Document:

ex4-6.htm

    
      

      

    

    EXHIBIT
4.6

    CROSSHAIR
EXPLORATION & MINING CORP.

    (the
“Company”)

     

    AMENDED
STOCK OPTION PLAN AS OF JULY 31, 2008

    (as
approved by shareholders on September 15, 2008)

     

    
      
        	
                ARTICLE
      1    PURPOSE AND
INTERPRETATION

              

      

    

     

     

    
      	
              1.1

            	
              PURPOSE

            

    

     

    The
purpose of the Plan shall be to attract, retain and provide incentives to
Service Providers, Insiders and employees of the Company and its Designated
Affiliates and to advance the interests of the Company by facilitating equity
participation in the Company by such persons through the acquisition of Common
Shares of the Company.

     

     

    
      	
              1.2

            	
              DEFINITIONS

            

    

     

    In the
Plan, the following capitalized words and terms shall have the following
meanings:

     

    
      	
               
      

            	
              (a)

            	
              “Act”
      means the Business
      Corporations Act (British Columbia) or its successor, as amended
      from time to time;

            

    

     

    
      	
               
      

            	
              (b)

            	
              “Affiliate”
      shall have the meaning ascribed thereto in the
  Act;

            

    

     

    
      	
               
      

            	
              (c)

            	
              “Associate”
      shall have the meaning ascribed thereto in the Securities Act (British
      Columbia);

            

    

     

    
      	
               
      

            	
              (d)

            	
              “Board”
      shall mean the board of directors of the Company or any committee of
      directors appointed by the directors pursuant to Section 3.2
      hereof;

            

    

     

    
      	
               
      

            	
              (e)

            	
              “Common
      Shares” means the common shares of the
Company;

            

    

     

    
      	
               
      

            	
              (f)

            	
              “Company”
      means Crosshair Exploration & Mining Corp. and any successor or
      continuing corporation thereof;

            

    

     

    
      	
               
      

            	
              (g)

            	
              “Designated
      Affiliate” means the Affiliates and Subsidiaries of the Company designated
      by the Board for purposes of the Plan from time to
  time;

            

    

     

    
      	
               
      

            	
              (h)

            	
              “Employment
      Contract” means any contract between the Company or any Designated
      Affiliate of the Company and any director, officer or employee of the
      Company or a Designated Affiliate relating to, or entered into in
      connection with, the election, appointment or employment of such person or
      any other agreement to which the Company or its Designated Affiliate is a
      party with respect to the rights of such Participant in respect of a
      change in control of the Company or the termination of the election,
      appointment, employment or engagement of such
  Participant;

            

    

     

    
      	
               
      

            	
              (i)

            	
              “Exchange”
      means the Toronto Stock Exchange;

            

    

    
      
        
        

      

      
        - 1
-

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              (j)

            	
              “Expiry
      Date” means the date set by the Board under section 2.5(a) of the Plan, as
      the last date on which an Option may be
  exercised;

            

    

     

    
      	
               
      

            	
              (k)

            	
              “Insider”
      shall have the meaning ascribed thereto in the Exchange Company
      Manual;

            

    

     

    
      	
               
      

            	
              (l)

            	
              “Issuer”
      shall have the meaning ascribed thereto in the Securities Act (British
      Columbia);

            

    

     

    
      	
               
      

            	
              (m)

            	
              “Issuer
      Bid” shall have the meaning ascribed thereto in the Securities Act (British
      Columbia);

            

    

     

    
      	
               
      

            	
              (n)

            	
              “Option”
      means option to purchase Common Shares granted
  hereunder;

            

    

     

    
      	
               
      

            	
              (o)

            	
              “Option
      Certificate” means a certificate, in the form attached hereto as Schedule
      “A”, whereby the Company grants to an Optionee an
  Option.

            

    

     

    
      	
               
      

            	
              (p)

            	
              “Option
      Shares” means the aggregate number of Common Shares which an Optionee may
      purchase under an Option.

