Document:

Exhibit
10.15

EMPLOYMENT
AGREEMENT

          This
Employment Agreement (this “Agreement”) is entered into as of June 1, 2004 by
and between Lynn Courville (the “Executive”) and Mobile Storage Group, Inc., a
Delaware corporation (the “Company”).  

          WHEREAS,
the Company desires the Executive to serve as its Director of Human Resources,
and the Executive desires to serve as the Director of Human Resources of the
Company for the term and upon the other conditions hereinafter set forth;

          NOW,
THEREFORE, in consideration of the agreements and covenants contained herein,
the Executive and the Company hereby agree as follows:

ARTICLE
1

Employment

          Section
1.1. Position; Term; Condition Precedent; Responsibilities. The Company
shall employ the Executive as its Director of Human Resources based in Burbank,
California for a term commencing on July 7, 2004 (the “Commencement Date”) and
ending on the date this Agreement is terminated pursuant to Article 3. The term
of employment as prescribed in this Section 1.1 is hereinafter called
the “Employment Period” Subject to the powers, authorities and responsibilities
vested in the Board of Directors (the “Board”) of the Company and in duly
constituted committees of the Board under the Delaware General Corporation Law
and the Company’s Certificate of Incorporation and Bylaws, the Executive shall
have the responsibilities assigned to her by the President and Chief Executive
Officer of the Company and shall report to the President. The Executive shall
also perform such other executive and administrative duties as the Executive
may reasonably be expected to be capable of performing on behalf of the Company
and its subsidiaries, as may from time to time be authorized or requested by
the President. The Executive agrees to be employed by the Company in all such
capacities for the Employment Period, subject to all the covenants and
conditions hereinafter set forth.  

          Section
1.2. Faithful Performance. During the Employment Period, the Executive
shall perform faithfully the duties assigned to her hereunder to the best of
her abilities and devote substantially all of her business time and attention
to the transaction of the business of the Company and its subsidiaries and not
engage in any other business activities except with the approval of the Board.
The Executive covenants, warrants and represents to the Company that she shall:
(i) devote her best efforts to the fulfillment of her employment obligations;
(ii) exercise the highest degree of loyalty and the highest ethical standards
of conduct in the performance of her duties; and (iii) do nothing which the
Executive knows or should know will harm, in any way, the business or reputation
of the Company or any of its subsidiaries.

ARTICLE 2

Compensation

          Section
2.1. Basic Compensation. As compensation for her services hereunder, the
Company shall pay to the Executive during the Employment Period an annual
salary of $105,000 (the “Base Salary”), payable in installments in accordance
with the Company’s normal payment schedule for senior management of the Company
and subject to payroll deductions as may be necessary or customary in respect
of the Company’s salaried employees. The Executive’s annual salary in effect
from time to time under this Section 2.1 is hereinafter called her “Basic Compensation”.
Such Basic Compensation shall be determined on a pro rata basis for any
period described in Article 3 which is not equal to one year.  

          Section
2.2. Discretionary Incentive Compensation. A discretionary bonus for
2004 may be paid upon the achievement of operational and strategic objectives.
Notwithstanding anything to the contrary herein, the maximum discretionary
bonus that Executive may earn during 2004 shall be pro-rated based on the
number of days in the Employment Period during 2004. Such operational and
strategic objectives shall be established by the President, and any
discretionary bonus payable hereunder shall be payable within 30 days after
finalization of the Company’s audited financial statements for the immediately
preceding fiscal year, subject to final Board approval. Any discretionary bonus
paid to Executive hereunder shall be referred to herein as a “Discretionary
Bonus.” 

          Section
2.3. Stock Options; Stockholders Agreement. The Executive shall be
eligible to receive options to acquire shares of common stock pursuant to the
Company’s 2002 Stock Incentive Plan (the “Plan”), based upon and subject to the
discretion of the Board. Subject to the fiduciary duties of the Company’s Board
under applicable law as advised by counsel, the Board of the Company (or its
Executive or Compensation Committee, if any) shall adopt a stock option
agreement setting forth the terms of any options granted and the grant shall be
subject to the execution by the Executive and the Company of such agreement.
The Executive shall execute and agree to abide by the terms of the Company’s
Stockholders Agreement.

          Section
2.4. Other Employee Benefits. The Executive shall be entitled to
participate in all employee benefit plans, including group health care plans,
disability plans and life insurance plans of the Company, to take up to three
(3) weeks of time off for vacation and to receive all such fringe benefits
(including 401(k) savings plan) as are from time to time made generally
available to the senior management of the Company. The Company shall pay all
costs of the participation of Executive and the immediately family of Executive
in the group health care plan of the Company, except for payment of co-payments
and deductibles which shall be paid by Executive. Executive shall pay all costs
incurred by the participation of Executive and the immediate family of
Executive in the dental plan of the Company. The Company shall reimburse Executive for costs
incurred by Executive under COBRA commencing on the last day of the Executive’s
employment with her employer immediately prior to the Company and ending upon
the later of (i) August 1, 2004 or (ii) the first date that Executive is
eligible to participate in the group health care plan of the Company. The
Company shall reimburse Executive fifty percent (50%) of the tuition fees
incurred by Executive in taking classes toward a Masters of Business
Administration. The Company shall reimburse Executive for reasonable costs incurred
by

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Executive to move to
Burbank, California and pay the mortgage on her primary residence until such
residence is sold and as incurred by Employee in an aggregate amount not to
exceed $3,300. The Company shall reimburse Executive for the reasonable real
estate brokerage commission incurred by Executive in connection with the sale
of her primary residence. Company shall pay Executive a car allowance of
$450.00 per month.

          Section
2.5. Expense Reimbursements. The Company shall reimburse the Executive
for all proper expenses reasonably incurred by her in the performance of her
duties hereunder in accordance with the policies and procedures established by
the Board.

ARTICLE 3

Termination of Employment

          Section
3.1. Events of Termination.

