0000016875-22-000018 Sample Contracts

STOCK OPTION AGREEMENT
Stock Option Agreement • April 28th, 2022 • Canadian Pacific Railway LTD/Cn • Railroads, line-haul operating • Alberta

This Stock Option Agreement is entered into between Canadian Pacific Railway Limited (the “Corporation”) and the Participant named below (the “Optionholder”) pursuant to the Canadian Pacific Railway Limited Management Stock Option Incentive Plan as amended from time to time (the “Plan”) and confirms that:

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OPTION AGREEMENT [Canadian Form of Agreement]
Option Agreement • April 28th, 2022 • Canadian Pacific Railway LTD/Cn • Railroads, line-haul operating • Alberta

This Option Agreement is entered into between Canadian Pacific Railway Limited (the “Corporation”) and the Participant named above (the “Optionholder”) pursuant to the Canadian Pacific Railway Limited Management Stock Option Incentive Plan as amended from time to time (the “Plan”) and confirms that:

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FIRST AMENDING AGREEMENT
First Amending Agreement • April 28th, 2022 • Canadian Pacific Railway LTD/Cn • Railroads, line-haul operating • Alberta

BANK OF MONTREAL, a Canadian chartered bank, as administrative agent of the Lenders (hereinafter referred to as the "Agent"),

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