January 31, 2005 Mr. Robert N. Cowen 17 Kolbert Drive Scarsdale, New York 10583 Dear Bob:Severance Protection Agreement • February 3rd, 2005 • Overseas Shipholding Group Inc • Deep sea foreign transportation of freight
This letter agreement shall serve as a modification of the Severance Protection Agreement (the "SPA") made as of December 12, 2003, by and between you and Overseas Shipholding Group, Inc., a corporation incorporated under the laws of Delaware with its principal office at 511 Fifth Avenue, New York, New York 10017(the "Company"), pursuant to Section 10 of the SPA.
January 31, 2005 Mr. Robert N. Cowen 17 Kolbert Drive Scarsdale, New York 10583 Dear Bob:Consulting Agreement • February 3rd, 2005 • Overseas Shipholding Group Inc • Deep sea foreign transportation of freight • New York
The purpose of this letter agreement (this "Letter Agreement") is to acknowledge and set forth the terms and conditions of your retention as a consultant to Overseas Shipholding Group, Inc., a corporation incorporated under the laws of Delaware with its principal office at 511 Fifth Avenue, New York, New York 10017 ("OSG").
