<SEC-DOCUMENT>0000902664-16-008353.txt : 20161011
<SEC-HEADER>0000902664-16-008353.hdr.sgml : 20161011
<ACCEPTANCE-DATETIME>20161011170936
ACCESSION NUMBER:		0000902664-16-008353
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20161011
DATE AS OF CHANGE:		20161011
GROUP MEMBERS:		CCP II CAYMAN GP LTD.
GROUP MEMBERS:		CENTERBRIDGE ASSOCIATES II (CAYMAN), L.P.
GROUP MEMBERS:		CENTERBRIDGE CAPITAL PARTNERS II (CAYMAN), L.P.
GROUP MEMBERS:		CENTERBRIDGE CAPITAL PARTNERS SBS II (CAYMAN), L.P.
GROUP MEMBERS:		CENTERBRIDGE CREDIT CAYMAN GP LTD.
GROUP MEMBERS:		CENTERBRIDGE CREDIT PARTNERS GENERAL PARTNER, L.P.
GROUP MEMBERS:		CENTERBRIDGE CREDIT PARTNERS MASTER, L.P.
GROUP MEMBERS:		CENTERBRIDGE CREDIT PARTNERS OFFSHORE GENERAL PARTNER, L.P.
GROUP MEMBERS:		CENTERBRIDGE SPECIAL CREDIT PARTNERS GENERAL PARTNER II (CAY
GROUP MEMBERS:		CENTERBRIDGE SPECIAL CREDIT PARTNERS GENERAL PARTNER II, L.P
GROUP MEMBERS:		CENTERBRIDGE SPECIAL CREDIT PARTNERS II AIV IV (CAYMAN), L.P
GROUP MEMBERS:		CENTERBRIDGE SPECIAL CREDIT PARTNERS II, L.P.
GROUP MEMBERS:		CSCP II CAYMAN GP LTD.
GROUP MEMBERS:		JEFFREY H. ARONSON
GROUP MEMBERS:		MARK T. GALLOGLY

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GENCO SHIPPING & TRADING LTD
		CENTRAL INDEX KEY:			0001326200
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-81128
		FILM NUMBER:		161931743

	BUSINESS ADDRESS:	
		STREET 1:		299 PARK AVENUE
		STREET 2:		12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10171
		BUSINESS PHONE:		(646) 443-8550

	MAIL ADDRESS:	
		STREET 1:		299 PARK AVENUE
		STREET 2:		12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10171

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Centerbridge Credit Partners, L.P.
		CENTRAL INDEX KEY:			0001422713
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		375 PARK AVENUE
		STREET 2:		12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10152
		BUSINESS PHONE:		212-672-5080

	MAIL ADDRESS:	
		STREET 1:		375 PARK AVENUE
		STREET 2:		12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10152

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CENTERBRIDGE CREDIT PARTNERS LP
		DATE OF NAME CHANGE:	20080103
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>p16-1926sc13da.htm
<DESCRIPTION>GENCO SHIPPING ? TRADING LIMITED
<TEXT>
<HTML>
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<TITLE></TITLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 99%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif; text-align: center">SECURITIES AND EXCHANGE COMMISSION</TD>
    <TD STYLE="width: 1%; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Washington, D.C. 20549</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">SCHEDULE 13D/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Under the Securities Exchange Act of 1934</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Amendment No. 6)*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.75pt solid">Genco Shipping
        &amp; Trading Limited</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Name of Issuer)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.75pt solid">Common Stock,
        $0.01 Par Value</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Title of Class of Securities)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.75pt solid">Y2685T115</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(CUSIP Number)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Susanne V. Clark</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">c/o Centerbridge
        Partners, L.P.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">375 Park Avenue</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">New York, NY 10152</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(212) 672-5000</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Name, Address and Telephone Number of Person</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Authorized to Receive Notices and Communications)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.75pt solid">October 6,
        2016</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Date of Event Which Requires Filing of This Statement)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">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 Rule 13d-1(e), Rule
13d-1(f) or Rule 13d-1(g), check the following box. <FONT STYLE="font-family: Wingdings; font-size: 12pt">&uml; </FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">(Page 1 of 24 Pages)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">______________________________</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">* The remainder of this cover page shall be filled out for a reporting
person&#8217;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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">The information required on the remainder of this cover page shall
not be deemed to be &#8220;filed&#8221; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&#8220;Act&#8221;)
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).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Centerbridge Credit Partners, L.P.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings">x</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Delaware</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">1,249,395 (including &nbsp;928,932 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">1,249,395 (including &nbsp;928,932 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">1,249,395 (including &nbsp;928,932 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">4.96%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">PN</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><B>CUSIP No. Y2685T115</B></TD><TD STYLE="width: 34%; text-align: center"><B>SCHEDULE 13D/A</B></TD><TD STYLE="width: 33%; text-align: right"><B>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --> of 24 Pages</B></TD></TR></TABLE>&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Centerbridge Credit Partners General Partner, L.P.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings"><B>x</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Delaware</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">1,249,396 (including &nbsp;928,932 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">1,249,396 (including &nbsp;928,932 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">1,249,396 (including &nbsp;928,932 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">4.96%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">PN</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><B>CUSIP No. Y2685T115</B></TD><TD STYLE="width: 34%; text-align: center"><B>SCHEDULE 13D/A</B></TD><TD STYLE="width: 33%; text-align: right"><B>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --> of 24 Pages</B></TD></TR></TABLE>&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Centerbridge Credit Cayman GP Ltd.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings"><B>x</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Cayman Islands</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">3,517,880 (including &nbsp;2,615,562 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">3,517,880 (including &nbsp;2,615,562 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">3,517,880 (including &nbsp;2,615,562 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">13.98%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">CO</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 58%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><B>CUSIP No. Y2685T115</B></TD><TD STYLE="width: 34%; text-align: center"><B>SCHEDULE 13D/A</B></TD><TD STYLE="width: 33%; text-align: right"><B>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --> of 24 Pages</B></TD></TR></TABLE>&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Centerbridge Credit Partners Master, L.P.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings"><B>x</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Cayman Islands</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">2,268,484 (including &nbsp;1,686,630 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">2,268,484 (including &nbsp;1,686,630 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">2,268,484 (including &nbsp;1,686,630 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">9.01%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">PN</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><B>CUSIP No. Y2685T115</B></TD><TD STYLE="width: 34%; text-align: center"><B>SCHEDULE 13D/A</B></TD><TD STYLE="width: 33%; text-align: right"><B>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --> of 24 Pages</B></TD></TR></TABLE>&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Centerbridge Credit Partners Offshore General Partner,
        L.P.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings"><B>x</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Delaware</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">2,268,484 (including &nbsp;1,686,630 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">2,268,484 (including &nbsp;1,686,630 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">2,268,484 (including &nbsp;1,686,630 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">9.01%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">PN</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><B>CUSIP No. Y2685T115</B></TD><TD STYLE="width: 34%; text-align: center"><B>SCHEDULE 13D/A</B></TD><TD STYLE="width: 33%; text-align: right"><B>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --> of 24 Pages</B></TD></TR></TABLE>&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Centerbridge Capital Partners II (Cayman), L.P.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings"><B>x</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Cayman Islands</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">4,101,762 (including &nbsp;3,049,682 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock convertible into Common Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">4,101,762 (including &nbsp;3,049,682 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">4,101,762 (including &nbsp;3,049,682 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">16.30%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">PN</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><B>CUSIP No. Y2685T115</B></TD><TD STYLE="width: 34%; text-align: center"><B>SCHEDULE 13D/A</B></TD><TD STYLE="width: 33%; text-align: right"><B>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --> of 24 Pages</B></TD></TR></TABLE>&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Centerbridge Capital Partners SBS II (Cayman), L.P.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings"><B>x</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Cayman Islands</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">30,020 (including &nbsp;22,320 shares of Common Stock
        issuable upon conversion of shares of Series A Preferred Stock convertible into Common Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">30,020 (including &nbsp;22,320 shares of Common Stock
        issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">30,020 (including &nbsp;22,320 shares of Common Stock
        issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">0.12%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">PN</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><B>CUSIP No. Y2685T115</B></TD><TD STYLE="width: 34%; text-align: center"><B>SCHEDULE 13D/A</B></TD><TD STYLE="width: 33%; text-align: right"><B>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --> of 24 Pages</B></TD></TR></TABLE>&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Centerbridge Associates II (Cayman), L.P.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings"><B>x</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Cayman Islands</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">4,101,762 (including &nbsp;3,049,682 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">4,101,762 (including &nbsp;3,049,682 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">4,101,762 (including &nbsp;3,049,682 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">16.30%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">PN</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><B>CUSIP No. Y2685T115</B></TD><TD STYLE="width: 34%; text-align: center"><B>SCHEDULE 13D/A</B></TD><TD STYLE="width: 33%; text-align: right"><B>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --> of 24 Pages</B></TD></TR></TABLE>&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">CCP II Cayman GP Ltd.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings"><B>x</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Cayman Islands</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">4,131,782 (including &nbsp;3,072,002 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">4,131,782 (including &nbsp;3,072,002 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">4,131,782 (including &nbsp;3,072,002 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">16.42%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">CO</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><B>CUSIP No. Y2685T115</B></TD><TD STYLE="width: 34%; text-align: center"><B>SCHEDULE 13D/A</B></TD><TD STYLE="width: 33%; text-align: right"><B>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --> of 24 Pages</B></TD></TR></TABLE>&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Centerbridge Special Credit Partners II AIV IV (Cayman),
        L.P.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings"><B>x</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Cayman Islands</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">1,017,893 (including &nbsp;756,809 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">1,017,893 (including &nbsp;756,809 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">1,017,893 (including &nbsp;756,809 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">4.04%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">PN</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><B>CUSIP No. Y2685T115</B></TD><TD STYLE="width: 34%; text-align: center"><B>SCHEDULE 13D/A</B></TD><TD STYLE="width: 33%; text-align: right"><B>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --> of 24 Pages</B></TD></TR></TABLE>&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Centerbridge Special Credit Partners General Partner
        II (Cayman), L.P.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings"><B>x</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Cayman Islands</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">1,017,893 (including &nbsp;756,809 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">1,017,893 (including &nbsp;756,809 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">1,017,893 (including &nbsp;756,809 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">4.04%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">PN</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><B>CUSIP No. Y2685T115</B></TD><TD STYLE="width: 34%; text-align: center"><B>SCHEDULE 13D/A</B></TD><TD STYLE="width: 33%; text-align: right"><B>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --> of 24 Pages</B></TD></TR></TABLE>&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Centerbridge Special Credit Partners II, L.P.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings"><B>x</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Delaware</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">206,542 (including &nbsp;153,565 shares of Common Stock
        issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">206,542 (including &nbsp;153,565 shares of Common Stock
        issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">206,542 (including &nbsp;153,565 shares of Common Stock
        issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">0.82%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">PN</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><BR CLEAR="ALL">
</P>


<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><B>CUSIP No. Y2685T115</B></TD><TD STYLE="width: 34%; text-align: center"><B>SCHEDULE 13D/A</B></TD><TD STYLE="width: 33%; text-align: right"><B>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --> of 24 Pages</B></TD></TR></TABLE>&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Centerbridge Special Credit Partners General Partner
        II, L.P.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings"><B>x</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Delaware</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">206,542 (including &nbsp;153,565 shares of Common Stock
        issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">206,542 (including &nbsp;153,565 shares of Common Stock
        issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">206,542 (including &nbsp;153,565 shares of Common Stock
        issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">0.82%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">PN</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><B>CUSIP No. Y2685T115</B></TD><TD STYLE="width: 34%; text-align: center"><B>SCHEDULE 13D/A</B></TD><TD STYLE="width: 33%; text-align: right"><B>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --> of 24 Pages</B></TD></TR></TABLE>&nbsp;</DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><BR CLEAR="ALL">
</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">CSCP II Cayman GP Ltd.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings"><B>x</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Cayman Islands</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">1,224,435 (including &nbsp;910,374 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">1,224,435 (including &nbsp;910,374 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">1,224,435 (including &nbsp;910,374 shares of Common
        Stock issuable upon conversion of shares of Series A Preferred Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">4.86%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">CO</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><B>CUSIP No. Y2685T115</B></TD><TD STYLE="width: 34%; text-align: center"><B>SCHEDULE 13D/A</B></TD><TD STYLE="width: 33%; text-align: right"><B>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --> of 24 Pages</B></TD></TR></TABLE>&nbsp;</DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Mark T. Gallogly</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings"><B>x</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">United States</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">8,874,097 (including 6,597,938 shares of Series A Preferred
        Stock convertible into Common Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">8,874,097 (including&nbsp;6,597,938 shares of Series
        A Preferred Stock convertible into Common Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">8,874,097 (including&nbsp;6,597,938 shares of Series
        A Preferred Stock convertible into Common Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">35.26%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">IN</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt">NAME OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">Jeffrey H. Aronson</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a) <FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b) <FONT STYLE="font-family: Wingdings"><B>x</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">SEC USE ONLY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt"><FONT STYLE="font-size: 9pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">United States</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 10pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 10pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 10pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 10pt">EACH</FONT><BR>
<FONT STYLE="font-size: 10pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 10pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">8,874,097 (including&nbsp;6,597,938 shares of Series
        A Preferred Stock convertible into Common Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">-0-</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">8,874,097 (including 6,597,938 shares of Series A Preferred
        Stock convertible into Common Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">8,874,097 (including 6,597,938 shares of Series A Preferred
        Stock convertible into Common Stock)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">35.26%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3.8pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in">IN</P></TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This Amendment No. 6 (&#8220;<U>Amendment No.
6</U>&#8221;) amends and supplements the statement on Schedule 13D (the &#8220;<U>Original Schedule 13D</U>&#8221;) filed with
the Securities and Exchange Commission (the &#8220;<U>SEC</U>&#8221;) on July 21, 2014, as amended by Amendment No. 1 (&#8220;<U>Amendment
No. 1</U>&#8221;) filed with the SEC on July 23, 2015, Amendment No. 2 (&#8220;<U>Amendment No. 2</U>&#8221;) filed with the SEC
on September 17, 2015, Amendment No. 3 (&#8220;<U>Amendment No.3</U>&#8221;) filed with the SEC on May 11, 2016, Amendment No.4
(&#8220;<U>Amendment No. 4</U>&#8221;) filed with the SEC on June 10, 2016, and Amendment No. 5 (&#8220;<U>Amendment No. 5</U>&#8221;)
filed with the SEC on July 1, 2016 (the Original Schedule 13D as amended by Amendment No. 1, Amendment No. 2, Amendment No. 3,
Amendment No. 4, Amendment No. 5, and this Amendment No. 6, the &#8220;<U>Schedule 13D</U>&#8221;), with respect to the shares
of common stock, par value $0.01 per share (the &#8220;<U>Common Stock</U>&#8221;) and the Series A Convertible Preferred Stock,
par value $0.01 per share (the &#8220;<U>Series A Preferred Stock</U>&#8221;), of Genco Shipping &amp; Trading Limited, a corporation
organized under the laws of the Republic of the Marshall Islands (the &#8220;<U>Issuer</U>&#8221;). This Amendment No. 5 amends
Items 3, 4, 5, 6 and 7 as set forth below.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif"><B>Item 3.</B></TD>
    <TD STYLE="width: 89%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif"><B>SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Item 3 of the Schedule 13D is hereby amended and supplemented by the addition of the following:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">The Reporting Persons acquired the 6,597,938 <FONT STYLE="letter-spacing: -0.1pt">shares of Series A Preferred Stock </FONT>reported in this Schedule 13D pursuant to the Stock Purchase Agreement (as defined in Item 4), which convert into 6,597,938 shares of Common Stock, for an aggregate purchase price of $31,999,999.30, which were derived from the working capital of CCP, CCPM, CSCP II, CSCP Cayman, CCP II Cayman and CCP SBS II Cayman.</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif"><B>Item 4.</B></TD>
    <TD STYLE="width: 89%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif"><B>PURPOSE OF TRANSACTION</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Item 4 of the Schedule 13D is hereby amended and supplemented by the addition of the following:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">As
    described in the Issuer&#8217;s Form 8-K filed October 6, 2016 (the &#8220;<U>Form 8-K</U>&#8221;), on October 6, 2016,
    certain funds managed by and affiliated with Centerbridge Partners, L.P. (collectively, &#8220;<U>Centerbridge</U>&#8221;)
    entered into a Stock Purchase Agreement with the Issuer effective as of October 4, 2016 (the &#8220;<U>Stock Purchase
    Agreement</U>&#8221;) for the purchase of 6,597,938 shares of th<FONT STYLE="font-size: 10pt">e Series A Preferred
    Stock</FONT> for an aggregate purchase price of $31,999,999.30.&nbsp;&nbsp;In addition, Centerbridge has agreed to provide a
    backstop commitment to purchase up to 3,402,062 additional shares of Series A Preferred Stock for $4.85 per share at a pro
    rata amount equal to the basic subscription amount for each fund.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">The Series A Preferred Stock has a liquidation preference of $4.85 per share and will mandatorily convert into Common Stock at a conversion price of $4.85 per share, subject to certain adjustments, upon receipt of approval of the issuance of shares of Common Stock upon conversion of the Series A Preferred Stock by the Company&#8217;s shareholders.&nbsp;&nbsp;Commencing on the 180th day after issuance of the Series A Preferred Stock, holders of the Series A Preferred Stock will be entitled to cumulative dividends at a rate of 6% per share on the liquidation preference unless any such dividends are not permitted by law or the terms of any loan agreement, credit agreement, guaranty, or related agreement.&nbsp;&nbsp;In such a case, the dividends will be deferred until conversion of the Series A Preferred Stock.&nbsp;&nbsp;Upon conversion of the Series A Preferred Stock, its holders will be entitled to receive the amount of any unpaid deferred dividends in cash or shares of Common Stock based on the conversion price then in effect.</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 89%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif; text-align: justify">As described in the Form 8-K, other stakeholders of the Issuer separately have entered into commitment letters with the Issuer in connection with the proposed Offering that, in each case, are substantially similar to the Stock Purchase Agreement.&nbsp;&nbsp;The Reporting Persons hereby expressly disclaim membership in a &#8220;group&#8221; (within the meaning of Section 13(d)(3) of the Exchange Act) with any other stakeholders in the Issuer, and the entry into the Stock Purchase Agreement and the filing of this Schedule 13D shall not be construed as an admission that any Reporting Person, for any purpose, is a member of a group with any such stakeholder, or any other person, or that the Reporting Persons beneficially own any shares of Common Stock beneficially owned by any other stakeholder, or any other person.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">The consummation of the transactions contemplated by the Purchase Agreements is subject to the satisfaction of certain closing conditions, including, without limitation, refinancing and amendment of certain of the Issuer&#8217;s credit facilities.&nbsp;&nbsp;Centerbridge has agreed in the Stock Purchase Agreement that it will vote all of its shares of common stock in favor of approval of conversion of the Series A Preferred Stock. In addition, pursuant to the Stock Purchase Agreement, Centerbridge and the Issuer intend to enter into an industry standard registration rights agreement on substantially the same terms and conditions as set forth in that certain Registration Rights Agreement by and among the Company and certain of its shareholders dated as of July 9, 2014. In addition, the relative rights, preferences, limitations and designations of the Series A Preferred Stock are set forth in the Certificate of Designation attached as Exhibit A to the Stock Purchase Agreement.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">The description of the Stock Purchase Agreement, including that of the Certificate of Designation, contained in this response to Item 4 is qualified in its entirety by reference to the Stock Purchase Agreement, which is incorporated herein by reference and attached hereto as <U>Exhibit 4</U>.</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif"><B>Item 5.</B></TD>
    <TD STYLE="width: 89%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif; text-align: justify"><B>INTEREST IN SECURITIES OF THE ISSUER</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Items 5(a) and (b) of the Schedule 13D is hereby amended and restated as follows:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">(a) &#8211; (b) The percentages of Common Stock reported herein are based on 7,354,449 shares of Common Stock outstanding as of August 9, 2016, as reported in the Issuer&#8217;s&nbsp;Form 10-Q&nbsp;for the period ended June 30, 2016 filed with the SEC on August 9, 2016, reflecting the one-for-ten reverse stock split effected by the Issuer on July 7, 2016 (the &#8220;<U>Reverse Stock Split</U>&#8221;), and assumes the conversion of all shares of Series A Preferred Stock.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 0.5in; text-align: justify">The information required by Items 5(a) &#8211; (b) is set forth in rows 7 &#8211; 13 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The number of shares set forth on the Reporting Persons&#8217; cover pages also gives effect to the Reverse Stock Split.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">(c) The Reporting Persons&#8217; response to Item 4 is incorporated by reference into this Item 5(c).</TD></TR>
</TABLE>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif"><B>Item 6.</B></TD>
    <TD STYLE="width: 89%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif"><B>CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER</B></TD></TR>
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    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
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    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Item 6 of the Schedule 13D is hereby amended and supplement by the addition of the following:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">The Reporting Persons&#8217; response to Item&nbsp;4 is incorporated by reference into this Item&nbsp;6.</TD></TR>
</TABLE>
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    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif"><B>Item 7.</B></TD>
    <TD STYLE="width: 89%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif; text-align: justify"><B>MATERIAL TO BE FILED AS EXHIBITS</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Item 7 of the Schedule 13D is hereby amended and supplemented by the addition of the following:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B><U>Exhibit</U></B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: justify"><B><U>Description </U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>4</B></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Stock Purchase Agreement, dated as of October 4, 2016.</TD></TR>
</TABLE>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">After reasonable
inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in
