Document:

EX-4.D

 

Exhibit 4(d)

CERTIFICATE

     We, attorneys-at-law, do hereby certify that attached hereto are true and correct English
translations of the following law, order and excerpts from law and that these law, order and
excerpts are in full force and effect as of the date hereof:

	 	(a)  	Japan Finance Corporation for Municipal Enterprises Law (Law No. 83 of April 27,
1957);
	 
	 	(b)  	Cabinet Order for Japan Finance Corporation for Municipal Enterprises Law
(Cabinet Order No.79 of April 27, 1957); and
	 
	 	(c)  	Excerpts from Law Concerning Special Measures with Respect to Acceptance of
Foreign Capital from International Bank for Reconstruction and Development, etc. (Law
No.51 of July 4, 1953) (Art.2, par.2 and par.3 of Art.3, par.1 of Art.5 and par.2 of
Supplementary Provisions).

     IN WITNESS WHEREOF, we have hereunto set our hand this 17th day of February, 2005.

NAGASHIMA OHNO & TSUNEMATSU

/s/ Nagashima Ohno & TsunematsuExhibit 10.01

                            CROSSROADS SYSTEMS, INC.

                              CONSULTING AGREEMENT

     This Consulting Agreement  ("Agreement") is made and entered into as of the
15th  day of  February,  2005 by and.  between  Crossroads  Systems,  Inc.  (the
"Company"), and Valerie H. Savage ("Consultant").  The Company desires to retain
Consultant as an. independent  contractor to perform consulting services for the
Company and Consultant is willing to perform such  services,  on terms set forth
more fully below. In consideration of the mutual promises  contained herein, the
parties agree as follows:

     1. SERVICES AND COMPENSATION

     (a) Consultant agrees to perform for the Company the services  ("Services")
described in Exhibit A, attached hereto.

     (b) The Company  agrees to pay  Consultant  the  compensation  set forth in
Exhibit A for the performance of the Services.

     2. CONFIDENTIALITY

     (a) Definition.  "Confidential  Information" means any Company  proprietary
information,  technical  data,  trade  secrets or know-how,  including,  but not
limited to, research,  product plans, products,  services,  customers,  customer
lists,  markets,  software,  developments,   inventions,   processes,  formulas,
technology, designs, drawings, engineering,  hardware configuration information,
marketing,  finances  or other  business  information  disclosed  by the Company
either directly or indirectly in writing, orally or by drawings or inspection of
parts or equipment.

     (b) Non-Use and  Non-Disclosure.  Consultant will not, during or subsequent
to the term of this Agreement,  use the Company's  Confidential  Information for
any purpose  whatsoever  other than the performance of the Services on behalf of
the Company or disclose  the  Company's  Confidential  Information  to any third
party. It is understood that said Confidential Information shall remain the sole
property  of the  Company.  Consultant  further  agrees  to take all  reasonable
precautions  to  prevent  any  unauthorized   disclosure  of  such  Confidential
Information  including,  but not limited to, having each employee of Consultant,
if any, with access to any  Confidential  Information,  execute a  nondisclosure
agreement containing  provisions in the Company's favor identical to Sections 2,
3 and 4 of this Agreement. Confidential Information does not include information
which is known to  Consultant  at the time of  disclosure  to  Consultant by the
Company as evidenced by written records of Consultant, has become publicly known
and made generally available through no wrongful act of Consultant,  or has been
rightfully  received by Consultant  from a third party who is authorized to make
such disclosure.  Without the Company's prior written approval,  Consultant will
not directly or indirectly disclose to anyone the existence of this Agreement or
the fact that Consultant has this arrangement with the Company.

