Captaincy

1. The governance of the professional pleasure yacht is taken over by the Skipper, who is hired by the Charterer and is regarded as an extra person or a passenger who holds the legal qualifications for the governance of the Yacht.

Validity

2. The signature of this Agreement by the Owner and/or his Broker becomes valid and binds the Owner to his obligations hereinafter mentioned on condition only that the Owner will actually receive by Charterer the sums of the payments stipulated herein, in cleared funds no later than the dates specified in this Agreement.

Delivery

3. The Owner agrees:

a. To fit out the Yacht and to hand her to the Charterer, without crew, afloat, clean, ready for sea, with all the gear and equipment indicated in the Yacht's brochure and its inventory list and in proper running and seaworthy condition on the 1^st day of the charter after 17:00 in Lavrio.

The Vessel is a recreational vessel and the Owner does not warrant neither her use and comfort in bad weather conditions nor feasibility of itinerary for all cruises and passages within the cruising area

Insurance

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

Delayed Delivery

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

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

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

Excess Delay

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

Redelivery (Return) of the Yacht and Delays

4. The Charterer agrees:

a. To redeliver the Yacht to the Owner at previous day of the end of the charter latest at 18:00 free of any debts, cleaned, together with all her equipment in the same good condition as she was at delivered. If agreed the Owner may arrange for cleaning and for repairs or replenishment of material lost or consumed on Charterer's expense for a set flat fee. If for any reason, weather conditions included, the Charterer fails to re-deliver the Vessel at the agreed date and time and at the same good condition as she was delivered to Charterer, then Charterer shall be liable for demurrage to Owner at a daily rate calculated pro-rata based on charter fee stipulated herein, increased by fifty percent (50%), for every day or fractional part of a day thereafter until delivery has been effected. If the Charterer shall leave the Vessel at any place other than disembarkation port stipulated herein, then Charterer shall be liable to ensure that the vessel is cared for by qualified per sons until the Owner is able to take possession of her further he is liable to pay to the Owner all expenses for transferring the yacht to the place of redelivery and pro-rata demurrage as stipulated above for the number of days required for this transfer and re -delivery, as well as for any loss or damage not covered by the insurance policy, which may occur on or to the Vessel until she has been taken over again by the Owner.

Deposit and Guaranty

Restrictions in the use of the Yacht

Composition of Charterer's Party and Cruise Limits

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

c. Not to use the Yacht for racing or for towing other craft, except in an emergency, or generally for any purpose other than that of private pleasure of the Charterer and his party which should include not less than ONE (1) qualified skipper and ONE (1) experienced crew members, but not more than 12 in all at sea, or to accommodate aboard any person other than those shown on the crew/passenger manifest nor to take the Yacht or permit her to be taken outside the area of the Greek seas nor to sublet the Yacht without the written consent of the owner.

Observance of Customs and Diving Laws

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

Agreement for Towing the Yacht

e. To take every possible preventive measure and precaution to avoid to bring the Vessel in any condition in which the Vessel will need to be towed to any point by another vessel, but towing the yacht should such a necessity arise in spite of the Charterer’s efforts, to notify immediately the Owner and if such contact is impossible to negotiate and agree in writing with the captain of the other vessel on the price to be paid, before allowing the Vessel to be towed.

Restrictions in Leaving Port

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

Restrictions in the Use of Canvas Restrictions in Navigation

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

Yacht Log

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

Itinerary

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

Reports of Yacht's Position and State

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

Information

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

Charterer's Sailing Qualifications

5. The Charterer assumes full responsibility for all crew and materials into account and shall care for the Vessel as his own following the rules of good seamanship and in compliance with the relevant statutory provisions and regulations at cruising area. The Charterer warrants that he possesses required license for skippering the Vessel or that he will be accompanied by a crew member as skipper who has required certification and that skipper and crew possess necessary navigational and nautical knowledge and experience to safely use the Vessel. This Agreement is entered into on the basis of the Charterer’s certification and competence in sailing, seamanship and navigation warrantied by him and in the event of any error, omission or misinterpretation in this respect being subsequently discovered, the Owner shall be entitled to terminate this Agreement forthwith and to retain all amounts payable by Charterer under the provisions of this Agreement

