Document:

EX-4.2

 Exhibit 4.2 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

THIS DEBT SECURITY IS A BOOK-ENTRY DEBT SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITORY OR A NOMINEE OF A DEPOSITORY OR A SUCCESSOR DEPOSITORY. THIS DEBT SECURITY IS EXCHANGEABLE FOR DEBT SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE, AND NO TRANSFER OF THIS DEBT SECURITY (OTHER THAN A TRANSFER OF THIS DEBT SECURITY AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY) MAY
BE REGISTERED EXCEPT IN SUCH LIMITED CIRCUMSTANCES. 
 PIEDMONT NATURAL GAS COMPANY, INC. 

4.65% SENIOR NOTES DUE 2043 
  

					
	 No. R-1
	  	$	300,000,000	  
		
	 CUSIP No. 720186 AG0
	  			

 PIEDMONT NATURAL GAS COMPANY, INC., a corporation validly existing under the laws of the State of North
Carolina (herein called the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum
of THREE HUNDRED MILLION DOLLARS ($300,000,000) on August 1, 2043 and to pay interest thereon from August 1, 2013 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semiannually in arrears
on February 1 and August 1 (each an “Interest Payment Date”) in each year, commencing February 1, 2014 at the rate of 4.65% per annum, until the principal hereof is paid or made available for payment, and (to the extent
that the payment of such interest shall be legally enforceable) at the rate of 4.65% per annum on any overdue principal and on any overdue installment of interest. The amount of interest payable on any Interest Payment Date will, as provided in
such Indenture, be paid to the Person in whose name this Note is registered at the close of business on the regular Record Date for such interest, which shall be the January 15 or July 15 (whether or not a Business Day), as the case may
be, immediately preceding such Interest Payment Date, provided that interest payable at the Stated Maturity of principal or on a redemption date as provided in the Indenture will be paid to the Person to whom principal is payable. Any such interest
not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such regular Record Date and will be paid to the Person in whose name the Notes are registered at the close of business on a subsequent record date
established for the payment of such defaulted interest by notice given by mail or on behalf of the Company to the Holders no less than fifteen (15) days preceding such subsequent record date, such record date to be not less than five
(5) days 

 
preceding the date of payment of such defaulted interest or in any other lawful manner acceptable to the Trustee. 
 Payments of interest on this Note will include interest accrued to but excluding the respective Interest Payment Date. Interest payments for this Note shall be computed and paid on the basis of a 360-day
year of twelve 30-day months. In the event that any Interest Payment Date would otherwise be a day that is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and
without any interest or other payment in respect of any such delay), with the same force and effect as if made on the date the payment was originally payable. 
 Payment of the principal of and interest on this Note will be made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private
debts. Payment of interest on this Note (other than interest payable at maturity) will be made, at the option of the Company, by wire transfer to the Holders entitled thereto who have provided appropriate wire transfer instructions to the Trustee or
by check mailed to the address of the Holder as such address shall appear in the Debt Security Register; provided, however, that if this Note is a Book-Entry Debt Security the Depository, as Holder of this Note, shall be entitled to receive payment
of interest by wire transfer of immediately available funds. Notices regarding changes of address shall be effective upon recordation in the Debt Securities Register. Payment of the principal of and interest on this Note payable at maturity will be
made in immediately available funds upon surrender of this Note at the corporate trust office of the Trustee in the Borough of Manhattan, The City of New York, or such other office or agency of the Company maintained for such purpose in the Borough
of Manhattan, The City of New York, provided, however, that if this Note is a Book-Entry Debt Security the Depository, as Holder of this Note, shall be entitled to receive payment of interest by wire transfer of immediately available funds in
accordance with the arrangements with the Depository. 
 Reference is hereby made to the further provisions of this Note set
forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture
or be valid or obligatory for any purpose. 

  
 2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
 Dated:             , 2013 

 

							
	ATTEST:	 	
		 	PIEDMONT NATURAL GAS COMPANY, INC.
				
	By:	 	  
	 	By:	 	  

		 	(Signature)	 		 	(Authorized Signature)

 [Seal] 

  
 3 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Debt Securities of the series designated therein referred to in the within-mentioned Indenture. 

