Document:

Exhibit
4.19

 

SUPPLEMENTAL
LETTER

 

To:                              Danaos
Corporation

Trust Company Complex 

Ajeltake Road

Ajeltake Island

Majuro

Marshall Islands MH 96960

 

6 August 2009

 

Loan Agreement dated 30 May 2008 (as amended and
supplemented, the “Loan Agreement”) made between (i) Danaos Corporation
(the “Borrower”), (ii) the banks and financial institutions listed in
Schedule 1 thereto as lenders (the “Lenders”) (iii) Deutsche Bank A.G. as
swap bank, and (iv) Deutsche Bank AG Filiale Deutschlandgeschäft as agent
and security trustee (the “Agent”) in respect of a facility of (originally)
US$180,000,000.

 

We refer to the Loan Agreement. Words and expressions defined in the
Loan Agreement shall have the same meaning when used in this Letter.

 

We further refer to our recent discussions regarding your request that
we consent to (inter alia) waive:

 

(a)                                  the application
of the security cover provisions in Clause 15.1 of the Loan Agreement during
the period commencing 30 June 2009 (inclusive) and ending on 1
October 2010 (inclusive) (the “Waiver Period”);  and

 

(b)                                 the Borrower’s
financial covenant set out in Clause 12.5(a) of the Loan Agreement during
the Waiver Period.

 

We hereby confirm our approval to your request subject to the following
conditions:

 

1                                         Amendments to Loan Agreement and Finance Documents. The
arrangements in this Letter necessitate certain amendments to the Loan
Agreement and we confirm that the Loan Agreement shall be amended (with effect
from 30 June 2009) as follows:

 

(a)                                  by construing
all references in the Loan Agreement to “this Agreement” and all references in
the Finance Documents (other than the Loan Agreement) to the “Loan Agreement”
as references to the Loan Agreement as amended and supplemented by this Letter;

 

(b)                                 by construing
all references in the Loan Agreement and in the Finance Documents to a
“Mortgage” as references to that Mortgage as amended and supplemented by the
relevant Amendment Mortgage applicable thereto;

 

(c)                                  by adding the
following definitions in Clause 1.1 thereof:

 

““Amendment Mortgage” means, in
respect of each Mortgage, an addendum thereto executed or to be executed by the
relevant Owner in favour of the Security Trustee in such form as the Lenders
may approve or require;

 

“Waiver Period” means the
period commencing on 30 June 2009 (inclusive) and ending on 1
October 2010 (inclusive);”;

 

(d)                                 by deleting the
definition of “Margin” in Clause 1.1 thereof and replacing it with the following:

 

 

““Margin” means:

 

(a)           during the Waiver Period, 2.00 per cent. per annum; and

 

(b)           at all other times, 1.50 per cent. per annum.”;

 

(e)           by
adding a new Clause 11.21 as follows:

 

“11.21                Increase of share capital. The Borrower undertakes that
it will use its best efforts (taking account of the prevailing conditions in
the equity markets including those relevant to shipping companies) to raise
capital of approximately $200,000,000 by no later than 31 December 2009.”;

 

(f)            by
deleting Clause 12.3(b) thereof in its entirety and replacing it with the
following:

 

“(b)         pay
any dividend or make any other form of distribution at any time:

 

(i)            during the
Waiver Period; and

 

(ii)           thereafter when
an Event of Default has occurred and is continuing or will result from the
payment of any dividend or the making of any other form of distribution;”

 

(g)                                 by adding the
words “(other than during the Waiver Period in the case of Clause
12.5(a) below)” after the words “at all times” in the first line of Clause
12.5 thereof; and

 

(h)                                 by adding the
words “at any time other than during the Waiver Period” after words “the
Borrower” in the second line of Clause 15.1 thereof.

 

2                                         Conditions. Our consent to your request is subject to the
following conditions:

 

(a)                                  documents of
the kind specified in paragraphs 2, 3 and 5 of Schedule 3, Part A to the
Loan Agreement in relation to the Borrower and each Owner in connection with
their execution of this Letter and each Amendment Mortgage updated with
appropriate modifications to refer to this Letter;

 

(b)                                 an original of
this Letter duly executed by the parties to it and counter-signed by each of
the Owners;

 

(c)                                  receipt of an
original of each Amendment Mortgage duly signed by the relevant Owner and
evidence satisfactory to the Agent and its lawyers that the same has been
registered as a valid amendment to the applicable Mortgage in accordance with
the laws of Malta;

 

(d)                                 evidence
satisfactory to the Lender that the Borrower has obtained in respect of all
other Financial Indebtedness incurred by the Borrower, waivers similar to those
contained in this Letter from the relevant banks and financial institutions;
and

 

(e)                                  favourable
opinions from lawyers appointed by the Agent on such matter concerning the laws
of Marshall Islands, Liberia and Malta and such other relevant jurisdiction as
the Agent may require.

 

3                                         Representations and Warranties. The Borrower represents and
warrants to the Agent that:

 

(a)                                  the
representations and warranties in Clause 10 of the Loan Agreement, as amended
and supplemented by this Letter, remain true and not misleading if repeated on
the date of this Letter with reference to the circumstances now existing; and

 

2

 

(b)                                 the
representations and warranties in the Finance Documents (other than the Loan
Agreement) to which it is a party, as amended and supplemented by this Letter remain
true and not misleading if repeated on the date of this Letter with reference
to the circumstances now existing.

 

4                                         Fees and Expenses. The Borrower will pay to the Agent on the
date of this Letter, a non-refundable amendment fee of $400,000.

 

5                                         Notices. The provisions
of Clause 28 (Notices) of the Loan Agreement shall apply as if they were
expressly incorporated herein.

