Document:

Waiver, Consent and Amendment

 Exhibit 10.1 
 Execution Version 
 WAIVER, CONSENT AND AMENDMENT, dated as of
November 14, 2012 (this “Waiver”), to the Credit Agreement, dated as of May 6, 2011 (the “Credit Agreement”), between iPayment, Inc., a Delaware corporation (the “Company”), iPayment
Holdings, Inc., a Delaware corporation (“Holdings”), the other Guarantors (as defined therein), the Lenders (as defined therein) and JPMorgan Chase Bank, N.A., as Administrative Agent, L/C Issuer and Swingline Lender. 

WHEREAS, as described in the Current Report on Form 8-K dated November 5, 2012 (File Number 000-50280) (the “8-K”),
the Company will be restating certain financial statements and in connection with such restatement, a Default has occurred under certain representations and warranties of the Credit Agreement (the “Affected Representations and
Warranties”) and certain covenants and conditions of the Credit Agreement (the “Affected Covenants”). 

WHEREAS, the Borrower has requested that the Lenders agree to waive the breach of such Affected Representations and Warranties and the
failure to comply with such Affected Covenants and any Default or Event of Default arising therefrom. Subject to the terms and conditions set forth herein, each of the Lenders party hereto have agreed to grant such requests of the Borrower.

 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows: 
 1. Defined Terms. Unless otherwise defined herein, capitalized terms which are
defined in the Credit Agreement are used herein as therein defined. 
 2. Waiver and Consent. (a) Subject to and in
reliance on the representation and warranty to be made pursuant to paragraph 2(b) below, the Lenders hereby waive (i) any Default or Event of Default arising from the Company’s breach of the representations and warranties contained in
Section 6.05(a) or 6.05(c) of the Credit Agreement or of any other Affected Representations and Warranties, in each case arising prior to the date of this Waiver and consisting of, resulting from or relating in any respect to the re-audit,
revision or restatement of any of the financial statements delivered by Holdings, the Borrower or any of its Subsidiaries (including, without limitation, any misstatement therein or in any certificate, the fair presentation of the financial
condition of the Borrower and its Subsidiaries, representation or warranty or any disclosure, in each case, relating thereto and any error, defect or deficiency in accounting procedures, maintenance of books or records and accounts or the
application of accounting principles reflected thereby or relating thereto) for the following periods: (x) the fiscal years ended December 31, 2008, 2009, 2010 and 2011, (y) the interim quarters within the fiscal years described in
the preceding clause (x) and (z) the quarters ended March 31, 2012 and June 30, 2012 (the financial statements described in clauses (x), (y) and (z), in each case related to or associated with the matters and events
described in the 8-K, whether or not 

 
actually specified in the 8-K, collectively, the “Restated Financials”), (ii) any Request for Credit Extension or Credit Extension under the Credit Agreement after the
occurrence and during the continuance of any such Default or Event of Default or (iii) any failure to comply with any covenant or other obligation under Section 7.03(a) of the Credit Agreement or with any other Affected Covenant that
became required to be performed or observed under any of such provisions by reason of the occurrence and continuance of any such Default or Event of Default; provided that, for the avoidance of doubt, nothing in this clause (a) shall be
deemed to constitute a waiver of any breach of Section 8.11 of the Credit Agreement with respect to the information set forth in the Restated Financials or any Default or Event of Default resulting from any such breach. 

(b) The Lenders hereby agree that, notwithstanding the provisions of Sections 7.01(b) and 7.02(a) of the Credit Agreement, the unaudited
financial statements required to be delivered under Section 7.01(b) for the Borrower’s quarterly period ended September 30, 2012 and the documents required by Section 7.02(a) to be delivered concurrently therewith need not be
delivered prior to February 1, 2013 (the date on which such financial statements are delivered, the “Extended Delivery Date”). On the Extended Delivery Date, (x) the Borrower will deliver the Restated Financials and
(y) a Responsible Officer of the Borrower shall certify that the representations and warranties of the Borrower and each other Loan Party contained in Article 6 of the Credit Agreement or any other Loan Document (other than Section 6.05(e)
of the Credit Agreement or any similar representation in any other Loan Document), or which are contained in any document furnished at any time under or in connection therewith shall be true and correct in all material respects on and as of such
date, except to the extent that such representations and warranties specifically refer to an earlier date or earlier period, as the case may be, in which case they shall be true and correct in all material respects as of such earlier date or earlier
period, as the case may be and except that for purposes of this clause (b), the representations and warranties contained in subsections (a) and (c) of Section 6.05 of the Credit Agreement shall be deemed to refer to the statements
delivered on the Extended Delivery Date and, in the case of the financial statements (including the Restated Financials) furnished pursuant to Section 7.01(b) of the Credit Agreement, the representations contained in Section 6.05(a) of the
Credit Agreement, as modified by this clause, shall be qualified by the statement that such financial statements are subject to the absence of footnotes and year-end audit adjustments. 

(c) The Lenders hereby agree that until the Extended Delivery Date, notwithstanding the provisions of Section 5.02(a) and 5.02(b) of
the Credit Agreement, absent any Default or Event of Default that may occur after the date hereof that has not been waived by this Waiver, each Revolving Lender shall continue to honor Requests for Credit Extension delivered in compliance with
Section 2.02(a), 2.03(b) or 2.04(b) (as applicable) of the Credit Agreement; provided that the aggregate principal amount of all Revolving Borrowings and Swing Line Borrowings made and Letters of Credit issued shall not exceed
$58,000,000 prior to the Extended Delivery Date which amount, for the 

  
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avoidance of doubt, shall include any Revolving Loans, Swing Line Loans and Letters of Credit outstanding as of the date hereof. 

3. Amendment. The parties hereto agree that the Credit Agreement is hereby amended as follows: 

(a) Section 5.02(a) is hereby amended by inserting “(other than Section 6.05(e) or any similar representation in any other
Loan Document)” after the words “Article 6 or any other Loan Document”. 
 4. Effectiveness. This Waiver
shall become effective as of the date hereof once each of the following conditions has been satisfied: 
 (a) the Administrative
Agent has received this Waiver, executed and delivered by the Administrative Agent, the L/C Issuer, the Swingline Lender, the Loan Parties and the Required Lenders; 
 (b) the Administrative Agent (or its applicable Affiliate) shall have received: (i) a consent fee for the account of each Lender that consents to this Waiver by executing and delivering this Waiver
to the Administrative Agent appropriately completed on or prior to 4:00 p.m., Eastern time, on November 14, 2012, in an amount equal to 0.25% of the sum of such Lender’s Revolving Commitment, and, without duplication, any outstanding Loans
and L/C Obligations under the Credit Agreement and (ii) all fees and reasonable out-of-pocket expenses required to be paid to the Administrative Agent (or any of its Affiliates) in connection with this Waiver in accordance with
Section 11.04 of the Credit Agreement or as otherwise agreed with the Administrative Agent; and 
 (c) the Borrower shall
have paid all reasonable fees, charges and disbursements of counsel to the Administrative Agent (or any of its Affiliates) to the extent invoiced on or prior to the date hereof. 

