Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 408

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1C
Chunk 408
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 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 of service, general industry trends and practices, competitiveness and the Company’s existing
financial resources.

The
amount of base compensation is determined through negotiation of employment terms with each executive officer and is determined on an
individual basis. While base compensation is intended to fit into the Company’s overall compensation objectives by serving to attract
and retain talented executive officers, the size of the Company and the nature and stage of its business also impacts the level of base
compensation. Compensation is set with informal reference to the market for similar jobs in Canada and internationally.

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Incentive
Bonuses

Incentive
bonuses, in the form of cash payments or equity grants, are designed to add a variable component of compensation based on corporate and
individual performance for executive officers and employees. As the Company grows and develops its projects, it is expected that an annual
incentive award program will be formalized that will clearly articulate performance objectives and specific measurable goals that will
be linked to individual performance criteria set for the executive officers. No bonuses were paid to executive officers or employees
during the Company’s financial year ended December 31, 2024.

Option-Based
and Other Equity-Based Awards

Options
are granted pursuant to the Option Plan to provide an incentive to the directors, officers, employees and consultants of