Document:

Exhibit 10.1

 

ModusLink Global Solutions, Inc.

Restricted Stock Unit Agreement

Granted Under 2010 Incentive Award Plan 

AGREEMENT made as of the _____ day of
________, ______ (the “Grant Date”) between ModusLink Global Solutions, Inc., a Delaware corporation (the “Company”),
and _____________ (the “Participant”).

In consideration of the covenants and
agreements herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

1.Grant of RSUs.

The Company hereby grants to the Participant,
subject to the terms and conditions set forth in this Agreement and in the Company’s 2010 Incentive Award Plan (the “Plan”),
____________ restricted stock units (“Restricted Stock Units” or “RSUs”). Each Restricted Stock Unit represents
the right to receive one share of common stock, $0.01 par value, of the Company (“Common Stock”) upon vesting of such
Restricted Stock Unit. The Participant agrees that the RSUs shall be subject to vesting as set forth in Section 2 of this Agreement
and the restrictions on transfer set forth in Section 4 of this Agreement. Unless and until the RSUs will have vested in the manner
set forth in Section 2 hereof, Participant will have no right to payment of any such RSUs. Prior to actual payment of any vested
RSUs, such RSUs will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the
Company.

2.Vesting.

(a)One hundred percent (100%) of the RSUs will vest and become nonforfeitable on the earlier of: (i) the first anniversary
of the Grant Date, subject to Participant’s continued employment or services through the first anniversary date; (ii) the
Participant’s “involuntary separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(n))
with the Company other than for Cause (as defined in the Plan) and whether or not a Change in Control (as defined in the Plan)
has occurred; (iii) the Participant’s “separation from service” (within the meaning of Treasury Regulation Section
1.409A-1(h)) for “Good Reason” (as defined in Section 2(c) hereof) with the Company and whether or not a Change in
Control has occurred; (iv) the Participant’s separation from service due to a disability (within the meaning of Treasury
Regulation Section 1.409A-3(i)(4); or (v) the Participant’s death.

(b)Notwithstanding any contrary provision of this Agreement, upon Participant’s “separation from service”
(within the meaning of Treasury Regulation Section 1.409A-1(h)) with the Company for any reason other than pursuant to Section
2(a)(ii) through Section 2(a)(v) above, all then unvested RSUs subject to this Agreement will thereupon be automatically forfeited,
terminated and cancelled as of the applicable termination date without payment of any consideration by the Company, and Participant,
or Participant’s beneficiary or personal representative, as the case may be, shall have no further rights hereunder.

    	 

     

    

(c)For purposes of this Agreement, “Good Reason” means the occurrence of any of the following circumstances without
the Participant’s express written consent, unless such circumstances are fully corrected by the Company within 30 days of
the notice of separation given by the Participant in respect thereof: (i) a material diminution in Participant’s base
compensation; (ii) a material diminution in Participant’s authority, duties, or responsibilities; (iii) a material
change in the geographic location at which Participant must perform his duties; provided further that the Participant’s separation
from service shall not be considered to have been on account of a Good Reason unless the Participant provides the Company with
not less than 60 days’ advance written notice of separation delivered within 90 days of the initial occurrence of the condition
that is the basis for such Good Reason and the Company does not correct the condition in the time frame described above.

(d)For purposes of this Agreement, employment with the Company shall include employment with a parent or subsidiary of the
Company.

3.Payment upon Vesting.

As soon as administratively practicable
following the vesting of any RSUs pursuant to Section 2(a) hereof, but in no event later than sixty (60) days after such vesting
date, the Company shall issue to Participant a number of shares of Common Stock (either by delivering one or more certificates
for such shares or by entering such shares in book entry form, as determined by the Company in its sole discretion) equal to the
number of RSUs subject to this award that vest on the applicable vesting date, unless such RSUs terminate prior to the given vesting
date pursuant to Section 2(b) hereof.

4.Restrictions on Transfer.

