Company: TMCWW
Filing Date: 2025-04-18
Form Type: DEF 14A
Source: 0001104659-25-036264
Chunk: 64

Company: TMC the metals Co Inc.
Filing Date: 2025-04-18
Form: DEF 14A
Chunk 64
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. The consulting agreement provides, among other things, that Mr. Jurvetson will serve as a special advisor to our Chief Executive Officer for a term of five years. As the sole compensation for his advisory services, Mr. Jurvetson was granted a stock option to purchase 3,440,000 common shares, with an exercise price equal of $1.71 and expiry period of seven years. The stock options were issued under the TMC Incentive Equity Plan, and shall vest in three equal annual installments on the first, second and third anniversary of the date of grant of the options provided that Mr. Jurvetson is still providing services to us at such time. Pursuant to the terms of the consulting agreement, Mr. Jurvetson waived his right to any compensation he may have been entitled to for serving on the board of directors, including under our non-employee director compensation policy. Robertsbridge and Brendan May Consulting Agreements On March 7, 2023, we entered into a consulting agreement with Robertsbridge Consultants Ltd, a consulting firm founded by Mr. May of which he is a director, which is owned by Stonehaven, of which Mr. May is Deputy Chairman, under which Robertsbridge provides environmental consulting services to us. Consulting services during each of the years ended December 31, 2024 and December 31, 2023 totaled $122,050 and $304,065, respectively. In addition, on February 26, 2024, we entered into a consulting agreement with Mr. May for certain consulting services which terminated at the 2024 Annual Meeting. Under this consulting agreement, we paid consulting fees to Mr. May of $8,750 per month and granted Mr. May RSUs for 17,241 common shares that vested on March 1, 2025. Allseas On March 29, 2019, we entered into a strategic alliance with Allseas to develop a system to collect, lift and transport nodules from the seafloor to shore and agreed to enter into a nodule collection and shipping agreement whereby Allseas would provide commercial services for the collection of the first 200 million metric tonnes of polymetallic nodules on a cost plus 50% profit basis. In furtherance of this agreement, on July 8, 2019, we entered into a Pilot Mining Test Agreement with Allseas (“PMTA”), which was amended on five occasions through February 2023, to develop and deploy a PMTS,