Exhibit 10.11 


AMENDMENT to the SHIPBUILDING CONTRACT


SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN
REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE
REDACTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH FIVE
ASTERISKS (*****). 


	
  

 	
  

 	
  

 
	
  

 	
 This letter dated May 4, 2011 is the amendment to the Shipbuilding
 Contract entered into on May 11, 2010 .by and between Gas-four Ltd., a
 corporation organized and existing under the laws of Bermuda and having its
 registered office at Clarendon House, 2 Church Street, Hamilton HM11, Bermuda
 (hereinafter called the “Buyer”), on the one part; and Samsung Heavy
 Industries Co., Ltd., a corporation duly organized and existing under the
 laws of the Republic of Korea and having its registered office at 1321-15
 Seocho-dong, Seocho-gu, Seoul, Korea (hereinafter called the “Builder”), on
 the other part; and taken together referred to as the “PARTIES”. 

 
	
  

 	
  

 	
  

 
	
 WITNESSETH:

 
	
  

 	
  

 	
  

 
	
  

 	
 WHEREAS, the Buyer and the Builder entered into the Shipbuilding
 Contract for Builder’s Hull No. 1947 dated May 11, 2010; and 

 
	
  

 	
  

 	
  

 
	
  

 	
 WHEREAS, the Buyer and the Builder hereby agree to amend the Delivery
 provisions in the Shipbuilding Contract. 

 
	
  

 	
  

 	
  

 
	
  

 	
 NOW, THEREFORE, is consideration of the foregoing premises, the
 mutual covenants herein contained, and other good and valuable consideration,
 the receipt and legal sufficiency of which are hereby acknowledged, the
 PARTIES hereto, intending to be legally bound, hereby agree as follows: 

 
	
  

 	
  

 	
  

 
	
  

 	
 The following terms and conditions in the Shipbuilding Contract dated
 May 11, 2010 shall be amended as follows: 

 
	
  

 	
  

 	
  

 
	
 1.

 	
 DELIVERY OF THE VESSEL

 
	
  

 	
 Clause (a) in the Article V “DELIVERY” of the Shipbuilding Contract
 shall be replaced in its entirety with the following: 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (a) The Vessel shall be delivered to the Buyer (hereinafter called
 the “Delivery”) fully complete, supplied (including lubricating oil and fresh
 water in the system but excluding ship’s stores such as food, utensils,
 miscellaneous consumables, etc.) and ready for immediate operation, after
 having passed the tests and met the standards set forth in the Specifications
 and Articles III, IV, and XVII hereof on or before ***** 2013 (hereinafter
 called the “Delivery Date”). The Buyer may delay Delivery beyond the Delivery
 Date by giving written notice of the revised date (hereinafter 

 


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 called “Revised Delivery Date”) for Delivery not later than two (2)
 months before keel laying of the vessel. Buyer may give up to only one (1)
 notice for a delay of forty-five (45) days. Notwithstanding the foregoing, in
 the event defects that could affect the Vessel’s seaworthiness or impair the
 operation of Vessel are discovered after the Vessel has passed the tests and
 met standards set forth in the Specifications and prior to Delivery of the
 Vessel, Buyer shall have the right to require the Builder to make the
 necessary correction(s) at the Builder’s expense prior to Delivery.

 
	
  

 	
  

 	
  

 
	
 2.

 	
 MISCELLANEOUS

 
	
  

 	
 Except as expressly provided in this Amendment, all the other terms
 and conditions in the Shipbuilding Contract shall remain unchanged. 

 
	
  

 	
  

 	
  

 
	
  

 	
 IN WITNESS WHEREOF, the PARTIES hereto have caused this Amendment to
 be duly executed on the date and year first above written. 

 






	
  

 	
  

 	
  

 
	
 For and on
 behalf of Gas-four Ltd.:

 	
  

 	
 For and on
 behalf of Samsung Heavy Industries Co., Ltd.:

 






	
  
 	
  
 	
  
 	
  
 	
  
 
	 	/s/ Jeppe Jensen	 	 	/s/ Jaytee Jung
	

 
 	

 
 	
  
 	

 
 	

 
 
	
 Name:
 	
   Jeppe
 Jensen
 	
  
 	
 Name:
 	
   Jaytee
 Jung
 
	
 Title:
 	
   CEO
 	
  
 	
 Title:
 	
   Vice
 President
 
	
 Date:
 	
  
 	
  
 	
 Date:
 	
   4th
 May 2011
 


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