No RSU or any interest or right therein
or part thereof shall be liable for the debts, contracts or engagements of the Participant or his successors in interest or shall
be subject to disposition by transfer, alienation, anticipation, pledge, hypothecation, encumbrance, assignment or any other means,
whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other
legal or equitable proceedings (including bankruptcy), any attempted disposition thereof shall be null and void and of no effect;
provided however, that this Section 4 shall not prevent transfers by will or by the applicable laws of descent and distribution.

5.Provisions of the Plan.

(a)This Agreement is subject to the provisions of the Plan, a copy of which is furnished to the Participant with this Agreement.

(b)In the event of any changes in capitalization of the Company effecting the number or type of outstanding shares of Common
Stock as a result of a stock dividend, stock split or otherwise, the Board shall make such equitable adjustments to the number
of RSUs awarded to the Participant, the shares subject to such RSUs as the Board deems appropriate in its discretion. Pursuant
to the terms of the Plan, upon the occurrence of a Business Combination (as defined in the Plan), the Board may provide that the
RSUs be assumed and all rights of the Company hereunder inure to the benefit of the Company’s successor.

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6.Withholding Taxes.

(a)The Participant acknowledges and agrees that the Company has the right to deduct from payments of any kind otherwise due
to the Participant any federal, state, local or other taxes of any kind required by law to be withheld with respect to the vesting
of the RSUs. The Participant shall satisfy such tax withholding obligations by either (i) making a cash payment to the Company
on the date of vesting of the RSUs, in the amount of the Company’s withholding obligation in connection with the vesting
of such RSUs, (ii) for U.S. taxpayers at the option of the Participant, and with and subject to the approval of the Committee (as
defined in the Plan), satisfy such tax withholding obligations by transferring to the Company, on each date on which RSUs vest
under this Agreement, such number of vested RSUs (or shares of Common Stock) as have a fair market value (calculated using for
each such RSU (or share of Common Stock) the last reported sale price of the common stock of the Company on the NASDAQ Global Market
(or such other market or exchange on which the Company’s Common Stock is then listed, if it is not then listed on the NASDAQ
Global Market) on the vesting date) equal to the amount of the Company’s tax withholding obligation in connection with the
vesting of such RSUs or (iii) such other method as is approved by the Company. To effect such delivery of the vested RSUs or shares
of Common Stock, the Participant hereby authorizes the Company to take any actions necessary or appropriate to transfer ownership
of such RSUs or to cancel any certificate(s) representing such Common Stock to the Company; and if the Company or its transfer
agent requires an executed stock power or similar confirmatory instrument in connection with such transfer or cancellation, the
Participant shall promptly execute and deliver the same to the Company.

(b)The Participant has reviewed with the Participant’s own tax advisors the federal, state, local and foreign tax consequences
of this investment and the transactions contemplated by this Agreement. The Participant is relying solely on such advisors and
not on any statements or representations of the Company or any of its agents. The Participant understands that the Participant
(and not the Company) shall be responsible for the Participant’s own tax liability that may arise as a result of the transactions
contemplated by this Agreement.

7.Miscellaneous.

(a)Rights of Stockholder; Dividends. No Participant shall, by virtue of any RSU, be entitled to vote in any Company
election, receive any dividend in respect of a RSU or exercise any other rights of a stockholder of the Company. RSUs shall not
confer upon any Participant any rights of a stockholder of the Company unless and until any such RSUs have vested and shares of
Common Stock have been distributed in respect of such RSUs.

(b)No Rights to Employment. The Participant acknowledges and agrees that the vesting of the RSUs pursuant to Section
2 hereof is earned only by continuing service as an employee at the will of the Company (not through the act of being hired or
being granted shares hereunder). The Participant further acknowledges and agrees that the transactions contemplated hereunder and
the vesting schedule set forth herein do not constitute an express or implied promise of continued engagement as an employee or
consultant for the vesting period, for any period, or at all.

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(c)Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity
or enforceability of any other provision of this Agreement, and each other provision of this Agreement shall be severable and enforceable
to the extent permitted by law.

