Document:

Exemption Agreement

 Exhibit 4.1 
 EXEMPTION AGREEMENT 
 THIS EXEMPTION AGREEMENT, dated
as of this 9th day of April, 2012 (the “Exemption
Agreement”), by and among Openwave Systems Inc., a Delaware corporation (the “Company”), and Quantum Partners LP (“Quantum Partners”). 

WHEREAS, on January 28, 2012 the Company entered into the Tax Benefit Preservation Agreement, dated January 28, 2012, between
the Company and Computershare Trust Company, N.A., as rights agent (the “Agreement”). 
 WHEREAS, the Board of
Directors of the Company (the “Board”) has agreed to grant an exemption pursuant to Section 29 of the Agreement to Quantum Partners (together with its Affiliates and Associates, “Quantum”) to permit Quantum to
acquire Beneficial Ownership of shares of Common Stock that will result in Quantum Beneficially Owning shares of Common Stock in excess of 4.99% of the Common Stock then outstanding on the condition that Quantum not acquire Beneficial Ownership of
shares of Common Stock that in the aggregate would be in excess of 7.5% of the outstanding shares of Common Stock (the “Exempt Percentage”). 
 WHEREAS, as a condition to granting an exemption pursuant to Section 29 of the Agreement, the Board is requiring Quantum Partners to enter into this Exemption Agreement. 

NOW, THEREFORE, in consideration of the mutual covenants and premises contained herein and for other good and valuable consideration, the
receipt of which is hereby acknowledged, the parties hereto agree as follows: 
  

	Section 1.	Definitions. 

Unless otherwise defined in this Exemption Agreement, capitalized terms used herein shall have the meanings set forth in the Agreement.

  

	Section 2.	Representations and Warranties. 

 2.1. Quantum Partners represents and warrants to the Company as follows: 
 (a)
Quantum Partners is duly formed and validly existing as a Cayman Islands exempted limited partnership and has full limited partnership power and authority to execute and deliver this Exemption Agreement and to perform its obligations hereunder.

 (b) This Exemption Agreement has been duly authorized, executed and delivered by Quantum Partners and constitutes the
legally valid and binding agreement of Quantum Partners, enforceable against Quantum Partners in accordance with the terms hereof, except that such enforceability (i) may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium and other similar laws affecting or relating to creditors’ rights generally, and (ii) is subject to general principles of equity (regardless of whether considered in a proceeding in equity or at law). 

(c) Neither the execution and delivery of this Exemption Agreement by Quantum Partners nor the performance of its obligations hereunder
will conflict with or result in a breach of or constitute a default under any law, rule, regulation, judgment, order or decree of any court, arbitrator or governmental agency or instrumentality, or of any agreement or instrument to which Quantum
Partners is bound or affected or of any organizational documents of Quantum Partners. 

 2.2. The Company represents and warrants to Quantum Partners as follows: 

(a) The Company is a validly existing corporation under the laws of the State of Delaware and has the power and authority to enter into
this Exemption Agreement and perform its obligations hereunder. 
 (b) This Exemption Agreement has been duly authorized,
executed and delivered by the Company and constitutes the legally valid and binding agreement of the Company, enforceable against the Company in accordance with the terms hereof, except that such enforceability (i) may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting or relating to creditors’ rights generally, and (ii) is subject to general principles of equity (regardless of whether considered in a proceeding in equity
or at law). 
 (c) Neither the execution and delivery of this Exemption Agreement nor the performance of its obligations
hereunder will conflict with or result in a breach of or constitute a default under, any law, rule, regulation, judgment, order or decree of any court, arbitrator or governmental agency or instrumentality, or of any agreement or instrument to which
the Company is bound or affected or of any organizational documents of the Company. 
  

	Section 3.	Covenants. 

