Company: FENC
Filing Date: 2025-11-18
Form Type: S-8
Source: 0001104659-25-113660
Chunk: 3

Company: FENNEC PHARMACEUTICALS INC.
Filing Date: 2025-11-18
Form: S-8
Chunk 3
---
) at the request of the
corporation, or (c) at the request of the corporation, is or was, or holds or held a position equivalent to that of, a director
or officer of a partnership, trust, joint venture or other unincorporated entity.

An “eligible proceeding”
means a proceeding 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 officer of, or holding or having held a position equivalent to that
of a director or officer of, the corporation or an associated corporation (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, or expenses related to, the proceeding.

A corporation must, after
the final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by the eligible party in respect of
that proceeding if the eligible party (a) has not been reimbursed for those expenses, and (b) is wholly successful, on the
merits or otherwise, in the outcome of the proceeding or is substantially successful on the merits in the outcome of the proceeding.

A corporation may pay, as
they are incurred in advance of the final disposition of an eligible proceeding, the expenses actually and reasonably incurred by an
eligible party in respect of that proceeding, provided the corporation first receives from the eligible party a written undertaking that,
if it is ultimately determined that the payment of expenses is prohibited, the eligible party will repay the amounts advanced.

Notwithstanding any of the
foregoing, a corporation must not indemnify an eligible party or pay the expenses of an eligible party if any of the following circumstances
apply:

| · | if the indemnity or payment                                                                                                      
 is made under an earlier agreement to indemnify or pay expenses and, at the time that the agreement to indemnify or pay expenses 
 was made, the corporation was prohibited from giving the indemnity or paying the expenses by its memorandum or articles;         |

| · | if the indemnity or payment                                                                                                      
 is made otherwise than under an earlier agreement to indemnify or pay expenses and, at the time that the indemnity or payment is 
 made, the corporation is prohibited from giving the indemnity or paying the expenses by its memorandum or articles;              |

| · | if, in relation to the                                                                                                                 
 subject matter of the eligible proceeding, the eligible party did not act