At the Effective Time, in accordance with the terms of the Merger Agreement, all of the directors of Diamond S ceased serving as directors of Diamond S or as members of any and all committees of Diamond S’s board of directors. The departures were not due to any disagreement with Diamond S regarding any matter related to Diamond S’s operations, policies or practices. In connection with the Merger, Lois K. Zabrocky, Jeffrey D. Pribor and James D. Small III were appointed as the directors of Diamond S. As contemplated by the Merger Agreement, the board of directors of INSW voted to expand the size of the board from eight members to ten members. To fill the vacancies resulting from the increased size of the board of directors of the combined company and the voluntary resignation of a director of the INSW board of directors prior to the Effective Time, Craig H. Stevenson, Jr., Alexandra K. Blankenship and Nadim Qureshi, each of whom was a member of the board of directors of Diamond S immediately prior to the Effective Time, have been appointed to the board of directors of the combined company as of the Effective Time. In addition, in connection with the consummation of the Merger, the following persons have been appointed as the officers of Diamond S, with each such officer to hold office until his or her successor is duly elected or appointed and qualified in accordance with applicable law or their earlier death, incapacitation, retirement, resignation or removal: Lois K. Zabrocky as President, Jeffrey D. Pribor as Vice President and Treasurer, William F. Nugent as Vice President, Derek G. Solon as Vice President and James D. Small III as Vice President and Secretary.