Document:

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                                                                    EXHIBIT 10.5

                                LOUDCLOUD, INC.

                           INDEMNIFICATION AGREEMENT

     This Indemnification Agreement ("Agreement") is entered into as of
____________, ___ by and between Loudcloud, Inc., a Delaware corporation (the
"Company"), ____________________________________ ("Indemnitee").

                                    RECITALS
                                    --------

     A.   The Company and Indemnitee recognize the significant increases in the
cost of liability insurance for its directors, officers, employees, agents and
fiduciaries.

     B.   The Company and Indemnitee further recognize the substantial increase
in corporate litigation in general, subjecting directors, officers, employees,
agents and fiduciaries to expensive litigation risks at the same time as the
availability and coverage of liability insurance has been severely limited.

     C.   The Company recognizes that Indemnitee and other directors, officers,
employees, agents and fiduciaries of the Company may not be willing to continue
to serve in such capacities without additional protection.

     D.   The Company desires to attract and retain the services of highly
qualified individuals, such as Indemnitee, to serve the Company and, in part, in
order to induce Indemnitee to continue to provide services to the Company,
wishes to provide for the indemnification and advancing of expenses to
Indemnitee to the maximum extent permitted by law.

     E.   In view of the considerations set forth above, the Company desires
that Indemnitee be indemnified by the Company as set forth herein.

     NOW, THEREFORE, the Company and Indemnitee hereby agree as follows:

     1.   Indemnification.
          ---------------

          (a)  Indemnification of Expenses.  The Company shall indemnify
               ---------------------------
Indemnitee to the fullest extent permitted by law if Indemnitee was or is or
becomes a party to or witness or other participant in, or is threatened to be
made a party to or witness or other participant in, any threatened, pending or
completed action, suit, proceeding or alternative dispute resolution mechanism,
or any hearing, inquiry or investigation that Indemnitee in good faith believes
might lead to the institution of any such action, suit, proceeding or
alternative dispute resolution mechanism, whether civil, criminal,
administrative, investigative or other (hereinafter a "Claim") by reason of (or
arising in

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part out of) any event or occurrence related to the fact that Indemnitee is or
was a director, officer, employee, agent or fiduciary of the Company, or any
subsidiary of the Company, or is or was serving at the request of the Company as
a director, officer, employee, agent or fiduciary of another corporation,
partnership, joint venture, trust or other enterprise, or by reason of any
action or inaction on the part of Indemnitee while serving in such capacity
(hereinafter an "Indemnifiable Event") against any and all expenses (including
attorneys' fees and all other costs, expenses and obligations incurred in
connection with investigating, defending, being a witness in or participating in
(including on appeal), or preparing to defend, be a witness in or participate
in, any such action, suit, proceeding, alternative dispute resolution mechanism,
hearing, inquiry or investigation), judgments, fines, penalties and amounts paid
in settlement (if such settlement is approved in advance by the Company, which
approval shall not be unreasonably withheld) of such Claim and any federal,
state, local or foreign taxes imposed on Indemnitee as a result of the actual or
deemed receipt of any payments under this Agreement (collectively, hereinafter
"Expenses"), including all interest, assessments and other charges paid or
payable in connection with or in respect of such Expenses. Such payment of
Expenses shall be made by the Company as soon as practicable but in any event no
later than five business days after written demand by Indemnitee therefor is
presented to the Company, together with supporting invoices and receipts.

     (b)  Reviewing Party.  Notwithstanding the foregoing, (i) the obligations
          ---------------
of the Company under Section 1(a) shall be subject to the condition that the
Reviewing Party (as described in Section 10(e) hereof) shall not have determined
(in a written opinion, in any case in which the Independent Legal Counsel
referred to in Section 1(c) hereof is involved) that Indemnitee would not be
permitted to be indemnified under applicable law, and (ii) the obligation of the
Company to make an advance payment of Expenses to Indemnitee pursuant to Section
2(a) (an "Expense Advance") shall be subject to the condition that, if, when and
to the extent that the Reviewing Party determines that Indemnitee would not be
permitted to be so indemnified under applicable law, the Company shall be
entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse the
Company) for all such amounts theretofore paid; provided, however, that if
                                                --------  -------
Indemnitee has commenced or thereafter commences legal proceedings in a court of
competent jurisdiction to secure a determination that Indemnitee should be
indemnified under applicable law, any determination made by the Reviewing Party
that Indemnitee would not be permitted to be indemnified under applicable law
shall not be binding and Indemnitee shall not be required to reimburse the
Company for any Expense Advance until a final judicial determination is made
with respect thereto (as to which all rights of appeal therefrom have been
exhausted or lapsed). Indemnitees' obligation to reimburse the Company for any
Expense Advance shall be unsecured and no interest shall be charged thereon. If
there has not been a Change in Control (as defined in Section 10(c) hereof), the
Reviewing Party shall be selected by the Board of Directors, and if there has
been such a Change in Control (other than a Change in Control which has been
approved by a majority of the Company's Board of Directors who were directors
immediately prior to such Change in Control), the Reviewing Party shall be the
Independent Legal Counsel referred to in Section 1(c) hereof. If there has been
no determination by the Reviewing Party or if the Reviewing Party determines
that Indemnitee substantively would not be permitted to be indemnified in whole
or in part under applicable law, Indemnitee shall have the right to commence
litigation seeking an initial determination by the court

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or challenging any such determination by the Reviewing Party or any aspect
thereof, including the legal or factual bases therefor, and the Company hereby
consents to service of process and to appear in any such proceeding. Any
determination by the Reviewing Party otherwise shall be conclusive and binding
on the Company and Indemnitee.

          (c)  Change in Control.  The Company agrees that if there is a Change
               -----------------
in Control of the Company (other than a Change in Control which has been
approved by a majority of the Company's Board of Directors who were directors
immediately prior to such Change in Control) then, with respect to all matters
thereafter arising concerning the rights of Indemnitees to payments of Expenses
and Expense Advances under this Agreement or any other agreement or under the
Company's Certificate of Incorporation or Bylaws as now or hereafter in effect,
Independent Legal Counsel (as defined in Section 10(d) hereof) shall be selected
by Indemnitee and approved by the Company (which approval shall not be
unreasonably withheld). Such Independent Legal Counsel, among other things,
shall render its written opinion to the Company and Indemnitee as to whether and
to what extent Indemnitee would be permitted to be indemnified under applicable
law and the Company agrees to abide by such opinion. The Company agrees to pay
the reasonable fees of the Independent Legal Counsel referred to above and to
fully indemnify such counsel against any and all expenses (including attorneys'
fees), claims, liabilities and damages arising out of or relating to this
Agreement or its engagement pursuant hereto.

