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                                                                   EXHIBIT 10.11

                           FOURTH AMENDED AND RESTATED
                             STOCKHOLDERS' AGREEMENT

     This Fourth Amended and Restated Stockholders' Agreement (this "Agreement")
is entered into as of March 13, 2002, by and among the parties listed on
Schedule A hereto (together with persons who become parties pursuant to Sections
4 or 10(a), the "Stockholders") and DoveBid, Inc., a Delaware corporation
("Company").

                                   BACKGROUND

     A.   Company has issued shares of its Common Stock and Series A, B, C, D-1
and DD Preferred Stock and has entered into the Third Amended and Restated
Stockholders' Agreement, dated as of August 28, 2001, as amended by the
Amendment to Investors' Rights and Stockholders' Agreements entered into as of
November 13, 2001 (as amended, the "Prior Agreement") with the holders of such
shares (the "Prior Stockholders") for the purpose of regulating certain aspects
of their relationship with regard to their ownership of such shares of Common
and Series A, B, C, D-1 and DD Preferred Stock;

     B.   On October 17, 2000, the Company effected a one-for-three reverse
stock split of its outstanding common stock (the "Common Stock"); and on
December 18, 2000, the Company effected a one-for-three reverse stock split of
its outstanding preferred stock (collectively, the "Stock Splits").

     C.   The Board of Directors of the Company has approved and declared
advisable the transaction (the "Transaction") contemplated by the Asset Purchase
Agreement dated as of February 27, 2002 by and among ZoneTrader, Inc.
("ZoneTrader"), the Company and DoveBid Management Services, Inc., a Delaware
corporation and wholly-owned subsidiary of the Company (the "ZoneTrader
Agreement").

     D.   In connection with the Transaction, the parties to this Agreement
desire that this Agreement shall supersede the Prior Agreement and shall
hereafter regulate certain aspects of their relationship with regard to their
ownership of the Series A, B, C, D-1 and DD Preferred Stock and the Common Stock
of Company (collectively, "Company Stock");

     E.   The execution and delivery of this Agreement by the parties hereto is
a condition to the Closing (as defined in the ZoneTrader Agreement) of the
Transaction, and the effectiveness of this Agreement is conditioned upon the
Closing (as defined in the ZoneTrader Agreement) of the Transaction (the
"Effective Time"); and

     F.   Conditioned upon the Effective Time and the execution of this
Agreement by the Company and the Prior Stockholders holding immediately prior to
the Effective Time, (i) shares of the Company's Common Stock representing at
least a majority of all of the outstanding shares of Common Stock immediately
prior to the date of this Agreement, and (ii) shares of the Company's Series A
Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D-1
Preferred Stock and Series DD Preferred Stock (or Common Stock issued upon
conversion thereof) representing at least sixty-six and seven-tenths percent
(66.7%) of all shares of Common

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Stock issuable upon conversion of all outstanding shares of the Company's Series
A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series
D-1 Preferred Stock and Series DD Preferred Stock plus all outstanding shares of
Common Stock, if any, that have been issued upon conversion of such Preferred
Stock as of immediately prior to the date of this Agreement, the Prior Agreement
shall be amended and restated as set forth in this Agreement, each of the
parties to the Prior Agreement shall have no further rights or obligations
thereunder, and each of the parties to the Prior Agreement shall have the rights
and obligations hereunder.

     Now, therefore, in consideration of the mutual promises and covenants
hereinafter set forth, effective at the Effective Time, the parties hereby agree
as follows:

     1.   Authorization. Each Stockholder hereby represents and warrants to
Company and to each other that such Stockholder has full power and authority to
execute, deliver and perform such Stockholder's obligations under this
Agreement. The execution and delivery of this Agreement has been duly and
validly authorized, and all necessary action has been taken, to make this
Agreement a valid and binding obligation of such Stockholder, enforceable
against such Stockholder in accordance with the terms hereof, except that the
enforcement hereof may be subject to bankruptcy, insolvency, reorganization,
moratorium or other similar laws now or hereafter in effect relating to
creditors' rights generally and to general principles of equity (regardless of
whether such enforcement is considered in a proceeding in equity or at law).

     2.   Restrictions on Sale of Company Stock.

          (a)  Except as provided in Sections 3, 4 and 8 of this Agreement, The
Dove Holdings Corporation, a California corporation, Ross Dove and Kirk Dove
(collectively, the "Doves") shall not sell, transfer, assign, pledge,
hypothecate or encumber any of the shares of Common Stock owned by them, except
that, after October 18, 1999:

               (i)   The Doves may sell up to an aggregate of 666,666 shares of
     Common Stock (which share number reflects the effect of the Stock Splits
     and is to be adjusted for stock splits and like events occurring after the
     date hereof) to any other person or entity;

               (ii)  The Doves may sell up to an additional 666,666 shares of
     Common Stock (which share number reflects the effect of the Stock Splits
     and is to be adjusted for stock splits and like events occurring after the
     date hereof) in the aggregate, subject to a right of first refusal by
     Company (or its assignee or assignees) pursuant to the provisions of
     Section 3, provided that (A) Company shall only have ten (10) days to make
     the election provided for in Section 3(c) and (B) if and to the extent
     Company (or its assignee or assignees) does not exercise such right of
     first refusal, the Doves may sell such shares during the six-month period
     provided in Section 3(e) below; and

               (iii) All shares of Common Stock sold by The Dove Holdings
     Corporation pursuant to the Second Amended and Restated Put/Call Agreement,
     dated as of February 25, 2000, between The Dove Holdings Corporation and
     Fremont Ventures I, L.P., shall not be subject to the restrictions of this
     Section 2(a) and shall not count against the number of shares permitted to
     be sold pursuant to Section 2(a)(i) and (ii) hereof.

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For purposes of calculating the number of shares of Common Stock transferred
pursuant to this Section 2(a) prior to the date hereof, if any, such numbers
shall be adjusted to reflect the Stock Splits and are to be adjusted for stock
splits and like events occurring after the date hereof. The restrictions set
forth in this Section 2(a) shall apply until (i) the closing of a bona fide,
firm-commitment, underwritten public offering of Common Stock registered under
the Securities Act of 1933, as amended (the "Act") raising gross proceeds of at
least $50,000,000 in the aggregate; provided, that immediately after such
closing the Company's Common Stock is listed on a national securities exchange
or over-the-counter market (a "Qualifying IPO"); or (ii) any sale of all or
substantially all of the assets of Company or any transfer of Company's capital
stock in connection with a sale of Company, whether such sale is effected by
merger, consolidation, sale of assets or sale or exchange of stock representing
more than fifty percent (50%) of the voting power of the stock of Company (in
terms of number of votes for the election of directors) other than pursuant to
the Series C Preferred Stock Purchase Agreement dated as of February 25, 2000,
as amended by the Amendment to Series C Preferred Stock Purchase Agreement and
Ancillary Agreements dated as of August 7, 2000 (the "Series C Agreement") (a
"Company Sale").

          (b)  Notwithstanding anything else herein to the contrary, no
Stockholder may transfer or attempt to transfer any Company Stock that is
unvested or otherwise subject to an option to repurchase by Company (provided
that the Doves will not violate this restriction if they continue to own,
directly or indirectly, at least the number of shares that are subject to
repurchase pursuant to Section 8 below).

          (c)  No Stockholder may transfer any Company Stock to a competitor of
Company, or to any shareholder, partner or other beneficial holder of an equity
ownership interest in a competitor of Company, other than pursuant to a merger,
combination, or other transaction approved by the Board of Directors of Company.
This Section 2(c) shall not apply to those transfers set forth in Section 3(f)
below.

     3.   Rights of First Refusal.

          (a)  Except as provided in Sections 2, 4 and 8 hereof, before any
shares of Company Stock, or any beneficial interest therein, may be sold,
transferred or assigned (including transfer by operation of law) or pledged,
hypothecated or encumbered by any of the Stockholders (a "Selling Stockholder"),
such shares shall first be offered to Company and the other Stockholders as set
forth below.

