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EXHIBIT 10.1 - FINANCIAL ADVISORY SERVICES AGREEMENT

                                                                    Initials: CB
                                                                              JB

                      FINANCIAL ADVISORY SERVICES AGREEMENT

This Agreement confirms that EMC Holdings Corporation ("EMC") is engaged as an
advisor to SpaceDev, Inc. ("SpaceDev", also known and referred to as "SPDV"),
its successors, subsidiaries and affiliates (collectively referred to herein as,
the "Company"), with respect to financial advisory, market intelligence,
corporate finance, and merger and acquisition matters for twelve (12)
consecutive months effective June 18, 2001. In consideration of the covenants
contained herein, the Parties agree as follows:

During the term of this Agreement, EMC shall provide the Company with such
regular and customary advisory services as are reasonably requested by the
Company, provided that EMC shall not be required to undertake duties not
reasonably within the scope of the advisory services for which it is generally
engaged. In the performance of its duties, EMC shall provide the Company with
its best judgment and efforts. It is understood and acknowledged by the Parties
that the value of EMC's advice is not measurable in a quantitative manner and
EMC shall be obligated to render advice, upon the request of the Company, in
good faith. EMC's duties may include, but will not necessarily be limited to,
the following:

         o        Advice regarding the formation of corporate goals and their
                  implementation
         o        Advice regarding the financial structure of the Company or its
                  divisions or any programs and projects undertaken by any of
                  the foregoing
         o        Advice regarding obtaining financing
         o        Advice regarding corporate organization, personnel, and
                  selection of needed specialty skills
         o        Market Intelligence implementation

The Company acknowledges that EMC and its affiliates are in the business of
providing advisory services (of all types contemplated by this Agreement) to
others. Nothing herein contained shall be construed to limit or restrict EMC or
its affiliates in conducting such business with respect to others or in
rendering such advice to others.

PARTIES AGREE TO THE FOLLOWING TERMS:

         (i)      SPDV agrees to pay EMC a cash-consulting fee in the amount of
                  $285,000. This fee shall be satisfied by SPDV paying EMC
                  $23,750 per month. The first month's payment will be pro-rated
                  on the number of days between signing and the end of the
                  month.

                  The Company may elect to pay EMC an amount greater than or
                  less than $23,750 in any particular month by obtaining written
                  approval from EMC. However, the total amount received by EMC
                  pursuant to the term of this agreement shall not exceed
                  $285,000.

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                  In the event EMC accepts more or less than $23,750 in any
                  particular month, the positive or negative balance shall be
                  carried forward and be added or subtracted on a pro-rated
                  basis to the total $285,000 due EMC.

                  If this contract is terminated before expiration, the amount
                  due EMC shall be equal the amount due up to termination. After
                  twelve (12) months if EMC has received less than $285,000,
                  SPDV will be waived of the remaining balance contingent upon
                  having obtained monthly written approvals from EMC.

         (ii)     PAYMENT. SPDV agrees to make payment due to EMC within five
                  (5) business days of the end of each month during the life of
                  the Agreement. SPDV agrees to make all payments immediately as
                  contemplated in this agreement. Any pre-approved out of pocket
                  expenses (see section (xix), incurred by EMC on SPDV's behalf
                  shall be paid in full within ten (10) business days from
                  receipt of expense report. SPDV agrees to issue payment EMC's
                  consulting services as laid out in section (i) sub headings
                  a), b) and c). Upon termination of this Agreement, all monies
                  and fees or any portion thereof owed to EMC up to the date of
                  termination shall be paid in full.

         (iii)    CONFIDENTIALITY. "Confidentiality" shall mean either Parties
                  trade secrets, operating systems, marketing strategy,
                  knowledge concerning either Party's customers and their
                  specialized requirements (including and lists and databases
                  pertaining thereto), Parties' network insurance broker and
                  agents, any technical, financial, or commercial data or other
                  information (including without limitation ideas, concepts,
                  know-how, methods, techniques, structures, information or
                  materials marketing and development plans and all written
                  documents. The definition of Confidentiality applies, without
                  regard, to whether any specific matters would be deemed
                  confidential, material, and important. The Parties stipulate
                  that the matters are confidential, material, and important,
                  and gravely affect the effective and successful conduct of the
                  Parties' business.

