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Services to be provided by Buyer’s Agent

It is understood that the buyer’s agent shall provide advice and assistance in any and all purchase negotiations, specification reviews and contract negotiation and finalization. Buyer’s Agent will act as Third party escrow agent during the entire purchase process and will release funds only as defined and approved by the Buyer. Buyer’s agent shall be available to buyer for any US stateside meetings relative to the order, execution and final completion and delivery of said vessel.

Fees Payable

Buyer agrees to pay the Buyer’s Agent a fee of ___% of the Final Purchase Price of the vessel. Said fee will be due and payable as payments are made on behalf of the buyer for said vessel.

Expenses Incurred

Buyer accepts responsibility for the payment of all expenses incurred by Buyer’s Agent on Buyer’s behalf with respect to the acquisition of required vessel. An initial payment of ___________ shall be placed initially into The Corporate Escrow account for the purposes of anticipated expenses. All additional expenses over $250 will be pre-approved by buyer via fax or e-mail prior to buyer’s agent incurring expense related to said purchase. If for any reason a final purchase is not executed, the buyer shall only be liable for expenses incurred prior to the termination of this contract at which time all funds remaining in the Escrow account will be refunded to Buyer.

Expenses shall include but are not specific to travel costs, transfers, shipping fees, non-office communications as well as any inspections, architects, surveyors or other specialty services fees required and agreed necessary by both parties. It is anticipated that a minimum of two (2) factory inspections will be necessary for any vessel ordered. It is expressly understood that these visits will have at least one company representative present and will require flight costs as expended plus a per diem hotel/food allowance of $150.00 per staff member. Buyer shall authorize any and all travel in advance.

It is expressly understood that the Buyer’s Agent shall act solely on the Buyer’s behalf receiving compensation in any transaction solely from the Buyer. It is further understood that the Buyer’s agent shall provide full and professional service but shall be not liable and will be held harmless relative to any claims or litigation, which might arise from any transaction, which the Buyer enters into.

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BUYER BUYER’S AGENT

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