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1、FOUNDERS’RESTRICTEDRIGHTSAGREEMENTTHISAGREEMENTdatedasofthe___dayof____,20__.AMONG:[enternameofFounderOne](“[Smith]”)of[Toronto],OntarioAND:[enternameofFounderTwo](“[Jones]”)of[Toronto],OntarioAND:COMPANYNAMEacorporationincorporatedunderthelaws[ofCanadaorthePro
2、vinceofOntario](the“Corporation”)WHEREASeachof[Smith]and[Jones](each,a“Founder”)istheholderofrecordofcertaincommonshares(the“CommonShares”)inthecapitaloftheCorporation;ANDWHEREASeachoftheFoundersarekeyemployeesoftheCorporation;ANDWHEREAStheFoundershaveagreedtha
3、tinrespectofthemattersdealtwithherein,thevotingoftheCommonSharesandanyothersecuritiesoftheCorporationheldorsubsequentlyacquiredbyanyFounder(collectively,the“Securities”)shallbegovernedbythisAgreement;NOWTHEREFOREthisAgreementwitnessesthatinconsiderationofthemut
4、ualcovenantsandagreementshereinaftercontained,thepartiesheretocovenantandagreeasfollows:ARTICLE1INTERPRETATION“BoardNominee”meansthememberoftheBoardofDirectorsoftheCorporationappointedbythe12BoardofDirectorstoexercisethevotingrightsassetoutinthisAgreement.“Chan
5、geofControl”meansanytransactionorseriesoftransactionswhichresultinthetransferofthedirectorindirectownershipofmorethan50%oftheissuedandoutstandingvotingshares,oranysecuritiesconvertibleintovotingshares,oftheCorporation,otherthanachangeofcontrolresultingfromafina
6、ncinguponsuchtermsastheFounders,theotherinvestorsandtheCorporationmayagree.“ConstructiveDismissal”shallbedeemedtohaveoccurredifthereexistsanymaterialadversechangewithouttheconsentoftheExecutiveinthetitle,status,position,jobfunctionandreportingresponsibilitiesof
7、theExecutivefromthosesetoutinthisAgreement.“EffectiveDate”means:(a)inthecaseofdeathofaFounder,thedateofdeath;(b)inthecaseofPermanentDisability,thedatethatthedeterminationofPermanentDisabilityismadebyacourtofcompetentjurisdictioninCanadaorasotherwisedeterminedin
8、accordancewiththedefinitionofPermanentDisabilitybelow;(c)iftheFounder’semployment,servicesorBoardofDirectorspositionisterminatedbyreasonofretirementbytheFounder,thedatewhich
