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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000919574-07-005811.txt : 20071213
<SEC-HEADER>0000919574-07-005811.hdr.sgml : 20071213
<ACCEPTANCE-DATETIME>20071213170247
ACCESSION NUMBER:		0000919574-07-005811
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20071213
DATE AS OF CHANGE:		20071213

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Star Bulk Carriers Corp.
		CENTRAL INDEX KEY:			0001386716
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-83429
		FILM NUMBER:		071305104

	BUSINESS ADDRESS:	
		STREET 1:		40 AG. KONSTANTINOU AVENUE
		STREET 2:		AETHRION CENTER, SUITE B34, MAROUSSI 151
		CITY:			ATHENS
		STATE:			J3
		ZIP:			00000
		BUSINESS PHONE:		011-30-210-638-7399

	MAIL ADDRESS:	
		STREET 1:		40 AG. KONSTANTINOU AVENUE
		STREET 2:		AETHRION CENTER, SUITE B34, MAROUSSI 151
		CITY:			ATHENS
		STATE:			J3
		ZIP:			00000

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			F5 CAPITAL
		CENTRAL INDEX KEY:			0001421106
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		STREET 1:		C/O CAMPBELL CORPORATE SERVICES LIMITED
		STREET 2:		SCOTIA CENTRE, P.O. BOX 268
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1104
		BUSINESS PHONE:		886 2 2175 0247

	MAIL ADDRESS:	
		STREET 1:		C/O CAMPBELL CORPORATE SERVICES LIMITED
		STREET 2:		SCOTIA CENTRE, P.O. BOX 268
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1104
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>d836558_13-d.htm
<TEXT>
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  <head>
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              <td align="left" valign="top" width="28%" style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">OMB
                  APPROVAL</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">OMB
                  Number: 3235-0145</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Expires:
                  February 28, 2009</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Estimated
                  average burden</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">hours
                  per response&#8230;&#8230;&#8230;11</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;"><strong>UNITED
        STATES</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;"><strong>SECURITIES
        AND EXCHANGE COMMISSION</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;"><strong>WASHINGTON,
        DC 20549</strong></font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;"><strong>SCHEDULE
        13D</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">THE
        SECURITIES EXCHANGE ACT OF 1934</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">(Amendment
        No.____________)*</font></div>
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            <tr>
              <td valign="top" width="82%" style="BORDER-BOTTOM: black 2px solid">
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                  Bulk Carriers Corp.</font></div>
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            </tr>
            <tr>
              <td valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(Name
                  of Issuer)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

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              <td valign="top" width="82%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Common
                  Stock</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(Title
                  of Class of Securities)</font></div>
              </td>
            </tr>

        </table>
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      <div><br></div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="82%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Y8162K105</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(CUSIP
                  Number)</font></div>
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            </tr>

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      <div><br></div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

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                  Su</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">8F
                  No,126 Sec. 1 Jianguo N Rd.</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Jhongshen
                  District, Taipei City 104</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Taiwan,
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                  886 2 2175 0247</font></div>
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                  Address and Telephone Number of Person Authorized to Receive</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Notices
                  and Communications)</font></div>
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      <div><br></div>
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        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="82%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">December
                  3, 2007</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(Date
                  of Event Which Requires Filing of this
                  Statement)</font></div>
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        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" colspan="2" valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">If
                  the filing person has previously filed a statement on Schedule
                  13G to
                  report the acquisition that is the subject of this Schedule 13D,
                  and is
                  filing this schedule because of ss.240.13D-1(e), 240.13d-1(f) or
                  240.13d-1(g), check the following box [_].</font></div>
              </td>
            </tr>
            <tr>
              <td colspan="2" valign="top" width="82%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td align="left" colspan="2" valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Note:&#160;&#160;Schedules
                  filed in paper format shall include a signed original and five
                  copies of
                  the schedule, including all exhibits.&#160;&#160;See <font style="DISPLAY: inline; FONT-FAMILY: (default font), times new roman, serif;">&#167;</font>&#160;240.13d-7
                  for other parties to whom copies are to be sent.</font></div>
              </td>
            </tr>
            <tr>
              <td colspan="2" valign="top" width="82%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="8%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="74%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td align="left" colspan="2" valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">*&#160;&#160;&#160;The
                  remainder of this cover page shall be filled out for a reporting
                  person's
                  initial filing on this form with respect to the subject class of
                  securities, and for any subsequent amendment containing information
                  which
                  would alter disclosures provided in a prior cover
                  page.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="82%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td align="left" valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">The
                  information required on the remainder of this cover page shall
                  not be
                  deemed to be "filed" for the purpose of Section 18 of the Securities
                  Exchange Act of 1934 ("Act") or otherwise subject to the liabilities
                  of
                  that section of the Act but shall be subject to all other provisions
                  of
                  the Act (however, see the Notes).</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">CUSIP
                  No.</font></div>
              </td>
              <td align="left" valign="top" width="31%" style="BORDER-BOTTOM: black 2px solid">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Y8162K105</font></div>
              </td>
              <td valign="top" width="31%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">1.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">NAME
                  OF REPORTING PERSONS</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">I.R.S.
                  IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">F5
                  Capital</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

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      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">2.</font></div>
              </td>
              <td align="left" colspan="3" valign="top" width="78%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">CHECK
                  THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(a)</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">[_]</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(b)</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">[X]</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">3.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">SEC
                  USE ONLY</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">4.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">SOURCE
                  OF FUNDS*</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">AF</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">5.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">CHECK
                  BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
                  ITEMS 2(d)
                  OR 2(e)</font></div>
              </td>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="bottom" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">[_]</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td colspan="2" valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td colspan="2" valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">6.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">CITIZENSHIP
                  OR PLACE OF ORGANIZATION</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Cayman
                  Islands</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" colspan="3" valign="top" width="85%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">NUMBER
                  OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
                  WITH</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">7.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">SOLE
                  VOTING POWER</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">0</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">8.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">SHARED
                  VOTING POWER</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">12,537,645</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">9.</font></div>
              </td>
              <td align="left" colspan="2" valign="top" width="78%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">SOLE
                  DISPOSITIVE POWER</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">0</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">10.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">SHARED
                  DISPOSITIVE POWER</font></div>
              </td>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td colspan="2" valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">12,537,645</font></div>
              </td>
              <td colspan="2" valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">11.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">AGGREGATE
                  AMOUNT BENEFICIALLY OWNED BY EACH REPORTING <font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">PERSON</font></font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">12,537,645</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">12.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">CHECK
                  BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES</font></div>
              </td>
              <td colspan="2" valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">CERTAIN
                  SHARES*</font></div>
              </td>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">[_]&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td colspan="2" valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">13.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">PERCENT
                  OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">30.2%</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">14.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">TYPE
                  OF REPORTING PERSON*</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">CO</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">*SEE
                  INSTRUCTIONS BEFORE FILING OUT</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">CUSIP
                  No.</font></div>
              </td>
              <td align="left" valign="top" width="31%" style="BORDER-BOTTOM: black 2px solid">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Y8162K105</font></div>
              </td>
              <td valign="top" width="31%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">1.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">NAME
                  OF REPORTING PERSONS</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">I.R.S.
                  IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Nobu
                  Su</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">2.</font></div>
              </td>
              <td align="left" colspan="3" valign="top" width="78%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">CHECK
                  THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(a)</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">[_]</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(b)</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">[X]</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">3.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">SEC
                  USE ONLY</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">4.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">SOURCE
                  OF FUNDS*</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">AF</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">5.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">CHECK
                  BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
                  ITEMS 2(d)
                  OR 2(e)</font></div>
              </td>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="bottom" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">[_]</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td colspan="2" valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td colspan="2" valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">6.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">CITIZENSHIP
                  OR PLACE OF ORGANIZATION</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Republic
                  of China</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" colspan="3" valign="top" width="85%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">NUMBER
                  OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
                  WITH</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">7.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">SOLE
                  VOTING POWER</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">0</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">8.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">SHARED
                  VOTING POWER</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">12,537,645</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">9.</font></div>
              </td>
              <td align="left" colspan="2" valign="top" width="78%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">SOLE
                  DISPOSITIVE POWER</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">0</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">10.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">SHARED
                  DISPOSITIVE POWER</font></div>
              </td>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td colspan="2" valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">12,537,645</font></div>
              </td>
              <td colspan="2" valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">11.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">AGGREGATE
                  AMOUNT BENEFICIALLY OWNED BY EACH REPORTING <font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">PERSON</font></font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">12,537,645</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">12.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">CHECK
                  BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES</font></div>
              </td>
              <td colspan="2" valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">CERTAIN
                  SHARES*</font></div>
              </td>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">[_]&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td colspan="2" valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">13.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">PERCENT
                  OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">30.2%</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">14.</font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">TYPE
                  OF REPORTING PERSON*</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">IN</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">*SEE
                  INSTRUCTIONS BEFORE FILING OUT</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="7%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="69%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">CUSIP
                  No.</font></div>
              </td>
              <td align="left" valign="top" width="31%" style="BORDER-BOTTOM: black 2px solid">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Y8162K105</font></div>
              </td>
              <td valign="top" width="31%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td colspan="2" valign="top" width="63%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Item
                  1.</font></div>
              </td>
              <td align="left" valign="top" width="63%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Security
                  and Issuer.</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="63%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">This
                  statement on Schedule 13D relates to the shares of common stock,
                  par value
                  $0.01 (the &#8220;Common Stock&#8221;), of Star Bulk Carriers Corp., a Marshall
                  Islands corporation (the &#8220;Issuer&#8221;), and is being filed pursuant to Rule
                  13d-1 under the Securities Exchange Act of 1934, as amended (the
&#8220;Exchange
                  Act&#8221;).&#160;&#160;The principal executive offices of the Issuer are
                  located at 40 Ag. Konstantinou Avenue, Aethrion Center, Suite B34,
                  Maroussi 15124, Athens, Greece.</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Item
                  2.</font></div>
              </td>
              <td align="left" valign="top" width="63%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Identity
                  and Background.</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="6%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(a)</font></div>
              </td>
              <td align="left" valign="top" width="57%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">This
                  Schedule 13D is being filed by F5 Capital (&#8220;F5&#8221;) and Mr. Nobu Su, the
                  Director of F5 (&#8220;Nobu Su&#8221;, and together with F5, the &#8220;Reporting
                  Persons&#8221;).</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="57%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="6%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(b)</font></div>
              </td>
              <td align="left" valign="top" width="57%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">The
                  principal business address for each of the Reporting Persons
                  is:</font></div>
                <div>&#160;</div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">F5
                  Capital</font></div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Campbell
                  Corporate Services Limited</font></div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Scotia
                  Centre</font></div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">P.O.
