EX-10.26





Exhibit 10.26


Dated 13 November 2009



 




MARTINIQUE INTERNATIONAL CORP.

HARBOUR BUSINESS INTERNATIONAL CORP.

AMAZONS MANAGEMENT INC.

LAGOON SHIPHOLDING LTD.

CYNTHERA NAVIGATION LTD.

and

WALDECK MARITIME CO.

as joint and several Borrowers



- and -


MARFIN EGNATIA BANK Societe Anonyme

as Lender


 





Addendum No. 2 to a Financial Agreement

dated 27 August 2008

in respect of certain financial facilities

not exceeding in aggregate US$255,000,000


 







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THIS ADDENDUM No. 2 is made this 13th day of November 2009




BY AND BETWEEN





	1.	 	(a) MARTINIQUE INTERNATIONAL CORP., a corporation organised and existing under the laws of
the British Virgin Islands, having its registered office at Palm Chambers, 197 Main Street,
P.O. Box 3174, Road Town, Tortola, British Virgin Islands (the “Bremen Owner”);






(b) HARBOUR BUSINESS INTERNATIONAL CORP., a corporation organised and existing under the
laws of the British Virgin Islands, having its registered office at Palm Chambers, 197 Main
Street, P.O. Box 3174, Road Town, Tortola, British Virgin Islands (the “Hamburg Owner”);




(c) AMAZONS MANAGEMENT INC., a corporation organised and existing under the laws of the
Republic of the Marshall Islands, having its registered office at Trust Company Complex,
Ajeltake Road, Ajeltake Island, Majuro MH96960, Marshall Islands (the “Davakis Owner”);




(d) LAGOON SHIPHOLDING LTD., a corporation organised and existing under the laws of the
Republic of the Marshall Islands, having its registered office at Trust Company Complex,
Ajeltake Road, Ajeltake Island, Majuro MH96960, Marshall Islands (the “Ranger Owner”);




(e) CYNTHERA NAVIGATION LTD., a corporation organised and existing under the laws of the
Republic of the Marshall Islands, having its registered office at Trust Company Complex,
Ajeltake Road, Ajeltake Island, Majuro MH96960, Marshall Islands (the “Oryx Owner”);




(f) WALDECK MARITIME CO., a corporation organised and existing under the laws of the
Republic of the Marshall Islands, having its registered office at Trust Company Complex,
Ajeltake Road, Ajeltake Island, Majuro MH96960, Marshall Islands (the “Zebra Owner” and
together with the Bremen Owner and the Hamburg Owner and the Davakis Owner and the Ranger
Owner the Oryx Owner the “Borrowers”) as joint and several borrowers; and




	2.	 	MARFIN EGNATIA BANK Societe Anonyme, a company duly incorporated under the laws of the
Republic of Greece, having its registered office at 20 Mitropoleos Str. & Komninon, 546 24
Thessaloniki, Greece and acting through its office at 91 Akti Miaouli, 185 38 Piraeus, Greece
(the “Lender”) as lender.





WHEREAS





	A.	 	Pursuant to a financial agreement dated 27 August 2008 (the “Initial Financial Agreement”) as
same was amended and/or supplemented by an addendum no. 1




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	 	 	dated 9th September 2009
(the “Addendum No. 1”) and as the same is hereby and from time to time may be further
amended, supplemented or varied (hereinafter referred to as the “Financial Agreement”), made
by and among the Lender as lender and the Borrowers as joint and several borrowers, the Lender
made available to the Borrowers certain term loan and revolving credit facilities not
exceeding in aggregate Two hundred Fifty Five million Dollars ($255,000,000) in the following
amounts: (i) a term loan facility of up to One hundred and Sixty Five million Dollars
($165,000,000) (the “Term Facility”) and (ii) a reducing revolving credit facility of up to
Ninety million Dollars ($90,000,000) (the “Revolving Facility” and together with the Term
Facility the “Facilities”) for the purposes and upon the terms and conditions set forth
therein.
	 