          (a)
In the event during the Employment Period there should occur any of the
following (as determined by the Board): (i) the “Disability” (as
hereinafter defined) of the Executive, (ii) “Cause” (as hereinafter
defined) of the Executive or (iii) the breach by the Executive of the terms of
Article 4 of this Agreement, the Board may elect to terminate the rights and
obligations of the parties hereunder by written notice to the Executive, except
as otherwise provided in this Section 3.1. In the event the Board
exercises its election to terminate the Executive pursuant to this Section 3.1,
the Employment Period shall terminate effective with such notice, and
the Executive shall be entitled to receive any accrued but unpaid amounts under
Section 2.1 and any incurred but unreimbursed expenses under Section 2.5,
in each case through the effective date of such termination, less standard
withholdings for tax and social security purposes. Except as set forth in Section 3.1(b)
and as otherwise required under any applicable benefit plan or
statute, the Executive shall not be entitled to receive any other amount under
this Agreement. 

          (b)
In the case of (i) termination of this Agreement pursuant to Section 3.1(a)(i),
(ii) termination of this Agreement without Cause or (iii)
termination pursuant to Section 3.3 for “Good Reason”, the Executive shall be
entitled to: (A) participate in the insurance benefits described in Section
2.4 for a period of six (6) months from the date of the termination of this
Agreement (the “Termination Date”); provided,
however, that the Executive’s right to participate in
insurance benefits shall terminate in the event the Executive obtains new
employment and has the ability to obtain comparable insurance benefits through
such new employment and (B) receive compensation equal to the Basic
Compensation, as determined pursuant to Section 2.1, for a period of six
(6) months after the Termination Date. In each case such amounts shall be
payable in accordance with the Company’s payroll procedures for senior
management and as if the Executive’s employment had continued for such period. 

          Section
3.2. Death. In the event of the death of the Executive during the
Employment Period, this Agreement shall be deemed immediately terminated and
her Designated Successors shall be entitled to: (A) receive any accrued and
unpaid compensation under Section 2.1, (B) receive reimbursement for any
unreimbursed expenses under Section 2.5, and (C) receive the
Discretionary Bonus, if any, as determined pursuant to Section 2.2,
provided that the amount of such Discretionary Bonus shall be prorated to the
date of termination, in each case less standard 

3

withholdings for tax and
social security purposes. In each case, such amounts shall be payable in
accordance with the Company’s payroll procedures for senior management and as
if the Executive’s employment had continued for such period. In addition,
family members of the Executive who were participating in any of the insurance
benefits described in Section 2.4 on the date of the termination of this
Agreement shall continue to participate in such insurance benefits for a period
commencing as of the termination of this Agreement and ending six months from
the termination of this Agreement.

          Section
3.3. Voluntary Termination by Employee. If the Executive chooses to
terminate her employment with the Company, the Executive shall provide written
notice to such effect to the Company’s Board, in which case the Employment
Period shall terminate effective with such notice, and the Executive shall be
entitled to receive any accrued but unpaid amounts under Section 2.1
and any incurred but unreimbursed expenses under Section 2.5 less
standard withholdings for tax and social security purposes, in each case through
the effective date of such termination and, except as required under any
applicable benefit plan or statute, the Executive shall not be entitled to
receive any other amount under this Agreement. A termination by the Executive
of her employment with the Company will be considered to be for “Good
Reason” if it follows, within a reasonable period of time thereafter, (x) a
material breach of the Company’s obligations under this Agreement, or (y) the
President and Chief Executive Officer determines in his reasonable discretion
that the Executive terminated such employment for “Good Reason” under the
circumstances then prevailing.

          Section
3.4. Definitions of Certain Terms.

          (a)
“Cause” used in connection with the termination of employment of
Executive shall mean a termination due to a finding by the Board in good faith
that such Executive has (i) failed to substantially perform Executive’s duties
(as reasonably imposed by the Company) (other than failure resulting from
Executive’s Disability), persisting for a reasonable period following the
delivery to Executive of written notice specifying the details of any alleged
failure to perform; (ii) violated or failed to comply in any material respect
with the Company’s published rules, regulations or policies, as currently in
effect or as may be adopted from time to time; (iii) breached this Agreement in
any material respect; (iv) been convicted of any felony offense or a
misdemeanor offense involving fraud, theft or dishonesty at any time; or (v)
been incarcerated during the term of this Agreement.

          (b)
“Designated Successors” shall mean such person or persons or the
executors, administrators or other legal representatives of such person or
persons (and in such order of priority) as the Executive may have designated in
a written instrument filed with the Secretary of the Company.

          (c)
“Disability” shall mean the inability of Executive to substantially
render to the Company the services required by the Company under this Agreement
for more than 60 days out of any consecutive 120 day period because of mental
or physical illness or incapacity, as determined in good faith by the Board. The
date of such Disability shall be on the last day of such 60 day period.
Disability shall also mean the development of any illness which is likely to
result in either death or Disability, as determined in good faith by the Board.

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ARTICLE 4

Non-Competition; Confidential Information

          Section
4.1 Non-Competition.

                    (a)
From the date hereof until the termination of the Employment Period (subject to
extention as set forth below, the “Non-Competition Period”), the
Executive:

                              (i)
shall not engage, directly or indirectly, in any activities whether as
employer, proprietor, partner, shareholder (other than the holder of less than
5% of the stock of a corporation, the securities of which are traded on a
national securities exchange or in the over-the-counter market), director,
officer, employee or otherwise, in competition within the United States,
England and Canada with the Company or any of its affiliates;

                              (ii)
shall not solicit, directly or indirectly, any person who is a customer or
supplier of the Company, any of its affiliates or Windward Capital Partners II,
L.P., Windward Capital II, LP, LLC, Windward/MSG Co-Invest, LLC and Windward
Acquisition/MS, LLC (collectively, “Windward”) for the purpose of acquiring,
marketing, leasing or selling mobile or fixed storage containers (the “Company
Business”); and  

                              (iii)
shall not induce or actively attempt to persuade any employee of the Company,
any of its affiliates or Windward to terminate his employment relationship in
order to enter into any competitive employment.

