<SEC-DOCUMENT>0001137171-18-000081.txt : 20180622
<SEC-HEADER>0001137171-18-000081.hdr.sgml : 20180622
<ACCEPTANCE-DATETIME>20180622124056
ACCESSION NUMBER:		0001137171-18-000081
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180622
FILED AS OF DATE:		20180622
DATE AS OF CHANGE:		20180622

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ELDORADO GOLD CORP /FI
		CENTRAL INDEX KEY:			0000918608
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31522
		FILM NUMBER:		18913963

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 1188 - BENTALL 5
		STREET 2:		550 BURRARD STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2B5
		BUSINESS PHONE:		(604) 687-4018

	MAIL ADDRESS:	
		STREET 1:		SUITE 1188 - BENTALL 5
		STREET 2:		550 BURRARD STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2B5

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ELDORADO CORP LTD                                       /FI
		DATE OF NAME CHANGE:	19960701

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ELDORADO GOLD CORP                                      /FI
		DATE OF NAME CHANGE:	19940203
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>eldorado6k06222018.htm
<DESCRIPTION>ELDORADO GOLD CORPORATION - 6-K
<TEXT>
<html>
<head>
     <title>JA Filed by Filing Services Canada Inc. 403-717-3898</title>
     <meta name="GENERATOR" content="Microsoft FrontPage 4.0">
     <meta name="ProgId" content="FrontPage.Editor.Document">
</head>
<body>

<p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center">&nbsp;</p>

<p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>FORM
6-K</b></p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt" align="center"><br>
</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center">UNITED
STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
Washington, D.C. 20549</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>Report
of Foreign Private Issuer</b></p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>Pursuant
to Rule 13a-16 or 15d-16<br>
of the Securities Exchange Act of 1934</b></p>
<p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 12pt Times New Roman"><br>
</p>
<p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 12pt/14pt Times New Roman">For the month of
June, 2018</p>
<p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 12pt Times New Roman">&nbsp;
</p>
<p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 12pt/14pt Times New Roman">Commission
File Number &nbsp;<b>001-31522</b></p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
</p>
<table style="font-size:10pt" cellspacing="0" align="center">
  <tr>
    <td width="640">
      <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>Eldorado
      Gold Corporation<br>
      </b>(Translation of registrant's name into English)</p>
    </td>
  </tr>
  <tr>
    <td width="640">
      <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b><br>
      1188-550
      Burrard Street</b></p>
      <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>Bentall
      5</b></p>
      <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>Vancouver,
      B.C.</b></p>
      <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>Canada
      &nbsp;V6C 2B5<br>
      </b>(Address of principal executive offices)<br>
      </p>
    </td>
  </tr>
</table>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center">Form
20-F....[<b> &nbsp;&nbsp;</b>]..... Form 40-F...[.<b>X</b>.]...</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ____</p>
<p style="margin-top:5pt; margin-bottom:5pt; padding-left:36pt; font-family:Times New Roman"><b>Note:
</b>Regulation&nbsp;S-T Rule&nbsp;101(b)(1) only permits the submission in paper
of a Form&nbsp;6-K if submitted solely to provide an attached annual report to
security holders.</p>

<p style="margin-top: 5pt; margin-bottom: 5pt; padding-left: 36pt; font-family: Times New Roman">&nbsp;</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): ____</p>
<p style="margin-top:5pt; margin-bottom:5pt; padding-left:36pt; font-family:Times New Roman"><b>Note:
</b>Regulation&nbsp;S-T Rule&nbsp;101(b)(7) only permits the submission in paper
of a Form&nbsp;6-K if submitted to furnish a report or other document that the
registrant foreign private issuer must furnish and make public under the laws of
the jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrant's &quot;home country&quot;), or under the rules of the
home country exchange on which the registrant's securities are traded, as long
as the report or other document is not a press release, is not required to be
and has not been distributed to the registrant's security holders, and, if
discussing a material event, has already been the subject of a Form&nbsp;6-K
submission or other Commission filing on EDGAR.</p>

<p style="margin-top: 5pt; margin-bottom: 5pt; padding-left: 36pt; font-family: Times New Roman">&nbsp;</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Indicate
by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center">Yes
&nbsp;[ &nbsp;&nbsp;&nbsp;] &nbsp;No [ <b>X </b>]</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">If
&quot;Yes&quot; is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- ________</p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</p>
<p style="page-break-before:always; margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
</p>
<hr>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
</p>
<br>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>Signatures</b></p>
<p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.</p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
</p>
<div align="center">
  <center>
  <table style="font-size:10pt" cellspacing="0" width="100%">
    <tr>
      <td valign="top" width="319.2">
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
        </p>
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
        </p>
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</p>
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
        </p>
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
        </p>
        <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Date:&nbsp;June
        22, 2018</p>
      </td>
      <td valign="top" width="319.2">
        <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><b>ELDORADO
        GOLD CORPORATION</b></p>
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
        </p>
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
        </p>
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
<u>/s/ Karen Aram</u><br>
<br>
</p>
        <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Karen
        Aram, Corporate Secretary</p>
      </td>
    </tr>
  </table>
  </center>
</div>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt"></p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</p>
<p style="font-family: Times New Roman; font-size: 12pt; margin: 0pt">Exhibits</p>
<p style="font-family: Times New Roman; font-size: 12pt; margin: 0pt">&nbsp;</p>
<p style="font-family: Times New Roman; font-size: 12pt; margin: 0pt">99.1&nbsp;&nbsp;&nbsp;<a href="plan.htm">Eldorado Gold Incentive Stock Option Plan &ndash; June 2018</a></a></p>

<p style="font-family: Times New Roman; font-size: 12pt; margin: 0pt">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 12pt; margin: 0pt"></p>

<p style="font-family: Times New Roman; font-size: 12pt; margin: 0pt">&nbsp;</p>
<hr>

