Related Party Transactions
Compensation of Key Management Personnel
Key management personnel are those persons having authority and responsibility for planning, directing and controlling our activities as a whole. We have determined that key management personnel consists of the members of the Board of Directors along with certain officers of the Company.
|
| | | | | | |
| 2017
$ | 2016
$ | 2015
$ |
Short-term employee compensation and benefits | 2,596,082 |
| 2,753,553 |
| 2,941,342 |
|
Termination benefits | 779,666 |
| 1,330,828 |
| — |
|
Share-based payments | 459,298 |
| 372,008 |
| 353,419 |
|
| 3,835,046 |
| 4,456,389 |
| 3,294,761 |
|
Assumption Agreement
In November 2017, with the signing of a regional licensing agreement with upfront license fees (see Note 10), the Company triggered a liability of US$178,125 to an officer as detailed in the Assumption Agreement (see Note 12). As at December 31, 2017, US$178,125 was included in accounts payable and accrued liabilities. US$35,625 was paid in January 2018 and the balance will be paid after receipt of the contract receivable from Adlai.
