Document:

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                                                                    EXHIBIT 10.1
                        INCENTIVE STOCK OPTION AGREEMENT
                              ("OPTION AGREEMENT")

                     Made as of the ______ day of ______1999

                                 By and between

                         XACCT TECHNOLOGIES (1997) LTD.
                                 ("THE COMPANY")

                          an Israeli Company located at
                                 31 Lechi Street
                                 Bnei-Brak 51200
                                     Israel

                                OF THE FIRST PART

                                       AND

                                ("THE OPTIONEE")
                               OF THE SECOND PART

                                    PREAMBLE

WHEREAS       In July, 1998, the Company has adopted it's Option Plan, a copy of
              which is attached hereto as EXHIBIT A, forming an integral part
              hereof and -

WHEREAS       The Company has determined that the Optionee be granted an Options
              under the Option Plan to buy Shares of the Company, and the
              Optionee has agreed to such grant, all on the terms and subject to
              the conditions hereinafter provided.
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NOW, THEREFORE, it is agreed as follows:

1.     PREAMBLE AND DEFINITIONS

       1.1    The Preamble to this Option Agreement constitutes an integral part
              hereof.

       1.2    Unless otherwise defined herein, capitalized terms used herein
              shall have the meaning ascribed to them in the Option Plan.

2.     GRANT OF OPTION

       2.1    The Company hereby grants the Optionee ISOs in a number set forth
              in Section 2 of EXHIBIT B hereto (for purposes of this Option
              Agreement - THE OPTION(S) subject in each case to the vesting
              schedule thereof. Each Option is exercisable for One Ordinary
              Share of a nominal value of NIS 0.01 (THE SHARE), at a price per
              Ordinary Share as set forth in Section 3 of EXHIBIT B (THE OPTION
              PRICE), in each case upon the terms and subject to the conditions
              set forth herein. Each Share shall be allocated from the total
              number of shares reserved from of the Company's authorized share
              capital for the Option Plan

              The Option Price will be paid in NIS in accordance with the
              representative rate of exchange of the U.S. dollar, published by
              the Bank of Israel and known on the date of giving the notice of
              exercise (as set forth in Section 5.1 hereinafter).

       2.2    The Optionee is aware that the Company intends to issue additional
              shares in the future to various entities and individuals, as the
              Company in its sole discretion shall determine.

3.     PERIOD OF OPTION AND CONDITIONS OF EXERCISE

       3.1    The terms of this Option Agreement shall commence on the date
              hereof (THE DATE OF GRANT) and terminate at the Expiration Date
              (as defined in Section 6 below), or at the time at which the
              Option is completely terminated pursuant to the terms of the
              Option Plan or pursuant to this Option Agreement.

       3.2    The Options may be exercised by the Optionee in whole at any time
              or in part from time to time, as determined by the Board, and to
              the extent that the Options become vested and exercisable, prior
              to the Expiration Date, and provided that, subject to the
              provisions of Section 3.4 below, the Optionee is an employee of
              the Company or any of its subsidiaries, at all times during the
              period beginning with the granting of the Option and ending upon
              the date of exercise.

       3.3    Subject to the provisions of Section 3.4 below, in the event of
              termination of the Optionees employment with the Company or any of
              its subsidiaries, all Options granted to him or her will
              immediately be expired. A notice of termination of employment by
              either the Company or the Optionee shall be deemed to constitute
              termination of employment.

