Document:

ex4-20.htm

    
      Exhibit
4.20

      

      EXECUTION
COPY

      

      EMPLOYMENT
AGREEMENT (this “Agreement”) dated as of 1 April 2010, between DHT HOLDINGS,
INC., a corporation incorporated under the laws of the Republic of the Marshall
Islands (“Employer”), and RANDEE DAY, an individual (“Executive”).

       

      WHEREAS
Employer desires to employ Executive as its acting Chief Executive Officer;
and

       

      WHEREAS
Executive is willing to serve in the employ of Employer for the period and upon
the other terms and conditions of this Agreement.

       

      NOW,
THEREFORE, in consideration of the foregoing and the respective representations,
warranties, covenants and agreements set forth herein, the parties hereto agree
as follows:

       

      

      ARTICLE
I

       

      Employment

       

      SECTION
1.01.  Effectiveness.  This Agreement shall become
effective on and from 1 April 2010.

       

      SECTION
1.02.  Term.  The term of Executive’s employment
under this Agreement (the “Term”) shall commence
on 1 April 2010 (the “Commencement Date”),
and, unless earlier terminated pursuant to the provisions of Article III, shall
continue for a fixed term of nine months, upon expiry of which it shall
terminate.

       

      SECTION
1.03.  Position.  During the Term, Employer shall
employ Executive, and Executive shall serve, as acting Chief Executive Officer,
reporting to the Board of Directors of Employer (the “Board”).  Executive
shall have the duties, responsibilities and authority as are typical for such
position at companies of comparable size to Employer and within Employer’s
industry, including general executive authority over Employer’s affairs arising
in the ordinary course of business, and shall perform the other services and
duties commensurate with her position as determined from time to time by the
Board.

       

      SECTION
1.04.  Time and Effort.  During the Term, Executive
shall serve Employer faithfully and use her full business
efforts.  Executive shall perform all duties required of her as acting
Chief Executive Officer.  During the Term, Executive shall not,
directly or indirectly, engage in any employment or other activity that, in the
sole discretion of the Board, is competitive with or adverse to the business,
practice or affairs of Employer or any of its affiliates, whether or not such
activity is pursued for profit or other advantage, or that would conflict or
interfere with the rendition of Executive’s services or duties, provided that
Executive may serve on civic or charitable boards or committees and serve as a
non-employee member of a board of directors of a corporation as to which the
Board has given its consent.  Executive shall resign from or terminate
all positions, relationships and activities that would be inconsistent with the
foregoing.  The Board hereby consents to Executive serving on the
board of directors of TBS International Ltd.

       

       

       

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

       

       

       

      SECTION
1.05.  Location and Travel.  Notwithstanding the
foregoing, Executive is expected to be physically present at Employer’s offices
in St. Helier, Jersey, Channel Islands when making any material decision
regarding or affecting Employer or its business or affairs.  Executive
acknowledges and agrees that her duties and responsibilities to Employer will
require her to travel worldwide from time to time, including to Employer’s
offices in the Channel Islands.  Furthermore, any material activity on
the part of the Executive associated with any ship sale, whether by way of
meeting, phone call, e-mail or otherwise shall be undertaken from the Employer’s
offices in St. Helier, Jersey, Channel Islands.

       

      ARTICLE
II

       

      Compensation

       

      SECTION
2.01.  Salary.  As compensation for
all services rendered by Executive to Employer and all its affiliates in any
capacity and for all other obligations of Executive hereunder, Employer shall
pay Executive a salary (“Salary”) during the Term at the monthly rate of
$45,000, payable monthly to a bank account specified by Executive.

       

      SECTION
2.02.  Board and
Meeting Fees.  In addition to Salary under Section 2.01 above,
Executive shall remain entitled to receive a Board fee of $47,500 per annum, and
a meeting fee of $1,250 in respect of each Board meeting at which she attends,
each for so long as she remains on the Board during the Term.

       

      SECTION
2.03.  Annual Bonus, Equity Awards and
Benefits.  During the Term, Executive shall not be eligible to
receive any annual cash bonus, any awards of equity interests in Employer and
shall not be entitled to receive, and Employer shall have no obligation to
provide, any employee benefits (including health, welfare, disability, pension,
retirement and death benefits), fringe benefits or perquisites, except as
otherwise set forth herein.

       

      SECTION
2.04.  Vacation.  During the Term, Executive shall be
entitled to 19 days of paid vacation from Employer (in addition to normal public
holidays in her normal place of residence).

       

      SECTION
2.05.  Business Expenses.  Employer shall reimburse
Executive for all necessary and reasonable “out-of-pocket” business expenses
incurred by Executive in the performance of Executive’s duties hereunder, provided that
Executive furnishes to Employer adequate records and other documentary evidence
required to substantiate such expenditures and otherwise complies with any
travel and expense reimbursement policy established by the Board from time to
time, but air travel shall be business class when available.  To the
extent the expenses in this Section 2.05 are taxable to Executive, the Company
shall provide a gross-up to Executive such that Executive has no after-tax
cost.

       

       

       

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

       

      SECTION
2.06.  Establishment Costs.  During the Term, the
Company shall reimburse Executive for all pre-approved costs of an office
established by her in Fairfield County, Connecticut, including, but not limited
to, purchase or lease of office equipment, and to the extent any such amounts
are taxable to the Executive, the Company shall provide a gross-up to Executive
such that Executive has no after-tax costs.

       

      SECTION
2.07.  Withholdings.  Employer and its affiliates may
withhold or deduct from any amounts payable under this Agreement such taxes,
fees, contributions and other amounts as may be required to be withheld or
deducted pursuant to any applicable law or regulation.

       

      ARTICLE
III

       

      Termination

       

      SECTION
3.01.  General; Exclusive Rights.  Executive’s
employment with Employer may be terminated by Employer without Cause upon
written notice and payment in a lump sum with such notice in the amount of
Executive’s basic salary (in accordance with Section 2.01 only) for the balance
of any unexpired period of the Term, or summarily for
Cause.  Following termination of Executive’s employment, at any time
and for any reason, Executive shall have no further rights to any compensation,
payments or any other benefits under this Agreement or any other contract, plan,
policy or arrangement with Employer or its affiliates, except as set forth in
this Article III, and save for the right, if she remains on the Board, to
receive a Board fee of $47,500 per annum, and a meeting fee of $1,250 in respect
of each Board meeting at which she attends, each for so long as she remains on
the Board and in accordance with the provisions of the agreement(s) or
resolution(s) by which she is entitled to such benefits.  Executive
shall also retain all rights to indemnification and directors and officers
insurance coverage and her rights as to any equity.

       

      SECTION
3.02.  Accrued Rights.

       

      (a)  Upon
the termination of Executive’s employment with Employer, at any time and for any
reason, Executive shall be entitled to receive when it otherwise would have been
paid (a) Salary earned through the date of termination that remains unpaid as of
such date and (b) reimbursement of any unreimbursed business expenses
incurred by Executive prior to the date of termination to the extent such
expenses are reimbursable under Section 2.05 and accrued but unused
vacation (all such amounts, the “Accrued
Rights”).

       

       

       

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

       

      (b)  For
purposes of this Agreement, the term “Cause” shall mean
(i) Executive’s continuing failure to attempt in good faith to perform
those duties that Executive is required or expected to perform pursuant to this
Agreement after receipt of written notice of such failure by the Company,
(ii) Executive’s dishonesty or breach of any fiduciary duty to Employer in
the performance of Executive’s duties hereunder, (iii) Executive’s
conviction of, or a plea of guilty or nolo contendere to, a misdemeanor
involving moral turpitude, fraud, dishonesty, theft, unethical business conduct
or conduct that impairs the reputation of Employer or any of its affiliates or
any felony under the laws of the United States of America (“USA”) (or the
equivalent thereof in any jurisdiction), (iv) Executive’s gross negligence
or willful misconduct in connection with Executive’s duties hereunder or any act
or omission (other than good faith business decisions) that is materially
injurious to the financial condition or business reputation of Employer or any
of its affiliates or (v) Executive’s material breach of the provisions of
Article IV of this Agreement.

       

      SECTION
3.03.  Termination upon Death or
Disability.  (a)  Executive’s employment with
Employer shall terminate immediately upon Executive’s death or Disability (as
defined below).  In the event Executive’s employment terminates due to
death or Disability, then Employer shall, within thirty (30) days of such
termination, pay to Executive (or her personal representatives, as the case may
be) a lump sum equivalent to Executive’s basic salary (in accordance with
Section 2.01 only) for any unexpired period of the Term.

       

      (b)  For
purposes of this Agreement, the term “Disability” shall
mean the inability of Executive, due to illness, accident or any other physical
or mental incapacity, to perform Executive’s duties in a normal manner for a
period of 90 days (whether or not consecutive) during the
Term.   The Board shall determine, on the basis of the facts then
available, whether and when the Disability of Executive has
occurred.  Such determination shall take into consideration the expert
medical opinion of a physician mutually agreeable to Employer and Executive
based upon such physician’s examination of Executive.  Executive
agrees to make herself available for such examination upon the reasonable
request of Employer.

       

      SECTION
3.04.  Termination by Executive.  Executive may
terminate her employment hereunder during the Term without Good Reason upon
ninety (90) days prior written notice.  Executive may terminate her
employment hereunder during the Term with Good Reason upon sixty (60) days prior
written notice (which notice shall specify the event with specificity) provided
that if for Good Reason, the Good Reason event (as defined below) is not cured
within such sixty (60) day period.  Any notice for Good Reason shall
be given within ninety (90) days of the occurrence of the event and any
termination shall occur with one hundred eighty (180) days of the occurrence of
such event.  “Good Reason” shall mean the occurrence of any of the
following events or circumstances (without the prior written consent of
Executive):  (A) a material reduction by Employer of Executive’s
authority or a material change in Executive’s functions, duties or
responsibilities, (B) a reduction in Executive’s Salary, (C) a requirement that
Executive report to anyone other than the Board, (D) a requirement that
Executive relocate her residence (it being understood that the requirements set
forth in Section 1.05 do not constitute a requirement to relocate) or (E) a
breach by Employer of any material obligation of Employer under this
Agreement.  A termination for Good Reason shall be treated as if it
was a termination without Cause.

