Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 281

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 281
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 may provide for indemnification of officers and directors,
except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide
indemnification against willful default, willful neglect, civil fraud or the consequences of committing a crime. Our Memorandum and Articles
of Association provides for indemnification of our officers and directors to the maximum extent permitted by law, (i) no individual serving
as a director or an officer shall have any duty, except and to the extent expressly assumed by contract, to refrain from engaging directly
or indirectly in the same or similar business activities or lines of business as us; and (ii) we renounce our interest in any corporate opportunity offered to any director or officer unless such opportunity is expressly offered to such person
solely in his or her capacity as a director or officer of our company and such opportunity is one we are legally and contractually permitted
to undertake and would otherwise be reasonable for us to pursue, and to the extent the director or officer is permitted to refer that
opportunity to us without violating another legal obligation. We will enter into agreements with our directors and officers to provide
contractual indemnification in addition to the indemnification provided for in our 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,