Document:

EX-10.1

 Exhibit 10.1 
  

			
	 

		 Bottomline Technologies

325 Corporate Drive
 Portsmouth, NH
03801
 P 603.436.0700

  

	
	June 26, 2015

 Mr. Kevin Donovan 
 32
Paul E. Robitaille Way 
 North Attleboro, MA 02760 
 Dear
Kevin, 
 It is my sincere privilege to thank you for the contribution you have made to Bottomline over the past 16 years. I wish you the
very best as you start your new business. As we have discussed, I appreciate your willingness to assist Bottomline during the coming fiscal year. 

During fiscal 2016, you will serve as a Special Advisor to Bottomline, performing such functions and services as reasonably requested. In
consideration, Bottomline agrees that any restricted stock that you received under Stock Incentive Plans will continue to vest during fiscal 2016 in accordance with the applicable Restricted Stock Agreement(s) in effect between you and Bottomline. I
have every confidence this will work out well, but just in case, either party may terminate this letter agreement upon 90 days written notice. 

I wish you all the best in your next professional chapter. At the same time I am appreciative of the fact that we will continue to benefit
from your experience and knowledge. 
  

	
	Sincerely,
	
	/s/ Rob Eberle
	
	Rob Eberle
	President and Chief Executive Officer
	Bottomline Technologies, Inc.

 Agreed and Confirmed: 
  

			
	By:		/s/ Kevin Donovan
	Kevin Donovan

 Date: June 30, 2015Exhibit 10.1

 

MASTER AGREEMENT

 

THIS AGREEMENT is dated June 26, 2015 (the
“Agreement”)

 

BETWEEN:

 

		(1)	Fuzhou Honglong Ocean Fishery Co., Ltd., a company incorporated under the laws of China and having
its office at Floor 17th , Fujian Galaxy Garden Hotel, #243, Wusi Road, Fuzhou, PRC (“Seller”); and

 

		(2)	Pingtan Marine Enterprise Ltd., a company incorporated under the laws of the Cayman Islands and
having its office at 18/F, Zhongshan Building A, No. 154 Hudong Road, Fuzhou, PRC 350001 (“Buyer”)(the Seller and the
Buyer together, the “Parties”).

 

WHEREAS:

 

		(A)	The Seller is the sole legal and beneficial owner of each of the Vessels (as defined below).

 

		(B)	The Seller has agreed to sell, and the Buyer has agreed to buy, each of the Vessels.

 

		(C)	The Parties have agreed to enter into this Agreement setting out (a) the terms and conditions on
which the Seller shall enter into memoranda of agreement to sell and deliver each of the Vessels to the Buyer and (b) the further
terms and conditions on which the Vessels shall be sold and purchased.

 

IT IS AGREED as follows:

 

		1.	DEFINITIONS

 

		1.1	In this Agreement (including the Recitals above):

 

“Buyer’s Account”
means the Buyer’s bank account for which wire instructions are provided in Exhibit A.

 

“Deposit” shall have
the meaning given in Clause 4 (Deposit).

 

“MOA” means, in relation
to a Vessel, the memorandum of agreement to be entered into between the Seller and the Buyer in relation to the sale, purchase
and delivery of the relevant Vessel in the form set out in Schedule 2 to this Agreement (together, “MOAs”), as amended,
supplemented and varied by the terms of this Agreement.

 

“Purchase Price” shall
have the meaning given in Clause 3. The Purchase Price is set forth in both U.S. Dollars (“USD” or “$”)
and Chinese Renminbi (“RMB”) at an exchange rate based on the People’s Bank of China’s middle rate as of
June 23, 2015 (1 USD = 6.1119 RMB).

 

“Seller’s Account”
means the Seller’s bank account for which wire instructions are provided in Exhibit B.

 

    	 

    	 

    

  

“Vessels” means the vessels
listed at Schedule 1 to this Agreement.