5. Representations and Warranties. Each of the Loan Parties hereby represents and warrants that, after giving effect to the
provisions of this Waiver and except as modified or waived hereby, (a) each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents are true and correct in all material respects on and as of the date
hereof, except to the extent that such representations and warranties specifically refer to an earlier date or earlier period, as the case may be, in which case they shall be true and correct in all material respects as of such earlier date or such
earlier period, as the case may be, and (b) no Default or Event of Default has occurred and is continuing. 
 6.
Continuing Effect of the Credit Agreement. This Waiver is limited solely to the matters set forth herein and shall not constitute an amendment or waiver of 

  
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any other provision of the Credit Agreement not expressly referred to herein or be construed as a waiver or consent to any further or future action on the part of any Loan Party that would
require the consent of the Lenders or the Administrative Agent. Except as expressly waived hereby, the provisions of the Credit Agreement are and shall remain in full force and effect. This Waiver is a Loan Document. 

7. Miscellaneous Provisions. The provisions of Sections 11.03, 11.04, 11.10, 11.11, 11.12, 11.14 and 11.15 of the Credit Agreement
shall apply with like effect as to this Waiver. 
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 IN WITNESS WHEREOF, the parties hereto have caused this Waiver to be duly executed and
delivered by their proper and duly authorized officers as of the day and year first above written. 
  

					
	BORROWER:
	
	iPAYMENT, INC., a Delaware corporation
		
	By:	 	/s/ Philip J. Ragona
		 	Name:	 	Philip J. Ragona
		 	Title:	 	Senior Vice President and General Counsel
	
	GUARANTORS:
	
	iPAYMENT, HOLDINGS, INC., a Delaware corporation
		
	By:	 	/s/ Philip J. Ragona
		 	Name:	 	Philip J. Ragona
		 	Title:	 	Senior Vice President and General Counsel

  
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	 iPAYMENT OF CALIFORNIA, LLC,
 a Tennessee limited liability company
 CARDPAYMENT SOLUTIONS, L.L.C.,

a Delaware limited liability company
 iPAYMENT
ACQUISITION SUB LLC,
 a Delaware limited liability company
 TS ACQUISITION SUB, LLC,
 a Delaware limited liability company

PETROLEUM CARD SOLUTIONS, LLC
 (f/k/a PCS
Acquisition Sub, LLC),
 a Delaware limited liability company
 NPMG ACQUISITION SUB, LLC,
 a Delaware limited liability company

iFUNDS CASH SOLUTIONS, LLC,
 a Nevada limited
liability company
 MSC ACQUISITION SUB, LLC,
 a Delaware limited liability company
 CAMBRIDGE ACQUISITION SUB, LLC,

a Delaware limited liability company
 FLAGSHIP
MERCHANT SERVICES, LLC
 (f/k/a iScan Solutions, LLC),
 a Delaware limited liability company iADVANTAGE, LLC,
 a Delaware limited liability
company
 iPMT TRANSPORT, LLC,
 a
Delaware limited liability company
 iPAYMENT SALES, LLC,
 a Delaware limited liability company

		
	By:	 	IPAYMENT, INC., as sole Member
		
	By:	 	/s/ Philip J. Ragona
		 	Name:	 	Philip J. Ragona
		 	Title:	 	Senior Vice President and General Counsel

  
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	 1ST NATIONAL PROCESSING, INC., a Nevada corporation
 E-COMMERCE EXCHANGE, INC., a Delaware corporation
 iPAYMENT OF MAINE, INC., a Delaware
corporation
 CARDSYNC PROCESSING, INC., a California corporation
 QUAD CITY ACQUISITION SUB, INC., a Delaware corporation
 ONLINE DATA CORP., a Delaware
Corporation

		
	By:	 	/s/ Philip J. Ragona
		 	Name:	 	Philip J. Ragona
		 	Title:	 	Senior Vice President and General Counsel

  
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	 JPMORGAN CHASE BANK, N.A., as Administrative Agent, L/C Issuer, Swingline Lender, and Lender

		
	By:	 	/s/ Ann B. Kerns
		 	Name:	 	Ann B. Kerns
		 	Title:	 	Vice President

  
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	 ABCLO 2007-1, Ltd.

		
	By:	 	AllianceBernstein L.P.
		
	By:	 	/s/ Michael Sohr
		 	Name:	 	Michael Sohr
		 	Title:	 	Senior Vice President

  
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	 Pacifica CDO V LTD

		
	By:	 	Alcentra NY, LLC, as investment advisor
		
	By:	 	/s/ Robert Davis
		 	Name:	 	Robert Davis
		 	Title:	 	Senior Vice President

  
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	Prospero CLO II B.V.
		
	By:	 	Alcentra NY, LLC, as investment advisor
		
	By:	 	/s/ Robert Davis
		 	Name: Robert Davis
		 	Title:   Senior Vice President

  
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	Veritas CLO II, LTD
		
	By:	 	Alcentra NY, LLC, as investment advisor
		
	By:	 	/s/ Robert Davis
		 	Name: Robert Davis
		 	Title:   Senior Vice President

  
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	 AllianceBernstein Institutional Investments -
         High Yield Loan Portfolio

		
	By:	 	AllianceBernstein L.P.
		
	By:	 	/s/ Michael Sohr
		 	Name: Michael Sohr
		 	Title:   Senior Vice President

  
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	ASF1 Loan Funding LLC
		
	By:	 	Citibank N.A.
		
	By:	 	/s/ Lynette Thompson
		 	Name: Lynette Thompson
		 	Title:   Director

  
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	 BABSON CLO LTD. 2005-I
 BABSON CLO LTD. 2005-III
 BABSON CLO LTD. 2007-I

BABSON CLO LTD. 2012-I
 CLEAR LAKE CLO,
LTD.
 ST. JAMES RIVER CLO, LTD.
 SUMMIT
LAKE CLO, LTD.

		
	By:	 	 Babson Capital Management LLC as
 Collateral Manager

  

			
		
	By:	 	/s/ Arthur J. McMahon, Jr.
		 	Name: Arthur J. McMahon, Jr.
		 	Title:   Managing Director

  

			
	 BABSON CAPITAL FLOATING RATE
 INCOME MASTER FUND, L.P.

		
	By:	 	 Babson Capital Management LLC as
 Investment Manager

  

			
		
	By:	 	/s/ Arthur J. McMahon, Jr.
		 	Name: Arthur J. McMahon, Jr.
		 	Title:   Managing Director

  

			
	 JFIN CLO 2007 LTD.

JFIN CAPITAL LLC

		
	By:	 	Jefferies Finance LLC as Collateral Manager

  

			
		
	By:	 	/s/ Kevin Stephens
		 	Name: Kevin Stephens
		 	Title:   Closing Manager

  
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	JFIN CLO 2012 LTD.
		
	By:	 	Jefferies Finance LLC as Portfolio Manager

  

			
		
	By:	 	/s/ Kevin Stephens
		 	Name: Kevin Stephens
		 	Title:   Closing Manager

  
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	DIAMOND LAKE CLO, LTD.
		
