Document:

Exhibit 4.1

 

THE BANK OF NEW YORK MELLON

NEW YORK’S FIRST BANK-FOUNDED 1784 BY ALEXANDER HAMILTON

 

 

2 HANSON PLACE, 12TH FLOOR, BROOKLYN,
N.Y. 11217

 

 

 

April 17, 2012

 

Hennion & Walsh, Inc.

2001 Route 46, Waterview Plaza

Parsippany, New Jersey 07054

 

Smart Trust, New York Municipal Closed-End
Income Trust, Series 2

Dear Sirs:

The Bank of New York
Mellon is acting as trustee for Smart Trust, New York Municipal Closed-End Income Trust, Series 2 set forth above (the “Trust”).
We enclosed a list of the Securities to be deposited in the Trust on the date hereof. The prices indicated therein reflect our
evaluation of such Securities as of close of business on April 17, 2012, in accordance with the valuation method set forth in the
Trust Indenture and Agreement. We consent to the reference to The Bank of New York Mellon as the party performing the evaluations
of the Trust Securities in the Registration Statement (No. 333-180435) filed with the Securities and Exchange Commission with respect
to the registration of the sale of the Trust Units and to the filing of this consent as an exhibit thereto.

 

 

Very truly yours,

 

/s/
GERARDO CIPRIANO  

Vice PresidentExhibit 4.3

 

 

Consent of Independent
Registered Public Accounting Firm

We consent to the
reference made to our firm under the caption “Independent Registered Public Accounting Firm” in Part B of the Prospectus
and to the use of our report dated April 17, 2012, in this Registration Statement (Form S-6 No. 333-180435) of Smart Trust, New
York Municipal Closed-End Income Trust, Series 2.

 

/s/ Grant
Thornton LLP

Grant
Thornton LLP

Chicago, Illinois

April 17, 2012d1277738_ex4-5.htm

 

Exhibit 4.5

 

AMENDMENT TO RESTATED MANAGEMENT AGREEMENT

 

This Amendment to the Restated Management Agreement is made as of the 19th day of November, 2005, by and between Nordic American Tanker Shipping Limited, a Bermuda company (the "Company"), and Scandic American Shipping Ltd., a Bermuda company ("Scandic").

 

W I T N E S S E T H:

 

WHEREAS, the Company and Scandic are parties to a management agreement restated as of June 30, 2004, as further amended on October 12, 2004 and April 29, 2005 (the "Restated Management Agreement"); and

 

WHEREAS, the Company has agreed to provide employment to Scandic employees who are not directors or executive officers of Scandic upon the termination or expiration of the Restated Management Agreement.

 

NOW, THEREFORE, the Company and Scandic hereby agreed as follows:

 

1.           Section 4(e) of the Restated Management Agreement is hereby amended to read in its entirety as follows:

 

"The provisions of Section 3(b) and this Section 4 and the obligations of Company under Section 6(e) shall survive any termination of this Agreement."

 

2.           Section 6(e) is hereby added to Section 6 of the Restated Management Agreement and shall read in its entirety as follows:

 

"If this Agreement is terminated by the Company pursuant to this Section 6 or for any other reason, or is not extended for any reason upon the expiration of the term of this Agreement set forth in Section 2 above, the Company shall offer employment to each person who, as of the date of this Agreement is terminated or expires, is an employee of Scandic, provided that such person is not a director or executive officer of Scandic. Employment offered pursuant to this Section 6(e) to any employee of Scandic shall be upon terms that are substantially similar in all material respects to the terms of such employee's employment with Scandic which are in effect as of

 

  

  

  

the date this Agreement is terminated or expires, except to the extent such employee and the Company agree otherwise."

 

3.           The Restated Management Agreement shall otherwise remain in full force and effect.

 

IN WITNESS WHEREOF, the undersigned have executed this Amendment to the Restated Management Agreement as of the date first above written.

 

	/s/ illegible 	
NORDIC AMERICAN TANKER SHIPPING LIMITED

	/s/ Sir David Gibbons  	  
	/s/ Paul J. Hopkins  	  
	/s/ illegible  	
By:

	
/s/ George Lodge

	  	  	
Name: 

	  	  	
Title:

	  	  	  
	  	  	  
	  	
SCANDIC AMERICAN SHIPPING LTD.

