Document:

Form of Warrant

 Exhibit 10.80 
  
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE
OFFERED, SOLD, TRANSFERRED, PLEDGED, ASSIGNED, HYPOTHECATED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, REGULATIONS OR AN EXEMPTION FROM REGISTRATION AND OTHERWISE IN ACCORDANCE WITH THE TERMS OF AN
AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL OWNER OF THE SECURITIES, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICE OF THE ISSUER. 
  
 LITHIUM TECHNOLOGY CORPORATION 
  
 WARRANT 
  
 This Warrant is issued in connection with that certain Subscription Agreement (the “Subscription Agreement by and among LITHIUM TECHNOLOGY
CORPORATION, a Delaware corporation (the “Company”), and                             
(the “Investor”). Capitalized terms used herein, but not otherwise defined, shall have the meaning given to them in the Subscription Agreement. 
  
 THIS CERTIFIES THAT, for value received, or its registered assigns is entitled to purchase from the Company at any time or from time to time during
the period specified in Paragraph 2 hereof one-half (1/2) fully paid and nonassessable share of the Company’s Common Stock, $.01 par value per share (the “Common Stock”) for each share of common stock issued upon conversion of the
Notes pursuant to the Subscription Agreement (the “Notes”), at an exercise price per share equal to 135% of the conversion price of the Notes then in effect upon conversion of the Notes from time to time (the “Exercise Price”).

  
 The term “Warrant Shares,” as used herein, refers to
the shares of Common Stock purchasable hereunder. The Warrant Shares and the Exercise Price are subject to adjustment as provided in Paragraph 4 hereof. This Warrant is subject to the following terms, provisions, and conditions: 
  
 1. Manner of Exercise; Issuance of Certificates; Payment for
Shares. Subject to the provisions hereof, this Warrant may be exercised by the holder hereof, in whole or in part, by the surrender of this Warrant, together with a completed exercise agreement in the form attached hereto (the
“Exercise Agreement”), to the Company during normal business hours on any business day at the Company’s principal executive offices (or such other office or agency of the Company as it may designate by notice to the holder hereof),
and upon (i) payment to the Company in cash, by certified or official bank check or by wire transfer for the account of the Company of the Exercise Price for the Warrant Shares specified in the Exercise Agreement or (ii) if the resale of the Warrant
Shares by the holder is not then registered pursuant to an effective 

 
registration statement under the Securities Act of 1933, as amended (the “Securities Act”), delivery to the Company of a written notice of an
election to effect a “Cashless Exercise” (as defined in Section 11(c) below) for the Warrant Shares specified in the Exercise Agreement. The Warrant Shares so purchased shall be deemed to be issued to the holder hereof or such
holder’s designee, as the record owner of such shares, as of the close of business on the date on which this Warrant shall have been surrendered, the completed Exercise Agreement shall have been delivered, and payment shall have been made for
such shares as set forth above. Certificates for the Warrant Shares so purchased, representing the aggregate number of shares specified in the Exercise Agreement, shall be delivered to the holder hereof within a reasonable time after this Warrant
shall have been so exercised. The certificates so delivered shall be in such denominations as may be requested by the holder hereof and shall be registered in the name of such holder or such other name as shall be designated by such holder. If this
Warrant shall have been exercised only in part, then, unless this Warrant has expired, the Company shall, at its expense, at the time of delivery of such certificates, deliver to the holder a new Warrant representing the number of shares with
respect to which this Warrant shall not then have been exercised. 
  
 2. Period of Exercise. This Warrant is exercisable at any time or from time to time on or after the date on which this Warrant is issued and delivered pursuant to the terms of the Subscription Agreement and before 5:00 p.m.,
New York, New York time on June 1, 2009 (the “Exercise Period”) 
  
 3. Certain Agreements of the Company. The Company hereby covenants and agrees as follows: 
  
 (a) Shares to be Fully Paid. All Warrant Shares will, upon issuance in accordance with the terms of this Warrant, be validly issued, fully
paid, and nonassessable and free from all taxes, liens, and charges with respect to the issue thereof. 
  
 (b) Reservation of Shares. During the Exercise Period, the Company shall at all times have authorized, and reserved for the purpose
of issuance upon exercise of this Warrant, a sufficient number of shares of Common Stock to provide for the exercise of this Warrant. 
  
