Document:

EX-10.1

 Exhibit 10.1 
  

 
 December 19, 2013 

James E. Harris 
 Senior Vice-President and Chief Financial
Officer 
 Coca-Cola Bottling Co. Consolidated 
 4100 Coca-Cola
Plaza 
 Charlotte, NC 28211 
  

	Re:	Incidence Pricing Agreement 

 Dear Jamie: 

This letter confirms our plans to enter into an incidence pricing program (the “Program”) with Coca-Cola Bottling Co. Consolidated
(“Bottler”) starting in 2014 for the Term defined below. The Program described below applies only to concentrate that the Bottler purchases from CCNA for producing the beverages under the “Brands” listed in Attachment A
that ultimately will be sold as finished goods to your customers who resell the finished goods directly or indirectly to retailers and consumers who are located in the respective authorized territories for the Brands, as permitted in the respective
agreements between The Coca-Cola Company (“Company”) or by and through CCNA and the Bottler for the Brands (“Covered Sales”). The Program described below will not apply to concentrate that the Bottler purchases from CCNA that is
used to manufacture finished goods for resale to CCNA or to authorized Coca-Cola bottlers that are not owned and controlled by the Bottler (“Excluded Sales”). 

1. The Brands will include the following Company beverages that are bottler-produced: 

 

	 	•	 	All Sparkling beverages (e.g., Coca-Cola, diet Coke, Sprite, etc.) 

  

	 	•	 	FUZE Refreshments (Coldfill only) and Minute Maid Adult Refreshment (Coldfill only) 

 Aluminum bottles and all
TCCC products imported from Mexico in glass bottles will be excluded from the brands. 
 2. The Program shall be for a minimum of two (2) years
beginning on January 1, 2014, and shall end on December 31, 2015, unless terminated earlier by either party as permitted herein (the “Term”). Either party may terminate the Program effective at the end of any calendar year (i.e.,
on December 31) by giving not less than fifteen (15) days written notice to the other party prior to the end of such calendar year. In addition, Bottler may terminate this Agreement pursuant to Paragraphs 3 and/or 5.f below. 

3. During the Term, both parties temporarily waive the pricing provisions, including “most favored nations” provisions relating to pricing, if any,
for each of the Brands listed in Attachment A that are contained in the agreements between them for those Brands (the “Existing Contracts”), and both parties agree that the pricing for the Brands shall be governed by this Agreement
during the Term. In agreeing to this waiver, the parties acknowledge that Botter is relying on the fact that The Company by and through CCNA or Coca-Cola North America Group (collectively “CCNAG”) has offered this Program to all Coca-Cola
bottlers in the United States in substantially the same form and using substantially the same methodology as stated in this Agreement. If 

  
 Classified -
Confidential 

 
CCNAG offers a materially different incidence pricing program to any bottler, CCNAG will either make such program available to Bottler or Bottler may terminate this Program effective at the end
of the next calendar quarter by giving not less than thirty (30) days written notice to CCNAG. However, the parties acknowledge that Other Participating Bottlers (as defined below) will have different Incidence Rates and that such differences
shall not be deemed a material difference in incidence pricing programs. CCNAG will continue to publish prices for the Brands in accordance with the terms of the Existing Contracts, but such published prices shall be informational only and shall not
apply during the Term, unless this Agreement is terminated early as permitted in this Agreement. 
 4. During the Term, CCNAG will bill Bottler for
concentrate at the standard billing prices (“SBPs”) by Brand category that are communicated annually by CCNAG to Bottler. SBPs will change no more than once per year. At the end of each Program year, CCNAG shall be free to change the SBPs
for the next year by giving 30 days notice to Bottler. This is a billing price and does not reflect the incidence price (see Paragraph 5 below). CCNAG shall charge the same SBPs to every bottler that elects to participate in an incidence pricing
program substantially similar to this Program during the Term (“Other Participating Bottlers”), before taking account of any funding that Bottler or Other Participating Bottlers may elect to net pursuant to Paragraph 5.i below. 

