Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 313

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 10
Chunk 313
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 Naparstek to serve on the Board
filling a vacancy after Tom Lapinski’s retirement. Mr. Naparstek has built a global network of investors, innovators and philanthropists,
and has served as a Corporate Consultant to Okmin Resources since January 2021. Since 2002, Mr. Naparstek has been engaged in various
consulting roles with private and public companies. Mr. Naparstek has been a board member of Perfectomundo Inc. since September 2018,
and has been instrumental in building and growing a variety of their new tequila brands in the marketplace. Prior to 2002, Mr. Naparstek
was a principal executive of a network of non-profit organizations focused on religious, educational and social service activities.
He continues to be actively sought out as an advisor to organizations and charitable foundations on the West Coast.

Directors hold office until
the next annual meeting, or by written consent, of the Company’s shareholders, and the election and qualification of their successors.
Officers hold office at the pleasure of the Company’s Board of Directors, and are subject to removal at any time by the Board.

Board Leadership Structure and Role in Risk Oversight

Our Board of Directors (“Board”) is primarily
responsible for overseeing our risk management processes on behalf of the Company. The Board receives and reviews periodic reports from
management, auditors, legal counsel, and others, as considered appropriate regarding our company’s assessment of risks. In addition,
the Board focuses on the most significant risks facing our company and our company’s general risk management strategy, and also
ensures that risks undertaken by our company are consistent with the board’s appetite for risk. While the Board oversees our company’s
risk management, management is responsible for day-to-day risk management processes. We believe this division of responsibilities is the
most effective approach for addressing the risks facing our company and that our board leadership structure supports this approach.

Family Relationships

There is no family relationship between the individuals
serving as executive officers and directors.

Involvement in Certain Legal Proceedings

During the past ten years, none of the persons serving
as our executive officers and directors has been the subject of any of the following legal proceedings that are required to be disclosed
pursuant to Item 401(f) of Reg. S-K: (a) any bankruptcy petition filed by or against any business of which such person was a general partner
or executive officer either at the time of the bankruptcy