SUPERVISION OF CONSTRUCTION AND MANAGEMENT OF VESSELS. 4.1 The Shareholders shall procure that each Vessel Owning Company will enter into a Supervision Agreement with the Supervisor in substantially the form set out at Schedule 4 whereby the Supervisor will provide services including plan approval and supervision of the construction and completion of each Vessel. The fee for supervision services payable to the Supervisor pursuant to the Supervision Agreements shall be on a cost basis, flow through of actual expenses incurred by Supervisor to be paid in advance based on budgeted amount with later reconciliation of actual costs.
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Samples: www.sec.gov, www.sec.gov, Shareholders’ Agreement (Teekay Corp)
