Mercenary Company: Sea Reavers
The Sea Reavers are not an organized mercenary company, per se, but a collection of sailors--some say pirates, others say privateers, still others say "armed naval guards for hire"--that alternately prey and protect merchant traffic at sea.
Originally formed of a minotatur tribe that chose to take to the seas during the early days of the Hordes, the Sea Reavers, it is said, were the first inspiration for the Mercenary Companies on land. The Reavers are mostly based in Yithi and Zhi, but frequently Reaver Captains will look for a good port to call home during the winter months in other nations as well, and within the last few centuries have found a welcome home in cities and coves all over Travesimia and as far west as Whaveminsia. Liria has also begun to see advantages to offering Reaver Captains a safe port, largely because Dradehalia, Zabalasa, Alalihat, and the Ulmhorde consider the Reavers anathema and attack them on sight, leading many Reaver Captains to declare those ships outside the Code and therefore preferential targets.
Sea Reaver Code
Like the companies they inspired, the Sea Reavers have a Code that they follow closely (and enforce among their ranks):
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Death before dishonor. The sea shows little mercy, but respect her rules, and she will provide. The Code, also.
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Sails mean wails. The sea, she is a harsh mistress, and the Sea Reavers believe they are born of the sea. Storms do not care what ships lay within their path, and neither do the Reavers. Any ship on the sea is fair game to the Reavers, unless the Respect has been paid prior.
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Respect must be paid. If a merchant ship upon sight of a Reaver ship, lowers its flag and heaves to, the Reavers must give the merchant opportunity to pay Respect. Merchants may either give a percentage of their cargo or, at times, render a service or aid to Reaver crews (often in the form of healing of sick crewmates, if a cleric is present on the merchant). Merchants frequently also purchase protection from the Reavers, and when doing so will be given a Seal of Respect, which Reavers must honor when shown. (Should a Seal be found to be counterfeit, the ship is forfeit to the Reavers. Should any Reaver not respect a legitimate Seal, the punishment is extreme.)
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All are equal on the sea. Reavers are obligated to make the best effort they can to rescue ships foundering or shipwrecked, and expect that any vessel will do the same for Reaver crews. A non-Reaver ship that takes in Reaver crew in distress will often be given Respect in thanks.
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Surrender is always an option. Reavers will always honor surrender, and give captured crew members a chance to Serve. Reavers expect to be able to surrender as well, and crews that do not honor a surrender are marked for death.
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Every sailor has a vote in affairs of moment. Every sailor has equal title to the fresh provisions, or strong liquors, at any time seized, and may use them at pleasure, unless a scarcity makes it necessary, for the good of all, to vote a retrenchment.
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To desert the ship is to desert the Code. Service fairly entered is service fairly served, and desertion merits death. Those that are taken capture are given the choice to serve, and if accepted, they serve until the period of their service ends. (Those taken aboard after shipwreck are offered a five-year term of service, but not required to take it. Some Reavers will offer service until the next port of call instead.) Those captured who refuse service are, by definition, the last to receive care, consideration, or supplies, and are frequently kept in the brig or cargo hold.
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The ship is all. Any actions taken must be to preserve the ship and advance her cause; anything detrimental to the ship is cause for punishment; any decision that has no effect on the ship's welfare is purely the captain's, and if time permits, he/she may put it to the crew.