Document:

Exhibit
10.25 

Execution Copy 

BOARD
RETENTION AND CONSULTING AGREEMENT

          THIS
BOARD RETENTION AND CONSULTING AGREEMENT (the “Agreement”) is made as of August 28, 2006, by and among Mobile
Storage Group, Inc., a Delaware corporation (the “Company”) with an
office at 7590 North Glenoaks Boulevard, Burbank, CA 91504, MSG WC Holdings Corp., a Delaware corporation (“Parent”)
with an office at c/o Welsh, Carson, Anderson
& Stowe, 320 Park Avenue, Suite 2500, New York, NY 10022 and Jim Martell,
an individual residing at 314 Ringling Pointe Drive, Sarasota, FL 34234 (the “Consultant”).

          WHEREAS,
the parties wish to set forth the terms and conditions upon which the Company will retain the Consultant.

          NOW
THEREFORE, in consideration of the mutual covenants and promises contained herein,
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged by the parties
hereto, the parties agree as follows:

          1.
Term of Retention; Services.

                     (a) The
Company hereby retains the Consultant, and the Consultant hereby accepts such retention as a consultant of the
Company, upon the terms set forth in this Agreement. The term of retention of the Consultant (the “Term”)
will be effective on the date hereof and will end on the second
anniversary of the date hereof (the “Expiration Date”), unless extended pursuant to the next sentence of this
Section
l(a) or earlier terminated pursuant to Section 5 hereof. The
Term shall automatically extend for successive twelve (12) month periods
commencing on the Expiration Date and each subsequent anniversary thereof
unless either party gives written notice to the other party of an
intention not to extend the Term no less than three (3) months prior to the Expiration Date or subsequent anniversary
thereof.

                     (b)
During
the Term, the Consultant shall serve as a consultant to the Company, as
a member of the Board of Directors of Parent (the “Board”), and as a
member of the Executive Committee of the
Board, with commensurate title, duties, responsibility and status. In his capacity as a consultant hereunder, the
Consultant shall report to the Board.

          2.
Extent of Services: Authority.

                     (a)
During the Term, the Consultant shall
perform his duties to the best of his ability
and shall use his best efforts to further the interests of the Company and its
subsidiaries. The Company acknowledges that the Consultant may secure
full-time employment with other persons;
provided that such employment does not otherwise violate the terms hereof. 

                     (b) The
Company and the Consultant acknowledge and agree that the Company shall not exercise general supervision or
control over the time, place or manner in which the Consultant provides
services hereunder, and that in performing services pursuant to this Agreement the Consultant shall be acting and
shall act at all times as an independent contractor only and not as an employee, agent, partner or joint venturer
of or with Parent, the Company, or any subsidiary of the Company. The Consultant acknowledges that he is
solely

responsible for the payment of all
Federal, state, local and foreign taxes that are required by applicable laws or regulations to be paid with
respect to the Quarterly Fees (as defined below).

                    (c)
The Consultant represents and warrants to the Company and to Parent (i) that he is able
to enter into this Agreement, that his ability to enter into this Agreement and
to fully perform his duties are not limited to or restricted by any agreements,
understandings instruments, orders, judgments or decrees to which the
Consultant is a party or by which he is bound,
(ii) the Consultant is not a party to or bound by any employment agreement,
noncompete agreement or confidentiality agreement with any other person
that would in any way limit his ability to
perform his duties hereunder, and (iii) upon the execution and delivery of this
Agreement by the Company, this Agreement shall be the valid and binding
obligation of the Consultant, enforceable in accordance with its terms, in each
case except as set forth on Exhibit A hereto. The Company and Parent likewise represent and warrant that
upon the execution and delivery of this Agreement by the Company and Parent, this
Agreement shall be the valid and binding obligation of Company and
Parent, enforceable in accordance with its terms. For the purposes of this Agreement, the term “person”
means any natural person, corporation, partnership,
limited liability partnership, limited liability company, or any other entity
of any nature.

          3.
Quarterly Fees. During the Term, the Company shall pay the Consultant a quarterly consulting fee of $12,500 (a
“Quarterly
Fee”), which shall be payable on the last day of each fiscal quarter
during the Term; provided that (i) if the Consultant is engaged
hereunder during a fiscal quarter for less
than all of that fiscal quarter, the Quarterly Fee payable hereunder shall be pro-rated based on the actual number of
days the Consultant was engaged hereunder, and (ii) the Quarterly Fee shall be
reduced in any fiscal quarter by the amount of any fees paid during such
fiscal quarter to the Consultant by the Company or Parent as consideration for
his services as a director of Parent or
member of the Executive Committee of the Board.

          4. Reimbursement
of Business Expenses. During the
Term, the Company shall reimburse
the Consultant for all reasonable and necessary out-of-pocket costs incurred or
paid by the Consultant in connection
with, or related to, the performance of his services, duties and responsibilities under this Agreement, in
accordance with reasonable Company policies in effect from time to time and subject to presentation by
the Consultant of documentation, expense statements, vouchers, and/or
such other supporting information as the Company may request.

          5. Termination. The Term may
be terminated by either the Company or the Consultant for any reason (and upon such termination the Consultant
shall resign as a member of the Board
and as a member of the Executive Committee of the Board) at any time during the
Term with 60 days’ prior written
notice of such termination to the other party; provided that, in any
event, the Term shall automatically terminate (i) at such time as the
Consultant no longer serves as a member of
the Board for any reason or (ii) upon consummation of a Sale of the Company (as defined in the Stockholders
Agreement, dated as of August 1, 2006, by and among MSG WC Holdings Corp. and the stockholders party
thereto, as such agreement may be amended
or otherwise modified from time to time). In the event that the Consultant’s
retention shall be terminated (a “Retention
Termination”) for any reason by the Company or the Consultant or otherwise (including expiration
hereof) (the date such Retention Termination occurs, being referred to
herein as the “Retention Termination Date”), the Company shall have

2

no further obligations hereunder.
Except as otherwise specifically agreed in writing by the parties hereto,
the termination of the Term or of this Agreement shall not relieve any of the parties hereto of any obligation arising under
this Agreement prior to termination. For the avoidance of doubt, any termination by either party upon 60 days’
written notice as contemplated above,
or any non-renewal of the Term under Section 1(a) by either party, shall
not be considered a breach by such
party of the terms of this Agreement.

