Document:

Exhibit 4.1

 

	
  COMMON STOCK

  	
   

  	
  

  	
   

  	
  COMMON
  STOCK

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Number

  	
   

  	
   

  	
  Shares

  	
   

  
	
   

  	
   

  	
   

  	
  ]

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SEE REVERSE FOR CERTAIN
  DEFINITIONS

  
	
   

  	
   

  	
   

  	
   

  
							

 

 

ALMA
MARITIME LIMITED

 

Incorporated under the Laws of
the Republic of the Marshall Islands

 

	
   

  	
  CUSIP:

  

 

THIS CERTIFIES THAT

 

 

IS THE RECORD HOLDER OF

 

FULLY PAID AND NON-ASSESSABLE SHARES OF THE
COMMON STOCK, $0.001 PAR VALUE PER SHARE, OF

 

ALMA
MARITIME LIMITED

 

transferable on the books of the Corporation
in person or by duly authorized attorney upon surrender of this Certificate
properly

endorsed. This Certificate is not valid until
countersigned by the Transfer Agent and registered by the Registrar.

 

Witness the facsimile seal of the Corporation
and the facsimile signatures of its duly authorized officers.

 

Dated:

 

[INSERT SEAL]

 

	
   

  	
   

  	
   

  
	
  Secretary

  	
   

  	
  Chief Executive
  Officer

  
	
   

  	
   

  	
   

  
	
  Countersigned
  and Registered

  	
   

  	
   

  
	
  [Insert Name of Transfer Agent]

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  BY:

  	
   

  	
   

  	
   

  
	
   

  	
  AUTHORIZED SIGNATURE

  	
   

  	
   

  
					

 

 

ALMA MARITIME LIMITED

 

The Corporation will furnish without charge to each stockholder who so
requests a statement of the designations, powers, preferences and relative
participating, optional or other special rights of each class of stock or
series thereof of the Corporation and the qualifications, limitations or
restrictions of such preferences and/or rights. Such request may be made to the
Secretary of the Corporation or the Transfer Agent.

 

THIS CERTIFICATE ALSO EVIDENCES AND ENTITLES THE HOLDER HEREOF TO
CERTAIN RIGHTS AS SET FORTH IN A STOCKHOLDERS RIGHTS AGREEMENT BETWEEN ALMA
MARITIME LIMITED AND AMERICAN STOCK TRANSFER & TRUST COMPANY AS THE
RIGHTS AGENT (THE “RIGHTS AGREEMENT”), THE TERMS OF WHICH ARE HEREBY
INCORPORATED HEREIN BY REFERENCE AND A COPY OF WHICH IS ON FILE AT THE
PRINCIPAL EXECUTIVE OFFICES OF ALMA MARITIME LIMITED UNDER CERTAIN
CIRCUMSTANCES, AS SET FORTH IN THE RIGHTS AGREEMENT, SUCH RIGHTS WILL BE
EVIDENCED BY SEPARATE CERTIFICATES AND WILL NO LONGER BE EVIDENCED BY THIS
CERTIFICATE. ALMA MARITIME LIMITED WILL MAIL TO THE HOLDER OF THIS CERTIFICATE
A COPY OF THE RIGHTS AGREEMENT WITHOUT CHARGE AFTER RECEIPT OF A WRITTEN
REQUEST THEREFOR. UNDER CERTAIN CIRCUMSTANCES SET FORTH IN THE RIGHTS
AGREEMENT, RIGHTS ISSUED TO, OR HELD BY, ANY PERSON WHO IS, WAS OR BECOMES AN
ACQUIRING PERSON OR ANY AFFILIATE OR ASSOCIATE THEREOF (AS SUCH TERMS ARE
DEFINED IN THE RIGHTS AGREEMENT), WHETHER CURRENTLY HELD BY OR ON BEHALF OF
SUCH PERSON OR BY ANY SUBSEQUENT HOLDER, MAY BECOME NULL AND VOID.

 

The following abbreviations, when used in the inscription on the face of
this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

 

	
  TEN
  COM

  	
  —

  	
  as
  tenants in common

  	
  UNIF
  GIFT MIN ACT —
                            
  Custodian
                                
  under Uniform Gifts to Minors Act

  	
   

  
	
  TEN
  ENT

  	
  —

  	
  as
  tenants by the entireties

  	
                                                 (Cust)

  	
  (Minor)

  	
  (State)

  
	
  JT
  TEN

  	
  —

  	
  as
  joint tenants with right of survivorship and not as tenants in 

  	
  UNIF
  TRF MIN ACT —
                            
  Custodian (until age                     )
                            
  under Uniform Transfers to

  
	
   

  	
   

  	
  common

  	
                                                 (Cust)

  	
                               
                   (Minor)

  	
   

  
	
  COM
  PROP

  	
  —

  	
  as
  community property

  	
                                             Minors
  Act

  	
   

  
	
   

  	
   

  	
   

  	
  (State)

  	
   

  
								

Additional abbreviations may
also be used though not in the above list.

 

FOR VALUE RECEIVED,                                                       
hereby sell, assign and transfer unto

 

PLEASE INSERT SOCIAL SECURITY
OR OTHER

IDENTIFYING NUMBER OF
ASSIGNEE

 

 

(PLEASE PRINT OR TYPEWRITE
NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

 

 

Shares of the capital stock represented by the within Certificate, and
do hereby irrevocably constitute and appoint

 

 

Attorney to transfer the said stock on the books of the within named
Corporation with full power of substitution in the premises.

 

	
  Dated

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  NOTICE:
  

  	
  THE
  SIGNATURE(S) TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME(S) AS
  WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT
  ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

  
	
  Signature(s) Guaranteed

  	
   

  
	
  By

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  THE
  SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION
  (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH
  MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO
  S.E.C. RULE 17Ad-15.Exhibit 4.2

 

SUBSCRIPTION AGREEMENT

 

THIS SUBSCRIPTION AGREEMENT (this “Agreement”), dated as of March     ,
2010, is entered into by and between Alma Maritime Limited, a corporation
incorporated under the laws of the Republic of the Marshall Islands (the “Corporation”),
and Gallery Services Ltd., a Marshall Islands corporation (the “Purchaser”).

