Exhibit 10.1

FORM OF NON-EMPLOYEE DIRECTOR
RESTRICTED STOCK AWARD AGREEMENT

THIS AWARD AGREEMENT (the “Agreement”), made as of this [____] day of [_____],
20[___], between International Seaways, Inc. (the “Company”), a Marshall Islands
corporation, and [_____________] (the “Participant”).

WHEREAS, the Company has adopted the International Seaways, Inc. 2020
Non-Employee Director Incentive Compensation Plan (the “Plan”) to promote the
interests of the Company and its shareholders by providing certain non-employee
directors of the Company, who are largely responsible for the management, growth
and protection of the business of the Company, with incentives and rewards to
encourage them to continue in the service of the Company; and

WHEREAS, Section 7 of the Plan provides for the grant of Other Stock-Based
Awards, including restricted stock, to Participants in the Plan.

NOW THEREFORE, in consideration of the promises and the mutual covenants
hereinafter set forth, the parties hereto hereby agree as follows:

1.Award of Restricted Stock. Pursuant to, and subject to, the terms and
conditions set forth herein and in the Plan, the Company hereby awards to the
Participant [_____] shares of Common Stock of the Company (the “Restricted
Stock”), which may not be transferred, pledged, assigned or otherwise encumbered
until vested (the “Transfer Restrictions”).
2.Grant Date. The Grant Date of the Restricted Stock hereby awarded is [______],
20[___].
3.Incorporation of the Plan. All terms, conditions and restrictions of the Plan
are incorporated herein and made part hereof as if stated herein. If there is
any conflict between the terms and conditions of the Plan and this Agreement,
the terms and conditions of the Plan shall govern. Unless otherwise indicated
herein, all capitalized terms used herein shall have the meanings given to such
terms in the Plan.
4.Vesting Date. The Restricted Stock shall vest only in accordance with the
provisions of this Agreement. Subject to Participant having continuously served
on the Board of Directors through such date, all of the shares of Restricted
Stock shall become vested on [_____________] (the “Vesting Date”).
5.Forfeiture.
(a) In the event that the Participant’s service on the Board of Directors of the
Company terminates prior to the Vesting Date, all of the shares of Restricted
Stock shall be forfeited on the date of such termination without payment of any
consideration therefore.
(b) Additionally, in the event that the Participant attempts to transfer,
pledge, assign or otherwise encumber shares of Restricted Stock prior to the
Vesting Date in violation of the Transfer Restrictions, such transfer, pledge,
assignment or encumbrance shall be null and void and the Participant’s shares of
Restricted Stock shall be forfeited without payment of any consideration
therefor.
6.Share Certificates. The shares representing the Restricted Stock will be held
in the Participant’s name in book-entry format by the Company’s transfer agent,
Computershare Trust Company, N.A. Upon vesting of the shares of Restricted Stock
on the Vesting Date, the Participant shall have the right to choose to have a
certificate issued in the Participant’s name, to have the shares transferred to
a brokerage account of the Participant’s choice or to continue to hold the
shares in book-entry format with the transfer agent.

