Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 196

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 6
Chunk 196
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 that, if it is ultimately determined that the payment
of expenses was prohibited, the indemnifiable person will repay any amounts advanced. Subject to the aforementioned prohibitions on indemnification,
a company must, after the final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by an indemnifiable
person in respect of such eligible proceeding if such indemnifiable person has not been reimbursed for such expenses, and was wholly
successful, on the merits or otherwise, in the outcome of such eligible proceeding or was substantially successful on the merits in the
outcome of such eligible proceeding. On application from an indemnifiable person, a court may make any order the court considers appropriate
in respect of an eligible proceeding, including the indemnification of penalties imposed or expenses incurred in any such proceedings
and the enforcement of an indemnification agreement.

We maintain insurance policies relating to certain
liabilities that our directors and officers may incur in such capacity.

D. Employees.

See “ Item 4. B. Business Overview - Employees.”

E. Share Ownership.

See “ Item 7. A. Major Shareholders”
below.

Omnibus Equity Incentive Plan

Our Omnibus Equity Incentive Plan, or the Omnibus
Plan, was previously approved by the shareholders at our annual and special meeting on November 14, 2023. Pursuant to the Omnibus Plan,
we are authorized to grant options or restricted share units (“ RSUs” and together with “ Options”,
“ Awards” or “ Stock Awards”) to officers, directors, employees and consultants enabling them to
acquire up to 20% of our issued and outstanding Common Shares (including Stock Awards under previous plans). The Awards can be granted
for a maximum of 10 years and vest as determined by the Board. The Omnibus Plan replaces our Company’s previous plan. All Stock
Awards will be issued under the Omnibus Plan.

Summary of the Omnibus Plan

Pursuant to the Omnibus Plan, the Board may grant
Awards to eligible persons as determined by the Omnibus Plan. The aggregate number of Common Shares which may be made available for issuance
under the Omnibus Plan will not exceed with respect to the number of Common Shares issuable pursuant to all Awards, 20% of the total
number of issued and outstanding Common Shares from time to time.

The purpose of the Omnibus Plan is to advance the
interests of the Company and its subsidiaries by (i) promoting a significant alignment between directors, officers, employees and