good on them !
Frankly, no PM Company should be issuing options this year in these market conditions.
| (ii) |
provide that shareholder approval shall be required in order to amend the Option Plan where any such amendments would (I) reduce the exercise price of any existing option or result in the cancellation and proximate re-issuance of any existing option, or any other amendments to entitlements in relation to options held by optionees; (II) extend the term of any stock options held by optionees, beyond the original expiry date thereof; or (III) amend the Director Limitations; and |
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(iii) |
reduce the aggregate number of common shares issuable pursuant to options granted under the Option Plan from 10% to 7% of the issued and outstanding common shares at the time of the stock option grant; and |
