<SEC-DOCUMENT>0001157523-12-001808.txt : 20120413
<SEC-HEADER>0001157523-12-001808.hdr.sgml : 20120413
<ACCEPTANCE-DATETIME>20120413143340
ACCESSION NUMBER:		0001157523-12-001808
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120409
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120413
DATE AS OF CHANGE:		20120413

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WORLD FUEL SERVICES CORP
		CENTRAL INDEX KEY:			0000789460
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-PETROLEUM & PETROLEUM PRODUCTS (NO BULK STATIONS) [5172]
		IRS NUMBER:				592459427
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09533
		FILM NUMBER:		12758364

	BUSINESS ADDRESS:	
		STREET 1:		9800 N.W. 41ST STREET
		STREET 2:		SUITE 400
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33178
		BUSINESS PHONE:		305-428-8001

	MAIL ADDRESS:	
		STREET 1:		9800 N.W. 41ST STREET
		STREET 2:		SUITE 400
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33178

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL RECOVERY CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50230904.htm
<DESCRIPTION>WORLD FUEL SERVICES CORPORATION 8-K
<TEXT>
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  <head>
    <title></title>
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  <body style="font-family: Times New Roman; font-size: 10pt">
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>WASHINGTON,
      D.C. 20549</b></font><br><br>
    </p>
    <hr style="height: 1.0 pt; width: 20%; color: #000000; text-align: center">


    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>FORM 8-K</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>PURSUANT
      TO SECTION 13 OR 15(d) OF</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>THE
      SECURITIES EXCHANGE ACT OF 1934</b></font><br><br>
    </p>
    <hr style="height: 1.0 pt; width: 20%; color: #000000; text-align: center">


    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman">Date of
      Report (Date of earliest event reported): &#160;April 9, 2012</font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>WORLD
      FUEL SERVICES CORPORATION</b></font><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 12pt"></font><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      name of registrant as specified in its charter)</font><br><br>
    </p>
    <div style="text-align:center">
    <table style="font-family: Times New Roman; font-size: 10pt; margin-bottom: 10.0px; width: 100%; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Florida</b>
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 34%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>1-9533</b>
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 33%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>59-2459427</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction of
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            incorporation)
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 34%; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Number)
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (I.R.S. Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>

    </p>
    <div style="text-align:center">
    <table style="font-family: Times New Roman; font-size: 10pt; margin-bottom: 10.0px; width: 100%; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 67%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>9800 N.W. 41<sup>st</sup> Street, Suite 400</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Miami</b>
          </p>
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 33%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>33178</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 67%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Zip
            Code)</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <font style="font-size: 10pt">Registrant&#8217;s telephone number, including
      area code:</font><font style="font-size: 10pt"><b> (305) 428-8000</b></font><br>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font><br><font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font><br><font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font><br><font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font><br>
    </p>
    <div style="margin-right: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: justify">
      <b>Item 5.02.&#160;&#160;&#160;&#160;Departures of Directors or Certain Officers; Election
      of Directors; Appointment of Certain Officers; Compensatory Arrangements
      of Certain Officers.</b>
    </p>
    <p>
      5.02(e)
    </p>
    <p>
      <i>Amendment of Employment Agreement with Michael J. Kasbar</i>
    </p>
    <p style="font-family: Times New Roman; font-size: 10pt; text-align: justify; text-indent: 30.0px">
      Effective as of March 30, 2012, World Fuel Services Corporation (the
      &#8220;Company&#8221;) and Michael J. Kasbar amended the employment agreement
      between the Company and Mr. Kasbar, dated as of March 14, 2008, as
      previously amended, in order to extend the expiration date from December
      31, 2015 to December 31, 2016. The expiration of Mr. Kasbar&#8217;s employment
      agreement is now scheduled to coincide with the end of the performance
      period applicable to a special grant of performance-based restricted
      shares of Company common stock, which the Compensation Committee of the
      Company&#8217;s Board of Directors approved on March 30, 2012.
    </p>
    <p style="font-family: Times New Roman; font-size: 10pt; text-align: justify; text-indent: 30.0px">
      Furthermore, Mr. Kasbar&#8217;s employment agreement was also amended to
      remove the provision stating that his current annual base salary is
      $750,000.&#160;&#160;Going forward, Mr. Kasbar&#8217;s base salary will be determined by
      the Compensation Committee from time to time.&#160;&#160;In connection with
      establishing Mr. Kasbar's 2012 incentive-based compensation program, Mr.
      Kasbar voluntarily agreed that his 2012 annual base salary would be
      reduced to $575,000 from $750,000.
    </p>
    <p style="white-space: nowrap; text-align: justify">
      <b>Item 9.01.&#160;&#160;&#160;&#160;Financial Statements and Exhibits</b>
    </p>
    <p style="white-space: nowrap; text-align: justify">
      (d)&#160;&#160;&#160;&#160;&#160;&#160;Exhibits
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 4%; text-align: left" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; width: 10%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Exhibit No.</u>
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 86%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Description</u>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 4%; text-align: left" valign="top">

