Document:

EX-10.27

 Exhibit 10.27 

CHOBANI INC. 
 2021
EMPLOYEE STOCK PURCHASE PLAN 
 Effective as of
                , 2021 
  

	1.	 Purpose 

The purpose of this Chobani Inc. 2021 Employee Stock Purchase Plan (the “Plan”) is to provide employees of the Company and its
Designated Subsidiaries with an opportunity to purchase Common Stock through accumulated Contributions. 
  

	2.	 Definitions. 

(a) “Administrator” means the Compensation Committee of the Board (or any successor committee) or such other committee
as designated by the Board to administer the Plan under Section 14. 
 (b) “Applicable
Laws” means the requirements relating to the administration of equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is
listed or quoted and the applicable laws of any foreign country or jurisdiction where options are, or will be, granted under the Plan. 
 (c)
“Board” means the Board of Directors of the Company. 
 (d) “Code” means the Internal Revenue
Code of 1986, as amended from time to time, and the rulings and regulations issued thereunder. 
 (e) “Common Stock”
means the Class A common stock of the Company, $0.001 par value per share. 
 (f) “Company” means Chobani Inc.,
a Delaware public benefit corporation, and any successor corporation. 
 (g) “Compensation” means an Eligible
Employee’s base salary or base hourly rate of pay before deduction for any salary deferral contributions made by the Eligible Employee to any tax-qualified or nonqualified deferred compensation plan, but
excluding commissions, overtime, incentive compensation, bonuses and other forms of compensation. The Administrator, in its discretion, may, on a uniform and nondiscriminatory basis, establish a different definition of Compensation for an Offering
Period. 
 (h) “Contributions” means the payroll deductions and any other additional payments that the Administrator
may permit to be made by a Participant to fund the exercise of options granted pursuant to the Plan. 
 (i) “Designated
Subsidiary” means any Subsidiary that has been designated by the Administrator from time to time in its sole discretion as eligible to participate in the Plan. 

 (j) “Eligible Employee” means any person, including an officer, who
is employed by the Company or a Designated Subsidiary. For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on sick leave or other leave of absence approved by the Company.
“Eligible Employee” shall not include any person who is a citizen or resident of a foreign jurisdiction if granting them an option under the Plan would violate the law of such jurisdiction. 

(k) “Employer” means the Company and each Designated Subsidiary. 

(l) “Enrollment Date” means the first Trading Day of each Offering Period. 

(m) “Exchange Act” means the Securities Exchange Act of 1934, as amended, including the rules and regulations
promulgated thereunder. 
 (n) “Exercise Date” means the last Trading Day of each Offering Period. 

(o) “Fair Market Value” means as of any date, the value of the Common Stock determined as follows: (i) if the
Common Stock is listed on any established stock exchange, system or market, its Fair Market Value shall be the closing price for the Common Stock as quoted on such exchange, system or market as reported in the Wall Street Journal or such other
source as the Administrator deems reliable (or, if no sale of Common Stock is reported for such date, on the next preceding date on which any sale shall have been reported); and (ii) in the absence of an established market for the Common Stock,
the Fair Market Value thereof shall be determined in good faith by the Administrator. 
 (p) “New Exercise Date”
means a new Exercise Date if the Administrator shortens any Offering Period then in progress. 
 (q) “Offering” means
an offer under the Plan of an option that may be exercised during an Offering Period as further described in Section 4. For purposes of the Plan, the Administrator may designate separate Offerings under the Plan (the terms
of which need not be identical) in which Eligible Employees of one or more Employers will participate, even if the dates of the applicable Offering Periods of each such Offering are identical and the provisions of the Plan will separately apply to
each Offering. The terms of each Offering need not be identical. 
 (r) “Offering Periods” means the periods
established by the Administrator (not to exceed 27 months) during which an option granted pursuant to the Plan may be exercised. The duration and timing of Offering Periods may be changed pursuant to Sections 4, 18 and 19. The
first Offering Period shall commence on the date determined by the Administrator and shall run for such length determined by the Administrator. 

(s) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in
Section 424(e) of the Code. 
 (t) “Participant” means an Eligible Employee who elects to participate in the
Plan. 

  
 2 

 (u) “Purchase Period” means the period during an Offering Period
during which shares of Common Stock may be purchased on a Participant’s behalf in accordance with the terms of the Plan. Each Purchase Period will be determined by the Administrator. 

(v) “Purchase Price” means an amount equal to 85% of the Fair Market Value of a share of Common Stock on the Enrollment
Date or on the Exercise Date, whichever is lower; provided however, that the Purchase Price may be determined for subsequent Offering Periods by the Administrator subject to compliance with Applicable Law or pursuant to
Section 18. 
 (w) “Subsidiary” means a “subsidiary corporation,” whether now or
hereafter existing, as defined in Section 424(f) of the Code. 
 (x) “Trading Day” means a day on which the
national stock exchange upon which the Common Stock is listed is open for trading or, if the Common Stock is not listed on an national stock exchange, a business day as determined by the Administrator in good faith. 

(y) “Treasury Regulations” means the Treasury Regulations of the Code. Reference to a specific Treasury Regulation or
Section of the Code shall include such Treasury Regulation or Section, any valid regulation promulgated under such Section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such Section or
regulation. 
  

	3.	 Eligibility. 

(a) Offering Periods. Any Eligible Employee on a given Enrollment Date will be eligible to participate in the Plan if he or she was
employed by the Company for such minimum number of days immediately preceding the Enrollment Date as specified by the Administrator, subject to the requirements of Section 5. 

(b) Non-U.S. Employees. Employees who are citizens or residents of a non-U.S. jurisdiction (without regard to whether they also are citizens or residents of the United States or resident aliens (within the meaning of Section 7701(b)(1)(A) of the Code)) may be excluded from
participation in the Plan or an Offering, as determined by the Administrator. In addition, as provided in Section 14, the Administrator may establish one or more sub-plans of the Plan to provide benefits to employees of
Designated Subsidiaries located outside the United States in a manner that complies with local law. Any such sub-plan will be a component of the Plan and will not be a separate plan. 

 

	4.	 Offering Periods 

The Plan will be implemented by consecutive Offering Periods with new Offering Periods commencing at such times as determined by the Administrator. The
Administrator will have the power to change the duration of Offering Periods (including the commencement dates thereof) without stockholder approval. 

