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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">As filed with the Securities and Exchange Commission on June 12, 2009</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: right"><font size="2">Registration No. 333-</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: right">&nbsp;</p>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><b><font size="3">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><small>WASHINGTON,</small> <small>D.C.</small> 20549</p>

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        <p dir="ltr" style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0px" align="center"><font size="4">FORM S-8</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="3">REGISTRATION STATEMENT</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="3">UNDER</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><small>THE</small> <small>SECURITIES</small> <small>ACT</small> <small>OF</small> 1933</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><b><font size="4">OVERSEAS SHIPHOLDING GROUP, INC.</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">(Exact Name of Registrant as Specified in Its Charter)</font></p>

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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">Delaware</font></b></p>
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                                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">13-2637623</font></b></p>
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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">(State or Other Jurisdiction of Incorporation or Organization)</font></p>
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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                                    </td>

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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">(I.R.S. Employer Identification Number)</font></p>
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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="center"><u><b><font size="2">666 Third Avenue, New York, New York 10017</font></b></u></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="center"><font size="2">(Address of Principal Executive Offices)</font> <font size="2">(Zip code)</font></p>

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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">OVERSEAS SHIPHOLDING GROUP, INC. 2004 STOCK INCENTIVE PLAN</font></b></p>
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                                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><br>
                                            <font size="2">(Full Title of The Plan)</font></p>

                                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">James I. Edelson</font><br>
                                        <font size="2">General Counsel and Secretary</font><br>
                                        <font size="2">Overseas Shipholding Group, Inc.</font><br>
                                        <font size="2">666 Third Avenue</font><br>
                                        <font size="2">New York, New York 10017</font><br>
                                        <font size="2">(212) 953-4100</font><br>
                                        <font size="2">(Name, Address, and Telephone Number, Including Area Code, of Agent For Service)</font></p>
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        <p>&nbsp;</p>

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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Indicate by check mark whether the registrant is a large accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &ldquo;large accelerated filer&rdquo;, &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2 of the Exchange Act.</font></p>
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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                                    </td>

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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Large accelerated filer</font></p>
                                    </td>

                                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="42">
                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">[ X ]</font></p>
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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Accelerated filer</font></p>
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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">[ ]</font></p>
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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Non-accelerated filer</font></p>

                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">(Do not check if a smaller reporting company)</font></p>
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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">[ ]</font></p>
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                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                                    </td>

                                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="217">
                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Smaller reporting company</font></p>
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                                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="61">
                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">[ ]</font></p>
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        <p>&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

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                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">CALCULATION OF REGISTRATION FEE</font></b></p>
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                            <font size="2">Title of securities</font><br>
                            <font size="2">to be registered</font></p>
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                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0.7pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><br>
                            <font size="2">Amount to be</font><br>
                            <font size="2">registered (1)</font></p>
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                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0.7pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">Proposed maximum</font><br>
                            <font size="2">offering price</font><br>
                            <font size="2">per share (2)</font></p>
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                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0.7pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">Proposed maximum</font><br>
                            <font size="2">aggregate offering</font><br>
                            <font size="2">price (2)</font></p>
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                    <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.7pt; BORDER-TOP: black 2.25pt double; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="109">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0.7pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">Amount of</font><br>
                            <font size="2">registration</font><br>
                            <font size="2">fee (3)</font></p>
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                        <p style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0.7pt; MARGIN-LEFT: 0pt; BORDER-LEFT: white 1pt solid; TEXT-INDENT: 0pt; BORDER-BOTTOM: white 1pt solid; TEXT-ALIGN: left" align="center"><br>
                        <font size="2">Common Stock, par value $1.00 per share</font></p>
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                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="bottom" width="140">
                        <p style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0.7pt; MARGIN-LEFT: 0pt; BORDER-LEFT: white 1pt solid; TEXT-INDENT: 0pt; BORDER-BOTTOM: white 1pt solid; TEXT-ALIGN: center"><br>
                        <br>
                        <br>
                        <font size="2">1,115,000 shares</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="bottom" width="140">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0.7pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><br>
                            <br>
                            <br>
                            <font size="2">$32.715</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="bottom" width="128">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0.7pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><br>
                            <br>
                            <br>
                            <font size="2">$36,477,225</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="bottom" width="109">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0.7pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><br>
                            <br>
                            <br>
                            <font size="2">$2,035.43</font></p>
                        </div>
                    </td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
            <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                    <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                        <div align="left">
                            <table style="MARGIN-LEFT: 5.4pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="200" border="0">
                                <tr>
                                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="638">
                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                                    </td>
                                </tr>
                            </table>
                        </div>
                    </blockquote>
                </blockquote>
            </blockquote>
        </blockquote>