          6.
Non-Competition. The Consultant agrees that during the Consultant’s
retention with the Company and its
Affiliates, including the Term, and during the Restricted Period the Consultant shall not, without the express prior
written consent of the Board, directly or indirectly, whether for his own account or for the account of any other
person, Engage in a Restricted Business that (i) is, either in whole or
in part, doing business within one-hundred (100)
miles of any location at which the Company or any of its subsidiaries is
actually conducting or, to the
knowledge of the Consultant based on the knowledge he would reasonably be expected to have acquired in the ordinary
course of performance of the Consultant’s duties, was actively
contemplating conducting business as of the Retention Termination Date or (ii) provides Restricted Services to any person who on
the Retention Termination Date is a current or prospective customer of the Company or any of its subsidiaries or was a
customer during the twelve
(12)-month period preceding the Retention Termination Date. As used herein,
“Affiliate” means, with respect to
any person, any other person that, directly or indirectly through one or more of its intermediaries, controls, is
controlled by or is under common control with such person. 

                    For
purposes of this Agreement:

                              (i)
“Engaging in a Restricted Business” means engaging in (whether such engagement be as an individual, officer,
director, employee, proprietor, consultant, partner, member, manager or
investor) any business or operations which primarily involves the provision of
Restricted Services unless solely as a holder of less than five percent (5%) of
the outstanding capital stock of an entity whose shares are publicly traded on
a national securities exchange or through a national market system, “Engaging
in a Restricted Business” shall not include: (1) the acquisition, sale, development, ownership,
management or operation of any real property, whether commercial or
residential, or (2) any of the Consultant’s activities undertaken in connection
with his service as a consultant to, or as a member of the board of directors
of, each of the companies listed on Exhibit A attached hereto.

                              
(ii) “Restricted Services” means
acquiring, marketing, leasing, renting or selling containers,
containerized offices, storage trailers, ground level office units and accommodation units.

                              
(iii) “Restricted Period” means one (1) year from the Retention Termination Date.

          7.
Non-Solicitation and Non-Disparagement.

                    (a)
During the Consultant’s retention with the Company and its Affiliates, including the Term, and during the Restricted
Period, the Consultant shall not, without the

3

express prior written consent of the Board, directly
or indirectly, whether for his own benefit or for
the benefit of any person (other than the Company or any Affiliate of the
Company), (i) hire, offer to hire, divert, entice away, solicit or in any other
manner persuade, or attempt to do any of the foregoing (each, a “Solicitation”),
any person who is an officer or employee of the Company or any of its subsidiaries to accept employment
with a third party or engage in a Solicitation with respect to any person who is, or was, at any time
within twelve (12) months prior to the Solicitation, an officer, employee, agent or consultant of the Company
or any of its subsidiaries; or (ii)
engage in a Solicitation with respect to (1) any actual or prospective customer
of the Company or any of its
subsidiaries to become a customer of any third party Engaged in a Restricted Business, or (2) any customer or
supplier to cease doing business with the Company or any of its
subsidiaries. For purposes hereof a “prospective customer” of the Company or
any of its subsidiaries is any potential
customer as to which the Company or any of its subsidiaries has (A) held
negotiations or actually solicited with respect to a business relationship that
has been reduced to “writing”, electronic
or otherwise (i.e., a proposal, term sheet, memorandum of understanding, letter
of intent, proposed contract), or (B) identified as a prospective client in any
budget, business plan, strategic plan
or other internal planning document.

                    (b)
Neither the Company and its subsidiaries, on the one hand, nor the Consultant, on the other hand, shall make any
negative or disparaging statements or communications
regarding the other party.

          8. Confidential
Information. Under no
circumstances and at no time, during or after the Retention Termination Date, shall the Consultant in any manner,
whether directly or indirectly, use
for his own benefit or the benefit of any other person, nor disclose, divulge,
render or offer, any knowledge or
information with respect to the confidential affairs or plans, trade secrets, know-how or any other information that
the Company or its subsidiaries has treated or could reasonably be expected to treat as confidential, proprietary or
sensitive information in respect of
the conduct or details of the business of the Company or any subsidiary thereof
(“Confidential Information”),
except on behalf of the Company and its subsidiaries in the course of the
proper performance of his duties hereunder. The Consultant acknowledges and
agrees that any and all such Confidential
Information will be received and held by him in a confidential capacity, and that disclosure of such
Confidential Information would pose a direct threat to the Company and its subsidiaries in the hands of its
competitors. For purposes of this Section 8, the term “Confidential Information” shall not include
any information which is generally available to the public other than as a result of a disclosure by the
Consultant. Upon the Retention Termination Date, or at any time upon the request
of the Company, the Consultant (or his heirs or personal representatives) shall deliver to the Company all documents
and materials containing Confidential
Information, and all documents, materials and other property belonging to the Company, which in either case are in the
possession or under the control of the Consultant (or his heirs or personal representatives).

          9. Acknowledgement
and Enforcement.

                    (a)
The parties expressly agree that the restrictions and duration of the obligations set forth in Sections 6 through 8 of this Agreement (i) are reasonable and no broader than necessary to protect the legitimate business
interests of the Company and the goodwill thereof, (ii) do not and will not impose an unreasonable burden upon
the Consultant and (iii) are 

4

a significant element of the
consideration hereunder. Because Consultant’s services are unique and
because the Consultant has access to Confidential Information, the parties
hereto agree that the Company would suffer
irreparable harm from a breach of Sections 6, 7, or 8 by the Consultant and that money damages would not
be an adequate remedy for any such breach of this Agreement. Therefore, in the
event a breach or threatened breach of this Agreement, the Company or its
successors or assigns, in addition to other rights and remedies existing in
their favor, shall be entitled to specific
performance and/or injunctive or other equitable relief from a court of
competent jurisdiction in order to enforce, or prevent any violations of, the
provisions hereof (without posting a bond
or other security).