         (iv)     TERM AND TERMINATION. The term of this Agreement shall
                  commence on the effective date, June 18, 2001, and shall
                  remain in effect for a period of twelve (12) months or until
                  terminated as provided herein. It is the intent of the parties
                  that this Agreement shall be renewed for a period of twelve
                  (12) months based on a good faith renegotiation by both
                  Parties of the terms of the Agreement. Termination of this
                  Agreement is at will by either Party upon immediate written
                  notice served on either party either personally, via facsimile
                  transmission, via Federal Express or by United States mail.
                  Section (iii) shall survive the termination of this agreement.
                  Upon termination of this Agreement, all monies and fees or any
                  portion thereof owed to EMC shall be prorated up to the date
                  of termination and shall be paid in full.

         (v)      Governing LAW. All questions concerning this Agreement, its
                  construct, and the rights and liabilities of the Parties
                  hereto shall be interpreted and enforced in accordance with
                  the laws of the State of California. Any controversy or claim
                  arising out of or relating to this contract, or the breach
                  thereof, shall be settled by arbitration administered by the
                  American Arbitration Association in accordance with its

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                  Commercial Arbitration Rules in California, and judgment on
                  the award rendered by the arbitrator(s) may be entered in any
                  court having jurisdiction thereof. In the event of any dispute
                  arising out of this agreement, the prevailing party shall be
                  entitled to recovery of any costs including attorney fees.

         (vi)     MODIFICATION. No modifications to the Agreement may be made
                  unless expressed in writing and agreed to by both Parties.

         (vii)    FORCE MAJEURE. Neither Party shall be in default if failure to
                  perform any obligation hereunder is caused solely by
                  supervening conditions beyond that Party's control, including
                  acts of God, civil commotion, strikes, labor disputes, and
                  governmental demands or requirements.

         (viii)   GENERAL. The services to be provided by EMC hereunder do not
                  include the giving of tax, legal, regulatory, actuarial or
                  other specialist advice or the provision of' any other
                  services unless EMC specifically agrees in writing to provide
                  such services. EMC has no liability in respect of any services
                  or advice provided to the Company by persons other than EMC
                  (including accountants, legal advisers and other specialist
                  advisers) and the degree to which EMC may rely on the work of
                  such other persons shall not be affected by any limitation of
                  liability for such work agreed between them and the Company.

         (ix)     EMC will not be responsible for any due diligence for the
                  Company in relation to any transaction (whether in terms of
                  nature, extent, adequacy or performance). In particular, EMC
                  will not have any responsibility for due diligence which would
                  normally be carried out by specialist advisers (such as
                  accountancy, tax, legal or valuation advisers) notwithstanding
                  that any information or advice from these advisers may be
                  passed on to EMC or passed on by EMC to the Company. It is
                  solely the Company's responsibility to ensure that the
                  information and advice relating to such due diligence is
                  received and considered by the Company and is adequate for the
                  purposes of the transaction.

         (x)      Notwithstanding that EMC is not responsible for due diligence,
                  either Party reserves the right at its absolute discretion and
                  for its own purposes to take whatever steps it may consider
                  appropriate to satisfy itself as to the accuracy and
                  completeness of any public documents issued in connection with
                  any transaction. The Company agrees to co-operate fully with
                  EMC in the taking of such steps.

         (xi)     In addition to all other charges payable to EMC as per the
                  terms hereof, the, Company agrees to reimburse EMC, upon
                  requests made from time to time, for all of its reasonable
                  pre-approved extraordinary out-of-pocket expenses incurred in
                  connection with its activities under this Agreement including
                  but not limited to, travel fees, mailings etc.

