Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 1184

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 10
Chunk 1184
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 and Chief Executive Officer and the President and Chief Financial Officer, a total of up to $20,000 per month
for their services as executive officers and directors of the Company. No expenses have been incurred or are due under this arrangement
as of December 31, 2024. Our executive officers and directors, or any of their respective affiliates, will be reimbursed for any out-of-pocket
expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence
on suitable business combinations. Our audit committee will review on a quarterly basis all payments that were made to our sponsor, officers,
directors or their affiliates.

70

After
the completion of our initial business combination, directors or members of our management team who remain with us may be paid
consulting, management or other fees from the combined company. All of these fees will be fully disclosed to stockholders, to the
extent then known, in the tender offer materials or proxy solicitation materials furnished to our stockholders in connection with a
proposed business combination. It is unlikely the amount of such compensation will be known at the time, because the directors of
the post-combination business will be responsible for determining executive officer and director compensation. Any compensation to
be paid to our executive officers will be determined by a compensation committee constituted solely by independent directors.

We
do not intend to take any action to ensure that members of our management team maintain their positions with us after the consummation
of our initial business combination, although it is possible that some or all of our executive officers and directors may negotiate employment
or consulting arrangements to remain with us after the initial business combination. The existence or terms of any such employment or
consulting arrangements to retain their positions with us may influence our management’s motivation in identifying or selecting
a target business but we do not believe that the ability of our management to remain with us after the consummation of our initial business
combination will be a determining factor in our decision to proceed with any potential business combination. We are not party to any agreements
with our executive officers and directors that provide for benefits upon termination of employment.

Compensation Committee Interlocks and Insider
Participation

None
of our executive officers currently serves, and in the past year has not served, as a member of the board of directors or compensation
committee of any entity that has one or more executive officers serving on our board of directors.

Item 12. Security Ownership of Certain
Beneficial Owners and Management and Related