Document:

EX-10.15

 Exhibit 10.15 

ALGOMA STEEL GROUP INC. 

OMNIBUS EQUITY INCENTIVE PLAN 

●, 2021 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE 1 PURPOSE
	  	 	1	
	 1.1
	 	Purpose	  	 	1	
		
	 ARTICLE 2 INTERPRETATION
	  	 	1	
	 2.1
	 	Definitions	  	 	1	
	 2.2
	 	Interpretation	  	 	9	
		
	 ARTICLE 3 ADMINISTRATION
	  	 	9	
	 3.1
	 	Administration	  	 	9	
	 3.2
	 	Delegation to Committee	  	 	10	
	 3.3
	 	Determinations Binding	  	 	11	
	 3.4
	 	Eligibility	  	 	11	
	 3.5
	 	Total Shares Subject to Awards	  	 	11	
	 3.6
	 	Limits on Grants of Awards	  	 	12	
	 3.7
	 	Award Agreements	  	 	12	
	 3.8
	 	Non-transferability of Awards	  	 	12	
		
	 ARTICLE 4 OPTIONS
	  	 	13	
	 4.1
	 	Granting of Options	  	 	13	
	 4.2
	 	Exercise Price	  	 	13	
	 4.3
	 	Term of Options	  	 	13	
	 4.4
	 	Vesting and Exercisability	  	 	13	
	 4.5
	 	Payment of Exercise Price	  	 	14	
		
	 ARTICLE 5 RESTRICTED SHARE UNITS
	  	 	14	
	 5.1
	 	Granting of RSUs	  	 	14	
	 5.2
	 	RSU Account	  	 	15	
	 5.3
	 	Vesting of RSUs	  	 	15	
	 5.4
	 	Settlement of RSUs	  	 	15	
		
	 ARTICLE 6 PERFORMANCE SHARE UNITS
	  	 	16	
	 6.1
	 	Granting of PSUs	  	 	16	
	 6.2
	 	Terms of PSUs	  	 	16	
	 6.3
	 	Performance Goals	  	 	16	
	 6.4
	 	PSU Account	  	 	17	
	 6.5
	 	Vesting of PSUs	  	 	17	
	 6.6
	 	Settlement of PSUs	  	 	17	
		
	 ARTICLE 7 DEFERRED SHARE UNITS
	  	 	18	
	 7.1
	 	Granting of DSUs	  	 	18	
	 7.2
	 	DSU Account	  	 	19	
	 7.3
	 	Vesting of DSUs	  	 	19	
	 7.4
	 	Settlement of DSUs	  	 	19	
	 7.5
	 	No Additional Amount or Benefit	  	 	20	

  
 (i) 

							
		
	 ARTICLE 8 ADDITIONAL AWARD TERMS
	  	 	20	
	 8.1
	 	Dividend Equivalents	  	 	20	
	 8.2
	 	Black-out Period	  	 	21	
	 8.3
	 	Withholding Taxes	  	 	21	
	 8.4
	 	Recoupment	  	 	21	
		
	 ARTICLE 9 TERMINATION OF EMPLOYMENT OR SERVICES
	  	 	22	
	 9.1
	 	Termination of Officer, Employee, Consultant or Director	  	 	22	
	 9.2
	 	Discretion to Permit Acceleration	  	 	23	
		
	 ARTICLE 10 EVENTS AFFECTING THE CORPORATION
	  	 	23	
	 10.1
	 	General	  	 	23	
	 10.2
	 	Change in Control	  	 	24	
	 10.3
	 	Reorganization of Corporation’s Capital	  	 	25	
	 10.4
	 	Other Events Affecting the Corporation	  	 	25	
	 10.5
	 	Immediate Acceleration of Awards	  	 	26	
	 10.6
	 	Issue by Corporation of Additional Shares	  	 	26	
	 10.7
	 	Fractions	  	 	26	
		
	 ARTICLE 11 U.S. TAXPAYERS
	  	 	26	
	 11.1
	 	Provisions for U.S. Taxpayers	  	 	26	
	 11.2
	 	ISOs	  	 	26	
	 11.3
	 	ISO Grants to 10% Shareholders	  	 	27	
	 11.4
	 	US$100,000 Per Year Limitation for ISOs	  	 	27	
	 11.5
	 	Disqualifying Dispositions	  	 	27	
	 11.6
	 	Section 409A of the Code	  	 	27	
	 11.7
	 	Section 83(b) Election	  	 	28	
	 11.8
	 	Application of Article 11 to U.S. Taxpayers	  	 	28	
		
	 ARTICLE 12 AMENDMENT, SUSPENSION OR TERMINATION OF THE PLAN
	  	 	29	
	 12.1
	 	Amendment, Suspension, or Termination of the Plan	  	 	29	
	 12.2
	 	Shareholder Approval	  	 	29	
	 12.3
	 	Permitted Amendments	  	 	30	
		
	 ARTICLE 13 MISCELLANEOUS
	  	 	30	
	 13.1
	 	Legal Requirement	  	 	30	
	 13.2
	 	No Other Benefit	  	 	31	
	 13.3
	 	Rights of Participant	  	 	31	
	 13.4
	 	Corporate Action	  	 	31	
	 13.5
	 	Conflict	  	 	31	
	 13.6
	 	Anti-Hedging Policy	  	 	31	
	 13.7
	 	Participant Information	  	 	31	
	 13.8
	 	Participation in the Plan	  	 	31	
	 13.9
	 	International Participants	  	 	32	
	 13.10
	 	Successors and Assigns	  	 	32	
	 13.11
	 	General Restrictions or Assignment	  	 	32	
	 13.12
	 	Severability	  	 	32	
	 13.13
	 	Notices	  	 	32	

  
 (ii) 

							
	 13.14
	 	Effective Date	  	 	33	
	 13.15
	 	Currency	  	 	33	
	 13.16
	 	Governing Law	  	 	33	
	 13.17
	 	Submission to Jurisdiction	  	 	33	

  
 (iii) 

 Algoma Steel Group Inc. 

Omnibus Equity Incentive Plan 

ARTICLE 1 
 PURPOSE

  

	1.1	 Purpose 

The purpose of this Plan is to provide the Corporation with a share-related mechanism to attract, retain and motivate qualified Directors,
Officers, Employees and Consultants of the Corporation and its subsidiaries, to reward such of those Directors, Officers, Employees and Consultants as may be granted Awards under this Plan by the Board from time to time for their contributions
toward the long term goals and success of the Corporation and to enable and encourage such Directors, Officers, Employees and Consultants to acquire Shares as long term investments and proprietary interests in the Corporation. 

ARTICLE 2 

INTERPRETATION 
  

	2.1	 Definitions 

When used herein, unless the context otherwise requires, the following terms have the indicated meanings, respectively: 

“Affiliate” means any entity that is an “affiliate” for the purposes of National Instrument 45-106 – Prospectus Exemptions of the Canadian Securities Administrators, as amended from time to time; 

“Award” means any Option, Restricted Share Unit, Performance Share Unit or Deferred Share Unit granted under this Plan which
may be denominated or settled in Shares or cash; 
 “Award Agreement” means a signed, written agreement between a
Participant and the Corporation, in the form or any one of the forms approved by the Plan Administrator, evidencing the terms and conditions on which an Award has been granted under this Plan and which need not be identical to any other such
agreements; 
 “Board” means the board of directors of the Corporation; 

“Business Day” means a day, other than a Saturday or Sunday, on which the principal commercial banks in the City of Toronto
are open for commercial business during normal banking hours; 
 “Canadian Taxpayer” means a Participant that is resident
of Canada for purposes of the Tax Act; 
 “Cash Fees” has the meaning set forth in Subsection 7.1(a); 

“Cashless Exercise” has the meaning set forth in Subsection 4.5(b); 

“Cause” means, with respect to a particular Participant: 

	 	(a)	 “cause” (or any similar term) as such term is defined in the employment or other written agreement
between the Corporation or a subsidiary of the Corporation and the Participant; 

  

	 	(b)	 in the event there is no written or other applicable employment or other agreement between the Corporation
or a subsidiary of the Corporation and the Participant, or “cause” (or any similar term) is not defined in such agreement, “cause” as such term is defined in the Award Agreement; or 

 

	 	(c)	 in the event neither (a) nor (b) apply, “cause” as such term is defined by applicable law or,
if not so defined, such term shall refer to circumstances where (i) an employer may terminate an individual’s employment without notice or pay in lieu thereof or other damages, or (ii) the Corporation or any subsidiary thereof may
terminate the Participant’s contract without notice or without pay in lieu thereof or other termination fee or damages; 

“Change in Control” means the occurrence of any one or more of the following events: 

 

	 	(a)	 any transaction at any time and by whatever means pursuant to which any Person or any group of two or more
Persons acting jointly or in concert (other than the Corporation or a subsidiary of the Corporation) hereafter acquires the direct or indirect “beneficial ownership” (as defined in the Securities Act (Ontario)) of, or acquires the
right to exercise Control or direction over, securities of the Corporation representing more than 50% of the total voting power represented by the voting securities of the Corporation, including, without limitation, as a result of a take-over bid,
an exchange of securities, an amalgamation of the Corporation with any other entity, an arrangement, a capital reorganization or any other business combination or reorganization; 

 

	 	(b)	 the sale, assignment or other transfer of all or substantially all of the consolidated assets of the
Corporation to a Person other than a subsidiary of the Corporation; 

  

	 	(c)	 the dissolution or liquidation of the Corporation, other than in connection with the distribution of assets
of the Corporation to one or more Persons which were Affiliates of the Corporation prior to such event; 

  

	 	(d)	 the occurrence of a transaction requiring approval of the Corporation’s shareholders whereby the
Corporation is acquired through consolidation, merger, exchange of securities, purchase of assets, amalgamation, statutory arrangement or otherwise by any other Person (other than a short form amalgamation or exchange of securities with a subsidiary
of the Corporation); or 

  

	 	(e)	 individuals who comprise the Board as of the date hereof (the “Incumbent Board”) for any
reason cease to constitute at least a majority of the members of the Board, unless the election, or nomination for election by the Corporation’s shareholders, of any new director was approved by a vote of at least a majority of the Incumbent
Board, and in that case such new director shall be considered as a member of the Incumbent Board; 

  
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 provided that, notwithstanding clause (a), (b), (c) and (d) above, a
Change in Control shall be deemed not to have occurred if immediately following the transaction set forth in clause (a), (b), (c) or (d) above: (A) the holders of securities of the Corporation that immediately prior to the consummation of such
transaction represented more than 50% of the combined voting power of the then outstanding securities eligible to vote for the election of directors of the Corporation hold (x) securities of the entity resulting from such transaction
(including, for greater certainty, the Person succeeding to assets of the Corporation in a transaction contemplated in clause (b) above) (the “Surviving Entity”) that represent more than 50% of the combined voting power of the
then outstanding securities eligible to vote for the election of directors or trustees (“voting power”) of the Surviving Entity, or (y) if applicable, securities of the entity that directly or indirectly has beneficial
ownership of 100% of the securities eligible to elect directors or trustees of the Surviving Entity (the “Parent Entity”) that represent more than 50% of the combined voting power of the then outstanding securities eligible
to vote for the election of directors or trustees of the Parent Entity, and (B) no Person or group of two or more Persons, acting jointly or in concert, is the beneficial owner, directly or indirectly, of more than 50% of the voting power of
the Parent Entity (or, if there is no Parent Entity, the Surviving Entity) (any such transaction which satisfies all of the criteria specified in clauses (A) and (B) above being referred to as a
“Non-Qualifying Transaction” and, following the Non-Qualifying Transaction, references in this definition of “Change in Control” to the
“Corporation” shall mean and refer to the Parent Entity (or, if there is no Parent Entity, the Surviving Entity) and, if such entity is a company or a trust, references to the “Board” shall mean and refer to the board of
directors or trustees, as applicable, of such entity). 
 Notwithstanding the foregoing, for purposes of any Award that
constitutes “deferred compensation” (within the meaning of Section 409A of the Code), the payment of which is triggered by or would be accelerated upon a Change in Control, a transaction will not be deemed a Change in Control for
Awards granted to any Participant who is a U.S. Taxpayer unless the transaction qualifies as “a change in control event” within the meaning of Section 409A of the Code; 

“Code” means the United States Internal Revenue Code of 1986, as amended from time to time. Any reference to a section
of the Code shall be deemed to include a reference to any regulations promulgated thereunder; 
 “Committee” has the
meaning set forth in Section 3.2; 
 “Compensation Committee” means the Compensation Committee of the Board and any
replacement or successor committee of the Board that is responsible for compensation, nominating and governance matters, or the Board if there is no such committee; 

“Consultant” means any individual or, solely to the extent permitted by any applicable securities laws, entity engaged by the
Corporation or any subsidiary of the Corporation to render consulting or advisory services (including as a director or officer of any subsidiary of the Corporation), other than as an Officer, Employee or Director, and whether or not compensated for
such services; 
 “Control” means: 

  
 - 3 - 

	 	(a)	 when applied to the relationship between a Person and a corporation, the beneficial ownership by that
Person, directly or indirectly, of voting securities or other interests in such corporation entitling the holder to exercise control and direction in fact over the activities of such corporation; 

 

	 	(b)	 when applied to the relationship between a Person and a partnership, limited partnership, trust or joint
venture, the contractual right to direct the affairs of the partnership, limited partnership, trust or joint venture; and 

  

	 	(c)	 when applied in relation to a trust, the beneficial ownership at the relevant time of more than 50% of the
property settled under the trust, and 

 the words “Controlled by”,
“Controlling” and similar words have corresponding meanings; provided that a Person who controls a corporation, partnership, limited partnership or joint venture will be deemed to Control a corporation, partnership, limited
partnership, trust or joint venture which is Controlled by such Person and so on; 
 “Corporation” means Algoma Steel Group
Inc.; 
 “Date of Grant” means, for any Award, the date specified by the Plan Administrator at the time it grants the Award
or if no such date is specified, the date upon which the Award was granted; 
 “Deferred Share Unit” or
“DSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 7; 

“Director” means a director of the Corporation who is not an Employee; 

“Director Fees” means the total compensation (including annual retainer and meeting fees, if any) paid by the Corporation to
a Director in a calendar year for service on the Board; 
 “Disabled” or “Disability”
means, with respect to a particular Participant: 
  

	 	(a)	 “disabled” or “disability” (or any similar terms) as such term is defined in the
employment or other written agreement between the Corporation or a subsidiary of the Corporation and the Participant; 

  

	 	(b)	 in the event there is no written or other applicable employment or other agreement between the Corporation
or a subsidiary of the Corporation and the Participant, or “disabled” or “disability” (or any similar terms) is not defined in such agreement, “disabled” or “disability” (or any similar terms) as such term is
defined in the Award Agreement; or 

  

	 	(c)	 in the event neither (a) or (b) apply, then the incapacity or inability of the Participant, by reason
of mental or physical incapacity, disability, illness or disease (as determined by a legally qualified medical practitioner or by a court) that prevents the Participant from carrying out their normal and essential duties as an Employee, Director or
Consultant for a continuous period of six months or for any cumulative period of 180 days in any consecutive twelve month period, the 

  
 - 4 - 

	 	 
foregoing subject to and as determined in accordance with procedures established by the Plan Administrator for purposes of this Plan; 

“Effective Date” means the effective date of this Plan, being ●, 2021; 

“Elected Amount” has the meaning set forth in Subsection 7.1(a); 

“Electing Person” means a Participant who is, on the applicable Election Date, a Director; 

“Election Date” means the date on which the Electing Person files an Election Notice in accordance with Subsection 7.1(b);

 “Election Notice” has the meaning set forth in Subsection 7.1(b); 

“Employee” means an individual who is considered by the Corporation as an employee of the Corporation or a subsidiary of the
Corporation for purposes of source deductions under applicable tax or social welfare legislation; 
 “Exchanges” means the
Nasdaq, the TSX and any other exchange on which the Shares are or may be listed from time to time; 
 “Exercise Notice”
means a notice in writing, signed by a Participant and stating the Participant’s intention to exercise a particular Option; 

“Exercise Price” means the price at which an Option Share may be purchased pursuant to the exercise of an Option; 

“Expiry Date” means, in respect of Options, the expiry date specified in the Award Agreement for an Option (which shall not
be later than the tenth anniversary of the Date of Grant) or, if not so specified, means the tenth anniversary of the Date of Grant; 

“In the Money Amount” has the meaning given to it in Subsection 4.5(b); 

“Insider” means an “insider” as defined in the rules of the Exchanges from time to time; 

“ISOs” has the meaning given to it in Section 11.1; 

“Market Price” means, at any date when the market price of Shares is to be determined: 

 

	 	(a)	 subject to paragraph (b) of this definition, if the Shares are listed on (i) the Nasdaq, the VWAP
on the Nasdaq for the five trading days immediately preceding such date on which value is determined for the grant or payment of the applicable Award (the “Nasdaq VWAP”); or (ii) the TSX, the VWAP on the TSX for the five
trading days immediately preceding such date on which value is determined for the grant or payment of the applicable Award, as applicable (the “TSX VWAP”); provided that, for so long as the Shares are listed on the TSX, the Market
Price shall not be less than the market price, as calculated under the policies of the TSX; and provided, further, that with respect to an Option granted to a U.S. Taxpayer, such Participant and the number of Shares subject to such Option shall be
identified by 

