Document:

EX-10.61

 Exhibit 10.61 
 ModusLink 
 FY 2018 MANAGEMENT INCENTIVE PLAN 

1.    PURPOSE OF THE PLAN. The purpose of the ModusLink FY 2018 Management Incentive Plan (the
“MIP”) is to allow ModusLink Corporation and its subsidiaries (the “Company”) to provide incentive compensation bonuses (“Incentive Bonuses”) to key managers in both the corporate offices
(“Corporate”) and particular business units (each, a “Business Unit”), upon whom, in large measure, the sustained progress, growth and profitability of the Company depends. The MIP provides for the award of Incentive Bonuses that
are intended to satisfy the requirements for performance-based compensation in Section 162(m) of the Internal Revenue Code of 1986, as amended, and the regulations thereunder (the “Code”). 

2.    ADMINISTRATION OF THE MIP. The MIP shall be administered by the Chief Executive Officer (“CEO”), the
Chief Human Resources Officer (“CHRO”) and the Compensation Committee of the Board of Directors (“Board”), provided that only the Compensation Committee shall determine the amount of the Incentive Bonus payable to the CEO and the
direct reports to the CEO, who comprise the Executive Leadership Team (“ELT”) (the CEO, CHRO and the Compensation Committee are collectively referred to as “Plan Administrators”). Subject to the provisions of the MIP, the CEO and
the CHRO shall have the authority to (i) nominate the key managers to participate in the MIP, (ii) propose the amount of the Incentive Bonus payable to any Participant, and (iii) make all other determinations and take all other
actions necessary or appropriate for the proper administration and operation of the MIP, including amendment of the MIP. Any proposal or recommendation by the CEO and the CHRO regarding the MIP shall thereafter be approved, on at least a quarterly
basis at the end of each fiscal quarter, by the Plan Administrators in their sole discretion and need not be uniform among Participants. The Plan Administrators’ interpretation of the MIP shall be final, conclusive and binding on all parties
concerned, including the Company, its stockholders and any Participant. 
 3.    ELIGIBILITY. Incentive
Bonuses under the MIP may be paid to those key managers who (a) have been designated as Participants by the Plan Administrators, and (b) are employed by the Company on the date payments are made under the MIP, and (c) have held a
position eligible under section 3(a) for at least six months prior to the last day of the Fiscal Year 2018 (the “Participants”). 
 4.    PERFORMANCE PERIOD. Incentive Bonuses shall be payable to a Participant as a result of the satisfaction of the factors specified in Section 5 below, in respect to the
Company’s 2018 fiscal year which begins on August 1, 2017 and ends on July 31, 2018 (“Fiscal Year 2018”). 
 5.    INCENTIVE BONUS CALCULATIONS. 

(a)    Threshold Financial Results: No Incentive Bonus shall be awarded to any participant unless the Company
achieves a minimum financial result of seventy-five percent (75%) of Target Adjusted EBITDA (the “EBITDA Threshold”). The amount of the Target Adjusted EBITDA for Fiscal Year 2018 and the EBITDA Threshold shall be as set by the Board or a
committee thereof. “Adjusted EBITDA” shall be defined as adjusted EBITDA as defined for external reporting purposes, plus cost of “Align, Leverage, Prosper, Sustain” (“ALPS”) initiatives. 

 (b)    Participant Incentive Bonus Target. Each Participant shall
receive Schedule A, attached hereto, which shall contain his or her individual Incentive Bonus Target, which shall be expressed as a percentage of his or her base salary as of August 1, 2017, the effective date of the MIP. To be eligible to
receive Incentive Bonuses pursuant to the MIP, Participants will be required to acknowledge and accept his or her MIP Agreement. 