 

6                                         Governing
law. This Letter shall be governed by and construed in accordance with
English law and the provisions of Clause 30 (Law and Jurisdiction) of the Loan
Agreement shall apply to this Letter as if they were expressly incorporated
herein

 

Unless amended by the terms of this Letter, the provisions of the Loan
Agreement and the other Finance Documents shall remain in full force and
effect.

 

Please confirm your acceptance to the foregoing terms and conditions by
signing the acceptance and acknowledgement below.

 

Yours faithfully

 

 

	
  /s/ Vassiliki Georgopoulos

  	
   

  
	
  VASSILIKI GEORGOPOULOS

  	
   

  
	
  for and on behalf of 

  	
   

  
	
  DEUTSCHE BANK AG FILIALE

  	
   

  
	
  DEUTSCHLANDGESCHÄFT

  	
   

  
	
  (in its capacity as Agent for and on behalf of 

  	
   

  
	
  all the Lenders and the other Creditor Parties)

  	
   

  

 

 

We hereby acknowledge
receipt of the above Letter and confirm our agreement to the terms of the same.

 

 

	
  /s/ Iraklis Prokopakis

  	
   

  
	
  IRAKLIS PROKOPAKIS

  	
   

  
	
  for and on behalf of

  	
   

  
	
  DANAOS CORPORATION

  	
   

  

 

Date: 6 August 2009

 

3

 

We hereby confirm and acknowledge that we have read and understood the
terms and conditions of the above Letter and agree in all respects to the same
and confirm that the Finance Documents to which we are a party shall remain in
full force and effect and shall continue to stand as security for the
obligations of the Borrower under the Loan Agreement.

 

 

	
  /s/ Efstathios Sfyris

  	
   

  	
  /s/ Zoe Lappa

  
	
  EFSTATHIOS SFYRIS

  	
   

  	
  ZOE LAPPA

  
	
  for and on behalf of

  	
   

  	
  for and on behalf of

  
	
  DANAOS SHIPPING CO. LTD.

  	
   

  	
  BAYVIEW SHIPPING INC.

  

 

 

	
  /s/ Zoe Lappa

  	
   

  	
  /s/ Zoe Lappa

  
	
  ZOE LAPPA

  	
   

  	
  ZOE LAPPA

  
	
  for and on behalf of

  	
   

  	
  for and on behalf of

  
	
  CHANNELVIEW MARINE INC.

  	
   

  	
  BALTICSEA MARINE INC.

  

 

 

Date: 6 August 2009

 

4

 

SUPPLEMENTAL LETTER

 

To:                              Danaos Corporation

Trust Company Complex 

Ajeltake Road

Ajeltake Island

Majuro

Marshall Islands MH 96960

 

15 December 2009

 

Loan Agreement dated 30
May 2008 (as amended and supplemented, the “Loan Agreement”) made between
(i) Danaos Corporation (the “Borrower”), (ii) the banks and financial
institutions listed in Schedule 1 thereto as lenders (the “Lenders”) (iii) Deutsche
Bank AG as swap bank, and (iv) Deutsche Bank AG Filiale Deutschlandgeschäft as agent
and security trustee (the “Agent”) in respect of a facility of (originally)
US$180,000,000.

 

We refer to the Loan Agreement. Words and
expressions defined in the Loan Agreement shall have the same meaning when used
in this Letter.

 

We further refer to the supplemental letter
agreement dated 6 August 2009 (the “Supplemental Letter”)  which amended and supplemented the
Loan Agreement.

 

Pursuant to discussions between us we have agreed
to vary the application of the security cover provisions in clause 15.1 of the
Loan Agreement so that the application of such provisions is no longer waived
during the period commencing on 1 October 2009 and ending on the last day
of the Waiver Period (“Reduced Percentage Period”) as
referred to in the Supplemental Letter but instead the security cover
requirement will be reduced from 125 per cent. to 85 per cent. during the
Reduced Percentage Period.

 

1                                         Amendments to Loan Agreement and Finance Documents. The arrangements in this Letter necessitate certain amendments to the Loan
Agreement and we confirm that the Loan Agreement shall be amended (with effect
from 1 October 2009) as follows:

 

(a)                                  by construing all references in the Loan Agreement to “this Agreement” and
all references in the Finance Documents (other than the Loan Agreement) to the
“Loan Agreement” as references to the Loan Agreement as amended and
supplemented by this Letter;

 

(b)                                 by deleting the words “at any time other than during the Waiver Period”
after words “the Borrower” in its entirety in the second line of Clause 15.1
thereof and replacing it with the following:

 

“at any time other than during the period commencing
on 30 June 2009 and ending on 30 September 2009,”;

 

(c)                                  by deleting the reference to “125 per cent.” in Clause 15.1 thereof and
replacing it with “the Relevant Percentage”; and

 

(d)                                 by adding at the end of Clause 15.1 thereof the following new paragraph:

 

“In this Clause 15.1, “Relevant
Percentage”  means
during the period commencing on 1 October 2009 and ending on the last day
of the Waiver Period, 85 per cent. and at all other times 125 per cent.”.

 

2                                         Conditions. The
amendments to the Loan Agreement set out in paragraph 1 are subject  to the following conditions:

 

 

(a)                                  documents of the kind specified in paragraphs 2, 3 and 5 of Schedule 3,
Part A to the Loan Agreement in relation to the Borrower and each Owner in
connection with their execution of this Letter updated with appropriate
modifications to refer to this Letter;

 

(b)                                 an original of this Letter duly executed by the parties to it and
counter-signed by each of the Owners; and

 

(c)                                  favourable opinions from lawyers appointed by the Agent on such matter
concerning the laws of Marshall Islands, Liberia and Malta and such other
relevant jurisdiction as the Agent may require.

