Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 1342

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 1342
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 Officer and other executive
officers and key employees.

In
fulfilling its responsibilities, the Compensation Committee may delegate any or all of its responsibilities to a subcommittee of the
Compensation Committee and, to the extent not expressly reserved to the Compensation Committee by the Board or by applicable law, rule,
or regulation, to any other committee of directors appointed by it.

The
Compensation Committee administers our executive compensation programs. This Compensation Committee is responsible for establishing the
policies that govern base salaries, as well as short- and long-term incentives, for executives and senior management. The Committee has
approval authority regarding the compensation of the Company’s Chief Executive Officer, as well as the Company’s other executive
officers and key employees.

68

Executive
Committee

The
Board formed an Executive Committee in January 2022 and adopted an Executive Committee charter, which is published on our website at
https://www.solunacomputing.com/investors/governance/. The Executive Committee consists of Messrs. Phelan (Chairman), Bottomley, Lipman,
and Toporek. The Board has determined that each of Mr. Phelan and Mr. Bottomley are independent, as defined under the applicable rules
and listing standards of Nasdaq.

The
purpose of the Executive Committee is to represent and assist the Board in its review and approval of certain transactions and other
matters requiring Board consideration, and to take action, where necessary, appropriate and authorized by the Board during intervals
between regular and special meetings of the Board. The Executive Committee has authority to: 1) monitor the management’s performance
against the approved budget of record; 2) authorize mining equipment purchase transactions up to the total uncommitted value of the current
budget for mining equipment purchase transactions as approved by the Board; 3) authorize the price at which equity securities of the
Company are sold; 4) authorize the payment of dividends to holders of preferred stock of the Company, provided that the Chief Financial
Officer of the Company confirms, in advance of any such payment, the sufficiency of the Company’s available funds and financial
ability to make any such payment; and 5) identify and assess business risks and develop and propose recommendations to management and
the Board to minimize such risks. Notwithstanding anything in the foregoing, the Executive Committee is not authorized to 1) take any
action that requires an adoption by an independent majority of the Board; 2) complete any transaction that would have a material