            

    

     

    
      	
               
      

            	
              (q)

            	
              “Optionee”
      shall mean a Participant to whom an Option has been granted pursuant to
      the Plan;

            

    

     

    
      	
               
      

            	
              (r)

            	
              “Outstanding
      Issue” means on any date, the number of Common Shares of the Company
      issued and outstanding;

            

    

     

    
      	
               
      

            	
              (s)

            	
              “Participant”
      means those Service Providers, Insiders and employees of the Company and
      its Designated Affiliates who shall be granted Options pursuant to the
      Plan as determined by the Board and as may be permitted under the Securities Act (British
      Columbia) from time to time;

            

    

     

    
      	
               
      

            	
              (t)

            	
              “Person”
      means a Company or individual;

            

    

     

    
      	
               
      

            	
              (u)

            	
              “Plan”
      means this Stock Option Plan, as it may be amended from time to
      time;

            

    

     

    
      	
               
      

            	
              (v)

            	
              “Securities
      Act” means the Securities Act (British
      Columbia) or its successor, as amended from time to
  time;

            

    

     

    
      	
               
      

            	
              (w)

            	
              “Service
      Provider” means any person or company engaged to provide management or
      consulting services for the Corporation or any Designated Affiliate under
      a written agreement for an initial, renewable or extended period of twelve
      months or more;

            

    

     

    
      	
               
      

            	
              (x)

            	
              “Subsidiary”
      shall have the meaning ascribed thereto in the Securities Act;
      and

            

    

     

    
      	
               
      

            	
              (y)

            	
              “Take-over
      Bid” shall have the meaning ascribed thereto in the Securities
      Act.

            

    

     

    
      	
               
      

            	
              (z)

            	
              “Unissued
      Option Shares” means the number of Common Shares, at a particular time,
      which have been allotted for issuance upon the exercise of an Option but
      which have not been issued, as adjusted from time to time in accordance
      with the provisions of section 3.6, such adjustments to be
      cumulative.

            

    

     

    
      	
               
      

            	
              (aa)

            	
              “Vested”
      means that an Option has become exercisable in respect of a number of
      Option Shares by the Optionee pursuant to the terms of the Option
      Certificate.

            

    

     

    
      
        
        

      

      
        - 2
-

        
          

        

      

      
        
        

      

    

    
      
        	
                ARTIBLE
      2    TERMS OF
OPTIONS

              

      

    

     

     

    
      	
              2.1

            	
              THE
      PLAN

            

    

     

    The Plan
is hereby established pursuant to which Options to purchase Common Shares of the
Company may be granted to Service Providers, Insiders and employees of the
Company and its Designated Affiliates in accordance with the terms and
conditions set forth herein.

     

     

    
      	
              2.2

            	
              PARTICIPATION
      IN PLAN

            

    

     

    The Board
shall from time to time determine the Participants who may participate in the
Plan and the number of Common Shares to be made subject to Options granted to
Participants under the Plan. All such determinations shall be made in accordance
with the terms and conditions of the Plan, the Securities Act and the rules and
policies of the Exchange, and the Board may take into consideration the present
and potential contribution of each Participant to the success of the Company and
any other factors which the Board deems appropriate and relevant.  The
following restrictions on Option grants under the Plan apply:

     

    
      	
               
      

            	
              (a)

            	
              an
      individual can receive grants of no more than 5% of the issued and
      outstanding share capital of the Company on a yearly
  basis;

            

    

     

    
      	
               
      

            	
              (b)

            	
              unless
      disinterested shareholder approval is obtained, the aggregate number of
      Common Shares that may be reserved for issuance to the Insiders of the
      Company (i) at the time of grant, or (ii) within a one-year period,
      pursuant to this Plan or any other previously established and outstanding
      option plans or grants, shall not exceed 10% of the issued and outstanding
      share capital of the Company at the time of the grant;
  and

            

    

     

    
      	
               
      

            	
              (c)

            	
              all
      Option grants are exercisable for a maximum of ten years from the date of
      the grant.

