Document:

exv10w7

Exhibit 10.7

			
		 	

NRG ENERGY, INC. LONG-TERM INCENTIVE PLAN

PERFORMANCE STOCK UNIT AGREEMENT

Name

Address

City, State Zip

Congratulations on your selection as a Participant under the NRG Energy, Inc. Long-Term Incentive
Plan (“Plan”). You have been chosen by NRG Energy, Inc. (the “Company”) to receive
Performance Stock Units (“PUs”) under the Plan.

This Performance Stock Unit Agreement (this “Agreement”) constitutes the Grant Agreement
pursuant to Section 9 of the Plan. If there is any inconsistency between the terms of this
Agreement and the terms of the Plan, the Plan’s terms shall completely supersede and replace the
conflicting terms of this Agreement. Capitalized terms used but not defined in this Agreement
shall have the meaning assigned to them in the Plan. You are sometimes referred to as the
"Participant” in this Agreement.

If you disagree with any of the terms of this Award or choose not to accept this Award,
please contact <<Contact Information>> by <<Grant Date + ~30-45
days>>. Otherwise, you will be deemed to have accepted this Award under the terms
and conditions set forth in this Agreement and the Plan.

	1.	 	Grant of PU.
	 
	 	 	You are hereby granted PUs as follows:

	 	 	 
	Date of Grant:

	 	mmmm dd, yyyy
	 
	 	 
	Vesting Commencement Date:

	 	Date of Grant
	 
	 	 
	Vesting Period:

	 	Please refer to Section 2 of this Agreement
	 
	 	 
	Total Number of PUs:

	 	xxxx

The terms and provisions of the plans described in this agreement are governed by the
applicable plan document. If there is any discrepancy between this grant agreement and the plan
document, the plan document will govern.

 

 

	2.	 	Vesting Schedule.
	 
	 	 	Provided that you have been continuously employed by the Company during the vesting period, the
PUs will vest on the third anniversary of the Date of Grant based on NRG’s Total Shareholder
Return1, in accordance with the following schedule:

	 	 	 	 	 
	Goal	 	Stock Price2	 	Payout3
	Maximum

	 	$xx.xx
	 	200% of Target
	 

	 	 	 	= Number of PUs in Section 1
of this agreement multiplied
by 2.
	 
	 	 	 	 
	Target

	 	$xx.xx
	 	100% of Target
	 

	 	 	 	= Number of PUs in Section 1.
	 
	 	 	 	 
	Threshold

	 	$xx.xx
	 	50% of Target
	 

	 	 	 	= Number of PUs in Section 1
multiplied by 0.5.
	 
	 	 	 	 
	< Threshold

	< 	$xx.xx
	 	0% of Target
	 

	 	 	 	= Number of PUs in Section 1
multiplied by 0.

 

			
	1	 	Total Shareholder Return is based on the average of the closing price
on the vesting date and the nineteen preceding
trading days (20 trading-day average)
	 
	2	 	Prices shown assume Total Shareholder Return without dividends
	 
	3	 	Payout (# of PUs) is interpolated for performance falling between
Threshold, Target, and Maximum levels.

	 	 	Notwithstanding the foregoing, if there is a Change in Control (as defined in the Plan) of
the Company, the PUs shall vest in full immediately upon such Change in Control.
	 
	3.	 	Conversion of PU and Issuance of Shares
	 
	 	 	Upon vesting of the Award, one share of Common Stock shall be issued for each PU that vests on
such vesting date, subject to the terms and conditions of this Agreement and the Plan.
	 
	4.	 	Transfer of PUs
	 
	 	 	Unless otherwise permitted by the Committee or Section 14 of the Plan, the PUs may not be sold,
transferred, pledged, assigned or otherwise alienated or hypothecated, other than pursuant to a
will or the laws of descent and distribution. Any attempted disposition in violation of this
Section 4 or Section 14 of the Plan shall be void.
	 
	5.	 	Status of Participant
	 
	 	 	The Participant shall not be, or have rights as, a stockholder of the Company with respect to
any of the shares of Common Stock subject to the Award unless such Award has vested, and shares
underlying the PU have been issued and delivered to him or her. The Company shall not be
required to issue or transfer any certificates for shares of Common Stock upon vesting of the
Award until all applicable requirements of law have been complied with and such
shares have been duly listed on any securities exchange on which the Common Stock may then be
listed.

