Document:

FORM OF INTRAWEST RESORTS HOLDINGS,
INC.

2014 OMNIBUS INCENTIVE PLAN

 

Section 1.              
Purpose of Plan.

 

The name of the Plan is the Intrawest Resorts
Holdings, Inc. 2014 Omnibus Incentive Plan (the “Plan”). The purposes of the Plan are to provide an additional
incentive to selected officers, employees, non-employee directors, independent contractors, and consultants
of the Company or its Affiliates (as hereinafter defined) whose contributions are essential to the growth and success of the business
of the Company and its Affiliates, in order to strengthen the commitment of such persons to the Company and its Affiliates, motivate
such persons to faithfully and diligently perform their responsibilities and attract and retain competent and dedicated persons
whose efforts will result in the long-term growth and profitability of the Company and its Affiliates.  To accomplish such
purposes, the Plan provides that the Company may grant Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units,
Stock Bonuses, Other Stock-Based Awards, Cash Awards or any combination of the foregoing.

 

Section 2.              
Definitions. 

 

For purposes of the Plan, the following terms
shall be defined as set forth below:

 

(a)               
“Administrator” means the Board, or, if and to the extent the Board does not administer the Plan,
the Committee in accordance with Section 3 hereof.

 

(b)              
“Affiliate” means a Person that directly, or indirectly through one or more intermediaries, controls,
or is controlled by, or is under common control with, the Person specified.

 

(c)               
“Award” means any Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Stock
Bonus, Other Stock-Based Award or Cash Award granted under the Plan.

 

(d)              
“Award Agreement” means any written agreement, contract or other instrument or document evidencing
an Award.

 

(e)               
“Base Price” has the meaning set forth in Section 8(b) hereof.

 

(f)               
“Beneficial Owner” (or any variant thereof) has the meaning defined in Rule 13d-3 under the
Exchange Act.

 

(g)              
“Board” means the Board of Directors of the Company.

 

(h)              
“By-Laws” means the by-laws of the Company, as may be amended and/or restated from time to time.

 

(i)                
“Cash Award” means an Award granted pursuant to Section 12 hereof.

 

    	 

    	 

    

(j)                
“Cause” has the meaning assigned to such term in the Award Agreement or in any individual employment
or severance agreement with the Participant or, if any such agreement does not define “Cause,” Cause means (i) the
commission of an act of fraud or dishonesty by the Participant in the course of the Participant’s employment; (ii) the indictment
of, or entering of a plea of nolo contendere by, the Participant for a crime constituting a felony or in respect of any
act of fraud or dishonesty; (iii) the commission of an act by the Participant which would make the Participant or the Company (including
any of its Subsidiaries or Affiliates) subject to being enjoined, suspended, barred or otherwise disciplined for violation of federal
or state securities laws, rules or regulations, including a statutory disqualification; (iv) gross negligence or willful misconduct
in connection with the Participant’s performance of his or her duties in connection with the Participant’s employment
by the Company (including any Subsidiary or Affiliate for whom the Participant may be employed on a full-time basis at the time)
or the Participant’s failure to comply with any of the restrictive covenants to which the Participant is subject; (v) the
Participant’s willful failure to comply with any material policies or procedures of the Company as in effect from time to
time provided that the Participant shall have been delivered a copy of such policies or notice that they have been posted on a
Company website prior to such compliance failure; or (vi) the Participant’s failure to perform the material duties in connection
with the Participant’s position, unless the Participant remedies the failure referenced in this clause (vi) no later than
ten (10) days following delivery to the Participant of a written notice from the Company (including any of its Subsidiaries or
Affiliates) describing such failure in reasonable detail (provided that the Participant shall not be given more than one opportunity
in the aggregate to remedy failures described in this clause (vi)).

 

(k)              
“Certificate of Incorporation” means the amended and restated certificate of incorporation of
the Company, as may be further amended and/or restated from time to time.

 

(l)                
“Change in Capitalization” means any (1) merger, consolidation, reclassification, recapitalization,
spin-off, spin-out, repurchase or other reorganization or corporate transaction or event, (2) special or extraordinary dividend
or other extraordinary distribution (whether in the form of cash, Common Stock, or other property), stock split, reverse stock
split, subdivision or consolidation, (3) combination or exchange of shares, or (4) other change in corporate structure, which,
in any such case, the Committee determines, in its sole discretion, affects the Common Stock such that an adjustment pursuant to
Section 5 hereof is appropriate.

 

(m)            
“Change in Control” means an event set forth in any one of the following paragraphs shall have
occurred:

 

(1)              
any Person other than any Permitted Transferee is or becomes the Beneficial Owner, directly or indirectly, of securities
of the Company (not including in the securities beneficially owned by such Person or any securities acquired directly from the
Company or any Affiliate thereof) representing 50% or more of the combined voting power of the Company’s then outstanding
securities, excluding any Person who becomes such a Beneficial Owner in connection with a transaction described in clause (I) of
paragraph (3) below; or

 

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(2)              
the following individuals cease for any reason to constitute a majority of the number of directors then serving on
the Board:  individuals who, on the date hereof, constitute the Board and any new director (other than a director whose initial
assumption of office is in connection with an actual or threatened election contest, including, but not limited to, a consent solicitation,
relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by
the Company’s shareholders was approved or recommended by a vote of at least two-thirds (2/3) of the directors then still
in office who either were directors on the date hereof or whose appointment, election or nomination for election was previously
so approved or recommended (“Incumbent Directors”); or

 

(3)              
there is consummated a merger or consolidation of the Company or any direct or indirect Subsidiary with any other
corporation or other entity, other than (I) a merger or consolidation which results in (A) the voting securities of the Company
outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving entity or any parent thereof), in combination with the ownership of any trustee
or other fiduciary holding securities under an employee benefit plan of the Company or any Subsidiary, more than 50% of the combined
voting power of the securities of the Company or such surviving entity or any parent thereof outstanding immediately after such
merger or consolidation and (B) the Incumbent Directors continuing immediately thereafter to represent at least a majority of the
board of directors of the Company, the entity surviving such merger or consolidation or, if the Company or the entity surviving
such merger is then a Subsidiary, the ultimate parent thereof, or (II) a merger or consolidation effected to implement a recapitalization
of the Company (or similar transaction) in which no Person is or becomes the Beneficial Owner, directly or indirectly, of securities
of the Company (not including in the securities Beneficially Owned by such Person any securities acquired directly from the Company
or its Affiliates) representing 50% or more of the combined voting power of the Company’s then outstanding securities; or

 

(4)              
the shareholders of the Company approve a plan of complete liquidation or dissolution of the Company or there is
consummated an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets,
other than (A) a sale or disposition by the Company of all or substantially all of the Company’s assets to an entity,
at least fifty percent (50%) of the combined voting power of the voting securities of which are owned by shareholders of the Company
following the completion of such transaction in substantially the same proportions as their ownership of the Company immediately
prior to such sale or (B) a sale or disposition of all or substantially all of the Company’s assets immediately following
which the individuals who comprise the Board immediately prior thereto constitute at least a majority of the board of directors
of the entity to which such assets are sold or disposed or, if such entity is a subsidiary, the ultimate parent thereof.

 

Notwithstanding
the foregoing, (i) a Change in Control shall not be deemed to have occurred by virtue of the consummation of any transaction
or series of integrated transactions immediately following which the holders of Common Shares immediately prior to such transaction
or series of transactions continue to have substantially the same proportionate ownership in an entity which owns all or substantially
all of the assets of the Company immediately following such transaction or series of transactions and (ii) for
each Award that constitutes deferred compensation under Section 409A of the Code, and to the extent required to avoid accelerated
taxation and/or tax penalties under Section 409A of the Code, a Change in Control shall be deemed to have occurred under the Plan
with respect to such Award only if a change in the ownership or effective control of the Company or a change in ownership of a
substantial portion of the assets of the Company shall also be deemed to have occurred under Section 409A of the Code.

 

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(n)              
“Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor
thereto.

 

(o)              
“Committee” means any committee or subcommittee the Board may appoint to administer the Plan.
Subject to the discretion of the Board, the Committee shall be composed entirely of individuals who meet the qualifications of
(i) an “outside director” within the meaning of Section 162(m) of the Code (but only to the extent necessary and desirable
to maintain qualification of Awards as “performance-based compensation” under Section 162(m) of the Code), (ii) a “non-employee
director” within the meaning of Rule 16b-3 and (iii) any other qualifications required by the applicable stock exchange
on which the Common Stock is traded.  If at any time or to any extent the Board shall not administer the Plan, then the functions
of the Administrator specified in the Plan shall be exercised by the Committee.  Except as otherwise provided in the Certificate
of Incorporation or By-laws of the Company, any action of the Committee with respect to the administration of the Plan shall be
taken by a majority vote at a meeting at which a quorum is duly constituted or unanimous written consent of the Committee’s
members.

 

(p)              
“Common Stock” means the common stock, par value $0.01 per share, of the Company.

 

(q)              
“Company” means Intrawest Resorts Holdings, Inc., a Delaware corporation (or any successor company,
except as the term “Company” is used in the definition of “Change in Control” above).

 

(r)                
“Covered Employee” has the meaning ascribed to the term “covered employee” set forth
in Section 162(m) of the Code.

 

(s)               
“Disability” means, with respect to any Participant, that such Participant (i) as determined by
the Administrator in its sole discretion, is unable to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not
less than twelve (12) months, or (ii) is, by reason of any medically determinable physical or mental impairment which can be expected
to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement
benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Company or
an Affiliate thereof.

 

(t)                
“Effective Date” has the meaning set forth in Section 20 hereof.

 

(u)              
“Eligible Recipient” means an officer, employee, non-employee director, independent
contractor or consultant of the Company or any Affiliate of the Company who has been selected as an eligible participant by the
Administrator; provided, however, to the extent required to avoid accelerated taxation and/or tax penalties under
Section 409A of the Code, an Eligible Recipient of an Option or a Stock Appreciation Right means an employee, non-employee director, independent contractor or consultant of the Company or any Affiliate of the Company with respect to whom
the Company is an “eligible issuer of service recipient stock” within the meaning of Section 409A of the Code.

 

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(v)              
“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time.

 

(w)            
“Exercise Price” means, with respect to any Option, the per share price at which a holder of such
Option may purchase such shares of Common Stock issuable upon the exercise of such Option.

 

(x)              
“Fair Market Value” of Common Stock or another security as of a particular date shall mean the
fair market value as determined by the Administrator in its sole discretion; provided, however, (i) if the Common
Stock or other security is admitted to trading on a national securities exchange, the fair market value on any date shall be the
closing sale price reported on such date, or (ii) if the Common Stock or other security is then traded in an over-the-counter market,
the fair market value on any date shall be the average of the closing bid and asked prices for such share in such over-the-counter
market for the last preceding date on which there was a sale of such share in such market.

 

(y)              
“Free Standing Right” has the meaning set forth in Section 8(a) hereof.

 

(z)               
“Option” means an option to purchase shares of Common Stock granted pursuant to Section 7 hereof.

 

(aa)           
“Other Stock-Based Award” means an Award granted pursuant to Section 10 hereof.

 

(bb)          
“Participant” means any Eligible Recipient selected by the Administrator, pursuant to the Administrator’s
authority provided for in Section 3 below, to receive grants of Awards, and, upon his or her death, his or her successors, heirs,
executors and administrators, as the case may be.