            

    

     

     

    
      	
              2.3

            	
              MAXIMUM
      NUMBER OF COMMON SHARES

            

    

     

    The
number of Common Shares issuable pursuant to Options to purchase Common Shares
granted pursuant to the Plan shall not in the aggregate exceed 11,308,528 Common
Shares, subject to any adjustments made pursuant to section
3.6.

     

     

    
      	
              2.4

            	
              PRICE

            

    

     

    The
exercise price per Common Share for Options granted pursuant to the Plan shall
be determined by the Board at the time the Option is granted, provided that such
price shall not be less than the closing price of the Company’s Common Shares as
traded on the Exchange on the last trading day immediately preceding the date of
the grant of the Option.  In the event that the Common Shares are not
listed on the Exchange at the time of the grant, the Option exercise price shall
not be less than the price allowed by any other stock exchange or regulatory
authority having jurisdiction.

     

     

    
      	
              2.5

            	
              TERMS
      OF OPTIONS

            

    

     

    
      	
               
      

            	
              (a)

            	
              The
      term of each Option granted pursuant to the Plan shall be determined by
      the Board in its discretion at the time the Option is granted, provided
      however that in no event shall any Option be exercisable following 10
      years from the date of the grant of the
Option;

            

    

     

    
      
        
        

      

      
        - 3
-

        
          

        

      

      
        
        

      

    

    provided,
however, that if at any time the expiry of the term of an Option should be
determined to occur either during a period in which the trading of Common Shares
by the Optionee is restricted under the insider trading policy or other policy
of the Company or within ten business days following such a period, such date
shall be deemed to be the date that is the tenth business day following the date
of expiry of such restriction.

     

    
      	
               
      

            	
              (b)

            	
              Except
      as provided pursuant to Sections 2.8 and 2.9, no Option may be exercised
      unless the Participant is, at the time of such exercise, a bona fide
      Service Provider, Insider or employee of the Company or any of its
      Designated Affiliates, as the case may be, and shall have been
      continuously such a bona fide Service Provider, Insider or employee since
      the grant of the Option, as the case may be. Absence on leave with the
      approval of the Company or a Designated Affiliate shall not be considered
      an interruption of employment for purposes of the
  Plan.

            

    

     

    
      	
               
      

            	
              (c)

            	
              If
      there is a Take-over Bid or Issuer Bid made for all or a portion of the
      issued and outstanding Common Shares, the Board may, by resolution and
      subject to the prior approval of the Exchange if the Company is listed on
      the Exchange at such time, permit all Options outstanding to become
      immediately exercisable (notwithstanding any condition or provision
      prescribed by the Board at the time of the grant of the Option) in order
      to permit Common Shares issuable under such Options to be tendered to such
      Take-over Bid or Issuer Bid.

            

    

     

     

    
      	
              2.6

            	
              EXERCISE
      OF OPTION

            

    

     

    
      	
               
      

            	
              (a)

            	
              Subject
      to subparagraph (c), an Option may be exercised to purchase any number of
      Common Shares up to the number of Vested Unissued Option Shares at any
      time after the date of the grant of the Option and up to 5:00 p.m. local
      time on the Expiry Date and shall not be exercisable
      thereafter.

            

    

     

    
      	
               
      

            	
              (b)

            	
              The
      Option shall be exercisable by delivering to the Company a notice
      specifying the number of Common Shares in respect of which the Option is
      exercised together with payment in full of the purchase price of the
      Common Shares which are the subject of the exercised Option. No
      Participant or his or her legal representatives or distributees will be,
      or will be deemed to be, a holder of any Common Shares with respect to
      which the Participant was granted an Option under the Plan, unless and
      until certificates for such Common Shares are issued in accordance with
      the terms of the Plan.

            

    

     

    
      	
               
      

            	
              (c)

            	
              The
      Board may, at the time an option is granted under the Plan or upon
      renegotiation of the same, attach restrictions relating to the exercise of
      the Option, including vesting provision. Any such restrictions shall be
      recorded on the applicable Option Certificate attached as Schedule A to
      this Plan.

