Company: FECOF
Filing Date: 2025-07-15
Form Type: 20-F
Source: 0001477932-25-005053
Chunk: 43

Company: FEC Resources Inc.
Filing Date: 2025-07-15
Form: 20-F
Item: Item 6
Chunk 43
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 cause any license, permit or other authority of such person or of any corporation of which he or she is a director and/or executive officer, to engage in the securities business or in the sale of a particular security or temporarily or permanently restraining or enjoining any such person or any corporation of which he or she is an officer or director from engaging in or continuing any conduct, practice, or employment in connection with the purchase or sale of securities, or convicting such person of any felony or misdemeanor involving a security, or any aspect of the securities business, or of theft, or of any felony.

There are no arrangements or understandings between any two (2) or more directors or executive officers, pursuant to which he or she was selected as a Director or Executive Officer. There are no family relationships between any two (2) or more of our directors or executive officers.

B. Compensation.

We have recently agreed to pay our directors the following consulting fees or directors’ fees on a monthly basis:

  Paul Wallace       $2,000  
  Claro Ramirez      $2,000  

None of our executive officers or directors received other compensation in excess of the lesser of $25,000 or 10% of such Executive Officer’s or Director’s cash compensation as reported in the compensation table below and all Executive Officers and directors as a group did not receive other compensation which exceeded $25,000 times the number of persons in the group or 10% of the compensation reported in the compensation table below.

No funds were set aside or accrued by us during the year ending December 31, 2024 to provide pension, retirement or similar benefits for our directors or Executive Officers. Except for the stock option program discussed below, we have no bonus or profit sharing plans pursuant to which cash or non-cash compensation is or may be paid to our directors or Executive Officers.

The following tables detail the compensation paid during fiscal year ended December 31, 2024 and 2023 to our directors and members of our administrative, supervisory or management bodies:

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Director/Executive Officer Compensation

Director Compensation for Fiscal Year ended December 31, 2024

  Directors/Officers      Salary       Option Exercise Net Market Value(1)      Total         
                                                                                              
                                                                                Compensation  
 ──────────────────────────────────────────────────────────────────────────────────────────────
  Claro Ramirez           $24,000                                    $0.00      $24,000       
  Paul Wallace            $24,000                                    $0.00