(d)Waiver. Any provision for the benefit of the Company contained in this Agreement may be waived, either generally
or in any particular instance, by the Board of Directors of the Company.

(e)Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Company and the Participant
and their respective heirs, executors, administrators, legal representatives, successors and assigns, subject to the restrictions
on transfer set forth in Section 4 of this Agreement.

(f)Notice. All notices required or permitted hereunder shall be in writing and deemed effectively given upon personal
delivery or five days after deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed
to the other party hereto at the address shown beneath his or its respective signature to this Agreement, or at such other address
or addresses as either party shall designate to the other in accordance with this Section 7(f).

(g)Pronouns. Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine,
feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural, and vice versa.

(h)Entire Agreement. This Agreement and the Plan constitute the entire agreement between the parties, and supersedes
all prior agreements and understandings, relating to the subject matter of this Agreement.

(i)Amendment. This Agreement may be amended or modified only by a written instrument executed by both the Company and
the Participant.

(j)Governing Law. This Agreement shall be construed, interpreted and enforced in accordance with the internal laws of
the State of Delaware without regard to any applicable conflicts of laws.

(k)Section 409A. This award is intended to be exempt from or to comply with Section 409A of the Internal Revenue Code
of 1986, as amended (the “Code”) and the Department of Treasury regulations thereunder. If this award fails to be exempt
from Section 409A of the Code, and therefore deemed to be “deferred compensation” subject to Section 409A of the Code,
and if Participant is a “specified employee” (within the meaning set forth in Section 409A(a)(2)(B)(i) of the Code
and Treasury Regulation Section 1.409A-1((i)) as of the date of the Participant’s separation from service (within the meaning
of Treasury Regulation Section 1.409A-1(h)), then the issuance of any shares that would otherwise be made upon the date of the
separation from service or within the first six months thereafter will not be made on the originally scheduled dates and will instead
be issued in a lump sum on the date that is six months and one day after the date of such Participant’s separation from service,
with the balance of the shares issued thereafter in accordance with the original vesting and issuance schedule, but if and only
if such delay in the issuance of the shares is necessary to avoid the imposition of taxation in respect of the shares under Section
409A of the Code. Each such installment of shares shall be a “separate payment” for purposes of Treasury Regulation
Section 1.409A-2(b)(2). Notwithstanding anything to the contrary in this Agreement, the Company makes no representation hereunder
as to the particular tax treatment of the RSUs.

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IN WITNESS WHEREOF, the parties hereto
have executed this Agreement as of the day and year first above written.

	 	ModusLink Global Solutions, Inc.	 
	 	 	 
	 	 	 
	 	By:	
  

	 
	 	Name:	 	 
	 	Title	 	 
	 	 	 
	 	 	 
	 	
  

	 
	 	 	 
	 	 	 
	 	Address:	 
	 	 	 
	 	 	 
	 	 	 	 	 	 

 

 

    	5Exhibit 10.1 Form of Amendment of Warrant and Note, entered into as of September 29, 2017, between the Company and the Holders

 

SIGMA LABS, INC.

3900 Paseo del Sol

Santa Fe, New Mexico 87507

 

VIA EMAIL AND U.S. MAIL

 

September __, 2017

 

Re: Form of Amendment of Warrant and Note 

 

Ladies and Gentlemen:

 

Reference is made to the 10% Secured Convertible Note in the aggregate principal amount of $_______ and dated October 17, 2016 (the “Note”) issued to _______ by Sigma Labs, Inc. (“Sigma Labs”) and to the Common Stock Purchase Warrant dated October 17, 2016 (the “Warrant”) issued to _______ by Sigma Labs. This letter (the “Letter Agreement”) sets forth the agreement between _______ and Sigma Labs regarding the following matters in consideration of payment to _______ as set forth in Section A.3.

