Document:

Form of Idemnification Agreement

 Exhibit 10.10 
  
 _____________________________ 
 Director or
Officer 
  
 FORM OF INDEMNIFICATION AGREEMENT 
  
 AGREEMENT, effective as of
                    , 2005 between Seaspan Corporation, a Marshall Islands corporation (the “Company”), and
                     (the “Indemnitee”). 
  
 WHEREAS, it is essential that the Company attract and maintain responsible, qualified directors and corporate officers; and 
  
 WHEREAS, the Indemnitee is a director or corporate officer of the Company;
and 
  
 WHEREAS, both the Company and the Indemnitee recognize the
risk of litigation and other claims that may be asserted against directors and corporate officers of public companies, as well as the possibility that in certain situations a threat of litigation may be employed to deter them from exercising their
judgment in the best interests of the Company, and the consequent need to allocate the risk of personal liability through indemnification and insurance; and 
  
 WHEREAS, the Amended and Restated Articles of Incorporation of the Company (the “Charter”) requires the Company to indemnify and advance
expenses to its directors and officers to the fullest extent permitted from time to time by law and the Indemnitee is willing to serve or continue to serve as a director or corporate officer of the Company provided that he be indemnified as provided
herein; and 
  
 WHEREAS, in recognition of the Indemnitee’s
need for substantial protection against personal liability and of the Indemnitee’s reliance on the Charter, and in part to provide the Indemnitee with specific contractual assurance that the protection promised by the Charter will be available
to the Indemnitee (regardless of, among other things, any amendment to or revocation of the Charter or any change in the composition of the Company’s Board of Directors or any acquisition transaction involving the Company), the Company wishes
to provide in this Agreement for the indemnification of and the advancement of expenses to the Indemnitee to the fullest extent permitted by law and as set forth in this Agreement, and, to the extent insurance is maintained, for the continued
coverage of the Indemnitee under the Company’s directors and officers liability insurance policies. 
  
 NOW, THEREFORE, in consideration of the premises and of the Indemnitee continuing to serve the Company directly or, at its request, another enterprise,
and intending to be legally bound hereby, the parties hereto do hereby covenant and agree as follows: 
  
 1. CERTAIN DEFINITIONS 
  
 (a) Change in Control: Shall be deemed to have occurred if after the date hereof (i) a report on Schedule 13D shall be filed with
the Securities and Exchange Commission pursuant to Section 13(d) of the Securities Exchange Act of 1934 (the “Act”) disclosing that any person, other than the Company or any employee benefit plan sponsored by the Company, is the beneficial
owner (as the term is defined in Rule 13d-3 under the Act) directly or indirectly, of 

  

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twenty percent or more of the total voting power represented by the Company’s then outstanding Voting Securities (calculated as provided in paragraph
(d) of Rule 13d-3 under the Act in the case of rights to acquire Voting Securities); or (ii) any person, other than the Company or any employee benefit plan sponsored by the Company, shall purchase shares pursuant to a tender offer or exchange offer
to acquire any Voting Securities of the Company (or securities convertible into such Voting Securities) for cash, securities or any other consideration, provided that after consummation of the offer, the person in question is the beneficial owner
directly or indirectly, of twenty percent or more of the total voting power represented by the Company’s then outstanding Voting Securities (all as calculated under clause (i)); or (iii) the stockholders of the Company shall approve (A) any
consolidation or merger of the Company in which the Company is not the continuing or surviving corporation (other than a merger of the Company in which holders of Common Shares of the Company immediately prior to the merger have the same
proportionate ownership of Common Shares of the surviving corporation immediately after the merger as immediately before), or pursuant to which Common Shares of the Company would be converted into cash, securities or other property, or (B) any sale,
lease, exchange of other transfer (in one transaction or a series of related transactions) of all or substantially all the assets of the Company; or (iv) there shall have been a change in the composition of the Board of Directors of the Company at
any time during any consecutive twenty-four month period such that “continuing directors” cease for any reason to constitute at least a 70% majority of the Board. For purposes of this clause, “continuing directors” means those
members of the Board who either were directors at the beginning of such consecutive twenty-four month period or were elected by or on the nomination or recommendation of at least a 70% majority of the then-existing Board. So long as there has not
been a Change in Control within the meaning of clause (iv), the Board of Directors may adopt by a 70% majority vote of the “continuing directors” a resolution to the effect that a prior Change of Control within the meaning of clauses (i)
or (ii) is no longer applicable for the purposes of future Expenses in connection with future Proceedings to which this Agreement relates. 
  
 (b) Expenses: Expenses of every kind actually and reasonably incurred in connection with a Proceeding, including, without
limitation, counsel fees. Expenses shall include, without limitation, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone and fax charges, postage, delivery service
charges, costs associated with procurement of surety bonds or loans or other costs associated with the stay of a judgment, penalty or fine, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting,
defending, preparing to prosecute or defend, investigating, or being or preparing to be a witness in a Proceeding. 
  