        <p>&nbsp;</p>

        <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
            <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                    <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                        <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                            <div align="left">
                                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="638" border="0">
                                    <tr>
                                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">(1)</font></p>
                                        </td>

                                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="595">
                                            <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                                                <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 2.2pt; MARGIN-LEFT: 0.9pt; TEXT-INDENT: -0.9pt; TEXT-ALIGN: left"><font size="2">Represents the additional number of shares of Overseas Shipholding Group, Inc. (the "Corporation" or the "Registrant") common stock, par value $1.00 per share ("Common Stock") that may be granted under the Overseas Shipholding Group, Inc. 2004 Stock Incentive Plan (as amended and restated on June 10, 2008, the
                                                "Plan").</font></p>
                                            </div>
                                        </td>
                                    </tr>

                                    <tr>
                                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                                        </td>

                                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="595">
                                            <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                                                <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 2.2pt; MARGIN-LEFT: 0.9pt; TEXT-INDENT: -0.9pt; TEXT-ALIGN: left">&nbsp;</p>
                                            </div>
                                        </td>
                                    </tr>

                                    <tr>
                                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">(2)</font></p>
                                        </td>

                                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="595">
                                            <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                                                <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 2.2pt; MARGIN-LEFT: 0.9pt; TEXT-INDENT: -0.9pt; TEXT-ALIGN: left"><font size="2">Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457. Calculated on the basis of the average high and low sale prices of the Common Stock as reported on the New York Stock Exchange on June 8, 2009.</font></p>
                                            </div>
                                        </td>
                                    </tr>

                                    <tr>
                                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                                        </td>

                                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="595">
                                            <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                                                <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 2.2pt; MARGIN-LEFT: 0.9pt; TEXT-INDENT: -0.9pt; TEXT-ALIGN: left">&nbsp;</p>
                                            </div>
                                        </td>
                                    </tr>

                                    <tr>
                                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">(3)</font></p>
                                        </td>

                                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="595">
                                            <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                                                <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 2.2pt; MARGIN-LEFT: 0.9pt; TEXT-INDENT: -0.9pt; TEXT-ALIGN: left"><font size="2">Pursuant to General Instruction E of Form S-8, a filing fee is being paid with respect to registration of the additional securities only.</font></p>
                                            </div>
                                        </td>
                                    </tr>

                                    <tr>
                                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                                        </td>

                                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="595">
                                            <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                                                <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 2.2pt; MARGIN-LEFT: 0.9pt; TEXT-INDENT: -0.9pt; TEXT-ALIGN: justify">&nbsp;</p>
                                            </div>
                                        </td>
                                    </tr>
                                </table>
                            </div>
                        </blockquote>
                    </blockquote>
                </blockquote>
            </blockquote>
        </blockquote>

        <p>&nbsp;</p>

        <p align="center"><u><font size="2">Explanatory Note</font></u></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left"><font size="2">Pursuant to General Instruction E of Form S-8, the Registrant hereby makes the following statement:</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left"><font size="2">This Registration Statement on Form S-8 is filed by the Registrant to register an additional 362,640 shares of Common Stock (the &ldquo;Additional Shares&rdquo;) which may be awarded under the Plan pursuant to an amendment and restatement of the Plan authorized by the stockholders of the Registrant on June 10, 2008. The Additional Shares are in addition to the 2,752,360 shares of the
        Common Stock which were previously registered pursuant to the Registration Statement on Form S-8 (Commission File No. 333-121188) filed on December 13, 2004 (the &ldquo;Prior Plan Registration Statement&rdquo;). Pursuant to Instruction E of Form S-8, the contents of the Prior Plan Registration Statement are hereby incorporated by reference.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Footer">
            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><a name="PAGENUM"><font size="2">2</font></a></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr align="center" width="100%" noshade size="2">
        </div>

