Document:

Filed by Avantafile.com - The Pulse Beverage Corporation - Exhibit 10.13

NEITHER THIS NOTE NOR THE SECURITIES THAT ARE ISSUABLE
TO THE LENDER UPON CONVERSION HEREOF (COLLECTIVELY, THE "SECURITIES")
HAVE BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED
(THE “1933 ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER
JURISDICTION. NEITHER THE SECURITIES NOR ANY INTEREST
OR PARTICIPATION THEREIN MAY
BE OFFERED FOR SALE, SOLD,
TRANSFERRED OR ASSIGNED: (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE 1933 ACT AND COMPLIANCE WITH APPLICABLE STATE SECURITIES LAWS, OR
B) AN
OPINION OF COUNSEL, IN A FORM REASONABLY ACCEPTABLE TO THE ISSUER,
THAT REGISTRATION IS NOT REQUIRED UNDER THE 1933 ACT; OR (Il) UNLESS SOLD, TRANSFERRED OR ASSIGNED
PURSUANT TO RULE
144 UNDER THE 1933
ACT.

BY ACCEPTING THIS OBLIGATION, THE LENDER REPRESENTS AND WARRANTS THAT IT IS NOT A UNITED STATES PERSON (OTHER THAN AN
EXEMPT RECIPIENT DESCRIBED
IN SECTION 6049(B)(4) OF THE INTERNAL REVENUE CODE AND REGULATIONS THEREUNDER) AND THAT IT IS NOT
ACTING FOR OR ON BEHALF OF A UNITES STATES PERSON (OTHER THAN AN EXEMPT RECIPIENT DESCRIBED IN SECTION 6049(B)(4) OF THE INTERNAL REVENUE CODE AND THE REGULATIONS THEREUNDER).

AMENDED AND
RESTATED 

SENIOR SECURED REVOLVING
CONVERTIBLE PROMISSORY NOTE

	Issuance Date:  March 18, 2016	US$1,900,000

Effective Date:  March 18, 2016

FOR VALUE
RECEIVED, THE PULSE
BEVERAGE CORPORATION, a corporation
incorporated under the laws of the State of Nevada, whose address is 11680 N.
Huron Street, Northglenn, CO 80234 (the “Borrower”), promises to pay to the order of TCA GLOBAL
CREDIT MASTER FUND,
LP (hereinafter, together
with any holder hereof, “Lender”), whose address is 3960
Howard Hughes Parkway, Suite 500, Las Vegas, Nevada 89169, on or before November 6, 2016 or such
later date as agreed upon after the date hereof in a signed writing by the
Lender (the “Revolving Loan Maturity Date”), the lesser of: (i) One Million Nine Hundred Thousand and
No/100 United States Dollars (US$1,900,000); or (ii) the aggregate principal
amount outstanding under and pursuant to that certain Senior Secured Revolving Credit
Facility Agreement, dated as of July 31, 2015 and effective as of November 6,
2015, as amended by amendment no. 1 thereto, dated as of the Effective Date (“Amendment
No. 1”), executed by and between the Borrower, as borrower, and the
Lender, as lender (as amended, restated, supplemented or modified
from time to time, the “Credit Agreement”), together
with interest (computed
on the actual number of days elapsed on the basis of a 360 day year) on the aggregate principal
amount of all Revolving Loans outstanding from time
to time, as provided in the Credit
Agreement. Capitalized words and phrases
not otherwise defined herein shall have the meanings
assigned thereto in the Credit
Agreement.

This Amended and
Restated Senior Secured Revolving Convertible Promissory Note (this “Note”) amends, restates, replaces, and supersedes, in
its entirely, that certain Senior Secured Revolving Convertible Promissory
Note, dated as of July 31, 2015 and effective as of November 6, 2015 (the “Original
Note”), issued by the Borrower in favor of the Lender, in the principal amount
of Nine Hundred Thousand and No/100 United States Dollars (US$900,000).  The
obligations contained in the Original Note shall be referred to herein as the “Original
Obligations”).  It is the intention of
the Borrower and Lender that while this Note amends, restates, replaces and
supersedes the Original Note, in its entirety, it is not in payment or
satisfaction of the Original Obligations, but rather is the substitute of one
evidence of debt for another without any intent to extinguish the old.  Should
there be any conflict between any of the terms of the Original Note, and the
terms of this Note, the terms of this Note shall control.  This Note is not a
novation.

This Note evidences
a portion of the aggregate Revolving Loans incurred by Borrower under and pursuant
to the Credit Agreement, to which reference is hereby made for a statement of the
terms and conditions under which the Revolving Loan Maturity Date or any payment
hereon may be accelerated. The holder of this Note is entitled to all of the benefits
and security provided for in the Loan Documents, of even date herewith. All Revolving
Loans shall be repaid by Borrower, or any person liable for the payment of this
Note, on the Revolving Loan Maturity Date, unless payable sooner pursuant to the
provisions of the Credit Agreement.

Principal and interest shall be paid to Lender as set forth in the Credit Agreement, or at
such other place as the holder of this Note shall designate in writing to Borrower. Each Revolving Loan made by Lender, and all payments
on account of the principal
and interest thereof shall be recorded
on the books and records of Lender and the principal balance
as shown on such books and records, or any copy thereof certified
by an officer of Lender,
shall be rebuttable presumptive evidence
of the principal amount owing hereunder.

This
Note is being issued in connection with Amendment No. 1 and is also secured by
the Security Agreements and all other Loan Documents.  All of the agreements,
conditions, covenants, provisions, representations, warranties and stipulations
contained in any of the Loan Documents which are to be kept and performed by
the Borrower or the Guarantors are hereby made a part of this Note to the same
extent and with the same force and effect as if they were fully set forth
herein, and the Borrower and the Guarantors covenant and agree to keep and
perform them, or cause them to be kept or performed, strictly in accordance
with their terms.

Except for such notices
as may be required under the terms of the Credit Agreement, the Borrower, or any person liable for the payment of this Note, waives presentment, demand,
notice, protest, and all other demands, or notices, in connection with the delivery,
acceptance, performance, default, or enforcement of this Note, and assents to any extension
or postponement of the time of payment or any other indulgence.

Borrower shall be solely responsible for the payment
of any and all documentary stamps and other taxes applicable to the full face amount of this Note.

The Revolving
Loan evidenced hereby
has been made and/or issued and this Note has been
delivered at Lender's
main office set forth above. This Note shall be governed and 

construed in accordance with the laws of the State of Nevada,
in which state it shall be performed, and shall be binding upon Borrower, or any person liable for the
payment of this Note, and its legal representatives, successors, and assigns. Wherever
possible, each provision of the Credit Agreement and this Note shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of the Credit Agreement
or this Note shall be prohibited by or be invalid under such law, such
provision shall be severable, and be ineffective to the extent
of such prohibition or invalidity, without invalidating the remaining provisions of the Credit
Agreement or this Note.

Nothing herein contained,
nor in any instrument or transaction relating hereto, shall be construed or so operate
as to require the Borrower, or any person liable for the payment of this Note, to
pay interest in an amount or at a rate greater than the highest rate permissible
under applicable law. By acceptance hereof, Lender hereby warrants and represents
to Borrower that Lender has no intention of charging a usurious rate of interest.
 Should any interest or other charges paid by Borrower, or any parties liable for
the payments made pursuant to this Note result in the computation or earning of
interest in excess of the highest rate permissible under applicable law, any and
all such excess shall be and the same is hereby waived by the holder hereof. Lender
shall make adjustments in the Note or Credit Agreement, as applicable, as necessary
to ensure that Borrower will not be required to pay further interest in excess of
the amount permitted by applicable law. All such excess shall be automatically credited
against and in reduction of the outstanding principal balance.  Any portion of such
excess which exceeds the outstanding principal balance shall be paid by the holder
hereof to the Lender and any parties liable for the payment of this Note, it being
the intent of the parties hereto that under no circumstances shall Borrower, or
any party liable for the payments hereunder, be required to pay interest in excess
of the highest rate permissible under applicable law. 

THE HOLDER IS A
NON-U.S. PERSON AS THAT TERM IS DEFINED IN THE UNITED STATES INTERNAL REVENUE
CODE. IT IS HEREBY AGREED AND UNDERSTOOD THAT THE OBLIGATIONS HEREUNDER MAY BE
SOLD OR RESOLD ONLY TO NON­U.S. PERSONS. THE INTEREST PAYABLE HEREUNDER IS
PAYABLE ONLY OUTSIDE THE UNITED STATES. ANY U.S. PERSON WHO HOLDS THIS
OBLIGATION WILL BE SUBJECT TO LIMITATIONS UNDER THE UNITED STATES INCOME TAX
LAW. 

At any time and from time to time while this Note is outstanding,
this Note may be, at the sole option of the Lender upon
an Event of Default, convertible into shares of the common stock, par value $0.00001 per share (the “Common Stock”) of Borrower, in accordance
with the terms and conditions set forth below. 

(a)               
Voluntary Conversion.  At any time while this Note is outstanding, the Lender may, at its sole option upon an Event of
Default, convert all or any portion of the outstanding principal, accrued and unpaid
interest, and any other sums due and payable hereunder
or under the Credit Agreement (such total amount, the “Conversion Amount”) into shares of Common Stock of the Borrower
(the “Conversion Shares”) in an amount of shares equal to: (i) the Conversion Amount (the numerator); divided by (ii) eighty-five percent
(85%) of the lowest daily volume weighted
average price of the
Borrower's Common 

Stock during the five (5) Business Days immediately prior to
the Conversion Date, which price shall be  indicated in the conversion notice (in the form
attached hereto as Exhibit A, the “Conversion Notice”) (the denominator) (the “Conversion Price”). The Lender
shall submit a Conversion Notice indicating the Conversion Amount,
the number of Conversion
Shares issuable upon such conversion, and where the Conversion Shares should be delivered. 

