Document:

exv10w25

Exhibit 10.25

UTi WORLDWIDE INC.

AMENDED AND RESTATED

2004 NON-EMPLOYEE DIRECTORS SHARE INCENTIVE PLAN

     1. PURPOSE. The purpose of this UTi Worldwide Inc. 2004 Non-Employee Directors Share
Incentive Plan (the “Plan”), as amended and restated herein on June 8, 2009, is to advance the
interests of UTi Worldwide Inc., a British Virgin Islands corporation (the “Company”), and its
shareholders (members) (referred to herein as “shareholders”) by (a) encouraging increased share
ownership by the Company’s directors who are not employees of the Company or any of its
subsidiaries, (b) enhancing the Company’s ability to attract and retain the services of
experienced, able and knowledgeable persons to serve as directors, and (c) providing additional
incentive for directors to contribute their best efforts to the Company’s success.

     2. AWARDS. The Plan permits the granting of the following types of awards (“Awards”
or individually, an “Award”), according to the sections of the Plan listed here:

          Section 5 Restricted Share Units and Restricted Shares

          Section 6 Elective Grants

          Section 7 Deferred Share Units

The date of grant of any Award is referred to herein as the “Grant Date.”

     3. ADMINISTRATION AND AGREEMENTS

          (a) Plan Administration. This Plan shall be administered by the Company’s Board of
Directors (the “Board”). The Board shall have full authority, consistent with this Plan, to
construe and interpret this Plan and any agreements defining the rights and obligations of the
Company and Eligible Directors (as defined below) under the Plan, to promulgate, amend and rescind
such rules and regulations with respect to this Plan as it deems desirable and to make all other
determinations necessary or desirable for the administration of this Plan. Unless arbitrary and
capricious, all decisions, determinations and interpretations of the Board shall be binding upon
all Eligible Directors, the Company, and all other interested persons. The Board may, in its
discretion, delegate any or all of its authority under the Plan to a committee consisting of two or
more non-employee directors of the Company, so long as allowable under applicable law. If such
Board authority is so delegated to a committee, all references to the Board in this Plan shall mean
and relate to such committee to the extent of the powers so delegated. The Company shall pay or
reimburse any member of the Board, as well as any employee or consultant who takes action in
connection with the Plan, for all expenses incurred with respect to the Plan, and shall indemnify
each and every one of them for any claims, liabilities, and costs (including reasonable attorneys’
fees) arising out of their good faith performance of duties under the Plan. The Company may obtain
liability insurance for this purpose.

          (b) Award Agreements. Awards made pursuant to this Plan shall be evidenced by a
written agreement executed by the Company and the Eligible Director receiving such Award. Each
such agreement shall state the terms and conditions of the Award, not inconsistent with this Plan,
as the Board in its sole discretion shall determine and approve. The Company shall maintain
records as to all Awards granted under the Plan.

 

     4. SHARES SUBJECT TO THE PLAN. The shares of stock to be issued pursuant to Awards
shall be authorized shares of the Company’s voting ordinary shares (“Shares” or, individually, a
“Share”), either previously unissued or previously issued but reacquired by the Company. The
aggregate number of Shares to be issued pursuant to Awards shall be Six Hundred Thousand
(600,000), 1 subject to adjustment as provided in Section 8 below. Any Share subject to
an Award which is cancelled, terminated, forfeited, or otherwise expires shall again be available
for subsequent Awards under this Plan.

     5. RESTRICTED SHARE UNITS AND RESTRICTED SHARES

          (a) Eligible Director. As used herein, “Eligible Director” means any of the Company’s
directors who are not employees of the Company or any subsidiary of the Company and have not been
employees of the Company or any subsidiary of the Company during the twelve (12) months preceding
(i) the date such person first became a director for purposes of Section 5(c) below or (ii) the
date of an Annual Meeting (as defined below) for purposes of Section 5 (d) below (collectively,
“Eligible Directors” and individually, an “Eligible Director”).

          (b) Grants. The Company shall grant to Eligible Directors the right to receive Shares
after certain vesting requirements are met (“Restricted Share Units”) or, in the Board’s sole
discretion, restricted Shares (“Restricted Shares”) in accordance with the terms and conditions set
forth in this Section 5. Subject to the requirements set forth in Sections 5(c), 5(d) and 5(e)
below, the Board shall have the sole discretion to determine whether Restricted Share Units or
Restricted Shares will be granted under this Section 5 at any given time.

          (c) Initial Awards. The Company shall grant, to each person who first becomes an
Eligible Director after the date this Plan becomes effective pursuant to Section 13 below (but,
excluding each person who was already serving as an Eligible Director on the date of the Annual
Meeting at which this Plan is first approved by the Company’s shareholders) on the date such person
first becomes an Eligible Director, an initial Award (the “Initial Award”) of that number of
Restricted Share Units (or, if determined by the Board, Restricted Shares) determined by dividing
$80,0002 or such other amount as determined by the Board in its sole discretion from
time to time (the “Initial Award Amount”), by the Fair Market Value (as defined below) on the Grant
Date. If an Eligible Director first becomes an Eligible Director on a date other than the date of
an annual meeting of the Company’s shareholders (an “Annual Meeting”), the Initial Award Amount
then in effect shall be reduced to an amount equal to the product of the Initial Award Amount times
a fraction, (i) the numerator of which shall be the difference between 365 and the number of days
elapsed since the Annual Meeting immediately preceding such Eligible Director’s election and (ii)
the denominator of which shall be 365. If the number of Restricted Share Units or Restricted Shares
in

 

			
	1	 	On March 7, 2006, the Board approved a
3-for-1 division of the Company’s ordinary shares of no par value (the “Stock
Split”). Pursuant to Section 8 of the Plan, the number of ordinary shares
authorized for issuance under the Plan was automatically adjusted from 200,000
ordinary shares to 600,000 ordinary shares on March 27, 2006 as a result of the
Stock Split.
	 