                  Box 268</font></div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Grand
                  Cayman KY1-1104</font></div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Cayman
                  Islands</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="6%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(c)</font></div>
              </td>
              <td align="left" valign="top" width="57%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">The
                  principal business of F5 is to carry on the business of an investment
                  company and for that purpose to invest and deal in securities,
                  including
                  to act as nominee for TMT Co., Ltd., an affiliate of F5 which maintains
                  an
                  international fleet of shipping carriers.&#160;&#160;The principal
                  occupation of Nobu Su is to serve as Chief Executive Officer of
                  TMT Co.,
                  Ltd.</font></div>
                <div>&#160;</div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">F5
                  is wholly-owned by Nobu Su and, as a result, Nobu Su may be deemed
                  to
                  control such entity.&#160;&#160;Accordingly, Nobu Su may be deemed to have
                  a beneficial interest in the shares of Common Stock by virtue of
                  F5&#8217;s
                  power to vote and/or dispose of the shares of Common Stock.&#160;&#160;F5
                  and Nobu Su disclaim beneficial ownership of the shares of Common
                  Stock
                  except to the extent of their pecuniary interest, if any,
                  therein.</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="57%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="6%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(d)</font></div>
              </td>
              <td align="left" valign="top" width="57%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Neither
                  of the Reporting Persons has, during the last five years, been
                  convicted
                  in a criminal proceeding (excluding traffic violations or similar
                  misdemeanors).</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="57%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="6%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(e)</font></div>
              </td>
              <td align="left" valign="top" width="57%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Neither
                  of the Reporting Persons was, during the last five years, a party
                  to a
                  civil proceeding of a judicial or administrative body of competent
                  jurisdiction and as a result of such proceeding was or is subject
                  to a
                  judgment, decree or final order enjoining future violations of,
                  or
                  prohibiting or mandating activities subject to, federal or state
                  securities laws or finding any violation with respect to such
                  laws.</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="6%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(f)</font></div>
              </td>
              <td align="left" valign="top" width="57%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">The
                  citizenship of each Reporting Person is as follows:</font></div>
                <div>&#160;</div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">F5:
                  Cayman Islands corporation; and</font></div>
                <div>&#160;</div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Nobu
                  Su: Citizen of the Republic of China.</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td colspan="2" valign="top" width="63%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Item
                  3.</font></div>
              </td>
              <td align="left" valign="top" width="63%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Source
                  and Amount of Funds or Other Consideration.</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="63%" style="PADDING-BOTTOM: 2px">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">The
                  funds used for the acquisition of the shares of Common Stock consisted
                  of
                  consideration from the sale of eight drybulk carriers by affiliates
                  of the
                  Reporting Persons to the Issuer, as described in Item 4.</font></div>
                <div>&#160;</div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">No
                  borrowed funds were used to purchase the shares of Common Stock,
                  other
                  than any borrowed funds used for working capital purposes in the
                  ordinary
                  course of business.</font></div>
                <div>&#160;</div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Item
                  4.</font></div>
              </td>
              <td align="left" valign="top" width="63%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Purpose
                  of Transaction.</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="63%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">On
                  January 12, 2007, Star Maritime Acquisition Corp., a Delaware corporation
                  (&#8220;Star Maritime&#8221;), through its wholly-owned subsidiary, the Issuer, agreed
                  to purchase eight drybulk carriers (the &#8220;Vessels&#8221;, and such purchase, the
                  &#8220;Vessel Acquisition&#8221;) from certain wholly-owned subsidiary affiliates of
                  TMT Co., Ltd., a Taiwan corporation (TMT Co., Ltd. and such subsidiary
                  affiliates, collectively, &#8220;TMT&#8221;), pursuant to separate definitive
                  Memoranda of Agreement by and between the Issuer and TMT, as supplemented
                  by a Supplemental Agreement by and among the Star Maritime, the
                  Issuer and
                  TMT and a Master Agreement, dated January 12, 2007, as amended,
                  by and
                  among Star Maritime, the Issuer and TMT (the &#8220;Master Agreement&#8221;, attached
                  hereto as Exhibit 2).&#160;&#160;As described in the Master Agreement, the
                  aggregate purchase price for the Vessels is $345.2 million, consisting
                  of
                  $120.7 million payable in 12,537,645 shares of Common Stock and
                  $224.5
                  million payable in cash plus an additional 1,606,962 shares of
                  Common
                  Stock of the Issuer payable in two installments.&#160;&#160;F5 has been
                  designated by TMT to act as TMT&#8217;s nominee to hold all Common Stock from
                  the Vessel Acquisition and acquired such shares on December 3,
                  2007.</font></div>
                <div>&#160;</div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">The
                  Reporting Persons have acquired their Common Stock of the Issuer
                  for
                  investment.&#160;&#160;The&#160;&#160;Reporting Persons have no plans or
                  proposals as of the date of this filing which, other than as expressly
                  set
                  forth below, would relate to or would result in: (a) any extraordinary
                  corporate transaction involving the Issuer; (b) any material change
                  in the
                  present capitalization or dividend policy of the Issuer; (c) any
                  material
                  change in the operating policies or corporate structure of the
                  Issuer; (d)
                  any change in the Issuer's charter or by-laws; (e) the Common Stock
                  of the
                  Issuer ceasing to be authorized to be quoted in the NASDAQ inter-dealer
                  quotation system; or (f) causing the Issuer becoming eligible for
                  termination of registration pursuant to Section 12(g)(4) of the
                  Exchange
                  Act.</font></div>
                <div>&#160;</div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br>&#160;</div>
      <div>&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="15%">
              </td>
              <td align="left" valign="top" width="74%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">The
                  Reporting Persons reserve the right, based on all relevant factors
                  and
                  subject to applicable law, at any time and from time to time, to
                  review or
                  reconsider their position, change their purpose, take other actions
                  (including actions that could involve one or more of the types
                  of
                  transactions or have one or more of the results described in items
                  (a)
                  through (f) of the preceding paragraph) or formulate and implement
                  plans
                  or proposals with respect to any of the foregoing.</font></div>
                <div>&#160;</div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Under
                  the Master Agreement, TMT has the right to nominate, and the Issuer
                  and
                  Star Maritime have agreed to cause the appointment and election
                  of two
                  members of the board of directors of the Issuer: Nobu Su and Peter
                  Espig,
                  each of whom serve upon the effective time of the merger of Star
                  Maritime
                  into the Issuer, with the Issuer as the surviving corporation (the
                  &#8220;Redomiciliation Merger&#8221;), which became effective on November 30, 2007,
                  for one year from the date thereof for Nobu Su and for two years
                  from the
                  date thereof for Peter Espig, until their successors have been
                  duly
                  elected and qualified.&#160;&#160;For so long as Nobu Su serves on the
                  board of directors of the Issuer, he will receive the title of
                  non-executive Co-Chairman of the Issuer.</font></div>
                <div>&#160;</div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">The
                  Reporting Persons reserve the right to act in concert with any
                  other
                  shareholders of the Issuer, or other persons, for a common purpose
                  should
                  they determine to do so, and/or to recommend&#160;&#160;courses of action
                  to management and the shareholders of the Issuer.</font></div>
              </td>
              <td valign="top" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div>&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Item
                  5.</font></div>
              </td>
              <td align="left" valign="top" width="63%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Interest
                  in Securities of the Issuer.</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="63%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="6%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(a)</font></div>
              </td>
              <td align="left" valign="top" width="57%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">As
                  of the date hereof, F5 may be deemed to be the beneficial owner
                  of
                  12,537,645 shares of Common Stock, representing 30.2% of the Common
                  Stock
                  outstanding and deemed to be outstanding based upon the Issuer&#8217;s
                  prospectus dated November 2, 2007.&#160;&#160;F5 specifically disclaims
                  beneficial ownership in the shares of Common Stock reported herein
                  except
                  to the extent of its pecuniary interest therein.</font></div>
                <div>&#160;</div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">As
                  of the date hereof, Nobu Su may be deemed to be the beneficial
                  owner of
                  12,537,645 shares of Common Stock, representing 30.2% of the Common
                  Stock
                  outstanding and deemed to be outstanding based upon the Issuer&#8217;s
                  prospectus dated November 2, 2007.&#160;&#160;Nobu Su specifically
                  disclaims beneficial ownership in the shares of Common Stock reported
                  herein except to the extent of his pecuniary interest
                  therein.</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="57%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="6%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(b)</font></div>
              </td>
              <td align="left" valign="top" width="57%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">F5
                  has the sole power to vote or direct the vote of 0 shares of Common
                  Stock;
                  has the shared power to vote or direct the vote of 12,537,645 shares
                  of
                  Common Stock; has sole power to dispose or direct the disposition
                  of 0
                  shares of Common Stock; and has shared power to dispose or direct
                  the
                  disposition of 12,537,645 shares of Common Stock.</font></div>
                <div>&#160;</div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Nobu
                  Su has the sole power to vote or direct the vote of 0 shares of
                  Common
                  Stock; has the shared power to vote or direct the vote of 12,537,645
                  shares of Common Stock; has sole power to dispose or direct the
                  disposition of 0 shares of Common Stock; and has shared power to
                  dispose
                  or direct the disposition of 12,537,645 shares of Common
                  Stock.</font></div>
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              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="6%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(c)</font></div>
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              <td align="left" valign="top" width="57%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">The
                  Reporting Persons acquired 12,537,645 shares of Common Stock on
                  December
                  3, 2007 as consideration from the sale of the Vessels by TMT to
                  the
                  Issuer.&#160;&#160;No other transactions in Common Stock were effected by
                  the Reporting Persons during the past sixty days.</font></div>
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              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="57%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="6%">
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                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">No
                  person other than the Reporting Persons is known to have the right
                  to
                  receive, or the power to direct the receipt of, dividends from,
                  or
                  proceeds from the sale of, the Shares reported in this Schedule
                  13D.</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="6%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">(e)</font></div>
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                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Not
                  applicable.</font></div>
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              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="57%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Item
                  6.</font></div>
              </td>
              <td align="left" valign="top" width="63%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Contracts,
                  Arrangements, Understandings or Relationships with Respect</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="63%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">to
                  Securities of the Issuer.</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="63%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Except
                  for the matters described herein, including Item 4, neither the
                  Reporting
                  Persons nor, to the best knowledge of any Reporting Person, any
                  of the
                  persons listed in Item 2 has any contract, arrangement, understanding
                  or
                  relationship with any person with respect to any securities of
                  the
                  Issuer.</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Item
                  7.</font></div>
              </td>
              <td align="left" valign="top" width="63%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Material
                  to be Filed as Exhibits.</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="63%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">1.
                  Joint Filing Agreement, by and among the Reporting Persons, dated
                  December
                  13, 2007</font></div>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">2.
