Attachment O ITB No H Harbor Branch Clauses ADDITIONAL ASSURED AND WAIVER OF SUBROGATION CLAUSE

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1 Attachment O ITB No H Harbor Branch Clauses ADDITIONAL ASSURED AND WAIVER OF SUBROGATION CLAUSE It is hereby understood and agreed that, where required by contract, agreement or otherwise, the Assured is granted privilege to include hereunder other parties as additional Assureds, and to assume liabilities of, to grant released from liability to, and to waive the rights of subrogation hereunder of Underwriters hereon against any person whatsoever (including outside vessels and other owners). Wherever additional Assured or Loss Payees are added to this policy, it is specifically agreed: A. Such additional Assured or Loss Payees are included only with respect to such activities insured by this policy as would exist in the absence of the naming of additional Assureds or Loss Payees and which are properly the responsibility of the named Assured. Coverage hereunder shall in no way be considered extended by the inclusion of additional Assured or Loss Payees. B. The inclusion of additional Assureds or Loss Payees shall in no way increase the limit of liability hereunder. In the event of cancellation or change in policy coverage (unless specifically endorsed in writing to the contrary hereon), no obligation is imposed on underwriters to send notice of cancellation or change of coverage to an additional Assured or Loss Payee and notice to the original named Assured shall discharge all obligations of underwriters hereunder. The underwriters shall not be required to notify any additional named Assured or Loss Payees of any cancellation received from the original Assured hereon. AUTOMATIC ACQUISITION CLAUSE Subject to the terms, conditions and limit of liability of this policy, it is hereby understood and agreed that this policy covers automatically each vessel newly acquired, purchased, or bareboat chartered by the Assured, wherein the Assured is required to carry the insurance on the vessel(s). The Assured agrees to report additional vessels to subscribing underwriters within 30 days of acquisition and pay additional premium as required by underwriters. It is further agreed to annual reporting of vessels under 36 in length. The maximum Hull value any one vessel shall not exceed $1,000,000. The maximum P&I limit of Liability any one vessel shall be $1,000,000. At the underwriters option, a condition and value survey may be required on any newly acquired vessel(s), and the Assured shall comply with all reasonable safety recommendations made by the surveyor. If a survey is required by underwriters, it shall be done at the Assured s expense, unless otherwise agreed. EXTENDED RADIOACTIVE CONTAMINATION EXCLUSION CLAUSE WITH U.S.A. ENDORSEMENT Page 1 of 10

2 This clause shall be paramount and shall override anything contained in this insurance inconsistent therewith. 1. In no case shall this insurance cover loss, damage, liability or expense directly or indirectly caused by or contributed to by or arising from 1.1 ionizing radiations from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel 1.2 the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or other nuclear assembly or nuclear component thereof 1.3 any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter. 1.4 the radioactive, toxic, explosive or other hazardous or contaminating properties of any radioactive matter. The exclusion in this sub-clause does not extend to radioactive isotopes, other than nuclear fuel, when such isotopes are being prepared, carried, stored, or used for commercial, agricultural, medical, scientific or other similar peaceful purposes. RADIOACTIVE CONTAMINATION CLAUSE (USA ENDORSEMENT) This insurance is subject to the Extended Radioactive Contamination Exclusion Clause (March 1, 2003) above provided that If fire is an insured peril And Where the subject matter insured or, in the case of a reinsurance, the subject matter insured by the original insurance, is within the U.S.A., its islands, onshore territories or possessions And A fire arises directly or indirectly from one or more of the causes detailed in Sub-Clauses 1.1, 1.2, and 1.4 of the Extended Radioactive Contamination Exclusion Clause March 1, 2003 any loss or damage arising directly from that fire shall, subject to the provisions of this insurance, be covered, EXCLUDING however any loss damage liability or expense caused by nuclear reaction, nuclear radiation, or radioactive contamination arising directly or indirectly from that fire. CHEMICAL, BIOLOGICAL, BIO-CHEMICAL AND ELECTROMAGNETIC EXCLUSION CLAUSE This clause shall be paramount and shall override anything contained in this insurance inconsistent with. In no case shall this insurance cover loss, damage, liability or expense directly or indirectly caused by or contributed to or arising from an actual or threatened act involving a chemical, biological, bio-chemical or electromagnetic weapon, device, agent or material when used in an intentionally hostile manner. Page 2 of 10