                     (b) In
the event that, notwithstanding the foregoing, any of the provisions of Sections 6 through 8 shall be
declared by an arbitration or a court of competent jurisdiction to be invalid
or unenforceable, the remaining provisions thereof shall nevertheless continue
to be valid and enforceable as though
said invalid or unenforceable provisions had not been included therein. In the event that any provision of Sections
6 through 8 shall be declared by a court of competent
jurisdiction to exceed the maximum restrictiveness such court deems reasonable
and enforceable, the term, condition or aspect deemed reasonable and
enforceable by the court shall be
incorporated into the applicable section of this Agreement, shall replace the
term, condition or aspect deemed by the court to be unreasonable and
unenforceable, and shall remain enforceable to
the fullest extent permitted by law. 

                     (c)
Each of the parties hereto intends
that the covenants of Section 6 shall be deemed to be a series of separate covenants, one for each county or
province of each and every state,
territory or jurisdiction of each country within any geographical area in the
restricted territory, and one for
each month of the time periods covered by such covenants.

          10. Corporate
Opportunity. While the Consultant is retained by the
Company, the Consultant shall disclose to the Board all business,
commercial and investment opportunities or offers presented to the Consultant
or of which the Consultant otherwise becomes aware at any time during the Consultant’s retention by the
Company which relate to or involve any entity or business engaged in: (a) acquiring, marketing,
leasing, renting or selling containers, containerized offices, storage
trailers, ground level office units and accommodation units; or (b) any other business that the Company could
reasonably be expected to pursue in the future based on the Consultant’s knowledge of the Company’s operations
and the industry in which it operates. Nothing herein shall require the Consultant
to violate any confidentiality or other obligation that the Consultant owes to any third party.

          11. Property
of Company. The Consultant
acknowledges that from time to time in the course of providing services
pursuant to his retention, he shall have the opportunity to inspect and use certain property, both tangible and
intangible, of the Company, and the Consultant hereby agrees that such property shall remain the exclusive property of
the Company and the Consultant shall
have no right or proprietary interest in such property, whether tangible or intangible
including the customer and supplier lists, contract forms, books of account,
computer programs and similar property of
the Company.

          12. Payments on Behalf of the Consultant.
The Company and its subsidiaries shall be entitled to deduct or withhold from any amounts owing from the Company
or any of its

5

subsidiaries to the Consultant
any federal, state, local or foreign withholding taxes, excise tax, or employment
taxes (“Taxes”) imposed with respect to the Consultant’s compensation or
other payments from the Company or any of its subsidiaries or the Consultant’s
ownership interest in the Company
(including wages, bonuses, dividends, the receipt or exercise of equity options
and/or the receipt or vesting of
restricted equity). In the event the Company or any of its subsidiaries does not make such deductions or
withholdings, the Consultant shall indemnify the Company and its subsidiaries
for any amounts paid to satisfy such Taxes, excluding any interest, penalties
and related expenses related to the Company’s failure to withhold such Taxes.

          13. Consultant’s Cooperation.
While the Consultant is retained by the Company and after the Retention Termination Date, the Consultant shall cooperate
with the Company and its subsidiaries in any internal investigation, any
administrative, regulatory or judicial investigation or proceeding or any dispute with a third party as reasonably requested
by the Company (including the
Consultant being available to the Company upon reasonable notice for interviews
and factual investigations, appearing
at the Company’s request to give testimony without requiring service of a subpoena or other legal
process, volunteering to the Company all pertinent information and turning over to the Company all
relevant documents which are or may come into the Consultant’s
possession, all at times and on schedules that are reasonably consistent with
the Consultant’s other permitted activities
and commitments). In the event the Company requires the Consultant’s
cooperation in accordance with this Section 13 after the Retention
Termination Date, the Company shall
compensate the Consultant for his time at a reasonable rate to be determined by the Board, as well as reimburse the
Consultant for reasonable travel expenses (including lodging and meals) upon submission of receipts and shall not
unreasonably interfere with the
Consultant’s schedule in any such request.

          14.
Submission To Arbitration. All disputes, claims, or controversies arising
out of or relating to this Agreement
or otherwise relating to the retention of the Consultant or the negotiation, validity, performance or breach
hereof, that are not resolved by mutual agreement shall be resolved solely and exclusively by
binding arbitration to be conducted before JAMS/Endispute, Inc. or its successor. The arbitration shall be held in
New York, New York, before a single
arbitrator and shall be conducted in accordance with the rules and regulations promulgated by JAMS/Endispute, Inc. except to the
extent specifically modified herein, which modification shall only be effective to the extent permitted by
JAMS/Endispute, Inc.’s applicable rules and regulations. The parties
covenant and agree that the arbitration shall commence within thirty (30) days of the date on which a written
demand for arbitration is filed by any party hereto. The arbitrator may enter a default decision against
any party who fails to participate in the arbitration proceedings. In
connection with the arbitration proceeding, the arbitrator shall have the power
to order the production of documents by each party and any third-party
witnesses. In connection with any
arbitration, each party shall provide to the other, no later than seven (7) business
days before the date of the arbitration, the identity of all persons that may
testify at the arbitration and a copy of
all documents that may be introduced at the arbitration or considered or used by a party’s witness or expert. The
arbitrator’s decision and award shall be made and delivered within
ninety (90) days of the selection of the arbitrator. The arbitrator’s decision
shall set forth a reasoned basis for any
award of damages or finding of liability. The decision of the arbitrator
on the points in dispute will be final, unappealable and binding and judgment
on the award may be entered in any court
having jurisdiction thereof. With respect to any claim for damages resulting from the breach of any of the
provisions of this Agreement, the arbitrator shall

