Document:

Right of First Offer Agreement between Seaspan Corporation and Blue Water

 Exhibit 4.3 
 RIGHT OF FIRST OFFER AGREEMENT 
 This Right of First Offer Agreement is
entered into as of March 14, 2011 between Seaspan Corporation, a Marshall Islands corporation (“Seaspan”), and Blue Water Commerce, LLC, a Montana limited liability company (the “Washington
Entity”). 
 RECITALS 
 WHEREAS, Seaspan and the Washington Entity (whose Affiliates were involved in forming Seaspan, are significant shareholders of Seaspan, and have been sources of capital and other support for Seaspan) are
each members of Greater China Intermodal Investments LLC, a Marshall Islands limited liability company (“GC Intermodal”); 
 WHEREAS, the Washington Entity has certain rights of first refusal to acquire Container Vessels (as defined below) pursuant to that certain Right of First Refusal Agreement dated as of the date hereof
among GC Intermodal, Seaspan and the Washington Entity (as the same may be amended from time to time, the “ROFR Agreement”); and 
 WHEREAS, in connection with the execution of the ROFR Agreement, the parties agreed, and desire by their execution of this Agreement to evidence their agreement, that the Washington Entity,
in connection with its desire to provide support to Seaspan, would grant to Seaspan a right of first offer with respect to any proposed dispositions of Container Vessels by any Washington Group Member (as defined below), which Container Vessels were
acquired by a Washington Group Member pursuant to the ROFR Agreement (collectively, the “ROFO Vessels”). 
 AGREEMENT 
 NOW, THEREFORE, the parties hereby agree as follows:

  

	1.	Definitions 

 For purposes
of this Agreement: 
 “Affiliate” means, with respect to any specified person or entity, any other
person or entity who, directly or indirectly, controls, is controlled by, or is under common control with such person or entity, including without limitation any general partner, managing member, officer or director of such Person. 

“Charter” means any charter party agreement (including any bareboat, time, voyage or slot charter party), lease
with respect with which any Washington Group Member is the lessor, or any contract of affreightment, in each case providing for the use or other employment of any Container Vessel between any Washington Group Member, on the one hand, and any
unaffiliated third party, on the other hand. 
 “Control” means, when used with respect to a specified
Person, the power to direct or cause the direction of the management and policies of such Person, directly or indirectly, 

  
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whether through the ownership of voting securities or interests, by contract or otherwise. “Controlled” and “Controlling” will have correlative meanings.

 “Container Vessel” means an ocean-going vessel that is specifically constructed to transport
containerized cargo. 
 “Person” means any individual, corporation, limited liability company,
partnership, limited partnership, limited liability partnership, joint venture, trust, business trust, unincorporated association, estate or other legal entity. 
 “Subsidiary” means, with respect to any Person, any other Person more than 50% of the voting power of which is held, directly or indirectly, by such first Person and/or any of such
first Person’s Subsidiaries, or over which such Person either, directly or indirectly, exercises Control (including (i) any limited partnership of which such first Person, directly or indirectly, is the general partner or otherwise has the
power to direct or cause the direction of the management and policies thereof and (ii) any limited liability company of which such first Person, directly or indirectly, is the managing member or otherwise has the power to direct or cause the
direction of the management and policies thereof). 
 “Transfer” means any transfer, assignment, sale or
other disposition of any ROFO Vessel by a Washington Group Member; provided, however, that such term shall not include: (a) transfers, assignments, sales or other dispositions from a Washington Group Member to another Washington Group
Member or to Seaspan or its Affiliates; (b) any Charter; (c) grants of security interests in or mortgages or liens on such ROFO Vessel in favor of a bona fide third-party lender (and any foreclosing of any such security interest, mortgage
or lien or transfer in lieu thereof); or (d) transfers, assignments, sales or other dispositions from a Washington Group Member to an entity which is conducting an Initial Public Offering (as defined in the ROFR Agreement); and, provided
further, that, in connection with any transfer, assignment, sale or other disposition pursuant to clause (a) and which is to another Washington Group Member, such transferee assumes in writing all of the obligations imposed by this
Agreement on the Washington Entity and agrees to be bound by each of the terms and provisions of this Agreement. 

“Washington Group Member” means, individually, the Washington Entity and each of its Subsidiaries and Affiliates
and also Dennis R. Washington, Kyle R. Washington and Kevin L. Washington, any spouse, father, mother, brother, sister, lineal descendant of spouse or lineal descendant of Dennis R. Washington, Kyle R. Washington and Kevin L. Washington, and each of
such person’s respective controlled Affiliates, estate planning vehicles, trusts and related entities; provided, that this foregoing definition is solely for purposes of this Agreement and is not meant as an acknowledgement that any Washington
Group Member is the beneficial owner of securities of another Washington Group Member. 
  

	2.	Rights of First Offer 

(a) The Washington Entity, on behalf of itself and each other Washington Group Member, hereby grants Seaspan a right of first offer on any
proposed Transfer by any 

  
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Washington Group Member of any ROFO Vessels owned or acquired by any Washington Group Member. 
 (b) The parties acknowledge that all potential Transfers of ROFO Vessels pursuant to this Agreement are subject to obtaining any and all written consents of governmental authorities and other
non-affiliated third parties and to the terms of all existing agreements in respect of such ROFO Vessels. 
 (c) In the event
that a Washington Group Member (as applicable, the “Transferring Party”) proposes to Transfer any ROFO Vessel (the “Sale Vessel”), prior to offering to Transfer or Transferring the Sale Vessel, such
Transferring Party shall give Seaspan written notice setting forth all material terms and conditions (including, without limitation, the purchase price and a description of the Sale Vessel, any related charter contract and any financing that may be
assumed by the transferee in connection with such Transfer) on which such Transferring Party desires to Transfer the Sale Vessel (the “Transfer Notice”). If within 10 days after receipt of the Transfer Notice, Seaspan
delivers to the Transferring Party a written notice indicating its interest to negotiate to purchase the Sale Vessel (the “Notice of Interest”), the Transferring Party and Seaspan then shall be obligated to negotiate in good
faith for a 30 day period following the delivery by Seaspan of the Notice of Interest (the “First Offer Negotiation Period”) to reach an agreement for the Transfer of such Sale Vessel to Seaspan or any of Seaspan’s
Affiliates or Subsidiaries on the terms and conditions set forth in the Transfer Notice. Seaspan shall have the right to accept or reject, in its sole and absolute discretion, any offer with respect to the Sale Vessel that is made during the First
Offer Negotiation Period. If Seaspan does not deliver a Notice of Interest within 10 days after receipt of a Transfer Notice or if no agreement with respect to the Sale Vessel is reached during the First Offer Negotiation Period, then the
Transferring Party will have the right, in its sole and absolute discretion, during the 180 day period (subject to reasonable extension to obtain regulatory approvals) after the end of the First Offer Negotiation Period (or, if Seaspan did not
deliver a Notice of Interest, after the end of the period during which Seaspan was entitled to deliver a Notice of Interest) to Transfer the Sale Vessel to one or more third parties in any transaction or series of related transactions on terms and
conditions that are no less favorable to the Transferring Party than those included in the Transfer Notice. If the Sale Vessel is not Transferred during such 180 day period, then the Transferring Party shall not thereafter Transfer the Sale Vessel
without first offering such Sale Vessel to Seaspan again in the manner provided above. 
 (d) Notwithstanding anything herein to
the contrary, the rights of first offer granted to Seaspan in this Agreement shall terminate upon the tenth anniversary of the date hereof and shall thereafter be of no further force and effect. 

 

	3.	Miscellaneous 

  

	 	3.1	Successors and Assigns 

No party shall have the right to assign its rights or obligations under this Agreement without the consent of the other party hereto.

  
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	 	3.2	Governing Law 

 This
Agreement shall be subject to and governed by the laws of the State of Montana, excluding any conflicts-of-law rule or principle that might refer the construction or interpretation of this Agreement to the laws of another jurisdiction. Each party
hereby submits to the jurisdiction of the courts located in Missoula, Montana and to venue in Missoula, Montana in connection with any claims arising from this Agreement. 