                  Master Agreement, dated as of January 12, 2007 (as
                  amended)</font></div>
              </td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="63%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="top" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div>
      <div><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">SIGNATURE</font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">After
        reasonable inquiry and to the best of my knowledge and belief, I certify
        that
        the information set forth in this statement is true, complete and
        correct.</font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">Dated:
        December 13, 2007</font></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="41%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="41%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">F5
                  CAPITAL</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">By:
                  <u>/s/ Nobu
                  Su</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Name:
                  Nobu Su</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Title:
                  Director</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="41%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="41%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">By:
                  <u>/s/ Nobu Su</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Name:
                  Nobu Su</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">Attention:&#160;&#160;Intentional
        misstatements or omissions of fact constitute Federal criminal violations
        (see
        18&#160;U.S.C. 1001).</font></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;"><u>Exhibit
        1</u></font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">Joint
        Acquisition Statement</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">Pursuant
        to Section 240.13d-1(k)</font></div>
      <div><br></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">The
        undersigned acknowledge and agree that the foregoing statement on Schedule
        13D
        is filed on behalf of each of the undersigned and that all subsequent amendments
        to this statement on Schedule 13D shall be filed on behalf of each of the
        undersigned without the necessity of filing additional joint acquisition
        statements. The undersigned acknowledge that each shall be responsible for
        the
        timely filing of such amendments, and for the completeness and accuracy of
        the
        information concerning him or it contained therein, but shall not be responsible
        for the completeness and accuracy of the information concerning the other
        entities or persons, except to the extent that he or it knows or has reason
        to
        believe that such information is inaccurate.</font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif;">Dated:
        December 13, 2007</font></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td align="left" valign="top" width="42%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">F5
                  CAPITAL</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">By:
                  <u>/s/ Nobu
                  Su</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Name:
                  Nobu Su</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Title:
                  Director</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="42%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="42%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">By:
                  <u>/s/ Nobu Su&#160;&#160;&#160;&#160;&#160;&#160;&#160;</u></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman, serif;">Name:
                  Nobu Su</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><u>Exhibit
        2</u></font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>MASTER
        AGREEMENT</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">dated
        as of January&#160;12, 2007</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">by
        and among</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        CO.,&#160;LTD.,</strong></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">and</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>STAR
        MARITIME ACQUISITION CORP.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">relating
        to the purchase of</font></div>
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        drybulk carriers</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="center"><a name="page_mq41101_1_2"/><a name="mq41101_master_agreement"/><a name="toc_mq41101_1"><br></a></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>MASTER
        AGREEMENT</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;THIS
        MASTER AGREEMENT, dated as of January&#160;12, 2007 (this "<em>Agreement</em>"),
        is made by and among TMT CO.,&#160;LTD., a Taiwan corporation (the
        "<em>Seller</em>"), STAR BULK CARRIERS CORP., a Marshall Islands corporation
        (the "<em>Buyer</em>"), and STAR MARITIME ACQUISITION CORP., a Delaware
        corporation ("<em>Star Maritime</em>").</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify"><a name="toc_mq41101_2"/>&#160;</div>
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        the Seller and the Buyer desire to effect the transfer by the Seller's Vessel
        Owning Subsidiaries to the Buyer or its nominees of all of the Vessel Owning
        Subsidiaries' right, title and interest in and to the Vessels in accordance
        with
        the terms of the MOAs and the Supplemental Agreement.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;NOW,
        THEREFORE, in consideration of the foregoing premises, and the mutual covenants
        and agreements herein contained, and for other good and valuable consideration,
        the receipt and sufficiency of which are hereby acknowledged, the parties
        hereto
        agree as follows:</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>SECTION
        1.&#160;&#160;&#160;&#160;</strong><em>Definitions</em>.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)<em>&#160;&#160;&#160;&#160;Definitions.</em>&#160;&#160;&#160;&#160;For
        purposes of this Agreement, the following terms shall have the following
        meanings:</font></div>
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        Purchase Price</em>" means $345,237,520.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Buyer
        Common Stock</em>" means the common stock, par value $0.01 per share, of the
        Buyer.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Cash
        Consideration</em>" means $224,499.998.65.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Effective
        Date of Merger</em>" has the meaning set forth in the Supplemental
        Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Exchange
        Act</em>" shall mean the Securities Exchange Act of 1934, as amended, or any
        similar federal statute, and the rules and regulations of the Commission
        thereunder, all as the same shall be in effect from time to time.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Forecasted
        Annual Consolidated Revenue</em>" means the forecasted annual Revenue of the
        Buyer, as shall be agreed between the Buyer and the Seller with reference
        to the
        Vessels' employment once arranged, in writing at or prior to the Effective
        Date
        of Merger.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Memoranda
        of Agreement</em>" or "MOAs" means the separate memoranda of agreement relating
        to the Vessels, each dated the date hereof, between the Buyer or its nominees
        and the Vessel Owning Subsidiaries, each of which are attached hereto as
        <em>Exhibit&#160;A.</em></font></div>
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          <div style="WIDTH: 100%; LINE-HEIGHT: 11.4pt; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
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          <div id="GLHDR" style="WIDTH: 100%; LINE-HEIGHT: 11.4pt" align="right">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Memorandum
        of Understanding</em>" means the letter agreement dated November&#160;23, 2006
        by and between the Seller and Star Maritime.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Merger</em>"
        means the business combination of Star Maritime with the Buyer effected by
        way
        of a merger in which the Buyer is the surviving corporation and where the
        merger
        consideration consists of one share of Buyer Common Stock for each share
        of
        common stock of Star Maritime.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>NASD</em>"
        shall mean the National Association of Securities Dealers,&#160;Inc., or any
        successor self regulatory organization.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Registrable
        Securities</em>" shall mean the Buyer Common Stock issued to and owned by the
        Seller, the Vessel Owning Subsidiaries or any Seller Affiliates (i)&#160;as the
        Stock Consideration and (ii)&#160;under Section&#160;2(b) hereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><a name="page_mq41101_1_3">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Registrable
        Securities Holder</em>" shall mean any of the Seller, the Vessel Owning
        Subsidiaries or a Seller Affiliate holding the Registrable
        Securities.</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Revenue</em>"
        means gross revenue of the Buyer and its consolidated subsidiaries which
        own and
        operate the Vessels, as determined under United States generally accepted
        accounting principles.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>SEC</em>"
        or "<em>Commission</em>" means the United States Securities and Exchange
        Commission.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Securities
        Act</em>" shall mean the Securities Act of 1933, as amended, or any similar
        federal statute, and the rules and regulations of the Commission thereunder,
        all
        as the same shall be in effect from time to time.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Seller
        Affiliates</em>" shall mean any entity which is an "affiliate" of the Seller, as
        that term is defined under Rule&#160;144 (in effect as of the date hereof)
        promulgated under the Securities Act.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Stock
        Consideration</em>" means 12,537,645 shares of Buyer Common Stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Supplemental
        Agreement</em>" means the agreement by and among Star Maritime, the Buyer and
        the Seller, dated the date hereof, relating to the purchase of the Vessels
        and
        attached hereto as <em>Exhibit&#160;B.</em></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>USD</em>"
        or "<em>$</em>" means legal tender of the United States of America.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Vessel</em>"
        or "<em>Vessels</em>" means each of the vessels, and collectively, all of the
        vessels being sold pursuant to the MOAs listed in Schedule&#160;3 of the
        Supplemental Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;"<em>Vessel
        Owning Subsidiaries</em>" means the subsidiaries of the Seller that are party to
        the Memoranda of Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>SECTION
        2.&#160;&#160;&#160;&#160;</strong><em>Purchase Price:
        Earn-out</em>.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;The
        Buyer or its subsidiary nominees shall purchase the Vessels for the Aggregate
        Purchase Price, which consists of two components: (1)&#160;the Stock
        Consideration and (2)&#160;the Cash Consideration. The Aggregate Purchase Price
        shall be paid in accordance with the terms and provisions of the Memoranda
        of
        Agreement and the Supplemental Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;In
        addition to the Aggregate Purchase Price:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1)&#160;&#160;&#160;With
        respect to the short fiscal year of the Buyer commencing as of the Effective
        Date of Merger and ending on December&#160;31, 2007, in the event that the Buyer
        achieves Revenue for such short fiscal year equal to or in excess of 80%
        of the
        Forecasted Annual Consolidated Revenue for such short fiscal year, then the
        Seller shall be entitled to receive, promptly following the Buyer's filing
        of
        its Annual Report on Form&#160;20-F for such fiscal year, an additional 803,481
        shares of Buyer Common Stock (which shall be issued no later than ten
        (10)&#160;business days following the filing of such Annual Report to the
        Seller, the Vessel Owning Subsidiaries and/or a Seller Affiliate, as directed
        by
        the Seller); plus</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2)&#160;&#160;&#160;With
        respect to the first full fiscal year of the Buyer following the Merger
        commencing on January&#160;1, 2008 and ending on December&#160;31, 2008, in the
        event that the Buyer achieves Revenue for such first full fiscal year equal
        to
        or in excess of 80% of the Forecasted Annual Consolidated Revenue for such
        first
        full fiscal year, then the Seller shall be entitled to receive, promptly
        following the Buyer's filing of its Annual Report on Form&#160;20-F for such
        fiscal year, an additional 803,481 shares of Buyer Common Stock (which shall
        be
        issued no later than ten <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">(10)&#160;business
        days following the filing of such Annual Report to the Seller, the Vessel
        Owning
        Subsidiaries or a Seller Affiliate, as directed by the
        Seller).</font></font></div>
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        <div id="FTR" style="LINE-HEIGHT: 11.4pt">
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          <div style="WIDTH: 100%; LINE-HEIGHT: 11.4pt; TEXT-ALIGN: center">
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          <div id="GLHDR" style="WIDTH: 100%; LINE-HEIGHT: 11.4pt" align="right">
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      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)&#160;&#160;&#160;In
        addition to the terms and provisions of the MOAs and the Supplemental Agreement,
        the Buyer's obligations hereunder shall also be subject to the Buyer obtaining
        debt financing in such <a name="page_mq41101_1_4">amount as necessary in
        order for
        the Buyer to fund a portion of the Cash Consideration in excess of its
        cash-on-hand immediately following the Merger.</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;SECTION
        3.</strong>&#160;&#160;&#160;&#160;<em>Covenants of the
        Seller</em>.&#160;&#160;&#160;&#160;Until the delivery of each of the Vessels,
        the Seller shall (and shall cause the Vessel Owning Subsidiaries, as applicable,
        to): (a)&#160;use its commercially reasonable efforts to: (i)&#160;prevent the
        Vessel Owning Subsidiaries from becoming insolvent (within the meaning of
        the
        U.S. Bankruptcy Code), (ii)&#160;continue to operate its business as it is
        currently conducted, (iii)&#160;retain ownership and possession of the Vessels
        (subject to any charters in respect of the Vessels) and (iv)&#160;forbear from
        creating any new liens, claims or encumbrances of any kind upon the Vessels
        or
        any other material assets of the Vessel Owning Subsidiaries (except, in each
        case, other than in the ordinary course of business and subject to any charters
        in respect of the Vessels) and (b)&#160;forbear from selling any interest in any
        Vessel Owning Subsidiary and cause each Vessel Owning Subsidiary to forbear
        from
        issuing any capital stock or other securities to, or making loans (other
        than in
        the ordinary course of its business) to, any person other than the
        Seller.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;SECTION
        4.</strong>&#160;&#160;&#160;&#160;<em>Covenants of Star
        Maritime</em>.&#160;&#160;&#160;&#160;Star Maritime shall use its commercially
        reasonable efforts to: (a)&#160;as soon as is reasonably practicable following
        the date hereof, file&#160;a registration/proxy statement on Form&#160;F-4 or
        S-4 with the SEC: (i)&#160;soliciting the vote of Star Maritime's stockholders
        in favor of the Merger and the purchase of the Vessels as contemplated hereby
        and (ii)&#160;subject to provisions of Section&#160;5(a) below, registering the
        Registrable Securities with the SEC, (b)&#160;comply, and cause the Buyer and
        its Vessel purchasing nominees to comply with all other applicable rules
        and
        regulations of the SEC, (c)&#160;obtain, on behalf of itself, the Buyer and its
        Vessel purchasing nominees, all approvals, consents, exemptions or
        authorizations from such governmental agencies or authorities, and take all
        other actions, as may be necessary or reasonably appropriate in order to
        effect
        the Merger and transactions contemplated by this Agreement, the Supplemental
        Agreement and the MOAs.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;SECTION
        5.</strong>&#160;&#160;&#160;&#160;<em>Registration Rights: Lock
        Up.</em></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)<em>&#160;&#160;&#160;&#160;Registration
        on Form&#160;F-4.</em>&#160;&#160;&#160;&#160;Buyer shall include the
        Registrable Securities on Buyer's Registration Statement on Form&#160;F-4 or S-4
        contemplated in Section&#160;4(a) above to the extent that such inclusion would
        not, in Buyer's reasonable judgment after receiving written comments from
        the
        SEC that address the registration of the Registrable Securities, materially
        hinder or delay the Commission's declaration of effectiveness
        thereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)<em>&#160;&#160;&#160;&#160;Required
        Shelf Registration.</em>&#160;&#160;&#160;&#160;After receipt of a written
        request from the Seller, on behalf of itself or any Registrable Securities
        Holder, requesting that the Buyer effect a registration under the Securities
        Act
        covering all of the shares of the Registrable Securities then unregistered
        and
        outstanding, and specifying the holders and intended method or methods of
        disposition thereof, the Buyer shall promptly file with the SEC a registration
        statement covering the Registrable Securities and, as expeditiously as is
        possible, use its commercially reasonable efforts to effect the registration
        under the Securities Act of such shares for sale, all to the extent required
        to
        permit the disposition (in accordance with the intended method or methods
        thereof, as aforesaid) of the Registrable Securities so registered;
<em>provided</em>, <em>however</em>, that the Buyer shall not be required to
        effect any such registrations pursuant to this Section&#160;5(b) unless the
        Buyer shall be eligible at any time to file&#160;a registration statement on
        Form&#160;F-3 or S-3 (or other comparable short form) under the Securities Act.
