Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 406

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1C
Chunk 406
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 without cause, in each case as
set out and defined in the employment agreement, (other than on account of Mr. Rawlins’ death or permanent disability) in either
case within twenty-four (24) months following a change of control of PREM, on such termination date, he shall be entitled to: (i) a lump
sum payment in lieu of notice equal to 1.75 times the sum of Mr. Rawlins’ base salary plus the average annual incentive compensation
paid to Mr. Rawlins calculated based upon the last three fiscal years ended immediately preceding the termination date; (ii) the continuation
of medical, dental and pension benefits for a twenty-four (24) month period; and (iii) any other payments owed to Mr. Rawlins. In addition,
any unvested securities convertible into or exchangeable for securities or shares of the Company or any affiliate or any other equity
linked entitlements related to the Common Shares shall be accelerated so that such rights become immediately exercisable for a period
of 180 days after such termination date. If Mr. Rawlin’s employment is terminated without cause, other than within two years following
a change of control, on such termination date, he shall be entitled to: (i) a lump sum payment in lieu of notice equal to 1.75 times
the sum of Mr. Rawlins’ base salary plus the average of the annual cash performance bonus paid to Mr. Rawlins in the last three
fiscal years immediately preceding the termination date; (ii) the continuation of medical, dental and pension benefits for a twenty-one
(21) month period; and (iii) any other payments owed to Mr. Rawlins.

The estimated payment under Mr. Rawlin’s employment
agreement resulting from a change of control is $1,449,032. The estimated payment under Mr. Rawlin’s employment agreement resulting from
a termination without cause is $743,750.

Boris
Kamstra

Boris Kamstra is the Chief Operating Officer of PRIL.
PRIL entered into a consulting agreement with ANZAC Consulting Ltd (“ANZAC”) dated January 1, 2023. Under the agreement,
ANZAC provides the services of Mr. Kamstra who is responsible for providing leadership for and input to the design, build, redevelopment
and commissioning of the Company’s projects in Botswana, delivering Stage 3 (Hot Commissioning) wherein the projects are producing