Document:

Offer Letter

					
		  	

	  	Exhibit 10.1

 January 13, 2013 
 Mr. John Boucher 
 Dear John: 
 It is a distinct pleasure to offer you the position of President and Chief Executive Officer 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 report directly to the Board of Directors of the Company (the “Board”). 
 Your annualized base salary will be $550,000, paid bi-weekly. You will be eligible for an annual bonus with a target bonus of 100% of your base salary. The Company’s Executive Management Incentive
Plan, which is adopted annually, typically provides for payouts ranging from 25% of target for threshold achievement to a maximum of 200% for overachievement of the stated goals. For fiscal year 2013 (FY13) your bonus potential will be pro-rated
based on the portion of FY13 in which you are employed, however, you will be guaranteed a minimum bonus of $137,500. Other than the minimum guaranteed bonus for FY13, the actual bonus payments, if any, which you receive will be subject to your
achievement of objectives approved and established by the Human Resources and Compensation Committee of the Board of Directors (the “Compensation Committee”). All salary and bonus payments are subject to normal deductions and withholdings.

 In connection with your employment, you will be granted two stock options. One award will be an option to purchase shares of ModusLink common
stock (the “Standard Option”) with a grant date fair value of $600,000. The number of shares of common stock subject to the Standard Option will be determined under the binomial option valuation methodology the Company uses for financial
reporting purposes and the closing price of the Company’s common stock on the date of grant. The second award will be an option to purchase shares of ModusLink common stock (the “Performance Option” and collectively with the Standard
Option, the “Options”) with a grant date fair value of $775,000. The number of shares of common stock subject to the Performance Option will be determined under the binomial option valuation methodology the Company uses for financial
reporting purposes and the closing price of the Company’s common stock on the date of grant. Both Options will be granted to you on the third trading day of the first open trading window applicable to you occurring following the date the
Company’s restatement of its financial results is complete and announced to the public, provided you are employed by the Company on such date. In the event your start date is later than such date, both Options will be granted at the
commencement of the first open trading window applicable to you after commencement of your employment. Both Options will be awarded under the Company’s 2010 Incentive Award Plan (the “Plan”) and the exercise price will be the closing
price of ModusLink’s common stock (during normal trading hours) on the date of grant. 

 Mr. John J. Boucher 
  Page
 2
 
 January 13, 2013 

 

 The Standard Option, will vest and become exercisable to 25% of the shares on the first anniversary of
the grant date and 1/48th of the shares underlying the option shall vest and become exercisable on each monthly anniversary date of the date of grant starting on the 13th monthly anniversary date of the date of grant, so that the Standard Option
becomes fully vested and exercisable on the fourth anniversary of the date of grant. 
 The Performance Option, will vest and become exercisable
as to 20% of the shares underlying the Performance Option on each of the first five anniversaries of the date of grant, provided that in each such case a minimum price per share of the common stock (as calculated below and adjusted for stock splits
or other changes in capitalization) (the “Price Performance Threshold”) has been achieved. The Price Performance Threshold for the first through fifth tranches of Performance Options shall be set forth in the applicable option agreement
and shall be determined and expressed as a multiple of the exercise price as follows: (i) 1.5 times the exercise price, (ii) 2 times the exercise price, (iii) 2.5 times the exercise price, (iv) 3 times the exercise price and
(v) 3.5 times the exercise price The Price Performance Threshold shall be measured by calculating the average closing stock price on the relevant anniversary date for the three month period ending on such date. To the extent shares do not vest
on the designated anniversary date, vesting may occur on a subsequent anniversary date if the performance criteria are met, when measured on the subsequent anniversary date, through the fifth anniversary date. (For example, if the grant date is
January 15, 2013, the exercise price for the Performance Option is $3.00 per share, the price targets are $4.50, $6.00, $7.50, $9.00 and $10.50, and the average price in the three-month period ending January 15, 2014 is $4.50, then the
first tranche or 20% of the Performance Option will vest. If the average price measured at the first anniversary is below $4.50, but the average price measured at the second anniversary is $6.00, then the first and second tranches of the Performance
Option will vest. If the average price measured on the second anniversary is below $6.00, but the average price measured on the third anniversary is $6.50, the second tranche (but not the third tranche) would then vest.) The Options will only vest
and become exercisable if you remain employed by the Company on the applicable vesting date. Unless terminated earlier by their terms, the Options shall have a seven (7) year term. 
 On the same day that the Options are granted, you will also be awarded 50,000 shares of restricted common stock of ModusLink. This award will be made pursuant to the Plan. Provided you remain employed by
the Company, the restrictions with respect to the restricted stock award will lapse on the third anniversary of the grant date. The Company encourages you to promptly speak with your own tax or legal advisor with respect to the tax effect and any
filings that you may want to make with the Internal Revenue Service in connection with this restricted stock award. 
 Beginning in the
Company’s FY2014, you will be eligible for annual equity based compensation awards with a target grant date fair value of $1,200,000, with 50% of the grant date fair value to be awarded in stock options and 50% in the form of performance based
restricted stock (“PBRS”). The vesting and terms of the stock options shall be identical to the first-year Standard Option. The performance objectives, performance period and vesting provisions applicable to the PBRS shall be determined by
the Compensation Committee each year in its discretion and will be governed by the 

