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Employment Agreement

 

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Title:

Employment Agreement

Entities:

UTi Worldwide Inc.

Date:

2006

Size:

Preview shows 6KB of 38KB total

Price:

$41

ID:

#849001

 

 


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EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT (this Agreement) is effective as of the 21st day of February, 2006, between UTi, Services, Inc., a California corporation (the Company), and Linda Bennett (Executive).

In consideration of the promises and covenants set forth below, the parties hereto agree as follows:

1.           Employment. The Company hereby agrees to employ Executive, and Executive hereby agrees to accept such employment with the Company, on the terms and conditions set forth herein. As provided for herein, Executive agrees to also perform services for UTi Worldwide Inc. (UTi Worldwide) and the related group of companies (UTi Worldwide, the Company and such related entities and companies are referred to herein collectively as the UTi Group) without receiving separate consideration for such services.

2.           Term. Executives employment with the Company shall be governed by the provisions of this Agreement for the period commencing on the date written above and continuing until such employment is terminated pursuant to this Agreement or this Agreement is terminated pursuant to the next sentence. This Agreement may be terminated for any reason by either the Company or Executive giving written notification of an intention to terminate this Agreement to the other party, which written notification must be received at least six (6) months prior to the termination date of this Agreement. The period during which the Executive provides services to the Company pursuant to this Agreement shall be referenced in this Agreement as the Employment Period.

3.           Position and Duties. Executive agrees to serve as an employee of the Company and as Senior Vice President, and Chief Information Officer of UTi Worldwide and in such other position or positions within the UTi Group as may be reasonably requested by the Company or the UTi Group without any additional consideration. Executive shall perform Executives duties and obligations faithfully and diligently and shall devote all of Executives business time, attention and efforts exclusively to the business of the Company, UTi Worldwide and the UTi Group. Executive shall industriously perform Executives duties under the supervision of, and shall report to, the Chief Executive Officer of UTi Worldwide or such other officer or officers of UTi Worldwide as determined by either the Board of Directors of UTi Worldwide (the UTiW Board) or the Chief Executive Officer of UTi Worldwide. Executive shall accept and comply with all lawful directions from and all policies established from time to time which are applicable to Executive. Executive shall adhere to the policies and procedures generally applicable to employees of the Company and the UTi Group.

4.           Place of Performance. In connection with Executives employment by the Company and except for required travel on UTi Group business, Executive shall be based at the Companys executive offices, or such other location agreed to by Executive and the Company.

 

 



 

 

 

5.

Compensation and Related Matters.

(a)          Salary. During the Employment Period, the Company shall pay Executive a salary of $225,000 per annum, subject to increase (but not decrease) in the sole discretion of the Company. Such salary shall be paid in equal semi-monthly installments (or such other intervals as the Company may elect) and shall accrue daily.


 

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