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>plan.htm
<DESCRIPTION>ELDORADO GOLD INCENTIVE STOCK OPTION PLAN - JUNE 2018
<TEXT>
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<HEAD>
     <TITLE></TITLE>
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<P STYLE="margin: 0"></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">ELDORADO GOLD
CORPORATION</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">INCENTIVE
STOCK OPTION PLAN</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">Effective as of June 21, 2018</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0cm">1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Purposes of the Plan</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">1.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The purposes of this Plan are to (a) assist the Company in attracting, retaining and motivating senior officers, employees
and consultants of the Company and of its related entities; and (b) closely align the personal interests of such officers, employees
and consultants with those of the shareholders by providing them with the opportunity, through options, to acquire common shares
in the capital of the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0cm">2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Definitions</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">2.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For the purposes of the Plan, the following terms have the respective meanings set forth below:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">&#8220;<B>Black-Out Period</B>&#8221; means that period during which a trading black-out period
is imposed by the Company to restrict trades in the Company&#8217;s securities by an Eligible Person;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">&#8220;<B>Board</B>&#8221; means the board of directors of the Company;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify">&#8220;<B>Business Combination</B>&#8221; has the meaning ascribed to the term in Subsection 10.7
hereof;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify">&#8220;<B>Cause</B>&#8221; means any act, which at common law in the applicable jurisdiction, would
be considered cause for dismissal without the obligation to provide notice or pay in lieu of notice;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(e)</TD><TD STYLE="text-align: justify">&#8220;<B>Change of Control</B>&#8221; means:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 36pt">(i)</TD><TD STYLE="text-align: justify">an acquisition of 40% or more<B> </B>of the voting rights attached to all outstanding voting shares
of the Company by a person or combination of persons acting in concert by virtue of an agreement, arrangement, commitment or understanding,
or by virtue of a related series of such events, and whether by transfer of existing shares or by issuance of shares from treasury
or both; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 36pt">(ii)</TD><TD STYLE="text-align: justify">the amalgamation, consolidation or combination of the Company with, or merger of the Company into,
any other person, whether by way of amalgamation, arrangement or otherwise, unless (1) the Company is the surviving person or the
person formed by such amalgamation, consolidation or combination, or into which the Company has merged, is a corporation and (2)
immediately after giving effect to such transaction at least 60% of the voting rights attached to all outstanding voting shares
of the Company or the corporation
resulting from such amalgamation, consolidation or combination, or into which the Company is merged, as the case may be are owned
by persons who held the voting rights attached to all outstanding voting shares of the Company immediately before giving effect
to such transaction; or</TD></TR></TABLE>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0 108pt; text-align: justify"></P>

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<TD STYLE="width: 72pt"></TD><TD STYLE="width: 36pt">(iii)</TD><TD STYLE="text-align: justify">the direct or indirect transfer, conveyance, sale, lease or other disposition, by virtue of a single
event or a related series of such events, of 90% or more of the assets of the Company based on gross fair market value to any person
unless (1) such disposition is to a corporation and (2) immediately after giving effect to such disposition, at least 60% of the
voting rights attached to all outstanding voting shares of such corporation are owned by the Company or its related entities or
by persons who held the voting rights attached to all outstanding voting shares of the Company immediately before giving effect
to such disposition; or</TD></TR></TABLE>

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<TD STYLE="width: 72pt"></TD><TD STYLE="width: 36pt">(iv)</TD><TD STYLE="text-align: justify">at least 50% of the directors constituting the Board cease to be directors as a result of, in connection
with, or pursuant to a contract relating to (a) a Change of Control as defined in paragraphs (i), (ii) or (iii), or (b) an actual
or threatened contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies
by or on behalf of a person or persons (other than a solicitation that was approved by directors constituting a majority of the
Board);</TD></TR></TABLE>

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<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(f)</TD><TD STYLE="text-align: justify">&#8220;<B>Company</B>&#8221; means Eldorado Gold Corporation;</TD></TR></TABLE>

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<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(g)</TD><TD STYLE="text-align: justify">&#8220;<B>Compensation Committee</B>&#8221; means the compensation committee of the Board and if
there is none, means the full Board;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(h)</TD><TD STYLE="text-align: justify">&#8220;<B>Consultant</B>&#8221; has the same meaning ascribed to that term under Section 2.22 of
NI&nbsp;45-106 and shall only include those persons who may participate in an &#8220;Employee Benefit Plan&#8221; as set forth
in Rule 405 of the U.S. Securities Act;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(i)</TD><TD STYLE="text-align: justify">&#8220;<B>Eligible Person</B>&#8221; means, from time to time, a full-time or part-time employee
of the Company or of a related entity of the Company, including any officer of the Company, a Consultant of the Company or of a
related entity of the Company;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(j)</TD><TD STYLE="text-align: justify">&#8220;<B>Exchange</B>&#8221; means, if the Shares are listed on the TSX, the TSX and, if the Shares
are not listed on the TSX, any other principal exchange upon which the Shares are listed;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(k)</TD><TD STYLE="text-align: justify">&#8220;<B>Executive Officer</B>&#8221; means an executive officer of the Company appointed as such
by a resolution of the Board;</TD></TR></TABLE>