         (xii)    EMC agrees to indemnify and hold harmless the Company, its
                  affiliates, officers, directors and employees from and against
                  any losses, claims, damages and liabilities arising from
                  actions taken by EMC not contemplated or within the scope of
                  this Agreement. The Company agrees to indemnify and hold
                  harmless EMC, and EMC agrees to indemnify and hold harmless

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                  the Company and each Parties respective affiliates, officers,
                  directors and employees from and against any losses, claims,
                  damages and liabilities arising from actions taken which were
                  not within the scope of this Agreement pursuant to the terms
                  of the Attached Schedule A Indemnification Agreement. The
                  Attached Schedule A Indemnity Agreement ("the Indemnity
                  Agreement") while written to provide that EMC is indemnified
                  by the Company, it is the intent of the Parties that this
                  Indemnity Agreement be mutual and reciprocal and shall be read
                  for all purposes so that the terms and conditions apply
                  equally to indemnity to or from either Party and the Company
                  shall receive indemnity from EMC under the same terms and
                  conditions as EMC receives indemnity from the Company.

         (xiii)   This Agreement, including Schedule A, constitutes the entire
                  understanding of the parties with respect to the subject
                  matter hereof and may not be altered or amended except in
                  writing signed by both parties. This Agreement shall be
                  governed by and construed under the laws of the State of
                  California without regard to principles of conflicts of law
                  thereof. Neither the execution and delivery of this Agreement
                  by the Company nor the consummation of the transactions
                  contemplated hereby will, directly or indirectly, with or
                  without the giving of notice or lapse of time, or both: (i)
                  violate any provisions of the Certificate of Incorporation or
                  By-laws of the Company; or (ii) violate, or be in conflict
                  with, or constitute a default under, any agreement, lease,
                  mortgage, debt or obligation of the Company or require the
                  payment, any pre-payment or other penalty with respect
                  thereto.

ACCEPTED AND AGREED TO
SPACEDEV, INC.                                 EMC HOLDINGS CORPORATION

BY:      /s/ James W. Benson                   BY:      Christian Burnett
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                           SCHEDULE A INDEMNIFICATION

Recognizing that matters of the type contemplated in this engagement sometimes
result in litigation and that EMC's role is advisory, the Company agrees to
indemnify and hold harmless EMC, its affiliates, and their respective officers,
directors, employees, agents and controlling persons (collectively, the
"Indemnified Parties"), from and against any losses, claims, damages and
liabilities, joint or several, related to or arising in any manner out of any
transaction, financing, proposal or any other matter (collectively, the
"Matters") contemplated by the engagement of EMC hereunder, and will promptly
reimburse the Indemnified Parties for all expenses (including fees and expenses
of legal counsel) as incurred in connection with the investigation of,
preparation for or defense of any pending or threatened claim related to or
arising in any manner out of any Matter contemplated by the engagement of EMC
hereunder, or any action or proceeding arising there from (collectively,
"Proceedings"), whether or not such Indemnified Party is a formal party to any
such Proceeding. Notwithstanding the foregoing, the Company shall not be liable
in respect of any losses, claims, damages, liabilities or expenses that a court
of competent jurisdiction shall have determined by final judgment resulted
solely from the gross negligence or willful misconduct of an Indemnified Party.
The Company further agrees that it will not, without the prior written consent
of EMC, settle, compromise or consent to the entry of any judgment in any
pending or threatened Proceeding in respect of which indemnification may be
sought hereunder (whether or not EMC or any Indemnified Party is an actual or
potential party to such Proceeding), unless such settlement; compromise or
consent includes an unconditional release of EMC and each other Indemnified
Party hereunder from all liability arising out of such Proceeding. In addition,
EMC agrees that it will not settle, compromise or consent to the entry of any
judgment in any pending or threatened Proceeding in respect of which
indemnification is sought under this Agreement, without the prior written
consent of the Company, which consent shall not be unreasonably withheld,
delayed or conditioned.

