Exhibit 10.21


Dated
as of February 1, 2010


GASLOG MONACO S.A.M.


and


CERES MONACO S.A.M.


SERVICE LEVEL AGREEMENT






THIS AGENCY AGREEMENT is dated as of February 1, 2010


BETWEEN:


	
 

	
 


	
 (1)

	
GASLOG
MONACO S.A.M, a company incorporated under the laws of the
Principality of Monaco and having its office at Gildo Pastor Center, Bloc A, Office 10.2, 7 Rue du Gabian, MC 98000
Monte Carlo, Monaco (hereinafter referred to as “the Client”)


	
 (2)

	
CERES
MONACO S.A.M, a company incorporated under the laws of the
Principality of Monaco and having its office at Gildo Pastor Center, Bloc A, Office 10.2, 7 Rue du Gabian, MC 98000 Monte Carlo,
Monaco (hereinafter referred to as “the Agent”)





WHEREAS:


	
 

	
 


	
A.

	
The Client wish to
delegate certain duties to the Agent upon the terms hereinafter set forth in
order for the latter to assist the Client in the efficient management and
administration of matters within the context of their activities;


	
 

	
 


	
B.

	
The Agent is willing to
accept employment as agent for the Client.





NOW IT
IS HEREBY MUTUALLY AGREED as follows:


1. Employment of Agent and Acceptance of Employment


The Client hereby appoint
the Agent and the Agent hereby accepts its appointment to act as the Clients’
Agent upon the terms hereinafter set forth with effect as of the date hereof.


2.
Responsibilities


The Agent shall (except
as the Client may from time to time otherwise instruct the Agent) act as the
agent of the Client in the provision of the services specified hereunder in
relation to the Client and shall have power to do all things which may be
expedient or necessary for the provision of the said services or any of them:


	
 

	
 


	
(i)

	
to conduct market
research on specific issues, seek and refer to the Clients’ enquiries about
the development and expansion of their business activities and transmit communications
about potential developments, in accordance with the instructions of the
Client; and/or


	
 

	
 


	
(ii)

	
provide the Client with
marine support services


	
 

	
 


	
(iii)

	
provide consultancy
services and promote the Client’s business relations, as the Client may from
time to time specifically require.





3.
Performance of Duties





The Agent hereby
undertakes to conduct its business in accordance with the highest standards and
not to perform any act which will adversely affect upon the business integrity
or the good will of the Client.


4.
Remuneration and Reimbursement of Expenses


The Agent shall be
entitled to remuneration for its services hereunder consisting of:


	
 

	
 


	
a)

	
an amount of Euro
Twenty Seven Thousand (Euro 27,000) per month, payable in advance upon submission
by the Agent of the relevant invoice to be issued by the Agent on a monthly
basis; Parties may mutually agree on a additional lump-sum payment at
year-end in order to cover extraordinary costs of the Agent.


	
 

	
 


	
b)

	
such remuneration for
the consultancy services at the rate of Euro Three Hundred (Euro 300) per
hour, payable upon submission by the Agent of the relevant invoice; and


	
 

	
 


	
c)

	
such remuneration for
any further or extraordinary services rendered at the Client’s request at the
rate of Euro Two Hundred (Euro 200) per hour, payable upon submission by the
Agent of the relevant invoice;.





The Agent shall keep
proper accounts and supporting vouchers relating to the performance of the
services hereunder and shall make the same available to the Client upon request
at any time.


The Agent shall at its
own cost and expense provide all office accommodation, equipment, stationery,
telephone, facsimile and staff required for the provision of the services
hereunder.


5. Non
competition


The Agent shall devote such
time and attention to the agency services as is consistent with satisfactory
fulfillment of its obligations and performance duties hereunder but shall not
be restricted from performing agency services for other entities.


6. Indemnity


The Client hereby
undertake to keep the Agent indemnified and to hold it harmless against all
actions, proceedings, claims, demands or liabilities whatsoever which may be
brought against or incurred by the Agent by reason of its employment hereunder
and against all costs, expenses, damages and losses which the Agent may sustain
or incur in defending or settling same except and to the extent that any such
costs, expenses, liabilities and losses sustained or incurred arise out of or
result from the breach of any of the obligations of the Agent under this
Agreement or gross negligence on the part of the Agent or its employees.


The Agent hereby
undertakes to indemnify and hold harmless the Client for any losses, claims,
damages, demands, costs or penalties arising directly or indirectly out





of any act or omission or
negligence of the Agent or its employees in the performance of the services
rendered hereunder unless such loss or damage resulted from the gross
negligence or default of the Client or their employees.