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<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(l)</TD><TD STYLE="text-align: justify">&#8220;<B>Grant Date</B>&#8221; has the meaning ascribed to that term in Subsection 5.1 hereof;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(m)</TD><TD STYLE="text-align: justify">&#8220;<B>Insider</B>&#8221; means a reporting insider as defined under National Instrument 55-104
&#8211; <I>Insider Reporting Requirements and Exemptions</I>;</TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(n)</TD><TD STYLE="text-align: justify">&#8220;<B>Market Value</B>&#8221; of a Share means, on any given day, the closing trading price
per share of the Shares on the Exchange on the trading day immediately preceding the relevant date;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(o)</TD><TD STYLE="text-align: justify">&#8220;<B>NI&nbsp;45-106</B>&#8221; means National Instrument 45-106 &#8211; <I>Prospectus and
Registration Exemptions</I>;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(p)</TD><TD STYLE="text-align: justify">&#8220;<B>Option</B>&#8221; means an option, granted pursuant to Section 5 hereof, to purchase
a Share;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(q)</TD><TD STYLE="text-align: justify">&#8220;<B>Option Agreement</B>&#8221; has the meaning ascribed to that term in Section 7 hereof;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(r)</TD><TD STYLE="text-align: justify">&#8220;<B>Option Period</B>&#8221; has the meaning ascribed to that term in Subsection 6.3 hereof;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(s)</TD><TD STYLE="text-align: justify">&#8220;<B>Option Price</B>&#8221; means the price per Share at which Shares may be purchased under
the Option, as determined pursuant to Paragraph 5.1(b) hereof and as may be adjusted in accordance with Section 10 hereof;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(t)</TD><TD STYLE="text-align: justify">&#8220;<B>Optionee</B>&#8221; means an Eligible Person to whom an Option has been granted;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(u)</TD><TD STYLE="text-align: justify">&#8220;<B>Plan</B>&#8221; means the Incentive Stock Option Plan of the Company as set forth herein
as the same may be amended and/or restated from time to time;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(v)</TD><TD STYLE="text-align: justify">&#8220;<B>related entity</B>&#8221; has the meaning ascribed to that term in Section 2.22 of NI&nbsp;45&#45;106;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(w)</TD><TD STYLE="text-align: justify">&#8220;<B>Securities Regulators</B>&#8221; has the meaning ascribed to that term in Section 11
hereof;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(x)</TD><TD STYLE="text-align: justify">&#8220;<B>security based compensation arrangement</B>&#8221; means</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 36pt">(i)</TD><TD STYLE="text-align: justify">stock option plans of the Company for the benefit of employees, insiders, service providers or
any one of such groups;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 36pt">(ii)</TD><TD STYLE="text-align: justify">individual stock options granted to employees, service providers or insiders if not granted pursuant
to a plan previously approved by the Company&#8217;s shareholders;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 36pt">(iii)</TD><TD STYLE="text-align: justify">stock purchase plans where the Company provides financial assistance or where the Company matches
the whole or a portion of the securities being purchased;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 36pt">(iv)</TD><TD STYLE="text-align: justify">stock appreciation rights involving issuances of securities from treasury of the Company;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 36pt">(v)</TD><TD STYLE="text-align: justify">any other compensation or incentive mechanism involving the issuance or potential issuances of
securities from treasury of the Company; and</TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 36pt">(vi)</TD><TD STYLE="text-align: justify">security purchases from treasury by an employee, insider or service provider which is financially
assisted by the Company by any means whatsoever,</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0 72pt; text-align: justify">and for greater certainty, arrangements
which do not involve the issuance from treasury or potential issuance from treasury of the Company are not security based compensation
arrangements;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(y)</TD><TD STYLE="text-align: justify">&#8220;<B>Share</B>&#8221; means, subject to Section 10 hereof, a Common share without nominal
or par value in the capital of the Company;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(z)</TD><TD STYLE="text-align: justify">&#8220;<B>Shareholder</B>&#8221; means a registered holder of Shares<B> </B>of the Company;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(aa)</TD><TD STYLE="text-align: justify">&#8220;<B>Take-Over Bid</B>&#8221; has the meaning ascribed to the term in Subsection 10.6 hereof;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(bb)</TD><TD STYLE="text-align: justify">&#8220;<B>Trading Day</B>&#8221; means any day on which the Exchange is open for trading of Shares
provided that if the Shares are no longer listed on any stock exchange, means any day which is a business day in British Columbia;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(cc)</TD><TD STYLE="text-align: justify">&#8220;<B>TSX</B>&#8221; means the Toronto Stock Exchange; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(dd)</TD><TD STYLE="text-align: justify">&#8220;<B>U.S. Securities Act</B>&#8221; means the United States Securities Act of 1933, as amended.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">2.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Unless otherwise indicated, all dollar amounts referred to in this Plan are in Canadian funds.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">2.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>As used in this Plan,</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">unless the context otherwise requires, words importing the masculine gender shall include the feminine
and neuter genders, words importing the singular shall include the plural and vice versa;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">unless the context otherwise requires, the expressions &#8220;<B>herein</B>&#8221;, &#8220;<B>hereto</B>&#8221;,
&#8220;<B>hereof</B>&#8221;,&#8221; <B>hereunder</B>&#8221; or other similar terms refer to the Plan as a whole, together with
the appendices and schedules, and references to a Section, Subsection, paragraph, Appendix or Schedule by number or letter or both
refer to the Section, Subsection, paragraph, Appendix or Schedule, respectively, bearing that designation in the Plan; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify">the term &#8220;<B>include</B>&#8221; (or words of similar import) is not limiting whether or not
non-limiting language (such as &#8220;<B>without limitation</B>&#8221; or words of similar import) is used with reference thereto.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0cm">3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Administration of the Plan</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">3.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Plan shall be administered by the Compensation Committee.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0; text-align: left">3.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Compensation Committee shall, periodically, after consulting with the Executive Officers, make grants to such Employees
and Consultants who are not Executive Officers as it determines and report to the Board as to such grants of Options.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">3.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Chief Executive Officer of the Company shall periodically make recommendations to the Compensation Committee as to the
grant of Options to Executive Officers. The Compensation Committee shall, periodically, after considering the Chief Executive Officer&#8217;s
recommendations, make recommendations to the Board as to the grant of options to Executive Officers. For greater certainty, the
Compensation Committee shall not have the power to make grants of options to Executive Officers unless explicitly delegated the
power to do so by the full Board.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">3.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In addition to the powers granted to the Board under the Plan and subject to the terms of the Plan, the Board shall have
full and complete authority to grant Options, to interpret the Plan, to prescribe such rules and regulations as it deems necessary
for the proper administration of the Plan and to make such determinations and to take such actions in connection therewith as it
deems necessary or advisable. Any such interpretation, rule, determination or other act of the Board shall be conclusively binding
upon all persons.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">3.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Board may delegate any or all of its authority, rights, powers and discretion with respect to the Plan to the Compensation
Committee. Upon any such delegation the Compensation Committee as well as the Board, shall be entitled to exercise any or all such
authority, rights, power and discretion with respect to the Plan and when used in the context of this Plan &#8220;Board&#8221;
shall be deemed to include the Compensation Committee.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">3.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Board may authorize one or more officers of the Company to execute and deliver and to receive documents on behalf of
the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0cm">4.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Shares Subject to the Plan</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">4.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Effective June 21, 2018, the maximum number of Shares which may be issued under the Plan from and after June 21, 2018 shall