(c)    Designation of Corporate or Business Unit Category. Participants are eligible for Incentive Bonuses
aligned with either the Corporate or a Business Unit. Such designation shall be specified in Schedule A attached to each Participant’s MIP. To the extent that a Participant is aligned with more than one Corporate or Business Unit during Fiscal
Year 2018, his or her bonus shall be calculated based on the results of the Corporate or Business Unit with which the Participant spent the most time during Fiscal Year 2018. 
 (d)    Calculation of Incentive Bonus Target Earned by Corporate Participants: Provided the Company has achieved or exceeded the EBITDA Threshold specified in 5(a) above,
Incentive Bonuses for the Corporate Participants shall have three components: 50% of the Incentive Bonus shall be awarded based on achievement of the EBITDA Threshold, 35% shall be awarded based on year over year growth of Value Added Revenue
(“VAR”) (which shall be defined as the revenue from sales, less the cost of materials and freight), and 15% shall be awarded based on Participant’s implementation of defined objectives in support of the Strategic Plan. Depending on
the extent to which actual Adjusted EBITDA exceeds the EBITDA Threshold, the Plan Administrators shall apply a multiplier to the Incentive Bonus Target of between .75 and 2.00 that will result in a decrease or increase to the Incentive Bonus. The
Incentive Bonus shall be calculated as follows: 
 (i)    If Adjusted EBITDA achievement is equal to or
greater than the EBITDA Threshold, Participant shall receive that portion of his or her Incentive Bonus equal to fifty percent (50%) multiplied by the Participant’s Incentive Bonus Target; 

(ii)    Provided that Year over Year VAR target, as determined by the CEO, is achieved, Participant shall also receive
that portion of his or her Incentive Bonus equal to thirty-five percent (35%) multiplied by Participant’s Incentive Bonus Target; and 
 (iii)    Provided Participant implements his or her defined objectives in support of the Strategic Plan to the satisfaction of the Plan Administrators, Participant shall also receive
all or a portion of his or her Incentive Bonus equal to fifteen percent (15%) multiplied by Participant’s Incentive Bonus Target. 
 (iv)    The Plan Administrators shall add the percentages resulting from sections 5(d)(i)-(iii) to determine the percentage of Incentive Bonus Target for which a Participant has
qualified. That percentage, multiplied by the Participant’s base salary shall be the Base Incentive Bonus Amount (the “Base Incentive Bonus Amount”). 
 (e)    Calculation of Incentive Bonus Target Earned by Business Unit Participants. Provided the Company has achieved or exceeded the EBITDA Threshold specified

  
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in 5(a) above, Incentive Bonuses for the Business Unit Participants shall have four components: 25% of the Incentive Bonus shall be awarded based on achievement of the EBITDA Threshold, 35% shall
be awarded based on achievement of Business Unit operating income goals determined by the CEO for each Business Unit, 25% shall be based upon Participant’s implementation of defined objectives in support of the Strategic Plan, and 15%
shall be based upon meeting the cash conversion cycle target determined for each Business Unit by the Chief Financial Officer. Depending on the extent to which actual Adjusted EBITDA exceeds the EBITDA Threshold, the Plan Administrators shall apply
a multiplier to the Incentive Bonus Target of between .75 and 2.00 that will result in a decrease or increase to the Incentive Bonus. The Incentive Bonuses shall be calculated as follows: 

(i)    If Adjusted EBITDA achievement is equal to or greater than the EBITDA Threshold, Participant shall receive that
portion of his or her Incentive Bonus equal to twenty-five percent (25%) multiplied by the Participant’s Incentive Bonus Target; 
 (ii)    Provided that Fiscal Year 2018 Business Unit operating income meets or exceeds that Business Unit’s operating income goals, Participant shall also receive that portion of
his or her Incentive Bonus equal to thirty-five percent (35%) multiplied by Participant’s Incentive Bonus Target; 

(iii)    Provided Participant implements his or her defined objectives in support of the Strategic Plan to the
satisfaction of the Plan Administrators, Participant shall also receive all or a portion of his or her Incentive Bonus equal to twenty-five percent (25%) multiplied by Participant’s Incentive Bonus Target; and 

