Document:

Code of Business Conduct and Ethics of Postmedia Network Canada Corp.

 Exhibit 10.7 
 POSTMEDIA NETWORK CANADA CORP. 
 (the “Company”) 

CODE OF BUSINESS CONDUCT AND ETHICS 
 INTRODUCTION 
 This Code of Business Conduct and Ethics
(“Code”) covers a wide range of business practices and procedures. It does not cover every issue that may arise, but sets out basic principles to guide all directors, officers and employees of the Company or any of its subsidiaries
or affiliates1 (collectively, the “Postmedia
Network”) and other persons in similar relationships with Postmedia Network (collectively, with the directors, officers and employees of Postmedia Network, “Postmedia Personnel”). All Postmedia Personnel must conduct
themselves accordingly and seek to avoid even the appearance of improper behavior. This Code also should be provided to and followed by Postmedia Network’s agents and representatives, including advisors. All Postmedia Personnel that report
directly to a Publisher or to an individual in the Company with more seniority than a Publisher are required to read and sign off on the Code. 

While the Code does not provide specific guidance on all situations Postmedia Personnel may encounter at work, the importance of Postmedia Network’s
reputation should be kept in mind and Postmedia Personnel should not do or condone any activity that could damage it. When encountering a difficult situation, Postmedia Personnel should ask themselves the following questions: 

 

	 	•	 	 Is this legal? 

  

	 	•	 	 Is this fair and ethical? 

  

	 	•	 	 Am I confident that Postmedia Network would not be embarrassed if this situation became public knowledge? 

 

	 	•	 	 Would I approve of this situation if I were a co-worker, a customer or a shareholder? 

Postmedia Personnel should be able to answer “Yes” to each question, and should use their best judgment and common sense, keeping in mind that
they are required to comply with both the content and spirit of the Code. 
 If a law conflicts with a policy in this Code, Postmedia Personnel
must comply with the law. If a local custom or policy conflicts with this Code, Postmedia Personnel must comply with this Code. If you have any questions about these conflicts, you should ask your department head or the Senior Vice President and
General Counsel how to handle the situation. 
  
  

	1	 A company is a subsidiary of another company if it is controlled, directly or indirectly, by that other company (through one or more intermediaries or
otherwise). A company is an affiliate of another company if either one of them is the subsidiary of the other company or if both are subsidiaries of the same company or if each of them is controlled by the same person or company.

 Postmedia Personnel who violate the standards in this Code will be subject to disciplinary action, which
could include, alone or in combination, a warning or letter of reprimand, demotion, loss of merit increase, bonus or stock options, suspension without pay or termination of their employment or other relationship with Postmedia Network. If you are
in a situation that you believe may violate or lead to a violation of this Code, follow the guidelines described below under “Compliance Procedures”. 
 PURPOSE 
 The purpose of the Code is to: 

 

	 	•	 	 Promote honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional
relationships; 

  

	 	•	 	 Promote avoidance of conflicts of interest, including disclosure to an appropriate person of any material transaction or relationship that reasonably
could be expected to give rise to such a conflict; 

  

	 	•	 	 Promote full, fair, accurate, timely and understandable disclosure in reports and documents that Postmedia Network files with, or submits to, the
securities regulators and in other public communications made by Postmedia Network; 

  

	 	•	 	 Promote compliance with applicable laws, rules and regulations; 

 

	 	•	 	 Promote the prompt internal reporting to an appropriate person of violations of this Code; 

 

	 	•	 	 Promote accountability for adherence to this Code; 

  

	 	•	 	 Provide guidance to Postmedia Personnel to help them recognize and deal with ethical issues; 

 

	 	•	 	 Provide mechanisms to report unethical conduct; and 

  

	 	•	 	 Help foster Postmedia Network’s culture of honesty and accountability. 

LEGAL COMPLIANCE 

Compliance with Laws, Rules, Regulations and Policies (including Insider Trading Laws and Timely Disclosure) 

Postmedia Personnel are expected to comply in good faith at all times with all applicable laws, rules and regulations and behave in an ethical manner.