 

WHEREAS, the Corporation desires to issue and sell to
Purchaser, and Purchaser desires to subscribe for and purchase from the
Corporation, a number of shares of the Common Stock, par value $0.001 per
share, of the Corporation (“Common Stock”);

 

WHEREAS, the Corporation and Purchaser are executing and
delivering this Agreement in reliance upon an exemption from securities
registration afforded by the provisions of the U.S. Securities Act of 1933, as
amended (the “Securities Act”), and the rules and regulations
promulgated by the U.S. Securities and Exchange Commission thereunder.

 

NOW, THEREFORE, in
consideration of the premises and mutual covenants and obligations hereinafter
set forth and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Corporation and Purchaser,
intending to be legally bound, hereby agree as follows:

 

ARTICLE I

DEFINITIONS

 

The following capitalized terms used in this Agreement
shall have the following respective meanings:

 

“Affiliate” means a
person that directly or indirectly through one or more intermediaries,
controls, or is controlled by, or is under common control with, another person.

 

“Common Stock” means the Common Stock, par
value $0.001 per share, of the Corporation.

 

“Consummation of the Initial Public Offering” following the
sale to the underwriters of the number of firm shares stated in the final
prospectus related to this Corporation’s initial public offering of Common
Stock.

 

“Control” including the terms “controlling,” “controlled by” and
“under common control with,” means the possession, directly or indirectly, of
the power to direct or cause the direction of the management and policies of a
person, whether through the ownership of voting shares, by contract or
otherwise. A person who is the owner of 20% or more of the outstanding voting
shares of any corporation, partnership, unincorporated association or other
entity shall be presumed to have control of such entity, in the absence of
proof by a preponderance of the evidence to the contrary.  Notwithstanding the foregoing, a presumption
of control shall not apply where such person holds voting shares, in good faith
and not for the purpose of circumventing this provision, as an agent, bank,
broker, nominee, custodian or trustee for one or more owners who do not
individually or as a group have control of such entity.

 

 

“Purchase Price” means one million one hundred
seventy four thousand one hundred U.S. Dollars ($1,174,100.00).

 

“Shares” means 58,705 shares of Common Stock to
be purchased by the Purchaser and issued by the Corporation in accordance with
the terms hereof.

 

“United States” means United States of America,
its territories and possessions, any State of the United States of America or
the District of Columbia

 

“U.S. person” means any natural person who is a
resident of the United States or to any other U.S. person (as defined in
Regulation S under the Securities Act).

 

ARTICLE II

PURCHASE AND SALE OF SHARES

 

SECTION 2.1.                      Agreement to Sell and
Purchase the Shares.  Subject to the terms and
conditions hereof, the Corporation agrees to issue and sell to Purchaser, and
the Purchaser agrees to subscribe for and purchase from the Corporation, the
Shares   in exchange for the Purchase Price paid by the
Purchaser as set forth in Section 2.2 below.

 

SECTION 2.2.                      Payment for Issuance of
Shares.  The
Purchaser shall pay the Purchase Price for the Shares and the Corporation shall
issue the Shares to the Purchaser concurrently with the Consummation of the
Initial Public Offering.

 

SECTION 2.3.                      Registration Rights. 
In connection with the sale and purchase of the Shares, the Corporation
has agreed to grant the Purchaser certain registration rights with respect to
Common Stock held by the Purchase and concurrently with the execution and
delivery of this Agreement, the Corporation and the Purchaser, together with
certain other purchasers of Common Stock, are entering into a Registration Rights
Agreement for such purpose..

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF
THE PURCHASER

 

The Purchaser hereby
represents and warrants to the Corporation as follows:

 

(a)         The Purchaser has the legal capacity,
power and authority to enter into and perform all of its obligations under this
Agreement.  This Agreement has been duly
and validly authorized, executed and delivered by the Purchaser and constitutes
a valid and binding agreement of the Purchaser, enforceable against the
Purchaser in accordance with its terms, except that such enforceability (i) may
be limited by bankruptcy, insolvency, moratorium or other similar laws
affecting or relating to enforcement of creditors’ rights generally and (ii) is
subject to general principles of equity.

 

(b)         The execution, delivery and performance
by the Purchaser of this Agreement will not (with or without notice or lapse of
time, or both) (i) result in any violation of any provision of its
articles of incorporation  company
agreement, bylaws or other organizational documents, (ii) conflict with or
constitute breach of, or default under, or result in the creation or imposition
of any lien, encumbrance, security interest, pledge, mortgage, charge, 

 

2

 

other claim, contract, lease, license, indenture,
agreement, commitment or other legally binding arrangement to which it is a
party or by which any of its assets may be bound or (iii) result in any
violation of any applicable law, statute, rule or regulation or order of any
governmental authority.  Except as
already obtained, no material consent, approval, license, permit, order or
authorization of, or registration, declaration or filing with, any federal,
state, local or foreign governmental authority is required in connection with
the execution, delivery and performance of this Agreement or the consummation
of the transactions contemplated hereby.

 

(c)         The Purchaser represents and warrants
that the Purchaser: (i)  is familiar with the Corporation and its business
prospects and (ii) has had an opportunity to select and consult with such
attorneys, business consultants and any other person(s) the Purchaser has
wished to confer with.  The Purchaser
acknowledges that the Corporation has made available to the Purchaser prior to
the signing of this Agreement and sale of any Common Stock, the opportunity to
ask questions of any person authorized to act on behalf of the Corporation
concerning any aspect of the investment and to obtain any additional
information, to the extent the Corporation possesses such information or can
acquire it without unreasonable effort or expense, necessary to verify the
accuracy of the information.