 

		2.	PURCHASE AND DELIVERY OF VESSELS

 

		2.1	The Seller and Buyer hereby agree that each MOA shall upon execution of this Agreement be deemed
entered into and effective on the terms and conditions set out in such MOA, as amended, supplemented and varied as follows:

 

		(a)	the vessel details under each MOA (as are to be set out at lines 4-10 of each MOA) shall be as
set out in Schedule 1 to this Agreement;

 

		(b)	the Seller shall (notwithstanding the terms of each relevant MOA) tender a notice of readiness
for delivery for each Vessel on the same date, and delivery and acceptance of each Vessel shall occur on a simultaneous basis;

 

and as otherwise amended, supplemented
and varied under the terms of this Agreement (including without limitation Clause 3 below). For the avoidance of doubt, each MOA
shall be read and construed subject to the terms and conditions of this Agreement, and in the event of any inconsistency between
the terms of this Agreement and the MOAs (or any of them), the terms of this Agreement shall prevail.

 

		3.	PURCHASE PRICE

 

		3.1	The purchase price for the Vessels shall be as follows (the “Purchase Price”):

 

$37.7 Million (RMB 230,600,000) in
[cash consideration] to be paid by Buyer to Seller’s Account per the payment terms set forth in Clause 4.

 

		4.	DEPOSIT

 

		4.1	As security for the correct fulfillment of this Agreement the Buyer shall (i) send a deposit of
the amount of the Purchase Price (the “Deposit”) to Seller on or prior to June 26, 2015.

 

		5.	PAYMENT

 

		5.1	Notwithstanding any term(s) of the MOAs, the Purchase Price shall be paid by the Buyer to the Seller
as follows:

 

		(a)	In exchange for and always subject to delivery of the Vessels and each of the delivery documents
required to be provided by the Seller to the Buyer (or their guaranteed nominee) under Clause 5 of the MOAs (the “Closing”),
the Deposit shall be released to the Seller; and

 

		(b)	the balance of the Purchase Price and all other sums payable on delivery by the Buyer to the Seller
under this Agreement shall be paid in full free of bank charges to the Seller’s Account upon Closing.

 

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		6.	VESSEL NET PROFITS

 

		6.1	During the time period between the Signing and the Closing, the Buyer shall be entitled to 100%
of the net profits (the gross profits minus the costs and expenses, including the tax payable all as determined in accordance with
us generally accepted accounting principles) reported by each of the Vessels (the “Net Profits”).

 

		6.2	The Net Profits shall be paid by Seller to Buyer on a monthly basis in arrears in full free of
bank charges to the Buyer’s Account.

 

		7.	TOTAL LOSS, MAJOR CASUALTY AND FORCE MAJEURE

 

		7.1	Should any Vessel become a total loss as provided in the relevant MOA, the purchase price of such
Vessel, as set out in Schedule 1 to this Agreement shall be deducted from the Purchase Price and proportionate part of the Deposit
shall be returned to the Buyer upon release of the Deposit amount in accordance with Clause 5.

 

		7.2	Should any Vessel become a total loss as provided in the relevant MOA, this Agreement and the other
MOAs shall continue in full force and effect.

 

		7.3	No Party shall be liable if it is delayed or prevented from performing its obligations under this
Agreement by Force Majeure. Force Majeure means acts of nature, fire, earthquake, war and political turmoil, and any other event
that is beyond the party’s reasonable control and cannot be prevented with reasonable care. When the event of Force Majeure
arises, the affected party shall inform the other Parties within 15 business days. The affected party which does not perform the
obligations under this Agreement shall be responsible for any damage caused by failure of informing other parties. After the event
of Force Majeure is removed, the affected party shall resume performance of this Agreement with its best efforts.