 

3              Representations and Warranties. The Borrower represents and warrants to the Agent  that:

 

(a)                                  the representations and warranties in Clause 10 of the Loan Agreement, as
amended and supplemented by this Letter, remain true and not misleading if
repeated on the date of this Letter with reference to the circumstances now
existing; and

 

(b)                                 the representations and warranties in the Finance Documents (other than the
Loan Agreement) to which it is a party, as amended and supplemented by this
Letter remain true and not misleading if repeated on the date of this Letter
with reference to the circumstances now existing.

 

4                                         Notices. The
provisions of Clause 28 (Notices) of the Loan Agreement shall apply as if  they were expressly incorporated herein.

 

5                                         Governing law. This
Letter shall be governed by and construed in accordance with English law and
the provisions of Clause 30 (Law and Jurisdiction) of the Loan Agreement shall
apply to this Letter as if they were expressly incorporated herein

 

Unless amended by the terms of this Letter, the
provisions of the Loan Agreement and the other Finance Documents shall remain
in full force and effect.

 

Please confirm your acceptance to the foregoing
terms and conditions by signing
the acceptance and acknowledgement below.

 

Yours faithfully

 

 

	
  /s/ Maria-Chryssoula Karpida

  	
   

  
	
  MARIA-CHRYSSOULA KARPIDA

  	
   

  
	
  for and on behalf of

  	
   

  
	
  DEUTSCHE BANK AG FILIALE

  	
   

  
	
  DEUTSCHLANDGESCHÄFT

  	
   

  
	
  (in  its
  capacity as Agent for and on behalf of

  	
   

  
	
  all the Lenders and the other Creditor
  Parties)

  	
   

  

 

2

 

We
hereby acknowledge receipt of the above Letter and confirm our agreement to the
terms of the same.

 

 

	
  /s/ John Coustas

  	
   

  
	
  JOHN COUSTAS

  	
   

  
	
  for and on behalf of

  	
   

  
	
  DANAOS CORPORATION

  	
   

  

 

Date: 15 December 2009

 

 

We hereby confirm and acknowledge that we have
read and understood the terms and conditions of the above Letter and agree in
all respects to the same and confirm that the Finance Documents to which we are
a party shall remain in full force and effect and shall continue to stand as
security for the obligations of the Borrower under the Loan Agreement.

 

 

	
  /s/ Efstathios Sfyris

  	
   

  	
  /s/ Zoe Lappa

  
	
  EFSTATHIOS SFYRIS

  	
   

  	
  ZOE LAPPA

  
	
  for and on behalf of

  	
   

  	
  for and on behalf of

  
	
  DANAOS SHIPPING CO. LTD.

  	
   

  	
  BAYVIEW SHIPPING INC.

  

 

 

	
  /s/ Zoe Lappa

  	
   

  	
  /s/ Zoe Lappa

  
	
  ZOE LAPPA

  	
   

  	
  ZOE LAPPA

  
	
  for and on behalf of

  	
   

  	
  for and on behalf of

  
	
  CHANNELVIEW MARINE INC.

  	
   

  	
  BALTICSEA MARINE INC.

  

 

 

Date: 15 December 2009

 

3Exhibit 4.20

 

Private & Confidential

 

	
   

  	
   

  	
  Dated 13 August 2009

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  DANAOS CORPORATION

  	
   

  	
  (1)

  
	
   

  	
   

  	
  as Borrower

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  FORTIS BANK (NEDERLAND) N.V.

  	
   

  	
  (2)

  
	
   

  	
   

  	
  as Lead Arranger

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  LLOYDS
  TSB BANK PLC and

  NATIONAL BANK OF GREECE S.A.

  	
   

  	
  (3)

  
	
   

  	
   

  	
  as Co-Arrangers

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  FORTIS BANK (NEDERLAND) N.V., LLOYDS TSB

  BANK PLC and NATIONAL BANK OF GREECE S.A.

  	
   

  	
  (4)

  
	
   

  	
   

  	
  as Lenders

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  FORTIS BANK (NEDERLAND) N.V.

  	
   

  	
  (5)

  
	
   

  	
   

  	
  as Agent

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  FORTIS BANK (NEDERLAND) N.V.

  	
   

  	
  (6)

  
	
   

  	
   

  	
  as Security Trustee

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  FORTIS BANK (NEDERLAND) N.V., LLOYDS TSB

  BANK PLC and NATIONAL BANK OF GREECE S.A.

  	
   

  	
  (7)

  
	
   

  	
   

  	
  as Swap Banks

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SEACARRIERS
  SERVICES INC., SEACARRIERS

  LINES INC., AUCKLAND MARINE INC and

  WELLINGTON MARINE INC. 

  	
   

  	
  (8)

  
	
   

  	
   

  	
  as Guarantors

  	
   

  	
   

  

 

 

SUPPLEMENT
AGREEMENT

relating to a LOAN AGREEMENT

dated 29 July 2008 for a $253,200,000

Loan relating to the m.v.s. “YM Seattle”,

“YM Vancouver”, “YM Colombo” and

“YM Singapore”

 

 

 

 

Contents

 

	
  Clause

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1

  	
   

  	
  Definitions

  	
   

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2

  	
   

  	
  Effective Date

  	
   

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3

  	
   

  	
  Fee

  	
   

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4

  	
   

  	
  Waiver

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5

  	
   

  	
  Amendments to the Loan Agreement

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6

  	
   

  	
  References to the Loan Agreement

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7

  	
   

  	
  Acknowledgment

  	
   

  	
  4

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  8

  	
   

  	
  Covenants

  	
   

  	
  4

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9

  	
   