          (b)  Selling Stockholder shall deliver a notice (the "Notice") to
Company stating (i) such Stockholder's bona fide intention to sell or transfer
such shares, (ii) the number of shares proposed to be sold or transferred (the
"Noticed Shares"), (iii) the price for which it proposes to sell or transfer the
Noticed Shares (in the case of a transfer not involving a sale such price shall
be deemed to be fair market value of the Noticed Shares as determined pursuant
to Section 3(d) hereof) and the terms of payment of that price and other terms
and conditions of sale, and (iv) the name and address of the proposed purchaser
or transferee. A Selling Stockholder shall not effect, or attempt to effect, any
sale or other transfer for value of Company Stock other than for money or an
obligation to pay money.

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          (c)  For a period of thirty (30) days after receipt of the Notice,
Company shall have the right to purchase all of the Noticed Shares. The price
per share of the Noticed Shares purchased by Company pursuant to this Section 3
shall be, in the case of a sale, the price per share as set forth in the Notice
and, in the case of a transfer not involving a sale, the fair market value of
such shares determined pursuant to Section 3(d) hereof, and the purchase shall
be on the same terms and subject to the same conditions as those set forth in
the Notice. Subject to Section 3(g) below, if Company does not elect to purchase
all the Noticed Shares, it shall give written notice to the other Stockholders
within the thirty (30) day period following receipt of the Notice, and for a
period of twenty (20) days after receipt of the aforementioned notice from
Company, the other Stockholders shall have the right to purchase pro rata all of
the Noticed Shares not purchased by Company (the "Remaining Shares") (pro rata
on the basis of those Stockholders that elect to purchase such Remaining Shares
and the number of shares of Company Stock held by each) on the same terms and
conditions as set forth in the Notice. The price per share of the Noticed Shares
purchased by the Stockholders pursuant to this Section 3 shall be, in the case
of a sale, the price per share as set forth in the Notice and, in the case of a
transfer not involving a sale, the fair market value of such shares determined
pursuant to Section 3(d) hereof, and the purchase shall be on the same terms and
subject to the same conditions as those set forth in the Notice.

          (d)  In the case of a transfer of shares of Company Stock not
involving a sale, the fair market value of the shares shall be determined by
agreement between Company and the transferor or, if they are unable to agree, by
an independent appraiser mutually agreed upon by the parties based upon a
valuation of Company and its subsidiaries as a going concern. This determination
will be final and binding upon all parties and persons claiming under or through
them. Anything in this Section 3(d) to the contrary notwithstanding, if a
Selling Stockholder is not satisfied with the determination of fair market
value, such Stockholder may elect not to proceed with the proposed transfer of
shares of Company Stock not involving a sale and retain such shares under this
Agreement.

          (e)  If Company and/or the other Stockholders do not elect to purchase
all of the shares of Company Stock to which the Notice refers as provided in
Section 3(b) hereof, then none of the shares shall be purchased (unless the
Selling Stockholder elects otherwise during the 20-day period set forth in
Section 3(c) hereof), and the Selling Stockholder may sell or transfer all (but
not less than all) of the shares to any purchaser or transferee named in the
Notice at, in the case of a sale, the price specified in the Notice or at a
higher price, provided that such sale or transfer is consummated within six (6)
months after the date of the Notice to Company.

          (f)  Notwithstanding subsections (a) through (e) of this Section 3,
this Section 3 shall not apply to transfers: (i) in connection with or at any
time subsequent to a Qualifying IPO; (ii) as a result of or at any time after a
Company Sale; (iii) in connection with the separate transfers to the Company by
Fremont Ventures I, L.P., David S. Pottruck or Conway Rulon-Miller of up to an
aggregate of 833,332 shares of Common Stock in exchange for the issuance of up
to an aggregate of 775,278 shares of Series C Preferred Stock, either by way of
exchange or as a rescission followed by a purchase of the Preferred Stock (the
"Series C Exchanges"); (iv) in connection with a distribution of TradeOut Shares
(defined below) by TradeOut, Inc. ("TradeOut") to its stockholders; or (v) in
connection with a sale or, upon

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ZoneTrader's dissolution, a distribution of ZoneTrader Shares (defined below) by
ZoneTrader to any of the holders of its Preferred Stock; provided that the
exception set forth in Subsection (f)(iv) shall have no force or effect herein
if such distribution occurs prior to the Revenue Measurement Date (as defined in
the Asset Purchase Agreement dated as of August 3, 2001 by and between TradeOut
and the Company (the "TradeOut Agreement")). For purposes of this Agreement, the
term "TradeOut Shares" shall mean any shares of Company Stock (including shares
issued upon conversion thereof) issued pursuant to the TradeOut Agreement and
the term "ZoneTrader Shares" shall mean any shares of Company Stock (including
shares issued upon conversion thereof) issued pursuant to the ZoneTrader
Agreement.

          (g)  The rights of other Stockholders to purchase the Remaining Shares
pursuant to Section 3(c) above is conditioned upon each such other Stockholder:
(a) holding at least 100,000 shares (as adjusted for stock splits and like
events occurring after the date hereof) on the date of the notice given by the
Company to the other Stockholders; and (b) being an "accredited investor" (as
defined below), on the date of such other Stockholder's purchase of his, her or
its pro rata portion of the Remaining Shares. For purposes of this Agreement,
the term "accredited investor" shall have the meaning ascribed to it under
Regulation D promulgated under the Act.

     4.   Exempt Transfers. The provisions of Sections 2(a), 2(c) and 3 shall
not apply to any of the following transfers of Company Stock (provided, that the
transferee shall acknowledge and agree, in a writing satisfactory to Company, to
be bound by the terms of this Agreement and shall execute and deliver to Company
a joinder as set forth in Exhibit A to such effect): (a) in the case of a
Stockholder who is an individual, any transfer, either during his lifetime or on
death by will or intestacy, to (i) his ancestors, descendants, spouse, brothers,
sisters, nephews or nieces, or (ii) any trust, family partnership or similar
entity or any custodian, trustee, executor, administrator or other personal
representative for the account or benefit of such Stockholder or such
Stockholder's ancestors, descendants, spouse, brothers, sisters, nephews or
nieces, (b) in the case of a Stockholder which is an entity, any transfer to (i)
another entity or individual that, directly or indirectly, controls, is
controlled by, or is under common control with such Stockholder, (ii) any
current partner, member or shareholder of such Stockholder, (iii) any retired
partner or member of such Stockholder who was a partner or member of such
Stockholder as of, and retired from such Stockholder after, the date the Company
Stock to be transferred was issued to such Stockholder, and (iv) any other
entity or person under common investment management (by an investment manager
who retains voting control of any such shares of Company Stock) with such
Stockholder, or (c) in the case of any Stockholder who is a former holder of
preferred stock of ZoneTrader, to any other former holder of preferred stock of
ZoneTrader.

     5.   Restriction on Public Sale. Anything to the contrary herein
notwithstanding, in the event that Company files a registration statement with
respect to an underwritten public offering under the Act in which any class of
Company's equity securities is offered, no Stockholder (excluding any
Stockholder who is a party to that certain Fourth Amended and Restated
Investors' Rights Agreement dated the date hereof between Company and the
investors in Company's Series A, B, C, D-1 and/or DD Preferred Stock, as such
Agreement shall hereafter be amended) shall effect any public sale or
distribution of any of the shares of Company Stock (which shares, for the
purposes of this Section 5, shall include any and all voting securities

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received by such Stockholder as a stock dividend, stock split or other
recapitalization or similar distribution on or in respect of the shares of
Company Stock) or any of Company's other equity securities, or of any securities
convertible into or exchangeable for such securities other than securities sold
in such public offering, during the period beginning ten (10) days before the
filing of such registration statement with the Securities and Exchange
Commission and ending one hundred eighty (180) days after such registration
statement has become effective or ten (10) days after it has been withdrawn.