	2	 	On June 12, 2006, the Board amended the Plan
to increase this amount from $65,000 to $75,000 effective the day after the
2006 Annual Meeting of Shareholders. On June 8, 2009, the Board amended the
Plan to increase the amount from $75,000 to $80,000 effective for Initial
Awards granted on or after the date of the 2009 Annual Meeting of Shareholders.

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an Initial Award is less than a whole number, such number shall be rounded to the nearest
whole number.

          (d) Automatic Awards. On the date of each Annual Meeting, commencing with the Annual
Meeting at which this Plan is first approved by the Company’s shareholders (subject to the
limitations contained in this Section 5(d)), the Company shall grant to each Eligible Director as
of the date of such meeting an Award (an “Automatic Award”) of that number of Restricted Share
Units (or, if determined by the Board, Restricted Shares) determined by dividing
$80,0003 or such other amount as determined by the Board in its sole discretion from
time to time, by the Fair Market Value on the Grant Date, provided that such Eligible Director
continues as a director after such Annual Meeting. If an Eligible Director receives an Initial
Award on the date of an Annual Meeting, then such Eligible Director shall not be entitled to an
Automatic Award pursuant to this Section 5(d) with respect to the same Annual Meeting.
Notwithstanding anything in this Section 5(d) to the contrary, if an Eligible Director received an
initial grant of options pursuant to Section 5(b) of the Company’s previously existing Non-Employee
Director Share Option Plan within twelve (12) months of the Annual Meeting pursuant to which this
Plan is first approved by the Company’s shareholders, then such Eligible Director shall not be
entitled to receive an Automatic Award pursuant to this Section 5(d) on the date of the Annual
Meeting at which this Plan is so approved by the shareholders. If the number of Restricted Share
Units or Restricted Shares in an Automatic Award is less than a whole number, such number shall be
rounded to the nearest whole number.

          (e) Chairman Awards. On the date of each Annual Meeting, commencing with the Annual
Meeting at which this Plan is first approved by the Company’s shareholders, the Company shall grant
to the Chairman of the Board, if the Chairman of the Board is then an Eligible Director, as of the
date of such meeting, an Award of that number of Restricted Share Units (or, if determined by the
Board, Restricted Shares) determined by dividing $12,000 or such other amount as determined by the
Board in its sole discretion from time to time, by the Fair Market Value on the Grant Date,
provided that such person continues to be both an Eligible Director and Chairman of the Board after
the Annual Meeting (a “Chairman Award”). A Chairman Award made pursuant to this Section 5(e) shall
be in addition to any Initial Awards or Automatic Awards an Eligible Director might otherwise be
entitled to receive pursuant to Sections 5(c) and 5(d) above. If the number of Restricted Share
Units or Restricted Shares in a Chairman Award is less than a whole number, such number shall be
rounded to the nearest whole number.

          (f) Definition of Fair Market Value. For purposes of this Plan, “Fair Market Value”
as of a certain date (the “Determination Date”) means: (i) the closing price of a Share on the New
York Stock Exchange or the American Stock Exchange (collectively, the “Exchange”), on the
Determination Date, or, if Shares were not traded on the Determination Date, then on the nearest
preceding trading day during which a sale occurred; or (ii) if Shares are not traded on the
Exchange but are quoted on NASDAQ or a successor quotation system, (A) the last sales price (if
Shares are then listed as a National Market Issue under The Nasdaq National Market System) or (B)
the mean between the closing representative bid and asked prices (in all other cases) for the
Shares on the

 

			
	3	 	On June 12, 2006, the Board amended the Plan
to increase this amount from $65,000 to $75,000 effective the day after the
2006 Annual Meeting of Shareholders. On June 8, 2009, the Board amended the
Plan to increase the amount from $75,000 to $80,000 effective for Automatic
Awards granted on or after the date of the 2009 Annual Meeting of Shareholders.

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Determination Date as reported by NASDAQ or such successor quotation system; or (iii) if such
Shares are not traded on the Exchange or quoted on NASDAQ but are otherwise traded in the
over-the-counter, the mean between the representative bid and asked prices on the Determination
Date; or (iv) if subsections (i)-(iii) do not apply, the fair market value established in good
faith by the Board.

          (g) No Award Where Prohibited. No person shall be granted an Award under this Plan if
at the time of such Award, the Award is prohibited by applicable law or by the policies of the
employer of such person or the policies of any other company of which such person is a member of
the board of directors, officer, executive, a general partner or a manager.

          (h) Vesting and Forfeiture. Initial Awards made pursuant to Section 5(c) above shall
become vested and non-forfeitable on the date immediately preceding the Annual Meeting which
follows the Grant Date of the Initial Award, provided that the Eligible Director is then serving as
an Eligible Director on the particular vesting date. Automatic Awards made pursuant to Section
5(d) and Chairman Awards made pursuant to Section 5(e) above shall become vested and
non-forfeitable on the date immediately preceding the Annual Meeting which follows the Annual
Meeting on which such Award was made, provided that on such date the Eligible Director is then an
Eligible Director and, in the case of a Chairman Award, is also serving as Chairman of the Board.
Notwithstanding the foregoing, in the event the date of an Annual Meeting is delayed by more than
thirty (30) days from the first anniversary of the preceding year’s Annual Meeting, then the
Initial Awards, Automatic Awards and Chairman Awards outstanding on such thirtieth day shall become
vested and non-forfeitable. Notwithstanding the preceding sentences, outstanding Initial Awards,
Automatic Awards and Chairman Awards shall become fully vested and non-forfeitable upon a Change in
Control or upon termination of an Eligible Director’s membership on the Board due to death or upon
such other circumstances as the Board may determine in its sole discretion. Any Shares underlying
Awards granted pursuant to Sections 5(c), (d) and (e) above that do not become vested and
non-forfeitable pursuant to this Section 5(h) shall be forfeited.

