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                                                                   EXHIBIT 10.30


                               GUARANTY AGREEMENT
                      (Daisytek International Corporation)

      This Guaranty Agreement (as such agreement may be amended, restated, or
otherwise modified from time to time, this "Guaranty Agreement"), is executed
and delivered effective as of April 24, 2002, by the undersigned Guarantor with
respect to the indebtedness, liabilities, and obligations of the Borrowers under
the Credit Agreement defined hereinbelow, as follows:

                                  Definitions:

      The following terms shall have the following meanings where used in this
Guaranty Agreement:

      "Agent" means Bank of America, National Association, in its capacity as
      administrative agent for the Lenders under the Credit Agreement.

      "Borrower" and "Borrowers" have the meanings specified for such terms in
      the Credit Agreement.

      "Credit Agreement" means the certain Credit Agreement, dated as of April
      24, 2002, among Daisytek International Corporation and each of its
      Subsidiaries party thereto, the Agent, and the Lenders, as such agreement
      may be amended, restated, or otherwise modified from time to time.

      "Guaranteed Obligations" means all Obligations and includes all present
      and future loans, advances, liabilities, obligations, covenants, duties,
      and debts owing by the Borrowers, or any of them, to the Agent and/or any
      Lender, arising under or pursuant to the Credit Agreement or any of the
      other Loan Documents, whether or not evidenced by any note, or other
      instrument or document, whether arising from an extension of credit,
      opening of a letter of credit, acceptance, loan, guaranty,
      indemnification, or otherwise, whether direct or indirect, absolute or
      contingent, due or to become due, primary or secondary, as principal or
      guarantor, and including all principal, interest, charges, expenses, fees,
      attorneys' fees, filing fees, and any other sums chargeable to any
      Borrower hereunder or under any of the other Loan Documents, including
      without limitation, (a) all reimbursement obligations, debts, liabilities,
      and other obligations now or hereafter arising from or in connection with
      the Letters of Credit and Credit Support and (b) all debts, liabilities,
      and obligations now or hereafter arising from or in connection with Bank
      Products.

      "Guarantor" means Daisytek International Corporation, a Delaware
      corporation, and its successors and assigns.

      "Lenders" means, collectively, each financial institution from time to
      time party to the Credit Agreement as a "Lender" as defined therein, and
      their respective successors and


GUARANTY AGREEMENT (Daisytek International Corporation) - Page 1
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      assigns and includes the Agent to the extent of any Agent Advance
      outstanding and the Bank to the extent of any Non-Ratable Loan
      outstanding.

Terms defined in the Credit Agreement, wherever used herein, unless otherwise
defined herein, shall have the same meanings in this Guaranty Agreement as are
set forth in the Credit Agreement, and each of such definitions is incorporated
herein by reference. The Guarantor expressly acknowledges that it has read and
is familiar with all such incorporated definitions and agrees that they shall
have the same effect and enforceability in this Guaranty Agreement as though set
forth herein at length.

                                    Recitals:

      A.    Concurrently herewith, the Borrowers, the Guarantor, the Agent, and
the Lenders have executed and entered into the Credit Agreement, which provides
for Revolving Loans by the Agent and the Lenders to the Borrowers and for the
issuance of Letters of Credit and Credit Support on the terms and conditions
prescribed therein.

      B.    This Guaranty Agreement is required by the Credit Agreement, and the
Guarantor's execution and delivery hereof is a condition (among other
conditions) to the making of the Revolving Loans and the issuance of the Letters
of Credit and Credit Support under the Credit Agreement.

      C.    The Guarantor has determined that (i) it will directly and
indirectly benefit from the availability of financing to the Borrowers under the
Credit Agreement and under the other transactions evidenced by and contemplated
in the Loan Documents, (ii) it will benefit, directly and indirectly, from
executing and delivering this Guaranty Agreement, (iii) it is in the Guarantor's
best interest, and within its corporate purpose, to execute and deliver and, if
called upon to do so, to perform its obligations under this Guaranty Agreement,
and (iv) execution and delivery of this Guaranty Agreement and the other Loan
Documents to which the Guarantor is a party is necessary or convenient to the
conduct, promotion, and attainment of the business of the Guarantor.

      NOW, THEREFORE, for good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the Guarantor hereby agrees as
follows:

      1.    Guaranty of Guaranteed Obligations. This Guaranty Agreement is
executed by the Guarantor pursuant to the Credit Agreement and is for the
benefit of the Agent and the Lenders. As an inducement to the Agent and the
Lenders to make the Revolving Loans and extend and continue to extend credit and
other financial accommodations to the Borrowers under the Loan Documents and to
cause the Letter of Credit Issuer to provide Letters of Credit and Credit
Support as provided by the Credit Agreement, the Guarantor, for value received,
does hereby unconditionally, irrevocably, and absolutely guarantee the prompt
and full payment and performance of the Guaranteed Obligations when due and at
all times thereafter.

      2.    Nature of Guaranty. This Guaranty Agreement is and shall be an
absolute, unconditional, irrevocable, and continuing unlimited guaranty of
payment, and not solely of collection. The Guarantor guarantees that the
Guaranteed Obligations will be paid strictly in


GUARANTY AGREEMENT (Daisytek International Corporation) - Page 2
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accordance with the terms of the Credit Agreement and the other Loan Documents,
without setoff or counterclaim, and regardless of any Requirement of Law now or
hereafter in effect in any jurisdiction affecting any of such terms or the
rights of the Agent and the Lenders with respect thereto. The Guaranteed
Obligations may be increased, reduced, or paid in full at any time and from time
to time without affecting the liability or obligation of the Guarantor under
this Guaranty Agreement with respect to all Guaranteed Obligations, whenever
incurred or arising. All Guaranteed Obligations now or hereafter arising shall
be conclusively presumed to have been made or acquired in acceptance hereof. The
Guarantor shall be liable, jointly and severally, with the Borrowers and any
other Person now or hereafter obligated in respect of the Guaranteed
Obligations, or any portion thereof. It is the intention of the Guarantor and
the Agent and the Lenders that the Guarantor's indebtedness, liabilities, and
obligations hereunder shall not be discharged except by the Guarantor's full and
complete payment and performance of such indebtedness, liabilities, and
obligations and then only to the extent of such payment and performance (to the
extent not otherwise satisfied by the Borrowers or any other Person now or
hereafter obligated in respect of the Guaranteed Obligations).