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 10%; text-align: left" valign="top">
          10.1
        </td>
        <td style="padding-left: 0.0px; width: 86%; text-align: left" valign="top">
          Amendment No. 2, dated April 9, 2012, to Agreement between World
          Fuel Services Corporation and Michael J. Kasbar.
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 10pt; text-align: center">
          2
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: justify">

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font><br>
    </p>
    <p style="text-align: left; text-indent: 30.0px">
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned, thereunto duly authorized.</font><br><br><br>
    </p>
    <div style="text-align:center">
    <table style="font-family: Times New Roman; font-size: 10pt; margin-bottom: 10.0px; width: 100%; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 5%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date:
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 45%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            April 13, 2012
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 30%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>World Fuel Services Corporation</b>
          </p>
        </td>
        <td style="width: 20%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 30%">

        </td>
        <td style="padding-left: 0.0px; width: 20%; text-align: left" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 30%">

        </td>
        <td style="padding-left: 0.0px; width: 20%; text-align: left" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom: solid black 1.0pt" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ R. Alexander Lake
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 5%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 45%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 30%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            R. Alexander Lake
          </p>
        </td>
        <td style="width: 20%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Senior Vice President, General Counsel and<br>Corporate Secretary
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      3
    </p>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>a50230904ex10_1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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    <title></title>
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    <p style="text-align: right">
      Exhibit 10.1
    </p>
    <p style="text-align: center">
      <br>
      [Letterhead of World Fuel Services]<br><br><br>
    </p>
    <p>
      April 9, 2012
    </p>
    <p>
      Re:&#160;&#160;Amendment No. 2 to Employment Agreement<br><br><br>Dear
      Mr. Kasbar,
    </p>
    <p style="text-indent: 60.0px">
      This letter amends the terms of the Agreement by and between you and
      World Fuel Services Corporation (the &#8220;Company&#8221;), dated March&#160;14,&#160;2008,
      as it may be amended from time to time (the &#8220;Employment
      Agreement&#8221;).&#160;&#160;All capitalized terms used in this amendment but not
      otherwise defined herein will have the same meaning as defined in the
      Employment Agreement.
    </p>
    <p style="text-indent: 60.0px">
      You and the Company desire to amend the Employment Agreement to extend
      the current expiration date of the Employment Agreement from December
      31, 2015 to December 31, 2016 and to make certain changes to your base
      salary.&#160;&#160;Accordingly, in accordance with Section 14(a) of the Employment
      Agreement, the parties hereby agree to amend the terms of the Employment
      Agreement as set forth in this amendment.&#160;&#160;This amendment will become
      effective immediately upon execution by both parties.&#160;&#160;
    </p>
    <p style="text-indent: 60.0px">
      Notwithstanding anything to the contrary set forth in the Employment
      Agreement or any other agreement that relates to your employment:
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 10%; text-align: left" valign="top">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 7%; text-align: left" valign="top">
          1.
        </td>
        <td style="padding-left: 0.0px; width: 83%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Employment.</u> You hereby agree that the first sentence of
            Section 1 of the Employment Agreement is hereby deleted in its
            entirety and replaced with the following:
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-indent: 120.0px">
      &#8220;1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Employment</u>.&#160;&#160;Effective
      as of March 30, 2012 (the &#8220;Amendment Effective Date&#8221;), the Company
      hereby employs Executive pursuant to the terms and conditions of this
      Agreement for a term (the &#8220;Amendment Initial Term&#8221;), commencing on March
      30, 2012 and ending on December 31, 2016, unless sooner terminated in
      accordance with Section 4 hereof.&#8221;
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 10%; text-align: left" valign="top">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 7%; text-align: left" valign="top">
          2.
        </td>
        <td style="padding-left: 0.0px; width: 83%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Base Salary.</u> You hereby agree that the following sentence
            from Section 2.1 of the Employment Agreement is hereby deleted in
            its entirety:
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-indent: 120.0px">
      &#8220;The Compensation Committee has determined that, as of the Amendment
      Effective Date, the Company shall pay you an annual base salary equal to
      Seven Hundred Fifty Thousand Dollars ($750,000).&#8221;
    </p>
    <div style="margin-right: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="margin-left: 90.0px">

