Document:

EX-10.1

 Exhibit 10.1 
 Execution Version 
 FIRST AMENDMENT 

TO AMENDED AND RESTATED LETTER OF CREDIT AND CASH DRAW AGREEMENT 

THIS FIRST AMENDMENT TO AMENDED AND RESTATED LETTER OF CREDIT AND CASH DRAW AGREEMENT (this “Amendment”) is dated
as of June 5, 2013 and is entered into by and among UTi Worldwide Inc., a BVI Business Company incorporated under the laws of the British Virgin Islands with company number 141257 (the “Company”), each of the Subsidiary
Guarantors (as defined in the Amended and Restated Letter of Credit Agreement), Nedbank Limited, acting through its London Branch, in its capacity as the Lender and Issuing Bank (the “Issuing Bank”) and is made with reference to
that certain Amended and Restated Letter of Credit and Cash Draw Agreement, dated as of June 24, 2011 (as amended, supplemented or otherwise modified through the date hereof, the “Letter of Credit Agreement”) by and among the
Company, the Subsidiary Guarantors and the Issuing Bank. Capitalized terms used herein without definition shall have the same meanings herein as set forth in the Letter of Credit Agreement after giving effect to this Amendment. 

RECITALS 

WHEREAS, the Obligors have requested that the Issuing Bank agree to amend certain provisions of the Letter of Credit Agreement as
provided for herein; and 
 WHEREAS, subject to certain conditions, the Issuing Bank is willing to agree to such
amendment relating to the Letter of Credit Agreement. 
 NOW, THEREFORE, in consideration of the premises and the
agreements, provisions and covenants herein contained, the parties hereto agree as follows: 
  

	SECTION I.	AMENDMENT TO LETTER OF CREDIT AGREEMENT 

 Effective as of April 30, 2013, The definition of “Debt Service Ratio” set forth in Exhibit B to the Letter of Credit Agreement is hereby amended and restated by substituting the following
therefor: 
 “Debt Service Ratio” means, for any Measurement Period the ratio of (a) Consolidated EBITDA
less distributions, dividends and redemptions on account of or with respect to capital stock or other equity interests of the Company or any Subsidiary (other than those (i) required to be paid under agreements entered into with Persons in
order to obtain or maintain BBBEE status and (ii) received by the Company or a Subsidiary during such Measurement Period) to (b) Consolidated Fixed Charges. Notwithstanding the foregoing, for the purposes of the definition of “Debt
Service Ratio” only, there shall be excluded from the calculation thereof to the extent otherwise included therein, (i) up to U.S. $2,100,000 paid by the Company in January, 2013 to satisfy the requirement to pay a make-whole amount in
connection with the prepayment of the 2009 Notes and (ii) solely for the fiscal quarters ended April 30, 2013 and July 31, 2013, up to U.S. $5,000,000 in interest and up to U.S. $1,500,000 in scheduled principal payments under a
Capital Lease related to that certain warehouse facility in South Africa constructed for the Company to support the Company’s pharmaceutical business in the region. 

 

	SECTION II.	CONDITIONS TO EFFECTIVENESS 

 This Amendment shall become effective as of the date hereof only upon the satisfaction of all of the following conditions precedent (the date of satisfaction of such conditions being referred to herein as
the “First Amendment Effective Date”): 
 A. Execution. The Issuing Bank shall have received a
counterpart signature page of this Amendment duly executed by each of the Obligors. 

 B. Fees. The Issuing Bank shall have received all fees and other amounts due and
payable under the Letter of Credit Agreement on or prior to the First Amendment Effective Date, including, to the extent invoiced, reimbursement or other payment of all out-of-pocket expenses required to be reimbursed or paid by the Company
hereunder or under any other Financing Agreement. 
 C. Other Documents. The Issuing Bank shall have received such other
documents, information or agreements regarding Obligors as the Issuing Bank may reasonably request. 
  