          (i) Definition of Change in Control. For purposes of this Plan, a “Change in Control”
of the Company shall be deemed to have occurred if:

               (i) a sale, transfer, or other disposition of all or substantially all of the Company’s assets
and properties is closed or consummated;

               (ii) any “person”, “entity” or “group” (within the meaning of Section 13(d)(3) or 14(d)(2) of
the Exchange Act), other than the Company or any majority-owned subsidiary of the Company, is or
becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or
indirectly, of securities of the Company representing fifty percent (50%) or more of the combined
voting power of the Company’s then outstanding securities that have the right to vote in the
election of directors generally, provided, however, that the following shall not constitute a
“Change in Control” of the Company:

	 	(1)	 	any acquisition directly from the Company
or any subsidiary thereof (excluding any acquisition resulting from
the exercise of a conversion or exchange privilege in respect of
outstanding convertible or exchangeable securities); or

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	 	(2)	 	any acquisition by an employee benefit plan
(or related trust) sponsored or maintained by the Company or any
entity controlled by the Company;

               (iii) during any period of two consecutive years during the term of this Plan, individuals who
at the beginning of such period constitute the Board cease for any reason to constitute at least a
majority thereof, unless the election of each director who was not a director at the beginning of
such period has been approved in advance by directors representing at least two-thirds of the
directors then in office who were directors at the beginning of the period; or

               (iv) the Company is dissolved or liquidated or a merger, reorganization, or consolidation
involving the Company is closed or consummated, other than a merger, reorganization, or
consolidation in which holders of the combined voting power of the Company’s then outstanding
securities that have the right to vote in the election of directors generally immediately prior to
such transaction own, either directly or indirectly, fifty percent (50%) or more of the combined
voting power of the securities entitled to vote in the election of directors generally of the
reorganized, merged or consolidated entity (or its parent company) immediately following such
transaction.

          (j) Issuance of Restricted Shares Prior to Vesting. The Company shall issue stock
certificates that evidence Restricted Shares pending the lapse of applicable restrictions, and that
bear a legend making appropriate reference to such restrictions. Except as set forth in the
applicable Award Agreement or the Board otherwise determines, the Company or a third party that the
Company designates shall hold such Restricted Shares. The Company may require that an Eligible
Director who receives Restricted Shares execute an assignment separate from certificate or such
other documents as it deems necessary or desirable.

          (k) Issuance of Shares upon Vesting. As soon as practicable after the vesting of an
Award made pursuant to this Section 5 but no later than the fifteenth (15th) day of the third (3rd)
month following the calendar year in which the Eligible Director becomes vested in the Award, the
Company shall release to the Eligible Director, free from vesting restrictions, one Share for each
vested Restricted Share or issue one Share free from vesting restrictions for each vested
Restricted Share Unit, unless an Award Agreement provides otherwise or the Eligible Director has
irrevocably elected to defer receiving such Shares pursuant to Section 5(n) hereof.

          (l) Cash Dividends. If cash dividends are declared and paid on outstanding Shares
based on a record date on or after a Grant Date, then the Board may, in its discretion, provide in
an Award Agreement that an Eligible Director holding Restricted Shares on such record date shall
receive the cash dividends payable on such Shares and, in the case of Restricted Share Units, an
amount equal to the per share cash dividend otherwise paid on outstanding Shares equal to the
number of Restricted Share Units held by an Eligible Director at the time the cash dividend is
paid. If an Award Agreement provides for payments on account of cash dividends declared and paid
on or after the Grant Date to be made at the time such cash dividends are declared and paid, such
payments will be made no later than the end of the calendar year in which such cash dividends are
declared and paid to by the Company, or, if later, the fifteenth (15th) day of the third (3rd)
month following the date that the cash dividends are declared and paid by the Company.
Notwithstanding the foregoing, the Board may provide in an Award Agreement that some or all of such
cash dividends or amounts equal to such cash dividends may not be paid at all, or may be paid

5

 

on a later day or dates (with or without interest) or may otherwise be subject to
restrictions, limitations and conditions as provided in the applicable Award Agreement.

          (m) Section 83(b) Elections. If an Eligible Director who has received Restricted
Share Units provides the Company with written notice of his or her intention to make an election
under Section 83(b) of the Code, within the prescribed time period (or a similar election under the
laws of another country), with respect to the Shares subject to Restricted Share Units (the
“Section 83(b) Election”), the Board may, in its discretion, convert the Eligible Director’s
Restricted Share Units into Restricted Shares, on a one-for-one basis, in full satisfaction of the
Eligible Director’s Restricted Share Unit Award. Any Restricted Shares issued pursuant to this
Section 8(m) shall continue to vest as provided in Section 8(h) and such Restricted Shares which do
not vest in accordance with Section 8(h) above shall be forfeited and cancelled by the Company.

          (n) Deferral Elections.