  	
  Representations

  	
   

  	
  4

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  10

  	
   

  	
  Costs

  	
   

  	
  5

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  11

  	
   

  	
  Miscellaneous

  	
   

  	
  6

  

 

 

THIS
SUPPLEMENTAL AGREEMENT is dated 13 August 2009 and made BETWEEN:

 

(1)                                  DANAOS CORPORATION as Borrower;

 

(2)                                  FORTIS BANK (NEDERLAND) N.V. as Lead Arranger;

 

(3)                                  LLOYDS TSB BANK PLC and NATIONAL BANK OF GREECE S.A. as
Co-Arrangers;

 

(4)                                  FORTIS BANK (NEDERLAND) N.V., LLOYDS TSB BANK PLC and NATIONAL BANK OF GREECE  S.A. as
Lenders;

 

(5)                                  FORTIS BANK  (NEDERLAND) N.V. as Agent;

 

(6)                                  FORTIS BANK (NEDERLAND) N.V. as Security Trustee;

 

(7)                                  FORTIS BANK (NEDERLAND) N.V., LLOYDS TSB BANK PLC and NATIONAL BANK OF GREECE S.A. as Swap Banks;
and

 

(8)                                  SEACARRIERS SERVICES INC., as Guarantor;

 

(9)                                  SEACARRIERS LINES INC., as Guarantor;

 

(10)                            AUCKLAND MARINE INC., as Guarantor; and

 

(11)                            WELLINGTON MARINE INC., as Guarantor (parties (8) to
(11) together, the Guarantors).

 

WHEREAS:

 

(A)                              Pursuant to a
loan agreement dated 29 July 2008 between the parties hereto other than the
Guarantors, the Lenders made available to the Borrower a loan up to an
aggregate amount of $253,200,000 for the purpose of refinancing the m.v. “YM
Seattle”, m.v. “YM Vancouver”, m.v. “YM Colombo” and m.v. “YM Singapore” (the Loan Agreement).

 

(B)                                Pursuant to a
letter from the Borrower to the Agent dated 17 June 2009, the Borrower informed
the Agent that it expected as at 30 June 2009 to be unable to satisfy certain
financial covenant terms of the Loan Agreement and requested a waiver of
relevant provisions of the Loan Agreement.

 

(C)                                Pursuant to a
letter from the Agent to the Borrower dated 2 July 2009, the Agent informed the
Borrower that it was, in conjunction with the Lenders, considering the letter
and waiver request referred to in Recital (B).

 

(D)                               The Borrower
and the Lenders have agreed to waive and amend certain provisions of the Loan
Agreement as set out in this Supplemental Agreement.

 

IT IS AGREED as follows:

 

1

 

1                                         Definitions

 

1.1                               Definitions

 

In this Supplemental Agreement, words and
expressions shall have the means given to them in the Loan Agreement and in
addition:

 

Effective Date means the date
specified in the Effective Date Notice served pursuant to clause 2;

 

Effective Date Notice shall mean the
notice in the form of Schedule 2 issued by the Agent pursuant to clause 2;

 

Orderbook shall mean the
description of the orders placed by the Borrower to purchase new vessels
contained in Schedule 3; and

 

Waiver Period shall mean the
period from and including 30 June 2009 to and including 1 October 2010.

 

1.2                               Interpretation

 

The provisions of clauses 1.3 (Headings)  and 1.7 (Third Parties)  of the Loan Agreement shall apply
to this Supplemental Agreement as if set out herein in full, mutatis mutandis.

 

2                                         Effective Date

 

2.1                                 The Effective
Date shall occur when the Agent has received the documents and evidence described
in Schedule 1. After the Effective Date has occurred, the Agent shall execute
the Effective Date Notice which shall confirm the Effective Date and shall
deliver one original of the Effective Date Notice to each other party to this
Supplemental Agreement.

 

2.2                                 Notwithstanding
any provisions of this Supplemental Agreement to the contrary, in the event of any
misrepresentation in relation to the representation and warranty in clause
9.1.2 (Representations; Waivers)
the Effective Date shall be deemed not to have occurred and
the waiver contained in clause 4 (Waiver)
of this Supplemental Agreement shall cease to have, and be
deemed never to have had any effect whatsoever.

 

3                                         Fee

 

On the date hereof, the Borrower shall pay
$1,012,800 (such amount being equal to zero point four per cent (0.4%) of
$253,200,000 being the amount of the loan originally made available to the
Borrower pursuant to the Loan Agreement) to the following account of the Agent
for onward payment to the Lenders pro-rata to their respective Commitments:

 

	
  Account No.:     

  	
  25.59.56.916

  
	
  IBAN:

  	
  NL30 FTSB 0255 9569 16

  
	
  BIC:

  	
  FTSBNL2R

  
	
  Bank:

  	
  Fortis Bank (Nederland) N.V.

  

 

2

 

4                                         Waiver

 

4.1                                 Provided that
the Effective Date has occurred, the Agent and the Lenders agree that they
shall waive their respective rights under the following clauses of the Loan
Agreement for the duration of the Waiver Period:

 

4.1.1                        clause 8.2.1 (Security
Value Maintenance);

 

4.1.2                        clause 8.3.1(a) (Financial
Undertakings);  and

 

4.1.3                        clause 10.1.2 (Breach
of Insurance and certain other obligations) to the extent
that the relevant breach occurs under clause 8.2.1 (Security Value Maintenance)  or clause 8.3.1(a) (Financial
Undertakings).

