IMAX CORPORATION AMENDED EMPLOYMENT AGREEMENT
Contract Categories:
Human Resources
- Employment Agreements
EX-10.17 6 d304280dex1017.htm EX-10.17 EX-10.17
Exhibit 10.17
IMAX CORPORATION
AMENDED EMPLOYMENT AGREEMENT
This agreement amends the amended employment agreement (the “Agreement”) between Richard L. Gelfond (the “Executive”) and IMAX Corporation (the “Company”) dated July 1, 1998, as amended, on the same terms and conditions except as set out below:
| 1. | Term. The term of the Agreement (the “Term”) is extended until December 31, 2013 (the “Term End”). |
| 2. | Incentive Compensation. On December 31, 2011, the Executive shall be granted, in accordance with the terms of the IMAX Stock Option Plan (the “Plan”), stock options to purchase 400,000 common shares of the Company (the “Options”) at an exercise price per Common Share equal to the Fair Market Value, as defined in the Plan. The Options shall have a 10-year term and vest as follows: |
| Number of Options | Vesting Date | |
| 133,333 | May 1, 2013 | |
| 133,333 | September 1, 2013 | |
| 133,334 | December 31, 2013 |
The vesting of the Options shall be accelerated upon a “change of control” as defined in the Agreement, and shall be governed, to the extent applicable, by the provisions in the Agreement regarding change of control.
| 3. | The entering into this agreement shall not prejudice any rights or waive any obligations under any other agreement between the Executive and the Company. |
DATED as of December 12, 2011.
| AGREED AND ACCEPTED: |
| /s/ Richard L. Gelfond |
| Richard L. Gelfond |
| IMAX CORPORATION | ||
| Per: | /s/ Garth M. Girvan | |
| Name: Garth M. Girvan | ||
| Title: Director | ||
