Document:

SHLM-2014.08.31-EX-10.10

Exhibit 10.10

Director Compensation 
  
Each director of A. Schulman, Inc. (the “Corporation”) who is not an employee of the Corporation shall receive an annual retainer fee of $160,000 for attending up to 24 meetings per fiscal year.  For each meeting attended in excess of 24 meetings in a calendar year, each director shall receive an additional per meeting fee of $1,500.  Directors with significant additional duties shall receive the following additional retainers: (i) $20,000 for the lead independent director; (ii) $17,500 for the Audit Committee and Compensation Committee chairperson; and (iii) $10,000 for all other committee chairpersons.  Non-employee directors are also eligible for grants under the Corporation’s equity award plans.Exhibit 10.82

 

	MEMORANDUM
    OF AGREEMENT	 	
        Norwegian Shipbrokers’ Association’s
        Memo-

        randum of Agreement for sale and purchase
        of

        ships Adopted by the The Baltic and International

        Maritime Council (BIMCO) in 1956

        Code-name

        SALEFORM 1993

        Revised 1966 1983 and 1986-87

	 	 
	Dated: 14TH AUGUST 2014	 
	 	 
	 	 
	 	 
	 	 

 

ADVENTURE NINE S.A. Majuro, Marshall
Islands

hereinafter called the Sellers have agreed
to sell and

Messrs Mirae Shipping (H.K.) Co Ltd.,
for a company to be nominated, (See also clause 20)

hereinafter called the Buyers, have agreed
to buy

 

Name M/V FREE IMPALA

 

Classification Society/Class: BUREAU
VERITAS

 

	Built:    1997	By:     Shanghai Shipyard, P.R. China
	 	 
	Flag:     Bahamas 	Place of registration:     Nassau
	 	 
	Call Sign:     C6UF9 	Grt/Nrt:     15,888 / 8,036

 

Register IMO Number:   9138680

 

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

 

Definitions

 

“Banking days” are days on
which banks are open both in the country of the currency stipulated for the Purchase Price in Clause 1 in London UK, Nassau
Bahamas and in the place of closing stipulated in Clause 8.

 

“In writing” or written”
means a letter handed over from the Sellers to the Buyers or vice versa a registered letter, telex, telefax or other modern form
of written communication.

 

“Classification Society” or
“Class” means the Society referred to in line 4.

 

1.           Purchase
price US$ 3,600,000 (United States Dollars Three Million Six Hundred Thousand) cash on delivery.

 

2.          Deposit

 

As security for the correct fulfilment
of this Agreement the Buyers shall pay a deposit of 10% (ten per cent) of the Purchase Price within 3 (three) banking
days from the date of this Agreement will have been signed/exchanged by fax or e-mail by both the Buyers and the
Sellers. This deposit shall be placed with paid directly to the following Sellers’ bank account Bank: National
Bank of Greece, Address: 2, Bouboulinas street & Akti Miaouli, Swift: ETHNGRAA, IBAN No. GR4601101962000019630035152 Beneficiary:
Adventure Nine SA and held by them in a join account for the Sellers and the Buyers to be released in accordance with
joint written instructions of the Sellers and the Buyers Interest if any, to be credited to the Buyers. Any fee charged for holding
the said deposit shall be borne equally by the Sellers and the Buyers The deposit shall be considered ipso facto released
to Sellers upon execution of the Protocol of Delivery and Acceptance between Sellers and Buyers.

 

3.          Payment

 

The said balance of the
Purchase Price shall be paid in full free of bank charges to the following Sellers’ bank account Bank: National Bank
of Greece, Address: 2, Bouboulinas street & Akti Miaouli, Swift: ETHNGRAA, IBAN No. GR4601101962000019630035152, Beneficiary:
Adventure Nine SA on delivery of the Vessel, but not later than 3 banking days after the Vessel is in every respect physically
ready for delivery in accordance with the terms and conditions of this Agreement and Notice of Readiness has been given in accordance
with Clause 5 

 

    	 

    	 

    

  

Buyers undertake to remit funds to Sellers’ nominated bank latest two business days prior to delivery, which
funds to remain under the control of the Buyers pending transfer to Sellers’ nominated account. When the balance Purchase
Price will have been credited to Sellers nominated bank account, the Sellers shall hand over to the Buyers all documents to be
delivered from their side as per Addendum No. 1, in exchange of Buyers’ delivery documents.

