Document:

GENERAL FINANCE CORPORATION

                               OPTION CERTIFICATE
                          (Non-Qualified Stock Option)

      THIS IS TO CERTIFY that General Finance Corporation, a Delaware
corporation (the "Company"), has granted to the director, officer, employee or
consultant named below ("Grantee") a non-qualified stock option (the "Option")
to purchase shares of the Company's common stock (the "Common Stock") under its
2006 Stock Option Plan (the "Plan") and upon the terms and conditions set forth
below and in the attached Stock Option Agreement:

      Name of Grantee:
                                 ------------------------------------------

      Address of Grantee:
                                 ------------------------------------------

                                 ------------------------------------------

      Number of Option Shares:
                                 ------------------------------------------

      Exercise Price:            $                                per share
                                  --------------------------------

      Date of Grant:
                                 ------------------------------------------

      Option Expiration Date:
                                 ------------------------------------------

      Exercise Schedule: The Option shall become exercisable ("vest") as
      follows:

      Date                       Number of Shares
      ----                       ----------------

      ------------------------   -------------------------------------------

      In Witness Whereof, the Company has granted to Grantee the Option as of
the Date of Grant set forth above.

GRANTEE                                 GENERAL FINANCE CORPORATION

-------------------------------------   By
                                           ------------------------------------
                                        Its
                                            -----------------------------------

<PAGE>

                             STOCK OPTION AGREEMENT
                          (Non-Qualified Stock Option)

      This STOCK OPTION AGREEMENT (this "Agreement") is made and entered into as
of the Date of Grant set forth in the Option Certificate to which this Agreement
is attached (the "Certificate") by and between General Finance Corporation, a
Delaware corporation (the "Company"), and the Grantee (the "Grantee") named in
the Certificate.

      Pursuant to the 2006 Stock Option Plan of the Company (the "Plan"), the
Administrator has determined that Grantee is to be granted, on the terms and
conditions set forth in this Agreement and in the Plan, an option to purchase
shares of the Company's common stock (the "Common Stock"). It is intended that
the option not be an "incentive stock option" within the meaning of Section 422
of the Internal Revenue Code of 1986, as amended from time to time (the "Code").
Capitalized terms not otherwise defined in this Agreement shall have the
meanings ascribed to them in the Plan.

      The Company and Grantee agree as follows:

      1. Grant of Option. The Company hereby grants to Grantee, upon the terms
and subject to the conditions set forth in this Agreement, an Option (the
"Option") to purchase all or any portion of that number of shares of Common
Stock set forth in the Certificate (the "Option Shares"), at the exercise price
set forth in the Certificate (the "Exercise Price").

      2. Vesting

            2.1. The Option shall "vest" and become exercisable in installments
upon and after the dates set forth under the caption "Exercise Schedule" in the
Certificate. The installments shall be cumulative; i.e., the Option may be
exercised, as to any or all Shares covered by an installment, at any time or
times after the installment first becomes exercisable and until expiration or
termination of the Option.

            2.2. No vesting shall occur after the Employment Termination Date
(as defined in Section 4.2 of this Agreement).

            2.3. Notwithstanding anything to the contrary contained in this
Option Agreement, the Option may not be exercised, in whole or in part, unless
and until any then-applicable requirements of all state and federal laws and
regulatory agencies shall have been fully complied with to the satisfaction of
the Company and its counsel.

      3. Exercise of the Option.

            3.1. The Option may be exercised, in whole or in part, only by
delivery to the Company of:

                  3.1.1 written notice of the exercise of the Option in form
identical to Exhibit "A" attached to this Agreement stating the number of Option
Shares being purchased (the "Purchased Shares"); and

<PAGE>

                  3.1.2 payment of the Exercise Price (i) in cash or cash
equivalent; or (ii) with the approval of the Administrator, by delivery to the
Company of such other consideration (such as shares of Common Stock) acceptable
to the Administrator.

            3.2. Following receipt of the exercise notice, any other applicable
documents and the payment referred to above, the Company shall, within 30 days,
cause certificates representing the Purchased Shares to be delivered to Grantee
either at Grantee's address set forth in the records of the Company or at such
other address as Grantee may designate in writing to the Company; provided;
however, that the Company shall not be obligated to issue a fraction or
fractions of a share otherwise issuable upon exercise of the Option, and may pay
to Grantee, in cash or cash equivalent, the fair market value of any such
fraction or fractions of a share as of the date of exercise.

            3.3. If requested by the Administrator, Grantee shall also deliver
this Agreement to the Secretary of the Company, who shall endorse hereon a
notation of the exercise and return this Agreement to Grantee. The date of
exercise of an Option that is validly exercised shall be deemed to be the date
on which there shall have been delivered to the Administrator the instruments
referred to in this Section 3. Grantee shall not be deemed to be a holder of any
Option Shares pursuant to exercise of the Option until the date of issuance of a
stock certificate to him or her for such shares following payment in full for
the Option Shares purchased.

            3.4. As a condition to exercise of this Option, the Company may
require Grantee to pay over to the Company all applicable federal, state and
local taxes which the Company is required to withhold with respect to the
exercise of this Option. At the discretion of the Administrator and upon the
request of Grantee, the minimum statutory withholding tax requirements may be
satisfied by the withholding of Shares otherwise issuable to Grantee upon the
exercise of this Option.

