Document:

Exhibit 4.31

   

  GSL ENTERPRISES LTD.

   

  and

   

  Georgios Giouroukos

   

  AMENDED AND RESTATED EMPLOYMENT AGREEMENT

   

   

   

    

   

  

   

  

  
   

    

   TABLE OF CONTENTS

   

   

  

  	 	 	

        
	1.	INTERPRETATION	1
	2.	APPOINTMENT	4
	3.	TERM AND NOTICE	4
	4.	DUTIES	5
	5.	SALARY	6
	6.	EXPENSES	7
	7.	BONUS SCHEME	7
	8.	SHARE SCHEMES	7
	9.	HEALTH, LIFE AND MEDICAL INSURANCE	8
	10.	ILLNESS	8
	11.	VACATION DAYS	9
	12.	NON-COMPETITION AGREEMENT	9
	13.	CONFIDENTIAL AND BUSINESS INFORMATION	9
	14.	DATA PROTECTION	11
	15.	[INTENTIONALLY OMITTED]	12
	16.	TERMINATION	12
	17.	SUMMARY TERMINATION	14
	18.	INVENTIONS AND IMPROVEMENTS	16
	19.	GRIEVANCE AND DISCIPLINARY PROCEDURES	18
	20.	GENERAL	18
	21.	NOTICES	19
	22.	EXTENT AND SUBSISTENCE OF AGREEMENT	20
	23.	GOVERNING LAW AND JURISDICTION	20

  

  

  
  
    	 	i	 

  

  
    	 

  

  
   

  AMENDED
      AND RESTATED EMPLOYMENT AGREEMENT BETWEEN

   

  GSL ENTERPRISES LTD. AND GEORGIOS GIOUROUKOS

   

  This Amended and Restated Employment
      Agreement (this “Agreement”) is effective as of the 12th of
      March 2020 (the “Effective Date”) and is made between:

   

  		(1)	GSL ENTERPRISES LTD., whose registered
            office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH 969600 and has established a branch office
            in Greece pursuant to the provisions of art. 25 of Law 27/1975 (former law 89/67) at 3-5, Menandrou Street, Kifisia, Athens, 14561, Greece
            and 9, Irodou Attikou Street, Kifisia, Athens, 14561 Greece (the “Company”); and

   

  		(2)	GEORGIOS GIOUROUKOS, an individual
            residing at 3-5, Menandrou Street, Kifisia, Athens, 14561, Greece, with Greek tax identification number 026811437, issued by the Greek
            tax office of Kifisia, Athens (the “Executive”).

   

  (the “Parties”, each the “Party”)

   

  WHEREAS, the Executive has agreed, as an
    employee of the Company in a senior management position, to oversee and participate in the provision of services to the Company on the
    terms of the Prior Employment Agreement particularly given his appointment as Executive Chairman of the parent company Global Ship Lease,
    Inc., whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH 969600 and the
    address of principal executive offices is at 25 Wilton Road , London SW1V 1LW, United Kingdom and whose common stock has been registered
    pursuant to Section 12(b) of the United States Securities Exchange Act of 1934, as amended, and is listed on the New York Stock Exchange
    under the trading symbol “GSL”, (the “Listed Company”).

   

  WHEREAS, the Parties agree to
    amend and restate the Prior Employment Agreement by entering into this Agreement, which reflects the terms of the Prior Employment Agreement,
    subject to the terms and provisions herein contained.

   

  OPERATIVE PROVISIONS

   

  		1.	INTERPRETATION

   

  1.1 In this Agreement the following words and expressions shall
    have the following meanings:

   

  “the Board” means
    the board of directors of the Company or the Listed Company, as the context may require; references to the “Board of the Listed
      Company” shall mean the Board of Directors of Global Ship Lease, Inc. or if appropriate the compensation committee thereof;

   

  “Change in Control Transaction” means the consummation,
    following the date of the Merger (as defined below), of any of the following

   

  transactions:

  
  
    	 	1	 

  

  
    	 

  

  
  a.
    the acquisition, directly or indirectly, by any individual, partnership, firm, company, association, trust, unincorporated organization
    or other entity (a “Person”), or any Persons acting as a “group” within the meaning of Section I 3(d)(3) of the
    Securities Exchange Act of 1934, as amended (the “Exchange Act”) of beneficial ownership (within the meaning of Rule 13d-3
    of the Exchange Act) (other than the Listed Company or a person that directly or indirectly controls, is controlled by, or is under common
    control with, the Listed Company) of securities of the Listed Company representing more than 50% of the total combined voting power of
    the Listed Company’s then outstanding securities entitled to vote in the election of the directors of the Listed Company (the “Voting
    Shares”);

   

  b. the Listed Company disposing of all or substantially all of
    its assets;

   

  c. 10% or more of the value of the
    assets of the Listed Company, or the Voting Shares of the Listed Company are about to be transferred, or have been transferred, because
    of any taking, seizure, or defeasance as a result of, or in connection with (i) nationalization, expropriation, confiscation, coercion,
    force or duress, or other similar action under the laws of the Republic of the Marshall Islands, or

   

  		(ii)	the imposition by the Republic of the Marshall Islands of
            a confiscatory tax, assessment, or other governmental charge or levy;

   

  d. the merger of the Listed Company
    with or into another corporation or any other transaction in which securities possessing more than 50% of the total combined voting power
    of the Listed Company are transferred to a person or persons different from the persons holding those securities immediately prior to
    such transaction; or

   

  c. the Board by resolution duly adopted
    by the affirmative vote of a simple majority of the votes cast by the Board determines that for the purposes of this Agreement, a Change
    in Control Transaction has occurred; or

   

  f. there is a
    change in boardroom control of the Listed Company. A change in boardroom control for the purpose of this clause shall mean a change in
    the directors of the board of the Listed Company such that the majority of directors on the Board following such change are directors
    who were not directors immediately following the closing of the Mergers.

   

  A transaction
    shall not constitute a Change in Control Transaction if its sole purpose is to change the state of the Listed Company’s incorporation
    or to create a holding company that will be owned in substantially the same proportions by the persons who held the Listed Company’s
    securities immediately before such transactions.

   

  “Good Reason” means
    (a) the assignment to the Executive by the Company or the Listed Company of any duties or responsibilities inconsistent with the Executive’s
    position, including but not limited to, any change in title the effect of which results in the Executive having a lesser status than Executive
    Chairman in the Listed Company, (b) a reduction in the Executive’s base salary, (c) any change in location of the Company’s
    principal administrative office or the Executive’s normal place of work to be outside of Greece, (d) a Change in Control Transaction,
    (e) a Material Transaction or (f) any unilateral adverse/unfavourable variation of the employment terms of the Executive by the Company
    as defined by Greek labour law;

   

  

  
  
    	 	2	 

  

  
    	 

  

  
  “Group
      Company” means the Company, the Listed Company, any company of which the Listed Company is a subsidiary (its holding company)
    and any other subsidiaries of the Listed Company or such holding company;

   

  “Material
      Transaction” means any merger or acquisition (which is not a Change in Control Transaction) which is determined by the Board
    acting reasonably and in good faith to be a material merger or acquisition having a material impact on the ownership structure of the
    Group Companies;

   

  “Merger Agreement”
    means the Agreement and Plan of Merger, dated as of 29 October, 2018, by and among the Listed Company, Poseidon Containers Holdings, LLC,
    K&T Marine, LLC and the other parties named therein.

   

  “Merger” means the consummation of the mergers
    contemplated under the Merger Agreement;

   

  “Prior Employment Agreement” means the employment
    agreement between the Parties dated 1 August 2019;

   

  “Relevant Stock Exchange”
    means the New York Stock Exchange and/or any other stock exchange, recognized investment exchange or automated quotation system on which
    any Group Company or any of their securities, as applicable, is listed, dealt in or admitted for trading;

   

  “Stock Incentive Plan” means any outstanding
    equity incentive plan maintained by a Group Company;

   

  “Subsidiary Company” means any Group Company
    other than the Company and the Listed Company;

   

  “Termination Date”
    means the date of the termination of the employment of the Executive hereunder, howsoever caused; 1.2 In this Agreement (unless the context
    otherwise requires):

  		(A)	any reference to any statute
            or statutory provision shall be construed as including a reference to any modification, re-enactment or extension of such statute or statutory
            provisions of Greek labour law or the law of any other state as may be applicable in the context of the Executive’s employment,
            for the time being in force or to any subordinate legislation made under the same;

   

  		(B)	any reference to a clause is to a clause of this Agreement;

   

  		(C)	the expression “directly or indirectly” means
            (without prejudice to the generality of the expression) either alone or jointly with or on behalf of any other person, firm or body corporate
            and whether on his own account or in partnership with another or others or as the holder of any interest in or as officer, employee or
            agent of or consultant to any other person, firm or body corporate.

   

  

  
  
    	 	3	 

  

  
    	 

  

  
  		1.3 The	headings contained in this Agreement
            are for convenience only and do not form part of and shall not affect the construction of this Agreement or any part of it.

   

  		2.	APPOINTMENT

   

  2.1 The Company has appointed the
    Executive and the Executive agrees to serve the Company as director and President of the Company and shall report to the Board of the
    Listed Company. The Executive has also been appointed as of 15 November 2018 as a director and as of

   

  20 November 2018 as Executive Chairman of the Listed
    Company. The Executive shall be the highest ranking officer of the Company and the Listed Company.

   

  2.2 The Executive warrants that
    by virtue of entering into this Agreement he will not be in breach of any express or implied terms of any contract with or of any other
    obligation to any third party which are binding upon him.

   

  		3.	TERM AND NOTICE

   

  3.1 The terms of this Amended and Restated
    Employment Agreement shall be deemed effective as of the Effective Date but the employment relationship between the Parties has commenced
    as of the date of the Prior Employment Agreement. Subject to the provisions of clause 17, this Agreement shall continue to be effective
    for an indefinite term unless and until terminated by:

   

  		(A)	the Company giving to the Executive not less than 12 months’
            written notice; or

   

  		(B)	the Executive giving to the Company
            not less than 6 months’ written notice, unless Executive’s resignation is for Good Reason in which case the Executive shall
            have given to the Company not less than 14 days’ written notice.

   

  		3.2	Under no circumstance may the
            Executive’s employment be terminated by the Company under clauses 3.1(A) and 17 or otherwise, or placed on paid leave under clause
            19.3, without the affirmative vote of 2/3rds of the members of the Board of the Listed Company.

   

  		3.3	The Company reserves the right
            at any time, in its absolute discretion but always subject to clause 3.2, to terminate the Executive’s employment by paying to the
            Executive a sum equal to his salary and contractual benefits for the relevant period of notice specified in clause 3.1, simultaneously
            with the Severance Payment provided in clause 16.1(A) and the payment of any other amount as provided in clause 16.2.

   

  		3.4	It is expressly agreed that the
            terms of this Agreement relating to the termination of the employment (including without limitation under clauses 3.1(A), 3.2, 3.3 and
            17) shall apply in addition to any rights or benefits provided by the applicable provisions of Greek labour law as in force from time
            to time (including Law 2112/1920 in conjunction with Law 3198/1955 as may be amended or replaced)..

   

  

  
  
    	 	4	 

  

  
    	 

  

  
  		4.	DUTIES

   

  4.1 The Executive shall during the continuance of his employment:

   

  		(A)	exercise such powers and perform such duties in relation to
            the ship-brokerage business of the Company and mainly exercise such powers and perform such duties pertaining to the provision of ship-brokerage
            services by the Company’s branch office in Greece, always in accordance with its establishment license under Law 27/1975;

   

  		(B)	exercise such powers and perform
            such duties in relation to the business of the Company, of the Listed Company or of any Subsidiary Company as may from time to time be
            vested in or assigned to him by the Board, provided always that such new assignments do not constitute a unilateral adverse/unfavourable
            variation of the employment terms;

   

  		(C)	well and
            faithfully serve the Company, the Listed Company and any relevant Subsidiary Companies to the best of his ability and carry out his duties
            with all due care, skill and ability, and use his best endeavors to promote and maintain their interests and reputation;

   

  		(D)	be a director of the Company and act as President thereof,
            and remain in such capacities without any additional remuneration (other than the amounts specified in this Agreement);

   

  		(E)	be a director of the Listed
            Company and act as Executive Chairman thereof, and remain in such capacities without any additional remuneration (other than the amounts
            specified in this Agreement);

   

  		(F)	become a director of Global
            Ship Lease Services Limited and the sole member of the chartering committee of its board of directors, and remain in such capacity without
            any additional remuneration (other than the amounts specified in this Agreement); and

   

  		(G)	have responsibility for the duties set forth on Exhibit
            A hereto.