     6.   Register of Securities; Removal of Restrictions on Transfer.

          (a)   Company or its duly appointed agent shall maintain separate
registers for the shares of each class and series of Company Stock, in which it
shall register the issue and sale of all such respective shares. Company may
issue stop transfer instructions to such agent and make similar notations in
such register to ensure that all transfers of such securities are made in
accordance with this Agreement. All transfers of such securities shall be
recorded on the register maintained by Company or its agent, and Company shall
be entitled to regard the registered holder of such securities as the actual
holder thereof until Company or its agent is required to record a transfer of
such securities on its register. Subject to the other provisions of this
Agreement restricting or prohibiting transfers, Company or its agent shall be
required to record any such transfer when it receives the security to be
transferred duly and properly endorsed by the registered holder thereof or by
its attorney duly authorized in writing.

          (b)   Any legend endorsed on a certificate evidencing shares of
Company Stock and the stop transfer instructions and record notations with
respect to such shares shall be removed and Company shall issue a certificate
without such legend to the holder of such shares of Company Stock (i) if such
shares are registered under the Act, (ii) if a notification under Regulation A
under the Act is in effect with respect thereto, or (iii) if such shares may be
sold under Rule 144 or Rule 144A under the Act.

          (c)   In addition to any legends required by securities laws or
otherwise reflecting restrictions on transfer of the shares of Company Stock
pursuant to this Agreement, each stock certificate or other document evidencing
shares of Company Stock or other securities held by a Stockholder shall bear a
legend in substantially the following form until such legends may be removed in
accordance with this Agreement:

          "THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A
          STOCKHOLDERS' AGREEMENT, WHICH CONTAINS RESTRICTIONS ON TRANSFER,
          RIGHTS OF FIRST REFUSAL, RIGHTS OF REPURCHASE, AND VOTING RIGHTS. A
          COPY OF SAID STOCKHOLDERS'AGREEMENT MAY BE OBTAINED FROM THE COMPANY
          BY THE HOLDER OF SUCH CERTIFICATE."

          "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED BY
          THE HOLDER SOLELY FOR ITS OWN ACCOUNT FOR THE PURPOSE OF INVESTMENT
          AND NOT WITH A VIEW TO OR FOR SALE IN CONNECTION WITH ANY DISTRIBUTION
          THEREOF. THE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
          ACT OF 1933 ("ACT") OR STATE SECURITIES LAWS AND MAY NOT BE SOLD,
          PLEDGED OR OTHER-

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          WISE TRANSFERRED WITHOUT REGISTRATION UNDER THE ACT OR AN EXEMPTION
          THEREFROM."

     7.    Enforcement: Violation of Transfer Provisions.

           (a)   The parties acknowledge that the remedy at law for any breach
or violation of the provisions of this Agreement shall be inadequate and that,
in the event of any such breach or violation, Company and/or the Stockholders
shall be entitled to injunctive relief in addition to any other remedy, at law
or in equity, to which it may be entitled.

           (b)   Company shall not be required (i) to transfer on its books any
shares of Company Stock or other securities that shall have been sold,
transferred, assigned or pledged in violation of any of the provisions set forth
in this Agreement, or (ii) to treat as owner of such shares of Company Stock or
to accord the right to vote as such owner or to pay dividends to any transferee
to whom such shares shall have been so transferred.

     8.    Repurchase of Dove Stock

           (a)   Subject to Section 8(b) below, Company (or its assignee or
assignees) shall have the option, but not the obligation, to purchase up to a
maximum of 1,155,808 shares of the Common Stock (which share number reflects the
effect of the Stock Splits and is to be adjusted for stock splits and like
events occurring after the date hereof) then held by the Doves, if Ross Dove or
Kirk Dove should terminate his employment with Company due to death or
"Disability" (as defined below). In the event the repurchase provided for in
this Section 8 is exercised, unless otherwise agreed among the Doves, each of
the Doves will be required to sell a portion of such Dove's Common Stock in
proportion to the number of shares held by such Dove immediately prior to the
death or Disability that triggered the repurchase right, divided by the total
number of shares of Common Stock held by all of the Doves at that time. The
repurchase price shall be $0.99 per share (which per share price reflects the
effect of the Stock Splits and is to be adjusted for stock splits and like
events occurring after the date hereof), payable in cash. Company may exercise
its repurchase option by written notice within 60 days after such termination of
employment. The closing of such repurchase shall occur within 75 days after such
termination of employment.

           (b)   The number of shares subject to the repurchase option shall be
reduced by 288,952 (which share number reflects the effect of the Stock Splits
and is to be adjusted for stock splits and like events occurring after the date
hereof) (25%) on June 4 of each year commencing on June 4, 2000, so that Company
will have no repurchase option on and after June 4, 2003. Company's repurchase
option shall also terminate on the first to occur of a Qualifying IPO or a
Company Sale.

           (c)   If and for so long as Company has such repurchase option, it
shall purchase and maintain term life insurance on the lives of Ross Dove and
Kirk Dove. The coverage amount of each policy shall be an amount not less than
the product of (i) the maximum number of shares subject to the repurchase option
at such time, and (ii) $1.32 per share (which per share price reflects the
effect of the Stock Splits and is to be adjusted for stock splits and like
events

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occurring after the date hereof). The beneficiaries of each policy shall be as
designated by Ross Dove and Kirk Dove from time to time.

           (d)   For purposes of this Agreement, "Disability" means that either
Ross Dove or Kirk Dove has been unable substantially to perform his duties for
Company for a period of at least three months because of a physical or mental
disability, and at the end of such period, a fully-qualified physician
reasonably selected by Company certifies that it appears likely that he will be
unable substantially to perform his duties for an indefinite additional period
of time because of such physical or mental incapacity.

           9.    Board of Directors of Company. Pursuant to Article Fifth,
Section 6, of Company's Restated Certificate of Incorporation, as such Section
may hereafter be amended (the "Certificate"), the Stockholders have the right to
elect certain members of Company's Board of Directors (the "Board"). In
accordance with the Certificate, the Stockholders agree:

                 (a)   To nominate to the Board such person or persons who shall
     be reasonably acceptable to Company;

                 (b)   So long as the holders of the Series C Preferred Stock
     have the right to elect two members of the Board pursuant to Article Fifth,
     Section 6.1.2 of the Certificate and (i) SOFTBANK Capital Partners LP,
     SOFTBANK Capital LP and/or SOFTBANK Capital Advisors Fund LP remains a
     holder of at least 75% of the shares of the Series C Preferred Stock they
     acquired pursuant to the Series C Agreement or the Common Stock into which
     such securities may have been converted, then SOFTBANK Capital Partners LP
     ("SOFTBANK") shall have the right to nominate the first member of the Board
     to be elected pursuant to Article Fifth, Section 6.1.2 of the Certificate,
     the name of which nominee shall be conveyed by SOFTBANK to the Company and
     (ii) the Affiliates (defined below) of TPG Partners III, L.P. who are
     parties to this Agreement (collectively, "TPG") hold, as a group, at least
     75% of the shares of Series C Preferred Stock they acquired pursuant to the
     Series C Agreement or the Common Stock into which such securities may be
     converted, then TPG shall have the right to nominate the second member of
     the Board to be elected pursuant to Article Fifth, Section 6.1.2 of the
     Certificate, the name of which nominee shall be conveyed by TPG Partners
     III, L.P. to the Company; provided, however, that TPG's right to nominate
     the second member of the Board will terminate when (i) the number of
     outstanding shares of Series C Preferred Stock originally issued under the
     Series C Agreement falls below 5,000,000 (which share number reflects the
     effect of the Stock Splits and is to be adjusted for stock splits and like
     events occurring after the date hereof) and the SOFTBANK entities specified
     above continue to hold the type and the number of shares specified for the
     SOFTBANK entities above or (ii) the number of outstanding shares of Series
     C Preferred Stock originally issued under the Series C Agreement falls
     below 2,500,000 (which share number reflects the effect of the Stock Splits
     and is to be adjusted for stock splits and like events occurring after the
     date hereof);

                 (c)   So long as the holders of the Series D-1 Preferred Stock
     have the right to elect one member of the Board pursuant to Article Fifth,
     Section 6.1.1 of the Certificate and TradeOut and its stockholders hold at
     least 75% of the shares of

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     Series D-1 Preferred Stock issued pursuant to the TradeOut Agreement or the
     Common Stock into which such securities may be converted, then TradeOut and
     its stockholders shall have the right to nominate the member of the Board
     to be elected pursuant to Article Fifth, Section 6.1.1 of the Certificate,
     the name of which nominee shall be conveyed by General Electric Capital
     Corporation to the Company; provided, however, that such nominee must be an
     officer of General Electric Capital Corporation or its subsidiaries;

                (d)   Each Executive and Audit Committee of the Board, if any,
     shall be comprised of at least one member of the Board designated only by
     directors elected by the holders of the Series C Peferred Stock; and

                (e)   There shall be a compensation committee of the Board (the
     "Compensation Committee") which shall be comprised of at least the two
     members of the Board, one designated only by directors elected by the
     holders of Series A or B Preferred Stock and one designated only by
     directors elected by the holders of Series C Preferred Stock, and the
     compensation, including, without limitation, salary, bonus and other
     benefits and perquisites, of each officer of the Company and its
     subsidiaries shall be subject to approval by a majority of the Compensation
     Committee.

