<SEC-DOCUMENT>0001654954-21-006777.txt : 20210611
<SEC-HEADER>0001654954-21-006777.hdr.sgml : 20210611
<ACCEPTANCE-DATETIME>20210611110101
ACCESSION NUMBER:		0001654954-21-006777
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210611
FILED AS OF DATE:		20210611
DATE AS OF CHANGE:		20210611

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ELDORADO GOLD CORP /FI
		CENTRAL INDEX KEY:			0000918608
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31522
		FILM NUMBER:		211010260

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 1188 - BENTALL 5
		STREET 2:		550 BURRARD STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2B5
		BUSINESS PHONE:		(604) 687-4018

	MAIL ADDRESS:	
		STREET 1:		SUITE 1188 - BENTALL 5
		STREET 2:		550 BURRARD STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2B5

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ELDORADO CORP LTD                                       /FI
		DATE OF NAME CHANGE:	19960701

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ELDORADO GOLD CORP                                      /FI
		DATE OF NAME CHANGE:	19940203
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ego_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<title>JA Filed by Filing Services Canada Inc. 403-717-3898</title>
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<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">FORM 6-K</font></font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
Washington, D.C. 20549</font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Report of Foreign Private
Issuer</font></font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Pursuant to Rule 13a-16 or 15d-16<br>
of the Securities Exchange Act of 1934</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman">For the month of
June 11, 2021<br></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman">Commission File
Number &#xA0;<font style="font-weight: bold">001-31522</font></font></div>
<div>
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<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Eldorado Gold Corporation<br></font>
(Translation of registrant's name into English)</font></div>
</td>
</tr><tr>
<td style="width: 640px">
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold"><br>
1188-550 Burrard Street</font></font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Bentall 5</font></font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Vancouver, B.C.</font></font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Canada &#xA0;V6C 2B5<br></font> (Address of
principal executive offices)<br></font></div>
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<div style="text-align: left; line-height: 1.45; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><font style="font-size: 13px; font-family: Times New Roman">Indicate by check
mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.</font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman">Form
20-F&#xA0;&#xA0;&#xA0; [ <font style="font-weight: bold">&#xA0;&#xA0;</font>] &#xA0;&#xA0;&#xA0; Form
40-F&#xA0;&#xA0;&#xA0; [<font style="font-weight: bold">X</font>]</font></div>
<div style="text-align: left; line-height: 1.45; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px"><font style="font-family: Times New Roman;">Indicate by check mark if the
registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1): ____</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-left: 48px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px"><font style="font-family: Times New Roman"><font style="font-weight: bold">Note:</font> Regulation&#xA0;S-T
Rule&#xA0;101(b)(1) only permits the submission in paper of a
Form&#xA0;6-K if submitted solely to provide an attached annual
report to security holders.<br></font></font></div>
<div style="text-align: left; line-height: 1.45; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px"><font style="font-family: Times New Roman;">Indicate by check mark if the
registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7): ____</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-left: 48px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px"><font style="font-family: Times New Roman"><font style="font-weight: bold">Note:</font> Regulation&#xA0;S-T
Rule&#xA0;101(b)(7) only permits the submission in paper of a
Form&#xA0;6-K if submitted to furnish a report or other document
that the registrant foreign private issuer must furnish and make
public under the laws of the jurisdiction in which the registrant
is incorporated, domiciled or legally organized (the registrant's
"home country"), or under the rules of the home country exchange on
which the registrant's securities are traded, as long as the report
or other document is not a press release, is not required to be and
has not been distributed to the registrant's security holders, and,
if discussing a material event, has already been the subject of a
Form&#xA0;6-K submission or other Commission filing on
EDGAR.</font></font></div>
<div style="text-align: left; line-height: 1.45; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px"><font style="font-size: 11px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-size: 11px"><font style="font-size: 13px">Indicate by check
mark whether by furnishing the information contained in this Form,
the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange
Act of 1934.</font></font></font></font></font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman">Yes &#xA0;[
&#xA0;&#xA0;&#xA0;] &#xA0;No [ <font style="font-weight: bold">X</font> ]</font></div>
<div style="text-align: left; line-height: 1.45; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman">If "Yes" is marked,
indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;"><br>
</font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Signatures</font></font></div>
<div style="text-align: left; line-height: 1.45; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.</font></div>
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<div><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">ELDORADO GOLD CORPORATION</font></font></div>
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<td style="vertical-align: top; width: 50%; border-bottom: medium solid rgb(255, 255, 255);">
<font style="font-size: 13px; font-family: Times New Roman">Date:
June 11, 2021</font></td>
<td style="vertical-align: top; width: 3%; border-bottom: medium solid rgb(255, 255, 255);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">By:&#xA0;&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 35%; border-bottom: 2px solid black; white-space: nowrap;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">/s/ <font style="font-size: 13px; font-family: Times New Roman">Karen Aram</font>
&#xA0;</font></div>
</td>
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<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
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</td>
<td style="vertical-align: bottom; width: 35%; white-space: nowrap;">
<font style="font-size: 13px; font-family: Times New Roman">Karen
Aram, Corporate Secretary</font></td>
<td style="width: 12%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;<br></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><font style="font-size: 13px; font-family: Times New Roman">Exhibits</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-weight: bold"><font style="font-weight: bold"><font style="font-family: Times New Roman; font-weight: bold;">Exhibit
No.<br></font></font></font></font></div>
</td>
<td style="width: 1%;">
<div><font style="font-size: 13px"><font style="font-weight: bold;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 87%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-weight: bold"><font style="font-weight: bold"><font style="font-family: Times New Roman; font-weight: bold;">Description</font></font></font></font></div>
</td>
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<td style="vertical-align: middle; width: 12%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: rgb(0, 0, 0);"><a href="ego_ex991.htm"><font style="font-size: 13px"><font style="vertical-align: bottom;"><font style="vertical-align: bottom;"><font style="vertical-align: bottom;">99.1</font></font></font></font></a></font></div>
</td>
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<div><font style="font-size: 13px"><font style="vertical-align: bottom;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 87%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">Amended and
Restated Performance Share Unit Plan<br></div>
</td>
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</div>
&#xA0;
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<br></font></div>
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<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">2</font></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ego_ex991.htm
<DESCRIPTION>AMENDED AND RESTATED PERFORMANCE SHARE UNIT PLAN
<TEXT>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
ELDORADO GOLD CORPORATION</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
<font style="font-weight: bold">AMENDED AND RESTATED PERFORMANCE
SHARE UNIT PLAN</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
for Designated Participants</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
<font style="font-weight: bold">as approved by Shareholders as of
June 10, 2021</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">1.</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; color: #000000; font-family: Times New Roman; font-size: 13px">
Purpose of the Plan</font></div>
