Document:

Exhibit 4.34

Exhibit 4.34

Helix BioPharma Corp.
STOCK OPTION AGREEMENT
(2010 Equity Compensation Plan – Directors and Officers)

		
	1.	Grant of Option.

Helix BioPharma Corp. (the “Company”) has granted to ______________ (the “Optionee”), effective the ___ day of _______________, 20___ (the “Grant Date”) an option to purchase a total of ___________________ (_______________) common shares (the “Shares”) in the capital of the Company, at a price of $________________ (Canadian funds) per Share, and in all respects subject to the terms, definitions and provisions of the Company’s 2010 Equity Compensation Plan as amended (the “Plan”) which is incorporated herein by reference. The terms defined in the Plan shall have the same defined meanings herein.

		
	2.	Exercise of Option.

Subject to the provisions of this Agreement and the Plan, this Option shall be exercisable during its term as follows:

			
	

   
	

   (a)
	

   Subject to subsection 2(c) and to section 7 below, this Option shall vest ___________________________.

	

   
	

   
	

    

	

   
	

   (b)
	

   This Option may not be exercised for a fraction of a Share;

	

   
	

   
	

    

	

   
	

   (c)
	

   In the event of Optionee’s death, disability, or termination of service with the Company, the Optionee’s ability to exercise the Option shall be governed by Section 7 and by the provisions of the Plan; and

	

   
	

   
	

    

	

   
	

   (d)
	

  In the event that the Expiry Date falls during a period of any trading blackout period self- imposed by the Company or within four business days thereafter, this Option may be exercised until the end of the fifth business day following the expiry of the blackout period.

 

		
	3.	Method of Exercise.

This Option shall be exercisable by written notice which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised, registration and delivery instructions, if any, and such other representations and agreements as the Company may reasonably require, including without limitation, representations and agreements as to the Optionee’s investment intent with respect to such Shares and as to the Optionee’s residency or status under applicable securities laws. Such written notice shall be signed by the Optionee and shall be delivered in person or by certified mail to the Company. The written notice shall be accompanied by payment of the aggregate Option Exercise Price as provided in Section 4 below. Upon receipt of such notice and payment, the Company may elect to require the Optionee to pay such additional funds as it may determine in its discretion to be necessary to withhold for tax purposes or for other source deductions. If the Company so elects, then subject to applicable law, it may, but is not required to:

			
	

   
	

   (a)
	

  withhold any Shares to be issued to the Optionee pursuant to the exercise of the Option until such funds are paid, or

 

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   (b)
	

  dispose of such Shares upon such terms and conditions as it sees fit for the purpose of generating such funds, with any excess net proceeds received on the sale of the Shares to be delivered to the Optionee.

The Company may prescribe other methods of exercise of the Option from time to time.

		
	4.	Method of Payment.

Payment of the Option Exercise Price shall be by way of cheque or bank draft in Canadian funds, made payable to the Company, in an amount equal to the full purchase price of the number of optioned Shares specified in the notice of exercise.

		
	5.	Compliance with Laws.

This Option may not be exercised unless the issuance of such Shares upon such exercise or the method of payment of consideration for such Shares complies with all applicable securities laws, or any other applicable laws or regulations, including all tax withholding laws.

		
	6.	Residents of the United States and Other Countries.

If the Optionee is a resident or citizen of the United States of America at the time of the exercise of the Option, the certificate(s) (“Share Certificate(s)”) representing the optioned Shares may be endorsed with the following legend and/or such other restrictive legend or legends as legal counsel to the Company considers necessary or desirable in light of applicable securities or other laws: “The shares represented by this Certificate have not been registered under the Securities Act of 1933, as amended, of the United States of America (the “Act”) or the securities laws of any state (“State”) of the United States of America and may not be sold, transferred, pledged, hypothecated or distributed, directly or indirectly, to a U.S. person (as defined in Regulation S adopted by the U.S. Securities and Exchange Commission under the Act) or within the United States unless such shares are (i) registered under the Act and any applicable State securities act (a “State Act”), or (ii) exempt from registration under the Act and any applicable State Act and the Company has received an opinion of counsel to such effect reasonably satisfactory to it, or (iii) sold in accordance with Regulation S.” If the Optionee is a resident of a county other than the United States of America at the time of exercise of the Option, then if legal counsel to the Company considers it necessary or desirable to do so in light of applicable securities or other laws, the foregoing legend(s) and/or such other restrictive legend or legends as legal counsel to the Company consider necessary or desirable, may be endorsed on the Share Certificate(s).

