Document:

Exhibit 4.46

    EXECUTION VERSION

    NOTE PURCHASE DEED – DEED OF AMENDMENT

    DEED OF AMENDMENT dated ____ October 2019

    BETWEEN:

    
      
        	(1)	
                TOP SHIPS INC. (as Issuer);

              

      

    

    
      
        	(2)	
                AMSTERDAM TRADE BANK N.V. (as Security Agent);

              

      

    

    
      
        	(3)	
                AMSTERDAM TRADE BANK N.V. (as Agent and Registrar);

              

      

    

    
      
        	(4)	
                AMSTERDAM TRADE BANK N.V. (as Note Purchaser);

              

      

    

    
      
        	(5)	
                ASTARTE INTERNATIONAL INC. (as Guarantor); and

              

      

    

    
      
        	(6)	
                SANTA CATALINA INC. (incorporated in the Republic of the Marshall Islands
                  with registered number 99145) and SANTA MONICA MARINE INC. (incorporated in the Republic of the Marshall Islands with registered number
                  99146) (each a New Guarantor and, together, the New
                    Guarantors).

              

      

    

    (each a Party and together the Parties).

    WHEREAS

    
      
        	A.	
                Pursuant to a Note Purchase Deed between the Issuer, the Security Agent, the Agent, the Registrar, the Note Purchaser and the Guarantor originally dated 21 March 2019 (as
                  amended and restated from time to time) (the Note Purchase Deed), the Issuer issued US$10,500,000 in principal amount of floating rate notes
                  (the Notes) to the Note Purchaser. The Note Purchaser holds all the Notes as at the date of this Deed of Amendment.

              

      

    

    
      
        	B.	
                The Parties have agreed to give effect to the amendments and waiver set out in this Deed of Amendment including, without limitation, the extension of the Final Maturity
                  Date of the Notes by 12 months and the assumption by the New Guarantors of joint and several obligations together with the Guarantor under the Note Purchase Deed.

              

      

    

    IT IS AGREED as follows:

    
      
        	1	
                Definitions and interpretation

              

      

    

    
      
        	1.1	
                Unless expressly defined otherwise herein, terms defined in the Note Purchase Deed have the same meaning when used in this Deed of Amendment.

              

      

    

    
      
        	1.2	
                The provisions of clause 1.1 (Definitions and interpretation) of the Note
                  Purchase Deed apply to this Deed of Amendment as though they were set out in full in this Deed of Amendment.

              

      

    

    
      
        	1.3	
                The Note Purchaser hereby confirms that it is the holder of all the Notes and it hereby agrees to, and (where applicable) hereby directs the Security Agent, the Agent and
                  Registrar to (and each of the Security Agent, Agent and Registrar does so), give effect to the amendments and grant the waiver set out in this Deed of Amendment.

              

      

    

    
      
        	2	
                Amendment and Waiver

              

      

    

    
      
        	2.1	
                With effect from the date of this Deed of Amendment, but subject to the satisfaction of the condition precedent in clause 5.1(x), the definition of Final Maturity Date
                  shall be deleted and replaced with the following, and such term shall be construed accordingly for all purposes in the Finance Documents with effect from the date of this Deed of Amendment:

              

      

    

    
      1

      
        

    

    

    

    EXECUTION VERSION

    “Final Maturity Date means
      31 March 2021 or such other date as agreed by the Issuer and Amsterdam Trade Bank N.V.”

    
      
        	2.2	
                Each of the Parties (other than the Issuer) consents to the raising by the Issuer of, cumulatively, up to US$15,000,000 (the Permitted Fundraising Limit) in additional equity capital from its shareholders in one or more fundraisings at any time on or after 30 June 2019 (each, a Permitted Fundraising) and, in respect of any Permitted Fundraising only (and subject always to the Permitted Fundraising Limit), waives the obligation of the Issuer
                  under clause 8.2(b) (Mandatory Redemption) of the Note Purchase Deed to make any prepayment of the Notes in consequence, or using the
                  proceeds, of such Permitted Fundraising. For the avoidance of doubt, any raising of equity capital by the Issuer that exceeds the Permitted Fundraising Limit, or that occurred prior to 30 June 2019, must comply with clause 8.2(b) (Mandatory Redemption) of the Note Purchase Deed, and is not waived by this clause.

              

      

    

    
      
        	2.3	
                Each of the Parties (other than the Issuer) consents to the application of the net proceeds of any such Permitted Fundraising (subject always to the Permitted Fundraising
                  Limit) towards the prepayment of the Family Trading Facility (or any other Financial Indebtedness owing by the Issuer to Family Trading Inc. or an Affiliate of Family Trading Inc.), or towards any dividend or other payment in respect of
                  any preferred shares of the Issuer held or acquired by Family Trading Inc. (or an Affiliate of Family Trading Inc.) and/or towards the Issuer’s general corporate purposes (including, without limitation, the funding of additional vessel
                  acquisitions).

              

      

    

    
      
        	2.4	
                The Guarantor consents to the amendments and waiver given pursuant to this Deed of Amendment and hereby waives all defences to which it might otherwise be entitled as a
                  result of the entry into and the performance of the terms of this Deed of Amendment. This waiver of defences is in addition to and without prejudice to the provisions of clause 14.4 (Waiver of Defences) of the Note Purchase Deed.

              

      

    

    
      
        	3	
                Guarantee and Indemnity

              

      

    

    
      
        	3.1	
                Guarantee and indemnity Each New Guarantor, jointly and severally with the other New Guarantor and the Guarantor, irrevocably and unconditionally:

              

      

    

    
      
        	

              	(a)	
                guarantees to the Security Agent (as trustee for the Finance Parties) and the other Finance Parties punctual performance by each other Obligor of all such Obligor’s
                  obligations under the Finance Documents;

              

      

    

    
      
        	

              	(b)	
                undertakes with the Security Agent (as trustee for the Finance Parties) and the other Finance Parties that whenever another Obligor (other than the Charterer) does not pay
                  any amount when due under or in connection with any Finance Document, it shall immediately on demand pay that amount as if it was the principal obligor; and

              

      

    

    
      
        	

              	(c)	
                agrees with the Security Agent (as trustee for the Finance Parties) and the other Finance Parties that if any obligation guaranteed by it is or becomes unenforceable,
                  invalid or illegal, it will, as an independent and primary obligation indemnify that Finance Party immediately on demand against any cost, loss or liability it incurs as a result of another Obligor (other than the Charterer) not paying
                  any amount which would, but for such unenforceability, invalidity or illegality, have been payable by such Obligor under any Finance Document on the date when it would have been due. The amount payable under this indemnity will not exceed
                  the amount that would have been payable under this clause 3.1 if the amount claimed had been recoverable on the basis of a guarantee.