	B.	 	Pursuant to the Financial Agreement, inter alia, the following documents were executed, as
security for the obligations of the Borrowers to the Lender thereunder:






	 	(i)	 	a first priority mortgage dated 11 September 2008 (the “Bremen Ship
Mortgage”) and a deed of covenants collateral thereto of even date (the “Bremen Ship
Deed of Covenants”), both executed by the Bremen Owner in favour of the Lender over
the Bremen Ship;
	 
	 	(ii)	 	a first priority mortgage dated 25 September 2008 (the “Hamburg Ship
Mortgage”) and a deed of covenants collateral thereto of even date (the “Hamburg Ship
Deed of Covenants”), both executed by the Hamburg Owner in favour of the Lender over
the Hamburg Ship;
	 
	 	(iii)	 	a first priority mortgage dated 28 August 2008 (the “Davakis Ship Mortgage”)
and a deed of covenants collateral thereto of even date (the “Davakis Ship Deed of
Covenants”), both executed by the Davakis Owner in favour of the Lender over the
Davakis Ship;
	 
	 	(iv)	 	a first priority mortgage dated 28 August 2008 (the “Ranger Ship Mortgage”)
and a deed of covenants collateral thereto of even date (the “Ranger Ship Deed of
Covenants”), both executed by the Ranger Owner in favour of the Lender over the Ranger
Ship;
	 
	 	(v)	 	a first priority mortgage dated 28 August 2008 (the “Oryx Ship Mortgage”) and
a deed of covenants collateral thereto of even date (the “Oryx Ship Deed of
Covenants”), both executed by the Oryx Owner in favour of the Lender over the Oryx
Ship;
	 
	 	(vi)	 	a first priority mortgage dated 25 September 2008 (the “Zebra Ship Mortgage”)
and a deed of covenants collateral thereto of even date (the “Zebra Ship Deed
of Covenants” and together with the Bremen Ship Deed of Covenants, the Hamburg
Ship Deed of Covenants, the Davakis Ship Deed of Covenants, the Ranger Ship Deed
of Covenants and the Oryx Ship Deed of Covenants the “Deeds of Covenants”), both
executed by the Zebra Owner in favour of the Lender over the Zebra Ship;




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	 	(vii)	 	a general assignment dated 25 September 2008 of, inter alia, the Earnings,
Insurances and Requisition Compensation of the Bremen Ship (the “Bremen Ship General
Assignment”), executed by the Bremen Owner in favour of the Lender;
	 
	 	(viii)	 	a general assignment dated 11 September 2008 of, inter alia, the Earnings,
Insurances and Requisition Compensation of the Hamburg Ship (the “Hamburg Ship General
Assignment”) executed by the Hamburg Owner in favour of the Lender;
	 
	 	(ix)	 	a general assignment dated 28 August 2008 of, inter alia, the Earnings,
Insurances and Requisition Compensation of the Davakis Ship (the “Davakis Ship General
Assignment”) executed by the Davakis Owner in favour of the Lender;
	 
	 	(x)	 	a general assignment dated 28 August 2008 of, inter alia, the Earnings,
Insurances and Requisition Compensation of the Ranger Ship (the “Ranger Ship General
Assignment”), executed by the Ranger Owner in favour of the Lender;
	 
	 	(xi)	 	a general assignment dated 28 August 2008 of, inter alia, the Earnings,
Insurances and Requisition Compensation of the Oryx Ship (the “Oryx Ship General
Assignment”), executed by the Oryx Owner in favour of the Lender;
	 
	 	(xii)	 	general assignment dated 25 September 2008 of, inter alia, the Earnings,
Insurances and Requisition Compensation of the Zebra Ship (the “Zebra Ship General
Assignment” and together with the Bremen Ship General Assignment, the Hamburg Ship
General Assignment, the Davakis Ship General Assignment, the Ranger Ship General
Assignment and the Oryx Ship General Assignment the “General Assignments”), executed
by the Zebra Owner in favour of the Lender; and
	 
	 	(xiii)	 	a guarantee and indemnity dated 27 August 2008 (the “Guarantee”) executed by
SEANERGY MARITIME HOLDINGS CORP. of the Marshall Islands (the “Seanergy Holdings
Guarantor”) in favour of the Lender.






	C.	 	Pursuant to the Addendum No. 1 and following a request by the Borrowers, the Lender inter
alia had agreed to waive the Lender’s rights under Clause 23 of the Initial Financial
Agreement up to 1 July 2010.
	 
	D.	 	The outstanding principal amount of the Term Facility on the date hereof is One hundred
Twenty Nine million and Seven hundred Fifty thousand Dollars




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	 	 	($129,750,000) and the
outstanding principal amount of the Revolving Facility on the date hereof is Fifty Four
million Eight hundred Forty Five thousand and Three hundred Ninety Dollars and Sixty Seven
cents ($54,845,390.67).
	 
