Form SC 13D/A ModusLink Global Solutio Filed by: HANDY & HARMAN LTD.

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January 7, 2015 5:15 PM EST

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO ��240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

��240.13d-2(a)

(Amendment No.�17)1

ModusLink Global Solutions, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

60786L107

(CUSIP Number)

�

Warren G. Lichtenstein

Steel Partners Holdings L.P.

590 Madison Avenue, 32nd Floor

New York, New York 10022

(212) 520-2300

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

January 5, 2015

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ��240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box �.

Note:��Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.��See ��240.13d-7 for other parties to whom copies are to be sent.

_______________

1�� The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

�

CUSIP NO. 60786L107

�

1	NAME OF REPORTING PERSON � HANDY & HARMAN LTD.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		� (a)�o � (b)�o
3	SEC USE ONLY �
4	SOURCE OF FUNDS � WC, AF
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) �		�
6	CITIZENSHIP OR PLACE OF ORGANIZATION � DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER � - 0 -
	8	SHARED�VOTING POWER � 6,504,008
	9	SOLE DISPOSITIVE POWER � - 0 -
	10	SHARED�DISPOSITIVE POWER � 6,504,008
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON � 6,504,008
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES �		o
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) � 12.5%
14	TYPE OF REPORTING PERSON � CO

�

CUSIP NO. 60786L107

�

1	NAME OF REPORTING PERSON � WHX CS Corp.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		� (a)�o � (b)�o
3	SEC USE ONLY �
4	SOURCE OF FUNDS � OO
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) �		�
6	CITIZENSHIP OR PLACE OF ORGANIZATION � DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER � - 0 -
	8	SHARED�VOTING POWER � 5,940,170
	9	SOLE DISPOSITIVE POWER � - 0 -
	10	SHARED�DISPOSITIVE POWER � 5,940,170
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON � 5,940,170
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES �		o
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) � 11.4%
14	TYPE OF REPORTING PERSON � CO

�

CUSIP NO. 60786L107

�

1	NAME OF REPORTING PERSON � STEEL PARTNERS, LTD.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		� (a)�o � (b)�o
3	SEC USE ONLY �
4	SOURCE OF FUNDS � WC
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) �		�
6	CITIZENSHIP OR PLACE OF ORGANIZATION � DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER � - 0 -
	8	SHARED�VOTING POWER � 60,000
	9	SOLE DISPOSITIVE POWER � - 0 -
	10	SHARED�DISPOSITIVE POWER � 60,000
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON � 60,000
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES �		o
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) � LESS THAN 1%
14	TYPE OF REPORTING PERSON � CO

�

CUSIP NO. 60786L107

�

1	NAME OF REPORTING PERSON � STEEL PARTNERS HOLDINGS L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		� (a)�o � (b)�o
3	SEC USE ONLY �
4	SOURCE OF FUNDS � WC, AF
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) �		�
6	CITIZENSHIP OR PLACE OF ORGANIZATION � DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER � - 0 -
	8	SHARED�VOTING POWER � 16,544,023*
	9	SOLE DISPOSITIVE POWER � - 0 -
	10	SHARED�DISPOSITIVE POWER � 16,544,023*
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON � 16,544,023*
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES �		o
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) � 30.6%
14	TYPE OF REPORTING PERSON � PN

____________________

*Includes 2,000,000 Shares underlying currently exercisable Warrants.

�

CUSIP NO. 60786L107

�

1	NAME OF REPORTING PERSON � SPH GROUP LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		� (a)�o � (b)�o
3	SEC USE ONLY �
4	SOURCE OF FUNDS � AF
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) �		�
6	CITIZENSHIP OR PLACE OF ORGANIZATION � DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER � - 0 -
	8	SHARED�VOTING POWER � 7,044,023
	9	SOLE DISPOSITIVE POWER � - 0 -
	10	SHARED�DISPOSITIVE POWER � 7,044,023
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON � 7,044,023
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES �		o
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) � 13.5%
14	TYPE OF REPORTING PERSON � OO

�

CUSIP NO. 60786L107

�

1	NAME OF REPORTING PERSON � SPH GROUP HOLDINGS LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		� (a)�o � (b)�o
3	SEC USE ONLY �
4	SOURCE OF FUNDS � WC
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) �		�
6	CITIZENSHIP OR PLACE OF ORGANIZATION � DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER � - 0 -
	8	SHARED�VOTING POWER � 7,044,023
	9	SOLE DISPOSITIVE POWER � - 0 -
	10	SHARED�DISPOSITIVE POWER � 7,044,023
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON � 7,044,023
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES �		o
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) � 13.5%
14	TYPE OF REPORTING PERSON � OO