 

(cc)           
“Performance Goals” means performance goals based on one or more of the following criteria: (i)
earnings, including one or more of operating income, net operating income, earnings before or after taxes, earnings before or after
interest, depreciation, amortization, adjusted EBITDA, economic earnings, or extraordinary or special items or book value per share
(which may exclude nonrecurring items); (ii) pre-tax income or after-tax income; (iii) earnings per share (basic or diluted); (iv)
operating profit; (v) revenue, revenue growth or rate of revenue growth; (vi) return on assets (gross or net), return on investment,
return on capital, or return on equity; (vii) returns on sales or revenues; (viii) operating expenses; (ix) stock price appreciation;
(x) cash flow, free cash flow, cash flow return on investment (discounted or otherwise), net cash provided by operations, or cash
flow in excess of cost of capital; (xi) implementation or completion of critical projects or processes; (xii) cumulative earnings
per share growth; (xiii) operating margin or profit margin; (xiv) cost targets, reductions and savings, productivity and efficiencies;
(xv) strategic business criteria, consisting of one or more objectives based on meeting specified market penetration, geographic
business expansion, customer satisfaction, employee satisfaction, human resources management, supervision of litigation, information
technology, and goals relating to acquisitions, divestitures, joint ventures and similar transactions, and budget comparisons;
(xvi) personal professional objectives, including any of the foregoing performance goals, the implementation of policies and plans,
the negotiation of transactions, the development of long term business goals, formation of joint ventures, research or development
collaborations, and the completion of other corporate transactions; and (xvii) any combination of, or a specified increase in,
any of the foregoing. Where applicable, the Performance Goals may be expressed in terms of attaining a specified level of the particular
criteria or the attainment of a percentage increase or decrease in the particular criteria, and may be applied to one or more of
the Company or any Affiliate thereof, or a division or strategic business unit of the Company or any Affiliate thereof, or may
be applied to the performance of the Company relative to a market index, a group of other companies or a combination thereof, all
as determined by the Administrator. The Performance Goals may include a threshold level of performance below which no payment shall
be made (or no vesting shall occur), levels of performance at which specified payments shall be made (or specified vesting shall
occur), and a maximum level of performance above which no additional payment shall be made (or at which full vesting shall occur).
Each of the foregoing Performance Goals shall be determined in accordance with generally accepted accounting principles (to the
extent applicable) and shall be subject to certification by the Administrator; provided, that, to the extent permitted by
Section 162(m) of the Code to the extent applicable, the Administrator shall have the authority to make equitable adjustments to
the Performance Goals in recognition of unusual or non-recurring events affecting the Company or any Affiliate thereof or the financial
statements of the Company or any Affiliate thereof, in response to changes in applicable laws or regulations, or to account for
items of gain, loss or expense determined to be extraordinary or unusual in nature or infrequent in occurrence or related to the
disposal of a segment of a business or related to a change in accounting principles. Notwithstanding the foregoing, the Committee
shall take any actions pursuant to this paragraph to the extent necessary and desirable to maintain qualification of Awards as
performance-based compensation under Section 162(m) of the Code.

 

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(dd)         
“Permitted Transferee” means (i) any Affiliate (a “FIG Affiliate”) of
Fortress Investment Group LLC, a Delaware limited liability company (“FIG”), (ii) any managing director,
general partner, director, limited partner, officer or employee of any FIG Affiliate, (iii) any investment fund or other entity
managed directly or indirectly by FIG or any Affiliate thereof (each, a “FIG Fund”), (iv) any general partner,
limited partner, managing member or person occupying a similar role of or with respect to any FIG Fund or (v) Grove International
Partners LLP or any of its Affiliates.

 

(ee)           
“Person” has the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in
Sections 13(d) and 14(d) thereof.

 

(ff)            
“Plan” has the meaning set forth in Section 1 hereof.

 

(gg)          
“Related Right” has the meaning set forth in Section 8(a) hereof.

 

(hh)          
“Restricted Stock” means Shares granted pursuant to Section 9 below subject to certain restrictions
that lapse at the end of a specified period or periods.

 

(ii)              
“Restricted Stock Unit” means the right, granted pursuant to Section 9 below, to receive the Fair
Market Value of a share of Common Stock or, in the case of an Award denominated in cash, to receive the amount of cash per unit
that is determined by the Administrator in connection with the Award.

 

(jj)              
“Rule 16b-3” has the meaning set forth in Section 3(a) hereof.

 

(kk)          
“Shares” means Common Stock reserved for issuance under the Plan, as adjusted pursuant to the
Plan, and any successor (pursuant to a merger, consolidation or other reorganization) security.

 

(ll)              
“Stock Appreciation Right” means the right to receive, upon exercise of the right, the applicable
amounts as described in Section 8.

 

(mm)      
“Stock Bonus” means a bonus payable in fully vested shares of Common Stock granted pursuant to
Section 11 hereof.

 

(nn)          
“Subsidiary” means, with respect to any Person, as of
any date of determination, any other Person as to which such first Person owns or otherwise controls, directly or indirectly, more
than 50% of the voting shares or other similar interests or a sole general partner interest or managing member or similar interest
of such other Person.

 

(oo)          
“Transfer” has the meaning set forth in Section 18 hereof.

 

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Section 3.              
Administration.

 

(a)               
The Plan shall be administered by the Administrator and shall be administered in accordance with the requirements
of Section 162(m) of the Code (but only to the extent necessary and desirable to maintain qualification of Awards as performance-based
compensation under Section 162(m) of the Code) and, to the extent applicable, Rule 16b-3 under the Exchange Act (“Rule 16b-3”). 

 

(b)              
Pursuant to the terms of the Plan, the Administrator, subject, in the case of any Committee, to any restrictions
on the authority delegated to it by the Board, shall have the power and authority, without limitation:

 

(1)              
to select those Eligible Recipients who shall be Participants;

 

(2)              
to determine whether and to what extent Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units,
Stock Bonuses, Other Stock-Based Awards, Cash Awards or a combination of any of the foregoing, are to be granted hereunder to Participants;

 

(3)              
to determine the number of Shares to be covered by each Award granted hereunder;

 

(4)              
 to determine the terms and conditions, not inconsistent with the terms of the Plan, of each Award granted hereunder
(including, but not limited to, (i) the restrictions applicable to Restricted Stock or Restricted Stock Units and the conditions
under which restrictions applicable to such Restricted Stock or Restricted Stock Units shall lapse, (ii) the performance goals
and periods applicable to Awards, (iii) the Exercise Price of each Option and Base Price of each Stock Appreciation Right,
(iv) the vesting schedule applicable to each Award, (v) the number of Shares or amount of cash or other property subject
to each Award and (vi) subject to the requirements of Section 409A of the Code (to the extent applicable), any amendments
to the terms and conditions of outstanding Awards, including, but not limited to, extending the exercise period of such Awards
and accelerating the vesting schedule of such Awards);

 

(5)              
 to determine the terms and conditions, not inconsistent with the terms of the Plan, which shall govern all written
instruments evidencing Awards;

 

(6)              
to determine the Fair Market Value in accordance with the terms of the Plan;

 

(7)              
 to determine the duration and purpose of leaves of absence which may be granted to a Participant without constituting
termination of the Participant’s employment for purposes of Awards granted under the Plan;

 

(8)              
to adopt, alter and repeal such administrative rules, guidelines and practices governing the Plan as it shall from
time to time deem advisable; and

 

(9)              
 to construe and interpret the terms and provisions of the Plan and any Award issued under the Plan (and any Award
Agreement relating thereto), and to otherwise supervise the administration of the Plan and to exercise all powers and authorities
either specifically granted under the Plan or necessary and advisable in the administration of the Plan.

 

(c)               
All decisions made by the Administrator pursuant to the provisions of the Plan shall be final, conclusive and binding
on all persons, including the Company and the Participants.  No member of the Board or the Committee, nor any officer or employee
of the Company or any Subsidiary thereof acting on behalf of the Board or the Committee, shall be personally liable for any action,
omission, determination, or interpretation taken or made in good faith with respect to the Plan, and all members of the Board or
the Committee and each and any officer or employee of the Company and of any Subsidiary thereof acting on their behalf shall, to
the maximum extent permitted by law, be fully indemnified and protected by the Company in respect of any such action, omission,
determination or interpretation.

 

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Section 4.              
Shares Reserved for Issuance; Certain Limitations.

 

(a)               
The maximum number of shares of Common Stock reserved for issuance under the Plan shall be ___________ shares (subject
to adjustment as provided by Section 5).

 

(b)              
Notwithstanding anything in this Plan to the contrary, and subject to adjustment as provided by Section 5, from and
after such time, if any, as the Plan is subject to Section 162(m) of the Code:

 

(1)              
No individual (including an individual who is likely to be a Covered Employee) will be granted Options or Stock Appreciation
Rights for more than the number of shares of Common Stock reserved under Section 4(a) during any calendar year.

 

(2)               No
individual who is likely to be a Covered Employee with respect to a calendar year will be granted (A) Restricted Stock,
Restricted Stock Units, a Stock Bonus or Other Stock-Based Awards for more than the number of shares of Common Stock
reserved under Section 4(a) during any calendar year or (B) a Cash Award in cash in excess of $10,000,000 during any
calendar year.

 

(c)               
Shares issued under the Plan may, in whole or in part, be authorized but unissued Shares or Shares that shall have
been or may be reacquired by the Company in the open market, in private transactions or otherwise. If any Shares subject to an
Award are forfeited, cancelled, exchanged or surrendered or if an Award otherwise terminates or expires without a distribution
of shares to the Participant, the Shares with respect to such Award shall, to the extent of any such forfeiture, cancellation,
exchange, surrender, termination or expiration, again be available for Awards under the Plan. Notwithstanding the foregoing, Shares
that are exchanged by a Participant or withheld by the Company as full or partial payment in connection with any Option or Stock
Appreciation Right under the Plan, as well as any Shares exchanged by a Participant or withheld by the Company or any Subsidiary
to satisfy the tax withholding obligations related to any Option or Stock Appreciation Right under the Plan, shall not be available
for subsequent Awards under the Plan, and notwithstanding that a Stock Appreciation Right is settled by the delivery of a net number
of shares of Common Stock, the full number of shares of Common Stock underlying such Stock Appreciation Right shall not be available
for subsequent Awards under the Plan. Upon the exercise of any Award granted in tandem with any other Awards, such related Awards
shall be cancelled to the extent of the number of Shares as to which the Award is exercised and, notwithstanding the foregoing,
such number of shares shall no longer be available for Awards under the Plan. In addition, (i) to the extent an Award is denominated
in shares of Common Stock, but paid or settled in cash, the number of shares of Common Stock with respect to which such payment
or settlement is made shall again be available for grants of Awards pursuant to the Plan and (ii) shares of Common Stock underlying
Awards that can only be settled in cash shall not be counted against the aggregate number of shares of Common Stock available for
Awards under the Plan.

 

Section 5.              
Equitable Adjustments.

 

(a)               
In the event of any Change in Capitalization, an equitable substitution or proportionate adjustment shall be made,
in each case, as may be determined by the Administrator, in its sole discretion, in (i) the aggregate number of shares of Common
Stock reserved for issuance under the Plan and the maximum number of shares of Common Stock or cash that may be subject to Awards
granted to any Participant in any calendar year, (ii) the kind and number of securities subject to, and the Exercise Price or Base
Price of, any outstanding Options and Stock Appreciation Rights granted under the Plan, and (iii) the kind, number and purchase
price of shares of Common Stock, or the amount of cash or amount or type of other property, subject to outstanding Restricted Stock,
Restricted Stock Units, Stock Bonuses and Other Stock-Based Awards granted under the Plan; provided, however, that
any fractional shares resulting from the adjustment shall be eliminated. Such other equitable substitutions or adjustments shall
be made as may be determined by the Administrator, in its sole discretion.

 

(b)              
Without limiting the generality of the foregoing, in connection with a Change in Capitalization, the Administrator
may provide, in its sole discretion, for the cancellation of any outstanding Award in exchange for payment in cash or other property
having an aggregate Fair Market Value equal to the Fair Market Value of the shares of Common Stock, cash or other property covered
by such Award, reduced by the aggregate Exercise Price or Base Price thereof, if any; provided, however, that if
the Exercise Price or Base Price of any outstanding Award is equal to or greater than the Fair Market Value of the shares of Common
Stock, cash or other property covered by such Award, the Board may cancel such Award without the payment of any consideration to
the Participant.