The terms and provisions of the plans described in this agreement are governed by the
applicable plan document. If there is any discrepancy between this grant agreement and the plan
document, the plan document will govern.

 

 

	6.	 	No Effect on Capital Structure
	 
	 	 	The Award shall not affect the right of the Company or any Subsidiary to reclassify,
recapitalize or otherwise change its capital or debt structure or to merge, consolidate, convey
any or all of its assets, dissolve, liquidate, windup, or otherwise reorganize.
	 
	7.	 	Expiration and Forfeiture of Award
	 
	 	 	Your Award shall vest and/or expire in the circumstances described below in this Section 7. As
used herein, “Termination of Service” means termination of a Participant’s employment by or
service to the Company, including any of its Subsidiaries.

	 	(a)	 	Death.
	 
	 	 	 	Upon a Termination of Service by reason of death, the Award shall vest in full and the
Common Stock underlying the Award shall be issued and delivered to the Participant’s legal
representatives, heirs, legatees, or distributees.
	 
	 	(b)	 	Termination of Service other than as a result of Death.
	 
	 	 	 	Upon a Termination of Service by any reason other than death, including without limitation
as a result of Disability, Retirement, voluntary resignation or termination for Cause, any
unvested portion of the Award shall expire and be forfeited to the Company.

	8.	 	Committee Authority
	 
	 	 	Any question concerning the interpretation of this Agreement, any adjustments required to be
made under the Plan, and any controversy that may arise under the Plan or the Grant Agreement
shall be determined by the Committee in its sole discretion. Any decisions by the Committee
regarding the Plan or this Agreement shall be final and binding.
	 
	9.	 	Plan Controls
	 
	 	 	The terms of this Agreement are governed by the terms of the Plan, as it exists on the date of
the grant and as the Plan is amended from time to time. In the event of any conflict between
the provisions of this Agreement and the provisions of the Plan, the terms of the Plan shall
control.
	 
	10.	 	Limitation on Rights; No Right to Future Grants; Extraordinary Item.
	 
	 	 	By entering into this Agreement and accepting the Award, the Participant acknowledges that:
(a) the Plan is discretionary and may be modified, suspended or terminated by the Company at any
time as provided in the Plan, provided that, except as provided in Section 17 of the Plan, no
amendment to this Agreement shall adversely affect in a material manner the Participant’s rights
under this Agreement without his or her written consent; (b) the grant of the Award is a
one-time benefit and does not create any contractual or other right to receive future grants of
awards or benefits in lieu of awards; (c) all determinations with respect to any such future
grants, including, but not limited to, the times when awards will be granted, the number of
shares subject to each award, the award price, if any, and the time or times when each award
will be settled, will be at the sole discretion of the Company; (d) participation in the Plan is
voluntary; (e) the value of the Award is an extraordinary item which is outside the scope of the
Participant’s employment contract, if any, unless expressly provided for in any such employment
contract; (f) the Award is not part of normal or

The terms and provisions of the plans described in this agreement are governed by the
applicable plan document. If there is any discrepancy between this grant agreement and the plan
document, the plan document will govern.

 

 

	 	 	expected compensation for any purpose, including without limitation for calculating any
benefits, severance, resignation, termination, redundancy, end of service payments, bonuses,
long-service awards, pension or retirement benefits or similar payments, and the Participant
will have no entitlement to compensation or damages as a consequence of the forfeiture of any
unvested portion of the Award as a result of the Participant’s Termination of Service for any
reason; (g) the future value of the Common Stock subject to the Award is unknown and cannot be
predicted with certainty, (h) neither the Plan, the Award nor the issuance of the shares
underlying the Award confers upon the Participant any right to continue in the employ or service
of (or any other relationship with) the Company or any Subsidiary, nor do they limit in any
respect the right of the Company or any Subsidiary to terminate the Participant’s employment or
other relationship with the Company or any Subsidiary, as the case may be, at any time with or
without Cause, and (i) the grant of the Award will not be interpreted to form an employment
relationship with the Company or any Subsidiary; and furthermore, the grant of the Award will
not be interpreted to form an employment contract with the Company or any Subsidiary.
	 