An "Affiliate" means an entity that directly, or indirectly, controls, is
controlled by, or is under common control with, the entity in question. Each of
the Stockholders shall appear in person or by proxy at any annual or special
meeting of Stockholders for the purpose of obtaining a quorum for the election
of directors and shall vote the shares of Company Stock owned by such
Stockholder, either in person or by proxy, at any annual or special meeting of
stockholders of Company called for the purpose of voting on the election of
directors or by written consent of stockholders with respect to the election of
directors, in favor of the election of the directors nominated and approved in
accordance with the Certificate and this Section 9. No Stockholder shall grant
any proxy or enter into and agree to be bound by any voting trust with respect
to Company Stock held by such Stockholder, nor shall any Stockholder enter into
any stockholder agreements or arrangements of any kind with any person with
respect to Company Stock, that is inconsistent with the provisions of this
Agreement. The Company shall reimburse the reasonable travel expenses incurred
by each of the members of the Board in fulfillment of his or her duties to the
Company. The provisions of this Section 9 shall terminate on the first to occur
of a Qualifying IPO or a Company Sale.

     10.   General Provisions.

           (a)    After-Acquired Shares. All of the provisions of this Agreement
apply to (a) all of the shares of Company Stock now owned or which may be
transferred hereafter to, or owned by, any Stockholder and (b) all securities
and instruments (i) received by a Stockholder as a dividend on or other payment
made to holders of Company Stock, or (ii) issued in connection with a split of
Company Stock or as a result of any exchange for or reclassification of Company
Stock or a reorganization, recapitalization, consolidation or merger. In
addition, any person or entity who does not presently own but subsequently
acquires shares of Company Stock may become a party to and bound by all or any
portion of this Agreement by executing a Joinder substantially in the form
attached hereto as Exhibit A, including, but not limited to, Fremont Ventures I,
L.P., David S. Pottruck and Conway Rulon-Miller and/or their respective
Affiliates in

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connection with the Company Stock acquired upon consummation of the Series C
Exchanges, as though such stock has been acquired pursuant to the Series C
Agreement, and any holder of preferred stock of ZoneTrader purchasing shares of
Company Stock from ZoneTrader or receiving shares of Company Stock upon
ZoneTrader's dissolution.

           (b)   Aggregation of Stock. All shares of Company Stock held or
acquired by Affiliates or affiliated persons, including, in each case, general
or limited partners, shareholders or members of such person or entities or
persons under common investment management by an investment manager who retains
voting control of any such shares of Company Stock, shall be aggregated together
for the purpose of determining the availability of any rights under this
Agreement; provided, however, TradeOut's individual ownership shall not be so
aggregated with shares of Company Stock held by a stockholder of TradeOut,
unless such stockholder (a) was a former holder of Preferred Stock of TradeOut,
and (b) holds more than 100,000 shares of Company Stock; provided, further,
ZoneTrader's individual ownership shall not be so aggregated with shares of
Company Stock held by a stockholder of ZoneTrader, unless such stockholder (a)
was a former holder of preferred stock of ZoneTrader, and (b) holds more than
100,000 shares of Company Stock.

           (c)   Rights and Obligations of Transferees. Subject to Section 3(g),
if a Stockholder transfers any or all of its shares of Company Stock to any
person, such person and each subsequent transferee shall have the same rights
hereunder as are applicable to the transferring Stockholder, and shall be
subject to the same obligations as are imposed upon, such Stockholder by the
terms hereof (and all references herein to a Stockholder shall include such
transferee), unless otherwise provided herein. Company will not record any
transfer of Company Stock that was made in violation of any provision of this
Agreement.

           (d)   Owner of Shares. The person in whose name shares of Company
Stock or other securities of the Company are registered in the stock books of
Company shall be treated as the owner thereof for all purposes, including
without limitation, for the giving of notices under this Agreement.

           (e)   Notices. All notices, requests, consents and other
communications required or permitted hereunder shall be in writing and shall be
deemed to have been given for all purposes upon (i) personal delivery, (ii) one
day after being sent, when sent by professional overnight courier service from
and to locations within the United States, (iii) five days after posting when
sent by registered or certified mail, or (iv) on the date of transmission when
sent by facsimile and when receipt has been confirmed, addressed (A) if to
Company at the address or facsimile number, as applicable set forth on the
signature pages hereto; or (B) if to any Stockholder, addressed to such
Stockholder at its address or facsimile number, as applicable, as shown on the
stock register maintained by Company. The addresses for the purposes of this
Section 10(d) may be changed by giving written notice of such change in the
manner provided herein for giving notice. Unless and until such written notice
is received, the address provided herein shall be deemed to continue in effect
for all purposes hereunder.

           (f)   Severability. The parties hereto agree that the terms and
provisions in this Agreement are reasonable and shall be binding and enforceable
in accordance with the terms hereof and, in any event, that the terms and
provisions of this Agreement shall be enforced to the

                                       10

<PAGE>

fullest extent permissible under law. In the event that any term or provision of
this Agreement shall for any reason be adjudged to be unenforceable or invalid,
then such unenforceable or invalid term or provision shall not affect the
enforceability or validity of the remaining terms and provisions of this
Agreement, and the parties hereto hereby agree to replace such unenforceable or
invalid term or provision with an enforceable and valid arrangement, which in
its economic effect shall be as close as possible to the unenforceable or
invalid term or provision.

                  (g)  Governing Law; Parties in Interest. This Agreement shall
be governed by, and construed and enforced in accordance with, the laws of the
State of California as applied to contracts entered into in California by
residents in such State and to be performed entirely within California. All the
terms and provisions of this Agreement shall be binding upon and inure to the
benefit of and be enforceable by the respective successors and assigns of the
parties hereto, whether so expressed or not.

                  (h)  Modification, Amendment and Waiver. The provisions of
this Agreement may not be amended, modified or supplemented, and waivers or
consents to departures from the provisions hereof may not be given, without the
written consent of (i) Stockholders then holding at least 66.7% of the then
outstanding shares of the Company's Series A, B, C, D-1 and DD Preferred Stock
(voting together as a single class on an as-converted basis), (ii) the
Stockholders then holding a majority of the shares of Common Stock then
outstanding, and (iii) to the extent that any amendment, modification or
supplement to this Agreement would materially change the rights or obligations
of Company or any Stockholder in a manner different from any other Stockholder
hereunder, Company or such Stockholder. Any amendment, modification, supplement
or waiver effected in accordance with this Section shall be binding on Company
and each Stockholder and their permitted transferees, successors and assignees.
The failure at any time to enforce any of the provisions of this Agreement shall
in no way be construed as a waiver of such provisions and shall not affect the
right of any of the parties thereafter to enforce each and every provision
hereof in accordance with its terms.

