# EDGAR Filing Document

**Accession Number:** 0001751912
**File Stem:** 0001104659-26-049508
**Filing Date:** 2026-4
**Character Count:** 638711
**Document Hash:** 50924cc4c7fd14b7eb405f69fa3ddac6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-049508.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0001104659-26-049508

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 54

**CONFORMED PERIOD OF REPORT**: 20260427

**FILED AS OF DATE**: 20260427

**DATE AS OF CHANGE**: 20260427

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NERVGEN PHARMA CORP.
- **CENTRAL INDEX KEY:** 0001751912
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-43048
- **FILM NUMBER:** 26901917

**BUSINESS ADDRESS:**
- **STREET 1:** SUITE 1703 - 595 BURRARD STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V7X 1J1
- **BUSINESS PHONE:** 6047225361

**MAIL ADDRESS:**
- **STREET 1:** SUITE 1703 - 595 BURRARD STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V7X 1J1

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549**

**Form 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE**

**SECURITIES EXCHANGE ACT OF 1934**

**For the month of April 2026**

Commission File Number: **001-43048**

**NERVGEN PHARMA CORP.**

(Exact name of Registrant as specified in its charter)

**N/A**<br> (Translation of Registrant's name)

**112-970 Burrard Street, Unit 1290<br> Vancouver, British Columbia, Canada V6Z 2R4<br> Telephone: (778) 731-1711**<br> (Address and telephone number of registrant's principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ◻ Form 40-F ⌧

**EXPLANATORY NOTE**

**Chief Financial Officer Appointment**

On April 27, 2026, NervGen Pharma Corp. (the "Company") announced the appointment of Dr. Keith Vendola as Chief Financial Officer, effective immediately (the "Effective Date"). A copy of the press release announcing Dr. Vendola's appointment and related material change report are filed hereto as Exhibits 99.1 and 99.2, respectively.

Dr. Vendola, age 54, previously served as the Chief Financial Officer of Wugen, Inc., a privately-held biotechnology company, from October 2023 to December 2025. Prior to that, he served as the Chief Financial Officer of IO Biotech, Inc., a publicly-traded company developing anti-cancer therapies, from July 2021 to May 2022. In addition, Dr. Vendola was the Chief Financial Officer and Chief Strategy Officer of Rezolute, Inc., a publicly-traded company focused on developing therapies for rare diseases, from May 2018 to March 2021. Prior to that, he served as Chief of Staff to the Chief Executive Officer of Coherus BioSciences, where his responsibilities spanned corporate development, strategy, operations, and investor relations. Dr. Vendola began his corporate finance career as an investment banker within the healthcare groups of BofA Securities and JPMorgan Chase. Dr. Vendola earned his MBA in finance from Kellogg School of Management, executive certificate in strategic negotiations from Harvard Business School, MD from Dartmouth Medical School, and BA in psychology from College of the Holy Cross.

Pursuant to an employment agreement (the "Employment Agreement"), dated as of the Effective Date, between Dr. Vendola and NervGen US Inc., a wholly owned subsidiary of the Company ("NervGen U.S."), Dr. Vendola will be paid an annualized base salary of $515,000 and will be eligible to receive an annual cash incentive bonus of up to 40% of his annualized base salary each fiscal year, as determined by the Board of Directors (the "Board") in its sole discretion.

Effective as of the Effective Date, the Board granted to Dr. Vendola stock options (the "Options") to purchase up to 812,002 common shares of the Company, with an exercise price per share of $3.92, the closing price of the Company's common shares as reported by the Nasdaq Stock Market on April 24, 2026. The Options are exercisable for a period of ten years from the Effective Date and are scheduled to vest over a three-year period, in three equal annual installments on each anniversary of the Effective Date, subject to Dr. Vendola's continued service through each applicable vesting date. The Options were granted pursuant to the NervGen Pharma Corp. 2026 Equity Incentive Plan (the "Plan").

In addition, Dr. Vendola has entered into an indemnification agreement with the Company, the form of which is filed as 10.1 to this Report on Form 6-K, pursuant to which the Company may be required, among other things, to indemnify Dr. Vendola for certain expenses actually and reasonably incurred by him in any action or proceeding arising out of his service as an officer of the Company.

The foregoing description of the Employment Agreement does not purport to be complete and is subject to and qualified in its entirety by reference to the full text of the Employment Agreement. A copy of the Employment Agreement is filed as Exhibit 10.2 to this Report on Form 6-K.

**Annual Meeting of Shareholders**

Filed hereto as Exhibit 99.3 and 99.4, and incorporated by reference herein, are the Report of Voting Results regarding the results of the Company's Annual Meeting of Shareholders (the "Meeting"), which was held on Thursday, April 23, 2026, and the related management information circular, respectively.

At the Meeting, the shareholders of the Company approved an amendment to the Articles of the Company, and adopted the Plan, which are filed as Exhibit 3.1 and Exhibit 10.3, respectively, and incorporated by reference herein, in addition to the other routine matters discussed in Exhibit 99.4.

**INCORPORATION BY REFERENCE**

This Report on Form 6-K, including Exhibits 3.1, 10.1, 10.2, 10.3, 99.2 and 99.3, is incorporated by reference into the registrant's Registration Statement on [Form F-10 (File No. 333-292197)](https://www.sec.gov/Archives/edgar/data/1751912/000110465925122026/tm2532520-1_f10.htm), to be a part thereof from the date on which this Report on Form 6-K is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.

**DOCUMENTS INCLUDED AS PART OF THIS REPORT**

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| | |
|:---|:---|
| **Exhibit** |  |
| [3.1](tm2612795d1_ex3-1.htm) | [Alteration to Articles of the Company](tm2612795d1_ex3-1.htm) |
| [10.1](tm2612795d1_ex10-1.htm) | [Form of Indemnification Agreement between the registrant and each of its executive officers and directors](tm2612795d1_ex10-1.htm) |
| [10.2](tm2612795d1_ex10-2.htm) | [Employment Agreement by and between NervGen U.S. and Keith Vendola, dated April 27, 2026.](tm2612795d1_ex10-2.htm) |
| [10.3](tm2612795d1_ex10-3.htm) | [NervGen Pharma Corp. 2026 Equity Incentive Plan.](tm2612795d1_ex10-3.htm) |
| [99.1](tm2612795d1_ex99-1.htm) | [Press Release, dated April 27, 2026.](tm2612795d1_ex99-1.htm) |
| [99.2](tm2612795d1_ex99-2.htm) | [Material Change Report, dated April 27, 2026.](tm2612795d1_ex99-2.htm) |
| [99.3](tm2612795d1_ex99-3.htm) | [Report of Voting Results.](tm2612795d1_ex99-3.htm) |
| [99.4](tm2612795d1_ex99-4.htm) | [Management Information Circular for the Annual Meeting of Shareholders held on Thursday, April 23, 2026.](tm2612795d1_ex99-4.htm) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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|  | **<br> NERVGEN PHARMA CORP.** | **<br> NERVGEN PHARMA CORP.** |
| Date: April 27, 2026 | By: | /s/ Adam Rogers |
|  |  | Name: Adam Rogers |
|  |  | Title: Chief Executive Officer |

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## Exhibit 3.1

**Exhibit 3.1**

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img001.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1381-9028-3039.1 NERVGEN PHARMA CORP. (the "Company") Extract of Minutes ALTERATION TO ARTICLES OF THE COMPANY Pursuant to section 42(2)(a)(iv) of the Business Corporations Act (British Columbia), the following is an extract of the annual general meeting minutes of the voting shareholders of the Company dated April 23, 2026, which extract is attached to the Articles as made effective on April 23, 2026. ____________________________________________________________________________ "APPROVAL OF AMENDMENT TO ARTICLES At the Meeting, shareholders will be asked to approve an amendment to the Corporation's Articles in accordance with the BCBCA (the "Amended Articles"). The special resolution approving the Amended Articles must be passed by not less than 66⅔% of the votes cast by shareholders who are entitled to vote and are present in person or represented by proxy at the Meeting. The below is only a summary of the proposed amendment and shareholders should refer to the full text of the amendment to the Articles attached as Appendix "E" to this Circular. The Corporation currently qualifies as a Foreign Private Issuer ("FPI") under the Exchange Act and is entitled to rely on certain corporate governance exemptions under Nasdaq rules. The Corporation expects to lose its FPI status as of January 2027, and as such, is seeking shareholder approval to amend its Articles to increase the Quorum Requirement in order to comply with Nasdaq rules. The amendments are intended to align the Corporation's Articles with such requirements. Amendment to Quorum Requirement The Board proposes to amend the Articles to change the quorum requirements to transact business at a meeting of shareholders (the "Quorum Requirement"). The current Articles define the quorum necessary for the transaction of business at a meeting of shareholders as two shareholders present in person or represented by proxy holding or representing at least 5% of the outstanding Common Shares of the Corporation. The Amended Articles provide that at a meeting of shareholders, the quorum will be two persons who are, or who represent by proxy, shareholders who, in the aggregate, hold at least 33⅓% of the issued Common Shares entitled to be voted at the meeting. Shareholder Approval of Amendment to Articles At the Meeting, shareholders will be asked to consider and, if thought advisable, approve a special resolution (requiring the approval by not less than 66⅔% of the votes cast in person or represented by proxy at the Meeting) authorizing and approving the Corporation's adoption of the amendment to the Articles (the "Articles Amendment Resolution"). The text of the Articles Amendment Resolution is set out below. RESOLVED AS A SPECIAL RESOLUTION THAT: 1. The Articles of NervGen Pharma Corp. (the "Corporation") be amended, substantially in the form appended as Appendix E to the management information circular of the Corporation dated March 13, 2026, by amending Article 11.3 thereto, which modifies the quorum requirements to transact business at a meeting of shareholders. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img002.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1381-9028-3039.1 2. Any director or officer of the Corporation is hereby authorized and directed, for and on behalf of the Corporation, to do all things and execute, deliver and file all such agreements, documents and instruments, and do all such other acts and things that may be necessary or desirable to give effect to the foregoing resolutions." "APPENDIX E AMENDED ARTICLES OF INCORPORATION QUORUM REQUIREMENT Current Provisions Section 11.3 of the Articles currently states: "11.3 Quorum Subject to the special rights and restrictions attached to the shares of any class or series of shares, the quorum for the transaction of business at a meeting of shareholders is two shareholders present in person or represented by proxy holding or representing at least 5% of the outstanding shares." Amendments Section 11.3 of the Articles is amended by deleting Section 11.3 and replacing with the following: "11.3 Quorum Subject to the special rights and restrictions attached to the shares of any class or series of shares, the quorum for the transaction of business at a meeting of shareholders is two persons who are, or who represent by proxy, shareholders who, in the aggregate, hold shares to which are attached at least 33⅓% of the votes attached to all of the issued shares of the Company entitled to be voted at the meeting." "  |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img003.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TABLE OF CONTENTS**

1. 2. 2 3. Issue of Shares 4 4. 5 5. 6 6. Transmission of Shares 7 1. 1 8. 8 9. 8 9 11 15 13. Directors 18 14. Election and Removal of Directors 20 15. Alternate Directors 24 I 16. Powers and Duties of Directors 26 17. Disclosure ofInterest of Directors and Officers 26 27 30 20. Officers 31 21. Indemnification 32 22. Dividends 33 35 35 25. Seal 37 26. Prohibitions 38 ARTICLES of NERVGEN PHARMA CORP. Share Registers Share Transfers 18. Proceedings of Directors 19. Executive and Other Committees Purchase, Redemption or other Acquisition of Shares Bonowing Powers Alterations ................. 10. Meetings of Shareholders 11. Proceedings at Meetings of Shareholders 12. Votes of Shareholders 23. Documents, Records and Reports 24. Notices Page No. 2 Northwest Law Group MFP v18 [2017-11-15] Incorporation number: BC1104403 Article Interpretation......................... Shares and Share Certificates |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img004.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Interpretation 1.1 Definitions In these Articles, the following words and phrases have the meanings set out beside them: (1) (2) (3) (4) (4) (5) (6) (7) "Seal" means the seal ofthe Company, if any. 1.2 Corporations Act and Interpretation Act Definitions Applicable 2. Shares and Share Certificates 2.1 Authorized Share Structure 2 "Board" or "Directors" means all ofthe Directors or the sole Director ofthe Company at any time; "Interpretation Act" means the Interpretation Act (British Columbia) from time to time in force and all amendments thereto and includes all regulations and amendments thereto made pursuant to that Act; The authorized share structure ofthe Company consists ofshares ofthe kinds, classes and, if any, series described in the Notice ofArticles ofthe Company. "Corporations Act" means the Business Corporations Act (British Columbia) from time to time in force and all amendments thereto and includes all regulations and amendments thereto made pursuant to that Act; "Protected Purchaser" means a "protected purchaser" under the Securities Transfer Act (British Columbia); "Registered Address" of a shareholder means the shareholder's address as recorded in the central securities register; and "Legal Personal Representative" means the personal or other legal representative of the shareholder; "Company" means the company whose name is set out at the top of page 1, being the company which has adopted these Articles; Northwest Law Group MFP v19 [2017-01-19] The definitions in the Corporations Act and the definitions and rules of construction in the Interpretation Act, with the necessary changes, so far as applicable, and unless the context requires otherwise, apply to these Articles as if they were an enactment. If there is a conflict between a definition in the Corporations Act and a definition or rule in the Interpretation Act relating to a term used in these Articles, the definition in the Corporations Act will prevail in relation to the use of the term in these Articles. If there is a conflict between these Articles and the Corporations Act, the Corporations Act will prevail. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img005.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,2 Shares may be Certificated or Uncertificated 2.3 Form of Share Certificate 2.4 Shareholder Entitled to Certificate, Acknowledgment or Notice 2.5 Delivery by Mail 3 A share issued by the Company may be represented by a share certificate or uncertificated (not represented by a share certificate). (2) receives proofsatisfactory to it that the share certificate or acknowledgment is lost, stolen or destroyed and any indemnity the Board considers adequate. Any share certificate or non-transferable written acknowledgment of a shareholder's right to obtain a share certificate may be sent to the shareholder by mail at the shareholder's Registered Address and neither the Company nor any Director, officer or agent ofthe Company is liable for any loss to the shareholder because the share certificate or acknowledgement is lost in the mail or stolen. Each share certificate issued by the Company must comply with, and be signed as required by, the Corporations Act. Unless the shares of which a shareholder is the registered owner are uncertificated shares, each shareholder is entitled, without charge, to (a) one share certificate representing the shares of each class or series of shares registered in the shareholder's name, or (b) a non-transferable written acknowledgment of the shareholder's right to obtain such a share certificate, but in respect of a share held jointly by several persons, the Company is not bound to issue more than one share certificate and delivery of a share certificate for a share to one ofseveral joint shareholders or to one of the shareholders' duly authorized agents will be sufficient delivery to all. If a share is uncertificated, the Company must send to the shareholder, within a reasonable period of time after the issue or transfer of that share to the shareholder, a written notice containing the information required for a share certificate under the Corporations Act. Northwest Law Group MFP v19 [2017-01-19] (1) has not been notified that the shares evidenced by such share certificate have been acquired by a Protected Purchaser; and 2.7 Replacement of Lost, Stolen or Destroyed Certificate or Acknowledgment If a share certificate or a non-transferable written acknowledgment of a shareholder's right to obtain a share certificate is lost, stolen or destroyed, a replacement share certificate or acknowledgment, as the case may be, must be issued to the person entitled to that share certificate or acknowledgment, as the case may be, ifthe Board: 2.6 Replacement of Worn Out or Defaced Certificate or Acknowledgement If the Board is satisfied that a share certificate or a non-transferable written acknowledgment of the shareholder's right to obtain a share certificate is worn out or defaced, it must, on production ofthe share certificate or acknowledgment, as the case may be, and on such other terms, if any, as it thinks fit, cancel the share certificate or acknowledgement and issue a replacement share certificate or acknowledgement, as the case may be. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img006.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8 Recovery of New Share Certificates 2.10 Certificate Fee 3. Issue of Shares 3.1 Directors Authorized 3.2 Commissions and Discounts 4 Subject to the rights ofthe holders ofissued shares ofthe Company, the Company may allot, sell, issue and otherwise dispose ofthe unissued shares, and issued shares held by the Company, at the times, to the persons, including Directors, in the manner, on the terms and conditions and for the issue prices (including any premium at which shares with par value may be issued) that the Board may determine. The issue price for a share with par value must be equal to or greater than the par value ofthe share. If, after the issuance of a new share certificate, a Protected Purchaser of the original share certificate presents the original share certificate for the registration of a transfer then, in addition to any rights in the indemnity, the Company may recover the new share certificate from a person to whom it was issued or any person taking under that person other than a Protected Purchaser. The Company may pay at any time a reasonable commission or allow a reasonable discount to any person in consideration of that person purchasing or agreeing to purchase shares of the Company from the Company or any other person or procuring or agreeing to procure purchasers for shares ofthe Company. There must be paid to the Company, in relation to the issue of any share certificate under Articles 2.6, 2.7 or 2.9, the amount, if any and which must not exceed the amount prescribed under the Corporations Act, determined by the Board. Northwest Law Group MFP v19 [2017-01-19] 2.11 Recognition ofTrusts Except as required by law or statute or these Articles, no person will be recognized by the Company as holding any share upon any trust, and the Company is not bound by or compelled in any way to recognize (even when having notice thereof) any equitable, contingent, future or partial interest in any share or fraction of a share or (except as by law or statute or these Articles provided or as ordered by a court of competent jurisdiction) any other rights in respect of any share except an absolute right to the entirety thereofin the shareholder. 2.9 Splitting Share Certificates If a shareholder surrenders a share certificate to the Company with a written request that the Company issue in the shareholder's name two or more share certificates, each representing a specified number of shares and in the aggregate representing the same number of shares as the share certificate so surrendered, the Company must cancel the surrendered share certificate and issue replacement share certificates in accordance with that request. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img007.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 Conditions of Issue (1) (a) past services performed for the Company; (b) property; or (c) money; and (2) 3.5 Share Purchase Warrants and Rights The 4. Share Registers 4.1 Central Securities Register (1) an agent to maintain the central securities register; and (2) 4.2 Closing Register The Company must not at any time close its central securities register. 5 one or more agents, including the agent which keeps the central securities register, as transfer agent for its shares or any class or series of its shares, as the case may be, and the same or another agent as registrar for its shares or such class or series ofits shares. Northwest Law Group MFP Vi 9 [2017-01-19] The Board may terminate such appointment of any agent at any time and may appoint another agent in its place. The Company must maintain in British Columbia a central securities register as required by the Corporations Act. The Board may appoint: consideration is provided to the Company for the issue of the share by one or more ofthe following; the value of the consideration received by the Company equals or exceeds the issue price set for the share under Article 3.1. Except as provided for by the Corporations Act, no share may be issued until it is fully paid. A share is fully paid when; Company may issue share purchase warrants, options and rights upon such terms and conditions as the Board determines. 3.3 Brokerage The Company may pay such brokerage fee or other consideration as may be lawful for or in cormection with the sale or placement ofits securities. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img008.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Share Transfers (1) a duly signed instrument oftransfer in respect ofthe share; and (2) (3) 5.2 Form ofInstrument ofTransfer I 5.3 Transferor Remains Shareholder 5.4 Signing of Instrument ofTransfer in the name ofthe person named as transferee in that instrument oftransfer; or (1) (2) 5.5 Enquiry as to Title Not Required 6 Except to the extent that the Corporations Act otherwise provides, the transferor of shares is deemed to remain the holder of the shares until the name of the transferee is entered in the Company's central securities register in respect ofthe transfer. if a non-transferable written acknowledgment of the shareholder's right to obtain a share certificate has been issued by the Company in respect of the share to be transferred, that acknowledgment. if no person is named as transferee in that instrument oftransfer, in the name ofthe person on whose behalf the instrument is deposited for the purpose of having the transfer registered. Northwest Law Group MFP v19 [2017-01-19] If a shareholder, or the shareholder's duly authorized attorney, signs an instrument oftransfer in respect of shares registered in the name of the shareholder, the signed instrument of transfer constitutes a complete and sufficient authority to the Company and its Directors, officers and agents to register the number of shares specified in the instrument oftransfer or specified in any other manner, or, if no number is specified, all the shares represented by the share certificates or set out in the written acknowledgments deposited with the instrument oftransfer: The instrument of transfer in respect of any share ofthe Company must be either in the form, if any, on the back of the Company's share certificates or in any other form that may be approved by the Board. if a share certificate has been issued by the Company in respect of the share to be transferred, that share certificate; or Neither the Company nor any Director, officer or agent ofthe Company is bound to inquire into the title ofthe person named in the instrument oftransfer as transferee or, if no person is named as transferee in the instrument of transfer, of the person on whose behalf the instrument is deposited for the purpose of having the transfer registered or is liable for any claim related to registering the transfer by the shareholder or by any intermediate owner or holder of the shares, of any interest in the shares, of any share certificate representing such shares or of any written acknowledgment of a right to obtain a share certificate for such shares. 5.1 Registering Transfers A transfer of a share ofthe Company must not be registered unless the Company has received: |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img009.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6 Transfer Fee 6. Transmission of Shares 6.1 7. Purchase, Redemption or otherAcquisition of Shares 7.1 7.2 (1) (2) 7.3 (1) is not entitled to vote the share at a meeting ofits shareholders; (2) must not pay a dividend in respect ofthe share; and 7 There must be paid to the Company, in relation to the registration of any transfer, the amount, if any, determined by the Board. Northwest Law Group MFP v19 [2017-01-19] 6.2 Rights of Legal Personal Representative The Legal Personal Representative has the same rights, privileges and obligations that attach to the shares held by the shareholder, including the right to transfer the shares in accordance with these Articles, provided the documents required by the Corporations Act and the Board have been deposited with the Company. Legal Personal Representative Recognized on Death In case ofthe death of a shareholder, the Legal Personal Representative, or ifthe shareholder was a joint holder, the surviving joint holder, will be the only person recognized by the Company as having any title to the shareholder's interest in the shares. Before recognizing a person as a Legal Personal Representative, the Board may require proof of appointment by a court of competent jurisdiction, a grant of letters probate, letters of administration or such other evidence or documents as the Board considers appropriate. Company Authorized to Purchase, Redeem or Otherwise Acquire Shares Subject to Article 7.2 and the special rights and restrictions attached to the shares of any class or series, the Company, if authorized by a resolution of the Board, may purchase, redeem or otherwise acquire any ofits shares at the price and upon the terms specified in such resolution. the Company is insolvent; or making the payment or providing the consideration would render the Company insolvent. Purchase, Redemption or Other Acquisition When Insolvent The Company must not make a payment or provide any other consideration to purchase, redeem or otherwise acquire any ofits shares ifthere are reasonable grounds for believing that: I I Sale and Voting of Purchased, Redeemed and Acquired Shares If the Company retains a share purchased, redeemed or otherwise acquired by it, the Company may sell, gift or otherwise dispose ofthe share, but, while such share is held by the Company, it: |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img010.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) must not make any other distribution in respect ofthe share. 8. Borrowing Powers (1) (2) (3) (4) 9. Alterations 9.1 Alteration ofAuthorized Share Structure Subject to Article 9.2, the Company may by: I (1) a resolution ofthe Board (c) subdivide or consolidate all or any ofits unissued, or fully paid issued, shares; and I (c) alter the identifying name of any ofits shares. (2) an ordinary resolution: (b) ifthe Company is authorized to issue shares of a class ofshares with par value: (i) decrease the par value ofthose shares; and 8 I I guarantee the repayment of money by any other person or the performance of any obligation of any other person; and (a) create one or more classes or series of shares or, if none of the shares of a class or series ofshares are allotted or issued, eliminate that class or series ofshares; and issue bonds, debentures and other debt obligations either outright or as security for any liability or obligation of the Company or any other person and at such discounts or premiums and on such other terms as the Board considers appropriate; mortgage, charge, whether by way ofspecific or floating charge, grant a security interest in, or give other security on, the whole or any part of the present and future assets and undertaking ofthe Company. (a) increase, reduce or eliminate the maximum number of shares that the Company is authorized to issue out of any class or series ofshares or establish a maximum number ofshares that the Company is authorized to issue out of any class or series ofshares for which no maximum is established; Northwest Law Group MFPvl 9 [2017-01-19] I I I (b) change all or any of its unissued, or fully paid issued, shares with par value into shares without par value or any of its unissued shares without par value into shares with par value; The Company, if authorized by the Board, may: borrow money in the manner and amount, on the security, from the sources and on the terms and conditions that the Board considers appropriate; |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img011.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 Special Rights and Restrictions (1) (2) 9.3 9.4 Other Alterations 10. Meetings of Shareholders 9 (3) a special resolution, otherwise alter its shares or authorized share structure when required or permitted to do so by the Corporations Act. If the Corporations Act does not specify the type of resolution and these Articles do not specify another type ofresolution, the Company may alter these Articles by a resolution ofthe Board. (ii) if none of the shares ofthat class of shares are allotted or issued, increase the par value ofthose shares. Northwest taw Group MFP v19 [2017-01-19] 10.2 Resolution Instead ofAnnual General Meeting If all the shareholders entitled to vote at an annual general meeting consent by a unanimous resolution under the Corporations Act to all of the business required to be transacted at that annual general meeting, the meeting is deemed to have been held on the date of the unanimous resolution. The shareholders must, in any unanimous resolution passed under this Article 10.2, select as the Company's annual reference date a date that would be appropriate for the holding of the applicable annual general meeting. 10.1 Annual General Meetings The Company must, unless an annual general meeting is deferred or waived in accordance with the Corporations Act, hold its first annual general meeting within 18 months after the date on which it was incorporated or otherwise created and recognized, and after that must hold an annual general meeting at least once in each calendar year and not more than 15 months after the last annual reference date at such time and place as may be determined by the Board. The Company may by ordinary resolution: create special rights or restrictions for, and attach those special rights or restrictions to, the shares of any class or series ofshares, imless any ofthose shares have been issued in which case the Company may do so only by special resolution; or vary or delete any special rights or restrictions attached to the shares of any class or series of shares, unless any of those shares have been issued in which case the Company may do so only by special resolution. Change of Name The Company may, by a resolution ofthe Board, authorize an alteration of its Notice ofArticles to change its name or adopt or change any translation ofthat name. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img012.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 Calling and Location of Meetings of Shareholders 10.4 Notice for Meetings of Shareholders (1) if and for so long as the Company is a public company, 21 days; and (2) otherwise, 10 days. 10.5 Record Date for Notice (1) if and for so long as the Company is a public company, 21 days; and (2) otherwise, 10 days. 10.6 Record Date for Voting 10.7 Failure to Give Notice and Waiver of Notice 10 The accidental omission to send notice of any meeting to, or the non-receipt of any notice by, any of the persons entitled to notice does not invalidate any proceedings at that meeting. Any person entitled to notice of a meeting of shareholders may, in writing or otherwise, waive or reduce the period of notice ofsuch meeting. The Board may set a date as the record date for the purpose of determining shareholders entitled to vote at any meeting of shareholders. The record date must not precede the date on which the meeting is to be held by more than two months or, in the case of a general meeting requisitioned by shareholders under the Corporations Act, by more than four months. If no record date is set, the record date is 5:00 p.m. on the day immediately preceding the first date on which the notice is sent or, if no notice is sent, the beginning ofthe meeting. If no record date is set, it is 5:00 p.m. on the business day immediately preceding the first date on which the notice is sent or, if no notice is sent, the beginning ofthe meeting. The Board may, whenever it thinks fit, call a meeting of shareholders to be held in British Columbia, Calgary, Alberta or Toronto, Ontario or at such other location as may be approved by the Registrar ofCompanies at such time and place as may be detennined by the Board. Northwest Law Group MFPwl 9 [2017-01-19] The Board may set a date as the record date for the purpose of determining shareholders entitled to notice of any meeting ofshareholders. The record date must not precede the date on which the meeting is to be held by more than two months or, in the case of a general meeting requisitioned by shareholders under the Corporations Act, by more than four months. The record date must not precede the date on which the meeting is held by fewer than: The Company must send notice ofthe date, time and location of any meeting ofshareholders, in the manner provided in these Articles, or in such other manner, if any, as may be prescribed by ordinary resolution (whether previous notice of the resolution has been given or not), to each shareholder entitled to attend the meeting, to each Director and to the auditor of the Company, unless these Articles otherwise provide, at least the following number of days before the meeting: 10.8 Notice of Special Business at Meetings of Shareholders If a meeting of shareholders is to consider special business within the meaning of Article 11.1, the notice ofmeeting must: |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img013.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Proceedings at Meetings of Shareholders 11.1 Special Business At a meeting ofshareholders, the following business is special business: (2) at an annual general meeting, all business is special business except for the following: (a) business relating to the conduct of or voting at the meeting; (d) the setting or changing ofthe number of Directors; 11 (b) during statutory business hours on any one or more specified days before the day set for the holding ofthe meeting. Northwest Law Group MFPvl 9 [2017-01-19] (1) at a meeting of shareholders that is not an annual general meeting, all business is special business except business relating to the conduct of or voting at the meeting; (b) consideration of any financial statements ofthe Company presented to the meeting; (c) consideration of any reports ofthe Board or auditor; (e) the election or appointment of Directors; (f) the appointment of an auditor; (1) state the general nature ofthe special business; and (2) if the special business includes considering, approving, ratifying, adopting or authorizing any document or the signing of or giving of effect to any document, have attached to it a copy of the document or state that a copy ofthe document will be available for inspection by shareholders: (a) at the Company's records office, or at such other reasonably accessible location in British Columbia as is specified in the notice; and 11.2 Special Majority The majority of votes required for the Company to pass a special resolution at a meeting of shareholders is two-thirds ofthe votes cast on the resolution. (g) the setting ofthe remuneration of an auditor; (h) business arising out of a report of the Board not requiring the passing of a special resolution or an exceptional resolution; and (i) any other business which, under these Articles or the Corporations Act, may be transacted at a meeting of shareholders without prior notice of the business being given to the shareholders. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img014.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.8 Chair The following individuals are entitled to preside as Chair at a meeting ofshareholders: 12 I I (2) in the case of any other meeting ofshareholders, the meeting stands adjourned to the same day in the next week at the same time and place. Northwest taw Group MFP v19 [2017-01-19] 11.7 Lack of Quorum at Succeeding Meeting If, at the meeting to which the meeting referred to in Article 11.6(2) was adjourned, a quorum is not present within one-half hour from the time set for the holding of the meeting, the person or persons present and being, or representing by proxy, one or more shareholders entitled to attend and vote at the meeting constitute a quorum. 11.5 Requirement of Quorum No business, other than the election of a Chair of the meeting and the adjournment of the meeting, may be transacted at any meeting of shareholders unless a quorum of shareholders entitled to vote is present at the commencement of the meeting, but such quorum need not be present throughout the meeting. 11.4 Other Persons May Attend The Directors, the President (if any), the Secretary (if any), the assistant Secretary (if any), any lawyer for the Company, the auditor ofthe Company and any other persons invited by the Board are entitled to attend any meeting of shareholders, but if any of those persons does attend a meeting ofshareholders, that person is not to be counted in the quorum and is not entitled to vote at the meeting unless that person is a shareholder or proxy holder entitled to vote at the meeting. 11.3 Quorum Subject to the special rights and restrictions attached to the shares of any class or series ofshares, the quorum for the transaction of business at a meeting of shareholders is two shareholders present in person or represented by proxy holding or representing at least 5% ofthe outstanding shares. 11.6 Lack of Quorum If, within one-half hour from the time set for the holding of a meeting ofshareholders, a quorum is not present: (1) in the case of a general meeting requisitioned by shareholders, the meeting is dissolved, and (1) the Chair ofthe Board, if any; or (2) if the Chair of the Board is absent or unwilling to act as Chair of the meeting, the first of the following individuals to agree to act as Chair: the President, the Chief Executive Officer, the Chief Financial Officer, a Vice-President, or the Secretary, if any. Amended pursuant to annual general meeting minutes of the voting shareholders of the Company dated April 23, 2026. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img015.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.9 Selection ofAlternate Chair 11.11 Notice ofAdjourned Meeting 11.13 Declaration of Result 11.14 Motion Need Not be Seconded 13 No motion proposed at a meeting of shareholders need be seconded unless the Chair of the meeting rules otherwise, and the Chair of any meeting of shareholders is entitled to propose or second a motion. If, at any meeting of shareholders, the Chair of the Board or President are not present within 15 minutes after the time set for holding the meeting, or ifthe Chair ofthe Board and the President are unwilling to act as Chair of the meeting, or ifthe Chair of the Board and the President have advised the Secretary, if any, or any Director present at the meeting, that he or she will not be present at the meeting, one of the Chief Executive Officer, the Chief Financial Officer, a Vice-President, the Secretary or the Company's legal counsel may act as Chair of the meeting and, failing them, the Directors present must choose one oftheir number to be Chair ofthe meeting or if all of the Directors present decline to take the Chair or fail to so choose or if no Director is present, the shareholders entitled to vote at the meeting who are present in person or by proxy may choose any person present at the meeting to Chair the meeting. The Chair of a meeting of shareholders must declare to the meeting the decision on every question in accordance with the result ofthe show of hands or the poll, as the case may be, and that decision must be entered in the minutes of the meeting. A declaration of the Chair that a resolution is carried by the necessary majority or is defeated is, unless a poll is directed by the Chair or demanded under Article 11.12, conclusive evidence without proof of the number or proportion ofthe votes recorded in favour of or against the resolution. It is not necessary to give any notice of an adjourned meeting or of the business to be transacted at an adjourned meeting ofshareholders except that, when a meeting is adjourned for 30 days or more, notice ofthe adjourned meeting must be given as in the case ofthe original meeting. Northwest Law Group MFPvl 9 [2017-01-19] 11.12 Decisions by Show of Hands or Poll Every motion put to a vote at a meeting of shareholders will be decided on a show of hands unless a poll, before or on the declaration of the result of the vote by show of hands, is directed by the Chair or demanded by at least one shareholder entitled to vote who is present in person or by proxy. 11.10 Adjournments The Chair of a meeting ofshareholders may, and if so directed by the meeting must, adjourn the meeting from time to time and place to place, but no business may be transacted at any adjourned meeting other than the business left unfinished at the meeting from which the adjournment took place. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img016.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.15 Casting Vote 11.16 Manner of Taking Poll Subject to Article 11.17, if a poll is duly demanded at a meeting ofshareholders: the poll must be taken: (1) (b) in the manner, at the time and at the place that the Chair ofthe meeting directs; (2) (3) the demand for the poll may be withdrawn by the person who demanded it. 11.17 Demand for Poll on Adjournment 11.18 Chair Must Resolve Dispute 11.19 Casting of Votes 11.20 Demand for Poll on Election of Chair 11.21 Demand for Poll Not to Prevent Continuance of Meeting 11.22 Retention of Ballots and Proxies 14 No poll may be demanded in respect ofthe vote by which a Chair of a meeting ofshareholders is elected. In case of an equality of votes, the Chair of a meeting ofshareholders does not, either on a show of hands or on a poll, have a second or casting vote in addition to the vote or votes to which the Chair may be entitled as a shareholder. In the case of any dispute as to the admission or rejection of a vote given on a poll, the Chair of the meeting must determine the dispute, and the Chair's determination made in good faith is final and conclusive. The demand for a poll at a meeting of shareholders does not, unless the Chair of the meeting so rules, prevent the continuation of a meeting for the transaction of any business other than the question on which a poll has been demanded. A poll demanded at a meeting of shareholders on a question of adjournment must be taken immediately at the meeting. (a) at the meeting, or within seven days after the date of the meeting, as the Chair of the meeting directs; and the result of the poll is deemed to be the decision of the meeting at which the poll is demanded; and The Company must, for at least three months after a meeting of shareholders, keep each ballot cast on a poll and each proxy voted at the meeting at its records office, and, during that period, make them available for inspection during normal business hours by any shareholder or Northwest Law Group MFPvl 9 [2017-01-19] On a poll, a shareholder entitled to more than one vote need not cast all the votes in the same way. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img017.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. Votes of Shareholders 12.2 Votes of Persons in Representative Capacity I 12.4 Legal Personal Representatives as Joint Shareholders 12.5 Representative of a Corporate Shareholder 15 proxyholder entitled to vote at the meeting. At the end ofsuch three month period, the Company may destroy such ballots and proxies. A person who is not a shareholder may vote at a meeting of shareholders, whether on a show of hands or on a poll, and may appoint a proxy holder to act at the meeting, if, before doing so, the person satisfies the Chair of the meeting, or the Board, that the person is a Legal Personal Representative or a trustee in bankruptcy for a shareholder who is entitled to vote at the meeting. Two or more Legal Personal Representatives of a shareholder in whose sole name any share is registered are, for the purposes ofArticle 12.3, deemed to be joint shareholders. (2) ifmore than one ofthe joint shareholders is present at any meeting, personally or by proxy, and more than one of them votes in respect of that share, then only the vote of the joint shareholder present whose name stands first on the central securities register in respect of the share will be counted. Northwest Law Group MFPvt 9 [2017-01-19] (2) on a poll, every shareholder entitled to vote on the matter has one vote in respect of each share entitled to be voted on the matter and held by that shareholder and may exercise that vote either in person or by proxy. If a corporation, that is not a subsidiary of the Company, is a shareholder, that corporation may appoint a person to act as its representative at any meeting ofshareholders ofthe Company, and: (1) for that purpose, the instrument appointing a representative must: (a) be received at the registered office of the Company or at any other place specified, in the notice calling the meeting, for the receipt of proxies, at least the number of 12.1 Number of Votes by Shareholder or by Shares Subject to any special rights or restrictions attached to any shares and to the restrictions imposed on joint shareholders under Article 12.3: (1) on a vote by show of hands, every person present who is a shareholder or proxy holder and entitled to vote on the matter has one vote; and 12.3 Votes by Joint Holders Ifthere are joint shareholders registered in respect of any share: (1) any one ofthe joint shareholders may vote at any meeting, either personally or by proxy, in respect ofthe share as ifthat joint shareholder were solely entitled to it; or |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img018.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) (2) (3) 16 Northwest taw Group MFPvl 9 [2017-01-19] 12.6 Proxy Provisions Do Not Apply to All Companies Articles 12.9 and 12.12 do not apply to the Company if and for so long as it is a public company or a pre-existing reporting company which has the Statutory Reporting Company Provisions as part ofits Articles or to which the Statutory Reporting Company Provisions apply. business days specified in the notice for the receipt ofproxies, or ifno number of days is specified, two business days before the day set for the holding ofthe meeting; or (b) be provided, at the meeting, to the Chair of the meeting or to a person designated by the Chair ofthe meeting; 12.8 Alternate Proxy Holders A shareholder may appoint one or more alternate proxy holders to act in the place of an absent proxy holder. 12.7 Appointment of Proxy Holders Every shareholder of the Company, including a corporation that is a shareholder but not a subsidiary ofthe Company, entitled to vote at a meeting ofshareholders ofthe Company may, by proxy, appoint one or more proxy holders to attend and act at the meeting in the manner, to the extent and with the powers confened by the proxy. (2) if a representative is appointed under this Article 12.5: (a) the representative is entitled to exercise in respect of and at that meeting the same rights on behalf ofthe corporation that the representative represents as that corporation could exercise if it were a shareholder who is an individual, including, without limitation, the right to appoint a proxy holder; and (b) the representative, if present at the meeting, is to be counted for the purpose of forming a quorum and is deemed to be a shareholder present in person at the meeting. Evidence of the appointment of any such representative may be sent to the Company by hand, mail, fax or any other method oftransmitting wTitten instruments. 12.9 When Proxy Holder Need Not Be Shareholder Subject to Article 12.6, a person must not be appointed as a proxy holder unless the person is a shareholder, although a person who is not a shareholder may be appointed as a proxy holder if: the person appointing the proxy holder is a corporation or a representative of a corporation appointed under Article 12.5; the Company has at the time of the meeting for which the proxy holder is to be appointed only one shareholder entitled to vote at the meeting; or the shareholders present in person or by proxy at and entitled to vote at the meeting for which the proxy holder is to be appointed, by a resolution on which the proxy holder is not entitled to vote but in respect of which the proxy holder is to be counted in the quorum, permit the proxy holder to attend and vote at the meeting. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img019.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.10 Deposit of Proxy (2) by the Chair ofthe meeting, before the vote is taken. [Signature ofshareholder} [Name ofshareholder—printed} [Date} 17 A proxy for a meeting ofshareholders must: (1) be received at the registered office of the Company or at any other place specified, in the notice calling the meeting, for the receipt of proxies, at least the number of business days specified in the notice, or if no number of days is specified, two business days before the day set for the holding ofthe meeting; or 12.11 Validity of Proxy Vote A vote given in accordance with the terms of a proxy is valid notwithstanding the death or incapacity of the shareholder giving the proxy and despite the revocation of the proxy or the revocation ofthe authority under which the proxy is given, unless notice in writing ofthat death, incapacity or revocation is received: (1) at the registered office of the Company, at any time up to and including the last business day before the day set for the holding ofthe meeting at which the proxy is to be used; or (2) unless the notice provides otherwise, be provided, at the meeting, to the Chair of the meeting or to a person designated by the Chair ofthe meeting. A proxy may be sent to the Company by hand, mail, fax or any other method of transmitting written instruments. Northwest Law Group MFP v19 [2017-11-15] 12.12 Form of Proxy Subject to Article 12.6, a proxy, whether for a specified meeting or otherwise, must be either in the following form or in any other form approved by the Board or the Chair ofthe meeting: NERVGEN PHARMA CORP, (the "Company") The undersigned, being a shareholder ofthe Company, hereby appoints [name} or, failing that person, [name}, as proxy holder for the undersigned to attend, act and vote for and on behalf of the undersigned at the meeting of shareholders of the Company to be held on [date} and at any adjournment of that meeting. Number ofshares in respect of which this proxy is given (if no number is specified, then this proxy if given in respect of all shares registered in the name of the shareholder): |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img020.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.13 Revocation of Proxy (2) provided, at the meeting, to the Chair ofthe meeting. 12.14 Revocation of Proxy Must Be Signed 12.15 Production of Evidence ofAuthority to Vote 1 13. Directors 13.1 First Directors; Number of Directors (1) (2) (b) under Article 14.5; or (3) ifthe Company is not a public company, the most recent number ofDirectors set: 18 if the Company is a public company, the greater of three and the most recent number of Directors set: (2) a corporation, by the corporation or a representative appointed for the corporation under Article 12.5. An instrument referred to in Article 12.13 must be signed, ifthe shareholder for whom the proxy holder is appointed is: subject to paragraphs (2) and (3), the number ofDirectors that is equal to the number ofthe Company's first Directors; (1) an individual, by the shareholder or the shareholder's legal personal representative or trustee in bankruptcy; or The Chair of any meeting of shareholders may, but need not, inquire into the authority of any person to vote at the meeting and may, but need not, demand from that person production of evidence as to the existence ofthe authority to vote. Northwest taw Group MFP Vi 9 [2017-01-19] The Directors, or the first Directors after the Company is incorporated, amalgamated or continued, are the persons designated as directors of the Company in the Notice ofArticles that applies to the Company when it is recognized under the Corporations Act. The number of Directors, excluding additional Directors appointed under Article 14.9, is set at: (a) by ordinary resolution (whether or not previous notice of the resolution was given); and (a) by ordinary resolution (whether or not previous notice of the resolution was given); and Every proxy may be revoked by an instrument in writing that is: (1) received at the registered office of the Company at any time up to and including the last business day before the day set for the holding of the meeting at which the proxy is to be used; or |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img021.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) under Article 14.5. I 13.2 Change in Number of Directors Ifthe number of Directors is set under Articles 13. l(2)(a) or 13.1 (3)(a): (1) (2) 13.3 Directors' Acts Valid Despite Vacancy 13.4 Qualifications of Directors 13.5 Remuneration of Directors 13.6 Reimbursement of Expenses of Directors 13.7 Special Remuneration for Directors 13.8 Gratuity, Pension or Allowance on Retirement of Director 19 Unless otherwise determined by ordinary resolution, the Board may authorize the Company to pay a gratuity or pension or allowance on retirement to any Director who has held any salaried office or place of profit with the Company or to his or her spouse or dependants and may make the shareholders may elect or appoint the Directors needed to fill any vacancies in the Board up to that number; and The Company must reimburse each Director for the reasonable expenses he or she may incur in and about the business ofthe Company. If any Director performs any professional or other services for the Company that in the opinion of the Board are outside the ordinary duties of a Director, or if any Director is otherwise specially occupied in or about the Company's business, he or she may be paid remuneration fixed by the Board, or, at the option ofthat Director, fixed by ordinary resolution, and such remuneration may be either in addition to, or in substitution for, any other remuneration that he or she may be entitled to receive. ifthe shareholders do not elect or appoint the Directors needed to fill any vacancies in the Board up to that number contemporaneously with the setting of that number, then the Directors may appoint, or the shareholders may elect or appoint, Directors to fill those vacancies. A Director is not required to hold a share of the Company as qualification for such office but must be qualified as required by the Corporations Act to become, act or continue to act as a Director. The Directors are entitled to the remuneration for acting as directors of the Company, as the Board may determine. If the Board so decides, the remuneration, if any, of the Directors will be determined by the Company's shareholders. That remuneration may be in addition to any salary or other remuneration paid to any officer or employee of the Company as such, who is also a Director. Northwest Law Group MFPvig [2017-01-19] An act or proceeding of the Board is not invalid merely because fewer than the number of Directors set or otherwise required under these Articles is in office. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img022.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. Election and Removal of Directors 14.1 Election at Annual General Meeting 14.2 Consent to be a Director No election, appointment or designation of an individual as a Director is valid unless: (1) (2) (3) 14.3 Advance Notice of Nominations for Election as Directors (1) (2) (b) (c) 1 20 contributions to any fund and pay premiums for the purchase or provision of any such gratuity, pension or allowance. that individual is elected or appointed at a meeting at which the individual is present and the individual does not refuse, at the meeting, to be a Director; or "Applicable Securities Laws" means the applicable securities legislation of each relevant province and territory of Canada, as amended from time to time, the rules, regulations and forms made or promulgated under any such statute and the published national instruments, multilateral instruments, policies, bulletins and notices of the securities commission and similar regulatory authority of each province and territory ofCanada; Northwest Law Group MFPv19 [2017-01-19] (1) the shareholders entitled to vote at the annual general meeting for the election ofDirectors must elect, or in the unanimous resolution appoint, a Board consisting of the number of Directors set under these Articles; and (2) all the Directors cease to hold office immediately before the election or appointment of Directors under paragraph (1), but are eligible for re-election or re-appointment. At every annual general meeting and in every unanimous resolution contemplated by Article 10.2: that individual consents to be a Director in the manner provided for in the Corporations Act; with respect to first Directors, the designation is otherwise valid under the Corporations Act. "Meeting" means an annual general or special meeting of the common shareholders ofthe Company; and "Public Announcement" means disclosure in a press release reported by a national news service in Canada, or in a document publicly filed by the Company under its profile on the System of Electronic Document Analysis and Retrieval at www.sedar.com. This Article 14.3 shall only apply ifthe Company is a public company. In this Article 14.3, the following terms shall have the following meanings: (a) |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img023.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) (c) (4) (5) (a) (b) (6) (a) the name, age, business address and residential address ofthe person; (i) 21 In no event shall any adjournment or postponement of a Meeting or the announcement thereof commence a new time period for the giving of a Nominating Shareholder's notice as described above. Northwest taw Group MFP v19 [2017-01-19] (a) (b) To be in proper written form, a Nominating Shareholder's notice to the Secretary of the Company must set forth, as to: each person whom the Nominating Shareholder proposes to nominate for election as a Director: In addition to any other applicable requirements, for a nomination to be made by a Nominating Shareholder, the Nominating Shareholder must have given timely notice thereof in proper written form to the Secretary ofthe Company at the principal executive offices ofthe Company. To be timely, a Nominating Shareholder's notice to the Secretary of the Company must be given, in the case of a Meeting which is: an annual general meeting of shareholders, not less than 35 days and not more than 60 days before the date of the Meeting but if the Meeting is to be held on a date that is less than 50 days after the date (the "Announcement Date") on which the first Public Announcement ofthe date ofthe Meeting was made, notice by the Nominating Shareholder must be given not later than the close of business on the 10' day after the Announcement Date; and a special meeting of shareholders (which is not also an annual general meeting) called for the purpose of electing Directors (whether or not called for any other purpose), not later than the close of business on the 15\*\*' day following the Announcement Date. Only persons nominated in accordance with the following procedures shall be eligible for election as Directors. Nominations of persons for election to the Board at any Meeting, including any special meeting ofshareholders if one ofthe purposes for which the special meeting was called was the election ofDirectors, may be made: by or at the direction ofthe Board, including pursuant to a notice of Meeting; by or at the direction or request of one or more shareholders pursuant to a proposal made in accordance with the provisions of the Corporations Act, or a requisition of the shareholders made in accordance with the provisions of the Corporations Act; or by any person (a "Nominating Shareholder") who (i) at the close of business on the date of the giving ofthe notice provided for below in this Article 14.3 and on the record date for notice of such Meeting, is entered in the Company's central securities register as a holder of one or more shares carrying the right to vote at such Meeting or who beneficially owns shares that are entitled to be voted at such Meeting, and (ii) complies with the notice procedures set forth below in this Article 14.3. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img024.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) (iii) (iv) (b) (7) (8) 14.4 Failure to Elect or Appoint Directors If: (1) (2) (22 The Company may require any proposed nominee to furnish such other information as may reasonably be required by the Company to determine the eligibility ofsuch proposed nominee to serve as an independent Director or that could be material to a reasonable shareholder's understanding of the independence, or lack thereof, of such proposed nominee. any other information relating to the person that would be required to be disclosed in a dissident's proxy circular in connection with solicitations of proxies for election of Directors pursuant to the Corporations Act and Applicable Securities Laws; and No person shall be eligible for election as a Director unless nominated in accordance with the provisions of this Article 14.3 but nothing in this Article 14.3 shall be deemed to preclude discussion by a shareholder (as distinct from the nomination of Directors) at a Meeting of any matter in respect of which it would have been entitled to submit a proposal pursuant to the provisions of the Corporations Act. The Chairman of the Meeting shall have the power and duty to determine whether a nomination was made in accordance with the procedures set forth in the foregoing provisions and, if any proposed nomination is not in compliance with such foregoing provisions, to declare that such defective nomination shall be disregarded. The Board may, in its sole discretion, waive any requirement in or provision of this Article 14.3. the Company fails to hold an annual general meeting, and all the shareholders who are entitled to vote at an annual general meeting fail to pass the unanimous resolution contemplated by Article 10.2, on or before the date by which the annual general meeting is required to be held under the Corporations Act; or Northwest Law Group MFP v19 [2017-01-19J the Nominating Shareholder giving the notice, any proxy, contract, arrangement, understanding or relationship pursuant to which such Nominating Shareholder has a right to vote any shares of the Company and any other information relating to such Nominating Shareholder that would be required to be made in a dissident's proxy circular in connection with solicitations of proxies for election of Directors pursuant to the Corporations Act and Applicable Securities Laws. the principal occupation or employment ofthe person; the class or series and number of shares of the Company which are controlled or which are owned beneficially or ofrecord by the person as of the record date for the Meeting (if such date shall then have been made publicly available and shall have occurred) and as of the date of such notice; and the shareholders fail, at the annual general meeting or in the unanimous resolution contemplated by Article 10.2, to elect or appoint any Directors; then each Director then in office continues to hold office until the earlier of: |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img025.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.6 Directors May Fill Casual Vacancies Any casual vacancy occurring in the Board may be filled by the Board. 14.7 Remaining Directors Power to Act 14.8 Shareholders May Fili Vacancies 14.9 Additional Directors 23 The Board may act notwithstanding any vacancy in the Board, but if the Company has fewer Directors in office than the number set pursuant to these Articles as the quorum of Directors, the Board may only act for the purpose of appointing Directors up to that number or ofsummoning a meeting of shareholders for the purpose of filling any vacancies on the Board or for any other purpose. If the Company has no Directors or fewer Directors in office than the number set pursuant to these Articles as the quorum of Directors, the shareholders may elect or appoint Directors to fill any vacancies on the Board. Any Director so appointed ceases to hold office immediately before the next election or appointment ofDirectors under Article 14.1(1), but is eligible for re-election or re-appointment. Notwithstanding Articles 13.1 and 13.2, between annual general meetings or unanimous resolutions contemplated by Article 10.2, the Board may appoint one or more additional Directors, but the number of additional Directors appointed under this Article 14.9 must not at any time exceed: (1) one-third of the number of first Directors, if, at the time ofthe appointments, one or more ofthe first Directors have not yet completed his or her first term of office; or (2) in any other case, one-third of the number of the current Directors who were elected or appointed as Directors other than under this Article 14.9. Northwest taw Group MFPvt 9 [2017-01-19] (3) the date on which his or her successor is elected or appointed; and (4) the date on which he or she otherwise ceases to hold office under the Corporations Act or these Articles. 14.5 Places of Retiring Directors Not Filled If, at any meeting ofshareholders at which there should be an election of Directors, the places of any ofthe retiring Directors are not filled by that election, those retiring Directors who are not re-elected and who are asked by the newly elected Directors to continue in office will, if willing to do so, continue in office to complete the number of Directors set pursuant to these Articles at such time until further new Directors are elected at a meeting of shareholders convened for that purpose. If any such election or continuance of Directors does not result in the election or continuance ofthe number of Directors set pursuant to these Articles at such time, the number of Directors of the Company is deemed to be set at the number of Directors actually elected or continued in office. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img026.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.10 Ceasing to be a Director A Director ceases to be a Director when: the term of office ofthe Director expires; (1) (2) the Director dies; (3) (4) the Director is removed from office pursuant to Articles 14.11 or 14.12. 14.11 Removal of a Director by Shareholders I I 15. Alternate Directors 24 The Company may remove any Director before the expiration of his or her term of office by special resolution. In that event, the shareholders may elect, or appoint by ordinary resolution, another individual as a Director to fill the resulting vacancy. If the shareholders do not elect or appoint a Director to fill the resulting vacancy contemporaneously with the removal, then the Board may appoint or the shareholders may elect, or appoint by ordinary resolution, a Director to fill that vacancy. the Director resigns as a Director by notice in writing provided to the Company or a lawyer for the Company; or Northwest taw Group MFPvl9 [2017-01-19] 14.12 Removal of a Director by the Board The Board may remove any Director before the expiration of his or her term of office if the Director is convicted of an indictable offence, convicted by a court of an offence under or found in breach and sanctioned by a securities regulatory authority of any Canadian or United States securities legislation, or if the Director ceases to be qualified to act as a Director of a company and does not promptly resign, and the Board may appoint a Director to fill the resulting vacancy. 15.2 Notice of Meetings Every alternate Director so appointed is entitled to notice of meetings of the Board and of committees of the Board of which his or her appointor is a member and to attend and vote as a Director at any such meetings at which his or her appointor is not present. 15.1 Appointment ofAlternate Director Any Director (an "appointor") may by notice in writing received by the Company appoint any person (an "appointee") who is qualified to act as a Director to be his or her alternate to act in his or her place at meetings ofthe Board or committees ofthe Board at which the appointor is not present unless (in the case of an appointee who is not a Director) the Board has reasonably disapproved the appointment ofsuch person as an alternate Director and have given notice to that effect to the appointor within a reasonable time after the notice of appointment is received by the Company. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img027.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I 15.3 Alternate for More Than One DirectorAttending Meetings i (1) (2) (3) (4) 15.4 Consent Resolutions 15.5 Alternate Director Not an Agent Every alternate Director is deemed not to be the agent ofhis or her appointor. 15.6 Revocation ofAppointment ofAlternate Director 15.7 Ceasing to be an Alternate Director The appointment of an alternate Director ceases when: his or her appointor ceases to be a Director and is not promptly re-elected or re-appointed; (1) (2) the alternate Director dies; (3) (4) the alternate Director ceases to be qualified to act as a Director; or (5) his or her appointor revokes the appointment ofthe alternate Director. 15.8 Remuneration and Expenses ofAlternate Director 25 the alternate Director resigns as an alternate Director by notice in writing provided to the Company or a lawyer for the Company; will be counted in determining the quorum for a meeting of a committee of Directors once for each of his or her appointors who is a member ofthat committee and, in the case of an appointee who is also a member of that committee as a Director, once more in that capacity; and has a separate vote at a meeting of a committee of Directors for each of his or her appointors who is a member ofthat committee and, in the case of an appointee who is also a member ofthat committee as a Director, an additional vote in that capacity. Northwest taw Group MFPvl 9 [2017-01-19] An appointor may at any time, by notice in writing received by the Company, revoke the appointment of an alternate Director appointed by them. The Company must reimburse an alternate Director for the reasonable expenses that would be properly reimbursed if he or she were a Director, and the alternate Director is entitled to receive A person may be appointed as an alternate Director by more than one Director, and an alternate Director: Every alternate Director, if authorized by the notice appointing them, may sign in place of his or her appointor any resolutions to be consented to in writing. will be counted in determining the quorum for a meeting of Directors once for each of his or her appointors and, in the case of an appointee who is also a Director, once more in that capacity; has a separate vote at a meeting of Directors for each of his or her appointors and, in the case of an appointee who is also a Director, an additional vote in that capacity; |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img028.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. Powers and Duties of Directors 16.1 Powers of Management 17. Disclosure of Interest of Directors and Officers 17.1 Obligation to Account for Profits 17.3 Interested Director Counted in Quorum I 26 A Director who holds a disclosable interest in a contract or transaction into which the Company has entered or proposes to enter and who is present at the meeting of Directors at which the contract or transaction is considered for approval may be counted in the quorum at the meeting whether or not the Director votes on any or all ofthe resolutions considered at the meeting. The Board must, subject to these Articles, manage or supervise the management ofthe business and affairs ofthe Company and has the authority to exercise all such powers ofthe Company as are not, by the Corporations Act or by these Articles, required to be exercised by the shareholders ofthe Company. Northwest Law Group MFP v19 [2017-01-19] from the Company such proportion, if any, of the remuneration otherwise payable to the appointor as the appointor may direct. A Director or senior officer who holds a disclosable interest (as that term is used in the Corporations Act) in a contract or transaction into which the Company has entered or proposes to enter is liable to account to the Company for any profit that accrues to the Director or senior officer under or as a result ofthe contract or transaction only if and to the extent provided in the Corporations Act. 16.2 Appointment ofAttorney of Company The Board may, by power of attorney or other instrument, under Seal if so required by law, appoint any person to be the attorney ofthe Company for such purposes, and with such powers, authorities and discretions (not exceeding those vested in or exercisable by the Directors under these Articles and excepting the power to fill vacancies in the Board, to remove a Director, to change the membership of, or fill vacancies in, any committee ofthe Board, to appoint or remove officers appointed by the Board and to declare dividends) and for such period, and with such remuneration and subject to such conditions as the Board may think fit. Any such power of attorney may contain such provisions for the protection or convenience of persons dealing with such attorney as the Board thinks fit. Any such attorney may be authorized by the Board to sub-delegate all or any ofthe powers, authorities and discretions vested in them. 17.2 Restrictions on Voting by Reason ofInterest A Director who holds a disclosable interest in a contract or transaction into which the Company has entered or proposes to enter is not entitled to vote on any Directors' resolution to approve that contract or transaction, unless all the Directors have a disclosable interest in that contract or transaction, in which case any or all ofthose Directors may vote on such resolution. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img029.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.4 Disclosure of Conflict ofInterest or Property 17.5 Director Holding Other Office in the Company 17.6 No Disqualification 17.7 Professional Services by Director or Officer 17.8 Director or Officer in Other Corporations 18. Proceedings of Directors 18.1 Meetings of Directors 18.2 Voting at Meetings 18.3 Chair of Meetings The following individual is entitled to preside as Chair at a meeting of Directors: 27 A Director or officer may be or become a Director, officer or employee of, or otherwise interested in, any person in which the Company may be interested as a shareholder or otherwise, and the Director or officer is not accountable to the Company for any remuneration or other benefits received by them as Director, officer or employee of, or from such interest in, such other person. Questions arising at any meeting of Directors are to be decided by a majority of votes and, in the case of an equality of votes, the Chair ofthe meeting does not have a second or casting vote. The Board may meet together for the conduct of business, adjourn and otherwise regulate its meetings as it thinks fit, and meetings of the Board held at regular intervals may be held at the place, at the time and on the notice, if any, as the Board may determine. A Director may hold any office or place of profit w ith the Company, other than the office of auditor ofthe Company, in addition to the office ofDirector for the period and on the terms (as to remuneration or otherwise) that the Board may determine. A Director or senior officer who holds any office or possesses any property, right or interest that could result, directly or indirectly, in the creation of a duty or interest that materially conflicts with that individual's duty or interest as a Director or senior officer, must disclose the nature and extent ofthe conflict as required by the Corporations Act. A Director or officer, or any person in which a Director or officer has an interest, may act in a professional capacity for the Company, except as auditor of the Company, and the Director or officer or such person is entitled to remuneration for professional services as if that Director or officer were not a Director or officer. No Director or intended Director is disqualified by such office from contracting with the Company either with regard to the holding of any office or place of profit the Director holds with the Company or as vendor, purchaser or otherwise, and no contract or transaction entered into by or on behalf of the Company in which a Director is in any way interested is liable to be voided for that reason. Northwest Law Group MFPvig [2017-01-19] |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img030.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) (2) (3) 18.6 Notice of Meetings (1) (2) the Director or alternate Director, as the case may be, has waived notice ofthe meeting. 1 28 the meeting is to be held immediately following a meeting of shareholders at which that Director was elected or appointed, or is the meeting of the Board at which that Director is appointed; or Northwest Law Group MFP v19 [2017-01-19] Other than for meetings held at regular intervals as determined by the Board pursuant to Article 18.1, reasonable notice of each meeting of the Board, specifying the place, day and time ofthat meeting must be given to each ofthe Directors and the alternate Directors by any method set out in Article 24.1. any other Director chosen by the Directors present if: (a) neither the Chair ofthe Board nor the President, if a Director, is present at the meeting within 15 minutes after the time set for holding the meeting; 18.5 Calling of Meetings A Director may, and the Secretary or an assistant Secretary ofthe Company, if any, on the request of a Director must, call a meeting ofthe Board at any time. the Chair ofthe Board, if any; in the absence ofthe Chair ofthe Board, the President, if any, ifthe President is a Director; or (b) neither the Chair of the Board nor the President, if a Director, is willing to Chair the meeting; or (c) the Chair of the Board and the President, if a Director, have advised the Secretary, if any, or any other Director, that he or she will not be present at the meeting. 18.4 Meetings by Telephone or Other Communications Medium A Director may participate in a meeting ofthe Board or of any committee ofthe Board in person or by telephone if all Directors participating in the meeting, whether in person or by telephone or other communications medium, are able to communicate with each other. A Director may participate in a meeting of the Board or of any committee of the Board by a communications medium other than telephone if all Directors participating in the meeting, whether in person or by telephone or other communications medium, are able to communicate with each other and if all Directors who wish to participate in the meeting agree to such participation. A Director who participates in a meeting in a manner contemplated by this Article 18.4 is deemed for all purposes of the Corporations Act and these Articles to be present at the meeting and to have agreed to participate in that manner. 18.7 When Notice Not Required It is not necessary to give notice of a meeting ofthe Board to a Director or an alternate Director if: |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img031.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.8 Meeting Valid Despite Failure to Give Notice 18.9 Waiver of Notice of Meetings 18.10 Quorum 18.11 Validity ofActs Where Appointment Defective 18.12 Consent Resolutions in Writing 29 The quorum necessary for the transaction of the business of the Board may be set by the Board and, if not so set, is deemed to be set at a majority ofthe Directors last elected or appointed. Any Director or alternate Director may send to the Company a document signed by them waiving notice of any past, present or future meeting or meetings of the Board and may at any time withdraw that waiver with respect to meetings held after that withdrawal. After sending a waiver with respect to all future meetings and until that waiver is withdrawn, no notice of any meeting of the Board need be given to that Director and, unless the Director otherwise requires by notice in writing to the Company, to his or her alternate Director, and all meetings ofthe Board so held are deemed not to be improperly called or constituted by reason of notice not having been given to such Director or alternate Director. Attendance of a Director or alternate Director at a meeting of the Directors is a waiver of entitlement to notice of the meeting, unless that Director or alternate Director attends the meeting for the purpose of objecting to the transaction of any business on the grounds the meeting was not lawfully called or is for an improper purpose. The accidental omission to give notice of any meeting of Directors to, or the non-receipt of any notice by, any Director or alternate Director, does not invalidate any proceedings at that meeting. Northwest Law Group MFP v19 [2017-01-19J An act of a Director is not invalid merely because of an irregularity in the election or appointment or a defect in the qualification ofthat Director. (2) in the case of a resolution to approve a contract or transaction in respect of which a Director has disclosed that he or she has or may have a disclosable interest, if each of the other Directors who are entitled to vote on the resolution consents to it in writing. A consent in writing under this Article 18.12 may be by signed or conformed document delivered by hand, mail, fax or any other method of transmitting written instruments in which the consent of the Director is evidenced, whether or not the manual signature of the Director is included in the document. A consent in writing may be in two or more counterparts which together are deemed to constitute one consent in writing. A resolution ofthe Board or of any committee ofthe Board passed in accordance with this Article 18.12 is effective on the date stated in the consent in writing or on the latest date stated on any counterpart and is deemed to be a proceeding at a meeting ofthe Board or ofthe committee ofthe Board and to be as valid and effective as ifit had been passed at a meeting of the Board or of the committee of the Board that satisfies all the requirements of the Corporations Act and all the requirements of these Articles relating to meetings ofthe Board or of a committee ofthe Board. A resolution ofthe Board or of any committee ofthe Board may be passed without a meeting: (1) in all cases, if each of the Directors entitled to vote on the resolution consents to it in writing; or |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img032.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. Executive and Other Committees the power to fill vacancies in the Board; (1) (2) the power to remove a Director from a committee ofthe Board; (3) (4) 19.2 Appointment and Powers of Other Committees (1) (2) (a) to fill vacancies in the Board; (b) to remove a Director from the committee; (c) to change the membership of, or fill vacancies in, any committee ofthe Board; and (d) the power to appoint or remove officers appointed by the Board; and (3) 19.3 Obligations of Committees (1) conform to any rules that may be imposed on it by the Board; and 19.4 Powers of Board The Board may, at any time, with respect to a committee appointed under Articles 19.1 or 19.2: 5 30 such other powers, if any, as may be set out in the resolution or any subsequent Directors' resolution. In the exercise ofthe powers delegated to a committee appointed under Articles 19.1 or 19.2, the committee must: Northwest Law Group MFPvl 9 [2017-01-19] make any delegation referred to in paragraph (2) subject to the conditions set out in the resolution or any subsequent Directors' resolution. delegate to a committee appointed under paragraph (1) any ofthe Directors' powers, except the power: (2) report every act or thing done in exercise ofthose powers at such times as the Board may require. the power to change the membership of, or fill vacancies in, any committee of the Board; and 19.1 Appointment and Powers of Executive Committee The Board may appoint an Executive Committee consisting of the Director or Directors that it considers appropriate, and this committee has, during the intervals between meetings of the Board, all ofthe Directors' powers, except: The Board may: appoint one or more committees (other than the Executive Committee) consisting of the Director or Directors that it considers appropriate; |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img033.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) (2) fill vacancies in the committee. (3) the committee may meet and adjourn as it thinks proper; (1) (2) (3) (4) 20. Officers 20.2 Functions, Duties and Powers of Officers The Board may, for each officer: (1) determine the functions and duties ofthe officer; (2) (3) revoke, withdraw, alter or vary all or any ofthe functions, duties and powers ofthe officer. 20.3 Qualifications 31 questions arising at any meeting ofthe committee are determined by a majority of votes of the members present, and in case of an equality of votes, the Chair ofthe meeting does not have a second or casting vote. entrust to and confer on the officer any of the powers exercisable by the Board on such terms and conditions and with such restrictions as the Board thinks fit; and the committee may elect a Chair of its meetings but, if no Chair of a meeting is elected, or if at a meeting the Chair of the meeting is not present within 15 minutes after the time set for holding the meeting, the Directors present who are members of the committee may choose one oftheir number to Chair the meeting; a majority ofthe members ofthe committee constitutes a quorum ofthe committee but for the Audit Committee such majority must consist of members who are not officers or employees ofthe Company or an affiliate ofthe Company; and Northwest taw Group MFP v19 [2017-01-19] An officer is not required to hold a share of the Company as qualification for such office but must be qualified as required by the Corporations Act to become, act or continue to act as an officer. One person may hold more than one position as an officer of the Company. Any person 20.1 Directors May Appoint Officers The Board may appoint such officers, if any, as the Board determines and the Board may, at any time, terminate any such appointment. revoke or alter the authority given to the committee, or override a decision made by the committee, except as to acts done before such revocation, alteration or oveniding; terminate the appointment of, or change the membership of, the committee; and 19.5 Committee Meetings Subject to Article 19.3(1) and unless the Board otherwise provides in the resolution appointing the committee or in any subsequent resolution, with respect to a committee appointed under Articles 19.1 or 19.2: |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img034.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.4 Remuneration and Terms ofAppointment 20.5 Validity ofActs Where Appointment Defective 21. Indemnification 21.1 Definitions In this Article 21: (1) (2) (a) is or may be joined as a party; or (3) "expenses" has the meaning set out in the Corporations Act. 21.3 Mandatory Advancement of Expenses 32 (b) is or may be liable for or in respect of a judgment, penalty or fine in, or expenses related to, the proceeding; and appointed as the Chair of the Board or as a managing Director must be a Director. Any other officer need not be a Director. An act of an officer is not invalid merely because of an irregularity in the appointment or a defect in the qualification ofthat officer. "eligible proceeding" means a legal proceeding or investigative action, whether current, threatened, pending or completed, in which a Director, former Director or alternate Director of the Company (an "eligible party") or any of the heirs and Legal Personal Representatives of the eligible party, by reason ofthe eligible party being or having been a Director or alternate Director ofthe Company: "eligible penalty" means a judgment, penalty or fine awarded or imposed in, or an amount paid in settlement of, an eligible proceeding; Northwest Law Group MFP v19 [2017-01-19] 21.2 Mandatory Indemnification of Directors and Officers and Former Directors and Officers All appointments of officers are to be made on the terms and conditions and at the remuneration (whether by way of salary, fee, commission, participation in profits or otherwise) that the Board thinks fit and are subject to termination at the pleasure ofthe Board, and an officer, in addition to such remuneration, may receive, after he or she ceases to hold such office or leaves the employment ofthe Company, a pension or gratuity. The Company must indemnify, to the greatest extent permitted by the Corporations Act, a Director, officer, former Director or officer or alternate Director of the Company and their heirs and Legal Personal Representatives, as set out in the Corporations Act, against all eligible penalties to which such person is or may be liable, and 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 Director, officer, former Director and officer and alternate Director is deemed to have contracted with the Company on the terms ofthe indemnity contained in this Article 21.2. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img035.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.4 Indemnification of Other Persons The Company may indemnify any other person in accordance with the Corporations Act. 21.5 Non-Compliance with Corporations Act 21.6 Company May Purchase Insurance (1) is or was a Director, alternate Director, officer, employee or agent ofthe Company; (2) (3) (4) 22. Dividends 22.2 Declaration of Dividends The Board may declare and authorize payment ofsuch dividends as it may deem advisable. 22.3 No Notice Required The Board need not give notice to any shareholder of any declaration under Article 22.2. 33 is or was a Director, alternate Director, officer, employee or agent of a corporation at a time when the corporation is or was an affiliate ofthe Company; The Company must 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 but the Company must first receive from the eligible party a written undertaking that, ifit is ultimately determined that the payment of expenses is prohibited by the Corporations Act, the eligible party will repay the amounts advanced. The failure of a Director, alternate Director or officer of the Company to comply with the Corporations Act or these Articles does not invalidate any indemnity to which he or she is entitled under this Article 21. Northwest taw Group MFPvig [2017-01-19] against any liability incurred by them as such Director, alternate Director, officer, employee or agent or person who holds or held such equivalent position. The Company may purchase and maintain insurance for the benefit of any person (and such person's heirs and Legal Personal Representatives) who: at the request ofthe Company, is or was a Director, alternate Director, officer, employee or agent of a corporation or of a partnership, trust, joint venture or other unincorporated entity; and at the request of the Company, holds or held a position equivalent to that of a Director, alternate Director or officer of a partnership, trust, joint venture or other unincorporated entity; 22.1 Payment of Dividends Subject to Special Rights The provisions of this Article 22 are subject to the rights, if any, of shareholders holding shares with special rights as to dividends. |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img036.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.4 Record Date 22.5 Manner of Paying Dividend 22.6 Settlement of Difficulties set the value for distribution ofspecific assets; (1) (2) vest any such specific assets in trustees for the persons entitled to the dividend. (3) 22.7 When Dividend Payable Any dividend may be made payable on such date as is fixed by the Board. 22.8 Dividends to be Paid in Accordance with Number of Shares 22.9 Receipt by Joint Shareholders 22.10 Dividend Bears No Interest No dividend bears interest against the Company. 22.11 Fractional Dividends 22.12 Payment of Dividends 34 A resolution declaring a dividend may direct payment of the dividend wholly or partly by the distribution ofspecific assets or of fully paid shares or of bonds, debentures or other securities of the Company, or in any one or more ofthose ways. If a dividend to which a shareholder is entitled includes a fraction ofthe smallest monetary unit of the currency of the dividend, that fraction may be disregarded in making payment of the dividend and that payment represents full payment ofthe dividend. Any dividend or other distribution payable in cash in respect of shares may be paid by cheque, made payable to the order of the person to whom it is sent, and mailed to the address of the If several persons are joint shareholders of any share, any one of them may give an effective receipt for any dividend, bonus or other money payable in respect ofthe share. All dividends on shares of any class or series of shares must be declared and paid according to the number ofsuch shares held. The Board may set a date as the record date for the purpose of determining shareholders entitled to receive payment of a dividend. The record date must not precede the date on which the dividend is to be paid by more than two months. If no record date is set, the record date is the date on which the Board passes the resolution declaring the dividend. determine that cash payments in substitution for all or any part of the specific assets to which any shareholders are entitled may be made to any shareholders on the basis of the value so fixed in order to adjust the rights of all parties; and Northwest Law Group MFP v19 [2017-01-19] If any difficulty arises in regard to a distribution under Article 22.5, the Board may settle the difficulty as it deems advisable, and, in particular, may; |

