Document:

Exhibit
10.8

 

MARINE FUEL SUPPLY SERVICE
AGREEMENT,

DATED APRIL 1, 2005, BY AND
BETWEEN AEGEAN

MARINE PETROLEUM S.A. AND
AEGEAN OIL S.A.

 

 

MARINE FUEL SUPPLY SERVICE AGREEMENT

 

This Agreement is made as of
the 1st day of April 2005

 

BETWEEN

 

(1)   AEGEAN MARINE PETROLEUM S.A., a company
incorporated under the laws of the Republic of Liberia, whose registered office
is at 80, Broad Street, Monrovia, Liberia (hereinafter called the “Company”) of
the first part and

(2)   AIGAION OIL ANONIMI ETERIA VIOMIHANIAS KAI
EMPORIAS PETRELAIOEIDON, a company incorporated under the laws of the Hellenic
Republic, whose registered office is at 42, Hadjikyriakou Avenue, Piraeus,
Greece (hereinafter called the “Contractor”) of the second part.

 

WHEREAS

 

(A)           The Company is an international
trader and physical supplier of marine fuels (as defined in clause 5 hereof),
maintaining a broad base of international customers, including container,
dry-bulk carrier and tanker fleets, time charter operators, managers as well as
foreign governments.

(B)             The Contractor is
operating in Greece as licensed trader and physical supplier of among other
petroleum products marine fuels.

(C)             The Company is
seeking to commit to a long-term agreement with the Contractor for the sale to
the Company for its nominated customers and the supply of marine fuels in
transit as

 

 

bunkers to
customer ships calling at ports within the Greek Territory at the Company’s
request from time to time.

 

(D)            The Contractor
represents that it has the capability and the desire to supply the products and
provide the service required by the Company.

 

NOW IT IS HEREBY AGREED AS
FOLLOWS:

 

1. Term

 

This Agreement shall have
affect on and from the 1st day of April 2005 and shall
continue for a ten year period terminating on the 31st March 2015, unless earlier
terminated in accordance with clauses 19 hereof.

 

2. The
Service

 

The contractor shall sell
marine fuels in transit to the Company for its nominated customers and shall
supply such product to ships calling at ports within the Territory (as defined
in Clause 3 at the Company’s request from time to time.  The contractor will be committed to supply
both the product and the service without any assistance from the Company.

 

3.  The Territory

 

During the term of this
Agreement the Contractor undertakes, as when requested by the Company, to
supply the products to ships at all Greek ports and/or at anchor offshore
within Greek territorial waters.

 

However, where supply and
delivery of the products is required outside the jurisdiction of the Port
Authority of Piraeus all additional costs incurred by the Contractor shall be
reimbursed by the Company.

 

2

 

4.  Exclusivity

 

Save as otherwise may be
mutually agreed in the future the Company is committed to purchase the products
and use the supply service of the Contractor in the Territory on an exclusive
basis.

 

5.  The products

 

The type of products to be sold
by the Contractor to the Company for its nominated customers under this
Agreement shall be:

 

TYPE

 

(a)   Marine Fuel Oil to meet ISO
8217/1996 RMG 35 and subsequent revisions thereof.

 

(b)   Marine Gas Oil to meet ISO
8217/1996 DMA and subsequent revision thereof.

 

(c)   Marine Fuel Oil to meet ISO
8217/1996 RME 25 and subsequent revisions thereof.

 

(d)   The fuels shall comply with
Annex VI of Marpol 73/78 regulations 14 and 18.

 

QUANTITY

 

Fuel Oil-minimum 10,000 m.t.
maximum 50,000 m.t. per calendar month Gasoil and MDO combined - minimum 1,000
m.t. and Maximum 10,000 m.t. per calendar month.

 

These quantities are to be
lifted rateably across the month.

 

Final quantities to be declared
on nomination.

 

Quantities sold and supplied by
the Contractor under this Agreement shall be evidenced by the relevant bunker
delivery receipts duly signed and stamped by the Master or Chief Engineer by
the receiving customer’s ship and any such quantities shall be binding for both
parties.