       

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

       

      SECTION
3.05.  Change of Control.  (a)  In the
event that Employer terminates Executive’s employment during the Term (other
than for Cause) or Executive terminates her employment for Good Reason following
a Change of Control (or in contemplation thereof after a written agreement with
regard to such Change of Control has occured), Executive shall be entitled to
receive, on the sixtieth (60th) day following the later of the effective date of
termination of Executive’s employment and the Change of Control, a payment equal
to the value on the date of the Change of Control of 50,000 shares of common
stock in Employer, provided that Executive shall not be entitled to any such
payment unless Executive has provided, within sixty (60) days of such event, an
irrevocable waiver and general release of claims (other than Executive’s rights
under this Article III and any rights to indemnification, directors and officers
insurance, equity and without any ancillary provision not related to release of
claims) in favor of Employer, its affiliates, and their respective directors,
officers, employees, agents and representatives in form and substance reasonably
acceptable to Employer; provided, further, that Executive shall forfeit any
entitlement to receive such shares in the event that Executive breaches any of
her obligations under Article IV.

       

      (b)  For
purposes of this Agreement, the term

       

      (i) “Change of Control”
shall mean the occurrence of any of the following events so long as such event
also satisfies the requirements under U.S. Treasury Regulation
1.409A-3(i)(5):

       

      (A) the
consummation of (1) a merger, consolidation, statutory share exchange or similar
form of corporate transaction involving (x) Employer or (y) any entity in
which Employer, directly or indirectly, possesses 50% or more of the total
combined voting power of all classes of its stock, but in the case of this
clause (y) only if Employer Voting Securities (as defined below) are issued or
issuable in connection with such transaction (each of the transactions referred
to in this clause (1) being hereinafter referred to as a “Reorganization”) or
(2) the sale or other disposition of all or substantially all the assets of
Employer to an entity that is not an affiliate (a “Sale”) if such Reorganization
or Sale requires the approval of Employer’s stockholders under the law of
Employer’s jurisdiction of organization (whether such approval is required for
such Reorganization or Sale or for the issuance of securities of Employer in
such Reorganization or Sale), unless, immediately following such Reorganization
or Sale, (I) all or substantially all the individuals and entities who were
the “beneficial owners” (as such term is defined in Rule 13d-3 under the
Exchange Act of the USA (or a successor rule thereto)) of the Shares or other
securities eligible to vote for the election of the Board (collectively, the
“Employer Voting Securities”) outstanding immediately prior to the consummation
of such Reorganization or Sale beneficially own, directly or indirectly, more
than 50% of the combined voting power of the then outstanding voting securities
of the entity resulting from such Reorganization or Sale (including, without
limitation, an entity that as a result of such transaction owns Employer or all
or substantially all Employer’s assets either directly or through one or more
subsidiaries) (the “Continuing Entity”) in substantially the same proportions as
their ownership, immediately prior to the consummation of such Reorganization or
Sale, of the outstanding Employer Voting Securities (excluding any outstanding
voting securities of the Continuing Entity that such beneficial owners hold
immediately following the consummation of the Reorganization or Sale as a result
of their ownership prior to such consummation of voting securities of any entity
involved in or forming part of such Reorganization or Sale other than Employer
and its affiliates) and (II) no Person beneficially owns, directly or
indirectly, 30% or more of the combined voting power of the then outstanding
voting securities of the Continuing Entity immediately following the
consummation of such Reorganization or Sale;

       

       

       

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

       

       

      (B) the
stockholders of Employer approve a plan of complete liquidation or dissolution
of Employer; or

       

      (C) any “person” or
“group” (as such terms are used in Sections 13(d) and 14(d)(2) of the Exchange
Act of the USA, respectively) (other than Employer or an affiliate) becomes the
beneficial owner, directly or indirectly, of securities of Employer representing
50% or more of the then outstanding Employer Voting Securities; provided that for
purposes of this subparagraph (C), any acquisition directly from Employer shall
not constitute a Change of Control.

       

      ARTICLE
IV

       

      Executive
Covenants

       

      SECTION
4.01.  Employer’s Interests.  Executive acknowledges
that Employer has expended substantial amounts of time, money and effort to
develop business strategies, substantial customer and supplier relationships,
goodwill, business and trade secrets, confidential information and intellectual
property and to build an efficient organization and that Employer has a
legitimate business interest and right in protecting those assets as well as any
similar assets that Employer may develop or obtain following the Commencement
Date.  Executive acknowledges and agrees that the restrictions imposed
upon Executive under this Agreement are reasonable and necessary for the
protection of such assets and that the restrictions set forth in this Agreement
will not prevent Executive from earning an adequate and reasonable livelihood
and supporting her dependants without violating any provision of this
Agreement.  Executive further acknowledges that Employer would not
have agreed to enter into this Agreement without Executive’s agreeing to enter
into, and to honor the provisions and covenants of, this Article
IV.  Therefore, Executive agrees that, in consideration of Employer’s
entering into this Agreement and Employer’s obligations hereunder and other good
and valuable consideration, the receipt of which is hereby acknowledged by
Executive, Executive shall be bound by, and agrees to honor and comply with, the
provisions and covenants contained in this Article IV following the Commencement
Date.

       

       

       

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

       

       

      SECTION
4.02.  Scope of Covenants.  For purposes of this
Article IV, the term “Employer” includes Employer’s affiliates, and its and
their predecessors, successors and assigns.

       

      SECTION
4.03.  Non-Disclosure of Confidential Information.

       

      (a)  Executive
acknowledges that, in the performance of her duties as an employee of Employer,
Executive may be given access to Confidential Information (as defined
below).  Executive agrees that all Confidential Information has been,
is and will be the sole property of Employer and that Executive has no right,
title or interest therein.  Executive shall not, directly or
indirectly, disclose or cause or permit to be disclosed to any person, or
utilize or cause or permit to be utilized, by any person, any Confidential
Information acquired pursuant to Executive’s employment with Employer (whether
acquired prior to or subsequent to the execution of this Agreement or the
Commencement Date) or otherwise, except that Executive may (i) utilize and
disclose Confidential Information as required or desirable in the discharge of
Executive’s duties as an employee of Employer in good faith, subject to any
restriction, limitation or condition placed on such use or disclosure by
Employer, and (ii) disclose Confidential Information to the extent required
by applicable law or as ordered by a court of competent
jurisdiction.

       

      (b)  For
purposes of this Agreement, “Confidential
Information” shall mean trade secrets and confidential or proprietary
information, knowledge or data that is or will be used, developed, obtained or
owned by Employer relating to the business, operations, products or services of
Employer or of any customer, supplier, employee or independent contractor
thereof, including products, services, fees, pricing, designs, marketing plans,
strategies, analyses, forecasts, formulas, drawings, photographs, reports,
records, computer software (whether or not owned by, or designed for, Employer),
operating systems, applications, program listings, flow charts, manuals,
documentation, data, databases, specifications, technology, inventions,
developments, methods, improvements, techniques, devices, products, know-how,
processes, financial data, customer or supplier lists, contact persons, cost
information, regulatory matters, employee information, accounting and business
methods, trade secrets, copyrightable works and information with respect to any
supplier, customer, employee or independent contractor of Employer, in each case
whether patentable or unpatentable, whether or not reduced to writing or other
tangible medium of expression and whether or not reduced to practice, and all
similar and related information in any form; provided, however, that
Confidential Information shall not include information that is generally known
to the public other than as a result of disclosure by Executive in breach of
this Agreement or in breach of any similar covenant made by Executive or any
other duty of confidentiality.

       

       

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

       

       

      SECTION
4.04.  Non-Disparagement.  After the date hereof, Executive shall
not, whether in writing or orally, criticize or disparage Employer, its business
or any of its current or former directors, officers, employees, agents or
representatives or any affiliates, directors, officers, employees or
representatives or any of its affiliates, directors, officers or employees of
any of the foregoing, and the officers and directors of the Company, directly or
indirectly, shall not in writing or orally criticize or disparage
Executive.  The foregoing shall not apply to good faith critical
assessments of employees to Employer during the Term, statements and actions by
Executive in her capacity as a director of the Company, truthful responses to
legal process or governmental inquiry, actions to enforce rights under this
agreement, rebuttal of statements made by the other party or persons protected
under this Section or normal competitive-type statements.  This
provision shall be of no further force or effect two (2) years after the end of
the Term.

       

      SECTION
4.05.  Non-Interference.  For the Restricted Period (as defined
below) Executive shall not (A) directly or indirectly, without the prior written
consent of the Board interfere with or damage (or attempt to interfere with or
damage) any relationship between Employer or any of its affiliates and their
respective employees, customers, clients, vendors or suppliers (or any person
that Employer or any of its affiliates have approached or have made significant
plans to approach as a prospective employee, customer, client, vendor or
supplier) or any governmental authority or any agent or representative thereof
or (B) assist any person in any way to do, or attempt to do, any of the
foregoing.

       

      For
purposes of this Agreement, the term “Restricted Period”
shall mean a period commencing on the date of the Commencement Date and
terminating three months from the date Executive ceases to be an employee of
Employer for any reason.  The Restricted Period shall be deemed
automatically extended by any period in which Executive is in violation of this
Section 4.05.

