FINANCIAL INFORMATION

EX-10.76 4 a92587exv10w76.txt EXHIBIT 10.76 EXHIBIT 10.76 26th June 2003 From: Xyratex Technology Limited ("Xyratex") To: MTI Technology Corporation ("MTI") Subject: Memorandum of understanding. (MOU) Further to our discussions we would like to confirm the terms of our intended agreement, It is the intent of both parties to complete the following agreements. a) Facilities rental agreement This would have the following basic terms. 1) Provision of 6,000 sqft of continuous space within MTI's Westmont facility, this space has been approximately identified on drawings but currently contains the MTI Systems Test facility, plus office space, and shared support facilities including dual use of, front door access, toilets, break rooms etc. 2) Provision of office clerk support to allow for basic office duties telephone answering etc, within normal work hours. 3) Provision of a share of the current PBX with specific Xyratex telephone direct dial numbers, to support the number of work stations within the space provided. 4) Provision of all normal and reasonable, cleaning, janitorial and office waste disposal required for the occupied space. 5) 50/50 split of all energy, electrical, gas and water, required for normal operation of the space for its intended purpose of a system test lab and general office. Telephone call charges would be charged in addition to the space charge through provision of an itemised bill. 6) Provision of adequate parking spaces for the number of work stations within the space. 7) All repair and maintenance costs for the space, including but not limited to air conditioning, network infrastructure, telephone lines shall be paid by MTL. 8) No additional charges will be incurred by Xyratex for the use and occupation of the space. 9) Provision of tenant improvements on the basis of a 50%/50% split of cost between Xyratex and MTI up to a maximum of $10k cost to MTI. As a minimum, Tenant improvements will include provision of secured badge locked doors to The area and Xyratex signage. 10) MTI will retain a single master access to the Xyratex lab space for maintenance of the MTI Office System Server. Currently identified as Larry Reed. 11) Provisions of appropriate MTI documentation to prove insurance policies and other legal requirements to support the rental of the space. 12) Xyratex will have no responsibilities for any space or building dilapidation costs. 13) Provision of evidence to demonstrate that the proportional CAM charge for the space is approx $2,500 per month. 14) MTI will provide 90 days notice to terminate the rental agreement. 15) Xyratex will provide 30 days notice to terminate He rental agreement, though this termination may not be given within five months of the date of agreement. 16) Xyratex may occupy the space from the 7th July 2003 onwards, in line with the target signature date of the rental agreement. 17) The total price for the above will be approx $6,500 per month payable 30 days in advance. 18) MTI will prepare a rental agreement with the above conditions and both parties intend to complete this agreement within 5 days of signature. b) Capital Asset ("assets") purchase agreement 1) Xyratex will issue a purchase order to purchase outright from MTI the full capital asset list as detailed in the attached "Capital Asset List", which includes all hardware, software and manuals required to operate the assets. This was provided in an E-Mail from MTI as an attached spreadsheet named "Eng_assets_6_24_03_l.xls". 2) MTI provides no warranty of any kind for the assets and they are supplied as is. 3) MTT may invoice for the price of the assets on signature of this MOU. 4) The price of the assets will be $50,000 payable 30 days from date of invoice. c) Test software IP ("software") licence agreement 1) Xyratex will purchase an exclusive source and object code licence to the fall software list as detailed in the attached "Software list". This was provide in an E-mail from MTI as an attached spreadsheet named "mtitests_l.xls". 2) The license will allow Xyratex to use, modify, lease or license the software. 3) MTI provides no warranty of any kind for the software, and it is supplied as is. 4) MTI may invoice for the price of the assets on signature of this MOU. 5) The price of the software will be $200,000 payable 30 days from date of invoice. 6) Xyratex will prepare a license agreement with the above conditions and both parties intend to complete this agreement within 3O days of signature. MOU Accepted by Xyratex Technology Limited /s/ Matt Corner Date 6/26/03 - ----------------------------- Exec VP Storage Systems MTI /s/ Mark Franzen Date 6/26/03 - ----------------------------- Chief Financial Officer Mark A. Franzen XYRATEX FIXED ASSET PURCHASE

XYRATEX FIXED ASSET PURCHASE - ------------------------------------------------------------------------------------------------------------------------------------ 101905 N/A ADAPTERS X 300.00 HP-HSC 1063MBPS FC K Class Adapter AT XYRATEX - ------------------------------------------------------------------------------------------------------------------------------------ 101960 N/A ADAPTERS X 5,000.00 HP PCI 2GB Fibre Channel Adapter (2) ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ ADAPTERS X 2,750.00 ADAPTER LP8000 OPTICAL (Qty 11 - $250 ea) **WAS ENG LAB $4250 - 17X$250 - ------------------------------------------------------------------------------------------------------------------------------------ ADAPTERS X 18,400.00 ADAPTER LP9000 OPTICAL (Qty 23 - $800 ea) **WAS ENG LAB $20,000-25X$800 - ------------------------------------------------------------------------------------------------------------------------------------ ADAPTERS X 5,400.00 ADAPTER LP9000 Dual Channel OPTICAL (Qty 3 - $1800 ENG LAB ea) - ------------------------------------------------------------------------------------------------------------------------------------ 