The Company agrees that if any indemnification or reimbursement sought pursuant
to this Agreement is held by a court for any reason to not be available to any
Indemnified Party or insufficient to hold it harmless as and to the extent
contemplated by this Agreement, then the Company shall contribute to the amount
paid or payable by such Indemnified Party in respect of losses, claims, damages
and liabilities in such proportion as is appropriate to reflect the relative
benefits to the Company and its stockholders on the one hand. EMC in connection
with the Matters to which such indemnification or reimbursement relates or, if
such allocation is not permitted by applicable law, not only such relative
benefits but also the relative faults of such parties to the Company and/or its
stockholders and to EMC with respect to EMC's engagement shall be deemed to be
in the same proportion as (i) the total value paid or received or to be paid or
received by the Company and/or its stockholders pursuant to the Matters (whether
or not consummated) for which EMC is engaged to render financial advisory
services bears to (ii) the fees paid to EMC in connection with such engagement.
In no event shall the Indemnified Parties contribute or otherwise be liable for
an amount in excess of the aggregate amount of fees actually received by EMC
pursuant to such engagement (excluding amounts received by EMC as reimbursement
of expenses).

The Company further agrees that no Indemnified Party shall have any liability
(whether direct of indirect, in contract or tort or otherwise) to the Company
for or in connection with EMC's engagement hereunder except for losses, claims,
damages, liabilities or expenses that a court of competent jurisdiction shall
have determined by final judgment resulted solely from the gross negligence or
willful misconduct of such Indemnified Party. The indemnity, reimbursement and
contribution obligations of the Company shall be in addition to any liability
which the Company may otherwise have and shall be binding upon and inure to the
benefit of any successors, assigns, heirs and personal representatives of the
Company or an Indemnified Party.

The indemnity, reimbursement, contribution provisions set forth herein shall
remain operative and in full force and effect regardless of (i) any withdrawal,
termination or consummation of or failure to initiate or consummate any Matter
referred to herein, (ii) any investigation made by or on behalf of any party
hereto or any person controlling (within the meaning of Section 15 of the
Securities Act of 1933, as amended, or Section 20 of the Securities Exchange Act
of 1934, as amended) any party hereto, (iii) any termination or the completion
or expiration of this Agreement or EMC engagement and (iv) whether or not EMC
shall, or shall not be called upon to, render any formal or informal advice in
the course of such engagement.

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EXHIBIT 10.2 - CONSULTANT/ADVISORY SERVICES AGREEMENT

                                                                    Initials: CB
                                                                              JB

                     CONSULTANT/ADVISORY SERVICES AGREEMENT

This Agreement confirms that EMC Holdings Corporation ("EMC") is engaged as an
advisor to SpaceDev, Inc. ("SpaceDev", also known and referred to as "SPDV"),
its successors, subsidiaries and affiliates (collectively referred to herein as,
the "Company"), with respect to financial advisory, market intelligence,
corporate finance, and merger and acquisition matters for twelve (12)
consecutive months effective June 18, 2001. In consideration of the covenants
contained herein, the Parties agree as follows:

During the term of this Agreement, EMC shall provide the Company with such
regular and customary advisory services as are reasonably requested by the
Company, provided that EMC shall not be required to undertake duties not
reasonably within the scope of the advisory services for which it is generally
engaged. In the performance of its duties, EMC shall provide the Company with
its best judgment and efforts. It is understood and acknowledged by the Parties
that the value of EMC's advice is not measurable in a quantitative manner and
EMC shall be obligated to render advice, upon the request of the Company, in
good faith. EMC's duties may include, but will not necessarily be limited to,
the following:

         o        Advice regarding the formation of corporate goals and their
                  implementation
         o        Advice regarding the financial structure of the Company or its
                  divisions or any programs and projects undertaken by any of
                  the foregoing
         o        Advice regarding corporate organization, personnel, and
                  selection of needed specialty skills

The Company acknowledges that EMC and its affiliates are in the business of
providing advisory services (of all types contemplated by this Agreement) to
others. Nothing herein contained shall be construed to limit or restrict EMC or
its affiliates in conducting such business with respect to others or in
rendering such advice to others.