 

4.2                                 Provided that
the Effective Date has occurred, the Agent and the Lenders also agree that they
shall waive their respective rights under clause 10.1.3 (Breach of other obligation (1)) in relation to the breach of clause 8.1.15 (No
amendment to the Transaction Documents)  of the Loan Agreement in consequence of the
Borrower’s agreeing to the amendments to the Loan Agreement described in this
Supplemental Agreement.

 

5                                         Amendments to the Loan Agreement

 

Clause 1.2 of the Loan
Agreement shall be amended on the Effective Date as follows:

 

5.1                                 the definition
of Margin shall be deleted and replaced with the following:

 

Margin means, for each
Interest Period commencing prior to the date of the Supplemental Agreement, zero
point seven five per cent (0.75%) per annum and for each Interest Period
commencing thereafter, two per cent (2.00%) per annum.

 

5.2                                 the following
definition shall be inserted:

 

Supplemental Agreement means the
supplemental agreement to this Agreement dated [to insert date of this Supplemental
Agreement]  2009
made between the parties to this Agreement and the Owners.

 

5.3                                 in the
definition of Security Documents, the words “and Deed of Covenants” shall be
replaced with the words and punctuation “, the Deed of Covenants and the
Supplemental Agreement”.

 

6                                         References to the Loan Agreement

 

As from the Effective Date, all references in the
Security Documents to the Loan Agreement shall be construed as references to
the Loan Agreement as amended by the terms of this Supplemental Agreement.

 

3

 

7                                         Acknowledgment

 

Each Guarantor acknowledges the amendments to be
made to the Loan Agreement pursuant to the terms of this Supplemental Agreement
and agrees that, with effect from the Effective Date, references in the
Guarantee to which it is a party to the term “Loan Agreement” shall be construed
as references to the Loan Agreement as amended pursuant to this Supplemental
Agreement.

 

8                                         Covenants

 

8.1                                 With effect
from the Effective Date, the Borrower undertakes that during the Waiver Period:

 

8.1.1                        it shall not
declare or issue a cash dividend in relation to its respective ordinary shares
or common stock; and

 

8.1.2                        it shall apply
all moneys received pursuant to the issue of shares or other instruments in its
capital whether by one or more transactions towards the financing of the
purchase of the vessels described in the Orderbook.

 

8.2                                 The Borrower
undertakes to use best efforts (taking account of the prevailing conditions in
the equity markets including those relevant to shipping companies) to raise
additional capital until the end of 31 March 2010.

 

9                                         Representations

 

9.1                                 The Borrower
represents and warrants on the Effective Date to the other parties to this Supplemental
Agreement (save for the Guarantors) as follows:

 

9.1.1                        The Orderbook: the Orderbook contains a true, complete and
up-to-date list of the vessels which the Borrower has ordered and which are
expected to be delivered in respect of the period from July 2009 to June 2012.

 

9.1.2                        Waivers: each member of the Borrower’s Group has obtained
from each of its financiers a written waiver of any and all breaches of the
terms of agreements to which the relevant financier and the relevant member(s) of
the Borrower’s Group are party, such waiver being in respect of a period
starting no later than the first day of the Waiver Period and ending no earlier
than the last day of the Waiver Period.

 

9.2                                 The Borrower
and each Guarantor represent and warrant on the date hereof and on the Effective
Date to the other parties to this Supplemental Agreement as follows:

 

9.2.1                        Status: it is a corporation domesticated in and validly
existing and in good standing under the laws of the Republic of the Marshall
Islands (in the case of the Borrower) or Liberia (in the case of the
Guarantors).

 

4

 

9.2.2                        Corporate power:  it has the corporate
capacity, and has taken all corporate action and obtained all consents
necessary for it to execute, enter into, and perform its obligations under this
Supplemental Agreement.

 

9.2.3                        Consents in force:  all the consents referred to
in clause 8.1.8 of the Loan Agreement remain in force and nothing has occurred
which makes any of them liable to revocation.

 

9.2.4                        Legal validity; effective security interests:  this
Supplemental Agreement constitutes its legal, valid and binding obligations enforceable
against it in accordance with their respective terms.

 

9.2.5                        No conflicts:  its execution of this
Supplemental Agreement and its compliance herewith will not involve or lead to
a contravention of:

 

(a)              any law or regulation; or

 

(b)             its constitutional
documents; or

 

(c)              any contractual or other
obligation or restriction which is binding on it or any of its assets.

 

9.2.6                        Information:  all information which has
been provided in writing by or on behalf of the Borrower and the Guarantors to
the other parties hereto in connection herewith satisfied the requirements of
clause 8.1.3 of the Loan Agreement.

 

9.2.7                        No  litigation:  no legal or administrative
action involving it has been commenced or taken or, to its knowledge, is likely
to be commenced or taken which, in either case, would be likely to have a
material adverse effect on its ability to satisfy and discharge in a timely
manner any of its liabilities or obligations under this Supplemental Agreement.

 

9.2.8                        Taxes paid:  it has paid all taxes
applicable to, or imposed on or in relation to it and its business.

 

9.2.9                        No money laundering:  it is acting in relation to
this Supplemental Agreement for its own account and that entry into the
Supplemental Agreement will not involve or lead to contravention of any law, official
requirement or other regulatory measure or procedure implemented to combat “money
laundering” (as defined in Article 1 of the Directive (91/308/EEC) of the
Council of the European Communities).

 

10                                  Costs

 

Any and all reasonably out-of-pocket costs, charges
and expenses incurred by the parties to this Supplemental Agreement and the
arrangements contemplated hereby shall be for the account of and shall be
reimbursed by the Borrower. The Borrower shall pay or reimburse any such costs,
charges and expenses submitted to it for payment or reimbursement within 30
days after receipt of demand therefor.