	By:	 	 Babson Capital Management LLC as
 Collateral Servicer

 
			
		
	By:	 	/s/ Arthur J. McMahon, Jr.
		 	Name: Arthur J. McMahon, Jr.
		 	Title:   Managing Director

  
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	Bank of America, N.A.
		
	By:	 	/s/ Thomas C. Kilcrease, Jr.
		 	 Name: Thomas C. Kilcrease, Jr.
 Title:   Senior Vice President

  
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	BlueMountain CLO 2011-1 Ltd
		
	By:	 	 BLUEMOUNTAIN CAPITAL

MANAGEMENT Its Collateral

Manager

 
			
		
	By:	 	/s/ Jack Chau
		 	Name: Jack Chau
		 	Title:   Associate

  
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	BlueMountain CLO II, LTD
		
	By:	 	 BLUEMOUNTAIN CAPITAL

MANAGEMENT Its Collateral

Manager

 
			
		
	By:	 	/s/ Jack Chau
		 	 Name: Jack Chau
 Title:
  Associate

  
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	BlueMountain CLO III, LTD
		
	By:	 	 BLUEMOUNTAIN CAPITAL

MANAGEMENT Its Collateral

Manager

 
			
		
	By:	 	/s/ Jack Chau
		 	Name: Jack Chau
		 	Title:   Associate

  
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	Castle Garden Funding
		
	By:	 	/s/ Thomas Flannery
		 	Name: Thomas Flannery
		 	Title:   AUTHORIZED SIGNATORY

  
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	Flagship CLO V
		
	By:	 	 Deutsche Investment Management
 Americas, Inc. (as successor in interest
 to Deutsche Asset Management, Inc.),

As Collateral Manager

 
			
		
	By:	 	/s/ Eric S. Meyer
		 	Name: Eric S. Meyer
		 	Title:   Managing Director
		
	By:	 	/s/ Joseph Tavolieri
		 	Name: Joseph Tavolieri
		 	Title:   Vice President

  
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	Flagship CLO VI
		
	By:	 	 Deutsche Investment Management
 Americas, Inc.
 As Collateral Manager

 
			
		
	By:	 	/s/ Eric S. Meyer
		 	Name: Eric S. Meyer
		 	Title:   Managing Director
		
	By:	 	/s/ Joseph Tavolieri
		 	Name: Joseph Tavolieri
		 	Title:   Vice President

  
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	DWS Floating Rate Fund
		
	By:	 	 Deutsche Investment Management

Americas, Inc.
 Investment
Advisor

		
	By:	 	/s/ Eric S. Meyer
		 	Name: Eric S. Meyer
		 	Title:   Managing Director
		
	By:	 	/s/ Joseph Tavolieri
		 	Name: Joseph Tavolieri
		 	Title:   Vice President

  
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	 MT. WHITNEY SECURITIES INC.,
 as Assignee

		
	By:	 	 Deutsche Investment Management

Americas, Inc.
 As Manager

		
	By:	 	/s/ Eric S. Meyer
		 	Name: Eric S. Meyer
		 	Title:   Managing Director
		
	By:	 	/s/ Joseph Tavolieri
		 	Name: Joseph Tavolieri
		 	Title:   Vice President

  
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	CMFG Life Insurance Company
		
	By:	 	Deutsche Investment Management
		 	Americas, Inc.
		 	As Subadvisor
		
	By:	 	/s/ Eric S. Meyer
		 	Name: Eric S. Meyer
		 	Title:   Managing Director
		
	By:	 	/s/ Joseph Tavolieri
		 	Name: Joseph Tavolieri
		 	Title:   Vice President

  
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	DWS Ultra-Short Duration Fund
		
	By:	 	Deutsche Investment Management
		 	 Americas, Inc.
 Investment
Advisor

		
	By:	 	/s/ Eric S. Meyer
		 	Name: Eric S. Meyer
		 	Title:   Managing Director
		
	By:	 	/s/ Joseph Tavolieri
		 	Name: Joseph Tavolieri
		 	Title:   Vice President

  
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	 JPMORGAN CHASE BANK, N.A.,
 as Administrative Agent, L/C Issuer,
 Swingline Lender, and
Lender

		
	By:	 	 
		 	Name:
		 	Title:
	
	Eos Strategic Income Master Fund
		
	By:	 	/s/ Steven M. Friedman
		 	Name: Steven M. Friedman
		 	Title:   Managing Partner

  
 [Signature
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	 Advanced Series Trust – AST First Trust
 Balanced Target Portfolio

		
	By:	 	First Trust Advisors L.P., its investment manager
		
	By:	 	/s/ Scott Fries
		 	Name: Scott Fries
		 	Title:   Vice President

  
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	First Trust Senior Floating Rate Income
        Fund II
		
	By:	 	First Trust Advisors L.P., its investment manager
		
	By:	 	/s/ Scott Fries
		 	Name: Scott Fries
		 	Title:   Vice President

  
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	MC Credit Products DIP SMA, L.P.
		
	By:	 	 Fort Hill Investment Partners, its
 General Partner

		
	By:	 	/s/ Luke Gosselin
		 	Name: Luke Gosselin
		 	Title:   Managing Member

  
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	Aladdin Credit Offshore Fund II, L.P.
		
	By:	 	 Fort Hill Investment Partners, its
 General Partner

		
	By:	 	/s/ Luke Gosselin
		 	Name: Luke Gosselin
		 	Title:   Managing Member

  
 [Signature
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	Aladdin DIP Offshore Fund, L.P.
		
	By:	 	 Fort Hill Investment Partners, its
 General Partner

		
	By:	 	/s/ Luke Gosselin
		 	Name: Luke Gosselin
		 	Title:   Managing Member

  
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	Arch Investment Holdings III Ltd.
		
	By:	 	PineBridge Investments LLC
		 	As Collateral Manager
		
	By:	 	/s/ Steven Oh
		 	Name: Steven Oh
		 	Title:   Managing Director

  
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	Fire and Police Pension Fund, San Antonio
		
	By:	 	PineBridge Investments LLC
		 	Its Investment Manager
		
	By:	 	/s/ Steven Oh
		 	Name: Steven Oh
		 	Title:   Managing Director

  
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	Galaxy V CLO, LTD
		
	By:	 	PineBridge Investments LLC
		 	Its Collateral Manager
		
	By:	 	/s/ Steven Oh
		 	Name: Steven Oh
		 	Title:   Managing Director

  
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	Galaxy VI CLO, LTD
		
	By:	 	PineBridge Investments LLC
		 	Its Collateral Manager
		
	By:	 	/s/ Steven Oh
		 	Name: Steven Oh
		 	Title:   Managing Director

  
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	Galaxy VII CLO, LTD
		
	By:	 	PineBridge Investments LLC
		 	Its Collateral Manager
		
	By:	 	/s/ Steven Oh
		 	Name: Steven Oh
		 	Title:   Managing Director

  
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	Galaxy VIII CLO, LTD
		
	By:	 	PineBridge Investments LLC
		 	Its Collateral Manager
		
	By:	 	/s/ Steven Oh
		 	Name: Steven Oh
		 	Title:   Managing Director

  
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	Galaxy X CLO, LTD
		
	By:	 	PineBridge Investments LLC
		 	Its Collateral Manager
		
	By:	 	/s/ Steven Oh
		 	Name: Steven Oh
		 	Title:   Managing Director

  
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	Galaxy XI CLO, Ltd.
		
