|   | - | the Government of the Republic of Croatia on its 36th session passed the Decision class: 302-01/10-03/02, no.: 5030120-10-1 of January 14, 2010 on Measures for economic recovery and development and Decision class: 302-01/10-03/02, no.: 5030116-11-9 of January 27, 2011 on continuation of Measures for economic recovery and development; |
|--------|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | - | the Government of the Republic of Croatia on its 38th session reached the Conclusion class: 302-01/10-03/02, no.: 5030120-10-3 dated January 28, 2010 on adoption of Measures for economic recovery and development – financing models - MODEL A, now pursuant to Decision of the Croatian Government of January 27, 2011 - MODEL A+ |
|--------|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | - | the Government of the Republic of Croatia passed the Decision class: 302-01/10-03/02, no.: 5030120-10-3-6 of February 11, 2010 by which the Plan for providing HBOR’s funds for implementation of Measures for economic recovery and development was approved; |
|--------|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | - | the Business Cooperation Agreement regarding the implementation of Programme for supplying credit for the economic recovery and development - Model A+ no.: Mod-A-PLUS-08 (hereinafter referred to as the Business Cooperation Agreement) was concluded between the HBOR and the Bank on March 22 (twentysecond), 2011 (twothousandandeleven); |
|--------|---|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | - | the Credit Beneficiary meets the requirements for usage of funds provided through the Programme for supplying credit for the economic recovery and development Model A+ no.: Mod-A-PLUS-01, adopted on the 2nd theme session of the Board of the HBOR of January 26, 2011 (hereinafter referred to as: the Programme) |
|--------|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | - | on May 5, 2011 the Bank passed a Decision no. 201104112050172-1 by which the loan was granted to the Credit Beneficiary to the amount of 80,000,000.00 HRK (in words: eightymillionkunas) together with interest, fees and expenses under the above described conditions; |
|--------|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1. | LOAN TERMS AND CONDITIONS |
|----|---------------------------|

| 1.1. | Loan amount: |
|------|--------------|

|                                               |   | Amount in |          |   | Participation |   |
|----------------------------------------------------|--------|-----------|---------------|--------|---------------|--------|
| Creditors                                          |   | HRK       |          |   | rate          |   |
| HBOR                                               |   |      | 32,000,000.00 |   |          |   | 40 | % |
| Erste & Steiermärkische Bank d.d., Rijeka |   |      | 48,000,000.00 |   |          |   | 60 | % |
| TOTAL                                              |   |      | 80,000,000.00 |   |          |   | 100.00 | % |

| 1.2. | Loan Purpose: |
|------|---------------|

----

| Purpose specification of the total Loan amount  |   | (%)    |   |
|-------------------------------------------------|--------|--------|--------|
| Working capital                                 |   |   | 100    | % |
| Fixed assets                                    |   |   |   |   |
| -     Land                  |   |   |   |   |
| -     Buildings             |   |   |   |   |
| -     Equipment             |   |   |   |   |
| -     Plantations and flock |   |   |   |   |
| -     Other                 |   |   |   |   |
| Total                                           |   |   | 100    | % |

| 1.3. | The manner of the Loan usage and the time limit |
|------|-------------------------------------------------|

----

| 1.4.  | Time limit for the Loan repayment |
|------------|-----------------------------------|

| 1.5. | Interest |
|------|----------|

| 1.5.1. | Common provisions |
|--------|-------------------|

|   | · | interest described in Article 1.5.2. of the Agreement relating to HBOR’s part of the Loan; |
|--------|--------|--------------------------------------------------------------------------------------------------|

|   | · | interest described in Article 1.5.3. of the Agreement relating to Bank’s part of the Loan. |
|--------|--------|--------------------------------------------------------------------------------------------------|

