Exhibit 4.1

    PLACEMENT AGENCY AGREEMENT

    

    

    April 5, 2021

    

    

    
      Castor Maritime Inc.

      223 Christodoulou Chatzipavlou Street

      Hawaii Royal Gardens

    

    3036 Limassol, Cyprus

    Attention: Petros Panagiotidis

                     Chairman, Chief Executive Officer and Chief Financial Officer

    

    

    Dear Mr. Panagiotidis:

     

    This agreement (the “Agreement”) constitutes
      the agreement between Maxim Group LLC (the “Placement Agent”) and Castor Maritime Inc., a company incorporated under the laws of the Republic of the Marshall
      Islands (the “Company”), pursuant to which the Placement Agent shall serve as the exclusive placement agent for the Company, on a “reasonable
      best efforts” basis, in connection with the proposed placement (the “Placement”) of a to be determined number of registered common shares of the Company, par value $0.001 per share (the “Common Shares”, with the Common Shares offered in the Placement being referred to as the “Shares”) and registered warrants, each entitling the holder thereof to purchase one Common Share (the “Warrants”, and collectively with the Shares, the “Securities”).  The terms of the Placement and the Securities shall be
      mutually agreed upon by the Company and the purchasers (each, a “Purchaser” and collectively, the “Purchasers”) and nothing herein constitutes that the Placement Agent would have the power or authority to bind the Company or any Purchaser or an obligation for the Company to issue any Securities or
      complete the Placement.  This Agreement and the documents executed and delivered by the Company and the Purchasers in connection with the Placement, including but not limited to the Purchase Agreement (as defined below), the form of Warrant and this
      Agreement shall be collectively referred to herein as the “Transaction Documents.”  The date of the closing of the Placement shall be referred to herein as the “Closing Date.”  The Company expressly acknowledges and agrees that the Placement Agent’s obligations hereunder are on a reasonable best efforts basis only and that the execution of this
      Agreement does not constitute a commitment by the Placement Agent to purchase the Securities and does not ensure the successful placement of the Securities or any portion thereof or the success of the Placement Agent with respect to securing any
      other financing on behalf of the Company. Following the prior written consent of the Company, the Placement Agent may retain other brokers or dealers to act as sub-agents or selected-dealers on its behalf in connection with the Placement.  The sale
      of the Securities to any Purchaser will be evidenced by a securities purchase agreement (the “Purchase Agreement”) between the Company and such Purchaser in a form reasonably acceptable to the Company and the Placement Agent.  Capitalized terms that are not otherwise defined
      herein have the meanings given to such terms in the Purchase Agreement.  Prior to the signing of any Purchase Agreement, officers of the Company will be available to answer inquiries from prospective Purchasers.

     

    SECTION 1.                   REPRESENTATIONS AND WARRANTIES OF THE COMPANY; COVENANTS OF THE COMPANY.

    

    

    A.         Representations of the Company.  Each of the representations and warranties (together with any related disclosure schedules thereto) and covenants
          made by the Company to the Purchasers in the Purchase Agreement in connection with the Placement is hereby incorporated herein by reference into this Agreement (as though fully restated herein) and is, as of the date of this Agreement and as of
          the Closing Date, hereby made to, and in favor of, the Placement Agent. In addition to the foregoing, the Company represents and warrants that:

