<SEC-DOCUMENT>0001171843-20-003835.txt : 20200519
<SEC-HEADER>0001171843-20-003835.hdr.sgml : 20200519
<ACCEPTANCE-DATETIME>20200519122921
ACCESSION NUMBER:		0001171843-20-003835
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200109
FILED AS OF DATE:		20200519
DATE AS OF CHANGE:		20200519

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Caledonia Mining Corp Plc
		CENTRAL INDEX KEY:			0000766011
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38164
		FILM NUMBER:		20892700

	BUSINESS ADDRESS:	
		STREET 1:		B006 MILLAIS HOUSE
		STREET 2:		CASTLE QUAY
		CITY:			ST HELIER
		STATE:			Y9
		ZIP:			JE2 3NF
		BUSINESS PHONE:		441534679800

	MAIL ADDRESS:	
		STREET 1:		B006 MILLAIS HOUSE
		STREET 2:		CASTLE QUAY
		CITY:			ST HELIER
		STATE:			Y9
		ZIP:			JE2 3NF

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CALEDONIA MINING CORP
		DATE OF NAME CHANGE:	19950606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GOLDEN NORTH RESOURCE CORP
		DATE OF NAME CHANGE:	19920302
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>f6k_051920.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>UNITED STATES</B></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">SECURITIES AND EXCHANGE
COMMISSION</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Washington, DC 20549</P>

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>FORM 6-K</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Report of Foreign Private
Issuer</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Pursuant to Rule 13a-16
or 15d-16</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Of the Securities Exchange
Act of 1934</P>

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">For the month of
January 2020</p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Commission File Number:
001-38164</P>

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 12pt">&#160;</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 12pt">CALEDONIA
MINING CORPORATION PLC</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(Translation of registrant's name into English)</P>

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: -9pt; margin: 0pt 0"><FONT STYLE="text-transform: none"><B>B006 Millais House<BR>
Castle Quay<BR>
St Helier<BR>
Jersey JE2 3EF</B></FONT></P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>



<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(Address of principal executive offices)</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Indicate by check mark whether the registrant
files or will file annual reports under cover Form 20-F or Form 40-F</P>

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Form 20-F&#160;<FONT STYLE="font-size: 10pt"><U>&#160;&#160;
&#160; X&#160;&#160; &#160;&#160;</U>&#160;&#160;</FONT>Form 40-F ______</P>

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">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): ______</P>

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">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): ______</P>

<P STYLE="font-size: 10pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&#160;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 400 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px"><B>INCORPORATION
BY REFERENCE</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 400 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px">&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 400 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px">Exhibit
99.1 included with this report on Form 6-K is expressly incorporated by reference into this report and is hereby incorporated
by reference as an exhibit to the Registration Statement on Form F-3 of Caledonia Mining Corporation Plc (File No.
333-224784), as amended or supplemented.</P>


<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>Signatures</B></P>

<P STYLE="font-size: 10pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; margin-bottom: 0pt; margin-top: 0pt">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.</P>

<P STYLE="font-size: 10pt; text-align: left; margin-bottom: 0pt; margin-top: 0pt"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin-bottom: 0pt; margin-top: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: middle"><P STYLE="margin-top: 0pt; margin-bottom: 0pt"><B>CALEDONIA MINING CORPORATION
                                         PLC</B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: middle">(Registrant)</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: left; width: 51%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; width: 5%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 18%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Steve Curtis</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Dated: May 19, 2020</TD>
    <TD STYLE="vertical-align: middle">
        <P STYLE="margin-top: 0pt; margin-bottom: 0pt">Name: </P>
        <P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P></TD>
    <TD>Steve Curtis</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">Title: </TD>
    <TD>CEO and Director</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin-bottom: 0pt; margin-top: 0pt">&#160;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin-bottom: 0pt; margin-top: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin-bottom: 0pt; margin-top: 0pt"></P>

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<p style="font-size: 10pt; text-align: center; margin-bottom: 0pt; margin-top: 0pt"><B>Exhibit Index</B></p>

<p style="font-size: 10pt; text-align: justify; margin-bottom: 0pt; margin-top: 0pt">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; margin-bottom: 0pt; margin-top: 0pt">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; margin-bottom: 0pt; margin-top: 0pt">&nbsp;</P>

<P STYLE="text-align: left; margin-bottom: 0pt; margin-top: 0pt"></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <td style="width: 6%"><B>Exhibit</B></TD>
    <td style="width: 94%"><B>Description</B></TD></TR>
<TR>
    <td>&nbsp;</TD>
    <td>&nbsp;</TD></TR>
<TR>
    <td><A HREF="exh_991.htm">99.1</A></TD>
    <td><A HREF="exh_991.htm">Securityholders document</A></TD></TR>
</table>

<P STYLE="font-size: 10pt; margin-top: 0pt; text-align: center; margin-right: 12.1pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; margin-bottom: 0pt; margin-top: 0pt">&nbsp;</P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="margin: 0"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>CALEDONIA
MINING CORPORATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>2015 OMNIBUS
EQUITY INCENTIVE COMPENSATION PLAN</B></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(as amended by the Compensation Committee
on 9 January 2020)</P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Table of
Contents</P>