                                       2
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       3.4    Notwithstanding anything to the contrary hereinabove, an Option
              may be exercised after the date of termination of Optionee's
              employment with the Company or any subsidiary of the Company
              during an additional period of time beyond the date of such
              termination, but only with respect to the number of Options
              already vested at the time of such termination according to the
              vesting periods of the Options, set forth in Section 4 below, if:
              (I) prior to the date of such termination, the Committee shall
              authorize an extension of the terms of all or part of the Options
              beyond the date of such termination for a period not to exceed the
              period during which the Options by their terms would otherwise
              have been exercisable, (ii) termination is without Cause (as
              defined below), in which event any Options still in force and
              unexpired may be exercised within a period of 90 (ninety) days
              from the date of such termination, but only with respect to the
              number of shares purchasable at the time of such termination,
              according to the vesting periods of the Options, (iii) termination
              is the result of death or disability of the Optionee, in which
              event any Options still in force and unexpired may be exercised
              within a period of 3 (three) months from the date of termination,
              but only with respect to the number of Options already vested at
              the time of such termination according to the vesting periods of
              the Options. The term CAUSE shall mean any action, omission or
              state of affairs related to the Optionee which the Committee or
              the Board decides, in its sole discretion, is against the best
              interests of the Company.

       3.5    The Options may be exercised only to purchase whole Shares, and in
              no case may a fraction of a Share be purchased. If any fractional
              Shares would be deliverable upon exercise, such fraction shall be
              rounded up one-half or more, or otherwise rounded down, to the
              nearest whole number.

4.     VESTING

       Subject to the requirements as to the number of Shares for which an
       Option is exercisable, as set forth in Section 2.1 above, Options shall
       vest (i.e., Options shall become exercisable) at the dates set forth in
       Section 6 of Exhibit B hereto.

5.     METHOD OF EXERCISE

       Options shall be exercised by the Optionee by giving written notice to
       the Company, in such form and method as may be determined by the Company
       (THE EXERCISE NOTICE), which exercise shall be effective upon receipt of
       such notice by the Company at its principal office. The notice shall
       specify the number of Shares with respect to which the Option is being
       exercised.

                                       3
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 6.     TERMINATION OF OPTION

       6.1    Except as otherwise stated in this Option Agreement, the Options,
              to the extent not previously exercised, shall terminate forthwith
              upon the earlier of: (I) the date set forth in Section 4 of
              Exhibit B hereto; and - (ii) the expiration of any extended period
              in any of the events set forth in Section 3.4 above (and such
              earlier date shall be hereinafter referred to as THE EXPIRATION
              DATE).

       6.2    Without derogating from the above, the Committee may, with the
              prior written consent of the Optionee, from time to time cancel
              all or any portion of the Options then subject to exercise, and
              the Company's obligation in respect of such Options may be
              discharged by (I) payment to the Optionee of an amount in cash
              equal to the excess, if any, of the fair market value of the
              Shares pertaining to such canceled Options, at the date of such
              cancellation, over the aggregate purchase price of such Shares;
              (ii) the issuance or transfer to the Optionee of Shares of the
              Company with a fair market value at the date of such transfer
              equal to any such excess; or (iii) a combination of cash and
              Shares with a combined value equal to any such excess, all
              determined by the Committee in its sole discretion.

7.     ADJUSTMENTS

       7.1    If the Company is separated, reorganized, merged, consolidated or
              amalgamated with or into another corporation while unexercised
              Options remain outstanding under the Option Plan, there shall be
              substituted for the Shares subject to the unexercised portions of
              such outstanding Options an appropriate number of shares of each
              class of shares or other securities of the separated, reorganized,
              merged, consolidated or amalgamated corporation which were
              distributed to the shareholders of the Company in respect of such
              shares, and appropriate adjustments shall be made in the purchase
              price per share to reflect such action. However, subject to any
              applicable law, in the event the successor corporation does not
              agree to assume the award as aforesaid, the Vesting Period a set
              forth in section 4 above shall be accelerated so that any
              unexercisable or unvested portion of the outstanding Options shall
              be immediately exercisable and vested in full as of the date ten
              (10) days prior to the date of the change in control.

       7.2    If the Company is liquidated or dissolved while unexercised
              Options remain outstanding, then all such outstanding Options may
              be exercised in by the Optionee as of the effective date of any
              such liquidation or dissolution of the Company without regard to
              the installment exercise provisions hereof, by the Optionee giving
              notice in writing to the Company of his or her intention to so
              exercise.