  
 3 

	5.	 Participation 

(a) An Eligible Employee may participate in the Plan by (i) submitting to the Company’s People Team (or its delegate), on or before a
date determined by the Administrator prior to an applicable Enrollment Date, a properly completed subscription agreement authorizing Contributions in the form provided by the Administrator for such purpose, or (ii) following an electronic or
other enrollment procedure determined by the Administrator. 
 (b) An Eligible Employee may also participate in any cashless participation
program that is potentially offered by the Company under the Plan, which shall be effective only for the Offering Periods determined by the Administrator on the terms and conditions established for such cashless participation program as determined
by the Administrator. Under any such cashless participation program, Participants who are not executive officers of the Company may utilize loans from the Company or a Designated Subsidiary as Contributions to fund the purchase of options to
purchase shares during an applicable Offering Period, with shares of Common Stock acquired on the Exercise Date for such Offering Period used to repay such loan. 
  

	6.	 Contributions 

(a) At the time a Participant enrolls in the Plan pursuant to Section 5, such Participant will elect to have payroll
deductions made on each pay day or other Contributions (to the extent permitted by the Administrator) made during the Offering Period in an amount equal to at least 1% but not exceeding 10% of the Compensation (or such other whole percentage of
Compensation as determined by the Administrator in its sole discretion), which he or she receives on each pay day during the Offering Period; provided, however, that should a pay day occur on an Exercise Date, a Participant will have any payroll
deductions made on such day applied to his or her notional account under the subsequent Purchase Period or Offering Period. The minimum permissible projected Contribution by any Participant for an Offering Period shall be $100 (or such other dollar
amount as determined by the Administrator in its sole discretion). The Administrator, in its sole discretion, may permit all Participants in a specified Offering to contribute amounts to the Plan through payment by cash, check or other means set
forth in the subscription agreement prior to each Exercise Date of each Purchase Period. A Participant’s subscription agreement will remain in effect for successive Offering Periods unless terminated as provided in
Section 10. 
 (b) Payroll deductions for a Participant will commence on the first pay day following the Enrollment
Date and will end on the last pay day prior to the Exercise Date of such Purchase Period to which such authorization is applicable, unless sooner terminated by the Participant as provided in Section 10; provided, however,
that with respect to the first Offering Period, payroll deduction for a Participant will not commence until such time as determined by the Administrator. 

(c) All Contributions made for a Participant will be credited to his or her notional account under the Plan and payroll deductions will be made
in whole percentages only. Except to the extent permitted by the Administrator pursuant to Section 6(a), a Participant may not make any additional payments into such notional account. 

(d) A Participant may discontinue his or her participation in the Plan as provided in Section 10. Participants shall
not be permitted to increase or to otherwise decrease their rates of Contributions during an Offering Period unless otherwise determined by the Administrator in its sole discretion. 

  
 4 

 (e) At the time the option under the Plan is exercised, in whole or in part, or any other
time that a taxable event related to the Plan occurs, the Participant must make adequate provision for the Company’s or Employer’s federal, state, local or any other tax liability payable to any authority including taxes imposed by
jurisdictions outside of the United States, national insurance, social security or other tax withholding obligations, if any, which arise upon the exercise of the option or any other time that a taxable event related to the Plan occurs. At any time,
the Company or the Employer may, but will not be obligated to, (i) withhold from the Participant’s compensation the amount necessary for the Company or the Employer to meet applicable withholding obligations, (ii) withhold from the
proceeds of a sale of Common Stock, (iii) withhold a portion of the shares of Common Stock that would otherwise be issued to the Participant upon exercise, or (iv) any other method of withholding the Company or the Employer deems
appropriate. 
  

	7.	 Grant of Option 

On the Enrollment Date of each Offering Period, each Eligible Employee participating in such Offering Period will be granted an option to purchase on each
Exercise Date during such Offering Period (at the applicable Purchase Price) up to a number of shares of Common Stock determined by dividing such Eligible Employee’s Contributions accumulated prior to such Exercise Date and retained in the
Eligible Employee’s notional account as of the Exercise Date by the applicable Purchase Price; provided, however, that in no event will an Eligible Employee be permitted to purchase during each Purchase Period more than shares of Common Stock
(subject to any adjustment pursuant to Section 18); provided, further, that such purchase will be subject to the limitations set forth in Section 13. The Eligible Employee may accept the grant of such
option by electing to participate in the Plan in accordance with the requirements of Section 5. The Administrator may, for future Offering Periods, increase or decrease, in its absolute discretion, the maximum number of
shares of Common Stock that an Eligible Employee may purchase during each Purchase Period of an Offering Period. Exercise of the option will occur as provided in Section 8, unless the Participant has withdrawn pursuant to
Section 10. The option will expire on the last day of the Offering Period. 
  

	8.	 Exercise of Option 

(a) Unless a Participant withdraws from the Plan as provided in Section 10, such Participant’s option for the
purchase of shares of Common Stock will be exercised automatically on the Exercise Date, and the maximum number of full shares subject to the option will be purchased for such Participant at the applicable Purchase Price with the accumulated
Contributions from his or her notional account. No fractional shares of Common Stock will be purchased; unless determined by the Administrator, any Contributions accumulated in a Participant’s notional account that are not sufficient to
purchase a full share will be retained in the Participant’s notional account for the subsequent Purchase Period or Offering Period, subject to earlier withdrawal by the Participant as provided in Section 10. Any other
funds left over in a Participant’s notional account after the Exercise Date will be rolled over to the Participant’s notional account for the next Offering Period. During a Participant’s lifetime, a Participant’s option to
purchase shares hereunder is exercisable only by him or her. 

  
 5 

 (b) If the Administrator determines that, on a given Exercise Date, the number of shares of
Common Stock with respect to which options are to be exercised may exceed (i) the number of shares of Common Stock that were available for sale under the Plan on the Enrollment Date of the applicable Offering Period, or (ii) the number of
shares of Common Stock available for sale under the Plan on such Exercise Date, the Administrator may in its sole discretion (x) provide that the Company will make a pro rata allocation of the shares of Common Stock available for purchase on
such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable among all Participants exercising options to purchase Common Stock on such Exercise
Date, and continue all Offering Periods then in effect, or (y) provide that the Company will make a pro rata allocation of the shares available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will
be practicable and as it will determine in its sole discretion to be equitable among all Participants exercising options to purchase Common Stock on such Exercise Date, and terminate any or all Offering Periods then in effect pursuant to
Section 19. The Company may make a pro rata allocation of the shares available on the Enrollment Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional
shares for issuance under the Plan by the Company’s stockholders subsequent to such Enrollment Date. 
  