          (b)
Except as required by law, the Executive shall not, at any time during the Non-Competition
Period or thereafter, make use of any confidential information of
the Company, Windward or any of their respective affiliates, nor divulge any
trade secrets or proprietary or confidential information of the Company,
Windward or any of their respective affiliates (including, without limitation,
information relating to customers, suppliers, contracts, business plans and
developments, discoveries, processes, products, systems, know-how, books and
records), except to the extent that such information becomes a matter of public
record (other than as a result of disclosure by the Executive), is published in
a newspaper, magazine or other periodical available to the general public or as
Windward may so authorize in writing. When the Executive shall cease to be
employed by the Company, the Executive shall surrender to the Company or
Windward all records and other documents obtained by her or entrusted
to her during the course of her employment hereunder (together with all copies
thereof) which pertain to the business of the Company or Windward or which were
paid for by the Company other than the Executive’s counterparts of this
Agreement and employment-related documents referred to herein.

          (c)
The covenants contained in clauses (i) and (ii) of Section 4.1(a) shall apply
within all territories in which the Company is actively engaged in the conduct
of business during the Non-Competition Period.

          (e)
It is the desire and intent of the parties that the provisions of Sections
4.1(a) and 4.l(b) shall be enforced to the fullest extent
permissible under the law and public policies applied in each jurisdiction in
which enforcement is sought. Accordingly, if any particular provision of

5

Sections
4.1(a) or 4.1(b)
shall be adjudicated to be invalid or unenforceable, such provision shall be
deemed amended to delete therefrom the portion thus adjudicated to be invalid
or unenforceable, such deletion to apply only with respect to the operation of
such provision in the particular jurisdiction in which such adjudication is
made. In addition, should any court determine that the provisions of Sections
4.1(a) or 4.1(b) shall be unenforceable with respect to scope,
duration or geographic area, such court shall be empowered to substitute, to
the extent enforceable, provisions similar hereto or other provisions so as to
provide to the Company and Windward, to the fullest extent permitted by applicable
law, the benefits intended by Sections 4.1(a) and 4.l(b).

          (f)
The covenants contained in Section 4.1(b) shall survive the conclusion
of the Executive’s employment by the Company.

          (g)
If, at any time, the Executive sells or transfers any securities of the Company
to the Company or to any then-current stockholder of the Company, a subsequent
Non-Competition Period shall begin on the effective date of any such sale or
transfer and expire on the first anniversary of such effective date; provided,
however, that such subsequent Non-Competition Periods shall not extend beyond
the tenth (10th) anniversary of the date hereof. Each and every provision of
this Agreement applicable to the Executive and the Company during the original
Non-Competition Period shall apply with equal force and effect to the Executive
and the Company during such subsequent Non-Competition Period and any reference
in this Agreement to the “Non-Competition Period” shall be deemed to include
such subsequent Non-Competition Period.

          (h)
In the event Executive violates any provision of this Agreement, the running of
the time period of such provisions so violated shall be automatically suspended
upon the date of such violation and shall resume on the date such violation
ceases and all appeals, if any, are resolved.

          (i)
The Executive acknowledges and agrees that the covenants, obligations and
agreements of the Executive contained herein relate to special, unique and
extraordinary matters and that a violation of any of the terms of such
covenants, obligations or agreements will cause the Company and its successors
irreparable injury for which adequate remedies are not available at law. In the
event of a breach or threatened breach by Executive of any provision of this
Agreement, the Company and its successors, without proving actual damages,
shall be entitled to an injunction (without the requirement to post bond)
restraining Executive from (a) soliciting or interfering with employees,
consultants, independent contractors, customers or suppliers of the Company,
its affiliates or their respective successors, (b) disclosing, in whole or in
part, the private, secret and confidential information described herein, or
from rendering any services to any person, firm, corporation, association or
other entity to whom such information has been disclosed, or is
threatened to be disclosed, (c) engaging, participating or otherwise being
connected with any arrangement in competition with the Company’s Business
described in Section 4.1 or (d) otherwise violating the provisions of
this Agreement. Nothing herein contained shall be construed as prohibiting the
Company or its successors from pursuing any other remedies available to it or
them for such breach or threatened breach, including without limitation the
recovery of damages from Executive.

6

          (j)
The Executive acknowledges and agrees that she has and will have a prominent
role in the management, and the development of the goodwill, of the Company and
its affiliates and has and will establish and develop relations and contacts
with the principal customers and suppliers of the Company and its affiliates in
the United States and the rest of the world, if any, all of which constitute
valuable goodwill of, and could be used by the Executive to compete unfairly
with, the Company and its affiliates and that (i) the Executive has obtained
confidential and proprietary information and trade secrets concerning the
business and operations of the Company and its affiliates in the United States
and the rest of the world that could be used to compete unfairly with the
Company and its affiliates, (ii) the covenants and restrictions contained
herein are intended to protect the legitimate interests of the Company and its
affiliates in their respective goodwill, trade secrets and other confidential
and proprietary information, and (iii) the Executive desires to be bound by
such covenants and restrictions.

          (k)
The Executive represents that her economic means and circumstances are such
that the provisions of this Agreement, including the restrictive covenants
herein, will not prevent her from providing for herself and her family on a
basis satisfactory to her and them.

          (l)
If the Executive raises any question as to the enforceability of any part or
terms of this Agreement, including, without limitation, the restrictive
covenants contained herein, the Executive agrees that she will comply fully
with this Agreement unless and until the entry of an award to the contrary.

ARTICLE 5

Miscellaneous

          Section
5.1. Notices. Any notice or request required or permitted to be given
hereunder shall be sufficient if in writing and delivered personally or sent by
registered or certified mail, return receipt requested, as follows: if to the
Executive, to her address as set forth in the records of the Company, and if to
the Company, to the Company’s address hereinabove set forth, or to any other
address designated by either party by notice similarly given. Such notice shall
be deemed to have been given upon the personal delivery or such mailing
thereof, as the case may be.