        If, at any time after giving the written notice under this Section&#160;5(b),
        the Seller shall notify the Buyer in writing that the Seller has determined
        for
        any reason not to proceed with the proposed offering, then the Buyer shall
        terminate such offering.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)<em>&#160;&#160;&#160;&#160;Incidental
        Registration.</em>&#160;&#160;&#160;&#160;(i)&#160;If, from and after the date
        that is one hundred and eighty (180)&#160;days following the Effective Date of
        Merger, the Buyer at any time proposes to file on its behalf and/or on behalf
        of
        any of its security holders other than any Registrable Securities Holder
        (the
        "<em>demanding security holders</em>") a registration statement under the
        Securities Act on any form (other than <a name="page_mq41101_1_5">a registration
        statement on Form&#160;F-4, S-4 or S-8 or any successor form for securities to
        be offered in a transaction of the type referred to in Rule&#160;145 under the
        Securities Act or to employees of the Buyer pursuant to any employee benefit
        plan, respectively) for the general registration of securities, it will give
        written notice to all the Registrable Securities Holders at least thirty
        (30)&#160;days before the initial filing with the Commission of such
        Registration Statement, which notice shall set forth the intended method
        of
        disposition of the securities proposed to be registered by the Buyer or the
        demanding security holders. The notice shall offer to include in such filing
        the
        aggregate number of shares of Registrable Securities as the Seller may request.
        The Seller shall be entitled to withdraw its request at any time before the
        time
        that the Registration Statement is declared effective and the offering has
        commenced.</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt">
        <div id="FTR" style="LINE-HEIGHT: 11.4pt">
          <div id="GLFTR" style="WIDTH: 100%; LINE-HEIGHT: 11.4pt" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; LINE-HEIGHT: 11.4pt">
          <div style="WIDTH: 100%; LINE-HEIGHT: 11.4pt; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; LINE-HEIGHT: 11.4pt; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR" style="LINE-HEIGHT: 11.4pt">
          <div id="GLHDR" style="WIDTH: 100%; LINE-HEIGHT: 11.4pt" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(ii)&#160;&#160;&#160;The
        Seller shall advise Buyer in writing within ten (10)&#160;business days after
        the date of receipt of such offer from Buyer, setting forth the amount of
        such
        Registrable Securities for which registration is requested and the holders
        thereof. The Buyer shall thereupon include in such filing the number of shares
        of Registrable Securities for which registration is so requested, subject
        to the
        next sentence, and shall use its commercially reasonable efforts to effect
        registration under the Securities Act of such shares. If a proposed public
        offering pursuant to this Section&#160;5(c) is an underwritten offering, and if
        the managing underwriter thereof shall advise the Buyer in writing that,
        in its
        opinion, the distribution of the Registrable Securities requested to be included
        in the registration concurrently with the securities being registered by
        the
        Buyer or such demanding security holder would materially and adversely affect
        the distribution of such securities by the Buyer or such demanding security
        holder, then all selling security holders (including the demanding security
        holder who initially requested such registration) shall reduce the amount
        of
        securities each intended to distribute through such offering on a pro rata
        basis, it being understood that the number of securities offered by the Buyer
        shall not be subject to any such pro rata reduction. Except as otherwise
        provided in Section&#160;5(e), all expenses of such registration shall be borne
        by the Buyer.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(d)<em>&#160;&#160;&#160;&#160;Registration
        Procedures.</em>&#160;&#160;&#160;&#160;If the Buyer is required by the
        provisions of Section&#160;5(b) or (c)&#160;to effect the registration of any of
        its securities under the Securities Act, the Buyer will, as expeditiously
        as
        possible:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(i)&#160;&#160;&#160;&#160;prepare
        and file with the Commission a registration statement with respect to such
        securities and use its commercially reasonable efforts to cause such
        registration statement to become and remain effective for a period of time
        required for the disposition of such securities by the holders thereof (which
        period of time shall be no later than the period that the Registrable Securities
        Holders could sell or dispose the Registrable Securities without restrictions
        pursuant to Rule&#160;144(k) promulgated under the Securities Act);</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(ii)&#160;&#160;&#160;prepare
        and file with the Commission such amendments and supplements to such
        registration statement and the prospectus used in connection therewith as
        may be
        necessary to keep such registration statement effective and to comply with
        the
        provisions of the Securities Act with respect to the sale or other disposition
        of all securities covered by such registration statement until the such time
        as
        all of such securities have been fully disposed of;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(iii)&#160;&#160;furnish
        to all selling security holders (including the Registrable Securities Holders)
        such number of copies of a prospectus, including a preliminary prospectus,
        in
        conformity with the requirements of the Securities Act, and such other
        documents, as such selling security holders may reasonably request;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(iv)&#160;&#160;use
        its commercially reasonable efforts to register or qualify the securities
        covered by such registration statement under such other securities or blue
        sky
        laws of such jurisdictions within the United States and Puerto Rico as each
        holder of such securities shall request (<em>provided</em>, <em>however</em>,
        that the Buyer shall not be obligated to qualify as a foreign corporation
        to do
        business <a name="page_mq41101_1_6">under the laws of any jurisdiction
        in which it
        is not then qualified or to file any general consent to service or process),
        and
        do such other reasonable acts and things as may be required of it to enable
        such
        holder to consummate the disposition in such jurisdiction of the securities
        covered by such registration statement;</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(v)&#160;&#160;&#160;furnish,
        at the request of the selling Registrable Securities Holder(s), on the date
        that
        such shares of Registrable Securities are delivered to the underwriters for
        sale
        pursuant to a registration that is underwritten or, if such Registrable
        Securities are not being sold through underwriters, on the date that the
        registration statement with respect to such shares of Registrable Securities
        becomes effective, (A)&#160;an opinion, dated such date, of the counsel
        representing the Buyer for the purposes of such registration, addressed to
        the
        underwriters, if any, and if such Registrable Securities are not being sold
        through underwriters, then to the selling Registrable Securities Holder(s),
        in
        customary form and covering matters of the type customarily covered in such
        legal opinions; and (B)&#160;a comfort letter dated such date, from the
        independent certified public accountants of the Buyer, addressed to the
        underwriters, if any, and the selling Registrable Securities Holder(s), in
        a
        customary form and covering matters of the type customarily covered by such
        comfort letters and as the they shall reasonably request;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(vi)&#160;&#160;enter
        into customary agreements (including an underwriting agreement in customary
        form, it being understood that any underwriting agreement entered into by
        the
        selling Registrable Securities Holder(s) with respect to an underwritten
        offering of Registrable Securities will impose customary indemnification
        obligations on the underwriter(s)) and take such other actions as are reasonably
        required in order to expedite or facilitate the disposition of such Registrable
        Securities;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(vii)&#160;&#160;&#160;cooperate
        reasonably with any managing underwriter to effect the sale of Registrable
        Securities, including but not limited to attendance of the Buyer's executive
        officers at any planned "road show" presentations to the extent that such
        attendance does not unduly or unreasonably impact the performance of such
        officer's duties;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt">
        <div id="FTR" style="LINE-HEIGHT: 11.4pt">
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          </div>
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          <div style="WIDTH: 100%; LINE-HEIGHT: 11.4pt; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; LINE-HEIGHT: 11.4pt; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(viii)&#160;&#160;&#160;notify
        the selling Registrable Securities Holder(s) and the underwriter(s), if any,
        in
        writing at any time when the Buyer is aware that offering documents include
        an
        untrue statement of a material fact or omit to state a material fact required
        to
        be stated therein or necessary to make the statements therein not misleading
        in
        light of the circumstances then existing, and at the request of any selling
        Registrable Securities Holder or underwriter, prepare and furnish to such
        person(s) such reasonable number of copies of any amendment or supplement
        to the
        offering documents as may be necessary so that, as thereafter delivered to
        the
        purchasers of such shares, such offering documents would not include any
        untrue
        statement of a material fact or omit to state a material fact required to
        be
        stated therein or necessary to make the statements therein not misleading
        in
        light of the circumstances then existing, and to deliver to purchasers of
        any
        other securities of the Buyer included in the offering copies of such offering
        documents as so amended or supplemented;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(ix)&#160;&#160;promptly
        notify the selling Registrable Securities Holder(s) of (A)&#160;the
        effectiveness of such offering documents, (B)&#160;the issuance by the
        Commission of an order suspending the effectiveness of the offering documents,
        or of the threat of any proceeding for that purpose, and (C)&#160;the suspension
        of the qualification of any securities to be included in the offering documents
        for sale in any jurisdiction or the initiation or threat of any proceeding
        for
        that purpose; and</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(x)&#160;&#160;&#160;cause
        all Registrable Securities registered hereunder to be listed on each securities
        exchange on which similar securities issued by the Buyer are then
        listed.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;It
        shall be a condition precedent to the obligation of the Buyer to take any
        action
        pursuant to this Section&#160;5 in respect of the securities which are to be
        registered at the request of the Registrable Securities Holder(s) that the
        Registrable Securities Holder(s) shall furnish to the Buyer such <a name="page_mq41101_1_7">information regarding the
        securities held by the
        Registrable Securities Holder(s) and the intended method of disposition thereof
        as the Buyer shall reasonably request and as shall be required in connection
        with the action taken by the Buyer.</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(e)<em>&#160;&#160;&#160;&#160;Expenses.</em>&#160;&#160;&#160;&#160;All
        expenses incurred in complying with this Section&#160;5, including, without
        limitation, all registration and filing fees (including all expenses incident
        to
        filing with the NASD), all "road show" expenses incurred by the Buyer or
        the
        Registrable Securities Holder(s) and all applicable selling security holders,
        printing expenses, fees and disbursements of counsel for the Buyer, the
        reasonable fees and expenses of one counsel for the selling security holders
        (selected by those holding a majority of the shares being registered), expenses
        of any special audits incident to or required by any such registration and
        expenses of complying with the securities or blue sky laws of any jurisdiction
        pursuant to Section&#160;5(d)(iv), shall be paid by the Buyer, except that the
        Buyer shall not be liable for any fees, discounts or commissions to any
        underwriter or any fees or disbursements of counsel for any underwriter in
        respect of the securities sold by any applicable selling security holders,
        including the Registrable Securities Holders.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(f)<em>&#160;&#160;&#160;&#160;Indemnification
        and Contribution.</em>&#160;&#160;&#160;&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(i)&#160;&#160;&#160;&#160;In
        the event of any registration of any Registrable Securities under the Securities
        Act pursuant to this Agreement, the Buyer shall indemnify and hold harmless
        the
        Registrable Securities Holders, their respective directors and officers,
        and
        each other person (including each underwriter) who participated in the offering
        of such Registrable Securities and each other person, if any, who controls
        the
        Registrable Securities Holders or such participating person within the meaning
        of the Securities Act (collectively, the "<em>Seller Indemnitees</em>") from and
        against any losses, claims, damages or liabilities, joint or several, to
        which a
        Seller Indemnitee may become subject under the Securities Act or any other
        statute or at common law, insofar as such losses, claims, damages or liabilities
        (or actions in respect thereof) arise out of or are based upon: (i)&#160;any
        untrue statement or any alleged untrue statement of any material fact contained
        or incorporated by reference, on the effective date thereof, in any registration
        statement under which such securities were registered under the Securities
        Act,
        any preliminary prospectus or final prospectus contained therein, any free
        writing prospectus or any amendment or supplement thereto, (ii)&#160;any
        omission or any alleged omission to state therein a material fact required
        to be
        stated therein or necessary to make the statements therein not misleading,
        or
        (iii)&#160;any other violation of any applicable securities laws, and in each of
        the foregoing circumstances shall pay for or reimburse the Seller Indemnitees
        for any legal or any other expenses reasonably incurred by all or any one
        of the
        Seller Indemnitees in connection with investigating or defending any such
        loss,
        claim, damage, liability or action; <em>provided</em>, <em>however</em>, that,
        with respect to any Seller Indemnitee, the Buyer shall not be liable in any
        such
        case to the extent that any such loss, claim, damage or liability has been
        found
        by a court of competent jurisdiction to have been based upon any actual untrue
        statement or actual omission made or incorporated by reference in such
        registration statement, preliminary prospectus, prospectus, free writing
        prospectus or any amendment or supplement thereto solely in reliance upon
        and in
        conformity with written information furnished to the Buyer by such Seller
        Indemnitee specifically for use</font></div>
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            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR" style="LINE-HEIGHT: 11.4pt">
          <div id="GLHDR" style="WIDTH: 100%; LINE-HEIGHT: 11.4pt" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">therein.