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| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img037.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.13 Capitalization of Surplus 23. Documents, Records and Reports 23.1 Recording of Financial Affairs 24. Notices 24.1 Method of Giving Notice (1) prepaid mail addressed to the person at the applicable address for that person as follows: 35 The Board must cause adequate accounting records to be kept to record properly the financial affairs and condition ofthe Company and to comply with the Corporations Act. Unless the Corporations Act or these Articles provides otherwise, a notice, statement, report or other record required or permitted by the Corporations Act or these Articles to be sent by or to a person may be sent by any one ofthe following methods; Notwithstanding anything contained in these Articles, the Board may capitalize any surplus ofthe Company and may issue, as fully paid, shares or any bonds, debentures or other securities ofthe Company as a dividend representing the surplus or any part ofthe surplus. shareholder, or in the case ofjoint shareholders, to the address of the joint shareholder who is first named on the central securities register, or to the person and to the address the shareholder or joint shareholders may direct in writing. The mailing of such cheque will, to the extent ofthe sum represented by the cheque (plus the amount of the tax required by law to be deducted), discharge all liability for the dividend unless such cheque is not paid on presentation or the amount oftax so deducted is not paid to the appropriate taxing authority. Northwest Law Group MFPv19 [2017-01-19] (a) for a record mailed to a shareholder, the shareholder's Registered Address; (b) for a record mailed to a Director or officer, the prescribed address for mailing shown for the Director or officer in the records kept by the Company or the mailing address provided by the recipient for the sending ofthat record or records ofthat class; 23.2 Inspection ofAccounting Records Unless the Board determines otherwise, or unless otherwise determined by ordinary resolution, no shareholder of the Company is entitled to inspect or obtain a copy of any accounting records ofthe Company. (c) in any other case, the mailing address ofthe intended recipient; (2) delivery at the applicable address for that person as follows, addressed to the person: (a) for a record delivered to a shareholder, the shareholder's Registered Address; |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img038.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in any other case, the delivery address ofthe intended recipient; (3) (4) (5) physical delivery to the intended recipient. 24.2 Deemed Receipt A record that is: (1) (2) (3) 24.4 Notice to Joint Shareholders t 36 delivered to a person or the person's applicable address is deemed to be received by the person on receipt by that person or delivery to that address; and fax to the fax number provided by the intended recipient for the sending of that record or records ofthat class; e-mail to the e-mail address provided by the intended recipient for the sending of that record or records ofthat class; and (b) for a record delivered to a Director or officer, the prescribed address for delivery shown for the Director or officer in the records kept by the Company or the delivery address provided by the recipient for the sending ofthat record or records ofthat class; mailed to a person by ordinary mail to the applicable address for that person referred to in Article 24.1 is deemed to be received by the person to whom it was mailed on the day, Saturdays, Sundays and holidays excepted, following the date ofmailing; sent to a person by fax or e-mail is deemed to be received by the person on transmission if sent during business hours at the place of intended receipt by that person and, if not sent during that person's business hours, on the next business day of the place of intended receipt ofthat person. Northwest taw Group MFP v19 [2017-01-19] (a) by name, by the title of the Legal Personal Representative of the deceased or incapacitated shareholder, by the title of trustee of the bankrupt shareholder or by any similar description; and A notice, statement, report or other record may be provided by the Company to the joint shareholders of a share by providing the notice to the joint shareholder first named in the central securities register in respect ofthe share. I 24.5 Notice to Legal Personal Representatives A notice, statement, report or other record may be provided by the Company to the persons entitled to a share in consequence ofthe death, bankruptcy or incapacity of a shareholder by: (1) mailing the record, addressed to them: 24.3 Certificate of Sending A certificate signed by the Secretary, if any, or other officer of the Company or of any other corporation acting in that behalf for the Company stating that a notice, statement, report or other record was addressed as required, and sent as permitted, by Article 24.1 is conclusive evidence of that fact. |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img039.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25. Seal any two Directors; (1) (2) any officer, together with any Director; (3) (4) 25.2 25.3 Mechanical Reproduction of Seal 37 Northwest Law Group MFPvl9 [2017-01-19] The Board may authorize the Seal to be impressed by third parties on share certificates or bonds, debentures or other securities of the Company as it may determine appropriate. To enable the Seal to be impressed on any share certificates or bonds, debentures or other securities of the Company, whether in definitive or interim form, on which facsimiles of any of the signatures of the Directors or officers of the Company are, in accordance with the Corporations Act or these Articles, printed or otherwise mechanically reproduced, there may be delivered to the person employed to engrave, lithograph or print such definitive or interim share certificates or bonds, debentures or other securities one or more unmounted dies reproducing the Seal and the Chair of the Board or any senior officer together with the Secretary, treasurer. Secretary-treasurer, an assistant Secretary, an assistant treasurer or an assistant Secretary-treasurer may in writing authorize such person to cause the Seal to be impressed on such definitive or interim share certificates or bonds, debentures or other securities by the use of such dies. Share certificates or bonds, debentures or other securities to which the Seal has been so impressed are for all purposes deemed to be under and to bear the Seal impressed on them. (b) at the address, if any, supplied to the Company for that purpose by the persons claiming to be so entitled; or (2) if an address referred to in paragraph (l)(b) has not been supplied to the Company, by giving the notice in a manner in which it might have been given ifthe death, bankruptcy or incapacity had not occurred. ifthe Company only has one Director, that Director; or any one or more Directors or officers or persons as may be determined by the Board. 25.1 Who May Attest Seal Except as provided in Articles 25.2 and 25.3, the Seal, if any, must not be impressed on any record except when that impression is attested by the signatures of: Sealing Copies For the purpose of certifying under seal a certificate of incumbency ofthe Directors or officers of the Company or a true copy of any resolution or other document, despite Article 25.1, the impression ofthe Seal may be attested by the signature of any Director or officer. |

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|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](tm2612795d1_ex3-1img040.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26. Prohibitions 26.2 Definitions In this Article 26: "designated security" means: (1) (2) (3) The Company has adopted as its Articles the foregoing provisions: Full name andigffure of each Incorporator Date January 19, 2017 z > 38 26.1 Application This Article 26 does not apply to the Company if and for so long as it is a public company or a pre-existing reporting company which has the Statutory Reporting Company Provisions as part of its Articles or to which the Statutory Reporting Company Provisions apply. (a) is not a debt security, and (b) carries a voting right either under all circumstances or under some circumstances that have occurred and are continuing. 26.3 Consent Required for Transfer of Shares or Designated Securities No share or designated security may be sold, transferred or otherwise disposed of without the consent of the Board and the Board is not required to give any reason for refusing to consent to any such sale, transfer or other disposition. (a) a voting security ofthe Company; (b) a security ofthe Company that is not a debt security and that carries a residual right to participate in the earnings of the Company or, on the liquidation or winding up ofthe Company, in its assets; or (c) a security of the Company convertible, directly or indirectly, into a security described in paragraph (a) or (b); "security" has the meaning assigned in the Securities Act (British Columbia); and "voting security" means a security ofthe Company that: Northwest Law Group MFPvl 9 [2017-01-19] |

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## Exhibit 10.1

**Exhibit 10.1**

**THIS INDEMNITY AGREEMENT** made as of the__ day of__ , 2026,

BETWEEN:

**NervGen Pharma Corp.**, a British Columbia company having its principal business office at 112-970 Burrard Street, Unit 1290, Vancouver, British Columbia V6Z 2R4.

(hereinafter, "**Company**")

AND:

(hereinafter, the "**Executive**")

**WHEREAS:**

A. The Executive acts as a director, executive, officer or employee of the Company, or in a similar capacity of an Affiliate of the Company. (For purposes of this Agreement, "**Affiliate**" means any person or entity which directly or indirectly controls, is controlled by or is under common control with such person or entity where "**control**" means the right to control, or actual control of management of such entity, whether by ownership of voting securities, by agreement, or otherwise);

B. The Company has agreed to provide indemnification to the Executive on the terms and conditions contained in this Agreement; and,

C. Notwithstanding the date of its execution and deliver, this Agreement shall be conclusively deemed to commence on the day upon which the Executive first became or becomes a director, executive, officer or employee of the Company and shall continue in effect after the Executive ceases to be a director, executive, officer or employee of the Company.

**NOW THEREFORE** in consideration of the Executive agreeing to act as a director, executive, officer or employee of the Company, the covenants and agreements herein, the payment of $1 made by each party to the other, and other good and valuable consideration, the receipt and sufficiency of which is acknowledged by each party, the parties agree as follows:

1.  **<u>INDEMNIFICATION</u>** 

1.1 The Company will indemnify the Executive and his heirs, executors, administrators and personal representatives
(collectively, the "**Indemnitees**") and save the Indemnitees harmless against all liabilities, costs, charges and expenses
actually and reasonably incurred directly or indirectly by the Indemnitees in law, in equity or under any statute or regulation in connection
with any civil, criminal or administrative claim (including without limitation any environmental claim), or any action, proceeding or
investigation to which the Indemnitees are made a party or in which they are otherwise involved as a witness or other participant by reason
of the Executive having been a director, executive, officer or employee of the Company or in respect of any act, matter, deed or thing
whatsoever made, done, committed, permitted or acquiesced in by the Executive or any failure on the part of the Executive to act in or
about the execution of his duties as a director, executive officer or employee of the Company, including without limitation any and all
liabilities arising by breach of any statutory or common law duty of care imposed on directors of corporations or any breach of any other
statutory provisions or provision of the memorandum and articles of the Company, and including without limitation any action brought by
the Company, if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Executive acted honestly and in good faith with a view to the best interests of the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of a criminal or administrative claim, action, proceeding or investigation, the Executive had reasonable grounds for believing that his conduct was lawful.

1.2 If the claim, action, proceeding or investigation set out in section 1.1 is a claim, action, proceeding
or investigation by or on behalf of the Company, the Company will, subject to any approvals required by law, indemnify the Indemnitees
and save the Indemnitees harmless against all costs, charges and expenses actually and reasonably incurred by the Indemnitees in law,
in equity or under any statute or regulation in respect of such claim, action, proceeding or investigation provided that the Executive
fulfils the requirements set forth in subsections 1.1(a) and 1.1(b) of this Agreement.

Subject to the conditions of Section 1.1, the Company shall either provide Indemnitees with legal representation or shall advance to the Indemnitees reasonable attorney's fees and expenses as such fees and expenses are incurred, subject to an undertaking from the Indemnitees to repay such advances if it shall be finally determined by a judicial decision which is not subject to further appeal that the Executive was not entitled to the reimbursement of such fees and expenses.

2.  **<u>IDEM</u>** 

2.1 Without limiting the generality of section 1, the costs, charges and expenses against which the Company
will indemnify the Indemnitees include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any and all reasonable fees, costs and expenses actually and reasonably incurred by the Indemnitees in investigating, preparing for, defending against, providing evidence in, producing documents or taking any other action in connection with any commenced or threatened action, proceeding or investigation, including reasonable legal fees and disbursements, travel and lodging costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any amounts reasonably paid in settlement of any action, proceeding or investigation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any amounts paid to satisfy a judgement or penalty, including interest and costs; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) all costs, charges and expenses reasonably incurred by the Indemnitees in establishing their right to be indemnified pursuant to this Agreement.

3.  **<u>TAXABLE BENEFITS</u>** 

3.1 If the Indemnitees or any of them are required to include in their income, or in the income of the estate
of Executive, any payment made under this Agreement for the purpose of determining income tax payable by the Indemnitees or any of them
or the estate of Executive, the Company shall pay an amount by way of indemnity that will fully indemnify the Indemnitees or estate of
Executive for the amount of all liabilities described in section 1 and section 2 and all income taxes payable as a result of the receipt
of the indemnity payment.

4.  **<u>INDEMNIFICATION NOTICE</u>** 

4.1 Upon receipt of a written request by the Indemnitees for indemnification under this Agreement (an "**Indemnification Notice** "), the Company will forthwith diligently proceed to obtain such approval and will take all other steps necessary to provide
the requested indemnification as soon as practicable following receipt of the Indemnification Notice.

5.  **<u>NO INVALIDATION</u>** 

5.1 Any failure by the Executive in his capacity as a director, executive, officer or employee of the Company
or as a director, executive, officer or employee of a corporation of which the Company is a shareholder to comply with the provisions
of the *British Columbia Business Corporations Act* or of the Articles of the Company will not invalidate any indemnity to which
he is entitled under this Agreement.

6.  **<u>REPRESENTATIONS AND WARRANTIES OF THE COMPANY</u>** 

6.1 The Company represents and warrants to the Executive, and acknowledges that the Executive is relying on
such representations and warranties, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company has the requisite corporate power and authority to enter into this Agreement and has taken all necessary steps to validly approve the execution and delivery of this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) this Agreement has been duly executed and delivered by the Company and is a valid and binding obligation of the Company.

7.  **<u>INDEPENDENT LEGAL ADVICE</u>** 

7.1 **Each of the parties to this Agreement acknowledges and agrees that they been given adequate opportunity to seek, and obtain, independent legal advice with respect to the subject matter of this Agreement and for the purpose of ensuring their rights and interests are protected. Each of the parties represents and warrants that they have sought independent legal advice or consciously chosen not to do so with full knowledge of the risks associated with not obtaining such independent legal advice. The parties acknowledge that they have read and understood this provision of this Agreement and indicate so by signing this Agreement below.** 

8.  **<u>ENUREMENT</u>** 

8.1 This Agreement shall enure to the benefit of the Indemnitees and is binding on the Company and its successors.

9.  **<u>ASSIGNMENT</u>** 

9.1 Neither party may assign, transfer or sublicense any of its rights or obligations under this Agreement
without the written consent of the other party.

10.  **<u>NUMBER AND GENDER</u>** 

10.1 Wherever a singular or masculine expression is used in this Agreement, that expression is deemed to include
the plural, the feminine or the body corporate where required by the context.

11.  **<u>SEVERABILITY</u>** 

11.1 If any provision of this Agreement or part thereof is found to be illegal or unenforceable, it will be
considered separate and severable from this Agreement and the remaining provisions of this Agreement or parts of the impugned provision
will remain in force and be binding upon the parties as though the illegal or unenforceable provision or part thereof had never been included.

12.  **<u>HEADINGS</u>** 

12.1 The headings in this Agreement are for convenience of reference only and do not affect the interpretation
of this Agreement.

13.  **<u>GOVERNING LAW AND JURISDICTION</u>** 

13.1 This Agreement shall be construed in accordance with the laws of the Province of British Columbia and
the parties hereby irrevocably attorn to the jurisdiction of the Courts of British Columbia to determine all disputes and claims both
at law and at equity, arising out of or in any way connected with the construction, breach, or alleged, threatened or anticipated breach
of this Agreement and shall have jurisdiction to hear and determine all questions as to the validity, existence or enforceability thereof.

14. **COUNTERPARTS:** 

14.1 This Agreement may be executed in any number of counterparts,
each of which will be deemed an original but all of which together will constitute one and the same instrument. Signatures delivered
via facsimile or electronic means will be binding and treated as if they were original signatures.

**IN WITNESS WHEREOF** the parties hereto have executed this Agreement as of the date first above written.

---

| | | |
|:---|:---|:---|
| **NervGen Pharma Corp.** | **NervGen Pharma Corp.** | |
| By: |  | By: |
|  | Adam Rogers, Chairman, President and CEO |  |

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| |
|:---|
| Witness: |
| Name of Witness: |

---

## Exhibit 10.2

**Exhibit 10.2**

Execution Version

**EMPLOYMENT AGREEMENT**

**THIS EMPLOYMENT AGREEMENT** is made on the 27th day of April 2026.

**BETWEEN:**

**KEITH VENDOLA**

(the "**Employee**")

**AND**

**NERVGEN US INC.**, a Delaware Corporation

(the "**Company**" or the "**Employer**", and with the Employee, each a "**Party**" and collectively, the "**Parties**")

**WHEREAS:**

A. The Company is wholly owned by NervGen Pharma Corp., a British Columbia Corporation with its principal
place of business at 112-970 Burrard Street, Unit 1290, Vancouver, BC, V6Z 2R4, Canada (the "**Parent Company** ").

B. The Company is engaged in research, development and commercialization of pharmaceuticals that target protein
tyrosine phosphatase sigma (PTPσ) for the treatment of nerve damage in the human clinical market (together, with such other services,
research and development activities as undertaken by the Company from time to time, the "**Company Business** ").

C. The Parent Company is engaged in research, development and commercialization
of pharmaceuticals that target protein tyrosine phosphatase sigma (PTPσ) for the treatment of nerve damage in the human clinical
market (together with the Company Business, the "**Business** ").

D. The Parties wish to enter into this Agreement to confirm the terms and conditions of the Employee's
employment with the Company.

**NOW THEREFORE** in consideration of the mutual covenants and agreements herein and for other good and valuable consideration (the receipt and sufficiency of which are acknowledged), the Parties agree as follows:

**1.** **EMPLOYMENT** 

1.1 **Position.** Subject to the terms of this Agreement, the Company agrees to employ the Employee and
the Employee agrees to serve as Chief Financial Officer of the Company during the Term (hereinafter defined). The Employee also agrees
that as part of his duties as an employee of the Company, the Employee shall serve as the Chief Financial Officer of the Parent Company,
and may be required to serve as an officer and/or director of the Parent Company and its subsidiaries, and that the remuneration and entitlements
on termination of employment set out in this Agreement fully compensate the Employee for any services he performs for the Parent Company
and its subsidiaries in that regard.

1.2 **Reporting.** The Employee shall report and be directly responsible to the Chief Executive Officer
of the Company.

1.3 **Term.** The term of this Agreement (the "**Term**") shall commence April 27,
2026 (the "**Commencement Date**") and shall continue until terminated in accordance with this Agreement. The Employee's
employment with the Company will at all times be "at will," meaning that any Party may terminate the Term and the Employee's
employment hereunder at any time and for any reason.

**2.** **COMPENSATION** 

2.1 **Salary.** The Employee shall initially be paid an annual salary ()"**Salary**") of
US$515,000 paid semi-monthly. The Salary and any other compensation provided to the Employee pursuant to this Agreement will be subject
to deductions and withholdings required by applicable laws. Under the direction of the Board of Directors of the Parent Company (the "**Board** ")
or its duly appointed Compensation Committee, the Company will initiate an annual review of the Employee's performance, entire non-equity
compensation and terms of employment with the first annual review to occur on or before December 31, 2026.

2.2 **Benefits.** The Employee will be eligible to participate in the Company's US benefits plans
in effect from time to time, subject to the terms of such plans.

2.3 **Non-Equity Incentive Programs.** The Employee shall participate in the Company's incentive
program with the opportunity to annually earn up to 40% of the previous 12 months' paid Salary based upon Company and individual
goals and other terms approved by the Board in its sole discretion, prorated for any partial year of employment. The actual amount of
the Employee's annual incentive compensation, if any, shall be determined in the sole discretion of the Board, subject to the terms
of any applicable incentive compensation plan that may be in effect from time to time. Except as may be provided by the Board or as may
otherwise be set forth in the applicable incentive compensation plan, the Employee must be employed by the Company on the date such incentive
compensation is paid in order to earn or receive any annual incentive compensation.

2.4 **Employee Stock Option Plan.** The Parent Company will grant to the
Employee 812,002 stock options ()"**Options**") under the Parent Company's equity incentive plan, as in effect from
time to time (the "**Plan** "), within 30 days following the Commencement Date. All Options will be granted with a 10-year
term, and the exercise price of the Options will equal the last sales price reported for the shares on the date of grant on the
principal national securities exchange in the U.S. on which the shares are then traded (the "**Fair Market Value** ").
The Options will be subject to time-based vesting conditions, vesting in three substantially equal annual installments beginning on the
first anniversary of the grant date until fully vested. Any vested Options held by the Employee at the time of termination of employment
other than a termination by the Company for Cause or due to the Employee's death or disability will remain exercisable through the
earlier of (i) 90 days from the date of termination and (ii) the end of the 10-year term of the Option. All Options will be
subject to the terms and conditions set forth above and in the applicable award agreement to be provided to the Employee at the time of
grant, with such terms and conditions subject to the Plan, as amended from time to time. In the event of a conflict between this Agreement,
on the one hand, and the applicable award agreement or the Plan, on the other hand, the terms of the award agreement or the Plan, as applicable,
will control.

The Employee acknowledges that all equity awards granted to him shall be governed by the terms of the Plan, the terms of the applicable award agreement, the rules of any applicable quotation system or stock exchanges, and all applicable laws.

2.5 **Expenses.** The Company shall reimburse the Employee on a timely basis for all reasonable business
expenses incurred in connection with the discharge of his duties and responsibilities under this Agreement, in accordance with the Company's
expense approval procedures then in effect. Reasonable expenses include cell phone and phone usage, internet usage, and office supplies
that are incremental to normal home life. Additionally, reasonable training related to employment as well as memberships and dues related
to maintaining the employee's professional designation and work, and travel expenses (whether to Company's offices or elsewhere),
in accordance with Company Policy described in the Employee Handbook will be reimbursed. The Company will purchase a computer and related
peripherals at the Company's expense for use that meets Company specifications, and it together with all other Company purchased
materials, will remain the property of the Company and are to be surrendered upon termination.

2.6 **Vacation / Paid Time Off.** The Employee shall be entitled to paid time-off in accordance with the
Company's Employee Handbook and applicable policies, as may be amended from time to time. The Company currently maintains a flexible
paid time off policy, which does not accrue and is not paid out upon any termination of employment.

2.7 **No Other Compensation or Benefits.** The Employee acknowledges and agrees that unless otherwise expressly
agreed to in writing by the Company subsequent to execution of this Agreement by the Parties hereto, the Employee shall not be entitled
by reason of his employment by the Company or by reason of any termination of such employment, to any remuneration, compensation or benefits
other than as expressly set forth in this Agreement.

**3.** **OBLIGATIONS OF THE EMPLOYEE** 

3.1 **Duties.** The Employee shall act as Chief Financial Officer of the Company and the Parent Company
and shall perform such duties as are consistent with that position. In addition, the Employee shall perform, observe and conform to such
duties and instructions, consistent with the position of Chief Financial Officer, as from time to time are assigned or communicated to
the Employee by the Chief Executive Officer or the Board.

3.2 **Service to the Company.** At all times while employed by the Company, the Employee will use his best
efforts to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) diligently, honestly and faithfully serve the Company in a manner which is consistent with the fiduciary
duties owed to the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) act in, and promote, the best interests of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) devote substantially all of his working time, attention and energies to the Business and affairs of the
Business, provided, however, that the Employee may serve as an executive and board member of any subsidiary of the Company and may provide
volunteer services to life sciences associations, non-profit foundations and academic institutions provided that no such activities amount
to an actual or potential conflict of interest with the Employee's duties pursuant to this Agreement and do not otherwise unreasonably
interfere with the Employee's performance of his duties hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) comply in all material respects with all terms of this Agreement, and the Assignment of Intellectual Property
Agreement executed between the Parties on the Effective Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) perform his duties in accordance with applicable laws and in accordance with the Company's policies
and procedures as established and updated by the Company from time to time.

3.3 **Location.** The Employee shall perform his duties remotely or at such locations as may be reasonably
designated by the Company and agreed to by the Employee from time to time, subject to the reasonable business needs of the Company.

**4.** **CONFIDENTIALITY, DISCLOSURE OF INFORMATION** 

4.1 **Confidential Information.** The Employee acknowledges that, by reason of his employment with the
Employer, he will have access to Confidential Information, as hereinafter defined, which the Employer has spent time, effort and money
to develop and acquire. For the purposes of Sections 4 through 6 of this Agreement, any reference to "**Employer** "
or "**Company**" shall mean the Parent Company and its affiliates and subsidiaries, including, without limitation, the
Company. The term "**Confidential Information**" as used in this Agreement means all trade secrets, proprietary information
and other data or information (and any tangible evidence, record or representation thereof) whether prepared, conceived or developed by
an employee or agent of the Company (including the Employee) or received by the Company from an outside source that is maintained in confidence
by the Company or the outside source who provided the information in question. Without limiting the generality of the foregoing, Confidential
Information includes information of the Company pertaining to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any ideas, drawings, improvements, know-how, research, inventions, innovations, products, services, sales,
scientific or other formulae, processes, methods, machines, procedures, tests, treatments, developments, technical data, designs, devices,
patterns, concepts, computer programs or software, records, data, training or service manuals, plans for new or revised services or products
or other plans, items or strategy methods on compilation of information, or works in process, or any inventions or parts thereof, and
any and all revisions and improvements relating to any of the foregoing (in each case whether or not reduced to tangible form) that relate
to the business or affairs of the Company or that result from its marketing, research and/or development activities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the identities of clients and potential clients, customers and potential customers (collectively, "**Customers** ");
the identities of contact persons at Customers; the preferences and needs of Customers; customer contact persons; information regarding
sales terms, service plans, methods, practices, strategies, forecasts, know-how, and other marketing techniques; the identities of key
accounts, potential key accounts; the identities of suppliers and contractors, and all information about those supplier and contractor
relationships such as contact person(s), pricing and other terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any information relating to the relationship of the Company with any personnel, suppliers, principals,
investors, contacts or prospects of the Company and any information relating to the requirements, specifications, proposals, orders, contracts
or transactions of or with any such persons;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any marketing material, plan or survey, business plan, opportunity or strategy, development plan or specification
or business proposal;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) financial information, including the Company's costs, financing or debt arrangements, income, profits,
salaries or wages; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any information relating to the present or proposed business of the Employer.

4.2 **Exclusive Property.** The Employee acknowledges that the Confidential Information is a valuable and
unique asset of the Company and that the Confidential Information is and will remain the exclusive property of the Company.

4.3 **Restrictions.** The Employee agrees to maintain securely and hold in strict confidence all Confidential
Information received, acquired or developed by him or disclosed to him as a result of or in connection with his association with the Employer.
The Employee agrees that, both during the Term and after the termination of his employment with the Company, he will not, directly or
indirectly, divulge, communicate, use, copy or disclose or permit others to use, copy or disclose, any Confidential Information to any
person, except as such disclosure or use is required to perform his duties hereunder. The obligation of confidentiality imposed by this
Agreement shall not apply to information that appears in issued patents or printed publications, that otherwise becomes generally known
in the industry through no act of the Employee in breach of this Agreement, or that is required to be disclosed by court order or applicable
law, including, without limitation (i) discussing the terms, wages, and working conditions at the Employer, as protected by applicable
law; or (ii) initiating communications directly with, responding to any inquiries from, providing testimony before, providing confidential
information to, reporting possible violations of law or regulation to, or from filing a claim or assisting with an investigation directly
with a self-regulatory authority or a government agency or entity, or from making other disclosures that are required or protected by
law.

4.4 **Third-Party Information.** The Employee understands that the Employer has from time to time in its
possession information belonging to third parties or that is claimed by third parties to be confidential or proprietary and that the Employer
has agreed to keep confidential. The Employee agrees that all such information shall be Confidential Information for the purposes of this
Agreement.

4.5 **Work Product.** The Employee represents and warrants that the Employee will not, to the best of the
Employee's knowledge and belief, use or cause to be incorporated in any of the Employee's work product any data software,
information, designs, techniques or know-how which the Employee or the Company does not have the right to use.

4.6 **Computer Authorization**. The Employee agrees that he is not authorized to use the Company's
computer system or any of the Company's IT hardware or software for any purpose other than the performance of his job duties or
incidental, limited personal use that does not affect the Company or its business in any way. This includes (a) transferring information
relating to the Company's business from the Company's system, hardware, or software to an external device or account other
than as necessary in the performance of his job duties, (b) deleting information relating to the Company's business from the
Company's system, hardware, or software other than as necessary in the performance of his job duties, or (c) altering information
relating to the Company's business found on the Company's system, hardware, or software in an unauthorized manner.

**5.** **Disclosure of Discoveries, Ideas and Inventions** 

This Section 5 is subject in all respects to the Background Intellectual Property carve-out and license provisions set forth in Section 7.7.

5.1 **Exclusive Property.** Any new technology, knowledge or information developed by the Employee related
to the business and/or research interests of the Company during the term of this Agreement shall be the exclusive property of the Company
to the extent that such technology, knowledge or information is owned by the Employee.

5.2 **Inventions.** The Employee acknowledges that all Confidential Information (as defined above) and
all other discoveries, know-how, inventions, ideas, concepts, processes, products, protocols, treatments, methods, tests and improvements,
computer programs, or part thereof, conceived, developed, reduced to practice or otherwise made by him either alone or with others, during
the course of the Employee's performing services on behalf of the Employer, whether or not conceived, developed, reduced to practice
or made during the Employee's regular working hours or on the premises of the Employer (collectively "**Inventions** "),
and any and all services and products that embody, emulate or employ any such Inventions will be the sole property of the Employer, and
all copyrights, patents, patent rights, trademarks, service marks and reproduction rights to, and other proprietary rights in, each such
Invention, whether or not patentable or copyrightable, will belong exclusively to the Employer. For purposes of the copyright laws of
the United States of America, to the extent, if any, that such laws are applicable to any such Invention or any such service or product,
it will be considered a work made for hire and the Employer will be considered the author thereof.

5.3 **Assignment of Inventions.** The Employee hereby assigns and agrees to assign all his right, title
and interests in the Inventions to the Employer or its nominee.

5.4 **Waiver of Rights in Inventions.** The Employee hereby waives for the benefit of the Company and its
successors and assigns any and all moral rights in respect of any Inventions.

**6.** **RETURN OF DOCUMENTS** 

6.1 **Return of Company Property.** The Employee agrees that all files, documents, equipment, records and
other property or materials issued to, or made or received by, the Employee of any nature pertaining to business of the Employer, including
Confidential Information, are and shall be the property of the Company, and that all such files, documents, records and other materials,
and all copies of them, and all such equipment and other property shall be returned to the Company upon the termination of the Employee's
employment for any reason or at any time upon the request of the Employer.

**7.** **TERMINATION** 

7.1 **Termination Due to Death or Disability.** This Agreement and the Employee's employment hereunder
shall automatically terminate upon the Employee's death or, at the option of the Company, by written notice to the Employee and
subject to applicable law, upon the Employee's Disability (as defined below). Such termination shall take effect the last day of
the month following the date of death or the date such notice of termination for Employee's Disability is given. The Employee's
compensation and other benefits shall continue during the term of the Disability through the effective date of termination as set forth
above. Upon termination due to the Employee's death or Disability, no notice, salary, compensation benefits, allowances or pay in
lieu of notice shall be paid or payable to the Employee or any of his beneficiaries after or as a result of such termination other than
any earned but unpaid Salary to be paid through the effective date of termination.

7.2 **Termination by Company with Cause.** The Company may terminate the Employee's employment under
this Agreement at any time for Cause (as defined below). If this Agreement and the Employee's employment are terminated for Cause,
no notice, salary, compensation benefits, allowances or pay in lieu of notice shall be paid or payable to the Employee or any of his beneficiaries
after or as a result of such termination other than any earned but unpaid Salary to be paid through the effective date of termination.

7.3 **Termination Outside a Change in Control Period by Company Without Cause or by the Employee for Good Reason.** The Company may terminate the Employee's employment under this Agreement without Cause at
any time and the Employee may resign for Good Reason (as defined below). If the Employee's employment is terminated outside
of a Change in Control Period by the Company without Cause (other than due to his Disability) or by the Employee for Good Reason, then,
subject to the Employee's execution of a separation agreement and release in a form and manner reasonably satisfactory to the Company
and negotiated by the Company and Employee in good faith without delay, which shall include, without limitation, a general release of
claims against the Company and all related persons and entities that shall not release the Employee's rights under this Agreement,
and a reaffirmation of all of the Employee's post-employment obligations to the Company, which shall provide that if the Employee
breaches any of such obligations, all severance benefits as provided herein shall immediately cease (the "**Separation Agreement** "),
which Separation Agreement must become irrevocable within 60 days after such termination of employment (or such shorter period as set
forth in the Separation Agreement) (such conditions, the "**Separation Conditions** "), the Company shall provide the
Employee with continued Salary through 9 months following the date of termination as consideration for a settlement agreement that contains
complete and full releases of all claims by the Employee in addition to any earned but unpaid Salary to be paid through the effective
date of termination.

7.4 **Termination During a Change in Control Period by Company Without Cause or by the Employee for Good Reason.** If the Employee's employment is terminated during a Change in Control Period by the Company
without Cause (other than due to his Disability) or by the Employee for Good Reason, then, subject to the satisfaction of the Separation
Conditions , the Company shall provide the Employee with the following severance benefits in addition to any earned but unpaid Salary
to be paid through the effective date of termination:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a lump-sum cash payment, paid within 30 days following the satisfaction of the Separation Conditions,
equal to 9 months of Salary, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) full vesting acceleration of all then-outstanding Options effective as of the date of termination.

7.5 **Termination by Employee Without Good Reason.** The Employee may terminate his obligations under this
Agreement without Good Reason by giving 90 days' written notice to the Chief Executive Officer or the Board. On the giving of such
notice by the Employee, or at any time thereafter, the Company shall have the right to elect at any time thereafter to immediately terminate
the Employee's employment without further payment other than any earned but unpaid Salary to be paid through the effective date
of termination, and such termination shall not constitute a termination without Cause for purposes of this Agreement.

7.6 **Definitions.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "**Cause**" means the occurrence of any one or more of the following events, as determined
in good faith by the Board (or a duly authorized committee thereof):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *Misconduct or Negligence*. The Employee's misconduct, negligence, or failure to substantially
perform the Employee's duties or responsibilities to the Company or the Parent (other than due to the Employee's physical
or mental illness, incapacity, or Death or Disability), which results in or is reasonably likely to result in harm to the Company or the
Parent or its business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) *Breach of Fiduciary, Duty, or Dishonesty*. Any act of fraud, embezzlement, misappropriation, dishonesty,
or breach of fiduciary duty involving moral turpitude, deceit, or dishonesty with respect to the Company, or the Parent, its affiliates,
or their respective assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) *Criminal Conduct*. The Employee's indictment or arrest for (A) any felony, or (B) any
misdemeanor involving moral turpitude, fraud, theft, dishonesty, or misrepresentation, in each case that is reasonably likely to have
an adverse effect on the Company's or the Parent's reputation or business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) *Violation of Law or Policy*. The Employee's violation of any applicable law, rule, or regulation
(including securities laws) or any violation of the Company's or the Parent's written policies, codes of conduct, or compliance
programs, which violation causes or is reasonably likely to cause harm to the Company or the Parent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) *Failure to Perform / Insubordination*. The Employee's failure or refusal to substantially
perform the Employee's duties or responsibilities, or insubordination, after receipt of written notice from the Board specifying
such failure or refusal and a reasonable opportunity to cure (which shall be no less than thirty (30) days, except where such failure
or refusal is not reasonably susceptible to cure);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) *Reputational Harm*. Any act or omission by the Employee that results in or is reasonably likely
to result in reputational harm to the Company or the Parent, including conduct that undermines the Employee's ability to effectively
perform the Employee's duties or impairs the confidence of the Board, regulators, investors, or key stakeholders in the Employee's
leadership;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) *Breach of Agreement*. The Employee's breach of this Agreement or any other written agreement
with the Company or the Parent, including confidentiality, non-competition, non-solicitation, or intellectual property obligations, which
breach remains uncured following written notice and a reasonable opportunity to cure, if curable, including (without limitation) the Employee's
material breach of Section 7.7 of this Agreement (Competition; Non-Solicitation; Outside Activities; Intellectual Property), which
breach remains uncured following written notice and a reasonable opportunity to cure, if curable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) *Board Determination of Performance Failure*. The Employee's failure to meet performance objectives
or expectations, as determined in good faith by a majority of the Board of Directors, taking into account the Company's and the
Parent's strategic objectives, financial performance, and the Employee's role and responsibilities; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) *Substance Abuse / Workplace Policies*. The Employee's violation of any Company or Parent policy,
including, without limitation, policies relating to drugs and alcohol, harassment or discrimination, equal employment opportunity, workplace
violence, ethics, or code of conduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "**Change in Control**" has the meaning set forth in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "**Change in Control Period**" means the period beginning three (3) months prior to
the date of a Change in Control and ending on the twelve (12) month anniversary of the Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "**Disability**" shall mean the disability of the Employee, where the Employee is unable
to work and remains continuously so disabled for a period of 180 days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "**Good Reason**" means that the Employee has completed all steps of the Good Reason Process
following the occurrence of any of the following events without the Employee's consent (each, a "**Good Reason Condition** "):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Employee is placed in a position of lesser stature than his current position or is assigned duties consistent with such position
or duties that, if performed, would result in a significant change in the nature or scope of powers, authority, functions or duties inherent
such a position immediately prior to the Change in Control,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Employee is assigned performance requirements or working conditions that are at variance with the performance requirements and
working conditions in effect immediately preceding the Change in Control or is accorded treatment on a general basis that is in derogation
of his status in his current position,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Employee's Salary or incentive bonus eligibility is materially decreased,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the Employee is required to relocate to an in-office location as his primary work location,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the Company's material breach of this Agreement, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) the relocation of Employee's principal work location by more than fifty (50) miles from Employee's then-current primary
work location, other than a transition from remote work to occasional in-person meetings consistent with Company practice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The "**Good Reason Process**" consists of the following steps:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a Good Reason Condition has occurred,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Employee notifies the Company in writing of the first occurrence of the Good Reason Condition within 60 days of the first occurrence
of such condition,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Employee cooperates in good faith with the Company's efforts, for a period of not less than 30 days following such notice
(the "**Cure Period** "), to remedy the Good Reason Condition,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) notwithstanding such efforts, the Good Reason Condition continues to exist at the end of the Cure Period, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the Employee terminates employment within 60 days after the end of the Cure Period.