          (d)  Mandatory Payment of Expenses.  Notwithstanding any other
               -----------------------------
provision of this Agreement other than Section 9 hereof, to the extent that
Indemnitee has been successful on the merits or otherwise, including, without
limitation, the dismissal of an action without prejudice, in defense of any
action, suit, proceeding, inquiry or investigation referred to in Section (1)(a)
hereof or in the defense of any claim, issue or matter therein, Indemnitee shall
be indemnified against all Expenses incurred by Indemnitee in connection
therewith.

     2.   Expenses; Indemnification Procedure.
          -----------------------------------

          (a)  Advancement of Expenses.  The Company shall advance all Expenses
               -----------------------
incurred by Indemnitee. The advances to be made hereunder shall be paid by the
Company to Indemnitee as soon as practicable but in any event no later than five
business days after written demand by Indemnitee therefor to the Company,
together with supporting invoices and receipts.

          (b)  Notice/Cooperation by Indemnitee.  Indemnitee shall, as a
               --------------------------------
condition precedent to Indemnitees' right to be indemnified under this
Agreement, give the Company notice in writing as soon as practicable of any
Claim made against Indemnitee for which indemnification will or could be sought
under this Agreement. Notice to the Company shall be directed to the Chief
Executive Officer of the Company at the address shown on the signature page of
this Agreement (or such other address as the Company shall designate in writing
to Indemnitee). In addition, Indemnitee shall give the Company such information
and cooperation as it may reasonably require and as shall be within Indemnitees'
power.

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          (c)  No Presumptions; Burden of Proof.  For purposes of this
               --------------------------------
Agreement, the termination of any Claim by judgment, order, settlement (whether
with or without court approval) or conviction, or upon a plea of nolo
                                                                 ----
contendere, or its equivalent, shall not create a presumption that Indemnitee
-----------
did not meet any particular standard of conduct or have any particular belief or
that a court has determined that indemnification is not permitted by applicable
law. In addition, neither the failure of the Reviewing Party to have made a
determination as to whether Indemnitee has met any particular standard of
conduct or had any particular belief, nor an actual determination by the
Reviewing Party that Indemnitee has not met such standard of conduct or did not
have such belief, prior to the commencement of legal proceedings by Indemnitee
to secure a judicial determination that Indemnitee should be indemnified under
applicable law, shall be a defense to Indemnitee's claim or create a presumption
that Indemnitee has not met any particular standard of conduct or did not have
any particular belief. In connection with any determination by the Reviewing
Party or otherwise as to whether Indemnitee is entitled to be indemnified
hereunder, the burden of proof shall be on the Company to establish that
Indemnitee is not so entitled.

          (d)  Notice to Insurers.  If, at the time of the receipt by the
               ------------------
Company of a notice of a Claim pursuant to Section 2(b) hereof, the Company has
liability insurance in effect which may cover such Claim, the Company shall give
prompt notice of the commencement of such Claim to the insurers in accordance
with the procedures set forth in the respective policies. The Company shall
thereafter take all necessary or desirable action to cause such insurers to pay,
on behalf of Indemnitee, all amounts payable as a result of such action, suit,
proceeding, inquiry or investigation in accordance with the terms of such
policies.

          (e)  Selection of Counsel.  In the event the Company shall be
               --------------------
obligated hereunder to pay the Expenses of any Claim, the Company shall be
entitled to assume the defense of such Claim with counsel approved by
Indemnitee, which approval shall not be unreasonably withheld, upon the delivery
to Indemnitee of written notice of its election so to do. After delivery of such
notice, approval of such counsel by Indemnitee and the retention of such counsel
by the Company, the Company will not be liable to Indemnitee under this
Agreement for any fees of counsel subsequently incurred by Indemnitee with
respect to the same Claim; provided that, (i) Indemnitee shall have the right to
                           --------
employ Indemnitee's counsel in any such Claim at Indemnitee's expense and (ii)
if (A) the employment of counsel by Indemnitee has been previously authorized by
the Company, (B) Indemnitee shall have reasonably concluded that there is a
conflict of interest between the Company and Indemnitee in the conduct of any
such defense, or (C) the Company shall not continue to retain such counsel to
defend such Claim, then the fees and expenses of Indemnitee counsel shall be at
the expense of the Company. The Company shall have the right to conduct such
defense as it sees fit in its sole discretion, including the right to settle any
claim against Indemnitee without the consent of Indemnitee.

     3.   Additional Indemnification Rights; Nonexclusivity.
          -------------------------------------------------

          (a)  Scope.  The Company hereby agrees to indemnify Indemnitee to the
               -----
fullest extent permitted by law, notwithstanding that such indemnification is
not specifically authorized by

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the other provisions of this Agreement, the Company's Certificate of
Incorporation, the Company's Bylaws or by statute. In the event of any change
after the date of this Agreement in any applicable law, statute or rule which
expands the right of a Delaware corporation to indemnify a member of its Board
of Directors or an officer, employee, agent or fiduciary, it is the intent of
the parties hereto that Indemnitee shall enjoy by this Agreement the greater
benefits afforded by such change. In the event of any change in any applicable
law, statute or rule which narrows the right of a Delaware corporation to
indemnify a member of its Board of Directors or an officer, employee, agent or
fiduciary, such change, to the extent not otherwise required by such law,
statute or rule to be applied to this Agreement, shall have no effect on this
Agreement or the parties' rights and obligations hereunder except as set forth
in Section 8(a) hereof.

          (b)  Nonexclusivity.  The indemnification provided by this Agreement
               --------------
shall be in addition to any rights to which Indemnitee may be entitled under the
Company's Certificate of Incorporation, its Bylaws, any agreement, any vote of
stockholders or disinterested directors, the General Corporation Law of the
State of Delaware, or otherwise. The indemnification provided under this
Agreement shall continue as to Indemnitee for any action Indemnitee took or did
not take while serving in an indemnified capacity even though Indemnitee may
have ceased to serve in such capacity.

     4.   No Duplication of Payments.  The Company shall not be liable under
          --------------------------
this Agreement to make any payment in connection with any Claim made against
Indemnitee to the extent Indemnitee has otherwise actually received payment
(under any insurance policy, Certificate of Incorporation, Bylaw or otherwise)
of the amounts otherwise indemnifiable hereunder.

