Company: BSFC
Filing Date: 2025-03-05
Form Type: S-1
Source: 0001493152-25-009166
Chunk: 102

Company: Blue Star Foods Corp.
Filing Date: 2025-03-05
Form: S-1
Chunk 102
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     |              | - |     | $     | 40,000 |
| Juan Carlos Dalto (2) |     | $       | - |     | $         | 14,583 |     |           | - |     |                | - |     |              | - |     |              | - |     | $     | 14,583 |

(1) The aggregate grant date fair value is computed in accordance with FASB ASC Topic 718.

(2) Resigned from the Board on July 31, 2023.

Director Service Agreements

On April 20, 2022, the Company entered into new one-year director service agreements (which replaced the agreements entered into in March 2021) with each of the current members of the Board. The agreement will automatically renew for successive one-year terms unless either party notifies the other of its desire not to renew the agreement at least 30 days prior to the end of the then current term, or unless earlier terminated in accordance with the terms of the agreement. As compensation for serving on the Board, each director will be entitled to a $25,000 annual stock grant and for serving on a committee of the Board, an additional $5,000 annual stock grant, both based upon the closing sales price of the common stock on the last trading day of the calendar year. The director who serves as chairman of the Audit Committee, Compensation Committee and Nominating and Governance Committee will be entitled to an additional $15,000, $10,000 and $7,500 annual stock grant, respectively. As additional consideration for such Board service, on April 20, 2022, each director was granted a five-year option to purchase 25 shares of common stock at an exercise price of $2,000.00 per share, which shares vest in equal quarterly installments of 1.25 shares during the term of the option.

Limitation on Liability and Indemnification Matters

Our certificate of incorporation contains provisions that limit the liability of our directors for monetary damages to the fullest extent permitted by Delaware law. Consequently, our directors will not be personally liable to us or our stockholders for monetary damages for any breach of fiduciary duties as directors, except liability for:

| ● | any                                                                                                      
 breach of the director’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; |
|