(b)                 
The Lender's Conversion Limitations. The Borrower shall not
affect any conversion of this Note, and the Lender shall not have the right to
convert any portion of this Note, to the extent that after giving effect to the
conversion set forth on the Conversion Notice submitted by the Lender, the
Lender (together with the Lender's Affiliates and any Persons acting as a group
together with the Lender or any of the Lender's Affiliates) would beneficially
own shares of Common Stock in excess of the Beneficial Ownership Limitation (as
defined herein). To ensure compliance with this restriction, prior to delivery
of any Conversion Notice, the Lender shall have the right to request that the Borrower
provide to the Lender a written statement of the percentage ownership of the
Borrower's Common Stock that would be beneficially owned by the Lender and its
Affiliates in the Borrower if the Lender converted such portion of this Note
then intended to be converted by Lender. The Borrower shall, within two (2)
Business Days of such request, provide Lender with the requested information in
a written statement, and the Lender shall be entitled to rely on such written
statement from the Borrower in issuing its Conversion Notice and ensuring that
its ownership of the Borrower's Common Stock is not in excess of the Beneficial
Ownership Limitation.  The restriction described in this Section may be waived
by Lender, in whole or in part, upon notice from the Lender to the Borrower to
increase such percentage. 

For purposes
of this Note, the “Beneficial Ownership Limitation” shall be 4.99%
of the number of shares of Common
Stock outstanding immediately after giving effect to
the issuance of shares of Common Stock issuable upon conversion of this
Note.  The limitations contained in this Section shall apply to a successor
holder of this Note.  For purposes of this
Note, “Person” means an individual, a limited liability
company, a partnership, a joint venture,
a corporation, a trust, an unincorporated organization or a government or any department or agency thereof. 

(c)               
Mechanics of Conversion.  The conversion of this Note shall be conducted
in the following manner: 

(1)                 
  To convert this Note into shares
of Common Stock on any date set forth in the Conversion Notice by the Lender (the
“Conversion Date”), the Lender
shall transmit by facsimile or electronic mail (or otherwise deliver) a copy of
the fully executed Conversion Notice to the Borrower (or, under certain circumstances
as set forth below, by delivery of the Conversion Notice to the Borrower's transfer
agent). 

(2)                     
  Upon receipt by the Borrower
of a copy of a Conversion Notice, the Borrower shall as soon as practicable,
but in no event later than two (2) Business Days after receipt of such
Conversion Notice, send, via facsimile or electronic mail (or otherwise deliver)
a confirmation of receipt of such Conversion Notice (the “Conversion
Confirmation”) to the Lender indicating that the Borrower will
process such Conversion Notice in accordance with the terms herein. In the
event the Borrower fails to issue its Conversion Confirmation within said

two
(2) Business Day time period, the Lender shall have the absolute and
irrevocable right and authority to deliver the fully executed Conversion Notice
to the Borrower's transfer agent, and pursuant to the terms of the Credit Agreement,
the Borrower's transfer agent shall issue the applicable Conversion Shares to
Lender as hereby provided. Within five (5) Business  Days after the date of the
Conversion Confirmation (or the date of the Conversion Notice, if the Borrower
tails to issue the Conversion Confirmation), provided that the Borrower's
transfer agent is participating in the Depository Trust Company’s (“DTC”) Fast Automated Securities Transfer (“FAST”) program, the Borrower shall cause the transfer
agent to (or, if for any reason the Borrower fails to instruct or cause its
transfer agent to so act, then pursuant to the Credit Agreement, the Lender may
request and require the Borrower's transfer agent to) electronically transmit
the applicable Conversion Shares to which the Lender shall be entitled by
crediting the account of the Lender's prime broker with DTC through its Deposit
Withdrawal Agent Commission (“DWAC”) system, and provide proof satisfactory to the Lender of such delivery.
In the event that the Borrower's transfer agent is not participating in the DTC
FAST program and is not otherwise DWAC eligible, within five (5) Business Days
after the date of the Conversion Confirmation (or the date of the Conversion
Notice, if the Borrower fails to issue the Conversion Confirmation), the
Borrower shall instruct and cause its transfer agent to (or, if for any reason
the Borrower fails to instruct or cause its transfer agent to so act, then
pursuant to the Credit Agreement, the Lender may request and require the
Borrower's transfer agent to) issue and surrender to a nationally recognized
overnight courier for delivery to the address specified in the Conversion
Notice, a certificate, registered in the name of the Lender, or its designees,
for the number of Conversion Shares to which the Lender shall be entitled. To
effect conversions hereunder, the Lender shall not be required to physically
surrender this Note to the Borrower unless the entire principal amount of this
Note, plus all accrued and unpaid interest thereon, has been so converted.
Conversions hereunder shall have the effect of lowering the outstanding
principal amount of this Note in an amount equal to the applicable Conversion
Amount. The Lender and the Borrower shall maintain records showing the
principal amount(s) converted and the date of such conversion(s). The Lender,
and any assignee by acceptance of this Note, acknowledge and agree that, by
reason of the provisions of this paragraph, following conversion of a portion
of this Note, the unpaid and unconverted principal amount of this Note may be
less than the amount stated on the face hereof. 

(3)                 
  The Person(s) entitled to receive the shares of Common
Stock issuable upon a conversion of this Note shall be treated for all purposes
as the record holder(s) of such shares of Common Stock as of the Conversion Date. 

(4)              
If in the case of any
Conversion Notice, the certificate or certificates are not delivered to or as
directed by the Lender by the date required hereby, the Lender shall be
entitled to elect by written notice to the Borrower at any time on or before
its receipt of such certificate or certificates, to rescind such Conversion
Notice, in which event the Borrower shall promptly return to the Lender any
original  Note delivered to the Borrower and the Lender shall promptly return
to the Borrower the Common Stock certificates representing the principal amount
of this Note unsuccessfully tendered  for conversion to the Borrower. 

(5)                 
The Borrower's obligations to
issue and deliver the Conversion Shares upon conversion of this Note in
accordance with the terms hereof are absolute and unconditional, irrespective
of any action or inaction by the Lender to enforce the same, any

waiver or consent
with respect to any provision hereof, the recovery of any judgment against any
person or entity or any action to enforce the same, or any setoff,
counterclaim, recoupment, limitation or termination, or  any breach or alleged
breach by the Lender or any other person or entity of any obligation to  the
Borrower or any violation or alleged violation of law by the Lender or any
other person or entity, and irrespective of any other circumstance which might
otherwise limit such obligation of the Borrower to the Lender in connection
with the issuance of such Conversion Shares; provided, however, that such
delivery shall not operate as a waiver by the Borrower of any such action the
Borrower may have against the Lender. In the event the Lender of this Note shall
elect to convert any or all of the outstanding principal amount hereof and
accrued but unpaid interest thereon in accordance with the terms of this Note,
the Borrower may not refuse conversion based on any claim that the Lender or
anyone associated or affiliated with the Lender has been engaged in any
violation of law, agreement or for any other reason, unless an injunction from
a court, on notice to Lender, restraining and or enjoining conversion of all or
part of this Note shall have been sought and obtained, and the Borrower posts a
surety bond for the benefit of the Lender in the amount of 150% of the
outstanding principal amount of this Note, which is subject to the injunction,
which bond shall remain in effect until the completion of arbitration/litigation
of the underlying dispute and the proceeds of which shall be payable to such
Lender to the extent it obtains judgment.  In the absence of such injunction,
the Borrower shall issue Conversion Shares upon a properly noticed
conversion.  If the Borrower fails for any reason to deliver to the Lender
such certificate or certificates
representing Conversion Shares pursuant to timing and delivery requirements of this Note, the
Borrower shall pay to such Lender, in cash, as liquidated damages and not as
a penalty, for each $1,000 of principal amount being converted, $1.00 per day for each day after the
date by which such certificates should have been delivered until such certificates are delivered. Nothing herein shall limit a Lender's right to pursue actual damages
or declare an Event of Default
pursuant to the Credit Agreement,
this Note or any agreement
securing the indebtedness under this Note for the Borrower's failure to deliver
Conversion Shares within the period specified herein and such Lender
shall have the right to pursue all remedies available
to it hereunder, at law or in equity,
including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Lender from seeking to enforce damages
pursuant to any other
Section hereof or under applicable law. Nothing herein shall prevent
the Lender from having the Conversion Shares issued directly
by the Borrower's transfer
agent in accordance with the Credit Agreement,
in the event for any reason
the Borrower fails
to issue or deliver, or cause its transfer agent to issue and
deliver, the Conversion Shares to the Lender upon exercise
of Lender's conversion
rights hereunder. 

(6)                  
  The issuance of certificates for
shares of the Common Stock on conversion of this Note shall be made without charge
to the Lender hereof for any documentary stamp or similar taxes, or any other issuance
or transfer fees of any nature or kind that may be payable in respect of the issue
or delivery of such certificates, any such taxes or fees, if payable, to be paid
by the Borrower. 

