TERMINATION AGREEMENT
Exhibit 4.96
This TERMINATION AGREEMENT (this "Agreement") is dated as of 28th December 2016 and entered into by and between:
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DRYSHIPS INC. a company organized and existing under the laws of Xxxxxxxx Islands with registered address at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960 (the "Dryships"); and
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| (2) |
VIVID FINANCE LIMITED, a company organized and existing under the laws of Cyprus having its registered office at 00 Xxxxx Xxxxxx, Xxxxxxx, Xxxxxx ("Vivid")
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(collectively referred to as "Parties", and individually as "Party")
WHEREAS:
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Dryships and Vivid have entered into a Consultancy Agreement with effect as of 1st September 2010 as amended and supplemented from time to time (the "Consultancy Agreement") pursuant to which Vivid was engaged to act as consultant on matters of financing for Dryships and for any affiliates, subsidiaries or holding companies as directed by Dryships and Vivid was entitled to receive from Dryships a fee of twenty basis points (0.20%) on the total transaction amount.
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| B. |
The Parties have mutually agreed to terminate at no cost the Consultancy Agreement with effect as of 31st December 2016.
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NOW THEREFORE the Parties hereto agree as follows:
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THAT the Consultancy Agreement shall be terminated at no cost and shall be no longer in force and effect with effect as of 31st December 2016 (the "Effective Date").
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| 2. |
THAT from the Effective Date the Parties hereby mutually release and discharge each other and any of its affiliates, subsidiaries or holding companies and its officers, directors and employees from and against any and all monetary claims, costs, damages, liabilities, and/or any other debts whatsoever which either of the Parties hereto now has or may hereafter have, against the other Party hereto, by reason of, or in connection with the Consultancy Agreement and/or the termination of the Consultancy Agreement pursuant to the provisions of this Agreement.
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IN WITNESS WHEREOF the Parties hereto have executed this Agreement as of the date first above written.
(Signature page to follow.)
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For and on behalf of
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For and on behalf of
VIVID FINANCE LIMITED
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/s/ Xxxxxxxx Xxxxxxxxx
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/s/ Xxxxxxxxx Xxxxxxxxxxx
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Name: Xxxxxxxx Xxxxxxxxx
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Name: Xxxxxxxxx Xxxxxxxxxxx
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Title: Vice President of Finance
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Title: Director
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/s/ Xxxxx Xxxxxxxxxx
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Name: Xxxxx Xxxxxxxxxx
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Title: Director
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