Exhibit (c) (10)

DRAFT -CONFIDENTIAL SUBJECT TO REVISION Project Fusion January 2022 Imperial Capital's View of Potential Houlihan Lokey and Special Committee Valuation DRAFT CONFIDENTIAL SUBJECT TO REVISION

DRAFT -CONFIDENTIAL SUBJECT TO REVISION Imperial's View on Valuation Analysis 2 Implied Share Price Range -Using Current ModusLinkIOI ($70 MM)Current STCN Share Price 1.53 Valuation Date 12/31/2021 ($US in millions, except for share price) Low Midpoint High Implied TEV - IWCO 348.1 $359.7 $372.3 $Less: IWCO ST + LT Debt 361.3 361.3 361.3 Remaining Equity Value - $- $11.0 $Implied TEV - ModusLink 70.0 70.0 70.0 Less: ModusLink ST + LT Debt - - - Remaining Equity Value 70.0 $70.0 $70.0 $Less: STCN Conv. Note + LT Debt 14.9 14.9 14.9 Less: STCN Preferred Stock 35.2 35.2 35.2 Plus: Existing STCN Cash Balance 12.7 12.7 12.7 Plus: Excess Cash at ModusLink 25.0 25.0 25.0 Plus: Potential Seller Calculation of NOLs 39.7 39.7 39.7 Equity Value Range 97.4 $97.4 $108.3 $Shares Outstanding 60.4 60.4 60.4 Implied Share Price Range 1.61 $1.61 $1.79 $ Note: Assumes 2.35% growth rate for both ModusLinkand IWCO, consistent with St. Louis Fed 30-year inflation forecast

DRAFT -CONFIDENTIAL SUBJECT TO REVISION Imperial's View on Valuation Analysis 3 Note: Assumes 2.35% growth rate for both ModusLinkand IWCO, consistent with St. Louis Fed 30-year inflation forecast Implied Share Price Range -Using Operating Company Management ProjectionsCurrent STCN Share Price1.53Valuation Date12/31/2021($US in millions, except for share price)LowMidpointHighImplied TEV - IWCO348.1$359.7$372.3$Less: IWCO ST + LT Debt361.3 361.3 361.3 Remaining Equity Value-$-$11.0$Implied TEV - ModusLink117.6 122.3 127.5 Less: ModusLink ST + LT Debt- - - Remaining Equity Value117.6$122.3$127.5$Less: STCN Conv. Note + LT Debt14.914.914.9Less: STCN Preferred Stock35.235.235.2Plus: Existing STCN Cash Balance 12.712.712.7Plus: Excess Cash at ModusLink25.025.025.0Plus: Potential Seller Calculation of NOLs39.739.739.7Equity Value Range144.9$149.6$165.9$Shares Outstanding 60.4 60.4 60.4 Implied Share Price Range 2.40$2.48$2.75$+/- from Current ModusLink IOI+$0.79+$0.87+$0.95

DRAFT -CONFIDENTIAL SUBJECT TO REVISION Imperial's View on Valuation Analysis 4 Implied Share Price Range -IllustrativeSensitivityLow Midpoint High $70 MM (Current IOI) $1.61 $1.61 $1.79 Incremental Value - - - $80 MM $1.78 $1.78 $1.96 Incremental Value +$0.17 +$0.17 +$0.17 $90 MM $1.94 $1.94 $2.12 Incremental Value +$0.33 +$0.33 +$0.33 $100 MM $2.11 $2.11 $2.29 Incremental Value +$0.50 +$0.50 +$0.50 Mgmt. Projections $2.40 $2.48 $2.75 Incremental Value +$0.79 +$0.87 +$0.95 Illustrative ModusLink TEV Share Price Range Note: IncrementalValuedenotesdifferencefromshare prices calculated from Current ModusLinkIOI.