�

CUSIP NO. 60786L107

�

1	NAME OF REPORTING PERSON � STEEL PARTNERS HOLDINGS GP INC.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		� (a)�o � (b)�o
3	SEC USE ONLY �
4	SOURCE OF FUNDS � AF
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) �		�
6	CITIZENSHIP OR PLACE OF ORGANIZATION � DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER � - 0 -
	8	SHARED�VOTING POWER � 16,544,023*
	9	SOLE DISPOSITIVE POWER � - 0 -
	10	SHARED�DISPOSITIVE POWER � 16,544,023*
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON � 16,544,023*
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES �		o
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) � 30.6%
14	TYPE OF REPORTING PERSON � CO

�

*Includes 2,000,000 Shares underlying currently exercisable Warrants.

�

CUSIP NO. 60786L107

�

1	NAME OF REPORTING PERSON � WARREN G. LICHTENSTEIN
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		� (a)�o � (b)�o
3	SEC USE ONLY �
4	SOURCE OF FUNDS � AF, OO
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) �		�
6	CITIZENSHIP OR PLACE OF ORGANIZATION � USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER � 59,539
	8	SHARED�VOTING POWER � 60,000
	9	SOLE DISPOSITIVE POWER � - 0 -
	10	SHARED�DISPOSITIVE POWER � 59,539
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON � 119,539
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES �		o
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) � LESS THAN 1%
14	TYPE OF REPORTING PERSON � IN

�

CUSIP NO. 60786L107

�

1	NAME OF REPORTING PERSON � GLEN M. KASSAN
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		� (a)�o � (b)�o
3	SEC USE ONLY �
4	SOURCE OF FUNDS � OO
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) �		�
6	CITIZENSHIP OR PLACE OF ORGANIZATION � USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER � 37,317
	8	SHARED�VOTING POWER � - 0 -
	9	SOLE DISPOSITIVE POWER � 37,317
	10	SHARED�DISPOSITIVE POWER � - 0 -
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON � 37,317
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES �		o
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) � LESS THAN 1%
14	TYPE OF REPORTING PERSON � IN

�

CUSIP NO. 60786L107

�

The following constitutes Amendment No. 17 to the Schedule 13D filed by the undersigned (Amendment No. 17).��This Amendment No. 17 amends the Schedule 13D as specifically set forth herein.

�

Item 3.

Source and Amount of Funds or Other Consideration.

�

Item 3 is hereby amended and restated to read as follows:

�

The aggregate purchase price of the 563,838 Shares owned directly by HNH is approximately $1,941,073, including brokerage commissions. The Shares owned directly by HNH were acquired with the working capital of HNH.

�

The 5,940,170 Shares owned directly by WHX CS were transferred to WHX CS by its parent HNH.

�

The aggregate purchase price of the 540,015 Shares owned directly by SPHG Holdings is approximately $1,574,144, including brokerage commissions. The Shares owned directly by SPHG Holdings were acquired with the working capital of SPHG Holdings.

�

The aggregate purchase price of the 7,500,000 Shares and Warrants to purchase 2,000,000 Shares owned directly by Steel Holdings is $30,000,000. Such Shares and Warrants were acquired with the working capital of Steel Holdings.

�

The aggregate purchase price of the 60,000 Shares owned directly by SPL is approximately $411,192, including brokerage commissions. The Shares owned directly by SPL were acquired with the working capital of SPL.

�

Mr. Lichtenstein beneficially owns 59,539 Shares awarded to him in his capacity as a director of the Issuer.

�

Mr. Kassan beneficially owns 37,317 Shares awarded to him in his capacity as a director of the Issuer.

�

Set forth on Schedule B annexed hereto is the aggregate purchase price of the Shares beneficially owned, if any, by each of the persons who are not Reporting Persons listed on Schedule A annexed to Amendment No. 16 to the Schedule 13D (Schedule A).

�

Item 4.

Purpose of Transaction.