      3.    Representations and Warranties. Each of the representations and
warranties in the Credit Agreement relating to the Guarantor is incorporated by
reference and restated herein. In addition, the Guarantor hereby represents and
warrants to the Agent and the Lenders as follows:

            (a)   The Guarantor has received and will receive a direct and
      indirect material benefit from the transactions evidenced by and
      contemplated in the Credit Agreement and the other Loan Documents. This
      Guaranty Agreement is given by the Guarantor in furtherance of the direct
      and indirect business interests and corporate purposes of the Guarantor,
      and is necessary to the conduct, promotion, and attainment of the
      businesses of the Borrowers and the Guarantor. The value of the
      consideration received and to be received by the Guarantor is reasonably
      worth at least as much as the liability and obligation of the Guarantor
      hereunder.

            (b)   The Guarantor is currently informed of the financial condition
      of each Borrower and any and all other Persons obligated in respect of the
      Guaranteed Obligations and of all other circumstances which a diligent
      inquiry would reveal and which bear upon the risk of nonpayment of the
      Guaranteed Obligations. The Guarantor has read and understands the terms
      and conditions of the Loan Documents. The Guarantor is familiar with, and
      has had an opportunity to review the books and records regarding, the
      financial condition of each Borrower and is familiar with the value of any
      and all property intended to be security for the payment of all or any
      part of the Guaranteed Obligations; provided, however, the Guarantor is
      not relying on such financial condition or the existence or value of any
      such security as an inducement to enter into this Guaranty Agreement. The
      Guarantor has adequate means to obtain, on a continuing basis, information
      concerning the financial condition of each Borrower. The Guarantor has not
      been induced to enter into this Guaranty Agreement on the basis of a
      contemplation, belief, understanding, or agreement that any Person other
      than the Guarantor will be liable to pay the Guaranteed Obligations.
      Neither the Agent nor any Lender has made any representation, warranty, or
      statement to the Guarantor in order to induce the Guarantor to execute
      this Guaranty Agreement.


GUARANTY AGREEMENT (Daisytek International Corporation) - Page 3
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      4.    Covenants. The Guarantor agrees that, for so long as any of the
Guaranteed Obligations or any part thereof is outstanding or any Lender has any
Commitment under the Credit Agreement, the Guarantor will comply with all
covenants set forth in the Credit Agreement which are applicable to the
Guarantor.

      5.    Obligations Not Impaired. The Guarantor agrees that its obligations
hereunder shall not be released, diminished, impaired, reduced, or affected by
the occurrence of any one or more of the following events: (a) lack of
organizational authority of any Borrower; (b) any receivership, insolvency,
bankruptcy, or other proceedings affecting any Borrower or its property; (c)
partial or total release or discharge of any Borrower or other Person from the
performance of any obligation contained in any instrument or agreement
evidencing, governing, or securing all or any part of the Guaranteed
Obligations, whether occurring pursuant to any Requirement of Law or otherwise;
(d) any change in the time, manner, or place of payment of, or in any other term
of, or any increase in the amount of, all the Guaranteed Obligations, or any
portion thereof, or any other amendment or waiver of any term of, or any consent
to departure from any requirement of, any of the Loan Documents; (e) the taking
or accepting of any collateral security for all or any part of the Guaranteed
Obligations, this Guaranty Agreement, or any other Guaranty; (f) the taking or
accepting of any other Guaranty for all or any part of the Guaranteed
Obligations; (g) any failure to acquire, perfect, or continue any Lien on
Collateral securing all or any part of the Guaranteed Obligations or on any
other property securing this Guaranty Agreement; (h) any exchange, release, or
subordination of any Lien on any Collateral, or any release, amendment, waiver,
or subordination of any term of any guaranty of the Guaranteed Obligations or
any other impairment of any collateral security or guaranty now or hereafter
securing all or any part of the Guaranteed Obligations; (i) any failure to
dispose of any collateral security at any time securing all or any part of the
Guaranteed Obligations or this Guaranty Agreement in a commercially reasonable
manner or as otherwise may be required by any Requirement of Law; (j) any
merger, reorganization, consolidation, or dissolution of any Borrower, the
Guarantor, or any other guarantor of the Obligations, any sale, lease, or
transfer of any or all of the assets of any Borrower, the Guarantor, or any
other guarantor of the Obligations, or any change in name, business,
organization, location, composition, structure, or organization of any Borrower,
the Guarantor, or any other guarantor of the Obligations; (k) any Change of
Control or any other change in the shareholders of any Borrower, the Guarantor,
or any other guarantor of the Obligations; (l) any invalidity or
unenforceability of or defect or deficiency in any of the Loan Documents; (m)
avoidance or subordination of the Guaranteed Obligations, or any portion
thereof, (n) the unenforceability of all or any part of the Guaranteed
Obligations against any Borrower because any interest contracted for, charged,
or received in respect of the Guaranteed Obligations exceeds the amount
permitted by any Requirement of Law; (o) any waiver, consent, extension,
forbearance, or granting of any indulgence by the Agent or the Lenders with
respect to the Guaranteed Obligations or any provision of any of the Loan
Documents; (p) any delay in or lack of enforcement of any remedies under the
Loan Documents; (q) the act of creating all or any part of the Guaranteed
Obligations is ultra vires, or the officers or other representatives creating
all or any part of the Guaranteed Obligations acted in excess of their
authority; (r) any election of remedies by the Agent or any of the Lenders; (s)
any of the Loan Documents were forged; (t) the election by the Agent or any of
the Lenders in any proceeding under the Bankruptcy Code of the application of
Section 1111(b)(2) thereof; (u) any borrowing or grant of a security interest by
any Borrower, as debtor-in-possession, under Section 364 of the Bankruptcy Code;
(v) the disallowance in bankruptcy of all or any portion of