       

      SECTION
4.06.  Records.  All memoranda, books, records, documents,
papers, plans, information, letters, computer software and hardware, electronic
records and other data relating to Confidential Information, whether prepared by
Executive or otherwise, in Executive’s possession shall be and remain the
exclusive property of Employer, and Executive shall not directly or indirectly
assert any interest or property rights therein.  Upon termination of
employment with Employer for any reason, and upon the request of Employer at any
time, Executive will immediately deliver to Employer all such memoranda, books,
records, documents, papers, plans, information, letters, computer software and
hardware, electronic records and other data, and all copies thereof or
therefrom, and Executive will not retain, or cause or permit to be retained, any
copies or other embodiments of such materials.  The foregoing shall
not apply to Executive’s rolodex or other address books.

       

       

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

       

       

      SECTION
4.07.  Specific Performance.  Executive agrees that any breach by
Executive of any of the provisions of this Article IV shall cause
irreparable harm to Employer that could not be adequately compensated by
monetary damages and that, in the event of such a breach, Executive shall waive
the defense in any action for injunctive relief that a remedy at law would be
adequate, and Employer shall be entitled to enforce the terms and provisions of
this Article IV without the necessity of proving actual damages or posting
any bond or providing prior notice.

       

      SECTION
4.08.  Executive Representations and Warranties.  Executive represents and warrants to
Employer that the execution and delivery of this Agreement by Executive and the
performance by Executive of Executive’s duties hereunder shall not constitute a
breach of, or otherwise contravene, or conflict with the terms of any contract,
agreement, arrangement, policy or understanding to which Executive is a party or
otherwise bound.

       

      SECTION
4.09.  Cooperation.  Following the
termination of Executive’s employment, Executive shall provide reasonable
assistance to and cooperation with Employer in connection with any suit, action
or proceeding (or any appeal therefrom) relating to matters that occurred during
the period of Executive’s employment with Employer.  Employer shall
reimburse Executive for any reasonable expenses incurred by Executive in
connection with the provision of such assistance and
cooperation.

       

      ARTICLE
V

       

      Miscellaneous

       

      SECTION
5.01.  Assignment.  This Agreement is personal to
Executive and shall not be assignable by Executive.  The parties agree
that any attempt by Executive to delegate Executive’s duties hereunder shall be
null and void.  Executive shall have no claim against Employer if this
Agreement is terminated by reason of the liquidation of Employer for the purpose
of reconstruction or amalgamation and Executive is offered employment with any
concern or undertaking resulting from such reconstruction or amalgamation on
terms which are materially the same as the terms of this
Agreement.  For the avoidance of doubt, nothing herein shall prejudice
Executive’s rights pursuant to Section 3.05 or any right to indemnification or
directors or officers liability insurance.

       

      SECTION
5.02.  Successors.  This Agreement shall be binding
upon and shall inure to the benefit of the successors and permitted assigns of
Employer and the personal and legal representatives, executors, administrators,
successors, distributees, devisees and legatees of
Executive.  Executive acknowledges and agrees that all Executive’s
covenants and obligations to Employer, as well as the rights of Employer under
this Agreement, shall run in favor of and will be enforceable by Employer, its
affiliates and their successors and permitted assigns.

       

       

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

       

       

      SECTION
5.03.  Entire Agreement.  This Agreement contains the
entire understanding of Executive, on the one hand, and Employer and its
affiliates, on the other hand, with respect to the subject matter hereof, and
all oral or written agreements or representations, express or implied, with
respect to the subject matter hereof are set forth in this
Agreement.

       

      SECTION
5.04.  Amendment.  This Agreement may not be altered,
modified or amended except by written instrument signed by the parties
hereto.

       

      SECTION
5.05.  Notice.  All notices, requests, demands and
other communications required or permitted to be given under the terms of this
Agreement shall be in writing and shall be deemed to have been duly given when
delivered by hand or overnight courier, return receipt requested, postage
prepaid, addressed to the other party as set forth below:

       

      

      
        	
                If
      to Employer:

              	
                DHT
      Holdings Inc.

                26
      New Street

                St.
      Helier, Jersey JE23RA

                Channel
      Islands

                Attn:
      Board of Directors

                 

              
	
                If
      to Executive:

              	
                Randee
      Day

                At
      the last address on the records of the
Company

              

      

      

      The
parties may change the address to which notices under this Agreement shall be
sent by providing written notice to the other in the manner specified
above.

       

      SECTION
5.06.  Governing Law; Jurisdiction.  This Agreement
shall be governed by and interpreted in accordance with English law, and the
parties hereby submit to the jurisdiction of the courts of England and
Wales.

       

      SECTION
5.07.  Severability.  If any term, provision,
covenant or condition of this Agreement is held by a court of competent
jurisdiction to be invalid, illegal, void or unenforceable in any jurisdiction,
then such provision, covenant or condition shall, as to such jurisdiction, be
modified or restricted to the extent necessary to make such provision valid,
binding and enforceable, or, if such provision cannot be modified or restricted,
then such provision shall, as to such jurisdiction, be deemed to be excised from
this Agreement and any such invalidity, illegality or unenforceability with
respect to such provision shall not invalidate or render unenforceable such
provision in any other jurisdiction, and the remainder of the provisions hereof
shall remain in full force and effect and shall in no way be affected, impaired
or invalidated.

       

       

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

       

      SECTION
5.08.  Survival.  Subject to Section 1.01, the rights
and obligations of Employer and Executive under the provisions of this
Agreement, including Articles IV and V of this Agreement, shall survive and
remain binding and enforceable, notwithstanding any termination of Executive’s
employment with Employer for any reason, to the extent necessary to preserve the
intended benefits of such provisions.

       

      SECTION 5.09.  No
Waiver.  The failure of a party to insist upon strict adherence
to any term of this Agreement on any occasion shall not be considered a waiver
of such party’s rights or deprive such party of the right thereafter to insist
upon strict adherence to that term or any other term of this
Agreement.

       

      SECTION
5.10.  Counterparts.  This Agreement may be signed in
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.

       

      SECTION
5.11.  Construction.  (a)  The headings in
this Agreement are for convenience only, are not a part of this Agreement and
shall not affect the construction of the provisions of this
Agreement.

       

      (b)  For
purposes of this Agreement, the words “include” and “including”, and variations
thereof, shall not be deemed to be terms of limitation but rather will be deemed
to be followed by the words “without limitation”.

       

      (c)  For
purposes of this Agreement, the term “person” means any individual, partnership,
company, corporation or other entity of any kind.

       

      (d)  For
purposes of this Agreement, the term “affiliate”, with respect to any person,
means any other person that controls, is controlled by or is under common
control with such person.

       

      SECTION
5.12.  Code Section 409A Compliance.

       

      (a)  The
intent of the parties is that payments and benefits under this Agreement comply
with, or be exempt from, Section 409A of the United States Internal Revenue Code
of 1986, as amended (the “Code”) and the regulations and guidance promulgated
thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum
extent permitted, this Agreement shall be interpreted to be in compliance
therewith.  If Executive notifies the Company (with specificity as to
the reason therefor) that Executive believes that any provision of this
Agreement (or of any award of compensation, including equity compensation or
benefits) would cause Executive to incur any additional tax or interest under
Code Section 409A and the Company concurs with such belief or the Company
independently makes such determination, the Company shall, after consulting with
Executive, reform such provision to try to comply with Code Section 409A through
good faith modifications to the minimum extent reasonably appropriate to conform
with Code Section 409A.  To the extent that any provision hereof is
modified in order to comply with Code Section 409A, such modification shall be
made in good faith and shall, to the maximum extent reasonably possible,
maintain the original intent and economic benefit to Executive and the Company
of the applicable provision without violating the provisions of Code Section
409A.

       

       

       

       

       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

       

       

       

      (b)  A
termination of employment shall not be deemed to have occurred for purposes of
any provision of this Agreement providing for the payment of any amounts or
benefits upon or following a termination of employment that are considered
“nonqualified deferred compensation” under Code Section 409A unless such
termination is also a “separation from service” within the meaning of Code
Section 409A and, for purposes of any such provision of this Agreement,
references to a “termination,” “termination of employment” or like terms shall
mean “separation from service.”  If Executive is deemed on the date of
termination to be a “specified employee” within the meaning of that term under
Code Section 409A(a)(2)(B), then with regard to any payment that is considered
non-qualified deferred compensation under Code Section 409A payable on account
of a “separation from service,” such payment or benefit shall be made or
provided at the date which is the earlier of (A) the expiration of the six
(6)-month period measured from the date of such “separation from service” of
Executive, and (B) the date of Executive’s death (the “Delay
Period”).  Upon the expiration of the Delay Period, all payments and
benefits delayed pursuant to this Section 5.12 (whether they would have
otherwise been payable in a single sum or in installments in the absence of such
delay) shall be paid or reimbursed to Executive in a lump sum with interest at
the prime rate as published in The Wall Street
Journal on the first business day following the end of the Delay Period,
and any remaining payments and benefits due under this Agreement shall be paid
or provided in accordance with the normal payment dates specified for them
herein.

       

      (c)  With
regard to any provision herein that provides for reimbursement of costs and
expenses or in-kind benefits, except as permitted by Code Section 409A, (i) the
right to reimbursement or in-kind benefits shall not be subject to liquidation
or exchange for another benefit, (ii) the amount of expenses eligible for
reimbursement, or in-kind benefits, provided during any taxable year shall not
affect the expenses eligible for reimbursement, or in-kind benefits to be
provided, in any other taxable year, provided that the foregoing clause (ii)
shall not be violated without regard to expenses reimbursed under any
arrangement covered by Internal Revenue Code Section 105(b) solely because such
expenses are subject to a limit related to the period the arrangement is in
effect and (iii) such payments shall be made on or before the last day of
Executive’s taxable year following the taxable year in which the expense
occurred.  Any tax gross-up payment as provided herein shall be made
in any event no later than the end of the calendar year immediately following
the calendar year in which Executive remits the related taxes, and any
reimbursement of expenses incurred due to a tax audit or litigation shall be
made no later than the end of the calendar year immediately following the
calendar year in which the taxes that are the subject of the audit or litigation
are remitted to the taxing authority, or, if no taxes are to be remitted, the
end of the calendar year following the calendar year in which the audit or
litigation is completed.

