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Intellectual Property Agreement Among Gunnar Foss

This is an actual contract by Marine Shuttle Operations.

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Sectors: Energy
Effective Date: March 31, 2000
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Exhibit 10.12


ADDENDUM NO. 2


TO


AGREEMENT REGARDING INTELLECTUAL PROPERTY


by and between


Per Bull Haugsoen, Risalleen 53, 0776 Oslo,


and


Marine Shuttle Operations AS, Luramyrveien 29, 4391 Sandnes (hereinafter referred to as "MSO AS")


WHEREAS:


- - Per Bull Haugsoen, Gunnar Foss and Offshore Shuttle AS entered
into an Agreement regarding Intellectual Property on 31 March
1998 ("the Agreement").


- - Offshore Shuttle AS has thereafter merged with MSO AS.


- - The Parties entered into an Addendum no. 1 to the Agreement on
31 March 2000.


- - Article 6 of t
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