               (i) Initial Awards. At any time before the Grant Date of an Initial Award, the
Eligible Director who receives such Initial Award may irrevocably elect, on a form provided by and
acceptable to the Company, to defer the receipt of all or a percentage of the Shares that would
otherwise be issued to the Eligible Director upon the vesting of such Initial Award in the future.

               (ii) Automatic Awards. At any time before and not later than the December 31 of the
calendar year preceding the Grant Date of any Automatic Award, the Eligible Director may
irrevocably elect, on a form provided by and acceptable to the Company, to defer the receipt of all
or a percentage of the Shares that would otherwise be issued to the Eligible Director upon the
vesting of such Automatic Award in the future.

               (iii) If an Eligible Director makes a deferral election pursuant to this Section 5(n), the
Shares subject to such election shall be deferred pursuant to Section 7 hereof on the date such
Shares would otherwise have been released or issued to the Eligible Director. Notwithstanding the
foregoing provisions of this Section 5(n), Shares with respect to which an Eligible Director has
made a Section 83(b) Election shall not be eligible for deferral pursuant to Section 5(n) and
Section 7 hereof.

     6. ELECTIVE GRANTS.

          (a) Election. Each Eligible Director may make an election to receive up to 100
percent (100%) of his or her Quarterly Compensation (as defined below) in increments of five
percent (5%), in the form of Shares (an “Elective Grant”) in accordance with this Section 6. The
election by the Eligible Director to receive an Elective Grant of Shares must be in writing and
must be delivered to the Secretary of the Company before the start of the fiscal quarter during
which services are to be rendered by the Eligible Director giving rise to the Quarterly
Compensation. The election made by an Eligible Director pursuant to this Section 6 shall be in
effect as to Quarterly Compensation payable for services rendered during the fiscal quarter of the
Company covered by the election.

          (b) Shares Issued. The number of Shares to be granted to an Eligible Director who
makes an Elective Grant shall equal (i) the amount of the Quarterly Compensation earned

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during the Company’s fiscal quarter subject to the Elective Grant, divided by (ii) the Fair
Market Value on the last day of such fiscal quarter. In no event shall the Company be required to
issue fractional Shares and any fractional Share will be rounded to the nearest whole Share. As
soon as practicable after each Eligible Director’s Elective Grant of Shares is determined, and in
no event later than the fifteenth day of the third month following the year in which such Elective
Grant of Shares is determined, the Company shall cause to be issued and delivered to such Eligible
Director a stock certificate registered in the name of the Eligible Director evidencing his or her
Elective Grant, less any Shares withheld by the Company pursuant to Section 9 below.

          (c) No Assignment. No right to an Elective Grant and no interest therein may be
assigned, pledged, hypothecated, or otherwise transferred by an Eligible Director except that, in
the event of the death of an Eligible Director prior to the issuance of a stock certificate
evidencing an Elective Grant, such right to such Elective Grant may be transferred to the Eligible
Director’s designated beneficiary or, in the absence of such designation, by will or the laws of
descent and distribution.

          (d) Quarterly Compensation. For purposes of this Plan, “Quarterly Compensation” shall
mean the sum of all meeting fees, annual retainer fees, fees for chairing the Board or a Board
committee, and committee fees for service as a director earned by an Eligible Director during a
quarter. Compensation paid to an Eligible Director for service to the Company in any other
capacity shall be excluded from the calculation of Quarterly Compensation.

          (e) Deferral Elections. An Eligible Director may irrevocably elect, on a form
provided by and acceptable to the Company, to defer the receipt of all or a percentage of the
Quarterly Compensation that would otherwise be payable to the Eligible Director in a future
calendar year by delivering such deferral election to the Company on or before December 31st of the
year preceding the year in which the Eligible Director first performs the services for which the
Quarterly Compensation is paid. Notwithstanding the foregoing, an Eligible Director may make such
deferral election within the 30-day period after he or she first becomes an Eligible Director,
provided that such deferral election will be effective only with respect to Quarterly Compensation
earned after the end of the fiscal quarter in which such deferral election is made. If an Eligible
Director makes a deferral election pursuant to this Section 6(e), the Quarterly Compensation
subject to the election shall be deferred pursuant to Section 7 hereof on the date such
compensation would otherwise have been paid to the Eligible Director.

     7. DEFERRED SHARE UNITS

          (a) Elections to Defer. Any Eligible Director may irrevocably elect, on a form
provided by and acceptable to the Company (the “Election Form”), to defer the receipt of Restricted
Shares for which a Section 83(b) Election has not been made, Shares subject to Restricted Share
Units, and Quarterly Compensation, and in lieu thereof to have the Company credit to an internal
Plan account (the “Account”) that number of deferred share units (“Deferred Share Units”) equal to
the Restricted Shares or Restricted Share Units that the Eligible Director has deferred, and in the
case of Quarterly Compensation which is deferred, the number of Deferred Share Units determined by
dividing the amount of Quarterly Compensation that the Eligible Director has deferred by the Fair
Market Value of a Share on the last day of the quarter for which compensation has been deferred.
Each Election Form will be effective only if it is delivered to the Company in

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accordance with the election timing restrictions set forth in Section 5(n) or Section 6(e),
whichever shall be applicable to the Election Form.

          (b) Vesting. Deferred Share Units shall be 100% vested at all times.

