0000950144-08-004004 Sample Contracts

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SHORT-TERM LOAN AGREEMENT IN EUROS AND OPTIONAL CURRENCIES
FreeSeas Inc. • May 12th, 2008 • Deep sea foreign transportation of freight

The Bank has offered by the Credit Agreement dated 11 January 2008 to grant the Borrower, until further notice, a short-term loan facility, subject to the terms and conditions mentioned in that Credit Agreement, including the conclusion of a relevant agreement between the parties.

Contract
Memorandum of Agreement • May 12th, 2008 • FreeSeas Inc. • Deep sea foreign transportation of freight • London

Norwegian Shipbrokers’ Association’s Memorandum of Agreement for sale and purchase of ships. Adopted by The Baltic and International Maritime Council (BIMCO) in 1956.

Dated: 2nd April, 2008 ADVENTURE NINE S.A. (as owner) and FBB-FIRST BUSINESS BANK S.A. (as mortgagee) DEED OF COVENANT supplemental to a First Priority Statutory Bahamian Ship Mortgage over M/V “FREE IMPALA”
FreeSeas Inc. • May 12th, 2008 • Deep sea foreign transportation of freight

form of this Deed and the Owner has agreed to execute the said Statutory Mortgage and this Deed in favour of the Mortgagee in consideration of the foregoing.

ROLLOVER LOAN AGREEMENT USD 27,000,000 between Adventure Two S.A. Adventure Three S.A. Adventure Seven S.A. and HOLLANDSCHE BANK-UNIE N.V.
Rollover Loan Agreement • May 12th, 2008 • FreeSeas Inc. • Deep sea foreign transportation of freight

– HBU has offered by credit agreement dated 21st January 2008 (‘the Credit Agreement‘) to grant the Borrower a rollover loan in the sum of USD 27,000,000 (‘the Loan’) for the financing of the purchase of the m.v. “African Protea” t.b.r. “Free Knight”, subject to the main details, terms and conditions specified in the above-mentioned credit agreement and the execution of a definitive agreement between HBU and the Borrower;

ON THE LETTERHEAD OF HSH NORDBANK AG]
FreeSeas Inc. • May 12th, 2008 • Deep sea foreign transportation of freight
ORIGINAL
FreeSeas Inc. • May 12th, 2008 • Deep sea foreign transportation of freight

It is mutually agreed that this Agreement shall be performed in accordance with the terms and conditions contained herein.

FACILITY AGREEMENT for a Reducing Revolving Credit Facility of up to US$87,000,000 to FREESEAS INC. provided by CREDIT SUISSE
Agreement • May 12th, 2008 • FreeSeas Inc. • Deep sea foreign transportation of freight • London
CREDIT AGREEMENT
Credit Agreement • May 12th, 2008 • FreeSeas Inc. • Deep sea foreign transportation of freight
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