          Section
5.2. Authority; No Conflict. The Executive represents and warrants to
the Company that she has full right and authority to execute and deliver this
Agreement and to comply with the terms and provisions hereof and that the
execution and delivery of this Agreement and compliance with the terms and
provisions hereof by the Executive will not conflict with or result in a breach
of the terms, conditions or provisions of any agreement, restriction or
obligation by which the Executive is bound.

          Section
5.3. Assignment and Succession. The rights and obligations of the
Company under this Agreement shall inure to the benefit of and be binding
upon its respective successors and assigns, and the Executive’s rights and
obligations hereunder shall inure to the benefit of and be binding upon her
Designated Successors. The Executive may not assign any obligations or
responsibilities she has under this Agreement.

7

          Section
5.4. Headings. The Article, Section, paragraph and subparagraph headings
are for convenience of reference only and shall not define or limit the
provisions hereof.

          Section
5.5. Tax Withholding. The Company may withhold from any amounts payable
under this Agreement, including, without limitation, any Discretionary Bonus
paid hereunder, all Federal, state, city or other taxes as may be required
pursuant to any law, regulation or ruling.

          Section
5.6. Applicable Law. This Agreement shall at all times be governed by
and construed, interpreted and enforced in accordance with the internal laws
(as opposed to conflict of laws provisions) of the State of California.

          Section
5.7. Waiver. No waiver of any right or remedy of either party hereto
under this Agreement shall be effective unless in a writing, specifying such
waiver, executed by such party. A waiver by either party hereto of any of its
rights or remedies under this Agreement on any occasion shall not be a bar to
the exercise of the same right or remedy on any subsequent occasion or of any
other right or remedy at any time.

          Section
5.8. Amendment or Modification. This Agreement may be amended, altered,
or modified only by a writing, specifying such amendment, alteration or
modification, executed by all of the parties.

          Section
5.9. Counterparts. This Agreement may be executed in counterparts, each
of which shall be deemed an original, but all of which shall constitute one and
the same instrument.

          Section
5.10. Entire Agreement. This Agreement constitutes the entire Agreement
between the parties regarding the subject matter hereof, and supersedes all
prior or contemporaneous negotiations, understandings or agreements of the
parties, whether written or oral, with respect to such subject matter.

8

          IN
WITNESS WHEREOF, the Company has caused this Agreement to be signed by its
respective duly authorized officer and the Executive has signed this Agreement
as of the day and year first above written.

	
 

	
 

	
 

	
 

	
 

	
EXECUTIVE

	
 

	
 

	
 

	
 

	
 

	
   

	
 

	

	
 

	
Lynn Courville 

	
 

	
 

	
 

	
COMPANY

	
 

	
 

	
 

	
Mobile Storage Group,
  Inc., 

	
 

	
a Delaware corporation

	
 

	
 

	
 

	
 

	
By:  

	

	
 

	
 

	

	
 

	
 

	
Name: 

	
Douglas A. Waugaman 

	
 

	
 

	
Title: President

9Exhibit
10.16 

AMENDED
AND RESTATED EMPLOYMENT AGREEMENT

          This
Employment Agreement (this “Agreement”) is entered into as of November 7, 2006
by and among Jerry E. Vaughn (“Executive”), Mobile Storage Group, Inc., a
Delaware corporation (“Company”), and MSG WC Holdings Corp. (“Holdings”), a
Delaware corporation.  

          WHEREAS,
Company is a wholly owned subsidiary of Mobile Services Group, Inc., a Delaware
corporation; 

          WHEREAS,
Company desires to retain Executive as Executive Vice President, Administration,
and Executive desires to be employed by Company in such a capacity for the term
and upon the other conditions hereinafter set forth; and 

          NOW,
THEREFORE, in consideration of the agreements and covenants contained herein,
Executive and Company hereby agree as follows:

ARTICLE
1

Employment

          Section
1.1 Position; Term; Condition Precedent; Responsibilities. Company and
Holdings shall employ Executive as its Executive Vice President, Administration
for a term commencing on November 7, 2006 (the “Commencement Date”) and
ending on the earlier of (i) December 31, 2008 (provided, however, that Company
and Executive may extend the term of the agreement to a later mutually agreed
upon date) or (ii) the date that the term of employment is terminated pursuant
to Article 3 (the “Termination Date”). The term of employment as
prescribed in this Section 1.1 is hereinafter called the “Emplovment
Period”. Subject to the powers, authorities and responsibilities vested in
the Board of Directors of Company (the “Board”) and in duly constituted
committees of the Board under the Delaware General Corporation Law and
Company’s Certificate of Incorporation and Bylaws, Executive shall have the
responsibilities assigned to him by the Board. Executive shall report directly
to Douglas A. Waugarnan, Company’s President and Chief Executive Officer (the “CEO”)
or his successor. Executive shall also perform such other executive and
administrative duties as Executive may reasonably be expected to be capable of
performing on behalf of Company and its subsidiaries, as may from time to time
be authorized or requested by the CEO. Executive agrees to be employed by
Company in all such capacities for the Employment Period, subject to all the
covenants and conditions hereinafter set forth.

          Section
1.2 Faithful Performance. During the Employment Period, Executive shall
perform faithfully the duties assigned to him hereunder to the best of his
abilities, Executive shall devote substantially all of his business time and
attention to the transaction of the business of Company and its subsidiaries
and shall not engage in any other business activities except with the approval
of the Board and the CEO. During the first six months of the Employment Period
or such earlier date as may reasonably be agreed to by the parties hereto,
Executive shall perform all duties assigned to him hereunder from Company’s
executive offices in Southern California. Following such six-month period or as
of such earlier date as mutually agreed upon by the

parties hereto, the parties expect
Executive’s duties to be performed from Company’s executive offices for
approximately three days per week. Executive covenants, warrants and represents
to Company that he shall: (i) devote his best efforts to the fulfillment of his
employment obligations; (ii) exercise the highest degree of loyalty and the
highest ethical standards of conduct in the performance of his duties; and
(iii) do nothing which Executive knows or should reasonably know will harm, in
any way, the business or reputation of Company or any of its subsidiaries.