(iv)    Provided that during Fiscal Year 2018, the cash conversion cycle meets the Business Unit’s target,
Participant shall also receive that portion of his or her Incentive Bonus equal to fifteen percent (15%) multiplied by Participant’s Incentive Bonus Target. 
 (v)    The Plan Administrators shall add the percentages resulting from Sections 5(e)(i)-(iv) to determine the percentage of Incentive Bonus Target for which a Participant has
qualified. That percentage, multiplied by the Participant’s base salary shall be the Base Incentive Bonus Amount (the “Base Incentive Bonus Amount”). 
 (f)    Application of Incentive Bonus Multiplier. If Adjusted EBITDA achievement is equal to or greater than EBITDA Threshold, and up to Target Adjusted EBITDA, the Base
Incentive Bonus Amount shall be multiplied by the actual between percentage of Adjusted EBITDA (between 75% and 100%). If Adjusted EBITDA achievement is between 101% and 150% of Target Adjusted EBITDA, the Based Incentive Bonus Amount shall be
multiplied by 101% to 200% on a corresponding and progressive performance scale based on the actual Adjusted EBITDA of between 101% and 150% of Target Adjusted EBITDA to determine the Participant’s Incentive Bonus. 

(g)    Timing of Incentive Bonus Determination. As soon as practicable after the end of Fiscal Year 2018, but
no later than 10 days following the release of fiscal year-end earnings, but before any Incentive Bonuses are paid, the Plan Administrators shall calculate the Incentive Bonuses for each participant.

  
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 6.    OTHER TERMS OF INCENTIVE BONUSES 

(a)    Death. In the event that a Participant previously awarded or granted an Incentive Bonus shall die after
the completion of Fiscal Year 2018, but prior to the payment of such Incentive Bonus, the Participant (or in the event of the Participant’s death, the Participant’s beneficiary) shall be entitled to receive such amount, if any, of the
Incentive Bonus granted or awarded to the Participant as shall be determined by the Plan Administrators in their sole discretion. 
 (b)    Other Terminations of Employment. If a Participant’s employment terminates prior to the end of a Fiscal Year 2018 for any reason other than death, the Participant
shall not be entitled to receive any Incentive Bonus established for the Participant; provided, however, that the Plan Administrators, in their discretion, may determine that the Participant shall be entitled to receive all or any part
of the Incentive Bonus that would be payable to the Participant based upon the achievement of the applicable requirements set forth in Section 5. 
 (c)    Payment. As soon as practicable following the Plan Administrators’ determination of the amount of any Incentive Bonus payable to Participant (in accordance with
Section 5(d)), but no later than 15 days after such determination, such Incentive Bonus shall be paid by the Company in cash to Participant (the “Payment”). Notwithstanding the foregoing, if a Participant shall have died and the
Committee, in its sole discretion, determines that Participant shall be entitled to receive an Incentive Bonus, then such Incentive Bonus shall be paid to such Participant’s beneficiary) in cash promptly following the date for payment specified
by the Committee at the time the Incentive Bonus is determined by the Committee, but in no event later than March 31 of the year following the year in which such death occurred. 

7.    MISCELLANEOUS PROVISIONS. 
 (a)    No Right to Incentive Bonus. Notwithstanding anything contained herein to the contrary, no key manager, officer or other person shall have any claim or legally binding
right to be paid any Incentive Bonus awarded or granted under the MIP prior to the actual payment thereof, and any Participant who terminates employment (other than due to death) prior to the payment of an Incentive Bonus shall forfeit any right to
receive such Incentive Bonus, regardless of the terms of any award or grant or any prior determination by the Committee. Participation in and/or the award of any Incentive Bonus and/or receipt of any payment under the MIP in any one year or over
several years does not create an entitlement to participation in and/or any award of grant any Incentive Bonus under a MIP in a subsequent year. 
 (b)    No Assurance of Employment. Neither the establishment of the MIP nor any action taken thereunder shall be construed as giving any key manager, officer or other person any
right to be retained in the employ of the Company. 
 (c)    Withholding Taxes. The Company shall have
the right to deduct from all Incentive Bonuses payable hereunder any federal, state, local or foreign taxes required by law to be withheld with respect to such payments. 
 (d)    No Transfers or Assignments. No Incentive Bonus under the MIP nor any rights or interests herein or therein shall be assigned, transferred, pledged, encumbered, or
hypothecated to, or in favor of, or subject to any lien, obligation, or liability of a Participant to, any party (other than the Company), except, in the event of the Participant’s death, to his designated beneficiary as hereinafter provided.