 3.1.
Acquisition of Common Stock. 
 Quantum shall not directly or indirectly become the Beneficial Owner of or obtain any
rights in respect of any Common Stock, by purchase or otherwise, or take any action in furtherance thereof, if the effect of such acquisition, agreement or other action would be (either immediately or upon consummation of any such acquisition,
agreement or other action, or upon the expiration of any period of time provided in any such acquisition, agreement or other action or after the passage of time or upon the satisfaction of any conditions or both) to increase the aggregate Beneficial
Ownership of Common Stock by Quantum by more than the Exempt Percentage. 
 3.2. Notification of the Company of Certain
Acquisitions on Disposition of Common Stock. 
 To the extent that, after the date of this Exemption Agreement, Quantum
increases or decreases the number of shares of Common Stock which it Beneficially Owns by an amount which is one percent or more of the total outstanding shares of Common Stock, Quantum Partners shall, within three business days of such acquisition
or disposition, provide written notice of such change in Beneficial Ownership to the Company. Such notice shall disclose for the period since the date of this Exemption Agreement until the first notice (and thereafter since the last notice provided
by Quantum Partners pursuant to this Section 3.2) the aggregate amount of shares of Common Stock Beneficially Owned by Quantum as of the close of business on each day during such period in which Quantum executed one or more trades in the Common
Stock. 

  
 -2-

 3.3. Acknowledgement of Provisions of the Agreement. 

In addition to any other remedies available to the Company for breach of this Exemption Agreement, Quantum hereby acknowledges and agrees
that (i) if it acquires Beneficial Ownership of any shares of Common Stock such that its aggregate Beneficial Ownership of Common Stock exceeds the Exempt Percentage it will become an Acquiring Person under the Agreement, (ii) once a
person has become an Acquiring Person, the Board may either (i) exchange the Rights (other than Rights held by the Acquiring Person) distributed under the Agreement for shares of Common Stock or (ii) allow the Rights to become exercisable
for the purchase of shares of Common Stock, and (iii) as a result of either option, Quantum’s ownership stake in the Company would be significantly diluted. In consideration for granting the exemption pursuant to Section 29 of the
Agreement, Quantum hereby waives any and all rights to challenge the validity or the enforceability of any of the provisions of the Agreement or this Exemption Agreement. 
 3.4. Confidentiality. 
 Unless required by applicable law, neither party
shall disclose or make public any nonpublic information provided to it by the other party pursuant to this Exemption Agreement without the prior written consent of such other party. 

3.5. Waiver of Requirements. 
 Notwithstanding anything in this Section 3 to the contrary, any of the terms of Subsections 3.1 through Subsection 3.4 may be waived, in whole or in part and as to particular transactions or matters,
if (a) in the case of a waiver of an obligation of Quantum Partners, the Board shall have approved such waiver in accordance with applicable law, or (b) in the case of a waiver of an obligation of the Company provided for the benefit of
Quantum, Quantum Partners shall have consented in writing to such waiver. 
  

	Section 4.	Term of Agreement; Certain Provisions Regarding Termination. 

 Unless this Exemption Agreement specifically provides for earlier termination with respect to any particular right or obligation, this Exemption Agreement shall terminate, and the exemption (pursuant to
Section 29 of the Agreement) conditioned upon Quantum Partners entering into this Exemption Agreement shall be void and of no further effect, upon the earlier of (a) the termination of the Agreement in accordance with its terms, or
(b) if Quantum shall, at any time after Quantum acquires Beneficial Ownership greater than 4.99% (in compliance with this Exemption Agreement), sell or otherwise dispose of or cease to own any Common Stock so that Quantum Beneficially Owns, in
the aggregate less than 4.99% of all shares of the Common Stock then outstanding. 

  
 -3-

	Section 5.	Remedies. 

