Document:

exv4w2

Exhibit 4.2

NOTE: Optional or alternative provisions are identified by brackets

UTi WORLDWIDE INC.

2009 LONG-TERM INCENTIVE PLAN

 

Stock Option Award Agreement

[Providing for the Withholding of Shares to Satisfy Tax Liabilities]

(for U.S. residents/taxpayers)

Award No.                     

     You (the “Participant”) are hereby awarded the following stock option (the
“Option”) to purchase Shares of UTi Worldwide Inc. (the “Company”), subject to the
terms and conditions set forth in this Stock Option Award Agreement (the “Award Agreement”)
and in the UTi Worldwide Inc. 2009 Long-Term Incentive Plan (the “Plan”), which is attached
hereto as Exhibit A. A summary of the Plan appears in the Prospectus, which is attached
hereto as Exhibit B. You should carefully review these documents, and consult with your
personal financial advisor, before exercising the Option.

     By executing this Award Agreement, you agree to be bound by all of the Plan’s terms and
conditions as if they had been set out verbatim in this Award Agreement. In addition, you
recognize and agree that all determinations, interpretations, or other actions respecting the Plan
and this Award Agreement will be made by the Committee and shall be final, conclusive and binding
on all parties, including you and your successors in interest. Capitalized terms are defined in
the Plan or in this Award Agreement.

1. Variable Terms. The Option shall have, and be interpreted according to, the following
terms, subject to the provisions of the Plan in all instances:

	 	 	 	 	 
	 

	 	Name of Participant:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Type of Stock Option:
	 	o Incentive Stock Option (ISO)1
	 
	 	 	 	 
	 

	 	 	 	o Non-Incentive Stock Option
	 

	 	Number of Shares subject to Option:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Option Exercise Price per Share: 2	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Grant Date:	 	 
	 

	 	 	 	 

 

			
	1	 	ISOs may only be granted to Employees of the Company or
an Affiliate of the Company that is a “parent corporation” or “subsidiary
corporation” within the meaning of Section 424 of the Code.
	 
	2	 	The exercise price must be at least 100% of the Fair
Market Value on the Grant Date; provided, however, that, any ISO awarded to a
person owning (within the meaning of Section 422 of the Code) stock
representing more than 10% of the combined voting power of all classes of stock
of the Company or any Affiliate of the Company, the exercise price must be at
least 110% of the Fair Market Value on the Grant Date.

 

 

Stock Option Award Agreement [Providing for the Withholding of

Shares to Satisfy Tax Liabilities] (for U.S. residents/taxpayers)

UTi Worldwide Inc.

2009 Long-Term Incentive Plan

Page 2

	 	 	 	 	 
	 

	 	Expiration Date:3
	 	o            years after Grant Date
	 
	 	 	 	 
	 

	 	 	 	o 10 years after Grant Date

	 	[Vesting Schedule:	 	(Establishes the Participant’s rights to exercise the Option with
respect to the Number of Shares stated above.)

	 	o	 	___% on Grant Date.
	 
	 	o	 	___% on each of the ___(#) annual (___quarterly/___monthly)
anniversary dates of the Participant’s Continuous Service after the
Grant Date.
	 
	 	o	 	The Participant may exercise the Option before vesting occurs, in
accordance with Section 5(c) of the Plan.]

2. Term of Option. The term of the Option will expire at 5:00 p.m. (E.D.T. or E.S.T., as
applicable) on the Expiration Date.

3. Manner of Exercise. The Option shall be exercised in the manner set forth in the Plan.
The amount of Shares for which the Option may be exercised is cumulative; that is, if you fail to
exercise the Option for all of the Shares vested under the Option during any period set forth
above, then any Shares subject to the Option that are not exercised during such period may be
exercised during any subsequent period, until the expiration or termination of the Option pursuant
to Sections 2 and 5 of this Award Agreement and the terms of the Plan. Fractional Shares may not
be purchased.

4. Special ISO Provisions. If designated as an ISO, the Option shall be treated as an ISO
to the extent allowable under Section 422 of the Code, and shall otherwise be treated as a Non-ISO.
If you sell, transfer or otherwise dispose of Shares acquired upon the exercise of an ISO within
the earlier of 1 year from the date such Shares were acquired or within 2 years from the Grant
Date, you agree to deliver a written report to the Company immediately following the sale, transfer
or other disposition of such Shares detailing the net proceeds of such sale or disposition.

