Company: FENC
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001558370-25-005563
Chunk: 87

Company: FENNEC PHARMACEUTICALS INC.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 87
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 Subsidiary that is a “subsidiary corporation” within the meaning of Section 424(f) of the Code.  A Stock Purchase Right is an Award entitling the grantee to purchase Shares at the price and on the other terms and conditions determined by the Administrator and set forth in the Award Certificate respecting such Award, subject to the requirements set forth in this Section 12.

Offering Periods . Unless and until the Administrator determines otherwise in its discretion, each Offering Period shall consist of a six (6) month periods, commencing on the first day of a calendar month specified by the Administrator (the “ Offering Commencement Date ”) and, subject to Sections 12(c) and 12(g), ending on the last day of the sixth calendar month thereafter (the “ Offering Expiry Date ”).  No Offering Period shall exceed twelve (12) months in duration.

Employees Eligible to Participate in Stock Purchase Rights . No employee who, immediately after commencement of any Offering Period, owns stock possessing five percent or more of the total combined voting power or value of all classes of stock of the Company or any parent or subsidiary corporation, may participate in any offering of Stock Purchase Rights under the Plan.  Subject to the foregoing, each employee of the Company and any Subsidiary that is a “subsidiary corporation” within the meaning of Section 424(f) of the Code are eligible to participate in any offering of Stock Purchase Rights, provided that, to the extent permitted under Section 423 of the Code, the Administrator may in its discretion from time to time exclude (on a uniform and nondiscriminatory basis or as otherwise permitted by Treasury Regulation Section 1.423-2) individuals who: (i) have not completed at least two (2) years of service since his or her last hire date (or, with respect to a decision to include an individual, such lesser period of time as may be determined by the Board in its discretion), (ii) customarily work not more than twenty (20) hours per week (or, with respect to a decision to include an individual, such lesser period of time as may be determined by the Board in its discretion), (iii) customarily work not more than five (5) months per calendar year (or, with respect to a decision to include an individual, such lesser period of time as may be determined by the Board in its discretion), (iv) are highly compensated employee within the meaning of Section 414(q) of the