   

  		4.2	The Executive will serve the
            Company, the Listed Company and any Subsidiary Company in such capacity as the Board shall determine from time to time. In performance
            of his duties the Executive shall:

   

  		(A)	normally perform his duties in
            3-5 Menandrou Street, Kifissia, Athens, 14561 Greece or in 9, Irodou Attikou Street, Kifisia, Athens, 14561 where the Company has an established
            ship-brokerage office pursuant to the provisions of art. 25 of Law 27/1975 (former law 89/67). However, due to the nature of the business
            of the Company and the Listed Company and the Executive’s managerial position, the Executive agrees that he shall be required to
            travel and he may be required from time to time to work at other locations possibly in other countries for temporary periods as the position
            of the Executive may from time to time reasonably require, without such requirement constituting a unilateral adverse variation of the
            employment terms. The Company shall give reasonable notice of such temporary changes of place of work to the Executive;

   

  

  
  
    	 	5	 

  

  
    	 

  

  
  		(B)	devote
            approximately fifty percent (50%) of his working time, skill, ability and attention to the business of the Company and the Listed Company,
            such that he can pursue those permitted activities set forth in section 2.2 of that certain Non-Compete Agreement with the Listed Company
            and ConChart Commercial Inc. effective as of 15 November 2018, as the same may be amended from time to time, (the “Non-Compete Agreement”);

   

  		(C)	in all respects conform to and comply with lawful directions
            and regulations given and made by the Board; and

   

  		(D)	in all respects conform to and
            comply with all relevant rules and/or codes issued by or on behalf of any Relevant Stock Exchange.

   

  		4.3	The Executive shall immediately
            upon the Company’s request supply any and all information which the Listed Company or any other Group Company may reasonably require
            in order to be able to comply with any statutory or regulatory provision or stock exchange rule or requirement of any Relevant Stock Exchange.

   

  		4.4	The Executive shall comply with
            the Company’s, the Listed Company’s or any other Group Company’s health and safety procedure from time to time in force.

   

  		5.	SALARY

   

  5.1 The Company shall pay to the
    Executive by way of remuneration for his services under this Agreement a basic net salary per annum of US Dollars Eighty Thousand ($80,000)
    or the equivalent amount in Euros, at the option of the Executive (the “Basic Net Annual Salary”) inclusive of any
    director’s fees payable to him by the Company, the Listed Company or any other Group Company. If the Company is required to deduct
    or withhold Employment Taxes (as defined below) with respect to the Basic Net Annual Salary, then the Company shall pay to the Executive,
    in addition to the Basic Net Annual Salary payment, such additional amount as is necessary to ensure that the net amount actually received
    by the Executive (after the deduction or withholding of Employment Taxes) equals the Basic Net Annual Salary. As used herein, “Employment
      Taxes” means any applicable withholdings or deductions for, or on account of, any present or future income taxes, employee national
    insurance or social security contributions or other statutory payments of any nature due in respect of his Basic Net Annual Salary and
    any other benefits provided to him by the Company, the Listed Company or any other Group Company provided such withholdings or deductions
    are required by applicable law. The Basic Net Annual Salary shall accrue from day to day and shall be payable in arrears on a 14-month
    basis in accordance with the applicable provisions of Greek employment law (and shall be paid pro rata where the Executive is only employed
    during part of a month). The Basic Net Annual Salary shall be reviewed by (with the outcome of such review being at the absolute discretion
    of) the Board of the Listed Company on or about 1 January in each calendar year without commitment to increase. The Executive’s
    Basic Net Annual Salary shall not be decreased.

   

  

  
  
    	 	6	 

  

  
    	 

  

  
  		5.2 The	Company shall be entitled to deduct from any sums payable
            to the Executive (including salary) such sums as the Executive notifies the Company in writing to pay directly into any personal pension
            scheme of the Executive which is additional to the State’s pension scheme through national insurance contributions.

   

  		5.3	The Executive due to his senior managerial position, is
            not subject to the provisions of Greek labour law which are incompatible with the special position of supervision, management and trust
            he possesses. More specifically, he is not subject to the provisions relating to and will not be entitled to any additional remuneration
            or payment (unless as and to the extent otherwise provided in this Agreement including in particular without limitation clauses 5, 6,
            7 and 11) in respect of working hours, overtime (yperergasia), overtime exceeding maximum working hours (yperoria), work at night, work
            on any banking or public holiday, work on the sixth day of the week or on Sundays, Christmas or Easter bonuses, annual leave allowance
            etc. In any event, if any claim in respect of the above exists or arises, or if there is any additional right, amount or benefit provided
            by any collective bargaining agreement, such right or claim shall be set off with the amounts that the Executive receives under this Agreement
            to the fullest extent permitted by the law.

   

  		6.	EXPENSES

   

  The Company shall reimburse the Executive
    all reasonable traveling, hotel, entertainment and other out of pocket expenses incurred by him in or about the performance of his duties
    under this Agreement subject to his compliance with the Company’s and the Listed Company’s then current guidelines, if any,
    relating to expenses and to the production, if required, of receipts, vouchers or other supporting documents.

   

  		7.	BONUS SCHEME

   

  The Executive will be entitled to participate in any contractual
    bonus scheme or schemes established from time to time by the Company, the Listed Company or any other Group Company for executives of
    equivalent status to the Executive, subject always to the rules of those schemes. Any agreement which shall contractually determine the
    terms pursuant to which the Executive shall be entitled to bonus payments out of the profits of the Company in accordance with the provisions
    of Law 4111/2013, art. 43 para.5 shall be hereafter referred to as the “Bonus Scheme Agreement”.

   

  		8.	SHARE SCHEMES

   

  The Executive will be entitled to participate
    in such share schemes as the Company or the Listed Company or any other Group Company may operate upon such terms as the Board may from
    time to time determine and subject always to the rules and eligibility requirements of the scheme or schemes from time to time in force.

   

  

  
  
    	 	7	 

  

  
    	 

  

  
  		9.	HEALTH,
              LIFE AND MEDICAL INSURANCE

   

  9.1 The Executive shall during his employment be entitled to
    participate in any Group Company’s:

   

  		(A)	permanent health insurance scheme; and

   

  		(B)	arrangements for private medical
            treatment or medical health insurance including spouse or partner or anyone living as such and dependent children under the age of 21
            years; and

   

  		(C)	life assurance (together the “Insurance Schemes”)

   

  operated from time to time by or for the Listed Company
    for the benefit of employees of the Listed Company or any other Group Company of equivalent status to the Executive, subject to any applicable
    rules and conditions of the Insurance Schemes. To the extent that there is any disparity between the rules and conditions of the relevant
    Insurance Scheme and the terms of this Agreement the relevant scheme rules and conditions shall prevail. The Listed Company shall not
    have any liability to pay any benefit to the Executive (or any family member) under any Insurance Scheme unless it receives payment of
    the benefit from the insurer under the scheme and shall not be responsible for providing the Executive (or any family member) with any
    benefit under an Insurance Scheme in the event that the relevant insurer refuses for whatever reason to pay or provide or to continue
    to pay or provide that benefit to the Executive (or family member).

   

  		9.2	Any Insurance Scheme which is
            provided for the Executive is also subject to the Listed Company’s right to alter the cover provided or any term of that scheme
            or to cease to provide (without replacement) the scheme at any time if in the opinion of the Board (after the Executive has been examined
            by a medical practitioner nominated by the insurers or by the Listed Company) the state of the Executive’s health is or becomes
            such that the Listed Company is unable to insure the benefits under the scheme at the normal premiums applicable to a person of the Executive’s
            age.

   

  9.3       No
      contracting out certificate is in force in relation to this employment.

   

  		10.	ILLNESS

   

  10.1 In the event of illness or
    other incapacity beyond his control as a result of which he is unable to perform his duties, the Executive shall remain entitled to receive
    his salary in full for any continuous period of 3 months or an aggregate period of 90 days’ absence in any consecutive 12 month
    period subject to:

   

  		(A)	compliance with the Company’s procedures relating to
            sickness notification, statutory sick pay and self-certification to cover absence from work due to sickness or other incapacity and to
            the provision of medical certificates and/or (at the Company’s discretion) undergoing a medical examination by a doctor appointed
            by the Company. The Executive shall co-operate in ensuring the prompt delivery of such report to the Company and authorize his own medical
            practitioner to supply all such information as may be required by that doctor and, if so requested by the Company, authorize his medical
            practitioner to disclose to the Company his opinion of the Executive’s state of health;

   

  

  
  
    	 	8	 

  

  
    	 

  

  
  		(B)	a
            deduction (at the Company’s discretion) from his salary of an amount or amounts equal to any statutory sick pay or social security
            benefits to which the Executive is entitled; and

   

  		(C)	a deduction (at the Company’s
            discretion) from his salary of an amount or amounts equal to any payment made to the Executive under any health insurance arrangements
            effected from time to time by the Company and/or any Group Company on his behalf.

   

  		11.	VACATION DAYS

   

  11.1 The Executive, despite his
    senior management position, shall be entitled to 25 working days of vacation (in addition to the official public holidays in Greece) in
    each calendar year commencing on 1 January in each year (which shall accrue on a monthly basis). Holidays shall be taken at such times
    as are reasonable and convenient having regard to the requirements of the Company’s business.

   

  11.2 If at the end of the calendar
    year the Executive has accrued vacation entitlement which he has not used he shall be entitled to carry forward an absolute maximum of
    up to 10 days into the following calendar year.

   

  11.3 The Company reserves the right,
    at its absolute discretion, to require the Executive to take any outstanding vacation days during any notice period.

   

  11.4 On termination of the Executive’s
    employment (howsoever occasioned), if the Executive has taken more or less than his annual vacation entitlement an appropriate adjustment
    shall be made to any payment of salary or benefits from the Company to the Executive. In this event the calculation shall be made on the
    basis that each day of vacation is worth 1/260 of his basic salary as set out in clause 5.1.

   

  		12.	NON-COMPETITION AGREEMENT

   

  12.1 The Executive shall be bound by the Non-Compete Agreement.

   

  		13.	CONFIDENTIAL AND BUSINESS INFORMATION

   

  13.1 In addition to and without prejudice
    to the Executive’s obligations to keep information secret under applicable law, the Executive shall not (except for the purpose
    of performing his duties hereunder or unless ordered to do so by a court of competent jurisdiction) either during his employment or after
    its termination directly or indirectly use, disclose or communicate Confidential and Business Information and he shall use his best endeavors
    to prevent the improper use, disclosure or communication of Confidential and Business Information:

   

  

  
  
    	 	9	 

  

  
    	 

  

  
  		(A)	concerning
            the business of the Company, the Listed Company or any other Group Company and which comes to the Executive’s attention during the
            course of or in connection with his employment or provision of services to the Company, the Listed Company or any other Group Company
            from any source within the Company, the Listed Company or any other Group Company; or

   

  		(B)	concerning the business of any
            person having dealings with the Company, the Listed Company or any other Group Company and which is obtained in circumstances in which
            the Company, the Listed Company or any other Group Company is subject to a duty of confidentiality in relation to that information.

   

  13.2       For
      the purposes of clause 13.1, Confidential and Business Information means:

   

  		(A)	any information of a confidential
            nature (whether trade secrets, other private or secret information including secrets and information relating to corporate strategy, business
            development plans, product designs, intellectual property, business contacts, terms of business with customers and potential customers
            and/or suppliers, annual budgets, management accounts and other financial information); and/or

   

  		(B)	any confidential report or research
            undertaken by or for the Company, the Listed Company or any other Group Company before or during the course of the Executive’s employment;
            and/or

   

  		(C)	lists or compilations of the
            names and contact details of the individuals or clients and counterparts with whom the Company, the Listed Company or any other Group
            Company transacts business; and/or

   

  		(D)	the previous 18 months’
            financial results of any individual part of the business of the Company, the Listed Company or any other Group Company; and/or

   

  		(E)	details of all computer systems
            and/or data processing or analysis software developed by the Company, the Listed Company or any other Group Company; and/or

   

  		(F)	details of the requirements, financial
            standing, terms of business and dealings with any Company, the Listed Company or any other Group Company of any client of the Company,
            the Listed Company or any other Group Company; and/or

   

  		(G)	contact details of all employees
            and directors of the Company, the Listed Company or any other Group Company together with details of their remuneration and benefits;
            and/or

   

  		(H)	information so designated by
            the Company, the Listed Company or any other Group Company or which to the Executive’s knowledge has been supplied to the Company,
            the Listed Company or any other Group Company subject to any obligation of confidentiality.

   

  

  
  
    	 	10	 

  

  
    	 

  

  
  		13.3 The	restrictions contained in this clause 13 shall cease to apply with respect to any information which would
          otherwise have been Confidential and Business Information but which comes into the public domain or is otherwise in the possession of
          Executive’s affiliates other than through an unauthorized disclosure by the Executive or a third party.

   

  		13.4	The obligations of the Executive under this clause 13 shall continue to apply after the termination of
          the Executive’s employment (howsoever terminated).

   

  		14.	DATA PROTECTION

   

  14.1 The Parties hereby confirm
    and agree that they are committed to complying with the principles and requirements of the EU General Data Protection Regulation (GDPR).

   

  14.2 The Executive hereby acknowledges that:

   

  		(A)	the Company will collect and process
            information about the Executive, such as the Executive’s name and contact details as well as more sensitive information, for various
            purposes in connection with the Executive’s employment, including to manage benefits and payments, to manage expenses, to manage
            recruitment and on-boarding, to manage absences, for security purposes, to handle claims and disciplinary actions, to monitor performance
            and use of the IT systems, to conduct certain background checks and to comply with the Company’s legal obligations;

   

  		(B)	the Company will collect from
            the Executive and store personal data about the Executive’s next of kin, such as their name and contact details, for use in emergency
            situations, and the Executive agrees that he has informed such individuals that their details have been provided to the Company;

   

  		(C)	the Company may pass the Executive’s information to
            third parties such as the Executive’s previous employers, companies for which the Executive provided services, public authorities,
            law enforcement agencies, fraud prevention agencies and regulators who use it in connection with the purposes set out above. The Company
            may also pass the Executive’s information to third party agents who handle it on behalf of the Company; and/or

   

  		(D)	depending on the circumstances,
            the Company’s use of personal data may involve a transfer of data outside the EU (and the European Economic Area).