    
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    1.          The Company has prepared and filed with the Commission an automatic shelf registration statement on Form F-3 (Registration No. 333-254977) for the registration under the Securities Act of 1933, as amended
          (the “Securities Act”), of the Securities, which registration statement, as so amended (including post-effective amendments, if any) became effective on April
          1, 2021.  At the time of such filings, the Company met the requirements of Form F-3 under the Securities Act, including General Instruction I.B.1 and General Instruction I.C. Such registration statements meet the requirements set forth in Rule
          415(a)(1)(x) under the Securities Act and complies with said Rule. The Company will file with the Commission pursuant to Rule 424(b) under the Securities Act, and the rules and regulations (the “Rules and Regulations”) of the Commission promulgated thereunder, a supplement to the form of prospectus included in such registration statements relating to the placement of the Securities and the
          plan of distribution thereof and has advised the Placement Agent of all further information (financial and other) with respect to the Company required to be set forth therein. Such registration statement, including the exhibits thereto, as
          amended at the date of this Agreement, is hereinafter called the “Registration Statement”; such prospectus in the form in which it appears in the Registration
          Statement is hereinafter called the “Base Prospectus”; and the supplemented form of prospectus, in the form in which it will be filed with the Commission
          pursuant to Rule 424(b) (including the Base Prospectus as so supplemented) is hereinafter called the “Prospectus Supplement.” Any reference in this Agreement
          to the Registration Statement, the Base Prospectus or the Prospectus Supplement shall be deemed to refer to and include the documents incorporated by reference therein (the “Incorporated Documents”) pursuant to Item 6 of Form F-3 which were filed under the Exchange Act on or before the date of this Agreement, or the issue date of the Base Prospectus or the Prospectus Supplement, as the
          case may be; and any reference in this Agreement to the terms “amend,” “amendment” or “supplement” with respect to the Registration Statement, the Base Prospectus or the Prospectus Supplement shall be deemed to refer to and include the filing of
          any document under the Exchange Act after the date of this Agreement, or the issue date of the Base Prospectus or the Prospectus Supplement, as the case may be, deemed to be incorporated therein by reference. All references in this Agreement to
          financial statements and schedules and other information which is “contained,” “included,” “described,” “referenced,” “set forth” or “stated” in the Registration Statement, the Base Prospectus or the Prospectus Supplement (and all other
          references of like import) shall be deemed to mean and include all such financial statements and schedules and other information which is or is deemed to be incorporated by reference in the Registration Statement, the Base Prospectus or the
          Prospectus Supplement, as the case may be. No stop order suspending the effectiveness of the Registration Statement or the use of the Base Prospectus or the Prospectus Supplement has been issued, and no proceeding for any such purpose is pending
          or has been initiated or, to the Company's knowledge, is threatened by the Commission. For purposes of this Agreement, “free writing prospectus” has the
          meaning set forth in Rule 405 under the Securities Act and the “Time of Sale Prospectus” means the preliminary prospectus, if any, together with the free
          writing prospectuses, if any, used in connection with the Placement, including any documents incorporated by reference therein.

     

    2.          The
          Registration Statement (and any further documents to be filed with the Commission) contains all exhibits and schedules as required by the Securities Act. Each of the Registration Statement and any post-effective amendment thereto, at the time it
          became effective, complied in all material respects with the Securities Act and the Exchange Act and the applicable Rules and Regulations and did not and, as amended or supplemented, if applicable, will not, contain any untrue statement of a
          material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. The Base Prospectus, the Time of Sale Prospectus and the Prospectus Supplement, each as of its respective
          date, comply in all material respects with the Securities Act and the Exchange Act and the applicable Rules and Regulations. Each of the Base Prospectus, the Time of Sale Prospectus and the Prospectus Supplement, as amended or supplemented, did
          not and will not contain as of the date thereof any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
          misleading. The Incorporated Documents, when they were filed with the Commission, conformed in all material

    
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    respects to the requirements of the Exchange Act and the applicable Rules and Regulations, and none of such documents, when they were filed with the
      Commission, contained any untrue statement of a material fact or omitted to state a material fact necessary to make the statements therein (with respect to Incorporated Documents incorporated by reference in the Base Prospectus or Prospectus
      Supplement), in the light of the circumstances under which they were made not misleading; and any further documents so filed and incorporated by reference in the Base Prospectus, the Time of Sale Prospectus or Prospectus Supplement, when such
      documents are filed with the Commission, will conform in all material respects to the requirements of the Exchange Act and the applicable Rules and Regulations, as applicable, and will not contain any untrue statement of a material fact or omit to
      state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. No post-effective amendment to the Registration Statement reflecting any facts or events arising after the
      date thereof which represent, individually or in the aggregate, a fundamental change in the information set forth therein is required to be filed with the Commission. There are no documents required to be filed with the Commission in connection with
      the transaction contemplated hereby that (x) have not been filed as required pursuant to the Securities Act or (y) will not be filed within the requisite time period. There are no contracts or other documents required to be described in the Base
      Prospectus, the Time of Sale Prospectus or Prospectus Supplement, or to be filed as exhibits or schedules to the Registration Statement, which (x) have not been described or filed as required or (y) will not be filed within the requisite time period.

    

    

    3.          The Company is eligible to use free writing prospectuses in connection with the Placement pursuant to Rules 164 and 433 under the Securities Act. Any free writing prospectus that the Company is required to
          file pursuant to Rule 433(d) under the Securities Act has been, or will be, filed with the Commission in accordance with the requirements of the Securities Act and the applicable rules and regulations of the Commission thereunder. Each free
          writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act or that was prepared by or behalf of or used by the Company complies or will comply in all material respects with the
          requirements of the Securities Act and the applicable rules and regulations of the Commission thereunder. The Company will not, without the prior consent of the Placement Agent, prepare, use or refer to, any free writing prospectus.

