Document:

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                              CONSULTING AGREEMENT

     AGREEMENT, made this day of December, 2000 by and between Nexsan
Corporation, having its principal place of business at One Rockefeller Plaza,
New York, NY 10020, (hereinafter the "Company") and Direct Investors, LLC,
having its principal place of business at 39 Broadway, 32nd floor, New York, New
York 10006 (hereinafter the "Consultant).

     WHEREAS, the Company desires to retain the Consultant for consulting
services in connection with the Company's business and investment banking
affairs, and the Consultant desires to provide such services as set forth
herein.

     NOW, THEREFORE, in consideration of the premises and mutual covenants and
agreements set forth herein and for other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, the parties, intending to
be legally bound, agree as follows:

A.   CONSULTATION.

     1.  Consultant. The Company hereby retains the Consultant to render to the
         Company the consulting services as defined in Section B hereof, and the
         Consultant hereby accepts such assignment upon the terms and conditions
         hereinafter set forth.

     2.  Independent Relationship. The Consultant shall provide the consulting
         services required to be rendered by it hereunder solely as an
         independent contractor and nothing contained herein shall be construed
         as giving rise to an employment or agency relationship, joint venture,
         partnership or other form of business relationship.

     3.  No Authority to Obligate the Company. Without the consent of the board
         of directors or appropriate officer of the Company, the Consultant
         shall have no authority to take, nor shall it take, any action
         committing or obligating the Company in any manner, and it shall not
         represent itself to others as having such authority.

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     4.  Term. The term of the Consultant's consultation to the Company
         hereunder shall commence as of the date hereof and shall extend for a
         term of five (5) years unless the parties agree in writing to extend
         the consultation for an additional one year term(s). Notwithstanding
         the foregoing, this Agreement may be terminated at any time after four
         (4) for any reason, by either party giving at least thirty (30) days
         written notice to the other party at its address set forth on the first
         page of this Agreement, or to such other address as either party may
         specify to the other in writing in accordance with Section E hereof.
         Upon any termination of this Agreement, the Company shall:

         (i)   pay to the Consultant any previously accrued but unpaid
               compensation, as contemplated by Section C hereof; and

         (ii)  pay any previously incurred but unpaid expenses, as contemplated
               by Section D hereof.
B.   OBLIGATIONS OF THE CONSULTANT.

     1.  Consulting Services. During the term of this Agreement, Consultant will
         render advice and assistance to the Company on business related matters
         and in connection therewith the Consultant shall:

         a.    evaluate the Company's managerial, marketing and sales
               performance, including the furnishing of written reports upon the
               request of the Company;

         b.    consult with the Company concerning ongoing strategic corporate
               planning and long term investment policies, including any
               revision of the Company's business plan;

         c.    assist in the negotiation of contracts with suppliers and major
               customers when so requested by the Company;

         d.    consult with and advise the Company with regard to potential
               mergers and acquisitions, whether the Company is the acquiring
               company or the target of acquisition;

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         e.    upon the request of the Company, Consultant will review press
               releases to be made available to, among others, the press,
               customers, suppliers, broker/dealers, financial institutions, and
               the Company's shareholders; and

         f.    render such other services to the Company as its Board of
               Directors may reasonably request.

     2.  Nonexclusive Engagement; Extent of Services.

         a.    The parties agree that the consultation contemplated by this
               Agreement is a nonexclusive engagement and that the Consultant
               now renders and may continue to render consulting services to
               other companies which may or may not conduct activities similar
               to those of the Company.

         b.    The Consultant will devote such time and effort to the affairs of
               the Company as the Consultant deems reasonable and adequate to
               render the consulting services contemplated by this Agreement.
               The Consultant's work will not include any services that
               constitute the rendering of any legal opinions or performance of
               work that is in the ordinary purview of certified public
               accountants.

     3.  Confidentiality. The Consultant will not, either during its engagement
         by the Company pursuant to this Agreement or at any other time
         thereafter, disclose, use or make known for its or another's benefit,
         any confidential information, knowledge, or data of the Company or any
         of its affiliates in any way acquired or used by the Consultant during
         its engagement by the Company. Confidential information, knowledge or
         data of the Company and its affiliates shall not include any
         information which is or becomes generally available to the public other
         than as a result of a disclosure by the Consultant or its
         representatives.

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C.   COMPENSATION.

     1.  Cash Retainer. The Company will pay a monthly cash retainer of $8,333
         to the Consultant payable on the 1st day of each month for the entire
         term of this Agreement.

     2.  Stock Purchase Rights. Contemporaneously herewith the Company is
         issuing the issue Consultant stock purchase rights pursuant to a
         Restricted Stock Purchase Agreement.