7. Term


The appointment of the
Agent shall commence and take effect from the date hereof and shall (subject as
hereinafter provided) continue for a period of twelve (12) months and shall
continue for a subsequent twelve (12) months period thereafter unless and until
terminated by either party giving to the other notice in writing to terminate
the same in which event the appointment shall terminate upon the expiration of
one (1) month from the date upon which such notice was given. Upon termination,
except as described in Clause 8, the Client shall pay to the Agent Remuneration
as in Clause 4 (a) above for two (2) months. Such Remuneration may be waived on
mutual agreement of the parties.


8.
Termination


The appointment of the
Agent hereunder shall terminate with immediate effect (but without prejudice to
the accrued rights of either party hereunder) if any of the following events
occurs:


	
 

	
 


	
a)

	
the Agent defaults in
the observance or performance of any of its duties or obligations under this
Agreement and such default is not remedied to the satisfaction of the Client
within thirty (30) days after notice of such default has been given to the
Agent by the Client; and/or


	
 

	
 


	
b)

	
an order is made or an
effective resolution is passed for the winding up of the Agent or the Agent
stops or threatens to stop making payments or ceases to carry on the whole or
a substantial part of its business; and/or


	
 

	
 


	
c)

	
an encumbrancer takes
possession or a receiver or similar officer of the Agent is appointed in
respect of the whole or any material part of the undertakings and assets of
the Agent.





For the avoidance of
doubt, in the event that the employment of the Agent is terminated for any
reasons set out in this Clause 8, the Agent shall not be entitled to receive
any payment from the Client (except from remuneration for services rendered
and/or expenses incurred prior to termination).


9. No
partnership


Nothing herein contained
shall be construed as to constitute a joint venture or partnership between the
parties.


10.
Assignment


Neither party hereto
shall have the right to assign this Agreement without the prior written consent
of the other party.






11. Confidentiality


Save as may be required by law, the Agent shall not,
without the prior written consent of the Client, at any time divulge any
confidential information in relation to the Clients’ affairs or business or methods of
carrying out business which may from time to time come into the Agent’s possession. This
obligation shall survive the termination of this Agreement howsoever and whenever
occurring.


12. Rights of Third Parties


A person who is not a party to this Agreement has no right
under the Contracts (Rights
of Third Parties) Act 1999 to enforce or to enjoy the benefit of any term of this Agreement.


13. Law


This
Agreement shall be governed by and construed in accordance with English law.


14. Settlement of Disputes


Any and all disputes and differences arising out of or in
connection with this Agreement,
which cannot be settled by the parties themselves, shall be settled in Geneva, Switzerland, under the Rules of
Conciliation and Arbitration of the International
Chamber of Commerce (ICC) by one or more arbitrators in accordance with the
said Rules; the language of the conciliation and arbitration proceedings shall be English.


IN WITNESS WHEREOF the parties have caused
this Agreement to be duly executed the day and year first above written.


	 
	 
	 

	SIGNED by
	)
	
       
    

	/s/ Henrik Bjerregaard       
	)
	 
	 

	Mr. Henrik Bjerregaard
	)
	 
	 

	for and on behalf of
	)

	GASLOG MONACO S.A.M.
	)

	in the presence of:
	)

	(Signature)
	 

	 
	 
	 

	SIGNED by 
	)
	
       
    

	/s/ Yannis Haramis               
	)
	 
	 

	Mr. Yannis Haramis
	)
	 
	 

	for and on behalf of
	)

	CERES MONACO S.A.M.
	)

	in the presence of:
	)

	(Signature)
	 
	 

	 
	 
	 

	 
	 
	 










ADDENDUM
NO. 1 dated 1st October 2011

TO

THE SERVICE LEVEL AGREEMENT

DATED 1st February 2010


ADDENDUM to the Service Level Agreement entered on the 1st February
2010, BETWEEN:


	
  

 	
  

 	
  

 	
  

 
	
  

 	
 1)

 	
 GASLOG MONACO S.A.M., a company incorporated under the laws of the Principality of
 Monaco and having its office at Gildo Pastor Center, Bloc A, Office 10.2, 7
 rue du Gabian, MC 98000 Monte Carlo, Monaco (hereinafter referred to as “the
 Client”);

 	
  

 
	
  

 	
 2)

 	
 CERES MONACO S.A.M., a Company incorporated under the Laws of the Principality of
 Monaco and having its office at Gildo Pastor Center, Bloc A, Office 10.2, 7
 rue du Gabian, MC 98000 Monte Carlo, Monaco (hereinafter referred to as “the
 Agent”)

 	
  

 


All
the above shall be hereinafter referred to as the “Parties” when mentioned all
together and as “Party” if anyone of them is mentioned.


WHEREAS


	
  

 	
  

 
	
  

 	
 A)
 The Client and the Agent executed the Service Level Agreement dated 1st
 February 2010 (hereinafter called the “Service Level Agreement”);

 
	
  

 	
  

 
	
  

 	
 B)
 The Client and the Agent desire to proceed with the definition of an
 adjustment to the remuneration fee, in accordance with the terms and
 conditions of Clause 4 of the Service Level Agreement.

