These amendments are intended to bring the Option Plan in line with current governance best practices and align the Option Plan with Institutional Shareholder Services requirements.
The provisions addressing amendments to the Option Plan will be modified: (i) to ensure that without prior shareholder approval, the Board of Directors of the Company cannot increase the limits for participation imposed on non-employee directors provided for in the Option Plan; and (ii) ensure that the amendment provisions contained in the Option Plan cannot be amended to increase the ability of the Board of Directors of the Company to amend the Option Plan without shareholder approval.
These supplemental amendments to the Option Plan will be effective if the proposed changes to the Option Plan described in the Management Information Circular of the Company dated May 25, 2020 are approved by shareholders at the Meeting. Following the Meeting, a copy of the Option Plan will be filed on SEDAR at www.sedar.com and may also be obtained by contacting the Company as specified below.