 (c) Independent Counsel: A lawyer or law firm that is experienced in matters of corporation law and neither presently is, nor in
the past five years has been, retained to represent: (i) the Company or the Indemnitee in any matter, or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term
“Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or the Indemnitee in an action to
determine Indemnitee’s rights under this Agreement. Independent Counsel may be, but need not be, a member(s) of the bar of New York. 
  

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 (d) Proceeding: Any threatened, pending or completed action, suit or proceeding,
whether civil, criminal, administrative, or investigative and whether formal or informal. A “Proceeding” may be instituted by another party, or by or in the right of the Company, or by the Indemnitee. The term “Proceeding” shall
also include any preliminary inquiry or investigation that the Indemnitee in good faith believes might lead to the institution of a “Proceeding”. 
  
 (e) Reviewing Party: Any appropriate person or body, appointed by a majority vote of the directors of the Company’s Board of
Directors who are not parties to the particular Proceeding, even though less than a quorum, consisting of (i) a member or members of the Company’s Board of Directors who is or are not parties to the particular Proceeding for which the
Indemnitee is seeking indemnification or (ii) any other person or body who is not a party to the particular Proceeding for which the Indemnitee is seeking indemnification, or (iii) Independent Counsel. 
  
 (f) Voting Securities: Any securities of the Company
which vote generally in the election of directors. 
  
 2. TERM OF
AGREEMENT: This Agreement shall continue until and terminate upon the later of (i) the tenth anniversary after the date that the Indemnitee shall have ceased to serve as a director or officer of the Company (or in any other capacity in respect of
which he has rights of indemnification hereunder) (the “Anniversary Date”); or (ii) the final determination of all pending Proceedings commenced by the Anniversary Date in respect of which Indemnitee is granted rights of indemnification or
advancement of Expenses hereunder, including any Proceeding commenced by the Indemnitee to enforce the Indemnitee’s rights under this Agreement. 
  
 3. RIGHT TO INDEMNIFICATION AND ADVANCE; HOW DETERMINED. 
  
 (a) In the event the Indemnitee was, is or becomes a party to or witness or other participant in, or is threatened to be made a party to
or witness or other participant in, a Proceeding by reason of (or arising in whole or in part out of) Indemnitee’s present or former status as a director or officer of the Company, or Indemnitee having served at the request of the Company in
such capacity in another corporation, joint venture, employee benefit plan, trust or other enterprise, the Company shall indemnify the Indemnitee to the fullest extent permitted by law in effect on the date hereof (and to such greater extent as
applicable law may hereafter permit) against the obligation to pay any and all Expenses, judgments, settlements, penalties, or fines (including any interest assessed, and including any excise tax assessed with respect to an employee benefit plan)
incurred on account of or with respect to such Proceeding. Such indemnification shall be made as soon as practicable, but in any event no later than sixty days after a written demand, which reasonably evidences the Expenses actually and reasonably
incurred by the Indemnitee, is presented to the Secretary of the Company. This Agreement shall be effective as well with respect to any such Proceedings which relate to acts or omissions occurring or allegedly occurring prior to the execution of
this Agreement, and regardless of whether the Company may have been incorporated in a different jurisdiction at the time of such acts or omissions. 
  

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 (b) In connection with any such Proceeding, if so requested in writing by the Indemnitee,
the Company shall advance, within two business days of such written request and upon receipt by the Company of an undertaking by or on behalf of the Indemnitee to repay such amount if it shall ultimately be determined that the Indemnitee is not
entitled to be indemnified by the Company as authorized hereunder, any and all reasonable Expenses to the Indemnitee (an “Expense Advance”). An Expense Advance shall be made without awaiting the results of the Proceeding giving rise to the
Expenses or the outcome of any further Proceeding to determine the Indemnitee’s right to indemnification hereunder, and without making any preliminary determination as to the Indemnitee’s state of mind at the time of the activities in
question. 
  