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

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

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

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

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



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 90%; text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 1 ESTABLISHMENT, PURPOSE AND DURATION</TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 12pt; padding-bottom: 12pt">1</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">1.1&nbsp;&nbsp;&nbsp;<U>Establishment of the Plan</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">1</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">1.2&nbsp;&nbsp;&nbsp;<U>Purpose of the Plan</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">1</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">1.3&nbsp;&nbsp;&nbsp;<U>Duration of the Plan</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">1</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">1.4&nbsp;&nbsp;&nbsp;<U>Successor Plan</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">1</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 2 DEFINITIONS</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">1</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 3 ADMINISTRATION</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">8</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">3.1&nbsp;&nbsp;&nbsp;<U>General</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">8</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">3.2&nbsp;&nbsp;&nbsp;<U>Authority of the Committee</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">8</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">3.3&nbsp;&nbsp;&nbsp;<U>Delegation</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">9</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 4 SHARES SUBJECT TO THE PLAN AND MAXIMUM AWARDS</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">9</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">4.1&nbsp;&nbsp;&nbsp;<U>Number of Shares Available for Awards</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">9</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">4.2&nbsp;&nbsp;&nbsp;<U>Adjustments in Authorized Shares</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">9</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 5 ELIGIBILITY AND PARTICIPATION</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">10</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">5.1&nbsp;&nbsp;&nbsp;<U>Eligibility</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">10</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">5.2&nbsp;&nbsp;&nbsp;<U>Actual Participation</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">10</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 6 STOCK OPTIONS</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">10</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">6.1&nbsp;&nbsp;&nbsp;<U>Grant of Options</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">10</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">6.2&nbsp;&nbsp;&nbsp;<U>Award Agreement</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">11</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">6.3&nbsp;&nbsp;&nbsp;<U>Option Price</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">11</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">6.4&nbsp;&nbsp;&nbsp;<U>Duration of Options</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">11</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">6.5&nbsp;&nbsp;&nbsp;<U>Exercise of Options</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">11</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">6.6&nbsp;&nbsp;&nbsp;<U>Payment</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">11</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">6.7&nbsp;&nbsp;&nbsp;<U>Restrictions on Share Transferability</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">12</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">6.8&nbsp;&nbsp;&nbsp;<U>Death, Retirement and Termination of Employment</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">12</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">6.9&nbsp;&nbsp;&nbsp;<U>Nontransferability of Options</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">13</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 7 SHARE APPRECIATION RIGHTS</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">14</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">7.1&nbsp;&nbsp;&nbsp;<U>Grant of SARs</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">14</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">7.2&nbsp;&nbsp;&nbsp;<U>SAR Agreement</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">14</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">7.3&nbsp;&nbsp;&nbsp;<U>Term of SAR</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">14</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt; width: 90%">7.4&nbsp;&nbsp;&nbsp;<U>Exercise of Freestanding SARs</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt; width: 10%">14</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">7.5&nbsp;&nbsp;&nbsp;<U>Exercise of Tandem SARs</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">14</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">7.6&nbsp;&nbsp;&nbsp;<U>Payment of SAR Amount</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">14</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">7.7&nbsp;&nbsp;&nbsp;<U>Termination of Employment</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">15</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">7.8&nbsp;&nbsp;&nbsp;<U>Nontransferability of SARs</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">15</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">7.9&nbsp;&nbsp;&nbsp;<U>Other Restrictions</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">15</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 8 RESTRICTED SHARE AND RESTRICTED SHARE UNITS</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">15</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">8.1&nbsp;&nbsp;&nbsp;<U>Grant of Restricted Shares or Restricted Share Units</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">15</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">8.2&nbsp;&nbsp;&nbsp;<U>Restricted Share or Restricted Share Unit Agreement</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">15</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">8.3&nbsp;&nbsp;&nbsp;<U>Nontransferability of Restricted Share and Restricted Share Units</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">16</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">8.4&nbsp;&nbsp;&nbsp;<U>Other Restrictions</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">16</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">8.5&nbsp;&nbsp;&nbsp;<U>Certificate Legend</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">16</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">8.6&nbsp;&nbsp;&nbsp;<U>Voting Rights</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">16</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">8.7&nbsp;&nbsp;&nbsp;<U>Dividends and Other Distributions</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">17</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">8.8&nbsp;&nbsp;&nbsp;<U>Death, Retirement and other Termination of Employment</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">17</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">8.9&nbsp;&nbsp;&nbsp;<U>Payment in Settlement of Restricted Share Units</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">19</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 9 DEFERRED SHARES UNITS</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">20</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">9.1&nbsp;&nbsp;&nbsp;<U>Grant of Deferred Share Units</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">20</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">9.2&nbsp;&nbsp;&nbsp;<U>Deferred Share Unit Agreement</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">20</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">9.3&nbsp;&nbsp;&nbsp;<U>Nontransferability of Deferred Share Units</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">20</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">9.4&nbsp;&nbsp;&nbsp;<U>Termination of Employment</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">20</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 10 PERFORMANCE SHARES AND PERFORMANCE UNITS</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">20</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">10.1&nbsp;&nbsp;&nbsp;<U>Grant of Performance Shares and Performance Units</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">20</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">10.2&nbsp;&nbsp;&nbsp;<U>Value of Performance Shares and Performance Units</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">20</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">10.3&nbsp;&nbsp;&nbsp;<U>Earning of Performance Shares and Performance Units</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">21</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">10.4&nbsp;&nbsp;&nbsp;<U>Form and Timing of Payment of Performance Shares and Performance Units</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">21</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">10.5&nbsp;&nbsp;&nbsp;<U>Dividends and Other Distributions</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">21</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">10.6&nbsp;&nbsp;&nbsp;<U>Death and other Termination of Employment</U>.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">21</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">10.7&nbsp;&nbsp;&nbsp;<U>Nontransferability of Performance Shares and Performance Units</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">24</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 11 FULL VALUE SHARE-BASED AWARDS</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">24</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">11.1&nbsp;&nbsp;&nbsp;<U>Share-Based Awards</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">24</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">11.2&nbsp;&nbsp;&nbsp;<U>Termination of Employment</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">24</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">11.3&nbsp;&nbsp;&nbsp;<U>Nontransferability of Share-Based Awards</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">24</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 12 BENEFICIARY DESIGNATION</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">25</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">12.1&nbsp;&nbsp;&nbsp;<U>Beneficiary</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">25</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">12.2&nbsp;&nbsp;&nbsp;<U>Discretion of the Committee</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">25</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 0pt; padding-bottom: 12pt; padding-left: 0in; width: 90%">Article 13 RIGHTS OF PERSONS ELIGIBLE TO PARTICIPATE</TD>
    <TD STYLE="text-align: right; padding-top: 0pt; padding-bottom: 12pt; width: 10%">25</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">13.1&nbsp;&nbsp;&nbsp;<U>Employment</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">25</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">13.2&nbsp;&nbsp;&nbsp;<U>Participation</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">25</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">13.3&nbsp;&nbsp;&nbsp;<U>Rights as a Shareholder</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">26</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 14 CHANGE OF CONTROL</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">26</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">14.1&nbsp;&nbsp;&nbsp;<U>Accelerated Vesting and Payment</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">26</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">14.2&nbsp;&nbsp;&nbsp;<U>Alternative Awards</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">26</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 15 AMENDMENT, MODIFICATION, SUSPENSION AND TERMINATION</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">26</TD></TR>
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    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">15.1&nbsp;&nbsp;&nbsp;<U>Amendment, Modification, Suspension and Termination</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">26</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">15.2&nbsp;&nbsp;&nbsp;<U>Adjustment of Awards Upon the Occurrence of Unusual or Nonrecurring Events</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">28</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">15.3&nbsp;&nbsp;&nbsp;<U>Awards Previously Granted</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">28</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 16 WITHHOLDING</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">28</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">16.1&nbsp;&nbsp;&nbsp;<U>Withholding</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">28</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">16.2&nbsp;&nbsp;&nbsp;<U>Acknowledgement</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">28</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 17 SUCCESSORS</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">28</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 18 GENERAL PROVISIONS</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">29</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">18.1&nbsp;&nbsp;&nbsp;<U>Forfeiture Events</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">29</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">18.2&nbsp;&nbsp;&nbsp;<U>Legend</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">29</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">18.3&nbsp;&nbsp;&nbsp;<U>Delivery of Title</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">29</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">18.4&nbsp;&nbsp;&nbsp;<U>Investment Representations</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">29</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">18.5&nbsp;&nbsp;&nbsp;<U>Uncertificated Shares</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">29</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">18.6&nbsp;&nbsp;&nbsp;<U>Unfunded Plan</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">30</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">18.7&nbsp;&nbsp;&nbsp;<U>No Fractional Shares</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">30</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">18.8&nbsp;&nbsp;&nbsp;<U>Other Compensation and Benefit Plans</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">30</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">18.9&nbsp;&nbsp;&nbsp;<U>No Constraint on Corporate Action</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">30</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">18.10&nbsp;&nbsp;&nbsp;<U>Compliance with Canadian Securities Laws</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">30</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 12pt; padding-bottom: 12pt; padding-left: 0in">Article 19 LEGAL CONSTRUCTION</TD>
    <TD STYLE="text-align: right; padding-top: 12pt; padding-bottom: 12pt">30</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">19.1&nbsp;&nbsp;&nbsp;<U>Gender and Number</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">30</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">19.2&nbsp;&nbsp;&nbsp;<U>Severability</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">30</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">19.3&nbsp;&nbsp;&nbsp;<U>Requirements of Law</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">31</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">19.4&nbsp;&nbsp;&nbsp;<U>Governing Law</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">31</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 12.25pt">19.5&nbsp;&nbsp;&nbsp;<U>Compliance with Section 409A of the Code</U></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">31</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">CALEDONIA
MINING CORPORATION</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">2015 OMNIBUS
EQUITY INCENTIVE COMPENSATION PLAN</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
1</FONT><BR>
ESTABLISHMENT, PURPOSE AND DURATION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">1.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Establishment of the Plan</U>. Caledonia Mining Corporation, a Canadian federal corporation (the &ldquo;<B>Company</B>&rdquo;),
hereby establishes an incentive compensation plan to be known as the 2015 Omnibus Equity Incentive Compensation Plan (the &ldquo;<B>Plan</B>&rdquo;).
The Plan permits the grant of Stock Options, Share Appreciation Rights, Restricted Shares, Restricted Share Units, Deferred Stock
Units, Performance Shares, Performance Units and Share-Based Awards. The Plan shall be adopted and become effective on the date
approved by the Board (the &ldquo;<B>Effective Date</B>&rdquo;), provided that no Awards may be exercised, paid or settled until
the Plan has been approved by the shareholders of the Company and the Toronto Stock Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">1.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Purpose of the Plan</U>. The purposes of the Plan are: (i)&nbsp;to promote a significant alignment between officers
and employees of the Company and its Affiliates (as defined below) and the growth objectives of the Company; (ii)&nbsp;to associate
a portion of participating employees&rsquo; compensation with the performance of the Company over the long term; and (iii)&nbsp;to