PARTIES AGREE TO THE FOLLOWING TERMS:

         (xiv)    SPDV understands and agrees that the fees are for counsel. In
                  connection with the consulting services being provided to
                  SpaceDev by EMC, SPDV agrees to issue to EMC one million two
                  hundred thousand (1,200,000) shares of SPDV's restricted 144
                  common stock to be dispersed over a six (6) month period. All
                  stock issued is non-cancelable and non-refundable. The shares
                  are to be dispersed as follows during the term of this
                  agreement:
                  a)       Five hundred thousand (500,000) shares of
                           non-cancelable and non-refundable 144 common stock
                           upon seven (7) days from execution of this Agreement.
                  b)       Four hundred thousand (400,000) shares of
                           non-cancelable and non-refundable 144 common stock
                           shall be issued October 18, 2001.
                  c)       Three hundred thousand (300,000) shares of
                           non-cancelable and non-refundable 144 common stock
                           shall be issued December 18, 2001.

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         (xv)     Immediately upon signing, both Parties shall mutually prepare
                  a timeline of goals and objectives that will be mutually
                  agreed to seven days from the effective date.

         (xvi)    PAYMENT. SPDV agrees to make all payments immediately as
                  contemplated in this agreement. Any pre-approved out of pocket
                  expenses (see section (xix), incurred by EMC on SPDV's behalf
                  shall be paid in full within ten (10) business days from
                  receipt of expense report. SPDV agrees to issue as payment,
                  the stock for EMC's consulting services as laid out in section
                  (i) sub headings a), b) and c). Upon termination of this
                  Agreement, all monies and fees or any portion thereof owed to
                  EMC up to the date of termination shall be paid in full

         (xvii)   CONFIDENTIALITY. "Confidentiality" shall mean either Parties
                  trade secrets, operating systems, marketing strategy,
                  knowledge concerning either Party's customers and their
                  specialized requirements (including and lists and databases
                  pertaining thereto), Parties' network insurance broker and
                  agents, any technical, financial, or commercial data or other
                  information (including without limitation ideas, concepts,
                  know-how, methods, techniques, structures, information or
                  materials marketing and development plans and all written
                  documents. The definition of Confidentiality applies, without
                  regard, to whether any specific matters would be deemed
                  confidential, material, and important. The Parties stipulate
                  that the matters are confidential, material, and important,
                  and gravely affect the effective and successful conduct of the
                  Parties' business.

         (xviii)  TERM AND TERMINATION. The term of this agreement shall
                  commence on the effective date, June 18, 2001, and shall
                  remain in effect for a period of twelve (12) months or until
                  terminated as provided herein. It is the intent of the parties
                  that this Agreement shall be renewed for a period of twelve
                  (12) months based on a good faith renegotiation by both
                  Parties of the terms of the Agreement. Termination of this
                  Agreement is at will by either Party upon thirty-days (30)
                  days written notice. Written notice served on either party
                  either personally, via facsimile transmission, Federal Express
                  or by United States mail. Section (iv) shall survive the
                  termination of this agreement. With the exception of common
                  stock payable under section (i) above, which shall not be
                  prorated, upon termination of this Agreement, all monies,
                  compensation and fees or any portion thereof owed to EMC shall
                  be prorated up to the date of termination and shall be paid in
                  full.

         (xix)    Governing LAW. All questions concerning this Agreement, its
                  construct, and the rights and liabilities of the Parties
                  hereto shall be interpreted and enforced in accordance with
                  the laws of the State of California. Any controversy or claim
                  arising out of or relating to this contract, or the breach
                  thereof, shall be settled by arbitration administered by the
                  American Arbitration Association in accordance with its
                  Commercial Arbitration Rules of California, and judgment on
                  the award rendered by the arbitrator(s) may be entered in any
                  court having jurisdiction thereof. In the event of any dispute
                  arising out of this agreement, the prevailing party shall be
                  entitled to the recovery of any costs including attorney's
                  fees.

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         (xx)     MODIFICATION. No modifications to the Agreement may be made
                  unless expressed in writing and agreed to by both Parties.

