Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 124

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 9C
Chunk 124
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 the board of directors.

Committees

We
have established three committees under the board of directors: an audit committee, a compensation committee and a nominating and corporate
governance committee. We have adopted a charter for each of the three committees. Each committee’s members and functions are described
below.

44

Audit
Committee. Our audit committee consists of Jeffrey Guzy, Trond Ringstad and Timothy McLellan. Mr. Guzy is the chairman of the
audit committee. We have determined that Messrs. Guzy, Ringstad and McLellan each satisfy the “independence” requirements
of NASDAQ Listing Rule 5605(a)(2) and meets the independence standards under Rule 10A-3 under the Exchange Act. We have determined that
Mr. Guzy qualifies as an “audit committee financial expert.” The audit committee oversees our accounting and financial reporting
processes and the audits of the financial statements of our company. The audit committee is responsible for: (a) representing and assisting
the Board in its oversight responsibilities regarding the Company’s accounting and financial reporting processes, the audits of
the Company’s financial statements, including the integrity of the financial statements, and the independent auditors’ qualifications
and independence; (b) overseeing the preparation of the report required by SEC rules for inclusion in the Company’s annual proxy
statement; (c) retaining and terminating the Company’s independent auditors; (d) approving in advance all audit and permissible
non-audit services to be performed by the independent auditors; (e) reviewing related person transactions.(d) approving in advance all
audit and permissible non-audit services to be performed by the independent auditors; and (f) performing such other functions as the
Board may from time to time assign to the Committee.

Compensation
Committee. Our compensation committee consists of Jeffrey Guzy, Trond Ringstad and Timothy McLellan. Mr. Guzy is the chairman
of our compensation committee. We have determined that Messrs. Guzy, Ringstad and McLellan each are “independent,” as such
term is defined for directors and compensation committee members in the listing standards of the NASDAQ Stock Market LLC. Additionally,
each qualify as “non-employee directors” for purposes of Rule 16b-3 under the Securities Exchange Act of 1934 and as “outside
directors” for purposes of Section 162(m) of the Internal Revenue Code. The Committee has been established to: (a) assist the