Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 149

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 6
Chunk 149
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 Company, and the Company may terminate Ms. Barnard at any time. Notwithstanding the foregoing, in the event of a termination by the Company without just cause, the Company has agreed to pay to Ms. Barnard as severance a lump sum payment in the amount equal to 12 months of her annual base salary in effect at the time of her termination. In the event of a termination by the Company within twelve months following a change in control, the Company has agreed to pay to Ms. Barnard as severance a lump sum payment in the amount equal to 24 months of her annual base salary in effect at the time of her termination.

On August 2024, the Company entered into a consulting agreement with Dong Shim to serve as CFO, which includes cash compensation as well as eligibility for equity compensation at the sole discretion of the Foremost Board. Additionally, the Company will reimburse Mr. Shim for reasonable expenses related to his duties. Either party may terminate the agreement for any reason with 60 days' prior written notice. If the Company terminates the agreement within twelve (12) months following a change in control, Mr. Shim will receive a severance payment equal to three (3) months of his consulting fee at that time. The Company has also agreed to indemnify Mr. Shim against certain liabilities and expenses arising from claims related to his position as an officer.

On June 01, 2025, the Company entered into an executive employment agreement with Cameron MacKay to serve as Vice President of Exploration, with his annual base salary initially set at CAD$ 165,000. Mr. MacKay is eligible for equity compensation at the sole discretion of the Foremost Board, subject to the terms of the Company's Omnibus Long Term Incentive Plan. The Company will reimburse Mr. MacKay for reasonable travel and business expenses incurred in his role. Mr. MacKay may terminate his agreement with six (6) weeks' notice, while the Company may terminate his agreement at any time and without cause. If terminated without just cause, he will receive a severance payment equal to six (6) months of the Executive's Annual Base Salary if the Termination Date occurs within the first twelve (12) months of employment, or twelve (12) months of the Executive's Annual Base Salary if the Termination Date occurs after the first twelve (12) months of employment. If terminated within twelve (12) months of a change of control, his severance will also be equivalent to twelve (12) months of his annual base