              

      

    

    
      
        	3.2	
                Continuing guarantee

              

      

    

    This guarantee is a continuing guarantee and will extend to the ultimate balance of sums payable by any Obligor (other
      than the Charterer) under the Finance Documents, regardless of any intermediate payment or discharge in whole or in part.

    
      2

      
        

    

    

    

    EXECUTION VERSION

    

    

    
      
        	3.3	
                Reinstatement

              

      

    

    If any discharge, release or arrangement (whether in respect of the obligations of any Obligor or any security for those
      obligations or otherwise) is made by a Finance Party in whole or in part on the basis of any payment, security or other disposition which is avoided or must be restored in insolvency, liquidation, administration or otherwise, without limitation, then
      the liability of the New Guarantors under this clause 3 will continue or be reinstated as if the discharge, release or arrangement had not occurred.

    
      
        	3.4	
                Waiver of defences

              

      

    

    The obligations of each New Guarantor under this clause 3 will not be affected by an act, omission, matter or thing
      (whether or not known to it or any Finance Party) which, but for this clause 3, would reduce, release or prejudice any of its obligations under this clause 3 including (without limitation):

    
      
        	

              	(a)	
                any time, waiver or consent granted to, or composition with, any Obligor or other person;

              

      

    

    
      
        	

              	(b)	
                the release of any other Obligor or any other person under the terms of any composition or arrangement with any creditor of any other Obligor;

              

      

    

    
      
        	

              	(c)	
                the taking, variation, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up or enforce, any rights against, or security over assets of,
                  any Obligor or other person or any non-presentation or non-observance of any formality or other requirement in respect of any instrument or any failure to realise the full value of any security;

              

      

    

    
      
        	

              	(d)	
                any incapacity or lack of power, authority or legal personality of or dissolution or change in the members or status of an Obligor or any other person;

              

      

    

    
      
        	

              	(e)	
                any amendment, novation, supplement, extension, restatement (however fundamental and whether or not more onerous) or replacement of any Finance Document or any other
                  document or security including without limitation any change in the purpose of, any extension of or any increase in any facility or the addition of any new facility under any Finance Document or other document or security;

              

      

    

    
      
        	

              	(f)	
                any unenforceability, illegality or invalidity of any obligation of any person under any Finance Document or any other document or security; or

              

      

    

    
      
        	

              	(g)	
                any insolvency or similar proceedings.

              

      

    

    
      
        	3.5	
                New Guarantor’s intent

              

      

    

    Without prejudice to the generality of clause 3.4, each New Guarantor expressly confirms that it intends that this
      guarantee shall extend from time to time to any (however fundamental) variation, increase, extension or addition of or to any of the Finance Documents and/or any facility or amount made available under any of the Finance Documents.

    
      
        	3.6	
                Immediate recourse

              

      

    

    Each New Guarantor waives any right it may have of first requiring any Finance Party (or any trustee or agent on its
      behalf) to proceed against or enforce any other rights or security or claim payment from any person before claiming from such New Guarantor under this clause 3. This waiver applies irrespective of any law or any provision of a Finance Document to the
      contrary.

    
      
        	3.7	
                Appropriations

              

      

    

    Until all amounts which may be or become payable by the Obligors (other than the Charterer) under or in connection with
      the Finance Documents have been irrevocably paid in full, each Finance Party (or any trustee or agent on its behalf) may:

    
      3

      
        

    

    

    

    EXECUTION VERSION

    

    

    
      
        	

              	(a)	
                refrain from applying or enforcing any other moneys, security or rights held or received by that Finance Party (or any trustee or agent on its behalf) in respect of those
                  amounts, or apply and enforce the same in such manner and order as it sees fit (whether against those amounts or otherwise) and the New Guarantors shall not be entitled to the benefit of the same; and

              

      

    

    
      
        	

              	(b)	
                hold in an interest-bearing suspense account any moneys received from a New Guarantor or on account of a New Guarantor’s liability under this clause 3.

              

      

    

    
      
        	3.8	
                Deferral of New Guarantor’s rights

              

      

    

    
      
        	

              	(a)	
                Until all amounts which may be or become payable by the Obligors (other than the Charterer) under or in connection with the Finance Documents have been irrevocably paid in
                  full and unless the Agent otherwise directs, each New Guarantor will not exercise any rights which it may have by reason of performance by it of its obligations under the Finance Documents or by reason of any amount being payable, or
                  liability arising, under this clause 3:

              

      

    

    
      
        	

              	(i)	
                to be indemnified by another Obligor;

              

      

    

    
      
        	

              	(ii)	
                to claim any contribution from any other guarantor of any Obligor’s obligations under the Finance Documents;

              

      

    

    
      
        	

              	(iii)	
                to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Finance Parties under the Finance Documents or of any other
                  guarantee or security taken pursuant to, or in connection with, the Finance Documents by any Finance Party;

              

      

    

    
      
        	

              	(iv)	
                to bring legal or other proceedings for an order requiring any Obligor to make any payment, or perform any obligation, in respect of which a New Guarantor has given a
                  guarantee, undertaking or indemnity under this clause 3;

              

      

    

    
      
        	

              	(v)	
                to exercise any right of set-off against any other Obligor; and/or (vi)to claim or prove as a creditor of any other Obligor in competition with any Finance Party.

              

      

    

    
      
        	

              	(b)	
                If a New Guarantor receives any benefit, payment or distribution in relation to such rights it will promptly pay an equal amount to the Agent for application in accordance
                  with the Payment Mechanics. This only applies until all amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full.

              

      

    

    
      
        	3.9	
                Additional security

              

      

    

    This guarantee is in addition to and is not in any way prejudiced by any other guarantee or security now or subsequently
      held by any Finance Party.

    
      
        	3.10	
                Deemed obligations of New Guarantors

              

      

    

    
      
        	

              	(a)	
                Each of the New Guarantors agrees to be bound by the terms and conditions of the Note Purchase Deed applicable to the Guarantor and the Obligors mutatis mutandis as if it were a party to the Note Purchase Deed in each such capacity with effect from the date of this Deed of Amendment, save in relation to the
                  creation or maintenance of any Security Interest on the basis that the obligations of the New Guarantors arising pursuant to this Deed of Amendment are not intended by the Parties to be, and are not, Secured Obligations.

              

      

    

    
      
        	

              	(b)	
                Subject as provided in clause 3.10(a), all of the representations and warranties set out in this Schedule 3 (Representations and Warranties of the Obligors) of the Note Purchase

              

      

    

    
      4

      
        

    

    

    

    EXECUTION VERSION

    

    

    Deed are deemed to be made by each New Guarantor on the date of this Deed of Amendment. The Repeating Representations are
      deemed to be made by each New Guarantor on the first day of each Interest Period.

    
      
        	

              	(c)	
                Each representation or warranty deemed to be made by each New Guarantor after the date of this Deed of Amendment shall be deemed to be made by reference to the facts and
                  circumstances existing at the date the representation or warranty is deemed to be made.