	11.	 	General Provisions

	 	(a)	 	Notice
	 
	 	 	 	Whenever any notice is required or permitted hereunder, such notice must be in writing and
delivered in person or by mail (to the address set forth below if notice is being delivered
to the Company) or electronically. Any notice delivered in person or by mail shall be
deemed to be delivered on the date on which it is personally delivered, or, whether actually
received or not, on the third business day after it is deposited in the United States mail,
certified or registered, postage prepaid, addressed to the person who is to receive it at
the address set forth in this Agreement. Notices delivered to the Participant in person or
by mail shall be addressed to the address for the Participant in the records of the Company.
Notices delivered to the Company in person or by mail shall be addressed as follows:

			
	Company:	 	NRG Energy, Inc.

Attn: Vice President, Human Resources

211 Carnegie Center

Princeton, NJ 08450

	 	 	 	The Company or the Participant may change, by written notice to the other, the address
previously specified for receiving notices.
	 
	 	(b)	 	No Waiver
	 
	 	 	 	No waiver of any provision of this Agreement will be valid unless in writing and signed by
the person against whom such waiver is sought to be enforced, nor will failure to enforce
any right under this Agreement constitute a continuing waiver of the same or a waiver of any
other right hereunder.
	 
	 	(c)	 	Undertaking
	 
	 	 	 	The Participant hereby agrees to take whatever additional action and execute whatever
additional documents the Company may deem necessary or advisable in order to carry out
or effect one or more of the obligations or restrictions imposed on either the Participant
or the Award pursuant to the express provisions of this Agreement.

The terms and provisions of the plans described in this agreement are governed by the
applicable plan document. If there is any discrepancy between this grant agreement and the plan
document, the plan document will govern.

 

 

	 	(d)	 	Entire Contract
	 
	 	 	 	This Agreement and the Plan constitute the entire contract between the parties hereto with
regard to the subject matter hereof. This Agreement is made pursuant to the provisions of
the Plan and will in all respects be construed in conformity with the express terms and
provisions of the Plan.
	 
	 	(e)	 	Successors and Assigns
	 
	 	 	 	The provisions of this Agreement shall inure to the benefit of, and be binding on, the
Company and its successors and assigns and Participant and Participant’s legal
representatives, heirs, legatees, distributees, assigns and transferees by operation of law.
	 
	 	(f)	 	Securities Law Compliance
	 
	 	 	 	The Company currently has an effective registration statement on file with the Securities
and Exchange Commission with respect to the shares of Common Stock subject to the Award.
The Company intends to maintain this registration but has no obligation to the Participant
to do so. If the registration ceases to be effective, the Participant will not be able to
transfer or sell shares of Common Stock issued pursuant to the Award unless exemptions from
registration under applicable securities laws are available. Such exemptions from
registration are very limited and might be unavailable. Participant agrees that any resale
of the shares of Common Stock issued pursuant to the Award shall comply in all respects with
the requirements of all applicable securities laws, rules and regulations (including,
without limitation, the provisions of the Securities Act of 1933, the Securities Exchange
Act of 1934 and the respective rules and regulations promulgated thereunder) and any other
law, rule or regulation applicable thereto, as such laws, rules, and regulations may be
amended from time to time. The Company shall not be obligated to either issue shares of
Common Stock or permit the resale of any such shares if such issuance or resale would
violate any such requirements.
	 
	 	(g)	 	Taxes
	 
	 	 	 	Participant acknowledges that the removal of restrictions with respect to an PU will give
rise to a withholding tax liability, and that no shares of Common Stock are issuable
hereunder until such withholding obligation is satisfied in full. The Participant agrees to
remit to the Company the amount of any taxes required to be withheld. The Committee, in its
sole discretion, may permit Participant to satisfy all or part of such tax obligation
through withholding of the number of shares of Common Stock otherwise issued to him or her
hereunder and/or by the Participant transferring to the Company nonrestricted shares of
Common Stock previously owned by the Participant for at least six (6) months prior to the
vesting of the Award hereunder, with the amount of the withholding to be credited based on
the current Fair Market Value of the Common Stock as of the date the amount of tax to be
withheld is determined.
	 