	9.	 Delivery 

As soon as reasonably practicable after each Exercise Date on which a purchase of shares of Common Stock occurs, the Company will arrange the delivery to each
Participant of the shares purchased upon exercise of his or her option in a form determined by the Administrator (in its sole discretion) and pursuant to rules established by the Administrator. The Company may permit or require that shares be
deposited directly with a broker designated by the Company or to a designated agent of the Company, and the Company may utilize electronic or automated methods of share transfer. The Company may require that shares be retained with such broker or
agent for a designated period of time. No Participant will have any voting, dividend, or other stockholder rights with respect to shares of Common Stock subject to any option granted under the Plan until such shares have been purchased and delivered
to the Participant as provided in this Section 9. 
  

	10.	 Withdrawal 

A Participant may withdraw all, but not less than all, the Contributions credited to his or her notional account and not yet used to exercise his or her option
under the Plan at any time by (a) submitting to the Company’s People Team (or its delegate) a written notice of withdrawal in the form determined by the Administrator for such purpose, or (b) following an electronic or other
withdrawal procedure determined by the Administrator. All of the Participant’s Contributions credited to his or her notional account will be paid to such Participant as soon as reasonably practicable after receipt of notice of withdrawal and
such Participant’s option for the Offering Period will be automatically terminated, and no further Contributions for the purchase of shares will be made for such Offering Period. If a Participant withdraws from an Offering Period, Contributions
will not resume at the beginning of the succeeding Offering Period, unless the Participant re-enrolls in the Plan in accordance with the provisions of Section 5. 

  
 6 

	11.	 Termination of Employment 

Upon a Participant’s ceasing to be an Eligible Employee, for any reason, he or she will be deemed to have elected to withdraw from the Plan and the
Contributions credited to such Participant’s notional account during the Offering Period but not yet used to purchase shares of Common Stock under the Plan will be returned to such Participant or, in the case of his or her death, to the person
or persons entitled thereto under Section 15, and such Participant’s option will be automatically terminated; provided, however, that if a Participant ceases to be an Eligible Employee, for any reason, up to 30 days
prior to an Exercise Date, the Administrator may determine that Contributions credited to such Participant’s notional account during the Offering Period will be used to purchase shares of Common Stock on such Exercise Date and any Contributions
not so used will be returned to such Participant or, in the case of his or her death, to the person or persons entitled thereto under Section 15. 
  

	12.	 Interest 

No interest will accrue on the Contributions of a Participant in the Plan, except as may be required by Applicable Law, as determined by the Company, and if so
required by the laws of a particular jurisdiction, shall apply to all Participants in the relevant Offering. 
  

	13.	 Stock 

(a) Subject to adjustment upon changes in capitalization of the Company as provided in Section 18 hereof, the maximum
number of shares of Common Stock that will be made available for sale under the Plan will be (i) shares of Common Stock, plus (ii) any shares of Common Stock added as a result of the following sentence (collectively, the “Share
Pool”). The Share Pool will automatically increase on January 1 of each year beginning in 2022 and ending with a final increase on January 1, 2031 in an amount equal to % of the total number of shares of Common Stock
outstanding on the preceding December 31; provided, however, that the Administrator may provide that there will be no January 1 increase in the Share Pool for any such year or that the increase in the Share Pool for any such year will be a
smaller number of shares of Common Stock than would otherwise occur pursuant to this sentence. 
 (b) Until the shares are issued (as
evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), a Participant will only have the rights of an unsecured creditor with respect to such shares, and no right to vote or receive
dividends or any other rights as a stockholder will exist with respect to such shares. 
 (c) Shares of Common Stock to be delivered to a
Participant under the Plan will be registered in the name of the Participant or in the name of the Participant and his or her spouse. 
  

	14.	 Administration 

The Plan shall be administered by the Administrator. The Board shall fill vacancies on, and from time to time may remove or add members to, the Administrator.
Any power of the Administrator may also be exercised by the Board. The Administrator will have full and exclusive discretionary authority to construe, interpret and apply the terms of the Plan, to designate separate Offerings under the Plan, to
determine eligibility, to adjudicate all disputed claims filed under the Plan and 

  
 7 

 
to establish such procedures that it deems necessary for the administration of the Plan (including to adopt such procedures and sub-plans as are necessary or appropriate to permit the
participation in the Plan by employees who are foreign nationals or employed outside the United States, the terms of which sub-plans may take precedence over other provisions of this Plan, with the exception of
Section 13(a), but unless otherwise superseded by the terms of such sub-plan, the provisions of this Plan shall govern the operation of such sub-plan). Unless otherwise determined by the Administrator, the employees
eligible to participate in each sub-plan will participate in a separate Offering. Without limiting the generality of the foregoing, the Administrator is specifically authorized to adopt rules and procedures regarding eligibility to participate, the
definition of Compensation, handling of Contributions, making of Contributions to the Plan (including, without limitation, in forms other than payroll deductions), establishment of bank or trust accounts to hold Contributions, payment of interest,
conversion of local currency, obligations to pay payroll tax, determination of beneficiary designation requirements, withholding procedures and handling of stock certificates that vary with applicable local requirements. With respect to any Offering
Period, the Administrator is authorized to implement a cashless participation program on terms and conditions as it determines in its sole discretion. The Administrator also is authorized to determine that the terms of an option granted under the
Plan or an Offering to citizens or residents of a non-U.S. jurisdiction will be less favorable than the terms of options granted under the Plan or the same Offering to employees resident solely in the United
States. The Administrator hereby delegates to and designates the Chief People and Culture Officer of the Company (or such other officer with similar authority), and to his or her delegates or designates, the authority to assist the Administrator in
the day-to-day administration of the Plan. The Administrator may also delegate some or all of its responsibilities to one or more other persons (which may include
Company personnel) and, to the extent there has been any such delegation, any reference in the Plan to the Administrator shall include the delegate of the Administrator. Every finding, decision and determination made by the Administrator will, to
the full extent permitted by Applicable Laws, be final and binding upon all parties. 
  

