Document:

exhibit_10-1

  EXHIBIT 10.1

 

	

SBA Loan #

 

	

 

SBA#
78111772-01 / IBKC Loan #5300782203

	

SBA Loan Name

	

LAREDO OIL, INC.

	

Date

	

April
28, 2020

	

Loan Amount

	

$1,233,656.00

	

Interest Rate

	

1.00%
Fixed Rate

	

Borrower

	

LAREDO OIL, INC.

	

Lender

	

IBERIABANK

 

1.

PROMISE TO PAY:
This Loan is being made by Lender to
Borrower pursuant to the terms of the Paycheck Protection Program
authorized by the Coronavirus Aid, Relief, and Economic Security
(CARES) Act (“Program”). In return for the Loan,
Borrower promises to pay to the order of Lender the amount
of $1,233,656.00
Dollars, interest on the unpaid
principal balance, and all other amounts required by this
Note.

 

2.

DEFINITIONS:

 

“Loan”
means the loan evidenced by this Note.

“Loan
Documents” means the documents related to this Loan signed by
Borrower.

“SBA”
means the Small Business Administration, an Agency of the United
States of America.

 

3. 

PAYMENT TERMS:
Borrower must make all payments at the
place Lender designates. The payment terms for this Note
are:

 

(1)
The interest rate on the Note will be a fixed rate of 1.00%, simple
interest, on the unpaid principal from time to time.

(2)
No interest or principal will be due during the first six months
after the Loan amount is disbursed, although interest will continue
to accrue over this six month deferral period.

(3)
After such six-month deferral period and after taking into account
any loan forgiveness applicable to the Loan pursuant to the
Program, as approved by SBA, any remaining principal and accrued
interest will be payable in substantially equal monthly
installments on the first day of each month over the remaining 18
month term of the Loan, in the amount provided by
Lender.

(4)
Lender will apply each installment payment first to accrued
interest, then to principal, then to pay any late fees, then to
costs of collection.

(5)
This Note will mature two (2) years from the date of the Note, at
which time all unpaid principal, accrued interest and any other
amounts will be due and payable.

(6)
The Borrower may prepay the Note in whole or in part at any time
without penalty.

(7)
If a payment on this Note is more than 10 days late, Lender may
charge Borrower a late fee of up to 5.00% of the unpaid portion of
the regularly scheduled payment.

 

 

 

1

 

 

4. 

DEFAULT: Borrower is in default under this Note if Borrower
does not make a payment when due under this Note, or if Borrower or
Operating Company:

 

A. 

Fails
to do anything required by this Note and other Loan
Documents;

B. 

Defaults
on any other loan with Lender;

C. 

Does
not disclose, or anyone acting on their behalf does not disclose,
any material fact to Lender or SBA;

D. 

Makes,
or anyone acting on their behalf makes, a materially false or
misleading representation to Lender or SBA;

E. 

Defaults
on any loan or agreement with another creditor, if Lender believes
the default may materially affect Borrower’s ability to pay
this Note;

F. 

Fails
to pay any taxes when due;

G. 

Becomes
the subject of a proceeding under any bankruptcy or insolvency
law;

H. 

Has
a receiver or liquidator appointed for any part of their business
or property;

I. 

Makes
an assignment for the benefit of creditors;

J. 

Has
any adverse change in financial condition or business operation
that Lender believes may materially affect Borrower’s ability
to pay this Note;

K. 

Reorganizes,
merges, consolidates, or otherwise changes ownership or business
structure without Lender’s prior written
consent;

L. 

Becomes
the subject of a civil or criminal action that Lender believes may
materially affect Borrower’s ability to pay this Note;
or

M. 

For
any reason it is determined that the Borrower is not eligible to
obtain this Loan under the Program or otherwise violates any term
or requirement of the Program.

 

5. 

LENDER’S RIGHTS IF THERE
IS A DEFAULT: Without notice or
demand and without giving up any of its rights, Lender
may:

 

A. 

Require
immediate payment of all amounts owing under this
Note;

B. 

Collect
all amounts owing from any Borrower; or

C. 

File
suit and obtain judgment.

 

6. 

LENDER’S GENERAL
POWERS: Without notice and
without Borrower’s consent, Lender may:

 

A. 

Incur
expenses to collect amounts due under this Note and enforce the
terms of this Note or any other Loan Document. Among other things,
the expenses may include payments for reasonable attorney’s
fees and costs. If Lender incurs such expenses, it may demand
immediate repayment from Borrower or add the expenses to the
principal balance;

B. 

Release
anyone obligated to pay this Note; and

C. 

Take
any action necessary to collect amounts owing on this
Note.

 

7. 

WHEN FEDERAL LAW
APPLIES: When SBA is the
holder, this Note will be interpreted and enforced under federal
law, including SBA regulations. Lender or SBA may use state or
local procedures for filing papers, recording documents, giving
notice, foreclosing liens, and other purposes. By using such
procedures, SBA does not waive any federal immunity from state or
local control, penalty, tax, or liability. As to this Note,
Borrower may not claim or assert against SBA any local or state law
to deny any obligation, defeat any claim of SBA, or preempt federal
law.

 

8. 

SUCCESSORS AND ASSIGNS:
Under this Note, Borrower includes its
successors, and Lender includes its successors and
assigns.

 

 

2

 

 

9. 

GENERAL PROVISIONS:

 

A. 

Borrower
waives all suretyship defenses.

B. 

Borrower
must sign all documents necessary at any time to comply with the
Loan Documents.

C. 

Lender
may exercise any of its rights separately or together, as many
times and in any order it chooses. Lender may delay or forgo
enforcing any of its rights without giving up any of
them.

D. 

Borrower
may not use an oral statement of Lender or SBA to contradict or
alter the written terms of this Note.