	By:	 	PineBridge Investments LLC
		 	Its Collateral Manager
		
	By:	 	/s/ Steven Oh
		 	Name: Steven Oh
		 	Title:   Managing Director

  
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	PineBridge Bank Loan Fund Ltd.
		
	By:	 	PineBridge Investments LLC
		 	Its Investment Manager
		
	By:	 	/s/ Steven Oh
		 	Name: Steven Oh
		 	Title:   Managing Director

  
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	 STICHTING PENSIOENFONDS VOOR
 HUISARTSEN

		
	By:	 	PineBridge Investments LLC
		 	Its Investment Manager
		
	By:	 	/s/ Steven Oh
		 	Name: Steven Oh
		 	Title:   Managing Director

  
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	Saturn CLO, Ltd.
		
	By:	 	PineBridge Investments LLC
Its Collateral Manager
		
	By:	 	/s/ Steven Oh
		 	Name: Steven Oh
		 	Title:   Managing Director

  
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	VALIDUS REINSURANCE LTD
		
	By:	 	PineBridge Investments LLC
Its Investment Manager
		
	By:	 	/s/ Steven Oh
		 	 Name: Steven Oh

Title:   Managing Director

  
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	 GE Capital Bank, f/k/a, GE Capital
 Financial Inc.

		
	By:	 	/s/ Heather Leigh Glade
		 	Name: Heather Leigh Glade
		 	Title:   Duly Authorized Signatory

  
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	 Global Leveraged Capital Credit
 Opportunity Fund I

		
	By:	 	Global Leveraged Capital Management,
LLC as Collateral Manager
		
	By:	 	/s/ Christian Giordano
		 	Name: Christian Giordano
		 	Title:   Principal

  
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	GoldenTree Loan Opportunities V, Limited
	
	By: GoldenTree Asset Management, LP
		
	By:	 	/s/ Karen Weber
		 	Name: Karen Weber
		 	Title:   Director – Bank Debt

  
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	GoldenTree Loan Opportunities IV, Limited
	
	By: GoldenTree Asset Management, LP
		
	By:	 	/s/ Karen Weber
		 	Name: Karen Weber
		 	Title:   Director – Bank Debt

  
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	GoldenTree Loan Opportunities III, Limited
	
	By: GoldenTree Asset Management, LP
		
	By:	 	/s/ Karen Weber
		 	Name: Karen Weber
		 	Title:   Director – Bank Debt

  
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	 ABS Loans 2007 Limited, a subsidiary of
 Goldman Sachs Institutional Funds II
 PLC

		
	By:	 	/s/ Kevin Owen
		 	 Name: Kevin Owen

Title:   Authorised Signatory

		
	By:	 	/s/ Cormac Bohan
		 	 Name: Cormac Bohan

Title:   Authorised Signatory

  
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	 GOLDMAN SACHS ASSET

        MANAGEMENT CLO, PUBLIC
         LIMITED COMPANY

	
	 By: Goldman Sachs Asset Manager, L.P.,
         as Manager

		
	By:	 	/s/ Vini Kukreta
		 	Name: Vini Kukreta
		 	Title:   VP

  
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	Northrop Grumman Pension Master Trust
		
	By:	 	 Goldman Sachs Asset Management,

L.P. solely as its investment advisor and
 not as
principal

		
	By:	 	/s/ Vini Kukreta
		 	Name: Vini Kukreta
		 	Title:   VP

  
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	Goldman Sachs Trust on behalf of the
		 	Goldman Sachs High Yield Floating Rate Fund
		
	By:	 	 Goldman Sachs Asset Management, L.P.
 solely as its investment advisor and
 not as principal

		
	By:	 	/s/ Vini Kukreta
		 	Name: Vini Kukreta
		 	Title:   VP

  
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	J. P. Morgan Whitefriars Inc.
		
	By:	 	/s/ Virginia R. Conway
		 	Name: Virginia R. Conway
		 	Title:   Attorney-in-Fact

  
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	LATITUDE CLO I, LTD
		
	By:	 	/s/ Kirk Wallace
		 	Name: Kirk Wallace
		 	Title:   Senior Vice President

  
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	LATITUDE CLO III, LTD
		
	By:	 	/s/ Kirk Wallace
		 	Name: Kirk Wallace
		 	Title:    Senior Vice President

  
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	MARATHON CLO II LTD.
		
	By:	 	 Marathon Asset Management L.P.

Its Collateral Manager

		
	By:	 	/s/ Jake Hyde
		 	Name: Jake Hyde
		 	Title:   Authorized Signatory

  
 [Signature
Page to Waiver and Consent] 

 
			
	MARATHON CLO IV LTD.
		
	By:	 	 Marathon Asset Management L.P.

Its Collateral Manager

		
	By:	 	/s/ Jake Hyde
		 	Name: Jake Hyde
		 	Title:    Authorized Signatory

  
 [Signature
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	Marlborough Street CLO, Ltd., as a Lender
		
	By:	 	 Edwards Wildman Palmer LLP,

Authorized Signatory

		
	By:	 	/s/ Authorized Signatory
		 	A Member of the Firm

  

			
	Jersey Street CLO, Ltd., as a Lender
		
	By:	 	 Edwards Wildman Palmer LLP,

Authorized Signatory

		
	By:	 	/s/ Authorized Signatory
		 	A Member of the Firm

  
 [Signature
Page to Waiver and Consent] 

 
			
	Post Advisory Group, LLC, not in its
		 	individual capacity but solely on behalf of the Post Limited Term High Yield Master Fund, L.P.
		
	By:	 	/s/ Sanije Perrett
		 	Name: Sanije Perrett
		 	Title:   Chief Operating Officer

  
 [Signature
Page to Waiver and Consent] 

 
			
	JNL/PPM America Floating Rate Income
		 	Fund, a series of the JNL Series Trust
		
	By:	 	PPM America, Inc., as sub-adviser
		
	By:	 	/s/ Chris Kappas
		 	Name: Chris Kappas
		 	Title:   Managing Director

  
 [Signature
Page to Waiver and Consent] 

 
			
	PPM GRAYHAWK CLO, LTD
		
	By:	 	PPM America, Inc., as Collateral Manager
		
	By:	 	/s/ Chris Kappas
		 	Name: Chris Kappas
		 	Title:   Managing Director

  
 [Signature
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	ROSEDALE CLO LTD
		
	By:	 	 Princeton Advisory Group, Inc.,

the Collateral Manager

		
	By:	 	/s/ Troy Isaksen
		 	Name: Troy Isaksen
		 	Title:   Portfolio Manager

  
 [Signature
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	Baptist Health South Florida, Inc.
		