 

3

 

QUALITY

 

The Contractor shall deliver to
the Company’s nominated customer’ ships the products which shall strictly
conform to the specification set forth hereinabove.  If required by the Company the contractor
shall provide full product specification prior to loading same on bunkering
tankers.

 

On delivery of the products to
Company’s nominated customers the Contractor will be obliged to take four (4)
samples in total.  Three (3)
representative samples on the bunkering tanker, one of these samples to be
given to the master of the receiving ship and the other two to be retained by the
contractor.  The contractor will be
obliged to submit the retained sample for analysis at an independent laboratory
upon the Company’s request.  The 4th
sample labeled with the MARPOL requirements will be given to the ship.

 

For the purpose of verifying the quality of
the products sold under this Agreement the Company shall have the right to
nominate and be represented by an independent inspector of its choice.

 

6.  Nominations procedure

 

All enquiries for deliveries
shall be passed to the Contractor and confirmed electronically.  Product required to be delivered in terms of
type and quantity delivery requirements location of delivery and all other
material information shall be nominated to the Contractor verbally with
written/email confirmation immediately following least three (3) to five (5)
full working days prior to delivery to Company’s nominated customer ships and
the Contractors shall each time effect delivery in accordance with the Company’s
nomination.  If less time is available
the Contractor shall, with no commitment, make best efforts to accommodate
Company’s request.  For each delivery the
Contractor will be obliged to issue a delivery note and bunker receipt in the
prescribed format the latter to be countersigned by the receiving ship’s master
or chief engineer.

 

4

 

7.  Price

 

7.1  The price applicable for the sale and
delivery of the Products to the Company’s customer ships will be based on the
acquisition cost of the Contractor for the purchase of the nominated quantity
from the Greek State - owned or private refineries in the Gulf of Aspropyrgos,
Elefsis or Corinth plus a margin of U.S. Dollars Two ($2) per each metric ton
sold and delivered to Company’s nominated customers such margin to be reviewed
and renegotiated annually between the parties for the purpose of being
re-adjusted upwards of downwards.

 

In the event an annual price
review is instituted by either party such review will begin no later than two
(2) months prior to the anniversary of the Contract’s commencement, i.e., on 1st
February.  The review will determine the
price structure for the subsequent year period (which period beings on 1st
April). Such review will consist of mutual discussions and agreement.  If no agreement is reached within one (1)
month from the date a price review is instituted it is agreed that dispute will
be referred to binding Arbitration by a single Arbitrator to be appointed by
the parties or in case of disagreement by the Chairman of the Greek Chamber of
Shipping, Piraeus.

 

7.2  Any
taxes or duties as may apply or be applied in the future to sales of any of the
above products under this Agreement shall be for Company’s account.

 

7.3  Upon
the anticipated regulatory requirements coming into force in the Territory by
virtue of which single hull bunkering tankers would be phased out then in that
case either party may institute a special price review for the purpose of
determining the additional cost to be incurred by the Contractor for the
provision of the Service on account of such event.

 

Such special review will consist of natural
discussions and agreement.  If no
agreement is reached, the dispute will be referred to binding Arbitration by a
single Arbitrator to be appointed by the parties or in case of disagreement by
the Chairman of the Greek Chamber of Shipping, Piraeus.

 

5

 

7.4  Payment of the relevant invoices issued by
the Contractor will be made by the Company is cash in US Dollars without
deduction, set-off or counter claim within 30 calendar days from the date of
receipt by the Company of the Contractor’s invoice and copy of the signed
bunker delivery receipt.

 

In the event of the delay of
payment of the above invoices, the respective amounts shall been interest at
the rate of 10% per annum pro rata.

 

7.5  The Company hereby agrees to provide security
to the Contractor by way of a Stand by Letter of Credit or other mutually
acceptable guarantees (“the Security) in relation to any outstanding balance
from time to time owing to the Contractor pursuant to invoices for products
delivered.

 

8.  Condition of the bunkering tankers and
equipment

 

The Contractor will be obliged
to provide and maintain, throughout the term of this Agreement all bunkering
tankers tracks and other equipment in every respect fit for the service, compliant
with all applicable regulations and seaworthy in all respects.