              

      

    

    
      
        	4	
                Continuing obligations

              

      

    

    
      
        	4.1	
                The provisions of the Note Purchase Deed and the other Finance Documents will, save to the extent amended and waived pursuant to this Deed of Amendment, continue and
                  remain in full force and effect.

              

      

    

    
      
        	5	
                Miscellaneous

              

      

    

    
      
        	5.1	
                On or prior to the date of this Deed of Amendment, each of the New Guarantors shall have provided to the Agent, or its duly authorised representative, all of the documents
                  and evidence listed below in form and substance satisfactory to the Agent:

              

      

    

    (i)          A copy of the
        constitutional documents of each New Guarantor;

    (ii)          A copy of a
        resolution of the board of directors of each New Guarantor (or, if applicable and duly evidenced, any committee of such board empowered to approve and authorise the following matters): (A) approving the terms of, and the transactions contemplated
        by, this Deed of Amendment and resolving that it will execute, deliver and perform its obligations hereunder; (B) authorising a specified person or persons to execute this Deed of Amendment on its behalf; and (C) authorising a specified person or
        persons, on its behalf, to sign and/or despatch all documents and notices to be signed and/or despatched by it under or in connection with this Deed of Amendment;

    (iii)          A specimen of
        the signature of each person authorised by the resolution referred to in (ii) above;

    (iv)          A copy of a
        resolution signed by all the holders of the issued shares in each New Guarantor approving the terms of, and the transactions contemplated by, this Deed of Amendment;

    (v)          A copy of a
        resolution of the board of directors of each corporate shareholder of each New Guarantor and each other relevant entity approving the terms of the resolution referred to in sub-clause (iv) above;

    (vi)          A certificate of
        each New Guarantor (signed by an authorised signatory) confirming that guaranteeing the Notes and entering into this Deed of Amendment would not cause any borrowing, guarantee, security or similar limit or restriction binding on it to be exceeded;

    (vii)          A copy of any
        power of attorney under which any person is appointed by any New Guarantor to execute this Deed of Amendment on its behalf;

    (viii)          A certificate
        of an authorised signatory of each New Guarantor certifying that each copy document relating to it is correct, complete and in full force and effect and has not been amended or superseded and that any such resolutions or power of attorney have not
        been revoked;

    (ix)          A goodstanding
        certificate from the Marshall Islands competent authority in respect of each New Guarantor;

    
      5

      
        

    

    

    

    EXECUTION VERSION

    

    

    (x)          Evidence that the
        existing Mortgages and related Registry filings have been amended to reflect the maturity date extension of the Notes as effected pursuant to Clause 2.1 of this Deed of Amendment; and

    (xi)          Duly executed
        process agent appointment letter in respect of the New Guarantors.

    
      
        	5.2	
                The Agent and the Issuer designate this Deed of Amendment to be a Finance Document.

              

      

    

    
      
        	5.3	
                Any term of this Deed of Amendment may be amended only with the consent of the Parties or waived only with the consent of the Parties (other than the party seeking the
                  waiver) and then such amendment, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.

              

      

    

    
      
        	5.4	
                If, at any time, any provision of this Deed of Amendment is or becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction, neither the
                  legality, validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision under the law of any other jurisdiction will in any way be affected or impaired.

              

      

    

    
      
        	5.5	
                No term of this Deed of Amendment is enforceable under the Contracts (Rights of Third Parties) Act 1999 by anyone other than a party to this Deed of Amendment.

              

      

    

    
      
        	6	
                Counterparts

              

      

    

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

    
      
        	7	
                Governing law

              

      

    

    This Deed of Amendment and all non-contractual obligations arising in any way whatsoever out of or in connection with this
      Deed of Amendment shall be governed by, and construed and take effect in accordance with, English law.

    
      
        	8	
                Jurisdiction

              

      

    

    
      
        	8.1	
                Jurisdiction of English courts

              

      

    

    
      
        	

              	(a)	
                The courts of England have exclusive jurisdiction to settle any dispute arising out of or in connection with this Deed of Amendment or any non-contractual obligations
                  connected with it (including a dispute regarding the existence, validity or termination of this Deed of Amendment) (a Dispute).

              

      

    

    
      
        	

              	(b)	
                The Parties agree that the courts of England are the most appropriate and convenient courts to settle Disputes and accordingly no Party will argue to the contrary.

              

      

    

    
      
        	

              	(c)	
                Notwithstanding clause 8.1(a) above, no Finance Party shall be prevented from taking proceedings relating to a Dispute in any other courts with jurisdiction. To the extent
                  allowed by law, the Finance Parties may take concurrent proceedings in any number of jurisdictions.

              

      

    

    
      
        	8.2	
                Service of process

              

      

    

    Without prejudice to any other mode of service allowed under any relevant law, each New Guarantor:

    
      
        	

              	(a)	
                irrevocably appoints:

              

      

    

    Top Properties (London) Limited

      247 Gray’s Inn Road

    
      6

      
        

    

    

    

    EXECUTION VERSION

    

    

    London WC1X 8QZ

      United Kingdom

    as that New Guarantor’s English process agent as its agent for service of process in relation to any proceedings before
      the English courts in connection with this Deed of Amendment and any Finance Document;

    
      
        	

              	(b)	
                agrees that failure by an agent for service of process to notify the relevant New Guarantor of the process will not invalidate the proceedings concerned; and

              

      

    

    
      
        	

              	(c)	
                if any person appointed as process agent for a New Guarantor is unable for any reason to act as agent for service of process, that New Guarantor must immediately (and in
                  any event within ten days of such event taking place) appoint another agent on terms acceptable to the Agent. Failing this, the Agent may appoint another agent for this purpose.

              

      

    

    IN WITNESS WHEREOF the parties hereto have
      caused this Deed of Amendment to be executed and delivered as a deed at the date and year first written above.

    THE ISSUER

    	
            EXECUTED and DELIVERED as a DEED by

            TOP SHIPS INC.

            acting by:

            in the presence of:

          	
            )

            )

            )

            )

          	
            .......................................................

            Attorney-in-fact

          

    

    

    

    

    .................................

    Witness name:

    Address:

    Occupation:

    
      7

      
        

    

    

    

    EXECUTION VERSION

    

    

    THE SECURITY AGENT

    	
            EXECUTED and DELIVERED as a DEED by

            AMSTERDAM TRADE BANK N.V.

            acting by:

          	
            )

            )

            )

            )

          	
            .......................................................

            Authorised signatory

             

            

            .......................................................

            Authorised signatory

          

    

    

    

    

    

    

    

    

    THE AGENT AND THE REGISTRAR

    	
            EXECUTED and DELIVERED as a DEED by

            AMSTERDAM TRADE BANK N.V.

            acting by:

          	
            )

            )

            )

            )

          	
            .......................................................