(7)                  
  Borrower shall take all action
reasonably necessary to at all times have authorized, and reserved for the
purpose of issuance, such number of shares of Common Stock as shall be necessary
to effect the full conversion of the Note in accordance with its terms (the “Share
Reserve”).  If at any time the
Share Reserve is insufficient to effect the full conversion 

of the Note then
outstanding, Borrower shall increase the Share Reserve accordingly.  If
Borrower does not have sufficient authorized and unissued shares of Common
Stock available to increase the Share Reserve, Borrower shall call and hold a
special meeting of the shareholders within forty-five (45) days of such
occurrence, or take action by the written consent of the holders of a majority
of the outstanding shares of Common Stock, if possible, for the sole purpose of
increasing the number of shares authorized to an amount of shares equal to
three (3) times the Conversion Shares.  Borrower’s management shall recommend
to the shareholders to vote in favor of increasing the number of shares of
Common Stock authorized. 

(d)               
Adjustments to Conversion Price. 

(1)                   
  If the Borrower, at any time while this Note is outstanding: (i) pays a stock dividend
or otherwise makes a distribution or distributions payable in shares of Common
Stock on outstanding shares of Common Stock,
(ii) subdivides outstanding shares of Common Stock into a larger
number of shares, (iii) combines (including by way of a reverse stock split) outstanding shares of Common Stock
into a smaller number of shares,
or (iv) issues, in the event of a reclassification of shares of Common Stock, any
shares of capital
stock of the Borrower, then
the Conversion Price
shall be multiplied by a fraction, the numerator of which shall
be the number
of shares of Common Stock
(excluding any treasury shares
of the Borrower) outstanding immediately before such event,
and the denominator of which shall be the number of shares of Common Stock
outstanding immediately after such event. Any adjustment made pursuant to this Section
shall become effective immediately after the record
date for the determination of stockholders entitled
to receive such dividend or distribution and shall become
effective immediately after the effective
date in the case
of a subdivision, combination, or re-classification. 

(2)                   
If, at any time while this Note is outstanding: (i) the Borrower effects
any merger or consolidation of the Borrower
with or into another Person, (ii) the Borrower
effects any sale of all or substantially all of its assets in one
transaction or a series of related transactions, (iii) any tender offer or exchange offer (whether by the Borrower or another Person)
is completed pursuant
to which holders of Common Stock are permitted  to tender or exchange their shares for other securities, cash or property, or (iv) the Borrower effects
any reclassification of the Common Stock or any
compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged
for other securities, cash or property
(in any such case, a “Fundamental Transaction”), then upon any subsequent conversion of this Note, the Lender shall have the right
to receive, for each Conversion
Share that would have been issuable upon such conversion immediately prior to the occurrence
of such Fundamental Transaction, the same
kind and amount of
securities, cash or property as it would have been entitled to receive upon the occurrence of such Fundamental Transaction if it had been, immediately prior to such Fundamental
Transaction, the holder of one (1) share of Common
 Stock (the “Alternate Consideration”). For purposes of any such conversion, the determination of the Conversion Price shall be appropriately adjusted to apply
to such Alternate
Consideration based on the
amount of Alternate Consideration issuable
in respect of one (1) share of Common
Stock in such Fundamental Transaction, and the Borrower
shall apportion the Conversion Price among
the Alternate Consideration in a reasonable manner reflecting the relative value of
any different components of the Alternate
Consideration. If 

holders
of Common Stock are given any choice as
to the securities, cash or property to be received
in a Fundamental Transaction, then the Lender shall be given the same choice as to the Alternate Consideration it receives upon any conversion of this Note following such Fundamental Transaction. To the extent necessary to effectuate the foregoing provisions, any successor
to the Borrower or surviving
entity in such Fundamental Transaction shall issue
to the Lender a new note consistent with the foregoing provisions and evidencing the Lender's right to convert such note into Alternate
Consideration. The terms of any agreement pursuant to which a Fundamental Transaction is effected shall include terms requiring any such successor
or surviving entity to comply with the provisions of this
Section and insuring
that this Note (or any such replacement security) will be similarly
adjusted upon any subsequent transaction analogous to a Fundamental Transaction. 

(3)                  
  Whenever the Conversion Price is
adjusted pursuant to any provision
of this Note, the Borrower
shall promptly deliver
to Lender a notice setting forth the Conversion
Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment. 

(4)                  
If: (A) the Borrower shall
declare a dividend (or any other distribution in whatever form) on the Common
Stock, (B) the Borrower shall declare a special nonrecurring cash dividend on
or a redemption of the Common Stock, (C) the Borrower shall authorize the
granting to all holders of  the Common Stock of rights or warrants  to
subscribe for or purchase any shares of capital stock of any class or of any
rights, (D) the approval of any stockholders of the Borrower shall be required
in connection with any reclassification of the Common Stock, any 
consolidation  or merger to which the Borrower is a party, any sale or transfer
of all or substantially all of the assets of the Borrower, of any compulsory
share exchange whereby  the  Common Stock is converted into other securities,
cash or property, or (E) the Borrower shall authorize the voluntary or
involuntary dissolution, liquidation or winding up of the affairs of the
Borrower, then, in each case, the Borrower shall cause to be filed at each
office or agency maintained for the purpose of conversion of this Note, and shall
cause to be delivered to the Lender at its last address as it shall appear upon
the Borrower's records, at least twenty (20) calendar days prior to the
applicable record or effective date hereinafter specified, a notice stating:
(x) the date on which a record is to be taken for the purpose of such dividend,
distribution, redemption, rights or warrants, or if a record is not to be
taken, the date as of which the holders of the Common Stock of record to be
entitled to such dividend, distributions, redemption, rights or warrants are to
be determined, or (y) the date on which such reclassification, consolidation,
merger, sale, transfer or share exchange is expected to become effective or
close, and the date as of which it is expected that holders of the Common Stock
of record shall be entitled to exchange their shares of the Common Stock for
securities, cash or other property deliverable upon such reclassification,
consolidation, merger, sale, transfer or share exchange, provided that the
failure to deliver such notice or any defect therein or in the delivery thereof
shall not affect the validity of the corporate action required to be specified
in such notice. The Lender is entitled to convert this Note during the 10-day
period commencing on the date of such notice through the effective date of the
event triggering such notice. 

(e)               
  Make-Whole Rights. Upon
liquidation by the Lender of Conversion Shares issued pursuant to a Conversion
Notice, provided that the Lender realizes a net amount from such liquidation
equal to less than the Conversion Amount specified in the relevant Conversion 

Notice (such net realized amount, the “Realized Amount”), the Company shall issue to the Lender
additional shares of the Company’s Common Stock equal to: (i) the Conversion
Amount specified in the relevant Conversion Notice; minus (ii) the
Realized Amount, as evidenced by a reconciliation statement from the Lender (a
“Sale Reconciliation”) showing
the Realized Amount from the sale of the Conversion Shares; divided by (iii)
the average volume weighted average price of the Company’s Common Stock during
the five (5) Business Days immediately prior to the date upon which the Lender
delivers notice (the “Make-Whole Notice”) to the Company that such additional shares are requested by the Lender
(the “Make-Whole Stock Price”)
(such number of additional shares to be issued, the “Make-Whole
Shares”). Upon receiving the Make-Whole
Notice and Sale Reconciliation evidencing the number of Make-Whole Shares
requested, the Company shall instruct its transfer agent to issue certificates
representing the Make-Whole Shares, which Make-Whole Shares shall be issued and
delivered in the same manner and within the same time frames as set forth
herein. The Make-Whole Shares, when issued, shall be deemed to be validly
issued, fully paid, and non-assessable shares of the Company’s Common Stock.
Following the sale of the Make-Whole Shares by the Lender: (i) in the event
that the Lender receives net proceeds from such sale which, when added to the
Realized Amount from the prior relevant Conversion Notice, is less than the
Conversion Amount specified in the relevant Conversion Notice, the Lender shall
deliver an additional Make-Whole Notice to the Company following the procedures
provided previously in this paragraph, and such procedures and the delivery of
Make-Whole Notices and issuance of Make-Whole Shares shall continue until the
Conversion Amount has been fully satisfied; and (ii) in the event that the Lender
received net proceeds from the sale of Make-Whole Shares in excess of the
Conversion Amount specified in the relevant Conversion Notice, such excess
amount shall be applied to satisfy any and all amounts owed hereunder in excess
of the Conversion Amount specified in the relevant Conversion Notice. 

[-signature page
follows-]

IN WITNESS WHEREOF, the Borrower has executed this Note as of the date set forth
above.

	 	THE PULSE
      BEVERAGE CORPORATION

      By: ______________________________

        Name:
   Robert E. Yates

        Title:  Chief
    Executive Officer

	STATE OF ________________  	 )
	 	 ) 
SS.
	COUNTY OF ______________ 	 )

            The undersigned, a Notary
Public in and for the said County, in the State aforesaid, DO HEREBY CERTIFY
that Robert E. Yates, Chief Executive Officer of The Pulse Beverage Corporation,
a Nevada corporation, who is personally known to me to be the same person whose
name is subscribed to the foregoing, appeared before me this day in person and
acknowledged that he/she signed and delivered the said instrument as his/her
own free and voluntary act and as the free and voluntary act of said
corporation, for the uses and purposes therein set forth.

            GIVEN under my hand and
notarial seal this _____ day of ________________, 20____.