		
	7.	Term and Early Termination of Option.

 

		
	7.1	Term of Option.

This Option shall expire on ________________________ (the “Expiry Date”), subject to Sections 7.5, 7.6 and 7.7 below, and the Plan. This Option will terminate earlier than the Expiry Date upon the occurrence of a number of events, including termination of the Optionee’s position as an Eligible Person. This Option may be extended in the circumstances referred to in section 2(d) above.

		
	7.2	Termination Date.

For purposes of this Section 7, “Termination Date” shall mean the date on which the Optionee ceases to be an Eligible Person for any reason whatsoever, provided that if notice is given by the Company, an affiliate of the Company or by the Optionee to terminate the Optionee’s position as an Eligible Person, then “Termination

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 Date” shall mean the date specified in such notice as the last day that the Eligible Person’s services are to be rendered.

		
	7.3	No Modification of Termination Date.

The Optionee acknowledges and agrees that the Termination Date, as defined herein, shall not be extended by payment of any severance, in lieu of notice or otherwise, as may be provided for in the Optionee’s notice of termination, any employment, consulting, or other service agreement between the Optionee and the Company or its affiliates, or any statutory or common-law notice period respecting the termination of the Optionee’s position as an Eligible Person.

		
	7.4	Cessation of Vesting.

If the Optionee’s position as an Eligible Person is terminated prior to the Expiry Date for any reason whatsoever, then any vesting of options shall terminate on the Termination Date, and, subject to the Plan and Section 7.6 below, only those Options that have vested and remain unexercised as of such date are available for exercise during the periods referred to in Section 7.5 below or such other periods as may be prescribed by the Plan.

		
	7.5	Early Termination of Options.

If the Optionee’s position as an Eligible Person is terminated prior to the Expiry Date for a reason other than the Optionee’s termination for just cause, then all rights to exercise this Option will terminate on the day which is the earlier of the Expiry Date and one (1) year after the Termination Date.

		
	7.6	Termination for Just Cause.

If the Optionee’s position as an Eligible Person is terminated for just cause, this Option shall terminate on the day which is the earlier of the Expiry Date and the date of termination for just cause.

		
	7.7	Other Early Termination Provisions.

Other early termination provisions which apply to this Option are contained in the Plan. Subject to section 2(d), in no event shall this Option be exercisable beyond the Expiry Date.

		
	8.	Non-Transferability of Option.

This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution, and may be exercised during the lifetime of Optionee only by the Optionee or by the Optionee’s guardian, if any, as provided in the Plan. The terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

		
	9.	Limitations on Exercise

 

		
	9.1	Insider Limitation

The Optionee acknowledges that pursuant to the Plan, the number of common shares issued to insiders (as that term is defined in the Plan), within any one year period, under the Plan and all other security based compensation arrangements of the Company, cannot exceed 10% of the Company’s issued and outstanding common shares (the “10% limit”). The Optionee accepts and agrees to this limitation, and agrees that in the event the 10% limit is reached at any time, the Optionee may not exercise any part of the Option or any other options or rights then held by the Optionee pursuant to the Plan or any other security based compensation arrangements of the Company, at any time during the following year, if at such time the Optionee is an insider of the Company.

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	9.2	5% Limitation

The Optionee acknowledges that pursuant to the Plan, the number of Shares issued to any one person, within any one year period, under the Plan and all other security based compensation arrangements of the Company, cannot exceed 5% of the Company’s issued and outstanding Shares (the “5% limit”). The Optionee accepts and agrees to this limitation, and agrees that in the event the Optionee has reached the 5% limit at any time, the Optionee may not exercise any part of the Option, or any other options or rights then held by the Optionee pursuant to the Plan or any other security based compensation arrangements of the Company, during the following year.