  
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 (e)    Beneficiary. Any payments on account of an Incentive Bonus
payable under the MIP to a deceased Participant shall be paid to such beneficiary as has been designated by the Participant in writing to the Secretary of the Company or in the absence of such designation, according to the Participant’s will or
the laws of descent and distribution. 
 (f)    Non-exclusivity of
MIP. Nothing in the MIP shall be construed in any way as limiting the authority of the Plan Administrators, the Board of Directors of the Company or the Company to establish any other annual or other incentive compensation plan or as limiting
the authority of any of the foregoing to pay cash bonuses or other supplemental or additional incentive compensation to any persons employed by the Company, whether or not such person is a Participant in this MIP and regardless of how the amount of
such bonus or compensation is determined. 
 8.    AMENDMENT OR TERMINATION OF THE MIP. The Plan
Administrators, without the consent of any Participant, may at any time terminate or from time to time amend the MIP in whole or in part, whether prospectively or retroactively, including in any manner that adversely affects the rights of
Participants; provided, however, that no amendment with respect to the terms of the MIP that would require the approval of the stockholders of the Company pursuant to Section 162(m) of the Code shall be effective without such
approval. 
 9.    LAW GOVERNING. The validity and construction of the MIP shall be governed by the laws of
the State of Delaware, but without regard to the conflict laws of the State of Delaware. 
 10.    EFFECTIVE
DATE. The MIP shall be effective as of August 1, 2017, or, if applicable, when approved by the stockholders of the Company in accordance with Section 162(m) of the Code. 

  
 -5-Exhibit 10.14

 

Facility Agreement

 

No.: 2017 X. J. W. S. Z. No. 013

 

	Credit grantor:	China Merchants Bank Co., Ltd. Beijing Branch (hereinafter referred to as Party A)
	Person chiefly in charge: Wang Jianzhong
	 	 
	Credit applicant:	Beijing REIT Technology Development Co., Ltd. (hereinafter referred to as Party B)
	Legal representative/Person chiefly in charge: Li Hengfang

 

Article
1:      Line of credit

 

		1.1	Party A offers Party B the line of credit of RMB Twenty Million (including other equivalent
currencies, the exchange rate will be translated according to the foreign exchange quotation announced by Party A upon actual occurrence
of each specific business, similarly hereinafter). Among them, the revolving line of credit is RMB Twenty Million.

 

		1.2	Party A and Party B have signed the Credit Agreement numbering 2016 Z. H. B. S. No. 001 originally,
as of the effective date hereof, if the specific business handled under such Credit Agreement still has outstanding balance, it
will be included under this Agreement automatically and directly take up the credit line hereunder.

 

Article
2:     Credit period

 

The credit
period is twelve months, namely from June 7, 2017 to May 26, 2018 (maturity date). Party B shall propose credit use application
to Party A within such period, and Party A will not accept the credit use application proposed by Party B after the maturity date
of credit period, unless otherwise prescribed herein.

 

Article
3:     Use of the line of credit

 

		3.1	The line of credit mentioned above is the single line of credit in working capital loan.

 

     

     

    

 

		3.2	Where Party B applies for working capital loan within the line of credit, Party A and Party B do
not need to otherwise sign a “Loan Contract” for every withdrawal, provided upon every application for loan allocation,
Party B shall submit the “Withdrawal Application”, certificate of indebtedness, and the materials to be submitted by
Party B as requested by Party A according to various requirements for independent payment or entrusted payment. The actual allocation
amount, including commencement date and deadline, usage, interest rate of every specific withdrawal shall be subject to the record
in the certificate of indebtedness.

 

The “Withdrawal
Application” and certificate of indebtedness constitute an integral part of this Agreement.

 

		3.3	Use period shall be determined specifically for every loan or other credit grant under the line
of credit according to Party B’s operating demand and Party A’s business management regulations, and the maturity date
of each specific loan may be later than the maturity date of credit period.