  
 - 5 - 

	 	 
the Board or the Committee prior to the start of the applicable five trading day period; 

  

	 	(b)	 if the Shares are listed on both the Nasdaq and the TSX, the greater of (i) the Nasdaq VWAP converted
into Canadian dollars using the Bank of Canada daily exchange rate published for the date on which value is determined for the grant or payment of the applicable Award; and (ii) the TSX VWAP; provided that with respect to an Option granted to a
U.S. Taxpayer, such Participant and the number of Shares subject to such Option shall be identified by the Board or the Committee prior to the start of the applicable five trading day period; 

 

	 	(c)	 if the Shares are not listed on either the Nasdaq or the TSX but are listed on another Exchange, the VWAP on
such Exchange for the five trading days immediately preceding such date on which value is determined for the grant or payment of the applicable Award, converted into Canadian dollars using the Bank of Canada daily exchange rate published for such
date if the trading price of the Shares on such Exchange is not Canadian dollars; provided that with respect to an Option granted to a U.S. Taxpayer, such Participant and the number of Shares subject to such Option shall be identified by the Board
or the Committee prior to the start of the applicable five trading day period; or 

  

	 	(d)	 if the Shares are not listed on any Exchange, the fair market value as is determined solely by the Board,
acting reasonably and in good faith, and, with respect to an Award made to a U.S. Taxpayer, in accordance with Section 409A of the Code, and such determination shall be conclusive and binding on all Persons; 

“Nasdaq” means the Nasdaq Stock Market; 

“Officer” means an Employee of the Corporation who is considered by the Corporation as an officer of the Corporation or a
subsidiary of the Corporation; 
 “Option” means a right to purchase Shares under Article 4 of this Plan that is non-assignable and non-transferable, unless otherwise approved by the Plan Administrator; 

“Option Shares” means Shares issuable by the Corporation upon the exercise of outstanding Options; 

“Participant” means a Director, Officer, Employee or Consultant to whom an Award has been granted under this Plan; 

“Participant’s Employer” means with respect to a Participant that is or was an Employee, the Corporation or such
subsidiary of the Corporation as is or, if the Participant has ceased to be employed by the Corporation or such subsidiary of the Corporation, was the Participant’s Employer; 

“Performance Goals” means performance goals 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 Corporation, a subsidiary of the Corporation, a division of the Corporation or a subsidiary of the Corporation, or an
individual, or may be applied 

  
 - 6 - 

 to the performance of the Corporation or a subsidiary of the Corporation relative to a
market index, a group of other companies or a combination thereof, or on any other basis, all as determined by the Plan Administrator in its discretion; 

“Performance Share Unit” or “PSU” means a unit equivalent in value to a Share, credited by means of a
bookkeeping entry in the books of the Corporation in accordance with Article 6; 
 “Person” means an individual, sole
proprietorship, partnership, unincorporated association, unincorporated syndicate, unincorporated organization, trust, body corporate, and a natural person in their capacity as trustee, executor, administrator or other legal representative; 

“Plan” means this Omnibus Equity Incentive Plan, as may be amended from time to time; 

“Plan Administrator” means a Person determined by the Board, which will initially be the Compensation Committee, or if the
administration of this Plan has been delegated by the Board to the Committee pursuant to Section 3.2, the Committee; 
 “PSU
Service Year” has the meaning given to it in Section 6.1; 
 “Restricted Share Unit” or
“RSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 5; 

“RSU Service Year” has the meaning given to it in Section 5.1; 

“Section 409A of the Code” or “Section 409A” means Section 409A of the
Code and all regulations, guidance, compliance programs, and other interpretive authority issued thereunder; 
 “Securities
Laws” means securities legislation, securities regulation and securities rules, as amended, and the policies, notices, instruments and blanket orders in force from time to time that govern or are applicable to the Corporation or to which it
is subject; 
 “Security Based Compensation Arrangement” means a stock option, stock option plan, employee stock purchase
plan or any other compensation or incentive mechanism involving the issuance or potential issuance of Shares to Directors, Officers, Employees and/or service providers of the Corporation or any subsidiary of the Corporation, including a share
purchase from treasury which is financially assisted by the Corporation by way of a loan, guarantee or otherwise; 

“Share” means one common share in the capital of the Corporation as constituted on the Effective Date or any share or shares
issued in replacement of common share in compliance with Canadian law or other applicable law, or after an adjustment contemplated by Article 10, such other shares or securities to which the holder of an Award may be entitled as a result of
such adjustment; 
 “subsidiary” means an issuer that is Controlled directly or indirectly by another issuer and includes a
subsidiary of that subsidiary, or any other entity in which the Corporation has an equity interest and is designated by the Plan Administrator, from time to time, for purposes of this Plan to be a subsidiary; 

“Tax Act” means the Income Tax Act (Canada) and the regulations thereunder, as amended from time to time; 

  
 - 7 - 

 “Termination Date” means, subject to applicable law which cannot be waived:

  

	 	(a)	 in the case of an Employee or Officer whose employment with the Corporation or a subsidiary of the
Corporation terminates, (i) the date designated by the Employee or Officer and the Corporation or a subsidiary of the Corporation as the “Termination Date” (or similar term) in a written employment or other agreement between the
Employee or Officer and Corporation or a subsidiary of the Corporation, or (ii) if no such written employment or other agreement exists, the date designated by the Corporation or a subsidiary of the Corporation, as the case may be, on which the
Employee or Officer ceases to be an employee or officer of the Corporation or the subsidiary of the Corporation, as the case may be, provided that, in the case of termination of employment by voluntary resignation by the Participant, such date shall
not be earlier than the date notice of resignation was given; and in any event, the “Termination Date” shall be determined without including any period of reasonable notice that the Corporation or the subsidiary of the Corporation (as the
case may be) may be required by law to provide to the Participant or any pay in lieu of notice of termination, severance pay or other damages paid or payable to the Participant; 

 

	 	(b)	 in the case of a Consultant whose agreement or arrangement with the Corporation or a subsidiary of the
Corporation terminates, (i) the date designated by the Corporation or the subsidiary of the Corporation, as the “Termination Date” (or similar term) or expiry date in a written agreement between the Consultant and Corporation or a
subsidiary of the Corporation, or (ii) if no such written agreement exists, the date designated by the Corporation or a subsidiary of the Corporation, as the case may be, on which the Consultant ceases to be a Consultant or a service provider
to the Corporation or the subsidiary of the Corporation, as the case may be, or on which the Participant’s agreement or arrangement is terminated, provided that in the case of voluntary termination by the Participant of the Participant’s
consulting agreement or other written arrangement, such date shall not be earlier than the date notice of voluntary termination was given; in any event, the “Termination Date” shall be determined without including any period of notice that
the Corporation or the subsidiary of the Corporation (as the case may be) may be required by law to provide to the Participant or any pay in lieu of notice of termination, termination fees or other damages paid or payable to the Participant;

  

	 	(c)	 in the case of a Director, the date such individual ceases to be a Director, unless the individual continues
to be a Participant in another capacity; and 

  

	 	(d)	 in the case of a U.S. Taxpayer, a Participant’s “Termination Date” will be the date the
Participant experiences a “separation from service” with the Corporation or a subsidiary of the Corporation within the meaning of Section 409A of the Code; 

“TSX” means the Toronto Stock Exchange; 

“U.S.” or “United States” means the United States of America, its territories and possessions, any State of
the United States, and the District of Columbia; 

  
 - 8 - 

 “U.S. Securities Act” means the United States Securities Act of
1933, as amended and the rules and regulations promulgated thereunder; 
 “U.S. Taxpayer” shall mean a Participant who,
with respect to an Award, is subject to taxation under the applicable U.S. tax laws; and 
 “VWAP” means the volume
weighted average closing price of the Shares, calculated by dividing the total value of the trading Shares by the total volume of such Shares traded for the relevant period. 
  

	2.2	 Interpretation 

 

	 	(a)	 Whenever the Plan Administrator exercises discretion in the administration of this Plan, the term
“discretion” means the sole and absolute discretion of the Plan Administrator. 

  

	 	(b)	 As used herein, the terms “Article”, “Section”, “Subsection” and
“clause” mean and refer to the specified Article, Section, Subsection and clause of this Plan, respectively. 

  

	 	(c)	 Words importing the singular include the plural and vice versa and words importing any gender include any
other gender. 

  

	 	(d)	 Unless otherwise specified, time periods within or following which any payment is to be made or act is to be
done shall be calculated by excluding the day on which the period begins, including the day on which the period ends, and abridging the period to the immediately preceding Business Day in the event that the last day of the period is not a Business
Day. In the event an action is required to be taken or a payment is required to be made on a day which is not a Business Day such action shall be taken or such payment shall be made by the immediately preceding Business Day. 

 

	 	(e)	 Unless otherwise specified, all references to money amounts are to Canadian currency. 

 

	 	(f)	 The headings used herein are for convenience only and are not to affect the interpretation of this Plan.

 ARTICLE 3 

ADMINISTRATION 
  

	3.1	 Administration 

This Plan will be administered by the Plan Administrator and the Plan Administrator has sole and complete authority, in its discretion, to:

  

	 	(a)	 determine the individuals to whom grants under the Plan may be made; 

 

	 	(b)	 make grants of Awards under the Plan relating to the issuance of Shares (including any combination of
Options, Restricted Share Units, Performance Share Units or 

  
 - 9 - 

	 	 
Deferred Share Units) in such amounts, to such Persons and, subject to the provisions of this Plan, on such terms and conditions as it determines including without limitation:

  

	 	(i)	 the time or times at which Awards may be granted; 

 

	 	(ii)	 the conditions under which: 

 

	 	(A)	 Awards may be granted to Participants; or 

 

	 	(B)	 Awards may be forfeited to the Corporation, 

including any conditions relating to the attainment of specified Performance Goals; 

 

	 	(iii)	 the price, if any, to be paid by a Participant in connection with the purchase of Shares covered by any
Awards; 

  

	 	(iv)	 whether restrictions or limitations are to be imposed on the Shares issuable pursuant to grants of any
Award, and the nature of such restrictions or limitations, if any; and 

  

	 	(v)	 any acceleration of exercisability or vesting, or waiver of termination regarding any Award, based on such
factors as the Plan Administrator may determine; 

  

	 	(c)	 establish the form or forms of Award Agreements; 

 

	 	(d)	 cancel, amend, adjust or otherwise change any Award under such circumstances as the Plan Administrator may
consider appropriate in accordance with the provisions of this Plan; 

  

	 	(e)	 construe and interpret this Plan and all Award Agreements; 

 

	 	(f)	 adopt, amend, prescribe and rescind administrative guidelines and other rules and regulations relating to
this Plan, including rules and regulations relating to sub-plans established for the purpose of satisfying applicable foreign laws or for qualifying for favorable tax treatment under applicable foreign laws;

  

	 	(g)	 make any designations or other classifications of Awards for tax purposes; and 

 

	 	(h)	 make all other determinations and take all other actions necessary or advisable for the implementation and
administration of this Plan. 

  

	3.2	 Delegation to Committee 

 

	 	(a)	 The initial Plan Administrator shall be the Compensation Committee. 

 

	 	(b)	 To the extent permitted by applicable law, the Board may, from time to time, assume or delegate to any
committee of the Board (the “Committee”) all or any of 

  
 - 10 - 

	 	 
the powers conferred on the Plan Administrator pursuant to this Plan, including the power to sub-delegate to any member(s) of the Committee or any
specified officer(s) of the Corporation or its subsidiaries all or any of the powers delegated by the Board. In such event, the Committee or any sub-delegate will exercise the powers delegated to it in the
manner and on the terms authorized by the delegating party. Any decision made or action taken by the Committee or any sub-delegate arising out of or in connection with the administration or interpretation of
this Plan in this context is final and conclusive and binding on the Corporation and all subsidiaries of the Corporation, all Participants and all other Persons. 

 

	3.3	 Determinations Binding 

Any decision made or action taken by the Board, the Committee or any sub-delegate to whom authority
has been delegated pursuant to Section 3.2 arising out of or in connection with the administration or interpretation of this Plan is final, conclusive and binding on the Corporation, the affected Participant(s), their legal and personal
representatives and all other Persons. 
  

	3.4	 Eligibility 

All Directors, Officers, Employees and Consultants are eligible to participate in the Plan, subject to Section 9.1(e). Participation in
the Plan is voluntary and eligibility to participate does not confer upon any Director, Officer, Employee or Consultant any right to receive any grant of an Award pursuant to the Plan. The extent to which any Director, Officer, Employee or
Consultant is entitled to receive a grant of an Award pursuant to the Plan will be determined in the sole and absolute discretion of the Plan Administrator. 
  

	3.5	 Total Shares Subject to Awards 

 

	 	(a)	 Subject to adjustment as provided for in Article 10 and any subsequent amendment to this Plan, the aggregate
number of Shares that may be issued pursuant to this Plan shall be ●1 Shares. 

  

	 	(b)	 To the extent any Awards (or portion(s) thereof) under this Plan terminate or are cancelled for any reason
prior to exercise in full, or are surrendered to the Corporation by the Participant, any Shares subject to such Awards (or portion(s) thereof) shall be added back to the number of Shares reserved for issuance under this Plan and will again become
available for issuance pursuant to the exercise of Awards granted under this Plan. 

  

	 	(c)	 Any Shares issued by the Corporation through the assumption or substitution of outstanding stock options or
other equity-based awards from an acquired company shall not reduce the number of Shares available for issuance pursuant to the exercise of Awards granted under this Plan. 

 

	1 	 NTD: To equal 5% of the outstanding Shares as of closing of the merger (calculated on a fully-diluted
basis). 

  
 - 11 - 

	3.6	 Limits on Grants of Awards 

Notwithstanding anything in this Plan: 
  

	 	(a)	 the aggregate number of Shares: 

 

	 	(i)	 issuable to Insiders at any time, under all of the Corporation’s Security Based Compensation
Arrangements, shall not exceed 5% of the Corporation’s issued and outstanding Shares; and 

  

	 	(ii)	 issued to Insiders within any one year period, under all of the Corporation’s Security Based
Compensation Arrangements, shall not exceed 5% of the Corporation’s issued and outstanding Shares; 

  

	 	(b)	 the Plan Administrator shall not make grants of Awards to Directors if, within any one financial year of the
Corporation, the aggregate fair market value on the Date of Grant of all Awards granted to any one Director under all of the Corporation’s Security Based Compensation Arrangements would exceed $150,000 (including no more than $100,000 in
Options); provided that such limits shall not apply to (i) Awards taken in lieu of any cash retainer or other Director Fees, and (ii) a one-time initial grant to a Director upon such Director joining
the Board; and 

  

	 	(c)	 the Plan Administrator shall not grant any Awards that may be denominated or settled in Shares to residents
of the United States unless such Awards and the Shares issuable upon exercise thereof are registered under the U.S. Securities Act or are issued in compliance with an available exemption from the registration requirements of the U.S. Securities Act.

  

	3.7	 Award Agreements 

Each Award under this Plan will be evidenced by an Award Agreement. Each Award Agreement will be subject to the applicable provisions of this
Plan and will contain such provisions as are required by this Plan and any other provisions that the Plan Administrator may direct. Any one officer of the Corporation is authorized and empowered to execute and deliver, for and on behalf of the
Corporation, an Award Agreement to each Participant granted an Award pursuant to this Plan. 
  

	3.8	 Non-transferability of Awards 

Except as permitted by the Plan Administrator and to the extent that certain rights may pass to a beneficiary or legal representative upon
death of a Participant, by will or as required by law, no assignment or transfer of Awards, whether voluntary, involuntary, by operation of law or otherwise, vests any interest or right in such Awards whatsoever in any assignee or transferee and
immediately upon any assignment or transfer, or any attempt to make the same, such Awards will terminate and be of no further force or effect. To the extent that certain rights to exercise any portion of an outstanding Award pass to a beneficiary or
legal representative upon death of a Participant, the period in which such Award can be exercised by such beneficiary or legal representative shall not exceed one year from the Participant’s death. 

  
 - 12 - 

 ARTICLE 4 

OPTIONS 
  

	4.1	 Granting of Options 

The Plan Administrator may, from time to time, subject to the provisions of this Plan and such other terms and conditions as the Plan
Administrator may prescribe, grant Options to any Participant. The terms and conditions of each Option grant shall be evidenced by an Award Agreement. 
  

	4.2	 Exercise Price 

The Plan Administrator will establish the Exercise Price at the time each Option is granted, which Exercise Price must in all cases be not less
than the Market Price on the Date of Grant. 
  

	4.3	 Term of Options 

Subject to any accelerated vesting or termination as set forth in this Plan, each Option expires on its Expiry Date. 

 

	4.4	 Vesting and Exercisability 

 

	 	(a)	 The Plan Administrator shall have the authority to determine the vesting terms applicable to grants of
Options. 

  

	 	(b)	 Once an Option becomes vested, it shall remain vested and shall be exercisable until expiration or
termination of the Option, unless otherwise specified by the Plan Administrator, or as may be otherwise set forth in any written employment agreement, Award Agreement or other written agreement between the Corporation or a subsidiary of the
Corporation and the Participant. Each vested Option may be exercised at any time or from time to time, in whole or in part, for up to the total number of Option Shares with respect to which it is then exercisable. The Plan Administrator has the
right to accelerate the date upon which any Option becomes exercisable. 

