Company: FENC
Filing Date: 2025-11-18
Form Type: S-8
Source: 0001104659-25-113660
Chunk: 4

Company: FENNEC PHARMACEUTICALS INC.
Filing Date: 2025-11-18
Form: S-8
Chunk 4
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 honestly and in good faith with a view to the best interests 
 of the corporation or the associated corporation, as the case may be;                                                                  |

| · | in the case of an eligible                                                                                                              
 proceeding other than a civil proceeding, if the eligible party did not have reasonable grounds for believing that the eligible party’s 
 conduct in respect of which the proceeding was brought was lawful.                                                                      |

If an eligible proceeding
is brought against an eligible party by or on behalf of the corporation or by or on behalf of an associated corporation, the corporation
must not (a) indemnify the eligible party in respect of the proceeding or (b) pay the expenses of the eligible party in respect
of the proceeding.

A corporation may purchase
and maintain insurance for the benefit of an eligible party or the heirs and personal or other legal representatives of the eligible
party against any liability that may be incurred by reason of the eligible party being or having been a director or officer of, or holding
or having held a position equivalent to that of a director or officer of, the corporation or an associated corporation.

Articles

Our Articles provide that,
subject to the Business Corporations Act (British Columbia), the Company must indemnify an eligible party and their respective
heirs and personal or other legal representatives against all eligible penalties to which such eligible party is or may be liable. The
Company must, after the final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by such person
in respect of that proceeding. Each eligible party is deemed to have contracted with the Company on this term. The Articles also provide
that the Company may indemnify any person, subject to any restrictions in the Business Corporations Act (British Columbia).

Our Articles defines the
following terms: (1) an “eligible penalty” means a judgment, penalty or fine awarded or imposed in, or an amount paid
in settlement of, an “eligible proceeding”; (2) an “eligible party” means a director, former director or
alternate director of the Company; (3) an “eligible proceeding” means a legal proceeding or investigative action (whether
current, threatened, pending or completed), in which an eligible party or any of the heirs and personal or other legal representatives
of the eligible party, by reason of the eligible party being or having been a director or alternate director of the Company (a) is
or may be joined as a party, or (b) is or may be liable for or in respect of a judgment, penalty or fine in,