ADDITIONAL
CLAUSES 21-28 TO SHIP MANAGEMENT AGREEMENT BETWWEN ERMINA MARINE LIMITED AND AMT
MANAGEMENT LTD DATED 27TH
NOVEMBER 2008 FOR THE VESSEL NORDANVIND BEING AS INTEGRAL PART OF SUCH
AGREEMENT.
 
 
 21.
 Acknowledgement of acceptance
 
 
 The
Managers have agreed and are familiar with the conditions of the vessel which
have accepted to be taken over temporarily, to navigate until the repair yard,
to effect necessary repairs and commissioning upon completion of
repairs  .The Managers undertake to perform as part of its Management
Services the duties and obligations of the Owners under the repair specification
as if such duties and obligations were specifically set forth herein as duties
and obligations of the Managers .
 
 22. 
Vessels Casualties
 
 
 Master
and/or Managers shall inform Owners immediately by e-mail ,telefax,if any
situation occurs which results ,or is likely to result in significant delays for
the Vessel because of damages to the Vessel or its machine systems ,including
but not limited to ,failure of inert gas system ,cargo systems or delays from
proceeding to assistance to other vessels ,or damages to cargo , or in
pollution  , oil spill and/or oil discharge.
 
 
 23. 
Communicartions
 
 All
communication under this Agreement shall be in the English language
 
 
 
 24.  
Assignment Clause
 
 The
Owners may assign all of their rights under this Agreement to any mortgagee of
the vessel provides that such assignment shall not otherwise prejudice the
rights of the Managers to terminate this Agreement in accordance with Clauses
18.1 of this Agreement ,save for the notice period. Upon satisfaction of the
conditions set forth above ,Managers hereby agree to enter into acknowledgement
of such assignment in such form as the mortgagee may reasonably require
..
 
 
 25. 
Third  Party Rights
 
 Except as
may be otherwise agreed in writing by the parties with any third party , a
person who is not a party to this Agreement may no enforce or otherwise have a
benefit of ,any provisions if this Agreement under the Contracts n(Rights of
Third
  
  Parties)
Act 1999, and ,without limitation , no consent of ant such person shall be
required for the rescission or amendment of this Agreement ,but this does not
affect any right or remedy of a third party which exists or is available apart
from that Act.
 
 
 
 26. 
Indemnification
 
 The
Managers hereby undertake to indemnify the Owners against the consequences of
any failure by Managers to comply with the requirement of this Agreement
including any claims made by the third parties against the Owners resulting from
the gross negligence or willful misconduct o the Managers in the performance of
their obligations under this Agreement (including  as set out in
Clause 21 hereof ,the obligations of the Managers under the Third
Parties);provided that Managers indemnification for environmental matters shall
not extend beyond the protection and indemnity coverage with respect to the
Vessel required hereunder
 
 27. 
For expenses and major repair work estimated to exceed USD 15.000(or the
equivalent in foreign currency) the Manager will consult with Owners before
placing orders if the expenses are not included in the budget or not required
for compliance with statutory and classification requirements.
 
 
 28. 
Attend the vessel by the Manager's qualified superintendent to carry out routine
ship visits and supervise scheduled routine dry0dockings and repairs ,such
attendance being limited to 15 (fifteen) –days out of office per year. Any
additional days required would be charged at USD 250/- per day plus
accommodation and victualling
 
 Furthermore
, it is agreed that if accidents , major repair works or other extraordinary
circumstances increase Managers workload beyond what could have been reasonably
expected ,the Owner will pay a reasonable additional remuneration to the Manager
taking into consideration any superintendence attendance fee recovered from
underwriters.
 
 ANNEX A-
Description of Vessel
 
 
 Name:   Nordanvind
 IMO
No:   9037123
 Type:    Oil
Tanker
 Flag:       
Venezuelan
 Built
(where/when):    GalatiRamania/ 2000
 Class:
                       
Bureau Veritas
 Tonnage:                   
39.768
 
 
 Annex
B  -  Time Charter (To be provided by the
owners)
 
 Annex C
-   Initial Budget –Presented separately and
approved