----

| 1.5.2.  |   Interest relating to the HBOR’s part of the Loan |
|--------------|---------------------------------------------------------------|

| 1.5.2.1. | Agreed interest |
|----------|-----------------|

| 1.5.2.2. | Default interest |
|----------|------------------|

| 1.5.3. | Interest relating to the Bank’s part of the Loan |
|--------|--------------------------------------------------------|

| 1.5.3.1. | Agreed interest |
|----------|-----------------|

----

| 1.5.3.2. | Default Interest |
|----------|------------------|

----

|   | · | due Loan instalments according to the expressed amount and due dates in the repayment plan as described in Article 1.3.8., i.e. Article 1.10.3. of the Agreement and |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | due agreed interest according to the calculation and the payment instruction of the Bank. |
|--------|--------|-------------------------------------------------------------------------------------------|

| 1.7. | Fees |
|------|------|

|   | · | pay to the benefit of the HBOR the fee to the amount of 0.5% (in words: zeropointfivepercent) of the HBOR’s part of the Loan, as mentioned in Article 1.1.2. of the Agreement, calculated on the date of the Agreement. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | pay to the benefit of the Bank the fee to the amount of 0.7% (in words: zeropointsevenpercent) of the Bank’s part of the Loan, as mentioned in Article 1.1.2. of the Agreement, calculated on the date of the Agreement. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 1.8. | Taxes and expenses |
|------|--------------------|

| 1.9. | Repayment sequence |
|------|--------------------|

|   | · | expenses relating to the Agreement, |
|--------|--------|-------------------------------------|

|   | · | fees relating to the Bank’s and the HBOR’s part of the Loan, |
|--------|--------|--------------------------------------------------------------------------|

|   | · | default interest relating to the Bank’s and the HBOR’s part of the Loan, |
|--------|--------|--------------------------------------------------------------------------------------|

|   | · | agreed interest relating to the Bank’s and the HBOR’s part of the Loan, |
|--------|--------|-------------------------------------------------------------------------------------|

|   | · | remainder of the paid funds is to be divided in ratio 60:40 in order to settle the due principal of the Bank and the HBOR. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------|

----

|   | · | expenses of forced collection, |
|--------|--------|--------------------------------|

|   | · | expenses relating to the Agreement, |
|--------|--------|-------------------------------------|

|   | · | fees relating to the Bank’s and the HBOR’s part of the Loan, |
|--------|--------|--------------------------------------------------------------------------|

|   | · | default interest relating to the Bank’s and the HBOR’s part of the Loan, |
|--------|--------|--------------------------------------------------------------------------------------|

|   | · | agreed interest relating to the Bank’s and the HBOR’s part of the Loan, |
|--------|--------|-------------------------------------------------------------------------------------|

|   | · | remainder of the paid funds is to be divided in ratio 60:40 in order to settle the principal of the Bank and the HBOR. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------|

| 1.10. | Early Loan repayment |
|-------|----------------------|

| 2. | Rights, obligations and powers of the Bank as an agent |
|----|--------------------------------------------------------|

| 2.1. | Appointment of the Bank as an agent |
|------|-------------------------------------|

----

|   | · | conclude this Agreement with the Credit Beneficiary in relation to the HBOR’s part of the Loan, |
|--------|--------|-------------------------------------------------------------------------------------------------------|

|   | · | take adequate measures to secure the entire Loan amount (together with auxiliary claims), |
|--------|--------|-------------------------------------------------------------------------------------------|

|   | · | pay the Loan amount to the Credit Beneficiary, |
|--------|--------|------------------------------------------------|

|   | · | supervise whether the Loan is being used in accordance with its purpose, |
|--------|--------|--------------------------------------------------------------------------|

|   | · | calculate the principal, interest, fees, expenses and according to that submit payment instructions to the Credit Beneficiary relating to the HBOR’s and the Bank’s part of the Loan, |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | collect total due Loan amount in due time, as well as interest, fees and other expenses according to Article 1.9. of the Agreement, |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------|

|   | · | monitor business activity of the Credit Beneficiary during the Agreement period and inform the HBOR about eventual breach or non-execution of the Agreement provisions by the Credit Beneficiary, |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | cancel this Agreement and request payment of the full Loan amount together with interest, fees and other expenses in case of breach of the Agreement by the Credit Beneficiary, with approval of the HBOR and in accordance with internal documents of the Bank, |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | complete forced collection of the Loan amount, interest, fees and other expenses, if any due debt amount under the Agreement should not be paid by the Credit Beneficiary, |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | in case of forced collection, and after all expenses of such proceeding have been settled, divide all amounts collected from the Credit Beneficiary in accordance with Article 1.9. of the Agreement, |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | perform other duties pursuant to the Agreement. |
|--------|--------|-------------------------------------------------|