<PAGE>

     (c) Former  Employer's  Confidential  Information.  Consultant  agrees that
Consultant  will  not,  during  the term of this  Agreement,  improperly  use or
disclose any  proprietary  information or trade secrets of any former or current
employer or other  person or entity with which  Consultant  has an  agreement or
duty to keep in confidence information acquired by Consultant,  if any, and that
Consultant  will not bring onto the  premises  of the  Company  any  unpublished
document or proprietary information belonging to such employer, person or entity
unless  consented to in writing by such employer,  person or entity.  Consultant
will  indemnify  the Company  and hold it harmless  from and against all claims,
liabilities,  damages and expenses,  including  reasonable  attorneys'  fees and
costs of suit,  arising out of or in  connection  with any  violation or claimed
violation  pf a third  party's  rights  resulting  in whole or in part  from the
Company's use of the work product of Consultant under this Agreement.

     (d) Third party Confidential  Information.  Consultant  recognizes that the
Company has received and in the future will  receive  from third  parties  their
confidential or proprietary  information subject to a duty on the Company's part
to  maintain  the  confidentiality  of such  information  and to use it only for
certain limited purposes. Consultant agrees that Consultant owes the Company and
such third parties, during the term of this Agreement and thereafter,  a duty to
hold  all  such  confidential  or  proprietary   information  in  the  strictest
confidence  and not to disclose it to any person,  firm or corporation or to use
it except as necessary  in carrying out the Services for the Company  consistent
with the Company's agreement with such third party.

     (e) Return of Materials.  Upon the termination of this  Agreement,  or upon
Company's  earlier  request,  Consultant  will deliver to the Company all of the
Company's  property or  Confidential  Information  that  Consultant  may have in
Consultant's possession or control.

     3. OWNERSHIP

     (a) Assignment.  Consultant agrees that all copyrightable material,  notes,
records, drawings, designs, inventions, improvements,  developments, discoveries
and trade secrets (collectively,  "Inventions") conceived, made or discovered by
Consultant,  solely or in collaboration  with others,  during the period of this
Agreement  which  relate  in any  manner to the  business  of the  Company  that
Consultant  may be directed to undertake,  investigate  or  experiment  with, or
which  Consultant  may  become   associated  with  in  work,   investigation  or
experimentation  in the line of business of Company in  performing  the Services
hereunder,  are the sole property of the Company.  Consultant  further agrees to
assign (or cause to be assigned) and does hereby assign fully to the Company all
Inventions and any copyrights,  patents,  mask work rights or other intellectual
property rights  relating  thereto.  Consultant  further  acknowledges  that all
Inventions which constitute original works of authorship (solely or jointly with
others)  within  the scope of and  during  the term  hereof  which  qualify  for
protection by copyright are "works made for hire" as that term is defined in the
United States Copyright Act.

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<PAGE>

     (b)  Further  Assurances.  Consultant  agrees  to  assist  Company,  or its
designee,  at the Company's expense, in every proper way to secure the Company's
rights in the Inventions and any copyrights,  patents, mask work rights or other
intellectual  property  rights  relating  thereto  in  any  and  all  countries,
including the  disclosure to the Company of all pertinent  information  and data
with respect thereto, the execution of all applications,  specifications, oaths,
assignments and all other  instruments which the Company shall deem necessary in
order to apply for and obtain  such  rights and in order to assign and convey to
the Company, its successors,  assigns and nominees the sole and exclusive right,
title and interest in and to such Inventions, and any copyrights,  patents, mask
work rights or other intellectual  property rights relating thereto.  Consultant
further agrees that Consultant's  obligation to execute or cause to be executed,
when it is in  Consultant's  power to do so, any such instrument or papers shall
continue after the termination of this Agreement.

     (c)  Pre-Existing  Materials.  Consultant  agrees  that if in the course of
performing the Services,  Consultant  incorporates into any Invention  developed
hereunder any invention,  improvement,  development, concept, discovery or other
proprietary  information  owned  by  Consultant  or in which  Consultant  has an
interest,  (i) Consultant shall inform Company, in writing before  incorporating
such  invention,   improvement,   development,   concept,   discovery  or  other
proprietary  information  into any  Invention;  and (ii) the  Company  is hereby
granted and shall have a  nonexclusive,  royalty-free,  perpetual,  irrevocable,
worldwide license to make, have made,  modify, use and sell such item as part of
or in connection  with such  Invention.  Consultant  shall not  incorporate  any
invention,  improvement,  development,  concept,  discovery or other proprietary
information  owned by any third party into any Invention without Company's prior
written permission.