            

    

     

     

    
      	
              2.7

            	
              LAPSED
      OPTIONS

            

    

     

    In the
event that Options granted under the Plan are cancelled or surrendered (other
than for compensation), terminate or expire without being exercised in whole or
in part in accordance with the terms of the Plan, new Options may be granted in
respect of the number of Common Shares not purchased under such lapsed
options.

    
       

      
        
          
          

        

        
          - 4
-

          
            

          

        

        
          
          

        

      

      
        	
                2.8

              	
                TERMINATION
      OF EMPLOYMENT

              

      

      
      

    

     

    If a
Participant shall:

     

    
      	
               
      

            	
              (a)

            	
              cease
      to be an Insider of the Company and any of its Designated Affiliates (and
      is not or does not continue to be an employee
  thereof);

            

    

     

    
      	
               
      

            	
              (b)

            	
              cease
      to be employed by the Company or any of its Designated Affiliates (and is
      not or does not continue to be a director thereof) for any reason (other
      than by reason of the death of the Participant) or shall receive notice
      from the Company or any of its Designated Affiliates of the termination of
      the Participant’s employment; or

            

    

     

    
      	
               
      

            	
              (c)

            	
              cease
      to be a Service Provider (and is not or does not continue to be an
      employee or Insider of the Company or any of its Designated
      Affiliates);

            

    

     

    (collectively,
“Termination”) the Participant shall have such rights to exercise any fully
Vested Option not exercised prior to such Termination within a period of 30
calendar days after the date of Termination.

     

     

    
      	
              2.9

            	
              DEATH
      OF PARTICIPANT

            

    

     

    In the
event of the death of a Participant who is an Insider of the Company or any of
its Designated Affiliates or who is an employee having been continuously in the
employ of the Company or any of its Designated Affiliates for one year from and
after the date of the granting of such Participant’s Option, or the death of an
individual who is a Service Provider or the shareholder of a Participant which
is a Service Provider, where that individual has provided services to the
Company or any of its Designated Affiliates (if applicable, through the Service
Provider company) for one year from and after the date of the granting of the
Service Provider’s Option, the Option theretofore granted to such Participant
shall only be exercisable until the earlier of the expiry of the 365 day period
next succeeding such death and the Expiry Date, and then only:

     

    
      	
               
      

            	
              (a)

            	
              by
      the person or persons to whom the Participant’s rights under the Option
      shall pass by the Participant’s or the Participant’s shareholder’s will or
      the laws of descent and distribution;
and

            

    

     

    
      	
               
      

            	
              (b)

            	
              to
      the extent that the Participant was entitled to exercise the option at the
      date of his or her death.

            

    

     

     

    
      	
              2.10

            	
              TRANSFERABILITY
      AND ASSIGNABILITY

            

    

     

    The
benefits, rights and Options accruing to any Participant in accordance with the
terms and conditions of the Plan shall not be transferable or assignable by a
Participant or exercisable by any person other than the Participant except as
specifically provided herein.

     

     

    
      	
              2.11

            	
              NECESSARY
      APPROVALS

            

    

     

    The
obligation of the Company to issue and deliver any Common Shares in accordance
with the Plan shall be subject to any necessary approval of the regulatory
authority having jurisdiction over the securities of the Company. If any Common
Shares cannot be issued to any Participant for whatever

     

    
      
        
        

      

      
        - 5
-

        
          

        

      

      
        
        

      

    

    reason,
the obligation of the Company to issue such Common Shares shall terminate and
any option exercise price paid to the Company shall be returned to the
Participant.

