exv10w1



 





Exhibit 10.1




UTi WORLDWIDE INC.

EXECUTIVE ANNUAL CASH BONUS PLAN




     THIS UTi WORLDWIDE INC. EXECUTIVE ANNUAL CASH BONUS PLAN (the “Plan”) is adopted by UTi
Worldwide Inc., a British Virgin Islands corporation (the “Company”). The terms of the Plan are as
follows, effective April 12, 2007:



     1. Purpose. The Plan is designed to increase shareholder value through effective use of cash
awards. The Plan serves as a vehicle for retaining key members of the Company’s executive team (the
“Executive Team”) and sustaining exceptional performance, and is an important component of the
Company’s overall competitive compensation package. It is expressly understood that one purpose of the Plan and any
potential bonus hereunder is to provide incentives for, and reward continued employment by, the
participants through and until such date as the bonus is paid. Consequently, and subject to any
conflicting terms in any executive’s employment agreement, only participants who remain employed on
a full-time basis through the bonus payment date shall be eligible to receive any bonus hereunder.



     2. Participants. The participants in this Plan shall be those senior executive officers of the
Company who have been designated as participants with respect to each fiscal year of the Company by
the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”), in
its sole and absolute discretion.



     3. Bonus. The Plan shall reward the eligible participants for performance against yearly
performance objectives, as well as against the Company’s performance. The individual performance
objectives may include, without limitation, (a) the development, implementation and leading
long-term strategic initiatives, (b) achievement of enterprise-wide, regional or sub-regional financial targets, (c)
ensuring operational excellence within and across the Company’s core services, (d) providing leadership and
creating an environment that fosters passion, teamwork and agility within the organization, (e)
building and sustaining long-term customer relationships, (f) leading and supporting enterprise
initiatives, (g) leading and supporting key functional areas and (h) such other performance
objectives as ultimately agreed to by the Compensation Committee. The Executive Team members shall
set formal management objectives for each fiscal year, and such objectives shall then be reviewed
and approved by the Compensation Committee. Performance shall be evaluated against the approved
objectives at the end of the fiscal year and the Company’s Chief Executive Officer shall recommend
annual cash bonus award amounts to the Compensation Committee for all Executive Team members
excluding himself. Notwithstanding such recommendations, any and all bonuses payable under the Plan
shall be determined by the Compensation Committee in its sole and absolute discretion.



     4. Payment of Bonus. The amount of any bonus payable hereunder, and the timing of such bonus
payment, shall be as determined by the Compensation Committee in its sole and absolute discretion.
Payment shall be made from the Company’s general assets; no trust fund shall be established for
purposes of funding said payments. The bonus may not be assigned, transferred, mortgaged or
hypothecated prior to actual receipt, and any such attempt will be null and void.



     5. Administration. This Plan shall be administered by the Compensation Committee. The
Compensation Committee shall have the authority to interpret the provisions of this Plan, direct
the calculation and payment of bonuses in accordance with the terms hereof, and make final
decisions with respect to the entitlement of any participant to a bonus. Any decisions by the Compensation Committee are final
and binding upon all parties.



     6. Duration. This Plan shall continue until terminated by the Company’s Board of Directors;
provided, however, that the Board may update, amend, modify or terminate this Plan at any time in
its sole and absolute discretion.