                                       4
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       7.3    If the outstanding shares of the Company shall at any time be
              changed or exchanged by declaration of a stock dividend, stock
              split, combination or exchange of shares, re-capitalization, or
              any other like event by or of the Company, and as often as the
              same shall occur, then the number, class and kind of Shares
              subject to the Option therefore granted, and the Option Price,
              shall be appropriately and equitably adjusted so as to maintain
              the proportionate number of Shares without changing the aggregate
              Option Price; provided, however, that no adjustment shall be made
              by reason of the distribution of subscription rights on
              outstanding shares, all as will be determined by the Board whose
              determination shall be final.

       7.4    Anything herein to the contrary notwithstanding, if prior to the
              completion of the IPO, all or substantially all of the shares of
              the Company are to be sold, or upon a merger or reorganization or
              the like, the shares of the Company, or any class thereof, are to
              be exchanged for securities of another Company, then in such
              event, the Optionee shall be obliged to sell or exchange (in
              accordance with the value of his or her Shares in accordance to
              the transaction) as the case may be, the Shares such Optionee
              purchased hereunder, in accordance with the instructions then
              issued by the Board, which will be given according to the decided
              upon policy concerning Optionees under the Option Plan.

8.     RIGHTS PRIOR TO EXERCISE OF OPTION; LIMITATIONS AFTER PURCHASE OF SHARES

       8.1    Subject to the provisions of Section 8.2 below, the Optionee shall
              not have any of the rights or privileges of shareholders of the
              Company in respect of any Shares purchasable upon the exercise of
              any part of an Option unless and until, following exercise,
              registration of the Optionee as holder of such Shares in the
              Companies register of members.

       8.2    With respect to all Shares (in contrary to unexercised Options)
              issued upon the exercise of Options and purchased by the Optionee,
              the Optionee shall be entitled to receive dividends in accordance
              with the quantity of such Shares, and subject to any applicable
              taxation on distribution of dividends.

       8.3    No Option purchasable hereunder, whether fully paid or not, shall
              be assignable, transferable or given as collateral or any right
              with respect to them given to any third party whatsoever, and
              during the lifetime of the Optionee each and all of the Optionee's
              rights to purchase Shares hereunder shall be exercisable only by
              the Optionee.

              Any action or dealing in contravention of the prohibitions set
              forth in this Section 8.3 whether present or future, direct or
              indirect, shall be null and void.

                                       5
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       8.4    The Optionee may be required by the Company, at the Company's
              discretion, to give a representation in writing upon exercising
              the Option, that he or she is acquiring the Shares for his or her
              own account, for investment and not with a view to, or for sale in
              connection with, the distribution of any part thereof.

       8.5    The Optionee shall not dispose of any Option Shares in
              transactions which, in the opinion of counsel to the Company,
              violate the U.S. Securities Act of 1933, as amended (the "1933
              Act"), or the rules and regulations thereunder, or any applicable
              state securities or "blue sky" laws, including the securities laws
              of the State of Israel.

       8.6    If any Option Shares shall be registered under the 1933 Act, no
              public offering (otherwise than on a national securities exchange,
              as defined in the Securities Exchange Act of 1934, as amended) of
              any Option Shares shall be made by the Optionee (or any other
              person) under such circumstances that he or she (or such other
              person) many be deemed an underwriter, as defined in the 1933 Act.

       8.7    The Optionee agrees that the Company shall have the authority to
              endorse upon the certificate or certificates representing the
              Option Shares such legends referring to the foregoing
              restrictions, and any other applicable restrictions, as it many
              deem appropriate (which do not violate the Optionee's rights
              according to this Option Agreement).

9.     SHARES SUBJECT TO RIGHT OF FIRST REFUSAL

       9.1    Notwithstanding anything to the contrary in the Articles of
              Association of the Company, the Optionee shall not have a right of
              first refusal in relation with any sale, transfer or allotment of
              shares in the Company.

