Company: CMND
Filing Date: 2025-09-15
Form Type: POS AM
Source: 0001213900-25-087398
Chunk: 31

Company: Clearmind Medicine Inc.
Filing Date: 2025-09-15
Form: POS AM
Chunk 31
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 and (ii) in a criminal action or proceeding, the individual had no reasonable                      
 cause to believe his or her conduct was unlawful.                                                                                     
 Without court approval, however, no indemnification may be made                                                                       
 in respect of any derivative action in which an individual is adjudged liable to the corporation, except to the extent the Court      
 of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication     
 but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity.                         
 The DGCL requires indemnification of directors and officers for                                                                       
 expenses (including attorneys’ fees) actually and reasonably relating to a successful defense on the merits or otherwise of           
 a derivative or third-party action.                                                                                                   
 Under the DGCL, a corporation may advance expenses relating to                                                                        
 the defense of any proceeding to directors and officers upon the receipt of an undertaking by or on behalf of the individual to repay 
 such amount if it shall ultimately be determined that such person is not entitled to be indemnified.                                  |     | Under the BCBCA, a company may indemnify:                                                                                              
 (i) a current or former director or officer of that company; (ii) a current or former director or officer of another corporation       
 if, at the time such individual held such office, the corporation was an affiliate of the company, or if such individual held such     
 office at our request; or (iii) an indemnifiable person (as defined in the “Description of Share Capital” section above)               
 against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred       
 by him or her in respect of any civil, criminal, administrative or other legal proceeding or investigative action (whether current,    
 threatened, pending or completed) in which he or she is involved because of that person’s position as an indemnifiable person,         
 unless: (i) the individual did not act honestly and in good faith with a view to the best interests of such company or the other       
 entity, as the case may be; or (ii) in the case of a proceeding other than a civil proceeding, the individual did not have reasonable  
 grounds for believing that the individual’s conduct was lawful. A company cannot indemnify an indemnifiable person if it is            
 prohibited from doing so under its articles. In addition, a company must not indemnify an indemnifiable person in proceedings brought  
 against the indemnifiable person by or