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the claims of the Agent or any of the Lenders for payment of any of the
Guaranteed Obligations; or (w) any other circumstance which might otherwise
constitute a legal or equitable discharge or defense available to any Borrower
or the Guarantor (other than that the Guaranteed Obligations shall have been
indefeasibly paid and performed in full).

      6.    Consent and Waiver.

            (a)   The Guarantor hereby waives: (i) notice of acceptance of this
      Guaranty Agreement; (ii) notice of any Revolving Loans, Letters of Credit,
      Credit Support, or other financial accommodations made or extended under
      the Loan Documents or the creation or existence of any Guaranteed
      Obligations; (iii) notice of the amount of the Guaranteed Obligations,
      subject, however, to the Guarantor's right to make inquiry of the Agent to
      ascertain the amount thereof at any reasonable time; (iv) notice of any
      adverse change in the financial condition of any Borrower or any other
      Person or of any other fact that might increase or otherwise change the
      Guarantor's risk with respect to the Guaranteed Obligations, any Borrower,
      or any other Person under this Guaranty Agreement; (v) notice of
      presentment for payment, demand, protest and notice thereof, notice of
      intent to accelerate, notice of acceleration, notice of dishonor,
      diligence or promptness in enforcement, and indulgences of every kind as
      to any promissory notes or other instruments among the Loan Documents;
      (vi) notice of any of the events or circumstances enumerated in paragraph
      5 hereof, and all other notices and demands to which the Guarantor might
      otherwise be entitled (except if such notice is specifically required to
      be given to the Guarantor hereunder or under any of the Loan Documents to
      which the Guarantor is a party); (vii) any requirement that the Agent or
      any of the Lenders protect, secure, perfect, or insure the Agent's Lien or
      any other Lien on any Collateral or other property as security for the
      Guaranteed Obligations or exhaust any right or take any action against any
      Borrower or any other Person or any Collateral or any other property
      subject to a Lien; (viii) the benefit of any statute of limitation
      applicable to enforcement of the Guaranteed Obligations, or any portion
      thereof, or any Liens in the Collateral or other property as security for
      the Guaranteed Obligations or this Guaranty Agreement; (ix) all rights by
      which the Guarantor might be entitled to require suit on an accrued right
      of action in respect of any of the Guaranteed Obligations or require suit
      against any Borrower or any other Person, whether arising pursuant to
      Section 34.02 of the Texas Business and Commerce Code, as amended, Section
      17.001 of the Texas Civil Practice and Remedies Code, as amended, Rule 31
      of the Texas Rules of Civil Procedure, as amended, or otherwise; or (x)
      any other defense of any Borrower or any other Person (other than that the
      Guaranteed Obligations shall have been indefeasibly paid and performed in
      full).

            (b)   The Guarantor hereby waives and agrees not to assert against
      the Agent or any Lender, to the extent allowed by any Requirement of Law:
      (i) any defense, setoff, counterclaim, or claim of any kind or nature
      available to any Borrower or any other Person against the Agent or any
      Lender, arising directly or indirectly from the present or future lack of
      perfection, sufficiency, validity, or enforceability of the Guaranteed
      Obligations or any Lien in the Collateral or any other property as
      security for the Guaranteed Obligations; or (ii) any right or defense
      arising by reason of any claim or


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      defense based upon an election of remedies by the Agent or any Lender
      under any Requirement of Law.

            (c)   The Agent shall have the right to seek recourse against the
      Guarantor to the fullest extent provided for herein, and no election by
      the Agent to proceed in one form of action or proceeding, or against any
      party, or on any obligation, shall constitute a waiver of the Agent's
      right to proceed in any other form of action or proceeding or against
      other parties unless the Agent has expressly waived such right in writing.
      Without limiting the foregoing, no action or proceeding by the Agent or
      any Lender under any document or instrument evidencing the Guaranteed
      Obligations shall serve to diminish the liability of the Guarantor under
      this Guaranty Agreement except to the extent that the Agent and the
      Lenders finally and unconditionally shall have realized indefeasible
      payment in full of the Guaranteed Obligations.

            (d)   The Guarantor waives, and agrees that its liability hereunder
      shall not be affected by, any neglect, delay, omission, failure, or
      refusal of the Agent or any Lender to (i) exercise or properly or
      diligently exercise any right or remedy with respect to any or all of the
      Guaranteed Obligations or the collection thereof or the Agent's Liens or
      any Collateral or other security for or Guaranty of the Guaranteed
      Obligations, or any portion thereof, (ii) take or prosecute, or properly
      or diligently take or prosecute, any action for the collection of any or
      all of the Guaranteed Obligations against any Borrower, the Guarantor or
      any other Person in respect of any or all of the Guaranteed Obligations,
      (iii) foreclose or prosecute, or properly or diligently foreclose or
      prosecute, any action in connection with any agreement, document or
      instrument or arrangement evidencing, securing, or otherwise affecting all
      or any part of the Guaranteed Obligations, or (iv) mitigate damages or
      take any other action to reduce, collect, or enforce the Guaranteed
      Obligations;