   

  		14.3	The Listed Company’s privacy notice, which shall also be applicable to the employment of the Executive
          by the Company gives more details of the personal information about the Executive and the Executive’s next of kin that the Company
          collects and processes. The Executive confirms that the he has read the notice. The privacy notice does not form part of the terms and
          conditions of the Employment, and the Company reserves the right to amend it from time to time and to update the uses of personal data
          listed above and in the privacy notice.

   

  

  
  
    	 	11	 

  

  
    	 

  

  
  		14.4 The	Executive shall comply with Company,
            the Listed Company and other Group Company policies relating to data privacy when handling personal data in the course of the employment,
            including personal data relating to any employee, customer, client, supplier or agent of the Company. The Executive will also comply with
            the Company, the Listed Company and other Group Company policies from time to time in place relating to IT and communications systems,
            use of social media and other policies as included from time to time.

   

  		14.5	Failure to comply with Company, the Listed Company and other Group Company policies
          relating to data privacy or any of the policies listed above in clause 14.3 may be dealt with under the Company’s disciplinary procedure
          and, in serious cases, may be treated as gross misconduct leading to summary dismissal.

   

  		15.	[INTENTIONALLY OMITTED]

   

  		16.	TERMINATION

   

  16.1 If the Executive resigns for
    Good Reason, or the Company terminates Executive’s employment for any reason whatsoever other than for Cause (as defined below in
    clause 17.1):

   

  		(A)	the Executive will (subject
            to clause 16.3), be entitled to receive within 7 days of the Termination Date a net severance payment (the “Severance Payment”)
            of an amount equal to:

   

  		(i)	his latest Basic Net Annual Salary; and

   

  		(ii)	the “Performance Bonus” (as defined in the applicable
            Bonus Scheme Agreement); and

   

  		(iii)	any “Additional
            Bonus” (as defined in the applicable Bonus Scheme Agreement) that the Executive had been awarded for the year preceding the termination
            of the Executive’s employment under this clause 16.1, prorated daily on the basis of the days for which the Executive was employed
            during the year of his termination; and

   

  		(iv)	the cost to the Company of the
            provision of contractual benefits to the Executive for 12 months following the Termination Date.

   

  To the extent that the above amounts exceed and cover the
    statutory severance payment provided by Greek labour law (pursuant to Law 2112/1920 in conjunction with Law 3198/1955), it is clarified
    that the Executive shall not be entitled to receive such statutory severance payment. In any event, it is expressly agreed and accepted
    by the Executive that any statutory severance entitlement under Greek labour law shall be set-off against the Severance Payment agreed
    in this clause 16.1.

   

  

  
  
    	 	12	 

  

  
    	 

  

  
  		(B)	In
            addition, the Company shall use reasonable endeavors to procure that (i) the Executive receives the full benefit of any awards under the
            Stock Incentive Plan and/or any Cash Award Agreement (including, without limitation, any acceleration of vesting or extension of the post-termination
            exercise term of the Executive’s awards as provided for in the applicable award agreement) and (ii) he is treated as being a “Good
            Leaver” (as defined in the relevant scheme(s) and subject always to the rules and provisions of such scheme(s)) for the purposes
            of any other applicable bonus or incentive scheme (besides the Stock Incentive Plan) which is operated by the Company, the Listed Company
            or any other Group Company from time to time and in which the Executive is participating as at the Termination Date.

   

  		16.2	For the avoidance of doubt, any Severance Payment payable
            under clause 16.1 shall be in addition to any payments, rights or benefits accrued in respect of services already provided, including,
            without limitation, (a) any Basic Net Annual Salary paid, and provision of contractual benefits, to the Executive up to the Termination
            Date, including any Basic Net Annual Salary paid, and provision of contractual benefits, to the Executive during any part of his contractual
            notice period which he is required to work or during which he is placed on garden leave; and (b) the payment of a pro-rated portion
            of the Executive’s “Performance Bonus” (as defined in the applicable Bonus Scheme Agreement) on the basis of the days
            of the calendar year during which the Executive was employed up to the Termination Date; and (c) any other unpaid bonus in accordance
            with the terms of the Bonus Scheme Agreement or otherwise; and (d) any payment in lieu of notice made to the Executive pursuant
            to clause 3.3. If the Company is required to deduct or withhold Employment Taxes with respect to amounts paid under clauses 16.1 and 16.2,
            then the Company shall pay to the Executive, in addition to the Severance Payment and the amounts under this clause 16.2, such additional
            amount as is necessary to ensure that the net amount actually received by the Executive (after the deduction or withholding of Employment
            Taxes) equals the Severance Payment and the amounts in this clause 16.2.

   

  16.3       The
      Company’s obligations under clause 16.1 are subject to and conditional on:

   

  		(A)	the Executive entering into, and complying with the terms
            of, a settlement agreement with the Company in a form reasonably satisfactory to the Company and the Executive pursuant to which the Executive
            will waive all claims that he may have against the Company, the Listed Company or any other Group Company arising from his employment
            or its termination and any directorships or other offices and their termination; and

   

  		(B)	the Executive’s compliance
            with his material obligations under this Agreement (including, but not limited to, his obligations under clause 13). In the event that
            the Executive commits any breach of such material obligations, the Company shall be released from its obligations under clause 16.1, and
            in the event that the Executive commits any such breach following receipt of any payment pursuant to clause 16.1, or the Company becomes
            aware of any such breach following the Executive having received a payment under clause 16.1, an amount equal to the payment made under
            clause 16.1 shall be immediately repayable by the Executive to the Company as a debt.

   

  

  
  
    	 	13	 

  

  
    	 

  

  
  		16.4 In	the event of a dispute between the Parties as to whether there was Cause to terminate Executive’s
          employment or there was Good Reason for Executive to resign, the full amount of termination payments under clause 16.1 shall be placed
          into escrow until such time that there is a judgment by a court of competent jurisdiction that Cause or Good Reason existed, or the Parties
          otherwise agree in writing that the amount may be released.

   

  		16.5	In the event of death of the
            Executive, the Company’s obligations hereunder shall automatically cease and terminate; provided, however, that within fifteen (15)
            days the Company shall pay to the Executive’s heirs or personal representatives the Executive’s basic salary and any unpaid
            bonuses (in accordance with the terms of the applicable Bonus Scheme Agreement) accrued to the date of death including, for the avoidance
            of doubt, the Severance Payment and any other amounts payable to the Executive under this Agreement as if the Executive had resigned for
            Good Reason; until the final determination of the identity of the heirs, the Company shall have the right to deposit any such amount with
            a third party escrow agent appointed by the Company or with the Greek Deposits and Loans Fund.

   

  		17.	SUMMARY TERMINATION

   

  17.1 The employment of the Executive
    may be terminated by the Company without notice or payment (to the fullest extent permitted under the law, in which case, for the avoidance
    of doubt, the provision of art. 5(1) second sentence of Law 3198/1955 shall be applicable) for “Cause”, which shall
    mean:

   

  		(A)	the Executive is guilty of misconduct or commits any serious
            breach or non-observance of any of the provisions of this Agreement or of his obligations to the Company, the Listed Company or any other
            Group Company (whether under this Agreement or otherwise) or of any lawful acts or directions of the Board or relevant rules and/or codes
            issued by or on behalf of any Relevant Stock Exchange or is guilty of any continued or successive breaches or non-observance of any of
            such provisions, obligations, acts or directions, rules and/or codes, in spite of written warning to the contrary by the Board;

   

  		(B)	the Executive is in the reasonable
            opinion of the Board of the Listed Company negligent or incompetent in the performance of his duties;

   

  		(C)	the Executive is adjudged bankrupt;

   

  		(D)	the Executive
            is guilty of any fraud or dishonesty or acts in any manner which in the reasonable opinion of the Board of the Listed Company brings or
            is likely to bring the Company, the Listed Company or any other Group Company into disrepute or is materially adverse to the interests
            of the Company, the Listed Company or any other Group Company;

   

  

  
  
    	 	14	 

  

  
    	 

  

  
  		(E)	the
            Executive performs any act or omission which in the reasonable opinion of the Board of the Listed Company may seriously damage the interests
            of the Company, the Listed Company or any other Group Company or willfully or negligently breaches any legislation or any regulation to
            which the Company, the Listed Company or other Group Company may be subject, which may result in any penalties being imposed on him or
            any Directors of the Company, the Listed Company or other Group Company.

   

  		(F)	the Executive becomes prohibited by law or is disqualified
            from being a director or officer of a company;

   

  		(G)	the Executive is convicted of
            any criminal offense by a court of competent jurisdiction (other than a minor offense for which a fine or other noncustodial penalty is
            imposed);

   

  		(H)	the Executive commits any act
            of deliberate discrimination or harassment on grounds of race, sex, disability, sexual orientation, religion or belief or age;

   

  		(I)	the Executive is adjudged of unsound mind or a patient for
            the purpose of any statute relating to mental health; or

   

  		(J)	the Executive commits any other act warranting summary termination
            under applicable law including (but not limited to) any act justifying dismissal without notice in the terms of the Company’s generally-applicable
            Disciplinary Rules in place from time to time.

   

  		17.2	The Company shall not terminate Executive’s employment for Cause unless Executive is provided written notice of the alleged
          grounds for Cause under sub-clauses (A), (B), (C), (E), or (J) and a thirty (30) day period to cure.

   

  		17.3	The termination of the Executive’s
            employment hereunder for whatsoever reason shall not affect those terms of this Agreement which are expressed to have effect after such
            termination and shall be without prejudice to any accrued rights or remedies of the Parties.

   

  		17.4	On the termination of the Executive’s employment either summarily or otherwise, or at any other time
          in accordance with instructions given to him by the Board of the Listed Company, the Executive will immediately return to the Company
          all equipment, correspondence, records, specifications, software, models, notes, reports and other documents and any copies thereof and
          any other property belonging to the Company, the Listed Company or any other Group Company (including but not limited to credit cards,
          keys and passes) which are in the Executive’s possession or under his control.

   

  		17.5	On the termination of the Executive’s employment either summarily or otherwise, or at any other time in accordance with instructions
          given to him by the Board of the Listed Company, the Executive will immediately irretrievably delete any information relating to the business
          of the Company, the Listed Company or any other Group Company stored on any magnetic or optical disk or memory and all matter derived
          from such sources which is in his possession or under his control outside the premises of the Company, the Listed Company or any other
          Group Company.

   

  

  
  
    	 	15	 

  

  
    	 

  

  
  		17.6 Upon	the request of the Board of the Listed Company, the Executive will provide a signed written statement that
          he has fully complied with his obligations under clauses 17.4 and/or 17.5 and the Company may withhold any sums owing to the Executive
          on the Termination Date until the obligations in clause 17.4 and/or 17.5 have been complied with.

   

  		18.	INVENTIONS AND IMPROVEMENTS

   

  18.1 For the purposes of this clause 18 the following words and
    expressions shall have the following meanings:

   

  “Intellectual Property Rights” means (i)
    copyright, patents, know-how, confidential information, database rights, and rights in trademarks and designs (whether registered or unregistered),
    (ii) applications for registration, and the right to apply for registration, for any of the same, and (iii) all other intellectual property
    rights and equivalent or similar forms of protection existing anywhere in the world;

   

  “Invention” means any method, idea, concept,
    experimental work, theme, invention, discovery, process, model, formula, prototype, sketch, drawing, plan, composition, design, configuration,
    improvement or modification of any kind conceived, developed, discovered, devised or produced by the Executive alone or with one or more
    other employees of the Company (or the Listed Company or any other Group Company) during his employment and which pertains to or is actually
    or potentially useful to the activities from time to time of the Company (or the Listed Company or any other Group Company) or any product
    or service of the Company (or the Listed Company or any other Group Company).

   

  		18.2	The Executive shall promptly disclose and deliver to the Company
            in confidence full details of each Invention (whether or not it was made, devised or discovered during normal working hours or using the
            facilities of the Company or the Listed Company), to enable the Company to determine whether rights to such Invention vest in the Company,
            upon the making, devising or discovering of the same and shall at the expense of the Company give all such explanations, demonstrations
            and instructions as the Company may deem appropriate to enable the full and effectual working, production and use of the same.

   

  		18.3	The Executive hereby assigns
            (in so far as title has not automatically vested in the Company through the Executive’s employment) to the Company with full title
            guarantee by way of future assignment all copyright, database right, design right and other similar rights for the full terms (including
            any extension or renewals thereof) thereof throughout the world in respect of all works, designs or materials (including, without limitation,
            source code and object code for software) originated, conceived, written or made by the Executive during the period of his employment
            (except only those works or designs originated, conceived, written or made by the Executive wholly outside his normal working hours which
            are wholly unconnected with any business activity undertaken or planned to be undertaken by the Company, the Listed Company or any other
            Group Company) to hold unto the Company absolutely. The aforementioned assignment shall include the right to sue for damages and/or other
            remedies in respect of any infringement (including prior to the date hereof).