 Quantum
Partners and the Company acknowledge and agree that (i) the provisions of this Exemption Agreement are reasonable and necessary to protect the proper and legitimate interests of the parties hereto, and (ii) the parties would be irreparably
damaged in the event any of the provisions of this Exemption Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to preliminary and permanent
injunctive relief to prevent breaches of the provisions of this Exemption Agreement by the other party without the necessity of proving actual damages or of posting any bond, and to enforce specifically the terms and provisions hereof, which rights
shall be cumulative and in addition to any other remedy to which the parties may be entitled hereunder or at law or equity. 
  

	Section 6.	General Provisions. 

 6.1. Choice of Law; Forum Selection. This Exemption Agreement shall be construed, interpreted and the rights of the parties determined in accordance with the laws of the State of Delaware without
reference to the choice of laws provisions thereof. Each of the parties to this Exemption Agreement hereby irrevocably and unconditionally (i) agrees to be subject to, and hereby consents and submits to, the jurisdiction of the Court of
Chancery of the State of Delaware for any litigation arising out of or relating to this Exemption Agreement, (ii) waives any objection to the laying of venue of any such litigation in the Court of Chancery of the State of Delaware, and
(iii) agrees not to plead or claim in the Court of Chancery of the State of Delaware that such litigation brought therein has been brought in an inconvenient forum. The Company hereby appoints RL&F Service Corp., 920 North King Street,
2nd Floor, Wilmington, DE 19801 as its agent for service
of process in the State of Delaware and Quantum Partners hereby appoints The Corporation Trust Company, 1209 Orange Street, Wilmington, DE 19801 as its agent for service of process in the State of Delaware. Each party agrees to service of process in
any litigation arising out of or relating to this Exemption Agreement by service upon its aforementioned agent or by certified mail, return receipt requested, postage prepaid to it at its address for notice as provided in this Exemption Agreement.

 6.2. Notices. All notices, consents, requests, instructions, approvals and other communications provided for herein
and all legal process in regard hereto shall be in writing and shall be decreed to be validly given, made or served when delivered personally, transmitted by telex or telecopier, or deposited in the U.S. mail, postage prepaid, for delivery by
express, registered or certified mail, or delivered to a recognized overnight courier service, addressed as follows: 
 If to
the Company: 
 Openwave Systems, Inc. 
 2100 Seaport Boulevard 
 Redwood City, CA 94063 

Facsimile No.: (650) 480-8100 
 Attention: Anne K. Brennan, Chief Financial Officer 

  
 -4-

 With a copy to: 
 Joseph L. Johnson III 
 Goodwin Procter LLP 

Exchange Place 

Boston, MA 02109 
 Facsimile No.: (617) 523-1231 
 JJohnson@goodwinprocter.com 

If to Quantum Partners: 
 Quantum Partners LP 
 c/o Soros Fund Management LLC 

888 Seventh Avenue 
 New York, NY 10106 
 Facsimile No.: (646) 731-5551 

Attention: Maryann Canfield, General Counsel 
 With a copy to: 
 Patrick J. Dooley 

Akin Gump Strauss Hauer & Feld LLP 
 One Bryant Park 
 New York, NY 10036 

Facsimile No.: (212) 872-1002 
 or to such other address as may be specified in a notice given pursuant to this Subsection. All such notices and communications shall be deemed to have been duly given: (i) at the time delivered by
hand, if personally delivered; (ii) five (5) business days after being deposited in the mail, postage prepaid, if mailed; (iii) when answered back if telexed; (iv) when receipt acknowledged, if telecopied; and (v) the next
business day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. The parties may change the address to which notices are to be given by giving five (5) days’ prior notice of such change in
accordance herewith. 
 6.3. Severability. If any term, provision, covenant or restriction of this Exemption Agreement is
held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions shall remain in full force and effect and shall in no way be affected, impaired or invalidated. The
parties hereto agree that they will use their reasonable best efforts to support and defend this Exemption Agreement. 
 6.4.
Amendments, Waivers. Any provision of this Exemption Agreement may be amended or waived if, and only if, such amendment or waiver is in writing and signed by each party hereto; provided that no such amendment or waiver by the Company
shall be effective without the approval of the Board. No failure or delay by any party hereto in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other
or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law. 