                  (i)  Integration. This Agreement, together with all Exhibits
and Schedules hereto and the documents and agreements referred to herein,
constitute the entire agreement of the parties with respect to the specific
subject matter hereof (e.g., transfer restrictions, rights of first refusal,
restrictions on public sale and voting rights) and thereof and supersedes all
prior agreements and negotiations with respect thereto, including but not
limited to the Prior Agreement. Notwithstanding the foregoing, certain parties
hereto may have entered into stock purchase agreements that contain provisions
with regard to "vesting" of shares and repurchase options in favor of Company.
Those agreements are specifically agreed to deal with a subject matter different
from the subject matter hereof and are therefore not superseded by this
Agreement and are specifically acknowledged to remain in full force and effect.

                  (j)  Headings and Pronouns. The headings of the sections and
paragraphs of this Agreement have been inserted for convenience of reference
only and do not constitute a part of this Agreement. Whenever used herein, words
importing the singular shall include the plural and words importing the
masculine shall include the feminine and neuter, and vice versa, unless the
context otherwise requires.

                                       11

<PAGE>

                  (k)  Counterparts. This Agreement may be executed in any
number of counterparts and by different parties hereto in separate counterparts,
with the same effect as if all parties had signed the same document. All such
counterparts shall be deemed an original, shall be construed together and shall
constitute one and the same agreement.

                  (l)  Injunctive Relief. Without intending to limit the
remedies available to any party, the parties hereto acknowledge that a breach of
any of the covenants contained in this Agreement may result in material
irreparable injury to the other parties for which there is no adequate remedy at
law, that it will not be possible to measure damages for such injuries precisely
and that, in the event of such a breach or threat thereof, the other parties, or
any of them, shall be entitled to obtain a temporary restraining order and a
preliminary or permanent injunction restraining or requiring actions prohibited
or required by this Agreement or such other relief as may be required to enforce
specifically any of the covenants of this Agreement.

                            [Signature Pages Follow]

                                       12

<PAGE>

         In Witness Whereof, the parties hereto have executed this Stockholders'
Agreement as of the day and year first above written.

                                 COMPANY:

                                 DOVEBID, INC.

                                 By: /s/ Ross Dove
                                    --------------------------------------------
                                 Its:  Chairman and CEO
                                 Address: 1241 East Hillsdale Blvd.
                                          Foster City, CA  94404
                                          Facsimile No.: 650-571-5980
                                          Attention: Chief Executive Officer

                                 STOCKHOLDERS:

                                 THE DOVE HOLDINGS CORPORATION

                                 By: /s/ Kirk Dove
                                    --------------------------------------------
                                 Its: President

                                                  /s/ Ross Dove
                                 -----------------------------------------------
                                 ROSS DOVE

                                                  /s/ Kirk Dove
                                 -----------------------------------------------
                                 KIRK DOVE

                                 KOLL MANAGEMENT SERVICES, INC.

                                 By: ___________________________________________
                                 Its:

                                 BAIN & COMPANY, INC.

                                 By: /s/ [ILLEGIBLE]
                                    --------------------------------------------
                                 Its:  Vice President

<PAGE>

                                 COMDISCO, INC.

                                 By: /s/ [ILLEGIBLE]
                                    --------------------------------------------
                                 Title: Vice President
                                       -----------------------------------------

                                 FREMONT VENTURES I, L.P.
                                 a Delaware limited partnership
                                 By: FV, L.P., its General Partner
                                 By: Fremont Resources, Inc.
                                        its General Partner

                                 By: /s/ [ILLEGIBLE]
                                    --------------------------------------------
                                 Its:

                                 F&W INVESTMENTS 2000

                                 By: /s/ [ILLEGIBLE]
                                    --------------------------------------------
                                 It's:  General Partner

                                 MAYFIELD X, L.P.
                                 By:    Mayfield X Management, L.L.C.
                                 Its:   General Partner

                                 By: /s/ A. Grant Heinrich, III
                                    --------------------------------------------
                                 Its:   Managing Director

                                 MAYFIELD ASSOCIATES FUND V, L.P.
                                 By:    Mayfield X Management, L.L.C.
                                 Its:   General Partner

                                 By: /s/ A. Grant Heinrich, III
                                    --------------------------------------------
                                 Its:   Managing Director

<PAGE>

                        MAYFIELD PRINCIPALS FUND, L.L.C.
                        By:    Mayfield X Management, L.L.C.
                        Its:   Managing Member

                        By: /s/ A. Grant Heinrich, III
                           -----------------------------------------------------
                        Its:   Managing Director

                        SOFTBANK CAPITAL PARTNERS LP
                        a Delaware limited partnership
                        By: SOFTBANK Capital Partners LLC
                        its General Partner

                        By: /s/ [ILLEGIBLE]
                           -----------------------------------------------------
                        Its: Administrative Member

                        SOFTBANK CAPITAL ADVISORS FUND LP
                        a Delaware limited partnership
                        By: SOFTBANK Capital Partners LLC
                        its General Partner

                        By: /s/ [ILLEGIBLE]
                           -----------------------------------------------------
                        Its: Administrative Member

                        SUN MICROSYSTEMS, INC.

                        By: /s/ Richard A. Eckleberry
                           -----------------------------------------------------
                                Richard A. Eckleberry
                        Its: Vice President

                        TPG PARTNERS III, L.P.
                        By: TPG GenPar III, L.P.
                        By: TPG Advisors III, Inc.

                        By: /s/ Richard A. Eckleberry
                           -----------------------------------------------------
                                Richard A. Eckleberry
                        Its: Vice President

<PAGE>

                                       TPG PARALLEL III, L.P.
                                       By: TPG GenPar III, L.P.
                                       By: TPG Advisors III, Inc.

                                       By: /s/ Richard A. Eckleberry
                                           -------------------------------------
                                               Richard A. Eckleberry
                                       Title:  Vice President
                                             -----------------------------------

                                       TPG INVESTORS III, L.P.
                                       By: TPG GenPar III, L.P.
                                       By: TPG Advisors III, Inc.

                                       By: /s/ Richard A. Eckleberry
                                           -------------------------------------
                                               Richard A. Eckleberry
                                       Title:  Vice President
                                             -----------------------------------

                                       T/3/ PARTNERS, L.P.
                                       By:   T/3/ GenPar, L.P.
                                       By:   T/3/ Advisors, Inc.

                                       By: /s/ Richard A. Eckleberry
                                           -------------------------------------
                                               Richard A. Eckleberry
                                       Title:  Vice President
                                             -----------------------------------

                                       T/3/ PARALLEL, L.P.
                                       By:   T/3/ GenPar, L.P.
                                       By:   T/3/ Advisors, Inc.

                                       By: /s/ Richard A. Eckleberry
                                           -------------------------------------
                                               Richard A. Eckleberry
                                       Title:  Vice President
                                             -----------------------------------

                                       T/3/ INVESTORS, L.P.
                                       By:   T/3/ GenPar, L.P.
                                       By:   T/3/ Advisors, Inc.

                                       By: /s/ Richard A. Eckleberry
                                           -------------------------------------
                                               Richard A. Eckleberry
                                       Title:  Vice President
                                             -----------------------------------

<PAGE>

                                       FOF PARTNERS III, L.P.
                                       By: TPG GenPar III, L.P.
                                       By: TPG Advisors III, Inc.

                                       By: /s/ Richard A. Ekleberry
                                           -------------------------------------
                                               Richard A. Eckleberry
                                       Title:  Vice President
                                             -----------------------------------

                                       FOF PARTNERS III-B, L.P.
                                       By: TPG GenPar III, L.P.
                                       By: TPG Advisors III, Inc.

                                       By: /s/ Richard A. Ekleberry
                                           -------------------------------------
                                               Richard A. Eckleberry
                                       Title:  Vice President
                                             -----------------------------------

                                       TPG DUTCH PARALLEL III, C.V.
                                       By: TPG GenPar Dutch, L.L.C
                                       By: TPG GenPar III, L.P.
                                       By: TPG Advisors III, Inc.

                                       By: /s/ Richard A. Ekleberry
                                           -------------------------------------
                                               Richard A. Ekleberry
                                       Title:  Vice President
                                              ----------------------------------

                                       T/3/ DUTCH PARALLEL, C.V.
                                       By: T/3/ GenPar Dutch, L.L.C.
                                       By: T/3/ GenPar, L.P.
                                       By: T/3/ Advisors, Inc.

