January , 2006 [Address] Dear :Severance Agreement • January 27th, 2006 • Portal Software Inc • Services-computer programming services • California
We are pleased to inform you that the Compensation Committee of the Company’s Board of Directors has approved a new severance benefit program for you which replaces the change in control severance agreement which was previously in effect for you. The purpose of this letter agreement is to set forth the terms and conditions of your severance benefits and to explain certain limitations that may govern their overall value or payment date.