 Postmedia Personnel are required to comply with the Company’s Timely Disclosure, Confidentiality and Insider Trading Policy and all
other policies and procedures applicable to them that are adopted by the Company from time to time. 
 Postmedia Personnel must cooperate fully
with those (including the Executive Vice President & Chief Financial Officer) responsible for preparing reports filed with the securities regulatory 

 
authorities and all other materials that are made available to the investing public to ensure those persons are aware in a timely manner of all information that is required to be disclosed.
Postmedia Personnel should also cooperate fully with the independent auditors in their audits and in assisting in the preparation of financial disclosure. 
 THIRD PARTY RELATIONSHIPS 
 Conflict of Interest 

Postmedia Personnel are required to act with honesty and integrity and to avoid any relationship or activity that might create, or appear to create, a
conflict between their personal interests and the interests of Postmedia Network. 
 “Conflicts of interest” arise where an
individual’s private interests interfere in any way with the interests of Postmedia Network. A conflict of interest can arise when Postmedia Personnel take actions or have interests that may make it difficult for them to perform their work for
Postmedia Network objectively and effectively. Such conflicting loyalties can cause a person to give preference to personal interests in situations where corporate responsibilities should come first. Postmedia Personnel shall perform the
responsibilities of their positions on the basis of what is in the best interests of Postmedia Network, free from the influence of personal considerations and relationships. 
 It is almost always a conflict of interest for Postmedia Personnel to work at the same time for a competitor or a person with whom Postmedia Network has a business relationship. Postmedia Personnel are
not allowed to work for a competitor in any capacity, including as a consultant or board member. Avoid any direct or indirect business relationship (except on behalf of Postmedia Network) with competitors of Postmedia Network or persons with whom
Postmedia Network has business relationships. 
 Conflicts of interest are prohibited as a matter of Company policy, except under guidelines
approved by the Board of Directors. Conflicts of interest may not always be clear-cut. If you have a question, you should consult with your department head. Any Postmedia Personnel who become aware of a conflict or potential conflict should bring it
to the attention of a department head and consult the procedures described below under “Compliance Procedures”. 
 Gifts and
Entertainment 
 Business gifts and entertainment are customary courtesies designed to build goodwill and constructive relationships among
business partners. These courtesies may include such things as meals and beverages, tickets to sporting or cultural events, discounts not available to the general public, accommodation and other merchandise or services. In some cultures, they play
an important role in business relationships. However, a problem may arise when these courtesies compromise, or appear to compromise, Postmedia Network’s ability to make fair and objective business decisions or to gain an unfair advantage.

 Postmedia Personnel or their immediate families shall not use their position with Postmedia Network to solicit any cash, gifts or free
services from any Postmedia Network customer, supplier or contractor for themselves or their immediate family’s or friend’s personal benefit. 

 
Gifts or entertainment from others should not be accepted by the employee, officer or director who receives it, or otherwise improperly influence Postmedia Network’s business relationship
with or create an obligation to a customer, supplier or contractor. The following are guidelines regarding gifts and entertainment: 
  

	 	•	 	 Nominal gifts and entertainment, such as logo items, pens, calendars, caps, shirts and mugs are acceptable. 

 

	 	•	 	 Reasonable invitations to business-related meetings, conventions, conferences or product training seminars may be accepted.

  

	 	•	 	 Invitations to social, cultural or sporting events may be accepted if the cost is reasonable and your attendance serves a customary business purpose
such as networking (e.g. meals, holiday parties and tickets). 

  

	 	•	 	 Invitations to golfing, fishing, sports events or similar trips that are usual and customary for your position within the company and the industry and
promote good working relationships with customers and suppliers may be accepted provided, in the case of employees, they are approved in advance by your manager. 