		
	10.	Not an Employment Agreement.

This Agreement is not an employment agreement, and nothing contained in this Agreement shall obligate the Company or an affiliate of the Company to retain an Optionee as an employee, officer, director, or Consultant for any period, nor shall this Agreement interfere in any way with the right of the Company or affiliates of the Company to reduce such Optionee’s compensation.

Dated as of _____________________, 20___

HELIX BIOPHARMA CORP.

			
	Per:	  	
	 	Authorized Signatory	

Optionee acknowledges receipt of a copy of the Plan; represents that Optionee is familiar with the terms and provisions of the Plan; and hereby accepts this Option subject to all of the terms and provisions of the foregoing Option Agreement and the Plan.

					
	Signature of Optionee:	 	Date signed:Side Letter to Proppant Supply Agreement

 Exhibit 10.1 

August 26, 2011 
 Roch Romanson 
 Sr. Category Manager – Proppants 

Halliburton Energy Services, Inc. 
 10200
Bellaire Boulevard 
 Houston, Texas 77072 
 Re:        Amendment to Proppant Supply Agreement 

Dear Mr. Romanson: 
 This
letter agreement (this “Letter Agreement”) is delivered to amend that certain Proppant Supply Agreement, as amended (the “Agreement”), dated August 28, 2008, by and between CARBO Ceramics Inc., a Delaware
corporation (“Seller”), and Halliburton Energy Services, Inc, a Delaware corporation (“Buyer”), in accordance with Section 11.3 of the Agreement. Capitalized terms not otherwise defined herein shall have the
meaning ascribed to such terms in the Agreement. 
 Seller’s Terms of Conditions of Sale attached as Exhibit B to the
Agreement are hereby replaced with the Terms and Conditions of Sale attached hereto as Attachment 1. 
 Seller and Buyer
agree that the provisions of this Letter Agreement shall modify the Agreement and shall constitute a part of the Agreement as though fully set forth therein. This Letter Agreement shall be governed by and construed in accordance with the laws of the
State of Delaware. This Letter Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. 

If the foregoing is acceptable to you, please so indicate by signing and returning a copy of this Letter Agreement to Seller. 

 

			
	Sincerely,
	
	CARBO Ceramics Inc.
		
	 By:
	 	 /s/ Gary Kolstad

	 Name:
	 	Gary Kolstad
	 Title:
	 	President and Chief Executive Officer

 ACKNOWLEDGED AND AGREED: 
 Halliburton Energy Services, Inc. 
  

			
	 By:
	 	 /s/ Tim C. Moeller

	 Name:
	 	Tim C. Moeller
	 Title:
	 	VP Procurement & Materials

 ATTACHMENT 1 

CARBO CERAMICS INC. 
 TERMS AND CONDITIONS OF SALE 
 1. AGREEMENT OF SALE, ACCEPTANCE: Any acceptance
contained herein is expressly made conditional on Buyer’s assent to any terms contained herein that are additional to or different from those proposed by Buyer in its purchase order and, hence, any terms and provisions Buyer’s purchase
order which are inconsistent with the terms and conditions hereof shall not be binding on the Seller. Unless Buyer shall notify Seller in writing to, the contrary as soon as practicable after receipt hereof, acceptance of the terms and conditions
hereof by Buyer shall be deemed made and, in the absence of such notification, the sale and shipment by the Seller of the goods covered hereby shall be conclusively deemed to be subject to the terms and conditions hereof. 

2. ENTIRE CONTRACT: This contract constitutes the final and entire agreement between Seller and Buyer and any prior or contemporaneous
understandings or agreements, oral or written, are merged herein. 
 3. PRICES: The price to be paid by Buyer shall be the price in
effect at the date of actual delivery of the goods unless otherwise specified in writing by Seller. 
 4. TAXES: The price of the goods
does not include sales, use, excise, ad valorem, property or other taxes now or hereafter imposed, directly or indirectly, by any governmental authority or agency with respect to the manufacture, production, sale, delivery, consumption or use of the
goods covered by this contract. Buyer shall pay such taxes directly or reimburse Seller for any such taxes which it may be required to pay. 

