Company: BLUWU
Filing Date: 2025-02-20
Form Type: S-1
Source: 0001493152-25-007630
Chunk: 202

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-02-20
Form: S-1
Chunk 202
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 independent directors, advisors, or their respective affiliates in connection with the 
 consummation of our initial business combination;                                                                                   |

| 137 |

| ● | We                                                                                                                                         
 may engage our sponsor or an affiliate of our sponsor as an advisor or otherwise in connection with our initial business combination       
 and certain other transactions and pay such person or entity a salary or fee in an amount that constitutes a market standard for           
 comparable transactions;                                                                                                                   |
| ● | Reimbursement                                                                                                                              
 for any out-of-pocket expenses related to identifying, investigating, negotiating and completing an initial business combination;          
 and                                                                                                                                        |
| ● | Repayment                                                                                                                                  
 of loans which may be made by our sponsor or an affiliate of our sponsor or certain of our officers and directors to finance transaction   
 costs in connection with an intended initial business combination. Up to $1,500,000 of such loans may be convertible into units of         
 the post-business combination entity at a price of $10.00 per unit at the option of the lender. Such units would be identical to           
 the private placement units. Except for the foregoing, the terms of such loans, if any, have not been determined and no written agreements 
 exist with respect to such loans.                                                                                                          |

After the completion of our initial business combination, directors or members of our management team who remain with us may be paid consulting or management fees from the combined company. All of these fees will be fully disclosed to shareholders, to the extent then known, in the proxy solicitation materials or tender offer materials furnished to our shareholders in connection with a proposed initial business combination. We have not established any limit on the amount of such fees that may be paid by the combined company to our directors or members of management. It is unlikely the amount of such compensation will be known at the time of the proposed initial business combination, 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, or recommended to the board of directors for determination, either by a compensation committee constituted solely by independent directors or by a majority of the independent directors on our board of 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 officers and directors may negotiate employment or consulting arrangements to remain with us after our initial business combination. The existence or terms of any such employment or consulting arrangements