Document:

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                                                                    Exhibit 10.1

                                 AMENDMENT NO. 1
                                       TO
                                CREDIT AGREEMENT

     This AMENDMENT NO. 1 TO CREDIT AGREEMENT (this "Amendment") is made as of
the 31st day of May, 2005 by and among UTi, UNITED STATES, INC., a New York
corporation ("UTi"), UTi INTEGRATED LOGISTICS, INC., a South Carolina
corporation f/k/a Standard Corporation ("Logistics"), UTi BROKERAGE, INC., a
California corporation ("Brokerage" and, together with UTi, collectively, the
"Companies" and each, individually, a "Company"), UTi (U.S.) HOLDINGS, INC., a
Delaware corporation (the "Parent Guarantor"), UTi SERVICES, INC., a California
corporation ("Services" and, together with the Companies and the Parent
Guarantor, the "Loan Parties" and each, individually, a "Loan Parties"), the
financial institutions that are or may from time to time hereafter become
parties to the Credit Agreement defined below (together with their respective
successors and assigns, the "Lenders"), LASALLE BANK NATIONAL ASSOCIATION, as
administrative agent for the Lenders (in such capacity, the "Administrative
Agent").

                                R E C I T A L S:
                                ----------------

     A. The Administrative Agent, the Lenders and the Loan Parties are parties
to that certain Credit Agreement dated as of August 5, 2004 (as the same has
been or may hereafter be amended, restated, supplemented or otherwise modified
from time to time, the "Credit Agreement"), pursuant to which, among other
things, the Administrative Agent and the Lenders have agreed, subject to the
terms and conditions thereof, to make certain loans, advances and other
financial accommodations to the Companies.

     B. The Loan Parties, the Administrative Agent and the Lenders are entering
into this Amendment to modify certain of the terms of the Credit Agreement to
extend the delivery date of the annual audited financial statements of the
Parent Guarantor and its Subsidiaries from May 31, 2005 to July 31, 2005.

     NOW, THEREFORE, in consideration of the premises set forth above and the
mutual covenants and promises contained in this Amendment, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:

     SECTION 1. Amendments to the Credit Agreement. As of the Effective Date (as
defined below), Section 10.1.1 of the Credit Agreement is hereby deleted in its
entirety and the following is substituted therefor:

          Section 10.1.1 Annual Report. Promptly when available and in any event
     within 120 days after the close of each Fiscal Year (except that with
     respect to the Fiscal Year ended January 31, 2005, on or before July 31,
     2005): (a) a copy of the annual audit report of the Parent Guarantor and
     its Subsidiaries for such Fiscal Year, including therein consolidated
     balance sheets and statements of earnings and cash flows of the Parent
     Guarantor and its Subsidiaries as at the end of such Fiscal Year, certified
     without adverse

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     reference to going concern value and without qualification by independent
     auditors of recognized standing selected by the Parent Guarantor and
     reasonably acceptable to the Administrative Agent, together with (i) a
     written statement from such accountants to the effect that in making the
     examination necessary for the signing of such annual audit report by such
     accountants, nothing came to their attention that caused them to believe
     that the Parent Guarantor was not in compliance with any provision of
     Section 11.4 or 11.14 of this Agreement insofar as such provision relates
     to accounting matters or, if something has come to their attention that
     caused them to believe that the Parent Guarantor was not in compliance with
     any such provision, describing such non-compliance in reasonable detail and
     (ii) a comparison with the budget for such Fiscal Year and a comparison
     with the previous Fiscal Year; and (b) a consolidating balance sheet of the
     Parent Guarantor and its Subsidiaries as of the end of such Fiscal Year and
     consolidating statement of earnings and cash flows for the Parent Guarantor
     and its Subsidiaries for such Fiscal Year, certified by a Senior Officer of
     the Parent Guarantor.