----

| 2.2.  | Claim assignment for the purpose of collection |
|------------|------------------------------------------------|

| 3. | Guarantee Instruments and prerequisites |
|----|-----------------------------------------|

| a) | affidavit according to Article 125 of the Distraint Law (promissory note), duly issued, solemnized by the notary public and signed by the Credit Beneficiary in relation to the Bank’s part of the Loan; |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b) | affidavit according to Article 125 of the Distraint Law (promissory note), duly issued, solemnized by the notary public and signed by the Credit Beneficiary in relation to the HBOR’s part of the Loan; |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| c) | 2 (two) blank single accepted bills of the Credit Beneficiary with the clause "protest waived in case of dishonour" and the bill of exchange statement for the Bank’s part of the Loan; |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| d) | 2 (two) blank single accepted bills of the Credit Beneficiary with the clause "protest waived in case of dishonour" and the bill of exchange statement for the HBOR’s part of the Loan; |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| e) | Security Agreement with the purpose of securing the monetary claim by putting a floating lien on tuna inventories (“Security Agreement”). Lien on tuna inventories (hereinafter referred to as: the Movable property) shall equal the total amount of the Loan and shall be the primary lien to the benefit of the Bank, relating to the Bank’s part of the Loan, together with the Bank’s agreed interest, default interest, fees and other expenses in accordance with the Agreement, as well as to the benefit of the HBOR for the HBOR’s part of the Loan, together with the HBOR’s agreed interest, default interest, fees and other expenses in accordance with the Agreement; |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| f) | proof of floating lien (entered in the Registry) on tuna inventories (on Movable property) being the primary lien to the benefit of the Bank, for the Bank’s part of the Loan with the purpose of securing the monetary claim of the Bank, as well as to the benefit of the HBOR for the HBOR’s part of the Loan with the purpose of securing the monetary claim of the HBOR, as well as proof of insured status of the tuna inventories by respectable Insurance company acceptable to the Bank, and the proof of the paid premium sum; |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| g) | Joint Guarantee Agreement concluded between the Creditors and the company MB LUBIN, RIBARSTVO d.o.o. Kali, PUT VELE LUKE 70, 23272 KALI; PIN: 72633995497, guaranteeing to the Creditors for Beneficiary’s debt arising from the Agreement; |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| h) | Joint Guarantee Agreement concluded between the Creditors and the company ATLANTIS GROUP HF, Stórhöfða 23, 110 Reykjavik, Island, ID-no: 700805-1580, guaranteeing to the Creditors for Beneficiary’s debt arising from the Agreement; |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| i) | Joint Guarantee Agreement concluded between the Creditors and the company UMAMI SUSTAINABLE SEAFOOD INC., 1230 Columbia Street Suite 1100, San Diego, California 92101, USA, guaranteeing to the Creditors for Beneficiary’s debt arising from the Agreement; |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| j) | copy of the valid Extract from the Court Registry relating to the Credit Beneficiary, confirmed as authentic by the authorized person of the Credit Beneficiary; |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| k) | signature card of the Credit Beneficiary’s representative authorized to sign this Agreement, the Guarantee Instruments and other documents which Credit Beneficiary must submit according to this Agreement; |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| l) | other document required by the Bank, acceptable to the Bank regarding their form and content. |
|----|-----------------------------------------------------------------------------------------------|

----

|   | a) | at a time when the Loan Application was received and on the Loan Usage Date affidavits and guarantees listed in this Agreement must be authentic, accurate, complete, must not be misleading, must be valid as if issued at a time when the Loan Application was received and on the Loan Usage date; |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | there must be no events or circumstances representing the breach of Agreement regarding Beneficiary’s obligations under this Agreement, or events or circumstances for which it can be reasonably assumed that could represent the breach of Agreement regarding Beneficiary’s obligations under this Agreement by submitting the Loan Application, by expiration of time, by decision making or all of the above; or events or circumstances for which it can be reasonably expected to be a consequence of the Loan usage; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Credit Beneficiary must fully pay fees described in Article 1.7. of the Agreement; |
|--------|-----|------------------------------------------------------------------------------------|

|   | (d) | the HBOR must pay to the Bank the entire amount corresponding to HBOR’s part of the Loan in due time; |
|--------|-----|-------------------------------------------------------------------------------------------------------------|

|   | e) | Beneficiary’s accounts must not be blocked due to any reason, unless the Creditors jointly agree on that. |
|--------|----|-----------------------------------------------------------------------------------------------------------------|