 No gift or entertainment should ever be offered, given, provided, authorized or accepted by any Postmedia Personnel or their family members unless it is not a cash gift, is consistent with customary
business practices, is not excessive in value, cannot be construed as a bribe or payoff, and does not violate any laws. Strict rules apply when Postmedia Network does business with governmental agencies and officials, as discussed in more detail
below. Postmedia Personnel should discuss with their department head questions regarding any gifts or proposed gifts which may be offered to them. Revenue Canada has specific guidelines on all cash gifts or near cash gifts which are considered a
taxable benefit. These guidelines apply at all times and do not change during traditional gift-giving seasons. 
 Payments to Government
Personnel 
 All Postmedia Personnel must comply with all laws prohibiting improper payments to domestic and foreign officials, including the
Corruption of Foreign Public Officials Act (Canada) and the Foreign Corrupt Practices Act (US). These Acts prohibit, among other things, offering, promising or giving (or authorizing any of those activities) anything of value, directly
or indirectly, to officials of foreign governments or foreign political candidates to influence any of their acts or decisions or to obtain or retain business. 
 Similarly, other governments have laws regarding business gifts that may be accepted by government personnel. The promise, offer or delivery to an official or employee of various governments of a gift,
favor or other gratuity in violation of these laws would not only violate Company policy but could also be a criminal offense. Illegal payments are not to be made to government officials of any country. The Company’s Legal Department can
provide guidance to Postmedia Personnel in this area. 

 Government Relations 
 Postmedia Personnel may participate in the political process as private citizens. It is important to separate personal political activity and Postmedia Network’s political activities, if any, in
order to comply with the appropriate rules and regulations relating to lobbying or attempting to influence government officials. Postmedia Network’s political activities, if any, shall be subject to the overall direction of the Board of
Directors. Postmedia Network will not reimburse Postmedia Personnel for money or personal time contributed to political campaigns. In addition, Postmedia Personnel may not work on behalf of a candidate’s campaign while at work or at any time
use Postmedia Network’s facilities for that purpose unless approved by the Chair of the Audit Committee. 
 No employee, director or
officer may offer improper payments when acting on behalf of Postmedia Network. 
 Company funds must not be used to make payment or provide
anything of value, directly or indirectly, in money, property, services or any other form to a government official, political party or candidate for political office in consideration for the recipient agreeing to: 

 

	 	1.	exert influence to assist Postmedia Network in obtaining or retaining business or secure any advantage; or 

 

	 	2.	commit any act in violation of a lawful duty or otherwise influence an official act. 

 If you are in doubt about the legitimacy of a payment to be made, refer such situations to the Chair of the Audit Committee. 
 In addition, Postmedia Personnel are strictly prohibited from attempting to influence any person’s testimony in any manner whatsoever in courts of justice or any administrative tribunals or other
government bodies. 
 Competitive Practices 
 Postmedia Network firmly believes that fair competition is fundamental to the continuation of the free enterprise system. Postmedia Network complies with and supports laws which prohibit restraints of
trade, unfair practices, or abuse of economic power. 
 Antitrust or competition laws prohibit Postmedia Network from engaging in activities
intended to lessen competition. Agreements with competitors to fix prices or allocate sales, customers or territories are prohibited. In addition, discussions with outsiders with respect to strategic information on topics such as pricing, subscriber
lists and product development are also prohibited. 
 Postmedia Network will not enter into arrangements that unlawfully restrict its ability to
compete with other businesses, or the ability of any other business organization to compete freely with Postmedia Network. Postmedia Network’s policy also prohibits Postmedia Personnel from entering into or discussing any unlawful arrangement
or understanding that may result in unfair business practices or anticompetitive behaviour. 

 Directorship 
 Postmedia Personnel, other than directors and officers of the Company, shall not act as directors or officers of any other corporate entity or organization, public or private, without the prior written
approval of their department head. Directors and officers of the Company shall obtain written approval of the Chairman of the Board of Directors prior to acting as directors or officers of any other corporate entity or organization. Directorships or
officerships with such entities will not be authorized if they are considered to be contrary to the interest of Postmedia Network. Department heads or the Chairman of the Board of Directors in the case of the Company’s directors and officers,
may provide authorizations for directorships/officerships that are necessary for business purposes or for directorships/officerships with charitable organizations or other entities that will further Postmedia Network’s profile in the community.