            Authorised signatory

             

            

            .......................................................

            Authorised signatory

          

    

    

    

    

    

    

    

    

    THE NOTE PURCHASER

    	
            EXECUTED and DELIVERED as a DEED by

            AMSTERDAM TRADE BANK N.V.

            acting by:

          	
            )

            )

            )

            )

          	
            .......................................................

            Authorised signatory

             

            

            .......................................................

            Authorised signatory

          

    

    

    

    

    

    

    

    

    THE GUARANTOR

    	
            EXECUTED and DELIVERED as a DEED by

            ASTARTE INTERNATIONAL INC.

            acting by:

            in the presence of:

          	
            )

            )

            )

            )

          	
            .......................................................

            Attorney-in-fact

          

    

    

    

    

    

    

    .................................

    Witness name:

    Address:

    Occupation:

    
      8

      
        

    

    

    

    EXECUTION VERSION

    

    

    THE NEW GUARANTORS

    	
            EXECUTED and DELIVERED as a DEED by

            SANTA CATALINA INC.

            acting by:

            in the presence of:

          	
            )

            )

            )

            )

          	
            .......................................................

            Attorney-in-fact

          

    

    

    

    

    .................................

    Witness name:

    Address:

    Occupation:

    

    

    	
            EXECUTED and DELIVERED as a DEED by

            SANTA MONICA MARINE INC.acting by:

            in the presence of:

          	
            )

            )

            )

            )

          	
            .......................................................

            Attorney-in-fact

          

    

    

    .................................

    Witness name:

    Address:

    Occupation:Exhibit 4.49

  

  

  

  
    

    

    SHARE PURCHASE AGREEMENT

    This Share Purchase Agreement (this "Agreement") is entered into as of December 18, 2019, by and between Hollywood Hills Inc., a
      Marshall Islands corporation (the "Seller"), and Top Ships Inc., a Marshall Islands corporation (the "Buyer"). The Seller and the Buyer are sometimes
      referred to in this Agreement as a "Party" and collectively as the "Parties."

    RECITALS

    WHEREAS, the Seller owns five hundred (500) shares, no par value, of capital stock (the "Shares"),
      representing all of the issued and outstanding shares of capital stock of Santa Catalina Inc. (the “Company”);

    WHEREAS, the Seller has entered into a shipbuilding contract, dated December 2, 2018, as the same has been amended or supplemented from
      time to time, with Hyundai Mipo Dockyard Co. Ltd., having its principal place of business at 100 Bangeojinsunhwan-Doro, Dong-Gu, Ulsan, Korea, for the construction and purchase of one 50,000 DWT Class Product / Chemical Tanker, identified by Hull No.
      2749 (the "Shipbuilding Contract"); and

    WHEREAS, the Seller desires to sell to the Buyer, and the Buyer desires to purchase from the Seller, all of the issued and outstanding
      capital stock of the Company (the “Investment Shares”), on the terms and conditions herein contained.

    WHEREAS, the disinterested directors of the board of directors of the Buyer (the “Board”)
      has unanimously determined that this Agreement and the transactions contemplated hereby and thereby are fair to and in the best interests of the Buyer and the shareholders of the Buyer (other than the Seller and its affiliates).

    NOW, THEREFORE, in consideration of the respective representations, warranties and agreements contained herein and for other good and
      valuable consideration the receipt and adequacy of which are hereby acknowledged, the Parties hereby agree as follows:

    ARTICLE I

      PURCHASE AND SALE OF THE INVESTMENT SHARES; CLOSING

    Section 1.1          Purchase and Sale of the Investment Shares. At the Closing (as defined below), subject to the terms and conditions herein contained, the Seller shall
      sell, convey, transfer, assign and deliver to the Buyer, and the Buyer shall purchase and acquire from the Seller, the Investment Shares, together with all rights and interests associated therewith.

    Section 1.2          Purchase Price. In consideration of the sale, conveyance, transfer, assignment and delivery of the Investment Shares at Closing, the Buyer shall
      deliver to the Seller the aggregate purchase price of 7.175 Million U.S. Dollars (US$7,175,000) (the "Purchase Price"), by wire transfer or by delivery of other immediately available funds to the below
      account:

    CREDIT SUISSE AG

      ZURICH, 8070, CH

    ACCOUNT HOLDER: CENTRAL MARE INC.

      ACCOUNT NUMBER:2193917-9

      IBAN (USD):CH37 0483 5219 3917 9200 0

      SWIFT CODE:CRESCHZZ80A

    

    

    Such Purchase Price shall be payable in two installments, 3.758 Million U.S. Dollars (US$3,757,500) shall be payable upon Closing (“First Installment”) and 3.417 Million U.S. Dollars (US$3,417,500)
      shall be payable upon delivery of tanker with Hull No. 2749 (“Second Installment”). All accrued and unpaid expenses relating to the construction and financing of said tanker will be borne by the Buyer. In case the tanker is not delivered within ten
      days of its contractual delivery date, or the tanker’s condition doesn’t exactly reflect the intended condition described in Article I, sections 1, 2 and 3 of the shipbuilding contract, or DNV GL Classification Society doesn’t classify the tanker or
      validate that its design is in accordance with DNV GL standards, then the Buyer won’t be obligated to pay the Second Installment and the Seller will be obligated to return the funds of the First Installment to the Buyer.

    

    

    Section 1.3          Closing. The consummation of the purchase and sale of the Shares (the “Closing”) shall take place at
      the Representative Office of Top Ships Inc, 1 Vas. Sofias and Meg. Alexandrou Str 15124 Maroussi, Greece, on the date hereof or on such later date as may be mutually agreed upon by the Parties, but in no event later than December 18, 2019 (the “Closing Date”).

    
      1

      
        

    

    Section 1.4          Deliverables. On the Closing Date, subject to the terms and conditions herein contained, (i) the Seller shall deliver to the Buyer the Investment
      Shares free and clear of any and all charges, claims, conditions, encumbrances, equitable interests, liens, mortgages, options, pledges, rights of refusal, security interests or restrictions of any kind, including any restrictions on use, voting,
      transfer, receipt of income, or exercise of any other attribute of ownership, in each case of any nature whatsoever (not including any restrictions on the resale of the Investment Shares under the Securities Act of 1933, as amended (the "Securities Act") or under applicable state securities laws) (collectively, "Liens"), in certificated form, registered in the name of the Buyer or its designated
      nominee (or, if applicable, stock powers duly executed in blank, proper form for transfer), together with any necessary assignment documents in form and substance as reasonably requested by the Buyer; and (ii) the Buyer shall pay the Purchase Price
      to the Seller.