Dated:             , 2013 

 

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	  

		 	(Authorized Signature)

 (Reverse Side of Note) 

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued and to be issued
in one or more series under an Indenture, dated as of April 1, 1993 (as amended and supplemented, the “Indenture”), between Piedmont Natural Gas Company, Inc., a New York corporation and the predecessor to the Company and The Bank of
New York Mellon Trust Company, N.A. (as successor to Citibank N.A.), as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto
reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be,
authenticated and delivered. This Note is a global Book-Entry Debt Security and is limited initially in the aggregate principal amount of $300,000,000; provided however that the authorized aggregate principal amount of this Note may be increased
above such amount by a Board Resolution authorizing such increase. 
 Prior to February 1, 2043, the Company shall have the
right to redeem this Note, at its option, at any time in whole, or from time to time in part, at a redemption price equal to the greater of (i) 100% of the principal amount to be redeemed and (ii) the sum of the present values of the
remaining scheduled payments of principal and interest on this Note to be redeemed (not including any portion of such payments of interest accrued as of the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15 basis points; plus, in each
case, accrued and unpaid interest on the principal amount of this Note being redeemed to the redemption date. 
 On or after
February 1, 2043, the Company shall have the right to redeem this Note, at its option, at any time in whole, or from time to time in part, at a redemption price equal to 100% of the principal amount of this Note to be redeemed, plus accrued and
unpaid interest on the principal amount being redeemed to the redemption date. 
 For purposes of determining the redemption
price: 
 “Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent
as having a maturity comparable to the remaining term of this Note to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of this Note. 
 “Comparable Treasury Price” means, with respect to any
redemption date, (1) the average of four reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (2) if the Quotation Agent obtains fewer than four
such Reference Treasury Dealer Quotations, the average of all such quotations, or (3) if only one such Reference Treasury Dealer Quotation is received, such quotation. 

“Quotation Agent” means a Reference Treasury Dealer appointed by the Company. 

“Reference Treasury Dealer” means (1) Merrill Lynch, Pierce, Fenner & Smith Incorporated or its
affiliates, and successor, unless it ceases to be a primary U.S. government securities dealer in the United States of America (“Primary Treasury Dealer”), in which case the Company will substitute therefor another Primary Treasury Dealer,
(2) Primary Treasury Dealer selected by U.S. Bancorp Investments, Inc. and (3) two other Primary Treasury Dealers selected by the Company. 

  
 1 

 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer and any redemption date, the average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to
the Quotation Agent by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding such redemption date. 
 “Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the
Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. 

This Note will not have a sinking fund. 
 If an Event of Default with respect to the Notes shall occur and be continuing, the aggregrate principal of the Notes may be declared due and payable in the manner, with the effect and subject to the
conditions provided in the Indenture. 
 The Indenture contains provisions for defeasance at any time of (a) the entire
indebtedness of this Note and (b) certain restrictive covenants, in each case upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Note. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Debt Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of at least a 66 2/3% in aggregate principal
amount of such Debt Securities. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Debt Securities of each series at the time Outstanding, on behalf of the Holders of all Debt Securities
of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding
upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfers hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note.

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation
of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations herein and therein set forth, the transfer of this Note is registrable in
the Debt Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and interest on this Note are payable, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Debt Security Registrar duly executed by the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series, of authorized denominations
and for the same aggregate principal amount, will be issued to the designated transfers or transferees. 
 This global
Book-Entry Debt Security is exchangeable for Notes in definitive, non-global form only under certain limited circumstances set forth in the Indenture. Securities of this series so issued are issuable only in registered form without coupons in
denominations of $1,000 and any integral multiple thereof. 

  
 2 

 No service charge shall be made for any such registration of transferor exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Note is registered as the owner hereof for all purposes whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  
 3 

 ABBREVIATIONS 
 The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations:

  

											
	 TEN COM-
	 	as tenants in	 	UNIF GIFT MIN ACT-	 	  
	 	Custodian	 	  

		 	common	 		 	 (Cust)
	 		 	(Minor)
	 TEN ENT-
	 	 as tenants by the entireties

as joint tenants
	 		 	 under Uniform Gifts to Minors Act

 

	 JT TEN-
	 	 with right of survivorship and
 not as tenants
 in common
	 		 	(State)

 Additional abbreviations may also be used 

though not on the above list. 
 FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto 
  

 
 (please insert Social Security or other
identifying number of assignee) 
 PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE OF ASSIGNEE 

 
  
  

 
 the within Note and all rights thereunder,
hereby irrevocably constituting and appointing 
  
  

 
  
 agent to transfer said Note on the books of the Company, with full power of substitution in the premises. 
 Dated:                       
 NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within instrument in every particular without alteration or enlargement, or any change whatever.