     5.   Partial Indemnification.  If Indemnitee is entitled under any
          -----------------------
provision of this Agreement to indemnification by the Company for some or a
portion of Expenses incurred in connection with any Claim, but not, however, for
all of the total amount thereof, the Company shall nevertheless indemnify
Indemnitee for the portion of such Expenses to which Indemnitee is entitled.

     6.   Mutual Acknowledgement.  Both the Company and Indemnitee acknowledge
          ----------------------
that in certain instances, Federal law or applicable public policy may prohibit
the Company from indemnifying its directors, officers, employees, agents or
fiduciaries under this Agreement or otherwise. Indemnitee understands and
acknowledges that the Company has undertaken or may be required in the future to
undertake with the Securities and Exchange Commission to submit the question of
indemnification to a court in certain circumstances for a determination of the
Company's right under public policy to indemnify Indemnitee.

     7.   Liability Insurance.  To the extent the Company maintains liability
          -------------------
insurance applicable to directors, officers, employees, agents or fiduciaries,
Indemnitee shall be covered by such policies in such a manner as to provide
Indemnitee the same rights and benefits as are accorded to the most favorably
insured of the Company's directors, if Indemnitee is a director; or of the
Company's officers, if Indemnitee is not a director of the Company but is an
officer; or of the

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Company's key employees, agents or fiduciaries, if Indemnitee is not an officer
or director but is a key employee, agent or fiduciary.

     8.   Exceptions.  Any other provision herein to the contrary
          ----------
notwithstanding, the Company shall not be obligated pursuant to the terms of
this Agreement:

          (a)  Excluded Action or Omissions.  (i) To indemnify Indemnitee for
               ----------------------------
Indemnitee's acts, omissions or transactions from which Indemnitee may not be
indemnified under applicable law; or (ii) to indemnify Indemnitee for expenses
or liabilities arising from Indemnitee being convicted of a felony or committing
an act of dishonesty or fraud against, or the misappropriation of material
property belonging to, the Company or its affiliates;

          (b)  Claims Initiated by Indemnitee.  To indemnify or advance expenses
               ------------------------------
to Indemnitee with respect to Claims initiated or brought voluntarily by
Indemnitee and not by way of defense, except (i) with respect to actions or
proceedings brought to establish or enforce a right to indemnification under
this Agreement or any other agreement or insurance policy or under the Company's
Certificate of Incorporation or Bylaws now or hereafter in effect relating to
Claims for Indemnifiable Events, (ii) in specific cases if the Board of
Directors has approved the initiation or bringing of such Claim, or (iii) as
otherwise required under Section 145 of the Delaware General Corporation Law,
regardless of whether Indemnitee ultimately is determined to be entitled to such
indemnification, advance expense payment or insurance recovery, as the case may
be;

          (c)  Lack of Good Faith.  To indemnify Indemnitee for any expenses
               ------------------
incurred by Indemnitee with respect to any proceeding instituted by Indemnitee
to enforce or interpret this Agreement, if a court of competent jurisdiction
determines that each of the material assertions made by Indemnitee in such
proceeding was not made in good faith or was frivolous; or

          (d)  Claims Under Section 16(b).  To indemnify Indemnitee for expenses
               --------------------------
and the payment of profits arising from the purchase and sale by Indemnitee of
securities in violation of Section 16(b) of the Securities Exchange Act of 1934,
as amended, or any similar successor statute.

     9.   Period of Limitations.  No legal action shall be brought and no cause
          ---------------------
of action shall be asserted by or in the right of the Company against
Indemnitee, Indemnitee's estate, spouse, heirs, executors or personal or legal
representatives after the expiration of two years from the date of accrual of
such cause of action, and any claim or cause of action of the Company shall be
extinguished and deemed released unless asserted by the timely filing of a legal
action within such two-year period; provided, however, that if any shorter
                                    --------  -------
period of limitations is otherwise applicable to any such cause of action, such
shorter period shall govern.

     10.  Construction of Certain Phrases.
          -------------------------------

          (a)  For purposes of this Agreement, references to the "Company" shall
include, in addition to the resulting corporation, any constituent corporation
(including any constituent of a con-

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stituent) absorbed in a consolidation or merger which, if its separate existence
had continued, would have had power and authority to indemnify its directors,
officers, employees, agents or fiduciaries, so that if Indemnitee is or was a
director, officer, employee, agent or fiduciary of such constituent corporation,
or is or was serving at the request of such constituent corporation as a
director, officer, employee, agent or fiduciary of another corporation,
partnership, joint venture, employee benefit plan, trust or other enterprise,
Indemnitee shall stand in the same position under the provisions of this
Agreement with respect to the resulting or surviving corporation as Indemnitee
would have with respect to such constituent corporation if its separate
existence had continued.

          (b)  For purposes of this Agreement, references to "other enterprises"
shall include employee benefit plans; references to "fines" shall include any
excise taxes assessed on Indemnitee with respect to an employee benefit plan;
and references to "serving at the request of the Company" shall include any
service as a director, officer, employee, agent or fiduciary of the Company
which imposes duties on, or involves services by, such director, officer,
employee, agent or fiduciary with respect to an employee benefit plan, its
participants or its beneficiaries; and if Indemnitee acted in good faith and in
a manner Indemnitee reasonably believed to be in the interest of the
participants and beneficiaries of an employee benefit plan, Indemnitee shall be
deemed to have acted in a manner "not opposed to the best interests of the
Company" as referred to in this Agreement.