 (c) Listing. The Company shall promptly secure the listing of the shares of Common Stock issuable upon exercise of the Warrant upon each
national securities exchange or automated quotation system, if any, upon which shares of Common Stock are then listed (subject to official notice of issuance upon exercise of this Warrant) and shall maintain, so long as any other shares of Common
Stock shall be so listed, such listing of all shares of Common Stock from time to time issuable upon the exercise of this Warrant. 
  
 (d) Successors and Assigns. This Warrant will be binding upon any entity succeeding to the Company by merger, consolidation, or acquisition
of all or substantially all the Company’s assets. 
  

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 4. Adjustment and Antidilution Provisions. On or after the date of issuance of this
Warrant, the Warrant Exercise Price and number of shares issuable pursuant to this Warrant shall be subject to adjustment as follows: 
  
 (a) In case the Company shall (i) declare a dividend or make a distribution on its outstanding shares of Common Stock in shares of
Common Stock, (ii) subdivide or reclassify its outstanding shares of Common Stock into a greater number of shares, or (iii) combine or reclassify its outstanding shares of Common Stock into a smaller number of shares, the Exercise Price in effect at
the time of the record date for such dividend or distribution or of the effective date of such subdivision, combination or reclassification shall be adjusted so that it shall equal the price determined by multiplying the Exercise Price by a
fraction, the denominator of which shall be the number of shares of Common Stock outstanding after giving effect to such action, and the numerator of which shall be the number of shares of Common Stock immediately prior to such action. Such
adjustment shall be made each time any event listed above shall occur. 
  
 (b) Whenever the Exercise Price payable upon exercise of each Warrant is adjusted pursuant to Subsection (a) above, the number of shares purchasable upon exercise of this Warrant shall simultaneously be
adjusted by multiplying the number of shares initially issuable upon exercise of this Warrant by the Exercise Price in effect on the date hereof and dividing the product so obtained by the Exercise Price, as adjusted. 
  
 (c) All calculations under this Section 4 shall be
made to the nearest cent or to the nearest one-hundredth of a share, as the case may be. Anything in this Section 4 to the contrary notwithstanding, the Company shall be entitled, but shall not be required, to make such changes in the Exercise Price
in addition to those required by this Section 4, as it shall determine, in its sole discretion, to be advisable in order that any dividend or distribution in shares of Common Stock, or any subdivision, reclassification or combination of Common
Stock, hereafter made by the Corporation shall not result in any Federal Income tax liability to the holders of the Common Stock or securities convertible into Common Stock (including warrant). 
  
 (d) Whenever the Exercise Price is adjusted, as
herein provided, the Corporation shall promptly cause a notice setting forth the adjusted Exercise Price and adjusted number of shares issuable upon exercise of each Warrant to be mailed to the Holder, at its last address appearing in the
Company’s Warrant Register. The Company may retain a firm of independent certified public accountants selected by the Board of Directors (who may be the regular accountants employed by the Company) to make any computation required by this
Section 4, and a certificate signed by such firm shall be conclusive evidence of the correctness of such adjustment. 
  
 5. Issue Tax. The issuance of certificates for Warrant Shares upon the exercise of this Warrant shall be made without charge to the
holder of this Warrant or such shares for any issuance tax or other costs in respect thereof, provided that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of any
certificate in a name other than the holder of this Warrant. 
  

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 6. No Rights or Liabilities as a Shareholder. This Warrant shall not entitle the holder
hereof to any voting rights or other rights as a shareholder of the Company. No provision of this Warrant, in the absence of affirmative action by the holder hereof to purchase Warrant Shares, and no mere enumeration herein of the rights or
privileges of the holder hereof, shall give rise to any liability of such holder for the Exercise Price or as a shareholder of the Company, whether such liability is asserted by the Company or by creditors of the Company. 
  
 7. Transfer, Exchange, and Replacement of Warrant. 

 
 (a) Restriction on Transfer. This
Warrant and the rights granted to the holder hereof are transferable, in whole or in part, upon surrender of this Warrant, together with a properly executed assignment in the form attached hereto, at the office or agency of the Company referred to
in Paragraph 7(e) below, provided, however, that any transfer or assignment shall be subject to the conditions set forth in Paragraph 7(f) hereof. Until due presentment for registration of transfer on the books of the Company, the Company may treat
the registered holder hereof as the owner and holder hereof for all purposes, and the Company shall not be affected by any notice to the contrary. 
  