5. Within 15 days after the end of each calendar quarter, i.e., March 31, June 30, September 30, and December 31, CCNAG will
calculate an effective “Incidence Pricing Revenue” (“IPR”) for each category, as follows. 
  

	 	a.	The Bottler will calculate its Dead Net Net Selling Income (“DNNSI”) during the preceding quarter for Covered Sales of each Brand and multiply the DNNSI by the “Incidence Rate” for that Brand to
yield an IPR for each Brand. The sum of these IPRs is the Total IPR for that quarter. 

  

	 	b.	“DNNSI” in general shall equal “Revenue less CCF/CMA/CTM/Rebates”. During the Program, the Bottler will use the same process to calculate DNNSI for all of the quarters of the program. Bottler will
not alter the process or definition of DNNSI during the Program. For auditing purposes, Bottler will provide copies (hard or electronic) of the results of their sales systems (e.g., Margin Minder) to CCNAG. 

 

	 	c.	New Government Legislation DNNSI Adjustment: 

 In the event that a Bottler enters into the
Program and has Covered Sales in geographies where the following items occur, an adjustment will be made to DNNSI for the change in: 
  

	 	1.	The increased or new handling fees in states where the law requires container deposits 

  

	 	2.	The new or expanded escheat tax taking in states with container deposit laws related to unclaimed bottle deposits that are required to be remitted to the state 

 

	 	3.	If a State adopts new container deposit laws 

 Bottler DNNSI can be adjusted to take into
account the addition on these items. 

  
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	 	d.	The starting Incidence Rate for the Brands shall be communicated by CCNAG to the Bottler at the beginning of the Program. Each bottler will have its own Incidence Rate, and this rate may vary across bottlers.

  

	 	e.	At the end of each year of the Program, CCNAG will review with the Bottler, and potentially adjust, Bottler’s Incidence Rate for the next year of the Program with the Bottler. CCNAG will give not less than
forty-five (45) days written notice of any changes to the Incidence Rate. 

  

	 	f.	In addition to the annual review of the Incidence Rate described in the preceding Paragraph 5.e, CCNAG may change the Incidence Rate at any time by giving not less than 90 days prior written notice to Bottler. Should
CCNAG give notice of its intent to change the Incidence Rate pursuant to this Paragraph 5.f, Bottler shall have the right to terminate this Program by giving written notice to CCNAG not less than 15 days prior to the date the change in Incidence
Rate is scheduled to take effect. 

  

	 	g.	In order to help inform the calculations and decisions for Paragraphs 5.e and 5.f above, the Bottler and CCNAG may mutually elect and agree to share yearly category P&L information to the Operating Income level with
each other. Based upon this information, CCNAG may use a variety of economic indicators such as Bottler Revenue Growth, GP margin, OI margin, and ROIC to inform, but not prescribe, potential adjustments to the Incidence Rate (e.g., keep IR same,
increase IR, or decrease IR) for each of the Brands stated in Paragraph 1. 

  

	 	h.	Should CCNAG add or change the formula or sweetener system for any Brand during the Term, CCNAG and the bottler will mutually determine whether to include the affected Brand in the Program or whether to exclude the
affected Brand and price it pursuant to the Existing Contracts. 

  

	 	i.	At the Bottler’s option, sales of the Brands to customers in the full service vending channel may be excluded from Covered Sales. If Bottler elects this option at outset of Program, may not be changed except by
mutual consent. 

 If the Bottler elects to exclude sales in the full service vending channel from Covered Sales under this
agreement, the Bottler will agree to provide CCNAG with a report periodically upon request detailing the volume and DNNSI of sales of Brands sold through the full service vending channel. The purpose of this report is to enable the financial
reconciliation process between CCNAG and the Bottler. Bottler shall provide this report within 10 days of the receipt of the request from CCNAG. Bottler shall also agree to supply CCNAG with the underlying detail of which customers comprise the
full service channel, and that the underlying categorization of full service customers shall remain consistent when reporting volume and DNNSI to CCNAG for the duration of this agreement. 