 

The Company reserves the right
to inspect at any time any bunkering tanker or equipment for the purpose of
ascertaining whether it is being operated and maintained in accordance with the
terms of this Agreement and the requirements of the company.

 

All bunkering tankers allocated
by the Contractor in the Service shall be subject to the Company’s ship vetting
programme.

 

9.  Other Warranties

 

The Contractor shall be obliged
at all times to comply with all relevant laws, status regulations or codes of
practice including without limitation health and safety and environment laws
and regulations in relation to the service, the products and the handling of
the products.

 

6

 

10.  Title and Risk

 

Title and risk to the products
supplied hereunder shall pass to the Company when product passes hoses at the
receiving customer ship’s flange.

 

However passage of risk shall
be subject to compliance by the Contractor with the terms of this Agreement.

 

11.  Insurance

 

The Contractor undertakes to
obtain and maintain comprehensive insurances for the bunkering tankers
allocated in the service, including cover for third party liability and
environmental liability.

 

12.  Terms and Conditions of Sale

 

The Contractor is aware of the
Company’s terms of sale to its customers and warrants to the Company to
maintain its terms of sale under the supply contract with the Company so as to
be consistent with the Company’s terms of sale.

 

The Contractor undertakes not
to take any action that is inconsistent with the Company’s terms of sale.

 

The Contractor shall be obliged
to indemnify the Company against costs, claims, losses or expenses incurred by
the Company under the terms of sale to the extent that they arise as a result
of the performance, misperformance, or non-performance of the service by the
Contractor.

 

13.  Right of Access

 

The Company will have the right
at all time to test and take samples of the products in storage, to witness the
making of deliveries and to make checks for environmental and health and safety
audit purposes.

 

14.  Collection Risk

 

As between the Company and the
Contractor, the Company will exclusively bear the collection risk in relation
to payment for deliveries made under this Agreement.

 

7

 

15.  Advisory
Functions

 

In the event the Contractor is approached or queried by the Company’s
customers in relation to the suitability of particular products or blends for
particular engines and/or advice is sought by the Company’s customers on their
fuel grade requirements, the Contractor will note all such queries and requests
for advice but shall refer them immediately to the Company, advising the
relevant customer that the Company will handle them.

 

16. Customers Claims and Disputes

 

The Company will be exclusively responsible for the handling of all
claims of whatsoever nature alleged by the customers and the Contractor shall
immediately on receipt of same pass on to the Company any claims that it
receives itself.  However and for the
avoidance of doubt it is expressly understood that this is an arrangement for
claims handling only and not an acceptance of liability and/or that the Company
is the due defendant.  This method of claims
handling will therefore be entirely without prejudice to any steps the Company
may take upon receipt of a claim, including any rights of recourse it may
against the Contractor and/or its rights to require the Contractor to comply
with its directions in relation to any formal steps that may need to be taken
in litigation or arbitration process, and/or its right to return the papers to
the Contractor for forward handling where the Company takes the view that it
has no involvement in the relevant dispute.

 

17.  Force
Majeure

 

Neither the Company or the Customer shall, save in respect of any
obligation to make payment or to the extent otherwise in this Agreement
expressly provided, be responsible for any loss or damage or delay or failure
in performance hereunder arising or resulting from circumstances beyond its
reasonable control including without limitation act of God, act of war, seizure
under legal process, quarantine restrictions, strikes, boycotts, lock-outs,
riots,

 

8

 

civil commotions or arrest or restraint of princes or peoples or perils
at sea, non-availability or lack of supply of the products by the Refineries
within the Territory.

 

18.  Liabilities
and Indemnities

 

The Contractor shall be liable for and indemnify the Company against
all costs, claims and expenses including third party claims arising in
connection with the performance, non-performance or misperformance of service
or any defects or alleged defects in the quality or quantity of the products
provided however that any such costs, claims and expenses are directly
attributable to be Contractor’s own negligence or willful misconduct.

