This Funding Agreement (the "Agreement") is made and entered into on [DATE] by and between: [Vessel Owner/Operator], a company duly incorporated under the laws of [STATE or COUNTRY] having its principal office at [ADDRESS] (hereinafter referred to as "VO")] and SVITZER Salvage Americas, Inc., a company duly incorporated and existing under the laws of Delaware, having its principal office in One Park Square, 3470 NW 82nd Ave, Suite 650, Doral, FL 33122, USA  (hereinafter referred to as "SVITZER"), [VO] and SVITZER are hereinafter referred to as a "Party" and collectively as "Parties". WHEREAS, [VO] is a [NATIONALITY] company whose vessel(s) transit through Navigable Waters of the United States. WHEREAS, [VO] is required to comply with Title 33 Part 155 of the United States Code of Federal Requlations - Oil or Hazardous Material Pollution Prevention Regulations for Vessels (hereinafter referred to as the "33 CFR 155"), specifically 33 CFR 155 Subpart I for Tank Vessels and 33 CFR 155 Subpart J for Non-tank Vessels - Salvage and Marine Fire-Fighting Requirements: Vessel Response Plans for Oil (hereinafter referred to as the "Regulations"); WHEREAS, SVITZER is part of the SVITZER Group, which amongst others, provides harbor and terminal towage, ocean towage, salvage and related safety and support services worldwide; WHEREAS, SVITZER is a qualified provider of salvage and marine fire-fighting services as listed in the Regulations. WHEREAS, the Parties wish to agree to the terms set forth herein for the planning and provision of salvage and marine fire-fighting services as set out in this Agreement, in respect to the vessel(s) listed in Appendix II. NOW, THEREFORE, IT IS AGREED AS FOLLOWS: ARTICLE 1 - CERTAIN DEFINITIONS a. Navigable Waters of the United States: shall mean, as defined in section 502(7) of the Federal Water Pollution Control Act (hereinafter referred to as the "FWPCA"), and includes: "(1) all navigable waters of the United States, as defined in judicial decisions prior to the passage of the 1972 Amendments of the FWPCA (Pub. L. 92-500) also known as the Clean Water Act, and tributaries of such waters as; (2) interstate waters; (3) intrastate lakes, rivers, and streams which are utilized by interstate travelers for recreational or other purposes; and (4) intrastate lakes, rivers, and streams from which fish or shellfish are taken and sold in interstate commerce." b. Qualified individual and alternate qualified individual (hereinafter referred to as the "QI"); means a shore-based representative of a vessel owner or operator who meets the requirements of 33 CFR 155.1026; as further identified below: i. Speak fluent English; ii. Except as set out in paragraph (c) of this 33 CFR 155.1026, be located in the United States: iii. Be familiar with the implementation of the vessel response plan; and iv. Be trained in the responsibilities of the qualified individual under the response plan. C. Written Notification; shall mean a formal announcement of a legally, operational and/or commercial relevant fact or; an action or intent given by sending an electronic message to the electronic service address at or through which the party or other person has authorized electronic service. d. Reasonable: shall mean fair, proper, moderate or as otherwise required or expected under the circumstances. e. Out of Pocket Expenses: Out of pocket expenses shall mean all monies reasonably paid by or for and on behalf of the VO to any third party and in particular includes but not limited to the hire of men, tugs, other craft and equipment used and other expenses reasonably necessary for the operation.
ARTICLE 2 - INTENTION AND PURPOSE
2.1 The purpose of this Agreement is to outline the binding terms, conditions and pre-arranged rates and/or procedures between the Parties regarding the provision of salvage and marine fire-fighting services; as set forth in 33 CFR 155.4030(a) through 33 CFR 155.4030(h). 2.2 SVITZER hereby consents to be named as the primary salvage and marine fire-fighting services resource provider in [VO]'s active version of their Vessel Response Plan (hereinafter referred to as the *VRP*). 2.3 SVITZER also agrees that [VO] may disclose this Agreement to the United States Coast Guard (hereinafter referred to as the "USCG") for inspection, as provided in 33 CFR 155.4045(c) of the Regulations, and may also provide a copy of this Agreement to the vessel(s) listed in Appendix II and/or a QI. 2.4 SVITZER hereby warrants and certifies that it fully meets all of the fifteen qualifying criteria listed in 33 CFR 155.4050 of the Regulations, and is capable of providing the Services in accordance with the planned response timeframes listed in Table 155.4030(b) of the Regulations, and shall maintain such capability and is committed to meet the VRP requirements for the duration of this Agreement.
