOROU	 		 	JULIE ANN PAPATHEODOROU
			
	BELBECK INVESTMENT TRUST	 		 	C.W. DILLANE FAMILY TRUST
	By its trustees:	 		 	By its trustees:
			
	 /s/ David Belbeck
	 		 	 /s/ C. William Dillane

			
	  
	 		 	  

			
	OZIMEK 2011 FAMILY TRUST	 		 	PAPATHEODOROU FAMILY TRUST
	By its trustees:	 		 	By its trustees:
			
	 /s/ Christine M.C. Ozimek
	 		 	 /s/ Angelo Papatheodorou

			
	  
	 		 	  

			
	 THE DAVID WESSINGER FAMILY

TRUST
	 		 	 THE MICHAEL WESSINGER FAMILY

TRUST

	By its trustees:	 		 	By its trustees:
			
	 /s/ David Wessinger
	 		 	 /s/ Michael Wessinger

			
	  
	 		 	  

			
	 BERKSHIRE SECURITIES INC. in
 trust
for Catherine Ianni Account No.
 NPA-0848-R
	 		 	 BERKSHIRE SECURITIES INC. in
 trust
for Joseph Ianni Account No.
 NPA-0847-R

	Per:	 		 	Per:
			
	 /s/ Catherine Ianni
	 		 	 /s/ Joseph Ianni

 Shareholders Agreement – Signature Page 

 

					
	 CIBC WOODGUNDY ITF Sharon E.

Cattrysse Account No. 451-03055-29
	 		 	 CIBC WOODGUNDY ITF Wanda
 Lawrence
Account No. 451-11149-12

	Per:	 		 	Per:
			
	 /s/ Sharon E. Cattrysse
	 		 	 /s/ Wanda Lawrence

			
	 INVESTOR COMPANY ITF A/C
 7T7037S
Chris Beer
	 		 	 INVESTOR COMPANY ITF A/C
 7Q4845A
Michael McBride

	Per:	 		 	Per:
			
	 /s/ Chris Beer
	 		 	 /s/ Michael McBride

			
	 INVESTOR COMPANY ITF A/C
 7Q4847S
Sheila McBride
	 		 	 NBCN INC. ITF Angelo Papatheodorou

A/C 118N87S

	Per: 	 		 	Per:
			
	 /s/ Sheila McBride
	 		 	 /s/ Angelo Papatheodorou

			
	 INVESTOR CO. ITF Account No.
 8H7070-S
Kimberley Bassett
 Per:
	 		 	 RBC DOMINION SECURITIES INC./
 THE
ROYAL TRUST COMPANY, in
 trust for Derek Schmitt, RRSP Account

No. 497-62177-1-3

		 		 	Per:
			
	 /s/ Kimberley Bassett
	 		 	 /s/ Derek Schmitt

			
	 RBC DOMINION SECURITIES in trust
 for
Jonathan Beer TFSA
 # 791-12879-15
	 		 	 RBC DOMINION SECURITIES in trust
 for
Kimberley Bassett TFSA
 # 791-12337-11

	Per:	 		 	Per:
			
	 /s/ Jonathan Beer
	 		 	 /s/ Kimberley Bassett

			
	 RBC DOMINION SECURITIES in trust
 for
Rob Moulson TFSA # 7911176514
	 		 	 RBC DOMINION SECURITIES in trust
 for
Zdenek Marek TFSA # 7911233117

	Per:	 		 	Per:
			
	 /s/ Rob Moulson
	 		 	 /s/ Zdenek Marek

 Shareholders Agreement – Signature Page 

 

					
	 RBC DOMINION SECURITIES in trust 
 for
Christopher Beer TFSA 
 # 791-12334-14
	 		 	 2108014 ONTARIO INC. 
 Per:

	Per:	 		 	
			
	 /s/ Christopher Beer
	 		 	 /s/ C. William Dillane

			
	1284883 ONTARIO INC.	 		 	1284885 ONTARIO INC.
	Per:	 		 	Per:
			
	 /s/ David Wessinger
	 		 	 /s/ Michael Wessinger

 ANNEX I 

WESCOM INC. 
 Instrument of
Adherence 
 The undersigned,
                    , in order to become the owner or holder of              shares of
the capital stock of Wescom Inc., a corporation incorporated under the laws of the Province of Ontario, Canada (the “Company”), hereby agrees to become a party to that certain Shareholders Agreement (the
“Agreement”) dated as of [            ], 2011, by and among the Company and the other parties thereto, and to be bound by all provisions thereof. The undersigned agrees to
be bound under the terms of the Agreement as a[n] [Shareholder] [Investor] (as defined in the Agreement). This Instrument of Adherence shall take effect and shall become a part of said Agreement immediately upon execution by the undersigned hereto
and acceptance thereof by the Company. 
 EXECUTED as a contract under seal as of the date set forth below: 

 

			
	Signature:	 	  

 
			
		
	Name:	 	  

 
			
		
	By:	 	  

 
			
		
	Address:	 	  

 
			
	
	      

	
	  

		
	Social Security No.:	 	  

 
			
		
	Date:	 	  

	
	Accepted:
	
	WESCOM INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00249-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00249-of-00352.parquet"}]]