 

(c)               
The determinations made by the Administrator or the Board, as applicable, pursuant to this Section 5 shall be final,
binding and conclusive.

 

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Section 6.              
Eligibility.

 

The Participants under the Plan shall be selected
from time to time by the Administrator, in its sole discretion, from those individuals that qualify as Eligible Recipients.

 

Section 7.              
Options.

 

(a)               
General. Each Participant who is granted an Option shall enter into an Award Agreement with the Company, containing
such terms and conditions as the Administrator shall determine, in its sole discretion, which Award Agreement shall set forth,
among other things, the Exercise Price of the Option, the term of the Option and provisions regarding exercisability of the Option.
The provisions of each Option need not be the same with respect to each Participant. More than one Option may be granted to the
same Participant and be outstanding concurrently hereunder. Options granted under the Plan shall be subject to the terms and conditions
set forth in this Section 7 and shall contain such additional terms and conditions, not inconsistent with the terms of the Plan,
as the Administrator shall deem desirable and set forth in the applicable Award Agreement. Each Option granted hereunder is intended
to be a non-qualified Option and is not intended to qualify as an “incentive stock option” within the meaning of Section
422 of the Code.

 

(b)              
Exercise Price. The Exercise Price of Shares purchasable under an Option shall be determined by the Administrator
in its sole discretion at the time of grant, but in no event shall the exercise price of an Option be less than one hundred percent
(100%) of the Fair Market Value of the related shares of Common Stock on the date of grant.

 

(c)               
Option Term. The maximum term of each Option shall be fixed by the Administrator, but no Option shall be exercisable
more than ten (10) years after the date such Option is granted. Each Option’s term is subject to earlier expiration pursuant
to the applicable provisions in the Plan and the Award Agreement. Notwithstanding the foregoing, the Administrator shall have the
authority to accelerate the exercisability of any outstanding Option at such time and under such circumstances as the Administrator,
in its sole discretion, deems appropriate.

 

(d)              
Exercisability. Each Option shall be exercisable at such time or times and subject to such terms and conditions,
including the attainment of pre-established performance goals, as shall be determined by the Administrator in the applicable Award
Agreement. The Administrator may also provide that any Option shall be exercisable only in installments, and the Administrator
may waive such installment exercise provisions at any time, in whole or in part, based on such factors as the Administrator may
determine in its sole discretion. Notwithstanding anything to the contrary contained herein, an Option may not be exercised for
a fraction of a share.

 

(e)               
Method of Exercise. Options may be exercised in whole or in part by giving written notice of exercise to the
Company specifying the number of whole Shares to be purchased, accompanied by payment in full of the aggregate Exercise Price of
the Shares so purchased in cash or its equivalent, as determined by the Administrator.  As determined by the Administrator,
in its sole discretion, with respect to any Option or category of Options, payment in whole or in part may also be made (i) by
means of consideration received under any cashless exercise procedure approved by the Administrator (including the withholding
of Shares otherwise issuable upon exercise), (ii) in the form of unrestricted Shares already owned by the Participant which
have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option shall
be exercised, (iii) any other form of consideration approved by the Administrator and permitted by applicable law or (iv) any
combination of the foregoing.

 

(f)               
Rights as Stockholder. A Participant shall have no rights to dividends or distributions or any other rights
of a stockholder with respect to the Shares subject to an Option until the Participant has given written notice of the exercise
thereof, has paid in full for such Shares and has satisfied the requirements of Section 17 hereof.

 

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(g)              
Termination of Employment or Service. Unless the applicable Award Agreement provides otherwise, in the event
that the employment or service of a Participant with the Company and all Affiliates thereof shall terminate, any Options then held
by the Participant shall be treated as follows:

 

(1)              
If such termination is for any reason other than Cause, Disability, or death (including a termination by reason of
the employer or other service recipient of the Participant ceasing to be a Subsidiary or Affiliate of the Company, as applicable),
(A) Options granted to such Participant, to the extent that they are exercisable at the time of such termination, shall remain
exercisable until the date that is ninety (90) days after such termination, on which date they shall expire, and (B) Options granted
to such Participant, to the extent that they were not exercisable at the time of such termination, shall expire at the close of
business on the date of such termination. The ninety (90) day period described in this Section 7(g)(1) shall be extended to one
(1) year after the date of such termination in the event of the Participant’s death during such ninety (90) day period. Notwithstanding
the foregoing, no Option shall be exercisable after the expiration of its term.

 

(2)              
If such termination is on account of the Disability, or death of the Participant, (A) Options granted to such Participant,
to the extent that they were exercisable at the time of such termination, shall remain exercisable until the date that is one (1)
year after such termination, on which date they shall expire and (B) Options granted to such Participant, to the extent that they
were not exercisable at the time of such termination, shall expire at the close of business on the date of such termination. Notwithstanding
the foregoing, no Option shall be exercisable after the expiration of its term.

 

(3)              
If such termination is for Cause, all outstanding Options granted to such Participant (whether exercisable or not
immediately prior to such termination) shall expire at the commencement of business on the date of such termination.

 

(h)              
Other Change in Employment Status. An Option shall be affected, both with regard to vesting schedule and termination,
by leaves of absence, changes from full-time to part-time employment, partial disability or other changes in the employment status
of an Participant, in the discretion of the Administrator.

 

Section 8.              
Stock Appreciation Rights.

 

(a)               
General. Stock Appreciation Rights may be granted either alone (“Free Standing Rights”)
or in conjunction with all or part of any Option granted under the Plan (“Related Rights”). Related Rights may
be granted either at or after the time of the grant of such Option. The Administrator shall determine the Eligible Recipients to
whom, and the time or times at which, grants of Stock Appreciation Rights shall be made, the number of Shares to be awarded, the
Base Price, and all other conditions of Stock Appreciation Rights. Notwithstanding the foregoing, no Related Right may be granted
for more Shares than are subject to the Option to which it relates. The provisions of Stock Appreciation Rights need not be the
same with respect to each Participant. Stock Appreciation Rights granted under the Plan shall be subject to the following terms
and conditions set forth in this Section 8 and shall contain such additional terms and conditions, not inconsistent with the terms
of the Plan, as the Administrator shall deem desirable, as set forth in the applicable Award Agreement.

 

(b)              
Base Price. Each Stock Appreciation Right shall be granted with a base price that is not less than one hundred
percent (100%) of the Fair Market Value of the related shares of Common Stock on the date of grant (such amount, the “Base
Price”).

 

(c)               
Awards; Rights as Stockholder. A Participant shall have no rights to dividends or any other rights of a stockholder
with respect to the shares of Common Stock, if any, subject to a Stock Appreciation Right until the Participant has given written
notice of the exercise thereof and has satisfied the requirements of Section 17 hereof.

 

(d)              
Exercisability.

 

(1)              
Stock Appreciation Rights that are Free Standing Rights shall be exercisable at such time or times and subject to
such terms and conditions as shall be determined by the Administrator in the applicable Award Agreement.

 

(2)              
Stock Appreciation Rights that are Related Rights shall be exercisable only at such time or times and to the extent
that the Options to which they relate shall be exercisable in accordance with the provisions of Section 7 hereof and this Section
8 of the Plan.

 

    	10

    	 

    

(e)               
Consideration Upon Exercise.

 

(1)              
Upon the exercise of a Free Standing Right, the Participant shall be entitled to receive up to, but not more than,
that number of Shares equal in value to (i) the excess of the Fair Market Value as of the date of exercise over the Base Price
per share specified in the Free Standing Right, multiplied by (ii) the number of Shares in respect of which the Free Standing Right
is being exercised.

 

(2)              
A Related Right may be exercised by a Participant by surrendering the applicable portion of the related Option. Upon
such exercise and surrender, the Participant shall be entitled to receive up to, but not more than, that number of Shares equal
in value to (i) the excess of the Fair Market Value as of the date of exercise over the Exercise Price specified in the related
Option, multiplied by (ii) the number of Shares in respect of which the Related Right is being exercised. Options which have been
so surrendered, in whole or in part, shall no longer be exercisable to the extent the Related Rights have been so exercised.

 

(3)              
Notwithstanding the foregoing, the Administrator may determine to settle the exercise of a Stock Appreciation Right
in cash (or in any combination of Shares and cash).

 

(f)               
Termination of Employment or Service.

 

(1)              
Unless the applicable Award Agreement provides otherwise, in the event that the employment or service of a Participant
with the Company and all Affiliates thereof shall terminate, any Free Standing Rights then held by the Participant shall be treated
as follows:

 

(i)                
If such termination is for any reason other than Cause, Disability, or death (including a termination by reason of
the employer or other service recipient of the Participant ceasing to be a Subsidiary or Affiliate of the Company, as applicable),
(A) Free Standing Rights granted to such Participant, to the extent that they are exercisable at the time of such termination,
shall remain exercisable until the date that is ninety (90) days after such termination, on which date they shall expire, and (B)
Free Standing Rights granted to such Participant, to the extent that they were not exercisable at the time of such termination,
shall expire at the close of business on the date of such termination. The ninety (90) day period described in this Section 8(f)(1)
shall be extended to one (1) year after the date of such termination in the event of the Participant’s death during such
ninety (90) day period. Notwithstanding the foregoing, no Free Standing Rights shall be exercisable after the expiration of its
term.

 

(ii)              
If such termination is a result of the Disability, or death of the Participant, (A) Free Standing Rights granted
to such Participant, to the extent that they were exercisable at the time of such termination, shall remain exercisable until the
date that is one (1) year after such termination, on which date they shall expire and (B) Free Standing Rights granted to such
Participant, to the extent that they were not exercisable at the time of such termination, shall expire at the close of business
on the date of such termination. Notwithstanding the foregoing, no Free Standing Rights shall be exercisable after the expiration
of its term.

 

    	11

    	 

    

(iii)            
If such termination is for Cause, all outstanding Free Standing Rights granted to such Participant (whether exercisable
or not immediately prior to such termination) shall expire at the commencement of business on the date of such termination.

 

(2)              
In the event of the termination of employment or service with the Company and all Affiliates thereof of a Participant
who has been granted one or more Related Rights, such rights shall be exercisable at such time or times and subject to such terms
and conditions as set forth in the related Options.

 

(g)              
Term.

 

(1)              
The term of each Free Standing Right shall be fixed by the Administrator, but no Free Standing Right shall be exercisable
more than ten (10) years after the date such right is granted.

 

(2)              
The term of each Related Right shall be the term of the Option to which it relates, but no Related Right shall be
exercisable more than ten (10) years after the date such right is granted.

 

Section 9.              
Restricted Stock and Restricted Stock Units.

 

(a)               
General. Restricted Stock and Restricted Stock Units may be issued either alone or in addition to other awards
granted under the Plan. The Administrator shall determine the Eligible Recipients to whom, and the time or times at which, Restricted
Stock or Restricted Stock Units shall be made; the number of Shares to be awarded; the price, if any, to be paid by the Participant
for the acquisition of Restricted Stock or Restricted Stock Units; the period of time prior to which Restricted Stock or Restricted
Stock Units become vested and free of restrictions on Transfer (the “Restricted Period”); the performance objectives
(if any); and all other conditions of the Restricted Stock and Restricted Stock Units. If the restrictions, performance objectives
and/or conditions established by the Administrator are not attained, a Participant shall forfeit his or her Restricted Stock or
Restricted Stock Units, in accordance with the terms of the grant. The provisions of Restricted Stock or Restricted Stock Units
need not be the same with respect to each Participant.

 

(b)              
Awards and Certificates.