        Such indemnity shall remain in full force and effect regardless of any
        investigation made by or on behalf of a Seller Indemnitee, and shall survive
        the
        transfer of such securities by a Seller Indemnitee.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><a name="page_ms41101_1_8">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(ii)&#160;&#160;&#160;In
        the event of any registration of any Registrable Securities under the Securities
        Act pursuant to this Agreement, the Registrable Securities Holders, by
        acceptance hereof, agrees to indemnify and hold harmless the Buyer, its
        directors and officers and each other person, if any, who controls the Buyer
        within the meaning of the Securities Act and any other person (including
        each
        underwriter) who participated in the offering of such Registrable Securities
        (collectively, the "<em>Buyer Indemnitees</em>") against any losses, claims,
        damages or liabilities, joint or several, to which the Buyer Indemnitees
        may
        become subject under the Securities Act or any other statute or at common
        law,
        insofar as such losses, claims, damages or liabilities (or actions in respect
        thereof) arise out of or are based upon: (i)&#160;any untrue statement or any
        alleged untrue statement of any material fact contained or incorporated by
        reference, on the effective date thereof, in any registration statement under
        which such securities were registered under the Securities Act, any preliminary
        prospectus or final prospectus contained therein, any free writing prospectus,
        or any amendment or supplement thereto, or (ii)&#160;any omission or any alleged
        omission to state therein a material fact required to be stated therein or
        necessary to make the statements therein not misleading, but in either case
        only
        to the extent that such untrue statement or omission is (A)&#160;made in
        reliance on and in conformity with any information furnished in writing by
        the
        Seller to the Buyer concerning the Seller specifically for inclusion in the
        registration statement, preliminary prospectus, prospectus, free writing
        prospectus or any amendment or supplement thereto relating to such offering,
        and
        (B)&#160;is not corrected by the Seller and distributed to the purchasers of
        shares within a reasonable period of time.</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(iii)&#160;&#160;If
        the indemnification provided for in this Section&#160;5 from an indemnifying
        party is unavailable to an indemnified party hereunder in respect of any
        losses,
        claims, damages, liabilities or expenses referred to therein, then the
        indemnifying party, in lieu of indemnifying such indemnified party, shall
        contribute to the amount paid or payable by such indemnified party as a result
        of such losses, claims, damages, liabilities or expenses in such proportion
        as
        is appropriate to reflect the relative fault of the indemnifying party and
        indemnified parties in connection with the actions which resulted in such
        losses, claims, damages, liabilities or expenses, as well as any other relevant
        equitable considerations. The relative fault of such indemnifying party and
        indemnified parties shall be determined by reference to, among other things,
        whether any action in question, including any untrue or alleged untrue statement
        of a material fact or omission or alleged omission to state a material fact,
        has
        been made by, or relates to information supplied by, such indemnifying party
        or
        indemnified parties, and the parties' relative intent, knowledge, access
        to
        information and opportunity to correct or prevent such action. The amount
        paid
        or payable by a party as a result of the losses, claims, damages, liabilities
        and expenses referred to above shall be deemed to include any legal or other
        fees or expenses reasonably incurred by such party in connection with any
        investigation or proceeding.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(iv)&#160;&#160;The
        parties hereto agree that it would not be just and equitable if contribution
        pursuant to Section&#160;5(f)(iii)&#160;were determined by pro rata allocation
        or by any other method of allocation which does not take account of the
        equitable considerations referred to in the immediately preceding paragraph.
        No
        person guilty of fraudulent misrepresentation (within the meaning of
        Section&#160;11 (f)&#160;of the Securities Act) shall be entitled to
        contribution from any person who was not guilty of such fraudulent
        misrepresentation.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(g)&#160;&#160;&#160;<em>Certain
        Limitations on Registration Rights</em>. Notwithstanding the other provisions of
        this Section&#160;5, the Buyer shall have the right to delay the filing or
        effectiveness of a registration statement required pursuant to Section&#160;5(b)
        hereof during one or more periods aggregating not more than one hundred and
        twenty (120)&#160;days in any twelve-month period in the event that: (i)&#160;if
        counsel to the Buyer is of the opinion that the filing of such a registration
        statement would require the disclosure of material non-public information
        about
        the Buyer, the disclosure of which the Buyer believes, in good faith, could
        have
        a material adverse effect on the business or financial condition of the Buyer
        or
        (ii)&#160;the <a name="page_ms41101_1_9">Buyer furnishes to the
        Seller or other
        holders requesting the filing of a registration statement, a certificate
        signed
        by the President or Chief Executive Officer of the Buyer stating that, in
        the
        good faith judgment of the Board of the Buyer, it would be seriously detrimental
        to the Buyer and its shareholders for such registration statement to be filed
        and it is therefore essential to defer the filing of such registration
        statement.</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(h)&#160;&#160;&#160;"<em>Market
        Stand-Off</em>" <em>Agreement</em>. The Seller (on behalf of itself and each
        Registrable Securities Holder) hereby agrees, in connection with any firm
        commitment, underwritten public offering by the Buyer of its securities,
        that it
        shall not, to the extent requested by the Buyer or an underwriter of such
        securities, sell or otherwise transfer or dispose of or engage in any other
        transaction regarding any Registrable Securities or other shares of the Buyer
        then owned by the Seller or any Registrable Securities Holder for a period
        not
        to exceed one hundred and eighty (180)&#160;days following the effective date of
        a registration statement of the Buyer filed under the Securities Act in
        connection with such firm commitment,</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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        <div id="FTR" style="LINE-HEIGHT: 11.4pt">
          <div id="GLFTR" style="WIDTH: 100%; LINE-HEIGHT: 11.4pt" align="left">
          </div>
        </div>
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          </div>
          <div style="WIDTH: 100%; LINE-HEIGHT: 11.4pt; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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          <div id="GLHDR" style="WIDTH: 100%; LINE-HEIGHT: 11.4pt" align="right">
          </div>
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      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">underwritten
        public offering by the Buyer; <em>provided</em>, <em>however</em>, that the
        foregoing shall only be applicable if all executive officers and directors
        of
        the Buyer and holders of 5% or greater of the shares of the Buyer are required
        to enter into similar agreements, it being agreed that the "lock-up" period
        for
        Seller or any Registrable Securities Holder shall not to exceed the period
        applicable to such officers and directors and shareholders and shall in no
        event
        exceed one hundred and eighty (180)&#160;days following the effective date of
        such registration statement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(i)&#160;&#160;&#160;&#160;<em>Resale
        Exemptions; Reports Under Exchange Act</em>. In order to permit the Seller to
        sell the Registrable Securities, if it so desires, pursuant to any applicable
        resale exemption under applicable securities laws and regulations, the Buyer
        will:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(i)&#160;&#160;&#160;&#160;comply
        with all rules and regulations of the Commission in connection with use of
        any
        such resale exemption;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(ii)&#160;&#160;&#160;make
        and keep available adequate and current public information regarding the
        Buyer;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(iii)&#160;&#160;file
        with the Commission in a timely manner, all reports and other documents required
        to be filed under the Securities Act, the Exchange Act, or other applicable
        securities laws and regulations;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(iv)&#160;&#160;furnish
        to the Registrable Securities Holders, upon written request, copies of annual
        reports required to be filed under the Exchange Act and other applicable
        securities laws and regulations; and</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(v)&#160;&#160;&#160;furnish
        to the Registrable Securities Holders, upon written request (A)&#160;a copy of
        the most recent quarterly report of the Buyer and such other reports and
        documents filed by the Buyer with the Commission and (ii)&#160;such other
        information as may be reasonably required to permit the Registrable Securities
        Holders to sell pursuant to any applicable resale exemption under the Securities
        Act or other applicable securities law and regulations, if any.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(j)&#160;&#160;&#160;&#160;<em>Lock-up</em>.
        The Seller (on behalf of itself and each Registrable Securities Holder) hereby
        agrees that, without the prior written consent of the Buyer, it (a)&#160;will
        not, directly or indirectly, offer, sell, agree to offer or sell, solicit
        offers
        to purchase, grant any call option or purchase any put option with respect
        to,
        pledge, borrow or otherwise dispose of any of the Registrable Securities
        representing the Stock Consideration and (b)&#160;will not establish or increase
        any "put equivalent position" or liquidate or decrease any "call equivalent
        position" with respect to any of the Registrable Securities representing
        the
        Stock Consideration (in each case within the meaning of Section&#160;16 of the
        Exchange Act), or otherwise enter into any swap, derivative or other transaction
        or arrangement that transfers to another, in whole or in part, any economic
        consequence of ownership of any of the Registrable Securities representing
        the
        Stock Consideration, whether or not such transaction is to be settled by
        delivery of Registrable Securities representing the Stock Consideration,
        other
        securities, cash or other consideration for a period of one hundred and eighty
        (180)&#160;days commencing on the date of issuance <a name="page_ms41101_1_10">of
        Registrable Securities representing the Stock Consideration; <em>provided</em>,
<em>however</em>, that, notwithstanding the foregoing, the Seller and
        the Vessel
        Owning Subsidiaries shall be permitted to transfer all or any portion of
        the
        Registrable Securities representing the Stock Consideration among themselves
        or
        to any Seller Affiliate; <em>provided</em>, <em>further</em>, that prior to any
        such transfer the transferor at its expense shall provide to the Buyer an
        opinion of counsel reasonably acceptable to the Buyer to the effect that
        that
        such transfer would not require registration under the Securities Act. The
        Seller hereby further agrees to cause each Registrable Securities Holder
        to
        enter into a lock-up agreement giving effect to the provisions of this
        Section&#160;5(j) immediately upon such Registrable Securities Holder's
        acquisition of Registrable Securities representing the Stock
        Consideration.</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(k)&#160;&#160;&#160;<em>Termination</em>.