      4. Termination of Option

            4.1. The Option shall terminate and expire upon the earliest to
occur of: (i) the Option Expiration Date set forth in the Option Certificate;
(ii) the Termination Date; and (iii) a Corporate Transaction unless specified
otherwise by the Administrator in accordance with Section 6 of this Agreement
and the Plan. Following the Employment Termination Date, and prior to the
Termination Date, the Option may be exercised only to the extent vested as of
the date of Employment Termination Date.

            4.2. For purposes of this Agreement:

                  4.2.1 "Employment Termination Date" shall mean the date
Grantee is no longer a director, employee or consultant to the Company and its
Affiliates. As long as Grantee is at least one of employee, director or
consultant, the Employment Termination Date shall not be deemed to have
occurred. For example, if Grantee is an employee and a director, the termination
of employment as an employee while remaining a director shall not establish an
Employment Termination Date (which would only be established if and when Grantee
ceases to be a director). Grantee's employment shall not be deemed to terminate
by reason of a transfer to or from the Company or an Affiliate or among such
entities, or sick leave, military leave or other leave of absence approved by
the Administrator, if the period of any such leave does not exceed 90 days or,
if longer, if Grantee's right to reemployment by the Company or any Affiliate is
guaranteed either contractually or by statute.

                                        2

<PAGE>

                  4.2.2 "Termination Date" shall be: (a) the date 90 days
following the Employment Termination Date unless Grantee's employment is
terminated as a result of the death or disability of Grantee or For Cause or;
(b) upon the Employment Termination Date if Grantee's employment is terminated
For Cause; or (c) one year following the Employment Termination Date if
Employment Termination Date occurs as a result of the death or disability of
Grantee.

                  4.2.3 "For Cause" shall mean Grantee's loss of employment,
directorship or consulting engagement by the Company or any of its Affiliates
due to Grantee's (a) willful breach or habitual neglect or continued incapacity
to perform Grantee's required duties, (b) commission of acts of dishonesty,
fraud, misrepresentation or other acts of moral turpitude in connection with
Grantee's services to the Company or its Affiliates or which in the
determination of the Administrator would prevent the effective performance of
Grantee's duties or (c) termination for cause under any employment or consulting
agreement between the Company and Grantee (as for cause is defined therein).

      5. Changes in Capital Structure. Subject to Section 6, in cases of stock
splits and certain other changes in capital structure and certain other
transactions, appropriate adjustments shall be made with respect to the number
of Option Shares, the Exercise Price and/or, as applicable the type of
securities or property subject to the Option, in accordance with Section 6.4 of
the Plan.

      6. Corporate Transactions. The Option is subject to Section 6.1.11 of the
Plan in the event of a Corporate Transaction.

      7. Modification. Subject to the terms and conditions and within the
limitations of the Plan, the Administrator may modify, extend or renew the
Option or accept the surrender of, and authorize the grant of a new option in
substitution for, the Option (to the extent not previously exercised). No
modification of the Option shall be made which, without the consent of Grantee,
would cause the Option to fail to continue to qualify as an "incentive stock
option" within the meaning of Section 422 of the Code or would alter or impair
any rights of Grantee under the Option.

      8. Incorporation of Plan. This Agreement incorporates the Plan, is made
pursuant to the Plan, and it is intended, and shall be interpreted in a manner,
to comply with the Plan. Any provision of this Agreement inconsistent with the
Plan shall be superseded and governed by the Plan.

      9. Restrictions on Sale of Purchased Shares. Grantee understands that: (a)
unless the issuance of the Purchased Shares to Grantee upon exercise of the
Option is registered under the Securities Act of 1933, as amended (the
"Securities Act"), the Purchased Shares will be "restricted securities" within
the meaning of Rule 144 under such Act; (b) the Purchased Shares may not be
sold, transferred or assigned by the Grantee except pursuant to an effective
registration statement under the Securities Act or an exemption from
registration under the Securities Act; and (c) the Company is under no
obligation to file a registration statement under the Securities Act covering
the Option Shares. Grantee agrees that any certificates evidencing Purchased
Shares may bear a legend indicating that their transferability is restricted in
accordance with applicable state and federal securities laws.

                                        3

<PAGE>

      10. General Provisions.

            10.1. Further Assurances. Grantee shall promptly take all actions
and execute all documents requested by the Company that the Company deems to be
reasonably necessary to effectuate the term and intent of this Agreement.

            10.2. Notices. All notices, requests, demands and other
communications (collectively, "Notices") given pursuant to this Agreement shall
be in writing, and shall be delivered by personal service, courier, or by United
States first class, registered or certified mail, postage prepaid, addressed to
the party at the address set forth on the signature page of this Agreement. Any
Notice, other than a Notice sent by registered or certified mail, shall be
effective when received; a Notice sent by registered or certified mail, postage
prepaid return receipt requested, shall be effective on the earlier of when
received or the third day following deposit in the United States mails. Any
party may from time to time change its address for further Notices hereunder by
giving notice to the other party in the manner prescribed in this Section.

            10.3. Failure to Enforce Not a Waiver. The failure of the Company to
enforce at any time any provision of this Agreement shall is no way be construed
to be a waiver of such provision or of any other provision hereof.