 Mr. John J. Boucher 
  Page
 3
 
 January 13, 2013 

 

 
terms of the program established by the Compensation Committee, which will be consistently applied to you and other similarly situated executives at the Company. Annual equity awards are
typically made in the first or second fiscal quarter of each fiscal year. 
 The Options and the restricted stock award described above will
each be subject to all terms, limitations, restrictions and termination provisions set forth in the 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 your employment with the Company. 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 (including the executive Long Term Disability benefit protection), 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 coverages offered will be reviewed with you when you join the Company. 

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. 
 On your first day of employment, you will enter into an Executive Severance Agreement in the form enclosed, which provides
that should the Company terminate your employment without Cause, or should you terminate your employment for Good Reason, you will be eligible to receive severance in an amount equal to 12 months of your base salary, your target bonus for the year
of termination and reimbursement for your COBRA payments (over and above your normal contribution toward your benefits) for 12 months. Payment of this amount would be made in accordance with the Company’s regular pay periods, for the 12-month
period following your date of termination. In addition, in the event that during your employment with the Company, the Company undergoes a Change of Control, and within one year after the Change of Control your employment is terminated by the
Company without Cause, or by you for Good Reason, then you will be entitled to receive change in control severance equal to (1) 1.5 times the sum of your annual base salary plus your target bonus if such Change in Control occurs prior to
July 31, 2013, or (2) 2 times the sum of your base salary plus your target bonus if such Change in Control occurs after July 31, 2013, and the Standard Option and all annual option awards shall be fully vested and exercisable, the
Performance Options shall vest 20% for each Price Performance Threshold which has been met at the time of the Change of Control, all restricted stock subject to time-based vesting shall be free of restriction and the PBRS will vest pro rata based on
the proportion of the 

 Mr. John J. Boucher 
  Page
 4
 
 January 13, 2013 

 

 
performance period completed through the termination date, and at the target performance level. In addition, in such circumstance, you will be reimbursed for your COBRA payments (over and above
your normal contribution toward your benefits) for the maximum amount of time that you elect COBRA benefits, not to exceed the duration during which you receive your severance pay. Payment of the change in control severance will be made in
accordance with the Company’s regular pay periods, for the 18 or 24 -month period, as applicable, following your date of termination, including prorated installments of your bonus. All capitalized terms used in this paragraph are defined in the
Executive Severance Agreement and the summary description provided in this paragraph is subject to all terms and conditions contained in the Executive Severance Agreement. In the event of any conflict between the terms of this paragraph and the
terms of the Executive Severance Agreement, the Executive Severance Agreement shall govern. Any payment of severance benefits will be conditioned upon your execution of the Company’s standard form of general release. 

