Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 187

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 187
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 issuing an audit report or related work;     |

| ● | establishing                                                                                                                        
 procedures for the receipt, retention and treatment of complaints received by us regarding accounting, internal accounting controls 
 or reports which raise material issues regarding our financial statements or accounting policies; and                               |

| ● | approving                                                                                             
 reimbursement of expenses incurred by our management team in identifying potential target businesses. |

Financial Experts on Audit Committee

The audit committee will at all times be composed exclusively of “independent directors” who are “financially literate” as defined under the Nasdaq listing standards. The Nasdaq listing standards define “financially literate” as being able to read and understand fundamental financial statements, including a company’s balance sheet, income statement, and cash flow statement.

In addition, we must certify to Nasdaq that the committee has, and will continue to have, at least one member who has past employment experience in finance or accounting, requisite professional certification in accounting, or other comparable experience or background that results in the individual’s financial sophistication. The board of directors has determined that Mr. Wei(Victor) Zhang qualifies as an “audit committee financial expert,” as defined under rules and regulations of the SEC.

Compensation Committee

Upon the consummation of this offering, we will establish a compensation committee of the board of directors consisting of the independent directors. Mr. Ping Zhang will serve as chairman of the compensation committee. We will adopt a compensation committee charter, which will detail the principal functions of the compensation committee, including:

| ● | reviewing                                                                                                                           
 and approving on an annual basis the corporate goals and objectives relevant to our Chief Executive Officer’s compensation,         
 evaluating our Chief Executive Officer’s performance within the context of such goals and objectives, and determining and approving 
 the remuneration (if any) of our Chief Executive Officer based on such evaluation;                                                  |

| ● | reviewing                                                              
 and approving the compensation of all of our other executive officers; |

| ● | reviewing                                      
 our executive compensation policies and plans; |

| ● | implementing                                                                  
 and administering our incentive compensation equity-based remuneration plans; |

| ● | assisting                                                                                   
 management in complying with our proxy statement and annual report disclosure requirements; |

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

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

| ● | reviewing,                                                                              
 evaluating and recommending