Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 649

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 4
Chunk 649
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 annual report disclosure requirements;

●approving all special perquisites, special cash payments
and other special compensation and benefit arrangements for our officers and employees;

●producing a report on executive compensation to be included
in our annual proxy statement; and

●reviewing, evaluating and recommending changes, if appropriate,
to the remuneration for directors.

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. Other than the compensation described above, no other compensation of any kind, including
finders, consulting or other similar fees, will be paid to any of our existing shareholders, officers, directors or any of their respective
affiliates, prior to, or for any services they render in order to effectuate the consummation of an initial business combination. Accordingly,
it is likely that prior to the consummation of an initial business combination, the compensation committee will only be responsible for
the review and recommendation of any compensation arrangements to be entered into in connection with such initial business combination.

The charter also provides that the compensation
committee may, in its sole discretion, retain or obtain the advice of a compensation consultant, independent legal counsel or other adviser
and will be directly responsible for the appointment, compensation and oversight of the work of any such adviser.

However, before engaging or receiving advice from
a compensation consultant, external legal counsel or any other adviser, the compensation committee will consider the independence of each
such adviser, including the factors required by the Nasdaq and the SEC.

66

Nominating and Corporate Governance Committee

We have established a nominating and corporate governance
committee of the board of directors. The members of our nominating and corporate governance are Jaime W. Vieser, Michael Marquez
and Jeffrey T. Lager and Mr. Jeffrey T. Lager serves as chair of the nominating and corporate governance committee.

We have adopted a nominating and corporate governance
committee charter, which details the purpose and responsibilities of the nominating and corporate governance committee, including:

●identifying, screening and reviewing individuals qualified
to serve as directors, consistent with criteria approved by the board, and recommending to the board of directors candidates for nomination
for appointment at the annual general meeting of shareholders or to fill vacancies on the board of directors;

●developing and recommending to the board of directors and