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<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">1.1</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The purposes of the
Plan are to:</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">promote the
alignment of interests between Designated Participants and the
shareholders of the Company;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">assist the Company
in attracting, retaining and motivating employees and officers of
the Company and of its related entities; and</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">provide a
compensation system for Designated Participants that is reflective
of the responsibility, commitment and risk accompanying their
management role over the medium term.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">2.</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; color: #000000; font-family: Times New Roman; font-size: 13px">
Definitions</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.1</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">For the purposes of
the Plan, the following terms have the respective meanings set
forth below:</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Black-Out Period</font>&#x201D; means that
period during which a trading black-out period is imposed by the
Company to restrict trades in the Company&#x2019;s securities by a
Designated Participant;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Board</font>&#x201D; means the board of
directors of the Company;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Business Combination</font>&#x201D; has the
meaning ascribed to that term in Subsection&#xA0;9.7;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(d)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Cause</font>&#x201D; means any act, which at
common law in the applicable jurisdiction, would be considered
cause for dismissal without the obligation to provide notice or pay
in lieu of notice;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(e)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Change of Control</font>&#x201D;
means:</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 96px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(i)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">an acquisition of
40% or more of the voting rights attached to all outstanding voting
shares of the Company by a person or combination of persons acting
in concert by virtue of an agreement, arrangement, commitment or
understanding, or by virtue of a related series of such events, and
whether by transfer of existing shares or by issuance of shares
from treasury or both; or</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="margin-left: 96px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(ii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">the amalgamation,
consolidation or combination of the Company with, or merger of the
Company into, any other person, whether by way of amalgamation,
arrangement or otherwise, unless (1) the Company is the surviving
person or the person formed by such amalgamation, consolidation or
combination, or into which the Company has merged, is a corporation
and (2) immediately after giving effect to such transaction at
least 60% of the voting rights attached to all outstanding voting
shares of the Company or the corporation resulting from such
amalgamation, consolidation or combination, or into which the
Company is merged, as the case may be are owned by persons who held
the voting rights attached to all outstanding voting shares of the
Company immediately before giving effect to such transaction;
or</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 96px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(iii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">the direct or
indirect transfer, conveyance, sale, lease or other disposition, by
virtue of a single event or a related series of such events, of 90%
or more of the assets of the Company based on gross fair market
value to any person unless (1) such disposition is to a corporation
and (2) immediately after giving effect to such disposition, at
least 60% of the voting rights attached to all outstanding voting
shares of such corporation are owned by the Company or its related
entities or by persons who held the voting rights attached to all
outstanding voting shares of the Company immediately before giving
effect to such disposition; or</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 96px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(iv)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">individuals who are
elected by the shareholders to the Board at the beginning of any
one year term to constitute the directors of the Company cease for
any reason in such year to constitute at least 50% of the
Board;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(f)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Company</font>&#x201D; means Eldorado Gold
Corporation;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(g)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Compensation Committee</font>&#x201D; means the
compensation committee of the Board and if there is none, means the
full Board;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(h)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Designated Participant</font>&#x201D; means such
employees or officers of the Company or a related entity of the
Company as the Board may designate from time to time as eligible to
participate in the Plan;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(i)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Disability</font>&#x201D; means a physical or
mental incapacity of a nature which the Board determines prevents
or would prevent the Designated Participant from satisfactorily
performing the substantial and material duties of his or her
position with the Company or the related entity of the Company, as
the case may be;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(j)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Exchange</font>&#x201D; means, if the Shares are
listed on the TSX, the TSX and, if the Shares are not listed on the
TSX, any other principal exchange upon which the Shares are
listed;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(k)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Grant Date</font>&#x201D; has the meaning
ascribed to that term in Subsection&#xA0;5.1;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(l)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Insider</font>&#x201D; means a reporting insider
as defined under National Instrument 55-104 &#x2013; <font style="font-style: italic">Insider Reporting Requirements and
Exemptions</font>;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(m)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Market Value</font>&#x201D; of a Performance
Share Unit or a Share means, on any given date, the closing price
per share of the Shares on the Exchange on the Trading Day
immediately preceding the relevant date and if there was no closing
price on the Exchange on such date, then the last closing price
prior thereto provided that if the Shares are suspended from
trading or have not traded on the Exchange for an extended period
of time, then the market value will be the fair market value of a
Share as determined by the Board in its sole
discretion;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(n)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">NI&#xA0;45-106</font>&#x201D; means National
Instrument 45-106 &#x2013; <font style="font-style: italic">Prospectus and Registration
Exemptions</font>;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(o)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Performance Period</font>&#x201D; means a period
as specified by the Board in accordance with Subsection&#xA0;5.1
after the expiration of which and subject to the terms herein, a
Designated Participant may be or becomes entitled to receive Shares
issuable and/or amount payable on account of the redemption of
Performance Share Units;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(p)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Performance Share Unit Account</font>&#x201D;
has the meaning ascribed thereto in
Subsection&#xA0;6.1;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(q)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Performance Share Units</font>&#x201D; or
&#x201C;<font style="font-weight: bold">PSUs</font>&#x201D; means a
bookkeeping entry, denominated in Shares (on a one for one basis,
unless otherwise provided for in the PSU Agreement), credited to
the Performance Share Unit Account of a Designated Participant in
accordance with the provisions hereof;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(r)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Plan</font>&#x201D; means this Performance Share
Unit Plan of the Company as set forth herein as the same may be
amended and/or restated from time to time;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(s)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">PSU Agreement</font>&#x201D; has the meaning
ascribed thereto in Subsection&#xA0;5.3;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px;">(t)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Redemption Date</font>&#x201D; means, subject to
Subsection&#xA0;11.1, in respect of a Vested PSU, the first day
following the expiry of the Performance Period applicable to the
PSU, except as otherwise provided in Schedule B with respect to
PSUs of U.S. Designated Participants;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px;">(u)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Regulators</font>&#x201D; has the meaning