	 	 ______________________________________

                                                 Notary
        Public

                            My
        Commission Expires:

    ______________________________________

[Signature Page to Revolving Promissory Note]

EXHIBIT A 

NOTICE OF CONVERSION

            The
undersigned hereby elects to convert principal and/or interest under the Amended
and Restated Senior Secured Revolving Convertible Promissory Note (the “Note”)
of The Pulse Beverage Corporation, a corporation incorporated under the laws of
the State of Nevada (the “Company”), into shares of common stock,
par value $0.00001 per share (the “Common Shares”), of the
Company in accordance with the conditions of the Note, as of the date written
below.

            Based
solely on information provided by the Company to Lender, the undersigned
represents and warrants to the Company that its ownership of the Common Shares
does not exceed the Beneficial Ownership Limitation as specified under the
Note.

	Conversion Calculations	 
	Effective Date of Conversion:   	______________________________
	Principal
Amount and/or Interest to be Converted: 	______________________________
	Number of Common Shares to be Issued: 	______________________________

[HOLDER]

	 	By:                                                           

      Name:                                                      

      Title:                                                        

     Address:                                                 

                                                                     

4820-9660-0111, v.  1Exhibit 4.1

 

 

 

 

 

 

 

 

 

 

 

 

MAGNA INTERNATIONAL INC.

 

AMENDED AND RESTATED 2009 STOCK OPTION PLAN

 

 

 

August 8, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Approved by the Board of Directors:  August 8, 2013

 

- 2 -

 

ARTICLE 1

PURPOSE

 

	1.1	Purposes of this Plan

 

The purposes of this Plan are to:

 

		(a)	advance the interests of the Corporation by assisting it in attracting, retaining, motivating and rewarding key employees, officers and certain other eligible Participants of the Corporation and its Subsidiaries;

 

		(b)	motivate Participants to act in the long-term best interests of the Corporation; and

 

		(c)	align the interests of Participants with those of the Corporation’s shareholders.

 

ARTICLE 2

INTERPRETATION

 

	2.1	Definitions

 

When used herein, unless the context otherwise requires, the following terms have the following meanings, respectively:

 

“Blackout Period” means a period established by the Corporation from time to time in its own discretion during which officers, directors and/or applicable employees the Corporation and its Subsidiaries are prohibited from trading in Shares.

 

“Board” means the board of directors of the Corporation.

 

“Change in Control” means the occurrence of any of the following events:

 

		(a)	the completion of a transaction pursuant to which any Person hereafter acquires direct or indirect beneficial ownership of all of the Shares, including in connection with any acquisition, merger, consolidation, arrangement or similar transaction;

 

		(b)	the completion, directly or indirectly, in a single transaction or a series of related transactions, of the sale of all or substantially all of the Corporation’s assets to a Person other than a Person that was, prior to such sale, a Related Entity of the Corporation;

 

		(c)	the dissolution or liquidation of the Corporation, except in connection with the distribution of assets of the Corporation to one or more Persons that were Related Entities of the Corporation prior to such event; or

 

		(d)	any other event which, in the opinion of the Plan Administrator, reasonably constitutes a change in control of the Corporation.

 

“Change in Status” means the change in an Optionee’s relationship with the Corporation or a Subsidiary from that of an Employee Participant to a Consultant Participant, or vice versa.

 

“Code” means the United States Internal Revenue Code of 1986, as amended from time to time.

 

“Committee” means the Corporate Governance, Compensation and Nominating Committee of the Board, including any successor thereto.

 

“Consultant Participant” means an individual, other than an employee of the Corporation or a Subsidiary, who:

 

- 3 -

		(a)	is engaged to provide services to the Corporation or a Subsidiary, other than services provided in relation to a distribution of securities of the Corporation or a Subsidiary;

 

		(b)	provides the services under a written contract with the Corporation or a Subsidiary, either directly or indirectly through:  (i) a corporation of which the individual is an employee or shareholder, or (ii) a partnership of which the individual is an employee or partner; and

 

		(c)	spends or will spend a significant amount of time and attention on the business and affairs of the Corporation or a Subsidiary,

 

and includes where applicable, a Consultant Participant’s Permitted Assigns.

 

“Corporation” means Magna International Inc.

 

“Disabled” or “Disability” means the permanent and total incapacity of an Optionee as determined in accordance with procedures established by the Plan Administrator for purposes of this Plan.

 

“Employee Participant” means a current full-time, part-time or contract employee (other than a Consultant Participant) of the Corporation or a Subsidiary and includes, where applicable, an Employee Participant’s Permitted Assigns.

 

“Exercise Notice” means a notice in writing, in the form set out in Schedule B, signed by an Optionee and stating the Optionee’s intention to exercise a particular Option.

 

“Exercise Period” means the period of time (commencing on the Grant Date) during which an Option granted under this Plan may be exercised in accordance with this Plan.

 

“Exercise Price” means the price at which an Option Share may be purchased pursuant to the exercise of an Option.

 

“Fair Market Value” of a Share as of any date means the closing price of a Share on the immediately preceding trading day on the:

 

		(a)	TSX, in relation to Options denominated in Canadian dollars; and

 

		(b)	NYSE, in relation to Options denominated in U.S. dollars.

 

“Grant Date” means the effective date of grant specified by the Plan Administrator at the time it grants an Option; provided, however, that:  (a) such date shall not be prior to the date the Plan Administrator acts to grant the Option; and (b) if the Plan Administrator does not specify a date of grant, such date shall be the date on which the Plan Administrator acts to grant an Option.

 

“Insider” means an “insider” as defined in the TSX Company Manual.

 

“ISOs” has the meaning set forth in Section 4.11 of this Plan.

 

“NI 45-106” means National Instrument 45-106 – Prospectus and Registration Exemptions of the Canadian Securities Administrators.

 

“NYSE” means The New York Stock Exchange.

 

“OBCA” means the Business Corporations Act (Ontario) and the regulations promulgated thereunder.

 

- 4 -

“Option” means a right to purchase Shares under this Plan which is non-assignable and non-transferable unless otherwise approved by the Plan Administrator.

 

“Optionee” means a Participant who has been granted one or more Options.

 

“Option Agreement” means a written document signed by the Corporation in the form attached as Schedule A, subject to any amendments or additions thereto as may, in the discretion of the Plan Administrator, be necessary or advisable, evidencing the terms and conditions on which an Option has been granted under this Plan.

 

“Option Shares” means Shares that shall be issued by the Corporation upon the exercise of outstanding Options.

 

“Participants” means Employee Participants and Consultant Participants, and “Participant” means any one Employee Participant or Consultant Participant.

 

“Permitted Assign” has the meaning ascribed to the term “permitted assign” in NI 45‐106.

 

“Person” includes an individual, sole proprietorship, partnership, unincorporated association, unincorporated syndicate, unincorporated organization, trust, body corporate, and a natural person in his or her capacity as trustee, executor, administrator or other legal representative.

 

“Plan” means this Magna International Inc. Amended and Restated 2009 Stock Option Plan, as further amended from time to time in accordance with the provisions hereof.

 

“Plan Administrator” means the Board, except to the extent the Board has delegated administration of this Plan to the Committee in the Committee’s Charter, by resolution or otherwise.

 

“Prior Plan” means the Corporation’s Amended and Restated Incentive Stock Option Plan, approved by shareholders in 1987, as subsequently amended and restated.

 

“Related Entity” has the meaning ascribed to the term “related entity” in NI 45-106.

 

“Retirement” means, in the context of an Employee Participant, retirement from active employment with the Corporation or a Subsidiary at or after age 60 or, for purposes of this Plan, with the consent of an officer of the Corporation as may be designated by the Plan Administrator, at or after such earlier age and upon the completion of such years of service as the Plan Administrator may specify.

 

“Security Based Compensation Arrangement” has the meaning ascribed to such term in the TSX Company Manual.

 

“Shares” means the Common Shares in the capital of the Corporation.

 

“Subsidiary” has the same meaning ascribed thereto in the OBCA.

 

“Termination Date” means:

 

		(a)	in the case of an Optionee whose employment with the Corporation or a Subsidiary terminates in the circumstances set out in Section 4.7(a) or Section 4.7(b), the date designated by the Corporation or a Subsidiary, as applicable, as the last day of such Optionee’s employment with the Corporation or the Subsidiary, as applicable; provided that, in the case of termination of employment by voluntary resignation by the Optionee, such date shall not be earlier than the date that notice of resignation was given, and “Termination Date” specifically does not mean the expiry date of any period of notice of termination (or payment 

 

- 5 -

 

in lieu of such notice) that the Corporation or the Subsidiary, as applicable, may be required at law to provide to the Optionee;

 

		(b)	in the case of an Optionee whose consulting relationship with the Corporation or a Subsidiary, as applicable, terminates in the circumstances set out in Section 4.7(c) or Section 4.7(d), the date designated by the Corporation or the Subsidiary, as applicable, as the date on which such Optionee’s consulting relationship is terminated; provided that, in the case of voluntary termination of the consulting relationship by the Optionee, such date shall not be earlier than the date that notice of voluntary termination was given, and “Termination Date” specifically does not mean the expiry date of any period of notice of termination (or payment in lieu of such notice) that the Corporation or the Subsidiary, as applicable, may be required to provide to the Optionee under the terms of the consulting agreement;

 

		(c)	in the case of an Optionee who experiences a Change in Status during the Exercise Period, the termination date determined in accordance with the immediately preceding paragraphs (a) or (b) above, as applicable, at the time his or her last such employment or consulting relationship with the Corporation or a Subsidiary, as applicable, terminates and is not replaced; and

 

		(d)	in the case of an Optionee whose employment or consulting relationship with the Corporation or a Subsidiary, as applicable, terminates in the circumstances set out in Section 4.7(e), the closing date of such sale of a business, business unit or Subsidiary.