not exceed 47,924,118 Shares, subject to adjustment as provided in Section&nbsp;10.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">4.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In no event shall Options be granted entitling any one Optionee to purchase in excess of one half of one percent (0.5%)
of the issued and outstanding Shares on a non-diluted basis on the Grant Date of the Options.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">4.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No Options may be granted to non-employee directors of the Company or a related entity of the Company under this Plan.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">4.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding anything in this Plan to the contrary:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">the maximum number of Shares issuable pursuant to Options granted under the Plan to Insiders, together
with the number of Shares issuable to Insiders pursuant to Options granted under any other security based compensation arrangements,
shall not exceed 9% of the Shares issued and outstanding on a non-diluted basis at the Grant Date of the Options; and</TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">within any one-year period, the maximum number of Shares issued pursuant to Options granted under
the Plan to Insiders, together with the number of Shares issued to Insiders pursuant to Options granted under any other security
based compensation arrangements, shall not exceed 9% of the Shares issued and outstanding on a non-diluted basis.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Any entitlement to acquire Shares granted
pursuant to the Plan or otherwise prior to the grantee becoming an Insider shall be excluded for the purpose of the limits set
out above.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">4.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Options may be granted in respect of authorized and unissued Shares. Shares in respect of which Options have expired, cancelled
or otherwise terminated for any reason (other than exercise of the Options) shall be available for subsequent Options under the
Plan.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">4.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No fractional Shares may be purchased or issued under the Plan.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0cm">5.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Grants of Options</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">5.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to the provisions of the Plan, the Board shall, in its sole discretion and from time to time, determine those Eligible
Persons to whom Options shall be granted and the date on which such Options are to be granted (the &#8220;<B>Grant Date</B>&#8221;).
The Board shall also determine, in its sole discretion, in connection with each grant of Options:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">the number of Options to be granted;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">the Option Price applicable to each Option, provided that the Option Price shall not be less than
the Market Value per Share on the Grant Date; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify">the other terms and conditions (which need not be identical and which, without limitation, may
include non-competition provisions) of all Options covered by any grant.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0cm">6.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Eligibility, Vesting and Terms of Options</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">6.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Options may be granted to Eligible Persons only.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">6.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to the adjustments provided for in Section 10 hereof, each Option shall entitle the Optionee to purchase one Share.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">6.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The option period (the &#8220;<B>Option Period</B>&#8221;) of each Option commences on the Grant Date and expires no later
than at 4:30 p.m. Vancouver time on the fifth anniversary of the Grant Date. If an Option expires during a Black-Out Period, then,
notwithstanding any other provision of the Plan, the Option shall expire 10 business days after the Black-Out Period is lifted
by the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">6.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Without
restricting the authority of the Board in respect of the terms of Options to be granted hereunder, the Board may at its
discretion, in respect of any such Option, provide that the right to exercise such Option will vest in instalments over the
life of the Option or on the achievement of performance vesting targets determined by the Board at its discretion, with the Option being fully-exercisable only
when such required time period or periods have elapsed or the performance targets have been met as determined by the Board in its
sole discretion, as the case may be, and in connection therewith determine the terms under which vesting of the Options may be
accelerated.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">6.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any Optionee whose employment or engagement is terminated:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">by the Company or a related entity of the Company, as applicable, for any reason other than for
Cause or in the case of a Consultant, breach of contract, at any time in the 12&nbsp;months following a Change of Control of the
Company, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">by the Optionee, if the Company or a related entity of the Company, as applicable, makes a material
adverse change in the location, salary, duties or responsibilities assigned to the Optionee, at any time in the 12 months following
a Change of Control of the Company and the Optionee has provided notice in writing to the Company within 30 days of such material
adverse change to terminate employment or engagement,</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">then any outstanding Options that have
not yet vested on the date of termination shall be deemed to have vested on such date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">6.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to Section 8, an Option which is not subject to vesting, may be exercised (in each case rounded down to the nearest
full Share) at any time during the Option Period. Subject to Section 8, an Option which is subject to vesting, may once vested
in accordance with the vesting terms, be exercised (in each case rounded down to the nearest full Share) at any time during the
Option Period.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">6.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>An Option is personal to the Optionee and is non-assignable and non-transferable otherwise than by will or by the laws governing
the devolution of property in the event of death of the Optionee.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0cm">7.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Option Agreement</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">7.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Upon the grant of an Option, the Company and the Optionee shall enter into an option agreement, in a form set out in Appendix
A or in such form as approved by the Board (the &#8220;<B>Option Agreement</B>&#8221;), subject to the terms and conditions of
the Plan, which agreement shall set out the Optionee&#8217;s agreement that the Options are subject to the terms and conditions
set forth in the Plan as it may be amended or replaced from time to time, the Grant Date, the name of the Optionee, the Optionee&#8217;s
position with or relationship to the Company or a related entity of the Company, as applicable, the number of Options, the Option
Price, the expiry date of the Option Period and any vesting or other terms and conditions as the Board may deem appropriate.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0cm">8.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination of Employment, Engagement or Directorship</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">8.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>With respect to Optionees that are Executive Officers:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">in the event such Optionee&#8217;s employment or engagement terminates for any reason other than
death or for Cause, the Optionee may exercise any Option granted hereunder to the extent
such Option was exercisable and had vested on the date of termination no later than <FONT STYLE="color: windowtext">365 </FONT>days
after such termination or such later date within the Option Period first established by the Board for such Option as the Board
may fix; provided, however, that in no event shall any Option be exercisable following the expiration of the Option Period applicable
thereto; and</TD></TR></TABLE>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0 72pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">in the event such Optionee&#8217;s employment or engagement is terminated for Cause, each Option
held by the Optionee that has not been effectively exercised prior to such termination shall lapse and become null and void immediately
upon such termination.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">8.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>With respect to Optionees that are not Executive Officers:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">in the event such Optionee&#8217;s employment or engagement terminates for any reason other than
death or for Cause, the Optionee may exercise any Option granted hereunder to the extent such Option was exercisable and had vested
on the date of termination no later than <FONT STYLE="color: windowtext">30 </FONT>days after such termination or such later date
within the Option Period first established by the Board for such Option as the Board may fix; provided, however, that in no event
shall any Option be exercisable following the expiration of the Option Period applicable thereto; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">in the event such Optionee&#8217;s employment or engagement is terminated for Cause, each Option
held by the Optionee that has not been effectively exercised prior to such termination shall lapse and become null and void immediately
