Starting & Ending Time

Terms of Payment

1.
The Owner agrees to let on bare-boat charter and the Charterer agrees to charter the unattended above
mentioned yacht (hereinafter
called "the Yacht") for the period as stated above and
commencing at 18:00 o'clock
on the stated
starting day and ending at 9:00 o'clock
on the stated
ending day for the sum as stated, of which 50
% are
due and payable by the charterer to
upon the signing of this Agreement

The
balance of 50
% is
due and payable in the following manner: PRIOR
TO BOAT EMBARKATION

Validity

2.
The signature of this Agreement by the Owner and/or his Agents
becomes valid and binds the Owner to his obligations hereinafter
mentioned only on condition that the Owner will actually receive
the sums of the payments as indicated in Clause 1 above, in time.

Delivery

3.
The Owner agrees:

To
fit out the Yacht and to hand her to the Charterer, without crew,
afloat, clean, ready for sea, with all the gear and equipment
indicated in the Yacht's brochure and its inventory list and in
proper running and seaworthy condition at_MARINA

Insurance

b.
To insure the Yacht and her equipment against fire, marine and
collision risks and third party damage and against any and all
loss or damage in excess of EURO and
the Charterer shall therefore be relieved of any and all liability
which is covered by the said Policy, provided that such loss or
damage is not caused or contributed to by any act of gross
negligence or willful default on his part. Should the Owner fail
or elect not to effect such insurance he shall assume the same
responsibilities as if the Yacht were so insured, but he shall not
be under any liability for the loss or damage to the personal
property of or for any injury to the Charterer or any person on
board with his permission.

Delayed
Delivery

c.
To employ every reasonable effort to ensure delivery of the Yacht
on the date and at the place mentioned in Clauses 1 and 3(a)
hereof, but if for any cause whatsoever the Yacht shall not be
available, the Charterer shall have the right of choice of one of
following possibilities:

I.
Provided that the following charter commitment of the Yacht allows
it and that the Owner agrees, to prolong the period of charter by
the same length of time by which the delivery has been delayed.

II.
To leave the date of termination unchanged as in Clause 1 hereof
and to be refunded by the Owner with an amount proportional to the
time by which delivery was delayed at the rate corresponding to
the total charter fees in Clause 1 hereof.

Excess
Delay

III.
If the delay of delivery exceeds one fourth (1/4) of the total
charter time, to cancel this Agreement and be refunded by the
Owner with the total amount paid for this charter. In any of the
events mentioned in this Clause, neither party shall be liable to
pay to the other any other compensation for any loss or damage
resulting from the curtailment or the cancellation of this
Agreement.

Redelivery (Return)
of the Yacht and Delays

4.
The Charterer agrees:

a.
To redeliver the Yacht to the Owner at_ MARINA cleaned-up,
together with all her equipment, in the same good condition as she
was at take-over, at the time designated in Clause 1, but, unless
the Yacht has become a total loss, if he shall for any reason fail
to deliver the Yacht at the aforesaid date and time, to pay to the
Owner demurrage at the rate of the charter price per day of this
Agreement increased by fifty percent (50%), for every day or
fractional part of a day there-after until delivery has been
effected. If he leaves the Yacht at any place other than the place
designated in this Clause, to pay to the Owner all expenses
involved in transferring the Yacht to the place of redelivery and
pro-rata demurrage as above for the number of days required for
this transfer, as well as for any loss or damage not covered by
the insurance policy, which may occur on or to the Yacht until she
has been taken over again by the Owner.

Deposit and
Guaranty

Restrictions in the
use of the Yacht

Composition of
Charterer's Party and Cruise Limits

b.
To leave on deposit and as guaranty with the Owner on taking over
the Yacht the amount of_EURO to
meet in whole or in part any claim by the Owner in respect of any
loss or damage to the Yacht and / or her equipment not recoverable
under the policy of insurance as in Clause 3(b) hereof and for any
claim by the Owner in respect of the provisions of Clause 4(a)
above. The aforesaid deposit shall be refunded to the Charterer,
subject to the provisions above, after inspection of the Yacht,
her gear and her inventory by the Owner.

c.
Not to use the Yacht for racing or for towing other craft, except
in an emergency, or generally for any purpose other than that of
private pleasure of the Charterer and his party which should
include not less than ONE (1) qualified
skipper and ONE (1) experienced
crew members, but not more than

_
- - in
all at sea, or to accommodate aboard any person other than those
shown on the crew/passenger manifest nor to take the Yacht or
permit her to be taken outside the area of the Greek seas nor to
sublet the Yacht without the written consent of the owner.