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.
This offer is conditional upon a mutually agreeable start date of no later than January 28, 2013. 
 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. 

 Mr. John J. Boucher 
  Page
 5
 
 January 13, 2013 

 

 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 January 15, 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. 
 John, 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/ Francis J. Jules
	
	Francis J. Jules
	Chairman
	
	Agreed and accepted:

  

							
	 /s/ John J. Boucher
	  		  	 1/14/13
	  	
	John J. Boucher	  		  	DateExhibit 10.1

 Exhibit 10.1 
 INVESTMENT ADVISORY AGREEMENT 
 THIS INVESTMENT
ADVISORY AGREEMENT (this “Agreement”) is made this 25th day of October, 2012 between Hennessy Funds Trust, a Delaware statutory trust (the “Trust”), on behalf of each of its investment series set forth on Schedule A hereto as it may be
amended from time to time (hereinafter referred to each as a “Fund” and together as the “Funds”), and Hennessy Advisors, Inc., a California corporation (the “Adviser”). 

RECITALS 

WHEREAS, the Trust is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended
(the “Act”), as an open-end management investment company; and 
 WHEREAS, the Trust desires to retain
the Adviser, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended, as the investment adviser to the Funds. 
 AGREEMENT 
 NOW, THEREFORE, the Trust and the Adviser do
mutually promise and agree as follows: 
  

	1.	Employment. The Trust hereby employs the Adviser to manage the investment and reinvestment of the assets of each Fund for the period and on the terms set forth
in this Agreement. The Adviser hereby accepts such employment for the compensation herein provided and agrees during such period to render the services and to assume the obligations herein set forth. 

 

	2.	Authority of the Adviser. The Adviser shall supervise and manage the investment portfolio of each Fund, and, subject to such policies as the trustees of the
Trust may determine, direct the purchase and sale of investment securities in the day to day management of each Fund. The Adviser shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided
or authorized, have no authority to act for or represent the Trust or any Fund in any way or otherwise be deemed an agent of the Trust or any Fund. However, one or more shareholders, officers, directors or employees of the Adviser may serve as
trustees and/or officers of the Trust, but without compensation or reimbursement of expenses for such services from the Trust. Nothing herein contained shall be deemed to require the Trust to take any action contrary to its Trust Instrument, as it
may be amended from time to time, or any applicable statute or regulation, or to relieve or deprive the trustees of the Trust of their responsibility for, and control of, the affairs of the Trust. 

 

	3.	Use of Sub-Advisers. All services to be furnished by the Adviser under this Agreement may be furnished through the medium of any managers, officers or employees
of the Adviser or through such other parties (including, without limitation, a sub-adviser) as the Adviser may determine from time to time. Each sub-advisory agreement may provide that the applicable sub-adviser, subject to the control and
supervision of the Trust’s Board of Trustees and the Adviser, shall have full investment discretion for the applicable Fund, shall make all determinations with respect to the investment of such Fund’s assets assigned to it and the purchase
and sale of portfolio securities with those assets, and shall take such steps as may be necessary to implement its investment decisions. Any delegation of duties pursuant to this paragraph shall comply with any applicable provisions of
Section 15 of the Act, except to the extent permitted by any exemptive order of the Securities and Exchange Commission or similar relief. The Adviser shall not be responsible or liable for the investment merits of any decision by a sub-adviser
to purchase, hold or sell a security for the applicable Fund’s portfolio; provided, however, that this provision shall not limit the Adviser’s obligation as a fiduciary to supervise each Fund’s investment program and the activities of
sub-advisers. 

