Document:

ex-10_6.htm

    TBS
      INTERNATIONAL LIMITED &
SUBSIDIARIES                                           EXHIBIT
      10.6

     

    
      

      AMENDMENT
        NO.1 TO

      SHIPBUILDING
        CONTRACT

      

      FOR

      

      CONSTRUCTION
        OF ONE

      MULTI-PURPOSE
        VESSEL

      

      (HULL
        NO.NYHS200725)

      

      

      This
        AMENDMENT NO. 1 TO SHIPBUILDING CONTRACT, is entered into
        this 27th day of June, 2007, by and
        between SUNSWYCK MARITIME CORP., a corporation organized and
        existing under the laws of the Marshall Islands, having its registered office
        at
        Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands
        MH96960 (hereinafter called the "BUYER") on one part;
        and CHINA COMMUNICATIONS CONSTRUCTION COMPANY LTD, a
        corporation organized and existing under the laws of the People's Republic
        of
        China, having its registered office at No.C88, An Ding Men Wai Street, Beijing
        100011, the People's Republic of China (hereinafter called
        "CCCC"),and NANTONG YAHUA SHIPBUILDING CO.,
        LTD., a corporation organized and existing under the laws of the
        People's Republic of China, having its registered office at 1# Hongzha Road,
        Jiuweigang, Nantong Jiangsu P.C. 226361, the People's Republic of China
        (hereinafter called the "BUILDER") on the other part, CCCC and
        the BUILDER being hereinafter collectively called the
        "SELLER"

      

      WHEREAS,
        BUYER and SELLER entered into a Shipbuilding Contract dated the 24th day of
        February
        (hereinafter called the “Shipbuilding Contract”), for the construction and
        delivery of a multi-purpose vessel as more fully described in
        the  Shipbuilding Contract, and having BUILDER’S Hull No. NYHS200725,
        (the “VESSEL”).

      

      WHEREAS,
        the Shipbuilding Contract, Article 1.2, provides, in relevant part that all
        fees
        and charges payable to the Classification Society for its services during
        the
        construction of the VESSEL in connection with obtaining the classification
        and
        relevant statutory certification shall be for the account of the SELLER (such
        fees and charges hereinafter called “Classification Fees”), and

      

      WHEREAS,
        BUYER and SELLER have agreed that BUYER will pay, on behalf of SELLER, the
        invoices presented by the Classification Society and approved by BUYER and
        SELLER for Classification Fees, when due, but only up to a maximum amount
        of
        US$175,000, and that consequently the price of the VESSEL will be reduced
        by
        such payments,

      

      NOW,
        THEREFORE, in consideration of the foregoing premises and for other
        good and valuable consideration, the receipt and sufficiency of which are
        hereby
        acknowledged, BUYER and SELLER hereby agree as follows:

      

      
        	
                A.  

              	
                The
                  sixth paragraph of Article 1.2 of the Shipbuilding Contract is
                  hereby
                  amended to read as follows:

              

      

      

      All
        fees
        and charges incidental to the Classification Society and to comply with the
        rules, regulations and requirements defined in this Contract as well as
        royalties, if any, payable on account of the construction of the VESSEL shall
        be
        for the account of the SELLER, except as otherwise provided and agreed
        herein.  Notwithstanding the fact that such fees, charges and
        royalties shall remain for the account of SELLER, BUYER will pay the invoices
        presented by the Classification Society and approved by BUYER and SELLER
        for
        such fees, when due, up to a maximum amount of US$175,000.00. The key plans,
        materials and workmanship entering into the construction of the VESSEL shall
        at
        all times be subject to inspections and tests in accordance with the rules
        and
        regulations of the Classification Society.

      

      
        	
                B.  

              	
                Article
                  2.3(d) of the Shipbuilding Contract is amended as
                  follows:

              

      

      

      (d)
        4th
        Instalment:

      

      The
        sum
        of United States Dollars six million eight hundred twenty-five (US$ 6,825,000)
        only, shall become due and payable and be paid within five (5) New York business
        days of the receipt by the BUYER of a telefax notice from the SELLER attaching
        a
        Stage Certificate in the form of the draft attached as Exhibit “D”,
        countersigned by the Classification Surveyor, certifying that the VESSEL
        has
        been successfully launched.

      

      
        	
                C.  

              	
                Except
                  as expressly provided in this Amendment, all of the terms and conditions
                  of the Shipbuilding Contract shall remain in full force and
                  effect.