  

	 	(c)	 Subject to the provisions of this Plan and any Award Agreement, Options shall be exercised by means of a
fully completed Exercise Notice delivered to the Corporation. 

  

	 	(d)	 The Plan Administrator may provide at the time of granting an Option that the exercise of that Option is
subject to restrictions, in addition to those specified in this Section 4.4, such as vesting conditions relating to the attainment of specified Performance Goals. 

 

	 	(e)	 No Option holder who is resident in the United States may exercise Options unless the Option Shares are
registered under the U.S. Securities Act or are issued in compliance with an available exemption from the registration requirements of the U.S. Securities Act. 

  
 - 13 - 

	4.5	 Payment of Exercise Price 

 

	 	(a)	 Unless otherwise specified by the Plan Administrator at the time of granting an Option and set forth in the
particular Award Agreement, the Exercise Notice must be accompanied by payment of the Exercise Price. The Exercise Price must be fully paid by certified cheque, wire transfer, bank draft or money order payable to the Corporation or by such other
means as might be specified from time to time by the Plan Administrator, which may include (i) through an arrangement with a broker approved by the Corporation (or through an arrangement directly with the Corporation) whereby payment of the
Exercise Price is accomplished with the proceeds of the sale of Shares deliverable upon the exercise of the Option, (ii) through the Cashless Exercise process set out in Section 4.5(b), or (iii) such other consideration and method of
payment for the issuance of Shares to the extent permitted by Securities Laws, or any combination of the foregoing methods of payment. 

  

	 	(b)	 A Participant may, in lieu of exercising an Option pursuant to an Exercise Notice, request, subject to the
consent of the Corporation, to surrender such Option to the Corporation (a “Cashless Exercise”) in consideration for an amount from the Corporation equal to (i) the Market Price of the Shares issuable on the exercise of
such Option (or portion thereof) as of the date such Option (or portion thereof) is exercised, less (ii) the aggregate Exercise Price of the Option (or portion thereof) surrendered relating to such Shares, (the “In-the-Money Amount”), less (iii) deductions for applicable income or other taxes, by written notice to the Corporation indicating the number of Options such
Participant wishes to exercise using the Cashless Exercise, and such other information that the Corporation may require. Subject to Section 8.3, if the Corporation consents to a Cashless Exercise, the Corporation shall satisfy payment of the In-the-Money Amount by delivering to the Participant such number of Shares (rounded down to the nearest whole number) having an aggregate fair market value equal to the In-the-Money Amount. No Shares will be issued or transferred until full payment therefor has been received by the Corporation. 

 

	 	(c)	 If a Participant surrenders Options through a Cashless Exercise pursuant to Section 4.5(b), to the
extent that such Participant would be entitled to a deduction under paragraph 110(1)(d) of the Tax Act in respect of such surrender if the election described in subsection 110(1.1) of the Tax Act were made and filed (and the other procedures
described therein were undertaken) on a timely basis after such surrender, the Corporation will cause such election to be so made and filed (and such other procedures to be so undertaken). 

ARTICLE 5 

RESTRICTED SHARE UNITS 
  

	5.1	 Granting of RSUs 

 

	 	(a)	 The Plan Administrator may, from time to time, subject to the provisions of this Plan and such other terms
and conditions as the Plan Administrator may prescribe, grant RSUs to any Participant in respect of a bonus or similar payment in respect 

  
 - 14 - 

	 	 
of services rendered by the applicable Participant in a taxation year (the “RSU Service Year”). The terms and conditions of each RSU grant may be evidenced by an Award
Agreement. Each RSU will consist of a right to receive a Share, cash payment, or a combination thereof (as provided in Section 5.4(a)), upon the settlement of such RSU. 

 

	 	(b)	 The number of RSUs (including fractional RSUs) granted at any particular time pursuant to this Article 5
will be calculated by dividing (i) the amount of any bonus or similar payment that is to be paid in RSUs (including the elected amount as applicable), as determined by the Plan Administrator, by (ii) the greater of (A) the Market
Price of a Share on the Date of Grant; and (B) such amount as determined by the Plan Administrator in its sole discretion. 

  

	5.2	 RSU Account 

All RSUs received by a Participant shall be credited to an account maintained for the Participant on the books of the Corporation, as of the
Date of Grant. 
  

	5.3	 Vesting of RSUs 

The Plan Administrator shall have the authority to determine any vesting terms applicable to the grant of RSUs, provided that the terms comply
with Section 409A, with respect to a U.S. Taxpayer. 
  

	5.4	 Settlement of RSUs 

 

	 	(a)	 The Plan Administrator shall have the sole authority to determine the settlement terms applicable to the
grant of RSUs, provided that with respect to a U.S. Taxpayer the terms comply with Section 409A to the extent it is applicable. Subject to Section 11.6(d) below and except as otherwise provided in an Award Agreement, on the settlement date
for any RSU, the Participant shall redeem each vested RSU for: 

  

	 	(i)	 one fully paid and non-assessable Share issued from treasury to the
Participant or as the Participant may direct, 

  

	 	(ii)	 a cash payment, or 

 

	 	(iii)	 a combination of Shares and cash as contemplated by paragraphs (i) and (ii) above,

 in each case as determined by the Plan Administrator in its discretion. 

 

	 	(b)	 Any cash payments made under this Section 5.4 by the Corporation to a Participant in respect of RSUs to
be redeemed for cash shall be calculated by multiplying the number of RSUs to be redeemed for cash by the Market Price per Share as at the settlement date. 

  

	 	(c)	 Payment of cash to Participants on the redemption of vested RSUs may be made through the Corporation’s
payroll in the pay period that the settlement date falls within. 

  
 - 15 - 

	 	(d)	 Notwithstanding any other terms of this Plan but subject to Section 11.6(d) below and except as
otherwise provided in an Award Agreement, no settlement date for any RSU shall occur, and no Share shall be issued or cash payment shall be made in respect of any RSU, under this Section 5.4 any later than the final Business Day of the third
calendar year following the applicable RSU Service Year. 

  

	 	(e)	 No RSU holder who is resident in the United States may settle RSUs for Shares unless the Shares issuable
upon settlement of the RSUs are registered under the U.S. Securities Act or are issued in compliance with an available exemption from the registration requirements of the U.S. Securities Act. 

ARTICLE 6 

PERFORMANCE SHARE UNITS 
  

	6.1	 Granting of PSUs 

The Plan Administrator may, from time to time, subject to the provisions of this Plan and such other terms and conditions as the Plan
Administrator may prescribe, grant PSUs to any Participant in respect of a bonus or similar payment in respect of services rendered by the applicable Participant in a taxation year (the “PSU Service Year”). The terms and
conditions of each PSU grant shall be evidenced by an Award Agreement, provided that with respect to a U.S. Taxpayer the terms comply with Section 409A to the extent it is applicable. Each PSU will consist of a right to receive a Share, cash
payment, or a combination thereof (as provided in Section 6.6(a)), upon the achievement of such Performance Goals during such performance periods as the Plan Administrator shall establish. 

 

	6.2	 Terms of PSUs 

The Performance Goals to be achieved during any performance period, the length of any performance period, the amount of any PSUs granted, the
termination of a Participant’s employment and the amount of any payment or transfer to be made pursuant to any PSU will be determined by the Plan Administrator and by the other terms and conditions of any PSU, all as set forth in the applicable
Award Agreement. 
  

	6.3	 Performance Goals 

The Plan Administrator will issue Performance Goals prior to the Date of Grant to which such Performance Goals pertain. The Performance Goals
may be based upon the achievement of corporate, divisional or individual goals, and may be applied to performance relative to an index or comparator group, or on any other basis determined by the Plan Administrator. The Plan Administrator may modify
the Performance Goals as necessary to align them with the Corporation’s corporate objectives, subject to any limitations set forth in an Award Agreement or an employment or other agreement with a Participant. The Performance Goals may include a
threshold level of performance below which no payment will be made (or no vesting will occur), levels of performance at which specified payments will be made (or specified vesting will occur), and a maximum level of performance above which no
additional payment will be made (or at which full vesting will occur), all as set forth in the applicable Award Agreement. 

  
 - 16 - 

	6.4	 PSU Account 

All PSUs received by a Participant shall be credited to an account maintained for the Participant on the books of the Corporation, as of the
Date of Grant. 
  

	6.5	 Vesting of PSUs 

The Plan Administrator shall have the authority to determine any vesting terms applicable to the grant of PSUs. 

 

	6.6	 Settlement of PSUs 

 

	 	(a)	 The Plan Administrator shall have the authority to determine the settlement terms applicable to the grant of
PSUs provided that with respect to a U.S. Taxpayer the terms comply with Section 409A to the extent it is applicable. Subject to Section 11.6(d) below and except as otherwise provided in an Award Agreement, on the settlement date for any
PSU, the Participant shall redeem each vested PSU for: 

  

	 	(i)	 one fully paid and non-assessable Share issued from treasury to the
Participant or as the Participant may direct, 

  

	 	(ii)	 a cash payment, or 

 

	 	(iii)	 a combination of Shares and cash as contemplated by paragraphs (i) and (ii) above,

 in each case as determined by the Plan Administrator in its discretion. 

 

	 	(b)	 Any cash payments made under this Section 6.6 by the Corporation to a Participant in respect of PSUs to
be redeemed for cash shall be calculated by multiplying the number of PSUs to be redeemed for cash by the Market Price per Share as at the settlement date. 

  

	 	(c)	 Payment of cash to Participants on the redemption of vested PSUs may be made through the Corporation’s
payroll in the pay period that the settlement date falls within. 

  

	 	(d)	 Notwithstanding any other terms of this Plan but subject to Section 11.6(d) below and except as
otherwise provided in an Award Agreement, no settlement date for any PSU shall occur, and no Share shall be issued or cash payment shall be made in respect of any PSU, under this Section 6.6 any later than the final Business Day of the third
calendar year following the applicable PSU Service Year. 

  

	 	(e)	 No PSU holder who is resident in the United States may settle PSUs for Shares unless the Shares issuable
upon settlement of the PSUs are registered under the U.S. Securities Act or are issued in compliance with an available exemption from the registration requirements of the U.S. Securities Act. 

  
 - 17 - 

 ARTICLE 7 

DEFERRED SHARE UNITS 
  

	7.1	 Granting of DSUs 

 

	 	(a)	 The Board may fix from time to time a portion of the Director Fees that is to be payable in the form of
DSUs. In addition, each Electing Person is given, subject to the conditions stated herein, the right to elect in accordance with Section 7.1(b) to participate in the grant of additional DSUs pursuant to this Article 7. An Electing Person who
elects to participate in the grant of additional DSUs pursuant to this Article 7 shall receive their Elected Amount (as that term is defined below) in the form of DSUs. The “Elected Amount” shall be an amount, as elected by the
Director, in accordance with applicable tax law, between 0% and 100% of any Director Fees that would otherwise be paid in cash (the “Cash Fees”). 

 

	 	(b)	 Each Electing Person who elects to receive their Elected Amount in the form of DSUs will be required to file
a notice of election in the form of Schedule A hereto (the “Election Notice”) with the Chief Financial Officer of the Corporation: (i) in the case of an existing Electing Person, by December 31st in the year prior to the year to which such election is to apply (other than for Director Fees payable for the 2021 financial year, in which case any Electing Person who is not a U.S. Taxpayer as of
the date of this Plan shall file the Election Notice by the date that is 30 days from the Effective Date with respect to compensation paid for services to be performed after such date); and (ii) in the case of a newly appointed Electing Person
who is not a U.S. Taxpayer, within 30 days of such appointment with respect to compensation paid for services to be performed after such date. In the case of an existing Electing Person who is a U.S. Taxpayer as of the Effective Date of this Plan,
an initial Election Notice may be filed by the date that is 30 days from the Effective Date only with respect to compensation paid for services to be performed after the Election Date; and, in the case of a newly appointed Electing Person who is a
U.S. Taxpayer, an Election Notice may be filed within 30 days of such appointment only with respect to compensation paid for services to be performed after the Election Date. If no election is made within the foregoing time frames, the Electing
Person shall be deemed to have elected to be paid the entire amount of their Cash Fees in cash. 

  

	 	(c)	 Subject to Subsection 7.1(d), the election of an Electing Person under Subsection 7.1(b) shall be deemed to
apply to all Cash Fees paid subsequent to the filing of the Election Notice, and such Electing Person is not required to file another Election Notice for subsequent calendar years. 

 

	 	(d)	 Each Electing Person who is not a U.S. Taxpayer is entitled once per calendar year to terminate their
election to receive DSUs by filing with the Chief Financial Officer of the Corporation a termination notice in the form of Schedule B. Such termination shall be effective immediately upon receipt of such notice, provided that the Corporation has not
imposed a “black-out” on trading. Thereafter, any portion of such Electing Person’s Cash Fees payable or paid in the same calendar year and, subject to complying with Subsection 7.1(b), all
subsequent calendar years shall be paid in cash. For greater certainty, to the extent an Electing Person 

  
 - 18 - 

	 	 
terminates their participation in the grant of DSUs pursuant to this Article 7, they shall not be entitled to elect to receive the Elected Amount, or any other amount of their Cash Fees in
DSUs again until the calendar year following the year in which the termination notice is delivered. An election by a U.S. Taxpayer to receive the Elected Amount in DSUs for any calendar year is irrevocable for that calendar year after the expiration
of the election period for that year and any termination of the election will not take effect until the first day of the calendar year following the calendar year in which the termination notice in the form of Schedule C is delivered.

  

	 	(e)	 Any DSUs granted pursuant to this Article 7 prior to the delivery of a termination notice pursuant to
Section 7.1(d) shall remain in the Plan following such termination and will be redeemable only in accordance with the terms of the Plan. 

  

	 	(f)	 The number of DSUs (including fractional DSUs) granted at any particular time pursuant to this Article 7
will be calculated by dividing (i) the amount of any Director Fees that are to be paid in DSUs (including any Elected Amount), by (ii) the Market Price of a Share on the Date of Grant. 

 

	 	(g)	 In addition to the foregoing, the Plan Administrator may, from time to time, subject to the provisions of
this Plan and such other terms and conditions as the Plan Administrator may prescribe, grant DSUs to any Participant. 

  

	7.2	 DSU Account 

All DSUs received by a Participant (which, for greater certainty includes Electing Persons) shall be credited to an account maintained for the
Participant on the books of the Corporation, as of the Date of Grant. The terms and conditions of each DSU grant may be evidenced by an Award Agreement. 
  

	7.3	 Vesting of DSUs 

Except as otherwise determined by the Plan Administrator, DSUs shall vest immediately upon grant. 

 

	7.4	 Settlement of DSUs 

 

	 	(a)	 DSUs shall be settled on the date established in the Award Agreement; provided, however that if there
is no Award Agreement or the Award Agreement does not establish a date for the settlement of the DSUs, then, for a Participant who is not a U.S. Taxpayer the settlement date shall be the date determined by the Participant; provided that, in the case
of a Participant who is a Canadian Taxpayer, the settlement date shall be no earlier than the date on which the Participant ceases to be a Director (and, if such Participant is also a non-Director Employee,
the date on which the Participant ceases to be such an Employee) and no later than the last Business Day of the immediately following calendar year, and in the case of a Participant who is a U.S. Taxpayer, the settlement date shall be the date of
the Participant’s “separation from service” under Section 409A and for greater certainty in all cases by the end of the year in which such separation from service

  
 - 19 - 

	 	 
occurs, subject to Section 11.6(d). On the settlement date for any DSU, the Participant shall redeem each vested DSU for: 

 

	 	(i)	 one fully paid and non-assessable Share issued from treasury to the
Participant or as the Participant may direct; 

  

	 	(ii)	 a cash payment; or 

 

	 	(iii)	 a combination of Shares and cash as contemplated by paragraphs (i) and (ii) above,

 in each case as determined by the Plan Administrator in its sole discretion. 

 

	 	(b)	 Any cash payments made under this Section 7.4 by the Corporation to a Participant in respect of DSUs to
be redeemed for cash shall be calculated by multiplying the number of DSUs to be redeemed for cash by the Market Price per Share as at the settlement date. 

  

	 	(c)	 Payment of cash to Participants on the redemption of vested DSUs may, subject to the applicable timelines
set out in Section 7.4(a), be made through the Corporation’s payroll or in such other manner as determined by the Corporation. 

  

	 	(d)	 No DSU holder who is resident in the United States may settle DSUs for Shares unless the Shares issuable
upon settlement of the DSUs are registered under the U.S. Securities Act or are issued in compliance with an available exemption from the registration requirements of the U.S. Securities Act. 