        <p align="center"><b><font size="2">PART II</font></b></p>

        <p>&nbsp;</p>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="638" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" colspan="3">
                        <div style="BORDER-RIGHT: white 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: white 1pt solid; PADDING-LEFT: 1pt; PADDING-BOTTOM: 0in; BORDER-LEFT: white 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 57.75pt; TEXT-ALIGN: center"><font size="2">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</font></p>
                        </div>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="79">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><u><font size="2">Item 3</font></u><font size="2">.</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="541">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><u><font size="2">Incorporation of Documents By Reference</font></u><font size="2">.</font></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" colspan="3">
                        <div style="BORDER-RIGHT: white 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: white 1pt solid; PADDING-LEFT: 1pt; PADDING-BOTTOM: 0in; BORDER-LEFT: white 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><font size="2">The contents of the Prior Plan Registration Statement previously filed with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) are incorporated herein by reference. In addition, the following new documents filed with the Commission by the Corporation are incorporated herein by reference:</font></p>
                        </div>
                    </td>
                </tr>
            </table>
        </div>

        <p>&nbsp;</p>

        <div align="left">
            <table style="MARGIN-LEFT: 41.4pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="638" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="53">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0in; TEXT-ALIGN: justify"><font size="2">(1)</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <div style="BORDER-RIGHT: white 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: white 1pt solid; PADDING-LEFT: 1pt; PADDING-BOTTOM: 0in; BORDER-LEFT: white 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2008;</font></p>
                        </div>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="53">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">(2)</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">the Company&rsquo;s Quarterly Report on Form 10-Q for the quarter ended March 31, 2009;</font></p>
                        </div>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="53">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">(3)</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <div style="BORDER-RIGHT: white 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: white 1pt solid; PADDING-LEFT: 1pt; PADDING-BOTTOM: 0in; BORDER-LEFT: white 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">the Company's Current Reports on Form 8-K dated January 7, 2009, January 26, 2009, January 28, 2009, March 6, 2009 and May 7, 2009;</font></p>
                        </div>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="53">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">(4)</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">the description of the Registrant&rsquo;s Common Stock contained in its Registration Statement on Form 8-A (Commission File No. 001-06479) together with any amendment or report filed with the Commission for the purpose of updating this description; and</font></p>
                        </div>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="53">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">(5)</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">all documents subsequently filed by the Corporation pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by
                            reference in this Registration Statement and to be part hereof from the date of filing such documents.</font></p>
                        </div>
                    </td>
                </tr>
            </table>
        </div>

        <p><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any statement in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for the purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such
        statement.&nbsp; Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</font></p>

        <div title="EE+ Page Footer">
            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><a name="PAGENUM"><font size="2">II-1</font></a></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr align="center" width="100%" noshade size="2">
        </div>

        <p style="BORDER-RIGHT: 0.75pt solid; PADDING-RIGHT: 0px; BORDER-TOP: 0.75pt solid; MARGIN-TOP: 0pt; PADDING-LEFT: 0px; MARGIN-BOTTOM: 2.4pt; BORDER-LEFT: 0.75pt solid; TEXT-INDENT: 0.5in; PADDING-TOP: 0px; TEXT-ALIGN: justify"></p>

        <p>&nbsp;</p>

        <div align="left">
            <table style="MARGIN-LEFT: 41.4pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="594" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><u><font size="2">Item 8</font></u><font size="2">.</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="534">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Exhibits.</font></p>
                        </div>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">4.3</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="534">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Overseas Shipholding Group, Inc. 2004 Stock Incentive Plan (as amended and restated on June 10, 2008) (incorporated by reference to Appendix A to the Proxy Statement of the Registrant, filed with the Commission on April 29, 2008).</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="534">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">*5.1</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="534">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Opinion of James I. Edelson.</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="534">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">*15</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="534">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Acknowledgement of Ernst &amp; Young LLP.</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="534">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">*23.1</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="534">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Consent of Ernst &amp; Young LLP.</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="534">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">*23.2</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="534">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Consent of James I. Edelson (included in Exhibit 5.1).</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="534">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="60">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">*24.1</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="534">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Power of Attorney (included on signature page).</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <p>&nbsp;</p>