	15.	 Designation of Beneficiary 

(a) If permitted by the Administrator, a Participant may file a designation of a beneficiary who is to receive any shares of Common Stock and
cash, if any, from the Participant’s notional account under the Plan in the event of such Participant’s death subsequent to an Exercise Date on which the option is exercised but prior to delivery to such Participant of such shares and
cash. In addition, if permitted by the Administrator, a Participant may file a designation of a beneficiary who is to receive any cash from the Participant’s notional account under the Plan in the event of such Participant’s death prior to
exercise of the option. If a Participant is married and the designated beneficiary is not the spouse, spousal consent will be required for such designation to be effective. 

(b) Such designation of beneficiary may be changed by the Participant at any time by notice in a form determined by the Administrator. In the
event of the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s death, the Company will deliver such shares and/or cash to the executor or administrator
of the estate of the Participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such shares and/or cash to the spouse or to any one or more dependents or
relatives of the Participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 

  
 8 

 (c) All beneficiary designations will be in such form and manner as the Administrator may
designate from time to time. Notwithstanding Sections 15(a) and 15(b), the Company and/or the Administrator may decide not to permit such designations by Participants in non-U.S. jurisdictions.

  

	16.	 Transferability 

Neither Contributions credited to a Participant’s notional account nor any rights with regard to the exercise of an option or to receive shares of Common
Stock under the Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution or as provided in Section 15) by the Participant. Any such attempt at
assignment, transfer, pledge or other disposition will be without effect, except that the Company may treat such act as an election to withdraw funds from an Offering Period in accordance with Section 10 hereof. 

 

	17.	 Use of Funds 

The Company may use all Contributions received or held by it under the Plan for any corporate purpose, and the Company will not be obligated to segregate such
Contributions except under Offerings in which applicable local law requires that Contributions to the Plan by Participants be segregated from the Company’s general corporate funds and/or deposited with an independent third party for
Participants in non-U.S. jurisdictions. Until shares of Common Stock are issued, Participants will only have the rights of an unsecured creditor with respect to such shares. 

 

	18.	 Adjustments, Dissolution, Liquidation, Merger or Other Corporate Transaction 

(a) Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Common Stock, other securities, or
other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of
Common Stock or other securities of the Company, or other change in the corporate structure of the Company affecting the Common Stock occurs, the Administrator, in order to prevent dilution or enlargement of the benefits or potential benefits
intended to be made available under the Plan, will, in such manner as it may deem equitable, adjust the number and class of Common Stock that may be delivered under the Plan, the Purchase Price per share and the number of shares of Common Stock
covered by each option under the Plan that has not yet been exercised, and the numerical limits of Sections 7 and 13. 
 (b)
Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, any Offering Period then in progress will be shortened by setting a New Exercise Date, and will terminate immediately prior to the
consummation of such proposed dissolution or liquidation, unless provided otherwise by the Administrator. The New Exercise Date will be before the date of the Company’s proposed dissolution or liquidation. The Administrator will notify each
Participant in writing or electronically, prior to the New Exercise Date, that the Exercise Date for the Participant’s option has been changed to the New Exercise Date and that the Participant’s option will be exercised automatically on
the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 10. 

  
 9 

 (c) Merger or Other Corporate Transaction. In the event of a merger, sale or other
similar corporate transaction involving the Company, each outstanding option will be assumed or an equivalent option substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor
corporation refuses to assume or substitute for the option, the Offering Period with respect to which such option relates will be shortened by setting a New Exercise Date on which such Offering Period shall end. The New Exercise Date will occur
before the date of the Company’s proposed merger, sale or other similar corporate transaction. The Administrator will notify each Participant in writing or electronically prior to the New Exercise Date, that the Exercise Date for the
Participant’s option has been changed to the New Exercise Date and that the Participant’s option will be exercised automatically on the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as
provided in Section 10. 
  

	19.	 Amendment or Termination 

(a) The Administrator, in its sole discretion, may amend, suspend, or terminate the Plan, or any part thereof, at any time and for any reason.
If the Plan is terminated, the Administrator, in its discretion, may elect to terminate all outstanding Offering Periods either immediately or upon completion of the purchase of shares of Common Stock on the next Exercise Date (which may be sooner
than originally scheduled, if determined by the Administrator in its discretion), or may elect to permit Offering Periods to expire in accordance with their terms (and subject to any adjustment pursuant to Section 18). If
the Offering Periods are terminated prior to expiration, all amounts then credited to Participants’ notional accounts that have not been used to purchase shares of Common Stock will be returned to the Participants (without interest thereon,
except as otherwise required under local laws, as further set forth in Section 12) as soon as administratively practicable. 

(b) Without stockholder consent and without limiting Section 19(a), the Administrator will be entitled to change the
Offering Periods or Purchase Periods, designate separate Offerings, limit the frequency and/or number of changes in the amount withheld during an Offering Period, establish the exchange ratio applicable to amounts withheld in a currency other than
U.S. dollars, permit payroll withholding in excess of the amount designated by a Participant in order to adjust for delays or mistakes in the Company’s processing of properly completed withholding elections, establish reasonable waiting and
adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each Participant properly correspond with Contribution amounts, and establish such other limitations or procedures
as the Administrator determines in its sole discretion advisable that are consistent with the Plan. 
 (c) In the event the Administrator
determines that the ongoing operation of the Plan may result in unfavorable financial accounting consequences, the Administrator may, in its discretion and, to the extent necessary or desirable, modify, amend or terminate the Plan to reduce or
eliminate such accounting consequence including, but not limited to: 
 (i) amending the Plan to conform with the safe harbor
definition under the Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor thereto), including with respect to an Offering Period underway at the time; 

  
 10 

 (ii) altering the Purchase Price for any Offering Period or Purchase Period
including an Offering Period or Purchase Period underway at the time of the change in Purchase Price; 
 (iii) shortening any
Offering Period or Purchase Period by setting a New Exercise Date, including an Offering Period or Purchase Period underway at the time of the Administrator action; 

(iv) reducing the maximum percentage of Compensation a Participant may elect to set aside as Contributions; and 

(v) reducing the maximum number of shares of Common Stock a Participant may purchase during any Offering Period or Purchase
Period. 
 Such modifications or amendments will not require stockholder approval or the consent of any Participants. 

