UPDATE 3-RIM executives to pay millions in options pact

"The sanctions send the right message that the conduct that we saw here will not be tolerated by anyone," OSC litigator Sasha Angus said of the pact, which will also see an independent consultant appointed to review RIM's governance practices.

Angus also said the commission -- Canada's main stock market regulator -- worked together with the U.S. Securities and Exchange Commission during its investigation of RIM.

RIM's shares rose 84 Canadian cents to close at C$69.94 on the Toronto Stock Exchange.

($1=$1.23 Canadian) (Reporting by Wojtek Dabrowski; Editing by Frank McGurty)