3 SPECIAL CANCELLATION CLAUSE In the event that any underwriters hereon cease underwriting or accepting new business whether entirely or in the class of business which includes this policy or enters into a run-off arrangement or is subject to a scheme of arrangements or any action is taken in an jurisdiction for the suspension of payments by, or dissolution, winding up, termination of existence, liquidation, insolvency administration, or bankruptcy of an Assurer or a provisional liquidator, liquidator, trustee, administrator, receiver, administrative receiver or similar officer is appointed in respect of an Assurer or in respect of any part of its assets, or any authorization, approval or consent, license, exemption, filing, registration or notarization or other requirement necessary or desirable to enable the Assurer to carry on business is modified, revoked or withheld or does not remain or proves not to have been in full force and effect or at any time it is unlawful for the Assurer to perform any of its obligations under the policy or an intention is announce to take any of the foregoing actions then the Assured is entitled at its option to cancel that underwriter s participation in this policy as at any date thereafter. In that event, the premium due to such underwriter shall be the pro rata proportion of the premium to the date of cancellation and after deduction of claims under the policy. VESSEL CLASSIFICATION CLAUSE Warranted that the vessels hereunder at inception are to maintain their class with the applicable classification society during the entire policy term. EXPLOSIVES EXCLUSION It is hereby understood and agreed that this policy excludes all losses arising out of the use of explosives. NAVIGATIONAL WARRANTY Warranted that the insured vessels be confined to the coastal and inland tributary waters of the United States, Central America, South America and the Caribbean not north of 45 degrees North Latitude nor South of 10 degrees South Latitude. POLLUTION EXCLUSION Notwithstanding anything to the contrary contained herein, it is hereby understood and agreed that this insurance does not cover, nor shall any liability attached hereunder, for any loss, damage, cost, liability, expense, fine, or penalty of any kind, whether statutory or otherwise, imposed upon the insured arising directly or indirectly in consequence of the actual or potential discharge, dispersal, release, escape of smoke, vapors, soot, fumes, acids, alkalis, petroleum products or derivatives, liquids or gases, waste material, sewage or other toxic chemicals, irritants, contaminates or pollutants into or upon land, the atmosphere, or any watercourse or body of water. This exclusion shall be paramount and shall supersede and nullify any contrary position of the policy. Page 3 of 10

4 U.S. ECONOMIC AND TRADE SANCTIONS CLAUSE Whenever coverage provided by this policy would be in violation of any U.S. economic or trade sanctions such as, but not limited to, those sanctions administered and enforced by the U.S. Treasury Department s Office of Foreign Assets Control (OFAC), such coverage shall be null and void. Similarly, any coverage relating to or referred to in any certificates or other evidences of insurance or any claim that would be in violation of U.S. economic or trade sanctions as described above shall be null and void. SECTION 1. HULL & MACHINERY CONDITIONS: American Institute Hull Clauses (September 29, 2009) with lines and deleted American Institute Hull War Risks and Strikes Clauses 87C-108 PARTS REMOVED CLAUSE To pay, subject to the terms and conditions of this policy, all loss of or damage to the subject matter hereby insured occurring at any time during the currency of this insurance notwithstanding that any part(s) of the said subject matter be anywhere ashore under any circumstances (whether on quay, in buildings, sheds or elsewhere) and/or under repair and/or in transit (to and from the vessel or otherwise). R.O.V S AND SUBMERSIBLES CLAUSE In respect of R.O.V s and Submersibles it is agreed to extend coverage to include operations from third party vessels worldwide. Subject to operation of R.O.V s and Submersibles by Harbor Branch Oceanographic Institution at Florida Atlantic University crews/technicians, or held covered subject to terms to be agreed. Each operation to be advised to underwriters prior to commencement of operation. Including shipment by air and/or vessel and/or conveyance from Ft. Pierce to World and return. Limit is $1,000,000 any one shipment. It is noted and agreed that the submersibles are covered whilst stored ashore at the Assured s premises. Both transit and storage ashore are insured subject to the American Institute Cargo Clauses All Risks, including War Risks and Strikes etc. THEFT CLAUSE It is hereby understood and agreed that the peril of theft is added hereunder. This space left intentionally blank. Page 4 of 10