 (c) Notwithstanding the foregoing,
the Company shall not be obligated to indemnify under this Section 3 a person made a party to a Proceeding if (i) the Indemnitee is not successful within the meaning of Section 6, (ii) the appropriate Reviewing Party specified in subsection (e)
below shall have determined (in a written opinion in any case in which Independent Counsel referred to in Section 4 hereof is involved, a copy of which shall be delivered to the Indemnitee) that the Indemnitee’s activities in question were at
the time taken known or believed by him to be clearly in conflict with the best interests of the Company or (iii) in the event and to the extent that such Indemnitee has entered a plea of guilty in the applicable criminal Proceeding. Subject to the
limitations set forth herein and absent actual and material fraud in the request for indemnification, the obligation of the Company promptly to make an Expense Advance(s) pursuant to subsection (b) above is unqualified, is not subject to any means
or other credit test, and shall be enforceable by the Indemnitee in summary judicial proceedings; but shall be subject, however, to the condition subsequent that if, when and to the extent the Reviewing Party may subsequently determine that the
Indemnitee’s activities were at the time taken known or believed by him to be clearly in conflict with the best interests of the Company, then the Company shall be entitled to be reimbursed by the Indemnitee for all such amounts theretofore
advanced. The obligation of the Indemnitee to make such reimbursement shall be unsecured and without interest. The Indemnitee hereby undertakes so to reimburse the Company, the receipt of which unsecured and interest free undertaking is hereby
accepted by the Company as the sole condition of advancing the Indemnitee’s Expenses pursuant to subsection (b) above. If the Indemnitee has commenced legal or arbitration proceedings to secure a determination that the Indemnitee should be
indemnified hereunder, the Indemnitee shall not be required to reimburse the Company for any Expense Advance until a final determination is made by the court or the arbitrators as the case may be that the Indemnitee’s activities were at the
time taken known or believed by him to be clearly in conflict with the best interests of the Company. 
  
 (d) Notwithstanding anything in this Agreement to the contrary, the Indemnitee shall not be entitled to indemnification pursuant to this
Agreement in connection with any Proceeding initiated by the Indemnitee unless the Board of Directors has authorized or consented to the initiation of such Proceeding. For purposes of the foregoing sentence, a Proceeding shall not be deemed to have
been “initiated” by the Indemnitee where its primary purpose is to enforce the Indemnitee’s rights under this Agreement. 
  
 (e) If there has not been a Change in Control, the Reviewing Party shall be as determined by the Board of Directors, either in the
specific case or under procedures adopted by the Board. If there has been a Change in Control (other than one approved in advance by a majority of the Company’s Board of Directors who were elected by the public shareholders prior 

  

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to such Change in Control), the Reviewing Party shall be the Independent Counsel referred to in Section 4. 
  
 (f) If there has been a Change in Control and any dispute
arises under this Agreement, the parties agree that at the Indemnitee’s option such dispute shall be resolved by binding arbitration proceedings in accordance with the rules of the American Arbitration Association and the results of such
proceedings shall be conclusive on both parties and shall not be subject to judicial interference or review on any ground whatsoever, including without limitation any claim that the Company was wrongfully induced to enter into this agreement to
arbitrate such a dispute. The Indemnitee shall be entitled to advancement of his Expenses in connection with such proceedings and, notwithstanding anything to the contrary in subsection (c) above, the Indemnitee shall be obligated to reimburse the
Company for his Expenses in connection with such arbitration proceedings only if it is finally determined by the arbitrators that the Indemnitee is not entitled to be indemnified hereunder. 
  
 4. INDEPENDENT COUNSEL. 
  
 (a) The Company agrees that if there is a Change in Control
of the Company (other than a Change of Control which has been approved in advance by a majority of the Company’s Board of Directors who were elected by the public shareholders prior to such Change in Control) then with respect to all matters
thereafter arising concerning the rights of the Indemnitee to indemnity payments and Expense Advances under the Charter, this Agreement or any other agreement or Company by-law now or hereafter in effect relating to indemnification, the Company
shall (unless otherwise agreed by the Indemnitee) seek legal advice exclusively from Independent Counsel selected by the Indemnitee and approved by the Company (which approval shall not be unreasonably withheld). Such counsel, among other things,
shall render its written opinion to the Company and to the Indemnitee as to whether the Indemnitee is entitled to be indemnified under this Agreement. The Company agrees to pay the reasonable fees and expenses of the Independent Counsel and fully to
indemnify such counsel against any and all expenses (including attorney’s fees), claims, liabilities and damages arising out of or relating to this Agreement or such counsel’s engagement pursuant hereto. 
  
 (b) Following the initial selection of Independent Counsel
by the Indemnitee, the Company may within seven (7) days deliver to the Indemnitee a written objection to such selection. Such objection may be asserted only on the ground that the Independent Counsel selected does not satisfy the definition of
Independent Counsel in subsection l(c) and the objection shall set forth with particularity the factual basis for such assertion. Absent a proper and timely objection, the person, persons or firm selected shall act as Independent Counsel. If such
written objection is made, the Indemnitee may select alternate Independent Counsel. If the Company objects to the alternate selection the Indemnitee may either seek a judicial determination that such objections were inappropriate or else the
Indemnitee may direct that the Company select Independent Counsel by lot from among the [New York] firms having more than [25] attorneys and having a rating of “av” or better in the then current Martindale-Hubbell Law Directory. Such
selection by lot shall be made by the principal financial officer of the Company in the presence of the Indemnitee (and the Indemnitee’s legal counsel, or either or neither of them as the Indemnitee may elect). Such law firms shall be contacted
in the order of their selection, requesting each firm to accept engagement to make the determination required, 

  

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until one of such firms accepts such engagement. Notwithstanding the foregoing, in lieu of selection of alternate Independent Counsel after the Company has
objected to the Indemnitee’s first or second selection, the Indemnitee may request in writing that the Independent Counsel method be dispensed with and that any dispute be decided by arbitration as provided in subsection 3(f). 
  
