Document:

EXHIBIT 10.1
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                              EMPLOYMENT AGREEMENT

     This Employment Agreement (the "Agreement") is made as of August 1, 2002,
by and between Aki Ratner (the "Executive") and Precise Software Solutions, Inc.
(the "Company").

     WHEREAS, the Executive and the Company deem it in their respective best
interests to enter into an agreement providing for the employment of the
Executive subject to the terms and conditions hereinafter set forth.

     NOW, THEREFORE, in consideration of the foregoing and the agreements herein
contained, the parties hereto hereby agree as follows:

1.   EMPLOYMENT. Subject to the terms and conditions set forth in this
     Agreement, the Company offers and the Executive hereby accepts employment
     in the role of President to manage sales, marketing and administrative
     operations, effective as of August 1, 2002 (the "Effective Date"). The
     parties agree that such employment shall be on an at-will basis, which
     means that either the Executive or the Company may, subject to the
     provisions of this Agreement, terminate the employment relationship (and
     this Agreement) at any time, for any or no reason, with or without cause,
     upon written notice to the other party. The term of this Agreement, as from
     time to time may be modified and in effect, is hereafter referred to as
     "the term of this Agreement" or the "term hereof."

2.   CAPACITIES AND PERFORMANCE. The Executive shall report to the Company's
     CEO. The Executive shall comply with and perform, faithfully, diligently
     and to the best of his ability, such directions and duties in relation to
     the business and affairs of the Company as may from time to time be vested
     in or requested of him by the Company. The Executive shall devote his time,
     attention and energies to the business of the Company, and shall not work
     as an executive, independent consultant or agent for another entity, during
     the time which he is meant to devote to the business of the Company,
     without the Company's permission.

3.   COMPENSATION AND BENEFITS. As compensation for the satisfactory performance
     by the Executive of his duties and obligations hereunder to the Company and
     subject to the provisions of Section 5, the Executive shall receive:

     3.1  BASE SALARY. The Executive's initial base salary shall be paid at a
          rate of $17,625 per month (the "Base Salary"). The Base Salary shall
          be payable in accordance with the customary payroll practices of the
          Company, but at least paid monthly,
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          as may be established or modified from time to time and shall be
          subject to all applicable federal, state and/or local payroll and
          withholding taxes.

     3.2  BONUS.

          (a)  During the first year of employment the Company shall pay the
               Executive a bonus of $37,000 per quarter for each fiscal quarter
               end. All bonus payments will be subject to the Company's normal
               meritorious bonus practice described below based on revenue and
               operating income attainment goals consistent with those of the
               CEO and as described by the 2002 MBO Plan approved by the board

          (b)  SIGNING BONUS. None

     3.3  STOCK OPTIONS.

          (a)  Subject to the approval by Precise Software Solutions Ltd.'s
               Board of Directors (the "Board") and subject to the terms,
               conditions and restrictions of the Precise Software Solutions
               Ltd.'s ("Precise Ltd.") Amended and Restated 1998 Share Option
               and Incentive Plan (the "Plan") and a stock option agreement
               between the Company and the Executive, the Executive shall be
               eligible to be granted options, as established by and at the sole
               discretion of the Board, to purchase shares of Precise Ltd.'s
               common stock at the fair market value for each year of
               employment.

          (b)  Acceleration of Vesting of Option for Business Combinations -
               Upon a Transfer of Control (as defined in the Plan), 50% of the
               Executive's total unvested shares shall, immediately prior to the
               consummation of such Transfer of Control, become vested in
               accordance with the terms of the option agreement and immediately
               exercisable by the Executive. In addition to the above, upon (1)
               a closing of a Transfer of Control and (2) the occurrence of a
               Termination Event (as defined below), the remaining 50% of the
               unvested shares subject to an option agreement shall immediately
               be exercisable by the Executive.

               A Termination Event is defined as the involuntary termination of
               employment of the Executive within one (1) year after the closing
               of a Transfer of Control other than under Disgraceful
               Circumstances In addition, a Termination Event shall also include
               the following if such event has occurred within one (1) year
               after the closing of a Transfer of Control: (1) reduction in
               salary or reduction in the level of benefits of the Executive as
               in effect on the date immediately
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               prior to the closing of the Transfer of Control: (2) a diminution
               in the nature of scope of the Executive's authority, duties or
               responsibilities in effect immediately prior to the closing of
               the Transfer of Control; or (3) change in location of the
               principle office to which the Executive must report of greater
               that 50 miles.