          (c)  For purposes of this Agreement a "Change in Control" shall be
deemed to have occurred if (i) any "person" (as such term is used in Sections
13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), other than
a trustee or other fiduciary holding securities under an employee benefit plan
of the Company or a corporation owned directly or indirectly by the stockholders
of the Company in substantially the same proportions as their ownership of stock
of the Company, (A) who is or becomes the beneficial owner, directly or
indirectly, of securities of the Company representing 10% or more of the
combined voting power of the Company's then outstanding Voting Securities,
increases his beneficial ownership of such securities by 5% or more over the
percentage so owned by such person, or (B) becomes the "beneficial owner" (as
defined in Rule 13d-3 under said Act), directly or indirectly, of securities of
the Company representing more than 20% of the total voting power represented by
the Company's then outstanding Voting Securities, (ii) during any period of two
consecutive years, individuals who at the beginning of such period constitute
the Board of Directors of the Company and any new director whose election by the
Board of Directors or nomination for election by the Company's stockholders was
approved by a vote of at least two-thirds of the directors then still in office
who either were directors at the beginning of the period or whose election or
nomination for election was previously so approved, cease for any reason to
constitute a majority thereof, or (iii) the stockholders of the Company approve
a merger or consolidation of the Company with any other corporation other than a
merger or consolidation which would result in the Voting Securities of the
Company outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into Voting Securities of the
surviving entity) at least 80% of the total voting power represented by the
Voting Securities of the Company or such surviving entity outstanding
immediately after such merger or consolidation, or the stockholders of the
Company approve a plan of complete liquidation

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of the Company or an agreement for the sale or disposition by the Company of (in
one transaction or a series of transactions) all or substantially all of the
Company's assets.

          (d)  For purposes of this Agreement, "Independent Legal Counsel" shall
mean an attorney or firm of attorneys, selected in accordance with the
provisions of Section 1(c) hereof, who shall not have otherwise performed
services for the Company or Indemnitee within the last three years (other than
with respect to matters concerning the rights of Indemnitee under this
Agreement, or of other indemnitees under similar indemnity agreements).

          (e)  For purposes of this Agreement, a "Reviewing Party" shall mean
any appropriate person or body consisting of a member or members of the
Company's Board of Directors or any other person or body appointed by the Board
of Directors who is not a party to the particular Claim for which Indemnitee are
seeking indemnification, or Independent Legal Counsel.

          (f)  For purposes of this Agreement, "Voting Securities" shall mean
any securities of the Company that vote generally in the election of directors.

     11.  Counterparts.  This Agreement may be executed in one or more
          ------------
counterparts, each of which shall constitute an original.

     12.  Binding Effect; Successors and Assigns.  This Agreement shall be
          --------------------------------------
binding upon and inure to the benefit of and be enforceable by the parties
hereto and their respective successors, assigns, including any direct or
indirect successor by purchase, merger, consolidation or otherwise to all or
substantially all of the business and/or assets of the Company, spouses, heirs,
and personal and legal representatives. The Company shall require and cause any
successor (whether direct or indirect by purchase, merger, consolidation or
otherwise) to all, substantially all, or a substantial part, of the business
and/or assets of the Company, by written agreement in form and substance
satisfactory to Indemnitee, expressly to assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be
required to perform if no such succession had taken place. This Agreement shall
continue in effect with respect to Claims relating to Indemnifiable Events
regardless of whether Indemnitee continues to serve as a director, officer,
employee, agent or fiduciary of the Company or of any other enterprise at the
Company's request.

     13.  Attorneys' Fees.  In the event that any action is instituted by
          ---------------
Indemnitee under this Agreement or under any liability insurance policies
maintained by the Company to enforce or interpret any of the terms hereof or
thereof, Indemnitee shall be entitled to be paid all Expenses incurred by
Indemnitee with respect to such action, regardless of whether Indemnitee is
ultimately successful in such action, and shall be entitled to the advancement
of Expenses with respect to such action, unless, as a part of such action, a
court of competent jurisdiction over such action determines that each of the
material assertions made by Indemnitee as a basis for such action was not made
in good faith or was frivolous. In the event of an action instituted by or in
the name of the Company under this Agreement to enforce or interpret any of the
terms of this Agreement, Indemnitee shall be entitled to be paid all Expenses
incurred by Indemnitee in defense of such action (including costs and

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expenses incurred with respect to Indemnitee counterclaims and cross-claims made
in such action), and shall be entitled to the advancement of Expenses with
respect to such action, unless, as a part of such action, a court having
jurisdiction over such action determines that each of Indemnitee material
defenses to such action was made in bad faith or was frivolous.

     14.  Notice.  All notices and other communications required or permitted
          ------
hereunder shall be in writing, shall be effective when given, and shall in any
event be deemed to be given (a) five (5) days after deposit with the U.S. Postal
Service or other applicable postal service, if delivered by first class mail,
postage prepaid, (b) upon delivery, if delivered by hand, (c) one business day
after the business day of deposit with Federal Express or similar overnight
courier, freight prepaid, or (d) one day after the business day of delivery by
facsimile transmission, if delivered by facsimile transmission, with copy by
first class mail, postage prepaid, and shall be addressed if to Indemnitee, at
the Indemnitee address as set forth beneath Indemnitee signatures to this
Agreement and if to the Company at the address of its principal corporate
offices (attention:  Secretary) or at such other address as such party may
designate by ten days' advance written notice to the other party hereto.

     15.  Consent to Jurisdiction.  The Company and Indemnitee each hereby
          -----------------------
irrevocably consent to the jurisdiction of the courts of the State of Delaware
for all purposes in connection with any action or proceeding which arises out of
or relates to this Agreement and agree that any action instituted under this
Agreement shall be commenced, prosecuted and continued only in the Court of
Chancery of the State of Delaware in and for New Castle County, which shall be
the exclusive and only proper forum for adjudicating such a claim.

     16.  Severability.  The provisions of this Agreement shall be severable
          ------------
in the event that any of the provisions hereof (including any provision within a
single section, paragraph or sentence) are held by a court of competent
jurisdiction to be invalid, void or otherwise unenforceable, and the remaining
provisions shall remain enforceable to the fullest extent permitted by law.
Furthermore, to the fullest extent possible, the provisions of this Agreement
(including, without limitations, each portion of this Agreement containing any
provision held to be invalid, void or otherwise unenforceable, that is not
itself invalid, void or unenforceable) shall be construed so as to give effect
to the intent manifested by the provision held invalid, illegal or
unenforceable.

     17.  Choice of Law.  This Agreement shall be governed by and its provisions
          -------------
construed and enforced in accordance with the laws of the State of Delaware, as
applied to contracts between Delaware residents, entered into and to be
performed entirely within the State of Delaware, without regard to the conflict
of laws principles thereof.

     18.  Subrogation.  In the event of payment under this Agreement, the
          -----------
Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee who shall execute all documents required and shall do
all acts that may be necessary to secure such rights and to enable the Company
effectively to bring suit to enforce such rights.

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<PAGE>

     19.  Amendment and Termination.  No amendment, modification, termination or
          -------------------------
cancellation of this Agreement shall be effective unless it is in writing signed
by both the parties hereto.  No waiver of any of the provisions of this
Agreement shall be deemed or shall constitute a waiver of any other provisions
hereof (whether or not similar) nor shall such waiver constitute a continuing
waiver.