 

In any case the Contractor’s liability to indemnify the Company will
not extent to such matters as demurrage claims by the Company’s customers for
delays caused by the Contractor and/or any other consequential losses
whatsoever.

 

19.  Termination

 

Notwithstanding the provisions of clauses 1 and 7, and without
prejudice to any prior rights accrued to either party, this Agreement shall
terminate in the following circumstances:

 

(a)   At
the Contractor’s option, this Agreement shall terminate with immediate effect
and without liability to Contractor in the event that Contractor’s petroleum
trading license terminates or is revoked by the Greek authorities, or in any
event where the Contractor or its agents are unable to continue business in
Greece.

 

(b)   By
the non-breaching party, upon any breach by the other party in the performance
of any of its obligations, under this Agreement, being of a kind fundamental in
nature, if not remedied within thirty (30) days after receipt of written notice
thereof from the non-breaching party.

 

(c)   If
either party shall file for bankruptcy, or shall go into liquidation for
purposes other than reconstruction or amalgamation or if a receiver of
sequestrator of the undertaking and assets of either party shall be

 

9

 

appointed or if either party shall enter into
deed of arrangement for the benefit of its creditors, the other party may by
written notice forthwith terminate this Agreement.

 

(d)   At
the Company’s option, this Agreement shall terminate without liability to the
Company in the event that the Company would decide to cease its supply activities
for the products in the Territory by serving a twelve (12) months prior written
notice to the Company.

 

In the event for any reason whatsoever this Agreement terminates then
payment of all invoices rendered to the Company in relation to Company’s payment
obligations under this Agreement which have arisen prior to the date of
termination shall become due and payable.

 

20.  Assignment

 

This Agreement shall not be assigned or otherwise transferred by either
Party without the prior written consent of the other Party, such consent not to
be unreasonably withheld.  Any assignment
made hereunder shall not relieve the assigning Party from its liabilities under
this Agreement incurred prior to the date of assignment.

 

22.  Settlement
of Disputes

 

21.1 As priority:

 

Should any dispute arise between the two
Parties, the aforementioned Parties hereby undertake to find an amicable
settlement for the aforementioned dispute or discrepancy.

 

21.2 Secondly

 

21.2.1 Failing an
amicable settlement between the Parties, any dispute related related to this
Agreement shall be submitted to the competent jurisdiction.

 

21.2.2 To the extent
that any Party has or thereafter may acquire immunity from jurisdiction of any
court in any action or proceeding conducted pursuant to this Agreement, such
party hereby irrevocably

 

10

 

agrees not to invoke such immunity as a
defense, and irrevocably waives any such immunity.

 

22.  Notices

 

22.1 All notices to
be given hereunder by either Party to other shall be in writing and shall be
delivered by Fax or electronically and then by hand or by post at the following
addresses:

 

22.1.1
Company :                Aegean Marine
Petroleum S.A.

36 Vyron Ave, Nicosia Tower Center,

8th floor,
flat/office 803 PC 1506,

Nicosia-Cyprus

Fax: 0035722451291

Attention : Mrs Christina Sarris

 

22.1.2
Contractor:              Aegean Oil S.A.

42 Hadjikyriakou Ave,

185 38 Piraeus, Greece

Fax: 210-4586241

Attention : Mr Gerasimos Paxinos

 

22.2 Any notice
between the parties with respect to this Agreement shall be delivered by hand
or sent by pre-paid registered post to the address of the addresses as set out
above, or to such other address as the addressee may from time to time have
notified for the purpose of this clause.

 

22.3 Notices shall
be deemed to have been received (i) if sent by pre-paid registered post:
five (5) business days after posting exclusive of the day of posting or (ii) if
delivered by hand: on the day of delivery.

 

22.4 In proving
service of any notice (i) delivered by hand: it shall be necessary only to
produce a receipt for the communication signed by or on behalf of the addressee
or (ii) delivered by post: it shall be necessary only to provide the
registered post receipt.

 

23.  Entire
Agreement

 

This Agreement shall constitute the entire agreement between the
undersigned with respect to the subject matter hereof and shall supersede all
previous

 

11

 

negotiations, commitments and
writings of the undersigned in relation to the subject matter.