	E.	 	The Borrowers and the Seanergy Holdings Guarantor, inter alia, requested the Lender to
consent to waive the Lender’s rights under Clause 23 of the Financial Agreement for a further
period up to 1 January 2011 (the “New Waiver Period”).
	 
	F.	 	The Lender has agreed to consent to the request referred to in Recital E above on the
condition (inter alia) that:






	 	(i)	 	the Borrowers enter into this Addendum No. 2 with the Lender;
	 
	 	(ii)	 	each Borrower executes in favour of the Lender an addendum to the relevant
Deed of Covenants, incorporating, inter alia, the amendments hereinafter set forth;
	 
	 	(iii)	 	each Borrower executes in favour of the Lender an addendum to the relevant
General Assignment; and
	 
	 	(iv)	 	the Seanergy Holdings Guarantor executes a confirmation of the validity of
its relevant Guarantee.






	G.	 	In connection with the foregoing, the parties hereto have agreed to partially amend the
Financial Agreement by entering into this Addendum No. 2, keeping any and all other provisions
of the Financial Agreement in full force and effect.




NOW THEREFORE, in consideration of the mutual promises herein contained and other good and valuable
consideration (receipt of which is hereby acknowledged) the parties do hereby agree as follows:





	1.	 	Definitions
	 
	 	 	In this Addendum No. 2 (which term shall include any addenda, amendments or supplements
hereto) and in the Recitals hereof capitalised terms not otherwise defined herein shall
have the meanings ascribed to them in the Financial Agreement and furthermore:
	 
	 	 	“Effective Date” means the date upon which the Lender’s agreement set forth in Clause 7
hereof shall become effective being a date not later than 13 November 2009 upon which the
conditions set forth in Clause 5 hereof shall have been fulfilled to the satisfaction of
the Lender and its legal advisors; and
	 
	 	 	“Supplemental Security Documents” means each of the documents referred to in




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	 	 	Clause 4
hereof which are to be executed and delivered on or prior to the Effective Date in
accordance with the terms hereof.
	 
	2.	 	Amendments to the Financial Agreement
	 
	2.1	 	With effect from the Effective Date the following definitions of Clause 2.01 of the Financial
Agreement shall be amended to read as follows:
	 
	 	 	“Applicable Margin” means:






	 	(a)	 	in respect of each Term Advance:






	 	(i)	 	in the event that the Total Assets to Total Liabilities
Ratio at the relevant Margin Calculation Date is greater than One hundred
Sixty Five per cent (165%): One point fifty per cent (1.50%) per annum; and
	 
	 	(ii)	 	in the event that the Total Assets to Total Liabilities
Ratio at the relevant Margin Calculation Date is lower than or equal to One
hundred Sixty Five per cent (165%): One point seventy five per cent (1.75%)
per annum;






	 	(b)	 	in respect of each Revolving Advance: Two point twenty five per cent (2.25 %)
per annum;






	 	 	provided however that the Applicable Margin throughout each Waiver Period shall be
increased to: (i) Three per cent (3.00%) per annum in respect of each Term Advance, and
(ii) Three point fifty per cent (3.50%) per annum in respect of each Revolving Advance, for
each relevant Interest Period; and provided further that at the end of such Waiver Period,
and subject to no Event of Default having occurred and fulfilment of the covenant contained
in Clause 23, the Applicable Margin referred to in sub-paragraphs (a) (i), (a) (ii) and
(b), as the case may be, shall be reinstated;
	 
	2.2	 	With effect from the Effective Date, an additional Clause 10.14 shall be inserted in the
Financial Agreement reading as follows:






	 	“10.14	 	 The Borrowers shall prepay the following Repayment Instalments in the amounts and on
the dates described below:






	 	(i)	 	on 1 July 2010, the Borrowers shall pay the eighth
(8th) Repayment Instalment in the amount of Five million Two
hundred and Fifty thousand Dollars ($5,250,000); and




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	 	(ii)	 	on 1 July 2010, the Borrowers shall pay the ninth
(9th) Repayment Instalment, in the total amount of Three million
two hundred thousand Dollars ($3,200,000).”






	2.3	 	With effect from the Effective Date, Clauses 19.30 and 19.31 of the Financial Agreement shall
be amended to read as follows:






	 	“19.30	 	to ensure and procure that by 31 December 2009, or such later date as the Lender may
agree, each of the Davakis Owner and the Ranger Owner shall enter into the Davakis
Ship Charter and the Ranger Ship Charter respectively and shall deliver to the Lender
true copies of their Charter; and
	 
	 	19.31	 	to ensure and procure that by 31 December 2009, or such later date as the
Lender may agree, each of the Davakis Owner and the Ranger Owner shall execute and
deliver to the Lender a first priority deed of assignment of their Charter, in form
and substance satisfactory to the Lender, and respective notices and acknowledgements
thereof.”