     3.4  VACATION. Subject to and in accordance with the Company's policy, the
          Executive shall be eligible for 10 days of paid vacation per calendar
          year.

     3.5  BENEFITS. Subject to any contribution therefor generally required of
          executives of the Company, the Executive will be eligible to
          participate in the Company's benefits plans to the same extent as, and
          subject to the same terms, conditions and limitations applicable to
          other executives of the Company in similar positions. Such
          participation shall be subject to (i) the terms of the applicable plan
          documents, (ii) generally applicable Company policies, and (iii) the
          discretion of the Company and/or the Board or any administrative or
          other committee provided for in or contemplated by such plan. The
          Company's current plans and policies, as applicable, shall govern all
          other benefits. The Company, may alter, modify, add to, or delete its
          employee benefits plans and/or policies at any time as the Company
          and/or the Board, in their sole judgment, determine to be appropriate.

     3.6  RELOCATION. None

     3.7  BUSINESS EXPENSES. The Company shall pay or reimburse the Executive
          for all reasonable business expenses incurred or paid by the Executive
          in the performance of his duties and responsibilities hereunder,
          subject to (i) any reasonable expense policy set by the Company as may
          be modified from time to time, and (ii) such reasonable substantiation
          and documentation requirements as may be specified by the Company from
          time to time.

4.   TERMINATION OF EMPLOYMENT. The Executive's employment and this Agreement
     shall terminate under the following circumstances:

     4.1  DEATH OR DISABILITY. In the event of the Executive's death or
          Disability (as defined herein) during the term hereof, the Executive's
          employment and this Agreement shall immediately and automatically
          terminate and the Company shall pay to the Executive (or in the case
          of death, the Executive's designated beneficiary, or if no beneficiary
          has been designated by Executive, his estate), any Base Salary, pro
          rata bonus and pro rata vested options earned but unpaid through the
          date of death or Disability. For the purposes of this Agreement,
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          "Disability" shall mean any physical incapacity or mental incompetence
          (i) as a result of which the Executive is unable to perform
          substantially all his duties or responsibilities hereunder for an
          aggregate of 120 days, whether or not consecutive, during any calendar
          year, and (ii) which cannot be reasonably accommodated by the Company
          without material undue hardship. Any determination of disability shall
          be made by a qualified physician or physicians selected by the Company
          and the Executive. The failure of the Executive to submit to a
          reasonable examination by such physician shall constitute
          determination of a permanent Disability.

     4.2  BY THE COMPANY BECAUSE OF DISGRACEFUL CIRCUMSTANCES.

          (a)  The Company may terminate the Executive's employment and this
               Agreement because of Disgraceful Circumstances at any time during
               the term hereof. The Company shall thereafter have no further
               obligation or liability to the Executive relating to the
               Executive's employment or this Agreement, other than Base Salary
               and pro rata bonus earned but unpaid and pro rata vested options
               through the date of termination.

          (b)  The following events or conditions shall constitute "Disgraceful
               Circumstances" for termination (which shall hereafter only be
               referred to as "Dismissal for Cause"): (i) willful gross
               negligence, willful misconduct or willful breach of fiduciary
               duty to the Company or Precise Ltd., (ii) commission of an act of
               embezzlement or fraud; (iii) deliberate disregard of the rules or
               policies of the Company or Precise Ltd. which results in direct
               material loss, damage or injury to the Company, Precise Ltd. or
               any subsidiary of Precise Ltd., (iv) the unauthorized disclosure
               of any trade secret or confidential information of the Company,
               Precise Ltd. or any subsidiary of Precise Ltd. which materially
               harms the Company.

     4.3  BY THE COMPANY. The Company may terminate the Executive's employment
          and this Agreement at any time, for any or no reason, during the term
          hereof. In the event of such termination, the Executive will be
          entitled to a continuation, for seven (7) months from the date of the
          Executive's termination of employment, of (i) his salary in an amount
          equal to the Executive's Base Salary (in effect at the time of such
          termination) and full bonus based on Company results, (ii) vesting of
          options in accordance with any option agreement in effect at the time
          of termination, and (iii) payment of premiums (in the same amount as
          of the Executive's date of termination) on the Executive's behalf to
          continue his health insurance, to the extent the Executive elects to
          continue such coverage in accordance with and pursuant to the
          Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA").
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     4.4  BY THE EXECUTIVE. The Executive also may terminate this Agreement
          and/or his employment with the Company for any or no reason during the
          term hereof upon 15 days' prior notice to the Company. Upon receipt of
          such notice, the Company may elect to accelerate the Executive's
          termination and pay to the Executive (i) an amount equivalent to the
          Executive Base Salary (in effect at the time of such termination) and
          (ii) pro rata bonus based on the Company's results for the quarter
          prior to the date of termination. The Executive shall also be entitled
          to exercise his stock options with respect to those options in which
          he was fully vested as of the effective date of his termination. In
          the event Executive's termination is accelerated under this provision,
          vesting of options shall continue through the next vesting date within
          the remainder of the 15-day notice period.

