Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2450

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 2450
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any such action, suit or proceeding. Section 145 permits corporations to pay expenses (including attorneys’ fees) incurred by directors
and officers in advance of the final disposition of such action, suit or proceeding. In addition, Section 145 provides that a corporation
has the power to purchase and maintain insurance on behalf of its directors and officers against any liability asserted against them
and incurred by them in their capacity as a director or officer, or arising out of their status as such, whether or not the corporation
would have the power to indemnify the director or officer against such liability under 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