	 	(h)	 	Information Confidential
	 
	 	 	 	As partial consideration for the granting of the Award, the Participant agrees that he or
she will keep confidential all information and knowledge that the Participant has relating
to the manner and amount of his or her participation in the Plan; provided, however, that

The terms and provisions of the plans described in this agreement are governed by the
applicable plan document. If there is any discrepancy between this grant agreement and the plan
document, the plan document will govern.

 

 

	 	 	 	such information may be disclosed as required by law and may be given in confidence to the
Participant’s spouse, tax and financial advisors, or to a financial institution to the
extent that such information is necessary to secure a loan.
	 
	 	(i)	 	Governing Law
	 
	 	 	 	Except as may otherwise be provided in the Plan, the provisions of this Agreement shall be
governed by the laws of the state of Delaware, without giving effect to principles of
conflicts of law.
	 
	 	(j)	 	Code Section 409A Compliance
	 
	 	 	 	Notwithstanding any provision of this Agreement, to the extent that the Committee determines
that any Award granted under this Agreement is subject to Section 409A of the Code and fails
to comply with the requirements of Section 409A of the Code, notwithstanding anything to the
contrary contained in the Plan or in this Agreement, the Committee reserves the right to
amend, restructure, terminate or replace the Award in order to cause the Award to either not
be subject to Section 409A of the Code or to comply with the applicable provisions of such
section.

	 	 	 	 	 	 	 
	 	 	NRG ENERGY, INC.	 	 
	 
	 	 	 	 	 	 
	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	David Crane	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	President & CEO	 	 

The terms and provisions of the plans described in this agreement are governed by the
applicable plan document. If there is any discrepancy between this grant agreement and the plan
document, the plan document will govern.exv4w1

Exhibit 4.1

	 	 	 	 	 
	

	 	Industry Canada
	 	Industrie Canada

	 	 	 
	Restated Certificate

	 	Certificate
	of Incorporation

	 	de constitution à jour
	 
	 	 
	Canada Business

	 	Loi canadienne sur
	Corporations Act

	 	les sociétés par actions

	 	 	 
	AETERNA ZENTARIS INC.

	 	264271-9
	 
	 	 
	 

	 	 
	Name
of corporation-Dénomination de la société

	 	Corporation number-Numéro de la société
	 
	 	 
	I hereby certify that the articles of incorporation
of the above-named corporation were restated under
section 180 of the Canada Business Corporations Act
as set out in the attached restated articles of
incorporation.

	 	Je certifie que les statuts constitutifs de
la société susmentionnée ont été mis à jour
en vertu de l’article 180 de la Loi
canadienne sur les sociétés par actions, tel
qu’il est indiqué dans les statuts mis à
jour ci-joints.
	 
	 	 
	

	 	June 1, 2004 / le 1 juin 2004
	 
	 	 
	Director — Directeur

	 	Effective Date of Restatement —
	 

	 	Date d’entrée en
vigueur de la mise à jour

 

 

	 	 	 	 	 	 	 	 	 
	

	 	
Industry Canada
	 	
Industrie Canada
	 	FORM 7

RESTATED ARTICLES OF
	 	FORMULAIRE 7

STATUTS CONSTITUTIFS
	 

	 	Canada Business
	 	Loi canadienne sur
	 	INCORPORATION
	 	MIS À JOUR
	 

	 	Corporations Act
	 	les sociétés par actions
	 	(SECTION 180)
	 	(ARTICLE 180)

	 	 	 	 	 	 
	 	 	 	 
	1 -

	 	Name of the Corporation — Dénomination sociale de la société
	 	 	Corporation No. — N° de la société
	 
	 	 	 	 	 
	 

	 	AETERNA ZENTARIS INC.
	 	 	 264271-9
	 	 	 	 
	 	 	 	 

					
	2 -

	 	The province or territory in Canada where the registered office is
situated
	 	La province ou le territoire au
Canada ou est situé le siége social
	 