          (c) Cash Dividends. If cash dividends are declared and paid on outstanding Shares
based on a record date on or after the date that receipt of Restricted Shares, Restricted Share
Units or Quarterly Compensation is effectively deferred pursuant to Section 7(a) above, then the
Board may in its sole discretion, provide that an amount equal to the per share cash dividend
otherwise paid on outstanding Shares be paid to the deferring Eligible Director on the number of
Deferred Share Units credited to the Account of such person. Notwithstanding the foregoing, the
Board may provide in an Award Agreement that some or all of such amounts equal to such cash
dividends may not be paid at all, or may be paid on a later date or dates (with or without
interest) or may otherwise be subject to restrictions, limitations and conditions as determined by
the Board.

          (d) Distributions of Shares. The Company shall provide an Eligible Director with one
Share for each Deferred Share Unit in three (3) substantially equal annual installments that are
issued before the last day of each of the three (3) calendar years that end after the date on which
the Eligible Director’s membership on the Board terminates; provided, however, in the event of a
Change in Control that qualifies as a “change in control event” within the meaning of Treasury
Regulation 1.409A-3(i)(5)(i), the Company shall provide an Eligible Director one Share for each
Deferred Share Unit issued at one time upon the occurrence of such Change in Control;
unless in either case—

               (i) the Eligible Director has properly elected a different form of distribution, on a form
approved by the Board that permits the Eligible Director to select any combination of a lump sum
and annual installments that are triggered by the distribution event in the Election Form, and

               (ii) the Company has received the Eligible Director’s distribution Election Form on or before
the effective date of the Eligible Director’s deferral election in accordance with Section 5(n) or
Section 6(e), whichever shall be applicable.

Cash shall be paid in lieu of any fractional shares.

          (e) Emergency Withdrawals. In the event an Eligible Director suffers a severe
financial hardship as a result of an unforeseeable emergency within the contemplation of this
Section and Section 409A(2)(B)(ii) of the Code, the Eligible Director may apply to the Company for
an immediate distribution of all or a portion of his or her Deferred Share Units. An unforeseeable
emergency is a severe financial hardship resulting from an illness or accident of the Eligible
Director, the Eligible Director’s spouse, or a dependent (within the meaning of Section 152(a) of
the Code, without regard to Sections 152(b)(1), (b)(2), and (d)(1)(B) of the Code) of the Eligible
Director, casualty loss of the Eligible Director’s property, or other similar extraordinary and
unforeseeable conditions beyond the control of the Eligible Director. Examples of purposes which
are not considered hardships include post-secondary school expenses or the desire to purchase a
residence. In no event will a distribution be made to the extent the unforeseeable emergency could
be relieved through reimbursement or compensation by insurance or otherwise, by liquidation of the
Eligible

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Director’s assets to the extent such liquidation would not itself cause a severe financial
hardship, or by cessation of deferrals under this Plan or any other deferred compensation plan.
The amount of any distribution hereunder shall be limited to the amount necessary to relieve the
Eligible Director’s unforeseeable emergency plus amounts necessary to pay taxes reasonably
anticipated as a result of the distribution. The Board shall determine whether an Eligible
Director has a qualifying unforeseeable emergency and the amount which qualifies for distribution,
if any. The Board may require evidence of the purpose and amount of the need, and may establish
such application or other procedures as it deems appropriate.

          (f) No Rights to Deferred Share Units. An Eligible Director’s right to Deferred Share
Units shall at all times constitute an unsecured promise of the Company to pay benefits as they
come due. Deferred Share Units shall have no voting rights. The right of an Eligible Director or
his or her beneficiary to receive benefits hereunder shall be solely an unsecured claim against the
general assets of the Company. Neither the Eligible Director nor his or her beneficiary shall have
any claim against or rights in any specific assets, shares, or other funds of the Company.

     8. ADJUSTMENT UPON CHANGES IN CAPITALIZATION. If a reorganization, recapitalization,
stock split, stock dividend, combination of shares, merger, consolidation, rights offering, or any
other change in the corporate structure or shares of voting ordinary shares of the Company occurs,
the number and kind of Shares authorized by this Plan and the number and kind of Shares subject to
Awards, shall be automatically adjusted as required in order to prevent an unfavorable effect upon
the value of the Shares covered by the then outstanding Awards and Shares covered by Awards
subsequently granted.

     9. TAXES.

          (a) Withholding. Any distribution of Shares pursuant to this Plan shall be subject to
withholding of state and federal income taxes, or other taxes to the extent required by applicable
law. In the discretion of the Board, an Eligible Director may satisfy the applicable tax
withholding and employment tax obligations (if any) associated with an Award by surrendering to the
Company Shares (including Shares subject to the Award) that have a Fair Market Value determined as
of the applicable tax date equal to the amount required to be withheld. In the case of Shares
previously acquired from the Company that are surrendered under this Section, such Shares must have
been owned by the Eligible Director for more than six months on the date of surrender (or such
longer period of time that the Board may in its discretion require).

          (b) Income Taxes and Deferred Compensation. Eligible Directors are solely responsible
and liable for the satisfaction of any federal, state, province, or local taxes that may arise in
connection with Awards (including, for Eligible Directors subject to taxation in the United States,
any taxes arising under Section 409A of the Code, except to the extent otherwise specifically
provided in a written agreement with the Company). Neither the Company nor any of its employees,
officers, directors, or service providers shall have any obligation whatsoever to pay such taxes,
to prevent any Eligible Director from incurring such taxes, or to mitigate or protect any Eligible
Director from any such tax liabilities. Notwithstanding anything in this Plan to the contrary, if
any amounts that become due under this Plan as a result of an Eligible Director’s termination of
membership on the Board constitute “nonqualified deferred compensation” within the meaning of
Section 409A, payment of such amounts shall not commence until the Eligible Director incurs a
“separation from service” within the meaning of Treasury Regulation § 1.409A-