6

not have power to award damages
in excess of actual compensatory and incidental damages and shall not
multiply actual damages or award punitive damages or any other damages that are
specifically excluded under this Agreement,
and each party hereby irrevocably waives any claim to such damages,
unless such irrevocable waiver is otherwise prohibited by law. The parties covenant and agree that they will participate in
the arbitration in good faith. The arbitrator may in his or her discretion assess costs and expenses
(including the reasonable legal fees and expenses of the prevailing
party) against any party to a proceeding. Any party unsuccessfully refusing to comply with an order of the arbitrators
shall be liable for costs and expenses, including attorneys’ fees,
incurred by the other party in enforcing the award. This Section 14 applies equally to requests for temporary, preliminary
or permanent injunctive relief, except that in the case of temporary or
preliminary injunctive relief any party may proceed in court without prior arbitration for the limited purpose, in its
sole judgment, of avoiding irreparable harm or maintaining the status quo. The
provisions of this Section 14 shall be enforceable in any court of competent jurisdiction.

          Each
of the parties hereto irrevocably and unconditionally consents to the exclusive
jurisdiction of JAMS/Endispute, Inc. to
resolve all disputes, claims or controversies arising out of or relating to this Agreement or the
negotiation, validity, performance or breach hereof, and further irrevocably
and unconditionally consents to the exclusive jurisdiction of the courts of the
state of New York for the purposes of enforcing this Agreement. Each party
further irrevocably waives any objection to proceeding before
JAMS/Endispute, Inc. or the courts of the state of New York, as the case may be, based upon lack of personal jurisdiction
or to the laying of venue and further irrevocably and unconditionally
waives and agrees not to make a claim in any court that arbitration before JAMS/Endispute, Inc. or an action before a
court in the state of New York, as
the case may be, has been brought in an inconvenient forum. Each of the
parties hereto hereby consents to
service of process by registered mail at the address to which notices are to be
given. Each of the parties hereto agrees that its or his/her submission
to jurisdiction and its or his/her consent
to service of process by mail is made for the express benefit of the other
parties hereto.

          15.
Put/Call Rights.

                    (a)
Consultant Put Right. At any time during the period beginning on
the Retention Termination Date and ending on
the 30th day following the Retention Termination Date (the “Put Period”), the Consultant may elect to sell to
Parent (a) all or part of the 159.29 shares of common stock, par value
$0.01 per share of Parent (the “Common Stock”) purchased by the Consultant on the date hereof (the
“Investment
Shares”) and/or (b) all or part of the Option Shares (as defined below), in each case, on the terms described
in Section 15(c) below (the “Put
Right”).

                    (b)
Parent Call Right. At any time during the period beginning on the Retention Termination Date and ending on the 45th
day following the Retention Termination Date (the “Call Period”), Parent may elect to buy from the
Consultant (a) all or part of the Investment
Shares and/or (b) all or part of the Option Shares, in each case, on the terms described
in Section 15(c) below (the “Call Right”); provided, that
to the extent Parent elects to purchase less
than all of the Consultant’s Investment Shares or Option Shares, Parent must purchase the same percentage of the
Consultant’s
Investment Shares as Option Shares.

7

                    (c)
Put/Call Procedures. The Put Right and Call Right described in Sections 15(a) and 15(b) shall be subject to the
following terms:  

                              (i)
The Person entitled to exercise the Put Right or Call Right pursuant to Sections 15(a) or 15(b), as the case may be, may exercise such rights by delivery of
written notice (a “Put/Call Exercise
Notice”) to the Parent or the Consultant, as applicable, no later than 5:00 pm (Eastern Standard Time) on the
last day of the Put Period or the Call Period, as the case may be. 

                              (ii)
The purchase and sale of the Shares pursuant to this Section 15 shall
be consummated at Parent’s executive offices within 90 days after the Put/Call
Exercise Notice is given. At the closing of
such purchase and sale, the Consultant shall sell, assign, transfer and
deliver the Shares to Parent (free and clear of any liens or encumbrances)
against payment by Parent of the Put/Call
Price in accordance with Section 15(c)(iii) below, and Parent and
the Consultant shall execute and deliver a transfer agreement containing
customary representations and warranties
from the Consultant regarding the sale of the Shares (including, without
limitation, representations and warranties regarding good title to such Shares,
free and clear of any liens or
encumbrances).

                              (iii)
The purchase price payable for the Shares to be acquired pursuant to this Section 15 (the “Put/Call Price”)
shall be determined as of the date of exercise of the Put Right or Call
Right, as applicable, and shall be paid by wire transfer of immediately
available funds to an account specified by
the Consultant and shall equal: 

	
 

	
 

	
 

	
 

	
(A)

	
in the case of exercise of the Put Right, an amount
equal to the lower of (x) the
aggregate purchase price paid by the Consultant for the Shares being sold by the Consultant pursuant to this Section 15 or
(y) the aggregate Fair Market Value of the number of
Shares being sold by the Consultant pursuant to this Section 15; and 

	
 

	
 

	
 

	
 

	
(B)

	
in the case of exercise of the
 Call Right, an amount equal to the higher of (x) the aggregate purchase price paid by the Consultant for the Shares
being sold by the Consultant
 pursuant to this Section 15 or (y) the aggregate Fair Market
 Value of the number of Shares being sold by the Consultant pursuant to this Section
 15;

provided that, to the extent such payment as described
above is not permitted by Parent’s or its subsidiaries’ debt
arrangements, Parent covenants to use commercially reasonable efforts to pay
the Put/Call Price as soon as payment is permitted pursuant to Parent’s and its
subsidiaries’ debt arrangements, however,
Parent shall be under no obligation to attempt to shorten any prohibition
period under such debt arrangement or obtain any waiver or consent of such debt
arrangement to expedite such
payment. Furthermore, to the extent Parent acquires any Option Shares pursuant to
this Section 15 that underly Options that have not been exercised, the
Option (or portion thereof) related to such
repurchased Option Shares shall terminate and be of no further force or effect.

