STANDSTILL AGREEMENTStandstill Agreement • September 4th, 2020 • Family Trading Inc. • Deep sea foreign transportation of freight • New York
This Standstill Agreement (this “Agreement”) is entered into as of August 20, 2020, by and among TOP Ships Inc. (the “Company”), a Marshall Islands corporation publicly listed on Nasdaq, Family Trading Inc., a Marshall Islands Company (“Family Trading”) under the control of the Lax Trust (“Lax Trust”) an irrevocable trust established for the benefit of certain family members of Evangelos Pistiolis (“Pistiolis”), the President, Chief Executive Officer and Director of the Company (together the Lax Trust and Family Trading is referred to as the “Series E Holders”) and Pistiolis. The Company, the Series E Holders and Pistiolis are each sometimes referred to in this Agreement as a “Party” and collectively as the “Parties.”
