TSX.V: MXM | FRANKFURT: M5HA | OTCBB: MXMSF

Corporate Governance

Code of Conduct

Maxim is committed to high standards of legal and ethical business conduct and has a Code of Business Conduct and Ethics that summarizes the regulatory, legal, and ethical standards that Maxim, its Directors, Officers and Employees, apply in order to conduct the business of the Company.

Corporate Standards

Maxim is committed to complying with laws and governmental regulations applicable to its activities in its countries of operation, to maintaining a safe and healthy work environment and conducting its exploration and production operation’s in compliance with the respective country’s environmental laws.

Community Relations

Maxim intends to be a positive influence in the local communities where its mineral projects are located, by contributing to the welfare of such communities through donations of money and supplies, Maxim is committed to hiring local workers with appropriate qualifications to assist in ongoing exploration and production operations.

Audit Committee 

The Group has established an Audit Committee, which comprises Arthur Brown, Ian Baron and David Stadnyk, being non-executive members of the Board, with Arthur Brown appointed as chairman. The Audit Committee’s main functions include, inter alia, reviewing and monitoring internal financial control systems and risk management systems on which the Group is reliant, considering annual and interim accounts and audit reports, making recommendations to the Board in relation to the appointment and remuneration of the Group’s auditors and monitoring and reviewing annually their independence, objectivity, effectiveness and qualifications.

Remuneration Committee

The Group has established a Remuneration Committee, which comprises Ian Baron, Andrew Male and Arthur Brown, is chaired by Ian Baron, and meets as often as required to enable the Remuneration Committee to fulfil its obligations to the Group. The Remuneration Committee will be responsible for reviewing the performance of the Chairman and the executive directors and for setting the scale and structure of their remuneration, paying due regard to the interests of Shareholders as a whole and the performance of the Group. The Remuneration Committee will also approve the design of and determine targets for any performance-related pay schemes operated by the Group.

Nominations Committee

The Group has established a Nominations Committee which comprises Authur Brown, Cyrus Driver and David Stadnyk is chaired by Auther Brown, and meets when required. The Nominations Committee will consider the selection and re-appointment of Board members. It will identify and nominate candidates to fill Board vacancies and review regularly the structure, size and composition (including the skills, knowledge and experience) of the Board and make recommendations to the Board with regard to any changes.