	By:	 	 Seix Investment Advisors LLC,

as Advisor

	
	 RidgeWorth Funds - Seix Floating Rate
         High Income Fund

		
	By:	 	 Seix Investment Advisors LLC,

as Subadvisor

	
	as Lenders
		
	By:	 	/s/ George Goudelias
		 	Name: George Goudelias
		 	Title:   Managing Director

  
 [Signature
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	THE BANK OF NOVA SCOTIA
		
	By:	 	/s/ Richard Taylor
		 	Name: Richard Taylor
		 	Title:   Authorized Signatory

  
 [Signature
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	ROYAL BANK OF CANADA
		
	By:	 	/s/ William J. Caggiano
		 	Name: William J. Caggiano
		 	Title:   Authorized Signatory

  
 [Signature
Page to Waiver and Consent] 

 
			
	Trimark Floating Rate Income Fund,
	 Invesco Canada Ltd., in its capacity as
 manager of the Trimark Floating Rate
 Income Fund

		
	By:	 	/s/ Gary Lew
		 	Name: Gary Lew
		 	Title:   Portfolio Manager

  
 [Signature
Page to Waiver and Consent] 

 
			
	UBS LOAN FINANCE LLC
		
	By:	 	/s/ Kenneth Chin
		 	Name: Kenneth Chin
		 	Title:   Director
		
	By:	 	/s/ Joselin Fernandes
		 	Name: Joselin Fernandes
		 	Title:   Associate Director

  
 [Signature
Page to Waiver and Consent] 

 
			
	Venture IX CDO, Limited
		
	By:	 	 its investment advisor, MJX Asset
 Management LLC

  

			
	By:	 	/s/ Hans Christensen
		 	Name: Hans Christensen
		 	Title:   Chief Investment Officer

  
 [Signature
Page to Waiver and Consent] 

 
			
	Venture V CDO Limited
		
	By:	 	 its investment advisor, MJX Asset
 Management, LLC

  

			
	By:	 	/s/ Hans Christensen
		 	Name: Hans Christensen
		 	Title:   Chief Investment Officer

  
 [Signature
Page to Waiver and Consent] 

 
			
	Venture VI CDO Limited
		
	By:	 	 its investment advisor, MJX Asset
 Management, LLC

  

			
	By:	 	/s/ Hans Christensen
		 	Name: Hans Christensen
		 	Title:   Chief Investment Officer

  
 [Signature
Page to Waiver and Consent] 

 
			
	Venture VII CDO Limited
		
	By:	 	its investment advisor, MJX Asset
		 	Management, LLC
		
	By:	 	/s/ Hans Christensen
		 	Name: Hans Christensen
		 	Title:   Chief Investment Officer

  
 [Signature
Page to Waiver and Consent] 

 
			
	Venture VIII CDO, Limited
		
	By:	 	its investment advisor, MJX Asset
		 	Management, LLC
		
	By:	 	/s/ Hans Christensen
		 	Name: Hans Christensen
		 	Title:   Chief Investment Officer

  
 [Signature
Page to Waiver and Consent] 

 
			
	Virtus Senior Floating Rate Fund
		
	By:	 	/s/ Kyle Jennings
		 	Name: Kyle Jennings
		 	Title:   Managing Director

  
 [Signature
Page to Waiver and Consent] 

 
			
	Virtus Multi-Sector Short Term Bond Fund
		
	By:	 	/s/ Kyle Jennings
		 	Name: Kyle Jennings
		 	Title:   Managing Director

  
 [Signature
Page to Waiver and Consent] 

 
			
	WhiteHorse IV Ltd
		
	By:	 	WhiteHorse Capital Partners, L.P.
		 	as Investment Manager
		
	By:	 	WhiteRock Asset Advisors, LLC
		 	as General Partner
		
	By:	 	/s/ Ethan Underwood
		 	Name: Ethan Underwood
		 	Title:   Manager

  
 [Signature
Page to Waiver and Consent]Transition Agreement

 Exhibit 10.1 
 TRANSITION AGREEMENT 
 This Transition Agreement
(“Agreement”), dated January 25, 2013, is entered into by and between Thomas Nightingale (“Executive”) and ModusLink Global Solutions, Inc. (the “Company”). 

1. Resignation of Employment and Positions. Executive has informed the Company that he intends to resign his employment with the
Company effective January 31, 2013 (the “Effective Date”). As of the Effective Date, Executive hereby irrevocably resigns all officer and director positions that he holds with the Company and its direct and indirect subsidiaries and
affiliates, and the Company accepts such resignations. 
 2. Compensation. In consideration for Executive’s
agreements and covenants under Sections 3, 4 and 5 hereof, and subject to his compliance with Sections 3 and 4 of this Agreement and the requirements and provisions of Sections 5 and 6 of this Agreement, the Company agrees as follows: 

(a) the Company shall pay to Executive the sum of $50,000 per month, less any tax or other legally required withholdings, for six
(6) months following the Effective Date (the “Payments”). The Payments will be made in bi-weekly installments in accordance with the Company’s normal payroll schedule beginning with the payroll scheduled for February 8,
2013; 
 (b) the Company shall pay the Executive in monthly installments the difference between the premium Executive is
required to pay for COBRA continuation benefits under the same type of coverage he (and if applicable his dependents) had immediately prior to the Effective Date and the amount Executive would have paid as an active employee of the Company for nine
(9) months, or if earlier, the date Executive no longer receives COBRA coverage (“COBRA Payments”); and 
 (c)
the Company shall waive its right to seek or receive repayment of any of the relocation benefits or cash sign-on bonus that Executive received as part of his initial employment pursuant to that certain Offer Letter by and between the Company and
Executive dated November 21, 2011. The Payments, COBRA Payments and the amounts forgiven under this Section 3(c) collectively being referred to as the “Benefits”. 
 In accordance with the Company’s normal pay practices for payment of wages upon the conclusion of employment, Executive shall be paid all wages and accrued and unused vacation days through the
Effective Date. Additionally, all equity awards unvested on the Effective Date shall terminate as of the Effective Date in accordance with their terms. Any vested awards which Executive holds on the Effective Date shall be exercisable in accordance
with their terms. Otherwise, Executive acknowledges and agrees that as a result of his resignation he is not entitled to any other compensation from the Company, including but not limited any severance under the Executive Severance Agreement dated
December 12, 2011 by and between Executive and the Company (the “Severance Agreement”). 

  
 1 

 3. Transition, Cooperation and Consultation. Executive agrees that he shall continue
to perform his duties and responsibilities for the Company through the Effective Date, and shall transition his duties and responsibilities to such individuals as a representative of the Board of Directors shall indicate. Additionally, at the
request of the Company, and to the extent not requiring a time commitment that interferes with Executive’s subsequent full-time business endeavors, for a period of six months following the Effective Date Executive agrees to cooperate and
provide services to the Company on a consulting basis with respect to legal and operational matters involving the Company about which Executive has or may have personal knowledge, including reasonable cooperation in the professional transition of
those matters for which he was responsible and involved in during his employment with the Company and any such matters which may arise after the Effective Date. Executive shall not be entitled to any additional compensation for such services.
However, the Company shall reimburse Executive for reasonable out of pocket expenses incurred in connection with the performance of such services in accordance with the Company’s standard expense reimbursement policies. 