 5. INDEMNIFICATION FOR ENFORCEMENT EXPENSES. The Company shall indemnify the
Indemnitee against any and all Expenses (including attorneys’ fees) and, if requested in writing by the Indemnitee, shall (within two business days of such written request and upon receipt of an undertaking by or on behalf of the Indemnitee to
repay such amount if it shall ultimately be determined that the Indemnitee is not entitled to be indemnified by the Company as authorized hereunder) advance such Expenses to the Indemnitee that will be actually and reasonably incurred by the
Indemnitee in connection with any Proceeding initiated by the Indemnitee for: (i) indemnification or advancement of Expenses by the Company under the Marshall Islands Business Corporations Act (the “BCA”), the Charter, this Agreement, or
any other agreement or Company by-law, vote of shareholders or resolution of the Board now or hereafter in effect relating to indemnification; or (ii) recovery under any directors’ and officers’ liability insurance policies maintained by
the Company. The Indemnitee shall cooperate with the person, persons or entity making the determination with respect to the Indemnitee’s entitlement to indemnification under this Agreement. Any expenses actually and reasonably incurred by the
Indemnitee in so cooperating shall be borne by the Company (irrespective of the determination as to the Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold the Indemnitee harmless therefrom.

  
 6. SUCCESS; PARTIAL INDEMNITY, ETC. Notwithstanding any other
provision of this Agreement, to the extent that the Indemnitee has been successful on the merits or otherwise in defense of any or all claims made against him in a Proceeding or in defense of any issue or matter therein, including dismissal without
prejudice, the Indemnitee shall be indemnified against all Expenses actually and reasonably incurred in connection therewith. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion
of the Expenses, judgments, settlements, penalties or fines paid as a result of a Proceeding but not, however, for all of the total amount thereof, the Company shall nevertheless indemnify the Indemnitee for the portion thereof to which the
Indemnitee is entitled. 
  
 7. BURDEN OF PROOF. In connection with
any determination by the Reviewing Party or otherwise as to whether the Indemnitee is entitled to be indemnified hereunder, the person or persons or entity or body making such determination shall presume that the Indemnitee is entitled to
indemnification under this Agreement and the burden of overcoming such presumption shall be on the Company. The termination of any claim, action, suit or proceeding by judgment, order, settlement (whether with or without court approval) or
conviction, or upon a plea of nolo contendere, or its equivalent, shall not create a presumption that the Indemnitee’s activities were at the time taken known or believed by him to be clearly in conflict with the best interests of the Company,
or that a court has determined that indemnification is not permitted. In addition, neither the failure of the Reviewing Party to have made a determination as to the Indemnitee’s state of mind, nor an actual determination by the Reviewing Party
that the Indemnitee had a state of mind prior to the commencement of arbitration (if applicable) or legal 

  

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proceedings to secure a determination that the Indemnitee should be indemnified under this agreement and applicable law, shall be a defense to the
Indemnitee’s claim or create a presumption of any kind. The knowledge and/or actions, or failure to act, of any director, officer, agent, fiduciary or employee of the Company shall not be imputed to the Indemnitee for purposes of determining
the right to indemnification under this Agreement. 
  
 8.
NONEXCLUSIVITY, ETC. The rights of the Indemnitee hereunder shall be in addition to any other rights the Indemnitee may have under the Charter, the BCA, any by-law of the Company, any other agreement, a vote of shareholders or a resolution of the
Board of Directors or otherwise. To the extent that a change in the BCA (whether by statute or judicial decision) permits greater indemnification by agreement than would be afforded currently under the Charter and this Agreement, it is the intent of
the parties that the Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. 
  
 9. CONTRIBUTION. In the event the indemnification provided for in Section 3 of this Agreement is unavailable to the Indemnitee in connection with any
Proceeding under any Federal law, the Company, in lieu of indemnifying the Indemnitee, shall contribute to the Expenses actually and reasonably incurred by the Indemnitee in such proportion as deemed fair and reasonable by the Reviewing Party, in
light of all the circumstances of the Proceeding giving rise to such Expenses, in order to reflect (i) the relative benefits received by the Company and the Indemnitee as a result of the event(s) and/or transaction(s) giving rise to such Proceeding,
and (ii) the relative fault of each. 
  