              

      

      

      
        	
                D.  

              	
                The
                  parties hereto agree that the validity and interpretation of this
                  Amendment shall be governed by and interpreted in accordance with
                  the laws
                  of England.

              

      

      

      

      

      In
        WITNESS WHEREOF, the parties hereto have caused this
        Contract   to be duly executed on the day and year first above
        written.

      

      

      THE
        BUYER: SUNSWYCK MARITIME CORP.

      

      

      

      
        By        :  /s/
          Martin D.
          Levin                             

        Name      :  Martin
          D. Levin

        Title     :  President

        

        

        CCCC
          : CHINA COMMUNICATIONS CONSTRUCTION COMPANY LTD.

        

        

        By        :  [Not
          legible]                                        

        Name   : 
          [Not
          legible]                                        

        Title     :  

        Witness   :
          CCCC SHANGHAI EQUIPMENT ENGINEERING CO., LTD

        

        

        THE
          BUILDER: NANTONG YAHUA SHIPBUILDING CO., LTD.

        

        

        By        :  [Not
          legible]                                        

        Name   :  [Not
          legible]                                        

        Title     :

        Witness   :ex-10_7.htm

    TBS
      INTERNATIONAL & SUBSIDIARIES                  EXHIBIT
      10.7

     

     

    TBS
      INTERNATIONAL LIMITED
Commerce Building
Chancery Lane
Hamilton
      HM 12
Bermuda

     

    tel: 
      441-295-9230
fax: 441-295-4957

info@windcrest.brn
www.tbsship.corn

     

    June 29, 2005

     

    Dear Mr. Lepere:

     

    In connection with your performance of services for TBS
      International Limited, a Bermuda company (the “Company”), the
      Company is willing to grant to you the number of Class A Common Shares, par
      value $0.01 per share, of the Company (the “Common Shares”),
      listed on the signature page hereto (the “Subject
      Shares”).  This letter acknowledges your acceptance of the terms
      of the grant of the Subject Shares.

     

    The Subject Shares shall be granted pursuant to the TBS
      International Limited 2005 Equity Incentive Plan (the “Plan”)
      and shall be subject to the terms thereof.  The Subject Shares will vest,
      and you will have unrestricted ownership rights in those shares, in 25%
      increments on each of the first through the fourth anniversaries of the date
      of
      the grant, which was June 29, 2005, assuming that you are an employee of the
      Company or an Affiliate (as defined in the Plan) on the applicable vesting
      date.  In addition, if there is a change in control of the Company or if
      the Company without cause terminates your employment, the Subject Shares will
      continue to vest on each applicable vesting date.  Absent an election by
      you, you will have ordinary taxable income equal to the fair market value of
      the
      Subject Shares as of each vesting date.  You should consult a tax advisor
      regarding the tax treatment of the grant of the Subject Shares, their vesting,
      and any tax elections that may be available to you.

     

    The Subject Shares are not transferable by you for any
      reason
      prior to the vesting date, and any unvested Subject Shares will be forfeited
      back to the Company without payment therefor (other than a payment of US$.01
      per
      share) if you terminate employment for any reason (other than termination by
      the
      company without cause) before an applicable vesting date.  You further
      acknowledge that this agreement is irrevocable and shall be binding upon your
      heirs, legal representatives, successors and assigns.

     

                                    Very
      truly
      yours,

     

    TBS INTERNATIONAL
      LIMITED

     

    
    
/s/
      Joseph E.
      Joyce                        
President,
      Chief Executive Officer, Chairman and Director

     

    AGREED AND ACCEPTED:

     

      
/s/
      Ferdinand V.
      Lepere     
Number of
      Shares:  100,000WWW.EXFILE.COM -- MATRITECH FORM 8-K -- EXHIBIT 4.1 -- 15357

    EXHIBIT
      4.1

     

    

    CONSENT
      OF THE MAJORITY HOLDERS OF 15% SECURED CONVERTIBLE PROMISSORY NOTES

    DATED
      JANUARY 13, 2006 AND DATED JANUARY 22, 2007

    