attract, motivate and retain the critical employees to drive the business success of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">1.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Duration of the Plan</U>. The Plan shall commence as of the Effective Date, as described in Section&nbsp;1.1 herein,
and shall remain in effect until terminated by the Board (as defined below) pursuant to Article 15 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">1.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Successor Plan</U>. This Plan shall in respect of Options (as defined below) serve as the successor to the Company&rsquo;s
current Incentive Stock Option Plan dated April 10, 2007 (the &ldquo;<B>Predecessor Plan</B>&rdquo;), and no further awards shall
be made under the Predecessor Plan from and after the Effective Date of this Plan. Each Option granted under the Predecessor Plan
shall continue to be governed solely by the terms and conditions of the instrument evidencing such grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
2</FONT><BR>
DEFINITIONS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Whenever used in the
Plan, the following terms shall have the respective meanings set forth below, unless the context clearly requires otherwise, and
when such meaning is intended, such term shall be capitalized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Affiliate</B>&rdquo; means any
corporation, partnership or other entity (i)&nbsp;in which the Company, directly or indirectly, has majority ownership interest
or (ii)&nbsp;which the Company controls. For the purposes of this definition, the Company is deemed to &ldquo;<B>control</B>&rdquo;
such corporation, partnership or other entity if the Company possesses, directly or indirectly, the power to direct or cause the
direction of the management and policies of such corporation, partnership or other entity, whether through the ownership of voting
securities, by contract or otherwise, and includes a corporation which is considered to be a subsidiary for purposes of consolidation
under International Financial Reporting Standards.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Award</B>&rdquo; means, individually
or collectively, a grant under this Plan of Options, SARs, Restricted Shares, Restricted Share Units, Performance Shares, Performance
Units or Share&#45;Based Awards, in each case subject to the terms of this Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Award Agreement</B>&rdquo; means
either (i)&nbsp;a written agreement entered into by the Company or an Affiliate of the Company and a Participant setting forth
the terms and provisions applicable to Awards granted under this Plan; or (ii)&nbsp;a written statement issued by the Company or
an Affiliate of the Company to a Participant describing the terms and provisions of such Award. All Award Agreements shall be deemed
to incorporate the provisions of the Plan. An Award Agreement need not be identical to other Award Agreements either in form or
substance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Beneficial Ownership</B>&rdquo;
shall have the meaning ascribed to such term in Section&nbsp;90 of the OSA.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Blackout Period</B>&rdquo; means
a period of time during which the Participant cannot sell Shares, due to applicable law or policies of the Company in respect of
insider trading.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Board</B>&rdquo; or &ldquo;<B>Board
of Directors</B>&rdquo; means the Board of Directors of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Cause</B>&rdquo; means any of:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(a)</FONT></TD><TD STYLE="text-align: justify">dishonesty of the Participant as it relates to the performance of his duties in the course of his
employment by, or as an officer or director of, the Company or an Affiliate;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(b)</FONT></TD><TD STYLE="text-align: justify">fraud committed by the Participant;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(c)</FONT></TD><TD STYLE="text-align: justify">willful disclosure of confidential or private information regarding the Company or an Affiliate
by the Participant;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(d)</FONT></TD><TD STYLE="text-align: justify">the Participant aiding a competitor of the Company or an Affiliate;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(e)</FONT></TD><TD STYLE="text-align: justify">misappropriation of a business opportunity of the Company or an Affiliate by the Participant;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(f)</FONT></TD><TD STYLE="text-align: justify">willful misconduct or gross negligence in the performance of the Participant&rsquo;s duties under
his or her employment agreement;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(g)</FONT></TD><TD STYLE="text-align: justify">a breach by the Participant of a material provision of his or her employment agreement or the Code
of Business Conduct and Ethics adopted by the Company from time to time;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(h)</FONT></TD><TD STYLE="text-align: justify">the willful and continued failure on the part of the Participant to substantially perform duties
in the course of his employment by, or as an officer of, the Company or an Affiliate, unless such failure results from an incapacity
due to mental or physical illness;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">willfully engaging in conduct that is demonstrably and materially injurious to the Company or an
Affiliate, monetarily or otherwise; or</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(j)</FONT></TD><TD STYLE="text-align: justify">any other act or omission by the Participant which would amount to just cause for termination at
common law.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Change of Control</B>&rdquo;
shall occur if any of the following events occur:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(a)</FONT></TD><TD STYLE="text-align: justify">the acquisition, directly or indirectly and by any means whatsoever, by any person, or by a group
of persons acting jointly or in concert, of beneficial ownership or control or direction over that number of Voting Securities
which is greater than 50% of the total issued and outstanding Voting Securities immediately after such acquisition, unless such
acquisition arose as a result of or pursuant to:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">an acquisition or redemption by the Company of Voting Securities which, by reducing the number
of Voting Securities outstanding, increases the proportionate number of Voting Securities beneficially owned by such person to
50% or more of the Voting Securities then outstanding;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">acquisitions of Voting Securities which were made pursuant to a dividend reinvestment plan of the
Company;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">the receipt or exercise of rights issued by the Company to all the holders of Voting Securities
to subscribe for or purchase Voting Securities or securities convertible into Voting Securities, provided that such rights are
acquired directly from the Company and not from any other person;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iv)</FONT></TD><TD STYLE="text-align: justify">a distribution by the Company of Voting Securities or securities convertible into Voting Securities
for cash consideration made pursuant to a public offering or by way of a private placement by the Company (&quot;<B>Exempt Acquisitions</B>&quot;);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(v)</FONT></TD><TD STYLE="text-align: justify">a stock-dividend, a stock split or other event pursuant to which such person receives or acquires
Voting Securities or securities convertible into Voting Securities on the same <I>pro rata</I> basis as all other holders of securities
of the same class (&quot;<B>Pro-Rata Acquisitions</B>&quot;); or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(vi)</FONT></TD><TD STYLE="text-align: justify">the exercise of securities convertible into Voting Securities received by such person pursuant
to an Exempt Acquisition or a Pro-Rata Acquisition (&quot;<B>Convertible Security Acquisitions</B>&quot;);</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 81pt; text-align: justify; text-indent: 0in">provided, however,
that if a person shall acquire 50% or more of the total issued and outstanding Voting Securities by reason of any one or a combination
of (1)&nbsp;acquisitions or redemptions of Voting Shares by the Company, (2)&nbsp;Exempt Acquisitions, (3)&nbsp;Pro-Rata Acquisitions,
or (4)&nbsp;Convertible Security Acquisitions and, after such share acquisitions or redemptions by the Company or Exempt Acquisitions
or Pro-Rata Acquisitions or Convertible Security Acquisitions, acquires additional Voting Securities exceeding one per cent of
the Voting Securities outstanding at the date of such acquisition other than pursuant to any one or a combination of Exempt Acquisitions,
Convertible Security Acquisitions or Pro-Rata Acquisitions, then as of the date of such acquisitions such acquisition shall be
deemed to be a &quot;<B>Change of Control</B>&quot;;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 81pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 81pt; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 81pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(b)</FONT></TD><TD STYLE="text-align: justify">the replacement by way of election or appointment at any time of one-half or more of the total
number of the then incumbent members of the Board of Directors, unless such election or appointment is approved by 50% or more
of the Board of Directors in office immediately preceding such election or appointment in circumstances where such election or
appointment is to be made other than as a result of a dissident public proxy solicitation, whether actual or threatened; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(c)</FONT></TD><TD STYLE="text-align: justify">any transaction or series of transactions, whether by way of reorganization, consolidation, amalgamation,
arrangement, merger, transfer, sale or otherwise, whereby all or substantially all of the shares or assets of the Company become
the property of any other person (the &ldquo;<B>Successor Entity</B>&rdquo;), (other than a subsidiary of the Company) unless:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">individuals who were holders of Voting Securities immediately prior to such transaction hold, as
a result of such transaction, in the aggregate, more than 50% of the voting securities of the Successor Entity;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">a majority of the members of the board of directors of the Successor Entity is comprised of individuals
who were members of the Board of Directors immediately prior to such transaction; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">after such transaction, no person or group of persons acting jointly or in concert, holds more
than 50% of the voting securities of the Successor Entity unless such person or group of persons held securities of the Company
in the same proportion prior to such transaction.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Change of Control Price</B>&rdquo;
means (i)&nbsp;the highest price per Share offered in conjunction with any transaction resulting in a Change of Control (as determined
in good faith by the Committee if any part of the offered price is payable other than in cash), or (ii)&nbsp;in the case of a Change
of Control occurring solely by reason of a change in the composition of the Board, the highest Fair Market Value of the Shares
on any of the thirty&nbsp;(30) trading days immediately preceding the date on which a Change of Control occurs, except if the relevant
participant is subject to taxation under the ITA such Change of Control price shall be deemed to be a price determined by the Committee
based on the closing price of a Share on the TSX on the trading day preceding the Change of Control date or based on the volume
weighted average trading price of the Shares on the TSX for the five trading days immediately preceding the Change of Control date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Code</B>&rdquo; means the U.S.
Internal Revenue Code of 1986, as amended from time to time, or any successor thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Committee</B>&rdquo; means the
Board of Directors or if so delegated in whole or in part by the Board, the Compensation Committee of the Board of Directors, or
any other duly authorized committee of the Board appointed by the Board to administer the Plan or.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Company</B>&rdquo; means Caledonia
Mining Corporation, a Canadian federal corporation, and any successor thereto as provided in Article 17 herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Consultant</B>&rdquo; means a
Person that:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">is engaged to provide services to the Company or an Affiliate other than services provided in relation
to a distribution of securities of the Company or an Affiliate;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">provides the services under a written contract with the Company or an Affiliate; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">spends or will spend a significant amount of time and attention on the affairs and business of
the Company or an Affiliate;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">provided that with respect to
Consultants who are U.S. Persons, such Consultants shall be granted Awards under this Plan only if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">they are natural persons;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">they provide bona fide services to the Company or its majority-owned subsidiaries; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">such services are not in connection with the offer or sale of securities in a capital-raising transaction,
and do not directly or indirectly promote or maintain a market for the Company&rsquo;s securities.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Deferred Share Unit</B>&rdquo;
means an Award denominated in units that provides the holder thereof with a right to receive Shares or cash or a combination thereof
upon settlement of the Award, granted under Article 9 herein and subject to the terms of this Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Director</B>&rdquo; means any
individual who is a member of the Board of Directors of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Disability</B>&rdquo; means the
Participant&rsquo;s inability to substantially fulfil his or her duties on behalf of the Company or an Affiliate for a continuous
period of six&nbsp;(6) months or more or the Participant&rsquo;s inability to substantially fulfil his or her duties on behalf
of the Company or an Affiliate for an aggregate period of six&nbsp;(6) months or more during any consecutive twelve&nbsp;(12) month
period; and if there is any disagreement between the Company or an Affiliate and the Participant as to the Participant&rsquo;s
Disability or as to the date any such Disability began or ended, the same shall be determined by a physician mutually acceptable
to the Company and the Participant whose determination shall be conclusive evidence of any such Disability and of the date any
such Disability began or ended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Dividend Equivalent</B>&rdquo;
means a right with respect to an Award to receive cash, Shares or other property equal in value and form to dividends declared
by the Board and paid with respect to outstanding Shares. Dividend Equivalents shall not apply to an Award unless specifically
provided for in the Award Agreement, and if specifically provided for in the Award Agreement shall be subject to such terms and
conditions set forth in the Award Agreement as the Committee shall determine.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Employee</B>&rdquo; means any
employee of the Company or an Affiliate. Directors who are not otherwise employed by the Company or an Affiliate shall not be considered
Employees under this Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Fair Market Value</B>&rdquo;
or &ldquo;<B>FMV</B>&rdquo; means, unless otherwise required by any applicable provision of the Code or any regulations thereunder
or by any applicable accounting standard for the Company&rsquo;s desired accounting for Awards or by the rules of the TSX, a price
that is determined by the Committee, provided that such price cannot be less than the greater of (i)&nbsp;the volume weighted average
trading price of the Shares for the five trading days immediately prior to the grant date or (ii)&nbsp;the closing price of the
Shares on the trading day immediately prior to the grant date in each case as quoted on either the TSX, NYSE American or AIM as
specified in the applicable Award Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Fiscal Year</B>&rdquo; means
the Company&rsquo;s fiscal year commencing on January 1 and ending on December 31 or such other fiscal year as approved by the
Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Freestanding SAR</B>&rdquo; means
a SAR that is not a Tandem SAR, as described in Article 7 herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Grant Price</B>&rdquo; means
the price against which the amount payable is determined upon exercise of a SAR.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Insider</B>&rdquo; shall have
the meaning ascribed thereto in Section 1(1) of the OSA.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>ITA</B>&rdquo; means the <I>Income
Tax Act</I> (Canada).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Non-Employee Director</B>&rdquo;
means a Director who is not an Employee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Notice Period</B>&rdquo; means