 Execution of Agreements 
 All
agreements entered into by Postmedia Network must be reviewed and approved by Postmedia Personnel from the Company’s Legal Department and then be executed by the appropriate authorized signing officers. All Postmedia Personnel should abide by
the Company’s Signing Policy, attached to this Policy as Appendix A. 
 INFORMATION AND RECORDS

 Confidential and Proprietary Information and Trade Secrets 
 Postmedia Personnel may be exposed to certain information that is considered confidential by Postmedia Network or entrusted to Postmedia Network by persons with whom Postmedia Network does business, or
may be involved in the design or development of new procedures related to the business of Postmedia Network. All such information and procedures, whether or not the subject of copyright or patent, are the sole property of Postmedia Network.
Postmedia Personnel shall not disclose confidential information to persons outside Postmedia Network, including family members, and should share it only with other Postmedia Personnel who have a “need to know” unless the disclosure is
specifically authorized by the President & Chief Executive Officer. 
 Postmedia Personnel are responsible and accountable for
safeguarding Postmedia Network documents and information to which they have direct or indirect access as a result of their employment, officership or directorship with Postmedia Network. All Postmedia Personnel should read and abide by the
Company’s Timely Disclosure, Confidentiality and Insider Trading Policy. 
 Personal information 

In the course of its operations, Postmedia Network accumulates a great deal of information about its customers and employees, and have an obligation to
limit the collection, access, use and disclosure of this information as outlined in the Company’s Privacy Policy. All Postmedia Personnel should read and abide by the Company’s Privacy Policy. 

 Financial Reporting and Records 
 Postmedia Network requires honest and accurate recording and reporting of information to make responsible business decisions. Postmedia Network’s accounting records are relied upon to produce reports
for our management, directors, shareholders, governmental agencies and persons with whom Postmedia Network does business. All of Postmedia Network’s financial statements and the books, records and accounts on which they are based must
appropriately reflect Postmedia Network’s activities and conform to applicable legal and accounting requirements and to Postmedia Network’s system of internal controls. Unrecorded or “off the books” funds or assets should not be
maintained unless required by applicable law or regulation. 
 All Postmedia Personnel have a responsibility, within the scope of their
positions, to ensure that Postmedia Network’s accounting records do not contain any false or intentionally misleading entries. Postmedia Network does not permit intentional misclassification of transactions as to accounts, departments or
accounting records. All transactions must be supported by accurate documentation in reasonable detail and recorded in the proper accounts and in the proper accounting period. Postmedia Personnel should read and abide by the Company’s
Whistleblower Policy. 
 Many Postmedia Personnel use business expense accounts, which must be documented and recorded accurately. If Postmedia
Personnel are not sure whether a certain expense is legitimate, the finance group within their department can provide advice. 
 Business
records and communications often become public through legal or regulatory proceedings or the media. In respect of business records and all types of communications, Postmedia Personnel should ensure that all communications are professional and
contain accurate information, and consider how such communications would be perceived and how they would reflect on the Company if they were released to the public. By way of example, Postmedia Personnel should avoid exaggeration, derogatory
remarks, guesswork or inappropriate characterizations that can be misunderstood. This requirement applies equally to communications of all kinds, including internal and external e-mail, informal notes, internal memos, and formal reports. 

Record Retention 
 Postmedia Network
maintains all records in accordance with laws, rules and regulations regarding retention of business records. The term “business records” covers a broad range of files, reports, business plans, receipts, policies and communications,
including hard copy, electronic, audio recording, microfiche and microfilm files whether maintained at work or at home. Postmedia Network prohibits the unauthorized destruction of or tampering with any records, whether written or in electronic form,
where Postmedia Network is required by laws, rules or regulations to maintain such records or where it has reason to know of a threatened or pending government investigation or litigation relating to such records. 