5. PAYMENT: The specific terms of payment are as specified in writing by Seller. If the Buyer shall fail to make any payments in accordance with
the terms and provisions hereof, the Seller, in addition to its other rights and remedies, but not in limitation thereof, may, at its option, defer shipments or deliveries hereunder, or under any other contract with the Buyer, except upon receipt of
satisfactory security or of cash before shipment. 
 6. SHIPMENT; RISK OF LOSS; TITLE: The goods shall be shipped to a site mutually
agreed upon by Buyer and Seller, unless otherwise specified in writing by Seller. Risks of loss pass to Buyer upon delivery to the carrier. Title shall pass to Buyer on delivery of the goods to Buyer. 

7. DELIVERIES: The date of delivery provided herein is an approximation based on Seller’s best judgment and prompt receipt from the Buyer of
all necessary data regarding the goods. Unless otherwise expressly stated, Seller shall have the right to deliver all of the goods at one time or in portions from time to time within the time of delivery herein provided. The delivery of
nonconforming goods, or a default of any nature, in relation to one or more installments of this contract shall not substantially impair the value of this contract as a whole and shall not constitute a total breach of the contract as a whole,.

 8. DELAYS IN DELIVERIES: Seller shall, be excused for delay in delivery, may suspend performance and shall under no circumstances be
responsible for failure to fill any order or orders when due to acts of God or of the public enemy: fires, floods, riots, strikes, freight embargoes or transportation delays, inability to secure fuel, material supplies, or power on account of
general market shortages thereof, any existing or future laws, or acts of the Federal or of any State Government (including superficially but not exclusively any orders, rules or regulations issued by any official or agency of any such government)
affecting the conduct of Seller’s business, any cause beyond Seller’s reasonable control. 
 9. WARRANTY: Seller warrants that
the goods manufactured by the Seller when shipped are free from defects in materials and workmanship, provided, however, Seller shall have no obligation or liability under this warranty unless it shall have received prompt written notice specifying
such defect no later than one (1) year from the date of shipment. In the event of defects developing within that period under normal and proper use, Buyer agrees that its sole and exclusive remedy shall require only that the Seller, at its
option, repair, modify or replace the non-conforming goods f.o.b. Seller’s plant or accept the return of the non-conforming goods and refund the purchase price or part thereof, giving effect to the use or value received by Buyer. No goods shall
be returned to Seller without Seller’s prior written consent. In no event will Seller be liable for any damages, including consequential damages, resulting from the use of the product. 
 THE WARRANTY SPECIFIED IN THIS PARAGRAPH IS THE SOLE AND EXCLUSIVE WARRANTY RELATING TO THE GOODS AND IS IN SUBSTITUTION FOR AND IN LIEU OF ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED OR STATUTORY,
INCLUDING THE WARRANTY OF MERCHANTABILITY AND THE WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE, AS WELL AS ANY WARRANTY ARISING FROM COURSE OF DEALING, PERFORMANCE OR USAGE OF TRADE. 
 10. LAWS, CODES, REGULATIONS, SAFETY DEVICES: Compliance with laws, codes and regulations relating to the goods and their uses is the sole responsibility of Buyer, and Seller makes no warranty or
representation with respect thereto. Buyer assumes the 