            10.4. Governing Law. This Agreement shall be governed by and
construed in accordance with the law of the State of California applicable to
contracts made in, and to be performed within, that State.

            10.5. Transfer of Rights under this Agreement. The Company may at
any time transfer and assign its rights and delegate its obligations under this
Agreement to any other person, corporation, firm or entity, with or without
consideration.

            10.6. Option Non-transferable. Grantee may not sell, transfer,
assign or otherwise dispose of the Option except by will or the laws of descent
and distribution, and only Grantee or his or her legal representative or
guardian may exercise the Option during Grantee's lifetime.

            10.7. No Right to Employment. Nothing in this Option shall interfere
with or limit in any way the right of the Company or of any of its Affiliates to
terminate Grantee's employment, consulting or advising at any time, nor confer
upon Grantee any right to continue in the employ of, consult with or advise the
Company or any of its Affiliates.

            10.8. Delivery of Plan to Grantee. Grantee acknowledges that a copy
of the Plan has been delivered to Grantee and that Grantee has read the Plan
prior to signing this Agreement.

                                        4

<PAGE>

            10.9. Successors and Assigns. Except to the extent specifically
limited by the terms and provision of this Agreement, this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective
successors, assigns, heirs and personal representatives.

            10.10. Miscellaneous. Titles and captions contained in this
Agreement are inserted for convenience of reference only and do not constitute a
part of this Agreement for any other purpose. Except as specifically provided
herein, neither this Agreement nor any right pursuant hereto or interest herein
shall be assignable by any of the parties hereto without the prior written
consent of the other party hereto.

            10.11. Tax Treatment. Grantee acknowledges that the tax treatment of
the Option, the Option Shares or any events or transactions with respect thereto
may be dependent upon various factors or events that are not determined by the
Plan or this Agreement. The Company makes no representations with respect to and
hereby disclaims all responsibility as to such tax treatment.

            10.12. Shareholder Approval of Plan. IF THIS OPTION WAS GRANTED
PRIOR TO THE APPROVAL OF THE PLAN BY THE COMPANY'S SHAREHOLDERS, NOTWITHSTANDING
ANYTHING TO THE CONTRARY HEREIN, THIS OPTION WILL NOT BE EXERCISABLE UNTIL SUCH
APPROVAL IS OBTAINED AND IF SUCH APPROVAL IS NOT OBTAINED BY AUGUST 28, 2007,
THIS OPTION SHALL TERMINATE UNEXERCISED.

      The signature page of this Agreement consists of the last page of the
Certificate.

                                        5

<PAGE>

                                   EXHIBIT "A"

                               NOTICE OF EXERCISE

                 (To be signed only upon exercise of the Option)

TO:   General Finance Corporation

      The undersigned, the holder of the enclosed Stock Option Agreement
(Non-Qualified Stock Option), hereby irrevocably elects to exercise the purchase
right represented by the Option and to purchase thereunder ______* shares of
Common Stock of General Finance Corporation (the "Company") and herewith
encloses payment of $_________ in full payment of the purchase price of such
shares being purchased.

Dated:
      ------------------------------

                                        ---------------------------------------
                                        (Signature must conform in all respects
                                        to name of holder as specified on the
                                        face of the Option)

                                        ---------------------------------------

                                        ---------------------------------------
                                                       (Address)

                                        ---------------------------------------
                                                   Social Security Number

      *Insert here the number of shares being exercised making all adjustments
for stock splits, stock dividends or other additional Common Stock of the
Company, other securities or property which, pursuant to the adjustment
provisions of Section 5 of the Option, may be deliverable upon exercise.

<PAGE>

                           GENERAL FINANCE CORPORATION

                               OPTION CERTIFICATE
                            (Incentive Stock Option)

      THIS IS TO CERTIFY that General Finance Corporation, a Delaware
corporation (the "Company"), has granted to the employee named below ("Grantee")
an incentive stock option (the "Option") to purchase shares of the Company's
common stock (the "Common Stock") under its 2006 Stock Option Plan (the "Plan")
and upon the terms and conditions set forth below and in the attached Stock
Option Agreement:

      Name of Grantee:
                                 ------------------------------------------

      Address of Grantee:
                                 ------------------------------------------

                                 ------------------------------------------

      Number of Option Shares:
                                 ------------------------------------------

      Exercise Price:            $                                per share
                                  --------------------------------

      Date of Grant:
                                 ------------------------------------------

      Option Expiration Date:
                                 ------------------------------------------

      Exercise Schedule: The Option shall become exercisable ("vest") as
      follows:

      Date                       Number of Shares
      ----                       ----------------

      ------------------------   -------------------------------------------

      In Witness Whereof, the Company has granted to Grantee the Option as of
the Date of Grant set forth above.

GRANTEE                                 GENERAL FINANCE CORPORATION

-------------------------------------   By
                                           ------------------------------------
                                        Its
                                            -----------------------------------

<PAGE>

                             STOCK OPTION AGREEMENT
                            (Incentive Stock Option)

      This STOCK OPTION AGREEMENT (this "Agreement") is made and entered into as
of the Date of Grant set forth in the Option Certificate to which this Agreement
is attached (the "Certificate") by and between General Finance Corporation, a
Delaware corporation (the "Company"), and the Grantee (the "Grantee") named in
the Certificate.