5.   EFFECT OF TERMINATION. The provisions of this Section 5 shall apply in the
     event of termination of this Agreement and/or the Executive's employment
     pursuant to Section 4.

     5.1  PAYMENT IN FULL. In the event of termination of this Agreement and/or
          the Executive's employment for any reason other than for Disgraceful
          Circumstances, in addition to and not in lieu of any other payments
          provided for hereunder, the Executive will be entitled to a
          continuation, for nine (9) months from the date of the Executive's
          termination of employment, death or Disability (or, in the event of
          termination pursuant to Section 4.3, upon expiration of the payments
          provided for therein) of (i) his salary in an amount equal to the
          Executive's Base Salary (in effect at the time of such termination)
          and full bonus based on Company results, (ii) vesting of options in
          accordance with any option agreement in effect at the time of
          termination, and (iii) payment of premiums (in the same amount as of
          the Executive's date of termination) on the Executive's behalf to
          continue his health insurance, to the extent the Executive elects to
          continue such coverage in accordance with and pursuant to the
          Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA").
          Payment by the Company to the Executive of any Base Salary, bonus,
          vested stock options, related benefit and other compensation amounts
          shall constitute the entire obligation of the Company to the
          Executive, except that nothing in this Section 5.1 is intended or
          shall be construed to affect the rights and obligations of the
          Company, on the one hand, and the Executive, on the other, with
          respect to any loans, stock warrants, stock pledge arrangements,
          option plans or other agreements to the extent said rights or
          obligations survive the Executive's termination of employment under
          the provisions of documents relating thereto.
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    5.2   TERMINATION OF BENEFITS. Except for any right of continuation of
          benefits coverage to the extent provided herein and/or provided by
          COBRA or other applicable law, benefits shall terminate pursuant to
          the terms of the applicable benefit plans as of the termination date
          of the Executive's employment without regard to any continuation of
          Base Salary or other payments to the Executive following such
          termination date.

     5.3  CESSATION OF COMPENSATION AND BENEFITS. If the Executive materially
          breaches his obligations under this Agreement and/or the
          Confidentiality Agreement, the Company may immediately cease payment
          of all compensation, severance and benefits described in this
          Agreement. The cessation of these payments shall be in addition to,
          and not as an alternative to, any other remedies at law or in equity
          available to the Company, including the right to seek specific
          performance or an injunction.

6.   SURVIVAL OF CERTAIN PROVISIONS. The obligations of the Executive under the
     Confidentiality Agreement expressly survive any termination of the
     Executive's employment or termination of this Agreement for up to twelve
     months, regardless of the manner of such termination.

7.   CONFLICTING AGREEMENTS. The Executive and the Company hereby warrant that
     the execution of this Agreement and the performance of obligations
     hereunder will not breach or be in conflict with any other agreement to
     which or by which the Executive or the Company is a party or is bound and
     that the Executive is not now subject to and will not enter into any
     covenants against competition or similar covenants that would affect the
     performance of his obligations hereunder. Moreover, where this Agreement
     conflicts with other of the Company's agreements, the terms included in
     this Agreement will be determinative.

8.   WITHHOLDING TAXES. All payments made by the Company under this Agreement
     shall be subject to and reduced by any federal, state and/or local taxes or
     other amounts required to be withheld by the Company under any applicable
     law.

