Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 203

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 203
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 to retain their positions with us may influence our management’s motivation in identifying or selecting a target business but we do not believe that the ability of our management to remain with us after the consummation of our initial business combination will be a determining factor in our decision to proceed with any potential business combination. We are not party to any agreements with our officers and directors that provide for benefits upon termination of employment.

Committees of the Board of Directors

Upon the commencement of trading of our units on Nasdaq, our board of directors will establish two standing committees: an audit committee and a compensation committee. Subject to phase-in rules, the rules of Nasdaq and Rule 10A-3 of the Exchange Act require that the audit committee of a listed company be comprised solely of independent directors. Each committee will operate under a charter that will be approved by our board and will have the composition and responsibilities described below.

Audit Committee

Upon the commencement of trading of our units on Nasdaq, our board of directors will establish an audit committee of the board of directors. [●], [●] and [●] will serve as the members of our audit committee. Under the Nasdaq listing standards and applicable SEC rules, we are required to have three members of the audit committee, all of whom must be independent. [●], [●] and [●] are each independent.

[●] will serve as the chair of the audit committee. Each member of the audit committee is financially literate and our board of directors has determined that [●] qualifies as an “audit committee financial expert” as defined in applicable SEC rules.

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We will adopt an audit committee charter, which will detail the principal functions of the audit committee, including:

| ● | assisting                                                                                                                                
 board oversight of (1) the integrity of our financial statements, (2) our compliance with legal and regulatory requirements, (3)         
 our independent registered public accounting firm’s qualifications and independence, and (4) the performance of our internal             
 audit function and independent registered public accounting firm; the appointment, compensation, retention, replacement, and oversight   
 of the work of the independent registered public accounting firm and any other independent registered public accounting firm engaged     
 by us;                                                                                                                                   |
| ● | pre-approving                                                                                                                            
 all audit and non-audit services to be provided by the independent registered public accounting firm or any other registered public      
 accounting firm engaged by us, and establishing pre-approval policies and procedures; reviewing and discussing with the independent      
 registered public accounting firm all