Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 808

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 808
---
 of Directors has not established a nominating committee. The Board has
been of the opinion that such committees are not necessary since the Company is small, and to date, the entire Board of Directors has
been performing the functions of such committees. Thus, there is a potential conflict of interest in that our directors and officers
have the authority to determine issues concerning management compensation and nominations that may affect management decisions.

We
do not have a policy regarding the consideration of any director candidates that may be recommended by our stockholders. Our Board has
not considered or adopted a policy regarding the consideration of director candidates recommended by our stockholders, as we have not
received a recommendation from any stockholder for any candidate to serve on our Board for over ten years. We do not know if any of our
stockholders will make a recommendation for any candidate to serve on our Board, given the relatively small size of our company and the
small remuneration for attendance at the Board meetings.

The
Board is responsible for establishing broad corporate policies and reviewing our overall performance rather than day-to-day operations.
The primary responsibility of the Board is to oversee the management of the Company and, in doing so, serve the best interests of the
Company and its stockholders. The Board selects, evaluates, and provides for the succession of executive officers and, subject to stockholder
election, directors. It reviews and approves major corporate strategy changes, evaluates significant policies, and proposes major commitments
of corporate resources. The Board also participates in decisions that have a potential major economic impact on the Company. Management
keeps the directors informed of Company activity through regular communication.

Director
compensation for attendance at each regular or special meeting of the Board, if any, is set by Board resolution. Officers of the Company
are appointed by the Board. The salaries of the officers shall be fixed from time to time by the Board.

Shareholders
may contact the Chairman of the Board by telephone or email at the Company’s corporate offices with any questions or concerns they
wish to have addressed. The Chairman will discuss any material shareholder questions, concerns, or other information with the other directors,
as necessary.

34

Board
Leadership and Role in Risk Oversight

Chet
Billingsley acts as Mentor’s Chief Executive Officer and Chairman of the Board. Robert Meyer acted as the Company’s
Secretary and lead independent director through late December 2024. Mentor has determined that its leadership structure is
appropriate as Mentor is a small company, and Mr. Billingsley is