9.   MISCELLANEOUS.

     9.1  ASSIGNMENT. The Executive shall not assign this Agreement or any
          interest herein. The Company may assign this Agreement. No such
          assignment shall be deemed a "termination" of the Executive's
          employment within the meaning of Section 4. This Agreement shall inure
          to the benefit of and be binding upon the successors and assigns of
          the Company.
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     9.2  SEVERABILITY. The Executive and the Company agree that each provision
          and the subparts of each provision herein shall be treated as separate
          and independent clauses and the unenforceability of any one clause
          shall in no way impair the enforceability of any of the other clauses
          of the Agreement. Moreover, if one or more of the provisions contained
          in this Agreement shall for any reason be held to be excessively broad
          as to scope, activity, subject or otherwise so as to be unenforceable
          at law, such provision or provisions shall be construed by the
          appropriate judicial body by limiting or reducing it or them, so as to
          be enforceable to the maximum extent compatible with the applicable
          law as it shall then appear. The Executive and the Company hereby
          further agree that the language of all parts of this Agreement shall
          in all cases be construed as a whole according to its fair meaning and
          not strictly for or against either of the parties.

     9.3  WAIVER AMENDMENT. Any waiver by the Company of a breach of any
          provision of this Agreement shall not operate or be construed as a
          waiver of any subsequent breach of such provision or any other
          provision hereof. In addition, any amendment to or modification of
          this Agreement or any waiver of any provision hereof must be in
          writing and signed by the Company and the Executive.

     9.4  NOTICES. All notices, requests and other communications provided for
          by this Agreement shall be in writing and shall be effective when
          delivered in person or four business days after being deposited in the
          mail of the United States, postage prepaid, registered or certified,
          and addressed (a) in the case of the Executive, to the address set
          forth underneath his signature to this Agreement or (b) in the case of
          the Company, to the attention of Shimon Alon, c/o Precise Software
          Solutions, Inc, 690 Canton Street, Westwood, MA 02090; and/or to such
          other address as either party may specify by notice to the other.

     9.5  ENTIRE AGREEMENT. This Agreement and any stock option agreements
          between the Company and the Executive constitute the entire agreement
          between the Company and the Executive with respect to the terms and
          conditions of the Executive's employment with the Company and
          supersede and cancel all prior communications, agreements and
          understandings, written or oral, between the Executive and the Company
          with respect to the terms and conditions of the Executive's employment
          with the Company.
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     9.6  COUNTERPARTS. This Agreement may be executed in counterparts, each of
          which shall be original and all of which together shall constitute one
          and the same instrument.

     9.7  GOVERNING LAW. This Agreement, the employment relationship
          contemplated herein and any claim arising from such relationship,
          whether or not arising under this Agreement, shall be governed by and
          construed in accordance with the internal laws of the Commonwealth of
          Massachusetts without giving effect to any choice or conflict of laws
          provision or rule thereof, and this Agreement shall be deemed to be
          performable in such Commonwealth.

     9.8  CONSENT TO JURISDICTION. The Executive and the Company agree to in
          good faith seek arbitration to settle any differences. The arbitration
          will be in Boston, Massachusetts at the American Arbitration
          Association ("AAA") before a single arbitrator. Such arbitrator shall
          be selected in accordance with AAA's then current rules and
          regulation. In the event no settlement is reached, the Executive, by
          his execution hereof, hereby irrevocably submits to the exclusive
          jurisdiction of the state or federal courts of the Commonwealth of
          Massachusetts for the purpose of any claim or action arising out of or
          based upon this Agreement, the Executive's employment with the Company
          and/or termination thereof, or relating to the subject matter hereof,
          and agrees not to commence any such claim or action other than in the
          above-named courts.

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IN WITNESS WHEREOF, this Agreement has been executed by the Company, by its duly
authorized representative, and by the Executive, as of the date first above
written.

                                         PRECISE SOFTWARE SOLUTIONS, INC.

                                         By: /s/ Shimon Alon
                                            -------------------------------
                                         Name:  Shimon Alon
                                         Title:  CEO

                                         THE EXECUTIVE

                                          /s/ Aki Ratner
                                         ----------------------------------
                                         Aki Ratner

                                         ADDRESS:
                                                  -------------------------EXHIBIT 10.2
                                                                    ------------

                              EMPLOYMENT AGREEMENT

This EMPLOYMENT AGREEMENT is made and entered into as of August 1, 2002 by and
among Precise Software Solutions Ltd. ("Company") and Itzhak (Aki) Ratner, I.D.
No. 54040977 (the "Employee")

WHEREAS, the Company desires to employ the Employee as set forth in Exhibit A,
and the Employee desires to enter into such employment, on the terms and
conditions hereinafter set forth.