	  	  
	  	  
	 	 	/s/ Herbjørn Hansson
	  	
By:

	
/s/ Andreas Ove Ugland

	  	  	
Name: 

	  	  	
Title:

	  	  	  
	  	  	  

 

2 of 2d1277738_ex4-8.htm

Exhibit 4.8

 

AMENDMENT TO RESTATED MANAGEMENT AGREEMENT

 

This Amendment to the Restated Management Agreement (this "Amendment") is a written confirmation of the decision made by the Board of Directors of the Company on June 7, 2010, and was intended to be effective as of the 1st day of July, 2010 (the "Effective Date"), by and between Nordic American Tanker Shipping Limited, a Bermuda company (the "Company"), and Scandic American Shipping Ltd., a Bermuda company ("Scandic").

 

W I T N E S S E T H:

 

WHEREAS, the Company and Scandic are parties to a management agreement restated as of June 30, 2004, as further amended on October 12, 2004, April 29, 2005, November 19, 2005, May 3, 2008 and May 31, 2009 (the "Restated Management Agreement");

 

WHEREAS, Section 3(a) of the Restated Management Agreement currently provides, inter alia, that the Company shall pay Scandic an annual fee of $225,000;

 

WHEREAS, the board of directors of the Company increased the annual fee payable to Scandic by the Company from $225,000 to $265,000;

 

Whereas, Section 5(c) of the Restated Management Agreement currently provides, inter alia, that the common shares issued to Scandic pursuant to the Restated Management Agreement may not be transferred for a period of three years from their date of issuance; and

 

WHEREAS, the Company and Scandic wish to amend Sections 3(a) and 5(c) of the Restated Management Agreement, respectively, to change the annual fee paid to Scandic and to extend the period during which shares issued to Scandic may not be transferred from three to six years.

 

NOW, THEREFORE, the Company and Scandic hereby agree as follows:

 

1.         Effective as of the Effective Date, Section 3(a) of the Restated Management Agreement is hereby amended in its entirety to read as follows:

 

"In consideration for Scandic's providing the services to the Company specified in this Agreement, the Company shall pay Scandic a fee at the annual rate of USD 350,000 (the "Fee") and cover Scandic's reasonable costs incurred to perform the abovementioned services (the "Costs"). The Fee shall be paid quarterly in advance, on each January 1, April 1, July 1 and October 1. The Costs shall be paid monthly in advance through a monthly cash call procedure to be agreed between the parties."

 

2.         Effective as of the Effective Date, Section 5(c) of the Restated Management Agreement is hereby amended in its entirety to read as follows:

 

  

  

  

 

"The Company shall issue to Scandic 194,132 common shares of the Company, equivalent to 2% of the Company's total outstanding common shares as of the date hereof, as promptly as practicable thereafter, in exchange for a payment by Scandic to the Company of $1,941.32. In the event the Company shall issue additional common shares to any third party or parties (a "Third Party Issuance"), the Company shall also issue that number of the additional common shares to the Manager such that the number of shares issued to the Manager pursuant to this Management Agreement shall equal 2% of the Company's total outstanding common shares after taking into account such Third Party Issuance. The 61.224 and 87.959 common shares issued to the Manager pursuant to this Agreement on August 15, 2007 and May 16, 2008, respectively, may not be transferred for a period of six years from their date of issuance and shall not be registered with the SEC. All other common shares issued to the Manager pursuant to this Agreement may not be transferred for a period of three years from their date of issuance and shall not be registered with the SEC. The certificates for such common shares shall bear appropriate restrictive legends to such effect."

 

3.         The Restated Management Agreement shall otherwise remain in full force and effect.

 

4.         This Amendment may be executed in several counterparts, and all counterparts so executed shall constitute one agreement, binding on all of the parties hereto, notwithstanding that all the parties are not signatory to the original or the same counterpart.

 

IN WITNESS WHEREOF, the undersigned have executed this written confirmation of the Amendment to the Restated Management Agreement, effective as of the Effective Date.