 

“TSX” means the Toronto Stock Exchange.

 

“TSX Company Manual” means the Toronto Stock Exchange Company Manual.

 

	2.2	Interpretation

 

		(a)	This Plan is created under and is to be governed, construed and administered in accordance with the laws of the Province of Ontario and the laws of Canada applicable therein.

 

		(b)	Headings of Articles and Sections are inserted for convenience of reference only and do not affect the construction or interpretation of this Plan.

 

		(c)	Where the word “including” or “includes” is used in this Plan, it means “including (or includes) without limitation”.

 

		(d)	Whenever the Plan Administrator is to exercise discretion in the administration of the terms and conditions of this Plan, the term “discretion” means the sole and absolute discretion of the Plan Administrator.

 

		(e)	As used herein, the terms “Article”, “Section”, “Subsection” and “clause” mean and refer to the specified Article, Section, Subsection and clause of this Plan, respectively.

 

		(f)	Words importing the singular include the plural and vice versa, and words importing any gender include any other gender.

 

		(g)	A reference in this Plan to a statute, rule or regulation refers to that statute, rule or regulation as it existed as of the date this Plan was approved or last amended by the Board.

 

- 6 -

		(h)	Unless otherwise specified, all references to money amounts are to Canadian currency.

 

		(i)	Any reference herein to a number of Shares reflects the stock split effected by the Corporation by way of stock dividend on November 24, 2010.

 

ARTICLE 3

PLAN ADMINISTRATION

 

	3.1	Plan Administration

 

This Plan shall be administered by the Plan Administrator and, subject to the provisions of this Plan, the Plan Administrator has sole and complete authority and discretion to:

 

		(a)	determine the Participants to whom Options may be granted;

 

		(b)	grant Options in such amounts and on such terms and conditions as it determines, including:

 

		(i)	the time or times at which Options may be granted;

 

		(ii)	subject to Section 4.2, the Exercise Price thereof;

 

		(iii)	the time or times when each Option becomes exercisable and, subject to Section 4.3, the duration of the Exercise Period;

 

		(iv)	whether restrictions or limitations are to be imposed on the Option Shares and the nature of such restrictions or limitations, if any;

 

		(v)	any acceleration of exercisability or waiver of termination regarding any Option, based on such factors as the Plan Administrator may determine and applicable law may permit; and

 

		(vi)	to cancel, amend, adjust or otherwise change any Option under such circumstances as the Plan Administrator may consider appropriate in accordance with the provisions of this Plan;

 

		(c)	interpret this Plan and adopt, amend, prescribe and rescind administrative guidelines and other rules and regulations relating to this Plan; and

 

		(d)	make all other determinations and take all other actions necessary or advisable for the implementation and administration of this Plan.

 

	3.2	Delegation of Plan Administration

 

		(a)	The Plan Administrator shall administer this Plan pursuant to the terms hereof.  To the extent permitted by applicable law, the Board may, from time to time, delegate to the Committee all or any of the powers conferred on the Plan Administrator pursuant to Section 3.1.  In the event of such a delegation, the Committee will exercise the powers delegated to it by the Board in the manner and on the terms authorized by the Board.  Any decision made or action taken by the Committee arising out of or in connection with the administration or interpretation of this Plan in this context is final, conclusive and binding.

 

	 	
(b)

	
The day-to-day administration of this Plan may be delegated to such officers and employees of the Corporation as the Plan Administrator determines.

 

- 7 -

	3.3	Eligibility

 

All Participants are eligible to participate in this Plan, subject to Subsections 4.6(d) and 4.7(f).  Eligibility to participate does not confer upon any Participant any right to be granted Options pursuant to this Plan.  The extent to which any Participant is entitled to be granted Options pursuant to this Plan shall be determined in the discretion of the Plan Administrator, provided, however, that the number of Shares:

 

		(a)	issued to Insiders of the Corporation, within any one-year period; and

 

		(b)	issuable to Insiders of the Corporation, at any time, 

 

under this Plan, or when combined with all of the Corporation’s other Security-Based Compensation Arrangements, shall not exceed 10% of the total issued and outstanding Shares, respectively.

 

	3.4	Total Shares Subject to Options

 

		(a)	The aggregate number of Shares that may be issued pursuant to the exercise of Options shall not exceed sixteen million (16,000,000).  No Option may be granted if such grant would have the effect of causing the total number of Shares issuable upon the exercise of Options to exceed the above-noted total number of Shares reserved for issuance pursuant to this Plan.

 

		(b)	To the extent any Options terminate for any reason prior to exercise in full or are surrendered or cancelled (in accordance with the terms of this Plan and/or an Option Agreement), the Shares subject to such Options shall be added back to the number of Shares reserved for issuance under this Plan and such Shares shall again become available for grant under this Plan.

 

	3.5	Option Agreements

 

All grants of Options under this Plan shall be evidenced by Option Agreements.  Such Option Agreements shall be subject to the applicable provisions of this Plan and shall contain such provisions as are required by this Plan and any other provisions that the Plan Administrator may direct.

 

	3.6	Non-transferability

 

Subject to Section 4.6 and the rules and policies of the TSX and NYSE (if applicable), as well as applicable law, Options granted under this Plan may only be exercised during the lifetime of the Participant and must be exercised personally.  Except to the extent permitted by the Plan Administrator, no assignment or transfer of Options to any Person other than a Permitted Assign, whether voluntary, involuntary, by operation of law or otherwise, vests any interest or right in such Options whatsoever in any assignee or transferee, and immediately upon any assignment or transfer, or any attempt to make the same, such Options shall terminate and be of no further force or effect.  If Options have been granted or transferred to a corporation pursuant to this Section 3.6 when such transfer is permitted by such applicable rules, policies and law, such Options shall terminate and be of no further force or effect if at any time the Optionee should cease to beneficially own, directly or indirectly, a majority of the issued and outstanding shares of such corporation.

 

ARTICLE 4

GRANT OF OPTIONS

 

	4.1	Grant of Options

 

		(a)	The Plan Administrator may grant Options to any Participant from time to time, subject to the provisions of this Plan and such other terms and conditions as the Plan Administrator may prescribe.

 

- 8 -

		(b)	Notwithstanding Subsection 4.1(a), the Grant Date shall not fall during a Blackout Period.

 

	4.2	Exercise Price

 

The Exercise Price per Option Share purchasable pursuant to an Option shall be:

 

		(a)	no less than the Fair Market Value of a Share on the Grant Date, in the case of:

 

		(i)	Options which are not granted as ISOs; and

 

		(ii)	Options granted as ISOs, other than as contemplated by Subsection 4.11(d); and

 

		(b)	110% of the Fair Market Value of a Share on the Grant Date, in the case of Options granted as ISOs as contemplated by Subsection 4.11(d).

 

	4.3	Term of Options

 

Subject to any accelerated termination as set forth in this Plan and unless otherwise specified by the Plan Administrator, each Option expires on the seventh (7th) anniversary of the Grant Date.  Notwithstanding the foregoing sentence, if an Option is due to expire on a date that falls within, or within two business days after the end of, a Blackout Period to which an Optionee is subject, the expiration date of such Option shall be the tenth (10th) business day following the expiration of the Blackout Period.

 

	4.4	Exercise Period

 

		(a)	Unless otherwise specified by the Plan Administrator at the time of granting an Option and except as otherwise provided in this Plan, each Option granted pursuant to Subsection 4.1(a) shall vest and be exercisable in instalments as follows:

 

	
Proportion of Option Shares that may be Purchased

	 	
Exercise Period

	
1/3

	 	
On the first anniversary of the Grant Date

	
1/3

	 	
On the second anniversary of the Grant Date

	
1/3

	 	
On the third anniversary of the Grant Date

		(b)	Except as may otherwise be provided in the Option Agreement and subject to Section 4.9, once an instalment becomes exercisable, it shall remain exercisable until expiration or termination of the Option.  Each Option or instalment may be exercised at any time or from time to time, in whole or in part, for up to the total number of Option Shares with respect to which it is then exercisable.

 

		(c)	Subject to the provisions of this Plan and any Option Agreement, Options shall be exercised by means of a fully completed Exercise Notice delivered to the Corporation.

 

	4.5	Payment of Exercise Price

 

		(a)	The Exercise Notice must be accompanied by payment in full of the aggregate Exercise Price for the Option Shares to be purchased, together with all applicable withholding or other taxes required to be collected and remitted by the Corporation or a Subsidiary, as applicable, to the applicable taxing authority.

 

		(b)	No Option Shares shall be issued or transferred until the full Exercise Price and applicable taxes have been received by the Corporation.  As soon as practicable after receipt of any Exercise Notice and full payment, the Corporation shall deliver to the 

 

- 9 -

 

 

Optionee a certificate or certificates representing the Option Shares or otherwise satisfy delivery of the Option Shares by electronic means.

 

	4.6	Accelerated Termination of Options – Death, Disability or Retirement

 

		(a)	Death of Optionee:  Upon the death of an Optionee, any Options of such Optionee (whether or not vested and exercisable) may be exercised (including by his or her legal representative) until the earlier of:

 

		(i)	the date which is one (1) year from the Optionee’s date of death; and

 

		(ii)	the date on which the Exercise Period otherwise would have expired but for acceleration pursuant to this Section 4.6.