4. Covenants 
 (a) Non-Competition Agreement. Executive reaffirms and agrees to abide by all covenants and agreements set forth in the Non-Competition Agreement dated November 21, 2011 entered into by and between
the Company and Executive, as amended to date (the “Non-Compete Agreement”). 
 (b) No
Disparagement/Communications. Executive will not disparage the Company, its subsidiaries and affiliates as well as their directors, officers, agents, attorneys, employees, stockholders, representatives, partners or members, to third parties or
the public. The Company’s current officers and members of its current Board of Directors shall not, at any time following the date of this Agreement, disparage the Executive. Nothing in this Section shall be construed to limit the ability
of Executive or the Company’s officers or members of its Board of Directors to give truthful testimony pursuant to valid legal process, including but not limited to, a subpoena, court order or a government investigative matter. 

(c) Return of Company Property. On or prior to February 4, 2013, Executive understands and agrees that he will return all Company
property, including but not limited to, all keys to Company property, Company credit cards and access cards, any computers and related devices, all information contained on a Company computer or related device, and the originals and all copies
(whether on paper, disk, tape, or in another form) of all information that Executive has about the Company’s business, customers, suppliers, employees, and agents. 
 (d) Confidential Information. At all times Executive shall keep secret and retain in strictest confidence, and shall not use for his benefit or the benefit of others, all confidential matters relating to
the Company’s business and the business of any of its subsidiaries and affiliates, learned by the Executive during his employment with the Company 

  
 2 

 
(the “Confidential Company Information”), and shall not disclose such Confidential Company Information to anyone outside of the Company except with the Company’s express written
consent and except for Confidential Company Information which is at the time of receipt or thereafter becomes publicly known through no wrongful act of the Executive or is received from a third party not under an obligation to keep such information
confidential and without breach of this Agreement. 
 5. Releases and Covenant not to Sue. 

(a) The Benefits are contingent upon (i) Executive executing and delivering to the Company this Agreement (ii) Executive
executing and delivering to the Company a release of claims in substantially the form attached hereto as Exhibit A (the “Release”) following the Effective Date and (iii) Executive not revoking either this Agreement or the
Release. 
 (b) In consideration of the promises made by the Company in this Agreement, Executive agrees that he, on behalf of
himself and any past, present or future heirs, executors, administrators, or assigns, hereby irrevocably and unconditionally releases and holds harmless the Company and each of the Company’s agents, directors, officers, partners, members,
employees, representatives, attorneys and affiliated companies, divisions, subsidiaries and parents (and agents, directors, officers, partners, members, employees, representatives and attorneys of such affiliates), and its and their predecessors,
successors, heirs, executors, administrators and assigns, and all persons acting by, through, under or in concert with any of them (collectively “Releasees”), or any of them, from any and all actions, causes of action, suits, debts,
charges, complaints, promises, claims, demands, losses, liabilities and obligations of any nature whatsoever, in law or equity, known or unknown, suspected or unsuspected, fixed or contingent which Executive ever had, now has, or he or his heirs,
executors, administrators or assigns hereafter may claim to have against each or any of the Releasees (hereinafter, the “Claims”), arising from or relating in any way to Executive’s employment relationship with the Company or the
cessation of that employment relationship, whether the Claims arise from any alleged violation by the Company of any federal, state or local statutes, ordinances or common law, and whether based on contract, tort, or statute or any other legal or
equitable theory of recovery. Such Claims include, without limitation, any Claims for severance or vacation or other benefits, unpaid wages, salary or incentive payment, breach of contract, tort, fraud, misrepresentation, defamation, libel,
harassment, retaliation, violation of public policy, wrongful dismissal or discharge, breach of the implied covenant of good faith and fair dealing, and employment discrimination under any applicable federal, state or local statute, provision, order
or regulation, including but not limited to, Claims arising under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866, the Equal Pay Act, the Americans with Disabilities Act, the Fair Labor Standards Act, the Employee Retirement
Income Security Act, the Family Medical Leave Act, the Massachusetts Fair Employment Rights Act; (k) the Annotated Laws of Massachusetts at Part I, Title XXI, Chapter 149 and Claims for damages or other remedies of any sort, including, without
limitation, compensatory damages, punitive damages, injunctive relief and attorneys’ fees. 

  
 3 

 (c) Executive agrees not to sue, commence, assert, bring or file in any court or other
tribunal, in any jurisdiction, any suit, action, litigation, complaint, cross-complaint, counterclaim, third-party complaint, petition or other pleading or proceeding, or otherwise seek affirmative relief against any Releasee on account of any and
all Claims released pursuant to Section 5(b) hereof. Executive intends in granting this Release that it shall be effective as a bar to each and every such Claim, and expressly consents that this Release shall be given full force and effect
according to its terms and provisions, including those relating to unknown and unsuspected Claims, if any (notwithstanding any federal, state or local law that expressly limits the effectiveness of a general release of unknown, unsuspected and
unanticipated Claims), as well as those relating to any other Claims described or implied above. Executive further agrees that in the event any Releasing Party brings any Claim in which any Releasing Party seeks damages against any Releasee or in
the event any Releasing Party seeks to recover against any Releasee in any Claim brought by a governmental agency on behalf of any Releasing Party, this Release shall serve as a complete defense to such Claims. Executive understands and agrees that
this Release and the transactions contemplated hereby are not in any way to be interpreted as admissions by any Releasee that any Releasing Party has any viable Claims against any Releasee. Executive represents and warrants that there has been, and
there will be, no assignment or other transfer of any right or interest in any Claims released pursuant to this Release, and Executive hereby agrees to indemnify and hold each Releasee harmless from and against any Claims, costs, expenses and
attorney’s fees directly or indirectly incurred by any of the Releasees as a result of any person or entity asserting any right or interest pursuant to Bishop’s assignment or transfer of any such Claims. 

(d) Executive understands and agrees that Executive’s employment with the Company and the cessation of that employment may have
caused injuries or damages, or given rise to claims for damages, the existence of which and the consequences of which are now unknown but which may become known in the future. EXECUTIVE NEVERTHELESS INTENDS TO AND DOES HEREBY RELEASE ALL CLAIMS FOR
ALL INJURIES, DAMAGES, OR CLAIMS OF WHATEVER TYPE OR NATURE, WHETHER NOW KNOWN OR UNKNOWN THAT AROSE OR MAY ARISE IN ANY WAY OR TO ANY DEGREE OUT OF ANY ACTIONS BY THE RELEASEES PRIOR TO THE EFFECTIVE DATE OF THIS AGREEMENT, IT BEING THE
PARTIES’ INTENT TO RELEASE THE RELEASEES FROM LIABILITY TO THE FULLEST EXTENT PERMITTED BY LAW. 
 (e) Notwithstanding
anything else herein to the contrary, this Agreement shall not affect: (i) the Company’s obligations under any employee benefit plan, program or arrangement (including, without limitation, obligations to the Executive under any stock
option, stock award or agreements or obligations under any retirement plan); (ii) rights to indemnification the Executive may have under any directors and officers liability insurance, the Company’s Bylaws or Articles of Incorporation and
the Indemnification Agreement between the Executive and the Company; (iii) rights Executive may have as a shareholder, of the Company; (iv) claims for unemployment compensation pursuant to the terms of applicable state law, as to which the
Company agrees not to oppose any such claims; (v) Executive’s right to bring to the attention of the Equal Employment Opportunity Commission or the Massachusetts Commission Against Discrimination claims of discrimination; provided,
however, that Executive does release his right to secure any damages for alleged discriminatory treatment; or (vi) any claims that cannot be waived by law. 