        <div align="left">
            <table style="MARGIN-LEFT: 41.4pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="200" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="638">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="638">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="638">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">* Filed herewith.</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <div align="left">
            &nbsp;
        </div>

        <div align="left">
            &nbsp;
        </div>

        <p align="left"></p>

        <p><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on June 12,
        2009.</font></p>

        <p></p>

        <div align="left">
            &nbsp;
        </div>

        <div align="left">
            &nbsp;
        </div>

        <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
            <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                    <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                        <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                            <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                                <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                                    <div align="right">
                                        <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="300" align="center" border="0">
                                            <tr>
                                                <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" colspan="2">
                                                    <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">OVERSEAS SHIPHOLDING GROUP, INC.</font></p>
                                                    </div>
                                                </td>
                                            </tr>

                                            <tr>
                                                <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" colspan="2">
                                                    <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                                                    </div>
                                                </td>
                                            </tr>

                                            <tr>
                                                <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="23">
                                                    <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                                                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">By:</font></p>
                                                    </div>
                                                </td>

                                                <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="615">
                                                    <div>
                                                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">/s/Myles R. Itkin</font></p>
                                                    </div>
                                                </td>
                                            </tr>

                                            <tr style="HEIGHT: 63pt">
                                                <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 63pt" valign="top" colspan="2">
                                                    <p style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; BORDER-LEFT: white 1pt solid; TEXT-INDENT: 24pt; BORDER-BOTTOM: white 1pt solid; TEXT-ALIGN: left"><font size="2">Myles R. Itkin</font><br>
                                                    <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President,</font><br>
                                                    <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer</font><br>
                                                    <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and Treasurer</font></p>
                                                </td>
                                            </tr>
                                        </table>
                                    </div>
                                </blockquote>
                            </blockquote>
                        </blockquote>
                    </blockquote>
                </blockquote>
            </blockquote>
        </blockquote>

        <p>&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Footer">
            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><a name="PAGENUM"><font size="2">II-2</font></a></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr align="center" width="100%" noshade size="2">
        </div>

        <p style="BORDER-RIGHT: 0.75pt solid; PADDING-RIGHT: 0px; BORDER-TOP: 0.75pt solid; MARGIN-TOP: 0pt; PADDING-LEFT: 0px; MARGIN-BOTTOM: 2.4pt; PADDING-BOTTOM: 0px; BORDER-LEFT: 0.75pt solid; PADDING-TOP: 0px; BORDER-BOTTOM: 0.75pt solid; TEXT-ALIGN: center"></p>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="667" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="667">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">POWER OF ATTORNEY</font></b></p>
                        </div>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="667">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 39pt; TEXT-ALIGN: justify"><b><font size="2">KNOW ALL MEN BY THESE PRESENT</font></b> <font size="2">that each person whose signature appears below as a signatory to this Registration Statement constitutes and appoints Morten Arntzen and Myles R. Itkin, his true and lawful attorney-in-fact and agents, each acting alone, with full power of substitution and resubstitution, for him and in his
                        name, place and stead, in any and all capacities, to sign any and all amendments to this Registration Statement, and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agents, each acting alone, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all
                        intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, each acting alone, or his substitute may lawfully do or cause to be done by virtue thereof.</font></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 39pt; TEXT-ALIGN: justify"><font size="2">Pursuant to the requirements of the Securities Act, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <p>&nbsp;</p>