	3.	 	Construction of the Financial Agreement and the other Security Documents
	 
	3.1	 	With effect from the Effective Date all references in the Financial Agreement to “this
Agreement” shall be construed as references to the Financial Agreement as amended and/or
supplemented by this Addendum No. 2 and the words “hereby”, “hereof”, “herein”, “hereunder”
and the like shall be construed accordingly.
	 
	3.2	 	With effect from the Effective Date all references in any of the Security Documents to the
“Agreement” or to the “Financial Agreement” shall be construed as references to the Financial
Agreement as amended and/or supplemented by this Addendum No. 2 and the words “thereby”,
“thereof”, therein”, “thereunder” and like shall be construed accordingly.
	 
	3.3	 	With effect from the Effective Date all references in the Financial Agreement or any other of
the Security Documents to the Security Documents (including references in the Security
Document in question to itself) shall be construed as to include the Supplemental Security
Documents referred to in Clause 4 hereof and as references to the same as supplemented and
amended by or pursuant to this Addendum No. 2 and the words “herein”, “hereof”, “hereunder”,
“therein”, “thereof” and the like shall be construed accordingly.
	 
	4.	 	Supplemental Security Documents
	 
	4.1	 	On or prior to the Effective Date, each Borrower shall execute an addendum to the relevant
Deed of Covenants, in favour of the Lender and in form and substance satisfactory to the
Lender and its legal advisors.




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	4.2	 	On or prior to the Effective Date, each Borrower shall execute an addendum to the relevant
General Assignment, in favour of the Lender and in form and substance satisfactory to the
Lender and its legal advisors.
	 
	4.3	 	On or prior to the Effective Date, the Seanergy Holdings Guarantor shall execute in favour of
the Lender and in form and substance satisfactory to the Lender and its legal advisors a
confirmation of the validity of its Guarantee.
	 
	5.	 	Conditions Precedent 
	 
	 	 	The Lender’s agreement to consent to the Borrowers’ request referred to in Recital E hereof
is subject to the condition that the Lender shall have received the following in form and
substance satisfactory to the Lender, in all respects on or prior to 13 November 2009:






	 	(a)	 	certificate of incumbency of each Borrower and the Seanergy Holdings
Guarantor signed by its secretary or a director thereof, stating, inter alia, the
officers and/or directors of same and that no amendment has been effected to its
Articles of Incorporation and By-Laws, as the case may be, from the date of the
Financial Agreement until the date of such certificate, or advising of any change
thereto by attaching the relevant amendment to the certificate;
	 
	 	(b)	 	certificate or other evidence in respect of the existence and good standing
of each Borrower and the Seanergy Holdings Guarantor dated not more than fifteen (15)
days before the date of this Addendum No. 2;
	 
	 	(c)	 	minutes of meeting of the directors and shareholders, or resolutions of the
directors and shareholders of each Borrower at which there was approved the entry into
execution delivery and performance of this Addendum No. 2, the Supplemental Security
Documents and any other documents executed pursuant hereto or thereto to which the
relevant Borrower is a party;
	 
	 	(d)	 	evidence of the due authority of any person signing this Addendum No. 2, the
Supplemental Security Documents and any other documents executed pursuant hereto or
thereto on behalf of each Borrower and the Seanergy Holdings Guarantor;
	 
	 	(e)	 	the Supplemental Security Documents referred to in Clause 4, all duly
executed, delivered to the Lender and where appropriate duly registered with the
relevant authorities;
	 
	 	(f)	 	confirmation from any agents for service of process nominated in this
Addendum No. 2 and elsewhere in the Supplemental Security Documents for the acceptance
of any notice of service of process that they consent to such nomination;




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	 	(g)	 	opinions from lawyers appointed by the Lender at the Borrowers’ expense as to
all such aspects of law as the Lender shall deem relevant for this Addendum No. 2 and
the Supplemental Security Documents and any other documents executed pursuant thereto
or hereto;
	 
	 	(h)	 	payment to the Lender of an amount of Four thousand Five hundred Euros
(€4,500) in respect of legal fees of the Greek and English legal advisors of the
Lender in respect of this Addendum No. 2 and the Supplemental Security Documents;
	 
	 	(i)	 	payment to the Lender of an amount of the fees of the Marshall Islands
counsel of the Lender;
	 
	 	(j)	 	payment to the Lender of an amount of the fees of the Bahamian counsel of the
Lender;
	 
	 	(k)	 	payment to the Lender of an amount of the fees of the British Virgin Islands
counsel of the Lender; and
	 
	 	(l)	 	evidence that the Borrowers are in compliance with their obligations under
Clause 19.22 of the Financial Agreement.