  
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 6. Settlement Process (as reflected in Attachment C): 

 

	 	a)	Settlement for Each Current Quarter: 

 See Paragraph 5 above for data requirements. The Bottler
and CCNAG shall reconcile the amounts that Bottler has actually paid to CCNAG for concentrate billed at the SBP for each Brand (the “Total Standard Pricing Revenue” or “Total SPR”) during the same period of current quarter,
against the Total IPR calculated above for current quarter. If the Total SPR is less than the Total IPR, the Bottler shall pay the difference to CCNAG no later than 30 days after the end of current quarter, if the Total SPR is more than the Total
IPR, CCNAG shall pay the difference to the Bottler no later than 30 days after the end of current quarter. 
  

	 	b)	Quarterly Retroactive Adjustment in Quarters 2 through 4 

 In order to make adjustments to
DNNSI that are not included in previous quarter(s)’s settlements but attributable to previous quarter(s) of current calendar year, and to adjust the settlement amount between the parties, Bottler shall provide CCNA , together with volume and
DNNSI numbers for current quarter, the year to date (“YTD”) volume and DNNSI numbers calculated according to Paragraph 5 above. 

In each Quarter 2, 3 and 4, Bottler and CCNA shall recalculate Total SPR, Total IPR for prior quarter(s) of current calendar year, as well as
the discrepancy between (the “Revised Incidence Pricing Settlement”) using the DNNSI number up to the end of the last quarter (i.e. the YTD DNNSI less DNNSI for current quarter). Any variance between the Revised Incidence Pricing
Settlement and the settlement amount that the parties have actually paid up to last quarter will be included in and paid together with the settlement amount for current quarter as calculated under Paragraph 5(a) above. 

 

	 	c)	Final Retroactive Adjustment 

 At the end of Quarter 1 of the following calendar year, Bottler
and CCNAG shall make final adjustment to Incidence Pricing settlement for the entire current calendar year (.e.g., the final settlement adjustment for year 2014 will be calculated at the end of Q1 2015). Bottler and CCNAG shall recalculate Total
SPR, Total IPR as well as the Revised Incidence Pricing Settlement, using the DNNSI number for the entire current calendar year. Any variance between the Revised Incidence Pricing Settlement and the settlement amount that the parties have actually
made during current calendar year will be paid no later than 30 days after the end of Quarter 3 for CCF/CTM adjustments of the following calendar year. Thereafter, no further adjustment to the Incidence Pricing settlement shall be made for current
calendar year. 
 7. Both parties shall be entitled to review the other’s calculations and all relevant underlying records upon written
request. 

  
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 8. Within two weeks of the end of every quarter, the Bottler will provide CCNAG package level
data for volume, gross revenue, and CCF/CTM/CMA/Rebates for all of the Brands covered in the Program. 
 9. The Bottler will make changes as
needed to the views in its Route Settlement System (e.g., Margin Minder or other mutually agreeable system) to reflect the effective COGS under this Program, and will use reasonable efforts to ensure that its key decision makers will have access to
the incidence pricing view in Margin Minder or other system, or make such other changes that may be reasonably required in order to ensure that Bottler employees with financial decision-making responsibility have access to Bottler’s effective
COGS under this Program when making decisions in the performance of their duties. 
 10. The parties will meet on a timely basis to jointly
develop a mutually agreeable reporting and review process. 
 11. Bottler will share with CCNAG in a timely fashion its annual and quarterly
forecasting information for the average prices it expects to charge for each of the Brands by package, to the extent that Bottler maintains such information in the ordinary course of its business. 

12. The purpose of this Program is to determine the feasibility and effectiveness of implementing an alternative pricing system.
Characteristics of this Program may or may not be extended past the end of the Program specified in Paragraph 2, and any such extensions must be achieved by mutual agreement. 

13. Attached as Attachment B is a form of Confidentiality Agreement that shall govern this Agreement and the information shared between
the parties pursuant to this Agreement. 
 14. Rights of Reversion. If either Bottler or CCNAG terminates this agreement as permitted in
Paragraphs 2, 3, and 5.f above, the parties will reconcile Total SPR against Total IPR as provided in paragraph 6 through the end of the Term. Beginning on the first day of the quarter following the expiration or termination of this Agreement, CCNAG
will resume charging prices to Bottler for the Brands in accordance with the terms of the Existing Contracts. Nothing in this Agreement shall be deemed to modify, change or amend the interpretation of the Existing Contracts or the parties’
respective rights and obligations thereunder following termination or expiration of this Agreement. 