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1(h) (“Separation from Service”). If, at the time of an Eligible Director’s Separation from
Service, the Eligible Director is a “specified employee” (under Internal Revenue Code Section
409A), any amount that constitutes “nonqualified deferred compensation” within the meaning of Code
Section 409A that becomes payable to the Eligible Director on account of the Eligible Director’s
Separation from Service (including any amounts payable pursuant to the preceding sentence) will not
be paid until after the end of the sixth calendar month beginning after the Eligible Director’s
Separation from Service (the “409A Suspension Period”). Within 14 calendar days after the end of
the 409A Suspension Period, the Eligible Director shall be paid a lump sum payment in cash equal to
any payments delayed because of the preceding sentence, together with interest on them for the
period of delay at a rate not less than the average prime interest rate published in the Wall
Street Journal on any day chosen by the Board during that period. Thereafter, the Eligible Director
shall receive any remaining benefits as if there had not been an earlier delay.

     10. NO SHAREHOLDER RIGHTS. Except as otherwise provided in this Plan, neither an
Eligible Director nor any transferee of an Eligible Director shall have any rights as a shareholder
of the Company with respect to any Shares underlying an Award until the date of entry of their name
with respect to such Shares in the Company’s Registry of Members in accordance with the Company’s
Memorandum and Articles of Association. Prior to the issuance of Shares pursuant to an Award (as
evidenced by the entry of the Eligible Director’s name with respect to such Shares in the Company’s
Registry of Members in accordance with the Company’s Memorandum and Articles of Association), an
Eligible Director shall not have the right to vote or any other rights as a shareholder with
respect to the Shares underlying the Award. No adjustment will be made for a dividend or other
right that is determined based on a record date prior to the date of entry of their name with
respect to such Shares in the Company’s Registry of Members, except as otherwise specifically
provided for in this Plan.

     11. LAWS AND REGULATIONS.

          (a) U.S. Securities Laws. This Plan, the award of Restricted Share Units, Restricted
Shares or Deferred Share Units, and the obligation of the Company to sell or deliver any of its
securities (including, without limitation, Restricted Share Units, Deferred Share Units, and
Shares) under this Plan shall be subject to all applicable laws, regulations and rules. In the
event that the Shares are not registered under the Securities Act of 1933, as amended (the “Act”),
or any applicable state securities laws prior to the delivery of such Shares, the Company may
require, as a condition to the issuance thereof, that the persons to whom Shares are to be issued
represent and warrant in writing to the Company that such Shares are being acquired by him or her
for investment for his or her own account and not with a view to, for resale in connection with, or
with an intent of participating directly or indirectly in, any distribution of such Shares within
the meaning of the Act, and a legend to that effect may be placed on the certificates representing
the Shares.

          (b) Other Jurisdictions. To facilitate the making of any grant of an Award under this
Plan, the Board may provide for such special terms for Awards to Eligible Directors who are foreign
nationals as the Board may consider necessary or appropriate to accommodate differences in local
law, tax policy or custom. The Board may adopt rules and procedures relating to the operation and
administration of this Plan to accommodate the specific requirements of local laws and procedures
of particular countries. Without limiting the foregoing, the Board is specifically authorized to
adopt rules and procedures regarding the conversion of local currency, taxes,

10

 

withholding procedures and handling of stock certificates which vary with the customs and
requirements of particular countries. The Board may adopt sub-plans applicable to particular
locations and countries.

     12. TERM OF PLAN; TERMINATION AND AMENDMENT OF THIS PLAN. The Plan shall continue in
effect for a term of ten (10) years from its effective date as determined by Section 13 hereof,
unless earlier terminated by this Section 12. The Board may at any time terminate this Plan or may
at any time or times amend or modify this Plan for any purpose which at the time may be permitted
by applicable law. No amendment, suspension, or termination of the Plan or any Awards shall
materially and adversely affect Awards already granted and outstanding, unless either (i) it
relates to an adjustment pursuant to Section 8 above, (ii) it is mutually agreed otherwise between
the Eligible Director and the Company, which agreement must be in writing and signed by both
parties, or (iii) the Board determines with respect to outstanding Awards that the amendment or
modification is for the purpose of satisfying the requirements of any changes in applicable laws or
regulations or to avoid or minimize adverse tax consequences for Eligible Directors.

     In addition to the foregoing, the Board may not terminate the Plan with respect to Deferred
Share Units unless any one of the following conditions in paragraphs (a), (b) or (c) of this
Section 12 are satisfied. These conditions shall apply to only Deferred Share Units and not any
other Awards.

     (a) The Board may terminate the Plan with respect to Deferred Share Units at any time that is
not proximate to a downturn in the Company’s financial health, in accordance with the following
requirements:

               (1) The Plan and all other plans required to be aggregated with the Plan pursuant to Treas.
Reg. § 1.409A-1(c)(2) (“Aggregated Plan”) maintained by the Company are irrevocably terminated;

               (2) No payments other than payments that would otherwise be payable under the terms of the
Plan and any other Aggregated Plan may be made within twelve (12) months following the termination
of such arrangements;

               (3) Except with respect to Eligible Directors who became entitled to benefits under the terms
of the Plan and any other Aggregated Plan prior to the first day of the thirteenth (13th) month
following the date such arrangements are irrevocably terminated, all payments to Eligible Directors
due under the terms of the Plan and any other Aggregated Plan must be made between the first day of
the thirteenth (13th) month and the last day of the twenty-fourth (24th) month following the date
such arrangements are terminated; and

               (4) The Company may not adopt another plan that would qualify as an Aggregated Plan within
three (3) years following the date this Plan is terminated.