ascribed thereto in Subsection 10.1;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(v)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">related entity</font>&#x201D; has the meaning
ascribed to that term in Section&#xA0;2.22 of
NI&#xA0;45-106;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(w)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">retirement</font>&#x201D; means termination of
employment or engagement with the Company or a related entity of
the Company by a Designated Participant after not less than ten
(10) years of continuous full time service to the Company or a
related entity of the Company provided that on the date of
termination the Designated Participant is not less than 58 years
old;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(x)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">security based compensation
arrangement</font>&#x201D; means</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 96px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(i)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">stock option plans
of the Company for the benefit of employees, insiders, service
providers or any one of such groups;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 96px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(ii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">individual stock
options granted to employees, service providers or insiders if not
granted pursuant to a plan previously approved by the Company's
shareholders;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 96px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(iii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">stock purchase
plans where the Company provides financial assistance or where the
Company matches the whole or a portion of the securities being
purchased;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 96px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(iv)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">stock appreciation
rights involving issuances of securities from treasury of the
Company;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 96px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(v)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">any other
compensation or incentive mechanism involving the issuance or
potential issuances of securities from treasury of the Company;
and</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 96px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(vi)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">security purchases
from treasury by an employee, insider or service provider which is
financially assisted by the Company by any means
whatsoever,</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 96px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">and for
greater certainty, arrangements which do not involve the issuance
from treasury or potential issuance from treasury of the Company
are not security based compensation arrangements;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
<div id="pb" style="text-align: center; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; page-break-after: always; width: 100%; height: 1px; background-color: #000000">
<!--page break line--></div>
<div id="hdr">
<div style="text-align: right; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(y)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Share</font>&#x201D; means, subject to
Section&#xA0;9 hereof, a Common share without par value in the
capital of the Company;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(z)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Take-Over Bid</font>&#x201D; has the meaning
ascribed to that term in Subsection&#xA0;9.6;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(aa)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Trading Day</font>&#x201D; means any day on
which the Exchange is open for trading of Shares provided that if
the Shares are no longer listed on any stock exchange, means any
day which is a business day in British Columbia;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(bb)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">TSX</font>&#x201D; means the Toronto Stock
Exchange;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(cc)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">U.S. Designated Participant</font>&#x201D; means
any Designated Participant subject to tax under the United States
Internal Revenue Code of 1986 in respect of compensation from the
Company or its related entity; and</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(dd)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Vested PSU</font>&#x201D; has the meaning
ascribed to that term in Subsection&#xA0;7.1.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.2</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Unless otherwise
agreed to in writing by the Board, a reference in respect of
employment or engagement of employees or officers to
&#x201C;<font style="font-weight: bold">termination</font>&#x201D;,
&#x201C;<font style="font-weight: bold">termination
date</font>&#x201D;, &#x201C;<font style="font-weight: bold">date of
termination</font>&#x201D; or similar terms herein is deemed to be
the day that is the last day of active employment or engagement
with the Company or its related entity, as the case may be,
regardless of any salary continuance or notice period required
under applicable law or the reason for termination of employment or
engagement (whether with or without cause or with or without
notice).</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.3</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Unless otherwise
indicated, all dollar amounts referred to in this Plan are in
Canadian funds.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.4</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">As used in this
Plan,</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">unless the context
otherwise requires, words importing the masculine gender shall
include the feminine and neuter genders and words importing the
singular shall include the plural and vice versa;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">unless the context
otherwise requires, the expressions &#x201C;<font style="font-weight: bold">herein</font>&#x201D;, &#x201C;<font style="font-weight: bold">hereto</font>&#x201D;, &#x201C;<font style="font-weight: bold">hereof</font>&#x201D;,&#x201D; <font style="font-weight: bold">hereunder</font>&#x201D; or other similar terms
refer to the Plan as a whole, together with the schedules, and
references to a Section, Subsection, paragraph or Schedule by
number or letter or both refer to the Section, Subsection,
paragraph or Schedule, respectively, bearing that designation in
the Plan; and</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">the term
&#x201C;<font style="font-weight: bold">include</font>&#x201D; (or
words of similar import) is not limiting whether or not
non-limiting language (such as &#x201C;<font style="font-weight: bold">without limitation</font>&#x201D; or words of
similar import) is used with reference thereto.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">3.</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; color: #000000; font-family: Times New Roman; font-size: 13px">
Administration of the Plan</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">3.1</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Plan shall be
administered by the Compensation Committee.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">3.2</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Chief Executive
Officer of the Company or the Chairman of the Board shall
periodically make recommendations to the Compensation Committee as
to the grant of PSUs.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">3.3</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Compensation
Committee shall, periodically, after considering the
recommendations of the Chief Executive Officer and the Chairman,
make recommendations to the Board as to the grant of
PSUs.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">3.4</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">In addition to the
powers granted to the Board under the Plan and subject to the terms
of the Plan, the Board shall have full and complete authority to
grant PSUs, to interpret the Plan, to prescribe such rules and
regulations as it deems necessary for the proper administration of
the Plan and to make such determinations and to take such actions
in connection therewith as it deems necessary or advisable. Any
such interpretation, rule, determination or other act of the Board
shall be conclusively binding upon all persons.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
<div id="pb" style="text-align: center; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; page-break-after: always; width: 100%; height: 1px; background-color: #000000">
<!--page break line--></div>
<div id="hdr">
<div style="text-align: right; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">3.5</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Board may
authorize one or more officers of the Company to execute and
deliver and to receive documents on behalf of the
Company.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">4.</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; color: #000000; font-family: Times New Roman; font-size: 13px">
Shares Subject to the Plan</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">4.1</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The maximum number