  
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 If this letter accurately sets forth our understanding and agreement, please sign below and return one copy to me
for our files. 
  

	
	Sincerely,
	 /s/ Brian Hannafey

	 Brian Hannafey

	
	 Vice President, Franchise Relations Finance

 
 Coca-Cola North America Group

 AGREED this 20 day of Dec, 2013: 
  

			
	BOTTLER
		
	By:	 	 /s/ James E. Harris

			
		
	Printed Name:	 	 James E. Harris

			
		
	Title:	 	 CFO

 cc: 

  
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 ATTACHMENT A 

North America Brands 
  

	
	 Product

	
	 Coca-Cola

	 CF Coca-Cola

	 Vanilla Coke

	 Cherry Coca-Cola

	
	 Diet Coke

	 CF diet Coke

	 Coke Zero

	 CF Coke Zero

	 Diet Coke with Splenda

	 Vanilla Coke Zero

	 Diet Cherry Coke

	 Cherry Coke Zero

	 Diet Coke with Lime

	
	 TAB

	
	 Sprite

	 Diet Sprite Zero

	 Diet Sprite Zero*

	 Sprite Cranberry

	 Sprite Zero Cranberry

	
	 Fresca

	 Fresca Peach

	 Fresca Black Cherry

	
	 Pibb Xtra

	 Pibb Zero

	 Pibb Zero*

	
	 Mello Yello

	 Mello Yello Zero

  
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	 Product

	 Barq’s:

	 Root Beer

	 French Vanilla Crème Soda

	 Caffeine Free Root Beer

	 Red Crème Soda

	 Diet Root Beer

	 Diet French Vanilla Crème Soda

	 Diet Red Creme Soda

	
	 Fanta:

	 Orange

	 Grape

	 Grapefruit

	 Strawberry

	 Pineapple

	 Apple

	 Apple*

	 Fruit Punch

	 Peach

	 Club Soda

	 Tonic Water

	 Fanta Zero Orange

	 Fanta Zero Orange*

	
	 Delaware Punch

	 Delaware Punch*

	
	 Red Flash

	
	 Northern Neck:

	 Ginger Ale

	 Diet Ginger Ale

	
	 Seagram’s

	 Ginger Ale

	 Diet Ginger Ale

	 Raspberry Ginger Ale

	 Diet Raspberry Ginger Ale

	 Club Soda

	 Tonic Water

	 Diet Tonic Water

	 Sparkling Water Key Lime Seltzer

	 Sparkling Water White Peach Seltzer

	 Sparkling Water Orange Citrus Seltzer

	 Sparkling Black/Raspberry Seltzer

	 Non Flavored Seltzer

  
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Confidential 

	
	 Product

	 Fuze Iced Tea Lemon

	 Fuze Strawberry Lemonade

	 Fuze Half Tea Half Lemonade

	 Fuze Iced Tea Strawberry Red Tea

	 Fuze Iced Tea Honey Ginseng Green Tea

	 Fuze Iced Tea Honey Ginseng Green Tea*

	 Fuze Berry Punch

	 Fuze Sweet Tea

	 Fuze Diet Lemon Tea

	
	 Minute Maid Refreshment

	 Lemonade

	 Fruit Punch

	 Pink Lemonade

	 Orangeade

	 Peach

	 Light Lemonade

	 Light Raspberry Passion

	 Light Orangeade

 Note: 
 Asterisk
(*) The product has 2 different yields and/or throws 
  

			
	Fanta	  	
	 Fanta Zero Orange
	  	KIT OR/D-1005.50 4UN
	 Fanta Zero Orange*
	  	KIT OR/D-1005.52 4UN
	 Fanta Apple
	  	KIT AP-410.00 4UN
	 Fanta Apple*
	  	KIT AP-492.00 4UN / KIT AP-500.00 4UN
		
	Sprite Zero	  	
	 diet Sprite Zero
	  	KIT SP/D-58.06 4UN
	 diet Sprite Zero*
	  	KIT SP/D-137.50 4UN
		
	Pibb	  	
	 Pibb Zero
	  	KIT MP/D-10.50 16UN (NEW)
	 Pibb Zero*
	  	KIT MP/D-12.50 16UN
		