| a) | enter the amount of due outstanding debt on the submitted blank bills, as well as all other necessary details, address them and request the payment if the Credit Beneficiary should not fulfil its obligations under this Agreement. If such payment would not be possible, the Creditors are authorized to take appropriate legal measures; and |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b) | use all its funds (HRK or foreign exchange) from all its Bank deposits (dedicated or not, placed on time deposit or not), as well as funds on accounts opened with the Bank (currently or in the future), without any further notification, approval or court intervention, for collection of due Creditors’ claims, plus the accrued expenses. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c) | request payment at the Financial agency based on promissory notes relating to the HBOR’s or the Bank’s part of the Loan, according to the law. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 4. | Incentive interest rates and State Aid Regulation |
|----|---------------------------------------------------|

| 5. | Other terms and conditions |
|----|----------------------------|

|   | · | all necessary authorizations and approvals for conclusion and execution of this Agreement and the Security Agreement have been prepared, all actions required for legality and validity of this Agreement and the Security Agreement have been taken, all measures required for ensuring that all Creditors’ claims under this Agreement can be binding and actionable have been taken; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Beneficiary’s State aid Affidavit, data regarding the possible status of the Beneficiary as the firm in difficulty and all other information and documentation of the Credit Beneficiary with the purpose of getting the Loan are authentic, integral and are not misleading; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | conclusion of this Agreement and the Security Agreement is not against the applicable regulations and/or general documents of the Credit Beneficiary (including the Articles of Incorporation) and/or contracts it concluded and/or decisions of the court/arbitration/competent body referring to the Beneficiary; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | all decisions, approvals and authorizations required for conclusion and/or execution of this Agreement and the Security Agreement are valid and have been obtained in due time; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | there are no court, administrative, arbitration or other proceedings initiated against the Beneficiary or members of its Board or its related enterprises, the result of which could endanger the ability of the Credit Beneficiary to duly fulfil its obligations under this Agreement, nor is the Beneficiary informed of circumstances that could be the reason for initiation of such proceedings; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | there are no circumstances that could diminish its creditworthiness and challenge its ability to repay in due time the entire Loan amount together with interest, fees and other expenses under the Agreement; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | 75% of its total Kuna and foreign exchange funds shall be directed to accounts opened with the Bank – until the entire Loan amount together with interest, fees and other expenses under the Agreement has been repaid; otherwise the Bank has the right to charge the fee of 2% on outstanding Loan amount. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | encumber its assets or assume obligations to the benefit of third persons that could encumber its assets, including the tuna in all cages, without the previous written approval of the Bank; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | alienate its assets without the previous written approval of the Bank, except as a part of regular business activities and for monetary remuneration representing the equivalent value obligation which is due simultaneously; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | make legal status changes (merger, acquisition or division) or take any other actions that could result in its ceasing to exist as an independent legal person, change of its organization or change of its business scope without the previous written approval of the Creditors; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | grant loans (except to related enterprises Mb Lubin Ribarstvo d.o.o. and Bepina Komerc d.o.o. for the purpose of regular business activities); deposit funds, except in banks; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | pay to its members any amounts relating to Loan repayment, i.e. make any other transaction with the same or similar economic effect; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------|

|   | · | guarantee and/or vouch for obligations of third persons who are not its related enterprises; |
|--------|--------|----------------------------------------------------------------------------------------------|

|   | · | accept additional loans without the previous written approval of the Bank; |
|--------|--------|----------------------------------------------------------------------------|

|   | · | acquire stocks and business shares without the previous written approval of the Bank; |
|--------|--------|---------------------------------------------------------------------------------------|

|   | · | take actions that could result in diminishing its creditworthiness and challenging its ability to fully and in due time repay the Loan amount together with interest, fees and expenses under the Agreement. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | take all necessary measures to protect its assets from rights, requests and interests of third persons; |
|--------|--------|---------------------------------------------------------------------------------------------------------|

|   | · | ensure that its obligations under this Agreement have at least the same priority as all other present and future non-inferior obligations, except for obligations with legally guaranteed right of priority; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | regularly deliver to the Bank (i) its financial statements (Profit and Loss Account, Balance Report, Cash Flow Statement, statistical reports), as well as audit reports as soon as those are available, (ii) information delivered to the stock market for public announcement or to other creditors, but at the same time when such information is delivered to these subjects, (iii) at the request of the Bank - other information relating to or that could relate to its business or financial status; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | immediately inform the Bank about the change of the company name or the address; |
|--------|--------|----------------------------------------------------------------------------------|