     20.  Integration and Entire Agreement.  This Agreement sets forth the
          --------------------------------
entire understanding between the parties hereto and supersedes and merges all
previous written and oral negotiations, commitments, understandings and
agreements relating to the subject matter hereof between the parties hereto.

     21.  No Construction as Employment Agreement.  Nothing contained in this
          ---------------------------------------
Agreement shall be construed as giving Indemnitee any right to be retained in
the employ of the Company or any of its subsidiaries.

     [Remainder of page intentionally left blank; signature page follows
                            immediately hereafter]

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     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first above written.

                                        LOUDCLOUD, INC.

                                        ________________________________________
                                        By:
                                        ________________________________________
                                        Title:

                                        Address:  599 N. Mathilda Avenue

                                                  Sunnyvale, CA 94086

AGREED TO AND ACCEPTED BY:

Signature:________________________

Name:     ________________________

Address:  ________________________

          ________________________

                                      -11-<PAGE>

                                                                    EXHIBIT 4.10

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE SECURITIES LAWS OF ANY STATE.
THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND
MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND THE
APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION
THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN
FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED
TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE
SECURITIES LAWS.

                            PLUMTREE SOFTWARE, INC.

               Warrant for the Purchase of Shares of Common Stock

No. WS-3                                                            8,639 Shares

     FOR VALUE RECEIVED, Plumtree Software, Inc., a California corporation (the
"Company"), with its principal office at 500 Sansome Street, San Francisco,
California 94111, hereby certifies that WXI/SAN Realty, L.L.C. or its registered
assigns (the "Holder") is entitled, subject to the provisions of this Warrant,
to purchase from the Company, the number of fully paid and nonassessable shares
of Common Stock of the Company set forth above.

     This Warrant shall be exercisable, in whole or in part, at any time or from
time to time after the date hereof and on or before 5:00 p.m. Pacific Time on
December 31, 2006.

     The Holder may purchase the above number of shares of Common Stock at a
purchase price per share (as appropriately adjusted pursuant to Section 6
hereof) of nine dollars and sixty cents ($9.60) (the "Exercise Price").  The
term "Common Stock" shall mean the aforementioned Common Stock of the Company,
together with any other equity securities that may be issued by the Company in
addition thereto or in substitution therefor as provided herein.

     The number of shares of Common Stock to be received upon the exercise of
this Warrant and the price to be paid for a share of Common Stock are subject
to adjustment from time to time as hereinafter set forth.  The shares of Common
Stock deliverable upon such exercise, as adjusted from time to time, are
hereinafter sometimes referred to as "Warrant Shares".

     This Warrant is subject to all the provisions of that certain Warrant
Agreement between Holder and the Company, dated September 20, 2000 (the
"Agreement"), pursuant to which this Warrant was issued.

     Exercise of Warrant
     -------------------

          (a)  This Warrant may be exercised at any time at or before 5:00 P.M.,
Pacific time on December 31, 2006 (the "Expiration Date") (or, if such day is
not a business day, at or before 5:00 P.M., Pacific time, on the next following
business day). The Company shall give the Holder written notice of the Holder's
right to exercise this Warrant not more than ninety (90)

                                      -1-
<PAGE>

days and not less than thirty (30) days before the Expiration Date (the
"Expiration Notice"). If the Expiration Notice is not so given, the Expiration
Date shall automatically be extended until thirty (30) days after the Company
delivers the Expiration Notice to the Holder. If (i) the Holder fails to provide
written notice to the Company of its intention not to exercise this Warrant;
(ii) as of the Expiration Date, the Fair Market Value (as defined below) of one
share of Common Stock (as determined in accordance with Section 1(b) below) is
greater than the Exercise Price; and (iii) this Warrant is not exercised on or
before the Expiration Date, as the same may be extended pursuant hereto, this
Warrant shall be deemed to have been exercised pursuant to Section 1(b) below as
of the Expiration Date.

          Subject to the provisions set forth above, this Warrant may be
exercised in whole or in part by presentation and surrender hereof to the
Company at its principal office at the address set forth in the initial
paragraph hereof (or at such other address as the Company may hereafter notify
the Holder in writing) with the Purchase Form annexed hereto duly executed and
accompanied by proper payment of the Exercise Price (i) in lawful money of the
United States of America in the form of a certified or cashier's check (ii) by
cancellation by the Holder of indebtedness or other obligation of the Company to
the Holder, or (iii) by a combination of (i) and (ii), for the number of Warrant
Shares specified in the Purchase Form.  If this Warrant should be exercised in
part only, the Company shall, upon surrender of this Warrant, execute and
deliver a new Warrant evidencing the rights of the Holder thereof to purchase
the balance of the Warrant Shares purchasable hereunder.  Upon receipt by the
Company of this Warrant and such Purchase Form, together with proper payment of
the Exercise Price, at such office, the Holder shall be deemed to be the holder
of record of the Warrant Shares, notwithstanding that the stock transfer books
of the Company shall then be closed or that certificates representing such
Warrant Shares shall not then be actually delivered to the Holder.  The Company
shall pay any and all documentary stamp or similar issue or transfer taxes
payable in respect of the issue or delivery of the Warrant Shares.

          (b)  Notwithstanding the foregoing, upon such exercise pursuant to
Section 1(a), in lieu of payment of the Exercise Price, the Holder may instead
elect to receive that number of shares of Common Stock of the Company equal to
the quotient obtained by dividing [(A-B)(C)] by A, where:

          (A)  =  the Fair Market Value (as defined below) of one share of
                  Common Stock on the date of exercise of this Warrant;

          (B)  =  the Exercise Price for one share of Common Stock under this
                  Warrant (as adjusted to the date of such calculation); and

          (C)  =  the number of shares of Common Stock issuable upon exercise of
                  this Warrant or, if only a portion of the Warrant is being
                  exercised, the portion of the Warrant being canceled (at the
                  date of such calculation).

If the above calculation results in a negative number, then no shares of Common
Stock shall be issued or issuable upon exercise of this Warrant pursuant to this
Section 1(b).

