Consulting Agreement between International Shipholding Corporation and Erik F. Johnsen (2010)

Summary

International Shipholding Corporation has hired Erik F. Johnsen as a consultant from January 1, 2010, to December 31, 2010, with an annual fee of $250,000 paid in monthly installments, plus reasonable expenses. After the initial term, the agreement continues month-to-month unless either party gives 90 days' notice to cancel. Both parties have signed to confirm their acceptance of these terms.

EX-10.6 3 exhibit106consagree.htm EXHIBIT 10.6 - CONSULTING AGREEMENT exhibit106consagree.htm

Exhibit 10.6

December 23, 2009

Mr. Erik F. Johnsen

P.O. Box 160

Covington, LA 70434

Reference: Erik F. Johnsen Consulting Agreement

This letter will confirm that International Shipholding Corporation has agreed to retain you as a consultant for a period of time commencing January 1, 2010, and ending December 31, 2010. Your consulting compensation will be annual fee of $250,000, payable pro-rata in monthly installments of $20,833.34, plus reasonable out-of-pocket expenses. At the end of the agreed period of time, this Agreement is automatically extended month-by-month with a continuation of said pro-rata monthly installments of $20,833.34.

This Agreement may be cancelled by either party on giving a 90-day notice of cancellation.

Please sign below to acknowledge your agreement and acceptance of this Consulting Agreement.

Sincerely,

/s/ Niels M. Johnsen

N. M. Johnsen

Chairman of the Board

AGREED AND ACCEPTED:

/s/ Erik F. Johnsen

___________________________________

Erik. F. Johnsen

___1/11/10_______________________________

Date