 

	20.	 Notices 

All notices or other communications by a Participant to the Company under or in connection with the Plan will be deemed to have been duly given when received
in the form and manner specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 
  

	21.	 Conditions Upon Issuance of Shares 

(a) Shares of Common Stock will not be issued with respect to an option unless the exercise of such option and the issuance and delivery of
such shares pursuant thereto will comply with all applicable provisions of law, domestic or foreign, including the Securities Act of 1933, as amended, the Exchange Act, the rules and regulations promulgated thereunder, and the requirements of any
stock exchange upon which the shares may then be listed, and will be further subject to the approval of counsel for the Company with respect to such compliance. 

(b) As a condition to the exercise of an option, the Company may require the person exercising such option to represent and warrant at the time
of any such exercise that the shares are being purchased only for investment and without any present intention to sell or distribute such shares if, in the opinion of counsel for the Company, such a representation is required by any of the
aforementioned applicable provisions of Applicable Law. 
  

	22.	 Term of Plan 

The Plan will become effective upon the earlier to occur of its adoption by the Board or its approval by the stockholders of the Company. It will continue in
effect until terminated pursuant to Section 19. 

  
 11 

	23.	 Governing Law 

This Plan and any agreements or other documents hereunder shall be interpreted and construed in accordance with the laws of the State of Delaware and
applicable federal law. Any reference in this Plan or in any agreements or other documents hereunder to a provision of law or to a rule or regulation shall be deemed to include any successor law, rule or regulation of similar effect or
applicability. 
  

	24.	 Severability 

If any provision of the Plan is or becomes or is deemed to be invalid, illegal, or unenforceable for any reason in any jurisdiction or as to any Participant,
such invalidity, illegality or unenforceability shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as to such jurisdiction or Participant as if the invalid, illegal or unenforceable provision had not been
included. 
  

	25.	 Interpretation 

Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference and shall not be deemed in any way material or
relevant to the construction or interpretation of the Plan or any provision thereof. Words in the masculine gender shall include the feminine gender, and where appropriate, the plural shall include the singular and the singular shall include the
plural. The use herein of the word “including” following any general statement, term or matter shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to
similar items or matters, whether or not non-limiting language (such as “without limitation”, “but not limited to”, or words of similar import) is used with reference thereto, but rather
shall be deemed to refer to all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter. References herein to any agreement, instrument or other document means such agreement,
instrument or other document as amended, supplemented and modified from time to time to the extent permitted by the provisions thereof and not prohibited by the Plan. 

  
 12Exhibit 4.6

  

  

  
    AMENDED AND RESTATED CONTRIBUTION AND CONVEYANCE AGREEMENT

    

    

  

  
    This amended and restated contribution and conveyance agreement (this "Agreement") first entered into on
      November 8, 2021 and amended and restated as of November 17, 2021 to amend the timing of the consummation of the transactions contemplated by Recital C. below and certain other matters, among Diana Shipping Inc., a Marshall Islands corporation
      ("Diana"), and OceanPal Inc., a Marshall Islands corporation ("OceanPal"). The foregoing shall be referred to individually as a "Party" and collectively as the "Parties."

  

  
    RECITALS

  

  
    A.  Diana intends to transfer a portion of its fleet to OceanPal, a wholly-owned subsidiary, and OceanPal
      will subsequently be spun off to current shareholders of Diana (the "Spin-Off"). Concurrently with the Spin-Off, Diana intends to list the shares of the subsidiary to be spun off on the Nasdaq Capital Market. The board of directors of Diana, and the
      board of directors of OceanPal, as well of the shareholders of OceanPal, have or will authorize the actions set forth below at the times and in the order set forth below.

    B.  To accomplish the objectives and purposes in the preceding recital, the following actions have been taken
      prior to the date of this Agreement:

  

  
    (1) Diana formed OceanPal pursuant to the Marshall Islands Business Corporation Act and contributed $5.00 in exchange for 500 of
        OceanPal's common shares, par value $0.01 per share (the "Common Shares"), constituting all of the outstanding Common Shares of OceanPal at such time;

    (2) Diana, as sole shareholder of OceanPal, has authorized an increase of OceanPal's authorized share capital from 500 to
        1,000,000,000 Common Shares and has authorized the issuance of up to 100,000,000 preferred shares of OceanPal capital stock, and the board of directors of OceanPal have designated an aggregate of 500,000 preferred shares of OceanPal as the Series B
        Preferred Shares and have designated an aggregate of 10,000 preferred shares of OceanPal as the Series C Preferred Shares; and

    (3) Diana owns all of the outstanding shares (the "Vessel-Owning Subsidiary Shares") of (i) Darien Compania Armadora S.A., a
        Panama corporation ("DCA"), which owns the drybulk vessel Calipso; (ii) Cypres Enterprises Corp., a Panama corporation ("CEC"), which owns the drybulk
        vessel Protefs, and (iii) Marfort Navigation Company Limited, a Cyprus corporation ("MNCL"), which owns the drybulk vessel Salt Lake City (the Calipso, the Protefs and the Salt Lake City, collectively, the "Vessels") (DCA, CEC and MNCL,
        collectively, the "Vessel-Owning Subsidiaries").

  

  
    C.  Effective immediately prior to the distribution by Diana of OceanPal common shares to the shareholders of
      Diana (the "Spin-off Distribution"), the following transactions shall occur in accordance with and pursuant to this Agreement: Diana will contribute (i) all of the Vessel-Owning Subsidiary Shares to OceanPal as a capital contribution and (ii) and
      aggregate of $1.0 million in cash as working capital of the Company (the "Working Capital Amount") in exchange for 500,000 of OceanPal's Series B Preferred Shares (the "OceanPal Series B Preferred Shares") and 10,000 of OceanPal's Series C
      Convertible Preferred Shares (the "OceanPal Series C Preferred Shares" and, together with the OceanPal Series B Preferred Shares (the "OceanPal Shares").

    D.  Subsequent to the date of this Agreement:

  

  
    (1) OceanPal will, in addition to issuing the OceanPal Shares, issue an additional number of common shares constituting 100% of
        the issued and outstanding common shares of OceanPal (the "Distribution Shares") to Diana in exchange for the contribution of the Working Capital Amount and Vessel-Owning Subsidiary Shares and cancellation of the existing outstanding common shares
        of OceanPal; and

    (2) Diana will distribute the OceanPal Common Shares to its shareholders on a pro rata basis as a special dividend.