                                      -2-
<PAGE>

     For purposes hereof, "Fair Market Value" of a share of Common Stock  shall
mean:

              (A)  where there exists a public market for the Company's Common
Stock at the time of such exercise, the fair market value per share of Common
Stock shall be the average of the closing bid and asked prices of the Common
Stock quoted in the Over-The-Counter Market Summary or the last reported sale
price of the Common Stock or the closing sale price quoted on the NASDAQ
National Market System or on any exchange on which the Common Stock is listed,
whichever is applicable. Notwithstanding the forgoing, in the event the Warrant
is exercised in connection with the Company's initial public offering of Common
Stock ("IPO"), the fair market value per share shall be the per share initial
offering price to the public of the Company's IPO, or

             (B)  in all other cases, the fair market value as determined in
good faith by the Company's Board of Directors and communicated in writing to
Holder upon Holder's written request, unless prior to such date the Company has
become subject to a reorganization, merger, acquisition or other consolidation
pursuant to which the Company is not the surviving party, in which case the Fair
Market Value shall be deemed to be the value received by the holders for each
Warrant Share pursuant to the Company's merger, acquisition or consolidation.

     Upon exercise of this Warrant pursuant to this Section 1(b), the
registered holder hereof shall be entitled to receive a certificate for the
number of shares of Common Stock  determined as aforesaid within a reasonable
time not to exceed 20 days after exercise of the stock purchase rights
represented by this Warrant.

     Section 2.  Reservation of Shares.  The Company hereby agrees that at all
                 ---------------------
times there shall be reserved for issuance and delivery upon exercise of this
Warrant all shares of its Common Stock or other shares of capital stock of the
Company from time to time issuable upon exercise of this Warrant. All such
shares shall be duly authorized and, when issued upon such exercise in
accordance with the terms of this Warrant, shall be validly issued, fully paid
and nonassessable, free and clear of all liens, security interests, charges and
other encumbrances or restrictions on sale (other than as provided in the
Company's articles of incorporation and any restrictions on sale set forth
herein or pursuant to applicable federal and state securities laws) and free and
clear of all preemptive rights.

     Section 3.  Fractional Interest.  The Company will not issue a fractional
                 -------------------
share of Common Stock upon exercise of a Warrant. Instead, the Company will
deliver its check for the Fair Market Value of such fraction of a share, rounded
to the nearest cent.

     Section 4. Assignment or Loss of Warrant.
                -----------------------------

           (a)  Except as otherwise provided herein, the Holder of this Warrant
shall not be entitled, without obtaining the consent of the Company, to assign
its interest in this Warrant in whole or in part to any person or persons;
provided, however, that this warrant may be assigned without the Company's
consent (i) to any direct or indirect partner, member, parent, subsidiary or
affiliate of Warrant Holder, and (ii) to any successors or assigns in connection
with any merger, sale of assets, reorganization, or similar event or to an
affiliate of such assignee or successor in compliance with the provisions of
Section 8. Subject to the provisions of Section 8, and the

                                      -3-
<PAGE>

obtaining of such consent of the Company, where required, upon surrender of this
Warrant to the Company or at the office of its stock transfer agent or warrant
agent, with the Assignment Form annexed hereto duly executed and funds
sufficient to pay any transfer tax, the Company shall, without charge, execute
and deliver a new Warrant or Warrants in the name of the assignee or assignees
named in such instrument of assignment and, if the Holders entire interest is
not being assigned, in the name of the Holder, and this Warrant shall promptly
be canceled.

          (b)  Upon receipt of evidence satisfactory to the Company of the loss,
theft, destruction or mutilation of this Warrant, and (in the case of loss,
theft or destruction) of indemnification reasonably satisfactory to the Company
(but without the requirement of a bond), and upon surrender and cancellation of
this Warrant, if mutilated, the Company shall execute and deliver a new Warrant
of like tenor and date.

     Section 5.  Rights of the Holder.  The Holder shall not, by virtue hereof,
                 --------------------
be entitled to any rights of a shareholder in the Company, either at law or
equity, and the rights of the Holder are limited to those expressed in this
Warrant. Nothing contained in this Warrant shall be construed as conferring upon
the Holder hereof the right to vote or to consent or to receive notice as a
shareholder of the Company on any matters or any rights whatsoever as a
shareholder of the Company. No dividends or interest shall be payable or accrued
in respect of this Warrant or the interest represented hereby or the Warrant
Shares purchasable hereunder until, and only to the extent that, this Warrant
shall have been exercised in accordance with its terms.

     Section 6.  Adjustment of Exercise Price and Number of Shares.  The number
                 -------------------------------------------------
and kind of securities purchasable upon the exercise of each Warrant and the
Exercise Price shall be subject to adjustment from time to time upon the
happening of certain events, as follows:

          (a)  Adjustment for Change in Capital Stock.  If the Company:
               --------------------------------------

               (A)  pays a dividend or makes a distribution on its Common Stock
in shares of its Common Stock;

               (B)  subdivides its outstanding shares of Common Stock into
greater number of shares;

               (C)  combines its outstanding shares of Common Stock into a
smaller number of shares;

               (D)  makes a distribution on its Common Stock in shares of its
capital stock other than Common Stock; or

               (E)  issues by reclassification of its Common Stock any shares of
its capital stock;

then the exercise right and the Exercise Price in effect immediately prior to
such action shall be adjusted so that the Holder may receive upon exercise of
the Warrants the number of shares of capital stock of the Company which the
Holder would have owned immediately following such action if the Holder had
exercised the Warrants immediately prior to such action.  When any adjustment is
required to be made in the Exercise Price, the number of Warrant Shares
receivable

                                      -4-
<PAGE>

upon the exercise of this Warrant shall be changed to the number determined by
dividing (a) an amount equal to the number of Warrant Shares issuable upon the
exercise of this Warrant immediately prior to such adjustment, multiplied by the
Exercise Price in effect immediately prior to such adjustment, by (b) the
Exercise Price in effect immediately after such adjustment.

     The adjustment shall become effective immediately after the record date in
the case of a dividend or distribution and immediately after the effective date
in the case of a subdivision, combination or reclassification.

          (b)  Notice of Adjustments.  Whenever the Exercise Price or number of
               ---------------------
Warrant Shares issuable upon exercise hereof shall be adjusted pursuant to this
section, the Company shall issue a certificate signed by the secretary of the
Company setting forth, in reasonable detail, the event requiring the adjustment,
the amount of the adjustment, the method by which such adjustment was calculated
and the Exercise Price and number of Warrant Shares purchasable hereunder after
giving effect to such adjustment, and shall cause a copy of such certificate to
be mailed to the holder of this Warrant.