 

	7.5	 No Additional Amount or Benefit 

For greater certainty, neither a Director to whom DSUs are granted nor any person with whom such Director does not deal at arm’s length
(for purposes of the Tax Act) shall be entitled, either immediately or in the future, either absolutely or contingently, to receive or obtain any amount or benefit granted or to be granted for the purpose of reducing the impact, in whole or in part,
of any reduction in the fair market value of the Shares to which the DSUs relate. 
 ARTICLE 8 

ADDITIONAL AWARD TERMS 
  

	8.1	 Dividend Equivalents 

 

	 	(a)	 Unless otherwise determined by the Plan Administrator and set forth in the particular Award Agreement, an
Award of RSUs, PSUs and DSUs shall include the right for such RSUs, PSUs and DSUs be credited with dividend equivalents in the form of additional RSUs, PSUs and DSUs, respectively, as of each dividend payment date in respect of which normal cash
dividends are paid on Shares. Such dividend equivalents shall be computed by dividing: (a) the amount obtained by multiplying the amount of the dividend declared and paid per Share by the number of RSUs, PSUs and DSUs, as applicable, held by
the Participant on the record date for the payment of such dividend, by (b) the Market Price at the close of the first Business Day immediately following the dividend record date, with fractions

  
 - 20 - 

	 	 
computed to three decimal places. Dividend equivalents credited to a Participant’s account shall vest in proportion to the RSUs, PSUs and DSUs to which they relate, and shall be settled in
accordance with Subsections 5.4, 6.6, and 7.4 respectively. 

  

	 	(b)	 The foregoing does not obligate the Corporation to declare or pay dividends on Shares and nothing in this
Plan shall be interpreted as creating such an obligation. 

  

	8.2	 Black-out Period 

If an Award expires during, or within five Business Days after, a routine or special trading black-out
period imposed by the Corporation to restrict trades in the Corporation’s securities, then, notwithstanding any other provision of this Plan, unless the delayed expiration would result in tax consequences, the Award shall expire five Business
Days after the trading black-out period is lifted by the Corporation. 
  

	8.3	 Withholding Taxes 

Notwithstanding any other terms of this Plan, the granting, vesting or settlement of each Award under this Plan is subject to the condition
that if at any time the Plan Administrator determines, in its discretion, that the satisfaction of withholding tax or other withholding liabilities is necessary or desirable in respect of such grant, vesting or settlement, such action is not
effective unless such withholding has been effected to the satisfaction of the Plan Administrator. In such circumstances, the Plan Administrator may require that a Participant pay to the Corporation the minimum amount as the Corporation or a
subsidiary of the Corporation is obliged to withhold or remit to the relevant taxing authority in respect of the granting, vesting or settlement of the Award. Any such additional payment is due no later than the date on which such amount with
respect to the Award is required to be remitted to the relevant tax authority by the Corporation or a subsidiary of the Corporation, as the case may be. Alternatively, and subject to any requirements or limitations under applicable law, the
Corporation or any Affiliate may (a) withhold such amount from any remuneration or other amount payable by the Corporation or any Affiliate to the Participant, (b) require the sale, on behalf of the applicable Participant, of a number of
Shares issued upon exercise, vesting, or settlement of such Award and the remittance to the Corporation of the net proceeds from such sale sufficient to satisfy such amount, or (c) enter into any other suitable arrangements for the receipt of
such amount. 
  

	8.4	 Recoupment 

Notwithstanding any other terms of this Plan, Awards may be subject to potential cancellation, recoupment, rescission, payback or other action
in accordance with the terms of any clawback, recoupment or similar policy adopted by the Corporation or the relevant subsidiary of the Corporation, or as set out in the Participant’s employment agreement, Award Agreement or other written
agreement, or as otherwise required by law or the rules of the Exchanges. The Plan Administrator may at any time waive the application of this Section 8.4 to any Participant or category of Participants. 

  
 - 21 - 

 ARTICLE 9 

TERMINATION OF EMPLOYMENT OR SERVICES 
  

	9.1	 Termination of Officer, Employee, Consultant or Director 

Subject to Section 9.2, unless otherwise determined by the Plan Administrator or as set forth in an employment agreement, Award Agreement
or other written agreement: 
  

	 	(a)	 where a Participant’s employment, consulting or other agreement or arrangement is terminated or the
Participant ceases to hold office or their position, as applicable, by reason of voluntary resignation by the Participant, termination by the Corporation or a subsidiary of the Corporation (whether such termination occurs for, or without Cause, with
or without any or adequate reasonable notice, or with or without any or adequate compensation in lieu of such reasonable notice) then, subject to applicable law that cannot be waived by the Participant: 

 

	 	(i)	 each Award held by the Participant that has not vested as of the Termination Date is immediately forfeited
and cancelled as of the Termination Date or, to the extent applicable and not subject to waiver by the Participant, the earliest date thereafter as required by employment standards legislation or regulations applicable to the Participant’s
employment or other engagement with the Corporation or any of its subsidiaries; and 

  

	 	(ii)	 each Award held by a Participant that has vested may, subject to Sections 5.4(d) and 6.6(d) (where
applicable), be exercised, settled or surrendered to the Corporation by the Participant at any time during the period that terminates on the earlier of: (A) the Expiry Date of such Award, and (B) the date that is 120 days after the
Termination Date, provided that any Awards subject to Section 409A awarded to U.S. Taxpayers, shall be exercised, settled or surrendered within the same calendar year as the Participant’s “separation from service”. Any Award that
has not been exercised, settled or surrendered at the end of such period being immediately forfeited and cancelled; 

  

	 	(b)	 where a Participant’s employment, consulting or other agreement or arrangement is terminated by reason
of the death of the Participant, then each Award held by the Participant that has not vested as of the date of the death of such Participant shall vest on such date and may, subject to Sections 5.4(d) and 6.6(d) (where applicable), be exercised,
settled or surrendered to the Corporation by the Participant’s legal representative at any time during the period that terminates on the earlier of: (i) the Expiry Date of such Award, and (ii) the first anniversary of the date of the
death of such Participant provided that any Awards subject to Section 409A awarded to U.S. Taxpayers, shall be exercised or surrendered within the same calendar year as the Participant’s death, and shall be payable only to such legal
representative or one or more applicable dependants or relations of the Participant for purposes of paragraph 6801(d) of the Income Tax Regulations (Canada). Any Award that has not been exercised, settled or surrendered at the end of such
period being immediately forfeited and cancelled; 

  
 - 22 - 

	 	(c)	 where a Participant becomes Disabled, then each Award held by the Participant that has not vested as of the
date of the Disability of such Participant shall vest on such date and may, subject to Sections 5.4(d), 6.6(d) and 7.4(a) (where applicable), be exercised or surrendered to the Corporation by a Participant at any time until the Expiry Date of such
Award, provided that any Awards subject to Section 409A awarded to U.S. Taxpayers, shall be exercised or surrendered within the same calendar year as the Participant’s “separation from service”. Any Award that remains unexercised
or has not been surrendered to the Corporation by the Participant shall be immediately forfeited upon the termination of such period; 

  

	 	(d)	 a Participant’s eligibility to receive further grants of Awards under this Plan ceases as of the
earliest of the following: 

  

	 	(i)	 the Termination Date; 

 

	 	(ii)	 the date that the Corporation or a subsidiary of the Corporation, as the case may be, provides the
Participant with written notification that the Participant’s employment, consulting or other agreement or arrangement is terminated, notwithstanding that such date may be prior to the Termination Date; or 

 

	 	(iii)	 the date of the death, Disability or the date notice is given of the resignation of the Participant; and

  

	 	(e)	 notwithstanding Subsection 9.1(a), unless the Plan Administrator, in its discretion, otherwise determines,
at any time and from time to time, Awards are not affected by a change of employment or consulting agreement or arrangement, or directorship within or among the Corporation or a subsidiary of the Corporation for so long as the Participant continues
to be a Director, Officer, Employee or Consultant, as applicable, of the Corporation or a subsidiary of the Corporation. 

  

	9.2	 Discretion to Permit Acceleration 

Notwithstanding the provisions of Section 9.1, the Plan Administrator may, in its discretion, at any time prior to, or following the
events contemplated in such Section, or in an employment agreement, Award Agreement or other written agreement between the Corporation or a subsidiary of the Corporation and the Participant, permit the acceleration of vesting of any or all Awards or
waive termination of any or all Awards, all in the manner and on the terms as may be authorized by the Plan Administrator. 

ARTICLE 10 
 EVENTS
AFFECTING THE CORPORATION 
  

	10.1	 General 

The existence of any Awards does not affect in any way the right or power of the Corporation or its shareholders to make, authorize or
determine any adjustment, recapitalization, reorganization or any other change in the Corporation’s capital structure or its business, or any amalgamation, combination, arrangement, merger or consolidation involving the Corporation, to create
or issue 

  
 - 23 - 

 
any bonds, debentures, Shares or other securities of the Corporation or to determine the rights and conditions attaching thereto, to effect the dissolution or liquidation of the Corporation or
any sale or transfer of all or any part of its assets or business, or to effect any other corporate act or proceeding, whether of a similar character or otherwise, whether or not any such action referred to in this Article 10 would have an
adverse effect on this Plan or on any Award granted hereunder. 
  

	10.2	 Change in Control 

Except as may be set forth in an employment agreement, Award Agreement or other written agreement between the Corporation or a subsidiary of
the Corporation and the Participant: 
  

	 	(a)	 Notwithstanding anything else in this Plan, the Plan Administrator may, without the consent of any
Participant, take such steps as it deems necessary or desirable, including to cause (i) the conversion or exchange of any outstanding Awards into or for, rights or other securities of substantially equivalent value, as determined by the Plan
Administrator in its discretion, in any entity participating in or resulting from a Change in Control; (ii) outstanding Awards to vest and become exercisable, realizable, or payable, or restrictions applicable to an Award to lapse, in whole or
in part prior to or upon consummation of such merger or Change in Control, and, to the extent the Plan Administrator determines, terminate upon or immediately prior to the effectiveness of such merger or Change in Control; (iii) the termination
of an Award in exchange for an amount of cash and/or property, if any, equal to the amount that would have been attained upon the exercise or settlement of such Award or realization of the Participant’s rights as of the date of the occurrence
of the transaction (and, for the avoidance of doubt, if as of the date of the occurrence of the transaction the Plan Administrator determines in good faith that no amount would have been attained upon the exercise or settlement of such Award or
realization of the Participant’s rights, then such Award may be terminated by the Corporation without payment); (iv) the replacement of such Award with other rights or property selected by the Board in its sole discretion; or (v) any
combination of the foregoing. In taking any of the actions permitted under this Section 10.2(a), the Plan Administrator will not be required to treat all Awards similarly in the transaction. Notwithstanding the foregoing, in the case of Options
held by a Canadian Taxpayer, the Plan Administrator may not cause the Canadian Taxpayer to receive (pursuant to this Subsection 10.2(a)) any property in connection with a Change in Control other than rights to acquire shares of a corporation or
units of a “mutual fund trust” (as defined in the Tax Act), of the Corporation or a “qualifying person” (as defined in the Tax Act) that does not deal at arm’s length (for purposes of the Tax Act) with the Corporation, as
applicable, at the time such rights are issued or granted. 

  

	 	(b)	 Notwithstanding Section 9.1, if within 12 months following the completion of a transaction resulting in
a Change in Control, a Participant’s employment, consultancy or directorship is terminated by the Corporation or a subsidiary of the Corporation without Cause: 

  
 - 24 - 

	 	(i)	 any unvested Awards held by the Participant that have not been exercised, settled or surrendered as of the
Termination Date shall immediately vest; and 

  

	 	(ii)	 any vested Awards of Participants may, subject to Sections 5.4(d) and 6.6(d) (where applicable), be
exercised, settled or surrendered to the Corporation by such Participant at any time during the period that terminates on the earlier of: (A) the Expiry Date of such Award; and (B) the date that is 90 days after the Termination Date,
provided that any Awards subject to Section 409A awarded to U.S. Taxpayers, shall be exercised, settled or surrendered within the same calendar year as the Participant’s “separation from service”, with any Award that has not been
exercised, settled or surrendered at the end of such period being immediately forfeited and cancelled. 

  

	 	(c)	 Notwithstanding Subsection 10.2(a) and unless otherwise determined by the Plan Administrator, if, as a
result of a Change in Control, the Shares will cease trading on all Exchanges, then the Corporation may terminate all of the Awards, other than an Option held by a Canadian Taxpayer for the purposes of the Tax Act, granted under this Plan at the
time of and subject to the completion of the Change in Control transaction by paying to each holder at or within a reasonable period of time following completion of such Change in Control transaction an amount for each Award equal to the fair market
value of the Award held by such Participant as determined by the Plan Administrator, acting reasonably, at or within a reasonable period of time following completion of such Change in Control transaction. 

 

	 	(d)	 It is intended that any actions taken under this Section 10.2 will comply with the requirements of
Section 409A of the Code with respect to Awards granted to U.S. Taxpayers. 

  

	10.3	 Reorganization of Corporation’s Capital 

Should the Corporation effect a subdivision or consolidation of Shares or any similar capital reorganization or a payment of a stock dividend
(other than a stock dividend that is in lieu of a cash dividend), or should any other change be made in the capitalization of the Corporation that does not constitute a Change in Control and that would warrant the amendment or replacement of any
existing Awards in order to adjust the number of Shares that may be acquired on the vesting of outstanding Awards and/or the terms of any Award in order to preserve proportionately the rights and obligations of the Participants holding such Awards,
the Plan Administrator will, subject to the prior approval of the Exchanges, authorize such steps to be taken as it may consider to be equitable and appropriate to that end. 
  

	10.4	 Other Events Affecting the Corporation 

In the event of an amalgamation, combination, arrangement, merger or other transaction or reorganization involving the Corporation and
occurring by exchange of Shares, by sale or lease of assets or otherwise, that does not constitute a Change in Control and that warrants the amendment or replacement of any existing Awards in order to adjust the number and/or type of Shares that may
be acquired on the vesting of outstanding Awards or by reference to which such Awards may 

  
 - 25 - 

 
be settled (as applicable), and/or the terms of any Award, in order to preserve proportionately the rights and obligations of the Participants holding such Awards, the Plan Administrator will,
subject to the prior approval of the Exchanges, authorize such steps to be taken as it may consider to be equitable and appropriate to that end. 
  

	10.5	 Immediate Acceleration of Awards 

In taking any of the steps provided in Sections 10.3 and 10.4, the Plan Administrator will not be required to treat all Awards similarly and
where the Plan Administrator determines that the steps provided in Sections 10.3 and 10.4 would not preserve proportionately the rights, value and obligations of the Participants holding such Awards in the circumstances or otherwise determines that
it is appropriate, the Plan Administrator may, but is not required to, permit the immediate vesting of any unvested Awards. 
  

	10.6	 Issue by Corporation of Additional Shares 

Except as expressly provided in this Article 10, neither the issue by the Corporation of shares of any class or securities convertible
into or exchangeable for shares of any class, nor the conversion or exchange of such shares or securities, affects, and no adjustment by reason thereof is to be made with respect to the number of Shares that may be acquired as a result of a grant of
Awards. 
  

	10.7	 Fractions 

No fractional Shares will be issued pursuant to an Award. Accordingly, if, as a result of any adjustment under this Article 10 or a
dividend equivalent, a Participant would become entitled to a fractional Share, the Participant has the right to acquire only the adjusted number of full Shares and no payment or other adjustment will be made with respect to the fractional Shares,
which shall be disregarded. 
 ARTICLE 11 

U.S. TAXPAYERS 
  

	11.1	 Provisions for U.S. Taxpayers 

Options granted under this Plan to U.S. Taxpayers may be non-qualified stock options or incentive stock
options qualifying under Section 422 of the Code (“ISOs”). Each Option shall be designated in the Award Agreement as either an ISO or a non-qualified stock option. The Corporation shall
not be liable to any Participant or to any other Person if it is determined that an Option intended to be an ISO does not qualify as an ISO. Nonqualified stock options will be granted to a U.S. Taxpayer only if (i) such U.S. Taxpayer performs
services for the Corporation or any corporation or other entity in which the Corporation has a direct or indirect controlling interest or otherwise has a significant ownership interest, as determined under Section 409A, such that the Option
will constitute an option to acquire “service recipient stock” within the meaning of Section 409A, or (ii) such option otherwise is exempt from Section 409A. 

 

	11.2	 ISOs 

Subject to any limitations in Section 3.5, the aggregate number of Shares reserved for issuance in respect of granted ISOs shall not
exceed ● Shares, and the terms and conditions of any ISOs granted to a U.S. Taxpayer on the Date of Grant hereunder, including the eligible recipients of 

  
 - 26 - 

 
ISOs, shall be subject to the provisions of Section 422 of the Code, and the terms, conditions, limitations and administrative procedures established by the Plan Administrator from time to
time in accordance with this Plan. At the discretion of the Plan Administrator, ISOs may be granted to any employee of the Corporation, or of a “parent corporation” or “subsidiary corporation”, as such terms are defined in
Sections 424(e) and (f) of the Code. 
  

	11.3	 ISO Grants to 10% Shareholders 

Notwithstanding anything to the contrary in this Plan, if an ISO is granted to a person who owns shares representing more than 10% of the
voting power of all classes of shares of the Corporation or of a “parent corporation” or “subsidiary corporation”, as such terms are defined in Section 424(e) and (f) of the Code, on the Date of Grant, the term of the
Option shall not exceed five years from the time of grant of such Option and the Exercise Price shall be at least 110% of the Market Price of the Shares subject to the Option. 

