<SEC-DOCUMENT>0001104659-24-053155.txt : 20240429
<SEC-HEADER>0001104659-24-053155.hdr.sgml : 20240429
<ACCEPTANCE-DATETIME>20240426175818
ACCESSION NUMBER:		0001104659-24-053155
CONFORMED SUBMISSION TYPE:	S-8 POS
PUBLIC DOCUMENT COUNT:		7
FILED AS OF DATE:		20240429
DATE AS OF CHANGE:		20240426
EFFECTIVENESS DATE:		20240429

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AGNICO EAGLE MINES LTD
		CENTRAL INDEX KEY:			0000002809
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8 POS
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-152004
		FILM NUMBER:		24885734

	BUSINESS ADDRESS:	
		STREET 1:		145 KING STREET EAST
		STREET 2:		SUITE 400
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5C 2Y7
		BUSINESS PHONE:		4169471212

	MAIL ADDRESS:	
		STREET 1:		145 KING STREET EAST
		STREET 2:		SUITE 400
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5C 2Y7
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8 POS
<SEQUENCE>1
<FILENAME>tm2412361d2_s8pos.htm
<DESCRIPTION>S-8 POS
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange Commission
on April&nbsp;26, 2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No.&nbsp;333-130339</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No.&nbsp;333-152004</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POST-EFFECTIVE AMENDMENT NO. 3 TO FORM&nbsp;S-8
REGISTRATION STATEMENT NO. 333-130339</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POST-EFFECTIVE AMENDMENT NO. 4 TO FORM&nbsp;S-8
REGISTRATION STATEMENT NO. 333-152004</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>UNDER THE SECURITIES ACT OF 1933</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AGNICO EAGLE MINES LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Ontario, Canada</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other jurisdiction of</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">incorporation or organization)</P></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>98-0357066</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(I.R.S. Employer</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>145 King Street East, Suite&nbsp;400</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Toronto, Ontario, Canada M5C 2Y7</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(416) 947-1212</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address,&nbsp;Including Zip Code, of Principal
    Executive Offices)</P></TD></TR>
  </TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AGNICO EAGLE MINES LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDED AND RESTATED EMPLOYEE STOCK OPTION PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>and</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AGNICO EAGLE MINES LIMITED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDED AND RESTATED INCENTIVE SHARE PURCHASE
PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Full title of plan)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Jeffrey Nadler,&nbsp;Esq.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Davies Ward Phillips&nbsp;&amp; Vineberg LLP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>900 Third Avenue, 24<SUP>th</SUP> Floor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, NY 10022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(212) 588-5505</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, address and telephone number, including
area code of agent for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">with copies to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Ammar Al-Joundi</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Agnico Eagle Mines Limited</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>145 King Street East, Suite&nbsp;400</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Toronto, ON, Canada</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>M5C 2Y7</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(416) 947-1212</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.
See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo;
and &ldquo;emerging growth company&rdquo; in Rule&nbsp;12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer <FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer (do not check if a smaller reporting company) <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section&nbsp;7(a)(2)(B)&nbsp;of the Securities Act. <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXPLANATORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December&nbsp;15, 2005, Agnico Eagle Mines
Limited (the &ldquo;Registrant&rdquo;) filed with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) a Registration
Statement on Form&nbsp;S-8 (Commission No.&nbsp;333-130339) (the &ldquo;Initial Registration Statement&rdquo;) registering the offer and
sale of (i)&nbsp;6,877,775 shares of common stock, no par value (the &ldquo;Common Shares&rdquo;) of the Registrant that may be issued
under the Agnico Eagle Mines Limited Amended and Restated Employee Stock Option Plan (the &ldquo;Stock Option Plan&rdquo;) and (ii)&nbsp;1,153,260
Common Shares that may be issued under the Agnico Eagle Mines Limited Amended and Restated Incentive Share Purchase Plan (the &ldquo;Share
Purchase Plan&rdquo;). On June&nbsp;27, 2008, the Registrant filed with the Commission a Registration Statement on Form&nbsp;S-8 (Commission
No.&nbsp;333-152004) (the &ldquo;Subsequent Registration Statement&rdquo; and, together with the Initial Registration Statement, the &ldquo;Registration
Statements&rdquo;) registering the offer and sale of (i)&nbsp;additional 6,000,000 Common Shares that may be issued under the Stock Option