 

		4.	Inspections

 

		a)*	The Buyers have inspected and accepted
                                         the Vessel’s classification records. The Buyers have waived inspection of
                                         the Vessel. also inspected the Vessel at/in .....................
                                         on ..................... and have accepted the Vessel
                                         following this inspection and The sale is outright and definite subject only
                                         to the terms and conditions of this Agreement.

 

		b)*	The Buyers shall have the right
                                         to inspect the Vessel’s classification records and declare whether same are accepted
                                         or not within

 

The Sellers shall provide
for inspection of the Vessel at/in

 

The Buyers shall undertake
the inspection without undue delay to the Vessel. Should the Buyers cause undue delay they shall compensate the Sellers for the
losses thereby incurred. The Buyers shall inspect the Vessel without opening up and without cost to the Sellers. During the inspection
the Vessel’s deck and engine log books shall be made available for examination by the Buyers. If the Vessel is accepted
after such inspection, the sale shall become outright and definite, subject only to the terms and conditions of this Agreement
provided the Sellers receive written notice of acceptance from the Buyers within 72 hours after completion of such inspection.
Should notice of acceptance of the Vessel’s classification records and of the Vessel not be received by the Sellers as aforesaid
the deposit together with interest earned shall be released immediately to the Buyers, whereafter this Agreement shall be null
and void.

 

		*	4a) and 4b) are alternatives;
                                         delete whichever is not applicable. In the absence of deletions alternative 4a) to apply

 

		5.	Notices, time and place of delivery

 

		a)	The Sellers shall keep the Buyers
                                         well informed of the Vessel’s itinerary and shall provide the Buyers with
                                         15, 10, 5, and 3 days approximate notice and 1
                                         days definite notice of the anticipated date of tendering Notice of Readiness for
                                         of the estimated time of arrival at the intended place of drydocking/underwater
                                         inspection/ delivery. When the Vessel is at the place of delivery and in every
                                         respect physically ready for delivery in accordance with this Agreement, the Sellers
                                         shall give the Buyers a written Notice of Readiness for delivery Notices to be sent
                                         by e-mail/fax via brokers.

 

		b)	The Vessel shall be delivered and taken over safety afraid at a safe and accessible being of anchorage
at/in San Carlos anchorage, Philippines.

 

in the Sellers’
option.

 

Expected time of delivery: 1st
September – 30th September 2014, exact date in Sellers’ option.

 

Date of cancelling (see Clauses
5 c), 6 b) (iii) and 14): 30th September 2014, in Buyers’ option

 

		c)	If the Sellers anticipate that, notwithstanding
                                         the exercise fo due diligence by them, the Vessel will not be ready for delivery by the
                                         cancelling date they may notify the Buyers in writing stating the date when they anticipate
                                         that the Vessel will be ready for delivery and propose a new cancelling date. Upon receipt
                                         of such notification the Buyers shall have the option of either cancelling this Agreement
                                         in accordance with Clause 14 with 2 7 running days of receipt of the
                                         notice or of accepting the new date as the new cancelling date. If the Buyers have not
                                         declared their option with 2 7 running days of receipt of the Sellers’ notification
                                         or if the Buyers accept the new date, the date proposed in the Sellers’ notification
                                         shall be deemed to be the new cancelling date and shall be substituted for the cancelling
                                         date stipulated in line 61.

 

    	 

    	 

    

  

If this Agreement is maintained
with the new cancelling date all other terms and conditions hereof including those contained in Clauses 5 a) and 5 c) shall remain
unaltered and in full force and effect. Cancellation or failure to cancel shall be entirely without prejudice to any claim for damages
the Buyers may have under Clause 14 for the Vessel not being ready by the original cancelling date.

 

		d)	Should the Vessel become an actual,
                                         constructive or compromised total loss before delivery the deposit together with
                                         interest earned shall be released immediately to the Buyers whereafter this
                                         Agreement shall be null and void.

 

		6.	Drydocking/Divers Inspection – See clause 17

 

		a)**	The Sellers shall place the
                                         Vessel in drydock at the port of delivery for inspection by the Classification Society
                                         of the Vessel’s underwater parts below the deepest load line, the extent of the inspection
                                         being in accordance with the Classification Society’s rules. If the rudder, propeller,
                                         bottom or other underwater parts below the deepest load line are found broken, damaged
                                         or defective so as to affect the Vessel’s class, such defects shall be made good
                                         at the Sellers’ expense to the satisfaction of the Classification Society without
                                         condition/recommendation*.