        The rights granted under this Section&#160;5 shall expire at such time as the
        Registrable Securities Holders collectively (i)&#160;hold less than five (5%)
        percent of the outstanding Buyer Common Stock, or (ii)&#160;are eligible to sell
        their Registrable Securities without restriction under Rule&#160;144(k)
        promulgated under the Securities Act (it being agreed, for purposes of this
        Section&#160;5(k)(ii), that the Buyer, upon the request of a Registrable
        Securities Holder and at its expense, shall provide to Buyer's transfer agent
        a
        legal opinion of its counsel regarding the ability of such holder to sell
        its
        Registrable Securities under Rule&#160;144(k) and any appropriate legend removal
        instructions).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(l)&#160;&#160;&#160;&#160;<em>Legends</em>.
        The Seller hereby acknowledges and agrees that the Buyer shall legend the
        share
        certificates representing the Registrable Securities to reflect the restrictions
        on transfer contained in this Agreement and may issue to its transfer agent
        a
        stop transfer instruction in relation thereto. Such legend shall
        state:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 75pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">THE
        SHARES OF COMMON STOCK REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER
        THE
        SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY
        NOT BE
        SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt">
        <div id="FTR" style="LINE-HEIGHT: 11.4pt">
          <div id="GLFTR" style="WIDTH: 100%; LINE-HEIGHT: 11.4pt" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; LINE-HEIGHT: 11.4pt">
          <div style="WIDTH: 100%; LINE-HEIGHT: 11.4pt; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; LINE-HEIGHT: 11.4pt; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR" style="LINE-HEIGHT: 11.4pt">
          <div id="GLHDR" style="WIDTH: 100%; LINE-HEIGHT: 11.4pt" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 75pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">OTHERWISE
        DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS THE COMPANY HAS
        RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY AND ITS COUNSEL
        THAT
        SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION. THE SHARES
        REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO AN AGREEMENT BY THE REGISTERED
        HOLDER WITH THE COMPANY NOT TO SELL SUCH SHARES FOR A PERIOD OF 180 DAYS
        FOLLOWING THE DATE OF ISSUANCE OF THE SHARES.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<strong>SECTION
        6.</strong>&#160;&#160;&#160;&#160;<em>Director
        Nominees</em>.&#160;&#160;&#160;&#160;Subject to satisfactory due diligence,
        including but not limited to, completion of Directors'&#160;&amp; Officers'
        questionnaires, the Seller shall have the right to nominate and the Buyer
        and
        Star Maritime hereby agree to cause the appointment and election of two
        (2)&#160;members of the board of directors of the Buyer, it being understood and
        agreed that the initial nominees and directors (to be listed in the
        registration/proxy statement referred to in Section&#160;4(a) hereof) shall be
        Mr.&#160;Nobu Su and Mr.&#160;Peter Espig, each of whom shall serve upon the
        Effective Date of Merger for one (1)&#160;year therefrom in the case of
        Mr.&#160;Nobu Su and for two (2)&#160;years therefrom in the case of
        Mr.&#160;Peter Espig or until their successors have been duly elected and
        qualified. For so long as Mr.&#160;Nobu Su serves on the board of directors of
        the Buyer, he shall receive the title of non-executive Co-Chairman of the
        Buyer.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<strong>SECTION
        7.</strong>&#160;&#160;&#160;&#160;<em>Third Party
        Agreements</em>.&#160;&#160;&#160;&#160;The Buyer or any of its subsidiaries or
        affiliates may enter into agreements to purchase vessels and other assets
        other
        than the Vessels. This Master Agreement shall in no way restrict or prohibit
        the
        Buyer or its subsidiaries or affiliates from negotiating or completing such
        transactions. The Seller or any of its subsidiaries or affiliates may enter
        into
        agreements relating to vessels or other assets other than the Vessels; provided
        that, in no event shall the Seller or any of its subsidiaries enter into
        any
        agreements, negotiations or transactions that would <a name="page_ms41101_1_11">materially adversely
        affect the obligations of the Seller
        or any of its Vessel Owning Subsidiaries hereunder.</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<strong>SECTION
        8.</strong>&#160;&#160;&#160;&#160;<em>Representations and Warranties of the
        Seller</em>.&#160;&#160;&#160;&#160;The Seller (on behalf of itself and, with
        respect to the representations and warranties contained in subsections
        (e)&#160;through (h), each Registrable Securities Holder) hereby makes the
        following representations and warranties to the Buyer and Star
        Maritime:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;it
        is duly organized and existing under the laws of the jurisdiction of its
        organization with full power and authority to execute and deliver this Agreement
        and to perform all of the duties and obligations to be performed by it under
        this Agreement;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;this
        Agreement has been duly authorized, executed and delivered by it, and
        constitutes its valid, legal and binding obligation enforceable against it
        in
        accordance with its terms, except as enforceability may be limited by
        bankruptcy, insolvency or other similar laws of general application relating
        to
        or affecting the enforcement of creditors' rights in general or by general
        principles of equity whether considered in a proceeding at law or
        equity;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)&#160;&#160;&#160;its
        execution and delivery of, the performance and incurrence by it of its
        obligations and liabilities under, and the consummation by it of the other
        transactions contemplated by, this Agreement do not and will not
        (i)&#160;violate any provision of its organizational documents,
        (ii)&#160;violate any applicable law, rule or regulation, (iii)&#160;violate any
        order, writ, injunction or decree of any court or governmental or regulatory
        authority or agency or any arbitral award applicable to it or its affiliates
        or
        (iv)&#160;subject to the consent of applicable charterers of the Vessels, result
        in a breach of, constitute a default under, require any consent under, or
        result
        in the acceleration or required prepayment of any indebtedness pursuant to
        the
        terms of, any agreement or instrument of which it is a party or by which
        it is
        bound or to which it is subject, or result in the creation or imposition
        of any
        lien upon any property of it pursuant to the terms of any such agreement
        or
        instrument, in the case of (i), (ii), (iii)&#160;or (iv)&#160;which could have a
        material adverse effect on the transactions contemplated hereby;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(d)&#160;&#160;&#160;there
        are no legal or governmental actions, suits or proceedings pending or, to
        its
        knowledge, threatened against it before any court, administrative agency
        or
        tribunal which, if determined adversely to it, could reasonably be expected
        to
        adversely affect the ability of it to perform its obligations under this
        Agreement;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(e)&#160;&#160;&#160;it
        is an "accredited investor" within the meaning of Rule&#160;501 of
        Regulation&#160;D under the Securities Act;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(f)&#160;&#160;&#160;&#160;it
        has received or has had full access to all the information it considers
        necessary or appropriate to make an informed decision with respect to the
        acquisition of Buyer Common Stock;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(g)&#160;&#160;&#160;the
        Buyer Common Stock being acquired by it are being acquired for its own account
        for the purpose of investment and not with a view to, or for resale in
        connection with, any distribution thereof within the meaning of the Securities
        Act; and</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt">
        <div id="FTR" style="LINE-HEIGHT: 11.4pt">
          <div id="GLFTR" style="WIDTH: 100%; LINE-HEIGHT: 11.4pt" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; LINE-HEIGHT: 11.4pt">
          <div style="WIDTH: 100%; LINE-HEIGHT: 11.4pt; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; LINE-HEIGHT: 11.4pt; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR" style="LINE-HEIGHT: 11.4pt">
          <div id="GLHDR" style="WIDTH: 100%; LINE-HEIGHT: 11.4pt" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(h)&#160;&#160;&#160;it
        understands that (i)&#160;the shares of Buyer Common Stock have not been
        registered under the Securities Act by reason of their issuance in a transaction
        exempt from the registration requirements of the Securities Act, (ii)&#160;the
        shares of Buyer Common Stock must be held indefinitely (subject, however,
        to the
        Buyer's obligation to effect the registration of registrable securities in
        accordance with Section&#160;5 hereof) unless a subsequent disposition thereof
        is registered under the Securities Act or is exempt from such registration,
        and
        (iii)&#160;the shares of Buyer Common Stock will bear the legend to such effect
        set forth in Section&#160;5(1) hereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><a name="page_ms41101_1_12">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<strong>SECTION
        9.</strong>&#160;&#160;&#160;&#160;<em>Representations and Warranties of the
        Buyer</em>.&#160;&#160;&#160;&#160;The Buyer makes the following representations
        and warranties to the Seller and Star Maritime:</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;it
        is duly organized and existing under the laws of the jurisdiction of its
        organization with full power and authority to execute and deliver this Agreement
        and to perform all of the duties and obligations to be performed by it under
        this Agreement;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;this
        Agreement has been duly authorized, executed and delivered by it, and
        constitutes its valid, legal and binding obligation enforceable against it
        in
        accordance with its terms, except as enforceability may be limited by
        bankruptcy, insolvency or other similar laws of general application relating
        to
        or affecting the enforcement of creditors' rights in general or by general
        principles of equity whether considered in a proceeding at law or
        equity;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)&#160;&#160;&#160;its
        execution and delivery of, the performance and incurrence by it of its
        obligations and liabilities under, and the consummation by it of the other
        transactions contemplated by, this Agreement do not and will not
        (i)&#160;violate any provision of its organizational documents,
        (ii)&#160;violate any applicable law, rule or regulation, (iii)&#160;violate any
        order, writ, injunction or decree of any court or governmental or regulatory
        authority or agency or any arbitral award applicable to it or its affiliates
        or
        (iv)&#160;result in a breach of, constitute a default under, require any consent
        under, or result in the acceleration or required prepayment of any indebtedness
        pursuant to the terms of, any agreement or instrument of which it is a party
        or
        by which it is bound or to which it is subject, or result in the creation
        or
        imposition of any lien upon any property of it pursuant to the terms of any
        such
        agreement or instrument, in the case of (i), (ii), (iii)&#160;or (iv)&#160;which
        could have a material adverse effect on the transactions contemplated hereby;
        and</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(d)&#160;&#160;&#160;there
        are no legal or governmental actions, suits or proceedings pending or, to
        its
        actual knowledge, threatened against it before any court, administrative
        agency
        or tribunal which, if determined adversely to it, could reasonably be expected
        to adversely affect the ability of it to perform its obligations under this
        Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<strong>SECTION
        10.</strong>&#160;&#160;&#160;&#160;<em>Representations and Warranties of Star
        Maritime</em>.&#160;&#160;&#160;&#160;Star Maritime makes the following
        representations and warranties to the Seller and the Buyer:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;it
        is duly organized and existing under the laws of the jurisdiction of its
        organization with full power and authority to execute and deliver this Agreement
        and to perform all of the duties and obligations to be performed by it under
        this Agreement;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;this
        Agreement has been duly authorized, executed and delivered by it, and
        constitutes its valid, legal and binding obligation enforceable against it
        in
        accordance with its terms, except as enforceability may be limited by
        bankruptcy, insolvency or other similar laws of general application relating
        to
        or affecting the enforcement of creditors' rights in general or by general
        principles of equity whether considered in a proceeding at law or
        equity;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)&#160;&#160;&#160;its
        execution and delivery of, the performance and incurrence by it of its
        obligations and liabilities under, and the consummation by it of the other
        transactions contemplated by, this Agreement do not and will not
        (i)&#160;violate any provision of its organizational documents,
        (ii)&#160;violate any applicable law, rule or regulation, (iii)&#160;violate any
        order, writ, injunction or decree of any court or governmental or regulatory
        authority or agency or any arbitral award applicable to it or its affiliates
        or
        (iv)&#160;result in a breach of, constitute a default under, require any consent
        under, or result in the acceleration or required prepayment of any indebtedness
        pursuant to the terms of, any agreement or instrument of which it is a party
        or
        by which it is bound or to which it is subject, or result in the creation
        or
        imposition of any lien upon any property of it pursuant to the terms of any
        such