  
 4Exhibit 10.71

 Exhibit 10.71 

 
 

 
 To: 
                     
 Personal
and Confidential 
  

	Re:	Notification of Grant 

 I
am pleased to inform you that in recognition of your contribution to the Company, the Board of Directors of QLT Inc. (the “Company”) has granted to you an Option to purchase
             Common Shares (the “Optioned Shares”) at the Option Exercise Price of Cdn
$             per Optioned Share, effective              (the “Grant Date”). The Option to acquire
the Optioned Shares will expire ten years from the Grant Date, on              (the “Expiry Date”). The terms and conditions which govern the Option are set out in three
places: (1) in this letter (the “Notification Letter”), (2) in the attached schedule which sets out general terms and conditions relating to the Option (the “General Terms”), and (3) in the QLT 2000 Incentive Stock
Plan, as amended and restated effective April 25, 2013 (the “Plan”). Capitalized terms used but not defined in this Notification Letter have the meanings given to such terms in the Plan. 

We encourage you to review a copy of the Company’s Proxy Statement for the Annual General and Special Meeting of Shareholders held
on June 14, 2013 (the “Proxy Statement”), which sets out a summary of the Plan and the amendments made to the Plan effective April 25, 2013, and a copy of the Plan Prospectus. The Proxy Statement, the Plan and Plan Prospectus are
available for reference on QLink. You may also obtain a copy of any of these documents by contacting the Company’s legal department at (604) 707-7363. 
 Anyone exercising options or trading in QLT stock must comply with the QLT Trading Policy. A copy of the Trading Policy has been previously provided to you, and you are subject to it. The QLT Trading
Policy is also available for your reference on QLink. 
 By signing this Notification Letter where indicated, you and the
Company agree that the Option is granted under and governed by the terms and conditions of this Notification Letter, the General Terms and the Plan, all of which together constitute the Award Agreement between you and the Company relating to the
Option. 
 Please confirm receipt of this Notification Letter by signing and returning this Notification Letter to
                     as soon as possible. You may retain a copy for your personal records. 

In the event that you do not return a copy of this Notification Letter signed by you to the person indicated above, you will be deemed to
have accepted the Option and agreed to the terms of the Award Agreement upon the exercise by you of the Option in respect of any one or more Optioned Shares. 
 Yours truly, 
 QLT Inc. 
 Per: 
 [Name] 
 [Title] 
  

									
	 Accepted and agreed to:
	 		 	Date:
				
	___________________________________	 		 		 	____________________________
		 		 		 		 	

 GENERAL TERMS AND CONDITIONS 

STOCK OPTION GRANTS TO EMPLOYEES 
  

	1.	 Defined Terms. All capitalized terms which are not defined in the Notification Letter or below have the meaning given to them in the Plan.

  

	2.	 Term. Subject to the terms and conditions of the Plan, Section 5 of these General Terms and Conditions, and this Section 2, the
Option will terminate on the earlier of: 

  

	 	(a)	The date on which the Option is exercised with respect to all of the Optioned Shares; and 

 

	 	(b)	5:00 p.m. (Vancouver time) on the Expiry Date. 

 If the end of the term of the Option falls within, or within two business days after the end of, a “black out” or similar period imposed under any insider trading policy or similar policy of the
Company (but not, for greater certainty, a restrictive period resulting from the Company or its insiders being the subject of a cease trade order of a securities regulatory authority), the end of the term of the Option will be the tenth business day
after the earlier of the end of such black out period and, provided the black out period has ended, the Expiry Date. 
  

	3.	 Vesting. Subject to the terms and conditions of the Award Agreement, the Option will vest and become exercisable in 36 equal monthly
instalments on the monthly anniversary of the Grant Date (each monthly anniversary, a “Vesting Date”), provided that, if the number of Optioned Shares is not equally divisible by 36, at each Vesting Date the cumulative number of
Optioned Shares vested will be rounded to the nearest whole number. 

  

	4.	Exercise of Options. 

  

	 	(a)	 Exercise Notice. The Grantee may exercise the Option in respect of vested Optioned Shares by giving written notice of exercise (the
“Exercise Notice”) signed and dated by the Grantee (and not postdated), stating that the Grantee elects to exercise his or her rights to purchase Optioned Shares under the Option and specifying the number of Optioned Shares in
respect of which the Option is being exercised and specifying the Option Exercise Price to be paid therefor. 

