FORM OF STOCK OPTION AGREEMENT FOR THE GRANT OF NON-QUALIFIED STOCK OPTIONS UNDER THE INTERNATIONAL SHIPHOLDING CORPORATION STOCK INCENTIVE PLANStock Option Agreement • March 9th, 2005 • International Shipholding Corp • Deep sea foreign transportation of freight
NIELS W. JOHNSEN CONSULTING AGREEMENT This will confirm that International Shipholding Corporation has agreed to retain you as a consultant commencing January 1, 2005 through December 31, 2005, for a fee of $125,000, payable in 12 monthly installments...Johnsen Consulting Agreement • March 9th, 2005 • International Shipholding Corp • Deep sea foreign transportation of freight
This will confirm that International Shipholding Corporation has agreed to retain you as a consultant commencing January 1, 2005 through December 31, 2005, for a fee of $125,000, payable in 12 monthly installments of $10,416.67, plus reasonable out-of-pocket expenses. At the end of the period, this Agreement is automatically extended on a month-by-month basis. Either party on a 90-day notice may cancel this Agreement. Please sign below to acknowledge your agreement to this consulting arrangement.
LIFE INSURANCE BENEFITS PROVIDED BY THE COMPANY TO NIELS W. JOHNSEN AND ERIK F. JOHNSEN International Shipholding Corporation (the "Company") has agreements with Erik F. Johnsen, Chairman of the Board of Directors and Chief Executive Officer, and...International Shipholding Corp • March 9th, 2005 • Deep sea foreign transportation of freight
International Shipholding Corporation (the "Company") has agreements with Erik F. Johnsen, Chairman of the Board of Directors and Chief Executive Officer, and Niels W. Johnsen, a Director and former Chairman, whereby their estates will be paid approximately $822,000 and $626,000, respectively upon death. The Company maintains an insurance policy and has established reserves sufficient to cover these benefits.
