Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 134

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 134
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 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 the Company
to achieve the longer-term objectives of the Company, to give suitable recognition to the ability and industry of such persons who contribute
materially to the success of the Company and to attract and retain persons of experience and ability, by providing them with the opportunity
to acquire an increased proprietary interest in the Company.

DSUs
are granted pursuant to the DSU Plan to directors of the Company to advance the interests of the Company and its subsidiaries by: (i)
increasing the proprietary interests of non-executive directors in the Company; (ii) aligning the interests of non-executive directors
of the Company with the interests of the Company’s shareholders generally; and (iii) furnishing non-executive directors with an additional
incentive in their efforts on behalf of the Company.

RSUs
are granted pursuant to the RSU Plan to employees of the Company to provide long-term incentive compensation to employees of the Company
or its subsidiaries, provide additional incentive for their continued efforts in promoting the growth and success of the business of
the Company, and assisting the Company in attracting and retaining senior management personnel and other employees.

The
Company awards Options, DSUs and RSUs based upon the recommendation of the