     

    
      
        	
                ARTICLE
      3    GENERAL

              

      

    

     

     

    
      	
              3.1

            	
              ADMINISTRATION
      OF THE PLAN

            

    

     

    The Plan
shall be administered by the Board and the Board shall have full authority to
administer the Plan including the authority to interpret and construe any
provision of the Plan and to adopt, amend and rescind such rules and regulations
for administering the Plan as the Board may deem necessary in order to comply
with the requirements of the Plan. All actions taken and all interpretations and
determinations made by the Board in good faith shall be final and conclusive and
shall be binding on the Participants and the Company. No member of the Board
shall be personally liable for any action taken or determination or
interpretation made in good faith in connection with the Plan and all members of
the Board shall, in addition to their rights as directors, be fully protected,
indemnified and held harmless by the Company with respect to any such action
taken or determination or interpretation made. The appropriate officers of the
Company are hereby authorized and empowered to do all things and execute and
deliver all instruments, undertakings and applications and writings as they, in
their absolute discretion, consider necessary for the implementation of the Plan
and of the rules and regulations established for administering the Plan. All
costs incurred in connection with the Plan shall be for the account of the
Company.

     

     

    
      	
              3.2

            	
              DELEGATION
      TO COMMITTEE

            

    

     

    All of
the powers exercisable hereunder, otherwise than pursuant to Section 3.3 hereof,
may, to the extent permitted by applicable law and authorized by resolution of
the Board be exercised by a committee of the Board consisting of not less than
three directors, including any executive committee or compensation committee of
the Board.

     

     

    
      	
              3.3

            	
              RECORD
      KEEPING

            

    

     

    The
Company shall maintain a register in which shall be recorded:

     

    
      	
               
      

            	
              (a)

            	
              the
      name and address of each
Participant;

            

    

     

    
      	
               
      

            	
              (b)

            	
              the
      number of Options granted to each Participant;
  and

            

    

     

    
      	
               
      

            	
              (c)

            	
              the
      aggregate number of Common Shares subject to Options granted under the
      Plan.

            

    

     

    
      
        	
                3.4

              	
                EMPLOYMENT

              

      

       

      Nothing
contained in the Plan shall confer upon any Participant any right with respect
to employment or continuance of employment with the Company or any Affiliate, or
interfere in any way with the right of the Company or any Affiliate to terminate
the Participant’s employment at any time. Participation in the Plan by a
Participant shall be voluntary.

    

     

     

    
      
        
        

      

      
        - 6
-

        
          

        

      

      
        
        

      

    

     

    
      
        	
                3.5

              	
                AMENDMENT
      OF THE PLAN

              

      

    

     

    The Board
shall have the power to, at any time and from time to time, either prospectively
or retrospectively, amend, suspend or terminate the Plan or any Option granted
under the Plan, including, without limiting the generality of the foregoing,
changes of a clerical or grammatical nature, changes regarding the Participants
who may participate in the Plan, changes to the exercise price of Options,
changes to the term of Options, changes regarding the right to exercise Options
after Termination, changes to add a cashless exercise feature to the Plan, and
changes regarding the vesting of Options; provided however that:

     

    
      	
               
      

            	
              (a)

            	
              such
      amendment, suspension or termination is in accordance with applicable laws
      and the rules of any stock exchange on which the Common Shares are
      listed;

            

    

     

    
      	
               
      

            	
              (b)

            	
              the
      Board shall obtain shareholder approval of the
  following:

            

    

     

    
      	
               
      

            	
              (i)

            	
              any
      amendment to the maximum number of Common Shares specified in Section 2.3
      in respect of which Options may be granted under the Plan (other than
      pursuant to Section 3.6);

            

    

     

    
      	
               
      

            	
              (ii)

            	
              any
      amendment that would reduce the exercise price of an outstanding Option of
      an Insider (other than pursuant to Section 3.6);
  and

            

    

     

    
      	
               
      

            	
              (iii)

            	
              any
      amendment that would extend the term of any Option granted under the Plan
      to an Insider beyond the Expiry
Date

            

    

     

     

    
      	
              3.6

            	
              ADJUSTMENT
      IN SHARES SUBJECT TO THE PLAN

            

    

     

    In the
event there is any change in the number of issued Common Shares of the Company
through the declaration of stock dividends or subdivisions, consolidations or
exchanges of Common Shares, or otherwise, the number of Common Shares available
under the Plan, the number of Common Shares subject to Options granted under the
Plan, and the exercise price thereof shall be adjusted appropriately by the
Board, with the prior approval of and any stock exchange or regulatory body
having jurisdiction over the securities of the Company, and such adjustment
shall be effective and binding for all purposes of the Plan.