Plan and (ii)&nbsp;2,500,000 Common Shares that may be issued under the Share Purchase Plan. On August&nbsp;19, 2008, the Registrant filed
with the Commission a Post-Effective Amendment No.&nbsp;1 to the Subsequent Registration Statement solely to add exhibits 4.1 and 4.2
to the Subsequent Registration Statement. On April&nbsp;30, 2021, the Registrant filed with the Commission a Post-Effective Amendment
No.&nbsp;1 to the Initial Registration Statement and a Post-Effective Amendment No.&nbsp;2 to the Subsequent Registration Statement for
the purpose of updating exhibit 99.1 to the Initial Registration Statement (as amended) and exhibit 4.1 to the Subsequent Registration
Statement (as amended), in each case to reflect an amendment to the Stock Option Plan. On May&nbsp;13, 2022, the Registrant filed with
the Commission a Post-Effective Amendment No.&nbsp;2 to the Initial Registration Statement and a Post-Effective Amendment No.&nbsp;3 to
the Subsequent Registration Statement for the purpose of updating exhibit 99.2 to the Initial Registration Statement (as amended) and
exhibit 4.2 to the Subsequent Registration Statement (as amended), in each case to reflect an amendment of the Share Purchase Plan to
increase the number of Common Shares reserved for issuance by the Registrant under the Share Purchase Plan by 1,500,000 Common Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March&nbsp;8, 2024, the board of directors
of the Registrant approved the further amendment of the Share Purchase Plan to increase the number of Common Shares reserved for issuance
by the Registrant under the Share Purchase Plan by 4,000,000 Common Shares, so that the maximum number of Common Shares reserved for
issuance by the Registrant under the Share Purchase Plan is 13,600,000 Common Shares, of which <FONT STYLE="font-style: normal; font-weight: normal">4,121,617
</FONT>Common Shares remain available for issuance by the Registrant as of the filing date of this post-effective amendment to the Registration
Statements (this &ldquo;Amendment&rdquo;). The Share Purchase Plan, as so amended and restated (the &ldquo;Amended Share Purchase Plan&rdquo;),
was approved by the shareholders of the Registrant at the Registrant&rsquo;s annual and special meeting of shareholders held on April&nbsp;26,
2024. This Amendment is being filed by the Registrant for the purpose of updating exhibit 99.2 to the Initial Registration Statement
(as amended) and exhibit 4.2 to the Subsequent Registration Statement (as amended), in each case to reflect the Amended Share Purchase
Plan attached to this Amendment as exhibit 4.2. The Registrant is not registering additional Common Shares under this Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8. Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 9%"><B>Exhibit</B></TD>
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 88%"><B>Description</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex4-2.htm" STYLE="-sec-extract: exhibit">4.2</A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex4-2.htm" STYLE="-sec-extract: exhibit">Agnico Eagle Mines Limited Amended and Restated Incentive Share Purchase Plan <I>(filed herewith)</I></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex5-1.htm" STYLE="-sec-extract: exhibit">5.1</A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex5-1.htm" STYLE="-sec-extract: exhibit">Opinion of Davies Ward Phillips&nbsp;&amp; Vineberg LLP, Toronto, Ontario <I>(filed herewith)</I></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex23-1.htm" STYLE="-sec-extract: exhibit">23.1</A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex23-1.htm" STYLE="-sec-extract: exhibit">Consent of Ernst&nbsp;&amp; Young LLP <I>(filed herewith)</I></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex5-1.htm" STYLE="-sec-extract: exhibit">23.2</A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex5-1.htm" STYLE="-sec-extract: exhibit">Consent of Davies Ward Phillips&nbsp;&amp; Vineberg LLP, Toronto, Ontario (included with Exhibit&nbsp;5.1)</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/2809/000104746905028304/a2166022zs-8.htm#toc_bg2284_2" STYLE="-sec-extract: exhibit">24.1*</A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/2809/000104746905028304/a2166022zs-8.htm#toc_bg2284_2" STYLE="-sec-extract: exhibit">Power of Attorney (Registration No.&nbsp;333-130339)</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/2809/000110465908042831/a08-17563_1s8.htm" STYLE="-sec-extract: exhibit">24.2*</A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/2809/000110465908042831/a08-17563_1s8.htm" STYLE="-sec-extract: exhibit">Power of Attorney (Registration No.&nbsp;333-152004)</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify">* Previously filed</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form&nbsp;S-8 and has duly caused this Amendment to be signed on its behalf by the undersigned, thereunto duly authorized, in
the City of Toronto, Province of Ontario, Country of Canada, on April&nbsp;26, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt; text-align: justify"><B>AGNICO EAGLE MINES LIMITED</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 50%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; text-align: justify; width: 5%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 45%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.75pt"> /s/ Ammar Al-Joundi</TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt">Name:</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt">Ammar Al-Joundi</TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt">Title:</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt">President and Chief Executive Officer</TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Act, this Amendment has been signed by the following persons in their respective capacities indicated below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
<TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 35%; text-align: center"><B>Name</B></TD>
<TD STYLE="padding-bottom: 1pt; vertical-align: bottom; width: 3%">&nbsp;</TD>
<TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 43%; text-align: center"><B>Title</B></TD>
<TD STYLE="padding-bottom: 1pt; vertical-align: top; width: 2%; text-align: center">&nbsp;</TD>
<TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; width: 17%; text-align: center"><B>Date</B></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">/s/ Ammar Al-Joundi</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: top">President and Chief Executive Officer, Director</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: top">April&nbsp;26, 2024</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Ammar Al-Joundi</TD>
<TD>&nbsp;</TD>
<TD>(Principal Executive Officer)</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">/s/ Jamie Porter</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: top">Executive Vice-President, Finance, and Chief Financial Officer</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: top">April&nbsp;26, 2024</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Jamie Porter</TD>
<TD>&nbsp;</TD>
<TD>(Principal Financial Officer and Accounting Officer)</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid">/s/ Sean Boyd</TD>
<TD>&nbsp;</TD>
<TD>Chair</TD>
<TD>&nbsp;</TD>
<TD>April&nbsp;26, 2024</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Sean Boyd</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid">*</TD>
<TD>&nbsp;</TD>
<TD>Director</TD>
<TD>&nbsp;</TD>
<TD>April&nbsp;26, 2024</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Leona Aglukkaq</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid">*</TD>
<TD>&nbsp;</TD>
<TD>Director</TD>
<TD>&nbsp;</TD>
<TD>April&nbsp;26, 2024</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Martine A. Celej&#9;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid">/s/ Jonathan Gill</TD>
<TD>&nbsp;</TD>
<TD>Director</TD>
<TD>&nbsp;</TD>
<TD>April&nbsp;26, 2024</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Jonathan Gill&#9;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid">/s/ Peter Grosskopf</TD>
<TD>&nbsp;</TD>
<TD>Director</TD>
<TD>&nbsp;</TD>
<TD>April&nbsp;26, 2024</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Peter Grosskopf&#9;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 4 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; width: 35%">/s/ Elizabeth Lewis-Gray</TD>
<TD STYLE="width: 3%">&nbsp;</TD>
<TD STYLE="width: 43%">Director</TD>
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="width: 17%">April&nbsp;26, 2024</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Elizabeth Lewis-Gray</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid">*</TD>
<TD>&nbsp;</TD>
<TD>Director</TD>
<TD>&nbsp;</TD>
<TD>April&nbsp;26, 2024</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Deborah McCombe</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid">/s/ Jeffrey Parr</TD>
<TD>&nbsp;</TD>
<TD>Director</TD>
<TD>&nbsp;</TD>
<TD>April&nbsp;26, 2024</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Jeffrey Parr</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid">*</TD>
<TD>&nbsp;</TD>
<TD>Director</TD>
<TD>&nbsp;</TD>
<TD>April&nbsp;26, 2024</TD></TR>
<TR STYLE="vertical-align: top">
<TD>J. Merfyn Roberts</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid">*</TD>
<TD>&nbsp;</TD>
<TD>Director</TD>
<TD>&nbsp;</TD>
<TD>April&nbsp;26, 2024</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Jamie C. Sokalsky</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 5%">* By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 45%">/s/ Sean Boyd</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name: Sean Boyd</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Title: Attorney-in-fact</P></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Date:</TD>
    <TD>April&nbsp;26, 2024</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AUTHORIZED REPRESENTATIVE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of Section&nbsp;6(a)&nbsp;of
the Securities Act of 1933, the undersigned has signed this Amendment, solely in the capacity of the duly authorized representative of
Agnico Eagle Mines Limited in the United States, on this 26<SUP>th</SUP> day of April, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif">AGNICO EAGLE (USA) LIMITED</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">/s/ Chris Vollmershausen</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 47%">Name: Chris Vollmershausen</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title: Authorized Signatory</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 6 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 9%"><B>Exhibit</B></TD>
