Common use of Share Option Clause in Contracts

Share Option. (a) The Corporation hereby grants to the Optionee an irrevocable option (the “Option”) to purchase, on the terms hereinafter provided, all or any part of 100,000 common shares (such shares being hereinafter referred to as the “Optioned Shares”) in the capital of the Corporation at a price of $7.20 (Canadian) per share, being the closing price of a common share sold as part of a board lot of such shares on The Toronto Stock Exchange (the “Exchange”) on November 7, 1997. (b) The Option may be exercised (subject as hereinafter provided) during the ten year period ending on November 7, 2007 or the immediately preceding business day if November 7, 2007 is not business day (such date being hereinafter referred to as the “Expiration Date”). At the close of business in Toronto on the Expiration Date the Option shall expire and be of no further force whatsoever as to such of the Optioned Shares in respect of which the Option has not been fully exercised. (c) Subject to the terms of this Agreement, any Option may, until the Expiration Date, be exercised without limitation in respect of all or any portion of the shares to which it relates to the extent previously unexercised.

Share Option. (a) The Corporation hereby grants to the Optionee an irrevocable option (the “Option”) to purchase, on the terms hereinafter provided, all or any part of 100,000 655,000 common shares (such shares being hereinafter referred to as the “Optioned Shares”) in the capital of the Corporation at a price of $7.20 3.49 (Canadian) per share, being the closing weighted average trading price of a common share sold as part of a board lot of such shares on The Toronto Stock Exchange (the “Exchange”) on November 7for the five days preceding and the five days subsequent to March 3, 1997. (b) The Option may be exercised (subject as hereinafter provided) during the ten year period ending on November 7March 10, 2007 or the immediately preceding business day if November 7March 10, 2007 is not a business day (such date being hereinafter referred to as the “Expiration Date”). At the close of business in Toronto on the Expiration Date the Option shall expire and be of no further force whatsoever as to such of the Optioned Shares in respect of which the Option has not been fully exercised. (c) Subject to the terms of this Agreement, any Option may, until the Expiration Date, be exercised without limitation in respect of all or any portion of the shares to which it relates to the extent previously unexercised.