 

	 	3.3	Counterparts; Facsimile 

This Agreement may be executed and delivered by facsimile signature and in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. 
  

	 	3.4	Titles and Subtitles 

 The
titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 
  

	 	3.5	Notices 

 All notices or
requests or consents provided for or permitted to be given pursuant to this Agreement must be in writing and must be given by depositing same in the mail, addressed to the person or entity to be notified, postpaid, and registered or certified with
return receipt requested or by delivering such notice in person or by private-courier, prepaid, or by telecopier to such party. Notice given by personal delivery or mail shall be effective upon actual receipt. Couriered notices shall be deemed
delivered on the date the courier represents that delivery will occur. Notice given by telecopier shall be effective upon actual receipt if received during the recipient’s normal business hours, or at the beginning of the recipient’s next
business day after receipt if not received during the recipient’s normal business hours. All notices to be sent to a party pursuant to this Agreement shall be sent to or made at the address set forth below, or at such other address as such
party may stipulate to the other parties in the manner provided in this Section: 
 if to Seaspan: 

Unit 2 – 7th Floor, Bupa Centre 
 141 Connaught Road West 
 Hong Kong 

Fax: (604) 638 2595 
 Attention: Corporate Secretary 
 with a copy to (which shall not constitute
notice): 
 Seaspan Ship Management Ltd. 
 2600 – 200 Granville Street 
 Vancouver BC V6C 1S4 

Attention: Secretary 

  
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 Fax No.: +1.604.648.9514 

with copy to (which shall not constitute notice): 
 Perkins Coie LLP 
 1120 N.W. Couch Street, Tenth Floor 

Portland, OR 97209-4128 
 Attn: David Matheson 
 Fax No.: +1.503.727.2222 

if to the Washington Entity: 
 c/o Washington Corporations 
 101 International Way, P.O. Box 16630 

Missoula, MT 59808 
 with copy to (which shall not constitute notice): 
 K&L Gates LLP 

925 4th Ave., Suite 2900 
 Seattle, WA 98104 
 Attention: Stephan Coonrod and Chris Visser 

Fax No.: (206) 623-7022 
  

	 	3.6	Amendments and Waivers 

This Agreement may be amended or modified from time to time only by the written agreement of each of the parties hereto. 

 

	 	3.7	Severability 

 In case any
one or more of the provisions contained in this Agreement is for any reason held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement, and
such invalid, illegal, or unenforceable provision shall be reformed and construed so that it will be valid, legal, and enforceable to the maximum extent permitted by law. 

 

	 	3.8	Entire Agreement 

 This
Agreement constitutes the full and entire understanding and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is
expressly canceled. 
  

	 	3.9	Delays or Omissions 

 No
delay or omission to exercise any right, power, or remedy accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power, or remedy of such nonbreaching or
nondefaulting party, nor shall it be 

  
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construed to be a waiver of or acquiescence to any such breach or default, or to any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed
a waiver of any other breach or default theretofore or thereafter occurring. All remedies, whether under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative. 

[Remainder of Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	COMPANY:
	
	SEASPAN CORPORATION
		
	By:	 	 /s/ Sai W. Chu

	Title: Chief Financial Officer
	
	WASHINGTON ENTITY:
	
	Blue Water Commerce, LLC
		
	By:	 	 /s/ Lawrence R. Simkins

	Title: Manager

  
 7Executive Employment Agreement between Seaspan Corporation and Gerry Wang

 Exhibit 4.4 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT is dated as of the 14 day of
March, 2011 but shall have retroactive effect as of January 1, 2011 (the “Effective Date”). 
 BETWEEN: 

SEASPAN CORPORATION 

AND: 
 GERRY WANG

 WHEREAS: 
  

	A.	The Executive has served since 2000 and is presently serving as the Company's Chief Executive Officer (“CEO”). 

 

	B.	Pursuant to an Executive Employment Agreement between the CEO and SSML, effective as of August 8, 2005, as amended effective as of January 1, 2009, the
Executive agreed to serve as the CEO of the Company. 

  

	C.	The Company and the Executive desire to enter into a new employment agreement. 

 NOW, THEREFORE in consideration of the terms and conditions set forth below, other good and valuable consideration the receipt and sufficiency of which is acknowledged by the parties, the parties hereto
agree as follows: 
  

	1.	DEFINITIONS 

  

	1.1	In this Agreement: 

“Affiliate” means, with respect to any Person, any Person who owns or controls, is owned or controlled by, or is under common ownership
or control with, such Person. As used in this definition, “control” or “controlled” means, with respect to any Person, the right to elect or appoint, directly or indirectly, a majority of the directors of such
Person or a majority of the Persons who have the right, including any contractual right, to manage and direct the business, affairs and operations of such Person, or the possession of the power to direct or cause the direction of the management and
policies of a Person, whether through ownership of voting securities, by contract, or otherwise. 
 “Agreement” means this
Executive Employment Agreement between the Company and the Executive. 
 “Benefits” means insured benefit plans and other
employee welfare benefits consistent with the policies of the Company customarily applicable to senior executives of the Company; provided, 

 
however, that Benefits shall exclude all bonus, retention, equity or equity related, retirement or similar benefit plans or benefits. 

“Board” means the Board of Directors of the Company. 
 “Business” means the business of owning and/or chartering (in or out) or re-chartering Container Vessels and any other lawful act or activity customarily conducted in conjunction
therewith. 
 “CEO” means the Company’s Chief Executive Officer 
 “Change of Control” means: 
  

	 	(a)	the sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or
substantially all of the Company’s assets; 

  

	 	(b)	an order made for, or the adoption by the Board of a plan of, liquidation or dissolution of the Company; 

 

	 	(c)	the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person” (as such term is
used in Section 13(d)(3) of the U.S. Securities Exchange Act of 1934, as amended) becomes the beneficial owner, directly or indirectly, of more than a majority of the Company’s voting securities, measured by voting power rather than number
of shares; 

  

	 	(d)	if, at any time, the Company becomes insolvent, admits in writing its inability to pay its debts as they become due, commits an act of bankruptcy, is adjudged bankrupt
or declares bankruptcy or makes an assignment for the benefit of creditors, or makes a proposal or similar action under the bankruptcy, insolvency or other similar laws of the Marshall Islands or any applicable jurisdiction or commences or consents
to proceedings relating to it under any reorganization, arrangement, readjustment of debt, dissolution or liquidation law or statute of any jurisdiction; 

  

	 	(e)	a change in directors after which a majority of the members of the Board are not Continuing Directors; or 

 

	 	(f)	 the consolidation of the Company with, or the merger of the Company with or into, any “person”, or the consolidation of any
“person” with, or the merger of any “person” (with or into, the Company, in any such event pursuant to a transaction in which any of the outstanding common shares of the Company are converted into or exchanged for cash,
securities or other property or receive a payment of cash, securities or other property, other than any such transaction where the Company’s voting stock outstanding immediately prior to such transaction is converted into or exchanged for
voting stock of the surviving or transferee “person” constituting a majority of the outstanding shares of such 

  
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voting stock of such surviving or transferee “person” immediately after giving effect to such issuance. 

 “Claims” means the claims described in Section 5.4. 
 “Common
Stock” means the Class A common shares of the Company, par value $0.01 per share. 
 “Company” means Seaspan
Corporation, a Marshall Islands corporation, or any successor to its business and/or assets as provided in Section 10.3. 

“Confidential Information” has the meaning ascribed to such term in Section 6.3. 

“Container Investment Opportunity” has the meaning provided in the Right of First Refusal Agreement. 

“Container Vessel” means an ocean-going vessel specifically constructed to transport containerized cargo. 

“Container Vessel Business” has the meaning provided in the Right of First Refusal Agreement. 

“Container Vessel Business Acquisition” has the meaning provided in the Right of First Refusal Agreement. 