E. 

If
any part of this Note is unenforceable, all other parts remain in
effect.

F. 

To
the extent allowed by law, Borrower waives all demands and notices
in connection with this Note, including presentment, demand,
protest, and notice of dishonor. Borrower also waives any defenses
based upon any claim that Lender did not obtain any guarantee; or
did not obtain, perfect, or maintain a lien upon
Collateral.

G.

Borrower
agrees to modify this Note if requested by Lender in order to
comply with the Program requirements and as necessary to ensure
this Note is guaranteed by the SBA under the Program. Further,
Borrower agrees that if the SBA or the U.S. Department of Treasury
issues a form note or other related loan documentation or otherwise
specifies documentation requirements with respect to loans made
pursuant to the Program it will immediately execute such note and
related loan documentation in such form as required to comply with
all Program requirements as requested by Lender. If Borrower
refuses to sign any such documentation, it hereby appoints Lender
as its attorney-in-fact to sign such documentation on its behalf
and such documentation will be enforceable as if signed directly by
Borrower.

 

10. 

STATE-SPECIFIC
PROVISIONS: Except as set forth
in Section 7, this Note will be governed by the laws of the state
of Louisiana.

 

11.

Agreement to Conduct Electronic
Transactions: The parties
expressly agree that the transactions and interactions they have
with one another in relation to this document may be conducted by
electronic means. Without limiting the generality of the foregoing,
the parties expressly agree that this document, and any other
instruments, agreements,documents, and communications related to
this document or related to the matters addressed in this document
(each, inclusive of this document, a "Covered Document"), may be
created, generated, sent, communicated, executed, signed,
delivered, transmitted, received, retained, stored, authenticated,
or otherwise processed, handled, or used by electronic means or in
electronic form. In the event that any party hereto signs a Covered
Document (including, without limitation, this document)
electronically, such party: (a) expressly states that such party
has signed such Covered Document in electronic form using an
electronic signature, and that such party intends for such party's
electronic signature to be such party's signature to such Covered
Document, and that by making such electronic signature, such party
intends to sign such Covered Document; (b) agrees to the terms of
such Covered Document in all respects, just as if such party had
signed a paper or other written or tangible version of such Covered
Document using a pen or other tangible writing instrument; and (c)
agrees that any such Covered Document will be valid for all legal
purposes under all applicable law, including, without limitation
and as applicable, under the Uniform Electronic Transactions Act as
enacted in the state whose governing law governs such Covered
Document, and under the Electronic Signatures in Global and
National Commerce Act.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

 

 

12. 

BORROWER’S NAME(S) AND SIGNATURE(S):

 

By signing below,
each individual or entity becomes obligated under this Note as
Borrower. To
the extent that Borrower has not delivered a certified borrowing
resolution, please have 100% of the owners and directors/managers
execute this Note, which execution hereby constitutes approval of
this loan; provided that only the Borrower will be liable for the
payment of this Note.

 

LAREDO
OIL, INC.

 

/s/
Bradley
E. Sparks

By:
Bradley E. Sparks

Its:
Chief Financial Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4Exhibit 4.1

  

   

    

  

    PLACEMENT AGENCY AGREEMENT

    

    

    April 30, 2020

    

    

    Seanergy Maritime Holdings Corp.

    154 Vouliagmenis Avenue

    166 74 Glyfada

    Athens, Greece

    Attention: Stamatios Tsantanis, Chief Executive Officer

    

    

    Dear Mr. Tsantanis:

     

    This agreement (the “Agreement”) constitutes the agreement between Maxim Group LLC (the “Placement Agent”)

      and Seanergy Maritime Holdings Corp., a Republic of the Marshall Islands corporation (the “Company”), pursuant to which the
      Placement Agent shall serve as the exclusive placement agent for the Company, on a “reasonable best efforts” basis, in connection with the proposed placement (the “Placement”) of registered
      common shares (the “Shares”) of the Company, par value $0.0001 per share (the “Common Stock”) and unregistered Warrants (collectively, the “Warrants”) to purchase shares of Common Stock
        (the shares of Common Stock underlying the Warrants, collectively with the Warrants and the Shares, the “Securities”).  The terms of the Placement
      and the Securities shall be mutually agreed upon by the Company and the purchasers (each, a “Purchaser” and collectively, the “Purchasers”) and nothing
      herein constitutes that the Placement Agent would have the power or authority to bind the Company or any Purchaser or an obligation for the Company to issue any Securities or complete the Placement.  This Agreement and the documents executed and
      delivered by the Company and the Purchasers in connection with the Placement, including but not limited to the Purchase Agreement (as defined below) and the form of the Warrants shall be collectively referred to herein as the “Transaction Documents.”  The date of the closing of the Placement shall be referred to herein as the “Closing Date.”  The Company expressly acknowledges and agrees that the Placement Agent’s obligations
      hereunder are on a reasonable best efforts basis only and that the execution of this Agreement does not constitute a commitment by the Placement Agent to purchase the Securities and does not ensure the successful placement of the Securities or any
      portion thereof or the success of the Placement Agent with respect to securing any other financing on behalf of the Company.  With the prior written consent of the Company, the Placement Agent may retain other brokers or dealers to act as sub-agents
      or selected-dealers on its behalf in connection with the Placement.  The sale of the Securities to any Purchaser will be evidenced by a securities purchase agreement (the “Purchase Agreement”) between the Company and such Purchaser in a form reasonably acceptable to the Company and the Placement Agent.  Capitalized terms that are not otherwise defined herein have the meanings
      given to such terms in the Purchase Agreement.  Prior to the signing of any Purchase Agreement, officers of the Company will be available to answer inquiries from prospective Purchasers.

