Addendum No. 3, to a Drillship Master Agreement



 Exhibit 10.35 
 ADDENDUM No. 3 
 Dated April 2, 2012 

to a Drillship Master Agreement dated November 22, 2010 
 as novated by a Novation Agreement dated December 30, 2010 
 and further as
amended by an Addendum No. 1 dated May 16, 2011 
 and further as amended by an Addendum No. 2 dated
January 27, 2012 
 (“the Drillship Master Agreement”) 

This Addendum No. 3 is made on this 2nd day of April 2012 by and between: 

 

	 	1)	 SAMSUNG HEAVY INDUSTRIES CO. LTD, a corporation of Korea, having its registered office at 34th floor, Samsung Life Insurance Seocho Tower 1321-15 Seocho-Dong,
Seocho-Gu, Seoul, Korea 137-857 (hereinafter referred to as “Samsung”); and 


  

	 	2)	OCEAN RIG UDW INC. of Majuro, Marshall Islands, which maintains a shipping office at 80 Kifisias Avenue, GR-15125 Marousi, Athens, Greece (hereinafter
“Ocean Rig”) 

 WHEREAS: 
  

	 	(A)	Pursuant to the terms of the Drillship Master Agreement, Addendum No. 1, and Addendum No. 2, among others it was agreed for the Ocean Rig to have a contractual right
until 2nd April 2012 (the “Option Expiry Date”) to order to Samsung the construction of up to three (3) drillships (the “Drillship A”, “Drillship B” and “Drillship C” and together the
“Drillships”) at the price and specifications set out therein and for the other terms and conditions set out therein. 

  

	 	(B)	Pursuant to the terms of the Drillship Master Agreement, Addendum No. 1, and Addendum No. 2, the delivery dates for the Drillships are as set out in the table below:


  

			
	 Drillship
	  	 Delivery Date

	 Drillship A
	  	4th quarter 2014
	 Drillship B
	  	To be advised by Samsung at its reasonable discretion declaring the earliest available date based on their production schedule, always acting in good faith when doing
so
	 Drillship C
	  	To be advised by Samsung at its reasonable discretion declaring the earliest available date based on their production schedule, always acting in good faith when doing
so

  

	 	(C)	Samsung and Ocean Rig have now agreed for the Option Expiry Date to be extended to 4th October 2012. 








 NOW THEREFORE, for good and valuable consideration receipt of which is hereby acknowledged,
the Parties hereto hereby agree as follows: 
  

	1.	Option Exercise Deadline 

 The Option Expiry Date for the declaration of each one of the options for the construction of Drillship A, Drillship B and Drillship C is hereby extended to 4th October 2012 (the “New Option
Expiry Date”). 
  

	2.	Delivery Date(s) 

 The new
delivery date(s) of the Drillships are hereby amended to be as per the table below: 
  

			
	 Drillship
	  	 Delivery Date

	 Drillship A / Drillship B / Drillship C
	  	To be advised by Samsung at its reasonable discretion declaring the earliest available date based on their production schedule, always acting in good faith when doing
so

  

	3.	Confidentiality 

 The
Parties hereto undertake to keep the existence of this Agreement and the terms hereof strictly confidential, and shall not disclose same to any third parties without express prior written consent from the other party unless disclosing party
demonstrates that such disclosure is required to comply with the applicable laws and regulations. 
 Save as amended and restated by this
Addendum No. 3 the provisions of the Drillship Master Agreement, Addendum No. 1, and Addendum No. 2 shall continue in full force and effect and the Drillship Master Agreement, Addendum No. 1, Addendum No. 2 and this Addendum No. 3 shall be
read and construed as one instrument. 
 IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the date first above
written. 
  

									
	For and on behalf of	 		 	For and on behalf of the Builder
	OCEAN RIG UDW INC.	 		 	SAMSUNG HEAVY INDUSTRIES CO., LTD.
			
	 /s/ Iraklis Sbarounis
	 		 	 /s/ Dong Jin Oh

	By:	 	 Iraklis Sbarounis 
	 		 	By:	 	 Dong Jin Oh 

	Title:	 	 Attorney-In-Fact
	 		 	Title:	 	 Attorney-In-Fact