 

(1)              
Except as otherwise provided below in Section 9(c), (i) each Participant who is granted an award of Restricted Stock
may, in the Company’s sole discretion, be issued a stock certificate in respect of such Restricted Stock; and (ii) any such
certificate so issued shall be registered in the name of the Participant, and shall bear an appropriate legend referring to the
terms, conditions, and restrictions applicable to any such Award. The Company may require that the stock certificates, if any,
evidencing Restricted Stock be held in the custody of the Company until the restrictions thereon shall have lapsed, and that, as
a condition of any award of Restricted Stock, the Participant shall have delivered a stock transfer form, endorsed in blank, relating
to the Shares covered by such award. Certificates for shares of unrestricted Common Stock may, in the Company’s sole discretion,
be delivered to the Participant only after the Restricted Period has expired without forfeiture in respect of such Restricted Stock.

 

    	12

    	 

    

(2)              
With respect to Restricted Stock Units to be settled in Shares, at the expiration of the Restricted Period, stock
certificates in respect of the shares of Common Stock underlying such Restricted Stock Units may, in the Company’s sole discretion,
be delivered to the Participant, or his legal representative, in a number equal to the number of shares of Common Stock underlying
the Restricted Stock Units.

 

(3)              
Notwithstanding anything in the Plan to the contrary, any Restricted Stock or Restricted Stock Units to be settled
in Shares (at the expiration of the Restricted Period) may, in the Company’s sole discretion, be issued in uncertificated
form.

 

(4)              
Further, notwithstanding anything in the Plan to the contrary, with respect to Restricted Stock Units, at the expiration
of the Restricted Period, Shares (either in certificated or uncertificated form) or cash, as applicable, shall promptly be issued
to the Participant, unless otherwise deferred in accordance with procedures established by the Company in accordance with Section
409A of the Code, and such issuance or payment shall in any event be made no later than March 15th of the calendar year
following the year of vesting or within other such period as is required to avoid accelerated taxation and/or tax penalties under
Section 409A of the Code.

 

(c)               
Restrictions and Conditions. The Restricted Stock and Restricted Stock Units granted pursuant to this Section
9 shall be subject to the following restrictions and conditions and any additional restrictions or conditions as determined by
the Administrator at the time of grant or, subject to Section 409A of the Code where applicable, thereafter:

 

(1)              
The Administrator may, in its sole discretion, provide for the lapse of restrictions in installments and may accelerate
or waive such restrictions in whole or in part based on such factors and such circumstances as the Administrator may determine,
in its sole discretion, including, but not limited to, the attainment of certain performance related goals, the Participant’s
termination of employment or service as an officer, director, independent contractor or consultant to the Company or any Affiliate
thereof, or the Participant’s death or Disability; provided, however, that this sentence shall not apply to
any Award which is intended to qualify as performance-based compensation under Section 162(m) of the Code. Notwithstanding the
foregoing, upon a Change in Control, the outstanding Awards shall be subject to Section 14 hereof.

 

(2)              
Except as provided in the applicable Award Agreement, the Participant shall generally have the rights of a stockholder
of the Company with respect to shares of Restricted Stock during the Restricted Period, including the right to vote such shares
and to receive any dividends declared with respect to such shares. The Participant shall generally not have the rights of a stockholder
with respect to shares of Common Stock subject to Restricted Stock Units during the Restricted Period; provided, however,
that, subject to Section 409A of the Code, an amount equal to dividends declared during the Restricted Period with respect to the
number of shares of Common Stock covered by Restricted Stock Units may, to the extent set forth in an Award Agreement, be provided
to the Participant. Notwithstanding the foregoing, any dividend or dividend equivalent awarded with respect to Restricted Stock
or Restricted Stock Units shall, unless otherwise set forth in an applicable Award Agreement, be subject to the same restrictions,
conditions and risks of forfeiture as the underlying Restricted Stock or Restricted Stock Units.

 

    	13

    	 

    

(d)              
Termination of Employment or Service. The rights of Participants granted Restricted Stock or Restricted Stock
Units upon termination of employment or service with the Company and all Affiliates thereof for any reason during the Restricted
Period shall be set forth in the Award Agreement.

 

(e)               
Form of Settlement. The Administrator reserves the right in its sole discretion to provide (either at or after
the grant thereof) that any Restricted Stock Unit represent the right to receive the amount of cash per unit that is determined
by the Administrator in connection with the Award.

 

Section 10.
          Other
Stock-Based Awards. 

 

Other forms of Awards valued in whole or in
part by reference to, or otherwise based on, Common Stock, including but not limited to dividend equivalents, may be granted either
alone or in addition to other Awards (other than in connection with Options or Stock Appreciation Rights) under the Plan. Any dividend
or dividend equivalent awarded hereunder shall be subject to the same restrictions, conditions and risks of forfeiture as the underlying
Award. Subject to the provisions of the Plan, the Administrator shall have sole and complete authority to determine the individuals
to whom and the time or times at which such Other Stock-Based Awards shall be granted, the number of shares of Common Stock to
be granted pursuant to such Other Stock-Based Awards, or the manner in which such Other Stock-Based Awards shall be settled (e.g.,
in shares of Common Stock, cash or other property), or the conditions to the vesting and/or payment or settlement of such Other
Stock-Based Awards (which may include, but not be limited to, achievement of performance criteria) and all other terms and conditions
of such Other Stock-Based Awards.

 

Section 11.
          Stock
Bonuses.

 

In the event that the Administrator grants
a Stock Bonus, the Shares constituting such Stock Bonus shall, as determined by the Administrator, be evidenced in uncertificated
form or by a book entry record or a certificate issued in the name of the Participant to whom such grant was made and delivered
to such Participant as soon as practicable after the date on which such Stock Bonus is payable.

 

Section 12.
          Cash
Awards.  

 

The Administrator may grant awards that are
payable solely in cash, as deemed by the Administrator to be consistent with the purposes of the Plan, and such Cash Awards shall
be subject to the terms, conditions, restrictions and limitations determined by the Administrator, in its sole discretion, from
time to time. Cash Awards may be granted with value and payment contingent upon the achievement of performance criteria. 

 

    	14

    	 

    

Section 13.
          Special
Provisions Regarding Certain Awards. 

 

The Administrator may make Awards hereunder
to Covered Employees (or to individuals whom the Administrator believes may become Covered Employees) that are intended to qualify
as performance-based compensation under Section 162(m) of the Code. The exercisability and/or payment of such Awards may, to the
extent required to qualify as performance-based compensation under Section 162(m) of the Code, be subject to the achievement of
performance criteria based upon one or more Performance Goals and to certification of such achievement in writing by the Committee.
The Committee may in its discretion reduce the amount of such Awards that would otherwise become exercisable and/or payable upon
achievement of such Performance Goals and the certification in writing of such achievement, but may not increase such amounts.
Any such Performance Goals shall be established in writing by the Committee not later than the time period prescribed under Section
162(m) of the Code and the regulations thereunder. Notwithstanding anything set forth in the Plan to contrary, all provisions of
such Awards which are intended to qualify as performance-based compensation under Section 162(m) of the Code shall be construed
in a manner to so comply.

 

Section 14.
          Change
in Control Provisions.

 

Unless otherwise determined by the Administrator
and evidenced in an Award Agreement, in the event that (a) a Change in Control occurs, and (b) the Participant’s employment
or service is terminated by the Company, its successor or an Affiliate thereof without Cause on or after the effective date of
the Change in Control but prior to twelve (12) months following the Change in Control, then:

 

(a)               
any unvested or unexercisable portion of any Award carrying a right to exercise shall become fully vested and exercisable;
and

 

(b)              
the restrictions, deferral limitations, payment conditions and forfeiture conditions applicable to an Award granted
under the Plan shall lapse and such Awards shall be deemed fully vested and any performance conditions imposed with respect to
such Awards shall be deemed to be fully achieved.

 

If the Administrator determines in its discretion
pursuant to Section 3(b)(5) hereof to accelerate the vesting of Options and/or Stock Appreciation Rights in connection with a Change
in Control, the Administrator shall also have discretion in connection with such action to provide that all Options and/or Stock
Appreciation Rights outstanding immediately prior to such Change in Control shall expire on the effective date of such Change in
Control.

 

Section 15.
          Amendment
and Termination.

 

The Board may amend, alter or terminate the
Plan, but no amendment, alteration, or termination shall be made that would impair the rights of a Participant under any Award
theretofore granted without such Participant’s consent. Unless the Board determines otherwise, the Board shall obtain approval
of the Company’s stockholders for any amendment to the Plan that would require such approval in order to satisfy the requirements
of Section 162(m) of the Code (but only to the extent necessary and desirable to maintain qualification of Awards as performance-based
compensation under Section 162(m) of the Code), any rules of the stock exchange on which the Common Stock is traded or other applicable
law. The Administrator may amend the terms of any Award theretofore granted, prospectively or retroactively, but, subject to Section
5 of the Plan and the immediately preceding sentence, no such amendment shall impair the rights of any Participant without his
or her consent.

 

    	15

    	 

    

Section 16.
          Unfunded
Status of Plan.

 

The Plan is intended to constitute an “unfunded”
plan for incentive compensation. With respect to any payments not yet made to a Participant by the Company, nothing contained herein
shall give any such Participant any rights that are greater than those of a general creditor of the Company.

 

Section 17.
          Withholding
Taxes.

 

Each Participant shall, no later than the
date as of which the value of an Award first becomes includible in the gross income of such Participant for purposes of applicable
taxes, pay to the Company, or make arrangements satisfactory to the Administrator regarding payment of, the minimum amount of any
such applicable taxes required by law to be withheld with respect to the Award. The obligations of the Company under the Plan shall
be conditional on the making of such payments or arrangements, and the Company shall, to the extent permitted by law, have the
right to deduct any such taxes from any payment of any kind otherwise due to such Participant. Whenever cash is to be paid pursuant
to an Award, the Company shall have the right to deduct therefrom an amount sufficient to satisfy any applicable withholding tax
requirements related thereto. Whenever Shares or property other than cash are to be delivered pursuant to an Award, the Company
shall have the right to require the Participant to remit to the Company in cash an amount sufficient to satisfy any related taxes
to be withheld and applied to the tax obligations; provided, that, with the approval of the Administrator, a Participant
may satisfy the foregoing requirement by either (i) electing to have the Company withhold from delivery of Shares or other property,
as applicable, or (ii) by delivering already owned unrestricted shares of Common Stock, in each case, having a value not exceeding
the applicable taxes to be withheld and applied to the tax obligations. Such already owned and unrestricted shares of Common Stock
shall be valued at their Fair Market Value on the date on which the amount of tax to be withheld is determined and any fractional
share amounts resulting therefrom shall be settled in cash. Such an election may be made with respect to all or any portion of
the Shares to be delivered pursuant to an award. The Company may also use any other method of obtaining the necessary payment or
proceeds, as permitted by law, to satisfy its withholding obligation with respect to any Award.

 

Section 18.
          Transfer
of Awards. 

 

Until such time as the Awards are fully vested
and/or exercisable in accordance with the Plan or an Award Agreement, no purported sale, assignment, mortgage, hypothecation, transfer,
charge, pledge, encumbrance, gift, transfer in trust (voting or other) or other disposition of, or creation of a security interest
in or lien on, any Award or any agreement or commitment to do any of the foregoing (each, a “Transfer”)
by any holder thereof in violation of the provisions of the Plan or an Award Agreement will be valid, except with the prior written
consent of the Administrator, which consent may be granted or withheld in the sole discretion of the Administrator. Any purported
Transfer of an Award or any economic benefit or interest therein in violation of the Plan or an Award Agreement shall be null and
void ab initio, and shall not create any obligation or liability of the Company, and any Person purportedly acquiring any
Award or any economic benefit or interest therein transferred in violation of the Plan or an Award Agreement shall not be entitled
to be recognized as a holder of any shares of Common Stock or other property underlying such Award. Unless otherwise determined
by the Administrator in accordance with the provisions of the immediately preceding sentence, an Option may be exercised, during
the lifetime of the Participant, only by the Participant or, during any period during which the Participant is under a legal disability,
by the Participant’s guardian or legal representative.

 

    	16

    	 

    

Section 19.
          Continued
Employment or Service. 