this statement is true, complete and correct.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Date: October 11, 2016</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 47%; padding-right: 5.75pt; padding-left: 5.75pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 53%; padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt">CENTERBRIDGE CREDIT PARTNERS, L.P.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By: Centerbridge Credit Partners</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 21.75pt">General Partner, L.P., its general partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt">By: Centerbridge Credit Cayman GP Ltd., its general partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Jeffrey H. Aronson&#9;</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name: Jeffrey H. Aronson</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title: Authorized Signatory</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 6pt">CENTERBRIDGE CREDIT PARTNERS GENERAL PARTNER, L.P.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt">By: Centerbridge Credit Cayman GP Ltd., its general partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Jeffrey H. Aronson&#9;</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name: Jeffrey H. Aronson</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title: Authorized Signatory</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 6pt"><FONT STYLE="text-transform: uppercase">Centerbridge Credit
        Cayman GP Ltd.</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Jeffrey H. Aronson&#9;</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name: Jeffrey H. Aronson</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title: Authorized Signatory</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 6pt">CENTERBRIDGE CREDIT PARTNERS MASTER, L.P.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By: Centerbridge Credit Partners Offshore General Partner, L.P.,
        its general partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt">By: Centerbridge Credit Cayman GP Ltd., its general partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Jeffrey H. Aronson&#9;</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name: Jeffrey H. Aronson</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title: Authorized Signatory</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 6pt">CENTERBRIDGE CREDIT PARTNERS OFFSHORE GENERAL PARTNER,
        L.P.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt">By: Centerbridge Credit Cayman GP Ltd., its general partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Jeffrey H. Aronson&#9;</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name: Jeffrey H. Aronson</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title: Authorized Signatory</P></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; padding-right: 5.75pt; padding-left: 5.75pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 53%; padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 6pt">CENTERBRIDGE CAPITAL PARTNERS II (CAYMAN), L.P.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By: Centerbridge Associates II (Cayman), L.P.,</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 21.75pt">its general partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0">By: CCP II Cayman GP Ltd., its</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0; text-indent: 24.75pt">general partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0">By: Centerbridge GP Investors II, LLC, its</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.7pt 6pt 0; text-indent: 24.75pt">director</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Jeffrey H. Aronson&#9;</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name: Jeffrey H. Aronson</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title: Authorized Signatory</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 6pt">CENTERBRIDGE CAPITAL PARTNERS SBS II (CAYMAN), L.P.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By: CCP II Cayman GP Ltd., its</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.75pt">general partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0">By: Centerbridge GP Investors II, LLC, its</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 24.75pt">director</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Jeffrey H. Aronson&#9;</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name: Jeffrey H. Aronson</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title: Authorized Signatory</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 6pt">CENTERBRIDGE ASSOCIATES II (CAYMAN), L.P.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0">By: CCP II Cayman GP Ltd., its</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0; text-indent: 24.75pt">general partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0">By: Centerbridge GP Investors II, LLC, its</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.7pt 6pt 0; text-indent: 24.75pt">director</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Jeffrey H. Aronson&#9;</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name: Jeffrey H. Aronson</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title: Authorized Signatory</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; padding-right: 5.75pt; padding-left: 5.75pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 53%; padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0.7pt 6pt 0">CCP II CAYMAN GP LTD.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0">By: Centerbridge GP Investors II, LLC, its</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.7pt 6pt 0; text-indent: 24.75pt">director</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Jeffrey H. Aronson&#9;</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name: Jeffrey H. Aronson</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title: Authorized Signatory</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; padding-right: 5.75pt; padding-left: 5.75pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 53%; padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0">CENTERBRIDGE SPECIAL CREDIT PARTNERS II AIV IV (CAYMAN),
        L.P.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0.7pt 0 0">By: Centerbridge Special Credit Partners General</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0; text-indent: 21.75pt">Partner II (Cayman), L.P., its general
        partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0">By: CSCP II Cayman GP Ltd., its general partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0">By: Centerbridge Special GP Investors II, L.L.C., its</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.7pt 6pt 0; text-indent: 24.75pt">director</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Jeffrey H. Aronson&#9;</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name: Jeffrey H. Aronson</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title: Authorized Signatory</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0.7pt 6pt 0">CENTERBRIDGE SPECIAL CREDIT PARTNERS GENERAL PARTNER
        II (CAYMAN), L.P.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0">By: CSCP II Cayman GP Ltd., its general partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0">By: Centerbridge Special GP Investors II, L.L.C., its</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.7pt 6pt 0; text-indent: 24.75pt">director</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Jeffrey H. Aronson&#9;</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name: Jeffrey H. Aronson</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title: Authorized Signatory</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 47%; padding-right: 5.75pt; padding-left: 5.75pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 53%; padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0.7pt 6pt 0">CSCP II CAYMAN GP LTD.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0">By: Centerbridge Special GP Investors II, L.L.C., its</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.7pt 6pt 0; text-indent: 24.75pt">director</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Jeffrey H. Aronson&#9;</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name: Jeffrey H. Aronson</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title: Authorized Signatory</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; padding-right: 5.75pt; padding-left: 5.75pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 53%; padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0">CENTERBRIDGE SPECIAL CREDIT PARTNERS II, L.P.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By: Centerbridge Special Credit Partners</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 21.75pt">General Partner II, L.P.,</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 21.75pt">its general partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0">By: CSCP II Cayman GP Ltd., its</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0; text-indent: 24.75pt">general partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0">By: Centerbridge Special GP Investors II, L.L.C., its</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0; text-indent: 24.75pt">director</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Jeffrey H. Aronson&#9;</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name: Jeffrey H. Aronson</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title: Authorized Signatory</P></TD></TR>
</TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><B>CUSIP No. Y2685T115</B></TD><TD STYLE="width: 34%; text-align: center"><B>SCHEDULE 13D/A</B></TD><TD STYLE="width: 33%; text-align: right"><B>Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --> of 24 Pages</B></TD></TR></TABLE>&nbsp;</DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; padding-right: 5.75pt; padding-left: 5.75pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 53%; padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0">CENTERBRIDGE SPECIAL CREDIT PARTNERS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">GENERAL PARTNER II, L.P.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0">By: CSCP II Cayman GP Ltd., its general partner</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0">By: Centerbridge Special GP Investors II, L.L.C., its</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.9pt 0 0; text-indent: 24.75pt">director</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Jeffrey H. Aronson&#9;</U></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name: Jeffrey H. Aronson</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title: Authorized Signatory</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0.7pt 6pt 0"><FONT STYLE="text-transform: uppercase">MARK T. GALLOGLY</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0"><FONT STYLE="text-transform: uppercase"><U>/</U></FONT><U>s<FONT STYLE="text-transform: uppercase">/
        </FONT>Mark T. Gallogly&#9;</U></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0.7pt 6pt 0"><FONT STYLE="text-transform: uppercase">Jeffrey H.
        Aronson</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.7pt 6pt 0"><FONT STYLE="text-transform: uppercase"><U>/</U></FONT><U>s<FONT STYLE="text-transform: uppercase">/
        </FONT>Jeffrey H. Aronson&#9;</U></P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>


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<FILENAME>p16-1926exhibit4.htm
<DESCRIPTION>EXHIBIT 4
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right; text-indent: 1in"><B><U>Exhibit 4</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><U>PURCHASE AGREEMENT</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">THIS PURCHASE AGREEMENT
(&ldquo;<U>Agreement</U>&rdquo;) is made as of October 4, 2016 by and among Genco Shipping &amp; Trading Limited, a Marshall Islands
corporation (the &ldquo;<U>Company</U>&rdquo;), and the Investors set forth on the signature pages affixed hereto (each an &ldquo;<U>Investor</U>&rdquo;
and collectively the &ldquo;<U>Investors</U>&rdquo;).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Recitals</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 11pt; color: #010000">A.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Company and the Investors are executing and delivering this Agreement in reliance upon
the exemption from securities registration afforded by the provisions of Regulation D (&ldquo;<U>Regulation D</U>&rdquo;), as promulgated
by the U.S. Securities and Exchange Commission (the &ldquo;<U>SEC</U>&rdquo;) under the Securities Act of 1933, as amended; and</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 11pt; color: #010000">B.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Investors wish to purchase from the Company, and the Company wishes to sell and issue
to the Investors, upon the terms and conditions stated in this Agreement, the Basic Shares (as defined below) and the Backstop
Shares (as defined herein) (the Basic Shares and the Backstop Shares, collectively, the &ldquo;<U>Shares</U>&rdquo; and each, a
&ldquo;<U>Share</U>&rdquo;) of the Company&rsquo;s Series A Convertible Preferred Stock, par value $0.01 per share (the &ldquo;<U>Series
A Preferred Stock</U>&rdquo;), such Series A Preferred Stock to have the relative rights, preferences, limitations and designations
set forth in the Certificate of Designations set forth as <U>Exhibit A</U> attached hereto (the &ldquo;<U>Certificate of Designations</U>&rdquo;)
and to be convertible into an aggregate of up to 10,000,000 shares (subject to adjustment) (such shares together with shares into
which the Commitment Fee (as defined below) may be converted, the &ldquo;<U>Conversion Shares</U>&rdquo;) of the Company&rsquo;s
Common Stock, par value $0.01 per share (together with any securities into which such shares may be reclassified, whether by merger,
charter amendment or otherwise, to the extent the Shares, in connection with any such reclassification, become convertible into
such securities pursuant to the Certificate of Designations, the &ldquo;<U>Common Stock</U>&rdquo;), at a conversion price of $4.85
per Share (subject to adjustment), at a purchase price of $4.85 per Share (the &ldquo;<U>Per Share Price</U>&rdquo;), for an aggregate
purchase price of up to $48,500,000 (the &ldquo;<U>Purchase Price</U>&rdquo;); and </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 11pt; color: #010000">C.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Contemporaneous with the execution and delivery of this Agreement, the Company is entering
into a purchase agreement with each of the Other Existing Investors (as defined below) on substantially the same terms and conditions
as this Agreement (other than with respect to the number of shares of Series A Preferred Stock to be purchased by such Other Existing
Investor) providing for the purchase of shares of Series A Preferred Stock for an aggregate purchase price (taken together with
the Purchase Price) of up to One Hundred Twenty Five Million Dollars ($125,000,000) (each an &ldquo;<U>Other Purchase Agreement</U>&rdquo;);
and</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 11pt; color: #010000">D.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Contemporaneous with the sale of the Shares, the parties hereto will execute and deliver a
Registration Rights Agreement (the &ldquo;<U>Registration Rights Agreement</U>&rdquo;), pursuant to which the Company will agree
to provide certain registration rights under the Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder, and applicable state securities laws on substantially the same terms and conditions as set forth in that certain Registration
Rights Agreement by and among the Company and certain of its shareholders dated as of July 9, 2014 (the &ldquo;<U>Prior Registration
Rights Agreement</U>&rdquo;). </FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">In consideration of
the mutual promises made herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Definitions</U>. In addition to those terms defined above and elsewhere in this
Agreement, for the purposes of this Agreement, the following terms shall have the meanings set forth below: </FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Additional
Private Placement</U>&rdquo; has the meaning set forth in Section 7.11.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Affiliate</U>&rdquo;
means, with respect to any Person, any other Person which directly or indirectly through one or more intermediaries Controls, is
controlled by, or is under common Control with, such Person.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Agents</U>&rdquo;
means, collectively, Jefferies LLC (&ldquo;<U>Jefferies</U>&rdquo;), DNB Markets ASA and Evercore Group LLC.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Backstop
Commitment</U>&rdquo; means, with respect to any Investor, the backstop subscription amount set forth opposite such Investor&rsquo;s
name on <U>Schedule 1</U> hereto, as adjusted pursuant to Section 3.3.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Backstop
Shares</U>&rdquo; has the meaning set forth in Section 2.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Basic Shares</U>&rdquo;
has the meaning set forth in Section 2.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Basic Subscription
Amount</U>&rdquo; has the meaning set forth in Section 2.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Business
Day</U>&rdquo; means any day, other than a Saturday or Sunday or other day, on which banks in the City of New York are authorized
or required by law or executive order to remain closed.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Closing</U>&rdquo;
has the meaning set forth in Section 3.1.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<FONT STYLE="font-weight: normal"><U>Closing
Date</U></FONT>&rdquo; means the Business Day on which the Closing occurs, which shall be no earlier than the date as of which
all of the Transaction Documents have been executed and delivered by the applicable parties thereto and all conditions precedent
to (i) the Investors&rsquo; obligations to pay the Subscription Amount, and (ii) the Company&rsquo;s obligations to deliver the
Shares at the Closing, in each case, have been satisfied or waived.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Commitment
Fee</U>&rdquo; shall mean 500,000 shares of Series A Preferred Stock.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Common Stock
Equivalents</U>&rdquo; means any securities of the Company or its Subsidiaries which would entitle the holder thereof to acquire
at any time Common Stock, including without limitation, any debt, preferred stock, rights, options, warrants or other instrument
that is at any time convertible into or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Company&rsquo;s
Knowledge</U>&rdquo; means the actual knowledge of Peter C. Georgiopoulos, John C. Wobensmith, Apostolos D. Zafolias, or Joseph
Adamo.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Confidential
Information</U>&rdquo; means trade secrets, confidential information and know-how (including but not limited to ideas, formulae,
compositions, processes, procedures and techniques, research and development information, computer program code, performance specifications,
support documentation, drawings, specifications, designs, business and marketing plans, and customer and supplier lists and related
information).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Control</U>&rdquo;
(including the terms &ldquo;controlling&rdquo;, &ldquo;controlled by&rdquo; or &ldquo;under common control with&rdquo;) means the
possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether
through the ownership of voting securities, by contract or otherwise.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Debt Commitment
Letter</U>&rdquo; means that certain Second Amended and Restated Commitment Letter by and among the Company, Nordea Bank Finland
plc, New York Branch, Skandinaviska Enskilda Banken AB (publ), DVB Bank SE, ABN AMRO Capital USA LLC, Cr&eacute;dit Agricole Corporate
and Investment Bank, Deutsche Bank AG Filiale Deutschlandgesch&auml;ft, Cr&eacute;dit Industriel et Commercial and BNP Paribas
in substantially the form attached hereto as <U>Exhibit C</U>.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Deemed Liquidation
Event</U>&rdquo; means the voluntary or involuntary liquidation, dissolution or winding up of the Company, or such Subsidiaries
the assets of which constitute all or substantially all of the assets of the business of the Company and its Subsidiaries taken
as a whole, in a single transaction or series of transactions, or adoption of any plan for the same.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Effective
Date</U>&rdquo; means the date on which the initial Registration Statement is declared effective by the SEC.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Effectiveness
Deadline</U>&rdquo; means the date on which the initial Registration Statement is required to be declared effective by the SEC
under the terms of the Registration Rights Agreement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Fundamental
Representations</U>&rdquo; means the representations and warranties set forth in Section 4.1 (first and fourth sentences only),
Section 4.2, Section 4.3, Section 4.4, Section 4.25 and the last sentence of Section 4.30.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Hayfin Facility
Agreement</U>&rdquo; means the Facility Agreement, dated November 4, 2015, by and among the indirect Subsidiaries of the Company
listed therein as borrowers, Genco Holdings Limited, the financial institutions listed therein as lenders, and Hayfin Services
LLP, as agent and security agent.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Hayfin Term
Sheet</U>&rdquo; means the term sheet dated June 29, 2016 in respect of the proposed amendment of the Hayfin Facility Agreement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Insider</U>&rdquo;
means each director, executive officer, other officer of the Company participating in the offering, any beneficial owner of 20%
or more of the Company&rsquo;s outstanding voting equity securities, calculated on the basis of voting power, and any promoter
connected with the Company in any capacity on the date hereof.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Intellectual
Property</U>&rdquo; means all of the following: (i) patents, patent applications, patent disclosures and inventions (whether or
not patentable and whether or not reduced to practice); (ii) trademarks, service marks, trade dress, trade names, corporate names,
logos, slogans and Internet domain names, together with all goodwill associated with each of the foregoing; (iii) copyrights and
copyrightable works; (iv) registrations, applications and renewals for any of the foregoing; and (v) proprietary computer software
(including but not limited to data, data bases and documentation).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Material
Adverse Effect</U>&rdquo; means a material adverse effect on (x) the assets, liabilities, results of operations, condition (financial
or otherwise) or business of the Company and its Subsidiaries taken as a whole, or (y) the ability of the Company to perform its
obligations under the Transaction Documents, except that any of the following, either alone or in combination, shall not be deemed
a Material Adverse Effect: (i) effects caused by changes or circumstances affecting general market conditions in the U.S. economy
or which are generally applicable to the industry in which the Company operates, provided that such effects are not borne disproportionately
by the Company, (ii) effects resulting from or relating to the announcement or disclosure of the sale of the Securities or other
transactions contemplated by this Agreement or any other Transaction Document, or (iii) effects caused by any event, occurrence
or condition resulting from or relating to the taking of any action in accordance with this Agreement or any other Transaction
Document.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Material
Contract</U>&rdquo; means any contract, instrument or other agreement to which the Company or any Subsidiary is a party or by which
it is bound which is material to the business of the Company and its Subsidiaries, taken as a whole, including those that have
been filed or were required to have been filed as an exhibit to the SEC Filings pursuant to Item 601(b)(4) or Item 601(b)(10) of
Regulation S-K.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>NYSE</U>&rdquo;
means the New York Stock Exchange.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Other Existing
Investors</U>&rdquo; means funds and/or related entities managed by Strategic Value Partners, LLC or its Affiliates and funds managed
by Affiliates of Apollo Global Management, LLC that are shareholders of the Company as of the date of this Agreement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Per Share
Price</U>&rdquo; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Person</U>&rdquo;
means an individual, corporation, partnership, limited liability company, trust, business trust, association, joint stock company,
joint venture, sole proprietorship, unincorporated organization, governmental authority or any other form of entity not specifically
listed herein.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Proposal</U>&rdquo;
has the meaning set forth in Section 7.9.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Registrar
of Corporations</U>&rdquo; shall mean the Registrar of Corporations of the Republic of the Marshall Islands.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Registration
Statement</U>&rdquo; has the meaning set forth in the Registration Rights Agreement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>SEC Filings</U>&rdquo;
has the meaning set forth in Section 4.6.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Securities</U>&rdquo;
means the Shares, the Conversion Shares, and the Commitment Fee.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Shares</U>&rdquo;
has the meaning set forth in the Recitals.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Stockholders
Meeting</U>&rdquo; has the meaning set forth in Section 7.9(a).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Stockholders
Meeting Deadline</U>&rdquo; has the meaning set forth in Section 7.9(a).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Subsequent
Stockholders Meeting</U>&rdquo; has the meaning set forth in Section 7.9(a).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Subsidiary</U>&rdquo;
of any Person means another Person, an amount of the voting securities, other voting ownership or voting partnership interests
of which is sufficient to elect at least a majority of its Board of Directors or other governing body (or, if there are no such
voting interests, 50% or more of the equity interests of which) is owned directly or indirectly by such first Person.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Transaction
Documents</U>&rdquo; means this Agreement, the Certificate of Designations, and the Registration Rights Agreement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>Transfer
Agent</U>&rdquo; means Computershare, Inc.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>1933 Act</U>&rdquo;
means the Securities Act of 1933, as amended, or any successor statute, and the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&ldquo;<U>1934 Act</U>&rdquo;
means the Securities Exchange Act of 1934, as amended, or any successor statute, and the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Purchase and Sale of the Shares</U>. Subject to the terms and conditions of this
Agreement, on the Closing Date, each Investor shall severally, and not jointly, purchase, and the Company shall sell and issue
to each Investor, (i) that number of basic shares of Series A Preferred Stock set forth opposite such Investor&rsquo;s name on
<U>Schedule 1</U> (the &ldquo;<U>Basic Shares</U>&rdquo;) in exchange for the portion of the Purchase Price equal to the basic
share subscription amount set forth opposite such Investor&rsquo;s name on <U>Schedule 1</U> (such Investor&rsquo;s &ldquo;<U>Basic
Subscription Amount</U>&rdquo;) and, if applicable, (ii) that number of shares of Series A Preferred Stock equal to such Investor&rsquo;s
Backstop Commitment divided by the Per Share Price (the &ldquo;<U>Backstop Shares</U>&rdquo;), in exchange for the portion of the
Purchase Price equal to such Investor&rsquo;s Backstop Commitment (such Investor&rsquo;s Backstop Commitment, together with such
Investor&rsquo;s Basic Subscription Amount, such Investor&rsquo;s &ldquo;<U>Subscription Amount</U>&rdquo;).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Closing</U>. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">3.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Closing</U>. The Closing of the purchase and sale of the Shares (the &ldquo;<U>Closing</U>&rdquo;)
shall take place at the offices of Kramer Levin Naftalis &amp; Frankel LLP on the third Business Day following the satisfaction
or waiver of the conditions to closing specified herein (other than those conditions which will be satisfied at the Closing), or
at such other location and on such other date as the Company and the Investors shall mutually agree. The Company shall deliver
a notice of the Closing Date to each Investor at least three (3) Business Days prior to the Closing Date. On the Closing Date,
each Investor shall cause a wire transfer in immediately available funds to be sent to the account designated by the Company, in
an amount representing such Investor&rsquo;s Subscription Amount, and the Company shall file the Certificate of Designations with
the Registrar of Corporations. Upon receipt of the Purchase Price by the Company, the certificates evidencing the Shares shall
be released to the Investors. In addition, in consideration of each Investor providing its Backstop Commitment hereunder, such
Investor shall be entitled to receive at the Closing, its pro rata portion of the Commitment Fee. </FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">3.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt">[Intentionally omitted].</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">3.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Certain Adjustments</U>. Any sales of Series A Preferred Stock in the Additional
Private Placement (which, for the avoidance of doubt, does not include the sale of Series A Preferred Stock pursuant to this Agreement
or the Other Purchase Agreements) will reduce each outstanding unexercised Backstop Commitment by multiplying such Backstop Commitment
by a fraction, the numerator of which is equal to $38,600,000 less the aggregate proceeds from the Additional Private Placement
and the denominator of which is equal to $38,600,000, <U>provided</U> that no Backstop Commitment shall be reduced below zero.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Representations and Warranties of the Company</U>. The Company hereby represents
and warrants to the Investors that, except as set forth in the schedules delivered herewith (collectively, the &ldquo;<U>Disclosure
Schedules</U>&rdquo;):</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Organization, Good Standing and Qualification</U>. The Company is a corporation
duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation and has all requisite
corporate power and authority to carry on its business as now conducted and to own or lease its properties. Each of the Company&rsquo;s
Subsidiaries is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation
and has all requisite corporate power and authority to carry on its business as now conducted and to own or lease its properties.