            (e)   The Agent may at any time, without the consent of or notice to
      the Guarantor (but otherwise subject to any requirement for consent of any
      or all of the Lenders as may be required by the Credit Agreement), without
      incurring responsibility to the Guarantor and without impairing,
      releasing, reducing, or affecting the obligations of the Guarantor
      hereunder: (i) change the manner, place, or terms of payment of all or any
      part of the Guaranteed Obligations, or renew, extend, modify, rearrange,
      refinance, refund, or alter all or any part of the Guaranteed Obligations;
      (ii) sell, exchange, release, surrender, subordinate, realize upon, or
      otherwise deal with in any manner and in any order any Collateral and any
      Lien securing all or any part of the Guaranteed Obligations or this
      Guaranty Agreement or setoff against all or any part of the Guaranteed
      Obligations; (iii) neglect, delay, omit, fail, or refuse to take or
      prosecute any action for the collection of all or any part of the
      Guaranteed Obligations or this Guaranty Agreement or to take or prosecute
      any action in connection with any of the Loan Documents; (iv) exercise or
      refrain from exercising any rights against any Borrower or other Person,
      or otherwise act or refrain from acting; (v) settle or compromise all or
      any part of the Guaranteed Obligations and subordinate the payment of all
      or any part of the Guaranteed Obligations to the payment of any
      indebtedness, liabilities, or obligations which may be due or become due
      to the Agent or the Lenders or others; (vi) apply any deposit balance,
      fund, payment, collections through process of law or otherwise or other


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      property of any Borrower to the satisfaction and liquidation of
      indebtedness or obligations of any of the Borrowers to the Agent or the
      Lenders, if any, not guaranteed under this Guaranty Agreement; (vii)
      release all or any one or more parties to any one or more of the Loan
      Documents or grant other indulgences to any Borrower or any other Person
      in respect thereof; (viii) amend or modify in any manner and at any time
      (or from time to time) any of the Loan Documents; (ix) partially or fully
      release or substitute any guarantor, or enforce, exchange, release, or
      waive any security for the Guaranteed Obligations, or any portion thereof;
      (x) bring suit against any and all Persons liable or obligated in respect
      of the Guaranteed Obligations, collectively together, jointly and
      severally or separately, and apply any amounts obtained by the Agent in
      such manner as the Agent may elect, subject to the Loan Documents; and
      (xi) apply any sums paid to the Agent or the Lenders by the Guarantor, any
      Borrower, or any other Person to the Guaranteed Obligations as provided by
      the Loan Documents.

            (f)   Should the Agent or any Lender seek to enforce the obligations
      hereunder by action in any court or otherwise, the Guarantor waives any
      requirement, substantive or procedural, that (i) rights or remedies be
      enforced first against any Borrower or any other Person liable for all or
      any part of the Guaranteed Obligations, including, without limitation,
      that a judgment first be rendered against any such Person, or that any
      Borrower or any other such Person should be joined in such cause or (ii)
      enforcement shall first be made against any Collateral or other property
      which shall ever have been given to secure all or any part of the
      Guaranteed Obligations or this Guaranty Agreement. Such waiver shall be
      without prejudice to the Agent's right, at its option, to proceed against
      any Borrower or any other Person, whether by separate action or by
      joinder.

            (g)   If, in connection with the exercise of any of its rights and
      remedies, the Agent or any Lender shall forfeit any of its rights or
      remedies, including, without limitation, its right to a deficiency
      judgment in respect of the Guaranteed Obligations, whether because of any
      Requirement of Law pertaining to "election of remedies," disposition of
      collateral, or the like, the Guarantor hereby consents to such action by
      the Agent or such Lender and waives any claim based upon such action. Any
      action which results in the denial or impairment of any such right to seek
      a deficiency judgment against any Borrower or any other Person shall not
      impair the obligation of the Guarantor to pay the full amount of the
      Guaranteed Obligations or any other obligation of the Guarantor contained
      herein.

            (h)   The Guarantor agrees that, during the existence of a Default
      or Event of Default, the Agent, for the benefit of the Agent and the
      Lenders, is prevented by any Requirement of Law from exercising its right
      to accelerate the maturity of all or any portion of the Guaranteed
      Obligations, to collect interest thereon or to enforce or exercise any
      other right or remedy with respect thereto, or the Agent is prevented from
      taking any action to enforce the Agent's Liens or any other Lien in the
      Collateral or any other property as security for the Guaranteed
      Obligations or realize on the Collateral, the Guarantor shall pay to the
      Agent, for the account of the Agent and the Lenders, upon demand therefor,
      the amount that would otherwise have been due and payable had such rights
      and remedies been permitted to be exercised by the Agent and the Lenders,
      as the case may be.


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            (i)   The Guarantor hereby assumes sole responsibility for keeping
      itself informed of the financial condition of the Borrowers and any other
      Person liable for all or any part of the Guaranteed Obligations, and of
      all other circumstances bearing upon the risk of nonpayment of the
      Guaranteed Obligations or any part thereof. The Guarantor hereby agrees
      that neither the Agent nor any Lender shall have any obligation or duty to
      advise the Guarantor of information known to any of them regarding such
      condition or any such circumstance.

            (j)   The Guarantor consents and agrees that neither the Agent nor
      any of the Lenders shall be under any obligation to marshal any assets in
      favor of the Guarantor or otherwise in connection with obtaining payment
      of any or all of the Guaranteed Obligations from any Person or source.

            (k)   The Guarantor agrees that to the extent permitted under the
      Loan Documents and any Requirement of Law the Agent may, at any time and
      from time to time in its discretion and with or without valuable
      consideration, allow substitution or withdrawal of Collateral or other
      security and release Collateral or other security without impairing or
      diminishing the indebtedness, liabilities, or obligations of the Guarantor
      hereunder.