PROVIDED HOWEVER THAT the Lender may in its absolute discretion consent to the Borrowers’ request
referred to in Recital E hereof notwithstanding that all the conditions specified in this Clause 5
have not been fulfilled and in this event the Borrowers hereby covenant to procure the fulfilment
of such conditions within ten (10) days after the Effective Date or at such other time specified by
the Lender.




	6.	 	Representations, Warranties and Covenants
	 
	6.1	 	As at the date hereof each Borrower makes, repeats and restates, as the case may be, all the
representations, warranties and covenants set forth in the Financial Agreement, mutatis
mutandis, as of the date hereof.
	 
	6.2	 	In addition to the above the Borrowers hereby represent and warrant to the Lender as at the
date of this Addendum No. 2 that:





	 	(a)	 	all necessary licences, consents and authorities, governmental or otherwise,
for the Borrowers and the Seanergy Holdings Guarantor to enter into and perform their
respective obligations under this Addendum No. 2 and the Supplemental Security
Documents to which each of them is a party have been obtained;
	 
	 	(b)	 	this Addendum No. 2 constitutes and each of the Supplemental Security




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	 	 	 	Documents will on the execution thereof constitute the legal, valid and binding
obligations of the relevant Borrower(s) or the Seanergy Holdings Guarantor (as the
case may be) enforceable in accordance with its terms; and
	 
	 	(c)	 	the execution and delivery of, and the performance of the provisions of this
Addendum No. 2 and the Supplemental Security Documents do not, and will not contravene
any applicable law or regulation existing at the date hereof or any contractual
restriction binding on any one or more of the Borrowers and the Seanergy Holdings
Guarantor or (where applicable) their respective constitutional documents.






	7.	 	Agreement of the Lender
	 
	 	 	The Lender relying upon each of the representations and warranties set out in Clause 6 and
subject to the fulfilment of the conditions precedent set out in Clause 5 on or before 13
November 2009, hereby agrees to waive its rights under Clause 23 of the Financial Agreement
throughout the New Waiver Period.
	 
	8.	 	Fees Costs and Expenses
	 
	 	 	Whether or not the transactions contemplated by this Addendum No. 2 or any of them take
effect, the Borrowers shall pay to the Lender on first demand and be liable to the Lender
for all legal fees and other costs and expenses incurred by the Lender in the negotiation
and preparation and execution of this Addendum No. 2 and the Supplemental Security
Documents and the transactions contemplated hereby and for any and all losses, costs,
expenses, damages, claims, demands, rights of set-off and/or any counterclaim directly or
indirectly incurred by the Lender as a result of or in connection with the Addendum No. 2
and/or the Supplemental Security Documents provided that the Lender will provide supporting
documentation for the legal fees and other costs and expenses.
	 
	9.	 	Headings and Counterparts
	 
	 	 	The headings in this Addendum No. 2 are for the purpose of references only, and shall not
limit or otherwise affect any of the terms hereof. This Addendum No. 2 may be executed in
any number of counterparts. Any single counterpart or set of counterparts signed, in either
case, by all the parties hereto shall constitute a full and original agreement for all
purposes.
	 
	10.	 	Continuation of the Financial Agreement and other Security Documents
	 
	 	 	Subject to the amendments to the Financial Agreement set out in or to be made pursuant to
this Addendum No. 2 and such further modifications (if any) thereof as may be necessary to
make same consistent with the terms of this Addendum No. 2 




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	 	 	or the documents supplementing
and amending same (as the case may be) the Financial Agreement and the other Security Documents shall remain in full force and effect and,
without prejudice to the generality of the foregoing, the Security Documents shall continue
to secure the obligations of the Borrowers under the Financial Agreement as supplemented
and amended by this Addendum No. 2.
	 
	11.	 	Further Assurance
	 
	 	 	The Borrowers agree with the Lender to execute, deliver and, if appropriate, register at
their own expense any and all such further assurances or documents as the Lender may
require for the purpose of more fully carrying into effect the purposes of this Addendum
No. 2 and/or ensuring that the Lender’s security is maintained.
	 
