Amendment to the Dealership Contract signed on 15th January 2014

Between:

AZIMUT BENETTI S.p.A., Via Martin Luther King 9-11, 10051 Avigliana (TO), Italy
(hereinafter called “AZIMUT”)

And

H MARINE INDONESIA with offices in Telesindo Tower, JL Gajahmada N.27A, Jakarta Barat,
11140, Indonesia (hereinafter referred to as "DEALER")

The parties agree that the following paragraph should be added to Article 2:

2.4 AZIMUT also authorises DEALER to use the trade name “Azimut Yachts Indonesia”
exclusively in order to perform the obligations and within the limits of this
Agreement, being understood that in such a case DEALER shall not in any way suggest to
the potential or actual customers the existence of any affiliation or franchising relationship
with AZIMUT.

The parties further agree that the following paragraph should be added to Article 13:

DEALER acknowledges that any intellectual property rights deriving under the law of
Indonesia from the use of the AZIMUT trademark and/or of the AZIMUT YACHTS
INDONESIA trade name exclusively inure to the benefit of AZIMUT, and undertakes to
refrain from making any claim in relation to such intellectual property rights after the
termination of this Agreement.

The Dealership Agreement shall not otherwise be modified.

Date

Signature Signature