 

 

 

 

	/s/ Sir David Gibbons  	
NORDIC AMERICAN TANKER SHIPPING LIMITED

	  	  
	  	  
	/s/ Richard H. K. Victor  	
By:

	  
	  	  	
Name:

	  	  	
Title:

	/s/ Jim Kelly  	  	  
	 	 	 
	 	 	 
	/s/ Andreas Ove Ugland   	 	 
	   	 	 
	 	 	 
	/s/ Jan Erik Langangen 	 	 
	 	 	 
	  	  	  
	  	
SCANDIC AMERICAN SHIPPING LTD.

	  	  
	  	  
	 	
By:

	
/s/ Herbjørn Hansson

	  	  	
Name: Herbjørn Hansson

	  	  	
Title:

	 	  	  
	  	  	  

Page 2 of 2d1277738_ex4-9.htm

Exhibit 4.9

 

AMENDMENT TO RESTATED MANAGEMENT AGREEMENT

 

This Amendment to the Restated Management Agreement (this "Amendment") is a written confirmation of the decision made by the Board of Directors of the Company on November 4, 2011, and is intended to be effective as of the 1st day of December, 2011 (the "Effective Date"), by and between Nordic American Tankers Limited, a Bermuda company (the "Company"), and Scandic American Shipping Ltd., a Bermuda company ("Scandic").

 

W I T N E S S E T H:

 

WHEREAS, the Company and Scandic are parties to a management agreement restated as of June 30, 2004, as further amended on October 12, 2004, April 29, 2005, November 19, 2005, May 3, 2008, May 31, 2009 and May 6, 2011 (the "Restated Management Agreement");

 

WHEREAS, Section 3(a) of the Restated Management Agreement currently provides, inter alia, that the Company shall pay Scandic an annual fee of $350,000;

 

WHEREAS, the board of directors of the Company increased the annual fee payable to Scandic by the Company from $350,000 to $500,000;

 

NOW, THEREFORE, the Company and Scandic hereby agree as follows:

 

1.            Effective as of the Effective Date, Section 3(a) of the Restated Management Agreement is hereby amended in its entirety to read as follows:

 

"In consideration for Scandic's providing the services to the Company specified in this Agreement, the Company shall pay Scandic a fee at the annual rate of USD 500,000 (the "Fee") and cover Scandic's reasonable costs incurred to perform the abovementioned services (the "Costs"). The Fee shall be paid quarterly in advance, on each January 1, April 1, July 1 and October 1. The Costs shall be paid monthly in advance through a monthly cash call procedure to be agreed between the parties."

 

2.           The Restated Management Agreement shall otherwise remain in full force and effect.

 

3.           This Amendment may be executed in several counterparts, and all counterparts so executed shall constitute one agreement, binding on all of the parties hereto, notwithstanding that all the parties are not signatory to the original or the same counterpart.

 

 

[SIGNATURE PAGE TO FOLLOW]

 

  

  

  

IN WITNESS WHEREOF, the undersigned have executed this written confirmation of the Amendment to the Restated Management Agreement, effective as of the Effective Date.

 

	  	
NORDIC AMERICAN TANKERS LIMITED

	  	  
	  	  
	  	  	  
	  	
By

	  
	  	  	
Name:

	  	  	
Title:

	  	  
	  	
SCANDIC AMERICAN SHIPPING LTD.

	  	  
	  	  	  
	  	
By

	
/s/ Herbjørn Hansson

	  	  	
Name: Herbjørn Hansson

	  	  	
Title:

	
/s/ Andreas Ove Ugland

	  	  
	
Andreas Ove Ugland

	  	  
	  	  	  
	  	  	  
	
 
/s/ Sir David Gibbons

	  	  
	
Sir David Gibbons

	  	  
	  	  	  
	
 
/s/ Paul J. Hopkins

	  	  
	
Paul J. Hopkins

	  	  
	  	  	  
	  	  	  
	
s/ Richard H. K. Vietor

	  	  
	
Richard H. K. Vietor

	  	  
	  	  	  
	
 
/s/ Jim Kelly

	  	  
	
Jim Kelly

	  	  
	  	  	  
	
/s/ Jan Erik Langangen

	  	  
	
Jan Erik Langangen

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