	 	 	 	 
	 

	 	JUDICIAL DISTRICT OF QUÉBEC,
PROVINCE OF QUÉBEC	 	 
	 	 	 	 
	 	 	 	 

					
	3 -

	 	The classes and any
maximum number of shares that the
corporation is authorized to issue
	 	Catégories et tout nombre maximal d’actions que la
société est autorisée à émettre

– an unlimited number of common shares;

– an unlimited number of First Preferred Shares, issuable in series; and

– an unlimited number of Second Preferred Shares, issuable in series;

and the rights, privileges, restrictions and conditions attaching these shares are
set out in the annexed Schedule 1 which is incorporated in this form.

 

	 	 	 
	 
	4 - Restrictions, if any, on share transfers

	 	Restrictions sur le transfert des actions, s’il y a lieu
	 
	 	 
	NOT APPLICABLE
	 	 
	 
	 	 
	 
	5 - Number (or minimum and maximum number) of directors

	 	Nombre (ou nombre minimal et maximal) d’administrateurs
	 
	 	 
	MINIMUM 5 — MAXIMUM 15
	 	 
	 
	 	 
	 
	6 - Restrictions, if any, on business the corporation
may carry on

	 	Limites imposées à l’activité commerciale de la société, s’il y a lieu
	 
	 	 
	NOT APPLICABLE
	 	 
	 
	 	 
	 
	7 - Other provisions, if any

	 	Autres dispositions, s’il y a lieu

The annexed Schedule 2 is incorporated into this form.

	 	 	 
	 
	These restated articles of
incorporation correctly set out,
without substantive change, the
corresponding provisions of the
articles of incorporation as
amended and supersede the original
articles of incorporation.

	 	Cette mise à jour des statuts
constitutifs démontre exactement,
sans changement substantiel, les
dispositions correspondantes des
statuts constitutifs modifiés qui
remplacent les statuts constitutifs
originaux.

 

 

SCHEDULE 1

TO THE RESTATED ARTICLES OF

ÆSTERNA ZENTARIS INC.

The authorized share capital of Æterna Zentaris Inc. (the “Corporation”) shall consist of an
unlimited number of Common Shares, an unlimited number of First Preferred Shares, issuable in
series, and an unlimited number of Second Preferred Shares, issuable in series. For the purposes
of this Schedule 1 to the Restated Articles of the Corporation, any reference to Subordinate
Voting Shares shall be deemed to be to the Common Shares. The rights, privileges, restrictions and
conditions attaching to each class of shares are as follows:

ARTICLE 1

Common Shares

	1.1	 	Voting Rights. The holders of the Common Shares shall be entitled to one (1) vote
for each Common Share held by them at all meetings of shareholders, except meetings at which
only shareholders of a specified class of shares are entitled to vote.
	 
	1.2	 	Dividend Rights. Subject to section 2.3 hereof, the holders of the Common
Shares shall be entitled to receive such dividends as are declared by the Board of Directors
of the Corporation on the Common Shares.
	 
	1.3	 	Liquidation Rights. The holders of the Common Shares shall be entitled to receive,
subject to the other provisions hereof the remaining property of the Corporation upon any
liquidation, dissolution or winding-up of the affairs of the Corporation, whether voluntary
or involuntary.

ARTICLE 2

First Preferred Shares and
Second Preferred Shares

The First Preferred Shares and the Second Preferred Shares (such shares being hereinafter
sometimes collectively referred to as the “Preferred Shares”) shall be issuable in series and the
rights, privileges, restrictions and conditions attaching thereto are as follows:

	2.1	 	Issuance in Series
	 
	 	 	The Preferred Shares shall be issuable at any time in one or more series, as provided
above, which shares shall rank equally, within their respective series, in regard to the
payment of dividends and the distribution of property in the event of the liquidation,
dissolution or winding-up of the Corporation or the distribution of all or part of its
assets among the shareholders.

