Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 400

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1C
Chunk 400
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authorizing such grant (except in lieu of accrued and unpaid compensation amounts).

In
addition, DSUP Members may elect to receive DSUs instead of cash remuneration in respect of his or her annual retainer, committee retainer
and meeting fees (or any portion thereof). The number of DSUs to be notionally credited to DSUP Members in lieu of cash remuneration
shall be determined on a quarterly basis, as of the final day of any quarterly period (the “Crediting Date”), calculated
as the quotient obtained when (i) the aggregate value of the cash remuneration that would have been paid to such DSUP Member, is divided
by (ii) the DSU Market Price as of the last day of such quarterly period.

Unless
otherwise specified by the Board and/or included in any award agreement, DSUs credited to a DSUP Member shall be fully vested on the
applicable Crediting Date.

Redemption

The
DSUs credited to the account of a director may only be redeemed following the date upon which the holder ceases to be a director. Depending
upon the country of residence of a director, the DSUs may be redeemed at any time prior to December 15 in the calendar year following
the year in which the holder ceases to be a director and may be redeemed in as many as four installments. Upon redemption, the holder
is entitled to a cash payment equal to the number of DSUs redeemed multiplied by the DSU Market Price on that date. The Company has the
right to elect to settle redemption payments in Common Shares in lieu of cash.

The
Company will deduct or withhold from any payment or settlement in Common Shares, for the benefit of a DSUP Member, any amount required
in order to comply with the applicable provisions of any federal or provincial law relating to the withholding of tax or the making of
any other source deductions.

No
Shareholder Rights

DSUs
are different from Common Shares and will not entitle a DSUP Member to any shareholder rights, including, without limitation, voting rights,
dividend entitlement or rights on liquidation.

-47-

Suspension,
Termination or Amendments

The
Board may amend, suspend or terminate (and re-instate) the DSU Plan in whole or in part, or amend the terms of DSUs credited in accordance
with the DSU Plan, without approval of the Company’s shareholders. However, such suspension, termination or amendment is subject to the receipt
of