    

    

    4.          There are no affiliations with any FINRA member firm among the Company's officers, directors or, to the knowledge of the Company, any five percent (5.0%) or greater stockholder of the Company, except as set forth in the
          Registration Statement and SEC Reports.

    

    

    B.         Covenants of the Company. The Company
          has delivered, or will as promptly as practicable deliver, to the Placement Agent complete conformed copies of the Registration Statement and of each consent and certificate of experts, as applicable, filed as a part thereof, and conformed copies
          of the Registration Statement (without exhibits), the Base Prospectus, the Time of Sale Prospectus and the Prospectus Supplement, as amended or supplemented, in such quantities and at such places as the Placement Agent reasonably requests.
          Neither the Company nor any of its directors and officers has distributed and none of them will distribute, prior to the Closing Date, any offering material in connection with the offering and sale of the Securities pursuant to the Placement
          other than the Base Prospectus, the Time of Sale Prospectus, the Prospectus Supplement, the Registration Statement, copies of the documents incorporated by reference therein and any other materials permitted by the Securities Act.

     

    SECTION 2.      REPRESENTATIONS AND COVENANTS OF THE PLACEMENT AGENT. The Placement Agent  represents and warrants that it (i) is a member in good standing of FINRA, (ii) is registered as a
        broker/dealer under the Exchange Act, (iii) is licensed as a broker/dealer under the laws of the States applicable to the offers and sales of the Securities by such Placement Agent, (iv) is and will be a body corporate validly existing under the
        laws of its place of incorporation, and (v) has full power and authority to enter into and perform its obligations under this Agreement.  The Placement Agent will

    
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    immediately notify the Company in writing of any change in its status as such. The Placement Agent covenants (i) that it will use its reasonable best
      efforts to conduct the Placement hereunder in compliance with the provisions of this Agreement and the requirements of applicable law and (ii) that it will not take any action that would result in the Company being required to file with the
      Commission under Rule 433(d) a free writing prospectus prepared by or on behalf of such Placement Agent that otherwise would not be required to be filed by the Company thereunder, but for the action of the Placement Agent.  

     

    SECTION 3.      COMPENSATION.  In consideration of the services to be provided for hereunder, the Company
          shall pay to the Placement Agent or their respective designees their pro rata portion (based on the Securities placed) of the following compensation with
          respect to the Securities which they are placing:

    

    

    A.          A cash fee (the “Cash Fee”) equal to an aggregate of
            six and one half percent (6.5%) of the aggregate gross proceeds raised in the Placement.  The Cash Fee shall be paid at the Closing of the Placement.

    

    

    B.          Subject to compliance with FINRA Rule 5110(f)(2)(D), the Company also agrees, in case of Closing of the Placement, to reimburse the Placement Agent for all travel and other out-of-pocket expenses, including the reasonable
          fees, costs and disbursements of its legal counsel, in an amount not to exceed an aggregate of $50,000.00. The Company will reimburse Placement Agent directly out of the Closing of the Placement.

    

    

    C.          The Placement Agent reserves the right to reduce any item of its compensation or adjust the terms thereof as specified herein in the event that a determination shall be made by FINRA to the effect that
          such Placement Agent’s aggregate compensation is in excess of FINRA Rules or that the terms thereof require adjustment.

     

    SECTION 4.      INDEMNIFICATION. The Company agrees to the indemnification and other agreements set forth in the Indemnification Provisions (the “Indemnification”) attached hereto as Addendum A, the provisions of which are incorporated herein by reference and shall
        survive the termination or expiration of this Agreement.

     

    SECTION 5.      ENGAGEMENT TERM. The Placement Agent’s engagement hereunder shall be until the earlier of (i) the final closing date of the Placement and (ii) the date a party terminates the
        engagement according to the terms of the next sentence (such date, the “Termination Date” and the period of time during which this Agreement remains in effect
        is referred to herein as the “Term”).  If within four  (4) months following a closing of the Placement or termination, the Company completes any financing of
        equity, equity-linked or debt or other capital raising activity of the Company (other than the exercise by any person or entity of any options, warrants or other convertible securities) with any of the Purchasers in this Placement, then the Company
        will pay Maxim upon the closing of such financing the compensation set forth in Section 3 herein. Notwithstanding anything to the contrary contained herein, the provisions concerning confidentiality, indemnification and contribution contained
        herein and the Company’s obligations contained in the Indemnification Provisions will survive any expiration or termination of this Agreement. The Placement Agent each agree, severally and not jointly, not to use any confidential information
        concerning the Company provided to the Placement Agent by the Company for any purposes other than those contemplated under this Agreement.