	Delaware Punch	  	
	 Delaware Punch
	  	KIT CH-15.00 20UN
	 Delaware Punch*
	  	KIT CH-149.00 20UN

  
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 ATTACHMENT B 

Confidentiality Agreement 

THIS CONFIDENTIALITY AGREEMENT is made and entered into as of the 19th day of December 2013, by and between Coca-Cola Bottling Company of
BOTTLER (“Bottler”) and THE COCA-COLA COMPANY, a Delaware corporation, by and through its Coca-Cola North America Group (“KO”), under the following circumstances: 

A. KO has requested that Bottler allow KO access to certain of Bottler’ data systems to obtain nonpublic information concerning sales of
beverages by Bottler and its affiliates in North America, including its commonwealths, territories and possessions. This information will include (without limitation) the identity of individual accounts and show all products sold under license from
KO, sales volume, invoice prices, allowances and discounts. The information described in the preceding sentence is referred to in this Agreement as the “Confidential Information.” 

B. Bottler is willing to and agrees to allow certain KO employees to have such access to the Confidential Information, provided that KO and KO
employee serving as Vice President, Coca-Cola North America Group Franchise Relations Finance or such position with comparable responsibilities (“Employee”) agree to the restrictions on the use and disclosure of the Confidential
Information as provided in this Agreement. 
 NOW THEREFORE, in consideration of the foregoing and for other good and valuable legal
consideration, the parties agree as follows: 
 1. Non-disclosure. KO agrees, and agrees to cause the Employee, to use the Confidential
Information only for the internal purposes of KO, and, except as permitted by Section 5 of this Agreement, shall make no disclosure whatsoever of any Confidential Information. 

2. Restricted Access. KO agrees, and agrees to cause Employee, to restrict access to the Confidential Information (in any form) only to other
KO employees meeting all of the following criteria: (a) the KO employee has a need to know this information; and (b) the KO employee has been approved by an authorized KO official (i.e., above Director level) to have access to the
Confidential Information. 
 3. No Warranty. The Confidential Information to which KO and the Employee is being allowed access is prepared
in the ordinary business operations of Bottler and is believed to reflect correctly the records of Bottler and its affiliates at the date it is entered into the data system, but any express or implied warranty that the Confidential Information is
accurate or complete is specifically disclaimed by Bottler. Bottler shall have no liability to KO or the Employee for KO’s or the Employee’s use of or reliance on the Confidential Information. 

  
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Confidential 

 4. Insider Trading. KO acknowledges, and agrees to cause the Employee to acknowledge, that the
information could, under some circumstances, be material nonpublic information relating to Bottler, and that the use of such information in the purchase or sale of the securities of Bottler could, under those circumstances, subject the person
responsible for the purchase or sale of such securities to liability under relevant securities laws and regulations. 
 5. Exclusions from
Confidential Information. The following information shall not be considered as “Confidential Information” under this Agreement: 

(a) Information which is, or subsequently may become, generally available to the public as a matter of record through no fault of KO or the
Employee; 
 (b) Information which KO can show was previously known to it as a matter of record at the time of receipt; 

(c) Information which may subsequently be obtained from a third party (i) who received the information lawfully and from a disclosing
party who was under no duty to keep such information confidential; and (ii) who obtained the information through no fault of KO or the Employee; 

(d) Information which may subsequently be developed by KO or the Employee independently of any disclosure of Confidential Information from
Bottler hereunder; 
 (e) Information which is required to be disclosed pursuant to the requirement of a government agency or by operation
of law, subsequent to prior consultation with Bottler’ legal counsel. 
 6. Legal Process. KO agrees, and agrees to cause Employee, to
notify Bottler immediately if either becomes subject to legal process compelling them to disclose Confidential Information, so that Bottler may seek a protective order or other appropriate remedy. If legally compelled to disclose the Confidential
Information, KO agrees and agrees to cause Employee to furnish only that portion of the Confidential Information which is legally required to be disclosed. 

7. Termination. Either party may terminate this Agreement for any reason by giving not less than ninety (90) days prior written notice.

