COASTERS MARITIME CORP.

CONTRACT OF EMPLOYMENT It is mutually agreed today (Date: 19/03/2012) between: The Managers / operators of M/V NIKOS M/s : COASTERS MARITIME CORP , GREECE And The Seaman : ASHISH MEHRA Passport No: H 4247270 Date of Birth : 15/11/1988 1. Rank : ENGINE CADET 2. Salary : 300 USD 3. Duration of contract: 12 months with option to prolong it to 2 months for owner option. A. Probation period. There will be a probationary period of two (2) months during which the Company / Master reserves the right to dismiss the seaman on an eight days notice, if the Master is not satisfied with the services of the specific crew member. In such a case the Master shall have the right to recover from the seamans balance of wages the cost of repatriation and substitution of dismisses crew member. However, the employment of the seaman may be discontinued at any time without prior notice if he: A. Miss presentation of I.S.M. documents / correspondence/ B. Contraband / Smuggling. C. Assisting Stowaways. D. Drunkenness or consumption of alcoholic beverages on duty or onboard. E. Not reporting for duty in time after shore leave. F. Willful loss and / or cargo. G. Willful non-compliance with the local regulations of the country or port of call. H. Non-compliance with the companys rules and policy and rules of vessels flag. I. If seaman qualifications / details are not same and as per telex from seamans agent and especially if the seaman does not speak English to communicate with other crew and if not respond adequately to the tasks of specification.

(B) The Master is obliged to enter the dismissal immediately into the Log Book and furnish the crew member concerned with a copy clearly stating the person(s) for his dismissal.

(C) On all the above cases the dismissed crew member will have to pay for his repatriation expenses as well as for the joining expenses of his substitute. Owners have also the right to sign of the seaman at any time provided at any reason. At this case owner pays salary for the period seaman worked and owner covers all repatriation expenses. If the seaman is repatriated prior to completing 7 months at his request at 30 days notice or he is dismissed by owners for any of the below mentioned reasons, his repatriation expenses and the air ticket of his substitute will be paid by the seaman :

4. The seaman will cover his ticket from his place to the port he will sign on. The company will pay for his repatriation ticket after the completion of contract time. Any commission will be paid directly from the seaman to his agent (Dynamic) from his salary.

5. Payment of wages every month If the law of the country where the ship does not permit payment in USD then the payment will be made at the next port where permitted. The wages start from the date signing on the vessel and cease the date of signing off.

6. The seaman can not receive cash advance exceeding his earned wages In any case the seaman has the obligation to keep to his wage account always as balance one whole monthly wage or minimum 500 USD as security to cover seaman repatriation expenses in case of dismissal as per clause 2 or to cover fine by authorities to the seaman or to the vessel for his fault.

7. Sickness Injury as per P + I club rules, medical / dental treatment as per P + I rules and is limited to extraction only. In case of arrest, damage to the vessel or cargo, even in case of total loss etc, including the loss of baggage and personal effects, all compensation as per P + I rules.

8. In case any dispute shall be judged exclusively according to the laws of ship flag.

9. Commencement of employment on date of embarking on board. The seaman shall work overtime at any time as ordered by the Master. The seaman knows that the vessel can possibly makes trips between Mediterranean and Persian Gulf and they will not have any objection.

10. In case the vessel sale, change owners or name of flag, arrest, damage to the vessel or cargo total lost etc. owners have not any obligation for extra payment or compensation but they have the right to transfer the seaman to other vessel.

11. In case the vessel is carrying dangerous goods as specified into IMDG code then seaman is entitled to receive 50% bonus over his salary.

OWNER OR MASTER

THE SEAMEN