|   | · | at the request of the HBOR – settle all obligations relating to the HBOR’s part of the Loan that the Credit Beneficiary pays to the Bank (acting as an agent) according to requests and to the benefit of the HBOR; in this case the Bank shall not act as an agent in relation to the HBOR’s part of the Loan any more; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | at the request of any Creditor – immediately show its business ledgers and other documents relating to the Loan (according to the opinion of the Creditors); |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | at the request of any Creditor – immediately submit all data and information requested by the Creditor regarding the Loan and business activities of the Credit Beneficiary, and allow access to its business facilities to the Creditors. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | use the Loan funds according to the Loan purpose – financing of the working capital relating to tuna farming, but max. 33% of funds can be used for buying of new tuna, |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | participate in settlement of tuna farming costs with at least 45% of own funds, |
|--------|--------|---------------------------------------------------------------------------------|

|   | · | use the Loan funds according to purpose; the funds shall be paid to suppliers’ accounts (based on submitted documentation – invoices, estimates etc.) or it can be paid to the Beneficiary’s account, but in this case the Credit Beneficiary is obliged to submit to the Bank all the necessary documents proving that the Loan funds are going to be used in accordance with the purpose of the Loan and that Credit Beneficiary shall also participate with its own funds. If the Bank should determine that the funds are not being used in accordance with the Loan purpose and/or that Credit Beneficiary participated with less than 45% of total costs approved by the Bank, further Loan usage shall be blocked by the Bank, and the Credit Beneficiary is hereby agreed with that (because otherwise the Bank has the right to charge the fee of up to 2% on outstanding Loan amount). |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | obtain an irrevocable letter of credit acceptable to the Bank, at least of value equal to the insured tuna inventory for which removal of the floating lien was requested, transfer and assign to the Bank all rights from such letter of credit and submit to the Bank an adequate affidavit confirming such transfer and assignment and containing approval of the bank that issued the letter of credit, all with the purpose of partial early loan repayment, or |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | obtain and give to the Bank another movable property and put a floating lien on it, at least of value equal to the insured value of the part of the Movable property for which removal of the floating lien was requested. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | request and obtain all information relating to the Credit Beneficiary available to Related enterprises (related to the Bank in terms of the Company Act, Credit Institutions Act and other regulations relevant for financial business operations (hereinafter referred to as: Related enterprises)) and the HBOR, including without limitation to the creditworthiness information; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | submit information relating to the Credit Beneficiary to Related enterprises and the HBOR |
|--------|--------|-------------------------------------------------------------------------------------------|

|   | · | enable the HBOR to fully access the Bank’s business ledgers and other documentation regarding the loan application, Loan funds, payments under this Agreement, entries of payments under this Agreement, documentation regarding the Loan Guarantee Instruments and other issues relating to the execution of this Agreement and the Programme, as well as access to claim collection proceedings under this Agreement (forced or voluntary). |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 6. | Agreement Cancelation |
|----|-----------------------|

|   | · | if on a due date the Credit Beneficiary should not fulfil any monetary obligation under this Agreement; |
|--------|--------|---------------------------------------------------------------------------------------------------------|

|   | · | if the Credit Beneficiary should be late with fulfilment of any non-monetary obligation under this Agreement for more than 15 (fifteen) days; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | if the Credit Beneficiary should become insolvent, terminate payment or its account should be blocked; |
|--------|--------|--------------------------------------------------------------------------------------------------------|

|   | · | in case of other circumstances which the Creditors could reasonably consider as the negative influence on the ability of the Credit Beneficiary to duly fulfil its obligations under the Agreement; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | if it should be determined that any affidavit or a guarantee of the Credit Beneficiary listed in this Agreement was not integral, accurate, authentic or up to date; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | if against or in relation to the Credit Beneficiary a proceeding should be initiated and its course or the outcome could endanger the Beneficiary’s ability to duly fulfil its obligations under the Agreement, or, according to the opinion of the Creditors, such proceeding may be initiated; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | if against the Credit Beneficiary a bankruptcy proceeding should be initiated; |
|--------|--------|--------------------------------------------------------------------------------|

