Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 186

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 6
Chunk 186
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 is designed to correlate to the long-term performance of the Company, which includes but
is not limited to performance of its share price.

Financial Instruments

Except as may be prohibited by law, our executive
officers and directors are not currently prohibited from purchasing financial instruments, such as prepaid variable forward contracts,
equity swaps, collars or units of exchange funds, that are designed to hedge or offset a decrease in market value of equity securities
granted as compensation or held, directly or indirectly, by an executive officer or director. To our knowledge, none of our executive
officers or directors have entered into or purchased such a financial instrument. Our Insider Trading Policy stipulates that our insiders
are prohibited from short-selling our securities for the purpose of realizing the short-term profits.

Share-based and option-based Awards

As discussed above, the Option Plan is maintained
for our directors, officers, consultants and employees and any of our present and future subsidiaries. The CEO will make initial recommendations
to the Compensation Committee on the setting of option grants, taking into account the seniority and contribution of the individuals eligible
for the grants and the number of previously granted stock options. The Compensation Committee will then recommend to the Board for approval
all incentive compensation for our executives, based on both individual and Company performance in any given year, and will take into
consideration the levels of compensation paid to persons in the same or similar management positions at comparable companies, in making
such recommendations.

Option-based Awards

Pursuant to the Omnibus Plan, an option exercise
price cannot be less than the closing price of the Common Shares on the Exchange on the last trading day preceding the option grant. The
purchase price for the Common Shares under each option shall be determined by the Compensation Committee. The maximum term is ten (10)
years. There are no specific vesting provisions under the Omnibus Plan. Options are non-assignable and non-transferable other than by
will or by the laws of descent and distribution. As at the date hereof, there are 5,521 stock options outstanding under the Omnibus Plan,
which represents approximately 0.65% of the Common Shares reserved for issuance under the Omnibus Plan. Please see “ Item 6. A. Directors,
Senior Management and Employees - Share Ownership - Omnibus Equity Incentive Plan” below, for a summary of the Omnibus
Plan.

Compensation Governance

Given the Corporation’s size and stage of
operations, it has not appointed a Compensation Committee or formalized