      Pursuant to the 2006 Stock Option Plan of the Company (the "Plan"), the
Administrator has determined that Grantee is to be granted, on the terms and
conditions set forth in this Agreement and in the Plan, an option to purchase
shares of the Company's common stock (the "Common Stock"). It is intended that
the option qualify as an "incentive stock option" within the meaning of Section
422 of the Internal Revenue Code of 1986, as amended from time to time (the
"Code"). Capitalized terms not otherwise defined in this Agreement shall have
the meanings ascribed to them in the Plan.

      The Company and Grantee agree as follows:

      1. Grant of Option. The Company hereby grants to Grantee, upon the terms
and subject to the conditions set forth in this Agreement, an Option (the
"Option") to purchase all or any portion of that number of shares of Common
Stock set forth in the Certificate (the "Option Shares"), at the exercise price
set forth in the Certificate (the "Exercise Price").

      2. Vesting

            2.1. The Option shall "vest" and become exercisable in installments
upon and after the dates set forth under the caption "Exercise Schedule" in the
Certificate. The installments shall be cumulative; i.e., the Option may be
exercised, as to any or all Shares covered by an installment, at any time or
times after the installment first becomes exercisable and until expiration or
termination of the Option.

            2.2. No vesting shall occur after the Employment Termination Date
(as defined in Section 4.2 of this Agreement).

            2.3. Notwithstanding anything to the contrary contained in this
Option Agreement, the Option may not be exercised, in whole or in part, unless
and until any then-applicable requirements of all state and federal laws and
regulatory agencies shall have been fully complied with to the satisfaction of
the Company and its counsel.

      3. Exercise of the Option.

            3.1. The Option may be exercised, in whole or in part, only by
delivery to the Company of:

                  3.1.1 written notice of the exercise of the Option in form
identical to Exhibit "A" attached to this Agreement stating the number of Option
Shares being purchased (the "Purchased Shares"); and

<PAGE>

                  3.1.2 payment of the Exercise Price (i) in cash or cash
equivalent; or (ii) with the approval of the Administrator, by delivery to the
Company of such other consideration (such as shares of Common Stock) acceptable
to the Administrator.

            3.2. Following receipt of the exercise notice, any other applicable
documents and the payment referred to above, the Company shall, within 30 days,
cause certificates representing the Purchased Shares to be delivered to Grantee
either at Grantee's address set forth in the records of the Company or at such
other address as Grantee may designate in writing to the Company; provided;
however, that the Company shall not be obligated to issue a fraction or
fractions of a share otherwise issuable upon exercise of the Option, and may pay
to Grantee, in cash or cash equivalent, the fair market value of any such
fraction or fractions of a share as of the date of exercise.

            3.3. If requested by the Administrator, Grantee shall also deliver
this Agreement to the Secretary of the Company, who shall endorse hereon a
notation of the exercise and return this Agreement to Grantee. The date of
exercise of an Option that is validly exercised shall be deemed to be the date
on which there shall have been delivered to the Administrator the instruments
referred to in this Section 3. Grantee shall not be deemed to be a holder of any
Option Shares pursuant to exercise of the Option until the date of issuance of a
stock certificate to him or her for such shares following payment in full for
the Option Shares purchased.

            3.4. Although no payroll tax withholding is required with respect to
an incentive stock option, such an option may become or be found to be a
nonqualified stock option in whole or in part and, as a condition to exercise of
this Option, the Company may require Grantee to pay over to the Company all
applicable federal, state and local taxes which the Company is required to
withhold with respect to the exercise of this Option. At the discretion of the
Administrator and upon the request of Grantee, the minimum statutory withholding
tax requirements may be satisfied by the withholding of Shares otherwise
issuable to Grantee upon the exercise of this Option.

      4. Termination of Option

            4.1. The Option shall terminate and expire upon the earliest to
occur of: (i) the Option Expiration Date set forth in the Option Certificate;
(ii) the Termination Date; and (iii) a Corporate Transaction unless specified
otherwise by the Administrator in accordance with Section 6 of this Agreement
and the Plan. Following the Employment Termination Date, and prior to the
Termination Date, the Option may be exercised only to the extent vested as of
the date of Employment Termination Date.

            4.2. For purposes of this Agreement:

                  4.2.1 "Employment Termination Date" shall mean the first day
Grantee is not an employee of the Company or any of its Affiliates. Grantee's
employment shall not be deemed to terminate by reason of a transfer to or from
the Company or an Affiliate or among such entities, or sick leave, military
leave or other leave of absence approved by the Administrator, if the period of
any such leave does not exceed 90 days or, if longer, if Grantee's right to
reemployment by the Company or any Affiliate is guaranteed either contractually
or by statute.

                                        2

<PAGE>

                  4.2.2 "Termination Date" shall be: (a) the date 90 days
following the Employment Termination Date unless Grantee's employment is
terminated as a result of the death or disability of Grantee or For Cause or;
(b) upon the Employment Termination Date if Grantee's employment is terminated
For Cause; or (c) one year following the Employment Termination Date if
Employment Termination Date occurs as a result of the death or disability of
Grantee.