5 SECTION 2. PROTECTION & INDEMNITY INCLUDING COLLISION AND TOWER S LIABILITY CONDITIONS: Protection & Indemnity Form SP-23 (Revised 1/56) American Hull Insurance Syndicate War Risk and Protection & Indemnity Clauses, SP-22B (January 18, 1970) American Institute Pollution Exclusion Clause (P&I) and Buy Back Endorsement A (May 9, 2011) CREW, DIVERS, SCIENTISTS AND DOCTORS CLAUSE It is hereby understood and agreed that this policy includes any loss to crew members and divers howsoever caused. It is specifically understood that this policy in accordance with its terms and conditions covers scientists and/or passengers not acting as crew members while on the insured vessels and or as an observer in an insured submersible. It is hereby noted and agreed that coverage in respect of divers, scientists, passengers and employees is included hereunder while on the insured vessels and proceeding to/from insured vessels (waterborne). Coverage for crew, scientists and divers is extended while they are working on vessels not insured hereunder. Warranted that all divers are in possession of a current medical certificate issued by a diving medical practitioner. This warranty does not apply to employees operating submersibles. Coverage is included for two doctors while they are onboard vessels insured hereunder who are acting as medical consultants during diving operations. Medical malpractice claims are specifically excluded hereunder. This insurance is excess over any other valid and collectible insurance in place at the time of the loss. WATER SKIING EXCLUSIONS CLAUSE Warranted no coverage afforded during such time as the insured vessel(s) is being used for water skiing, aquaplaning or any similar sport in which persons or objects or both are towed. The insured vessel(s) will be deemed as being used for such sport and this exclusion shall apply from the time any persons or object begin to leave the insured vessel(s), or such activity commences, while in progress, and will continue until the persons or objects have been taken aboard the vessel(s) or elsewhere and such operations have ceased completely. PROTECTION & INDEMNITY DEDUCTIBLE CLAUSE Notwithstanding the terms and conditions of the forms contained in Section II of this policy, underwriters will not pay for: A. The first $25,000 for loss of life, or injury to, or illness of, any person; hospital, medical or other expense necessarily and reasonably incurred in respect of loss of life of, injury to, or illness of any member of the crew of the vessel named herein; costs and expense, incurred with underwriter s approval, of investigating and/or defending any claim or suit against the Assured arising out of a liability or an alleged liability of the Assured covered by this policy; Page 5 of 10

6 B. Nor for the first $100,000 or hull deductible, whichever is greater, of claims covered by any other parts of this policy. OCCUPATIONS DISEASE EXCLUSION Notwithstanding anything to the contrary contained in this policy, it is hereby understood and agreed that this policy is subject to the following exclusions and that this policy shall not apply to: A. Any liability of whatsoever nature of the Assured, whether for damages, maintenance and cure, fines and penalties or funeral expenses, arising to the loss of life, or injury to, or illness of, any person due to occupational and/or industrial diseases and/or injuries gradually contracted from the character of present or prior employment be in the service of the Assured or otherwise; and B. Any costs and expenses of investigating and/or defending any claim or suit against the Assured arising out of liability or alleged liability of the Assured excluded above. COLLISION/TOWER S LIABILITY CLAUSE If the vessel hereby insured shall come into collision with any other vessel, craft or structure, floating or otherwise, or shall cause any other loss or damage to her tow or to the freight thereof or to the property on board, and the Assured, or the surety, in consequence of the insured vessel being at fault, shall become liability to pay and shall pay by way of damages to any other person or persons any sum or sums, we, the underwriters, will pay the Assured or the surety, whichever shall have paid, such proportion of such sum or sums so paid as our subscriptions hereto bear to the value of the vessel hereby insured, provided always that our liability in respect of any one such casualty shall not exceed our proportionate part of the value of the vessel hereby insured. In cases where the liability of the vessel has been contested or proceedings have been taken to limit liability with the consent in writing, or a majority (in amount) of the underwrites on the Hull and Machinery, we will also pay a like proportion of the costs which the Assured shall thereby incur or be compelled to pay. When both vessels are to blame then unless the liability of the owners of one or both of such vessels becomes limited by law, claims under the Collision and Tower s Liability Clause shall be settled on the principle of cross-liabilities, as if the owners of each vessel had been compelled to pay to the owners of the other of such vessels such one-half or other proportion of the latter s damages as may have been properly allowed in ascertaining the balance or sum payable by or to the Assured in consequence of such casualty. It is hereby further agreed that the principles involved in this Clause shall apply to the case where two or more of the vessels involved are the property, in part or in whole, of the same Assured, all questions of responsibility and amount of liability as between such vessels being left to the decision of a single arbitrator, if the parties can agree upon a single arbitrator, or failing such agreement, to the decision of arbitrators, one to be appointed by the Assured and one to be appointed by a majority (in amount) of the underwriters on Hull and Machinery; the two arbitrators so chosen to choose a third Page 6 of 10