     

      

    SECTION 6.      PLACEMENT AGENT INFORMATION. The Company agrees that any information or advice rendered by the Placement Agent in connection with this engagement is for the confidential use of
        the Company only in their evaluation of the Placement and, except as otherwise required

    
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    by law, the Company will not disclose or otherwise refer to the advice or information in any manner without the Placement Agent’s prior written consent.

     

    SECTION 7.      NO FIDUCIARY RELATIONSHIP. This Agreement does not create, and shall not be construed as creating rights enforceable by any person or entity not a party hereto, except those
        entitled hereto by virtue of the Indemnification Provisions hereof. The Company acknowledges and agrees that the Placement Agent is not and shall not be construed as a fiduciary of the Company and shall have no duties or liabilities to the equity
        holders or the creditors of the Company or any other person by virtue of this Agreement or the retention of such Placement Agent hereunder, all of which are hereby expressly waived.

    

    

    SECTION 8.      CLOSING. The obligations of the Placement Agent, and the closing of the sale of the Securities hereunder are subject to the accuracy, when made and on the Closing Date, of the
        representations and warranties on the part of the Company and its Subsidiaries contained herein and in the Purchase Agreement, to the accuracy of the statements of the Company and its Subsidiaries made in any certificates pursuant to the provisions
        hereof, to the performance by the Company and its Subsidiaries of their obligations hereunder, and to each of the following additional terms and conditions, except as otherwise disclosed to and acknowledged and waived by the Placement Agent by the
        Company:

     

    A.         No stop
          order suspending the effectiveness of the Registration Statement shall have been issued and no proceedings for that purpose shall have been initiated or threatened by the Commission, and any request for additional information on the part of the
          Commission (to be included in the Registration Statement, the Base Prospectus, the Prospectus Supplement or otherwise) shall have been complied with to the reasonable satisfaction of the Placement Agent. Any filings required to be made by the
          Company in connection with the Placement shall have been timely filed with the Commission.

    

    

    B.         The
          Placement Agent shall not have discovered and disclosed to the Company on or prior to the Closing Date that the Registration Statement, the Base Prospectus, the Prospectus Supplement or any amendment or supplement thereto contains an untrue
          statement of a fact which, in the opinion of counsel for the Placement Agent, is material or omits to state any fact which, in the opinion of such counsel, is material and is required to be stated therein or is necessary to make the statements
          therein not misleading.

    

    

    C.         All
          corporate proceedings and other legal matters incident to the authorization, form, execution, delivery and validity of each of this Agreement, the Securities, the Registration Statement, the Base Prospectus and the Prospectus Supplement and all
          other legal matters relating to this Agreement and the transactions contemplated hereby shall be reasonably satisfactory in all material respects to counsel for the Placement Agent, and the Company shall have furnished to such counsel all
          documents and information that they may reasonably request to enable them to pass upon such matters.

    

    

    D.         The
          Placement Agent shall have received from outside counsel to the Company such counsel’s written opinions, addressed to the Placement Agent and the Purchasers and dated as of the Closing Date, in form and substance reasonably satisfactory to the
          Placement Agent.

    

    

    E.          On the
          Closing Date, the Placement Agent shall have received a “comfort” letter from Deloitte Certified Public Accountants S.A. (the Company’s independent registered
            accounting firm) (“Deloitte”) as of each such date, addressed to each of the Placement Agent and in form and substance satisfactory in all respects to the Placement Agent and Placement
          Agent’s counsel.

    

    

    F.          On the
          Closing Date, Placement Agent shall have received a certificate of the chief financial officer of the Company, dated, as applicable, as of the date of such Closing, to the effect that, as of the date of this Agreement and as of the applicable
          date, the representations and warranties of the

    
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    Company contained herein and in the Purchase Agreement were and are accurate in all material respects, except for such changes as are contemplated by
      this Agreement and except as to representations and warranties that were expressly limited to a state of facts existing at a time prior to the applicable Closing Date, and that, as of the applicable date, the obligations to be performed by the
      Company hereunder on or prior thereto have been fully performed in all material respects.  Such officer shall also provide a customary certification as to such accounting or financial matters that are included or incorporated by reference in the
      Registration Statement or the Prospectus Supplement that Deloitte is unable to provide assurances on in the letter contemplated by Section 8(E) above.

