Exhibit 10.25

[LOGO]

March 19, 2001

Mr. Alex Demetriades
Sr. Vice-President—Products
SeeBeyond
404 E. Huntington Drive
Monrovia, CA 91016

Dear Alex:

        In the event of a Change of Control, fifty percent (50%) of the
then-unvested portion of any outstanding stock options granted under the
Company's stock option plan you hold shall vest and become exercisable on the
closing date of such Change of Control. For purposes of this agreement, "Change
of Control" shall be defined as the acquisition of the Company by another entity
by means of any transaction or series of related transactions (including,
without limitation, any reorganization, merger or consolidation) that results in
the transfer of more than fifty percent (50%) of the outstanding voting power of
the Company, or a sale or other transfer in a single transaction or a series of
related transactions of all or substantially all of the assets of the Company.

Sincerely,         /s/ James T. Demetriades
James T. Demetriades
Chairman, CEO and President        
/s/ Paul Celuch
Paul Celuch
Vice-President—Human Resources
 
 
 
 

cc:
 
Barry Plaga     Mark A. Brooks

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