Governance

At Seabed, we believe that maintaining strong corporate governance and operation is essential for our business — protecting our reputation, delivering value, and better understanding and responding to our stakeholders' varied needs. We consider corporate governance to be more than a set of written principles and practices. It is embedded in our culture of honesty and integrity and demonstrated daily in our actions and engagements.

Board Committees

Seabed Inc has three standing committees, each devoted to a different aspect of risk oversight. Learn more about the board of director committees Below.

• Audit Committee
• The purposes of the Audit Committee are to assist the board of directors with the oversight of (i) the integrity of the Company's financial statements, (ii) the Company's compliance with legal and regulatory requirements, (iii) the independent auditors' qualifications, independence, and performance, including having sole authority for appointment, compensation, oversight, evaluation, and termination, (iv) the performance of the Company's internal audit function and independent auditors, and (v) the accounting and financial reporting processes of the Company and audits of the Company's financial statements. The Committee shall also prepare any reports required to be prepared and disclosed by the Committee under the Securities and Exchange Commission's rules, the listing standards of any exchange upon which the Company's securities are listed for trading, or any other applicable laws or regulations.

• Corporate Governance and Nominating Committee
• The Corporate Governance and Nominating Committee shall assist the board of directors of Seabed Inc in fulfilling its responsibilities by identifying individuals qualified to become directors and recommending to the board of directors candidates for all directorships to be filled by the board of directors or by the stockholders of the Company. The Committee shall also assist the board of directors in identifying directors qualified to serve on the committees established by the board of directors and recommending to the board of directors members for each Committee to be filled by the board of directors. The Committee will also take a leadership role in shaping the corporate governance of the Company, including by developing and recommending to the board of directors a set of corporate governance principles applicable to the Company, covering matters such as (i) board organization, membership, and function, (ii) committee structure and membership, and (iii) a code of business conduct dealing with such matters as the ethical conduct of the Company's business and the prohibition of conflicts of interest for directors, officers, and employees.

• Management Development and Compensation Committee
• The principal purposes of the Management Development and Compensation Committee of Seabed Inc are (i) to assist the board of directors in the discharge of its responsibilities relating to compensation of the Company's executives, employees, and non-employee directors; (ii) to produce an annual report on executive compensation for inclusion in the Company's proxy statement, by the rules and regulations of the Securities and Exchange Commission; and (iii) to review human capital matters including executive succession planning and management development.