Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 934

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 9
Chunk 934
---

conflict of interest on the part of a director, employee or officer.

To
further minimize conflicts of interest, we have agreed not to consummate an initial business combination with an entity that is affiliated
with any of our founders unless we, or a committee of independent directors, have obtained an opinion from an independent investment
banking firm which is a member of FINRA or an independent accounting firm that our initial business combination is fair to our company
from a financial point of view. Furthermore, no finder’s fees, reimbursements or cash payments will be made to our founders, existing
officers, directors or advisors, or our or their affiliates, for services rendered to us prior to or in connection with the completion
of our initial business combination although we may consider cash or other compensation to officers or advisors we may hire subsequent
to the IPO to be paid either prior to or in connection with our initial business combination. In addition, the following payments will
be made to our founders or their affiliates, none of which will be made from the proceeds of the IPO held in the trust account prior
to the completion of our initial business combination:

    ●
    Repayment
    to an aggregate of up to $300,000 in loans made to us by our sponsor;

    ●
    Reimbursement
    for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination; and

    ●
    Repayment
    of loans which may be made by our founders or an affiliate of our founders to finance transaction costs in connection with an intended
    initial business combination, the terms of which have not been determined nor have any written agreements been executed with respect
    thereto. Up to $300,000 of such loans may be convertible into working capital units, at a price of $10.00 per unit at the option
    of the lender. Such working capital units are identical to the Private Placement Units sold in the private placement.

Our
audit committee will review on a quarterly basis all payments that were made to our founders or their affiliates.

  86 

Director
Independence

NASDAQ
listing standards require that a majority of our board of directors be independent. An “independent director” is defined
generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship
which in the opinion of the company’s board of directors, would interfere with the director’s exercise of independent judgment
in carrying out the responsibilities