  
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Confidential 

 8. Effect on Other Agreements. Nothing in this Agreement shall be deemed to modify, amend or
waive any rights either party may have under any bottling or distribution agreement between the parties. 
 IN WITNESS WHEREOF, the parties
have executed this Agreement as of the date first above written. 
  

					
	Coca-Cola Bottling Company of BOTTLER
			
		 	By:	 	/s/ James E. Harris
		 		 	  

 
					
	
	THE COCA-COLA COMPANY by and through its Coca-Cola North America Group
		
	Signature:	 	/s/ Brian Hannafey
		 	  

		
		 	Authorized Signing Officer
		
	Printed Name:	 	 Brian Hannafey

		
		 	VP Finance Franchise Relations
		
		 	Authorized Signing Officer
		
	Signature:	 	  

		
		 	Witness
		
	Printed Name:	 	  

		
		 	Witness

  
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Confidential 

 ATTACHMENT C 

Settlement Process 
  

 
  

	*	Note: CTM closeout will occur by Q3 of the following year. 

  
 Classified -
ConfidentialEX-10.1

 Exhibit 10.1 
  

 
 December 18, 2013 

Mr. Alan Cormier 
 Dear Alan: 

It is a distinct pleasure to offer you the position of Senior Vice President and General Counsel of ModusLink Global Solutions, Inc. (“ModusLink” or
the “Company”) accordingly to the terms and conditions of this offer letter agreement (the “Agreement”). In this capacity you will be a member of the Company’s Executive Leadership Team and will report directly to me with
responsibility for day to day management of legal matters relating to the operations of the Company’s primary business (“ModusLink Supply Chain Business”). For the avoidance of doubt, it is understood and agreed that any
Securities and Exchange Commission (“SEC”) reporting will be the responsibility of SP Corporate Services (“Steel Partners”) and any SEC investigations will be the responsibility of the Company’s Board of Directors. At any
point, your employment may be transferred from the Company to SP Corporate Services and you may be assigned to report to the General Counsel of Steel Partners to provide legal services primarily to the Company as described above but also for Steel
Partners’ Shared Services group. Such transfer and assignment shall not constitute a termination of your employment, and the benefits described below shall continue to be provided without interruption, acceleration or other change. 

Your base salary will be $10,576.93, paid bi-weekly, which equates to $275,000 on an annual basis. You will be eligible to participate in the Company’s
Executive Management Incentive Plan (the “EMIP”) with a target bonus of fifty percent (50%) of your base salary. For fiscal year 2014, which ends on July 31, 2014 (“FY14”), your bonus will be pro-rated based on the
portion of FY14 in which you are employed. The actual bonus payments, if any, will be subject to the terms and conditions of the EMIP. All salary and bonus payments are subject to normal deductions and withholdings. 

In addition, on your full time employment start date (the “Option Grant Date”), you will be granted an option to purchase shares of ModusLink common
stock (the “Option”) with a grant date fair value of $16,500. This Option will be awarded under the Company’s 2010 Incentive Award Plan (the “Plan”) and will be priced at the closing price of ModusLink’s common stock
(during normal trading hours) on the Option Grant Date. Provided you remain employed by the Company or Steel Partners on each vesting date, the vesting schedule of the Option shall be as follows: 25% of the shares underlying the option shall vest
and become exercisable on the first anniversary of the Option Grant Date and 1/48th of the shares underlying the option shall vest and become exercisable on each monthly anniversary date of the Option Grant Date starting on the 13th monthly
anniversary date of the Option Grant Date, so that the option becomes fully vested and exercisable on the fourth anniversary of the Option Grant Date. 

