FORM OF BOREALIS FOODS INC. DIRECTOR AND OFFICER INDEMNIFICATION AGREEMENT
Borealis Foods Inc.
DIRECTOR AND OFFICER INDEMNIFICATION AGREEMENT
THIS INDEMNIFICATION AGREEMENT (the “Agreement”) is made as of this ___ day of _____, 20___ between Borealis Foods Inc. (the “Corporation”), a corporation amalgamated under the Business Corporations Act (Ontario) and _____________(the “Indemnified Party”).
RECITALS:
A. The Corporation is permitted to indemnify its directors, officers and employees to the extent permitted herein. The Corporation considers it desirable and in the best interests of the Corporation to attract and retain the services of highly qualified individuals such as the Indemnified Party to serve as a director, officer and/or employee of the Corporation and to therefore enter into this Agreement to set out the circumstances and manner in which the Indemnified Party may be indemnified in respect of certain liabilities or expenses which the Indemnified Party may incur as a result of acting as a director, officer and/or employee of the Corporation.
…