  

	 	(b)	 Delivery and Payment. The Grantee shall deliver the Exercise Notice to the Company at its principal office at 887 Great Northern Way, Suite
101, Vancouver, British Columbia, Canada, V5T 4T5 (or at such other address as the principal office of the Company may be located at the time of exercise) addressed to the attention of the Secretary or assistant secretary (if any) of the Company (or
a designee notified in writing from time to time by the Company) and be accompanied by full payment (payable at par in Vancouver, British Columbia) in any combination of the following (subject to all applicable laws): 

 

	 	(i)	cash, bank draft or certified cheque; 

	 	(ii)	 if and so long as the Common Shares are listed on an Exchange, delivery of a properly executed Exercise Notice, together with irrevocable
instructions, to 

  

	 	(A)	 a brokerage firm designated by the Company to deliver promptly to the Company the aggregate amount of sale or loan proceeds to pay the Option
Exercise Price and any withholding tax obligations that may arise in connection with the exercise, and 

  

	 	(B)	 the Company to deliver the certificates for such purchased shares directly to such brokerage firm, 

all in accordance with the regulations of any relevant regulatory authorities; 

 

	 	(iii)	 with prior written consent of the Company and subject to Section 13.3 of the Plan, written instructions from the Grantee to the Company to
effect a net settlement of Optioned Shares under the Option having a value equal to the Option Exercise Price of any Option and/or the withholding taxes due with respect to the exercise of the Option; and 

 

	 	(c)	 Certificate. As soon as practicable after any exercise of the Option, a certificate or certificates representing the Common Shares of which
the Option is exercised will be delivered by the Company to the Grantee or to the Grantee’s designated brokered firm, as applicable. 

  

	5.	 Rules Upon Retirement, Death, Disability or Termination. The Option will terminate on the earlier of the expiry of the Option under
Section 2 of these General Terms and Conditions and the 90th day (effective following the close of trading on the Exchange, if such day is a trading day) after the date of the Grantee’s Termination of Service as an employee or Consultant,
as applicable, of the Company or its Affiliates, provided that: 

  

	 	(a)	 Retirement. If the Grantee ceases to be an employee of the Company or any Affiliate by reason of retirement (the date of retirement or
cessation herein being called the “retirement date”) and: 

  

	 	(i)	 the Grantee: 

  

	 	(A)	 has worked on behalf of the Company or any Affiliate for at least 20 years, or 

 

	 	(B)	 is at least 60 years of age and has worked continuously on behalf of the Company or any Affiliate for at least five years,

 then all Optioned Shares of the Grantee will become immediately vested and will be
exercisable on and after the retirement date until the expiry of the Option; or 

	 	(ii)	 the Grantee has received the consent of the Committee at or after an earlier age and upon completion of that number of years of service as the
Committee may specify, then all Optioned Shares of the Grantee will become immediately vested and will be exercisable on and after the retirement date, during a period ending on the earlier of: 

 

	 	(A)	 the 90th day after the retirement date, and 

  

	 	(B)	the expiry of the Option, 

unless otherwise determined by the Committee and approved by the Exchange (if applicable). 

 

	 	(b)	 Death. If the Grantee dies while the Option is otherwise exercisable, unless otherwise determined by the Committee and approved by the
Exchange (if applicable), all Optioned Shares of the Grantee will become immediately vested and will be exercisable by the legal personal representatives of the estate of the Grantee during a period ending on the earlier of:

  

	 	(i)	the date that is 12 months following the date of death, and 

  

	 	(ii)	the expiry of the Option. 

  

	 	(c)	 Disability. If the Committee determines, in its sole discretion, that the continuous service of the Grantee as an officer or employee of the
Company or any Affiliate has been interrupted or terminated as a result of the Grantee’s complete disability, as determined by the Committee, in its sole discretion, (but no interruption or termination will be deemed to have occurred in the
case of sick leave or any other leave of absence approved of by the Board, provided that either such leave is for a period of not more than 90 days or reemployment upon the expiration of such leave is provided or guaranteed by contract or law),
unless otherwise determined by the Committee and approved by the Exchange (if applicable), the Optioned Shares will become immediately vested and will be exercisable by the Grantee (or in the case of a Grantee who is legally incapacitated, by his or
her guardians or legal representatives) during the period ending on the earlier of: 

  

	 	(i)	12 months following the date of such termination, and 

  

	 	(ii)	the expiry of the Option. 