Each of the Company and its Subsidiaries is duly qualified to do business as a foreign corporation and is in good standing in each
jurisdiction in which the conduct of its business or its ownership or leasing of property makes such qualification or leasing necessary
unless the failure to be in good standing or so qualified has not had and would not reasonably be expected to have a Material Adverse
Effect. Except as set forth in <U>Schedule 4.1</U> hereto, each of the Company and its Subsidiaries is not the subject of any judicial
composition proceeding, bankruptcy proceeding or any similar process or of any judgment or dissolution. The Company&rsquo;s Subsidiaries
are listed on <U>Schedule 4.1</U> hereto.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Authorization</U>. The Company has all corporate power and authority and, except
for the filing of the Certificate of Designations with the Registrar of Corporations and the approval of the Proposal at the Stockholders
Meeting or any Subsequent Stockholders Meeting, has taken all requisite action on the part of the Company, its officers, directors
and stockholders necessary for (i) the authorization, execution and delivery of the Transaction Documents, (ii) the authorization
of the performance of all obligations of the Company hereunder or thereunder, and (iii) the authorization, issuance (or reservation
for issuance) and delivery of the Securities. The Transaction Documents, upon execution and delivery thereof by the Company, will
constitute the legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their terms,
subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability, relating
to or affecting creditors&rsquo; rights generally and to general equitable principles.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Capitalization</U>. The capitalization of the Company as of the date hereof is as
set forth in the Company&rsquo;s Form 10-Q for the quarterly period ended June 30, 2016 (the &ldquo;<U>Q2 2016 10-Q</U>&rdquo;).
The Company has not issued any capital stock since its most recently filed periodic report under the 1934 Act except as may be
issuable upon the exercise of outstanding warrants, the settlement of outstanding restricted stock units disclosed in the SEC Filings,
or future awards under the Company&rsquo;s 2015 Equity Incentive Plan. No Person has any right of first refusal, preemptive right,
right of participation, or any similar right to participate in any transaction pertaining to the Company&rsquo;s capital</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">stock. Except as set
forth in the SEC Filings or future awards under the 2015 Equity Incentive Plan, there are no outstanding options, warrants, script
rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible
into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire, any shares of Common Stock,
or contracts, commitments, understandings or arrangements by which the Company or any Subsidiary of the Company is or may become
bound to issue additional shares of Common Stock or Common Stock Equivalents. The issuance and sale of the Securities will not
obligate the Company to issue shares of Common Stock or other securities to any Person (other than the Investors) and will not
result in a right of any holder of Company securities to adjust the exercise, conversion, exchange or reset price under such securities.
All of the outstanding shares of capital stock of the Company are validly issued, fully paid and nonassessable, have been issued
in compliance with all federal and state securities laws, and none of such outstanding shares was issued in violation of any preemptive
rights or similar rights to subscribe for or purchase securities. No further approval or authorization of any stockholder, the
Board of Directors of the Company or others is required for the issuance and sale of the Securities except as described in Section
7.9 hereof. Except as set forth in the SEC Filings, there are no stockholders agreements, voting agreements or other similar agreements
with respect to the Company&rsquo;s capital stock to which the Company is a party or, to the Company&rsquo;s Knowledge as of the
date hereof, between or among any of the Company&rsquo;s stockholders. Other than the rights being granted to the Investors or
the Other Existing Investors pursuant to the Registration Rights Agreement, to participants in the Additional Private Placement,
or as set forth in the SEC Filings, no person has any right to cause the Company to effect the registration under the 1933 Act
of any securities of the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Valid Issuance</U>. Upon the filing of the Certificate of Designations with the
Registrar of Corporations, the Shares and the Commitment Fee will have been duly and validly authorized and, when issued and paid
for pursuant to this Agreement, will be validly issued, fully paid and nonassessable, and shall be free and clear of all encumbrances
and restrictions (other than those created by the Investors), except for restrictions on transfer set forth in the Transaction
Documents or imposed by applicable securities laws. Upon the due conversion of the Shares, the Conversion Shares and the Commitment
Fee will be validly issued, fully paid and nonassessable free and clear of all encumbrances and restrictions, except for restrictions
on transfer set forth in the Transaction Documents or imposed by applicable securities laws (other than those created by the Investors).
The Company has reserved a sufficient number of shares of Common Stock for issuance upon the conversion of the Shares and the Commitment
Fee.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Consents</U>. Except for the filing of the Certificate of Designations with the
Registrar of Corporations, the execution, delivery and performance by the Company of the Transaction Documents, approval of the
Proposal by the Company&rsquo;s shareholders, and the offer, issuance and sale of the Securities require no consent of, action
by or in respect of, or filing with, any Person, governmental body, agency, or official other than filings that have been made
(or shall have been made prior to Closing) pursuant to applicable state securities laws and NYSE listing requirements and post-sale
filings pursuant to applicable state and federal securities laws which the Company undertakes to file within the applicable time
periods and approval of the Proposal at the Stockholders Meeting.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Delivery of SEC Filings; Business</U>. The Company has made available to the Investors
through the EDGAR system, true and complete copies of the Company&rsquo;s most recent Annual Report on Form 10-K for the fiscal
year ended December 31, 2015 (the &ldquo;<U>10-K</U>&rdquo;), and all other reports filed by the Company pursuant to the 1934 Act
since the filing of the 10-K (collectively, the &ldquo;<U>SEC Filings</U>&rdquo;). The SEC Filings are the only filings required
of the Company pursuant to the 1934 Act for such period.</FONT><BR CLEAR="ALL">
</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Use of Proceeds</U>. The net proceeds of the sale of the Shares hereunder shall
be used by the Company for debt repayment, working capital and general corporate purposes.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Absence of Certain Events</U>. Since the date of the latest audited financial statements
included within the SEC Filings, except as specifically disclosed in the SEC Filings prior to the date hereof or on Schedule 4.8,
(i) the Company has not altered its method of accounting, (ii) the Company has not declared or made any dividend or distribution
of cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of
its capital stock, except in connection with the payment of the exercise price of, or withholding taxes for, awards under the Company&rsquo;s
equity incentive plans, and (iii) the Company has not issued any equity securities to any officer, director or Affiliate, except
pursuant to the Company&rsquo;s existing equity incentive plans. As of the date hereof, the Company does not have pending before
the SEC any request for confidential treatment of information. Except for the transactions contemplated by this Agreement, no event,
liability, fact, circumstance, occurrence or development has occurred or exists with respect to the Company or its business, properties,
operations, financial condition or prospects that would be required to be disclosed by the Company under applicable securities
laws at the time this representation is made that has not been publicly disclosed.&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>SEC Filings</U>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(a)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">At the time of filing thereof, the SEC Filings complied as to form in all material respects
with the requirements of the 1934 Act and did not contain any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary in order to make the statements made therein, in the light of the circumstances
under which they were made, not misleading.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Each registration statement and any amendment thereto filed by the Company during the two
years preceding the date hereof pursuant to the 1933 Act, as of the date such statement or amendment became effective, complied
as to form in all material respects with the 1933 Act and did not contain any untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary in order to make the statements made therein not misleading; and each
prospectus filed pursuant to Rule 424(b) under the 1933 Act, as of its issue date and as of the closing of any sale of securities
pursuant thereto did not contain any untrue statement of a material fact or omit to state any material fact required to be stated
therein or necessary in order to make the statements made therein, in the light of the circumstances under which they were made,
not misleading.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>No Conflict, Breach, Violation or Default</U>. Subject to the filing of the Certificate
of Designations with the Registrar of Corporations, the execution, delivery and performance of the Transaction Documents by the
Company and the issuance and sale of the Securities will not (i) conflict with or result in a breach or violation of (a) any of
the terms and provisions of, or constitute a default under the Company&rsquo;s Second Amended and Restated Articles of Incorporation,
as amended, or the Company&rsquo;s Amended and Restated Bylaws, both as in effect on the date hereof (true and complete copies
of which have been made available to the Investors through the EDGAR system), or (b) any statute, rule, regulation or order of
any governmental agency or body or any court, domestic or foreign, having jurisdiction over the Company, any Subsidiary of the
Company or any of their respective assets or properties, except, with respect to subclause (i)(b), as which have not had and would
not reasonably be expected to have a Material Adverse Effect, individually or in the aggregate, or (ii) conflict with, or</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">constitute a default
(or an event that with notice or lapse of time or both would become a default) under, result in the creation of any lien, encumbrance
or other adverse claim upon any of the properties or assets of the Company or any Subsidiary of the Company or give to others any
rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any Material
Contract, except as which have not had and would not reasonably be expected to have a Material Adverse Effect, individually or
in the aggregate.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Tax Matters</U>. The Company and each Subsidiary of the Company has timely prepared
and filed (or timely filed for an extension for) all tax returns required to have been filed by the Company or such Subsidiary
with all appropriate governmental agencies and timely paid all taxes shown thereon or otherwise owed by it, other than taxes being
contested in good faith and for which adequate reserves have been made on the Company&rsquo;s financial statements included in
the SEC Filings. The charges, accruals and reserves on the books of the Company in respect of taxes for all fiscal periods are
adequate in all material respects, and there are no material unpaid assessments against the Company or any of its Subsidiaries
nor, to the Company&rsquo;s Knowledge, any basis for the assessment of any additional taxes, penalties or interest for any fiscal
period or audits by any federal, state or local taxing authority except for any assessment which is not material to the Company
and its Subsidiaries, taken as a whole.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">All taxes and other
assessments and levies that the Company or any of its Subsidiaries is required to withhold or to collect for payment have been
duly withheld and collected and paid to the proper governmental entity or third party when due, other than taxes being contested
in good faith and for which adequate reserves have been made on the Company&rsquo;s financial statements included in the SEC Filings.
There are no tax liens or claims pending or, to the Company&rsquo;s Knowledge, threatened against the Company or any of its Subsidiaries
or any of their respective assets or property. Except as described on <U>Schedule 4.11</U>, there are no outstanding tax sharing
agreements or other such arrangements between the Company and any of its Subsidiaries or other corporation or entity.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Title to Properties</U>. Except as disclosed in the SEC Filings or <U>Schedule 4.12</U>,
the Company and each of its Subsidiaries has good and marketable title to all real properties and all other properties and assets
owned by it, in each case free from liens, encumbrances and defects that would materially affect the value thereof or materially
interfere with the use made or currently planned to be made thereof by them; and except as disclosed in the SEC Filings, the Company
and each of its Subsidiaries holds any leased real or personal property under valid and enforceable leases with no exceptions that
would materially interfere with the use made or currently planned to be made thereof by them.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.13<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Registry of and Title to Vessels; Good Standing</U>. Each of the Company&rsquo;s
vessels is owned directly by the Company or one its Subsidiaries, has been duly registered as a vessel under the laws and regulations
and flag of its jurisdiction in the sole ownership of the Company or such Subsidiary, except as would not, individually or in the
aggregate, be reasonably expected to have a Material Adverse Effect; the Company or each such Subsidiary, as applicable, has good
title to the applicable vessel, free and clear of all mortgages, pledges, liens, security interests and claims and all defects
of the title of record other than as disclosed in Schedule 4.13, and no other action is necessary to establish and perfect such
entity&rsquo;s title to and interest in such vessel as against any charterer or third party, except as would not, individually
or in the aggregate, be reasonably expected to have a Material Adverse Effect; and each such vessel is in good standing with respect
to the payment of past and current taxes, fees and other amounts payable under the laws of the jurisdiction where it is registered
as would affect its registry with the ship registry of such jurisdiction except for failures to be in good standing which would
not, in the aggregate, be reasonably expected to have a Material Adverse Effect.</FONT><BR CLEAR="ALL">
</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.14<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Compliance with Maritime Guidelines</U>. Except with respect to vessels described
in <U>Schedule 4.14</U>, each of the Company&rsquo;s vessels is operated in compliance with the rules, codes of practice, conventions,
protocols, guidelines or similar requirements or restrictions imposed, published or promulgated by any governmental authority,
classification society or insurer applicable to the respective vessel (collectively, &ldquo;<U>Maritime Guidelines</U>&rdquo;)
and all applicable international, national, state and local conventions, laws, regulations, orders, governmental licenses and other
requirements (including, without limitation, all environmental laws), except where such failure to be in compliance would not,
individually or in the aggregate, be reasonably expected to have a Material Adverse Effect.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.15<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Classification</U>. Except with respect to vessels described in <U>Schedule 4.15</U>,
each vessel is classed by a classification society which is a full member of the International Association of Classification Societies
and is in class with valid class and trading certificates, without any overdue recommendations, except as would not, individually
or in the aggregate, be reasonably expected to have a Material Adverse Effect.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.16<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Certificates, Authorities and Permits</U>. The Company and each of its Subsidiaries
possess adequate certificates, authorities or permits issued by appropriate governmental agencies or bodies necessary to conduct
the business now operated by it, except where such failure has not had and would not reasonably be expected to have a Material
Adverse Effect, individually or in the aggregate, and neither the Company nor any of its Subsidiaries has received any notice of
proceedings relating to the revocation or modification of any such certificate, authority or permit that, if determined adversely
to the Company or any such Subsidiary, would reasonably be expected to have a Material Adverse Effect, individually or in the aggregate.