            (l)   The Guarantor agrees that neither the Agent nor any Lender
      shall be liable for any failure to use diligence or care in the collection
      of the Guaranteed Obligations, in the creation or perfection of any lien,
      security interest or assignment intended as security, or in preserving the
      liability of any Person liable or obligated on the Guaranteed Obligations.

      7.    Default. During the existence of a Default or an Event of Default,
the Guarantor agrees to pay to the Agent, for the benefit of the Agent and the
Lenders, at the Agent's office located in Dallas County, Texas or at such other
place as the Agent may specify to the Guarantor in writing, on demand by the
Agent and without further notice of dishonor and without notice of any kind to
any Borrower, the Guarantor, or any other Person, the full unpaid amount of the
Guaranteed Obligations, in immediately available funds, or such lesser amount,
if any, as may then be due and payable and demanded by the Agent from time to
time. If acceleration of the time for payment of any amount payable by any
Borrower under or with respect to any of the Guaranteed Obligations is stayed or
otherwise delayed upon the insolvency, bankruptcy, or reorganization of any
Borrower, all such amounts otherwise subject to acceleration under the terms of
the Guaranteed Obligations shall nonetheless be payable by the Guarantor
hereunder promptly on demand by the Agent, and the Guarantor expressly and
unconditionally agrees to make such payment in full.

      8.    Taxes.

            (a)   Any and all payments by the Guarantor to the Agent or any
      Lender under this Guaranty Agreement and any other Loan Document shall be
      made free and clear of, and without deduction or withholding for, any
      Taxes. In addition, the Guarantor shall pay all Other Taxes.


GUARANTY AGREEMENT (Daisytek International Corporation) - Page 8
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            (b)   The Guarantor agrees to indemnify and hold harmless the Agent
      and each Lender for the full amount of Taxes or Other Taxes (including any
      Taxes or Other Taxes imposed by any Governmental Authority on amounts
      payable under this Guaranty Agreement) incurred or paid by the Agent or
      any Lender and any liability (including penalties, interest, additions to
      tax, and expenses) arising therefrom or with respect thereto, whether or
      not such Taxes or Other Taxes were correctly or legally asserted. Payment
      under this indemnification shall be made within thirty (30) days after the
      date the Agent or any Lender makes written demand therefor.

            (c)   If the Guarantor shall be required by law to deduct or
      withhold any Taxes or Other Taxes from or in respect of any sum payable
      hereunder to the Agent or any Lender, then:

                  (i)   the sum payable shall be increased as necessary so that
            after making all required deductions and withholdings (including,
            without limitation, deductions and withholdings applicable to
            additional sums payable under this Guaranty Agreement) the Agent or
            such Lender, as the case may be, receives an amount equal to the sum
            it would have received had no such deductions or withholdings been
            made;

                  (ii)  Guarantor shall make such deductions and withholdings;

                  (iii) the Guarantor shall pay the full amount deducted or
            withheld to the relevant taxing authority or other authority in
            accordance with any applicable Requirement of Law; and

                  (iv)  the Guarantor shall also pay to the Agent, for the
            account of each Lender, or each Lender at the time any payment
            hereunder is paid, all additional amounts which the respective
            Lender specifies as necessary to preserve the after-tax yield such
            Lender would have received if such Taxes or Other Taxes had not been
            imposed.

            (d)   Within thirty (30) days after the date of any payment by the
      Guarantor of Taxes or Other Taxes, the Guarantor shall furnish the Agent
      the original or a certified copy of a receipt evidencing payment thereof,
      or other evidence of payment satisfactory to the Agent.

      9.    No Waiver, Remedies.

            (a)   No failure on the part of the Agent to exercise, and no delay
      or omission by the Agent in exercising, any right or remedy hereunder
      shall impair such right or remedy or operate or be construed as a waiver
      thereof or any acquiescence therein, nor shall any single or partial
      exercise of any right or remedy hereunder preclude any other or further
      exercise thereof or the exercise of any other right or remedy hereunder.
      In no event shall any waiver of the provisions of this Guaranty Agreement
      be effective unless the same be in writing and signed by an officer of the
      Agent, and then only in the specific instance and for the purpose given.
      The remedies herein provided are cumulative and not


GUARANTY AGREEMENT (Daisytek International Corporation) - Page 9
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      exclusive of any remedies provided by any Requirement of Law or any of the
      other Loan Documents.

                  (b)   Failure by the Agent or any Lender at any time or times
      hereafter to require strict performance by any Borrower, or by the
      Guarantor or any other Person, of any of the requirements contained in any
      of the Loan Documents now or at any time, from time to time, hereafter
      executed and delivered by any Borrower, the Guarantor, or any such other
      Person shall not waive, affect, or diminish the right to demand strict
      performance thereof, and such right shall not be deemed to have been
      modified or waived by any course of conduct or knowledge of the Agent or
      any Lender, or any agent, officer, or employee thereof, respectively.

                  (c)   No waiver of any Default or Event of Default or any
      other breach, default, or requirement shall operate as a waiver of any
      other Default or Event of Default or the same Default or Event of Default
      on a future occasion, and no action permitted hereunder shall in any way
      affect or impair any of the rights of the Agent or the Lenders or the
      obligations of the Guarantor under this Guaranty Agreement or under any of
      the other Loan Documents. Any determination by a court of competent
      jurisdiction of the amount of any principal and/or interest or other
      amount constituting any of the Guaranteed Obligations shall be conclusive
      and binding on the Guarantor irrespective of whether the Guarantor was a
      party to the suit or action in which such determination was made.

