Let's hope they were re-elected!

Too costly to get rid of them...

Peter H. Smith, Chairman of the Board, President and CEO - $644,000

The agreement provides for a severance payment of $500,000, plus the greater of: (i) two (2) years’ compensation and (ii) the total amount which remains to be paid under the agreement, which must be paid if there is a “Change of Control” as defined below or if the consultant is terminated, demoted or otherwise constructively dismissed or removed as a director.

 Debra Chapman, CFO - $346,000

 The agreement provides for a severance payment of $250,000, plus the greater of: (i) two (2) years’ compensation and (ii) the total amount which remains to be paid under the agreement, which must be paid if there is a “Change of Control” as defined below or if the consultant is terminated, demoted or otherwise constructively dismissed or removed as a director.

Fouad Kamaleddine, Vice President, Research and Development - $322,000

The agreement provides for a severance payment of $250,000, plus the greater of: (i) two (2) years’ compensation and (ii) the total amount which remains to be paid under the agreement, which must be paid if there is a “Change of Control” as defined below or if the consultant is terminated, demoted or otherwise constructively dismissed or removed as a director.

Change of Control

“Change of Control” means either:

(a) the transfer to or acquisition of at least Twenty Five Percent (25%) of the total issued and outstanding common voting securities of the Company from time to time, by one person or a group of persons acting in concert, either through one transaction or a series of transactions over time after the date hereof, and whether through the acquisition of previously issued voting securities, voting securities that have not been previously issued, or any combination thereof, or any transaction having a similar effect;

(b) Twenty-Five Percent (25%) or more of the issued and outstanding voting securities of the Company become subject to a voting trust;

(c) the Company, directly or indirectly, amalgamates, consolidates or otherwise merges with any other body corporate or bodies corporate, other than a wholly owned subsidiary;

(d) the Company decides to sell, lease, or otherwise dispose of all or substantially all of its assets and undertaking, whether in one or more transactions; or

(e) the Company enters into a transaction or arrangement which would have the same or similar effect as the transactions referred to in sub-paragraphs (c) or (d) above.