 

	11.4	 US$100,000 Per Year Limitation for ISOs 

To the extent the aggregate Market Price as at the Date of Grant of the Shares for which ISOs are exercisable for the first time by any person
during any calendar year (under all plans of the Corporation) exceeds US$100,000, such excess ISOs shall be treated as non-qualified stock options. 

 

	11.5	 Disqualifying Dispositions 

Each person awarded an ISO under this Plan shall notify the Corporation in writing immediately after the date they makes a disposition or
transfer of any Shares acquired pursuant to the exercise of such ISO if such disposition or transfer is made (a) within two years from the Date of Grant or (b) within one year after the date such person acquired the Shares. Such
notice shall specify the date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness or other consideration, by the person in such disposition or other transfer. The Corporation may, if
determined by the Plan Administrator and in accordance with procedures established by it, retain possession of any Shares acquired pursuant to the exercise of an ISO as agent for the applicable person until the end of the later of the periods
described in (a) or (b) above, subject to complying with any instructions from such person as to the sale of such Shares. 
  

	11.6	 Section 409A of the Code 

 

	 	(a)	 This Plan will be construed and interpreted to be exempt from, or where not so exempt, to comply with
Section 409A of the Code to the extent required to preserve the intended tax consequences of this Plan. Any reference in this Plan to Section 409A of the Code also include any regulation promulgated thereunder or any other formal guidance
issued by the Internal Revenue Service with respect to Section 409A of the Code. Each Award shall be construed and administered such that the Award either (A) qualifies for an exemption from the requirements of Section 409A of the
Code or (B) satisfies the requirements of Section 409A of the Code. If an Award is subject to Section 409A of the Code, (I) distributions shall only be made in a manner and upon an event permitted under Section 409A of the
Code, (II) payments to be made upon a termination of employment or service shall only be 

  
 - 27 - 

	 	 
made upon a “separation from service” under Section 409A of the Code, (III) unless the Award specifies otherwise, each installment payment shall be treated as a separate
payment for purposes of Section 409A of the Code, and (IV) in no event shall a Participant, directly or indirectly, designate the calendar year in which a distribution is made except in accordance with Section 409A of the Code. To the
extent that an Award or payment, or the settlement or deferral thereof, is subject to Section 409A of the Code, the Award will be granted, paid, settled or deferred in a manner that will meet the requirements of Section 409A of the Code,
such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Section 409A of the Code. The Corporation reserves the right to amend this Plan to the extent it reasonably determines
is necessary in order to preserve the intended tax consequences of this Plan in light of Section 409A of the Code. In no event will the Corporation or any of its subsidiaries or Affiliates be liable for any tax, interest or penalties that may
be imposed on a Participant under Section 409A of the Code or any damages for failing to comply with Section 409A of the Code. 

  

	 	(b)	 All terms of the Plan that are undefined or ambiguous must be interpreted in a manner that complies with
Section 409A of the Code if necessary to comply with Section 409A of the Code. 

  

	 	(c)	 The Plan Administrator, in its sole discretion, may permit the acceleration of the time or schedule of
payment of a U.S. Taxpayer’s vested Awards in the Plan under circumstances that constitute permissible acceleration events under Section 409A of the Code. 

 

	 	(d)	 Notwithstanding any provisions of the Plan to the contrary, in the case of any “specified
employee” within the meaning of Section 409A of the Code who is a U.S. Taxpayer, distributions of non-qualified deferred compensation under Section 409A of the Code made in connection with a
“separation from service” within the meaning set forth in Section 409A of the Code may not be made prior to the date which is six months after the date of separation from service (or, if earlier, the date of death of the U.S.
Taxpayer). Any amounts subject to a delay in payment pursuant to the preceding sentence shall be paid as soon practicable following such six-month anniversary of such separation from service.

  

	11.7	 Section 83(b) Election 

If a Participant makes an election pursuant to Section 83(b) of the Code with respect to an Award of Shares subject to vesting or other
forfeiture conditions, the Participant shall be required to promptly file a copy of such election with the Corporation. 
  

	11.8	 Application of Article 11 to U.S. Taxpayers 

For greater certainty, the provisions of this Article 11 shall only apply to U.S. Taxpayers. 

  
 - 28 - 

 ARTICLE 12 

AMENDMENT, SUSPENSION OR TERMINATION OF THE PLAN 
  

	12.1	 Amendment, Suspension, or Termination of the Plan 

The Plan Administrator may from time to time, without notice and without approval of the holders of voting shares of the Corporation, amend,
modify, change, suspend or terminate the Plan or any Awards granted pursuant to the Plan as it, in its discretion determines appropriate, provided, however, that: 
  

	 	(a)	 no such amendment, modification, change, suspension or termination of the Plan or any Awards granted
hereunder may materially impair any rights of a Participant or materially increase any obligations of a Participant under the Plan without the consent of the Participant, unless the Plan Administrator determines such adjustment is required or
desirable in order to comply with any applicable Securities Laws or Exchange requirements; and 

  

	 	(b)	 any amendment that would cause an Award held by a U.S. Taxpayer to be subject to the additional tax penalty
under Section 409A(1)(b)(i)(II) of the Code shall be null and void ab initio with respect to the U.S. Taxpayer unless the consent of the U.S. Taxpayer is obtained. 

 

	12.2	 Shareholder Approval 

Notwithstanding Section 12.1 and subject to any rules of the Exchanges, approval of the holders of Shares shall be required for any
amendment, modification or change that: 
  

	 	(a)	 increases the number of Shares reserved for issuance under the Plan, except pursuant to the provisions under
Article 10 which permit the Plan Administrator to make equitable adjustments in the event of transactions affecting the Corporation or its capital; 

  

	 	(b)	 increases or removes the 5% limits on Shares issuable or issued to Insiders as set forth in Subsection
3.6(a); 

  

	 	(c)	 reduces the Exercise Price of an Option Award (for this purpose, a cancellation or termination of an Option
Award of a Participant prior to its Expiry Date for the purpose of reissuing an Option Award to the same Participant with a lower Exercise Price shall be treated as an amendment to reduce the Exercise Price of an Option Award) except pursuant to the
provisions in the Plan which permit the Plan Administrator to make equitable adjustments in the event of transactions affecting the Corporation or its capital; 

 

	 	(d)	 extends the term of an Option Award beyond the original Expiry Date (except where an Expiry Date would have
fallen within a blackout period applicable to the Participant or within five Business Days following the expiry of such a blackout period); 

  
 - 29 - 

	 	(e)	 permits an Option Award to be exercisable beyond 10 years from its Date of Grant (except where an Expiry
Date would have fallen within a blackout period of the Corporation); 

  

	 	(f)	 increases or removes the limits on the participation of Directors; 

 

	 	(g)	 permits Awards to be transferred to a Person; 

 

	 	(h)	 changes the eligible participants of the Plan; or 

 

	 	(i)	 deletes or reduces the range of amendments which require approval of shareholders under this
Section 12.2. 

  

	12.3	 Permitted Amendments 

Without limiting the generality of Section 12.1, but subject to Section 12.2, the Plan Administrator may, without shareholder
approval, at any time or from time to time, amend the Plan for the purposes of: 
  

	 	(a)	 making any amendments to the general vesting provisions of each Award; 

 

	 	(b)	 making any amendments to the provisions set out in Article 9; 

 

	 	(c)	 making any amendments to add covenants of the Corporation for the protection of Participants, as the case
may be, provided that the Plan Administrator shall be of the good faith opinion that such additions will not be prejudicial to the rights or interests of the Participants, as the case may be; 

 

	 	(d)	 making any amendments not inconsistent with the Plan as may be necessary or desirable with respect to
matters or questions which, in the good faith opinion of the Plan Administrator, having in mind the best interests of the Participants, it may be expedient to make, including amendments that are desirable as a result of changes in law in any
jurisdiction where a Participant resides, provided that the Plan Administrator shall be of the opinion that such amendments and modifications will not be prejudicial to the interests of the Participants and Directors; or 

 

	 	(e)	 making such changes or corrections which, on the advice of counsel to the Corporation, are required for the
purpose of curing or correcting any ambiguity or defect or inconsistent provision or clerical omission or mistake or manifest error, provided that the Plan Administrator shall be of the opinion that such changes or corrections will not be
prejudicial to the rights and interests of the Participants. 

 ARTICLE 13 

MISCELLANEOUS 
  

	13.1	 Legal Requirement 

The Corporation is not obligated to grant any Awards, issue any Shares or other securities, make any payments or take any other action if, in
the opinion of the Plan Administrator, in its sole discretion, such action would constitute a violation by a Participant or the Corporation of any 

  
 - 30 - 

 
provision of any applicable statutory or regulatory enactment of any government or government agency or the requirements of any Exchange upon which the Shares may then be listed. 

 

	13.2	 No Other Benefit 

No amount will be paid to, or in respect of, a Participant under the Plan to compensate for a downward fluctuation in the price of a Share, nor
will any other form of benefit be conferred upon, or in respect of, a Participant for such purpose. 
  

	13.3	 Rights of Participant 

No Participant has any claim or right to be granted an Award and the granting of any Award is not to be construed as giving a Participant a
right to remain as an Employee, Consultant or Director. No Participant has any rights as a shareholder of the Corporation in respect of Shares issuable pursuant to any Award until the allotment and issuance to such Participant, or as such
Participant may direct, of certificates representing such Shares. 
  

	13.4	 Corporate Action 

Nothing contained in this Plan or in an Award shall be construed so as to prevent the Corporation from taking corporate action which is deemed
by the Corporation to be appropriate or in its best interest, whether or not such action would have an adverse effect on this Plan or any Award. 
  

	13.5	 Conflict 

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

  

	13.6	 Anti-Hedging Policy 

By accepting an Award each Participant acknowledges that they is restricted from purchasing financial instruments such as prepaid variable
forward contracts, equity swaps, collars, or units of exchange funds that are designed to hedge or offset a decrease in market value of Awards. 
  

	13.7	 Participant Information 

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

	13.8	 Participation in the Plan 

The participation of any Participant in the Plan is entirely voluntary and not obligatory and shall not be interpreted as conferring upon such
Participant any rights or privileges other than those rights and privileges expressly provided in the Plan. In particular, participation in the Plan does 

  
 - 31 - 

 
not constitute a condition of employment or engagement nor a commitment on the part of the Corporation to ensure the continued employment or engagement of such Participant. The Plan does not
provide any guarantee against any loss which may result from fluctuations in the market value of the Shares. The Corporation does not assume responsibility for the income or other tax consequences for the Participants and Directors and they are
advised to consult with their own tax advisors. 
  

	13.9	 International Participants 

With respect to Participants who reside or work outside Canada and the United States, the Plan Administrator may, in its sole discretion,
amend, or otherwise modify, without shareholder approval, the terms of the Plan or Awards with respect to such Participants in order to conform such terms with the provisions of local law, and the Plan Administrator may, where appropriate, establish
one or more sub-plans to reflect such amended or otherwise modified provisions. 
  

	13.10	 Successors and Assigns 

The Plan shall be binding on all successors and assigns of the Corporation and its subsidiaries. 

 

	13.11	 General Restrictions or Assignment 

Except as required by law, the rights of a Participant under the Plan are not capable of being assigned, transferred, alienated, sold,
encumbered, pledged, mortgaged or charged and are not capable of being subject to attachment or legal process for the payment of any debts or obligations of the Participant unless otherwise approved by the Plan Administrator. 

 

	13.12	 Severability 

The invalidity or unenforceability of any provision of the Plan shall not affect the validity or enforceability of any other provision and any
invalid or unenforceable provision shall be severed from the Plan. 
  

	13.13	 Notices 

All written notices to be given by a Participant to the Corporation shall be delivered personally, email or mail, postage prepaid, addressed as
follows: 
 Algoma Steel Group Inc. 

105 West Street 

Sault Ste. Marie, Ontario 

P6A 7B4 Canada 

Attention: ● 

Email: ● 

All notices to a Participant will be addressed to the principal address of the Participant on file with the Corporation. Either the
Corporation or the Participant may designate a different address by written notice to the other. Such notices are deemed to be received, if delivered personally or by email, on the date of delivery, and if sent by mail, on the fifth Business Day
following the date of 

  
 - 32 - 

 
mailing. Any notice given by either the Participant or the Corporation is not binding on the recipient thereof until received. 

 

	13.14	 Effective Date 

This Plan becomes effective on a date to be determined by the Plan Administrator, subject to the approval of the shareholders of the
Corporation. 
  

	13.15	 Currency 

Unless otherwise specified, all dollar amounts referred to in this Plan are expressed in Canadian dollars. 

 

	13.16	 Governing Law 

This Plan and all matters to which reference is made herein shall be governed by and interpreted in accordance with the laws of the Province of
Ontario and the federal laws of Canada applicable therein, without any reference to conflicts of law rules. 
  

	13.17	 Submission to Jurisdiction 

The Corporation and each Participant irrevocably submits to the exclusive jurisdiction of the courts of competent jurisdiction in the Province
of Ontario in respect of any action or proceeding relating in any way to the Plan, including, without limitation, with respect to the grant of Awards and any issuance of Shares made in accordance with the Plan. 

  
 - 33 - 

 SCHEDULE A 

ALGOMA STEEL GROUP INC. 

OMNIBUS EQUITY INCENTIVE PLAN (THE “PLAN”) 

ELECTION NOTICE 
 All
capitalized terms used herein but not otherwise defined shall have the meanings ascribed to them in the Plan. 
 Pursuant to the Plan, I
hereby elect to participate in the grant of DSUs pursuant to Article 7 of the Plan and to receive ____% of my Cash Fees in the form of DSUs. 

I confirm that: 
  

	 	(a)	 I have received and reviewed a copy of the terms of the Plan and agreed to be bound by them.

  

	 	(b)	 I recognize that when DSUs credited pursuant to this election are redeemed in accordance with the terms of
the Plan, income tax and other withholdings as required will arise at that time. Upon redemption of the DSUs, the Corporation will make all appropriate withholdings as required by law at that time. 

 

	 	(c)	 The value of DSUs is based on the value of the Shares of the Corporation and therefore is not guaranteed.

  

	 	(d)	 To the extent I am a U.S. Taxpayer, I understand that this election is irrevocable for the calendar year to
which it applies and that any revocation or termination of this election after the expiration of the election period will not take effect until the first day of the calendar year following the year in which I file the revocation or termination
notice with the Corporation. 

 The foregoing is only a brief outline of certain key provisions of the Plan. For more
complete information, reference should be made to the Plan’s text. 
  

			
	 Date:
                                         
                   
	  	  

		  	 (Name of Participant)

		  	
		
		  	  
 (Signature of
Participant)

 SCHEDULE B 

ALGOMA STEEL GROUP INC. 

OMNIBUS EQUITY INCENTIVE PLAN (THE “PLAN”) 

ELECTION TO TERMINATE RECEIPT OF ADDITIONAL DSUs 

All capitalized terms used herein but not otherwise defined shall have the meanings ascribed to them in the Plan. 

Notwithstanding my previous election in the form of Schedule A to the Plan, I hereby elect that no portion of the Cash Fees accrued after the
date hereof shall be paid in DSUs in accordance with Article 7 of the Plan. 
 I understand that the DSUs already granted under the
Plan cannot be redeemed except in accordance with the Plan. 
 I confirm that I have received and reviewed a copy of the terms of the Plan
and agree to be bound by them. 
  

			
	 Date:
                                         
                   
	  	  

		  	 (Name of Participant)

		  	
		  	  
 (Signature of
Participant)

 Note: An election to terminate receipt of additional DSUs can only be made by a Participant once in a
calendar year. 

 SCHEDULE C 

ALGOMA STEEL GROUP INC. 

OMNIBUS EQUITY INCENTIVE PLAN (THE “PLAN”) 

ELECTION TO TERMINATE RECEIPT OF ADDITIONAL DSUs 

(U.S. TAXPAYERS) 
 All
capitalized terms used herein but not otherwise defined shall have the meanings ascribed to them in the Plan. 
 Notwithstanding my previous
election in the form of Schedule A to the Plan, I hereby elect that no portion of the Cash Fees accrued after the effective date of this termination notice shall be paid in DSUs in accordance with Article 7 of the Plan. 

I understand that this election to terminate receipt of additional DSUs will not take effect until the first day of the calendar year
following the year in which I file this termination notice with the Corporation. 
 I understand that the DSUs already granted under the
Plan cannot be redeemed except in accordance with the Plan. 
 I confirm that I have received and reviewed a copy of the terms of the Plan
and agree to be bound by them. 
  

			
	 Date:
                                         
                   
	  	  

		  	 (Name of Participant)

		  	
		  	  
 (Signature of
Participant)

 Note: An election to terminate receipt of additional DSUs can only be made by a Participant once in a
calendar year.EX-10.1

 Execution Version 

Exhibit 10.1 
  

			
	 Wells Fargo Bank, National Association

Wells Fargo Securities, LLC

550 South Tryon Street, 6th Floor

Charlotte, North Carolina 28202
	 	 Barclays

745 Seventh Avenue
 New York, New
York 10019

 CONFIDENTIAL 

September 7, 2021 
 ICU Medical, Inc. 