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 88%"><B>Description</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex4-2.htm" STYLE="-sec-extract: exhibit">4.2</A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex4-2.htm" STYLE="-sec-extract: exhibit">Agnico Eagle Mines Limited Amended and Restated Incentive Share Purchase Plan <I>(filed herewith)</I></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex5-1.htm" STYLE="-sec-extract: exhibit">5.1</A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex5-1.htm" STYLE="-sec-extract: exhibit">Opinion of Davies Ward Phillips&nbsp;&amp; Vineberg LLP, Toronto, Ontario <I>(filed herewith)</I></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex23-1.htm" STYLE="-sec-extract: exhibit">23.1</A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex23-1.htm" STYLE="-sec-extract: exhibit">Consent of Ernst&nbsp;&amp; Young LLP <I>(filed herewith)</I></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex5-1.htm" STYLE="-sec-extract: exhibit">23.2</A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tm2412361d2_ex5-1.htm" STYLE="-sec-extract: exhibit">Consent of Davies Ward Phillips&nbsp;&amp; Vineberg LLP, Toronto, Ontario (included with Exhibit&nbsp;5.1)</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/2809/000104746905028304/a2166022zs-8.htm#toc_bg2284_2" STYLE="-sec-extract: exhibit">24.1*</A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/2809/000104746905028304/a2166022zs-8.htm#toc_bg2284_2" STYLE="-sec-extract: exhibit">Power of Attorney (Registration No.&nbsp;333-130339)</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/2809/000110465908042831/a08-17563_1s8.htm" STYLE="-sec-extract: exhibit">24.2*</A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/2809/000110465908042831/a08-17563_1s8.htm" STYLE="-sec-extract: exhibit">Power of Attorney (Registration No.&nbsp;333-152004)</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify">* Previously filed</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TYPE>EX-4.2
<SEQUENCE>2
<FILENAME>tm2412361d2_ex4-2.htm
<DESCRIPTION>EXHIBIT 4.2
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;4.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B>AMENDED AND RESTATED INCENTIVE
SHARE PURCHASE PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B>ARTICLE&nbsp;1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B><U>INTRODUCTION</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><B>1.1</B></TD><TD STYLE="text-align: justify"><B><U>Purpose:</U></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">The purpose
of this incentive share purchase plan (the &ldquo;Plan&rdquo;) is to encourage equity participation in Agnico Eagle Mines Limited by its
directors, officers and employees through the purchase of common shares of Agnico Eagle Mines Limited (the &ldquo;Shares&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">As used herein,
unless the context otherwise requires, the term &ldquo;Company&rdquo; refers collectively to Agnico Eagle Mines Limited and its subsidiary
companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B>ARTICLE&nbsp;2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B><U>PURCHASE PLAN</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>2.1</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Participation:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">Subject to
Section&nbsp;2.10 and applicable laws, all directors of the Company, excluding non-executive directors, and all officers and full-time
employees of the Company who have been continuously employed by the Company for at least 12 consecutive months are eligible to participate
in the Plan (such persons are referred to herein as &ldquo;Participants&rdquo;). The Committee (defined in Section&nbsp;3.7 hereof) shall
have the right, in its absolute discretion, to waive such 12 month period or refuse any person or group of persons the right of participation
or continued participation in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>2.2</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Election to Participate and Participant&rsquo;s Contribution:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">A Participant
may elect to participate in the Plan during a calendar year (a &ldquo;Plan Year&rdquo;) by delivering to the Company not later than December&nbsp;10
of the preceding calendar year (the &ldquo;Enrolment Date&rdquo;) a written direction in the form prescribed from time to time. If the
Plan&rsquo;s payroll deduction feature is selected, such form will authorize the Company to deduct an amount from the Participant&rsquo;s
basic annual salary from the Company, before deductions and exclusive of any overtime pay, bonuses or allowances of any kind whatsoever
(the &ldquo;Basic Annual Salary&rdquo;), in equal instalments based on the applicable payroll schedule. Alternatively, a Participant may
elect to make contributions to the Plan on a quarterly basis in four equal instalments by cheque payable to the Company. The amounts so
deducted by or paid to the Company (the &ldquo;Participant&rsquo;s Contribution&rdquo;) will be applied to the purchase of Shares pursuant
to the Plan and shall be held by the Company in trust for the purposes of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">Except in
the case of Participants who are directors of the Company, the Participant&rsquo;s Contribution during a Plan Year shall not exceed 10%
of the Participant&rsquo;s Basic Annual Salary for the calendar year in which the Enrolment Date falls. The Participant&rsquo;s Contribution
during a Plan Year of any director of the Company electing to participate in the Plan shall not exceed such director&rsquo;s annual board
and committee retainer fees for the calendar year in which the Enrolment Date falls. No adjustment shall be made to the Participant&rsquo;s
Contribution until the following Enrolment Date and then only if a new written direction has been delivered to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>2.3</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Participant&rsquo;s Contribution &mdash; Alternate Arrangements:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">Plan participation