     

    SECTION 1.          REPRESENTATIONS AND WARRANTIES OF THE COMPANY; COVENANTS OF THE COMPANY.

    

    

    A.          Representations of the Company.  Each of the representations and warranties (together with any related disclosure schedules thereto) and
      covenants made by the Company to the Purchasers in the Purchase Agreement in connection with the Placement is hereby incorporated herein by reference into this Agreement (as though fully restated herein) and is, as of the date of this Agreement and
      as of the Closing Date, hereby made to, and in favor of, the Placement Agent. In addition to the foregoing, the Company represents and warrants that:

     

    

     

    

    
      1

      
        

    

    

    

    1.          The Company has prepared and filed with the U.S. Securities and Exchange Commission (the “Commission”)

        a registration statement on Form F-3 (Registration No. 333-226796), and amendments thereto, and related preliminary prospectuses, for the registration under the Securities Act of 1933, as amended (the “Securities
          Act”), of the Shares, which registration statement, as so amended (including post-effective amendments, if any) became effective on August 17, 2018.  At the time of such filing, the Company met the requirements of Form F-3 under the
        Securities Act. Such registration statement meets the requirements set forth in Rule 415(a)(1)(x) under the Securities Act and complies with said Rule. The Company will file with the Commission pursuant to Rule 424(b) under the Securities Act, and
        the rules and regulations (the “Rules and Regulations”) of the Commission promulgated thereunder, a supplement to the form of prospectus included in such registration statement relating to the placement of
        the Shares and the plan of distribution thereof and has advised the Placement Agent of all further information (financial and other) with respect to the Company required to be set forth therein. Such registration statement, including the exhibits
        thereto, as amended at the date of this Agreement, is hereinafter called the “Registration Statement”; such prospectus in the form in which it appears in the Registration Statement is hereinafter called the “Base Prospectus”; and the supplemented form of prospectus, in the form in which it will be filed with the Commission pursuant to Rule 424(b) (including the Base Prospectus as so supplemented) is hereinafter
        called the “Prospectus Supplement.” Any reference in this Agreement to the Registration Statement, the Base Prospectus or the Prospectus Supplement shall be deemed to refer to and include the documents
        incorporated by reference therein (the “Incorporated Documents”) pursuant to Item 6 of Form F-3 which were filed under the Exchange Act on or before the date of this Agreement, or the issue date of the Base
        Prospectus or the Prospectus Supplement, as the case may be; and any reference in this Agreement to the terms “amend,” “amendment” or “supplement” with respect to the Registration Statement, the Base Prospectus or the Prospectus Supplement shall be
        deemed to refer to and include the filing of any document under the Exchange Act after the date of this Agreement, or the issue date of the Base Prospectus or the Prospectus Supplement, as the case may be, deemed to be incorporated therein by
        reference. All references in this Agreement to financial statements and schedules and other information which is “contained,” “included,” “described,” “referenced,” “set forth” or “stated” in the Registration Statement, the Base Prospectus or the
        Prospectus Supplement (and all other references of like import) shall be deemed to mean and include all such financial statements and schedules and other information which is or is deemed to be incorporated by reference in the Registration
        Statement, the Base Prospectus or the Prospectus Supplement, as the case may be. No stop order suspending the effectiveness of the Registration Statement or the use of the Base Prospectus or the Prospectus Supplement has been issued, and no
        proceeding for any such purpose is pending or has been initiated or, to the Company’s knowledge, is threatened by the Commission. For purposes of this Agreement, “free writing prospectus” has the meaning set
        forth in Rule 405 under the Securities Act and the “Time of Sale Prospectus” means the preliminary prospectus, if any, together with the free writing prospectuses, if any, used in connection with the
        Placement, including any documents incorporated by reference therein.

     

    2.          The Registration Statement (and any further documents to be filed with the Commission) contains all exhibits and schedules as required by the Securities Act. Each of the Registration Statement and any
      post-effective amendment thereto, at the time it became effective, complied in all material respects with the Securities Act and the Exchange Act and the applicable Rules and Regulations and did not and, as amended or supplemented, if applicable,
      will not, contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. The Base Prospectus, the Time of Sale Prospectus and the Prospectus
      Supplement, each as of its respective date, comply in all material respects with the Securities Act and the Exchange Act and the applicable Rules and Regulations. Each of the Base Prospectus, the Time of Sale Prospectus and the Prospectus Supplement,
      as amended or supplemented, did not and will not contain as of the date thereof any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which
      they were made, not misleading. The Incorporated Documents, when they were filed with the Commission, conformed in all material respects to the requirements of the Exchange Act and the applicable Rules and Regulations, and none of such documents,
      when they were filed with the Commission, contained any untrue statement of a material fact or omitted to state a material fact necessary to make the statements therein (with respect to Incorporated Documents incorporated by reference in the Base
      Prospectus or Prospectus Supplement), in the light of the circumstances under which they were made not misleading; and any further documents so filed and incorporated by reference in the Base Prospectus, the Time of Sale Prospectus or Prospectus
      Supplement, when such documents are filed with the Commission, will conform in all material respects to the requirements of the Exchange Act and the applicable Rules and Regulations, as applicable, and will not contain any untrue statement of a
      material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. No post-effective amendment to the Registration Statement reflecting any facts or
      events arising after the date thereof which represent, individually or in the aggregate, a fundamental change in the information set forth therein is required to be filed with the Commission. There are no documents required to be filed with the
      Commission in connection with the transaction contemplated hereby that (x) have not been filed as required pursuant to the Securities Act or (y) will not be filed within the requisite time period. There are no contracts or other documents required to
      be described in the Base Prospectus, the Time of Sale Prospectus or Prospectus Supplement, or to be filed as exhibits or schedules to the Registration Statement, which (x) have not been described or filed as required or (y) will not be filed within
      the requisite time period.

