Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Related Party Transactions

v3.8.0.1
Related Party Transactions
12 Months Ended
Dec. 31, 2017
Disclosure of related party [Abstract]  
Related Party Transactions
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.