     SECTION 2. Reaffirmation. Each Loan Party, in its capacity under each of
the Loan Documents to which it is a party (including the capacities of debtor
and pledgor, as applicable, and each other similar capacity, if any, in which
such Loan Party has granted liens on all or any part of its properties or
assets, or otherwise acts as an accommodation party, guarantor, indemnitor or
surety with respect to all or any part of the Obligations), hereby (a) expressly
reaffirms and assumes (on the same basis as set forth in the Credit Agreement
(as amended hereby) and each other Loan Document, in each case, to which it is a
party) all of such Loan Party's obligations and liabilities to the
Administrative Agent and the Lenders as set forth in the Credit Agreement (as
amended hereby) and in each other Loan Document, in each case, to which it is a
party, and agrees to be bound by and abide by and operate and perform under and
pursuant to and comply fully with all of the terms, conditions, provisions,
agreements, representations, undertakings, warranties, guarantees, indemnities
and covenants contained in the Credit Agreement and each other Loan Document to
which it is a party, as such obligations and liabilities have been amended by
this Amendment, and hereby ratifies, confirms and reaffirms in all respects all
obligations and liabilities of such Loan Party under the Loan Documents; (b) to
the extent such Loan Party has granted liens on any of its properties or assets
pursuant to any of the Loan Documents to secure the prompt and complete payment,
performance and/or observance of all or any part of its obligations to the
Administrative Agent and the Lenders, and hereby acknowledges, ratifies,
confirms and reaffirms such grant of liens, and acknowledges and agrees that all
of such liens are intended and shall be deemed and construed to secure to the
fullest extent set forth therein all now existing and hereafter arising
obligations under the Loan Documents to which it is a party, as amended,
restated, supplemented and otherwise modified and in effect from time to time;
and (c) acknowledges and agrees that the Administrative Agent and the Lenders
have fully performed all of their respective obligations to the Loan Parties.

     SECTION 3. Conditions to Effectiveness. This Amendment shall become
effective as of the date first written above upon satisfaction of the following
conditions precedent (such date being the "Effective Date"):

          (a) The Administrative Agent shall have received eight (8)
     fully-executed copies of this Amendment;

                                       2
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          (b) All of the representations and warranties set forth in Section 4
     of this Amendment shall be true and correct; and

          (c) No Unmatured Event of Default or Event of Default is outstanding.

     SECTION 4. Representations and Warranties. To induce the Administrative
Agent and the Lenders to enter into this Amendment, the Loan Parties each hereby
jointly and severally represents and warrants that:

     4.1. Compliance with Loan Documents. On the date hereof, each Loan Party is
in compliance with the terms and provisions set forth in the Credit Agreement
and the other Loan Documents to which it is a party (in each case, as modified
by this Amendment), and no Unmatured Event of Default or Event of Default has
occurred and is continuing which has not been waived in writing by the
Administrative Agent and the Lenders.

     4.2. Representations and Warranties. On the date hereof, the
representations, warranties and covenants of the Loan Parties set forth in the
Credit Agreement and the other Loan Documents, are true and correct with the
same effect as though such representations and warranties and covenants had been
made on the date hereof, except to the extent that such representations and
warranties and covenants expressly relate to an earlier date.

     4.3. Corporate Authority of the Loan Parties. Each Loan Party has full
power and authority to enter into this Amendment and to incur and perform the
obligations provided for under this Amendment and the Credit Agreement (as
amended hereby), all of which have been duly authorized by all proper and
necessary corporate action. No consent or approval of stockholders or of any
public authority or regulatory body is required as a condition to the validity
or enforceability of this Amendment as against any Loan Party.

     4.4. Amendment as Binding Agreement. This Amendment and the Credit
Agreement (as amended hereby) and the other Loan Documents constitute the valid
and legally binding obligation of each Loan Party party thereto, fully
enforceable against each such Loan Party, in accordance with its terms.

