Company: FECOF
Filing Date: 2025-07-15
Form Type: 20-F
Source: 0001477932-25-005053
Chunk: 44

Company: FEC Resources Inc.
Filing Date: 2025-07-15
Form: 20-F
Item: Item 6
Chunk 44
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      $24,000       
  Daniel Carlos           $Nil                                       $0.00      $Nil          
  Mark Rilles             $Nil                                       $0.00      $Nil          
  Total                   $48,000                                    $0.00      $48,000       

(1). “ Option Exercise Net Market Value” is defined as the aggregate difference between the exercise price and the market value of the common stock on the date of exercise.”

Director Compensation for Fiscal Year ended December 31, 2023

  Directors/Officers      Salary       Option Exercise Net Market Value(1)      Total         
                                                                                              
                                                                                Compensation  
 ──────────────────────────────────────────────────────────────────────────────────────────────
  Claro Ramirez           $24,000                                    $0.00      $24,000       
  Paul Wallace            $24,000                                    $0.00      $24,000       
  Daniel Carlos           $Nil                                       $0.00      $Nil          
  Mark Rilles             $Nil                                       $0.00      $Nil          
  Total                   $48,000                                    $0.00      $48,000       

(1). “ Option Exercise Net Market Value” is defined as the aggregate difference between the exercise price and the market value of the common stock on the date of exercise.”

Our Board may award special remuneration to any Director undertaking any special services on our behalf other than services ordinarily required of a Director. Other than indicated above no Director received any additional compensation for his or her services including committee participation and/or special assignments.

Except for the stock option program discussed below, we have no bonus or profit sharing plans pursuant to which cash or non-cash compensation is or may be paid to our directors or Executive Officers.

Options to Purchase Our Securities.

Options to purchase securities from us are granted to directors, officers and employees on terms and conditions acceptable to the relevant regulatory authorities. We adopted a formal stock option plan on June 19, 2000. There were no stock options outstanding on December 31, 2024 and none were issued or exercised in 2024 or 2023.

C. Board Practices

We have an Audit Committee, a Compensation Committee, and a Corporate Governance Committee. No committee members receive additional compensation for serving on a committee and all committee members serve for a one year term. All board members are elected at our Annual General Meeting to serve for one year or until their successor is appointed.

Audit Committee. The Audit Committee oversees the retention, performance and compensation of our independent auditors,