	4.	Expenses. The Adviser, at its own expense and without reimbursement from the Trust or any Fund, shall furnish office space, and all necessary office facilities,
equipment and executive personnel for managing the investments of each Fund. The Adviser shall not be required to pay any expenses of a Fund unless specifically stated herein. The expenses of each Fund’s operations borne by the Fund include by
way of illustration and not limitation, trustees’ fee paid to those trustees who are not interested trustees under the Act; the costs of preparing and printing its registration statements required under the Securities Act of 1933, as amended,
and the Act (and amendments thereto); the expense of registering its shares with the Securities and Exchange Commission and in the various states; the printing and distribution cost of prospectuses mailed to existing shareholders; the cost of
trustee and officer liability insurance, reports to shareholders, reports to government authorities and proxy statements; interest charges; taxes; legal expenses; salaries of personnel specifically employed or engaged by the Trust and approved by
the Trust’s Board of Trustees (including, but not limited to, the Trust’s Chief Compliance Officer); association membership dues; auditing, accounting and tax services; insurance premiums; brokerage and other costs incurred in connection
with the purchase and sale of securities; fees and expenses of the custodian of the Fund’s assets; shareholder servicing fees; expenses of calculating the net asset value and repurchasing and redeeming shares; charges and expenses of dividend
disbursing agents, registrars and stock transfer agents, fund administrators and fund accountants; and the cost of keeping all necessary shareholder records and accounts. 

 

	5.	Compensation of the Adviser. For the services and facilities to be rendered, the Trust through each Fund shall pay to the Adviser an advisory fee, paid monthly,
based on the average daily net assets of the Fund, as determined by valuations made as of the close of each business day of the month. The advisory fee payable by each Fund is set forth on Schedule A hereto. For any month in which this Agreement is
not in effect for the entire month, such fee shall be reduced proportionately on the basis of the number of calendar days during which it is in effect and the fee computed upon the average daily net assets of the business days during which it is so
in effect. 

  

	6.	Ownership of Shares of the Funds. The Adviser shall not take, and shall not permit any of its shareholders, officers, directors or employees to take, a long or
short position in the shares of a Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase. 

 

	7.	 Exclusivity. The services of the Adviser to the Trust hereunder are not to be deemed exclusive and the Adviser shall be free to furnish similar
services to others as long as the services hereunder are not impaired thereby. Although the Adviser has permitted and is permitting the Trust and one or more Funds to use the name “Hennessy,” it is understood and agreed that the Adviser
reserves the right to use and to permit other persons, firms or corporations, including investment 

	 	
companies, to use such name, and that the Trust and the Funds will not use such name if the Adviser ceases to be each Fund’s sole investment adviser (not including any sub-advisers engaged
pursuant to Paragraph 3). During the period that this Agreement is in effect, the Adviser shall be each Fund’s sole investment adviser (not including any sub-advisers engaged pursuant to Paragraph 3). 

 

	8.	Liability. In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties hereunder on the part of the
Adviser, the Adviser shall not be subject to liability to the Funds or to any shareholder of the Funds for any act or omission in the course of, or connected with, rendering services hereunder, including any losses that may be sustained in the
purchase, holding or sale of any security. 

  

	9.	Indemnification. The Adviser agrees to indemnify each Fund with respect to any loss, liability, judgment, cost or penalty which the Fund may directly or
indirectly suffer or incur as a result of a material breach by the Adviser of its standard of care set forth in Paragraph 8. The Trust, on behalf of each Fund, agrees to indemnify the Adviser with respect to any loss, liability, judgment, cost or
penalty which the Adviser may directly or indirectly suffer or incur in any way arising out of the performance of its duties under this Agreement, except to the extent that such loss, liability, judgment, cost or penalty was a result of a material
breach by the Adviser of its standard of care set forth in Paragraph 8. 

  

	10.	Brokerage Commissions. The Adviser, subject to the control and direction of the trustees of the Trust, shall have authority and discretion to select brokers and
dealers to execute portfolio transactions for each Fund and for the selection of the markets on or in which the transactions will be executed. The Adviser may cause each Fund to pay a broker-dealer which provides brokerage or research services, as
such services are defined in Section 28(e) of the Securities Exchange Act of 1934 (the “Exchange Act”), to the Adviser a commission for effecting a securities transaction in excess of the amount another broker-dealer would have
charged for effecting such transaction, if the Adviser determines in good faith that such amount of commission is reasonable in relation to the value of brokerage and research services provided by the executing broker-dealer viewed in terms of
either that particular transaction or the Adviser’s overall responsibilities with respect to the accounts as to which the Adviser exercises investment discretion (as defined in Section 3(a)(35) of the Exchange Act). The Adviser shall
provide such reports as the trustees of the Trust may reasonably request with respect to each Fund’s brokerage commissions, the manner in which that brokerage was allocated and brokerage and research services received. 

