Document:

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                                                                   EXHIBIT 10.15

THE SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE, AND MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES
LAWS OR PURSUANT TO AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND SUCH LAWS. THIS PROMISSORY NOTE IS SUBORDINATED IN
FAVOR OF SILICON VALLEY BANK AND ITS SUCCESSORS AND ASSIGNS PURSUANT TO A
SUBORDINATION AGREEMENT DATED AS OF MAY 7, 2004.

                            DALEEN TECHNOLOGIES, INC.

                 FORM OF REVOLVING SUBORDINATED PROMISSORY NOTE

                                (NON-NEGOTIABLE)

$5,100,000.00                                                Boca Raton, Florida

      Daleen Technologies, Inc. (the "Borrower"), a Delaware corporation, for
value received, hereby promises to pay to ___________ ("Holder") in lawful money
of the United States at the address of the Holder set forth below, the lesser of
(a) Five Million One Hundred Thousand Dollars ($5,100,000.00) and (b) the
outstanding principal amount of this Note as of the Maturity Date, together with
interest thereon as calculated in accordance with the terms of this Note. All
terms not defined herein shall have the meanings given to them in the Bridge
Loan Agreement, dated as of May 7, 2004 (the "Bridge Loan Agreement"), among the
Borrower, the Holder, and the other Lenders party thereto. This Note is one of
the revolving promissory notes issued pursuant to the Bridge Loan Agreement, and
is referred to collectively with all such promissory notes issued thereunder as
the "Bridge Notes."

      1.    Principal and Interest. The outstanding principal amount of this
Note shall be paid on the second business day after the date of delivery of any
written demand by the Holder for payment delivered to the Borrower on or after
the earlier of (a) May 1, 2005 and (b) the thirtieth day after any termination
of the Agreement and Plan of Merger and Share Exchange, of even date herewith
(the "Merger Agreement"), by and among the Borrower, Daleen Holdings, Inc.,
Parallel Acquisition, Inc., and the Lenders (or any termination of any other
Transaction Agreement, as defined in the Merger Agreement) (such date, the
"Maturity Date"). Interest on the principal amount of this Note outstanding from
time to time shall accrue on such outstanding amounts at the rate of six percent
(6%) per annum. Interest shall be payable on the Maturity Date or, if earlier,
the date of any prepayment with respect to the amounts so prepaid. Interest
shall be calculated using the actual number of days elapsed during the
applicable interest period and a calendar year of 365 or 366 days, as
applicable.

      The Note may be prepaid without penalty, in whole or in part, at any time.
Upon payment in full of all principal and interest payable hereunder, this Note
shall be surrendered to Borrower for cancellation.

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      2.    Assignment. Except as contemplated by the Note Purchase Agreement,
of even date herewith, by and among the Borrower, Daleen Holdings, Inc.,
Parallel Acquisition, Inc. and the Lenders, this Note may not be assigned or
transferred in whole or in part without the prior written consent of the
Borrower and of each other Lender, other than a transfer in whole to an entity
that controls, is controlled by, or is under common control with the Holder.

      3.    Default.

            (a)   In the event of a default under the terms of the Bridge Loan
Agreement (other than default in payment of any amount due under this Note)
which default is not cured within 30 Business Days after written notice by the
Holder to the Borrower (or such longer period as may be required to effectuate a
cure so long as a cure is being diligently pursued), the Holder may in its sole
discretion, upon notice to the Borrower given in the same manner as any notice
required under the Bridge Loan Agreement, raise the rate of interest accruing on
the unpaid principal balance of this Note to 8 percent (8%) per annum (the
"Default Rate"). Any judgment entered against the Borrower shall bear interest
at the Default Rate.

            (b)   Upon default in the payment of any amount due under this Note,
in addition to any other remedy the Holder may exercise, if the default in
payment is not cured by the Borrower within ten Business Days after notice, the
rate of interest accruing on the unpaid principal balance of the Note may, at
the Holder's option, be increased to the Default Rate.

      4.    Governing Law. This Note shall be governed in all respects by the
internal laws of the State of New York.

      5.    Other Agreements. This Note is subject to the additional terms and
conditions set forth in the Bridge Loan Agreement.

      6.    Invalidity of Terms. In case any one or more of the provisions
contained in this Note shall be invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions
of this Note shall in not way be affected or impaired thereby.