951 Calle Amanecer 
 San Clemente, CA 92673 

Attention: Brian Bonnell 

Re:    Project Spark Commitment Letter 

          $2,000.0 Million Senior Credit Facilities 

Ladies and Gentlemen: 
 You have advised Wells
Fargo Bank, National Association (“Wells Fargo Bank”), Wells Fargo Securities, LLC (“Wells Fargo Securities”) and Barclays Bank PLC (acting through such of its affiliates or branches as it deems appropriate
“Barclays” and, together with Wells Fargo Bank and Wells Fargo Securities, the “Commitment Parties” or “we” or “us”) that ICU Medical, Inc. (the “Borrower” or
“you”) seeks financing to (a) fund a portion of the purchase price for the proposed acquisition (the “Acquisition”) of Smiths Medical 2020 Limited and certain of its subsidiaries (the “Acquired
Company”) from Smiths Group International Holdings Limited(the “Seller”) pursuant to a Share Sale and Purchase Agreement between the Borrower and the Seller (the “Acquisition Agreement”), (b) refinance in
full (the “Refinancing”) the Credit Agreement, dated as of November 8, 2017, of ICU Medical, Inc., Wells Fargo Bank, as Administrative Agent, and the lenders and other financial institutions party thereto, as amended from time
to time prior to the date hereof (the “Existing Credit Agreement”), (c) pay fees, commissions and expenses in connection with the foregoing (clauses (a), (b) and (c), collectively, the “Transactions”) and
(d) finance ongoing working capital requirements and other general corporate purposes, all as more fully described in the Summary of Proposed Terms and Conditions attached hereto as Annex A (the “Term Sheet”). This
Commitment Letter (as defined below) describes the general terms and conditions for senior secured credit facilities of $2,000.0 million to be provided to the Borrower consisting of (a) a term loan A facility of $850.0 million (the
“Term Loan A Facility”), (b) a term loan B facility of $850.0 million (the “Term Loan B Facility”), and (c) a revolving credit facility of $300.0 million (the “Revolving Credit
Facility” and, collectively with the Term Loan A Facility and the Term Loan B Facility, the “Senior Credit Facilities”).  

Capitalized terms used but not defined herein shall have the meanings assigned to them in the Term Sheet. This letter, including the annexes
attached hereto, is hereinafter referred to as the “Commitment Letter”. Except as the context otherwise requires, references to the “Borrower and its subsidiaries” will include the Acquired Company and its subsidiaries
after giving effect to the Acquisition. 

  
 1 

 1.        Commitment. Upon the terms set
forth in this Commitment Letter and in the fee letters dated the date hereof from the Commitment Parties to you (the “Fee Letters”) and subject solely to the Certain Funds Provisions (as defined below), Wells Fargo Bank is pleased
to advise you of its several and not joint commitment to provide to the Borrower 50% of the principal amount of each of the Senior Credit Facilities and the Interim Facilities and Barclays is pleased to advise you of its several and not joint
commitment to provide to the Borrower 50% of the principal amount of each of the Senior Credit Facilities and the Interim Facilities (the “Commitment”). 

In addition, in connection with the Transactions, each of the Commitment Parties is pleased to confirm, subject only to the prior written
acceptance by the Borrower of this Commitment Letter and the Fee Letters in accordance with the final paragraph of this Commitment Letter and notwithstanding any term of this Commitment Letter or any other document or agreement, its unconditional
and irrevocable undertaking (upon written request from the Borrower on at least one (1) Business Day’s (as defined in the Interim Facilities Agreement (as defined below)) notice or such shorter time as the Commitment Parties agree) to
execute and deliver (and to procure that any relevant affiliate of it enters into and executes) in each relevant capacity an interim facilities agreement (the “Interim Facilities Agreement”) in respect of (a) its several, but
not joint, commitment to provide 50%, in the case of Wells Fargo Bank, and 50%, in the case of Barclays, of the entire principal amount of the $1,700.0 million interim term facilities (the “Interim Term Facilities”) and
(b) its several, but not joint, commitment to provide 50%, in the case of Wells Fargo Bank, and 50%, in the case of Barclays, of the entire principal amount of the $300.0 million interim revolving facility (the “Interim Revolving
Facility” and, together with the Interim Term Facilities, the “Interim Facilities”) in substantially the form of the form of interim facilities agreement attached hereto as Annex B (the “Agreed Form
IFA”), subject to (a) such minor, technical or administrative amendments as may reasonably be requested by the Borrower; (b) such amendments with respect to the rights, benefits, liabilities and/or obligations of the Interim
Facility Agent and/or the Interim Security Agent as shall be required by any person which becomes a party to the Interim Facilities Agreement as Interim Facility Agent and/or Interim Security Agent (as applicable); and (c) such other amendments
to which the parties hereto have agreed. If executed, the obligations under the Interim Facilities Agreement shall be separately enforceable in accordance with its terms. The provisions of this Commitment Letter will also remain in full force and
effect notwithstanding the entry into the Interim Facilities Agreement and the advance of funds thereunder, unless this Commitment Letter has been terminated in accordance with its terms. “Interim Closing Date” has the meaning given to the
term “Closing Date” in the Interim Facilities Agreement. 
 It is however acknowledged and agreed by the parties to this
Commitment Letter that it is their intention that (a) the commitments to provide the Interim Facilities are not duplicative of the commitments to provide the Senior Credit Facilities and (b) if the Interim Facilities are made available to
you pursuant to the Interim Facilities Agreement, the Interim Facilities will, on or before the Final Repayment Date (as defined in the Interim Facilities Agreement), be repaid/replaced in full by the Loans (as defined in Term Sheet) made under the
Financing Documentation (as defined in the Term Sheet). 

  
 2 

 2.        Titles and Roles. Wells Fargo
Securities and Barclays, each acting alone or through or with affiliates selected by it, will act as the joint bookrunners and joint lead arrangers (in such capacities, the “Lead Arrangers”) in arranging and syndicating the Senior
Credit Facilities. Wells Fargo Bank (or an affiliate selected by it) will act as the sole administrative agent for the Senior Credit Facilities (in such capacity, the “Administrative Agent”). No additional agents, co-agents, arrangers or bookrunners will be appointed, no other titles will be awarded and no other compensation will be paid (other than compensation expressly contemplated by this Commitment Letter and the Fee
Letters) unless you and we shall agree in writing; provided that, (a) within fifteen (15) business days following the date hereof, you may appoint up to five (5) additional joint lead arrangers for the Senior Credit Facilities
and award such joint lead arrangers additional agent, co-agent or bookrunner titles in a manner and with economics determined by you in consultation with the Lead Arrangers (it being understood that, to the
extent you appoint additional agents, co-agents or bookrunners or confer other titles in respect of the Senior Credit Facilities, the commitments of the Lead Arrangers in respect of the Senior Credit
Facilities will be reduced by the amount of the commitments of such appointed entities (or their relevant affiliates) and the economics awarded to such other arrangers shall be in proportion to their commitments assumed in respect of the Senior
Credit Facilities), with such reduction allocated to reduce the commitments of the Commitment Parties across each of the Senior Credit Facilities at such time on a pro rata basis according to the respective amounts of their commitments, (b) the
Lead Arrangers shall have not less than 60% of the total economics for the Senior Credit Facilities on the Closing Date, (c) no additional lead arranger, agent, co-agent or bookrunner shall have
commitments or economics greater than any Lead Arranger and (d) upon the execution by any other lead arranger, agent, co-agent or bookrunner (and any relevant affiliate) of customary joinder
documentation, each such financial institution (and any relevant affiliate) shall thereafter constitute a “Commitment Party” and, other than with respect to clauses (b) and (c) above, a “Lead Arranger” hereunder (it being
further agreed that (y) each of the parties hereto shall execute a revised version of this Commitment Letter or an amendment or joinder hereto to reflect the commitment or commitments of any such institution (or its affiliate) and/or joinder
documentation as may be required in relation to the Interim Facility Agreement (including a conditions precedent letter in the same form as the Interim CP Satisfaction Letter (as defined below) and confirmations substantially the same as those set
out in Section 3 below) and (z)(i) Wells Fargo Securities will have the “left” and “highest” placement in any and all marketing materials or other documentation used in connection with the Term Loan A
Facility and the Revolving Credit Facility and shall hold the leading role and responsibilities conventionally associated with such placement, including maintaining sole physical books for the Term Loan A Facility and the Revolving Credit Facility,
and Barclays will have placement to the immediate “right” of Wells Fargo Securities and (ii) Barclays will have the “left” and “highest” placement in any and all marketing materials or other documentation used in
connection with the Term Loan B Facility and shall hold the leading role and responsibilities conventionally associated with such placement, including maintaining sole physical books for the Term Loan B Facility, and Wells Fargo Securities will have
placement to the immediate “right” of Barclays). 
 You will designate one of the Lead Arrangers or any third party that you so
elect to act as Interim Facility Agent and Interim Security Agent (each as defined in the Interim Facilities Agreement) and each Lead Arranger irrevocably and unconditionally confirms that (x) they will accept (or procure that an affiliate
accepts) such appointment and (y) they will accept the appointment of any other person in such role(s) if so designated by you. For the avoidance of doubt, each Commitment Party confirms that its commitments under this letter are not
conditional upon being so appointed as Interim Facility Agent and/or Interim Security Agent. 

3.        Conditions to Commitment. The Commitment and undertakings of the Commitment Parties
hereunder are subject solely to (a) with respect to the Senior Credit Facilities (but not the commitment to provide the Interim Facilities or the rights or obligations of the parties under the Interim Facilities Agreement or the agreement of
any Commitment Party to perform the services under the Interim Facilities Agreement), the conditions set forth in the sections entitled “Conditions to Closing and Initial Extensions of Credit” in the Term Sheet, and (b) with respect
to the Interim Facilities Agreement, paragraph (a) of clause 3.1 (Conditions Precedent) of the Interim Facilities Agreement (together with clause 3.2 (Certain Funds Period) of the Interim Facilities Agreement, collectively, the
“Certain Funds Provisions”); and, upon satisfaction (or waiver by the Commitment Parties) of such conditions, the initial funding of the Senior Credit Facilities and/or the Interim Facilities shall occur; it being understood and
agreed that there are no other conditions (implied or otherwise) to the commitments hereunder, including compliance with the terms of this Commitment Letter, the Interim Facilities Agreement, the Fee Letters and the Financing Documentation and the
Interim Finance Documents (as defined in the Interim Facilities Agreement). 

  
 3 

 The commitments of the Commitment Parties hereunder to fund and/or make available the
Interim Facilities are subject solely to the conditions set forth in the Interim Facilities Agreement (and shall not, for the avoidance of doubt, be subject to any of the conditions set forth in clause (a) of the preceding paragraph,
including without limitation the Certain Funds Provisions), and upon satisfaction (or waiver by the Commitment Parties) of such conditions, the initial funding of the Interim Facilities shall occur in accordance with the Interim Facilities
Agreement; it being understood and agreed that there are no other conditions (implied or otherwise) to the commitments made available under the Interim Facilities Agreement, including compliance with the terms of this Commitment Letter, the Fee
Letters and/or the Financing Documentation. 
 We further refer to the letter, dated on or around the date of this Commitment Letter,
relating to the documentary conditions precedent set out in Schedule 3 (Conditions Precedent) of the Interim Facilities Agreement (as such letter may be amended, amended and restated, supplemented, modified or replaced from time to time, the
“Interim CP Satisfaction Letter”). The terms and conditions of the Interim CP Satisfaction Letter shall continue and apply for the purposes of paragraph (a) of clause 3.1 (Conditions Precedent) of the Interim Facilities
Agreement and the Financing Documentation once executed and accordingly, we confirm (in our various capacities under the Interim Facilities Agreement and Financing Documentation) that (a) all the documents and evidence referred to in paragraph
2.2(a) of the Interim CP Satisfaction Letter (i) are in form and substance satisfactory to us and (ii) for the purposes of the Financing Documentation, will be accepted by us in satisfaction of the equivalent conditions precedent in the
Financing Documentation to those set out in the Interim Facilities Agreement on the date of execution of the Financing Documentation and (b) all the documents and evidence referred to in paragraph 2.2(b) of the Interim CP Satisfaction Letter
(i) are in an agreed form and (ii) once executed and/or delivered in such agreed form, as the case may be, by you (or such other relevant party) (A) such documents and other evidence shall be in form and substance satisfactory to us,
(B) all conditions precedent to first utilisation of the Interim Facilities specified in paragraph (a)(i) of clause 3.1 (Conditions Precedent) of the Interim Facilities Agreement will, subject to the other provisions of clause 3.1
(Conditions Precedent) of the Interim Facilities Agreement, be satisfied and the Interim Facilities will be unconditionally available for utilisation, and (C) for the purposes of the Financing Documentation, such documents and other
evidence will be accepted by us in satisfaction of the equivalent conditions precedent in the Financing Documentation to those set out in the Interim Facilities Agreement on the date of execution of the Financing Documentation once any necessary
changes have been made, solely to reflect that funding will occur under the Financing Documentation (and not the Interim Facilities Agreement). 

Each Commitment Party also confirms that (a) it has completed all client identification procedures in respect of the Borrower, that, in
each case, it is required to carry out in connection with making the Senior Credit Facilities or, as the case may be, the Interim Facilities available in connection with the Transactions and assuming its other liabilities and performing its
obligations under the Commitment Documents (as defined below), in compliance with all applicable laws, regulations and internal requirements (including, without limitation, all applicable money laundering rules and “know your customer”
requirements and beneficial ownership certifications under the Beneficial Ownership Regulation (as defined below)), (b) it has obtained all necessary approvals (including credit committee approvals and all other relevant internal approvals) to allow
it to arrange, manage, underwrite and/or make available the Senior Credit Facilities and the Interim Facilities in the amounts specified in this Commitment Letter and/or the Interim Facilities Agreement (as applicable) and does not require any
further internal credit sanctions or other approvals in order to arrange, manage and underwrite the Senior Credit Facilities or the Interim Facilities (as applicable) in such amounts and (c) it has received, reviewed and is satisfied with
(A) the Acquisition Agreement and (B) the Base Case Model (as defined in the Interim Facilities Agreement), in each case, in such form provided to us on or prior to the date of this Commitment Letter and that we will accept in satisfaction
of any condition precedent to availability of the Interim Facilities or, as the case may be, the Senior Credit Facilities requiring delivery of that document an updated version of the document that is not substantially different in respects that are
materially adverse to the interests of the Commitment Parties or Original Interim Lenders (as defined in the Interim Facilities Agreement) (as applicable), in their respective capacities as such under the Senior Credit Facilities or the Interim
Facilities (as applicable), (taken as a whole) under the Financing Documentation or Interim Finance Documents (as applicable), compared to the version of the document accepted by us pursuant to this paragraph or with such amendments or modifications
thereto that have been made with the consent or approval of the Lead Arrangers (such consent or approval not to be unreasonably withheld, conditioned or delayed). 

  
 4 

 The Lead Arrangers will cooperate with you as reasonably requested in coordinating the
timing and procedures for the funding of the Senior Credit Facilities in a manner consistent with the Acquisition Agreement on the Closing Date. 

4.        Syndication. 

(a)        The Lead Arrangers intend and reserve the right, both prior to and after the Closing Date,
to secure commitments for the Senior Credit Facilities from a syndicate of banks, financial institutions and other entities, in each case, other than Disqualified Institutions (as defined below), identified by the Lead Arrangers in consultation with
you and reasonably acceptable to you (with such consent not to be unreasonably withheld or delayed) (such banks, financial institutions and other entities committing to the Senior Credit Facilities, including Wells Fargo Bank and Barclays, the
“Lenders”) upon the terms and subject to the conditions set forth in this Commitment Letter. Until the earlier of (i) the date that a Successful Syndication (as defined in the Fee Letters) is achieved and (ii) the date
that is 45 days following the Closing Date (the “Syndication Date”), you agree to assist, and subject to your rights under the Acquisition Agreement will use commercially reasonable efforts to cause appropriate members of management
of the Acquired Company and the Seller to assist, us actively in achieving a syndication of the Senior Credit Facilities that is satisfactory to us and you. To assist us in our syndication efforts, you agree that you will, and will cause your
representatives and advisors to, and subject to your rights under the Acquisition Agreement will use commercially reasonable efforts to cause appropriate members of management of the Acquired Company and Seller and their representatives and advisors
to, (i) provide promptly to the Commitment Parties and the other Lenders upon reasonable request all customary information reasonably deemed necessary by the Lead Arrangers to assist the Lead Arrangers and each Lender in their evaluation of the
Transactions and to complete the syndication, (ii) make your senior management and (to the extent not in contravention of, or inconsistent with, the Acquisition Agreement) appropriate members of management of the Acquired Company available to
prospective Lenders on reasonable prior notice and at reasonable times and places mutually agreed upon, (iii) host, with the Lead Arrangers, one or more meetings (including virtual meetings) and/or calls with prospective Lenders at mutually
agreed times and locations, (iv) assist, and cause your affiliates and advisors to assist, the Lead Arrangers in the preparation of one or more confidential information memoranda and other marketing materials, including any financial statements
required under the Certain Funds Provisions, in form and substance reasonably satisfactory to the Lead Arrangers to be used in connection with the syndication, (v) use commercially reasonable efforts to ensure that the syndication efforts of
the Lead Arrangers benefit materially from the existing lending relationships of the Borrower and the Acquired Company, (vi) use commercially reasonable efforts to obtain, at the Borrower’s expense, (A) a current public corporate
credit rating from S&P Global Ratings, a division of S&P Global Inc. (“S&P”), (B) a current public corporate family rating from Moody’s Investors Service, Inc. (“Moody’s”) and (C) a
current public rating with respect to each of the Senior Credit Facilities from each of S&P and Moody’s, in each case, prior to the launch of general syndication and (vii) your ensuring (and, subject to your rights under the
Acquisition Agreement, using your commercially reasonable efforts to cause the Acquired Company to ensure) that prior to the later of the Closing Date and Syndication Date there will be no competing issues, offerings, placements, arrangements or
syndications of debt securities or commercial bank or other credit facilities by or on behalf of you or your subsidiaries or the Acquired Company and its subsidiaries, being offered, placed or arranged (other than the Senior Credit Facilities)
without the written consent of the Lead Arrangers, unless such issuance, offering, placement, arrangement or syndication could not reasonably be expected, in the reasonable discretion of the Lead Arrangers, to materially impair the syndication of
the Senior Credit Facilities (it being understood that (A) indebtedness incurred in the ordinary course of business of the Borrower and its subsidiaries and of the Acquired Company and its subsidiaries for capital expenditures, working capital,
capital leases, purchase money debt and equipment financings, (B) indebtedness of the Acquired Company and its subsidiaries permitted under the Acquisition Agreement as in effect on the date hereof, and (C) other indebtedness to be agreed
among the Borrower and the Lead Arrangers will not be subject to this clause (vii)). For the avoidance of doubt, you will not be required to provide any information to the extent that the provision thereof would violate any law, rule or regulation,
or any agreement containing an obligation of confidentiality binding on you, the Acquired Company or your or its respective affiliates; provided that (i) in the event that you do not provide information in reliance on this sentence, you
shall (x) provide notice to the Lead Arrangers that such information is being withheld pursuant to such law, rule or regulation or agreement and (y) use commercially reasonable efforts to obtain the relevant consents under such obligations
of confidentiality to allow for the provision of such information and (ii) none of the foregoing shall be construed to limit any of the conditions set forth in this Commitment Letter. For the avoidance of doubt, the only projections or pro
forma or other financial statements that shall be required to be provided to the Lead Arrangers in connection with the syndication of the Senior Credit Facilities shall be those required to be delivered pursuant to the Certain Funds Provisions.