                                       By: /s/ Richard A. Ekleberry
                                           -------------------------------------
                                              Richard A. Ekleberry
                                       Title: Vice President
                                               ---------------------------------

<PAGE>

                                      T.H. eVENTURE PTE LTD

                                      By:_______________________________________
                                      Its:

                                      YAHOO! INC.

                                      By:_______________________________________
                                      Its:

                                      DATASTREAM SYSTEMS, INC.

                                      By:_______________________________________
                                      Its:

                                      HARBOR INVESTORS, L.P.

                                      By: /s/ [Illegible]
                                          --------------------------------------
                                      It's:  General Partner

                                          /s/ David S. Pottruck
                                      ------------------------------------------
                                      DAVID S. POTTRUCK, Trustee of the David S.
                                      Pottruck Trust U/A DTD 9/29/89

                                         /s/ CONWAY RULON-MILLER
                                      ------------------------------------------
                                      CONWAY RULON-MILLER

<PAGE>

                                      TRADEOUT, INC.

                                      By: /s/ Marc Cummins
                                          --------------------------------------
                                      Name:  Marc Cummins
                                      Title: Chairman

                                      ZONETRADER, INC.

                                      By: /s/ David L. Gigerich
                                         ---------------------------------------
                                      Name:  David L. Gigerich
                                      Title: CEO

<PAGE>

                                      SOFTBANK CAPITAL LP
                                      a Delaware limited partnership
                                      By: SOFTBANK Capital Partners LLC
                                      its General Partner

                                      By: /s/ [Illegible]
                                         ---------------------------------------
                                      Its:  Administrative Member<PAGE>

                                                                   EXHIBIT 10.12

                              INDEMNITY AGREEMENT

     This Indemnity Agreement (this "Agreement"), is entered into as of
_________, ____ by and between DoveBid, Inc., a Delaware corporation (the
"Company"), and the undersigned, __________________, a director and/or officer
of the Company (the "Indemnitee").

                                   RECITALS

     A.  The Company is aware that competent and experienced persons are
increasingly reluctant to serve as directors or officers of corporations unless
they are protected by comprehensive liability insurance and/or indemnification,
due to increased exposure to litigation costs and risks resulting from their
service to such corporations, and due to the fact that the exposure frequently
bears no reasonable relationship to the compensation of such directors and
officers;

     B.  Based upon their experience as business managers, the Board of
Directors of the Company (the "Board") has concluded that, to retain and attract
talented and experienced individuals to serve as officers and directors of the
Company, and to encourage such individuals to take the business risks necessary
for the success of the Company, it is necessary for the Company contractually to
indemnify officers and directors and to assume for itself maximum liability for
expenses and damages in connection with claims against such officers and
directors in connection with their service to the Company;

     C.  Section 145 of the General Corporation Law of Delaware, under which the
Company is organized (the "Law"), empowers the Company to indemnify by agreement
its officers, directors, employees and agents, and persons who serve, at the
request of the Company, as directors, officers, employees or agents of other
corporations or enterprises, and expressly provides that the indemnification
provided by the Law is not exclusive; and

     D.  The Company desires and has requested the Indemnitee to serve or
continue to serve as a director or officer of the Company free from undue
concern for claims for damages arising out of or related to such services to the
Company.

     NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby
agree as follows:

     1.  Definitions.
         -----------

         1.1  Agent.  For the purposes of this Agreement, "agent" of the Company
              -----
means any person who is or was a director or officer of the Company or a
subsidiary of the Company; or is or was serving at the request of, for the
convenience of, or to represent the interest of the Company or a subsidiary of
the Company as a director or officer of another foreign or domestic corporation,
partnership, joint venture, trust or other enterprise or an affiliate of the
Company; or was a director or officer of another enterprise or affiliate of the
Company at the

<PAGE>

request of, for the convenience of, or to represent the interests of such
predecessor corporation. The term "enterprise" includes any employee benefit
plan of the Company, its subsidiaries, affiliates and predecessor corporations.

         1.2  Expenses.  For purposes of this Agreement, "expenses" includes all
              --------
direct and indirect costs of any type or nature whatsoever (including, without
limitation, all attorneys' fees and related disbursements and other out-of-
pocket costs) actually and reasonably incurred by the Indemnitee in connection
with the investigation, defense or appeal of a proceeding or establishing or
enforcing a right to indemnification or advancement of expenses under this
Agreement, Section 145 or otherwise; provided, however, that expenses shall not
                                     --------  -------
include any judgments, fines, ERISA excise taxes or penalties or amounts paid in
settlement of a proceeding.

         1.3  Proceeding. For the purposes of this Agreement, "proceeding" means
              ----------
any threatened, pending or completed action, suit or other proceeding, whether
civil, criminal, administrative, investigative or any other type whatsoever.

         1.4  Subsidiary. For purposes of this Agreement, "subsidiary" means any
              ----------
corporation of which more than fifty percent (50%) of the outstanding voting
securities is owned directly or indirectly by the Company, by the Company and
one or more of its subsidiaries or by one or more of the Company's subsidiaries.

     2.  Agreement to Serve.  The Indemnitee agrees to serve and/or continue to
         ------------------
serve as an agent of the Company, at the will of the Company (or under separate
agreement, if such agreement exists), in the capacity the Indemnitee currently
serves as an agent of the Company, faithfully and to the best of his ability, so
long as he is duly appointed or elected and qualified in accordance with the
applicable provisions of the charter documents of the Company or any subsidiary
of the Company; provided, however, that the Indemnitee may at any time and for
                --------  -------
any reason resign from such position (subject to any contractual obligation that
the Indemnitee may have assumed apart from this Agreement), and the Company or
any subsidiary shall have no obligation under this Agreement to continue the
Indemnitee in any such position.

     3.  Directors' and Officers' Insurance.  The Company shall, to the extent
         ----------------------------------
that the Board determines it to be economically reasonable, maintain a policy of
directors' and officers' liability insurance ("D&O Insurance"), on such terms
and conditions as may be approved by the Board.

     4.  Mandatory Indemnification.  Subject to Section 9 below, the Company
         -------------------------
shall indemnify the Indemnitee:

         4.1  Third Party Actions. If the Indemnitee is a person who was or is a
              -------------------
party or is threatened to be made a party to any proceeding (other than an
action by or in the right of the Company) by reason of the fact that he is or
was an agent of the Company, or by reason of anything done or not done by him in
any such capacity, against any and all expenses and liabilities of any type
whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes
or penalties and amounts paid in settlement) actually and reasonably incurred by
him in connection with the investigation, defense, settlement or appeal of such
proceeding if he acted in

                                      -2-

<PAGE>

good faith and in a manner he reasonably believed to be in, or not opposed to,
the best interests of the Company and, with respect to any criminal action or
proceeding, had no reasonable cause to believe his conduct was unlawful; and

         4.2  Derivative Actions.  If the Indemnitee is a person who was or is a
              ------------------
party or is threatened to be made a party to any proceeding by or in the right
of the Company to procure a judgment in its favor by reason of the fact that he
is or was an agent of the Company, or by reason of anything done or not done by
him in any such capacity, against any amounts paid in settlement of any such
proceeding and all expenses actually and reasonably incurred by him in
connection with the investigation, defense, settlement or appeal of such
proceeding if he acted in good faith and in a manner he reasonably believed to
be in, or not opposed to, the best interests of the Company; except that no
                                                             ------
indemnification under this subsection shall be made in respect of any claim,
issue or matter as to which such person shall have been finally adjudged to be
liable to the Company by a court of competent jurisdiction due to willful
misconduct of a culpable nature in the performance of his duty to the Company,
unless and only to the extent that the Court of Chancery or the court in which
such proceeding was brought shall determine upon application that, despite the
adjudication of liability but in view of all the circumstances of the case, such
person is fairly and reasonably entitled to indemnity for such amounts which the
Court of Chancery or such other court shall deem proper; and

         4.3  Exception for Amounts Covered by Insurance.  Notwithstanding the
              ------------------------------------------
foregoing, the Company shall not be obligated to indemnify the Indemnitee for
expenses or liabilities of any type whatsoever (including, but not limited to,
judgments, fines, ERISA excise taxes or penalties and amounts paid in
settlement) to the extent such have been paid directly to the Indemnitee by D&O
Insurance.