 

The adoption of the Plan shall not confer
upon any Eligible Recipient any right to continued employment or service with the Company or any Affiliate thereof, as the case
may be, nor shall it interfere in any way with the right of the Company or any Affiliate thereof to terminate the employment or
service of any of its Eligible Recipients at any time.

 

Section 20.
          Effective
Date.

 

The Plan was adopted by the Board on __________
__, 2014, and shall become effective without further action as of the later of (a) the effectiveness of the Company’s registration
statement on Form S-1 filed with the U.S. Securities and Exchange Commission on November 12, 2013, as amended, and (b) the Common
Stock being listed or approved for listing upon notice of issuance on the New York Stock Exchange (the date of such effectiveness,
the “Effective Date”).

 

Section 21.
          Term
of Plan.

 

No award shall be granted pursuant to the
Plan on or after the tenth anniversary of the Effective Date, but awards theretofore granted may extend beyond that date.

 

Section 22.
          Securities
Matters and Regulations.

 

(a)               
Notwithstanding anything herein to the contrary, the obligation of the Company to sell or deliver Common Stock with
respect to any Award granted under the Plan shall be subject to all applicable laws, rules and regulations, including all applicable
federal and state securities laws, and the obtaining of all such approvals by governmental agencies as may be deemed necessary
or appropriate by the Administrator. The Administrator may require, as a condition of the issuance and delivery of certificates
evidencing shares of Common Stock pursuant to the terms hereof, that the recipient of such shares make such agreements and representations,
and that such certificates bear such legends, as the Administrator, in its sole discretion, deems necessary or advisable.

 

    	17

    	 

    

(b)              
Each Award is subject to the requirement that, if at any time the Administrator determines that the listing, registration
or qualification of Common Stock issuable pursuant to the Plan is required by any securities exchange or under any state or federal
law, or the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection
with, the grant of an Award or the issuance of Common Stock, no such Award shall be granted or payment made or Common Stock issued,
in whole or in part, unless listing, registration, qualification, consent or approval has been effected or obtained free of any
conditions not acceptable to the Administrator.

 

(c)               
In the event that the disposition of Common Stock acquired pursuant to the Plan is not covered by a then current
registration statement under the Securities Act and is not otherwise exempt from such registration, such Common Stock shall be
restricted against transfer to the extent required by the Securities Act or regulations thereunder, and the Administrator may require
a Participant receiving Common Stock pursuant to the Plan, as a condition precedent to receipt of such Common Stock, to represent
to the Company in writing that the Common Stock acquired by such Participant is acquired for investment only and not with a view
to distribution.

 

Section 23.
          Notification
of Election Under Section 83(b) of the Code. 

 

If any Participant shall, in connection with
the acquisition of shares of Common Stock under the Plan, make the election permitted under Section 83(b) of the Code, such Participant
shall notify the Company of such election within ten (10) days after filing notice of the election with the Internal Revenue Service.

 

Section 24.
          No
Fractional Shares. 

 

No fractional shares of Common Stock shall
be issued or delivered pursuant to the Plan. The Administrator shall determine whether cash, other Awards, or other property shall
be issued or paid in lieu of such fractional shares or whether such fractional shares or any rights thereto shall be forfeited
or otherwise eliminated.

 

Section 25.
          Beneficiary.

 

A Participant may file with the Administrator
a written designation of a beneficiary on such form as may be prescribed by the Administrator and may, from time to time, amend
or revoke such designation. If no designated beneficiary survives the Participant, the executor or administrator of the Participant’s
estate shall be deemed to be the Participant’s beneficiary.

 

Section 26.
          Paperless
Administration.

 

In the event that the Company establishes,
for itself or using the services of a third party, an automated system for the documentation, granting or exercise of Awards, such
as a system using an internet website or interactive voice response, then the paperless documentation, granting or exercise of
Awards by a Participant may be permitted through the use of such an automated system.

 

    	18

    	 

    

Section 27.
          Severability.

 

If any provision of the Plan is held to be
invalid or unenforceable, the other provisions of the Plan shall not be affected but shall be applied as if the invalid or unenforceable
provision had not been included in the Plan.

 

Section 28.
          Clawback.

 

Notwithstanding any other provisions in this
Plan, any Award which is subject to recovery under any law, government regulation or stock exchange listing requirement, will be
subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation or stock exchange
listing requirement (or any policy adopted by the Company pursuant to any such law, government regulation or stock exchange listing
requirement).

 

Section 29.
          Section
409A of the Code.

 

The Plan as well as payments and benefits
under the Plan are intended to be exempt from, or to the extent subject thereto, to comply with Section 409A of the Code, and,
accordingly, to the maximum extent permitted, the Plan shall be interpreted in accordance therewith. Notwithstanding anything contained
herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A of
the Code, the Participant shall not be considered to have terminated employment or service with the Company for purposes of the
Plan and no payment shall be due to the Participant under the Plan or any Award until the Participant would be considered to have
incurred a “separation from service” from the Company and its Affiliates within the meaning of Section 409A of the
Code. Any payments described in the Plan that are due within the “short term deferral period” as defined in Section
409A of the Code shall not be treated as deferred compensation unless applicable law requires otherwise. Notwithstanding anything
to the contrary in the Plan, to the extent that any Awards (or any other amounts payable under any plan, program or arrangement
of the Company or any of its Affiliates) are payable upon a separation from service and such payment would result in the imposition
of any individual tax and penalty interest charges imposed under Section 409A of the Code, the settlement and payment of such awards
(or other amounts) shall instead be made on the first business day after the date that is six (6) months following such separation
from service (or death, if earlier). Each amount to be paid or benefit to be provided under this Plan shall be construed as a separate
identified payment for purposes of Section 409A of the Code. The Company makes no representation that any or all of the payments
or benefits described in this Plan will be exempt from or comply with Section 409A of the Code and makes no undertaking to preclude
Section 409A of the Code from applying to any such payment. The Participant shall be solely responsible for the payment of any
taxes and penalties incurred under Section 409A.

 

Section 30.
          Governing
Law.

 

The Plan shall be governed by and construed
in accordance with the laws of the State of Delaware, without giving effect to principles of conflicts of law of such state.

 

 

    	19AMENDED
AND RESTATED EMPLOYMENT AGREEMENT

THIS
AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”), is made and entered into effective as of
January 20, 2014 (the “Effective Date”), by and between Intrawest Resorts Holdings, Inc., a Delaware corporation
(the “Corporation”), and William A. Jensen (the “Executive”). Where the context permits,
references to “the Corporation” shall include the Corporation and any successor to the Corporation.

WHEREAS,
Intrawest ULC (a subsidiary of the Corporation) and the Executive previously entered into an employment agreement, effective as
of June 30, 2010, as amended on each of November 1, 2010 and December 31, 2012 (the “Original Agreement”);
and

WHEREAS,
the Corporation and the Executive mutually desire to amend and restate the Original Agreement in its entirety as of the Effective
Date, subject to the terms and conditions set forth in this Agreement, pursuant to which the Executive will continue to serve
as the Chief Executive Officer of the Corporation.

NOW,
THEREFORE, in consideration of the mutual promises, covenants and agreements contained herein, together with other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

1.TERM
OF EMPLOYMENT. The Executive’s employment with the Corporation under the terms and conditions of this Agreement shall
commence on the Effective Date and shall continue until the termination of the Executive’s employment in accordance with
the terms and conditions of Section 5 of this Agreement (the “Employment Term”).

2.POSITION,
REPORTING AND DUTIES.

(a)Position
and Reporting. During the Employment Term, the Executive shall serve as the Chief Executive Officer of the Corporation and
shall report directly to the Board of Directors of the Corporation (the “Board”).

(b)Duties
and Responsibilities. During the Employment Term, the Executive shall (i) be a full-time employee of the Corporation
and shall dedicate all of his working time to the Corporation and its subsidiaries and shall have no other employment and no other
business ventures which are undisclosed to the Corporation or which conflict with his duties under this Agreement, provided that
this provision shall not restrict the Executive from engaging in private investment activities on behalf of himself or his immediate
family or, subject to the prior approval of the Board, serving on the board of directors (or similar position) or committees thereof
of a charitable, non-profit or civic organization so long as any such activities do not conflict with this Agreement or interfere
with the Executive’s duties or responsibilities as an officer of the Corporation and its subsidiaries and are not in respect
of a Competitive Business (as defined below) and (ii) have the normal duties, responsibilities and authority of an executive serving
as a Chief Executive Officer of a public corporation comparable to the Corporation, which duties shall comprise executive and
management functions and responsibilities, including the hiring, supervision and/or discipline of employees, the creation and
management of the Corporation’s business strategies, and the creation and enforcement of the Corporation’s policies,
subject in each case to the power of the Board or its designee to expand or limit such duties, responsibilities and authority,
either generally or in specific instances, in each case, subject to the terms of this Agreement. The Executive shall serve as
a member of the Board during the Employment Term, and as requested by the Board from time to time, as an officer and/or member
of the board of directors of any Affiliates of the Corporation, in each case for no additional compensation.

 

    	 

    	 

    

 

3.LOCATION
OF EMPLOYMENT.The principal location of the Executive’s employment with the Corporation shall be at the Corporation’s
headquarters in the Denver, Colorado area. The Executive understands and agrees that Executive may be required to travel in performing
Executive’s duties.

4.COMPENSATION
AND BENEFITS.

(a)Base
Compensation. During the Employment Term, the Corporation will pay to the Executive a base salary at the annualized rate of
$700,000 (the base salary in effect from time to time, the “Base Salary”). The Base Salary will be paid in
bi-weekly installments in accordance with the Corporation’s customary compensation practices for the Corporation’s
employees, which may be reviewed and continued or modified by the Corporation in its sole discretion from time to time. The Compensation
Committee of the Board (the “Committee”) will review the Executive’s Base Salary at least annually and
may increase the Executive’s Base Salary, but may not unilaterally reduce the Executive’s then-existing Base Salary
without the Executive’s consent and agreement.

(b)Annual
Performance-Based Incentive.

(i)The
Executive shall be eligible to continue to participate in the annual performance-based cash bonus plan in effect for similarly
situated employees of the Corporation, as may be amended by the Corporation in its sole discretion from time to time (the “Annual
Incentive Plan”). The Executive’s target annual bonus under the Annual Incentive Plan will continue to be 100%
of the Base Salary as in effect on the first day of the fiscal year to which the Annual Bonus relates. The Committee will review
the Executive’s bonus structure at least annually and may adjust such bonus structure in its sole discretion. Any amendment
to the Annual Incentive Plan by the Corporation shall not impair or otherwise adversely affect any benefits of the Executive that
vested before the amendment.

(ii)Except
as otherwise set forth in this Agreement, the Executive will not be eligible to receive a payment under the Annual Incentive Plan
unless the Executive is an active employee as of, and has not given or received notice of termination of employment as of, the
date such payment is made. Annual Bonus payments will be made as soon as practicable following completion of the Corporation’s
annual audit, which is expected to occur in October immediately following the end of the fiscal year to which the Annual Bonus
relates.

(c)Equity
Incentive Award. Subject to and as soon as practicable following the completion of the contemplated initial public offering
of the Corporation’s common stock in accordance with that certain registration statement on Form S-1 filed by the Corporation
with the U.S. Securities and Exchange Commission on November 12, 2013, as amended (such form, the “Form
S-1,” and such initial public offering, the “IPO”), the Corporation will grant to the Executive a
number of restricted stock units with an aggregate value of $3,000,000 (the “RSU Award”). The number of restricted
stock units shall be determined based on the public sale price per share of the Corporation’s common stock in the IPO. The
RSU Award will be subject to all of the terms and conditions of the Intrawest Resorts Holdings, Inc. 2014 Omnibus Incentive Plan
(the “Omnibus Plan”) and a written award agreement to be entered into between the Corporation and the Executive,
which will provide, among other things, that the restricted stock units may be settled in shares of Common Stock or cash in the
Corporation’s sole discretion.