 

5

 

11                                  Miscellaneous

 

The provisions of clause 16 (Notices and other matters)  and 17 (Governing law and jurisdiction)  shall apply to this Supplemental
Agreement as if set out herein in full, mutatis mutandis.

 

6

 

Schedule 1

 

Conditions
Precedent

 

1                                         Constitutional documents

 

In respect of the Borrower and each Guarantor:

 

(i)                                     either (a) copies,
certified by its duly authorised signatory as true, complete and up to date
copies of all documents which contain or establish or relate to its
constitution or (b) confirmation from its duly authorised signatory that
the copies of such documents attached to the certificates signed by Evangelos
Chatzis dated 29 July 2008 (in the case of the Borrower), by Efstathios Sfyris
dated 28 July 2009 (in respect of Seacarriers Services Inc, Seacarriers Lines
Inc and Wellington Marine Inc) and by Konstantinos Sfyris dated 28 July 2009
(in respect of Auckland Marine Inc) (together, the Certificates) remain
up-to-date and in full force and effect; and

 

(ii)                                  evidence it is
in good standing under the laws of its incorporation.

 

2                                         Corporate authorisations

 

In respect of the Borrower and each Guarantor, confirmation
from an authorised signatory that the copies of its resolutions attached to the
Certificates remain up-to-date and in full force and effect and have not been
revoked or, if required by Marshall Islands or Liberian counsel for the Agent
and the Lenders for the purposes of producing the legal opinions referred to in
paragraph 5 below, copies of resolutions of the directors of it approving this
Supplemental Agreement, and each authorising the signature, delivery and
performance of its obligations thereunder, certified by a duly authorised
signatory of it as:

 

(i)                                     being true and
correct;

 

(ii)                                  being duly
passed at meeting of its directors duly convened and held;

 

(iii)                               not having been
amended, modified or revoked; and

 

(iv)                              being in full
force and effect,

 

together with originals or
certified copies of any powers of attorney issued by it pursuant to such
resolutions.

 

3                                         Incumbency certificate

 

An original certificate signed by a duly authorised
signatory of the Borrower and each Guarantor no earlier than five (5) Banking
Days prior to the date of this Supplemental Agreement certifying the names of
the officers and directors of it and attaching copies of the signatures of the
persons who have been authorised on behalf of it to sign this Supplemental
Agreement.

 

7

 

4                                         Documents

 

A signed original of this Supplemental Agreement.

 

5                                         Legal opinions

 

(i)                                     a legal opinion
of Watson, Farley & Williams LLP, New York with respect to matters of
Marshall Islands law; and

 

(ii)                                  a legal opinion
of Watson, Farley & Williams LLP with respect to matters of Liberian
law;

 

6                                         Fees

 

Evidence that the fees and expenses due under this
Supplemental Agreement have been paid in full.

 

7                                         Waivers regarding breaches  of other financings

 

A letter signed by a duly authorised signatory of
the Borrower confirming that each member of the Borrower’s Group has obtained
from each of its financiers a written waiver of any and all breaches of the
terms of agreements to which the relevant financier and the relevant member(s) of
the Borrower’s Group are party, such waiver being in respect of a period
starting no later than the first day of the Waiver Period and ending no earlier
than the last day of the Waiver Period.

 

8

 

Schedule 2

 

Form of
Effective Date Notice

 

Date: [·] 2009

 

Pursuant to and for the purposes of clause 2 of a supplemental
agreement dated [·] between
Danaos Corporation as borrower, Fortis Bank (Nederland) N.V. as lead arranger, lender,
agent, security trustee and swap bank, National Bank of Greece S.A. as
co-arranger, lender and swap bank and Lloyds TSB Bank plc as co-arranger, lender
and swap bank and Seacarriers Services Inc., Seacarriers Lines Inc., Auckland
Marine, Inc. and Wellington Marine, Inc. as guarantors, we hereby
confirm that the Effective Date occurred at or about
                               a.m./p/m/
on
                                   
2009.

 

Yours faithfully

 

 

	
   

  	
   

  	
   

  
	
  For and on behalf of:

  	
   

  	
   

  
	
  FORTIS BANK (NEDERLAND) N.V.

  	
   

  	
   

  
	
  as Agent

  	
   

  	
   

  
	
  Dated:                             2009

  	
   

  	
   

  

 

9

 

Schedule 3

 

Orderbook

 

[to
insert]

 

10

 

	
  Hull Number

  	
   

  	
  TEU

  	
   

  	
  Yard

  	
   

  	
  Delivery Date

  
	
  HN S4001

  	
   

  	
  6,500

  	
   

  	
  Sungdong Shipbuilding & Marine Engineering Co. Ltd.

  	
   

  	
  Sep. 2009

  
	
  HN S4002

  	
   

  	
  6,500

  	
   

  	
  Sungdong Shipbuilding & Marine Engineering Co. Ltd.

  	
   

  	
  Dec. 2009

  
	
  HN N-219

  	
   

  	
  3,400

  	
   

  	
  Hanjin Heavy Industries & Construction Co. Ltd.

  	
   

  	
  Dec. 2009

  
	
  HN S4003

  	
   

  	
  6,500

  	
   

  	
  Sungdong Shipbuilding & Marine Engineering Co. Ltd.

  	
   

  	
  Dec. 2009

  
	
  HN S4004

  	
   

  	
  6,500

  	
   

  	
  Sungdong Shipbuilding & Marine Engineering Co. Ltd.

  	
   

  	
  Jan. 2010

  
	
  HN N-214

  	
   

  	
  6,500

  	
   

  	
  Hanjin Heavy Industries & Construction Co. Ltd.

  	
   

  	
  Jan. 2010

  
	
  HN S4005

  	
   

  	
  6,500

  	
   

  	
  Sungdong Shipbuilding & Marine Engineering Co. Ltd.

