Exhibit 10.26


 


This Indemnification Agreement
(this “Agreement”) is made as of [•], 2014 by and between Costamare Partners LP, a Marshall Islands limited
partnership (the “Partnership”), and [•] (the “Indemnitee”).


 


WHEREAS it is essential to the Partnership to retain
and attract as Directors and Officers the most capable persons available,


 


WHEREAS as of [●], the Indemnitee was appointed
as [●] of the Partnership,


 


WHEREAS the Amended and Restated Partnership Agreement
of the Partnership (the “Partnership Agreement”) requires indemnification of the Directors and Officers of the
Partnership to the fullest extent permitted under the Limited Partnership Act of The Republic of the Marshall Islands, as amended,
supplemented or restated from time to time, and any successor to such statute, except in matters involving fraud or dishonesty
on the part of such persons,


 


WHEREAS it is the express policy of the Partnership to
indemnify their Directors and Officers so as to provide them with the maximum possible protection permitted by law, and


 


WHEREAS the Partnership does not regard the protection
available to the Indemnitee as adequate in the present circumstances, and realizes that the Indemnitee may not be willing to serve
as a Director and/or Officer without adequate protection, and the Partnership desires the Indemnitee to serve in such capacity;


 


NOW, THEREFORE, in consideration of the Indemnitee’s
service as a [●] of the Partnership, the parties agree as follows:


 


		1.	Definitions 



 


1.1 As used in this Agreement:


 


(a) The term “Proceeding”
shall include any contingent, threatened, pending or completed action, suit or proceeding, whether brought by or in the right of
the Costamare Inc., a corporation incorporated under the laws of the Republic of the Marshall Islands and parent of the Partnership
(the “Company”), the Partnership or otherwise and whether of a civil, criminal, administrative or investigative
nature;


 


(b) The term “Expenses”
shall include, but is not limited to, (i) expenses of investigations, judicial or administrative Proceedings or appeals, (ii) damages,
judgments, fines, amounts paid in settlement by or on behalf of the Indemnitee, (iii) attorneys’ fees and disbursements and
(iv) any expenses of establishing a right to indemnification under this Agreement; and


 


(c) The terms “Director”
and “Officer” shall include the Indemnitee’s service at the request and for the benefit of the Partnership
as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other



    	 



    	



    

 enterprise, including
Costamare Partners GP LLC, as well as a Director and/or Officer of the Partnership.


 


		2.	Indemnity of Director and/or Officer 



 


Subject only to the limitations set forth
in Section 3, the Partnership will pay to, for the benefit of or on behalf of the Indemnitee all documented Expenses actually and
reasonably incurred by the Indemnitee because of any claim or claims made against him in a Proceeding by reason of the fact that
he will be, or is or was a Director and/or Officer for or on behalf of the Partnership. The Partnership will also pay all such
Expenses relating to the Indemnitee’s acting as a witness in a Proceeding and in respect of any Proceeding relating to this
Agreement or with respect to the Indemnitee’s entitlement to indemnification by the Company or by the Partnership pursuant
to the Partnership Agreement or any statute, rule or otherwise.


 


		3.	Limitations on Indemnity



 


3.1 The Partnership shall not be
obligated under this Agreement to make any payment of Expenses to the Indemnitee:


 


(a) if such payment is prohibited by applicable
law;


 


(b) for which payment is actually made
to the Indemnitee under an insurance policy, except in respect of any excess beyond the amount of payment under such insurance;


 


(c) for which payment the Indemnitee is
indemnified by the Company or by the Partnership otherwise than pursuant to this Agreement;


 


(d) resulting from a claim decided in
a Proceeding adversely to the Indemnitee based upon or attributable to the Indemnitee gaining in fact any personal profit or advantage
to which he was not legally entitled;


 


(e) brought about or contributed to by
the fraud or dishonesty of the Indemnitee seeking payment hereunder; provided, however, that the Indemnitee shall
be indemnified under this Agreement as to any claims upon which suit may be brought against him by reason of any alleged dishonesty
on his part, unless it shall be decided in a Proceeding that he committed (i) acts of active and deliberate dishonesty, (ii) with
actual dishonest purpose and intent, and (iii) which acts were material to the cause of action so adjudicated.


 


3.2 For purposes of Sections 3
and 4, the phrase “decided in a Proceeding” shall mean a decision by a court or arbitrator, which decision has become
final and from which no appeal or other review proceeding is permissible.


 


		4.	Advance Payment of Costs




    	 



    	



    


4.1 Expenses incurred or to be
incurred by the Indemnitee in defending a claim against him in a Proceeding shall be paid promptly by the Partnership as incurred
or in advance ; provided, however, that Expenses of defence need not be paid as incurred and in advance where it
is decided in a Proceeding that the Indemnitee is not entitled to be indemnified pursuant to this Agreement.


 


4.2 The Indemnitee hereby agrees
and undertakes to repay such amounts advanced if it shall be decided in a Proceeding that he is not entitled to be indemnified
by the Partnership pursuant to this Agreement or otherwise. The Indemnitee shall not be required to post bond or other security
to support this undertaking.