  
 -5-

 6.5. Descriptive Headings. Descriptive headings are for convenience only and shall
not control or affect the meaning or construction of any provision of this Exemption Agreement. Reference in this Exemption Agreement to Sections or Subsections (other than the references to Section 29 of the Agreement) are to Sections of
Subsections of this Exemption Agreement. All pronouns and any variations thereof refer to the masculine, feminine or neuter, singular or plural, as the identity of the applicable person or persons may require. 

6.6. Entire Agreement: Amendment. This Exemption Agreement and the other instruments and agreements referred to herein embody the
entire agreement of the parties hereto with respect to the subject matter hereof and supersede all prior agreements with respect thereto. 
 6.7. Counterparts. This Exemption Agreement shall become binding when one or more counterparts hereof, individually or taken together, bears the signatures of each of the parties hereto. This
Exemption Agreement may be executed in any number of counterparts, each of which shall be an original as against the party whose signature appears thereon, or on whose behalf such counterpart is executed, but all of which taken together shall be one
and the same agreement. 
 6.8. No Partnership. No partnership, joint venture or joint undertaking is intended to be, or
is, formed between the parties hereto or any of them by reason of this Exemption Agreement or the transactions contemplated herein. 
 6.9. Successors and Assigns. This Exemption Agreement shall be binding upon and inure to the benefit of and be enforceable by the successors and assigns of the parties hereto. All of the terms,
covenants and agreements contained in this Exemption Agreement are solely for the benefit of the parties hereto, and their respective successors and assigns, and no other parties (including, without limitation, any other stockholder or creditor of
the Company, or any director, officer or employee of the Company) are intended to be benefited by, or entitled to enforce, this Exemption Agreement. 
 [SIGNATURE PAGE FOLLOWS] 

  
 -6-

 IN WITNESS WHEREOF, the parties hereto intending to be legally bound have duly executed this
Agreement, all as of the day and year first above written. 
  

			
	QUANTUM PARTNERS LP
		
	By:	 	QP GP LLC
		
	By:	 	 /s/ Jay Schoenfarber

	Name:	 	Jay Schoenfarber
	Title:	 	Attorney-in-fact
	
	OPENWAVE SYSTEMS INC.
		
	By:	 	 /s/ Anne K. Brennan

	Name:	 	Anne K. Brennan
	Title:	 	Chief Financial Officer

  
 -7-Ninth Supplemental Agreement

 Exhibit 10.1 
 Date 30 March 2012 
 NAVIOS MARITIME PARTNERS L.P. 

as Borrower 

COMMERZBANK AG and DVB BANK SE 
 as Lenders 
 DVB BANK SE 

as Swap Bank, Joint-Arranger, Agent, 
 and Security Trustee 
 and 

COMMERZBANK AG 
 as Joint-Arranger, Payment Agent, 
 Account Bank and Swap Bank

  
  

NINTH SUPPLEMENTAL AGREEMENT 
  

 
  

in relation to a Facility Agreement dated 15 November 2007, 

as amended by supplemental agreements dated 25 June 2008, 

30 January 2009, 11 January 2010, 30 March 2010, 

1 June 2010, 13 December 2010, 31 May 2011 and 30 September 2011 

INCE & CO 
 PIRAEUS 

 Index 
  

					
	Clause	  	Page No	 
	 1    INTERPRETATION
	  	 	3	  
		
	 2    UNDERTAKINGS
	  	 	3	  
		
	 3    REPRESENTATIONS AND WARRANTIES
	  	 	4	  
		
	 4    AMENDMENTS TO FACILITY AGREEMENT AND OTHER SECURITY DOCUMENTS
	  	 	4	  
		
	 5    FURTHER ASSURANCES
	  	 	5	  
		
	 6    FEES AND EXPENSES
	  	 	6	  
		
	 7    NOTICES
	  	 	6	  
		
	 8    SUPPLEMENTAL
	  	 	6	  
		
	 9    LAW AND JURISDICTION
	  	 	6	  

  
 2 

 THIS AGREEMENT is made on 30 March 2012 
 BETWEEN 
  

	(1)	NAVIOS MARITIME PARTNERS L.P. as Borrower; 

