SHIPBUILDING CONTRACT FOR THE CONSTRUCTION OF ONE (1) 36,000 DWT CLASS BULK CARRIER (DOUBLE HULL) HULL NO. ****** BETWEEN EAST GULF SHIPHOLDING, INC. (AS BUYER) AND HYUNDAI MIPO DOCKYARD CO., LTD. (AS BUILDER)Shipbuilding Contract • March 15th, 2010 • International Shipholding Corp • Deep sea foreign transportation of freight • England
Hyundai Mipo Dockyard Co., Ltd. 1381, Bangeo-Dong, Dong-Ku, Ulsan, 682-712 Date: November 11, 2009 KoreaPerformance Guarantee • March 15th, 2010 • International Shipholding Corp • Deep sea foreign transportation of freight
In consideration of your executing a shipbuilding contract (hereinafter called the "CONTRACT") dated November 11, 2009, with East Gulf Shipholding, Inc., (hereinafter called the "BUYER") providing for the construction of one (1) 36,000 DWT Bulk Carrier (Double Hull) having the BUILDER's Hull No. ****** (hereinafter called the "VESSEL"), and providing, among other things, for payment of the contract price amounting to United States Dollars ****** only (US$ ******) for the VESSEL, prior to, upon and after the delivery of the VESSEL, the undersigned, as a primary obligor and not as a surety merely, hereby unconditionally and irrevocably guarantees to you, your successors and assigns, the due and faithful performance by the BUYER of all its liabilities and responsibilities under the CONTRACT and any supplements, amendments, changes or modifications hereinafter made thereto including but not limited to, due and prompt payment of the contract price (whether on account of principal, interest
ContractIndemnification Agreement • March 15th, 2010 • International Shipholding Corp • Deep sea foreign transportation of freight • Delaware
December 23, 2009 Mr. Erik F. Johnsen Covington, LA 70434 Reference: Erik F. Johnsen Consulting AgreementConsulting Agreement • March 15th, 2010 • International Shipholding Corp • Deep sea foreign transportation of freight
This letter will confirm that International Shipholding Corporation has agreed to retain you as a consultant for a period of time commencing January 1, 2010, and ending December 31, 2010. Your consulting compensation will be annual fee of $250,000, payable pro-rata in monthly installments of $20,833.34, plus reasonable out-of-pocket expenses. At the end of the agreed period of time, this Agreement is automatically extended month-by-month with a continuation of said pro-rata monthly installments of $20,833.34.
ContractConsulting Agreement • March 15th, 2010 • International Shipholding Corp • Deep sea foreign transportation of freight