          (c)  Deferral of Issuance or Payment.  In any case in which an event
               -------------------------------
covered by this Section 6 shall require that an adjustment in the Exercise Price
be made effective as of a record date, the Company may elect to defer until the
occurrence of such event (i) issuing to the Holder, if this Warrant is exercised
after such record date, the shares of Common Stock and other capital stock of
the Company, if any, issuable upon such exercise over and above the shares of
Common Stock or other capital stock of the Company, if any, issuable upon such
exercise on the basis of the Exercise Price in effect prior to such adjustment,
and (ii) paying to the Holder by check any amount in lieu of the issuance of
fractional shares pursuant to Section 3.

          (d)  When No Adjustment Required.  No adjustment need be made for a
               ---------------------------
change in the par value or no par value of the Common Stock.

          (e)  Notice of Certain Actions.  In the event that
               -------------------------

               (A)  the Company shall authorize the issuance to all holders of
its Common Stock of rights, warrants, options or convertible securities to
subscribe for or purchase shares of its Common Stock or of any other
subscription rights, warrants, options or convertible securities; or

               (B)  the Company shall authorize the distribution to all holders
of its Common Stock of evidences of its indebtedness or assets (other than
dividends paid in or distributions of the Company's capital stock for which the
Exercise Price shall have been adjusted pursuant to subsection (a) of this
Section 6 or regular cash dividends or distributions payable out of earnings or
earned surplus and made in the ordinary course of business); or

               (C)  the Company shall authorize any capital reorganization or
reclassification of the Common Stock (other than a subdivision or combination of
the outstanding Common Stock and other than a change in par value of the Common
Stock ) or of any consolidation or merger to which the Company is a party and
for which approval of any stockholders of the Company is required (other than a
consolidation or merger in which the Company is the continuing corporation and
that does not result in any reclassification or change

                                      -5-
<PAGE>

of the capital stock outstanding), or of the conveyance or transfer of the
properties and assets of the Company as an entirety or substantially as an
entirety; or

               (D)  the Company is the subject of a voluntary or involuntary
dissolution, liquidation or winding-up procedure;

               (E)  the Company proposes to take any action (other than actions
of the character described in subsection (a) or (b) of this Section 6) that
would require an adjustment of the Exercise Price pursuant to this Section 6; or

               (F)  the Company has filed a registration statement relating to
an initial public offering of its Common Stock;

then the Company shall cause to be mailed by first-class mail to the Holder, at
least twenty (20) days prior to the applicable record or effective date
hereinafter specified, a notice stating (x) the date as of which the holders of
Common Stock of record to be entitled to receive any such rights, warrants or
distributions are to be determined, or (y) the date on which any such
consolidation, merger, conveyance, transfer, dissolution, liquidation or
winding-up is expected to become effective, and the date as of which it is
expected that holders of Common Stock of record shall be entitled to exchange
their shares of for securities or other property, if any, deliverable upon such
reorganization, reclassification, consolidation, merger, conveyance, transfer,
dissolution, liquidation or winding-up.

          (f)  Common Stock Defined.  Whenever reference is made in this Section
               --------------------
6 to the issue of shares of Common Stock, the term "Common Stock" shall include
any equity securities of any class of the Company hereinafter authorized which
shall not be limited to a fixed sum or percentage in respect of the right of the
holders thereof to participate in dividends or distributions of assets upon the
voluntary or involuntary liquidation, dissolution or winding-up of the Company.
However, subject to the provisions of Section 7 hereof, shares issuable upon
exercise hereof shall include only shares of the class designated as Common
Stock of the Company as of the date hereof or shares of any class or classes
resulting from any reclassification or reclassifications thereof or as a result
of any corporate reorganization as provided for in Section 7 hereof.

          (g)  No Adjustment Upon Exercise of Warrants.  No adjustments shall be
               ---------------------------------------
made under any Section herein in connection with the issuance of Warrant Shares
upon exercise of the Warrants.

     Section 7.  Reclassification, Reorganization, Consolidation or Merger.
                 ---------------------------------------------------------

          In the event of any reclassification, capital reorganization or other
change of outstanding shares of Common Stock of the Company (other than a
subdivision or combination of the outstanding Common Stock and other than a
change in the par value of the Common Stock) or in the event of any
consolidation or merger of the Company with or into another corporation (other
than a merger in which merger the Company is the continuing corporation and that
does not result in any reclassification, capital reorganization or other change
of outstanding shares of capital stock of the class issuable upon exercise of
this Warrant) or in the event of any sale, lease, transfer or conveyance to
another corporation of the property and assets of the

                                      -6-
<PAGE>

Company as an entirety or substantially as an entirety, the Company shall, as a
condition precedent to such transaction, cause effective provisions to be made
so that the Holder shall have the right thereafter, by exercising this Warrant,
to purchase the kind and amount of shares of stock and other securities and
property (including cash) receivable upon such reclassification, capital
reorganization and other change, consolidation, merger, sale or conveyance by a
holder of the number of shares of Common Stock that might have been received
upon exercise of this Warrant immediately prior to such reclassification,
capital reorganization, change, consolidation, merger, sale or conveyance, and
the successor or purchasing corporation or other entity in such
reclassification, change, reorganization, consolidation, merger or conveyance
(if not the Company) shall duly execute and deliver to Warrant Holder a
supplement hereto acknowledging such corporation's or entity's obligations under
the Warrants; and in each such case, the terms of the Warrants (including the
exercisability, transfer and adjustment provisions of the Warrants) shall be
applicable to the shares of stock or other securities or property receivable
upon the exercise of the Warrants after the consummation of such
reclassification, change, reorganization, consolidation, merger or conveyance.
Any such provision shall include provisions for adjustments in respect of such
shares of stock and other securities and property that shall be as nearly
equivalent as may be practicable to the adjustments provided for in this
Warrant. The foregoing provisions of this Section 7 shall similarly apply to
successive reclassifications, capital reorganizations and changes of shares of
Common Stock and to successive consolidations, mergers, sales or conveyances.