 COMPANY ASSETS 
 Use of Company Property 
 All Postmedia Personnel should endeavor to protect Postmedia
Network’s assets and ensure their efficient use. Theft, carelessness, and waste have a direct impact on Postmedia Network’s profitability. Any suspected incident of fraud or theft should be reported immediately to your department head for
investigation. Postmedia Network equipment should not be used for non-Postmedia Network business, other than incidental personal use. 

Postmedia Network’s assets (such as funds, products or proprietary information) may be used only for legitimate business purposes. Postmedia
Network’s assets may never be used for illegal purposes. 
 Intellectual Property of Others 

The obligation of Postmedia Personnel to protect Postmedia Network’s assets includes Postmedia Network’s proprietary information. Proprietary
information includes any confidential information, as well as Postmedia Network’s intellectual property. Examples of proprietary information include intellectual property (such as trade secrets, patents, trademarks (such as logos), copyrights
and exclusive photo images), business, marketing and service plans, policies and procedures manuals, designs, databases, salary information and any unpublished financial data and reports. Unauthorized use or distribution of this information would
violate Company policy and could be illegal and result in civil or criminal penalties. The obligation to preserve the confidentiality of proprietary information continues even after Postmedia Personnel cease to have a relationship with Postmedia
Network. 
 Information Technology 
 Postmedia Network’s information technology systems, including computers, e-mail, intranet and internet access, telephones and voice mail are the property of Postmedia Network and are to be used
primarily for business purposes. Postmedia Network information technology systems may be used for minor or incidental personal messages provided that such use is kept at a minimum and is in compliance with Postmedia Network policy and this Code.

 Electronic documents and messages (including voice-mail, e-mail and SMS) sent, received, created or modified by Postmedia Personnel using
Postmedia Network’s information technology systems and/or accounts are considered Postmedia Network property and Postmedia Personnel should recognize that they are not “personal” or “private”. Unless prohibited by law, the
Company reserves the right to access and disclose (both internally and externally) electronic documents and messages, as well as, to specify, configure and restrict its electronic systems as necessary for its business purposes. Postmedia Personnel
should use good judgment and not access, send messages or store any information that they would not want to be seen or heard by others. Postmedia Personnel should read and abide by the Company’s Information Technology Policy. 

 WORKPLACE 
 A Non-discriminatory Environment 
 Postmedia Network fosters a work environment in which all
individuals are treated with respect and dignity. Postmedia Network is an equal opportunity employer and does not discriminate against Postmedia Personnel or potential employees, officers or directors on the basis of race, color, religion, sex,
national origin, age, sexual orientation or disability or any other category protected by Canadian federal and provincial laws, rules and regulations and, in addition, in accordance with the laws, rules or regulations applicable in the jurisdiction
where such Postmedia Personnel are located. Postmedia Network will make reasonable accommodations for its Postmedia Personnel in compliance with applicable laws, rules and regulations. Postmedia Network is committed to actions and policies to assure
fair employment, including equal treatment in hiring, promotion, training, compensation, termination and corrective action and will not tolerate discrimination by Postmedia Personnel. 
 Harassment-Free Workplace 
 Postmedia Network will not tolerate harassment of Postmedia
Personnel, customers or suppliers in any form. Harassment includes all conduct and comment that is prohibited by legislation and includes any unwanted physical or verbal conduct that offends or humiliates a Postmedia Personnel. Harassment also
includes behaviour in the form of repeated and hostile conduct, verbal comments, actions or gestures based on a protected ground or which are known or should reasonably be known to be unwelcome, and which negatively affects a Postmedia
Personnel’s dignity or psychological and/or physical integrity, and results in a harmful work environment for the Postmedia Personnel. 