 

24.  Headings

 

All headings have been inserted
for convenience of reference only, and shall not affect the interpretation of
any of the provisions of this Agreement.

 

25.  Binding Effect

 

This Agreement and the rights,
duties and obligations of the undersigned shall more to the benefit of and be
binding upon the undersigned and upon their successors and assignees.

 

26.  Severability of provisions

 

In any case one or more of the
provisions contained in the Agreement should be invalid, illegal or unenforcable
in any respect the validity, legality and enforceability of the remaining
provisions contained herein shall not in any way be affected or impaired
thereby.

 

27.
Applicable Law and Jurisdiction

 

This Agreement shall be
governed by and construed in accordance with the laws of Greece.  Any dispute which may arise out of this
Agreement shall be referred to Arbitration by the Greek Chamber of Shipping.

 

IN WITNESS whereof the parties
have caused this Agreement to be duly executed as a deed on the day and year
first above written.

 

 

	
  Executed as
  a deed by

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
  Stavros Krotidis

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
  for and on
  behalf of

  	
  )

  	
  [SEAL]

  
	
   

  	
   

  	
   

  
	
  Aegean
  Marine Petroleum S.A.

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
  In the
  presence of:

  	
  )

  	
   

  
	
   

  	
   

  
	
  ELIA
  NICOLAOU

  	
  /s/ Elia
  Nicolaou

  	
   

  
				

 

12

 

	
  Executed as
  a deed by

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
  Gerasimos
  Paxinos

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
  for and on
  behalf of 

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
  Kai Emporias
  Petrelaioeidon

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
  In the
  presence of:

  	
  )

  	
  [SEAL]

  
	
   

  	
   

  	
   

  
	
  Kohbiadou
  Ypapanyi

  	
  /s/ Kohbiadou
  YpapanyiExhibit 10.9

 

FORM OF 

LICENSE AGREEMENT

 

THIS AGREEMENT dated as of __________ ___, 2005 is made by and between Aigaion Oil Anonimi Eteria Viomhxanias Kai
Emporias Petrelaioeidon, a Greek corporation with an address at 42
Hatzikyriakou Avenue, Piraeus 185 38 Athens, Greece, (“Licensor”) and Aegean
Marine Petroleum Network Inc., a Marshall Islands corporation with an address
at Trust Company Complex, Ajeltake Road, Ajeltake Island, P.O. Box 1405,
Majuro, Marshall Islands MH96960, (“Licensee”).

 

RECITALS

 

A.                                   Licensor is the owner of Greek trademark
registration no. 141623 for the mark shown in Exhibit A hereto (the “Mark”) and
has been using the Mark in its entirety as well as individual components
thereof (the Mark in its entirety and the individual components thereof are
collectively referred to hereinafter as the “Marks”) in connection with ship
bunkering and related services (the “Services”).

 

B.                                     Licensee has, with the consent of
Licensor, used the Marks in connection with the Services and the parties wish
to document Licensor’s consent by the execution of this Agreement.

 

C.                                     Licensee wishes to continue to use the
Marks in connection with the Services and it is the desire and intention of the
parties that Licensee be permitted to continue to use the Marks in accordance
with the terms hereof.

 

For good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and in consideration of the mutual covenants set forth herein, it
is agreed as follows:

 

1.                                     Grant of License. 
Subject to the terms, covenants and conditions herein set forth,
Licensor grants to Licensee, to the extent that it has the right to do so, a
non-transferable (except as hereinafter provided), non-exclusive, world-wide,
royalty-free right and license to use the Marks in connection with Licensee’s
business plans as set forth in Licensee’s Prospectus dated _____________, 2005
including, without limitation, in connection with the Services and the
promotion, advertising and marketing thereof (collectively, the “Licensed
Services”).  Licensor acknowledges that
Licensee has been using the Marks with the consent of Licensor through Licensee’s
related company, Aegean Marine Petroleum S.A., a Liberian entity, and Licensor
hereby consents to such continued use.

