Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 109

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 6
Chunk 109
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 the SAR is exercised over the base
price per share specified in the award agreement. The base price for each SAR cannot be less than 100% of the Fair Market Value of Common
Shares on the grant date and the term of a SAR cannot be more than 10 years from the grant date, unless required otherwise by applicable
law. At the discretion of the Administrator, the payment upon a SAR exercise may be in cash, shares or a combination of the two. The
“ Fair Market Value” means the official closing price per Common Share for the regular market session on the day of determination.

Awards granted under the Long-Term Incentive Plan
shall not be subject in any manner to alienation, anticipation, sale, transfer, assignment, pledge, or encumbrance, except as otherwise
determined by the Administrator; provided, however, that this restriction shall not apply to the Common Shares received in connection
with an award after the date that the restrictions on transferability of such shares set forth in the applicable award agreement have
lapsed.

Except as provided in the applicable award agreement
or otherwise determined by the Administrator, and subject to the minimum vesting period or minimum restriction period described above,
upon termination of service (as defined in the Long-Term Incentive Plan):

  Stock options or stock appreciation rights shall be forfeited, to the                                                                
  During the applicable restriction period, restricted stock and any                                                                   
  During the applicable deferral period or portion thereof to which forfeiture                                                         

In the event of a change in control (as defined in
the Long-Term Incentive Plan) of the Corporation, outstanding awards will terminate upon the effective time of the change in control
unless provision is made for the continuation, assumption or substitution of awards by the surviving or successor entity or its parent.
Unless an award agreement says otherwise, the following will occur with respect to awards that terminate in connection with a change
in control of the Corporation:

  stock options and SARs, whether vested or unvested, will become fully                                                                      
  restricted stock and RSUs with time-based vesting (i.e., not subject                                                                       
  restricted stock, RSUs, performance shares, and performance units that                                                                     

  75  

The Administrator may amend, alter or discontinue
the Long-Term Incentive Plan, but no amendment, alteration or discontinuation will be made that would materially impair the rights of
a participant with respect to a previously granted award without his or her consent, except