 

		b)**	(i)          The
                                         Vessel is to be delivered without drydocking However, the Buyers shall have the right
                                         at their expense to arrange for an underwater inspection by a diver approved by the Classification
                                         Society prior to the delivery of the Vessel. The Sellers shall at their cost make the
                                         Vessel available for such inspection. The extent of the inspection and the conditions
                                         under which it is performed shall be to the satisfaction of the Classification Society.
                                         If the conditions at the port of delivery are unsuitable for such inspection, the Sellers
                                         shall make the Vessel available at a suitable alternative place near to the delivery
                                         port.

 

(ii)         If
the rudder, propeller, bottom or other underwater parts below the deepest load line are found broken, damaged or defective
so as to affect the Vessel’s class, then unless repairs can be carried out afloat to the satisfaction of the
Classification society, the Sellers shall arrange for the Vessel to be drydocked at their expense for inspection by the
Classification Society of the Vessel’s underwater parts below the deepest load line the extent of the inspection being
in accordance with the Classification Society’s rules. If the rudder, propeller, bottom or other underwater parts below
the deepest load line are found broken, damaged or defective so as to affect the Vessel’s class, such defects shall be
made good by the Sellers at their expense to the satisfaction of the Classification Society without
condition/recommendation.* In such event the Sellers are to pay also for the cost of the underwater inspection and the
Classification Society’s attendance.

 

		c)	(iii)        If
                                         the vessel is to be drydocked pursuant to Clause 6 b) (ii) and no suitable drydocking facilities
                                         are available at the port of delivery, the Sellers shall take the Vessel to a port where
                                         suitable drydocking facilities are available whether within or outside the delivery range
                                         as per Clause 5 b) Once drydocking has taken place the Sellers shall deliver the Vessel
                                         at a port within the delivery range as per Clause 5 b) which shall, for the purpose of this
                                         Clause, become the new port of delivery. In such event the cancelling date provided for
                                         in Clause 5 b) shall be extended by the additional time required for the drydocking and
                                         extra steaming, but limited to a maximum of 14 running days.

 

If the Vessel is drydocked
pursuant to Clause 6 a) or 6 b) above

 

(i)           the
Classification Society may require survey of the tailshaft system the extent of the survey being to the satisfaction of the Classification
surveyor. If such survey is not required by the Classification Society, the Buyers shall have the right to require the tailshaft
to be drawn and surveyed by the Classification Society, the extent of the survey being in accordance with the Classification Society’s
rules for tailshaft survey and consistent with the current stage of the Vessel’s survey cycle. The Buyers shall declare
whether they require the tailshaft to be drawn and surveyed not later than by the completion of the inspection by the Classification
Society. The drawing and refitting of the tailshaft shall be arranged by the Sellers. Should any parts of the tailshaft system
be condemned or found defective so as to effect the Vessel’s class, these parts shall be renewed or made good at the Sellers’
expense to the satisfaction of the Classification Society without condition/recommendation*.

 

    	 

    	 

    

  

(ii)           the
expenses relating to the survey of the tailshaft system shall be borne by the Buyers unless the Classification Society requires
such survey to be carried out in which case the Sellers shall pay these expenses. The sellers shall also pay the expenses if the
Buyers require the survey and parts of the system are condemned or found defective or broken so as to affect the Vessel’s
class.*

 

(iii)           the
expenses in connection with putting the Vessel in and taking her out of drydock, including the drydock dues and the Classification
Society’s fees shall be paid by the Sellers if the Classification Society issues any condition/recommendation* as a result
of the survey or if it requires survey of the tailshaft system. In all other cases the Buyers shall pay the aforesaid expenses, dues
and fees.

 

(iv)           The
Buyers’ representative shall have the right to be present in the drydock, but without interfering with the work or decisions
of the Classification surveyor.

 

(v)
          The Buyers shall have the right to have the underwater parts
of the Vessel cleaned and painted at their risk and expense without interfering with the Sellers or the Classifications
surveyor’s work, if any, and without affecting the Vessel’s timely delivery if however, the Buyers’ work in
drydock is still in progress when the Sellers have completed the work which the Sellers are required to do the additional
docking time needed to complete the Buyers’ work shall be for the Buyers’ risk and expense in the event that the
Buyers’ work requires such additional time, the Sellers may upon completion of the Sellers’ work tender Notice or
Readiness for delivery whilst the Vessel is still in drydock and the Buyers shall be obliged to take delivery in accordance
with Clause 3 whether the Vessel is in drydock or not and irrespective of Clause 5 b).