 

A.Amendment of the Note 

 

1.Effective as of the date of this Letter Agreement, the first sentence in the third full paragraph on page 1 of the Note is amended to read in full as follows: 

 

“FOR VALUE RECEIVED, the Company promises to pay to _______ or its registered assigns (the “Holder”), or shall have paid pursuant to the terms hereunder, the principal sum of $_______ and accrued interest on the date that is the earlier of May 18, 2018 or the date that Company closes an underwritten public offering of its securities in which it raises gross proceeds of at least $3,000,000 (the “Maturity Date”) or such earlier date as this Note is required or permitted to be repaid as provided hereunder, and to pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note in accordance with the provisions hereof.”  

 

2.Effective as of the date of this Letter Agreement, all other references in the Note to October 17, 2017 shall instead be deemed to refer to May 18, 2018. 

 

3.Effective as of the date of this Letter Agreement, the first sentence of Section 4(b) of the Note is amended to read in full as follows: 

 

“Subject to Section 5, the “Conversion Price” in effect on any Conversion Date means, as of any Conversion Date or other date of determination, $2.00.” 

 

4.Except as expressly set forth above in Sections A.1, A.2, and A.3, each provision of the Warrant remains unchanged and in full force and effect. 

 

B.Amendment of the Warrant 

 

1.Effective as of the date of this Letter Agreement, Section 2(b) of the Warrant is amended to read in full as follows: 

“(b)Exercise Price. The initial exercise price per share of the Common Stock under this Warrant shall be equal to $2.00 per share, subject to adjustment under Section 3 (the “Exercise Price”).” 

 

2.Except as expressly set forth above in Section B.1, each provision of the Warrant remains unchanged and in full force and effect. 

 

C.Additional Agreements of _______and Sigma Labs 

 

_______ and Sigma Labs also agree as follows:

1

1._______ agrees (a) that the issuance of securities contemplated by the Exchange Agreement between Sigma Labs and Dawson James Securities, Inc. (“Dawson”), a copy of which is attached to this Letter Agreement, constitutes an Exempt Issuance as defined in the Securities Purchase Agreement dated as of October 17, 2016 (the “Securities Purchase Agreement”) among Sigma Labs and the purchasers named in the Securities Purchase Agreement, (b) that such issuance of securities to Dawson does not constitute an event of default under the Securities Purchase Agreement or any agreement executed in connection with the Securities Purchase Agreement, and (c) that such issuance of securities to Dawson does not provide _______ with a right to a reduction in the Note conversion price or the Warrant exercise price.  

 

2.Sigma Labs agrees to deliver a wire transfer or cashier’s check to _______, no later than three business days after its receipt from _______ of an executed copy of this Letter Agreement, in an aggregate amount equal to $_______ (representing 50% of the outstanding principal balance of the Note) plus all accrued interest on the Note. _______ agrees that the payment by Sigma Labs described in the preceding sentence does not constitute an event of default under the Securities Purchase Agreement or any agreement executed in connection with the Securities Purchase Agreement, and _______ waives its right to a prepayment penalty, a prepayment amount, or any other remedy with respect to such payment under the Note, the Securities Purchase Agreement, or any other agreement executed in connection with the Securities Purchase Agreement. 

 

3.Sigma Labs shall deliver a new Note and Warrant to _______ not later than three business days after the delivery by the parties of an executed copy of this Letter Agreement and _______ delivery of the originals of the Note and Warrant, each marked “Cancelled.” 

 

4.Sigma Labs agrees to file a prospectus supplement with the Securities and Exchange Commission no later than three business days after its receipt from _______ of an executed copy of this Letter Agreement. Such prospectus supplement shall describe the amended Note conversion price and Warrant exercise price and other relevant portions of this Letter Agreement.  

 

Please indicate your agreement with the provisions of this Letter Agreement by executing this Letter Agreement and returning it to me.

 

	 

	Very truly yours,

	 

	 

	 

	 

	 

	 

	 

	John Rice

	 

	Interim Chief Executive Officer

	 

	Sigma Labs, Inc.

 

 

AGREED TO AND ACCEPTED:

 

_______ 

 

 

By: ____________________ 

 

Print Name: _____________

 

Its: ____________________

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