Company: EQS
Filing Date: 2025-05-12
Form Type: DEF 14A
Source: 0001712543-25-000028
Chunk: 21

Company: EQUUS TOTAL RETURN, INC.
Filing Date: 2025-05-12
Form: DEF 14A
Chunk 21
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actices and policies. The charter of the Compensation Committee is available on the Company’s website (www.equuscap.com).

Each member of the Compensation Committee is an independent
director within the meaning of SEC regulations and the listing standards of the NYSE. This Committee did not meet in 2024.

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Governance and Nominating Committee

The Governance and Nominating Committee is responsible
for developing and implementing policies and practices relating to corporate governance. The Committee selects individuals for nomination
to the Company’s Board. In addition, the Governance and Nominating Committee develops and reviews background information on candidates
for the Board and makes recommendations to the Board regarding such candidates. The Committee also prepares and supervises the Board’s
annual review of director independence and the Board’s performance self-evaluation. The charter of the Governance and Nominating
Committee is available on the Company’s website (www.equuscap.com).

All of the members of the Governance and Nominating
Committee are independent directors within the meaning of SEC regulations and the listing standards of the NYSE. This Committee met three
times during 2024.

How does the Board select nominees for the Board?

The Governance and Nominating Committee considers
candidates for Board membership suggested by its members and other Board members, as well as management and stockholders. A stockholder
who wishes to recommend a prospective nominee for the Board should notify the Company’s Secretary or any member of the Governance
and Nominating Committee in writing in care of Equus Total Return, Inc., 700 Louisiana Street, 41 Floor, Houston, TX 77002.
To be considered by the Governance and Nominating Committee, stockholder nominations must be submitted before our fiscal year-end and
must be accompanied by a description of the qualifications of the proposed candidate and a written statement from the proposed candidate
that he or she is willing to be nominated and desires to serve if elected. The Governance and Nominating Committee will also consider
whether to nominate any person nominated by a stockholder pursuant to the provisions of the Company’s by-laws relating to stockholder
nominations as described in “Additional Information—Stockholder Proposals for the 2026 Annual Meeting,” below.
Nominees for director who are recommended by stockholders will be evaluated in the same manner as any other nominee for director.

Once the Governance and Nominating Committee has identified
a prospective nominee, the Committee makes an initial determination as to whether to conduct a full evaluation of the