Observance
of Customs and Diving Laws

d.
Not to allow any person on board to commit any act contrary to the
custom laws of Greece or of any country or contrary to the laws
pertaining to fishing or under water fishing nor to seek and/or
take possession of objects of archaeological nature or value and
that in case any such act is committed this Agreement shall
thereupon terminate, but without prejudice to any rights of the
Owner and that the Charterer shall carry alone any resulting
responsibilities and he shall answer alone to the appropriate
Authorities.

Agreement
for Towing the Yacht

e.
To take every possible preventive measure and precaution to avoid
to bring the Yacht in any condition in which the Yacht will need
to be towed to any point by another vessel, but should such a
necessity arise, in-spite of the Charterer's efforts, to negotiate
and agree with the captain of the other vessel on the price to be
paid, before allowing the Yacht to be towed.

Restrictions
in Leaving Port

f.
Not to leave a port or anchorage if the wind force is or is
predicted to be over six (6) of the Beaufort Scale or if the
harbor Authorities have imposed a prohibition of sailing or while
the Yacht has unprepared damage or any of her vital parts such as
engine, sails, rig, bilge pump, anchoring gear, navigation lights,
compass, safety equipment, etc. are not in good working condition
or without sufficient reserves of fuel or in general, when weather
conditions or the state of the Yacht or its crew or a combination
of them concerning the safety of the Yacht and her crew is
doubtful.

Restrictions
in the Use of Canvas Restrictions in Navigation

g.
When necessary, to promptly reduce canvas and not to allow the
Yacht to be found sailing under an amount of canvas greater than
the one insuring comfortable sailing without excessive strains and
stresses on the rigging and the sails, not to sail the Yacht in
any area not sufficiently covered by the charts at his disposal or
without having previously studied the charts of the area and other
printed aids on board thoroughly, not to sail the Yacht at night
without all navigation lights functioning or without sufficient
watch on deck.

Yacht
Log

h.
To keep the Yacht's Log Book up to date, noting each day the port
of call, the state of the Yacht and its equipment, any change in
the composition of the crew when at sea, regularly, the times
positions, weather conditions, sail plan and hours of engine
operation.

Itinerary

i.
To plan and to carry out the Yacht's itinerary in such a manner as
to reach the port of call farthest away from the point at which
the Yacht must be returned to the Owner (Turn-Around Point) within
the first one third (1/3) of the charter period and that two days
prior to the termination of the charter the Yacht's port of call
shall lie at a distance not greater than forty (40) N.M. from the
point at which the Yacht is to be returned to the Owner.

Reports
of Yacht's Position and State

k.
To report by telephone or cable to the Owner at reasonable
intervals (every 3 days) the position and state of the Yacht and
of her passengers, as well as in the event of any damage to the
Yacht.

Information

l.
To study and acquire a working knowledge of any printed matter
pertaining to the proper handling of the Yacht and to the
conditions in the cruising area which may be made available to him
by the Owner.

Charterer's
Sailing Qualifications

5.
This agreement is entered into on this basis of the Charterer's
competence in sailing, seamanship and navigation stated by him in
writing and in the event of any error, omission or
mis-interpretation in this respect being subsequently discovered,
the Owner shall be entitled to terminate this Agreement forthwith
and to retain the Charter fees.

