Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 126

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 126
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 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 all required regulatory approvals including, without limitation, the approval of the TSXV.

If
any such amendment, suspension or termination will materially or adversely affect the rights of a DSUP Member with respect to DSUs credited
to such director, then the written consent of the DSUP Member will be obtained. However, a DSUP Member’s written consent will not
be required if such amendment, suspension or termination is required in order to comply with applicable laws, regulations, rules, orders
of government or regulatory authorities or the requirements of any stock exchange on which shares of the Company are listed.

In
addition, the Company may not make the following amendments to the DSU Plan without the approval of the Company’s shareholders: (i) an amendment
to remove or exceed the insider participation limit prescribed by the Corporate Finance Manual of the TSXV; (ii) an amendment to
increase the maximum number of Common Shares made available for issuance from treasury under the DSU Plan; (iii) an amendment to modify
the definition of “Eligible Director” in the DSU Plan; or (iv) an amendment to the amending provision within the DSU
Plan.

If
the Board (or