D.   REIMBURSEMENT OF EXPENSES.

     1.  Out-of-Pocket Expenses. The Company shall reimburse the Consultant for
         actual out-of-pocket expenses including, but not limited to, facsimile,
         postage, printing, photocopying, and entertainment, incurred by the
         Consultant without the prior consent of the Company and in connection
         with the performance by the Consultant of its duties hereunder.

     2.  Travel and Related Expenses. The Company shall also reimburse the
         Consultant for the costs of all travel and related expenses incurred by
         the Consultant in connection with the performance of its services
         hereunder, including, without limitation, costs and expenses incurred
         with respect to travel to England; provided that all such costs and
         expenses have been authorized, in advance, by the Company.

     3.  General. Expenses shall be due and payable when billed and after they
         have been incurred.

E.   MISCELLANEOUS.

     1.  Entire Agreement. This Agreement contains the entire agreement between
         the parties with respect to the engagement of Consultant by the Company
         as a consultant and supersedes and replaces any and all prior
         understandings, agreements or correspondence between the parties
         relating to the subject matter hereof.

     2.  Modification and Waiver. No supplement, modification or amendment of
         this Agreement shall be binding unless

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         executed in writing by both the parties hereto. No waiver of any other
         provisions hereof (whether or not similar) shall be binding unless
         executed in writing by both the parties hereto nor shall such waiver
         constitute a continuing waiver.

     3.  Governing Law. This Agreement has been made in and shall be interpreted
         according to the laws of the State of New York without any reference to
         the conflicts of laws rules thereof. The parties hereto submit to the
         jurisdiction of the courts of the State of New York for the purpose of
         any actions or proceedings which may be required to enforce any of the
         provisions of this agreement.

     4.  Successors and Assigns. This Agreement shall inure to the benefit of
         and be binding upon the Company and its successors and assigns and upon
         the Consultant and the Consultant's successors and assigns.

     5.  Severability. If any provision or provisions of this agreement shall be
         held to be invalid, illegal or unenforceable for any reason whatsoever:

         a.    the validity, legality and enforceability of the remaining
               provisions of this Agreement (including, without limitation, each
               portion of any Section of this Agreement containing any such
               provision held to be invalid, illegal or unenforceable) 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, each portion of any Section of
               this agreement containing any such provision held to be invalid,
               illegal or unenforceable) shall be construed so as to give effect
               to the intent manifested by the provision held invalid, illegal
               or unenforceable.

     6.  Further Assurances. From and after the execution and delivery of this
         Agreement, upon request of either party, the other shall do, execute,
         acknowledge and deliver all such further acts, assurances and other
         instruments and papers as may be required to carry out the transactions
         contemplated by this agreement.

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     7.  Headings. The headings of the paragraphs of this agreement are inserted
         for convenience only and shall not be deemed to constitute part of this
         agreement or to affect the construction hereof.

     8.  Notices. Any notice to be given hereunder shall be given in writing.
         All notices under this Agreement shall be either hand delivered receipt
         acknowledged, or sent by registered or certified mail, return receipt
         requested as follows:

         a.  If to the Company,
             to it at:                  Nexsan Corporation
                                        Suite 1600
                                        1 Rockefeller Plaza
                                        New York, New York 10022

             and                        Nexsan Technologies Limited
                                        Imperial House
                                        East SSErvice Road
                                        Rayneway
                                        Derby DE21 7BF
                                        England

             with a copy to:            RubinBaum LLP
                                        30 Rockefeller Plaza
                                        New York, New York  10112
                                        Attn.:  Michael Emont, Esq.
                                        Facsimile No.:  (212) 698-7825

             and                        Flint Bishop & Barnett
                                        5 St. Michael's Court
                                        St. Michael's Lane
                                        Derby DEl 3JH
                                        England
                                        Attn.:  Mr. Thomas Travers
                                        Facsimile no. 011 44 (0)1332 207601

         b.  If to the Consultant,
             to it at:                  Direct Investors, LLC
                                        39 Broadway, 32nd floor.
                                        New York, New York  10006
                                        Attn.:  Mr. E. Corprew Reed

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             with a copy to:            Thelen Reid & Priest LLP
                                        40 West 57th Street
                                        New York, New York  10019-4097
                                        Facsimile No.: (212) 603-2001
                                        Attn:  Bruce A. Rich

     All such notices shall be deemed given when delivered, if personally
delivered as aforesaid, or within five business days after mailing, as
aforesaid.

     9.  Execution. This Agreement may be executed in two or more counterparts,
         all of which when taken together shall be considered one and the same
         agreement and shall become effective when counterparts have been signed
         by each party and delivered to the other party, it being understood
         that both parties need not sign the same counterpart. In the event that
         any signature is delivered by facsimile transmission, such signature
         shall create a valid and binding obligation of the party executing (or
         on whose behalf such signature is executed) the same with the same
         force and effect as if such facsimile signature page were an original
         thereof.

