Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 536

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 9B
Chunk 536
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XV) on the date of the grant. In the event of the death or permanent disability of an optionee, any Option
granted to such optionee will be exercisable upon the earlier of 365 days from the date of death or permanent disability, or the expiry
date of the Option. In the event of the resignation of an optionee, or the termination or removal of an optionee without just cause,
any vested Option granted to such optionee will be exercisable for a period ending on the earlier of: (i) the expiry date of such Option
determined as at the date of grant thereof; and (ii) the expiration of 90 days (or such longer period, not to exceed 12 months, as may
be specified by resolution of the Board) following the effective date of such resignation or termination. In the event of termination
for cause, any unexercised Option granted to such optionee will be cancelled as at the date of termination.

Options
may be exercised by the holder thereof: (i) by delivering to PREM a notice specifying the number of Common Shares in respect of which the
Option is exercised together with payment in full of the exercise price for each such Common Share; (ii) through a cashless exercise mechanism
whereby the Company has certain arrangements with a brokerage firm; or (iii) through a net exercise mechanism whereby the optionee receives
only the number of Common Shares that is equal to the quotient obtained by dividing (A) the product of the number of Options being exercised
and the difference between the 5-day VWAP on the TSXV immediately preceding the exercise and the exercise price of the subject Option
by (B) the 5-day VWAP of the underlying Common Shares.

DSU
Plan

The
Company’s deferred share unit plan (“DSU Plan”) was adopted by the Board on December 26, 2022 and approved by
the Company’s shareholders on September 20, 2023. The DSU Plan enables the Company, upon approval by the Board, to grant deferred share units
to eligible non-management directors.

Purpose

The
purpose of the DSU Plan is to advance the interests of the Company and its subsidiaries by: (i) increasing the proprietary interests
of non-executive directors in the Company; (ii) aligning the interests of non-executive directors of the Company with the interests of
the Company’s shareholders generally; and (iii) furnishing non-executive directors with an