5. Termination of Continuous Service. If your Continuous Service with the Company is
terminated for any reason, the Option shall terminate on the date on which you cease to have any
right to exercise the Option as determined pursuant to Section 5(d) of the Plan. 

6. Accelerated Vesting upon Termination without Cause or upon a Change in Control.

     (a) [Unless otherwise provided in an employment or other similar agreement between the Company
or any of its Affiliates and you then in effect, in the event your employment is terminated without
Cause at any time, then the unvested portion of the Option shall become partially vested and
exercisable immediately prior to the effective date of your termination without

 

			
	3	 	In the case of an ISO awarded to a person owning
(within the meaning of Section 422 of the Code) more than 10% of the combined
voting power of all classes of stock of the Company or of any Affiliate of the
Company, the term of the Option may not exceed 5 years from the Grant Date.

 

 

Stock Option Award Agreement [Providing for the Withholding of

Shares to Satisfy Tax Liabilities] (for U.S. residents/taxpayers)

UTi Worldwide Inc.

2009 Long-Term Incentive Plan

Page 3

Cause. The number of unvested Shares underlying the Option which shall vest and become
exercisable will be equal to the number of Shares that                     .

     (b) To the extent that the Option is assumed or substituted by a Successor Corporation, unless
otherwise provided in an employment or other similar agreement between the Company or any of its
Affiliates and you then in effect, in the event you are Involuntarily Terminated on or within 12
months (or such other period set forth in any applicable employment or similar agreement) following
a Change in Control, then the Option shall                     .]

7. Non-Transferability; Designation of Beneficiary. Except as set forth in Section 11 of
the Plan, the Option may not be sold, pledged, assigned, hypothecated, transferred or disposed of
in any manner other than by will or by the laws of descent or distribution and may only be
exercised by you or your guardian or personal representative during your life. Notwithstanding the
foregoing, but subject to the terms of this Award Agreement and the Plan, following the execution
of this Award Agreement, you may expressly designate a beneficiary (the “Beneficiary”) of
your interest in the Option awarded hereby, in the event of your death. You may designate the
Beneficiary by completing and executing a designation of beneficiary agreement substantially in the
form attached hereto as Exhibit C (the “Designation of Beneficiary”) and delivering
an executed copy of the Designation of Beneficiary to the Company.

8. Modifications. This Award Agreement may be modified or amended at any time, provided
that you must consent in writing to any modification that materially and adversely affects your
rights under the Option unless, before a Change in Control, the Committee determines in good faith
that the modification is not materially adverse to you; provided, further, however, that, if the
Committee determines that the Option may be subject to Section 409A of the Code and related
Department of Treasury guidance (including such Department of Treasury guidance as may be issued
after the Effective Date), the Committee may adopt such amendments to the Plan and the Option or
adopt other policies and procedures (including amendments, policies and procedures with retroactive
effect), or take any other actions, that the Committee determines are necessary or appropriate to
(a) exempt the Option from Section 409A of the Code and/or preserve the intended tax treatment of
the benefits provided with respect to the Option, or (b) comply with the requirements of Section
409A of the Code and related Department of Treasury guidance and thereby avoid the application of
any penalty taxes under such section.

9. Termination, Rescission, Recapture and Reimbursement. By executing this Award
Agreement, you acknowledge and agree that the Option and this Award Agreement are made and entered
into subject to the Company’s right of Termination in the circumstances provided for in Section 15
of the Plan and the Company’s right of Termination, Rescission, Recapture and Reimbursement in the
circumstances provided for in Section 16 of the Plan.

10. Not a Contract of Employment. By executing this Award Agreement, you acknowledge and
agree that (i) any person who is terminated before full vesting of an award, such as the one
granted to you by this Award Agreement, could claim that he or she was terminated to preclude
vesting; (ii) you promise never to make such a claim; (iii) nothing in this Award Agreement or the
Plan confers on you any right to continue an employment, service or consulting relationship with
the

 

 

Stock Option Award Agreement [Providing for the Withholding of

Shares to Satisfy Tax Liabilities] (for U.S. residents/taxpayers)

UTi Worldwide Inc.

2009 Long-Term Incentive Plan

Page 4

Company, nor shall it affect in any way your right or the Company’s right to terminate your
employment, service, or consulting relationship at any time, with or without Cause; and (iv) the
Company would not have granted the Option to you but for these acknowledgements and agreements.