      10.   Notice of Sale. In the event that the Guarantor is entitled to
receive any notice under the UCC, as it exists in the state governing any such
notice, of the sale or other disposition of any Collateral or other property
securing all or any part of the Guaranteed Obligations or this Guaranty
Agreement, it is agreed that at least ten (10) days notice to the Guarantor of
the time and place of any public sale, or the time after which any private sale
or other disposition may be made of any such Collateral or other property, shall
be deemed to be reasonable notice in conformity with such requirements;
provided, however, that notice given to the Guarantor in any other reasonable
manner or at any other reasonable time shall be sufficient.

      11.   Payment by the Guarantor. Whenever the Guarantor pays any sum which
is or may become due under this Guaranty Agreement, written notice must be
delivered to the Agent contemporaneously with such payment. Such notice shall be
effective for purposes of this paragraph when contemporaneously with such
payment the Agent receives such notice in the manner otherwise prescribed for
notices hereunder. For purposes of this Guaranty Agreement, in the absence of
such notice in compliance with the provisions hereof, any sum received by the
Agent or any Lender on account of the Guaranteed Obligations shall be
conclusively deemed paid by the Borrowers.

      12.   The Agent. The Agent shall have all of the rights, powers, and
benefits, for itself and on behalf of the Lenders, as are prescribed by the Loan
Documents. The Guarantor's performance of this Guaranty Agreement is for the
benefit of the Agent and the Lenders according to their respective interests as
provided in the Credit Agreement.

      13.   Cumulative Remedies; No Election. If the Guarantor is or becomes
liable or obligated for the Guaranteed Obligations, by endorsement or otherwise,
other than under this


GUARANTY AGREEMENT (Daisytek International Corporation) - Page 10
<PAGE>
Guaranty Agreement, such liability or obligation shall not be in any manner
impaired or affected hereby, and the rights and remedies of the Agent hereunder
shall be cumulative of any and all other rights and remedies that the Agent or
any Lender may ever have against the Guarantor. All rights and remedies of the
Agent hereunder are cumulative of each other and of every other right or remedy
which the Agent or any Lender may otherwise have at law or in equity or under
any other contract or document, and the exercise of one or more rights or
remedies shall not prejudice or impair the concurrent or subsequent exercise of
other rights or remedies. The exercise by the Agent or any Lender of any right
or remedy hereunder or under any other agreement, document, or instrument, or at
law or in equity, shall not preclude the concurrent or subsequent exercise of
any other right or remedy. This Guaranty Agreement may be enforced from time to
time as often as occasion for enforcement may arise as may be determined by the
Agent, and it is agreed and understood that it shall not be necessary for the
Agent, in order to enforce payment by the Guarantor, first to exercise any
rights or remedies against any Borrower, the Collateral, or any other Person
under the Loan Documents or any Requirement of Law.

      14.   Binding Effect. This Guaranty Agreement is for the benefit of the
Agent (for the benefit of the Agent and the Lenders) and its successors and
assigns, and in the event of an assignment by the Agent or any Lender, or their
respective successors or assigns, of the Guaranteed Obligations, or any part
thereof, the rights and benefits hereunder, to the extent applicable to the
indebtedness, liabilities, and obligations so assigned, shall be deemed
transferred with such indebtedness, liabilities, and obligations without
necessity of further express action. This Guaranty Agreement is binding upon the
Guarantor, and its successors and assigns.

      15.   Reserved.

      16.   Subordination of Indebtedness and Liens. The payment of any and all
principal of and interest on all indebtedness of any Borrower, whether direct,
indirect, fixed, contingent, liquidated, unliquidated, joint, several, or joint
and several, now or hereafter existing, due or to become due to the Guarantor in
respect of any payment by the Guarantor under this Guaranty Agreement (herein
called the "Subordinated Debt"), shall in all respects be subordinate and junior
in right of payment and enforcement to the prior payment and enforcement in full
of the Guaranteed Obligations as provided in this paragraph. Except as may be
expressly permitted by the Credit Agreement, no payment shall be made on or with
respect to the Subordinated Debt unless and until the Guaranteed Obligations
shall have been paid and performed in full. In the event that the Guarantor
shall receive any payment on account of the Subordinated Debt in violation of
this paragraph, the Guarantor will hold, or cause to be held (as the case may
be), any amount so received in trust for the benefit of the Agent, for the
benefit of the Agent and the Lenders, and will forthwith deliver, or cause to be
delivered (as the case may be), such payment to the Agent, in the form received,
to be applied to the Guaranteed Obligations. All Liens, if any, at any time
securing payment of all or any part of the Subordinated Debt (herein called the
"Subordinated Liens") shall be and remain inferior and subordinate to the Liens
securing payment of all or any part of the Guaranteed Obligations, regardless of
whether such Subordinated Liens presently exist or are hereafter created or when
such Subordinated Liens were created, perfected, filed, or recorded (provided
that the foregoing shall not be interpreted or deemed to allow the existence of
any such Liens to the extent otherwise prohibited by the Loan Documents). The
Guarantor shall not exercise or enforce any creditors' rights or remedies that
it


GUARANTY AGREEMENT (Daisytek International Corporation) - Page 11
<PAGE>
may have against any Borrower, or foreclose, repossess, sequester, or otherwise
institute any action or proceeding (whether judicial or otherwise, including,
without limitation, the commencement of, or joinder in, any bankruptcy,
insolvency, reorganization, liquidation, receivership, or other debtor relief
law) to enforce the Subordinated Debt or any Subordinated Lien on any assets of
any Borrower unless and until the Guaranteed Obligations shall have been paid
and performed in full. The terms and provisions of this paragraph are given by
the Guarantor as additional rights and benefits to any and all other
subordination agreements heretofore, concurrently herewith, or hereafter
executed by the Guarantor to or in favor of the Agent or any Lender, and nothing
in this Guaranty Agreement shall be deemed to in any way negate or replace any
other such previous, concurrent, or subsequent subordination agreements. All
promissory notes, ledgers, and other evidences of the Subordinated Debt, and all
mortgages, deed of trusts, security agreements, assignments, and other security
documents, if any, at any time evidencing the Subordinated Liens, shall contain
a specific written notice that the indebtedness and Liens evidenced thereby are
subordinated as provided in this paragraph.