 

		8.	NOMINATION FOR DELIVERY

 

		8.1	The Buyer under each MOA shall have the option (such option to be declared no later than the date
hereof ) to nominate a fully guaranteed nominee to receive transfer of title of a Vessel (including execute a protocol of delivery
and acceptance), but such nomination shall not in any way whatsoever relieve the Buyer of their primary obligation as the Buyer
under this Agreement and under each MOA, including, without limitation, their obligation to take delivery of the Vessel and pay
the Purchase Price.

 

		9.	REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS

 

		9.1	The Seller represents and warrants to the Buyer that the Seller has full power and authority to
become a party to this Agreement and each MOA, and the Seller has taken all necessary action and has obtained all consents, licences
and approvals required in connection with the entry into and performance of this Agreement and each MOA, including, but not limited
to, the sale and delivery of the Vessels on the term of this Agreement and each MOA.

 

    	- 3 -

    	 

    

  

		9.2	The Buyer represents and warrants to Seller that the Buyer has full power and authority to become
a party to this Agreement and each MOA, and the Buyer has taken all necessary action and has obtained all consents, licences and
approvals required in connection with the entry into and performance of this Agreement and each MOA, including, but not limited
to, the purchase and acceptance of the Vessels on the terms of this Agreement and each MOA.

 

		9.3	The Seller represents and warrants that each Vessel at the time of delivery is free from all charters,
encumbrances, mortgages and maritime liens or any other debts whatsoever, and is not subject to Port State or other administrative
detentions. The Seller hereby undertakes to indemnify the Buyer against all consequences of claims made against the Vessel which
have been incurred prior to the time of delivery.

 

		9.4	The Seller represents and warrants that each Vessel at the time of delivery has all permits and
governmental approvals needed to operate such Vessel and that such permits and approvals can be transferred to Buyer in connection
with the transfer of the Vessel to Buyer.

 

		9.5	The Seller represents and warrants that the Vessel is in all material respects fit for the purpose
for which it is currently employed and comply with all present laws and regulations applicable for such purpose.

 

		10.	ASSISTANCE WITH REGISTRATION

 

		10.1	The Seller agrees and undertakes with the Buyer to provide the Buyer (or their relevant nominee)
with all reasonable assistance required by the Buyer in relation to the re-registration of each of the Vessels under PRC flag in
the name of the Buyer (or their nominee).

 

		11.	INDEMNIFICATION AND TERMINATION

 

		11.1	Indemnification

 

From and after the closing, Seller
agrees to pay and to indemnify fully, hold harmless and defend Buyer and its affiliates, and their respective agents, directors,
officers, employees, consultants, representatives, successors and assigns from and against any and all damages arising out of,
relating to or based upon any breach by Seller of the Agreement or the MOUs, including the breach of any of the representations
and warranties contained in Clause 9.

 

		11.2	Buyer’s Default

 

Should the Deposit not be lodged
in accordance with Clause 4 (Deposit), the Seller have the right to cancel this Agreement, and shall be entitled to claim compensation
for its losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause
5 (Payment), the Seller has the right to cancel this Agreement, in which case the Deposit together with interest earned, if any,
shall be released to the Seller. If the Deposit does not cover its loss, the Seller shall be entitled to claim further compensation
for their losses and for all expenses incurred together with interest.

 

    	- 4 -

    	 

    

  

		11.3	Seller’s Default

 

Should the Seller materially breach
its obligations under this Agreement, including, but not limited to the delivery of a majority of the Vessels, the Buyer shall
have the option of cancelling this Agreement and shall be entitled to claim compensation for its losses and for all expenses incurred
together with interest. In the event that the Buyer elects to cancel this Agreement, the Deposit together with interest earned,
if any, shall be released to Buyer immediately. If the Deposit does not cover Buyer’s loss, the Buyer shall be entitled to
claim further compensation for their losses and for all expenses incurred together with interest.

 

		12.	TAX

 

		12.1	The Seller acknowledges and agrees that notwithstanding any other term of this Agreement and/or
the MOAs, the Purchase Price is inclusive of any and all value added, export, sales, income, earnings or other tax and/or duty
(or equivalent thereof) payable to PRC taxation authority or other authorities under or in connection with the sale and purchase
and/or delivery of the Vessels, in accordance with this Agreement and/or the MOAs.