any period of contractual notice or reasonable notice that the Company or the Affiliate may be required at law, by contract or
otherwise agrees to provide to a Participant upon termination of employment, whether or not the Company or Affiliate elects to
pay severance <I>in lieu</I> of providing notice to the Participant, provided that where a Participant&rsquo;s employment contract
provides for an increased severance or termination payment in the event of termination following a Change of Control, the Notice
Period for the purposes of the Plan shall be the Notice Period under such contract applicable to a termination which does not follow
a Change of Control.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Option</B>&rdquo; means the conditional
right to purchase Shares at a stated Option Price for a specified period of time subject to the terms of this Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Option Price</B>&rdquo; means
the price at which a Share may be purchased by a Participant pursuant to an Option, as determined by the Committee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>OSA</B>&rdquo; means the <I>Securities
Act</I> (Ontario), as may be amended from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Participant</B>&rdquo; means
an Employee, Non-Employee Director or Consultant who has been selected to receive an Award, or who has an outstanding Award granted
under the Plan.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Performance-Based Compensation</B>&rdquo;
means compensation under an Award that is granted in order to provide remuneration solely on account of the attainment of one or
more Performance Goals under circumstances that satisfy the requirements of Section&nbsp;162(m) of the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Performance Goal</B>&rdquo; means
a performance criterion selected by the Committee for a given Award.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Performance Period</B>&rdquo;
means the period of time during which the assigned performance criteria must be met in order to determine the degree of payout
and/or vesting with respect to an Award.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Performance Share</B>&rdquo;
means an Award granted under Article 10 herein and subject to the terms of this Plan, denominated in Shares, the value of which
at the time it is payable is determined as a function of the extent to which corresponding performance criteria have been achieved.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Performance Unit</B>&rdquo; means
an Award granted under Article 10 herein and subject to the terms of this Plan, denominated in units, the value of which at the
time it is payable is determined as a function of the extent to which corresponding performance criteria have been achieved.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Period of Restriction</B>&rdquo;
means the period when an Award of Restricted Share or Restricted Share Units is subject to forfeiture based on the passage of time,
the achievement of performance criteria, and/or upon the occurrence of other events as determined by the Committee, in its discretion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Person</B>&rdquo; shall have
the meaning ascribed to such term in Section 1(1) of the OSA.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Restricted Share</B>&rdquo; means
an Award of Shares subject to a Period of Restriction, granted under Article 8 herein and subject to the terms of this Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Restricted Share Unit</B>&rdquo;
means an Award denominated in units subject to a Period of Restriction, with a right to receive Shares or cash or a combination
thereof upon settlement of the Award, granted under Article 8 herein and subject to the terms of this Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Retirement</B>&rdquo; or &ldquo;<B>Retire</B>&rdquo;
means a Participant&rsquo;s permanent withdrawal from employment or office with the Company or Affiliate on terms and conditions
accepted and determined by the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Shares</B>&rdquo; means common
shares of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Share Appreciation Right</B>&rdquo;
or &ldquo;<B>SAR</B>&rdquo; means the conditional right to receive the difference between the FMV of a Share on the date of exercise
over the Grant Price, pursuant to the terms of Article 7 herein and subject to the terms of this Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Share-Based Award</B>&rdquo;
means an equity-based or equity-related Award granted under Article 11 herein and subject to the terms of this Plan, and not otherwise
described by the terms of this Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Successor Entity</B>&rdquo; has
the meaning ascribed thereto under subsection&nbsp;(c) of the definition of Change of Control.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Tandem SAR</B>&rdquo; means a
SAR that the Committee specifies is granted in connection with a related Option pursuant to Article 7 herein and subject to the
terms of this Plan, the exercise of which shall require forfeiture of the right to purchase a Share under the related Option (and
when a Share is purchased under the Option, the Tandem SAR shall similarly be cancelled) or a SAR that is granted in tandem with
an Option but the exercise of such Option does not cancel the SAR, but rather results in the exercise of the related SAR. Regardless
of whether an Option is granted coincident with a SAR, a SAR is not a Tandem SAR unless so specified by the Committee at the time
of grant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Total Share Authorization</B>&rdquo;
has the meaning ascribed thereto under Section&nbsp;4.1.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>TSX</B>&rdquo; means the Toronto
Stock Exchange and at any time the Shares are not listed and posted for trading on the TSX, shall be deemed to mean such other
stock exchange or trading platform upon which the Shares trade and which has been designated by the Committee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Voting Power</B>&rdquo; shall
mean such number of Voting Securities as shall enable the holders thereof to cast all the votes which could be cast in an annual
election of directors of a company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Voting Securities</B>&rdquo;
shall mean any securities of the Company ordinarily carrying the right to vote at elections of directors and any securities immediately
convertible into or exchangeable for such securities.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
3</FONT><BR>
ADMINISTRATION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">3.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>General</U>. The Committee shall be responsible for administering the Plan. The Committee may employ attorneys,
consultants, accountants, agents and other individuals, any of whom may be an Employee, and the Committee, the Company, and its
officers and Directors shall be entitled to rely upon the advice, opinions or valuations of any such persons. All actions taken
and all interpretations and determinations made by the Committee shall be final, conclusive and binding upon the Participants,
the Company, and all other interested parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">3.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Authority of the Committee</U>. The Committee shall have full and exclusive discretionary power to interpret the
terms and the intent of the Plan and any Award Agreement or other agreement ancillary to or in connection with the Plan, to determine
eligibility for Awards, and to adopt such rules, regulations and guidelines for administering the Plan as the Committee may deem
necessary or proper. Such authority shall include, but not be limited to, selecting Award recipients, establishing all Award terms
and conditions, including grant, exercise price, issue price and vesting terms, determining Performance Goals applicable to Awards
and whether such Performance Goals have been achieved, and, subject to Article 15, adopting modifications and amendments, or subplans
to the Plan or any Award Agreement, including, without limitation, any that are necessary or appropriate to comply with the laws
or compensation practices of the jurisdictions in which the Company and Affiliates operate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">3.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Delegation</U>. The Committee may delegate to one or more of its members any of the Committee&rsquo;s administrative
duties or powers as it may deem advisable; provided, however, that any such delegation must be permitted under applicable corporate
law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
4</FONT><BR>
SHARES SUBJECT TO THE PLAN AND MAXIMUM AWARDS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">4.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Number of Shares Available for Awards</U>. Subject to adjustment as provided in Section&nbsp;4.2 herein, the number
of Shares hereby reserved for issuance to Participants under the Plan, together with Shares reserved for issue under any other
share compensation arrangements of the Company, shall not exceed the number which represents 10% of the issued and outstanding
Shares from time to time (the &ldquo;<B>Total Share Authorization</B>&rdquo;). Subject to applicable law, the requirements of the
TSX and any shareholder or other approval which may be required, the Board may in its discretion amend the Plan to increase such
limit without notice to any Participants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The number of Shares
reserved for issue to Insiders pursuant to this Plan, together with Shares reserved for issue to Insiders under any other share
compensation arrangements of the Company, shall not exceed 10% of the aggregate outstanding Shares of the Company. Within any one-year
period, the number of Shares issued to Insiders pursuant to this Plan and all other share compensation arrangements of the Company
shall not exceed 10% of the aggregate outstanding Shares of the Company. If the number of Shares shall be increased or decreased
as a result of a stock split, consolidation reclassification or recapitalization and not as a result of the issuance of Shares
for additional consideration or by way of a stock dividend in the ordinary course, the Company may make appropriate adjustments
to the maximum number of Shares which may be issued from the treasury of the Company under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Plan is an &ldquo;evergreen&rdquo;
plan whereby the number of Shares equivalent to the number of Awards and securities of any other share compensation arrangements
that have been issued, exercised, terminated, cancelled, redeemed, repurchased or expired, at any time, are immediately re-reserved
for issuance under the Plan and available for future issuances subject to the limits contained herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">4.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Adjustments in Authorized Shares</U>. In the event of any corporate event or transaction (collectively, a &ldquo;<B>Corporate
Reorganization</B>&rdquo;) (including, but not limited to, a change in the Shares of the Company or the capitalization of the Company)
such as a merger, arrangement, amalgamation, consolidation, reorganization, recapitalization, separation, stock dividend, extraordinary
dividend, stock split, reverse stock split, split up, spin-off or other distribution of stock or property of the Company, combination
of securities, exchange of securities, dividend in kind, or other like change in capital structure or distribution (other than
normal cash dividends) to shareholders of the Company, or any similar corporate event or transaction, the Committee shall make
or provide for such adjustments or substitutions, as applicable, in the number and kind of Shares that may be issued under the
Plan, the number and kind of Shares subject to outstanding Awards, the Option Price or Grant Price applicable to outstanding Awards,
the Total Share Authorization, the limit on issuing Awards other than Options granted with an Option Price equal to at least the
FMV of a Share on the date of grant or Share Appreciation Rights with a Grant Price equal to at least the FMV of a Share on the
date of grant, and any other value determinations applicable to outstanding Awards or to this Plan, as are equitably necessary
to prevent dilution or enlargement of Participants&rsquo; rights under the Plan that otherwise would result from such corporate
event or transaction. In connection with a Corporate Reorganization, the Committee shall have the discretion to permit a holder
of Options to purchase (at the times, for the consideration, and subject to the terms and conditions set out in this Plan) and
the holder will then accept on the exercise of such Option, <I>in lieu</I> of the Shares that such holder would otherwise have
been entitled to purchase, the kind and amount of shares or other securities or property that such holder would have been entitled
to receive as a result of the Corporate Reorganization if, on the effective date thereof, that holder had owned all Shares that
were subject to the Option. Such adjustments shall be made automatically, without the necessity of Committee action, on the customary
arithmetical basis in the case of any stock split, including a stock split effected by means of a stock dividend, and in the case
of any other dividend paid in Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Committee shall
also make appropriate adjustments in the terms of any Awards under the Plan as are equitably necessary to reflect such corporate
event or transaction and may modify any other terms of outstanding Awards, including modifications of performance criteria and
changes in the length of Performance Periods. The determination of the Committee as to the foregoing adjustments, if any, shall
be conclusive and binding on Participants under the Plan, provided that any such adjustments must comply with Section 409A of the
Code with respect to any U.S. Participants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to the provisions
of Article 13 and any applicable law or regulatory requirement, without affecting the number of Shares reserved or available hereunder,
the Committee may authorize the issuance, assumption, substitution or conversion of Awards under this Plan in connection with any
such corporate event or transaction, upon such terms and conditions as it may deem appropriate. Additionally, the Committee may
amend the Plan, or adopt supplements to the Plan, in such manner as it deems appropriate to provide for such issuance, assumption,
substitution or conversion as provided in the previous sentence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
5</FONT><BR>
ELIGIBILITY AND PARTICIPATION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">5.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Eligibility</U>. Individuals eligible to participate in the Plan include all Employees, Non-Employee Directors
and Consultants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">5.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Actual Participation</U>. Subject to the provisions of the Plan, the Committee may, from time to time, in its
sole discretion select from among eligible Employees, Non-Employee Directors and Consultants, those to whom Awards shall be granted
under the Plan, and shall determine in its discretion the nature, terms, conditions and amount of each Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
6</FONT><BR>
STOCK OPTIONS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">6.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Grant of Options</U>. Subject to the terms and provisions of the Plan, Options may be granted to Participants
in such number, and upon such terms, and at any time and from time to time as shall be determined by the Committee in its discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">6.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Award Agreement</U>. Each Option grant shall be evidenced by an Award Agreement that shall specify the Option
Price, the duration of the Option, the number of Shares to which the Option pertains, the conditions upon which an Option shall
become vested and exercisable, and any such other provisions as the Committee shall determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">6.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Option Price</U>. The Option Price for each grant of an Option under this Plan shall be determined by the Committee
and shall be specified in the Award Agreement. The Option Price for an Option shall be not less than the FMV of the Shares on the
date of grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">6.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Duration of Options</U>. Each Option granted to a Participant shall expire at such time as the Committee shall
determine at the time of grant; provided, however, that no Option shall be exercisable later than the tenth (10<SUP>th</SUP>) anniversary
date of its grant. Notwithstanding the foregoing, the expiry date of any Option shall be extended to the tenth business day following
the last day of a Blackout Period if the expiry date would otherwise occur in a Blackout Period or within five days of the end
of the Blackout Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">6.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Exercise of Options</U>. Options granted under this Article 6 shall be exercisable at such times and on the occurrence
of such events, and be subject to such restrictions and conditions, as the Committee shall in each instance approve, which need
not be the same for each grant or for each Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">6.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Payment</U>. Options granted under this Article 6 shall be exercised by the delivery of a notice of exercise to