 

 

	 	 	The Board of Directors may, from time to time, provide for series of Preferred Shares to be
created and issued. Before any Preferred Shares of a given series are issued, the Board of
Directors shall:

	 	2.1.1	 	determine how such series of First Preferred Shares or Second Preferred
Shares is to be designated;
	 
	 	2.1.2	 	determine the number of First Preferred Shares or Second Preferred Shares
that will make up such series;
	 
	 	2.1.3	 	determine, subject to the attributes common to all the Preferred Shares, the
rights, privileges, restrictions and conditions attaching to such series of shares,
including, but without limiting the generality of the foregoing:

	 	2.1.3.1	 	the rate, amount or method of calculation of the dividend applicable to
the shares of such series, the method of payment of such dividend and
whether it is cumulative or non-cumulative; and
	 
	 	2.1.3.2	 	such rights, privileges, restrictions and conditions, if any, as may be
considered appropriate in regard to the acquisition of such shares by the
Corporation (at the option of the Corporation, at the option of the holder
or otherwise), the creation of a sinking fund or purchase fund with respect
thereto, the transfer of such shares or the exchange or conversion thereof
into shares of another series or class; and

	 	2.1.4	 	amend the articles of the Corporation accordingly, in conformity with
the Canada Business Corporations Act.

	2.2	 	Voting
	 
	 	 	The holders of the Preferred Shares shall not be entitled to receive notice of or to
attend or vote at meetings of shareholders.
	 
	2.3	 	Dividends

	 	2.3.1	 	The holders of Preferred Shares of a series shall be entitled to receive,
with respect to each financial year of the Corporation or such other period as may be
specified in the articles of amendment with respect to such series, preferential
dividends, the rate, amount or method of calculation and the method of payment of
which dividend, and whether it is cumulative or non-cumulative, shall be as determined
in the relevant articles of amendment.
	 
	 	2.3.2	 	The holders of Preferred Shares of a series shall not, as such, be entitled
to any further dividend or any dividend other than the specific

 

 

	 	 	 	preferential dividend provided for in the articles of amendment with respect to
such series.
	 
	 	2.3.3	 	No dividend may be declared, paid or set aside for payment, during a
financial year of the Corporation or such other period specified in the relevant
articles of amendment, on the Second Preferred Shares, the Subordinate Voting Shares
and the Multiple Voting Shares or any other share of the share capital of the
Corporation ranking junior to the First Preferred Shares, unless any current dividend
on any First Preferred Shares then outstanding and any accrued dividends on any such
shares with a cumulative dividend shall first have been declared and paid or set aside
for payment with respect to the same year or period.
	 
	 	2.3.4	 	No dividend may be declared, paid or set aside for payment, during a
financial year of the Corporation or such other period specified in the relevant
articles of amendment, on the Subordinate Voting Shares and the Multiple Voting Shares
or any other share of the share capital of the Corporation ranking junior to the
Second Preferred Shares, unless any current dividend on any Second Preferred Shares
then outstanding and any accrued dividends on any such shares with a cumulative
dividend shall first have been declared and paid or set aside for payment with respect
to the same year or period
	 
	 	2.3.5	 	The dividend applicable to any Preferred Share of a series with a cumulative
dividend shall begin to accrue from the date such shares are issued, unless the
articles of amendment with respect to such series provide for a different date, in
which case such cumulative dividend shall begin to accrue from the date specified in
the relevant articles of amendment.
	 
	 	2.3.6	 	The dividend applicable to any Preferred Share of a series with a cumulative
dividend shall be earned only at the end of a financial year or of such other period to
which it relates, unless the articles of amendment with respect to such series provide
that such dividend is to be earned on a daily basis or in any other manner, in which
case the relevant articles of amendment shall prevail.
	 
	 	2.3.7	 	Where an amount declared as a dividend is insufficient to pay any current
dividend on any Preferred Shares then outstanding and any accrued dividends on any
such shares with a cumulative dividend, the holders of Preferred Shares shall
participate in such dividend on an equal basis within their respective series, in
proportion to the amounts that would be payable if current and accrued dividends were
paid in full.