   

  

  
  
    	 	16	 

  

  
    	 

  

  
  		18.4 The	Executive hereby irrevocably and unconditionally waives in favor of the Company for any work in which copyright
          or design right is vested in the Company whether by this clause 18 or otherwise.

   

  		18.5	The Executive shall, without additional payment to him (except to the extent provided by applicable law)
          at the request and expense of the Company and whether or not during the continuance of his employment, promptly execute all documents
          and do all acts, matters and things as may be necessary or desirable to enable the Company or its nominee to obtain, maintain, protect
          and enforce any Intellectual Property Right vested in the Company in any or all countries relating to the Intellectual Property Right
          and to enable the Company to exploit any Intellectual Property Right vested in the Company.

   

  		18.6	The Executive shall not do anything (whether by omission or commission) during his employment or at any time thereafter to affect
          or imperil the validity of any Intellectual Property Right obtained, applied for or to be applied for by the Company, the Listed Company
          or their nominees, and in particular the Executive shall not disclose or make use of any Invention which is the property of the Company
          or the Listed Company without the prior written consent of the Company. The Executive shall during or after the termination of his employment
          with the Company, at the request and expense of the Company, provide all reasonable assistance in obtaining, maintaining and enforcing
          such Intellectual Property Right or in relation to any proceeding relating to the Company’s or the Listed Company’s right,
          title or interest in any such Intellectual Property Right.

   

  		18.7	Without prejudice to the generality of the above clauses, the Executive hereby irrevocably authorizes the
          Company to appoint a person to be his attorney in his name and on his behalf to execute any documents and do any acts, matters or things
          as may be necessary for or incidental to grant the Company the full benefit of the provisions of this clause 18.

   

  		18.8	The obligations of the Executive under this clause 18 shall continue to apply after the termination of
          his employment (howsoever terminated).

   

  		18.9	For the avoidance of doubt, nothing in this Agreement shall oblige the Company (or the Listed Company or
          any other Group Company) to seek protection for or exploit any Intellectual Property Right.

   

  18.10 Nothing in this Agreement
    shall limit in any way the permitted activities under the Non-Compete Agreement. In the event of a conflict, the Non-Compete Agreement
    shall prevail.

   

  

  
  
    	 	17	 

  

  
    	 

  

  
  		19.	GRIEVANCE
              AND DISCIPLINARY PROCEDURES

   

  19.1 In the
    event of the Executive wishing to seek redress of any grievance relating to his employment he should lay his grievance before the Board
    or the board of directors of the parent company of any group of which the Company or the Listed Company is a member from time to time
    (in this clause 19, “Ultimate Board”) in writing, who will afford the Executive the opportunity of a full hearing before the
    board or a committee of the board or the Ultimate Board (as appropriate) whose decision on such grievance shall be final and binding.

   

  19.2 The Company’s and the
    Listed Company’s usual disciplinary procedures do not apply to the Executive. In the event that any disciplinary action is to be
    taken against the Executive, any hearing in respect thereof will be conducted by such director of the Company, the Listed Company or the
    parent company of any group of which the Company or the Listed Company is a member from time to time as the Board or the Ultimate Board
    may in its reasonable discretion nominate. If the Executive seeks to appeal against any disciplinary action taken against him he should
    do so to the Ultimate Board submitting full written grounds for his appeal to the Chairman of the Ultimate Board within 7 days of the
    action appealed against. The decision of the Ultimate Board or a delegated committee thereof shall be final and binding. For the avoidance
    of doubt, the Executive has no contractual right to either a disciplinary hearing or appeal.

   

  19.3 The Company may in its absolute
    discretion suspend the Executive from some or all of his duties (and if applicable, from the Board) and/or require him to remain away
    from work during any investigation conducted into an allegation relating to the Executive’s conduct or performance. During such
    period, the Executive’s salary will continue to be paid and he will continue to be entitled to all benefits provided to him, including
    participating in any relevant bonus or share option schemes subject always to the rules of those schemes.

   

  		20.	GENERAL

   

  20.1 No failure or delay by either
    party in exercising any right, power or privilege under this Agreement shall operate as a waiver thereof nor shall any single or partial
    exercise by either party of any right, power or privilege hereunder preclude any further exercise thereof or the exercise of any other
    right, power or privilege.

   

  20.2 The Executive shall have no
    claim against the Company, the Listed Company or any other Group Company in respect of the termination of his employment hereunder in
    relation to any provision in any Stock Incentive Plan which has the effect of requiring the Executive to sell, transfer or give up any
    shares, securities, options or rights issued to him thereunder at any price or which causes any options or other rights granted to him
    thereunder to become prematurely exercisable or to lapse by reason of his termination or because he has given or received notice of termination.

   

  20.3 Any term of any collective
    agreements which may affect adversely (against the Executive) the terms and conditions of the employment of the Executive hereunder shall
    not be applicable.

   

  20.4 For the avoidance of doubt
    any payments made to or other benefits provided to the Executive or his family which are not expressly referred to in this Agreement shall
    be regarded as payments or benefits provided in the ordinary course of business of the Company and, unless express notice of revocation
    of such payments or benefits is given to the Executive, they shall be deemed to form part of the Executive’s contract of employment.

   

  

  
  
    	 	18	 

  

  
    	 

  

  
  		20.5 If	any clause or provision in this Agreement is found by a court of competent jurisdiction or other competent authority to be invalid,
          unlawful or unenforceable then such clause or provision shall be severed from the remainder of the Agreement or clause and that remainder
          shall continue to be valid and enforceable to the fullest extent permitted by law. In that case, the Parties shall negotiate in good faith
          to replace any invalid, unlawful or unenforceable clause or provision with a suitable substitute clause or provision which maintains as
          far as possible the purpose and effect of this Agreement.

   

  		20.6	This Agreement may be executed in any number of counterparts, each of which when executed, shall be an
          original, and all the counterparts together shall constitute one and the same instrument. Delivery of an executed signature page of a
          counterpart by facsimile transmission or by electronic mail in Adobe TM Portable Document Format (PDF), shall take effect as delivery
          of an executed counterpart of this Agreement.

   

  20.7       No
      term of this Agreement is enforceable by a third party who is not a party to this Agreement.

   

  		20.8	No amendment, modification or waiver of this Agreement or any of its provisions shall be binding upon the
          Parties hereto unless made in writing and duly signed by the Parties.

   

  		20.9	Any amendment or change on the
            applicable law including without limitation tax and social security laws occurring after the date of this Agreement which may adversely
            affect any amount payable to the Executive by the Company under this Agreement, shall be for the Company’s account in its capacity
            as employer which shall be obliged to gross up any such amount payable to the Executive accordingly so that the net amount received by
            the Executive from time to time remains the same.

   

  		21.	NOTICES

   

  21.1 Without prejudice to any
    other mode of service provided under the law, any notice or communication given or required under this Agreement may be served by personal
    delivery or by leaving the same at or by sending the same through the recognized international overnight delivery service in the case
    of the Company to its registered office from time to time and in the case of the Executive to his aforesaid address or to the address
    provided from time to time by the Executive to the Company for the purposes of its employment records.

   

  21.2 Any notice sent by recognized
    international overnight delivery service shall be deemed to have been served 3 business days after the time of depositing such notice
    with the recognized international overnight delivery service for next day delivery.

   

  

  
  
    	 	19	 

  

  
    	 

  

  
  		21.3 Process	agent (antiklitos). The
            Company irrevocably appoints Ms. Lida Papadi, presently at 3-5, Menandrou Street, Kifisia, Athens, 14561 Greece, to act as its agent to
            receive and accept on its behalf any process or other document relating to any proceedings in the Greek courts which are connected with
            this Agreement.

   

  		22.	EXTENT AND SUBSISTENCE OF AGREEMENT

   

  22.1 The Parties hereby agree that,
    as of the Effective Date, the terms and provisions of the Prior Employment Agreement be and are hereby amended and restated in their entirety
    by the terms, conditions and provisions of this Agreement, and the terms and provisions of the Prior Employment Agreement are superseded
    by this Agreement.

   

  22.2 This Agreement supersedes all
    other agreements other than those expressly referred to in this Agreement whether written or oral between the Company and the Executive
    relating to the employment of the Executive. The Executive acknowledges and warrants to the Company that he is not entering into this
    Agreement in reliance upon any representation not expressly set out herein.

   

  		23.	GOVERNING LAW AND JURISDICTION

   

  23.1 This Agreement and any dispute
    or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall
    be governed by and construed in accordance with Greek law. In case of conflict between the terms of this Agreement and the provisions
    of Greek law, this Agreement shall prevail to the extent that its terms are more favorable for the Executive.

   

  23.2 The Parties agree to submit to
    the exclusive jurisdiction of the Courts of Piraeus, Greece as regards any dispute or claim arising out of or in connection with this
    Agreement or its subject matter or formation (including non-contractual disputes or claims).

   

  IN WITNESS whereof a
      duly authorized representative of the Company and the Executive have executed this Agreement on the 8th
    day of May 2020 and hereby confirm that this Agreement is effective as of the Effective Date.

   

  	EXECUTED by the Company	 	 
	acting by Anastasios Psaropoulos, a Director	)	/s/ Anastasios Psaropoulos
	 	)	 
	the said Georgios Giouroukos	)	/s/ Georgios Giouroukos
	 	)	 
	COUNTERSIGNED, AGREED and	 	 
	ACCEPTED by the Listed Company	 	 
	acting by Ian Webber and Thomas Lister	)	/s/ Ian Webber
	 	)	/s/ Thomas Lister
	 		 

  
  
    	 	20	 

  

  
    	 

  

  
  Exhibit
        A

   

  Leadership and strategic direction

   

  		•	To lead the Board of the Company and the Listed Company.

   

  		•	To provide direct line management for the Listed Company
            Group CEO, CFO and CCO.

   

  		•	To lead and manage the executive management team of the
            Company and the Listed Company.

   

  		•	Develop a strategy and to monitor implementation of the
            strategy in discussion with the Listed Company Group CEO, CFO and CCO.

   

  		•	To take the chair at general
            meetings, board meetings, nomination committee meetings and strategy meetings of the Company and the Listed Company.

   

  		•	To represent the Company and
            the Listed Company at the highest level including to the government, regulatory authorities, the media, prospective investors, company
            stakeholders and the general public.

   

  		•	To, from time to time at Executive’s
            discretion and subject to the nominating and governance committee’s charter, propose to the nominating and governance committee
            suitable candidates for senior executive appointments, and to consult with the board and the compensation committee on senior executive
            compensation.

   

  Operations and controls

   

  		•	To work with the Listed Company Group CEO, CFO and CCO to:

   

  		•	Search for possible fixtures
            for the Group Companies’ vessels and negotiate-conclude the relevant charterparties to achieve maximum income and handle any matter
            relating to the vessels’ charterparties always in accordance with the relevant instructions.

   

  		•	Search for investments for the
            company to assist growth and mainly to search for possible acquisitions/selling of vessels and fleets, negotiate the terms of such ship
            sale and purchase agreements and conclude such and handle any matter relating to the ship and sale agreements always in accordance with
            relevant instructions.

   

  		•	Negotiate the terms of shipbuilding, retrofitting and repair
            contracts for the Group Companies’ vessels and conclude such contracts, as well as handle any matter relating thereto.

   

  		•	Search for possible M&As.

   

  		•	Search for finance of new acquisitions or refinance of existing
            indebtedness.

   

  

  
  
    	 	21	 

  

  
    	 

  

  
  		•	Initiate
            equity or debt raising.

   

  		•	Perform meetings with investors in respect of equity/debt
            raisings.

   

  		•	Perform non-deal roadshows with respect to investor relations.

   

  		•	Participate in Company and Listed Company quarterly result
            conference calls and investor calls.

   

  		•	Present the Company and Listed Company in industry events.

   

  		•	Communicate with shareholders.

   

  		•	Monitor budget and performance of the Company and the Listed
            Company.

   

  		•	Monitor the efficient operation of the Company and the Listed
            Company.

   

  Reporting

   

  		•	To supervise with the Listed Company Group CEO, CFO and
            CCO to:

   

  		•	Report to the Board regularly
            on the operation of the Company’s and Listed Company’s businesses both at board meetings and at other times.

   

  		•	Provide such information to the Board as they may require
            in order for the board to assess the performance of the business and the achievement of the agreed strategy and budget.

   

  Board meetings

   

  		•	To plan a schedule, set agendas and conduct board meetings
            of the Company and the Listed Company.

   

  Delegation

   

  		•	To coordinate with the Board to focus on the key issues
            facing the Company and the Listed Company.

   

  		•	To coordinate with the Board to delegate appropriately to
            its key committees.

   

  		•	To coordinate with the Board to set appropriate levels of
            authority for senior executives.

   

  

  
  
    	 	22	 

  

  
    	 

  

  
  Board
      composition

   

  		•	To coordinate with the Board and nominating and governance
            committee, subject to the Company’s and the Listed Company’s articles of incorporation and the nominating and governance committee’s
            charter, in establishing processes for the appointment, re-election, retirement, succession and, if necessary, removal of directors.