                  4.2.3 "For Cause" shall mean Grantee's loss of employment by
the Company or any of its Affiliates due to Grantee's (a) willful breach or
habitual neglect or continued incapacity to perform Grantee's required duties,
(b) commission of acts of dishonesty, fraud, misrepresentation or other acts of
moral turpitude in connection with Grantee's services to the Company or its
Affiliates or which in the determination of the Administrator would prevent the
effective performance of Grantee's duties or (c) termination for cause under any
employment agreement between the Company and Grantee (as for cause is defined
therein).

      5. Changes in Capital Structure. Subject to Section 6, in cases of stock
splits and certain other changes in capital structure and certain other
transactions, appropriate adjustments shall be made with respect to the number
of Option Shares, the Exercise Price and/or, as applicable the type of
securities or property subject to the Option, in accordance with Section 6.4 of
the Plan.

      6. Corporate Transaction. The Option is subject to Section 6.1.11 of the
Plan in the event of a Corporate Transaction.

      7. Modification. Subject to the terms and conditions and within the
limitations of the Plan, the Administrator may modify, extend or renew the
Option or accept the surrender of, and authorize the grant of a new option in
substitution for, the Option (to the extent not previously exercised). No
modification of the Option shall be made which, without the consent of Grantee,
would cause the Option to fail to continue to qualify as an "incentive stock
option" within the meaning of Section 422 of the Code or would alter or impair
any rights of Grantee under the Option.

      8. Disqualifying Disposition. Grantee agrees that, should he or she make a
"disposition" (as defined in Section 424(c) of the Code) of all or any of the
Purchased Shares within two years from the date of the grant of the Option or
within one year after the issuance of such Purchased Shares, he or she shall
immediately advise the Company in writing as to the occurrence of the sale and
the price realized upon the sale of such Purchased Shares. Grantee agrees that
he or she shall maintain all Purchased Shares in his or her name so long as he
or she maintains beneficial ownership of such Purchased Shares.

      9. Incorporation of Plan. This Agreement incorporates the Plan, is made
pursuant to the Plan, and it is intended, and shall be interpreted in a manner,
to comply with the Plan. Any provision of this Agreement inconsistent with the
Plan shall be superseded and governed by the Plan.

                                        3

<PAGE>

      10. Restrictions on Sale of Purchased Shares. Grantee understands that:
(a) unless the issuance of the Purchased Shares to Grantee upon exercise of the
Option is registered under the Securities Act of 1933, as amended (the
"Securities Act"), the Purchased Shares will be "restricted securities" within
the meaning of Rule 144 under such Act; (b) the Purchased Shares may not be
sold, transferred or assigned by the Grantee except pursuant to an effective
registration statement under the Securities Act or an exemption from
registration under the Securities Act; and (c) the Company is under no
obligation to file a registration statement under the Securities Act covering
the Option Shares. Grantee agrees that any certificates evidencing Purchased
Shares may bear a legend indicating that their transferability is restricted in
accordance with applicable state and federal securities laws.

      11. General Provisions.

            11.1. Further Assurances. Grantee shall promptly take all actions
and execute all documents requested by the Company that the Company deems to be
reasonably necessary to effectuate the terms and intent of this Agreement.

            11.2. Notices. All notices, requests, demands and other
communications (collectively, "Notices") given pursuant to this Agreement shall
be in writing, and shall be delivered by personal service, courier, or by United
States first class, registered or certified mail, postage prepaid, addressed to
the party at the address set forth on the signature page of this Agreement. Any
Notice, other than a Notice sent by registered or certified mail, shall be
effective when received; a Notice sent by registered or certified mail, postage
prepaid return receipt requested, shall be effective on the earlier of when
received or the third day following deposit in the United States mails. Any
party may from time to time change its address for further Notices hereunder by
giving notice to the other party in the manner prescribed in this Section.

            11.3. Failure to Enforce Not a Waiver. The failure of the Company to
enforce at any time any provision of this Agreement shall is no way be construed
to be a waiver of such provision or of any other provision hereof.

            11.4. Governing Law. This Agreement shall be governed by and
construed in accordance with the law of the State of California applicable to
contracts made in, and to be performed within, that State.

            11.5. Transfer of Rights under this Agreement. The Company may at
any time transfer and assign its rights and delegate its obligations under this
Agreement to any other person, corporation, firm or entity, with or without
consideration.

            11.6. Option Non-transferable. Grantee may not sell, transfer,
assign or otherwise dispose of the Option except by will or the laws of descent
and distribution, and only Grantee or his or her legal representative or
guardian may exercise the Option during Grantee's lifetime.

            11.7. No Right to Employment. Nothing in this Option shall interfere
with or limit in any way the right of the Company or of any of its Affiliates to
terminate Grantee's employment, consulting or advising at any time, nor confer
upon Grantee any right to continue in the employ of, consult with or advise the
Company or any of its Affiliates.

                                        4

<PAGE>

            11.8. Delivery of Plan to Grantee. Grantee acknowledges that a copy
of the Plan has been delivered to Grantee and that Grantee has read the Plan
prior to signing this Agreement.

            11.9. Successors and Assigns. Except to the extent specifically
limited by the terms and provisions of this Agreement, this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective
successors, assigns, heirs and personal representatives.