Neither the Company nor any of its Subsidiaries have been in violation or breach of, or default under, any such certificate, authority
or permit except where such violation, breach or failure would not reasonably be expected to have a Material Adverse Effect, individually
or in the aggregate.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.17<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Labor Matters</U>. No material labor dispute exists or, to the Company&rsquo;s Knowledge,
has been threatened with respect to any of the employees of the Company which would reasonably be expected to result in a Material
Adverse Effect. To the Company&rsquo;s Knowledge, none of the Company&rsquo;s or its Subsidiaries&rsquo; employees is a member
of a union that relates to such employee&rsquo;s relationship with the Company or such Subsidiary, and neither the Company nor
any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe that their
relationships with their employees are good. No executive officer, to the Company&rsquo;s Knowledge, is, or is now expected to
be, in violation of any material term of any employment contract, confidentiality, disclosure or proprietary information agreement
or non-competition agreement, or any other contract or agreement or any restrictive covenant in favor of any third party, and the
continued employment of each such executive officer does not subject the Company or any of its Subsidiaries to any liability with
respect to any of the foregoing matters. The Company and its Subsidiaries are in compliance with all U.S. federal, state, local
and foreign laws and regulations relating to employment and employment practices, terms and conditions of employment and wages
and hours, except where the failure to be in compliance would not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect.&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.18<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Intellectual Property</U>. The Company and its Subsidiaries own, possess, or can
acquire on reasonable terms, all Intellectual Property necessary for the conduct of its business as now conducted or as described
in the SEC Filings to be conducted, except as such failure to own, possess, or acquire such rights would not result in a Material
Adverse Effect. Except as set forth in the SEC Filings, as of the date hereof, there is no pending or, to the Company&rsquo;s Knowledge,
threatened action, suit,</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">proceeding or claim
by others challenging the Company&rsquo;s or Subsidiaries&rsquo; rights in or to any such Intellectual Property, or alleging that
the Company infringes, misappropriates or otherwise violates any Intellectual Property or other proprietary rights of others, and
the Company is unaware of any facts which would form a reasonable basis for any such claim, in each case except as would not reasonably
be expected to have a Material Adverse Effect, individually or in the aggregate.&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.19<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Environmental Matters</U>. Neither the Company nor any of its Subsidiaries is in
violation of any statute, rule, regulation, decision or order of any governmental agency or body or any court, domestic or foreign,
relating to the use, disposal or release of hazardous or toxic substances or relating to the protection or restoration of the environment
or human exposure to hazardous or toxic substances (collectively, &ldquo;<U>Environmental Laws</U>&rdquo;), owns or operates any
real property contaminated with any substance that is subject to any Environmental Laws, is liable for any off-site disposal or
contamination pursuant to any Environmental Laws, or is subject to any claim relating to any Environmental Laws, which violation,
contamination, liability or claim has had or would reasonably be expected to have a Material Adverse Effect, individually or in
the aggregate; and there is no pending or, to the Company&rsquo;s Knowledge, threatened investigation that might lead to such a
claim.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.20<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Litigation</U>. Except as described in the SEC Filings, there are no legal, governmental
or regulatory investigations, actions, suits or proceedings pending to which the Company or any of its Subsidiaries is or may be
a party or to which any property of the Company or any of its Subsidiaries is or may be the subject that, individually or in the
aggregate, would reasonably be expected to have a Material Adverse Effect or materially and adversely affect the ability of the
Company to perform its obligations under the Transaction Documents; no such investigations, actions, suits or proceedings are,
to the Company&rsquo;s Knowledge, threatened or contemplated by any governmental or regulatory authority or threatened by others.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.21<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Financial Statements</U>. The financial statements included in the SEC Filings comply
in all material respects with applicable accounting requirements and the rules and regulations of the SEC with respect thereto
as in effect at the time of filing (or to the extent corrected by a subsequent restatement) and present fairly, in all material
respects, the consolidated financial position of the Company as of the dates shown and its consolidated results of operations and
cash flows for the periods shown, and such financial statements have been prepared in conformity with United States generally accepted
accounting principles applied on a consistent basis (&ldquo;<U>GAAP</U>&rdquo;) (except as may be disclosed therein or in the notes
thereto, and, in the case of quarterly financial statements, except for normal year-end audit adjustments and as otherwise as permitted
by Form 10-Q under the 1934 Act). Except as set forth in the financial statements of the Company included in the SEC Filings filed
prior to the date hereof or as described on <U>Schedule 4.21</U>, neither the Company nor any of its Subsidiaries has incurred
any liabilities, contingent or otherwise, except those incurred in the ordinary course of business, consistent (as to amount and
nature) with past practices since the date of such financial statements, none of which, individually or in the aggregate, have
had or could reasonably be expected to have a Material Adverse Effect.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.22<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Insurance Coverage</U>. The Company and each of its Subsidiaries maintains in full
force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties
owned or leased by the Company and each such Subsidiary.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.23<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Compliance with Law</U>. The Company and each of its Subsidiaries are in compliance,
and since January 1, 2013, have been in compliance, in all material respects, with all U.S. federal, state, local and foreign laws
and regulations applicable to them or the operation of their respective business or by which their assets are bound or affected,
except as would not reasonably be expected to have a Material Adverse Effect, individually or in the aggregate. None of the Company
or any of its Subsidiaries have received any written notice of any material violation of any U.S. federal, state, local and foreign
laws and regulations applicable to them or the operations of their respective businesses or by which their assets are bound or
affected at any time since January 1, 2013, except as would not reasonably be expected to have a Material Adverse Effect, individually
or in the aggregate.</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.24<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Compliance with NYSE Continued Listing Requirements</U>. Except as described in
the SEC Filings or as a result of this Agreement and the transactions contemplated hereby: (i) the Company is in compliance with
applicable NYSE continued listing requirements, and (ii) there are no proceedings pending or, to the Company&rsquo;s Knowledge,
threatened against the Company relating to the continued listing of the Common Stock on the NYSE and the Company has not received
any notice of, nor to the Company&rsquo;s Knowledge is there any basis for, the delisting of the Common Stock from the NYSE.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.25<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Brokers and Finders</U>. No Person will have, as a result of the transactions contemplated
by the Transaction Documents, any valid right, interest or claim against or upon the Company, any of its Subsidiaries or an Investor
for any commission, fee or other compensation pursuant to any agreement, arrangement or understanding entered into by or on behalf
of the Company, other than as described in <U>Schedule 4.25</U>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.26<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>No Directed Selling Efforts or General Solicitation</U>. Neither the Company nor
any Person acting on its behalf has conducted any general solicitation or general advertising (as those terms are used in Regulation
D) in connection with the offer or sale of any of the Securities.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.27<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>No Integrated Offering</U>. Neither the Company nor any of its Affiliates, nor any
Person acting on its or their behalf has, directly or indirectly, made any offers or sales of any Company security or solicited
any offers to buy any security, under circumstances that would be reasonably likely to adversely affect reliance by the Company
on Section 4(a)(2) for the exemption from registration for the transactions contemplated hereby or would require registration of
the Securities under the 1933 Act.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.28<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Rule 506 Compliance</U>. To the Company&rsquo;s Knowledge, neither the Company nor
any Insider is subject to any of the &ldquo;<U>Bad Actor</U>&rdquo; disqualifications described in Rule 506(d)(1)(i) to (viii)
under the 1933 Act (a &ldquo;<U>Disqualification Event</U>&rdquo;), except for a Disqualification Event covered by Rule 506(d)(2)(i)
or (d)(3) of the 1933 Act. The Company is not disqualified from relying on Rule 506 of Regulation D under the 1933 Act (&ldquo;<U>Rule
506</U>&rdquo;) for any of the reasons stated in Rule 506(d) in connection with the issuance and sale of the Securities to the
Investors pursuant to this Agreement. The Company has exercised reasonable care to determine whether any such disqualification
under Rule 506(d) exists.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.29<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Private Placement</U>. Assuming the accuracy of the representations and warranties
of the Investors in Section 5 hereof, the offer and sale of the Securities to the Investors as contemplated hereby is exempt from
the registration requirements of the 1933 Act.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.30<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Material Contracts</U>. As of the date of this Agreement, neither the Company nor
any of its Subsidiaries is a party to any Material Contract that has not been filed. Except as would not have a Material Adverse
Effect, (i)&nbsp;each Material Contract is a valid, binding and legally enforceable obligation of the Company or any of its Subsidiaries,
as the case may be, and, to the Company&rsquo;s Knowledge, of the other parties thereto, subject to bankruptcy, insolvency, fraudulent
transfer,</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">reorganization, moratorium
and similar laws of general applicability, relating to or affecting creditors&rsquo; rights generally and to general equitable
principles; (ii)&nbsp;each Material Contract is in full force and effect; (iii)&nbsp;neither the Company nor any of its Subsidiaries
is (with or without notice or lapse of time, or both) in breach or default under any Material Contract and, to the Company&rsquo;s
Knowledge, no other party to any Material Contract is (with or without notice or lapse of time, or both) in breach or default thereunder
except as is subject to a waiver described in the SEC Filings; (iv) neither the Company nor any of its Subsidiaries has received
written notice of any breach or default of any Material Contract other than as may be set forth in any waiver described in the
SEC Filings, and (v) neither the Company nor any of its Subsidiaries has received written notice from any other party to a Material
Contract that such other party intends to terminate, not renew, or renegotiate the terms of any such Material Contract. Except
as set forth in Schedule 4.30, no event has occurred (with or without notice or lapse of time, or both) and is continuing that
would constitute a breach or default, or permit termination, modification, or acceleration under any credit facility or debt instrument,
to which the Company or any of its Subsidiaries is a party or by which any property or asset of the Company or any of its Subsidiaries
is bound or affected, and to the Company&rsquo;s Knowledge there exists no event or circumstance that would reasonably be expected
to give rise to any such breach, default, termination, modification, or acceleration, except as is subject to a waiver described
in the SEC Filings.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.31<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Transactions with Affiliates</U>. Except as disclosed in the SEC Filings or in connection
with the transactions contemplated by the Transaction Documents, none of the officers or directors of the Company and, to the Company&rsquo;s
Knowledge, none of the employees of the Company is presently a party to any material transaction with the Company or any of its
Subsidiaries (other than as holders of stock options and/or warrants, and for services as employees, officers and directors), including
any material contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of
real or personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or, to
the Company&rsquo;s Knowledge, any entity in which any officer, director, or any such employee has a substantial interest or is
an officer, director, trustee or partner.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.32<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Internal Controls</U>. The Company is in material compliance with the provisions
of the Sarbanes-Oxley Act of 2002 currently applicable to the Company. The Company and its Subsidiaries maintain a system of internal
accounting controls sufficient to provide reasonable assurance that (i)&nbsp;transactions are executed in accordance with management&rsquo;s
general or specific authorizations and (ii)&nbsp;transactions are recorded as necessary to permit preparation of financial statements
in conformity with GAAP and to maintain asset accountability. The Company has established disclosure controls and procedures (as
defined in 1934 Act Rules 13a-15(e) and 15d-15(e)) for the Company and designed such disclosure controls and procedures to ensure
that material information relating to the Company, including its Subsidiaries, is made known to the certifying officers by others
within those entities, particularly during the period in which the Company&rsquo;s most recently filed periodic report under the
1934 Act, as the case may be, is being prepared. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.33<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Investment Company</U>. The Company is not required to be registered as, and is
not an Affiliate of, and immediately following the Closing will not be required to register as, an &ldquo;investment company&rdquo;
within the meaning of the Investment Company Act of 1940, as amended.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.34<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Other Existing Investors</U>. Contemporaneous with the execution and delivery of
this Agreement, the Company is entering into the Other Purchase Agreements on the same terms and conditions as this Agreement (other
than with respect to the number of shares of Series A Preferred Stock purchased), and the Company has delivered to the Investors
true and complete copies of the Other Purchase Agreements.</FONT><BR CLEAR="ALL">
</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Representations and Warranties of the Investors</U>. Each of the Investors hereby
severally, and not jointly, represents and warrants to the Company that:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Organization and Existence</U>. Such Investor, is a validly existing corporation,
limited partnership or limited liability company and has all requisite corporate, partnership or limited liability company power
and authority.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Authorization; No Conflicts</U>. The execution, delivery and performance by such
Investor of the Transaction Documents to which such Investor is a party have been duly authorized and each will constitute the
valid and legally binding obligation of such Investor, enforceable against such Investor in accordance with their respective terms,
subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability, relating
to or affecting creditors&rsquo; rights generally. The execution, delivery and performance by the Investor of this Agreement and
each Transaction Document to which the Investor is a party and the consummation by the Investor of the transactions contemplated
hereby and thereby will not (i) result in a violation of the organizational documents of the Investor or (ii) conflict with, or
constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any
rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Investor
is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state
securities or &ldquo;blue sky&rdquo; laws) applicable to such Investor, except in the case of clause (ii) above, for such conflicts,
defaults or rights which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect
on the ability of such Investor to perform its obligations hereunder.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Purchase Entirely for Own Account</U>. The Securities to be received by such Investor
hereunder will be acquired for such Investor&rsquo;s own account, not as nominee or agent, and not with a view to the resale or
distribution of any part thereof in violation of the 1933 Act, and such Investor has no present intention of selling, granting
any participation in, or otherwise distributing the same in violation of the 1933 Act<U>&nbsp;</U>without prejudice, however, to
such Investor&rsquo;s right at all times to sell or otherwise dispose of all or any part of such Securities in compliance with
applicable federal and state securities laws. Nothing contained herein shall be deemed a representation or warranty by such Investor
to hold the Securities for any period of time. Neither such Investor nor any Affiliate of such Investors is a broker-dealer registered
with the SEC under the 1934 Act or an entity engaged in a business that would require it to be so registered.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Investment Experience</U>. Such Investor acknowledges that it can bear the economic
risk and complete loss of its investment in the Securities and has such knowledge and experience in financial or business matters
that it is capable of evaluating the merits and risks of the investment contemplated hereby.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Disclosure of Information</U>. Such Investor acknowledges that it has had the opportunity
to review the Transaction Documents (including all exhibits and schedules thereto, including <U>Schedule 5.5</U>) and the SEC Filings
and the risk factors set forth therein. Such Investor and its advisors, if any, has been furnished with all materials relating
to the business, finances and operations of the Company and materials relating to the offer and sale of the Securities which have
been requested by the Investor. Such Investor and its advisors, if any, have been afforded (i) the opportunity to ask such questions
as it has deemed necessary of, and to receive answers from, representatives of the Company</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">concerning the terms
and conditions of the offering of the Securities and the merits and risks of investing in the Securities; (ii) access to information
about the Company and its financial condition, results of operations, business, properties, management and prospects sufficient
to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information that the Company possesses
or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to
the investment. Such Investor understands that its investment in the Securities involves a high degree of risk. Such Investor has
sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision with respect
to its acquisition of the Securities. Such Investor is relying solely on its own accounting, legal and tax advisors, and not on
any statements of the Company or any of its agents or representatives, for such accounting, legal and tax advice with respect to
its acquisition of the Securities and the transactions contemplated by this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>No Governmental Review</U>. Such Investor understands that no United States federal
or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement of the Securities
or the fairness or suitability of the investment in the Securities nor have such authorities passed upon or endorsed the merits
of the offering of the Securities.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Restricted Securities</U>.&nbsp;&nbsp;Such Investor understands that the Securities
are characterized as &ldquo;restricted securities&rdquo; under the U.S. federal securities laws inasmuch as they are being acquired
from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities
may be resold without registration under the 1933 Act only in certain limited circumstances.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Legends</U>. It is understood that, except as provided below, certificates or other
instruments evidencing the Securities may bear the following or any similar legend:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(a)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">&ldquo;The securities represented hereby have not been registered with the Securities and
Exchange Commission or the securities commission of any state in reliance upon an exemption from registration under the Securities
Act of 1933, as amended, and, accordingly, may not be transferred unless (i) such securities have been registered for sale pursuant
to the Securities Act of 1933, as amended, (ii) such securities may be sold pursuant to Rule 144, or (iii) the Company has received
an opinion of counsel reasonably satisfactory to it that such transfer may lawfully be made without registration under the Securities
Act of 1933, as amended.&rdquo;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">If required by the authorities of any state in connection with the issuance of sale of the
Securities, the legend required by such state authority.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Accredited Investor / Qualified Purchaser</U>. Such Investor is, and on the date
the Conversion Shares are issued upon conversion of the Shares such Investor will be, an accredited investor as defined in Rule
501(a) of Regulation D, as amended, under the 1933 Act, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection
Act. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>No General Solicitation</U>. Such Investor did not learn of the investment in the
Securities as a result of any general solicitation or general advertising.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Brokers and Finders</U>. No Person will have, as a result of the transactions contemplated
by the Transaction Documents, any valid right, interest or claim against or upon the Company, any of its Subsidiaries or an Investor
for any commission, fee or other compensation pursuant to any agreement, arrangement or understanding entered into by or on behalf
of such Investor.</FONT><BR CLEAR="ALL">
</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Prohibited Transactions</U>. Since the earlier of (a) such time as such Investor
was first contacted by the Company or any other Person acting on behalf of the Company regarding the transactions contemplated
hereby or (b) thirty (30) days prior to the date hereof, neither such Investor nor any Affiliate of such Investor which (x) had
knowledge of the transactions contemplated hereby, (y) has or shares discretion relating to such Investor&rsquo;s investments or
trading or information concerning such Investor&rsquo;s investments, including in respect of the Securities, or (z) is subject
to such Investor&rsquo;s review or input concerning such Affiliate&rsquo;s investments or trading (collectively, &ldquo;<U>Trading
Affiliates</U>&rdquo;) has, directly or indirectly, effected or agreed to effect any short sale, whether or not against the box,
established any &ldquo;put equivalent position&rdquo; (as defined in Rule 16a-1(h) under the 1934 Act) with respect to the Common
Stock, granted any other right (including, without limitation, any put or call option) with respect to the Common Stock or with
respect to any security that includes, relates to or derived any significant part of its value from the Common Stock or otherwise
sought to hedge its position in the Securities (each, a &ldquo;<U>Prohibited Transaction</U>&rdquo;). Prior to the earliest to
occur of (i) the termination of this Agreement, (ii) the Effective Date or (iii) the Effectiveness Deadline, such Investor shall
not, and shall cause its Trading Affiliates not to, engage, directly or indirectly, in a Prohibited Transaction. Such Investor
acknowledges that the representations, warranties and covenants contained in this Section 5.11 are being made for the benefit of
the Investors as well as the Company and that each of the other Investors shall have an independent right to assert any claims
against such Investor arising out of any breach or violation of the provisions of this Section 5.11. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.13<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Affiliate Involvement in Offering; Trading Price</U>. Such Investor acknowledges
that it is aware of the following: (i) that one or more Persons that may be deemed Affiliates of the Company are purchasing Securities;
(ii) that such purchase by such Persons should not be taken as an indication of their views regarding the prospects of the Company
nor should such Investor infer from their participation that they possess non-public information suggesting favorable prospects
for the Company; and (iii) the Company&rsquo;s stock is thinly traded, and accordingly the trading price of the Company&rsquo;s
stock may not accurately reflect the current value of the Company.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.14<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Rule 506 Compliance</U>. Neither such Investor nor any of its directors, executive
officers, other officers that may serve as a director or officer of any company in which it invests, general partners or managing
members is subject to any Disqualification Event (as defined above), except for Disqualification Events covered by Rule 506(d)(2)(ii)
or (iii) under the 1933 Act and disclosed in writing in reasonable detail to the Company.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.15<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>The Agents</U>. Such Investor understands that each Agent has acted solely as an
agent of the Company in the placement of the Securities, and that none of the Agents makes any representation or warranty with
regard to the merits of this transaction or as to the accuracy of any information such Investor may have received in connection
therewith. Such Investor acknowledges that it has not relied on any information or advice furnished by or on behalf of the Agent.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">5.16<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Sufficient Funds</U>. &nbsp;Each Investor has sufficient cash on hand or undrawn
capital commitments to pay the Purchase Price and otherwise satisfy its obligations in connection with this Agreement and the transactions
contemplated hereby.</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Conditions to Closing</U>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">6.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Conditions to the Investors&rsquo; Obligations</U>. The obligation of each Investor
to purchase the Shares at the Closing is subject to the satisfaction, on or prior to the Closing Date, of the following conditions,
any of which may be waived by such Investor (as to itself only):</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(a)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Fundamental Representations shall be true and correct as of the Closing Date, except to
the extent any such representation or warranty expressly speaks as of an earlier date, in which case such Fundamental Representation
shall be true and correct as of such earlier date. The representations and warranties made by the Company in Section 4 hereof (other
than the Fundamental Representations) qualified as to &ldquo;materiality&rdquo; or &ldquo;Material Adverse Effect&rdquo; shall
be true and correct as of the Closing Date, except to the extent any such representation or warranty expressly speaks as of an
earlier date, in which case such representation or warranty shall be true and correct as of such earlier date, and, the representations
and warranties made by the Company in Section 4 hereof (other than the Fundamental Representations) not qualified as to &ldquo;materiality&rdquo;
or &ldquo;Material Adverse Effect&rdquo; shall be true and correct in all material respects as of the Closing Date, except to the
extent any such representation or warranty expressly speaks as of an earlier date, in which case such representation or warranty
shall be true and correct in all material respects as of such earlier date. The Company shall have performed in all material respects
all obligations and covenants herein required to be performed by it on or prior to the Closing Date.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Company shall have obtained any and all consents, permits, approvals, registrations and
waivers necessary or appropriate for consummation of the purchase and sale of the Securities and the consummation of the other
transactions contemplated by the Transaction Documents on the Closing Date, all of which shall be in full force and effect.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(c)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Company shall have executed and delivered the Registration Rights Agreement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(d)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Company shall have filed with the NYSE a supplementary listing application or similar
application for the listing or trading of the Conversion Shares on the NYSE, a copy of which shall have been provided to the Investors.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(e)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Certificate of Designations shall have been filed with the Registrar of Corporations and
shall be effective; a filed copy of the Certificate of Designations shall have been provided to the Investors.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(f)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">No judgment, writ, order, injunction, award or decree of or by any court, or judge, justice
or magistrate, including any bankruptcy court or judge, or any order of or by any governmental authority, shall have been issued,
and no action or proceeding shall have been instituted by any governmental authority, enjoining or preventing the consummation
of the transactions contemplated hereby or in the other Transaction Documents.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(g)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Company shall have delivered an officer&rsquo;s certificate, executed on behalf of the
Company by its Chief Executive Officer or its Chief Financial Officer, dated as of the Closing Date, certifying to the fulfillment
of the conditions specified in subsections (a) and (b) of this Section 6.1.</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(h)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Investors shall have received an opinion from each of Kramer Levin Naftalis &amp; Frankel
LLP and Reeder &amp; Simpson, P.C., dated as of the Closing Date, in the forms attached hereto as <U>Exhibit B-1</U> and <U>Exhibit
B-2</U>, respectively.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(i)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">No stop order or suspension of trading shall have been imposed by the NYSE, the SEC or any
other governmental or regulatory body with respect to public trading in the Common Stock.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(j)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Company shall have received, or shall receive substantially simultaneously with the Closing,
an amount not less than the difference between $125 million and the Investors&rsquo; Subscription Amount in gross proceeds in respect
of the sale of shares of Series A Preferred Stock.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(k)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The conditions precedent set forth in the Debt Commitment Letter shall be or have been satisfied
or waived and the Refinancing (as defined in the Debt Commitment Letter) for no less than $400 million shall have occurred, or
shall occur substantially simultaneously with the funding of the Investor&rsquo;s Subscription Amount, on the terms set forth in
the Debt Commitment Letter.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(l)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Hayfin Facility Agreement shall have been amended, or shall be amended substantially simultaneously
with the funding of the Investor&rsquo;s Subscription Amount, on the terms set forth in the Hayfin Term Sheet.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(m)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Other Purchase Agreements shall have substantially identical terms to the terms of this
Agreement, excluding the Subscription Amount and related terms. For the avoidance of doubt, the terms of such Other Purchase Agreements
and the securities issued pursuant thereto shall not be more favorable than the terms provided to the Investors under this Agreement
and the Series A Preferred Stock and the Common Stock received pursuant hereto.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(n)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Additional Private Placement, if consummated, shall not have been on terms more favorable
to any such Third Party Purchaser than the terms provided to the Investors under this Agreement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">6.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Conditions to Obligations of the Company</U>. The Company&rsquo;s obligation to
sell and issue the Shares at the Closing is subject to the satisfaction on or prior to the Closing Date of the following conditions,
any of which may be waived by the Company:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(a)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The representations and warranties made by the Investors in Section 5 hereof, other than the
representations and warranties contained in Sections 5.3, 5.4, 5.5, 5.6, 5.7, 5.8 and 5.9 (the &ldquo;<U>Investment Representations</U>&rdquo;),
shall be true and correct in all material respects as of the Closing Date. The Investment Representations shall be true and correct
in all respects as of the Closing Date. The Investors shall have performed in all material respects all obligations and covenants
herein required to be performed by them on or prior to the Closing Date.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Investors shall have executed and delivered the Registration Rights Agreement.</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(c)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">No judgment, writ, order, injunction, award or decree of or by any court, or judge, justice
or magistrate, including any bankruptcy court or judge, or any order of or by any governmental authority, shall have been issued,
and no action or proceeding shall have been instituted by any governmental authority, enjoining or preventing the consummation
of the transactions contemplated hereby or in the other Transaction Documents.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(d)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Company shall have received, or shall receive substantially simultaneously with the funding
of the Investors&rsquo; Subscription Amount, an aggregate of not less than $125 million (inclusive of the Investors&rsquo; Subscription
Amount) in gross proceeds in respect of the sale of shares of Series A Preferred Stock.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(e)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Refinancing (as defined in the Debt Commitment Letter) shall have occurred, or shall occur
substantially simultaneously with the funding of the Investors&rsquo; Subscription Amount, on the terms set forth in the Debt Commitment
Letter and otherwise in form and substance reasonably satisfactory to the Company.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(f)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Hayfin Facility Agreement shall have been amended, or shall be amended substantially simultaneously
with the funding of the Investors&rsquo; Subscription Amount, on the terms set forth in the Hayfin Term Sheet and otherwise in
form and substance reasonably satisfactory to the Company.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(g)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Investors shall have delivered an officer&rsquo;s certificate, executed on behalf of each
Investor by its Chief Executive Officer or its Chief Financial Officer or person performing similar functions, dated as of the
Closing Date, certifying to the fulfillment of the conditions specified in subsection (a) of this Section 6.2.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">6.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Termination of Obligations to Effect Closing; Effects</U>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(a)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The obligations of the Company, on the one hand, and the Investors, on the other hand, to
effect the Closing shall terminate as follows:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 2in"><FONT STYLE="color: #010000">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt">Upon the mutual written consent of the Company and the Investors;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 2in"><FONT STYLE="color: #010000">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt">By the Company if any of the conditions set forth in Section 6.2 shall have become
incapable of fulfillment, and shall not have been waived by the Company;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 2in"><FONT STYLE="color: #010000">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt">By an Investor (with respect to itself only) if any of the conditions set forth in
Section 6.1 shall have become incapable of fulfillment, and shall not have been waived by the Investor; or</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 2in"><FONT STYLE="color: #010000">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt">By either the Company or any Investor (with respect to itself only) if the Closing
has not occurred on or prior to November 15, 2016;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">provided, however, that, except in the
case of clause (ii) or (iii) above, the party seeking to terminate its obligation to effect the Closing shall not then be in breach
of any of its representations, warranties, covenants or agreements contained in this Agreement or the other Transaction Documents
if such breach has resulted in the circumstances giving rise to such party&rsquo;s seeking to terminate its obligation to effect
the Closing.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">In the event of termination by any Investor of its obligations to effect the Closing pursuant
to Section 6.3(a)(iii), written notice thereof shall promptly be given to the other Investors by the Company and the other Investors
shall have the right to terminate their obligations to effect the Closing upon written notice to the Company and the other Investors.