  

	 	(d)	 Termination. If the Grantee is terminated by the Company as an employee of the Company or any Affiliate for cause, unless otherwise
determined by the Committee and approved by the Exchange (if applicable), the Option will expire automatically on the date of the Grantee’s Termination of Service as an employee of the Company or any Affiliate. 

The Optioned Shares will cease to vest (on a monthly basis or at all) after the date of the Grantee’s Termination of
Service as an employee of the Company. 

	6.	Change in Control. 

  

	 	(a)	Definitions. For the purposes of this Section, “Change in Control” means any of the following events: 

 

	 	(i)	 Merger. A merger, consolidation, reorganization or arrangement involving the Company, other than a merger, consolidation, reorganization or
arrangement in which stockholders of the Company immediately prior to such merger, consolidation, reorganization or arrangement own, directly or indirectly, securities possessing at least 50% of the total combined voting power of the outstanding
voting securities of the corporation resulting from such merger, consolidation, reorganization or arrangement in substantially the same proportion as their ownership of such voting securities immediately prior to such merger, consolidation,
reorganization or arrangement; 

  

	 	(ii)	 Tender Offer. The acquisition, directly or indirectly, by any person or group of persons acting jointly or in concert (other than the Company
or a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) of beneficial ownership of securities possessing more than 50% of the total combined voting power of the Company’s outstanding
securities pursuant to a tender offer (which for greater certainty, includes a takeover bid) made directly to the Company’s stockholders; 

  

	 	(iii)	 Sale. The sale, transfer or other disposition of all or substantially all of the assets of the Company other than a sale, transfer or other
disposition to an Affiliate of the Company or to an entity in which stockholders of the Company immediately prior to such sale, transfer or other disposition own, directly or indirectly, securities possessing at least 50% of the total combined
voting power of the outstanding voting securities of the purchasing entity in substantially the same proportion as their ownership of such voting securities immediately prior to sale, transfer or other disposition; or 

 

	 	(iv)	 Board Change. A change in the composition of the Board over a period of 24 consecutive months or less such that a majority of the Board
members ceases to be comprised of individuals who either have been: 

  

	 	(A)	Board members continuously since the beginning of such period, or 

  

	 	(B)	 appointed or nominated for election as Board members during such period by at least a majority of the Board members described in subsection
(A) above who were still in office at the time the Board approved such appointment or nomination. 

  

	 	(b)	 Acceleration. Effective immediately upon the occurrence of a Change in Control, any portion of the Option of the Grantee that is unvested
will, to the extent determined by the Board or the Committee in its sole discretion with respect to the Change of Control, become immediately vested and will be exercisable on and after the date of the Change of Control until the expiry of the
Option. 

  

	7.	 Conditions to Exercise. Notwithstanding any of the provisions of the Award Agreement, the Company’s obligation to issue Common Shares to
the Grantee upon exercise of the Option is subject to the following: 

  

	 	(a)	 Qualification. Completion of registration or other qualification of the Common Shares or obtaining approval of such governmental authority as
the Company determines is necessary or advisable in connection with the authorization, issuance or sale of the Common Shares; 

	 	(b)	Listing. The admission of the Common Shares to listing or quotation on the Exchange; and 

 

	 	(c)	 Undertakings. The receipt by the Company from the Grantee of such representations, agreements and undertakings, including as to future
dealings in the Common Shares, as the Company or its counsel determines are necessary or advisable in order to safeguard against the violation of securities laws of any jurisdiction. 

 

	8.	 Adjustments. In the event that there is any material change in the Common Shares resulting from subdivisions, consolidations, substitutions
or reclassifications of the Common Shares, the payment of stock dividends by the Company (other than dividends in the ordinary course) or other relevant changes in the capital of the Company or from a proposed merger, amalgamation or other corporate
arrangement or reorganization involving the exchange or replacement of Common Shares for those in another corporation, appropriate adjustments in the number of Optioned Shares and the Option Exercise Price will be conclusively determined by the
Committee. 