  

	(2)	COMMERZBANK AG and DVB BANK SE as Lenders; 

  

	(3)	DVB BANK SE as Swap Bank, Joint-Arranger, Agent and Security Trustee; and 

 

	(4)	COMMERZBANK AG as Joint-Arranger, Payment Agent, Account Bank and Swap Bank. 

 BACKGROUND 
  

	(A)	By a Facility Agreement dated 15 November 2007 as amended by supplemental agreements dated 25 June 2008, 30 January 2009, 11 January 2010,
30 March 2010, 1 June 2010, 13 December 2010, 31 May 2011 and 30 September 2011 and made between the parties hereto the Lenders have made available to the Borrower a loan of up to USD434,000,000. 

 

	(B)	The Borrower has made a request to the Lenders that they agree to amend certain terms of the Facility Agreement, and this Agreement sets out the terms and conditions on
which the Lenders agree thereto. 

 IT IS AGREED as follows: 

 

	1	INTERPRETATION 

  

	1.1	Defined expressions. Words and expressions defined in the Facility Agreement and the other Security Documents shall have the same meanings when used in this
Agreement unless the context otherwise requires. 

  

	1.2	Definitions. In this Agreement, unless the contrary intention appears: 

 

	    	“Facility Agreement” means the Facility Agreement referred to in Recital (A). 

 

	1.3	Application of construction and Interpretation provisions of Facility Agreement. Clauses 1.3 to 1.6 (inclusive) of the Facility Agreement apply, with any
necessary modifications, to this Agreement. 

  

	2	AGREEMENT OF THE LENDERS 

  

	2.1	Lenders’ consent. The Lenders hereby agree to the amendments to the Facility Agreement set out in Clause 5 on condition that: 

 

	2.1.1	the Agent, or its authorised representative, has received the documents and evidence specified in Clause 3.1 in form and substance satisfactory to the Agent; and

  

	2.1.2	the representations and warranties contained in clause 4 are then true and correct as if each was made with respect to the facts and circumstances existing at such
time. 

  

	3	CONDITIONS PRECEDENT 

  

	3.1	Conditions precedent. The conditions referred to in Clause 2.1.1 are that the Agent shall have received the following documents: 

 

	(a)	Corporate documents 

  
 3 

 Certified Copies of all documents which evidence or relate to the constitution of the
Borrower and its current corporate existence; 
  

	(b)	Corporate authorities 

  

	 	(i)	Certified Copies of resolutions of the directors of the Borrower approving this Supplemental Agreement and authorising the execution and delivery thereof and
performance of the Borrower’s obligations thereunder, additionally certified by an officer of the Borrower as having been duly passed at a duly convened meeting of the directors of the Borrower and not having been amended, modified or revoked
and being in full force and effect; and 

  

	 	(ii)	originals or Certified Copies of any powers of attorney issued by the Borrower pursuant to such resolutions 

 

	(c)	Certificate of incumbency 

 a
list of directors and officers of the Borrower, specifying the names and positions of such persons, certified by an officer of the Borrower to be true, complete and up to date; 

 

	(d)	London agent 

 documentary
evidence that the agent for service of process named in clause 19 of the Facility Agreement has accepted its appointment in respect of this Agreement; 
  

	(e)	Acknowledgment 

 an
acknowledgement (in a letter or otherwise) signed by each Security Party (other than the Borrower) in such form as the Agent and the Majority Lenders may require in their sole discretion acknowledging the terms of this Agreement; and 

 

	(f)	Further opinions, etc 

 any
further opinions, consents, agreements and documents in connection with this Agreement and the Security Documents which the Agent may request by notice to the Borrower. 

