Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 546

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 9B
Chunk 546
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 each of the executive officers of the Company in the event
of a change of control or termination without cause of such executive officers on December 31, 2024.

    Name 
    Estimated Change of Control
                                                                               Payment(1) ($)  
    Estimated Termination Without
                                                                               Cause
                                            Payment(2) ($) 
  
    Peter Rawlins, Senior Vice President and Chief Financial Officer 
     1,449,032  
     743,750 

Note:

(1)Represents
                                            the sum of (a) 1.75 times the sum of: (i) the executive’s 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.

-52-

Incentive
Bonuses

Incentive
bonuses, in the form of cash payments or equity grants, are