|   | · | if an important unfavourable change in business operations, assets, obligations, financial status or creditworthiness of the Credit Beneficiary should occur, or the ability of the Credit Beneficiary to duly fulfil its obligations under the Agreement becomes doubtful, or such circumstances should have occurred or may occur which the Creditors could reasonably consider as the negative influence on the ability of the Credit Beneficiary to duly fulfil its obligations under the Agreement; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | if the Credit Beneficiary should use the Loan against its purpose or enable Creditors to financially or otherwise supervise the Loan usage; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | if for any reason any Guarantee Instrument should become invalid or ceases to provide sufficient guarantee for the Beneficiary’s obligations under the Agreement, or payment should be requested pursuant to it, or a more suitable guarantee instrument should appear and the Credit Beneficiary should not submit it to the Creditors at the request of  the Bank in due time; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | if at least 75% of its total Kuna and foreign exchange funds should not be directed to accounts opened with the Bank; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------|

|   | · | in case of any ownership changes made at the Credit Beneficiary which should not be acceptable to Creditors; |
|--------|--------|--------------------------------------------------------------------------------------------------------------|

|   | · | if the Credit Beneficiary should not fulfil or should be late with fulfilment of any monetary/non-monetary contract obligation on the basis of any existing or future placement used at the Bank by the Credit Beneficiary, including contract obligation regarding the guarantee instruments on the basis of the said placements; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | if the Credit Beneficiary should act against any provision of the Agreement; |
|--------|--------|------------------------------------------------------------------------------|

|   | · | if the Credit Beneficiary should not fulfil any Additional condition listed in Article 5.4. of the Agreement; |
|--------|--------|---------------------------------------------------------------------------------------------------------------|

|   | · | if the Credit Beneficiary should not fulfil any other obligation under the Agreement or any Guarantee Instrument. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------|

----

| 7. | Final provisions |
|----|------------------|

----

|                                             | /s/    |             |   |   | /s/ |   |
|--------------------------------------------------|--------|------------------|--------|--------|-----|--------|
| CROATIAN BANK FOR RECONSTRUCTION AND DEVELOPMENT |   | KALI TUNA d.o.o. |

|                                       | /s/    |   |   |
|--------------------------------------------|--------|--------|--------|
| ERSTE & STEIERMÄRKISCHE BANK d.d. |   |

----

|    |   |        |   |   |    |   |   |   |   |   |   |   |   | Giro      |   |
|---------|--------|-------------|--------|--------|---------|--------|--------|--------|--------|--------|--------|--------|--------|-----------|--------|
|    |   |        |   |   |    |   |   |   |   |   |   |   |   | account   |   |
|    |   |        |   |   | Amount  |   |   |   |   |   |   |   |   | and       |   |
| Company |   | Payment     |   |   | without |   |   |   |   |   | Total  |   |   | reference |   |
| name    |   | description |   |   | the VAT |   |   | VAT    |   |   | amount |   |   | number    |   |
|    |   |        |   |   |    |   |   |   |   |   |   |   |   |      |   |   |   |   |   |   |
|    |   |        |   |   |    |   |   |   |   |   |   |   |   |      |   |   |   |   |   |   |
|    |   |        |   |   |    |   |   |   |   |   |   |   |   |      |   |   |   |   |   |   |
|    |   |        |   |   |    |   |   |   |   |   |   |   |   |      |   |   |   |   |   |   |
| TOTAL:  |   |        |   |   |    |   |   |   |   |   |   |   |   |      |   |   |   |   |   |   |

----

|   | i) | there are no events or circumstances representing the reason for cancelation of the Agreement according to Article 6 of the Agreement, or events or circumstances for which it can be reasonably assumed that could represent the reason for cancelation of the Agreement according to Article 6 of the Agreement, by submitting the Loan Application, by expiration of time, by decision making or all of the above; |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ii) | affidavits and guarantees listed in this Agreement are authentic, accurate, complete, not misleading and valid as if submitted at a time when the Loan Application was received or the payment was made; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | iii) | fees described in Article 1.7. of the Agreement have been paid; |
|--------|------|-----------------------------------------------------------------|

|   | iv) | our accounts are not blocked for any reason; |
|--------|-----|----------------------------------------------|

|   | v) | we are authorized to use the Loan; all corporate actions have been taken in due time in order to obtain the approval for the Loan usage; by using the Loan we do not exceed the credit limit (set by binding regulations, by contract or in any other manner); |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----