       

       

       

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

       

       

       

       

      (d)  For
purposes of Code Section 409A, Executive’s right to receive any installment
payments pursuant to this Agreement shall be treated as a right to receive a
series of separate and distinct payments.  Whenever a payment under
this Agreement specifies a payment period with reference to a number of days
(e.g., “payment
shall be made within thirty (30) days following the date of termination”), the
actual date of payment within the specified period shall be within the sole
discretion of the Company.]

       

      SECTION 5.13.  No
Duty to Mitigate Executive
shall have no duty to mitigate any amounts due hereunder and no amounts earned
from any other employment or providing services to any other person or entity
shall be set off against any amounts due hereunder.

       

      SECTION
5.14.  Legal Fees.  The Company shall promptly pay or
reimburse the reasonable legal fees incurred by Executive in connection with
this Agreement and, to the extent taxable pay an additional amount so Executive
has no after-tax cost.  Such amount shall be paid within thirty (30)
days of submission of documentation of such expenses, which submission shall be
made within ninety (90) days of the execution of this
Agreement.

       

      

      IN
WITNESS WHEREOF, the parties have duly executed this Agreement as of the date
first written above.

       

      

      
        
          	
                  DHT
      HOLDINGS, INC.,

                	 
	 	 
	 	 
	
                  by

                	 
	 
      	 	 
	 
      	
                  Name:           
 

                	 
	 
      	
                  Title:
 

                	 

        

      

       

      
         

        
          

          
            
              	
                      RANDEE
      DAY,

                    	 
	 	 
	 	 
	
                    	 
	 
      	 	 
	 
      	
                                 
 

                    	 
	 
      	
                      
 

                    	 

            

          

           

        

         

         

         

         

        
13ex4-21.htm

    Exhibit
4.21

     

     

    
      

      

      Date [●],
2010

      

      

      

      DHT
MARITIME, INC.

      

      

      DHT
HOLDINGS, INC.

      

      - and
-

      

      

      OLE
JACOB DIESEN

      

      

      _____________________________________________

      

      AGREEMENT
FOR SERVICES

      _____________________________________________

      

      

      

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      
        WATSON,
FARLEY & WILLIAMS

        London

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

       

      INDEX

      

       

      
        
          	
                  Clause

                	
                  Page

                

        

      

      

      
        
          	
                  1

                	
                  DEFINITIONS
      AND INTERPRETATION

                	
                  1

                
	 
      	 
      	 
      
	
                  2

                	
                  APPOINTMENT
      AND TERMINATION OF EMPLOYMENT

                	
                  2

                
	 
      	 
      	 
      
	
                  3

                	
                  PERIOD
      OF APPOINTMENT

                	
                  3

                
	 
      	 
      	 
      
	
                  4

                	
                  DUTIES
      OF THE CONSULTANT

                	
                  3

                
	 
      	 
      	 
      
	
                  5

                	
                  COMPLIANCE

                	
                  3

                
	 
      	 
      	 
      
	
                  6

                	
                  CONFIDENTIALITY

                	
                  3

                
	 
      	 
      	 
      
	
                  7

                	
                  CONFLICTS
      OF INTEREST

                	
                  4

                
	 
      	 
      	 
      
	
                  8

                	
                  NO
      EMPLOYMENT OR PARTNERSHIP

                	
                  4

                
	 
      	 
      	 
      
	
                  9

                	
                  FEE

                	
                  5

                
	 
      	 
      	 
      
	
                  10

                	
                  EXPENSES

                	
                  5

                
	 
      	 
      	 
      
	
                  11

                	
                  COVENANTS

                	
                  5

                
	 
      	 
      	 
      
	
                  12

                	
                  LIABILITY
      AND INDEMNITY

                	
                  7

                
	 
      	 
      	 
      
	
                  13

                	
                  AUTHORITY

                	
                  7

                
	 
      	 
      	 
      
	
                  14

                	
                  TERMINATION

                	
                  7

                
	 
      	 
      	 
      
	
                  15

                	
                  EFFECT
      OF TERMINATION

                	
                  7

                
	 
      	 
      	 
      
	
                  16

                	
                  NOTICES

                	
                  8

                
	 
      	 
      	 
      
	
                  17

                	
                  ANCILLARY
      PROVISIONS

                	
                  8

                
	 
      	 
      	 
      
	
                  18

                	
                  GOVERNING
      LAW AND JURISDICTION

                	
                  9

                

        

        

        
          	
                  SCHEDULE
      A  SERVICES

                	
                  10

                
	 
      	 
      
	
                  SCHEDULE
      B  WAIVER OF CLAIMS

                	
                  11

                

        

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      

      Agreement
for Services

      

      

      THIS AGREEMENT is made
on [●], 2010

      

      BY AND AMONG:

      

      
        	
                (1)

              	
                DHT MARITIME, INC.,
      whose registered office is at 26 New Street, St. Helier, Jersey JE23RA,
      Channel Islands;

              

      

       

      
        	
                (2)

              	
                DHT HOLDINGS, INC.,
      whose registered office is at 26 New Street, St. Helier, Jersey JE23RA,
      Channel Islands; and

              

      

       

      
        	
                (3)

              	
                OLE JACOB DIESEN of
      Krags vei 10, 0783 Oslo, Norway

              

      

       

      IT IS AGREED as
follows:

      

      
        	
                1

              	
                DEFINITIONS
      AND INTERPRETATION

              

      

       

      
        	
                1.1

              	
                In
      this Agreement, unless the context otherwise expressly requires, the
      following expressions shall have the following
  meanings:

              

      

       

      “Agreement” means this
Agreement;

       

      “Appointment” means the
appointment of the Consultant in accordance with this Agreement;

       

      “Board” means the board of
directors of Maritime (as defined below) and Holdings (as defined below) or any
duly authorised committee thereof;

       

      “Cause” means: (i) the
Consultant’s failure to perform the Services; (ii)  the
Consultant’s gross negligence, dishonesty or wilful misconduct in connection
with his performance of the Services hereunder or any act or omission that is
injurious to the financial condition or business reputation of the Company or
any Group Company; or (iii) the Consultant’s breach of the provisions of
Clauses 6, 7, and/or 11 of this Agreement;

       

      “Commencement Date” means 1
April 2010;

       

      “Company” means collectively,
DHT Maritime, Inc., a company incorporated under the laws of the Republic of the
Marshall Islands (“Maritime”) and DHT Holdings,
Inc., a company incorporated under the laws of the Republic of the Marshall
Islands (“Holdings”);

       

      “Competitor” means any person
that engages in any activity, or owns or controls a significant interest in any
person that engages in any activity, in the voyage chartering and time
chartering of crude oil tankers; provided that a Competitor shall not include
any person who the Board has deemed, through its prior written approval, not to
be a Competitor;

       

      “Confidential Information”
shall mean trade secrets and confidential or proprietary information, knowledge
or data that is or will be used, developed, obtained or owned by the Company
relating to the business, operations, products or services of the Company or of
any customer, supplier, employee or independent contractor thereof, including
products, services, fees, pricing, designs, marketing plans, strategies,
analyses, forecasts, formulas, drawings, photographs, reports, records, computer
software (whether or not owned by, or designed for, the Company), operating
systems, applications, program listings, flow charts, manuals, documentation,
data, databases, specifications, technology, inventions, developments, methods,
improvements, techniques, devices, products, know-how, processes, financial
data, customer or supplier lists, contact persons, cost information, regulatory
matters, employee information, accounting and business methods, trade secrets,
copyrightable works and information with respect to any supplier, customer,
employee or independent contractor of the Company, in each case whether
patentable or unpatentable, whether or not reduced to writing or other tangible
medium of expression and whether or not reduced to practice, and all similar and
related information in any form; provided, however, that Confidential
Information shall not include information that is generally known to the public
other than as a result of disclosure by the Consultant in breach of this
Agreement or in breach of any similar covenant made by the Consultant or any
other duty of confidentiality;

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

       

      “Consultant” means Ole Jacob
Diesen of Krags vei 10, 0783 Oslo, Norway;

       

      “Contract of Employment” means
the employment contract entered into with effect from 16 April 2008 between
Maritime as employer and the Consultant as employee and terminated under this
Agreement;

       

      “Disability” means the
inability of the Consultant, due to illness, accident or any other physical or
mental incapacity, to perform the Services in a normal manner for a period of 60
days (whether or not consecutive) during the Appointment.  The Board
shall determine, on the basis of the facts then available, whether and when the
Disability of the Consultant has occurred.  Such determination shall
take into consideration the expert medical opinion of a physician mutually
agreeable to the Company and the Consultant based upon such physician’s
examination of the Consultant.  The Consultant agrees to make himself
available for such examination upon the reasonable request of the
Company;

       

      “Fee” means the fee to be paid
by the Company to the Consultant in accordance with Clause 6.1;

       

      “Group” means the Group
Companies collectively;

       

      “Group Company” means the
Company, any subsidiary of the Company, the holding company of the Company and
any subsidiary of such holding company;

       

      “holding company” and “subsidiary”  shall
have the respective meanings ascribed to such expressions by section 1159
of the Companies Act 2006;

       

      “Restricted Period” means a
period commencing on the date of the Commencement Date and terminating one year
from the date of termination of the Appointment for any reason.  The
Restricted Period shall be deemed automatically extended by any period in which
the Consultant is in violation of the provisions of Clauses 6, 7, and/or 11;
and

       

      “Services” means the services
to be provided in accordance with Clause 2.2 as set out in Schedule
1.

