60. Bordynuik agrees to the following terms of settlement, to be set out in an order by the Commission pursuant to section 127(1) of the Act:
a) pursuant to paragraph 7 of subsection 127(1) of the Act, Bordynuik shall forthwith resign any positions that he holds as an officer and/or director of any reporting issuer, as defined in the Act;
b) pursuant to paragraph 8 of subsection 127(1) of the Act, Bordynuik is prohibited from becoming or acting as an officer and/or director of any reporting issuer, as defined in the Act, for 5 years, effective from the date of the order of the Commission approving the Settlement Agreement;
c) prior to becoming or acting as an officer and/or director of any reporting issuer, as defined in the Act, Bordynuik will successfully complete the Partners, Directors and Senior Officers Course administered by the Canadian Securities Institute and report his completion thereof to the Commission;
d) pursuant to paragraph 9 of subsection 127(1) of the Act, Bordynuik shall pay an administrative penalty in the amount of $125,000 to be designated for allocation or for use by the Commission pursuant to subsection 3.4 (2)(b) of the Act;
e) Bordynuik shall contribute $45,000 towards Staff’s investigation costs in this matter; and
f) pursuant to paragraph 6 of subsection 127(1) of the Act Bordynuik shall be reprimanded by the Commission.
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