 

(d)         The Purchaser is an “accredited investor,”
as such term is defined in Rule 501(a) of Regulation D under the
Securities Act.   The Purchaser has
substantial knowledge and experience in financial, investment and business
matters, and has the requisite knowledge and experience to evaluate the risks
and merits of this investment.  The
decision of the Purchaser to purchase the Shares hereunder has been made by the
Purchaser independent of any statements, disclosures or judgments as to the
properties, business, prospects or condition (financial or otherwise) of the
Corporation that may have been made or given to the Purchaser.  The Purchaser can and will bear the economic
risks of the Purchaser’s investment in the Corporation and is able to hold the
Corporation’s Common Stock indefinitely without registration and is able to
sustain a complete loss if the Shares become worthless.

 

(e)         The Purchaser is neither a U.S. person
nor acquiring Shares for the account or benefit of any U.S. person.

 

(f)          This Agreement has been executed and
delivered by the Purchaser outside the United States.

 

(g)         (i) The Shares being purchased
hereunder have not been registered under the Securities Act, (ii) such
Shares are being sold pursuant an exemption under Section 4(2) of the
Securities Act or in reliance on Regulation S promulgated under the Securities
Act, and (iii) the Corporation’s reliance on such exemption  or Regulation S is predicated in part on the Purchaser’s
representations made pursuant to this Agreement.  The Purchaser has no contract, undertaking,
agreement or arrangement with any other person or entity to sell, transfer or
pledge any Common Stock that the Purchaser is purchasing hereunder, and the
Purchaser has no present plans or intentions to enter into any such contract,
undertaking, agreement or arrangement.

 

3

 

(h)         The Purchaser acknowledges that the
Shares of Common Stock have not been registered or qualified for resale under
applicable securities laws and may not be sold except pursuant to such
registration or qualification thereunder or an exemption therefrom.

 

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF
THE CORPORATION

 

The Corporation hereby
represents and warrants to the Purchaser as follows:

 

(a)         The Corporation has the legal capacity,
power and authority to enter into and perform all of its obligations under this
Agreement.  The execution, delivery and
performance of this Agreement by the Corporation will not violate any other
material agreement to which the Corporation is a party.  This Agreement has been duly and validly
authorized, executed and delivered by the Corporation and constitutes a valid
and binding agreement of the Corporation, enforceable against the Corporation
in accordance with its terms, except that such enforceability (i) may be
limited by bankruptcy, insolvency, moratorium or other similar laws affecting
or relating to enforcement of creditors’ rights generally and (ii) s
subject to general principles of equity.

 

(b)         The Shares, upon issuance against payment
therefore hereunder, will be duly authorized, validly issued, fully paid and
non-assessable.

 

ARTICLE V

MISCELLANEOUS

 

SECTION 5.1.                      Governing Law. 
This Agreement shall be governed by and construed under the law of the
State of New York without regard to its choice of law provisions.

 

SECTION 5.2.                      Assignment. 
Neither this Agreement nor any right, remedy, obligation or liability
arising hereunder shall be assignable by either the Corporation or Purchaser
without the other’s prior written consent, except that Purchaser (or any
successor assignee) may assign any or all of the foregoing in whole or in part
to one or more of its Affiliates.

 

SECTION 5.3.                      Binding Effect. 
The provisions of this Agreement shall be binding upon and accrue to the
benefit of the parties hereto and their respective heirs, legal
representatives, successors and permitted assigns.

 

SECTION 5.4.                      Section and  Other
Headings; Interpretation.  The section
and other headings herein are for convenience of reference only, do not
constitute part of this Agreement and shall not be deemed to limit or otherwise
affect any of the provisions hereof.

 

SECTION 5.5.                      Counterparts. 
This Agreement may be executed in counterparts, each of which when so
executed and delivered shall be deemed to be an original and all of which
together shall be deemed to be one and the same agreement.

 

4

 

SECTION
5.6.                      Entire Agreement;
Waiver, Amendment.  This Agreement contains the
entire agreement of the parties with respect to the subject matter hereof and
supersedes any and all prior agreements, understandings or undertakings,
written or oral.  Neither this Agreement
nor any provision hereof shall be waived, amended, modified, changed,
discharged or terminated except by an instrument in writing, signed by the
party against whom any waiver, amendment, modification, change, discharge or
termination is sought.

 

[Signature
page follows.]

 

5

 

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

 

	
   

  	
  ALMA MARITIME LIMITED

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GALLERY SERVICES LTD.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

 

[Signature Page to Alma Maritime Limited Subscription Agreement]

 

6

 

SUBSCRIPTION
AGREEMENT

 

THIS SUBSCRIPTION AGREEMENT (this “Agreement”), dated as of March     ,
2010, is entered into by and between Alma Maritime Limited, a corporation
incorporated under the laws of the Republic of the Marshall Islands (the “Corporation”),
and Kingsway Navigation Limited, a Marshall Islands corporation (the “Purchaser”).

 

WHEREAS, the Corporation desires to issue and
sell to Purchaser, and Purchaser desires to subscribe for and purchase from the
Corporation, a number of shares of the Common Stock, par value $0.001 per
share, of the Corporation (“Common Stock”);

 

WHEREAS, the Corporation and Purchaser are
executing and delivering this Agreement in reliance upon an exemption from
securities registration afforded by the provisions of the U.S. Securities Act
of 1933, as amended (the “Securities Act”), and the rules and
regulations promulgated by the U.S. Securities and Exchange Commission
thereunder.

 

NOW, THEREFORE, in
consideration of the premises and mutual covenants and obligations hereinafter
set forth and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Corporation and Purchaser,
intending to be legally bound, hereby agree as follows:

 

ARTICLE
I

DEFINITIONS

 

The following capitalized
terms used in this Agreement shall have the following respective meanings:

 

“Affiliate”
means a person that directly or indirectly through one or more intermediaries,
controls, or is controlled by, or is under common control with, another person.

 

“Common Stock”
means the Common Stock, par value $0.001 per share, of the Corporation.

 

“Consummation of the Initial
Public Offering” following the sale to the underwriters of the number
of firm shares stated in the final prospectus related to this Corporation’s initial
public offering of Common Stock.