ARTICLE 3 - PROVISION OF SERVICES
3.1 [VO] shall pay to SVITZER an annual retainer fee of $(TBD) per vessel listed in Appendix II. Retainer fee is payable in advance and non-refundable and shall be due thirty (30) days after receipt of invoice, and in conformity to Article 8 of the Agreement. SVITZER may change this fee upon 60 days' notice to [VO] by means described in Appendix IV. 3.2 SVITZER hereby agrees to provide [VO] with the nineteen (19) salvage and marine firefighting services as set forth in 33 CFR 155.4030 of the Regulations (hereinafter referred to as the "Services"), in case of activation of the VRP. The Services shall be fulfilled in each of the Captain of the Port zone (hereinafter referred to as the "COTP") listed in Appendix III. Notwithstanding, [VO] understands SVITZER's resources may not be immediately available and assets from other providers and/or locations shall be mobilized, in accordance to this Agreement. 3.3 Services shall be pre-arranged under the terms and conditions of a BIMCO Wreckhire 2010 contract suitably amended, or any future amended version (hereinafter referred to as the "Contract"). Current edition attached hereto as Appendix I. 3.4 Notwithstanding Article 3.3, and while the Services are being executed under the Contract, at any given time Parties may, upon mutual consent, agree to continue the provision of Services under a Lloyd's Standard Form of Salvage Agreement 2011 with SCOPIC Clause incorporated, or any future amended version (hereinafter referred to as the "LOF"), or other contract mutually agreed by the parties. 3.5 SVITZER shall, in compliance with the National Preparedness Guidelines (the PREP), and as required by 33 CFR 155.4052, participate in the following exercises and retain in record for three years: (a) Shore-based salvage and shore-based marine firefighting management team tabletop exercises, to be conducted at least annually; (b) Response provider equipment deployment exercises, to be conducted at least annually; (c) An exercise of the entire response plan, which must be conducted every three years. 3.6 [VO] shall be responsible for payment of SVITZER's administrative services and exercise obligations in connection with the foregoing requirements, if and when exercises are executed in behalf of [VO]. Applicable rates for the provision of services under this Clause 3.4 are attached to the Contract as Annex IV.
ARTICLE 4 - BINDING EFFECT
4.1 The terms of this Agreement are legally binding for the Parties, heirs, executors, administrators, successors and assignees of the Parties hereto. 4.2 By executing this Agreement, [VO] and SVITZER represent, warrant and covenant that they have full power and authority to execute this Agreement and each individual executing this Agreement on behalf of a Party has been duly authorized and empowered to execute and deliver the same on behalf of the respective Party.
ARTICLE 5 - [VO] RIGHTS AND OBLIGATIONS
5.1 [VO] shall have the right to appoint a representative to attend the salvage and/or marine fire-fighting operation throughout the entire response. However, [VO] agrees that SVITZER is and shall be an independent contractor, and whose appointed Salvage Master or representative shall be responsible for and have overall control of the operation. Nonetheless, to the extent that circumstances allow, any proposed methods and/or procedures shall be discussed and agreed in advance with the [VO]'s representative, who shall also be entitled to be kept informed of the response's progress. 5.2 [VO] will name SVITZER as the primary resource provider of the Services in the [VO]'s VRP, which shall be submitted to the COTP(s) listed in Appendix III. The foregoing relationship between the parties shall be on an exclusive basis for the duration of this Agreement. 5.2 [VO] agrees to provide SVITZER with a copy of the VRP, as required by 33 CFR 155.1035(c) of the Requlations. 5.3 [VO] agrees to provide SVITZER with a copy of the required marine firefighting pre-fire plan and arrangements (hereinafter referred to MFP) for each vessel listed in Appendix II, in accordance with 33 CFR 155.4035. This information shall be made available to SVITZER at least sixty (60) calendar days prior to the date on which this Agreement is to take effect. If within thirty (30) calendar days of receipt of a vessel specific MFP, SVITZER finds it unacceptable, it shall notify [VO] and give a term of thirty (30) calendar days to correct the MFP. If within thirty (30) calendar days after notifying [VO] of the vessel specific MFP objection, [VO] does not correct the MFP, a registered letter will be sent to [VO] suspending that ship from coverage until the MFP is corrected to the satisfaction of SVITZER. 5.4 [VO] shall make commercially reasonable efforts to make its vessels available to SVITZER for casualty response planning purposes. ARTICLE 6 - ACTIVATION OF VESSEL RESPONSE PLAN 6.1 SVITZER will commence work covered under this Agreement upon [VO] and/or QI's initiation of response to an incident site. All notifications under this Article 6 shall be done in accordance with Appendix IV. 6.2 [VO] and/or the QI, or both, shall be responsible for promptly notifying SVITZER of the VRP activation. 6.3 SVITZER will confirm acknowledgement of the VRP activation and will advise the [VO] and/or the QI, by phone or email and in accordance to Article 6.1, of the response mobilization. 6.4 Upon confirmation by SVITZER of its response mobilization under Clause 6.3, [VO] shall be deemed to have entered into a new Contract with SVITZER on behalf of the relevant vessel(s) listed in Appendix II, on the terms of the Contract attached hereto as Appendix I, which such Contract shall be effective upon the activation of the VRP. This new Contract shall be signed by or on behalf of SVITZER and [VO] as soon as reasonably practicable.
