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Exhibit 10.3

ACKNOWLEDGEMENT AND CLARIFICATION

QAD Inc., a Delaware corporation, with its principal offices located at 100
Innovation Place, Santa Barbara, California 93108 ("QAD"), and Daniel Lender,
residing at XXXX ("Employee"), hereby acknowledge and agree that all severance
benefits, as described in Employee's offer letter of October 10, 2008, are
provided under and are subject to the terms and conditions of the Executive
Termination Policy as approved by QAD Inc.'s Board of Directors and in effect as
of December 18, 2008 (the "Policy"), but that any benefits provided to Employee
pursuant to such Policy shall be for a period of twelve (12) months instead of
six (6) months.
 
 
/s/ Daniel Lender
 
/s/ Murray Ray
Daniel Lender 
 
Murray Ray
 
 
CPO & EVP, Human Resources
    QAD Inc.        Dated:  December 18, 2008     Dated:  December 18, 2008

 
 

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