        <div align="left">
            <table style="MARGIN-LEFT: 0.7pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="678" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0.25in; TEXT-ALIGN: left"><u><b><font size="2">Signature</font></b></u></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0.25in; TEXT-ALIGN: left"><u><b><font size="2">Title</font></b></u></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0.25in; TEXT-ALIGN: left"><u><b><font size="2">Date</font></b></u></p>
                        </div>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <u><b><font size="2">/</font></b><font size="2">s/Morten Arntzen</font></u><br>
                            <font size="2">Morten Arntzen</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">President, Chief Executive Officer and Director (Principal Executive Officer)</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">June 12, 2009</font></p>
                        </div>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <u><font size="2">/s/Myles R. Itkin</font></u><br>
                            <font size="2">Myles R. Itkin</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <font size="2">Executive Vice President, Chief Financial Officer and Treasurer (Principal Financial and Accounting Officer)</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <font size="2">June 12, 2009</font></p>
                        </div>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <u><font size="2">/s/Michael J. Zimmerman</font></u><br>
                            <font size="2">Michael J. Zimmerman</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">Chairman of the Board of Directors</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">June 12, 2009</font></p>
                        </div>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                        <br>
                        <u><font size="2">/s/G. Allen Andreas III</font></u><br>
                        <font size="2">G. Allen Andreas III</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                        <br>
                        <font size="2">Director</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                        <br>
                        <font size="2">June 12, 2009</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                        <br>
                        <u><font size="2">/s/Alan R. Batkin</font></u><br>
                        <font size="2">Alan R. Batkin</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                        <br>
                        <font size="2">Director</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                        <br>
                        <font size="2">June 12, 2009</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                        <br>
                        <u><font size="2">/s/Thomas B. Coleman</font></u><br>
                        <font size="2">Thomas B. Coleman</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                        <br>
                        <font size="2">Director</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                        <br>
                        <font size="2">June 12, 2009</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Footer">
            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><a name="PAGENUM"><font size="2">II-3</font></a></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr align="center" width="100%" noshade size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div align="left">
            <table style="MARGIN-LEFT: 0.7pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="678" border="0">
                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <u><font size="2">/s/Charles A. Fribourg</font></u><br>
                            <font size="2">Charles A. Fribourg</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">Director</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">June 12, 2009</font></p>
                        </div>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <u><font size="2">/s/Stanley Komaroff</font></u><br>
                            <font size="2">Stanley Komaroff</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">Director</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">June 12, 2009</font></p>
                        </div>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <u><font size="2">/s/Solomon N. Merkin</font></u><br>
                            <font size="2">Solomon N. Merkin</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">Director</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">June 12, 2009</font></p>
                        </div>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <u><font size="2">/s/Joel I. Picket</font></u><br>
                            <font size="2">Joel I. Picket</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">Director</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">June 12, 2009</font></p>
                        </div>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <u><font size="2">/s/Ariel Recanati</font></u><br>
                            <font size="2">Ariel Recanati</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">Director</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">June 12, 2009</font></p>
                        </div>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <u><font size="2">/s/Oudi Recanati</font></u><br>
                            <font size="2">Oudi Recanati</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">Director</font></p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                            <br>
                            <font size="2">June 12, 2009</font></p>
                        </div>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                        <br>
                        <u><font size="2">/s/Thomas F. Robards</font></u><br>
                        <font size="2">Thomas F. Robards</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                        <br>
                        <font size="2">Director</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                        <br>
                        <font size="2">June 12, 2009</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                        <br>
                        <u><font size="2">/s/Jean-Paul Vettier</font></u><br>
                        <font size="2">Jean-Paul Vettier</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                        <br>
                        <font size="2">Director</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="18">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </div>
                    </td>

                    <td style="PADDING-RIGHT: 0.7pt; PADDING-LEFT: 0.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><br>
                        <br>
                        <font size="2">June 12, 2009</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <p>&nbsp;</p>

        <p>&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Footer">
            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><a name="PAGENUM"><font size="2">II-4</font></a></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr align="center" width="100%" noshade size="2">
        </div>

        <p style="BORDER-RIGHT: 0.75pt solid; PADDING-RIGHT: 0px; BORDER-TOP: 0.75pt solid; MARGIN-TOP: 0pt; PADDING-LEFT: 0px; MARGIN-BOTTOM: 0pt; BORDER-LEFT: 0.75pt solid; PADDING-TOP: 0px; TEXT-ALIGN: left"></p>