the Company or an agent designated by the Company in a form specified or accepted by the Committee, or by complying with any alternative
procedures which may be authorized by the Committee, setting forth the number of Shares with respect to which the Option is to
be exercised, accompanied by full payment for the Shares (subject to the application of any cashless exercise procedures accepted
by the Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Option Price upon
exercise of any Option shall be payable to the Company in full either: (a)&nbsp;in cash, certified cheque or wire transfer; or
(b)&nbsp;by any other method approved or accepted by the Committee in its sole discretion subject to the rules of the TSX and such
rules and regulations as the Committee may establish. Such methods may include cashless exercise and settlement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to Section&nbsp;6.7
and any governing rules or regulations, as soon as practicable after receipt of a notification of exercise and full payment for
the Shares, the Shares in respect of which the Option has been exercised shall be issued as fully-paid and non-assessable shares
of the Company. As of the business day the Company receives such notice and such payment, the Participant (or the person claiming
through him, as the case may be) shall be entitled to be entered on the share register of the Company as the holder of the number
of Shares in respect of which the Option was exercised and to receive as promptly as possible thereafter a certificate or evidence
of book entry representing the said number of Shares. The Company shall cause to be delivered to or to the direction of the Participant
Share certificates or evidence of book entry Shares in an appropriate amount based upon the number of Shares purchased under the
Option(s), but in any event, on or before the 15th day of the third month of the year following the year in which the Option was
exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">6.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Restrictions on Share Transferability</U>. The Committee may impose such restrictions on any Shares acquired pursuant
to the exercise of an Option granted pursuant to this Plan as it may deem advisable, including, without limitation, requiring the
Participant to hold the Shares acquired pursuant to exercise for a specified period of time, or restrictions under applicable laws
or under the requirements of any stock exchange or market upon which such Shares are listed and/or traded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">6.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Death, Retirement and Termination of Employment</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(a)</FONT></TD><TD STYLE="text-align: justify">Death: If a Participant dies while an Employee, Director of, or Consultant to, the Company or an
Affiliate:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">the executor or administrator of the Participant&rsquo;s estate may exercise Options of the Participant
equal to the number of Options that were exercisable at the Termination Date (as defined at Section&nbsp;6.8(d) below);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">the right to exercise such Options terminates on the earlier of: (i)&nbsp;the date that is 12&nbsp;months
after the Termination Date; and (ii)&nbsp;the date on which the exercise period of the particular Option expires. Any Options held
by the Participant that are not yet vested at the Termination Date immediately expire and are cancelled and forfeited to the Company
on the Termination Date; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">such Participant&rsquo;s eligibility to receive further grants of Options under the Plan ceases
as of the Termination Date.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(b)</FONT></TD><TD STYLE="text-align: justify">Retirement: If a Participant voluntarily Retires then:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">any Options held by the Participant that are exercisable at the Termination Date continue to be
exercisable by the Participant until the earlier of: (i)&nbsp;the date that is six months after the Termination Date; and (ii)&nbsp;the
date on which the exercise period of the particular Option expires. Any Options held by the Participant that are not yet vested
at the Termination Date immediately expire and are cancelled and forfeited to the Company on the Termination Date,</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">the eligibility of a Participant to receive further grants under the Plan ceases as of the date
that the Company or an Affiliate, as the case may be, provides the Participant with written notification that the Participant&rsquo;s
employment or term of office or engagement, is terminated, notwithstanding that such date may be prior to the Termination Date,
and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">notwithstanding (b)(i) and (ii) above, unless the Committee, in its sole discretion, otherwise
determines, at any time and from time to time, Options are not affected by a change of employment arrangement within or among the
Company or an Affiliate for so long as the Participant continues to be an employee of the Company or an Affiliate.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(c)</FONT></TD><TD STYLE="text-align: justify">Termination of Employment: Where a Participant&rsquo;s employment or term of office or engagement
terminates (for any reason other than death or voluntary Retirement (whether such termination occurs with or without any or adequate
notice or reasonable notice, or with or without any or adequate compensation <I>in lieu</I> of such notice)), then:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">any Options held by the Participant that are exercisable at the Termination Date continue to be
exercisable by the Participant until the earlier of: (i)&nbsp;the date that is three months after the Termination Date; and (ii)&nbsp;the
date on which the exercise period of the particular Option expires. Any Options held by the Participant that are not yet vested
at the Termination Date immediately expire and are cancelled and forfeited to the Company on the Termination Date,</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">the eligibility of a Participant to receive further grants under the Plan ceases as of the date
that the Company or an Affiliate, as the case may be, provides the Participant with written notification that the Participant&rsquo;s
employment or term of office or engagement, is terminated, notwithstanding that such date may be prior to the Termination Date,
and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">notwithstanding (c)(i) and (ii) above, unless the Committee, in its sole discretion, otherwise
determines, at any time and from time to time, Options are not affected by a change of employment arrangement within or among the
Company or an Affiliate for so long as the Participant continues to be an employee of the Company or an Affiliate.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(d)</FONT></TD><TD STYLE="text-align: justify">For purposes of section&nbsp;6.8, the term, &ldquo;<B>Termination Date</B>&rdquo; means, in the
case of a Participant whose employment or term of office or engagement with the Company or an Affiliate terminates:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">by reason of the Participant&rsquo;s death, the date of death;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">for any reason whatsoever other than death, the date of the Participant&rsquo;s last day actively
at work for or actively engaged by the Company or the Affiliate, as the case may be; and for greater certainty &ldquo;Termination
Date&rdquo; in any such case specifically does not mean the date on which any period of contractual notice or reasonable notice
that the Company or the Affiliate, as the case may be, may be required at law to provide to a Participant would expire; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">the resignation of a director shall be considered to be a Retirement whereas the expiry of a director&rsquo;s
term on the Board without re-election (or nomination for election) shall be considered to be a termination of his or her term of
office.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">6.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Nontransferability of Options</U>. Except as otherwise provided in a Participant&rsquo;s Award Agreement at the
time of grant or thereafter by the Committee, an Option granted under this Article 6 may not be sold, transferred, pledged, assigned,
or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. Further, except as otherwise
provided in a Participant&rsquo;s Award Agreement at the time of grant or thereafter by the Committee, all Options granted to a
Participant under this Article 6 shall be exercisable during such Participant&rsquo;s lifetime only by such Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
7</FONT><BR>
SHARE APPRECIATION RIGHTS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">7.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Grant of SARs</U>. Subject to the terms and conditions of the Plan, SARs may be granted to Participants at any
time and from time to time and upon such terms as shall be determined by the Committee in its discretion. The Committee may grant
Freestanding SARs, Tandem SARs, or any combination of these forms of SARs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The SAR Grant Price
for each grant of a Freestanding SAR shall be determined by the Committee and shall be specified in the Award Agreement. The SAR
Grant Price may include a Grant Price based on one hundred percent (100%) of the FMV of the Shares on the date of grant, a Grant
Price that is set at a premium to the FMV of the Shares on the date of grant, or is indexed to the FMV of the Shares on the date
of grant, with the index determined by the Committee, in its discretion, provided that the Grant Price may never be less than the
FMV of the Shares on the date of Grant. The Grant Price of Tandem SARs shall be equal to the Option Price of the related Option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">7.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>SAR Agreement</U>. Each SAR Award shall be evidenced by an Award Agreement that shall specify the Grant Price,
the term of the SAR, and any such other provisions as the Committee shall determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">7.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Term of SAR</U>. The term of a SAR granted under the Plan shall be determined by the Committee, in its sole discretion,
and except as determined otherwise by the Committee and specified in the SAR Award Agreement, no SAR shall be exercisable later
than the tenth (10th) anniversary date of its grant. Notwithstanding the foregoing, the expiry date of any SAR shall be extended
to the tenth business day following the last day of a Blackout Period if the expiry date would otherwise occur in a Blackout Period
or within five days of the end of the Blackout Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">7.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Exercise of Freestanding SARs</U>. Freestanding SARs may be exercised upon whatever terms and conditions the Committee,
in its sole discretion, imposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">7.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Exercise of Tandem SARs</U>. With respect to Participants who are not subject to taxation under the ITA, Tandem
SARs may be exercised for all or part of the Shares subject to the related Option upon the surrender of the right to exercise the
equivalent portion of the related Option. With respect to Participants subject to taxation under the ITA, prior to exercising a
Tandem SAR the Participant must elect to receive the Tandem SAR in consideration for the disposition of that Participant&rsquo;s
right to receive shares under the Option. A Tandem SAR may be exercised only with respect to the Shares for which its related Option
is then exercisable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">7.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Payment of SAR Amount</U>. Upon the exercise of a SAR, a Participant shall be entitled to receive payment from
the Company in an amount representing the difference between the FMV of the underlying Shares on the date of exercise over the
Grant Price. At the discretion of the Committee, the payment upon SAR exercise may be in cash, Shares of equivalent value (based
on the FMV on the date of exercise of the SAR, as defined in the Award Agreement or otherwise defined by the Committee thereafter),
in some combination thereof, or in any other form approved by the Committee at its sole discretion. Payment shall be made no earlier
than the date of exercise nor later than 2&frac12;&nbsp;months after the close of the year in which the SAR is exercised. The Committee&rsquo;s
determination regarding the form of SAR payout shall be set forth or reserved for later determination in the Award Agreement for
the grant of the SAR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">7.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Termination of Employment</U>. Each Award Agreement shall set forth the extent to which the Participant shall
have the right to exercise the SAR following termination of the Participant&rsquo;s employment or other relationship with the Company
or Affiliates. Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all SARs
issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">7.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Nontransferability of SARs</U>. Except as otherwise provided in a Participant&rsquo;s Award Agreement at the time
of grant or thereafter by the Committee, a SAR granted under the Plan may not be sold, transferred, pledged, assigned or otherwise
alienated or hypothecated, other than by will or by the laws of descent and distribution. Further, except as otherwise provided
in a Participant&rsquo;s Award Agreement at the time of grant or thereafter by the Committee, all SARs granted to a Participant
under the Plan shall be exercisable during such Participant&rsquo;s lifetime only by such Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">7.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Other Restrictions</U>. Without limiting the generality of any other provision of this Plan, the Committee may
impose such other conditions and/or restrictions on any Shares received upon exercise of a SAR granted pursuant to the Plan as
it may deem advisable. This includes, but is not limited to, requiring the Participant to hold the Shares received upon exercise
of a SAR for a specified period of time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
8</FONT><BR>
RESTRICTED SHARE AND RESTRICTED SHARE UNITS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">8.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Grant of Restricted Shares or Restricted Share Units</U>. Subject to the terms and conditions of the Plan, the
Committee, at any time and from time to time, may grant Restricted Shares and/or Restricted Share Units to Participants in such
amounts and upon such terms as the Committee shall determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">8.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Restricted Share or Restricted Share Unit Agreement</U>. Each Restricted Share and/or Restricted Share Unit grant
shall be evidenced by an Award Agreement that shall specify the Period(s) of Restriction, the number of Restricted Shares or the
number of Restricted Share Units granted, the settlement date for Restricted Share Units, and any such other provisions as the
Committee shall determine, provided that unless otherwise determined by the Committee or as set out in any Award Agreement, no
Restricted Share Unit shall vest later than three years after the date of grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">8.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Nontransferability of Restricted Share and Restricted Share Units</U>. Except as otherwise provided in this Plan
or the Award Agreement, the Restricted Shares and/or Restricted Share Units granted herein may not be sold, transferred, pledged,
assigned or otherwise alienated or hypothecated until the end of the applicable Period of Restriction specified in the Award Agreement
(and in the case of Restricted Share Units until the date of settlement through delivery or other payment), or upon earlier satisfaction
of any other conditions, as specified by the Committee in its sole discretion and set forth in the Award Agreement at the time
of grant or thereafter by the Committee. All rights with respect to the Restricted Shares and/or Restricted Share Units granted
to a Participant under the Plan shall be available during such Participant&rsquo;s lifetime only to such Participant, except as
otherwise provided in the Award Agreement at the time of grant or thereafter by the Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">8.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Other Restrictions</U>. The Committee shall impose, in the Award Agreement at the time of grant or anytime thereafter,
such other conditions and/or restrictions on any Restricted Shares or Restricted Share Units granted pursuant to this Plan as it
may deem advisable, including, without limitation, a requirement that Participants pay a stipulated purchase price for each Restricted
Share or each Restricted Share Unit, restrictions based upon the achievement of specific performance criteria, time-based restrictions
on vesting following the attainment of the performance criteria, time-based restrictions, restrictions under applicable laws or
under the requirements of any stock exchange or market upon which such Shares are listed or traded, or holding requirements or