 

“Control” including the terms “controlling,” “controlled
by” and “under common control with,” means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and
policies of a person, whether through the ownership of voting shares, by
contract or otherwise. A person who is the owner of 20% or more of the
outstanding voting shares of any corporation, partnership, unincorporated
association or other entity shall be presumed to have control of such entity,
in the absence of proof by a preponderance of the evidence to the
contrary.  Notwithstanding the foregoing,
a presumption of control shall not apply where such person holds voting shares,
in good faith and not for the purpose of circumventing this provision, as an
agent, bank, broker, nominee, custodian or trustee for one or more owners who
do not individually or as a group have control of such entity.

 

 

“Purchase Price”
means five hundred twenty five thousand nine hundred U.S. Dollars ($525,900.00).

 

“Shares” means 26,295
shares of Common Stock to be purchased by the Purchaser and issued by the
Corporation in accordance with the terms hereof.

 

“United States”
means United States of America, its territories and possessions, any State of
the United States of America or the District of Columbia

 

“U.S. person”
means any natural person who is a resident of the United States or to any other
U.S. person (as defined in Regulation S under the Securities Act).

 

ARTICLE
II

PURCHASE
AND SALE OF SHARES

 

SECTION 2.1.                      Agreement to Sell and
Purchase the Shares.  Subject to the terms and
conditions hereof, the Corporation agrees to issue and sell to Purchaser, and the
Purchaser agrees to subscribe for and purchase from the Corporation, the Shares   in exchange for the
Purchase Price paid by the Purchaser as set forth in Section 2.2 below.

 

SECTION 2.2.                      Payment for Issuance of
Shares.  The Purchaser shall
pay the Purchase Price for the Shares and the Corporation shall issue the Shares
to the Purchaser concurrently with the Consummation of the Initial Public
Offering.

 

SECTION 2.3.                      Registration Rights.  In
connection with the sale and purchase of the Shares, the Corporation has agreed
to grant the Purchaser certain registration rights with respect to Common Stock
held by the Purchase and concurrently with the execution and delivery of this
Agreement, the Corporation and the Purchaser, together with certain other
purchasers of Common Stock, are entering into a Registration Rights Agreement
for such purpose..

 

ARTICLE
III

REPRESENTATIONS
AND WARRANTIES OF THE PURCHASER

 

The
Purchaser hereby represents and warrants to the Corporation as follows:

 

(a)           The Purchaser has the legal capacity, power and
authority to enter into and perform all of its obligations under this
Agreement.  This Agreement has been duly
and validly authorized, executed and delivered by the Purchaser and constitutes
a valid and binding agreement of the Purchaser, enforceable against the Purchaser
in accordance with its terms, except that such enforceability (i) may be
limited by bankruptcy, insolvency, moratorium or other similar laws affecting
or relating to enforcement of creditors’ rights generally and (ii) is
subject to general principles of equity.

 

(b)           The execution, delivery and performance by the
Purchaser of this Agreement will not (with or without notice or lapse of time,
or both) (i) result in any violation of any provision of its articles of
incorporation  company agreement, bylaws or
other organizational documents, (ii) conflict with or constitute breach
of, or default under, or result in the creation or imposition of any lien,
encumbrance, security interest, pledge, mortgage, charge, 

 

2

 

other claim, contract,
lease, license, indenture, agreement, commitment or other legally binding
arrangement to which it is a party or by which any of its assets may be bound
or (iii) result in any violation of any applicable law, statute, rule or
regulation or order of any governmental authority.  Except as already obtained, no material
consent, approval, license, permit, order or authorization of, or registration,
declaration or filing with, any federal, state, local or foreign governmental
authority is required in connection with the execution, delivery and
performance of this Agreement or the consummation of the transactions
contemplated hereby.

 

(c)           The Purchaser represents and warrants that the
Purchaser: (i)  is familiar with the Corporation and its business
prospects and (ii) has had an opportunity to select and consult with such
attorneys, business consultants and any other person(s) the Purchaser has
wished to confer with.  The Purchaser
acknowledges that the Corporation has made available to the Purchaser prior to
the signing of this Agreement and sale of any Common Stock, the opportunity to
ask questions of any person authorized to act on behalf of the Corporation
concerning any aspect of the investment and to obtain any additional
information, to the extent the Corporation possesses such information or can
acquire it without unreasonable effort or expense, necessary to verify the
accuracy of the information.

 

(d)           The Purchaser is an “accredited investor,” as such
term is defined in Rule 501(a) of Regulation D under the Securities Act.   The Purchaser has substantial knowledge and
experience in financial, investment and business matters, and has the requisite
knowledge and experience to evaluate the risks and merits of this investment.  The decision of the Purchaser to purchase the
Shares hereunder has been made by the Purchaser independent of any statements,
disclosures or judgments as to the properties, business, prospects or condition
(financial or otherwise) of the Corporation that may have been made or given to
the Purchaser.  The Purchaser can and
will bear the economic risks of the Purchaser’s investment in the Corporation
and is able to hold the Corporation’s Common Stock indefinitely without
registration and is able to sustain a complete loss if the Shares become
worthless.

 

(e)           The Purchaser is neither a U.S. person nor acquiring Shares
for the account or benefit of any U.S. person.

 

(f)            This Agreement has been executed and delivered by the
Purchaser outside the United States.

 

(g)           (i) The Shares being purchased hereunder have not
been registered under the Securities Act, (ii) such Shares are being sold
pursuant an exemption under Section 4(2) of the Securities Act or in
reliance on Regulation S promulgated under the Securities Act, and (iii) the
Corporation’s reliance on such exemption  or Regulation
S is predicated in part on the Purchaser’s representations made pursuant to
this Agreement.  The Purchaser has no
contract, undertaking, agreement or arrangement with any other person or entity
to sell, transfer or pledge any Common Stock that the Purchaser is purchasing
hereunder, and the Purchaser has no present plans or intentions to enter into
any such contract, undertaking, agreement or arrangement.