     

    

     

    

    
      2

      
        

    

    

    

    3.          The Company is eligible to use free writing prospectuses in connection with the Placement pursuant to Rules 164 and 433 under the Securities
        Act. Any free writing prospectus that the Company is required to file pursuant to Rule 433(d) under the Securities Act has been, or will be, filed with the Commission in accordance with the requirements of the Securities Act and the applicable
        rules and regulations of the Commission thereunder. Each free writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act or that was prepared by or behalf of or used by the Company
        complies or will comply in all material respects with the requirements of the Securities Act and the applicable rules and regulations of the Commission thereunder. The Company will not, without the prior consent of the Placement Agent, prepare, use
        or refer to, any free writing prospectus.

    

    

    4.          There are no affiliations with any FINRA member firm among the Company’s officers, directors or, to the knowledge of the Company, any five percent (5.0%) or greater
      stockholder of the Company, except as set forth in the Registration Statement and the other documents the Company has filed or furnished with the Commission.

    

    

    B.          Covenants of the Company. The Company has delivered, or will as promptly as practicable
      deliver, to the Placement Agent materially complete conformed copies of the Registration Statement and of each consent and certificate of experts, as applicable, filed as a part thereof, and conformed copies of the Registration Statement (without
      exhibits), the Base Prospectus, the Time of Sale Prospectus and the Prospectus Supplement, as amended or supplemented, in such quantities and at such places as the Placement Agent reasonably requests. Neither the Company nor any of its directors and
      officers has distributed and none of them will distribute, prior to the Closing Date, any offering material in connection with the offering and sale of the Securities pursuant to the Placement other than the Base Prospectus, the Time of Sale
      Prospectus, the Prospectus Supplement, the Registration Statement, copies of the documents incorporated by reference therein and any other materials permitted by the Securities Act.

     

    SECTION 2.       REPRESENTATIONS OF THE PLACEMENT AGENT. The Placement Agent  represents and warrants that it (i) is a member in good standing of FINRA, (ii) is registered as a
      broker/dealer under the Exchange Act, (iii) is licensed as a broker/dealer under the laws of the states applicable to the offers and sales of the Securities by such Placement Agent, (iv) is and will be a body corporate validly existing under the laws
      of its place of incorporation, and (v) has full power and authority to enter into and perform its obligations under this Agreement.  The Placement Agent will immediately notify the Company in writing of any change in its status as such. The Placement
      Agent covenants that it will use its reasonable best efforts to conduct the Placement hereunder in compliance with the provisions of this Agreement and the requirements of applicable law.  In accordance with Section 3(j) of that certain Underwriting
      Agreement dated March 31, 2020 by and between the Placement Agent and the Company, the Placement Agent consents to the entry by the Company into the Transaction Documents and the consummation of the transactions contemplated thereunder.

     

    

     

    

    
      3

      
        

    

     

    SECTION 3.        COMPENSATION.  In consideration of the services to be provided for hereunder, the Company shall pay to the Placement Agent or their
        respective designees their pro rata portion (based on the Securities placed) of the following compensation with respect to the Securities which they are placing:

    

    

    A.          A cash fee (the “Cash Fee”) equal to an aggregate of six and one-half percent (6.5%) of the aggregate
        gross proceeds raised in the Placement.  The Cash Fee shall be paid at the closing of the Placement (the “Closing”).

    

    

    B.          Subject to compliance with FINRA Rule 5110(f)(2)(D), the Company also agrees, in case of Closing of the Placement, to reimburse the Placement Agent for all travel and
      other out-of-pocket expenses incurred, including the reasonable fees, costs and disbursements of its legal counsel, in an amount not to exceed an aggregate of $30,000 (against invoices provided to the Company).  The Company will reimburse Placement
      Agent directly upon the Closing of the Placement from the gross proceeds raised in the Placement.

    

    

    C.          In addition, if within the Participation Period (as defined below) the Company completes any financing of equity, equity-linked, or debt of
        the Company (other than the exercise by any person or entity of any options, warrants or other convertible securities) with any of the investors (not to exceed ten such investors), each of whom was introduced to the Company or contacted by the
        Placement Agent on the Company’s behalf during the period beginning on March 2, 2020 and ending on the Closing, which are identified to the Company in writing by the Placement Agent at or prior to Closing (the “PA
          Investors”), then the Company will pay to the Placement Agent upon the closing of such financing as a financing participation right the compensation set forth in Section 3(A) above with respect the funds received by the Company from the PA
        Investors.  The “Participation Period” shall be the period of time six (6) months after the Closing.

    

    

    D.          The Placement Agent reserves the right to reduce any item of its compensation or adjust the terms thereof as specified herein in the event
        that a determination shall be made by FINRA to the effect that such Placement Agent’s aggregate compensation is in excess of FINRA rules or that the terms thereof require adjustment.

     

    SECTION 4.       INDEMNIFICATION. The Company agrees to the indemnification and other agreements set forth in the Indemnification Provisions (the “Indemnification”)

      attached hereto as Addendum A, the provisions of which are incorporated herein by reference and shall survive the termination or expiration of this Agreement.