 

	11.	Code of Ethics. The Adviser has adopted a written code of ethics complying with the requirements of Rule 17j-1 under the Act and has provided the Trust with a
copy of the code of ethics and evidence of its adoption. Upon written request of the Trust, the Adviser shall permit the Trust to examine any reports required to be made by the Adviser pursuant to Rule 17j-1 under the Act, to the extent such reports
are not required, pursuant to Rule 17j-1, to be made to the Trust. 

	12.	Amendments. This Agreement may be amended by the mutual consent of the parties; provided, however, that in no event may it be amended without the approval of the
trustees of the Trust in the manner required by the Act, and, if required by the Act, by the vote of the majority of the outstanding voting securities of the affected Fund, as defined in the Act. 

 

	13.	Termination. This Agreement may be terminated at any time with respect to a Fund, without the payment of any penalty, by the trustees of the Trust or by a vote
of the majority of the outstanding voting securities of that Fund, as defined in the Act, upon giving sixty (60) days’ written notice to the Adviser. This Agreement may be terminated by the Adviser at any time upon the giving of sixty
(60) days’ written notice to the Trust. This Agreement shall terminate automatically in the event of its assignment (as defined in Section 2(a)(4) of the Act). Subject to prior termination as hereinbefore provided, this Agreement
shall continue in effect for two (2) years from the date hereof and indefinitely thereafter, but only so long as the continuance after such two (2) year period is specifically approved annually by (i) the trustees of the Trust or by
the vote of the majority of the outstanding voting securities of each Fund, as defined in the Act, and (ii) the trustees of the Trust in the manner required by the Act, provided that any such approval may be made effective not more than sixty
(60) days thereafter. 

  

	14.	Obligations of the Trust. The name “Hennessy Funds Trust” and references to the trustees of Hennessy Funds Trust refer respectively to the Trust
created and the trustees, as trustees but not individually or personally, acting from time to time under a Trust Instrument dated as of September 16, 1992, as amended, which is hereby referred to and a copy of which is on file with the
Secretary of the State of Delaware. The obligations of Hennessy Funds Trust entered into in the name or on behalf thereof by any of the trustees, representatives or agents of the Trust are made not individually, but in such capacities, and are not
binding upon any of the trustees, shareholders, or representatives of the Trust personally, but bind only the Trust property, and all persons dealing with any class of shares of the Trust must look solely to the Trust property belonging to such
class for the enforcement of any claims against the Trust. 

 (Signature page follows.) 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on
the day first above written. 
  

			
		 	HENNESSY ADVISORS, INC.
		
	By:	 	 /s/ Neil J. Hennessy

		 	Neil J. Hennessy
		 	President and Chief Executive Officer
		
		 	HENNESSY FUNDS TRUST
		
	By:	 	 /s/ Neil J. Hennessy

		 	Neil J. Hennessy
		 	President

 SCHEDULE A 
 (October 25, 2012) 
  

					
	 Name of Fund
	  	Compensation
(as a % 
of average daily net
assets)	 
	 Hennessy Focus Fund
	  	 	0.90	% 
	 Hennessy Large Cap Financial Fund
	  	 	0.90	% 
	 Hennessy Small Cap Financial Fund
	  	 	0.90	% 
	 Hennessy Technology Fund
	  	 	0.90	% 
	 Hennessy Gas Utility Index Fund
	  	 	0.40	% 
	 Hennessy Equity and Income Fund
	  	 	0.80	% 
	 Hennessy Core Bond Fund
	  	 	0.80	%

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