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                             SIGNATURE PAGE FOLLOWS]

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

                                            NEXSAN CORPORATION

                                            By: /s/ Martin Boddy
                                                -------------------------------
                                                            , President

                                            BEECHTREE CAPITAL, LLC

                                            By: /s/  E. Corprew Reed
                                                -------------------------------
                                                E. Corprew Reed
                                                Managing Member<PAGE>

                              CONSULTING AGREEMENT

         AGREEMENT, made this 4th day of January 2001 by and between NEXSAN
CORPORATION (the "Company") and Mr. MOHAN VACHANI (the "Consultant").

         WHEREAS, the Company desires to retain the Consultant for consulting
services in connection with the U.S. operations and financial performance of the
Company and its affiliates, and the Consultant desires to provide such services
as set forth herein.

         NOW, THEREFORE, in consideration of the premises and mutual covenants
and agreements set forth herein and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the parties,
intending to be legally bound, agree as follows:

A. CONSULTATION.

         1. Consultant. The Company hereby retains the Consultant to render to
the Company and its affiliates the Services (as defined in Section B hereof),
and the Consultant hereby accepts such assignment upon the terms and conditions
hereinafter set forth.

         2. Independent Relationship. The Consultant shall provide the Services
required to be rendered by him hereunder solely as an independent contractor and
nothing contained herein shall be construed as giving rise to an employment or
agency relationship, joint venture, partnership or other form of business
relationship with the Company.

         3. No Authority to Obligate the Company. Without the consent of the
Board of Directors or appropriate officer of the Company, the Consultant shall
have no authority to take, nor shall he take, any action committing or
obligating the Company in any manner, and he shall not represent himself to
others as having such authority.

         4. Term. The term of the Consultant's engagement hereunder shall
commence as of the date hereof and shall extend for a period of one (1) year
(the "Term"), unless the parties agree in writing to extend the Term for an
additional period. Notwithstanding the foregoing, this Agreement may be
terminated by either party as of June 30, 2001, for any or no reason, by giving
at least thirty (30) days prior written notice. Upon any termination of this
Agreement, the Company shall pay to the Consultant (i) any previously accrued
but unpaid compensation, as contemplated by Section C(1) hereof; and (ii) any
previously incurred but unpaid expenses, as contemplated by Section D hereof.

B. OBLIGATIONS OF THE CONSULTANT.

         1. Services. During the term of this Agreement, Consultant will render
consulting service, advice and assistance (collectively, the "Services") to the
Company and its affiliates on business and financial related matters, and in
connection therewith the Consultant shall:

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          a. oversee and assist in directing the Company's operations and
     financial performance in the U.S., and will provide guidance to the
     Company's executives in respect thereof, including the furnishing of
     written reports upon the request of the Company;

          b. advise the Company with regard to compliance with regulations of
     the Securities Exchange Commission (the "SEC"), and assist it with all
     filings required by the SEC and in all dealings with SEC officials;

          c. assist in the negotiation of contracts with suppliers and major
     customers when so requested by the Company;

          d. render other services to the Company, or its affiliates, as its
     Board of Directors may reasonably request; and

          e. report periodically to the Company's President, CFO, and the
     Company's consultant, Beechtree _________, and confer regularly with
     Company's Treasurer, with respect to the foregoing matters.

     2. Nonexclusive Engagement; Extent of Services.

          a. The parties agree that the Services contemplated by this Agreement
     constitute a nonexclusive engagement and that the Consultant now renders
     and may continue to render consulting services to other companies which may
     or may not conduct activities similar to those of the Company.

          b. The Consultant will devote to the affairs of the Company, and its
     affiliates, such time and attention as may be required to render the
     Services, provided that he shall not be required to devote (i) during the
     first six (6) months of the Term, more than twenty five percent (25%) of
     his business time and attention, and (ii) thereafter, for the remainder of
     the Term, more than fifty percent (50%) of his business time and attention.

     3. Confidentiality. The Consultant will not, either during his engagement
by the Company pursuant to this Agreement or at any other time thereafter,
disclose, use or make known for his or another's benefit, any confidential
information, knowledge, or data of the Company or any of its affiliates in any
way acquired or used by the Consultant during his engagement by the Company.
Confidential information, knowledge or data of the Company shall not include any
information which is or becomes generally available to the public other than as
a result of a disclosure by the Consultant.

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C. COMPENSATION.

         1. Cash Retainer. The Company will pay throughout the Term, a monthly
cash retainer of (i) Four Thousand US Dollars ($4,000) during the first six (6)
months, and (ii) Eight Thousand US Dollars ($8,000) thereafter.

