Settlement, Release, and Indemnity AgreementSettlement, Release, and Indemnity Agreement • March 16th, 2015 • Overseas Shipholding Group Inc • Deep sea foreign transportation of freight • New York
This settlement, release, and indemnity agreement (this “Agreement”) is entered into as of February 3, 2015 (the “Execution Date”), by and between Overseas Shipholding Group, Inc. (“OSG”), OSG Ship Management, Inc. (“OSM”), OSG Bulk Ships, Inc. (“OBS”), and OSG International, Inc. (“OIN” and together with OSG, OSM, and OBS, the “OSG Parties”) and James I. Edelson (“Edelson” and together with the OSG Parties, the “Parties”) and shall become effective without further action of the Parties on the date that the order of the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) approving this Agreement and authorizing the OSG Parties’ performance hereunder (the “Approval Order”) becomes a Final Order (such date, the “Effective Date”).1
