Company: CMDB
Filing Date: 2025-04-17
Form Type: 20FR12B/A
Source: 0001140361-25-014307
Chunk: 292

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-17
Form: 20FR12B/A
Chunk 292
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 subject to a termination fee, by providing written notice to Costamare Shipping or Costamare Services, as applicable, at least 12 months before the end of the subsequent one-year term. The termination fee is equal to (a) the number of full years remaining prior to December 31, 2035, times (b) the aggregate fees due and payable to Costamare Shipping or Costamare Services, as applicable, during the 12-month period ending on the date of termination (without taking into account any reduction in fees under the CMRE Framework Agreement to reflect that certain obligations have been delegated to a sub-manager or a sub-provider, as applicable); provided that the termination fee will always be at least two times the aggregate fees over the 12-month period described above.

Management fees charged by Costamare Shipping in the years ended December 31, 2023 and 2024, amounted to $17,085 and $14,966, respectively, and are included in Management and agency fees-related parties in the accompanying predecessor combined carve-out statements of operations. The amounts received by Costamare Shipping include amounts paid to third-party managers of $5,669 and $4,155 for the years ended December 31, 2023 and 2024, respectively. In addition, Costamare Shipping and Costamare Services charged (i) $2,429 for the year ended December 31, 2024 ($2,112 for the year ended December 31, 2023), representing a fee of 1.25% on all gross revenues, as provided in the CMRE Framework Agreement and the CMRE Services Agreement, as applicable, which is separately reflected in Voyage expenses-related parties in the accompanying predecessor combined carve-out statements of operations, (ii) $949, representing the pro-rata basis portion of the annual fee of $2,667, which is included in General and administrative expenses – related parties in the accompanying predecessor combined carve-out statements of operations for the year ended December 31, 2024 ($1,048 for the year ended December 31, 2023) and (iii) $2,991, representing the pro-rata basis portion of the fair value of 598,400 shares of Costamare, which is included in General and administrative expenses – related parties in the accompanying predecessor combined carve-out statements of operations for the year ended December 31, 2024 ($2,299 for the year ended December 31, 2023).

Furthermore,