    

    

    G.          On the
          Closing Date, Placement Agent shall have received a certificate of the Secretary of the Company, dated, as applicable, as of the date of such Closing, certifying to the organizational documents, good standing in the state of incorporation of the
          Company and board resolutions relating to the Placement of the Securities from the Company.

    

    

    H.          Neither
          the Company nor any of its Subsidiaries (i) shall have sustained since the date of the latest audited financial statements included or incorporated by reference in the Registration Statement, the Base Prospectus and the Prospectus Supplement, any
          loss or interference with its business from fire, explosion, flood, terrorist act or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth in
          or contemplated by the Registration Statement, the Base Prospectus and the Prospectus Supplement, (ii) since such date there shall not have been any change in the capital stock or long-term debt of the Company or any of its Subsidiaries or any
          change, or any development involving a prospective change, in or affecting the business, general affairs, management, financial position, stockholders' equity, results of operations or prospects of the Company and its Subsidiaries, otherwise than
          as set forth in or contemplated by the Registration Statement, the Base Prospectus and the Prospectus Supplement, and (iii) since such date there shall not have been any new or renewed inquiries by the Commission, FINRA or any other regulatory
          body regarding the Company, the effect of which, in any such case described in clause (i), (ii) or (iii), is, in the judgment of the Placement Agent, so material and adverse as to make it impracticable or inadvisable to proceed with the sale or
          delivery of the Securities on the terms and in the manner contemplated by the Base Prospectus, Time of Sale Prospectus and Prospectus Supplement.

    

    

    I.          The
          Common Shares are registered under the Exchange Act and, as of the Closing Date, the Securities shall, as is required by such Trading Market or the Transaction Documents, be listed and admitted and authorized for trading on the Trading Market or
          other applicable U.S. national exchange and satisfactory evidence of such action shall have been provided to the Placement Agent. The Company shall have taken no action designed to, or likely to have the effect of terminating the registration of
          the Common Shares under the Exchange Act or delisting or suspending from trading the Common Shares from the Trading Market or other applicable U.S. national exchange, nor has the Company received any information suggesting that the Commission or
          the Trading Market or other U.S. applicable national exchange is contemplating terminating such registration or listing.

    

    

    J.          No
          action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental agency or body which would, as of the Closing Date, prevent the issuance or sale of the Securities or materially
          and adversely affect or potentially and adversely affect the business or operations of the Company; and no injunction, restraining order or order of any other nature by any federal or state court of competent jurisdiction shall have been issued
          as of the Closing Date which would prevent the issuance or sale of the Securities or materially and adversely affect or potentially and adversely affect the business or operations of the Company.

    
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    K.          The
          Company shall have prepared and filed with the Commission a Form 6-K with respect to the Placement, including as an exhibit thereto this Agreement, the form of Purchase Agreement and the form of Warrant.

    

    

    L.          The
          Company shall have entered into a Purchase Agreement with each of the Purchasers and such agreements shall be in full force and effect and shall contain representations, warranties and covenants of the Company as agreed between the Company and
          the Purchasers.

    

    

    M.          FINRA
          shall have raised no objection to the fairness and reasonableness of the terms and arrangements of this Agreement. In addition, the Company shall, if requested by the Placement Agent, make or authorize Placement Agent’s counsel to make on the
          Company’s behalf, any filing with the FINRA Corporate Financing Department pursuant to FINRA Rule 5110 with respect to the Placement and pay all filing fees required in connection therewith.

    

    

    N.          Prior to
          the Closing Date, the Company shall have furnished to the Placement Agent such further information, certificates and documents as the Placement Agent may reasonably request.

     

    If any of the conditions specified in this Section 8 shall not have been fulfilled when and as required by this
      Agreement, or if any of the certificates, opinions, written statements or letters furnished to the Placement Agent or to Placement Agent’s counsel pursuant to this Section 8 shall not be reasonably satisfactory in form and substance to the Placement
      Agent and to Placement Agent’s counsel, all obligations of the Placement Agent hereunder may be cancelled by the Placement Agent at, or at any time prior to, the consummation of the Closing. Notice of such cancellation shall be given to the Company
      in writing or orally. Any such oral notice shall be confirmed promptly thereafter in writing.

     

    SECTION 9.       RESERVED.