    This
      Consent is executed and delivered on this 2nd day of August 2007 by and among
      Matritech, Inc. (the “Borrower”), the undersigned holders of a
      majority of the outstanding principal amount of those certain 15% Secured
      Convertible Promissory Notes issued by the Borrower on January 13, 2006 (the
      “Series A Notes”) pursuant to the Securities Purchase
      Agreement, dated as of January 13, 2006, by and among the Borrower and the
      purchasers party thereto and previously amended on January 22, 2007 and July
      27,
      2007 (the “Series A Purchase Agreement”) and the undersigned
      holders of a majority of the outstanding principal amount of those certain
      15%
      Secured Convertible Promissory Notes issued by the Borrower on January 22,
      2007
      (the “Series B Notes”) pursuant to the Securities Purchase
      Agreement, dated as of January 22, 2007, by and among the Borrower and the
      purchasers party thereto and previously amended on July 27, 2007 (the
“Series B Purchase Agreement”).  The undersigned
      holders of a majority of the outstanding principal amount of the Series A Notes
      shall be referred to as the “Series A Majority
Holders.”  The undersigned holders of a
      majority of the outstanding principal amount of the Series B Notes shall be
      referred to as the “Series B Majority
Holders.”  All capitalized terms
      used in
      this Agreement and Amendment but not otherwise defined herein shall have the
      meanings ascribed to such terms in the Series A Purchase Agreement and the
      Series B Purchase Agreement, respectively.

    

    WHEREAS,
      the parties have determined that it is in the best interests of the Borrower
      and
      all the holders of the Series A Notes and all the holders of the Series B Notes
      that the following consents and directions be made.

    

    NOW,
      THEREFORE, for good and valuable consideration, the receipt and legal
      sufficiency of which is hereby acknowledged, the parties agree as
      follows:

    

    1.           Pursuant
      to the provisions of Article VIII.C(v) and (vi) of the Series A Notes and the
      Series B Notes, the Series A Majority Holders and the Series B Majority Holders
      hereby consent to the issuance by the Borrower of one or more 15% Secured
      Promissory Notes, in an aggregate principal amount of not more than $3.5 million
      (the “Series C Notes”), which Series C Notes shall rank
pari passu with the Series A Notes and the Series B Notes
      as to
      repayment and security.

    

    2.           Pursuant
      to the provisions of Section 8(c) of the Series A Purchase Agreement and the
      Series B Purchase Agreement, the Series A Majority Holders and the Series B
      Majority Holders hereby direct the Collateral Agent to consent to and to enter
      into a second amendment and restatement of the Security Agreement, originally
      dated January 13, 2006 and amended and restated on January 22, 2007, by and
      between the Collateral Agent (on behalf of itself and the holders of the Series
      A Notes and the holders of the Series B Notes) and the Borrower, to enable
      the
      holders of the Series C Notes to have a pari passu position with the
      holders of the Series A Notes and the holders of the Series B Notes as to the
      security interest granted under such agreement, and further direct the
      Collateral Agent to consent to and to enter into a second amendment and
      restatement of the Contingent License Agreement, originally dated January 13,
      2006 and amended and restated on January 22, 2007, by and between the Collateral
      Agent (on behalf of itself and the holders of the Series A Notes and the holders
      of the Series B Notes) and the Borrower, to enable the holders of the Series
      C
      Notes to have a pari passu position with the holders of the Series A
      Notes and the holders of the Series B Notes as to the license granted under
      such
      agreement.

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    3.           The
      indebtedness represented by the Series C Notes, which indebtedness is permitted
      by this Consent, will be in addition to and not in lieu of the indebtedness
      permitted by clauses (a) and (b) of Article VIII.C(v) of the Series A Notes
      and
      Series B Notes.

    

    4.           Except
      as expressly set forth herein, (a) the original terms and conditions of the
      Series A Notes, as previously amended on January 22, 2007 and on July 27, 2007,
      shall remain in full force and effect; (b) this Consent shall not be deemed
      to
      be a waiver, amendment or modification of, or consent to or departure from,
      any
      provision of the Series A Notes or to be a waiver of any Event of Default
      whether arising before or after the date hereof as a result of the transactions
      contemplated hereby; and (c) this Consent shall not preclude the future exercise
      of any right, remedy, power or privilege available to the holders of the Series
      A Notes whether under the Series A Notes or otherwise, and shall not be
      construed or deemed to be a satisfaction, novation, cure, modification,
      amendment or release of the Series A Notes.

    

    6.  
Except
      as
      expressly set forth herein, (a) the original terms and conditions of the Series
      B Notes, as previously amended on July 27, 2007, shall remain in full force
      and
      effect; (b) this Consent shall not be deemed to be a waiver, amendment or
      modification of, or consent to or departure from, any provision of the Series
      B
      Notes or to be a waiver of any Event of Default whether arising before or after
      the date hereof as a result of the transactions contemplated hereby; and (c)
      this Consent shall not preclude the future exercise of any right, remedy, power
      or privilege available to the holders of the Series B Notes whether under the
      Series B Notes or otherwise, and shall not be construed or deemed to be a
      satisfaction, novation, cure, modification, amendment or release of the Series
      B
      Notes.