100136 1073288-002 CAB/ACCESS X 1,000.00 StorageWare SC 70" Cabinet w/ dual PDUs & Cables ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100137 1073288-001 CAB/ACCESS X 1,000.00 StorageWare SC 70" Cabinet w/ dual PDUs & Cables ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100138 1076028-000 CAB/ACCESS X 1,000.00 SW-SC 70" Cabinet w/ dual PDUs ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100142 1077117-000 CAB/ACCESS X 1,000.00 SW-SC 70" Cabinet w/ dual PDUs ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100143 1077118-000 CAB/ACCESS X 1,000.00 SW-SC 70" Cabinet w/ dual PDUs ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100140 1076029-000 CAB/ACCESS X 3,000.00 (3) 70" Cabinet w/ dual PDUs ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ CAB/ACCESS X 1,000.00 (2) HP Cabinets ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100120 CAB/ACCESS X 200.00 UPS, 3KVA, 2250W, 5.25" R/M ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100121 CAB/ACCESS X 200.00 UPS, 3KVA, 2250W, 5.25" R/M ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ CAB/ACCESS X 1,000.00 Misc. Optical Cables ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100148 DELL B5GG2 ANALYZERS X 100.00 FibreChannel XyraTest Pro & XyraView FC-AL, FC-AL ENG LAB Adapter & Protocol Analyzer - ------------------------------------------------------------------------------------------------------------------------------------ 100172 30100142 ANALYZERS X 100.00 Ancot analyzer Upgrade DSC 216/FD to Ultra 2000/BD ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100173 30100151 ANALYZERS X 100.00 Ancot analyzer Upgrade DSC216/FD to Ultra 2000/BD ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 102528 39034 NETWORK X 1,500.00 Desktop Computer- Sun Spare Based System ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100119 ###-###-#### NETWORK X 100.00 GA-686BXC Pentium II 350mhz PC w/17" Monitor, 32x ENG LAB CD-ROM - ------------------------------------------------------------------------------------------------------------------------------------ 100128 ###-###-#### NETWORK X 100.00 Tyan S1846S PIII BX 450mhz PC w/17" Monitor, 40x CD-ROM ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100130 NETWORK X 100.00 Prosignia 300 5/75 Server System ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ NETWORK X 150.00 Power Mac 6100/60 ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100105 25393241 NETWORK X 100.00 Cisco 2500 1E2T Router ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100115 SFAA0301WONP NETWORK X 300.00 Cisco Catalys CAT2900 22-Port 10/100 EN ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ NETWORK X 4,000.00 ATL L200 DLT Library (50% of list used - still in ATL ENG LAB PB) - ------------------------------------------------------------------------------------------------------------------------------------ 1034114-018 NETWORK X 200.00 Gladiator 3200 RAID Array (9300 CONVERTED TO A 3200) ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100165 1231577 NETWORK X 50.00 Gladiator 3200 Upgrade Controller (CONVERTED 9300 TO ENG LAB 3200) - ------------------------------------------------------------------------------------------------------------------------------------ 100166 1231596 NETWORK X 50.00 Gladiator 3200 Upgrade Controller (CONVERTED 9300 TO ENG LAB 3200) - ------------------------------------------------------------------------------------------------------------------------------------ NETWORK X 100.00 (2) Gladiator 3200 Upgrade Controllers ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ NOT ORIG H6T620B NETWORK X 100.00 Dell L667r PC NETWORK ROOM LIST - ------------------------------------------------------------------------------------------------------------------------------------ 100091 OFFICE SUP X 400.00 HP LaserJet 4050N Printer ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ OFFICE SUP X 100.00 Hewlett Packard LaserJet 2000CN Color Printer ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ OFFICE SUP X 50.00 Hewlett Packard Scanner ScanJet ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100037 M1351200531 OFFICE SUP X 200.00 Ricoh Fax 3700L (FROM DETROIT OFFICE) ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100038 NOT ORIG LIST OFFICE SUP X 400.00 MINOLTA COLOR PAGE WORKS PRINTER (FROM DETROIT ENG LAB OFFICE) - ------------------------------------------------------------------------------------------------------------------------------------ 100112 00175-3667 MISC X 200.00 Gladiator 3200 RAID Array CIN#5230 ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100150 1075000-000 MISC X 20.00 DLT 4000 Desktop Server ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 10396E5 MISC X 500.00 DLT 1530 Breece Hill Library ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ 100096 13000 MISC X 200.00 Gladiator 3600 RCU ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ NOT ORIG 1033545-000 MISC X 200.00 9300 W/ (8) 4GB DRVS ENG LAB LIST - ------------------------------------------------------------------------------------------------------------------------------------ NOT ORIG AB30703334 MISC X 100.00 DEC 3000 MODEL PE40A-CC ENG LAB LIST - ------------------------------------------------------------------------------------------------------------------------------------ BUYOUT 904F2D3A SERVER X 300.00 Sun Ultra2 PC w/19" Monitor,24X CD-ROM ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ BUYOUT 806FC260 NETWORK X 300.00 Sun Ultra2 PC w/19" Monitor,24X CD-ROM ENG LAB - ------------------------------------------------------------------------------------------------------------------------------------ TOTALS $114,390.00 - ------------------------------------------------------------------------------------------------------------------------------------