| (1)   | FRONTLINE LTD. (the      "Guarantor"); |
|-----------------|----------------------------------------|

| (2)   | SHIP FINANCE INTERNATIONAL      LIMITED (the "Company");      and |
|-----------------|-------------------------------------------------------------------|

| (3)   | Each of the Owners (as      defined in the Agreement (which term is defined in Recital (B)      below)). |
|-----------------|----------------------------------------------------------------------------------------------------------|

| (A)   | The      Guarantor has issued the Performance Guarantee for the performance of      certain obligations of its wholly owned subsidiaries Frontline Shipping      Limited under certain time charters and Frontline Management (Bermuda)      Ltd. Under certain management agreements and an administrative services      agreement. |
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|   |   |
|--------|--------|

| (B)   | The      Parties, among others, are parties to a charter ancillary agreement dated      1 January 2004, as amended by an addendum no. 1 thereto dated 15 June      2004, an addendum no. 2 thereto dated 3 February 2005, an addendum no. 3      thereto dated 21 August 2007 and an addendum no. 4 thereto as of the date      hereof (together, the "Agreement"). |
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| (C)   | The      Parties have, in the addendum no. 4 to the Agreement, agreed to make      certain changes to the Performance Guarantee and the Parties have      consequently agreed to enter into this Amendment no. 4 in order to      document the same. |
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| 1.   | DEFINITIONS |
|----------------|-------------|

| 2.   | AMENDMENTS |
|----------------|------------|

| (i)   | the      definition of "Charter      Ancillary Agreement" in Recital C shall be amended by adding "as amended by an addendum no.      1 thereto dated 15 June 2004, an addendum no. 2thereto dated 3 February 2005,      an addendum no. 3 thereto dated 21 August 2007 and an addendum no. 4      thereto dated [●] March2010."; |
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| (ii)   | the      definition of "Guaranteed Obligations"      shall be deleted and replaced by thefollowing: |
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| (iii)   | the      definition of "Relevant Documents" shall be amended by deleting "the Management Agreements and      the Administrative ServicesAgreement"; |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| (iv)   | "certain" shall be      replaced with "the" under item (i) of      Recital (G) of the Performance Guarantee and the references to the      Management Agreement and the Administrative Service Agreement shall be      deleted from the same Recital, so that this provision shall      read: |
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| (v)   | Section      2.1 (a) of the Performance Guarantee shall be amended by deleting "provided, however, that this      Guarantee shall not extend to the payment of Charter Hire;" and      adding "including      without limitation the payment of Charter Hire", so that the      provision shall read: |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (vi)   | Section      2.1 (b) and (c) shall be deleted and replaced by Section 2.1 (d) and (e)      which shall thereafter serve as the new Section 2.1 (b) and      (c). |
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| 3.   | MISCELLEANEOUS |
|----------------|----------------|

|  EXECUTED as a deed      byfor      and on behalf ofSHIP      FINANCE INTERNATIONAL LIMITED   ____________________________________Signature ____________________________________Name      with block letters |  EXECUTED as a deed      byfor      and on behalf ofFRONTLINE      LTD.   ____________________________________Signature ____________________________________Name      with block letters |
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|   In      the presence of:  ____________________________________Signature ____________________________________Name      with block letters  EXECUTED as a deed      byfor      and on behalf ofFRONT      PRIDE SHIPPING INC.FRONT      SPLENDOUR SHIPPING INC.FRONT      GLORY SHIPPING INC.FRONT      ARDENNE INC.BOLZANO      PRIVATE LIMITEDFRONT      BRABANT INC.GOLDEN      SEAWAY CORP.GOLDEN      FJORD CORP.GOLDEN      ESTUARY CORP.FRONT      OPALIA INC.GOLDEN      TIDE CORP.FRONT      SCILLA INC.ARIAKE      TRANSPORT CORPORATIONFRONT      STRATUS INC.FRONT      SAGA INC.FRONT      SERENADE INC.FRONT      FALCON CORP.HITACHI      HULL 4983 LTD.FRONT      LAPAN PRIVATE LIMITEDTRANSCORP      PTE LTDBONFIELD      SHIPPING LIMITEDFRONT      SEMBILAN PRIVATE LIMITEDKATONG      INVESTMENTS LIMITEDASPINALL      PTE LTDRETTIE      PTE LTDBLIZANA      PTE LTD    ____________________________________Signature ____________________________________Name      with block letters  In      the presence of:  ____________________________________Signature ____________________________________Name      with block letters  |   In      the presence of:  ____________________________________Signature ____________________________________Name      with block letters    |
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