SEC Contract Filing

Filing Date: 2016-03-11

Document Content:
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<TYPE>EX-10.3
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<FILENAME>d138959dex103.htm
<DESCRIPTION>EX-10.3
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<TITLE>EX-10.3</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TRANSFER AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This
TRANSFER AGREEMENT (this &#147;<U>Agreement</U>&#148;) is entered into on this 10th day of March, 2016, by and between ModusLink Global Solutions, Inc., a Delaware corporation (together with its direct and indirect subsidiaries,
&#147;<U>Transferee</U>&#148;), and SPH Services, Inc., a Delaware corporation (&#147;<U>Transferor</U>&#148; and together with Transferee, each a &#147;<U>Party</U>&#148; and collectively, &#147;<U>Parties</U>&#148;). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>RECITALS </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS,
Transferor employs certain individuals to provide corporate services on behalf of its subsidiary, SP Corporate Services LLC (&#147;<U>SP Corporate</U>&#148;), to Transferee&#146;s direct and indirect subsidiaries (the &#147;<U>Corporate
Services</U>&#148;) pursuant to a Management Services Agreement, dated as of January&nbsp;1, 2015, between Transferee and SP Corporate; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Parties have determined that certain employees are providing Corporate Services exclusively to the Transferee, and the Parties
desires to provide for the transfer of such employees to Transferee upon the terms and conditions hereinafter set forth. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE,
in consideration of the covenants, agreements, representations and warranties set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Transferee and Transferor agree as follows:
</P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 1. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEFINITIONS
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1. <U>Certain Defined Terms</U>. In addition to the terms defined elsewhere in this Agreement, capitalized terms that are not
otherwise defined herein have the following meanings: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Affiliate</U>&#148; means, as to any Person, any other Person that
directly or indirectly controls, or is under common control with, or is controlled by, such Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Assumed
Liabilities</U>&#148; means all Liabilities arising under or relating to the Employment Agreements and the provision of the Corporate Services, to the extent arising or due to be performed following the Effective Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Code</U>&#148; means the Internal Revenue Code of 1986, as amended from time to time, or any successor statute. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Contract</U>&#148; means any contract, agreement, lease, commitment, understanding, whether oral or written, which is intended by the
parties thereto or purports to be legally binding and enforceable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Employee Benefit Plan</U>&#148; means all plans, programs or
agreements that Transferee has maintained, sponsored, adopted or obligated itself under with respect to employee benefits, including any pension or retirement plans, medical or dental plans, life or long-term disability insurance, bonus or incentive
compensation, stock option or equity participation plans, with respect to the Subject Employees. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>ERISA</U>&#148; means the Employee Retirement Income Security Act of 1974, as amended
from time to time, or any successor statute. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>ERISA Affiliate</U>&#148; means, with respect to any Person, any trade or business
(whether or not incorporated) which is a member of a controlled group with such Person, or which is under common control with such Person within the meaning of Section&nbsp;414 of the Code or Section&nbsp;4001 of ERISA. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; means generally accepted accounting principles in the United States consistently applied for all relevant periods
presented.