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(d)Transaction
Bonus.

(i)The
Executive shall be eligible to receive a one-time cash lump sum payment equal to the lesser of (i) $2,000,000 and (ii) 1% of the
cash proceeds received by the “Initial Stockholders” (as defined in the Form S-1) in connection with the sale of shares
of the Corporation’s common stock offered by the Initial Stockholders in the IPO, including any shares offered by the Initial
Stockholders pursuant to the underwriters’ option to purchase additional shares thereunder (the applicable amount, the “Transaction
Bonus”). The Transaction Bonus (less applicable withholdings) will be paid to the Executive within forty (40) days following
the closing of the IPO.

(ii)For
the avoidance of doubt, any amounts received by the Corporation in respect of any shares of the Corporation’s common stock
offered directly by the Corporation in connection with the IPO will not be included in the determination of the Transaction Bonus.

(e)Employee
Benefits. The Executive will be eligible to participate in all of the Corporation’s benefit, group insurance, retirement
and perquisite plans generally available to the Corporation’s similarly situated executives from time to time (collectively
the “Plans”), subject to the terms and conditions of such Plans as are in effect and as may be amended by the
Corporation in its sole discretion from time to time.

(f)Vacation
and Paid Time-Off.

(i)The
Executive will be entitled to 25 days of paid vacation during each 12-month period commencing on the Effective Date and on each
subsequent anniversary thereof (each such 12-month period an “Anniversary Year”) in accordance with the policies
and practices of the Corporation in effect from time to time. The Executive will take vacation at such times as are reasonably
acceptable to the Corporation having regard to its operations. Any vacation days not used in an Anniversary Year will be automatically
rolled over into the next Anniversary Year, provided that the total balance of the Executive’s earned and unused vacation
at any point will not at any time exceed 37.5 days and the Executive will not earn or accrue any vacation above that maximum.

(ii)The
Executive will be entitled to additional paid time-off in respect of sick days, statutory holidays and Denver office closures
in accordance with the Corporation’s policies as in effect from time to time.

(g)Expenses.
Consistent with its policies as established from time to time, the Corporation will reimburse the Executive for all business expenses
reasonably incurred by the Executive
in connection with the performance of the Executive’s duties upon the Executive providing the Corporation with such support
for reimbursement as is required by those policies.

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(h)Insurance;
Indemnification. If the Executive is a director or officer of the Corporation and any of its Affiliates at any time, the Executive
shall from time to time be covered by such comprehensive directors’ and officers’ liability insurance and errors and
omissions liability insurance as the Corporation shall have established and maintained in respect of its directors and officers
generally at its expense. The insurance policies to be maintained by the Corporation hereunder may contain exclusions from coverage
in respect of gross negligence or mala fides acts on the part of the Executive. The Executive shall also be entitled to indemnification
rights, benefits and related expense advances and reimbursements to the same extent as any other director or officer of the Corporation
or its subsidiaries.

5.TERMINATION
OF EMPLOYMENT.

(a)Termination
by the Corporation for Cause. The Corporation may terminate this Agreement and the Executive’s employment hereunder
at any time for Cause (based on acts or omissions by the Executive). In the event of such a termination, the Corporation shall
pay to the Executive a lump-sum payment equal to the sum of the following, to the extent accrued and unpaid up to and including,
but in no case after, the date of termination of the Executive’s employment (the “Termination Date”):
(i) the Executive’s Base Salary, and (ii) the balance of the Executive’s earned and unused vacation pay, in each case
payable within fourteen (14) days after the Termination Date (the “Accrued Benefits”). For the purposes of
this agreement, “Cause” means the Executive’s:

(i)conviction
or plea of guilty or no contest to a felony or criminal offense that relates to or arises out of the manner in which the Executive
has performed his duties under this Agreement, results in material and demonstrable damage to the business or reputation of the
Corporation or any of its Affiliates or involves an act of moral turpitude by the Executive;

(ii)wilful
and continued failure to substantially perform his duties with the Corporation (other than by reason of his disability) or material
breach of this Agreement, after a written demand for substantial performance or correction of the material breach, as the case
may be, is delivered to the Executive by the Corporation and the Executive fails or refuses to resume substantial performance
or correct the material breach within ten days after such written demand is received by him;

(iii)engaging
in one or more acts which is materially damaging to the Corporation or any of its Affiliates, including acts or omissions that
constitute gross negligence by the Executive in the performance of the Executive’s duties or responsibilities;

(iv)(A)
misuse or misappropriation of the funds or assets of the Corporation or any of its Affiliates, (B) fraud or embezzlement against
the Corporation or any of its Affiliates or (C) any other act of dishonesty against the Corporation or any of its Affiliates that
is reasonably expected to result in material harm to the Corporation or any of its Affiliates, and in all cases whether by the
Executive himself or by another employee or contractor of the Corporation or any Affiliate with the authorization of or condonation
by the Executive;

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(v)breach
of his fiduciary duties or duty of loyalty to the Corporation or any of its Affiliates;

(vi)wilful
material disregard or violation of the legal rights of any employees of the Corporation or any of its Affiliates or of the Corporation’s
written policies regarding discrimination or harassment; or

(vii)the
habitual use of drugs or habitual use of alcohol to the extent that any of such uses, in the Corporation’s good faith determination,
materially interfere with the performance of the Executive’s duties hereunder.

(b)Termination
by the Corporation Without Cause or by the Executive for Good Reason. If at any time (i) the Corporation terminates the Executive’s
employment for any reason other than for Cause or (ii) the Executive terminates his employment for Good Reason (as defined below),
then the Executive shall be eligible to receive:

(i)The
Accrued Benefits, payable within fourteen (14) days after the Termination Date; and

(ii)If
the Executive (1) executes a release of all claims in a form acceptable to the Corporation (the “Release”)
and the applicable revocation period with respect thereto expires within sixty (60) days following the Termination Date and (2) continues
to comply with the Executive’s fiduciary obligations to the Corporation, the Executive’s covenants under Sections
6(d), 6(e), 6(f) and 6(g) of this Agreement and any other material ongoing obligations to which the Executive is subject, then
the Corporation shall provide the Executive with:

(A)continued
payment of the Base Salary (“Continued Base Salary”) in accordance with the Corporation’s normal payroll
practices for twelve (12) months following the Termination Date; provided that (i) such payments shall commence on the first regularly
scheduled payroll date following the date on which the Release becomes irrevocable (the “Payment Commencement Date”)
and (ii) the first such payment shall include all payments that otherwise would have been paid to the Executive pursuant to this
Section 5(b)(ii)(A) between the Termination Date and the Payment Commencement Date if such payments had commenced as of the Termination
Date; and provided further that if the Executive commences alternate employment or self-employment during such twelve month period,
the remaining Continued Base Salary payments shall be reduced in amount (to zero if applicable) by the Executive’s salary,
wages and other income received or earned or equity interests received or granted from such alternate employment or self-employment,
and the Executive hereby agrees to provide written notice to the Corporation if he commences alternate employment or self-employment
during the period of such payments;

(B)(i)
any bonus under the Annual Incentive Plan that the Executive would have been eligible to receive in respect of the most recently
completed fiscal year had the Executive been an active employee of the Corporation on the payment date, to the extent unpaid as
of the Termination Date, payable on the date bonuses are paid under the Annual Incentive Plan to then-current employees, plus
(ii) a lump-sum payment under the terms of the then-existing Annual Incentive Plan, on a pro-rata basis, equal to the product
of (x) the bonus that would have been paid to the Executive for the fiscal year in which the Termination Date occurs had he remained employed through the end of
such period and (y) a fraction, the numerator of which shall equal the number of days during the year in which the Termination
Date occurs that the Executive was employed by the Corporation and denominator of which shall equal 365, payable on the date bonuses
are paid under the Annual Incentive Plan to then-current employees; and

    	5

    	 

    

(C)continuation
of the Corporation’s contributions necessary to maintain the Executive’s coverage for the twelve (12) calendar months
immediately following the end of the calendar month in which the Termination Date occurs under the medical, dental and vision
programs in which the Executive participated immediately prior to the Termination Date, if the Executive elects COBRA continuation
coverage for those benefit programs and continues to pay the same cost as a similarly situated active employee would pay for those
programs; provided that if the Corporation determines in good faith that such contributions would cause adverse tax consequences
to the Corporation or the Executive under applicable law, the Corporation shall instead provide the Executive with monthly cash
payments during such twelve (12) month period in an amount that, prior to withholding for applicable taxes, is equal to the amount
of the Corporation’s monthly contributions referenced above.

Notwithstanding
the foregoing, to the extent required to avoid acceleration taxation or tax penalties under Section 409A of the Code, if the sixty
(60) day period referenced in this Section 5(b) begins in one taxable year and ends in a second taxable year, the Payment Commencement
Date shall occur in the second taxable year.

For
the avoidance of doubt, a termination of the Executive’s employment as a result of the Executive’s death or following
the Executive’s “disability” (as described in Section 5(e) below) shall not be considered a termination of the
Executive’s employment other than for Cause pursuant to this Agreement, and shall instead be subject solely to the provisions
set forth in Section 5(e) or 5(f), as applicable.

(c)Termination
in Connection with Change in Control. Notwithstanding anything set forth in Section 5(b) to the contrary, if, within twelve
(12) months following the consummation of a Change in Control (as defined in the Omnibus Plan), either (i) the Corporation terminates
the Executive’s employment other than for Cause or (ii) the Executive terminates his employment for Good Reason, then the
Executive shall be eligible to receive all of the payments and benefits referenced in Section 5(b), subject to all of the terms
and conditions thereof, but the Continued Base Salary payments shall extend for a period of eighteen (18) months following the
Termination Date and shall be provided in full regardless of whether the Executive commences alternate employment or self-employment
during such period.

For
purposes of this Agreement, “Good Reason” shall mean any action by the Corporation, in each case without the
Executive’s prior consent, that (i) reduces the Base Salary as then in effect (other than as part of an across-the-board
reduction affecting all senior executives of the Corporation), (ii) relocates the Executive’s principal place of employment
to a location in another country, or to a location more than fifty (50) miles from the Executive’s principal place of employment,
(iii) materially and adversely alters the nature or status of the Executive’s responsibilities or title or (iv) constitutes
an intentional material breach of this Agreement by the Corporation. Notwithstanding the foregoing, in no event shall the occurrence of any such condition constitute Good Reason unless (A) the Executive
provides notice to the Corporation of the existence of the condition giving rise to Good Reason within ninety (90) days following
its initial existence and (B) the Corporation fails to materially cure such condition within thirty (30) days following the date
of such notice, upon which failure to cure the Executive’s employment shall immediately terminate with Good Reason.

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(d)Voluntary
Resignation. If the Executive wishes to resign from the Executive’s employment voluntarily, the Executive will provide
thirty (30) days’ notice in writing to the Corporation. The Corporation may waive such notice period in whole or in part
by paying the Executive’s Base Salary and continuing the applicable group benefit plans in each case as accrued and unpaid
to the effective date of resignation. The Executive agrees that such waiver will not constitute termination of the Executive’s
employment by the Corporation. In the event of such termination, the Corporation shall only be required to provide the Executive
with the Accrued Benefits, payable within fourteen (14) days after the Termination Date.

(e)Termination
Due to Disability. In the event the Executive is either (i) unable to engage in any substantial gainful activity by reason
of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last
for a continuous period of not less than twelve (12) months, or (ii) by reason of any medically determinable physical or mental
impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve
(12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health
plan covering employees of the Corporation, the Corporation may terminate this Agreement and the Executive’s employment
hereunder by providing the Executive with notice of termination in writing, and in such case the Executive shall be eligible to
receive all of the payments and benefits referenced in Section 5(b), subject to all of the terms and conditions thereof, but the
Continued Base Salary payments shall be made in full for a period of twelve (12) months following the Termination Date regardless
of whether the Executive commences alternate employment or self-employment during such period.