 

	4	REPRESENTATIONS AND WARRANTIES 

  

	4.1	Repetition of Facility Agreement representations and warranties. The Borrower represents and warrants to each Lender that the representations and warranties in Clause 7
of the Facility Agreement, as amended and supplemented by this Agreement and updated with appropriate modifications to refer to this Agreement, remain true and not misleading if repeated on the date of this Agreement with reference to the
circumstances now existing. 

  

	5	AMENDMENTS TO FACILITY AGREEMENT AND OTHER SECURITY DOCUMENTS 

  

	5.1	Specific amendments to Facility Agreement. With effect on and from the Effective Date the Facility Agreement shall be, and shall be deemed by this Agreement to
be, amended as follows: 

  

	 	(a)	 by adding at the end of the first paragraph of clause 4.1.1 the words “PROVIDED THAT, notwithstanding any other provisions of this Agreement, any
prepayment in the amount of USD27,050,000 which shall be made by the Borrower in March 2012 shall be applied (i) as to USD14,600,000 (of which USD2,433.333 are 

  
 4 

	 	
currently standing to the credit of the Retention Account in accordance with clause 14.3 of the Facility Agreement) in reducing the next (after 30 March 2012) two repayment instalments due
in 16 May 2012 and 16 August 2012 respectively by USD7,300,000 each, (ii) as to USD12,300,000 (of which USD5,000,000 are currently standing to the credit of the Retention Account as Cash Deposit) in reducing the instalment due in
16 November 2012 and (iii) as to USD150,000 in reducing the instalment of USD7,300,000 due in 16 February 2013 down to USD7,150,000”; 

  

	 	(b)	by deleting clause 4.7.2 and replacing it with: 

 “4.7.2 Any amounts prepaid pursuant to clause 4.2 shall be applied against the Loan in reducing the repayment instalments in such manner and order as shall be agreed between the parties hereto, and
in the absence of such agreement, in such manner and order as the Lenders shall require.”; 
  

	 	(c)	by construing references throughout to “this Agreement”, “hereunder” and other like expressions as if the same referred to the Facility Agreement as
amended and supplemented by this Agreement. 

  

	(d)	by construing references throughout to “this Agreement”, “hereunder” and other like expressions as if the same referred to the Facility Agreement as
amended and supplemented by this Agreement. 

  

	5.2	Amendments to Security Documents. With effect on and from the date of this Agreement each of the Security Documents other than the Facility Agreement, shall be,
and shall be deemed by this Agreement to be, amended so that the definition of, and references throughout each of the Security Documents to, the Facility Agreement shall be construed as if the same referred to the Facility Agreement as amended and
supplemented by this Agreement. 

  

	5.3	Security Documents to remain in full force and effect. 

 The Security Documents shall remain in full force and effect as amended and supplemented by: 
  

	 	(a)	the amendments to the Security Documents contained or referred to in Clauses 5.1 and 5.2; and 

 

	 	(b)	such further or consequential modifications as may be necessary to give full effect to the terms of this Agreement. 

 

	6	FURTHER ASSURANCES 

  

	6.1	Borrower’s obligation to execute further documents etc. The Borrower shall, and shall procure that any other party to any Security Document shall:

  

	 	(a)	execute and deliver to the Agent (or as it may direct) any assignment, mortgage, power of attorney, proxy or other document, governed by the law of England or such
other country as the Agent may, in any particular case, specify, 

  

	 	(b)	effect any registration or notarisation, give any notice or take any other step, which the Agent may, by notice to the Borrower or other party, reasonably specify for
any of the purposes described in Clause 5.2 or for any similar or related purpose. 

  
 5 

	6.2	Purposes of further assurances. Those purposes are: 

  

	 	(a)	validly and effectively to create any Security Interest or right of any kind which the Lenders intended should be created by or pursuant to the Facility Agreement or
any other Security Document, each as amended and supplemented by this Agreement; and 

  

	 	(b)	implementing the terms and provisions of this Agreement. 