 

		12.2	The Seller shall indemnify and hold harmless the Buyer (and, if relevant, their nominee) upon their
first written demand against any value added, export, sales, income, earnings or other tax and/or duty (or equivalent thereof),
charged or imposed by any PRC taxation authority or other authorities on the Buyer (or their nominee) under or in connection with
the sale and purchase, or delivery of the Vessels, in accordance with this Agreement and/or the MOAs.

 

		13.	COUNTERPARTS

 

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

 

		14.	GOVERNING LAW AND ARBITRATION

 

		14.1	This Agreement shall be governed by and construed in accordance with Title 9 of the United States
Code and the substantive law (not including the choice of law rules) of the State of New York and any dispute arising out of or
in connection with this Agreement shall be referred to three (3) persons at New York, one to be appointed by each of the parties
hereto, and the third by the two so chosen; their decision or that of any two of them shall be final, and for the purposes of enforcing
any award, judgment may be entered on an award by any court of competent jurisdiction. The proceedings shall be conducted in accordance
with the rules of the Society of Maritime Arbitrators, Inc.

 

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		14.2	In cases where neither the claim nor any counterclaim exceeds the sum of US$ 100,000 the arbitration
shall be conducted in accordance with the Shortened Arbitration Procedure of the Society of Maritime Arbitrators, Inc.

 

    	- 6 -

    	 

    

  

IN WITNESS WHEREOF, this Agreement has been
duly executed on the date first above written.

 

	 	By:	/s/ Tiqi Gao
	 	 	for and on behalf of
	 	 	Fuzhou Honglong Ocean Fishery Co., Ltd.
	 	 	 
	 	By:	/s/ Xinrong Zhuo
	 	 	for and on behalf of
	 	 	Pingtan Marine Enterprise Ltd.

 

[Signature Page to Master Agreement]

 

    	- 7 -

    	 

    

  

SCHEDULE 1

 

VESSELS

 

    	- 8 -

    	 

    

  

SCHEDULE 2

 

FORM OF MOA

 

FORM OF MEMORANDUM OF AGREEMENT

 

Date: June 26, 2015

 

Fuzhou Honglong Ocean Fishery Co., Ltd., hereinafter
called the “Seller”, has agreed to sell, and

 

Pingtan Marine Enterprise Ltd., hereinafter
called the “Buyer”, has agreed to buy:

 

Name of Vessel:FU YUAN YU 008

 

IMO Number:

 

Classification Society:

 

Class Notation:3500001984040001

 

Year of Build:1984-04-09                        Builder/Yard:Jin
Zhi shipyard

 

Flag:CHINA               Place of Registration:Fuzhou               GT/NT:580/191

 

hereinafter called the “Vessel”,
on the following terms and conditions:

 

Definitions:

 

“Buyer’s Nominated Flag State”
means the PRC

 

“Class” means the class notation
referred to above.

 

“Classification Society” means
the Society referred to above.

 

“In writing” or “written”
means a letter handed over from the Seller to the Buyer or vice versa, a registered letter, e-mail or telefax.

 

“Master Agreement” means that certain
Master Agreement dated June 26, 2015 entered into by and between the Parties.

 

“Parties” means the Seller and
the Buyer.

 

“Purchase Price” means the price
for the Vessel as stated in Clause 1 (Purchase Price).

 

    	- 9 -

    	 

    

  

Date: June 26, 2015

 

Fuzhou Honglong Ocean Fishery Co., Ltd., hereinafter
called the “Seller”, has agreed to sell, and

 

Pingtan Marine Enterprise Ltd., hereinafter
called the “Buyer”, has agreed to buy:

 

Name of Vessel:FU YUAN YU 009

 

IMO Number:

 

Classification Society:

 

Class Notation:3500001978040001

 

Year of Build:1978-04-28               Builder/Yard:Jin
Zhi shipyard

 

Flag:CHINA                Place
of Registration:Fuzhou                GT/NT:495/203

 

hereinafter called the “Vessel”,
on the following terms and conditions:

 

Definitions:

 

“Buyer’s Nominated Flag State”
means the PRC

 

“Class” means the class notation
referred to above.

