International Seaways finalizes consulting agreement with former Chairman Douglas Wheat: $500K fee, equity vesting

International Seaways, Inc.

Consulting fee of $500,000 paid in two equal installments of $250,000 each.
Wheat serves as Chairman Emeritus and independent contractor, up to 4 hours per week.
Equity awards accelerate and vest in full as of resignation date (Nov 22, 2024).
Non-compete: cannot provide services to oil tanker competitors during term.
Agreement terminable by Wheat after Nov 23, 2025 (4 weeks notice).

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