Argex Titanium Inc. ARGEF

RE:Compensation

[billr861]

The warrants we're being asked to approve of are Mazen's pay. He gets no cash, the warrants are his whole pay package. He got 20M  in 2016, then 10M for 2017, now he's asking for 25M for 2018. Considering that he's gotten nothing else, I think he's been very reasonable. Do you know of someone else with his credentials or better that will come to work and develop this company for no money at a time when we have precious little to pay in cash? He's in this for the value in the future...if he fails, his pay (warrants) are worthless and he will have worked since 2016 for nothing. So he's heavily invested in successfully building this company, or he gets nothing along with the rest of us who are shareholders. To me, he's earned these warrants, given the risks he's taken and the support group he's put together to make all this happen.....try to replace him.....I don't think it can be done.