by payroll deduction is not available to Participants who are full-time employees on short-term or long-term disability, workers&rsquo;
compensation or parental leave. For such Participants, payment of their Participant&rsquo;s Contribution will be accepted by cheque, subject
to the satisfaction of all other requirements of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">The failure
by a Participant to make any required contributions under the terms of the Plan shall, at the option of the Company, be deemed to be a
cancellation of such Participant&rsquo;s election to participate in the Plan. The deemed cancellation will be effective at the close of
business on the last business day of the month in which the deemed cancellation occurs. The defaulting Participant will be notified of
such cancellation by notice in writing mailed to such Participant and any Participant&rsquo;s Contribution held by the Company in trust
for such Participant shall be returned to the defaulting Participant. No Shares will be issuable to a Participant where his or her Participant&rsquo;s
Contribution has not been made in accordance with the terms of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>2.4</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Company&rsquo;s Contribution:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">Immediately
prior to the date any Shares are issued to a Participant in accordance with Section&nbsp;2.6 hereof, the Company will credit the Participant
with and thereafter hold in trust for the Participant an amount (the &ldquo;Company&rsquo;s Contribution&rdquo;) equal to no more than
50% of the Participant&rsquo;s Contribution then held in trust by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>2.5</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Aggregate Contribution:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">The Participant&rsquo;s
Contribution plus the Company&rsquo;s Contribution shall be the &ldquo;Aggregate Contribution&rdquo;. The Company shall not be required
to segregate the Participant&rsquo;s Contribution or the Aggregate Contribution from its own corporate funds or to pay interest thereon
to any Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>2.6</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Issue of Shares:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">On March&nbsp;31,
June&nbsp;30, September&nbsp;30 and December&nbsp;31 in each Plan Year, or if any such day is not a business day, then on the preceding
business day (each, an &ldquo;Issue Date&rdquo;), the Company will issue to each Participant fully paid and non-assessable Shares equal,
as nearly as possible, in value to the Aggregate Contribution held in trust on such date by the Company for each such Participant converted
into Shares at the Market Price (as defined below) on such Issue Dates. If such conversion would otherwise result in the issue to a Participant
of a fraction of a Share, the Company will issue only such number of whole Shares as may be purchased with such Aggregate Contribution.
Until the Shares are issued, Participants shall have none of the rights or obligations of a shareholder with respect to such Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">In this Section&nbsp;2.6,
 &ldquo;Market Price&rdquo; on any Issue Date shall be the simple average of the high and low trading prices of the Shares on The Toronto
Stock Exchange (the &ldquo;TSX&rdquo;) for each of the five trading days immediately prior to such Issue Date (a &ldquo;Pricing Period&rdquo;).
If the Shares did not trade on the TSX during the Pricing Period, Market Price shall be the simple average of the high and low trading
prices of the Shares on the New York Stock Exchange (the &ldquo;NYSE&rdquo;) during such Pricing Period converted into Canadian dollars
at the rate at which United States dollars may be exchanged into Canadian dollars using the inverse Noon Buying Rate. If the Shares did
not trade on the TSX or NYSE during the Pricing Period, Market Price shall be the simple average of the high and low trading prices of
the Shares on such stock exchange in Canada on which the Shares are listed during such Pricing Period as may be selected by the Committee
for such purpose. If the Shares do not trade on such day on any such stock exchange, the Market Price shall be the simple average of the
bid and ask prices of the Shares on the TSX during such Pricing Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">The Company
shall hold any unused balance of the Aggregate Contribution in trust for a Participant until such balance is utilized in accordance with
the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>2.7</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Record of Purchase:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">Within two
months after each Issue Date, each Participant shall be furnished with a record of the Shares purchased on such Issue Date, the applicable
Market Price and the balance remaining in his or her account, together with an electronic notification of the number of the Shares issued
to and registered in the name of the Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>2.8</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Restricted Period:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">The Plan is
intended to provide Shares for investment by Participants (through the holding of Shares in an attempt to align the interests of Participants
and shareholders) and not for immediate resale; accordingly, the Participants must hold the Shares purchased under the Plan for one year.