 10. NOTICE OF
PROCEEDINGS; DEFENSE OF CLAIM. The Indemnitee agrees promptly to notify the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which
may be subject to indemnification or advancement of Expenses covered hereunder. Notwithstanding any other provision of this Agreement, with respect to any such Proceeding of which the Indemnitee notifies the Company, (a) the Company shall be
entitled to participate therein at its own expense; (b) except as provided in this Section, to the extent that it may wish, the Company, jointly with any other indemnifying party similarly notified, shall be entitled to assume the defense thereof,
with counsel satisfactory to the Indemnitee. After notice from the Company to the Indemnitee of its election so to assume the defense thereof, the Company shall not be liable to the Indemnitee under this Agreement for any expenses of counsel
subsequently incurred by the Indemnitee in connection with the defense thereof except as otherwise provided below. The Indemnitee shall have the right to employ the Indemnitee’s own counsel in such Proceeding, but the fees and expenses of such
counsel incurred after notice from the Company of its assumption of the defense thereof shall be at the expense of the Indemnitee unless: (i) the employment of counsel by the Indemnitee has been authorized by the Company, (ii) the Indemnitee shall
have reasonably concluded that there may be a conflict of interest between the Company and the Indemnitee in the conduct of the defense of such Proceeding, or (iii) the Company shall not within 60 calendar days of receipt of notice from the
Indemnitee in fact have employed counsel to assume the defense of the Proceeding, in each of which cases, the fees and expenses of the Indemnitee’s counsel shall be at the expense of the Company. The Company shall not be entitled to assume the
defense of any Proceeding brought by or on behalf of the Company or as to which the Indemnitee shall have made the conclusion provided for in (ii) above; and (c) if the Company has assumed the defense of a Proceeding, the Company shall not 

  

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be liable to indemnify the Indemnitee under this Agreement for any amounts paid in settlement of any Proceeding effected without the Company’s written
consent. The Company shall not settle any Proceeding in any manner that would involve an admission of guilt or wrongful conduct by the Indemnitee, or impose any penalty, prohibition, restriction or limitation on, or disclosure obligation with
respect to, the Indemnitee without the Indemnitee’s prior written consent. Neither the Company nor the Indemnitee will unreasonably withhold its consent to any proposed settlement. 
  
 11. LIABILITY INSURANCE. To the extent the Company maintains an insurance policy or policies providing directors’ and
officers’ liability insurance, the Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any Company director or officer. 
  
 12. PERIOD OF LIMITATIONS. No legal action shall be brought and no cause of
action shall be asserted by or in the right of the Company against the Indemnitee, the Indemnitee’s spouse, heirs, executors or personal or legal representatives after the expiration of two years from the date of accrual of such cause of
action, and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such two-year period; provided, however, that if any shorter period of limitations is
otherwise applicable to any such cause of action such shorter period shall govern. 
  
 13. PROCEDURES VALID. Each of the Company and the Indemnitee shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Agreement that the procedures and presumptions of
this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company and the Indemnitee, respectively, is bound by all the provisions of this Agreement. If a final determination
is made that the Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration (including, but not limited to, any appellate Proceedings). 
  
 14. AMENDMENTS, ETC. No supplement, modification or amendment of this
Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall
such waiver constitute a continuing waiver. 
  
 15. SUBROGATION.
In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of the Indemnitee, who shall execute an appropriate document in favor of the Company to secure such rights.

  
 16. NO DUPLICATION OF PAYMENTS. The Company shall not be
liable under this Agreement to make any payment in connection with any Proceeding to the extent the Indemnitee has otherwise actually received payment (under any insurance policy, the Charter, Company by-laws or otherwise) of the amounts otherwise
indemnifiable hereunder. 
  

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 17. BINDING EFFECT, ETC. This Agreement shall be binding upon and inure to the benefit of and be
enforceable by the parties hereto and their respective successors, assigns (including any direct or indirect successor by purchase, merger or consolidation or otherwise to all or substantially all of the business and/or assets of the Company),
spouses, heirs, executors and personal and legal representatives. This Agreement shall continue in effect regardless of whether Indemnitee continues to serve as a director or corporate officer of the Company or of any other entity at the
Company’s request. In the event of his demise, this agreement shall be enforceable by the Indemnitee’s legal representatives as fully as if the Indemnitee had survived. 
  
 18. SEVERABILITY; HEADINGS; PRONOUNS. The provisions of this Agreement shall be severable in the event that any of the
provisions hereof (including any provision within a single section, paragraph or sentence) is held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable in any respect, and the validity and enforceability of any such
provision in every other respect and of the remaining provisions hereof shall not be in any way impaired and shall remain enforceable to the fullest extent permitted by law. The headings of the Sections of this Agreement are inserted for convenience
only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof. The masculine pronoun wherever used in this Agreement includes the corresponding feminine pronoun. 
  
