PREMIUM
SHARE
AGREEMENT

PACIFIC TUNA VENTURES
LIMITED PARTNERSHIP

Gunther W. Mothes, Takyo Ishiguro, Los Pescadores, LLC #4, Los Pescadores, LLC #5, Beverly Seltzer, John Scruggs, Jim Hogan, Mark Stein and Mike Graham, Manfred Schiruska, Dumitru & Lynn Miclea, Luis Bugarin, Don Coffman, referred to as General Partners, and 150 shareholders made up of 30 Common Shares, 60 Special Common Shares, 15 Preferred Shares, and 45 Premium Shares, all held by members that, as Limited Partners, individually and collectively agree.....

That they herewith form a Limited Partnership under the laws of the Republic of the Marshall Islands.

The Limited Partnership shall engage in the business of salt water sport fishing and commercial seafood marketing pursuant to the formation of the Limited Partnership.

The above Limited Partnership shall be formed upon receipt of initial investment funds sufficient to begin actual operations, and the term of partnership will begin at this time and will continue for a period of five (5) years, when it will dissolve under the terms of this agreement.

The name of the partnership shall be "PACIFIC TUNA VENTURES" (PTV) .

The principal office of the partnership will be located at: 240 Suffolk Street, Corona, Ca 92882, and additional or substitute offices may be agreed upon, from time to time, by the parties.

Each Premium Share Partner has, or will, contribute $10,000 per share. Limited Partners shall not be required to contribute any further funds or additional capital. Limited Partners are legally liable to the Limited Partnership only for the amount contributed. No maintenance fees, yearly dues, or any other further funding will be required from the Limited Partners. Total capitalization of the Limited Partnership will be $1,000,000 plus the funds contributed by the General Partners.

Each partner shall have a capital account that includes invested capital, plus that partner's allocations of net income, minus that partner's allocations of net loss and share of distributions.

Net income and loss for all of the Premium Shares is allocated from a 38% portion of the vessel share.

Unless otherwise noted in this agreement, the General Partners shall manage the partnership business and have exclusive control over the partnership business, including the power to sign deeds, notes, mortgages, deed of trust, contracts, leases, and direction of business operations.

The Limited Partners shall have all powers that may lawfully be granted to Limited Partners under the laws of the Republic of the Marshall Islands.

ACCOUNTING:

That the Partnership's tax or fiscal year shall be a calendar year. The General Partner shall make any tax election necessary for the completion of the Partnership's tax return.

A Limited Partner may assign his/her rights to receive distributions, net income and net loss, to any person without causing dissolution of this Partnership. No assignment will be effective until the General Partner is notified in writing of the same.

LIMITED PARTNERSHIP RESERVES:

That the General Partners of Pacific Tuna Ventures shall maintain a reserve account with a minimum balance of $100,000 from initial capital, which shall be placed in a separate interest bearing account. The General Partners of Pacific Tuna Ventures, once the partnership begins actual operations, shall establish a reserve account. 50% of profits from operations shall be deposited in this account until it reaches the sum of $300,000. Once this sum is reached, deposits into the account will revert to 10% of profits and remain at that level for the life span of the Limited Partnership (5 years).

This account will be invested for the benefit of the Limited Partners. Upon dissolution of the Limited Partnership, funds from the above account will be dispersed to the Limited Partners according to the amount of shares individually held.

The above account is separate from quarterly dividends paid out to Limited Partners during the lifetime of the Limited Partnership. The reserves shall accumulate, and may only be invaded by the General Partner upon the following occurrences: Capital falls below $75,000; and may only be used for the following purposes: Payroll, and past due accounts payable.

ATTENTION TO THE AFFAIRS OF THE PARTNERSHIP:

That the following General Partners shall devote full time to the affairs of the Partnership, providing day to day management to the operation and direction of Pacific Tuna Ventures: Gunther W. Mothes. This management role will continue through the 5 year life span of the Limited Partnership. Future management will be decided by the General Partners when the Partnership transforms to a Corporation, etc.

INDEMNITY, LIMITED PARTNERSHIP:

The General Partners shall be indemnified by the Partnership from all liability related to their actions taken on behalf of the Limited Partnership, provided that the actions to be indemnified were taken in good faith, and do not constitute any criminal acts or any act of intentional misconduct. In the event that a dispute occurs between the Limited Partnership and a Partner, as to whether or not an action is properly subject to this indemnity, the dispute shall be submitted to arbitration, before a single arbitrator, under the rules of the American Arbitration Association. Any decision rendered by the arbitrator shall be final, and may be entered as a judgment in any court having jurisdiction.

LIMITED OPPORTUNITY:

That the General Partners of this Partnership shall not be required to refer all business opportunities similar to that of the Limited Partnership to the Limited Partnership.

LIMITED PARTNERSHIP TERM:

That the Partnership term begins on the date that the Limited Partnership is actually formed in the Republic of the Marshall Islands, and shall continue for five years from that date when it shall dissolve under the terms of this agreement.

Under this agreement, the original 40 Premium Share Limited Partners of Pacific Tuna Ventures Limited Partnership, will retain status as charter members after dissolution of the Limited Partnership and will continue to share free fishing time on the Pacific Tuna Ventures vessel(s) for the remainder of their lifetime. These fishing rights are transferable, along with each share, after dissolution of the Limited Partnership, only after the General Partners have exercised their "First Rights of Refusal" to purchase shares being sold, or otherwise transferred.

However, any Limited Partner may exercise his right to sell, give, or otherwise transfer his membership/partnership share(s) at any time during the start-up period and/or anytime during the five year life term of the Limited Partnership.

Upon becoming a duly registered and paid in Premium Share Limited Partner, and upon the inauguration of actual fishing operations, the Premium Partner will receive and hold free fishing rights for the rest of his/her lifetime, and will share in all profits from the sale of fish as a holder of a part of, or all of, the 40 shares within the 38% of the "vessel share" allocated to the Premium Share Limited Partner(s).

Upon dissolution of the Limited Partnership at the end of 5 years continuous operation, the shareholders of each Premium Limited Partner Share will continue to receive income dividends from a 27% allocation provided from the 100% of the newly formed Pacific Tuna Ventures, LLC, Corp, etc. Dividend income will continue throughout the life span of the shareholder. However, dividend income privileges are not transferable after the dissolution of the Limited Partnership, unless or until the General Partners have exercised their "First Rights of Refusal" to purchase the share(s).

The Premium Share Limited Partner(s), having taken certain risks, will enjoy the reimbursement of their contribution. Reimbursement will be accomplished in two increments. First increment of $5,000 per Class 1 Premium Share, or $10,000 per Class 2 Premium Share, will be reimbursed at the end of two years from initial date of formation of the Limited Partnership. Second increment of $5,000 per Class 1 Premium Share, or $10,000 per Class 2 Premium Share, will be reimbursed at the end of the third year from date of formation.

Limited Partners have no restrictions regarding the amount of fishing trips they wish to make. Availability is only limited to fair scheduling of all the Limited Partners in a rotation method that will allow each partner to pick the time of year, area of fishing, and duration of fishing trip(s).

This instrument contains the entire agreement and any modifications shall be in writing and signed by the parties affected by the modification, or who have the right to cause the change.