of Shares which may be issued from treasury<font style="font-weight: bold">&#xA0;</font>under the Plan shall not exceed
3,126,000<font style="font-weight: bold">&#xA0;</font>Shares,
subject to adjustment as provided in Section&#xA0;9.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px">4.2</font><font id="tab2" style="letter-spacing: 12px; color: black">&#xA0;</font><font style="font-family: Times New Roman; font-size: 13px">Notwithstanding
anything in this Plan to the contrary:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">the maximum number
of Shares issuable from treasury pursuant to the redemptions of
PSUs granted under the Plan to Insiders, together with the number
of Shares issuable to Insiders under any other security based
compensation arrangements, shall not exceed 9% of the Shares issued
and outstanding on a non-diluted basis at the Grant Date of the
PSUs; and</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">within any one-year
period, the maximum number of Shares issued pursuant to the
redemption of PSUs granted under the Plan to Insiders, together
with the number of Shares issued to Insiders pursuant to any other
security based compensation arrangements, shall not exceed 9% of
the Shares issued and outstanding on a non-diluted
basis.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Any
entitlement to acquire Shares granted pursuant to the Plan or
otherwise prior to the grantee becoming an Insider shall be
excluded for the purpose of the limits set out above.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.3</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Shares reserved
from treasury in respect of which PSUs have been cancelled or
otherwise terminated for any reason (other than the redemption of
the PSUs) shall be available for subsequent grants of PSUs under
the Plan.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">5.</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; color: #000000; font-family: Times New Roman; font-size: 13px">
Grants of PSUs</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">5.1</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Subject to the
provisions of the Plan, the Board shall have the right to grant, in
its sole discretion and from time to time, to any Designated
Participants PSUs as a discretionary grant with such terms and
conditions as the Board may determine. The Board shall also
determine, in its sole discretion, in connection with each grant of
PSUs:</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">the date on which
such PSUs are to be granted (the &#x201C;<font style="font-weight: bold">Grant Date</font>&#x201D;);</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">the number of PSUs
to be granted;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">the terms under
which a PSU shall vest;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(d)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">the Performance
Period<font style="font-weight: bold">,</font> provided that the
Performance Period with respect to a grant of PSUs shall not exceed
that period commencing on January 1 coincident with or immediately
preceding the grant and ending on November 30 of the third year
following the calendar year in which such PSUs were
granted;<font style="font-weight: bold">&#xA0;</font>and</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(e)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">any other terms and
conditions (which need not be identical) of all PSUs covered by any
grant.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">5.2</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">If the PSUs are
inadvertently granted during a Black-Out Period, then the Grant
Date shall be deemed to be the first Trading Day following the end
of the Black-Out Period.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">5.3</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Upon the grant of a
PSU, the Designated Participant and the Company shall enter into a
PSU agreement (&#x201C;<font style="font-weight: bold">PSU
Agreement</font>&#x201D;) in a form set out in Schedule A or in such
other form as approved by the Board, which shall set out the name
of the Designated Participant, the number of PSUs, the Performance
Period, the vesting terms, the Grant Date, and such other terms and
conditions as the Board may deem appropriate.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">5.4</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">A PSU is personal
to the Designated Participant and is non-assignable and
non-transferable other than by will or by the laws governing the
devolution of property in the event of death of the Designated
Participant.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">6.</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; color: #000000; font-family: Times New Roman; font-size: 13px">
Accounts</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">6.1</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">An account, to be
known as a &#x201C;<font style="font-weight: bold">Performance Share
Unit Account</font>&#x201D;, shall be maintained by the Company for
each Designated Participant and shall be credited with such number
of PSUs as are granted to or otherwise credited to a Designated
Participant from time to time. Each Designated Participant&#x2019;s
Performance Share Unit Account shall indicate the number of PSUs
which have been credited to such account from time to time in
accordance with the terms hereunder together with the Performance
Period and vesting terms in accordance with the terms
herein.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">6.2</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Whenever cash
dividends are paid on the Shares, additional Performance Share
Units will be credited to the Designated Participant&#x2019;s
Performance Share Unit Account in accordance with this Subsection
6.2. The number of such additional PSUs will be calculated by
dividing the total cash dividends that would have been paid to such
Designated Participant if the PSUs recorded in the Designated
Participant&#x2019;s Performance Share Unit Account as at the record
date for the dividend had been Shares by the Market Value on the
Trading Day immediately after the record date, rounded down to the
next whole number of Performance Share Units.<font style="font-weight: bold">&#xA0;</font>No fractional Performance Share
Units will thereby be created.<font style="font-weight: bold">&#xA0;</font>If such Trading Date is during a
Black-Out Period, then said day shall be the first Trading Day
following the end of the Black-Out Period.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">6.3</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">PSUs that have not
vested in accordance with the Plan within the relevant Performance
Period, have not otherwise met the requirements for redemption, or
that are redeemed in accordance with the Plan, shall be cancelled
and a notation to such effect shall be recorded in the Designated
Participant&#x2019;s Performance Share Unit Account and the
Designated Participant will have no further right, title or
interest in such PSUs and, for greater certainty, in any related
Share or other right, except in the case of Vested PSUs that have
been redeemed but the payment has not been paid to the Designated
Participant, the right to receive the payment applicable to the
redeemed Vested PSU less any amounts that may be withheld or
deducted hereunder.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">7.</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; color: #000000; font-family: Times New Roman; font-size: 13px">
Vesting, Redemption and Payment of Performance Share
Units</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">7.1</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Unless otherwise
specified by the Board, subject to the remaining provisions of this
Section&#xA0;7, PSUs granted to a Designated Participant (including
any additional PSUs credited to Designated Participants pursuant to
Subsection 6.2) shall vest on the achievement of performance
vesting targets as determined by the Board in its sole discretion
and in each case as set out in the Designated Participant&#x2019;s
PSU Agreement. Subject to Section 8, and Schedule B with respect to
U.S. Designated Participants, PSUs may not be redeemed until the
Redemption Date applicable to such PSU occurs and the performance
targets have been met as determined by the Board in its sole
discretion. Except where the context requires otherwise, each PSU
which is vested pursuant to this Section&#xA0;7 shall be referred
to herein as a &#x201C;<font style="font-weight: bold">Vested
PSU</font>&#x201D;.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">7.2</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Subject to Section
8 and Subsection&#xA0;11.1, all Vested PSUs shall be redeemed by
the Company on the Redemption Date of the Vested PSU and subject to
any withholding requirements and Section&#xA0;8, each Designated
Participant shall receive, with respect to all PSUs that are Vested
PSUs, at the election of the Board in its sole
discretion:</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">a cash payment
equal to the Market Value of such Vested PSUs as of the Redemption
Date; or</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">such number of
Shares, as are equal (unless otherwise provided for in the PSU
Plan) to the number of such Vested PSUs; or</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">any combination of
the foregoing, such that the cash payment plus such number of
Shares, have a value equal to the Market Value of such Vested PSUs