Nothing in this Section 6.3 shall be deemed to release any party from any liability for any breach by such party of the terms and
provisions of this Agreement or the other Transaction Documents or to impair the right of any party to compel specific performance
by any other party of its obligations under this Agreement or the other Transaction Documents.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Covenants and Agreements</U>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">7.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Operation in the Ordinary Course</U>. Except as set forth in <U>Schedule 7.1</U>,
as contemplated by the Debt Commitment Letter, or as has been approved by the Company&rsquo;s Board of Directors prior to the execution
hereof, between the date of this Agreement and the Closing or the earlier termination of this Agreement in accordance with Section
6.3, and except for what is expressly provided for in the Transaction Documents or what may be authorized by the Investors, the
Company shall, and shall cause each of its Subsidiaries, to (a) use its respective commercially reasonable efforts to maintain
its existence in good standing pursuant to applicable law, (b) conduct its business and operations in the ordinary course of business
and (c) use its reasonable best efforts to (i) preserve intact its material assets, properties, contracts or other legally binding
understandings, licenses and business organizations; (ii) keep available the services of its current officers and key employees;
and (iii) preserve the current relationships with charterers, customers, third-party vessel managers, suppliers, distributors,
lessors, licensors, licensees, creditors, contractors, governmental or regulatory authorities and other Persons with whom the Company
or any of its Subsidiaries has business relations. Except as set forth in <U>Schedule 7.1</U>, as contemplated by the Debt Commitment
Letter, or as has been approved by the Company&rsquo;s Board of Directors prior to the execution hereof, between the date of this
Agreement and the Closing or the earlier termination of this Agreement in accordance with Section 6.3, and except for what is expressly
provided for in the Transaction Documents or what may be authorized by the Investors, the Company shall not, and shall cause each
of its Subsidiaries not, to (a) declare, set aside or pay any dividend or make any other distribution in respect of any of the
equity securities of the Company or any non-wholly owned Subsidiary of the Company, or any direct or indirect redemption, purchase,
or other acquisition of any of such equity securities by the Company or any non-wholly owned Subsidiary of the Company other than
with respect to the cashless exercise of warrants outstanding on the date hereof, (b) incur, assume or guarantee any indebtedness
for borrowed money other than indebtedness among the Company and any of its Subsidiaries or in the ordinary course of business
(other than as contemplated by the Debt Commitment Letter), (c) issue, sell or otherwise dispose any equity securities of the Company
or any non-wholly owned Subsidiary except pursuant to its 2014 Management Incentive Plan or its 2015 Equity Incentive Plan or upon
the exercise or settlement of awards made under either such plan, (d) change any terms of compensation of any executive officers
of the Company or enter into any transaction required to be disclosed under Item 404 of Regulation S-K promulgated by the SEC without
the approval of the Company&rsquo;s Board of Directors of a committee thereof comprised solely of independent directors or (e)
effect any Deemed Liquidation Event. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">7.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Reservation of Common Stock</U>. The Company shall at all times reserve and keep
available out of its authorized but unissued shares of Common Stock, solely for the purpose of providing for the conversion of
the Shares and the Commitment Fee, such number of shares of Common Stock as shall from time to time equal the number of shares
sufficient to permit the conversion of the Shares and the Commitment Fee issued pursuant to this Agreement in accordance with their
respective terms.</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">7.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>[Intentionally omitted]</U>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">7.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>No Conflicting Agreements</U>. The Company will not take any action, enter into
any agreement or make any commitment that would conflict in any material respect with the Company&rsquo;s obligations to the Investors
under the Transaction Documents.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">7.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Listing of Underlying Shares and Related Matters</U>. The Company shall take commercially
reasonable efforts to cause the Conversion Shares to be approved for listing or trading on the NYSE or such other exchange or market
where the Common Stock is trading or expected to trade no later than ninety (90) days after the Closing Date. Further, if the Company
applies to have its Common Stock or other securities traded on any other principal stock exchange or market, it shall include in
such application the Conversion Shares and will take such other action as is necessary to cause such Common Stock to be so listed.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">7.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>[Intentionally omitted]</U>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">7.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Subsequent Equity Sales</U>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(a)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">From the date hereof until the date of conversion of the Shares, without the consent of the
Investors, neither the Company nor any of its Subsidiaries shall issue shares of preferred stock, Common Stock or Common Stock
Equivalents. Notwithstanding the foregoing, the provisions of this Section 7.7(a) shall not apply to (i) the issuance of the Securities,
(ii) the issuance of Series A Preferred Stock pursuant to the Other Purchase Agreements and in the Additional Private Placement
or any Common Stock issuable upon the conversion thereof, (iii) the issuance of Common Stock or Common Stock Equivalents upon the
conversion, settlement or exercise of any securities of the Company or any of its Subsidiaries outstanding on the date hereof,
provided that the terms of such security are not amended after the date hereof to decrease the exercise price or increase the Common
Stock or Common Stock Equivalents receivable upon the exercise, conversion or exchange thereof, (iv) the issuance of Common Stock
or Common Stock Equivalents in connection with the acquisition by the Company of all or substantially all of the assets or equity
interests of another business entity in a transaction approved by the Board of Directors of the Company, (v) the issuance of any
Common Stock or Common Stock Equivalents pursuant to any Company equity incentive plan in place as of the date hereof or approved
by the Company&rsquo;s stockholders or (vi) the issuance of any Common Stock or Common Stock Equivalents in a transaction or series
of related transactions, for the primary purpose of raising capital, approved by the Board of Directors of the Company and consented
to by the Investors not participating in such transaction or transactions who beneficially own (within the meaning of Rule 13d-3
promulgated under the 1934 Act) a majority of the Shares issued pursuant hereto (excluding the Shares held by any Investors participating
in such transaction or transactions). For the avoidance of doubt, any sale and issuance of Series A Preferred Stock to purchasers
in the Additional Private Placement shall not be on terms, including the price paid for such Series A Preferred Stock, more favorable
to any such purchaser than the terms provided to the Investors under this Agreement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Company shall not, and shall use its commercially reasonable efforts to ensure that no
Affiliate of the Company shall, sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security
(as defined in Section 2 of the 1933 Act) that will be integrated with the offer or sale of the Securities in a manner that would
require the registration under the 1933 Act of the sale of the Securities to the Investors, or that will be integrated with the
offer or sale of the Securities for purposes of the rules and regulations of any trading market such that it would require stockholder
approval prior to the closing of such other transaction unless stockholder approval is obtained before the closing of such subsequent
transaction.</FONT><BR CLEAR="ALL">
</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">7.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Equal Treatment of Investors</U>. No consideration shall be offered or paid to any
Person to amend or consent to a waiver or modification of any provision of any of the Transaction Documents unless the same consideration
is also offered to all of the parties to such Transaction Documents, and no consideration shall be offered or paid to any Other
Existing Investor to amend or consent to a waiver or modification of any provision of the purchase agreements entered into simultaneously
with this Agreement (or the other transaction documents contemplated thereby) unless the same consideration is also offered to
the Investors. For clarification purposes, this provision constitutes a separate right granted to each Investor and each Other
Existing Investor by the Company and negotiated separately by each Investor, and is intended for the Company to treat the Investors
and the Other Existing Investors as a class and shall not in any way be construed as the Investors acting in concert or as a group
with the Other Existing Investors with respect to the purchase, disposition or voting of Securities or otherwise.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">7.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Proxy Statement; Stockholders Meeting</U>. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(a)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <FONT STYLE="font-size: 11pt">Promptly following the execution and delivery of this Agreement the Company shall take all
action necessary to call a meeting of its stockholders (the &ldquo;<U>Stockholders Meeting</U>&rdquo;), which shall occur not later
than sixty (60) days following the Closing Date (the &ldquo;<U>Stockholders Meeting Deadline</U>&rdquo;), for the purpose of seeking
approval of the Company&rsquo;s stockholders for the issuance of shares of Common Stock upon conversion of the Series A Preferred
Stock issued pursuant to this Agreement or the other Purchase Agreements or in the Additional Private Placement (the &ldquo;<U>Proposal</U>&rdquo;)
and the increase of the size of the Company&rsquo;s Board of Directors from eight (8) members to nine (9) members (the &ldquo;<U>Board
Increase</U>&rdquo;). In the event the Proposal or the Board Increase is not approved by the Company&rsquo;s stockholders at the
Stockholders Meeting, the Company shall take all action necessary to call up to three (3) additional meetings of its stockholders
(each a &ldquo;<U>Subsequent Stockholders Meeting</U>&rdquo;) for the purpose of seeking approval of the Proposal or the Board
Increase as applicable, to be held promptly following the completion of the Stockholders Meeting and in no event more than one
year after the Closing Date to the extent reasonably practicable. In connection with the Stockholders Meeting and, if applicable,
each Subsequent Stockholders Meeting, the Company will prepare and file with the SEC proxy materials pursuant to and in compliance
with Section 14(a) of the 1934 Act (including a proxy statement and form of proxy) for use at the Stockholders Meeting and, if
applicable, each Subsequent Stockholders Meeting, and, after receiving and responding to any comments of the SEC thereon, shall
mail such proxy materials (or, if permitted, notice of the availability of such proxy materials) to the stockholders of the Company.
Each Investor shall promptly furnish in writing to the Company such information relating to such Investor and its investment in
the Company as the Company may reasonably request for inclusion in each proxy statement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Subject to their fiduciary obligations under applicable law (as determined in good faith by
the Company&rsquo;s Board of Directors after consultation with the Company&rsquo;s outside counsel), the Company&rsquo;s Board
of Directors shall recommend to the Company&rsquo;s stockholders that the stockholders vote in favor of the Proposal and the Board
Increase (each a &ldquo;<U>Company Board Recommendation</U>&rdquo;) at the Stockholders Meeting and, if applicable, each Subsequent
Stockholders Meeting, unless the Board of Directors shall have modified, amended or withdrawn such Company Board Recommendation
pursuant to the provisions of the immediately succeeding sentence. The Company covenants that the Board of Directors of the Company
shall not modify, amend or withdraw either Company Board Recommendation unless the Board of Directors (after consultation with
the</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Company&rsquo;s outside
counsel) shall determine in the good faith exercise of its business judgment that maintaining such Company Board Recommendation
would be inconsistent with its fiduciary duty to the Company&rsquo;s stockholders. Whether or not the Company&rsquo;s Board of
Directors modifies, amends or withdraws either Company Board Recommendation pursuant to the immediately preceding sentence, the
Company shall in accordance with the Marshall Islands Business Corporations Act and the provisions of its Second Amended and Restated
Articles of Incorporation, as amended, or its Amended and Restated Bylaws, (i) take all action reasonably necessary to convene
the Stockholders Meeting and, if necessary, each Subsequent Stockholders Meeting as promptly as practicable, but no later than
the Stockholders Meeting Deadline with respect to the Stockholders Meeting and as soon as practicable with respect to each Subsequent
Stockholders Meeting, to consider and vote upon the approval of the Proposal and the Board Increase and (ii) submit the Proposal
and the Board Increase at the Stockholders Meeting or, if applicable, each Subsequent Stockholders Meeting to the stockholders
of the Company for their approval.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(c)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">From the date hereof until termination of this Agreement pursuant to Section 6.3 hereof (the
&ldquo;<U>Term</U>&rdquo;), at the Stockholders Meeting and, if applicable, each Subsequent Stockholders Meeting, however called
and at any adjournment or postponement thereof, and in any action by consent of the stockholders of the Company, each Investor
and its Affiliates owning any shares of Common Stock shall (A) appear at such meeting or otherwise cause all shares of Common Stock
held by it to be counted as present thereat for purposes of establishing a quorum and (B) vote (or cause to be voted) all shares
of Common Stock held by it in favor of the Proposal and such other matters as may be necessary or advisable to consummate the transactions
contemplated by the Purchase Agreement; provided that no Investor or its Affiliates shall be under any obligation hereunder with
respect to any vote regarding the Board Increase. During the term of this Agreement, no such Investor or its Affiliates shall transfer
any shares of Common Stock prior to shareholder approval of the Proposal unless the transferee has agreed for the benefit of the
Company to be bound by the provisions of this Section 7.9(c).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">7.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>[Intentionally omitted]</U>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">7.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Additional Private Placement</U>. Following the entry by the parties into this Agreement,
the Company shall conduct a private placement of the Series A Preferred Stock (the &ldquo;<U>Additional Private Placement</U>&rdquo;),
and will use commercially reasonable efforts to obtain binding commitments from third parties for the purchase of not more than
Thirty Eight Million Six Hundred Thousand Dollars ($38,600,000) in Series A Preferred Stock in such private placement; <U>provided</U>
that such Additional Private Placement shall not be on terms more favorable to any such Third Party Purchaser than the terms provided
to the Investors under this Agreement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">7.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Investor Director</U>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(a)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">From and after the Closing until the conversion of the Shares, and thereafter and until the
Investors no longer beneficially own (within the meaning of Rule 13d-3 promulgated under the 1934 Act) at least 12.5% of the total
outstanding Common Stock at any time (the &ldquo;<U>Nomination Right Termination</U>&rdquo;), at each annual or special meeting
of the stockholders of the Company at which directors are to be elected to the Board of Directors, the Company (subject to applicable
law, including any fiduciary duties of the Board of Directors) shall nominate and use its commercially reasonable efforts (which
shall include inserting in any proxy statement used by the Company to solicit the vote of its stockholders in connection with any
such meeting the</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">recommendation of
the Board of Directors that stockholders of the Company vote in favor of each Investor Designee (defined below)) to cause the election
to the Board of Directors of a slate of directors that includes one (1) individual designated in writing by the Investors for nomination
for election or for appointment to the Board of Directors and approved by the Board of Directors or any responsible committee thereof
(which approval shall not be unreasonably withheld) (any such individual being an &ldquo;<U>Investor Designee</U>&rdquo;); except
that if the Investors beneficially own at least 25% of the total outstanding Common Stock and the size of the Board has been increased
to nine (9) members, the number of Investor Designees that the Investors shall be entitled to designate shall be two (2). To the
extent that the Company&rsquo;s Board of Directors or any responsible committee thereof views it as necessary or desirable that
any second Investor Designee of the Investors be independent under the applicable rules of any exchange on which the Company&rsquo;s
capital stock is listed or for regulatory compliance purposes, the Investors shall comply with the request of the Company to designate
a second Investor Designee that would be independent under such rules or regulations or, if such second Investor Designee has already
been elected or appointed to the Company&rsquo;s Board of Directors (an &ldquo;<U>Investor Director</U>&rdquo;), shall secure the
resignation of such Investor Director and designate an Investor Designee who would be independent under such rules or regulations.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Investors shall notify the Company of the identity of any proposed Investor Designee,
in writing, at or before the time such information is reasonably requested by the Board of Directors or any responsible committee
thereof for inclusion in a proxy statement for a meeting of stockholders, and shall promptly furnish in writing all information
about the Investors and such proposed Investor Designee as shall be reasonably requested by the Board of Directors or any responsible
committee thereof (including, at a minimum, any information regarding such proposed Investor Designee to the extent required by
applicable securities laws or for any other person nominated for election to the Board of Directors).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(c)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Until the Nomination Right Termination and subject to Sections 7.11(a) and (b), in the event
of (i)&nbsp;the death, disability, removal or resignation of an Investor Director, the Board of Directors (subject to applicable
law, including any fiduciary duties of the Board of Directors) shall promptly appoint as a replacement Investor Director the Investor
Designee designated by the Investors to fill the resulting vacancy, or (ii)&nbsp;the failure of an Investor Designee to be elected
to the Board of Directors at any annual or special meeting of the stockholders of the Company at which such Investor Designee stood
for election but was nevertheless not elected (such Investor Designee, an &ldquo;<U>Investor Specified Designee</U>&rdquo;), the
Board of Directors (subject to applicable law, including any fiduciary duties of the Board of Directors) shall promptly appoint
another Investor Designee designated by the Investors to serve in lieu of such Investor Specified Designee as an Investor Director
during the term that such Investor Specified Designee would have served had such Investor Specified Designee been elected at such
meeting of the stockholders of the Company, and, in each case of clause (i) and clause (ii), such individual shall then be deemed
an Investor Director for all purposes hereunder.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(d)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The Company shall at all times provide each Investor Director (in his or her capacity as a
member of the Board of Directors) with the same rights to indemnification and exculpation that it provides to the other members
of the Board of Directors. The Company acknowledges and agrees that any such obligations to indemnify or advance expenses to each
Investor Director, in his or her capacity as such, for the matters covered by such obligations, shall be the primary source of
indemnification and advancement of such Investor Director in connection therewith, and any obligation on the part of any Investor
under any indemnification agreement to indemnify or advance</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">expenses to such Investor
Director shall be secondary to the Company&rsquo;s obligation and shall be reduced by any amount that such Investor Director may
collect as indemnification or advancement from the Company. In the event that the Company fails to indemnify or advance expenses
to such Investor Director as required by such indemnification obligations and this Agreement (such unpaid amounts, the &ldquo;<U>Unpaid
Indemnitee Amounts</U>&rdquo;), and any Investor makes any payment to such Investor Director in respect of indemnification or advancement
of expenses on account of such Unpaid Indemnitee Amounts, such Investor shall be subrogated to the rights of such Investor Director
under this Agreement in respect of such Unpaid Indemnitee Amounts.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(e)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The first Investor Director shall be Bao D. Truong, and the second Investor Director shall
be Kevin Mahony, subject to the last sentence of Section 7.12(a).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">7.13<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Prior Registration Rights Agreement</U>. The Investors shall cause funds and/or
related entities managed by Affiliates of Centerbridge Partners, L.P. that are parties to the Prior Registration Rights Agreement
to give their reasonable consent to conform terms of the Prior Registration Rights Agreement to the Registration Rights Agreement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Survival and Indemnification</U>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">8.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Survival</U>. The representations, warranties, covenants and agreements contained
in this Agreement shall survive the Closing of the transactions contemplated by this Agreement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">8.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Indemnification</U>. The Company agrees to indemnify and hold harmless each Investor
and its Affiliates and their respective directors, officers, trustees, members, managers, employees and agents, and their respective
successors and assigns, from and against any and all losses, claims, damages, liabilities and expenses (including without limitation
reasonable attorney fees and disbursements and other expenses incurred in connection with investigating, preparing or defending
any action, claim or proceeding, pending or threatened and the costs of enforcement thereof) (collectively, &ldquo;<U>Losses</U>&rdquo;)
to which such Person may become subject as a result of any breach of representation, warranty, covenant or agreement made by or
to be performed on the part of the Company under the Transaction Documents.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">8.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Conduct of Indemnification Proceedings</U>. Any Person entitled to indemnification
hereunder shall (i) give prompt notice to the indemnifying party of any claim with respect to which it seeks indemnification and
(ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified
party; <U>provided</U> that any Person entitled to indemnification hereunder shall have the right to employ separate counsel and
to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such Person unless
(a) the indemnifying party has agreed to pay such fees or expenses, or (b) the indemnifying party shall have failed to assume the
defense of such claim and employ counsel reasonably satisfactory to such Person or (c) in the reasonable judgment of any such Person,
based upon written advice of its counsel, a conflict of interest exists between such Person and the indemnifying party with respect
to such claims (in which case, if the Person notifies the indemnifying party in writing that such Person elects to employ separate
counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of such
claim on behalf of such Person); and <U>provided</U>, <U>further</U>, that the failure of any indemnified party to give notice
as provided herein shall not relieve the indemnifying party of its obligations hereunder, except to the extent that such failure
to give notice shall materially</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">adversely affect the indemnifying party
in the defense of any such claim or litigation. It is understood that the indemnifying party shall not, in connection with any
proceeding in the same jurisdiction, be liable for fees or expenses of more than one separate firm of attorneys at any time for
all such indemnified parties. No indemnifying party will, except with the consent of the indemnified party, consent to entry of
any judgment or enter into any settlement that does not include as an unconditional term thereof the giving by the claimant or
plaintiff to such indemnified party of a release from all liability in respect of such claim or litigation and, in the event an
indemnified party controls the defense of any claim under this Section 8.3, such indemnified party may not settle such claim without
the Company&rsquo;s prior written consent, which will not be unreasonably withheld.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Miscellaneous</U>.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">9.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Successors and Assigns</U>. This Agreement may not be assigned by a party hereto
without the prior written consent of the Company or the Investors, as applicable, provided, however, that an Investor may assign
its rights and delegate its duties hereunder in whole or in part to an Affiliate or to a third party acquiring some or all of its
Securities in a transaction complying with applicable securities laws without the prior written consent of the Company or the other
Investors. The provisions of this Agreement shall inure to the benefit of and be binding upon the respective permitted successors
and assigns of the parties. Without limiting the generality of the foregoing, in the event that the Company is a party to a merger,
consolidation, share exchange or similar business combination transaction in which the Common Stock is converted into the equity
securities of another Person, from and after the effective time of such transaction, such Person shall, by virtue of such transaction,
be deemed to have assumed the obligations of the Company hereunder, the term &ldquo;Company&rdquo; shall be deemed to refer to
such Person and the term &ldquo;Shares&rdquo; shall be deemed to refer to the securities received by the Investors in connection
with such transaction. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties
hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this
Agreement, except as expressly provided in this Agreement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">9.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Counterparts</U>. This Agreement may be executed in two or more counterparts, each
of which shall be deemed an original, but all of which together shall constitute one and the same instrument. In the event that
any signature is delivered by facsimile transmission or by e-mail delivery of a &ldquo;.pdf&rdquo; format data file, such signature
shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same
force and effect as if such facsimile or &ldquo;.pdf&rdquo; signature page were an original thereof.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">9.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Titles and Subtitles</U>. The titles and subtitles used in this Agreement are used
for convenience only and are not to be considered in construing or interpreting this Agreement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">9.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Notices</U>. Unless otherwise provided, any notice required or permitted under this
Agreement shall be given in writing and shall be deemed effectively given as hereinafter described (i) if given by personal delivery,
then such notice shall be deemed given upon such delivery, (ii) if given by facsimile, then such notice shall be deemed given upon
receipt of confirmation of complete transmittal, (iii) if given by mail, then such notice shall be deemed given upon the earlier
of (A) receipt of such notice by the recipient or (B) three days after such notice is deposited in first class mail, postage prepaid,
and (iv) if given by an internationally recognized overnight air courier, then such notice shall be deemed given one Business Day
after delivery to such carrier. All notices shall be addressed to the party to be notified at the address as follows, or at such
other address as such party may designate by ten days&rsquo; advance written notice to the other party:</FONT><BR CLEAR="ALL">
</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in">If to the Company:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify">Genco Shipping &amp; Trading Limited</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify">299 Park Avenue, 12th Floor</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify">New York, NY 10171</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify">Attention: John C. Wobensmith</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in; text-align: justify">Fax: (646) 443-8551</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in">With a copy to:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 2in">Kramer Levin Naftalis &amp; Frankel LLP</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 2in">1177 Avenue of the Americas</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify">New York, NY 10036</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify">Attention: Thomas E. Molner</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in; text-align: justify">Fax: (212) 715-8000</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in">If to the Investors:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify">to the addresses set forth on
Schedule 1 hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">9.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Expenses</U>. The parties hereto shall pay their own costs and expenses in connection
herewith, except that the Company shall reimburse the Investors for their reasonable and documented legal fees and related costs
in connection with the transactions contemplated hereby up to a maximum of $50,000 within a reasonable time following the Closing.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">9.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Amendments and Waivers</U>. Any term of this Agreement may be amended and the observance
of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively),
only with the written consent of the Company and the Investors. Any amendment or waiver effected in accordance with this paragraph
shall be binding upon each holder of any Securities purchased under this Agreement at the time outstanding, each future holder
of all such Securities, and the Company.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">9.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Publicity</U>. Except as set forth below, no public release or announcement concerning
the transactions contemplated hereby shall be issued by the Company or the Investors without the prior written consent of the Company
(in the case of a release or announcement by the Investors) or the Investors (in the case of a release or announcement by the Company)
(which consents shall not be unreasonably withheld), except as such release or announcement may be required by law or the applicable
rules or regulations of any securities exchange or securities market, in which case the Company or the Investors, as the case may
be, shall allow the Investors or the Company, as applicable, to the extent reasonably practicable in the circumstances, reasonable
time to comment on such release or announcement in advance of such issuance.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">9.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Severability</U>. Any provision of this Agreement that 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 but shall be interpreted as if it were written so as to be enforceable to the maximum
extent permitted by applicable law, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. To the extent permitted by applicable law, the parties hereby waive any
provision of law which renders any provision hereof prohibited or unenforceable in any respect.</FONT><BR CLEAR="ALL">
</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">9.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Entire Agreement</U>. This Agreement, including the Exhibits and the Disclosure
Schedules, and the other Transaction Documents constitute the entire agreement among the parties hereof with respect to the subject
matter hereof and thereof and supersede all prior agreements and understandings, both oral and written, between the parties with
respect to the subject matter hereof and thereof.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">9.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Further Assurances</U>. The parties shall execute and deliver all such further instruments
and documents and take all such other actions as may reasonably be required to carry out the transactions contemplated hereby and
to evidence the fulfillment of the agreements herein contained.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">9.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Governing Law; Consent to Jurisdiction; Waiver of Jury Trial</U>. This Agreement
shall be governed by, and construed in accordance with, the internal laws of the State of New York without regard to the choice
of law principles thereof. Each of the parties hereto irrevocably submits to the exclusive jurisdiction of the courts of the State
of New York located in New York County and the United States District Court for the Southern District of New York for the purpose
of any suit, action, proceeding or judgment relating to or arising out of this Agreement and the transactions contemplated hereby.
