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Sunshine Maritime Services inc,

Yacht Management Contract

Vessel:
Yacht Name: Flag: Port of Registry:

Documentation Number:

Owners:

Name: Address: Contact:

Managers: Sunshine Maritime Services Inc. 103 South U.S. Highway One F5-114, Jupiter, Florida
33477 561-743-7883

The managers shall provide technical management which includes but is not limited to the following:

Provision of competent personnel to supervise the maintenance and general efficiency of the vessel.

Arrangement of all dry dockings, repairs, alterations, and up keep of the vessel to the
standards required by the Owners, provided that the managers shall be entitled to incur the
necessary expenditure to ensure that the vessel will comply with the laws of the flag and of
the places where she trades and all requirements and recommendations of the classification
society.

Arrange of supply of all necessary supplies, stores, spares and lubricating oil.

Appointment of surveyors, technical consultants as the managers may consider from time to
time be necessary.

Provide commercial operation of the vessel, as required by the Owners, which includes but is
not limited to the following functions:

Providing chartering services in accordance with the Owner’s instructions which include, but
are not limited to, seeking and negotiating employment for the Vessel and the conclusion
including the execution thereof of charter parties relating to the employment of the vessel.

Provide and maintain all records for scheduling for charters.

Arrange for the proper payment to Owners or their nominees of all hire revenues or other
moneys of whatsoever nature to which Owners may be entitled arising out of employment of
or otherwise in connection with the Vessel.

Issue voyage instructions


Appoint agents
Arranging surveys associated with the operation of the vessel.
Sunshine Maritime Services inc,
Yacht Management Contract

Arrange for Bahamian port authority charter compliance

Establish a separate checking account and system which meets the requirements of the
Owners and provides regular accounting services and supply regular reports and records.

Maintain all records of all costs and expenditures incurred as well as data necessary or proper
for the settlement of accounts between the parties.

Arrange for the supply of provisions when economically feasible.

Insurance policies:
The owners shall procure an insurance policy at the Owner’s expense, that the Vessel is insured for
not less than her sound market value or entered for her full gross tonnage as the case may be for:
1. Usual hull and machinery, marine risks, including crew negligence, third parties liabilities and
excess liabilities
2. Protection and indemnity risks including pollutions risks and crew insurances
3. War risks including protection and indemnity and crew risks in accordance with the best
practice of prudent owners vessels of a similar type to the Vessel, with first class insurance
companies, underwriters or associations (the Owner’s Insurance).
4. All premiums and calls on the Owner’s insurance are paid promptly be their due date.
5. The Owner’s insurance is to name the Managers and be subject to the underwriter’s
agreement, any third party designated by the Managers as joint assured with full coverage
with the owner’s obtaining coverage in respect of each of the insurance specified above.
i. On terms whereby the managers and any such third party are liable in respect of
premiums or calls arising in connection with the Owner’s insurance; or
ii. If reasonably obtainable on terms such that neither the Managers nor any such third
party shall be under any liability in respect of premiums or calls arising in connection
with the Owner’s insurance or;
iii. On such other terms as may be agreed in writing.

6 Written evidence is provided to the reasonable satisfaction of the Managers of their


compliance with their obligations under the terms of this agreement within a reasonable time of the
commencement of the Agreement and or each renewal date and if specifically requested of each
payment date of Owner’s insurance.

Management Fee

For the services requested by the Owners, based on a 1 year period, the Managers propose as follows;

Monthly management fee of $5,000 ( five thousand dollars) VAT excluded if warranted, which shall be
payable each month in advance; the first installment being payable on the commencement of the
Agreement and subsequent payment being payable every month.
Sunshine Maritime Services inc,
Yacht Management Contract

A charter brokerage commission of 5 percent on gross hire of any charter party signed during the
“commercial management period” shall be paid by Owners at time of receiving payment. This fee
will include any Owner’s private use of the vessel .

The Manager shall at no extra cost to the owners, provide their own office accommodation, staff,
facilities, stationery, The Owners shall reimburse the Managers for postage and communication
expenses, traveling expenses, advertising and promotion expenses and other out of pocket expenses
property incurred by the Managers in pursuance of the Management services.

The Owners shall provide, the management company, Sunshine Maritime Services a credit card
To cover vessel expenses not inclusive of the management fee.

Date:

Owner of record:

Sunshine Maritime Services Inc.

Witness:

_____________________________________________________________________________________

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