as of the Redemption Date;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">in each
case as soon as practicable following the Redemption Date, and in
any event, for non-U.S. Designated Participants, no later than
December 31 of the third calendar year following the calendar year
in which the PSUs were granted, and for U.S. Designated
Participants, no later than 30 days following the Redemption
Date.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">7.3</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">T</font>he Company shall not be required to
deliver fractional Shares on account of the redemption of PSUs. If
any fractional interest in a Share would, except for this
provision, be deliverable on account of the redemption of PSUs,
such fractional interest shall be rounded down to the next whole
number of such Shares.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">8.</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; color: #000000; font-family: Times New Roman; font-size: 13px">
Termination of Employment and Engagement</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">8.1</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Notwithstanding any
other provision herein, if a Designated Participant&#x2019;s
employment or engagement with the Company or its related entity is
terminated prior to the expiry of the Performance Period except in
circumstances where Subsections 8.2 and 8.3 apply, then, unless the
Board, in its sole discretion, determines otherwise, all
outstanding PSUs of the Designated Participant, whether or not
vested, and any and all rights (including rights to a payment (cash
or Shares)) with respect to such outstanding PSUs shall be
forfeited and cancelled effective as of the termination
date.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">8.2</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Subsection 8.1
shall not apply if a Designated Participant's employment or
engagement with the Company or its related entity is terminated
prior to the expiry of the Performance Period:</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">by the Company or
its related entity, for any reason other than for Cause, at any
time in the 12 months following a Change of Control of the Company,
or</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">by the Designated
Participant, if the Company or its related entity makes a material
adverse change in the location, salary, duties or responsibilities
assigned to the Designated Participant, at any time in the 12
months following a Change of Control of the Company and the
Designated Participant has provided notice in writing to the
Company within 30 days of such material adverse change to terminate
employment, engagement or directorship, or</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">as a result of
Disability or the Designated Participant's death,</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">and the
Designated Participant will continue to be entitled to payment on
the date of termination of any PSUs of the Designated Participant
that are vested on the termination date and any PSUs which are
capable of vesting subsequent to the termination date and prior to
the expiry of the Performance Period shall be deemed to have vested
on the termination date and the Designated Participant will be
entitled to payment of such Vested PSUs and notwithstanding any
other provision herein the Redemption Date shall be the date of
termination.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">8.3</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">If the Designated
Participant&#x2019;s employment or engagement with the Company or
its related entity is terminated prior to the expiry of the
Performance Period as a result of retirement then Subsection 8.1
shall not apply and the Designated Participant will continue to be
entitled to payment on the Redemption Date of that number of PSUs
equal to the number of the Designated Participant&#x2019;s PSUs that
are vested on the Redemption Date multiplied by the Employment
Factor, except as otherwise provided in Schedule B with respect U.S
Designated Participants. For the purposes of this subsection,
&#x201C;<font style="font-weight: bold">Employment
Factor</font>&#x201D; means x/y where:</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x2018;x&#x2019; is
the number of days from and including the commencement of the
Performance Period to and including the date of termination of
employment or engagement of the Designated Participant;
and</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">&#x2018;y&#x2019; is
the number of days from and including the commencement of the
Performance Period to and including the last day of the Performance
Period.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">8.4</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">For greater
certainty, notwithstanding any other provision herein (other than
Subsections 10.1 and 10.2), a Vested PSU may not be redeemed later
than the Redemption Date.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">9.</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; color: #000000; font-family: Times New Roman; font-size: 13px">
Adjustment on Alteration of Share Capital</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">9.1</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">In the event of a
subdivision, consolidation or reclassification of outstanding
Shares or other capital adjustment, or the payment of a stock
dividend thereon, then the number of Shares equal to a PSU shall be
increased or reduced proportionately and such other adjustments
shall be made as may be deemed necessary or equitable by the Board
in its sole discretion and such adjustment shall be binding for all
purposes.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">9.2</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">In the event of a
change to the Company&#x2019;s currently 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 within
the meaning of the Plan.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">9.3</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Unless the Board
otherwise determines in good faith, if the Company amalgamates,
consolidates or combines with or merges with or into another body
corporate, whether by way of amalgamation, arrangement or otherwise
(the right to do so being hereby expressly reserved), then the
obligation to deliver a Share pursuant to the redemption of a PSU
under Subsection 7.2 may be satisfied by the delivery of the
securities, property and/or cash which the Designated Participant
would have received upon such amalgamation, consolidation,
combination or merger if the Designated Participant&#x2019;s PSU was
redeemed immediately prior to the effective date of such
amalgamation, consolidation, combination or merger.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">9.4</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Unless the Board
otherwise determines in good faith, if the Company amalgamates,
consolidates or combines with or merges with or into another body
corporate, whether by way of amalgamation, arrangement or otherwise
(the right to do so being hereby expressly reserved) or a
successful take-over bid is made for all or substantially all of
the Shares, then for the purposes of determining the cash payment
to be made to a Designated Participant on the redemption of a PSU
under Subsection 7.2, the cash payment shall be equal to the fair
market value on the Redemption Date of the securities, property
and/or cash which the Designated Participant would have received
upon such amalgamation, consolidation, combination or merger if the
Designated Participant&#x2019;s PSU was redeemed immediately prior
to the effective date of such amalgamation, consolidation,
combination or merger or take-over, as determined in good faith by
the Board in its sole discretion and such determination shall be
binding for all purposes of the Plan.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">9.5</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">In the event of any
other change affecting the Shares, then if deemed necessary or
equitable by the Board in its sole discretion to properly reflect
such change, an adjustment may be made which shall be binding for
all purposes of the Plan.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">9.6</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">If, at any time
when a PSU granted under the Plan has not been redeemed, an offer
(&#x201C;<font style="font-weight: bold">Take-Over
Bid</font>&#x201D;) to purchase all or substantially all of the
Shares of the Company is made by a third party by means of a
take-over bid circular, the Company shall use its best efforts to
bring such offer to the attention of the Designated Participant as
soon as practicable and the Board may, in a fair and equitable
manner, in its sole discretion, require the acceleration of the
time for the vesting or redemption of the PSU granted under the
Plan and of the time for or waiver of the fulfillment of any
conditions or restrictions on such redemption (including without
limitation, vesting requirements).</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">9.7</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Notwithstanding any
other provision herein, if because of a proposed merger,
amalgamation, compulsory acquisition or other corporate arrangement
or reorganization, the exchange or replacement of Shares in the
Company for securities, property or cash in or from another company
is imminent (&#x201C;<font style="font-weight: bold">Business
Combination</font>&#x201D;), the Board may, in a fair and equitable