 

Article
4:     Interest rate

 

		4.1	For the issuance of RMB loan, the one-year Loan Prime Rate (LPR)
announced by the National Interbank Funding Center 1 working day before the fixing date will be taken as the benchmark interest
rate for floating 10% upward. 

 

		4.2	Where Party B fails to use the loan as agreed in the agreement, for
the part of loan not used as agreed, as of the date of changing the use, extra 100% of interest will be charged based on
the original interest rate.

 

Where Party
B fails to repay the loan on schedule, for the outstanding part, extra 50% of interest will be charged based on the original
interest rate as of the date of becoming overdue.

 

Article
5:      Guarantee clause

 

		5.1	Beijing Zhongguancun Sci-tech Financing Guaranty Co., Ltd. and Li
Hengfang are the guarantors of joint and several liability for all debts owed by Party B to Party A hereunder, who have issued
the "Maximum Amount Irrevocable Letter of Guarantee" numbering 2017 X. J. W. S. Z. No. 013 B. No. 01 and 2017 X. J.
W. S. Z. No. 013 B. No. 02 to Party A.

 

Article
6:     Party B bears the following obligations:

 

		6.2.1	Shall truthfully provide the documents (including but not limited
to providing truthful financial statements and annual financial reports as required by Party A, and major decisions and changes
in the aspects of production, operation and management) as required by Party A and the conditions of all banks of deposit, account
numbers and balance of deposits and loans, and coordinate with Party A’s investigation, examination and inspection;

 

    2

     

    

 

		6.2.2	Shall accept Party A’s supervision on its use condition of
credit funds and relevant production, operation and financial activities;

 

		6.2.3	Shall use the loan and/or other credits according to this Agreement
and the agreed purpose and/or commitment in each specific contract, and comply with Party A’s requirements relating to the
payment management of loan funds;

 

		6.2.4	Shall fully repay the loan, advance and the principal and interest
of other credit debts on schedule according to this Agreement and any specific contract;

 

		6.2.5	For transfer of the debts hereunder to a third person, in whole or
in part, Party B shall ask for Party A’s written consent;

 

		6.2.6	Provided under the following circumstances, Party B shall inform
Party A immediately, and actively coordinate with Party A to properly implement safeguard measures for safe repayment of the loan,
advance, principal and interest of other credit debts and all relevant expenses hereunder:

 

		6.2.6.1	Suffer from major financial loss, assets loss or other financial
crisis;

 

		6.2.6.2	Provide loan or assured guarantee for a third party, or provide mortgage
(pledge) guarantee for its own property (right);

 

		6.2.6.3	Downgrading credit standing, weakening profitability in major businesses;

 

		6.2.6.4	Termination of business, being revoked or cancellation of business
license, voluntary or involuntary bankruptcy, and dissolution events;

 

		6.2.6.5	Major crisis occurs in the operation or financial aspects of controlling
shareholders and other affiliated companies, affecting the normal operation thereof;

 

		6.2.6.6	Engage in major related transaction with its controlling shareholder
and other affiliated company, affecting its normal operation;

 

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		6.2.6.7	In case of any litigation, arbitration, or criminal or administrative
penalty, causing major adverse effect on its operation or financial condition;

 

		6.2.6.8	Personnel changes in Party B’s legal representative, director
or important senior management, or the personal freedom of such personnel is restricted by competent national authority due to
violation of law and discipline, which might affect its normal operation;

 

		6.2.6.9	Occurrence of other major events that might affect is debt-paying
ability.

 

		6.2.7	Shall, in a timely manner manage and assert its creditor’s
rights (to any party that is a debtor to Party B) and not dispose of major existing property for free or in any other inappropriate
manner.

