Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 402

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1C
Chunk 402
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 the Company, and assist the Company in attracting
and retaining senior management personnel and other employees.

Eligibility

Any
director, officer, employee, consultant or management company employee, other than any investor relations service providers, of the Company
or any subsidiary of the Company, is eligible under the RSU Plan. The Board has sole discretion to determine who is eligible under the
RSU Plan and to whom RSUs may be granted, subject to the express provisions of the RSU Plan and the rules and policies of the TSXV.

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Share
Limits and Market Price

The
aggregate number of Common Shares made available for issuance from treasury under the RSU Plan shall not exceed 5,000,000 Common
Shares, provided that the number of Common Shares reserved for issuance from treasury under the RSU Plan and all other
security-based compensation arrangements of the Company and its subsidiaries shall not, in the aggregate, exceed 20% of the number
of Common Shares then issued and outstanding. As of December 31, 2024, 1,000,000 RSUs have been granted under the RSU
Plan.

Each
RSU will have a notional value equal, on any particular date, to the volume weighted average trading price of the Common Shares for the
five (5) consecutive trading days prior to such date (“RSU Market Price”).

Dividends

A
participant shall be credited on each dividend payment date (other than stock dividends payable in Common Shares), with additional RSUs.
The number of additional RSUs shall be determined by dividing: (a) the product obtained by multiplying (i) a dollar amount equal to such
dividend declared and paid by the Company on the Common Shares on a per share basis, by (ii) the number of RSUs held by the participant
on the record date for the payment of any such dividend; by (b) the RSU Market Price of Common Shares on such dividend payment date.

Granting
Restrictions

The
grant of RSUs under the RSU Plan is subject to a number of restrictions, including that:

(a)the
                                            aggregate number of Common Shares issuable at any time to Insiders (as defined in the RSU Plan)
                                            under the RSU Plan and all other security-based compensation arrangements of the Company
                                            and its subsidiaries shall not, in the aggregate, exceed 10% of the issued and outstanding
                                            Common Shares, calculated on a non-diluted basis (unless dis