Company: BPAC
Filing Date: 2025-10-22
Form Type: S-1/A
Source: 0001185185-25-001525
Chunk: 166

Company: Blueport Acquisition Ltd
Filing Date: 2025-10-22
Form: S-1/A
Chunk 166
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 services provided to members of our management team,
which will not be due and payable until consummation of our initial business combination (if we do not consummate an initial business
combination, any accrued and unpaid amounts shall be forgiven). In addition, our sponsor, officers and directors, or any of their respective
affiliates will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying
potential target businesses and performing due diligence on suitable business combinations. There is no limit on the amount of these out-of-pocket
expenses, and there will be no review of the reasonableness of the expenses by anyone other than our board of directors and audit committee,
which includes persons who may seek reimbursement, or a court of competent jurisdiction if such reimbursement is challenged.

After the completion of our initial
business combination, directors or members of our management team who remain with us may be paid consulting, management or other fees
from the combined company. All these fees will be fully disclosed to shareholders, to the extent then known, in the tender offer materials
or proxy solicitation materials furnished to our shareholders in connection with a proposed business combination. It is unlikely the amount
of such compensation will be known at the time, because the directors of the post-combination business will be responsible for determining
executive officer and director compensation. Any compensation to be paid to our executive officers will be determined by a compensation
committee constituted solely of independent directors.

We do not intend to take any action
to ensure that members of our management team maintain their positions with us after the consummation of our initial business combination,
although it is possible that some or all of our executive officers and directors may negotiate employment or consulting arrangements to
remain with us after the initial business combination. The existence or terms of any such employment or consulting arrangements to retain
their positions with us may influence our management’s motivation in identifying or selecting a target business but we do not believe
that the ability of our management to remain with us after the consummation of our initial business combination will be a determining
factor in our decision to proceed with any potential business combination. We are not party to any agreements with our executive officers
and directors that provide for benefits upon termination of employment.

Director Independence

Nasdaq requires that a majority
of our board must be composed of “independent directors.” Currently Ms. Yieh, Mr. Silverman and Mr. Sanders would each be
considered an “independent director” under the Nas