Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 1203

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 7
Chunk 1203
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 officers and, in the discretion of our board of directors, certain employees to the fullest extent
    permitted by the DGCL, as it now exists or may in the future be amended; and

178

    ●
    we
    will advance reasonable expenses, including attorneys’ fees, to our directors and, in the discretion of our board of directors,
    to our officers and certain employees, in connection with legal proceedings relating to their service for or on behalf of us, subject
    to limited exceptions.

On
February 14, 2023, we entered into indemnification agreements with each of our directors and certain of our executive officers. These
agreements provide that we will indemnify each of our directors, certain of our executive officers and, at times, their affiliates to
the fullest extent permitted by Delaware law. We will advance expenses, including attorneys’ fees (but excluding judgments, fines
and settlement amounts), to each indemnified director, executive officer or affiliate in connection with any proceeding in which indemnification
is available and we will indemnify our directors and officers for any action or proceeding arising out of that person’s services
as a director or officer brought on behalf of us or in furtherance of our rights. Additionally, certain of our directors or officers
may have certain rights to indemnification, advancement of expenses or insurance provided by their affiliates or other third parties,
which indemnification relates to and might apply to the same proceedings arising out of such director’s or officer’s services
as a director or officer. Nonetheless, our obligations to those same directors or officers are primary and any obligation of such affiliates
or other third parties to advance expenses or to provide indemnification for the expenses or liabilities incurred by those directors
are secondary.

We
will maintain general liability insurance which covers certain liabilities of our directors and officers arising out of claims based
on acts or omissions in their capacities as directors or officers, including liabilities under the Securities Act of 1933, as amended,
or the Securities Act.

The
underwriting agreement filed as Exhibit 1.1 to this registration statement provides for indemnification of us and our directors and officers
by the underwriters against certain liabilities under the Securities Act and the Securities Exchange Act of 1934.

Item
15. Recent Sales of Unregistered Securities.

Set
forth below is information regarding securities issued by us, Aesther and Legacy Ocean within the three years preceding the filing of
this registration statement that were not registered under the Securities Act. No underwriters were