upon such termination.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">8.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event of the death of an Optionee, either while in the employment or engagement of the Company, the Optionee&#8217;s
estate may, within 365 days from the date of the Optionee&#8217;s death, exercise any Option granted hereunder to the extent such
Option was exercisable and had vested on the date of the Optionee&#8217;s death; provided, however, that no Option shall be exercisable
following the expiration of the Option Period applicable thereto. The Optionee&#8217;s estate shall include only the executors
or administrators of such estate and persons who have acquired the right to exercise such Option directly from the Optionee by
bequest or inheritance.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">8.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Board may also in its sole discretion increase the periods permitted to exercise all or any of the Options covered by
any Grant following a termination of employment or engagement as provided in Subsections 8.1, 8.2 or 8.3 above, if allowable under
applicable law; provided, however, that in no event shall any Option be exercisable following the expiration of the Option Period
applicable thereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">8.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Plan shall not confer upon any Optionee any right with respect to a continuation of employment or engagement of, the
Company or a related entity of the Company nor shall it interfere in any way with the right of the Company or a related entity
of the Company to terminate any Optionee&#8217;s employment or engagement at any time.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">8.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Unless otherwise agreed to in writing by the Board in accordance with this Section, any reference to &#8220;<B>termination</B>&#8221;,
&#8220;<B>date of termination</B>&#8221; or similar references in the Plan:</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">in the case of an employee, is deemed to be the last day of active employment with the Company
or its related entity, as applicable, regardless of any salary continuance or notice period provided or required under applicable
law or the reason for termination of employment (whether with or without Cause or with or without notice); and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">in the case of a Consultant, is deemed to be to the date that the relevant agreement pursuant to
which the Consultant is engaged by the Company or any related entity of the Company, as applicable it terminated;</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It being understood that any such reference
means termination from the last position that the Eligible Person had with the Company or any related entity of the Company, as
applicable (whether Options were granted under this Plan or any previous equity incentive plan).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">8.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For greater certainty (and subject to Subsections 6.5 and 8.6), an Option that has not become vested on the date that the
relevant termination event referred to in this Section&nbsp;8 occurred, shall not be or become exercisable and shall be cancelled.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">8.7&#9;If the date pursuant to which
any Option would cease to be exercisable pursuant to Subsections 8.1, 8.2 or 8.3, in respect of the termination, other than for
Cause, of any Eligible Person, occurs during a Black-Out Period, then, notwithstanding any other provision of the Plan, the Option
shall continue to be exercisable on or before the date that is 10 business days after the Black-Out Period is lifted by the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0cm">9.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Exercise of Options</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">9.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to the provisions of the Plan, an Option may be exercised from time to time by delivery to the Company at its head
office of a written notice of exercise addressed to the Chief Executive Officer, the President, the Chief Financial Officer or
the Corporate Secretary of the Company specifying the number of Shares with respect to which the Option is being exercised, together
with the appropriate form of payment (to be determined by the Company) for the aggregate of the Option Prices to be paid for the
Shares to be purchased. Certificates for such Shares shall be issued and delivered to or to the direction of the Optionee within
a reasonable time following the receipt of such notice and payment.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0cm">10.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Adjustment on Alteration of Share Capital</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">10.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event of a subdivision, consolidation or reclassification of outstanding Shares or other capital adjustment, the
number of Shares reserved or authorized to be reserved under the Plan, the number of Shares receivable on the exercise of an Option
and the Option Price therefor shall be increased or reduced proportionately and such other adjustments shall be made as may be
deemed necessary or equitable by the Board in its sole discretion and such adjustment shall be binding for all purposes.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">10.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Company amalgamates, consolidates or combines with or merges with or into another body corporate, whether by way
of amalgamation, arrangement or otherwise (the right to do so being hereby expressly reserved), any Share receivable on the exercise
of an Option shall be converted into the securities, property or cash which the Optionee would have received upon such amalgamation, consolidation, combination
or merger if the Optionee had exercised his or her Option immediately prior to the effective date of such amalgamation, consolidation,
combination or merger and the Option Price shall be adjusted as may be deemed necessary or equitable by the Board in its sole discretion
and such adjustment shall be binding for all purposes of the Plan.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">10.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event of a change in the Company&#8217;s currently authorized Shares which is limited to a change in the designation
thereof, the shares resulting from any such change shall be deemed to be Shares within the meaning of the Plan.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">10.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event of any other change affecting the Shares, such adjustment, if any, shall be made as may be deemed necessary
or equitable by the Board in its sole discretion to properly reflect such event and such adjustment be binding for all purposes
of the Plan.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">10.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No adjustment provided in this Section 10 shall require the Company to issue a fractional Share and the total adjustment
with respect to each Option shall be limited accordingly.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">10.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If, at any time when an Option granted under the Plan remains unexercised, an offer (&#8220;<B>Take-Over Bid</B>&#8221;)
to purchase all or substantially all of the Shares of the Company is made by a third party by means of a take-over bid circular,
the Company shall use its best efforts to bring such offer to the attention of the Optionee as soon as practicable and the Board
may, in a fair and equitable manner, at its option, require the acceleration of the time for the exercise of the Options granted
under the Plan and of the time for or waiver of the fulfillment of any conditions or restrictions on such exercise (including without
limitation, vesting requirements).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">10.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding any other provision herein, if because of a proposed merger, amalgamation or other corporate arrangement
or reorganization, the exchange or replacement of Shares in the Company for securities, property or cash in or from another company
is imminent (&#8220;<B>Business Combination</B>&#8221;), the Board may, in a fair and equitable manner, at its option determine
the manner in which all unexercised option rights granted under the Plan shall be treated including, for example, requiring the
acceleration of the time for the exercise of such rights by the Optionees and of the time for or the waiver of the fulfillment
of any conditions or restrictions on such exercise (including without limitation, vesting requirements) or providing that any Share
which would be receivable prior to the effective time of the Business Combination on the exercise of an Option be replaced with
the securities, property or cash which the Optionee would have received if the Optionee had exercised his or her Option immediately
prior to the effective time of the Business Combination and make any necessary adjustment, including adjustments to the Option
Price, as may be deemed necessary or equitable by the Board in its sole discretion. All determinations of the Board under this
Subsection 10.7 shall be binding for all purposes of the Plan. Any adjustments made by the Board in the context of a Business Combination
are subject to TSX approval.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">10.8<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In order to permit Optionees to participate in a proposed Take-Over Bid or a proposed Business Combination that could result
in a Change of Control, the Board may make appropriate provisions for the exercise of Options (whether vested or not) conditional
upon the Shares resulting therefrom being taken up and paid for under the Take-Over Bid or the completion of the Business Combination,
as applicable.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; text-align: left; margin-bottom: 0">11.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Regulatory Approval</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">11.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding any of the provisions contained in the Plan, Option Agreement or any term of the Option, the Company&#8217;s