   

  		•	To coordinate with the Board in establishing a succession
            plan for all directors and key executives.

   

  Board performance

   

  		•	To coordinate with the Board
            to oversee and evaluate the implementation of the Company’s and the Listed Company’s strategy, policies and business plans.Exhibit 4.32

   

  GSL ENTERPRISES LTD.

   

  and

   

  Anastasios Psaropoulos

   

   

  AMENDED AND RESTATED EMPLOYMENT AGREEMENT

   

   

   

   

   

   

   

   

   TABLE OF CONTENTS

  

   

  	 	 	

        
	1.	INTERPRETATION	1
	2.	APPOINTMENT	4
	3.	TERM AND NOTICE	4
	4.	DUTIES	5
	5.	SALARY	6
	6.	EXPENSES	7
	7.	BONUS SCHEME	7
	8.	SHARE SCHEMES	7
	9.	HEALTH, LIFE AND MEDICAL INSURANCE	7
	10.	ILLNESS	8
	11.	VACATION DAYS	9
	12.	[INTENTIONALLY OMITTED]	9
	13.	CONFIDENTIAL AND BUSINESS INFORMATION	9
	14.	DATA PROTECTION	11
	15.	[INTENTIONALLY OMITTED]	12
	16.	TERMINATION	12
	17.	SUMMARY TERMINATION	14
	18.	INVENTIONS AND IMPROVEMENTS	16
	19.	GRIEVANCE AND DISCIPLINARY PROCEDURES	18
	20.	GENERAL	18
	21.	NOTICES	19
	22.	EXTENT AND SUBSISTENCE OF AGREEMENT	20
	23.	GOVERNING LAW AND JURISDICTION	20

  

  

  
  
    	 	i	 

  

  
    	 

  

  
  AMENDED
      AND RESTATED EMPLOYMENT AGREEMENT BETWEEN

   

  GSL ENTERPRISES LTD. AND ANASTASIOS PSAROPOULOS

   

  This Amended and Restated Employment
      Agreement (this “Agreement”) is effective as of the 12th of
      March 2020 (the “Effective Date”) and is made between:

   

  		(1)	GSL ENTERPRISES LTD., whose registered
            office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH 969600 and has established a branch office
            in Greece pursuant to the provisions of art. 25 of Law 27/1975 (former law 89/67) at 3-5, Menandrou Street, Kifisia, Athens, 14561, Greece
            and 9, Irodou Attikou Street, Kifisia, Athens, 14561 Greece (the “Company”); and

   

  		(2)	ANASTASIOS PSAROPOULOS, an individual
            residing at 56, Asklipiou Street, Glyfada, Athens 16675, Greece, with Greek tax identification number 118731373, issued by the Greek tax
            office of Glyfada, Athens (the “Executive”).

   

  (the “Parties”, each the “Party”)

   

  WHEREAS, the Executive has agreed,
    as an employee of the Company in a senior management position, to oversee and participate in the provision of services to the Company
    on the terms of the Prior Employment Agreement particularly given his appointment as Chief Financial Officer and Treasurer of the parent
    company Global Ship Lease, Inc., whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall
    Islands, MH 969600 and the address of principal executive offices is at 25 Wilton Road, London SW1V 1LW, United Kingdom and whose common
    stock has been registered pursuant to Section 12(b) of the United States Securities Exchange Act of 1934, as amended, and is listed on
    the New York Stock Exchange under the trading symbol “GSL”, (the “Listed Company”).

   

  WHEREAS, the Parties agree to amend and
    restate the Prior Employment Agreement by entering into this Agreement, which reflects the terms of the Prior Employment Agreement, subject
    to the terms and provisions herein contained.

   

  OPERATIVE PROVISIONS

   

  		1.	INTERPRETATION

   

  1.1       In
      this Agreement the following words and expressions shall have the following meanings:

   

  “the Board” means
    the board of directors of the Company or the Listed Company, as the context may require; references to the “Board of the Listed
      Company” shall mean the Board of Directors of Global Ship Lease, Inc. or if appropriate the compensation committee thereof;

  
  
    	 	1	 

  

  
    	 

  

  
  “Change
      in Control Transaction” means the consummation, following the date of the Merger (as defined below), of any of the following

   

  transactions:

   

  a. the acquisition, directly or indirectly,
    by any individual, partnership, firm, company, association, trust, unincorporated organization or other entity (a “Person”),
    or any Persons acting as a “group” within the meaning of Section I 3(d)(3) of the Securities Exchange Act of 1934, as amended
    (the “Exchange Act”) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) (other than the Listed
    Company or a person that directly or indirectly controls, is controlled by, or is under common control with, the Listed Company) of securities
    of the Listed Company representing more than 50% of the total combined voting power of the Listed Company’s then outstanding securities
    entitled to vote in the election of the directors of the Listed Company (the “Voting Shares”);

   

  b. the Listed Company disposing of all or substantially all of
    its assets;

   

  c. 10% or more of the value of the
    assets of the Listed Company, or the Voting Shares of the Listed Company are about to be transferred, or have been transferred, because
    of any taking, seizure, or defeasance as a result of, or in connection with (i) nationalization, expropriation, confiscation, coercion,
    force or duress, or other similar action under the laws of the Republic of the Marshall Islands, or

   

  		(ii)	the imposition by the Republic of the Marshall Islands of
            a confiscatory tax, assessment, or other governmental charge or levy;

   

  d. the merger of the Listed Company
    with or into another corporation or any other transaction in which securities possessing more than 50% of the total combined voting power
    of the Listed Company are transferred to a person or persons different from the persons holding those securities immediately prior to
    such transaction; or

   

  c. the Board by resolution duly adopted
    by the affirmative vote of a simple majority of the votes cast by the Board determines that for the purposes of this Agreement, a Change
    in Control Transaction has occurred; or

   

  f. there is a
    change in boardroom control of the Listed Company. A change in boardroom control for the purpose of this clause shall mean a change in
    the directors of the board of the Listed Company such that the majority of directors on the Board following such change are directors
    who were not directors immediately following the closing of the Mergers.

   

  A transaction
    shall not constitute a Change in Control Transaction if its sole purpose is to change the state of the Listed Company’s incorporation
    or to create a holding company that will be owned in substantially the same proportions by the persons who held the Listed Company’s
    securities immediately before such transactions.

   

  “Good Reason” means
    (a) the assignment to the Executive by the Company or the Listed Company of any duties or responsibilities inconsistent with the Executive’s
    position, including but not limited to, any change in title the effect of which results in the Executive having a lesser status than Chief
    Financial Officer in the Listed Company, (b) a reduction in the Executive’s base salary, (c) any change in location of the Company’s
    principal administrative office or the Executive’s normal place of work to be outside of Greece, (d) a Change in Control Transaction,
    (e) a Material Transaction or (f) any unilateral adverse/unfavourable variation of the employment terms of the Executive by the Company
    as defined by Greek labour law;

   

  

  
  
    	 	2	 

  

  
    	 

  

  
  “Group
      Company” means the Company, the Listed Company, any company of which the Listed Company is a subsidiary (its holding company)
    and any other subsidiaries of the Listed Company or such holding company;

   

  “Material
      Transaction” means any merger or acquisition (which is not a Change in Control Transaction) which is determined by the Board
    acting reasonably and in good faith to be a material merger or acquisition having a material impact on the ownership structure of the
    Group Companies;

   

  “Merger Agreement”
    means the Agreement and Plan of Merger, dated as of 29 October, 2018, by and among the Listed Company, Poseidon Containers Holdings, LLC,
    K&T Marine, LLC and the other parties named therein.

   

  “Merger” means the consummation of the mergers
    contemplated under the Merger Agreement;

   

  “Prior Employment Agreement” means the employment
    agreements between the Parties dated 1 August 2019;

   

  “Relevant Stock Exchange”
    means the New York Stock Exchange and/or any other stock exchange, recognized investment exchange or automated quotation system on which
    any Group Company or any of their securities, as applicable, is listed, dealt in or admitted for trading;

   

  “Stock Incentive Plan” means any outstanding
    equity incentive plan maintained by a Group Company;

   

  “Subsidiary Company” means any Group Company
    other than the Company and the Listed Company;

   

  “Termination Date”
    means the date of the termination of the employment of the Executive hereunder, howsoever caused; 1.2 In this Agreement (unless the context
    otherwise requires):

  		(A)	any reference to any statute
            or statutory provision shall be construed as including a reference to any modification, re-enactment or extension of such statute or statutory
            provisions of Greek labour law or the law of any other state as may be applicable in the context of the Executive’s employment,
            for the time being in force or to any subordinate legislation made under the same;

   

  		(B)	any reference to a clause is to a clause of this Agreement;

   

  		(C)	the expression “directly or indirectly” means
            (without prejudice to the generality of the expression) either alone or jointly with or on behalf of any other person, firm or body corporate
            and whether on his own account or in partnership with another or others or as the holder of any interest in or as officer, employee or
            agent of or consultant to any other person, firm or body corporate.

   

  

  
  
    	 	3	 

  

  
    	 

  

  
  		1.3 The	headings contained in this Agreement are for convenience only and do not form part of and shall not affect
          the construction of this Agreement or any part of it.

   

  		2.	APPOINTMENT

   

  2.1 The Company has appointed the Executive
    and the Executive agrees to serve the Company as director and Vice-President of the Company and shall report to the Board of the Listed
    Company. The Executive has also been appointed as the Chief Financial Officer and Treasurer of the Listed Company as of 20 November 2018.

   

  2.2 The Executive warrants that
    by virtue of entering into this Agreement he will not be in breach of any express or implied terms of any contract with or of any other
    obligation to any third party which are binding upon him.

   

  		3.	TERM AND NOTICE

   

  3.1 The terms of this Amended and Restated
    Employment Agreement shall be deemed effective as of the Effective Date but the employment relationship between the Parties has commenced
    as of the date of the Prior Employment Agreement. Subject to the provisions of clause 17, this Agreement shall continue to be effective
    for an indefinite term unless and until terminated by:

   

  		(A)	the Company giving to the Executive not less than 12 months’
            written notice; or

   

  		(B)	the Executive giving to the Company
            not less than 6 months’ written notice, unless Executive’s resignation is for Good Reason in which case the Executive shall
            have given to the Company not less than 14 days’ written notice.

   

  		3.2	The Executive’s employment
            may only be terminated by the Company under clauses 3.1(A) and 17 or otherwise, or placed on paid leave under clause 19.3, with (a) the
            affirmative vote of the majority of the members of the Board of the Listed Company; or (b) a decision of the Executive Chairman of the
            Listed Company.

   

  		3.3	The Company reserves the right
            at any time, in its absolute discretion but always subject to clause 3.2, to terminate the Executive’s employment by paying to the
            Executive a sum equal to his salary and contractual benefits for the relevant period of notice specified in clause 3.1, simultaneously
            with the Severance Payment provided in clause 16.1(A) and the payment of any other amount as provided in clause 16.2.

   

  		3.4	It is expressly agreed that the
            terms of this Agreement relating to the termination of the employment (including without limitation under clauses 3.1(A), 3.2, 3.3 and
            17) shall apply in addition to any rights or benefits provided by the applicable provisions of Greek labour law as in force from time
            to time (including Law 2112/1920 in conjunction with Law 3198/1955 as may be amended or replaced).

   

  

  
  
    	 	4	 

  

  
    	 

  

  
  		4.	DUTIES

   

  4.1 The Executive shall during the continuance of his employment:

   

  		(A)	exercise such powers and perform such duties in relation to
            the ship-brokerage business of the Company and mainly exercise such powers and perform such duties pertaining to the provision of ship-brokerage
            services by the Company’s branch office in Greece, always in accordance with its establishment license under Law 27/1975;

   

  		(B)	exercise such powers and perform
            such duties in relation to the business of the Company, of the Listed Company or of any Subsidiary Company as may from time to time be
            vested in or assigned to him by the Board, provided always that such new assignments do not constitute a unilateral adverse/unfavourable
            variation of the employment terms;

   

  		(C)	well and
            faithfully serve the Company, the Listed Company and any relevant Subsidiary Companies to the best of his ability and carry out his duties
            with all due care, skill and ability, and use his best endeavors to promote and maintain their interests and reputation;

   

  		(D)	be a director of the Company
            and act as Vice-President thereof, and remain in such capacities without any additional remuneration, (other than the amounts specified
            in this Agreement);

   

  		(E)	act as Chief Financial Officer
            and Treasurer of the Listed Company, and remain in such capacities without any additional remuneration, (other than the amounts specified
            in this Agreement);

   

  		(F)	become a director of Global Ship
            Lease Services Limited and remain in such capacity without any additional remuneration, (other than the amounts specified in this Agreement);
            and

   

  		(G)	have responsibility for the duties set forth on Exhibit
            A hereto.