     5.  Partial Indemnification and Contribution.
         ----------------------------------------

         5.1  Partial Indemnification.  If the Indemnitee is entitled under any
              -----------------------
provision of this Agreement to indemnification by the Company for some or a
portion of any expenses or liabilities of any type whatsoever (including, but
not limited to, judgments, fines, ERISA excise taxes or penalties and amounts
paid in settlement) incurred by him in the investigation, defense, settlement or
appeal of a proceeding but is not entitled, however, to indemnification for all
of the total amount thereof, then the Company shall nevertheless indemnify the
Indemnitee for such total amount except as to the portion thereof to which the
Indemnitee is not entitled to indemnification.

         5.2  Contribution.  If the Indemnitee is not entitled to the
              ------------
indemnification provided in Section 4 for any reason other than the statutory
limitations set forth in the Law, then in respect of any threatened, pending or
completed proceeding in which the Company is jointly liable with the Indemnitee
(or would be if joined in such proceeding), the Company shall contribute to the
amount of expenses (including attorneys' fees), judgments, fines and amounts
paid in settlement actually and reasonably incurred and paid or payable by the
Indemnitee in such proportion as is appropriate to reflect (i) the relative
benefits received by the Company on the one hand and the Indemnitee on the other
hand from the transaction from which such

                                      -3-

<PAGE>

proceeding arose and (ii) the relative fault of the Company on the one hand and
of the Indemnitee on the other hand in connection with the events which resulted
in such expenses, judgments, fines or settlement amounts, as well as any other
relevant equitable considerations. The relative fault of the Company on the one
hand and of the Indemnitee on the other hand shall be determined by reference
to, among other things, the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent the circumstances resulting in
such expenses, judgments, fines or settlement amounts. The Company agrees that
it would not be just and equitable if contribution pursuant to this Section 5
were determined by pro rata allocation or any other method of allocation which
does not take account of the foregoing equitable considerations.

     6.  Mandatory Advancement of Expenses.
         ---------------------------------

         6.1  Advancement. Subject to Section 9 below, the Company shall advance
              -----------
all expenses incurred by the Indemnitee in connection with the investigation,
defense, settlement or appeal of any proceeding to which the Indemnitee is a
party or is threatened to be made a party by reason of the fact that the
Indemnitee is or was an agent of the Company or by reason of anything done or
not done by him in any such capacity. The Indemnitee hereby undertakes to
promptly repay such amounts advanced only if, and to the extent that, it shall
ultimately be determined that the Indemnitee is not entitled to be indemnified
by the Company under the provisions of this Agreement, the Certificate of
Incorporation or Bylaws of the Company, the Law or otherwise. The advances to be
made hereunder shall be paid by the Company to the Indemnitee within thirty (30)
days following delivery of a written request therefor by the Indemnitee to the
Company.

         6.2  Exception. Notwithstanding the foregoing provisions of this
              ---------
Section 6, the Company shall not be obligated to advance any expenses to the
Indemnitee arising from a lawsuit filed directly by the Company against the
Indemnitee if an absolute majority of the members of the Board reasonably
determines in good faith, within thirty (30) days of the Indemnitee's request to
be advanced expenses, that the facts known to them at the time such
determination is made demonstrate clearly and convincingly that the Indemnitee
acted in bad faith. If such a determination is made, the Indemnitee may have
such decision reviewed by another forum, in the manner set forth in Sections
8.3, 8.4 and 8.5 hereof, with all references therein to "indemnification" being
deemed to refer to "advancement of expenses," and the burden of proof shall be
on the Company to demonstrate clearly and convincingly that, based on the facts
known at the time, the Indemnitee acted in bad faith. The Company may not avail
itself of this Section 6.2 as to a given lawsuit if, at any time after the
occurrence of the activities or omissions that are the primary focus of the
lawsuit, the Company has undergone a change in control. For this purpose, a
change in control shall mean a given person or group of affiliated persons or
groups increasing their beneficial ownership interest in the Company by at least
twenty (20) percentage points without advance Board approval.

     7.  Notice and Other Indemnification Procedures.
         -------------------------------------------

         7.1  Promptly after receipt by the Indemnitee of notice of the
commencement of or the threat of commencement of any proceeding, the Indemnitee
shall, if the Indemnitee

                                      -4-

<PAGE>

believes that indemnification with respect thereto may be sought from the
Company under this Agreement, notify the Company of the commencement or threat
of commencement thereof.

         7.2  If, at the time of the receipt of a notice of the commencement of
a proceeding pursuant to Section 7.1 hereof, the Company has D&O Insurance in
effect, the Company shall give prompt notice of the commencement of such
proceeding to the insurers in accordance with the procedures set forth in the
respective policies. The Company shall thereafter take all necessary or
desirable action to cause such insurers to pay, on behalf of the Indemnitee, all
amounts payable as a result of such proceeding in accordance with the terms of
such D&O Insurance policies.

         7.3  In the event the Company shall be obligated to advance the
expenses for any proceeding against the Indemnitee, the Company, if appropriate,
shall be entitled to assume the defense of such proceeding, with counsel
approved by the Indemnitee (which approval shall not be unreasonably withheld),
upon the delivery to the Indemnitee of written notice of its election to do so.
After delivery of such notice, approval of such counsel by the Indemnitee and
the retention of such counsel by the Company, the Company will not be liable to
the Indemnitee under this Agreement for any fees of counsel subsequently
incurred by the Indemnitee with respect to the same proceeding, provided that:
(a) the Indemnitee shall have the right to employ his own counsel in any such
proceeding at the Indemnitee's expense; (b) the Indemnitee shall have the right
to employ his own counsel in connection with any such proceeding, at the expense
of the Company, if such counsel serves in a review, observer, advice and
counseling capacity and does not otherwise materially control or participate in
the defense of such proceeding; and (c) if (i) the employment of counsel by the
Indemnitee has been previously authorized by the Company, (ii) the Indemnitee
shall have reasonably concluded that there may be a conflict of interest between
the Company and the Indemnitee in the conduct of any such defense or (iii) the
Company shall not, in fact, have employed counsel to assume the defense of such
proceeding, then the fees and expenses of the Indemnitee's counsel shall be at
the expense of the Company.

     8.  Determination of Right to Indemnification.
         -----------------------------------------

         8.1  To the extent the Indemnitee has been successful on the merits or
otherwise in defense of any proceeding referred to in Section 4.1 or 4.2 of this
Agreement or in the defense of any claim, issue or matter described therein, the
Company shall indemnify the Indemnitee against expenses actually and reasonably
incurred by him in connection with the investigation, defense or appeal of such
proceeding, or such claim, issue or matter, as the case may be.

         8.2  In the event that Section 8.1 is inapplicable, or does not apply
to the entire proceeding, the Company shall nonetheless indemnify the Indemnitee
unless the Company shall prove by clear and convincing evidence to a forum
listed in Section 8.3 below that the Indemnitee has not met the applicable
standard of conduct required to entitle the Indemnitee to such indemnification.

         8.3  The Indemnitee shall be entitled to select the forum in which the
validity of the Company's claim under Section 8.2 hereof that the Indemnitee is
not entitled to

                                      -5-

<PAGE>

indemnification will be heard from among the following, except that the
Indemnitee can select a forum consisting of the stockholders of the Company only
with the approval of the Company:

              (a) A quorum of the Board consisting of directors who are not
parties to the proceeding for which indemnification is being sought;

              (b) The stockholders of the Company;

              (c) Legal counsel mutually agreed upon by the Indemnitee and the
Board, which counsel shall make such determination in a written opinion;

              (d) A panel of three arbitrators, one of whom is selected by the
Company, another of whom is selected by the Indemnitee and the last of whom is
selected by the first two arbitrators so selected; or

              (e) The Court of Chancery of Delaware or other court having
jurisdiction of subject matter and the parties.