     (d)  Attorney  in Fact.  Consultant  agrees  that if the  Company is unable
because  of  Consultant's  unavailability,   dissolution,   mental  or  physical
incapacity,  or for any other reason, to secure Consultant's  signature to apply
for or to pursue any  application  for any United  States or foreign  patents or
mask work or copyright  registrations  covering the  Inventions  assigned to the
Company above,  then Consultant hereby  irrevocably  designates and appoints the
Company and its duly authorized  officers and agents as  Consultant's  agent and
attorney in fact, to act for and in Consultant's behalf and stead to execute and
file  any such  applications  and to do all  other  lawfully  permitted  acts to
further  the  prosecution  and  issuance  of  patents,  copyright  and mask work
registrations  thereon  with the same legal  force and effect as if  executed by
Consultant.

     4. CONFLICTING OBLIGATIONS

     Consultant  certifies  that  Consultant  has no  outstanding  agreement  or
obligation that is in conflict with any of the provisions of this Agreement,  or
that would preclude  Consultant from complying with the provisions  hereof,  and
further  certifies  that  Consultant  will not enter  into any such  conflicting
agreement during the term of this Agreement.

                                       3
<PAGE>

     5. TERM AND TERMINATION

     (a) Term.  This  Agreement  will  commence  on  February  15, 2005 and will
continue  until the  earlier of (i) final  completion  of the  Services  or (ii)
termination as provided below.

     (b)  Termination.  The Company may terminate this Agreement upon giving two
weeks prior  written  notice  thereof to  Consultant.  Any such notice  shall be
addressed  to  Consultant  at the address  shown below or such other  address as
either party may notify the other of and shall be deemed given upon  delivery if
personally  delivered,  or forty-eight  (48) hours after deposited in the United
States mail,  postage  prepaid,  registered or certified  mail,  return  receipt
requested.  The Company may terminate  this  Agreement  immediately  and without
prior notice if Consultant refuses to or is unable to perform the Services or is
in breach of any material provision of this Agreement or if the Company provides
payment for 20 hours of work, the  compensation  Consultant would have been paid
had she worked during the two week period.

     (c) Survival.  Upon such  termination  all rights and duties of the parties
toward each other shall cease except:

          (i) that the Company shall be obliged to pay,  within thirty (30) days
of the  effective  date of  termination,  all amounts  owing to  Consultant  for
Services completed and accepted by the Company prior to the termination date and
related  expenses,  if any,  in  accordance  with the  provisions  of  Section 1
(Services and Compensation) hereof; and

          (ii) Sections 2  (Confidentiality),  3 (Ownership)  and 7 (Independent
Contractors) shall survive termination of this Agreement.

     6. ASSIGNMENT

     Neither this  Agreement nor any right  hereunder or interest  herein may be
assigned or transferred by Consultant without the express written consent of the
Company.

     7. INDEPENDENT CONTRACTOR

     It  is  the  express  intention  of  the  parties  that  Consultant  is  an
independent contractor.  Nothing in this Agreement shall in any way be construed
to constitute Consultant as an agent, employee or representative of the Company,
but  Consultant   shall  perform  the  Services   hereunder  as  an  independent
contractor.  Consultant  agrees to furnish (or  reimburse  the Company  for) all
tools and materials  necessary to accomplish this contract,  and shall incur all
expenses associated with performance,  except as expressly provided on Exhibit A
of this  Agreement.  Consultant  acknowledges  and  agrees  that  Consultant  is
obligated to report as income all compensation  received by Consultant  pursuant
to this Agreement,  and Consultant  agrees to and acknowledges the obligation to
pay all  self-employment  and other taxes thereon.  Consultant further agrees to
indemnify  and hold  harmless  the  Company  and its  directors,  officers,  and
employees from and against all taxes, losses,  damages,  liabilities,  costs and
expenses,  including attorneys' fees and other legal expenses,  arising directly
or indirectly from (i) any negligent,  reckless or intentionally wrongful act of
Consultant or Consultant's assistants, employees or agents, (ii) a determination
by a court or agency that the  Consultant is not an independent  contractor,  or
(iii) any breach by the  Consultant  or  Consultant's  assistants,  employees or
agents of any of the covenants contained in this Agreement.