ARTICLE 7- CHARGING AND INVOICES
7.1 For the avoidance of doubt, remuneration and payment matters for salvage and marine firefighting services provided by SVITZER are planned in the Contract attached hereto as Appendix I, which shall be entered into in respect of each incident as described in Article 6.4 and shall include the total of the tariff rates of personnel; tugs and other craft; portable salvage and firefighting equipment and out of pocket expenses. Calculation of the remuneration in respect of all personnel; tugs and other craft; and portable salvage and fire fight equipment shall be assessed on a time and materials basis in accordance with the Tariffs set out in Annex IV of the Contract. [VO] acknowledges that Tariffs may be subject to change by SVITZER upon thirty (30) days written notice to [VO]. 7.2 Remuneration and payment matters for services contemplated under this Agreement are assessed hereunder Article 8.
ARTICLE 8 - PAYMENT TERMS
8.1 All amounts due under this Agreement shall be payable by the due date specified in the Invoice (hereinafter referred to as the "Due Date"). Any amounts in dispute will be discussed and, failing agreement, referred to procedures as per Clause 12. In the event that all or part of a disputed amount which has not been paid is found to be valid, interest shall be paid on such sum in the amount of LIBOR +2% per annum and applied retroactively to the original Due Date.
ARTICLE 9 – CONTRACT PARTICULARS
9.1 Appendices hereto are deemed to be incorporated into this Agreement and form an integral part hereof.
ARTICLE 10 – CONFIDENTIALITY
10.1 None of the Parties hereto shall make any public disclosure or announcement concerning the fact that discussions are taking place, or concerning the existence of this Agreement, its contents or the status of the negotiations between [VO] and SVITZER without obtaining the prior consent of the other Party. The aforementioned shall be relevant in all cases; with the exception of information which has already been disclosed, as required by applicable law or in order for the Parties to consult with their respective insurers. 10.2 Parties may not make any press releases, press statements or similar in relation to this Agreement without the prior written consent of the other Party. 10.3 The terms of this Article 10 shall survive the termination of this Agreement for a period of three (3) years after such termination.
ARTICLE 11 - COSTS
11.1 Each Party shall bear its own expenses in connection with this Agreement. ARTICLE 12 - GOVERNING LAW & ARBITRATION 12.1 This Agreement shall be governed, interpreted, and construed in accordance with the general maritime law of the United States of America. To the extent that the general maritime law of the United States of America is inapplicable, the laws of the State of New York shall apply regardless of its conflict of laws principles. It is hereby agreed that the dispute shall be determined by arbitration administered by the SMA in accordance with the SMA Rules of Arbitration. Each dispute submitted by the parties to arbitration shall be heard by an arbitration panel composed of three (3) arbitrators. Each party shall appoint one arbitrator, and these two will appoint the third arbitrator who shall chair the arbitration panel. The seat of arbitration shall be in New York and the language of the arbitration shall be in English. The arbitrator's decision shall be final and legally binding and judgment on the award may be entered in any court with competent jurisdiction. Each Party shall be responsible for its share of the arbitration fees in accordance with the applicable Rules of Arbitration. In the event a Party fails to proceed with arbitration, unsuccessfully challenges the arbitrator's award, or fails to comply with the arbitrator's award, the other Party is entitled to costs of suit, including a reasonable attorney's fee for having to compel arbitration or defend or enforce the award.