	SECTION III.	REPRESENTATIONS AND WARRANTIES 

 In order to induce the Issuing Bank to enter into this Amendment and to amend the Letter of Credit Agreement in the manner provided herein, each Obligor which is a party hereto represents and warrants to
the Issuing Bank that the following statements are true and correct in all material respects: 
 A. Organization; Power and
Authority. Each Obligor is a corporation or other legal entity duly incorporated or organized, validly existing and, where legally applicable, in good standing under the laws of its jurisdiction of incorporation, and is duly qualified as a
foreign corporation or other legal entity, where applicable, and, where legally applicable, is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so
qualified or in good standing would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each Obligor has the corporate (or other organizational) power and authority to own or hold under lease the
properties it purports to own or hold under lease, to transact the business it transacts and proposes to transact, to execute and deliver the Letter of Credit Agreement as amended by this Amendment (the “Amended Agreement”) to which
it is a party and to perform the provisions hereof. 
 B. Authorization, Etc. The Amendment has been duly
authorized by all necessary corporate or other entity action on the part of each Obligor, and the Amendment constitutes a legal, valid and binding obligation of each Obligor party thereto enforceable against any such Obligor in accordance with its
terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of
equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 
 C. No Conflict.
The execution, delivery and performance by each Obligor of the Amendment will not (a) contravene, result in any breach of, or constitute a default under, or result in the creation of any Lien in respect of any property of any Obligor or any
Subsidiary under, any Material indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, corporate charter, memorandum and articles of association, regulations or by-laws, or any other Material agreement or instrument to which
any Obligor or any Subsidiary is bound or by which any Obligor or any Subsidiary or any of their respective properties may be bound or affected, (b) conflict with or result in a breach of any of the terms, conditions or provisions of any
Material order, judgment, decree, or ruling of any court, arbitrator or Governmental Authority applicable to any Obligor or any Subsidiary or (c) violate any provision of any Material statute or other Material rule or regulation of any
Governmental Authority applicable to any Obligor or any Subsidiary. 
 D. Governmental Authorizations, Etc. Except
as disclosed on Schedule 5.7 of the Amended Agreement, no consent, approval or authorization of, or registration, filing or declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by
any 

  
 2 

 
Obligor of the Amendment, including, without limitation, any thereof required in connection with the obtaining of Dollars to make payments under the Amended Agreement or any other Financing
Agreement and the payment of such Dollars to Persons resident in the United States of America, except for the filing of Form 8-K with the SEC. Except as disclosed on Schedule 5.7 of the Amended Agreement, it is not necessary to ensure the
legality, validity, enforceability or admissibility into evidence in the Applicable Jurisdiction of the Amended Agreement or any other Financing Agreement that any thereof or any other document be filed, recorded or enrolled with any Governmental
Authority, or that any such agreement or document be stamped with any stamp, registration or similar transaction tax. 
 E.
Insolvency. As of the First Amendment Effective Date: 
 (a) no Obligor, is unable, or is deemed to be unable for the
purposes of any applicable law, or admits or has admitted its inability, to pay its debts as and when they fall due or has suspended, or announced an intention to suspend, making payments on any of its debts; 

(b) no Obligor, by reason of actual or anticipated financial difficulties has begun negotiations with one or more of its creditors with a
view to rescheduling or restructuring any of its Indebtedness; 
 (c) the value of the assets of the Obligors on a combined
basis exceeds the value of their liabilities on a combined basis (including contingent liabilities); and 
 (d) no moratorium
has been declared in respect of any Indebtedness of any Obligor. 
 F. Incorporation of Representations and Warranties from
Letter of Credit Agreement. The representations and warranties contained in Section 5 of the Letter of Credit Agreement are and will be true and correct in all material respects on and as of the First Amendment Effective Date to the same
extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true and correct in all material respects on and as of such earlier date (other
than any default or waiver of default (other than payment defaults) under the Credit Contract dated December 19, 2011, as amended, among the Company, certain of its subsidiaries and KBC Bank, which would not, individually or in the aggregate,
have a Material Adverse Effect). 
 G. Absence of Default. After giving effect to this Amendment, no event has occurred
and is continuing or will result from the consummation of the transactions contemplated by this Amendment that would constitute an Event of Default or a Default. 
  