obligations hereunder, including obligations to grant Options<B> </B>and issue Shares and to issue and deliver certificates for
such securities to an Optionee pursuant to the exercise of an Option shall be subject to:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">compliance with all applicable laws, regulations, rules, orders of governmental or regulatory authorities
in Canada and the United States or any other applicable jurisdiction (&#8220;<B>Securities Regulators</B>&#8221;);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">compliance with the requirements of the Exchange;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify">compliance with the Company&#8217;s insider trading policy; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify">receipt from the Optionee of such covenants, agreements, representations and undertakings, including
as to future dealings in such Shares, as the Company determines to be necessary or advisable in order to safeguard against the
violation of the securities laws of any jurisdiction.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">11.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall in no event be obligated to take any action in order to comply with any laws, regulations, rules, orders
or requirements.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">11.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding any provisions in the Plan, Option Agreement or any term of the Option, if any amendment, modification or
termination to the provisions hereof or any Option made pursuant hereto are required by any Securities Regulators, a stock exchange
or a market as a condition of approval to a distribution to the public of any Shares or to obtain or maintain a listing or quotation
of any Shares, the Board is authorized to make such amendments and thereupon the terms of the Plan, any Options, including any
option agreement made pursuant hereto, shall be deemed to be amended accordingly without requiring the consent or agreement of
any Optionee or shareholder approval.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0cm">12.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Terms and Conditions of Options Granted to U.S. Participants</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">12.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Section 12 applies only to U.S. Participants. In this Section 12, the following words and phrases shall have the following
meanings:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">&#8220;<B>Code</B>&#8221; means the U.S. Internal Revenue Code of 1986, as amended.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">&#8220;<B>Disability</B>&#8221; means, with respect to any U.S. Participant, that such U.S. Participant
is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that
can be expected to result in death or that has lasted, or can be expected to last, for a continuous period of not less than twelve
(12) months. The preceding definition of the term &#8220;Disability&#8221; is intended to comply with, and will be interpreted
consistently with, sections 22(e)(3) and 422(c)(6) of the Code.</TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify">&#8220;<B>Fair Market Value</B>&#8221; means, with respect to any property (including, without
limitation, any Share), the fair market value, as of a given date, of such property, determined by such methods or procedures as
are established from time to time by the Board. Unless otherwise determined by the Board, the fair market value of a Share as of
a given date will be the closing board lot sale<B> </B>price per share of a Share on the Exchange on the trading day immediately
preceding such date.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify">&#8220;<B>Grant Date</B>&#8221; means, with respect to any Option, the date on which the Board
grants the Option.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(e)</TD><TD STYLE="text-align: justify">&#8220;<B>Incentive Stock Option</B>&#8221; means an Option that is intended to qualify as an &#8220;incentive
stock option&#8221; pursuant to section 422 of the Code.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(f)</TD><TD STYLE="text-align: justify">&#8220;<B>Nonqualified Stock Option</B>&#8221; means an Option that is not an Incentive Stock Option.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(g)</TD><TD STYLE="text-align: justify">&#8220;<B>Option</B>&#8221; means an option to acquire Shares granted under this Plan.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(h)</TD><TD STYLE="text-align: justify">&#8220;<B>Subsidiary</B>&#8221; means any corporation (other than the Company) in an unbroken chain
of corporations beginning with the Company, if each corporation (other than the last corporation) in such chain owns stock possessing
fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such
chain. The preceding definition of the term &#8220;<B>Subsidiary</B>&#8221; is intended to comply with, and will be interpreted
consistently with, section 424(f) of the Code.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(i)</TD><TD STYLE="text-align: justify">&#8220;<B>U.S. Employee</B>&#8221; means a person who is an employee of the Company (or of any
Subsidiary) for purposes of section 422 of the Code.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(j)</TD><TD STYLE="text-align: justify">&#8220;<B>U.S. Participant</B>&#8221; means an Optionee who is a citizen of the United States or
a resident of the United States, in each case as defined in section 7701(a)(30)(A) and section 7701(b)(1)of the Code.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(k)</TD><TD STYLE="text-align: justify">&#8220;<B>10% Shareholder</B>&#8221; means any person who owns, taking into account the constructive
ownership rules set forth in section 424(d) of the Code, more than ten percent (10%) of the total combined voting power of all
classes of stock of the Company (or of any Parent or Subsidiary).</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">12.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding any other provision of this Plan to the contrary, the aggregate number of Shares available for Incentive
Stock Options shall not exceed 47,924,118 Shares, subject to adjustment pursuant to Article 10 of this Plan and subject to the
provisions of sections 422 and 424 of the Code.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">12.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each option agreement with respect to an Option granted to a U.S. Participant shall specify whether the related Option is
an Incentive Stock Option or a Nonqualified Stock Option. If no such specification is made in an option agreement, the related
Option will be:</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">an Incentive Stock Option if all of the requirements under the Code that must be satisfied in order
for such Option to qualify as an Incentive Stock Option are satisfied; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">in all other cases, a Nonqualified Stock Option.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">12.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In addition to the other terms and conditions of this Plan (and notwithstanding any other term or condition of this Plan
to the contrary), the following limitations and requirements will apply to an Incentive Stock Option:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">An Incentive Stock Option may be granted only to a U.S. Employee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">The aggregate Fair Market Value of the Shares (determined as of the applicable Grant Date) with
respect to which Incentive Stock Options are exercisable for the first time by any U.S. Participant during any calendar year (pursuant
to this Plan and all other plans of the Company and of any Parent or Subsidiary) will not exceed one hundred thousand dollars (U.S.$100,000)
or any other limitation subsequently set forth in section 422(d) of the Code. To the extent that such limitation is exceeded, the
options in excess of such limitation will be treated as Nonqualified Stock Options.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify">The exercise price per Share payable upon exercise of an Incentive Stock Option will be not less
than one hundred percent (100%) of the Fair Market Value of a Share on the applicable Grant Date; provided, however, that the exercise
price per Share payable upon exercise of an Incentive Stock Option granted to a U.S. Participant who is a 10% Shareholder on the
applicable Grant Date will be not less than one hundred ten percent (110%) of the Fair Market Value of a Share on the applicable
Grant Date. Under no circumstances shall the exercise price of an Option be less than the closing board lot sale price per share
of a Share on the Exchange on the trading day immediately preceding the Grant Date.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(d)</TD><TD STYLE="text-align: justify">No Incentive Stock Option may be granted more than ten (10) years after the earlier of (i) the
date on which the Board adopts the most recent amendment and restatement of the Plan or (ii) the date on which the shareholders
of the Company approve such most recent amendment and restatement of the Plan.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(e)</TD><TD STYLE="text-align: justify">An Incentive Stock Option will terminate and no longer be exercisable no later than the earlier
of the term set by the Board and five (5) years after the applicable Grant Date.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(f)</TD><TD STYLE="text-align: justify">If a U.S. Participant who has been granted an Incentive Stock Option ceases to be a U.S. Employee,
then, in order to retain its status as an Incentive Stock Option for U.S. federal tax purposes such Option must be exercised within
the time limits set forth below. Failure to exercise such Incentive Stock Options within the following time limits will result
in the Option ceasing to be an Incentive Stock Option.</TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 36pt">(i)</TD><TD STYLE="text-align: justify">If a U.S. Participant who has been granted an Incentive Stock Option ceases to be a U.S. Employee