Test
of Sailing Competence of Charterer and his Crew

6.
The Owner (or his representatives) may require the Charterer and
his crew to demonstrate their competence in handling and
navigating the Yacht safely by actually operating the Yacht at sea
with the Owner (or his representative) aboard and should the
Charterer and/or his crew fail to satisfy the Owner in this
respect, the Owner may terminate this Agreement as stated in
Clause 5 above or place aboard the Yacht a seaman, if one
acceptable by both the Owner and the Charterer, is available, at
the expense of the Charterer, for as many days as the Owner will
consider necessary for the safety of the Yacht and her passengers
and any time required for this test of the Charterer's competence
and seamanship will be part of the agreed Charter period.

Take-Over
of the Yacht & Time required for it

7.
The delivery of the Yacht to the Charterer will be made at the
commencement of the charter period as designated in Clause 1. The
time required to demonstrate the Yacht to the Charterer and to
familiarize him with her shall be part of the agreed charter time.
The free use of the Yacht will be granted to the Charterer after
he has signed the Take-Over form.

Acceptance
of the Yacht Charterer's Responsibility during Charter Time

8.
Before signing the aforesaid form, the Charterer shall have the
right to inspect the Yacht, her gear and her inventory thoroughly
to ascertain that all are available and in good working condition,
except as may be noted thereon, but the signature of the Take-Over
form by the Charterer shall be deemed to imply acceptance of the
Yacht which thereafter will be in the Charterer's full
responsibility and the Charterer shall have no right to claim for
any loss of time or expense occasioned by any accident or
breakdown or failure of any part of the Yacht.

Running Expenses

Repairs
of Damages

9.
After take-over, expenditures for port-dues, water, fuels, oils
and any other stores required, as well as the repair of any damage
or failure that may occur while the Yacht is in the Charterer's
responsibility and which are not the result of normal and natural
wear shall be made by the Charterer at his expense, provided that
he previously obtained the consent of the Owner for the technical
suitability of the repair to be made. In the case of repairs of
damages or failures resulting clearly from normal and natural
wear, the Charterer shall previously obtain the Owner's consent
with regard to the cost and technical suitability of these repairs
and the Charterer shall collect the pertinent receipts against
which he shall be refunded by the Owner at the end of the charter.

Ascertainment
of Damages

10.
If any accident or damage is caused by the Yacht, the Charterer
shall request from the nearest Port Authority to ascertain the
damage or accident and the circumstances in which it has been
caused and to make a written record and statement about it and he
shall notify the Owner at the same time.

Cancellation or
Premature Termination

11.
In the event of cancellation of the charter by the Charterer, for
any reason, except as mentioned in Clause 3 (c) (III), after
signing this Agreement, all advance payments made up to the date
of cancellation will be retained by the Owner, and the Owner
reserves the right to refund the said deposits only if he succeeds
in letting the Yacht to another Charterer for the same period and
under the same conditions. In the event that the Charterer should
elect to terminate the charter and deliver the Yacht prior to the
date designated in this Agreement,
the Owner shall not be liable to the return of any proportional
part of the hire money.

Total loss of Yacht

12.
Should the Yacht become an actual or constructive total loss
before or during the charter period, this Agreement shall be
deemed to be at an end and the Charterer shall recover from the
Owner all charter money paid in advance to the Owner only in case
the loss has occurred before the charter period, or during the
charter period, provided that the Charterer or his crew were not
responsible for the loss.

Special
Provisions

13.
The special provisions if any, set out in the Schedule hereto are
fully accepted and form part of this Agreement.

Agents

14.
The Agents of the Owners, act
in good faith on behalf of both Owner and Charterer but contract
as Agents only and in no way incur any liability for any acts,
matters or things done, committed, omitted or suffered by either
party, except for the responsibilities provided by the pertinent
legislation of Greece.

Arbitration
of Disputes

15.
In the event of any dispute arising between the parties hereto
with respect to this Agreement or anything herein contained the
same shall be referred to two Arbitrators in Greece one to be
appointed by each party, whose decision shall be final or to an
Umpire to be appointed by such Arbitrators, if and when they shall
disagree, the decision in such event of the Umpire to be final.

SPECIAL
PROVISIONS OR TERMS

Additional
Conditions

(if
any)

Yacht
should be in the port of disembarkation latest by 18:00
the evening before the last day of the charter, for overnight
accommodation on board until 09:00 of the last day.