Mr. Craig H. Stevenson, Jr. At the address on file with the Company Dear Craig:Merger Agreement • July 16th, 2021 • International Seaways, Inc. • Water transportation
This letter (this “Letter Agreement”) memorializes our recent discussions regarding the terms of the termination of your employment by Diamond S Management LLC (“DSM”) and your engagement with, and service to, International Seaways, Inc. (together with its affiliates, the “Company”) following the completion of the merger (the “Merger”) contemplated by the Agreement and Plan of Merger by and among Diamond S Shipping Inc., Dispatch Transaction Sub, Inc. and the Company, dated as of March 30, 2021 (the “Merger Agreement”). The terms “Closing” and “Closing Date” when used herein have the meaning ascribed to such terms in the Merger Agreement; the Closing Date will also be the “Date of Termination” for purposes of the Employment Agreement. We look forward to your leadership.
