THIS REIMBURSEMENT AGREEMENT is made effective the 1st day of February, 2002, by and between
DICKIE WALKER MARINE, INC., a California corporation ("DWM"), and GERALD W. MONTIEL,
RECITALS AND REPRESENTATIONS
WHEREAS, DWM is engaged in the design, manufacture, marketing and distribution of a line of boating apparel,
accessories and decorative items under the Dickie WalkerTM brand name.
WHEREAS, Montiel is Chairman of the Board, Chief Executive Officer, Chief Marketing Officer and a majority
shareholder of DWM.
WHEREAS, the Dickie WalkerTM brand name is inspired by a sixty-three foot, wooden-hulled Nova Scotian
trawler named "The Dickie Walker."
WHEREAS, Montiel is the sole owner of The Dickie Walker and has title to The Dickie Walker free and clear of
all liens, encumbrances and claims of others.
WHEREAS, to support and permit the development of the Dickie WalkerTM brand name, DWM desires to
have available, and Montiel desires to make available to DWM, The Dickie Walker for DWM corporate events,
photo shoots and other promotional events ("DWM corporate events"), in exchange for the payment of certain
costs and expenses.
NOW, THEREFORE, in consideration of the mutual covenants and promises set forth herein, and for other good
and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
1. Term. Unless sooner terminated in accordance with the provisions of this Agreement, this Agreement shall
remain in full force and effect for an initial term of ninety-nine (99) years (the "Initial Term"), commencing on the
effective date of this Agreement. DWM shall be entitled to renew this Agreement, at its option, for additional
ninety-nine year terms ("Renewal Terms") by providing notice to Montiel at least ninety (90) days prior to the
expiration of the Initial Term and each Renewal Term.
2. Availability of The Dickie Walker for DWM Corporate Events and Reimbursemen