 

“Classification Society” means
the Society referred to above.

 

“In writing” or “written”
means a letter handed over from the Seller to the Buyer or vice versa, a registered letter, e-mail or telefax.

 

“Master Agreement” means that certain
Master Agreement dated June 26, 2015 entered into by and between the Parties.

 

“Parties” means the Seller and
the Buyer.

 

“Purchase Price” means the price
for the Vessel as stated in Clause 1 (Purchase Price).

 

    	- 10 -

    	 

    

  

Date: June 26, 2015

 

Fuzhou Honglong Ocean Fishery Co., Ltd., hereinafter
called the “Seller”, has agreed to sell, and

 

Pingtan Marine Enterprise Ltd., hereinafter
called the “Buyer”, has agreed to buy:

 

Name of Vessel:FU YUAN YU 010

 

IMO Number:

 

Classification Society:

 

Class Notation:3500001980060002

 

Year of Build:1980-06-15               Builder/Yard:Teng
Xin shipyard

 

Flag:CHINA                Place
of Registration:Fuzhou                GT/NT:590/204

 

hereinafter called the “Vessel”,
on the following terms and conditions:

 

Definitions:

 

“Buyer’s Nominated Flag State”
means the PRC

 

“Class” means the class notation
referred to above.

 

“Classification Society” means
the Society referred to above.

 

“In writing” or “written”
means a letter handed over from the Seller to the Buyer or vice versa, a registered letter, e-mail or telefax.

 

“Master Agreement” means that certain
Master Agreement dated June 26, 2015 entered into by and between the Parties.

 

“Parties” means the Seller and
the Buyer.

 

“Purchase Price” means the price
for the Vessel as stated in Clause 1 (Purchase Price).

 

    	- 11 -

    	 

    

  

Date: June 26, 2015

 

Fuzhou Honglong Ocean Fishery Co., Ltd., hereinafter
called the “Seller”, has agreed to sell, and

 

Pingtan Marine Enterprise Ltd., hereinafter
called the “Buyer”, has agreed to buy:

 

Name of Vessel:FU YUAN YU 525

 

IMO Number:

 

Classification Society:

 

Class Notation:3500001982060001

 

Year of Build:1982-06-15               Builder/Yard:Jin
Zhi shipyard

 

Flag:CHINA                Place
of Registration:Fuzhou                GT/NT:652/266

 

hereinafter called the “Vessel”,
on the following terms and conditions:

 

Definitions:

 

“Buyer’s Nominated Flag State”
means the PRC

 

“Class” means the class notation
referred to above.

 

“Classification Society” means
the Society referred to above.

 

“In writing” or “written”
means a letter handed over from the Seller to the Buyer or vice versa, a registered letter, e-mail or telefax.

 

“Master Agreement” means that certain
Master Agreement dated June 26, 2015 entered into by and between the Parties.

 

“Parties” means the Seller and
the Buyer.

 

“Purchase Price” means the price
for the Vessel as stated in Clause 1 (Purchase Price).

 

    	- 12 -

    	 

    

  

		1.	Purchase Price and Payment

 

The Purchase Price is as set forth
in Clause 3 of the Master Agreement and payment of the Purchase Price shall be made in accordance with the terms of Clause 5 of
the Master Agreement.

 

		2.	Inspection

 

		(a)	The Buyer has inspected and accepted the Vessel’s classification records and have accepted
the Vessel following this inspection and the sale is outright and definite, subject only to the terms and conditions of this Agreement.