“Continuing Directors” means, as of any date of determination, any member of the Board who either (i) was a member as of the
Effective Date or (ii) was nominated for election or appointment to the Board with the approval of the majority of the members of the Board who either were members of the Board as of the Effective Date or whose nomination or election was
previously so approved. 
 “Declined Investment Opportunity” has the meaning provided in the Non-Competition Agreement dated as
of the date hereof among the Executive and the GC Entities. 
 “Disability” means the Executive has one or more illnesses or
injuries that have rendered the Executive incapable (mentally, physically or otherwise) of substantially performing the Services on a full-time basis for a period of one hundred twenty (120) consecutive calendar days or a total of one hundred
eighty (180) calendar days in any 12-month period, as determined by a physician mutually chosen by the parties. 
 “Disability
Term” has the meaning ascribed to such term in Section 5.3(b). 
 “Effective Date” has the meaning ascribed to
such term in the introductory statement. 
 “Employment Period” means the period from the Effective Date to the Termination
Date. 
 “Entity” means any corporation, limited liability company, partnership, limited partnership, limited liability
partnership, joint venture, trust, business trust, organization, firm, unincorporated association, estate or other legal entity. 

  
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 “Execution Date” has the meaning ascribed to such term in Section 4.3(b). 

“Executive” means Gerry Wang. 

“GC Entities” means, collectively, Greater China Industrial Investments LLC and GC Intermodal. 

“GC Intermodal” means Greater China Intermodal Investments LLC. 
 “Good Reason” means the occurrence of any of the following events without the written consent of the Executive: 

 

	 	(a)	any reduction in the Executive’s Salary under this Agreement; 

  

	 	(b)	any material breach by the Company of this Agreement; 

  

	 	(c)	the Executive being assigned duties and responsibilities materially inconsistent with those normally associated with his position or there being any material change in
the Executive’s title or reporting hereunder, provided that any change contemplated in Section 2.2 will not be Good Reason; 

  

	 	(d)	the Company changes its purpose to include the conduct of business in addition to the Business (which shall exclude any investment by the Company in Greater China
Investments); 

  

	 	(e)	the occurrence of a winding up, dissolution or liquidation of the Company; 

 

	 	(f)	the Company assigns this Agreement in violation of Section 10.3; 

  

	 	(g)	a Change of Control of the Company; or 

  

	 	(h)	a request by the Board to resign pursuant to Section 2.7; 

 provided that the Executive terminates his employment for Good Reason hereunder within one hundred twenty (120) days from the date that he has actual notice of such reduction, change, material
breach, transfer or event. 
 “Greater China Investments” means (i) the GC Entities, (ii) each direct or
indirect Subsidiary of the GC Entities, (iii) any other Person in which the GC Entities have made a direct or indirect Investment and (iv) the successor entities of (i), (ii) and (iii). 

“Indemnitor” has the meaning ascribed to such term in Section 9.1. 
 “Investment” means any equity or debt investment made or committed to be made by the GC Entities or any of their Subsidiaries, except that payment of any general, administrative or other
operating or formation expense of the GC Entities or any of their Subsidiaries (including through any investment in any such entity, to the extent so designated by the Transaction Committee) will not constitute an Investment. 

  
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 “Just Cause” means conduct of the Executive that constitutes just cause to terminate the
Executive’s employment without any notice or compensation in lieu of notice at common law, and represents the occurrence or existence of any of the following events: 

 

	 	(a)	the Executive’s gross negligence in performing the Services or the Executive’s willful, material failure to comply with any lawful directive of the Board,
provided that written notice stating the basis for the termination is provided to the Executive and the Executive is given at least thirty (30) days to cure the neglect or conduct that is the basis of such claim and, if the Executive fails to
cure such neglect or conduct (or such neglect or conduct is incurable), the Executive shall have an opportunity to be heard before the full Board (at which the Executive may be accompanied by counsel) and, after such hearing, there is a majority
vote of all members of the Board (excluding the Executive) to terminate the Executive’s employment for Just Cause which vote is communicated to the Executive in writing; 

 

	 	(b)	the Executive’s willful, material breach of this Agreement, provided that written notice stating the basis for the termination is provided to the Executive and the
Executive is given at least thirty (30) days to remedy the breach that is the basis of such claim and, if the Executive fails to remedy such breach (or such breach cannot be remedied), the Executive shall have an opportunity to be heard before
the full Board (at which the Executive may be accompanied by counsel) and, after such hearing, there is a majority vote of all members of the Board (excluding the Executive) to terminate the Executive’s employment for Just Cause which vote is
communicated to the Executive in writing; 

  

	 	(c)	the Executive having been convicted of, or having entered a guilty plea or settlement admitting guilt for, any crime, which commission, conviction, plea or settlement
results in a Material Adverse Effect except where the Executive has been convicted of (or pleads nolo contendere to) a crime relating to environmental or shipping laws absent an intentional criminal act by the Executive; or 

 

	 	(d)	the Executive having been the subject of any order, judicial or administrative, obtained or issued by a securities commission, for, any securities violation involving
fraud or other moral turpitude, which results in a Material Adverse Effect; 

 provided that the Company terminates the
Executive’s employment within one hundred twenty (120) days from the date the Company has actual notice of such gross negligence, failure, breach, order or event. 
 “Material Adverse Effect” means a material consequential negative effect on the financial conditions or operations of the Company, or a materially injurious and continuing effect on the
reputation of the Company. 
 “New Build” means a Vessel under construction or to be constructed pursuant to a ship building
contract between the Company or a controlled Affiliate thereof and a ship builder. 

  
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 “New Build Contract” has the meaning ascribed to such term in Section 4.3(a).

 “Passive Investments” means any investment by a Person in any Entity pursuant to which (i) such Person does not have
the right or ability to (A) exercise control over such Entity, (B) appoint, elect or designate any director of any Entity (or other Person performing a similar function) in connection with such investment or (C) veto or block any
material transaction effected by any Entity in which such investment is made (other than veto or blocking rights held by all holders of any class or series of equity or debt securities of such Entity, provided, that such Person does not own or
control a majority of such class or series of equity or debt securities or hold a number of such securities sufficient to allow such Person to control any determination relating to any such veto or blocking right) and (ii) such Person in the
aggregate, directly or beneficially, owns less than 20% of the voting stock or other equity interests then outstanding (whether voting or nonvoting) of such Entity. For the avoidance of doubt, an investment with respect to which (a) a Person or
its Affiliate serves as a member of the Entity’s board of directors, board of managers or similar governing body (in each case, other than Permitted Service), or otherwise serves as a consultant or paid advisor to such Entity, or (b) a
Person, together with its Affiliates, owns 20% or more of the voting stock or other equity interests then outstanding (whether voting or nonvoting) of such Entity, is not a Passive Investment for purposes of this Agreement. 

“Performance Bonus” has the meaning ascribed to such term in Section 4.2. 
 “Performance Cash” has the meaning ascribed to such term in Section 4.2. 

“Performance Objectives” has the meaning ascribed to such term in Section 4.2. 

“Performance Shares” has the meaning ascribed to such term in Section 4.2. 

“Permitted Service” means service as a member of the board of directors, board of managers or similar governing bodies of, Entities
other than the Company and its Subsidiaries, (x) with respect to Entities whose business is outside the scope of the Business, and (y) with respect to Entities whose business is within the scope of the Business, subject to the prior
approval of a majority of the Board. 
 “Person” means any individual or Entity. 

“Post-Employment Service Period” has the meaning ascribed to such term in Section 2.6. 

“Purchase or Sale Contract” has the meaning ascribed to such term in Section 4.3(a). 

“Rejected Investment” means an acquisition by Washington or its Affiliates of Washington Identified Vessels in connection with the
exercise by Washington of its rights pursuant to Section 2(c) of the Right of First Refusal Agreement. 
 “Restrictive Covenant
Agreement” has the meaning ascribed to such term in Section 7.1. 
 “Restricted Period” has the meaning ascribed
to such term in Section 7.2. 