       9.2    Until such time as the Company shall effectuate an IPO, the sale
              of Shares issuable upon exercise of an Option, by the Optionee,
              shall be subject to a right of first refusal on the part of the
              Company's Founders, as defined in the Articles of Association of
              the Company in effect in July 1998 (save, for the avoidance of
              doubt, for other Optionees who already exercised their Options),
              PRO RATA in accordance with their shareholding, by the Optionee
              giving a notice of sale (THE NOTICE) to the Company who will
              forward the Notice to the Founders.

              The notice shall specify the Number of Shares offered for sale,
              the price per Share and the payment terms. The Founders will be
              entitled for 30 days from the day of receipt of the Notice ("THE
              30 DAYS PERIOD"), to purchase all or part of the offered Shares,
              PRO RATA in accordance with their shareholding. If by the end of
              the 30 Days Period not all of the offered Shares have been
              purchased by the Founders, the Optionee will be entitled to sell
              such Shares at any time during the 90 days following the end of
              the 30 Days Period on terms not more favorable than those set out
              in the Notice.

                                       6
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10.    GOVERNMENT REGULATIONS

       The Option Plan, and the granting and exercise of the Option thereunder,
       and the Company's obligation to sell and deliver Shares or cash under the
       Option, are subject to all applicable laws, rules and regulations,
       whether of the State of Israel or of the United States or any other state
       having jurisdiction over the Company and the Optionee, including the
       registration of the Shares under the 1933 Act, and to such approvals by
       any governmental agencies or national securities exchanges as may
       required.

11.    CONTINUANCE OF EMPLOYMENT

       Nothing in this Option Agreement shall be construed to impose any
       obligation on the Company or a subsidiary thereof to continue the
       Optionee's employment with it, to confer upon the Optionee any right to
       continue in the employ of the Company or a subsidiary thereof, or to
       restrict the right of the Company or a subsidiary thereof to terminate
       such employment at any time.

12.    GOVERNING LAW & JURISDICTION

       This Option Agreement shall be governed by and construed and enforced in
       accordance with the laws of the State of Israel applicable to contracts
       made and to be performed therein, without giving effect to the principles
       of conflict of laws. The competent courts of Tel-Aviv, Israel shall have
       sole and exclusive jurisdiction in any matters pertaining to this Option
       Agreement.

13.    TAX CONSEQUENCES

       Any tax consequences arising from the grant or exercise of any Option,
       from the payment for Shares covered thereby or from any other event or
       act (of the Company or the Optionee), hereunder, shall be borne solely by
       the Optionee. The Company shall withhold taxes according to the
       requirements under the applicable laws, rules, and regulations, including
       the withholding of taxes at source. Furthermore, the Optionee shall agree
       to indemnify the Company and hold it harmless against and from any and
       all liability for any such tax or interest or penalty thereon, including
       without limitation, liabilities relating to the necessity to withhold, or
       to have withheld, any such tax from any payment made to the Optionee.

                                       7
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14.    FAILURE TO ENFORCE NOT A WAIVER

       The failure of the any party to enforce at any time any provisions of
       this Option Agreement shall in no way be construed to be a waiver of such
       provision or of any other provision hereof.

15.    PROVISIONS OF THE OPTION PLAN

       The Options provided for herein are granted pursuant to the Option Plan,
       and said Options and this Option are in all respects governed by the
       Option Plan and subject to all of the terms and provisions whether such
       terms and provisions are incorporated in this Option Agreement solely by
       reference or are expressly cited herein.

       Any interpretation of this Option Agreement will be made in accordance
       with the Option Plan and in the event there is any contradiction between
       the provisions of this Option Agreement and the Option Plan, the
       provisions of the Plan will prevail.

16.    BINDING EFFECT

       This Option Agreement shall be binding upon the heirs, executors,
       administrators, and successors of the parties hereof.

17.    NOTICES

       Any notice required or permitted under this Option Agreement shall be
       deemed to have been duly given if delivered, faxed or mailed, if
       delivered by certified or registered mail or return receipt requested,
       either to the Optionee at his or her address set forth above or such
       other address as he or she may designate in writing to the Company, or to
       the Company at the address set forth above or such other address as the
       Company may designate in writing to the Optionee, within one from time to
       time.