 19. NOTICES. All notices, requests, demands and other communications
hereunder shall be in writing and shall be deemed to have been duly given (i) upon delivery if delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, or (ii) on the third business day
after mailing if mailed by certified or registered mail with postage prepaid, and addressed as follows: If to the Indemnitee, as shown after the Indemnitee’s signature below; and if to the Company, to Corporate Secretary, Seaspan Corporation,
Room 503, 5/F, Lucky Commercial Center, 103 Des Voeux Road West, Hong Kong, China, or such other address as may have been furnished in writing to the Indemnitee by the Company or to the Company by the Indemnitee, as the case may be. 
  
 20. GOVERNING LAW. This Agreement shall be governed by and construed and
enforced in accordance with the laws of the State of New York applicable to contracts made and to be performed in such state without giving effect to the principles of conflicts of laws. 
  
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. 

 

			
	 SEASPAN CORPORATION

		
	By:	 	 
	 	 	 Gerry Wang
 Chief Executive Officer

		
	 	 	 
		
	 	 	 
	 	 	 [Address]

  

 9Agreement between Seaspan Corporation and Relational Advisors LLC

 Exhibit 10.11 
  

			
	

	  	 RELATIONAL ADVISORS LLC
 12400 High Bluff Drive · Suite 600 · San Diego, California 92130 · Telephone (858) 704-3300 · Fax (858) 704-3340

  
 May 18, 2005 
  
 Gerry Wang 
 Chief Executive Officer 
 Seaspan Corporation 
 200 Granville Street, Suite 2600 
 Vancouver, BC Canada V6C, 1S4 
  
 Dear Gerry, 
  

	1)	This Agreement inclusive of Annex A (the “Agreement”), confirms that Seaspan Container Lines, Ltd., its affiliates, successors and/or assignees (the “Company”)
has engaged Relational Advisors LLC (“Relational”) to act as its financial advisor. As financial advisor, Relational will be advising the Company on the Initial Public Offering of shares in the Company or a newly formed entity comprising
all or a portion of the assets of the Company (the “Offering”) and any of the following: 

  

	 	(i.)	assist in the selection of underwriters; 

  

	 	(ii.)	assist in corporate governance matters; 

  

	 	(iii.)	review and/or assist in the preparation of financial projections for the Company; 

  

	 	(iv.)	provide advice on pro forma capitalization; 

  

	 	(v.)	provide advice on the proper pricing for the offering; 

  

	 	(vi.)	assist in raising debt facilities to support the Company’s new capital structure; 

  

	 	(vii.)	such other matters as you may reasonably request. 

  
 Specifically, our services shall consist of assistance with respect to the Offering or any transaction similar to any of the foregoing, whether directly or indirectly, or
in a single transaction or series of transactions (individually or collectively, a “Transaction”). 
  

	2)	 In connection with this Agreement, and in the event that the Company and/or any entity substantially owned by the Company and/or any partnership, affiliate and/or
joint venture of the Company consummates a Transaction, the Company shall pay or cause Relational to be paid a fee equal to ten percent (10.0%) of the six percent (6.0%) Underwriting Spread. The Relational fee is to be paid from the six percent
(6.0%) Underwriting Spread and is not an incremental fee. “Underwriting Spread” shall mean the difference between the public offering price per share and the price received by the Company per share multiplied by the number of shares sold
in the Offering, including the underwriters’ over allotment option or “Green 

  

					
	Seaspan Container Lines Ltd.	  	Page 2	  	May 18, 2005

  

	 	 
Shoe”. Any fee pursuant to this subparagraph shall be paid in cash by wire transfer of immediately available funds simultaneously upon closing or
consummation of such Transaction and/or the exercising and closing of the “Green Shoe”. 

  

	3)	In addition to the foregoing compensation, and regardless of whether or not a Transaction occurs, the Company shall reimburse Relational (or cause Relational to be reimbursed) for
reasonable out-of-pocket expenses, which shall include the reasonable fees and disbursements of our counsel, as they are incurred. 

  

	4)	Since Relational will be acting on the Company’s behalf, the Company agrees to provide Relational with an Indemnification, attached as Annex A. Further, in connection with this
engagement, Relational is acting as an independent contractor and not in any other capacity, with duties owing solely to the Company, and nothing in this Agreement is intended to create an agency and/or other fiduciary relationship between the
parties and/or any of their affiliates, directors, officers, principals, agents and/or employees. The sole obligation of Relational hereunder shall be the contractual obligations specifically created by this Agreement. The Company acknowledges to
Relational that the Company’s executive officers and directors have sufficient knowledge, experience and sophistication with respect to financial matters, the capital markets, transactions such as mergers, acquisitions, dispositions,
recapitalizations, initial public offerings and business combinations to enable the Company to independently evaluate any recommendation made by Relational with respect to such matters and to act knowledgeably with respect thereto and that the
Company is not relying exclusively on Relational and/or any of its employees, principals, owners, directors, officers and/or agents in determining the actions, if any, to be taken by the Company with respect to such matters. The Company further
acknowledges that the final decision with respect to any action taken by the Company pertaining to any matter under Relational’s engagement shall be that of the Company. The Company acknowledges that it has been given an opportunity to be
represented by counsel in connection with this engagement. Any rule of law and/or any legal decision that would require interpretation of any claimed ambiguities in this Agreement against the party that drafted it has no application and is expressly
waived. 

