Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 515

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 3
Chunk 515
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 Section 145.

We
have adopted provisions in our amended and restated certificate of incorporation and amended and restated bylaws to be in effect immediately
prior to the completion of this offering that limit or eliminate the personal liability of our directors and officers to the fullest
extent permitted by the DGCL, as it now exists or may in the future be amended. Consequently, a director will not be personally liable
to us or our stockholders for monetary damages or breach of fiduciary duty as a director or officer, except for liability for:

    ●
    any
    breach of the director’s or an officer’s duty of loyalty to us or our stockholders; any act or omission not in good faith
    or that involves intentional misconduct or a knowing violation of law; any unlawful payments related to dividends or unlawful stock
    purchases, redemptions or other distributions; or any transaction from which the director derived an improper personal benefit.

These
limitations of liability do not alter director or officer liability under the federal securities laws and do not affect the availability
of equitable remedies such as an injunction or rescission.

In
addition, our bylaws provide that:

    ●
    we
    will indemnify our directors, officers and, in the discretion of our board of directors, certain employees to the fullest extent
    permitted by the DGCL, as it now exists or may in the future be amended; and

178

    ●
    we
    will advance reasonable expenses, including attorneys’ fees, to our directors and, in the discretion of our board of directors,
    to our officers and certain employees, in connection with legal proceedings relating to their service for or on behalf of us, subject
    to limited exceptions.

On
February 14, 2023, we entered into indemnification agreements with each of our directors and certain of our executive officers. These
agreements provide that we will indemnify each of our directors, certain of our executive officers and, at times, their affiliates to
the fullest extent permitted by Delaware law. We will advance expenses, including attorneys’ fees (but excluding judgments, fines
and settlement amounts), to each indemnified director, executive officer or affiliate in connection with any proceeding in which indemnification
is available and we will indemnify our directors and officers for any action or proceeding arising out of that person’s services
as a director or officer brought on behalf of us or in furtherance of our rights. Additionally, certain of our directors or officers
may have