    ARTICLE II

      REPRESENTATIONS AND WARRANTIES OF THE SELLER

    The Seller represents and warrants to the Buyer that the statements in the following sections of this Article II are true and correct as of the date of this Agreement and as of
      the Closing Date:

    Section 2.1          Organization and Good Standing. Each of the Seller and the Company is duly organized, validly existing and in good standing under the laws of the
      Republic of the Marshall Islands and has all requisite corporate power and authority to own, lease, operate and hold its respective properties and assets and to conduct its respective business as is now conducted and as currently contemplated to be
      conducted, and is authorized to do business in all jurisdictions material to the conduct of its respective business. The Seller has heretofore delivered to the Buyer complete and correct copies of the Articles of Incorporation, Bylaws or other
      charter documents ("Constitutional Documents") of the Company, in each case, as currently in effect, together with copies of all minutes of meetings and resolutions of shareholders and directors of the
      Company (the "Company Corporate Records"). The Company Corporate Records are accurate in all material respects and all corporate proceedings and actions reflected therein have been conducted or taken in
      compliance with all applicable laws and in compliance with the Company's Constitutional Documents. The Company is not in default under or in violation of its Constitutional Documents.

    Section 2.2          Authority and Enforceability. The Seller has the full legal right and requisite corporate power and authority and has taken all action
      necessary in order to execute, deliver and perform fully its obligations under this Agreement and to consummate the transactions contemplated herein. This Agreement has been duly and validly authorized, executed and delivered by the Seller and
      constitutes a valid and binding obligation of the Seller, enforceable against it in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, fraudulent transfer, moratorium or other similar laws relating to or
      affecting the rights of creditors generally and by equitable principles, including those limiting the availability of specific performance, injunctive relief and other equitable remedies and those providing for equitable defense.

    Section 2.3          Consents and Approvals; No Violation. Neither the execution and delivery of this Agreement by the Seller nor the consummation of the transactions
      contemplated by this Agreement will (i) conflict with or result in any breach of any provision of the Constitutional Documents of the Seller or the Company; (ii) require any consent, approval, authorization or permit of, or filing with or notification to, any national, federal, regional, state, multi-state, municipal or other governmental authority of any nature, including any court, subdivision, agency, commission or authority thereof, or any
        quasi-governmental body exercising any regulatory or taxing authority (any such governmental authority or body, a "Governmental Body"), other than
        those that have been made or obtained; (iii) cause the Seller or the Company to violate or contravene any provision of law, any rule or regulation of any Governmental Body, or any order, writ, judgment, injunction, decree, determination or award,
        binding upon or applicable to the Seller or the Company or their respective assets; (iv) result in a default (or give rise to any right of amendment, termination, cancellation, consent, acceleration or loss of a material benefit) under the terms,
        conditions or provisions of any loan or credit agreement, note, bond, mortgage, indenture, lease, sublease, license, obligation, commitment, purchase order or other agreement, commitment, instrument, permit, concession, or obligation, written or
        oral (each, a "Contract") to which the Seller or the Company or any of their respective assets may be bound, except in such cases where the
        requisite waivers or consents have been obtained; or (v) result in the creation of any Lien upon any of the properties or assets of the Seller or the Company under the terms, conditions or provisions of any Contract, instrument or other obligation
        to which the Seller or the Company or any of their respective assets may be bound or affected.

    Section 2.4          Capitalization. The Company is authorized to issue five hundred (500) shares, without par value, of capital stock. The Shares represent all of the
      issued and outstanding shares of capital stock of the Company. All of the Shares are duly authorized, validly issued, fully paid and non-assessable and are owned legally by the Seller. Other than this Agreement, there is no subscription, option,
      warrant, preemptive right, call right or other right, agreement or commitment of any nature relating to the voting, issuance, sale, delivery or transfer (including any right of conversion or exchange or right of first refusal under any outstanding
      security or other instruments) by the Seller of the Investment Shares, and there is no obligation on the part of the Seller to grant, extend or enter into any of the foregoing. There are no outstanding or authorized stock appreciation, phantom stock,
      profit participation or similar rights with respect to the Investment Shares or any other equity or voting interests in the Company. No claim has been made or, to the knowledge of the Seller, threatened against the Seller or the Company asserting
      that any person other than the Seller or its sole shareholder is the holder or beneficial owner of the Investment Shares or any other equity or voting interests in the Company.

    
      2

      
        

    

    

    

    Section 2.5          Ownership of the Investment Shares. The Seller is the sole legal owner and holder of, and has good, valid and marketable title to, the Investment
      Shares to be sold pursuant to this Agreement, free and clear of any Liens. At the Closing, the Seller will transfer, assign and deliver good and marketable title to the Investment Shares to the Buyer, free and clear of all Liens.

    Section 2.6          No Other Business. Since its formation, the Company has not incurred any liabilities or obligations or conducted any business other than the items
      listed on Schedule 2.6 hereto.

    Section 2.7          Contracts. The Company is not a party to any Contract other than the Shipbuilding Contract and the Time Charter (both as defined in Schedule 2.6).
      The Company has good and valid title to the Shipbuilding Contract, free and clear of any Liens. The Company has advanced two contract price installments amounting to $3,757,500 under the Shipbuilding Contract (true and complete evidence of which has
      been provided by the Seller to the Buyer). The Company is not in default under the Shipbuilding Contract, nor does an event exist which, with the giving of notice or lapse of time or both, would constitute such a default. To the Seller's knowledge,
      all other parties to the Shipbuilding Contract are in compliance with the terms thereof. The Shipbuilding Contract is in full force and effect and is enforceable against the Company and the other parties thereto in accordance with its terms except as
      enforceability may be limited by bankruptcy, insolvency, fraudulent transfer, moratorium or other similar laws relating to or affecting the rights of creditors generally and by equitable principles, including those limiting the availability of
      specific performance, injunctive relief and other equitable remedies and those providing for equitable defense. No consent (including the consent of any Governmental Body) or other action is required in order for the Shipbuilding Contract to remain
      in full force and effect, and for the Company to fully exercise its rights thereunder, following the Closing. The Seller has delivered or made available to the Buyer true and complete copies, including all amendments and supplements thereof, of the
      Shipbuilding Contract.

    Section 2.8          No Litigation. There is no action, suit, claim, investigation, litigation, legal, administrative, arbitration or other proceeding pending against the
      Seller or the Company, or, to the knowledge of the Seller, threatened against the Seller or the Company, nor is the Seller or the Company subject to or bound by any outstanding order, judgment, injunction, award or decree of any Governmental Body,
      relating to the Seller or the Company or any of their respective properties or assets or which questions the validity of this Agreement or any of the transactions contemplated hereby or any action taken or to be taken pursuant hereto or which seeks
      to prohibit, enjoin or otherwise challenge any of the transactions contemplated hereby.

    Section 2.9          No Unlawful Payments. Neither the Seller nor the Company, nor any director, shareholder, officer, agent, employee or other person associated with or
      acting on behalf of the Seller or the Company, as applicable, has: (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made any direct or indirect unlawful
      payment to any foreign or domestic government official or employee from corporate funds; or (iii) made any unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful payment to any supplier, customer, licensor, contractor,
      politician, government employee or other person.