11. Severability. Subject to one exception, every provision of this Award Agreement and
the Plan is intended to be severable, and if any provision of the Plan or this Award Agreement is
held by a court of competent jurisdiction to be invalid and unenforceable, the remaining provisions
shall continue to be fully effective. The only exception is that this Award Agreement shall be
unenforceable if any provision of Section 10 is illegal, invalid, or unenforceable.

12. Notices. Any notice or communication required or permitted by any provision of this
Award Agreement to be given to you shall be in writing and shall be delivered personally or sent by
certified mail, return receipt requested, addressed to you at the last address that the Company had
for you on its records. Each party may, from time to time, by notice to the other party hereto,
specify a new address for delivery of notices relating to this Award Agreement. Any such notice
shall be deemed to be given as of the date such notice is personally delivered or properly mailed.

13. Binding Effect. Every provision of this Award Agreement shall be binding on and inure
to the benefit of the parties hereto and their respective heirs, legatees, legal representatives,
successors, permitted transferees, and permitted assigns.

14. Headings. Headings shall be ignored in interpreting this Award Agreement.

15. Counterparts. This Award Agreement may be executed by the parties hereto in separate
counterparts, each of which when so executed and delivered shall be an original, but all such
counterparts shall together constitute the same instrument. 

16. Governing Law. The laws of the British Virgin Islands shall govern the validity of
this Award Agreement, the construction of its terms, and the interpretation of the rights and
duties of the parties hereto.

17. Plan Governs. By signing this Award Agreement, you acknowledge that you have received
a copy of the Plan and that your Option and this Award Agreement are subject to all the provisions
contained in the Plan, the provisions of which are made a part of this Award Agreement and your
Option and this Award Agreement are subject to all interpretations, amendments, rules and
regulations which from time to time may be promulgated and adopted pursuant to the Plan. In the
event of a conflict between the provisions of this Award Agreement and those of the Plan, the
provisions of the Plan shall control. In addition, you recognize and agree that all
determinations, interpretations or other actions respecting the Plan and this Award Agreement may
be made by the Committee in its sole and absolute discretion, and that such determinations,
interpretations or other actions are final, conclusive and binding upon all parties, including you,
your heirs, and representatives.

 

 

Stock Option Award Agreement [Providing for the Withholding of

Shares to Satisfy Tax Liabilities] (for U.S. residents/taxpayers)

UTi Worldwide Inc.

2009 Long-Term Incentive Plan

Page 5

18. Taxes. By signing this Award Agreement, you acknowledge that you shall be solely
responsible for the satisfaction of any federal, state, province, local or foreign taxes that may
arise in connection with this Award Agreement (including any taxes arising under Sections 409A or
4999 of the Code), except to the extent otherwise specifically provided in a written agreement with
the Company. [As a condition to the issuance of Shares upon exercise of the Option pursuant to
this Award Agreement and the Plan, you (or in the case of your death, the person who succeeds to
your rights) or your permitted transferees or permitted assigns shall make such arrangements as the
Company may require for the satisfaction of any applicable][OR][If the Company is obligated to
withhold an amount on account of any] federal, state, province, local or foreign [withholding tax
obligations that may arise in connection with the Option and the issuance][OR][tax imposed as a
result of the exercise by you of all or any portion of the Option (the date upon which the Company
becomes so obligated shall be referred to herein as the “Withholding Date”), then you shall pay to
the Company the minimum aggregate amount that the Company is obligated to withhold as such amount
shall be determined by the Company in its discretion (the “Minimum Withholding Liability”), which
payment shall be made by the automatic cancellation by the Company of a number of Shares which
would otherwise be issued to you on account of such exercise, the aggregate Fair Market Value of
which is equal to the Minimum Withholding Liability (such cancelled Shares to be valued on the
basis of the aggregate Fair Market Value thereof on the Withholding Date); provided that the number
of Shares so cancelled will be rounded up to the nearest whole Share sufficient to satisfy the
Minimum Withholding Liability, with cash being paid to you in an amount equal to the amount by
which the Fair Market Value of such cancelled Shares exceeds the Minimum Withholding Liability. If
the Fair Market Value of the cancelled Shares is less than the Minimum Withholding Liability, then
you shall pay to the Company in cash the difference between the Minimum Withholding Liability and
the Fair Market Value] of [the cancelled] Shares. The Company shall not be required to issue any
Shares until such obligations are satisfied. Neither the Company nor any of its employees,
officers, directors, or service providers shall have any obligation whatsoever to pay such taxes,
to prevent you from incurring them or to mitigate or protect you from any such tax liabilities.
[In the absence of any other arrangement, if you are an Employee, you shall be deemed to have
directed the Company to withhold or collect from your cash compensation an amount sufficient to
satisfy such tax obligations from the next payroll payment or payments otherwise payable after the
date of the exercise of the Option.]

