STOCK OPTION AGREEMENT
Exhibit 10.8
This Stock Option Agreement is dated this ___ day
of __________, 20___ between Planet 13 Holdings Inc. (the
“Corporation”) and [Name] (the “Optionee”).
WHEREAS the Optionee has been granted certain options (“Options”) to acquire common shares in the capital
of the Corporation(“Common
Shares”) under the Planet
13 2018 Stock Option Plan (the “Option Plan”), a copy of which has been provided to the
Eligible Optionee;
AND WHEREAS capitalized terms used herein and not otherwise
defined shall have the meanings given to them in the Option
Plan;
NOW THEREFORE
for good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the
parties agree as follows:
1.
The Corporation
confirms that the Optionee has been granted Options under the
Option Plan on the following basis, subject to, the terms and
conditions of the Option Plan:
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DATE OF GRANT
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NUMBER OF OPTIONS
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EXERCISE PRICE (CDN$)
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VESTING SCHEDULE
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EXPIRY DATE
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[___]
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[___]
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[___]
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[___]
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[___]
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1.
Attached to this
Agreement as Schedule “A” is a form of notice that the
Optionee may use to exercise any of his or her Options in
accordance with Section 2.1(d) of the Option Plan at any time and
from time to time prior the Expiry Date of such
Options.
2.
By signing this
Stock Option Agreement, the Optionee acknowledges that he or she
has read and understands the Option Plan and agrees to the terms
and conditions thereof and of this Stock Option
Agreement.
3.
This Agreement
shall be governed by the laws of the Province of Ontario and the
federal laws of Canada applicable therein. Time shall be of the
essence of this Agreement. This Agreement shall enure to the
benefit of and shall be binding upon the parties and their heirs,
attorneys, guardians, estate trustees, executors, trustees and
administrators and the successors of the Corporation.
IN WITNESS WHEREOF
the parties hereto have executed this
Agreement.
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PLANET 13 HOLDINGS INC. |
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| Name of Optionee: |
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Authorized Signing Officer |
ELECTION TO EXERCISE STOCK OPTIONS
TO: PLANET 13 HOLDINGS
INC. (THE
“CORPORATION”)
The
undersigned option holder hereby irrevocably elects to exercise
options (“Options”) granted by the
Corporation to the undersigned pursuant to a Stock Option Agreement
dated __________, 20___ for the number of common shares in the
capital of the Corporation (“Common Shares”) as set forth
below:
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Number
of Common Shares to be Acquired:
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Option
Exercise Price (per Common Share):
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$
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Aggregate
Purchase Price:
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$
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Amount
enclosed that is payable on account of withholding of tax or other
required deductions relating to the exercise of the Options
(contact the Corporation for details of such amount)(the
“Applicable Withholdings and
Deductions”):
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$
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□
Or check here if alternative arrangements have been made with the
Corporation with respect to the payment of Applicable Withholdings
and Deductions;
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and
hereby tenders a certified cheque or bank draft for such Aggregate
Purchase Price, and, if applicable, Applicable Withholdings and
Deductions, and directs such Common Shares to be registered and a
certificate therefore to be issued in the name of
______________________________________________.
DATED this ____ day of __________________,
______.
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Signature
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Name
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