SEAFARER EMPLOYMENT CONTRACT

[01.10.2021]

Between:

HILI SHIPPING COMPANY LIMITED

- and -

[Vasilija Djuranovic]
AN AGREEMENT BETWEEN:

Hili Shipping Company Ltd. a limited liability company registered in Malta under company registration
number (C72484) at Nineteen Twenty Three, Valletta Road, Marsa MRS 3000, Malta, represented
hereon by Carmelo Hili, (the “Company");

and

Vasilija Djuranovic holder of Passport Number K54ZE1133 residing at Radanovici bb, 85318,
Montenegro, born in Montenegro on 12.05.1994 (the “Employee")

IT IS HEREBY AGREED as follows:

1. EMPLOYMENT

The Employee shall be employed as Cook/Stewardess within the Company effective as of 5

October 2021 for an indefinite duration.

The first six months of the Employee’s employment shall be a probationary period and this
Agreement may be terminated by either party without assigning any reason.

The Employee warrants that he/she is in possession of all certifications, permits, and has
undergone the necessary medical and health checks to enable him to carry out his duties in
terms of this Agreement. The Employee shall, at the request of the Company, provide the
documentation required as evidence of the warranty given in terms of this clause.

2. PLACE OF WORK

The Employee shall normally perform the duties assigned under this Agreement upon the
vessel M/Y Annabel or such other vessel as the Company may from time to time reasonably
direct.

The Employee shall, in the performance of his duties, travel to such place or places as the
Company may direct from time to time.

3. DUTIES

As cook/stew, the Employee shall take complete charge of kitchen, safeguard passengers
when it comes to food H&S and H&S in general, maintain and cleanliness of the vessel and
support the other crew members where needed.

In addition to the general duties listed in the preceding clause, the Employee shall also
perform those duties listed in Annex 1 hereto, as well as such duties as the Company may
reasonably direct/require from the Employee from time to time.

The Employee shall perform the said duties for any existing and future associated companies
of the Company (whether within Malta or abroad) as reasonably required from time to time.

Unless otherwise agreed between the Company and the Employee, the Employee shall report
on all matters affecting their employment with the Company.

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4. HOURS OF WORK

For the avoidance of any doubt, the Salary is a "Consolidated Salary", which is based over a 7
day week, based on an average on a minimum of 40 hours, additional hours of work and
working outside the normal working day, which duties will be carried out within the
remuneration of the designated salary

5. REMUNERATION, REIMBURSEMENTS, AND ALLOWANCES

The Company shall pay to the Employee a gross salary of €3,000 per month, payable monthly
in arrears on or before the last working day of every month, making all statutory deductions
from such amount.

The Employer is hereby authorised to make deductions from the said gross salary as are
necessary to pay income tax payments, social security contributions, as well as any other
similar payments due by the Employee in terms of Maltese legislation. The Seafarer shall
indemnify and hold the Employer and Owner harmless in respect of any failure on his
part to declare income and/or pay taxes whenever and where so arising.

The Company will reimburse the Employee for all reasonable expenses incurred by the
Employee in connection with the employment provided that prior written approval of the
Company is obtained and / or in accordance with the Company policies, upon production to
the Company of satisfactory evidence of the payment of those expenses as the Company may
require from time to time.

The Employee shall be entitled to receive the following allowances:

If the company elects to pay the Seafarer any benefits or other gratuities, such payments
will always be made on a voluntary basis subject to the condition that even repeated
payment will not create any legal right of the Seafarer to claim such payment, neither in
respect of the cause or the amount, not for the past or for the future.

The Seafarer shall maintain his Salary as private and confidential.

6. ANNUAL, SICK, INJURY AND OTHER LEAVE

The Employee shall be entitled to annual leave in accordance with law. Such leave shall be
taken at such dates as the Company considers most convenient having regard to the
exigencies of the Company’s business and subject to prior authorisation, in accordance with
the applicable Company policies and procedures. Any vacation leave shall be taken as and
when the schedule permits.

