NetVault fails to start with "shared memory name is already in use" and no nv process exist (4047744)

Exchange jobs hang indefinately in the state: "Running: Checking consistency of databases on snapshot" handled by MEG-403. 
Aborting such hung job and stopping the netvault service, prevents NetVault from restarting 
nvpmgr trace shows the NetVault shared memory name is already in use:

2 SHM ??? 8940 26 0 141357704276 Create shared memory 'Global\NetVault_SharedMemory_EXCHANGE_0'
5 SHM ??? 8940 8 0 141357704276 shared memory name is already in use
5 SHM ??? 8940 10 0 141357704276 FALSE = ShmAllocate(0x00445CD0, 2048000)
0 PMGR ??? 8940 27 0 141357704276 failed to get shared memory for process manager
0 PMGR ??? 8940 158 0 141357704276 Failed to initialize shared memory
2 PMGR ??? 8940 146 0 141357704276 FALSE = PmgrInitialize()
0 PMGR ??? 8940 2 1 141357704276 Failed to initialize giveup
5 PROCESS ??? 8940 13 0 141357704276 ProcCleanup(1)

However nvpmgr is indeed stopped
- no zombie 'nv' processes exist in Task Manager
Using tools such as accesschk.exe, handle.exe, or Process Explorer, we can see the shared memory name was in use by ESEUTIL.exe:
cmd.exe 7508 Handle C:\Program Files (x86)\BakBone Software\NetVault Backup
cmd.exe 7508 Handle \BaseNamedObjects\NetvaultSigKillEvent7660
cmd.exe 7508 Handle \BaseNamedObjects\NetVault_SharedMemory_EXCHANGE_0
eseutil.exe 7656 Handle C:\Program Files (x86)\BakBone Software\NetVault Backup
eseutil.exe 7656 Handle \BaseNamedObjects\NetvaultSigKillEvent7660
eseutil.exe 7656 Handle \BaseNamedObjects\NetVault_SharedMemory_EXCHANGE_0