     

    SECTION 5.       ENGAGEMENT TERM. The Placement Agent’s engagement hereunder shall be until the earlier of (i) the final closing date of the Placement, (ii) the date a party terminates
      the engagement according to the terms of the next sentence, and (iii) April 30, 2020 (the period of time during which this Agreement remains in effect is referred to herein as the “Term”).  If the Company
      elects to terminate this Agreement prior to Closing for any reason even though the Placement Agent was prepared to proceed with the Closing within the intent of this Agreement, and if within six (6) months following such termination, the Company
      completes any financing of equity, equity-linked or debt or other capital raising activity of the Company (other than the exercise by any person or entity of any options, warrants or other convertible securities) with any PA Investor, then the
      Company will pay the Placement Agent upon the closing of such financing the compensation set forth in Section 3(A) above to the extent of the gross proceeds received by the Company from such PA Investors.  Notwithstanding anything to the contrary
      contained herein, the provisions concerning confidentiality and indemnification and contribution contained herein and the Company’s obligations contained in the Indemnification Provisions will survive any expiration or termination of this Agreement.
      The Placement Agent agrees not to use any confidential information concerning the Company provided to the Placement Agent by the Company for any purposes other than those contemplated under this Agreement.

     

    

     

    

    
      4

      
        

    

     

    

    SECTION 6.      PLACEMENT AGENT INFORMATION. The Company agrees that any information or advice rendered by the Placement Agent in connection with this engagement is for the confidential
      use of the Company only in their evaluation of the Placement and, except as otherwise required by law, the Company will not disclose or otherwise refer to the advice or information in any manner without the Placement Agent’s prior written consent.

     

    SECTION 7.       NO FIDUCIARY RELATIONSHIP. This Agreement does not create, and shall not be construed as creating rights enforceable by any person or entity not a party hereto, except
      those entitled hereto by virtue of the Indemnification Provisions hereof. The Company acknowledges and agrees that the Placement Agent is not and shall not be construed as a fiduciary of the Company and shall have no duties or liabilities to the
      equity holders or the creditors of the Company or any other person by virtue of this Agreement or the retention of such Placement Agent hereunder, all of which are hereby expressly waived.

    

    

    SECTION 8.       CLOSING. The obligations of the Placement Agent, and the closing of the sale of the Securities hereunder are subject to the accuracy, when made and on the Closing Date,
      of the representations and warranties on the part of the Company and its subsidiaries contained herein and in the Purchase Agreement, to the accuracy of the statements of the Company and its subsidiaries made in any certificates pursuant to the
      provisions hereof, to the performance by the Company and its subsidiaries of their obligations hereunder, and to each of the following additional terms and conditions, except as otherwise disclosed to and acknowledged and waived by the Placement
      Agent to the Company:

     

    A.          No stop order suspending the effectiveness of the Registration Statement shall have been issued and no proceedings for that purpose shall have been initiated or threatened by the Commission, and any request
      for additional information on the part of the Commission (to be included in the Registration Statement, the Base Prospectus, the Prospectus Supplement or otherwise) shall have been complied with to the reasonable satisfaction of the Placement Agent.
      Any filings required to be made by the Company in connection with the Placement shall have been timely filed with the Commission.

    

    

    B.          The Placement Agent shall not have discovered and disclosed to the Company on or prior to the Closing Date that the Registration Statement, the Base Prospectus, the Prospectus Supplement or any amendment or
      supplement thereto contains an untrue statement of a fact which, in the reasonable opinion of counsel for the Placement Agent, is material or omits to state any fact which, in the reasonable opinion of such counsel, is material and is required to be
      stated therein or is necessary to make the statements therein not misleading.

    

    

    C.          All corporate proceedings and other legal matters incident to the authorization, form, execution, delivery and validity of each of this Agreement, the Shares, the Registration Statement, the Base Prospectus
      and the Prospectus Supplement and all other legal matters relating to this Agreement and the transactions contemplated hereby shall be reasonably satisfactory in all material respects to counsel for the Placement Agent, and the Company shall have
      furnished to such counsel all documents and information that they may reasonably request to enable them to pass upon such matters.

    

    

    D.          The Placement Agent shall have received from outside counsel to the Company such counsel’s written opinions, addressed to the Placement Agent and the Purchasers and dated as of the Closing Date, in form and
      substance reasonably satisfactory to the Placement Agent.

    

    

    E.          On the Closing Date, the Placement Agent shall have received a “comfort” letter from Ernst & Young (Hellas) Certified Auditors-Accountants S.A.
        (the Company’s independent registered accounting firm) (“E&Y”) as of each such date, addressed to each of
      the Placement Agent and in form and substance satisfactory in all respects to the Placement Agent and Placement Agent’s counsel.

    

    

    F.          On the Closing Date, Placement Agent shall have received a certificate of the chief financial officer of the Company, dated, as applicable, as of the date of such Closing, to the effect that, as of the date
      of this Agreement and as of the applicable date, the representations and warranties of the Company contained herein and in the Purchase Agreement were and are accurate in all material respects, except for such changes as are contemplated by this
      Agreement and except as to representations and warranties that were expressly limited to a state of facts existing at a time prior to the applicable Closing Date, and that, as of the applicable date, the obligations to be performed by the Company
      hereunder on or prior thereto have been fully performed in all material respects.  Such officer shall also provide a customary certification as to such accounting or financial matters that are included or incorporated by reference in the Registration
      Statement or the Prospectus Supplement that E&Y is unable to provide assurances on in the letter contemplated by Section 8(E) above.

     

      

     

      

    
      5

      
        

    

    

    

    G.          On the Closing Date, Placement Agent shall have received a certificate of the Secretary of the Company, dated, as applicable, as of the date of such Closing, certifying to the organizational documents, good
      standing in the state of incorporation of the Company and board resolutions relating to the Placement of the Securities from the Company.