                                       4
<PAGE>

     8. BENEFITS

     Consultant  acknowledges  and agrees  and it is the  intent of the  parties
hereto that Consultant  receive no  Company-sponsored  benefits from the Company
either as a Consultant or employee.  Such benefits include,  but are not limited
to, paid vacation, sick leave, medical insurance,  and 401(k) participation.  If
Consultant is reclassified by a state or federal agency or court as an employee,
Consultant  will become a  reclassified  employee  and will  receive no benefits
except  those  mandated  by state or  federal  law,  even if by the terms of the
Company's  benefit  plans  in  effect  at  the  time  of  such  reclassification
Consultant would otherwise be eligible for such benefits.

     9. OTHER AGREEMENTS AND POLICIES

     Prior to performing any Services  hereunder,  Consultant  shall execute the
Company's  form of  Indemnification  Agreement  for its officers and  directors.
Prior to performing any Services hereunder, Consultant shall review and agree to
comply with the Company's Policy Against Insider Trading.

     10. GOVERNING LAW

     This Agreement shall be governed by the internal  substantive laws, but not
the choice of law rules, of the State of Texas.

     11. ENTIRE AGREEMENT

     This  Agreement is the entire  agreement of the parties and  supersedes any
prior  agreements  between them,  whether  written or oral,  with respect to the
subject matter hereof.  No waiver,  alteration,  or  modification  of any of the
provisions of this  Agreement  shall be binding  unless in writing and signed by
duly authorized representatives of the parties hereto.

     12. ATTORNEYS' FEES

     In any court action at law or equity which is brought by one of the parties
to enforce or interpret the provisions of this Agreement,  the prevailing  party
will be entitled to reasonable  attorneys' fees, in addition to any other relief
to which that party may be entitled.

     13. SEVERABILITY

     The invalidity or unenforceability  of any provision of this Agreement,  or
any terms  thereof,  shall not affect the validity of this Agreement as a whole,
which shall at all times remain in full force and effect.

                            [Signature Page Follows]

                                       5

<PAGE>

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

CROSSROADS SYSTEMS, INC.                 VALERIE H. SAVAGE

By:                                      By:
     --------------------------             -------------------------
     Print Name:                            Print Name:
               ----------------                        --------------
     Title:                                 Title:
               ----------------                        --------------
     Address:                               Address:
               ----------------                        --------------

<PAGE>

                                    EXHIBIT A

                            SERVICES AND COMPENSATION

1.   Contact: Consultant's principal Company contact:

                  Name:  Rob Sims

                  Title:   Chief Executive Officer

2.   Services.  Consultant  will render to the Company the  following  Services:
     Overseeing the financial function of the Company, including financial plans
     and  policies,  accounting  practices  and  procedures,  and the  Company's
     relationship with the financial community, as well as other activities that
     the Company may prescribe. Services must be provided during direct meetings
     with the  Company's  employees  (telephonic  or  face-to-face),  except for
     authorized  offsite  work  requested  by the  Company  and  accepted by the
     Consultant and accompanied by a specified time estimate.

3.   Compensation.

     (a)  The Company shall pay Consultant $ 150 per hour.

     (b)  Only if  pre-approved  by the  Company in writing,  the Company  shall
          reimburse  Consultant for all reasonable  travel expenses for which an
          invoice  is  submitted   and  which  are  incurred  by  Consultant  in
          performing Services pursuant to this Agreement.

     (c)  Consultant  shall submit all statements for services and expenses in a
          form  prescribed  by the  Company  every two weeks and such  statement
          shall  be  approved  by the  contact  person  listed  above  or  other
          designated agent of the Company.

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