ARTICLE 13 -EFFECTIVENESS
13.1 This Agreement shall commence on the date of its execution and be valid for a period of (TBD) and shall be automatically renewed upon expiry for an additional twelve (12) month period unless notified otherwise by either Party with sixty (60) days prior written notice. 13.2 The Parties may transfer this Agreement to any of their wholly owned subsidiaries or a parent company or an affiliate of the parent company that directly or indirectly owns 100% of the Party. A transfer to a wholly owned subsidiary or a parent company or an affiliate of the parent company may only take place upon 90 days prior written notice to the other Party. Except as provided above, this Agreement may not be assigned, in whole or in part, whether by [VO] or by SVITZER, without the prior written consent of the other Party. 13.3 Parties may not modify this Agreement without written notification and signature by both Parties executing this instrument, inspection and approval of the USCG.
ARTICLE 14 - SEVERABILITY OF PROVISIONS
14.1 If any provision of this Agreement or the application thereof to any situation or circumstance shall be invalid or unenforceable, the remainder of this Agreement shall not be affected, and each remaining provision shall be valid and enforceable to the fullest extent. In the event of such partial invalidity, the Parties agree to, in good faith, replace any such legally invalid or unenforceable provision with valid and enforceable provisions that, from an economic viewpoint, most nearly and fairly approach the effect of the invalid or unenforceable provision. 14.2 The headings to the articles of this Agreement are to facilitate reference only, do not form a part of this Agreement and shall not in any way affect the interpretation hereof.
ARTICLE 15 – GENERAL PROVISIONS
15.1 In the event [VO] sells or disposes of any of the vessels listed in Appendix II and gives written certification that the vessel in question will not trade in United States waters as part of the [VO] fleet for the duration of this Agreement, SVITZER agrees to delete that vessel from this Agreement and de- obligates the [VO] from any future payments related to the deleted vessel, except for those payments accrued prior to above-mentioned certification. 15.2 This Agreement and all addenda and exhibits attached hereto, signed and/or initialed by the Parties hereto, constitute the entire agreement between the Parties. This Agreement shall not be amended, changed or extended except by written instrument signed by both parties hereto. 15.3 Notwithstanding any other provision hereof, should any law or regulation, or any governmental ruling, order, policy, or request (such as import or export restrictions, license requirements, exchange controls, or request on any document for certification or statements) effectively restrict any Party from implementing any portion of this Agreement, then such Party shall use their best reasonable efforts to reduce the effect of such restriction. 15.4 Each Party agrees to perform any further acts and execute and deliver any further documents that may be reasonably necessary to carry out the provisions of this Agreement. 15.5 The Parties agree that the Services to be provided hereunder, including those of the personnel, equipment and/or ships/craft offered by SVITZER to [VO] are not exclusively offered to [VO] and that SVITZER is free to contract with others for the provision of any services, including without limitation any similar response services. 15.6 This Agreement is in the English language only, which language is controlling in all respects. 15.7 SVITZER shall carry, or cause to be carried, with an insurance company acceptable to [VO], insurance coverage with limits of not less than USD$2,000,000, such insurance cover including Contractor's Liability assumed under this contract. A certificate of insurance will be furnished to [VO] upon request.
ARTICLE 16 - NOTICE
16.1 Each party will appoint a person to serve as the official contact for this Agreement and for ensuring that up to date contact details for coordination of response activities of their organization are maintained.  All notifications under this Article shall be done pursuant to Appendix IV. IN WITNESS WHEREOF, the parties have duly executed this document on the date stipulated in the 1st paragraph of this Agreement.