 

		(b)	Disability or Retirement of Employee:  Where an Optionee’s employment with the Corporation or Subsidiary, as applicable, terminates by reason of Disability or Retirement, any Options of such Optionee (whether or not vested and exercisable) may be exercised (including by his or her legal representative) until the earlier of:

 

		(i)	the date which is three (3) years from the date of the Optionee’s Disability or Retirement; and

 

		(ii)	the date on which the Exercise Period otherwise would have expired but for acceleration pursuant to this Section 4.6.

 

		(c)	Disability or Completion of Service of Consultant:  Where an Optionee’s consulting relationship with the Corporation or a Subsidiary, as applicable, terminates by reason of Disability or completion of service under any applicable consulting agreement, any Options of the Optionee (whether or not vested and exercisable) may be exercised (including by his or her legal representative) until the earlier of:

 

		(i)	the date which is one (1) year from the Optionee’s date of Disability or completion of service; and

 

		(ii)	the date on which the Exercise Period otherwise would have expired but for acceleration pursuant to this Section 4.6.

 

		(d)	An Optionee’s eligibility to receive further grants of Options under this Plan ceases as of the date of the Optionee’s death, Disability or Retirement.

 

	4.7	Accelerated Termination of Options – Other Termination of Employment or Services

 

		(a)	Termination of Employment Without Cause or Voluntary Resignation by Employee:  Where an Optionee’s employment with the Corporation or Subsidiary, as applicable, terminates by reason of:

 

		(i)	termination without cause (whether such termination occurs with or without any or adequate reasonable notice, or with or without any or adequate compensation in lieu of such reasonable notice); or

 

		(ii)	voluntary resignation by Optionee,

 

then any vested Options held by such Optionee which are exercisable at the Termination Date continue to be exercisable until the earlier of:

 

		(A)	the date that is three (3) months after the Termination Date; and

 

- 10 -

		(B)	the date on which the Exercise Period of the particular Option expires, 

 

unless otherwise determined by the Plan Administrator, in its discretion.  Any Options held by such Optionee which are not exercisable at the Termination Date immediately expire and shall be cancelled on the Termination Date.

 

		(b)	Termination of Employment With Cause:  Where an Employee Participant’s employment is terminated for cause by the Corporation or Subsidiary, as applicable, then all Options held by such Employee Participant, whether or not vested and exercisable at the Termination Date, immediately expire and shall be cancelled on the Termination Date, unless otherwise determined by the Plan Administrator, in its discretion.

 

		(c)	Termination of Consulting Relationship Without Breach or Termination by Consultant:  Where a Consultant Participant’s consulting relationship is:

 

		(i)	terminated by the Corporation or a Subsidiary, as applicable, for any reason whatsoever other than for breach (whether or not such termination is effected in compliance with any termination provisions contained in the relevant consulting agreement); or

 

		(ii)	voluntarily terminated by the Consultant Participant pursuant to the terms of the consulting agreement,

 

then any vested Options held by such Consultant Participant which are exercisable at the Termination Date shall continue to be exercisable by such Consultant Participant until the earlier of:

 

		(A)	the date that is three (3) months from the Termination Date of such Consultant Participant; and

 

		(B)	the date on which the Exercise Period of the particular Option expires,

 

unless otherwise determined by the Plan Administrator.  Any Options held by such Consultant Participant which are not exercisable at the Termination Date immediately expire and are cancelled on such date.

 

		(d)	Termination of Consulting Relationship Due to Breach:  Where a Consultant Participant’s consulting relationship is terminated by the Corporation or Subsidiary, as applicable, for breach of the consulting agreement (whether or not such termination is effected in compliance with any termination provisions contained in the relevant consulting agreement), then any Options held by such Consultant Participant, whether or not such Options are exercisable at the Termination Date, immediately expire and are cancelled on the Termination Date, unless otherwise determined by the Plan Administrator, in its discretion.

 

		(e)	Termination on Disposition of Business, Business Unit or Subsidiary:  Where the Corporation sells or otherwise disposes of a business, business unit or Subsidiary, the vested Options which are exercisable at the Termination Date by an Optionee whose employment or consulting relationship continues with such business, business unit or former Subsidiary immediately following completion of such sale or disposition, continue to be exercisable until the earlier of:

 

		(i)	the date which is one (1) year after the Termination Date; and

 

		(ii)	the date on which the Exercise Period otherwise would have expired but for acceleration pursuant to this Section 4.7.

 

- 11 -

		(f)	Cessation of Eligibility:  A Participant’s eligibility to receive grants of Options under this Plan ceases as of the date that the Corporation or Subsidiary, as applicable, provides the Participant with written notification that his or her employment or consulting relationship, as applicable, is terminated, notwithstanding that such date may be prior to the Termination Date.

 

		(g)	Change in Status Alone Does Not Trigger Acceleration of Termination:  The occurrence of a Change in Status alone does not trigger the accelerated termination of the Exercise Period of any Options.  Where the employment or consulting relationship of an Optionee is terminated following a Change in Status, the applicable accelerated termination provision of Section 4.6 or 4.7 will be applied with reference to the type of relationship the Optionee had with the Corporation or a Subsidiary, as applicable, on the Termination Date.

 

	4.8	Discretion to Permit Exercise

 

Notwithstanding the provisions of Sections 4.6 and 4.7, the Plan Administrator may, in its discretion, at any time prior to or following the events contemplated in such sections, permit the exercise of any or all Options held by the Optionee in the manner and on the terms authorized by the Plan Administrator, provided that the Plan Administrator shall not, in any case, authorize the exercise of an Option beyond the expiration of the Exercise Period (as determined by excluding the impact of Sections 4.6 and 4.7) of the particular Option.

 

	4.9	Change in Control

 

		(a)	Notwithstanding anything else in this Plan or any Option Agreement, the Plan Administrator may, without the consent of any Optionee, take such steps as are necessary or desirable to cause the conversion or exchange of any outstanding Options into or for options, rights or other securities of substantially equivalent value (or greater value), as determined by the Plan Administrator in its discretion, in any entity participating in or resulting from a Change in Control.

 

		(b)	Upon the Corporation entering into an agreement relating to, or otherwise becoming aware of, a transaction which, if completed, would result in a Change in Control, the Corporation shall give written notice of the proposed transaction to all Optionees, together with a description of the effect of such Change in Control on outstanding Options, not less than 10 business days prior to the closing of the transaction resulting in the Change in Control.

 

		(c)	Upon the Corporation entering into an agreement relating to, or otherwise becoming aware of, a transaction which, if completed, would result in a Change in Control, the Plan Administrator may accelerate the vesting of any or all outstanding Options to provide that, notwithstanding Section 4.4 or any Option Agreement, such outstanding Options shall be fully vested and conditionally exercisable upon (or prior to) the completion of the transaction resulting in the Change in Control:  (i) subject to such specific terms and conditions as may be specified by the Plan Administrator; and (ii) provided that the Plan Administrator shall not authorize the exercise of Options beyond the Expiry Date of the Options.  In the event the Plan Administrator elects to accelerate the vesting of outstanding Options, then any Options remaining unexercised at the close of business on the business day immediately preceding the closing date of the Change in Control transaction shall terminate and expire upon the completion of the Change in Control transaction.  If, for any reason, the Change in Control transaction is not completed, the acceleration of the vesting and conditional exercise of the Options shall be retracted and vesting shall instead revert to that in effect immediately prior to the application of this paragraph by the Plan Administrator.

 

- 12 -

	4.10	Conditions of Exercise

 

Each Optionee shall, when requested by the Corporation, sign and deliver all such documents relating to the granting or exercise of Options which the Corporation deems necessary or desirable.

 

	
4.11

	
Incentive Stock Options

 

The following provisions shall apply, in addition to the other provisions of this Plan which are not inconsistent therewith, to Options intended to qualify as incentive stock options (“ISOs”) under Section 422 of the Code:

 

		(a)	Options may be granted as ISOs only to individuals who are employees of the Corporation or any present or future “subsidiary corporation” or “parent corporation” as those terms are defined in Section 424 of the Code (collectively, “Related Corporations”) and Options shall not be granted as ISOs to independent contractors;

 

		(b)	for purposes of Section 4.6 of the Plan, “Disability” shall mean “permanent and total disability” as defined in Section 22(e)(3) of the Code;

 

		(c)	if an Optionee ceases to be employed by the Corporation and/or all Related Corporations other than by reason of death or Disability, Options shall be eligible for treatment as ISOs only if exercised no later than three months following such termination of employment;

 

		(d)	the Exercise Price in respect of Options granted as ISOs to employees who own more than 10% of the combined voting power of all classes of stock of the Corporation or a Related Corporation (a “10% Stockholder”) shall be not less than 110% of the Fair Market Value per Share on the Grant Date and the term of any ISO granted to a 10% Stockholder shall not exceed five years measured from the Grant Date;

 

		(e)	Options held by an Optionee shall be eligible for treatment as ISOs only if the fair market value (determined as at the Grant Date) of the Shares with respect to which such Options and all other options intended to qualify as “incentive stock options” under Section 422 of the Code held by such individual and granted under the Plan or any other plan of a Related Corporation and which are exercisable for the first time by such individual during any one calendar year does not exceed U.S.$100,000; and

 

		(f)	by accepting an Option granted as an ISO under the Plan, each Optionee agrees to notify the Corporation in writing immediately after such Optionee makes a “Disqualifying Disposition” of any stock acquired pursuant to the exercise of such ISO; for this purpose, a Disqualifying Disposition is any disposition occurring on or before the later of (a) the date two years following the date the ISO was granted or (b) the date one year following the date the ISO was exercised.