         (xxi)    FORCE MAJEURE. Neither Party shall be in default if failure to
                  perform any obligation hereunder is caused solely by
                  supervening conditions beyond that Party's control, including
                  acts of God, civil commotion, strikes, labor disputes, and
                  governmental demands or requirements.

         (xxii)   Company agrees to lock up any shares, options, warrant of SPDV
                  held by James Benson, Susan Benson, Charles Lloyd and Stanley
                  Dubyn, including immediate family members, during the term of
                  this agreement, shall not sell, offer to sell, dispose of
                  directly or indirectly in any manner whatsoever SPDV stock.
                  EMC likewise agrees not to permit or cause any of its
                  restricted SPDV securities to be made unrestricted before the
                  legal restriction period, or to be offered, sold or disposed
                  of directly or indirectly, in any manner whatsoever during the
                  term of this Agreement. The Company shall cause all of the
                  foregoing persons to execute an agreement with EMC regarding
                  such restrictions in form and substance satisfactory to EMC
                  and its counsel.

         (xxiii)  Additionally, if EMC introduces the Company to another party
                  or entity during the term of this Agreement and, as a result
                  of such introduction, a financing transaction is consummated
                  during the twelve (12) month period following the term of this
                  Agreement, the Company shall pay EMC upon the consummation of
                  such financing transaction a fee equal ten percent (10%) of
                  the value of said transaction.

         (xxiv)   ACQUISITION TRANSACTION. For purposes of this Agreement, the
                  term "Acquisition Transaction" means (i) any merger,
                  consolidation, reorganization or other business combination
                  pursuant to which the businesses of a third party are combined
                  with that of the Company, (ii) the acquisition, directly or
                  indirectly, by the Company of all or a substantial portion of
                  the assets or common equity of a third party by way of
                  negotiated purchase or otherwise or (iii) the acquisition,
                  directly or indirectly, by a third party of all or a
                  substantial portion of the assets or common equity of the
                  Company by way of negotiated purchase or otherwise.

         (xxv)    In connection with a proposed Acquisition Transaction, EMC's
                  advisory services may include the following: (a) assistance in
                  the evaluation of a third party from a financial point of
                  view, (b) assistance and advice with respect to the form and
                  structure of the Acquisition Transaction and the financing
                  thereof, (c) conducting discussions and negotiations regarding
                  an Acquisition Transaction or (d) providing other related
                  advice and assistance as the Company may reasonably requestin
                  connection with an Acquisition Transaction.

         (xxvi)   For purpose of this Agreement, "Consideration" means the
                  aggregate value, whether in cash, securities, assumption (or
                  purchase subject to) of debt or liabilities (including,
                  without limitation, indebtedness for borrowed money, pension

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                  liabilities and guarantees) or other property, obligations or
                  services, paid or payable directly or indirectly (in escrow or
                  otherwise) or otherwise assumed in connection with an
                  Acquisition Transaction. The value of such Consideration shall
                  be determined as follows:

                  (a)      The value of securities, liabilities, obligations,
                           property and services shall be the fair market value
                           as we shall mutually agree upon at the date of the
                           closing of the Acquisition Transaction; and

                  (b)      The value of indebtedness, including indebtedness
                           assumed, shall be the face amount.

         (xxvii)  If the Consideration payable in an Acquisition Transaction
                  includes contingent payments to be calculated by reference to
                  uncertain future occurrences, such as future financial or
                  business performance, then any fees of EMC relating to such
                  Consideration shall be payable at the time of the receipt of
                  such Consideration.

         (xxviii) In connection with our services, the Company agrees that if,
                  during the term of this Agreement or, within one year
                  thereafter, an Acquisition Transaction is consummated with a
                  third party introduced by EMC, or the Company enters into a
                  definitive agreement with a third party introduced by EMC,
                  which at any time thereafter results in an Acquisition
                  Transaction, the Company will pay EMC a transaction fee equal
                  to ten percent (10%) of the Consideration.