 

3

 

(h)           The Purchaser acknowledges that the Shares of Common
Stock have not been registered or qualified for resale under applicable
securities laws and may not be sold except pursuant to such registration or
qualification thereunder or an exemption therefrom.

 

ARTICLE
IV

REPRESENTATIONS
AND WARRANTIES OF THE CORPORATION

 

The
Corporation hereby represents and warrants to the Purchaser as follows:

 

(a)           The Corporation has the legal capacity, power and
authority to enter into and perform all of its obligations under this
Agreement.  The execution, delivery and
performance of this Agreement by the Corporation will not violate any other
material agreement to which the Corporation is a party.  This Agreement has been duly and validly
authorized, executed and delivered by the Corporation and constitutes a valid
and binding agreement of the Corporation, enforceable against the Corporation
in accordance with its terms, except that such enforceability (i) may be
limited by bankruptcy, insolvency, moratorium or other similar laws affecting
or relating to enforcement of creditors’ rights generally and (ii) s
subject to general principles of equity.

 

(b)           The Shares, upon issuance against payment therefore
hereunder, will be duly authorized, validly issued, fully paid and
non-assessable.

 

ARTICLE
V

MISCELLANEOUS

 

SECTION 5.1.                      Governing Law. 
This Agreement shall be governed by and construed under the law of the
State of New York without regard to its choice of law provisions.

 

SECTION 5.2.                      Assignment. 
Neither this Agreement nor any right, remedy, obligation or liability
arising hereunder shall be assignable by either the Corporation or Purchaser
without the other’s prior written consent, except that Purchaser (or any
successor assignee) may assign any or all of the foregoing in whole or in part
to one or more of its Affiliates.

 

SECTION 5.3.                      Binding Effect. 
The provisions of this Agreement shall be binding upon and accrue to the
benefit of the parties hereto and their respective heirs, legal
representatives, successors and permitted assigns.

 

SECTION 5.4.                      Section and Other
Headings; Interpretation.  The section
and other headings herein are for convenience of reference only, do not
constitute part of this Agreement and shall not be deemed to limit or otherwise
affect any of the provisions hereof.

 

SECTION 5.5.                      Counterparts. 
This Agreement may be executed in counterparts, each of which when so
executed and delivered shall be deemed to be an original and all of which
together shall be deemed to be one and the same agreement.

 

4

 

SECTION 5.6.                      Entire Agreement; Waiver,
Amendment.  This Agreement contains the entire agreement
of the parties with respect to the subject matter hereof and supersedes any and
all prior agreements, understandings or undertakings, written or oral.  Neither this Agreement nor any provision
hereof shall be waived, amended, modified, changed, discharged or terminated
except by an instrument in writing, signed by the party against whom any
waiver, amendment, modification, change, discharge or termination is sought.

 

[Signature page follows.]

 

5

 

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

 

	
   

  	
  ALMA
  MARITIME LIMITED

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  KINGSWAY
  NAVIGATION LIMITED

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

[Signature Page to Alma Maritime Limited
Subscription Agreement]

 

6

 

SUBSCRIPTION AGREEMENT

 

THIS SUBSCRIPTION AGREEMENT (this “Agreement”), dated as of March     ,
2010, is entered into by and between Alma Maritime Limited, a corporation
incorporated under the laws of the Republic of the Marshall Islands (the “Corporation”),
and Maas Capital Investments B.V., a company organized under the laws of The
Netherlands (the “Purchaser”).

 

WHEREAS, the Corporation desires to issue and sell to
Purchaser, and Purchaser desires to subscribe for and purchase from the
Corporation, a number of shares of the Common Stock, par value $0.001 per
share, of the Corporation (“Common Stock”);

 

WHEREAS, the Corporation and Purchaser are executing and
delivering this Agreement in reliance upon an exemption from securities
registration afforded by the provisions of the U.S. Securities Act of 1933, as
amended (the “Securities Act”), and the rules and regulations
promulgated by the U.S. Securities and Exchange Commission thereunder.

 

NOW, THEREFORE, in
consideration of the premises and mutual covenants and obligations hereinafter
set forth and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Corporation and Purchaser,
intending to be legally bound, hereby agree as follows:

 

ARTICLE I

DEFINITIONS

 

The following capitalized terms used in this Agreement
shall have the following respective meanings:

 

“Affiliate” means a
person that directly or indirectly through one or more intermediaries,
controls, or is controlled by, or is under common control with, another person.

 

“Common Stock” means the Common Stock, par
value $0.001 per share, of the Corporation.

 

“Consummation of the Initial Public Offering” following the
sale to the underwriters of the number of firm shares stated in the final
prospectus related to this Corporation’s initial public offering of Common
Stock.

 

“Control” including the terms “controlling,” “controlled
by” and “under common control with,” means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and
policies of a person, whether through the ownership of voting shares, by
contract or otherwise. A person who is the owner of 20% or more of the
outstanding voting shares of any corporation, partnership, unincorporated
association or other entity shall be presumed to have control of such entity,
in the absence of proof by a preponderance of the evidence to the
contrary.  Notwithstanding the foregoing,
a presumption of control shall not apply where such person holds voting shares,
in good faith and not for the purpose of circumventing this provision, as an
agent, bank, broker, nominee, custodian or trustee for one or more owners who
do not individually or as a group have control of such entity.

 

 

“Purchase Price” means twenty-seven million
twenty thousand U.S. Dollars ($27,020,000.00).

 

“Shares” means 1,351,000 shares of Common Stock
to be purchased by the Purchaser and issued by the Corporation in accordance
with the terms hereof.

 

“United States” means United States of America,
its territories and possessions, any State of the United States of America or
the District of Columbia

 

“U.S. person” means any natural person who is a
resident of the United States or to any other U.S. person (as defined in
Regulation S under the Securities Act).