	SECTION IV.	ACKNOWLEDGMENT AND CONSENT 

Each Subsidiary Guarantor hereby acknowledges that it has reviewed the terms and provisions of the Letter of Credit Agreement and this
Amendment and consents to the amendment of the Letter of Credit Agreement effected pursuant to this Amendment. Each Subsidiary Guarantor hereby confirms that each Financing Agreement to which it is a party or otherwise bound will continue to
guarantee to the fullest extent possible in accordance with the Financing Agreements the payment and performance of all “Obligations” and “Guaranteed Obligations” under each of the Financing Agreements to which is a party (in
each case as such terms are defined in the Letter of Credit Agreement). 
 Each Subsidiary Guarantor acknowledges and agrees
that any of the Financing Agreements to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or

  
 3 

 
effectiveness of this Amendment. Each Subsidiary Guarantor represents and warrants that all representations and warranties contained in the Amended Agreement and the Financing Agreements to which
it is a party or otherwise bound are true and correct in all material respects on and as of the First Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties
specifically relate to an earlier date, in which case they were true and correct in all material respects on and as of such earlier date. 
  

	SECTION V.	MISCELLANEOUS 

 A.
Reference to and Effect on the Letter of Credit Agreement and the Other Financing Agreements. 
 (i) On and
after the First Amendment Effective Date, each reference in the Letter of Credit Agreement to “this Agreement”, “hereunder”, “hereof, “herein” or words of like import referring to the Letter of Credit Agreement,
and each reference in the other Financing Agreements to the “Agreement”, “thereunder”, “thereof” or words of like import referring to the Letter of Credit Agreement shall mean and be a reference to the Letter of Credit
Agreement as amended by this Amendment. 
 (ii) Except as specifically amended by this Amendment, the Letter of
Credit Agreement and the other Financing Agreements shall remain in full force and effect and are hereby ratified and confirmed. 
 (iii) The execution, delivery and performance of this Amendment shall not constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of the Issuing Bank under, the
Letter of Credit Agreement or any of the other Financing Agreements. 
 B. Headings. Section and Subsection headings in
this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose or be given any substantive effect. 

C. APPLICABLE LAW. THIS AMENDMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE
PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD PERMIT THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE. 

D. Jurisdiction. Each Obligor irrevocably submits to the non-exclusive jurisdiction of any New York State or federal court sitting
in the Borough of Manhattan, The City of New York, over any suit, action or proceeding arising out of or relating to this Amendment or any other Financing Agreement. To the fullest extent permitted by applicable law, each Obligor irrevocably waives
and agrees not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or
proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 
 E. Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed
an original, but all such counterparts together shall constitute but one and the same instrument; signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically
attached to the same document. 

  
 4 

 [Remainder of this page intentionally left blank.] 

  
 5 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered
by their respective officers thereunto duly authorized as of the date first written above. 
  

									
	COMPANY:	 		 	UTi WORLDWIDE INC.
					
		 		 		 	By	 	 /s/ Lance D’Amico

		 		 		 		 	Authorized Signatory

 [Signature Page to First Amendment] 

							
	SUBSIDIARY GUARANTORS:	 		 		 	
				
		 		 		 	UTi (AUST) PTY LIMITED, CAN 006 734 747
		 		 		 	UTi LOGISTICS N.V.
		 		 		 	UTi BELGIUM N.V.
		 		 		 	GODDARD COMPANY LIMITED
		 		 		 	UTi INTERNATIONAL INC.
		 		 		 	PYRAMID FREIGHT (PROPRIETARY) LIMITED
		 		 		 	UTi CANADA CONTRACT LOGISTICS INC.
		 		 		 	UTi, CANADA, INC.
		 		 		 	UTi DEUTSCHLAND GMBH
		 		 		 	UTi (HK) LTD.
		 		 		 	UTi NEDERLAND B.V.
		 		 		 	UTi GLOBAL SERVICES B.V.
		 		 		 	UTi TECHNOLOGY SERVICES PTE LTD.
		 		 		 	UTi WORLDWIDE (SINGAPORE) PTE LTD
		 		 		 	SERVICIOS LOGISTICOS INTEGRADOS SLI, S.A.
		 		 		 	UTi IBERIA S.A.
		 		 		 	UTi WORLDWIDE (UK) LIMITED
		 		 		 	UTi, UNITED STATES, INC.
		 		 		 	UTi INTERGRATED LOGISTICS, INC.
		 		 		 	MARKET TRANSPORT, LTD
		 		 		 	INTRANSIT, INC.
		 		 		 	SAMMONS TRANSPORTATION, INC.
		 		 		 	UTi INVENTORY MANAGEMENT SOLUTIONS, INC.
		 		 		 	CONCENTREK, INC.
				
