Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 174

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 10
Chunk 174
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 to the number of shares covered by the award. Dividend equivalents may be settled in cash or shares and at such times as determined
by our compensation committee or board of directors, as applicable.

Performance
Awards. Performance awards may be granted by the administrator on an individual or group basis. Generally, these awards will be based
upon specific performance targets and may be paid in cash or in common stock or in a combination of both. Performance awards may include
“phantom” stock awards that provide for payments based upon the value of our Common Stock. Performance awards may also include
bonuses that may be granted by the administrator on an individual or group basis and that may be payable in cash or in common stock or
in a combination of both.

Stock
Payment Awards. Stock payment awards may be authorized by the administrator in the form of common stock or an option or other right
to purchase common stock as part of a deferred compensation or other arrangement in lieu of all or any part of compensation, including
bonuses, that would otherwise be payable in cash to the employee, consultant or non-employee director.

51

Change
in Control. In the event of a change in control where the acquirer does not assume or replace awards granted prior to the consummation
of such transaction, awards issued under the 2018 Plan will be subject to accelerated vesting such that 100% of such awards will become
vested and exercisable or payable, as applicable. Performance awards will vest in accordance with the terms and conditions of the applicable
award agreement. In the event that, within the 12 month period immediately following a change in control, a participant’s services
with us are terminated by us other than for cause (as defined in the 2018 Plan) or by such participant for good reason (as defined in
the 2018 Plan), then the vesting and, if applicable, exercisability of 100% of the then-unvested shares subject to the outstanding equity
awards held by such participant under the 2018 Plan will accelerate effective as of the date of such termination. The administrator may
also make appropriate adjustments to awards under the 2018 Plan and is authorized to provide for the acceleration, cash-out, termination,
assumption, substitution or conversion of such awards in the event of a change in control or certain other unusual or nonrecurring events
or transactions. Under the 2018 Plan, a change in control is generally defined as:

●
the transfer or exchange