8

Notwithstanding
anything to the contrary set forth herein, Parent has the right to assign its
rights or delegate its duties under this Section 15.

                    (d)
For purposes of this Section 15:

                              (i)
“Option Shares” has the meaning ascribed to such term in the Stock Option Grant
Agreement.

                              (ii)
“Option” has the meaning ascribed to such term in the Stock Option Grant Agreement.

                              (iii)
“Stock Option Grant Agreement” means the letter agreement dated August 28, 2006 between
the Consultant and Parent with respect to the grant by Parent of a non-qualified stock option to the Consultant.

                              (iv)
“Shares” means the shares of Common Stock and/or Option Shares with respect to which
the Put Right or the Call Right, as applicable, is being exercised.

                              (v)
“Fair Market Value” of a Share means, as of the date in question (the “Valuation Date”),
the average of the officially quoted closing selling prices of the stock (or if no selling prices are
quoted, the bid price) on the principal securities exchange or market on which the Share is then
listed for trading (including, for this purpose, the New York Stock Exchange)
(the “Market”) for the 30 trading days immediately prior to the date in
question; provided,
however, that when shares received upon exercise of an option are immediately sold in the open market, the net
sale price received may be used to determine the Fair Market Value of any shares used to pay
the exercise price or applicable withholding taxes and to compute the withholding taxes. If the
Shares are not then listed or quoted in the Market, the Fair Market Value shall, subject to the following
paragraph, be the fair value of the Share determined in good faith by the Board using any reasonable method (the
“Board Determination”).  

If the
Consultant disagrees with the Board Determination, the Consultant may, within
ten (10) days after delivery of the Board Determination, deliver a notice (an “Objection
Notice”) to Parent setting forth the Consultant’s objection to the Board
Determination (including, in reasonable detail, the basis for such objection).
Following Parent’s receipt of the Objection Notice, both the Consultant and Parent agree to work in good faith to
reach agreement as to fair value. If the
Consultant and Parent cannot agree on the fair value within ten (10) days, fair
value shall be determined by a nationally recognized independent appraiser
mutually acceptable to the Consultant and Parent. If the Consultant and Parent
fail to so agree on an independent appraiser, then (a) the Consultant and Parent shall each promptly designate an
independent appraiser, the two of
which shall agree within five (5) days on an independent appraiser to make the determination or (b) if either the Consultant or
Parent fails to designate an independent appraiser under the preceding
clause (a), then the independent appraiser designated by the other shall make the determination. In any event, the independent
appraiser shall deliver its determination within sixty (60) days from the
Valuation Date. The cost of the independent appraiser’s review shall be borne
equally by the Consultant and Parent; provided, however, that if the
fair value determined by the
independent appraiser does not exceed the Board Determination by at least ten
percent

9

(10%), then the cost of such
independent appraiser’s review shall be solely borne by the Consultant.
Notwithstanding the foregoing, if the Board Determination of the aggregate
amount to be paid with respect to Shares to
be repurchased pursuant to the Put Right or the Call Right, as applicable, pursuant to this Section 15 is
less than $500,000, then the Board Determination shall be deemed fair value.

          16.
Inventions and Patents. Consultant acknowledges that all inventions,
innovations, improvements, developments,
methods, designs, analyses, drawings, reports and all similar or related information (whether or not patentable)(“Work
Product”) which relate to any of the Company and its subsidiaries’ actual or anticipated business, research
and development or existing or future products or services that are
conceived, developed or made by Consultant while
engaged by the Company or any of its subsidiaries belong to the Company or its subsidiary, as applicable. Consultant will
promptly disclose such Work Product to the Company or its subsidiary and
perform all actions requested by the Company or its subsidiary (whether during or after engagement) to establish and
confirm such ownership, including, without limitation, execution of any assignments, consents, powers of attorney
or other instruments, as requested
by the Company or its subsidiary.

          17.
Miscellaneous.

                    (a)
All notices required or permitted under this Agreement shall be in
writing and shall be deemed effective upon
personal delivery or upon deposit with the United States Postal Service, by registered or certified mail,
postage prepaid, addressed to the other party at the address shown above ((i) in the case of the
Company, with a copy to Kirkland & Ellis LLP, 153 East 53rd Street, New York, New York
10022, Attn: Michael Movsovich, Esq. and (ii) in the case of the Consultant, with a copy to Bond, Schoeneck
& King, PLLC, One Lincoln Center, Syracuse,
NY 13202, Attn: George J. Getman, Esq., or at such other address or addresses
(for it or its counsel) as either
party shall designate to the other in writing from time to time.

                    (b)
Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine,
feminine or neuter forms, and the singular forms of nouns and pronouns shall
include the plural, and vice versa. “Including” shall mean “including without limitation”.

                    (c)
The language used in this Agreement
shall be deemed to be the language chosen
by the parties hereto to express their mutual intent, and no rule of strict
construction shall be applied against any party.

                    (d)
This Agreement constitutes the entire agreement between the parties and
supersedes and preempts all prior agreements, understandings or representations
by and among the parties, whether written or oral, relating in any way to the
subject matter of this Agreement, but
excluding any breaches thereof by either party prior to the date hereof. This Agreement
shall supersede and supplant any existing agreement between the Company
or any of its Affiliates, including Company, and the Consultant, which existing
agreement shall be deemed to be of no further
force or effect upon the execution and delivery hereof.

10

                    (e) The
provisions of this Agreement may be
amended, modified or waived only by a
written instrument executed by both the Company and the Consultant, and no
course of conduct or course of dealing or failure or delay by any party
hereto in enforcing or exercising any of the
provisions of this Agreement shall affect the validity, binding effect or
enforceability of this Agreement or
be deemed to be an implied waiver of any provision of this Agreement.