18.    ENTIRE AGREEMENT

       This Option Agreement exclusively concludes all the terms of the
       Optionee's Option Plan, and, subject to the provisions of Section 20 of
       the Option Plan, annuls and supersedes any other agreement, arrangement
       or understanding, whether oral or in writing, relating to the grant of
       options to the Optionee. Any change of any kind to this Option Agreement
       will be valid only if made in writing and signed by both the Optionee and
       the Company's authorized member and has received the approval of the
       Board.

                                       8
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IN WITNESS WHEREOF, the Company executed this Option Agreement in duplicate on
the day and year first above written.

XACCT Technologies (1997) Ltd.

By: Eric Gries, President and CEO
                                   -------------------------------

The undersigned hereby accepts, and agrees to, all terms and provisions of the
foregoing Option Agreement.

-------------------------------
The Optionee

                                       9
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                                    EXHIBIT A

                            XACCT TECHNOLOGIES (1997)
                                      LTD.

                                    THE 1998
                                STOCK OPTION PLAN

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                         XACCT TECHNOLOGIES (1997) LTD.

                                    THE 1998
                                STOCK OPTION PLAN

1.     NAME

       This 1998 Stock Option Plan, as amended from time to time, shall be known
       as the XaCCT Technologies (1997) Ltd. 1998 Stock Option Plan (the "OPTION
       PLAN"). For the purposes of this Option Plan the reference to or the use
       of the term "Stock" or "stock" shall mean and refer to a "share" as
       defined in Section 1 of the Israeli Companies Ordinance New Version
       (5743-1983) (the "Ordinance") and not "stock" within the meaning Section
       146 of the Ordinance.

2.     PURPOSE OF THE OPTION PLAN

       The Option Plan is intended as an incentive to retain, in the employ of
       XaCCT Technologies (1997) Ltd.("THE COMPANY") and its subsidiaries,
       persons of training, experience, and ability, to attract new employees,
       directors and consultants whose services are considered valuable, to
       encourage the sense of proprietorship of such persons, and to stimulate
       the active interest of such persons in the development and financial
       success of the Company by providing them with opportunities to purchase
       shares in the Company, pursuant to the Option Plan approved by the board
       of directors of the company ("THE BOARD"). Options granted under the 1998
       Plan may or may not contain such terms as will qualify the Options as
       Incentive Stock Options ("ISOS") within the meaning of Section 422(b) of
       the United States Internal Revenue Code of 1986, as amended (the "CODE").
       Options which shall not contain terms as will qualify them as ISOs shall
       be referred to herein as Non - Qualified Stock Options ("NQSOS"). (All
       options granted hereunder shall be referred to herein together as the
       "OPTIONS").

3.     ADMINISTRATION OF THE OPTION PLAN

       The Board or a share option committee appointed and maintained by the
       Board for such purpose ("THE COMMITTEE") shall have the power to
       administer the Option Plan. Notwithstanding the above, the Board shall
       automatically have a residual authority if no Committee shall be
       constituted or if such Committee shall cease to operate for any reason
       whatsoever.

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       The Committee shall consist of such number of members (not less than two
       (2) in number) as may be fixed by the Board. The Committee shall select
       one of its members as its chairman ("THE CHAIRMAN") and shall hold its
       meetings at such times and places as the Chairman shall determine. The
       Committee shall keep records of its meetings and shall make such rules
       and regulations for the conduct of its business as it shall deem
       advisable.

       Any member of such Committee shall be eligible to receive Options under
       the Option Plan while serving on the Committee, unless otherwise
       specified herein.