     4.5. No Conflicting Agreements. Neither the execution and performance by
the Loan Parties (or any of them) of this Amendment will (i) violate any
provision of law, any order of any court or other agency of government, or the
charter, bylaws or other organizational documents of any Loan Party, (ii)
violate any indenture, contract, agreement or other instrument to which any Loan
Party is a party, or by which its property is bound, or be in conflict with,
result in a breach of or constitute (with due notice and/or lapse of time) a
default under, any such indenture, contract, agreement or other instrument or
result in the creation or imposition of any lien, charge or encumbrance of any
nature whatsoever upon any of the property or assets of any Loan Party, other
than Permitted Liens.

     SECTION 5. General Provision.

     5.1. Except as expressly amended by this Amendment, the terms and
provisions of the Credit Agreement, the Guaranty and Collateral Agreement and
each of the

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other Loan Documents, shall remain unchanged and are in all other respects
ratified and confirmed and remain in full force and effect. This Amendment shall
not waive any Loan Party's compliance with any terms of the Credit Agreement,
the Guaranty and Collateral Agreement or any of the other Loan Document, and
except as expressly set forth herein, the Administrative Agent and the Lenders
reserve all rights and remedies with respect to any such non-compliance.

     5.2. The Loan Parties hereby jointly and severally agree to pay all
out-of-pocket expenses incurred by the Administrative Agent in connection with
the preparation, negotiation and consummation of this Amendment, and all other
documents related thereto, including, without limitation, the reasonable fees
and expenses of the Administrative Agent's counsel, and any filing fees and
recordation tax required in connection with the filing of any documents
necessary to consummate the provisions of this Amendment.

     5.3. This Amendment shall be construed in accordance with and governed by
the laws of the State of Illinois.

     5.4. This Amendment may be executed in any number of counterparts.

     5.5. On or after the Effective Date, each reference in the Credit Agreement
or the Guaranty and Collateral Agreement to this "Agreement", "hereof", or words
of like import, and all references in any other Loan Document to the Credit
Agreement or the Guaranty and Collateral Agreement shall, in each case, unless
the context otherwise requires, be deemed to refer to the Credit Agreement or
the Guaranty and Collateral Agreement, respectively, as amended hereby.

     5.6. The recitals to this Amendment are incorporated herein in their
entirety by this reference thereto and deemed to be a part hereof.

     5.7. This Amendment shall inure to the benefit of the Loan Parties, the
Administrative Agent and the Lenders and their respective successors and
permitted assigns.

                  [remainder of page intentionally left blank;
                             signature pages follow]

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

                                       LOAN PARTIES:
                                       ------------

                                       UTi UNITED STATES, INC.

                                       By:    /s/ Steve C. Savarese
                                              ---------------------------------
                                       Title: Secretary
                                              ---------------------------------

                                       UTi INTEGRATED LOGISTICS, INC., formerly
                                       known as Standard Corporation

                                       By:    /s/ Steve C. Savarese
                                              ---------------------------------
                                       Title: Secretary
                                              ---------------------------------

                                       UTi (U.S.) HOLDINGS, INC.

                                       By:    /s/ Steve C. Savarese
                                              ---------------------------------
                                       Title: Secretary
                                              ---------------------------------

                                       UTi BROKERAGE, INC.

                                       By:    /s/ Steve C. Savarese
                                              ---------------------------------
                                       Title: Secretary
                                              ---------------------------------

                                       UTi SERVICES, INC.

                                       By:    /s/ Steve C. Savarese
                                              ---------------------------------
                                       Title: Secretary
                                              ---------------------------------

                      [signature page to Amendment No. 1]
<PAGE>

                                       ADMINISTRATIVE AGENT AND LENDERS:
                                       --------------------------------

                                       LASALLE BANK NATIONAL ASSOCIATION, as
                                       Administrative Agent and as a Lender

                                       By:    /s/ Lora Backofen
                                              ---------------------------------
                                       Title: First Vice President
                                              ---------------------------------

                                       BANK OF AMERICA, as a Lender

                                       By:    /s/ Scott K. Mitchell
                                              ---------------------------------
                                       Title: Senior Vice President
                                              ---------------------------------