  

	5)	Relational’s services under this Agreement may be terminated by the Company or by Relational upon written notice to the other party. If the Company elects to terminate
Relational’s services hereunder or if this Agreement terminates in accordance with its terms, then promptly following such termination, (i) any and all due but unpaid fees shall be paid to Relational by the Company and (ii) any and all
reimbursable expenses incurred before the date of termination shall be paid to Relational by the Company. If Relational elects to terminate this Agreement, any and all due but unpaid fees and/or reimbursable expenses incurred before the date of
termination shall be paid to Relational by the Company promptly following such termination. Notwithstanding the foregoing, the provisions of the preceding paragraph shall survive any termination, whether by the Company, or by Relational, as a result
of the passage of time or otherwise. 

  

	6)	 Any written and/or oral opinion or other advice provided by Relational, whether formal or informal, in connection with our engagement hereunder is exclusively for
the information of the Board of Directors and senior management of the Company, and may not be disclosed, in 

  

					
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whole or in part, to any third party and/or circulated and/or referred to publicly by the Company, nor may the Company permit any third party to disclose,
circulate and/or refer to such information without Relational’s prior written consent. Further, Relational shall have the opportunity prior to any dissemination to review and approve in writing any public announcement by the Company that
includes reference to Relational. 

  

	7)	In connection with Relational’s engagement, the Company will furnish, and/or arrange to have furnished, to Relational such information requested by Relational for purposes of
performing the services hereunder. It is understood that Relational will be entitled to rely on and use such information and other information that was made publicly available by the Company without independent investigation and/or verification
thereof and will not be responsible in any way for the accuracy, completeness and/or reasonableness of any such information or to conduct any independent verification thereof or any appraisal of assets. Relational agrees that all non-public
information concerning the Company which is given to Relational will be used solely in the course of the performance of Relational’s services hereunder and will be treated confidentially for so long as it remains non-public. Except as otherwise
required by law, judicial and/or regulatory process, Relational will not disclose this information to a third party without the consent of the Company. 

  

	8)	The Company acknowledges that Relational may, at its option and expense and after consummation of a Transaction, place announcements and/or advertisements and/or otherwise publicize
the Transaction and Relational’s role in it (which may include the reproduction of the Company’s logo and a hyperlink to the Company’s website) on Relational’s Internet Website, marketing materials and in such financial and other
newspapers and journals as it may choose, stating that Relational has acted as financial advisor to the Company in connection with the Transaction and/or Financing. Furthermore, if requested by Relational, the Company shall include a mutually
acceptable reference to Relational in any press release and/or other public announcement made by the Company regarding the Transaction. 

  

	9)	This Agreement is governed by and construed in accordance with the laws of the State of California without regard to principles of conflicts of law. 

  

	10)	The invalidity and/or enforceability of any provision of this Agreement shall not affect the validity and/or enforceability of any other provisions of this Agreement, which shall
remain in full force and effect. The Agreement may not be amended and/or modified, except in writing, signed by each of the parties. This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original and all
of which shall constitute one and the same instrument. 

  

	11)	This Agreement shall begin as of the date hereof and shall continue to a date of one (1) year after the date hereof, unless terminated earlier by the parties as provided in
paragraph five (5) or extended by mutual written consent of the parties. 

  
 Please sign and return the duplicate of this Agreement and all attachments thereto, which shall thereupon constitute a binding agreement. The provisions of Annex A and paragraphs four (4), five 

  

					
	Seaspan Container Lines Ltd.	  	Page 4	  	May 18, 2005

  

 
(5), six (6), seven (7), eight (8), nine (9), ten (10) and, to the extent provided in paragraph five (5), the provisions of paragraphs two (2) and three (3),
shall survive termination of this Agreement. 
  
 This Agreement represents our
entire agreement and supersedes any and all prior agreements and/or understandings between the Company and Relational in connection with the engagement. 
  

	
	Very truly yours,
	
	 /s/ JAMES ZEHENTBAUER

	 RELATIONAL ADVISORS LLC

  
 By: James Zehentbauer 
 Principal 
  

			
	Confirmed:	 	 /s/ GERRY WANG

  
 Seaspan Container Lines Ltd.

