The Offshore Pollution Liability Association Ltd

OFFSHORE POLLUTION LIABILITY AGREEMENT ("OPOL") as at 1st January 2010

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CLAUSE IX - ARBITRATION

All disputes arising out of or in connection with this Contract shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one or more arbitrators appointed in accordance with the said rules. The place of arbitration shall be London. 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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