sale restrictions placed on the Shares by the Company upon vesting of such Restricted Shares or Restricted Share Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To the extent deemed
appropriate by the Committee, the Company may retain the certificates representing Restricted Shares, or Shares delivered in settlement
of Restricted Share Units, in the Company&rsquo;s possession until such time as all conditions and/or restrictions applicable to
such Shares have been satisfied or lapse.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as otherwise
provided in this Article 8, Restricted Shares covered by each Restricted Share Award shall become freely transferable by the Participant
after all conditions and restrictions applicable to such Shares have been satisfied or lapse, and Restricted Share Units shall
be settled through payment in cash, Shares, or a combination of cash and Shares as the Committee, in its sole discretion, shall
determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">8.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Certificate Legend</U>. In addition to any legends placed on certificates pursuant to Section&nbsp;8.4 herein,
each certificate representing Restricted Shares granted pursuant to the Plan may bear a legend such as the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 45pt 0pt 49.5pt; text-align: justify; text-indent: 0in">&ldquo;The
sale or other transfer of the shares of stock represented by this certificate, whether voluntary, involuntary or by operation of
law, is subject to certain restrictions on transfer as set forth in the 2015 Omnibus Equity Incentive Compensation Plan and in
the associated Award Agreement. A copy of the Plan and such Award Agreement may be obtained from the Chief Financial Officer of
Caledonia Mining Corporation.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 45pt 0pt 49.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">8.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Voting Rights</U>. To the extent required by law, Participants holding Restricted Shares granted hereunder shall
have the right to exercise full voting rights with respect to those Shares during the Period of Restriction. A Participant shall
have no voting rights with respect to any Restricted Share Units granted hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">8.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Dividends and Other Distributions</U>. During the Period of Restriction, Participants holding Restricted Shares
or Restricted Share Units granted hereunder may, if the Committee so determines, be credited with dividends paid with respect to
the underlying Shares or Dividend Equivalents while they are so held in a manner determined by the Committee in its sole discretion.
Dividend Equivalents shall not apply to an Award unless specifically provided for in the Award Agreement. The Committee may apply
any restrictions to the dividends or Dividend Equivalents that the Committee deems appropriate. The Committee, in its sole discretion,
may determine the form of payment of dividends or Dividend Equivalents, including cash, Shares, Restricted Shares or Restricted
Share Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">8.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Death, Retirement and other Termination of Employment</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(a)</FONT></TD><TD STYLE="text-align: justify">Death: If a Participant dies while an Employee, Director of, or Consultant to, the Company or an
Affiliate:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">any Restricted Share or Restricted Share Units held by the Participant that have not vested as
at the Termination Date (as defined at Section&nbsp;8.8(e) below) shall vest immediately;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">any Restricted Shares and Restricted Share Units held by the Participant that have vested (including
Restricted Shares and Restricted Share Units vested in accordance with Section 8.8(a)(i)) as at the Termination Date (as defined
at Section&nbsp;8.8(e) below), shall be paid to the Participant's estate in accordance with the terms of the Plan and Award Agreement;
and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">such Participant's eligibility to receive further grants of Restricted Share Units or Restricted
Shares under the Plan ceases as of the Termination Date.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(b)</FONT></TD><TD STYLE="text-align: justify">Disability: If a Participant suffers a Disability while an Employee, Director of, or Consultant
to, the Company or an Affiliate and, as a result, his or her employment or engagement with the Company or an Affiliate is terminated:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">the number of Restricted Shares or Restricted Share Units held by the Participant and that have
not vested (collectively referred to in this Section&nbsp;8.8 as the &quot;<B>Unvested Awards</B>&quot;) shall be reduced to be
equal to the product of (A)&nbsp;the number of Unvested Awards; and (B)&nbsp;the fraction obtained when dividing (x)&nbsp;the number
of calendar days from the date of the award of the Unvested Awards to the Termination Date (as defined at Section&nbsp;8.8(e) below)
and (x)&nbsp;the number of calendar days from the date of the award of the Unvested Awards to the original vesting date set out
in the Award Agreement;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">the number of Unvested Awards, as calculated pursuant to Section 8.8(b)(i), shall continue to vest
in accordance with the terms of the Plan and Award Agreement; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">such Participant's eligibility to receive further grants of Restricted Share Units or Restricted
Shares under the Plan ceases as of the Termination Date.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(c)</FONT></TD><TD STYLE="text-align: justify">Retirement: If a Participant voluntarily Retires then:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">any Restricted Share Units held by the Participant that have vested before the Termination Date
(as defined at Section&nbsp;8.8(e) below) shall be paid to the Participant;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">any Unvested Awards held by the Participant at the Termination Date (as defined at Section&nbsp;8.8(e)
below) shall continue to vest in accordance with the terms of the Plan and Award Agreement following the Termination Date (as defined
at Section&nbsp;8.8(e) below) until the earlier of: (i)&nbsp;the date determined by the Committee, in its sole discretion; and
(ii)&nbsp;the date on which the Restricted Share Units vest pursuant to the original Award Agreement in respect of such Unvested
Awards; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">such Participant's eligibility to receive further grants of Restricted Share Units or Restricted
Shares under the Plan ceases as of the Termination Date.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(d)</FONT></TD><TD STYLE="text-align: justify">Termination other than Death, Disability or Retirement: Unless determined otherwise by the Committee,
where a Participant&rsquo;s employment or term of office or engagement terminates for any reason other than death, Disability or
Retirement (whether such termination occurs with or without any or adequate notice or reasonable notice, or with or without any
or adequate compensation <I>in lieu</I> of such notice), then:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">any Restricted Share Units held by the Participant that have vested before the Termination Date
(as defined at Section&nbsp;8.8(e) below) shall be paid to the Participant. Any Restricted Share Units or Restricted Shares held
by the Participant that are not yet vested at the Termination Date (as defined at Section&nbsp;8.8(e) below) will be immediately
cancelled and forfeited to the Company on the Termination Date;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">the eligibility of a Participant to receive further grants under the Plan ceases as of the date
that the Company or an Affiliate provides the Participant with written notification that the Participant's employment or term of
office or engagement, is terminated, notwithstanding that such date may be prior to the Termination Date; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">notwithstanding Sections 8.8(d)(i) and (ii) above, unless the Committee, in its sole discretion,
otherwise determines, at any time and from time to time, Restricted Share Units and Restricted Shares are not affected by a change
of employment arrangement within or among the Company or an Affiliate for so long as the Participant continues to be an employee
of the Company or an Affiliate.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(e)</FONT></TD><TD STYLE="text-align: justify">For purposes of section&nbsp;8.8, the term, &ldquo;<B>Termination Date</B>&rdquo; means, in the
case of a Participant whose employment or term of office or engagement with the Company or an Affiliate terminates:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">by reason of the Participant&rsquo;s death, the date of death;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">by reason of termination for Cause, resignation by the Participant or Retirement, the Participant's
last day actively at work for or actively engaged by the Company or an Affiliate;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">by reason of Disability, the date of the Participant's last day actively at work for or actively
engaged by the Company or an Affiliate;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iv)</FONT></TD><TD STYLE="text-align: justify">for any reason whatsoever other than death, termination for Cause, Retirement or termination by
reason of Disability, the later of the (A)&nbsp;date of the Participant's last day actively at work for or actively engaged by
the Company or the Affiliate, and (B)&nbsp;the last date of the Notice Period; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(v)</FONT></TD><TD STYLE="text-align: justify">the resignation of a director and the expiry of a director's term on the Board without re-election
(or nomination for election) shall each be considered to be a termination of his or her term of office.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(f)</FONT></TD><TD STYLE="text-align: justify">Change of Control: The occurrence of a Change of Control will not result in the vesting of Unvested
Awards, provided that: (i)&nbsp;such Unvested Awards will continue to vest in accordance with the Plan and Award Agreement; and
(ii)&nbsp;any Successor Entity agrees to assume the obligations of the Company in respect of such Unvested Awards.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(g)</FONT></TD><TD STYLE="text-align: justify">Termination Following a Change of Control: Where a Participant&rsquo;s employment or term of office
or engagement is terminated for any reason, other than for Cause, during the 24 months following a Change in Control, any Unvested
Awards as at the date of such termination shall be deemed to have vested as at the date of such termination and shall become payable
as at the date of termination.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">8.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Payment in Settlement of Restricted Share Units</U>. When and if Restricted Share Units become payable, the Participant
issued such units shall be entitled to receive payment from the Company in settlement of such units in cash, Shares (issued from
treasury) of equivalent value (based on the FMV, as defined in the Award Agreement at the time of grant or thereafter by the Committee),
in some combination thereof, or in any other form, all as determined by the Committee at its sole discretion. The Committee&rsquo;s
determination regarding the form of payout shall be set forth or reserved for later determination in the Award Agreement for the
grant of the Restricted Share Units. In the event settlement is made by payment in cash, such payment shall be made by the earlier
of (i)&nbsp;2&frac12; months after the close of the year in which such conditions or restrictions were satisfied or lapsed and
(ii)&nbsp;December 31 of the third year following the year of the grant date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
9</FONT><BR>
DEFERRED SHARES UNITS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">9.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Grant of Deferred Share Units</U>. Subject to the terms and conditions of the Plan, the Committee, at any time
and from time to time, may grant Deferred Share Units to Participants in such amounts and upon such terms as the Committee shall
determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">9.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Deferred Share Unit Agreement</U>. Each Deferred Share Unit grant shall be evidenced by an Award Agreement that
shall specify the number of Deferred Share Units granted, the settlement date for Deferred Share Units, and any other provisions
as the Committee shall determine, including, but not limited to a requirement that Participants pay a stipulated purchase price
for each Deferred Share Unit, restrictions based upon the achievement of specific performance criteria, time-based restrictions,
restrictions under applicable laws or under the requirements of any stock exchange or market upon which the Shares are listed or
traded, or holding requirements or sale restrictions placed on the Shares by the Company upon vesting of such Deferred Share Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">9.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Nontransferability of Deferred Share Units</U>. Except as otherwise provided in this Plan or the Award Agreement,
the Deferred Share Units granted herein may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated.
All rights with respect to the Deferred Share Units granted to a Participant under the Plan shall be available during such Participant&rsquo;s
lifetime only to such Participant, except as otherwise provided in the Award Agreement at the time of grant or thereafter by the
Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">9.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Termination of Employment<FONT STYLE="color: black">, Consultancy or Directorship</FONT></U>. Each Award Agreement
shall set forth the extent to which the Participant shall have the right to retain Deferred Share Units following termination of
the Participant&rsquo;s employment or other relationship with the Company or Affiliates. Such provisions shall be determined in
the sole discretion of the Committee, need not be uniform among all Deferred Share Units issued pursuant to the Plan, and may reflect
distinctions based on the reasons for termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
10</FONT><BR>
PERFORMANCE SHARES AND PERFORMANCE UNITS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">10.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Grant of Performance Shares and Performance Units</U>. Subject to the terms and conditions of the Plan, the Committee,
at any time and from time to time, may grant Performance Shares and/or Performance Units to Participants in such amounts and upon
such terms as the Committee shall determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">10.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Value of Performance Shares and Performance Units</U>. Each Performance Share and Performance Unit shall have
an initial value equal to the FMV of a Share on the date of grant. The Committee shall set performance criteria for a Performance
Period in its discretion, which, depending on the extent to which they are met, will determine, in the manner determined by the
Committee and set forth in the Award Agreement, the value and/or number of each Performance Share or Performance Unit that will
be paid to the Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">10.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Earning of Performance Shares and Performance Units</U>. Subject to the terms of this Plan and the applicable
Award Agreement, after the applicable Performance Period has ended, the holder of Performance Shares/Performance Units shall be
entitled to receive payout on the value and number of Performance Shares/Performance Units, determined as a function of the extent
to which the corresponding performance criteria have been achieved. Notwithstanding the foregoing, the Company shall have the ability
to require the Participant to hold any Shares received pursuant to such Award for a specified period of time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">10.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Form and Timing of Payment of Performance Shares and Performance Units</U>. Payment of earned Performance Shares/Performance
Units shall be as determined by the Committee and as set forth in the Award Agreement. Subject to the terms of the Plan, the Committee,
in its sole discretion, may pay earned Performance Shares/Performance Units in the form of cash or in Shares issued from treasury
(or in a combination thereof) equal to the value of the earned Performance Shares/Performance Units at the end of the applicable
Performance Period. Any Shares may be granted subject to any restrictions deemed appropriate by the Committee. The determination
of the Committee with respect to the form of payout of such Awards shall be set forth in the Award Agreement for the grant of the
Award or reserved for later determination. In no event will delivery of such Shares or payment of any cash amounts be made later
than the earlier of (i)&nbsp;2&frac12; months after the close of the year in which such conditions or restrictions were satisfied
or lapsed and (ii)&nbsp;December 31 of the third year following the year of the grant date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">10.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Dividends and Other Distributions</U>. The Committee shall determine whether Participants holding Performance