       The Committee shall have full power and authority (i) to designate
       participants (ii) to determine the terms and provisions of respective
       Option agreements (which need not be identical) including, but not
       limited to, the number of shares in the Company to be covered by each
       Option, provisions concerning the time or times when and the extent to
       which the Options may be exercised and the nature and duration of
       restrictions as to transferability or restrictions constituting
       substantial risk of forfeiture; (iii) to accelerate the right of an
       Optionee to exercise, in whole or in part, any previously granted Option;
       (iv) to designate Options as Incentive Stock Options or as Non -
       Qualified Stock Options, (v) to interpret the provisions and supervise
       the administration of the Option Plan; and - (vi) to determine any other
       matter which is necessary or desirable for, or incidental to
       administration of the Option Plan.

       The Committee shall have the authority to grant, in its discretion, to
       the holder of an outstanding Option, in exchange for the surrender and
       cancellation of such Option, a new Option having a purchase price equal
       to, lower than or higher than the purchase price provided in the Option
       so surrendered and canceled, and containing such other terms and
       conditions as the Committee may prescribe in accordance with the
       provisions of the Option Plan.

       All decisions and selections made by the Board or the Committee pursuant
       to the provisions of the Option Plan shall be made by a majority of its
       members except that no member of the Board or the Committee shall vote
       on, or be counted for quorum purposes, with respect to any proposed
       action of the Board or the Committee relating to any Option to be granted
       to that member. Any decision reduced to writing and signed by a majority
       of the members who are authorized to make such decision shall be fully
       effective as if it had been made by a majority at a meeting duly held.

       The interpretation and construction by the Committee of any provision of
       the Option Plan or of any Option thereunder shall be final and conclusive
       unless otherwise determined by the Board.

       Subject to the Company decision, each member of the Board or the
       Committee shall be indemnified and held harmless by the Company against
       any cost or expense (including counsel fees) reasonably incurred by him
       or her, or any liability (including any sum paid in settlement of a claim
       with the approval of the Company) arising out of any act or omission to
       act in connection with the Option Plan unless arising out of such
       member's own fraud or bad faith, to the extent permitted by applicable
       law. Such indemnification shall be in addition to any rights of
       indemnification the member may have as a director or otherwise under the
       Company's Articles of Association, any agreement, any vote of
       shareholders or disinterested directors, insurance policy or otherwise.

                                       12
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4.     DESIGNATION OF PARTICIPANTS

       The persons eligible for participation in the Option Plan as recipients
       of Options shall include any employees, directors and consultants of the
       Company or of any subsidiary of the Company. The grant of an Option
       hereunder shall neither entitle the recipient thereof to participate nor
       disqualify him or her from participating in, any other grant of Options
       pursuant to this Option Plan or any other option or share option plan of
       the Company or any of its affiliates.

5.     SHARES RESERVED FOR THE OPTION PLAN; RESTRICTION THEREON

       5.1    Subject to adjustments as set forth in Section 8 below, a total of
              ______Ordinary Shares, of NIS 0.01n.v. each ("THE SHARES") shall
              be subject to the Option Plan. The foregoing number of shares may
              be increased or decreased by the events set forth in Section 8
              ("ADJUSTMENT") hereof. The Shares subject to the Option Plan are
              hereby reserved for such purpose in the authorized share capital
              of the Company and may only be issued in terms hereof. Any of such
              Shares which may remain unissued and which are not subject to
              outstanding Options at the termination of the Option Plan shall
              cease to be reserved for the purpose of the Option Plan, but until
              termination of the Option Plan the Company shall at all times
              reserve sufficient number of Shares to meet the requirements of
              the Option Plan. Should any Option for any reason expire or be
              canceled prior to its exercise or relinquishment in full, the
              Shares therefore subject to such Option may again be subjected to
              an Option under the Option Plan.

       5.2    Each Option granted pursuant to the Plan, shall be evidenced by a
              written agreement between the Company and the Optionee (the
              "OPTION AGREEMENT"), in such form as the Board or the Committee
              shall from time to time approve. Each Option Agreement shall state
              the number of ordinary shares to which the Option relates and the
              type of option granted thereunder (whether an ISO or an NQSO).