     2. Restricted Stock. Contemporaneously with the signing of this Agreement,
the Company will grant the Consultant the right to purchase 75,000 Shares of
Common Stock of the Company, subject to its 2001 Stock Plan and upon the terms
of a Restricted Stock Purchase Agreement between the Company and the Consultant.

D. REIMBURSEMENT OF EXPENSES.

     1. Out-of-Pocket Expenses. The Company shall reimburse the Consultant for
actual out-of-pocket expenses including, but not limited to, facsimile, postage,
printing, photocopying, and entertainment, incurred by the Consultant without
the prior consent of the Company and in connection with the performance by the
Consultant of the Services in amounts up to Five Hundred Dollars ($500) per
month. Prior consent of the Company is required for reimbursement of expenses in
excess of Five Hundred Dollars ($500) per month.

     2. Travel and Related Expenses. The Company shall also reimburse the
Consultant for the costs of all travel and related expenses incurred by the
Consultant in connection with the performance of the Services, including,
without limitation, costs and expenses incurred with respect to travel from
California to England and New York; provided that all such costs and expenses
have been authorized, in advance, by the Company. Expenses shall be due and
payable when billed and after they have been incurred.

E. MISCELLANEOUS.

     1. Entire Agreement. This Agreement contains the entire agreement between
the parties with respect to the engagement of Consultant by the Company as a
consultant and supersedes and replaces any and all prior understandings,
agreements or correspondence between the parties relating to the subject matter
hereof.

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

     3. Governing Law. This Agreement has been made in and shall be interpreted
according to the laws of the State of New York without any reference to the
conflicts of laws rules thereof. The parties hereto submit to the jurisdiction
of the courts of the State of New York, and each party

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waives the right to change venue, for the purpose of any actions or proceedings
which may be required to enforce any of the provisions of this agreement.

     4. Successors and Assigns. This Agreement shall inure to the benefit of and
be binding upon the Company and its successors and assigns and upon the
Consultant and the Consultant's heirs and representatives.

     5. Severability. If any provision or provisions of this agreement shall be
held to be invalid, illegal or unenforceable for any reason whatsoever:

          a. the validity, legality and enforceability of the remaining
     provisions of this Agreement (including, without limitation, each portion
     of any Section of this Agreement containing any such provision held to be
     invalid, illegal or unenforceable) 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, each portion of any Section of this
     agreement containing any such provision held to be invalid, illegal or
     unenforceable) shall be construed so as to give effect to the intent
     manifested by the provision held invalid, illegal or unenforceable.

     6. Further Assurances. From and after the execution and delivery of this
Agreement, upon request of either party, the other shall do, execute,
acknowledge and deliver all such further acts, assurances and other instruments
and papers as may be required to carry out the transactions contemplated by this
agreement.

     7. Headings. The headings of the paragraphs of this agreement are inserted
for convenience only and shall not be deemed to constitute part of this
agreement or to affect the construction hereof.

     8. Notices. All notices or other communications required or appropriate
hereunder shall be deemed to have been given, delivered or made if in writing
(including facsimile transmission via telecopier or telegraphic communication)
telegraphed, telecopied (with answer back confirmation), actually personally
delivered, or 72 hours after placed in the U.S. mail (registered or certified,
return receipt requested, postage prepaid) and addressed to the applicable party
at the address stated bellow:

          (a) If to the Company,

          to it at:      Nexsan Corporation
                         c/o Beechtree Capital, Ltd.
                         Suite 1600
                         1 Rockefeller Plaza
                         New York, NY 10020
                         Attn.: President
                         Facsimile No.: (212) 541-8463

                                       4

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             with a copy to:   RubinBaum LLP
                               30 Rockefeller Plaza
                               New York, New York  10112
                               Attn.:  Michael Emont, Esq.
                               Facsimile No.:  (212) 698-7825

   (b) If to the Consultant:   Mohan Vachani
                               1 Diablo View Drive
                               Orinda, CA 94563

All such notices shall be deemed given when delivered, if personally delivered
or faxed as aforesaid, or within five business days after mailing, as aforesaid.

     9. Execution. This Agreement may be executed in two or more counterparts,
all of which when taken together shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each party and
delivered to the other party, it being understood that both parties need not
sign the same counterpart. In the event that any signature is delivered by
facsimile transmission, such signature shall create a valid and binding
obligation of the party executing (or on whose behalf such signature is
executed) with the same force and effect as if such facsimile signature page
were an original thereof.

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                             SIGNATURE PAGE FOLLOWS]

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

                              NEXSAN CORPORATION

                              By: /s/ Martin Boddy

                              MOHAN VACHANI

                             /s/ Mohan Vachani

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