         (xxix)   GENERAL. The services to be provided by EMC hereunder do not
                  include the giving of tax, legal, regulatory, actuarial or
                  other specialist advice or the provision of' any other
                  services unless EMC specifically agrees in writing to provide
                  such services. EMC has no liability in respect of any services
                  or advice provided to the Company by persons other than EMC
                  (including accountants, legal advisers and other specialist
                  advisers) and the degree to which EMC may rely on the work of
                  such other persons shall not be affected by any limitation of
                  liability for such work agreed between them and the Company.

         (xxx)    EMC will not be responsible for any due diligence for the
                  Company in relation to any transaction (whether in terms of
                  nature, extent, adequacy or performance). In particular, EMC
                  will not have any responsibility for due diligence which would
                  normally be carried out by specialist advisers (such as
                  accountancy, tax, legal or valuation advisers) notwithstanding
                  that any information or advice from these advisers may be
                  passed on to EMC or passed on by EMC to the Company. It is
                  solely the Company's responsibility to ensure that the
                  information and advice relating to such due diligence is
                  received and considered by the Company and is adequate for the
                  purposes of the transaction.

         (xxxi)   Notwithstanding that EMC is not responsible for due diligence,
                  either Party reserves the right at its absolute discretion and
                  for its own purposes to take whatever steps it may consider
                  appropriate to satisfy itself as to the accuracy and

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                  completeness of any public documents issued in connection with
                  any transaction. The Company agrees to co-operate fully with
                  EMC in the taking of such steps.

         (xxxii)  In addition to all other charges payable to EMC as per the
                  terms hereof, the, Company agrees to reimburse EMC, upon
                  requests made from time to time, for all of its reasonable
                  pre-approved extraordinary out-of-pocket expenses incurred in
                  connection with its activities under this Agreement.

         (xxxiii) EMC agrees to indemnify and hold harmless the Company, its
                  affiliates, officers, directors and employees from and against
                  any losses, claims, damages and liabilities arising from
                  actions taken by EMC not contemplated or within the scope of
                  this Agreement. The Company agrees to indemnify and hold
                  harmless EMC, and EMC agrees to indemnify and hold harmless
                  the Company and each Parties respective affiliates, officers,
                  directors and employees from and against any losses, claims,
                  damages and liabilities arising from actions taken which were
                  not within the scope of this Agreement pursuant to the terms
                  of the Attached Schedule A Indemnification Agreement. The
                  Attached Schedule A Indemnity Agreement ("the Indemnity
                  Agreement") while written to provide that EMC is indemnified
                  by the Company, it is the intent of the Parties that this
                  Indemnity Agreement be mutual and reciprocal and shall be read
                  for all purposes so that the terms and conditions apply
                  equally to indemnity to or from either Party and the Company
                  shall receive indemnity from EMC under the same terms and
                  conditions as EMC receives indemnity from the Company.

         (xxxiv)  This Agreement, including Schedule A, constitutes the entire
                  understanding of the parties with respect to the subject
                  matter hereof and may not be altered or amended except in
                  writing signed by both parties. This Agreement shall be
                  governed by and construed under the laws of the State of
                  California without regard to principles of conflicts of law
                  thereof. Neither the execution and delivery of this Agreement
                  by the Company nor the consummation of the transactions
                  contemplated hereby will, directly or indirectly, with or
                  without the giving of notice or lapse of time, or both: (i)
                  violate any provisions of the Certificate of Incorporation or
                  By-laws of the Company; or (ii) violate, or be in conflict
                  with, or constitute a default under, any agreement, lease,
                  mortgage, debt or obligation of the Company or require the
                  payment, any pre-payment or other penalty with respect
                  thereto.