  

  
    1

    
      

  

  AGREEMENT

  
    NOW, THEREFORE, in consideration of their mutual undertakings and agreements hereunder, the Parties
      undertake and agree as follows:

  

  
    ARTICLE I

  

  
    CONTRIBUTIONS AND CONVEYANCE

  

  
    1.1 Contributions and
          Conveyances. The Parties acknowledge and agree that the following actions hereby occur in the following order effective immediately prior to the Spin-off Distribution:

    

    

  

  
    (a) Contribution by Diana of the Vessel-Owning Subsidiary Shares and the Working Capital Amount to OceanPal
      as a capital contribution, and OceanPal shall acknowledge receipt of the Vessel-Owning Subsidiary Shares and Working Capital Amount;

    (b) Issuance and delivery by OceanPal of the Distribution Shares and OceanPal Shares to Diana in exchange
      for Diana's capital contribution of the Vessel-Owning Subsidiary Shares and Working Capital Amount, and Diana shall acknowledge receipt of the Distribution Shares; and

    (c) The Parties shall execute such documents and take such actions as are necessary or desirable to effect
      the foregoing.

  

  
    ARTICLE II

  

  
    REPRESENTATIONS AND WARRANTIES OF DIANA; DISCLAIMER

  

  
    2.1 Representations and
          Warranties. Diana hereby represents and warrants that:

  

  
    (a) Each of the Vessel-Owning Subsidiaries has been duly formed or incorporated and is validly existing in
      good standing under the laws of its respective jurisdiction of formation or incorporation and has all requisite power and authority to operate its assets, including the vessel owned by each such Vessel-Owning Subsidiary, and conducts its business as
      described in Diana's public filings made with the U.S. Securities and Exchange Commission ("SEC") through the date hereof;

    (b) Correct and complete copies of the articles of association, articles of incorporation, by-laws, other
      organizational documents and all material agreements (as amended to the date of this Agreement) of the Vessel-Owning Subsidiaries have been made available to OceanPal;

    (c) The execution and delivery of this Agreement and all documents, instruments and agreements required to
      be executed and delivered by it pursuant to this Agreement in connection with the completion of the transactions contemplated by this Agreement, have been or will be duly authorized by all necessary actions by Diana and, to the extent applicable,
      each Vessel-Owning Subsidiary, and this Agreement has been duly executed and delivered by Diana and constitutes a legal, valid and binding obligation of Diana enforceable in accordance with its terms, except as may be limited by bankruptcy,
      insolvency, liquidation, reorganization, reconstruction and other similar laws of general application affecting the enforceability of remedies and rights of creditors and except that equitable remedies such as specific performance and injunction are
      in the discretion of a court;

    (d) The execution, delivery and performance by it of this Agreement will not conflict with or result in any
      violation of or constitute a breach of any of the terms or provisions of, or result in the acceleration of any obligation under, or constitute a default under any provision of: (i) the articles of association, articles of incorporation or by-laws or
      other organizational documents of Diana or any of the Vessel-Owning Subsidiaries (the "Diana Parties" and each, a "Diana Party"); (ii) any lien, encumbrance, security interest, pledge, mortgage, charge, other claim, bond, indenture, agreement,
      contract, franchise license, permit or other instrument or obligation to which any Diana Party is a party or is subject or by which any of such Diana Party's assets or properties may be bound; (iii) any applicable laws, statutes, ordinances, rules or
      regulations promulgated by a governmental authority, orders of a governmental authority, judicial decisions, decisions of arbitrators or determinations of any governmental authority or court

  

  
    2

    
      

  

  
    ("Laws"); or (iv) any charter or vessel management agreement to which any Diana Party is a party or any material provision of
      any material contract to which a Diana Party is a party or by which a Diana Party's properties are bound;

  

  
    (e) Except as have already been obtained or that will be obtained in the ordinary course of business, no
      consent, permit, approval or authorization of, notice or declaration to or filing with any governmental authority or any other person, including those related to any environmental laws or regulations or the charters or vessel management agreements
      related to the vessels owned by the Vessel-Owning Subsidiaries, is required in connection with the execution and delivery by any Diana Party of this Agreement or the consummation by any Diana Party of the transactions contemplated hereunder;

    (f) The Vessel-Owning Subsidiary Shares are validly issued in accordance with the applicable articles of
      association or incorporation and are fully paid and non-assessable;

    (g) Diana owns the entire beneficial interest in the Vessel-Owning Subsidiary Shares and has good legal
      title to the same, free and clear of all liens, encumbrances, security interests, pledges, mortgages, charges or other claims;

    (h) There is no outstanding agreement, contract, option, commitment or other right or understanding in
      favor of, or held by, any person to acquire the Vessel-Owning Subsidiary Shares or the assets of the Vessel-Owning Subsidiaries, including but not limited to the Vessels , that has not been terminated or otherwise waived;

    (i) Each of the charters and the vessel management agreements to which each applicable Vessel-Owning
      Subsidiary is a party (as amended to the date of this Agreement) has been made available to OceanPal and is a valid and binding agreement of the Vessel-Owning Subsidiary party to such charter or agreement enforceable in accordance with its terms and,
      to the knowledge of such Vessel-Owning Subsidiary, of all other parties thereto enforceable in accordance with its terms;

    (j) The Vessel-Owning Subsidiaries have fulfilled all material obligations required pursuant to the
      charters (described in (i) above) and the vessel management agreements to have been performed by them prior to the date of this Agreement and have not waived any material rights thereunder; and no material default or breach exists in respect thereof
      on their part or, to their knowledge, any of the other parties thereto and, to their knowledge, no event has occurred which, after giving of notice or the lapse of time, or both, would constitute such a material default or breach;

    (n) Except for such liabilities, debts obligations, encumbrances, defects, restrictions or claims of a
      general nature and magnitude that would arise in connection with the operation of vessels of the same type as the Vessels in the ordinary course of business, there are no liabilities, debts or obligations of, encumbrances, defects or restrictions
      with respect to, or claims against the Vessel-Owning Subsidiaries or any of the assets owned by the Vessel-Owning Subsidiaries, including the Vessels, other than those disclosed in Diana's public filings made with the SEC through the date hereof; and

    (o) The Vessels are
      (i) adequate and suitable for use by the Vessel-Owning Subsidiaries in the Vessel-Owning Subsidiaries' business as presently conducted by them in all material respects as described in the Registration Statement, ordinary wear and tear excepted; (ii)
      seaworthy in all material respects for hull and machinery insurance warranty purposes and is in good running order and repair; (iii) insured against all risks, and in amounts, consistent with common industry practices; (iv) in compliance with
      maritime laws and regulations; (v) duly registered under the flag of the Bahamas or Cyprus, as applicable; and (vi) in compliance in all material respects with the requirements of its present class and classification society; and all class
      certificates of each of the Vessels are clean and valid and free of recommendations affecting class.

