We measure singlet-triplet dephasing in a two-electron double quantum dot in the presence of an exchange interaction which can be electrically tuned from much smaller to much larger than the hyperfine energy. Saturation of dephasing and damped oscillations of the spin correlator as a function of time are observed when the two interaction strengths are comparable. Both features of the data are compared with predictions from a quasistatic model of the hyperfine field.