Explanatory Notes for WRECKHIRE 2010 are available from BIMCO at www.bimco.org (DAILY HIP PART I
This document is a computer generated. WREOORE: 2010 form printed by authorly, of BIMCO.  Any inserson of deletion to the form must be clearly visible. In the event of any m made to the pre-of-tied  lext of this document  which is not clearly visible. the text of itel original BIMCO approved document  shall apply. BIMCO assumes no itsponsibility damage or experse as a result of discrepancies between the orginal BIMCO approved document and this computer generated document. iblished 1993. Revised 1999 and 2
ed by the International Salvage U ted by BIMCO's ide ight, published by BIMO
ational Salvage Union (
It is agreed that this Agreement shall be performed subject to the Terms and Conditions which consist of PART i, including Additional Clauses, if any agreed, and PART II, aswell asAnnex I (SCHEDULE OF PERSONNEL, CRAFT AND EQUIPMENT), Annex II (METHOD OF WORK AND ESTIMATED TIME SCHEDULE), and Arinex III (CONTRACTOR'S DAILY REPORTS), Annex IV (RATE SHEET)  or any other Annexes attached to this Agreement. In the event of a conflict of terms and conditions, the provisions of PART I including Addional Clauses, if any agreed, shall prevail over those of PART II to the extent of such conflict but no further. The undersigned warrant that they have full power and authority to sign this Agreement on behalf of the parties they represent. Signature (for and on behalf of the Contractor) Signature (for and on behalf of the Company) continued This document is a computer generated  WREOKIRE  2010 fom  pirised by authorly  of BIMOO.  Any insesson of deleton to the form  must be clearly  voible. In the event of any made to the preparitied  lext of ess document  which is not cleafly visible. The lext of he original BIMO appored document  shall apply.  BIMO  assumes no insponsiblity for danage of experise as a result of discitions between the orginal BIMCO approved document and this compatit generated  document. 2 ANNEX I (SCHEDULE  OF PERSONNEL,  CRAFT AND EQUIPMENT) INTERNATIONAL  WRECK  REMOVAL  AND MARINE SERVICES  AGREEMENT（DAILY HIRE) CODE NAME: WRECKHIRE  2010 Dated: Vessel: Schedule of Personnel, Craft and Equipment  ( Cl. 2, 4 and 13(g)) AS THE OPERATION  REQUIRES continued This document is a computer generaled  WREOHIRE  2010 for  pined by authority  of BIMOO.  Any insesson of deletion to be form must be clearly visible. In the event of any no made to the preorited lext of this document which is not clearly visible. The lext of he of institute BMCO approved document shall apply. BMCO assumes no itsponsibility for 3 ANNEX  II (METHOD OF WORK  AND ESTIMATED TIME SCHEDULE) INTERNATIONAL  WRECK  REMOVAL  AND MARINE SERVICES  AGREEMENT（DAILY HIRE) CODE NAME: WRECKHIRE  2010 Dated: Vessol: Method of Work and Estimated Time  Schedule ( Ω , 2 and 4 ) AS THE OPERATION  REQUIRES continued This document is a computer generaled  WREOKERE  2010 fom  pirited by authority  of BIMOO.  Any inserion of deletion to be form  must be clearly  visible. In the event of an made to the preorited lext of this document which is not clearly visible. The lext of he of institute BMCO approved document shall apply. BMCO assumes no itsponsibility for 4 INTERNATIONAL  WRECK  REMOVAL AND MARINE SERVICES  AGREEMENT  (DAILY HIRE) CODE NAME: WRECKHIRE  2010
Weather on location:
Long range forecast (5 days): Services: - performed in last 24 hours: - planned for next 24 hours:
continued This document is a computer generalist. WREOORE: 2010 form pieted by authority, of BIMOO. Any insesson or deletion to Be form must be clearly visible, in the event of any no made to the prepering  lext of this document which is not clearly visible, the lext of he of grail BIMCO approved document stati apply. BIMCO assumes to itsponsiblity for an damage of expense as a result of discripancies between the orginal BIMCO approved document and this computer generated  document. 5 (contnued)
Areas of concern: Health & safety Environmental Other Commonts: Contractor's Representative Company Representative
Contractor's Daily Reports (CI, 2). continued This document is a computer generaled  WREOKERE  2010 fom  pirited by authority  of BIMOO.  Any inserion of deletion to be form  must be clearly  visible. In the event of an made to the preorited lext of this document which is not clearly visible. The lext of he of institute BMCO approved document shall apply. BMCO assumes no itsponsibility for a
ANNEX IV (RATE SHEET)
INTERNATIONAL  WRECK  REMOVAL  AND MARINE SERVICES  AGREEMENT  (DAILY HIRE)
CODE NAME: WRECKHIRE  2010 continued This document is a computer generaled  WREOKERE  2010 fom  pirited by authority  of BIMOO.  Any inserion of deletion to be form  must be clearly  visible. In the event of an made to the previous lext of this document and is not clearly visible. The lext of he of inside BMCO appored document shall apply.  BMCO assumes no responsibling for any los 7.