          Section
1.3 Outside Board Participation. Nothing contained in this Agreement
shall prevent Executive from serving on any other companies’ Board of Directors
(“Outside Boards”); provided that such participation on Outside Boards does not
(i) prevent Executive from performing all responsibilities and duties required
hereunder and (ii) violate any restrictions contained herein under Article
4. 

ARTICLE
2

Compensation

          Section
2.1 Basic Compensation. As compensation for his services hereunder,
Company shall pay to Executive during the Employment Period an annual salary of
$275,000 (the “Base Salary”), payable in installments in accordance with
Company’s normal payment schedule for senior management of Company, subject to
payroll deductions as may be necessary or customary in respect of Company’s
salaried employees and five percent (5%) of which is paid in consideration for
Executive’s compliance with the restrictive covenants set forth in Article 4
hereof. Executive’s annual salary in effect from time to time under this Section
2.1 is hereinafter called his “Basic Compensation”. Such Basic
Compensation shall be determined on a pro rata basis for any period described in
Article 3 that is not equal to twelve (12) months. 

          Section
2.2 Discretionary Incentive Compensation. For the 2006 fiscal year,
Executive shall receive a bonus of $35,000 (the “FY 2006 Bonus”).
Beginning with the 2007 fiscal year, an additional discretionary bonus at a
targeted amount equal to 75% of Base Salary may be paid to Executive upon the
achievement of certain targeted financial results and operational and strategic
objectives as determined by the compensation committee of the Board (the “Compensation
Committee”) as part of each annual budget consistent with the discretionary
bonus plan for other Company senior management. Such targets and objectives
shall be established in Company’s annual budget process, and any discretionary
bonus payable hereunder shall be payable within 30 days after finalization of
Company’s audited financial statements for the fiscal year with respect to
which such targets or objectives relate, subject to final Compensation
Committee approval; provided, however, that the FY 2006 Bonus will be paid by
February 28, 2007. The Discretionary Bonus (as hereinafter defined) shall be
determined on a pro rata basis for any period described in Article 3
that is not equal to twelve months. Subject to the fiduciary duties of
Holdings’ Board under applicable law as advised by counsel and the execution by
Executive of a Non-Qualified Stock Option Agreement, the Board of Holdings
shall grant Executive options to acquire 750 shares of common stock at its next
regularly scheduled meeting pursuant to the MSG WC Holdings Corp. 2006 Stock
Option Plan. The initial grant of options to acquire 750 shares of common stock
shall have an exercise price of $1,255.59 per share.

2

          Section 2.3
Other Employee Benefits. Executive shall be entitled as of the
Commencement Date to participate in all employee benefit plans, including group
health care and disability plans of Company, to take up to four weeks of paid
time off for vacation and to receive all such fringe benefits (including 401(k)
savings plan) as are from time to time made generally available to the senior
management of Company. Company shall pay all costs of the participation of
Executive and Executive’s spouse in the group health care plan and dental plan
of Company through February 28, 2010, except for payment of co-payments and
deductibles, which shall be paid by Executive.

          Section
2.4 Expense Reimbursements. Company shall reimburse Executive for all
proper expenses reasonably incurred by him in the performance of his duties
hereunder in accordance with the policies and procedures established by the
Board, including, without limitation, (i) reasonable travel-related expenses
(including lodging) incurred by Executive during the Employment Period in
connection with travel between Executive’s designated office in South Lake,
Texas or such other location as designated by Executive and the executive
offices of Company in Southern California and (ii) reasonable temporary housing
expenses located within 20 miles of Company’s executive offices for the first
six months of the Employment Period.

ARTICLE
3

Termination of Employment

          Section
3.1 Events of Termination.

                    (a)
Termination for Cause, Breach of Article 4 or Voluntary Termination. In
the event during the Employment Period there should occur any of the following:
(i) “Cause” (as hereinafter defined) of Executive, (ii) the breach by Executive
of Article 4 (as determined by the Board) or (iii) Executive chooses to
terminate his employment with Company, the Board or Executive, as applicable,
may elect to terminate Executive’s employment by written notice to the other
party.  

                    In
the event the Board or Executive exercises its election to terminate
Executive’s employment with Company pursuant to this Section 3.1(a),
the Employment Period shall terminate effective with such notice, and Executive
shall be entitled to receive: (1) any accrued but unpaid amounts under Section
2.1 (“Accrued Salary”), (2) a pro rata portion, based on the
number of days worked in the year in which Executive’s employment is
terminated, of the discretionary bonus, as contemplated by Section 2.2
(the “Discretionary Bonus”), for the year in which Executive’s
employment is terminated based upon Company’s actual performance relative to
the specified performance objectives established by the Compensation Committee
for the fiscal year during which the termination of Executive’s employment
occurs, such determination as to whether the specified performance objectives
have been satisfied will be (x) made by the Board (excluding Executive if
Executive is a member of the Board as of the Termination Date), (y) based upon
Executive’s achievement of the specified performance objectives for the
relevant fiscal year and (z) to the extent appropriate, based upon Company’s
audited financial statements for the relevant fiscal year (the “Prorated
Annual Bonus”) and (3) any incurred but unreimbursed expenses under Section
2.4, in each case through the Termination Date less standard withholdings
for tax and social security purposes (and except as otherwise provided). To the

3

extent any Prorated Annual Bonus is
payable under this Agreement, such amount will be paid at the same time as the
Discretionary Bonus would have been paid had Executive’s employment not been
terminated. Amounts due and payable to Executive under this Agreement following
Executive’s termination of the nature described in clauses (1) - (3) above
shall be paid in accordance with Company’s payroll procedures for senior
management as if Executive’s employment had continued for such period.

                    (b)
Termination for Disability, Without Cause. or for Good Reason. In the
event during the Employment Period there should occur either: (i) a “Disability”
(as hereinafter defined) of Executive or (ii) Good Reason (as hereinafter
defined), or the Board shall determine to terminate Executive without Cause,
the Board or the Executive, as applicable, may elect to terminate Executive’s
employment by written notice to the other party. For the avoidance of doubt,
termination of this Agreement on or after December 31, 2008 as contemplated by Section
l.l(i) (or a later date as agreed to by the parties as contemplated
therein) will not qualify as a termination event under this Section 3.l(b),
and such termination will not entitle Executive to any rights or benefits
provided for under this Section 3.1(b).