  

	6.3	Terms of further assurances. The Agent may specify the terms of any document to be executed by the Borrower or any other party under Clause 6.1, and those terms
may include any covenants, powers and provisions which the Agent reasonably considers appropriate to protect its interests. 

  

	6.4	Obligation to comply with notice. The Borrower shall comply with a notice under Clause 5.1 by the date specified in the notice. 

 

	6.5	Additional corporate action. At the same time as the Borrower or any other party delivers to the Agent any document executed under Clause 6.1(a), the Borrower or
such other party shall also deliver to the Agent a certificate signed by 2 of the Borrower’s or that other party’s directors which shall: 

  

	 	(a)	set out the text of a resolution of the Borrower’s or that other party’s directors specifically authorising the execution of the document specified by the
Agent, and 

  

	 	(b)	state that either the resolution was duly passed at a meeting of the directors validly convened and held throughout which a quorum of directors entitled to vote on the
resolution was present or that the resolution has been signed by all the directors and is valid under the Borrower’s or that other party’s articles of association or other constitutional documents. 

 

	7	FEES AND EXPENSES 

  

	7.1	Expenses. The provisions of Clause 5 (Fees and Expenses) of the Loan Agreement, as amended and supplemented by this Agreement, shall apply to this Agreement as
if they were expressly incorporated in this Agreement with any necessary modifications. 

  

	8	NOTICES 

  

	8.1	General. The provisions of clause 17 (Notices and other matters) of the Facility Agreement, as amended and supplemented by this Agreement, shall apply to this
Agreement as if they were expressly incorporated in this Agreement with any necessary modifications. 

  

	9	SUPPLEMENTAL 

  

	9.1	Counterparts. This Agreement may be executed in any number of counterparts. 

 

	9.2	Third party rights. A person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce or to enjoy the
benefit of any term of this Agreement. 

  

	10	LAW AND JURISDICTION 

  

	10.1	Governing law. This Agreement and any non-contractual obligations arising out of or in connection with it shall be governed by and construed in accordance with
English law. 

  
 6 

	10.2	Incorporation of the Facility Agreement provisions. The provisions of Clauses 18 and 19 (Governing Law and Jurisdiction) of the Facility Agreement, as amended
and supplemented by this Agreement, shall apply to this Agreement as if they were expressly incorporated in this Agreement with any necessary modifications. 

 IN WITNESS whereof the parties to this Agreement have caused this Agreement to be duly executed on the date first above written. 

 

							
	 SIGNED as a deed by
	  	)	  		  	
	 for and on behalf of
	  	)	  		  	
	 NAVIOS MARITIME PARTNERS L.P.
	  	)	  		  	/s/ Alexandros Laios
	 (as Borrower under and pursuant to
	  	)	  		  	
	 a power of attorney dated
	  	)	  		  	
	 28 March 2012)
	  	)	  		  	
				
	 SIGNED by ROBIN PARRY
	  	)	  		  	
	 for and on behalf of
	  	)	  		  	/s/ Robin Parry
	 COMMERZBANK AG
	  	)	  		  	
	 (as a Lender)
	  	)	  		  	
				
	 SIGNED by ROBIN PARRY
	  	)	  		  	
	 for and on behalf of
	  	)	  		  	/s/ Robin Parry
	 DVB BANK SE
	  	)	  		  	
	 (as a Lender)
	  	)	  		  	
				
	 SIGNED by ROBIN PARRY
	  	)	  		  	
	 for and on behalf of
	  	)	  		  	
	 DVB BANK SE
	  	)	  		  	/s/ Robin Parry
	 (as Joint-Arranger, Agent, Swap
	  	)	  		  	
	 Bank and Security Trustee)
	  	)	  		  	
				