due to the death of such U.S. Participant, such Incentive Stock Option may be exercised (to the extent such Incentive Stock Option
was exercisable on the date of death) by the estate of such U.S. Participant, or by any person to whom such Incentive Stock Option
was transferred in accordance with Subsection 6.8, for a period of one (1) year after the date of death (but in no event beyond
the term of such Incentive Stock Option).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 36pt">(ii)</TD><TD STYLE="text-align: justify">If a U.S. Participant who has been granted an Incentive Stock Option ceases to be a U.S. Employee
due to the Disability of such U.S. Participant, such Incentive Stock Option may be exercised (to the extent such Incentive Stock
Option was exercisable on the date of Disability) by such U.S. Participant for a period of one (1) year after the date of Disability
(but in no event beyond the term of such Incentive Stock Option).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 36pt">(iii)</TD><TD STYLE="text-align: justify">If a U.S. Participant who has been granted an Incentive Stock Option ceases to be a U.S. Employee
for any reason other than the death or Disability of such U.S. Participant or termination for Cause, such Incentive Stock Option
may be exercised (to the extent such Incentive Stock Option was exercisable on the date of termination) by such U.S. Participant
for a period of three (3) months after the date of termination (but in no event beyond the term of such Incentive Stock Option).
If an Option ceases to be an Incentive Stock Option by virtue of this paragraph, it will be treated as a Nonqualified Stock Option
and the provisions in Subsection 8.1 or 8.2, as applicable, will apply with respect to the period during which the Option may be
exercised.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0 72pt; text-align: justify">For purposes of this Subsection
12.4(f), the employment of a U.S. Participant who has been granted an Incentive Stock Option will not be considered interrupted
or terminated upon (a) sick leave, military leave or any other leave of absence approved by the Administrator that does not exceed
ninety (90) days in the aggregate; provided, however, that if reemployment upon the expiration of any such leave is guaranteed
by contract or applicable law, such ninety (90) day limitation will not apply, or (b) a transfer from one office of the Company
(or of any Parent or Subsidiary) to another office of the Company (or of any Parent or Subsidiary) or a transfer between the Company
and any Parent or Subsidiary.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0 72pt; text-align: justify">For greater certainty, under no
circumstances shall the above time limits apply to extend the time limits applicable under Section 8.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(g)</TD><TD STYLE="text-align: justify">An Incentive Stock Option granted to a U.S. Participant may be exercised during such U.S. Participant&#8217;s
lifetime only by such U.S. Participant.</TD></TR></TABLE>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">- <!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --> -</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(h)</TD><TD STYLE="text-align: justify">An Incentive Stock Option granted to a U.S. Participant may not be transferred, assigned, pledged,
hypothecated or otherwise disposed of by such U.S. Participant, except by will or by the laws of descent and distribution.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">12.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event that this Plan is not approved by the shareholders of the Company as required by Section 422 of the Code within
twelve (12) months before or after the date on which this Plan is adopted by the Board, any Incentive Stock Option granted under
this Plan will automatically be deemed to be a Nonqualified Stock Option.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">12.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any adjustment, amendment or termination of outstanding Options granted to U.S. Participants will occur only if such actions
are undertaken in accordance with Code Section 409A on a basis consistent with the regulations thereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">12.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All Options and Shares issued pursuant to the Plan will be issued pursuant to the registration requirements of the U.S.
Securities Act or an exemption from such registration requirements.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0cm">13.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Miscellaneous</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">13.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>An Optionee entitled to Shares as a result of the exercise of an Option shall not be deemed for any purpose to be, or to
have rights as, a shareholder of the Company by such exercise, except to the extent Shares are issued therefor and then only from
the date such Shares are issued. No adjustment shall be made for dividends or distributions or other rights for which the record
date is prior to the date such Shares are issued pursuant to the exercise of Options.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">13.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Company or any of its related entities, as applicable, shall be required to withhold any amounts by reason of any
federal, provincial, state, local or other laws of any jurisdiction concerning taxes, social security contributions or other source
deductions in respect of the issuance or delivery of the Options or Shares to the Optionee, the Company or the related entity may
deduct and withhold such amount or amounts from any payment made by the Company or the related entity to such Optionee, whether
or not such payment is made pursuant to this Plan. <B> </B>In addition, or as an alternative to such withholding from payments,
the Company or any related entity with a withholding obligation as described above may require an Optionee, as a condition of exercise
of an Option, to pay to the Company or related entity, as the case may be, an amount not exceeding the total of the withholding
obligation of the Company or related entity arising in respect of the issuance or delivery of the Options or Shares to the Optionee,
or to reimburse the Company or related entity for such amount. Under no circumstances shall the Company or any related entity be
responsible for funding the payment of any tax, social security contributions or other source deductions on behalf of the Optionee
or for providing any tax advice to them.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0cm">14.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Amendment and Termination</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">14.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Plan is effective as of June 21, 2018. Any amendments made are effective as of the date amended.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">14.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Board may, subject to Shareholder approval, amend the Plan at any time. Notwithstanding the foregoing, the Board is
specifically authorized to amend or revise the terms of the Plan without obtaining Shareholder approval in the following circumstances:</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(a)</TD><TD STYLE="text-align: justify">to change the termination provisions of the Options or Plan which does not extend beyond the original
expiry date;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(b)</TD><TD STYLE="text-align: justify">to add a cashless exercise feature, payable in cash or securities, whether or not the feature provides
for a full deduction of the number of underlying securities from the reserved Shares; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 36pt">(c)</TD><TD STYLE="text-align: justify">other amendments of a housekeeping nature, including the correction or rectification of any ambiguities,
defective or inconsistent provisions, errors, mistakes or omissions herein and updating provisions herein to reflect changes in
the governing laws, including tax laws, and the TSX requirements.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Except as otherwise permitted by the
TSX, amendments to this provision as well as amendments to the number of Shares issuable under the Plan (including an increase
to a fixed maximum number of Shares or a fixed maximum percentage of Shares, as the case may be, or a change from a fixed maximum
number of shares to a fixed maximum percentage), may not be made without obtaining approval of the Shareholders in accordance with
TSX requirements. For greater certainty, an increase does not include reloading after exercise under a fixed maximum number or
percentage provided the fixed maximum or percentage is not increased and the Plan otherwise permits reloading.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">14.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Board may suspend or terminate the Plan at any time. No action by the Board to terminate the Plan pursuant to this Section
14 shall affect any Options granted hereunder pursuant to the Plan prior to termination.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0cm">14.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as set out below, the Board may (without Shareholder approval) amend, modify or terminate any outstanding Option,
including, but not limited to, substituting another award of the same or of a different type or changing the date of exercise;
provided, however that, the Optionee&#8217;s consent to such action shall be required unless the Board determines that the action,
when taken with any related action, would not materially and adversely affect the Optionee or is specifically permitted hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The exercise price of any outstanding
Options may not be reduced and the original Option Period extended unless Shareholder approval is obtained by way of a resolution
passed by a majority of the votes cast by the Shareholders at a meeting of Shareholders. The Option Price of any outstanding Options
may not be reduced and the original term of the Option Period may not be extended to the benefit of Insiders unless disinterested
Shareholder approval is obtained in accordance with TSX requirements.</P>