   

  		4.2	The Executive will serve the
            Company, the Listed Company and any Subsidiary Company in such capacity as the Board shall determine from time to time. In performance
            of his duties the Executive shall:

   

  		(A)	normally perform his duties in 3-5 Menandrou Street, Kifissia,
            Athens, 14561 Greece or in 9, Irodou Attikou Street, Kifisia, Athens, 14561 Greece where the Company has an established ship-brokerage
            office pursuant to the provisions of art. 25 of Law 27/1975 (former law 89/67). However, due to the nature of the business of the Company
            and the Listed Company and the Executive’s managerial position, the Executive agrees that he shall be required to travel and he
            may be required from time to time to work at other locations possibly in other countries for temporary periods as the position of the
            Executive may from time to time reasonably require, without such requirement constituting a unilateral adverse variation of the employment
            terms. The Company shall give reasonable notice of such temporary changes of place of work to the Executive;

   

  

  
  
    	 	5	 

  

  
    	 

  

  
  		(B)	in
            all respects conform to and comply with lawful directions and regulations given and made by the Board; and

   

  		(C)	in all respects conform to and
            comply with all relevant rules and/or codes issued by or on behalf of any Relevant Stock Exchange.

   

  		4.3	The Executive shall immediately
            upon the Company’s request supply any and all information which the Listed Company or any other Group Company may reasonably require
            in order to be able to comply with any statutory or regulatory provision or stock exchange rule or requirement of any Relevant Stock Exchange.

   

  		4.4	The Executive shall comply with
            the Company’s, the Listed Company’s or any other Group Company’s health and safety procedure from time to time in force.

   

  		5.	SALARY

   

  5.1 The Company shall pay to the
    Executive by way of remuneration for his services under this Agreement a basic net salary per annum of US Dollars Eighty Thousand ($80,000)
    or the equivalent amount in Euros, at the option of the Executive (the “Basic Net Annual Salary”) inclusive of any
    director’s fees payable to him by the Company or any other Group Company. If the Company is required to deduct or withhold Employment
    Taxes (as defined below) with respect to the Basic Net Annual Salary, then the Company shall pay to the Executive, in addition to the
    Basic Net Annual Salary payment, such additional amount as is necessary to ensure that the net amount actually received by the Executive
    (after the deduction or withholding of Employment Taxes) equals the Basic Net Annual Salary. As used herein, “Employment Taxes”
    means any applicable withholdings or deductions for, or on account of, any present or future income taxes, employee national insurance
    or social security contributions or other statutory payments of any nature due in respect of his Basic Net Annual Salary and any other
    benefits provided to him by the Company, the Listed Company or any other Group Company provided such withholdings or deductions are required
    by applicable law. The Basic Net Annual Salary shall accrue from day to day and shall be payable in arrears on a 14-month basis in accordance
    with the applicable provisions of Greek employment law (and shall be paid pro rata where the Executive is only employed during part of
    a month). The Basic Net Annual Salary shall be reviewed by (with the outcome of such review being at the absolute discretion of) the Board
    of the Listed Company on or about 1 January in each calendar year without commitment to increase. The Executive’s Basic Net Annual
    Salary shall not be decreased.

   

  5.2 The Company shall be entitled
    to deduct from any sums payable to the Executive (including salary) such sums as the Executive notifies the Company in writing to pay
    directly into any personal pension scheme of the Executive which is additional to the State’s pension scheme through national insurance
    contributions.

   

  

  
  
    	 	6	 

  

  
    	 

  

  
  		5.3 The	Executive due to his senior managerial position, is not
            subject to the provisions of Greek labour law which are incompatible with the special position of supervision, management and trust he
            possesses. More specifically, he is not subject to the provisions relating to and will not be entitled to any additional remuneration
            or payment (unless as and to the extent otherwise provided in this Agreement including in particular without limitation clauses 5, 6,
            7 and 11) in respect of working hours, overtime (yperergasia), overtime exceeding maximum working hours (yperoria), work at night, work
            on any banking or public holiday, work on the sixth day of the week or on Sundays, Christmas or Easter bonuses, annual leave allowance
            etc. In any event, if any claim in respect of the above exists or arises, or if there is any additional right, amount or benefit provided
            by any collective bargaining agreement, such right or claim shall be set off with the amounts that the Executive receives under this Agreement
            to the fullest extent permitted by the law.

   

  		6.	EXPENSES

   

  The Company shall reimburse the Executive
    all reasonable traveling, hotel, entertainment and other out of pocket expenses incurred by him in or about the performance of his duties
    under this Agreement subject to his compliance with the Company’s and the Listed Company’s then current guidelines, if any,
    relating to expenses and to the production, if required, of receipts, vouchers or other supporting documents.

   

  		7.	BONUS SCHEME

   

  The Executive will be entitled to participate in any contractual
    bonus scheme or schemes established from time to time by the Company, the Listed Company or any other Group Company for executives of
    equivalent status to the Executive, subject always to the rules of those schemes. Any agreement which shall contractually determine the
    terms pursuant to which the Executive shall be entitled to bonus payments out of the profits of the Company in accordance with the provisions
    of Law 4111/2013, art. 43 para.5 shall be hereafter referred to as the “Bonus Scheme Agreement”.

   

  		8.	SHARE SCHEMES

   

  The Executive will be entitled to participate
    in such share schemes as the Company or the Listed Company or any other Group Company may operate upon such terms as the Board may from
    time to time determine and subject always to the rules and eligibility requirements of the scheme or schemes from time to time in force.

   

  		9.	HEALTH, LIFE AND MEDICAL INSURANCE

   

  9.1 The Executive shall during his employment be entitled to participate
    in any Group Company’s:

   

  		(A)	permanent health insurance scheme; and

   

  

  
  
    	 	7	 

  

  
    	 

  

  
  		(B)	arrangements
            for private medical treatment or medical health insurance including spouse or partner or anyone living as such and dependent children
            under the age of 21 years; and

   

  		(C)	life assurance (together the “Insurance Schemes”)

   

  operated from time to time by or for the Listed Company for
    the benefit of employees of the Listed Company or any other Group Company of equivalent status to the Executive, subject to any applicable
    rules and conditions of the Insurance Schemes. To the extent that there is any disparity between the rules and conditions of the relevant
    Insurance Scheme and the terms of this Agreement the relevant scheme rules and conditions shall prevail. The Listed Company shall not
    have any liability to pay any benefit to the Executive (or any family member) under any Insurance Scheme unless it receives payment of
    the benefit from the insurer under the scheme and shall not be responsible for providing the Executive (or any family member) with any
    benefit under an Insurance Scheme in the event that the relevant insurer refuses for whatever reason to pay or provide or to continue
    to pay or provide that benefit to the Executive (or family member).

   

  		9.2	Any Insurance Scheme which is
            provided for the Executive is also subject to the Listed Company’s right to alter the cover provided or any term of that scheme
            or to cease to provide (without replacement) the scheme at any time if in the opinion of the Board (after the Executive has been examined
            by a medical practitioner nominated by the insurers or by the Listed Company) the state of the Executive’s health is or becomes
            such that the Listed Company is unable to insure the benefits under the scheme at the normal premiums applicable to a person of the Executive’s
            age.

   

  9.3       No
      contracting out certificate is in force in relation to this employment.

   

  		10.	ILLNESS

   

  10.1 In the event of illness or other incapacity beyond
    his control as a result of which he is unable to perform his duties, the Executive shall remain entitled to receive his salary in full
    for any continuous period of 3 months or an aggregate period of 90 days’ absence in any consecutive

   

  12 month period subject to:

   

  		(A)	compliance with the Company’s procedures relating to
            sickness notification, statutory sick pay and self-certification to cover absence from work due to sickness or other incapacity and to
            the provision of medical certificates and/or (at the Company’s discretion) undergoing a medical examination by a doctor appointed
            by the Company. The Executive shall co-operate in ensuring the prompt delivery of such report to the Company and authorize his own medical
            practitioner to supply all such information as may be required by that doctor and, if so requested by the Company, authorize his medical
            practitioner to disclose to the Company his opinion of the Executive’s state of health;

   

  

  
  
    	 	8	 

  

  
    	 

  

  
  		(B)	a
            deduction (at the Company’s discretion) from his salary of an amount or amounts equal to any statutory sick pay or social security
            benefits to which the Executive is entitled; and

   

  		(C)	a deduction (at the Company’s
            discretion) from his salary of an amount or amounts equal to any payment made to the Executive under any health insurance arrangements
            effected from time to time by the Company and/or any Group Company on his behalf.

   

  		11.	VACATION DAYS

   

  11.1 The Executive, despite his senior
    management position, shall be entitled to 25 working days of vacation (in addition to the official public holidays in Greece) in each
    calendar year commencing on 1 January in each year (which shall accrue on a monthly basis). Holidays shall be taken at such times as are
    reasonable and convenient having regard to the requirements of the Company’s business.

   

  11.2 If at the end of the calendar
    year the Executive has accrued vacation entitlement which he has not used he shall be entitled to carry forward an absolute maximum of
    up to 10 days into the following calendar year.

   

  11.3 The Company reserves the right,
    at its absolute discretion, to require the Executive to take any outstanding vacation days during any notice period.

   

  11.4 On termination of the Executive’s
    employment (howsoever occasioned), if the Executive has taken more or less than his annual vacation entitlement an appropriate adjustment
    shall be made to any payment of salary or benefits from the Company to the Executive. In this event the calculation shall be made on the
    basis that each day of vacation is worth 1/260 of his basic salary as set out in clause 5.1.

   

  		12.	[INTENTIONALLY OMITTED]

   

  		13.	CONFIDENTIAL AND BUSINESS INFORMATION

   

  13.1 In addition to and without prejudice
    to the Executive’s obligations to keep information secret under applicable law, the Executive shall not (except for the purpose
    of performing his duties hereunder or unless ordered to do so by a court of competent jurisdiction) either during his employment or after
    its termination directly or indirectly use, disclose or communicate Confidential and Business Information and he shall use his best endeavors
    to prevent the improper use, disclosure or communication of Confidential and Business Information:

   

  		(A)	concerning the business of the Company, the Listed Company
            or any other Group Company and which comes to the Executive’s attention during the course of or in connection with his employment
            or provision of services to the Company, the Listed Company or any other Group Company from any source within the Company, the Listed
            Company or any other Group Company; or

   

  

  
  
    	 	9	 

  

  
    	 

  

  
  		(B)	concerning
            the business of any person having dealings with the Company, the Listed Company or any other Group Company and which is obtained in circumstances
            in which the Company, the Listed Company or any other Group Company is subject to a duty of confidentiality in relation to that information.

   

  13.2       For
      the purposes of clause 13.1, Confidential and Business Information means:

   

  		(A)	any information of a confidential
            nature (whether trade secrets, other private or secret information including secrets and information relating to corporate strategy, business
            development plans, product designs, intellectual property, business contacts, terms of business with customers and potential customers
            and/or suppliers, annual budgets, management accounts and other financial information); and/or

   

  		(B)	any confidential report or research
            undertaken by or for the Company, the Listed Company or any other Group Company before or during the course of the Executive’s employment;
            and/or

   

  		(C)	lists or compilations of the
            names and contact details of the individuals or clients and counterparts with whom the Company, the Listed Company or any other Group
            Company transacts business; and/or

   

  		(D)	the previous 18 months’
            financial results of any individual part of the business of the Company, the Listed Company or any other Group Company; and/or

   

  		(E)	details of all computer systems
            and/or data processing or analysis software developed by the Company, the Listed Company or any other Group Company; and/or

   

  		(F)	details of the requirements, financial standing, terms of
            business and dealings with any Company, the Listed Company or any other Group Company of any client of the Company, the Listed Company
            or any other Group Company; and/or

   

  		(G)	contact details of all employees
            and directors of the Company, the Listed Company or any other Group Company together with details of their remuneration and benefits;
            and/or

   

  		(H)	information so designated by the Company, the Listed Company
            or any other Group Company or which to the Executive’s knowledge has been supplied to the Company, the Listed Company or any other
            Group Company subject to any obligation of confidentiality.

   

  		13.3	The restrictions contained in this clause 13 shall cease to apply with respect to any information which
          would otherwise have been Confidential and Business Information but which comes into the public domain or is otherwise in the possession
          of Executive’s affiliates other than through an unauthorized disclosure by the Executive or a third party.

   

  

  
  
    	 	10	 

  

  
    	 

  

  
  		13.4 The	obligations of the Executive under this clause 13 shall continue to apply after the termination of the
          Executive’s employment (howsoever terminated).

   

  		14.	DATA PROTECTION

   

  14.1 The Parties hereby confirm
    and agree that they are committed to complying with the principles and requirements of the EU General Data Protection Regulation (GDPR).

   

  14.2 The Executive hereby acknowledges that:

   

  		(A)	the Company will collect and process
            information about the Executive, such as the Executive’s name and contact details as well as more sensitive information, for various
            purposes in connection with the Executive’s employment, including to manage benefits and payments, to manage expenses, to manage
            recruitment and on-boarding, to manage absences, for security purposes, to handle claims and disciplinary actions, to monitor performance
            and use of the IT systems, to conduct certain background checks and to comply with the Company’s legal obligations;

   

  		(B)	the Company will collect from
            the Executive and store personal data about the Executive’s next of kin, such as their name and contact details, for use in emergency
            situations, and the Executive agrees that he has informed such individuals that their details have been provided to the Company;

   

  		(C)	the Company may pass the Executive’s information to
            third parties such as the Executive’s previous employers, companies for which the Executive provided services, public authorities,
            law enforcement agencies, fraud prevention agencies and regulators who use it in connection with the purposes set out above. The Company
            may also pass the Executive’s information to third party agents who handle it on behalf of the Company; and/or

   

  		(D)	depending on the circumstances,
            the Company’s use of personal data may involve a transfer of data outside the EU (and the European Economic Area).