 

ARTICLE II

PURCHASE AND SALE
OF SHARES

 

SECTION 2.1.                      Agreement to Sell and
Purchase the Shares.  Subject to the terms and
conditions hereof, the Corporation agrees to issue and sell to Purchaser, and the
Purchaser agrees to subscribe for and purchase from the Corporation, the Shares   in exchange for the
Purchase Price paid by the Purchaser as set forth in Section 2.2 below.

 

SECTION 2.2.                      Payment for Issuance of
Shares.  The Purchaser shall
pay the Purchase Price for the Shares and the Corporation shall issue the Shares
to the Purchaser concurrently with the Consummation of the Initial Public
Offering.

 

SECTION 2.3.                      Registration Rights.  In
connection with the sale and purchase of the Shares, the Corporation has agreed
to grant the Purchaser certain registration rights with respect to Common Stock
held by the Purchase and concurrently with the execution and delivery of this
Agreement, the Corporation and the Purchaser, together with certain other
purchasers of Common Stock, are entering into a Registration Rights Agreement
for such purpose..

 

ARTICLE III

REPRESENTATIONS
AND WARRANTIES OF THE PURCHASER

 

The Purchaser hereby
represents and warrants to the Corporation as follows:

 

(a)         The
Purchaser has the legal capacity, power and authority to enter into and perform
all of its obligations under this Agreement. 
This Agreement has been duly and validly authorized, executed and
delivered by the Purchaser and constitutes a valid and binding agreement of the
Purchaser, enforceable against the Purchaser in accordance with its terms,
except that such enforceability (i) may be limited by bankruptcy,
insolvency, moratorium or other similar laws affecting or relating to
enforcement of creditors’ rights generally and (ii) is subject to general
principles of equity.

 

(b)         The execution,
delivery and performance by the Purchaser of this Agreement will not (with or
without notice or lapse of time, or both) (i) result in any violation of
any provision of its articles of incorporation, company agreement, bylaws or
other organizational documents, (ii) conflict with or constitute breach
of, or default under, or result in the creation or imposition of any lien,
encumbrance, security interest, pledge, mortgage, charge,

 

2

 

other claim, contract, lease, license, indenture, agreement, commitment
or other legally binding arrangement to which it is a party or by which any of
its assets may be bound or (iii) result in any violation of any applicable
law, statute, rule or regulation or order of any governmental
authority.  Except as already obtained,
no material consent, approval, license, permit, order or authorization of, or
registration, declaration or filing with, any federal, state, local or foreign governmental
authority is required in connection with the execution, delivery and
performance of this Agreement or the consummation of the transactions
contemplated hereby.

 

(c)         The
Purchaser represents and warrants that the Purchaser: (i)  is familiar
with the Corporation and its business prospects and (ii) has had an
opportunity to select and consult with such attorneys, business consultants and
any other person(s) the Purchaser has wished to confer with.  The Purchaser acknowledges that the
Corporation has made available to the Purchaser prior to the signing of this
Agreement and sale of any Common Stock, the opportunity to ask questions of any
person authorized to act on behalf of the Corporation concerning any aspect of
the investment and to obtain any additional information, to the extent the
Corporation possesses such information or can acquire it without unreasonable
effort or expense, necessary to verify the accuracy of the information.

 

(d)         The
Purchaser is an “accredited investor,” as such term is defined in Rule 501(a) of
Regulation D under the Securities Act.  
The Purchaser has substantial knowledge and experience in financial,
investment and business matters, and has the requisite knowledge and experience
to evaluate the risks and merits of this investment.  The decision of the Purchaser to purchase the
Shares hereunder has been made by the Purchaser independent of any statements,
disclosures or judgments as to the properties, business, prospects or condition
(financial or otherwise) of the Corporation that may have been made or given to
the Purchaser.  The Purchaser can and
will bear the economic risks of the Purchaser’s investment in the Corporation
and is able to hold the Corporation’s Common Stock indefinitely without
registration and is able to sustain a complete loss if the Shares become
worthless.

 

(e)         The
Purchaser is neither a U.S. person nor acquiring Shares for the account or
benefit of any U.S. person.

 

(f)          This
Agreement has been executed and delivered by the Purchaser outside the United
States.

 

(g)         (i) The
Shares being purchased hereunder have not been registered under the Securities
Act, (ii) such Shares are being sold pursuant an exemption under Section 4(2) of
the Securities Act or in reliance on Regulation S promulgated under the
Securities Act, and (iii) the Corporation’s reliance on such exemption  or Regulation S is predicated in part on the Purchaser’s
representations made pursuant to this Agreement.  The Purchaser has no contract, undertaking,
agreement or arrangement with any other person or entity to sell, transfer or
pledge any Common Stock that the Purchaser is purchasing hereunder, and the
Purchaser has no present plans or intentions to enter into any such contract,
undertaking, agreement or arrangement.

 

3

 

(h)         The
Purchaser acknowledges that the Shares of Common Stock have not been registered
or qualified for resale under applicable securities laws and may not be sold
except pursuant to such registration or qualification thereunder or an
exemption therefrom.

 

ARTICLE IV

REPRESENTATIONS
AND WARRANTIES OF THE CORPORATION

 

The Corporation hereby
represents and warrants to the Purchaser as follows:

 

(a)         The
Corporation has the legal capacity, power and authority to enter into and
perform all of its obligations under this Agreement.  The execution, delivery and performance of
this Agreement by the Corporation will not violate any other material agreement
to which the Corporation is a party.  This Agreement has been duly and validly
authorized, executed and delivered by the Corporation and constitutes a valid
and binding agreement of the Corporation, enforceable against the Corporation
in accordance with its terms, except that such enforceability (i) may be
limited by bankruptcy, insolvency, moratorium or other similar laws affecting
or relating to enforcement of creditors’ rights generally and (ii) s
subject to general principles of equity.

 

(b)         The
Shares, upon issuance against payment therefore hereunder, will be duly
authorized, validly issued, fully paid and non-assessable.

 

ARTICLE V

MISCELLANEOUS

 

SECTION 5.1.                      Governing Law. 
This Agreement shall be governed by and construed under the law of the
State of New York without regard to its choice of law provisions.

