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Management Information Circular

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Management Information Circular NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS AND MANAGEMENT INFORMATION CIRCULAR In respect of the ANNUAL GENERAL MEETING OF SHAREHOLDERS OF POSTMEDIA NETWORK CANADA CORP. TO BE HELD ON JANUARY 8, 2015 November 26, 2014 POSTMEDIA NETWORK CANADA CORP. NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS NOTICE IS HEREBY GIVEN that an annual general meeting of shareholders (the “Meeting”) of Postmedia Network Canada Corp. (“Postmedia”) will be held at Postmedia Place, 365 Bloor Street East, 11th Floor, Toronto, Ontario on January 8, 2015, at 2:00 p.m. (Toronto time), for the following purposes: 1. to receive Postmedia’s consolidated financial statements, and the independent auditor’s report thereon, for the year ended August 31, 2014; 2. to re-appoint PricewaterhouseCoopers LLP as Postmedia’s auditor for the year ending August 31, 2015 and to authorize the Board of Directors of Postmedia (the “Board of Directors”) to fix the auditor’s remuneration; 3. to elect the directors for the coming year; and 4. to transact such other business as may properly come before the Meeting or any adjournment thereof. The specific details of the matters proposed to be put before the Meeting are set forth in the accompanying Management Information Circular. Shareholders who are unable to attend the Meeting are requested to complete, date, sign and return the enclosed form of proxy so that as large a representation as possible may be had at the Meeting. The Board of Directors has fixed the close of business on November 20, 2014 as the record date, being the date for the determination of the registered holders of Class C voting shares and Class NC variable voting shares in the capital of Postmedia (collectively, the “Shares”) entitled to receive notice of and vote at the Meeting and any adjournment thereof. Proxies to be used or acted upon at the Meeting or any adjournment thereof must be deposited with Postmedia’s transfer agent, Computershare Investor Services Inc., 100 University Avenue, 8th Floor, Toronto, Ontario, M5J 2Y1 no later than 2:00 p.m. (Toronto time) on January 6, 2015 or 48 hours (excluding Saturdays, Sundays and holidays) before any adjournment of the Meeting. Late proxies may be accepted or rejected by the Chair of the Meeting in his discretion, and the Chair is under no obligation to accept or reject any particular late proxy. DATED at Toronto, Ontario this 26th day of November 2014. By Order of the Board of Directors Rod Phillips Chair of the Board TABLE OF CONTENTS GENERAL PROXY INFORMATION .............................................................................................................................. 1 VOTING INFORMATION .............................................................................................................................................................. 1 Voting Matters ................................................................................................................................................................. 1 Who Can Vote ................................................................................................................................................................ 1 Voting Your Shares ........................................................................................................................................................ 1 Voting Your Shares by Proxy ....................................................................................................................................... 2 Voting by Non-Registered Shareholders .................................................................................................................... 3 Additional Matters Presented at the Meeting ............................................................................................................. 3 Description of Shares .................................................................................................................................................... 3 MATTERS TO BE ACTED UPON AT THE MEETING ............................................................................................................. 5 Financial Statements ..................................................................................................................................................... 5 Re-appointment of Auditor ............................................................................................................................................ 5 Election of Directors ....................................................................................................................................................... 5 BOARD OF DIRECTORS ............................................................................................................................................................. 7 Director Biographies ...................................................................................................................................................... 7 Cease Trade Orders or Bankruptcies .......................................................................................................................... 9 Penalties or Sanctions ................................................................................................................................................. 10 Conflicts of Interest ...................................................................................................................................................... 10 STATEMENT OF EXECUTIVE COMPENSATION ................................................................................................................. 11 Compensation Discussion and Analysis ................................................................................................................... 11 Summary Compensation Table .................................................................................................................................. 20 Performance Graph ..................................................................................................................................................... 21 Pay For Performance ................................................................................................................................................... 21 Incentive Plan Awards ................................................................................................................................................. 22 Option Plan.................................................................................................................................................................... 22 RSU Plan ....................................................................................................................................................................... 24 Employment Agreements ............................................................................................................................................ 29 Director Compensation ................................................................................................................................................ 32 DSU Plan ....................................................................................................................................................................... 33 Share Ownership .......................................................................................................................................................... 35 Share Ownership Guidelines ...................................................................................................................................... 36 Securities Authorized for Issuance under Equity Compensation Plans ............................................................... 37 STATEMENT OF CORPORATE GOVERNANCE PRACTICES........................................................................................... 37 Board of Directors ........................................................................................................................................................ 37 Code of Business Conduct and Ethics ...................................................................................................................... 40 Position Descriptions ................................................................................................................................................... 40 Board Assessment ....................................................................................................................................................... 42 Committees of the Board ............................................................................................................................................ 42 Composition of Committees ........................................................................................................................................ 42 INTEREST OF INFORMED PERSONS IN MATERIAL TRANSACTIONS ......................................................................... 44 Registration Rights Agreement .................................................................................................................................. 44 Nominating Agreement ................................................................................................................................................ 45 First-Lien Notes and Second-Lien Notes .................................................................................................................
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