Exhibit 10.14

 


	

    	
AMENDMENT TO   SUBSCRIPTION AGREEMENT THIS AMENDMENT TO SUBSCRIPTION AGREEMENT (this   “Amendment”) is dated as of May 7, 2015 and is entered into by and among   General Maritime Corporation (“Issuer”) and OCM Marine Holdings TP, L.P.   (“Purchaser” or “Oaktree”), and is made with reference to that certain   Subscription Agreement, dated as of March 21, 2014 by and among the Issuer   and Oaktree (the “Subscription Agreement”). Capitalized terms used, but not   defined herein, shall have the meaning given in the Subscription Agreement.   RECITALS WHEREAS, the parties to this Amendment (i) constitute the requisite   parties to the Subscription Agreement required to amend the Subscription   Agreement and (ii) desire to provide their written consent to amend and   modify the Subscription Agreement as set forth in this Amendment. NOW,   THEREFORE, in consideration of the promises and the agreements, provisions   and covenants herein contained, the parties hereto agree as follows: SECTION   I. AMENDMENTS TO SUBSCRIPTION AGREEMENT A. Section 1(f) of the Subscription   Agreement is hereby amended and restated in its entirety as follows:   “Notwithstanding anything to the contrary in the Shareholders’ Agreement or   the Charter, except in connection with an Approved Sale (as defined in the   Charter) and except as otherwise consented to by the Issuer, (a) from the   date hereof through the consummation of the first underwritten public   offering by the Issuer registered under the Securities Act after May 17, 2012   (the “IPO”), the Purchaser shall not, and each of its respective transferees   and any subsequent transferees shall not, directly or indirectly, transfer,   sell, assign or otherwise dispose of any interest in any Issued Shares to any   Competitor, and each transferee of any Issued Shares shall, concurrent with   and as a condition precedent to, any transfer of Issued Shares, execute and   deliver to the Issuer a joinder agreement to this Section 1(f), and (b) at   any time following the consummation of the IPO, the Purchaser shall not, and   each of its respective transferees and any subsequent transferees shall not,   directly or indirectly, transfer, sell, assign or otherwise dispose of any   interest in any Issued Shares to any person known by the Purchaser, each of   its respective transferees and any subsequent transferees, as the case may   be, to be a Competitor.” B. Section 3(e) of the Subscription Agreement is   hereby amended by deleting the first paragraph thereof in its entirety and   replacing it as follows:  
    




 









	

    	
“Purchaser   understands that, except as otherwise consented to by the Issuer, the Issued   Shares and any securities issued in respect of or exchange for the Issued   Shares may bear one or all of the following legends:” SECTION II.   MISCELLANEOUS A. Reference to and Effect on the Subscription Agreement. i. On   and after the date hereof, each reference in the Subscription Agreement to   “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import   referring to the Subscription Agreement shall mean and be a reference to the   Subscription Agreement as amended by this Amendment. ii. Except as   specifically amended by this Amendment, the Subscription Agreement shall   remain in full force and effect and is hereby ratified and confirmed. B.   Consent. In addition to the other agreements set forth herein, by entering   into this Amendment, the Shareholder consents, including pursuant to Section   8(f) of the Subscription Agreement, to any amendments, modifications or   waivers of or in respect of the Subscription Agreement set forth herein.   Entry by a person into this Amendment shall not be deemed to be an admission   by any person that the Shareholder’s consent was needed for the effectiveness   of this Amendment. C. Headings. Section headings used herein are for   convenience of reference only, are not part of this Amendment and shall not   affect the construction of, or be taken into consideration in interpreting,   this Amendment. D. Applicable Law, Miscellaneous. THIS AMENDMENT SHALL BE   CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF DELAWARE.   THE PROVISIONS OF SECTIONS 5, 6 AND 7 OF THE SUBSCRIPTION AGREEMENT ARE   INCORPORATED BY REFERENCE HEREIN AND MADE A PART HEREOF, MUTATIS MUTANDIS. E.   Counterparts. This Amendment may be executed in any number of counterparts   (and by different parties hereto on different counterparts), each of which   shall constitute an original, and all of which when taken together shall   constitute a single contract. Delivery of an executed counterpart of a   signature page of this Amendment by facsimile or other electronic transmission   (e.g., a “pdf” or “tif”) shall be effective as delivery of a manually   executed counterpart of this Amendment. [Remainder of this page intentionally   left blank.] - 2 - 
    




 









	

    	
IN WITNESS   WHEREOF, the parties have caused this Amendment to be duly executed and   delivered, all as of the d ate first set for t h above. ISSUER: GENERAL   MARITIME CORPORATION By: hfaillL· Name: Title: [Signature Page to Amendment   to Subscription Agreement] 
    




 









	

    	
OAKTREE: OCM   MARINE HOLDINGS TP, L.P. By: OCM Marine GP CTB, Ltd. Its: General Partner By:   Oaktree Capital Management, L.P. co A.c:-.. Its: Director - By: Name: Title:   -= ----------------By: Name: Adam Pierce Managing Director Title: [Signature   Page to Amendment to Subscription Agreement]