Common use of Compensation Options Clause in Contracts

Compensation Options. As additional consideration for the Underwriters’ services in assisting in the preparation and completion of the Offering contemplated by this Agreement and all other matters in connection with the issue and sale of the Units, the Corporation hereby agrees to issue to the Underwriters that number of Compensation Options (the “Compensation Options”) as is equal to 6.0% of the aggregate number of Units sold pursuant to the Offering. Each Compensation Option shall be exercisable, for a period of two years following the Closing Date, to acquire one Common Share (each a “Compensation Share”) at an exercise price per Compensation Share equal to the Offering Price, subject to adjustment in certain events. If the Compensation Options are unavailable for any reason it is agreed that the Corporation shall pay the Underwriters other compensation of comparable value to the Compensation Options. Such other compensation shall be agreed to between the Corporation and the Co-Lead Underwriters, each acting reasonably. The description of the Compensation Options herein is a summary only and is subject to the specific attributes and detailed provisions of the Compensation Options to be set forth in the Compensation Option Certificates. In case of any inconsistency between the description of the Compensation Options in this Agreement and the terms of the Compensation Options as set forth in the Compensation Option Certificates, the provisions of the Compensation Option Certificates shall govern.

Compensation Options. ‌ As additional consideration for the Underwriters’ Underwriter’s services in assisting in the preparation and completion of the Offering contemplated by this Agreement and all other matters in connection with the issue and sale of the Units, the Corporation hereby agrees to issue to the Underwriters Underwriter that number of Compensation Options compensation options (the “Compensation Options”) as is equal to 6.07.0% of the aggregate number of Units sold pursuant to the Offering, including any Units sold pursuant to the exercise of the Over- Allotment Option. Each Compensation Option shall be exercisable, for a period of two years 24 months following the Closing Date, to acquire one Common Share Unit (each each, a “Compensation ShareUnit”) at an exercise price of $5.00 per Compensation Share equal to the Offering PriceUnit, subject to adjustment in certain events. If The Common Shares and Warrants issuable on exercise of the Compensation Options are unavailable for any reason it is agreed that referred to herein as “Compensation Shares” and “Compensation Warrants”, respectively, and the Corporation shall pay Common Shares issuable on exercise of the Underwriters other compensation of comparable value Compensation Warrants are referred to herein as “Compensation Warrant Shares”. For greater certainty, the Compensation Warrants will be subject to the Compensation Options. Such other compensation shall be agreed to between same acceleration provisions as the Corporation and the Co-Lead Underwriters, each acting reasonablyWarrants as set out above. The description of the Compensation Options herein is a summary only and is subject to the specific attributes and detailed provisions of the Compensation Options to be set forth in the Compensation Option Certificates. In case of any inconsistency between the description of the Compensation Options in this Agreement and the terms of the Compensation Options as set forth in the Compensation Option Certificates, the provisions of the Compensation Option Certificates shall govern.

Compensation Options. As additional consideration for the Underwriters’ Underwriter’s services in assisting in the preparation and completion of the Offering contemplated by this Agreement and all other matters in connection with the issue and sale of the Units, the Corporation hereby agrees to issue to the Underwriters Underwriter that number of Compensation Options compensation options (the “Compensation Options”) as is equal to 6.07.0% of the aggregate number of Units sold pursuant to the Offering, including any Units sold pursuant to the exercise of the Over-Allotment Option. Each Compensation Option shall be exercisable, for a period of two years 24 months following the Closing Date, to acquire one Common Share Unit (each each, a “Compensation ShareUnit”) at an exercise price of $5.00 per Compensation Share equal to the Offering PriceUnit, subject to adjustment in certain events. If The Common Shares and Warrants issuable on exercise of the Compensation Options are unavailable for any reason it is agreed that referred to herein as “Compensation Shares” and “Compensation Warrants”, respectively, and the Corporation shall pay Common Shares issuable on exercise of the Underwriters other compensation of comparable value Compensation Warrants are referred to herein as “Compensation Warrant Shares”. For greater certainty, the Compensation Warrants will be subject to the Compensation Options. Such other compensation shall be agreed to between same acceleration provisions as the Corporation and the Co-Lead Underwriters, each acting reasonablyWarrants as set out above. The description of the Compensation Options herein is a summary only and is subject to the specific attributes and detailed provisions of the Compensation Options to be set forth in the Compensation Option Certificates. In case of any inconsistency between the description of the Compensation Options in this Agreement and the terms of the Compensation Options as set forth in the Compensation Option Certificates, the provisions of the Compensation Option Certificates shall govern.