(f)Termination
Due to Death. In the event of the Executive’s termination of employment due to death, the Corporation shall only be
required to provide the Executive with a lump-sum payment equal to the Accrued Benefits, payable within fourteen (14) days after
the Termination Date.

(g)Benefits
and Perquisites. All other benefits and perquisites or payments in lieu of benefits and perquisites to or with respect to
the Executive shall cease on Termination Date, except to the extent required by applicable law or pursuant to the terms of any
equity plan or agreement.

(h)Return
of Property. Upon any termination of the Executive’s employment hereunder (or at any other time upon the Corporation’s
request), and as a condition of the Corporation paying the Executive any termination payments as may be required under Section
5(b), 5(c) or 5(e) hereof (other than the Accrued Benefits), the Executive will at once deliver or cause to be delivered to the
Corporation all books, documents, effects, money, securities or other property belonging to the Corporation or its Affiliates
or for which the Corporation or its Affiliates
are liable to others, which are in the possession, charge, control or custody of the Executive.

    	7

    	 

    

(i)Resignation
as Officer or Director. Upon any termination of the Executive’s employment hereunder unless requested otherwise by the
Corporation, the Executive shall resign each position (if any) that the Executive then holds as an officer or director of the
Corporation or any of its Affiliates. The Executive’s execution of this Agreement shall be deemed the grant by the Executive
to the officers of the Corporation of a limited power of attorney to sign in the Executive’s name and on the Executive’s
behalf any such documentation as may be required to be executed solely for the limited purposes of effectuating such resignations.

6.COVENANTS.

(a)Full
Time Service. The Executive shall devote all of the Executive’s business time, attention and effort to the business
and affairs of the Corporation and its Affiliates, shall well and faithfully serve the Corporation and its Affiliates and shall
use the Executive’s best efforts to promote the interests of the Corporation and its Affiliates. The Executive shall duly
and diligently perform all of the duties assigned to him while in the employ of the Corporation and shall truthfully and faithfully
account for and deliver to the Corporation all money, securities and things of value belonging to the Corporation which the Executive
may from time to time receive for, from or on account of the Corporation.

(b)Rules,
Regulations and Policies. The Executive shall be bound by and shall faithfully observe and abide by all the rules, regulations
and policies of the Corporation and its Affiliates from time to time in force which are brought to the Executive’s notice
or of which the Executive should reasonably be aware to the extent such rules, regulations and policies are not inconsistent with
the terms of this Agreement or applicable law.

(c)Fiduciary
Obligations. The Executive is a fiduciary of the Corporation and its Affiliates. The Executive shall not permit the Executive’s
personal interests to conflict, or to appear to conflict, with the business interests of the Corporation or its Affiliates or
the Executive’s duties to the Corporation or its Affiliates. Accordingly, during the Executive’s employment hereunder,
the Executive shall not participate in the ownership of, have any financial or other involvement with or work for, any business
or enterprise competing or endeavoring to compete with the business of the Corporation or any Affiliate (other than a holding
as a passive investment of publicly listed shares that does not exceed 2% of the outstanding shares so listed) without the approval
of the Corporation.

    	8

    	 

    

(d)Confidential
Information, Non-Disparagement and Remedies.

(i)The
Executive acknowledges that by reason of the Executive’s employment with the Corporation, the Executive will have access
to Confidential Information and trade secrets of the Corporation and its and its subsidiary, affiliate or related corporations
(“Affiliates”), and that such Confidential Information and trade secrets are essential components of the business
of the Corporation and its Affiliates, and are proprietary and would be of great value and benefit to competitors of the Corporation
and Affiliates. “Confidential Information” includes anything respecting the Corporation or its Affiliates or
the business of developing, marketing,
selling and operating destination resorts (the “Business”) or their operations, and which is not made readily
available to the general public; this includes trade secrets (including, but not limited to, consumer lists), ideas, marketing
concepts, documents, designs, techniques, inventions, discoveries, copyrights, methods, forecasts, programs, research or anything
else concerning the organization, business, customers, employees, and finances of the Corporation or any of its Affiliates or
the Business. The Executive agrees that both during and after the Executive’s employment with the Corporation, the Executive
will not disclose to any individual or other entity, except in the proper course of the Executive’s employment with the
Corporation, or use for the Executive’s own purposes or for purposes other than those of the Corporation or its Affiliates,
any Confidential Information or trade secrets of the Corporation or its Affiliates, acquired by the Executive. If information
enters the public domain, except as a result of a breach of this Section 6(d)(i) by the Executive or a breach of another confidentiality
agreement to which the Corporation or an Affiliate is a party, the information will not be deemed Confidential Information or
a trade secret protected by this Section 6(d)(i). In the event that the Executive believes he is compelled by law to disclose
Confidential Information or trade secrets of the Corporation or its Affiliates, pursuant to subpoena, similar court order, or
other legal authority, the Executive will not disclose the said Confidential Information or trade secrets without giving the Corporation
reasonable advance notice of the subpoena, court order, or legal authority, and affording the Corporation the reasonable opportunity
to take legal action to contest, challenge, narrow or otherwise limit or condition the disclosure. In no event will the Executive
disclose Confidential Information or trade secrets of the Corporation or its Affiliates when the disclosure is not clearly compelled
by such subpoena, similar court order, or other legal authority.

(ii)The
Executive agrees that, both during and after the Executive’s employment with the Corporation, the Executive will not make
critical, negative or disparaging remarks about the Corporation and its Affiliates that could reasonably be expected to result
in material harm to the Corporation or any of its Affiliates, including, but not limited to, comments about any of their respective
products, services, management, business or employment practices, and will not voluntarily aid or voluntarily assist any person
in any way with respect to any third-party claims pursued against the Corporation or any of its Affiliates. Nothing in this paragraph
will prevent the Executive from (A) asserting his legal rights before an administrative agency or court of law, or from responding
fully and accurately to any question, inquiry or request for information when required by applicable law or legal process or (B)
making any critical remarks about the Corporation and its Affiliates in connection with any analyses made or opinions expressed
in the ordinary course of the Executive’s duties hereunder during the Employment Term.

(iii)The
Executive acknowledges and agrees that any breach of Section 6(d), 6(e) or 6(f) hereof will result in material and irreparable
harm to the Corporation or an Affiliate although it may be difficult for the Corporation to establish a monetary value flowing
from such harm. The Executive therefore agrees that the Corporation or an Affiliate, in addition to being entitled to monetary
damages which flow from the breach, will be entitled to injunctive relief in a court of appropriate jurisdiction (without proof
of damages or the posting of a bond) in the event of any breach by the Executive of any such Section.

    	9

    	 

    

(e)Non-Solicitation.
The Executive will not, in any manner whatsoever, directly or indirectly, without the prior written consent of the Corporation,
at any time during the Executive’s
employment hereunder and for a period of twelve (12) months immediately following the date of any termination of the Executive’s
employment for any reason, either by the Executive, or by the Corporation, with or without Cause:

(i)induce
or endeavor to induce (A) any employee of the Corporation or any of its Affiliates to leave employment with the Corporation or
an Affiliate or (B) any consultant or contractor of the Corporation or an Affiliate to terminate its relationship as such with
the Corporation or such Affiliate during any period of time that the business services provided, directly or indirectly, by such
consultant or contractor are exclusively or primarily being provided to the Corporation and its Affiliates, provided, that this
clause (i) shall not preclude customary non-targeted recruiting efforts or general solicitations that are not specifically directed
to, but which may have the effect of causing an employee, consultant or contractor to leave the employment or arrangement with
the Corporation or an Affiliate;

(ii)employ
or attempt to employ or assist any individual or other entity to employ any employee of the Corporation or an Affiliate or to
retain any consultant or contractor during any period of time that the business services provided, directly or indirectly, by
such consultant or contractor are exclusively or primarily being provided to the Corporation or an Affiliate, provided, that this
clause (ii) shall not preclude an employer of the Executive from offering employment or consulting or contracting services to
anyone without the direct or indirect assistance of the Executive; or

(iii)for
the purpose of competing with the Corporation or any of its subsidiaries, solicit, endeavor to solicit or gain the custom of,
canvass or interfere with the Corporation’s or an Affiliate’s relationship with any individual or other entity that:

(A)is
a customer or supplier of the Corporation or an Affiliate at the date hereof and/or at the date of any termination of the Executive’s
employment;

(B)was
a major customer or supplier of the Corporation or an Affiliate at any time within twenty-four (24) months prior to the date of
any termination of the Executive’s employment; or

(C)has
been pursued as a prospective major customer or supplier by or on behalf of the Corporation or an Affiliate at any time within
twelve (12) months prior to the date of any termination of the Executive’s employment, and in respect of whom the Corporation
or an Affiliate has not determined to cease all such pursuit.

(f)Non-Competition.
The Executive recognizes that, in the event for any reason whatsoever his employment with the Corporation is terminated, his knowledge
of the Confidential Information and trade secrets of the Corporation and his role in the Business may allow him to compete or
to assist a third party to compete unfairly with the Corporation or any of its subsidiaries, in various locations throughout the
U.S. and Canada. The Executive will not, in any manner whatsoever, directly or indirectly, anywhere in the U.S. or Canada:

(i)form,
carry on, engage in or be concerned with or interested in (financially or in any other capacity); or

    	10

    	 

    

(ii)advise,
lend money to, guarantee the debts or obligations of or permit the Executive’s name or any part thereof to be used in the
promotion or advancement of; or

(iii)be
employed by or render any services (as an employee, independent contractor, consultant, or otherwise) to any individual or other
entity engaged in, or concerned with or interested in,

any business
(A) in Colorado or (B) within fifty miles of a project of the Corporation or any of its subsidiaries that is the same as, substantially
similar to, or competitive with, the business of developing, marketing, selling or operating mountain resorts or adventure travel
businesses (each, a “Competitive Business”), in each case without the prior written consent of the Corporation,
at any time during the Executive’s employment hereunder and for the period of twelve (12) months immediately following the
date of any termination of the Executive’s employment for any reason whatever and with or without Cause.

Where
the Executive seeks the prior written consent of the Corporation to engage in any activities which may be in violation of this
covenant, he will provide the Corporation in advance with full disclosure of all relevant information concerning the nature and
the scope of the proposed activities and the identity of all parties with whom the Executive may be engaging in the proposed activities
and the Corporation will reasonably assess such information with a view to determining if an agreement can be reached between
the Executive and the Corporation permitting the Executive to engage in some or all of the proposed activities and not unreasonably
restricting the Executive’s professional livelihood, provided that any such agreement must be on such terms and conditions,
including that there must be no material harm to the business of the Corporation, as are acceptable to the Corporation.

(g)Cooperation.
The Executive shall provide reasonable cooperation in connection with any action or proceeding (or any appeal from any action
or proceeding) which relates to events during the Executive’s employment hereunder. The Corporation shall reimburse the
Executive for the Executive’s reasonable travel expenses incurred in connection with the foregoing, in accordance with the
Corporation’s policies and subject to the delivery of reasonable support for such expenses.

(h)Restrictions
Reasonable. The Executive confirms that all restrictions and covenants in Sections 6(d), 6(e), 6(f) and 6(g) are reasonable
and valid, and waives all objections to and defenses to the strict enforcement thereof.

(i)Acknowledgment.
The Executive acknowledges and agrees that Sections 6(e) and 6(f) hereof are fully enforceable under Colorado Revised Statute
Section 8-2-113(2) because this Agreement is a “contract for the protection of trade secrets” and the Executive serves
the Corporation in an “[e]xecutive and management personnel” capacity.