6.     OPTION PRICE

       6.1    The purchase price of each Share subject to an Option or any
              portion thereof shall be determined by the Committee in its sole
              and absolute discretion in accordance with applicable law, subject
              to any guidelines as may be determined by the Board from time to
              time. In the case of an ISO, the exercise price shall not be less
              than 100% of the fair market value thereof, as determined by the
              Board or the Committee in its sole discretion.

       6.2    The Option price shall be payable upon the exercise of the Option
              in a form satisfactory to the Committee, including without
              limitation, by cash or check. The Committee shall have the
              authority to postpone the date of payment on such terms as it may
              determine.

                                       13
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7.     ADJUSTMENTS

       Upon the occurrence of any of the following described events, Optionee's
       rights to purchase Shares under the Option Plan shall be adjusted as
       hereafter provided:

       7.1    If the Company is separated, reorganized, merged, consolidated or
              amalgamated with or into another corporation while unexercised
              Options remain outstanding under the Option Plan, there shall be
              substituted for the Shares subject to the unexercised portions of
              such outstanding Options an appropriate number of shares of each
              class of shares or other securities of the separated, reorganized,
              merged, consolidated or amalgamated corporation which were
              distributed to the shareholders of the Company in respect of such
              shares, and appropriate adjustments shall be made in the purchase
              price per share to reflect such action. However, subject to any
              applicable law, in the event the successor corporation does not
              agree to assume the award as aforesaid, the Vesting Period a set
              forth in section 4 above shall be accelerated so that any
              unexercisable or unvested portion of the outstanding Options shall
              be immediately exercisable and vested in full as of the date ten
              (10) days prior to the date of the change in control.

       7.2    If the Company is liquidated or dissolved while unexercised
              Options remain outstanding under the Option Plan, then all such
              outstanding Options may be exercised in full by the Optionees as
              of the effective date of any such liquidation or dissolution of
              the Company without regard to the installment exercise provisions
              of Section 8(2), by the Optionees giving notice in writing to the
              Company of their intention to so exercise.

       7.3    If the outstanding shares of the Company shall at anytime be
              changed or exchanged by declaration of a share dividend, share
              split, combination or exchange of shares, recapitalization, or any
              other like event by or of the Company, and as often as the same
              shall occur, then the number, class and kind of Shares subject to
              this Option Plan or subject to any Options therefore granted, and
              the Option prices, shall be appropriately and equitably adjusted
              so as to maintain the proportionate number of Shares without
              changing the aggregate Option price, provided, however, that no
              adjustment shall be made by reason of the distribution of
              subscription rights on outstanding shares. Upon happening of any
              of the foregoing, the class and aggregate number of Shares
              issuable pursuant to the Option Plan (as set forth in Section 5
              hereof), in respect of which Options have not yet been exercised,
              shall be appropriately adjusted, all as will be determined by the
              Board whose determination shall be final.

       7.4    Anything herein to the contrary notwithstanding, if prior to the
              completion of an initial public offering of the Company's
              securities (IPO), all or substantially all of the shares of the
              Company are to be sold, or upon a merger or reorganization or the
              like, the shares of the Company, or any class thereof, are to be
              exchanged for securities of another Company, then in such event,
              each Optionee shall be obliged to sell or exchange, as the case
              may be, the shares such Optionee purchased under the Option Plan,
              in accordance with the instructions then issued by the Board whose
              determination shall be final.

                                       14
<PAGE>

8.     TERM AND EXERCISE OF OPTIONS

       8.1    Options shall be exercised by the Optionee by giving written
              notice to the Company, in such form and method as may be
              determined by the Company, which exercise shall be effective upon
              receipt of such notice by the Company at its principal office. The
              notice shall specify the number of Shares with respect to which
              the Option is being exercised.