2
WRECKHIRE  2010 - International Wreck Removal and Marine Services Agreement (Daily Hire)
PART II
-1.11 112 113 114 115 .116. 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 -140. 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 .163
3

Companyat least three (3) working days' written notice of its intention to exercise this right. 164 (g) The Contractor s hall promptly invoice the Company for all sums payable under this Agreement. If any sums which become due and payable are not actually received by the Contractor within the period specified in Box 13, they shall attract interest in accordance with the rate set out in Box 13. 165 166 .167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 (1) all costs in respect of fuels and lubricants consumed during the Services, unless included in the Daily Rates, 201 If any such costs are in fact paid by or on behalf of the Companyby the Contractor, the Companyshall reimburse  202 the Contractor on the basis of the actual cost to the Contractor plus a handling charge of the percentage amount 203 204 indicated in Box 14(i) for Clause 13(a) - (h) costs or Box 14(ii) for Clause 13(i) costs, upon presentation of invoice. 205 206 207 14. Extra Costs of disposal of Vessel All extra costs incurred resulting from the disposal of the Vessel shall be for the account of the party stated in Box 9(i). If the Companyis the party stated in Box 9(i) and any such costs are paid by or on behalf of the Companyby the Contractor, the Companyshall reimburse the Contractor on the basis of the actual cost to the Contractor plus a handling charge of the percentage amount indicated in Box 9(i) upon presentation of invoice. 208 209 210 15. Security The Company shall provide on signing this Agreement an irrevocable and unconditional security in a form and amount as agreed between the parties. 211 212 213 If required by the Contractor and also in the event that initially no security is requested, the Company shall 214
4

PART II
provide securityor further security in a form and amountas agreed between the parties for all or part of any amount which may be or become due under this Agreement. Such security shall be given on one or more 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 (d) Neither the Contractor nor its servants, agents or sub-contractors shall have any liabilityto the Companyfor loss or damage of whats oever nature sustained bythe Vessel, whether or not the same is due to breach of contract, negligence or any other fault on the part of the Contractor, its servants, agents or sub-contractors. 236 237 238 239 240 241 242
(li) any consequential loss or damage for any reason whatsoever, whether or not the s ame is due to any breach of contract, negligence or any other fault on the part of either party, their servants, agents or sub-contractors, 243 244 (f) Each Party shall indemnify, protect, defend and hold harmless the other Party from and against all claims, costs, expenses, actions, proceedings, suits, demands and liabilities whatsoever arising out of or in connection with such loss, damage, personal injury or death; however the Contractor's  liability  shall not exceed the amount paid to Contractor  for services performed on the project. For the avoidance of doubt, this Article 16 shall also apply to any such claims by any third party. (g) Where personal injury, death, or loss of or damage to property of third parties is the result of joint negligence, gross negligence, or willful misconduct of the Company or the Contractor, the indemnitor's duty of indemnification shall be in proportion to the Party's allocable share of joint negligence, gross negligence, or willful misconduct. If either the Company or the Contractor is found to be strictly liable under law, the other Party's duty of indemnification will be in the same proportion than its own negligence, gross negligence, or willful misconduct, which contributed to the personal injury, death, or loss of or damage to property for which one or more members of the other Party is strictly liable, as determined by law. (h) Neither Party's indemnity obligation is limited by the amount of insurance required under this Agreement or carried by the Party or otherwise. If it is judicially or statutorily determined that any insurance required hereunder, or the indemnities  voluntarily  and mutually  as sumed hereunder, exceed the maximum monetary limits permitted under applicable law, it is agreed that said insurance requirements or indemnities  shall automatically  be amended to conform to the maximum monetary limits permitted under such law.