        <p>&nbsp;</p>

        <p>&nbsp;</p>

        <div align="left">
            <table style="MARGIN-LEFT: 5.4pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="638" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" colspan="2">
                        <div style="BORDER-RIGHT: white 1pt solid; BORDER-TOP: white 1pt solid; BORDER-LEFT: white 1pt solid; BORDER-BOTTOM: white 1pt solid">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 198.75pt; TEXT-ALIGN: center"><b><font size="2">Exhibit Index</font></b></p>
                        </div>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><u><font size="2">Exhibit No.</font></u></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="541">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><u><font size="2">Document</font></u></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="541">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">4.3</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="541">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Overseas Shipholding Group, Inc. 2004 Stock Incentive Plan (as amended and restated on June 10, 2008) (incorporated by reference to Appendix A to the Proxy Statement of the Registrant, filed with the Commission on April 29, 2008).</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="541">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">*5.1</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="541">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Opinion of James I. Edelson.</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="541">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">*15</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="541">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Acknowledgement of Ernst &amp; Young LLP.</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="541">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">*23.1</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="541">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Consent of Ernst &amp; Young LLP.</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="541">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="97">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">*23.2</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="541">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Consent of James I. Edelson (included in Exhibit 5.1).</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="97">
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                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">*24.1</font></p>
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                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Power of Attorney (included on signature page).</font></p>
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[{"type": "S-8", "sequence": "1", "filename": "regiss8.htm", "secsgml_size_bytes": 124883}]
{"company-data": {"conformed-name": "OVERSEAS SHIPHOLDING GROUP INC", "cik": "0000075208", "assigned-sic": "4412", "irs-number": "132637623", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-159956", "film-number": "09890347"}, "business-address": {"street1": "666 THIRD AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10017", "phone": "2122511153"}, "mail-address": {"street1": "666 THIRD AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10017"}}
As filed with the Securities and Exchange Commission on June 12, 2009
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON,
D.C.
20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE
SECURITIES
ACT
OF
1933
OVERSEAS SHIPHOLDING GROUP, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
13-2637623
(State or Other Jurisdiction of Incorporation or Organization)
(I.R.S. Employer Identification Number)
666 Third Avenue, New York, New York 10017
(Address of Principal Executive Offices)
(Zip code)
OVERSEAS SHIPHOLDING GROUP, INC. 2004 STOCK INCENTIVE PLAN
(Full Title of The Plan)
James I. Edelson
General Counsel and Secretary
Overseas Shipholding Group, Inc.
666 Third Avenue
New York, New York 10017
(212) 953-4100
(Name, Address, and Telephone Number, Including Area Code, of Agent For Service)
Indicate by check mark whether the registrant is a large accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer", "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
[ X ]
Accelerated filer
[ ]
Non-accelerated filer
(Do not check if a smaller reporting company)
[ ]
Smaller reporting company
[ ]
CALCULATION OF REGISTRATION FEE
Title of securities
to be registered
Amount to be
registered (1)
Proposed maximum
offering price
per share (2)
Proposed maximum
aggregate offering
price (2)
Amount of
registration
fee (3)
Common Stock, par value $1.00 per share
1,115,000 shares
$32.715
$36,477,225
$2,035.43
(1)
Represents the additional number of shares of Overseas Shipholding Group, Inc. (the "Corporation" or the "Registrant") common stock, par value $1.00 per share ("Common Stock") that may be granted under the Overseas Shipholding Group, Inc. 2004 Stock Incentive Plan (as amended and restated on June 10, 2008, the
                                                "Plan").
(2)
Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457. Calculated on the basis of the average high and low sale prices of the Common Stock as reported on the New York Stock Exchange on June 8, 2009.
(3)