7.7 **Competition; Non-Solicitation; Outside Activities; Intellectual Property.** 

This Section 7.7 sets forth the sole and exclusive non-competition, non-solicitation, exclusivity, and intellectual property restrictive covenants applicable to the Employee, and supersedes any inconsistent or overlapping provisions elsewhere in this Agreement. As used in this Section 7.7, the term Company includes the Parent, the Company, and their respective affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Exclusivity and Non-Competition During Employment*. During the term of the Employee's employment
with the Company, the Employee shall devote substantially all of the Employee's professional business time, attention, skill, and
efforts to the performance of the Employee's duties for the Company and shall not, without the prior written consent of the Board,
directly or indirectly engage in, own, manage, operate, control, advise, consult for, or participate in any business or enterprise that
competes with the business of the Company or any of its subsidiaries, nor engage in any activity that would reasonably be expected to
conflict with the Employee's fiduciary duties to the Company. Notwithstanding the foregoing, the Employee may hold passive investments
of less than two percent (2%) of the outstanding equity securities of any publicly traded company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Permitted Outside Activities*. Notwithstanding Section 3.1, the following activities shall
be expressly permitted and shall not be deemed competitive or conflicting with the Employee's obligations to the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) service on additional boards of directors or advisory boards of charitable, academic, or non-profit organizations,
and service on boards of for-profit entities that are not competitive with the Company, in each case with prior notice to, and consent
of, the Board (such consent not to be unreasonably withheld);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) passive ownership of less than two percent (2%) of the outstanding securities of any publicly traded company;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) such other activities as may be approved in advance by the Board, provided that such activities do not
materially interfere with the Employee's duties to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Post-Termination Non-Competition*. In consideration of the Employee's compensation, access
to Confidential Information, and equity participation, the Employee agrees that during the Employee's employment with the Company
and for a period of twelve (12) months following the termination of employment for any reason (the "**Restricted Period** "),
the Employee shall not, directly or indirectly, anywhere in the United States, Canada, or any other jurisdiction in which the Company
is actively conducting or has demonstrable plans to conduct business as of the date of termination, engage in, advise, manage, operate,
or be employed by, or provide services similar to those performed by the Employee for the Company during his employment, to any business
that is competitive with the research, development, manufacture, or commercialization of pharmaceutical, biotechnology, or life-sciences
products or platforms that are materially similar to or competitive with those of the Company as conducted during the twelve (12) months
preceding termination. This Section 7.7 shall not prohibit the Employee from passive investments permitted under Section 7.7(a) or
service expressly permitted under Section 7.7(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *Post-Termination Non-Solicitation*. During the Restricted Period, the Employee shall not, directly
or indirectly:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) solicit, induce, or encourage any employee, consultant, or independent contractor of the Company to terminate
or modify their relationship with the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) solicit or attempt to solicit any customer, collaboration partner, licensee, supplier, or other business
partner of the Company, for the purpose of providing products or services competitive with those of the Company, or to otherwise cause
such person to cease or reduce the scope or extent of its business relationship with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) *Intellectual Property – Background IP Carve-Out*. The Employee acknowledges that the Company's
business depends on the protection of its proprietary scientific, technical, and commercial intellectual property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Background Intellectual Property. The Employee shall not be required to assign to the Company any inventions,
discoveries, developments, works of authorship, patents, data, or other intellectual property that were conceived, developed, or reduced
to practice by the Employee prior to the commencement of employment or outside the scope of the Employee's services for the Company
(" **Background IP** "), provided that such Background IP is disclosed in writing to the Company prior to or promptly following
the commencement of employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) No Implied Assignment. Nothing in this Agreement shall be construed to require the assignment of any Background
IP to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) License to Background IP if Used. To the extent that any Background IP is incorporated into, used in connection
with, or is necessary for the development, manufacture, or commercialization of the Company's products, services, or research programs,
the Employee hereby grants to the Company a perpetual, irrevocable, worldwide, royalty-free, fully paid-up, transferable, and sublicensable
license to use, reproduce, modify, develop, commercialize, and otherwise exploit such Background IP solely in connection with the Company's
business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) *Company Intellectual Property*. All inventions, discoveries, developments, works of authorship,
data, improvements, and other intellectual property conceived, developed, or reduced to practice by the Employee, alone or jointly with
others, during the term of employment and within the scope of the Employee's duties or using Company resources shall be the sole
and exclusive property of the Company and shall constitute a "work made for hire" to the maximum extent permitted by law.
To the extent not deemed a work made for hire, the Employee hereby irrevocably assigns all right, title, and interest therein to the Company.

7.8 **No Other Entitlements Upon Termination.** The Employee agrees that the amounts payable pursuant to
this Section 7 shall be the maximum notice or compensation to which the Employee is entitled in lieu of reasonable notice, including
statutory, contractual and common law amounts, and the Company will have no further obligations to the Employee with respect to the termination
of this Agreement or his employment, including without limitation further compensation, severance pay or damages.

7.9 **Termination by Mutual Agreement or Force Majeure.** The Employee's employment may be terminated
at any time by mutual written agreement of the Parties. In addition, the Company may terminate the Employee's employment upon the
occurrence of a force majeure event that renders continued performance impracticable or impossible, in accordance with applicable law.
In each case, such termination will not be considered a termination without Cause.

**8.** **TAXES** 

8.1 **Withholding.** All payments and benefits provided to the Employee
pursuant to this Agreement will be paid or provided net of any tax or other amounts that the Company is required to withhold under applicable
laws and regulations. Nothing in this Agreement should be construed to require the Company to make any payments to compensate the Employee
for any adverse tax effect associated with any payments or benefits or for any deduction or withholding from any payment or benefit.

8.2 **Section 409A.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding anything in this Agreement to the contrary, if at the time of the Employee's separation
from service within the meaning of Section 409A of the U.S. Internal Revenue Code of 1986, as amended (the "**Code** "),
the Employee is a "specified employee" within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent
that any payment or benefit of "non-qualified deferred compensation" (as such term is used in Section 409A of the Code)
under this Agreement becomes payable upon a separation from service (and not due to any other permissible payment event, such as the lapsing
of a substantial risk of forfeiture), the Company will defer such payment until the earlier of (i) six months and one day after the
Employee's separation from service and (ii) the Employee's death. If any such delayed cash payment is otherwise payable
on an installment basis, the first payment occurring after the mandatory deferral contemplated in the immediately preceding sentence will
include a catch-up payment covering amounts that would have otherwise been paid during the deferral period but for the application of
this provision, and the Company will pay the balance of the installments in accordance with their original schedule.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company will pay or provide all in-kind benefits and taxable expense reimbursements under this Agreement
as soon as administratively practicable when due, but in no event will the Company provide any taxable expense reimbursement after the
last day of the taxable year following the taxable year in which the expense is incurred. The amount of in-kind benefits provided or taxable
expense reimbursements in one taxable year will not affect the amount available in any other taxable year (except for any lifetime or
other aggregate limitation applicable to medical expenses), and no such right to reimbursement or in-kind benefits is subject to liquidation
or exchange for another benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) To the extent that any payment or benefit of "non-qualified deferred compensation" under this
Agreement becomes payable upon the Employee's termination of employment (and not due to any other permissible payment event, such
as the lapsing of a substantial risk of forfeiture), then the Company will pay or provide such payments or benefits only if such termination
of employment constitutes a "separation from service" (as such term is used in Section 409A of the Code). The Company
will determine whether and when a separation from service has occurred in accordance with the presumptions set forth in Treasury Regulation
Section 1.409A-1(h).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Parties intend that this Agreement will be administered in accordance with Section 409A of the
Code. To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision
should be read in such a manner so that all payments hereunder comply with, or are exempt from, Section 409A of the Code. Each payment
pursuant to this Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A 2(b)(2).
The Parties agree that this Agreement may be amended, as reasonably requested by either Party, and as may be necessary, to fully comply
with, or be exempt from, Section 409A of the Code while preserving the payments and benefits provided hereunder to the greatest possible
extent without additional cost to either Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Company makes no representation or warranty and accepts no liability to the Employee or any other
person if any provision of this Agreement is determined to provide for "nonqualified deferred compensation" subject to Section 409A
of the Code in a manner that does not comply with Section 409A of the Code.

8.3 **Section 280G.** If any payments or benefits provided under this Agreement, either alone or together
with other payments or benefits which Employee receives or is entitled to receive from the Company or any of its Affiliates, would constitute
an "excess parachute payment" within the meaning of Section 280G of the Code:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Employee shall be entitled to receive (i) an amount limited so that no portion thereof shall fail
to be tax deductible under Section 280G of the Code or subject to an excise tax under Section 4999 of the Code (the "**Limited Amount** "), or (ii) if the amount otherwise payable hereunder together with other payments or benefits which Employee receives
or is entitled to receive from the Company or any of its applicable Affiliates (without regard to clause (i)) reduced by all taxes applicable
thereto (including, for the avoidance of doubt, the excise tax imposed by Section 4999 of the Code) would be greater than the Limited
Amount reduced by all taxes applicable thereto, the amount otherwise payable hereunder together with other payments or benefits which
Employee receives or is entitled to receive from the Company or any of its applicable Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If any payments under this Agreement or otherwise are required to be reduced as described in this Section 8.3,
the Company shall reduce the Payments in the following order: (i) by reducing cash severance amounts in reverse chronological order
of payment, then (ii) by reducing any accelerated vesting benefits in reduce chronological order of vesting date, applied first with
respect to any accelerated vesting that is not subject to Treas. Reg. § 1.280G-1 Q/A 24(c), and applied last with respect to any
accelerated vesting that is subject to Treas. Reg. § 1.280G-1 Q/A 24(c).

**9.** **DIRECTORSHIP AND OFFICES** 

9.1 **Directorship and Offices Upon Termination of the Employee.** Upon termination of the Employee's
employment with the Company or his ceasing to serve as the Chief Financial Officer of the Company for any reason, the Employee shall be
deemed to have immediately resigned from all other directorships and offices held in the Company, the Parent, or any subsidiary or affiliated
companies and, except as provided in this Agreement, the Employee will not be entitled to receive any written notice of termination or
payment in lieu of notice, or to receive any other severance pay, damages or compensation for loss of such directorships or offices.

**10.** **MISCELLANEOUS** 

10.1 **Governing Law.** This Agreement shall be governed by, and interpreted in accordance with, the laws
of Delaware and the laws of the United States of America as applicable therein.

10.2 **Employee's Representations and Covenants.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Third-Party Agreements and Rights*. The Employee represents that the Employee is not bound by the
terms of any agreement with any previous employer or other party that restricts or could reasonably be interpreted to restrict in any
way the Employee's employment or services hereunder. The Employee represents to the Company that the Employee's execution
of this Agreement, the Employee's employment with the Company, and the Employee's performance of the duties required hereunder
will not violate any obligations the Employee has to any such previous employer or other party. In the Employee's work for the Company,
the Employee will not disclose or make use of any information in violation of any agreements with or rights of any such previous employer
or other party, and the Employee will not bring to the premises of the Company any copies or other tangible embodiments of non-public
information belonging to or obtained from any such previous employment or other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Litigation and Regulatory Cooperation*. During and after the Employee's employment, the Employee
agrees to reasonably cooperate with the Company in (i) the defense or prosecution of any claims or actions now in existence or that
may be brought against or on behalf of the Company (other than claims brought on behalf of the Company against the Employee) that relate
to events or occurrences that transpired while the Employee was employed by the Company and (ii) the investigation, whether internal
or external, of any matters about which the Company reasonably believes the Employee may have knowledge or information. The Employee's
reasonable cooperation in connection with such claims, actions, or investigations may include, but are not limited to, being available
to meet with counsel (telephonically or via Zoom or similar remote meeting devices) to answer questions or to prepare for discovery or
trial and to act as a witness on behalf of the Company at mutually convenient times. During and after the Employee's employment,
the Employee also agrees to cooperate with the Company in connection with any investigation or review of any federal, state, or local
regulatory authority to the extent that any such investigation or review relates to events or occurrences that transpired while the Employee
was employed by the Company. All requests for the Employee's cooperation, and scheduling of meetings, phone calls, video conferences,
and the like, will be made with due regard for the Employee's professional and personal obligations. The Company will reimburse
the Employee for any reasonable out-of-pocket expenses incurred in connection with the Employee's performance of obligations pursuant
to this Section 10.2(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Cooperation in Legal Matters*. Employee agrees that, upon reasonable request by the Company or the
Parent at any time during the Term or thereafter, he will cooperate and participate in the investigation, prosecution, or defense of any
matter involving the Company or the Parent or any other matter that arose during his employment. If such activities are required after
termination of Employee's employment with the Company or the Parent, the Company shall compensate Employee for the reasonable value
of the time required for such participation and reimburse him for any reasonable travel and out-of-pocket expenses incurred in providing
such participation at its request in accordance with the Company's business expense reimbursement policies as then in effect. The
purpose of such reimbursement is to avoid cost to the Employee and not to influence his participation.

10.3 **Dispute Resolution.** To ensure the rapid and economical resolution
of disputes that may arise in connection with the Employee's employment with the Company, the Employee and the Company agree that
all disputes, claims, and causes of action, in law or equity, including but not limited to statutory claims, arising from or relating
to the enforcement, breach, performance, or interpretation of this Agreement, the Employee's employment with the Company, or the
termination of the Employee's employment from the Company, will be resolved pursuant to the Federal Arbitration Act, 9 U.S.C. §§1-16,
and to the fullest extent permitted by law, by final, binding, and confidential arbitration conducted in New York, New York, by JAMS, Inc.
(" **JAMS** "), or its successors, under JAMS' then-applicable rules and procedures for employment disputes (which
can be found at http://www.jamsadr.com/rules-clauses); provided that the arbitrator will have the authority to compel adequate discovery
for the resolution of the dispute and to award such relief as would otherwise be permitted by law and must issue a written arbitration
decision including the arbitrator's essential findings and conclusions and a statement of the award. The Employee and the Company
will be entitled to all rights and remedies that they would be entitled to pursue in a court of law. Both the Employee and the Company
acknowledge that by agreeing to this arbitration procedure, the Employee and the Company waive the right to resolve any such dispute through
a trial by jury or judge or administrative proceeding. The Company will pay all filing fees in excess of those that would be required
of the Employee if the dispute were decided in a court of law and will pay the arbitrator's fee. Nothing in this Agreement is intended
to prevent either the Company or the Employee from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion
of any such arbitration. With respect to the foregoing, the Parties hereby consent to the jurisdiction of the state and federal courts
sitting in the State of New York. Accordingly, with respect to any such court action, the Employee and the Company each (a) submit
to the exclusive personal jurisdiction of such courts, (b) consent to service of process, and (c) waive any other requirement
(whether imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction or service of process.

Employee Initials: KV

10.4 **Waiver of Jury Trial.** EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ALL RIGHT TO TRIAL BY JURY
IN ANY PROCEEDING (WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE EMPLOYEE'S
EMPLOYMENT BY THE COMPANY OR ANY AFFILIATE OF THE COMPANY, INCLUDING WITHOUT LIMITATION THE EMPLOYEE'S OR THE COMPANY'S
PERFORMANCE UNDER, OR THE ENFORCEMENT OF, THIS AGREEMENT.

Employee Initials: KV

10.5 **Personal Information.** The Employee acknowledges that the Company will collect, use and disclose
personal information only where reasonably necessary for security, employment and business purposes. The Employee consents to the Company's
collection, use and disclosure of personal information about the Employee only where reasonably necessary for security, employment and
business purposes in accordance with applicable legislation and any privacy policy of the Company that may be in effect from time to time.

10.6 **Assignment.** This Agreement shall be binding upon and inure to the benefit of the Company and its
successors and assigns. The Employee's rights and obligations contained in this Agreement are personal and such rights, benefits
and obligations shall not be voluntarily or involuntarily assigned, alienated or transferred, whether by operation of law or otherwise,
without the prior written consent of the Company.

10.7 **Waiver.** Any waiver of any breach or default under this Agreement shall only be effective if in
writing signed by the party against whom the waiver is sought to be enforced, and no waiver shall be implied by any other act or conduct
or by any indulgence, delay or omission. Any waiver shall apply only to the specific matter waived and only in the specific instance in
which it is waived.

10.8 **Further Assurances.** The Parties will execute and deliver to each other such further instruments
and assurances and do such further acts as may be required to give effect to this Agreement.

10.9 **Enforceability.** If any provision of this Agreement or any part thereof shall for any reason be
held to be invalid or unenforceable in any respect, then such invalid or unenforceable provision or part shall be severable and severed
from this Agreement and the other provisions of this Agreement shall remain in effect and be construed as if such invalid or unenforceable
provision or part had never been contained herein.

10.10 **Confidentiality.** The Employee shall keep the terms and conditions of this Agreement confidential
and shall not disclose its contents other than to his spouse, legal and financial advisors on the understanding that they too will keep
its contents confidential or except as may be required to enforce any provisions of this Agreement or as may otherwise be required by
any law, regulation or other regulatory requirement.

10.11 **Independent Review.** Both Parties acknowledge that they have carefully reviewed and understand the
provisions of this Agreement and the Parties acknowledge and agree that the terms are mutually fair and equitable. It was fully and plainly
recommended to the Employee that independent legal and tax advice be obtained prior to entering into this Agreement.

10.12 **Indemnity.** The Company will include the Employee as a named insured under its directors'
and officers' liability insurance policy to be maintained for the Company's directors and officers. The Company shall indemnify
the Employee in accordance with the Indemnity Agreement executed by the Employee on April 24, 2026.

10.13 **Integration.** This Agreement (including all referenced and attached agreements and the policies
and procedures of the Company, as amended from time to time) constitutes the entire agreement between the Employee and the Company regarding
the Employee's employment with the Company and supersedes all prior understandings and agreements regarding the Employee's
employment. There are no representations, warranties, terms, conditions, undertakings or collateral agreements, express, implied or statutory,
between the Employee and the Company other than as expressly set forth in this Agreement.

10.14 **Notices.** All notices, requests, demands, and other communications
provided for by this Agreement will be sufficient if in writing and delivered in person or sent by a nationally recognized overnight courier
service or by registered or certified mail, postage prepaid, return receipt requested, by email with written acknowledgment by the receiving
Party, to the Employee at the last address or email address the Employee has filed in writing with the Company or, in the case of the
Company, at its main offices, attention of the Board.

10.15 **Survival** **.** The provisions of this Agreement will survive
the termination of the Term and the Employee's employment to the extent necessary to effectuate the terms contained herein.

10.16 **Amendment.** This Agreement may be amended or modified only by a written instrument signed by the
Employee and by a duly authorized representative of the Company.

10.17 **Counterparts.** This Agreement may be executed in any number of counterparts, each of which when
so executed and delivered should be taken to be an original; but such counterparts together constitute one and the same document.

10.18 **Name, Image and Likeness**. During the Employee's employment and after the Employee's
employment with the Company ends, the Employee consents to the Company's use of the Employee's name, image, likeness, voice,
or other characteristics in the Company's website, products or services without any additional compensation other than provided
in this Agreement. The Employee releases the Company from any cause of action that the Employee has or may have arising out of the use,
distribution, adaptation, reproduction, broadcast, or exhibition of such characteristics.

[S*ignature Page Follows*]

**IN WITNESS WHEREOF** the Parties have executed this Agreement as of the date set forth above, notwithstanding its actual date of execution.

---

| | |
|:---|:---|
| /s/ Keith Vendola, MD, MBA | /s/ Keith Vendola, MD, MBA |
| **KEITH VENDOLA, MD, MBA** | **KEITH VENDOLA, MD, MBA** |
| **NERVGEN US INC.** | **NERVGEN US INC.** |
| By: | /s/ Adam Rogers |
| **Adam Rogers, Chief Executive Officer** | **Adam Rogers, Chief Executive Officer** |

---

## Exhibit 10.3

**Exhibit 10.3**

**NERVGEN PHARMA CORP.**

**2026 EQUITY INCENTIVE PLAN**

ARTICLE I.<br> PURPOSE

The purpose of this NervGen Pharma Corp., 2026 Equity Incentive Plan (this "**Plan**") is to promote the success of the Company's business for the benefit of its shareholders by aligning employee and shareholder interests through the grant of awards to offer Eligible Individuals equity-based incentives in order to attract, retain, and reward such individuals and strengthen the alignment of interests between such individuals and the Company's shareholders.

This Plan supersedes and replaces the NervGen Pharma Corp., Amended and Restated Stock Option Plan (the "**Prior Plan**") in its entirety. The Company may not grant awards under the Prior Plan on or following the Effective Date. Awards granted under the Prior Plan prior to the Effective Date will remain subject to the terms and conditions set forth in the Prior Plan.

ARTICLE II.<br> DEFINITIONS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 "**Affiliate**" means a corporation or other entity controlled by, controlling, or under common control with the Company. The term "control" (including, with correlative meaning, the terms "controlled by" and "under common control with"), as applied to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of management and policies of such Person, whether through the ownership of voting or other securities, by contract or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 "**Applicable Law**" means the requirements applicable to the Company or any Eligible Individual relating to equity- or cash-based compensation, as applicable, and the related equity interests under U.S. and Canadian federal, state, provincial, and local law, as applicable, foreign law, the rules or requirements of any stock exchange or quotation system on which the Shares are listed or quoted, and any other applicable laws, including the Code and other tax laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 "**Award**" means an award under this Plan of any Stock Option, Restricted Stock Unit, Dividend Equivalent Right, or Other Stock-Based Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 "**Award Agreement**" means the written or electronic agreement, contract, certificate, or other instrument or document evidencing the terms and conditions of an individual Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 "**Board**" means the Board of Directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 "**Cause**" means, unless otherwise defined in the applicable Award Agreement, either (a) where there is an employment agreement, offer letter, consulting agreement, change in control agreement, or similar agreement in effect between the Company or an Affiliate and the Participant at the time of the grant of the Award that defines "cause" (or term of like import), "cause" (or term of like import) as defined under such agreement, or (b) where clause (a) above does not apply, the Participant's (i) commission of, or plea of guilty or no contest to, a felony or a crime involving moral turpitude or the commission of any other act or omission involving willful malfeasance or material fiduciary breach with respect to the Company or an Affiliate, (ii) substantial and repeated failure to perform duties as reasonably directed by the person to whom the Participant reports, (iii) conduct that brings or is reasonably likely to bring the Company or an Affiliate negative publicity or into public disgrace, embarrassment, or disrepute, (iv) gross negligence or willful misconduct with respect to the Company or an Affiliate, (v) material violation of the Company's policies or codes of conduct, including policies related to discrimination, harassment, performance of illegal or unethical activities, or ethical misconduct, or (vi) breach of any non-competition, non-solicitation, no-hire, or confidentiality covenant between the Participant and the Company or an Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7 "**Change in Control**" means each of the following, unless otherwise set forth in the applicable Award Agreement or other written agreement with a Participant that is approved by the Committee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any Person (other than the Company, any trustee or other fiduciary holding securities under any employee benefit plan of the Company, or any entity owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of the Company), becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company's then-outstanding securities, excluding for purposes herein, acquisitions pursuant to a Business Combination (as defined below) that does not constitute a Change in Control as defined in Section 2.7(b),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a merger, amalgamation, arrangement, reorganization, or consolidation of the Company or in which equity securities of the Company are issued (each, a "**Business Combination**"), other than a merger, amalgamation, arrangement, reorganization, or consolidation after which the voting securities of the Company outstanding immediately prior thereto continue to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its direct or indirect parent) more than 50% of the combined voting power of the voting securities of the Company or such surviving entity (or, as applicable, a direct or indirect parent of the Company or such surviving entity) outstanding immediately after such merger, amalgamation, arrangement, reorganization, or consolidation; provided, however, that a merger, reorganization, or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person (other than those covered by the exceptions in Section 2.7(a)) acquires more than 50% of the combined voting power of the Company's then-outstanding securities will not constitute a Change in Control,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) during any two-year period, individuals who, at the beginning of such period, constitute a majority of the Board together with any new director(s) (other than a director designated by a Person who has entered into an agreement with the Company to effect a transaction described in Sections 2.7(a) or (b)) whose election by the Board or nomination for election by the Company's shareholders was approved by a vote of at least a majority of the directors then still in office who either were directors at the beginning of the two-year period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) a complete liquidation or dissolution of the Company or the consummation of a sale or disposition by the Company of all or substantially all of the Company's assets other than the sale or disposition of all or substantially all of the assets of the Company to a Person or Persons who beneficially own, directly or indirectly, 50% or more of the combined voting power of the outstanding voting securities of the Company at the time of the sale.

Notwithstanding the foregoing, with respect to any Award that provides for a "deferral of compensation" within the meaning of Section 409A that is payable upon a Change in Control, an event will not constitute a Change in Control under this Plan for purposes of payment of such Award unless such event is also a "change in ownership," a "change in effective control," or a "change in the ownership of a substantial portion of the assets" of the Company within the meaning of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8 "**Change in Control Price**" means the highest price per Share paid in any transaction related to a Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9 "**Code**" means the U.S. Internal Revenue Code of 1986, as amended from time to time. Any reference to a specific section of the Code or regulation thereunder includes such section or regulation, any valid regulation or interpretation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing, or superseding such section or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10 "**Committee**" means any committee of the Board duly authorized by the Board to administer this Plan; <u>provided</u>, <u>however</u>, that unless otherwise determined by the Board, the Committee must consist solely of two or more members of the Board who are each (a) a "non-employee director" within the meaning of Rule 16b-3(b) and (b) "independent" under the listing standards or rules of the securities exchange upon which the Shares is traded, but only to the extent that such independence is required in order to take the action at issue pursuant to such standards or rules. If no committee is duly authorized by the Board to administer this Plan, the term "Committee" will be deemed to refer to the Board for all purposes under this Plan. The Board may abolish any Committee or re-vest in itself any previously delegated authority from time to time and will retain the right to exercise the authority of the Committee to the extent consistent with Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11 "**Company**" means NervGen Pharma Corp., a corporation governed by the Business Corporations Act (*British Columbia*), and its successors by operation of law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12 "**Consultant**" means any natural person who is an advisor or consultant or other service provider to the Company or any of its Affiliates unless the Committee determines that an exemption from applicable prospectus requirements is not available with respect to the grant of an Award to such person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13 "**Detrimental Conduct**" means a Participant's serious misconduct or unethical behavior, including any of the following: (a) any violation by the Participant of a restrictive covenant agreement to which the Participant is a party with the Company or an Affiliate (covering, for example, confidentiality, non-competition, non-solicitation, non-disparagement, etc.), (b) any conduct by the Participant that could result in the Participant's Termination of Service for Cause, (c) the commission of a criminal act by the Participant, whether or not performed in the workplace, that subjects, or if generally known would subject, the Company or an Affiliate to public ridicule or embarrassment, or other improper or intentional conduct by the Participant causing reputational harm to the Company, an Affiliate, or a client or former client of the Company or an Affiliate, (d) the Participant's breach of a fiduciary duty owed to the Company or an Affiliate or a client or customer or a former client or customer of the Company or an Affiliate, or (e) the Participant's intentional violation, or grossly negligent disregard, of the Company's or an Affiliate's policies, rules, or procedures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14 "**Disability**" means, unless otherwise defined in the applicable Award Agreement, the Participant's inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment, after accounting for reasonable accommodations (if applicable and required by Applicable Law); <u>provided</u>, <u>however</u>, for purposes of an Incentive Stock Option, the term Disability will have the meaning ascribed to it under Section 22(e)(3) of the Code. The Committee will determine whether an individual has a Disability, and in so doing the Committee may rely on any determination that a Participant is disabled for purposes of eligibility for benefits under any long-term disability plan in which the Participant participates that is maintained by the Company or any Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15 "**Dividend Equivalent Right**" means a right granted to a Participant under this Plan to receive, subject to the terms of the applicable Award Agreement, the equivalent value (in cash or Shares) of dividends paid on Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.16 "**Effective Date**" means the effective date of this Plan as defined in ARTICLE XIII.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17 "**Eligible Employee**" means an employee of the Company or any of its Affiliates. An employee on a leave of absence may be an Eligible Employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.18 "**Eligible Individual**" means an Eligible Employee, Non-Employee Director, or Consultant whom the Committee designates in its discretion as eligible to receive an Award in accordance with the terms and conditions of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19 "**Exchange Act**" means the U.S. Securities Exchange Act of 1934, as amended from time to time. Any reference to a specific section of the Exchange Act or regulation thereunder includes such section or regulation, any valid regulation or interpretation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing, or superseding such section or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20 "**Fair Market Value**" means, unless otherwise required by Applicable Law, as of any date and except as provided below, either (a) the last sales price reported for the Shares on the applicable date on the principal national securities exchange in the United States on which they are then traded, listed, or otherwise reported or quoted or the value of the Shares as determined by the Committee applying any other reasonable method using actual transactions in the Shares as reported on such exchange in accordance with the requirements of Section 409A or other Applicable Law, or (b) if the Shares are not traded, listed, or otherwise reported or quoted on a national securities exchange in the United States, the Committee will determine in good faith the Fair Market Value in whatever manner it considers appropriate. When determining Fair Market Value under clause (a) above for any purpose in connection with the grant of an Award, the date of determination will be the trading day immediately prior to the date on which the Award is granted. When determining Fair Market Value under clause (a) above for any purpose in connection with the exercise of an Award, the date of determination will be the date on which a notice of exercise is received by the Company or, if not a date on which the applicable market is open, the next day on which it is open.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.21 "**Family Member**" has meaning given to it in the general instructions of Form S-8.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.22 "**Incentive Stock Option**" means any Stock Option granted to an Eligible Employee who is an employee of the Company, its Parents, or its Subsidiaries and that is intended to be, and is designated in the applicable Award Agreement as, an "incentive stock option" within the meaning of Section 422 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.23 "**Non-Employee Director**" means a director on the Board who is not an employee of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.24 "**Non-Qualified Stock Option**" means any Stock Option that is not an Incentive Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25 "**Other Stock-Based Award**" means an award pursuant to ARTICLE VIII that is valued in whole or in part by reference to, or is payable in or otherwise based on, Shares, but may be settled, subject to the terms of the applicable Award Agreement, in the form of Shares or cash.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.26 "**Parent**" means any "parent corporation" of the Company within the meaning of Section 424(e) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.27 "**Participant**" means an Eligible Individual who has accepted and holds an Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28 "**Person**" has the meaning given to it in Sections 13(d) and 14(d) of the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.29 "**Restricted Stock Unit**" means an unfunded, unsecured right to receive, on the applicable settlement date, subject to the terms of the applicable Award Agreement, one Share or an amount in cash or other consideration determined by the Committee to be of equal value as of such settlement date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30 "**Rule 16b-3**" means Rule 16b-3 under Section 16(b) of the Exchange Act as then in effect or any successor provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.31 "**Section 409A**" means Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.32 "**Securities Act**" means the U.S. Securities Act of 1933, as amended, and all rules and regulations promulgated thereunder. Any reference to a specific section of the Securities Act or regulation thereunder includes such section or regulation, any valid regulation or interpretation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing, or superseding such section or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.33 "**Shares**" means the common shares, no par value per share, of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.34 "**Stock Option**" means an option to purchase Shares pursuant to ARTICLE VI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35 "**Subsidiary**" means a subsidiary corporation of the Company within the meaning of Section 424(f) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36 "**Ten-Percent Shareholder**" means a Person owning stock representing more than ten percent (10%) of the total combined voting power of all classes of shares of the Company, its Parent, or its Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.37 "**Termination of Service**" means the termination of the applicable Participant's employment with, or performance of services for, the Company and its Affiliates. Unless otherwise determined by the Committee, (a) if a Participant's employment or services with the Company and its Affiliates terminates but such Participant continues to provide services to the Company and its Affiliates in a non-employee capacity, such change in status will not be deemed a Termination of Service with the Company and its Affiliates, and (b) a Participant employed by, or performing services for, an Affiliate that ceases to be an Affiliate will also be deemed to have suffered a Termination of Service if the Participant does not immediately thereafter become an employee of, or other service provider to, the Company or another Affiliate. Notwithstanding the foregoing, with respect to any Award that provides for a "deferral of compensation" within the meaning of Section 409A that is payable upon a Termination of Service, a Participant will not be considered to have suffered a "Termination of Service" for purposes of payment of such Award unless the Participant has suffered a "separation from service" within the meaning of Section 409A.

ARTICLE III.

ADMINISTRATION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <u>Authority of the Committee</u>. The Committee will administer this Plan in accordance with its terms and Applicable Law, and in furtherance thereof, the Committee will have complete authority at any time and from time to time, in its sole discretion, to cause the Company to grant Awards to Eligible Individuals and to do the following, in each case to the extent not inconsistent with the terms of this Plan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) determine whether and to what extent one or more Awards are to be granted to one or more Eligible Individuals,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) determine the number of Shares or cash amount to be covered by Awards,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) determine the terms and conditions of Awards, including but not limited to the exercise or purchase price (if any), any condition, restriction, or limitation on receipt or retention, any vesting schedule and vesting terms, including performance-related vesting terms, and any forfeiture restrictions or waiver thereof,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) determine whether, to what extent, and under what circumstances Awards are to operate on a tandem basis or in conjunction with or apart from other awards made by the Company outside of this Plan,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) determine whether, to what extent, and under what circumstances an Award may be settled in cash, Shares, other property, or a combination of the foregoing,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) determine whether, to what extent, and under what circumstances cash, Shares, or other property payable with respect to an Award must or may be deferred either automatically or at the election of the Participant,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) modify, waive, amend, or adjust the terms and conditions of any Award,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) determine whether a Stock Option is an Incentive Stock Option or Non-Qualified Stock Option,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) determine whether to require a Participant, as a condition of the granting, retention, or settlement of any Award, to not sell or otherwise dispose of Shares acquired pursuant to the exercise, vesting, or settlement of an Award for a specified period of time following the date of the acquisition of such Award or Shares,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) modify, extend, or renew an Award,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) determine how the Disability, death, retirement, authorized leave of absence, or any other change or purported change in a Participant's status affects an Award and the extent to which, and the period during which, the Participant or the Participant's legal representative, conservator, guardian, or beneficiary may exercise rights under the Award, if applicable,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) adopt, alter, and repeal administrative rules, guidelines, and practices governing this Plan,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) construe and interpret the terms and provisions of this Plan and any Award (and any agreements or sub-plans relating thereto),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) correct any defect, supply any omission, or reconcile any inconsistency in this Plan or in any agreement relating thereto in the manner and to the extent that it deems necessary to effectuate the purpose and intent of this Plan, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) adopt special rules, sub-plans, guidelines, and provisions for persons who are residing in or employed in, or subject to, the laws of any domestic or foreign jurisdictions to satisfy or accommodate such laws or to qualify for preferred tax treatment thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <u>Designation of Consultants; Delegation of Authority</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Committee may employ such legal counsel, consultants, and agents as it deems desirable for the administration of this Plan and may in good faith rely upon any opinion or calculation received from any of them. The Company will pay for all expenses incurred in connection with any such engagement. To the maximum extent permitted by Applicable Law, neither the Board, the Committee, nor any of their respective members or delegates, nor any third party engaged pursuant to this Section 3.2, will be liable for any action or determination made in good faith with respect to this Plan or any Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Committee may delegate any or all of its powers and duties under this Plan to a subcommittee of directors or to any officer of the Company, including the power to perform administrative functions (including executing agreements or other documents on behalf of the Committee) and to grant Awards, provided that such delegation does not (i) violate Applicable Law or (ii) result in the loss of an exemption under Rule 16b-3(d)(1) for Awards granted to Participants subject to Section 16 of the Exchange Act in respect of the Company. Upon any such delegation, all references in this Plan to the "**Committee**" are deemed to include any subcommittee or person to whom the Committee has delegated such powers. No such delegation will limit the right of such subcommittee members or officers to receive Awards; <u>provided</u>, <u>however</u>, that no such delegate may cause the Company to grant Awards to himself or herself, a member of the Board, or any executive officer of the Company or an Affiliate, or take any action with respect to any Award previously granted to himself or herself, a member of the Board, or any executive officer of the Company or an Affiliate. The Committee may also designate employees or professional advisors who are not officers of the Company or members of the Board to assist in administering this Plan, <u>provided</u>, <u>however</u>, that such individuals may not be delegated the authority to grant or modify any Awards that will, or may, be settled in Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 <u>Administrative Discretion; Decisions Final</u>. Each decision, interpretation, and other action made or taken in good faith by or at the direction of the Company, the Board, or the Committee (or any of its members), or any of their respective delegates, arising out of or in connection with this Plan may be made in the absolute discretion of all and each of them, as the case may be, and will be final, binding, and conclusive on the Company and all employees and other services providers, including prospective employees and service providers, and all Participants, and their respective heirs, executors, administrators, successors, and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 <u>Indemnification</u>. To the maximum extent permitted by Applicable Law and to the extent not covered by insurance directly insuring such person, the Company will indemnify and hold harmless each officer and employee of the Company and its Affiliates, and each member of the Committee or the Board, whether during or after his or her service with the Company and its Affiliates, against all costs and expenses (including reasonable fees of counsel acceptable to the Committee) and liabilities (including any sum paid in settlement of a claim with the approval of the Committee), arising out of any act or omission to act that is authorized by the terms of this Plan in connection with the administration of this Plan, and will advance amounts necessary to pay the foregoing as incurred, except in any case to the extent arising out of such person's own fraud or bad faith. Such indemnification will be in addition to any right of indemnification that such person has under Applicable Law, contract with the Company, or under the articles or by-laws of the Company or any of its Affiliates.

ARTICLE IV.

SHARE LIMITATIONS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <u>Shares</u>. The aggregate number of Shares that the Company may issue or deliver pursuant to this Plan may not exceed 3,000,000 Shares (subject to any increase or decrease pursuant to this ARTICLE IV), which Shares may be either authorized and unissued Shares or Shares held in or acquired for the treasury of the Company or both. The number of Shares that the Company may issue or deliver pursuant to this Plan will increase on January 1 of each calendar year from 2027 through 2036 by the lesser of (a) 5% of the aggregate number of Shares and prefunded warrants to purchase Shares outstanding on December 31 of the immediately preceding calendar year and (b) such smaller number of Shares determined by the Board. The aggregate number of Shares that the Company may issue or deliver with respect to any Incentive Stock Option may not exceed 3,000,000 Shares (subject to any increase or decrease pursuant to Section 4.3). Notwithstanding anything to the contrary contained herein, Shares subject to an Award or any award under the Prior Plan (a "**Prior Plan Award**") will again be made available for issuance or delivery under this Plan if such Shares are (i) delivered, withheld, or surrendered in payment of the exercise or purchase price of an Award or Prior Plan Award, (ii) delivered, withheld, or surrendered to satisfy any tax withholding obligation, or (iii) subject to a stock-settled Award or Prior Plan Award that expires or is canceled, forfeited, or terminated without issuance of the full number of Shares to which the Award or Prior Plan Award related.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <u>Substitute Awards</u>. In connection with an entity's merger or consolidation with the Company or the Company's acquisition of an entity's property or stock, the Committee may grant Awards in substitution for any options or other stock or stock-based awards granted before such merger or consolidation by such entity or its affiliate ("**Substitute Awards**"). Substitute Awards may be granted on such terms as the Committee deems appropriate, notwithstanding limitations on Awards in this Plan. Substitute Awards will not count against the Shares authorized for grant under this Plan (nor will Shares subject to a Substitute Award be added to the Shares available for Awards under this Plan as provided under Section 4.1 above), except that Shares acquired by exercise of substitute Incentive Stock Options will count against the maximum number of Shares that may be issued pursuant to the exercise of Incentive Stock Options under this Plan, as set forth in Section 4.1 above. Additionally, if a Person acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines has shares available under a pre-existing plan approved by shareholders and not adopted in contemplation of such acquisition or combination, the shares available for grants pursuant to the terms of such preexisting plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such acquisition or combination to determine the consideration payable to the holders of common stock of the entities party to such acquisition or combination, or if such consideration is in the form of cash, such exchange ratio or other adjustment or valuation ratio or formula determined by the Committee as referring to the ratio between such cash consideration and the Fair Market Value of the Shares at the time of such transaction) may be used for Awards under this Plan without reducing the Shares authorized for issuance or delivery pursuant to this Plan (and Shares subject to such Awards will not be added back to the Shares available for Awards under this Plan as provided under Section 4.1 above); <u>provided</u> that Awards using such available shares may not be granted after the last date on which awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and may be granted only to individuals who were not Eligible Employees or Non-Employee Directors prior to such acquisition or combination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <u>Adjustments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The existence of this Plan and the Awards granted hereunder will not affect in any way the right or power of the Board or the shareholders of the Company to make or authorize (i) any adjustment, recapitalization, reorganization, or other change in the Company's capital structure or its business, (ii) any merger, amalgamation, arrangement, or consolidation of the Company or any Affiliate, (iii) any issuance of bonds, debentures, or preferred or prior preference stock ahead of or affecting the Shares, (iv) the dissolution or liquidation of the Company or any Affiliate, (v) any sale or transfer of all or part of the assets or business of the Company or any Affiliate, or (vi) any other corporate act or proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to the provisions of ARTICLE IX:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If the Company at any time subdivides the outstanding Shares into a greater number of Shares (by any split, recapitalization, or otherwise), or combines its outstanding Shares into a lesser number of Shares (by reverse split, combination, or otherwise), then the Committee will, to the extent that it deems necessary, adjust the respective exercise prices for outstanding Awards subject to exercise and the number of Shares covered by outstanding Awards to prevent dilution or enlargement of the rights granted to, or available for, Participants under this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Excepting transactions covered by Section 4.3(b)(i), if the Company effects any merger, amalgamation, arrangement, consolidation, statutory exchange, spin-off, reorganization, sale or transfer of all or substantially all the Company's assets or business, or other corporate transaction or event in such a manner that the Company's outstanding Shares are converted into the right to receive (or the holders of Shares are entitled to receive in exchange therefor), either immediately or upon liquidation of the Company, securities or other property of the Company or other entity, then the Committee will, to the extent that it deems necessary, adjust (A) the aggregate number or kind of securities that thereafter may be issued or delivered pursuant to this Plan, (B) the number or kind of securities or other property (including cash) to be issued or delivered pursuant to Awards (including as a result of the assumption of this Plan and the obligations hereunder by a successor entity, as applicable), and (C) the exercise or purchase price thereof to prevent dilution or enlargement of the rights granted to, or available for, Participants under this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) If there occurs any change in the capital structure of the Company other than those covered by Section 4.3(b)(i) or (ii), or any conversion, adjustment, or issuance of any class of securities convertible or exercisable into, or exercisable for, any class of equity securities of the Company, then the Committee will, to the extent that it deems necessary, adjust any Award and make such other adjustments to this Plan to prevent dilution or enlargement of the rights granted to, or available for, Participants under this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) If the equity interests of the Company are split up, converted, exchanged, reclassified, or in any way substituted for, or if any equity issuance, capital contribution, or other unusual or nonrecurring event occurs (including any acquisition or disposition of any line of business or other material assets), then the Committee may (but will have no obligation to) adjust any Awards outstanding (including any terms and conditions of Awards or any formula for determining the value of any Award) in a manner that the Committee deems appropriate to prevent the enlargement or dilution of the intended rights of the applicable Participant(s), and no such adjustment will be deemed an amendment to any Award or this Plan that is subject to ARTICLE 10 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Except as expressly determined by the Committee pursuant to this Section 4.3 or in the applicable Award Agreement, no Participant will have any additional rights under this Plan by reason of any transaction or event described in this Section 4.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 <u>Annual Limit on Non-Employee Director Compensation</u>. In each calendar year during any part of which this Plan is in effect, a Non-Employee Director may not receive Awards for service on the Board that, taken together with any cash fees paid to such Non-Employee Director during such calendar year for such individual's service on the Board, have a value in excess of US$750,000 (or US$1,000,000 in a Non-Employee Director's first year of service (calculating the value of any such Awards based on the grant date fair value of such Awards for financial reporting purposes)); <u>provided</u>, that for any calendar year in which a Non-Employee Director (i) serves on a special committee of the Board or (ii) serves as lead director or non-executive chair of the Board, additional compensation may be provided to such Non-Employee Director in excess of such limit with respect to such Non-Employee Director; <u>provided</u>, <u>further</u>, that the limit set forth in this Section 4.4 will apply without regard to Awards or other compensation, if any, provided to a Non-Employee Director during any period in which such individual was an employee of the Company or any Affiliate or was otherwise providing services to the Company or to any Affiliate other than in the capacity as a Non-Employee Director.

ARTICLE V.

GENERALLY APPLICABLE TERMS OF AWARDS AND PARTICIPATION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 <u>General Eligibility</u>. All current and prospective Eligible Individuals are eligible to receive Awards as the Committee determines. No Eligible Individual is entitled to any automatic grant of Awards. In addition to any other terms and conditions in the applicable Award Agreement, the right to vest, exercise and receive Shares, cash, or other property in settlement of, Awards granted to a prospective Eligible Individual are conditioned upon such individual's commencement of service as an Eligible Employee, Consultant, or Non-Employee Director, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 <u>Terms and Conditions of Awards</u>. Each Award will be evidenced by, and subject to, an Award Agreement and will be subject to the terms, conditions, and limitations in this Plan. Awards may be granted alone or in addition to, or in tandem with, other Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 <u>Vesting, Exercisability, and Settlement</u>. The Committee will determine and set forth in the applicable Award Agreement at the time of grant the terms (including performance-vesting terms), conditions, and periods for vesting into, forfeiting, and if applicable, exercise or settlement of, each Award, and the Committee may, but is not required to, provide for an acceleration of vesting and, if applicable, exercisability upon the occurrence of one or more specified events.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 <u>Non-Transferability</u>. Participants may not transfer Awards other than by will or by the laws of descent and distribution, and Awards subject to exercise may not be exercised during the Participant's lifetime other than by the Participant. Notwithstanding the foregoing, the Committee may determine that an Award that is otherwise not transferable pursuant to this Section 5.4 may be transferred to a Family Member of the Participant in whole or in part. An Award that is transferred to a Family Member pursuant to the preceding sentence (a) may not be subsequently transferred other than by will or by the laws of descent and distribution and (b) remains subject to the terms of this Plan and the applicable Award Agreement as if retained by the original grantee. A Participant may not transfer any Shares issued in respect of any Award until such shares vest in accordance with the terms of the applicable Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 <u>No Rights as a Shareholder</u>. No Participant will have any rights as a shareholder in respect of Shares subject to any Award, including, without limitation, the right to receive dividends, the right to vote such Shares, and the right to tender such shares, unless and until the Company issues or delivers such Shares to the Participant and all other terms and conditions hereunder are satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6 <u>Deferral of Awards</u>. The Committee may establish one or more programs under this Plan to permit selected Participants the opportunity to elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other event Award. The Committee may establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or other earnings, if any, on amounts, Shares, or other consideration so deferred, and such other terms, conditions, rules, and procedures that the Committee deems advisable for the administration of any such deferral program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7 <u>Non-Exempt Employees</u>. No Stock Option, whether or not vested, granted to a Participant who is a non-exempt employee for purposes of the Fair Labor Standards Act of 1938, as amended, will be first exercisable for any Shares until at least six months following the date of grant of such Award. Notwithstanding the foregoing, in accordance with the provisions of the Worker Economic Opportunity Act, any vested portion of such Award may be exercised earlier than six months following the date of grant of such Award in the event of (i) such Participant's death or Disability, (ii) a corporate transaction in which such Award is not assumed, continued, or substituted, (iii) a Change in Control, or (iv) such Participant's retirement (as such term may be defined in the Award Agreement or another applicable agreement between the Participant and the Company or one of its Affiliates or, in the absence of any such definition, in accordance with the Company's then-current employment policies and guidelines). This Section 5.7 is intended to operate so that any income derived by a non-exempt employee in connection with the exercise or vesting of a Stock Option will be exempt from his or her regular rate of pay.

ARTICLE VI.

STOCK OPTIONS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 <u>Stock Option Designation</u>. The applicable Award Agreement evidencing a Stock Option must designate such Stock Option as either an Incentive Stock Option or a Non-Qualified Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 <u>Exercise Price</u>. The Committee will determine the exercise price per Share of each Stock Option at the time of grant, and the per-Share exercise price may not be less than 100% (or, in the case of an Incentive Stock Option granted to a Ten-Percent Shareholder, 110%) of the Fair Market Value on the date of grant. Notwithstanding the foregoing, the per-Share exercise price of a Stock Option that is a Substitute Award may be less than the Fair Market Value on the date of grant, provided that such exercise price is determined in a manner consistent with Section 409A, or Section 7(1.4) of the *Income Tax Act* (Canada), as applicable, and, if applicable, Section 424(a) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 <u>Exercise Period</u>. The Committee will determine the length of the exercise period of each Stock Option at the time of grant, and such exercise period may not extend beyond ten years (or, in the case of an Incentive Stock Option granted to a Ten-Percent Shareholder, five years) after the grant date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 <u>Exercisability</u>. Unless otherwise determined by the Committee, if the exercise of a Non-Qualified Stock Option within the permitted time periods is prohibited because such exercise would violate Applicable Law, the Company's insider trading policy (including any blackout periods), or a "lock-up" agreement entered into in connection with the issuance of securities by the Company, then the expiration of exercise period will extend until the date that is 30 calendar days after the end of the period during which such prohibition exists, but in no event beyond the original term of such Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 <u>Method of Exercise</u>. To the extent vested and exercisable and not subject to any prohibition on exercise contemplated by Section 6.4, a Participant may exercise any Stock Option in whole or in part at any time during its term by giving written notice of exercise (which may be electronic) to the Company specifying the number of Shares subject to exercise, together with payment in full of the exercise price (which will equal the product of such number of Shares to be purchased multiplied by the applicable per-Share exercise price). The Participant must deliver such notice and pay the exercise price and applicable tax withholdings per Section 12.4 on such terms and conditions as the Company determines from time to time or as set forth in the applicable Award Agreement. Without limiting the foregoing, the Committee may establish payment terms for the exercise of Stock Options pursuant to which the Company may withhold a number of Shares that would otherwise be issued to the Participant in connection with the exercise of the Stock Option having a Fair Market Value on the date of exercise equal to the exercise price, or that permit the Participant to deliver cash or Shares with a Fair Market Value equal to the exercise price on the date of payment, or through a simultaneous sale through a broker of Shares acquired on exercise, all to the extent permitted by Applicable Law. The Company will not issue any Shares without payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 <u>Termination</u>. Unless the Committee determines otherwise at the time of grant or, if no rights of the Participant are materially impaired, thereafter, and subject to the provisions of the applicable Award Agreement, Stock Options will remain exercisable following a Participant's Termination of Service as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Termination by Death or Disability</u>. If a Participant's Termination of Service is by reason of death or Disability, all Stock Options that are held by such Participant that are vested and exercisable at the time of the Participant's Termination of Service may be exercised by the Participant (or in the case of the Participant's death, by the legal representative of the Participant's estate) at any time within a period of one year from the date of such Termination of Service, but in no event beyond the expiration of the stated term of such Stock Options; <u>provided</u>, <u>however</u>, that in the event of a Participant's Termination of Service by reason of Disability, if the Participant dies within such exercise period, all unexercised Stock Options held by such Participant will thereafter be exercisable, to the same extent to which they were exercisable at the time of death, for a period of one year from the date of such death, but in no event beyond the expiration of the stated term of such Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Involuntary Termination Without Cause</u>. If a Participant's Termination of Service is by involuntary termination by the Company without Cause, all Stock Options that are held by such Participant that are vested and exercisable at the time of the Participant's Termination of Service may be exercised by the Participant at any time within a period of 90 days from the date of such Termination of Service, but in no event beyond the expiration of the stated term of such Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Voluntary Resignation</u>. If a Participant's Termination of Service is voluntary (other than a voluntary termination described in Section 6.6(d)), all Stock Options that are held by such Participant that are vested and exercisable at the time of the Participant's Termination of Service may be exercised by the Participant at any time within a period of 90 days from the date of such Termination of Service, but in no event beyond the expiration of the stated term of such Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Termination for Cause</u>. If a Participant's Termination of Service (i) is for Cause or (ii) is a voluntary Termination of Service (as provided in Section 6.6(c)) after the occurrence of an event that would be grounds for a Termination of Service for Cause, all Stock Options, whether vested or not vested, that are held by such Participant will thereupon immediately terminate and expire as of the date of such Termination of Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Unvested Stock Options.</u> Stock Options that are not vested as of the date of a Participant's Termination of Service for any reason will terminate and expire as of the date of such Termination of Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 <u>Incentive Stock Option Limitations</u>. Notwithstanding anything herein to the contrary, only Eligible Employees who are employees of the Company, its Parents, or its Subsidiaries are eligible to receive Incentive Stock Options. To the extent that the aggregate Fair Market Value (determined as of the time of grant) of the Shares with respect to which Stock Options are exercisable for the first time by an Eligible Employee during any calendar year under this Plan or any other stock option plan of the Company, any Parent, or any Subsidiary exceeds $100,000, such Stock Options will be treated as Non-Qualified Stock Options without regard to whether the Award Agreement designates them as Incentive Stock Options. In addition, if an Eligible Employee does not remain employed by the Company, any Parent, or any Subsidiary at all times from the time a Stock Option is granted until three months prior to the date of exercise thereof (or such other period as required by Applicable Law), such Stock Option will be treated as a Non-Qualified Stock Option without regard to whether the Award Agreement designates it as an Incentive Stock Option. Should any provision of this Plan not be necessary in order for the Stock Options to qualify as Incentive Stock Options, or should any additional provisions be required, the Committee may amend this Plan accordingly without the necessity of obtaining the approval of the shareholders of the Company. To the extent that any Stock Option does not qualify as an Incentive Stock Option (whether because of its provisions or the time or manner of its exercise or otherwise), such Stock Option or the portion thereof that does not so qualify will constitute a separate Non-Qualified Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8 <u>Modification, Extension, and Renewal of Stock Options</u>. The Committee may (i) modify, extend, or renew outstanding Stock Options (provided that the rights of a Participant are not materially impaired without such Participant's consent and provided further that such action does not subject the Stock Options to Section 409A), and (ii) accept the surrender of outstanding Stock Options and authorize the granting of new Stock Options in substitution therefor. Notwithstanding the foregoing, the Committee may not modify any outstanding Stock Option to reduce its exercise price or substitute a surrendered Stock Option with a new Stock Option with a lower exercise price (other than in connection with adjustments or substitutions in accordance with ARTICLE IV), unless such action is approved by the shareholders of the Company or if such outstanding Stock Option is subject to Section 7 of the *Income Tax Act* (Canada), any such exchange of Stock Options is implemented in a manner consistent with Section 7(1.4) of *Income Tax Act* (Canada).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9 <u>Automatic Exercise</u>. The Committee may include a provision in an Award Agreement providing for the automatic exercise of a Non-Qualified Stock Option (other than a Non-Qualified Stock Option that is subject to Section 7 of the *Income Tax Act* (Canada)) on a cashless basis on the last day of the term of such Stock Option, to the extent then exercisable, if the Participant has failed to exercise the Stock Option as of such date, and if the Fair Market Value of the Shares underlying the Stock Option exceeds the exercise price of such Stock Option on the date of expiration, subject to Section 12.4.

