Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 322

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 322
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 We may pay Paul Grinberg, our Chairman and Chief Executive Officer and Douglas
Horlick, our President Chief Financial Officer, an aggregate of up to $20,000 per month for their services as executive officers and
directors of the Company. Upon completion of our initial business combination or our liquidation, we will cease paying these monthly
fees, if any. Except for Mr. Grinberg and Mr. Horlick, none of our directors or officers have received any cash compensation
for services rendered to us. No cash finder’s fee, reimbursement, consulting fee or monies in respect of any payment of a loan,
will be paid by us to our sponsor, officers and directors, or any affiliate of theirs, for services rendered prior to, or for any services
rendered in order to effectuate, the consummation of our initial business combination (regardless of the type of transaction that it is).
However, these individuals will be entitled to certain payments including, but not limited to, reimbursement 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. Additionally, these individuals will be eligible to receive a transfer or reallocation of founder shares
for any extraordinary services rendered in order to identify or effectuate the consummation of our initial business combination. Our
audit committee will review on a quarterly basis all payments that were made to our sponsor, officers or directors, or our or their affiliates.
Any such payments prior to an initial business combination will be made using funds held outside the trust account. Other than quarterly
audit committee review of such payments, we do not expect to have any additional controls in place governing our reimbursement payments
to our directors and executive officers for their out-of-pocket expenses incurred in connection with identifying and consummating
an initial business combination.

After the completion of our
initial business combination, directors or members of our management team who remain with us may be paid consulting or management fees
from the combined company. All of these fees will be fully disclosed to shareholders, to the extent then known, in the tender offer materials
or proxy solicitation materials furnished to our shareholders in connection with a proposed initial business combination. We have not
established any limit on the amount of such fees that may be paid by the combined company to our directors or members of management.
It is unlikely the amount of such compensation will be known at the time of the proposed initial business combination