manner in its sole discretion, determine the manner in which all
outstanding PSUs shall be treated including, for example, requiring
the acceleration of the time for vesting and redemption of the PSU
by the Designated Participant and of the time for or waiver of the
fulfillment of any conditions or restrictions on such redemption
(including without limitation, vesting requirements) or providing
that any Share which would be receivable by a Designated
Participant in respect of a redemption of a PSU prior to the
effective time of the Business Combination be replaced with the
securities, property or cash which the Designated Participant would
have received if the Designated Participant had redeemed his or her
PSU immediately prior to the effective time of the Business
Combination and received Shares, and make any adjustment as may be
deemed necessary or equitable by the Board in its sole discretion
(including consideration of tax law implications). All
determinations of the Board under this Subsection&#xA0;shall be
binding for all purposes of the Plan.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">9.8</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">In order to permit
Designated Participants to participate in a proposed Take-Over Bid
or a proposed Business Combination that could result in a Change of
Control, the Board may in its sole discretion make appropriate
provisions for the redemption of PSUs (whether vested or not)
conditional upon the Shares resulting therefrom being taken up and
paid for under the Take-Over Bid or the completion of the Business
Combination, as applicable.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">9.9</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">No adjustment
provided in this Section&#xA0;9 shall require the Company to
deliver a fractional PSU or Share or cash payment in lieu thereof
and the total adjustment with respect to each PSU or Share shall be
limited accordingly.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">10.</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; color: #000000; font-family: Times New Roman; font-size: 13px">
Regulatory Approval</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">10.1</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Notwithstanding any
of the provisions contained in the Plan, Designated
Participant&#x2019;s PSU Agreement or any term of a PSU, the
Company&#x2019;s obligation to grant PSUs, deliver Shares hereunder
or make payments to a Designated Participant hereunder shall be
subject to:</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">compliance with all
applicable laws, regulations, rules, orders of governmental or
regulatory authorities, including without limitation, any stock
exchange on which the Shares are listed (&#x201C;<font style="font-weight: bold">Regulators</font>&#x201D;); and</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">receipt from the
Designated Participant of such covenants, agreements,
representations and undertakings, including as to future dealings
in such PSUs, as the Company determines to be necessary or
advisable in order to safeguard against the violation of the
securities laws of any jurisdiction.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">If the
Board determines that compliance with all applicable laws,
regulations, rules, orders referenced above (including a
consideration of tax law implications) require changes to the terms
of a PSU, such change shall be determined in good faith by the
Board in its sole discretion.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">10.2</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Notwithstanding any
provisions in the Plan, Designated Participant&#x2019;s PSU
Agreement or any term of a PSU, if any amendment, modification or
termination to the provisions hereof or any PSU made pursuant
hereto are required by any Regulator, a stock exchange or a market
as a condition of approval to a distribution to the public of any
Shares or to obtain or maintain a listing or quotation of any
Shares, the Board is authorized to make such amendments as
determined appropriate and in good faith by the Board (including
consideration of tax law implications) and thereupon the terms of
the Plan, the Designated Participant&#x2019;s PSU Agreement and any
PSUs, shall be deemed to be amended accordingly without requiring
the consent or agreement of any Designated Participant or holder of
a PSU.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">11.</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; color: #000000; font-family: Times New Roman; font-size: 13px">
Miscellaneous</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">11.1</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">If a Redemption
Date occurs during, or within two Trading Days after, a Black-Out
Period imposed by the Company, then, notwithstanding any other
provision of the Plan, the Redemption Date shall be and the
relevant PSU shall be redeemed two Trading Days after the Black-Out
Period is lifted by the Company.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
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<div id="hdr">
<div style="text-align: right; width: 100%"><font style="font-family: Times New Roman; font-size: 11px">&#xA0;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">11.2</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Plan shall not
confer upon any Designated Participant any right with respect to a
continuation of employment with or engagement by, the Company or a
related entity of the Company nor shall it interfere in any way
with the right of the Company or the related entity to terminate
any Designated Participant&#x2019;s employment or engagement at any
time.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">11.3</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">For greater
certainty, no interest shall accrue to, or be credited to, the
Designated Participant on any amount payable under the
Plan.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">11.4</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">PSUs are not Shares
and the grant of PSUs does not entitle a Designated Participant to
any rights as a shareholder of the Company nor to any rights to the
Shares or any securities of the Company. Except as expressly set
out herein, no holder of any PSU shall be entitled to receive and
no adjustment shall be made for any dividends or any other rights
to distributions declared on the Shares.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">11.5</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Company makes
no representation or warranty as to the future market value of any
PSUs or Shares granted or issued in accordance with the provisions
of the Plan.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 0px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px">11.6</font></div>
<div style="display: table; margin-left: 48px;">
<div style="display: table-row;">
<div style="text-align: left; display: table-cell; width: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)</font></div>
<div style="text-align: justify; display: table-cell; margin-left: 0px; text-indent: 0px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px">If the Company or
any of its related entities shall be required to withhold any
amounts by reason of any federal, provincial, state, local or other
laws of any jurisdiction concerning taxes, social security
contributions or other source deductions in connection with the
grants, redemption or other payments hereunder the Company or any
such related entity may deduct and withhold such amount or amounts
from any payment made by the Company or the related entity to a
Designated Participant, whether or not such payment is made
pursuant to this Plan. <font style="font-weight: bold">&#xA0;</font>In addition, or as an alternative
to such withholding from payments, the Company or any related
entity of the Company having a withholding obligation as described
above may require a Designated Participant, as a condition of the
grant or redemption of a PSU, to pay to the Company or related
entity an amount not exceeding the total of the withholding
obligation of the Company or related entity arising in respect of
the issuance or delivery of Shares or cash payment to the
Designated Participant hereunder, or to reimburse the Company or
the related entity for such amount.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Under no
circumstances shall the Company, or any related entity be
responsible for funding the payment of any tax or amount on account
of social security or other source deductions on behalf of any
Designated Participant or for providing any tax advice to any
Designated Participant.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">11.7</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">In addition to the
other terms and conditions of this Plan (and notwithstanding any
other terms or conditions of the Plan to the contrary, special
requirements for U.S. Designated Participants are set out in
Schedule B.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">12.</font></div>
<div style="text-align: justify; display: table-cell"><font style="text-decoration: underline; color: #000000; font-family: Times New Roman; font-size: 13px">
Effective Date, Amendment and Termination</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">12.1</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Plan is
effective as of May 1, 2014.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">12.2</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Board may,
subject to Shareholder approval, amend the Plan at any time.