    Section 2.10          Bank Accounts. Set forth on Schedule A is a complete and accurate list of all bank accounts, savings deposits, money-market accounts,
      certificates of deposit, safety deposit boxes, and similar investment accounts with banks or other financial institutions maintained by or on behalf of the Company showing the depository bank or institution address, appropriate bank contact
      personnel, account number and names of signatories.

    Section 2.11          Full Disclosure. No representation or warranty by the Seller in this Agreement and no statement contained in any document or other other writing
      furnished or to be furnished to the Buyer pursuant to the provisions hereof, when considered with all other such documents or writings, contain or will contain any untrue statement of material fact or omits or will omit to state any material fact
      necessary in order to make the statements made herein or therein not misleading.

    Section 2.12          Adequate Information. The Seller (i) has sufficient knowledge and experience in business, financial and investment matters so as to be able to
      evaluate the risks and merits of the sale of the Investment Shares and of protecting its own interests in connection with the sale of the Investment Shares; (ii) is a sophisticated person with respect to the sale of the Investment Shares; (iii) has
      adequate information concerning the business and financial condition, prospects and plans of the Company to make an informed decision regarding the sale of the Investment Shares; and (iv) has independently and without reliance upon the Buyer, and
      based on such information as the Seller has deemed appropriate, made its own analysis and decision to enter into this Agreement. The Seller acknowledges that the Buyer has not given the Seller any investment advice or opinion on whether the sale of the Investment Shares is prudent or suitable and the Seller is not relying on any representation or warranty by the Buyer except as expressly set forth in this Agreement.

    
      3

      
        

    

    Section 2.13          No General Solicitation. Neither the Seller nor any nominee thereof has offered any Investment Shares by any means of general solicitation or
      advertising (i) any advertisement, article, notice or other communication published in any newspaper, magazine, or similar media or broadcast over television or radio; or (ii) any seminar or meeting whose attendees have been invited by general
      solicitation or advertising.

    Section 2.14          No Brokers or Finders. No broker or finder has been engaged by the Seller in connection with the transactions contemplated in this Agreement, and no
      commission, finder's fees or other similar compensation or remuneration is payable to any person as a result of the Seller's actions in connection with the execution and delivery of this Agreement or the consummation of the transactions contemplated
      herein.

    Section 2.15          Exemption from Registration. The Investment Shares are being offered and sold pursuant to an exemption from the registration requirements of the
      Securities Act.

    ARTICLE III

      REPRESENTATIONS AND WARRANTIES OF THE BUYER

    The Buyer represents and warrants to the Seller that the statements in the following sections of this Article III are true and correct as of the date of this Agreement and as of the
      Closing Date:

    

    

    Section 3.1          Organization, Good Standing. The Buyer is duly organized, validly existing and in good standing under the laws of the Republic of the Marshall
      Islands, and has all corporate power and authority to own, lease, operate and hold its properties and assets and to conduct its business as is now conducted and as currently contemplated to be conducted, and is authorized to do business in all
      jurisdictions material to the conduct of its business.

    Section 3.2          Authority and Enforceability. The Buyer has the full legal right and requisite corporate power and authority and has taken all action necessary in
      order to execute, deliver and perform fully its obligations under this Agreement and to consummate the transactions contemplated herein. This Agreement has been duly and validly authorized, executed and delivered by the Buyer and constitutes the
      valid and binding obligation of the Buyer, enforceable against it in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, fraudulent transfer, moratorium or other similar laws relating to or affecting the
      rights of creditors generally and by equitable principles, including those limiting the availability of specific performance, injunctive relief and other equitable remedies and those providing for equitable defense.

    Section 3.3          Consents and Approvals; No Violation. Neither the execution and delivery of this Agreement by the Buyer nor the
      consummation of the transactions contemplated by this Agreement will (i) conflict with or result in any breach of any provision of the Buyer's Constitutional Documents; (ii) require any consent, approval, authorization or permit of, or filing with or
      notification to, any Governmental Body, other than those that have been made or obtained; (iii) cause the Buyer to violate or contravene any provision of law, any rule or regulation of any Governmental Body, or any order, writ, judgment, injunction,
      decree, determination or award, binding upon or applicable to the Buyer or its assets; (iv) result in a default (or give rise to any right of amendment, termination, cancellation, consent, acceleration or loss of a material benefit) under the terms,
      conditions or provisions of any Contract to which the Buyer or any of its assets may be bound, except in such cases where the requisite waivers or consents have been obtained; or (v) result in the creation of any Lien upon any of the properties or assets of the Buyer under the terms, conditions or provisions of any Contract, instrument or other obligation to which the Buyer or any of its assets may be bound or affected.

    Section 3.4          No Litigation. There is no action, suit, claim, investigation, litigation, legal, administrative, arbitration or other proceeding pending against the
      Buyer other than publicly disclosed or, to the knowledge of the Buyer, threatened against the Buyer, nor is the Buyer subject to or bound by any outstanding orders, judgments, injunctions, awards or decrees of any Governmental Body, other than
      publicly disclosed, which questions the validity of this Agreement or any of the transactions contemplated hereby or any action taken or to be taken pursuant hereto or which seeks to prohibit, enjoin or otherwise challenge any of the transactions
      contemplated hereby.

    Section 3.5          No Registration. The Investment Shares purchased by the Buyer pursuant to this Agreement are being acquired for investment purposes only and not with
      a view to any public distribution thereof in violation of any securities laws, and the Buyer shall not offer to sell or otherwise dispose of the Investment Shares so acquired by it in violation of any of the registration requirements of the
      Securities Act. The Buyer acknowledges that it is able to fend for itself, can bear the economic risk of its investment in the Investment Shares, and has such knowledge and experience in financial and business matters that it is capable of evaluating
      the merits and risks of an investment in all of the Investment Shares. The Buyer understands that, when issued to the Buyer at the Closing, none of the Investment Shares will be registered pursuant to the Securities Act and that all of the Investment
      Shares will constitute "restricted securities" under the federal securities laws of the United States. Each certificate for Investment Shares shall bear the following legend:

    
      4

      
        

    

    "THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY STATE SECURITIES OR BLUE SKY LAWS, AND MAY NOT BE SOLD,
      ASSIGNED, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF (I) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND COMPLIANCE WITH SUCH STATE LAWS OR (II) AN APPLICABLE EXEMPTION THEREFROM AND AN OPINION OF COUNSEL
      SATISFACTORY TO THE ISSUER THAT SUCH REGISTRATION IS NOT REQUIRED."