  	
   

  	
  Feb. 2010

  
	
  HN N-215

  	
   

  	
  6,500

  	
   

  	
  Hanjin Heavy Industries & Construction Co. Ltd.

  	
   

  	
  Mar. 2010

  
	
  HN N-220

  	
   

  	
  3,400

  	
   

  	
  Hanjin Heavy Industries & Construction Co. Ltd.

  	
   

  	
  Apr. 2010

  
	
  HN N-216

  	
   

  	
  6,500

  	
   

  	
  Hanjin Heavy Industries & Construction Co. Ltd.

  	
   

  	
  May. 2010

  
	
  HN N-221

  	
   

  	
  3,400

  	
   

  	
  Hanjin Heavy Industries & Construction Co. Ltd.

  	
   

  	
  Jul. 2010

  
	
  HN N-217

  	
   

  	
  6,500

  	
   

  	
  Hanjin Heavy Industries & Construction Co. Ltd.

  	
   

  	
  Jul. 2010

  
	
  HN N-222

  	
   

  	
  3,400

  	
   

  	
  Hanjin Heavy Industries & Construction Co. Ltd.

  	
   

  	
  Oct. 2010

  
	
  HN N-218

  	
   

  	
  6,500

  	
   

  	
  Hanjin Heavy Industries & Construction Co. Ltd.

  	
   

  	
  Oct. 2010

  
	
  HN N-223

  	
   

  	
  3,400

  	
   

  	
  Hanjin Heavy Industries & Construction Co. Ltd.

  	
   

  	
  Dec. 2010

  
	
  HN S461

  	
   

  	
  10,100

  	
   

  	
  Hyundai Samho Heavy Industries Co. Ltd.

  	
   

  	
  Dec. 2010

  
	
  HN S462

  	
   

  	
  10,100

  	
   

  	
  Hyundai Samho Heavy Industries Co. Ltd.

  	
   

  	
  Jan. 2011

  
	
  HN S463

  	
   

  	
  10,100

  	
   

  	
  Hyundai Samho Heavy Industries Co. Ltd.

  	
   

  	
  Mar. 2011

  
	
  HN Z 00001

  	
   

  	
  8,530

  	
   

  	
  Jiangnan Changxing Shanghai Heavy Industry Co. Ltd.

  	
   

  	
  Mar. 2011

  
	
  HN Z 00002

  	
   

  	
  8,530

  	
   

  	
  Jiangnan Changxing Shanghai Heavy Industry Co. Ltd.

  	
   

  	
  May. 2011

  
	
  HN Z 00004

  	
   

  	
  8,530

  	
   

  	
  Jiangnan Changxing Shanghai Heavy Industry Co. Ltd.

  	
   

  	
  Jun. 2011

  
	
  HN Z 00003

  	
   

  	
  8,530

  	
   

  	
  Jiangnan Changxing Shanghai Heavy Industry Co. Ltd.

  	
   

  	
  Jun. 2011

  
	
  HN H1022A

  	
   

  	
  8,530

  	
   

  	
  Jiangnan Changxing Shanghai Heavy Industry Co. Ltd.

  	
   

  	
  Sep. 2011

  
	
  HN S456

  	
   

  	
  12,600

  	
   

  	
  Hyundai Samho Heavy Industries Co. Ltd.

  	
   

  	
  Feb. 2012

  
	
  HN S457

  	
   

  	
  12,600

  	
   

  	
  Hyundai Samho Heavy Industries Co. Ltd.

  	
   

  	
  Feb. 2012

  
	
  HN S458

  	
   

  	
  12,600

  	
   

  	
  Hyundai Samho Heavy Industries Co. Ltd.

  	
   

  	
  May. 2012

  
	
  HN S459

  	
   

  	
  12,600

  	
   

  	
  Hyundai Samho Heavy Industries Co. Ltd.

  	
   

  	
  Jun. 2012

  
	
  HN S460

  	
   

  	
  12,600

  	
   

  	
  Hyundai Samho Heavy Industries Co. Ltd.

  	
   

  	
  Jun. 2012

  

 

 

Execution
Page

 

Borrower

 

	
  EXECUTED and DELIVERED

  	
  )

  	
  /s/ Iraklis Prokopakis

  
	
  by its duly authorised attorney-in-fact

  	
  )

  	
  Iraklis Prokopakis

  
	
  for and on behalf of

  	
  )

  	
  Senior Vice-President/COO/Director

  
	
  DANAOS CORPORATION

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Dimltri J. Andritsoyiannis

  
	
   

  	
   

  	
  Dimltri J. Andritsoyiannis

  
	
  in the presence of:

  	
   

  	
   

  	
  Vice-President/CFO/Director

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/ Joanna G. Koukouli

  	
   

  	
   

  	
   

  
	
  Witness

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
  JOANNA G. KOUKOULI

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Occupation:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Lead Arranger

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  FORTIS BANK (NEDERLAND) N.V.

  	
  )

  	
  /s/ Authorized Signatory

  
	
  as Lead Arranger

  	
  )

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Co-Arrangers

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by 

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  LLOYDS TSB BANK PLC

  	
  )

  	
  /s/ Authorized Signatory

  
	
  as Co-Arranger

  	
  )

  	
   

  
							

 

11

 

Execution
Page

 

Borrower

 

	
  EXECUTED and DELIVERED

  	
  )

  	
   

  
	
  by its duly authorised attorney-in-fact

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  DANAOS CORPORATION

  	
  )

  	
  /s/ Authorized Signatory

  
	
  in the presence of:

  	
   

  	
   

  	
  Attorney-in-Fact

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/ Authorized Signatory

  	
   

  	
   

  	
   

  
	
  Witness

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Occupation:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Lead Arranger

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  FORTIS BANK (NEDERLAND) N.V.

