Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 198

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 198
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businesses and business combinations as well as traveling to and from the offices, plants,
or similar locations of prospective target businesses to examine their operations. There
is no limit on the amount of out-of-pocket expenses reimbursable by us; provided, however,
that to the extent such expenses exceed the available proceeds not deposited in the trust
account and the interest income earned on the amounts held in the trust account, such expenses
would not be reimbursed to us unless we consummate an initial business combination.

After our initial business combination, members of
our management team who remain with us may be paid consulting, board, management, or other fees from the combined company with any and
all amounts being fully disclosed to shareholders, to the extent then known, in the proxy solicitation materials furnished to our shareholders.
It is unlikely the amount of such compensation will be known at the time of a shareholder meeting held to consider our initial business
combination, as it will be up to the directors of the post-combination business to determine executive and director compensation. In
this event, such compensation will be publicly disclosed at the time of its determination in a Current Report on Form 8-K, as required
by the SEC.

All ongoing and future transactions among us and
any of our officers and/or directors or their respective affiliates will be on terms believed by us to be no less favorable to us than
are available from unaffiliated third parties. Such transactions will require prior approval by our audit committee and a majority of
our independent directors, who in either case may, at our expense, be provided with access to our attorneys or independent legal counsel.
We will not enter into any such transaction unless our audit committee and a majority of our independent directors determines that the
terms of such transaction are no less favorable to us than those that would be available to us with respect to such a transaction from
unaffiliated third parties.

Related Party Policy

Prior to the consummation of this offering, we will
adopt a code of ethics requiring us to avoid, wherever possible, all conflicts of interests, except under guidelines or resolutions approved
by our board of directors (or the appropriate committee of our board). Related party transactions are defined as transactions in which
(1) the aggregate amount involved will or may be expected to exceed $120,000 in any calendar year, (2) we or any of our subsidiaries
is a participant, and (3) any (a) executive officer, director, or nominee for election as a director, (