 

SECTION 5.2.                      Assignment. 
Neither this Agreement nor any right, remedy, obligation or liability
arising hereunder shall be assignable by either the Corporation or Purchaser
without the other’s prior written consent, except that Purchaser (or
any successor assignee) may assign any or all of the foregoing in whole or in
part to one or more of its Affiliates.

 

SECTION 5.3.                      Binding Effect. 
The provisions of this Agreement shall be binding upon and accrue to the
benefit of the parties hereto and their respective heirs, legal
representatives, successors and permitted assigns.

 

SECTION 5.4.                      Section and Other Headings; Interpretation. 
The section and other headings herein are for convenience of reference
only, do not constitute part of this Agreement and shall not be deemed to limit
or otherwise affect any of the provisions hereof.

 

SECTION 5.5.                      Counterparts. 
This Agreement may be executed in counterparts, each of which when so
executed and delivered shall be deemed to be an original and all of which
together shall be deemed to be one and the same agreement.

 

4

 

SECTION 5.6.                      Entire Agreement;
Waiver, Amendment.  This Agreement contains the
entire agreement of the parties with respect to the subject matter hereof and
supersedes any and all prior agreements, understandings or undertakings,
written or oral.  Neither this Agreement
nor any provision hereof shall be waived, amended, modified, changed,
discharged or terminated except by an instrument in writing, signed by the
party against whom any waiver, amendment, modification, change, discharge or
termination is sought.

 

 

[Signature
page follows.]

 

5

 

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

 

	
   

  	
  ALMA MARITIME LIMITED

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MAAS CAPITAL INVESTMENTS B.V.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 

[Signature Page to Alma Maritime Limited Subscription
Agreement]

 

6

 

 

SUBSCRIPTION AGREEMENT

 

THIS SUBSCRIPTION AGREEMENT (this “Agreement”), dated as of March     ,
2010, is entered into by and between Alma Maritime Limited, a corporation
incorporated under the laws of the Republic of the Marshall Islands (the “Corporation”),
and MK Maritime LLC, a Delaware limited liability company (the “Purchaser”).

 

WHEREAS, the Corporation desires to issue and sell to
Purchaser, and Purchaser desires to subscribe for and purchase from the
Corporation, a number of shares of the Common Stock, par value $0.001 per
share, of the Corporation (“Common Stock”);

 

WHEREAS, the Corporation and Purchaser are executing and
delivering this Agreement in reliance upon an exemption from securities
registration afforded by the provisions of the U.S. Securities Act of 1933, as
amended (the “Securities Act”), and the rules and regulations
promulgated by the U.S. Securities and Exchange Commission thereunder.

 

NOW, THEREFORE, in
consideration of the premises and mutual covenants and obligations hereinafter
set forth and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Corporation and Purchaser,
intending to be legally bound, hereby agree as follows:

 

ARTICLE I

DEFINITIONS

 

The following capitalized terms used in this Agreement
shall have the following respective meanings:

 

“Affiliate” means a
person that directly or indirectly through one or more intermediaries,
controls, or is controlled by, or is under common control with, another person.

 

“Common Stock” means the Common Stock, par
value $0.001 per share, of the Corporation.

 

“Consummation of the Initial Public Offering” following the
sale to the underwriters of the number of firm shares stated in the final
prospectus related to the Corporation’s initial public offering of Common Stock.

 

“Control” including the terms “controlling,” “controlled by” and
“under common control with,” means the possession, directly or indirectly, of
the power to direct or cause the direction of the management and policies of a
person, whether through the ownership of voting shares, by contract or
otherwise. A person who is the owner of 20% or more of the outstanding voting
shares of any corporation, partnership, unincorporated association or other
entity shall be presumed to have control of such entity, in the absence of
proof by a preponderance of the evidence to the contrary.  Notwithstanding the foregoing, a presumption
of control shall not apply where such person holds voting shares, in good faith
and not for the purpose of circumventing this provision, as an agent, bank,
broker, nominee, custodian or trustee for one or more owners who do not
individually or as a group have control of such entity.

 

 

“Purchase Price” means thirty-three  million two hundred and eighty thousand U.S. Dollars ($33,280,000.00).

 

“Shares” means 1,664,000 shares of Common Stock
to be purchased by the Purchaser and issued by the Corporation in accordance
with the terms hereof.

 

ARTICLE II

PURCHASE AND SALE OF
SHARES

 

SECTION 2.1.                      Agreement to Sell and
Purchase the Shares.  Subject to the terms and
conditions hereof, the Corporation agrees to issue and sell to Purchaser, and the
Purchaser agrees to subscribe for and purchase from the Corporation, the Shares
in exchange for the Purchase Price paid by the Purchaser as set forth in Section 2.2
below.

 

SECTION 2.2.                      Payment for Issuance of
Shares.  The Purchaser shall
pay the Purchase Price for the Shares and the Corporation shall issue the Shares
to the Purchaser concurrently with the Consummation of the Initial Public
Offering.

 

SECTION 2.3.                      Registration Rights.  In
connection with the sale and purchase of the Shares, the Corporation has agreed
to grant the Purchaser certain registration rights with respect to Common Stock
held by the Purchaser and, concurrently with the execution and delivery of this
Agreement, the Corporation and the Purchaser together with certain other
purchasers of the Common Stock, are entering into a Registration Rights
Agreement for such purpose..

 

ARTICLE III

REPRESENTATIONS
AND WARRANTIES OF THE PURCHASER

 

The Purchaser hereby
represents and warrants to the Corporation as follows:

 

(a)           The Purchaser has the legal capacity,
power and authority to enter into and perform all of its obligations under this
Agreement.  This Agreement has been duly
and validly authorized, executed and delivered by the Purchaser and constitutes
a valid and binding agreement of the Purchaser, enforceable against the
Purchaser in accordance with its terms, except that such enforceability (i) may
be limited by bankruptcy, insolvency, moratorium or other similar laws
affecting or relating to enforcement of creditors’ rights generally and (ii) is
subject to general principles of equity.