Service of process in connection with any such suit, action or proceeding may be served on each party hereto anywhere in the world
by the same methods as are specified for the giving of notices under this Agreement. Each of the parties hereto irrevocably consents
to the jurisdiction of any such court in any such suit, action or proceeding and to the laying of venue in such court. Each party
hereto irrevocably waives any objection to the laying of venue of any such suit, action or proceeding brought in such courts and
irrevocably waives any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient
forum. <B>EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS AGREEMENT
AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">9.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Independent Nature of Investors&rsquo; Obligations and Rights</U>. The obligations
of each Investor under any Transaction Document are several and not joint with the obligations of any other Investor, and no Investor
shall be responsible in any way for the performance of the obligations of any other Investor under any Transaction Document. The
decision of each Investor to purchase Securities pursuant to the Transaction Documents has been made by such Investor independently
of any other Investor. Nothing contained herein or in any Transaction Document, and no action taken by any Investor pursuant thereto,
shall be deemed to constitute the Investors as a partnership, an association, a joint venture or any other kind of entity, or create
a presumption that the Investors are in any way acting in concert or as a group with respect to such obligations or the transactions
contemplated by the Transaction Documents. Each Investor acknowledges that no other Investor has acted as agent for such Investor
in connection with making its investment hereunder and that no Investor will be acting as agent of such Investor in connection
with monitoring its investment in the Securities or enforcing its rights under the Transaction Documents. Each Investor shall be
entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement
or out of the other Transaction Documents, and it shall not be necessary for any other Investor to be joined as an additional party
in any proceeding for such purpose. The Company acknowledges that each of the Investors and the Other Existing Investors has been
provided with the same transaction documents for the purpose of closing a transaction with multiple Persons and not because it
was required or requested to do so by any Person.</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">9.13<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Reliance by and Exculpation of Agents</U>. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(a)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Each Investor agrees and acknowledges that (i) none of the Agents has made, or will make,
any representations or warranties with respect to the Company or the offer and sale of the Shares, and such Investor will not rely
on any statements made by any Agent, orally or in writing, to the contrary; (ii) it will be responsible for conducting its own
due diligence investigation with respect to the Company and the offer and sale of the Shares, (iii) it will be purchasing Shares
based on the results of its own due diligence investigation of the Company, (iv) it has negotiated the offer and sale of the Shares
directly with the Company, and the Agents will not be responsible for the ultimate success of any such investment and (v) the decision
to invest in the Company will involve a significant degree of risk, including a risk of total loss of such investment. Each Investor
further represents and warrants to each Agent that it, including any fund or funds that it manages or advises that participates
in the offer and sale of the Shares, is permitted under its constitutive documents (including, without limitation, all limited
partnership agreements, charters, bylaws, limited liability company agreements, all applicable side letters with investors, and
similar documents) to make investments of the type contemplated by this Agreement. In light of the foregoing, to the fullest extent
permitted by law, each Investor releases each Agent, its employees, officers, representatives and Affiliates from any liability
with respect to such Investor&rsquo;s participation in the offer and sale of the Shares including, but not limited to, any improper
payment made in accordance with the information provided by the Company. This Section 9.13 shall survive any termination of this
Agreement. The Agents have introduced each Investor to the Company in reliance on the Investor&rsquo;s understanding and agreement
to this Section 9.13.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(b)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">The parties agree and acknowledge that each Agent may rely on the representations, warranties,
agreements and covenants of the Company contained in this Agreement and may rely on the representations and warranties of the respective
Investors contained in this Agreement as if such representations, warranties, agreements and covenants, as applicable, were made
directly to such Agent. The parties further agree each Agent may rely on the legal opinions to be delivered pursuant to Section
6.1(i) hereof.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 11pt; color: #010000">(c)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #010000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Each Investor agrees, for the express benefit of the Agents, that: no Agent, nor any of its
Affiliates or any of its representatives (1) has any duties or obligations with respect to the transactions contemplated hereby
other than those specifically set forth herein or in the engagement letter, to be entered into between the Company and the Agents;
(2) shall be liable for any improper payment made in accordance with the information provided by the Company; (3) makes any representation
or warranty, or has any responsibilities as to the validity, accuracy, value or genuineness of any information, certificates or
documentation delivered by or on behalf of the Company pursuant to this Agreement or the Transaction Documents; or (4) shall be
liable to such Investor (x) for any action taken, suffered or omitted by any of them in good faith and reasonably believed to be
authorized or within the discretion or rights or powers conferred upon it by this Agreement or any Transaction Document or (y)
for anything which any of them may do or refrain from doing in connection with this Agreement or any Transaction Document, except
for such Agent&rsquo;s own gross negligence, willful misconduct or bad faith. Jefferies, its Affiliates and its representatives
shall be entitled to be indemnified by the Company for acting as placement agent hereunder pursuant the indemnification provisions
set forth in the Engagement Letter.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">9.14<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 11pt"><U>Non-Recourse</U>. All actions, obligations, losses or causes of action (whether
in tort, contract or otherwise) that may be based upon, in respect of, arise under, out or by reason of, be connected with, or
relate in any manner to (a) this Agreement and/or any other Transaction Document, (b) the negotiation, execution or performance
of this Agreement and/or any other Transaction Document, (c) any breach or violation of this Agreement and/or any other Transaction
Document and (d) any failure of the transactions contemplated hereby or in the other Transaction Documents to be consummated, in
each case, may only be made against (and are those solely of) the Persons that are expressly named as parties hereto or thereto
to the extent set forth herein and therein. In furtherance and not in limitation of the foregoing, and notwithstanding anything
contained in this Agreement or the other Transaction Documents or otherwise to the contrary, each party covenants, agrees and acknowledges,
on behalf of itself and its Affiliates and its and their respective representatives, that no recourse under this Agreement or any
other Transaction Document shall be had against (i) any past, present or future direct or indirect equity holder, controlling person,
Affiliate, member, manager, general or limited partner, stockholder, incorporator, representative or assignee of any party hereto
or thereto (unless such Person is also a party) or (ii) any past, present or future direct or indirect equity holder, controlling
person, Affiliate, member, manager, general or limited partner, stockholder, incorporator, representative or assignee of any of
the foregoing (unless such Person is also a party), and none of the foregoing shall have any liability hereunder or thereunder
(in each case, whether in tort, contract or otherwise), it being expressly agreed and acknowledged that no personal liability or
losses whatsoever shall attach to, be imposed on or otherwise be incurred by any of the aforementioned, as such, arising out of,
in connection with or related in any manner to the items in the immediately preceding clauses (a) through (d).</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">[signature page follows] &nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the
parties have executed this Purchase Agreement or caused their duly authorized officers to execute this Purchase Agreement as of
the date first above written.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD><FONT STYLE="font-size: 11pt">The Company: </FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt; text-transform: uppercase"><B>Genco Shipping &amp; Trading Limited </B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 37%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 48%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 11pt">By: </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt">&nbsp;/s/ Apostolos Zafolias</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">Name: Apostolos Zafolias</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">Title: Chief Financial Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">[SIGNATURE PAGE TO <FONT STYLE="text-transform: uppercase">Genco
Shipping &amp; Trading Limited</FONT> PURCHASE AGREEMENT]</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">IN WITNESS WHEREOF, the parties have executed
this Purchase Agreement or caused their duly authorized officers to execute this Purchase Agreement as of the date first above
written.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD><FONT STYLE="font-size: 11pt">The Investors: </FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">Investor Name </FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 38%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 24%">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;<FONT STYLE="color: #212121">Centerbridge Capital Partners
        II (Cayman), L.P.</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 24%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;<FONT STYLE="color: #212121">Centerbridge Capital Partners
        SBS II (Cayman), L.P.</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: #212121">Centerbridge Credit Partners</FONT><FONT STYLE="color: #3F3F3F">,
        </FONT><FONT STYLE="color: #212121">L.P.</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; color: #212121">Centerbridge Credit Partners Master, L.P.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; color: #212121">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; color: #212121">Center bridge Special Credit Partners II, L.P.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; color: #212121">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 11pt; color: #212121">Centerbridge Special Credit Partners II AIV IV (Cayman), L.P</FONT><FONT STYLE="font-size: 11pt; color: #3F3F3F">., </FONT><FONT STYLE="font-size: 11pt; color: #212121">in their individual capacities as stockholders</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 11pt; color: black">By: </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 11pt; color: black">&nbsp;/s/ Bao Truong</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt; color: black">Name: Bao Truong</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt; color: black">Title: Authorized Signatory</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">[SIGNATURE PAGE TO <FONT STYLE="text-transform: uppercase">Genco
Shipping &amp; Trading Limited </FONT>PURCHASE AGREEMENT]</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SCHEDULE 1</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INVESTOR COMMITMENTS</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt"></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT A</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CERTIFICATE OF DESIGNATIONS</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">CERTIFICATE OF DESIGNATIONS OF RIGHTS,
PREFERENCES AND PRIVILEGES OF SERIES A PREFERRED STOCK OF<BR>
GENCO SHIPPING &amp; TRADING LIMITED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">The undersigned, John
C. Wobensmith, does hereby certify:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">1. That he is the
duly elected and acting President and Secretary of Genco Shipping &amp; Trading Limited a Marshall Islands corporation (the &ldquo;<U>Company</U>&rdquo;).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">2. That pursuant to
the authority conferred by the Company&rsquo;s Second Amended and Restated Articles of Incorporation, as amended, the Company&rsquo;s
Board of Directors on [ ], 2016 adopted the following resolution designating and prescribing the relative rights, preferences and
limitations of the Company&rsquo;s Series A Preferred Stock:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">RESOLVED, that pursuant
to the authority vested in the Board of Directors (the &ldquo;<U>Board</U>&rdquo;) of the Company by the Articles of Incorporation,
the Board does hereby establish a series of preferred stock, par value $0.01 per share, and the designation and certain powers,
preferences and other special rights of the shares of such series, and certain qualifications, limitations and restrictions thereon,
are hereby fixed as follows:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 1. <U>Designation
and Amount</U>. The shares of such series shall be designated as &ldquo;<U>Series A Preferred Stock</U>&rdquo;. The Series A Preferred
Stock shall have a par value of $0.01 per share, and the number of shares constituting such series shall initially be 27,061,856,
which number the Board may from time to time increase or decrease (but not below the number then outstanding). The Series A Preferred
Stock shall have a liquidation preference of $4.85 per share (the &ldquo;<U>Liquidation Preference</U>&rdquo;).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2. <U>Ranking</U>.
The Series A Preferred Stock shall rank, with respect to payment of dividends and distribution of assets upon the liquidation,
winding-up or dissolution of the Company, (a) senior to the common stock, par value $0.01 per share, of the Company (the &ldquo;<U>Common
Stock</U>&rdquo;), whether now outstanding or hereafter issued, and to each other class or series of stock of the Company (including
any series of preferred stock established after [ ], 2016 (the &ldquo;<U>Issue Date</U>&rdquo;) by the Board of Directors) the
terms of which do not expressly provide that such class or series ranks senior to, or pari passu, with the Series A Preferred Stock
as to payment of dividends and distribution of assets upon the liquidation, winding-up or dissolution of the Company (collectively
referred to as &ldquo;<U>Junior Stock</U>&rdquo;); (b) pari passu with each other class or series of stock of the Company established
after the Issue Date by the Board of Directors the terms of which expressly provide that such class or series ranks pari passu
with the Series A Preferred Stock as to payment of dividends and distribution of assets upon the liquidation, winding-up or dissolution
of the Company (collectively referred to as &ldquo;<U>Parity Stock</U>&rdquo;); and (c) junior to each other class or series of
stock of the Company established after the Issue Date by the Board of Directors the terms of which expressly provide that such
class or series ranks senior to the Series A Preferred Stock as to payment of dividends and distribution of assets upon the liquidation,
winding-up or dissolution of the Company (collectively referred to as &ldquo;<U>Senior Stock</U>&rdquo;). The Company&rsquo;s ability
to issue Capital Stock that ranks pari passu with or senior to the Series A Preferred Stock shall be subject to the provisions
of Section 5.<BR CLEAR="ALL">
</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 3. <U>Dividends</U>.
(a) Holders of shares of Series A Preferred Stock shall be entitled to cumulative dividends on the Series A Preferred Stock payable
semiannually, which dividends shall be declared by the Board of Directors or a duly authorized committee thereof, out of the assets
of the Company legally available therefor, and shall be payable semiannually commencing on the 180th day following the Issue Date
(or the following Business Day if any such payment date is not a Business Day) (each such date being referred to herein as a &ldquo;<U>Dividend
Payment Date</U>&rdquo;) at the rate per annum of 6% per share on the Liquidation Preference; <U>provided</U> that, in the event
that on any Dividend Payment Date, the Company is not permitted to declare or pay such dividend or incur such liability either
(x) as a matter of law or (y) under the terms of any loan agreement, credit agreement, guaranty, or related agreement, such dividend
(a &ldquo;<U>Deferred Dividend</U>&rdquo;) shall not be declared by the Board of Directors, shall not be paid or payable on such
Dividend Payment Date and no liability shall be incurred in respect thereof, and instead, such Deferred Dividend shall be declared,
become payable and be paid and the liability in respect thereof be incurred on the first succeeding Dividend Payment Date on which
the Company is not prohibited from declaring, paying and incurring the liability in respect of such Deferred Dividend (and, for
the avoidance of doubt, such Deferred Dividend shall be payable in addition to, and not in lieu of, any dividend which would ordinarily
be payable on such succeeding Dividend Payment Date). The amount of dividends payable for any other period that is shorter or longer
than a full semiannual dividend period will be computed on the basis of a 360-day year consisting of twelve 30-day months.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Commencing on and
following the Meeting End Date, in the event that dividends are paid on shares of Common Stock in any dividend period with respect
to the Series A Preferred Stock, then a dividend shall be payable in respect of each share of Series A Preferred Stock for such
period in an amount equal to the greater of (i) the amount otherwise payable in respect of such share of Series A Preferred Stock
in accordance with the foregoing paragraph and (ii) the product of (A) the aggregate dividends payable per share of Common Stock
in such dividend period times (B) the number of shares of Common Stock into which such share of Series A Preferred Stock is then
convertible.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">For purposes of this
Section 3(a), a dividend period with respect to a Dividend Payment Date is the period commencing on the preceding Dividend Payment
Date (or, if there is no preceding Dividend Payment Date, the Issue Date) and ending on the day immediately prior to the next Dividend
Payment Date. Dividends payable on a Dividend Payment Date shall be payable to Holders of record on the close of business on the
day on which the Board of Directors or a duly authorized committee thereof declares the dividend payable (each, a &ldquo;<U>Dividend
Record Date</U>&rdquo;).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Notwithstanding anything
in this Section 3(a) to the contrary, and without limiting any other remedy available to the Company or any other party, dividends
shall not accrue or be payable in respect of shares initially issued any Holder who is contractually obligated to appear and vote
in favor of any proposal made at a meeting of stockholders of the Company in order to effect the Stockholder Approval (or whose
transferor Holder was so obligated) if such Holder (or such transferor Holder or the Affiliates of either) fails so to appear and
vote in favor. Any shares issued to such Holders shall bear the Stockholder Approval Legend.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b) <U>Payment of
Dividends</U>. The Company may make each dividend payment on the Series A Preferred Stock either (i) in cash (or, if applicable,
in the same form as such dividend is paid to holders of Common Stock) or (ii) at the Company&rsquo;s option, by the issuance of
additional shares of Series A Preferred Stock (including fractional shares) having an aggregate Liquidation Preference equal to
the amount of the dividend to be paid (or, in the case of a non-cash distribution, having an aggregate Liquidation Preference equal
to the fair market value of such dividend (as determined in good faith by the Board of Directors, whose determination shall be
conclusive and described in a Board Resolution)). Each fractional share of Series A Preferred Stock outstanding shall be entitled
to a ratably proportionate amount of all dividends accumulating with respect to each outstanding share of Series A Preferred Stock
pursuant to Section 3, and all such dividends with respect to such outstanding fractional shares shall accumulate (whether or not
declared) and shall be payable in the same manner and at such times as provided for in Section 3 with respect to dividends on each
outstanding share of Series A Preferred Stock. No interest or sum of money in lieu of interest shall be payable in respect of any
dividends or payment that may be in arrears.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c) <U>Payment Restrictions</U>.