NOW, THEREFORE, in consideration of the respective agreements of the parties
contained herein, the parties agree as follows:

1. EMPLOYMENT

     1.1. The Employee shall be employed according to the job description set
          forth in Exhibit A. The Employee shall perform the duties, undertake
          the responsibilities and exercise the authority customarily performed,
          undertaken and exercised by persons situated in a similar capacity.

     1.2. The Employee agrees to devote attention and time to the business and
          affairs of the Company as required to fulfill the responsibilities
          assigned to the Employee hereunder.

     1.3. The Employee shall perform his duties to the best of his ability and
          shall use his best efforts to further the interests of the Company.

     1.4. The Employee's duties shall be in the nature of management duties that
          demand a special level of loyalty, and accordingly, the Law of Work
          Hours and Rest - 1951 shall not apply to this Agreement.

2. COMPENSATION AND BENEFITS

     2.1. During the term of this Agreement, the Employee shall be entitled to
          receive an annual gross salary set forth in Exhibit A (the "Base
          Salary") paid in monthly installments in accordance with the Company's
          normal payroll practice.

     2.2. The Employee acknowledges that his employment under this Agreement is
          such that it does not allow for the compliance with strict working
          hours, and therefore he shall not be entitled to any overtime
          payments.

3. EXPENSES

     The Employee shall be entitled to receive prompt reimbursement of approved
     expenses reasonably incurred by the Employee in accordance with Company's
     policies and in connection with the performance of the Employee's duties
     hereunder; provided, however, that the Employee has submitted supporting
     information and documentation as customary in the Company.

<PAGE>

4. TERM AND TERMINATION

     4.1. The term of employment under this Agreement shall commence on date set
          forth in Exhibit A (the "Commencement Date"), and will continue unless
          either party gives the other notice of its intent to terminate this
          Agreement ("Notice"), in which case this Agreement shall terminate
          (subject to Section 4.4 below) - (i) if the Employee voluntarily
          terminated his employment ("Voluntary Termination") - 60 days after
          the delivery of the Notice, or (ii) if the Company terminated the
          Employee's employment, except for Cause, as set forth below
          ("Involuntary Termination") - seven (7) months after the delivery of
          the Notice (the "Notice Period").

     4.2. Subject to any applicable law, during the Notice Period, the Employee
          shall be entitled to the Base Salary and all other benefits.

     4.3. During the Notice Period, the Employee shall cooperate with the
          Company and use his best efforts to assist the integration into the
          Company's organization of the person or persons who will assume the
          Employee's responsibilities. Failure to so cooperate may jeopardize
          receipt by Employee of his compensation pursuant to Section 2 of this
          Agreement. At the option of the Company, the Employee shall during
          such period either continue with his duties, perform other duties as
          may be required by the Company, or remain absent from the premises of
          the Company.

     4.4. Notwithstanding the aforesaid, the Company shall have the right to
          terminate this Agreement at any time in the event of the Disability of
          the Employee (as hereinafter defined) or for Cause (as hereinafter
          defined), pursuant to a decision of the Company. In such event, this
          Agreement and the employment relationship shall be deemed effectively
          terminated as of the date of delivery of such notice.

          The term "Disability" means a physical or mental infirmity, which
          impairs the Employee's ability to substantially perform his duties
          under this Agreement for a period of 3 consecutive months or for a
          total of 90 days during any 180-day period. The term "Cause" means the
          termination of employment of the Employee for reason of (a) the
          Employee being convicted of a felony (other than a traffic-related
          offense); (b) the Employee's willful misconduct or material negligence
          with regard to the business, assets or employees of the Company or its
          affiliated entities, including breach of fiduciary duty, or other
          conduct which is materially detrimental to the Company or its
          affiliates, as determined by the Board, which shall include, but not
          be limited to, willful neglect of his duties and persistent failure to
          follow reasonable instructions of the Board, (c) the Employee's theft,
          embezzlement, dishonesty or fraud with regard to the Company or its
          affiliates which is intended to enrich the Employee or another person
          or entity (but not including reasonable good faith expense account
          disputes); or (d) any other material breach by the Employee of this
          Employment Agreement which, if curable, remains uncured for twenty
          (20) days after written notice thereof is given to the Employee, or
          any breach of his duties of non-disclosure, confidentiality or
          non-competition which the Employee agrees are not curable.

<PAGE>

5. EFFECT OF TERMINATION

     5.1. The provisions of this Section 5 shall apply in the event of
          termination of this Agreement and/or the Employee's employment
          pursuant to Section 4 above.

