The Offshore Pollution Liability Association Ltd

OFFSHORE POLLUTION LIABILITY AGREEMENT ("OPOL") as at 1st August, 1996

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CLAUSE IX - ARBITRATION

In the event of a dispute between a Claimant and a Party as to the application or interpretation of this Contract, the matter shall, upon request of either the Claimant or the Party involved, be submitted to arbitration in London in accordance with the rules of the International Chamber of Commerce before one or more arbitrators appointed in accordance with the said rules. When a number of such disputes arise out of the same Incident, they may at the request of the Party involved be consolidated into one such arbitration.

Arbitration, as above-provided, shall be the exclusive means of disposing of such disputes.

In making any award pursuant to this Contract, the arbitrator or arbitrators shall be bound by all the provisions hereof and shall not have any power or authority to vary or increase the provisions of the Contract or any rights or obligations thereunder.

CLAUSE X - AMENDMENTS

This Contract may be amended by Resolution adopted at a General Meeting of the members of the Association convened and conducted in accordance with the Articles of Association of the Association upon a vote in which at least 75% of the votes cast are in favour of said Resolution, save that an amendment with respect to the denomination of a State as a Designated State may be adopted upon a vote in which a simple majority of the votes cast are in favour of such amendment. A Party who votes against any such Resolution shall thereupon have the option, to be exercised within sixty days of the said Resolution by written notice to the Association, to withdraw from this Contract and thus terminate its status as a Party without, however, affecting its rights and liabilities accrued at the time of its withdrawal.

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