 (b) Warrant Exchangeable for Different Denominations. This Warrant is exchangeable, upon the surrender hereof by the
holder hereof at the office or agency of the Company referred to in Paragraph 7(e) below, for new Warrant of like tenor representing in the aggregate the right to purchase the number of shares of Common Stock which may be purchased hereunder, each
of such new Warrant to represent the right to purchase such number of shares as shall be designated by the holder hereof at the time of such surrender. 
  
 (c) Replacement of Warrant. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction,
or mutilation of this Warrant and, in the case of any such loss, theft, or destruction, upon delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company, or, in the case of any such mutilation, upon surrender and
cancellation of this Warrant, the Company, at its expense, will execute and deliver, in lieu thereof, a new Warrant of like tenor. 
  
 (d) Cancellation; Payment of Expenses. Upon the surrender of this Warrant in connection with any transfer, exchange, or
replacement as provided in this Paragraph 7, this Warrant shall be promptly canceled by the Company. The Company shall pay all taxes (other than securities transfer taxes) and all other expenses (other than legal expenses, if any, incurred by the
holder or transferees) and charges payable in connection with the preparation, execution, and delivery of Warrant pursuant to this Paragraph 7. 
  
 (e) Register. The Company shall maintain, at its principal executive offices (or such other office or agency of the Company
as it may designate by notice to the holder hereof), a register for this Warrant, in which the Company shall record the name and address of the person in whose name this Warrant has been issued, as well as the name and address of each transferee and
each prior owner of this Warrant. 
  

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 (f) Exercise or Transfer Without Registration. If, at the time of the
surrender of this Warrant in connection with any exercise, transfer, or exchange of this Warrant, this Warrant (or, in the case of any exercise, the Warrant Shares issuable hereunder), shall not be registered under the Securities Act of 1933, as
amended (the “Securities Act”) and under applicable state securities or blue sky laws, the Company may require, as a condition of allowing such exercise, transfer, or exchange, (i) that the holder or transferee of this Warrant, as the case
may be, furnish to the Company a written opinion of counsel, which opinion and counsel are acceptable to the Company, to the effect that such exercise, transfer, or exchange may be made without registration under said Act and under applicable state
securities or blue sky laws, (ii) that the holder or transferee execute and deliver to the Company an investment letter in form and substance acceptable to the Company and (iii) that the transferee be an “accredited investor” as defined in
Rule 501(a) promulgated under the Securities Act; provided that no such opinion, letter or status as an “accredited investor” shall be required in connection with a transfer pursuant to Rule 144 under the Securities Act. The first holder
of this Warrant, by taking and holding the same, represents to the Company that such holder is acquiring this Warrant for investment and not with a view to the distribution thereof. 
  
 8. Registration Rights. The initial holder of this Warrant (and certain assignees thereof) shall have
registration rights as set forth in Section 5 of the Subscription Agreement. 
  
 9. Notices. All notices, requests, and other communications required or permitted to be given or delivered hereunder to the holder of this Warrant shall be in writing, and shall be personally delivered,
or shall be sent by certified or registered mail or by recognized overnight mail courier, postage prepaid and addressed, to such holder at the address shown for such holder on the books of the Company, or at such other address as shall have been
furnished to the Company by notice from such holder. All notices, requests, and other communications required or permitted to be given or delivered hereunder to the Company shall be in writing, and shall be personally delivered, or shall be sent by
certified or registered mail or by recognized overnight mail courier, postage prepaid and addressed, to the office of the Company at 5115 Campus Drive, Plymouth Meeting, Pennsylvania 19462, Attention: Chief Financial Officer, or at such other
address as shall have been furnished to the holder of this Warrant by notice from the Company. Any such notice, request, or other communication may be sent by facsimile, but shall in such case be subsequently confirmed by a writing personally
delivered or sent by certified or registered mail or by recognized overnight mail courier as provided above. All notices, requests, and other communications shall be deemed to have been given either at the time of the receipt thereof by the person
entitled to receive such notice at the address of such person for purposes of this Paragraph 9, or, if mailed by registered or certified mail or with a recognized overnight mail courier upon deposit with the United States Post Office or such
overnight mail courier, if postage is prepaid and the mailing is properly addressed, as the case may be. 
  