       

      
        	
                1.2

              	
                The
      headings in this Agreement are for convenience only and are not to be used
      as an aid to construction of this
Agreement.

              

      

       

      
        	
                1.3

              	
                Reference
      to provisions of statutes, rules or regulations shall be deemed to include
      references to such provisions as amended, modified or re-enacted from time
      to time.

              

      

       

      
        	
                2

              	
                APPOINTMENT
      AND TERMINATION OF EMPLOYMENT

              

      

       

      
        	
                2.1

              	
                The
      Company hereby engages the Consultant and the Consultant hereby accepts
      such engagement on the terms and conditions of this
    Agreement.

              

      

       

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

       

      
        
          	
                  2.2

                	
                  The
      Consultant shall be available to the Company for the provision of the
      Services.

                

        

         

      

      
        	
                2.3

              	
                The
      Consultant shall provide the Services at the location agreed between the
      Company and the Consultant.  In the event the parties do not
      agree, then the Consultant shall be directed to provide the Services from
      the Company’s registered offices in
Jersey.

              

      

       

      
        	
                2.4

              	
                The
      Consultant shall not be required to provide the Services on 25 days per
      calendar year (pro-rated for any partial calendar year) or on any public
      holidays in his normal place of residence.  Days on which the
      Consultant shall not provide services in accordance with this Clause shall
      be taken at such reasonable time or times as the Board may
      approve.

              

      

       

      
        	
                2.5

              	
                It
      is agreed that the Consultant’s previous employment with the Company is
      terminated by mutual agreement with effect from the date of this Agreement
      and that the Consultant shall not be entitled to any of the benefits upon
      termination provided for in the Contract of
  Employment.

              

      

       

      
        	
                2.6

              	
                The
      termination of the Consultant’s employment shall not operate so as to
      trigger the provisions relating to vesting or forfeiture in the Award
      Agreements covering stock awards granted to him pursuant to the Contract
      of Employment and the Company's Long Term Incentive
      Plan.  References in the relevant Award Agreements to
      “termination of employment” in the provisions relating to vesting or
      forfeiture shall be read as a reference to the termination of the
      Appointment under this Agreement.

              

      

       

      
        	
                3

              	
                PERIOD
      OF APPOINTMENT

              

      

       

      
        	
                3.1

              	
                The
      Appointment shall commence on the Commencement Date and, subject to
      Clause 13, shall continue for a period of six months thereafter,
      following which it will terminate, unless terminated earlier on the expiry
      of not less than two weeks’ notice in writing given by the Company to the
      Consultant expiring at any time.

              

      

       

      
        	
                4

              	
                DUTIES
      OF THE CONSULTANT

              

      

       

      
        	
                4.1

              	
                The
      Consultant shall exercise all proper skill and care and proper
      professional and technical expertise and judgment in the performance of
      the Services.

              

      

       

      
        	
                4.2

              	
                The
      Consultant shall at all times keep the Board or any other persons as it
      may nominate promptly and fully informed (in writing if so requested) of
      his performance of the Services and provide such explanations as it may
      require in connection therewith.

              

      

       

      
        	
                4.3

              	
                The
      Consultant shall cooperate and, where required, work with any contractors
      doing business with the Company.

              

      

       

      
        	
                5

              	
                COMPLIANCE

              

      

       

      
        	
                5.1

              	
                The
      Services to be provided to the Company shall be provided by the Consultant
      in compliance with all relevant legislation, regulations, codes of
      practice, guidance and other requirements of any relevant government or
      governmental agency.  To the extent that such regulations are
      advisory rather than mandatory, the standard of compliance to be achieved
      by the Consultant shall be best practice of the relevant
      industry.

              

      

       

      
        	
                5.2

              	
                The
      Consultant shall acquaint himself with any working practices, rules or
      procedures applicable to any location where the Consultant is required to
      perform the Services.

              

      

       

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

       

      
        	
                6

              	
                CONFIDENTIALITY

              

      

       

      
        	
                6.1

              	
                The
      Consultant acknowledges that, in the performance of the Services
      hereunder, he may be given access to Confidential
      Information.  The Consultant agrees that all Confidential
      Information has been, is and will be the sole property of the Company and
      that the Consultant has no right, title or interest
      therein.  The Consultant shall not, without prejudice to his
      common law duties, directly or indirectly, disclose or cause or permit to
      be disclosed to any person, or utilize or cause or permit to be utilized,
      by any person, any Confidential Information acquired pursuant to the
      Appointment (whether acquired prior to or subsequent to the execution of
      this Agreement or the Commencement Date) or otherwise, except that the
      Consultant may (i) utilize and disclose Confidential Information as
      required in the performance of the Services hereunder in good faith,
      subject to any restriction, limitation or condition placed on such use or
      disclosure by the Company, and (ii) disclose Confidential Information to
      the extent required by applicable law or as ordered by a court of
      competent jurisdiction.

              

      

       

      
        	
                6.2

              	
                All
      notes, memoranda, records, tapes, discs, writings and designs of any Group
      Company or made or received by the Consultant relating to the business of
      any Group Company shall be and remain the property of the relevant Group
      Company and shall be handed over by the Consultant to the Company from
      time to time on demand, and in any event, upon the termination of the
      Appointment.

              

      

       

      
        	
                6.3

              	
                All
      memoranda, books, records, documents, papers, plans, information, letters,
      computer software and hardware, electronic records and other data relating
      to Confidential Information, whether prepared by the Consultant or
      otherwise, in the Consultant’s possession shall be and remain the
      exclusive property of the Company, and the Consultant shall not directly
      or indirectly assert any interest or property rights therein. Upon
      termination of the Appointment for any reason, and upon the request of the
      Company at any time, the Consultant will immediately deliver to the
      Company all such memoranda, books, records, documents, papers, plans,
      information, letters, computer software and hardware, electronic records
      and other data, and all copies thereof or therefrom, and the Consultant
      will not retain, or cause or permit to be retained, any copies or other
      embodiments of such materials.

              

      

       

      
        	
                7

              	
                CONFLICTS
      OF INTEREST

              

      

       

      
        	
                7.1

              	
                The
      Consultant shall immediately disclose any potential or actual conflict of
      interest to the Company which arises in relation to the provision of the
      Services as a result of any present or future appointment, employment or
      other interest of the Consultant.  The Consultant shall comply
      with the directions of the Company regarding the management and resolution
      of any potential conflict of
interest.

              

      

       

      
        	
                7.2

              	
                During
      the Appointment, the Consultant shall not, directly or indirectly, without
      the prior consent of the Company (such consent not to be unreasonably
      withheld) engage in any employment or other activity that is competitive
      with or adverse to the business, practice or affairs of the Company or any
      Group Company, whether or not such activity is pursued for profit or other
      advantage, or that would conflict or interfere with the performance of the
      Services hereunder, provided that
      the Consultant may serve on civic or charitable boards or committees and
      serve as a non-employee member of a board of directors of a corporation as
      to which the Board has given its consent.  The Board has
      consented to the Consultant serving as a director in any of the companies
      of the I.M. Skaugen Group and any of the companies of the FSN Capital
      Group.  The Consultant shall resign from or terminate all
      positions, relationships and activities that would be inconsistent with
      the foregoing.

              

      

       

      
        	
                8

              	
                NO
      EMPLOYMENT OR PARTNERSHIP

              

      

       

      
        	
                8.1

              	
                This
      Agreement constitutes a contract for the provisions of services and
      nothing contained in this Agreement shall be construed or have effect as
      constituting any relationship of employment, partnership or principal and
      agent between the Company (or any member of the
  Group).

              

      

       

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

       

      
        	
                8.2

              	
                The
      parties agree to use their best endeavours to ensure that the Services are
      not provided in a manner which might be anticipated to cause adverse tax
      consequences for either the Company or the
  Consultant.

              

      

       

      
        	
                9

              	
                FEE

              

      

       

      
        	
                9.1

              	
                The
      consideration for the provision of the Services to the Company by the
      Consultant shall be a monthly fee of US$50,000 payable monthly in arrears,
      on the last working day of each month against delivery of the Consultant's
      invoice setting out the fee.

              

      

       

      
        	
                9.2

              	
                The
      Company shall pay the Consultant within 14 days of receipt of each
      invoice by bank transfer to the Consultant's account at a bank to be
      nominated by the Consultant by written notice to the
    Company.

              

      

       

      
        	
                10

              	
                EXPENSES

              

      

       

      
        	
                10.1

              	
                There
      shall be refunded to the Consultant such sums as shall cover all
      reasonable out-of-pocket expenses wholly and exclusively incurred by him
      in the proper performance of the Group's business including, but not
      limited to, (i) expenses of entertainment, subsistence and travelling,
      which expenses shall be evidenced in such manner as the Board may from
      time to time require, and (ii) agreed accommodation costs of CHF 3,333 per
      calendar month.

              

      

       

      
        	
                11

              	
                COVENANTS

              

      

       

      
        	
                11.1

              	
                The
      Consultant acknowledges that the Company has expended substantial amounts
      of time, money and effort to develop business strategies, substantial
      customer and supplier relationships, goodwill, business and trade secrets,
      confidential information and intellectual property and to build an
      efficient organization and that the Company has a legitimate business
      interest and right in protecting those assets as well as any similar
      assets that the Company may develop or obtain following the Commencement
      Date.  The Consultant acknowledges and agrees that the
      restrictions imposed upon him under this Agreement are reasonable and
      necessary for the protection of such assets and that the restrictions set
      forth in this Agreement will not prevent the Consultant from earning an
      adequate and reasonable livelihood and supporting his dependants without
      violating any provision of this Agreement.  The Consultant
      further acknowledges that the Company would not have agreed to enter into
      this Agreement without the Consultant’s agreeing to enter into, and to
      honour the provisions and covenants of, Clauses 6, 7 and this Clause
      11.  Therefore, the Consultant agrees that, in consideration of
      the Company’s entering into this Agreement and the Company’s obligations
      hereunder and other good and valuable consideration, the receipt of which
      is hereby acknowledged by the Consultant, the Consultant shall be bound
      by, and agrees to honour and comply with, the provisions and covenants
      contained in Clauses 6, 7 and this Clause 11 following the Commencement
      Date.