  

  
    2.2 Disclaimer of Warranties.
      EXCEPT TO THE EXTENT PROVIDED IN THIS AGREEMENT OR IN ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT, THE PARTIES ACKNOWLEDGE AND AGREE THAT NONE OF THE PARTIES HAS MADE, DOES NOT MAKE, AND EACH SUCH PARTY SPECIFICALLY
      NEGATES AND DISCLAIMS, ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS OR GUARANTIES OF

    

    

  

  
    3

    
      

  

  
    ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS, IMPLIED OR STATUTORY, ORAL OR WRITTEN, PAST OR PRESENT, REGARDING (A) THE
      VALUE, NATURE, QUALITY OR CONDITION OF THE ASSETS OWNED BY THE VESSEL-OWNING SUBSIDIARIES, INCLUDING, WITHOUT LIMITATION, THE ENVIRONMENTAL CONDITION OF THE ASSETS GENERALLY, INCLUDING, WITHOUT LIMITATION, THE PRESENCE OR LACK OF HAZARDOUS SUBSTANCES
      OR OTHER MATTERS ON SUCH ASSETS, (B) THE INCOME TO BE DERIVED FROM SUCH ASSETS, (C) THE SUITABILITY OF SUCH ASSETS FOR ANY AND ALL ACTIVITIES AND USES THAT MAY BE CONDUCTED THEREON OR THEREWITH, (D) THE COMPLIANCE OF OR BY SUCH ASSETS OR THEIR
      OPERATION WITH ANY LAWS (INCLUDING WITHOUT LIMITATION ANY ZONING, ENVIRONMENTAL PROTECTION, POLLUTION OR LAND USE LAWS, RULES, REGULATIONS, ORDERS OR REQUIREMENTS), OR (E) THE HABITABILITY, MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS FOR
      A PARTICULAR PURPOSE OF SUCH ASSETS. EXCEPT TO THE EXTENT PROVIDED IN ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT, EACH PARTY ACKNOWLEDGES AND AGREES THAT SUCH PARTY HAS HAD THE OPPORTUNITY TO INSPECT THE ASSETS OF THE
      VESSEL-OWNING SUBSIDIARIES, AND SUCH PARTY IS RELYING SOLELY ON ITS OWN INVESTIGATION OF THE ASSETS OF THE VESSEL-OWNING SUBSIDIARIES AND NOT ON ANY INFORMATION PROVIDED OR TO BE PROVIDED BY THE OTHER PARTY. EXCEPT TO THE EXTENT PROVIDED IN ANY OTHER
      DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT, NONE OF THE PARTIES IS LIABLE OR BOUND IN ANY MANNER BY ANY VERBAL OR WRITTEN STATEMENTS, REPRESENTATIONS OR INFORMATION PERTAINING TO THE ASSETS OF THE VESSEL-OWNING SUBSIDIARIES
      FURNISHED BY ANY AGENT, EMPLOYEE, SERVANT OR THIRD PARTY. THIS SECTION SHALL SURVIVE THE CONTRIBUTION AND CONVEYANCE OF THE INTERESTS OR THE TERMINATION OF THIS AGREEMENT. THE PROVISIONS OF THIS SECTION HAVE BEEN NEGOTIATED BY THE PARTIES AFTER DUE
      CONSIDERATION AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY REPRESENTATIONS OR WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, WITH RESPECT TO THE ASSETS OF THE VESSEL-OWNING SUBSIDIARIES THAT MAY ARISE PURSUANT TO ANY LAW NOW OR
      HEREAFTER IN EFFECT, OR OTHERWISE, EXCEPT AS SET FORTH IN THIS AGREEMENT OR ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT.

  

  
    2.3 Indemnification.
      Diana hereby agrees to indemnify OceanPal for any and all obligations and other liabilities arising from or relating to the operation, management or employment of any Vessel prior to the effective date of the Spin-Off, and hereby agrees to indemnify
      each Vessel-Owning Subsidiary for any and all obligations and other liabilities arising from or relating to the operation, management or employment of the Vessel owned by such Vessel-Owning Subsidiary prior to the effective date of the Spin-Off.

  

  
    ARTICLE III

  

  
    FURTHER ASSURANCES

  

  
    3.1 Further Assurances.
      From time to time after the date of this Agreement, and without any further consideration, the Parties agree to execute, acknowledge and deliver all such additional deeds, assignments, bills of sale, conveyances, instruments, notices, releases,
      acquittances and other documents, and will do all such other acts and things, all in accordance with applicable Law, as may be necessary or appropriate (a) more fully to assure that the applicable Parties own all of the properties, rights, titles,
      interests, estates, remedies, powers and privileges granted by this Agreement, or which are intended to be so granted, (b) more fully and effectively to vest in the applicable Parties and their respective successors and assigns beneficial and record
      title to the interests contributed and assigned by this Agreement or intended so to be and (c) to more fully and effectively carry out the purposes and intent of this Agreement.

