Common use of Description of Change Clause in Contracts

Description of Change. Implement DNV notation OILREC ORO capacity approx. 1027m3 Change order to be declared no later than 4 February 2014. Portion of Specification Affected: Multiple grups Reason for Change: Owners request Initiator of Change: Owner Effect on Contract Price: Amount of this Change Order NOK Effect on Time for Delivery: None Effect on DW: 11 tones reduction Effect on Payment Schedule: YES Method of Payment: at acceptance of CO, paid to builders account within 3 banking days after receipt of invoice, the remaining amount at delivery of vessel DOC. ID: Builder’s signature Buyer’s signature DATE: 27/1-14 DATE: 00/0-00 XXXXXXX VERFT AS CHANGE ORDER FORM YARD NUMBER: 10304 DATE: 07.02.2014 BUILDER: ULSTEIN VERFT AS BUYER: Blue Ship Invest AS CHANGE ORDER NUMBER: 2 The following change to the Shipbuilding Contract between Ulstein Verft AS (“Builder”) and Blue Ship Invest AS (“Buyer”) for construction of a Platform Supply Vessel is hereby authorized in accordance with Article V,1 of the Contract. Description of Change: Postponement of Delivery from Des. 12th to Jan. 9th 2015 Portion of Specification Affected: NO Reason for Change: Owners request Initiator of Change: Owner Effect on Contract Price: Amount of this Change Order; Price of this postponement according to documented cost Effect on Time for Delivery: YES Effect on DW: NO Effect on Payment Schedule: YES Method of Payment: At Delivery 0 Builder’s signature Buyer’s signature

Description of Change. Implement DNV notation OILREC ORO capacity approx. 1027m3 Change order to be declared no later than 4 February 2014. Portion of Specification Affected: Multiple grups Reason for Change: Owners request Initiator of Change: Owner Effect on Contract Price: Amount of this Change Order NOK Effect on Time for Delivery: None Effect on DW: 11 tones 11tones reduction Effect on Payment Schedule: YES Method of Payment: at acceptance of CO, paid to builders account within 3 banking days after receipt of invoice, the remaining amount at delivery of vessel DOC. ID: Builder’s signature Buyer’s signature DATE: 27/1-14 DATE: 00/0-00 XXXXXXX VERFT AS CHANGE ORDER FORM YARD NUMBER: 10304 10303 DATE: 07.02.2014 BUILDER: ULSTEIN VERFT AS BUYER: Blue Ship Invest AS CHANGE ORDER NUMBER: 2 The following change to the Shipbuilding Contract between Ulstein Verft AS (“Builder”) and Blue Ship Invest AS (“Buyer”) for construction of a Platform Supply Vessel is hereby authorized in accordance with Article V,1 of the Contract. Description of Change: Postponement of Delivery from Des. 12th Nov. 7th to Jan. 9th 2015 Portion of Specification Affected: NO Reason for Change: Owners request Initiator of Change: Owner Effect on Contract Price: Amount of this Change Order; : Price of this postponement according to documented cost Effect on Time for Delivery: YES Effect on DW: NO Effect on Payment Schedule: YES Method of Payment: At Delivery 0 Builder’s signature Buyer’s signature