  
 5 

 (b)        The Lead Arrangers and/or one or more of
their affiliates will exclusively manage all aspects of the syndication of the Senior Credit Facilities (in consultation with you), including decisions as to the selection and number of potential Lenders to be approached (with your consent not to be
unreasonably withheld and excluding Disqualified Institutions), when they will be approached, whose commitments will be accepted (with your consent not to be unreasonably withheld and excluding Disqualified Institutions), any titles offered to the
Lenders and the final allocations of the commitments and any related fees among the Lenders, and the Lead Arrangers will exclusively perform all functions and exercise all authority as is customarily performed and exercised in such capacities.
Notwithstanding the Lead Arrangers’ right to syndicate the Senior Credit Facilities and receive commitments with respect thereto, unless otherwise agreed to by you, (i) the Commitment Parties shall not be relieved or released from their
obligations hereunder (including their obligation to fund the Senior Credit Facilities on the Closing Date or the Interim Facilities on the Interim Closing Date) in connection with any syndication, assignment or participation in the Senior Credit
Facilities, including their respective Commitment, until the initial funding under the Senior Credit Facilities has occurred on the Closing Date or the initial funding of the Interim Facilities on the Interim Closing Date (as defined in the Interim
Facilities Agreement), (ii) no assignment by either Commitment Party shall become effective with respect to all or any portion of the Commitment in respect of the Senior Credit Facilities until the initial funding of the Senior Credit Facilities on
the Closing Date or in respect of the Interim Facilities until the initial funding of the Interim Facilities on the Interim Closing Date (as defined in the Interim Facilities Agreement), (iii) unless you and we agree in writing, the Commitment
Parties will retain exclusive control over all rights and obligations with respect to their respective Commitment in respect of the Senior Credit Facilities and the Interim Facilities, including all rights with respect to consents, modifications,
supplements, waivers and amendments, until the Closing Date has occurred (in respect of the Senior Credit Facilities) or the initial funding of the Interim Facilities on the Interim Closing Date (as defined in the Interim Facilities Agreement) has
occurred and (iv) the Lead Arrangers will not syndicate to (a) any person identified by name in writing to the Lead Arrangers on or prior to the date hereof, (b) any clearly identifiable affiliate (by virtue of their name) of any
person referred to in clause (a) above (other than bona fide diversified debt funds) and (c) competitors (and such competitors’ sponsors and affiliates identified in writing or clearly identifiable solely on the basis of their names
(other than bona fide diversified debt funds)) of the Borrower, separately identified in writing by you to us after the date hereof and prior to the syndication of the Senior Credit Facilities (collectively, the “Disqualified
Institutions”). After the Closing Date, the list of Disqualified Institutions may be updated from time to time to include competitors (and such competitors’ sponsors and affiliates identified in writing or clearly identifiable solely
on the basis of their names (other than bona fide diversified debt funds)) of the Borrower separately identified in writing to the Administrative Agent. No such identification after the date hereof shall apply retroactively to disqualify any person
that has previously acquired an assignment or participation of an interest in any of the Senior Credit Facilities with respect to such amounts previously acquired. Without limiting your obligations to assist with the syndication efforts as set forth
herein and notwithstanding anything to the contrary contained in this Commitment Letter or the Fee Letters, (A) it is understood that the Commitment hereunder is not conditioned upon the syndication of, or receipt of commitments in respect of,
the Senior Credit Facilities and in no event shall the successful completion of the syndication of the Senior Credit Facilities constitute a condition to the availability of the Senior Credit Facilities on the Closing Date or the Interim Facilities
on the Interim Closing Date (as defined in the Interim Facilities Agreement) and (B) the obtaining of the ratings referenced in the immediately preceding paragraph, or the compliance with any of the other provisions set forth in clauses
(i) through (vii) of the immediately preceding paragraph (other than the Certain Funds Provisions) shall not constitute a condition to the commitments hereunder or the funding of the Senior Credit Facilities on the Closing Date or any time
thereafter or the Interim Facilities on the Interim Closing Date (as defined in the Interim Facilities Agreement). 

  
 6 

 5.        Information. 

(a)        You represent, warrant and covenant that (but the accuracy of which representation and
warranty shall not be a condition to the commitments hereunder or the funding of the Senior Credit Facilities on the Closing Date) (i) all written information and written data (other than the Projections, as defined below, other forward-looking
information and information of a general economic or general industry nature) concerning the Borrower, the Acquired Company and their respective subsidiaries and the Transactions that has been or will be made available to the Commitment Parties or
the Lenders by you, the Acquired Company, Seller or any of your or their representatives, subsidiaries or affiliates (or on your or their behalf) (the “Information”), when taken as a whole, (x) is, and in the case of
Information made available after the date hereof, will be, complete and correct in all material respects and (y) does not, and in the case of Information made available after the date hereof, will not, contain any untrue statement of a material
fact or omit to state a material fact necessary in order to make the statements contained therein, in light of the circumstances under which they were made, not materially misleading in light of the circumstances under which such statements are made
(after giving effect to all supplements and updates thereto, in each case) and (ii) all financial projections concerning the Borrower, the Acquired Company and their respective subsidiaries, taking into account the consummation of the
Transactions, that have been or will be made available to the Commitment Parties or the Lenders by you, the Acquired Company, Seller or any of your or their representatives, subsidiaries or affiliates (or on your or their behalf) (the
“Projections”) have been and will be prepared in good faith based upon assumptions believed by you or the Acquired Company or the Seller to be reasonable at the time made available to the Commitment Parties or the Lenders, it being
understood that such Projections are not to be viewed as facts and that actual results may vary materially from the Projections. You agree that if, at any time prior to the later of the Closing Date and the Syndication Date, you become aware that
any of the representations and warranties contained in the preceding sentence would be incorrect in any material respect if the Information and Projections were being furnished, and such representations and warranties were being made, at such time,
then you will immediately notify us and promptly supplement the Information and the Projections so that such representations and warranties are correct in all material respects under those circumstances. Solely as they relate to matters with respect
to the Acquired Company and its subsidiaries prior to the Closing Date, the foregoing representations, warranties and covenants are made to the best of your knowledge. We will be entitled to use and rely upon, without responsibility to verify
independently, the Information and the Projections. You acknowledge that we may share with any of our affiliates (it being understood that such affiliates will be subject to the confidentiality agreements between you and us), and such affiliates may
share with the Commitment Parties, any information related to you, the Acquired Company, or any of your or their respective subsidiaries or affiliates (including, without limitation, in each case, information relating to creditworthiness) and the
transactions contemplated hereby. 

  
 7 

 (b)        You acknowledge that (i) the
Commitment Parties will make available, on your behalf, the Information, Projections and other marketing materials and presentations, including the confidential information memoranda (collectively, the “Informational Materials”), to
the potential Lenders by posting the Informational Materials on SyndTrak Online or by other similar electronic means (collectively, the “Electronic Means”) and (ii) certain prospective Lenders may be “public side”
(i.e., lenders that have personnel that do not wish to receive material non-public information or information that would be MNPI if the Acquired Company were a U.S. public reporting company) (within the
meaning of the United States federal and state securities laws, “MNPI”) with respect to the Borrower, the Acquired Company, Seller or their respective subsidiaries or affiliates or any of their respective securities, and who may be
engaged in investment and other market-related activities with respect to such entities’ securities (such Lenders, “Public Lenders”). At the request of the Lead Arrangers, (A) you will assist, and cause your affiliates,
advisors, and to the extent possible using commercially reasonable efforts subject to your rights under the Acquisition Agreement, appropriate representatives of the Acquired Company and Seller to assist, the Lead Arrangers in the preparation of
Informational Materials to be used in connection with the syndication of the Senior Credit Facilities to Public Lenders, which will not contain MNPI (the “Public Informational Materials”), (B) you will identify and conspicuously
mark any Public Informational Materials “PUBLIC”, and (C) you will assist the Lead Arrangers in identifying and conspicuously marking any Informational Materials that include any MNPI as “PRIVATE AND
CONFIDENTIAL”. Notwithstanding the foregoing, you agree that the Commitment Parties may distribute the following documents to all prospective Lenders (including the Public Lenders) on your behalf, unless you advise the Commitment Parties in
writing (including by email) within a reasonable time prior to their intended distributions that such material should not be distributed to Public Lenders; provided that you shall have been given a reasonable opportunity to review such
documents and comply with the U.S. Securities and Exchange Commission disclosure requirements: (w) administrative materials for prospective Lenders such as lender meeting invitations and funding and closing memoranda, (x) notifications of
changes in the terms of the Senior Credit Facilities, (y) financial information regarding the Borrower, the Acquired Company and their respective subsidiaries (other than the Projections) and (z) other materials intended for prospective
Lenders after the initial distribution of the Informational Materials, including drafts and final versions of the Term Sheet and the Financing Documentation. If you advise us in writing (including by email) that any of the foregoing items
(other than the Financing Documentation) should not be distributed to Public Lenders, then the Commitment Parties will not distribute such materials to Public Lenders without further discussions with you. Before distribution of any
Informational Materials to prospective Lenders, you shall provide us with a customary letter authorizing the dissemination of the Informational Materials and confirming the accuracy and completeness in all material respects of the information
contained therein and, in the case of Public Informational Materials, confirming the absence of MNPI therefrom. Such customary authorization letter shall exculpate you, the Acquired Business and your and their respective subsidiaries with respect to
any liability related to the misuse, and us and our affiliates with respect to any liability related to the use or misuse, of the contents of the Informational Materials. 

6.        Indemnification; Limitation of Liability. (a) Indemnification. You agree to
indemnify and hold harmless each of the Commitment Parties and each of their respective affiliates, directors, officers, employees, partners, representatives, advisors and agents and each of their respective heirs, successors and assigns (each, an
“Indemnified Party”) from and against any and all actions, suits, losses, claims, damages, penalties, liabilities and expenses of any kind or nature (including legal expenses, subject to the limitations expressed below), joint or
several, to which such Indemnified Party may become subject or that may be incurred or awarded against such Indemnified Party, in each case arising out of or in connection with or by reason of (including, without limitation, in connection with any
investigation, litigation or proceeding or preparation of a defense in connection therewith) (a) any matters contemplated by this Commitment Letter, the Interim Facilities Agreement, the Transactions or any related transaction (including,
without limitation, the execution and delivery of this Commitment Letter, the Interim Facilities Agreement and the Financing Documentation and the closing of the Transactions) or (b) the use or the contemplated use of the proceeds of the Senior
Credit Facilities or the Interim Facilities, and will reimburse each Indemnified Party for all reasonable and documented out-of-pocket expenses (including reasonable
attorneys’ fees, expenses and charges) (but limited, in the case of legal fees and expenses, to the reasonable and documented out-of-pocket fees, disbursements and
other charges of one counsel to all Indemnified Parties (taken as a whole) and, if reasonably necessary, a single local counsel for all Indemnified Parties (taken as a whole) in each relevant jurisdiction and with respect to each relevant specialty,
and in the case of an actual or perceived conflict of interest, one additional counsel in each relevant jurisdiction to the affected Indemnified Parties similarly situated and taken as a whole) not later than 10 business day after written demand as
they are incurred in connection with any of the foregoing; provided that no Indemnified Party will have any right to indemnification for any of the foregoing to the extent resulting from (i) such Indemnified Party’s own gross
negligence or willful misconduct as determined by a court of competent jurisdiction in a final non-appealable judgment, (ii) a material breach in bad faith of the funding obligations of such Indemnified
Party under this Commitment Letter as determined by a court of competent jurisdiction in a final non-appealable judgment or (iii) any dispute solely among Indemnified Parties, other than any claims
against any Commitment Party in its respective capacity or in fulfilling its role as an administrative agent or arranger or any similar role hereunder or under the Senior Credit Facilities or the Interim Facilities, and other than any claims arising
out of any act or omission on the part of you or your subsidiaries or affiliates. In the case of an investigation, litigation or proceeding to which the indemnity in this paragraph applies, such indemnity shall be effective whether or not such
investigation, litigation or proceeding is brought by you, your equity holders or creditors or an Indemnified Party, whether or not an Indemnified Party is otherwise a party thereto and whether or not the transactions contemplated hereby are
consummated. 

  
 8 

 (b) Limitation of Liability. You also agree that no Indemnified Party will have any
liability (whether direct or indirect, in contract or tort, or otherwise) to you or your affiliates or to your or their respective equity holders or creditors arising out of, related to or in connection with any aspect of the transactions
contemplated hereby, except to the extent such liability to you is determined in a final, non-appealable judgment by a court of competent jurisdiction to have resulted from such Indemnified Party’s own
gross negligence, willful misconduct or material breach in bad faith of its obligations under this Commitment Letter. Neither any Indemnified Party nor you or the Acquired Company (or any of your or their respective subsidiaries or affiliates) will
be liable for any indirect, consequential, special or punitive damages (in the case of you, other than in respect of any such damages required to be indemnified under this paragraph) in connection with this Commitment Letter, the Fee Letters, the
Financing Documentation, the Interim Facilities or any other element of the Transactions. No Indemnified Party will be liable to you, your affiliates or any other person for any damages arising from the use by others of Informational Materials or
other materials obtained by Electronic Means, except to the extent that your damages are found in a final non-appealable judgment by a court of competent jurisdiction to have resulted from the gross
negligence, willful misconduct or material breach in bad faith of such Indemnified Party. You shall not be liable for any settlement, compromise or consent to the entry of any judgment in any proceeding effected without your prior written consent
(which consent shall not be unreasonably withheld or delayed), but if settled with your written consent or if there is a final judgment in any such proceeding, you agree to indemnify and hold harmless each Indemnified Party from and against any and
all losses, claims, damages, liabilities and expenses by reason of such settlement or judgment in accordance with, and to the extent required by, this paragraph. You shall not, without the prior written consent of each Indemnified Party affected
thereby (which consent shall not be unreasonably withheld or delayed), settle any threatened or pending claim or action that would give rise to the right of any Indemnified Party to claim indemnification hereunder unless such settlement
(x) includes a full and unconditional release of all liabilities arising out of such claim or action against such Indemnified Party, (y) does not include any statement as to or an admission of fault, culpability or failure to act by or on
behalf of such Indemnified Party and (z) requires no action on the part of the Indemnified Party other than its consent. 

7.        Expenses. You agree to reimburse each of the Commitment Parties, from time to time on
written demand, for all reasonable and documented out-of-pocket costs and expenses of the Commitment Parties, including, without limitation, reasonable legal fees and
expenses (but limited, in the case of legal fees and expenses, to the reasonable and documented out-of-pocket fees, disbursements and other charges of one counsel to the
Commitment Parties and, if reasonably necessary, a single local counsel in each relevant jurisdiction and with respect to each relevant specialty), due diligence expenses and all printing, reproduction, document delivery, travel, CUSIP, SyndTrak and
communication costs, incurred in connection with the syndication and execution of the Senior Credit Facilities and the Interim Facilities and the preparation, review, negotiation, execution, delivery and enforcement of this Commitment Letter, the
Fee Letters, the Interim Facilities Agreement, the Financing Documentation and any security arrangements in connection therewith; provided, however, that, if the Closing Date does not occur, such expenses shall not exceed $500,000. 