      7.    Business or Commercial Enterprise. The Borrower warrants and
represents that the loan evidenced by this Note was made solely for the purpose
of carrying on a business or commercial enterprise.

      8.    Waiver of Jury Trial. THE COMPANY AND, BY ACCEPTANCE OF THIS NOTE,
THE HOLDER EACH IRREVOCABLY WAIVE ANY AND ALL RIGHT THEY MAY HAVE TO A TRIAL BY
JURY IN ANY ACTION, PROCEEDING OR CLAIM OF ANY NATURE ARISING FROM OR RELATING
TO THIS NOTE, ANY DOCUMENTS EXECUTED IN CONNECTION HEREWITH (INCLUDING THE
BRIDGE LOAN AGREEMENT), ANY TRANSACTIONS CONTEMPLATED IN ANY OF SUCH DOCUMENTS.
THE PARTIES ACKNOWLEDGE THAT THE FOREGOING WAIVER IS KNOWING AND VOLUNTARY.

      9.    Submission to Jurisdiction. The Borrower, and by acceptance of this
Note, the Holder each (a) hereby irrevocably submits itself and consents to the
jurisdiction of the United States District Court for the State of New York
located in New York, New York, or the state courts of the State of New York
located in New York, New York, for the purpose of any suit, action or other

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proceeding in connection with this Note or any documents executed in connection
herewith (including the Bridge Loan Agreement) or to enforce a resolution,
settlement, order or award made regarding this Note or any other document
executed in connection herewith or transaction contemplated hereby, (b) hereby
irrevocably waives the right to commence any suit, action or other proceeding in
connection with this Note or any other documents executed in connection herewith
in any other jurisdiction (including any foreign jurisdiction) that might
otherwise be available by reason of their presence or other circumstances in
connection with this Note or any other documents executed in connection
herewith, and (c) to the extent permitted by applicable law, hereby waives, and
agrees not to assert, by way of motion, as a defense, or otherwise, in any such
suit, action or proceeding, any claim that it is not personally subject to the
jurisdiction of such court or that the suit, action or proceeding is improper.

      10.   Attorneys' Fees. The Borrower, and by acceptance of this Note, the
Holder each hereby agree that if any action at law or in equity is necessary to
enforce or interpret the terms of this Note or any document executed in
connection herewith, the prevailing party shall be entitled to reasonable
attorney's fees, costs and disbursements in addition to any other relief to
which such party is entitled.

      11.   Notices. The Borrower, and by acceptance of this Note, the Holder
each hereby agree that any and all notices or other communications or deliveries
provided for or permitted hereunder shall be made in writing and shall be deemed
to have been duly given or made for all purposes if sent by hand-delivery,
registered first-class mail, telex, telecopier, or courier guaranteeing
overnight delivery, as follows (or at such other address as shall have been
furnished in writing given in accordance with this provision):

      (a)   if to the Borrower, to:

            Daleen Technologies, Inc.
            902 Clint Moore Road, Suite 230
            Boca Raton, FL
            Attention: Legal Department
            Facsimile No. (561) 981-1106

            with a copy to:

            Kirkpatrick & Lockhart LLP
            Henry W. Oliver Building
            535 Smithfield Street
            Pittsburgh, Pennsylvania  15222-2312
            Attention:  Robert P. Zinn
            Facsimile No. (412) 355-6501

          (b) if to Holder, to:

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              ____________________
              Attention : _______________

              with a copy to:

      All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; five days after
being deposited in the mail, postage prepaid, if mailed; when answered back, if
telexed; when receipt is acknowledged, if telecopied; and on the next Business
Day if timely delivered to a courier guaranteeing overnight delivery.

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      IN WITNESS WHEREOF, the Borrower has caused this Note to be issued as of
the date below.

Dated: May 7, 2004.

DALEEN TECHNOLOGIES, INC.

By: _________________________________
Name: _______________________________
Title: ______________________________

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                                                                   EXHIBIT 10.16

                             SUBORDINATION AGREEMENT

      This Subordination Agreement (this "Agreement") dated as of May 7, 2004,
is by and among Behrman Capital II, L.P., a Delaware limited partnership
("Behrman"), Strategic Entrepreneur Fund II, L.P., a Delaware limited
partnership ("SEF" and collectively with Behrman, "Creditor"), and Silicon
Valley Bank (`Bank").

