Common use of Form of Notice of Exercise Clause in Contracts

Form of Notice of Exercise. To: Danaos Corporation The undersigned hereby irrevocably elects to exercise Warrants to acquire shares of Common Stock, par value $0.01 per share, of DANAOS CORPORATION (the “ Warrant Shares”), on the terms and conditions specified in the Warrant Certificate and the Warrant Agreement therein referred to, surrenders this Warrant Certificate and all right, title and interest therein to DANAOS CORPORATION and directs that the shares of Common Stock deliverable upon the exercise of such Warrants be registered or placed in the name and at the address specified below and delivered thereto. The undersigned elects to hold Warrant Shares through: Address: Telephone: Fax: Social Security or Other Identification Number: Account from which Warrant Share are Being Delivered: Depositary Account No.: Contact Name, Address and Telephone: Address: Telephone: Fax: Social Security or Other Identification Number: Contact Name, Address and Telephone: Address: Telephone: Fax: Social Security or Other Identification Number: Contact Name, Address and Telephone: The Royal Bank of Scotland plc 4,039,395 HSH Nordbank AG 3,711,417 Credit Suisse International 1,946,851 Emporiki Bank of Greece S.A. 1,157,876 Deutsche Bank Aktiengesellschaft 1,013,134 ABN AMRO Bank N.V. 745,193 Deutsche Schiffsbank Aktiengesellschaft 709,595 Uberior Trading Limited 513,091 Citibank N.A. London Branch 333,707 Piraeus Bank S.A. 405,236 National Bank of Greece S.A. 232,102 EFG Eurobank Ergasias S.A. 77,009 Commerzbank AG, Filiale Luxembourg 74,870 Aegean Baltic Bank S.A. 40,524

Form of Notice of Exercise. To: Danaos Corporation The undersigned hereby irrevocably elects to exercise Warrants to acquire shares of Common Stock, par value $0.01 per share, of DANAOS CORPORATION (the “ Warrant Shares”), on the terms and conditions specified in the Warrant Certificate and the Warrant Agreement therein referred to, surrenders this Warrant Certificate and all right, title and interest therein to DANAOS CORPORATION and directs that the shares of Common Stock deliverable upon the exercise of such Warrants be registered or placed in the name and at the address specified below and delivered thereto. The undersigned elects to hold Warrant Shares through: Name of Direct Participant in the Depositary: Address: Telephone: Fax: Social Security or Other Identification Number: Account from which Warrant Share are Being Delivered: Depositary Account No.: Contact Name, Address and Telephone: Name of Registered Holder: Address: Telephone: Fax: Social Security or Other Identification Number: Contact Name, Address and Telephone: Name of Registered Holder: Address: Telephone: Fax: Social Security or Other Identification Number: Contact Name, Address and Telephone: Signature: The Royal Bank of Scotland plc 4,039,395 HSH Nordbank AG 3,711,417 Credit Suisse International 1,946,851 Emporiki Bank of Greece S.A. 1,157,876 Deutsche Bank Aktiengesellschaft 1,013,134 ABN AMRO Bank N.V. 745,193 Deutsche Schiffsbank Aktiengesellschaft 709,595 Uberior Trading Limited 513,091 Citibank N.A. London Branch 333,707 Piraeus Bank S.A. 405,236 National Bank of Greece S.A. 232,102 EFG Eurobank Ergasias S.A. 77,009 Commerzbank AG, Filiale Luxembourg 74,870 Aegean Baltic Bank S.A. 40,524