    

    

    H.          Neither the Company nor any of its subsidiaries (i) shall have sustained since the date of the latest audited financial statements included or incorporated by reference in the Registration Statement, the Base
      Prospectus and the Prospectus Supplement, any loss or interference with its business from fire, explosion, flood, terrorist act or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order
      or decree, otherwise than as set forth in or contemplated by the Registration Statement, the Base Prospectus and the Prospectus Supplement, (ii) since such date there shall not have been any change in the capital stock or long-term debt of the
      Company or any of its subsidiaries or any change, or any development involving a prospective change, in or affecting the business, general affairs, management, financial position, stockholders’ equity, results of operations or prospects of the
      Company and its subsidiaries, otherwise than as set forth in or contemplated by the Registration Statement, the Base Prospectus and the Prospectus Supplement, and (iii) since such date there shall not have been any new or renewed inquiries by the
      Commission, FINRA or any other regulatory body regarding the Company, the effect of which, in any such case described in clause (i), (ii) or (iii), is, in the judgment of the Placement Agent, so material and adverse as to make it impracticable or
      inadvisable to proceed with the sale or delivery of the Securities on the terms and in the manner contemplated by the Base Prospectus, Time of Sale Prospectus and Prospectus Supplement.

    

    

    I.          The Common Stock is registered under the Exchange Act and, as of the Closing Date, the Shares shall be listed and admitted and authorized for trading on the Trading Market or other applicable U.S. national
      exchange, or an application for such listing shall have been submitted to the Trading Market, and satisfactory evidence of such action shall have been provided to the Placement Agent. The Company shall have taken no action designed to, or likely to
      have the effect of terminating the registration of the Common Stock under the Exchange Act or delisting or suspending from trading the Common Stock from the Trading Market or other applicable U.S. national exchange, nor, except as disclosed in the
      Base Prospectus, Time of Sale Prospectus and Prospectus Supplement, has the Company received any information suggesting that the Commission or the Trading Market or other U.S. applicable national exchange is contemplating terminating such
      registration or listing.

    

    

    J.          No action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental agency or body which would, as of the Closing Date, prevent the
      issuance or sale of the Securities or materially and adversely affect or potentially and adversely affect the business or operations of the Company; and no injunction, restraining order or order of any other nature by any federal or state court of
      competent jurisdiction shall have been issued as of the Closing Date which would prevent the issuance or sale of the Securities or materially and adversely affect or potentially and adversely affect the business or operations of the Company.

    

    

    K.          The Company shall have prepared and filed with the Commission a Form 6-K with respect to the Placement, including as an exhibit thereto this Agreement.

    

    

    L.          The Company shall have entered into a Purchase Agreement with each of the Purchasers and such agreements shall be in full force and effect and shall contain representations, warranties and covenants of the
      Company as agreed between the Company and the Purchasers.

    

    

    M.          FINRA shall have raised no objection to the fairness and reasonableness of the terms and arrangements of this Agreement. In addition, the Company shall, if requested by the Placement Agent, make or authorize
      Placement Agent’s counsel to make on the Company’s behalf, any filing with the FINRA Corporate Financing Department pursuant to FINRA Rule 5110 with respect to the Placement and pay all filing fees required in connection therewith.

    

    

    N.          Prior to the Closing Date, the Company shall have furnished to the Placement Agent such further information, certificates and documents as the Placement Agent may reasonably request.

    

    

    If any of the conditions specified in this Section 8 shall not have been fulfilled when and as required by this Agreement, or if any of the certificates, opinions, written statements
      or letters furnished to the Placement Agent or to Placement Agent’s counsel pursuant to this Section 8 shall not be reasonably satisfactory in form and substance to the Placement Agent and to Placement Agent’s counsel, all obligations of the
      Placement Agent hereunder may be cancelled by the Placement Agent at, or at any time prior to, the consummation of the Closing. Notice of such cancellation shall be given to the Company in writing or orally. Any such oral notice shall be confirmed
      promptly thereafter in writing.

     

    

     

    

    
      6

      
        

    

     

    SECTION 9.          [RESERVED].

     

    SECTION 10.     GOVERNING LAW; AGENT FOR SERVICE OF PROCESS, ETC. This Agreement will be governed by, and construed in accordance with, the laws of the State of New York applicable to
      agreements made and to be performed entirely in such State, without regard to the conflicts of laws principles thereof. This Agreement may not be assigned by either party without the prior written consent of the other party. This Agreement shall be
      binding upon and inure to the benefit of the parties hereto, and their respective successors and permitted assigns. Any right to trial by jury with respect to any dispute arising under this Agreement or any transaction or conduct in connection
      herewith is waived. Any dispute arising under this Agreement may be brought into the courts of the State of New York or into the federal court located in New York, New York and, by execution and delivery of this Agreement, the Company hereby accepts
      for itself and in respect of its property, generally and unconditionally, the jurisdiction of aforesaid courts. Each party hereto hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or
      proceeding by delivering a copy thereof via overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of
      process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. The Company agrees that a final judgment in any such action, proceeding or counterclaim brought in any
      such court shall be conclusive and binding upon the Company and may be enforced in any other courts to the jurisdiction of which the Company is or may be subject, by suit upon such judgment.  If either party shall commence an action or proceeding to
      enforce any provisions of a Transaction Document, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorney’s fees and other costs and expenses incurred with the investigation, preparation and
      prosecution of such action or proceeding.  In addition to and without limiting the foregoing, the Company has confirms that it has appointed Watson Farley & Williams LLP, 250 West 55th Street, 31st Floor, New York, New York 10019, as its
      authorized agent (the “Authorized Agent”) upon whom process may be served in any suit, action or proceeding arising out of or based upon the this Agreement or the Transaction Documents or the transactions
      contemplated herein which may be instituted in any New York federal or state court, by the Placement Agent, the directors, officers, partners, members, managers, employees and agents of the Placement Agent, and expressly accept the non-exclusive
      jurisdiction of any such court in respect of any such suit, action or proceeding. The Company hereby represents and warrants that the Authorized Agent has accepted such appointment and has agreed to act as said agent for service of process, and the
      Company agrees to take any and all action, including the filing of any and all documents that may be necessary to continue such appointment in full force and effect as aforesaid. The Company hereby authorizes and directs the Authorized Agent to
      accept such service. Service of process upon the Authorized Agent shall be deemed, in every respect, effective service of process upon the Company. If the Authorized Agent shall cease to act as agent for service of process, the Company shall appoint,
      without unreasonable delay, another such agent in the United States, and notify you of such appointment. Notwithstanding the foregoing, any action arising out of or based upon this Agreement may be instituted by the Placement Agent, the directors,
      officers, partners, members, managers, employees and agents of the Placement Agent, in any court of competent jurisdiction in the Republic of the Marshall Islands.  This paragraph shall survive any termination of this Agreement, in whole or in part.

