Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 171

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 10
Chunk 171
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 compensation committee must consist of at least three members of our board of directors, each of whom is intended to qualify as an
“outside director,” within the meaning of Section 162(m) of the Code, a “non-employee director” for purposes
of Rule 16b-3 under the Exchange Act and an “independent director” within the meaning of the NASDAQ rules. The 2018 Plan
provides that the board of directors or compensation committee may delegate its authority to grant awards to employees other than executive
officers to a committee consisting of one or more members of our board of directors or one or more of our officers, other than awards
made to our non-employee directors, which must be approved by our full board of directors.

Subject
to the terms and conditions of the 2018 Plan, the administrator has the authority to select the persons to whom awards are to be made,
to determine the number of shares to be subject to awards and the terms and conditions of awards, and to make all other determinations
and to take all other actions necessary or advisable for the administration of the 2018 Plan. The administrator is also authorized to
adopt, amend or rescind rules relating to administration of the 2018 Plan. Our board of directors may at any time remove the compensation
committee as the administrator and revest in itself the authority to administer the 2018 Plan. The full board of directors will administer
the 2018 Plan with respect to awards to non-employee directors.

Eligibility.
Options, SARs, restricted stock and all other stock-based and cash-based awards under the 2018 Plan may be granted to individuals
who are then our officers, employees or consultants or are the officers, employees or consultants of subsidiaries. Such awards also may
be granted to our directors. Only employees of the Company or certain subsidiaries may be granted ISOs.

Awards.
The 2018 Plan provides that the administrator may grant or issue stock options, SARs, restricted stock awards, restricted stock unit
awards, deferred stock awards, deferred stock unit awards, dividend equivalent awards, performance awards, stock payment awards and other
stock-based and cash-based awards, or any combination thereof. Each award will be set forth in a separate agreement with the person receiving
the award and will indicate the type, terms and conditions of the award.

Nonstatutory
Stock Options (“NSOs”). NSOs will provide for the right to purchase shares of common stock at a specified price that