        agreement or instrument, in the case of (i), (ii), (iii)&#160;or (iv)&#160;which
        could have a material adverse effect on the transactions contemplated hereby;
        and</font></div>
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        are no legal or governmental actions, suits or proceedings pending or, to
        its
        actual knowledge, threatened against it before any court, administrative
        agency
        or tribunal which, if determined adversely to it, could reasonably be expected
        to adversely affect the ability of it to perform its obligations under this
        Agreement.</a></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<strong>SECTION
        11.</strong>&#160;&#160;&#160;&#160;<em>Conditions Precedent to the Obligations
        of the Seller</em>.&#160;&#160;&#160;&#160;The obligation of the Seller and the
        Vessel Owning Subsidiaries to sell and deliver the Vessels to the Buyer is
        subject to the satisfaction or waiver of the following conditions, which
        conditions are intended wholly for the benefit of the Seller and the applicable
        Vessel Owning Subsidiary (with respect to each Vessel):</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;<em>Due
        Authorization, Execution and Delivery</em>.&#160;&#160;&#160;&#160;This
        Agreement shall have been duly authorized, executed and delivered by the
        Buyer
        and Star Maritime, shall be in full force and effect and executed counterparts
        thereof shall have been delivered to the Seller;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;<em>Representations
        and Warranties</em>.&#160;&#160;&#160;&#160;The representations and warranties
        of the Buyer and Star Maritime contained in this Agreement shall be true
        and
        correct;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)<em>&#160;&#160;&#160;&#160;Illegality.</em>&#160;&#160;&#160;&#160;The
        performance of the transactions contemplated hereby upon the terms and subject
        to the conditions set forth in this Agreement shall not, in the reasonable
        judgment of the Seller, violate, and shall not subject the Seller, any Vessel
        Owning Subsidiary or any Seller Affiliate to any material penalty or liability
        under, any law, rule or regulation binding upon any of them;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(d)<em>&#160;&#160;&#160;&#160;No
        Proceedings.</em>&#160;&#160;&#160;&#160;No legal or governmental action, suit
        or proceeding shall have been instituted or threatened before any court,
        administrative agency or tribunal, nor shall any order, judgment or decree
        have
        been issued or proposed to be issued by any court, administrative agency
        or
        tribunal, to set aside, restrain, enjoin or prevent the consummation of this
        Agreement or the transactions contemplated hereby.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(e)<em>&#160;&#160;&#160;&#160;Performance
        of Obligations.</em>&#160;&#160;&#160;&#160;Star Maritime, the Buyer and Buyer's
        Vessel purchasing nominees shall have performed all obligations required
        of them
        under this Agreement, the Supplemental Agreement and the MOAs in all material
        respects.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;SECTION
        12.</strong>&#160;&#160;&#160;&#160;<em>Conditions Precedent to the Obligations
        of the Buyer</em>.&#160;&#160;&#160;&#160;The obligation of the Buyer to
        purchase the Vessels from the Seller or the Vessel Owning Subsidiaries is
        subject to the satisfaction or waiver of the following conditions, which
        conditions are intended wholly for the benefit of the Buyer:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)<em>&#160;&#160;&#160;&#160;Due
        Authorization. Execution and Delivery.</em>&#160;&#160;&#160;&#160;This
        Agreement shall have been duly authorized, executed and delivered by the
        Seller,
        shall be in full force and effect and executed counterparts thereof shall
        have
        been delivered to the Buyer;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)<em>&#160;&#160;&#160;&#160;Representations
        and Warranties.</em>&#160;&#160;&#160;&#160;The representations and warranties
        of the Seller contained in this Agreement shall be true and
        correct;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)<em>&#160;&#160;&#160;&#160;Illegality.</em>&#160;&#160;&#160;&#160;The
        performance of the transactions contemplated hereby upon the terms and subject
        to the conditions set forth in this Agreement shall not, in the reasonable
        judgment of the Buyer, violate, and shall not subject the Buyer to any material
        penalty or liability under, any law, rule or regulation binding upon the
        Buyer;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(d)<em>&#160;&#160;&#160;&#160;No
        Proceedings.</em>&#160;&#160;&#160;&#160;No legal or governmental action, suit
        or proceeding shall have been instituted or threatened before any court,
        administrative agency or tribunal, nor shall any order, judgment or decree
        have
        been issued or proposed to be issued by any court, administrative agency
        or
        tribunal, to set aside, restrain, enjoin or prevent the consummation of this
        Agreement or the transactions contemplated hereby.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(e)<em>&#160;&#160;&#160;&#160;Performance
        of Obligations.</em>&#160;&#160;&#160;&#160;The Seller and each Vessel Owning
        Subsidiary shall have performed all obligations required of them under this
        Agreement, the Supplemental Agreement and the MOAs in all material
        respects.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><a name="page_mu41101_1_14"><strong>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;SECTION
        13.</strong>&#160;&#160;&#160;&#160;<em>Further Assurances and Other
        Matters</em>.&#160;&#160;&#160;&#160;Each of the Seller, the Buyer and Star
        Maritime agrees, upon the request of the other party, at any time and from
        time
        to time, promptly to execute and deliver all such further documents, promptly
        to
        take and forbear from all such action, and obtain all approvals, consents,
        exemptions or authorizations from such governmental agencies or authorities
        as
        may be necessary or reasonably appropriate in order to effect the Merger and
        more effectively confirm or carry out the provisions of this Agreement and
        the
        other documents entered into in connection herewith.</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;SECTION
        14.</strong>&#160;&#160;&#160;&#160;<em>Term and
        Termination</em>.&#160;&#160;&#160;&#160;This Agreement shall terminate and be
        of no further force and effect: (i)&#160;upon satisfaction or waiver of all
        obligations of all parties arising under this Agreement, the Supplemental
        Agreement and the MOAs or (ii)&#160;in the event that the stockholders of Star
        Maritime do not approve the Merger or the sale and purchase of the Vessels
        as
        contemplated by this Agreement, the Supplemental Agreement and the MOAs,
        provided, however that</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt">
        <div id="FTR" style="LINE-HEIGHT: 11.4pt">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">Sections
        6, 7 and 15 hereof shall survive the termination of this Agreement and remain
        in
        full force and effect if such termination is as a result of satisfaction
        or
        waiver of all obligations of all parties arising under the MOAs.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;SECTION
        15.</strong>&#160;&#160;&#160;&#160;<em>Miscellaneous</em>.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)<em>&#160;&#160;&#160;&#160;Termination
        of Memorandum of Understanding.</em>&#160;&#160;&#160;&#160;The Memorandum of
        Understanding is hereby terminated and of no force and effect.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)<em>&#160;&#160;&#160;&#160;Notices.</em>&#160;&#160;&#160;&#160;All
        notices provided hereunder shall be given in writing and either delivered
        personally or by overnight courier service or sent by certified mail, return
        receipt requested, or by facsimile transmission,</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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            <tr>
              <td align="left" colspan="5" valign="top" width="59%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">if
                  to the Buyer, to:</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="4%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" colspan="3" valign="top" width="53%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Star
                  Bulk Carriers Corp.</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">c/o
                  Seward&#160;&amp; Kissel LLP</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">One
                  Battery Park Plaza</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">New
                  York, NY 10004</font></div>
              </td>
            </tr>
            <tr style="LINE-HEIGHT: 11.4pt;">
              <td align="left" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Attention:</font></div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="45%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Derick
                  Betts, Esq.</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Robert
                  E. Lustrin, Esq.</font></div>
              </td>
            </tr>
            <tr style="LINE-HEIGHT: 11.4pt;">
              <td align="left" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Fax
                  No:</font></div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="45%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">+1(212)&#160;480-8421</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" colspan="5" valign="top" width="59%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">if
                  to Star Maritime, to:</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="4%">
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" colspan="3" valign="top" width="53%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Star
                  Bulk Carriers Corp.</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">c/o
                  Seward&#160;&amp; Kissel LLP</font></div>
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                  Battery Park Plaza</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">New
                  York, NY 10004</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Attention:</font></div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="45%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Derick
                  Betts, Esq.</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Robert
                  E. Lustrin, Esq.</font></div>
              </td>
            </tr>
            <tr style="LINE-HEIGHT: 11.4pt;">
              <td align="left" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Fax
                  No:</font></div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="45%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">+1
                  (212)&#160;480-8421</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" colspan="5" valign="top" width="59%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">if
                  to the Seller to:</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="4%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" colspan="3" valign="top" width="53%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">TMT
                  Co.,&#160;Ltd.</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">12
                  Floor 167 FU HSN NORTH ROAD</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Taipei
                  105</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Taiwan,
                  Republic of China</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Attention:
                  Corporate Secretary</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Telephone:
                  011 866 2 221750229</font></div>
              </td>
            </tr>
            <tr style="LINE-HEIGHT: 11.4pt;">
              <td align="left" valign="top" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="45%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" colspan="5" valign="top" width="59%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><a name="page_mu41101_1_15"/>&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">with
                  a copy (which shall not constitute notice) to:</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="4%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" colspan="3" valign="top" width="53%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Ellenoff
                  Grossman&#160;&amp; Schole LLP</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">370
                  Lexington Avenue</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">New
                  York, NY 10017</font></div>
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                  Douglas S. Ellenoff, Esq.</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">Fax
                  No.: (212)&#160;370-7889</font></div>
              </td>
            </tr>

        </table>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">or
        to such other address as the parties shall from time to time designate in
        writing. Any notice delivered personally or by fax shall be deemed given
        upon
        receipt (with confirmation of receipt required in the case of fax
        transmissions); any notice given by overnight courier shall be deemed given
        on
        the next business day after delivery to the overnight courier; and any notice
        given by certified mail shall be deemed given upon the second business day
        after
        certification thereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)<em>&#160;&#160;&#160;&#160;Governing
        Law.</em>&#160;&#160;&#160;&#160;This Agreement shall be governed by and
        construed under the laws of the State of New York without regard to conflicts
        of
        laws principles. Any action or proceeding (other than with respect to disputes
        under the MOAs and the Supplemental Agreement, which shall be subject to
        the
        dispute resolution provisions thereof) seeking to enforce any provision of,
        or
        based on any right arising out of, this Agreement shall be brought against
        the
        parties hereto or thereto in the courts of the State of New York, County
        of New
        York, or, if it has or can acquire jurisdiction, in the United States District
        Court for the Southern District of New York, and each of the parties consents
        to
        the exclusive jurisdiction of</font></div>
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      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt">
        <div id="FTR" style="LINE-HEIGHT: 11.4pt">
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          <div style="WIDTH: 100%; LINE-HEIGHT: 11.4pt; TEXT-ALIGN: center">
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            <hr style="COLOR: black" noshade size="2">