  
 4 

 (f) Executive hereby waives any right to recover damages, costs, attorneys’ fees, and
any other relief in any proceeding or action brought against the Releasees by any other party, including without limitation the Equal Employment Opportunity Commission and the Massachusetts Commission Against Discrimination, or other administrative
agency, on Executive’s behalf asserting any claim, charge, demand, grievance, or cause of action released by Executive herein. 
 6. Should Executive attempt to challenge the enforceability of this Agreement, as a further limitation on any right to make such a challenge, Executive shall initially submit to the Company the full
amount of any Payments and COBRA Payments previously provided to Executive in connection with this Agreement plus interest at the standard statutory rate, and invite the Company to retain such monies and agree with Executive to cancel this
Agreement. In the event the Company accepts this offer, it shall retain such monies and this Agreement shall be canceled. In the event the Company does not accept such offer, it shall so notify Executive and shall place such monies into an
interest-bearing escrow account pending resolution of the dispute between Executive and the Company as to whether this Agreement shall be set aside and/or otherwise rendered unenforceable. 

7. In addition to all other available legal or equitable remedies, if (i) Executive is found to have breached the covenants
contained in Sections 4 or 5 of this Agreement, or (ii) based on facts not known to the Company on the Effective Date, the Company later discovers that it could have terminated the Executive’s employment for Cause (as defined in the
Severance Agreement), then the Executive shall be obligated to return all but $100 of the Payments to the Company within five business days following written demand by the Company. Nothing contained in this Agreement shall interfere with the
Company’s rights or obligations to recover amounts paid to the Executive under Section 304 of the Sarbanes-Oxley Act of 2002. 
 8. This written Agreement supersedes any prior written or verbal adjustment of this matter, including the Severance Agreement and constitutes a complete resolution of all Claims against the Releasees;
provided, however, this Agreement does not supersede the Non-Compete Agreement (as amended to date), the Indemnification Agreement by and between the Company and Executive dated March 26, 2012 and the Nondisclosure and Developments Agreement by
and between the Company and Executive dated November 21, 2011, which are incorporated herein by reference. There may be no modification of this Agreement except in writing signed by all parties. If any of the provisions of this Agreement are
found null, void, or inoperative, for any reason, the remaining provisions will remain in full force and effect. The prevailing party in any action or proceeding between the Company and Executive, whether by suit, arbitration, or otherwise, as to
the rights or obligations under this Agreement shall be entitled to all costs incurred in connection therewith, including reasonable attorneys’ fees and expert fees. 
 9. Except for an action seeking injunctive relief, all disputes, controversies, or claims based upon, relating to, or arising from Executive’s employment by the Company or the

  
 5 

 
terms, interpretation, performance, breach, or arbitrability of this Agreement (other than workers’ compensation claims) shall be settled through final and binding arbitration. Unless
Executive and the Company mutually agree otherwise, the arbitration shall be conducted by a single neutral arbitrator before the Judicial Arbitration and Mediation Service (“JAMS”), in accordance with its applicable rules. The arbitration
shall be commenced by filing a demand for arbitration with JAMS within fourteen (14) days after the filing party has given notice of such breach to the other party. Judgment on the award the arbitrator renders may be entered in any court having
jurisdiction over the parties. Arbitration may be compelled and enforced in accordance with the Federal Arbitration Act, 9 U.S.C. §1, et seq. Arbitration shall be conducted in Boston, Massachusetts with right of discovery in accordance
with the Massachusetts Rules of Civil Procedure. Each party shall be responsible for his, her or its own attorneys’ or representatives’ fees, unless the arbitrator finds that an award of attorneys’ fees is appropriate. 

10. This Agreement and the rights and obligations hereunder shall be governed by, and construed and interpreted in all respects in
accordance with, the laws of the Commonwealth of Massachusetts. 
 11. Executive agrees and understands that the execution of
this Agreement shall not constitute or be construed as an admission by the Company of any liability to, or of the validity of any Claim whatsoever by Executive. The Company specifically denies any liability to Executive on the part of itself, its
directors, officers, agents, partners, members, employees and representatives. 
 12. Executive acknowledges that Executive has
been advised by the Company to seek legal and financial advice regarding the effect of this Agreement, prior to signing it. By affixing his initials hereafter, Executive acknowledges that Executive has either: 

(a) Knowingly waived Executive’s right to seek legal advice and is signing this Agreement without obtaining such counsel; or

 (b) Obtained legal advice and is signing this Agreement after consulting with independent counsel. 

Executive further acknowledges that he has been given at least twenty-one (21) days to consider whether or not to sign this
Agreement. 
 13. Executive has the right to revoke this Agreement within seven (7) days of signing
it. To revoke the Agreement, Executive must both send a written letter by certified mail to Peter L. Gray at 1601 Trapelo Road, Suite 170, Waltham, Mass. 02451 to inform the Company of the revocation. This Agreement shall be effective on the eighth
(8th) day following Executive’s execution of
this Agreement, provided it has not been revoked as provided in this Section 13 (the “Release Effective Date”). If Executive does not sign this Agreement within fifty (50) days of the Effective Date, or revokes this Agreement, he
will not receive the Benefits described in Section 2 above. 

  
 6 

 14. Executive and the Company acknowledge that they have read the above thirteen
(13) Sections and this Section 14 and fully understand the terms, nature, and effect of this Separation and Release Agreement, which they voluntarily execute in good faith and deem to be fair and equitable. 

 

							
	Thomas Nightingale	 		 	ModusLink Global Solutions, Inc.
	(“Executive”)	 		 		 	
				
	/s/ Thomas Nightingale	 		 	By:	 	/s/ Peter L. Gray
	Date: January 25, 2013	 		 	Its:	 	Executive Vice President, Chief Administrative Officer and General Counsel
		 		 	Date:	 	January 25, 2013