ARTICLE VII.

RESTRICTED STOCK UNITS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 <u>Restricted Stock Units</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Settlement</u>. The Committee may provide that settlement of Restricted Stock Units will occur upon or as soon as reasonably practical after the Restricted Stock Units vest or will instead be deferred, on a mandatory basis or at the Participant's election, in a manner intended to comply with Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Dividend Equivalent Rights</u>. If the Committee so provides, a grant of Restricted Stock Units may provide a Participant with Dividend Equivalent Rights. Dividend Equivalent Rights may be paid to the Participant currently or credited to an account for the Participant, settled in cash or Shares, and subject to the same restrictions on transferability and vesting conditions as the Restricted Stock Units to which the Dividend Equivalent Rights relate and subject to other terms and conditions as set forth in the Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Termination</u>. Unless the Committee determines otherwise at the time of grant or, if no rights of the Participant are materially impaired, thereafter, and subject to the provisions of the applicable Award Agreement, all Restricted Stock Units that are not vested as of the Participant's Termination of Service for any reason will be forfeited without payment to the Participant or to any other Person.

ARTICLE VIII.

OTHER STOCK-BASED

The Committee is authorized to cause the Company to grant to Eligible Individuals Other Stock-Based Awards that are payable in, valued in whole or in part by reference to, or otherwise based on or related to Shares, including but not limited to, Shares awarded purely as a bonus and not subject to restrictions or conditions, Shares in payment of the amounts due under an incentive or performance plan sponsored or maintained by the Company, stock equivalent units, and Awards valued by reference to the book value of Shares.

ARTICLE IX.

CHANGE IN CONTROL PROVISIONS

Upon a Change in Control, and except as otherwise provided by the Committee in an Award Agreement or any applicable employment agreement, offer letter, consulting agreement, change in control agreement, or similar agreement in effect between the Company or an Affiliate and the Participant, a Participant's unvested Awards will not vest automatically and will be treated in accordance with one or more of the following methods as determined by the Committee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 <u>Assumption</u>. Awards, whether or not then vested, will be continued, be assumed, or have new rights substituted therefor, in a manner consistent with the requirements of Section 409A or Section 7(1.4) of the *Income Tax Act* (Canada), as applicable, and any applicable vesting or other restrictions will not lapse, upon the Change in Control, and the Award will receive the Change in Control consideration consistent with the other shareholders on such terms as determined by the Committee; provided, that the Committee may decide to award additional Awards in lieu of any cash distribution. Notwithstanding anything to the contrary herein, for purposes of Incentive Stock Options, any assumed or substituted Stock Option must comply with the requirements of Treasury Regulation Section 1.424-1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 <u>Settlement and Cancellation</u>. Awards may be settled by the Company for an amount of cash equal to the excess (if any) of the Change in Control Price of the Shares covered by such Awards over the aggregate exercise price of such Awards (if applicable); provided, however, that if the exercise price of a Stock Option exceeds the Change in Control Price, such Award may be canceled for no consideration; provided, further, that with respect to any Award subject to Section 7 of the *Income Tax Act* (Canada), any settlement of such Award in cash shall require the surrender by of such Award by the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 <u>Termination</u>. The Committee may terminate all outstanding and unexercised Awards subject to exercise, effective as of the closing date of the Change in Control, by delivering notice of termination to each Participant at least 20 days prior to such closing date, in which case during the period from the date on which such notice of termination is delivered to such closing date, each such Participant will have the right to exercise in full all of such Participant's Awards that are then outstanding (without regard to any limitations on exercisability otherwise contained in the Award Agreements), but any such exercise will be contingent on the closing of the Change in Control, and if the Change in Control does not close within a specified period after giving such notice for any reason whatsoever, the notice and exercise pursuant thereto will be null and void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 <u>Vesting Acceleration</u>. Notwithstanding any other provision herein to the contrary, the Committee may, in its sole discretion, provide for accelerated vesting or lapse of restrictions, of an Award at any time.

ARTICLE X.

TERMINATION OR AMENDMENT OF PLAN

Notwithstanding any other provision of this Plan, the Board or the Committee may at any time, and from time to time, amend, in whole or in part, any or all of the provisions of this Plan (including any amendment deemed necessary to ensure that Plan complies with Applicable Law), or suspend or terminate it entirely, retroactively or otherwise; <u>provided</u>, <u>however</u>, that, unless otherwise required by Applicable Law or specifically provided herein, the rights of a Participant with respect to Awards granted prior to such amendment, suspension, or termination may not be materially impaired without the consent of such Participant and, <u>provided</u>, <u>further</u>, that without the approval of the holders of the Shares entitled to vote in accordance with Applicable Law, no amendment may (a) increase the aggregate number of Shares issuable under this Plan (except by operation of Section 4.1); (b) change the classification of individuals eligible to receive Awards; (c) reduce the exercise price of any Stock Option; (d) grant any new Stock Option or other Award subject to exercise in substitution for, or upon the cancellation of, any previously granted Award that has the effect of reducing the exercise price thereof; (e) exchange any Stock Option for Shares, cash, or other consideration when the exercise price per Share under such Stock Option exceeds the Fair Market Value of a Share; or (f) take any action that would be considered a "repricing" of a Stock Option under the applicable listing standards of the national exchange on which the Shares are listed (if any). Notwithstanding anything herein to the contrary, the Board or the Committee may amend this Plan or any Award Agreement at any time without a Participant's consent to comply with Applicable Law. The Committee may amend the terms of any Award theretofore granted, prospectively or retroactively, but, subject to ARTICLE IV or as otherwise specifically provided herein, no such amendment or other action by the Committee may materially impair the rights of any Participant without the Participant's consent.

ARTICLE XI.

UNFUNDED STATUS OF PLAN

This Plan is intended to constitute an "unfunded" plan for incentive and deferred compensation. With respect to any payment as to which a Participant has a fixed and vested interest but that is not yet made to a Participant by the Company, nothing contained herein will give any such Participant any right that is greater than those of a general unsecured creditor of the Company.

ARTICLE XII.

GENERAL PROVISIONS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 <u>Lock-Up; Legend</u>. The Committee may require each person receiving Shares pursuant to an Award to represent to and agree with the Company in writing that the Participant is acquiring the Shares without a view to distribution thereof. The Company may, in connection with registering the offering of any Company securities under the Securities Act, prohibit Participants from directly or indirectly selling or otherwise transferring any Shares or other Company securities during any period determined by the underwriter or the Company. In addition to any legend required by this Plan, the certificates for such Shares may include any legend that the Committee deems appropriate to reflect any restrictions on transfer. All certificates for Shares delivered under this Plan will be subject to such stop-transfer orders and other restrictions as the Committee may deem advisable under Applicable Law, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. If the Shares are held in book-entry form, then the book-entry will indicate any restrictions on such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2 <u>Other Plans</u>. Nothing contained in this Plan prevents the Board from adopting other or additional compensation arrangements, subject to shareholder approval if such approval is required, and such arrangements may be either generally applicable or applicable only in specific cases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3 <u>No Right to Continued Service</u>. Neither this Plan nor the grant of any Award hereunder gives any Participant or other employee, Consultant, or Non-Employee Director any right to continued employment or service with the Company or any Affiliate or limits the Company or any Affiliate in any way to terminate such employment, consultancy, or directorship at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4 <u>Withholding of Taxes</u>. Each Participant is required to pay to the Company or one of its Affiliates, as applicable, or make arrangements satisfactory to the Company regarding the payment of all income tax, social insurance contributions, and other applicable taxes that are required to be paid by the Participant in respect of an Award. The Committee may (but is not obligated to), in its sole discretion, permit or require a Participant to satisfy all or any portion of the applicable taxes that are required to be withheld with respect to an Award by (a) the delivery of Shares (which are not subject to any pledge or other security interest) that have been both held by the Participant and vested for at least six months (or such other period as established from time to time by the Committee in order to avoid adverse accounting treatment under applicable accounting standards) having an aggregate Fair Market Value equal to such withholding liability (or portion thereof), (b) having the Company withhold from the Shares otherwise issuable or deliverable to, or that would otherwise be retained by, the Participant upon the grant, exercise, vesting, or settlement of the Award, as applicable, a number of Shares with an aggregate Fair Market Value equal to the amount of such withholding liability, or (c) by any other means specified in the applicable Award Agreement or otherwise determined by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.5 <u>Fractional Shares</u>. No fractional Shares may be issued or delivered pursuant to this Plan. The Committee will determine whether cash, additional Awards, or other securities or property will be used or paid in lieu of fractional Shares or whether any fractional shares should be rounded, forfeited, or otherwise eliminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.6 <u>No Assignment of Benefits</u>. No Award or other benefit payable under this Plan will, except as otherwise specifically provided in this Plan or under Applicable Law or permitted by the Committee, be transferable in any manner, and any attempt to transfer any such benefit will be void, and no such benefit will in any manner be liable for or subject to the debts, contracts, liabilities, engagements, or torts of any person who is entitled to such benefit, nor will it be subject to attachment or legal process for or against such person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.7 <u>Clawbacks; Detrimental Conduct</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Clawbacks</u>. All Awards, and all payments, benefits, and realizations with respect thereto, will be subject to clawback, cancellation, recoupment, rescission, payback, reduction, or other similar action in accordance with any clawback or similar policy of the Company or any Affiliate or any Applicable Law. A Participant's acceptance of an Award will constitute the Participant's acknowledgement of and consent to the Company's or its Affiliate's application, implementation, and enforcement of any clawback or similar policy of the Company or its Affiliate that may apply to the Participant, whether adopted before or after the Effective Date or the grant date of any Award, and any Applicable Law relating to clawback, cancellation, recoupment, rescission, payback, or reduction of compensation, and the Participant's agreement that the Company may take any actions that may be necessary to effectuate any such policy or Applicable Law, without further consideration or action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Detrimental Conduct</u>. Except as otherwise determined by the Committee, notwithstanding any other term or condition of this Plan, if a Participant engages in Detrimental Conduct, whether during or after the Participant's service, in addition to any other penalties or restrictions that may apply under this Plan, Applicable Law, or otherwise, the Participant must forfeit or pay, or cause any permitted transferees to pay, to the Company the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any and all outstanding Awards granted to the Participant, including Awards that have become vested or exercisable,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any cash or Shares received by the Participant in connection with this Plan within the 36-month period immediately preceding the date on which the Company determines the Participant has engaged in Detrimental Conduct, less any exercise price or purchase price paid therefor, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the profit realized by the Participant from the sale, or other disposition for consideration, of any Shares received by the Participant under this Plan within the 36-month period immediately before the date the Company determines the Participant has engaged in Detrimental Conduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.8 <u>Listing and Other Conditions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Unless otherwise determined by the Committee, as long as the Shares are listed on a national securities exchange or system sponsored by a national securities association, the issuance of Shares pursuant to an Award will be conditioned upon such Shares' being listed on such exchange or system. The Company will have no obligation to issue such Shares unless and until such Shares are so listed, and the right to exercise any Stock Option or other Award with respect to such Shares will be suspended until such listing has been made effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If at any time counsel to the Company advises the Company that any sale or delivery of Shares pursuant to an Award is or may be unlawful or result in the imposition of excise taxes on the Company under Applicable Law, the Company will have no obligation to make such sale or delivery, or to make any application or to effect or to maintain any qualification or registration under the Securities Act or otherwise, with respect to Shares or Awards, and the right to exercise any Stock Option or other Award will be suspended until such sale or delivery is, based on the advice of said counsel, lawful or will not result in the imposition of excise taxes on the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Upon termination of any period of suspension under this Section 12.8, any Award affected by such suspension that has not then yet expired or terminated will be reinstated as to all Shares available before such suspension and as to Shares that would otherwise have become available during the period of such suspension, but no such suspension will extend the term of any Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) A Participant will be required to supply the Company with certificates, representations, and information that the Company requests and otherwise cooperate with the Company in obtaining any listing, registration, qualification, exemption, consent, or approval that the Committee deems necessary or appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.9 <u>Governing Law</u>. This Plan and actions taken in connection herewith are governed by, and should be construed in accordance with, the laws of the Province of British Columbia and the laws of Canada applicable therein, without reference to principles of conflict of laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.10 <u>Construction</u>. Wherever any words are used in this Plan in the masculine gender, they should be construed as though they were also used in the feminine gender in all cases where they would so apply, and wherever words are used herein in the singular form, they should be construed as though they were also used in the plural form in all cases where they would so apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.11 <u>Other Benefits</u>. No Award granted or paid out under this Plan will be deemed compensation for purposes of computing benefits under any retirement plan of the Company or its Affiliates or affect any benefit or compensation under any other plan now or subsequently in effect under which the availability or amount of benefits is related to the level of compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.12 <u>No Right to Same Benefits</u>. The provisions of Awards need not be the same with respect to each Participant, and Awards to individual Participants need not be the same as any previously granted Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.13 <u>Death/Disability</u>. The Committee may in its discretion require the transferee of a Participant to supply it with written notice of the Participant's death or Disability and to supply it with a copy of the will (in the case of the Participant's death) or such other evidence that the Committee deems necessary to establish the validity of the transfer of an Award. The Committee may also require the agreement of the transferee to be bound by all of the terms and conditions of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.14 <u>Section 16(b) of the Exchange Act</u>. The Company intends that this Plan satisfy, and be interpreted in a manner that satisfies, the applicable requirements of Rule 16b-3 so that Participants will be entitled to the benefit of Rule 16b-3, or any other rule promulgated under Section 16 of the Exchange Act, and will not be subject to short-swing liability under Section 16 of the Exchange Act with respect to Awards. Accordingly, if the operation of any provision of this Plan would conflict with the intent expressed in this Section 12.14, such provision should be interpreted or deemed amended so as to avoid such conflict.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.15 <u>Section 409A</u>. This Plan and Awards are intended to comply with or be exempt from the applicable requirements of Section 409A and should be construed and interpreted in accordance with such intent. To the extent that any Award is subject to Section 409A, it will be paid in a manner that will comply with Section 409A. Notwithstanding anything herein to the contrary, any provision in this Plan that is inconsistent with the foregoing intent will be deemed to be amended to comply with or be exempt from Section 409A as determined by the Committee, and to the extent that such provision cannot be amended to comply therewith or be exempt therefrom, such provision will be null and void. The Company will have no liability to a Participant, or any other Person, if an Award that is intended to be exempt from, or compliant with, Section 409A is not so exempt or compliant or for any action taken by the Committee or the Company, and if any amount or benefit under this Plan becomes subject to penalties under or by operation of Section 409A, responsibility for payment of such penalties will rest solely with the affected Participants and not with the Company or any Affiliate. Notwithstanding any contrary provision in this Plan or Award Agreement, any payments in respect of an Award constituting a "deferral of compensation" within the meaning of Section 409A that are otherwise required to be made under this Plan to a "specified employee" (as defined under Section 409A) as a result of such employee's separation from service will be delayed for the first six months following such separation from service (or, if earlier, until the date of death of the specified employee) and will instead be paid (in a manner set forth in the Award Agreement) upon expiration of such delay period without interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.16 <u>Data Privacy</u>. As a condition to receiving any Award, each Participant explicitly and unambiguously consents to the collection, use, and disclosure, in electronic or other form, of personal information as described in this Section 12.16 by and among, as applicable, the Company and its Affiliates, for the exclusive purpose of implementing, administering, and managing this Plan and Awards and the Participant's participation in this Plan. In furtherance of such implementation, administration, and management, the Company and its Affiliates may collect, hold, and use certain personal information about a Participant, including but not limited to the Participant's name, home address, telephone number, date of birth, social security or insurance number or other identification number, salary, nationality, job title(s), information regarding any securities of the Company or any of its Affiliates, and details of all Awards (the "**Data**"). In addition to disclosing the Data amongst themselves as necessary for the purpose of implementation, administration, and management of this Plan and Awards and the Participant's participation in this Plan, the Company and its Affiliates may each disclose the Data to any third parties assisting them in the implementation, administration, and management of this Plan and Awards and the Participant's participation in this Plan. Recipients of the Data may be located in the Participant's country or elsewhere, and the Participant's country and any given recipient's country may have different data privacy laws and protections. By accepting an Award, each Participant authorizes such recipients to receive, possess, use, retain, and disclose the Data, in electronic or other form, for the purposes of assisting the Company in the implementation, administration, and management of this Plan and Awards and the Participant's participation in this Plan, including any requisite disclosure of such Data as may be required to a broker or other third party with whom the Company or the Participant may elect to deposit any shares of Shares. The Data related to a Participant will be held only as long as is necessary to implement, administer, and manage this Plan and Awards and the Participant's participation in this Plan. A Participant may, at any time, view the Data held by the Company with respect to such Participant, request additional information about the storage and processing of the Data with respect to such Participant, recommend any necessary corrections to the Data with respect to the Participant, or refuse or withdraw the consents herein in writing, in any case without cost, by contacting the Participant's local human resources representative. The Committee may cancel the Participant's eligibility to participate in this Plan, and in the Committee's discretion, the Participant may forfeit any or all outstanding Awards if the Participant refuses or withdraws the consents described herein. For more information on the consequences of refusal to consent or withdrawal of consent, Participants may contact their local human resources representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.17 <u>Successor and Assigns</u>. This Plan is binding on all successors and permitted assigns of a Participant, including, without limitation, the estate of such Participant and the executor, administrator, or trustee of such estate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.18 <u>Severability of Provisions</u>. If any provision of this Plan are held invalid or unenforceable, such invalidity or unenforceability will not affect any other provisions hereof, and this Plan should be construed and enforced as if such provisions had not been included.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.19 <u>Headings and Captions</u>. The headings and captions herein are provided for reference and convenience only, should not be considered part of this Plan, and may not be employed in the construction of this Plan.

ARTICLE XIII.

PLAN EFFECTIVENESS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1 <u>Effective Date of Plan</u>. This Plan became effective on March 13, 2026, which is the date of its adoption by the Board, subject to the approval of this Plan by the shareholders of the Company in accordance with the shareholder voting rules applicable to the Company under Applicable Law and its organization documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2 <u>Expiration of Plan</u>. No Award may be granted pursuant to this Plan on or after the tenth anniversary of the earlier of the date on which this Plan was adopted by the Board or the date of shareholder approval, but Awards granted prior to such tenth anniversary may extend beyond that date.

**\* \* \***

## Exhibit 99.1

**Exhibit 99.1**

![](tm2612795d1_ex99-1img001.jpg)

**NervGen Pharma Strengthens Leadership Team with Appointment<br> of Keith Vendola as Chief Financial Officer** 

VANCOUVER, British Columbia – April 27, 2026 – NervGen Pharma Corp. ("NervGen" or the "Company") (NASDAQ: NGEN), a clinical-stage biopharmaceutical company developing first-in-class neuroreparative therapeutics for spinal cord injury (SCI) and other neurotraumatic and neurologic conditions, today announced the appointment of Keith Vendola, MD, MBA, as Chief Financial Officer (CFO), effective immediately. Dr. Vendola will lead the Company's financial strategy and operations, including capital markets activity, financial planning, corporate development and supporting strategic initiatives.

"We are thrilled to welcome Keith, an accomplished leader with deep operational and financial expertise, to NervGen," said Adam Rogers, MD, President and Chief Executive Officer of NervGen. "We are accelerating our clinical development of NVG-291 as we rapidly advance toward initiation of the RESTORE registrational study in chronic tetraplegia. Keith's leadership will be instrumental in supporting this stage of growth and the continued maturation of the Company as we execute on our mission to transform the lives of individuals living with SCI and nervous system damage."

With more than two decades of experience spanning financial and strategic roles at clinical-stage biopharmaceutical companies, healthcare investment banking, corporate strategy, and scientific research, Dr. Vendola brings a distinctive combination of capital markets, operational, and medical expertise to NervGen.

"I'm thrilled to join Adam and the NervGen team at such a pivotal moment for the Company," said Keith Vendola, MD, MBA, CFO of NervGen. "NervGen is pursuing a first-in-class approach to address a profound unmet need, and I look forward to helping advance NVG-291 for the individuals and families living with SCI and other forms of nervous system damage. For these communities, the wait for a therapy capable of addressing the underlying biology and meaningfully improving recovery has been far too long. Being part of the team working to change this treatment paradigm is a privilege, and the reason I joined NervGen."

Dr. Vendola joins NervGen from Wugen, a clinical-stage cell therapy company, where he served as CFO. Prior to Wugen, he was CFO of IO Biotech, leading the company through its IPO. Earlier in his career, he served as CFO and Chief Strategy Officer of Rezolute, where he led the company through financial transformation and its Nasdaq listing, as well as Chief of Staff to the CEO and Vice President of Competitive Strategy and Investor Relations at Coherus BioSciences, where his responsibilities spanned corporate development, strategy, and operations. Dr. Vendola began his corporate finance career as a healthcare investment banker at BofA Securities and JPMorgan Chase.

Dr. Vendola earned his MBA in finance from Northwestern's Kellogg School of Management, MD from Dartmouth Medical School, and BA in psychology, with honors, from the College of the Holy Cross. He completed an executive education program in strategic negotiations at Harvard Business School and was a research fellow at the National Institutes of Health.

**About NervGen Pharma**

NervGen Pharma Corp. (NASDAQ: NGEN) is a clinical-stage biopharmaceutical company developing first-in-class neuroreparative therapeutics for spinal cord injury (SCI) and other neurotraumatic and neurologic conditions. The Company's mission is to transform the lives of individuals living with SCI by enabling the nervous system to repair itself. NervGen's lead therapeutic candidate, NVG-291, is a subcutaneously administered, neuroreparative peptide designed to target the inhibitory CSPG-PTPσ pathway. NVG-291 is the first pharmacologic candidate to improve function, independence, and quality of life in chronic tetraplegia, as demonstrated in the Phase 1b/2a CONNECT SCI study. NVG-291 has received Fast Track designation from the FDA and Orphan Drug designation from the European Medicines Agency for the treatment of SCI. Through NVG-291 and the Company's next-generation candidate, NVG-300, NervGen is pursuing a pharmacologic approach to transform the treatment paradigm for neurotraumatic and neurologic conditions with significant unmet medical need. For more information, visit <u>www.nervgen.com</u> and follow NervGen on <u>X</u> and <u>LinkedIn</u>.

**Contacts**

Huitt Tracey, Investors

<u>htracey@nervgen.com</u>

604.537.2094 David Schull or Ignacio Guerrero-Ros, Ph.D., Media

Russo Partners

<u>David.Schull@russopartnersllc.com</u>

<u>Ignacio.Guerrero-Ros@russopartnersllc.com</u>

858.717.2310 ![](tm2612795d1_ex99-1img001.jpg)

**Cautionary Note Regarding Forward Looking Statements** 

This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking statements"). Such forward-looking statements herein include but are not limited to, the Company's current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements, or any other future events or developments constitute forward-looking statements, and the words "may", "will", "would", "should", "could", "expect", "plan", "intend", "trend", "indication", "anticipate", "believe", "estimate", "predict", "likely" or "potential", or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements. Forward-looking statements include, without limitation, statements relating to: the timing and status of the Company's initiation of the RESTORE registrational study in chronic tetraplegia; the Company's potentially first-in-class candidate, NVG-291; the potential broad therapeutic applications of NVG-291; NVG-291 as potentially the first approved pharmacologic treatment for chronic tetraplegia; and the creation of neuroreparative therapeutics to enable the nervous system to repair itself in settings of neurotrauma and neurologic disease. Forward-looking statements are based on estimates and assumptions made by the Company in light of management's experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. In making forward-looking statements, the Company has relied on various assumptions, including, but not limited to: its ability to obtain future funding on favorable terms, if at all; the accuracy of its financial projections; obtaining positive results in its clinical trials; its ability to obtain necessary regulatory approvals; its ability to arrange for the manufacturing of its product candidates and technologies; and general business, market and economic conditions. Many factors could cause the Company's actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including without limitation, a lack of revenue, insufficient funding, reliance upon key personnel, the uncertainty of the clinical development process, competition, and other factors set forth in the "Risk Factors" section of the Company's most recently filed Annual Information Form, which is available under the Company's profile on SEDAR+ at www.sedarplus.ca (which are also incorporated in the recently filed form 40-F available on the website of the U.S. Securities and Exchange Commission (the "SEC") at www.sec.gov), including the management's discussion & analysis for the year-ended December 31, 2025. All clinical development plans are subject to additional funding. Readers should not place undue reliance on forward-looking statements made in this news release. Furthermore, unless otherwise stated, the forward-looking statements contained in this news release are made as of the date of this news release, and the Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

## Exhibit 99.2

**Exhibit 99.2**

**Form 51-102F3**

**MATERIAL CHANGE REPORT**

### Item 1. **Name and Address of Reporting Issuer** 
NervGen Pharma Corp. ("**NervGen**" or the "**Company**")

112-970 Burrard Street

Unit 1290

Vancouver, BC V6Z 2R4

### Item 2. **Date of Material Changes** 
April 27, 2026

### Item 3. **News Releases** 
A news release announcing the material change was disseminated on April 27, 2026 through GlobeNewswire distribution network, and a copy was filed on NervGen's SEDAR+ profile at www.sedarplus.ca.

### Item 4. **Summary of Material Changes** 
On April 27, 2026, the Company announced the appointment of Keith Vendola, MD, MBA ("**Dr. Vendola**"), as Chief Financial Officer ("**CFO**"), effective immediately.

### Item 5. **Full Description of Material Changes** 
On April 27, 2026, the Company announced the appointment of Dr. Vendola, MD, MBA, as CFO, effective immediately.

Dr. Vendola will lead the Company's financial strategy and operations, including capital markets activity, financial planning, corporate development and supporting strategic initiatives. With more than two decades of experience spanning financial and strategic roles at clinical-stage biopharmaceutical companies, healthcare investment banking, corporate strategy, and scientific research, Dr. Vendola brings a distinctive combination of capital markets, operational, and medical expertise to NervGen.

Dr. Vendola earned his MBA in finance from Northwestern's Kellogg School of Management, MD from Dartmouth Medical School, and BA in psychology, with honors, from the College of the Holy Cross. He completed an executive education program in strategic negotiations at Harvard Business School and was a research fellow at the National Institutes of Health.

Item 6. **Reliance on subsection 7.1(2) of National Instrument 51-102**

Not applicable.

### Item 7. **Omitted Information** 
No information has been omitted on the basis that it is confidential information.

### Item 8. **Executive Officer** 
Adam Rogers, President and Chief Executive Officer

112-970 Burrard Street

Unit 1290

Vancouver, BC V6Z 2R4

### Item 9. **Date of Report** 
April 27, 2026.

## Exhibit 99.3

**Exhibit 99.3** 

**NERVGEN PHARMA CORP.**<br> (the "Company")**

**Report of Voting Results<br> Pursuant to Section 11.3 of National Instrument 51-102 – *Continuous Disclosure Obligations***

 ****

In respect of the annual general meeting of shareholders of the Company held on April 23, 2026 (the "**Meeting**"), the following sets forth a brief description of the matters which were considered and voted upon at the Meeting and the outcome of the vote in respect of each matter. For additional details, please refer to the Company's Management Information Circular dated March 13, 2026 (the "**Circular**") available on the Company's profile on SEDAR+ at <u>www.sedarplus.ca</u>.

The percentage of votes for or withheld, as applicable, from voting are displayed as a percentage of votes cast.

**1.** **Number of Directors** 

By resolution passed by a vote conducted by a show of hands, the number of directors of the Company was set at eight (8). The results of the votes are set forth below.

---

| | | | |
|:---|:---|:---|:---|
| **VOTES FOR** | **VOTES FOR** | **VOTES AGAINST** | **VOTES AGAINST** |
| **Number** | **Percentage (%)** | **Number** | **Percentage (%)** |
| 19463813 | 99.77% | 45004 | 0.23% |

---

**2.** **Election of Directors** 

By resolution passed by a vote conducted by a show of hands, each of the eight (8) nominees as set out in the Circular were elected as directors of the Company to hold office until immediately before the election or appointment of directors at the next annual general meeting of the Company. The results of the votes are set forth below opposite the name of each elected director.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NOMINEE** | **VOTES FOR** | **VOTES FOR** | **VOTES WITHHELD** | **VOTES WITHHELD** |
|  | **Number** | **Percentage (%)** | **Number** | **Percentage (%)** |
| J. Craig Thompson | 19338134 | 99.13% | 170683 | 0.87% |
| Krista L. McKerracher | 16930115 | 86.78% | 2578702 | 13.22% |
| Harold M. Punnett | 19396834 | 99.43% | 111983 | 0.57% |
| Randall E. Kaye | 19271017 | 98.78% | 237800 | 1.22% |
| Brian E. Bayley | 19060424 | 97.70% | 448393 | 2.30% |
| Adam H. Rogers | 19364636 | 99.26% | 144181 | 0.74% |
| Gianni (John) Ruffolo | 19354384 | 99.21% | 154433 | 0.79% |
| Neil A. Klompas | 19356634 | 99.22% | 152183 | 0.78% |

---

**3.** **Appointment of Auditors** 

By resolution passed by a vote conducted by a show of hands, KPMG LLP was re-appointed as the auditor of the Company for the ensuing year and the directors of the Company were authorized to fix the auditor's remuneration. The results of the votes are set forth below.

---

| | | | |
|:---|:---|:---|:---|
| **VOTES FOR** | **VOTES FOR** | **VOTES WITHHELD** | **VOTES WITHHELD** |
| **Number** | **Percentage (%)** | **Number** | **Percentage (%)** |
| 19506267 | 99.99% | 2550 | 0.01% |

---

**4.** **Approval of the Omnibus Equity Incentive Plan** 

By resolution passed by a vote conducted by a show of hands, the adoption of the Company's Omnibus Equity Incentive Plan was approved. The results of the votes are set forth below.

---

| | | | |
|:---|:---|:---|:---|
| **VOTES FOR** | **VOTES FOR** | **VOTES AGAINST** | **VOTES AGAINST** |
| **Number** | **Percentage (%)** | **Number** | **Percentage (%)** |
| 18703254 | 95.87% | 805563 | 4.13% |

---

**5.** **Approval of the Amended and Restated Stock Option Plan** 

By resolution passed by a vote conducted by a show of hands, the amendments to the Company's Amended and Restated Stock Option Plan was approved. The results of the votes are set forth below.

---

| | | | |
|:---|:---|:---|:---|
| **VOTES FOR** | **VOTES FOR** | **VOTES AGAINST** | **VOTES AGAINST** |
| **Number** | **Percentage (%)** | **Number** | **Percentage (%)** |
| 18852601 | 96.64% | 656216 | 3.36% |

---

**6.** **Approval of the Amended Articles of the Company** 

By resolution passed by a vote conducted by a show of hands, the adoption of certain amendments to the Company's Articles were approved. The results of the votes are set forth below.

---

| | | | |
|:---|:---|:---|:---|
| **VOTES FOR** | **VOTES FOR** | **VOTES AGAINST** | **VOTES AGAINST** |
| **Number** | **Percentage (%)** | **Number** | **Percentage (%)** |
| 19208235 | 98.46% | 300582 | 1.54% |

---

**DATED** this 24<sup>th</sup> day of April, 2026.

**Yours truly,**

NervGen Pharma Corp.

*(signed) "Adam Rogers"*

Adam Rogers

President, Chief Executive Officer and interim Chief Financial Officer

## Exhibit 99.4

**Exhibit 99.4**

![](tm2612795d1_ex99-4sp01img1.jpg)

**NOTICE OF MEETING AND**

**MANAGEMENT PROXY CIRCULAR FOR THE<br> ANNUAL GENERAL MEETING OF SHAREHOLDERS**

**TO BE HELD AT 3:00 P.M. (ET) ON<br> THURSDAY, APRIL 23, 2026<br> AT<br> 199 BAY ST. #4000, TORONTO, ON M5L 1A9**

**NERVGEN PHARMA CORP.**

**112-970 Burrard Street, Unit 1290, Vancouver, BC V6Z 2R4**

**NOTICE OF ANNUAL MEETING OF SHAREHOLDERS**

**NOTICE IS HEREBY GIVEN THAT** the annual meeting (the "Meeting") of shareholders of NervGen Pharma Corp. (the "Corporation") will be held at 199 Bay St. #4000, Toronto, ON M5L 1A9, on Thursday, April 23, 2026, at 3:00 p.m. (Eastern time), for the following purposes:

1. to receive the consolidated financial statements of the Corporation for its fiscal year ended December 31, 2025, the report of
the auditor thereon and related management's discussion and analysis;

2. to set the number of directors for the ensuing year at eight (8);

3. to elect the directors of the Corporation for the ensuing year;

4. to appoint the auditor of the Corporation for the ensuing year and to authorize the directors to fix the auditor's remuneration;

5. to consider, and if deemed advisable, to pass, with or without variation, an ordinary resolution of shareholders approving the adoption
of a new omnibus equity incentive plan of the Corporation;

6. to consider, and if deemed advisable, to pass, with or without variation, an ordinary resolution of shareholders approving amendments
to the Stock Option Plan of the Corporation;

7. to consider, and if deemed advisable, to pass, with or without variation, a special resolution to approve and adopt certain amendments
to the Corporation's Articles of Incorporation; and

8. to transact such other business as may properly come before the Meeting or any adjournment thereof.

The specific details of the matters proposed to be put before the Meeting is set forth in the Management Proxy Circular which accompanies this Notice of Meeting.

**DATED** at Vancouver, British Columbia this 13th day of March, 2026.

---

| |
|:---|
| **BY ORDER OF THE BOARD OF DIRECTORS** |
| "Adam Rogers" |
| Adam Rogers |
| Chairperson |

---

**NOTES:**

(1) A Management Proxy Circular and Proxy accompany this Notice of Meeting. Registered shareholders who are
unable to be present at the Meeting are kindly requested to specify on the accompanying form of proxy the manner in which the shares represented
thereby are to be voted, and to sign, date, and return same in accordance with the instructions set out in the Proxy and the Management
Proxy Circular.

(2) As provided in the *Business Corporations Act* (British Columbia) *,* the directors have fixed
a record date of March 13, 2026.<br>
Accordingly, persons who are registered as shareholders on the books of the Corporation at the close of business on March 13, 2026,
are entitled to notice of the Meeting.

(3) If you are a non-registered shareholder and receive these materials through your broker or another intermediary,
please complete and return the materials in accordance with the instructions provided to you by your broker or intermediary.

- ii -

**NERVGEN PHARMA CORP.**

**112-970 Burrard Street, Unit 1290, Vancouver, BC V6Z 2R4**

**MANAGEMENT PROXY CIRCULAR**<br> as at March 13, 2026 *(unless otherwise indicated)*

**This Management Proxy Circular (the "Circular") is furnished in connection with the solicitation of proxies by the management of NervGen Pharma Corp. ("NervGen" or the "Corporation") for use at the annual meeting (the "Meeting") of its shareholders to be held on April 23, 2026 at the time and place and for the purposes set forth in the accompanying Notice of the Meeting.**

**GENERAL PROXY INFORMATION**

**Solicitation of Proxies**

The solicitation of proxies will be primarily by mail, but proxies may be solicited personally or by telephone by directors, officers and regular employees of the Corporation. The Corporation will bear all costs of this solicitation.

**Appointment of Proxyholders**

The individuals named in the accompanying form of proxy (the "Proxy") are officers and/or directors of the Corporation. **If you are a shareholder entitled to vote at the Meeting, you have the right to appoint a person or company other than either of the persons designated in the Proxy, who need not be a shareholder, to attend and act for you and on your behalf at the Meeting. You may do so either by inserting the name of that other person in the blank space provided in the Proxy or by completing and delivering another suitable form of proxy.**

**Voting by Proxyholder**

The persons named in the Proxy will vote or withhold from voting the common shares in the capital of the Corporation ("Common Shares") represented thereby in accordance with your instructions on any ballot that may be called for. If you specify a choice with respect to any matter to be acted upon, your Common Shares will be voted accordingly. The Proxy confers discretionary authority on the persons named therein with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) each matter or group of matters identified therein for which a choice is not specified, other than the
appointment of an auditor and the election of directors,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any amendment to or variation of any matter identified therein, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any other matter that properly comes before the Meeting.

In respect of a matter for which a choice is not specified in the Proxy, the persons named in the Proxy will vote the Common Shares represented by the Proxy for the approval of such matter and for the nominees of management for directors and auditors as identified in the Proxy.

**Registered Shareholders**

If you are a registered shareholder, you may wish to vote by proxy whether or not you attend the Meeting in person. Registered shareholders electing to submit a proxy may do so by:

- A-i -

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) completing, dating and signing the enclosed form of proxy and returning it to the Corporation's
transfer agent, Computershare Investor Services Inc. ("Computershare") (Attention: Proxy Department), 100 University Avenue,
9th Floor, Toronto, Ontario M5J 2Y1 no less than 48 hours (excluding Saturdays, Sundays and holidays) prior to the day of the Meeting
or, by a registered shareholder, with the Secretary or the Chairman of the Meeting at the time and place of the Meeting or any adjournment
thereof. The instrument appointing a proxyholder must be executed by the shareholder or by his or her attorney authorized in writing or,
if the shareholder is a corporate body, by its authorized officer or officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) using a touch-tone phone to transmit voting choices to a toll-free number. Registered shareholders must
follow the instructions of the voice response system and refer to the enclosed proxy form for the toll-free number, the holder's
account number and the proxy access number; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) logging on to the internet through Computershare's
 website at <u>www.investorvote.com</u>. Registered shareholders must follow the instructions
 that appear on the screen and refer to the enclosed proxy form for the holder's account
 number and the proxy access number.

**Non-Registered (or Beneficial) Shareholders**

There are two kinds of beneficial shareholders: Objecting Beneficial Owners ("OBOs") object to their name being made known to the issuers of securities which they own; and Non-Objecting Beneficial Owners ("NOBOs") who do not object to the issuers of the securities they own knowing who they are.

**The following information is of significant importance to shareholders who do not hold Common Shares in their own name.** Beneficial shareholders should note that the only proxies that can be recognized and acted upon at the Meeting are those deposited by registered shareholders (those whose names appear on the records of the Corporation as the registered holders of Common Shares) and NOBOs, or as set out in the following disclosure.

If Common Shares are listed in an account statement provided to a shareholder by a broker, then in almost all cases those Common Shares will not be registered in the shareholder's name on the records of the Corporation. Such Common Shares will more likely be registered under the names of intermediaries, which include banks, trust companies, securities dealers or brokers and trustees or administrators of self-administered RRSPs, RRIFs, RESPs and similar plans.

Intermediaries are required to seek voting instructions from beneficial shareholders in advance of meetings of shareholders. Every intermediary has its own mailing procedures and provides its own return instructions to clients.

**Voting for Beneficial Shareholders**

The Corporation is taking advantage of the provisions of National Instrument 54-101 "*Communication with Beneficial Owners of Securities of a Reporting Issuer"* that permit the Corporation to deliver proxy-related materials directly to its NOBOs. Please see the above headings "*Registered Shareholders"* and *"Non- Registered (or Beneficial) Shareholders*".

These securityholder materials are being sent to both registered and non-registered owners of the securities. If you are a non-registered shareholder and receive these materials through your broker or another intermediary, please complete and return the materials in accordance with the instructions provided to you by your broker or intermediary. By choosing to send these materials to you directly, the issuer (and not the intermediary holding on your behalf) has assumed responsibility for (i) delivering these materials to you, and (ii) executing your proper voting instructions. Please return your voting instructions as specified in the request for voting instructions.

- A-ii -

Beneficial shareholders who are OBOs do not appear on the list of shareholders of the Corporation maintained by the transfer agent. The Corporation will not pay for intermediaries to forward the proxy related materials for the Meeting to OBOs. Accordingly, any OBOs should note that they will not receive copies of these proxy related materials unless the intermediary for each OBO assumes the delivery costs related in any such delivery. **OBOs should follow the instructions of their intermediary carefully to ensure that their Common Shares are voted at the Meeting.**

**Notice to Shareholders in the United States**

The solicitation of proxies involves securities of an issuer located in Canada and is being effected in accordance with the corporate laws of Canada and securities laws of the Provinces of Canada. The proxy solicitation rules under the United States *Securities Exchange Act of 1934*, as amended, are not applicable to the Corporation or this solicitation, and this solicitation has been prepared in accordance with the disclosure requirements of the securities laws of the Provinces of Canada. Shareholders should be aware that disclosure requirements under the securities laws of the Provinces of Canada differ from the disclosure requirements under United States securities laws.

The enforcement by shareholders of civil liabilities under United States federal securities laws may be affected adversely by the fact that the Corporation is incorporated under the *Business Corporations Act* (British Columbia) certain of its directors and its executive officers are residents of Canada and a substantial portion of its assets and the assets of such persons are located outside the United States. Shareholders may not be able to sue a foreign company or its officers or directors in a foreign court for violations of United States federal securities laws. It may be difficult to compel a foreign company and its officers and directors to subject themselves to a judgment by a United States court.

**Revocation of Proxies**

In addition to revocation in any other manner permitted by law, a registered shareholder who has given a proxy may revoke it by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) executing a proxy bearing a later date or by executing a valid notice of revocation, either of the foregoing
to be executed by the registered shareholder or the registered shareholder's authorized attorney in writing, or, if the shareholder
is a corporation, under its corporate seal by an officer or attorney duly authorized, and by delivering the proxy bearing a later date
to Computershare (see "*Registered Shareholders*" above), or at the address of the registered office of the Corporation
at 1133 Melville Street, Suite 3500, The Stack, Vancouver, BC V6E 4E5, at any time up to and including the last business day that
precedes the day of the Meeting or, if the Meeting is adjourned, the last business day that precedes any reconvening thereof, or to the
chairman of the Meeting on the day of the Meeting or any reconvening thereof, or in any other manner provided by law; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) personally attending the Meeting and voting the registered shareholder's
Common Shares.

A revocation of a proxy will not affect a matter on which a vote is taken before the revocation.

- A-iii -

**INTEREST OF CERTAIN PERSONS OR COMPANIES IN MATTERS TO BE ACTED UPON**

Other than as set out herein, no director or executive officer of the Corporation, or any person who has held such a position since the beginning of the last completed financial year of the Corporation to the date of this Circular, nor any nominee for election as a director of the Corporation, nor any associate or affiliate of the foregoing persons, has any substantial or material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any matter to be acted on at the Meeting other than the election of directors and as set out herein.

**VOTING SECURITIES AND PRINCIPAL HOLDERS OF VOTING SECURITIES**

The board of directors (the "Board") of the Corporation has fixed March 13, 2026 as the record date (the "Record Date") for determination of persons entitled to receive notice of the Meeting. Only shareholders of record at the close of business on the Record Date who either attend the Meeting personally or complete, sign and deliver a form of proxy in the manner and subject to the provisions described above will be entitled to vote or to have their Common Shares voted at the Meeting.

The Common Shares of the Corporation are listed for trading on the Nasdaq Capital Market ("Nasdaq"). As of March 13, 2026, there were 80,630,871 Common Shares issued and outstanding, each carrying the right to one vote.

To the knowledge of the directors and executive officers of the Corporation, no person or corporation beneficially owns, directly or indirectly, or exercises control or direction over, more than 10% of the issued and outstanding common shares of the Corporation, except as detailed below.

---

| | | |
|:---|:---|:---|
| **Name** | **Number of Common Shares** | **Percentage of Common Shares** |
| PFP Biosciences Holdings LLC | 14,708,673 Common Shares | 18.2 |

---

**PARTICULARS OF MATTERS TO BE ACTED UPON**

**Presentation of Financial Statements**

The annual financial statements of the Corporation for the year ended December 31, 2025 together with the auditor's report thereon and the related management discussion and analysis in respect of the foregoing financial statements, all of which may be obtained from SEDAR+ at <u>www.sedarplus.ca</u>, will be presented at the Meeting.

**Number of Directors**

The Articles of the Corporation (the "Articles") set out that the number of directors of the Corporation will be a minimum of three and a maximum of the most recently set of (i) the number of directors set by ordinary resolution (whether or not previous notice of the resolution was given) and (ii) the number of directors set in the event that the places of any retiring directors are not filled by an election at a meeting of shareholders. At the Meeting, the shareholders will be asked to pass an ordinary resolution setting the number of directors of the Corporation at eight (8).

**THE BOARD OF DIRECTORS RECOMMENDS THAT SHAREHOLDERS VOTE IN FAVOUR OF THE SETTING OF THE NUMBER OF DIRECTORS OF THE CORPORATION AT EIGHT (8) FOR THE ENSUING YEAR.**

- A-iv -

**The voting rights pertaining to Common Shares represented by duly executed proxies in favour of the persons named in the accompanying form of proxy will be exercised, in the absence of specifications to the contrary, FOR the setting of the number of directors of the Corporation at eight (8) for the ensuing year.**

**Election of Directors**

The Corporation has nominated eight (8) persons for election as directors of the Corporation at the Meeting. At the Meeting, shareholders will be asked to elect the nominees outlined herein as directors of the Corporation. All nominees are current directors of the Corporation. Unless they resign, all directors elected at the Meeting will hold office until our next annual meeting of shareholders or until their successors are elected or appointed**.**

The following table sets out the names of management's eight (8) nominees for election as directors to the Board, each nominee's principal occupation, business or employment, the period of time during which each has been a director of the Corporation and the number of Common Shares of the Corporation beneficially owned by each, directly or indirectly, or over which each exercised control or direction, as at March 13, 2026.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Name of Director, <br> Province/State and Country<br> of Residence** | &nbsp;&nbsp;**Present Principal Occupation, Business or <br> Employment** | &nbsp;&nbsp;**Director Since** | &nbsp;&nbsp;**Common Shares** |
| &nbsp;&nbsp;**J. Craig Thompson<sup>2, 3, 5</sup>** California, USA | &nbsp;&nbsp;Lead Independent Director of NervGen Pharma Corp. from March 13, 2026; Chief Executive Officer ("CEO"), Cerevance since April 2022; President and CEO, Neurana Pharmaceuticals from June 2018 to April 2022; President and CEO, Anthera Pharmaceuticals from January 2016 to June 2018. | &nbsp;&nbsp;April 2022 | &nbsp;&nbsp;- |
| &nbsp;&nbsp;**Krista L. McKerracher<sup>2, 3, 4</sup>** Florida, USA | &nbsp;&nbsp;Founder, FIG Advisory LLC from September 2017 to present; VP, Head of Hemoglobinopathy Programs at CRISPR Therapeutics from November 2017 to October 2019; Vice President & Global Program Franchise Head, Novartis Oncology from February 2008 to July 2017. | &nbsp;&nbsp;September 2021 | &nbsp;&nbsp;42758 |
| &nbsp;&nbsp;**Harold M. Punnett<sup>1, 4</sup>** British Columbia, Canada | &nbsp;&nbsp;Retired since March, 2024. Previously self- employed dentist as sole owner of Dr. Harold Punnett, Inc. | &nbsp;&nbsp;January 2017 | &nbsp;&nbsp;1175532 |
| &nbsp;&nbsp;**Randall E. Kaye<sup>4</sup>** <br> New York, USA | &nbsp;&nbsp;Consultant: Hanson Drug Company LLC. Chief Medical Officer of Longboard Pharmaceuticals from March 2022 to January 2025; Chief Medical Officer of Neurana Pharmaceutical from September 2019 to March 2022; Chief Medical Officer of Click Therapeutics from September 2018 to September 2019. | &nbsp;&nbsp;October 2020 | &nbsp;&nbsp;160000 |
| &nbsp;&nbsp;**Brian E. Bayley<sup>1, 3 ,5</sup>** British Columbia, Canada | &nbsp;&nbsp;President of Earlston Management Corp., a private management company; and Executive Chairman of Earlston Investments Corp. | &nbsp;&nbsp;May 2018 | &nbsp;&nbsp;565000 |
| &nbsp;&nbsp;**Adam H. Rogers<sup>4</sup>** <br> Florida, USA | &nbsp;&nbsp;Interim CFO of NervGen Pharma Corp. from March 2026; President and CEO, NervGen Pharma Corp. from February 2026; Principal of PFP Biosciences Holdings from 2022; Interim President of NervGen from September 2022 to April 2023; Founder (2010) and CEO of Hemera Biosciences from November 2017; Assistant Professor of Ophthalmology of New England Eye Center from 2000 to 2020. | &nbsp;&nbsp;July 2022 | &nbsp;&nbsp;14708673<sup>6</sup> |

---

- A-v -

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Name of Director,** <br> **Province/State and Country <br> of Residence** | &nbsp;&nbsp;**Present Principal Occupation, Business or <br> Employment** | &nbsp;&nbsp;**Director Since** | &nbsp;&nbsp;**Common Shares** |
| &nbsp;&nbsp;**Gianni (John) Ruffolo<sup>2, 5</sup>** Ontario, Canada | &nbsp;&nbsp;Founder & Managing Partner of Maverix Private Equity from January 2019; Chief Executive Officer of OMERS Ventures from January 2011 to December 2018. | &nbsp;&nbsp;October 2023 | &nbsp;&nbsp;70407 |
| &nbsp;&nbsp;**Neil A. Klompas<sup>1, 5</sup>** British Columbia, Canada | &nbsp;&nbsp;President and CEO of Augurex Life Sciences Corp. since August 2024; President and Chief Operating Officer of Zymeworks since 2022 and Chief Financial Officer of Zymeworks from 2007 to 2022. | &nbsp;&nbsp;July 2024 | &nbsp;&nbsp;- |

---

**Notes:**

(1) Member of the Corporation's Audit Committee.

(2) Member of the Corporation's Compensation Committee.

(3) Member of the Corporation's Nominating and Corporate Governance Committee.

(4) Member of the Corporation's Science Committee.

(5) Member of the Corporation's Corporate Finance Committee.

(6) Includes 10,000,000 Common Shares held by PFP Biosciences Holdings LLC for which Dr. Rogers serves
as Managing Member, 3,831,530 Common Shares held by The Paul & Phyllis Fireman Charitable Foundation, which is associated with
PFP Biosciences Holdings LLC, 857,143 shares held by Paul Fireman 2006 Revocable Trust, which is affiliated with PFP Biosciences Holdings
LLC, and 20,000 Common Shares personally owned.

**Director Biographies**

**J. Craig Thompson** – Mr. Thompson currently serves as CEO and member of the Board for Cerevance. Prior to Cerevance, Mr. Thompson was at Neurana Pharmaceuticals as President & CEO and as a member of the board of directors. Prior to Neurana, Mr. Thompson was President & CEO of Anthera Pharmaceuticals, Inc. His previous biotech experience includes Chief Operating Officer for Tetraphase Pharmaceuticals, Inc. and Chief Commercial Officer for Trius Therapeutics, Inc. where he was involved in the $700M+ acquisition of Trius Therapeutics, Inc. by Cubist Pharmaceuticals, Inc., as well as a partnership with Bayer Pharma AG. Prior to Trius Therapeutics Inc., Mr. Thompson served in various global and U.S. roles at Pfizer Inc., including Therapeutic Group Leader of Allergy, Respiratory, Pulmonary Vascular Disease and Inflammation; and ultimately served as Vice President of Marketing for Pfizer's Specialty Care Business Unit. Previous to Pfizer Inc., Mr. Thompson served in positions of increasing responsibility at Merck & Co., Inc., including the European partnership with Schering Plough.

Mr. Thompson holds a Bachelor's of Commerce degree from McMaster University and an MBA from the University of Notre Dame.

**Krista L. McKerracher** – Ms. McKerracher is a biopharmaceutical leader, Board member, and strategic advisor with over 40 years' experience in both large global pharmaceutical and small biotech companies. Her last corporate role was VP, Head of Hemoglobinopathy Programs at CRISPR Therapeutics where she and her team took the first CRISPR gene-edited product into the clinic. Prior to CRISPR Therapeutics she was VP & Global Program Franchise Head at Novartis where she led a global cross-functional development team. She also held series of commercial roles over 14 years at the Johnson & Johnson family of companies. Ms. McKerracher is currently Founder of FIG Advisory LLC focused on advising early stage companies on strategy and business development. Additionally, she is Board Chair of Genialis, a private precision oncology company and serves on Advisory Boards to Cureleads and BioAxone Biosciences and is a mentor at Springboard, an incubator for female led healthcare and technology companies.

- A-vi -

Ms. McKerracher holds a BSc in Applied Health Studies from the University of Waterloo and an MBA from the Schulich School of Business at York University.

**Harold M. Punnett** – Dr. Punnett is a retired member of the Canadian Dental Association, College of Dental Surgeons of British Columbia, and the British Columbia Dental Association. Dr. Punnett is an experienced angel investor and has previously acted as a director of two public issuers. A co-founder and current Board member of NervGen, he has a passion for helping those with spinal cord injuries and nerve related challenges.

Dr. Punnett holds a Doctor of Dental Medicine degree from the University of British Columbia.

**Randall E. Kaye** – Dr. Kaye is a physician-executive with more than three decades of leadership experience in neuroscience and rare disease drug development across public and private biopharmaceutical companies. He currently advises biotechnology companies on clinical development strategy, regulatory positioning, and corporate growth initiatives. Most recently, Dr. Kaye served as Chief Medical Officer of Longboard Pharmaceuticals, where he led the clinical development and regulatory strategy for the company's CNS portfolio, including programs targeting rare developmental and epileptic encephalopathies. He played a central leadership role in advancing the company's pipeline and contributed to the successful US$2.6 billion acquisition of Longboard by Lundbeck A/S. Previously, Dr. Kaye served as Chief Medical Officer at Neurana Pharmaceuticals, Click Therapeutics, Axsome Therapeutics, and Avanir Pharmaceuticals, leading clinical development programs across multiple neuroscience indications, including epilepsy, mood disorders, ALS, and other central nervous system conditions. Earlier in his career, he held senior clinical leadership roles at Scios Inc., InterMune, and Pfizer Inc., contributing to global development programs and regulatory submissions.

Dr. Kaye earned his M.D., M.P.H., and B.S. degrees from George Washington University and completed a Research Fellowship at Harvard Medical School.

**Brian E. Bayley** – Mr. Bayley serves as the President and Executive Chairman of Earlston Management Corp. (a private management company) and Executive Chairman of Earlston Investments Corp. (a private merchant bank). Previously, Mr. Bayley was a director and Resource Lending Advisor for Sprott Resource Lending Corp. (formerly Quest Capital Corp.), a Toronto Stock Exchange and NYSE American listed resource lending corporation. He has held active senior management positions in both private and public natural resource companies and has over 40 years of public issuer experience, both as an officer and a director.