Shares will receive Dividend Equivalents with respect to dividends declared with respect to the Shares. Dividends or Dividend Equivalents
may be subject to accrual, forfeiture or payout restrictions as determined by the Committee in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">10.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Death and other Termination of Employment</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(a)</FONT></TD><TD STYLE="text-align: justify">Death: If a Participant dies while an Employee, Director of, or Consultant to, the Company or an
Affiliate:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">the number of Performance Shares or Performance Share Units held by the Participant that have not
vested (collectively referred to in this Section&nbsp;10.6 as &ldquo;<B>Unvested Awards</B>&rdquo;) shall be adjusted as set out
in the applicable Award Agreement (collectively referred to in this Section&nbsp;10.6 as &ldquo;<B>Deemed Awards</B>&rdquo;);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">any Deemed Awards shall vest immediately;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">any Performance Shares and Performance Shares Units held by the Participant that have vested (including
Deemed Awards vested in accordance with Section 10.6(a)(ii) shall be paid to the Participant&rsquo;s estate in accordance with
the terms of the Plan and Award Agreement; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iv)</FONT></TD><TD STYLE="text-align: justify">such Participant&rsquo;s eligibility to receive further grants of Performance Shares or Performance
Share Units under the Plan ceases as of the Termination Date (as defined at Section 10.6(e) below).</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(b)</FONT></TD><TD STYLE="text-align: justify">Disability: If a Participant suffers a Disability while an Employee, officer or director of or
Consultant to the Company or an Affiliate and as a result his or her employment with the company or Affiliate is terminated:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">Unvested Awards shall be reduced to be equal to the product of (A)&nbsp;the number of Unvested
Awards; and (B)&nbsp;the fraction obtained when dividing (x)&nbsp;the number of calendar days from the date of the award of the
Unvested Awards to the Termination Date (as defined at Section&nbsp;10.6(e) below) and (x)&nbsp;the number of calendar days from
the date of the award of the Unvested Awards to the original vesting date set out in the Award Agreement;</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">the number of Unvested Awards, as calculated pursuant to Section&nbsp;10.6(b)(i), shall continue
to vest in accordance with the terms of its Plan and Award Agreement; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">such Participant&rsquo;s eligibility to receive further grants of Performance Share Units or Performance
Shares under the Plan ceases as of the Termination Date.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(c)</FONT></TD><TD STYLE="text-align: justify">Retirement: If a Participant voluntarily Retires then:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">any Performance Shares or Performance Share Units held by the Participant that have vested before
the Termination Date shall be paid to the Participant;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">any Unvested Awards held by the Participant at the Termination Date (as defined at Section&nbsp;10.6(e)
below) shall continue to vest in accordance with the terms of the Plan and Award Agreement following the Termination Date until
the earlier of: (i)&nbsp;the date determined by the Committee, in its sole discretion; and (ii)&nbsp;the date on which the Performance
Share Units vest pursuant to the original Award Agreement in respect of such Unvested Awards; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">such Participant's eligibility to receive further grants of Performance Shares or Performance Share
Units under the Plan ceases as of the Termination Date.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(d)</FONT></TD><TD STYLE="text-align: justify">Termination other than Death, Disability or Retirement: Unless determined otherwise by the Committee,
where a Participant&rsquo;s employment or term of office or engagement terminates for any reason other than death (whether such
termination occurs with or without any or adequate notice or reasonable notice, or with or without any or adequate compensation
in lieu of such notice), then:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">any Performance Share Units or Performance Shares held by the Participant that have vested before
the Termination Date shall be paid to the Participant in accordance with the terms of the Plan and Award Agreement. Any Performance
Shares Units or Performance Shares held by the Participant that are not yet vested at the Termination Date will be immediately
cancelled and forfeited to the Company on the Termination Date;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">the eligibility of a Participant to receive further grants under the Plan ceases as of the date
that the Company or an Affiliate provides the Participant with written notification that the Participant&rsquo;s employment or
term of office or engagement, is terminated, notwithstanding that such date may be prior to the Termination Date; and</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">notwithstanding Sections&nbsp;10.6(c)(i) and (ii) above, unless the Committee, in its sole discretion,
otherwise determines, at any time and from time to time, Performance Share Units or Performance Shares are not affected by a change
of employment arrangement within or among the Company or an Affiliate for so long as the Participant continues to be an employee
of the Company or an Affiliate.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(e)</FONT></TD><TD STYLE="text-align: justify">For purposes of this Section 10.6, the term, &ldquo;<B>Termination Date</B>&rdquo; has the meaning
set out in Section 8.8(e).</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(f)</FONT></TD><TD STYLE="text-align: justify">Change of Control: The occurrence of a Change of Control will not result in the vesting of Unvested
Awards, provided that:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">such Unvested Awards will continue to vest in accordance with the Plan and the Award Agreement;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">the level of achievement of Performance Goals for Fiscal Years completed prior to the date of the
Change of Control shall be based on the actual performance achieved to the date of the Change of Control and the level of achievement
of Performance Goals for Fiscal Years completed following the date of the Change of Control shall be based on the assumed achievement
of 100% of the Performance Goals; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">any Successor Entity agrees to assume the obligations of the Company in respect of such Unvested
Awards.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(g)</FONT></TD><TD STYLE="text-align: justify">Termination following Change of Control: For the period of 24 months following a Change of Control,
where a Participant&rsquo;s employment or term of office or engagement is terminated for any reason, other than for Cause:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">any Unvested Awards as at the date of such termination shall be deemed to have vested as at the
date of such termination and shall become payable as at the date of termination; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">the level of achievement of Performance Goals for any Unvested Awards that are deemed to have vested
pursuant to (i) above, shall be based on the actual performance achieved at the end of the Fiscal Year immediately prior to the
date of termination.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">10.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Nontransferability of Performance Shares and Performance Units</U>. Except as otherwise provided in a Participant&rsquo;s
Award Agreement at the time of grant or thereafter by the Committee, Performance Shares/Performance Units may not be sold, transferred,
pledged, assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. Further,
except as otherwise provided in a Participant&rsquo;s Award Agreement or otherwise by the Committee at any time, a Participant&rsquo;s
rights under the Plan shall inure during such Participant&rsquo;s lifetime only to such Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
11</FONT><BR>
FULL VALUE SHARE-BASED AWARDS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">11.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Share-Based Awards</U>. The Committee may, to the extent permitted by the TSX, grant other types of equity-based
or equity-related Awards not otherwise described by the terms of this Plan (including the grant or offer for sale of unrestricted
Shares and issuance of unrestricted Shares in satisfaction of compensation (including salary, bonus or other incentive)) in such
amounts and subject to such terms and conditions, including, but not limited to, being subject to performance criteria, or in satisfaction
of such obligations, as the Committee shall determine; provided that the maximum number of Share-Based Awards issued in any calendar
year shall not exceed one per cent (1%) of the issued and outstanding Shares on January 1 of such calendar year. Such Awards may
involve the transfer of actual Shares to Participants, or payment in cash or otherwise of amounts based on the value of Shares,
subject to applicable corporate law and securities law requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">11.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Termination of Employment</U>. Each Award Agreement shall set forth the extent to which the Participant shall
have the right to receive Share-Based Awards following termination of the Participant&rsquo;s employment or other relationship
with the Company or Affiliates. Such provisions shall be determined in the sole discretion of the Committee, need not be uniform
among all Share-Based Awards issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">11.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Nontransferability of Share-Based Awards</U>. Except as otherwise provided in a Participant&rsquo;s Award Agreement
at the time of grant or thereafter by the Committee, Share-Based Awards may not be sold, transferred, pledged, assigned or otherwise
alienated or hypothecated, other than by will or by the laws of descent and distribution. Further, except as otherwise provided
in a Participant&rsquo;s Award Agreement at the time of grant or thereafter by the Committee, a Participant&rsquo;s rights under
the Plan shall be exercisable during such Participant&rsquo;s lifetime only by such Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
12</FONT><BR>
BENEFICIARY DESIGNATION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">12.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Beneficiary</U>. A Participant&rsquo;s &ldquo;beneficiary&rdquo; is the person or persons entitled to receive
payments or other benefits or exercise rights that are available under the Plan in the event of the Participant&rsquo;s death.
A Participant may designate a beneficiary or change a previous beneficiary designation at such times as prescribed by the Committee
and by using such forms and following such procedures approved or accepted by the Committee for that purpose. If no beneficiary
designated by the Participant is eligible to receive payments or other benefits or exercise rights that are available under the
Plan at the Participant&rsquo;s death, the beneficiary shall be the Participant&rsquo;s estate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">12.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Discretion of the Committee</U>. Notwithstanding the provisions above, the Committee may, in its discretion, after
notifying the affected Participants, modify the foregoing requirements, institute additional requirements for beneficiary designations,
or suspend the existing beneficiary designations of living Participants or the process of determining beneficiaries under this
Article 12, or both, in favor of another method of determining beneficiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
13</FONT><BR>
RIGHTS OF PERSONS ELIGIBLE TO PARTICIPATE</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">13.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Employment</U>. Nothing in the Plan or an Award Agreement shall interfere with or limit in any way the right of
the Company or an Affiliate to terminate any Participant&rsquo;s employment, consulting or other service relationship with the
Company or an Affiliate at any time, nor confer upon any Participant any right to continue in the capacity in which he or she is
employed or otherwise serves the Company or an Affiliate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Neither an Award nor
any benefits arising under this Plan shall constitute part of an employment or service contract with the Company or an Affiliate,
and, accordingly, subject to the terms of this Plan, this Plan may be terminated or modified at any time in the sole and exclusive
discretion of the Committee or the Board without giving rise to liability on the part of the Company or an Affiliate for severance
payments or otherwise, except as provided in this Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For purposes of the
Plan, unless otherwise provided by the Committee, a transfer of employment of a Participant between the Company and an Affiliate
or among Affiliates, shall not be deemed a termination of employment. The Committee may provide in a Participant&rsquo;s Award
Agreement or otherwise the conditions under which a transfer of employment to an entity that is spun off from the Company or an
Affiliate shall not be deemed a termination of employment for purposes of an Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">13.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Participation</U>. No Employee or other Person eligible to participate in the Plan shall have the right to be
selected to receive an Award. No person selected to receive an Award shall have the right to be selected to receive a future Award,
or, if selected to receive a future Award, the right to receive such future Award on terms and conditions identical or in proportion
in any way to any prior Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">13.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Rights as a Shareholder</U>. A Participant shall have none of the rights of a shareholder with respect to Shares
covered by any Award until the Participant becomes the record holder of such Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
14</FONT><BR>
CHANGE OF CONTROL</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">14.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Accelerated Vesting and Payment</U>. Subject to the provisions of Section&nbsp;14.2 or as otherwise provided in
the Plan or the Award Agreement, in the event of a Change of Control, the Committee shall have the discretion to unilaterally determine
that all outstanding Awards shall be cancelled upon a Change of Control, and that the value of such Awards, as determined by the
Committee in accordance with the terms of the Plan and the Award Agreements, shall be paid out in cash in an amount based on the
Change of Control Price within a reasonable time subsequent to the Change of Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">14.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Alternative Awards</U>. Notwithstanding Section&nbsp;14.1, no cancellation, acceleration of vesting, lapsing of
restrictions, payment of an Award, cash settlement or other payment shall occur with respect to any Award if the Committee reasonably
determines in good faith prior to the occurrence of a Change of Control that such Award shall be honored or assumed, or new rights
substituted therefor (with such honored, assumed or substituted Award hereinafter referred to as an &ldquo;<B>Alternative Award</B>&rdquo;)
by any successor to the Company or an Affiliate as described in Article 16; provided, however, that any such Alternative Award
must:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(a)</FONT></TD><TD STYLE="text-align: justify">be based on stock which is traded on the TSX and/or an established securities market in London,
England or the United States;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(b)</FONT></TD><TD STYLE="text-align: justify">provide such Participant with rights and entitlements substantially equivalent to or better than
the rights, terms and conditions applicable under such Award, including, but not limited to, an identical or better exercise or
vesting schedule (including vesting upon termination of employment) and identical or better timing and methods of payment;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(c)</FONT></TD><TD STYLE="text-align: justify">recognize, for the purpose of vesting provisions, the time that the Award has been held prior to
the Change of Control; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(d)</FONT></TD><TD STYLE="text-align: justify">have substantially equivalent economic value to such Award (determined prior to the time of the
Change of Control).</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
15</FONT><BR>
AMENDMENT, MODIFICATION, SUSPENSION AND TERMINATION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">15.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Amendment, Modification, Suspension and Termination</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(a)</FONT></TD><TD STYLE="text-align: justify">Except as set out in clauses (b) and (c) below, and as otherwise provided by law, or stock exchange
rules, the Committee or Board may, at any time and from time to time, alter, amend, modify, suspend or terminate the Plan or any