         8.4  As soon as practicable, and in no event later than thirty (30)
days after the forum has been selected pursuant to Section 8.3 above, the
Company shall, at its own expense, submit to the selected forum its claim that
the Indemnitee is not entitled to indemnification, and the Company shall act in
the utmost good faith to assure the Indemnitee a complete opportunity to defend
against such claim.

         8.5  If the forum selected in accordance with Section 8.3 hereof is not
a court, then after the final decision of such forum is rendered, the Company or
the Indemnitee shall have the right to apply to the Court of Chancery of
Delaware, the court in which the proceeding giving rise to the Indemnitee's
claim for indemnification is or was pending or any other court of competent
jurisdiction, for the purpose of appealing the decision of such forum, provided
                                                                       --------
that such right is executed within sixty (60) days after the final decision of
such forum is rendered. If the forum selected in accordance with Section 8.3
hereof is a court, then the rights of the Company or the Indemnitee to appeal
any decision of such court shall be governed by the applicable laws and rules
governing appeals of the decision of such court.

         8.6  Notwithstanding any other provision in this Agreement to the
contrary, the Company shall indemnify the Indemnitee against all expenses
incurred by the Indemnitee in connection with any hearing or proceeding under
this Section 8 involving the Indemnitee and against all expenses incurred by the
Indemnitee in connection with any other proceeding between the Company and the
Indemnitee involving the interpretation or enforcement of the rights of the
Indemnitee under this Agreement unless a court of competent jurisdiction finds
that each of the material claims and/or defenses of the Indemnitee in any such
proceeding was frivolous or not made in good faith.

     9.  Exceptions. Any other provision herein to the contrary notwithstanding,
         ----------
the Company shall not be obligated pursuant to the terms of this Agreement:

                                      -6-

<PAGE>

         9.1   Claims Initiated by Indemnitee. To indemnify or advance expenses
               ------------------------------
to the Indemnitee with respect to proceedings or claims initiated or brought
voluntarily by the Indemnitee and not by way of defense, except with respect to
proceedings specifically authorized by the Board or brought to establish or
enforce a right to indemnification and/or advancement of expenses arising under
this Agreement, the charter documents of the Company or any subsidiary or any
statute or law or otherwise, but such indemnification or advancement of expenses
may be provided by the Company in specific cases if the Board finds it to be
appropriate; or

         9.2   Unauthorized Settlements. To indemnify the Indemnitee hereunder
               ------------------------
for any amounts paid in settlement of a proceeding unless the Company consents
in advance in writing to such settlement, which consent shall not be
unreasonably withheld; or

         9.3   Securities Law Actions. To indemnify the Indemnitee on account of
               ----------------------
any suit in which judgment is rendered against the Indemnitee for an accounting
of profits made from the purchase or sale by the Indemnitee of securities of the
Company pursuant to the provisions of Section l6(b) of the Securities Exchange
Act of 1934 and amendments thereto or similar provisions of any federal, state
or local statutory law; or

         9.4   Unlawful Indemnification.  To indemnify the Indemnitee if a final
               ------------------------
decision by a court having jurisdiction in the matter shall determine that such
indemnification is not lawful.  In this respect, the Company and the Indemnitee
have been advised that the Securities and Exchange Commission takes the position
that indemnification for liabilities arising under the federal securities laws
is against public policy and is, therefore, unenforceable and that claims for
indemnification should be submitted to appropriate courts for adjudication.

     10. Non-Exclusivity.  The provisions for indemnification and advancement
         ---------------
of expenses set forth in this Agreement shall not be deemed exclusive of any
other rights which the Indemnitee may have under any provision of law, the
Company's Certificate of Incorporation or Bylaws, the vote of the Company's
stockholders or disinterested directors, other agreements or otherwise, both as
to action in the Indemnitee's official capacity and to action in another
capacity while occupying his position as an agent of the Company, and the
Indemnitee's rights hereunder shall continue after the Indemnitee has ceased
acting as an agent of the Company and shall inure to the benefit of the heirs,
executors and administrators of the Indemnitee.

     11. General Provisions.
         ------------------

         11.1  Interpretation of Agreement.  It is understood that the parties
               ---------------------------
hereto intend this Agreement to be interpreted and enforced so as to provide
indemnification and advancement of expenses to the Indemnitee to the fullest
extent now or hereafter permitted by law, except as expressly limited herein.

         11.2  Severability. If any provision or provisions of this Agreement
               ------------
shall be held to be invalid, illegal or unenforceable for any reason whatsoever,
then: (a) the validity, legality and enforceability of the remaining provisions
of this Agreement (including, without limitation, all portions of any paragraphs
of this Agreement containing any such provision held to be invalid, illegal or
unenforceable that are not themselves invalid, illegal or unenforceable)

                                      -7-

<PAGE>

shall not in any way be affected or impaired thereby; and (b) to the fullest
extent possible, the provisions of this Agreement (including, without
limitation, all portions of any paragraphs of this Agreement containing any such
provision held to be invalid, illegal or unenforceable, that are not themselves
invalid, illegal or unenforceable) shall be construed so as to give effect to
the intent manifested by the provision held invalid, illegal or unenforceable
and to give effect to Section 11.1 hereof.

         11.3  Entire Agreement.  This Agreement, together with all exhibits and
               ----------------
schedules hereto, constitutes the entire agreement and understanding of the
parties with respect to the subject matter hereof and supersedes any and all
prior negotiations, correspondence, agreements, understandings, duties or
obligations between the parties with respect to the subject matter hereof.

         11.4  Modification and Waiver. No supplement, modification or amendment
               -----------------------
of this Agreement shall be binding unless executed in writing by both of the
parties hereto. No waiver of any of the provisions of this Agreement shall be
deemed or shall constitute a waiver of any other provision hereof (whether or
not similar), nor shall such waiver constitute a continuing waiver.

         11.5  Subrogation. In the event of full payment under this Agreement,
               -----------
the Company shall be subrogated to the extent of such payment to all of the
rights of recovery of the Indemnitee, who shall execute all documents required
and shall do all acts that may be necessary or desirable to secure such rights
and to enable the Company effectively to bring suit to enforce such rights.

         11.6  Counterparts. This Agreement may be executed in one or more
               ------------
counter-parts, which shall together constitute one agreement.

         11.7  Successors and Assigns. The terms of this Agreement shall bind,
               ----------------------
and shall inure to the benefit of, the successors and assigns of the parties
hereto.

         11.8  Notice.  All notices, requests, demands and other communications
               ------
under this Agreement shall be in writing and shall be deemed duly given:  (a) if
delivered by hand and signed for by the party addressee; or (b) if mailed by
certified or registered mail, with postage prepaid, on the third business day
after the mailing date.  Addresses for notice to either party are as shown on
the signature page of this Agreement or as subsequently modified by written
notice.

         11.9  Governing Law. This Agreement shall be governed exclusively by
               -------------
and construed according to the laws of the State of California, as applied to
contracts between California residents entered into and to be performed entirely
within California.

         11.10 Consent to Jurisdiction. The Company and the Indemnitee each
               -----------------------
hereby irrevocably consent to the jurisdiction of the courts of the State of
California for all purposes in connection with any action or proceeding which
arises out of or relates to this Agreement.

                                      -8-

<PAGE>

          11.11  Attorneys' Fees. In the event Indemnitee is required to bring
                 ---------------
any action to enforce rights under this Agreement (including, without
limitation, the expenses of any Proceeding described in Section 3), the
Indemnitee shall be entitled to all reasonable fees and expenses in bringing and
pursuing such action, unless a court of competent jurisdiction finds each of the
material claims of the Indemnitee in any such action was frivolous and not made
in good faith.

     IN WITNESS WHEREOF, the parties hereto have entered into this Indemnity
Agreement effective as of the date first written above.

DoveBid, inc.:                           Indemnitee:

By:____________________________          __________________________________
                                         [Name]
Name:__________________________

Title:_________________________          Address:__________________________

                                         __________________________________
DoveBid, Inc.
124 E. Hillsdale Blvd.                   __________________________________
Foster City, CA  94404
Attn: President

                                      -9-

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