            11.10. Miscellaneous. Titles and captions contained in this
Agreement are inserted for convenience of reference only and do not constitute a
part of this Agreement for any other purpose. Except as specifically provided
herein, neither this Agreement nor any right pursuant hereto or interest herein
shall be assignable by any of the parties hereto without the prior written
consent of the other party hereto.

            11.11. Tax Treatment. Grantee acknowledges that the tax treatment of
the Option, the Option Shares or any events or transactions with respect thereto
may be dependent upon various factors or events that are not determined by the
Plan or this Agreement. The Company makes no representations with respect to and
hereby disclaims all responsibility as to such tax treatment.

            11.12. Shareholder Approval of Plan. IF THIS OPTION WAS GRANTED
PRIOR TO THE APPROVAL OF THE PLAN BY THE COMPANY'S SHAREHOLDERS, NOTWITHSTANDING
ANYTHING TO THE CONTRARY HEREIN, THIS OPTION WILL NOT BE EXERCISABLE UNTIL SUCH
APPROVAL IS OBTAINED AND IF SUCH APPROVAL IS NOT OBTAINED BY AUGUST 28, 2007,
THIS OPTION SHALL TERMINATE UNEXERCISED.

      The signature page of this Agreement consists of the last page of the
Certificate.

                                        5

<PAGE>

                                   EXHIBIT "A"

                               NOTICE OF EXERCISE

                 (To be signed only upon exercise of the Option)

TO:   General Finance Corporation

      The undersigned, the holder of the enclosed Stock Option Agreement
(Incentive Stock Option), hereby irrevocably elects to exercise the purchase
right represented by the Option and to purchase thereunder ______* shares of
Common Stock of General Finance Corporation (the "Company") and herewith
encloses payment of $_________ in full payment of the purchase price of such
shares being purchased.

Dated:
      ------------------------------

                                        ---------------------------------------
                                        (Signature must conform in all respects
                                        to name of holder as specified on the
                                        face of the Option)

                                        ---------------------------------------

                                        ---------------------------------------
                                                        (Address)

                                        ---------------------------------------
                                                   Social Security Number

      *Insert here the number of shares being exercised making all adjustments
for stock splits, stock dividends or other additional Common Stock of the
Company, other securities or property which, pursuant to the adjustment
provisions of Section 5 of the Option, may be deliverable upon exercise.General Finance Corporation

September 11, 2006

Mr. Charles E. Barrantes
7420 Corbin Avenue, Unit No. 32
Reseda, CA 91335

Dear Chuck:

General Finance Corporation ("GFN" or the "Company") is pleased to confirm our
employment offer to you for a position as Executive Vice President and Chief
Financial Officer with our firm. As you know, GFN is a public acquisition
company listed on the American Stock Exchange. We believe the position of CFO
will be both challenging and rewarding and focused on, but not limited to, the
traditional areas of financial reporting, systems and controls, budgeting and
forecasting, due diligence of acquisitions, management of accounting personnel,
and other projects as are necessary.

Your employment will be on the following terms and conditions:

1. Title and Responsibilities

      1.1 You will be an Executive Vice President and the Chief Financial
Officer of GFN. You will report to the Chief Executive Officer of the Company.
Your duties and responsibilities shall be those incident to these as set forth
in the Bylaws of the Company and those that are normally and customarily vested
in such offices of a corporation. In addition, your duties shall include those
duties and services for the Company and its affiliates as the Board shall in its
discretion, from time to time, reasonably direct which are not inconsistent with
your positions described in this Section 1.

      1.2 You agree to obey all rules, regulations and special instructions of
the Company and all other rules, regulations, guides, handbooks, procedures,
policies and special instructions applicable to the Company's business in
connection with your duties hereunder and you shall endeavor to improve your
ability and knowledge of the Company's business in an effort to increase the
value of your services for the mutual benefit of the Company and you.

      1.3 You will perform your responsibilities principally at the executive
offices of the Company.

2. Base Salary. Your base salary will be $200,000 per year, payable in bimonthly
installments of $8,333.33.

<PAGE>

3. Bonus. You will be eligible for an annual bonus each fiscal year of the
Company in an amount up to 35% of your base salary earned for the year, provided
that you are employed by GFN on the last day of such year.

Your bonus will be based on such criteria deemed appropriate from time to time
by the Board of Directors or Compensation Committee, and may include the
financial results of the Company, timely, accurate, within budget and
professional execution of your GFN responsibilities, in such areas as financial
reporting, periodic filings with the Securities and Exchange Commission ("SEC"),
tax returns, internal systems and controls, development and implementation of
policies and procedures requested from time to time by the Chief Executive
Officer or the Board of Directors, including in 2006 an employee handbook,
Sarbanes-Oxley compliance, and other projects and matters assigned from time to
time by the Board of Directors and/or the Chief Executive Officer. It is the
Company's intention to discuss with you in the first part of each year,
commencing 2007, the specific criteria upon which you bonus will be determined
for such year.

4. Stock Option. The Board of Directors has approved the grant of stock options
to you to purchase an aggregate of 225,000 shares of common stock under the
Company's 2006 Stock Option Plan as of the date of commencement of your
employment. The options will have an exercise price equal to the fair market
value of the common stock on the date of grant (the date you commence
employment) and will vest in equal annual installments over five years. The
options will also be subject to approval of the shareholders of the 2006 Stock
Option Plan by August 28, 2007.