[signature page follows]

 

 

Stock Option Award Agreement [Providing for the Withholding of

Shares to Satisfy Tax Liabilities] (for U.S. residents/taxpayers)

UTi Worldwide Inc.

2009 Long-Term Incentive Plan

Page 6

     BY YOUR SIGNATURE BELOW, along with the signature of the Company’s representative, you and the
Company agree that the Option is awarded under and governed by the terms and conditions of this
Award Agreement and the Plan.

	 	 	 	 	 
	 	UTi WORLDWIDE INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PARTICIPANT

The undersigned Participant hereby accepts the terms of this Award Agreement and the Plan.

 

Name of Participant:exv4w3

Exhibit 4.3

NOTE: Optional or alternative provisions are identified by brackets

UTi WORLDWIDE INC.

2009 LONG-TERM INCENTIVE PLAN

 

Stock Option Award Agreement

[Providing for the Withholding of Shares to Satisfy Tax Liabilities]

(for non-U.S. residents/taxpayers)

Award No.                     

     You (the “Participant”) are hereby awarded the following stock option (the
“Option”) to purchase Shares of UTi Worldwide Inc. (the “Company”), subject to the
terms and conditions set forth in this Stock Option Award Agreement (the “Award Agreement”)
and in the UTi Worldwide Inc. 2009 Long-Term Incentive Plan (the “Plan”), which is attached
hereto as Exhibit A. A summary of the Plan appears in the Prospectus, which is attached as
Exhibit B. You should carefully review these documents, and consult with your personal
financial advisor, before exercising the Option.

     By executing this Award Agreement, you agree to be bound by all of the Plan’s terms and
conditions as if they had been set out verbatim in this Award Agreement. In addition, you
recognize and agree that all determinations, interpretations, or other actions respecting the Plan
and this Award Agreement will be made by the Committee and shall be final, conclusive and binding
on all parties, including you and your successors in interest. Capitalized terms are defined in
the Plan or in this Award Agreement.

1. Variable Terms. The Option shall have, and be interpreted according to, the following
terms, subject to the provisions of the Plan in all instances:

	 	 	 	 	 
	 

	 	Name of Participant:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Type of Stock Option:
	 	þ Non-Incentive Stock Option
	 
	 	 	 	 
	 

	 	Number of Shares subject to Option:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Option Exercise Price per Share: 1	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Grant Date:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Expiration Date:2
	 	o ______ years after Grant Date
	 
	 	 	 	 
	 

	 	 	 	o 10 years after Grant Date

 

			
	1	 	The exercise price must be at least 100% of the Fair
Market Value on the Grant Date.
	 
	2	 	The term of the Option may not exceed 10 years from the
Grant Date.

 

 

Stock Option Award Agreement [Providing for the Withholding of

Shares to Satisfy Tax Liabilities] (for non-U.S. residents/taxpayers)

UTi Worldwide Inc.

2009 Long-Term Incentive Plan

Page 2

	 	[Vesting Schedule:	 	 (Establishes the Participant’s rights to exercise the Option with
respect to the Number of Shares stated above.)

	 	o	 	______% on Grant Date.
	 
	 	o	 	______% on each of the
______ (#) annual
(______
quarterly/______ monthly)
anniversary dates of the Participant’s Continuous Service after the
Grant Date.
	 
	 	o	 	The Participant may exercise the Option before vesting occurs, in
accordance with Section 5(c) of the Plan.]

2. Term of Option. The term of the Option will expire at 5:00 p.m. (E.D.T. or E.S.T., as
applicable) on the Expiration Date.

3. Manner of Exercise. The Option shall be exercised in the manner set forth in the Plan.
The amount of Shares for which the Option may be exercised is cumulative; that is, if you fail to
exercise the Option for all of the Shares vested under the Option during any period set forth
above, then any Shares subject to the Option that are not exercised during such period may be
exercised during any subsequent period, until the expiration or termination of the Option pursuant
to Sections 2 and 4 of this Award Agreement and the terms of the Plan. Fractional Shares may not
be purchased.