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7.Shareholder’s Rights. Subject to the terms of this Agreement, prior to the
Vesting Date the Participant shall have, with respect to any of the shares of
Restricted Stock, all rights of a shareholder of the Company, including the
right to vote such shares and the right to receive all dividends paid with
respect to such shares of Restricted Stock at the same time as Shareholders
generally; provided, that the right to vote and receive dividends shall
terminate immediately with respect to any shares of Restricted Stock upon
forfeiture of those shares pursuant to Section 5 hereof.
8.Non-Assignability. Except as expressly provided herein, the shares of
Restricted Stock and any rights with respect thereto shall not be assigned,
transferred, pledged or encumbered, and any purported assignment, transfer,
pledge or encumbrance shall be null and void; provided, that the shares of
Restricted Stock may be transferred by will or by the laws of descent and
distribution subject to the Committee’s receipt of such documents as may be
requested by the Committee from time.
9.Modification and Waiver. Neither this Agreement nor any provision hereof can
be changed, modified, amended, discharged, terminated or waived orally or by any
course of dealing or purported course of dealing, but only by an agreement in
writing signed by the Participant and the Company. No such agreement shall
extend to or affect any provision of this Agreement not expressly changed,
modified, amended, discharged, terminated or waived or impair any right
consequent on such a provision. The waiver of or failure to enforce any breach
of this Agreement shall not be deemed to be a waiver or acquiescence in any
other breach thereof.
10.83 (b) Election. If the Participant intends to make an election under Section
83 of the Internal Revenue Code of 1986, as amended (the “Code”), the
Participant must contact the Chief Financial Officer of the Company (who is
Jeffrey D. Pribor as of the date of this Agreement) within 30 calendar days of
the date of this Agreement and must timely provide to the Company a copy of any
such election. A form of such election is attached hereto as Exhibit A. The
Participant acknowledges that such notification and provision of a copy to the
Company does not constitute a valid Section 83(b) election, and that it is the
Participant’s sole responsibility, and not that of the Company, to file timely
the election in accordance with the requirements of Section 83 of the Code, even
if the Participant requests that the Company or its representatives make the
filing on the Participant’s behalf. The Participant acknowledges and agrees that
the Company shall have no liability to the Participant or otherwise as a result
of the Participant making, or failing to make, a proper Section 83(b) election.
11.Governing Law. This Agreement and all rights under this Agreement shall be
construed and enforced in accordance with the laws of the State of Delaware
without regard to the provisions governing conflict of laws.
12.Participant Acknowledgment. The Participant hereby acknowledges that all
decisions, determinations and interpretations of the Committee or the Company in
respect of this Agreement shall be final, conclusive and binding.
13.Entire Agreement. This Agreement, together with the Plan, represents the
final, complete and total agreement of the parties hereto respecting the shares
of Restricted Stock and the matters discussed herein and this Agreement
supersedes any and all previous agreements and understandings, whether written,
oral or otherwise, relating to the shares of Restricted Stock and such matters.

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IN WITNESS WHEREOF, International Seaways, Inc. has caused this Agreement to be
duly executed by its duly authorized officer and said Participant has hereunto
signed this Agreement on his own behalf, THEREBY REPRESENTING THAT HE OR SHE HAS
CAREFULLY READ AND UNDERSTANDS THIS AGREEMENT AND THE PLAN, as of the day and
year first above written.

INTERNATIONAL SEAWAYS, INC.

By:

By:

Name:

Name:

Title:

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Exhibit A

Internal Revenue Service Center at
___________________________

___________________________

___________________________

Election to Include the Value of Restricted Property in Income in the Year of
Transfer Pursuant to Code Sec. 83(b)

Name: _________________________
Address: _______________________
_______________________

Social Security Number: ____________________

Tax Year End: [___]

Pursuant to Code Sec. 83(b), I hereby elect to include the value of the
restricted property identified below in my taxable income for the tax year
ending 2020, the year of the transfer.

In accordance with Treasury Regulation §1.83-2(e), the following information is
provided for the property that is subject to this election:

1.Property Transferred:  _________ shares of Common Stock of International
Seaways, Inc. (the “Company”).

2.Date on which property was transferred:  [______], 20[__].

3.Fair market value of property at time of transfer (determined without regard
to any restrictions other than nonlapse restrictions):  $______ per share of
Common Stock.

4.Total amount paid for the property:  $0 per share of Common Stock.

5.Nature of Restriction:  Unvested shares may not be transferred, pledged,
assigned or otherwise encumbered and are subject to forfeiture in the event of
termination of services for any reason.  All shares vest fully on
[____________________] (the “Vesting Date”).

A copy of this election statement has been furnished to International Seaways,
Inc., the entity for which I perform services.

________________________________________         Date: ____________________

Name:

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