  
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 “Right of First Refusal Agreement” means that certain Right of First Refusal Agreement,
dated as of the date hereof, by and among the Company, GC Intermodal and Washington. 
 “ROFR Period” means the period
beginning as of the date of this Agreement and ending on the earlier of (a) March 31, 2015, (b) the date on which GC Intermodal is dissolved or liquidated and (c) the date on which the Right of First Refusal Agreement is terminated
pursuant to Section 5 thereof. 
 “Salary” has the meaning ascribed to such term in Section 4.1. 

“SC Trading Average” means, as of a given date, the volume-weighted, average trading price of Common Stock for the 20 trading days
immediately preceding such date. 
 “Services” means those services set out in Section 2.2. 

“SMSL” means Seaspan Management Services Ltd., a company formed under the laws of British Columbia, or any successor thereof.

 “SSML” means Seaspan Ship Management Ltd., a company formed under the laws of Bermuda, or any successor thereof. 

“Subsidiary” means, with respect to any Person, any other Person more than fifty (50%) percent of the voting power of which is
held, directly or indirectly, by such first Person and/or any of such first Person’s Subsidiaries, or over which such Person either directly or indirectly exercises Control (including (i) any limited partnership of which such first Person,
directly or indirectly, is the general partner or otherwise has the power to direct or cause the direction of the management and policies thereof and (ii) any limited liability company of which such first Person, directly or indirectly, is the
managing member or otherwise has the power to direct or cause the direction of the management and policies thereof). 
 “Term”
has the meaning ascribed to such term in Section 3.1. 
 “Termination Date” means the effective date of the
Executive’s termination of employment hereunder in accordance with Section 5. 
 “Transaction” means a transaction
effected pursuant to a New Build Contract or a Purchase or Sale Contract. 
 “Transaction Committee” means, as applicable, the
Transaction Committee of the Board of Managers of Greater China Industrial Investments LLC or GC Intermodal. 
 “Transaction
Fee” has the meaning ascribed to such term in Section 4.3(a). 
 “Transaction Fee Payment Date” has the meaning
ascribed to such term in Section 4.3(b). 
 “Transaction Fee Shares” has the meaning ascribed to such term in 4.3(b).

 “Transaction Services” means the following services: 

  
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 (a) identifying, negotiating and securing opportunities for the Company or its controlled
Affiliates to acquire or to construct vessels, and negotiating and carrying out the purchase of both new and used vessels; 

(b) identifying, negotiating and securing potential divestitures or dispositions of any of the Vessel Assets; 

(c) negotiating New Build Contracts and related specifications and documentation; and 

(d) negotiating Vessel purchase and sale agreements and related documentation. 
 “Transaction Services Agreement” means the Transaction Services Agreement entered into between the Company and the Executive, on the date hereof, in the form attached hereto as Exhibit A.

 “Vacation” means the Executive’s entitlement to paid vacation during the Employment Period set out in
Section 4.4(c). 
 “Vessel Assets” means the Vessels and any assets that are customarily owned or operated in conjunction
with the Vessels, in each case. 
 “Vessel Purchase Contract” has the meaning ascribed to such term in the Right of First
Refusal Agreement. 
 “Vessels” means the Container Vessels owned or leased by the Company or any of its controlled Affiliates
from time to time and “Vessel” means any one of them. 
 “Washington” means Blue Water Commerce, LLC, a
limited liability company formed under the laws of Montana 
 “Washington Identified Vessels” has the meaning ascribed to such
term in the Right of First Refusal Agreement. 

  
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	2.	POSITION AND SERVICES 

  

	2.1	Employment by the Company 

 The Company
will continue to employ the Executive, and the Executive will serve the Company during the Employment Period, on the terms and conditions set out herein. 
  

	2.2	Appointment as CEO of the Company 

Subject to Section 2.5, during the Employment Period the Executive will hold the position of CEO of the Company and will have the powers and
authorities customarily associated with such office, will perform the duties and responsibilities normally or usually associated with the position of CEO of the Company and will perform such other duties as may from time to time reasonably be
delegated to the Executive by the Board (the “Services”) consistent with Section 2.4; provided, however, that the Board may appoint a President and/or Chief Operating Officer and delegate to such officers such
duties and responsibilities as the Board determines. The Executive will perform the Services competently, efficiently and with due care and, except as provided in Sections 2.3 and 2.4 but subject to applicable fiduciary duties as an officer of
the Company, the Executive will act in the best interest of the Company. 
  

	2.3	Acknowledgement of Status as CEO of SSML and Other Services 

 The Company hereby acknowledges that the Executive also will hold the position of CEO of SSML and may also serve in one or more of the following positions: director, manager, officer or employee of, or
advisor or consultant to, Greater China Investments and/or Tiger Management Limited. The Company acknowledges that the Executive may invest and own or hold equity interests in SMSL and its Subsidiaries (including SSML), Greater China Investments
and/or Tiger Management Limited and its Subsidiaries, and that such interests may be significant. The Company also acknowledges that (a) GC Intermodal and its Subsidiaries plan to engage in activities competitive with the activities of the
Company and its Subsidiaries, including the Business and the investment in, and ownership and operation of, Container Vessels and (b) Tiger Management Limited and certain of its Subsidiaries intend to provide certain services to Greater China
Investments in connection with the activities of Greater China Investments. Such activities shall not constitute a breach of this Agreement. 
  

	2.4	Devotion of Time 

 The Executive will
devote such portion of his normal business time and attention to the Services as is reasonably necessary for the conduct thereof. The Company acknowledges that the amount of time the Executive will allocate among the respective businesses of the
Company, SSML or any controlled Affiliates thereof and Greater China Investments will vary from time to time depending on various circumstances and needs of such businesses. 

 

	2.5	Location of Offices 

 The Company
maintains its principal executive offices at a location in the greater Hong Kong metropolitan area. During the Employment Period, the Executive shall be based in either the greater Hong Kong metropolitan area or the greater Vancouver, British
Columbia metropolitan 

  
 9 

 
area as required or permitted (upon the Executive’s request which may not be unreasonably denied) by the Company from time to time. 

 

	2.6	Post-Employment Period Transaction Services 

 Following the expiration of the Employment Period and until the expiration of the ROFR Period (the “Post-Employment Service Period”), the Company shall engage the Executive (or a
controlled Affiliate of the Executive nominated by the Executive) to provide to the Company the Transaction Services in accordance with and subject to the terms and conditions of the Transaction Services Agreement. The Transaction Services Agreement
shall become effective upon the expiration of the Employment Period. 
  

	2.7	Resignation of Director Status 

 If at any
time following the expiration or termination of the ROFR Period (but during the Employment Period) the Board requests that the Executive tender his resignation as a director of the Company, the Executive shall tender his resignation with immediate
effect. 
  

	3.	TERM 

  

	3.1	Term 

 The term of the Executive’s
employment pursuant to this Agreement shall be the period from the Effective Date through January 1, 2013 (the “Term”). Notwithstanding the foregoing, the parties may mutually agree to extend the Term beyond January 1,
2013. 
  

	3.2	Termination During Term 

 Notwithstanding
any other provision contained in this Agreement, the employment of the Executive under this Agreement may be terminated in accordance with Section 5 at any time. 
  

	4.	COMPENSATION AND BENEFITS 

  

	4.1	Salary 

 During the Employment Period, the
Company will pay to the Executive an annual salary of US$1.2 million (the “Salary”), less appropriate deductions and withholdings, payable on not less than a monthly basis, in accordance with the Company’s customary payroll
practices for executive salaries. The Board (or an appropriate committee thereof) will review the Salary from time to time during the Employment Period and may, in its sole discretion, increase the Salary. The Salary, as increased, may not be
reduced without the written consent of the Executive. 
  

	4.2	Performance Bonus. 

  

	 	(a)	 Each year during the Term the Executive shall be entitled to receive an annual performance bonus (the “Performance Bonus”) with a
target amount of US$1.5 million based upon the attainment of performance objectives (the 

  
 10 

	 	 
“Performance Objectives”) for such year to be mutually agreed upon by the Executive and the Company in good faith (i) within forty-five (45) days following the date of
this Agreement with respect to the year ending December 31, 2011 and (ii) March 31, 2012 with respect to the year ending December 31, 2012. The Board (or an applicable committee thereof) shall determine attainment of the
Performance Objectives and the amount of the Performance Bonus for a given year in its sole discretion. 