Notwithstanding the foregoing, the Board is specifically authorized
to amend or revise the terms of the Plan without obtaining
Shareholder approval in the following circumstances:</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">to change the
termination provisions of the PSUs or Plan which does not extend
beyond the original expiry date; and</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">other amendments of
a housekeeping nature, including the correction or rectification of
any ambiguities, defective or inconsistent provisions, errors,
mistakes or omissions herein and updating provisions herein to
reflect changes in the governing laws, including tax laws, and the
TSX requirements.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Except
as otherwise permitted by the TSX, amendments to this provision as
well as amendments to the number of Shares issuable from treasury
under the Plan (including an increase to a fixed maximum number of
Shares or a fixed maximum percentage of Shares, as the case may be,
or a change from a fixed maximum number of shares to a fixed
maximum percentage) from treasury, may not be made without
obtaining approval of the Shareholders in accordance with TSX
requirements.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">12.3</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Except as set out
above, the Board may (without Shareholder approval) amend, modify
or terminate any outstanding PSU, including, but not limited to,
substituting another award of the same or of a different type or
changing the date of redemption; provided, however that, the
Designated Participant&#x2019;s consent to such action shall be
required unless the Board determines that the action, when taken
with any related action, would not materially and adversely affect
the Designated Participant or is specifically permitted
hereunder.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">12.4</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The original term
of the Performance Period may not be extended.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">12.5</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Board may
suspend or terminate the Plan at any time. No action by the Board
to terminate the Plan pursuant to this Section&#xA0;12 shall affect
any PSUs granted pursuant to the Plan prior to such
action.</font></div>
</div>
</div>
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<br></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Performance Share Unit Plan for Eldorado Gold
Corporation</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
SCHEDULE A</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Designated Participant&#x2019;s PSU Agreement</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">1.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">Agreement</font>: This agreement
(&#x201C;<font style="font-weight: bold">Agreement</font>&#x201D;)
has been entered into by Eldorado Gold Corporation (the
&#x201C;<font style="font-weight: bold">Company</font>&#x201D;) and
the Designated Participant as defined below.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">Acknowledgment</font>: The Designated
Participant acknowledges having received a copy of the Performance
Share Unit Plan as amended and/or restated from time to time (the
&#x201C;<font style="font-weight: bold">Plan</font>&#x201D;) and that
he or she has read and understands the Plan and agrees that the
terms therein (including any amendments thereto since the date of
grant) govern the grant hereunder.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">3.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">Grant</font>: Subject to the terms and
conditions of the Plan, the Company grants the Designated
Participant the Performance Share Units (&#x201C;<font style="font-weight: bold">PSUs</font>&#x201D;) set out below on the terms
and conditions set out below.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Name of Designated
Participant: ______________ (the &#x201C;<font style="font-weight: bold">Designated
Participant</font>&#x201D;)</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Date of grant:
_______________</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Number of PSUs:
_______________</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(d)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Vesting Terms:
[&#x25CF;] [insert performance targets including those applicable to
additional PSUs under Subsection 6.2 of the Plan]</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(e)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Performance Period:
[&#x25CF;] [see paragraph 5.1(d) of the Plan]</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(f)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Other Terms:
[&#x25CF;] [insert other terms if applicable]</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">Representations</font>: The Designated
Participant acknowledges that the Company makes no representation
or warranty as to the future value of any PSU granted in accordance
with the provisions of the Plan.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">5.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">Withholding Obligations</font>: The Designated
Participant acknowledges and agrees that the Company or a related
entity of the Company may be required to withhold from the
undersigned's cash compensation or entitlements under the Plan and
remit to the Canada Revenue Agency or the tax agency of the country
in which the Designated Participant resides or is otherwise subject
to tax, income taxes, social security contributions and other
required source deductions in respect of entitlements under the
Plan. Under no circumstances shall the Company or, a related entity
to the Company be responsible for the payment of any tax, social
security contributions or any other source deductions on behalf of
any Designated Participant.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">6.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">Tax Advice</font>: The Designated Participant
hereby acknowledges that the grant and redemption of PSUs may be
subject to tax under applicable federal, provincial, state or other
laws of any jurisdiction, that no representation has been made and
he or she has not received any advice from the Company as to tax or
legal ramifications of the grant or redemption of PSUs hereunder
and that he or she has been advised to seek independent tax advice
as he or she deems necessary.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">7.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">Consent to Use of Personal
Information</font>:<font style="font-weight: bold">&#xA0;</font>The
Designated Participant agrees that the Company may collect and use
personal information for any purpose that is permitted by law to be
made without the consent of the Designated Participant, or is
required by law, or by the by-laws, rules, regulations or policies
or any regulatory organization governing the Company and that the
Company may further use or disclose such information for the
following purposes:</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">to comply with
securities and tax regulatory requirements;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">to provide the
Designated Participant with information; and</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">to otherwise
administer the Plan.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">8.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">Compliance with Laws and Policies</font>: The
Designated Participant acknowledges and agrees that the undersigned
will, at all times, act in strict compliance with any and all
applicable laws and any policies of the Company applicable to the
Designated Participant in connection with the Plan.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">9.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">Terms and Conditions</font>: This Agreement is
subject to the terms and conditions set out in the Plan, and such
terms and conditions are incorporated herein by this reference and
agreed to by the Designated Participant. In the case of any
inconsistency between this Agreement and the Plan, the Plan shall
govern. Unless otherwise indicated, all defined terms shall have
the respective meanings attributed thereto in the
Plan.</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Effective
as of the _____ day of ___________________, 20____.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td colspan="2" style="vertical-align: top; width: 46%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 8%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 47%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