 

*          Notes,
if any, in the surveyor’s report which are accepted by the classification Society without condition/recommendation are not
to be taken into account.

 

**          6
a) and 6 b) are alternative: delete whichever is not applicable in the absence of deletions alternative 6 a) to apply.

 

7.         Spares/bunkers,
etc.

 

The Sellers shall deliver the vessel to
the Buyers with everything belonging to her on board and on shore. All spare parts and spare equipment including spare
tail end shaft(s) and/or spare propeller(s)/propeller blade(s), if and belonging to the Vessel at the time of inspection
and if not inspected at the time of delivery used or unused, whether on board or not shall become the Buyers property but
spares on order and to be excluded. There is a forward winch motor (windlass motor) in Singapore and a crane motor in Manila.
Both to be put at the disposal of Buyers by mutual arrangement. Forwarding charges if any, shall be for the Buyers account.
The Sellers are not required to replace spare parts including spare tail-end shaft(s) and spare propeller(s)/propeller blade(s)
which are taken out of spare and used as replacement prior to delivery, but the replaced items shall be the property of the Buyers.
The radio installation and navigational equipment shall be included in the sale without extra payment if they are the property
of the Sellers Unused stores and provisions shall be included in the sale and be taken over by the Buyers without extra payment.

 

The Sellers have the right to take ashore
crockery, plates, cutlery linen and other articles bearing the Seller’s flag or name, provided the replace same with similar
unmarked items Library, forms, etc exclusively for use in the Sellers’ vessel(s) shall be excluded without compensation Captain’s
Officers’ and Crew’s personal belongings including the slop chest are to be excluded from the sale as well as the
following additional items (including items on hire)/Managers’ property items) Sellers’ company forms/documents,
company’s manuals. ISPS, ISM an Quality documentation and correspondence.

 

The Buyers shall take over the
any remaining bunkers and unused lubricating oils on board the Vessel at the time of delivery without extra
payment in storage tanks and sealed drums and pay the current not market price (excluding barging expenses ) at the
part and date of delivery of the Vessel.

 

Payment under this Clause shall
be made at the same time and place and in the same currency as the Purchase Price.

 

    	 

    	 

    

  

8.          Documentation

 

The place of closing : Seller’s
nominated place in Greece. Closing fees to be split equally between Sellers and Buyers.

 

Sellers to supply documents at closing
as may be reasonably required for the legal transfer of title and the Vessel’s registration under Buyer’s intended
flag and Buyers to supply corporate documents and authorities evidencing good standing and authority of signatory representing
Buyers at closing. A list of required documents to be mutually agreed and be incorporated by way of addendum which however shall
not affect nor delay the payment of the deposit as per Clause 2 herein.

 

In exchange for payment of the
Purchase Price the Sellers shall furnish the Buyers with delivery documents, namely:

 

		a)	Legal bill of sale in a form
                                         recordable in                            (the country in which the Buyers are to register the Vessel), warranting
                                         that the Vessel is free from all encumbrances, mortgages and maritime liens or any other
                                         debts or claims whatsoever, duly notarially attested and legalized by the consul of
                                         such country or other competent authority.

 

		b)	Current Certificate of Ownership
                                         issued by the competent authorities of the flag state of the Vessel.

 

		c)	Confirmation of Class issued
                                         within 72 hours prior to deliver.

 

		d)	Current Certificate issued by
                                         the competent authorities stating that the Vessel is free from registered encumbrances.

 

		e)	Certificate of Deletion of the
                                         Vessel from the Vessel’s registry or other official evidence of deletion appropriate to the Vessel’s registry at the time of delivery, or in the event that the registry
                                         does not as a matter of practice issue such documentation immediately, a written undertaking
                                         by the Sellers to effect deletion from the Vessel’s registry forthwith and furnish
                                         a Certificate or other official evidence of deletion to the Buyers promptly and
                                         latest within 4 (four) weeks after the Purchase Price has been paid and the Vessel has
                                         been delivered.

 

		f)	Any such additional documents
                                         as may reasonably be required by the competent authorities for the purpose of registering
                                         the Vessel, provided the Buyers notify the Sellers of any such documents as soon as possible
                                         after the date of this Agreement.

 

At the time of delivery the Buyers and
Sellers shall sign and deliver to each other a protocol of Delivery and Acceptance confirming the date and time of delivery of
the Vessel from the Sellers to the Buyers.