 


		5.	Enforcement



 


If a claim under this Agreement is not paid
by the Partnership, or on its behalf, within 10 business days after a written claim has been received by the Partnership, the Indemnitee
may at any time thereafter bring suit against the Partnership to recover the unpaid amount of the claim and if successful in whole
or in part, the Indemnitee shall also be entitled to be paid the Expenses of prosecuting such claim.


 


		6.	Subrogation



 


In the event of payment under this Agreement,
the Partnership shall be subrogated to the extent of such payment to all of the rights of recovery of the Indemnitee, who shall
execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such
documents necessary to enable the Partnership effectively to bring suit to enforce such rights.


 


		7.	Insurance



 


The Partnership shall maintain an insurance
policy providing directors’ and officers’ liability insurance in such amounts as the Partnership shall reasonably determine
to be prudent for similarly situated companies whose securities are listed on the New York Stock Exchange, and the Indemnnitee
shall be entitled to coverage under the insurance policy up to the maximum coverage made available for any director or officer
of the Partnership.


 


		8.	Partnership Assumption of Defence



 


The Partnership shall be entitled to participate
in the defence of any Proceeding or to assume the defence thereof; provided, however, that the Indemnitee will be
entitled to retain separate counsel (but not more than one law firm plus, if applicable, local counsel in respect of any particular
Proceeding) at the Partnership’s expense subject to the other terms and conditions of this Agreement.


 


		9.	Notice



 


9.1 The Indemnitee, as a condition
precedent to his right to be indemnified under this Agreement, shall give to the Partnership notice in writing as soon as



    	 



    	



    

practicable
of any claim made against him for which indemnity will or could be sought under this Agreement, together with such information
and cooperation as it may reasonably require.


 


9.2 Notice to the Partnership shall
be given at its principal office and shall be directed to the Partnership’s Secretary (or such other address as the Partnership
shall designate in writing to the Indemnitee).


 


9.3 Notice shall be deemed received
if sent by prepaid mail properly addressed, the date of such notice being the date postmarked.


 


		9.	Saving Clause



 


If this Agreement or any portion thereof
shall be invalidated on any ground by any court of competent jurisdiction, the Partnership shall nevertheless indemnify the Indemnitee
to the full extent permitted by any applicable portion of this Agreement that shall not have been invalidated or by any other applicable
law.


 


		10.	Indemnification Hereunder Not Exclusive



 


Nothing herein shall be deemed to diminish
or otherwise restrict the Indemnitee’s right to indemnification under any provision of the constitutional documents of the
Company or the Partnership, under Marshall Islands law or under any contract or agreement or otherwise.


 


		11.	Applicable Law



 


The terms and conditions of this Agreement
and the rights of the parties hereunder shall be governed by and construed in all respects in accordance with the laws of the Republic
of the Marshall Islands. The parties to this Agreement hereby irrevocably agree that the Court of Chancery of the State of Delaware
(or, if such court does not have subject matter jurisdiction thereof, any other court located in the State of Delaware with subject
matter jurisdiction), unless otherwise provided for by Marshall Islands law, shall have exclusive jurisdiction in respect of any
dispute, suit, action, arbitration or proceedings which may arise out of or in connection with this Agreement and waive any objection
to such proceedings in the Court of Chancery of the State of Delaware (or, if such court does not have subject matter jurisdiction
thereof, any other court located in the State of Delaware with subject matter jurisdiction), unless otherwise provided for by Marshall
Islands law, on the grounds of venue or on the basis that they have been brought in an inconvenient forum.


 


		12.	Changes in Law



 


In the event that a change in applicable
law after the date of this Agreement, whether by statute, rule or judicial decision, expands or otherwise increases the right or
ability of a Marshall Islands limited partnership to indemnify (or to otherwise pay or advance Expenses as to any Proceeding for
the benefit of) a member of its board of directors or an officer of the Partnership, the Indemnitee shall, by this Agreement, enjoy



    	 



    	



    

the greater benefits so afforded by such change. In the event that a change in applicable law after the date of this Agreement,
whether by statute, rule or judicial decision, narrows or otherwise reduces the right or ability of a Marshall Islands limited
partnership to indemnify (or to otherwise pay or advance Expenses as to any Proceeding for the benefit of) a member of its board
of directors or an officer of the Partnership, such change shall have no effect on this Agreement or any of the Indemnitee’s
rights hereunder, except and only to the extent required by law.


 


		13.	Counterparts



 


This Agreement may be executed in any number
of counterparts, each of which shall constitute the original.


 


		14.	Successors and Assigns



 


This Agreement shall be binding upon the
Partnership and its successors and assigns.


 


		15.	Continuation of Indemnification



 


The indemnification under this Agreement
shall continue as to the Indemnitee even though he may have ceased to be a Director and/or Officer and shall inure to the benefit
of the heirs and personal representatives of the Indemnitee.


 


		16.	Coverage of Indemnification



 


The indemnification under this Agreement
shall cover the Indemnitee’s service as a Director and/or Officer prior to or after the date of the Agreement.


 


AGREED by the Parties through their authorised signatories on
the date first written above:


 


For, and on behalf of


 


Costamare Partners LP


 


	By	 	 	 
	 	[•]	 	[•]