Consulting Agreement between International Shipholding Corporation and Erik F. Johnsen

Summary

International Shipholding Corporation has hired Erik F. Johnsen as a consultant from May 1, 2007, to December 31, 2008, with an annual fee of $250,000 paid in monthly installments, plus reasonable expenses. After this period, the agreement continues on a month-to-month basis with the same monthly payment. Either party can end the agreement with 90 days' notice.

EX-10.6 2 exhibit106.htm EXHIBIT 10.6 - CONSULTING AGREEMENT exhibit106.htm

February 18, 2007

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 May 1, 2007, and ending December 31, 2008. 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,

N. M. Johnsen

Chairman of the Board

AGREED AND ACCEPTED:

/s/ Erik F. Johnsen

___________________________________

Erik. F. Johnsen

April 30, 2007

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Date