Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 403

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1C
Chunk 403
---
interested shareholder approval is obtained
                                            pursuant to the rules and policies of the TSXV);

(b)within
                                            any one-year period, the Company shall not issue to Insiders under the RSU Plan and all other
                                            security-based compensation arrangements of the Company and its subsidiaries, in the aggregate,
                                            a number of Common Shares exceeding 10% of the issued and outstanding Common Shares, calculated on
                                            a non-diluted basis (unless disinterested shareholder approval is obtained pursuant to the
                                            rules and policies of the TSXV);

(c)within
                                            any one-year period, the Company shall not issue to any one consultant under the RSU Plan
                                            and all other security-based compensation arrangements of the Company and its subsidiaries,
                                            in the aggregate, a number of Common Shares exceeding 2% of the issued and outstanding Common
                                            Shares, calculated on a non-diluted basis; and

(d)within any one-year period, the Company shall not issue to any one person,
or companies wholly-owned by that person, under the RSU Plan and all other security-based compensation arrangements of the Company and
its subsidiaries, in the aggregate, a number of Common Shares exceeding 5% of the issued and outstanding Common Shares, calculated on
a non-diluted basis.

Administration
of Grants

The
Board may, at any time other than from December 5 to December 31 in any year, grant RSUs to eligible participants in consideration of
service for any period specified in the resolution authorizing such grant (except in lieu of accrued and unpaid compensation amounts).

-49-

Unless
otherwise specified by the Board and/or included in any award agreement, RSUs granted to a participant shall vest (a) as to one-third
on the first anniversary of the date that such RSU was granted (the “RSU Grant Date”), (b) as to one-third on the
second anniversary of the RSU Grant Date, and (c) as to the remaining one-third on the earlier of the third anniversary of the RSU Grant
Date and the business day immediately preceding the expiry date of the granted RSUs.

The
Board may specify any additional conditions to the vesting of the RSUs, as set out in the relevant award agreement.

Redemption

Depending
upon the country of residence of the participant, the holder may be entitled to redeem RSUs on the earlier of either twenty-five
days following the Vesting Date (as defined in the RSU Plan), or a date