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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">APPENDIX A</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">INCENTIVE
STOCK OPTION PLAN</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">OPTION
AGREEMENT</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">1.</TD><TD STYLE="text-align: justify">This Option Agreement is entered into between Eldorado Gold Corporation (the &#8220;<B>Company</B>&#8221;)
and the Optionee as defined below.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">2.</TD><TD STYLE="text-align: justify">The Optionee acknowledges having received a copy of the Company&#8217;s Incentive Stock Option
Plan effective as of June 21, 2018, as amended or amended and/or restated from time to time (the &#8220;<B>Plan</B>&#8221;), a
copy of which is attached hereto, that he or she has read and understands the Plan and that the terms therein (including any amendments
thereto since the Grant Date) govern the grant hereunder.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">3.</TD><TD STYLE="text-align: justify">Subject to the terms and conditions of the Plan, the Company grants the Optionee the options set
out below on the terms and conditions set out below.</TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt">Grant Date:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 7%; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 25%; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt">Optionee:</TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 22%; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt">(the &#8220;<B>Optionee</B>&#8221;)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt">Optionee&#8217;s Position with/relationship to <BR>
the Company or <BR>
related entity:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt">Number of Options:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt">Option Price<BR>
($ per Share):</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt">Vesting Period:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt">Vesting Performance Targets:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt">Expiry Date of <BR>
Option Period:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">4.</TD><TD STYLE="text-align: justify">Subject to the Plan, each Option that has vested entitles the Optionee to purchase one Share at
any time up to 4:30 p.m. Vancouver time on the expiry date of the Option Period.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">5.</TD><TD STYLE="text-align: justify">This Option Agreement is subject to the terms and conditions set out in the Plan and such terms
and conditions are incorporated herein by this reference and agreed to by the Optionee. In the case of any inconsistency between
this Option Agreement and the Plan, the Plan shall govern. Unless otherwise
indicated, all defined terms shall have the respective meanings attributed thereto in the Plan.</TD></TR></TABLE>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0 36pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">6.</TD><TD STYLE="text-align: justify">The Optionee acknowledges that the Company makes no representation or warranty as to the future
value of any Option granted hereunder or Shares issuable thereto.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">7.</TD><TD STYLE="text-align: justify">The Optionee acknowledges and agrees that the Optionee will, at all times, act in strict compliance
with any and all applicable laws and any policies of the Company applicable to the Optionee in connection with the Plan.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">8.</TD><TD STYLE="text-align: justify">The Optionee acknowledges that if the Company or any of its related entities, as applicable, are
required to withhold any amounts by reason of any federal, provincial, state, local or other laws of any jurisdiction concerning
taxes, social security contributions or other source deductions in respect of the issuance or delivery of the Options or Shares
to the Optionee, the Company or the related entity may deduct and withhold such amount or amounts from any payment made by the
Company or the related entity to such Optionee, whether or not such payment is made pursuant to this Plan. The Optionee also acknowledges
that under no circumstances shall the Company or any related entity of the Company be responsible for funding the payment of any
tax, social security contributions or other source deductions on behalf of the Optionee or for providing any tax advice to the
Optionee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">9.</TD><TD STYLE="text-align: justify">The Optionee hereby acknowledges that the Options and Shares issued on exercise may be subject
to tax under applicable federal, provincial, state or other laws of any jurisdiction, that no representation has been made and
he or she has not received any advice from the Company or a related entity of the Company as to tax or legal ramification of the
grant of Options hereunder or Shares issuable thereto and that he or she has been advised to seek independent tax advice as he
or she deems necessary.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">10.</TD><TD STYLE="text-align: justify"><B><U>[OPTION - Insert if Optionee is a U.S. Participant and US Employee as defined in Section
12 of the Plan and ISOs are being granted]</U> [Unless this grant notice specifies otherwise, Options that meet the requirements
of Code Section 422 and applicable regulations will be Incentive Stock Options (&#8220;ISOs&#8221;). U.S. Participants should refer
to Section 12 of the Plan for provisions relating to ISOs. In addition, U.S. Participants should consult with their personal tax
advisor with regard to the tax consequences relating to the exercise of an ISO and the subsequent sale of Shares, including the
holding period requirement with respect to Shares received upon exercise of an ISO in order to retain favourable ISO tax treatment,
and the possible alternative minimum tax implications as a result of exercise of an ISO (the latter will depend on the individual
tax situation of the Optionee). <U>OR</U></B></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0 36pt; text-align: justify"><B>Insert if Optionee is a U.S.
Participant and Nonqualified Stock Option is being granted:</B><BR>
<B>These Options are Nonqualified Stock Options.]</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">By signing this agreement, the Optionee
acknowledges that he, she, or his or her authorized representative has read and understands the Plan.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 36pt">IN WITNESS WHEREOF
the parties hereto have executed this Option Agreement as of the _____ day of _______________, _____.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>ELDORADO GOLD CORPORATION</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 5%">Per:</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Authorized Signatory</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Acknowledged and Agreed to:</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 7.2pt">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: 7.2pt">&nbsp;</TD>
    <TD STYLE="width: 46%; padding-right: 7.2pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 7.2pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.2pt 0 0">)</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.2pt 0 0">)</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.2pt 0 0">)</P></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.2pt 0 0">&nbsp;</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.2pt 0 0">&nbsp;</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.2pt 0 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Signature of Optionee</TD>
    <TD STYLE="padding-right: 7.2pt">)</TD>
    <TD>Signature of Witness</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 7.2pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.2pt 0 0">)</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.2pt 0 0">)</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.2pt 0 0">)</P></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.2pt 0 0">&nbsp;</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.2pt 0 0">&nbsp;</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 7.2pt 0 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 7.2pt">Name and Title of Optionee</TD>
    <TD STYLE="padding-right: 7.2pt">)</TD>
    <TD>Name of Witness</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

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