EXHIBIT 10.3
International Seaways, Inc.
FORM OF Amendment No. 9 to James D. Small’s Employment Agreement
This Amendment No. 9 (the “Amendment”), dated as of June 8, 2026 (the “Effective Date”), is between International Seaways, Inc. (the “Company”) and James D. Small (the “Executive”).
WHEREAS, Overseas Shipholding Group, Inc. (“OSG”) and the Executive previously entered into an employment agreement, dated February 13, 2015, and as amended as of March 30, 2016; August 3, 2016; November 7, 2016; April 2, 2020; April 7, 2022; March 8, 2023; March 14, 2024; and March 12, 2025 which was assumed by the Company (the “Employment Agreement”).
WHEREAS, the Employment Agreement was assigned to the Company on November 30, 2016 in connection with the spin-off of the Company from OSG (the “Assignment”).
WHEREAS, pursuant to Section 13(g) of the Employment Agreement, following the Assignment, references to “the Company” in the Employment Agreement constitute a reference to the Company (rather than to OSG).
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