    	11

    	 

    

 7.  SECTION
280G.

(a)Treatment
of Payments. Notwithstanding anything in this Agreement or any other plan, arrangement or agreement to the contrary, in the
event that any payment or benefit received or to be received by the Executive (whether pursuant to the terms of this Agreement
or any other plan, arrangement or agreement) (all such payments and benefits, the “Total Payments”) would fail to
be deductible under Section 280G of the Code or otherwise would be subject (in whole or part) to the excise tax imposed by Section
4999 of the Code (the “Excise Tax”) then, after taking into account any reduction in the Total Payments provided
by reason of Section 280G of the Code in such other plan, arrangement or agreement, the payments or benefits to be received by
the Executive that are subject to Section 280G of the Code shall be reduced to the extent necessary so that no portion of the
Total Payments is subject to the Excise Tax but only if the net amount of such Total Payments, as so reduced (and after subtracting
the net amount of federal, state and local income taxes on such reduced Total Payments) is greater than or equal to the net amount
of such Total Payments without such reduction (but after subtracting the net amount of federal, state and local income taxes on
such Total Payments and the amount of Excise Tax to which the Executive would be subject in respect of such unreduced Total Payments).

(b)Ordering
of Reduction. In the case of a reduction in the Total Payments pursuant to Section 7(a), the Total Payments will be reduced
in the following order: (i) payments that are payable in cash that are valued at full value under Treasury Regulation Section
1.280G-1, Q&A 24(a) will be reduced (if necessary, to zero), with amounts that are payable last reduced first; (ii) payments
and benefits due in respect of any equity valued at full value under Treasury Regulation Section 1.280G-1, Q&A 24(a), with
the highest values reduced first (as such values are determined under Treasury Regulation Section 1.280G-1, Q&A 24) will next
be reduced; (iii) payments that are payable in cash that are valued at less than full value under Treasury Regulation Section
1.280G-1, Q&A 24, with amounts that are payable last reduced first, will next be reduced; (iv) payments and benefits due in
respect of any equity valued at less than full value under Treasury Regulation Section 1.280G-1, Q&A 24, with the highest
values reduced first (as such values are determined under Treasury Regulation Section 1.280G-1, Q&A 24) will next be reduced;
and (v) all other non-cash benefits not otherwise described in clauses (ii) or (iv) will be next reduced pro-rata.

(c)Certain
Determinations. For purposes of determining whether and the extent to which the Total Payments will be subject to the Excise
Tax: (i) no portion of the Total Payments the receipt or enjoyment of which the Executive shall have waived at such time and in
such manner as not to constitute a “payment” within the meaning of Section 280G(b) of the Code will be taken into
account; (ii) no portion of the Total Payments will be taken into account which, in the opinion of tax counsel (“Tax
Counsel”) reasonably acceptable to the Executive and selected by a nationally recognized accounting firm designated
by the Corporation (the “Accounting Firm”) does not constitute a “parachute payment” within the
meaning of Section 280G(b)(2) of the Code (including by reason of Section 280G(b)(4)(A) of the Code) and, in calculating the Excise
Tax, no portion of such Total Payments will be taken into account which, in the opinion of Tax Counsel, constitutes reasonable
compensation for services actually rendered, within the meaning of Section 280G(b)(4)(B) of the Code, in excess of the “base
amount” (as set forth in Section 280G(b)(3) of the Code) that is allocable to such reasonable compensation; and (iii) the
value of any non-cash benefit or any deferred payment or benefit included in the Total Payments will be determined by the Accounting
Firm in accordance with the principles of Sections 280G(d)(3) and (4) of the Code.

(d)Additional
Payments. If the Executive receives reduced payments and benefits by reason of this Section 7 and it is established pursuant
to a determination of a court of competent jurisdiction which is not subject to review or as to which the time to appeal has expired,
or pursuant
to an Internal Revenue Service proceeding, that the Executive could have received a greater amount without resulting in any Excise
Tax, then the Corporation shall thereafter pay the Executive the aggregate additional amount which could have been paid without
resulting in any Excise Tax as soon as reasonably practicable.

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8.ASSIGNMENT.
This Agreement, and all of the terms and conditions hereof, shall bind the Corporation and its successors and assigns. Neither
this Agreement, nor any of the Corporation’s rights or obligations hereunder, may be assigned or otherwise subject to hypothecation
by the Executive, and any such attempted assignment or hypothecation shall be null and void. The Corporation may assign the rights
and obligations of the Corporation hereunder, in whole or in part, to any of the Corporation’s subsidiaries, Affiliates
or parent corporations, or to any other successor or assign in connection with the sale of all or substantially all of the Corporation’s
assets or stock or in connection with any merger, acquisition and/or reorganization, provided the assignee assumes the obligations
of the Corporation hereunder.

9.GENERAL
CONTRACT PROVISIONS.

(a)No
Breach of Obligation to Others. The Executive acknowledges and represents to the Corporation that, in carrying out the Executive’s
duties and functions for the Corporation or its Affiliates, the Executive shall not disclose to the Corporation or its Affiliates
any confidential information of any third party. The Executive acknowledges and represents to the Corporation that the Executive
has not brought to the Corporation nor shall the Executive use in the performance of the Executive’s duties and functions
with the Corporation or its Affiliates any confidential materials or property of any third party. The Executive further acknowledges
and represents that the Executive is not a party to any agreement with or under any legal obligation to any previous employer
or other third party that conflicts with, or would otherwise restrict the Executive from performing, any of the Executive’s
obligations to the Corporation or its Affiliates under this Agreement.

(b)Governing
Law; Submission to Jurisdiction. This Agreement shall be governed by and construed and enforced in accordance with the laws
of the State of Colorado, without regard to any choice-of-law rules thereof which might apply the laws of any other jurisdiction.
Each party irrevocably submits to the nonexclusive jurisdiction of the courts of Colorado and all courts competent to hear appeals
from those courts with respect to any matter related to this Agreement.

(c)No
Related Party Dealings. The Executive will not be allowed to deal on behalf of the Corporation with any entity in which he
or his immediate family has an undisclosed financial interest.

(d)Entire
Agreement. This Agreement, together with the documents referred to herein, constitutes and expresses the whole agreement of
the parties hereto with reference to any of the matters or things herein provided for or herein before discussed or mentioned
with reference to the Executive’s employment, and it cancels and replaces any and all prior understandings and agreements
between the Executive and the Corporation, including, without limitation, the Original Agreement, which is cancelled and of no
further force or effect as of the Effective Date. All promises, representations, collateral agreements and understandings not
expressly incorporated in this Agreement are hereby superseded by this Agreement.

    	13

    	 

    

(e)Notice.
Any notice required or permitted to be given under this Agreement shall be in writing and shall be properly given if personally
delivered, delivered by overnight courier of national reputation (e.g., FedEx or UPS) or sent by registered mail, return receipt
requested, as follows:

	 	If
                                         to the Corporation:	Intrawest
                                         Resorts Holdings, Inc.
			1621
                                         18th Street, Suite 300

                                         Denver, CO 80202

                                         Attention: Chief General Counsel
	 	 	 
	 	If
                                         to the Executive:	to
                                         the last address of the Executive

                                         in the Corporation’s records
	 	 	 
	 	 	or c/o Intrawest Resorts Holdings, Inc.

(f)Survival.
The representations, warranties and covenants of the Executive contained in this Agreement will survive any termination of the
Executive’s employment with the Corporation.

(g)Damages.
The Executive agrees that in the event of any breach of this Agreement by the Executive damages will be an inadequate remedy and
that the Corporation will be entitled to make an application to a court of competent jurisdiction for temporary and/or permanent
injunctive relief against the Executive, without the necessity of proving actual damage to the Corporation.

(h)Severability.
If any covenant or provision contained herein is determined to be void, invalid or unenforceable in whole or in part for any reason
whatsoever, it will not be deemed to affect or impair the validity or enforceability of any other covenant or provisions hereof,
and such unenforceable covenant or provisions or part thereof will be treated as severable from the remainder of this Agreement.

(i)Amendments.
No modification, amendment or variation hereof will be of effect or binding upon the parties hereto unless agreed to in writing
by each of them and thereafter such modification, amendment or variation will have the same effect as if it had originally formed
part of this Agreement.

(j)Waiver.
No waiver by the parties hereto of any breach of any condition, covenant or agreement hereof will constitute a waiver of such
condition, covenant or agreement except in respect of the particular breach giving rise to such waiver.

(k)No
Untruths. The Executive represents and warrants that all information provided to the Corporation in any application form or
during any interview for employment was accurate and contained no untruths or misrepresentations. The Executive agrees that the
provision of any false or misleading information on an application form or during any employment interview are grounds for immediate
dismissal of the Executive by the Corporation without any further compensation payable to the Executive.

    	14

    	 

    

(l)Executive’s
Acknowledgment. The Executive acknowledges that he has read and understands the foregoing and that the Corporation has advised
him that this Agreement substantially alters and supersedes the Executive’s rights at common law. The Executive specifically
acknowledges that the Corporation has advised him to seek independent legal advice prior to executing this Agreement.

(m)Section
409A. The intent of the parties is that payments and benefits under this Agreement comply with Section 409A of the Code, to
the extent subject thereto, and accordingly, to the maximum extent permitted, this Agreement shall be interpreted and administered
to be in compliance therewith. Notwithstanding anything contained herein to the contrary, the Executive shall not be considered
to have terminated employment with the Corporation for purposes of any payments under this Agreement which are subject to Section
409A of the Code until the Executive would be considered to have incurred a “separation from service” from the Corporation
within the meaning of Section 409A of the Code. Each amount to be paid or benefit to be provided under this Agreement shall be
construed as a separate identified payment for purposes of Section 409A of the Code. Without limiting the foregoing and notwithstanding
anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties
under Section 409A of the Code, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant
to this Agreement or any other arrangement between the Executive and the Corporation during the six-month period immediately following
the Executive’s separation from service shall instead be paid on the first business day after the date that is six months
following the Executive’s separation from service (or, if earlier, the Executive’s date of death). To the extent required
to avoid an accelerated or additional tax under Section 409A of the Code, amounts reimbursable to the Executive under this Agreement
shall be paid to the Executive on or before the last day of the year following the year in which the expense was incurred and
the amount of expenses eligible for reimbursement (and in kind benefits provided to the Executive) during one year may not affect
amounts reimbursable or provided in any subsequent year. The Corporation makes no representation that any or all of the payments
described in this Agreement will be exempt from or comply with Section 409A of the Code and makes no undertaking to preclude Section
409A of the Code from applying to any such payment.

(n)Headings.
The headings of this Agreement are for convenience and reference only and in no way define, describe, extend or limit the scope
or intent of this Agreement or the intent of any provision hereof.

(o)Construction.
The parties acknowledge that this Agreement is the result of arm’s-length negotiations between sophisticated parties, each
afforded representation by legal counsel. Each and every provision of this Agreement shall be construed as though both parties
participated equally in the drafting of the same, and any rule of construction that a document shall be construed against the
drafting party shall not be applicable to this Agreement.

(p)Counterparts.
This Agreement may be executed on separate counterparts, any one (1) of which need not contain signatures of more than one (1)
party, but all of which taken together will constitute one and the same agreement.

    	15

    	 

    

(q)Tax
Withholding. The Corporation may withhold from any amounts payable under this Agreement all federal, state, city or other
taxes as the Corporation is required to withhold pursuant to any applicable law, regulation or ruling. Notwithstanding any other
provision of this Agreement, the Corporation shall not be obligated to guarantee any particular tax result for the Executive with
respect to any payment provided to the Executive hereunder, and the Executive shall be responsible for any taxes imposed on Executive
with respect to any such payment.

[remainder
of page intentionally left blank]

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IN
WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written.  

	 	 	 
	 	INTRAWEST RESORTS HOLDINGS,
INC.	 
	 	 	 
	 	By: 	/s/ Gary W. Ferrera	 
	 	 	Name:  Gary W. Ferrera
Title: Chief Financial Officer	 
	 	 	 	 
	 	EXECUTIVE	 
	 	 	 
	 	/s/ William A. Jensen	 
	 	William A. Jensen	 

 

[Signature
Page to Jensen Amended and Restated Employment Agreement]

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