                    (f) This
Agreement and its exhibits shall be construed, interpreted and enforced in accordance with the laws of the State
of New York, without giving effect to any choice of law or conflict of law rules or provisions (whether of the
State of New York or any other
jurisdiction) that would cause the application of the laws of any jurisdiction
other than the State of New York.  In
furtherance of the foregoing, the internal law of the State of New York shall control the interpretation and construction
of this Agreement (and all schedules and exhibits hereto), even though under that jurisdiction’s
choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily apply.

                    (g) This
Agreement shall be binding upon and inure to the benefit of both parties and their respective successors and
assigns; provided, however, that the obligations of the Consultant are
personal and shall not be assigned or delegated by the Consultant.

                    (h)
No delays or omission by the Company or the Consultant in exercising any right under this Agreement shall operate as a
waiver of that or any other right. A waiver or consent given by the Company or the Consultant on any one occasion
shall be effective only in that instance and shall not be construed as a bar or
waiver of any right on any other occasion.

                    (i)
The captions appearing in this Agreement are for convenience of reference only and in no way define, limit or affect the
scope or substance of any section of this Agreement.

                    (j)
This Agreement may be executed in separate counterparts, each of which is deemed to be an original and all of which taken
together constitute one and the same agreement.

                    (k)
Section 2(b) and Sections 5 through 9, inclusive and Sections 11 through 17, inclusive, shall survive the termination or
expiration of the Term and continue in full and effect in accordance with their terms, notwithstanding the termination
of Consultant’s retention.

                    (1)
Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid
under applicable law, but if any provision of this Agreement shall be deemed prohibited or invalid
under such applicable law or rule in any jurisdiction, such provision shall be
in effective to the extent of such prohibition or invalidity, and such
prohibition or invalidity shall not invalidate the remainder of such provision
or the other provisions of this Agreement.
This Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or
unenforceable provision had never been contained
herein.

11

          IN
WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above
written.

	
 

	
 

	
 

	
 

	
COMPANY:

	
 

	
 

	
 

	
MOBILE
 SERVICES GROUP, INC.

	
 

	
 

	
 

	
By:

	 
	
 

	
 

	

	
 

	
 

	
Name:
 Christopher A. Wilson

	
 

	
 

	
Title:
 Assistant Secretary

	
 

	
 

	
 

	
 

	
MSG
   WC HOLDINGS CORP.

	
 

	
 

	
 

	
By:

	
	
 

	
 

	

	
 

	
 

	
Name:
 Christopher A. Wilson

	
 

	
 

	
Title:
 Assistant Secretary

	
 

	
 

	
 

	
CONSULTANT:

	
 

	
 

	
 

	 
	
 

	

	
 

	
James Martell

EXHIBIT A

          The
Consultant’s representations, warranties covenants under Section 2(c)
and Section 6 are subject to
Consultant’s relationship and agreements with the following companies:

PBB Global Logistics Income Fund

Global Logistics Acquisition
Corporation

Urban Express

Priority Air Express

Cirrus Design

Segmentz, Inc.

Deutsche Post Global Mail, Ltd.

Ozburn-Hessey Logistics LLC

OHH Acquisition Corporation

2Exhibit
10.26 

CONSULTING AGREEMENT

           THIS CONSULTING AGREEMENT (this “Agreement”) is entered into as of this 1st day of May, 2003 by and between Mobile Storage Group,
Inc., a California corporation, with an address of 7590 North Glenoaks Boulevard, Burbank, California 91504 (the “Company”), and Ronald F. Valenta, residing at 5200 Jessen Drive,
La Canada, California 91011 (“Consultant”).

R E C I
T A L S

          A. WHEREAS, Consultant has training, expertise, and prior experience in areas related to the business or needs of the Company, 

          B. WHEREAS, the Company desires to retain the services of Consultant and pay Consultant fees in connection with the delivery to third parties of certain personal guarantees of Consultant for the
benefit of Company. 

          C. WHEREAS, Consultant desires to furnish his services to the Company on the terms and conditions hereinafter set forth. 

          NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the
parties hereto hereby agree as follows: 

           1. Consulting Services. 

                      1.1 Commencing on the date of this Agreement (the “Effective Date”) and continuing (unless terminated earlier pursuant to Section 4
hereof) until one (1) year from the Effective Date, Consultant shall consult with the Company regarding the tasks set forth in Exhibit A attached hereto and such tasks and assignments as
directed by the Chief Executive Officer or President (the “Executive Officer”). This Agreement shall renew automatically for additional one (1)-year terms unless either party shall
deliver written notice of termination to the other no later than 90 days prior to the end of the then-current term. 

                      1.2 Consultant shall have exclusive control over the means and manner by which the services called for by this Agreement are performed. 

                      1.3 Consultant shall devote so much of his productive time, ability and attention as is necessary to perform consulting services as requested or assigned by the Executive Officer. Consultant may render services of a business or commercial nature to other persons or entities during the term of this Agreement. 

          2. Compensation. In consideration of the services to be rendered by Consultant hereunder, the Company agrees to compensate Consultant as
follows. During the term hereof, the Company will pay Consultant the following amounts: (a) $13,182.79 per month in advance for services rendered pursuant to this Agreement and for the
delivery to third parties 

of certain personal guarantees of Consultant for the benefit of the Company; and (b) $25,000 per year for service as the Chairman of the Board of Directors (the “Board”) of the Company (payable at the times which are consistent with the payment of fees to members of the Board). The foregoing fees shall be Consultant’s sole compensation for all services rendered by Consultant hereunder.

          3. Expenses. The Company shall reimburse Consultant for expenses incurred by him during the term of this Agreement in the performance of his
duties as a consultant for the Company; provided, however, that the Company shall not be obligated to reimburse Consultant for any expenses which have not been approved in advance by the Company. 