Sexual Harassment 
 Sexual harassment is
illegal and all Postmedia Personnel are prohibited from engaging in any form of sexually harassing behaviour. Sexual harassment means unwelcome sexual conduct, either visual, verbal or physical, and may include, but is not limited to, unwanted
sexual advances; unwanted touching and suggestive touching, language of a sexual nature, telling sexual jokes, innuendoes, suggestions, suggestive looks and displaying sexually suggestive visual materials. 

Substance Abuse 
 Postmedia Network is
committed to maintaining a safe and healthy work environment free of substance abuse. Postmedia Personnel are expected to perform their responsibilities in a professional manner and, to the degree that job performance or judgment may be hindered, be
free from the effects of drugs and/or alcohol. 
 Workplace Violence 
 The workplace must be free from violent behaviour. Threatening, intimidating or aggressive behaviour, as well as bullying, subjecting to ridicule or other similar behaviour toward fellow employees or
others in the workplace will not be tolerated. Postmedia Network has a zero tolerance policy for actions, statements, or other behaviour by anyone that is, or is intended to be, 

 
violent, threatening, intimidating, disruptive, or aggressive as determined by Postmedia Network in its sole discretion. 
 Employment of Family Members 
 Employment of more than one family member at a Postmedia
Network office or other premises is permissible but the direct supervision of one family member by another is not permitted unless otherwise authorized by the Executive Vice President & Chief Financial Officer or the Senior Vice President,
People. Except for summer and co-op students, indirect supervision of a family member by another is also discouraged and requires the prior approval of the Executive Vice President & Chief Financial Officer or the Senior Vice President,
People. If allowed, any personnel actions affecting that employee must also be reviewed and endorsed by the Executive Vice President & Chief Financial Officer or the Senior Vice President, People. 

Health and Safety 
 Postmedia Network is
committed to providing a healthy and safe workplace in compliance with applicable laws, rules and regulations. Postmedia Personnel must be aware of the safety issues and policies that affect their job, other Postmedia Personnel and the community in
general. As a member of Postmedia Network, all members must participate in making the workplace a safe and healthy place to work. Upon learning of any circumstance affecting the health and safety of the workplace or the community, Postmedia
Personnel must act immediately to address the situation by immediately advising their manager of any workplace injury or any circumstance presenting a dangerous situation to them, other co-workers or the community in general, so that timely
corrective action can be taken. 
 WAIVERS OF THE CODE 

Any waiver of this Code for directors or members of senior management may be made only by the Board of Directors (or a committee of
the Board of Directors to whom that authority has been delegated) and will be disclosed promptly2 if required by law or stock exchange regulation, including the filing of a material change report describing the date of waiver, the parties involved, the reasons of the Board of Directors for approving
the waiver or not sanctioning the respective departure and any measures taken by the Board of Directors to address the situation. Any waiver of this Code for all other employees may be made only by the President & Chief Executive Officer.

 REPORTING ANY ILLEGAL OR UNETHICAL BEHAVIOR 
 Postmedia Network has a strong commitment to the conduct of its business in a lawful and ethical manner. Postmedia Personnel are encouraged to talk to department heads, managers or other appropriate
personnel about observed illegal or unethical behavior and when in doubt about 
  

 

	2	 The Canadian Securities Administrators consider that conduct of directors or executive officers that constitutes a material departure from the Code,
whether or not sanctioned by the Board of Directors, will likely constitute a “material change” (which would require the Company to issue a press release forthwith and to file a material change report within ten days of the change).

 
the best course of action in a particular situation. It is the policy of Postmedia Network not to allow retaliation for reports of misconduct by others made in good faith. It is, at the same
time, unacceptable to file a report knowing that it is false. All Postmedia Personnel are expected to cooperate in internal investigations of misconduct. 
 Specific procedures for the confidential and anonymous reporting of complaints concerning accounting, internal accounting control and auditing matters are provided in the Company’s Whistleblower
Policy. 
 COMPLIANCE PROCEDURES 
 All Postmedia Personnel must work to ensure prompt and consistent action against violations of this Code. However, in some situations it is difficult to know how to deal with a situation. Since we cannot
anticipate every situation that will arise, it is important that Postmedia Network have a way to approach a new question or problem. These are the steps to keep in mind: 

 

	 	•	 	 Make sure you have all the facts. In order to reach the right solutions, we must be as fully informed as possible. 