7 arbitrator before entering upon the reference, and the decision of such single arbitrator or of any tow or such three arbitrators, appointed as above, to be final and binding. Provided always that this Collision and Tower s Liability Clause shall in no case extend to any sum which the Assured or the surety may become liable to pay, or shall pay: I II For loss, damage or expense to vessel(s) in tow owned (other than vessel(s) bareboat chartered, managed or operation by the Assured and/or its affiliated and/or subsidiary companies and/or corporations, and to cargo, owned by the Assured and/or its affiliated and/or subsidiary companies and/or corporations, on board vessel(s) in tow of the vessel hereby insured; or In consequence of, with respect to or arising out of: (A) (B) (C) (D) Removal or disposal of obstructions, wrecks or their cargoes under statutory powers or otherwise pursuant to law; Cargo, baggage or engagements of the insured vessel; Loss of life, personal injury or illness; The discharge, spillage, emission, or leakage of oil, petroleum products, chemical or other substances of any kind or description whatsoever. Provided, further that Exclusion II(D) shall not apply to actual physical loss of or damage to such substances (if liability therefore is otherwise covered under the attached policy) except to the extent that such loss or damage arises out of any action taken to avoid, minimize or remove any discharge, spillage, emission or leakage described in Exclusion II (D). SECTION 3. SHIP REPAIRER S / WHARFINGER S LEGAL LIABILITY CONDITIONS: Ship Repairers Liability Clauses (November 3, 1977) LIMIT OF LIABILITY CLAUSE The maximum limit of liability of subscribing underwriters on account of any one accident or occurrence under this section including legal and/or investigative expenses shall be $1,000,000. DEDUCTIBLE CLAUSE The deductible under the Ship Repairer s and Wharfinger s Liability form shall apply separately, but only one deductible to apply in the event of a claim involving both coverages arising out of the same occurrence. PUNITIVE DAMAGE EXCLUSION Notwithstanding anything to the contrary contained in this policy, it is hereby understood and agreed that this policy excludes all liability of any nature for fines, penalties, punitive or exemplary damages, including treble damages resulting from multiplication of compensatory damages. Page 7 of 10

8 WHARF OWNERS LIABILITY RIDER 1) In consideration of the payment of the premium and subject to the limits of liability, exclusions, conditions and other terms of this policy, Subscribing Underwriters agree to pay on behalf of the Assured all sums which the Assured shall become obligated to pay by reason of the liability imposed upon him (them) by law for: (a) Physical loss of or damage to vessels, their equipment, cargo, freight, and other interests on board (including the cost or expense of or incidental to the removal of wreck of such property), the property of others, while such property is in the custody of the Assured at their landing and mooring facilities; (b) Any other physical loss of or damage to the property of others arising out of the custodianship of the vessels described in clause 1 (a); (c) Loss of life or personal injury arising out of the custodianship of the vessels described in clause 1(a) but always excluding liability to: (i) Employees of the Assured, (ii) Employees of the Assured s sub-contractors and (iii) Any person in the event that the occurrence takes place on the premises of the Assured. 2) With respect to the inclusion of the Assured s liability for the cost or expenses of or incidental to the removal of wreck as set forth in clause 1 (a), it is agreed that such costs or expenses shall be reduced by the net proceeds of salvage that may inure to the benefit of the Assured. It is also a condition of this coverage that every reasonable effort shall be made to have the Corps of Engineers, United States Army assume responsibility and expenses for removal of such wreck before claim is made hereunder. 3) This insurance attaches from the moment the said vessels become at the risk of the Assured at premises as specified above and covers continuously thereafter until removed from said premises or until no longer at the risk of the Assured, whichever shall first occur. However, the event of temporary removal of a vessel to within five miles of the premises specified above in an emergency or other unusual situation and provided that the Assured remains in the position of custodian as respects such barges, this policy will continue to cover the Assured s liability. 4) Notwithstanding anything to the contrary contained herein, it is expressly understood and agreed that this insurance does not cover any liability: a) Assumed under contract express or implied; b) For demurrage, loss of time, loss of Charter or similar items; c) For any loss or damage to property owned, leased or rented by the Assured; d) For loss, damage or expense arising out of the operations of any vessel or craft owned or operated by the Assured or any affiliated or subsidiary concern or individual or party; e) For loss, damage or expense which may be recoverable under any other insurance inuring to the benefit of the Assured except as to any excess over and above the amount recoverable thereunder; f) For loss, damage or expense caused by or resulting from strikes, lock-outs, labor disturbances, riots, civil commotions or the acts of any person taking part in such occurrence or disorder; g) For loss or damage caused by or resulting from: i) Hostile or warlike action in time of peace or war including action in hindering, combating or defending against an actual, impending or expected attack, (1) by any government or sovereign power (de jure or de facto) or by any Page 8 of 10