          4. Termination. 

                     4.1 Termination for Cause. Consultant understands and agrees that this Agreement may be terminated by the Company for “cause” upon written notice to Consultant
in the manner set forth in Section 7.3 below. “Cause” shall mean a finding by the Board in good faith that such Consultant has (i) been engaged in an act or acts of dishonesty that resulted directly or indirectly in more than an aggregate
of $5,000 in gain or personal enrichment to Consultant at the expense of the Company; (ii) breached this Agreement in any material respect; (iii) been convicted of any felony offense involving fraud, theft or dishonesty at any time; (iv) been
incarcerated for more than 10 days during the term of this Agreement, or (v) failed to substantially perform duties persisting for a reasonable period following written notice. 

                    4.2 Death. In the event of the death of Consultant during the term of this Agreement, the Company shall pay, or cause to be paid, to any one
or more beneficiaries designated by Consultant pursuant to notice to the Company or, failing such designation, to Consultant’s estate, the fees earned provided for herein through the date on which Consultant’s death occurs, 

                    4.3 Disability. In the event that Consultant shall become, by reason of physical or mental disability, incapable of performing his duties and
services in accordance with the provisions of this Agreement, and such incapacity(ies) shall continue for more than 60 days out of any consecutive 120-day period, the Company shall have the right to terminate this Agreement by giving Consultant
written notice of such termination and, thereafter, this Agreement shall immediately terminate. Upon such termination, all compensation shall cease immediately, and the Company shall owe Consultant only the amount of Consultant’s fees earned as
of the date of such termination. 

                    4.4 Effect of Termination. Upon termination or expiration of this Agreement, Consultant shall immediately surrender to the Company all lists,
books, records, materials and documents, together with all copies thereof, and all other property in Consultant’s possession or under Consultant’s control, relating to or used in connection with the past or present business of the Company,
or any affiliate or subsidiary of the Company, Consultant acknowledges and agrees that all such lists, books, records, materials and documents, including, 

2

but not limited to, compilations or collections of suppliers’, contractors’,
employees’ and customers’ names and addresses, are the sole and exclusive property of the Company.

          5. Nondisclosure; Ownership and Protection of Proprietary Rights.

                    5.1 Nondisclosure. Consultant understands and agrees that, in the course of Consultant’s relationship with the Company, Consultant may
acquire confidential information and trade secrets concerning the Company’s operations, future plans, methods of doing business, marketing, costs, and that it would be extremely damaging to the Company if such information were disclosed or made
available to any other person or corporation. In view of the nature of the consulting relationship with the Company contemplated herein, Consultant agrees that, during the term of this Agreement and thereafter, any and all confidential information,
including, without limitation, any customer lists, customer information or addresses, trade secrets, information relating to governmental relations, discoveries, practices, processes, methods or products, whether patentable or not, concerning the
business of the Company or any confidential information concerning or relating to any former or existing suppliers, contractors, employees or customers of the Company or any corporation or business entity that is controlling, controlled by, under
common control with or otherwise affiliated with the Company (collectively, the “Customers”), with respect to the past, present or future business of the Company, or any
affiliate or subsidiary of the Company or any secret, proprietary or confidential information concerning or relating to the past, present or future business of the Company, or any affiliate or subsidiary of the Company (collectively,
“Confidential Information”) that Consultant has acquired or may acquire from any such corporation or business entity or the Company, shall be maintained by Consultant in
confidence and shall not be disclosed or divulged to any third party without the prior written consent of the Executive Officer. Consultant further agrees that Consultant will not utilize such Confidential Information on Consultant’s own behalf
or on behalf of others at any time during the term of this Agreement or thereafter. Consultant agrees that he will not divert or attempt to divert any of the customers or do any act to impair, prejudice or destroy the goodwill of the Company with
the Customers. 

                    5.2 Ownership of Intellectual Property. Consultant acknowledges and agrees that all intellectual property (including without limitation all
ideas, concepts, inventions, plans, developments, software, data, configurations, materials (whether written or machine-readable), designs, drawings, illustrations and photographs, which may be protectable, in whole or in part, under any patent,
copyright, trademark, trade secret or other intellectual property law), developed, created, conceived, made or reduced to practice during the term of this Agreement which (a) relate to the current, future or potential business of the Company, (b)
result from the duties or work performed by Consultant hereunder, or (c) are developed during working time or using the Company’s equipment, supplies, facilities, resources, materials or information, shall be the sole and exclusive property of
the Company and Consultant shall and hereby does assign all right, title and interest in and to such intellectual property to the Company. 

                    5.3 Nonsolicitation. Because Consultant’s solicitation of the Customers of the Company, or any affiliate of the Company, under certain
circumstances would necessarily involve the use or disclosure of Confidential Information, Consultant shall not, either directly or indirectly, at any time during the term of this Agreement and for a period of two (2) years from the date of
termination or expiration of this Agreement (a) call on, solicit or take 

3

away, or attempt to call on, solicit or take away, any past or present Customers of the Company, or any affiliate of the Company, (b) employ, hire or solicit the employment of
any person employed by the Company, or any affiliate of the Company, (c) do any act to impair, prejudice or destroy the goodwill of the Company, or any affiliate of the Company, or to prejudice or impair the relationship or dealing between the
Company, or any affiliate of the Company, and the Customers or (d) assist any other person, firm or corporation in any such acts.

                    5.4 Survival. Subject to the following provisions, the provisions of this Section 5 shall survive the termination of this Agreement,
irrespective of the reason therefor. 