Test of Sailing Competence of Charterer and his Crew

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

Take-Over of the Yacht & Time required for it

Charterer's Responsibility during Charter Time

7. Prior to delivery of the vessel, Charterer shall thoroughly inspect her together with the Owner or his representative, using standardized inspection checklist (Delivery Statement - Inventory List), to ascertain proper condition of vessel and equipment as well as completeness of inventory, then both the seaworthiness of the vessel and suitability as offered shall be confirmed by Charterer’s signature, which shall be binding and any objections or claims made afterwards, not excluding latent defect, shall be disregarded. The time required to inspect and demonstrate the vessel to the Charterer for familiarization purposes shall be part of the agreed charter period and free use of the Vessel will be granted to Charterer after he has signed the Delivery Statement - Inventory List. The Charterer cannot refuse to take delivery of the vessel for immaterial deviations or defects.

Running Expenses

Repairs of Damages

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

Ascertainment of Damages

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

Cancellation or Premature Termination

10. In the event of cancellation of the charter by the Charterer, for any reason, except as mentioned in Clause 3 (c) (III), after signing this Agreement, the following are valid:

For bookings cancelled more than 91 days before embarkation: 25% of charter fee is retained

For bookings cancelled between 90 days to 46 days before embarkation: 50% of charter fee is retained

For bookings cancelled less than 45 days before embarkation: 100% of charter fee and ordered extras is retained, if are not paid client or agent are obliged to pay them.

If the yacht is rented again in the same period and under same conditions, all amounts received will be refunded and only handling fees 300 euro will be charged.

In the event that the Charterer should elect to terminate the charter and deliver the Yacht prior to the date designated in this Agreement, the Owner shall not be liable to the return of any proportional part of the hire money.

Total loss of Yacht

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

VAT rate

12. It is here expressly agreed that charter Fee includes VAT as per rate applicable by current tax legislation valid to this date and subject to change without prior notice or responsibility of the Broker, the Stakeholder of the Owner. Should any changes in applicable tax legislation take place after the issuance of this agreement, resulting in changes in amount of VAT, then the difference will be credited or debited to the Charterer accordingly. Should any of the agreed payments not be received in cleared funds in due time, this Agreement shall be considered cancelled by Charterer.

Complaints

War, Strike, Crisis, Pandemic

13. In cases of complaints, notice must be given to Owner by written communication specifying the precise nature of the complaint within 24-hours of the event or occurrence and not after the charter period has ended. Any claim or complaint after such period, may be rejected and the claimant shall forfeit its right to any (damage or cost) compensation.

14. In the case that a charter customer is unable to get to the base due to travel restrictions, when there is an official advisory not to travel to the area of the booked charter, or the border is closed to the country of origin of the customer, then for already booked charters it is possible to change the dates, as long as the departure remains in the current year, the charter area and boat remains the same. If it is not possible to charter on the current year due to the above-mentioned restrictions, client will have a credit note for charter only on the next year for the same boat and location. If the rescheduled booking is more expensive the price difference will be charged.

In any case that there is war or strike or crisis or pandemic any payments that have been done till the time of the above-mentioned restrictions are not refundable, then for already booked charters it is possible to change the dates, as long as the departure remains in the current year, the charter area and boat remains the same. If it is not possible to charter on the current year due to the above-mentioned restrictions, client will have a credit note for charter only on the next year for the same boat and location. If the rescheduled booking is more expensive the price difference will be charged. The cancelation policy is not valid, new cancelation policy will be applied.

Special Provisions

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

Agents

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

Arbitration of Disputes

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