 

		6.2.8	Before major events such as merger, separation, reorganization, equity
transfer, joint venture (cooperation), transfer of property rights, shareholding reform, foreign investment, substantial increase
in debt financing, Party B shall ask for Party A’s written consent in advance;

 

Article
7:     Event of default and management

 

		7.1	It will be deemed as occurrence of event of default if Party B is
under any one of the following circumstances:

 

		7.1.1	Violates the obligations stipulated in Article 6.2.1 hereof, provides
false conditions or conceal the true important conditions from Party A, and fails to coordinate with Party A’s investigation,
examination and inspection;

 

		7.1.2	Violates the obligations stipulated in Article 6.2.2 hereof, fails
to accept or evade from Party A’s supervision on its usage of credit funds and relevant production, operation and financial
activities;

 

		7.1.3	Violates the obligations stipulated in Article 6.2.3 hereof, fails
to use the loan and/or other credits according to this Agreement and the purpose agreed in a specific contract, or fails to comply
with Party A’s requirements related to the payment management of loan funds;

 

		7.1.4	Violates the obligations stipulated in Article 6.2.4 hereof, fails
to fully repay the loan, advance and the principal and interest of other credit debts on schedule according to this Agreement and
each specific contract;

 

    4

     

    

 

		7.1.5	Violates the obligations stipulated in Article 6.2.5 hereof, arbitrarily
and unilaterally transfer the debts hereunder to a third person; or violates the obligations stipulated in Article 6.2.7 hereof
by not, in a timely manner manage or assert its creditor’s rights (to any party that is a debtor to Party B), or disposing
of major existing property for free or in other inappropriate manners;

 

		7.1.6	Violates the obligations stipulated in Article 6.2.6 hereof, upon
the occurrence of circumstance stipulated in such article, fails to inform Party A in time, or Party A fails to cooperate when
Party A asks Party B to strengthen the safeguard measure for the repayment of debts hereunder after knowing the said circumstance;

 

		7.1.7	Violates the obligations stipulated in Article 6.2.8 hereof, fails
to ask for the consent of Party A before the occurrence of such major events;

 

		7.1.8	Materially violates the representations and warranties of Party B
hereunder, and fails to make corrections within the grace period (if any) given by Party A;

 

		7.1.9	Fails to withdraw or use the loan as agreed herein, or fails to use
the fund of capital collection account as required by Party A, or fails to accept Party A's supervision, and fails to make correction
immediately as required by Party A;

 

		7.1.10	Major event of default occurs under the legal and effective contract
signed by and between Party B and other creditor of Party B, and it cannot be settled satisfactorily within three months as of
the date of default occurrence.

 

		7.1.11	During the credit period, Party B fails to properly go through business
term extension/prolongation formalities, causing the expiration of Party B's business term before the maturity date of credit period
as stipulated herein.

 

		7.1.12	Occurrence of other circumstances that Party A thinks they are damaging
the legal rights and interests of Party A.

 

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Article
8:     Applicable law and dispute settlement

 

		8.1	The conclusion, interpretation and dispute settlement of this Agreement will be governed by the
laws of the People's Republic of China, and the rights and interests of both parties are protected by the laws of the People's
Republic of China.

  

		8.2	If any dispute arises in the performance of this Agreement, both parties shall settle it through
amicable resolution. If resolution fails, either party may file a lawsuit to the people's court in the locality of Party A.

 

Article
9:     Agreement effectiveness

 

This Agreement
will become effective as of the date of signature by both parties, and will be invalid automatically until the expiry date of credit
period or the date on which all debts and other relevant expenses owed by Party B to Party A hereunder have been paid off (whichever
is later).

 

Article
10:    Supplementary provisions

 

This Agreement
is made in triplicate, Party A, Party B and bonding company hold one copy respectively, and all of them shall have
the same legal effect.

 

    6

     

    

 

(This page is the signature page)

 

	Party A: 	China Merchants Bank Co., Ltd. Beijing Branch (Seal)
	 	 
	
        Person chiefly in charge or authorized
        agent:

         

        (Signature/Seal): /s/ Sang Wei
	Sang Wei (Signature)
	 	 
	Party B:	Beijing REIT Technology Development Co., Ltd. (Seal)
	 	 
	
        Person chiefly in charge or authorized
        agent:

         

        (Signature/Seal): /s/ Li Henggang
	Li Hengfang (Seal)

 

Date of signature: June 7, 2017

 

 

7

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