     5.2. Payment in Full. In the event of termination of this Agreement and/or
          the Employee's employment for any reason other than for Cause, in
          addition to and not in lieu of any other payments provided for
          hereunder, the Employee will be entitled to a continuation, for nine
          (9) months from the date of the Employee's termination of employment,
          death or Disability of his salary in an amount equal to the Employee's
          Base Salary (in effect at the time of such termination, death or
          Disability), Social Benefits and Company car, and vesting of options
          in accordance with any option agreement in effect at the time of
          termination.

     5.3. Sections 6 and 7 shall survive the termination of this Agreement.

6. PROPRIETARY INFORMATION AND WORK PRODUCT; EQUIPMENT

     6.1. The Employee agrees, subject to any applicable law and regulation, to
          keep all the terms and conditions of this Agreement in the strictest
          confidence and not to disclose the contents thereof to any person
          without the prior written consent of the Company's board of directors.

     6.2. The Employee agrees and declares that all "Proprietary Information"
          (as defined below), at all times, both during the term of this
          Agreement and after its termination, will be kept in confidence and
          trust by the Employee and the Employee will not use or disclose any
          Proprietary Information without the written consent of the Company
          except as may be necessary in the ordinary course of performing the
          Employee's duties hereunder.

          Proprietary Information shall be deemed to include any information,
          technical data, or know-how of the Company and any information,
          technical data, or know-how derived from the information, technical
          data, or know-how of the Company, including but not limited to, that
          which relates to research, product plans, products, specifications,
          algorithms, services, customers, client contacts or lists, suppliers,
          markets, software, developments, inventions, processes, designs,
          drawings, engineering, future products, hardware configuration
          information, marketing or finances, including similar information
          pertaining to affiliates and subsidiaries of the Company, and all
          information acquired or disclosed by or on behalf of the Company or
          its affiliates or to which the Employee becomes exposed during the
          term of this Agreement and irrespective of form relating to the past,
          present and future business of the Company or its affiliates or any
          plans therefore, but excluding information that has appeared in any
          printed publication or has become a part of the public knowledge
          except as a result of breach of this Agreement by the Employee.

     6.3. The Employee hereby acknowledges that in consideration for his
          employment by the Company, all "Work Products" (as defined below) are
          works made for hire and belong exclusively to the Company, and the
          Employee will not have any rights or title whatsoever thereto. The
          Employee hereby declares that he does not have and will not have any
          claim or demands of any description against the Company or its

<PAGE>

          subsidiaries in any matter concerning or arising, directly or
          indirectly from any Work Product and that all Work Products and
          Proprietary Information are and shall remain exclusively owned and
          vested in the Company, and the Employee hereby assigns and transfers
          to the Company, its successors, assignees and designees, any and all
          Work Products that may be deemed to vest in the Employee by virtue of
          any law, agreement or otherwise in any and all countries.

          "Work Products" shall be defined as any design, idea, invention,
          device, know how, hardware, software, process, apparatus, technique,
          trade secret, mask work, material, methods of construction or
          operation, intellectual property rights, code, algorithms, plan,
          business plan, budget, marketing plan, business idea and/or
          initiative, development, concept, demo, invention, product, work
          product, plan, hardware or software design, drawing, software code,
          copyrights, patents or trade secrets, whether or not copyrightable or
          patentable, in any field related to the business of the Company or its
          affiliates which Employee, whether directly or indirectly, alone or in
          conjunction with others, during or outside of normal working hours and
          on or off Company's premises, conceives and/or generates and/or
          reduces to practice during the employment period and/or as a result of
          his employment with the Company.

     6.4. The Employee will assist the Company in every proper way to obtain,
          and from time to time enforce proprietary rights relating to
          inventions in any and all countries. To that end the Employee agrees
          to execute, verify and deliver such documents and perform such other
          acts (including appearances as a witness) as the Company may
          reasonably request for use in applying for, obtaining, perfecting,
          evidencing, sustaining and enforcing such proprietary rights and the
          assignment thereof. In addition, the Employee agrees to execute,
          verify and deliver assignments of such proprietary rights to the
          Company or its designee. The Employee's obligation to assist the
          Company with respect to Work Products relating to such Company
          inventions in any and all countries shall continue beyond the
          termination of Employee's employment.