 

		3.	Spares, bunkers and other items

 

The Seller shall deliver the Vessel
to the Buyer with everything belonging to her on board and on shore. All spare parts and spare equipment including spare tail-end
shaft(s) and/or spare propeller(s)/propeller blade(s), if any, belonging to the Vessel at the time of inspection used or unused,
whether on board or not shall become the Buyer’s property, but spares on order are excluded. Forwarding charges, if any,
shall be for the Buyer’s account. The Seller is not required to replace spare parts including spare tail-end shaft(s) and
spare propeller(s)/propeller blade(s) which are taken out of spare and used as replacement prior to delivery, but the replaced
items shall be the property of the Buyer. Unused stores and provisions shall be included in the sale and be taken over by the Buyer
without extra payment.

 

The Buyer shall take over remaining
bunkers and unused lubricating and hydraulic oils and greases in storage tanks and unopened drums and pay either.

 

“Inspection” in this
Clause 3, shall mean the Buyer’s inspection according to Clause 2 (Inspection), if applicable. If the Vessel is taken over
without inspection, the date of this Agreement shall be the relevant date.

 

		4.	Documentation

 

		(a)	The place of closing: The offices of Buyer at 18/F, Zhongshan Building A, No. 154 Hudong Road,
Fuzhou, PRC 350001.

 

		(b)	In exchange for payment of the Purchase Price the Seller shall provide the Buyer with the following
delivery documents:

 

		(i)	Evidence that all necessary corporate, shareholder and other action has been taken by the Seller
to authorise the execution, delivery and performance of this Agreement;

 

		(i)	A copy of the Seller’s letter to their satellite communication provider cancelling the Vessel’s
communications contract which is to be sent immediately after delivery of the Vessel;

 

    	- 13 -

    	 

    

  

		(ii)	Any additional documents as may reasonably be required by the competent authorities of the Buyer’s
Nominated Flag State for the purpose of registering the Vessel, provided the Buyer notifies the Seller of any such documents as
soon as possible after the date of this Agreement; and

 

		(b)	At the time of delivery the Buyer shall provide the Seller with:

 

		(i)	Evidence that all necessary corporate, shareholder and other action has been taken by the Buyer
to authorise the execution, delivery and performance of this Agreement; and

 

		(c)	If any of the documents listed in Sub-clauses (a) and (b) above are not in the English language
they shall be accompanied by an English translation by an authorised translator or certified by a lawyer qualified to practice
in the country of the translated language.

 

		(d)	The Parties shall to the extent possible exchange copies, drafts or samples of the documents listed
in Sub-clause (a) and Sub-clause (b) above for review and comment by the other party as soon as possible prior to the Vessel’s
intended date of delivery.

 

		(e)	Concurrent with the exchange of documents in Sub-clause (a) and Sub-clause (b) above, the Seller
shall also hand to the Buyer the classification certificate(s) as well as all drawings and manuals, (excluding ISM/ISPS manuals),
which are on board the Vessel. Other certificates which are on board the Vessel shall also be handed over to the Buyer unless the
Seller is required to retain same, in which case the Buyer has the right to take copies.

 

		(f)	Other technical documentation which may be in the Seller’s possession shall promptly after
delivery be forwarded to the Buyer at their expense, if they so request. The Seller may keep the Vessel’s log books but the
Buyer has the right to take copies of same.

 

		(g)	The parties shall sign and deliver to each other a Protocol of Delivery and Acceptance confirming
the date and time of delivery of the Vessel from the Seller to the Buyer.

 

		5.	Encumbrances

 

The Seller warrants that the Vessel,
at the time of delivery, is free from all charters, encumbrances, mortgages and maritime liens or any other debts whatsoever, and
is not subject to Port State or other administrative detentions. The Seller hereby undertakes to indemnify the Buyer against all
consequences of claims made against the Vessel which have been incurred prior to the time of delivery.