Mr. Bayley holds an MBA from Queen's University. He is also a director and officer of several other public companies.

**Adam H. Rogers** – Dr. Rogers most recently served as interim CEO of NervGen before being appointed the Corporation's President, CEO and interim CFO. He previously held the role of interim President of NervGen, providing leadership during a key period of organizational transition. Dr. Rogers is a Principal of Boston-based PFP Biosciences Holdings and is a board-certified ophthalmologist specializing in diseases and surgery of the retina and vitreous. He co-founded Hemera Biosciences, a clinical-stage gene therapy company focused on treating dry age-related macular degeneration, later assuming the role of CEO and overseeing all aspects of the company until its assets were acquired by Janssen Pharmaceuticals, a subsidiary of Johnson & Johnson. Earlier in his career, Dr. Rogers served as an Assistant Professor of Ophthalmology at the New England Eye Center of Tufts Medical Center in Boston. Dr. Rogers has published 29 articles in peer-reviewed journals and co-authored two textbooks, as well as numerous chapters in major ophthalmic texts. He serves on the board of One Family Inc., an organization dedicated to ending homelessness in Massachusetts, and is a member of the Emory University Board of Trustees.

- A-vii -

Dr. Rogers holds an MD from Emory College and Emory University School of Medicine.

**Gianni (John) Ruffolo** – Mr. Ruffolo is the Founder and Managing Partner of Maverix Private Equity, a private equity firm focused on innovation-enabled growth and disruption investment strategies. Mr. Ruffolo chairs the Investment Committee, guides the strategy of the firm, is deeply involved with fundraising and sourcing and leading investment opportunities, particularly within the technology and life sciences industries. Mr. Ruffolo is also the Founder of OMERS Ventures and Co-Founder and Vice Chair of the Council of Canadian Innovators. Before joining OMERS, in addition to being a Partner at Deloitte, Mr. Ruffolo was their Global Thought Leader, Global Tax Leader, and Canadian Industry Leader for their Technology, Media, and Telecommunications (TMT) practice, and a member of the Board of Directors. Mr. Ruffolo serves as a board member across both profit and non-profit sectors, collaborating with organizations including Kepler Communications, Raptor Maps, Viral Nation, CIBC Foundation, Rick Hansen Foundation, Toronto International Film Festival (TIFF), and Schulich School of Business Dean's Global Council.

Mr. Ruffolo holds a BBA, Accounting degree from York University. He is a Fellow of the Chartered Professional Accountants of Ontario.

**Neil A. Klompas -** Mr. Klompas, is an experienced life sciences and healthcare sector executive and board member. He is currently the President and Chief Executive Officer, and a member of the Board of Directors, of Augurex Life Sciences Corp. Prior to Augurex, he served as Chief Financial Officer, and later President and Chief Operating Officer of Zymeworks Inc. During his time with the company, he oversaw finance and operations, including leading the execution the company's initial public offering on the NYSE and TSX. Prior to Zymeworks, Mr. Klompas worked with KPMG LLP as part of the Pharmaceutical, Biotech & Medical Devices M&A Transaction Services practice in Princeton, NJ, and with KPMG LLP in the life sciences assurance practice based in Vancouver. Mr. Klompas serves on the Board of Directors of HTuO Biosciences and InMed Pharmaceuticals, and has previously served as Board Chair for Ovensa Inc., and as the Chair of the Audit Committee and Special Committee of Liminal Biosciences Inc. until its acquisition in 2023.

Mr. Klompas holds a BSc in Microbiology & Immunology from the University of British Columbia and is a Chartered Professional Accountant.

**Cease Trade Orders, Bankruptcies, Penalties or Sanctions**

To the knowledge of the Corporation, none of the proposed Directors is, or has been, as at the date of this Circular or within the ten (10) years prior to the date of this Circular, a director, CEO or chief financial officer ("CFO") of any corporation (including the Corporation) that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) was subject to a cease trade order, an order similar to a cease trade order, or an order that denied the
relevant Corporation access to any exemption under applicable securities legislation, that was in effect for a period of more than thirty
(30) consecutive days (an "Order"), that was issued while the Director or Executive Officer was acting in the capacity as
Director, CEO or CFO; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) was subject to an Order that was issued after the Director or Executive Officer ceased to be a director,
CEO or CFO and which resulted from an event that occurred while that person was acting in the capacity as director, CEO or CFO.

- A-viii -

To the knowledge of the Corporation, none of the proposed Directors of the Corporation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is, or has been, as at the date of this Circular or within the ten (10) years prior to the date of
this Circular, a director or executive officer of any corporation (including the Corporation) that, while that person was acting in that
capacity, or within one (1) year of that person ceasing to act in that capacity, became bankrupt, made a proposal under any legislation
relating to bankruptcy or insolvency or was subject to or instituted any proceedings, arrangement or compromise with creditors or had
a receiver, receiver manager or trustee appointed to hold its assets; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) has, within the ten (10) years prior to the date of this Circular, become bankrupt, made a proposal
under any legislation relating to bankruptcy or insolvency, or become subject to or instituted any proceedings, arrangement or compromise
with creditors, or had a receiver, receiver manager or trustee appointed to hold the assets of the proposed director.

To the knowledge of the Corporation, no proposed director has been subject to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any penalties or sanctions imposed by a court relating to securities legislation or by a securities regulatory
authority or has entered into a settlement agreement with a securities regulatory authority; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any other penalties or sanctions imposed by a court or regulatory body that would likely be considered
important to a reasonable security holder in deciding whether to vote for a proposed director.

**THE BOARD OF DIRECTORS RECOMMENDS THAT SHAREHOLDERS VOTE IN FAVOUR OF THE ELECTION OF THE PROPOSED NOMINEES AS DIRECTORS OF THE CORPORATION FOR THE ENSUING YEAR.**

**The voting rights pertaining to Common Shares represented by duly executed proxies in favour of the** **persons named in the accompanying form of proxy will be exercised, in the absence of specifications to the contrary, FOR the election of the proposed nominees as Directors of the Corporation for the ensuing year.**

**APPOINTMENT AND REMUNERATION OF THE AUDITOR**

At the Meeting, shareholders will be asked to appoint the firm of KPMG LLP ("KPMG") to hold office as the Corporation's auditors until the close of the next annual meeting of shareholders and to authorize the Board to fix their remuneration. The auditors will hold office until the next annual meeting of shareholders or until their successors are appointed. KPMG has been acting as auditors for the Corporation since November 2022.

**THE BOARD OF DIRECTORS RECOMMENDS THAT SHAREHOLDERS VOTE IN FAVOUR OF THE APPOINTMENT OF KPMG LLP AS AUDITORS FOR THE CORPORATION AND TO AUTHORIZE THE BOARD TO DETERMINE THEIR REMUNERATION.**

**The voting rights pertaining to Common Shares represented by duly executed proxies in favour of the persons named in the accompanying form of proxy will be exercised, in the absence of specifications to the contrary, FOR the appointment of KPMG as auditors for the Corporation and to authorize the Board to determine their remuneration.**

- A-ix -

**APPROVAL OF OMNIBUS EQUITY INCENTIVE PLAN**

At the Meeting, shareholders will be asked to vote for the confirmation and approval of the NervGen Pharma Corp. 2026 Equity Incentive Plan (the "**Omnibus Plan**"). A simple majority of affirmative votes cast at the Meeting of shareholders of the Corporation is required to pass the resolution described herein.

On March 13, 2026, the Board unanimously approved and adopted the Omnibus Plan, subject to the approval of the Corporation's shareholders. The purpose of the Omnibus Plan is to promote the success of the Corporation's business for the benefit of its shareholders by aligning employee and shareholder interests through the grant of equity-based incentives to offer eligible employees, non-employee directors, and consultants in order to attract, retain, and reward such individuals and strengthen the alignment of interests between such individuals and the Corporation's shareholders. The Board believes that the Omnibus Plan will attract, motivate, and retain key talent and encourage stock ownership, thereby aligning the long-term interests of the Omnibus Plan participants with those of the Corporation's shareholders.

The Corporation currently maintains its Stock Option Plan. If the Omnibus Plan is approved by shareholders, no further grants will be made under the Stock Option Plan, though existing grants under the Stock Option Plan will continue in effect in accordance with their terms.

**Material Terms of the Omnibus Equity Incentive Plan**

A summary of certain provisions of the Omnibus Plan is set out below. The summary is qualified in its entirety by the full text of the Omnibus Plan set out in Appendix "A" hereto. Capitalized terms used in this section and not otherwise defined have the meaning ascribed to them in the Omnibus Plan.

***Types of Awards***

The Omnibus Plan provides for the grant of equity awards in the form of Incentive Stock Options, Non-Qualified Stock Options, Restricted Stock Units, Dividend Equivalent Rights, and Other Stock-Based Awards (each an "Award" and collectively, the "Awards"). Subject to the terms of the Omnibus Plan and applicable law, the specific terms and conditions applicable to each Award will be provided in the Award agreement between the Corporation and the participant (the "Award Agreement").

***Plan Administration***

The Board will administer the Omnibus Plan, except to the extent that the Board duly authorizes any committee of the Board to administer the Omnibus Plan (as applicable, the "Committee"); provided that the Committee may delegate any or all of its powers and duties under the Omnibus Plan to a subcommittee of directors or to any officer of the Corporation, subject to any applicable laws and regulations. Unless otherwise limited by the Omnibus Plan or applicable law, the Committee has authority to administer the Omnibus Plan and interpret its provisions and the provisions of any Award Agreements or sub-plans relating thereto. This discretion includes, but is not limited to, the authority to (i) determine whether and to what extent Awards will be granted to Eligible Individuals, (ii) determine the number of Shares to be covered by each Award and the terms and conditions of each Award, (iii) determine whether, to what extent, and under what circumstances an Award may be settled in cash or Shares, or a combination of both, (iv) modify, waive, amend, or adjust the terms and conditions of any Award, (v) determine whether to require a participant, as a condition of the granting of any Award, to not sell or dispose of Shares acquired pursuant to the exercise, vesting, or settlement of an Award for a specified period of time following the date of the acquisition of such Award or Shares, (vi) adopt, alter, and repeal administrative rules, guidelines, and practices governing the Omnibus Plan, and (vii) adopt special rules, sub-plans, guidelines, and provisions for persons who are residing in or employed in, or subject to, the laws of any domestic or foreign jurisdictions to satisfy or accommodate such laws or to qualify for preferred tax treatment thereunder.

- A-x -

The Board may abolish any Committee or re-vest in itself any previously delegated authority from time to time and will retain the right to exercise the authority of the Committee to the extent consistent with applicable law.

***Shares Available for Awards***

The maximum number of Shares available for issuance under the Omnibus Plan is 3,000,000. On January 1 of each calendar year from 2027 through 2036, the number of Shares that the Corporation may issue or deliver pursuant to the Omnibus Plan will increase by the lesser of (a) 5% of the aggregate number of Shares and prefunded warrants to purchase Shares outstanding on December 31 of the immediately preceding calendar year and (b) such smaller number of Shares determined by the Board. In addition, Shares subject to an Award or an award under the Stock Option Plan will, in either case, be made available for issuance or delivery under the Omnibus Plan if they are (i) delivered, withheld, or surrendered in payment of the exercise price or tax obligations in respect of such award or (ii) subject to an award that expires or is canceled, forfeited, or terminated without issuance of the full number of Shares to which such award related. As of the date hereof, the Corporation has 80,630,871 Shares issued and outstanding, and 9,209,291 Shares issuable pursuant to Options granted under the existing Stock Option Plan (equal to approximately 11% of the issued and outstanding Shares of the Corporation). Currently, there are unallocated entitlements under the existing Stock Option Plan to purchase 1,927,238 Shares (equal to approximately 2% of the issued and outstanding Shares of the Corporation).

The Omnibus Plan imposes certain limitations on the number of Awards that can be granted to any one person. In any calendar year during any part of which the Omnibus Plan is in effect, no non-employee director may receive Awards for service on the Board that, taken together with any cash fees paid to such non-employee director during such calendar year for such individual's service on the Board, have a value in excess of US$750,000 (or US$1,000,000 in a non-employee director's first year of service (calculating the value of any such Awards based on the grant date fair value of such Awards for financial reporting purposes)); provided, that additional compensation may be provided in excess of such limit for any calendar year in which such non-employee director serves on a special committee or as lead director or non-executive chair of the Board and that the foregoing limitation will apply without regard to Awards or other compensation, if any, provided to a non-employee director during any period in which such individual was an employee or other service provider other than a non-employee director of the Corporation or any of its affiliates.

***Insider Participation***

The Omnibus Plan does not include limitations on insider participation.

***Eligible Participants***

Any non-employee director, employee, or consultant of the Corporation, its subsidiaries, or any of its affiliates will be eligible to participate in the Omnibus Plan, subject to approval by the Committee.

- A-xi -

***Description of Awards***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* *Options* 

The Committee will be permitted to grant Stock Options under the Omnibus Plan. The exercise price per share and terms of each Stock Option will be determined by the Committee, provided, however, that the exercise price will not be less than the Fair Market Value of a Share on the date that the Stock Option is granted (or, in the case of an Incentive Stock Option granted to a Ten-Percent Stockholder, 110% of the Fair Market Value). A Stock Option will be exercisable only in accordance with the terms and conditions established by the Committee in the applicable Award Agreement. The Committee may, in its discretion, provide that a Stock Option may become vested and exercisable in whole or in part, in installments, cumulative or otherwise, for any period of time specified by the Committee and reflected in an Award Agreement. The Committee will fix the term of each Stock Option, not to exceed ten years (or, in the case of an Incentive Stock Option granted to a Ten-Percent Stockholder, five years) after the grant date.

If so provided in the applicable Award Agreement by the Committee, Stock Options may be exercised in whole or in part at any time during the Stock Option term, to the extent vested and exercisable, by giving written notice of exercise to the Corporation specifying the number of Shares to be purchased, and having the Corporation withhold Shares issuable upon exercise of such Stock Option as payment in full or in part, for the exercise price of such Stock Options. The number of Shares to be withheld as payment will be determined based on the Fair Market Value of the Shares on the exercise date, as determined by the Committee. The Committee can, in its discretion, approve, or an Award Agreement may otherwise provide for, other methods of paying the exercise price under Stock Options, including through broker-assisted exercises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* *Restricted Stock Units* 

The Committee will be permitted to grant awards of Restricted Stock Units under the Omnibus Plan. Shares underlying the Restricted Stock Units will be subject to any restrictions that the Committee may impose. If the Committee so provides in an Award Agreement or otherwise, a grant of Restricted Stock Units may provide Dividend Equivalent Rights, which may be paid to the Award holder currently or credited to an account for the Award holder, settled in cash or Shares, and subject to the same restrictions on transferability and forfeitability as the Restricted Stock Units to which the Dividend Equivalent Rights relate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* *Other Stock-Based Awards* 

The Committee is authorized to grant to participants other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Shares, including but not limited to, Shares awarded purely as a bonus and not subject to restrictions or conditions, Shares in payment of amounts due under an incentive or performance plan sponsored or maintained by the Corporation, stock equivalent units, and Awards valued by reference to the value of Shares. The Committee will determine the terms and conditions of such Other Stock-Based Awards.

***Tax Withholdings***

Each participant is required to pay to the Corporation or one of its affiliates, as applicable, or make arrangements for the payment of all income tax, social insurance contributions, and other applicable taxes required to be paid by the participant in respect of an Award. The Committee may, in its sole discretion or otherwise as specified in an Award Agreement, permit or require a participant to satisfy such tax obligations by (a) the delivery of Shares (which are not subject to any pledge or other security interest) that have been both held by the participant and vested for at least six months (or such other period as established by the Committee in order to avoid adverse accounting treatment under applicable accounting standards) having an aggregate Fair Market Value equal to such withholding liability (or portion thereof), (b) having the Corporation withhold from the Shares otherwise issuable or deliverable to, or that would otherwise be retained by, the participant upon the grant, exercise, vesting, or settlement of the Award, as applicable, a number of Shares with an aggregate Fair Market Value equal to the amount of such withholding liability, or (c) by any other means specified in the applicable Award Agreement or otherwise determined by the Committee, including, but not limited to, broker-assisted exercises.

- A-xii -

***Effect of Termination of Service on Awards***

The Committee may provide, by rule or regulation or in any Award Agreement, the circumstances in which Awards shall be exercised, vested, paid, or forfeited if a participant ceases to provide service to the Corporation or any affiliate prior to the vesting, exercise, or settlement of such Award. Unless otherwise provided by the Committee pursuant to the foregoing, the Omnibus Plan provides for the following treatment of Awards upon a termination of service:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* *Options* 

Upon a participant's termination of service with the Corporation or any of its affiliates, any unvested Stock Options will immediately terminate. Upon a participant's termination of service with the Corporation or any of its affiliates (i) due to death or disability, any vested Stock Options held by the participant may be exercised within one year from the date of such termination, (ii) by the Corporation without cause or voluntarily by the participant, any vested Stock Options held by the participant may be exercised within 90 days following the date of such termination, or (iii) by the Corporation for cause, all Stock Options held by the participant (whether vested or unvested) will immediately terminate as of the date of such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* *Restricted Stock Units* 

The Committee may accelerate the vesting of all or any part of any Award of Restricted Stock Units and/or waive the deferral limitations for all or any part of any Award of Restricted Stock Units. Unless otherwise provided in the applicable Award agreement or determined by the Committee at the time of grant, upon a participant's termination of service with the Corporation or any of its affiliates for any reason, all unvested Restricted Stock Units will be forfeited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* *Other Stock-Based Awards* 

The specific terms and conditions upon termination of service applicable to any Other Stock-Based Award will be provided for under the applicable Award Agreements.

***Change in Control***

Unless otherwise provided in an Award Agreement, in the event of a Change in Control, a participant's unvested Awards will be treated in accordance with one of the following methods as determined by the Committee: (a) Awards, whether or not vested, will be continued or assumed or have new rights substituted for them as determined by the Committee consistent with any applicable law, (b) the Committee, in its sole discretion, may provide for the purchase of any Awards by the Corporation or an affiliate for an amount of cash equal to the excess of the change in control price of the shares covered by such Awards, over the aggregate exercise price (if any) of such Awards, (c) the Committee, in its sole discretion, may terminate all outstanding and unexercised stock-based Awards that provide for participant-elected exercise, effective as of the date of such change in control, by delivering notice to each participant at least 20 days prior to the date of the consummation of such change in control, with such participant having the right to exercise in full all of such participant's then outstanding Awards prior to and contingent upon the occurrence of such change in control, or (d) the Committee may provide for accelerated vesting of Awards.

***Assignability/Transferability***

Awards granted under the Omnibus Plan may not be sold, pledged, or otherwise transferred, other than following the death of a participant by will or the laws of descent. A participant's beneficiary or estate may exercise vested stock options during the applicable exercise period following the death of the participant, subject to the same conditions that would have applied to exercise by the participant.

- A-xiii -

***Clawback Provisions***

All awards, amounts, or benefits received or outstanding under the Omnibus will be subject to clawback, cancellation, recoupment, rescission, payback, reduction, or other similar action in accordance with any Corporation clawback or similar policy or any applicable law related to such actions. In addition, if any participant engages in Detrimental Conduct, whether during or after the participant's service with the Corporation and its affiliates, the participant must forfeit or pay to the Corporation all then-outstanding Awards then held by him, all cash or Shares received by him in connection with the Omnibus Plan within 36 months preceding the date on which the Corporation determined that the participant engaged in Detrimental Conduct, and all profit realized by him from the sale or other disposition of any Shares received under the Omnibus Plan within 36 months preceding the date on which the Corporation determined that the participant engaged in Detrimental Conduct.

***Amendment***

The Board or the Committee may at any time, and from time to time, amend, in whole or in part, any or all provisions of the Omnibus Plan, or suspend or terminate the Omnibus Plan in its entirety, retroactively or otherwise without shareholder approval; provided, that unless otherwise required by applicable law, the rights of a participant may not be impaired without the consent of such participant; and provided, further, that shareholder approval will be required for any amendment that would:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) increase the Share Reserve (other than the annual increases provided for under the terms of the Omnibus
Plan as described herein above in the section titled, "*Shares Available for Awards* "),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) change the classification of individuals eligible to receive Awards under the Plan,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) reduce the exercise price of any Stock Option,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) grant a new Stock Option or other Award subject to exercise in substitution for, or upon the cancellation
of, any previously granted Award that has the effect of reducing the exercise price thereof,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) exchange any Stock Option for Shares, cash, or other consideration when the exercise price per share under
such Stock Option exceeds the fair market value of a Share, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) take any other action that would be considered a "repricing" of a Stock Option under the applicable
listing standards of the national exchange on which the Shares are listed (if any).

Notwithstanding anything in the Omnibus Plan to the contrary, the Board or the Committee may amend the Omnibus Plan or any Award Agreement at any time without a participant's consent to comply with applicable law.

- A-xiv -

**Omnibus Plan Resolution**

At the Meeting, shareholders will be asked to consider and, if thought appropriate, to approve, with or without variation, an ordinary resolution ratifying and approving the Omnibus Plan (the "Omnibus Plan Resolution"). Should the Omnibus Plan Resolution not receive the required shareholder approval at the Meeting, the Omnibus Plan will not be adopted, and the existing Stock Option Plan (or the Amended and Restated Option Plan (as defined herein), if adopted) will remain in place. The text of the resolution is set out below:

**RESOLVED AS AN ORDINARY RESOLUTION THAT:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Omnibus Plan of NervGen Pharma Corp. (the "Corporation"), in substantially the form described
in, and appended as, Appendix "A" to the management information circular of the Corporation dated March 13, 2026, be
and the same is hereby ratified, confirmed, and approved.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Any director or officer of the Corporation is hereby authorized and directed, for and on behalf of the
Corporation, to do all things and execute, deliver, and file all such agreements, documents, and instruments, and do all such other acts
and things that may be necessary or desirable to give effect to the foregoing resolutions.

**THE BOARD OF DIRECTORS RECOMMENDS THAT SHAREHOLDERS VOTE IN FAVOUR OF APPROVING THE OMNIBUS PLAN.**

**Unless you have specified in the enclosed form of proxy that the votes attaching to the Common Shares represented by the proxy are to be voted against the Omnibus Plan Resolution, the management representatives designated in the enclosed form of proxy intend to vote the Common Shares in respect of which they are appointed proxy FOR the Omnibus Plan Resolution. Approval of the foregoing resolution will require the affirmative vote of a majority of votes cast by holders of Common Shares present in person or represented by proxy at the Meeting.**

**APPROVAL OF STOCK OPTION PLAN AMENDMENT**

The Corporation's stock option plan (the "Stock Option Plan"), in its current form, was last approved by Shareholders on May 6, 2025. For a summary of the terms of the Stock Option Plan, see "*Material Terms of Stock Option Plan*" below.

At the Meeting, shareholders will be asked to vote for the confirmation and approval of the amendment and restatement to the Corporation's existing Stock Option Plan to make the changes summarized under the heading "Option Plan Amendments" below (the "Option Plan Amendments"). In particular, the Corporation proposes to update the Stock Option Plan with the addition of "net exercise" and cashless exercise features. For reference, a blackline copy of the amended and restated stock option plan (the "Amended and Restated Option Plan") reflecting the Option Plan Amendments as described below is attached to this Circular as Appendix "B". In order for the resolution described herein to pass, a simple majority of affirmative votes cast at the Meeting of shareholders of the Corporation is required.

The Corporation is separately proposing for shareholder approval of a new Omnibus Plan. If the Omnibus Plan is approved by shareholders, no further grants will be made under the Stock Option Plan, as may be amended pursuant to the Option Plan Amendments, though existing grants under the Stock Option Plan will continue in effect in accordance with their terms.

- A-xv -

**Option Plan Amendments**

The principal changes between the Stock Option Plan and the Amended and Restated Option Plan are the addition of the "net exercise" and cashless exercise options.

Subject to the provisions of the Stock Option Plan, an optionee may elect to exercise a vested option by either (a) a "net exercise" procedure in which the Corporation issues to the optionee the number of Common Shares (rounded down to the nearest whole number) equal to the number determined by dividing (i) the product of the number of options being exercised multiplied by the difference between (A) the Fair Market Value (as defined in the Amended and Restated Option Plan) of the underlying Common Shares and (B) the exercise price of the subject Options plus, if agreed, an amount equal to all applicable withholding taxes and other deductions payable in respect of the subject Options as determined by the Corporation by (ii) the Fair Market Value of the underlying Common Shares; or (b) a broker assisted "cashless exercise" in which the Corporation delivers irrevocable instructions to a broker engaged by the Corporation to sell the Common Shares, on behalf of the optionee, and to deliver to the Corporation an amount equal to the exercise price and all applicable required withholding obligations as determined by the Corporation against delivery of the Common Shares to settle the applicable trade, with any excess cash amount related to such sale being payable to the optionee.

The Corporation is also proposing certain amendments to the Stock Option Plan to permit greater flexibility regarding the termination and vesting provisions applicable to outstanding Options as a result of the Corporation's recent de-listing from the TSX Venture Exchange (the "**TSX-V**").

The foregoing information is intended to be a brief description of the changes between the Stock Option Plan and the Amended and Restated Option Plan and is qualified in its entirety by the full text of the Amended and Restated Option Plan, a blackline copy of which is attached as Appendix "B" of this Circular.

***Stock Option Plan Resolution***

At the Meeting, shareholders will be asked to consider and, if thought appropriate, to approve, with or without variation, an ordinary resolution ratifying and approving the Amended and Restated Option Plan (the "Option Plan Resolution"). Should the Option Plan Resolution not receive the required shareholder approval at the Meeting, the Amended and Restated Option Plan will not be adopted, and the existing Stock Option Plan will remain in place. The text of the resolution is set out below:

**RESOLVED AS AN ORDINARY RESOLUTION THAT:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The amended and restated option plan (the "Amended and Restated Option Plan") of NervGen Pharma
Corp. (the "Corporation") in substantially the form described in, and blackline copy of which is attached as Appendix "B"
to, the management information circular of the Corporation dated March 13, 2026, be and the same is hereby ratified, confirmed and
approved.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Any director or officer of the Corporation is hereby authorized and directed, for and on behalf of the
Corporation, to do all things and execute, deliver and file all such agreements, documents and instruments, and do all such other acts
and things that may be necessary or desirable to give effect to the foregoing resolutions.

**THE BOARD OF DIRECTORS RECOMMENDS THAT SHAREHOLDERS VOTE IN FAVOUR OF APPROVING THE AMENDED AND RESTATED OPTION PLAN.**

- A-xvi -

If the Amended and Restated Option Plan is not approved, the existing Stock Option Plan will continue in effect unamended.

**Unless you have specified in the enclosed form of proxy that the votes attaching to the Common Shares represented by the proxy are to be voted against the Option Plan Resolution, the management representatives designated in the enclosed form of proxy intend to vote the Common Shares in respect of which they are appointed proxy FOR the Option Plan Resolution. Approval of the foregoing resolution will require the affirmative vote of a majority of the votes cast by holders of Common Shares present in person or represented by proxy at the Meeting.**

**APPROVAL OF AMENDMENT TO ARTICLES**

At the Meeting, shareholders will be asked to approve an amendment to the Corporation's Articles in accordance with the BCBCA (the "**Amended Articles**"). The special resolution approving the Amended Articles must be passed by not less than 66⅔% of the votes cast by shareholders who are entitled to vote and are present in person or represented by proxy at the Meeting. The below is only a summary of the proposed amendment and shareholders should refer to the full text of the amendment to the Articles attached as Appendix "E" to this Circular.

The Corporation currently qualifies as a Foreign Private Issuer ("**FPI**") under the Exchange Act and is entitled to rely on certain corporate governance exemptions under Nasdaq rules. The Corporation expects to lose its FPI status as of January 2027, and as such, is seeking shareholder approval to amend its Articles to increase the Quorum Requirement in order to comply with Nasdaq rules. The amendments are intended to align the Corporation's Articles with such requirements.

**Amendment to Quorum Requirement**

The Board proposes to amend the Articles to change the quorum requirements to transact business at a meeting of shareholders (the "**Quorum Requirement**"). The current Articles define the quorum necessary for the transaction of business at a meeting of shareholders as two shareholders present in person or represented by proxy holding or representing at least 5% of the outstanding Common Shares of the Corporation. The Amended Articles provide that at a meeting of shareholders, the quorum will be two persons who are, or who represent by proxy, shareholders who, in the aggregate, hold at least 33<sup>1</sup>/<sub>3</sub>% of the issued Common Shares entitled to be voted at the meeting.

***Shareholder Approval of Amendment to Articles***

At the Meeting, shareholders will be asked to consider and, if thought advisable, approve a special resolution (requiring the approval by not less than 66⅔% of the votes cast in person or represented by proxy at the Meeting) authorizing and approving the Corporation's adoption of the amendment to the Articles (the "**Articles Amendment Resolution**"). The text of the Articles Amendment Resolution is set out below.

**RESOLVED AS A SPECIAL RESOLUTION THAT:**

1. The Articles of NervGen Pharma Corp. (the "Corporation") be amended, substantially in the
form appended as Appendix E to the management information circular of the Corporation dated March 13, 2026, by amending Article 11.3
thereto, which modifies the quorum requirements to transact business at a meeting of shareholders.

2. Any director or officer of the Corporation is hereby authorized and directed, for and on behalf of the
Corporation, to do all things and execute, deliver and file all such agreements, documents and instruments, and do all such other acts
and things that may be necessary or desirable to give effect to the foregoing resolutions.

- A-xvii -

**THE BOARD OF DIRECTORS RECOMMENDS THAT SHAREHOLDERS VOTE IN FAVOUR OF APPROVING THE AMENDMENT TO THE ARTICLES OF INCORPORATION.**

**Unless you have specified in the enclosed form of proxy that the votes attaching to the Common Shares represented by the proxy are to be voted against the Articles Amendment Resolution, the management representatives designated in the enclosed form of proxy intend to vote the Common Shares in respect of which they are appointed proxy FOR the Articles Amendment Resolution. Approval of the foregoing resolution will require the affirmative vote of not less than 66<sup>2</sup>/<sub>3</sub>% of votes cast by holders of Common Shares present in person or represented by proxy at the Meeting.**

**EXECUTIVE COMPENSATION**

**Director and Named Executive Officer Compensation**

As used herein, "NEO" or "Named Executive Officer" means each of the following individuals:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the CEO of NervGen;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the CFO of NervGen;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) each of the three most highly compensated executive officers of the Corporation, including any of its
subsidiaries, or the three most highly compensated individuals acting in a similar capacity, other than the CEO and CFO, at the end of
the most recently completed financial year whose total compensation was, individually, more than $150,000, for that financial year; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) each individual who would be an NEO under paragraph (c) but for the fact that the individual was
neither an executive officer of the Corporation or its subsidiaries, nor acting in a similar capacity, at the end of that financial year.

***Compensation Discussion and Analysis***

The Board is responsible for implementing and overseeing the human resources and compensation philosophy of the Corporation upon the recommendation of the Compensation Committee and making recommendations with respect to the compensation of the NEOs and directors of the Corporation. The Board determines director and NEO compensation annually at a meeting of the directors.

***Members of the Compensation Committee***

Ms. Krista McKerracher, Mr. John Ruffolo and Mr. Craig Thompson are members of the Compensation Committee and are each considered independent. The profiles for each committee member set out in the section titled "*Director Biographies*" of this Circular describe each member's relevant knowledge and experience to serve on the Compensation Committee.

***Objectives of the Compensation Program***

The compensation program adopted by the Corporation was designed to attract and retain qualified and experienced executives who will contribute to the success of the Corporation. The executive compensation program attempts to ensure that the compensation of the Corporation's executive officers provides a competitive base compensation package and a bonus plan with a strong link to corporate performance objectives. Executive officers will be motivated through the program to enhance long-term shareholder value.

- A-xviii -

***Elements of Compensation***

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Compensation Element** | &nbsp;&nbsp;**Link to Compensation<br> Objectives** | &nbsp;&nbsp;**Link to Corporate Objectives** |
| &nbsp;&nbsp;Base Salary or Consulting Fees | &nbsp;&nbsp;Attract and retain | &nbsp;&nbsp;Competitive pay ensures access to skilled employees and consultants necessary to achieve corporate objectives. |
| &nbsp;&nbsp;Bonus | &nbsp;&nbsp;Attract and retain | &nbsp;&nbsp;Bonus plans serve to focus employees' efforts on key objectives, increase employee motivation by establishing a clear link between pay and performance and support stakeholder ideals by allowing employees to share in the success of the business. |
| &nbsp;&nbsp;Options | &nbsp;&nbsp;Motivate and reward, align interests with shareholders | &nbsp;&nbsp; Long-term incentives motivate and reward employees and consultants to increase shareholder value by the achievement of long-term corporate strategies and objectives. |

---

As the Corporation is in the development stage, it cannot staff every function that would be in place in a more mature, profitable corporation. Nevertheless, the Corporation also requires access to a similar range of expertise and hands-on capabilities. Therefore, the Corporation makes use of consultants, typically on a part-time basis. All consultants must enter into a confidential disclosure agreement with the Corporation. The specific terms of each consulting engagement differ as to the consultant's time commitment to the Corporation and the compensation rate paid to the consultant. Industry consultant compensation norms, consultant capabilities, and the Corporation's needs are the key factors when determining appropriate consultant compensation.

The Corporation provides executive officers with base salaries providing their minimum compensation for services rendered during a financial year. NEOs' base compensation depends on the scope of their experience, responsibilities, performance, length of service, general industry trends and practices, competitiveness, and the Corporation's existing financial resources. Base salaries are reviewed annually by the Board.

The Corporation provides its executive officers and employees, with a performance bonus which all or a portion is based on the attainment of the Corporation's goals ("Corporate Goals") as determined annually by the Board. As of December 31, 2025, the potential annual bonuses available to NEOs were: Adam Rogers, (CEO) 0%, and William Adams (Former CFO) 40%**.** Achievement of the Corporate Goals comprised the entirety of both Adam Rogers' (Current CEO) and Michael Kelly's (Former CEO) annual performance bonus award opportunity. For all other executive officers, 75% of their performance bonus award opportunity is comprised by the achievement of Corporate Goals. The relative weighting of Corporate Goals in determining performance bonuses is reviewed annually and adjusted as necessary or appropriate.

In February 2025, the Board of Directors approved the Corporate Goals for our 2025 performance-based cash bonuses. The Corporate Goals were based on the achievement of clinical, preclinical, and regulatory objectives, including delivering Phase 1b/2a topline data for the chronic cohort, the achievement of enrollment objectives in the subacute cohort of the Phase 1b/2a study, advancement of certain non-clinical initiatives for NVG-291, achievement of key milestones with the U.S. Food and Drug Administration regarding regulatory pathways of approval of NVG-291, the adequate supply of drug product for both clinical and non-clinical initiatives, and obtaining adequate financing to fund operations through 2026. As of March 13, 2026, our Compensation Committee and the Board have not evaluated the accomplishment and performance of the Corporation relative to these 2025 Corporate Goals. Therefore, performance bonuses have not been awarded for the year ended December 31, 2025.

- A-xix -

The grant of Options pursuant to the Stock Option Plan has been an integral component of the compensation arrangements of the executive officers of the Corporation, and the Corporation expects this to continue. The Board believes that the grant of stock options to executive officers and Common Share ownership by such officers motivates such officers to strive towards achievement of the Corporation's long-term strategic objectives, which will benefit all shareholders. Options will be awarded based on determinations by the Board. Decisions with respect to Option grants will be based upon the individual's level of responsibility and their contribution towards the Corporation's goals and objectives and may be awarded in recognition of the achievement of a particular goal or extraordinary service. The Board will consider the overall number of Options that are outstanding relative to the number of outstanding Common Shares in determining whether to make any new grants of Options and the size of such grants.

To assist the Compensation Committee and the Board in setting competitive and appropriate compensation for the Corporation's NEOs, the Committee and Board considers market data from a defined peer group of similar sized companies that compete within the similar clinical-stage biotechnology industry as the Corporation. Comparable companies include but were not limited to Amylyx Pharmaceuticals (NASDAQ: AMLX), Cassava Sciences (NASDAQ: SAVA), Lexeo Therapeutics (NASDAQ: LXEO), and Stoke Therapeutics. (NASDAQ: STOK). The Committee does not rely solely on peer data to set pay; discretion is exercised to reflect the Corporation's performance, scope, and individual contributions, as well as considering general industry trends and practices.

***Risk Assessment***

In carrying out its mandate, the Board from time to time reviews the risk implications of the Corporation's compensation policies and practices, including those applicable to the NEOs. This review of the risk implications ensures that the compensation plans, in their design, structure and application have a clear link between pay and performance and do not encourage excessive risk taking. Key considerations regarding risk management include the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) design of a compensation program to ensure all executives are compensated equally based on the same or,
depending on the mandate and term of appointment of a particular executive, substantially equivalent performance goals;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a balance of short-term performance incentives with equity-based awards that vest over time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) ensuring that the overall expense to the Corporation of the compensation program does not represent a
disproportionate percentage of the Corporation's annual budget or financial resources, after giving consideration to the development
stage of the Corporation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) utilizing compensation policies that do not rely solely on the accomplishment of specific tasks without
consideration to longer-term risks and objectives.

- A-xx -

***Hedging Policy***

NEOs or directors are not permitted to purchase financial instruments that are designed to hedge or offset a decrease in market value of equity securities granted as compensation or held, directly or indirectly, by NEOs or directors, including, for greater certainty, prepaid variable forward contracts, equity swaps, collars, or units of exchange funds.

***Performance Graph***

The following graph compares the Total Cumulative Shareholder (TSR) return for C$100 invested in the Common Shares since the Corporation was listed and initiated trading on the TSX-V with the cumulative total return of the Toronto Stock Exchange's S&P/TSX Venture Health Care Index (including the reinvestment of dividends). The Corporation's Common Shares commenced trading on the TSX-V on March 15, 2019, and began trading on the Nasdaq on January 8, 2026. The Corporation's Common Shares ceased trading on the TSX-V on March 16, 2026.

![](tm2612795d1_ex99-4sp01img2.jpg)

*As an early -stage clinical development company, the Corporation's TSR may not directly reflect operational progress or underlying asset value during certain periods. Executive compensation is therefore structured to reward achievement of key scientific, regulatory, and strategic milestones that are fundamental to long-term value creation. TSR remains an important reference point, but not the sole determinant of compensation outcomes.*

***Named Executive Officers and Director Compensation***

The following table sets forth all compensation received by individuals who served as a Named Executive Officer or a director of the Corporation for the financial years ended December 31, 2025, 2024 and 2023. Adam Rogers, Current President, CEO and interim CFO, Michael Kelly, Former President and CEO, William J. Adams, Former CFO and Secretary, and Daniel D. Mikol, former Chief Medical Officer (the "CMO") are each a NEO of the Corporation for purposes of the following disclosure. Other than as set out below, the directors of the Corporation were not compensated in cash for services rendered in the financial periods ending December 31, 2025, 2024 and 2023.

- A-xxi -

***Summary Compensation Table***

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name and Principal Position** | **Year** | **Salary, <br> consulting <br> fee, retainer <br> or <br> commission <br> ($)** | **Share-<br> Based<br> Awards<br> ($)** | **Option-<br> Based<br> Awards <br> ($)** | **Non-Equity <br> Incentive <br> Plan <br> Compensation <br> ($)** | **Pension<br> Value ($)** | **Value of all<br> other<br> compensation** <br> **($)** | **Total <br> compensation <br> ($)** |
| Adam Rogers, Current Chair, President, CEO and Interim CFO<sup>1,9</sup> | 2025 |  |  | 181000 |  | **-** |  | 181000 |
| Adam Rogers, Current Chair, President, CEO and Interim CFO<sup>1,9</sup> | 2024 |  |  | 82500 |  |  |  | 82500 |
| Adam Rogers, Current Chair, President, CEO and Interim CFO<sup>1,9</sup> | 2023 |  |  | 157223 |  |  |  | 157223 |
| Michael Kelly Former President, CEO & Director<sup>1, 2</sup> | 2025 | 448775<sup>7</sup> |  | 1014888 |  |  | 2039041,<sup>8</sup> | 1667567 |
| Michael Kelly Former President, CEO & Director<sup>1, 2</sup> | 2024 | 781169<sup>7</sup> |  | 1803536 | 329220<sup>67</sup> |  | 1050<sup>8</sup> | 2914975 |
| Michael Kelly Former President, CEO & Director<sup>1, 2</sup> | 2023 | 540060<sup>7</sup> |  | 5971960 | 199223<sup>57</sup> |  | 1047<sup>8</sup> | 6712290 |
| William J. Adams Former Chief Financial Officer<sup>9</sup> | 2025 | 690467 |  | 507200 |  |  |  | 1197247 |
| William J. Adams Former Chief Financial Officer<sup>9</sup> | 2024 | 382774 |  | 274400 | 100909<sup>6</sup> |  |  | 758083 |
| William J. Adams Former Chief Financial Officer<sup>9</sup> | 2023 | 335767 |  | 151146 | 95867<sup>4</sup> |  |  | 582780 |
| Dr. Daniel D. Mikol Former Chief Medical Officer<sup>3</sup> | 2025 | 338109<sup>7</sup> |  | 235200 |  |  |  | 573309 |
| Dr. Daniel D. Mikol Former Chief Medical Officer<sup>3</sup> | 2024 | 620348<sup>7</sup> |  | 274400 | 147552<sup>67</sup> |  |  | 1042300 |
| Dr. Daniel D. Mikol Former Chief Medical Officer<sup>3</sup> | 2023 | 588533<sup>7</sup> |  | 151146 | 205453<sup>47</sup> |  |  | 945132 |
| William J. Radvak, Former Chairperson, Director & Interim CEO<sup>1, 2</sup> | 2025 |  |  |  |  |  |  |  |
| William J. Radvak, Former Chairperson, Director & Interim CEO<sup>1, 2</sup> | 2024 |  |  |  |  |  |  |  |
| William J. Radvak, Former Chairperson, Director & Interim CEO<sup>1, 2</sup> | 2023 | 60000 |  | 174100 |  |  |  | 234100 |

---

**Notes:**

(1) Dr. Rogers was appointed interim CEO on July 17, 2025 and appointed President and CEO on February 9,
2026. Mr. Kelly was appointed CEO and Board member on April 10, 2023, and stepped down from his roles as CEO and Board member
on July 17, 2025, and as a result was paid $202,785 in lieu of notice required under his Employment Agreement. Mr. Radvak stepped
down as Interim CEO on April 10, 2023.

(2) None of the compensation paid to Messrs. Kelly or Radvak was paid to them in their capacity as director.

(3) Dr. Mikol stepped down from his role as CMO on July 1, 2025.

(4) Amounts accrued but not paid at December 31, 2023. Payment was made on March 15, 2024.

(5) Amounts accrued but not paid at December 31, 2023. Payment was made on April 15, 2024.

(6) Amounts accrued but not paid at December 31, 2024. Payment was made on March 15, 2025.

(7) These amounts were incurred in US dollars and converted at the rate of exchange effective on the transaction
dates. The average exchange rates were US$1.00 = C$1.3978 for fiscal 2025, US$1.00 = C$1.3698 for fiscal 2024, and US$1.00 = C$1.3493
for fiscal 2023.

(8) Represents 401(k) matching benefits.

(9) Mr. Adams retired as CFO of the Corporation effective March 15, 2026. Dr. Rogers was appointed
interim CFO on the same date.

- A-xxii -

***Director Compensation Table***

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Director Name** | **Fees Earned <br> ($)** | **Share-<br> Based<br> Awards<br> ($)** | **Option- <br> Based <br> Awards <br> ($)** | **Non-Equity <br> Incentive Plan <br> Compensation <br> ($)** | **Pension<br> Value<br> ($)** | **All Other<br> Compensation<br> ($)** | **Total<br> ($)** |
| Harold Punnett | – |  | 181000 | – |  |  | 181000 |
| Brian Bayley | – |  | 181000 | – |  |  | 181000 |
| Neil Klompas | – |  | 217200 | – |  |  | 217200 |
| Krista McKerracher | – |  | 217200 | – |  |  | 217200 |
| John Ruffolo | – |  | 181000 | – |  |  | 181000 |
| Craig Thompson | – |  | 217200 | – |  |  | 217200 |
| Randall Kaye<sup>1</sup> | – |  | 873200 | – |  | 320067 | 1193267 |
| Glenn A. Ives | – |  | 217200 | – |  |  | 217200 |

---

**Notes:**

(1) Dr. Randall Kaye and the Corporation entered into a consulting
agreement on July 1, 2025, appointing Dr. Kaye as Chief Medical Advisor. In connection with the consulting agreement, the Corporation
awarded Dr. Kaye 200,000 options. Additionally, the Corporation paid Dr. Kaye $320,067 in connection with the consulting services
rendered during the year ended December 31, 2025.

***Stock Options and Other Compensation Securities***

The following table sets forth Options pursuant to the Stock Option Plan and other compensation securities, granted or issued to each director and Named Executive Officer, by the Corporation for the year ended December 31, 2025, for services provided or to be provided, directly or indirectly, to the Corporation.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Compensation Securities** | **Compensation Securities** | **Compensation Securities** | **Compensation Securities** | **Compensation Securities** | **Compensation Securities** | **Compensation Securities** |
| **Name and <br> position<sup>3</sup>** | **Type of <br> compensation <br> security** | **Date of issue<br> or grant** | **Issue<br> conversion<br> or exercise <br> price ($)**<sup>4</sup> | **Closing <br> price of <br> security or <br> underlying <br> security on <br> date of <br> grant <br> ($)** | **Closing<br> price of <br> security or<br> underlying<br> security at<br> year end <br> ($)** | **Expiry date** |
| Adam Rogers, Current Chair, President, CEO & Interim CFO | Options50000<sup>2</sup> | May 16, 2025 | 4.00 | 4.68 | 6.91 | May 16, 2030 |
| Michael Kelly Former President, CEO & Director | Options345200 <sup>1</sup> | February 18, 2025 | 2.97 | 2.97 | 6.91 | February 18, 2035 |
| William J. Adams Former CFO | Options80000<sup>1</sup> | February 18, 2025 | 2.97 | 2.97 | 6.91 | February 18, 2035 |
| William J. Adams Former CFO | Options100000<sup>1</sup> | March 14, 2025 | 2.74 | 2.72 | 6.91 | March 14, 2035 |
| Randall Kaye, Director | Options200000<sup>2</sup> | July 7, 2025 | 3.55 | 3.50 | 6.91 | July 7, 2030 |
| Randall Kaye, Director | Options60000<sup>2</sup> | May 16, 2025 | 4.00 | 4.68 | 6.91 | May 16, 2030 |

---

- A-xxiii -

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Compensation Securities** | **Compensation Securities** | **Compensation Securities** | **Compensation Securities** | **Compensation Securities** | **Compensation Securities** | **Compensation Securities** |
| **Name and <br> position<sup>3</sup>** | **Type of <br> compensation <br> security** | **Date of issue<br> or grant** | **Issue<br> conversion<br> or exercise <br> price <br> ($)**<sup>4</sup> | **Closing <br> price of <br> security or <br> underlying <br> security on <br> date of <br> grant <br> ($)** | **Closing<br> price of<br> security or<br> underlying<br> security at<br> year end <br> ($)** | **Expiry date** |
| Daniel D. Mikol Former CMO | Options80000<sup>1</sup> | February 18, 2025 | 2.97 | 2.97 | 6.91 | February 18, 2035 |
| Brian E. Bayley, Director | Options50000<sup>2</sup> | May 16, 2025 | 4.00 | 4.68 | 6.91 | May 16, 2030 |
| Harold M. Punnett, Director | Options50000<sup>2</sup> | May 16, 2025 | 4.00 | 4.68 | 6.91 | May 16, 2030 |
| Glenn A. Ives, Director | Options60000<sup>2</sup> | May 16, 2025 | 4.00 | 4.68 | 6.91 | May 16, 2030 |
| J. Craig Thompson, Director | Options60000<sup>2</sup> | May 16, 2025 | 4.00 | 4.68 | 6.91 | May 16, 2030 |
| Krista L. McKerracher, Director | Options60000<sup>2</sup> | May 16, 2025 | 4.00 | 4.68 | 6.91 | May 16, 2030 |
| John Ruffolo Director | Options50000<sup>2</sup> | May 16, 2025 | 4.00 | 4.68 | 6.91 | May 16, 2030 |
| Neil A. Klompas, Director | Options60000<sup>2</sup> | May 16, 2025 | 4.00 | 4.68 | 6.91 | May 16, 2030 |

---

**Notes:**

(1) 25% vests six months following the grant date and 25% vest every six months following such grant date, thereafter until fully vested.

(2) 25% vests three months following the grant date and 25% vest every three months following such grant date, thereafter until fully
vested.

(3) The total number of compensation securities held by each named executive officer or director on December 31, 2025 is as follows:

---

| | | |
|:---|:---|:---|
| **NEO or Director** | **Options Outstanding** | **Retention Securities** |
| Michael Kelly | **2818900** | **491667** |
| William Adams | **1360000** | **Nil** |
| Daniel Mikol | **Nil** | **Nil** |
| Brian Bayley | **275000** | **Nil** |
| Harold Punnett | **275000** | **Nil** |
| Randall Kaye | **585000** | **Nil** |
| Glenn Ives | **200000** | **Nil** |
| Adam Rogers | **390000** | **Nil** |
| Craig Thompson | **385000** | **Nil** |
| Krista McKerracher | **335000** | **Nil** |
| John Ruffolo | **250000** | **Nil** |
| Neil A. Klompas | **210000** | **Nil** |

---

(4) Pursuant to the Corporation's Amended and Restated Stock Option Plan, the exercise price is based on the most recent closing
price.

- A-xxiv -

***Incentive Plan Awards – Value Vested or Earned During the Year***

---

| | |
|:---|:---|
| **Name** | **Option-based awards – Value<br> vested during the year<sup>3</sup>**<br> **($)** |
| Adam Rogers, Current Chair, President, CEO & Interim CFO<sup>1</sup> | 6250 Nil |
| Michael Kelly, Former President, CEO & Director<sup>1</sup> | 2449285 Nil |
| William J. Adams Former CFO<sup>4</sup> | 14750 Nil |
| Dr. Daniel D. Mikol, Former CMO<sup>2</sup> | (8000) Nil |

---

**Notes:**

(1) Dr. Rogers was appointed interim CEO, and Mr. Kelly stepped down from his roles as CEO and Board
member, on July 15, 2025. Dr. Rogers was appointed President and CEO on February 9, 2026.

(2) Dr. Mikol stepped down from his role as CMO on July 1, 2025.

(3) The aggregate value of the option-based awards vested during the financial year is based on the difference
between the closing market price of the Common Shares on the TSX-V on the vesting date of the options and the exercise price of the options.

(4) Mr. Adams retired as CFO of the Corporation effective March 15, 2026. Dr. Rogers was appointed
interim CFO on the same date.

***Options Exercised by Directors and Named Executive Officers***

1,826,000 options were exercised during the year ended December 31, 2025 by a director or Named Executive Officer or former director or Named Executive Officer. 300,000 Options were exercised during the year ended December 31, 2024 by a director or Named Executive Officer or former director or Named Executive Officer.

***Pension Plan Benefits***

The Corporation does not have a pension plan for its NEOs and directors.

**Securities Authorized for Issuance under Equity Compensation Plans**

The following table sets forth certain details as at the end of the year ended December 31, 2025 with respect to compensation plans pursuant to which equity securities of the Corporation are authorized for issuance:

---

| | | | |
|:---|:---|:---|:---|
| **Plan Category** | **Number of securities to <br> be issued upon exercise <br> of outstanding stock <br> Options <br> (a)** | **Weighted-average exercise <br> price of outstanding <br> Options <br> (b)** | **Number of Common Shares <br> remaining available for future <br> issuance under the equity <br> compensation plans <br> (Excluding Common Shares <br> reflected in Column (a)) <br> (c)** |
| Equity compensation plans approved by shareholders | 14197529 | $2.31 | 2545629 |
| Equity compensation plans not approved by shareholders | Nil | Nil | Nil |
| Total | 14197259 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.31 | 2545629 |

---

- A-xxv -

***Particulars of the Stock Option Plan***

The Stock Option Plan, in its current form, was last approved by Shareholders on May 6, 2025. The Stock Option Plan is intended to attract, retain and motivate persons with the training, experience and leadership to be key service providers to the Corporation and its subsidiaries, including their directors, officers and employees, and to advance the interests of the Corporation. Options may be granted to a director, officer, employee or service provider of the Corporation or any related entity (being a person that controls or is controlled by the Corporation or that is controlled by the same person that controls the Corporation).

The Corporation is proposing for shareholder approval in this Circular a new Omnibus Plan. If the Omnibus Plan is approved, no further grants will be made under the Stock Option Plan, though existing grants under the Stock Option Plan will continue in effect in accordance with their terms.

***Material Terms of Stock Option Plan***

The aggregate number of Common Shares reserved for Options under the Stock Option Plan is fixed at 14,197,529 Common Shares, being 20% of the issued and outstanding Common Shares as at April 2, 2025. If Options expire or are surrendered or otherwise terminated without being exercised in whole or in part, new Options may be granted in place of such Options.

The grant of Options under the Stock Option Plan is subject to the following limitations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the number of Common Shares reserved for issuance to any one optionee pursuant to Options, when aggregated
with all other Common Shares reserved for issuance under any other Share Compensation Arrangement of the Corporation, may not exceed 5%
of the outstanding Common Shares on a yearly basis unless the Corporation obtains Disinterested Shareholder Approval;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the aggregate number of Common Shares reserved for issuance to any one consultant pursuant to Options
in any 12 month period, when aggregated with all Common Shares reserved for issuance to such consultant under any other Share Compensation
Arrangement of the Corporation, may not exceed 2% of the outstanding Common Shares on the date when the Options are granted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the aggregate number of Common Shares reserved for issuance to persons employed in Investor Relations
Activities pursuant to Options, when aggregated with all Common Shares reserved for issuance to such persons under any other Share Compensation
Arrangement of the Corporation, shall not exceed 2% of the outstanding Common Shares in any 12 month period calculated at the date such
Options are granted and with respect to Options granted to persons employed in Investor Relations Activities, no more than one quarter
of Options vest in each of the three, six, nine and twelve-month periods following the date such Options are granted; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Disinterested Shareholder Approval is required if there is a grant of Options to Insiders of the Corporation
within a 12 month period which, when the Common Shares issuable under such Options are aggregated with all Common Shares reserved for
issuance to Insiders of the Corporation under any other Share Compensation Arrangement of the Corporation, exceeds 10% of the issued Common
Shares.

- A-xxvi -

For the purposes of the Stock Option Plan, "Share Based Compensation" means any stock option, stock option plan, employee stock purchase plan, share distribution plan or any other compensation or incentive mechanism of the Corporation involving the issuance or potential issuance of shares to any director, officer or employee of or consultant to the Corporation or any of its subsidiaries, including a share purchase from treasury which is financially assisted by the Corporation by way of a loan, guaranty or otherwise, excluding any share or share-based compensation granted to a person not previously employed by, and not previously an Insider of, the Corporation as an inducement pursuant to Section 6.4 of TSXV Policy 4.4 – *Security Based Compensation.*

The exercise price of Options is determined by the Board but may not be less than the fair market value ("FMV") of the Common Shares on the grant date of the Options. The FMV is the last closing price of a board lot of the Common Shares before the grant date on the stock exchange or over the counter market which is the principal trading market for the Common Shares, as may be determined for such purpose by the Board.