4. Termination of Continuous Service. If your Continuous Service with the Company is
terminated for any reason, the Option shall terminate on the date on which you cease to have any
right to exercise the Option as determined pursuant to Section 5(d) of the Plan.  

5. Accelerated Vesting upon Termination without Cause or upon a Change in Control. 

     (a) [Unless otherwise provided in an employment or other similar agreement between the Company
or any of its Affiliates and you then in effect, in the event your employment is terminated without
Cause at any time, then the unvested portion of the Option shall become partially vested and
exercisable immediately prior to the effective date of your termination without Cause. The number
of unvested Shares underlying the Option which shall vest and become exercisable will be equal to
the number of Shares that                     .

     (b) To the extent that the Option is assumed or substituted by a Successor Corporation, unless
otherwise provided in an employment or other similar agreement between the Company or any of its
Affiliates and you then in effect, in the event you are Involuntarily Terminated on or within 12
months (or such other period set forth in any applicable employment or similar agreement) following
a Change in Control, then the Option shall                     .]

6.
Non-Transferability; Designation of Beneficiary. Except as set forth in Section 11 of
the Plan, the Option may not be sold, pledged, assigned, hypothecated, transferred or disposed of
in any manner other than by will or by the laws of descent or distribution and may only be
exercised by you

 

 

Stock Option Award Agreement [Providing for the Withholding of

Shares to Satisfy Tax Liabilities] (for non-U.S. residents/taxpayers)

UTi Worldwide Inc.

2009 Long-Term Incentive Plan

Page 3

or your guardian or personal representative during your life. Notwithstanding the foregoing, but
subject to the terms of this Award Agreement and the Plan, following the execution of this Award
Agreement, you may expressly designate a beneficiary (the “Beneficiary”) of your interest
in the Option awarded hereby, in the event of your death. You may designate the Beneficiary by
completing and executing a designation of beneficiary agreement substantially in the form attached
hereto as Exhibit C (the “Designation of Beneficiary”) and delivering an executed
copy of the Designation of Beneficiary to the Company.

7.
Modifications. This Award Agreement may be modified or amended at any time, provided
that you must consent in writing to any modification that materially and adversely affects your
rights under the Option unless, before a Change in Control, the Committee determines in good faith
that the modification is not materially adverse to you.

8.
Termination, Rescission, Recapture and Reimbursement. By executing this Award
Agreement, you acknowledge and agree that the Option and this Award Agreement are made and entered
into subject to the Company’s right of Termination in the circumstances provided for in Section 15
of the Plan and the Company’s right of Termination, Rescission, Recapture and Reimbursement in the
circumstances provided for in Section 16 of the Plan.

9.
Not a Contract of Employment. By executing this Award Agreement, you acknowledge and
agree that (i) any person who is terminated before full vesting of an award, such as the one
granted to you by this Award Agreement, could claim that he or she was terminated to preclude
vesting; (ii) you promise never to make such a claim; (iii) nothing in this Award Agreement or the
Plan confers on you any right to continue an employment, service or consulting relationship with
the Company, nor shall it affect in any way your right or the Company’s right to terminate your
employment, service, or consulting relationship at any time, with or without Cause; and (iv) the
Company would not have granted the Option to you but for these acknowledgements and agreements.

10.
Severability. Subject to one exception, every provision of this Award Agreement and
the Plan is intended to be severable, and if any provision of the Plan or this Award Agreement is
held by a court of competent jurisdiction to be invalid and unenforceable, the remaining provisions
shall continue to be fully effective. The only exception is that this Award Agreement shall be
unenforceable if any provision of Section 9 is illegal, invalid, or unenforceable.

11. Notices. Any notice or communication required or permitted by any provision of this
Award Agreement to be given to you shall be in writing and shall be delivered personally or sent by
certified mail, return receipt requested, addressed to you at the last address that the Company had
for you on its records. Each party may, from time to time, by notice to the other party hereto,
specify a new address for delivery of notices relating to this Award Agreement. Any such notice
shall be deemed to be given as of the date such notice is personally delivered or properly mailed.

12. Binding Effect. Every provision of this Award Agreement shall be binding on and inure
to the benefit of the parties hereto and their respective heirs, legatees, legal representatives,
successors, permitted transferees, and permitted assigns.

 

 

Stock Option Award Agreement [Providing for the Withholding of

Shares to Satisfy Tax Liabilities] (for non-U.S. residents/taxpayers)

UTi Worldwide Inc.

