INTERNATIONAL CATAMARAN CHALLENGE TROPHY (ICCT)

historically known as the "Little America's Cup"

BluRimini Srl

Via Flaminia 82/a

47900 Rimini ITALY

BluRimini Fax: 0039 0541 392744

COMPETITOR AGREEMENT

The ____________________________ has simultaneously formally challenged for the right to compete for the International Catamaran Challenge Trophy, presented by a Deed of Gift from the Sea Cliff Yacht Club, as amended effective December 04, 2004, a copy of which has been provided to our organization.

The appropriate officers of our organization have read the Deed of Gift and are familiar with its terms and conditions. In accordance with paragraph 20 of the Deed, the undersigned, an officer of ________________________________, authorized to sign on behalf of such organization, does hereby state and confirm the following:

1. __________________________ is a properly organized corinthian yacht club or sailing association located at _________________________________________.

2. The organization is affiliated with the International Sailing Federation (ISAF) and/or ___________________________, this country’s national yachting organization.

3. The challenging yacht shall be crewed by yachtsmen from this country.

4. __________________________ shall faithfully fulfill all the terms, conditions and obligations of the Deed of Gift required of a challenger and/or a defender.

In witness whereof, the undersigned, a duly authorized officer, has set his hand and

Seal on behalf of ____________________________, this day of

2005.

__________________________

by: __________________________