ELDORADO GOLD CORPORATION</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 5%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 41%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 8%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 6%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Per:</font></div>
</td>
<td style="vertical-align: bottom; width: 41%; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 41%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 8%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 6%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 41%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Authorized
Signatory</font></div>
</td>
</tr></table>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Acknowledged and Agreed to:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 5%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 47%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 49%; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 5%">
<div style="text-align: left; margin-left: 0px; margin-right: 7px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">)</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 7px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">)</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 7px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">)</font></div>
</td>
<td style="vertical-align: bottom; width: 47%; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Signature
of Designated Participant</font></div>
</td>
<td style="vertical-align: top; width: 5%">
<div style="text-align: left; margin-left: 0px; margin-right: 7px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">)</font></div>
</td>
<td style="vertical-align: top; width: 47%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Signature
of Witness</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 49%; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 5%">
<div style="text-align: left; margin-left: 0px; margin-right: 7px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">)</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 7px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">)</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 7px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">)</font></div>
</td>
<td style="vertical-align: bottom; width: 47%; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%">
<div style="text-align: left; margin-left: 0px; margin-right: 7px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name
and Title of Designated Participant</font></div>
</td>
<td style="vertical-align: top; width: 5%">
<div style="text-align: left; margin-left: 0px; margin-right: 7px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">)</font></div>
</td>
<td style="vertical-align: top; width: 47%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name of
Witness</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<br></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
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Performance Share Unit Plan for Eldorado Gold
Corporation</font></div>
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SCHEDULE B</font></div>
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Additional Terms for U.S. Designated Participants</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">1.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">It is intended that
PSUs of U.S. Designated Participants shall be exempt from Section
409A of the U.S. Internal Revenue Code (&#x201C;<font style="font-weight: bold">Section 409A</font>&#x201D;) pursuant to
Treasury Regulations Section&#xA0;1.409A-1(b)(4) (the
&#x201C;<font style="font-weight: bold">short term deferral
exception</font>&#x201D;), and the provisions of the PSU Agreement
and the Plan shall be construed and administered accordingly. For
greater certainty, for purposes of PSUs held by U.S. Designated
Participants, if the Board exercises discretion to waive all
applicable vesting conditions, including continued service and
performance conditions that otherwise would apply to PSUs such that
the PSUs are no longer subject to a substantial risk of forfeiture
(within the meaning of applicable United States tax laws and
regulations), the Redemption Date for such PSUs shall be the date
that the Board waives all such vesting conditions or deems them
satisfied.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">2.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">A U.S. Designated
Participant who has performed not less than ten (10) years of
continuous full time service to the Company or a related entity of
the Company and the U.S. Designated Participant is not less than 58
years old is referred to herein as &#x201C;<font style="font-weight: bold">Retirement Eligible U.S. Designated
Participant</font>&#x201D;. If, at any time prior to the end of the
Performance Period, PSUs of a Retirement Eligible U.S. Designated
Participant are not subject to, or are no longer subject to,
performance vesting conditions or other vesting conditions that
constitute a substantial risk of forfeiture (for greater clarity,
continued service vesting conditions of a Retirement Eligible U.S.
Designated Participant do not constitute a substantial risk of
forfeiture), then, notwithstanding section 8.3 of the Plan, the
Redemption Date shall be the date on which such PSUs are not, or
are no longer, subject to performance vesting conditions or other
vesting conditions that constitute a substantial risk of
forfeiture. .</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">3.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Any adjustments or
amendments to outstanding RSUs of U.S. Designated Participants
pursuant to Article 9, Article 12 or any other provision of the
Plan will be undertaken in a manner that will not result in adverse
tax consequences under Section 409A of the Code.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">4.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Although it is
intended that PSUs will be exempt from Code Section 409A under the
short-term deferral exception, if and to the extent that any PSU of
U.S. Designated Participants is subject to Section 409A, the
following provisions will apply:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(a)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Except as permitted
under Section 409A, any deferred compensation (within the meaning
of Section 409A) payable to or for the benefit of a U.S.
Participant may not be reduced by, or offset against, any amount
owing by the U.S. Participant to the Company or any of its
Affiliates.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(b)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">If a U.S.
Designated Participant becomes entitled to receive payment in
respect of any PSUs as a result of his or her termination of
employment, termination or similar language shall mean
&#x201C;separation from service&#x201D; (within the meaning of
Section 409A), and if the U.S. Designated Participant is a
&#x201C;specified employee&#x201D; (within the meaning of Section
409A) at the time of his or her separation from service, any such
payment that would otherwise be payable during the six-month period
following such separation from service will be delayed until the
first day of the seventh month following such separation from
service to the extent required to avoid adverse taxation or
penalties under Section 409A. If a U.S Designated Participant
becomes entitled to payment in respect of any PSUs as a result of a
change in control, such payment will occur if and when such change
in control constitutes a change in ownership or effective control
of the Company, or in the ownership of a substantial portion of the
assets of the Company (within the meaning of Section
409A).</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">(c)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Although the
Company intends that PSUs will be exempt from Section 409A, or will
comply with Section 409A, the Company makes no assurances that the
Restricted Share Units will be exempt from Section 409A or will
comply with it. Each U.S. Designated Participant, any beneficiary
or the U.S. Designated Participant&#x2019;s estate, as the case may
be, is solely responsible and liable for the satisfaction of all
taxes and penalties that may be imposed on or for the account of
such U.S. Designated Participant in connection with this Plan
(including any taxes and penalties under Section 409A), and neither
the Company, nor any affiliate nor the employees of either shall
have any obligation to indemnify or otherwise hold such U.S.
Designated Participant or beneficiary or the U.S. Designated
Participant&#x2019;s estate harmless from any or all of such taxes
or penalties.</font></div>
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