7 7 9 Discussion of Incentive Plan Awards The significant terms of all plan-based awards, including non-equity incentive plan awards, issued or vested, or under which opti ons have been exercised, during the year, or outstanding at year end, are set out ab ove in “Compensation Discussion & Analysis” and below under “Other Information – 2018 Share Compensation Plan Summary”. No stock options held by Named Executive Officers were exercised during the financial year ended December 31, 2021. For 2022, incentive compensation is expected to consist of an award of a cash bonus, time-based RSUs and performance-based RSUs which in the aggregate will be targeted at 400% of base salary for the President & Ch ief Executive Officer, 250% of base salary for the Chief Financial Officer and Chief Legal Officer and 200% for the Senior Vice President, Business Development and Senior Vi ce President, Diversified. For illustrative purposes, if all pre-set corporate and personal objectives for 2022 are met, in 2022 cash bonuses, time-based RSUs and performance-ba sed RSUs are targeted to be awarded as follows: Illustrative Incentive Compensation (in C$) Name Base Target Target Target Salary 2022 2022 2022 Cash Time-based Performance-based Bonus RSUs RSUs Paul Brink $900,000 $900,000 $900,000 $1,800,000 Sandip Rana $639,600 $319,800 $575,640 $703,560 Lloyd Hong $582,400 $291,200 $524,160 $640,640 Eaun Gray $410,000 $205,000 $205,000 $410,000 Jason O'Connell $400,000 $200,000 $200,000 $400,000 Termination and Change of Control Benefits Each of Messrs. Brink, Rana, Hong, Gray and O’Connell has entered into an employment agreement with the Corporation that provides for payments at, following, or in connection with, a termination (whether voluntary, involuntary or constructive), resignation, retirement, a change of control of the Corporat ion or a change in such executive officers’ responsibilities. Termination Benefits If any of Messrs. Brink, Rana, Hong, Gray an d O’Connell is terminated without just cause or resigns for “good reason” as defined in the applicable employment agreement (see below), such executive officer will be entitled to a lump-sum severance payment equal to the sum of 24 months’ base salary (determined as at the time of termination or resignation, as applicable). The individual will also be entitled to continue participating in the Corporation’s benefit plans for the same 24-month period. If the Corporation is unable to continue the individual’s participation in one or more of its benefit plans, the