 

At the time of delivery the Sellers shall
hand to the Buyers the classification certificate(s) as well as all plans etc., (excluding ISM manuals SOPEP and SSP)
which are as on board the Vessel at the time of delivery. Other certificates which are on board
the Vessel shall also be handed over to the Buyers unless the Sellers are required to retain same in which case the Buyers to
have the right to take copies at time of delivery at Buyers’ time and expense. Other technical documentation
which may be in the Seller’s possession shall be promptly forwarded to be Buyers at their expense if they so request. The
Sellers may keep the Vessel’s log books but the Buyers to have the right to take copies of same for up to a period
of two (2) years prior to delivery date, at Buyer’s time and expense.

 

9.          Encumbrances

 

The Sellers warrant that the Vessel, at
the time of delivery is free from all charters encumbrances mortgages and maritime liens or any other debts whatsoever. The Sellers
hereby undertake to indemnify the Buyers against all consequences of claims made against the Vessel which have been incurred prior
to the time of delivery.

 

    	 

    	 

    

  

10.         Taxes,
etc.

 

Any taxes, fees and expenses in connection
with the purchase and registration under the Buyer’s flag shall be for the Buyer’s account, whereas similar charges
in connection with the closing of the Sellers’ register shall be for the Sellers account.

 

11.         Condition
on delivery

 

The Vessel with everything belonging to
her shall be at the Sellers risk and expense until she is delivered to the Buyers, but subject to the terms and conditions of
this Agreement she shall be delivered and taken over as she was at the time of inspection, fair wear and tear excepted
charter free, cargo free, on a strictly “as is/where is” basis at the time of delivery and with all
Vessel’s certificates to be delivered as on board at the time of delivery whether valid or expired. However, the
Vessel shall be delivered with her class maintained Sellers shall provide class maintained certificate under lay-up condition.
without condition/recommendation*, free of average damage affecting the Vessel’s class, and with her
classification certificates and national certificates, as well as all other certificates the Vessel had at the time of inspection,
valid and unextended without condition/recommendation* by Class or the relevant authorities at the time of delivery, “inspection”
in this Clause 11, shall mean the Buyers’ inspection according to Clause 4 a) or 4 b), if applicable, or the Buyers’
inspection prior to the signing of this Agreement. If the Vessel is taken ever without inspection, the date of this Agreement
shall be the relevant date.

No warranty is given or to be implied
as to the condition of the Vessel, her merchantability or fitness for purpose and implied warranties in respect thereof are expressly
excluded to the extent permitted by law.

		*	Notes. if any, in the surveyor’s report which
are accepted by the Classification Society without condition/recommendation are not to be taken into account.

 

12.         Name/markings

 

Upon delivery the Buyers undertake to change
the name of the Vessel and alter funnel markings.

 

13.         Buyers’
default

 

Should the deposit not be paid in accordance
with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their
losses and for all expenses incurred together with interest.

Should the Purchase Price not be paid
in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with
interest earned shall be ipso facts considered released to the Sellers. If the deposit does not cover their loss,
the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

 

14.         Seller’s
default.

 

Should the Sellers fail to give Notice
of Readiness in accordance with Clause 5 a) or fail to be ready to validly complete a legal transfer by the date stipulated in
line 61 the Buyers shall have the option of cancelling this Agreement provided always that the Sellers shall be granted a maximum
of 3 banking days after Notice of Readiness has been given to make arrangements for the documentation set out in the Addendum
to be executed Clause 8 If after Notice of Readiness has been given but before the Buyers have taken delivery
the Vessel ceases to be physically ready for delivery and is not made physically ready again in every respect by the date stipulated
in line 61 and new Notice of Readliness given, the Buyers shall retain their option to cancel. In the event that the Buyers elect
to cancel this Agreement the deposit together with interest earned shall be released to them immediately.

 

Should the Sellers fail to give Notice
of Readiness by the date stipulated in line 61 or fail to be ready to validly complete a legal transfer and aforesaid they shall
make due compensation to the Buyers for their loss and for all expenses together with interest if their failure is due to proven
negligence and whether or not the Buyers cancel this Agreement.

 

    	 

    	 

    

  

15.          Buyers’
representatives

 

After this Agreement has been
signed by both parties and the deposit has been lodged the Buyers have the right to place three two
representatives on board the Vessel during daylight (but not sleep on board) at their sole risk and expense Upon
arrival at                       on or about.