  

	 	(b)	 Fifty percent (50%) of any Performance Bonus shall be paid in cash (the “Performance Cash”) and the remaining fifty percent
(50%) shall be paid in fully vested shares of Common Stock (the “Performance Shares”), with the number of shares based upon the SC Trading Average as of December 31st of the applicable year. The Performance Cash will be paid in a lump sum, and the Performance Shares shall be issued
and delivered, promptly following determination of the amount of the annual Performance Bonus by the Board (or an applicable committee thereof) but in no event later than March 31st of the year following the year it was earned. 

 

	 	(c)	 Subject to Section 5, the Executive must remain continuously employed by the Company and its Affiliates on December 31st of each applicable performance year to receive a Performance Bonus.

  

	4.3	Transaction Fees 

  

	 	(a)	 In the event that during the Term the Company (or one of its controlled Affiliates) enters into any definitive, legally-binding agreement providing for
(i) New Build construction (a “New Build Contract”) or (ii) the purchase, acquisition or sale of any Vessel (including, in the case of a sale transaction, whether such transaction is effected as an acquisition or
disposition of such assets directly or of the equity of an entity owning such assets or otherwise) (a “Purchase or Sale Contract”), the Executive shall be entitled to a fee (a “Transaction Fee”) in the amount of one
and a quarter (1.25%) percent of the aggregate consideration payable by or to the Company (or the controlled Affiliate) pursuant to such New Build Contract or Purchase or Sale Contract, as applicable. For the avoidance of doubt, the aggregate
consideration payable pursuant to any Purchase or Sale Contract for purposes of calculating the Transaction Fee hereunder shall (x) include the aggregate amount of debt assumed by the buyer in connection with such transaction and (y) be
reduced by the amount of any such Transaction Fee paid to the Executive by the applicable ship builder or Vessel purchaser or seller, as applicable. Notwithstanding any provision of this Agreement to the contrary: (1) the Transaction Fee
is not and shall not be regarded for any purpose as salary, wages, benefits nor employment remuneration on any account, but shall be regarded as wholly separate and apart therefrom and solely as business income to the Executive; and (2) the
Transaction Services are not and shall not be regarded as being rendered by the Executive as an employee of the Company, nor in his capacity as an officer of the Company, nor by virtue of his office at the Company, but as business services
independently rendered to the 

  
 11 

	 	 
Company by the Executive. The Company will make the appropriate withholdings and deductions on the basis the Transaction Fees constitute business income (and not salary, wages, benefits or
employment remuneration) to the Executive. Notwithstanding anything to the contrary (including, without limitation, Article 9 of this Agreement), the Executive agrees to be fully responsible for and to pay when due and shall indemnify, defend
and hold harmless the Company (and its agents, employees, officers, and directors) from and against, any and all domestic and foreign federal, state, provincial and local taxes, withholdings or contributions, including interest and penalties thereon
and additions thereto, and for costs and expenses (including attorney’s fees), with respect to the Company making its withholdings and deductions on this basis on any and all Transaction Fees payable. The Transaction Fees shall be paid pursuant
to this Section 4.3 regardless of whether the Transaction was proposed or recommended by the Executive, an Affiliate or any third party. 

  

	 	(b)	Subject to Section 5, the Transaction Fee shall be payable by the Company (i) with respect to a New Build Contract, incrementally and concurrently with each
installments payment made by the Company (or the controlled Affiliate) under such New Build Contract and (ii) with respect to a Purchase or Sale Contract, on the applicable closing date of the Vessel purchase or sale thereunder (each a
“Transaction Fee Payment Date”). The Transaction Fees shall be paid in either (i) cash or (ii) a combination of cash and up to fifty (50%) percent shares of Common Stock (“Transaction Fee Shares”) as
determined by the Company in its sole discretion. The number of Transaction Fee Shares to be granted shall be based upon the SC Trading Average as of the applicable Transaction Fee Payment Date. The Transaction Fee Shares shall be fully vested on
the date of grant. 

  

	 	(c)	Subject to Section 5, the Executive must be employed by the Company or an Affiliate on the date on which the New Build Contract or Purchase or Sale Contract is
entered into (the “Execution Date”) but need not be so employed on the Transaction Fee Payment Date to receive payment of the Transaction Fees in accordance with this Section 4.3. 

 

	 	(d)	In no event shall any Transaction Fee be payable in connection with the transactions resulting in a Change of Control. Following a Change of Control, the Executive
shall continue to receive Transaction Fees (with respect to Transactions occurring prior to and following the Change of Control) in accordance with this Section 4.3. 

 

	 	(e)	Notwithstanding anything to the contrary, the amount of the Transaction Fee payable in connection with a Transaction shall be reduced (but not below zero) by the amount
of any similar fee paid by the Company in connection with such Transaction to an investment banking firm of nationally-recognized standing in the United States or Canada, which firm is retained with the approval of the Board, including in such
approval a majority of the independent members of the Board. 

  
 12 

	 	(f)	Notwithstanding anything to the contrary, the Executive shall not enter into any New Build Contract or Purchase or Sale Contract without the prior approval of the Board
(or an applicable committee thereof), and the Company and its Subsidiaries shall be under no obligation to accept any opportunity to enter into a New Build Contract or Purchase or Sale Contract (or to undertake any related transaction) presented to
the Company or one of its Subsidiaries by the Executive or otherwise. 

  

	4.4	Benefits 

 During the Employment Period:

  

	 	(a)	the Company will provide parking, at no cost to the Executive, within reasonable proximity to the Company’s primary office location and the Executive will be
responsible for any tax obligations arising from such parking; 

  

	 	(b)	the Company will make available to the Executive the Benefits, provided the Executive meets the eligibility requirements and other terms, conditions and restrictions of
the Benefits; and 

  

	 	(c)	the Executive will be entitled to 5 weeks paid vacation, including any statutory annual leave, during each calendar year (the “Vacation”).

  

	4.5	Expenses 

  

	 	(a)	The Company will reimburse the Executive for all reasonable business and entertainment expenses incurred by the Executive in connection with the performance of the
Executive’s duties hereunder. The Executive will account for such expenses in accordance with the Company’s regular reimbursement procedures and practices in effect from time to time. 

 

	 	(b)	The Company will promptly reimburse the Executive for all of the Executive’s reasonable legal fees and expenses incurred in connection with the negotiation and
documentation of this Agreement. 

  

	4.6	Registration of Shares 

 Within 15 days of
this Agreement, the Company shall register the Performance Shares and Transaction Fee Shares under a Form S-8 registration statement filed with the U.S. Securities and Exchange Commission. 

 

	4.7	No Other Compensation 

 The Executive is
not entitled to any other compensation in respect of the Services other than the compensation set out in Section 4. 

  
 13 

	4.8	Withholding 

 All payments and awards to
the Executive pursuant to this Agreement shall be subject to appropriate deductions and withholdings for tax purposes. 
  

	5.	TERMINATION 

  

	5.1	Termination by the Company 

  

	 	(a)	The Company, in its sole discretion and at any time, may terminate the employment of the Executive: 

 

	 	(i)	immediately upon giving written notice for Just Cause; or 

  

	 	(ii)	without Just Cause subject to providing the Executive with at least three months’ advance written notice of the Termination Date; 

in which case the Executive will be entitled to Salary, Benefits and an amount equal to the Salary in lieu of outstanding Vacation
entitlement payable up to the Termination Date, payable on or as soon as practicable following the Termination Date. 
  