 You will also be eligible for a performance based restricted stock grant (“PBRS”) in FY14 awarded under
the Plan with a target of $38,500 in accordance with the Company’s FY14 Performance Based Stock Plan (the “2014 PBRS Plan”). 
 The Option
and the PBRS award described above will each be subject to all terms, limitations, restrictions and termination provisions set forth in the Plan, the 2014 PBRS Plan and in the separate option and restricted stock agreements (which will be based upon
the Company’s standard forms of option and restricted stock agreement) that will be executed to evidence the grant of such Options and award of restricted stock. You will also be required to execute the Company’s standard form of
Non-Competition Agreement as a condition of ModusLink granting you an option to purchase ModusLink common stock, awarding you shares of ModusLink restricted stock and employing you. Additionally, as a condition of employment with the Company, you
will be required to execute the Company’s standard form of Non-Disclosure and Developments Agreement. 
 In addition, you will be provided a monthly
car allowance in the amount of $1,000, which will be treated for tax purposes as additional compensation to you. As an employee of the Company, you also will be entitled to vacation in accordance with the Company’s vacation policies and will
participate in any and all benefit programs, other than any severance arrangement, that the Company establishes and makes generally available to its employees from time to time, provided you are eligible under (and subject to all provisions of) the
plan documents governing those programs. A summary of our benefits is enclosed and details of the plans and coverage offered will be reviewed with you in orientation on your first day of employment. 

You will be an employee at will, meaning that either you, or the Company, may terminate your employment at any time and for any or no reason, with or without
notice. The Company will enter into an Executive Severance Agreement with you effective on the first day of your employment. Such agreement will provide in the event of termination without cause, or your termination for good reason, for severance
payments equating to fifty percent (50%) of your then current annualized base salary, payable in installments over a period of six (6) months following the termination date. Such severance payments shall not be payable in the event of your
transfer to Steel Partners nor upon a sale of the ModusLink Supply Chain Business, provided in either case you receive an offer of employment to a position substantially comparable to the position, with the duties, described in this letter.
The Company will also enter into an Indemnification Agreement with you effective on the first day of your employment. 
 You represent and warrant that
(i) you have advised the Company in writing of any agreement relating to non-competition, non-solicitation or confidentiality between you and your previous employer, (ii) you are not a party to or bound by any other employment agreement,
non-compete agreement or confidentiality agreement with any other person or entity which would be violated by 
 your acceptance of this position or which
would interfere in any material respect with the performance of your duties with the Company and (iii) you will not use any confidential information or trade secrets of any person or party other than the Company in connection with the
performance of your duties with the Company. 
 This offer and your employment is contingent upon (1) your successful completion of the Company’s
drug screen, (2) the Company’s satisfactory completion of a background check, including a criminal background check, and (3) your providing proper documentation of your right to work in the United States, as required by law. 

 Please confirm your acceptance of this position by signing one copy of this letter and returning it to me. As we
have discussed, your start date will be December 23, 2013. We may request that you provide part-time consulting services to the Company prior to your start date, subject to your availability and agreement upon terms for such services. 

By separate mailing we will forward you the following documents: (i) an Employment Eligibility Verification Form (Form I-9) and the list of acceptable
documents which are required to complete this form, (ii) Massachusetts Tax Form, (iii) W-4, (iv) Direct Deposit Form (if you would like to have your pay check directly deposited to a bank account), (v) the Company’s Code of
Conduct, (vi) the Company’s standard form of Non-Competition Agreement, (vii) the Company’s standard form of Non-Disclosure and Developments Agreement, and (viii) a copy of ModusLink’s Policy on Trading of Securities
and Public Disclosures. Each of these will need to be signed on or before your start date and you may fax them as provided below, or bring copies with you on your start date. 

If you choose to fax the documents, please fax a copy of your signed offer letter and all the other documents to 781-663-5045 and bring the originals with you
on your first day. If you wish to overnight the original documents, please mail one copy of your signed offer letter and the entire enclosed package to ModusLink Global Solutions, Inc., 1601 Trapelo Road, Suite 170, Waltham, MA 02451,
Attention: Kathy Betts. 
 This offer letter constitutes the entire agreement between you and the Company and supersedes all prior offers, both verbal and
written. This offer automatically expires as of the close of business (5:00 p.m., Boston time) on December 19, 2013. This letter does not constitute a contract of employment or impose on the Company any obligation to retain you as an employee
for any set amount of time. 
 Alan, we are very pleased by the prospect of your addition to our team, and we are confident that you will make a significant
contribution to our future success! 
 Sincerely, 
 /s/ John
Boucher 
 John Boucher 
 President and Chief Executive Officer

 Agreed and accepted: 
  

					
			
	/s/ Alan Cormier	 	  
	 	12/20/2013
	Alan Cormier	 		 	Date

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