Item 1.01. Entry into a Material Definitive Agreement.

On January 13, 2021, Diamond S Management LLC ("DSM") a wholly-owned subsidiary of Diamond S Shipping Inc. (the "Company"), through which the Company's named executive officers are employed, entered into amendment agreements to the employment agreements with each of the Company's named executive officers (the "Amendment Agreements"). Following the Amendment Agreements, which are effective as of April 2020, each named executive officer is eligible to receive a discretionary cash bonus as determined by the Board of Directors of the Company (or the applicable committee or sub-committee to which such authority has been delegated) with a target amount equal to a certain percentage of their annual base salary, of which 60% shall be subject to goals based on the Company's performance, 20% shall be based on the achievement of certain individual goals unique to each named executive officer and 20% shall be based on an evaluation of the named executive officer's individual performance.

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