    

    7.           This
      Consent (a) constitutes the entire understanding of the parties with respect
      to
      the subject matter hereof, and any other prior agreements, whether written
      or
      oral, with respect hereto or thereto are expressly superseded hereby; (b) shall
      be governed by and construed in accordance with the laws of the State of
      Delaware without regard to principles of conflicts of laws; and (c) shall be
      binding upon and inure to the benefit of the successors and assigns of the
      Borrower and the holders of the Series A Notes and the holders of the Series
      B
      Notes.

    

    7.  
This
      Consent may be executed in multiple counterparts, each of which shall be deemed
      an original but all of which together shall constitute one and the same
      instrument, and by facsimile transmission, which facsimile signatures shall
      be
      considered original executed counterparts.

    

     

     

    
 

    [Remainder
      of Page Intentionally Left Blank]

     

     

     

     

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the undersigned Borrower and the Series A Majority Holders
      and
      the Series B Majority Holders have caused this Consent to be executed as of
      the
      day first above written.

    

    Borrower:

    

    Matritech,
      Inc.

    

    By:
/s/
      Stephen D.
      Chubb                                   

    Name:    Stephen
      D. Chubb

    Title:      Chief
      Executive Officer

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
 

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF, the undersigned Borrower and the Series A Majority Holders
      and
      Series B Majority Holders have caused this Consent to be executed as of the
      day
      first above written.

    

    Holders:

    

    SDS
      Capital Group SPC, Ltd., on behalf of its Class D
      segregated portfolio

    

    By:
      /s/ Steve
      Derby                                              

    Name:  Steve
      Derby

    Title:    Director

    Series
      A
      Notes Held: $1,323,333  principal

    Series
      B
      Notes Held: $1,140,000 principal

    

    

    ProMed
      Partners, L.P.

    

    By:
      /s/ David B.
      Musket                                      

    Name:  David
      B. Musket

    Title:    Managing
      Director

    Series
      A
      Notes Held: $131,476  principal

    Series
      B
      Notes Held: $320,399  principal

    

    

    ProMed
      Partners II, L.P.

    

    By:
      /s/ David B.
      Musket                                      

    Name:  David
      B. Musket

    Title:    Managing
      Director

    Series
      B
      Notes Held: $16,816  principal

    

    

    ProMed
      Offshore Fund, Ltd.

    

    By:
      /s/ David B.
      Musket                                      

    Name:  David
      B. Musket

    Title:    Managing
      Director

    Series
      A
      Notes Held: $22,539 principal

    Series
      B
      Notes Held: $48,072  principal

    

     

     

     

     

     

     

     

    
 

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the undersigned Borrower and the Series A Majority Holders
      and
      Series B Majority Holders have caused this Consent to be executed as of the
      day
      first above written.

     

    
 

    ProMed
      Offshore Fund II, Ltd.

    

    By:
      /s/ David B.
      Musket                                      

    Name: 
      David B. Musket

    Title:    Managing
      Director

    Series
      A
      Notes Held: $835,569  principal

    Series
      B
      Notes Held: $414,713  principal

    

     

    
 

    David
      B. Musket, Individually

    

    

    /s/
      David B.
      Musket                                             

    Series
      A
      Notes Held: $106,875 principal

    Series
      B
      Notes Held: $250,000 principal

    

    

    

    H&Q
      Life Science Investors

    

    By:
      /s/ Daniel R.
      Omstead                                   

    Name:  Daniel
      R. Omstead

    Title:    President

    Series
      A
      Notes Held: $1,583,333  principal

    Series
      B
      Notes Held: $1,000,000  principal

     

     

    
 

    The
      term
      H&Q Life Sciences Investors is the designation of the Trustees for the time
      being under a Declaration of Trust dated February 20, 1992, as amended, and
      all
      persons dealing with H&Q Life Sciences Investors must look solely to the
      trust property for the enforcement of any claims against H&Q Life Sciences
      Investors, and neither the Trustees, officers nor shareholders assume any
      personal liability for the obligations entered into on behalf of H&Q Life
      Sciences Investors.

    

    

    

    

    

    

    
      
        
        

      

      
        5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}]]