                                       THE BANK OF NEW YORK, as a Lender

                                       By:    /s/ Edward Nallan
                                              ---------------------------------
                                       Title: Vice President
                                              ---------------------------------

                      [signature page to Amendment No. 1]exv4w16

 

	SEE REVERSE FOR CERTAIN DEFINITIONS INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE CUSIP 4q9374 LO 5
FULLY PAID AND NONASSESSABLE SHARES OF COMMON STOCK, $.01 PAR VALUE, OF
IDM Pharma, Inc.
transferable on the books of the Corporation by the holder hereof in person or by duly authorized attorney upon surrender of this certificate properly endorsed. This certificate is not valic’ Inti! ccxter;igr#ed by ,he Tralisfer Agent and registered by the Registrar. WITNESS the facsirrile ssal cf the Cor?cra:ion and the facsimile signatures of its duly authorized officers. Dated:
VICE P~ESIDENTAND CHIEF FINANCIAL OFFICER CHIEF EXECUTIVE OFFICER

 

 

     The Corporation is authorized to issue Common Stock and Preferred Stock. The Board
of Directors of the Corporation has authority to fix the number of shares and the
designation of any series of Preferred Stock and to determine or alter the rights, preferences,
privileges, and restrictions granted to or imposed upon any unissued shares of Preferred Stock.

     The Corporation will furnish to any stockholder, upon request and without charge, a statement of the
powers, designations, preferences and relative, participating, optional or other special rights of
each class of stock or series thereof and the qualifications, limitations or restrictions of such
preferences and/or rights, so far as the same shall have been fixed, and of the authority
of the Board of Directors to designate and fix any preferences, rights and limitations of
any wholly unissued series. Any such request should be addressed to the Secretary of the
Corporation at its principal office.

     KEEP THIS CERTIFICATE IN A SAFE PLACE. IF IT IS LOST, STOLEN, OR DESTROYED, THE CORPORATION
WILL REQUIRE A BOND OF INDEMNITY AS A CONDITION TO THE ISSUANCE OF A REPLACEMENT
CERTIFICATE.

     The following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as though they were written out in full according to applicable
laws or regulations:

	 	 	 	 	 	 	 	 	 
	TEN COM
	 	—	 	as tenants in common	 	UNIF GIFT MIN ACT —	 	.......................Custodian.......................
	TEN ENT
	 	—	 	as tenants by the entireties	 	 	 	(Cust)                                       (Minor)

	JT TEN
	 	—	 	as joint tenants with right of	 	 	 	under Uniform Gifts To Minors

	 
	 	 	 	survivorship and not as tenants	 	 	 	Act.......................................................
	 
	 	 	 	in common	 	 	 	(State)

	COM PROP
	 	—	 	as community property	 	UNIF TRF MIN ACT —	 	..................Custodian (until
age............)
	 	(Cust)

	 	.......................Under Uniform Transfers
	 	(Minor)

	 	To Minors Act......................................
	 	(State)

Additional
abbreviations may also be used though not in the above list.

     For Value Received,_______________________________________________hereby sell(s), assign(s) and transfer(s) unto

PLEASE INSERT SOCIAL SECURITY OR OTHER

   IDENTIFYING NUMBER OF ASSIGNEE

	 
	 

      

	 	 
	      

	(PLEASE
PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF
ASSIGNEE)

	 

	 

	 	shares

	of the capital stock represented by the within Certificate, and do hereby irrevocably constitute
and appoint

	 	 
	 	attorney-in-fact

to transfer the said stock on the books of the within named Corporation with full power of
substitution in the premises.

Dated                                                                           
      

	 	 	 
	 
	 	 
	NOTICE:
	 	THE SIGNATURE TO THIS ASSIGNMENT
MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF

THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE

WHATSOEVER.

Signature Guaranteed

	 	 
	
THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR
INSTITUTION, (BANKS,

STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH
MEMBERSHIP IN AN

APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C.
RULE 17Ad-15.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}]]