Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 352

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 352
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 it in writing to our Secretary at 325 Washington Avenue Extension, Albany, New
York 12205. The mailing envelope should include a clear notation that the enclosure is a “Director Nominee Recommendation.”
The recommending party should be identified as a stockholder and should provide a brief summary of the recommended candidate’s
qualifications, taking into account the desired characteristics and qualifications considered for potential Board members mentioned above.

Compensation
Committee

The
Board has adopted a Compensation Committee charter, which is published on our website at https://www. solunacomputing.com/investors/governance/.
The Compensation Committee consists of Messrs. Phelan (Chairman), Hazelip, and Bottomley. The Board has determined that each member of
the Compensation Committee is independent, as defined under the applicable rules and listing standards of Nasdaq and SEC rules and regulations.

The
role of the Compensation Committee is to assist the Board by:

1)
reviewing and approving compensation programs, philosophy, and practices of the Company for service providers of the Company, particularly
as it relates to its executive officers, key employees, and directors; 2) reviewing and evaluating annually the Company objectives and
goals regarding our Chief Executive Officer’s compensation and the approval or recommendation for approval to the Board of such
compensation; 3) evaluating director compensation and making recommendations to the Board regarding such compensation; 4) annually evaluating
the adequacy of the Compensation Committee charter and recommending any changes to the Board5) administering the Company’s equity
compensation plans; and 6) determining succession planning and management development for the Chief Executive Officer and other executive
officers and key employees.

In
fulfilling its responsibilities, the Compensation Committee may delegate any or all of its responsibilities to a subcommittee of the
Compensation Committee and, to the extent not expressly reserved to the Compensation Committee by the Board or by applicable law, rule,
or regulation, to any other committee of directors appointed by it.

The
Compensation Committee administers our executive compensation programs. This Compensation Committee is responsible for establishing the
policies that govern base salaries, as well as short- and long-term incentives, for executives and senior management. The Committee has
approval authority regarding the compensation of the Company’s Chief Executive Officer, as well as the Company’s other executive
officers and key employees.

68

Executive
Committee

The
Board formed an Executive Committee in January 2022 and adopted an Executive Committee charter, which is published on our website at