Award in whole or in part without notice to, or approval from, shareholders, including, but not limited to for the purposes of:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">making any amendments to the general vesting provisions of any Award;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">making any amendments to the general term of any Award provided that no Award held by an Insider
may be extended beyond its original expiry date;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">making any amendments to add covenants or obligations of the Company for the protection of Participants;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iv)</FONT></TD><TD STYLE="text-align: justify">making any amendments not inconsistent with the Plan as may be necessary or desirable with respect
to matters or questions which, in the good faith opinion of the Board, it may be expedient to make, including amendments that are
desirable as a result of changes in law or as a &ldquo;housekeeping&rdquo; matter; or</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(v)</FONT></TD><TD STYLE="text-align: justify">making such changes or corrections which are required for the purpose of curing or correcting any
ambiguity or defect or inconsistent provision or clerical omission or mistake or manifest error.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(b)</FONT></TD><TD STYLE="text-align: justify">Other than as expressly provided in an Award Agreement or as set out herein with respect to a Change
of Control, the Committee shall not alter or impair any rights or increase any obligations with respect to an Award previously
granted under the Plan without the consent of the Participant.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(c)</FONT></TD><TD STYLE="text-align: justify">The following amendments to the Plan shall require the prior approval of the Company&rsquo;s shareholders:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(i)</FONT></TD><TD STYLE="text-align: justify">A reduction in the Option Price of a previously granted Option or the Grant Price of a previously
granted SAR benefitting an Insider of the Company or one of its Affiliates except for adjustments to the Option Price or Grant
Price applicable to outstanding Awards pursuant to Section&nbsp;4.2 hereof.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD STYLE="text-align: justify">Any amendment or modification which would increase the total number of Shares available for issuance
under the Plan.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD STYLE="text-align: justify">An increase to the limit on the number of Shares issued or issuable under the Plan to Insiders
of the Company;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(iv)</FONT></TD><TD STYLE="text-align: justify">An extension of the expiry date of an Option or SAR, other than as otherwise permitted hereunder
in relation to a Blackout Period or otherwise; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 81pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="color: #010000">(v)</FONT></TD><TD STYLE="text-align: justify">Any amendment to the amendment provisions of the Plan under this Section&nbsp;15.1.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">15.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Adjustment of Awards Upon the Occurrence of Unusual or Nonrecurring Events</U>. The Committee may make adjustments
in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events in addition
to the events described in Section&nbsp;4.2 hereof affecting the Company or the financial statements of the Company or of changes
in applicable laws, regulations or accounting principles, whenever the Committee determines that such adjustments are appropriate
in order to prevent unintended dilution or enlargement of the benefits or potential benefits intended to be made available under
the Plan. The determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on Participants
under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">15.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Awards Previously Granted</U>. Notwithstanding any other provision of the Plan to the contrary, no termination,
amendment, suspension or modification of the Plan shall adversely affect in any material way any Award previously granted under
the Plan, without the written consent of the Participant holding such Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
16</FONT><BR>
WITHHOLDING</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">16.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Withholding</U>. The Company or any Affiliate shall have the power and the right to deduct or withhold, or require
a Participant to remit to the Company or any Affiliate, an amount sufficient to satisfy federal, state and local taxes or provincial,
domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising or as a result of this
Plan or any Award hereunder. The Committee may provide for Participants to satisfy withholding requirements by having the Company
withhold and sell Shares or the Participant making such other arrangements, including the sale of Shares, in either case on such
conditions as the Committee specifies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">16.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Acknowledgement</U>. Participant acknowledges and agrees that the ultimate liability for all taxes legally payable
by Participant is and remains Participant&rsquo;s responsibility and may exceed the amount actually withheld by the Company. Participant
further acknowledges that the Company: (a)&nbsp;makes no representations or undertakings regarding the treatment of any taxes in
in connection with any aspect of this Plan; and (b)&nbsp;does not commit to and is under no obligation to structure the terms of
this Plan to reduce or eliminate Participant&rsquo;s liability for taxes or achieve any particular tax result. Further, if Participant
has become subject to tax in more than one jurisdiction, Participant acknowledges that the Company may be required to withhold
or account for taxes in more than one jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
17</FONT><BR>
SUCCESSORS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any obligations of
the Company or an Affiliate under the Plan with respect to Awards granted hereunder shall be binding on any successor to the Company
or Affiliate, respectively, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation
or otherwise, of all or substantially all of the businesses and/or assets of the Company or Affiliate, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
18</FONT><BR>
GENERAL PROVISIONS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">18.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Forfeiture Events</U>. Without limiting in any way the generality of the Committee&rsquo;s power to specify any
terms and conditions of an Award consistent with law, and for greater clarity, the Participant&rsquo;s rights, payments and benefits
with respect to an Award shall, at the sole discretion of the Committee, be subject to reduction, cancellation, forfeiture of any
vested and unvested Awards or recoupment of any payments or settlements made in the current Fiscal Year or immediately prior Fiscal
Year (provided such determination is made within 45&nbsp;days of the end of that Fiscal Year) upon the occurrence of certain specified
events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such specified events shall include,
but shall not be limited to, any of: (a)&nbsp;the Participant&rsquo;s failure to accept the terms of the Award Agreement, violation
of material Company and Affiliate policies, breach of noncompetition, confidentiality, nonsolicitation, noninterference, corporate
property protection or other agreements that may apply to the Participant, or other conduct by the Participant that is detrimental
to the business or reputation of the Company and Affiliates; (b)&nbsp;the Participant&rsquo;s misconduct, fraud, gross negligence;
and (c)&nbsp;the restatement of the financial statements of the Company that resulted in Awards which should not have vested, settled,
or been paid had the original financial statements been properly stated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as expressly
otherwise provided in this Plan or an Award Agreement, the termination and the expiry of the period within which an Award will
vest and may be exercised by a Participant shall be based upon the last day of actual service by the Participant to the Company
and specifically does not include any period of notice that the Company may be required to provide to the Participant under applicable
employment law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">18.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Legend</U>. The certificates for Shares may include any legend that the Committee deems appropriate to reflect
any restrictions on transfer of such Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">18.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Delivery of Title</U>. The Company shall have no obligation to issue or deliver evidence of title for Shares issued
under the Plan prior to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(a)</FONT></TD><TD STYLE="text-align: justify">Obtaining any approvals from governmental agencies that the Company determines are necessary or
advisable; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(b)</FONT></TD><TD STYLE="text-align: justify">Completion of any registration or other qualification of the Shares under any applicable law or
ruling of any governmental body that the Company determines to be necessary or advisable.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">18.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Investment Representations</U>. The Committee may require each Participant receiving Shares pursuant to an Award
under this Plan to represent and warrant in writing that the Participant is acquiring the Shares for investment and without any
present intention to sell or distribute such Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">18.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Uncertificated Shares</U>. To the extent that the Plan provides for issuance of certificates to reflect the transfer
of Shares, the transfer of such Shares may be effected on a noncertificated basis to the extent not prohibited by applicable law
or the rules of any applicable stock exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">18.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Unfunded Plan</U>. Participants shall have no right, title or interest whatsoever in or to any investments that
the Company or an Affiliate may make to aid it in meeting its obligations under the Plan. Nothing contained in the Plan, and no
action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary relationship
between the Company or an Affiliate and any Participant, beneficiary, legal representative or any other person. Awards shall be
general unsecured obligations of the Company, except that if an Affiliate executes an Award Agreement instead of the Company the
Award shall be a general unsecured obligation of the Affiliate and not any obligation of the Company. To the extent that any individual
acquires a right to receive payments from the Company or an Affiliate, such right shall be no greater than the right of an unsecured
general creditor of the Company or Affiliate, as applicable. All payments to be made hereunder shall be paid from the general funds
of the Company or Affiliate, as applicable, and no special or separate fund shall be established and no segregation of assets shall
be made to assure payment of such amounts except as expressly set forth in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">18.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>No Fractional Shares</U>. No fractional Shares shall be issued or delivered pursuant to the Plan or any Award
Agreement. In such an instance, unless the Committee determines otherwise, fractional Shares and any rights thereto shall be forfeited
or otherwise eliminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">18.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Other Compensation and Benefit Plans</U>. Nothing in this Plan shall be construed to limit the right of the Company
or an Affiliate to establish other compensation or benefit plans, programs, policies or arrangements. Except as may be otherwise
specifically stated in any other benefit plan, policy, program or arrangement, no Award shall be treated as compensation for purposes
of calculating a Participant&rsquo;s rights under any such other plan, policy, program or arrangement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">18.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>No Constraint on Corporate Action</U>. Nothing in this Plan shall be construed (i) to limit, impair or otherwise
affect the Company&rsquo;s or an Affiliate&rsquo;s right or power to make adjustments, reclassifications, reorganizations or changes
in its capital or business structure, or to merge or consolidate, or dissolve, liquidate, sell or transfer all or any part of its
business or assets, or (ii) to limit the right or power of the Company or an Affiliate to take any action which such entity deems
to be necessary or appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">18.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Compliance with Canadian Securities Laws</U>. All Awards and the issuance of Shares underlying such Awards issued
pursuant to the Plan will be issued pursuant to an exemption from the prospectus requirements of Canadian securities laws where
applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase; color: #010000">Article
19</FONT><BR>
LEGAL CONSTRUCTION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">19.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Gender and Number</U>. Except where otherwise indicated by the context, any masculine term used herein also shall
include the feminine, the plural shall include the singular, and the singular shall include the plural.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">19.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Severability</U>. In the event any provision of this Plan shall be held illegal or invalid for any reason, the
illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the
illegal or invalid provision had not been included.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">19.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Requirements of Law</U>. The granting of Awards and the issuance of Shares under the Plan shall be subject to
all applicable laws, rules and regulations, and to such approvals by any governmental agencies or securities exchanges as may be
required. The Company or an Affiliate shall receive the consideration required by law for the issuance of Awards under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The inability of the
Company or an Affiliate to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company
or an Affiliate to be necessary for the lawful issuance and sale of any Shares hereunder, shall relieve the Company or Affiliate
of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been
obtained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">19.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Governing Law</U>. The Plan and each Award Agreement shall be governed by the laws of the Province of Ontario
excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of the Plan
to the substantive law of another jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">19.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Compliance with Section 409A of the Code</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(a)</FONT></TD><TD STYLE="text-align: justify">To the extent the Plan is applicable to a particular Participant subject to the Code, it is intended
that this Plan and any Awards made hereunder shall not provide for the payment of &ldquo;deferred compensation&rdquo; within the
meaning of Section 409A of the Code or shall be structured in a manner and have such terms and conditions that would not cause
such a Participant to be subject to taxes and interest pursuant to Section 409A of the Code. This Plan and any Awards made hereunder
shall be administrated and interpreted in a manner consistent with this intent.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(b)</FONT></TD><TD STYLE="text-align: justify">To the extent that any amount or benefit in favour of a Participant who is subject to the Code
would constitute &ldquo;deferred compensation&rdquo; for purposes of Section&nbsp;409A of the Code would otherwise be payable or
distributable under this Plan or any Award Agreement by reason of the occurrence of a Change of Control or the Participant&rsquo;s
disability or separation from service, such amount or benefit will not be payable or distributable to the Participant by reason
of such circumstance unless: (i)&nbsp;the circumstances giving rise to such Change of Control, disability or separation from service
meet the description or definition of &ldquo;change in control event,&rdquo; &ldquo;disability,&rdquo; or &ldquo;separation from
service,&rdquo; as the case may be, in Section&nbsp;409A of the Code and applicable proposed or final Treasury regulations thereunder,
and (ii)&nbsp;the payment or distribution of such amount or benefit would otherwise comply with Section&nbsp;409A of the Code and
not subject the Participant to taxes and interest pursuant to Section&nbsp;409A of the Code. This provision does not prohibit the
vesting of any Award or the vesting of any right to eventual payment or distribution of any amount or benefit under this Plan or
any Award Agreement.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(c)</FONT></TD><TD STYLE="text-align: justify">The Committee shall use its reasonable discretion to determine the extent to which the provisions
of this Article&nbsp;19.5 will apply to a Participant who is subject to taxation under the ITA.</TD></TR></TABLE>

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