Common use of Release Schedule for an Established Issuer Clause in Contracts

Release Schedule for an Established Issuer. (a) Usual case If the Issuer is an established issuer (as defined in section 3.3 of the Policy) and you have not sold any escrow securities in a permitted secondary offering, your escrow securities will be released as follows: On , 2009, the date the Issuer’s securities are listed on a Canadian exchange (the “listing date”) 1/4 of your escrow securities 6 months after the listing date 1/3 of your remaining escrow securities 12 months after the listing date 1/2 of your remaining escrow securities 18 months after the listing date your remaining escrow securities *In the simplest case, where there are no changes to the escrow securities initially deposited and no additional escrow securities, then the release schedule outlined above results in the escrow securities being released in equal tranches of 25%. (b) Alternate meaning of “listing date” If the Issuer is an established issuer, an alternate meaning for listing date is the date the Issuer completes its IPO if the Issuer’s securities are listed on a Canadian exchange immediately before its IPO. (c) If there is a permitted secondary offering (i) If the Issuer is an established issuer and you have sold in a permitted secondary offering 25% or more of your escrow securities, your escrow securities will be released as follows: For delivery to complete the IPO All escrow securities sold by you in the permitted secondary offering 6 months after the listing date 1/3 of your remaining escrow securities 12 months after the listing date 1/2 of your remaining escrow securities 18 months after the listing date your remaining escrow securities *In the simplest case, where there are no changes to the remaining escrow securities upon completion of the permitted secondary offering and no additional escrow securities, the release schedule outlined above results in the remaining escrow securities being released in equal tranches of 331/3%. (d) If the Issuer is an established issuer and you have sold in a permitted secondary offering less than 25% of your escrow securities, your escrow securities will be released as follows: For delivery to complete the IPO All escrow securities sold by you in the permitted secondary offering On the listing date 1/4 of your original number of escrow securities less the escrow securities sold by you in the permitted secondary offering 6 months after the listing date 1/3 of your remaining escrow securities 12 months after the listing date 1/2 of your remaining escrow securities 18 months after the listing date your remaining escrow securities *In the simplest case, where there are no changes to the remaining escrow securities upon completion of the permitted secondary offering and no additional escrow securities, the release schedule outlined above results in the remaining escrow securities being released in equal tranches of 331/3% after completion of the release on the listing date.

Release Schedule for an Established Issuer. (a) 2.1.1 Usual case If the Issuer is an established issuer (as defined in section 3.3 of the Policy) and you have not sold any escrow securities in a permitted secondary offering, your escrow securities will be released as follows: On , 2009, the date the Issuer’s securities are listed on a Canadian exchange (the “listing date”) 1/4 of your escrow securities 6 months after the listing date 1/3 of your remaining escrow securities 12 months after the listing date 1/2 of your remaining escrow securities 18 months after the listing date your remaining escrow securities *In the simplest case, where there are no changes to the escrow securities initially deposited and no additional escrow securities, then the release schedule outlined above results in the escrow securities being released in equal tranches of 25%. (b) 2.1.2 Alternate meaning of “listing date” If the Issuer is an established issuer, an alternate meaning for listing date is the date the Issuer completes its IPO if the Issuer’s securities are listed on a Canadian exchange immediately before its IPO. (c) 2.1.3 If there is a permitted secondary offering (ia) If the Issuer is an established issuer and you have sold in a permitted secondary offering 25% or more of your escrow securities, your escrow securities will be released as follows: For delivery to complete the IPO All escrow securities sold by you in the permitted secondary offering 6 months after the listing date 1/3 of your remaining escrow securities 12 months after the listing date 1/2 of your remaining escrow securities 18 months after the listing date your remaining escrow securities *In the simplest case, where there are no changes to the remaining escrow securities upon completion of the permitted secondary offering and no additional escrow securities, the release schedule outlined above results in the remaining escrow securities being released in equal tranches of 331/333 1/3%. (db) If the Issuer is an established issuer and you have sold in a permitted secondary offering less than 25% of your escrow securities, your escrow securities will be released as follows: For delivery to complete the IPO All escrow securities sold by you in the permitted secondary offering On the listing date 1/4 of your original number of escrow securities less the escrow securities sold by you in the permitted secondary offering 6 months after the listing date 1/3 of your remaining escrow securities 12 months after the listing date 1/2 of your remaining escrow securities 18 months after the listing date your remaining escrow securities *In the simplest case, where there are no changes to the remaining escrow securities upon completion of the permitted secondary offering and no additional escrow securities, the release schedule outlined above results in the remaining escrow securities being released in equal tranches of 331/333 1/3% after completion of the release on the listing date.

Release Schedule for an Established Issuer. (a) Usual case If the Issuer is an established issuer (as defined in section 3.3 of the Policy) and you have not sold any escrow securities in a permitted secondary offering, your escrow securities will be released as follows: On , 20092008, the date the Issuer’s 's securities are listed on a Canadian exchange (the “"listing date”") 1/4 of your escrow securities 6 months after the listing date 1/3 of your remaining escrow securities 12 months after the listing date 1/2 of your remaining escrow securities 18 months after the listing date your remaining escrow securities *In the simplest case, where there are no changes to the escrow securities initially deposited and no additional escrow securities, then the release schedule outlined above results in the escrow securities being released in equal tranches of 25%. (b) Alternate meaning of “"listing date” " If the Issuer is an established issuer, an alternate meaning for listing date is the date the Issuer completes its IPO if the Issuer’s 's securities are listed on a Canadian exchange immediately before its IPO. (c) If there is a permitted secondary offering (i) If the Issuer is an established issuer and you have sold in a permitted secondary offering 25% or more of your escrow securities, your escrow securities will be released as follows: For delivery to complete the IPO All escrow securities sold by you in the permitted secondary offering 6 months after the listing date 1/3 of your remaining escrow securities 12 months after the listing date 1/2 of your remaining escrow securities 18 months after the listing date your remaining escrow securities *In the simplest case, where there are no changes to the remaining escrow securities upon completion of the permitted secondary offering and no additional escrow securities, the release schedule outlined above results in the remaining escrow securities being released in equal tranches of 331/3%. (d) If the Issuer is an established issuer and you have sold in a permitted secondary offering less than 25% of your escrow securities, your escrow securities will be released as follows: For delivery to complete the IPO All escrow securities sold by you in the permitted secondary offering On the listing date 1/4 of your original number of escrow securities less the escrow securities sold by you in the permitted secondary offering 6 months after the listing date 1/3 of your remaining escrow securities 12 months after the listing date 1/2 of your remaining escrow securities 18 months after the listing date your remaining escrow securities *In the simplest case, where there are no changes to the remaining escrow securities upon completion of the permitted secondary offering and no additional escrow securities, the release schedule outlined above results in the remaining escrow securities being released in equal tranches of 331/3% after completion of the release on the listing date.