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          <div id="GLHDR" style="WIDTH: 100%; LINE-HEIGHT: 11.4pt" align="right">
          </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">such
        courts (and of the appropriate appellate courts) in any such action or
        proceeding and waives any objection to venue laid therein. The parties hereby
        expressly waive all rights to trial by jury in any suit, action or proceeding
        arising under this Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(d)<em>&#160;&#160;&#160;&#160;Survival
        of Representations and Warranties.</em>&#160;&#160;&#160;&#160;All
        representations and warranties contained herein shall survive any termination
        of
        this Agreement for a period of two (2)&#160;years.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(e)<em>&#160;&#160;&#160;&#160;Headings.</em>&#160;&#160;&#160;&#160;Headings
        used herein are for convenience only and shall not in any way affect the
        construction of, or be taken into consideration in interpreting, this
        Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(f)<em>&#160;&#160;&#160;&#160;Severabilitv.</em>&#160;&#160;&#160;&#160;Any
        provision of this Agreement which is prohibited or unenforceable in any
        jurisdiction shall, as to such jurisdiction, be ineffective to the extent
        of
        such prohibition or unenforceability without invalidating the remaining
        provisions hereof or affecting the validity or enforceability of such provision
        in any other jurisdiction.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(g)<em>&#160;&#160;&#160;&#160;Amendments
        in Writing.</em>&#160;&#160;&#160;&#160;No amendment, modification, waiver,
        termination or discharge of any provision of this Agreement, or any consent
        to
        any departure by each of the Seller, the Buyer or Star Maritime from any
        provision hereof, shall in any event be effective unless the same shall be
        in
        writing and signed by the parties hereto, and each such amendment, modification,
        waiver, termination or discharge shall be effective only in the specific
        instance and for the specific purpose for which given. No provision of this
        Agreement shall be varied, contradicted or explained by any oral agreement,
        course of dealing or performance or any other matter not set forth in an
        agreement in writing and signed by the parties hereto.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(h)<em>&#160;&#160;&#160;&#160;Expenses.</em>&#160;&#160;&#160;&#160;Each
        party shall be responsible for its own expenses in connection with the
        preparation, negotiation, execution and delivery of the MOAs, the Supplemental
        Agreement and this Agreement; provided, however, that regardless of whether
        this
        Agreement or the transactions contemplated hereby are terminated, Star Maritime
        shall pay for or reimburse the Seller for all reasonable fees and expenses
        of
        its legal counsel in connection with the preparation, negotiation, execution
        and
        delivery of the MOAs, the Supplemental Agreement and this Agreement up to
        $25,000. The Buyer shall also be responsible for all the reasonable expenses
        of
        the Seller in connection with soliciting the stockholders vote in favor of,
        and
        the approval of, the Merger and transactions contemplated in this Agreement,
        the
        MOAs and the Supplemental Agreement, including all "road <a name="page_mu41101_1_16">show," travel and lodging
        expenses, all reasonable fees
        and expenses of legal counsel, accountants and other advisors and consultants
        of
        the Seller.</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(i)<em>&#160;&#160;&#160;&#160;Execution
        in Counterparts.</em>&#160;&#160;&#160;&#160;This Agreement and any amendment,
        waiver or consent hereto may be executed by the parties hereto in separate
        counterparts (or upon separate signature pages bound together into one or
        more
        counterparts), each of which, when so executed and delivered, shall be an
        original, but all such counterparts shall together constitute one and the
        same
        instrument. All such counterparts may be delivered among the parties hereto
        by
        facsimile or other electronic transmission, which shall not affect the validity
        thereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(j)<em>&#160;&#160;&#160;&#160;Entire
        Agreement.</em>&#160;&#160;&#160;&#160;This Agreement and the other documents
        referred to herein or therein, on and as of the date hereof, constitute the
        entire agreement of the parties hereto with respect to the subject matter
        hereof
        or thereof, and all prior or contemporaneous understandings or agreements,
        whether written or oral between the parties hereto with respect to such subject
        matter (including, without limitation, the Memorandum of Understanding) are
        hereby superseded in their entirety.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(k)<em>&#160;&#160;&#160;&#160;Exhibits
        and Schedules.</em>&#160;&#160;&#160;&#160;The exhibits attached hereto or any
        schedules referenced in this Agreement are incorporated by reference herein
        and
        shall have the same force and effect with respect to the provisions set forth
        therein as though fully set forth in this Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(l)<em>&#160;&#160;&#160;&#160;Successors
        and Assigns.</em>&#160;&#160;&#160;&#160;This Agreement shall be binding upon,
        shall inure to the benefit of and shall be enforceable by the parties hereto
        and
        their respective successors and assigns; provided, that, except for permitted
        transferees of Registrable Securities, who shall be entitled to the benefits
        of
        Section&#160;5 hereof, none of the Buyer, the Seller or Star Maritime may assign
        any of its obligations hereunder without the prior written consent of the
        other
        party.</font></div>
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              </td>
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              </td>
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                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="4%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">By:</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
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                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">STAR
                  MARITIME ACQUISITION CORP.</font></div>
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                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="4%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
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              </td>
            </tr>

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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="center"><a name="page_na41101_1_20"/><a name="na41101_amendment_to_master_agreement"/><a name="toc_na41101_1"><br></a></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong>AMENDMENT
        TO MASTER AGREEMENT</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;TMT
        CO.,&#160;LTD., a Taiwan corporation (the "<em>Seller</em>"), STAR BULK CARRIERS
        CORP., a Marshall Islands corporation (the "<em>Buyer</em>"), and STAR MARITIME
        ACQUISITION CORP., a Delaware corporation ("<em>Star Maritime</em>"), hereby
        amend the MASTER AGREEMENT dated as of January&#160;12, 2007 (the "<em>Master
        Agreement</em>") by and among the Seller, the Buyer and Star Maritime, as
        follows:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.&#160;&#160;&#160;&#160;&#160;The
        definition of the term "Forecasted Annual Consolidated Revenue" contained
        in
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        as follows:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">"Forecasted
        Annual Consolidated Revenue" shall mean: (a)&#160;for purposes of
        Section&#160;2(b)(1) of this Agreement (i)&#160;if the Effective Date of Merger
        occurs on or prior to June&#160;30, 2007, an amount equal to $40&#160;million,
        or (ii)&#160;if the Effective Date of Merger occurs after June&#160;30, 2007, an
        amount equal to the product of (A)&#160;$40&#160;million and (B)&#160;the ratio,
        expressed as a percentage, of the number of days from the Effective Date
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2.&#160;&#160;&#160;&#160;&#160;All
        capitalized terms used herein shall have the meanings assigned to them in
        the
        Master Agreement, unless defined herein or the context otherwise requires.
        To
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        amendment shall govern. Except as amended hereby, all of the provisions of
        the
        Master Agreement shall remain and continue in full force and
        effect.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><a name="page_na41101_1_21">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;IN
        WITNESS WHEREOF, the parties hereto have caused this Amendment to Master
        Agreement to be executed as of February&#160;28, 2007.</a></font></div>
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        <table cellpadding="0" cellspacing="0" width="100%">

            <tr style="LINE-HEIGHT: 11.4pt;">
              <td align="left" valign="top" width="32%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" colspan="2" valign="top" width="48%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;"><strong>TMT
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              <td align="left" valign="top" width="32%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="45%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">for
                  itself individually and for/on behalf of each of the Vessel Owning
                  Subsidiaries and the Registrable Security Holders</font></div>
              </td>
            </tr>
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              <td align="left" valign="top" width="32%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">By:</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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              </td>
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                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="center"><a name="page_na41101_1_22"/><a name="na41101_amendment_no._2_to_master_agreem"/><a name="toc_na41101_2"><br></a></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><strong><u>AMENDMENT
        NO. 2 TO MASTER AGREEMENT</u></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Reference
        is made to the MASTER AGREEMENT dated as of January&#160;12, 2007 (the "Master
        Agreement") by and among TMT CO.,&#160;LTD., a Taiwan corporation (the
        "Seller"), STAR BULK CARRIERS CORP., a Marshall Islands corporation (the
        "Buyer"), and STAR MARITIME ACQUISITION CORP., a Delaware corporation ("Star
        Maritime") as amended by the AMENDMENT to the MASTER AGREEMENT dated as of
        February&#160;14, 2007.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
        parties wish to further amend the MASTER AGREEMENT as follows:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">1.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">Section&#160;2(b)
        is hereby deleted in its entirety and amended to read as follows:</font></div>
      <div style="LINE-HEIGHT: 11.4pt"><br></div>
      <div style="LINE-HEIGHT: 11.4pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">(b)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">In
        addition to the Aggregate Purchase Price:</font></div>
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      <div style="LINE-HEIGHT: 11.4pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">(1)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">Seller
        shall be entitled to receive, promptly following the Buyer's filing of its
        Annual Report on Form&#160;20-F for the Buyer's fiscal year ended
        December&#160;31, 2007, an additional 803,481 shares of Buyer Common Stock
        (which shall be issued no later than ten (10)&#160;business days following the
        filing of such Annual Report to the Seller, the Vessel Owning Subsidiaries
        and/or a Seller Affiliate, as directed by the Seller); plus</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">(2)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">With
        respect to the first full fiscal year of the Buyer following the Merger
        commencing on January&#160;1, 2008 and ending on December&#160;31, 2008, the
        Seller shall be entitled to receive, promptly following the Buyer's filing
        of
        its Annual Report on Form&#160;20-F for such fiscal year, an additional 803,481
        shares of Buyer Common Stock (which shall be issued no later than ten
        (10)&#160;business days following the filing of such Annual Report to the
        Seller, the Vessel Owning Subsidiaries or a Seller Affiliate, as directed
        by the
        Seller).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">2.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;">All
        capitalized terms used herein shall have the meanings assigned to them in
        the
        Master Agreement, unless defined herein or the context otherwise requires.
        To
        the extent that this amendment conflicts with the Master Agreement, this
        amendment shall govern. Except as amended hereby, all of the provisions of
        the
        Master Agreement shall remain and continue in full force and
        effect.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif;"><a name="page_na41101_1_23">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;IN
        WITNESS WHEREOF, the parties hereto have caused this Amendment to Master
        Agreement to be executed as of October&#160;3, 2007.</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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            <tr style="LINE-HEIGHT: 11.4pt;">
              <td align="left" valign="top" width="32%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" colspan="2" valign="top" width="48%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;"><strong>TMT
                  CO., LTD.</strong></font></div>
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              <td align="left" valign="top" width="32%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="45%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">for
                  itself individually and for/on behalf of each of the Vessel Owning
                  Subsidiaries and the Registrable Security Holders</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="32%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;">By:</font></div>
              </td>
              <td align="left" valign="top" width="45%">
                <div style="LINE-HEIGHT: 11.4pt">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif;"><u>/s/&#160;&#160;NOBU
                  SU</u>&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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