                                    RECITALS

      A.    Daleen Technologies, Inc. ("Borrower") has requested and/or obtained
credit from Bank which may be secured by its assets and property.

      B.    Creditor has extended credit to Borrower and/or may later extend
other credit to Borrower pursuant to the terms of a Subordinated Bridge Loan
Agreement dated May 7, 2004, in the form attached as Exhibit A (the
"Subordinated Bridge Loan Agreement"). The promissory notes under such
Subordinated Bridge Loan Agreement are subject to a Note Purchase Agreement of
even date herewith (the "Note Purchase Agreement") in the form attached as
Exhibit B, by and among Creditor and Daleen Holdings, Inc., a Delaware
corporation ("Newco").

      C.    To induce Bank to extend credit to Borrower and make further
extensions of credit to or for Borrower, or to purchase or extend credit
pursuant to any instrument or writing on which Borrower is liable or to grant
renewals or extensions of any loan, extension of credit, purchase, or other
accommodation Creditor will subordinate: (a) all of Borrower's indebtedness and
obligations to Creditor, existing now or later (but excluding (i) the facility
fees due upon signing of the Subordinated Bridge Loan Agreement dated May 7,
2004 among Borrower and Creditor, (ii) as required for the closing of the
Investment Agreement dated as of May 7, 2004 among Newco, Quadrangle Capital
Partners LP, Quadrangle Select Partners LP, Quadrangle Capital Partners-A LP,
and Behrman, and (iii) as required for the closing of the promissory notes
pursuant to the terms of the Note Purchase Agreement) (the foregoing being
called "Subordinated Debt") to all of Borrower's indebtedness and obligations to
Bank; and (b) all of Creditor's security interests, to all of Bank's security
interests in the Borrower's property.

THE PARTIES AGREE AS FOLLOWS:

      1.    Creditor subordinates to Bank any security interest or lien that it
has in any property of Borrower. Despite attachment or perfection dates of
Creditor's security interest and Bank's security interest, Bank's security
interest in the Collateral as defined in the Loan and Security Agreement by and
between the Borrower and the Bank dated February 24, 2004 (the "Loan Agreement")
and the Intellectual Property Security Agreement by and between the Borrower and
the Bank dated February 24, 2004 (the "IP Security Agreement" and collectively
with the Loan Agreement, the "Loan Agreement") is prior to Creditor's security
interest.

      2.    All Subordinated Debt payments are subordinated to all Borrower's
obligations to Bank existing now or later, together with collection costs of the
Obligations (including attorneys' fees), including, interest accruing after any
bankruptcy, reorganization or similar proceeding and all obligations under the
Loan Agreement (the "Senior Debt").

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      3.    Creditor will not:

            (a)   demand or receive from Borrower (and Borrower will not pay)
                  any part of the Subordinated Debt, by payment, prepayment, or
                  otherwise,

            (b)   exercise any remedy against the Collateral, or

            (c)   accelerate the Subordinated Debt, or begin to or participate
                  in any action against Borrower, until all the Senior Debt is
                  paid. This does not prohibit Creditor from converting any
                  Subordinated Debt into equity securities of Borrower.

It is acknowledged and agreed that the performance and consummation of the
obligations of the parties under the Note Purchase Agreement shall in no respect
be deemed to breach this or any other provision of this Agreement.

      4.    Creditor must deliver to Bank in the form received (except for
endorsement or assignment by Creditor) any payment, distribution, security or
proceeds it receives on the Subordinated Debt other than according to this
Agreement.

      5.    These provisions remain in full force and effect, despite Borrower's
insolvency, reorganization or any case or proceeding under any bankruptcy or
insolvency law, and Bank's claims against Borrower and Borrower's estate will be
fully paid before any payment is made to Creditor.

      6.    Until the Senior Debt is paid, Creditor irrevocably appoints Bank as
its attorney. in- fact, with power of attorney with power of substitution, in
Creditor's name or in Bank's name, for Bank's use and benefit without notice to
Creditor, to do the following in any bankruptcy, insolvency or similar
proceeding involving Borrower:

            (a)   File any claims for the Subordinated Debt for Creditor if
                  Creditor does not do so at least 30 days before the time to
                  file claims expires, and

            (b)   Accept or reject any plan of reorganization or arrangement for
                  Creditor and vote Creditor's claims in respect of the
                  Subordinated Debt in any way it chooses.