�

Item 4 is hereby amended to add the following:

�

In accordance with the Amendment to the Issuers Restated Certificate of Incorporation (the Protective Amendment) to protect the Issuers net operating losses and other tax benefits (the NOLs), which was approved by the Issuers stockholders at its 2014 Annual Meeting of Stockholders and filed by the Issuer with the Delaware Secretary of State, HNH requested, and the Issuer granted HNH and its affiliates, a waiver under the Protective Amendment to permit their acquisition of up to 45% of the outstanding Shares in the aggregate (subject to proportionate adjustment, the 45% Cap), in addition to acquisitions of Shares in connection with the exercise of the Warrants owned by Steel Holdings, as well as a limited waiver under Section 203 of the Delaware General Corporation Law for this purpose.��Notwithstanding the foregoing, HNH and its affiliates (and any group of which HNH or any of its affiliates is a member) are not permitted to acquire securities that would result in an ownership change of the Issuer for purposes of Section 382 of the Internal Revenue Code of 1986, as amended, that would have the effect of impairing any of the Issuers NOLs.

�

CUSIP NO. 60786L107

�

On January 5, 2015, the Issuer and HNH entered into Amendment No. 1 to their Settlement Agreement (Amendment No. 1) to reflect the 45% Cap and the expiration of the Settlement Agreement on February 13, 2015.��The foregoing description of Amendment No. 1 is qualified in its entirety by reference to Amendment No. 1, which is attached as Exhibit 99.1 hereto and incorporated herein by reference.

�

Item 5.

Interest in Securities of the Issuer.

�

Item 5(a) is hereby amended and restated to read as follows:

�

(a) The aggregate percentage of Shares reported owned by each person named herein is based upon 52,115,711 Shares outstanding, which is the total number of Shares outstanding as of November 30, 2014 as reported in the Issuers Form 10-Q filed with the Securities and Exchange Commission on December 10, 2014.

�

As of the date hereof, HNH owned directly 563,838 Shares, constituting approximately 1.1% of the Shares outstanding. By virtue of their relationship with HNH discussed in further detail in Item 2, each of Steel Holdings, SPHG, SPHG Holdings and Steel Holdings GP may be deemed to beneficially own the Shares owned directly by HNH.

�

As of the date hereof, WHX CS owned directly 5,940,170 Shares, constituting approximately 11.4% of the Shares outstanding. By virtue of their relationship with WHX CS discussed in further detail in Item 2, each of HNH, Steel Holdings, SPHG, SPHG Holdings and Steel Holdings GP may be deemed to beneficially own the Shares owned directly by WHX CS.

�

As of the date hereof, SPHG Holdings owned directly 540,015 Shares, constituting approximately 1.0% of the Shares outstanding. By virtue of their relationship with SPHG Holdings discussed in further detail in Item 2, each of Steel Holdings, SPHG and Steel Holdings GP may be deemed to beneficially own the Shares owned directly by SPHG Holdings.

�

As of the date hereof, Steel Holdings owned directly 7,500,000 Shares and beneficially owned an additional 2,000,000 Shares underlying currently exercisable Warrants, constituting approximately 17.6% of the Shares outstanding. By virtue of its relationship with Steel Holdings discussed in further detail in Item 2, Steel Holdings GP may be deemed to beneficially own the Shares, including the Shares underlying the Warrants, owned directly by Steel Holdings.

�

As of the date hereof, SPL owned directly 60,000 Shares, constituting less than 1% of the Shares outstanding. By virtue of his relationship with SPL discussed in further detail in Item 2, Warren G. Lichtenstein may be deemed to beneficially own the Shares owned directly by SPL.

�

As of the date hereof, Warren G. Lichtenstein beneficially owned 59,539 Shares, including 22,222 restricted Shares, constituting less than 1% of the Shares outstanding.

�

CUSIP NO. 60786L107

�

As of the date hereof, Glen M. Kassan beneficially owned 37,317 Shares, constituting less than 1% of the Shares outstanding.

�

Set forth on Schedule B is the aggregate number and percentage of Shares beneficially owned, if any, by each of the persons who are not Reporting Persons listed on Schedule A. Unless otherwise indicated thereon, the persons listed on Schedule B have (i) the sole power to vote and dispose of the Shares they beneficially own, if any, and (ii) the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares that they beneficially own, if any.

�

This statement reports an aggregate of 16,700,879 Shares, including 2,000,000 Shares underlying currently exercisable Warrants, beneficially owned by the Reporting Persons, constituting approximately 30.9% of the Shares outstanding.