    Section 3.6          Independent Investigation. The Buyer has had the opportunity to conduct to its own satisfaction independent investigation, review and analysis of the
      business, operations, assets, liabilities, results of operations, financial condition and prospects of the Company and, in making the determination to proceed with the transactions contemplated hereby, has relied solely on the results of its own
      independent investigation and the representations and warranties of the Seller set forth in Article II hereof and the other information provided by the Seller.

    Section 3.7          No Brokers or Finders. No broker or finder has been engaged by the Buyer in connection with the transactions contemplated in this Agreement, and no
      commission, finder's fees or other similar compensation or remuneration is payable to any person as a result of the Buyer's actions in connection with the execution and delivery of this Agreement or the consummation of the transactions contemplated
      herein.

    ARTICLE IV

      COVENANTS

    Section 4.1          Conduct of Business Pending Closing. The Buyer and the Seller agree that between the date of the execution of this Agreement and the Closing Date,
      (i) the Seller shall, or shall cause the Company to, conduct the business and maintain and preserve the assets of the Company in the ordinary course of business; (ii) the Buyer and the Seller shall use their reasonable efforts to cause all of the
      representations and warranties in Article II and Article III hereof, as applicable to such Party, to continue to be true and correct; and (iii) the Company shall not incur any debt, or enter into any other Contract, without the Buyer's prior written
      approval.

    Section 4.2          Further Assurances. The Seller shall execute, acknowledge and deliver or cause to be executed, acknowledged and delivered to the Buyer such
      certificates, assignments or other instruments of ownership, transfer, assignment and conveyance, in form and substance reasonably satisfactory to Buyer, as shall be necessary to vest in the Buyer all of the right, title and interest in and to the
      Investment Shares undertaken to be sold to the Buyer by the Seller pursuant to this Agreement, free and clear of all Liens, debts, dues and duties of whatsoever nature, and any other document reasonably requested by the Buyer in connection with this
      Agreement.

    Section 4.3          Governmental Filings. As promptly as practicable after the execution of this Agreement, each Party shall, in cooperation with the other, file any
      reports or notifications that may be required to be filed by it under applicable law, if any.

    Section 4.4          Further Consents. After the Closing Date, the Seller shall obtain any consents or approvals or assist in any filings reasonably required in
      connection with the transactions contemplated hereby that are requested by Buyer and that have not been previously obtained or made.

    Section 4.5          Public Announcements. Neither Party shall, without the prior approval of the other Party, issue, or permit any of its partners, stockholders,
      directors, officers, employees, members, managers, agents to issue, any press release or other public announcement with respect to this Agreement or the transactions contemplated hereby, except as may be required by law or any Governmental Body to
      which the relevant Party is accountable.

    Section 4.6          Share Certificates of the Seller. The Seller covenants and agrees that, for so long as the Seller holds any shares of capital stock of the Company in
      bearer form, the Seller shall retain the share certificate evidencing such ownership in its sole possession.

    ARTICLE V

      CONDITIONS TO CLOSING

    Section 5.1          Conditions to Obligations of Seller. At the Closing, the obligation of the Seller to sell the Investment Shares to the Buyer is subject to the
      fulfillment at the Closing of the following conditions:

    
      5

      
        

    

    (a)          Accuracy of Buyer Representations and Warranties; Compliance. The representations and warranties of the Buyer contained in Article III of this Agreement
      shall be true and correct in all material respects at and as of the Closing Date as though then made, and Buyer shall have performed and complied in all material respects with all conditions and agreements required by this Agreement to be performed
      and complied with by it on or prior to the Closing Date.

    (b)          Legal Investment. On the Closing Date, the purchase and sale of the Investment Shares shall be permitted by the laws and regulations of each relevant
      jurisdiction.

    (c)          No Actions Pending. There shall be no suit, action, investigation, inquiry or other proceeding by any Governmental Body or other person or entity pending or
      threatened in writing that challenges, or has the effect of interfering with, the validity or legality of the transactions contemplated in this Agreement.

    Section 5.2          Conditions to Obligations of Buyer. The obligation of the Buyer to purchase the Investment Shares from the Seller is subject to the fulfillment at
      the Closing of the following conditions:

    (a)          Accuracy of Seller Representations and Warranties; Compliance. The representations and warranties of the Seller contained in Article II of this Agreement
      shall be true and correct in all material respects at and as of the Closing Date as though then made, and the Seller shall have performed and complied in all material respects, with all conditions and agreements required by this Agreement to be
      performed and complied with by it on or prior to the Closing Date.

    (b)          Legal Investment. On the Closing Date, the purchase and sale of the Investment Shares shall be permitted by the laws and regulations of each relevant
      jurisdiction.

    (c)          No Actions Pending. There shall be no suit, action, investigation, inquiry or other proceeding by any Gove mental Body or other person or entity pending or
      threatened in writing, other than publicly disclosed, that challenges, or has the effect of interfering with, the validity or legality of the transactions contemplated in this Agreement.

    (d)          No Material Adverse Change. Between the date of the execution of this Agreement and the Closing Date, there shall not have been any material adverse change
      in the condition, financial or otherwise, or the business affairs or assets, of the Company.

    ARTICLE VI

      MISCELLANEOUS

    Section 6.1          Termination. This Agreement may be terminated at any time prior to the Closing Date:

    (a)          by the mutual written agreement of the Seller and the Buyer;

    (b)          by the Buyer if any of the conditions set forth in Section 5.1 hereof shall have become incapable of fulfillment, by reason other than the Buyer's negligent or
      willful failure to perform or observe in any material respect any of the covenants or agreements set forth herein to be performed or observed by the Buyer, and such conditions shall not have been waived by the Buyer;

    (c)          by the Seller if any of the conditions set forth in Section 5.2 hereof shall have become incapable of fulfillment, by reason other than the Seller's negligent or
      willful failure to perform or observe in any material respect any of the covenants or agreements set forth herein to be performed or observed by the Seller, and such conditions shall not have been waived by the Seller; or

    (d)          by either Party by written notice thereof to the other Party, if the Closing contemplated hereby shall not have been consummated on or before January 31, 2020.

    Section 6.2          No further Liability. Subject to Section 6.4, if this Agreement is terminated in accordance with Section 6.1
      hereof, (i) neither Party shall have any further obligation or liability under this Agreement, other than by reason of a breach or default by a Party hereunder; and (ii) any monies, instruments or documents of any Party
        held in escrow or transferred to the other Party in connection with the transactions contemplated herein with respect to which the Closing shall not have occurred shall be immediately returned to such Party. For the avoidance of doubt, any such
        termination shall not have any effect whatsoever on any transactions contemplated herein with respect to which the Closing has occurred.

    
      6

      
        

    

    Section 6.3          Indemnification. Each Party shall indemnify, defend and hold harmless the other Party, its managers, directors, officers, members, partners,
      shareholders, employees, attorneys, accountants, agents and representatives and their successors and assigns from and against all liabilities, losses, damages or expenses (including, without limitation, reasonable attorney's fees and disbursements)
      based upon or arising out of (i) any inaccuracy or breach of any representation or warranty of such indemnifying Party herein, and (ii) any breach of any covenant or agreement of such indemnifying Party herein.