      17.   Right of Setoff. The Guarantor hereby grants to the Agent and each
Lender a right of setoff upon any and all monies, securities, or other property
of the Guarantor, and the proceeds therefrom, now or hereafter held or received
by or in transit to the Agent or any such Lender from or for the account of the
Guarantor, whether for safekeeping, custody, pledge, transmission, collection,
or otherwise, and also upon any and all general or special deposits (to the
extent not prohibited by any Requirement of Law) and credits of the Guarantor,
and any and all claims of the Guarantor against the Agent or any such Lender at
any time existing. The right of setoff granted pursuant to this paragraph shall
be cumulative of and in addition to the Agent's or any such Lender's common law
right of setoff.

      18.   Further Assurances. Upon the request of the Agent, the Guarantor
will, at any time and from time to time, duly execute and deliver to the Agent
any and all such further agreements, documents, and instruments, and supply such
additional information, as may be necessary or advisable, in the opinion of the
Agent, to obtain the full benefits of this Guaranty Agreement.

      19.   Invalid Provisions. If any provision of this Guaranty Agreement is
held to be illegal, invalid, or unenforceable under present or future laws
effective during the term hereof, such provision shall be fully severable, this
Guaranty Agreement shall be construed and enforced as if such illegal, invalid,
or unenforceable provision had never comprised a part hereof, and the remaining
provisions hereof shall remain in full force and effect and shall not be
affected by the illegal, invalid, or unenforceable provision or by its severance
herefrom. Furthermore, in lieu of such illegal, invalid, or unenforceable
provision there shall be added automatically as a part of this Guaranty
Agreement a provision as similar in terms to such illegal, invalid, or
unenforceable provision as may be possible and be legal, valid, and enforceable.
Notwithstanding any language to the contrary contained herein, no provision
herein or in any other Loan Document evidencing the Guaranteed Obligations shall
require the payment or permit the collection of interest in excess of the
maximum permitted by any Requirement of Law.

      20.   Modification in Writing. No modification, consent, amendment, or
waiver of any provision of this Guaranty Agreement, and no consent to any
departure by the Guarantor herefrom, shall be effective unless the same shall be
in writing and signed by a duly authorized


GUARANTY AGREEMENT (Daisytek International Corporation) - Page 12
<PAGE>
officer of the Agent and, as to any modification or amendment, the Guarantor,
and then shall be effective only in the specific instance and for the specific
purpose for which given.

      21.   Notices, Etc. No notice to or demand on, or consent by, the
Guarantor in any case shall, of itself, entitle the Guarantor to any other or
further notice or demand, or right to grant or refuse consent, in similar or
other circumstances. No delay or omission by the Agent in exercising any right
or remedy hereunder shall impair any such right or remedy or be construed as a
waiver thereof or any acquiescence therein, and no single or partial exercise of
any such right or remedy shall preclude other or further exercise thereof or the
exercise of any other right or remedy hereunder.

      22.   Cumulative Rights. All rights and remedies of the Agent hereunder
are cumulative of each other and of every other right or remedy which the Agent
or any Lender may otherwise have under Requirements of Law or under any other
contract or document, and the exercise of one or more rights or remedies shall
not prejudice or impair the concurrent or subsequent exercise of other rights or
remedies.

      23.   Expenses. The Guarantor agrees to pay on demand by the Agent all
reasonable costs and expenses incurred by the Agent in connection with the
negotiation, preparation, execution, and performance of the terms and provisions
of this Guaranty Agreement and any and all amendments, modifications, renewals,
restatements, and/or supplements hereto from time to time, including, without
limitation, Attorney Costs to the Agent. If the Guarantor should breach or fail
to perform any provision of this Guaranty Agreement, the Guarantor agrees to pay
to the Agent all costs and expenses incurred by the Agent in the enforcement of
this Guaranty Agreement from time to time, including, without limitation, the
Attorney Costs incurred by the Agent.

      24.   Governing Law; Choice of Forum; Service of Process.

            (a)   THIS GUARANTY AGREEMENT SHALL BE INTERPRETED AND THE RIGHTS
      AND LIABILITIES OF THE GUARANTOR, THE AGENT, AND THE LENDERS SHALL BE
      DETERMINED IN ACCORDANCE WITH THE INTERNAL LAWS (AS OPPOSED TO THE
      CONFLICT OF LAWS PROVISIONS) OF THE STATE OF TEXAS; PROVIDED THAT THE
      GUARANTOR, THE AGENT, AND THE LENDERS SHALL RETAIN ALL RIGHTS ARISING
      UNDER FEDERAL LAW.