	12.	 	Notices
	 
	 	 	Clause 36 (Notices) of the Financial Agreement shall apply to this Addendum No. 2 as if the
same was set out in full herein.
	 
	13.	 	Applicable Law-Jurisdiction
	 
	13.1	 	This Addendum No. 2 shall be governed by and construed in accordance with the Laws of
England.
	 
	13.2	 	Any legal action or proceedings arising out of or in connection with this Addendum Nr. 2
shall be brought in the High Court of Justice in London, England. The Borrowers hereby accept
for themselves and in respect of their assets and revenues generally and unconditionally the
jurisdiction of the aforesaid court and hereby irrevocably appoint E.J.C. Album, Solicitor,
presently located at Exchange Tower (10th Floor), 1 Harbour Exchange Square, London E14 9GE,
England, as their agent for service of process in respect of proceedings before such court and
undertake that, throughout the Security Period they will maintain an agent in England for such
purpose.
	 
	13.3	 	The Borrowers irrevocably designate and appoint Mr. Efstratios Paschalidis, an
Attorney-at-law with offices at 8th Floor, Ionian Building, 2 Defteras Merarchias Street, 185
36 Piraeus, Greece, as agent for the service of process in Greece (“antiklitos”) and agrees to
consider any legal process or any demand or notice made served by or on behalf of the Lender
on the said agent as being made to the Borrowers. The designation of such an authorized agent
(“antiklitos”) shall remain irrevocable until all Indebtedness shall have been paid in full in
accordance with the terms of the Financial Agreement and the other Security Documents.
	 
	13.4	 	The submission to such jurisdiction shall not (and shall not be construed so as to) limit the
right of the Lender to bring any legal action or proceedings with respect to this Addendum Nr.
1 in any competent jurisdiction. The Borrowers hereby irrevocably waive




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	 	 	any objection they may
now or hereafter have to the selection of venue of any such action or
proceedings and any claim they may have that such action or proceedings have been brought
in an inconvenient forum. Nothing herein contained shall affect the right of the Lender to
serve process in any other manner permitted by law.




AS WITNESS the hands of the duly authorised representatives of the parties hereto the day and year
first before written.




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EXECUTION PAGE



	 	 	 	 	 
	SIGNED for and on behalf of
	 	 	)	 
	MARFIN EGNATIA BANK Societe Anonyme
	 	 	)	 
	by
/s/ Stavros Yagos
	 	 	)	 
	and
by /s/ Dimitris Gialouris
	 	 	)	 
	in the presence of: Aikaterini Kokkinidou
	 	 	)	 
	 
	 	 	 	 
	SIGNED for and on behalf of
	 	 	)	 
	MARTINIQUE INTERNATIONAL CORP.
	 	 	)	 
	by
/s/ Theodora Mitropetrou
	 	 	)	 
	in
the presence of: Aikaterini Kokkinidou
	 	 	)	 
	 
	 	 	 	 
	SIGNED for and on behalf of
	 	 	)	 
	HARBOUR BUSINESS INTERNATIONAL CORP.
	 	 	)	 
	by /s/ Theodora Mitropetrou
	 	 	)	 
	in the presence of: Aikaterini Kokkinidou
	 	 	)	 
	 
	 	 	 	 
	SIGNED for and on behalf of
	 	 	)	 
	AMAZONS MANAGEMENT INC.
	 	 	)	 
	by /s/ Theodora Mitropetrou
	 	 	)	 
	in the presence of: Aikaterini Kokkinidou
	 	 	)	 





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	SIGNED for and on behalf of

	 	 	)	 
	LAGOON SHIPHOLDING LTD.

	 	 	)	 
	by /s/ Theodora Mitropetrou

	 	 	)	 
	in
the presence of: Aikaterini Kokkinidou

	 	 	)	 
	 
	 	 	 	 
	SIGNED for and on behalf of

	 	 	)	 
	CYNTHERA NAVIGATION LTD.

	 	 	)	 
	by  /s/ Theodora Mitropetrou

	 	 	)	 
	in
the presence of: Aikaterini Kokkinidou

	 	 	)	 
	 
	 	 	 	 
	SIGNED for and on behalf of

	 	 	)	 
	WALDECK MARITIME CO.

	 	 	)	 
	by  /s/ Theodora Mitropetrou

	 	 	)	 
	in
the presence of: Aikaterini Kokkinidou

	 	 	)	 







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