    Section 6.4          Survival. The representations, warranties, covenants and agreements of each of the Parties under this Agreement shall survive the Closing.
      Furthermore, Section 6.2 and Section 6.3 hereof shall survive the termination of this Agreement.

    Section 6.5          Expenses. Each of the Parties agrees to pay its own expenses incident to this Agreement and the performance of its obligations hereunder, except as
      provided in Section 6.3.

    Section 6.6          Assignment. This Agreement shall be binding on and inure to the benefit of the Parties hereto and their respective successors and permitted assigns,
      provided, however, that a party may not assign this Agreement without the prior written consent of the other party.

    Section 6.7          Notices. Any notice, request, instruction or other document to be given hereunder by any Party to the other shall be in writing and delivered by hand
      or by an courier service or shall be sent by facsimile or electronic mail to the address for such Party set forth below:

    	
            If to the Seller:

          	
            Hollywood Hills Inc.

              1 Vas. Sofias and Meg. Alexandrou St

              15124 Maroussi, Greece

              Facsimile: +302108128320

              Email: louka@loukapartners.com

          
	 	 
	
            If to the Buyer:

          	
            Top Ships Inc.

              c/o Top Ships Inc.

              1 Vas. Sofias-and Meg Alexandrou Str

              15124 Maroussi, Greece

              Attention: Alexandros Tsirikos

              Facsimile: +30210 8056441

              Email: atsirikos@topships.org

          
	 	 
	
            With a copy (which shall not

              constitute notice) to:

          	
            Seward & Kissel LLP

              One Battery Park Plaza

              New York, New York 10004

              Attention: Gary J. Wolfe, Esq.

              Facsimile: (212) 901-2110

              Email: wolfe@sewkis.com

          

    

    

    or to such other place and with such other copies as either Party may designate as to itself by written notice to the other. All such notices, requests, instructions or other documents shall be
      deemed to have been delivered (i) in the case of personal delivery or delivery by courier, on the date of such delivery, (ii) in the case of delivery by facsimile transmission or electronic mail, when receipt is acknowledged and (iii) in the case of
      mailing, on the third business day after the posting thereof. Whenever any notice is required to be given by law or this Agreement, a written waiver thereof signed by the Party entitled to such notice, whether before or after the time stated at which
      such notice is required to be given, shall be deemed equivalent to the giving of such notice.

    Section 6.8          Entire Agreement; Amendments and Waivers. This Agreement constitutes the entire agreement between the Parties pertaining to the subject matter hereof
      and supersedes all prior agreements, understandings, negotiations and discussions, whether oral or written, of the Parties. No supplement, modification, amendment or waiver of this Agreement shall be binding unless executed in writing by each Party
      to the Agreement. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver unless otherwise expressly
      provided.

    Section 6.9          Headings. Headings contained in this Agreement are inserted only as a matter of convenience and in no way define, limit or extend the scope or intent
      of this Agreement or any provision hereof.

    
      7

      
        

    

    Section 6.10          Further Assurances. From and after the Closing, upon the request of a Party, the other Party will execute and deliver such instruments, documents or
      other writings as may be reasonably necessary or desirable to confirm and carry out and to effectuate fully the intent and purposes of this Agreement.

    Section 6.11          Choice of Law. This Agreement shall be construed and interpreted, and the rights of the Parties determined, in accordance with the laws of the State
      of New York, without regard to principles of conflicts of law.

    Section 6.12          Jurisdiction. Each of the Seller and the Buyer (i) irrevocably submits to the co-exclusive jurisdiction of the United States District Court sitting
      in the Southern District of New York and the courts of the State of New York located in New York County for the purposes of any suit, action or proceeding arising out of or relating to this Agreement and (ii) waives, and agrees not to assert in any
      such suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such court, that the suit, action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceedings in improper. 
      Each of the Seller and the Buyer consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such Party at the address set forth in Section 6.7 and agrees that such service shall
        constitute good and sufficient service of process and notice thereof. Nothing in this Section 6.12 shall affect or limit any right to serve process in any other manner permitted by law.

    Section 6.13          WAIVER OF JURY TRIAL. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHTS TO A TRIAL
      BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREIN.

    Section 6.14          Remedies. In addition to any remedies either Party may have in law, each Party shall be entitled to apply to
      any court of competent jurisdiction (without posting bond or other security) to enjoin any actual or threatened breach or default under this Agreement and shall also be entitled to seek specific performance of this
        Agreement. The remedies provided for herein are cumulative and are not exclusive of any remedies that may be available to any Party at law or in equity or otherwise.

    Section 6.15        Severability of Provisions. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
      be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity or enforceability of such provision in any other jurisdiction.

    Section 6.16          No Third Party Beneficiary Rights. No provisions of this Agreement are intended, nor will be interpreted, to provide or create any third party
      beneficiary rights or other rights of any kind in any client, customer, affiliate, stockholder, member, or partner of any Party hereto or any other person or entity unless specifically provided otherwise herein, and, except as so provided, all
      provisions hereof will be personal solely between the Parties hereto.

    Section 6.17          Counterparts. This Agreement may be executed in two or more counterparts, and all such counterparts shall be deemed an original, shall be construed
      together and shall constitute one and the same instrument. Facsimile or portable document format (PDF) signatures shall be treated as original signatures for all purposes hereunder.

    (Signature Page Follows)

    

    

    
      8

      
        

    

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

    	 	
            BUYER:

          
	 	 
	 	
            TOP SHIPS INC

          
	 	 
	 	
            By:

          	 
	 	
            Name:

          	
            Alexander Tsirikos

          
	 	
            Title:

          	
            Director

          
	 	 	 
	 	 	 
	 	 	 
	 	
            SELLER

          
	 	 
	 	
            HOLLYWOOD HILLS INC.

          
	 	 	 
	 	
            By:

          	 
	 	
            Name:

          	
            Dimosthenis Eleftheriadis

          
	 	
            Title:

          	
            Director

          
	 	 	 
	 	 	 

    

    

    

    

    
      (Signature Page to Share Purchase Agreement)

    

    
      
        

    

    

    

    Schedule A

    

    

    [Bank Accounts of the Company]

    

    

    
      
        

    

    

    

    SCHEDULE 2.6

    

    

    1. Shipbuilding Contract with Hyundai Mipo dated December 2, 2018 by and among the Company and Hyundai Mipo Dockyard Co. Ltd., for the construction of the
      vessel (the “Shipbuilding Contract”); and

    

    

    2. Shell Time 4 time charter party, dated January 14, 2019, with contract with Trafigura Maritime Logistics Pte Ltd. 4 of Singapore (the “Time Charter”).

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