 

These representatives are on board for
the purpose of familiariastion and in the capacity of observers only and they shall not interfere in any respect with the operation
of the Vessel. The Buyers’ representatives shall sign the Sellers’ letter of indemnity prior to their embarkation.

 

16.         Arbitration

 

		a)*	This Agreement and relevant negotiations
                                         shall be governed by and constructed in accordance with English law and any dispute
                                         arising out of this Agreement shall be referred to arbitration in London in accordance
                                         with the Arbitration Acts 1950 and 1970 1996 or any statutory
                                         modification or re-enactment thereof for the time being in force. Three Arbitrators
                                         to be appointed, one arbitrator being appointed by each party and
                                         if both parties fail to appoint such a third Arbitrator same to be nominated by
                                         the President of the LMAA. On the receipt by one party of the nomination in writing
                                         of the other party’s arbitrator, that party shall appoint their arbitrator within
                                         fourteen days, failing which the decision of the single arbitrator appointed shall apply.
                                         If two arbitrators properly appointed shall not agree they shall appoint an umpire
                                         whose decision shall be final.

 

In cases where neither the
claim nor any counterclaim exceeds the sum of US Dollars One Hundred Thousand ($ 100,000.00) the arbitration shall be conducted
in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

 

		b)*	This Agreement shall be governed
                                         by and constructed in accordance with Title 9 of the United States Code and the Law of
                                         the State of New York and should any dispute arise out of this Agreement, the mater in
                                         dispute shall be referred to three persons at New York one to be appointed by each of
                                         the parties hereto, and the third by the two so chosen: their decision or that of any
                                         two of them shall be final, and for purpose of enforcing any award, this Agreement may
                                         be made a rule of the Court. The proceedings shall be conducted in accordance with the
                                         rules of the Society of Maritime Arbitrators, Inc. New York.

 

		c)	Any dispute arising out of this                                          Agreement
                                                                           shall be referred to arbitration at
                                                                                                                              
                                                                           subject to the procedures applicable there. The laws of                                          shall govern this
                                                                           Agreement.

 

		*	16 a), 16 b)
                                         and 16 c) are alternatives; delete whichever is not applicable. In the absence of deletions,
                                         alternative 16 a) to apply.

 

17. Underwater Inspection/Drydocking

 

No Dry docking, no underwater
inspection clause to apply.

 

18. Blacklisting

 

Sellers to confirm to the
best of their Knowledge that, during the period the Vessel has been in Seller’s ownership, the Vessel is not blacklisted
by any Nation or Country.

 

19. Confidentiality

 

All negotiations and any subsequent
terms of sale, including Buyers’ and Sellers’/Managers’ names to be kept strictly private and confidential by
all parties concerned. However should, despite the efforts of all parties involved, details of the sale become known or reported
on the market neither the Sellers nor the Buyers are to have the right to withdraw from the sale or to fail to fulfill all their
obligations under the agreed contract.

 

    	 

    	 

    

  

20. Normination/Guarantee

 

Messrs Mirae Shipping (H.K.) Co
Ltd. Entitled to nominate another company as the final buying company (by virtue of an Addendum to be entered into between the
Sellers, the Buyers and the final buying company under terms to be agreed) latest five business days after execution of this Agreement,
otherwise Messrs Mirae Shipping (H.K.) Co ltd. shall be considered as the buying company and sellers shall issue/execute all delivery
documents in their name. In case of nomination by Messrs Mirae Shipping (H.K.) Co Ltd. of another final buying company the former
shall always remain fully liable for the due and punctual performance of this Agreement by its nominee and in any case hereby
expressly and irrevocably guarantees such due and punctual performance of this Agreement by its nominee.

 

21. Entire Agreement 

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

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

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

 

For and on behalf of

MIRAE SHIPPING (H.K.) CO. LIMITED

 

	The Buyers	 	 
	/s/ K. Hiroshi	 	The Sellers 
	Authorized
    Signature(s)	 	 
	 	 	/s/
    Ion G. Varouxakis
	Name: K. HIROSHI	 	Name: Ion G. Varouxakis
	Title:	 	Title:

 

Copyright: Norwegian Shipbrokers’
Association, Oslo, Norway.

Printed and sold by S. Grupen A/S.
Halvorsen & Larsen, Oslo, Norway.

Fax: 47-22-25 28 69. Phone: 47-22-25 81
90.

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