�

Item 5(b) is hereby amended and restated to read as follows:

�

(b) Each of WHX CS, HNH, SPHG Holdings, SPHG, Steel Holdings and Steel Holdings GP is deemed to have shared power to vote and dispose of the Shares owned directly by WHX CS. Each of HNH, SPHG Holdings, SPHG, Steel Holdings and Steel Holdings GP is deemed to have shared power to vote and dispose of the Shares owned directly by HNH. Each of SPHG Holdings, Steel Holdings, SPHG and Steel Holdings GP is deemed to have shared power to vote and dispose of the shares owned directly by SPHG Holdings. Each of Steel Holdings and Steel Holdings GP is deemed to have shared power to vote and dispose of the shares owned directly by Steel Holdings. Each of SPL and Warren G. Lichtenstein is deemed to have shared power to vote and dispose of the shares owned directly by SPL.

�

Item 5(c) is hereby amended to add the following:

�

(c) Schedule C annexed hereto lists all transactions in the Shares in the past 60 days by the Reporting Persons. All of such transactions were effected in the open market.��In addition, Warren G. Lichtenstein was awarded 22,222 restricted Shares in his capacity as a director of the Issuer on January 2, 2015.

�

Item 6.

Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

�

Item 6 is hereby amended to add the following:

�

On January 5, 2015, the Issuer and HNH entered into Amendment No. 1, as defined and described in Item 4 above and attached as Exhibit 99.1 hereto.

�

Item 7.

Material to be Filed as Exhibits.

�

Item 7 is hereby amended to add the following exhibit:

�

99.1

Amendment No. 1 to Settlement Agreement, dated January 5, 2015, by and between the Issuer and HNH.

�

CUSIP NO. 60786L107

�

SIGNATURES

After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

�

Dated:��January 7, 2015	HANDY & HARMAN LTD.
�	�
�	By:	/s/ James F. McCabe, Jr.
�	�	James F. McCabe, Jr. Senior Vice President and Chief Financial Officer

�

�	WHX CS CORP.
�	�
�	By:	/s/ Jack L. Howard
�	�	Jack L. Howard President

�	STEEL PARTNERS, LTD.
�	�
�	By:	/s/ Jack L. Howard
�	�	Jack L. Howard President

�	STEEL PARTNERS HOLDINGS L.P.
�	�
�	By:		Steel Partners Holdings GP Inc. General Partner
�	�
�	By:	/s/ Jack L. Howard
�	�	Jack L. Howard President

�	SPH GROUP LLC
�	�
�	By:		Steel Partners Holdings GP Inc. Managing Member
�	�
�	By:	/s/ Jack L. Howard
�	�	Jack L. Howard President

�

CUSIP NO. 60786L107

�	SPH GROUP HOLDINGS LLC
�	�
�	By:		Steel Partners Holdings GP Inc. Manager
�	�
�	By:	/s/ Jack L. Howard
�	�	Jack L. Howard President

�	STEEL PARTNERS HOLDINGS GP INC.
�	�
�	By:	/s/ Jack L. Howard
�	�	Jack L. Howard President

�	/s/ Jack L. Howard
�	JACK L. HOWARD as Attorney-In-Fact for Warren G. Lichtenstein

�	/s/ Glen M. Kassan
�	GLEN M. KASSAN

�

CUSIP NO. 60786L107

�

SCHEDULE B

Interest in Shares of the Issuer by the Persons Listed on Schedule A

Name	Number of Shares Beneficially Owned	Percentage	Aggregate Cost
Jack L. Howard	10,000	Less than 1%	$68,530
Anthony Bergamo	� 41,533*	Less than 1%	$27,250

*	Includes 22,222 restricted Shares awarded to Mr. Bergamo in his capacity as a director of the Issuer on January 2, 2015.

�

CUSIP NO. 60786L107

�

SCHEDULE C

Transactions in the Shares of the Issuer in the Past 60 Days

Class of

Security

Securities

Purchased

Price ($)

Date of

Purchase

HANDY & HARMAN LTD.

Common Stock	1,404	�	3.1400	12/15/14
Common Stock	106,937	�	3.5732	12/18/14
Common Stock	65,021	�	3.5730	12/19/14
Common Stock	27,131	�	3.5938	12/22/14
Common Stock	17,592	�	3.5972	12/29/14
Common Stock	17,000	�	3.5983	12/30/14
Common Stock	22,550	�	3.5979	12/31/14
Common Stock	32,470	�	3.6000	01/02/15
Common Stock	37,884	�	3.5999	01/05/15
Common Stock	40,049	�	3.5834	01/06/15
Common Stock	10,600	�	3.5968	01/07/15

�

Exhibit 99.1

�

AMENDMENT NO.1

Settlement Agreement

�

AMENDMENT NO. 1 to Settlement Agreement (the Agreement) dated January 5, 2015 (this Amendment) by and between ModusLink Global Solutions, Inc., a Delaware corporation (the Company), and Handy & Harman Ltd., a Delaware corporation (HNH and together with the parties listed on Exhibit A thereto, the Stockholder).��Each of the Company and the Stockholder is referred to herein as a Party and collectively as the Parties.��Capitalized terms used but not defined herein shall have the meaning given to such terms in the Agreement.