No dividends or other distributions (other than a dividend or distribution payable solely in shares of Parity Stock or Junior Stock
(in the case of Parity Stock) or Junior Stock (in the case of Junior Stock) and other than cash paid in lieu of fractional shares)
may be declared, made or paid, or set apart for payment upon, any Parity Stock or Junior Stock, nor may any Parity Stock or Junior
Stock be redeemed, purchased or otherwise acquired for any consideration (or any money paid to or made available for a sinking
fund for the redemption of any Parity Stock or Junior Stock) by or on behalf of the Company (except by conversion into or exchange
for shares of Parity Stock or Junior Stock (in the case of Parity Stock) or Junior Stock (in the case of Junior Stock)), unless
all accrued and unpaid dividends shall have been or contemporaneously are declared and paid (in cash or in kind), or are declared
and a sum of cash sufficient for the payment thereof is set apart for such payment, on the Series A Preferred Stock and any Parity
Stock for all dividend payment periods terminating on or prior to the date of such declaration, payment, redemption, purchase or
acquisition. Notwithstanding the foregoing, if full dividends have not been paid on the Series A Preferred Stock and any Parity
Stock, dividends may be declared and paid on the Series A Preferred Stock and such Parity Stock so long as the dividends are declared
and paid <U>pro rata</U> so that the aggregate amounts of dividends declared per share on, and the amounts of such dividends declared
in cash or in kind, as applicable, per share on, the Series A Preferred Stock and such Parity Stock will in all cases bear to each
other the same ratio that accrued and unpaid dividends per share on the shares of Series A Preferred Stock and such other Parity
Stock bear to each other.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 4. <U>Liquidation
Preference</U>. In the event of any voluntary or involuntary liquidation, dissolution or winding-up of the Company, each Holder
shall be entitled to receive out of the assets of the Company available for distribution to stockholders of the Company, before
any distribution of assets is made on the Common Stock or any other Junior Stock, an amount equal to the greater of (i) the aggregate
Liquidation Preference attributable to shares of Series A Preferred Stock held by such Holder, subject to adjustment as provided
in Section 15(a), <I>plus</I> an amount equal to the sum of all accrued and unpaid cumulative dividends, and (ii) the product of
(x) the amount per share that would have been payable upon such liquidation,</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">dissolution or winding-up
to the holders of shares of Common Stock or such other class or series of securities into which the Series A Preferred Stock is
then convertible (assuming the conversion of each share of Series A Preferred Stock), multiplied by (y) the number of shares of
Common Stock or such other securities into which the shares of Series A Preferred Stock held by such Holder are then convertible.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">None of (i) the sale
of all or substantially all of the property or business of the Company (other than in connection with the voluntary or involuntary
liquidation, dissolution or winding-up of the Company), (ii) the merger, conversion or consolidation of the Company into or with
any other Person or (iii) the merger, conversion or consolidation of any other Person into or with the Company, shall constitute
a voluntary or involuntary liquidation, dissolution or winding-up of the Company for the purposes of the immediately preceding
paragraph.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">In the event the assets
of the Company available for distribution to Holders upon any liquidation, winding-up or dissolution of the Company, whether voluntary
or involuntary, shall be insufficient to pay in full all amounts to which such Holders are entitled pursuant to this Section 4,
no such distribution shall be made on account of any shares of Parity Stock upon such liquidation, dissolution or winding-up unless
proportionate distributable amounts shall be paid on account of the shares of Series A Preferred Stock, ratably, in proportion
to the full distributable amounts for which Holders and holders of any Parity Stock are entitled upon such liquidation, winding-up
or dissolution, with the amount allocable to each series of such stock determined on a <U>pro rata</U> basis of the aggregate liquidation
preference of the outstanding shares of each series and accrued and unpaid dividends to which each series is entitled.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">After the payment
to the Holders of the full preferential amounts provided for above, the Holders as such shall have no right or claim to any of
the remaining assets of the Company.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5. <U>Voting
Rights</U>.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a) The Holders of
shares of Series A Preferred Stock will not have any voting rights, including the right to elect any directors, except (i) voting
rights, if any, required by law, and (ii) voting rights, if any, described in this Section 5.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b) So long as any
Series A Preferred Stock is outstanding, in addition to any other vote of stockholders of the Company required under applicable
law or the Articles of Incorporation, the affirmative vote or consent of the Holders of at least a majority of the outstanding
shares of Series A Preferred Stock, voting separately as a single class, will be required (i) for any amendment of the Articles
of Incorporation if the amendment would alter or change the powers, preferences, privileges or rights of the Holders so as to affect
them adversely, (ii) to issue, authorize or increase the authorized amount of, or issue or authorize any obligation or security
convertible into or evidencing a right to purchase, any Parity Stock or Senior Stock, or (iii) to reclassify any authorized stock
of the Company into any Parity Stock or Senior Stock, or any obligation or security convertible into or evidencing a right to purchase
any Parity Stock or Senior Stock. No such vote shall be required for the Company to issue, authorize or increase the authorized
amount of, or issue or authorize any obligation or security convertible into or evidencing a right to purchase, any Junior Stock.<BR CLEAR="ALL">
</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 6. <U>Conversion</U>.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a) <U>Mandatory Conversion</U>.
Effective as of the close of business on the Stockholder Approval Date, with respect to the shares of Series A Preferred Stock
of a Holder, such Holder&rsquo;s shares of Series A Preferred Stock shall automatically, without any action of such Holder, convert
into a number of shares of Common Stock equal to the aggregate Liquidation Preference of such shares of Series A Preferred Stock
<I>divided by</I> the Conversion Price then in effect (such quotient, the &ldquo;<U>Conversion Shares</U>&rdquo;).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b) In addition, effective
as of the close of business on the Stockholder Approval Date, a Holder of Series A Preferred Stock shall be entitled to receive,
at the election of the Company, either (i) cash in an amount equal to the then unpaid Deferred Dividends in respect of shares of
Series A Preferred Stock held by such Holder or (ii) a number of shares of Common Stock equal to the amount of any then unpaid
Deferred Dividends in respect of shares of Series A Preferred Stock held by such Holder <I>divided by</I> the Conversion Price
then in effect (such quotient, the &ldquo;<U>Dividend Shares</U>&rdquo;).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">No Holder may convert
shares of Series A Preferred Stock other than pursuant to Section 6(a).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c) <U>Conversion
Procedures</U>.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i) In the event of
conversion pursuant to Section 6(a), the Company shall deliver as promptly as practicable written notice to each holder specifying:
(A) the Stockholder Approval Date; (B) the number of shares of Common Stock to be issued in respect of each share of Series A Preferred
Stock that is converted; (C) the place or places where certificates or evidence of book-entry notation for such shares of Series
A Preferred Stock are to be surrendered for issuance of certificates or evidence of book-entry notation representing shares of
Common Stock; and (D) that dividends on the shares to be converted will cease to accrue on such Stockholder Approval Date. Unless
the shares of Common Stock issuable upon conversion are to be issued in the same name as the name in which such shares of Series
A Preferred Stock are registered, each share surrendered for mandatory conversion shall be accompanied by instruments of transfer,
in form satisfactory to the Company, duly executed by the holder thereof or such holder&rsquo;s duly authorized attorney and an
amount sufficient to pay any transfer or similar tax in accordance with Section 15(f).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(ii) The conversion
shall be deemed to have been effected at the close of business on the Stockholder Approval Date. At such time: (A) the person in
whose name or names any certificate or certificates for shares of Common Stock shall be issuable upon such mandatory conversion
shall be deemed to have become the holder of record of the shares of Common Stock represented thereby at such time; (B) such shares
of Series A Preferred Stock so converted shall no longer be deemed to be outstanding, and all rights of a holder with respect to
such shares shall immediately terminate except the right to receive the Common Stock and other amounts payable pursuant to this
Section 6 and the right to receive any dividend declared but not yet paid pursuant to Section 3.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(iii) Holders of shares
of Series A Preferred Stock at the close of business on a Dividend Record Date shall be entitled to receive the dividend payable
on such shares of Series A Preferred Stock on the corresponding Dividend Payment Date notwithstanding the mandatory conversion
thereof following such Dividend Record Date and prior to such Dividend Payment Date. In such event, any such dividend that would
otherwise be payable in the form of Series A Preferred Stock shall be payable to such Holder either (i) in cash or (ii) at the
Company&rsquo;s option, in shares of Common Stock converted at the Conversion Price in effect as of the time of such mandatory
conversion.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(iv) In connection
with the mandatory conversion of shares of Series A Preferred Stock, no fractions of shares of Common Stock shall be issued, but
in lieu thereof the Company shall pay an amount of cash in respect of such fractional interest equal to such fractional interest
multiplied by the Market Value per share of Common Stock on the Stockholder Approval Date.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 7. <U>Settlement
upon Conversion</U>. The Company shall satisfy its obligation to deliver Conversion Shares and, if applicable, Dividend Shares
(or such other class or series of securities into which the Series A Preferred Stock is then convertible) upon conversion of Series
A Preferred Stock by delivering to each Holder surrendering shares of Series A Preferred Stock for conversion a number of shares
of Common Stock (or such other class or series of securities into which the Series A Preferred Stock is then convertible) equal
to the number of Conversion Shares and, if applicable, Dividend Shares to which such Holder is entitled pursuant to Section 6 (<U>provided</U>
that the Company will deliver cash in lieu of fractional shares), as soon as practicable after the third Trading Day (but in no
event later than the fifth Business Day) following the Stockholder Approval Date. In the event the Company elects to pay cash pursuant
to Section 6(b)(i), such cash payment shall be made on the same date.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 8. <U>Anti-dilution
Adjustments</U>.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a) The Conversion
Price shall be subject to the following adjustments from time to time:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i) <U>Stock Dividends</U>.
In case the Company shall pay or make a dividend or other distribution on the Common Stock in Common Stock, the Conversion Price,
as in effect at the opening of business on the day following the date fixed for the determination of stockholders of the Company
entitled to receive such dividend or other distribution, shall be adjusted by multiplying such Conversion Price by a fraction of
which the numerator shall be the number of shares of Common Stock outstanding at the close of business on the date fixed for such
determination and the denominator shall be the sum of such number of shares and the total number of shares constituting such dividend
or other distribution, such adjustment to become effective immediately after the opening of business on the day following the date
fixed for such determination; <U>provided</U>, <U>however</U>, that no such adjustment to the Conversion Price shall be made if
the Holders would be entitled to receive such dividend or other distribution pursuant to Section 3.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(ii) <U>Stock Purchase
Rights</U>. In case the Company shall issue to all holders of its of Common Stock for a period expiring within 60 days from the
date of issuance of such options, warrants or other rights at a price per share of Common Stock less than 95% of the Market Value
on the date fixed for the determination of stockholders of the Company entitled to receive such options, warrants or other rights
(other than pursuant to a dividend reinvestment, share purchase or similar plan), the Conversion Price in effect at the opening
of business on the day following the date fixed for such determination shall be adjusted by multiplying such Conversion Price by
a fraction, the numerator of which shall be the number of shares of Common Stock outstanding at the close of business on the date
fixed for such determination <I>plus</I> the number of shares of Common Stock which the aggregate consideration expected to be
received by the Company upon the exercise, conversion or exchange of such options, warrants or other rights (as determined in good
faith by the Board of Directors, whose determination shall be conclusive and described in a Board Resolution) would purchase at
such Market Value and the denominator of which shall be the number of shares of Common Stock outstanding at the close of business
on the date fixed for such determination <I>plus</I> the number of shares of Common Stock so offered for subscription or purchase,
either directly or indirectly, such adjustment to become effective immediately after the opening of business on the day following
the date fixed for such determination; <U>provided</U>, <U>however</U>, that no such adjustment to the Conversion Price shall be
made if the Holders would be entitled to receive such options, warrants or other rights pursuant to Section 3; <U>provided</U>,
<U>further</U>, <U>however</U>, that if any of the foregoing options, warrants or other rights are only exercisable upon the occurrence
of a Triggering Event, then the Conversion Price will not be adjusted until such Triggering Event occurs.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(iii) <U>Stock Splits,
Reverse Splits and Combinations</U>. In case outstanding shares of Common Stock shall be subdivided, split or reclassified into
a greater number of shares of Common Stock, the Conversion Price in effect at the opening of business on the day following the
day upon which such subdivision, split or reclassification becomes effective shall be proportionately reduced, and, conversely,
in case outstanding shares of Common Stock shall be combined or reclassified into a smaller number of shares of Common Stock, the
Conversion Price in effect at the opening of business on the day following the day upon which such combination or reclassification
becomes effective shall be proportionately increased, such reduction or increase, as the case may be, to become effective immediately
after the opening of business on the day following the day upon which such subdivision, split, reclassification or combination
becomes effective.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(iv) <U>Debt, Asset
or Security Distributions</U>.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(A) In case the Company
shall, by dividend or otherwise, distribute to all holders of its Common Stock evidences of its indebtedness, assets or securities
(but excluding any dividend or distribution of options, warrants or other rights referred to in paragraph (ii) of this Section
8(a), any dividend or distribution paid exclusively in cash, any dividend or distribution of shares of Capital Stock of any class
or series, or similar equity interests, of or relating to a Subsidiary or other business unit in the case of a Spin- off referred
to in the next subparagraph, or any dividend or distribution referred to in paragraph (i) of this Section 8(a)), the Conversion
Price shall be reduced by multiplying the Conversion Price in effect immediately</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">prior to the close
of business on the date fixed for the determination of stockholders of the Company entitled to receive such distribution by a fraction,
the numerator of which shall be the Market Value on the date fixed for such determination <I>minus</I> the fair market value (as
determined in good faith by the Board of Directors, whose determination shall be conclusive and described in a Board Resolution)
of the portion of the assets or evidences of indebtedness so distributed applicable to one share of Common Stock and the denominator
of which shall be the Market Value on the to the opening of business on the day following the date fixed for the determination
of stockholders of the Company entitled to receive such distribution. In any case in which this subparagraph (iv)(A) is applicable,
subparagraph (iv)(B) of this Section 8(a) shall not be applicable. No adjustment to the Conversion Price shall be made if the Holders
would be entitled to receive such dividend or distribution pursuant to Section 3.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(B) In the case of
a Spin-off, the Conversion Price in effect immediately prior to the close of business on the date fixed for determination of stockholders
of the Company entitled to receive such distribution shall be reduced by multiplying the Conversion Price by a fraction, the numerator
of which shall be the Market Value on the date fixed for such determination <I>minus</I> the fair market value (as determined in
good faith by the Board of Directors, whose determination shall be conclusive and described in a Board Resolution) of the shares
(or fractions thereof) of Capital Stock or similar equity interests so distributed applicable to one share of Common Stock and
the denominator of which shall be the Market Value. Any adjustment to the Conversion Price under this subparagraph (iv)(B) will
occur on the date that is the earlier of (1) the tenth Trading Day from, and including, the effective date of the Spin-off and
(2) the date of the Initial Public Offering of the securities being distributed in the Spin-off, if that Initial Public Offering
is effected simultaneously with the Spin-off. No adjustment to the Conversion Price shall be made if the Holders would be entitled
to receive such dividend or distribution pursuant to Section 3.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(v) <U>Tender Offers</U>.
In the case that a tender or exchange offer made by the Company or any Subsidiary of the Company for all or any portion of the
Common Stock shall expire and such tender or exchange offer (as amended through the expiration thereof) shall require the payment
to stockholders of the Company (based on the acceptance (up to any maximum specified in the terms of the tender or exchange offer)
of Purchased Shares) of aggregate consideration having a fair market value (as determined in good faith by the Board of Directors,
whose determination shall be conclusive and described in a Board Resolution) per share of Common Stock that exceeds the Closing
Sale Price of the Common Stock on the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant
to such tender or exchange offer, then, immediately prior to the opening of business on the day after the date of the last time
(the &ldquo;<U>Expiration Time</U>&rdquo;) tenders or exchanges could have been made pursuant to such tender or exchange offer
(as amended through the expiration thereof), the Conversion Price shall be reduced by multiplying the Conversion Price immediately
prior to the close of business on the date of the Expiration Time by a fraction (A) the numerator of which shall be equal to the
product of (x) the Market Value on the date of the Expiration Time and (y) the number of shares of Common Stock outstanding (including
any tendered or exchanged shares) on the date of the Expiration Time, and (B) the denominator of which shall be equal to</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">(x) the product of
(I) the Market Value on the date of the Expiration Time and (II) the number of shares of Common Stock outstanding (including any
tendered or exchanged shares) on the date of the Expiration Time less the number of all shares validly tendered or exchanged, not
withdrawn and accepted for payment on the date of the Expiration Time (such validly tendered or exchanged shares, up to any such
maximum, being referred to as the &ldquo;<U>Purchased Shares</U>&rdquo;) <I>plus</I> (y) the amount of cash <I>plus</I> the fair
market value (determined as aforesaid) of the aggregate consideration payable to stockholders of the Company pursuant to the tender
or exchange offer (assuming the acceptance, up to any maximum specified in the terms of the tender or exchange offer, of Purchased
Shares).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b) <U>De minimis
Adjustments</U>. Notwithstanding anything herein to the contrary, no adjustment under this Section 8 need be made to the Conversion
Price unless such adjustment would require an increase or decrease of at least 1.0% of the Conversion Price then in effect. Any
lesser adjustment shall be carried forward and shall be made at the time of and together with the next subsequent adjustment, if
any, which, together with any adjustment or adjustments so carried forward, shall result in an increase or decrease of at least
1.0% of such Conversion Price. No adjustment under this Section 8 shall be made if such adjustment will result in a Conversion
Price that is less than the par value of the Common Stock.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c) <U>Tax-Related
Adjustments</U>. The Company may make such reductions in the Conversion Price, in addition to those required by this Section 8,
as the Board of Directors considers advisable in order to avoid or diminish any income tax to any holders of shares of Common Stock
resulting from any dividend or distribution of stock or issuance of rights or warrants to purchase or subscribe for stock or from
any event treated as such for income tax purposes. In the event the Company elects to make such a reduction in the Conversion Price,
the Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder if and to the extent that such laws and regulations are applicable in connection with the reduction in the Conversion
Price.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d) <U>Stockholder
Rights Plans</U>. Upon conversion of the Series A Preferred Stock, to the extent that the Holders receive Common Stock, such Holders
shall receive, in addition to the shares of Common Stock, the rights issued under any future stockholder rights plan the Company
may establish whether or not such rights are separated from the Common Stock prior to conversion. A distribution of rights pursuant
to any stockholder rights plan will not result in an adjustment to the Conversion Price pursuant to Section 8(a)(ii) or 7(a)(iv),
<U>provided</U> that the Company has provided for the Holders to receive such rights upon conversion.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e) <U>Notice of Adjustment</U>.