 10. Governing Law. THIS WARRANT SHALL BE ENFORCED, GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICT OF LAWS. THE PARTIES HERETO HEREBY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE UNITED STATES FEDERAL COURTS LOCATED IN NEW
YORK, NEW YORK 

  

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WITH RESPECT TO ANY DISPUTE ARISING UNDER THIS WARRANT, THE AGREEMENTS ENTERED INTO IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR
THEREBY. BOTH PARTIES IRREVOCABLY WAIVE THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH SUIT OR PROCEEDING. BOTH PARTIES FURTHER AGREE THAT SERVICE OF PROCESS UPON A PARTY MAILED BY FIRST CLASS MAIL SHALL BE DEEMED IN EVERY RESPECT
EFFECTIVE SERVICE OF PROCESS UPON THE PARTY IN ANY SUCH SUIT OR PROCEEDING. NOTHING HEREIN SHALL AFFECT EITHER PARTY’S RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. BOTH PARTIES AGREE THAT A FINAL NON-APPEALABLE JUDGMENT IN ANY
SUCH SUIT OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON SUCH JUDGMENT OR IN ANY OTHER LAWFUL MANNER. THE PARTY WHICH DOES NOT PREVAIL IN ANY DISPUTE ARISING UNDER THIS WARRANT SHALL BE RESPONSIBLE FOR ALL
FEES AND EXPENSES, INCLUDING ATTORNEYS’ FEES, INCURRED BY THE PREVAILING PARTY IN CONNECTION WITH SUCH DISPUTE. 
  
 11. Miscellaneous. 
  
 (a) Amendments. This Warrant and any provision hereof may only be amended by an instrument in writing signed by the Company
and the holder hereof. 
  
 (b) Descriptive
Headings. The descriptive headings of the several paragraphs of this Warrant are inserted for purposes of reference only, and shall not affect the meaning or construction of any of the provisions hereof. 
  
 (c) Cashless Exercise. Notwithstanding
anything to the contrary contained in this Warrant, if the resale of the Warrant Shares by the holder is not then registered pursuant to an effective registration statement under the Securities Act, this Warrant may be exercised by presentation and
surrender of this Warrant to the Company at its principal executive offices with a written notice of the holder’s intention to effect a cashless exercise, including a calculation of the number of shares of Common Stock to be issued upon such
exercise in accordance with the terms hereof (a “Cashless Exercise”). In the event of a Cashless Exercise, in lieu of paying the Exercise Price in cash, the holder shall surrender this Warrant for that number of shares of Common Stock
determined by multiplying the number of Warrant Shares to which it would otherwise be entitled by a fraction, the numerator of which shall be the difference between the then current Market Price per share of the Common Stock and the Exercise Price,
and the denominator of which shall be the then current Market Price per share of Common Stock. For example, if the holder is exercising 100,000 warrant with a per warrant exercise price of $0.75 per share through a cashless exercise when the Common
Stock’s current Market Price per share is $2.00 per share, then upon such Cashless Exercise the holder will receive 62,500 shares of Common Stock. 
  
 (d) Remedies. The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the
holder, by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Company 

  

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acknowledges that the remedy at law for a breach of its obligations under this Warrant will be inadequate and agrees, in the event of a breach or threatened
breach by the Company of the provisions of this Warrant, that the holder shall be entitled, in addition to all other available remedies at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions
restraining, preventing or curing any breach of this Warrant and to enforce specifically the terms and provisions thereof, without the necessity of showing economic loss and without any bond or other security being required. 
  
 IN WITNESS WHEREOF, the Company has caused this Warrant to be signed
by its duly authorized officer. 
  

			
	LITHIUM TECHNOLOGY CORPORATION
		
	By:	 	  

	 	 	John J. McGovern
	 	 	Chief Financial Officer

  
 Dated as of
                    , 2005 
  

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 FORM OF EXERCISE AGREEMENT 
  
 Dated:
                    , 200   
  
 To:                      
  
 The undersigned, pursuant to the provisions set forth in the within Warrant,
hereby agrees to purchase              shares of Common Stock covered by such Warrant, and makes payment herewith in full therefor at the price per share provided by such Warrant in
cash or by certified or official bank check in the amount of $            , or, if the resale of such Common Stock by the undersigned is not currently registered pursuant to an
effective registration statement under the Securities Act of 1933, as amended, by surrender of securities issued by the Company (including a portion of the Warrant) having a market value (in the case of a portion of this Warrant, determined in
accordance with Section 11(c) of the Warrant) equal to $            . Please issue a certificate or certificates for such shares of Common Stock in the name of and pay any cash for
any fractional share to: 
  

					
	Name:	 	  

	Signature:	 	  

	Address:	 	  

	 	 	  

			
	 	 	Note:	 	 The above signature should correspond exactly with the name on the face of the within Warrant, if applicable.

  
 and, if said number of shares of
Common Stock shall not be all the shares purchasable under the within Warrant, a new Warrant is to be issued in the name of said undersigned covering the balance of the shares purchasable thereunder less any fraction of a share paid in cash.

