Mr. Eric Kirchner 100 Oceangate, Suite 1500 Long Beach, CA 90802
EXHIBIT
10.47
Xx. Xxxx Xxxxxxxx
000 Xxxxxxxxx, Xxxxx 0000
Xxxx Xxxxx, XX 00000
000 Xxxxxxxxx, Xxxxx 0000
Xxxx Xxxxx, XX 00000
March 25, 2011
Dear Xxxx:
Reference is made to the Amended and Restated Employment Agreement (the “Agreement”) dated March
25, 2010, between yourself and UTi, Services, Inc.
In order to conform Section 5(b) of the Agreement to the language contained in our standard form of
employment agreement for our other executive officers, we hereby agree that Section 5(b) of the
Agreement shall be replaced and restated in its entirety to read as follows:
(b) Performance Bonus; Equity-Based Compensation. During the Employment
Period, Executive shall be eligible (i) for consideration for an annual cash performance
bonus in accordance with the applicable terms of the bonus plan as in effect from time to
time as determined by the UTi Board and (ii) to participate in equity-based incentive plans
in accordance with the terms of such plans and as determined by the UTi Board.
If this correctly sets forth our mutual understanding, please sign in the space provided below.
Best Regards
Xxxxx X. X’Xxxxx
Vice President
UTi, Services, Inc.
Vice President
UTi, Services, Inc.
Accepted and agreed solely |
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for purposes of the Guarantee
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Accepted and agreed: | |||||
Senior Vice President |
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