�

WHEREAS, the Continuing Directors Committee of the Board of Directors of the Company and the Stockholder deem it advisable and in the best interests of the Company and its stockholders to amend certain provisions of the Agreement;

�

WHEREAS, the Board of Directors of the Company has granted waivers to the Stockholder and its Affiliates and Associates to permit their acquisition of securities of the Company up to the 45% Cap (as defined below) and the acquisition of the shares of Common Stock underlying the Warrants, in each case under Section 203 of the Delaware General Corporation Law and the Amendment to the Companys Restated Certification of Incorporation filed with the Delaware Secretary of State on December 29, 2014;

WHEREAS, pursuant to and in accordance with Section�19 of the Agreement, the Parties desire to amend the Agreement as set forth below.

�

NOW, THEREFORE, the Agreement is hereby amended as follows:

�

1.��Paragraph (a) of Section 5. Standstill is amended and restated in its entirety to read as follows:

(a)��During the period commencing on the date hereof and ending on February 13, 2015 (the Share Acquisition Period), without the prior consent of a majority of the Continuing Directors or except as otherwise expressly provided below, neither the Stockholder nor any of its Affiliates shall acquire, or propose to acquire, beneficial ownership (as defined in Section�13(d) of the Exchange Act) of any equity securities, or rights or options to acquire any such securities (through purchase, exchange, conversion or otherwise), of the Company, including derivative securities representing the right to vote or economic benefits of any such securities, provided, that the Stockholder and its Affiliates ownership in the outstanding Common Stock of the Company shall not exceed forty-five (45%) of the then outstanding Common Stock when combined with other Equity Interests of the Company beneficially owned by HNH, the Stockholder or any of their respective Affiliates as of the date hereof (after giving effect to the transactions contemplated by the Investment Agreement (excluding the issuance or exercise of the Warrants)) (which, for purposes of such calculation, shall include shares of Common Stock issuable upon conversion of then-outstanding preferred stock) (the 45% Cap) during the Share Acquisition Period,��provided,�however, that, notwithstanding the foregoing restrictions (including, without limitation, the 45% Cap), the Stockholder and its Affiliates (including HNH) shall be permitted to acquire (i)� the Common Stock underlying the Warrants set forth and in accordance with the terms of the Warrants and (ii)�securities as a result of, or offered pursuant to, any share division or split, share consolidation, stock/share dividend or equivalent under Delaware law, combination, recapitalization, rights offering or similar events.

�

2.��Effect of this Amendment.� It is the intent of the parties that this Amendment constitutes an amendment of the Agreement as contemplated by Section�19 thereof.� This Amendment shall be deemed effective as of the date hereof as if executed by both parties hereto on such date.��Except as expressly provided in this Amendment, the terms of the Agreement remain in full force and effect.

�

3.��Counterparts.� This Amendment may be executed in any number of counterparts and each of such counterpart shall for all purposes be deemed to be an original, and all such counterparts shall together constitute one and the same instrument.

�

4.��Governing Law.� This Amendment shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be governed by and construed in accordance with the laws of such state applicable to contracts to be made and performed entirely within such state.

�

5.��Severability.� If any term, provision, covenant or restriction of this Amendment is held by a court of competent jurisdiction or other authority to be invalid, illegal or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Amendment shall remain in full force and effect and shall in no way be affected, impaired or invalidated.

�

6.��Descriptive Headings.� The captions herein are included for convenience of reference only, do not constitute a part of this Amendment and shall be ignored in the construction and interpretation hereof.

�

[Signature Page�Follows]

�

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date set forth above.

�

�	MODUSLINK GLOBAL SOLUTIONS, INC.
�	�
�	�
�	By:	/s/ John Boucher
�	Name:	John Boucher�
�	Title:	President and Chief Executive Officer�
�	�
�	�
�	HANDY & HARMAN LTD.
�	�
�	�
�	By:	/s/ James F. McCabe, Jr.
�	Name:	James F. McCabe, Jr.�
�	Title:	Chief Financial Officer�

�

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Form SC 13D/A ModusLink Global Solutio Filed by: HANDY & HARMAN LTD.

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