  

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 FORM OF ASSIGNMENT 
  
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and transfers all the rights of the undersigned under the
within Warrant, with respect to the number of shares of Common Stock covered thereby set forth hereinbelow, to: 
  

					
	 Name of Assignee

	 	 Address

	 	 No. of Shares

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

  
 , and hereby irrevocably constitutes
and appoints                              as agent and attorney-in-fact to transfer said Warrant on
the books of the within-named corporation, with full power of substitution in the premises. 
  
 Dated:                     , 200   
  

							
	In the presence of:	 	 	 	  

	 	 	Name:	 	  

	 	 	Signature:	 	  

	 	 	Title of Signing Officer or Agent (if any):
	 	 	 	 	 	 	  

	 	 	Address:	 	 	 	  

	 	 	 	 	 	 	  

				
	 	 	 	 	Note:	 	The above signature should correspond exactly with the name on the face of the within Warrant, if applicable.

  

 9Third Amendment to Credit Agreement

 Exhibit 10.1 
  
 THIRD AMENDMENT TO CREDIT AGREEMENT 
  
 This Third Amendment to Credit Agreement (this “Amendment”), dated as of May
    , 2005, is entered into between WORLD FUEL SERVICES CORPORATION, a Florida corporation (the “Company”), the LENDERS (as hereinafter defined) and LASALLE BANK NATIONAL ASSOCIATION,
a national banking association, as a Lender and as the Administrative Agent for Lenders (the “Administrative Agent”), and amends the Credit Agreement, dated as of December 19, 2003, between the Company, the Administrative Agent and
the Lenders from time to time party thereto (the “Lenders”), as amended by the First Amendment to Credit Agreement, dated as of March 31, 2004, between the Company, Administrative Agent and the Lenders and as further amended by the
Second Amendment to Credit Agreement, dated as of September 29, 2004, between the Company, Administrative Agent and the Lenders (as heretofore or hereinafter modified, supplemented, restated or otherwise amended, hereinafter referred to as the
“Agreement”). 
  
 WITNESSETH:

  
 WHEREAS, the Company has informed the
Administrative Agent that it is in default under Section 11.13.2 of the Agreement as it has failed to comply with the maximum permitted Leverage Ratio as of April 30, 2005 (the “Existing Default”); 
  
 WHEREAS, the Company has requested that the Administrative Agent and
the other Lenders (i) waive the Existing Default and (ii) amend the Agreement to delete the Leverage Ratio requirements; and 
  
 WHEREAS, the Administrative Agent and Lenders are willing to so waive the Existing Default amend such provision of the Agreement in accordance with
the terms and conditions hereof. 
  
 NOW, THEREFORE, in
consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  
 1. Incorporation of Defined Terms. Each capitalized term used in this Amendment but not otherwise defined herein
shall have the meaning ascribed thereto in the Agreement. 
  
 2.
Amendment. Section 11.13.2 of the Agreement shall be deleted in its entirety and replaced with “intentionally omitted”. 
  
 3. Modifications. All references in the Agreement and the other Loan Documents to the term “Loan Documents” shall be deemed to include
this Amendment. 
  
 4. Waiver of Existing Defaults. Upon
execution hereof and satisfaction of each of the conditions included in Section 8, Administrative Agent and Lenders hereby waive the Existing Default. This waiver is a waiver of the specific event of non-compliance enumerated herein only and
is not, nor should it be construed to be, a waiver of any other event of non-compliance or existing or future Event of Default, whether or not similar to that enumerated herein. 

 5. Ratification. Except as modified hereby, the terms and conditions of the Agreement and the
other Loan Documents including, without limitation, the Pledge Agreements to which the Company is a party, shall remain in full force and effect and are hereby ratified and confirmed in all respects. 
  
