Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 580

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 3
Chunk 580
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 bank holding company that was acquired
by Deutsche Bank AG in 1999. Mr. Vieser holds a Bachelor’s degree in Economics from the University of Michigan and a Master’s
in Business Administration from the Cox School of Business at Southern Methodist University.

Number and Terms of Office of Officers and Directors

Our board of directors consists
of five members. Our board of directors is divided into three classes, with only one class of directors being elected in each year, and
with each class (except for those directors appointed prior to our first annual meeting of stockholders) serving a three-year term. The
term of office of the first class of directors, consisting of Jeffrey J. Lager and Michael Marquez, will expire at our first annual meeting
of stockholders. The term of office of the second class of directors, consisting of Jaime W. Vieser and Douglas Horlick, will expire at
our second annual meeting of stockholders. The term of office of the third class of directors, consisting of Paul Grinberg, will expire
at our third annual meeting of stockholders.

Approval of our initial business combination will
require the affirmative vote of a majority of our board directors, which must include a majority of our independent directors. Subject
to any other special rights applicable to the shareholders, prior to our initial business combination, any vacancies on our board of directors
may be filled by the affirmative vote of a majority of the directors present and voting at the meeting of our board of directors. Our
officers are appointed by the board of directors and serve at the discretion of the board of directors, rather than for specific terms
of office. Our board of directors is authorized to appoint persons to the offices set forth in our amended and restated memorandum and
articles of association as it deems appropriate. Our amended and restated memorandum and articles of association provides that our officers
may consist of a Chairman of the Board, a Chief Executive Officer, a President, a Chief Operating Officer, a Chief Financial Officer,
Vice Presidents, a Secretary, Assistant Secretaries, a Treasurer and such other offices as may be determined by the board of directors.

63

Director Independence

The Nasdaq listing rules require that a majority
of our board of directors be independent within one year of our initial public offering. An “independent director” is defined
generally as a person that, in the opinion of the company’s board of directors, has no material relationship with the listed company
(either directly or as a partner,