     Section 8.  Transfer to Comply with the Securities Act of 1933.  This
                 --------------------------------------------------
Warrant may not be exercised and neither this Warrant nor any of the Warrant
Shares, nor any interest in either, may be sold, assigned, pledged,
hypothecated, encumbered or in any other manner transferred or disposed of, in
whole or in part, except in compliance with applicable United States federal and
state securities or blue sky laws and the terms and conditions hereof. Each
Warrant shall bear a legend in substantially the same form as the legend set
forth on the first page of this Warrant. Each certificate for Warrant Shares
issued upon exercise of this Warrant, unless at the time of exercise such
Warrant Shares are acquired pursuant to a registration statement that has been
declared effective under the Act, shall bear a legend substantially in the
following form:

     THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
     SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE SECURITIES
     LAWS OF ANY STATE.  THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON
     TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS
     PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT
     TO REGISTRATION OR EXEMPTION THEREFROM.  THE ISSUER OF THESE SECURITIES MAY
     REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE
     ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE
     WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

Any certificate for any Warrant Shares issued at any time in exchange or
substitution for any certificate for any Warrant Shares bearing such legend
(except a new certificate for any Warrant Shares issued after the acquisition of
such Warrant Shares pursuant to a registration statement

                                      -7-
<PAGE>

that has been declared effective under the Act) shall also bear such legend
unless, in the opinion of counsel for the Company, the Warrant Shares
represented thereby need no longer be subject to the restriction contained
herein. The provision of this Section 8 shall be binding upon all subsequent
holders of certificates for Warrant Shares bearing the above legend and all
subsequent holders of this Warrant, if any.

     Section 9.     Registration Rights.
                    -------------------

     (a) Upon exercise of this Warrant, the Holder shall have and be entitled to
exercise, together with all other holders of registrable securities possessing
registration rights under that certain Amended and Restated Investor Rights
Agreement, currently in effect, between the Company and the parties who have
executed the counterpart signature pages thereto or are otherwise bound thereby
(the "Investor Rights Agreement"), the rights of registration granted under the
Investor Rights Agreement to registrable securities (with respect to the shares
of common stock issuable upon exercise of this Warrant).  By its receipt of this
Warrant, Holder agrees to be bound by the Investor Rights Agreement.

     Section 10.  Modification and Waiver.  This Warrant and any term hereof may
                  -----------------------
be changed, waived, discharged or terminated by an instrument in writing signed
by the Company and by the Holders of a majority of the Warrants (on the basis of
the number of Warrant Shares into which such Warrants are exercisable) issued
pursuant to the Agreement. Any amendment effected in accordance with this
Section 10 shall be binding upon each Holders of any of the Warrants, each
future Holders of all such Warrants, and the Company; provided, however, that no
special consideration or inducement may be given to any such Holders in
connection with such consent that is not given ratably to all such Holders, and
that such amendment must apply to all such Holders equally and ratably in
accordance with the number of shares of Common Stock issuable upon exercise of
their Warrants.

     Section 11.  Notices.  All notices and other communications required or
                  -------
permitted hereunder shall be in writing and shall be deemed effectively given
upon personal delivery, on the first business day following mailing by overnight
courier, or on the fifth day following mailing by registered or certified mail,
return receipt requested, postage prepaid, addressed to the Company and the
Holder at its address as shown on the books of the Company or to the Company at
the address indicated therefor in the first paragraph of this Warrant.

     Section 12.  Descriptive Headings and Governing Law.  The description
                  --------------------------------------
headings of the several sections and paragraphs of this Warrant are inserted for
convenience only and do not constitute a part of this Warrant. This Warrant
shall be construed and enforced in accordance with, and the rights of the
parties shall be governed by, the laws of the State of California.

     Section 13.  Successors and Assigns.  The terms and provisions of this
                  ----------------------
Warrant shall inure to the benefit of, and be binding upon, the Company and the
Holders hereof and their respective successors and assigns.

     IN WITNESS WHEREOF, the Company has duly caused this Warrant to be executed
by its duly authorized officer and to be dated as of September 20, 2000.

                                      -8-
<PAGE>

                              PLUMTREE SOFTWARE, INC.

                              By:      /s/ JOHN KUNZE
                                     -----------------------------------
                              Name:      John Kunze
                                     -----------------------------------
                              Title:   Chief Executive Officer
                                     -----------------------------------

                                      -9-
<PAGE>

                                 PURCHASE FORM
                                 -------------

TO:  PLUMTREE SOFTWARE, INC.

     1.  The undersigned Holder of the attached original, executed Warrant for
the Purchase of Common Stock of Plumtree Software, Inc. (the "Company") hereby
elects to exercise its purchase right under such Warrant with respect to ______
Warrant Shares, as defined in the attached Warrant.

     2.  The undersigned Holder

         (a)  elects to pay the aggregate exercise price for such Warrant Shares
(the "Exercise Shares") in the following manner:

               (i)   by lawful money of the United States or the enclosed
                     certified check or postal or express money order payable in
                     United States dollars to the order of the Company in the
                     amount of $____________;

              (ii)   by wire transfer of United States funds to the account of
                     the Company in the amount of $_____________, which transfer
                     has been made before or simultaneously with the delivery of
                     this Purchase Form pursuant to the instructions of the
                     Company;

              (iii)  by the cancellation of indebtedness of the Company to the
                     undersigned Holder in the amount of $____________;

              (iv)   by the combination of the foregoing indicated above or on
                     the attached sheet;

                                       or
         (b)  elects to receive Warrant Shares equal to the value of the
Warrants calculated in accordance with Section 1(b) of the Warrants of the
Company.

     3.  Please issue a stock certificate or certificates representing the
appropriate number of Warrant Shares in the name of the undersigned or in such
other names as is specified below:

<TABLE>
<S>                                                  <C>
Name:____________________________________________    Date:__________________________________________
Address:_________________________________________
_________________________________________________    Note:  The signature of the Holder must conform in
Tax Identification No.:__________________________    all respects to the name of the Holder as specified
                                                     on the face of the Warrant, without alteration,
HOLDER:__________________________________________    enlargement or any change whatsoever.

By:______________________________________________
Its:_____________________________________________
</TABLE>

                                      -10-
<PAGE>

                                ASSIGNMENT FORM
                                ---------------

                                                     Dated _______________, ____

     FOR VALUE RECEIVED, ______________________________________ hereby sells,

assigns, and transfers unto ________________________________________ (the
                             (Please type or print in block letters)
"Assignee"),

________________________________________________________________________________
                                (insert address)

its right to purchase up to ___ shares of Common Stock represented by this
Warrant and does hereby irrevocably constitute and appoint
________________________________ as its attorney-in-fact, to transfer the same
on the books of the Company, with full power of substitution in the premises.

                                           ____________________________________
                                           (Signature)

                                      -11-

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