 



IT IS HEREBY AGREE AS
FOLLOWS


	
  

 	
  

 	
  

 	
  

 
	
  

 	
 •

 	
 Clause 4 a) shall be
 replaced with effect from today by the new clause 4 a) as follows:

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 a)

 	
 an
 amount of Euro Thirty One Thousand and Eight Hundred and Fifty (Euro 31,850)
 per month, payable in advance upon submission by the Agent of the relevant
 invoice to be issued by the Agent on a monthly basis; Parties may mutually
 agree on a additional lump-sum payment at a year-end in order to cover
 extraordinary costs of the Agent.

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
 •

 	
 All
 the other terms, conditions and exceptions of the Service Level Agreement
 shall remain unaltered and in full force and effect. Two originals of this
 Addendum are made, signed and possessed by each Party.

 






	
  

 	
  

 	
  

 
	
 Dated this 1st
 October 2011

 	
  

 	
  

 
	
  

 	
  

 	
  

 
	
 SIGNED BY

 	
  

 	
 SIGNED BY 

 
	
 for and on behalf of

 	
  

 	
 for and on behalf of
 

 
	
 GASLOG MONACO S.A.M

 	
  

 	
 CERES MONACO S.A.M 

 
	
  

 	
  

 	
  

 
	
 /s/ Henrik Bjerregaard

 	
  

 	
 /s/ Yannis Haramis

 
	

 


 	
  

 	

 


 
	
 Name : HENRIK BJERREGAARD

 	
  

 	
 Name : Yannis Haramis

 
	
 Title : DIRECTOR

 	
  

 	
 Title : Director

 









ADDENDUM
NO. 2 dated 1st December 2011

TO

THE SERVICE LEVEL AGREEMENT

DATED 1st February 2010


ADDENDUM to the Service Level Agreement entered on the 1st February
2010, BETWEEN:


	
  

 	
  

 	
  

 	
  

 
	
  

 	
 1)

 	
 GASLOG MONACO S.A.M., a company incorporated under the laws of the Principality of
 Monaco and having its office at Gildo Pastor Center, Bloc A, Office 10.2, 7
 rue du Gabian, MC 98000 Monte Carlo, Monaco (hereinafter referred to as “the
 Client”);

 	
  

 
	
  

 	
 2)

 	
 CERES MONACO S.A.M., a Company incorporated under the Laws of the Principality of
 Monaco and having its office at Gildo Pastor Center, Bloc A, Office 10.2, 7
 rue du Gabian, MC 98000 Monte Carlo, Monaco (hereinafter referred to as “the
 Agent”)

 	
  

 


All
the above shall be hereinafter referred to as the “Parties” when mentioned all
together and as “Party” if anyone of them is mentioned.


WHEREAS


	
  

 	
  

 
	
  

 	
 A)
 The Client and the Agent executed the Service Level Agreement dated 1st
 February 2010 (hereinafter called the “Service Level Agreement”);

 
	
  

 	
  

 
	
  

 	
 B)
 The client and the Agent desire to proceed with the definition of an
 adjustment to the remuneration fee, in accordance with the terms and
 conditions of Clause 4 of the Service Level Agreement.

 



IT IS HEREBY AGREE AS FOLLOWS


	
  

 	
  

 	
  

 	
  

 
	
  

 	
 •

 	
 Clause 4 a) shall be
 replaced with effect from today by the new clause 4 a) as follows:

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 a)

 	
 an
 amount of Euro Thirty Six Thousand and Eight Hundred and Fifty (Euro 36,850)
 per month, payable in advance upon submission by the Agent of the relevant
 invoice to be issued by the Agent on a monthly basis; Parties may mutually
 agree on a additional lump-sum payment at a year-end in order to cover
 extraordinary costs of the Agent.

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
 •

 	
 All
 the other terms, conditions and exceptions of the Service Level Agreement
 shall remain unaltered and in full force and effect. Two originals of this
 Addendum are made, signed and possessed by each Party.

 






	
  

 	
  

 	
  

 
	
 Dated this 1st
 December 2011

 	
  

 	
  

 
	
  

 	
  

 	
  

 
	
 SIGNED BY

 	
  

 	
 SIGNED BY 

 
	
 for and on behalf of

 	
  

 	
 for and on behalf of
 

 
	
 GASLOG MONACO S.A.M

 	
  

 	
 CERES MONACO S.A.M 

 
	
  

 	
  

 	
  

 
	
 /s/ Henrik Bjerregaard

 	
  

 	
 /s/ Yannis Haramis

 
	

 


 	
  

 	

 


 
	
 Name : HENRIK BJERREGAARD

 	
  

 	
 Name : Yannis Haramis

 
	
 Title : DIRECTOR

 	
  

 	
 Title : Director