     

    SECTION 10.    GOVERNING LAW; AGENT FOR SERVICE OF PROCESS, ETC. This Agreement will be governed by, and construed in accordance with, the laws of the State of New York applicable to
        agreements made and to be performed entirely in such State, without regard to the conflicts of laws principles thereof. This Agreement may not be assigned by either party without the prior written consent of the other party. This Agreement shall be
        binding upon and inure to the benefit of the parties hereto, and their respective successors and permitted assigns. Any right to trial by jury with respect to any dispute arising under this Agreement or any transaction or conduct in connection
        herewith is waived. Any dispute arising under this Agreement may be brought into the courts of the State of New York or into the Federal Court located in New York, New York and, by execution and delivery of this Agreement, the Company hereby
        accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of aforesaid courts. Each party hereto hereby irrevocably waives personal service of process and consents to process being served in any such suit,
        action or proceeding by delivering a copy thereof via overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient
        service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. The Company agrees that a final judgment in any such action, proceeding or counterclaim
        brought in any such court shall be conclusive and binding upon the Company and may be enforced in any other courts to the jurisdiction of which the Company is or may be subject, by suit upon such judgment.  If either party shall commence an action
        or proceeding to enforce any provisions of a Transaction Document, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorney's fees and other costs and expenses incurred with the investigation,
        preparation and prosecution of such action or proceeding.  In addition to and without limiting the foregoing, the Company has confirms that it has appointed
        Seward & Kissel LLP, One Battery Park Plaza, New York, New York 10004, as its authorized agent (the “Authorized Agent”) upon whom process may be served in

    
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    any suit, action or proceeding arising out of or based upon the this Agreement or the Transaction Documents or the transactions contemplated herein which
      may be instituted in any New York federal or state court, by the Agent, the directors, officers, partners, employees and agents of the Agents and each affiliate of the Agent, and expressly accept the non-exclusive jurisdiction of any such court in
      respect of any such suit, action or proceeding. The Company hereby represents and warrants that the Authorized Agent has accepted such appointment and has agreed to act as said agent for service of process, and the Company agrees to take any and all
      action, including the filing of any and all documents that may be necessary to continue such appointment in full force and effect as aforesaid. The Company hereby authorizes and directs the Authorized Agent to accept such service. Service of process
      upon the Authorized Agent shall be deemed, in every respect, effective service of process upon the Company. If the Authorized Agent shall cease to act as agent for service of process, the Company shall appoint, without unreasonable delay, another
      such agent in the United States, and notify you of such appointment. Notwithstanding the foregoing, any action arising out of or based upon this Agreement may be instituted by the Agent, the directors, officers, partners, employees and agents of the
      Agent and each respective affiliate of the Agent, in any court of competent jurisdiction in the Republic of the Marshall Islands.  This paragraph shall survive any termination of this Agreement, in whole or in part.

      

    SECTION 11.    ENTIRE AGREEMENT/MISC. This Agreement (including the attached Indemnification Provisions) embodies the entire agreement and understanding between the parties hereto, and
        supersedes all prior agreements and understandings, relating to the subject matter hereof. If any provision of this Agreement is determined to be invalid or unenforceable in any respect, such determination will not affect such provision in any
        other respect or any other provision of this Agreement, which will remain in full force and effect. This Agreement may not be amended or otherwise modified or waived except by an instrument in writing signed by both Placement Agent and the Company.
        The representations, warranties, agreements and covenants contained herein shall survive the closing of the Placement and delivery of the Securities. This Agreement may be executed in two or more counterparts, all of which when taken together shall
        be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any
        signature is delivered by facsimile transmission or a .pdf format file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such
        facsimile or .pdf signature page were an original thereof.

     

    SECTION 12.    CONFIDENTIALITY.  The Placement Agent (i) will keep the
          Confidential Information (as such term is defined below) confidential and will not (except as required by applicable law or stock exchange requirement, regulation or legal process (“Legal Requirement”)), without the Company’s prior written consent, disclose to any person any Confidential Information, and (ii) will not use any Confidential Information other than in connection with the Placement. 
          The Placement Agent further agree, severally and not jointly, to disclose the Confidential Information only to its Representatives (as such term is defined below) who need to know the Confidential Information for the purpose of the Placement, and
          who are informed by the Placement Agent of the confidential nature of the Confidential Information. The term “Confidential Information” shall mean, all
          confidential, proprietary and non-public information (whether written, oral or electronic communications) furnished by the Company to a Placement Agent or its Representatives in connection with such Placement Agent’s evaluation of the Placement.
          The term “Confidential Information” will not, however, include information which (i) is or becomes publicly available other than as a result of a disclosure by a Placement Agent or its Representatives in violation of this Agreement, (ii) is or
          becomes available to a Placement Agent or any of its Representatives on a non-confidential basis from a third-party, (iii) is known to a Placement Agent or any of its Representatives prior to disclosure by the Company or any of its
          Representatives, or (iv) is or has been independently developed by a Placement Agent and/or the Representatives without use of any Confidential Information furnished to it by the Company. The term “Representatives” shall mean the Placement
          Agent’s directors, board