            (b)   ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS GUARANTY
      AGREEMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF TEXAS OR OF THE U.
      S. LOCATED IN DALLAS COUNTY, TEXAS, AND BY EXECUTION AND DELIVERY OF THIS
      GUARANTY AGREEMENT, THE GUARANTOR CONSENTS, FOR ITSELF AND IN RESPECT OF
      ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. THE
      GUARANTOR IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE
      LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT
      MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN
      SUCH JURISDICTION IN RESPECT OF THIS GUARANTY AGREEMENT OR ANY OTHER
      AGREEMENT,


GUARANTY AGREEMENT (Daisytek International Corporation) - Page 13
<PAGE>
      DOCUMENT, OR INSTRUMENT RELATED HERETO. NOTWITHSTANDING THE FOREGOING, (i)
      THE AGENT AND THE LENDERS SHALL HAVE THE RIGHT TO BRING ANY ACTION OR
      PROCEEDING AGAINST THE GUARANTOR OR ITS PROPERTY IN THE COURTS OF ANY
      OTHER JURISDICTION THE AGENT OR THE LENDERS DEEM NECESSARY OR APPROPRIATE
      IN ORDER TO ENFORCE THEIR RIGHTS HEREUNDER AND (ii) THE GUARANTOR
      ACKNOWLEDGES THAT ANY APPEALS FROM THE COURTS DESCRIBED IN THE IMMEDIATELY
      PRECEDING SENTENCE MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE THOSE
      JURISDICTIONS.

            (c)   TO THE MAXIMUM EXTENT ALLOWED BY ANY APPLICABLE REQUIREMENT OF
      LAW, GUARANTOR HEREBY WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS UPON
      IT AND CONSENTS THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED
      MAIL (RETURN RECEIPT REQUESTED) DIRECTED TO GUARANTOR AT ITS ADDRESS SET
      FORTH IN THE CREDIT AGREEMENT AND SERVICE SO MADE SHALL BE DEEMED TO BE
      COMPLETED FIVE (5) DAYS AFTER THE SAME SHALL HAVE BEEN SO DEPOSITED IN THE
      U.S. MAILS POSTAGE PREPAID. NOTHING CONTAINED HEREIN SHALL AFFECT THE
      RIGHT OF THE AGENT OR THE LENDERS TO SERVE LEGAL PROCESS BY ANY OTHER
      MANNER PERMITTED BY LAW.

      25.   No Oral Agreements. THIS GUARANTY AGREEMENT REPRESENTS THE FINAL
AGREEMENT BETWEEN THE GUARANTOR AND THE AGENT RELATING TO THE SUBJECT MATTER OF
THIS GUARANTY AGREEMENT AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF SUCH PARTIES. THERE ARE NO
UNWRITTEN ORAL AGREEMENTS BETWEEN THE GUARANTOR AND THE AGENT. THIS GUARANTY
AGREEMENT SUPERSEDES ALL PRIOR (IF ANY) ORAL AGREEMENTS, ARRANGEMENTS, OR
UNDERSTANDINGS RELATING TO THE SUBJECT MATTER OF THIS GUARANTY AGREEMENT.

      26.   Notices. Unless otherwise specifically provided in this Guaranty
Agreement, all notices or other communications required or permitted to be given
under this Guaranty Agreement shall be given, if to the Agent, as specified in
the Credit Agreement, or if to the Guarantor, as specified for in the Credit
Agreement.

      27.   Survival. All representations, warranties, covenants, and agreements
of the Guarantor in this Guaranty Agreement shall survive the execution of this
Guaranty Agreement.

      28.   Counterparts. This Guaranty Agreement may be executed in any number
of counterparts, each of which shall constitute an original, but all of which
when taken together shall constitute one and the same Guaranty Agreement. A
telecopy of any such executed counterpart shall be deemed valid as an original.

      29.   Litigation; Waiver of Trial by Jury. THE GUARANTOR WAIVES ITS RIGHT
TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR


GUARANTY AGREEMENT (Daisytek International Corporation) - Page 14
<PAGE>
ARISING OUT OF OR RELATED TO THIS GUARANTY AGREEMENT, THE OTHER LOAN DOCUMENTS,
OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, IN ANY ACTION, PROCEEDING,
OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY OF THE PARTIES TO ANY LOAN
DOCUMENT AGAINST ANY OTHER PARTY TO ANY LOAN DOCUMENT OR ANY AGENT-RELATED
PERSON, PARTICIPANT, OR ASSIGNEE, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT
CLAIMS, OR OTHERWISE. THE GUARANTOR AGREES THAT ANY SUCH CLAIM OR CAUSE OF
ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE
FOREGOING, THE GUARANTOR FURTHER AGREES THAT ITS RIGHT TO A TRIAL BY JURY IS
WAIVED BY OPERATION OF THIS PARAGRAPH AS TO ANY ACTION, COUNTERCLAIM, OR OTHER
PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR
ENFORCEABILITY OF THIS GUARANTY AGREEMENT OR ANY PROVISION HEREOF. THIS WAIVER
SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS, OR
MODIFICATIONS TO THIS GUARANTY AGREEMENT.

      30.   Irrevocable Nature of Guaranty. This Guaranty Agreement shall be
irrevocable. The Guarantor acknowledges that any purported or attempted
revocation shall constitute an Event of Default.

      31.   Headings. The paragraph headings in this Guaranty Agreement are for
convenience of identification only and do not limit any of the provisions
hereof.

      32.   Consideration. The Guarantor acknowledges and expressly agrees with
the Agent and each Lender that the execution and delivery of this Guaranty
Agreement by the Guarantor is required solely as a condition to, and is given
solely as inducement for and in consideration of, credit or accommodations
extended or to be extended under the Loan Documents to any or all of the
Borrowers and is not required or given as a condition of any extensions of
credit to the Guarantor.

                  [Remainder of page intentionally left blank]


GUARANTY AGREEMENT (Daisytek International Corporation) - Page 15
<PAGE>
      IN WITNESS WHEREOF, the undersigned has executed this Guaranty Agreement
as of the effective date specified in the introductory paragraph hereinabove.

                                            THE GUARANTOR:

                                            DAISYTEK INTERNATIONAL CORPORATION


                                            By: ________________________________
                                                Ralph Mitchell
                                                Executive Vice President, Chief
                                                Financial Officer, and Treasurer


GUARANTY AGREEMENT (Daisytek International Corporation) - Page 16