Document:

Exhibit 4.17

      

       

      AMENDMENT NO. 5 TO COMMERCIAL MANAGEMENT AGREEMENT

       

      This Amendment No. 5 (this “Amendment”) dated as of November 3, 2021, by and among SEANERGY MANAGEMENT CORP., a
        company incorporated in Marshall Islands whose registered office is at Trust Company Complex, Ajeltake Island, Majuro, Marshall Islands, MH 96960, for its own behalf and as agent for and on behalf of the Shipowning Affiliates (the “Company”), and FIDELITY MARINE INC., a company incorporated in the Marshall Islands whose registered office is at Trust Company Complex, Ajeltake Island, Majuro Marshall
        Islands MH 96960 (hereinafter called the “Commercial Manager”) to the Commercial Management Agreement dated as of March 2, 2015, by and among the Company and the Commercial Manager as amended by an Amendment
        No. 1 dated as of September 11th, 2015, further amended by an Amendment No. 2 dated as of February 24th, 2016, further amended by an Amendment No. 3 dated as of February 1st, 2018 and further amended by an Amendment
        No. 4 dated as of June 28, 2018 (together referred to as the “Agreement”). Capitalized terms used herein without definition shall have the respective meanings ascribed thereto (or incorporated by reference)
        in the Agreement, which also contains rules of usage that apply to terms defined therein and herein.

       

      RECITAL

      

      

      WHEREAS, the Company and the Commercial Manager desire to enter into this Amendment No. 5
          for the purpose of amending and restating Clause 2 of the Agreement.

      

      

      NOW, THEREFORE, in consideration of the foregoing recitals and the mutual covenants herein
          contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

       

      Amended and Restated Clause 2.2 of the Agreement

       

      Clause 2.2 of the Agreement is hereby amended and restated as follows:

       

      “

       

      	2.2	
              For services performed hereunder by the Commercial Manager, the Company shall pay, or procure that the relevant member of the Group pays, to the Commercial Manager as a management fee (the “Fee”)
                comprising of: (i) an annualized fee of Euro one hundred twenty thousand (€120,000) net per year which will be paid in twelve equal monthly payments of Euro 10,000 net each (to be made on or about the last day of every month); and (ii) a
                commission fee of zero point fifteen percent (0.15%) calculated on the collected gross hire/ freight/ demurrage payable when the relevant hire/ freight/ demurrage are collected, provided that on an
                annual basis the total Fee under (i) and (ii) will never exceed United States Dollars four hundred thousand (USD400,000) net. The Fee hereunder shall be paid to the Commercial Manager to an account of the Commercial Manager advised in
                writing to the Company. ”

            

       

      
        
          

      

      Except as provided hereinabove, all other terms and conditions of the Agreement shall remain unchanged and in full force and effect.

       

      IN WITNESS WHEREOF, the parties hereinabove have caused this Amendment No. 5 to the Agreement to be signed in
          duplicate by their respective and duly authorized representatives as of the date first written hereinabove.

       

      	
              SEANERGY MANAGEMENT

            	 	
              FIDELITY MARINE INC.

            
	
              CORP.

            	 	 	 
	 	 	 	 	 
	
              By:

            	
              /s/ Stamatios Tsantanis

            	 	
              By:

            	
              /s/Nikolaos Frantzeskakis

            
	
              Name:

            	
              Stamatios Tsantanis

            	 	
              Name:

            	
              Nikolaos Frantzeskakis

            
	
              Title:

            	
              Director/President

            	 	
              Title:

            	
              Sole DirectorExhibit 4.37

      

       

      

      SIDE LETTER

       

      
        	
                To:

              	
                FELLOW SHIPPING CO.

              
	 	
                Trust Company Complex

              
	 	
                Ajeltake Road

              
	 	
                Ajeltake Island

              
	 	
                Majuro MH96960

              
	 	
                Marshall Islands

              
	 	 
	 	
                and

              
	 	 
	 	
                PREMIER MARINE CO.

              
	 	
                Trust Company Complex

              
	 	
                Ajeltake Road

              
	 	
                Ajeltake Island

              
	 	
                Majuro MH96960

              
	 	
                Marshall Islands

              
	 	 
	 	
                and

              
	 	 
	 	
                SEANERGY SHIPMANAGEMENT CORP.