  
 9 

 8.        Fees. As consideration for the
commitments and agreements of the Commitment Parties hereunder, you agree to cause to be paid the nonrefundable fees described in the Fee Letters on the terms and subject to the conditions set forth therein. 

9.        Confidentiality. 

(a)        This Commitment Letter and the Fee Letters (collectively, the “Commitment
Documents”) and the Interim Facilities Agreement and the existence and contents hereof and thereof shall be confidential and may not be disclosed, directly or indirectly, by you in whole or in part to any person without our prior written
consent, except for disclosure (i) hereof or thereof on a confidential basis to your directors, officers, employees, accountants, attorneys and other professional advisors who have been advised of their obligation to maintain the
confidentiality of the Commitment Documents and the Interim Facilities Agreement for the purpose of evaluating, negotiating or entering into the Transactions, (ii) as otherwise required by law (in which case, you agree, to the extent permitted
by law, to inform us promptly in advance thereof), (iii) of the Commitment Documents and the Interim Facilities Agreement on a confidential basis to the board of directors, officers and advisors of the Seller and the Acquired Company in connection
with their consideration of the Acquisition (provided that any information relating to pricing (including in any “market flex” provisions that relate to pricing), fees and expenses has been redacted in a manner reasonably acceptable
to us), (iv) this Commitment Letter and the Interim Facilities Agreement, but not the Fee Letters, in any required filings with the Securities and Exchange Commission and other applicable regulatory authorities and stock exchanges and (v) the
Term Sheet to any ratings agency in connection with the Transactions. In connection with any disclosure by you to any third party as set forth above (except as set forth in clause (ii) above), you shall notify such third party of the
confidential nature of the Commitment Documents and the Interim Facilities Agreement and agree to be responsible for any failure by any third party to whom you disclosed the Commitment Documents, the Interim Facilities Agreement or any portion
thereof to maintain the confidentiality of the Commitment Documents, the Interim Facilities Agreement or any portion thereof. The Commitment Parties shall be permitted to use information related to the syndication and arrangement of the Senior
Credit Facilities and the Interim Facilities (including your name and company logo) in connection with obtaining a CUSIP number, marketing, press releases or other transactional announcements or updates provided to investor or trade publications,
subject to confidentiality obligations or disclosure restrictions reasonably requested by you. Prior to the Closing Date, the Commitment Parties shall have the right to review and approve any public announcement or public filing made by you, the
Acquired Company or their representatives relating to the Senior Credit Facilities or the Interim Facilities or to any of the Commitment Parties in connection therewith, before any such announcement or filing is made (such approval not to be
unreasonably withheld or delayed). Your obligations under this paragraph with regard to this Commitment Letter and the Interim Facilities Agreement (but not the Fee Letters) shall terminate on the earlier of (x) the second anniversary of the
date hereof and (y) one year following the termination of this Commitment Letter in accordance with its terms. 

  
 10 

 (b)        Each Commitment Party and its affiliates
will use all non-public information provided to any of them or such affiliates by or on behalf of you hereunder or in connection with the Transactions solely for the purpose of providing the services which are
the subject of this Commitment Letter and negotiating, evaluating and consummating the transactions contemplated hereby and shall treat confidentially all such information and shall not publish, disclose or otherwise divulge such information;
provided that nothing herein shall prevent any Commitment Party from disclosing any such information (i) to any Lenders or participants or prospective Lenders or participants (it being understood that (x) the persons to whom such
disclosure is made will be informed of the confidential nature of such information and advised of their obligation to keep such information confidential and (y) no disclosures will be made to any Disqualified Institution), (ii) in any legal,
judicial, administrative proceeding or other compulsory process or otherwise as required by applicable law or regulations (in which case, such Commitment Party shall, to the extent permitted by law, inform you promptly in advance thereof), (iii)
upon the request or demand of any regulatory authority having jurisdiction over such Commitment Party or its affiliates (in which case such Commitment Party shall, except with respect to any audit or examination conducted by bank accountants or any
governmental bank regulatory authority exercising examination or regulatory authority, promptly notify you, in advance, to the extent practicably and lawfully permitted to do so), (iv) to the employees, legal counsel, independent auditors,
professionals and other experts or agents of such Commitment Party who are informed of the confidential nature of such information and are or have been advised of their obligation to keep information of this type confidential, (v) to any of its
respective affiliates solely in connection with the Transactions, (vi) to the extent any such information becomes publicly available other than by reason of disclosure by such Commitment Party or its affiliates in breach of this Commitment
Letter, (vii) to the extent that such information is received by such Commitment Party from a third party that is not to such Commitment Party’s knowledge subject to confidentiality obligations to you, the Company or the Borrower,
(viii) to the extent that such information is independently developed by such Commitment Party, (ix) to ratings agencies in connection with the Transactions and (x) for purposes of establishing a “due diligence” defense;
provided that the disclosure of any such information to any Lenders or prospective Lenders or participants or prospective participants referred to above shall be made subject to the acknowledgment and acceptance by such Lender or prospective
Lender or participant or prospective participant that such information is being disseminated on a confidential basis (on substantially the terms set forth in this paragraph or as is otherwise reasonably acceptable to you and each Commitment Party,
including, without limitation, as agreed in any confidential information memorandum or other marketing materials) in accordance with the standard syndication processes of such Commitment Party or customary market standards for dissemination of such
type of information. The provisions of this paragraph with respect to the Commitment Parties shall automatically terminate on the earlier of (i) the second anniversary of the date hereof and (y) one year following the termination of this
Commitment Letter in accordance with its terms and shall otherwise automatically terminate and be superseded by the confidentiality provisions in the Financing Documentation upon the execution and delivery thereof. 

(c)        The Commitment Parties hereby notify you that pursuant to the requirements of the USA
PATRIOT Act, Title III of Pub. L. 107-56 (signed into law October 26, 2001) (the “PATRIOT Act”) and the requirements of 31 C.F.R. §1010.230 (the “Beneficial Ownership
Regulation”), each of them is required to obtain, verify and record information that identifies you and any additional borrowers or guarantors under the Senior Credit Facilities, which information includes your and their respective names,
addresses, tax identification numbers and other information that will allow the Commitment Parties and the other Lenders to identify you and such other parties in accordance with the PATRIOT Act and the Beneficial Ownership Regulation. This notice
is given in accordance with the requirements of the PATRIOT Act and the Beneficial Ownership Regulation and is effective for each of us and the Lenders. 

10.        Other Services. 

(a)        Nothing contained herein shall limit or preclude the Commitment Parties or any of their
respective affiliates from carrying on any business with, providing banking or other financial services to, or from participating in any capacity, including as an equity investor, in any party whatsoever, including, without limitation, any
competitor, supplier or customer of you, the Seller, the Acquired Company or any of your or their respective affiliates, or any other party that may have interests different than or adverse to such parties. 

  
 11 

 (b)        You acknowledge that each Lead Arranger
and its affiliates (the term “Lead Arranger” as used in this section being understood to include such affiliates) (i) may be providing debt financing, equity capital or other services (including financial advisory services) to
other entities and persons with which you, the Seller, the Acquired Company or your or their respective affiliates may have conflicting interests regarding the Transactions and otherwise, (ii) may act, without violation of its contractual
obligations to you, as it deems appropriate with respect to such other entities or persons, and (iii) have no obligation in connection with the Transactions to use, or to furnish to you, the Seller, the Acquired Company or your or their
respective affiliates or subsidiaries, confidential information obtained from other entities or persons. 

(c)        You acknowledge that each of Wells Fargo Bank (or one of its affiliates) and Barclays (or
one of its affiliates) has been retained by you as buy-side financial advisor (each, in such capacity, the “Financial Advisor”) in connection with the Acquisition. Each of the parties
hereto agrees to any such retention, and further agrees not to assert any claim it might allege based on any actual or potential conflicts of interest that might be asserted to arise or result from, on the one hand, the engagement of the Financial
Advisor and our and our affiliates’ relationship with you as described and referred to herein, on the other. 

(d)        In connection with all aspects of the Transactions, you acknowledge and agree that:
(i) the Senior Credit Facilities, the Interim Facilities and any related arranging or other services contemplated in this Commitment Letter constitute an arm’s-length commercial transaction between
you and your affiliates, on the one hand, and the Commitment Parties, on the other hand, and you are capable of evaluating and understanding and understand and accept the terms, risks and conditions of the Transactions, (ii) in connection with
the process leading to the Transactions, each of the Commitment Parties is and has been acting solely as a principal and not as a financial advisor, agent or fiduciary, for you, the Acquired Company or any of your or their respective management,
affiliates, equity holders, directors, officers, employees, creditors or any other party, (iii) no Commitment Party or any affiliate thereof has assumed or will assume an advisory, agency or fiduciary responsibility in your or your
affiliates’ favor with respect to any of the Transactions or the process leading thereto (irrespective of whether any Commitment Party or any of its affiliates has advised or is currently advising you or your affiliates or the Acquired Company
or its affiliates on other matters) and no Commitment Party has any obligation to you or your affiliates with respect to the Transactions except those obligations expressly set forth in the Commitment Documents or the Interim Facilities Agreement,
(iv) the Commitment Parties and their respective affiliates may be engaged in a broad range of transactions that involve interests that differ from yours and those of your affiliates and no Commitment Party shall have any obligation to disclose
any of such interests, and (v) no Commitment Party has provided any legal, accounting, regulatory or tax advice with respect to any of the Transactions and you have consulted your own legal, accounting, regulatory and tax advisors to the extent
you have deemed appropriate. You hereby waive and release, to the fullest extent permitted by law, any claims that you may have against any Commitment Party or any of their respective affiliates with respect to any breach or alleged breach of
agency, fiduciary duty or conflict of interest. 
 (e)        You acknowledge that certain of the
Commitment Parties are currently acting as an administrative agent, a lender and in other capacities under the Existing Credit Agreement and your and such Commitment Party’s rights and obligations under the Existing Credit Agreement and any
other Loan Documents (as defined in the Existing Credit Agreement) that currently or hereafter may exist are, and shall be, separate and distinct from the rights and obligations of the parties pursuant to this Commitment Letter, and none of such
rights and obligations under such other agreements shall be affected by any Commitment Party’s performance or lack of performance hereunder. You hereby agree that the Commitment Parties may render their respective services under this Commitment
Letter notwithstanding any actual or potential conflict of interest presented by the foregoing and you hereby waive any conflict of interest claims relating to the relationship between any Commitment Party and you and your subsidiaries in connection
with the engagement contemplated hereby on the one hand, and the exercise by any Commitment Party or any of its affiliates of any of their rights and duties under the Existing Credit Agreement and any other Loan Documents, on the other hand. 

  
 12 

 11.        Acceptance/Expiration of
Commitments. 
 (a)        This Commitment Letter and the Commitment of the Commitment Parties
and the undertakings of the Lead Arrangers set forth herein (but not the commitments and undertakings under the Interim Facilities Agreement which shall terminate in accordance with their terms) shall automatically terminate at 5:00 p.m. (Eastern
Time) on September 7, 2021 (the “Acceptance Deadline”), without further action or notice unless signed counterparts of this Commitment Letter and the Fee Letters shall have been delivered to the Lead Arrangers by such time. 

In the event this Commitment Letter is accepted by you as provided above, the Commitment and agreements of the Commitment Parties and the
undertakings of the Lead Arrangers set forth herein (but not the commitments and undertakings under the Interim Facilities Agreement which shall terminate in accordance with their terms) will automatically terminate without further action or notice
upon the earliest to occur of (i) consummation of the Acquisition (with or without the use of the Senior Credit Facilities) (other than with the use of the Interim Facilities), (ii) termination of the Acquisition Agreement, (iii) the day after
the last day of the Option Period (as defined in the Put Option Deed) if the Put Option (as defined in the Put Option Deed) has not been exercised during the Option Period; and (iv) the Long Stop Date (as defined in the Acquisition Agreement on
the date hereof but without giving effect to any change to such date pursuant to the reference to “such other date as the Parties may agree in writing” therein), (such earliest date, the “Expiration Date”); provided
that, to the extent that the Acquisition is consummated with the use of the Interim Facilities (and not the use of the Senior Credit Facilities), the Expiration Date shall automatically be extended to 11:59 p.m., New York City time on the
Final Repayment Date (as defined in the Interim Facilities Agreement). 

12.        Survival. The sections of this Commitment Letter and the Fee Letters relating to
Indemnification, Expenses, Confidentiality, Other Services, Survival and Governing Law shall survive any termination or expiration of this Commitment Letter, the Commitment of the Commitment Parties or the undertakings of the Lead Arrangers set
forth herein (regardless of whether definitive Financing Documentation is executed and delivered), and the sections relating to Syndication and Information shall survive until the Syndication Date; provided that your obligations under this
Commitment Letter (other than your obligations with respect to the sections of this Commitment Letter relating to Syndication, Information, Confidentiality, Other Services, Survival and Governing Law) shall be superseded by the provisions of the
Financing Documentation upon the initial funding thereunder. 
 13.        Governing Law.
THIS COMMITMENT LETTER AND THE FEE LETTERS, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED THERETO (INCLUDING, WITHOUT LIMITATION, ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT OF THE SUBJECT MATTER HEREOF OR
THEREOF), SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 AND SECTION 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), WITHOUT REFERENCE TO ANY OTHER CONFLICTS OR CHOICE OF LAW PRINCIPLES THEREOF. THE PARTIES HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY WITH
RESPECT TO ANY CLAIM OR ACTION ARISING OUT OF THIS COMMITMENT LETTER OR THE FEE LETTERS. With respect to any suit, action or proceeding arising in respect of this Commitment Letter or the Fee Letters or any of the matters contemplated hereby or
thereby, the parties hereto hereby irrevocably and unconditionally submit to the exclusive jurisdiction of any state or federal court located in the Borough of Manhattan, and irrevocably and unconditionally waive any objection to the laying of venue
of such suit, action or proceeding brought in such court and any claim that such suit, action or proceeding has been brought in an inconvenient forum. The parties hereto hereby agree that service of any process, summons, notice or document by
registered mail addressed to you or each of the Commitment Parties will be effective service of process against such party for any action or proceeding relating to any such dispute. A final judgment in any such action or proceeding may be enforced
in any other courts with jurisdiction over you or each of the Commitment Parties. 

  
 13 

 14.        Miscellaneous. This Commitment
Letter and the Fee Letters embody the entire agreement among the Commitment Parties and you and your affiliates with respect to the specific matters set forth above and supersede all prior agreements and understandings relating to the subject matter
hereof (other than the Interim Facilities). No person has been authorized by any of the Commitment Parties to make any oral or written statements inconsistent with this Commitment Letter or the Fee Letters. This Commitment Letter and the Fee Letters
shall not be assignable by you without the prior written consent of the Commitment Parties (and if such right of assignment is so exercised, each Commitment Party irrevocably and unconditionally agrees to enter into a replacement Interim Facilities
Agreement (if executed) and/or any other document relating thereto including a condition precedent satisfaction letter in the same form as the Interim CP Satisfaction Letter), and any purported assignment without such consent shall be void. This
Commitment Letter and the Fee Letters are not intended to benefit or create any rights in favor of any person other than the parties hereto, the Lenders and, with respect to indemnification, each Indemnified Party or, in respect of the Interim
Facilities Agreement, the parties thereto. This Commitment Letter and the Fee Letters may be executed in separate counterparts with the same effect as if all signatory parties had signed the same document, all of which taken together shall together
be considered one and the same agreement. The execution and delivery of this Commitment Letter and the Fee Letters shall be deemed to include electronic signatures on electronic platforms approved by Wells Fargo and Barclays, which shall be of the
same legal effect, validity or enforceability as delivery of a manually executed signature, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State
Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided that, upon the request of any party hereto, such electronic signature shall be promptly followed by the original
thereof. This Commitment Letter and the Fee Letters may only be amended, modified or superseded by an agreement in writing signed by each of you and the Commitment Parties (but, for the avoidance of doubt, the Interim Facilities Agreement may be
amended or waived in accordance with its terms). 
 [Signature Pages Follow] 

  
 14 

 If you are in agreement with the foregoing, please indicate acceptance of the terms hereof
by signing the enclosed counterpart of this Commitment Letter and returning it to the Lead Arrangers, together with executed counterparts of the Fee Letters, by no later than the Acceptance Deadline. 

 

					
	Sincerely,
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Darin Mullis

		 	Name:	 	Darin Mullis
		 	Title:	 	Managing Director
	
	WELLS FARGO SECURITIES, LLC
		
	By:	 	 /s/ William L. Zvara

		 	Name:	 	William L. Zvara
		 	Title:	 	Vice President
	
	BARCLAYS BANK PLC
		
	By:	 	 /s/ John Skrobe

		 	Name:	 	John Skrobe
		 	Title:	 	Managing Director

  
 Commitment Letter

 Project Spark 

					
	 Agreed to and accepted as of the date first

above written:

	
	ICU MEDICAL, INC.
		
	By:	 	 /s/ Brian M. Bonnell

		 	Name:	 	Brian M. Bonnell
		 	Title:	 	CFO

  
 Commitment Letter

 Project Spark

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