The Options have a maximum term of ten years from the date of issue and Options vest as the Board may determine upon the award of the Options.

To the extent not earlier exercised, an Option shall terminate at the earliest of the following dates:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the expiry date specified for such Option in the Option agreement governing the specific terms of the
Options granted to the optionee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) where the optionee's position as an employee, a director or an executive officer of or a consultant
to the Corporation or any subsidiary is terminated for just cause, the date of such termination for just cause; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) where the optionee's position as an employee, a director or an executive officer of or a consultant
to the Corporation or any subsidiary (other than a person employed to provide Investor Relation Activities), terminates for a reason other
than the optionee's death or termination for just cause, 90 days after such date of termination, or in the case of a person employed
to provide Investor Relation Activities, 30 days after such termination but:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if an optionee's position changes from one of the said categories to another category such change
will not cause the Option to terminate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) upon the optionee, or guardian of an optionee, as applicable, making written application to the Board
and receiving the written consent of the Board, which consent may be given at the discretion of the Board, at such later date as determined
by the Board which must be no later than the original expiry date of such Option when it was granted and the first anniversary of the
optionee's termination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) where the optionee's position as an employee, a director or an executive officer of or a consultant
to the Corporation or any subsidiary (other than a person employed to provide Investor Relations Activities), terminates due to the optionee's
death, the first anniversary of the optionee's death; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the date of any sale, transfer, assignment or hypothecation, or any attempted sale, transfer, assignment
or hypothecation, of such Option in violation of non-transferability provisions.

- A-xxvii -

Subject to the approval of any stock exchange on which the Corporation's securities are listed, the Stock Option Plan may be terminated at any time by resolution of the Board, but any such termination will not affect or prejudice rights of participants holding Options at that time. If the Stock Option Plan is terminated, outstanding Options will continue to be governed by the provisions of the Stock Option Plan.

The Stock Option Plan contains additional provisions to provide for incentive stock option grants for United States resident optionees, intended to qualify as an "incentive stock option" pursuant to section 422 of the United States Internal Revenue Code of 1986, as amended.

The terms of the Stock Option Plan described above are intended as a summary only and are qualified in their entirety by reference to the Stock Option Plan.

***Particulars of the Omnibus Plan***

The Corporation is proposing for shareholder approval of the new Omnibus Plan. For a summary of the terms of the Omnibus Plan, please refer to "*Material Terms of the Omnibus Equity Incentive Plan*". The summary is qualified in its entirety by the full text of the Omnibus Plan, which is attached hereto as Appendix "A".

**Employment, Consulting and Management Agreements** *Dr. Adam Rogers Employment Agreement*

Dr. Rogers entered into an employment agreement with the Corporation on February 9, 2026, for a term commencing on February 9, 2026 to February 8, 2028, which may be extended for an additional year, pursuant to which Dr. Rogers was appointed as President and Chief Executive Officer of the Corporation (the "Rogers Employment Agreement"). The Rogers Employment Agreement entitled Dr. Rogers to an annual salary of US$350,000 (CAD$479,710<sup>1</sup>). If the Rogers Employment Agreement was terminated by the Corporation, for any reason other than cause, death, or disability, or is terminated as a result of a change of control, or if he resigns for good reason, subject to Dr. Rogers signing a separation agreement and release, Dr. Rogers would be entitled to the lesser of (i) six (6) months of his then-current base salary, plus an additional two (2) months of base salary for each completed year of service, capped at a maximum of twelve (12) months in total or (ii) base salary that would have been paid to him had his employment with the Corporation continued through the Expiration Date. Dr. Rogers would also be entitled to payment of any cash performance bonus payable with respect to the fiscal year prior to the fiscal year in which termination occurs (if not previously paid). In addition, the Corporation will pay the applicable insurance premiums for all health insurance, subject to Dr. Rogers' copayment of premium amounts at the applicable active employees' rate and Dr. Rogers' proper election to receive benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("COBRA"). The Corporation shall pay to the group health plan provider or the COBRA provider a monthly payment equal to the monthly employer contribution that the Corporation would have made to provide health insurance to Dr. Rogers if he had remained employed by the Corporation until the earliest of either (i) twelve (12) months following the effective date of termination if terminated outside a change of control period, or (ii) six (6) months following the effective date of termination if terminated during a change in control period, the date that Dr. Rogers becomes eligible for group medical plan benefits under any other employer's group medical plan, or the cessation of Dr. Rogers' health continuation rights under COBRA. In addition, Dr. Rogers will be entitled to the vesting acceleration of all outstanding Options effective as of the date of termination, if terminated during a change in control period, and that number of Options that would have vested in the twelve (12) months following such termination, if terminated outside a change of control period. As the Rogers Employment Agreement was not executed until 2026, there would be no entitlements until 2026.

<sup>1</sup> Assuming the Bank of Canada exchange rate on December 31, 2025 being US$1.00 = C$1.3706.

- A-xxviii -

*Mr. Michael Kelly Employment Agreement*

Mr. Kelly entered into an employment agreement with the Corporation on April 10, 2023, for an indefinite term, pursuant to which Mr. Kelly was employed as the President and Chief Executive Officer of the Corporation and the Subsidiary (the "Kelly Employment Agreement"). The Kelly Employment Agreement entitled Mr. Kelly to an annual salary of US$550,000 (CAD$753,830<sup>1</sup>). Mr. Kelly's agreement was further amended to increase his salary to US$572,000 (CAD$783,983<sup>1</sup>) effective January 1, 2024, and to US$589,160 (CAD$807,503<sup>1</sup>), effective January 1, 2025. If the Kelly Employment Agreement is terminated by the Corporation, for any reason other than cause, or is terminated as a result of a change of control, or if he resigns for good reason, subject to Mr. Kelly signing a separation agreement and release, Mr. Kelly would be entitled to eighteen (18) months salary continuance or severance or a combination thereof (the "Severance Benefit Period"). Mr. Kelly would also be entitled to payment of any cash performance bonus payable with respect to the fiscal year prior to the fiscal year in which termination occurs (if not previously paid), and payment of any prorated bonus for the year in which termination occurs, which payment shall be calculated based on the bonus payable or awarded for the previous fiscal year. In addition, the Corporation will pay the applicable insurance premiums for all health insurance, subject to Mr. Kelly's copayment of premium amounts at the applicable active employees' rate and Mr. Kelly's proper election to receive benefits under COBRA. The Corporation shall pay to the group health plan provider or the COBRA provider a monthly payment equal to the monthly employer contribution that the Corporation would have made to provide health insurance to Mr. Kelly if he had remained employed by the Corporation until the earliest of the end of the Severance Benefit Period or the date that Mr. Kelly becomes eligible for group medical plan benefits under any other employer's group medical plan, or the cessation of Mr. Kelly's health continuation rights under COBRA.

The Kelly Employment Agreement was terminated effective July 16, 2025 and replaced by a separation agreement (the "Kelly Separation Agreement"). The Kelly Separation Agreement provides for payment in lieu of notice in the amount of three (3) months of Mr. Kelly's salary, totaling US$147,290. Additionally, the post-termination exercise period for Mr. Kelly's outstanding stock option grants were extended twelve (12) months from the date of termination.

*Mr. William Adams Employment Agreement*

Mr. Adams entered into an employment agreement with the Corporation on February 21, 2020, for an indefinite term, pursuant to which Mr. Adams is employed as the Chief Financial Officer (the "Adams Employment Agreement"). Pursuant to the Adams Employment Agreement, Mr. Adams was entitled to an annual salary of $300,000. Due to the COVID-19 pandemic, Mr. Adams' agreement was amended effective April 1, 2020 to $120,000 annually until June 30, 2020. 60,000 stock options were granted to compensate Mr. Adams for the compensation reduction. Mr. Adams' agreement was further amended to increase his salary to $307,500, effective January 1, 2021, $318,263, effective January 1, 2022, $335,767, effective January 1, 2023, $382,774, effective January 1, 2024, and $685,878, effective January 1, 2025. If the Adams Employment Agreement is terminated by the Corporation, for any reason other than cause, Mr. Adams would be entitled to nine months' total notice of termination, plus one month for every year of employment up to a maximum of twelve months' total notice, or salary continuance or severance or a combination thereof. Mr. Adams would also be entitled to payment of any cash performance bonus payable with respect to the fiscal year prior to the fiscal year in which termination occurs (if not previously paid), and payment of any prorated bonus for the year in which termination occurs, which payment shall be calculated based on the bonus payable or awarded for the previous fiscal year. In addition, the Corporation will pay the applicable insurance premiums for all health insurance for Mr. Adams during the severance period or until such earlier date that substantially equivalent or better benefits are provided by a successor employer. If Mr. Adams' employment is terminated as a result of a change of control, or if he resigns for good reason during the change of control period, then he will be entitled, in addition to the foregoing severance, an additional lump sum payment equal to twelve months' total notice, or salary continuance, or severance, or a combination thereof at the Corporation's discretion. As at December 31, 2025, the obligation on termination of the Adams Employment Agreement by the Corporation, other than resulting from a change of control, would be $960,229 and the total obligation if termination resulted from a change of control would be $1,646,107.

- A-xxix -

Mr. Adams retired as an officer of the Corporation effective March 15, 2026.

<br> *Dr. Daniel Mikol Employment Agreement*

Dr. Mikol entered into an employment agreement with the Corporation on May 5, 2021, for an indefinite term, pursuant to which Dr. Mikol is employed as the Chief Medical Officer (the "Mikol Employment Agreement"). Pursuant to the Mikol Employment Agreement, Dr. Mikol is entitled to an annual salary of US$400,000 (CAD$548,240<sup>1</sup>). Dr. Mikol's agreement was amended to increase his salary to US$414,000 (CAD$567,428<sup>1</sup>), effective January 1, 2022, US$436,770 (CAD$598,637<sup>1</sup>), effective January 1, 2023, US$454,241 (CAD$622,583<sup>1</sup>), effective January 1, 2024, and US$467,868 (CAD$641,260<sup>1</sup>), effective January 1, 2025. If the Mikol Employment Agreement is terminated by the Corporation, for any reason other than cause, Dr. Mikol would be entitled to nine months' total notice of termination, plus one month for every year of employment up to a maximum of twelve months' total notice, or salary continuance or severance or a combination thereof. In addition, the Corporation will pay the applicable insurance premiums for all health insurance for Dr. Mikol during the severance period or until such earlier date that substantially equivalent or better benefits are provided by a successor employer. If Dr. Mikol's employment is terminated as a result of a change of control, or if he resigns for good reason during the change of control period, then he will be entitled, in addition to the foregoing severance, an additional lump sum payment equal to twelve months' total notice, or salary continuance, or severance, or a combination thereof at the Corporation's discretion.

Dr. Mikol stepped down from his role as CMO of the Corporation on July 1, 2025, and as such, no termination benefits or payments were made to Dr. Mikol. The Mikol Employment Agreement was terminated effective June 30, 2025 and replaced by a separation agreement (the "Mikol Separation Agreement"). Additionally, the post-termination exercise period for Mr. Mikol's outstanding stock option grants were extended 180 days from the date of termination.

**Oversight and Description of Director and Named Executive Officer Compensation**

The Corporation is a biotechnology research and development Corporation that focuses on commercializing technologies in various fields and is dependent on financing to carry on its business. In order to ensure alignment with shareholder interests, as well as to conserve cash resources, the Corporation relies, when possible and prudent, on stock options, in addition to cash payments to remunerate its officers, employees, consultants and other service providers. To this end, the Corporation maintains the Stock Option Plan, pursuant to which directors, officers, employees and consultants may be granted Options to purchase Common Shares. The Corporation does not maintain any pension or retirement plan.

***Use of Compensation Consultants***

In January 2025, the Corporation engaged a compensation specialist, Aon Consulting Inc. ("Aon"), to provide advice to management and the Compensation Committee on our compensation program. Aon was retained to provide the following support to the Corporation in the year ended December 31, 2025:

· advise
 on trends and developments in executive and director compensation;

- A-xxx -

· advise
 on director and management compensation programs and policies; and

· conduct
 a review of executive and director pay levels among comparable industry peers, independent
 compensation surveys and across the industry.

The results of the work performed by the compensation consultant was taken into consideration by the Compensation Committee and the Board for compensation paid to executive officers in the financial year ended December 31, 2025.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Executive Compensation-related Fees<br> ($)** | **Executive Compensation-related Fees<br> ($)** | **Executive Compensation-related Fees<br> ($)** | **All Other Fees<br> ($)** | **All Other Fees<br> ($)** |
| <br>**Name of Consultant** | **2025** | **2025** | **2024** | **2025** | **2024** |
| Aon Consulting Inc. | US$ | 99736 |  |  |  |

---

**INDEBTEDNESS OF DIRECTORS AND EXECUTIVE OFFICERS**

As of the date hereof, there is no indebtedness owing to the Corporation by any employees, officers, directors or nominees of the Corporation (or any associate or affiliate thereof).

**INTEREST OF INFORMED PERSONS IN MATERIAL TRANSACTIONS**

Other than as set out herein, none of the persons who were directors or executive officers of the Corporation or a subsidiary of the Corporation at any time during the Corporation's last financial year, the proposed nominees for election to the Board, any person or company who beneficially owns, directly or indirectly, or who exercises control or direction over (or a combination of both) more than 10% of the issued and outstanding common shares of the Corporation, nor any associate or affiliate of any such person, has any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any transaction during the year ended December 31, 2025, or has any such interest in any proposed transaction, which has materially affected or would materially affect the Corporation.

**MANAGEMENT CONTRACTS**

The business of the Corporation is managed by its directors and officers and the Corporation has no management agreements with persons who are not officers or directors of the Corporation.

**CORPORATE GOVERNANCE**

**General**

Corporate governance refers to the policies and structure of the board of directors of a company, whose members are elected by and are accountable to the shareholders of the company. Corporate governance encourages establishing a reasonable degree of independence of the board of directors from executive management and the adoption of policies to ensure the board of directors recognizes the principles of good management. The Board of the Corporation is committed to sound corporate governance practices; as such practices are both in the interests of shareholders and help to contribute to effective and efficient decision-making.

- A-xxxi -

The Board and management believe that the Corporation has a sound governance structure in place for both management and the Board. Of particular note, NervGen has established a written:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Mandate
 of the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Charter
 for the Audit, Compensation, Nominating and Corporate Governance, Corporate Finance and Science
 Committees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Disclosure
 and Trading Policy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Code
 of Ethics; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Whistleblower
 Policy.

The Canadian Securities Administrators (the "CSA") have adopted National Policy 58-201 - *Corporate Governance Guidelines*, which provides non-prescriptive guidelines on corporate governance practices for reporting issuers such as the Corporation. In addition, the CSA have implemented National Instrument 58-101 - *Disclosure of Corporate Governance Practices* ("NI 58-101"), which prescribes certain disclosure by the Corporation of its corporate governance practices. This section sets out the Corporation's approach to corporate governance and addresses the Corporation's compliance with NI 58-101.

**Board of Directors**

Pursuant to NI 58-101, directors are considered to be independent if they have no direct or indirect material relationship with the Corporation. A "material relationship" is a relationship which could, in the Board's view, be reasonably expected to interfere with the exercise of a director's independent judgment.

The Board facilitates its independent supervision over management by having a majority of independent directors on both the Board and committees of the Board. The independent members of the Board, as of the date hereof, are: Krista L. McKerracher, John C. Thompson, Brian E. Bayley, Harold M. Punnett, John Ruffolo and Neil A. Klompas. Adam H. Rogers is not independent as he is a current executive officer of the Corporation and Randall E. Kaye is not independent due to his consulting relationship with the Corporation. The mandate of the Board is to manage corporate governance matters pertaining to the business and affairs of the Corporation. In fulfilling its mandate, the Board as a whole oversees the development and application of policies regarding corporate governance, deals with corporate governance issues, and is responsible for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) adopting a strategic planning process for the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) understanding the principal risks of the Corporation's business and ensuring the implementation
of the appropriate systems to manage these risks;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) succession planning for the Corporation, including identifying, appointing, training and monitoring senior
management;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) overseeing the integrity of the Corporation's internal controls and management information systems;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) maintaining a continuing dialogue with management in order to ensure the ability to respond to changes,
both internal and external, which may affect the Corporation and its business operations from time to time.

In carrying out its mandate, the Board holds regular meetings and has established an audit committee. The frequency of meetings, as well as the nature of the matters dealt with, will vary from year to year depending on the state of the Corporation's business and the opportunities or risks which the Corporation faces from time to time. The Board facilitates its exercise of independent supervision over the Corporation's management through regular meetings of the Board being held to obtain an update on significant corporate activities and plans, both with and without members of the Corporation's management being in attendance. Additional in-camera sessions also follow Board, Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee meetings, as appropriate.

- A-xxxii -

The current Chairman of the Board is Dr. Rogers, who is not an independent director by virtue of his position as CEO of the Corporation. Given that Dr. Rogers is not considered independent of the Corporation, the Board has appointed J. Craig Thompson as Lead Independent Director. In this capacity, the Lead Independent Director works closely with the Chairman & CEO to lead and facilitate the Board's governance oversight and deliberations, and to support the Board in fulfilling its functions and responsibilities under its charter.

**Position Descriptions**

The Board has developed independent written position descriptions for the chair of the Board and chair of each committee, as described in the Board mandate and each respective committee charters. The Board has also developed independent written position descriptions for the CEO and lead director.

**Directorships**

The following table outlines other reporting issuers that Board members are directors of:

---

| | | |
|:---|:---|:---|
| **Name** | **Name of Reporting Issuer** | **Name of Exchange or Market** |
| J. Craig Thompson | Esperion Therapeutics, Inc | NASDAQ |
| Krista L. McKerracher | None | N/A |
| Brian E. Bayley | Monitor Ventures Inc. <br> Cypress Hills Resource Corp. <br> Jabbo Capital Corp. <br> Left Field Capital Corp. | NEX <br> NEX <br> TSXV <br> TSXV |
| Randall E. Kaye | None | N/A |
| Harold M. Punnett | None | N/A |
| Adam H. Rogers | None | N/A |
| Gianni (John) Ruffolo | None | N/A |
| Neil A. Klompas | InMed Pharmaceuticals | NASDAQ |

---

**Board Mandate**

The mandate of the Board is to review and approve the strategy of the Corporation, assist and oversee the performance of business operations and ensure compliance for the benefit of shareholders, employees, customers, suppliers, creditors and the communities in which the Corporation operates.

The Board is responsible for, among other things:

· developing
and articulating the Corporation's values, purpose, mission and strategies;

· monitoring
critical risks to the Corporation and the Corporation's strategic and business plans;

- A-xxxiii -

· reviewing
 the Corporation's approach to corporate governance, including reviewing the succession
 plans of the Corporation;

· ensuring
 that internal financial, non-financial and business controls and management information systems
 have been established and are being maintained by management; and

· ensuring
 compliance with the Corporation's bylaws.

A copy of the Board's mandate is attached hereto as Appendix "D".

**Orientation and Continuing Education**

Management will ensure that a new appointee to the Board receives the appropriate written materials to fully apprise him or her of the duties and responsibilities of a director pursuant to applicable law and policy. Each new director brings a different skill set and professional background, and with this information, the Board is able to determine what orientation to the nature and operations of the Corporation's business will be necessary and relevant to each new director.

**Ethical Business Conduct**

The Board expects management to operate the business of the Corporation in a manner that enhances shareholder value and is consistent with the highest level of integrity. Management is expected to execute the Corporation's business plan and to meet performance objectives and goals. In addition, the Board must comply with conflict of interest provisions in Canadian corporate law, including relevant securities regulatory instruments, in order to ensure that directors exercise independent judgment in considering transactions and agreements in respect of which a director or executive officer has a material interest.

In connection with the above, the Board has adopted the Code of Ethics and the Whistleblower Policy. Copies of the Code of Ethics and Whistleblower Policy are available on the Corporation's website at <u>www.nervgen.com/corporate-governance</u>.

**Nomination of Directors**

Given the Corporation's current stage of development and size, the Board is of the view that it functions effectively as a committee of the whole with respect to the nomination of directors. The entire Board will assess potential nominees with the recommendation of the Nominating and Corporate Governance Committee and take responsibility for selecting new directors. Any nominees are expected to be generally the result of recruitment efforts by the Board members, including both formal and informal discussions among Board members and the President of the Corporation.

The Corporation's articles of incorporation include a provision requiring advance notice of the nomination of persons to act as directors of the Corporation. Under this provision, subject only to the *Business Corporations Act* (British Columbia), nominations of persons for election to the Board may be made at any annual general meeting of shareholders, or at any special general meeting of shareholders if one of the purposes for which the special general meeting was called was the election of directors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by or at the direction of the Board including pursuant to a notice of meeting,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by or at the direction or request of one or more shareholders pursuant to a proposal made in accordance
with the provisions of the Business Corporations Act (British Columbia) or a requisition of the shareholders made in accordance with the
provisions of the Business Corporations Act (British Columbia) or

- A-xxxiv -

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) by any person (a "Nominating Shareholder") who

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) at the close of business on the date of the giving of the notice of nomination and on the record date
for notice of such meeting, is entered in the central securities register of the Corporation as a holder of one or more shares carrying
the right to vote at such meeting or who beneficially owns shares that are entitled to be voted at such meeting, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) complies with the notice procedures set out in the advance notice provision, including without limitation
that such notice must be provided to the Corporation

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) in the case of an annual general meeting of shareholders, not more than 60 days and not less than 35 days
prior to the date of the annual general meeting of shareholders (but if the annual general meeting of shareholders is called for a date
that is less than 50 days after the date on which the first public announcement of the date of the annual general meeting was made (the
 "Notice Date"), notice by the Nominating Shareholder may be made not later than the close of business on the 10<sup>th</sup>
business day following the Notice Date); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) in the case of a special meeting (which is not also an annual general meeting) of shareholders called
for the purpose of electing directors (whether or not called for other purposes), not later than the close of business on the 15<sup>th</sup>
business day following the day on which the first public announcement of the date of the special meeting of shareholders was made.

**Nominating and Corporate Governance Committee**

The Nominating and Corporate Governance Committee is composed entirely of independent directors. The Nominating and Corporate Governance Committee assists the Board by identifying, assessing and recommending qualified director appointments.

In addition, the Nominating and Corporate Governance Committee has the responsibility of, among other things: (i) making recommendations to the Board regarding Board changes and changes to the committees; (ii) reviewing, developing and recommending to the Board corporate governance guidelines; (iii) annually evaluating the performance of the Board, CEO and officers of the Corporation, and reporting to the Board and Compensation Committee the results of that evaluation; (iv) reviewing and monitoring the Corporation's compliance with applicable human rights laws; (v) developing and maintaining succession plans; (vi) developing a process for identifying and evaluating nominees to the Board; and (v) ensuring that procedures are in place and resources are made available to provide new directors with a proper orientation to the Corporation and their responsibilities and duties as directors and providing other directors with appropriate continuing education opportunities.

- A-xxxv -

**Compensation**

For disclosure on what steps are taken to determine compensation for the directors and the CEO, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) who determines compensation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the process for determining compensation, see the above heading "*Oversight and Description of Director and Named Executive Officer Compensation* ".

**Other Board Committees**

The Board has established a Science Committee to assist the Board in ensuring that the Corporation's research and development organization is optimized to support the strategic goals of the Corporation and to provide recommendations to the Board on key strategic and tactical issues related to the Corporation's research and development activities. The Science Committee reviews and monitors the science, processes and procedures, and infrastructure underlying the Corporation's major discovery and development programs.

The Board has established a Corporate Finance Committee to assist the Board in ensuring that the Corporation has the financial resources to execute its strategic plan. The Corporate Finance Committee provides advice, counsel and direction to management of the Corporation regarding capital and corporate financing, capital structure management, mergers, acquisitions, divestitures, other strategic investments and risk management.

**Assessments**

The Board annually reviews its own performance and effectiveness. The Nominating and Governance Committee has implemented a formal review process to regularly assess the Board, its committees and the individual directors with respect to their effectiveness and contributions. Effectiveness is subjectively measured by comparing actual corporate results with stated objectives. The contributions of an individual director are informally monitored by the other Board members, having in mind the business strengths of the individual and the purpose of originally nominating the individual to the Board.

The Board is of the view that the Corporation's corporate governance practices are appropriate and effective for the Corporation, given its relatively small size and limited operations. The Corporation's method of corporate governance allows for the Corporation to operate efficiently, with simple checks and balances that control and monitor management and corporate functions without excessive administrative burden.

**Director Attendance at Board Meetings**

The directors' attendance at Board meetings during the Corporation's most recently completed financial year is set forth in the table below. During the year, the Board met eight (8) times.

---

| | |
|:---|:---|
| **Name** | **Attendance at Board meetings** |
| J. Craig Thompson | 8 |
| Krista L. McKerracher | 8 |
| Brian E. Bayley | 5 |
| Randall E. Kaye | 7 |
| Harold M. Punnett | 7 |
| Adam H. Rogers | 8 |

---

- A-xxxvi -

---

| | |
|:---|:---|
| **Name** | **Attendance at Board meetings** |
| Gianni (John) Ruffolo | 7 |
| Neil A. Klompas | 8 |
| Glenn A. Ives | 4 |
| Michael Kelly | 5 |

---

**Director Term Limits and Other Mechanisms of Board Renewal**

The Board has not established term limits or other automatic mechanisms of Board renewal, which ensures that the Corporation benefits from access to directors that have been able to develop, over a period of time, increasing insight into the Corporation and its operations. Instead of adopting formal term limits, the Nominating and Corporate Governance Committee regularly assesses the performance and competencies of the Board, each committee and each director, and reports their evaluation to the Board.

**Diversity of the Board**

The Corporation does not have a formal policy nor measurable objectives (such as a target) regarding board diversity for the representation of women on the Board, management team or executive officers. The Corporation expects that its priority in the selection of the Board will be to identify members who will further the interests of its shareholders through their established record of professional accomplishment, the ability to contribute positively to the collaborative culture among board members, and knowledge of the Corporation's business and understanding of the competitive landscape. In accordance with the charter of the Board, the Board seeks members from diverse backgrounds so that the Board consists of members with a broad spectrum of experience and expertise and with a reputation for integrity.

The Corporation expects to facilitate the representation of women on its Board and in executive officer positions by ensuring that diversity considerations are taken into account in senior management, monitoring the level of female representation on the Board and in senior management positions, continuing to broaden recruiting efforts to attract and interview qualified female candidates, and committing to retention and training to ensure that the Corporation's most talented employees are promoted from within the organization.

Currently, one of the eight members (12.5%) of the Board are women. None of our executive officers are women. Three of the seven members (43%) of the Corporation's senior management team are women.

**Audit Committee**

NI 51-102 requires the Corporation to disclose annually in its information circular certain information concerning the constitution of the audit committee and its relationship with its independent auditor, as set forth below.

***Audit Committee Charter***

The Audit Committee is governed by its charter. A copy of the text of the Audit Committee's charter, established in accordance with National Instrument 52-110 – *Audit Committees* ("NI 52-110"), is set out in Appendix "C" to this circular.

- A-xxxvii -

***Composition of the Audit Committee***

The current members of the Audit Committee are all independent directors, namely: Neil A. Klompas (Chair), Brian E. Bayley, and Dr. Harold M. Punnett. The Audit Committee reviews the annual and quarterly financial statements of the Corporation and certain other public disclosure documents required by regulatory authorities and makes recommendations to the Board with respect thereto. The Audit Committee also reviews with the auditors and management the adequacy of the Corporation's financial reporting and internal control procedures to ensure they are effective and appropriate. All members of the Audit Committee are considered to be financially literate within the meaning of NI 52-110.

***Relevant Education and Experience***

See disclosure under the above heading "*Director Biographies*". All of the Audit Committee members are independent of management of the Corporation as required by Nasdaq and applicable securities laws and each member is financially literate in that each has the ability to read and understand a set of financial statements that present a breadth and level of complexity of accounting issues that are generally comparable to the breadth and complexity of the issues that can reasonably be expected to be raised by the Corporation's financial statements. Each individual has experience managing a company at an executive level and, in those roles, reviewing financial statements and reports. In addition to their experience as Executive Officers, each member of the Audit Committee has experience serving on public company Boards. Neil Klompas, Chair of the Audit Committee, has been appointed as the Audit Committee's Financial Expert (as such term is defined in Item 407(d)(5) of Regulation S-K of the Securities Act of 1933, as amended).

***Audit Committee Oversight***

The Audit Committee has not made any recommendations to the Board to nominate or compensate any auditor other than KPMG.

***External Service Auditor Fees***

The fees paid by the Corporation to its auditor in the last two financial years, by category, are as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Financial Year Ending** | **Audit Fees<sup>(1)</sup>** | **Tax Fees<sup>(3)</sup>** | **Securities <br> Offerings Fees<sup>(4)</sup>** |
| December 31, 2025 | $347365 Nil | $88378 | $245850 Nil |
| December 31, 2024 | $258140 Nil | $96537 | $115951 Nil |

---

**Notes:**

(1) "Audit Fees" include, where applicable, fees necessary to perform the annual audit and the
quarterly review of the Corporation's consolidated financial statements. Audit Fees include fees for the review of tax provisions
and for accounting consultations on matters reflected in the financial statements. Audit Fees include audit and other attest services
required by legislation or regulation, such as comfort letters, consents, reviews of securities filings and statutory audits.

(2) "Audit Related Fees" include, where applicable, services that are traditionally performed
by the auditor. These audit-related services include employee benefits audits, due diligence assistance, accounting consultants on proposed
transactions, internal control reviews and audit or attest services not required by legislation or regulation.

(3) "Tax Fees" include, where applicable, fees for all tax services other than those included
in "Audit Fees" and "Audit Related Fees". This category includes fees for tax compliance, tax planning and tax
advice. Tax planning and tax advice includes Assistance with tax audits and appeals, tax advice related to mergers and acquisitions, and
requests for rulings or technical advice from tax authorities.

(4) Fees pertain to services rendered in connection with securities offerings, including the review of preliminary
and final short form prospectus and prospectus supplement.

(5) "All Other Fees" includes, where applicable, all other non-audit services.

- A-xxxviii -

**ADDITIONAL INFORMATION**

Additional information relating to the Corporation is on <u>www.sedarplus.ca</u> and under our profile on <u>www.SEC.gov.</u> Financial information is provided in the Corporation's comparative financial statements and management discussion and analysis, which is filed on <u>www.sedarplus.ca</u>. The Corporation will provide to any person or company, upon request to the Corporation, one copy of the comparative financial statements of the Corporation filed with the applicable securities regulatory authorities for the Corporation's most recently completed financial year in respect of which such financial statements have been issued, together with the report of the auditor, related management's discussion and analysis and any interim financial statements of the Corporation filed with the applicable securities regulatory authorities subsequent to the filing of the annual financial statements.

Copies of the above documents are available without charge to shareholders upon written request to the Corporation by emailing <u>info@nervgen.com.</u>

OTHER MATTERS

As of the date of this Circular, the Board and management are not aware of any matters to come before the Meeting other than those matters specifically identified in the accompanying Notice of Meeting. However, if such other matters properly come before the Meeting or any adjournment(s) thereof, the persons designated in the accompanying form of proxy will vote thereon in accordance with their judgment, pursuant to the discretionary authority conferred by the form of proxy with respect to such matters.

- A-xxxix -

**BOARD APPROVAL**

The contents of this Circular and its distribution to shareholders have been approved by the Board of Directors of the Corporation.

DATED this 13th day of March, 2026.

---

| |
|:---|
| **BY ORDER OF THE BOARD OF DIRECTORS** |
| *"Adam Rogers"* |
| Adam Rogers |
| Chairperson |

---

- A-xl -

**APPENDIX A**

**OMNIBUS INCENTIVE PLAN**

**NERVGEN PHARMA CORP.**

**2026 EQUITY INCENTIVE PLAN**

ARTICLE I.<br> PURPOSE

The purpose of this NervGen Pharma Corp., 2026 Equity Incentive Plan (this "**Plan**") is to promote the success of the Company's business for the benefit of its shareholders by aligning employee and shareholder interests through the grant of awards to offer Eligible Individuals equity-based incentives in order to attract, retain, and reward such individuals and strengthen the alignment of interests between such individuals and the Company's shareholders.

This Plan supersedes and replaces the NervGen Pharma Corp., Amended and Restated Stock Option Plan (the "**Prior Plan**") in its entirety. The Company may not grant awards under the Prior Plan on or following the Effective Date. Awards granted under the Prior Plan prior to the Effective Date will remain subject to the terms and conditions set forth in the Prior Plan.

ARTICLE II.<br> DEFINITIONS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 "**Affiliate**" means a corporation or other entity controlled by, controlling, or under common control with the Company. The term "control" (including, with correlative meaning, the terms "controlled by" and "under common control with"), as applied to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of management and policies of such Person, whether through the ownership of voting or other securities, by contract or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 "**Applicable Law**" means the requirements applicable to the Company or any Eligible Individual relating to equity- or cash-based compensation, as applicable, and the related equity interests under U.S. and Canadian federal, state, provincial, and local law, as applicable, foreign law, the rules or requirements of any stock exchange or quotation system on which the Shares are listed or quoted, and any other applicable laws, including the Code and other tax laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 "**Award**" means an award under this Plan of any Stock Option, Restricted Stock Unit, Dividend Equivalent Right, or Other Stock-Based Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 "**Award Agreement**" means the written or electronic agreement, contract, certificate, or other instrument or document evidencing the terms and conditions of an individual Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 "**Board**" means the Board of Directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 "**Cause**" means, unless otherwise defined in the applicable Award Agreement, either (a) where there is an employment agreement, offer letter, consulting agreement, change in control agreement, or similar agreement in effect between the Company or an Affiliate and the Participant at the time of the grant of the Award that defines "cause" (or term of like import), "cause" (or term of like import) as defined under such agreement, or (b) where clause (a) above does not apply, the Participant's (i) commission of, or plea of guilty or no contest to, a felony or a crime involving moral turpitude or the commission of any other act or omission involving willful malfeasance or material fiduciary breach with respect to the Company or an Affiliate, (ii) substantial and repeated failure to perform duties as reasonably directed by the person to whom the Participant reports, (iii) conduct that brings or is reasonably likely to bring the Company or an Affiliate negative publicity or into public disgrace, embarrassment, or disrepute, (iv) gross negligence or willful misconduct with respect to the Company or an Affiliate, (v) material violation of the Company's policies or codes of conduct, including policies related to discrimination, harassment, performance of illegal or unethical activities, or ethical misconduct, or (vi) breach of any non-competition, non-solicitation, no-hire, or confidentiality covenant between the Participant and the Company or an Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7 "**Change in Control**" means each of the following, unless otherwise set forth in the applicable Award Agreement or other written agreement with a Participant that is approved by the Committee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any Person (other than the Company, any trustee or other fiduciary holding securities under any employee benefit plan of the Company, or any entity owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of the Company), becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company's then-outstanding securities, excluding for purposes herein, acquisitions pursuant to a Business Combination (as defined below) that does not constitute a Change in Control as defined in Section 2.7(b),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a merger, amalgamation, arrangement, reorganization, or consolidation of the Company or in which equity securities of the Company are issued (each, a "**Business Combination**"), other than a merger, amalgamation, arrangement, reorganization, or consolidation after which the voting securities of the Company outstanding immediately prior thereto continue to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its direct or indirect parent) more than 50% of the combined voting power of the voting securities of the Company or such surviving entity (or, as applicable, a direct or indirect parent of the Company or such surviving entity) outstanding immediately after such merger, amalgamation, arrangement, reorganization, or consolidation; provided, however, that a merger, reorganization, or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person (other than those covered by the exceptions in Section 2.7(a)) acquires more than 50% of the combined voting power of the Company's then-outstanding securities will not constitute a Change in Control,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) during any two-year period, individuals who, at the beginning of such period, constitute a majority of the Board together with any new director(s) (other than a director designated by a Person who has entered into an agreement with the Company to effect a transaction described in Sections 2.7(a) or (b)) whose election by the Board or nomination for election by the Company's shareholders was approved by a vote of at least a majority of the directors then still in office who either were directors at the beginning of the two-year period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) a complete liquidation or dissolution of the Company or the consummation of a sale or disposition by the Company of all or substantially all of the Company's assets other than the sale or disposition of all or substantially all of the assets of the Company to a Person or Persons who beneficially own, directly or indirectly, 50% or more of the combined voting power of the outstanding voting securities of the Company at the time of the sale.

Notwithstanding the foregoing, with respect to any Award that provides for a "deferral of compensation" within the meaning of Section 409A that is payable upon a Change in Control, an event will not constitute a Change in Control under this Plan for purposes of payment of such Award unless such event is also a "change in ownership," a "change in effective control," or a "change in the ownership of a substantial portion of the assets" of the Company within the meaning of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8 "**Change in Control Price**" means the highest price per Share paid in any transaction related to a Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9 "**Code**" means the U.S. Internal Revenue Code of 1986, as amended from time to time. Any reference to a specific section of the Code or regulation thereunder includes such section or regulation, any valid regulation or interpretation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing, or superseding such section or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10 "**Committee**" means any committee of the Board duly authorized by the Board to administer this Plan; <u>provided</u>, <u>however</u>, that unless otherwise determined by the Board, the Committee must consist solely of two or more members of the Board who are each (a) a "non-employee director" within the meaning of Rule 16b-3(b) and (b) "independent" under the listing standards or rules of the securities exchange upon which the Shares is traded, but only to the extent that such independence is required in order to take the action at issue pursuant to such standards or rules. If no committee is duly authorized by the Board to administer this Plan, the term "Committee" will be deemed to refer to the Board for all purposes under this Plan. The Board may abolish any Committee or re-vest in itself any previously delegated authority from time to time and will retain the right to exercise the authority of the Committee to the extent consistent with Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11 "**Company**" means NervGen Pharma Corp., a corporation governed by the Business Corporations Act (*British Columbia*), and its successors by operation of law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12 "**Consultant**" means any natural person who is an advisor or consultant or other service provider to the Company or any of its Affiliates unless the Committee determines that an exemption from applicable prospectus requirements is not available with respect to the grant of an Award to such person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13 "**Detrimental Conduct**" means a Participant's serious misconduct or unethical behavior, including any of the following: (a) any violation by the Participant of a restrictive covenant agreement to which the Participant is a party with the Company or an Affiliate (covering, for example, confidentiality, non-competition, non-solicitation, non-disparagement, etc.), (b) any conduct by the Participant that could result in the Participant's Termination of Service for Cause, (c) the commission of a criminal act by the Participant, whether or not performed in the workplace, that subjects, or if generally known would subject, the Company or an Affiliate to public ridicule or embarrassment, or other improper or intentional conduct by the Participant causing reputational harm to the Company, an Affiliate, or a client or former client of the Company or an Affiliate, (d) the Participant's breach of a fiduciary duty owed to the Company or an Affiliate or a client or customer or a former client or customer of the Company or an Affiliate, or (e) the Participant's intentional violation, or grossly negligent disregard, of the Company's or an Affiliate's policies, rules, or procedures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14 "**Disability**" means, unless otherwise defined in the applicable Award Agreement, the Participant's inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment, after accounting for reasonable accommodations (if applicable and required by Applicable Law); <u>provided</u>, <u>however</u>, for purposes of an Incentive Stock Option, the term Disability will have the meaning ascribed to it under Section 22(e)(3) of the Code. The Committee will determine whether an individual has a Disability, and in so doing the Committee may rely on any determination that a Participant is disabled for purposes of eligibility for benefits under any long-term disability plan in which the Participant participates that is maintained by the Company or any Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15 "**Dividend Equivalent Right**" means a right granted to a Participant under this Plan to receive, subject to the terms of the applicable Award Agreement, the equivalent value (in cash or Shares) of dividends paid on Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.16 "**Effective Date**" means the effective date of this Plan as defined in ARTICLE XIII.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17 "**Eligible Employee**" means an employee of the Company or any of its Affiliates. An employee on a leave of absence may be an Eligible Employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.18 "**Eligible Individual**" means an Eligible Employee, Non-Employee Director, or Consultant whom the Committee designates in its discretion as eligible to receive an Award in accordance with the terms and conditions of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19 "**Exchange Act**" means the U.S. Securities Exchange Act of 1934, as amended from time to time. Any reference to a specific section of the Exchange Act or regulation thereunder includes such section or regulation, any valid regulation or interpretation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing, or superseding such section or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20 "**Fair Market Value**" means, unless otherwise required by Applicable Law, as of any date and except as provided below, either (a) the last sales price reported for the Shares on the applicable date on the principal national securities exchange in the United States on which they are then traded, listed, or otherwise reported or quoted or the value of the Shares as determined by the Committee applying any other reasonable method using actual transactions in the Shares as reported on such exchange in accordance with the requirements of Section 409A or other Applicable Law, or (b) if the Shares are not traded, listed, or otherwise reported or quoted on a national securities exchange in the United States, the Committee will determine in good faith the Fair Market Value in whatever manner it considers appropriate. When determining Fair Market Value under clause (a) above for any purpose in connection with the grant of an Award, the date of determination will be the trading day immediately prior to the date on which the Award is granted. When determining Fair Market Value under clause (a) above for any purpose in connection with the exercise of an Award, the date of determination will be the date on which a notice of exercise is received by the Company or, if not a date on which the applicable market is open, the next day on which it is open.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.21 "**Family Member**" has meaning given to it in the general instructions of Form S-8.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.22 "**Incentive Stock Option**" means any Stock Option granted to an Eligible Employee who is an employee of the Company, its Parents, or its Subsidiaries and that is intended to be, and is designated in the applicable Award Agreement as, an "incentive stock option" within the meaning of Section 422 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.23 "**Non-Employee Director**" means a director on the Board who is not an employee of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.24 "**Non-Qualified Stock Option**" means any Stock Option that is not an Incentive Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25 "**Other Stock-Based Award**" means an award pursuant to ARTICLE VIII that is valued in whole or in part by reference to, or is payable in or otherwise based on, Shares, but may be settled, subject to the terms of the applicable Award Agreement, in the form of Shares or cash.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.26 "**Parent**" means any "parent corporation" of the Company within the meaning of Section 424(e) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.27 "**Participant**" means an Eligible Individual who has accepted and holds an Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28 "**Person**" has the meaning given to it in Sections 13(d) and 14(d) of the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.29 "**Restricted Stock Unit**" means an unfunded, unsecured right to receive, on the applicable settlement date, subject to the terms of the applicable Award Agreement, one Share or an amount in cash or other consideration determined by the Committee to be of equal value as of such settlement date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30 "**Rule 16b-3**" means Rule 16b-3 under Section 16(b) of the Exchange Act as then in effect or any successor provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.31 "**Section 409A**" means Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.32 "**Securities Act**" means the U.S. Securities Act of 1933, as amended, and all rules and regulations promulgated thereunder. Any reference to a specific section of the Securities Act or regulation thereunder includes such section or regulation, any valid regulation or interpretation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing, or superseding such section or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.33 "**Shares**" means the common shares, no par value per share, of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.34 "**Stock Option**" means an option to purchase Shares pursuant to ARTICLE VI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35 "**Subsidiary**" means a subsidiary corporation of the Company within the meaning of Section 424(f) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36 "**Ten-Percent Shareholder**" means a Person owning stock representing more than ten percent (10%) of the total combined voting power of all classes of shares of the Company, its Parent, or its Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.37 "**Termination of Service**" means the termination of the applicable Participant's employment with, or performance of services for, the Company and its Affiliates. Unless otherwise determined by the Committee, (a) if a Participant's employment or services with the Company and its Affiliates terminates but such Participant continues to provide services to the Company and its Affiliates in a non-employee capacity, such change in status will not be deemed a Termination of Service with the Company and its Affiliates, and (b) a Participant employed by, or performing services for, an Affiliate that ceases to be an Affiliate will also be deemed to have suffered a Termination of Service if the Participant does not immediately thereafter become an employee of, or other service provider to, the Company or another Affiliate. Notwithstanding the foregoing, with respect to any Award that provides for a "deferral of compensation" within the meaning of Section 409A that is payable upon a Termination of Service, a Participant will not be considered to have suffered a "Termination of Service" for purposes of payment of such Award unless the Participant has suffered a "separation from service" within the meaning of Section 409A.

ARTICLE III.

ADMINISTRATION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <u>Authority of the Committee</u>. The Committee will administer this Plan in accordance with its terms and Applicable Law, and in furtherance thereof, the Committee will have complete authority at any time and from time to time, in its sole discretion, to cause the Company to grant Awards to Eligible Individuals and to do the following, in each case to the extent not inconsistent with the terms of this Plan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) determine whether and to what extent one or more Awards are to be granted to one or more Eligible Individuals,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) determine the number of Shares or cash amount to be covered by Awards,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) determine the terms and conditions of Awards, including but not limited to the exercise or purchase price (if any), any condition, restriction, or limitation on receipt or retention, any vesting schedule and vesting terms, including performance-related vesting terms, and any forfeiture restrictions or waiver thereof,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) determine whether, to what extent, and under what circumstances Awards are to operate on a tandem basis or in conjunction with or apart from other awards made by the Company outside of this Plan,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) determine whether, to what extent, and under what circumstances an Award may be settled in cash, Shares, other property, or a combination of the foregoing,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) determine whether, to what extent, and under what circumstances cash, Shares, or other property payable with respect to an Award must or may be deferred either automatically or at the election of the Participant,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) modify, waive, amend, or adjust the terms and conditions of any Award,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) determine whether a Stock Option is an Incentive Stock Option or Non-Qualified Stock Option,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) determine whether to require a Participant, as a condition of the granting, retention, or settlement of any Award, to not sell or otherwise dispose of Shares acquired pursuant to the exercise, vesting, or settlement of an Award for a specified period of time following the date of the acquisition of such Award or Shares,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) modify, extend, or renew an Award,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) determine how the Disability, death, retirement, authorized leave of absence, or any other change or purported change in a Participant's status affects an Award and the extent to which, and the period during which, the Participant or the Participant's legal representative, conservator, guardian, or beneficiary may exercise rights under the Award, if applicable,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) adopt, alter, and repeal administrative rules, guidelines, and practices governing this Plan,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) construe and interpret the terms and provisions of this Plan and any Award (and any agreements or sub-plans relating thereto),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) correct any defect, supply any omission, or reconcile any inconsistency in this Plan or in any agreement relating thereto in the manner and to the extent that it deems necessary to effectuate the purpose and intent of this Plan, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) adopt special rules, sub-plans, guidelines, and provisions for persons who are residing in or employed in, or subject to, the laws of any domestic or foreign jurisdictions to satisfy or accommodate such laws or to qualify for preferred tax treatment thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <u>Designation of Consultants; Delegation of Authority</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Committee may employ such legal counsel, consultants, and agents as it deems desirable for the administration of this Plan and may in good faith rely upon any opinion or calculation received from any of them. The Company will pay for all expenses incurred in connection with any such engagement. To the maximum extent permitted by Applicable Law, neither the Board, the Committee, nor any of their respective members or delegates, nor any third party engaged pursuant to this Section 3.2, will be liable for any action or determination made in good faith with respect to this Plan or any Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Committee may delegate any or all of its powers and duties under this Plan to a subcommittee of directors or to any officer of the Company, including the power to perform administrative functions (including executing agreements or other documents on behalf of the Committee) and to grant Awards, provided that such delegation does not (i) violate Applicable Law or (ii) result in the loss of an exemption under Rule 16b-3(d)(1) for Awards granted to Participants subject to Section 16 of the Exchange Act in respect of the Company. Upon any such delegation, all references in this Plan to the "**Committee**" are deemed to include any subcommittee or person to whom the Committee has delegated such powers. No such delegation will limit the right of such subcommittee members or officers to receive Awards; <u>provided</u>, <u>however</u>, that no such delegate may cause the Company to grant Awards to himself or herself, a member of the Board, or any executive officer of the Company or an Affiliate, or take any action with respect to any Award previously granted to himself or herself, a member of the Board, or any executive officer of the Company or an Affiliate. The Committee may also designate employees or professional advisors who are not officers of the Company or members of the Board to assist in administering this Plan, <u>provided</u>, <u>however</u>, that such individuals may not be delegated the authority to grant or modify any Awards that will, or may, be settled in Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 <u>Administrative Discretion; Decisions Final</u>. Each decision, interpretation,

and other action made or taken in good faith by or at the direction of the Company, the Board, or the Committee (or any of its members), or any of their respective delegates, arising out of or in connection with this Plan may be made in the absolute discretion of all and each of them, as the case may be, and will be final, binding, and conclusive on the Company and all employees and other services providers, including prospective employees and service providers, and all Participants, and their respective heirs, executors, administrators, successors, and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 <u>Indemnification</u>. To the maximum extent permitted by Applicable Law and

to the extent not covered by insurance directly insuring such person, the Company will indemnify and hold harmless each officer and employee of the Company and its Affiliates, and each member of the Committee or the Board, whether during or after his or her service with the Company and its Affiliates, against all costs and expenses (including reasonable fees of counsel acceptable to the Committee) and liabilities (including any sum paid in settlement of a claim with the approval of the Committee), arising out of any act or omission to act that is authorized by the terms of this Plan in connection with the administration of this Plan, and will advance amounts necessary to pay the foregoing as incurred, except in any case to the extent arising out of such person's own fraud or bad faith. Such indemnification will be in addition to any right of indemnification that such person has under Applicable Law, contract with the Company, or under the articles or by-laws of the Company or any of its Affiliates.

ARTICLE IV.

SHARE LIMITATIONS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <u>Shares</u>. The aggregate number of Shares that the Company may issue or

deliver pursuant to this Plan may not exceed 3,000,000 Shares (subject to any increase or decrease pursuant to this ARTICLE IV), which Shares may be either authorized and unissued Shares or Shares held in or acquired for the treasury of the Company or both. The number of Shares that the Company may issue or deliver pursuant to this Plan will increase on January 1 of each calendar year from 2027 through 2036 by the lesser of (a) 5% of the aggregate number of Shares and prefunded warrants to purchase Shares outstanding on December 31 of the immediately preceding calendar year and (b) such smaller number of Shares determined by the Board. The aggregate number of Shares that the Company may issue or deliver with respect to any Incentive Stock Option may not exceed 3,000,000 Shares (subject to any increase or decrease pursuant to Section 4.3). Notwithstanding anything to the contrary contained herein, Shares subject to an Award or any award under the Prior Plan (a "**Prior Plan Award**") will again be made available for issuance or delivery under this Plan if such Shares are (i) delivered, withheld, or surrendered in payment of the exercise or purchase price of an Award or Prior Plan Award, (ii) delivered, withheld, or surrendered to satisfy any tax withholding obligation, or (iii) subject to a stock-settled Award or Prior Plan Award that expires or is canceled, forfeited, or terminated without issuance of the full number of Shares to which the Award or Prior Plan Award related.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <u>Substitute Awards</u>. In connection with an entity's merger or consolidation

with the Company or the Company's acquisition of an entity's property or stock, the Committee may grant Awards in substitution for any options or other stock or stock-based awards granted before such merger or consolidation by such entity or its affiliate ("**Substitute Awards**"). Substitute Awards may be granted on such terms as the Committee deems appropriate, notwithstanding limitations on Awards in this Plan. Substitute Awards will not count against the Shares authorized for grant under this Plan (nor will Shares subject to a Substitute Award be added to the Shares available for Awards under this Plan as provided under Section 4.1 above), except that Shares acquired by exercise of substitute Incentive Stock Options will count against the maximum number of Shares that may be issued pursuant to the exercise of Incentive Stock Options under this Plan, as set forth in Section 4.1 above. Additionally, if a Person acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines has shares available under a pre-existing plan approved by shareholders and not adopted in contemplation of such acquisition or combination, the shares available for grants pursuant to the terms of such preexisting plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such acquisition or combination to determine the consideration payable to the holders of common stock of the entities party to such acquisition or combination, or if such consideration is in the form of cash, such exchange ratio or other adjustment or valuation ratio or formula determined by the Committee as referring to the ratio between such cash consideration and the Fair Market Value of the Shares at the time of such transaction) may be used for Awards under this Plan without reducing the Shares authorized for issuance or delivery pursuant to this Plan (and Shares subject to such Awards will not be added back to the Shares available for Awards under this Plan as provided under Section 4.1 above); <u>provided</u> that Awards using such available shares may not be granted after the last date on which awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and may be granted only to individuals who were not Eligible Employees or Non-Employee Directors prior to such acquisition or combination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <u>Adjustments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The existence of this Plan and the Awards granted hereunder will not affect in any way the right or power of the Board or the shareholders of the Company to make or authorize (i) any adjustment, recapitalization, reorganization, or other change in the Company's capital structure or its business, (ii) any merger, amalgamation, arrangement, or consolidation of the Company or any Affiliate, (iii) any issuance of bonds, debentures, or preferred or prior preference stock ahead of or affecting the Shares, (iv) the dissolution or liquidation of the Company or any Affiliate, (v) any sale or transfer of all or part of the assets or business of the Company or any Affiliate, or (vi) any other corporate act or proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to the provisions of ARTICLE IX:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If the Company at any time subdivides the outstanding Shares into a greater number of Shares (by any split, recapitalization, or otherwise), or combines its outstanding Shares into a lesser number of Shares (by reverse split, combination, or otherwise), then the Committee will, to the extent that it deems necessary, adjust the respective exercise prices for outstanding Awards subject to exercise and the number of Shares covered by outstanding Awards to prevent dilution or enlargement of the rights granted to, or available for, Participants under this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Excepting transactions covered by Section 4.3(b)(i), if the Company effects any merger, amalgamation, arrangement, consolidation, statutory exchange, spin-off, reorganization, sale or transfer of all or substantially all the Company's assets or business, or other corporate transaction or event in such a manner that the Company's outstanding Shares are converted into the right to receive (or the holders of Shares are entitled to receive in exchange therefor), either immediately or upon liquidation of the Company, securities or other property of the Company or other entity, then the Committee will, to the extent that it deems necessary, adjust (A) the aggregate number or kind of securities that thereafter may be issued or delivered pursuant to this Plan, (B) the number or kind of securities or other property (including cash) to be issued or delivered pursuant to Awards (including as a result of the assumption of this Plan and the obligations hereunder by a successor entity, as applicable), and (C) the exercise or purchase price thereof to prevent dilution or enlargement of the rights granted to, or available for, Participants under this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) If there occurs any change in the capital structure of the Company other than those covered by Section 4.3(b)(i) or (ii), or any conversion, adjustment, or issuance of any class of securities convertible or exercisable into, or exercisable for, any class of equity securities of the Company, then the Committee will, to the extent that it deems necessary, adjust any Award and make such other adjustments to this Plan to prevent dilution or enlargement of the rights granted to, or available for, Participants under this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) If the equity interests of the Company are split up, converted, exchanged, reclassified, or in any way substituted for, or if any equity issuance, capital contribution, or other unusual or nonrecurring event occurs (including any acquisition or disposition of any line of business or other material assets), then the Committee may (but will have no obligation to) adjust any Awards outstanding (including any terms and conditions of Awards or any formula for determining the value of any Award) in a manner that the Committee deems appropriate to prevent the enlargement or dilution of the intended rights of the applicable Participant(s), and no such adjustment will be deemed an amendment to any Award or this Plan that is subject to ARTICLE 10 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Except as expressly determined by the Committee pursuant to this Section 4.3 or in the applicable Award Agreement, no Participant will have any additional rights under this Plan by reason of any transaction or event described in this Section 4.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 <u>Annual Limit on Non-Employee Director Compensation</u>. In each calendar year during any part of which this Plan is in effect, a Non-Employee Director may not receive Awards for service on the Board that, taken together with any cash fees paid to such Non-Employee Director during such calendar year for such individual's service on the Board, have a value in excess of US$750,000 (or US$1,000,000 in a Non-Employee Director's first year of service (calculating the value of any such Awards based on the grant date fair value of such Awards for financial reporting purposes)); <u>provided</u>, that for any calendar year in which a Non-Employee Director (i) serves on a special committee of the Board or (ii) serves as lead director or non-executive chair of the Board, additional compensation may be provided to such Non-Employee Director in excess of such limit with respect to such Non-Employee Director; <u>provided</u>, <u>further</u>, that the limit set forth in this Section 4.4 will apply without regard to Awards or other compensation, if any, provided to a Non-Employee Director during any period in which such individual was an employee of the Company or any Affiliate or was otherwise providing services to the Company or to any Affiliate other than in the capacity as a Non-Employee Director.