For the one-year period commencing on an Issue Date and ending on the first anniversary of such Issue Date (the &ldquo;Restricted Period&rdquo;),
the Shares issued to a Participant on such Issue Date may not be sold, transferred or otherwise disposed of by the Participant. The Participant
shall be the registered holder of the Shares during the Restricted Period until such time as the Shares are sold or otherwise disposed
of by the Participant following the expiration of the Restricted Period. During the Restricted Period the Participant shall be entitled
to all of the rights of a shareholder of the Company including, without limitation, the Participant shall have (a)&nbsp;the right to exercise
the votes attaching to his or her Shares; and (b)&nbsp;all cash dividends and other cash distributions declared and paid by the Company
in respect of any Shares shall be paid to or to the order of the Participant. During the Restricted Period, a Participant may transfer,
sell or tender any or all of the Shares held by the Participant which are subject to a Restricted Period pursuant to a <I>bona fide </I>third
party take-over bid made to all shareholders of the Company or similar acquisition transaction provided that, if the take-over bid or
acquisition transaction is not completed, any Shares held by the Participant shall remain subject to the prohibitions on sale, transfer
or other disposition until the expiration of the applicable Restricted Period. The Chief Executive Officer of the Company (or such person
designated by the Chief Executive Officer) may elect, in his or her absolute discretion, to waive any Restricted Period applicable to
the Shares held by a Participant. In respect of the waiver of any Restricted Period applicable to the Shares held by the Chief Executive
Officer of the Company, the Committee shall make such election, in its absolute discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">The Restricted
Period and the related restrictions on the sale, transfer or other disposition of the Shares by a Participant as set out in this Section&nbsp;2.8
shall not be applicable to any Participants who are &ldquo;U.S. Participants&rdquo; employed by the Company in the United States. In this
Section&nbsp;2.8, a &ldquo;U.S. Participant&rdquo; shall include any Participant who is a U.S. person, as defined in Rule&nbsp;902 of
Regulation S under the United States Securities Act of 1933, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>2.9</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Withdrawal from the Plan:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">In the event
that a Participant ceases to be eligible for participation in the Plan by virtue of the termination of his or her relationship with the
Company for any reason, whether voluntary or involuntary, or in the event of the death of the Participant while participating in the Plan,
no further purchases of Shares will be made and the Participant&rsquo;s Contribution then held by the Company for the Participant shall
be paid to the Participant or his or her estate or otherwise as directed by a court of competent jurisdiction, as the case may be, and
the Company&rsquo;s Contribution then held in trust for the Participant shall be paid to the Company. In addition, any Restricted Period
covering the Shares then held by the Participant shall immediately lapse and be of no further force or effect. Unless granted permission
by the Chief Executive Officer of the Company (or such person designated by the Chief Executive Officer) in the case of a Participant
other than the Chief Executive Officer, or by the Committee in the case of the Chief Executive Officer, a Participant is not permitted
to withdraw from the Plan during a Plan Year in which the Participant has elected to participate in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>2.10</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Termination of the Plan:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">Termination
of the Plan shall not affect the rights of the Participant&rsquo;s to the Shares purchased by them pursuant to the Plan. In the event
of termination of the Plan, the Company shall pay to each Participant the Participant&rsquo;s Contribution then held in trust by the Company
for such Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B>ARTICLE&nbsp;3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231f20"><B><U>GENERAL</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>3.1</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Transferability:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">All benefits
and rights accruing to any Participant in accordance with the terms and conditions of the Plan shall not be transferable unless specifically
provided herein. During the lifetime of a Participant, all benefits and rights may only be exercised by the Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>3.2</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Employment:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">Nothing contained
in the Plan or in any benefit or right granted hereunder shall confer upon any Participant any right with respect to service or continuance
of service with the Company, or interfere in any way with the right of the Company to terminate the Participant service with the Company
at any time. Participation in the Plan by a Participant is voluntary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>3.3</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Record Keeping:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">The Company
shall maintain a register in which shall be recorded the name and address of each Participant and all Participant&rsquo;s Contributions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>3.4</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Necessary Approvals:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">The Plan,
and the obligations of the Company to issue and deliver any Shares in accordance with the Plan, are subject to the approval of any regulatory
authority having jurisdiction over the securities of the Company. If any Shares cannot be issued to any Participant for any reason whatsoever,
the obligation of the Company to issue such Shares shall terminate and any Participant&rsquo;s Contribution held in trust for a Participant
will be returned to the Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>3.5</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Number of Shares Reserved:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">The maximum