              
	 	
                Trust Company Complex

              
	 	
                Ajeltake Road

              
	 	
                Ajeltake Island

              
	 	
                Majuro MH96960

              
	 	
                Marshall Islands

              

      

       

      

      11 January 2022

       

      Dear Sirs

       

      Facility agreement dated 11 September 2015 (as amended and/or supplemented by a supplemental agreement dated 3 June 2016, a supplemental letter agreement dated 29 July 2016, a supplemental letter
        agreement dated 7 March 2017, a supplemental letter agreement dated 25 September 2017, a supplemental letter agreement dated 30 April 2018 and a supplemental letter agreement dated 10 October 2018, as amended and/or restated by a deed of accession,
        amendment and restatement dated 22 November 2018 and as further amended and/or supplemented by a supplemental agreement dated 3 July 2019, a supplemental agreement dated 8 February 2021, the “Facility Agreement”) made between, amongst others, (i)
        Premier Marine Co. and Fellow Shipping Co. (the “Owner”) as joint and several borrowers (together, the “Borrowers”), (ii) Seanergy Maritime Holdings Corp. as guarantor and (iii) UniCredit Bank AG as original lender (the “Lender”) pursuant to which
        the Lender has made available to the Borrowers a facility of up to $52,704,790

      

      

      We refer to the Facility Agreement.  Words and expressions defined in the Facility Agreement shall have the same meaning when used in this letter unless the context otherwise requires.

       

      Following a request by the Borrowers, we have agreed to the appointment Seanergy Shipmanagement Corp., a company incorporated in the Republic of the Marshall Islands whose registered address is at Trust Company
        Complex, Ajeltake Road, Ajeltake Island, Majuro, MH96960, Marshall Islands (the “Technical Manager”) as technical manager of m.v. “FELLOWSHIP” with IMO number 9522099 (the “Ship”)

        in place of V.Ships Limited with effect from 17 June 2021 (the “Effective Date”).  From the Effective Date, all references to the “Approved Manager” in the Facility Agreement and the other Finance Documents
        shall be construed as references to include the Technical Manager.

       

      
        
          

      

      
      We hereby confirm our approval to these arrangements, subject to receipt of the following documents in form and substance as may be approved or required by us on or before the signature hereof:

       

      	(a)	
              a Manager’s Undertaking executed by the Technical Manager in respect of the Ship;

            

       

      	(b)	
              a copy of the management agreement executed by the Technical Manager in respect of the Ship certified as true and in effect by a director of the Owner;

            

       

      	(c)	
              a copy of the Technical Manager’s Document of Compliance issued by the authorities of the Republic of the Marshall Islands certified as true and in effect by a director of the Owner;

            

       

      	(d)	
              a copy of the Safety Management Certificate issued pursuant to the ISM Code in respect of the Ship certified as true and in effect by a director of the Owner;

            

       

      	(e)	
              a copy of the ISSC issued pursuant to the ISPS Code in respect of the Ship certified as true and in effect by a director of the Owner;

            

       

      	(f)	
              a certificate of incumbency issued by a director or officer of the Technical Manager confirming the names of the directors and/or officers of the Technical Manager;

            

       

      	(g)	
              a Manager’s Undertaking executed by V.Ships Limited in respect of the Ship; and

            

       

      	(h)	
              a copy of the management agreement executed by V.Ships Limited in respect of the Ship certified as true and in effect by a director of the Owner.

            

       

      This letter may be executed in any number of counterparts, and this has the same effect as if the signatures on the counterparts were on a single copy of this letter.

       

      This letter and any non-contractual obligations arising out of or in connection with it shall be governed by, and construed in accordance with, English law and the courts of England shall have exclusive jurisdiction
        in relation to all matters which may arise out of or in connection with this letter and any non-contractual obligations arising out of or in connection with it.

       

      Please confirm your agreement by signing the acknowledgement below.

       

      Yours faithfully

       

      	
              /s/ Ute Haverkamp

            	
              /s/ Gotthardt-Senk

            
	 	 
	
              Ute Haverkamp

            	
              Gotthardt-Senk

            
	
              for and on behalf of

            	 
	
              UNICREDIT BANK AG

            	 

      

      

      
        2

        
          

      

      We hereby acknowledge receipt of the above letter and confirm our agreement to the terms hereof.

       

      	
              /s/ Stavros Gyftakis

            	 	
              /s/ Stavros Gyftakis

            
	
              

              

            	 	
              

              

            
	
              Stavros Gyftakis

            	 	
              Stavros Gyftakis

            
	 	 	 
	
              for and on behalf of

            	 	
              for and on behalf of

            
	
              FELLOW SHIPPING CO.

            	 	
              PREMIER MARINE CO.

            

      

      

      	
              /s/ Stavros Gyftakis

            
	 
	
              

              

            	 
	
              Stavros Gyftakis

            
	 
	
              for and on behalf of

            
	
              SEANERGY MARITIME HOLDINGS CORP.

            
	 
	
              Date: 11 Janaury 2022

            

      

      

      

      

      3

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