 
responsibility for providing and installing any and all devices for protection, of safety, health and the environment and shall indemnify and hold harmless Seller against all expense, loss, or
damage which Seller may incur or sustain as a result of Buyer’s failure to do so, including associated legal costs and expenses. Buyer will not export or re-export the goods from the place and country of destination listed on Buyer’s
initial order form without Seller’s express prior and express written permission. 
 11. PATENTS: Seller shall, at its own expense,
assume the defense of any claim, suit or other proceeding brought against Buyer upon a claim that the goods furnished under this contract constitutes an infringement of any patent of the United States. Buyer agrees to cooperate in the defense of any
such proceeding and to provide information, assistance and authority necessary, therefor. Should the goods in such suit be held to constitute infringement and the use of the goods enjoined, the Seller shall, at its own expense and at its option,
procure for the Buyer the right to continue using such goods, replace them with substantially equivalent goods, modify them so they become non-infringing or refund the applicable portion of Buyer’s purchase price. Such actions shall constitute
Seller’s sole and exclusive obligation and liability with respect to infringement of intellectual property rights. 
 Buyer shall defend,
hold harmless, and indemnify Seller against all judgments, decrees, costs and expenses arising out of any action against Seller or its suppliers based on a claim that the manufacture or sale of goods hereunder constitutes infringement of any United
States letters patent, if such goods were manufactured pursuant to Buyer’s proprietary designs, specifications and/or formulae and were not normally offered for sale by Seller, provided, however, Seller shall give prompt written notice of the
claim or action and Seller shall give Buyer authority, information and assistance at Buyer’s expense. 
 12. LIABILITY: In no
event shall Seller’s obligation and liability under this contract extend to indirect, punitive, special, incidental or consequential damages or losses Buyer may suffer or incur in connection therewith, such as but not limited to loss of revenue
or profits, damages or losses as a result of Buyer’s inability to operate, or shut down of its plant or operations, loss of use of the goods or associated goods or cost of substitute goods, facilities or services, inability to fulfill contracts
with third parties, injury to good will, claims of customers and the like, nor shall it extend to damages or losses Buyer may suffer or incur as a result of claims, suits or other proceedings made or instituted against Buyer by third parties,
whether public or private in nature. 
 13. BUYER’S DEFAULT; TERMINATION: Buyer shall be liable to Seller for all damages or
losses, including loss of reasonable profits, and for costs and expenses, including attorney’s fees, sustained by Seller and arising from Buyer’s default under, or breach of, any of the terms and conditions of this contract. In the event
of any such default or breach, Seller may, without any obligation or liability to Buyer, terminate this contract forthwith by written notice to Buyer and such action by Seller shall not be deemed a waiver of any right or remedy with respect to such
default or breach. 
 14. ASSIGNMENT: No right or interest in this contract shall be assigned by Buyer without prior written agreement by
the Seller. No delegation of any obligation owed, or the performance of any obligation by the Buyer shall be made without prior written agreement by the Seller. 
 15. LAW GOVERNING: The interpretation and performance of this contract shall be in accordance with and shall be controlled by the laws of the State of Texas, without reference to the conflict of
laws provisions thereof, and specifically excludes the U.N. Convention on Contracts for International Sale of Goods. 
 16. MODIFICATIONS;
WAIVER: No waiver, alteration or modification of any of the provisions hereof shall be binding on the Seller unless made in writing and agreed to by a duly authorized official of the Seller. No waiver by the Seller of any one or more defaults by
the Buyer in the performance of any provisions of this contract shall operate or be construed as a waiver of any future default or defaults, whether of a like or of a different character. 
 17. ATTORNEY’S FEES: If suit or action is filed by Seller to enforce the provisions hereof or otherwise with respect to the subject matter of this contract, the Seller, in addition to its
other rights and remedies, but not in limitation thereof, shall be entitled to recover reasonable attorneys’ fees as fixed by the trial court, and if any appeal is taken from the decision of the trial court, reasonable attorneys’ fees as
fixed by the appellate court. 
 18. IMPORT AND EXPORT COMPLIANCE. Seller agrees that, in performance under this Agreement, it is solely
responsible for its required compliance with any applicable trade restriction and export laws and regulations of the United States and the jurisdiction in which Seller’s shipment of goods originates. When the goods (or part thereof) are subject
to export control laws and regulations imposed by the United States or a government where Seller’s shipment originates, Seller will upon request provide Buyer with applicable Export Commodity Classification Numbers and harmonized Tariff
Schedule Numbers per goods for export including certificates of manufacture in accordance with the origin rules imposed by such governmental authority. If said Goods are eligible for preferential tax or tariff treatment (such as free trade or
international agreement), Seller will use reasonable efforts to provide Buyer with the documentation required to participate in said treatment to the extent such documentation is in Seller’s possession and can be generated or provided by
Seller’s existing infrastructure systems and administrative staff. 

 19. FAIR LABOR STANDARDS ACT. Contractor shall comply with the Fair Labor Standards Act including the
requirement to pay a statutory minimum wage to its employees. Pursuant to the 1986 Immigration Reform and Control Act, Contractor shall verify that each of its employees is authorized to work in the United States and shall require signed I-9 forms
from each employee as well as proof of identity and authorization to work documents. Such I-9 forms will be maintained by Contractor as required by law and will be available for inspection by the Company upon the Company’s written request to
inspect such records.

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