AMENDMENT NO. 1
Exhibit
10.5
EXERCISE
OF OPTION TO EXTEND AND
AMENDMENT NO. 1
TO
DATED
OCTOBER 6, 2005
(THE
“CHARTERPARTY”)
BETWEEN
XXXXX
TANKER CORPORATION (THE “OWNERS”)
AND
DHT XXXXX
VLCC CORP. (THE “CHARTERERS”)
FOR THE
VESSEL
OVERSEAS
XXXXX
Pursuant
to clause 99 of the Charterparty, the Charterers hereby declare, as of November
26, 2008, the exercise of the first 12 months of the option period which shall
commence on October 17, 2011 at 0001 hours GMT and end on October 16, 2012 at
2400 hours GMT (the “Option
Period”).
As of the
date of this agreement, the Owners and the Charterers hereby amend the terms of
the Charterparty as follows:
(1)
Notwithstanding clause 99, the rate during the Option Period shall, at the
option of the Charterers, be:
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a)
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usd
38,500 per day;
or
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b)
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the
market rate as determined by the Association of Shipbrokers Agents and
Agents Tanker Broker Panel plus five percent provided, however, that
the rate payable during the Option Period shall never be less than usd
33,500 per
day.
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(2)
Except as expressly amended by this agreement, the terms and conditions of the
Charterparty remain unchanged and in full force and effect including, without
limitation, the profit sharing arrangement between the Owners and the
Charterers.
January
15, 2009
| For Xxxxx Tanker Corporation | For DHT Xxxxx VLCC Corp. | |||
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By:
/s/ Ole Xxxxx Xxxxxx
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By:
/s/ Mats Xxxxxxxx
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|||
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Name:
Ole Xxxxx Xxxxxx
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Name:
Mats Xxxxxxxx
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|||
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Title: Vice
President
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Title:
Senior Vice President
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