     

     

    
      	
              3.7

            	
              AMALGAMATION,
      CONSOLIDATION OR MERGER

            

    

     

    If the
Company amalgamates, consolidates with or merges, with or into another
corporation, any Common Shares receivable on the exercise of an Option granted
under the Plan shall be converted into the securities, property or cash which
the Participant would have received upon such amalgamation, consolidation or
merger had the Option been exercised prior to such event.

     

     

    
      	
              3.8

            	
              SECURITIES
      EXCHANGE TAKE-OVER BID

            

    

     

    In the
event that the Company becomes the subject of a Take-Over Bid pursuant to which
100% of the issued and outstanding Common Shares are acquired by the offeror
either directly or as a result of the compulsory acquisition provisions of the
governing statute of incorporation, and where consideration is paid in whole or
in part in equity securities of the offeror, the Board may, subject to the prior
approval of the Exchange if the Company is listed on the Exchange at such time,
send notice to all Optionees

     

    
      
        
        

      

      
        - 7
-

        
          

        

      

      
        
        

      

    

    requiring
them to surrender their Options within 10 days of the mailing of such notice,
and the Optionees shall be deemed to have surrendered such Options on the tenth
day after the mailing of such notice without further formality, provided
that:

     

    
      	
               
      

            	
              (a)

            	
              the
      offeror delivers with such notice an irrevocable and unconditional offer
      to grant replacement options to the Optionees to purchase the equity
      securities offered pursuant to such take-over
  bid;

            

    

     

    
      	
               
      

            	
              (b)

            	
              the
      Board shall have determined, in good faith, that such replacement options
      have substantially the same economic value as the Options being
      surrendered; and

            

    

     

    
      	
               
      

            	
              (c)

            	
              the
      surrender of Options and the granting of replacement options can be
      effected on a tax free roll-over basis under the Income Tax Act
      (Canada).

            

    

     

     

    
      	
              3.9

            	
              NO
      REPRESENTATION OR WARRANTY

            

    

     

    The
Company makes no representation or warranty as to the future market value of any
Common Shares issued in accordance with the provisions of the Plan.

     

     

    
      	
              3.10

            	
              INTERPRETATION

            

    

     

    The Plan
shall be governed and construed in accordance with the laws of the Province of
British Columbia.

     

     

    
      
        
        

      

      
        - 8
-

        
          

        

      

      
        
        

      

    

    

    SCHEDULE
“A”

     

    CROSSHAIR
EXPLORATION & MINING CORP.

    (FORMERLY
INTERNATIONAL LIMA RESOURCES CORP.)

     

    STOCK
OPTION PLAN

     

    FORM
OF OPTION CERTIFICATE

     

    CROSSHAIR
EXPLORATION & MINING CORP.

     

    OPTION CERTIFICATE

     

    This Option Certificate is issued
by Crosshair Exploration & Mining Corp. (the “Company”) pursuant to the
Stock Option Plan (the “Plan”), a copy of which is attached hereto, and confirms
that:

     

    
      	
              1.

            	
              on
      [DATE OF GRANT] (the “Grant Date”);

            

    

     

    
      	
              2.

            	
              [NAME
      OF OPTIONEE], of [ADDRESS OF OPTIONEE] (the
  “Optionee”);

            

    

     

    
      	
              3.

            	
              was
      granted the option (the “Option”) to purchase [NUMBER] Common Shares (the
      “Option Shares”) of the Company;

            

    

     

    
      	
              4.

            	
              for
      the price (the “Option Price”) of $[EXERCISE PRICE]  per
      share;

            

    

     

    
      	
              5.

            	
              terminating
      on the [DATE] (the “Expiry Date”);

            

    

     

    
      	
              6.

            	
              Option
      Shares may be exercised from time to time prior to the Expiry Date as
      follows:

            

    

     

    
      	
               
      

            	
              (a)

            	
              [INSERT
      VESTING PROVISIONS] or
      if no vesting provisions: [at any time after the Grant Date of the
      Option, the Optionee may purchase up to 100% of the total number of Option
      Shares;]

            

    

     

    
      	
              7.

