MANAGEMENT AGREEMENTStar Bulk Carriers Corp. • May 24th, 2007 • Deep sea foreign transportation of freight
Letter of Engagement Dear Mr. Tsirigakis:Star Bulk Carriers Corp. • May 24th, 2007 • Deep sea foreign transportation of freight • New York
This letter agreement shall serve to cancel, supersede, replace, and amend the October 17, 2006 Professional Services Agreement ("Professional Services Agreement") entered into between Star Maritime Acquisition Corp., a Delaware corporation ("Company"), and Maxim Group LLC ("Maxim"), a New York limited liability company whose offices are located in New York City, New York. The principal elements of this letter agreement ("Agreement") between Maxim and the Company are as follows:
QuickLinks -- Click here to rapidly navigate through this documentStar Bulk Carriers Corp. • May 24th, 2007 • Deep sea foreign transportation of freight • New York
This letter agreement will confirm our understanding that Cantor Fitzgerald & Co ("CF&CO") has been engaged to act as financial advisor to Star Maritime Acquisition Corp. (the "Company"), subject to the terms and conditions set forth below, in connection with one or more acquisitions of assets, companies or businesses. This letter agreement supercedes the prior two and separate letter agreements dated July 12, 2006.
