Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 129

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 129
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 of the issued and outstanding Common Shares, calculated on
a non-diluted basis.

Administration
of Grants

The
Board may, at any time other than from December 5 to December 31 in any year, grant RSUs to eligible participants in consideration of
service for any period specified in the resolution authorizing such grant (except in lieu of accrued and unpaid compensation amounts).

-49-

Unless
otherwise specified by the Board and/or included in any award agreement, RSUs granted to a participant shall vest (a) as to one-third
on the first anniversary of the date that such RSU was granted (the “RSU Grant Date”), (b) as to one-third on the
second anniversary of the RSU Grant Date, and (c) as to the remaining one-third on the earlier of the third anniversary of the RSU Grant
Date and the business day immediately preceding the expiry date of the granted RSUs.

The
Board may specify any additional conditions to the vesting of the RSUs, as set out in the relevant award agreement.

Redemption

Depending
upon the country of residence of the participant, the holder may be entitled to redeem RSUs on the earlier of either twenty-five
days following the Vesting Date (as defined in the RSU Plan), or a date agreed on by the Company and the holder. Upon redemption,
the holder is entitled to either a cash payment equal to the RSU Market Price on the Vesting Date, or one Share, at the
Company’s discretion.

The
Company will deduct or withhold from any payment or settlement in Common Shares, for the benefit of the participant, any amount
required in order to comply with the applicable provisions of any federal or provincial law relating to the withholding of tax or
the making of any other source deductions.

No
Shareholder Rights

RSUs
are different from Common Shares and will not entitle any shareholder rights, including, without limitation, voting rights, dividend
entitlement or rights on liquidation.

Suspension,
Termination or Amendments

The
Board may amend, suspend or terminate the RSU Plan in whole or in part, or amend the terms of RSUs credited in accordance with the
RSU Plan, without approval of the Company’s shareholders. However, such suspension, termination or amendment is subject to the
receipt of all required regulatory approvals including, without limitation, the approval of the TSXV.

If
any such amendment, suspension or termination will materially or adversely affect the rights of a participant