              

      

       

      
        	
                11.2

              	
                For
      purposes of Clauses 6, 7 and this Clause 11, the term “Company” includes
      the Company and each Group Company, and its and their predecessors,
      successors and assigns.

              

      

       

      
        	
                11.3

              	
                After
      the date hereof, the Consultant shall not, whether in writing or orally,
      criticize or disparage the Company, its business or any of its customers,
      clients, suppliers or vendors or any of its current or former,
      stockholders, directors, officers, employees, agents or representatives or
      any affiliates, directors, officers or employees of any of the foregoing,
      provided that the Consultant may provide critical assessments of the
      Company to the Company during the
Appointment.

              

      

       

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

       

      
        	
                11.4

              	
                The
      Consultant shall not at any time during or after the termination of the
      Appointment make or cause to be made any untrue or misleading statement in
      relation to the Company or the Group nor, in particular, after the
      termination of the Appointment represent himself as being connected with
      the Group.

              

      

       

      
        	
                11.5

              	
                For
      the Restricted Period the Consultant shall not directly or indirectly,
      without the prior written consent of the
Board:

              

      

       

      
        	
                 
      

              	
                (i)

              	
                engage
      in any activity or business, or establish any new business, in any
      location that is involved with the voyage chartering or time chartering of
      crude oil tankers, including assisting any person in any way to do, or
      attempt to do, any of the
foregoing;

              

      

       

      
        	
                 
      

              	
                (ii)

              	
                (A)
      solicit any person that is a customer or client (or prospective customer
      or client) of the Company or any Group Company to purchase any goods or
      services of the type sold by the Company or any Group Company from any
      person other than the Company or any Group Company or to reduce or refrain
      from doing (or otherwise change the terms or conditions of) any business
      with the Company or any Group Company, (B) interfere with or damage (or
      attempt to interfere with or damage) any relationship between the Company
      or any Group Company and their respective employees, customers, clients,
      vendors or suppliers (or any person that the Company or any Group Company
      have approached or have made significant plans to approach as a
      prospective employee, customer, client, vendor or supplier) or any
      governmental authority or any agent or representative thereof or (C)
      assist any person in any way to do, or attempt to do, any of the
      foregoing; or

              

      

       

      
        	
                 
      

              	
                (iii)

              	
                form,
      or acquire a two (2%) percent or greater equity ownership, voting or
      profit participation interest in, any
  Competitor.

              

      

       

      
        	
                11.6

              	
                The
      Consultant agrees that any breach by him of any of the provisions of
      Clauses 6, 7 and/or this Clause 11 shall cause irreparable harm to the
      Company that could not be adequately compensated by monetary damages and
      that, in the event of such a breach, the Consultant shall waive the
      defence in any action for injunctive relief that a remedy at law would be
      adequate, and the Company shall be entitled to (a) enforce the terms and
      provisions of Clauses 6, 7 and/or this Clause 11 without the necessity of
      proving actual damages or posting any bond or providing prior notice and
      (b) cease making any payments or providing any benefit otherwise required
      by this Agreement (including payments under Clause 15), in each case in
      addition to any other remedy to which the Company may be entitled at law
      or in equity.  Without limiting the generality of the foregoing,
      in any proceeding in which the Company seeks enforcement of this Agreement
      or seeks relief from the Consultant’s violation of this Agreement and the
      Company prevails in such proceeding, the Company shall be entitled to
      recover from the Consultant all litigation costs and attorneys’ fees and
      expenses incurred by the Company in any suit, action or proceeding arising
      out of or relating to this
Agreement.

              

      

       

      
        	
                11.7

              	
                The
      Consultant represents and warrants to the Company that the execution and
      delivery of this Agreement by the Consultant and the performance by the
      Consultant of the Services hereunder shall not constitute a breach of, or
      otherwise contravene, or conflict with the terms of any contract,
      agreement, arrangement, policy or understanding to which the Consultant is
      a party or otherwise bound.

              

      

       

      
        	
                11.8

              	
                Following
      the termination of the Appointment, the Consultant shall provide
      reasonable assistance to and cooperation with the Company in connection
      with any suit, action or proceeding (or any appeal therefrom) relating to
      acts or omissions that occurred during the Appointment.  The
      Company shall reimburse the Consultant for any reasonable expenses
      incurred by the Consultant in connection with the provision of such
      assistance and cooperation.

              

      

       

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

       

      
        	
                12

              	
                LIABILITY
      AND INDEMNITY

              

      

       

      
        	
                12.1

              	
                The
      Consultant shall keep the Company indemnified and held harmless from and
      against all actions, proceedings, costs, expenses, loss and damage
      whatsoever arising out of or in connection with the performance of the
      Services by the Consultant or any breach of this
  Agreement.

              

      

       

      
        	
                12.2

              	
                The
      Company or any Group Company may at its option satisfy such indemnity (in
      whole or in part) by way of deduction from any payments due to the
      Consultant.

              

      

       

      
        	
                12.3

              	
                The
      Consultant shall pay all tax and/or social security contributions on a
      self-employed basis.

              

      

       

      
        	
                12.4

              	
                The
      Consultant shall fully co-operate with the Company or any Group Company on
      all tax compliance issues.

              

      

       

      
        	
                12.5

              	
                In
      the event that the Company or any Group Company is required to pay any
      income tax and/or social security contributions in respect of the
      Consultant to any relevant taxing authority in any relevant jurisdiction,
      the Consultant shall, at the written request of the Company or any Group
      Company, immediately pay to the Company or any Group Company an amount
      equal to the said income tax and/or social security contributions and/or
      give credit for any income tax already paid by the
      Consultant.  However, it is agreed that no payment of any such
      income tax and/or social security contributions shall be made to such
      taxing authority without particulars of the proposed payment being given
      to the Consultant as soon as reasonably practicable, and the Consultant
      being given a reasonable opportunity at his own expense, to dispute any
      such payment.

              

      

       

      
        	
                13

              	
                AUTHORITY

              

      

       

      
        	
                13.1

              	
                The
      Consultant shall not hold himself out as having power to nor shall he
      purport to bind the Company in any way
  whatsoever.

              

      

       

      
        	
                14

              	
                TERMINATION

              

      

       

      
        	
                14.1

              	
                Either
      party may terminate this Agreement forthwith by sending a written notice
      to the other if:

              

      

       

      
        	
                (a)

              	
                that
      other commits a material breach of its obligations under this Agreement
      and, in the case of a breach capable of remedy such breach is not remedied
      within 14 days of that other party being specifically required to do so;
      or

              

      

       

      
        	
                (b)

              	
                that
      other ceases to pay its debts or becomes unable to pay its debts within
      the meaning of Section 123 of Part II of the Insolvency Act
      1985;

              

      

       

      
        	
                (c)

              	
                that
      other disposes of the whole or any substantial part of its undertaking or
      assets; or

              

      

       

      
        	
                (d)

              	
                that
      other ceases or threatens to cease to carry on all or any substantial part
      of its business.

              

      

       

      
        	
                14.2

              	
                The
      Company may terminate this Agreement forthwith by sending a written notice
      to the Consultant if the Consultant shall be guilty of
    Cause.

              

      

       

      
        	
                15

              	
                EFFECT
      OF TERMINATION

              

      

       

      
        	
                15.1

              	
                Any
      termination of this Agreement shall be without prejudice to any rights or
      liabilities of the parties which have accrued on or before the date of
      termination.

              

      

       

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

       

      
        	
                15.2

              	
                (i)
      If the Company terminates this Agreement for any reason other than (a)
      Cause or (b) the Consultant’s death or Disability; or (ii) upon expiry of
      the term of this Agreement in accordance with Clause 3 (save where the
      Consultant is at the relevant time guilty of Cause), then in addition to
      any right of the Consultant to notice pursuant to Clause 3: (A) the
      Company shall pay to the Consultant within 14 days of the date of
      termination of the Appointment a lump sum equal to US $900,000 less the fees paid to
      the Consultant under this Agreement; (B) Holdings shall grant or transfer
      to the Consultant 50,000 shares of its common stock for nil consideration;
      and (C) all outstanding equity-based compensation granted to the
      Consultant during his previous employment with the Company shall vest and
      become exercisable on the effective date of the termination of the
      Appointment, subject to the other terms and conditions of such grants,
      provided
      that the Company shall not be obligated to make any payment under this
      Clause 15.2, and the Consultant shall not be entitled to any such
      acceleration, until such time as the Consultant has provided an
      irrevocable waiver and general release of claims (other than the
      Consultant’s rights under this Clause 15.2), in favour of the Company and
      each Group Company, and their respective directors, officers, employees,
      agents and representatives in the form attached as Schedule B hereto;
      provided,
      further,
      that the Company shall be entitled to cease making, and the Consultant
      shall forfeit any entitlement to receive, such payments in the event that
      the Consultant breaches any of his obligations under Clauses 6 and/or
      11.

              

      

       

      
        	
                15.3

              	
                This
      Agreement shall terminate immediately upon the Consultant’s death or
      Disability with no requirement for notice in accordance with Clause
      3.  In the event the Appointment employment terminates due to
      the Consultant’s death or Disability, then: (A) the Company shall pay to
      the Consultant (or, in the event of termination by reason of the
      Consultant’s death, to his personal representatives) within 14 days of the
      date of termination of the Appointment a lump sum equal to US $900,000
      less the fees paid
      to the Consultant under this Agreement; and (B) Holdings shall grant or
      transfer to the Consultant (or, in the event of termination by reason of
      the Consultant’s death, to his personal representatives) 50,000 shares of
      its common stock for nil
consideration.

