EX-10.1



 EXHIBIT 10.1 

FOURTH AMENDMENT TO MANAGEMENT AGREEMENT 

This FOURTH AMENDMENT TO THE MANAGEMENT AGREEMENT (this “Amendment”), dated as of May 19, 2016 is made by and between
Navios Maritime Acquisition Corporation, a Marshall Islands corporation (“NMAC”) and Navios Tankers Management Inc., a Marshall Islands corporation (“Tankers Management”, and together with NMAC, the
“Parties”) and amends the Management Agreement (including all amendments thereto, the “Agreement”) entered into between NMAC and Navios Shipmanagement Inc. (“Shipmanagement”) on May 28, 2010 as such
Agreement was assigned to Tankers Management via an assignment agreement among the Parties and Shipmanagement dated September 10, 2010 and subsequently amended. Capitalized terms used and not otherwise defined in this Amendment shall have the
meanings given them in the Agreement. 

W I T N E S S E T H:

 WHEREAS, the Parties desire to amend the Agreement. 

NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Parties hereby agree as follows: 
  

	 	1.	The fourth paragraph of the first page of the Agreement shall be amended and restated in its entirety as follows: 


“NOW THEREFORE, the parties agree that, in consideration for the Manager providing the commercial and technical management services set
forth in Schedule “A” to this Agreement (the “Services”), and subject to the Terms and Conditions set forth in Article I attached hereto, Navios Acquisition shall (i) from May 29, 2016 until
May 28, 2018, pay to the Manager the fees set forth in Schedule “B” to this Agreement (the “Fees”) and, if applicable, the Extraordinary Fees and Costs and (ii) during the remaining two (2) years
(expiring on May 28, 2020), reimburse the Manager for the actual costs and expenses incurred by the Manager in the manner provided for in Schedule “B” to this Agreement (the “Costs and Expenses”).” 

 

	 	2.	The first paragraph of Section 6 of Article I shall be amended and restated in its entirety as follows: 


“Section 6: Service Fee/Reimbursement of Costs and Expenses. In consideration for the Manager providing the Services, (i) from
May 29, 2016 until May 28, 2018, Navios Acquisition shall pay the Manager the Fees as set out in Schedule “B” to this Agreement and the Extraordinary Fees and Costs, if applicable, and (ii) during the remaining
(2) years (expiring on May 28, 2020) of this Agreement, Navios Acquisition shall reimburse the Manager for the actual costs and expenses incurred by the Manager in the manner provided for in Schedule “B”. 

 

	 	3.	The first and second paragraphs of Schedule “B” shall be amended and restated in their entirety as follows: 


“In consideration for the provision of the Services listed in Schedule “A” by the Manager to Navios Acquisition, Navios
Acquisition shall, from May 29, 2016 until May 28, 2018, pay the Manager a fixed daily fee of US$7,150 per owned 







 
LR1 product tanker vessel, $6,350 per owned MR2 product tanker vessel and chemical tanker vessel, and $9,500 per VLCC tanker vessel, payable on the last day of each month, as set forth in the
table below. Navios Acquisition’s payment to the Manager for dry-docking expenses shall be at-cost for all vessels. 
 Notwithstanding
anything that may appear to the contrary in this Agreement, if Navios Acquisition decides to layup any of the Vessels, an appropriate reduction of the Fees for the layup period shall be mutually agreed between the parties hereto. Any consequential
costs of activation and/or de-activation of a Vessel from layup shall be for the account of Navios Acquisition. The Manager reserves the right to maintain for the duration of this Agreement an amount of up to forty five (45) days estimated
running expenses as a working capital reserve. Upon termination of this Agreement all moneys remaining within the working capital reserve shall be returned to the Navios Acquisition subject to the terms and conditions of this Agreement. 

During the remaining two (2) years of the of this Agreement (expiring on May 28, 2020), within forty-five (45 days after the end of
each month), the Manager shall submit to Navios Acquisition for payment an invoice for reimbursement of the Costs and Expenses in connection with the provision of the Services listed in Schedule “A” by the Manager to Navios
Acquisition for such month. Costs and Expenses shall be determined in a manner consistent with how the fixed daily fee payable from May 29, 2016 until May 28, 2018 was calculated and each statement will contain such supporting detail as
may be reasonably required to validate such amounts due. Navios Acquisition shall make payment within fifteen (15) days of the date of each invoice. All invoices for Services are payable in U.S. dollars.” 

 

	 	4.	Full Force and Effect. Except as modified by this Amendment, all other terms and conditions in the Agreement shall remain in full force and effect. 


 

	 	5.	Effect. Unless the context otherwise requires, the Agreement and this Amendment shall be read together and shall have effect as if the provisions of the Agreement and this Amendment were contained in one
agreement. After the effective date of this Amendment, all references in the Agreement to “this Agreement,” “hereto,” “hereof,” “hereunder” or words of like import referring to the Agreement shall mean the
Agreement, as amended, as further modified by this Amendment. 

  

	 	6.	Counterparts. This Amendment may be executed in separate counterparts, all of which taken together shall constitute a single instrument. 


[Remainder of page intentionally left blank. Signature page to follow.] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Amendment effective as of the day and
year first above written. 
  

			
	NAVIOS MARITIME ACQUISITION CORPORATION
	
	 /s/ Leonidas Korres

	By:	 	Leonidas Korres
	Title:	 	Chief Financial Officer
	
	NAVIOS TANKERS MANAGEMENT INC.
	
	 /s/ Efstratios Desypris

	By:	 	Efstratios Desypris
	Title:	 	President/Director

 [Signature Page - Amendment to Management Agreement]