Company: OCEA
Filing Date: 2025-02-14
Form Type: PRE 14A
Source: 0001493152-25-006994
Chunk: 25

Company: Ocean Biomedical, Inc.
Filing Date: 2025-02-14
Form: PRE 14A
Chunk 25
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 directors to the N&CG Committee. The CEO must present information regarding a proposed related-party transaction to the Nominating and Corporate Governance Committee. Under the policy, where a transaction has been identified as a related-party transaction, the CEO must present information regarding the proposed related-party transaction to our Nominating and Corporate Governance Committee, once the same is established, for review. The presentation must include a description of, among other things, the material facts, the direct and indirect interests of the related parties, the benefits of the transaction to us and whether any alternative transactions are available. To identify related-party transactions in advance, we rely on information supplied by our executive officers, directors and certain significant shareholders. In considering related-party transactions, our Nominating and Corporate Governance Committee takes into account the relevant available facts and circumstances including, but not limited to:

| ● | whether                                                                                                                               
 the transaction was undertaken in the ordinary course of our business;                                                                |
| ● | whether                                                                                                                               
 the related party transaction was initiated by us or the related party;                                                               |
| ● | whether                                                                                                                               
 the transaction with the related party is proposed to be, or was, entered into on terms no less favorable to us than terms that could 
 have been reached with an unrelated third party;                                                                                      |
| ● | the                                                                                                                                   
 purpose of, and the potential benefits to us from the related party transaction;                                                      |
| ● | the                                                                                                                                   
 approximate dollar value of the amount involved in the related party transaction, particularly as it relates to the related party;    |
| ● | the                                                                                                                                   
 related party’s interest in the related party transaction, and                                                                        |
| ● | any                                                                                                                                   
 other information regarding the related party transaction or the related party that would be material to investors in light of the    
 circumstances of the particular transaction.                                                                                          |

The Nominating and Corporate Governance Committee shall then make a recommendation to the Board, which will determine whether or not to approve of the related party transaction, and if so, upon what terms and conditions. In the event a director has an interest in the proposed transaction, the director must recuse himself or herself from the deliberations and approval.

Except as set forth below, we have not had any related party transactions, regardless of dollar amount:

Certain Relationships and Related Transactions

Transactions with Poseidon Bio, LLC

In December 2020, Chirinjeev Kathuria, the then sole shareholder of Legacy Ocean, contributed 100% of his shares to a then-wholly-owned entity