2009 Long-Term Incentive Plan

Page 4

13. Headings. Headings shall be ignored in interpreting this Award Agreement.

14. Counterparts. This Award Agreement may be executed by the parties hereto in separate
counterparts, each of which when so executed and delivered shall be an original, but all such
counterparts shall together constitute the same instrument. 

15. Governing Law. The laws of the British Virgin Islands shall govern the validity of
this Award Agreement, the construction of its terms, and the interpretation of the rights and
duties of the parties hereto.

16. Plan Governs. By signing this Award Agreement, you acknowledge that you have received
a copy of the Plan and that your Option and this Award Agreement are subject to all the provisions
contained in the Plan, the provisions of which are made a part of this Award Agreement and your
Option and this Award Agreement are subject to all interpretations, amendments, rules and
regulations which from time to time may be promulgated and adopted pursuant to the Plan. In the
event of a conflict between the provisions of this Award Agreement and those of the Plan, the
provisions of the Plan shall control. In addition, you recognize and agree that all
determinations, interpretations or other actions respecting the Plan and this Award Agreement may
be made by the Committee in its sole and absolute discretion, and that such determinations,
interpretations or other actions are final, conclusive and binding upon all parties, including you,
your heirs, and representatives.

17.
Taxes. By signing this Award Agreement, you acknowledge that you shall be solely
responsible for the satisfaction of any federal, state, province, local or foreign taxes that may
arise in connection with this Award Agreement, except to the extent otherwise specifically provided
in a written agreement with the Company. [As a condition to the issuance of Shares upon exercise
of the Option pursuant to this Award Agreement and the Plan, you (or in the case of your death, the
person who succeeds to your rights) or your permitted transferees or permitted assigns shall make
such arrangements as the Company may require for the satisfaction of any applicable][OR][If the
Company is obligated to withhold an amount on account of any] federal, state, province, local or
foreign [withholding tax obligations that may arise in connection with the Option and the issuance
of][OR][tax imposed as a result of the exercise by you of all or any portion of the Option (the
date upon which the Company becomes so obligated shall be referred to herein as the “Withholding
Date”), then you shall pay to the Company the minimum aggregate amount that the Company is
obligated to withhold as such amount shall be determined by the Company in its discretion (the
“Minimum Withholding Liability”), which payment shall be made by the automatic cancellation by the
Company of a number of Shares which would otherwise be issued to you on account of such exercise,
the aggregate Fair Market Value of which is equal to the Minimum Withholding Liability (such
cancelled Shares to be valued on the basis of the aggregate Fair Market Value thereof on the
Withholding Date); provided that the number of Shares so cancelled will be rounded up to the
nearest whole Share sufficient to satisfy the Minimum Withholding Liability, with cash being paid
to you in an amount equal to the amount by which the Fair Market Value of such cancelled Shares
exceeds the Minimum Withholding Liability. If the Fair Market Value of the cancelled Shares is less
than the Minimum Withholding Liability, then you shall pay to the Company in cash the difference
between the Minimum Withholding Liability and the Fair Market Value of the cancelled] Shares.

 

 

Stock Option Award Agreement [Providing for the Withholding of

Shares to Satisfy Tax Liabilities] (for non-U.S. residents/taxpayers)

UTi Worldwide Inc.

2009 Long-Term Incentive Plan

Page 5

The Company shall not be required to issue any Shares until such obligations are satisfied.
Neither the Company nor any of its employees, officers, directors, or service providers shall have
any obligation whatsoever to pay such taxes, to prevent you from incurring them or to mitigate or
protect you from any such tax liabilities. In the absence of any other arrangement, if you are an
Employee, you shall be deemed to have directed the Company to withhold or collect from your cash
compensation an amount sufficient to satisfy such tax obligations from the next payroll payment or
payments otherwise payable after the date of the exercise of the Option.

[signature page follows]

 

 

Stock Option Award Agreement [Providing for the Withholding of

Shares to Satisfy Tax Liabilities] (for non-U.S. residents/taxpayers)

UTi Worldwide Inc.

2009 Long-Term Incentive Plan

Page 6

     BY YOUR SIGNATURE BELOW, along with the signature of the Company’s representative, you and the
Company agree that the Option is awarded under and governed by the terms and conditions of this
Award Agreement and the Plan.

	 	 	 	 	 
	 	UTi WORLDWIDE INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PARTICIPANT

The undersigned Participant hereby accepts the terms of this Award Agreement and the Plan.

 

Name of Participant:

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