vogel-employmentagreemen

A-3 6. This Release shall be governed and construed in accordance with the laws of New York, without reference to the principles of conflicts of law thereof. 7. Executive acknowledges that Sections 5-12 of the Employment Agreement will continue to survive, and remain in full force and effect, following his execution of this Release. IN WITNESS WHEREOF, Executive, the Company and the Parent have executed the Release as of the date and year first written above. EAGLE SHIPPING INTERNATIONAL (USA) LLC By: _________________________________ Name: Title: EAGLE BULK SHIPPING INC. By: _________________________________ Name: Title: EXECUTIVE ____________________________________ Name: Gary Vogel