 

- 13 -

ARTICLE 5

SHARE CAPITAL ADJUSTMENTS

 

	5.1	General

 

The existence of any Options does not affect in any way the right or power of the Corporation or its shareholders to:

 

		(a)	make, authorize or determine any adjustment, recapitalization, reorganization or any other change in the Corporation’s capital structure or its business, or any amalgamation, combination, merger or consolidation involving the Corporation;

 

		(b)	create or issue any bonds, debentures, Shares or other securities of the Corporation or to determine the rights and conditions attaching thereto;

 

		(c)	effect the dissolution or liquidation of the Corporation or any sale or transfer of all or any part of its assets or business; or

 

		(d)	effect any other corporate act or proceeding, whether of a similar character or otherwise, whether or not any such action referred to in this section would have an adverse effect on this Plan or any Option granted hereunder.

 

	5.2	Reorganization and Other Events Affecting the Corporation’s Capital

 

Should the Corporation effect a redivision, subdivision, consolidation, recapitalization or any similar transaction to any of the foregoing, or payment of a special dividend or stock dividend (other than a stock dividend that is in lieu of a cash dividend), or should any other change be made in the capitalization of the Corporation, and in the event of an amalgamation, arrangement, consolidation, combination, merger or other reorganization involving the Corporation by exchange of Shares, by sale or lease of assets, spin-off or otherwise (other than a Change in Control), that, in the opinion of the Plan Administrator, would warrant the amendment or replacement of any existing Options in order to:

 

		(a)	adjust the number of Shares that may be acquired on the exercise of any outstanding Options;

 

		(b)	modify the Exercise Price of any outstanding Options in order to preserve proportionately the rights and obligations of the Optionees;

 

		(c)	provide that the Options shall be exercisable for shares of an entity other than the Corporation; and/or

 

		(d)	make any other change in order to preserve proportionately the rights and obligations of the Optionees,

 

the Plan Administrator shall authorize such steps to be taken as may be equitable and appropriate to that end.

 

	5.3	Immediate Exercise of Options

 

Where the Plan Administrator determines that the steps described in Section 5.2 would not preserve proportionately the rights and obligations of the Optionees in the circumstances or otherwise determines that it is appropriate, the Plan Administrator may permit the immediate exercise of any outstanding Options that are not otherwise exercisable.

 

- 14 -

	5.4	Issue by Corporation of Additional Shares

 

Except as expressly provided in this Article 5, neither the issue by the Corporation of shares of any class or securities convertible into or exchangeable for shares of any class, nor the conversion or exchange of such shares or securities, affects, and no adjustment by reason thereof is to be made with respect to:

 

		(a)	the number of Shares that may be acquired on the exercise of any outstanding Options; or

 

		(b)	the Exercise Price of any outstanding Options.

 

	5.5	Fractions

 

No fractional Shares shall be issued on the exercise of an Option.  Accordingly, if as a result of any adjustment under Section 5.2 an Optionee would become entitled to a fractional Share, the Optionee has the right to acquire only the adjusted number of full Shares and no payment or other adjustment shall be made with respect to the fractional Shares so disregarded.

 

	5.6	Conditions of Exercise

 

The Plan and each Option are subject to the requirement that, if at any time the Plan Administrator determines that the listing, registration or qualification of the Shares subject to such Option upon any securities exchange or under any provincial, state or federal law, or the consent or approval of any governmental body, securities exchange or of the holders of the Shares generally, is necessary or desirable as a condition of or in connection with the granting of such Option or the issue or purchase of Shares thereunder, no such Option may be granted or exercised in whole or in part unless such listing, registration, qualification, consent or approval has been effected or obtained free of any conditions not acceptable to the Plan Administrator.  The Optionees shall, to the extent applicable, cooperate with the Corporation in relation to such listing, registration, qualification, consent or other approval and shall have no claim or cause of action against the Corporation or any of its officers or directors as a result of any failure by the Corporation to obtain or to take any steps to obtain any such registration, qualification or approval.

 

ARTICLE 6

MISCELLANEOUS PROVISIONS

 

	6.1	Legal Requirement

 

The Corporation is not obligated to grant any Options, issue any Shares or other securities, make any payments or take any other action if, in the opinion of the Plan Administrator, such action would constitute a violation by an Optionee or the Corporation of any provision of any applicable statutory or regulatory enactment of any government or government agency or if such action would give rise to any obligation on the part of the Corporation to register as a dealer or to file a prospectus under applicable securities laws (unless the Corporation chooses to comply with such obligation).

 

	6.2	Rights of Participant/Optionee

 

No Participant has any claim or right to be granted an Option (including, without limitation, an Option granted in substitution for any Option that has expired pursuant to the terms of this Plan).  No Optionee has any rights as a shareholder of the Corporation in respect of Shares issuable on the exercise of rights to acquire Shares under any Option until the issuance to the Optionee of such Shares.

 

	6.3	Termination

 

		(a)	The Plan shall terminate and, for greater certainty, all unexercised Options shall expire following the completion of a Change in Control, provided that the Plan Administrator accelerates the vesting of Options pursuant to Section 4.9.

 

- 15 -

		(b)	The Plan Administrator may terminate this Plan at any time without shareholder approval.  The termination of this Plan shall have no effect on outstanding Options, which shall continue in effect in accordance with their terms and conditions and the terms and conditions of this Plan.

 

	6.4	Participation in this Plan

 

The participation of any Participant in this Plan is entirely voluntary and not obligatory and shall not be interpreted as conferring upon such Participant any rights or privileges other than those rights and privileges expressly provided in this Plan.  In particular, participation in this Plan does not constitute a condition of employment or service nor a commitment on the part of the Corporation or any Subsidiary to ensure the continued employment or service of such Participant.  The Plan does not provide any guarantee against any loss that may result from fluctuations in the market value of the Shares.  The Corporation does not assume responsibility for the personal income or other tax consequences for the Participants and they are advised to consult with their own tax advisors.

 

	6.5	Personal Information

 

Each Participant shall provide the Corporation with all information (including personal information) required by the Corporation in order to administer to the Plan.  Each Participant acknowledges that information required by the Corporation in order to administer the Plan may be disclosed to third parties in connection with the administration of the Plan.  Each Participant consents to such disclosure and authorizes the Corporation to make such disclosure on the Participant’s behalf.

 

	6.6	Amendments

 

The Board may amend, suspend or discontinue the Plan at any time without shareholder approval, provided, however, that no such amendment, suspension or discontinuance may, without the consent of the Optionee, alter or impair any Option previously granted to an Optionee under the Plan and shareholder approval shall be required for the following amendments to the Plan or any Option:

 

		(a)	any increase in the number of Shares reserved for issuance under the Plan, except as a result of an event specified in Section 5.2 of this Plan;

 

		(b)	a reduction in the Exercise Price of an Option held by an Insider (for this purpose, a cancellation or termination of an Option of a Participant prior to its expiry for the purpose of reissuing Options to the same Participant with a lower Exercise Price within such time period as may be specified by the TSX from time to time, shall be treated as an amendment to reduce the Exercise Price of an Option) except for the purpose of maintaining Option value in connection with an event specified in Section 5.2 of this Plan;

 

		(c)	an extension of the term of an Option held by an Insider beyond ten years from the date the Option was granted (other than an extension to 10 business days after the end of a Blackout Period if the Expiry Date would otherwise fall within, or within two days after the end of a Blackout Period);

 

		(d)	an amendment to the provisions of Section 3.3 to remove or exceed the 10% limit set forth therein; and

 

		(e)	this Section 6.6, respecting matters requiring shareholder approval other than the addition of matters to be subject to shareholder approval.

 

	6.7	Corporate Action

 

Nothing contained in this Plan or in an Option shall be construed so as to prevent the Corporation from taking any corporate action deemed by the Corporation to be appropriate or in its best interest, whether or not such action would have an adverse effect on this Plan or any Option, including, with respect to an 

- 16 -

Option previously granted, any adjustments to the Exercise Price, Exercise Period or number of Option Shares, provided that any such adjustment is required by any securities exchange or applicable securities laws.

 

	6.8	U.S. Tax Laws

 

If any provision of this Plan contravenes any regulations or Treasury guidance promulgated under Section 409A of the Code, or could cause the Participant to recognize income for U.S. federal income tax purposes with respect to any Options before such Options are exercised or to be subject to interest and penalties under Section 409A, such provision shall be modified to maintain, to the maximum extent practicable, the original intent of the applicable provision without violating the provisions of Section 409A or causing such income recognition or imposition of interest or penalties.  Moreover, any discretionary authority that the Plan Administrator or any delegate thereof may have pursuant to this Plan shall not be applicable to Options that are subject to Section 409A to the extent such discretionary authority will contravene Section 409A.

 

	6.9	Notices

 

All written notices to be given by the Optionee to the Corporation shall be delivered personally or by registered mail, postage prepaid, addressed as follows:

 

Magna International Inc.

337 Magna Drive

Aurora, Ontario L4G 7K1

Attention:  Corporate Secretary

 Fax:  905-726-2603

 

Any notice given by the Optionee pursuant to the terms of an Option shall not be effective until actually received during regular business hours by the Corporation at the above address.