ARTICLE V.

GENERALLY APPLICABLE TERMS OF AWARDS AND PARTICIPATION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 <u>General Eligibility</u>. All current and prospective Eligible Individuals are eligible to receive Awards as the Committee determines. No Eligible Individual is entitled to any automatic grant of Awards. In addition to any other terms and conditions in the applicable Award Agreement, the right to vest, exercise and receive Shares, cash, or other property in settlement of, Awards granted to a prospective Eligible Individual are conditioned upon such individual's commencement of service as an Eligible Employee, Consultant, or Non-Employee Director, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 <u>Terms and Conditions of Awards</u>. Each Award will be evidenced by, and subject to, an Award Agreement and will be subject to the terms, conditions, and limitations in this Plan. Awards may be granted alone or in addition to, or in tandem with, other Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 <u>Vesting, Exercisability, and Settlement</u>. The Committee will determine and set forth in the applicable Award Agreement at the time of grant the terms (including performance-vesting terms), conditions, and periods for vesting into, forfeiting, and if applicable, exercise or settlement of, each Award, and the Committee may, but is not required to, provide for an acceleration of vesting and, if applicable, exercisability upon the occurrence of one or more specified events.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 <u>Non-Transferability</u>. Participants may not transfer Awards other than by will or by the laws of descent and distribution, and Awards subject to exercise may not be exercised during the Participant's lifetime other than by the Participant. Notwithstanding the foregoing, the Committee may determine that an Award that is otherwise not transferable pursuant to this Section 5.4 may be transferred to a Family Member of the Participant in whole or in part. An Award that is transferred to a Family Member pursuant to the preceding sentence (a) may not be subsequently transferred other than by will or by the laws of descent and distribution and (b) remains subject to the terms of this Plan and the applicable Award Agreement as if retained by the original grantee. A Participant may not transfer any Shares issued in respect of any Award until such shares vest in accordance with the terms of the applicable Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 <u>No Rights as a Shareholder</u>. No Participant will have any rights as a shareholder in respect of Shares subject to any Award, including, without limitation, the right to receive dividends, the right to vote such Shares, and the right to tender such shares, unless and until the Company issues or delivers such Shares to the Participant and all other terms and conditions hereunder are satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6 <u>Deferral of Awards</u>. The Committee may establish one or more programs under this Plan to permit selected Participants the opportunity to elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other event Award. The Committee may establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or other earnings, if any, on amounts, Shares, or other consideration so deferred, and such other terms, conditions, rules, and procedures that the Committee deems advisable for the administration of any such deferral program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7 <u>Non-Exempt Employees</u>. No Stock Option, whether or not vested, granted to a Participant who is a non-exempt employee for purposes of the Fair Labor Standards Act of 1938, as amended, will be first exercisable for any Shares until at least six months following the date of grant of such Award. Notwithstanding the foregoing, in accordance with the provisions of the Worker Economic Opportunity Act, any vested portion of such Award may be exercised earlier than six months following the date of grant of such Award in the event of (i) such Participant's death or Disability, (ii) a corporate transaction in which such Award is not assumed, continued, or substituted, (iii) a Change in Control, or (iv) such Participant's retirement (as such term may be defined in the Award Agreement or another applicable agreement between the Participant and the Company or one of its Affiliates or, in the absence of any such definition, in accordance with the Company's then-current employment policies and guidelines). This Section 5.7 is intended to operate so that any income derived by a non-exempt employee in connection with the exercise or vesting of a Stock Option will be exempt from his or her regular rate of pay.

ARTICLE VI.

STOCK OPTIONS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 <u>Stock Option Designation</u>. The applicable Award Agreement evidencing a Stock Option must designate such Stock Option as either an Incentive Stock Option or a Non-Qualified Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 <u>Exercise Price</u>. The Committee will determine the exercise price per Share of each Stock Option at the time of grant, and the per-Share exercise price may not be less than 100% (or, in the case of an Incentive Stock Option granted to a Ten-Percent Shareholder, 110%) of the Fair Market Value on the date of grant. Notwithstanding the foregoing, the per-Share exercise price of a Stock Option that is a Substitute Award may be less than the Fair Market Value on the date of grant, provided that such exercise price is determined in a manner consistent with Section 409A, or Section 7(1.4) of the *Income Tax Act* (Canada), as applicable, and, if applicable, Section 424(a) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 <u>Exercise Period</u>. The Committee will determine the length of the exercise period of each Stock Option at the time of grant, and such exercise period may not extend beyond ten years (or, in the case of an Incentive Stock Option granted to a Ten-Percent Shareholder, five years) after the grant date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 <u>Exercisability</u>. Unless otherwise determined by the Committee, if the exercise of a Non-Qualified Stock Option within the permitted time periods is prohibited because such exercise would violate Applicable Law, the Company's insider trading policy (including any blackout periods), or a "lock-up" agreement entered into in connection with the issuance of securities by the Company, then the expiration of exercise period will extend until the date that is 30 calendar days after the end of the period during which such prohibition exists, but in no event beyond the original term of such Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 <u>Method of Exercise</u>. To the extent vested and exercisable and not subject to any prohibition on exercise contemplated by Section 6.4, a Participant may exercise any Stock Option in whole or in part at any time during its term by giving written notice of exercise (which may be electronic) to the Company specifying the number of Shares subject to exercise, together with payment in full of the exercise price (which will equal the product of such number of Shares to be purchased multiplied by the applicable per-Share exercise price). The Participant must deliver such notice and pay the exercise price and applicable tax withholdings per Section 12.4 on such terms and conditions as the Company determines from time to time or as set forth in the applicable Award Agreement. Without limiting the foregoing, the Committee may establish payment terms for the exercise of Stock Options pursuant to which the Company may withhold a number of Shares that would otherwise be issued to the Participant in connection with the exercise of the Stock Option having a Fair Market Value on the date of exercise equal to the exercise price, or that permit the Participant to deliver cash or Shares with a Fair Market Value equal to the exercise price on the date of payment, or through a simultaneous sale through a broker of Shares acquired on exercise, all to the extent permitted by Applicable Law. The Company will not issue any Shares without payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 <u>Termination</u>. Unless the Committee determines otherwise at the time of grant or, if no rights of the Participant are materially impaired, thereafter, and subject to the provisions of the applicable Award Agreement, Stock Options will remain exercisable following a Participant's Termination of Service as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Termination by Death or Disability</u>. If a Participant's Termination of Service is by reason of death or Disability, all Stock Options that are held by such Participant that are vested and exercisable at the time of the Participant's Termination of Service may be exercised by the Participant (or in the case of the Participant's death, by the legal representative of the Participant's estate) at any time within a period of one year from the date of such Termination of Service, but in no event beyond the expiration of the stated term of such Stock Options; <u>provided</u>, <u>however</u>, that in the event of a Participant's Termination of Service by reason of Disability, if the Participant dies within such exercise period, all unexercised Stock Options held by such Participant will thereafter be exercisable, to the same extent to which they were exercisable at the time of death, for a period of one year from the date of such death, but in no event beyond the expiration of the stated term of such Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Involuntary Termination Without Cause</u>. If a Participant's Termination of Service is by involuntary termination by the Company without Cause, all Stock Options that are held by such Participant that are vested and exercisable at the time of the Participant's Termination of Service may be exercised by the Participant at any time within a period of 90 days from the date of such Termination of Service, but in no event beyond the expiration of the stated term of such Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Voluntary Resignation</u>. If a Participant's Termination of Service is voluntary (other than a voluntary termination described in Section 6.6(d)), all Stock Options that are held by such Participant that are vested and exercisable at the time of the Participant's Termination of Service may be exercised by the Participant at any time within a period of 90 days from the date of such Termination of Service, but in no event beyond the expiration of the stated term of such Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Termination for Cause</u>. If a Participant's Termination of Service (i) is for Cause or (ii) is a voluntary Termination of Service (as provided in Section 6.6(c)) after the occurrence of an event that would be grounds for a Termination of Service for Cause, all Stock Options, whether vested or not vested, that are held by such Participant will thereupon immediately terminate and expire as of the date of such Termination of Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Unvested Stock Options.</u> Stock Options that are not vested as of the date of a Participant's Termination of Service for any reason will terminate and expire as of the date of such Termination of Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 <u>Incentive Stock Option Limitations</u>. Notwithstanding anything herein to the contrary, only Eligible Employees who are employees of the Company, its Parents, or its Subsidiaries are eligible to receive Incentive Stock Options. To the extent that the aggregate Fair Market Value (determined as of the time of grant) of the Shares with respect to which Stock Options are exercisable for the first time by an Eligible Employee during any calendar year under this Plan or any other stock option plan of the Company, any Parent, or any Subsidiary exceeds $100,000, such Stock Options will be treated as Non-Qualified Stock Options without regard to whether the Award Agreement designates them as Incentive Stock Options. In addition, if an Eligible Employee does not remain employed by the Company, any Parent, or any Subsidiary at all times from the time a Stock Option is granted until three months prior to the date of exercise thereof (or such other period as required by Applicable Law), such Stock Option will be treated as a Non-Qualified Stock Option without regard to whether the Award Agreement designates it as an Incentive Stock Option. Should any provision of this Plan not be necessary in order for the Stock Options to qualify as Incentive Stock Options, or should any additional provisions be required, the Committee may amend this Plan accordingly without the necessity of obtaining the approval of the shareholders of the Company. To the extent that any Stock Option does not qualify as an Incentive Stock Option (whether because of its provisions or the time or manner of its exercise or otherwise), such Stock Option or the portion thereof that does not so qualify will constitute a separate Non-Qualified Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8 <u>Modification, Extension, and Renewal of Stock Options</u>. The Committee may (i) modify, extend, or renew outstanding Stock Options (provided that the rights of a Participant are not materially impaired without such Participant's consent and provided further that such action does not subject the Stock Options to Section 409A), and (ii) accept the surrender of outstanding Stock Options and authorize the granting of new Stock Options in substitution therefor. Notwithstanding the foregoing, the Committee may not modify any outstanding Stock Option to reduce its exercise price or substitute a surrendered Stock Option with a new Stock Option with a lower exercise price (other than in connection with adjustments or substitutions in accordance with ARTICLE IV), unless such action is approved by the shareholders of the Company or if such outstanding Stock Option is subject to Section 7 of the *Income Tax Act* (Canada), any such exchange of Stock Options is implemented in a manner consistent with Section 7(1.4) of *Income Tax Act* (Canada).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9 <u>Automatic Exercise</u>. The Committee may include a provision in an Award Agreement providing for the automatic exercise of a Non-Qualified Stock Option (other than a Non-Qualified Stock Option that is subject to Section 7 of the *Income Tax Act* (Canada)) on a cashless basis on the last day of the term of such Stock Option, to the extent then exercisable, if the Participant has failed to exercise the Stock Option as of such date, and if the Fair Market Value of the Shares underlying the Stock Option exceeds the exercise price of such Stock Option on the date of expiration, subject to Section 12.4.

ARTICLE VII.

RESTRICTED STOCK UNITS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 <u>Restricted Stock Units</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Settlement</u>. The Committee may provide that settlement of Restricted Stock Units will occur upon or as soon as reasonably practical after the Restricted Stock Units vest or will instead be deferred, on a mandatory basis or at the Participant's election, in a manner intended to comply with Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Dividend Equivalent Rights</u>. If the Committee so provides, a grant of Restricted Stock Units may provide a Participant with Dividend Equivalent Rights. Dividend Equivalent Rights may be paid to the Participant currently or credited to an account for the Participant, settled in cash or Shares, and subject to the same restrictions on transferability and vesting conditions as the Restricted Stock Units to which the Dividend Equivalent Rights relate and subject to other terms and conditions as set forth in the Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Termination</u>. Unless the Committee determines otherwise at the time of grant or, if no rights of the Participant are materially impaired, thereafter, and subject to the provisions of the applicable Award Agreement, all Restricted Stock Units that are not vested as of the Participant's Termination of Service for any reason will be forfeited without payment to the Participant or to any other Person.

ARTICLE VIII.

OTHER STOCK-BASED

The Committee is authorized to cause the Company to grant to Eligible Individuals Other Stock-Based Awards that are payable in, valued in whole or in part by reference to, or otherwise based on or related to Shares, including but not limited to, Shares awarded purely as a bonus and not subject to restrictions or conditions, Shares in payment of the amounts due under an incentive or performance plan sponsored or maintained by the Company, stock equivalent units, and Awards valued by reference to the book value of Shares.

ARTICLE IX.

CHANGE IN CONTROL PROVISIONS

Upon a Change in Control, and except as otherwise provided by the Committee in an Award Agreement or any applicable employment agreement, offer letter, consulting agreement, change in control agreement, or similar agreement in effect between the Company or an Affiliate and the Participant, a Participant's unvested Awards will not vest automatically and will be treated in accordance with one or more of the following methods as determined by the Committee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 <u>Assumption</u>. Awards, whether or not then vested, will be continued, be assumed, or have new rights substituted therefor, in a manner consistent with the requirements of Section 409A or Section 7(1.4) of the *Income Tax Act* (Canada), as applicable, and any applicable vesting or other restrictions will not lapse, upon the Change in Control, and the Award will receive the Change in Control consideration consistent with the other shareholders on such terms as determined by the Committee; provided, that the Committee may decide to award additional Awards in lieu of any cash distribution. Notwithstanding anything to the contrary herein, for purposes of Incentive Stock Options, any assumed or substituted Stock Option must comply with the requirements of Treasury Regulation Section 1.424-1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 <u>Settlement and Cancellation</u>. Awards may be settled by the Company for an amount of cash equal to the excess (if any) of the Change in Control Price of the Shares covered by such Awards over the aggregate exercise price of such Awards (if applicable); provided, however, that if the exercise price of a Stock Option exceeds the Change in Control Price, such Award may be canceled for no consideration; provided, further, that with respect to any Award subject to Section 7 of the *Income Tax Act* (Canada), any settlement of such Award in cash shall require the surrender by of such Award by the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 <u>Termination</u>. The Committee may terminate all outstanding and unexercised Awards subject to exercise, effective as of the closing date of the Change in Control, by delivering notice of termination to each Participant at least 20 days prior to such closing date, in which case during the period from the date on which such notice of termination is delivered to such closing date, each such Participant will have the right to exercise in full all of such Participant's Awards that are then outstanding (without regard to any limitations on exercisability otherwise contained in the Award Agreements), but any such exercise will be contingent on the closing of the Change in Control, and if the Change in Control does not close within a specified period after giving such notice for any reason whatsoever, the notice and exercise pursuant thereto will be null and void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 <u>Vesting Acceleration</u>. Notwithstanding any other provision herein to the contrary, the Committee may, in its sole discretion, provide for accelerated vesting or lapse of restrictions, of an Award at any time.

ARTICLE X.

TERMINATION OR AMENDMENT OF PLAN

Notwithstanding any other provision of this Plan, the Board or the Committee may at any time, and from time to time, amend, in whole or in part, any or all of the provisions of this Plan (including any amendment deemed necessary to ensure that Plan complies with Applicable Law), or suspend or terminate it entirely, retroactively or otherwise; <u>provided</u>, <u>however</u>, that, unless otherwise required by Applicable Law or specifically provided herein, the rights of a Participant with respect to Awards granted prior to such amendment, suspension, or termination may not be materially impaired without the consent of such Participant and, <u>provided</u>, <u>further</u>, that without the approval of the holders of the Shares entitled to vote in accordance with Applicable Law, no amendment may (a) increase the aggregate number of Shares issuable under this Plan (except by operation of Section 4.1); (b) change the classification of individuals eligible to receive Awards; (c) reduce the exercise price of any Stock Option; (d) grant any new Stock Option or other Award subject to exercise in substitution for, or upon the cancellation of, any previously granted Award that has the effect of reducing the exercise price thereof; (e) exchange any Stock Option for Shares, cash, or other consideration when the exercise price per Share under such Stock Option exceeds the Fair Market Value of a Share; or (f) take any action that would be considered a "repricing" of a Stock Option under the applicable listing standards of the national exchange on which the Shares are listed (if any). Notwithstanding anything herein to the contrary, the Board or the Committee may amend this Plan or any Award Agreement at any time without a Participant's consent to comply with Applicable Law. The Committee may amend the terms of any Award theretofore granted, prospectively or retroactively, but, subject to ARTICLE IV or as otherwise specifically provided herein, no such amendment or other action by the Committee may materially impair the rights of any Participant without the Participant's consent.

ARTICLE XI.

UNFUNDED STATUS OF PLAN

This Plan is intended to constitute an "unfunded" plan for incentive and deferred compensation. With respect to any payment as to which a Participant has a fixed and vested interest but that is not yet made to a Participant by the Company, nothing contained herein will give any such Participant any right that is greater than those of a general unsecured creditor of the Company.

ARTICLE XII.

GENERAL PROVISIONS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 <u>Lock-Up; Legend</u>. The Committee may require each person receiving Shares pursuant to an Award to represent to and agree with the Company in writing that the Participant is acquiring the Shares without a view to distribution thereof. The Company may, in connection with registering the offering of any Company securities under the Securities Act, prohibit Participants from directly or indirectly selling or otherwise transferring any Shares or other Company securities during any period determined by the underwriter or the Company. In addition to any legend required by this Plan, the certificates for such Shares may include any legend that the Committee deems appropriate to reflect any restrictions on transfer. All certificates for Shares delivered under this Plan will be subject to such stop-transfer orders and other restrictions as the Committee may deem advisable under Applicable Law, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. If the Shares are held in book-entry form, then the book-entry will indicate any restrictions on such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2 <u>Other Plans</u>. Nothing contained in this Plan prevents the Board from adopting other or additional compensation arrangements, subject to shareholder approval if such approval is required, and such arrangements may be either generally applicable or applicable only in specific cases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3 <u>No Right to Continued Service</u>. Neither this Plan nor the grant of any Award hereunder gives any Participant or other employee, Consultant, or Non-Employee Director any right to continued employment or service with the Company or any Affiliate or limits the Company or any Affiliate in any way to terminate such employment, consultancy, or directorship at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4 <u>Withholding of Taxes</u>. Each Participant is required to pay to the Company or one of its Affiliates, as applicable, or make arrangements satisfactory to the Company regarding the payment of all income tax, social insurance contributions, and other applicable taxes that are required to be paid by the Participant in respect of an Award. The Committee may (but is not obligated to), in its sole discretion, permit or require a Participant to satisfy all or any portion of the applicable taxes that are required to be withheld with respect to an Award by (a) the delivery of Shares (which are not subject to any pledge or other security interest) that have been both held by the Participant and vested for at least six months (or such other period as established from time to time by the Committee in order to avoid adverse accounting treatment under applicable accounting standards) having an aggregate Fair Market Value equal to such withholding liability (or portion thereof), (b) having the Company withhold from the Shares otherwise issuable or deliverable to, or that would otherwise be retained by, the Participant upon the grant, exercise, vesting, or settlement of the Award, as applicable, a number of Shares with an aggregate Fair Market Value equal to the amount of such withholding liability, or (c) by any other means specified in the applicable Award Agreement or otherwise determined by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.5 <u>Fractional Shares</u>. No fractional Shares may be issued or delivered pursuant to this Plan. The Committee will determine whether cash, additional Awards, or other securities or property will be used or paid in lieu of fractional Shares or whether any fractional shares should be rounded, forfeited, or otherwise eliminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.6 <u>No Assignment of Benefits</u>. No Award or other benefit payable under this Plan will, except as otherwise specifically provided in this Plan or under Applicable Law or permitted by the Committee, be transferable in any manner, and any attempt to transfer any such benefit will be void, and no such benefit will in any manner be liable for or subject to the debts, contracts, liabilities, engagements, or torts of any person who is entitled to such benefit, nor will it be subject to attachment or legal process for or against such person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.7 <u>Clawbacks; Detrimental Conduct</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Clawbacks</u>. All Awards, and all payments, benefits, and realizations with respect thereto, will be subject to clawback, cancellation, recoupment, rescission, payback, reduction, or other similar action in accordance with any clawback or similar policy of the Company or any Affiliate or any Applicable Law. A Participant's acceptance of an Award will constitute the Participant's acknowledgement of and consent to the Company's or its Affiliate's application, implementation, and enforcement of any clawback or similar policy of the Company or its Affiliate that may apply to the Participant, whether adopted before or after the Effective Date or the grant date of any Award, and any Applicable Law relating to clawback, cancellation, recoupment, rescission, payback, or reduction of compensation, and the Participant's agreement that the Company may take any actions that may be necessary to effectuate any such policy or Applicable Law, without further consideration or action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Detrimental Conduct</u>. Except as otherwise determined by the Committee, notwithstanding any other term or condition of this Plan, if a Participant engages in Detrimental Conduct, whether during or after the Participant's service, in addition to any other penalties or restrictions that may apply under this Plan, Applicable Law, or otherwise, the Participant must forfeit or pay, or cause any permitted transferees to pay, to the Company the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any and all outstanding Awards granted to the Participant, including Awards that have become vested or exercisable,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any cash or Shares received by the Participant in connection with this Plan within the 36-month period immediately preceding the date on which the Company determines the Participant has engaged in Detrimental Conduct, less any exercise price or purchase price paid therefor, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the profit realized by the Participant from the sale, or other disposition for consideration, of any Shares received by the Participant under this Plan within the 36-month period immediately before the date the Company determines the Participant has engaged in Detrimental Conduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.8 <u>Listing and Other Conditions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Unless otherwise determined by the Committee, as long as the Shares are listed on a national securities exchange or system sponsored by a national securities association, the issuance of Shares pursuant to an Award will be conditioned upon such Shares' being listed on such exchange or system. The Company will have no obligation to issue such Shares unless and until such Shares are so listed, and the right to exercise any Stock Option or other Award with respect to such Shares will be suspended until such listing has been made effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If at any time counsel to the Company advises the Company that any sale or delivery of Shares pursuant to an Award is or may be unlawful or result in the imposition of excise taxes on the Company under Applicable Law, the Company will have no obligation to make such sale or delivery, or to make any application or to effect or to maintain any qualification or registration under the Securities Act or otherwise, with respect to Shares or Awards, and the right to exercise any Stock Option or other Award will be suspended until such sale or delivery is, based on the advice of said counsel, lawful or will not result in the imposition of excise taxes on the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Upon termination of any period of suspension under this Section 12.8, any Award affected by such suspension that has not then yet expired or terminated will be reinstated as to all Shares available before such suspension and as to Shares that would otherwise have become available during the period of such suspension, but no such suspension will extend the term of any Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) A Participant will be required to supply the Company with certificates, representations, and information that the Company requests and otherwise cooperate with the Company in obtaining any listing, registration, qualification, exemption, consent, or approval that the Committee deems necessary or appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.9 <u>Governing Law</u>. This Plan and actions taken in connection herewith are governed by, and should be construed in accordance with, the laws of the Province of British Columbia and the laws of Canada applicable therein, without reference to principles of conflict of laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.10 <u>Construction</u>. Wherever any words are used in this Plan in the masculine gender, they should be construed as though they were also used in the feminine gender in all cases where they would so apply, and wherever words are used herein in the singular form, they should be construed as though they were also used in the plural form in all cases where they would so apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.11 <u>Other Benefits</u>. No Award granted or paid out under this Plan will be deemed compensation for purposes of computing benefits under any retirement plan of the Company or its Affiliates or affect any benefit or compensation under any other plan now or subsequently in effect under which the availability or amount of benefits is related to the level of compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.12 <u>No Right to Same Benefits</u>. The provisions of Awards need not be the same with respect to each Participant, and Awards to individual Participants need not be the same as any previously granted Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.13 <u>Death/Disability</u>. The Committee may in its discretion require the transferee of a Participant to supply it with written notice of the Participant's death or Disability and to supply it with a copy of the will (in the case of the Participant's death) or such other evidence that the Committee deems necessary to establish the validity of the transfer of an Award. The Committee may also require the agreement of the transferee to be bound by all of the terms and conditions of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.14 <u>Section 16(b) of the Exchange Act</u>. The Company intends that this Plan satisfy, and be interpreted in a manner that satisfies, the applicable requirements of Rule 16b-3 so that Participants will be entitled to the benefit of Rule 16b-3, or any other rule promulgated under Section 16 of the Exchange Act, and will not be subject to short-swing liability under Section 16 of the Exchange Act with respect to Awards. Accordingly, if the operation of any provision of this Plan would conflict with the intent expressed in this Section 12.14, such provision should be interpreted or deemed amended so as to avoid such conflict.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.15 <u>Section 409A</u>. This Plan and Awards are intended to comply with or be exempt from the applicable requirements of Section 409A and should be construed and interpreted in accordance with such intent. To the extent that any Award is subject to Section 409A, it will be paid in a manner that will comply with Section 409A. Notwithstanding anything herein to the contrary, any provision in this Plan that is inconsistent with the foregoing intent will be deemed to be amended to comply with or be exempt from Section 409A as determined by the Committee, and to the extent that such provision cannot be amended to comply therewith or be exempt therefrom, such provision will be null and void. The Company will have no liability to a Participant, or any other Person, if an Award that is intended to be exempt from, or compliant with, Section 409A is not so exempt or compliant or for any action taken by the Committee or the Company, and if any amount or benefit under this Plan becomes subject to penalties under or by operation of Section 409A, responsibility for payment of such penalties will rest solely with the affected Participants and not with the Company or any Affiliate. Notwithstanding any contrary provision in this Plan or Award Agreement, any payments in respect of an Award constituting a "deferral of compensation" within the meaning of Section 409A that are otherwise required to be made under this Plan to a "specified employee" (as defined under Section 409A) as a result of such employee's separation from service will be delayed for the first six months following such separation from service (or, if earlier, until the date of death of the specified employee) and will instead be paid (in a manner set forth in the Award Agreement) upon expiration of such delay period without interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.16 <u>Data Privacy</u>. As a condition to receiving any Award, each Participant explicitly and unambiguously consents to the collection, use, and disclosure, in electronic or other form, of personal information as described in this Section 12.16 by and among, as applicable, the Company and its Affiliates, for the exclusive purpose of implementing, administering, and managing this Plan and Awards and the Participant's participation in this Plan. In furtherance of such implementation, administration, and management, the Company and its Affiliates may collect, hold, and use certain personal information about a Participant, including but not limited to the Participant's name, home address, telephone number, date of birth, social security or insurance number or other identification number, salary, nationality, job title(s), information regarding any securities of the Company or any of its Affiliates, and details of all Awards (the "**Data**"). In addition to disclosing the Data amongst themselves as necessary for the purpose of implementation, administration, and management of this Plan and Awards and the Participant's participation in this Plan, the Company and its Affiliates may each disclose the Data to any third parties assisting them in the implementation, administration, and management of this Plan and Awards and the Participant's participation in this Plan. Recipients of the Data may be located in the Participant's country or elsewhere, and the Participant's country and any given recipient's country may have different data privacy laws and protections. By accepting an Award, each Participant authorizes such recipients to receive, possess, use, retain, and disclose the Data, in electronic or other form, for the purposes of assisting the Company in the implementation, administration, and management of this Plan and Awards and the Participant's participation in this Plan, including any requisite disclosure of such Data as may be required to a broker or other third party with whom the Company or the Participant may elect to deposit any shares of Shares. The Data related to a Participant will be held only as long as is necessary to implement, administer, and manage this Plan and Awards and the Participant's participation in this Plan. A Participant may, at any time, view the Data held by the Company with respect to such Participant, request additional information about the storage and processing of the Data with respect to such Participant, recommend any necessary corrections to the Data with respect to the Participant, or refuse or withdraw the consents herein in writing, in any case without cost, by contacting the Participant's local human resources representative. The Committee may cancel the Participant's eligibility to participate in this Plan, and in the Committee's discretion, the Participant may forfeit any or all outstanding Awards if the Participant refuses or withdraws the consents described herein. For more information on the consequences of refusal to consent or withdrawal of consent, Participants may contact their local human resources representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.17 <u>Successor and Assigns</u>. This Plan is binding on all successors and permitted assigns of a Participant, including, without limitation, the estate of such Participant and the executor, administrator, or trustee of such estate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.18 <u>Severability of Provisions</u>. If any provision of this Plan are held invalid or unenforceable, such invalidity or unenforceability will not affect any other provisions hereof, and this Plan should be construed and enforced as if such provisions had not been included.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.19 <u>Headings and Captions</u>. The headings and captions herein are provided for reference and convenience only, should not be considered part of this Plan, and may not be employed in the construction of this Plan.

ARTICLE XIII.

PLAN EFFECTIVENESS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1 <u>Effective Date of Plan</u>. This Plan became effective on March 13, 2026, which is the date of its adoption by the Board, subject to the approval of this Plan by the shareholders of the Company in accordance with the shareholder voting rules applicable to the Company under Applicable Law and its organization documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2 <u>Expiration of Plan</u>. No Award may be granted pursuant to this Plan on or after the tenth anniversary of the earlier of the date on which this Plan was adopted by the Board or the date of shareholder approval, but Awards granted prior to such tenth anniversary may extend beyond that date.

**\* \* \***

**APPENDIX B**

**BLACKLINE COPY OF AMENDED AND RESTATED STOCK OPTION PLAN**

**<u>NERVGEN PHARMA CORP.</u>**

**AMENDED AND RESTATED STOCK OPTION PLAN**

Effective January 2, 2019, as amended on September 5, 2019, September 30, 2020 September 9, 2021, September 28, 2022, April 6, 2023, May 17, 2023, June 4, 2024 and, May 6, 2025 <u>and April 23, 2026</u>.

1. **INTERPRETATION** 

**1.1**  **<u>Defined Terms</u>** - For the purposes of this Stock Option Plan, the following terms shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "**Associate**" shall have the meaning ascribed to such term in the TSX Venture Exchange Corporate Finance Manual,
as amended from time to time.

(b) "**Board** "
means the Board of Directors of the Corporation.

(c) "**California Option**" has the meaning ascribed to such term in Section 17 of this Plan.

(d) "**Change in Control**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a takeover bid (as defined in the British Columbia *Securities Act*), which is successful in acquiring a majority of the outstanding
Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the election by the Shareholders of less than a majority of the individuals nominated for election as directors of the Corporation
by management of the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the sale of all or substantially all the assets or business of the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the sale, exchange or other disposition by one or more Persons formerly controlling the Corporation of a majority of the outstanding
Shares in a single or series of related transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the dissolution of the Corporation's business or the liquidation of its assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) a merger, amalgamation or arrangement of the Corporation in a transaction or series of transactions in
which the Shareholders receive less than 51% of the outstanding shares of the new or continuing entity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the acquisition, directly or indirectly, through one transaction or a series of transactions, by any Person, of an aggregate of more
than 50% of the outstanding Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "**Committee**" means the Compensation Committee appointed by the Board, or if no such committee is appointed, the
Board itself.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "**Consultant**" has the meaning ascribed in NI 45-106 and, to the extent that the meaning ascribed to such term in
the TSX Venture Exchange Corporate Finance Manual, as amended from time to time, is narrower or more restrictive in the Corporate Finance
Manual, such narrower or more restrictive provisions in such definition shall apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) "**Corporation**" means NervGen Pharma Corp., a company incorporated under the laws of British Columbia, Canada.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) "**Disability**" means a medically determinable physical or mental impairment expected to result in death or to last
for a continuous period of not less than six months which causes an individual to be unable to engage in any substantial gainful activity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) "**Disinterested Shareholder Approval**" means a resolution approved by a simple majority of the votes cast by the
Shareholders at a meeting of Shareholders, excluding votes attaching to the Shares beneficially owned by Insiders of the Corporation to
whom Options may be issued and Associates of those Persons.

(j) "**Effective Date**" means the effective date of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) "**Eligible Persons**" means an employee, Executive Officer or director of or Consultant to the Corporation or any
Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) "**Exchange Hold Period**" means a four month resale restriction period imposed by the TSX Venture Exchange.

(m) "**Executive Officer**" has the meaning ascribed to such term in NI 45-106.

(n) "**Fair Market Value**" as of a given date means, where the Shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) are listed for trading on a stock exchange or over the counter market, the last closing price of a board lot of the Shares before
such date on the stock exchange or over the counter market which is the principal trading market for the Shares, as may be determined
for such purpose by the Committee; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) are not so listed for trading, the fair market value of the Shares on such date as determined by the Committee in good faith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) "**Grant Date**" means the date on which a grant of an Option becomes effective by the Corporation completing the actions
necessary to grant the Option and creating a legally binding right in the Optionee, including specifying the Optionee, the number of Shares
subject to the Option granted to such Optionee, and the Option Price of such Option.

(p) "**Guardian** "
means the guardian, if any, appointed for an Optionee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) "**Insider**" shall have the meaning ascribed to such term in the British Columbia Securities Act, as amended from
time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) "**Investor Relations Activities**" has the meaning ascribed in NI 45-106 and, to the extent that the meaning ascribed
to such term in the TSX Venture Exchange Corporate Finance Manual, as amended from time to time, is narrower or more restrictive in the
Corporate Finance Manual, such narrower or more restrictive provisions in such definition shall apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) "**NI 45-106**" means National Instrument 45-106 Prospectus Exemptions of the Canadian Securities Administrators and
all amendments thereto from time to time and any instrument which subsequently amends, replaces or supersedes NI 45-106.

(t) "**Option** "
means an option to purchase Shares granted pursuant to the terms of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) "**Option Agreement**" means the agreement entered into by the Optionee and the Corporation specifying the terms of
the Option being granted to the Optionee under the Plan (i) in substantially the form attached as Exhibit A hereto, (ii) in
the case of a U.S. Participant, in substantially the form attached as Exhibit B hereto, or (iii) in such other form as the Board
or Committee may approve from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) "**Option Price**" means the exercise price per Share for an Option which shall be expressed in Canadian funds or in
the United States dollar equivalent thereof.

(w) "**Optionee** "
means a Person to whom an Option has been granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) "**Person**" has the meaning ascribed to such term in NI 45-106 and, to the extent that the meaning ascribed to such
term in the TSX Venture Exchange Corporate Finance Manual, as amended from time to time, is narrower or more restrictive in the Corporate
Finance Manual, such narrower or more restrictive provisions in such definition shall apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) "**Plan**" means this Stock Option Plan of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) "**Qualified Representative**" means the executor or administrator of a deceased Optionee duly authorized or appointed
by a court or public authority having jurisdiction to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) "**Share Compensation Arrangement**" means any
stock option, stock option plan, employee stock purchase plan, share distribution plan or any other compensation or incentive mechanism
of the Corporation involving the issuance or potential issuance of Shares to any director, officer or employee of or Consultant to the
Corporation or any of its subsidiaries, including a Share purchase from treasury which is financially assisted by the Corporation by
way of a loan, guaranty or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) "**Shareholder**" means a holder of Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) "**Shares**" means the common shares in the capital
of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) "**Subsidiary**" means a Person controlled by
the Corporation directly, or indirectly through one or more intermediates, and more than 50% of whose outstanding securities representing
the right, other than as affected by events of default, to vote for the election of directors, is owned by the Corporation and/or one
or more of the Corporation's other Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) "**Term**" means the period of time during which
an Option may be exercised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) "**U.S.**" means the United States of America,
its territories and possessions and the District of Columbia.

**2.** **STATEMENT OF PURPOSE** 

**2.1**  **<u>Principal Purposes</u>** - The principal purposes of
the Plan are to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) provide the Corporation with the advantages of the incentive inherent in share ownership on the part of those responsible for the
continued success of the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) create in those individuals a proprietary interest in, and a greater concern for, the welfare and success of the Corporation; to encourage
such individuals to remain with the Corporation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) attract new talent to the Corporation.

**2.2**  **<u>Benefit to Shareholders</u>** - The Plan is expected to benefit Shareholders by enabling the Corporation
to attract and retain personnel of the highest caliber by offering such personnel an opportunity to share in any increase in value of
the Shares resulting from their efforts.

**3.** **ADMINISTRATION** 

**3.1**  **<u>Board or Committee</u>** - Subject to the direction of the Board, the Plan shall be administered by the Committee.

**3.2**  **<u>Appointment of Committee</u>** - The Committee shall administer the Plan on behalf of the Board in accordance with such terms and conditions as the Board may prescribe,
consistent with this Plan. The Committee shall continue to administer the Plan until otherwise directed by the Board.

**3.3**  **<u>Quorum and Voting</u>** – Notwithstanding the provisions of the Committee's Charter or any resolution of the Board
respecting the Committee, for the purposes of this Plan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a majority of the members of the Committee shall constitute a quorum;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) subject to the limitations in this Section 3, all actions of the Committee arising at any meeting shall be decided by a majority
of votes; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) no member of the Committee who is a director of the Corporation or a Subsidiary to whom an Option may be granted may participate in
the decision to grant such Option (but any such member may be counted in determining the existence of a quorum at any meeting of the Committee
in which action is taken with respect to the granting of an Option to him or her).

**3.4**  **<u>Powers of Committee</u>** - Notwithstanding the provisions of the Committee's Charter or any resolution of the Board
respecting the Committee, the Committee shall have the following authority in respect of the Plan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to administer the Plan in accordance with its terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to determine all questions arising in connection with the administration,
interpretation, and application of the Plan, including all questions relating to the value of the Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to correct any defect, supply any information or reconcile any inconsistency in the Plan in such manner and to such extent as shall
be deemed necessary or advisable to carry out the purposes of the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) to prescribe, amend and rescind the rules and regulations relating to the administration of the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) to determine the duration and purpose of leaves of absence from employment which may be granted to Optionees without constituting
a termination of employment for purposes of the Plan;

(f) with
respect to the granting of Options, to make recommendations to the Board as to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Eligible Persons to whom Options shall be granted, based on the eligibility criteria set out in this Plan;

(ii) the terms and provisions
of the Option Agreement which shall be entered into with each Optionee (which need not be identical with the terms of any other Option
Agreement);

(iii) amending the terms and provisions of an Option Agreement,
provided it obtains:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the consent of the Optionee; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) the approval of any stock exchange on which the Corporation is listed, where required,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) when Options shall be granted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the number of Shares subject to each Option; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) the vesting schedule, if any, for the exercise of such Option;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) to make other determinations necessary or advisable for administration
of the Plan.

**3.5**  **<u>Approvals</u>** - The Corporation will use commercially
reasonable efforts to obtain any regulatory or Shareholder approvals which may be required pursuant to applicable securities laws or
the rules of any stock exchange or over the counter market on which the Shares are listed.

**3.6**  **<u>Administration by Committee</u>** - All determinations
made by the Committee in good faith with respect to matters referred to in Section 3.4 shall be final, conclusive and binding upon
all Eligible Persons. The Committee shall have all powers necessary or appropriate to accomplish its duties under this Plan. In addition,
the Committee's administration of the Plan shall in all respects be consistent with the policies and rules of any stock exchange
or over the counter market on which the Shares are listed.

**4.** **ELIGIBILITY** 

**4.1**  **<u>Eligibility for Options</u>** - Options shall be the
only awards issuable under the Plan and may only be granted to Eligible Persons.

**4.2**  **<u>Limitations</u>** - The grant of Options under the Plan
is subject to the following limitations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the number of Shares reserved for issuance to any one Optionee pursuant to Options in any 12 month period, when aggregated with all
Shares reserved for issuance to such Optionee under every other Share Compensation Arrangement, shall not exceed 5% of the outstanding
Shares at the Grant Date unless the Corporation has obtained Disinterested Shareholder Approval;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the aggregate number of Shares reserved for issuance to any one Consultant pursuant to Options in any 12 month period, when aggregated
with all Shares reserved for issuance to such Consultant under every other Share Compensation Arrangement, shall not exceed 2% of the
outstanding Shares at the Grant Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the aggregate number of Shares reserved for issuance to Persons employed in Investor Relations Activities pursuant to Options shall
not exceed 2% of the outstanding Shares in any 12 month period calculated at the Grant Date and Options granted to Persons employed in
Investor Relations Activities must contain vesting provisions such that the vesting occurs no earlier than over at least 12 months such
that no more than one quarter of Options vest in each of the three, six, nine and twelve-month periods following the Grant Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disinterested Shareholder Approval will be required if there is a grant of Options to Insiders of the Corporation within a 12 month
period which, when the Shares issuable under such Options are aggregated with all Shares reserved for issuance to Insiders of the Corporation
under every other Share Compensation Arrangement, exceeds 10% of the issued Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) a press release is required at the time of grant or amendment of Options to Insiders of the Corporation and Persons employed in Investor
Relations Activities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) all Options must be granted within the timeframe set forth in Section 12.3.

**4.3**  **<u>No Violation of Securities Laws</u>** - No Option shall
be granted to any Optionee unless the Committee has determined that the grant of such Option will not violate the securities law of the
jurisdiction in which the Corporation and the Optionee reside.

**4.4**  **<u>Inducement Grants</u>** – For the purposes of
this Plan, "**Share Compensation Arrangement**" shall not include any Share or Share-based compensation granted to a person
not previously employed by, and not previously an Insider of, the Corporation as an inducement pursuant to Section 6.4 of Policy
4.4 of the TSX Venture Exchange Corporate Finance Manual.

**5.** **SHARES SUBJECT TO THE PLAN** 

**5.1**  **<u>Number of Shares</u> -** The Board, based on recommendations
by the Committee, may grant Options under the Plan from time to time to purchase, when aggregated with all Shares reserved for issuance
under every other Share Compensation Arrangement, an aggregate of 14,197,529 <u>11,136,529</u> Shares. Such maximum number of Shares issuable under the Plan shall be made available from authorized, but unissued, Shares. The maximum
number of Shares issuable under the Plan shall be adjusted, where necessary, to take account of the events referred to in Section 10
hereof.

**5.2**  **<u>Expiry of Option</u> -** If an Option expires or terminates
for any reason without having been exercised in full, the unpurchased Shares subject thereto shall again be available for the purposes
of the Plan.

**5.3**  **<u>Reservation of Shares</u>** - The Corporation will at
all times reserve for issuance and keep available such number of Shares as shall be sufficient to satisfy the requirements of the Plan.

**6.** **OPTION TERMS** 

**6.1**  **<u>Option Agreement</u>** - With respect to each Option
granted to an Optionee, the following terms shall be specified in the Option Agreement between the Corporation and the Optionee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the number of Shares subject to purchase pursuant to such Option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Grant Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Term, provided that the length of the Term shall in no event be greater than 10 years following the Grant Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Option Price, provided that the Option Price shall not be less than the Fair Market Value of the Shares on the Grant Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any vesting schedule upon which the exercise of an Option is contingent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) if the Optionee is an employee or Consultant, a representation by the Corporation and the Optionee that the Optionee is a bona fide
employee or Consultant, as the case may be, of the Corporation or a Subsidiary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) such other terms and conditions as the Committee deems advisable and are consistent with the purposes of this Plan.

**6.2**  **<u>Hold Period</u>** – An Exchange Hold Period is
required, commencing on the Grant Date, for Options granted to Insiders or Consultants of the Corporation or Options granted at any discount
to Fair Market Value on the Grant Date.

**6.3**  **<u>Vesting Schedule</u>** - The Board, taking into account
the recommendations of the Committee, shall have complete discretion to set the terms of any vesting schedule for each Option granted,
including, without limitation, discretion to permit:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) partial vesting in stated percentage amounts based on the Term of such Option; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) full vesting after a stated period of time has passed from the Grant Date; provided that the vesting period for an Option shall be
in accordance with the policies of the TSX Venture Exchange at the Grant Date.

**6.4**  **<u>Amendments to Options</u>** - Amendments to the terms
of previously granted Options are subject to all required regulatory approvals. Disinterested Shareholder Approval shall be required
for any reduction in the Option Price or extension of the Term of a previously granted Option if the Optionee is an Insider of the Corporation
at the time of the proposed reduction in the Option Price or extension of the Term.

**6.5**  **<u>Amendment of Expiration of Term of Option During Black Out Period</u> -** Notwithstanding the provisions of Subsection 6.1(c) or the date of expiration of the Term determined in accordance
with this Plan ("Fixed Term"), but subject to the limitations set forth in Section 17.1, if the Fixed Term expiration
date falls within a black out period imposed on the Optionee by the Corporation, then the Fixed Term expiration date is extended to the
close of business on the 10<sup>th</sup> business day after the end of such black out period by the Corporation, without being subject
to Board or Committee discretion.

**6.6**  **<u>Uniformity</u>** - Except as expressly provided herein,
nothing contained in this Plan shall require that the terms and conditions of Options granted under the Plan be uniform.

**7.** **EXERCISE OF OPTION** 

**7.1**  **<u>Method of Exercise</u>** - Subject to any limitations
or conditions imposed upon an Optionee pursuant to the Option Agreement or Section 6 hereof, an Optionee may exercise an Option
by giving written notice thereof to the Corporation at its principal place of business. Options may not be exercised during a black out
period unless the Committee determines otherwise.

**7.2**  **<u>Compliance with U.S. Securities Laws</u>** - As a condition
to the exercise of an Option, the Committee may require the Optionee to represent and warrant in writing at the time of such exercise
that the Shares are being purchased only for investment and without any then-present intention to sell or distribute such Shares. A stop-transfer
order against such Shares may be placed on the central securities register of the Corporation, and a legend indicating that the Shares
may not be pledged, sold or otherwise transferred unless an opinion of counsel is provided stating that such transfer is not in violation
of any applicable U.S. federal and state securities laws may be endorsed on the certificates representing such Shares to ensure an exemption
from registration. The Committee also may require such other documentation as may from time to time be necessary to comply with U.S.
federal and state securities laws. The Corporation has no obligation to undertake registration of Options or the Shares issuable upon
the exercise of the Options.

**7.3**  **<u>Payment of Option Price</u>** - The notice described
in Section 7.1 shall be accompanied by full payment of the aggregate Option Price to the extent the Option is so exercised. Such
payment shall be in lawful money (Canadian funds) by certified cheque, wire transfer or, bank order <u>, <u>or in accordance with Section 7.5</u></u> .

**7.4**  **<u>Issuance of Certificates</u>** - As soon as practicable
after exercise of an Option, the Corporation shall issue a certificate or certificates evidencing the Shares with respect to which the
Option has been exercised. Until the issuance of such certificate or certificates, no right to vote or receive dividends or any other
rights as a Shareholder shall exist with respect to such Shares, notwithstanding the exercise of the Option. No adjustment will be made
for a dividend or other right for which the record date is prior to the date the certificate is issued, except as provided by Section 10
hereof.

<u>**<u>7.5</u>**</u> <u>**<u>Net Exercise or Cashless Exercise</u>** - Subject to the provisions of the Plan (including, without limitation, Section 16.8) and prior approval of the Committee, an Optionee may elect to exercise a vested Option on a cashless basis (a "**Cashless Exercise**") by either: (a) a "net exercise" procedure in which the Corporation issues to the Optionee, the number of Shares (rounded down to the nearest whole number) equal to the number determined by dividing (i) the product of the number of Options being exercised multiplied by the difference between (A) the Fair Market Value of the underlying Shares and (B) the exercise price of the subject Options plus, if agreed by the Optionee and the Committee, an amount equal to all applicable withholding taxes and other deductions payable in respect of the subject Options as determined by the Corporation by (ii) the Fair Market Value of the underlying Shares; or (b) a broker assisted "sell-to-cover exercise" in which the Corporation delivers irrevocable instructions to a broker engaged for such purposes by the Corporation to sell the Shares, on behalf of the Optionee, otherwise deliverable upon the exercise of the Options and to deliver promptly to the Corporation an amount equal to the exercise price and all applicable required withholding obligations as determined by the Corporation against delivery of the Shares to settle the applicable trade, with any excess cash amount related to such broker-assisted sale of Shares being payable to the Optionee. Subject to the Committee's approval, an Option may be exercised pursuant to this Section 7.5 from time to time by an Optionee delivering to the Corporation, a (i) written notice of exercise specifying that the Optionee desires to effect such Cashless Exercise of such Option in accordance with this Section 7.5, and the number of Options to be exercised under such Cashless Exercise, and (ii) the payment of an amount for any tax withholding or remittance obligations of the Optionee or the Corporation or any Subsidiary arising under applicable law and verified by the Corporation to its satisfaction (or by entering into some other arrangement acceptable to the Corporation in its discretion, if any, or by fulfilling the applicable withholding obligations through the mechanics contemplated by paragraphs (a) or (b) of this Section 7.5, as applicable). Thereafter, and subject to the Committee's approval, the Corporation will process the exercise on a net exercise or sell-to-cover exercise basis as determined by the Corporation in its sole discretion. The Optionee shall comply with Section 16.8 of this Plan with regard to any applicable required withholding obligations and with such other procedures and policies as the Corporation may prescribe or determine to be necessary or advisable from time to time including prior written consent of the Committee in connection with such exercise.</u> 

**8.** **TRANSFERABILITY OF OPTIONS** 

**8.1**  **<u>Non-Transferable</u>** - Except as provided otherwise in this Section 8, or by applicable securities laws, Options are
non-assignable and non-transferable and during an Optionee's lifetime may only be exercised by the Optionee.

**8.2**  **<u>Death of Optionee</u>** - If an Optionee dies, any Options held by such Optionee shall thereafter be exercisable, to the extent
exercisable, up to one year from the date of the Optionee's death, by the Qualified Representative.

**8.3**  **<u>Disability of Optionee</u>** - If the employment of an Optionee as an employee of or Consultant to the Corporation or any
Subsidiary or the position of an Optionee as a director or Executive Officer of the Corporation or any Subsidiary, is terminated by reason
of such Optionee's Disability, and a Guardian has been appointed with respect to such Optionee, any Option held by such Optionee
shall be exercisable, to the extent exercisable, by such Optionee, or on behalf of such Optionee by his Guardian.

**8.4**  **<u>Unanimous Agreement</u>** - If two or more Persons constitute the Qualified Representative or
the Guardian of an Optionee, the rights of such Qualified Representative or such Guardian shall be exercisable only upon the unanimous
agreement of such Persons.

**9.** **TERMINATION OF OPTIONS** 

**9.1**  **<u>Termination of Options</u>** - To the extent not earlier exercised or terminated in accordance with Section 8 above,
an Option shall terminate at the earliest of the following dates:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the expiry date specified for such Option in the Option Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) where the Optionee's position as an employee, a director or an Executive Officer of or a Consultant to the Corporation or any
Subsidiary is terminated for just cause, the date of such termination for just cause;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u><u>subject to the terms of any Option Agreement,</u></u> where the Optionee's position as an
employee, a director or an Executive Officer of or a Consultant to the Corporation or any Subsidiary (other than a Person employed to
provide Investor Relations Activities), terminates for a reason other than the Optionee's death, or termination for just cause,
90 days after such date of termination, or in the case of a person employed to provide Investor Relations Activities, 30 days after such
termination but:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if an Optionee's position changes from one of the said categories to another category, such change shall not constitute termination
for the purpose of this Subsection 9.1(c);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) upon the Optionee, or Guardian of an Optionee, as applicable, making written application to the Board or the Committee and receiving
the written consent of the Board or the Committee, which consent may be given at the discretion of the Board or the Committee, at such
later date as determined by the Board or the Committee which must be no later than the original expiry date of such Option when it was
granted and the first anniversary of the Optionee's termination; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the date of any sale, transfer, assignment or hypothecation, or any attempted sale, transfer, assignment or hypothecation, of such
Option in violation of Section 8.1 above.

**9.2**  **<u>Vesting</u> -** Subject to the Board's right under
Section 10.4 <u>and subject to the terms of any Option Agreement</u>, if an Optionee is terminated in circumstances described in Subsection 9.1(c), then:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any Options granted to such Optionee prior to June 4, 2024 shall, during the 90 day or 30 day period (as applicable) prior to
the termination of the Option, continue to vest in accordance with any vesting schedule to which such Option is subject; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any Options granted to such Optionee on or after June 4, 2024 that remain unvested as of the date of the Optionee's termination
shall be immediately cancelled.

**9.3**  **<u>Deemed Non-Interruption of Employment</u>** - Employment
or engagement shall be deemed to continue intact during any military or sick leave or other *bona fide* leave of absence if the
period of such leave does not exceed 90 days or, if longer, for so long as the Optionee's right to reemployment with the Corporation
or any Subsidiary is guaranteed either by statute or has been agreed upon by contract. If the period of such leave exceeds 90 days and
the Optionee's reemployment is not so guaranteed or agreed upon by contract, then his or her employment shall be deemed to have
terminated on the 91<sup>st</sup> day of such leave.

**9.4**  **<u>Lapsed Options</u>** - If Options expire or are surrendered
or otherwise terminated without being exercised in whole or in part, new Options may be granted covering the Shares not purchased under
such Options. If an Option has been surrendered and a new Option has been granted to the same Optionee on different terms than the surrendered
Option, then the new Option is subject to acceptance by the TSX Venture Exchange, if applicable.

**10.** **ADJUSTMENTS TO OPTIONS** 

**10.1**  **<u>Alteration in Capital Structure</u> -** If there is
a material alteration in the capital structure of the Corporation resulting from a share subdivision or consolidation, recapitalization,
stock dividend, combination, reclassification or otherwise, or other distribution of the Corporation's equity securities without
the receipt of consideration by the Corporation, the Committee shall make, subject to prior TSX Venture Exchange acceptance if applicable,
such adjustments to this Plan and to the Options then outstanding under this Plan as the Committee determines to be appropriate and equitable
under the circumstances, so that the proportionate interest of the holder of each such Option shall, to the extent practicable, be maintained
as before the occurrence of such event. Such adjustments may include, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a change in the number or kind of shares of the Corporation covered by such Options; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a change in the Option Price payable but the aggregate Option Price applicable to the unexercised portion of existing Options shall
not be altered, it being intended that any adjustments made with respect to such Options shall apply only to the price per Share and the
number of Shares subject thereto.

For purposes of this Section 10.1, neither (i) the issuance of additional Shares in exchange for adequate consideration (including services), nor (ii) the conversion of outstanding preferred shares of the Corporation into Shares shall be deemed to be material alterations of the capital structure of the Corporation.

**10.2**  **<u>Corporate Reorganization</u> -** In the event of a reorganization
as defined in this Section 10.2 in which the Corporation is not the surviving or acquiring corporation, or in which the Corporation
is or becomes a wholly-owned subsidiary of another corporation after the effective date of the reorganization, any Shares receivable
on the exercise of an Option shall be converted into the securities, property or cash which the Optionee would have received upon such
reorganization if the Optionee had exercised his Option immediately prior to the record date applicable to such reorganization, and the
Option Price shall be adjusted proportionately by the Board and such adjustment shall be binding for all purposes of the Plan, subject
to prior TSX-Venture Exchange acceptance. For purposes of this Section 10.2, "reorganization" shall mean any statutory
merger, plan of arrangement, statutory consolidation, sale of all or substantially all of the assets of the Corporation, or sale, pursuant
to an agreement with the Corporation, of securities of the Corporation pursuant to which the Corporation is or becomes a wholly-owned
subsidiary of another company after the effective date of the reorganization.

