Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 190

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 190
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) any civil, criminal, administrative or investigative proceedings (whether threatened, pending or completed) concerning us or our affairs in any court or tribunal, whether in the Cayman Islands or elsewhere. No such existing or former director (including alternate director), secretary or officer, however, shall be indemnified in respect of any matter arising out of his own dishonesty, fraud, willful default or willful neglect. To the extent permitted by law, we may make a payment, or agree to make a payment, whether by way of advance, loan or otherwise, for any legal costs incurred by an existing or former director (including alternate director), secretary or any of our officers in respect of any matter identified in above on condition that the director (including alternate director), secretary or officer must repay the amount paid by us to the extent that it is ultimately found not liable to indemnify the director (including alternate director), the secretary or that officer for those legal costs. We entered into agreements with our officers
and directors to provide contractual indemnification in addition to the indemnification provided for in our Post-offering Memorandum
and Articles of Association. We expect to purchase a policy of directors’ and officers’ liability insurance that insures
our officers and directors against the cost of defense, settlement or payment of a judgment in some circumstances and insures us against
our obligations to indemnify our officers and directors.

Our officers and directors have agreed to waive any
right, title, interest or claim of any kind in or to any monies in the trust account, and have agreed to waive any right, title, interest
or claim of any kind they may have in the future as a result of, or arising out of, any services provided to us and will not seek recourse
against the trust account for any reason whatsoever (except to the extent they are entitled to funds from the trust account due to their
ownership of public shares). Accordingly, any indemnification provided will only be able to be satisfied by us if (i) we have sufficient
funds outside of the trust account or (ii) we consummate an initial business combination.

We believe that these provisions, the insurance,
and the indemnity agreements are necessary to attract and retain talented and experienced officers and directors.

Insofar as indemnification for liabilities arising
under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions, we have
been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and