 

	6.10	Conflicts

 

The terms and conditions of each Option grant are set out in this Plan and the applicable Option Agreement.  In the event of a conflict between the provisions of this Plan and the provisions of the applicable Option Agreement, the provisions of the Option Agreement shall govern.  In the event of a conflict between the terms and conditions of an Option Agreement and the terms and conditions of an employment or consulting agreement between the Optionee and the Corporation or a Subsidiary, as applicable, the terms and conditions of the Option Agreement shall govern unless the applicable terms of such employment or consulting agreement have been approved by the Board or the Committee.

 

	6.11	Prior Plan

 

The Prior Plan terminated effective on ratification of this Plan by shareholders, such that no further grants of options or other awards shall be made thereunder.  Notwithstanding the foregoing, the termination of the Prior Plan shall have no effect on outstanding options or other awards granted thereunder, all of which shall continue in full force and effect in accordance with their terms and conditions and the terms and conditions of the Prior Plan and the applicable option agreements.

 

	
APPROVED BY THE BOARD:

	
November 5, 2009

	
 

	
 

	
RATIFIED BY SHAREHOLDERS:

	
May 6, 2010

	
 

	
 

	
AMENDED AND RESTATED BY THE BOARD:

	August 8, 2013

 

 

 

SCHEDULE A

 Stock Option Agreement

 

MAGNA INTERNATIONAL INC. (the “Corporation”) hereby grants to the Optionee named below (the “Optionee”) an option (the “Option”) to purchase, in accordance with and subject to the terms, conditions and restrictions of this Agreement, together with the provisions of the 2009 Stock Option Plan (the “Plan”) of the Corporation dated November 5, 2009 and ratified by the Corporation’s shareholders on May 6, 2010, the number of Common Shares in the capital of the Corporation (“Shares”) at the price per share set forth below:

 

Name of Optionee: __________________________________________________

 

Type of Participant: _________________________________________________

 

Grant Date: ________________________________________________________

 

Expiry Date: _______________________________________________________

 

Total Number of Shares Subject to Option: ________________________________

 

Exercise Price: ______________________________________________________

 

Vesting: __________________________________________________________

 

	1.	The terms and conditions of the Plan are hereby incorporated by reference as terms and conditions of this Option Agreement and all capitalized terms used herein, unless expressly defined in a different manner, have the meanings ascribed thereto in the Plan.

 

	2.	Subject to the Plan and unless otherwise determined by the Plan Administrator at the time of granting an Option, each Option is exercisable in the installments set forth in Section 4.4 of the Plan.

 

	3.	In no event is the Option granted hereunder exercisable after the expiration of the relevant Exercise Period, other than an extension to 10 business days after the end of a Blackout Period if the Expiry Date would otherwise fall within, or within two days after the end of a Blackout Period.

 

	4.	No fractional Shares shall be issued on the exercise of the Option granted hereunder.  If, as a result of any adjustment to the number of Shares issuable on the exercise of the Option granted hereunder pursuant to the Plan, the Optionee would be entitled to receive a fractional Share, the Optionee has the right to acquire only the adjusted number of full Shares and no payment or other adjustment shall be made with respect to the fractional Shares so disregarded.

 

	5.	Nothing in the Plan or in this Option Agreement shall affect the Corporation’s right, or that of a Subsidiary, to terminate the employment of, term of office of, or consulting agreement or relationship with an Optionee at any time for any reason whatsoever.  Upon such termination, an Optionee’s rights to exercise Options shall be subject to restrictions and time limits for the exercise of Options.  Complete details of such restrictions are set out in the Plan, including Sections 4.6 and 4.7 of the Plan.

 

	6.	Each notice relating to the Option, including the exercise thereof, must be in writing.  All notices to the Corporation must be delivered personally or by prepaid registered mail and must be addressed to the Corporate Secretary.  All notices to the Optionee shall be addressed to the principal address of the Optionee on file with the Corporation.  Either the 

 

 

Corporation or the Optionee may designate a different address by written notice to the other.  Such notices are deemed to be received, if delivered personally, during regular business hours on the date of delivery and, if sent by prepaid, registered mail, on the fifth business day following the date of mailing.  Any notice given by either the Optionee or the Corporation is not binding on the recipient thereof until received.

 

	7.	When the issuance of Shares on the exercise of the Option may, in the opinion of the Corporation, conflict or be inconsistent with any applicable law or regulation of any governmental agency having jurisdiction, the Corporation reserves the right to refuse to issue such Shares for so long as such conflict or inconsistency remains outstanding.

 

	8.	Subject to Section 4.6 of the Plan, the Options granted pursuant to this Option Agreement may only be exercised during the lifetime of the Optionee by the Optionee personally, and subject to Section 3.6 of the Plan, no assignment or transfer of the Option, whether voluntary, involuntary, by operation of law or otherwise, vests any interest or right in such Option whatsoever in any assignee or transferee.  Immediately upon any such prohibited assignment or transfer or any attempt to make such prohibited assignment or transfer, the Option granted hereunder terminates and is of no further force or effect.  Complete details of this restriction are set out in the Plan.

 

	9.	In the event the Optionee’s employment is terminated for cause while employed by the Corporation or a Subsidiary, all unexercised Options shall be immediately cancelled, in addition to any other remedy which the Corporation or an affiliate may have.  For purposes of this Section 9, the term “cause” shall include the following acts committed by the Optionee while employed by the Corporation or a Subsidiary:

 

		(a)	theft, bribery or fraud;

 

		(b)	competing with the business of the Corporation, its operating groups or any other of the Corporation’s affiliates;

 

		(c)	soliciting for employment any employees of the Corporation, its operating groups or any other of the Corporation’s affiliates; or

 

		(d)	disclosing confidential information which is material to the Corporation and/or its affiliates,

 

	10.	The Optionee hereby agrees that any rule, regulation or determination, including the interpretation by the Plan Administrator of the Plan, the Option granted hereunder and the exercise thereof is final and conclusive for all purposes and binding on all persons including the Corporation and the Optionee.

 

	11.	This Option Agreement has been made in and is to be construed under and in accordance with the laws of the Province of Ontario and the laws of Canada applicable therein.  Each party submits to the exclusive jurisdiction of the competent courts within the Province of Ontario in any action, application, reference or other proceeding arising out of or related to this Agreement and agrees that all claims in respect of any such actions, application, reference or other proceeding shall be heard and determined in such courts.  Each of the parties irrevocably waives, to the fullest extent it may effectively do so, the defence of an inconvenient forum to the maintenance of such action, application or proceeding.  A final judgment in any such action, application or proceeding is conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner specified by law and must not be re-litigated on the merits.

 

	12.	This Agreement ensures to the benefit of and is binding upon the parties and their respective heirs, attorneys, guardians, estate trustees, executors, trustees and successors (including any successor by reason of amalgamation of the Corporation) and permitted assigns.

 

	13. 	(a) 	The Optionee agrees that the “net gain” from any exercise of Options shall be deemed to be income during the year in which the exercise occurs for the purposes of the “Magna Share Investment” paragraph contained in the Optionee’s employment contract with the Corporation or any Subsidiary, if applicable.

 

The “net gain” shall be:  (i) the product obtained by multiplying the number of Options exercised by the closing price on the applicable stock exchange on the trading day immediately preceding the date of exercise, minus (ii) the Exercise Price and the income taxes incurred by the Optionee attributable to the exercise of the Option.

 

		(b)	Notwithstanding the requirement contained in paragraph 13(a) above, in the event the Optionee ceases to be employed by the Corporation or any of its subsidiaries or affiliates within one year following the date of exercise, the Optionee shall maintain until the one year anniversary of the Option exercise date such number of Shares (including restricted Shares) and/or restricted share units of the Corporation equal in value as measured on the exercise date to the “net gain” calculated in accordance with paragraph 13(a).

 

[FOR U.S. OPTIONEES:

 

	14.	The Option granted hereby is intended to be an ISO and the Optionee acknowledges and agrees that Section 4.11 of the Plan is applicable to the Option and the Optionee.]

 

MAGNA INTERNATIONAL INC.

 

By:  _____________________________

 Authorized Signatory

 

By:  _____________________________

 Authorized Signatory

 

I have read the foregoing Option Agreement and hereby accept the Option to purchase Shares in accordance with and subject to the terms and conditions of such Agreement and the Plan.  I understand that I may review the complete text of the Plan by downloading it directly from the Corporation’s website or intranet, or by contacting the Corporate Secretary of the Corporation.  I agree to be bound by the terms and conditions of the Plan governing the award.

 

  

	
 

	
 

	
	Date Accepted	
 

	 Optionee’s Signature
	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	Optionee’s Name
	
 

	
 

	(Please Print)

 

SCHEDULE B

 Stock Option Plan Exercise Notice Form – Options

 

I,                                                     , (print name) hereby exercise the Option to purchase Common Shares of MAGNA INTERNATIONAL INC. (the “Corporation”) at a purchase price of U.S.$/C$             per Common Share.  This Exercise Notice is delivered in respect of the Option to purchase             Common Shares of the Corporation that was granted to me on              pursuant to the Option Agreement entered into between the Corporation and me.

 

In connection with the foregoing, I enclose a cheque, bank draft or money order payable to the Corporation in the amount of U.S.$/C$                representing payment in full of the Exercise Price, together with applicable withholding taxes.

 

Please direct the transfer agent to issue a share certificate representing the above shares registered in the name of (print name you wish to appear on share certificate) and deliver to the following registration address:

 (print address you wish share certificate to be couriered to).

 

  

 

  

	
 

	
 

	
	Date Accepted	
 

	 Optionee’s Signature

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}]]