Common use of Exercise Price and Duration Clause in Contracts

Exercise Price and Duration. The Options shall be exercisable until 4:00 p.m. (Vancouver time) on that day (the "Expiration Date") that is ________ years following the Date of Grant, at an exercise price of US$______ per share; provided that in accordance with Section 5.1(d) of the Plan: the Expiration Date of any Incentive Stock Option granted to a greater than ten percent (> 10%) shareholder of the Company shall not be later than five (5) years from the Date of Grant); so long as the Company's Common Stock is traded on a Designated Exchange (as defined in the Plan), all Options granted pursuant to the Plan shall expire not later than five (5) years from the Date of Grant; and if the Common Shares are not traded on a Designated Exchange and in the absence of action to the contrary by the Plan Administrator (as defined in the Plan) in connection with the grant of a particular Option, and except in the case of Incentive Stock Options as described above, all Options granted under the Plan shall expire not later than ten (10) years from the Date of Grant.

Exercise Price and Duration. The Options shall be exercisable until 4:00 p.m. (Vancouver timePacific Standard Time) on that day (the "Expiration Date") that is ________ three years following the Date of Grant, at an exercise price of US$______ 0.20 per share; provided that in accordance with Section 5.1(d) of the Plan: a. the Expiration Date of any Incentive Stock Option granted to a greater than ten percent (> 10%) shareholder of the Company shall not be later than five three (53) years from the Date of Grant); b. so long as the Company's Common Stock is traded on a Designated Exchange (as defined in the Plan), all Options granted pursuant to the Plan shall expire not later than five three (53) years from the Date of Grant; and c. if the Common Shares are not traded on a Designated Exchange and in the absence of action to the contrary by the Plan Administrator (as defined in the Plan) in connection with the grant of a particular Option, and except in the case of Incentive Stock Options as described above, all Options granted under the Plan shall expire not later than ten (10) years from the Date of Grant. 2.