(the “Plan”) in place under which it is authorized to grant options to executive officers, directors, employees and consultants, enabling them to acquire up to
10%
of the issued and outstanding common shares of the Company. Under the plan, the exercise price of each option equals the approximate market price of the Company's stock as calculated on the date of grant. The options can be granted for a maximum term of
five
years, and periods of vesting are determined by the Board of Directors.