     6.5. In the event the Company is unable for any reason, after reasonable
          effort, to secure the Employee's signature on any document needed in
          connection with the actions specified in the preceding paragraph, the
          Employee hereby irrevocably designates and appoints the Company and
          its duly authorized officers and agents as his agent and attorney in
          fact, which appointment is coupled with an interest and made for the
          benefit of a third party, to act for and in the Employee's behalf to
          execute, verify and file any such documents and to do all other
          lawfully permitted acts to further the purposes of the preceding
          paragraph with the same legal force and effect as if executed by the
          Employee. The Employee hereby waives any and all claims, of any nature
          whatsoever, which he now or may hereafter have for infringement of any
          proprietary rights assigned hereunder to the Company.

     6.6. For the avoidance of doubt, it is hereby agreed that after the
          termination of this Agreement, in the event that the Employee engages
          in activities which are in violation of the Employee's undertakings
          pursuant to Section 7 below, the fruit of such activities shall,
          subject to any applicable law, belong exclusively to the Company
          without payment by the Company to the Employee or any other person of
          any consideration.

<PAGE>

7. NON-SOLICITATION AND NON-COMPETITION

     7.1. The Employee agrees and undertakes that he will not, during his
          employment and for a period of 12 months following the delivery of
          notice of termination of his employment (the "Non-Competition
          Period"), directly or indirectly, as owner, partner, joint venturer,
          officer, consultant, employee, broker, agent, principal, trustee,
          director, licensor or in any other capacity whatsoever engage in, or
          have any connection with, any business or venture that is engaged in
          any activities competitive to the business of the Company or its
          affiliates.

     7.2. During the Non-Competition Period, the Employee will not, for his own
          benefit or for the benefit of any person or entity other than the
          Company, solicit, or assist any person or entity other than the
          Company to solicit, any officer, director, executive or employee of
          the Company or affiliates to leave his employment, or

     7.3. During the Non-Competition Period, the Employee will not knowingly and
          willfully (i) solicit, or assist any person or entity other than the
          Company to solicit, any person or entity that had a business
          relationship with the Company, whether established or perspective,
          including clients, business partners, distributors, dealers, agents,
          investors, manufacturers, suppliers, consultants or others to purchase
          product or establish another business relationship competitive with
          the Company or affiliates.

     7.4. The Employee acknowledges that (i) the markets served by the Company
          are international in scope and are not dependent on the geographic
          location of the executive personnel or the businesses by which they
          are employed; and (ii) the above covenants are manifestly reasonable
          on their face, and the parties expressly agree that such restrictions
          have been designed to be reasonable and no greater than is required
          for the protection of the Company.

     7.5. If any one or more of the terms contained in this Section 7 shall for
          any reason be held to be excessively broad with regard to time,
          geographic scope or activity, that term shall be construed in a manner
          to enable it to be enforced to the maximum extent compatible with
          applicable law.

8. MISCELLANEOUS

     8.1. NOTICES. For the purpose of this Agreement, notices and all other
          communications provided for in the Agreement shall be in writing and
          shall be deemed to have been duly given when personally delivered or
          sent by registered mail, postage prepaid, addressed to the respective
          addresses set forth above or last given by each party to the other.
          All notices and communications shall be deemed to have been received
          on the date of delivery thereof, except that notice of change of
          address shall be effective only upon receipt. The initial addresses of
          the parties for purposes of this Agreement shall be as indicated
          above.

<PAGE>

     8.2. ASSIGNMENT. Neither this Agreement nor any right or interest hereunder
          shall be assignable or transferable by the Employee.

     8.3. MODIFICATION; WAIVER. No provision of this Agreement may be modified,
          waived or discharged unless such waiver, modification or discharge is
          agreed to in writing and signed by the Employee and approved by the
          Chairman of the Board of Directors, on behalf of the Company. No
          waiver by either party hereto at any time of any breach by the other
          party hereto of, or compliance with, any condition or provision of
          this Agreement to be performed by such other party shall be deemed a
          waiver of similar or dissimilar provisions or conditions at the same
          or at any prior or subsequent time.

     8.4. SEVERABILITY. To the extent that any of the agreements set forth
          herein, or any word, phrase, clause, or sentence thereof are found to
          be illegal or unenforceable for any reason, such agreement, word,
          clause, phrase or sentence will be enforced to the maximum extent
          possible, and any unenforceable portion will be modified or deleted
          automatically in such a manner so as to make the agreement as modified
          legal and enforceable under applicable laws, and the balance of the
          agreements or parts thereof will not be affected thereby, the balance
          being construed as severable and independent.