number of Shares which may be reserved for issuance under the Plan shall be 13,600,000 Shares, which number may only be increased with
the approval of the shareholders of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>3.6</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Adjustments in Event of Change in Shares:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">In the event of a subdivision, consolidation or reclassification of outstanding Shares or other capital
adjustment, or the payment of a stock dividend thereon, the number of Shares reserved or authorized to be reserved under the Plan shall
be increased or reduced proportionately and such other adjustments shall be made as may be deemed necessary or equitable by the Committee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">In the event of a change in the Company&rsquo;s authorized Shares which is limited to a change in the
designation thereof, the shares resulting from any such change shall be deemed to be Shares under the Plan. In the event of any other
changes affecting the Shares, such adjustment shall be made as may be deemed equitable by the Committee to give proper effect to such
event.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>3.7</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Plan Administration and Amendments to Plan:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Plan will be administered by the Compensation Committee of the Board of Directors of the Company (the
 &ldquo;Committee&rdquo;) or by any other committee of the Board of Directors or committee composed of directors and/or officers of the
Company as the Board of Directors may from time to time designate, and after such designation, references to the Committee herein shall
be deemed to refer to such other committee as the case may be.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Committee shall have authority to adopt, amend or rescind rules&nbsp;and regulations as in its opinion
may be advisable or required in the administration or operation of the Plan. The Committee shall also have authority to interpret and
construe the Plan and the rules, regulations and documentation utilized under the Plan and may make any and all determinations deemed
necessary or advisable for the administration of the Plan. Any interpretation or construction of any provision of the Plan or the rules,
regulations or documentation utilized under the Plan shall be final, conclusive and binding on the Participants. All administrative costs
of the Plan shall be paid by the Company. The senior officers of the Company are authorized and directed to do all things and execute
and deliver all instruments, undertakings and applications and writings as they in their absolute discretion consider necessary for the
implementation of the rules&nbsp;and regulations established for administering the Plan.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The Committee reserves the right to amend, modify, suspend or terminate the Plan at any time if and when
it is advisable in the absolute discretion of the Committee without notice to or approval by the shareholders of the Company, provided
that all material amendments to the Plan shall require the prior approval of the shareholders of the Company. Examples of the specific
types of amendments that are not material and that the Committee is entitled to make without shareholder approval include, but are not
limited to:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">amendments to the Plan to ensure continuing compliance with applicable laws, regulations, requirements,
rules&nbsp;or policies of any governmental or regulatory authority or stock exchange;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">amendments of a &ldquo;housekeeping&rdquo; nature, which include amendments relating to the administration
of the Plan or to eliminate any ambiguity or correct or supplement any provision herein which may be incorrect or incompatible with any
other provision hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">amendments to change the class of Participants eligible to participate in the Plan;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">amendments to change the terms and conditions of any financial assistance which may be provided by the
Company to Participants under the Plan; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">amendments to change the terms and conditions of the restrictions on the sale, transfer or other disposal
of Shares by Participants under the Plan.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Notwithstanding anything contained herein to the contrary, no amendment to the Plan requiring the approval
of the shareholders of the Company under any applicable securities laws or requirements shall become effective until such approval is
obtained. Without limitation of the foregoing, the approval of a majority of the shareholders of the Company present in person or by proxy
and entitled to vote at a meeting of shareholders shall be required for the following matters:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">any amendment to the provisions of section 3.7(c), other than an amendment within the nature of paragraphs
(i)&nbsp;and (ii)&nbsp;of section 3.7(c);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">any amendment to increase the maximum number of Shares reserved for issuance under the Plan pursuant to
section 3.5 (other than pursuant to section 3.6);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">any amendments to the Participant&rsquo;s Contribution limits provided for in section 2.2, including the
Participant Contribution limit of any director of the Company; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">any amendments to the Company&rsquo;s Contribution limits provided for in section 2.4.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 23.75pt"><FONT STYLE="font-size: 10pt"><B>3.2</B></FONT></TD><TD STYLE="text-align: justify"><B><U>No Representation or Warranty:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">The Company
makes no representation or warranty as to the future market value of any Shares issued in accordance with the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231f20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 23.75pt"><FONT STYLE="font-size: 10pt"><B>3.3</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Interpretation:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #231f20">The Plan will
