0001104659-05-038277 Sample Contracts

TERMINATION AGREEMENT
Termination Agreement • August 10th, 2005 • Phase Forward Inc • Services-business services, nec • Massachusetts

This Termination Agreement (the “Termination Agreement”) is executed as of August 8, 2005, by and among SILICON VALLEY BANK, a California-chartered bank, with its principal place of business at 3003 Tasman Drive, Santa Clara, California 95054 and with a loan production office located at One Newton Executive Park, Suite 200, 2221 Washington Street, Newton, Massachusetts 02462 (“Bank”), and PHASE FORWARD SECURITIES CORPORATION, a Massachusetts corporation with its principal place of business at 880 Winter Street, Waltham, Massachusetts 02451 (“Guarantor”).

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PHASE FORWARD INCORPORATED NON-STATUTORY STOCK OPTION AGREEMENT (U.K.)
Non-Statutory Stock Option Agreement • August 10th, 2005 • Phase Forward Inc • Services-business services, nec • Delaware

Phase Forward Incorporated (the “Company”) hereby grants the following stock option pursuant to its 2004 Stock Option and Incentive Plan. The terms and conditions attached hereto are also a part hereof.

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