  
 By: Gerry Wang 
  
 Title: Chief Executive Officer 
  
 Date: July 12, 2005 
  

  
 Annex A 
  
 The Company will reimburse Relational Advisors LLC (“Relational”),
and its affiliates and Relational’s and its affiliates’ respective directors, officers, principals, owners, agents, or employees, or each other person, if any, controlling Relational or any of its affiliates (individually or collectively,
the “Indemnified Parties”), for any and all expenses (including but not limited to fees and expenses of counsel and the cost of any investigation, preparation and retention of expert witnesses) as they are incurred in connection with
investigating, preparing, pursuing or defending any action, claim, suit, investigation or proceeding brought by any person or entity, including stockholders of the Company, any governmental or regulatory agency or otherwise, related to, arising out
of or in connection with this engagement or any matter referred to in this Agreement, whether or not pending or threatened and whether or not any Indemnified Party is a party thereto. The Company also will indemnify and hold harmless each of the
Indemnified Parties from and against any and all losses, claims, damages, liabilities and expenses related to, arising out of or in connection with this engagement or any matter referred to in this Agreement, except to the extent that any such loss,
claim, damage, liability or expense is finally judicially determined to have resulted primarily from the gross negligence or willful misconduct of Relational in performing the services that are the subject of this Agreement. 
  
 If for any reason the foregoing indemnification is unavailable to the
Indemnified Parties (other than in accordance with the terms hereof) or insufficient to hold them harmless, then in lieu of indemnification the Company shall contribute to the amount paid or payable by the Indemnified Parties as a result of such
loss, claim, damage, liability or expense (i) in such proportion as is appropriate to reflect the relative benefits to Relational, on the one hand, and the Company, on the other hand, of this engagement or (ii) if the allocation provided by clause
(i) above is not available, in such proportion as is appropriate to reflect not only the relative benefits referred to in such clause (i) but also the relative fault of each of Relational and the Company, as well as any other relevant equitable
considerations; provided, however, in no event shall Relational’s aggregate contribution to the amount paid or payable exceed the aggregate amount of fees actually received by Relational under this engagement. For the purposes of this
agreement, the relative benefits to the Company and Relational of the engagement shall be deemed to be in the same proportion as (a) the total value paid or contemplated to be paid or received or contemplated to be received by the Company or the
Company’s stockholders, as the case may be, in the transaction or transactions that are the subject of this engagement, whether or not any such transaction is consummated, bears to (b) the fees paid or to be paid to Relational under this
engagement. 
  
 The reimbursement, indemnity and contribution
obligations of the Company under this paragraph shall be in addition to any liability which the Company may otherwise have, shall extend upon the same terms and conditions to any Indemnified Party, and shall be binding upon and inure to the benefit
of any successors, assigns, heirs and personal representatives of the Company or the Indemnified Parties. The Company also agrees that none of the Indemnified Parties shall have any liability to the Company or any person asserting claims on behalf
of or in right of the Company in connection with or as a result of either this engagement or any matter referred to in this Agreement except to the extent that any losses, claims, damages, liabilities or expenses incurred by the Company are finally
judicially determined to have resulted primarily from the gross negligence or willful misconduct of Relational in performing the services that are the subject of this Agreement. 
  
 The Company will not, without the prior written consent of Relational, settle, compromise, consent to the entry of any
judgment in or otherwise seek to terminate any action, claim, suit or proceeding in respect of which indemnification may be sought hereunder whether or not any Indemnified Party is a party thereto, unless such settlement, compromise, consent or
termination includes a release of each Indemnified Party from any liabilities arising out of such action, claim, suit or proceeding. 
  
 Prior to entering into any agreement or arrangement with respect to, or effecting, any proposed sale, exchange, dividend or other distribution or
liquidation of all or a significant portion of its assets in one or a series of transactions or any significant recapitalization or reclassification of its outstanding securities that does not directly or indirectly provide for the assumption of the
obligations of the Company set forth in this Annex A, the Company will notify Relational in writing thereof (if not previously so notified) and, if requested by Relational, shall arrange in connection therewith alternative means of providing for the
obligations of the Company set forth in this paragraph, including the assumption of such obligations by another party, insurance, surety bonds or the creation of an escrow, in each case in an amount and upon terms and conditions satisfactory to
Relational. 
  
 The Company hereby consents to personal
jurisdiction and service and venue in any appropriate court in which any claim which is subject to this agreement is brought against any of the Indemnified Parties. Any right to trial by jury with respect to any action or proceeding arising in
connection with or as a result of either this engagement or any matter referred to in this Agreement is hereby waived by the parties hereto. 
  
 It is understood that, in connection with Relational’s engagement, it may also be engaged to act for the Company in one or more additional
capacities, and that the terms of the original engagement or any such additional engagement may be embodied in one or more separate written agreements. The provisions of this Annex A shall apply to the original engagement, any such additional
engagement and any modification of the original engagement or such additional engagement and shall remain in full force and effect following the completion or termination of Relational’s engagement(s).

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