Letter Agreement for Sale of Genmar Shares by Peter C. Georgiopoulos to General Maritime Ship Holdings Ltd.

Summary

This agreement, dated May 25, 2001, is between Peter C. Georgiopoulos, the sole stockholder of General Maritime Corporation (Genmar), and General Maritime Ship Holdings Ltd. Georgiopoulos agrees to sell all outstanding shares of Genmar to General Maritime Ship Holdings Ltd. under terms substantially similar to those in the referenced Contribution Agreements and the attached Plan of Recapitalization. The agreement ensures the transfer of ownership of Genmar, with terms aligned to existing agreements involving related Cayman Islands partnerships.

EX-2.15 17 a2050304zex-2_15.txt EXHIBIT 2.15 Exhibit 2.15 May 25, 2001 General Maritime Ship Holdings Ltd. 35 West 56th Street New York, New York 10019 Re: Letter Agreement Ladies and Gentlemen: This letter will confirm our agreement that as the sole stockholder of General Maritime Corporation, a Marshall Islands Corporation ("Genmar"), I will sell to you all of the outstanding shares of stock of Genmar pursuant to the Plan of Recapitalization annexed to the Contribution Agreements and otherwise upon terms substantially equivalent to those Contribution Agreements. "Contribution Agreements" means the Contribution Agreements to which you are a party relating to the Cayman Islands limited partnerships for which affiliates of Genmar serve as managing general partner. Very truly yours, /s/ Peter C. Georgiopoulos ------------------------------------------ Peter C. Georgiopoulos Accepted and Agreed: General Maritime Ship Holdings Ltd. By: /s/ John P. Tavlarios --------------------------------- Name: John P. Tavlarios Title: President