 

2.                                       Ownership.  (a)  Licensee acknowledges that, as between
Licensee and Licensor, the Marks are the sole and exclusive property of
Licensor, and Licensee agrees that it will not contest ownership or validity of
the Marks or oppose or seek to cancel any registration thereof by
Licensor.  Licensee agrees that any and
all rights that might have been or might be acquired by its use of the Marks
shall inure to the benefit of Licensor. 
Licensor 

 

 

makes no
representations or warranties in respect of the relative superiority of its
rights in the Marks to the rights of any third party in the Marks.

 

(b)    Licensor reserves all rights to use without
limitation the Marks, including for the Licensed Services, in such manner as
Licensor shall in its sole discretion deem appropriate or advisable, or to
discontinue its use of the Marks. 
Nothing in this Agreement shall be construed to limit Licensor’s right
to grant a license to any person or entity to use the Marks.

 

3.                                     Quality Control. 
The Licensed Services offered and/or performed by Licensee under the
Marks shall be of high standard and shall be offered and performed in
accordance with all applicable laws and regulations.  Licensee agrees to comply with rules set
forth from time to time by Licensor with respect to the appearance and manner
of use of the Marks, which rules shall not
unreasonably restrict Licensee’s ability to engage in the Licensed Services.  Licensee shall furnish to Licensor, prior to
any use, materials on which the mark appears (“Materials”) and Licensor
shall have the right to approve or disapprove the use of any or all such
Materials, and any such approval shall not
be unreasonably withheld.

 

4.                                       Trade Name. 
(a) Licensor authorizes Licensee to adopt and use the Marks as part of
its present corporate name or trade name during the term of this Agreement.

 

                                                (b) 
Immediately upon termination of this Agreement, Licensee will, at its
sole expense, change its corporate name or trade name to eliminate any use of
the Marks and will file all necessary documents and amendments to accomplish
such changes in each country or state where it is registered or authorized to
do business.

 

5.                                     Termination. 
(a) In the event Licensee materially breaches this Agreement, Licensor
may terminate this Agreement by giving Licensee written notice specifying the
particulars of the breach and providing a period of ninety (90) days to cure
the breach.  If Licensee’s breach shall
not have been substantially cured within the ninety (90) days, then this
Agreement shall be deemed terminated at the end of the said ninety (90) day
period unless otherwise agreed in writing by the parties.  Licensee may terminate this Agreement at any
time by written notice to Licensor.

 

                                                (b) 
Upon termination of this Agreement all rights of Licensee under the
license granted hereunder shall terminate and revert automatically to Licensor,
and Licensee shall, at its sole cost and expense, immediately discontinue all
use and distribution of the Marks and materials containing the Marks, and
thereafter Licensee shall no longer use or have the right to use the Marks or
any variation thereof, or any word or mark similar thereto or likely to be
confused therewith.

 

6.                                     Infringement. 
(a) Licensor shall have the sole right, at its expense, to bring any
action on account of any infringement or unauthorized use of the Marks by
others and Licensee shall cooperate with Licensor, as Licensor may request, in
connection with any such action brought by Licensor.  Licensor shall retain any and all damages,
settlement or 

 

 

 

2

 

compensation paid
in connection with any such action brought by Licensor.  Licensee shall promptly notify Licensor of
any and all infringements or other illegal uses of the Marks which come to
Licensee’s attention.

 

                                                (b) 
Licensor shall have the sole right, at its expense, to defend and settle
any action that may be commenced against Licensor or Licensee alleging that the
Marks infringe any rights of third parties. 
Licensee shall, at the direction of Licensor, promptly discontinue its
use of the Marks alleged to infringe the rights of such third party.

 

                                                (c) 
NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, LICENSOR SHALL HAVE NO
LIABILITY TO LICENSEE FOR OR IN RESPECT OF ANY CLAIM BY ANY THIRD PARTY THAT
LICENSEE’S USE OF THE MARKS INFRINGES UPON OR OTHERWISE VIOLATES ANY
PROPRIETARY OR OTHER RIGHTS OF SUCH THIRD PARTY.