**10.3**  **<u>Acceleration on Change of Control</u>** - Upon a Change
in Control, all Options shall become immediately exercisable, subject to prior written approval of the TSXV if applicable, notwithstanding
any contingent vesting provisions to which such Options may have otherwise been subject. To the extent possible, the Committee shall
give notice to Optionees of a Change in Control not less than 30 days in advance thereof.

**10.4**  **<u>Acceleration of Date of Exercise</u>** - The Board,
on the recommendation of the Committee, subject to prior written approval of the TSXV if applicable, shall have the right to accelerate
the date of vesting of any installment of any Option which remains unvested.

**10.5**  **<u>Determinations to be Made</u>** - Adjustments and determinations
under this Section 10 shall be made by the Board, on the recommendation of the Committee, and the Board's decisions as to
the adjustments or determinations which shall be made, and the extent thereof, shall be final, binding, and conclusive.

**10.6**  **<u>Effect of a Take-over</u>** - If a *bona fide* offer
(the "**Offer**") for Shares is made to an Optionee or to Shareholders generally or to a class of Shareholders which includes
the Optionee, which Offer constitutes a take-over bid within the meaning of section 92 of the British Columbia *Securities Act,* as
amended from time to time, the Corporation shall, immediately upon receipt of notice of the Offer, notify each Optionee of full particulars
of the Offer, whereupon any Option held by an Optionee may be conditionally exercised in whole or in part by the Optionee so as to permit
the Optionee to tender the Shares received upon such exercise (the "**Optioned Shares**") to the Offer conditioned upon
completion of the Offer within the specified time. If:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Offer is not completed within the time specified therein; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all of the Optioned Shares tendered by the Optionee pursuant to the Offer are not taken up and paid for by the offeror pursuant thereto;

the Optioned Shares or, in the case of clause (b) above, the Optioned Shares that are not taken up and paid for, may be returned by the Optionee to the Corporation and reinstated as authorized but unissued shares and with respect to such returned Optioned Shares, the Option shall be reinstated as if it had not been exercised. If any Optioned Shares are returned to the Corporation under this Section, the Corporation shall refund the aggregate Option Price to the Optionee paid for such Optioned Shares.

**11.** **TERMS AND CONDITIONS OF OPTIONS GRANTED TO U.S. PARTICIPANTS** 

**11.1** This Section 11 applies only to U.S. Participants. In this
Section 11, the following words and phrases shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "**Code**" means the U.S. Internal Revenue Code of 1986, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "**Disability**" means, with respect to any U.S. Participant, that such U.S. Participant is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death
or that has lasted, or can be expected to last, for a continuous period of not less than 12 months. The preceding definition of the term
 "Disability" is intended to comply with, and will be interpreted consistently with, Sections 22(e)(3) and 422(c)(6) of
the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "**Incentive Stock Option**" means an Option that is intended to qualify as an "incentive stock option"
pursuant to section 422 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "**Non-qualified Stock Option**" means an Option that is not an Incentive Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "**Parent**" means any corporation (other than the Corporation) in an unbroken chain of corporations ending with the
Corporation, if at the time of granting the option, each of the corporations other than the Corporation owns shares possessing 50% or
more of the combined voting power of all classes of shares in one of the other corporations in such chain. The preceding definition of
the term "Parent" is intended to comply with, and will be interpreted consistently with, section 424(f) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "**Subsidiary**" means any corporation (other than the Corporation) in an unbroken chain of corporations beginning
with the Corporation, if at the time of granting the option, each corporation (other than the last corporation) in such chain owns stock
possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. The
preceding definition of the term "**Subsidiary**" is intended to comply with, and will be interpreted consistently with,
section 424(f) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) "**U.S. Employee**" means an individual who is an employee of the Corporation (or of any Subsidiary) for purposes of
section 422 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) "**U.S. Participant**" means an Optionee who is a citizen of the United States or a resident of the United States,
in each case as defined in section 7701(a)(30)(A) and section 7701(b)(1)of the Code, and such other Optionees to the extent their
Options awarded under the Plan are subject to U.S. federal income tax under the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) "**10% Shareholder**" means any Person who owns, taking into account the constructive ownership rules set forth
in section 424(d) of the Code, more than 10% of the total combined voting power of all classes of stock of the Corporation (or of
any Parent or Subsidiary).

**11.2** Notwithstanding
 any other provision of this Plan to the contrary, the aggregate number of Shares available
 for Incentive Stock Options shall not exceed 14,197,529 <u>11,136,529</u> Shares, subject to adjustment pursuant to Section 10 of this Plan and subject to the
 provisions of sections 422 and 424 of the Code.

**11.3** Each Option Agreement with respect to an Option granted to a
U.S. Participant shall specify whether the related Option is an Incentive Stock Option or a Non-qualified Stock Option. If no such specification
is made in an Option Agreement, the related Option will be a Non-qualified Stock Option.

**11.4** Except as otherwise provided in this Section 11.4, the
 Option Price will be not less than 100% of the Fair Market Value of a Share on the applicable Grant Date but (i) the Board may
 designate an Option Price below the Fair Market Value of a Share on the Grant Date if the Option is granted in substitution for a
 stock option previously granted by an entity that is acquired by or merged with the Corporation or a Subsidiary if the number of
 Shares covered by the Option and the Option Price are proportionately adjusted in a manner compliant with the Treasury Regulations
 issued under Section 409A of the Code; and (ii) the Board may grant an Option with the Option Price less than 100% of the
 Fair Market Value on the applicable Grant Date if such Option otherwise qualifies for exemption from Section 409A of the Code.

**11.5** In addition to the other terms and conditions of this Plan
 (and notwithstanding any other term or condition of this Plan to the contrary), the following limitations and requirements will apply
 to an Incentive Stock Option:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) An Incentive Stock Option may be granted only to a U.S. Employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The aggregate Fair Market Value of the Shares (determined as of the
 applicable Grant Date) with respect to which Incentive Stock Options are exercisable for
 the first time by any U.S. Participant during any calendar year (pursuant to this Plan and
 all other plans of the Corporation and of any Parent or Subsidiary) will not exceed US$100,000
 or any other limitation subsequently set forth in section 422(d) of the Code. To the
 extent that such limitation is exceeded, the options in excess of such limitation will be
 treated as Non-qualified Stock Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Option Price payable upon exercise of an Incentive Stock Option
 will be not less than 100% of the Fair Market Value of a Share on the applicable Grant Date
 but the Option Price payable upon exercise of an Incentive Stock Option granted to a U.S.
 Participant who is a 10% Shareholder on the applicable Grant Date will be not less than 110%
 of the Fair Market Value of a Share on the applicable Grant Date. Notwithstanding the foregoing,
 the Board may designate an Option Price below Fair Market Value of a Share on the Grant Date
 (or 110% of the Fair Market Value on the Grant Date, as applicable) if the Option is granted
 in substitution for a stock option previously granted by an entity that is acquired by or
 merged with the Corporation or a Subsidiary if the number of Shares covered by the Option
 and the Option Price are proportionately adjusted in a manner compliant with the Treasury
 Regulations issued under Section 424 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) No Incentive Stock Option may be granted
 more than 10 years after the earlier of (i) the date on which the Board adopts the most
 recent amendment and restatement of the Plan or (ii) the date on which the Shareholders
 approve such most recent amendment and restatement of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) An Incentive Stock Option will terminate and no longer be exercisable
 no later than the earlier of the term set by the Board and 10 years after the applicable
 Grant Date (or if the Optionee is a 10% Shareholder, five years after the applicable Grant
 Date).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) If a U.S. Participant has been granted an Incentive Stock Option and
 ceases to be a U.S. Employee, then, to retain its status as an Incentive Stock Option for
 U.S. federal tax purposes such Option must be exercised within the time limits set forth
 below. Failure to exercise such Incentive Stock Options within the following time limits
 will result in the Option ceasing to be an Incentive Stock Option. The limitations below
 are not intended to extend the Term as set forth in the applicable Option Certificate. The
 limitations below merely reflect the period during which an Option intended to be an Incentive
 Stock Option must be exercised (assuming it otherwise could be exercised during such period)
 in order retain Incentive Stock Option tax treatment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To retain its Incentive Stock Option status, an Incentive Stock Option
 of a U.S. Participant who ceases to be a U.S. Employee due to death must be exercised (to
 the extent such Incentive Stock Option was exercisable on the date of death) by the Qualified
 Representative of such U.S. Participant within one year following the date of death (but
 in no event beyond the Term of such Incentive Stock Option).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To retain its Incentive Stock Option status, an Incentive Stock Option
 of a U.S. Participant who ceases to be a U.S. Employee due to Disability must be exercised
 (to the extent such Incentive Stock Option was exercisable on the date of termination due
 to Disability) by such U.S. Participant (or the U.S. Participant's Guardian) within
 one year following the date of termination due to Disability (but in no event beyond the
 term of such Incentive Stock Option).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To retain its Incentive Stock Option status, an Incentive Stock Option
 of a U.S. Participant who ceases to be a U.S. Employee for any reason other than the death
 or Disability of such U.S. Participant or termination for Cause, such Incentive Stock Option
 must be exercised (to the extent such Incentive Stock Option was exercisable on the date
 of termination) by such U.S. Participant within three months following the date of termination
 (but in no event beyond the term of such Incentive Stock Option).

If an Incentive Stock Option ceases to be an Incentive Stock Option by virtue of failure to timely exercise the Option as described above, but the Option remains exercisable pursuant to its terms, the Option will be treated as a Non-qualified Stock Option and the provisions set forth in the Plan or the Option Agreement will apply with respect to the period during which the Option may be exercised.

For purposes of this Subsection 11.5(f), the employment of a U.S. Participant holding an Incentive Stock Option will not be considered interrupted or terminated upon (a) sick leave, military leave or any other leave of absence approved by the Corporation that does not exceed 90 days in the aggregate but if re-employment upon the expiration of any such leave is guaranteed by contract or applicable law, such 90 day limitation will not apply, or (b) a transfer from one office of the Corporation (or of any Parent or Subsidiary) to another office of the Corporation (or of any Parent or Subsidiary) or a transfer between the Corporation and any Parent or Subsidiary.

For greater clarity, under no circumstances shall the above limitations with respect to the period of time in which an Incentive Stock Option must be exercised to retain its status as an Incentive Stock Option be construed to extend the time during which an Option may be exercised pursuant to its terms as set forth in the Plan or applicable Option Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) An Incentive Stock Option granted to a
 U.S. Participant may be exercised during such U.S. Participant's lifetime only by such
 U.S. Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) An Incentive Stock Option granted to a U.S. Participant may not be
 transferred, assigned, pledged, hypothecated or otherwise disposed of by such U.S. Participant,
 except by will or by the laws of descent and distribution.

**11.6** If this Plan is not approved
 by the Shareholders as required by Section 422 of the Code within 12 months after the date on which this Plan is adopted by
 the Board, any Incentive Stock Option granted under this Plan will automatically be deemed to be a Non-qualified Stock Option.

**11.7** Any adjustment, amendment or
 termination of outstanding Options granted to U.S. Participants will occur only if such actions are undertaken in accordance with
 Code Section 409A on a basis consistent with the regulations thereunder.

**12.** **APPROVALS, TERMINATION AND AMENDMENT OF PLAN** 

**12.1**  **<u>Power to Terminate or Amend Plan</u>** - Subject to
 the approval of any stock exchange on which the Corporation's securities are listed, the Board may terminate, suspend or amend
 the terms of the Plan but, except as provided in Section 10 above, and as long as the Corporation is a "reporting issuer"
 under the securities laws of any jurisdiction in Canada, the Board may not do any of the following without obtaining, within 12 months
 either before or after the Board's adoption of a resolution authorizing such action, approval ()"**Shareholder Approval** ")
 by the affirmative votes of the holders of a majority of the voting securities of the Corporation present, or represented, and entitled
 to vote at a meeting duly held in accordance with the applicable corporate laws, and, where required, by way of Disinterested Shareholder
 Approval:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) increase the aggregate number of Shares which may be issued under
 the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) materially modify the requirements as to eligibility for participation
 in the Plan; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) materially increase the benefits accruing to participants under the
 Plan.

However, the Board may amend the terms of the Plan or of an Option granted under the Plan where permitted under the rules of any applicable regulatory authority without obtaining Shareholder Approval to such amendment in circumstances other than as set forth above, including but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) amendments of a housekeeping nature to the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) a change to the vesting provisions of an Option or the Plan, subject
 to prior written approval of the TSXV if applicable; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) a change to the termination provisions of an Option which does not
 entail an extension beyond the original expiry date of the Option.

**12.2**  **<u>No Grant During Suspension of Plan</u>** - No Option may be granted during any suspension, or after termination, of the Plan. Amendment, suspension or termination
 of the Plan shall not, without the consent of the Optionee, alter or impair any rights or obligations under any Option previously
 granted.

**12.3**  **<u>No Options Granted After 10 Years</u>** – No Option may be granted under this Plan after the date that is 10 years from the date the Plan is adopted
 by the Board or approved by the Shareholders, whichever is earlier.

**13.** **CONDITIONS PRECEDENT TO ISSUANCE OF SHARES** 

**13.1**  **<u>Compliance with Laws</u>** - Shares shall not be issued pursuant to the exercise of an Option unless the Shares are fully paid and non-assessable and the exercise
 of such Option and the issuance and delivery of such Shares shall comply with all relevant provisions of law, including, without
 limitation, the United States Securities Act of 1933, as amended, any applicable provincial or state securities or corporate laws,
 the rules and regulations promulgated thereunder and the requirements of any stock exchange upon which such Shares may then
 be listed or otherwise traded.

**13.2**  **<u>Regulatory Approval to Issuance of Shares</u>** - The Corporation's inability to obtain authority from any securities regulatory body having jurisdiction,
 which authority is deemed by the Corporation's counsel to be necessary to the lawful issuance and sale of any Shares issued
 under this Plan, shall relieve the Corporation of any liability with respect to the failure to issue or sell such Shares.

**14.** **USE OF PROCEEDS** 

**14.1**  **<u>Use of Proceeds</u>** - Proceeds from the sale of
 Shares pursuant to the Options granted and exercised under the Plan shall constitute general funds of the Corporation and shall be
 used for general corporate purposes.

**15.** **NOTICES** 

**15.1**  **<u>Notices</u>** - All notices, requests, demands and
 other communications required or permitted to be given under this Plan and the Options granted under this Plan shall be in writing
 and shall be either served personally on the party to whom notice is to be given, in which case notice shall be deemed to have been
 duly given on the date of such service; faxed or electronically transmitted, in which case notice shall be deemed to have been duly
 given on the date the facsimile or electronic transmission is sent; or mailed to the party to whom notice is to be given, by first
 class mail, registered or certified, return receipt requested, postage prepaid, and addressed to the party at his or its most recent
 known address, in which case such notice shall be deemed to have been duly given on the tenth postal delivery day following the date
 of such mailing.

**16.** **MISCELLANEOUS PROVISIONS** 

**16.1**  **<u>No Obligation to Exercise</u>** - Optionees shall
 be under no obligation to exercise Options granted under this Plan.

**16.2**  **<u>No Obligation to Retain Optionee</u>** - Nothing contained
 in this Plan shall obligate the Corporation or any Subsidiary to retain an Optionee as an employee, officer, director, or consultant
 for any period, nor shall this Plan interfere in any way with the right of the Corporation or any Subsidiary to reduce such Optionee's
 compensation.

**16.3**  **<u>Binding Agreement</u>** - The provisions of this Plan
 and the terms set out in each Option Agreement with an Optionee shall be binding upon such Optionee and the Qualified Representative
 or Guardian of such Optionee.

**16.4**  **<u>Use of Terms</u>** - Where the context so requires,
 references herein to the singular shall include the plural, and vice versa, and references to a particular gender shall include either
 or both genders.

**16.5**  **<u>Headings</u>** - The headings used in this Plan are
 for convenience of reference only and shall not in any way affect or be used in interpreting any of the provisions of this Plan.

**16.6**  **<u>No Representation or Warranty</u>** - The Corporation
 makes no representation or warranty as to the future market value of any Shares issued or issuable in accordance with the provisions
 of this Plan.

**16.7**  **<u>Governing Law</u>** - This Plan shall be governed
 by and construed in accordance with the laws of the Province of British Columbia.

**16.8**  **<u>Withholding</u>** - If the Corporation or any of its
 Subsidiaries, as applicable, shall be required to withhold any amounts by reason of any federal, provincial, state, local or other
 laws of any jurisdiction concerning taxes, social security contributions or other source deductions in respect of the issuance or
 delivery of the Options or Shares to the Optionee, the Corporation or the Subsidiary, as applicable, may deduct and withhold such
 amount or amounts from any payment made by the Corporation or a Subsidiary to such Optionee, whether or not such payment is made
 pursuant to this Plan. In addition, or as an alternative to such withholding from payments, the Corporation or a Subsidiary with
 a withholding obligation as described above may require an Optionee, as a condition of exercise of an Option, to pay to the Corporation
 or the Subsidiary, as the case may be, an amount equal to the total of the withholding obligation of the Corporation or Subsidiary
 in respect of the issuance or delivery of the Options or Shares to the Optionee, or to reimburse the Corporation or Subsidiary for
 such amount. Under no circumstances shall the Corporation of Subsidiary be responsible for funding the payment of any tax, social
 security contributions or other source deductions on behalf of the Optionee or for providing any tax advice to the Optionee.

---

| | |
|:---|:---|
| **17.** | **CALIFORNIA OPTIONS** |
|  | Notwithstanding any other provision of this Plan, the provisions of this Section 17 shall apply to any Option granted or proposed to be granted to a Person in California, unless such Option is otherwise exempt from the applicable securities laws of California (a "California Option"). |
| **17.1** | **<u>Maximum Exercise Period</u>** - A California Option may not be exercised more than 10 years after the Grant Date. |
| **17.2** | **<u>Post-Termination Exercise Period</u>** – Unless employment is terminated for cause as defined by applicable law, the terms of the Plan or Option Agreement or a contract of employment, the right to exercise a California Option in the event of termination of employment of the Optionee, to the extent that the Optionee is entitled to exercise on the date employment terminates, continues until at least the earlier of the expiration of the Term of the California Option or: |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at least six months from the date of termination, if termination was
 caused by death or disability; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) at least 30 days from the date of termination, if termination was
 caused by other than death or disability.

**17.3**  **<u>Shareholder Approval / Grant Limitations</u>** – The Corporation will not grant California Options unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Corporation is a foreign private issuer, as defined by Rule 3b-4
 of the Securities Exchange Act of 1934, as amended, on the Grant Date of the California Option,
 and the aggregate number of persons in California granted options under all option plans
 and agreements and issued securities under all purchase and bonus plans and agreements of
 the Corporation does not exceed 35; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) prior to or within 12 months of the granting of the first California
 Option under the Plan, the Plan is approved by a majority of the Corporation's outstanding
 securities entitled to vote, not counting for the purpose of calculating such vote any securities
 issued upon exercise of Options granted in California.

**EXHIBIT A**

**OPTION AGREEMENT**

**[The following legend is required in respect of Options granted to Insiders or Consultants of the Corporation or Options granted at any discount to Fair Market Value: *Without prior written approval of the TSX Venture Exchange and compliance with all applicable securities legislation, the securities represented by this agreement and any securities issued upon exercise thereof may not be sold, transferred, hypothecated or otherwise traded on or through the facilities of the TSX Venture Exchange or otherwise in Canada or to or for the benefit of a Canadian resident until*** •***, 20***• ***[four months and one day after the date of grant].***

 ****

<u> </u> , 20<u> </u>

[Name]<br> [Address]

Dear Optionee:

**<u>Re: Grant of Stock Option to you by the Corporation</u>**

NervGen Pharma Corp. (the "**Corporation**") hereby offers you a non-assignable option to purchase common shares in the capital of the Corporation pursuant to the Corporation's Stock Option Plan (the "**Plan**"), a copy of which is enclosed with this Agreement. You and the Corporation confirm that you are a *bona fide* Director, Officer, Employee or Consultant, as defined in the Plan.

Your stock option is subject to the terms and conditions of the Plan, which are deemed to be incorporated in this Agreement, and to the following specific provisions:

---

| | |
|:---|:---|
| **Grant Date:** | **_____________________,20<u> </u>** |
| **Number of Shares:** |  |
| **Option Price:** | **C$_____per share** |
| **Expiry Time:** | **4:00 p.m. (Vancouver time)___________, 20<u> </u>** |
| **Vesting:** | **_____________________** |

---

Subject to first vesting, your stock option may be exercised in whole or in part at any time before the Expiry Time by notice in writing to the Corporation. Such notice shall specify the number of shares with respect to which you are exercising your stock option and must be accompanied by a certified cheque, wire transfer or bank order in favour of the Corporation payable in Canadian funds in full payment of the Option Price for the number of shares then being purchased.

**[The Corporation and the Optionee hereby certify that the Optionee is a *bona fide* employee or consultant of the Corporation [or subsidiary of the Corporation].]**

There may be restrictions imposed under securities legislation of Canada and your country of residence on your ability to sell shares acquired on exercise of this stock option. If you are in doubt about the applicable requirements, you should consult a lawyer.

You acknowledge and consent to the Corporation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) collecting your personal information ()"**Personal Information**") for the purposes of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) retaining the personal information for as long as permitted or required
 by applicable law or business practices; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) providing to various governmental and regulatory authorities, as may
 be required by applicable securities laws, stock exchange rules, and the rules of the
 Investment Industry Regulatory Organization of Canada (IIROC) or to give effect to this agreement
 any personal information provided by you.

You also acknowledge that you have been notified by the Corporation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) of the delivery of the Personal Information to all applicable securities
 regulatory authorities or regulators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that the Personal Information is being collected by the securities
 regulatory authority or regulator under the authority granted in Canadian securities legislation
 for the purposes of the administration and enforcement of applicable Canadian securities
 legislation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) of the contact information of the public official in each applicable
 Canadian jurisdiction who can answer questions about this indirect collection of Personal
 Information is set out in the attached schedule.

If you choose to accept this stock option, please sign in the space provided below.

**NERVGEN PHARMA CORP.**

Per: <br> Authorized Signatory

**I hereby ACCEPT** the above stock option **and AGREE** to the terms and conditions described above, including the terms and conditions of the Plan.

  <br> Optionee's Signature

**Schedule**

**Contact Information of Public Officials Regarding Indirect Collection of Personal Information**

---

| | |
|:---|:---|
| **Alberta Securities Commission** | **British Columbia Securities Commission** |
| Suite 600, 250 – 5<sup>th</sup> Street SW | P.O. Box 10142, Pacific Centre |
| Calgary, Alberta T2P 0R4 | 701 West Georgia Street |
| Telephone: 403-297-6454 Toll free in Canada: 1-877-355-0585 | Vancouver, British Columbia V7Y 1L2 |
| Facsimile: 403-297-2082 | Inquiries: 604-899-6854 Toll free in Canada: 1-800-373-6393 |
| Public official contact regarding indirect collection of information: | Facsimile: 604-899-6581 |
| **FOIP Coordinator** | Email: FOI-privacy@bcsc.bc.ca |
|  | Public official contact regarding indirect collection of information: |
| **The Manitoba Securities Commission** | **Financial and Consumer Services Commission (New Brunswick)** |
| 500 – 400 St. Mary Avenue | 85 Charlotte Street, Suite 300 |
| Winnipeg, Manitoba R3C 4K5 | Saint John, New Brunswick E2L 2J2 |
| Telephone: 204-945-2561 | Telephone: 506-658-3060 Toll free in Canada: 1-866-933-2222 |
| Toll free in Manitoba 1-800-655-5244 | Facsimile: 506-658-3059 |
| Facsimile: 204-945-0330 | Email: info@fcnb.ca |
| Public official contact regarding indirect collection of information: | Public official contact regarding indirect collection of information: |
| **Director** | **Chief Executive Officer and Privacy Officer** |
| **Government of Newfoundland and Labrador** | **Government of the Northwest Territories** |
| **Financial Services Regulation Division** | **Office of the Superintendent of Securities** |
| P.O. Box 8700, Confederation Building | P.O. Box 1320 |
| 2nd Floor, West Block | Yellowknife, Northwest Territories X1A 2L9 |
| Prince Philip Drive | Telephone: 867-767-9305 Facsimile: 867-873-0243 |
| St. John's, Newfoundland and Labrador A1B 4J6 | Public official contact regarding indirect collection of information: |
| Attention: Director of Securities | **Superintendent of Securities** |
| Telephone: 709-729-4189 Facsimile: 709-729-6187 |  |
| Public official contact regarding indirect collection of information: |  |
| **Superintendent of Securities** |  |
| **Nova Scotia Securities Commission** | **Government of Nunavut** |
| Suite 400, 5251 Duke Street | **Department of Justice** |
| Duke Tower | Legal Registries Division |
| P.O. Box 458 | P.O. Box 1000, Station 570 |
| Halifax, Nova Scotia B3J 2P8 | 1st Floor, Brown Building |
| Telephone: 902-424-7768 Facsimile: 902-424-4625 | Iqaluit, Nunavut X0A 0H0 |
| Public official contact regarding indirect collection of information: | Telephone: 867-975-6590 Facsimile: 867-975-6594 |
| **Executive Director** | Public official contact regarding indirect collection of information: |
|  | **Superintendent of Securities** |
| **Ontario Securities Commission** | **Prince Edward Island Securities Office** |
| 20 Queen Street West, 22nd Floor | 95 Rochford Street, 4th Floor Shaw Building |
| Toronto, Ontario M5H 3S8 | P.O. Box 2000 |
| Telephone: 416-593- 8314 Toll free in Canada: 1-877-785-1555 | Charlottetown, Prince Edward Island C1A 7N8 |
| Facsimile: 416-593-8122 | Telephone: 902-368-4569 Facsimile: 902-368-5283 |
| Email: exemptmarketfilings@osc.gov.on.ca | Public official contact regarding indirect collection of information: |
| Public official contact regarding indirect collection of information: | **Superintendent of Securities** |
| **Inquiries Officer** |  |

---

---

| | |
|:---|:---|
| **Autorité des marchés financiers** | **Financial and Consumer Affairs Authority of Saskatchewan** |
| 800, Square Victoria, 22e étage | Suite 601 – 1919 Saskatchewan Drive |
| C.P. 246, Tour de la Bourse | Regina, Saskatchewan S4P 4H2 |
| Montréal, Québec H4Z 1G3 | Telephone: 306-787-5842 Facsimile: 306-787-5899 |
| Telephone: 514-395-0337 or 1-877-525-0337 | Public official contact regarding indirect collection of information: |
| Facsimile: 514-864-6381 | **Director** |
| Email: financementdessocietes@lautorite.qc.ca |  |
| Public official contact regarding indirect collection of information: |  |
| **Secrétaire générale** |  |
| **Government of Yukon** |  |
| **Department of Community Services** |  |
| Office of the Superintendent of Securities |  |
| 307 Black Street |  |
| Whitehorse, Yukon Y1A 2N1 |  |
| Telephone: 867-667-5466 Facsimile: 867-393-6251 |  |
| Email: securities@gov.yk.ca |  |

---

Public official contact regarding indirect collection of information: **Superintendent of Securities**

**EXHIBIT B**

**OPTION AGREEMENT<br> (U.S. Participant)**

**[The following legend is required in respect of Options granted to Insiders or Consultants of the Corporation or Options granted at any discount to Fair Market Value: *Without prior written approval of the TSX Venture Exchange and compliance with all applicable securities legislation, the securities represented by this agreement and any securities issued upon exercise thereof may not be sold, transferred, hypothecated or otherwise traded on or through the facilities of the TSX Venture Exchange or otherwise in Canada or to or for the benefit of a Canadian resident until*** •***, 20***• ***[four months and one day after the date of grant].]***

 ****

<u> </u> , 20<u> </u>

[Name]<br> [Address]

Dear Optionee:

**<u>Re: Grant of Stock Option to you by the Corporation</u>**

NervGen Pharma Corp. (the "**Corporation**") hereby offers you a non-assignable option to purchase common shares in the capital of the Corporation pursuant to the Corporation's Stock Option Plan (the "**Plan**"), a copy of which is enclosed with this Agreement. You and the Corporation confirm that you are a *bona fide* Director, Officer, Employee or Consultant, as defined in the Plan.

Your stock option is subject to the terms and conditions of the Plan, which are deemed to be incorporated in this Agreement, and to the following specific provisions:

---

| | |
|:---|:---|
| **Grant Date:** | **_____________________,20<u> </u>** |
| **Number of Shares:** |  |
| **Option Price:** | **C$per share** |
| **Expiry Time:** | **4:00 p.m. (Vancouver time)___________, 20<u> </u>** |
| **Type of Option:** | **The Company intends for the Options granted under this Agreement to qualify as Incentive Stock Options (ISOs) under Section 422 of the Internal Revenue Code of 1986, as amended, to the extent permitted by law.** |
| **Vesting:** | **_____________________** |

---

Subject to first vesting, your stock option may be exercised in whole or in part at any time before the Expiry Time by notice in writing to the Corporation. Such notice shall specify the number of shares with respect to which you are exercising your stock option and must be accompanied by a certified cheque, wire transfer or bank order in favour of the Corporation payable in Canadian funds in full payment of the Option Price for the number of shares then being purchased.

**[The Corporation and the Optionee hereby certify that the Optionee is a *bona fide* employee or consultant of the Corporation [or subsidiary of the Corporation].]**

There may be restrictions imposed under securities legislation of Canada and your country of residence on your ability to sell shares acquired on exercise of this stock option. If you are in doubt about the applicable requirements, you should consult a lawyer.

You hereby represent and warrant to, and covenant with, the Corporation (and it is a condition of exercising your stock option and the Corporation may require you to execute an instrument in a form acceptable to it confirming the following) that you are currently or at the time of exercise of the options in the U.S. or a U.S. resident, you:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) understand and agree that the options and the underlying shares are
 "restricted securities" within the meaning of Rule 144 under the Securities
 Act of 1933, as amended (the "**U.S. Securities Act** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) will acquire any shares upon the exercise
 of your option as an investment and not with a view to distribution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) will not offer or sell or otherwise dispose of the shares unless the
 shares are subsequently registered under the U.S. Securities Act and applicable U.S. state
 securities laws or an exemption from registration is available;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) consent to the placing of a restrictive legend on any share certificates
 issued to you or a stop transfer on any shares issued to you; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) acknowledge that securities laws applicable
 to you or the Corporation may require you to hold any shares issued to you for a certain
 period prior to resale thereof.

You acknowledge and consent to the Corporation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) collecting your personal information ()"**Personal Information** ")
 for the purposes of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) retaining the personal information for as long as permitted or required
 by applicable law or business practices; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) providing to various governmental and regulatory authorities, as may
 be required by applicable securities laws, stock exchange rules, and the rules of the
 Investment Industry Regulatory Organization of Canada (IIROC) or to give effect to this agreement
 any personal information provided by you.

You also acknowledge that you have been notified by the Corporation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) of the delivery of the Personal Information to all applicable securities
 regulatory authorities or regulators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that the Personal Information is being collected by the securities
 regulatory authority or regulator under the authority granted in Canadian securities legislation
 for the purposes of the administration and enforcement of applicable Canadian securities
 legislation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) that the contact information of the public official in British Columbia
 who can answer questions about this indirect collection of Personal Information is:

British Columbia Securities Commission

P.O. Box 10142, Pacific Centre

701 West Georgia Street

Vancouver, British Columbia V7Y 1L2

Inquiries: 604-899-6854 Toll free in Canada: 1-800-373-6393

Facsimile: 604-899-6581

Email: FOI-privacy@bcsc.bc.ca

Public official contact regarding indirect collection of information: FOI Inquiries

If you choose to accept this stock option, please sign in the space provided below.

**NERVGEN PHARMA CORP.**

Per: <br> Authorized Signatory

**I hereby ACCEPT** the above stock option **and AGREE** to the terms and conditions described above, including the terms and conditions of the Plan.

  <br> Optionee's Signature

**APPENDIX C**

**AUDIT COMMITTEE CHARTER**

Effective September 26, 2018, revised on February 23, 2022 and March 19, 2026.

<u>Purpose</u>

The Audit Committee (the "**Audit Committee**") assists the Board of Directors (the "**Board**") of NervGen Pharma Corp. ("**NervGen**" or the "**Company**") in fulfilling its oversight responsibilities in relation to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the integrity of the Company's financial statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Company's compliance with legal and regulatory requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the qualifications, independence and
 performance of the Company's independent auditors engaged for the purpose of preparing
 or issuing an audit report or performing other audit, review or attest services for the Company
 (the "**External Auditors** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the performance of the Company's
 internal audit function; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the preparation of the report required
 by applicable securities regulators to be included in the Company's annual proxy statement.

<u>Composition and Process</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Audit Committee shall be composed
 of a minimum of three members of the Board of Directors, each of whom are independent. An
 independent director, as defined in National Instrument 52-110 *- Audit Committees* ()"**NI 52-110**") and Rule 5605(a)(2) under the Listing Rules of The Nasdaq
 Stock Market, is a director who has no direct or indirect material relationship which could,
 in the view of the Company's Board of Directors, be reasonably expected to interfere
 with the exercise of a member's independent judgment or as otherwise determined to
 be independent in accordance with NI 52-110 or other applicable laws, regulations, rules and
 guidelines. The Board may remove members of the Audit Committee at any time, with or without
 cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Members shall serve one-year terms and
 may serve consecutive terms, which are encouraged to ensure continuity of experience. Resignation
 or removal of a Director from the Board, for whatever reason, shall automatically constitute
 resignation or removal, as applicable, from the Audit Committee. Vacancies, for whatever
 reason, may be filled only by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The chairperson (the "Chair")
 shall be designated by the Board; provided, that if the Board does not so designate a Chair,
 the Audit Committee shall choose one of its members to be its Chair by majority vote.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) All members of the Audit Committee shall
 be financially literate. Financial literacy is the ability to read and understand a balance
 sheet, income statement and cash flow statement that present a breadth and level of complexity
 comparable to the Company's financial statements. At least one member of the Audit
 Committee shall have past employment experience in finance or accounting, requisite professional
 certification in accounting, or comparable experience or background that results in the individual's
 financial sophistication, including being or having been a chief executive officer, chief
 financial officer or other senior officer with financial oversight responsibilities. One
 or more members of the Audit Committee may qualify as an "audit committee financial
 expert" under the rules promulgated by applicable securities regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) A member of the Audit Committee may not,
 other than as a member of the Audit Committee, the Board or any other committee established
 by the Board, receive directly or indirectly any consulting, advisory or other compensatory
 fee from the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Chairperson shall, in consultation
 with management and the external auditor and internal auditor (if any), establish the agenda
 for the meetings and ensure that properly prepared agenda materials are circulated to the
 members with sufficient time for study prior to the meeting. The external auditor will also
 receive notice of all meetings of the Audit Committee. The Audit Committee may employ a list
 of prepared questions and considerations as a portion of its review and assessment process.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The Audit Committee shall meet as often
 as it deems appropriate, but no less frequently than quarterly. A quorum at meetings of the
 Audit Committee shall be a majority of its members. The Audit Committee may hold its meetings,
 and members of the Audit Committee may attend meetings, by telephone conference or other
 electronic means if this is deemed appropriate. In lieu of a meeting, the Audit Committee
 may act by unanimous written consent in accordance with the Company's articles of incorporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The minutes of the Audit Committee meetings
 shall accurately record the decisions reached and shall be distributed to Audit Committee
 members with copies to the Board of Directors, the Chief Executive Officer, the Chief Financial
 Officer and the external auditor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Audit Committee reviews, prior to
 their presentation to the Board of Directors and their release, all material financial information
 required by securities legislation and policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The Audit Committee enquires about potential
 claims, assessments and other contingent liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) The Audit Committee periodically reviews
 with management, depreciation and amortization policies, loss provisions and other accounting
 policies for appropriateness and consistency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) The Audit Committee shall review and reassess
 the adequacy of this Charter annually and recommend to the Board any amendments or modifications
 it deems appropriate.

<u>Authority</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Appointed by the Board of Directors pursuant
 to the provisions of the *Business Corporations Act* (British Columbia) and the by-laws
 of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Primary responsibility for the Company's
 financial reporting, accounting systems and internal controls is vested in senior management
 and is overseen by the Board of Directors. The Audit Committee is a standing committee of
 the Board of Directors established to assist it in fulfilling its responsibilities in this
 regard. The Audit Committee shall have responsibility for overseeing management reporting
 on internal controls. While it is management's responsibility to design and implement
 an effective system of internal control, it is the responsibility of the Audit Committee
 to ensure that management has done so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) In fulfilling its responsibilities, the
 Audit Committee shall have unrestricted access to the Company's personnel and documents
 and will be provided with the resources necessary to carry out its responsibilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) The Audit Committee shall have direct
 communication channels with the internal auditor (if any) and the external auditor to discuss
 and review specific issues, as appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) The Audit Committee shall have the authority
 to engage independent counsel and other advisors as it determines necessary to carry out
 its duties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) The Audit Committee shall establish the
 compensation to be paid to any advisors employed by the Audit Committee and such compensation
 shall be paid by the Company as directed by the Audit Committee.

<u>Relationship with External Auditors</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) The Audit Committee shall be directly
 responsible for appointing, retaining and terminating, and for determining the compensation,
 of the Company's External Auditors. The Audit Committee may consult with management
 in fulfilling these duties, but may not delegate these responsibilities to management.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) An external auditor must report directly
 to the Audit Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) The Audit Committee is directly responsible
 for overseeing the work of the external auditor including the review and approval of the
 scope and staffing of the external auditor annual audit plan and the resolution of disagreements
 between management and the external auditor regarding financial reporting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) The Audit Committee shall implement structures
 and procedures to ensure that it meets with the external auditor as frequently as it deems
 necessary and at least annually in the absence of management.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) At least annually, and before the external
 auditors issue their report on the annual financial statements, the Audit Committee shall
 obtain from the external auditors a formal written statement describing all relationships
 between the external auditors and the Company; discuss with the external auditors any disclosed
 relationships or services that may affect the objectivity and independence of the external
 auditors; and obtain written confirmation from the external auditors that they are objective
 and independent within the meaning of the applicable Rules of Professional Conduct/Code
 of Ethics adopted by the provincial institute or order of chartered accountants to which
 the external auditors belong and other Applicable Requirements. The Audit Committee shall
 take appropriate action to oversee the independence of the external auditors.

<u>Accounting Systems, Internal Controls and Procedures</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) Obtain reasonable assurance from discussions
 with and/or reports from management, and reports from external auditors that accounting systems
 are reliable and that the prescribed internal controls are operating effectively for the
 Company and its subsidiaries and affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) The Audit Committee shall review to ensure
 to its satisfaction that adequate procedures are in place for the review of the Company's
 disclosure of financial information extracted or derived from the Company's financial
 statements and will periodically assess the adequacy of those procedures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) Direct the external auditor's examinations to particular
 areas.

(aa) Review control weaknesses identified by the external auditor,
 together with management's response.

(bb) Review with the external auditor its view of the qualifications
 and performance of the key financial and accounting executives.

(cc) In order to preserve the independence of the external auditor
 the Audit Committee will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) recommend to the Board of Directors the external auditor to be nominated;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) recommend to the Board of Directors the compensation of the external
 auditor's engagement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) The Audit Committee shall review and pre-approve any engagements
 for non-audit services to be provided by the external auditor or its affiliates, together with estimated fees, and consider the impact
 on the independence of the external auditor.

(ee) Review with management and with the external auditor any proposed
 changes in major accounting policies, the presentation and impact of significant risks and uncertainties, and key estimates and judgments
 of management that may be material to financial reporting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) The Audit Committee shall review and
 approve the Company's hiring policies regarding partners, employees and former partners
 and employees of the present and most recent former external auditor of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg) The Audit Committee shall establish procedures
 for the receipt, retention and treatment of complaints received by the Company regarding
 accounting, internal accounting controls or auditing matters and the confidential anonymous
 submission by employees of the Company of concerns regarding questionable accounting or auditing
 matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh) The
 Audit Committee shall on an annual basis, prior to public disclosure of its annual financial
 statements, ensure that the external auditor has entered into a participation agreement and
 has not had its participant status terminated, or, if its participant status was terminated,
 has been reinstated in accordance with the Canadian Public Accountability Board ()"**CPAB** ")
 and Public Company Accounting Oversight Board ()"**PCAOB**") bylaws and is
 in compliance with any restriction or sanction imposed by the CPAB or PCAOB *.* 

<u>Statutory and Regulatory Responsibilities</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Annual Financial Information - review
 the annual audited financial statements and related management's discussion and analysis
 ()"**MD&A** "), including any letter to shareholders and related press releases,
 and recommend their approval to the Board of Directors, after discussing matters such as
 the selection of accounting policies (and changes thereto), major accounting judgments, accruals
 and estimates with management and the external auditor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj) Annual Report - review the management
 MD&A section and all other relevant sections of the annual report, if prepared, to ensure
 consistency of all financial information included in the annual report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kk) Interim Financial Statements - review
 the quarterly interim financial statements and related MD&A, including any letter to
 shareholders and related press releases and recommend their approval to the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ll) Earnings Guidance/Forecasts - review
 forecasted financial information and forward-looking statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mm) Review the Company's financial statements, MD&A,
 prospectuses or other securities offering document, earnings press releases and any other publicly disseminated material financial
 disclosure before the Company publicly discloses such information.

<u>Reporting</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nn) Report, through the Chairperson of the Audit Committee, to
 the Board of Directors following each meeting on the major discussions and decisions made by the Audit Committee.

(oo) Report annually to the Board of Directors on the Audit Committee's
 responsibilities and how it has discharged them.

(pp) Review the Audit Committee's Charter annually and recommend
 the approval of any proposed amendments to the Board of Directors.

<u>Other Responsibilities</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(qq) Investigating fraud, illegal acts or conflicts of interest.

(rr) Discussing selected issues with corporate counsel or the external
 auditor or management.

**APPENDIX D**

**BOARD OF DIRECTORS CHARTER**

As Approved by the Board

February 23, 2022 and November 13, 2024

This Board charter sets out the role, composition and responsibilities of the Board of Directors (the "**Board**") of NervGen Pharma Corp. ("**NervGen**" or the "**Company**"). This charter further provides framework for the Board operations and committee structures. The conduct of the Board is also governed by the Company's Articles of Incorporation.

**1.** **Purpose of the Company** 

---

| | |
|:---|:---|
| Our Purpose: | Restoring Life's Potential |
| Our Vision: | Changing lives through revolutionary treatments that repair nervous system damage |
| Our Unique Difference: | Our platform enables the nervous system to repair itself |
| Our ExCITe Values: |  |

---

![](tm2612795d1_ex99-4sp6img01.jpg)

**2.** **Purpose of the Board** 

The main purpose of the Board is to review and approve the strategy of the company, assist and oversee the performance of business operations and ensure compliance for the benefit of shareholders, employees, customers, suppliers, creditors and the communities in which the company operates.

**3.** **Roles and Responsibilities** 

The members of the Board are responsible for supervising the management of the business and affairs of the Company. The Board has delegated authority for the operations and administration of the organization to the Chief Executive Officer (the "**CEO**").

The functions of the Board are to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Provide
 effective leadership and collaborate with the executive management team in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o developing and articulating the organization's values, purpose,
 mission and strategies

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o developing strategic plans and priorities

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o maintaining open lines of communication and ingraining the values, purpose,
 mission and strategies through the organization and with external stakeholders

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o developing and maintaining an organization structure to support the achievement
 of agreed strategic objectives

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Review
 and approve the strategic plan on an annual basis

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Review
 and approve the corporate goals and objectives to be considered in determining the compensation
 of the Company's CEO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Review
 and agree the business (action) plans and annual budget proposed by the executive management
 team

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Approve
 the declaration of dividends, the purchase and redemption of securities, acquisitions and
 dispositions of material capital assets and material capital expenditures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Monitor
 the performance of the CEO against agreed performance indicators

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Satisfy
 itself as to the integrity of the CEO and other members of senior management and that the
 Chief Executive Officer and other members of senior management of the Company strive to create
 a culture of integrity throughout the Company, to the extent feasible

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Monitor
 the achievement and critical risks of the strategic and business plans and annual budget
 outcomes, providing course correction as necessary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Monitor
 annual and quarterly financial statements and related footnotes, management's discussion
 and analysis, earnings releases and the Annual Information Form through the activities
 of the Audit Committee

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Ensure
 that internal financial, non-financial and business controls and management information systems
 have been established and are being maintained by management

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Review
 annually the succession plans of the Company for the Chairperson of the Board (the "**Chair** ")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Maintain
 the Company's approach to corporate governance, including the development and maintenance
 of corporate governance principles and guidelines for the Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Maintain
 the Company's Code of Conduct and Business Ethics

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Review
 any public communication of the Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Ensure
 compliance with the Articles of Incorporation, laws and insurance requirements

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Review
 and Approve compensation for the executives of the company and for the Board

**4.** **Board Composition, Structure and Compensation** 

&nbsp;&nbsp;&nbsp;&nbsp;**(a)** **Size of Board.** 

The Articles provide that the Board shall be comprised of at least three members or such greater number most recently set by ordinary resolution. The Board periodically reviews its size to determine that it is appropriate for its effective operation.

&nbsp;&nbsp;&nbsp;&nbsp;**(b)** **Mix of Directors.** 

A majority of the Board will be independent under applicable laws, regulations, rules and guidelines. The Board will be comprised of a sufficient number of independent directors with the requisite skills and qualification to ensure that the Audit, Compensation and Governance Committees can function in accordance with their charters.

&nbsp;&nbsp;&nbsp;&nbsp;**(c)** **Chairperson of the Board.** 

The members of the Board shall designate a Chair by majority vote of the full Board membership, following consideration of the recommendation of the Nominating and Corporate Governance Committee (the "**Governance Committee**").

&nbsp;&nbsp;&nbsp;&nbsp;**(d)** **Selection of Directors.** 

In connection with its proxy solicitation relating to the Company's annual meeting of shareholders, the Board recommends a slate of nominees for election by the Company's shareholders. In addition, the Board fills vacancies on the Board when necessary or appropriate. The Board's recommendations or determinations are made after consideration of the recommendations of, and information supplied by, the Governance Committee as to the suitability of each individual, taking into account the criteria described below and other factors, including the requirements for Board committee membership. In recommending nominees, the Governance Committee shall consider candidates for nomination duly and legally recommended by a Company shareholder.

&nbsp;&nbsp;&nbsp;&nbsp;**(e)** **Board Membership Criteria.** 

The Board as a whole should collectively possess a broad range of skills, expertise, industry and other knowledge, and business and other experience useful to the effective oversight of the Company's business. The Board also seeks members from diverse backgrounds so that the Board consists of members with a broad spectrum of experience and expertise and with a reputation for integrity. Directors should have experience in positions with a high degree of responsibility, be leaders in the companies or institutions with which they are affiliated, and be selected based on contributions that they can make to the Company. In determining whether to recommend a director for reelection, the Governance Committee also considers a director's past attendance at meetings and participation in and contributions to the activities of the Board and committees of the Board on which the director served. Each new director shall participate in an initial orientation program and each director shall participate in the Company's continuing director education programs.

&nbsp;&nbsp;&nbsp;&nbsp;**(f)** **Term Limits; Resignation.** 

Term Limits. The Board does not believe that it should establish term limits. While term limits could help ensure that there are fresh ideas and viewpoints available to the Board, they have the disadvantage of causing the loss of the contribution of directors who have been able to develop, over a period of time, increasing insight into the Company and its operations and therefore provide an increasing contribution to the Board as a whole.

&nbsp;&nbsp;&nbsp;&nbsp;**(g)** **Additional Directorships.** 

Directors are encouraged to limit the number of other boards of directors (excluding not-for-profit boards of directors) on which they serve, taking into account their potential meeting attendance, participation, and other commitments with respect to these other boards of directors. It is generally advisable for members of the Audit Committee to limit the number of audit committees on which they serve to four. The Governance Committee and the full Board will take into account the nature of, and the time involved in, a director's service on other boards of directors in evaluating the suitability of individual director candidates. Prior to accepting any invitation to serve on another board of directors of a potentially competing corporation, a director must seek and receive the consent of the Governance Committee and the Chair to confirm the absence of any actual or potential conflict of interest.

&nbsp;&nbsp;&nbsp;&nbsp;**(h)** **Board Compensation.** 

A director who is also an officer of the Company shall not receive additional compensation for such service as a director. The form and amount of non-employee director compensation will be recommended by the Compensation Committee, which will evaluate annually the level and form of Board compensation in relation to comparable public companies (in terms of size, industry, complexity, etc.) and report their findings and recommendations to the Board. Changes to director compensation will be proposed to the full Board for consideration. In order to align the interests of directors with shareholders, directors are encouraged to own stock in the Company, and to that end, the majority of director compensation shall be equity based.

**5.** **Board Committees** 

Board committees will be formed only when it is efficient or necessary to facilitate effective discharge of the Board's roles and responsibilities. Board committees will observe the same rules of conduct and procedure as the Board unless the board determines otherwise. Board committees will only speak or act for the Board when so authorized. The authority conferred on a Board committee will not derogate from the authority delegated to the CEO. The Board shall annually evaluate the performance and review the work of its committees.

**6.** **Board Meetings and Procedures** 

&nbsp;&nbsp;&nbsp;&nbsp;**(a)** **Number of Meetings; Attendance; Preparation.** 

The Board holds a minimum of four regularly scheduled meetings per year. Directors are expected to attend all regularly scheduled meetings and to have, prior to the meetings, reviewed all written meeting materials distributed to them in advance.

&nbsp;&nbsp;&nbsp;&nbsp;**(b)** **Quorum.** 

No business may be transacted by the Board at a meeting unless a quorum of the Board is present, as specified in the Company's Articles.

&nbsp;&nbsp;&nbsp;&nbsp;**(c)** **Selection of Agenda Items.** 

The Chair, with input from the CEO, should establish the agenda for Board meetings; however, directors may at any time suggest that particular items be placed on the agenda, and the Chair will be given an opportunity to review all proposed items to be placed on an agenda.

&nbsp;&nbsp;&nbsp;&nbsp;**(d)** **Distribution of Materials.** 

The Company will distribute written materials, including the agenda, for use at Board meetings sufficiently in advance of meetings to permit meaningful review. It is recognized, however, that under certain circumstances written materials may be unavailable to directors in advance of the meeting. On those occasions in which the subject matter is too sensitive to provide in writing, the Chair may elect to contact each director by telephone in advance of the meeting to discuss the subject and the principal issues the Board will need to consider. The Governance Committee will periodically review the information flow to directors to ensure that directors receive the right kind and amount of information in sufficient time to prepare for meetings.

&nbsp;&nbsp;&nbsp;&nbsp;**(e)** **Attendance of Non-Directors.** 

Regularly scheduled Board meetings should generally have three components: (i) an operational update in which the participation of senior management is encouraged, (ii) a closed portion which includes the Board members and the secretary of the Board, generally to discuss finance and HR issues, and (iii) an In Camera session (see below). Other persons may be invited to attend Board meetings where appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;**(f)** **In Camera Sessions**.

The Board will meet in camera after each of the Board's regularly scheduled meetings and each in camera session will generally have two parts. The first part will include the CEO to (i) evaluate other Executive management; and (ii) consider such other matters as they may deem appropriate. The second part will exclude the CEO to (i) evaluate the CEO; and (ii) consider such other matters as they may deem appropriate. The non-executive directors may meet in camera at any time to consider issues that they deem important to address without management present. Following each in camera session held without the CEO, the results of the deliberations and any recommendations should be communicated to the CEO by the Chair or any other director appointed by the Board.

**7.** **Board Culture & Conduct** 

&nbsp;&nbsp;&nbsp;&nbsp;**(a)** The Board actively seeks to have an 'engaged culture'
which is characterized by candor and a willingness to challenge.

**Agendas**

The agendas of the Board limit presentation time and maximize discussion time. There are lots of opportunities for informal interactions among Board members.

**Norms**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Board members are honest yet constructive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Members
 are ready to ask questions and willing to constructively challenge leadership and each other.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Members actively seek out other
 members' views and contributions.

· Members spend appropriate time
 on important issues.

**Beliefs**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· "If I don't come prepared, I will be embarrassed."

· "If I don't actively participate, I won't
 be fulfilling my responsibility."

· "I'll earn the respect of fellow Board members
 by making valuable contributions and taking responsibility for what I do."

· "If I can't carry my load, or if I can't
 agree with what's going on, I should resign."

#### Values
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Board serves the community and its shareholders by actively
 participating in governance.

· The Board is primarily responsible to its shareholders.

· Board members are personally accountable for what goes on
 at the organization.

· the Board is responsible for maintaining the organization's
 stature in the sector.

· Board members respect each other.

**(b)** **Access to Senior Management/Independent Advisors.** 

Board members have complete and open access to senior members of management. The CEO will invite key employees to attend Board sessions at which the CEO believes they can meaningfully contribute to Board discussion. The Board, including the independent members of the Board, has the authority, in its discretion and at the Company's expense, to retain independent advisors.

**(c)** **Access to Shareholders and Other Interested Parties.** 

The CEO is responsible for establishing effective communications with the Company's shareholders, customers, associates, communities, suppliers, creditors, and corporate partners. Directors are not precluded from meeting with such parties, but any such meetings generally should be held with management present.

**(d)** **Conduct** 

Board members are required to comply with the NervGen's Code of Conduct as outlined in the NervGen Employee Manual

**(e)** **Confidentiality.** 

The Board believes that maintaining the confidentiality of information and deliberations is imperative.

**8.** **Reporting** 

Proceedings of all meetings are minuted and signed by the CEO or the chairperson of the meeting. Minutes of all Board meetings are circulated to directors and approved by the Board at the subsequent meeting. Resolutions are first put to the Board in draft form and, once passed, are recorded in a Resolutions Register.

**9.** **Review of Charter** 

The Board will review this charter annually to ensure it remains consistent with the Board's objectives and responsibilities.

**10.** **Publication of the Charter** 

Key features of the charter are to be outlined in the organization's Annual Report. A copy of the charter is available on the Company's website.

**APPENDIX E**

**AMENDED ARTICLES OF INCORPORATION**

**<u>QUORUM REQUIREMENT</u>**

**<u>Current Provisions</u>**

Section 11.3 of the Articles currently states:

"**11.3 Quorum**

Subject to the special rights and restrictions attached to the shares of any class or series of shares, the quorum for the transaction of business at a meeting of shareholders is two shareholders present in person or represented by proxy holding or representing at least 5% of the outstanding shares."

**<u>Amendments</u>**

Section 11.3 of the Articles is amended by deleting Section 11.3 and replacing with the following:

**"11.3 Quorum**

Subject to the special rights and restrictions attached to the shares of any class or series of shares, the quorum for the transaction of business at a meeting of shareholders is two persons who are, or who represent by proxy, shareholders who, in the aggregate, hold shares to which are attached at least 33⅓% of the votes attached to all of the issued shares of the Company entitled to be voted at the meeting."