    3.2 Power of Attorney.
      Each Party that has conveyed any interests as reflected by this Agreement (collectively, the "Conveying Parties") hereby constitutes and appoints each of Semiramis Paliou, Ioannis Zafirakis and Eleftherios Papatrifon, each of Pendelis 26, 175 64
      Palaio Faliro, Athens, Greece, and Edward S. Horton, Daniel Lin and Joseph Nardello, each of Seward & Kissel LLP, One Battery Park Plaza, New York, NY 10004 (the "Attorney-in-Fact") its true and lawful attorney-in-fact with full power of
      substitution for it and in its name, place and stead or otherwise on behalf of the applicable Conveying Party and its successors and assigns, and for the

    

    

  

  
    4

    
      

  

  
    benefit of the Attorney-in-Fact to demand and receive from time to time the interests contributed and conveyed by this Agreement
      (or intended so to be) and to execute in the name of the applicable Conveying Party and its successors and assigns instruments of conveyance, instruments of further assurance and to give receipts and releases in respect of the same, and from time to
      time to institute and prosecute in the name of the applicable Conveying Party for the benefit of the Attorney-in-Fact, any and all proceedings at law, in equity or otherwise which the Attorney-in-Fact may deem proper in order to (a) collect, assert
      or enforce any claims, rights or titles of any kind in and to the Interests, (b) defend and compromise any and all actions, suits or proceedings in respect of any of the Interests, and (c) do any and all such acts and things in furtherance of this
      Agreement as the Attorney-in-Fact shall deem advisable. Each Conveying Party hereby declares that the appointment hereby made and the powers hereby granted are coupled with an interest and are and shall be irrevocable and perpetual and shall not be
      terminated by any act of any Conveying Party or its successors or assigns or by operation of law.

  

  
    4.1 Survival of Representations
          and Warranties. The representations and warranties of the Parties in this Agreement and in or under any documents, instruments and agreements delivered pursuant to this Agreement, will survive the completion of the transactions
      contemplated hereby regardless of any independent investigations that OceanPal may make or cause to be made, or knowledge it may have, prior to the date of this Agreement and will continue in full force and effect for a period of one year from the
      date of this Agreement. At the end of such period, such representations and warranties will terminate, and no claim may be brought by OceanPal against Diana thereafter in respect of such representations and warranties, except for claims that have
      been asserted by OceanPal prior to the date of this Agreement.

    4.2 Costs. OceanPal
      shall pay any and all sales, use and similar taxes arising out of the contributions, conveyances and deliveries to be made hereunder, and shall pay all documentary, filing, recording, transfer, deed, and conveyance taxes and fees required in
      connection therewith.

    4.3 Headings; References;
          Interpretation. All Article and Section headings in this Agreement are for convenience only and shall not be deemed to control or affect the meaning or construction of any of the provisions hereof. The words "hereof," "herein" and
      "hereunder" and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement. All references herein to Articles and Sections shall, unless the context requires a
      different construction, be deemed to be references to the Articles and Sections of this Agreement, respectively. All personal pronouns used in this Agreement, whether used in the masculine, feminine or neuter gender, shall include all other genders,
      and the singular shall include the plural and vice versa. The use herein of the word "including" following any general statement, term or matter shall not be construed to limit such statement, term or matter to the specific items or matters set forth
      immediately following such word or to similar items or matters, whether or not non-limiting language (such as "without limitation," "but not limited to," or words of similar import) is used with reference thereto, but rather shall be deemed to refer
      to all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter.

    4.4 Successors and Assigns.
      The Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns.

    4.5 No Third Party Rights.
      The provisions of this Agreement are intended to bind the Parties as to each other and are not intended to and do not create rights in any other person or confer upon any other person any benefits, rights or remedies and no person is or is intended
      to be a third party beneficiary of any of the provisions of this Agreement.

    4.6 Counterparts.
      This Agreement may be executed in any number of counterparts, all of which together shall constitute one agreement binding on the parties hereto.

    4.7 Governing Law.
      This Agreement shall be governed by and construed in accordance with the laws of the State of New York without giving effect to any choice of law rules or provisions (whether of the State of New York or any other jurisdiction) that would cause the
      application of the laws of any jurisdiction other than the State of New York. Each of the parties hereto submits to the exclusive jurisdiction of the United States District Court for the Southern District of New York (or, if jurisdiction in that
      court is not available, then any state court located within

    

    

  

  
    5

    
      

  

  
    the Borough of Manhattan, City of New York) for any and all legal actions arising out of or in connection with this Agreement.

  

  
    4.8 Severability. If
      any of the provisions of this Agreement are held by any court of competent jurisdiction to contravene, or to be invalid under, the laws of any governmental body having jurisdiction over the subject matter hereof, such contravention or invalidity
      shall not invalidate the entire Agreement. Instead, this Agreement shall be construed as if it did not contain the particular provision or provisions held to be invalid, and an equitable adjustment shall be made and necessary provision added so as to
      give effect, as nearly as possible, to the intention of the Parties as expressed in this Agreement at the time of execution of this Agreement.

    4.9 Deed; Bill of Sale;
          Assignment. To the extent required and permitted by applicable Law, this Agreement shall also constitute a "deed," "bill of sale" or "assignment" of the Interests.

    4.10 Amendment or Modification.
      This Agreement may be amended or modified from time to time only by the written agreement of all the Parties hereto.

    4.11 Integration.
      This Agreement and the instruments referenced herein supersede all previous understandings or agreements among the Parties, whether oral or written, with respect to its subject matter hereof. This Agreement and such instruments contain the entire
      understanding of the Parties with respect to the subject matter hereof and thereof. No understanding, representation, promise or agreement, whether oral or written, is intended to be or shall be included in or form part of this Agreement unless it is
      contained in a written amendment hereto executed by the Parties hereto after the date of this Agreement.

    

    

  

  
    

    

    

    

  

  
    [Remainder of Page Intentionally Left Blank]

    

    

  

  
    6

    
      

  

  
    IN WITNESS WHEREOF, this Contribution and Conveyance Agreement has been duly executed by the parties set forth below.

  

  
     

    

  

  	 	 	 	 
	 	
          
            DIANA SHIPPING INC.

          

        
	 	 	 
	 	
          
            By:

          

        	 	
          
             /s/ Ioannis Zafirakis

          

        
	 	
          
            Name:

          

        	 	
          
             Ioannis Zafirakis

          

        
	 	
          
            Title

          

        	 	
          
             Director, Chief Financial Officer, Chief Strategy Officer, Treasurer and Secretary

          

        
	 	 
	 	 
	 	
          
            OCEANPAL INC.

          

        
	 	 	 
	 	
          
            By:

          

        	 	
          
             /s/ Eleftherios Papatrifon

          

        
	 	
          
            Name:

          

        	 	
          
             Eleftherios Papatrifon

          

        
	 	
          
            Title

          

        	 	
          
             Director and Chief Executive Officer

          

        

  

  

   

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  

  7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00336-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00336-of-00352.parquet"}]]