If for any reason the Employee does not avail of all of his leave entitlement in any calendar
year, it shall be at the Company’s sole discretion whether to transfer such leave entitlement
unavailed of, or any part of it, to the subsequent year or make any payment or other allowance
in lieu. In the absence of any agreement to the contrary, accrued vacation leave shall not
transfer to the following year.

The Employee shall be entitled to sick, injury and other leave in accordance with law. For any
absence due to illness of two (2) or more consecutive days, the Employee must provide a
certificate from a medical doctor confirming his sickness. The Employee also consents to being

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 examined by a medical practitioner elected by the Company as may be required from time to
time.

Other entitlements shall be in accordance with current legislation in force in Malta from time
to time.

7. HEALTH AND INSURANCE

The Employee shall be covered under the insurance policy of the vessel when undertaking his
duties.

The Employee warrants that the medical certificate passed on to the Company has been issued
by a duly qualified medical practitioner certifying that the Employee is fit to be employed in
his capacity and to carry out the duties detailed herein and detailed in Annex 1. The Employee
shall ensure that the medical certificate is up to date and renewed as required from time to
time. The medical certificate shall include the name and surname, nationality, age and
relevant identity document number such as the sea service record book or passport number
and shall attest:

that the hearing and sight of the Employee examined and, in the case of a
seafarer to be employed in the deck department (except for certain specialist
personnel, whose fitness for the work which they are to perform is not liable to
be affected by defective colour vision), his colour vision, are all satisfactory; and

that the seafarer is not suffering from any medical condition likely to be
aggravated by, or to render the seafarer unfit for, service at sea or likely to
endanger the health of other persons on board.

The medical certificate shall include the period of validity which shall be a maximum of 6 years
with respect to colour and vision and two years in any other circumstance.

8. COMPANY POLICIES

The Employee agrees to abide by any policies that the Company may from time to time decide
to implement, and which are brought to his knowledge. Such policies may cover, without
limitation, data protection, social media use, customer service, corporate responsibility, use
of the equipment and facilities and dress code.

The Employee shall not consume or use alcohol, intoxicants, narcotics, or controlled
substances in any form and shall in not, in any event, operate the vessel under the influence
of intoxicants, narcotics or controlled substances, even where such substances are prescribed
by a licensed medical professional, unless such substances do not hinder the Employee’s
ability to perform his duties.

The Employee undertakes not to accept any gift, gratuities, payment or other incentives from
suppliers of the Company.

The Employee agrees to attend any training as may be directed by the company from time to
time, whether in Malta or abroad.

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9. TERMINATION

It is understood and agreed that any of the following events (which are not exhaustive) shall
constitute good and sufficient cause to terminate this Agreement and the Employee’s
employment immediately and without liability for compensation or damages, namely if the
Employee:

(a) commits a breach of a material provision of this Agreement; and/or

(b) is guilty of any misconduct or wilful neglect in the discharge of his duties under this
Agreement, abandons his post or is, in the reasonable opinion of the Company, negligent
and incompetent in the performance of his duties; and/or

(c) fails or ceases to meet the requirements of any regulatory body whose consent,
authorisation or permit is required to enable him to undertake all or any of his duties in
terms of this Agreement, or is otherwise guilty of a serious breach of the rules and
regulations of such regulatory body or of any compliance manual of the Company; and/or

(d) is guilty of any fraud or dishonesty or acts in any manner which, in the opinion of the
Company, brings or is likely to bring the Employee or the Company into disrepute or is
materially adverse to the interests of the Company; and/or

(e) is guilty of a serious breach of any rules and/or policies issued by the Company from time
to time; and/or

(f) is convicted of any criminal offence other than minor traffic offences or an offence which,
in the opinion of the Company, does not affect the Employee’s employment with the
Company.

(g) is incapable of performing his duties, as a result of an injury on duty, for a period
exceeding twelve (12) months; and

In the event of termination of the Employee’s employment by the Company after the lapse of
the probation period and other than for good and sufficient cause (as regulated in terms of
clause 9.1 above), the Company shall pay the Employee the equivalent of 3 months salary by
way of preliquidated damages. The preliquidated damages shall not be subject to revision by
the Industrial Tribunal or a Court of law and no other amounts shall be due to the Employee
by way of damages suffered which are hereby expressly waived by the Employee.