	 	(b)	If the Company terminates the Executive’s employment pursuant to paragraph 5.1(a)(ii) above, (i) the Executive will be entitled to the continued payment in
the ordinary course of Transaction Fees for any Transactions for which the Execution Date was prior to the Termination Date in accordance with Section 4.3 and (ii) the Executive will receive a prorated Performance Bonus based upon the
actual number of days he worked during the applicable year determined as if all Performance Objectives for such year were attained in full. The Performance Bonus shall be paid within fifteen (15) days following the Termination Date.

  

	 	(c)	If the Company terminates the Executive’s employment pursuant to paragraph 5.1(a)(i) above, the Executive shall forfeit twenty-five (25%) percent of any
unpaid Transaction Fees pursuant to Section 4.3 relating to payments made after the Termination Date but with respect to Transactions for which the Execution Date was prior to the Termination Date. 

 

	 	(d)	During the notice period under paragraph 5.1(a)(ii) above, the Executive shall, unless otherwise requested by the Company, continue to provide Services consistent with
Section 2 as directed by the Board. In the event a successor is appointed as CEO of the Company during the notice period, the notice period shall end automatically (the Termination Date shall thereby be deemed to occur) and the Executive’s
obligation to provide Services hereunder shall terminate. 

  

	5.2	Termination by Executive 

  

	 	(a)	The Executive may resign from employment with the Company: 

  
 14 

	 	(i)	at any time with immediate effect for Good Reason; or 

  

	 	(ii)	at any time without Good Reason by providing to the Company at least three months’ advance written notice of resignation; 

in which case the Executive will be entitled to Salary, Benefits and an amount equal to the Salary in lieu of outstanding Vacation
entitlement payable up to the Termination Date, payable on or as soon as practicable following the Termination Date. 
  

	 	(b)	If the Executive terminates his employment pursuant to paragraph 5.2(a)(i) above, (i) the Executive will be entitled to the continued payment in the ordinary
course of Transaction Fees for any Transactions for which the Execution Date was prior to the Termination Date in accordance with Section 4.3 and (ii) the Executive will receive a prorated Performance Bonus based upon the actual number of
days he worked during the applicable year determined as if all Performance Objectives for such year were attained in full. The Performance Bonus shall be paid within fifteen (15) days following the Termination Date. 

 

	 	(c)	If the Executive terminates his employment pursuant to paragraph 5.2(a)(ii) above, the Executive shall forfeit twenty-five (25%) percent of any unpaid Transaction
Fees pursuant to Section 4.3 relating to payments made after the Termination Date but with respect to Transactions for which the Execution Date was prior to the Termination Date. 

 

	 	(d)	During the notice period under paragraph 5.2(a)(ii) above, the Executive shall, unless otherwise requested by the Company, continue to provide Services consistent with
Section 2 as directed by the Board. In the event a successor is appointed as CEO of the Company during the notice period, the notice period shall end automatically (and the Termination Date shall thereby be deemed to occur) and the
Executive’s obligation to provide Services hereunder shall terminate. Notwithstanding the foregoing, the Executive may resign from employment with the Company for any reason with immediate effect and without prior notice upon the expiration of
the ROFR Period. In such event, the Termination Date shall be the date the Executive delivers notice. 

  

	5.3	Death and Disability 

  

	 	(a)	Death. If the Executive dies during the Employment Period, the employment of the Executive will terminate as of the date of death and the Company will pay
forthwith to the estate of the Executive the Salary and Benefits through the date of death and an amount equal to the Salary in lieu of outstanding Vacation entitlement payable up to the Termination Date, payable on or as soon as practicable
following the Termination Date. In addition the Executive’s estate will continue to receive the Transaction Fees in accordance with Section 4.3 with respect to any Transactions for which the Execution Date was prior to the
Executive’s death. 

  
 15 

	 	(b)	Disability. If the Company terminates the Executive’s employment by reason of Disability, (i) the Executive will be entitled to Salary, Benefits and an
amount equal to the Salary in lieu of outstanding Vacation entitlement payable up to the Termination Date and (ii) the Company will pay the Executive continued Salary payments for one (1) year from the Termination Date (the
“Disability Term”) without setoff, deduction (other than applicable deductions and withholding for taxes) or any other reduction or claim whatsoever. The Executive will also continue to participate in the Benefits during the
Disability Term, subject to the terms and conditions of the Benefits plans without setoff, deduction (other than applicable deductions and withholding for taxes), or any other reduction or claim whatsoever. In addition the Executive will continue to
receive the Transaction Fees in accordance with Section 4.3 with respect to any Transactions for which the Execution Date was prior to the Termination Date. 

 

	5.4	Termination of Obligations 

 In the event
of termination of the employment of the Executive by the Company, by the Executive, by expiration of the Term or otherwise, all obligations of the Company to the Executive pursuant to this Agreement will terminate except as specifically set forth in
this Section 5 and the Company will have no further obligation or liability for any claim, action or demand, whether at common law or under any legislation from time to time applicable and in force or otherwise for damages or loss sustained by
the Executive arising out of the employment of the Executive by the Company or the termination or cessation of that employment (collectively, “Claims”). Immediately following payment of the Performance Bonus and other amounts
pursuant to this Section 5, the Executive shall execute and deliver to the Company a valid and binding release (in form and substance reasonably satisfactory to the Company) of any and all Claims that the Executive then has or may have against
the Company, its Affiliates and representatives, other than the Executive's rights under this Agreement. The release shall not apply to the Executive’s rights under the Transaction Services Agreement. 

 

	6.	CONFLICTS OF INTEREST, CONFIDENTIALITY, AND DEFENSE OF CLAIMS 

  

	6.1	Conflicts of Interest 

 During the
Employment Period the Executive will promptly disclose to the Board any conflict of interest involving the Executive, upon the Executive becoming aware of such conflict, it being understood and agreed that the Executive’s activities on behalf
of or in connection with SMSL and its Subsidiaries, Tiger Management Limited and its Subsidiaries and Greater China Investments shall be deemed not to constitute a conflict of interest for this purpose. The Company agrees that Executive shall have
no obligation to disclose to the Company or its Affiliates any confidential information of Greater China Investments or of Tiger Management Limited and its Subsidiaries. 

  
 16 

	6.2	Confidentiality 

 The Executive
acknowledges that in the course of carrying out, performing and fulfilling the Executive’s obligations to the Company, the Executive will have access to and be entrusted with Confidential Information of the Company, and that the disclosure of
such information (to competitors, suppliers or clients of the Company, to the general public or otherwise) would be detrimental to the best interests of the Company. All Confidential Information and every portion thereof, constitutes the valuable
property of the Company, its customers, or third parties. The Executive further acknowledges the importance of maintaining the security and confidentiality of the Confidential Information. Upon termination of the Employment Period and upon the
Company's request from time to time thereafter, the Executive will return any Confidential Information then in his possession to the Company except that the Executive shall be entitled to retain: 

 

	 	(a)	papers and other materials of a personal nature, including but not limited to, photographs, correspondence, personal diaries, calendars and Rolodexes, personal files
and phone books, 

  

	 	(b)	information showing the Executive’s compensation or relating to reimbursement of expenses, 

 

	 	(c)	information that the Executive reasonably believes may be needed for tax purposes, 

 

	 	(d)	copies of plans or programs relating to the Executive’s employment, or termination thereof, with the Company, and 

 

	 	(e)	minutes, presentation materials and personal notes from any meeting of the Board, or any committee thereof, while the Executive was a member of the Board (provided the
Executive keeps such Board materials and personal notes relating to the Board or committee meetings confidential in accordance with this Section 6). 

 If the Executive retains any of the documents upon the termination of the Employment Period (or upon any subsequent request by the Company as set forth above) set out in (a) to (e) above, the
Executive will provide a copy of such document to the Company. 
  

