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AMENDED EMPLOYMENT AGREEMENT

Employment Agreement Amendment

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This Employment Agreement Amendment involves

IMAX CORPORATION | Richard L. Gelfond

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Title: AMENDED EMPLOYMENT AGREEMENT
Date: 3/9/2006
Industry: MOVIES     Sector: SERVIC

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                                IMAX CORPORATION
                                  Exhibit 10.14

                          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 is extended until December 31, 2006.

2.    CASH COMPENSATION. The Executive shall be entitled to be paid base salary
      at the rate of $500,000 per year, plus a bonus of up to two times salary.
      Such bonus shall be at the discretion of the Board of Directors and shall
      be based upon the success of the Company in achieving the goals and
      objectives set by the Board after consultation with the Executive. The
      Executive shall be considered for a bonus based upon per

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