Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 185

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 6
Chunk 185
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2026      

Our compensation policies are based on the principles
that compensation should, to a significant extent, be reflective of the financial performance of our executive officers and directors,
and that a significant portion of executive officers’ and directors’ compensation should provide long-term incentives. The
Board and Compensation Committee of the Board, or the Compensation Committee, seeks to have compensation of our directors and executive
officers set at levels that are sufficiently competitive so that we may attract, retain and motivate highly qualified directors and executive
officers to contribute to our success. In assessing the overall compensation for directors and executive officers, the Board and Compensation
Committee considers the Company’s performance, relative stockholder return and industry position, general industry data, and awards
given to our executive officers in past years. It is our general compensation philosophy to provide a blend of base salaries/consulting
fees, incentive bonuses and equity-based compensation.

Elements of Compensation

Base Salary/Consulting Fees

Each executive officers receives a fee, which constitutes
a significant portion of the executive officer’s compensation package. Consulting fees are paid for discharging day-to-day duties
and responsibilities and reflects the executive officer’s performance over time, as well as that individual’s particular experience
and qualifications. An executive officer’s fee is reviewed by the Compensation Committee from time to time.

Incentive Bonus

Incentive bonuses, in the form of cash payments,
are designed to add a variable component of compensation based on corporate and individual performances for each officer and employee.
Both individual and corporate performances are also taken into account. No bonuses were paid to our executive officers during the most
recently completed financial year.

Equity-Based Compensation

Our directors, officers, employees and consultants
are eligible under our Omnibus Plan to receive grants of stock options. The Omnibus Plan is an important part of our long-term incentive
strategy for its officers and directors, permitting them to participate in appreciation of the market value of the Common Shares over
a stated period of time. The Omnibus Plan is intended to reinforce commitment to long-term growth in profitability and shareholder value.

The Board believes that the Omnibus Plan aligns
the interests of our executive officers and the Board with shareholders by linking a component of executive compensation to the longer
term performance of the Common Shares.

Compensation Risk

The Board has not formally considered the implications
of risks associated with our compensation policies and practices as, in their view, the current structure of our executive compensation
arrangements is focused on long-term value and