Pursuant to General Instruction E of Form S-8, a filing fee is being paid with respect to registration of the additional securities only.
Explanatory Note
Pursuant to General Instruction E of Form S-8, the Registrant hereby makes the following statement:
This Registration Statement on Form S-8 is filed by the Registrant to register an additional 362,640 shares of Common Stock (the "Additional Shares") which may be awarded under the Plan pursuant to an amendment and restatement of the Plan authorized by the stockholders of the Registrant on June 10, 2008. The Additional Shares are in addition to the 2,752,360 shares of the
        Common Stock which were previously registered pursuant to the Registration Statement on Form S-8 (Commission File No. 333-121188) filed on December 13, 2004 (the "Prior Plan Registration Statement"). Pursuant to Instruction E of Form S-8, the contents of the Prior Plan Registration Statement are hereby incorporated by reference.
2
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3
.
Incorporation of Documents By Reference
.
The contents of the Prior Plan Registration Statement previously filed with the Securities and Exchange Commission (the "Commission") are incorporated herein by reference. In addition, the following new documents filed with the Commission by the Corporation are incorporated herein by reference:
(1)
the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2008;
(2)
the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2009;
(3)
the Company's Current Reports on Form 8-K dated January 7, 2009, January 26, 2009, January 28, 2009, March 6, 2009 and May 7, 2009;
(4)
the description of the Registrant's Common Stock contained in its Registration Statement on Form 8-A (Commission File No. 001-06479) together with any amendment or report filed with the Commission for the purpose of updating this description; and
(5)
all documents subsequently filed by the Corporation pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by
                            reference in this Registration Statement and to be part hereof from the date of filing such documents.
Any statement in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for the purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such
        statement.  Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
II-1
Item 8
.
Exhibits.
4.3
Overseas Shipholding Group, Inc. 2004 Stock Incentive Plan (as amended and restated on June 10, 2008) (incorporated by reference to Appendix A to the Proxy Statement of the Registrant, filed with the Commission on April 29, 2008).
*5.1
Opinion of James I. Edelson.
*15
Acknowledgement of Ernst & Young LLP.
*23.1
Consent of Ernst & Young LLP.
*23.2
Consent of James I. Edelson (included in Exhibit 5.1).
*24.1
Power of Attorney (included on signature page).
* Filed herewith.
Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on June 12,
        2009.
OVERSEAS SHIPHOLDING GROUP, INC.
By:
/s/Myles R. Itkin
Myles R. Itkin
Executive Vice President,
Chief Financial Officer
and Treasurer
II-2
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENT
that each person whose signature appears below as a signatory to this Registration Statement constitutes and appoints Morten Arntzen and Myles R. Itkin, his true and lawful attorney-in-fact and agents, each acting alone, with full power of substitution and resubstitution, for him and in his
                        name, place and stead, in any and all capacities, to sign any and all amendments to this Registration Statement, and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agents, each acting alone, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all
                        intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, each acting alone, or his substitute may lawfully do or cause to be done by virtue thereof.
Pursuant to the requirements of the Securities Act, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/
s/Morten Arntzen
Morten Arntzen
President, Chief Executive Officer and Director (Principal Executive Officer)
June 12, 2009
/s/Myles R. Itkin
Myles R. Itkin
Executive Vice President, Chief Financial Officer and Treasurer (Principal Financial and Accounting Officer)
June 12, 2009
/s/Michael J. Zimmerman
Michael J. Zimmerman
Chairman of the Board of Directors
June 12, 2009
/s/G. Allen Andreas III
G. Allen Andreas III
Director
June 12, 2009
/s/Alan R. Batkin
Alan R. Batkin
Director
June 12, 2009
/s/Thomas B. Coleman
Thomas B. Coleman
Director
June 12, 2009
II-3
/s/Charles A. Fribourg
Charles A. Fribourg
Director
June 12, 2009
/s/Stanley Komaroff
Stanley Komaroff
Director
June 12, 2009
/s/Solomon N. Merkin
Solomon N. Merkin
Director
June 12, 2009
/s/Joel I. Picket
Joel I. Picket
Director
June 12, 2009
/s/Ariel Recanati
Ariel Recanati
Director
June 12, 2009
/s/Oudi Recanati
Oudi Recanati
Director
June 12, 2009
/s/Thomas F. Robards
Thomas F. Robards
Director
June 12, 2009
/s/Jean-Paul Vettier
Jean-Paul Vettier
Director
June 12, 2009
II-4
Exhibit Index
Exhibit No.
Document
4.3
Overseas Shipholding Group, Inc. 2004 Stock Incentive Plan (as amended and restated on June 10, 2008) (incorporated by reference to Appendix A to the Proxy Statement of the Registrant, filed with the Commission on April 29, 2008).
*5.1
Opinion of James I. Edelson.
*15
Acknowledgement of Ernst & Young LLP.
*23.1
Consent of Ernst & Young LLP.
*23.2
Consent of James I. Edelson (included in Exhibit 5.1).
*24.1
Power of Attorney (included on signature page).
* Filed herewith.