                    In
the event the Board or Executive exercises its election to terminate
Executive’s employment with Company pursuant to this Section 3.l(b), the
Employment Period shall terminate effective with such notice, and Executive
shall be entitled to: (1) receive any Accrued Salary, (2) receive the Prorated
Annual Bonus, if any, (3) receive any incurred but unreimbursed expenses under Section
2.4, (4) participate in Company paid or reimbursed insurance benefits
described in Section 2.3 for a period ending on February 28, 2010,
including but not limited to such benefits as may be required to be provided by
Company under the Comprehensive Omnibus Budget Reconciliation Act (“COBRA”);
provided, however, that Executive’s right to
participate in insurance benefits shall terminate in the event Executive
obtains new employment and has the ability to obtain comparable insurance
benefits through such new employment (“Continuing Benefits”) and (5)
participate at Company’s expense in such benefits as may be required to be
provided by Company under COBRA for a period commencing on the earlier of (i)
the 18-month anniversary of the Termination Date or (ii) February 28, 2010 and
ending 18 months thereafter (“COBRA Benefits”).

                    
(c) Termination for Death. In the event of the death of Executive during
the Employment Period, this Agreement shall be deemed immediately terminated
and his Designated Successors shall be entitled to: (1) receive any Accrued
Salary, (2) receive the Prorated Annual Bonus, if any, (3) receive any incurred
but unreimbursed expenses under Section 2.4, (4) receive Continuing
Benefits; provided, that only Executive’s spouse who was
participating in any of the insurance benefits described in Section 2.3
on the Termination Date shall continue to participate in such insurance
benefits (the “Eligible Family Members”), and (5) participate at Company’s
expense in COBRA Benefits.

                    (d)
Termination in 2008 Following Sale of Holdings. In the event that (i)
the employment of Executive is terminated by the Board between January 1,2008
and December 31, 2008 and (ii) the termination of the employment of Executive
described in Section 3.2(e)(i) follows the consummation of the “Sale
of Holdings” (as hereinafter defined), Company shall pay Executive the Basic
Compensation, as determined pursuant to Section 2.1, payable in monthly
installments until December 31, 2008. The “Sale of Holdings” shall
mean the sale of Holdings

4

between January 1, 2008 and
December 31, 2008, including in one transaction or a series of related
transactions, to an Independent Third Party or group of Independent Third
Parties pursuant to which such party or parties acquire (I) Equity Securities
of Holdings representing more than 50% of the voting power of all outstanding
voting equity interests (whether by way of merger or consolidation or
otherwise), together with the loss by WCAS X and its Affiliates, collectively,
to elect a majority of the board of directors of Holdings, or (2) all or
substantially all of the assets of Holdings and its Subsidiaries determined on
a consolidated basis. The consummation of an Initial Public Offering shall not
constitute a Sale of Holdings pursuant to this Section 3.2(e). “Independent
Third Party,” Equity Securities,” “WCAS X,” “Affiliates,” “Subsidiaries,”
and “Initial Public Offering” shall have the meanings assigned to such terms in
that certain MSG WC Holdings Corp. Stockholders Agreement dated August 1, 2006.  

          Section
3.2 Definitions of Certain Terms.

                    
(a) “Cause” used in connection with the termination of employment of
Executive shall mean a termination due to a finding by the Board in good faith
that such Executive has (i) committed a felony or a crime involving moral
turpitude, (ii) committed any other material act or omission involving
dishonesty or fraud (A) with respect to Company or its subsidiaries or (B)
materially adversely affecting the reputation or standing of Company or its
subsidiaries, (iii) engaged in material acts constituting gross negligence or
willful misconduct with respect to Company or its subsidiaries or (iv)
materially or repeatedly breached a material Company policy established by the
Board that is generally applicable to all employees of Company. Executive shall
be given written notice that Company intends to terminate employment for Cause
after which he shall have (x) 30 days to cure, if curable, the acts or
omissions that serve as the basis for termination of employment and (y) the
right to appear before the Board (with counsel if he so chooses) within such 30
day period in order to appeal the Board’s determination that Executive shall be
terminated for Cause.

                    
(b) “Designated Successors” shall mean such person or persons or the
executors, administrators or other legal representatives of such person or
persons (and in such order of priority) as Executive may have designated in a
written instrument filed with the Secretary of Company.

                    
(c) “Disability” shall mean (i) the inability of Executive to
substantially render to Company the services required by Company under this
Agreement for more than 60 days out of any consecutive 120-day period because
of mental or physical illness or incapacity, as determined by a physician,
mutually agreed upon by Executive (or Executive’s legal guardian or custodian,
if applicable) and Company (a “Physician”), (ii) Executive being
“totally disabled” or “permanently disabled7’ (or has a comparable condition,
if applicable) as such terms are defined in Company’s long term disability
insurance policy in effect at the time of such determination or (iii) Executive’s
development of any illness that is likely to result in either death or a
condition described in clause (ii) above, as determined by a Physician. The
date of such Disability shall be on the last day of such 90-day period.

                    
(d) “Good Reason” used in connection with the termination of employment
by Executive shall mean a termination within 45 days following the date of, as
applicable, (A) any

5

of the following events or (B) the
end of any cure period referenced below with respect to any of the following
events:

                              (i)
the assignment to Executive of any material duties that are materially
inconsistent with Executive’s title and position, authority, duties or
responsibilities as contemplated by Section 1.1 of this Agreement, or
any other action by Company which directly results in a material diminution in
such position, authority, duties or responsibilities, excluding for this
purpose any isolated, insubstantial and inadvertent action not taken in bad
faith and where such diminution, if curable, is not cured within 30 days after
written notice thereof is provided by Executive;

                              (ii)
a reduction in Executive’s Basic Compensation (provided, that an “across
the board” reduction in Basic Compensation and/or bonus opportunities affecting
all senior executive employees of Company on a substantially similar basis
shall not constitute “Good Reason”) or opportunity to receive the Discretionary
Bonus, which reduction is not related to any failure by Executive to satisfy
certain targeted financial results and operational and strategic objectives as
established by the Board and where such failure, if curable, is not cured
within 30 days after written notice thereof is provided by Executive; or

                              (iii)
a material breach by Company of its obligations under this Agreement and where
such breach, if curable, is not cured within 30 days after written notice
thereof is provided by Executive.