ACCEPTED AND AGREED TO
SPACEDEV, INC.                              EMC HOLDINGS CORPORATION

BY:                                         BY:
         -----------------------------               ---------------------------

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                           SCHEDULE A INDEMNIFICATION

Recognizing that matters of the type contemplated in this engagement sometimes
result in litigation and that EMC's role is advisory, the Company agrees to
indemnify and hold harmless EMC, its affiliates, and their respective officers,
directors, employees, agents and controlling persons (collectively, the
"Indemnified Parties"), from and against any losses, claims, damages and
liabilities, joint or several, related to or arising in any manner out of any
transaction, financing, proposal or any other matter (collectively, the
"Matters") contemplated by the engagement of EMC hereunder, and will promptly
reimburse the Indemnified Parties for all expenses (including fees and expenses
of legal counsel) as incurred in connection with the investigation of,
preparation for or defense of any pending or threatened claim related to or
arising in any manner out of any Matter contemplated by the engagement of EMC
hereunder, or any action or proceeding arising there from (collectively,
"Proceedings"), whether or not such Indemnified Party is a formal party to any
such Proceeding. Notwithstanding the foregoing, the Company shall not be liable
in respect of any losses, claims, damages, liabilities or expenses that a court
of competent jurisdiction shall have determined by final judgment resulted
solely from the gross negligence or willful misconduct of an Indemnified Party.
The Company further agrees that it will not, without the prior written consent
of EMC, settle, compromise or consent to the entry of any judgment in any
pending or threatened Proceeding in respect of which indemnification may be
sought hereunder (whether or not EMC or any Indemnified Party is an actual or
potential party to such Proceeding), unless such settlement; compromise or
consent includes an unconditional release of EMC and each other Indemnified
Party hereunder from all liability arising out of such Proceeding. In addition,
EMC agrees that it will not settle, compromise or consent to the entry of any
judgment in any pending or threatened Proceeding in respect of which
indemnification is sought under this Agreement, without the prior written
consent of the Company, which consent shall not be unreasonably withheld,
delayed or conditioned.

The Company agrees that if any indemnification or reimbursement sought pursuant
to this Agreement is held by a court for any reason to not be available to any
Indemnified Party or insufficient to hold it harmless as and to the extent
contemplated by this Agreement, then the Company shall contribute to the amount
paid or payable by such Indemnified Party in respect of losses, claims, damages
and liabilities in such proportion as is appropriate to reflect the relative
benefits to the Company and its stockholders on the one hand. EMC in connection
with the Matters to which such indemnification or reimbursement relates or, if
such allocation is not permitted by applicable law, not only such relative
benefits but also the relative faults of such parties to the Company and/or its
stockholders and to EMC with respect to EMC's engagement shall be deemed to be
in the same proportion as (i) the total value paid or received or to be paid or
received by the Company and/or its stockholders pursuant to the Matters (whether
or not consummated) for which EMC is engaged to render financial advisory
services bears to (ii) the fees paid to EMC in connection with such engagement.
In no event shall the Indemnified Parties contribute or otherwise be liable for
an amount in excess of the aggregate amount of fees actually received by EMC
pursuant to such engagement (excluding amounts received by EMC as reimbursement
of expenses).

The Company further agrees that no Indemnified Party shall have any liability
(whether direct of indirect, in contract or tort or otherwise) to the Company
for or in connection with EMC's engagement hereunder except for losses, claims,
damages, liabilities or expenses that a court of competent jurisdiction shall
have determined by final judgment resulted solely from the gross negligence or
willful misconduct of such Indemnified Party. The indemnity, reimbursement and
contribution obligations of the Company shall be in addition to any liability
which the Company may otherwise have and shall be binding upon and inure to the
benefit of any successors, assigns, heirs and personal representatives of the
Company or an Indemnified Party.

The indemnity, reimbursement, contribution provisions set forth herein shall
remain operative and in full force and effect regardless of (i) any withdrawal,
termination or consummation of or failure to initiate or consummate any Matter
referred to herein, (ii) any investigation made by or on behalf of any party
hereto or any person controlling (within the meaning of Section 15 of the
Securities Act of 1933, as amended, or Section 20 of the Securities Exchange Act
of 1934, as amended) any party hereto, (iii) any termination or the completion
or expiration of this Agreement or EMC engagement and (iv) whether or not EMC
shall, or shall not be called upon to, render any formal or informal advice in
the course of such engagement.

                                                                     Page 6 of 6

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