      

    SECTION 11.     ENTIRE AGREEMENT/MISC. This Agreement (including the attached Indemnification Provisions) embodies the entire agreement and understanding between the parties hereto, and
      supersedes all prior agreements and understandings, relating to the subject matter hereof, except for that certain Underwriting Agreement dated March 31, 2020 by and between the Placement Agent and the Company. If any provision of this Agreement is
      determined to be invalid or unenforceable in any respect, such determination will not affect such provision in any other respect or any other provision of this Agreement, which will remain in full force and effect. This Agreement may not be amended
      or otherwise modified or waived except by an instrument in writing signed by both Placement Agent and the Company. The representations, warranties, agreements and covenants contained herein shall survive the closing of the Placement and delivery of
      the Securities. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to
      the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or a .pdf format file, such signature shall create a valid and binding obligation of the
      party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or .pdf signature page were an original thereof.

     

    

     

    

    
      7

      
        

    

     

    SECTION 12.          CONFIDENTIALITY.  The Placement Agent (i) will keep the Confidential Information (as such term is defined below) confidential and will not (except as required by
      applicable law or stock exchange requirement, regulation or legal process (“Legal Requirement”), without the Company’s prior written consent, disclose to any person any Confidential Information, and (ii) will
      not use any Confidential Information other than in connection with the Placement.  The Placement Agent further agrees, severally and not jointly, to disclose the Confidential Information only to its Representatives (as such term is defined below) who
      need to know the Confidential Information for the purpose of the Placement, and who are informed by the Placement Agent of the confidential nature of the Confidential Information. The term “Confidential Information”
      shall mean, all confidential, proprietary and non-public information (whether written, oral or electronic communications) furnished by the Company to a Placement Agent or its Representatives in connection with such Placement Agent’s evaluation of the
      Placement. The term “Confidential Information” will not, however, include information which (i) is or becomes publicly available other than as a result of a disclosure by a Placement Agent or its
      Representatives in violation of this Agreement, (ii) is or becomes available to a Placement Agent or any of its Representatives on a non-confidential basis from a third-party, (iii) is known to a Placement Agent or any of its Representatives prior to
      disclosure by the Company or any of its Representatives, or (iv) is or has been independently developed by a Placement Agent and/or the Representatives without use of any Confidential Information furnished to it by the Company. The term
      “Representatives” shall mean the Placement Agent’s directors, board committees, officers, employees, financial advisors, attorneys and accountants. This provision shall be in full force until the earlier of (a) the date that the Confidential
      Information ceases to be confidential and (b) two years from the date hereof.  Notwithstanding any of the foregoing, in the event that the Placement Agent or any of their respective Representatives are required by Legal Requirement to disclose any of
      the Confidential Information, such Placement Agent and their respective Representatives will furnish only that portion of the Confidential Information which such Placement Agent or their respective Representative, as applicable, is required to
      disclose by Legal Requirement as advised by counsel, and will use reasonable efforts to obtain reliable assurance that confidential treatment will be accorded the Confidential Information so disclosed.

     

    SECTION 13.     NOTICES. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in
      writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is sent to the email address specified on the signature pages attached hereto prior to 6:30 p.m. (New York City time) on
      a business day, (b) the next business day after the date of transmission, if such notice or communication is sent to the email address on the signature pages attached hereto on a day that is not a business day or later than 6:30 p.m. (New York City
      time) on any business day, (c) the third business day following the date of mailing, if sent by U.S. internationally recognized air courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for
      such notices and communications shall be as set forth on the signature pages hereto.

    

    

    SECTION 14.          PRESS ANNOUNCEMENTS. The Company agrees that the Placement Agent shall, from and after any Closing, have the right to reference the Placement and the Placement
      Agent’ role in connection therewith in the Placement Agent’ marketing materials and on its website and to place advertisements in financial and other newspapers and journals, in each case at its own expense.

     

    

    

    

    

    [The remainder of this page has been intentionally left blank.]

    
      8

      
        

    

    Please confirm that the foregoing correctly sets forth our agreement by signing and returning to Maxim the enclosed copy of this Agreement.

     

    	
             

          	
            Very truly yours,

          
	
             

          	
             

          
	
             

          	
            MAXIM GROUP LLC

             

          
	
             

          	
             

          
	
             

          	
            By: 

          	
            /s/ Clifford A. Teller

          
	
             

          	
             

          	
            Name: Clifford A. Teller

          
	
             

          	
             

          	
            Title:   Executive Managing Director,

                        Investment Banking

          
	
             

          	
             

          

    

    

    	
             

          	 	
            Address for notice:

          
	
             

          	 	
            405 Lexington Avenue

          
	
             

          	 	
            New York, NY 10174

          
	
             

          	 	
            Attention: James Siegel, General Counsel

            Email: jsiegel@maximgrp.com

          

    Accepted and Agreed to as of

    the date first written above:

     

    	
            SEANERGY MARITIME HOLDINGS CORP.

