Contract for Electronic System Development

Project: Development of CBM System for HIEMS-DF Engine

Price: 234,000,000 WON

Period: March 1^st 2017 ~ January 31^st 2019 (23 Months)

Payment Terms

Deposit	When Contracted	₩	66,000,000	28	%
First Middle Payment	2017 September	₩	75,000,000	32	%
2nd Middle Payment	2018 April	₩	69,750,000	30	%
Rest	2019 January	₩	23,250,000	10	%

Installation Location: Hyundai Heavy Industries

Hyundai Heavy Industries Co., Ltd. (“The Customer”) and e-MARINE Inc. (“The Provider”) agree to execute all matters written in the Contract and each party keeps a signed copy.

March 29^th 2017

The Customer

Hyundai Heavy Industries Co., Ltd.

1000, Bangeojinsunhwando-ro, Dong-gu, Ulsan, Republic of Korea

The Provider

e-MARINE Inc.

15-14, Samsan-ro 308beon-gil, Nam-gu, Ulsan, Republic of Korea