Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 278

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 7A
Chunk 278
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 ROO Group, Inc in 2004. In more recent years, Mr. Herzog also served as
a strategic advisor to investment group Morzev in the formation of USA Rare Earth (Nasdaq: USAR). Mr. Herzog was a Fellow of the Australian
Institute of Company Directors from 1993 to 2011. Mr. Herzog holds a Bachelors Degree in Economics from Monash University in Melbourne,
Australia.

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Shmuel “Samuel”
Naparstek -  In July, 2024, the Board appointed Shmuel “Samuel”  J.  Naparstek to serve on the Board
filling a vacancy after Tom Lapinski’s retirement. Mr. Naparstek has built a global network of investors, innovators and philanthropists,
and has served as a Corporate Consultant to Okmin Resources since January 2021. Since 2002, Mr. Naparstek has been engaged in various
consulting roles with private and public companies. Mr. Naparstek has been a board member of Perfectomundo Inc. since September 2018,
and has been instrumental in building and growing a variety of their new tequila brands in the marketplace. Prior to 2002, Mr. Naparstek
was a principal executive of a network of non-profit organizations focused on religious, educational and social service activities.
He continues to be actively sought out as an advisor to organizations and charitable foundations on the West Coast.

Directors hold office until
the next annual meeting, or by written consent, of the Company’s shareholders, and the election and qualification of their successors.
Officers hold office at the pleasure of the Company’s Board of Directors, and are subject to removal at any time by the Board.

Board Leadership Structure and Role in Risk Oversight

Our Board of Directors (“Board”) is primarily
responsible for overseeing our risk management processes on behalf of the Company. The Board receives and reviews periodic reports from
management, auditors, legal counsel, and others, as considered appropriate regarding our company’s assessment of risks. In addition,
the Board focuses on the most significant risks facing our company and our company’s general risk management strategy, and also
ensures that risks undertaken by our company are consistent with the board’s appetite for risk. While the Board oversees our company’s
risk management, management is responsible for day-to-day risk management processes. We believe this division of responsibilities is