		 		 	By	 	 /s/ Lance D’Amico

		 		 		 	Authorized Signatory

 [Signature Page to First Amendment] 

 
							
	NEDBANK LIMITED, acting through its London Branch, as Lender and Issuing Bank,
	as
			
		 	By	 	 /s/ Harold James Rolstone

		 		 	Head:	 	Corporate Banking, London
			
		 	By	 	 /s/ Graham Hardy

		 		 	Treasurer, London

 [Signature Page to First Amendment]EX-10.2

 Exhibit 10.2 
 AMENDMENT NO. 1 TO CREDIT AGREEMENT 
 This AMENDMENT NO. 1 TO CREDIT
AGREEMENT (“Amendment”) is entered into as of June 5, 2013 by and among UTi WORLDWIDE, INC., a BVI Business Company incorporated under the laws of the British Virgin Islands (the “Borrower”), BANK OF THE WEST,
a California banking corporation (the “Lender”), and each of the Subsidiary Guarantors (as defined in the Credit Agreement identified below). 
 RECITALS 
 A. Pursuant to that certain Credit Agreement dated as of
June 24, 2011 by and among the Borrower, the Lender and each of the Subsidiary Guarantors party thereto (as amended, extended and replaced from time to time, the “Credit Agreement”), the Lender agreed to extend credit to the
Borrower on the terms and subject to the conditions set forth therein. All capitalized terms not otherwise defined herein shall have the meanings given to such terms in the Credit Agreement. 

B. The Lender and the Borrower desire to modify the definition of “Debt Service Ratio” in the Credit Agreement on the terms and
conditions set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing Recitals and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1.
Amendments. 
 (a) Effective as of April 30, 2013, the definition of “Debt Service Ratio” in
Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 

“Debt Service Ratio” means, for any Measurement Period the ratio of (a) Consolidated EBITDA less distributions,
dividends and redemptions on account of or with respect to capital stock or other equity interests of the Borrower or any Subsidiary (other than those (i) required to be paid under agreements entered into with Persons in order to obtain or
maintain BBBEE status and (ii) received by the Borrower or a Subsidiary during such Measurement Period) to (b) Consolidated Fixed Charges. Notwithstanding the foregoing, for the purposes of the definition of “Debt Service Ratio”
only, there shall be excluded from the calculation thereof to the extent otherwise included therein, (i) up to U.S. $2,100,000 paid by the Borrower in January, 2013 to satisfy the requirement to pay a make-whole amount in connection with the
prepayment of the 2009 Notes and (ii) solely for the fiscal quarters ended April 30, 2013 and July 31, 2013, up to US. $5,000,000 in interest and up to U.S. $1,500,000 in schedule principal payments under a Capital Lease related to
that certain warehouse facility in South Africa constructed for the Borrower to support the Borrower’s pharmaceutical business in the region. 
 (b) Effective as of April 30, 2013, Section 4.02(b) of the Credit Agreement is amended and restated in its entirety to read as follows: 

(b) Except for any Default existing by reason of a default under the Credit Contract between the Borrower, certain of its subsidiaries and
KBC Bank dated December 19, 2011, no Default shall exist, or would result from such Credit Extension; 
 2. Effective
Date. This Amendment shall be effective as of the date first written above upon the date when: 
 (a) the Lender shall have
received this Amendment, duly executed by all parties signatory hereto; 