          Section
3.3 409A Considerations. Executive and Company agree to use commercially
reasonable efforts to cooperate, including by restructuring the timing of
payments under this Agreement, to avoid the imposition of any additional tax,
penalty or interest charge under Section 409A in respect of payments to
Executive under this Agreement.

ARTICLE
4

Non-Competition; Confidential Information

          Section
4.1 Non-Competition.

                    (a)
From the date hereof until the date that is 18 months after the Termination
Date (the “Non-Competition Period”), Executive:

                              (i)
shall not engage, directly or indirectly, in any activities whether as
employer, proprietor, partner, shareholder (other than the holder of less than
5% of the stock of a corporation, the securities of which are traded on a
national securities exchange or in the over-the-counter market), director,
officer, employee or otherwise, with any entity or person engaged, in
competition with Company Business (as defined below) within the United States,
the United Kingdom, Canada and any other country in which Company operates;

                              (ii)
shall not solicit, directly or indirectly, any person who is a customer or
supplier of Company, any of its affiliates or Holdings, MSG WC Acquisition
Corp., Welsh, Carson, Anderson & Stowe X, L.P. (“WCAS X”) or WCAS
Capital Partners IV, L.P. (together with WCAS X, “WCAS”) for the purpose
of acquiring, marketing, leasing, renting or

6

selling mobile or fixed storage
containers, storage trailers, cartage trailers or modular offices (the “Company
Business”); and

                              
(iii) shall not induce or actively attempt to persuade any employee of Company,
any of its affiliates or WCAS to terminate his employment relationship in order
to enter into any competitive employment.

                    (b)
Except as required by law, Executive shall not, at any time during the
Employment Period, the Non-Competition Period or thereafter, make use of any
confidential information of Company, WCAS or any of their respective
affiliates, nor divulge any trade secrets or proprietary or confidential
information of Company, WCAS or any of their respective affiliates (including,
without limitation, information relating to customers, suppliers, contracts,
business plans and developments, discoveries, processes, products, systems,
know-how, books and records), except to the extent that such information
becomes a matter of public record (other than as a result of disclosure by Executive),
is published in a newspaper, magazine or other periodical available to the
general public or as WCAS may so authorize in writing; provided, however,
during the Employment Period Executive shall be permitted to make use of
confidential information in the execution of his duties under this Agreement.
When Executive shall cease to be employed by Company, Executive shall surrender
to Company or WCAS all records and other documents obtained by him or entrusted
to him during the course of his employment hereunder (together with all copies
thereof) which pertain to the business of Company or WCAS or which were paid
for by Company other than Executive’s counterparts of this Agreement and
employment-related documents referred to herein.  

                    (c)
The covenants contained in clauses (i), (ii) and (iii) of Section 4.l(a)
shall apply within all territories in which Company is actively engaged in the
conduct of business during the Non-Competition Period.

                    (d)
It is the desire and intent of the parties that the provisions of Sections
4.l(a) and 4.l(b) shall be enforced to the fullest extent
permissible under the law and public policies applied in each jurisdiction in
which enforcement is sought. Accordingly, if any particular provision of Sections
4.l(a) or 4.l(b) shall be adjudicated to be invalid or
unenforceable, such provision shall be deemed amended to delete therefrom the
portion thus adjudicated to be invalid or unenforceable, such deletion to apply
only with respect to the operation of such provision in the particular
jurisdiction in which such adjudication is made. In addition, should any court
determine that the provisions of Sections 4.l(a) or 4.l(b) shall
be unenforceable with respect to scope, duration or geographic area, such court
shall be empowered to substitute, to the extent enforceable, provisions similar
hereto or other provisions so as to provide to Company and WCAS, to the fullest
extent permitted by applicable law, the benefits intended by Sections 4.l(a)
and 4.1(b).

                    (e)
The covenants contained in Section 4.l(b) shall survive the conclusion of
Executive’s employment by Company and/or his service as an officer of Company. 

                    (f)
If, at any time, Executive sells or transfers any securities of Company to
Company or to any then-current shareholder of Company (a “Repurchase”),
such Repurchase

7

shall serve as additional
consideration for Executive’s compliance with the restrictions during the
Non-Competition Period provided for under this Section 4.1;

                    (g)
In the event Executive violates any provision of this Agreement, the running of
the time period of such provisions so violated shall be automatically suspended
upon the date of such violation and shall resume on the date such violation
ceases and all appeals, if any, are resolved.

                    (h)
Executive acknowledges and agrees that the covenants, obligations and
agreements of Executive contained herein relate to special, unique and
extraordinary matters and that a violation of any of the terms of such
covenants, obligations or agreements shall cause Company and its successors
irreparable injury for which adequate remedies are not available at law. In the
event of a breach or threatened breach by Executive of any provision of this Section
4.1, Company and its successors, without proving actual damages shall be
entitled to seek an injunction (without the requirement to post bond)
restraining Executive from (a) soliciting or interfering with employees, consultants,
independent contractors, customers or suppliers of Company, its affiliates or
their respective successors, (b) disclosing, in whole or in part, the private,
secret and confidential information described herein, or from rendering any
services to any person, firm, corporation, association or other entity to whom
such information has been disclosed, or is threatened to be disclosed, (c)
engaging, participating or otherwise being connected with any arrangement in
competition with Company’s business of leasing and selling storage containers,
storage trailers, cartage trailers and mobile offices or (d) otherwise
violating the provisions of this Section 4.1. Nothing herein contained
shall be construed as prohibiting Company or its successors from pursuing any
other remedies available to it or them for such breach or threatened breach,
including without limitation the recovery of damages from Executive.

