Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 720

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 1B
Chunk 720
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 has the authority to select the persons to whom awards are to be made,
to determine the number of shares to be subject to awards and the terms and conditions of awards, and to make all other determinations
and to take all other actions necessary or advisable for the administration of the 2018 Plan. The administrator is also authorized to
adopt, amend or rescind rules relating to administration of the 2018 Plan. Our board of directors may at any time remove the compensation
committee as the administrator and revest in itself the authority to administer the 2018 Plan. The full board of directors will administer
the 2018 Plan with respect to awards to non-employee directors.

Eligibility.
Options, SARs, restricted stock and all other stock-based and cash-based awards under the 2018 Plan may be granted to individuals
who are then our officers, employees or consultants or are the officers, employees or consultants of subsidiaries. Such awards also may
be granted to our directors. Only employees of the Company or certain subsidiaries may be granted ISOs.

Awards.
The 2018 Plan provides that the administrator may grant or issue stock options, SARs, restricted stock awards, restricted stock unit
awards, deferred stock awards, deferred stock unit awards, dividend equivalent awards, performance awards, stock payment awards and other
stock-based and cash-based awards, or any combination thereof. Each award will be set forth in a separate agreement with the person receiving
the award and will indicate the type, terms and conditions of the award.

Nonstatutory
Stock Options (“NSOs”). NSOs will provide for the right to purchase shares of common stock at a specified price that
may not be less than the fair market value of a share of common stock on the date of grant, and usually will become exercisable (at the
discretion of the administrator) in one or more installments after the grant date, subject to the participant’s continued employment
or service with us and/or subject to the satisfaction of corporate performance targets and individual performance targets established
by the administrator. NSOs may be granted for any term specified by the administrator that does not exceed 10 years.

Incentive
Stock Options (“ISOs”). ISOs will be designed in a manner intended to comply with the provisions of Section 422 of the
Code and will be subject to specified restrictions contained in the Code. Among such restrictions, ISOs must have an exercise price of
not less than the fair market value of a share of our Common