 

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		6.	Taxes, fees and expenses

 

Any taxes, fees and expenses in connection
with the purchase and registration in the Buyer’s Nominated Flag State shall be for the Buyer’s account, whereas similar
charges in connection with the closing of the Seller’s register shall be for the Seller’s account.

 

		7.	Condition on Delivery

 

The Vessel with everything belonging
to her shall be at the Seller’s risk and expense until she is delivered to the Buyer, but subject to the terms and conditions
of this Agreement she shall be delivered and taken over as she was at the time of inspection, fair wear and tear excepted.

 

However, the Vessel shall be delivered
free of cargo and free of stowaways with her Class maintained without condition/recommendation, free of damage affecting the Vessel’s
class, and with her classification certificates and national certificates, as well as all other certificates the Vessel had at
the time of inspection, valid and unextended without condition/recommendation by the Classification Society or the relevant authorities
at the time of delivery.

 

“Inspection” in this
Clause 7, shall mean the Buyer’s inspection according to Clause 2 (inspection), if applicable. If the Vessel is taken over
without inspection, the date of this Agreement shall be the relevant date.

 

		8.	Name/markings

 

Upon delivery the Buyer undertakes
to change the name of the Vessel and alter funnel markings.

 

		9.	Law and Arbitration

 

This Agreement shall be governed
by and construed in accordance with Title 9 of the United States Code and the substantive law (not including the choice of law
rules) of the State of New York and any dispute arising out of or in connection with this Agreement shall be referred to three
(3) persons at New York, one to be appointed by each of the parties hereto, and the third by the two so chosen; their decision
or that of any two of them shall be final, and for the purposes of enforcing any award, judgment may be entered on an award by
any court of competent jurisdiction. The proceedings shall be conducted in accordance with the rules of the Society of Maritime
Arbitrators, Inc.

 

In cases where neither the claim
nor any counterclaim exceeds the sum of US$ 100,000 the arbitration shall be conducted in accordance with the Shortened Arbitration
Procedure of the Society of Maritime Arbitrators, Inc.

 

		10.	Notices

 

All notices to be provided under
this Agreement shall be in writing.

 

    	- 15 -

    	 

    

  

Contact details for recipients of
notices are as follows:

 

For the Buyer:

 

Pingtan Marine Enterprise Ltd.

Attn. Roy Yu and Xinrong Zhuo

18/F, Zhongshan Building A

No. 154 Hudong Road, Fuzhou

PRC 350001

 

For the Seller:

 

Fuzhou Honglong Ocean Fishery Co.,
Ltd.

Attn. Tiqi Gao

Floor 17th, Fujian Galaxy Garden Hotel,
#243,

Wusi Road, Fuzhou

PRC 350001

 

		11.	Entire Agreement

 

The written terms of this Agreement
comprise the entire agreement between the Buyer and the Seller in relation to the sale and purchase of the Vessel and supersede
all previous agreements whether oral or written between the Parties in relation thereto.

 

Each of the Parties acknowledges
that in entering into this Agreement it has not relied on and shall have no right or remedy in respect of any statement, representation,
assurance or warranty (whether or not made negligently) other than as is expressly set out in this Agreement.

 

Any terms implied into this Agreement
by any applicable statute or law are hereby excluded to the extent that such exclusion can legally be made. Nothing in this Clause
shall limit or exclude any liability for fraud.

 

    	- 16 -

    	 

    

   

	 	For and on behalf of the Seller
	 	 
	 	/s/ Tiqi Gao
	 	Name: Tiqi Gao
	 	 
	 	Title: Legal Representative 
	 	 
	 	For and on behalf of the Buyer
	 	 
	 	/s/ Xinrong Zhuo
	 	Name:Xinrong Zhuo
	 	 
	 	Title: CEO 

 

    	- 17 -

    	 

    

  

Exhibit A

 

Buyer’s Account

 

    	- 18 -

    	 

    

  

Exhibit B

 

Seller’s Account

 

    	- 19 -

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