	6.3	Confidential Information 

  

	 	(a)	 For the purpose of this Agreement “Confidential Information” means confidential information or data about the Company and its
business, affairs and operations, including, without limitation, (i) trade secrets, know-how, processes, drawings, formulas, standards, product specifications, marketing plans and techniques, strategic plans, cost figures, assets, all client or
customer information (including without limitation their names, preferences, financial information, physical and e-mail addresses and contact numbers), all systems hardware and software applications, all software/systems source and object codes,
data, documentation, program files, flow charts, financial and operational information, and all operational procedures of the Company and (ii) the proceedings and 

  
 17 

	 	 
deliberations of the Company’s Board and its committees; provided, however, that information that the Executive transmits to Greater China Investments pursuant to the Right of
First Refusal Agreement and that relates to Container Investment Opportunities or Container Vessel Business Acquisitions (and not to the Company, the Company’s ability to exercise its rights under the Right of First Refusal Agreement with
respect to such Container Investment Opportunities or Container Vessel Business Acquisitions, or the Board’s proceedings or deliberations with respect to such Container Investment Opportunities or Container Vessel Business Acquisitions) shall
not be deemed Confidential Information. 

  

	 	(b)	All Confidential Information provided to the Executive is subject to this Agreement whether provided directly to the Executive or not and whether inadvertently
disclosed to the Executive or not. 

  

	 	(c)	Despite Section 6.3(a), Confidential Information does not include information which the Executive can prove is information which is in the public domain at the
date of disclosure to the Executive, or which thereafter enters the public domain, in each case through no fault of the Executive provided that any combination of information that is Confidential Information will not be included within the exception
merely because individual parts of the information were within the public domain unless the combination itself was in the public domain. 

  

	6.4	Restriction 

  

	 	(a)	Except as may be expressly required in the course of carrying out the Executive’s duties and obligations under this Agreement, the Executive will (i) keep the
Confidential Information and all documentation and information relating thereto strictly confidential, and (ii) not disclose any Confidential Information to any Person or use or exploit, directly or indirectly, any Confidential Information
(x) for any purpose other than the proper purposes of the Company or (y) in any manner detrimental to the Company, in each case, either during the Employment Period, or at any time thereafter. 

 

	 	(b)	Despite Section 6.4(a), if the Executive is requested or required by any law, regulation or rule, or any legal, regulatory or administrative process to disclose
any Confidential Information, the Executive shall promptly, if legally permitted, notify the Company in writing of such request or requirement so that the Company may seek an appropriate protective order or other relief. The Executive will not
oppose any effort by the Company to resist or narrow such request or to seek a protective order or other appropriate remedy. In any case, the Executive will: 

 

	 	(i)	disclose only that portion of the Confidential Information that, according to the advice of his counsel, he is legally compelled or otherwise required to disclose;

  
 18 

	 	(ii)	use his reasonable efforts (at the expense of the Company) to obtain assurances that such Confidential Information will be treated confidentially; and

  

	 	(iii)	if legally permitted, notify the Company in writing as soon as reasonably practicable of the Confidential Information so disclosed. 

 

	6.5	Defense of Claims 

 The Executive will,
during the Employment Period and for a period of twenty four (24) months after the Termination Date, upon request from the Company, cooperate with the Company and its Affiliates in the defense of any claims or actions that may be made by or
against the Company or any of its Affiliates that relate to the Services, except if the Executive’s reasonable interests are adverse to the Company or its Affiliates in such claim or action. The Company will pay the Executive reasonable
compensation for his time expended at a rate per diem therefore no less than the Salary per diem to meet his obligations hereunder and pay or reimburse the Executive for all of the Executive’s reasonable travel and other direct expenses
incurred or to be reasonably incurred, to comply with the Executive’s obligations under this Section, against appropriate documentation of such expenses. 
  

	7.	RESTRICTIVE COVENANTS 

  

	7.1	Restrictive Covenant Agreement 

 Effective
as of the date of this Agreement, that certain Restrictive Covenant Agreement, effective as of August 8, 2005, among SSML, the Company and the Executive (the “Restrictive Covenant Agreement”) shall be terminated and the
Executive and the Company agree that they shall have no further rights or obligations thereunder. 
  

	7.2	Restrictive Covenants 

  

	 	(a)	Subject to Section 7.2(b), during the Employment Period and (i) in the case of a termination of the Executive’s employment for Just Cause, for a period
of three months following the Termination Date, and (ii) in the case of a termination of the Executive’s employment without Just Cause or a resignation by the Executive without Good Reason, for the period, if any, from the Termination Date
to the date three months following the delivery of written notice of termination or resignation, as the case may be (such period being the “Restricted Period”), the Executive shall be prohibited from, directly or indirectly,
engaging in the Business and from acquiring or investing in any business involved in the Business. 

  

	 	(b)	Notwithstanding anything set forth in Section 7.2(a), during the Restricted Period the Executive may directly or indirectly through an Affiliate:

  

	 	(i)	make or hold any Passive Investments; 

  
 19 

	 	(ii)	invest in an entity that derives less than 10% of its revenue from the Business; 

 

	 	(iii)	invest in and provide services (as a director, manager, officer or employee of, or advisor or consultant) to Greater China Investments and, to the extent Executive has
historically provided such services thereto, to Tiger Management Limited and its Subsidiaries; 

  

	 	(iv)	provide services to SSML or its Subsidiaries to the extent the Executive has historically provided such services to SSML or its Subsidiaries; 

 

	 	(v)	invest in a Declined Investment Opportunity and provide services to any Entity formed in connection with a Declined Investment Opportunity; 

 

	 	(vi)	provide Permitted Services; and 

  

	 	(vii)	provide services to Washington and its Affiliates in connection with a Rejected Investment. 

 

	8.	CORPORATE OPPORTUNITIES. 

 The Company
acknowledges that during the Employment Period the Executive and certain of his Affiliates will be providing services to and engaging in activities involving Greater China Investments and Tiger Management Limited and its Subsidiaries as described in
Section 2.3 and subject to Section 7.2. The Executive agrees that he will fulfill his fiduciary duties to the Company with respect to any potential investment and business opportunities. The Company agrees and acknowledges that,
(a) for any Container Investment Opportunity or Container Vessel Business Acquisition (as defined in the Right of First Refusal Agreement) under the Right of First Refusal Agreement and (b) subject to compliance by GC Intermodal with the
terms of the Right of First Refusal Agreement, if (i) the Company rejects all or any portion of such Container Investment Opportunity, (ii) the Company does not exercise its right to purchase any Vessel (as defined in the Right of First
Refusal Agreement) or Container Vessel Business included in such Container Investment Opportunity or Container Vessel Business Acquisition in accordance with the terms of the Right of First Refusal Agreement, (iii) the Company exercises such
right but fails to purchase such Vessel or Container Vessel Business in accordance with the terms of the applicable Vessel Purchase Contract (or, if applicable, Revised Negotiated Vessel Purchase Contract (as defined in the Right of First Refusal
Agreement) or (iv) the Company does not have the right to purchase or effect, or exercise its right of first refusal under the Right of First Refusal Agreement with respect to, any Vessel subject to such Container Investment Opportunity or such
Container Vessel Business Acquisition under the Right of First Refusal Agreement, the Company shall be deemed to have renounced any interest or expectancy in the purchase or acquisition of, such Container Investment Opportunity or Container Vessel
Business or applicable portion thereof. The Company further agrees and acknowledges that, in connection with any sale or disposition of any Container Vessel by GC Intermodal or any of its Subsidiaries, subject to compliance by GC Intermodal with the
applicable terms of the Right of First Refusal Agreement, the Company shall be deemed to have renounced any interest or expectancy in such sale or disposition of such Container Vessel. 

  
 20 

	9.	INDEMNIFICATION AND INSURANCE 

  

	9.1	Indemnity 

 The Company will indemnify,
defend and hold harmless the Executive to the fullest extent permitted by law from and against any and all losses, claims, demands, costs, damages, liabilities, joint or several, expenses of any nature (including reasonable legal fees and
disbursements), judgments, fines, settlements and other amounts arising from any and all claims, demands, actions, suits or proceedings, civil, criminal, administrative or investigative, in which the Executive may be involved, or threatened to be
involved as a party or otherwise, relating to the performance or non-performance of any act concerning the activities of the Company if the Executive acted in good faith and the Executive’s conduct did not constitute gross negligence, willful
misconduct or knowing violation of law in any material respect. Expenses (including reasonable legal fees and disbursements) incurred by the Executive in defending a proceeding will be secured, advanced or paid by the Company or necessary retainers
will be funded in advance as required (in such capacity, the “Indemnitor”) in advance of the final disposition and throughout the currency of such proceeding, as incurred, including any appeal therefrom, upon receipt of an
undertaking satisfactory to the Indemnitor by or on behalf of the Executive to repay such amount in the event of a final determination that the Executive is not entitled to be indemnified by the Indemnitor. Any indemnification provided hereunder
will be satisfied solely out of the assets of the Indemnitor as an expense of the Indemnitor. 
  