                    (i)
Executive acknowledges and agrees that (i) he has and will have a prominent role
in the management, and the development of the goodwill, of Company and its
affiliates and has and will establish and develop relations and contacts with
the principal customers and suppliers of Company and its affiliates in the
United States and the rest of the world, if any, all of which constitute
valuable goodwill of, and could be used by Executive to compete unfairly with,
Company and its affiliates, (ii) Executive has obtained confidential and
proprietary information and trade secrets concerning the business and
operations of Company and its affiliates in the United States and the rest of
the world that could be used to compete unfairly with Company and its
affiliates, (iii) the covenants and restrictions contained herein are intended
to protect the legitimate interests of Company and its affiliates in their
respective goodwill, trade secrets and other confidential and proprietary
information and (iv) Executive desires to be bound by such covenants and
restrictions.

                    (j)
Executive represents that his economic means and circumstances are such that
the provisions of this Agreement, including the restrictive covenants herein,
will not prevent him from providing for himself and his family on a basis
satisfactory to him and them.

                    (k)
If Executive raises any question as to the enforceability of any part or terms
of this Agreement, including, without limitation, the restrictive covenants
contained herein,

8

Executive agrees that he will
comply fully with this Agreement unless and until the entry of an award to the
contrary.

ARTICLE
5

Miscellaneous

          Section
5.1 Notices. Any notice or request required or permitted to be given
hereunder shall be sufficient if in writing and delivered personally or sent by
registered or certified mail, return receipt requested, as follows: if to
Executive, to his address as set forth in the records of Company, and if to
Company, to Company’s address hereinabove set forth, or to any other address
designated by either party by notice similarly given. Such notice shall be
deemed to have been given upon the personal delivery or such mailing thereof,
as the case may be.

          Section
5.2 Survival. Sections 3.1 and 4.1 and Article 5 of this
Agreement shall survive and continue in full force in accordance with their
respective terms notwithstanding the expiration or termination of the
Employment Period.  

          Section
5.3 Authority; No Conflict. Executive represents and warrants to Company
that he has full right and authority to execute and deliver this Agreement and
to comply with the terms and provisions hereof and that the execution and
delivery of this Agreement and compliance with the terms and provisions hereof
by Executive will not conflict with or result in a breach of the terms,
conditions or provisions of any agreement, restriction or obligation by which
Executive is bound.

          Section
5.4 Assignment and Succession. The rights and obligations of Company
under this Agreement shall inure to the benefit of and be binding upon its
respective successors and assigns, and Executive’s rights and obligations
hereunder shall inure to the benefit of and be binding upon his Designated
Successors. Executive may not assign any obligations or responsibilities he has
under this Agreement.

          Section
5.5 Headings. The Article, Section, paragraph and subparagraph headings
are for convenience of reference only and shall not define or limit the
provisions hereof.

          Section
5.6 Tax Withholding. Company may withhold from any amounts payable under
this Agreement all Federal, state, city or other taxes as may be required
pursuant to any law, regulation or ruling.

          Section
5.7 Applicable Law. This Agreement shall at all times be governed by and
construed, interpreted and enforced in accordance with the internal laws (as
opposed to conflict or choice of laws provisions) of the State of Texas. Each
party hereto irrevocably submits to the exclusive jurisdiction of any state or
Federal court located within the State of Texas for the purposes of any suit,
action or other proceeding arising out of this Agreement or any transaction
contemplated hereby, and agrees to commence any such action, suit or proceeding
only in such courts. Each party further agrees that service of any process,
summons, notice or document by U.S. registered mail to such party’s respective
address set forth herein shall be effective service of process for any such
action, suit or proceeding. Each party irrevocably and unconditionally waives
any objection to the laying of venue of any action, suit or proceeding arising
out of this

9

Agreement or the transactions
contemplated hereby in such courts, and hereby irrevocably and unconditionally
waives and agrees not to plead or claim in any such court that any such action,
suit or proceeding brought in any such court has been brought in an
inconvenient forum.

          Section
5.8 Waiver. No waiver of any right or remedy of either party hereto
under this Agreement shall be effective unless in writing, specifying such
waiver, executed by such party. A waiver by either party hereto of any of its
rights or remedies under this Agreement on any occasion shall not be a bar to
the exercise of the same right or remedy on any subsequent occasion or of any
other right or remedy at any time.

          Section
5.9 Amendment or Modification. This Agreement may be amended, altered,
or modified only by writing, specifying such amendment, alteration or
modification, executed by all of the parties.

          Section
5.10 Counterparts. This Agreement may be executed in counterparts, each
of which shall be deemed an original, but all of which shall constitute the
same instrument.

          Section
5.11 Entire Agreement. This Agreement constitutes the entire Agreement
between the parties regarding the subject matter hereof, and supersedes all
prior or contemporaneous negotiations, understandings or agreements of the
parties, whether written or oral, with respect to such subject matter.

10

          IN
WITNESS WHEREOF, Company has caused this Agreement to be signed by its
respective duly authorized officer and Executive has signed this Agreement as
of the day and year first above written.

EXECUTIVE

	
 

	
 

	
 

	
 

	

	
 

	

	
 

	
Jerry E. Vaughn

	
 

	
 

	
 

	
COMPANY

	
 

	
 

	
 

	
MOBILE STORAGE GROUP, INC.

	
 

	
 

	
 

	
By:

	

	
 

	
 

	

	
 

	
 

	
Name: Douglas A. Waugaman

	
 

	
 

	
Title: President and Chief Executive Officer

	
 

	
 

	
 

	
HOLDINGS

	
 

	
 

	
 

	
MSG WC HOLDINGS CORP.

	
 

	
 

	
 

	
By:

	

	
 

	
 

	

	
 

	
 

	
Name: Sanjay Swani

	
 

	
 

	
Title: Vice President

Signature Page to Vaughn Employment Agreement

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