              

      

       

      
        	
                15.4

              	
                Termination
      of this Agreement shall not affect the continuing enforceability of
      Clauses 6, and/or 11.

              

      

       

      
        	
                16

              	
                NOTICES

              

      

       

      
        	
                16.1

              	
                Any
      notice or other document to be given under this Agreement shall be in
      writing and shall be deemed fully
given:

              

      

       

      
        	
                (a)

              	
                if
      left at or sent by (i) first class post or airmail or (ii) facsimile
      transmission or other means of telecommunication in permanent writing form
      to the address shown on the face hereof or other such address and/or
      number as either party may by notice to the other expressly substitute
      therefor; and

              

      

       

      
        	
                (b)

              	
                when
      in the ordinary course of the means of transmission it would first be
      received by the addressee in normal business
  hours.

              

      

       

      
        	
                16.2

              	
                In
      proving the giving of a notice it shall be sufficient to prove that the
      notice was left or that the envelope containing such notice was properly
      addressed and despatched or, as the case may be, electronically
      acknowledged.

              

      

       

      
        	
                17

              	
                ANCILLARY
      PROVISIONS

              

      

       

      
        	
                17.1

              	
                Assignment.  Neither
      party shall assign, encumber or dispose of any of its rights and
      obligations under this Agreement without the prior written consent of the
      other party which shall not be unreasonably
  withheld.

              

      

       

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

       

      
        	
                17.2

              	
                Severability.  If
      any part of this Agreement is found by a court or other competent
      authority to be invalid, unlawful or unenforceable then such part shall be
      severed from the remainder of this Agreement which shall continue to be
      valid and enforceable to the fullest extent permitted by
    law.

              

      

       

      
        	
                17.3

              	
                Waiver.  No
      delay or failure by either party to exercise any of its powers, rights or
      remedies under this Agreement shall operate as a waiver of them, nor shall
      any single or partial exercise of any such powers, rights or remedies
      preclude any other or further exercise of them.  The remedies
      provided in this Agreement are cumulative and are not exclusive of any
      remedies provided by law.

              

      

       

      
        
          	
                  17.4

                	
                  Entire
      Agreement.

                

        

         

      

      
        	
                (a)

              	
                This
      Agreement supersedes any agreements made or existing between the parties
      before or simultaneously with this Agreement (all of which shall be deemed
      to have been terminated by mutual consent with effect from the date of
      this Agreement) and constitutes the entire understanding between the
      parties in relation to the subject matter of this
    Agreement.

              

      

       

      
        	
                (b)

              	
                Except
      as otherwise permitted by this Agreement, no change to its terms shall be
      effective unless it is in writing and signed by or on behalf of both
      parties.

              

      

       

      
        	
                18

              	
                GOVERNING
      LAW AND JURISDICTION

              

      

       

      
        	
                18.1

              	
                This
      Agreement shall be governed by and interpreted in accordance with English
      law and the parties hereby submit to the jurisdiction of the courts of
      England and Wales.

              

      

       

      

      

      SIGNED by

      for and
on behalf of DHT Maritime, Inc.

       

      
        	 	 	 	 
	 	 	 	 
	Date 	 	 	 	 

      

       

      SIGNED by

      for and
on behalf of DHT Holdings, Inc.

       

      
        
          	 	 	 	 
	 	 	 	 
	Date 	 	 	 	 

        

         

          SIGNED by the
Consultant

           

          
            
              
                	 	 	 	 
	 	 	 	 
	Date 	 	 	 	 

              

              
 

            

          

        

      

       

       

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      

      SCHEDULE A

       

      SERVICES

       

      

      

      
        The
Consultant shall provide the following services to the
Company:

      

      

      
        	
                1

              	
                Act
      as the Company’s co-ordinator on the Moonbeam project, reporting to the
      chairman of the Board.

              

      

       

      
        	
                2

              	
                Working
      with the Company’s chief executive officer on outstanding corporate
      restructuring issues.

              

      

       

      
        	
                3

              	
                Together
      with the Company’s chief executive officer, conducting technical
      supervision of the Group’s vessels.

              

      

       

      
        	
                4

              	
                Such
      other projects as may be requested by the Company’s chief executive
      officer and agreed with the Consultant from time to
  time.

              

      

       

      

      

       

       

       

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      
 

      SCHEDULE B

       

      WAIVER OF
CLAIMS

       

      

      

      Date
[●]
2010

      

      

      

      DHT
MARITIME, INC.

      

      

      DHT
HOLDINGS, INC.

      

      - and
-

      

      

      OLE
JACOB DIESEN

      

      

      _____________________________________________

      

      
        WAIVER
OF CLAIMS

      

      _____________________________________________

      

      
        

        

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

        
          
 

        

      

      

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

       

       

      INDEX

      

      
        	
                Clause

              	
                Page

              

      

      

      
        	
                1

              	
                DEFINITIONS
      AND INTERPRETATION

              	
                13

              
	 
      	 
      	 
      
	
                2

              	
                TERMINATION
      DATE

              	
                14

              
	 
      	 
      	 
      
	
                3

              	
                AMOUNT
      OF COMPENSATION

              	
                14

              
	 
      	 
      	 
      
	
                4

              	
                DATE
      OF PAYMENT

              	
                14

              
	 
      	 
      	 
      
	
                5

              	
                SETTLEMENT

              	
                14

              
	 
      	 
      	 
      
	
                6

              	
                INDEMNITY

              	
                14

              
	 
      	 
      	 
      
	
                7

              	
                CONTINUATION
      IN FORCE OF CONSULTANCY AGREEMENT

              	
                15

              
	 
      	 
      	 
      
	
                8

              	
                RESIGNATION
      OF DIRECTORSHIPS

              	
                15

              
	 
      	 
      	 
      
	
                9

              	
                CONFIDENTIALITY

              	
                15

              
	 
      	 
      	 
      
	
                10

              	
                EQUITABLE
      RELIEF

              	
                15

              
	 
      	 
      	 
      
	
                11

              	
                WARRANTY

              	
                16

              
	 
      	 
      	 
      
	
                12

              	
                BAR
      TO FURTHER PROCEEDINGS

              	
                16

              
	 
      	 
      	 
      
	
                13

              	
                THIRD
      PARTY RIGHTS

              	
                16

              
	 
      	 
      	 
      
	
                14

              	
                GOVERNING
      LAW

              	
                16

              

      

      

      
        	
                SCHEDULE
      A  FORM OF LETTER OF RESIGNATION

              	
                18

              

      

      

    

    
      

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

      

      

      Waiver
of Claims

      

      

      THIS AGREEMENT is made
on [●]
2010

      

      BY AND AMONG:

      

      
        	
                (1)

              	
                DHT Maritime, Inc. of 26
      New Street, St. Helier, Jersey, JE23RA, Channel Islands (“Maritime”);

              

      

       

      
        	
                (2)

              	
                DHT Holdings, Inc. of 26
      New Street, St. Helier, Jersey, JE23RA, Channel Islands (“Holdings” and, together
      with Maritime, the “Company”);
      and

              

      

       

      
        	
                (3)

              	
                Ole Jacob Diesen of
      Krags vei 10, 0783 Oslo, Norway (the “Consultant”)

              

      

       

      PRELIMINARY:

      

      
        	
                (A)

              	
                The
      Consultant was employed by the Company under the terms of an employment
      agreement effective as of 16 April 2008, which terminated on 31 March 2010
      by mutual agreement, and the Consultant was subsequently engaged by the
      Company as a consultant under the terms of a consultancy agreement dated
      [date] (the “Consultancy
      Agreement”).

              

      

       

      
        	
                (B)

              	
                The
      Consultant’s engagement under the Consultancy Agreement is to terminate on
      [date] (the “Termination
      Date”) and the parties wish to enter into a waiver of claims in
      respect of the Consultant’s employment and subsequent engagement as a
      consultant with the Company and the terminations
  thereof.

              

      

       

      IT IS AGREED as
follows:

      

      
        	
                1

              	
                DEFINITIONS
      AND INTERPRETATION

              

      

       

      
        	
                1.1

              	
                In
      this Agreement, unless the context otherwise expressly requires, the
      following expressions shall have the following
  meanings:

              

      

       

      “Agreement”
means this Agreement;

       

      “Board”
means the board of directors of each of Maritime and Holdings or any duly
authorised committee thereof;

       

      “Group”
means the Group Companies collectively;

       

      “Group
Company” means the Company, any subsidiary of the Company, the holding
company of the Company and any subsidiary of such holding company;
and

       

      “holding
company” and
“subsidiary”
shall have the respective meanings ascribed to such expressions by
section 1159 of the Companies Act 2006.

       

      
        	
                1.2

              	
                References
      in this Agreement to clauses and the schedules are, unless otherwise
      stated, to clauses of and schedules to this
  Agreement.

              

      

       

      
        	
                1.3

              	
                The
      headings in this Agreement are for convenience only and are not to be used
      as an aid to construction of this
Agreement.

              

      

       

      
        	
                1.4

              	
                Reference
      to provisions of statutes, rules or regulations shall be deemed to include
      references to such provisions as amended, modified or re-enacted from time
      to time.

              

      

       

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

       

       

      
        	
                2

              	
                TERMINATION
      DATE

              

      

       

      
        	
                2.1

              	
                The
      Consultant agrees that his engagement as a consultant with the Company
      shall terminate on the Termination Date and the Consultant has received
      all sums due to him up to and including the Termination
    Date.