9 authority maintaining or using military, naval or air forces; or (2) by military, naval or air forces; or (3) by an agent of any government, power, authority or forces; ii) Any weapon of war employing atomic fission or radioactive force whether in time of peace or war; iii) Insurrection, rebellion, revolution, civil war, usurped power, or action taken by governmental authority in hindering, combating or defending against such an occurrence, seizure or destruction under quarantine or customs regulations, confiscation by other of any government or public authority, or risks of contraband or illegal transportation or trade. 5. Subscribing underwriters shall not be liable for more than $1,000,000 on account of claims, costs and expenses arising out of any one disaster or casualty under all coverages combined. 6. No claim shall be payable under this policy unless the aggregate liability of the Assured arising out of the same accident or occurrence, and insured against hereunder, exceeds the sum of $5,000 and this sum shall be deducted from the amount payable hereunder on account of liability arising from each such accident or occurrence. 7. It is further stipulated and is a consideration for this insurance that in the event of any occurrence which may result in loss, damage and/or expense, for which Subscribing Underwriters is or may become liable under this Insurance, notice thereof shall be given to Subscribing Underwriters as soon as practicable, and further, that any and every process pleading and paper of any kind relating to such occurrence shall be forwarded promptly to Subscribing Underwriters. 8. In respect of any accident or occurrence likely to give rise to a claim under this insurance, the Assured is obligated to and shall take such steps to protect its (and Subscribing Underwriters) interest as would reasonably be taken absence of this or similar insurance. This insurance, however, shall be void and of no force or effect, in respect of any accident or occurrence, in the event the Assured shall make or shall have made any admission of liability either before or after such accident or occurrence or in the event the Insured shall interfere in any negotiations of Subscribing Underwriters for settlement or in any legal proceedings in respect of any claim for which subscribing Underwriters is or may be liable under this insurance. 9. It is expressly understood and agreed that no liability shall attach under this insurance until the liability of the Assured has been determined by final judgment against the Assured or by agreement between the Assured and the Plaintiff with the written consent of Subscribing Underwriters; in the event the Insured shall fail or refuse to settle any claim as authorized by Subscribing Underwriters, the liability of Subscribing Underwriters to the Assured shall be limited to the amount for which settlement could have been made. 10. Whenever required by Subscribing Underwriters, the Assured shall aid in securing information, evidence, obtaining of witnesses, and cooperate with Subscribing Underwriters (except in a pecuniary way) in all matters which Subscribing Underwriters may deem necessary in the defense of any claim or suit or appeal from any judgment in respect of any occurrence as hereinbefore provided. 11. The cost of defending any suit against the Assured on any claim based on a liability of the Assured covered by this insurance, shall be payable by Subscribing Underwriters if the amount of the claim hereunder exceeds the Page 9 of 10

10 amount deductible under this policy, but Subscribing Underwriters shall not be liable for the cost or expense of prosecuting or defending any suit unless the same shall have been incurred with the written consent of Subscribing Underwriters. Subscribing Underwriters, however reserves the right to conduct the defense of any actions or suites at their own expense. The cost and expense of prosecuting any claim in which Subscribing Underwriters shall have an interest by subrogation or otherwise shall be divided between the Assured and Subscribing Underwriters, proportionately so the amounts which they would be entitled to receive respectively, if the suit should be successful. 12. Subscribing Underwriters shall be subrogated to all rights which the Assured may have against any other person or entity, in respect of any claim or payment made under this policy, to the extent of such payment, and the Assured shall, upon the request of Subscribing Underwriters, execute all documents necessary to secure to Subscribing Underwriters such rights. 13. No claim or demand against Subscribing Underwriters under this policy shall be assigned or transferred, and no person, excepting a legally appoint Receiver of the property of the Assured, shall acquire any rights against Subscribing Underwriters by virtue of this insurance without the expressed consent of Subscribing Underwriters. 14. No action shall lie against Subscribing Underwriters for the recover of any loss sustained by the Assured unless such action be brought against Subscribing Underwriters within one (1) year after the final judgment or decree is entered in the litigation against the Assured, or in case the claim against Subscribing Underwriters accrues without the entry of such final judgment or decree, unless such action be brought within one (1) year from the date of the payment of such claim; provided, however, that where such limitation of time is prohibited by the laws of the State wherein this policy is issued, then and that event no action under this policy shall be sustainable unless commenced within the shortest limitation permitted under the laws of such State. 15. All other terms and conditions of policy remaining unchanged. This space left intentionally blank. Page 10 of 10