   

  		14.3	The Listed Company’s privacy notice, which shall also be applicable to the employment of the Executive
          by the Company gives more details of the personal information about the Executive and the Executive’s next of kin that the Company
          collects and processes. The Executive confirms that the he has read the notice. The privacy notice does not form part of the terms and
          conditions of the Employment, and the Company reserves the right to amend it from time to time and to update the uses of personal data
          listed above and in the privacy notice.

   

  

  
  
    	 	11	 

  

  
    	 

  

  
  		14.4 The	Executive shall comply with Company,
            the Listed Company and other Group Company policies relating to data privacy when handling personal data in the course of the employment,
            including personal data relating to any employee, customer, client, supplier or agent of the Company. The Executive will also comply with
            the Company, the Listed Company and other Group Company policies from time to time in place relating to IT and communications systems,
            use of social media and other policies as included from time to time.

   

  		14.5	Failure to comply with Company, the Listed Company and other Group Company policies
          relating to data privacy or any of the policies listed above in clause 14.3 may be dealt with under the Company’s disciplinary procedure
          and, in serious cases, may be treated as gross misconduct leading to summary dismissal.

   

  		15.	[INTENTIONALLY OMITTED]

   

  		16.	TERMINATION

   

  16.1 If the Executive resigns for
    Good Reason, or the Company terminates Executive’s employment for any reason whatsoever other than for Cause (as defined below in
    clause 17.1):

   

  		(A)	the Executive will (subject
            to clause 16.3), be entitled to receive within 7 days of the Termination Date a net severance payment (the “Severance Payment”)
            of an amount equal to:

   

  		(i)	his latest Basic Net Annual Salary; and

   

  		(ii)	the “Performance Bonus” (as defined in the applicable
            Bonus Scheme Agreement); and

   

  		(iii)	any “Additional
            Bonus” (as defined in the applicable Bonus Scheme Agreement) that the Executive had been awarded for the year preceding the termination
            of the Executive’s employment under this clause 16.1, prorated daily on the basis of the days for which the Executive was employed
            during the year of his termination; and

   

  		(iv)	the cost of the Company of the
            provision of contractual benefits to the Executive for 12 months following the Termination Date.

   

  To the extent that the above amounts exceed and cover
    the statutory severance payment provided by Greek labour law (pursuant to Law 2112/1920 in conjunction with Law 3198/1955), it is clarified
    that the Executive shall not be entitled to receive such statutory severance payment. In any event, it is expressly agreed and accepted
    by the Executive that any statutory severance entitlement under Greek labour law shall be set-off against the Severance Payment agreed
    in this clause 16.1.

   

  		(B)	In addition, the Company shall use reasonable endeavors
            to procure that (i) the Executive receives the full benefit of any awards under the Stock Incentive Plan and/or any Cash Award Agreement
            (including, without limitation, any acceleration of vesting or extension of the post-termination

   

  

  
  
    	 	12	 

  

  
    	 

  

  
  exercise
    term of the Executive’s awards as provided for in the applicable award agreement) and (ii) he is treated as being a “Good
    Leaver” (as defined in the relevant scheme(s) and subject always to the rules and provisions of such scheme(s)) for the purposes
    of any other applicable bonus or incentive scheme (besides the Stock Incentive Plan) which is operated by the Company, the Listed Company
    or any other Group Company from time to time and in which the Executive is participating as at the Termination Date.

   

  		16.2	For the avoidance of doubt, any Severance Payment payable
            under clause 16.1 shall be in addition to any payments, rights or benefits accrued in respect of services already provided, including,
            without limitation, (a) any Basic Net Annual Salary paid, and provision of contractual benefits, to the Executive up to the Termination
            Date, including any Basic Net Annual Salary paid, and provision of contractual benefits, to the Executive during any part of his contractual
            notice period which he is required to work or during which he is placed on garden leave; and (b) the payment of a pro-rated portion
            of the Executive’s “Performance Bonus” (as defined in the applicable Bonus Scheme Agreement) on the basis of the days
            of the calendar year during which the Executive was employed up to the Termination Date; and (c) any other unpaid bonus in accordance
            with the terms of the Bonus Scheme Agreement or otherwise; and (d) any payment in lieu of notice made to the Executive pursuant
            to clause 3.3. If the Company is required to deduct or withhold Employment Taxes with respect to amounts paid under clauses 16.1 and 16.2,
            then the Company shall pay to the Executive, in addition to the Severance Payment and the amounts under this clause 16.2, such additional
            amount as is necessary to ensure that the net amount actually received by the Executive (after the deduction or withholding of Employment
            Taxes) equals the Severance Payment and the amounts in this clause 16.2.

   

  16.3       The
      Company’s obligations under clause 16.1 are subject to and conditional on:

   

  		(A)	the Executive entering into, and complying with the terms
            of, a settlement agreement with the Company in a form reasonably satisfactory to the Company and the Executive pursuant to which the Executive
            will waive all claims that he may have against the Company, the Listed Company or any other Group Company arising from his employment
            or its termination and any directorships or other offices and their termination; and

   

  		(B)	the Executive’s compliance
            with his material obligations under this Agreement (including, but not limited to, his obligations under clause 13). In the event that
            the Executive commits any breach of such material obligations, the Company shall be released from its obligations under clause 16.1, and
            in the event that the Executive commits any such breach following receipt of any payment pursuant to clause 16.1, or the Company becomes
            aware of any such breach following the Executive having received a payment under clause 16.1, an amount equal to the payment made under
            clause 16.1 shall be immediately repayable by the Executive to the Company as a debt.

   

  

  
  
    	 	13	 

  

  
    	 

  

  
  		16.4 In	the event of a dispute between the Parties as to whether there was Cause to terminate Executive’s
          employment or there was Good Reason for Executive to resign, the full amount of termination payments under clause 16.1 shall be placed
          into escrow until such time that there is a judgment by a court of competent jurisdiction that Cause or Good Reason existed, or the Parties
          otherwise agree in writing that the amount may be released.

   

  		16.5	In the event of death of the
            Executive, the Company’s obligations hereunder shall automatically cease and terminate; provided, however, that within fifteen (15)
            days the Company shall pay to the Executive’s heirs or personal representatives the Executive’s basic salary and any unpaid
            bonuses (in accordance with the terms of the applicable Bonus Scheme Agreement) accrued to the date of death including, for the avoidance
            of doubt, the Severance Payment and any other amounts payable to the Executive under this Agreement as if the Executive had resigned for
            Good Reason; until the final determination of the identity of the heirs, the Company shall have the right to deposit any such amount with
            a third party escrow agent appointed by the Company or with the Greek Deposits and Loans Fund.

   

  		17.	SUMMARY TERMINATION

   

  17.1 The employment of the Executive
    may be terminated by the Company without notice or payment (to the fullest extent permitted under the law, in which case, for the avoidance
    of doubt, the provision of art. 5(1) second sentence of Law 3198/1955 shall be applicable) for “Cause”, which shall
    mean:

   

  		(A)	the Executive is guilty of misconduct or commits any serious
            breach or non-observance of any of the provisions of this Agreement or of his obligations to the Company, the Listed Company or any other
            Group Company (whether under this Agreement or otherwise) or of any lawful acts or directions of the Board or relevant rules and/or codes
            issued by or on behalf of any Relevant Stock Exchange or is guilty of any continued or successive breaches or non-observance of any of
            such provisions, obligations, acts or directions, rules and/or codes, in spite of written warning to the contrary by the Board;

   

  		(B)	the Executive is in the reasonable
            opinion of the Board of the Listed Company or the Executive Chairman negligent or incompetent in the performance of his duties;

   

  		(C)	the Executive is adjudged bankrupt;

   

  		(D)	the Executive is guilty of any
            fraud or dishonesty or acts in any manner which in the reasonable opinion of the Board of the Listed Company or the Executive Chairman
            brings or is likely to bring the Company, the Listed Company or any other Group Company into disrepute or is materially adverse to the
            interests of the Company, the Listed Company or any other Group Company;

   

  

  
  
    	 	14	 

  

  
    	 

  

  
  		(E)	the
            Executive performs any act or omission which in the reasonable opinion of the Board of the Listed Company or the Executive Chairman may
            seriously damage the interests of the Company, the Listed Company or any other Group Company or willfully or negligently breaches any
            legislation or any regulation to which the Company, the Listed Company or other Group Company may be subject, which may result in any
            penalties being imposed on him or any Directors of the Company, the Listed Company or other Group Company.

   

  		(F)	the Executive becomes prohibited by law or is disqualified
            from being a director or officer of a company;

   

  		(G)	the Executive is convicted of
            any criminal offense by a court of competent jurisdiction (other than a minor offense for which a fine or other noncustodial penalty is
            imposed);

   

  		(H)	the Executive commits any act
            of deliberate discrimination or harassment on grounds of race, sex, disability, sexual orientation, religion or belief or age;

   

  		(I)	the Executive is adjudged of unsound mind or a patient for
            the purpose of any statute relating to mental health; or

   

  		(J)	the Executive
            commits any other act warranting summary termination under applicable including (but not limited to) any act justifying dismissal without
            notice in the terms of the Company’s generally-applicable Disciplinary Rules in place from time to time.

   

  		17.2	The Company shall not terminate Executive’s employment for Cause unless Executive is provided written notice of the alleged
          grounds for Cause under sub-clauses (A), (B), (C), (E), or (J) and a thirty (30) day period to cure.

   

  		17.3	The termination of the Executive’s
            employment hereunder for whatsoever reason shall not affect those terms of this Agreement which are expressed to have effect after such
            termination and shall be without prejudice to any accrued rights or remedies of the Parties.

   

  		17.4	On the termination of the Executive’s
            employment either summarily or otherwise, or at any other time in accordance with instructions given to him by the Board of the Listed
            Company or the Executive Chairman, the Executive will immediately return to the Company all equipment, correspondence, records, specifications,
            software, models, notes, reports and other documents and any copies thereof and any other property belonging to the Company, the Listed
            Company or any other Group Company (including but not limited to credit cards, keys and passes) which are in the Executive’s possession
            or under his control.

   

  

  
  
    	 	15	 

  

  
    	 

  

  
  		17.5 On	the termination of the Executive’s employment either summarily or otherwise, or at any other time
          in accordance with instructions given to him by the Board of the Listed Company or the Executive Chairman, the Executive will immediately
          irretrievably delete any information relating to the business of the Company, the Listed Company or any other Group Company stored on
          any magnetic or optical disk or memory and all matter derived from such sources which is in his possession or under his control outside
          the premises of the Company, the Listed Company or any other Group Company.

   

  		17.6	Upon the request of the Board of the Listed Company, the Executive will provide a signed written statement
          that he has fully complied with his obligations under clauses 17.4 and/or 17.5 and the Company may withhold any sums owing to the Executive
          on the Termination Date until the obligations in clause 17.4 and/or 17.5 have been complied with.

   

  		18.	INVENTIONS AND IMPROVEMENTS

   

  18.1 For the purposes of this clause 18 the following words and
    expressions shall have the following meanings:

   

  “Intellectual Property Rights” means (i)
    copyright, patents, know-how, confidential information, database rights, and rights in trademarks and designs (whether registered or unregistered),
    (ii) applications for registration, and the right to apply for registration, for any of the same, and (iii) all other intellectual property
    rights and equivalent or similar forms of protection existing anywhere in the world;

   

  “Invention” means any method, idea, concept,
    experimental work, theme, invention, discovery, process, model, formula, prototype, sketch, drawing, plan, composition, design, configuration,
    improvement or modification of any kind conceived, developed, discovered, devised or produced by the Executive alone or with one or more
    other employees of the Company (or the Listed Company or any other Group Company) during his employment and which pertains to or is actually
    or potentially useful to the activities from time to time of the Company (or the Listed Company or any other Group Company) or any product
    or service of the Company (or the Listed Company or any other Group Company).

   

  		18.2	The Executive shall promptly disclose and deliver to the Company
            in confidence full details of each Invention (whether or not it was made, devised or discovered during normal working hours or using the
            facilities of the Company or the Listed Company), to enable the Company to determine whether rights to such Invention vest in the Company,
            upon the making, devising or discovering of the same and shall at the expense of the Company give all such explanations, demonstrations
            and instructions as the Company may deem appropriate to enable the full and effectual working, production and use of the same.

   

  		18.3	The Executive hereby assigns (in so far as title has not automatically vested in the Company through the
          Executive’s employment) to the Company with full title guarantee by way of future assignment all copyright, database right, design
          right and other similar rights for the full terms (including any extension or renewals thereof) thereof throughout the world in respect
          of all works, designs or materials (including, without limitation, source code and object code for software) originated, conceived, written
          or made by the Executive during the period of his employment (except only

   

  

  
  
    	 	16	 

  

  
    	 

  

  
  those
    works or designs originated, conceived, written or made by the Executive wholly outside his normal working hours which are wholly unconnected
    with any business activity undertaken or planned to be undertaken by the Company, the Listed Company or any other Group Company) to hold
    unto the Company absolutely. The aforementioned assignment shall include the right to sue for damages and/or other remedies in respect
    of any infringement (including prior to the date hereof).