 

	 	•	 	 Ask yourself: What specifically am I being asked to do? Does it seem unethical or improper? This will help you to focus on the specific question
you are faced with and the alternatives you have. Use your judgment and common sense - if something seems unethical or improper, it probably is. 

  

	 	•	 	 Clarify your responsibility and role. In most situations, there is shared responsibility. Are your colleagues informed? It may help to get
others involved and discuss the problem. 

  

	 	•	 	 Discuss the problem with your department head. This is the basic guidance for all situations. In many cases, your department head will be more
knowledgeable about the question, and will appreciate being brought into the decision-making process. Remember that it is your department head’s responsibility to help solve problems. 

 

	 	•	 	 Seek help from Postmedia Network resources. In the rare case where it may not be appropriate to discuss an issue with your department head, or
where you do not feel comfortable approaching your department head with your question, discuss it locally with your “manager’s manager”. If that is not appropriate for any reason, contact your any member of senior management.

  

	 	•	 	 You may report ethical violations in confidence and without fear of retaliation. If your situation requires that your identity be kept
confidential, your anonymity will be protected. Postmedia Network does not permit retaliation of any kind against employees for good faith reports of ethical violations. 

 

	 	•	 	 Always ask first, act later: If you are unsure of what to do in any situation, seek guidance before you act. 

 APPLICABLE LAW 
 The provisions of this Code of Business Conduct and Ethics will be modified, as and to the extent necessary, to comply with applicable laws, regulations or policies imposed by the various jurisdictions in
which the Company and Postmedia Personnel operate.Role Profile Agreement between Postmedia Network Inc. and John Paton

 Exhibit 10.8 
 ROLE PROFILE AGREEMENT 
 THIS AGREEMENT made with effect as of the
18th day of October, 2010 
 BETWEEN: 
 POSTMEDIA NETWORK INC. (the “Company”) 
 -and- 

JOHN PATON (the “Advisor”) 
 The Company and the Executive, the parties hereby agree to the role profile as set out below. 

Role Description 
 The Advisor agrees to
act as an advisor to the Chief Executive Officer and the Company to assist in the successful implementation of the Company’s Digital First strategy. 
 Duties 
 To work with the Board, the Chief Executive Officer and any of the Company’s
employees the CEO designates to implement the Digital First strategy with a focus on the following key areas: 
  

	 	1.	Cost-effective creation of multi-platform content. 

  

	 	2.	Effective integration of sales teams and sales strategies for multi-platform ad sales. 

 

	 	3.	Implementation and execution on legacy media cost reductions. 

  

	 	4.	Report quarterly to management and the Board on digital trends and developments in newspaper and related fields. 

 

	 	5.	Report quarterly to the Board on advisory activities and impression on how the Company is performing in relation to the Digital First Strategy.

 Time Commitment 
 Meetings will be held in person and by telephone, to include at a minimum: 
  

	 	1.	Two days per month in person for meetings at Postmedia. 

  

	 	2.	Calls with the Chief Executive Officer; Chief Transformation Officer, EVP Digital and other members of the Company’s senior executive team, as necessary.

  

	 	3.	Participate as a member of the Company’s Transformation Committee. 

  

	 	4.	Participate as a member of the Company’s proposed Advisory Board. 

 Term 
 The term of this appointment is for one-year to be reviewed for renewal annually,
with first term expiring August 2011. 
 Compensation 
 The annual compensation for this role is $150,000, which includes all duties discussed above, including the Company’s proposed Advisory Board. 

Postmedia Network Inc. 
  

	
	 /s/ Paul Godfrey

	 Paul Godfrey

President and Chief Executive Officer

 The above terms and conditions are hereby acknowledged and accepted this 18th day of October, 2010. 
  

	
	  
 /s/ John
Paton

	John Paton

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