	9.2	Directors’ and Officers’ Liability Insurance 

 The Company shall purchase and maintain insurance that the Company reasonably determines to be adequate in respect of liabilities of the types described in Section 9.1, which insurance will cover the
Executive in his capacity as a director and officer of the Company. 
  

	10.	GENERAL PROVISIONS 

  

	10.1	Enforceability and Severability 

 It is
the desire and intent of the parties hereto that the provisions of this Agreement be enforced to the fullest extent permissible under the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any
particular provision of this Agreement is adjudicated to be invalid or unenforceable, such provision will be deemed amended to delete therefrom the portion thus adjudicated as invalid or unenforceable, such deletion to apply only with respect to the
operation of such provision in the particular jurisdiction in which such adjudication is made. 
  

	10.2	Remedies 

 In the event of a breach or
threatened breach by the Executive of the provisions of Section 6 or 7, the Company will be entitled to an injunction restraining the Executive from such breach. Nothing contained herein will be construed as prohibiting the Company from
pursuing any other remedies available at law or equity for such breach or threatened breach of this Agreement nor limiting the amount of damages recoverable in the event of a breach or threatened breach by the

  
 21 

 
Executive of the provisions of Section 6 or 7. Without limiting the generality of the foregoing, the Executive acknowledges that, in the event of a breach or threatened breach by him of any
of the provisions of Section 6 or 7, the damages of the Company may exceed the amount paid to the Executive pursuant to this Agreement. 
  

	10.3	Assignment and Benefit 

 The Executive
will not assign or transfer this Agreement or any rights or obligations hereunder without the prior written consent of the Company. This Agreement will inure to the benefit of and be enforceable by the Executive’s successors and legal
representatives and the Company and its successors and permitted assigns. The Company may not assign this Agreement or any of its rights or obligations under this Agreement without the written consent of the Executive (which shall not be
unreasonably withheld or delayed); provided, however, that in connection with a Change of Control, the Company may assign this Agreement to the successor Entity in the Change of Control transaction. Upon the reasonable request of the
Executive in order for him to obtain more favorable tax or regulatory treatment and subject to such assignment not increasing the cost of the Company's performance hereunder or otherwise, the Company shall assign its rights and obligations under
this Agreement to a controlled Affiliate of the Company designated by the Executive. 
  

	10.4	Entire Agreement 

 This Agreement contains
the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements or understandings, whether oral or written and whether express or implied, between the parties hereto, including, without
limitation, the Restrictive Covenant Agreement. The Executive acknowledges and agrees that any prior agreements or representations, whether oral or written and whether express or implied, between the Executive and the Company, are hereby terminated
and the Executive has no rights or entitlements under or arising from any such prior agreements or representations against the Company. 
  

	10.5	Notices 

 All notices, requests and other
communications to any party hereunder will be in writing and sufficient if delivered personally or by commercial delivery service or sent by fax (with confirmation of receipt) or by registered or certified mail, postage prepaid, return receipt
requested, addressed as follows: 
 If to the Company, at: 

Unit 2 – 7th Floor, Bupa Centre 
 141 Connaught Road West 
 Hong Kong 

Fax: (604) 638 2595 
 Attention: Corporate Secretary 
 With a copy to: 

  
 22 

 Perkins Coie LLP 
 1120 NW Couch Street, 10th Floor 
 Portland, OR 97209-4128 

Fax: (503) 727-2222 
 Attention: David Matheson 
 If to the Executive, at: 

Gerry Wang 

c/o Seaspan Ship Management Limited 
 200 Granville Street, Suite 2600 
 Vancouver, BC. V6C1S4 

Fax: (604) 638-2595 
 With a copy to: 
 Shearman & Sterling LLP 

599 Lexington Avenue 
 New York, NY 10022 
 Fax: (646) 848-8150 

Attention: John J. Cannon 
 or
to such other address as the party to whom notice is to be given may have furnished to the other party in writing in accordance herewith. Each such notice, request or communication will be deemed to have been given when received or, if given by
mail, when delivered at the address specified in this Section or on the fifth business day following the date on which such communication is posted, whichever occurs first. 

 

	10.6	Amendments and Waivers 

 No modification,
amendment or waiver of any provision of, or consent required by, this Agreement, nor any consent to any departure herefrom, will be effective unless it is in writing and signed by the parties hereto. Such modification, amendment, waiver or consent
will be effective only in the specific instance and for the purpose for which given. 
  

	10.7	Headings 

 Descriptive headings are for
convenience only and will not control or affect the meaning or construction of any provision of this Agreement. 
  

	10.8	Counterparts 

 This Agreement may be
executed in counterparts, and each such counterpart hereof will be deemed to be an original instrument, but all such counterparts together will constitute but one agreement. 

 

	10.9	United States Dollars 

 All dollar amounts
referred to herein will be in lawful currency of the United States. 

  
 23 

	10.10	Governing Law 

 This Agreement and its
application and interpretation will be governed exclusively by the laws of Hong Kong. 
  

	10.11	Attornment 

  

	 	(a)	The Executive and the Company each irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Tribunals and Courts of
Hong Kong, in any action or proceeding arising out of or relating to this Agreement or the agreements delivered in connection herewith or the transactions contemplated hereby or thereby or for recognition or enforcement of any judgment relating
thereto, and each of the parties hereby irrevocably and unconditionally (i) agrees that any claim in respect of any such action or proceeding shall be heard and determined in Hong Kong, (iii) waives, to the fullest extent it may legally
and effectively do so, any objection which it may now or hereafter have to venue of any such action or proceeding in Hong Kong, (iv) waives the defense of an inconvenient forum to the maintenance of such action or proceeding in Hong Kong and
(v) agrees that it will not bring any action relating to this Agreement of the transactions contemplated hereby in any court other than the aforesaid courts. The Executive and the Company each agrees that a final judgment in any such action or
proceeding, as to which available appeals have been exhausted or no appeals have been filed within the time set by law, will be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. The
Executive and the Company each irrevocably consents to service of process in the manner provided for giving notices in Section 10.5. Nothing in this Agreement will affect the right of the Executive or the Company to serve process in any other
manner permitted by law. 

  

	 	(b)	TO THE FULLEST EXTENT PERMITTED BY LAW, EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE PROVISION OF SERVICES CONTEMPLATED HEREBY. 

  

	10.12	Independent Legal Advice 

 The Executive
hereby acknowledges that the Executive has had the opportunity to obtain independent legal advice regarding this Agreement. 
  

	10.13	Survival 

 Wherever appropriate to the
intentions of the parties to this Agreement, the respective rights and obligations of the parties, including but not limited to Sections 5, 6, 7, 8, 9 and 10 and the Executive’s obligations under Section 4.3(a), will survive the
Termination Date and will continue in full force and effect. 

  
 24 

	10.14	Collection and Use of Personal Information 

The Executive acknowledges that the Company will collect, use and disclose health and other personal information for employment and business related
purposes. The Executive consents to the Company collecting, using and disclosing health and other personal information of the Executive for employment and business related purposes in accordance with the privacy policy of the Company. 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 25 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date first set forth
above. 
  

							
	SEASPAN CORPORATION
				
	Per:	 	 /s/ Sai W. Chu
	 		 	 /s/ Gerry Wang

		 	Authorized Signatory	 		 	GERRY WANG

  
 26 

 Exhibit A 

Form of Transaction Services Agreement 

  
 27

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