 

(b)           The execution, delivery and
performance by the Purchaser of this Agreement will not (with or without notice
or lapse of time, or both) (i) result in any violation of any provision of
its limited liability company agreement, bylaws or other organizational
documents, (ii) conflict with or constitute breach of, or default under ,
or result in the creation or imposition of any lien, encumbrance, security
interest, pledge, mortgage, charge, other claim, contract, lease, license,
indenture, agreement, commitment or other legally binding arrangement to which it
is a party or by which any of its assets may be bound or (iii) result in
any violation of any applicable law, statute, rule or regulation or order
of any governmental authority.  Except as
already obtained, no material consent, approval, license, permit, order or
authorization of, or registration, declaration or filing with, any federal,
state, local or foreign governmental authority

 

2

 

is required in connection with the execution, delivery
and performance of this Agreement or the consummation of the transactions
contemplated hereby.

 

(c)           The Purchaser represents and warrants
that the Purchaser: (i)  is familiar with the Corporation and its business
prospects and (ii) has had an opportunity to select and consult with such
attorneys, business consultants and any other person(s) the Purchaser has
wished to confer with.  The Purchaser
acknowledges that the Corporation has made available to the Purchaser prior to
the signing of this Agreement and sale of any Common Stock, the opportunity to
ask questions of any person authorized to act on behalf of the Corporation
concerning any aspect of the investment and to obtain any additional
information, to the extent the Corporation possesses such information or can
acquire it without unreasonable effort or expense, necessary to verify the
accuracy of the information.

 

(d)           The Purchaser is an “accredited
investor,” as such term is defined in Rule 501(a) of Regulation D
under the Securities Act.  The Purchaser
has substantial knowledge and experience in financial, investment and business
matters, and has the requisite knowledge and experience to evaluate the risks
and merits of this investment.  The
decision of the Purchaser to purchase the Shares hereunder has been made by the
Purchaser independent of any statements, disclosures or judgments as to the
properties, business, prospects or condition (financial or otherwise) of the
Corporation that may have been made or given to the Purchaser.  The Purchaser can and will bear the economic
risks of the Purchaser’s investment in the Corporation and is able to hold the
Corporation’s Common Stock indefinitely without registration and is able to
sustain a complete loss if the Shares become worthless.

 

(e)           The Purchaser recognizes that: (i) the
Shares being purchased hereunder have not been registered under the Securities
Act, (ii) such Shares are being sold pursuant an exemption under Section 4(2) of
the Securities Act, and (iii) the Corporation’s reliance on such exemption
is predicated in part on the Purchaser’s representations made pursuant to this
Agreement.  The Purchaser is acquiring
the Shares for its own account, for investment purposes only and has no
contract, undertaking, agreement or arrangement with any other person or entity
to sell, transfer or pledge any Shares that the Purchaser is purchasing
hereunder, and the Purchaser has no present plans or intentions to enter into
any such contract, undertaking, agreement or arrangement.

 

(f)            The Purchaser acknowledges and
agrees that the Shares and the other shares of Common Stock held by the
Purchaser have not been registered or qualified for resale under applicable
securities laws and may not be sold except pursuant to such registration or
qualification thereunder or an exemption therefrom.

 

ARTICLE IV

REPRESENTATIONS
AND WARRANTIES OF THE CORPORATION

 

The Corporation hereby
represents and warrants to the Purchaser as follows:

 

(a)           The Corporation has the legal
capacity, power and authority to enter into and perform all of its obligations
under this Agreement.  The execution,
delivery and performance of this Agreement by the Corporation will not violate
any other material agreement

 

3

 

to which the Corporation is a party.  This Agreement has been duly and validly
authorized, executed and delivered by the Corporation and constitutes a valid
and binding agreement of the Corporation, enforceable against the Corporation
in accordance with its terms, except that such enforceability (i) may be
limited by bankruptcy, insolvency, moratorium or other similar laws affecting
or relating to enforcement of creditors’ rights generally and (ii) s
subject to general principles of equity.

 

(b)           The Shares, upon issuance against
payment therefore hereunder, will be duly authorized, validly issued, fully
paid and non-assessable.

 

ARTICLE V

MISCELLANEOUS

 

SECTION 5.1.                      Governing Law. 
This Agreement shall be governed by and construed under the law of the
State of New York without regard to its choice of law provisions.

 

SECTION 5.2.                      Assignment. 
Neither this Agreement nor any right, remedy, obligation or liability
arising hereunder shall be assignable by either the Corporation or Purchaser
without the other’s prior written consent, except that Purchaser (or any
successor assignee) may assign any or all of the foregoing in whole or in part
to one or more of its Affiliates.

 

SECTION 5.3.                      Binding Effect. 
The provisions of this Agreement shall be binding upon and accrue to the
benefit of the parties hereto and their respective heirs, legal representatives,
successors and permitted assigns.

 

SECTION 5.4.                      Section and Other Headings; Interpretation. 
The section and other headings herein are for convenience of reference
only, do not constitute part of this Agreement and shall not be deemed to limit
or otherwise affect any of the provisions hereof.

 

SECTION 5.5.                      Counterparts. 
This Agreement may be executed in counterparts, each of which when so
executed and delivered shall be deemed to be an original and all of which
together shall be deemed to be one and the same agreement.

 

SECTION 5.6.                      Entire Agreement;
Waiver, Amendment.  This Agreement contains the
entire agreement of the parties with respect to the subject matter hereof and
supersedes any and all prior agreements, understandings or undertakings,
written or oral.  Neither this Agreement
nor any provision hereof shall be waived, amended, modified, changed,
discharged or terminated except by an instrument in writing, signed by the
party against whom any waiver, amendment, modification, change, discharge or
termination is sought.

 

[Signature
page follows]

 

4

 

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

 

	
   

  	
  ALMA MARITIME LIMITED

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MK MARITIME LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 

[Signature Page to Alma — MK Maritime Subscription Agreement]

 

5

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