     (b) Change in Control. The Board may irrevocably terminate the Plan, with respect to Deferred
Share Units, within thirty (30) days preceding or twelve (12) months following a Change in Control,
provided that all Aggregated Plans are terminated on the same date with respect to each participant
in such plans that experienced a Change in Control, and all such participants

11

 

receive all benefits payable under such plans within twelve (12) months following the
termination date.

     (c) Corporate Dissolution. The Board may terminate the Plan, with respect to Deferred Share
Units, within twelve (12) months following a corporate dissolution taxed under Section 331 of the
Code, or with the approval of a bankruptcy court pursuant to 11 U.S.C. § 503(b)(1)(A), provided
that all benefits payable under the Plan are distributed to Eligible Directors during the latest of
the calendar year in which (a) the Plan is terminated; (b) the benefits are no longer subject to a
substantial risk of forfeiture; or (c) the payment first becomes administratively practicable.

     13. EFFECTIVE DATE. This Plan bacome effective on the date of its approval by the
Company’s shareholders (which was June 25, 2004).

     14. NONTRANSFERABILITY. Except as set forth in this Section 14 or as otherwise
approved by the Board, Awards shall be nonassignable and nontransferable other than by will or the
laws of descent and distribution. Notwithstanding the foregoing, Restricted Shares may be
transferred, with the consent of the Board, by gift to charitable institutions, or by gift to an
Eligible Director’s “Immediate Family.” “Immediate Family” means any child, stepchild,
grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew,
mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, and
shall include adoptive relationships, any person sharing the Eligible Director’s household (other
than as a tenant or employee), a trust in which these persons have more than fifty percent (50%) of
the beneficial interest, a foundation in which these persons (or the Eligible Director) control the
management of assets, and any other entity in which these persons (or the Eligible Director) own
more than fifty percent (50%) of the voting interest.

     15. CONTROLLING LAW. All disputes relating to or arising from the Plan shall be
governed by the internal substantive laws (and not the conflicts of laws) of the British Virgin
Islands to the extent not preempted by United States federal laws. If any provision of this Plan
is held by a court of competent jurisdiction to be invalid and unenforceable, the remaining
provisions shall continue to be fully effective.

12

 

UTi WORLDWIDE INC.

AMENDED AND RESTATED

2004 NON-EMPLOYEE DIRECTORS SHARE INCENTIVE PLAN

	 	 	 	As adopted by the Board of Directors
on May 18, 2004 and approved by the
shareholders on June 25, 2004. As
amended by the Board of Directors on
September 19, 2005. As amended and
restated by the Board of Directors on
March 6, 2006. As amended and
restated by the Board of Directors on
June 12, 2006. As amended and
restated by the Board of Directors on
December 8, 2007. As amended and
restated by the Board of Directors on
June 8, 2009.exv10w44

Exhibit 10.44

EXECUTION COPY

FIRST AMENDMENT

TO LETTER OF CREDIT AGREEMENT

THIS FIRST AMENDMENT TO LETTER OF CREDIT AGREEMENT (this
“Amendment”) is dated as of January
8, 2010 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 Letter of Credit Agreement), Nedbank Limited, acting
through its London Branch (the “Issuing Bank”), and is made with reference to that certain LETTER
OF CREDIT AGREEMENT dated as of July 9, 2009 (as amended through the date hereof, the “Letter of
Credit Agreement”) by and among the Company, the Subsidiary Guarantors named therein 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. AMENDMENTS TO LETTER OF CREDIT AGREEMENT

A. The last subclause (ii) in the second sentence of the first paragraph of Section 1.1 of
the Letter of Credit Agreement is hereby amended and restated in its entirety as follows:

(ii) in no event shall any Letter of Credit have an expiration date later
than the date which is two years from the date of issuance of such Letter of
Credit unless agreed to by the Issuing Bank; provided that any Letter of
Credit that causes the LC Usage to exceed $36,000,000 or is issued at such
time as the LC Usage exceeds $36,000,000 shall have an expiration date on or
before March 1, 2010 unless agreed to by the Issuing Bank.

B. The definition of “Maximum Draw Amount” in Schedule B to the Letter of Credit Agreement
is hereby amended and restated in its entirety as follows:

“Maximum Draw Amount” means (i) before the First Amendment Effective Date
and after March 1, 2010, $36,000,000 and (ii) on and after the First
Amendment Effective Date until and including March 1, 2010, $46,000,000.

C. Schedule B to the Letter of Credit Agreement is hereby amended by adding the following
definitions in proper alphabetical sequence:

 

 

 

“First Amendment” means that certain First Amendment to Letter of Credit
Agreement dated as of January 8, 2010 among the Company, the Subsidiary
Guarantors and the Issuing Bank.

“First Amendment Effective Date” means the date of satisfaction of the
conditions referred to in Section II of the First Amendment.

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 (i) a nonrefundable arrangement fee equal
to $25,000 and (ii) all fees and other amounts due and payable 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 any other
Financing Agreement.

C. Necessary Consents. Each Obligor shall have obtained all material consents necessary
or advisable in connection with the transactions contemplated by this Amendment.