     8.5. ENTIRE AGREEMENT. This Agreement and the Exhibits hereto represents
          the entire agreement between Employee and the Company with respect to
          the subject matter hereof, superseding all previous oral or written
          communications, representations or agreements between them with
          respect to such subject matter, including, without limitation, the
          employment agreement dated May 1, 1997 as amended, and all such
          agreements and understandings shall terminate on the date hereof.

     8.6. GOVERNING LAW. This Agreement shall be governed by and construed and
          enforced in accordance with the laws of the State of Israel.

IN WITNESS WHEREOF, the parties have executed this Agreement, as of the day and
year first above written.

PRECISE SOFTWARE SOLUTIONS LTD.          ITZHAK (AKI) RATNER

By:    /s/ Shimon Alon                   /s/ Aki Ratner
      -------------------------          ----------------------------------
Name:  Shimon Alon
      -------------------------
Title: CEO
      -------------------------

<PAGE>

                                    EXHIBIT A

1. TITLE -               President

2. JOB DESCRIPTION -     Overseeing and establishing the Company technology
                         vision

3. COUNTRY OF
   EMPLOYMENT -          Israel

4. REPORTING TO -        CEO of Company

5. COMMENCEMENT DATE -   August 1, 2002

6. BASE SALARY -         USD37,500 per year

7. CAR -                 The Company shall provide the Employee with a car,
                         selected according to Company policy as follows (the
                         "Car"). The Employee or his spouse may use the Car.

                         Upon the termination of employment, the Employee shall
                         promptly return the Car with the keys and all licenses
                         and other documentation relating to the Cars, to the
                         Company.

                         The Employee shall take good care of the Car and ensure
                         that the provisions and conditions of any policy of
                         insurance relating thereto are observed (including the
                         provision with respect to protection of the Car).

                         The Company shall bear all the fixed and variable costs
                         of the Car, including licenses, insurance, gasoline and
                         repairs. The Company shall not, at any time, bear the
                         costs of any tickets, traffic offense or fines of any
                         kind. The employee shall bear all the personal tax
                         consequences of the use of the Car.

                         The Employee shall take good care of the Car and ensure
                         that the provisions and conditions of any policy of
                         insurance relating thereto are observed.

                         Employee shall not have any lien right in the Car or in
                         any document or property relating thereto.

8. SOCIAL BENEFITS -     Manager's Insurance. The Company will pay to an
                         insurance company selected by Employee as premium for
                         manager's insurance for the Employee, an amount equal
                         to 13.33% (5% towards pension insurance and 8.33%
                         towards severance pay) of US$2,812 (the "Insured
                         Salary"), together with up to 2.5% of the Insured
                         Salary for disability, and will deduct from each
                         monthly payment and pay to such insurance company an
                         amount equal to 5% of the Insured Salary, which shall
                         constitute the Employee's contribution to such premium.
                         Upon the termination of the Employee's employment under

<PAGE>

                         circumstances which entitle the Employee to severance
                         pay according to Israeli labor law, excluding
                         termination for Cause, as defined in the Agreement, all
                         manager's insurance benefits shall be assigned to the
                         Employee, and the amounts which the Employee receives
                         pursuant to the manager's insurance policy, which are
                         attributed to severance pay, shall be credited against
                         any obligation that the Company may have to pay
                         severance pay to the Employee.

                         Educational Fund ("Keren Hishtalmut"). The Company will
                         contribute to an education fund an amount equal to 7.5%
                         of the Insured Salary, and will deduct from each
                         monthly payment and contribute to such education fund
                         an additional amount equal to 2.5% of the Insured
                         Salary.

9. VACATION -            The Employee shall be entitled to an annual vacation of
                         5 working days on account of his contribution to
                         Company. The Employee shall coordinate the dates of his
                         vacation with the Company, and shall take into
                         consideration the Company's needs.

10. SICK LEAVE AND       Pursuant to the applicable law.
    RECUPERATION
    PAYMENTS -

11. TAXES -              Except as otherwise specified herein, all taxes arising
                         out of the grant, use or exercise of any of the above,
                         shall be borne by the Employee, who acknowledges that
                         such taxes will be withheld from the Base Salary as
                         required by law.

PRECISE SOFTWARE SOLUTIONS LTD.          ITZHAK (AKI) RATNER

By:    /s/ Shimon Alon                    /s/ Aki Ratner
      -------------------------          ----------------------------------
Name:  Shimon Alon
      -------------------------
Title: CEO
      -------------------------

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