Company: FENC
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001558370-25-005563
Chunk: 89

Company: FENNEC PHARMACEUTICALS INC.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 89
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,000 of Fair Market Value of Shares (determined as at the applicable Offering Commencement Date).

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Eligible Compensation . For the purposes of Section 12(b)(i) above, Eligible Compensation shall mean the regular annual base salary of an employee, but does not include any variable compensation, bonuses, sales commission, payment for overtime, long-term disability payments, premium payments, differentials, achievement award payments, any special compensation or any mid-Offering Period salary increases;

Purchase Price . The purchase price at which Shares may be purchased pursuant to Stock Purchase Rights shall be determined by the Administrator, provided that such purchase price shall not be less than the lesser of: (i) 85% of the Fair Market Value of the Shares on the Offering Commencement Date; and (ii) 85% of the Fair Market Value of the Shares on the Offering Expiry Date.

Sale Event . In the case of a Sale Event, the surviving, continuing, successor, or purchasing corporation or parent thereof, as the case may be (the “Acquiring Corporation” ), may, without the consent of any grantee, assume the Company’s rights and obligations respecting Stock Purchase Rights granted under the Plan. If the Acquiring Corporation elects not to assume the Company’s rights and obligations respecting Stock Purchase Rights granted under the Plan, the  Offering Expiry Date of the then current Offering Period shall be accelerated to a date before the date of the Sale Event specified by the Administrator. All Stock Purchase Rights which are neither assumed by the Acquiring Corporation in connection with the Sale Event nor exercised as of the date of the Sale Event shall terminate and cease to be outstanding effective as of the date of the Sale Event.

Tax Qualification . Although the Company endeavors to qualify Stock Purchase Rights for favorable tax treatment under Section 423 of the Code and avoid adverse tax treatment (e.g., under Section 409A of the Code), the Company makes no representation to that effect and expressly disavows any covenant to maintain favorable or avoid unfavorable tax treatment, anything to the contrary in this Plan notwithstanding. The Company shall be unconstrained in its corporate activities without regard to the potential negative tax impact on Stock Purchase Right participants under the Plan.

Stock Purchase Rights Policies and Procedures . Without limiting the general powers of the Administrator set forth in Section 2(b) of the Plan, the Administrator may, from time to time, consistent with the Plan and the requirements of Section 423 of the Code, establish, change or