    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 10%; text-align: left" valign="top">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 7%; text-align: left" valign="top">
          3.
        </td>
        <td style="padding-left: 0.0px; width: 83%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Good Reason Waiver.</u> You hereby acknowledge and agree that
            the reduction in your 2012 Base Salary from $750,000 to $575,000
            shall not serve as a basis for you to terminate your employment
            for Good Reason.
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 10%; text-align: left" valign="top">

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 7%; text-align: left" valign="top">
          4.
        </td>
        <td style="padding-left: 0.0px; width: 83%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Full Force and Effect.</u> Except as specifically set forth
            herein, this amendment shall not, by implication or otherwise,
            alter, amend or modify in any way any terms of the Employment
            Agreement, all of which shall continue in full force and effect.
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 10%; text-align: left" valign="top">

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 7%; text-align: left" valign="top">
          5.
        </td>
        <td style="padding-left: 0.0px; width: 83%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Governing Law/Jurisdiction.</u> The validity and effect of this
            amendment shall be governed by and construed and enforced in
            accordance with the laws of the State of Florida, without regard
            to any conflict-of-law rule or principle that would give effect to
            the laws of another jurisdiction. Any dispute, controversy, or
            question of interpretation arising under, out of, in connection
            with, or in relation to the Employment Agreement or any amendments
            thereof, or any breach or default hereunder, shall be submitted
            to, and determined and settled by, litigation in the state or
            federal courts in Miami-Dade County, Florida. Each of the parties
            hereby irrevocably submits to the exclusive jurisdiction of the
            state and federal courts sitting in Miami-Dade County, Florida.
            Each party hereby irrevocably waives, to the fullest extent it may
            effectively do so, the defense of an inconvenient forum to the
            maintenance of any litigation in Miami-Dade County, Florida.
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 10%; text-align: left" valign="top">

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 7%; text-align: left" valign="top">
          6.
        </td>
        <td style="padding-left: 0.0px; width: 83%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Counterparts.</u> This amendment may be executed in any number
            of counterparts, each of which shall be deemed an original, and
            all of which shall constitute one and the same instrument.
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 10%; text-align: left" valign="top">

        </td>
        <td style="white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 7%; text-align: left" valign="top">
          7.
        </td>
        <td style="padding-left: 0.0px; width: 83%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Entire Agreement.</u> This amendment, together with the
            Employment Agreement, contains the entire agreement between you
            and the Company concerning the subject matter hereof and
            supersedes all prior agreements, understandings, discussions,
            negotiations and undertakings, whether written or oral, between
            you and the Company with respect hereto.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>
      <br>

    </p>
<div style="text-align:left">
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      <tr>
        <td style="padding-left: 0.0px; width: 50%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            April 9, 2012
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="3" valign="top">
          <p style="font-family: Times New Roman; font-size: 10pt">
            WORLD FUEL SERVICES CORPORATION
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td colspan="3">

        </td>
        <td style="width: 10%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; width: 50%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 3%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 4%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            by
          </p>
        </td>
        <td style="width: 33%">

        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 15.0px; width: 33%; text-align: left; border-bottom: solid black 1.0pt" valign="top">
          /s/ R. Alexander Lake
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 33%; text-align: left" valign="top">
          Name: R. Alexander Lake
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 33%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Title: Senior Vice President,
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            General Counsel and Corporate
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Secretary
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 10pt; text-align: center">
          2
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      ACCEPTED AND AGREED,
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="width: 8%">
          &#160;
        </td>
        <td style="padding-left: 0.0px; width: 32%; border-bottom: solid black 1.0pt" valign="top">
          /s/ Michael J. Kasbar
        </td>
        <td style="width: 60%">

        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td style="padding-left: 0.0px; width: 32%" valign="top">
          Name: Michael J. Kasbar
        </td>
        <td style="width: 60%">

        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      3
    </p>
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