17. Himalaya Clause
All exceptions, exemptions, defences, immunities, limitations of liability, indemnities, privileges and conditions granted or provided by this Agreement for the benefit of the Contractor or the Companyshall also applyto and be for the benefit of their respective sub-contractors, operators, the Vessel's owners (if the Company

5

249 250 251 252 253 254 255
18. Lien
256 Without prejudice to any other rights which the Contractor may have, whether in rem or in personam, the 257 Contractorshall be entitled to exercise a possessorylien upon the Vessel in respect of any amount how soever or   258 whatsoever due to the Contractor under this Agreement and shall for the purpose of exercising such possessory 259 lien be entitled to take and/or keep possession of the Vessel, provided always that the Companyshall pay to 260 the Contractor all reasonable costs and expenses howsoever or whats oever incurred by or on behalf of the 261 Contractor in exercising or attempting or preparing to exercise such lien. 262
263 264 265 hereunder shall be notified to the party against whom such claim is made, within twelve ( 12 ) months of completion or termination of the Services hereunder, or within twelve (12) months of any claim by a  third party, whicheveris later. Any suits hall be brought within twelve (12) months of the notification to the party against 266 267 268 269 270 27.1 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 "This Agreementshall be governed by and construed in accordance with English law and any dispute arising out of or in connection with this Agreement chall be referred to arbitration in London in a ccordance with the Arbitration Act  1996 or any statutory modification or re-enactment thereof save to the extent necessary lo give effect to the provisions of this Clause. 297 298 299 300 The reference shall be to a sole arbitrator ("Arbitrator"), to be solected  by the firet party claiming arbitration from the persons currently on the Panel of Lloyd's Salvage Arbitrators with a right of appeal from an award made by the Arbitrator to either party by notice in writing to the other within twenty-eight (28) days of the date of publication of the original Arbitrator's Award. 301 302 303 The Arbitrator on appeal shall be the person currentlyacting as Lloyd's Appeal Arbitrator, 304 No-suitshall be brought before another Tribunal, or in another urisdiction, except that elther party shall have 305
6

is the demise/bareboatcharterer), masters, officers and crews and to and be for the benefit of all bodies corporate parent of, subsidiaryto, affiliated with or under the same management as either of them, as well as all directors, officers, servants and agents of the same and to and be for the benefit of all parties performing Services within the scope of this Agreement for on behalf of the Contractor or the Companyas servants. agents and sub-contractors of such parties. The Contractor or the Company shall be deemed to be acting as agent or trustee of and for the benefit of all such persons, entitles and Vessels set forth above but only for the limited purpose of contracting for the extension of such benefits to such persons, bodies and Vessels.
306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 (or such other sum as the parties mayagree) the arbitration s hall be conducted in accordance with the Shortened Arbitration Procedure of the Society of Maritime Arbitrators, Inc. current at the time when the arbitration proceedings are commenced. 325 326
(Note: The parties should be aware that the mediation process may not necessarily interrupt time limits.) 354
7

WRECKHIRE  2010 - International Wreck Removal and Marine Services Agreement (Daily Hire)

8
WRECKHIRE  2010 - International Wreck Removal and Marine Services Agreement (Daily Hire)
PART II

ANNEX IV: RATES
ANNEX IV: RATES

NOTES
l. ll. III. IV. V. Personnel day rates are based on a 12 hour working period. Personnel and equipment day rates will be charged at the rates indicated + 25% uplift. The applicable standby rate will be 50% of the daily rate (plus uplift). All third party resources, such as but not limited to, personnel, crafts and rental equipment will be charged at cost plus 15% uplift. All Out of Pocket expenses, such as but not limited to, boarding & lodging, transport and equipment repairs/replacement will be charged at cost plus 15% Personnel & Equipment are billed at 100% of their daily rate during mobilization and demobilization.
ER
Columbia River Corpus Christie Delaware Bay
Hampton Rds.
Houston-Galveston
Lake Michigan Long Island Sound Los Angeles-Long
Lower Mississippi
COTP ZONES
North Carolina Northern New England Ohio Valley Port Arthur Prince William Sound
San Francisco San Juan Sault Ste. Marie
England South East Alaska (Juneau) St. Petersburg Upper Mississippi
l. Initiation of Emergency Response Mobilization: . EMERGENCY NUMBERS: > 24-HOUR EMERGENCY NUMBER: +1 305 209 6020 > SECONDARY EMERGENCY NUMBERS: 1.    +1 855 269 5620 2. +31 255 56 2666 3. +1 305 342 7417 4. +1 786 338 8836 5. +1 786 449 0606 6.    +1 305 322 9202 . The person initiating the response shall provide SVITZER with: His/hers Name and Title o o [VO] Representative name, address and telephone number Vessel Name o Coordinates of location of incident (latitude/longitude) o Nature and Scope of incident o Approximate time incident occurred o Any other pertinent information relating to the incident o
II.
Notice: Official Contacts:
SVITZER Salvage Americas, Inc. Att. Mr. Maurice Denis Address: 3470 NW 82nd Ave., Ste. 650 Doral, FL 33122 Email: maurice.denis@svitzer.com