            	
              notwithstanding
      the provisions of paragraph 6, the Option shall not be exercisable until
      such time as the Plan has been approved by the Company’s
      shareholders;

            

    

     

    all on
the terms and subject to the conditions as set out in the Plan.  For
greater certainty, once Option Shares have become Vested, they continue to be
exercisable until the termination or cancellation thereof as provided in this
Option Certificate and the Plan.

     

     

    Effective as of the _____ day of
______________, 200__.

     

     

    
      
         

      

      
        - 1
-

        
          

        

      

      
         

      

    

     

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	
                                    THE
      COMMON SEAL OF CROSSHAIR

                                  	
                                    )

                                  	 
      	 
	
                                    EXPLORATION & MINING
      CORP. was affixed

                                  	
                                    )

                                  	 
      	 
	
                                    in
      the presence of:

                                  	
                                    )

                                  	 
      	 
	 
      	
                                    )

                                  	
                                    C/S

                                  	 
	
                                    Authorized
      Signatory

                                  	
                                    )

                                  	 
      	 
	 
      	
                                    )

                                  	 
      	 
	
                                    Authorized
      Signatory

                                  	
                                    )

                                  	 
      	 
	 
      	
                                    )

                                  	 
      	 

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

     

     

    - 2 -ex4-7.htm

    
      

      

    

    EXHIBIT 4.7

    

     

    OPTION
CERTIFICATE

     

     

    This Option Certificate is issued
by Crosshair Exploration & Mining Corp. (the “Company”) pursuant to the
Stock Option Plan (the “Plan”), a copy of which is attached hereto, and confirms
that:

     

    
      	
              1.  

            	
              on
      [DATE OF GRANT] (the
“Grant Date”);

            

    

     

    
      	
              2.  

            	
              [NAME
      OF OPTIONEE], of [ADDRESS OF OPTIONEE] (the
  “Optionee”);

            

    

     

    
      	
              3.  

            	
              was
      granted the option (the “Option”) to purchase [NUMBER] Common Shares (the
      “Option Shares”) of the Company;

            

    

     

    
      	
              4.  

            	
              for
      the price (the “Option Price”) of $[EXERCISE PRICE]  per
      share;

            

    

     

    
      	
              5.  

            	
              terminating
      on the [DATE] (the “Expiry Date”);

            

    

     

    
      	
              6.  

            	
              Option
      Shares may be exercised from time to time prior to the Expiry Date as
      follows:

            

    

     

    
      	
              (a)  

            	
              [INSERT
      VESTING PROVISIONS] or
      if no vesting provisions: [at any time after the Grant Date of the
      Option, the Optionee may purchase up to 100% of the total number of Option
      Shares;]

            

    

     

    
      	
              7.  

            	
              notwithstanding
      the provisions of paragraph 6, the Option shall not be exercisable until
      such time as the Plan has been approved by the Company’s
      shareholders;

            

    

     

    all on
the terms and subject to the conditions as set out in the Plan.  For
greater certainty, once Option Shares have become Vested, they continue to be
exercisable until the termination or cancellation thereof as provided in this
Option Certificate and the Plan.

     

     

    Effective as of the _____ day of
______________, 200__.

     

     

    
      
        
          
            
              
                
                  	
                          THE
      COMMON SEAL OF CROSSHAIR

                        	
                          )

                        	 
      	 
	
                          EXPLORATION & MINING
      CORP. was affixed

                        	
                          )

                        	 
      	 
	
                          in
      the presence of:

                        	
                          )

                        	 
      	 
	 
      	
                          )

                        	
                          C/S

                        	 
	
                          Authorized
      Signatory

                        	
                          )

                        	 
      	 
	 
      	
                          )

                        	 
      	 
	
                          Authorized
      Signatory

                        	
                          )

                        	 
      	 
	 
      	
                          )

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}]]