 6. Representations and Warranties. The Company represents and warrants
to, and agrees with, Administrative Agent and the Lenders that (i) it has no defenses, set-offs or counterclaims of any kind or nature whatsoever against the Administrative Agent or any Lender with respect to any Obligations created under the
Agreement and the other Loan Documents, any of the other agreements among the parties hereto, or any action previously taken or not taken by the Administrative Agent or any Lender with respect thereto or with respect to any Lien or Collateral in
connection therewith to secure such Obligations, and (ii) this Amendment has been duly authorized by all necessary action on the part of the Company, has been duly executed by Company, and constitutes the valid and binding obligation of the Company,
enforceable against the Company in accordance with the terms hereof. 
  
 7. Agreement Representations and Warranties. The Company hereby certifies that the representations and warranties contained in the Agreement continue to be true and correct and that no Unmatured Event of Default or Event of Default
has occurred that has not been cured or waived. 
  
 8.
Conditions to Effectiveness of Amendment. This Amendment shall become effective when the Administrative Agent shall have received: 
  
 (A) counterparts of this Amendment duly executed by the Company and each Lender, 
  
 (B) counterparts of the Reaffirmation and Consents attached hereto executed by each Pledgor and Guarantor, as applicable,
and 
  
 (C) resolutions of the applicable governing body of the
Company, officer’s certificates, incumbency certificates and organizational documents. 
  
 9. Covenants. Borrower hereby agrees (i) to pay all costs and expenses incurred by the Administrative Agent in connection herewith, including all Attorney Costs of the Administrative Agent, and (ii) to furnish
to Administrative Agent such other documents as the Administrative Agent may request. 
  
 10. Counterparts. This Amendment may be executed in any number of counterparts which, when taken together, shall constitute one original. Any telecopied signature hereto shall be deemed a manually executed and
delivered original. 
  
 11. Governing Law. This Amendment
shall be governed by, and construed and interpreted in accordance with, the laws of the State of Florida. 
  

 2 

 12. Titles. The section titles contained in this Amendment are and shall be without substantive
meaning or content of any kind whatsoever and are used for convenience of reference only. 
  
 13. WAIVER OF TRIAL BY JURY. EACH OF THE COMPANY, THE ADMINISTRATIVE AGENT AND EACH LENDER HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER
THIS AMENDMENT, ANY OTHER LOAN DOCUMENT AND ANY AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN CONNECTION HEREWITH OR THEREWITH OR ARISING FROM ANY BANKING RELATIONSHIP EXISTING IN CONNECTION WITH
ANY OF THE FOREGOING, AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the date first above written. 
  

			
	WORLD FUEL SERVICES CORPORATION, a Florida corporation
		
	By:	 	 /s/ Ricardo Lowe

	 	 	Ricardo Lowe, Treasurer

  

 3 

			
	LASALLE BANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ Jose Mazariegos

	 	 	Jose Mazariegos, First Vice President

  

 4 

			
	COMMERCE BANK, N.A.
		
	By:	 	  

	 	 	                     ,
                    

  

 5 

			
	HSBC BANK USA
		
	By:	 	 /s/ Joan K. Johnson

	 	 	Joan K. Johnson, V.P.

  

 6 

			
	ISRAEL DISCOUNT BANK OF NEW YORK
		
	By:	 	 /s/ Roberto Munoz

	 	 	Roberto Munoz,
	 	 	Senior Vice President & Chief Lending Officer for Florida
		
	 	 	and
		
	By:	 	 /s/ Yoram Graff

	 	 	Yoram Graff,
	 	 	Senior Vice President & Deputy Regional Manager for Florida

  

 7 

			
	THE INTERNATIONAL BANK OF MIAMI, N.A.
		
	By:	 	 /s/ Caridad C. Errazquin

	 	 	Caridad C. Errazquin, Vice President

  

 8 

			
	 JPMORGAN CHASE BANK

		
	 By:
	 	  

	 	 	                     ,
                    

  

 9 

			
	 MERRILL LYNCH BUSINESS
 FINANCIAL
SERVICES, INC.

		
	By:	 	  

	 	 	                     ,
                    

  

 10 

			
	UNION PLANTERS BANK, N.A.
		
	By:	 	 /s/ Juan P. Esterripa

	 	 	Juan P. Esterripa, Senior Vice President

  

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