	2.4	 	Liquidation, Dissolution or Winding-up

 

 

	 	2.4.1	 	In the event of the liquidation of the Corporation, the distribution of
its
property upon its dissolution or winding-up, or the distribution of all or
part of its assets among the shareholders, the holders of Preferred Shares
of every series shall receive, in cash or in kind, an amount equal to the
value of the consideration paid in respect of such shares outstanding, as
credited to the issued and paid-up share capital account of the
Corporation, together with:

	 	2.4.1.1	 	in the case of Preferred Shares with a cumulative dividend, the amount
of any dividends then accrued or declared on such shares and unpaid;
	 
	 	2.4.1.2	 	in the case of Preferred Shares with a non-cumulative dividend, the
amount of any dividends then declared on such shares and unpaid; and
	 
	 	2.4.1.3	 	all other amounts, if any, specified in the articles of amendment
creating the share series concerned.

	 	2.4.2	 	The holders of First Preferred Shares shall be entitled to receive these
amounts in preference and priority to any participation of holders of Second Preferred
Shares, Subordinate Voting Shares and Multiple Voting Shares or shares of any other
class of shares of the share capital of the Corporation ranking junior to the First
Preferred Shares, on an equal basis, in proportion to the amount of their respective
claims in regard to such shares held by them.
	 
	 	2.4.3	 	The holders of Second Preferred Shares shall be entitled to receive these
amounts in preference and priority to any participation of holders of Subordinate
Voting Shares and Multiple Voting Shares or shares of any other class of shares of the
share capital of the Corporation ranking junior to the Second Preferred Shares, on an
equal basis, in proportion to the amount of their respective claims in regard to such
shares held by them.
	 
	 	2.4.4	 	The holders of Preferred Shares shall not be entitled to participate further
in such distribution, the remaining property of the Corporation devolving to holders
of the other shares of the share capital of the Corporation according to their
respective rights.

	2.5	 	Amendments

	 	2.5.1	 	Subject to the provisions of sections 173 and following of the Canada
Business Corporations Act and subject to the articles of the Corporation being
amended, the Board of Directors may at any time adopt a resolution to modify, amend,
suspend or repeal the rights, privileges, restrictions and conditions attaching to
any Preferred Shares in order to authorize the creation of shares of a new class
ranking prior to or having

 

 

	 	 	 	the same rank as such Preferred Shares in regard to dividends or distribution of
property in the event of the liquidation, dissolution or winding-up of the Corporation
or the distribution of all or part of its assets among the shareholders, or in order to
make the shares of an existing class rank prior to or have the same rank as such
Preferred Shares in regard thereto, but no such resolution shall be effective unless
ratified by at least three quarters
(3/4)
of the votes cast by the holders of
Preferred Shares of each series affected by such amendment, voting separately as a
series, present or represented at a meeting called and held for such purpose; a meeting
may nevertheless be held jointly with other shareholders provided that a separate vote
is taken among holders of Preferred Shares of each series affected by such amendment.
The formalities to be observed in regard to the calling and conduct of any such meeting
and the quorum therefor shall be those prescribed in the by-laws of the Corporation in
regard to meetings of holders of shares carrying the right to vote at shareholders’
meetings, mutatis mutandis. A vote with respect to Preferred Shares may also be
expressed by resolution in writing signed by all the holders entitled to vote on the
resolution concerned.
	 
	 	2.5.2	 	If the proposed amendment stands to affect the rights of holders of Preferred Shares of a
given series in a manner or to an extent significantly different from the manner or extent to
which it affects the rights of holders of Preferred Shares of any other series, such amendment
must then, in addition to being approved by the holders of Preferred Shares of each series
affected by the amendment, voting as a series as provided above, be approved, in the same
manner, by the holders of Preferred Shares of every such series, voting separately as a
series, and the provisions of article 2.5.1 shall apply to the procedure for obtaining such
approval, mutatis mutandis.

 

 

SCHEDULE 2

TO THE RESTATED ARTICLES OF

ÆTERNA ZENTARIS INC.

7 —  Other provisions, if any

The directors shall be authorized to appoint one or more additional directors (in addition to the
number of directors elected at the last annual meeting), who will remaining in office for a period
terminating no later that at the adjournment of the next annual meeting provided that the total
number of directors so appointed does not exceed one-third of the number of directors elected at
such last annual meeting.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00168-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00168-of-00352.parquet"}]]