  

	9.	 Further Adjustments. Subject to Sections 6 and 8, if, because of a merger, amalgamation or other corporate arrangement or reorganization, the
exchange or replacement of Common Shares for those in another corporation is imminent, the Board may, in a fair and equitable manner, determine the manner in which all unexercised or unvested options granted under this Option will be treated
including, without limitation, requiring the acceleration of the time for the exercise and/or vesting of the option rights by the Grantee and of the time for the fulfilment of any conditions or restrictions on exercise or vesting. All determinations
of the Board under this Section will be final, binding and conclusive for all purposes subject to the approval of the Exchange, if applicable. 

  

	10.	 Tax. The Grantee is solely responsible for the payment of any applicable taxes arising from the grant, vesting, settlement or exercise of the
Option and any payment is to be in a manner satisfactory to the Company. Notwithstanding the foregoing, the Company will have the right to withhold from any amount payable to a Grantee, either under the Plan or otherwise, such amount as may be
necessary to enable the Company to comply with the applicable requirements of any federal, provincial, state, local or foreign law, or any administrative policy of any applicable tax authority, relating to the withholding of tax or any other
required deductions with respect to the Option (the “Withholding Obligations”). The Company may require the Grantee, as a condition to the exercise or settlement of the Option, to make such arrangements as the Company may require so
that the Company can satisfy applicable Withholding Obligations, including, without limitation, requiring the Grantee to (i) remit the amount of any such Withholding Obligations to the Company in advance; (ii) reimburse the Company for any
such Withholding Obligations; (iii) deliver written instructions contemplated in Section 4(b)(iii) hereof, to effect a net settlement of Common Shares under an Option in an amount required to satisfy any such Withholding Obligations; or
(iv) pursuant to Section 4(b)(ii) hereof, cause such broker to withhold from the proceeds realized from such transaction the amount required to satisfy any such Withholding Obligations and to remit such amount directly to the Company.

	11.	 Black Out Periods. The Grantee acknowledges and agrees that the Award Agreement and the grant of the Option to the Grantee is subject to the
Grantee’s agreement to at all times comply with the Company’s policies with respect to black out periods, as more particularly set out in the Company’s Trading Policy, as amended from time to time. 

 

	12.	 No Rights as Shareholder. The Grantee will not have any rights as a Shareholder with respect to any of the Optioned Shares underlying the
Option until such time as the Grantee becomes the record owner of such Optioned Shares. 

  

	13.	 No Effect on Employment. Nothing in the Award Agreement will: 

 

	 	(a)	 Continue Employment. Confer upon the Grantee any right to continue in the employ of or under contract with the Company or any Affiliate or
affect in any way the right of the Company or any Affiliate to terminate his or her employment at any time. 

  

	 	(b)	 Extend Employment. Be construed to constitute an agreement, or an expression of intent, on the part of the Company or any Affiliate to extend
the employment of the Grantee beyond the time that he or she would normally be retired pursuant to the provisions of any present or future retirement plan or policy of the Company or any Affiliate, or beyond the time at which he or she would
otherwise be retired pursuant to the provisions of any contract of employment with the Company or any Affiliate. 

  

	14.	 Enurement. The Award Agreement shall enure to the benefit of and be binding upon the parties to the Award Agreement and upon the successors
or assigns of the Company and upon the executors, administrators and legal personal representatives of the Grantee. 

  

	15.	 Further Assurances. Each of the parties to the Award Agreement will do such further acts and execute such further documents as may required
to give effect to and carry out the intent of the Award Agreement. 

  

	16.	 Non-Assignable. The Option is personal to the Grantee and may not be assigned or transferred in whole or in part, except by will or by the
operation of the laws of devolution or distribution and descent. 

  

	17.	 Amendments. Any amendments to the Award Agreement must be in writing duly executed by the parties and will (if required) be subject to the
approval of the applicable regulatory authorities. 

  

	18.	 Time of the Essence. Time is of the essence of the Award Agreement. 

 

	19.	 Governing Law. The Award Agreement shall be governed, construed and enforced according to the laws of the Province of British Columbia and is
subject to the exclusive jurisdiction of the courts of the Province of British Columbia. 

  

	20.	 Interpretation of the Award Agreement and the Plan. If any question or dispute arises as to the interpretation of the Award Agreement, the
question or dispute will be determined by the Committee and such determination will be final, conclusive and binding for all purposes on both the Company and the Grantee. 

	21.	 Conflict Between these General Terms and Conditions and the Plan. If there is any conflict between these General Terms and the Plan, the
Plan, as amended from time to time, will govern. 

 These General Terms and Conditions are dated for reference:
July 15, 2013

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00219-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00219-of-00352.parquet"}]]