5. Reimbursement of Expenses. You will be reimbursed for reasonable and
necessary work-related expenses, including but not limited to phone charges,
travel expenses, laptop and desk top computer, and computer time on GFN's
server; other reasonable and necessary work-related costs will be borne by GFN.

6. Employee Benefits. Unfortunately, at this time, GFN cannot offer you employee
benefits in the form of health care insurance, life insurance, disability
insurance, retirement programs, etc. However, should GFN adopt such plans in the
future, you will entitled to participate on the same basis in all offered
benefits or programs as any other employee of GFN. Until the Company offers
health care insurance to its employees, the Company will reimburse you up to
$750 per month for health, dental, vision and/or supplemental disability
premiums for you and your family.

7. Vacation. You shall be entitled to 20 days paid vacation each year, which
shall accrue monthly. You shall have the right to carry over unused vacation to
the extent permitted by the Company's policy from time to time in effect.
Vacation shall be subject to the Company's vacation policies as set forth in the
employee handbook to be adopted.

8. Term and Termination of Employment. Your employment will commence on
September 11, 2006 (or such other date as may be agreed between you and the
Company) and will terminate on the earliest to occur of the following:

      8.1 upon your death;

                                       -2-

<PAGE>

      8.2 upon the delivery to you of written notice of termination by the
Company if you shall suffer a physical or mental disability which renders you
unable to perform your duties and obligations under this Agreement for either 60
consecutive days or 120 days in any 12-month period;

      8.3 upon 30 days' written notice from you to the Company;

      8.4 upon written notice from you to the Company for one or more of the
following effected without your written consent ("Good Reason"), provided that
such notice is received within 90 days of the event or circumstance constituting
Good Reason: (a) a reduction in your Base Salary; (b) a permanent relocation of
your place of employment by more than 60 miles from your current home address;
(c) the Company hires a chief financial officer senior to you unless you are
promoted to an executive officer position senior to Chief Financial Officer; (d)
you are assigned duties and responsibilities that are materially beneath those
of a chief financial officer (considering in this regard the limited staffing
the Company has and expects to have in the future) and provided that you notify
the Company within five business days of the assignment of such duties that you
believe are the basis of termination of your employment for Good Reason and the
Company does not revoke such duties and responsibilities;

      8.5 upon delivery to you of written notice of termination by the Company
(i) For Cause, or (ii) without cause following receipt of written notice of
termination from you pursuant to Section 8.3 of this Agreement; or

      8.6 upon delivery to you of written notice of termination by the Company
without cause.

9. Severance

      9.1 Upon termination of your employment for any reason, you shall not be
entitled to any severance, except that if you terminate your employment for Good
Reason, or the Company terminates your employment without cause, in either case
prior to the later to occur of August 31, 2007 or six months from completion of
the Company's first acquisition, you shall be entitled to a lump sum severance
payment equal to six months' Base Salary as in effect on the date of termination
(but prior to any reduction in salary that entitled you to terminate your
employment for Good Reason) provided that you execute and deliver to the
Company, and do not revoke, a written release (the "Release"), in form and
substance satisfactory to the Company, of any and all claims against the Company
and its subsidiaries, directors, officers and affiliates with respect to all
matters arising out of your employment by the Company. The Company shall be
entitled to defer payment of any amounts under this Section 9 until the
expiration of any period during which you shall have the right to revoke the
Release.

      9.2 Notwithstanding the timing of payments set forth in this Agreement, if
the Company determines that you are a "specified employee" within the meaning of
Section 409A of the Internal Revenue Code of 1986, as amended, and that, as a
result of such status, any portion of the payment under this Agreement would be
subject to additional taxation, the Company will delay paying any portion of
such payment until the earliest permissible date on which payments may commence
without triggering such additional taxation (with such delay not to exceed six
months), with the first such payment to include the amounts that would have been
paid earlier but for the above delay.

                                       -3-

<PAGE>

10. Certain Definitions. For purposes of this Agreement, the following
capitalized terms have the following meanings:

      10.1 "For Cause" shall mean, in the context of a basis for termination of
your employment with the Company, that:

            10.1.1 you breach any obligation, duty or agreement under this
Agreement, which breach is not cured or corrected within 15 days of written
notice thereof from the Company; or

            10.1.2 you commit any act of personal dishonesty, fraud, breach of
fiduciary duty or trust; or

            10.1.3 you are convicted of, or plead guilty or nolo contendere with
respect to, theft, fraud, a crime involving moral turpitude, or a felony under
federal or applicable state law; or

            10.1.4 you commit any act of personal conduct that, in the
reasonable opinion of the Board, gives rise to a material risk of liability
under federal or applicable state law for discrimination or sexual or other
forms of harassment or other similar liabilities to subordinate employees; or

            10.1.5 you commit continued and repeated substantive violations of
specific written directions of the Board or Chief Executive Officer, which
directions are consistent with this Agreement and your position as Executive
Vice President and Chief Financial Officer, or continued and repeated
substantive failure to perform duties assigned by or pursuant to this Agreement;
provided that no discharge shall be deemed For Cause under this subsection
10.1.5 unless you first receive written notice from the Company advising you of
the specific acts or omissions alleged to constitute violations of written
directions or a material failure to perform your duties, and such violations or
material failure continue after you shall have had a reasonable opportunity to
correct the acts or omissions so complained of; or

