Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 597

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 597
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400,000 of accrued and unpaid vacation pay. Additionally, Mr. Billingsley was paid (i) $82,377 in officer relocation
expenses accrued since 2020 and (ii) $110,731 gross, before payroll taxes, in officer auto benefits. With the exception of severance,
vacation, and sick pay that continues to routinely accrue, all deferred and accrued amounts were paid in full to Mr. Billingsley in 2023.
Mr. Billingsley’s benefit package was approved by the court in the 1998 Chapter 11 bankruptcy order, as approved by the Company’s
shareholders, to incentivize Mr. Billingsley to remain with the Company.

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(2)
In 2024, Mr. Billingsley received $15,000 in compensation for his service as a member of Mentor’s Board of Directors. Mr. Billingsley
was paid $2,500 per meeting for his attendance at the four regular quarterly Board meetings and $2,500 for his attendance at one special
Board and Audit Committee meeting. He was paid $1,250 per consent for two unanimous written consents.

In
2023, Mr. Billingsley received $8,625 in compensation for his service as a member of Mentor’s Board of Directors. Mr. Billingsley
was paid $1,000 for his attendance at three regular quarterly Board meetings. On October 14, 2023, regular board meeting fees were increased
to $2,500, and minor action fees were increased to $1,250. Mr. Billingsley was paid $2,500 for his attendance at one regular quarterly
Board meeting and one special meeting. He was paid $125 for his attendance at the Company’s annual Audit Committee meeting held
in 2023, paid $250 for one unanimous written consent, and paid $250 for his certification regarding our discontinued operation in 2023.
Mr. Billingsley received $46,565 interest for deferred and unpaid relocation expenses and $137,365 in previously accrued unpaid medical
expenses. Because relocation expenses are now paid in full, no interest will accrue in future periods.

(3)
In 2024, our accrual for estimated retirement and other benefits to Mr. Billingsley increased by $40,066. This consisted of $5,600 accrued
sick pay, $17,138 accrued vacation pay, and $17,328 accrued officer severance pay.

In
2023, our