      7.    Creditor will immediately put a legend on the Subordinated Debt
instruments that the instruments are subject to this Agreement. No amendment of
the Subordinated Debt documents will modify this Agreement in any way that
terminates or impairs the subordination of the Subordinated Debt or the
subordination of the security interest or lien that Bank has in Borrower's
property. For example, instruments may not be amended to: (i) increase the
interest rate of the Subordinated Debt, or (ii) accelerate payment of principal
or interest or any other portion of the Subordinated Debt.

      8.    This Agreement is effective while Borrower owes any amounts to Bank.
If, after full payment of the Senior Debt, Bank must disgorge any payments made
on the Senior Debt for any reason (including, without limitation, the bankruptcy
of Borrower), this Agreement and the

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relative rights and priorities provided in it, will be reinstated as to all
disgorged payments as though the payments had not been made, and Creditor will
immediately pay Bank all payments received under the Subordinated Debt to the
extent the payments would have been prohibited under this Agreement. At any time
without notice to Creditor, Bank may take actions it considers appropriate on
the Senior Debt such as terminating advances, increasing the principal,
extending the time of payment, increasing interest rates, renewing, compromising
or otherwise amending any documents affecting the Senior Debt and any collateral
securing the Senior Debt, and enforcing or failing to enforce any rights against
Borrower or any other person. No action or inaction will impair or otherwise
affect Bank's rights under this Agreement.

      9.    Notwithstanding any other provision contained in this Agreement,
Bank agrees that the following actions shall not be subject to the terms of this
Agreement: (i) the payment by Borrower to Creditor of the facility fee due to
Creditor upon the execution of the Subordinated Bridge Loan Agreement pursuant
to Section 7.1(e) thereof, (ii) the release from escrow to Creditor of certain
securities of Borrower pursuant to Section 1.3 of the Subordinated Bridge Loan
Agreement and (iii) the transactions relating to the purchase by Creditor of
certain shares of capital stock of Newco that are expressly contemplated by
Sections 1, 2 and 3 of the Note Purchase Agreement and Sections 1 and 6.2 of the
Investment Agreement.

      10.   This Agreement binds Creditor, its successors or assigns, and
benefits Bank's successors or assigns. This Agreement is for Creditor's and
Bank's benefit and not for the benefit of Borrower or any other party. If
Borrower is refinancing any of the Senior Debt with a new lender, upon Bank's
request of creditor, Creditor will enter into a new subordination agreement with
the new lender on substantially the terms of this Agreement.

      11.   This Agreement may be executed in two or more counterparts, each of
which is an original and all of which together constitute one instrument.

      12.   Georgia law governs this Agreement without giving effect to
conflicts of laws principles. Creditor and Bank submit to the exclusive
jurisdiction of the State and Federal courts in the State of Georgia; provided,
however that if for any reason Bank can not avail itself of the courts of the
State of Georgia; Creditor submits to the jurisdiction of the State and Federal
courts in Santa Clara County, California. CREDITOR AND BANK EACH WAIVE THEIR
RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION FROM THIS AGREEMENT.

      13.   This Agreement represents is the entire agreement about this subject
matter, and supersedes prior negotiations or agreements. Creditor is not relying
on any representations by Bank or Borrower in entering into this Agreement.
Creditor will keep itself informed of Borrower's financial and other conditions.
This Agreement may be amended only by written instrument signed by Creditor and
Bank.

      14.   If there is an action to enforce the rights of a party under this
Agreement, the party prevailing will be entitled, in addition to other relief,
all reasonable costs and expenses, including reasonable attorneys' fees,
incurred in the action.

                       [SIGNATURES ON THE FOLLOWING PA GE]

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CREDITOR:                                         BANK:

BEHRMAN CAPITAL II, L.P.                          SILICON VALLEY BANK

By: /s/ Grant Behrman                             By: /s/ Steven J. DiPasquale
    ----------------------------------------         ---------------------------
    Name: Grant Behrman                              Name: Steven J. DiPasquale
    Title: Managing Member                           Title: Vice President

STRATEGIC ENTREPRENEUR FUND II, L.P.

By: /s/ Grant Behrman
    ---------------------------------------
    Name: Grant Behrman
    Title: General Partner

The Borrower approves the terms of this Agreement:

BORROWER:

DALEEN TECHNOLOGIES, INC.

By: /s/ Gordon Quick
    ---------------------------------------
    Name: Gordon Quick
    Title: President & CEO

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