0001144204-16-134322 Sample Contracts

November 7, 2016 Ian Blackley c/o Overseas Shipholding Group, Inc. 302 Knights Run Avenue #1200 Tampa, Florida 33602 Dear Ian:
Overseas Shipholding Group Inc • November 14th, 2016 • Deep sea foreign transportation of freight

This letter agreement (the “Letter Agreement”) memorializes our conversations regarding your continued employment with Overseas Shipholding Group, Inc. (the “Company”) following the closing (the “Closing”) of the transactions contemplated by the Separation and Distribution Agreement between the Company and International Seaways, Inc. (“INSW”), expected to be entered into in connection with the separation of INSW from OSG on terms and conditions agreed to by INSW and OSG (such agreement, the “Separation and Distribution Agreement”).

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Amendment No. 3 to James D. Small’s Employment Agreement
S Employment Agreement • November 14th, 2016 • Overseas Shipholding Group Inc • Deep sea foreign transportation of freight

This Amendment No. 3 (the “Amendment”), dated as of November 7, 2016 (the “Effective Date”), is between Overseas Shipholding Group, Inc. (the “Company”) and James D. Small (the “Executive”) and approved by International Seaways, Inc. (“INSW”).

Amendment No. 3 to Lois K. Zabrocky’s Employment Agreement
S Employment Agreement • November 14th, 2016 • Overseas Shipholding Group Inc • Deep sea foreign transportation of freight

This Amendment No. 3 (the “Amendment”), dated as of November 7, 2016 (the “Effective Date”), is between Overseas Shipholding Group, Inc. (the “Company”) and Lois K. Zabrocky (the “Executive”) and approved by International Seaways, Inc. (“INSW”).

November 7, 2016 Rick Oricchio c/o Overseas Shipholding Group, Inc. 302 Knights Run Avenue #1200 Tampa, Florida 33602 Dear Rick:
Overseas Shipholding Group Inc • November 14th, 2016 • Deep sea foreign transportation of freight

This letter agreement (the “Letter Agreement”) memorializes our conversations regarding your continued employment with Overseas Shipholding Group, Inc. (the “Company”) following the closing (the “Closing”) of the transactions contemplated by the Separation and Distribution Agreement between the Company and International Seaways, Inc. (“INSW”), expected to be entered into in connection with the separation of INSW from OSG on terms and conditions agreed to by INSW and OSG (such agreement, the “Separation and Distribution Agreement”).

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