    
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    committees, officers, employees, financial advisors, attorneys and accountants. This provision shall be in full force until the
      earlier of (a) the date that the Confidential Information ceases to be confidential and (b) two years from the date hereof.  Notwithstanding any of the foregoing, in the event that the Placement Agent or any of their respective Representatives are
      required by Legal Requirement to disclose any of the Confidential Information, such Placement Agent and their respective Representatives will furnish only that portion of the Confidential Information which such Placement Agent or their respective
      Representative, as applicable, is required to disclose by Legal Requirement as advised by counsel, and will use reasonable efforts to obtain reliable assurance that confidential treatment will be accorded the Confidential Information so disclosed.

    SECTION 13.  NOTICES. Any and all notices or other communications or deliveries required or
        permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is sent to the email address specified on the signature pages attached
        hereto prior to 6:30 p.m. (New York City time) on a business day, (b) the next business day after the date of transmission, if such notice or communication is sent to the email address on the signature pages attached hereto on a day that is not a
        business day or later than 6:30 p.m. (New York City time) on any business day, (c) the third business day following the date of mailing, if sent by U.S. internationally recognized air courier service, or (d) upon actual receipt by the party to whom
        such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages hereto.

    

    

    SECTION 14.    PRESS ANNOUNCEMENTS. The Company agrees that the Placement Agent shall, from and
          after any Closing, have the right to reference the Placement and the Placement Agent’ role in connection therewith in the Placement Agent’ marketing materials and on its website and to place advertisements in financial and other newspapers and
          journals, in each case at its own expense.

     

    

    

    

    

    [The remainder of this page has been intentionally left blank.]

    	
             

          


    

    

    
      9

      
        


    

    Please confirm that the foregoing correctly sets forth our agreement by signing and returning to Maxim the enclosed copy of this
      Agreement.

     

    	
             

          	
            Very truly yours,

          
	
             

          	
             

          
	
             

          	
            MAXIM GROUP LLC

             

          
	
             

          	
             

          
	
             

          	
            By: 

          	 /s/ Clifford A. Teller
	
             

          	
             

          	
            Name: Clifford A. Teller

          
	
             

          	
             

          	
            Title:    Executive Managing Director,

            Investment Banking

          
	
             

          	
             

          
	
             

          	
            Address for notice:

          
	
             

          	
            405 Lexington Avenue

          
	
             

          	
            New York, NY 10174

          
	
             

          	
            Attention: James Siegel, General Counsel

            Email: jsiegel@maximgrp.com

          


    

    

    Accepted and Agreed to as of

    the date first written above:

     

    	
            CASTOR MARITIME INC.

             

          
	
             

          	 
	
            By: 

          	 /s/ Petros Panagiotidis	
             

          
	
             

          	
            Name: Petros Panagiotidis

          	
             

          
	
             

          	
            Title:  Chief Executive Officer

          	
             

          


     

    Address for notice:

    Castor Maritime Inc.

    
      223 Christodoulou Chatzipavlou Street

      Hawaii Royal Gardens

    

    3036 Limassol, Cyprus

    Email: petrospan@castormaritime.com

    

    

    

    

    [Signature Page to April 5, 2021 Placement Agency Agreement Between

    Maxim Group LLC and Castor Maritime Inc.]

    

    

    
      
        


    

    
    ADDENDUM A

    INDEMNIFICATION PROVISIONS

     

    In connection with the engagement of Maxim Group LLC (the “Placement Agent”) by Castor Maritime Inc. (the “Company”) pursuant to a
      placement agency agreement dated as of the date hereof, between the Company and the Placement Agent, as it may be amended from time to time in writing (the “Agreement”), the Company hereby agrees as follows:

    

    

    	

          	1.	
            To the extent permitted by law, the Company will indemnify the Placement Agent and its affiliates, directors, officers, employees and controlling persons (within the meaning of
              Section 15 of the Securities Act of 1933, as amended, or Section 20 of the Securities Exchange Act of 1934) against all losses, claims, damages, expenses and liabilities, as the same are incurred (including the reasonable fees and expenses of
              counsel), relating to or arising out of its activities hereunder or pursuant to the Agreement, except, with regard to the Placement Agent, to the extent that any losses, claims, damages, expenses or liabilities (or actions in respect thereof)
              are found in a final judgment (not subject to appeal) by a court of law to have resulted primarily and directly from the Placement Agent’s willful misconduct or gross negligence in performing the services described herein, as the case may be.