            10.1.6 you engage in conduct that is demonstrably and materially
injurious to the Company Group, or that materially harms the reputation or
financial position of the Group, unless the conduct in question was undertaken
in good faith on an informed basis with due care and with a rational business
purpose and based upon the honest belief that such conduct was in the best
interest of the Company Group; or

            10.1.7 you are found liable in any SEC or other civil or criminal
securities law action or entering any cease and desist order with respect to
such action (regardless of whether or not you admit or deny liability) where the
conduct that is the subject of such action is demonstrably and materially
injurious to the Company Group; or

                                       -4-

<PAGE>

            10.1.8 you (i) obstruct or impede, (ii) endeavor to influence,
obstruct or impede, or (iii) fail to materially cooperate with, any
investigation authorized by the Board or any governmental or self-regulatory
entity (an "Investigation") (however, your failure to waive attorney-client
privilege relating to communications with your own attorney in connection with
an Investigation shall not constitute "Cause"); or

            10.1.9 you made any material misrepresentations (or omissions) in
connection with your resume and other documents which may have been provided by
you, and oral statements regarding your employment history, education and
experience, in determining to enter into the Agreement.

      10.2 "Company Group" means GFN and each corporation or entity controlled
directly or indirectly by GFN.

11. Employment "At Will." Nothing in this Agreement constitutes a promise of
continued employment or employment for a specified term. By discussing the terms
of employment with GFN outlined herein, you agree and acknowledge that your
employment relationship with GFN would be at will.

12. Non-Solicitation. During the period from the date your employment with the
Company terminates through the second anniversary of such date, you will not
directly or indirectly, either alone or by action in concert with others: (a)
induce or attempt to influence any employee of any member of the Company Group
to terminate his or her employment with any member of the Company Group; (b)
employ or offer employment to any person who was employed by any member of the
Company Group at the time of termination of your employment with the Company; or
(c) induce or attempt to induce any customer, supplier, licensee or other
business relationship of any member of the Company Group to cease or reduce its
business with any member of the Company Group, or in any way interfere with the
relationship between any such customer, supplier, licensee or business
relationship and any member of the Company Group; or (d) solicit business from
any of the Company's customers.

13. Confidentiality,. You agree not to disclose or use at any time (whether
during or after your employment with the Company) for your own benefit or
purposes or the benefit or purposes of any other person any non-public
information regarding the Company Group and its business, operations, assets,
financial condition and properties, including without limitation, trade secrets,
business plans, policies, pricing information and customer data, provided that
the foregoing covenant shall not restrict you from disclosing information to the
extent required by law. You agree that upon termination of your employment with
the Company for any reason, you will return to the Company immediately all
memoranda, books, papers, plans, information, letters and other data, and all
copies thereof or therefrom, in any way relating to the business of the Company
Group except that you may retain personal notes, notebooks, diaries, rolodexes
and addresses and phone numbers. You further agree that you will not retain or
use for your account at any time any trade names, trademark or other proprietary
business designation used or owned in connection with the business of any member
of the Company Group.

                                       -5-

<PAGE>

14. Withholding. The Company may deduct from any compensation payable to you
(including payments made pursuant to Section 9 of this Agreement in connection
with or following termination of employment) amounts sufficient to cover your
share of applicable federal, state and/or local income tax withholding, old-age
and survivors' and other Social Security payments, state disability and other
insurance premiums and payments.

15. Entire Agreement. The foregoing constitutes the entire agreement between you
and GFN should you elect to proceed. By ultimately accepting, you and GFN are
agreeing to be bound by the terms of this Agreement, and only this Agreement. In
other words, you are not accepting the offer based on an understanding or
promise - oral or written - which is not contained in this Agreement, as this
Agreement would represent the entire agreement and understanding between you and
GFN regarding your employment with the Company should you proceed. Any changes
to the terms of this Agreement can only be in writing and must be signed by you
and either the Chief Executive Officer, President or Chief Operating Officer of
GFN in order to be valid and enforceable. Notwithstanding the foregoing, you
acknowledge that the Company has relied on your resume and other documents which
may have been provided by you, and oral statements regarding your employment
history, education and experience, in determining to enter into the Agreement,
and material misrepresentations (or omissions) in connection with such documents
may constitute the basis of termination For Cause, as contemplated by the
definition of For Cause.

16. Governing Law. This Agreement has been made and entered into in the State of
California and shall be construed in accordance with the laws of the State of
California.

17. Captions. The various captions of this Agreement are for reference only and
shall not be considered or referred to in resolving questions of interpretation
of this Agreement.

18. Counterparts. This Agreement may be executed in any number of counterparts,
each of which shall be deemed to be an original, but all of which together shall
constitute one and the same instrument.

                                       -6-

<PAGE>

We believe that you would be a worthy addition to the GFN team and are capable
of making an outstanding contribution and that we, in turn, can offer you a
challenging and rewarding career. We look forward to working together with you.

Very truly yours,

GENERAL FINANCE CORPORATION

   /s/ John O. Johnson
By -----------------------
   John O. Johnson
   Chief Operating Officer

Accepted and agreed as of
the date set forth above

/s/ Charles E. Barrantes
--------------------------
Charles E. Barrantes

                                       -7-

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