 (b) the Lender shall have received evidence satisfactory to the Lender that the Debt Service
Ratio definition in each Reference Agreement, as defined in Section 6.17 of the Credit Agreement (including, without limitation, with Commerzbank AG, Sumitomo Mitsui Banking Corporation, Nedbank acting through its London Branch, The
Royal Bank of Scotland N.V. and the holders of the Borrower’s $150,000,000 4.10% Senior Unsecured Guaranteed Notes, Series A, due February 1, 2022 and U.S. $50,000,000 3.50% Senior Unsecured Guaranteed Notes, Series B, due February 1,
2020) has been amended to conform to the definition thereof contained in this Amendment on terms and conditions satisfactory to the Lender; and 
 (c) the Borrower shall have paid to the Lender all reasonable out-of pocket expenses incurred by the Lender in connection with this Amendment and such other fees and expenses as the Lender shall require
to be paid in connection with this Amendment. 
 3. Reaffirmation of the Loan Documents. Each Obligor by executing this
Amendment as provided below, hereby affirms and agrees that: 
 (a) The execution and delivery by it of and the performance of
its obligations under this Amendment shall not in any way amend, impair, invalidate or otherwise affect any of its obligations under the Loan Documents to which it is party except to the extent expressly amended hereby, 

(b) Except as expressly amended and waived hereby, the Loan Documents remain in full force and effect as written. 

4. Representations and Warranties. Each Obligor by executing this Amendment as provided below, hereby represents and warrants to
the Lender that: 
 (a) It has the requisite power and authority and the legal right to execute, deliver and perform this
Amendment and has taken all necessary corporate action to authorize the execution, delivery and performance of this Amendment. 

(b) This Amendment has been duly executed and delivered on its behalf and constitutes its legal, valid and binding obligation enforceable
against it in accordance with its terms except as limited by bankruptcy and similar laws and general principles of equity. 

(c) After giving effect to this Amendment, there does not exist an Event of Default. 

(d) None of such Persons has any existing claims, counterclaims, defenses, personal or otherwise, or rights of setoff whatsoever with
respect to any of the Loan Documents, and the Loan Documents, as amended hereby, constitute valid, legal, binding and enforceable obligations of such Persons, as appropriate. 
 5. No Other Amendment. Except as expressly amended hereby, the Credit Agreement and other Loan Documents shall remain in full force and effect as written. 

6. Counterparts. This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed to
be an original and all of which when taken together shall constitute one and the same agreement. 
 [SIGNATURE
PAGES FOLLOWS] 

  
 -2-

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

					
	BANK OF THE WEST
			
		 	By	 	 /s/ Nino Cordoves

		 		 	Vice President

  
 -3-

 
			
	UTi WORLDWIDE INC.
		
	By	 	 /s/ Lance D’Amico

		
		 	Duly Authorized Signatory (acting pursuant to, and in accordance with, an empowering resolution of the Board of Directors of UTi Worldwide Inc.)

  
 -4-

 
			
	UTI (AUST) PTY LIMITED
	UTI BELGIUM N.V.
	UTI LOGISTICS N.V.
	UTI NETWORKS LIMITED
	UTI, CANADA, INC.
	UTI CANADA CONTRACT LOGISTICS INC.
	UTI DEUTSCHLAND GMBH
	UTI (HK) LIMITED
	UTI GLOBAL SERVICES B.V.
	UTI NEDERLAND B.V.
	UTI TECHNOLOGY SERVICES PTE. LTD.
	UTI WORLDWIDE (SINGAPORE) PTE LTD
	SERVICIOS LOGISTICOS INTEGRADOS SLI SA
	UTI IBERIA S.A.
	UTI WORLDWIDE (UK) LIMITED
	UTI INVENTORY MANAGEMENT SOLUTIONS INC.
	CONCENTREK, INC.
	INTRANSIT, INC.
	MARKET TRANSPORT, LTD.
	SAMMONS TRANSPORTATION, INC.
	UTI, UNITED STATES, INC.
	UTI INTEGRATED LOGISTICS, LLC
	KABUSHIKI KAISHA UTI
		
	By	 	 /s/ Lance D’Amico

		 	Authorized Signatory
	
	GODDARD COMPANY LIMITED
	PYRAMID FREIGHT (PROPRIETARY) LIMITED
	UTI INTERNATIONAL INC.
		
	By	 	 /s/ Lance D’Amico

		
		 	Duly Authorized Signatory (acting pursuant to, and in accordance with, an empowering resolution of the Board of Directors of UTi Worldwide Inc.)

  
 -5-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00218-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00218-of-00352.parquet"}]]