          


    

    

    	

          	2.	
            Promptly after receipt by the Placement Agent of notice of any claim or the commencement of any action or proceeding with respect to which the Placement Agent is entitled to indemnity
              hereunder, the Placement Agent will notify the Company in writing of such claim or of the commencement of such action or proceeding, and the Company will assume the defense of such action or proceeding and will employ counsel reasonably
              satisfactory to the Placement Agent and will pay the fees and expenses of such counsel. Notwithstanding the preceding sentence, the Placement Agent will be entitled to employ counsel separate from counsel for the Company and from any other
              party in such action if counsel for the Placement Agent reasonably determines that it would be inappropriate under the applicable rules of professional responsibility for the same counsel to represent both the Company and the Placement Agent.
              In such event, the reasonable fees and disbursements of no more than one such separate counsel will be paid by the Company. The Company will have the exclusive right to settle the claim or proceeding provided that the Company will not settle
              any such claim, action or proceeding without the prior written consent of the Placement Agent, which will not be unreasonably withheld.

          


    

    

    	

          	3.	
            The Company agrees to notify the Placement Agent promptly of the assertion against it or any other person of any claim or the commencement of any action or proceeding relating to a
              transaction contemplated by the Agreement.

          


    

    

    	

          	4.	
            If for any reason the foregoing indemnity is unavailable to the Placement Agent or insufficient to hold the Placement Agent harmless, then the Company shall contribute to the amount
              paid or payable by the Placement Agent, as the case may be, as a result of such losses, claims, damages or liabilities in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand, and
              the Placement Agent on the other, but also the relative fault of the Company on the one hand and the Placement Agent on the other that resulted in such losses, claims, damages or liabilities, as well as any relevant equitable considerations.
              The amounts paid or payable by a party in respect of losses, claims, damages and liabilities referred to above shall be deemed to include any legal or other fees and expenses incurred in defending any litigation, proceeding or other action or
              claim. Notwithstanding the provisions hereof, the Placement Agent’s share of the liability hereunder shall not be in excess of the amount of fees actually received, or to be received, by the Placement Agent under the Agreement (excluding any
              amounts received as reimbursement of expenses incurred by the Placement Agent).

          


    
      A-1

      
        


    

    

    

    

    

    

    

    	

          	5.	
            These Indemnification Provisions shall remain in full force and effect whether or not the transaction contemplated by the Agreement is completed and shall survive the termination of
              the Agreement, and shall be in addition to any liability that the Company might otherwise have to any indemnified party under the Agreement or otherwise.

          


    

    

    

    

    [The remainder of this page has been intentionally left blank.] 

    

    

    
      A-2

      
        


    

     

    	
             

          	
            Very truly yours,

          
	
             

          	
             

          
	
             

          	
            MAXIM GROUP LLC

             

          
	
             

          	
             

          
	
             

          	
            By: 

          	
            /s/ Clifford A. Teller

          
	
             

          	
             

          	
            Name: Clifford A. Teller

          
	
             

          	
             

          	
            Title:    Executive Managing Director,

            Investment Banking

          
	
             

          	
             

          
	
             

          	
            Address for notice:

          
	
             

          	
            405 Lexington Avenue

          
	
             

          	
            New York, NY 10174

          
	
             

          	
            Attention: James Siegel, General Counsel

            Email: jsiegel@maximgrp.com

          


     

    Accepted and Agreed to as of

    the date first written above:

     

    	
            CASTOR MARITIME INC.

             

          
	
             

          	 
	
            By: 

          	
            /s/ Petros Panagiotidis

          	
             

          
	
             

          	
            Name: Petros Panagiotidis

          	
             

          
	
             

          	
            Title:  Chief Executive Officer

          	
             

          


     

    Address for notice:

    Castor Maritime Inc.

    
      223 Christodoulou Chatzipavlou Street

      Hawaii Royal Gardens

    

    3036 Limassol, Cyprus

    Email: petrospan@castormaritime.com

    

    

    

    

    [Signature Page to Indemnification Provisions

    Pursuant to April 5, 2021 Placement Agency Agreement

    between Maxim Group LLC and Castor Maritime Inc.]