	 SIGNED by ROBIN PARRY
	  	)	  		  	
	 for and on behalf of
	  	)	  		  	
	 COMMERZBANK AG
	  	)	  		  	/s/ Robin Parry
	 (as Joint-Arranger, Account Bank,
	  	)	  		  	
	 Payment Agent and Swap Bank)
	  	)	  		  	
				
	 Witness to all the above
	  	)	  		  	
	 Signatures:
	  	)	  		  	/s/ Anthony Paizes
	 Name: ANTHONY PAIZES
	  		  		  	
	 Address:
	  		  		  	
	 47-49 Akti Miaouli
	  		  		  	
	 Piraeus, Greece
	  		  		  	

  
 7 

 We on this 30th day of March 2012 hereby confirm and acknowledge that we have read and understood the terms and conditions of the
above Supplemental Agreement and agree in all respects to the same and confirm that the Security Documents to which we are respectively a party shall remain in full force and effect and shall continue to stand as security for the obligations of the
Borrower under the Facility Agreement (as amended by the Supplemental Agreement) and shall, without limitation, secure the Loan. 
  

			
	 /s/ Vasiliki Papaefthymiou
	    	/s/ Alexandros Laios
	  
	    	  

		
	 VASILIKI PAPAEFTHYMIOU
	    	
	 For and on behalf of
	    	For and on behalf of
	 NAVIOS MARITIME OPERATING L.L.C.
	    	NAVIOS SHIPMANAGEMENT INC.

  

			
	 /s/ Alexandros Laios
	    	/s/ Alexandros Laios
	  
	    	  

		
	 For and on behalf of
	    	For and on behalf of
	 LIBRA SHIPPING ENTERPRISES
	    	ALEGRIA SHIPPING CORPORATION
	 CORPORATION
	    	

  

			
	 /s/ Alexandros Laios
	    	/s/ Alexandros Laios
	  
	    	  

		
	 For and on behalf of
	    	For and on behalf of
	 FANTASTIKS SHIPPING CORPORATION
	    	FELICITY SHIPPING CORPORATION

  

			
	 /s/ Alexandros Laios
	    	/s/ Alexandros Laios
	  
	    	  

		
	 For and on behalf of
	    	For and on behalf of
	 GALAXY SHIPPING CORPORATION
	    	GEMINI SHIPPING CORPORATION

  

			
	 /s/ Alexandros Laios
	    	/s/ Alexandros Laios
	  
	    	  

		
	 For and on behalf of
	    	For and on behalf of
	 AURORA SHIPPING ENTERPRISES LTD.
	    	HYPERION ENTERPRISES INC.

  

			
	 /s/ Alexandros Laios
	    	/s/ Alexandros Laios
	  
	    	  

		
	 For and on behalf of
	    	For and on behalf of
	 SAGITTARIUS SHIPPING CORPORATION
	    	PALERMO SHIPPING S.A.

  

			
	 /s/ Alexandros Laios
	    	/s/ Alexandros Laios
	  
	    	  

		
	 For and on behalf of
	    	For and on behalf of
	 CHILALI CORP.
	    	SURF MARITIME CO.

  
 8 

			
	 /s/ Alexandros Laios
	    	/s/ Alexandros Laios
	  
	    	  

		
	 For and on behalf of
	    	For and on behalf of
	 ALDEBARAN SHIPPING CORPORATION
	    	PROSPERITY SHIPPING CORPORATION

  

			
	 /s/ Alexandros Laios
	    	/s/ Alexandros Laios
	  
	    	  

		
	 For and on behalf of
	    	For and on behalf of
	 CUSTOMIZED DEVELOPMENT S.A.
	    	PANDORA MARINE INC.

  

			
	 /s/ Alexandros Laios
	    	/s/ Alexandros Laios
	  
	    	  

		
	 For and on behalf of
	    	For and on behalf of
	 KOHYLIA SHIPMANAGEMENT S.A.
	    	ORBITER SHIPPING CORP.

  
 9

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