             

          
	
             

          	 
	
            By: 

          	
            /s/ Stamatios Tsantanis

          	
             

          
	
             

          	
            Name: Stamatios Tsantanis

          	
             

          
	
             

          	
            Title:  Chief Executive Officer

          	
             

          

     

    Address for notice:

    Seanergy Maritime Holdings Corp.

    154 Vouliagmenis Avenue

    166 74 Glyfada

    Athens, Greece

    Attention: General Counsel

    Email: Legal@seanergy.gr

    

    

    

    

    [Signature Page to April 2020 Placement Agency Agreement Between

    Maxim Group LLC and Seanergy Maritime Holdings Corp.]

    
      
        

    

    
    ADDENDUM A

    INDEMNIFICATION PROVISIONS

     

    In connection with the engagement of Maxim Group LLC (the “Placement Agent”) by Seanergy Maritime Holdings Corp. (the “Company”)
      pursuant to a placement agency agreement dated as of the date hereof, between the Company and the Placement Agent, as it may be amended from time to time in writing (the “Agreement”), the Company hereby agrees as follows:

    

    

    1.          To the extent permitted by law, the Company will indemnify the Placement Agent and its affiliates, directors, officers, employees and controlling persons (within the meaning of Section 15 of the Securities
      Act of 1933, as amended, or Section 20 of the Securities Exchange Act of 1934) against all losses, claims, damages, expenses and liabilities, as the same are incurred (including the reasonable fees and expenses of counsel), relating to or arising out
      of its activities hereunder or pursuant to the Agreement, except, with regard to the Placement Agent, to the extent that any losses, claims, damages, expenses or liabilities (or actions in respect thereof) are found in a final judgment (not subject
      to appeal) by a court of law to have resulted primarily and directly from the Placement Agent’s willful misconduct or gross negligence in performing the services described herein, as the case may be.

    

    

    2.          Promptly after receipt by the Placement Agent of notice of any claim or the commencement of any action or proceeding with respect to which the Placement Agent is entitled to indemnity hereunder, the Placement
      Agent will notify the Company in writing of such claim or of the commencement of such action or proceeding, and the Company will assume the defense of such action or proceeding and will employ counsel reasonably satisfactory to the Placement Agent
      and will pay the fees and expenses of such counsel. Notwithstanding the preceding sentence, the Placement Agent will be entitled to employ counsel separate from counsel for the Company and from any other party in such action if counsel for the
      Placement Agent reasonably determines that it would be inappropriate under the applicable rules of professional responsibility for the same counsel to represent both the Company and the Placement Agent. In such event, the reasonable fees and
      disbursements of no more than one such separate counsel will be paid by the Company. The Company will have the exclusive right to settle the claim or proceeding provided that the Company will not settle any such claim, action or proceeding without
      the prior written consent of the Placement Agent, which will not be unreasonably withheld.

    

    

    3.          The Company agrees to notify the Placement Agent promptly of the assertion against it or any other person of any claim or the commencement of any action or proceeding relating to a transaction contemplated by
      the Agreement.

    

    

    4.          If for any reason the foregoing indemnity is unavailable to the Placement Agent or insufficient to hold the Placement Agent harmless, then the Company shall contribute to the amount paid or payable by the
      Placement Agent, as the case may be, as a result of such losses, claims, damages or liabilities in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand, and the Placement Agent on the
      other, but also the relative fault of the Company on the one hand and the Placement Agent on the other that resulted in such losses, claims, damages or liabilities, as well as any relevant equitable considerations. The amounts paid or payable by a
      party in respect of losses, claims, damages and liabilities referred to above shall be deemed to include any legal or other fees and expenses incurred in defending any litigation, proceeding or other action or claim. Notwithstanding the provisions
      hereof, the Placement Agent’s share of the liability hereunder shall not be in excess of the amount of fees actually received, or to be received, by the Placement Agent under the Agreement (excluding any amounts received as reimbursement of expenses
      incurred by the Placement Agent).

    

    

    5.          These Indemnification Provisions shall remain in full force and effect whether or not the transaction contemplated by the Agreement is completed and shall survive the termination of the Agreement, and shall
      be in addition to any liability that the Company might otherwise have to any indemnified party under the Agreement or otherwise.

    

    

    

    

    [The remainder of this page has been intentionally left blank.] 

    
      A-1

      
        

    

     

    	
             

          	
            Very truly yours,

          
	
             

          	
             

          
	
             

          	
            MAXIM GROUP LLC

             

          
	
             

          	
             

          
	
             

          	
            By: 

          	
             /s/ Clifford A. Teller

          
	
             

          	
             

          	
            Name: Clifford A. Teller

          
	
             

          	
             

          	
            Title:    Executive Managing Director,

                        Investment Banking

          
	
             

          	
             

          
	
             

          	
            Address for notice:

          
	
             

          	
            405 Lexington Avenue

          
	
             

          	
            New York, NY 10174

          
	
             

          	
            Attention: James Siegel, General Counsel

            Email: jsiegel@maximgrp.com

          

    

    

    Accepted and Agreed to as of

    the date first written above:

     

    	
            SEANERGY MARITIME HOLDINGS CORP   .

             

          
	
             

          	 
	
            By: 

          	
            /s/ Stamatios Tsantanis

          	
             

          
	
             

          	
            Name: Stamatios Tsantanis

          	
             

          
	
             

          	
            Title:  Chief Executive Officer

          	
             

          

     

    Address for notice:

    Seanergy Maritime Holdings Corp.

    154 Vouliagmenis Avenue

    166 74 Glyfada

    Athens, Greece

    Attention: General Counsel

    Email: Legal@seanergy.gr

    

    

    [Signature Page to Indemnification Provisions

    Pursuant to April 2020 Placement Agency Agreement

    between Maxim Group LLC and Seanergy Maritime Holdings Corp.]

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