be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>tm2412361d2_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 40%; font-size: 10pt"><IMG SRC="tm2412361d1_ex5-1img001.jpg" ALT=""><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">155 Wellington Street West<BR>
    Toronto, ON M5V 3J7 Canada</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>dwpv.com</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;File 199406</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April&nbsp;26, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Agnico Eagle Mines Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">145 King Street East</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Suite&nbsp;400</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, ON M5C 2Y7</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Sirs/Mesdames:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Re:</B></TD><TD><B>Post-Effective Amendment No.&nbsp;3 to Form&nbsp;S-8 Registration Statement No.&nbsp;333-130339 and<BR>
 Post-Effective Amendment No.&nbsp;4
to Form&nbsp;S-8 Registration Statement No.&nbsp;333-152004</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have acted as Canadian counsel to Agnico Eagle Mines Limited (the
 &ldquo;<B>Corporation</B>&rdquo;) in connection with the filing of the Corporation&rsquo;s Post-Effective Amendment No.&nbsp;3 to Form&nbsp;S-8
Registration Statement No.&nbsp;333-130339 and Post-Effective Amendment No.&nbsp;4 to Form&nbsp;S-8 Registration Statement No.&nbsp;333-152004
(such registration statements, as amended, the &ldquo;<B>Registration Statements</B>&rdquo;) with the United States Securities and Exchange
Commission pursuant to the <I>United States Securities Act of 1933</I>, as amended (the &ldquo;<B>Act</B>&rdquo;), and the rules&nbsp;and
regulations thereunder, relating to the registration under the Act of the offer and sale of (i)&nbsp;12,877,775 common shares of the
Corporation (&ldquo;<B>Common Shares</B>&rdquo;) issuable pursuant to the Corporation&rsquo;s Amended and Restated Employee Stock Option
Plan and (ii)&nbsp;3,653,260 Common Shares issuable pursuant to the Corporation&rsquo;s Amended and Restated Incentive Share Purchase
Plan (the &ldquo;<B>Share Purchase Plan</B>&rdquo;). On March&nbsp;8, 2024, the board of directors of the Corporation approved the amendment
of the Share Purchase Plan to increase the number of Common Shares reserved for issuance by the Corporation under the Share Purchase
Plan by 4,000,000 Common Shares, so that the maximum number of Common Shares reserved for issuance by the Corporation under the Share
Purchase Plan is 13,600,000 Common Shares, of which 4,121,617 Common Shares (the &ldquo;<B>Opinion Shares</B>&rdquo;) remain available
for future issuances by the Corporation as of the date of this opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the opinion hereafter expressed, we have reviewed
such documents and given consideration to such matters of law and fact as we have deemed necessary to render the opinion. As to certain
matters of fact, we have relied upon a certificate of an officer of the Corporation dated the date hereof. For the purposes of the opinion
expressed below, we have assumed, without independent investigation or verification, the genuineness of all signatures (whether on originals
or copies of documents) and the authority of all persons signing documents examined by us, the legal capacity of all natural persons,
the authenticity of all documents and instruments submitted to us as originals, the conformity to originals of all documents and instruments
submitted to us as certified, conformed, photostatic or facsimile copies thereof and the authenticity of the originals of such copies
and facsimiles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2412361d1_ex5-1img002.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2412361d1_ex5-1img003.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We express no opinion as to the laws or any matters governed by any
laws of any jurisdiction other than the laws of the Province of Ontario and the laws of Canada applicable therein. The opinion herein
is based on the laws of the Province of Ontario and the laws of Canada applicable therein in effect on the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Based on and subject to the foregoing, we are of the opinion that the
Opinion Shares will be, when issued and delivered in accordance with the terms and conditions of the Share Purchase Plan, validly issued
and outstanding as fully paid and non-assessable Common Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consent to the filing of this opinion as an exhibit to the Registration
Statements. In giving this consent, we do not hereby admit that we are in the category of persons whose consent is required by Section&nbsp;7
of the Act or the rules&nbsp;and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Yours very truly,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/S/ DAVIES WARD PHILLIPS&nbsp;&amp; VINEBERG LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>tm2412361d2_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit&nbsp;23.1</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the incorporation by reference&nbsp;in
this Post-Effective Amendment to the Registration Statements on Form&nbsp;S-8 (Commission No.&nbsp;333-130339 and 333-152004) pertaining
to the Agnico Eagle Mines Limited Amended and Restated Employee Stock Option Plan and the Agnico Eagle Mines Limited Amended and Restated
Incentive Share Purchase Plan of our reports dated March&nbsp;22, 2024 with respect to the consolidated financial statements of Agnico
Eagle Mines Limited, and the effectiveness of internal control over financial reporting of Agnico Eagle Mines Limited included in its
Annual Report on Form&nbsp;40-F, for the year ended December&nbsp;31, 2023, filed with the Securities and Exchange Commission on March&nbsp;25,
2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Toronto, Canada</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April&nbsp;26, 2024</FONT></TD>
    <TD>/s/ ERNST &amp; YOUNG LLP</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ERNST&nbsp;&amp; YOUNG LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chartered Professional Accountants<BR>
Licensed Public Accountants</FONT></TD></TR>
  </TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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