Subsequent Events

3 Months Ended

Mar. 31, 2014

7.	Subsequent Events

On April 25, 2014, Adherex elected two new members to the board of directors, Adrian Haigh and Dr. Khalid Islam. Both Mr. Haigh and Dr. Islam were granted 400,000 options in accordance with their board service agreements. The new members fill the vacancies left by the departure of Robert Andrade and David Lieberman.

In addition to the options issued to the new board members, on April 25, 2014, the Company granted options to other board members. The following table describes the details of the options granted:

	Grant	Strike	Number of
	Date	Price	Options Granted
Chris Rallis	April 25, 2014	0.77	12,987
Steven Skolsky	April 25, 2014	0.77	12,987
Adrian Haigh	April 25, 2014	0.77	400,000	(1)
Dr. Khalid Islam	April 25, 2014	0.77	400,000	(1)

Total options granted			825,974

(1) Such options shall vest: (i) as to 200,000 Common Shares, on the date of grant; and (ii) as to 200,000 Common Shares, upon and subject to orphan drug approval of STS in the EU, provided that they then remain on the Board at the time of such approval and that they have played a vital or precipitating part in obtaining such EU orphan drug designation, as reasonably determined by non-interested Board members. If the vesting conditions referred to in (ii) above have not occurred by May 31, 2016, the option to acquire the 200,000 common shares referred to in (ii) above shall be terminated and of no further force or effect.