              

      

       

      
        	
                3

              	
                AMOUNT
      OF COMPENSATION

              

      

       

      
        	
                3.1

              	
                The
      Company shall, in accordance with the provisions of Clause 16.2 of the
      Consultancy Agreement, and subject to and conditional upon the conditions
      set out in Clauses 5 to 11, pay the Consultant or otherwise
      compensate him as follows:

              

      

       

      
        	
                (a)

              	
                the
      Company shall pay the Consultant the sum of US$[●] (the
      “Lump Sum”);
      and

              

      

       

      
        	
                (b)

              	
                Holdings
      shall grant or transfer into the Consultant’s ownership 50,000 shares of
      its common stock for nil consideration;
and

              

      

       

      
        	
                (c)

              	
                the Company shall procure that
      all outstanding equity-based compensation granted to the Consultant during
      his previous employment with the Company shall vest and become exercisable
      from the Termination Date, subject to the other terms and conditions of
      such grants.

              

      

       

      
        	
                4

              	
                DATE
      OF PAYMENT

              

      

       

      
        	
                4.1

              	
                The
      Lump Sum will be paid to the Consultant within fourteen days of the
      Termination Date or the date hereof, whichever is the
    later.

              

      

       

      
        	
                4.2

              	
                The
      shares of common stock in Holdings referred to in Clause 3.1(b) shall be
      granted or transferred into the Consultant’s ownership within fourteen
      days of the Termination Date or the date hereof, whichever is the
      later.

              

      

       

      
        	
                4.3

              	
                The
      payments and arrangements set out in Clauses 3 and 4 shall be
      referred to as the “Compensation
      Package”.

              

      

       

      
        	
                5

              	
                SETTLEMENT

              

      

       

      
        	
                5.1

              	
                The
      Compensation Package shall be paid in full and final settlement of all and
      any claims which the Consultant has or may have against the Company or any
      other Group Company arising out of his employment with the Company or its
      termination and/or out of his consultancy with the Company or its
      termination, whether contractual or statutory in whatsoever jurisdiction
      and the Consultant agrees, without prejudice to the foregoing, that the
      Compensation Package shall be offset against any award arising from any
      such claim.  Statutory claims shall include but not be limited
      to any claim under any statutory protection in any jurisdiction afforded
      to the Consultant by virtue of his employment and/or consultancy with the
      Company or the termination(s)
thereof.

              

      

       

      
        	
                6

              	
                INDEMNITY

              

      

       

      
        	
                6.1

              	
                The
      parties agree to use their best endeavours to ensure that the Compensation
      Package is not delivered in a manner which might be anticipated to cause
      adverse tax consequences for either the Company or the
      Consultant.

              

      

       

      
        	
                6.2

              	
                In
      the event that the Company or any Group Company is required to pay any
      income tax and/or social security contributions in respect of the
      Compensation Package to any relevant taxing authority in any relevant
      jurisdiction, the Consultant shall, at the written request of the Company
      or any Group Company, immediately pay to the Company or any Group Company
      an amount equal to the said income tax and/or social security
      contributions and/or give credit for any income tax already paid by the
      Consultant.  However, it is agreed that no payment of any such
      income tax and/or social security contributions shall be made to such
      taxing authority without particulars of the proposed payment being given
      to the Consultant as soon as reasonably practicable, and the Consultant
      being given a reasonable opportunity at his own expense, to dispute any
      such payment.

              

      

       

       

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

       

       

      
        	
                6.3

              	
                The
      Consultant hereby authorises any Group Company to deduct from any monies
      payable by such Group Company to him or to a company owned by him any sums
      owed by him pursuant to this Agreement to that or any other Group
      Company.

              

      

       

      
        	
                7

              	
                CONTINUATION
      IN FORCE OF CONSULTANCY AGREEMENT

              

      

       

      
        	
                7.1

              	
                Notwithstanding
      the termination of his engagement as a consultant of the Company, it is
      affirmed by the Consultant that Clauses 6 and 11 of the Consultancy
      Agreement shall continue in full force and effect for the period or
      periods specified therein, and that he shall comply with the provisions of
      those Clauses for the period or periods specified
  therein.

              

      

       

      
        	
                7.2

              	
                Without
      prejudice to the provisions of Clause 7.1 above, the Consultant shall, on
      the Termination Date, comply with the provisions of Clauses 6.2 and 6.3 of
      the Consultancy Agreement regarding the return of Company
      property.

              

      

       

      
        	
                8

              	
                RESIGNATION
      OF DIRECTORSHIPS

              

      

       

      
        	
                8.1

              	
                The
      Consultant shall not later than the Termination Date resign from any
      offices held by him in any company in the Group together with any other
      offices or memberships held by him by virtue of his employment or
      consultancy with the Company.  In each case his letter of
      resignation shall be in the form of Schedule A.  Should the
      Consultant fail to resign within seven days of being so requested, the
      Company’s chief financial officer is irrevocably appointed as his attorney
      to sign on his behalf any document or do any thing necessary or requisite
      to give effect thereto.

              

      

       

      
        	
                9

              	
                CONFIDENTIALITY

              

      

       

      
        	
                9.1

              	
                The
      Consultant agrees to keep the terms of this waiver of claims strictly
      confidential and agrees not to disclose these terms to any third
      party.  The Consultant agrees that he will not disclose any
      information regarding the terms of this waiver of claims nor give any
      interview or make any statement to any person, television company, radio
      station, newspaper, magazine or other media organisation save and except
      as required by law and save and except that he will be permitted to
      disclose this information to his spouse and to professional advisers
      confidence.

              

      

       

      
        	
                10

              	
                EQUITABLE
      RELIEF

              

      

       

      
        	
                10.1

              	
                The
      Consultant agrees that any breach by him of any of the provisions of
      Clauses 6 and/or 11 of the Consultancy Agreement, and/or Clauses 5 and/or
      7 to 9 of this Agreement shall cause irreparable harm to the Company that
      could not be adequately compensated by monetary damages and that, in the
      event of such a breach, the Consultant shall waive the defence in any
      action for injunctive relief that a remedy at law would be adequate, and
      the Company shall be entitled to (a) enforce the terms and provisions of
      Clauses 6 and/or 11 of the Consultancy Agreement, and/or Clauses 5 and/or
      7 to 9 of this Agreement without the necessity of proving actual damages
      or posting any bond or providing prior notice and (b) cease making any
      payments or providing any benefit otherwise required by this Agreement, in
      each case in addition to any other remedy to which the Company may be
      entitled at law or in equity.  Without limiting the generality
      of the foregoing, in any proceeding in which the Company seeks enforcement
      of this Agreement or seeks relief from the Consultant’s violation of this
      Agreement and the Company prevails in such proceeding, the Company shall
      be entitled to recover from the Consultant all litigation costs and
      attorneys’ fees and expenses incurred by the Company in any suit, action
      or proceeding arising out of or relating to this
  Agreement.

              

      

       

       

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

       

       

      
        	
                11

              	
                WARRANTY

              

      

       

      
        
          	
                  11.1

                	
                  The
      Consultant warrants that:

                

        

         

      

      
        	
                (a)

              	
                he
      has voluntarily entered into this Agreement and without any duress from
      the Company;

              

      

       

      
        	
                (b)

              	
                other
      than as set out in this Agreement the Company has not made any promises,
      representations or inducements to him to enter in to this
      Agreement;

              

      

       

      
        	
                (c)

              	
                he
      has had full opportunity to consult his legal advisers concerning the
      nature, effect and extent of this Agreement;
and

              

      

       

      
        	
                (d)

              	
                he
      is aware that the Company is relying on this warranty in executing this
      Agreement.

              

      

       

      
        	
                12

              	
                BAR
      TO FURTHER PROCEEDINGS

              

      

       

      
        	
                12.1

              	
                The
      Company and the Group are at liberty to plead this Agreement in any court
      of law, tribunal or in any other proceedings arising out of or touching on
      or concerning the matters referred to or contained in this Agreement as a
      bar to such proceedings.

              

      

       

      
        	
                13

              	
                THIRD
      PARTY RIGHTS

              

      

       

      
        	
                13.1

              	
                The
      Company executes this Agreement as the agent and trustee for the Group and
      holds the rights of each member of the Group on trust.  This
      Agreement may be enforced by any Group Company subject to and in
      accordance with the terms of this Agreement and the Contracts (Rights of
      Third Parties) Act 1999.  Nothing in this Agreement confers on
      any third party any benefits under the provisions of the Contracts (Rights
      of Third Parties) Act 1999.

              

      

       

      
        	
                14

              	
                GOVERNING
      LAW

              

      

       

      
        	
                14.1

              	
                This
      Agreement shall be governed by and interpreted in accordance with English
      law and the parties hereby submit to the jurisdiction of the courts of
      England and Wales.

              

      

       

      

      
        
          	
                  Signed

                	 
      	 
      
	 
      	 
      	
                  for
      and on behalf of DHT Maritime,
Inc.

                

        

      

       

      
        
          	
                  Signed

                	 
      	 
      
	 
      	 
      	
                  for
      and on behalf of DHT Maritime,
Inc.

                

        

      

      
This
Agreement has been executed by the Consultant as a Deed and has, on the date
stated at the beginning of this Deed, been delivered as a Deed.

       

      
        	
                SIGNED AS A
DEED

              	
                )

              

      

      
        	
                on
      the date hereof

              	
                )

              

      

      
        	
                by
      the Consultant

              	
                )

              

      

      
        	
                in
      the presence of:

              	
                )

              

      

       

       

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

       

      

      SCHEDULE A

       

      FORM OF
LETTER OF RESIGNATION

       

      

      

       [Date]

      

      
        
          	
                  To:

                	
                  The
      Directors

                
	 
      	
                  [●] (the
      “Company”)

                

        

         

        
          	
                  From:

                	
                  [●]

                

        

      

      

      Dear
Sirs

      

      I hereby
confirm my resignation from my directorship of the Company.  I confirm
that I have no claims for compensation in connection with such
resignation.

      

      Yours
faithfully

      

      
 

       

       

       

       

       

       

       

       

      17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]