  
 7 

 EXHIBIT A 

RELEASE AGREEMENT 
 As
required pursuant to Section 5(a) of that certain Transition Agreement (“Transition Agreement”), dated January     , 2013, entered into by and between Thomas Nightingale (“Executive”) and ModusLink Global
Solutions, Inc. (the “Company”), Executive freely and voluntarily agrees to enter into and be bound by this Release Agreement (the “Release”): 
 1. Release and Covenant not to Sue. 
 (a) In consideration of the promises
made by the Company in the Transition Agreement, Executive agrees that he, on behalf of himself and any past, present or future heirs, executors, administrators, or assigns, hereby irrevocably and unconditionally releases and holds harmless the
Company and each of the Company’s agents, directors, officers, partners, members, employees, representatives, attorneys and affiliated companies, divisions, subsidiaries and parents (and agents, directors, officers, partners, members,
employees, representatives and attorneys of such affiliates), and its and their predecessors, successors, heirs, executors, administrators and assigns, and all persons acting by, through, under or in concert with any of them (collectively
“Releasees”), or any of them, from any and all actions, causes of action, suits, debts, charges, complaints, promises, claims, demands, losses, liabilities and obligations of any nature whatsoever, in law or equity, known or unknown,
suspected or unsuspected, fixed or contingent which Executive ever had, now has, or he or his heirs, executors, administrators or assigns hereafter may claim to have against each or any of the Releasees (hereinafter, the “Claims”), arising
from or relating in any way to Executive’s employment relationship with the Company or the separation of that employment relationship, whether the Claims arise from any alleged violation by the Company of any federal, state or local statutes,
ordinances or common law, and whether based on contract, tort, or statute or any other legal or equitable theory of recovery. Such Claims include, without limitation, any Claims for severance or vacation or other benefits, unpaid wages, salary or
incentive payment, breach of contract, tort, fraud, misrepresentation, defamation, libel, harassment, retaliation, violation of public policy, wrongful dismissal or discharge, breach of the implied covenant of good faith and fair dealing, and
employment discrimination under any applicable federal, state or local statute, provision, order or regulation, including but not limited to, Claims arising under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866, the Equal Pay
Act, the Americans with Disabilities Act, the Fair Labor Standards Act, the Employee Retirement Income Security Act, the Family Medical Leave Act, the Massachusetts Fair Employment Rights Act; (k) the Annotated Laws of Massachusetts at Part I,
Title XXI, Chapter 149 and Claims for damages or other remedies of any sort, including, without limitation, compensatory damages, punitive damages, injunctive relief and attorneys’ fees. 

(b) Executive agrees not to sue, commence, assert, bring or file in any court or other tribunal, in any jurisdiction, any suit, action,
litigation, complaint, cross-complaint, counterclaim, third-party complaint, petition or other pleading or proceeding, or otherwise seek affirmative relief against any Releasee on account of any and all Claims released pursuant to Section 1(a)
hereof. Executive intends in granting this Release that it shall be effective as a bar 

  
 8 

 
to each and every such Claim, and expressly consents that this Release shall be given full force and effect according to its terms and provisions, including those relating to unknown and
unsuspected Claims, if any (notwithstanding any federal, state or local law that expressly limits the effectiveness of a general release of unknown, unsuspected and unanticipated Claims), as well as those relating to any other Claims described or
implied above. Executive further agrees that in the event any Releasing Party brings any Claim in which any Releasing Party seeks damages against any Releasee or in the event any Releasing Party seeks to recover against any Releasee in any Claim
brought by a governmental agency on behalf of any Releasing Party, this Release shall serve as a complete defense to such Claims. Executive understands and agrees that this Release and the transactions contemplated hereby are not in any way to be
interpreted as admissions by any Releasee that any Releasing Party has any viable Claims against any Releasee. Executive represents and warrants that there has been, and there will be, no assignment or other transfer of any right or interest in any
Claims released pursuant to this Release, and Executive hereby agrees to indemnify and hold each Releasee harmless from and against any Claims, costs, expenses and attorney’s fees directly or indirectly incurred by any of the Releasees as a
result of any person or entity asserting any right or interest pursuant to Executive’s assignment or transfer of any such Claims. 
 (c) Executive understands and agrees that Executive’s employment with the Company and the separation of that employment may have caused injuries or damages, or given rise to claims for damages, the
existence of which and the consequences of which are now unknown but which may become known in the future. EXECUTIVE NEVERTHELESS INTENDS TO AND DOES HEREBY RELEASE ALL CLAIMS FOR ALL INJURIES, DAMAGES, OR CLAIMS OF WHATEVER TYPE OR NATURE, WHETHER
NOW KNOWN OR UNKNOWN THAT AROSE OR MAY ARISE IN ANY WAY OR TO ANY DEGREE OUT OF ANY ACTIONS BY THE RELEASEES PRIOR TO THE EFFECTIVE DATE OF THIS AGREEMENT, IT BEING THE PARTIES’ INTENT TO RELEASE THE RELEASEES FROM LIABILITY TO THE FULLEST
EXTENT PERMITTED BY LAW. 
 (d) Notwithstanding anything else herein to the contrary, this Agreement shall not affect:
(i) except as specifically provided in Section 2 of the Transition Agreement (which terms shall govern in such case), the Company’s obligations under any employee benefit plan, program or arrangement (including, without limitation,
obligations to the Executive under any stock option, stock award or agreements or obligations under any retirement plan); (ii) any rights to defense or indemnification the Executive may have under any directors and officers liability insurance,
the Company’s Bylaws or Articles of Incorporation, the Indemnification Agreement between Executive and the Company dated August 23, 2004 or Delaware state law; (iii) rights Executive may have as a shareholder, of the Company;
(iv) claims for unemployment compensation pursuant to the terms of applicable state law, as to which the Company agrees not to oppose any such claims; (v) Executive’s right to bring to the attention of the Equal Employment Opportunity
Commission or the Massachusetts Commission Against Discrimination claims of discrimination; provided, however, that Executive does release his right to secure any damages for alleged discriminatory treatment; or (vi) any claims that cannot be
waived by law. 

  
 9 

 (e) Executive hereby waives any right to recover damages, costs, attorneys’ fees, and
any other relief in any proceeding or action brought against the Releasees by any other party, including without limitation the Equal Employment Opportunity Commission and the Massachusetts Commission Against Discrimination, or other administrative
agency, on Executive’s behalf asserting any claim, charge, demand, grievance, or cause of action released by Executive herein. 
 2. Executive acknowledges that Executive has been advised by the Company to seek legal and financial advice regarding the effect of this Release, prior to signing it. By affixing his initials hereafter,
Executive acknowledges that Executive has either: 
 (a) Knowingly waived Executive’s right to seek legal advice and is
signing this Release without obtaining such counsel; or 
 (b) Obtained legal advice and is signing this Release after
consulting with independent counsel. 
 Executive further acknowledges that he has been given at least twenty-one (21) days
to consider whether or not to sign this Release. 
 3. Executive has the right to revoke this Release
within seven (7) days of signing it. To revoke the Agreement, Executive must both send a written letter by certified mail to ModusLink Global Solutions, Inc. 1601 Trapelo Road, Suite 170, Waltham, Mass. 02451, Attn: Peter L. Gray to inform the
Company of the revocation. This Release shall be effective on the eighth (8th) day following Executive’s execution of this Release, provided it has not been revoked as provided in this Section 3. 

4. This Release and the rights and obligations hereunder shall be governed by, and construed and interpreted in all respects in
accordance with, the laws of the Commonwealth of Massachusetts. 
 I acknowledge and agree that I have carefully read and fully understand all
of the provisions of this Release and that I voluntarily enter into this Release by signing below. Upon execution, I agree to deliver a signed copy of this Release to the General Counsel of the Company. 

 

			
	  

	Thomas Nightingale
		
	Date:	 	  

  
 10

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