Whenever the Conversion Price is adjusted in accordance with this Section 8, the Company shall (i) compute the Conversion Price
in accordance with this Section 8 and prepare and transmit to the Transfer Agent an Officer&rsquo;s Certificate setting forth the
Conversion Price, the method of calculation thereof in reasonable detail, and the facts requiring such adjustment and upon which
such adjustment is based and (ii) as soon as practicable following the occurrence of an event that requires an adjustment to the
Conversion Price pursuant to this Section 8 (or if the Company is not aware of such occurrence, as soon as practicable after becoming
so aware), the Company or, at the request and expense of</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">the Company, the Transfer
Agent shall provide a written notice to the Holders of the occurrence of such event and a statement setting forth in reasonable
detail the method by which the adjustment to the Conversion Price was determined and setting forth the adjusted Conversion Price.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f) <U>Reversal of
Adjustment</U>. If the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive
a dividend or other distribution, and shall thereafter (and before the dividend or distribution has been paid or delivered to stockholders)
legally abandon its plan to pay or deliver such dividend or distribution, then thereafter no adjustment in the Conversion Price
then in effect shall be required by reason of the taking of such record.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g) <U>Exceptions
to Adjustment</U>. The applicable Conversion Price shall not be adjusted:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i) upon the issuance
of any shares of Common Stock pursuant to any present or future plan providing for the reinvestment of dividends or interest payable
on the Company&rsquo;s securities and the investment of additional optional amounts in shares of Common Stock under any such plan;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(ii) upon the issuance
of any shares of Common Stock or options or rights to purchase those shares pursuant to any present or future employee, director
or consultant benefit plan or program of or assumed by the Company or any of its Subsidiaries;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(iii) upon the issuance
of any shares of Common Stock pursuant to any option, warrant, right or exercisable, exchangeable or convertible security outstanding
as of the Issue Date;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(iv) upon the issuance
of any shares of Common Stock or any other security of the Company in connection with acquisitions of assets or securities of another
Person, including with respect to any merger or consolidation or similar transaction;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(v) for a change in
the par value of the Common Stock; or</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(vi) for accrued and
unpaid dividends on the Series A Preferred Stock.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 9. <U>Recapitalizations,
Reclassifications and Changes in the Company&rsquo;s Stock</U>. In the event of any reclassification of outstanding shares of Common
Stock (other than a change in par value, or from par value to no par value, or from no par value to par value), or any sale or
other disposition to another Person of all or substantially all of the assets of the Company (computed on a consolidated basis)
(any of the foregoing, a &ldquo;<U>Transaction</U>&rdquo;), upon conversion of its shares of Series A Preferred Stock, a Holder
will be entitled to receive the kind and amount of securities (of the Company or another issuer), cash and other property receivable
upon such Transaction by a holder of the number of shares of Common Stock into which such shares of Series A Preferred Stock were
convertible immediately prior to such Transaction, after giving effect to any adjustment event or, in the event holders of Common
Stock have the opportunity to</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">elect the form of
consideration to be received in any Transaction, the weighted average of the forms and amounts of consideration received by the
holders of the Common Stock. In the event that at any time, as a result of an adjustment made pursuant to this Certificate of Designations,
the Holders shall become entitled upon conversion to any securities other than, or in addition to, shares of Common Stock, thereafter
the number or amount of such other securities so receivable upon conversion shall be subject to adjustment from time to time in
a manner and on terms as nearly equivalent as practicable to the provisions with respect to the Common Stock set forth in this
Certificate of Designations.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 10. <U>Consolidation,
Merger and Sale of Assets</U>.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a) The Company, without
the consent of the Holders, may consolidate with or merge into any other Person or convey, transfer or lease all or substantially
all its assets to any Person or may permit any Person to consolidate with or merge into, or transfer or lease all or substantially
all its properties to, the Company (any of the foregoing, &ldquo;<U>Reorganization</U>&rdquo;); <U>provided</U>, <U>however</U>,
that the shares of Series A Preferred Stock will become the kind and amount of securities of such successor, transferee or lessee,
cash and other property receivable by a holder of the number of shares of Common Stock into which such shares of Series A Preferred
Stock were convertible immediately prior to such Reorganization, having in respect of such successor, transferee or lessee the
same power, preferences and relative participating, optional or other special rights and the qualifications, limitations or restrictions
thereon.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b) Upon any consolidation
by the Company with, or merger by the Company into, any other Person or any conveyance, transfer or lease of all or substantially
all the assets of the Company as described in Section 10(a), the successor resulting from such consolidation or into which the
Company is merged or the transferee or lessee to which such conveyance, transfer or lease is made, will succeed to, and be substituted
for, and may exercise every right and power of, the Company under the shares of Series A Preferred Stock, and thereafter, except
in the case of a lease, the predecessor (if still in existence) will be released from its obligations and covenants with respect
to the Series A Preferred Stock.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 11. <U>Notices</U>.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a) When the Company
is required, pursuant to this Certificate of Designations, to give notice to Holders by issuing a press release, rather than directly
to Holders, the Company shall do so in a public medium that is customary for such press release. In such cases, publication of
a press release through GlobeNewswire, Inc. shall be considered sufficient to comply with such notice obligation.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b) When the Company
is required, pursuant to this Certificate of Designations, to give notice to Holders without specifying the method of giving such
notice, the Company shall do so by sending notice via first class mail or by overnight courier to the Holders of record as of a
reasonably current date.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 12. <U>Transfer
of Securities</U>.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a) The shares of
Series A Preferred Stock and the shares of Common Stock issuable upon conversion of the Series A Preferred Stock (collectively,
the &ldquo;<U>Securities</U>&rdquo;) have not been registered under the Securities Act or any other applicable securities laws
and may not be offered or sold except in compliance with the registration requirements of the Securities Act and any other applicable
securities laws, or pursuant to an exemption from registration under the Securities Act and any other applicable securities laws,
or in a transaction not subject to such laws. The Common Stock issuable upon conversion of the Series A Preferred Stock will have
the benefit of certain registration rights under the Securities Act pursuant to the Registration Rights Agreement entered into
by the Company and the Holders on [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2016, a copy of which may be obtained from the
Company by writing to it at Genco Shipping &amp; Trading Limited, 299 Park Avenue, 12th Floor, New York, NY 10171, Attention: Secretary.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b) Shares of Common
Stock issued upon a conversion of the shares of Series A Preferred Stock bearing the Restricted Stock Legend, prior to the first
anniversary of the Issue Date, shall bear a restricted common stock legend that corresponds to the Restricted Stock Legend (the
&ldquo;<U>Restricted Common Stock Legend</U>&rdquo;).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 13. <U>Certain
Tax Matters</U>. The Company shall be entitled to deduct and withhold from any payment of cash, shares of Series A Preferred Stock,
shares of Common Stock or other consideration deliverable to a Holder of a share of Series A Preferred Stock, any amounts required
to be deducted or withheld under applicable U.S. federal, state, local or foreign tax laws with respect to such payment or issuance.
In the event the Company paid withholding taxes to a governmental authority in respect of any amount treated as a distribution
on a share of Series A Preferred Stock, the Company shall be entitled to deduct any such taxes from any subsequent payment of cash,
shares of Series A Preferred Stock, shares of Common Stock or other consideration otherwise deliverable to a Holder of a share
of Series A Preferred Stock.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 14. <U>Definitions</U>.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a) &ldquo;<U>Affiliate</U>&rdquo;
means, with respect to any Person, any other Person which directly or indirectly through one or more intermediaries Controls, is
controlled by, or is under common Control with, such Person,</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b) &ldquo;<U>Board
of Directors</U>&rdquo; has the meaning set forth in the first paragraph of this Certificate of Designations.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c) &ldquo;<U>Board
Resolution</U>&rdquo; means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have
been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered
to the Transfer Agent.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d) &ldquo;<U>Business
Day</U>&rdquo; means any day other than a Saturday or Sunday or any other day on which banks in the City of New York are authorized
or required by law or executive order to close.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e) &ldquo;<U>Capital
Stock</U>&rdquo; of any Person means any and all shares, interests, participations or other equivalents however designated of corporate
stock or other equity participations, including partnership interests, whether general or limited, of such Person and any rights
(other than debt securities convertible or exchangeable into an equity interest), warrants or options to acquire an equity interest
in such Person.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f) The &ldquo;<U>Closing
Sale Price</U>&rdquo; of the Common Stock on any date means the closing sale price per share (or if no closing sale price is reported,
the average of the closing bid and ask prices or, if more than one in either case, the average of the average closing bid and the
average closing ask prices) on such date as reported on the New York Stock Exchange or the principal national securities exchange
on which the Common Stock is traded, or if it is not so traded, on the over-the-counter market. In the absence of such a quotation,
the Closing Sale Price of the Common Stock will be an amount determined in good faith by the Board of Directors to be the fair
market value of such Common Stock, and such determination shall be conclusive.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g) &ldquo;<U>Common
Stock</U>&rdquo; has the meaning set forth in Section 2.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h) &ldquo;<U>Company</U>&rdquo;
has the meaning set forth in the first paragraph of this Certificate of Designations.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i) &ldquo;<U>Control</U>&rdquo;
(including the terms &ldquo;controlling&rdquo;, &ldquo;controlled by&rdquo; or &ldquo;under common control with&rdquo;) means the
possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether
through the ownership of voting securities, by contract or otherwise.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(j) &ldquo;<U>Conversion
Price</U>&rdquo; shall initially equal $4.85 per share of Common Stock, and shall be subject to adjustment as set forth in Section
8.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(k) &ldquo;<U>Conversion
Shares</U>&rdquo; has the meaning set forth in Section 6(a).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(l) &ldquo;<U>Dividend
Payment Date</U>&rdquo; has the meaning set forth in Section 3(a).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(m) &ldquo;<U>Dividend
Record Date</U>&rdquo; has the meaning set forth in Section 3(b).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(n) &ldquo;<U>Exchange
Act</U>&rdquo; means the Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(o) &ldquo;<U>Expiration
Time</U>&rdquo; has the meaning set forth in Section 8(a)(v).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(p) &ldquo;<U>Holder</U>&rdquo;
means the Person in whose name a share of Series A Preferred Stock is registered.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(q) &ldquo;<U>including</U>&rdquo;
means &ldquo;including, without limitation&rdquo;.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(r) &ldquo;<U>Initial
Public Offering</U>&rdquo; means, in the event of a Spin-off, the first time securities of the same class or type as the securities
being distributed in the Spin-off are bona fide offered to the public for cash.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(s) &ldquo;<U>Issue
Date</U>&rdquo; has the meaning set forth in Section 2.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(t) &ldquo;<U>Junior
Stock</U>&rdquo; has the meaning set forth in Section 2.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(u) &ldquo;<U>Liquidation
Preference</U>&rdquo; has the meaning set forth in Section 1.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(v) &ldquo;<U>Market
Value</U>&rdquo; means, with respect to any date of determination, the average Closing Sale Price of the Common Stock for a five
consecutive Trading Day period preceding the earlier of (i) the day preceding the date of determination and (ii) the day before
the &ldquo;ex date&rdquo; with respect to the issuance or distribution requiring such computation. For purposes of this definition,
the term &ldquo;ex date&rdquo; when used with respect to any issuance or distribution, means the first date on which the Common
Stock trades, regular way, on the New York Stock Exchange or the principal national securities exchange on which the Common Stock
is traded, or if it is not so traded, on the over-the-counter market, without the right to receive the issuance or distribution.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(w) &ldquo;<U>Meeting
End Date</U>&rdquo; shall mean seventy-five days after the Issue Date.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(x) &ldquo;<U>Officer</U>&rdquo;
means the President, Chief Executive Officer, any Vice President, the Chief Financial Officer, the Chief Accounting Officer, the
Treasurer, any Assistant Treasurer, the Controller, any Assistant Controller, the Secretary or any Assistant Secretary of the Company.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(y) &ldquo;<U>Officer&rsquo;s
Certificate</U>&rdquo; means a certificate signed by two Officers.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(z) &ldquo;<U>Opinion
of Counsel</U>&rdquo; means a written opinion from legal counsel who is reasonably acceptable to the Company.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(aa) &ldquo;<U>Parity
Stock</U>&rdquo; has the meaning set forth in Section 2.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(bb) &ldquo;<U>Person</U>&rdquo;
means an individual, corporation, partnership, limited liability company, trust, business trust, association, joint stock company,
joint venture, sole proprietorship, unincorporated organization, governmental authority or any other form of entity not specifically
listed herein.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(cc) &ldquo;<U>Purchased
Shares</U>&rdquo; has the meaning set forth in Section 8(a)(v).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(dd) &ldquo;<U>Registration
Rights Agreement</U>&rdquo; means the Registration Rights Agreement, dated as of [ ], 2016, by and among, the Company and the Purchasers
(as defined therein) set forth on the signature page thereto.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(ee) &ldquo;<U>Reorganization</U>&rdquo;
has the meaning set forth in Section 10(a).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(ff) &ldquo;<U>Restricted
Common Stock Legend</U>&rdquo; has the meaning set forth in Section 12(b).</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(gg) &ldquo;<U>Restricted
Stock Legend</U>&rdquo; means a legend to the following effect:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">THE SECURITIES REPRESENTED
BY THIS CERTIFICATE AND THE SECURITIES ISSUABLE UPON CONVERSION THEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED, OR SECURITIES LAWS OF ANY STATE AND MAY NOT BE TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO A REGISTRATION
STATEMENT RELATING THERETO IN EFFECT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EXEMPTION FROM REGISTRATION
UNDER SUCH ACT OR SUCH LAWS.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(hh) &ldquo;<U>Securities</U>&rdquo;
has the meaning set forth in Section 12(a).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(ii) &ldquo;<U>Securities
Act</U>&rdquo; means the Securities Act of 1933, as amended.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(jj) &ldquo;<U>Senior
Stock</U>&rdquo; has the meaning set forth in Section 2.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(kk) &ldquo;<U>Series
A Preferred Stock</U>&rdquo; has the meaning set forth in Section 1.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(ll) &ldquo;<U>Spin-off</U>&rdquo;
means a dividend or other distribution of shares of Capital Stock of any class or series, or similar equity interests, of or relating
to a Subsidiary or other business unit of the Company.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(mm) &ldquo;<U>Stockholder
Approval</U>&rdquo; means the stockholder approval of the proposals to issue Common Stock upon conversion of the Series A Preferred
Stock for purposes of Rule 312 of the NYSE Listed Company Manual.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(nn) &ldquo;<U>Stockholder
Approval Date</U>&rdquo; means the date on which the Stockholder Approval is obtained.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(oo) &ldquo;<U>Stockholder
Approval Legend</U>&rdquo; means a legend to the following effect:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">THE SHAREHOLDER TO
WHOM THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED IS CONTRACTUALLY OBLIGATED TO VOTE IN IN FAVOR OF ANY PROPOSAL
MADE AT A MEETING OF STOCKHOLDERS OF THE COMPANY IN ORDER TO EFFECT THE STOCKHOLDER APPROVAL AS DEFINED IN THE CERTIFICATE OF DESIGNATIONS
OF RIGHTS, PREFERENCES AND PRIVILEGES OF SERIES A PREFERRED STOCK OF GENCO SHIPPING &amp; TRADING LIMITED. NO DIVIDENDS SHALL ACCRUE
OR BE PAYABLE IN RESPECT OF SUCH SHARES IF THE SHAREHOLDER FAILS SO TO VOTE IN FAVOR.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(pp) &ldquo;<U>Subsidiary</U>&rdquo;
of any Person means any other Person (i) more than 50% of whose outstanding shares or securities representing the right to vote
for the election of directors or other managing authority of such other Person are, now or hereafter, owned or controlled, directly
or indirectly, by such first Person, but such other Person shall be deemed to be a Subsidiary only so long as such ownership or
control exists, or (ii) which does not have</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">outstanding shares
or securities with such right to vote, as may be the case in a partnership, joint venture or unincorporated association, but more
than 50% of whose ownership interest representing the right to make the decisions for such other Person is, now or hereafter, owned
or controlled, directly or indirectly, by such first Person, but such other Person shall be deemed to be a Subsidiary only so long
as such ownership or control exists.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(qq) &ldquo;<U>Trading
Day</U>&rdquo; means a day during which trading in securities generally occurs on the New York Stock Exchange.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(rr) &ldquo;<U>Transaction</U>&rdquo;
has the meaning set forth in Section 9.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(ss) &ldquo;<U>Transfer
Agent</U>&rdquo; means Computershare Trust Company, N.A. unless and until a successor is selected by the Company, and then such
successor.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(tt) &ldquo;<U>Triggering
Event</U>&rdquo; means a specified event the occurrence of which entitles the holders of rights, options or warrants to exercise
such rights, options or warrants.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 15. <U>Miscellaneous</U>.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a) The Liquidation
Preference and any dividend rate set forth herein each shall be subject to equitable adjustment whenever there shall occur a stock
split, combination, reclassification or other similar event involving the Series A Preferred Stock. Such adjustments shall be determined
in good faith by the Board of Directors (and such determination shall be conclusive).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b) For the purposes
of Section 8, the number of shares of Common Stock at any time outstanding shall not include shares held in the treasury of the
Company but shall include shares issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c) If the Company
shall take any action affecting the Common Stock, other than any action described in Section 8, that in the opinion of the Board
of Directors would materially adversely affect the conversion rights of the Holders, then the Conversion Price for the Series A
Preferred Stock may be adjusted, to the extent permitted by law, in such manner, and at such time, as the Board of Directors may
determine to be equitable in the circumstances.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d) The Company shall
at all times reserve and keep available, free from preemptive rights, out of the aggregate of its authorized but unissued shares
of Common Stock for the purpose of effecting conversion of the Series A Preferred Stock, the full number of shares of Common Stock
deliverable upon the conversion of all outstanding shares of Series A Preferred Stock not theretofore converted. For purposes of
this Section 15(d), the number of shares of Common Stock that shall be deliverable upon the conversion of all outstanding shares
of Series A Preferred Stock shall be computed as if at the time of computation all such outstanding shares were held by a single
Holder.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e) Any shares of
Common Stock issued upon conversion of the Series A Preferred Stock shall be duly and validly issued and fully paid and nonassessable,
free from preemptive rights and free from all taxes, liens, charges and security interests with respect to the issuance thereof,
except for transfer restrictions imposed by applicable securities laws and the Registration Rights Agreement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f) The Company shall
pay all transfer, stamp and other similar taxes due with respect to the issuance or delivery of shares of Common Stock or other
securities or property upon conversion of the Series A Preferred Stock; <U>provided</U>, <U>however</U>, that the Company shall
not be required to pay any tax that may be payable with respect to any transfer involved in the issuance or delivery of shares
of Common Stock or other securities or property in a name other than that of the Holder of the Series A Preferred Stock to be converted,
and the Holder shall be responsible for any such tax.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g) The Series A Preferred
Stock is not entitled to any preemptive or subscription rights in respect of any securities of the Company.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h) The Series A Preferred
Stock shall not be subject to redemption.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i) Whenever possible,
each provision hereof shall be interpreted in a manner as to be effective and valid under applicable law, but if any provision
hereof is held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such
prohibition or invalidity, without invalidating or otherwise adversely affecting the remaining provisions hereof. If a court of
competent jurisdiction should determine that a provision hereof would be valid or enforceable if a period of time were extended
or shortened or a particular percentage were increased or decreased, then such court may make such change as shall be necessary
to render the provision in question effective and valid under applicable law.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(j) Series A Preferred
Stock may be issued in fractions of a share which shall entitle the Holder, in proportion to such Holder&rsquo;s fractional shares,
to exercise voting rights, receive dividends, participate in distributions and have the benefit of all other rights of Holders
of Series A Preferred Stock.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(k) Subject to applicable
escheat laws, any monies set aside by the Company in respect of any payment with respect to shares of the Series A Preferred Stock,
or dividends thereon, and unclaimed at the end of two years from the date upon which such payment is due and payable shall revert
to the general funds of the Company, after which reversion the Holders of such shares shall look only to the general funds of the
Company for the payment thereof. Any interest accumulated on funds so deposited shall be paid to the Company from time to time.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(l) Except as may
otherwise be required by law, the shares of Series A Preferred Stock shall not have any voting powers, preferences and relative,
participating, optional or other special rights, other than those specifically set forth in this Certificate of Designations or
the Articles of Incorporation.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(m) The headings of
the various subdivisions hereof are for convenience of reference only and shall not affect the interpretation of any of the provisions
hereof.<BR CLEAR="ALL">
</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(n) If any of the
voting powers, preferences and relative, participating, optional and other special rights of the Series A Preferred Stock and qualifications,
limitations and restrictions thereof set forth herein is invalid, unlawful or incapable of being enforced by reason of any rule
of law or public policy, all other voting powers, preferences and relative, participating, optional and other special rights of
Series A Preferred Stock and qualifications, limitations and restrictions thereof set forth herein which can be given effect without
the invalid, unlawful or unenforceable voting powers, preferences and relative, participating, optional and other special rights
of Series A Preferred Stock and qualifications, limitations and restrictions thereof shall, nevertheless, remain in full force
and effect, and no voting powers, preferences and relative, participating, optional or other special rights of Series A Preferred
Stock and qualifications, limitations and restrictions thereof herein set forth shall be deemed dependent upon any other such voting
powers, preferences and relative, participating, optional or other special rights of Series A Preferred Stock and qualifications,
limitations and restrictions thereof unless so expressed herein.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(o) Shares of Series
A Preferred Stock that (i) have not been issued on or before the Issue Date or (ii) have been issued and reacquired in any manner,
including shares of Series A Preferred Stock purchased or converted, shall (upon compliance with any applicable provisions of Business
Corporations Act of the Republic of the Marshall Islands) have the status of authorized but unissued shares of preferred stock
of the Company undesignated as to series and may be designated or redesignated and issued or reissued, as the case may be, as part
of any series of preferred stock of the Company; provided that any issuance of such shares as Series A Preferred Stock must be
in compliance with the terms hereof.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(p) If any of the
Series A Preferred Stock certificates shall be mutilated, lost, stolen or destroyed, the Company shall issue, in exchange and in
substitution for and upon cancellation of the mutilated Series A Preferred Stock certificate, or in lieu of and substitution for
the Series A Preferred Stock certificate lost, stolen or destroyed, a new Series A Preferred Stock certificate of like tenor and
representing an equivalent amount of shares of Series A Preferred Stock, but only upon receipt of evidence of such loss, theft
or destruction of such Series A Preferred Stock certificate and indemnity, if requested, reasonably satisfactory to the Company
and the Transfer Agent.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">IN WITNESS WHEREOF,
the Company has caused this Certificate of Designations to be duly executed this day of , 2016.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 36%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">John C. Wobensmith</FONT></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">President and Secretary</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&nbsp;</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">EXHIBIT B-1</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">LEGAL OPINION OF KRAMER LEVIN NAFTALIS
&amp; FRANKEL LLP</P>


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<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">EXHIBIT B-2</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">LEGAL OPINION OF REEDER &amp; SIMPSON,
P.C.</P>


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<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">EXHIBIT C</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">DEBT COMMITMENT LETTER</P>


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