   

  		18.4	The Executive hereby irrevocably and unconditionally waives in favor of the Company for any work in which
          copyright or design right is vested in the Company whether by this clause 18 or otherwise.

   

  		18.5	The Executive shall, without additional payment to him (except to the extent provided by applicable law)
          at the request and expense of the Company and whether or not during the continuance of his employment, promptly execute all documents
          and do all acts, matters and things as may be necessary or desirable to enable the Company or its nominee to obtain, maintain, protect
          and enforce any Intellectual Property Right vested in the Company in any or all countries relating to the Intellectual Property Right
          and to enable the Company to exploit any Intellectual Property Right vested in the Company.

   

  		18.6	The Executive shall not do anything (whether by omission or commission) during his employment or at any time thereafter to affect
          or imperil the validity of any Intellectual Property Right obtained, applied for or to be applied for by the Company, the Listed Company
          or their nominees, and in particular the Executive shall not disclose or make use of any Invention which is the property of the Company
          or the Listed Company without the prior written consent of the Company. The Executive shall during or after the termination of his employment
          with the Company, at the request and expense of the Company, provide all reasonable assistance in obtaining, maintaining and enforcing
          such Intellectual Property Right or in relation to any proceeding relating to the Company’s or the Listed Company’s right,
          title or interest in any such Intellectual Property Right.

   

  		18.7	Without prejudice to the generality of the above clauses, the Executive hereby irrevocably authorizes the
          Company to appoint a person to be his attorney in his name and on his behalf to execute any documents and do any acts, matters or things
          as may be necessary for or incidental to grant the Company the full benefit of the provisions of this clause 18.

   

  		18.8	The obligations of the Executive under this clause 18 shall continue to apply after the termination of
          his employment (howsoever terminated).

   

  		18.9	For the avoidance of doubt, nothing in this Agreement shall oblige the Company (or the Listed Company or
          any other Group Company) to seek protection for or exploit any Intellectual Property Right.

   

  

  
  
    	 	17	 

  

  
    	 

  

  
  		19.	GRIEVANCE
              AND DISCIPLINARY PROCEDURES

   

  19.1 In the
    event of the Executive wishing to seek redress of any grievance relating to his employment he should lay his grievance before the Board
    or the board of directors of the parent company of any group of which the Company or the Listed Company is a member from time to time
    (in this clause 19, “Ultimate Board”) in writing, who will afford the Executive the opportunity of a full hearing before the
    board or a committee of the board or the Ultimate Board (as appropriate) whose decision on such grievance shall be final and binding.

   

  19.2 The Company’s and the
    Listed Company’s usual disciplinary procedures do not apply to the Executive. In the event that any disciplinary action is to be
    taken against the Executive, any hearing in respect thereof will be conducted by such director of the Company, the Listed Company or the
    parent company of any group of which the Company or the Listed Company is a member from time to time as the Board or the Ultimate Board
    may in its reasonable discretion nominate. If the Executive seeks to appeal against any disciplinary action taken against him he should
    do so to the Ultimate Board submitting full written grounds for his appeal to the Chairman of the Ultimate Board within 7 days of the
    action appealed against. The decision of the Ultimate Board or a delegated committee thereof shall be final and binding. For the avoidance
    of doubt, the Executive has no contractual right to either a disciplinary hearing or appeal.

   

  19.3 The Company may in its absolute
    discretion suspend the Executive from some or all of his duties (and if applicable, from the Board) and/or require him to remain away
    from work during any investigation conducted into an allegation relating to the Executive’s conduct or performance. During such
    period, the Executive’s salary will continue to be paid and he will continue to be entitled to all benefits provided to him, including
    participating in any relevant bonus or share option schemes subject always to the rules of those schemes.

   

  		20.	GENERAL

   

  20.1 No failure or delay by either
    party in exercising any right, power or privilege under this Agreement shall operate as a waiver thereof nor shall any single or partial
    exercise by either party of any right, power or privilege hereunder preclude any further exercise thereof or the exercise of any other
    right, power or privilege.

   

  20.2 The Executive shall have no
    claim against the Company, the Listed Company or any other Group Company in respect of the termination of his employment hereunder in
    relation to any provision in any Stock Incentive Plan which has the effect of requiring the Executive to sell, transfer or give up any
    shares, securities, options or rights issued to him thereunder at any price or which causes any options or other rights granted to him
    thereunder to become prematurely exercisable or to lapse by reason of his termination or because he has given or received notice of termination.

   

  20.3 Any term of any collective
    agreements which may affect adversely (against the Executive) the terms and conditions of the employment of the Executive hereunder shall
    not be applicable.

   

  20.4 For the avoidance of doubt
    any payments made to or other benefits provided to the Executive or his family which are not expressly referred to in this Agreement shall
    be regarded as payments or benefits provided in the ordinary course of business of the Company and, unless express notice of revocation
    of such payments or benefits is given to the Executive, they shall be deemed to form part of the Executive’s contract of employment.

   

  

  
  
    	 	18	 

  

  
    	 

  

  
  		20.5 If	any clause or provision in this Agreement is found by a court of competent jurisdiction or other competent authority to be invalid,
          unlawful or unenforceable then such clause or provision shall be severed from the remainder of the Agreement or clause and that remainder
          shall continue to be valid and enforceable to the fullest extent permitted by law. In that case, the Parties shall negotiate in good faith
          to replace any invalid, unlawful or unenforceable clause or provision with a suitable substitute clause or provision which maintains as
          far as possible the purpose and effect of this Agreement.

   

  		20.6	This Agreement may be executed in any number of counterparts, each of which when executed, shall be an
          original, and all the counterparts together shall constitute one and the same instrument. Delivery of an executed signature page of a
          counterpart by facsimile transmission or by electronic mail in Adobe TM Portable Document Format (PDF), shall take effect as delivery
          of an executed counterpart of this Agreement.

   

  20.7       No
      term of this Agreement is enforceable by a third party who is not a party to this Agreement.

   

  		20.8	No amendment, modification or waiver of this Agreement or any of its provisions shall be binding upon the
          Parties hereto unless made in writing and duly signed by the Parties.

   

  		20.9	Any amendment or change on the
            applicable law including without limitation tax and social security laws occurring after the date of this Agreement which may adversely
            affect any amount payable to the Executive by the Company under this Agreement, shall be for the Company’s account in its capacity
            as employer which shall be obliged to gross up any such amount payable to the Executive accordingly so that the net amount received by
            the Executive from time to time remains the same.

   

  		21.	NOTICES

   

  21.1 Without prejudice to any
    other mode of service provided under the law, any notice or communication given or required under this Agreement may be served by personal
    delivery or by leaving the same at or by sending the same through the recognized international overnight delivery service in the case
    of the Company to its registered office from time to time and in the case of the Executive to his aforesaid address or to the address
    provided from time to time by the Executive to the Company for the purposes of its employment records.

   

  21.2 Any notice sent by recognized
    international overnight delivery service shall be deemed to have been served 3 business days after the time of depositing such notice
    with the recognized international overnight delivery service for next day delivery.

   

  

  
  
    	 	19	 

  

  
    	 

  

  
  		21.3 Process	agent (antiklitos). The
            Company irrevocably appoints Ms. Lida Papadi, presently at 3-5, Menandrou Street, Kifisia, Athens, 14561 Greece, to act as its agent to
            receive and accept on its behalf any process or other document relating to any proceedings in the Greek courts which are connected with
            this Agreement.

   

  		22.	EXTENT AND SUBSISTENCE OF AGREEMENT

   

  22.1 The Parties hereby agree that,
    as of the Effective Date, the terms and provisions of the Prior Employment Agreement be and are hereby amended and restated in their entirety
    by the terms, conditions and provisions of this Agreement, and the terms and provisions of the Prior Employment Agreement are superseded
    by this Agreement.

   

  22.2 This Agreement supersedes all
    other agreements other than those expressly referred to in this Agreement whether written or oral between the Company and the Executive
    relating to the employment of the Executive. The Executive acknowledges and warrants to the Company that he is not entering into this
    Agreement in reliance upon any representation not expressly set out herein.

   

  		23.	GOVERNING LAW AND JURISDICTION

   

  23.1 This Agreement and any dispute
    or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall
    be governed by and construed in accordance with Greek law. In case of conflict between the terms of this Agreement and the provisions
    of Greek law, this Agreement shall prevail to the extent that its terms are more favorable for the Executive.

   

  23.2 The Parties agree to submit to
    the exclusive jurisdiction of the Courts of Piraeus, Greece as regards any dispute or claim arising out of or in connection with this
    Agreement or its subject matter or formation (including non-contractual disputes or claims).

   

  IN WITNESS whereof a
      duly authorized representative of the Company and the Executive have executed this Agreement on the 8th
    day of May 2020 and hereby confirm that this Agreement is effective as of the Effective Date.

   

  	EXECUTED by the Company	 	 	 
	acting by Georgios Giouroukos, a Director	)	/s/ Georgios Giouroukos	 
	the said Anastasios Psaropoulos	)	 	 
	)	/s/ Anastasios Psaropoulos	 
	COUNTERSIGNED, AGREED and	)	 	 
	 	 	 
	ACCEPTED by the Listed Company	 	 	 
	acting by Ian Webber and Thomas Lister	)	/s/ Ian Webber	 
	 	)	/s/ Thomas Lister	 
	 	 		 

  
  
    	 	20	 

  

  
    	 

  

  
  Exhibit
        A

   

  Leadership and strategic direction

   

  		•	To develop a financial strategy
            and to monitor implementation of such strategy in discussion with the Listed Company Group Executive Chairman, CEO and CCO.

   

  		•	To prepare strategic recommendations to the Board of the
            Company and the Listed Company.

   

  		•	To supervise and control the Company’s and the Listed
            Company’s financials, accounting and treasury.

   

  		•	To establish and develop relations
            with the Listed Company’s senior management, stakeholders (shareholders, analysts, creditors) and external parties (future investors,
            lawyers, advisors).

   

  		•	To provide leadership, direction and management of the Listed
            Company’s finance and accounting team.

   

  		•	To manage the processes for financial forecasting, controls
            and budgets, and oversee the preparation of all financial reporting.

   

  		•	To undertake long-term planning
            and establish business objectives, including strategic business plans, financial and other business objectives.

   

  		•	To represent the Company and
            the Listed Company at the highest level including to the government, regulatory authorities, the media, prospective investors, company
            stakeholders and the general public.

   

  Operations and controls

   

  		•	To work with the Listed Company Group Executive Chairman,
            CEO and CCO to:

   

  		•	Search for possible fixtures
            for the Group Companies’ vessels and negotiate-conclude the relevant charterparties to achieve maximum income and handle any matter
            relating to the vessels’ charterparties always in accordance with the relevant instructions.

   

  		•	Search for investments for the
            company to assist growth and mainly to search for possible acquisitions/selling of vessels and fleets, negotiate the terms of such ship
            sale and purchase agreements and conclude such and handle any matter relating to the ship sale and purchase agreements always in accordance
            with the relevant instructions.

   

  		•	Negotiate the terms of shipbuilding, retrofitting and repair
            contracts for the Group Companies’ vessels and conclude such contracts, as well as handle any matter relating thereto.

   

  

  
  
    	 	21	 

  

  
    	 

  

  
  		•	Monitor
            the collection of charter-hires payable in accordance with the Group Companies’ vessels charterparties and the payment of any amount
            due under the Group Companies’ vessels shipbuilding, retrofitting and repair contracts.

   

  		•	Search for possible M&As.

   

  		•	Search for finance of new acquisitions or refinance of existing
            indebtedness.

   

  		•	Initiate equity or debt raising.

   

  		•	Perform meetings with investors in respect of equity/debt
            raisings.

   

  		•	Perform non-deal roadshows with respect to investor relations.

   

  		•	Participate in Company and Listed Company quarterly result
            conference calls and investor calls.

   

  		•	Present the Company and Listed Company in industry events.

   

  		•	Communicate with shareholders.

   

  		•	Monitor budget and performance of the Company and the Listed
            Company.

   

  		•	Monitor cash balances and cash forecasts of the Company
            and the Listed Company.

   

  		•	Monitor the efficient operation of the Company and the Listed
            Company.

   

  		•	Review the Listed Company’s public filings.

   

  		•	Prepare the financial statements for the Company and the Listed
            Company in accordance with all regulatory requirements.

   

  		•	Perform risk management by analyzing the Company’s
            and the Listed Company’s liabilities and investments.

   

  		•	Ensure compliance with tax law and coordinate and produce
            all tax documentation as required.

   

  Reporting

   

  		•	To supervise with the Listed Company Group Executive Chairman,
            CEO, and CCO to:

   

  		•	Report to the board regularly
            on the operation of the Company’s and Listed Company’s businesses both at board meetings and at other times.

   

  		•	Provide such information to the
            board as they may require in order for the board to assess the performance of the business and the achievement of the agreed strategy
            and budget.

   

  

  
  
    	 	22

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}]]