  	
  )

  	
  /s/ A.C.A.J. Biesbroeck

  	
   

  	
  /s/ P.R.G. Zaman

  
	
  as Lead Arranger

  	
  )

  	
  A.C.A.J. Biesbroeck

  	
   

  	
  P.R.G. Zaman

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Co-Arrangers

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by 

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  LLOYDS TSB BANK PLC

  	
  )

  	
  /s/ Authorized Signatory

  
	
  as Co-Arranger

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
							

 

11

 

Execution
Page

 

Borrower

 

	
  EXECUTED and DELIVERED

  	
  )

  	
   

  
	
  by its duly authorised attorney-in-fact

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  DANAOS CORPORATION

  	
  )

  	
  /s/ Authorized Signatory

  
	
  in the presence of:

  	
   

  	
   

  	
  Attorney-in-Fact

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/ Authorized Signatory

  	
   

  	
   

  	
   

  
	
  Witness

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Occupation:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Lead Arranger

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  FORTIS BANK (NEDERLAND) N.V.

  	
  )

  	
  /s/ Authorized Signatory

  
	
  as Lead Arranger

  	
  )

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Co-Arrangers

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by PAUL THOM

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  LLOYDS TSB BANK PLC

  	
  )

  	
  /s/ Paul Thom

  
	
  as Co-Arranger

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
							

 

11

 

	
  NATIONAL BANK OF GREECE S.A.

  	
  )

  	
  /s/ Florakis Panagiotis

  	
   

  	
  /s/ M. Maniatakou

  
	
  as Co-Arranger

  	
  )

  	
  FLORAKIS PANAGIOTIS

  	
   

  	
  M. Maniatakou

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  The Lenders

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  FORTIS BANK (NEDERLAND) N.V.

  	
  )

  	
  /s/ A.C.A.J. Biesbroeck 

  	
   

  	
  /s/ P.R.G. Zaman

  
	
  as a Lender

  	
  )

  	
  A.C.A.J. Biesbroeck

  	
   

  	
  P.R.G. Zaman

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by PAUL THOM

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  LLOYDS TSB BANK PLC

  	
  )

  	
  /s/ Paul Thom

  
	
  as Lender

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by

  	
  )

  	
   

  	
   

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  	
   

  	
   

  
	
  NATIONAL BANK OF GREECE S.A.

  	
  )

  	
  /s/ Florakis Panagiotis

  	
   

  	
  /s/ M. Maniatakou

  
	
  as Lender

  	
  )

  	
  FLORAKIS PANAGIOTIS

  	
   

  	
  M. Maniatakou

  

 

12

 

	
  Agent

  	
   

  	
   

  

 

	
  SIGNED by

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  FORTIS BANK (NEDERLAND) N.V.

  	
  )

  	
  /s/ L.J.M. van der Knaap

  
	
  as Agent

  	
  )

  	
  L.J.M. van der Knaap

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ M.G. Meijer

  
	
   

  	
   

  	
  M.G. Meijer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Security Trustee

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  FORTIS BANK (NEDERLAND) N.V.

  	
  )

  	
  /s/ L.J.M. van der Knaap

  
	
  as Security Trustee

  	
  )

  	
  L.J.M. van der Knaap

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ M.G. Meijer

  
	
   

  	
   

  	
  M.G. Meijer

  

 

13

 

	
  Swap Banks

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by

  	
  )

  	
   

  	
   

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  	
   

  	
   

  
	
  FORTIS BANK (NEDERLAND) N.V.

  	
  )

  	
  /s/ A.C.A.J.
  Biesbroeck

  	
   

  	
  /s/ P.R.G. Zaman

  
	
  as Swap Bank

  	
  )

  	
  A.C.A.J. Biesbroeck

  	
   

  	
  P.R.G. Zaman

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by PAUL THOM

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  LLOYDS TSB BANK PLC

  	
  )

  	
  /s/ Paul Thom

  
	
  as Swap Bank

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  	
   

  	
   

  
	
  NATIONAL BANK OF GREECE S.A.

  	
  )

  	
  /s/ Florakis Panagiotis

  	
   

  	
  /s/ M. Maniatakou

  
	
  as Swap Bank

  	
  )

  	
  FLORAKIS PANAGIOTIS

  	
   

  	
  M. Maniatakou

  
	
   

  	
   

  	
  [ILLEGIBLE]

  	
   

  	
   

  

 

14

 

	
  Guarantors

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  SEACARRIERS SERVICES INC.

  	
  )

  	
  /s/ Joanna Koukouli

  
	
  as Guarantor

  	
  )

  	
  Joanna Koukouli

  
	
   

  	
   

  	
  Attorney-in-Fact

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  SEACARRIERS LINES INC.

  	
  )

  	
  /s/ Joanna Koukouli

  
	
  as Guarantor

  	
  )

  	
  Joanna Koukouli

  
	
   

  	
   

  	
  Attorney-in-Fact

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  AUCKLAND MARINE INC.

  	
  )

  	
  /s/ Joanna Koukouli

  
	
  as Guarantor

  	
  )

  	
  Joanna Koukouli

  
	
   

  	
   

  	
  Attorney-in-Fact

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SIGNED by

  	
  )

  	
   

  
	
  for and on behalf of

  	
  )

  	
   

  
	
  WELLINGTON MARINE INC.

  	
  )

  	
  /s/ Joanna Koukouli

  
	
  as Guarantor

  	
  )

  	
  Joanna Koukouli

  
	
   

  	
   

  	
  Attorney-in-Fact

  

 

15

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]