 

7.                                     Independent Contractors. 
The relationship between Licensor and Licensee created by this Agreement
shall be that of independent contractors. 
Nothing contained herein shall be construed to place Licensee and
Licensor in the relationship of legal representatives, partners, joint
ventures, franchises or agency, and Licensee shall have no power to obligate or
bind Licensor in any manner whatsoever.

 

8.                                       Survival of Terms. 
The terms, covenants and conditions contained in Sections 2, 4(b), 5(b),
6 and 7 hereof shall survive termination of this Agreement.

 

9.                                       Severability. 
If any provision of this Agreement is determined by a court of competent
jurisdiction to be invalid or unenforceable, such determination shall not
affect the validity or enforceability of any other part or provision of this
Agreement.

 

10.                                 General Provisions. 
(a) Notices.  All notices
to be given hereunder shall be in writing and will, unless otherwise provided,
be delivered personally or sent by confirmed facsimile transmission or
overnight courier service, proper postage prepaid, to the address set forth in
the first paragraph of this Agreement, or such other address as a  party may from time to time designate by
notice.

 

(b)  Assignment.  (i) 
This Agreement and the rights and duties hereunder are personal to
Licensee and shall not be assigned, mortgaged, sublicensed or otherwise
encumbered by Licensee or by operation of law without the prior consent of
Licensor, except that this Agreement and Licensee’s rights and duties hereunder
are freely transferable by Licensee, without the consent of Licensor, in
connection with the sale of all or substantially all of the assets of
Licensee.  Pursuant to Section 1 above,
Licensor acknowledges that Licensee has been using the Marks with the consent
of Licensor through Licensee’s related company, Aegean Marine Petroleum S.A., a
Liberian entity, and Licensor hereby consents to such continued use.

 

 

 

3

 

(ii)  Licensor
may assign or otherwise transfer this Agreement at any time without Licensee’s
consent.  Licensor may assign or
otherwise transfer the Marks at any time without Licensee’s consent.

 

(iii)  This
Agreement shall be binding upon and inure to the benefit of the parties hereto
and their successors and assigns, recognizing that the assignment, mortgage,
sublicense or other transfer of this Agreement by Licensee is limited as set
forth above in Section 10(b)(i).

 

                                                (c) 
Waiver.  No rights of any
party arising under this Agreement or any provision hereof shall be waived
except in writing.  A waiver by any party
of its rights under this Agreement or any breach of this Agreement shall not be
construed as a waiver of any other rights or of any other breach.

 

                                                (d) 
Remedies; Specific Performance. 
No right or remedy conferred upon either party under this Agreement is
intended to be exclusive of any other right or remedy.  Licensee acknowledges and agrees that in the
event Licensee does not perform this Agreement in accordance with its specific
terms and conditions, or otherwise breaches the terms and conditions of this
Agreement, immediate and irreparable harm to Licensor would occur, Licensor
would have no adequate remedy at law, and Licensor shall be entitled to seek
and obtain immediate injunctive relief to prevent breaches and to enforce
specifically the terms and conditions of this Agreement.

 

                                                (e) 
Governing Law. The interpretation and performance of this
Agreement shall be controlled by and construed under the laws of the State of
New York without regard to conflicts of laws principles.  Any judicial proceeding brought with respect
to this Agreement must be brought in the United States District Court for the
Southern District of New York or any court of competent jurisdiction in the
State of New York located in the City of New York.

 

IN WITNESS
WHEREOF, the parties have executed this Agreement as of the date hereof.

 

 

 

	
  AIGAION OIL ANONIMI ETERIA

  VIOMHXANIAS KAI EMPORIAS

  PETRELAIOEIDON

  	
   

  	
  AEGEAN MARINE PETROLEUM

  NETWORK INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By

  	
   

  	
  By

  	
   

  
	
  Its

  	
   

  	
  Its

  	
   

  
	
  Date

  	
   

  	
  Date

  	
   

  

 

 

4

 

EXHIBIT A

 

 

[LOGO]

 

 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00093-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00093-of-00352.parquet"}]]