In the event of termination of this Agreement by either of the parties during the probation
period, the notice periods set out by law shall apply.

In the event of termination of this Agreement by the Employee or by the Employer in the event
of redundancy, a notice period of three (3) months shall apply.

If the Employee abandons the service of the Company prior to completing his notice or if the
Employee fails to provide notice, he shall be liable to pay the penalty equal to half the wages
that would be payable in respect of the unexpired period of notice.

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10. EFFECTS OF TERMINATION

On termination of the Employee’s employment with the Company, howsoever arising, the
Employee shall immediately: (i) deliver to the Company all documents, books, materials,
records, correspondence, papers and information (on whatever media and wherever located)
relating to the Company as well as any access cards/keys and any other property of the
Company which is in his possession or control.

If the Employee’s employment is terminated at a port other than the port of Malta, where
such termination is not caused by or through any fault or act or omission of the Employee, the
Company shall make such arrangements as may be necessary and pay all reasonable expenses
incurred for the return of the Employee to Malta.

11. CONFIDENTIAL INFORMATION AND RESTRICTIONS

The Employee shall not (except in the proper course of his duties), either during the term of
the employment or at any time after its termination (howsoever arising), use Confidential
Information for any purpose or disclose to any third party any Confidential Information.

The obligation undertaken by the Employee pursuant to the provisions of this clause 11 shall
indefinitely continue to apply subsequent to the termination of the Employee’s employment
with the Company.

For the purposes of this clause 11, Confidential Information means all information being of a
confidential nature and which relates to the business, assets or affairs of the Company or any
associated company which comes to the Employee’s knowledge or possession (or which ought
reasonably to have been expected to have come to the Employee’s knowledge or possession)
during the course of or in connection with Employee’s employment with the Company or any
associated company.

12. PRIOR AGREEMENTS

This Agreement represents the entire agreement between the Employee and the Company
and supersedes and substitutes all previous contracts of employment, express or implied,
between the Company and the Employee which shall be terminated by mutual consent as
from the Effective Date.

13. VARIATION

Save for any changes required to this Agreement pursuant to any change in law or regulation,
no variation or amendment of this Agreement or oral promise or commitment related to it
shall be valid unless committed to writing and signed by or on behalf of both parties.

14. NOTICES

Any notice required to be given under this Agreement shall be given in writing and shall be
delivered by hand or sent by post to the last known address of the addressee or to such
address as may be notified in writing from time to time by such addressee to the other party
as its address for the service of notices.

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15. SEVERABILITY

If a provision of this Agreement is or becomes illegal, invalid or unenforceable, this shall not
affect the validity or enforceability of any other parts of this Agreement.

The restrictions and obligations set out in this Agreement are separate restrictions/obligations
and are each considered fair and reasonable and necessary between the Company and the
Employee; nevertheless if one or more of the restrictions/obligations is held to be invalid for
any reason whatsoever, but would be valid if part of it were deleted or its period of
applicability were reduced or the range of activities or geographical extent were reduced or
curtailed, then the restriction shall apply and be enforceable subject to any such deletion,
reduction or curtailment as maybe necessary.

16. INTERPRETATION

The headings in this Agreement are inserted for convenience only and shall not affect the
construction of this Agreement.

17. GOVERNING LAW

This Agreement shall be construed and governed in all respects in accordance with the laws
of Malta as in force from time to time.

The Employee and the Company shall work together to settle any dispute amicably between
themselves before referring to the Industrial Tribunal or Courts however, should the parties
to this Agreement fail to settle the matter amicably, then it shall be subject to the exclusive
jurisdiction of the competent courts and tribunals of Malta.

________________________ ________________________
Carmelo Hili Vasilija Djuranovic
for and on behalf of
Hili Shipping Company Ltd