TERMINATION AND RELEASE AGREEMENTTermination and Release Agreement • February 20th, 2008 • Oceanaut, Inc. • Water transportation • New York
THIS TERMINATION AND RELEASE AGREEMENT (the “Agreement”) is entered into as of February 19, 2008 by and among OCEANAUT, INC., a Marshall Islands corporation (the “Company”), Excel Maritime Carriers Ltd., a Liberian corporation, the parties listed under the caption “SELLERS” on the signature page hereof (each, a “Seller,” collectively, the “Sellers”), the parties listed under the caption “INVESTORS” (each, an “Investor,” collectively, the “Investors”), the parties listed under the caption “NOMINATED SUBSIDIARIES” (each, a “Nominated Subsidiary,” collectively, the “Nominated Subsidiaries”), and certain other parties who are either parties to or third party beneficiaries of the Definitive Agreements (as defined below) or agreements that are ancillary thereto (“Other Parties”). The Company, Excel, the Sellers, the Investors, the Nominated Subsidiaries and the Other Parties are hereinafter collectively referred to as the “Parties.”