D. Opinions of Counsel; Registered Agent’s Certificate. The Issuing Bank shall have
received (i) an executed copy of a written opinion of Harneys Westwood & Riegels, British Virgin
Islands counsel for the Obligors covering the existence and good standing of the Company, the
capacity and power of the Company to perform its obligations pursuant to the Amendment, the due
execution by the Company of the Amendment, matters related to enforceability, no-conflict, and
choice of law and including other matters incident to the transactions contemplated hereby and
otherwise in form and substance reasonably satisfactory to the Issuing Bank; (ii) an executed copy
of a written opinion of Latham & Watkins LLP, English counsel for the Issuing Bank, each addressed
to the Issuing Bank, dated as of the First Amendment Effective Date, covering matters related to
enforceability and choice of law of the Amendment including other matters incident to the
transactions contemplated hereby and otherwise in form and substance reasonably satisfactory to the
Issuing Bank; and (iii) a copy of the certificate identifying the directors and shareholders of the
Company and executed by Midocean Management and Trust Services (BVI) Limited, as registered agent
of the Company, dated January 7, 2010.

E. 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

 

2

 

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
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 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 order, judgment, decree, or
ruling of any court, arbitrator or Governmental Authority applicable to any Obligor or any
Subsidiary, except for such conflicts or breaches that would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect or (c) violate any provision of any
statute or other rule or regulation of any Governmental Authority applicable to any Obligor or any
Subsidiary, in each case, except for such contraventions, breaches, defaults, Liens, conflicts and
violations that would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect.

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 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 as disclosed on Schedule 5.7 of the

 

3

 

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; and

(c) 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.

G. Absence of Default. 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 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

 

4

 

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 Credit Agreement and the Other Credit Documents.

(i) On and after the First Amendment Effective Date, each reference in the
Letter of Credit Agreement to “this Amendment”, “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 AND ANY NON-CONTRACTUAL OBLIGATIONS ARISING OUT OF OR
IN CONNECTION WITH IT ARE GOVERNED BY ENGLISH LAW.

D. Jurisdiction.

(1) The courts of England have exclusive jurisdiction to settle any dispute arising out
of or in connection with this Amendment (including a dispute relating to the existence,
validity or termination of this Amendment or any non-contractual obligation arising out of
or in connection with this Amendment ) (a “Dispute”).

(2) The parties hereto agree that the courts of England are the most appropriate and
convenient courts to settle Disputes and accordingly no party to this Amendment will argue
to the contrary.

(3) This Section V.D. is for the benefit of the Issuing Bank only. As a result, the
Issuing Bank shall not be prevented from taking proceedings relating to a Dispute in

 

5

 

any other courts with jurisdiction. To the extent allowed by law, the Issuing Bank may
take concurrent proceedings in any number of jurisdictions.

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.

[Remainder of this page intentionally left blank.]

 

6

 

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/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 

 

 

 

	 	 	 	 	 
	SUBSIDIARY GUARANTORS: 	UTi (Aust) Pty Limited, ABN 48 006 734 747

 	 
	 	By:  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi Africa Services Limited

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	Unigistix Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi, Canada, Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi Canada Holdings, Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	Span Manufacturing Limited

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi Deutschland GmbH

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 

 

 

 

	 	 	 	 	 
	 	UTi (HK) Ltd.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi Nederland B.V.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	Servicios Logisticos Integrados SLI, S.A.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	Unión de Servicios Logísticos Integrados, S.A.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi Spain S.A.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi (Taiwan) Limited

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi Logistics (Taiwan) Ltd.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 

 

 

 

	 	 	 	 	 
	 	UTi Worldwide (UK) Limited

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi, (U.S.) Holdings, Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi, United States, Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi, Services, Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi Brokerage, Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi Logistics, Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	Vanguard Cargo Systems, Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 

 

 

 

	 	 	 	 	 
	 	UTi Integrated Logistics, Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	Market Industries, Ltd.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	Market Transport, Ltd

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	Triple Express, Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	InTransit, Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	Market Logistics Services, Ltd.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	Market Logistics Brokerage, Ltd.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 

 

 

 

	 	 	 	 	 
	 	Sammons Transportation, Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	Lake States Trucking, Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	Concentrek, Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	United Express, Ltd.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	African Investments B.V.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 

 

 

 

	 	 	 	 	 
	 	UTi Asia Pacific Limited

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	Goddard Company Limited

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi International Inc.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi (N.A.) Holdings N.V.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi (Netherlands) Holdings B.V.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	Pyramid Freight (Proprietary) Limited

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 	UTi Logistics N.V.

 	 
	 	By  	/s/ Craig Braun
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 	 	 	 	 
	 	 	UTi New Zealand Ltd.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By	 	/s/ Craig Braun	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Authorized Signatory	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	UTi Ireland Limited

Signed, Sealed and Delivered by	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	/s/ Craig Braun	 	 
	 	 	 	 	 
	 	 	Craig Braun,

duly appointed attorney
for and on behalf of

UTi IRELAND LIMITED

in the presence of:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Witness:	 	/s/ Matthew Tachouet	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Matthew John Tachouet	 	 
	 

	 	 	 	Address:
	 	100 Oceangate, Suite 1500

Long Beach, CA 90802	 	 
	 

	 	 	 	Occupation:
	 	Controller	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	UTi Worldwide (Singapore) Pte Ltd.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By	 	/s/ Craig Braun	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Authorized Signatory	 	 

 

 

 

	 	 	 	 	 
	 	NEDBANK LIMITED, acting through its London Branch,

As Issuing Bank

 	 
	 	By:  	/s/ Christo Roets
 	 
	 	 	Name:  	Christo Roets 	 
	 	 	Title:  	Authorized Signatory 	 
	 	 	 
	 	By:  	
/s/ Michael Hipwell
 	 
	 	 	Name:  	Michael Hipwell 	 
	 	 	Title:  	Authorized Signatory

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}]]