          6. Relief. Consultant acknowledges that (a) the services to be rendered by him are of a special, unique and extraordinary character and it
would be very difficult or impossible to replace such services, (b) the provisions of Section 5 are reasonable and necessary to protect the legitimate interests of the Company, (c) the restrictions contained in Section 5 will not prevent Consultant
from earning or seeking a livelihood, (d) the restrictions contained in Section 5 shall apply in all areas where such application is permitted by law and (e) any violation of this Agreement by Consultant would result in irreparable harm to the
Company, Accordingly, Consultant consents and agrees that, if Consultant violates any of the provisions of this Agreement, the Company shall be entitled to, in addition to other remedies available to it, an injunction to be issued by any court of
competent jurisdiction restraining him from committing or continuing any violation of this Agreement, without the need to post any bond or for any other undertaking, including, without limitation, proving the inadequacy of money damages. 

          In the event that the whole or any part of the provisions of Section 5 hereof shall be determined to be invalid by reason of the extent, duration, scope or other provision set forth therein, the
extent, duration, scope or other provision of that section shall be reduced so as to cure such invalidity and in its reduced form the provisions of Section 5 shall be enforceable in the manner contemplated hereby. The provisions of this Section 6
shall survive the termination of this Agreement, irrespective of the reason therefor. 

          7. Miscellaneous. 

                    7.1 Waiver of Breach. Neither party’s failure to enforce any provision or provisions of this Agreement shall be deemed or in any way
construed as a waiver of any such provision or provisions, nor prevent that party thereafter from enforcing each and every provision of this Agreement. The rights granted the parties herein are cumulative and shall not constitute a waiver of
any party’s right to assert all other legal remedies available to it under the circumstances. 

                    7.2 Successors, Assigns. The Company shall not assign its rights and obligations hereunder without the prior written consent of Consultant;
provided, however, that the Company shall be entitled to assign its rights hereunder to any acquirer, affiliate or successor to the Company without the prior written consent of Consultant. Consultant shall not assign any of his rights or obligations
hereunder without the prior written consent of the Executive Officer. Subject to the foregoing, the provisions of this Agreement shall be binding upon and inure to the benefit of the heirs, legal representatives, executors, successors and assigns of
Consultant and the Company. 

4

                    7.3 Notices. All notices and other communications which are required or permitted to be given under this Agreement shall be in writing and
shall be deemed to be sufficiently given (a) if delivered personally, upon delivery and (b) if delivered by registered or certified mail (return receipt requested), postage prepaid, upon the earlier of actual delivery or upon three (3) days after
being mailed, in each case to Consultant or the Company at the address set forth at the beginning of this Agreement. Either party may, by notice given hereunder, designate any further or different address to which subsequent notices or other
communications shall be sent. 

                    7.4 Severability. If any term or provision of this Agreement is held to be void or unenforceable by any court of competent jurisdiction, only
that objectionable term or provision shall be deleted herefrom while the remainder of the term, provision and agreement shall be enforceable.

                    7.5 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California without regard to
conflicts of laws principles.

                    7.6 Agreement to Arbitrate. 

                              7.6.1 Except for the remedies available to the Company pursuant to Section 6 hereof, any controversy, dispute or claim under, arising out of, in connection with or in relation to this Agreement,
including but not limited to the negotiation, execution, interpretation, construction, coverage, scope, performance, nonperformance, breach, termination, validity or enforceability of this Agreement or any alleged fraud in connection therewith or
this Section 7.6, shall be settled, at the request of either party, by arbitration conducted in accordance with the Commercial Arbitration Rules or then existing rules for commercial arbitration of the American Arbitration Association before a
single arbitrator. The arbitration of such issues, including the determination of any amount of damages suffered by any party hereto by reason of the acts or omissions of any party, shall be binding upon the parties after confirmation of the award
by a court of competent jurisdiction; provided, however, that the parties may attack or appeal any arbitration award in accordance
with applicable law. The parties intend that this Section 7.6 shall be valid, binding, enforceable and irrevocable and shall survive the termination of this Agreement. 

                              7.6.2 Any arbitration proceedings hereunder shall be held in Los Angeles, California. 

                              7.6.3 Judgment upon any award rendered by the arbitrator may be entered by any court having jurisdiction thereof. 

                              7.6.4 The prevailing party shall be entitled to an award of its costs, attorneys’ and other fees and other expenses as part of the arbitrator’s award in connection with each arbitration,
and the non-prevailing party shall bear the costs, fees and expenses incurred by and payable to the arbitrator, and court reporter. 

5

                    7.7 Counterparts. This Agreement may be executed simultaneously in two (2) or more counterparts, each of which shall be deemed to be an
original, but all of which together shall constitute one (1) and the same instrument. Facsimiles of signatures may be taken as the actual signatures, and each party agrees to furnish the other with documents bearing the original signatures within
ten (10) days of the facsimile transmission. 

                    7.8
Complete Agreement Amendments. This Agreement contains the entire understanding
between the parties hereto with respect to the subject matter hereof and supersedes
any prior agreements and  understandings relating thereto, This Agreement may
not be waived, changed, modified, extended or discharged orally, but only by
a written instrument signed by the party against whom enforcement of any waiver,
change, modification, extension or  discharge is sought. 

6

[CONSULTING AGREEMENT SIGNATURE PAGE]

          IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement on the day and year first above written, 

	 	
COMPANY:
	
	 	 
	 	
Mobile Storage Group, Inc.
	
	 	 
	 	
    By:		
    

	 
	 	
            An Authorized Officer
	
	 	 
	 	
CONSULTANT
	
	 	 

	
	 	 

	 	            Ronald F. Valenta

	 	

	

7

EXHIBIT A 

CONSULTANT TASKS

	
1.
		 
		
Consultation regarding strategic business plans, long range plans, goals and objectives
	
	
2.
		 
		
Consultation regarding policies and procedures of the Company
	
	
3.
		 
		
Consultation regarding major operations decisions
	
	
4.
		 
		
Consultation regarding corporate finance transactions
	
	
5.
		 
		
Consultation regarding acquisitions
	
	
6.
		 
		
Consultation regarding vendor and customer relationships
	
	
7.
		 
		
Consultation regarding personnel matters
	

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]