Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 133

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 133
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 other senior officers of PREM and its affiliates, in connection with
(i) the capital markets strategy of PREM and the execution thereof, (ii) the other financing strategies and opportunities of PREM, (iii)
capital budgeting, and (iv) such other advice or services as PREM may reasonably request from time to time. The Company incurred $58,500
under this agreement in 2024, and all such amounts were paid to Mr. MacDonald and attributable to the services he provided to the Company.
In September 2024, this consulting agreement was mutually terminated.

Estimated
Incremental Payments

The
following shows the estimated incremental payments that would be payable to each of the executive officers of the Company in the event
of a change of control or termination without cause of such executive officers on December 31, 2024.

    Name 
    Estimated Change of Control
                                                                               Payment(1) ($)  
    Estimated Termination Without
                                                                               Cause
                                            Payment(2) ($) 
  
    Peter Rawlins, Senior Vice President and Chief Financial Officer 
     1,449,032  
     743,750 

Note:

(1)Represents
                                            the sum of (a) 1.75 times the sum of: (i) the executive’s base salary; and (ii) the
                                            value of the incentive options granted, and (b) 24 months of medical and dental benefits.

(2)Represents
                                            1.75 times the executive’s base salary and 21 months of medical and dental benefits.

Oversight
and Description of Director and Executive Officer Compensation

The
Company has a Human Resources and Compensation Committee (“HRCC”), currently comprised of
Paul Martin (Chair), Jason LeBlanc and Mark Christensen.

The
HRCC is responsible for overseeing the Company’s remuneration policies and practices and determining the compensation
of the executive officers and directors. The HRCC meets on an annual basis to determine such compensation on a discretionary basis and in accordance with
the Company’s executive compensation program.

The
Company’s executive compensation program has three principal components: base salaries, consulting fees and equity incentive plans,
including Options, DSUs and RSUs.

Base
Compensation

The
Company provides executive officers with base salaries or consulting fees, which represent their minimum compensation for services rendered,
or expected to be rendered. The executive officers’ base compensation depends on the scope of their experience, responsibilities,
leadership skills, performance, length