       8.2    Each Option granted under this Option Plan shall be exercisable
              following the exercise dates and for the number of Shares as shall
              be provided in Exhibit B to the Option Agreement. However, (i)
              subject to the provisions of section 8.6 below, no option shall be
              exercisable after the expiration of ten (10) years from the Date
              of Grant as defined for each Optionee in his or her Option
              Agreement and (ii) no ISO may be granted to a person who at the
              time of the grant owns more than 10% of the voting power or value
              of all classes of shares of the Company or its subsidiary. However
              no Option shall be exercisable after the Expiration Date.

       8.3    Options granted under the Option Plan shall not be transferable by
              Optionees other than by will or laws of descent and distribution,
              and during an Optionee's lifetime shall be exercisable only by
              that Optionee.

       8.4    The Options may be exercised by the Optionee in whole at any time
              or in part from time to time, to the extent that the Options
              become vested and exercisable, prior to the Expiration Date, and
              provided that, subject to the provisions of Section 8.6 below (i)
              the Optionee is an employee of the Company or any of its
              subsidiaries, at all times during the period beginning with the
              granting of the Option and ending upon the date of exercise (ii)
              the director or the consultant is serving the Company or any of
              its subsidiaries, at all times during the period beginning with
              the granting of the Option and ending upon the date of exercise.

       8.5    Subject to the provisions of Section 8.6 below, in the event of
              termination of employees employment with the Company or any of its
              subsidiaries, or the termination of services given by directors or
              consultants to the Company or any of its subsidiaries, all Options
              granted to them will immediately be expired. A notice of
              termination of employment or services shall be deemed to
              constitute termination of employment or services.

                                       15
<PAGE>

       8.6    Notwithstanding anything to the contrary hereinabove, an Option
              may be exercised after the date of termination of Optionee's
              service or employment with the Company or any subsidiary of the
              Company during an additional period of time beyond the date of
              such termination, but only with respect to the number of Options
              already vested at the time of such termination according to the
              vesting periods of the Options set forth in Section 4 of such
              Optionee's Option Agreement, if: (i) prior to the date of such
              termination, the Committee shall authorize an extension of the
              terms of all or part of the Options beyond the date of such
              termination for a period not to exceed the period during which the
              Options by their terms would otherwise have been exercisable, (ii)
              termination is without Cause (as defined below), in which event
              any Options still in force and unexpired may be exercised within a
              period of ninety (90) days from the date of such termination, but
              only with respect to the number of shares purchasable at the time
              of such termination, according to the vesting periods of the
              Options, (iii) termination is the result of death or disability of
              the Optionee, in which event any Options still in force and
              unexpired may be exercised within a period of twelve (12) months
              from the date of termination, but only with respect to the number
              of Options already vested at the time of such termination
              according to the vesting periods of the Options. The term "CAUSE"
              shall mean any action, omission or state of affairs related to the
              Optionee which the Committee or the Board decides, in its sole
              discretion, is against the best interests of the Company.

       8.7    Subject to the provisions of Section 12 below, the holders of
              Options shall not have any of the rights or privileges of
              shareholders of the Company in respect of any Shares purchasable
              upon the exercise of any part of an Option unless and until,
              following exercise, registration of the Optionee as holder of such
              Shares in the Companies register of members.

       8.8    Any form of Option agreement authorized by the Option Plan may
              contain such other provisions as the Committee may, from time to
              time, deem advisable. Without limiting the foregoing, the
              Committee may, with the consent of the Optionee, from time to time
              cancel all or any portion of any Option then subject to exercise,
              and the Company's obligation in respect of such Option may be
              discharged by (i) payment to the Optionee of an amount in cash
              equal to the excess, if any, of the Fair Market Value of the
              Shares at the date of such cancellation subject to the portion of
              the Option so canceled over the aggregate purchase price of such
              Shares, (ii) the issuance or transfer to the Optionee of Shares of
              the Company with a Fair Market Value at the date of such transfer
              equal to any such excess, or (iii) a combination of cash and
              shares with a combined value equal to any such excess, all as
              determined by the Committee in its sole discretion.

                                       16
<PAGE>

9.     INCENTIVE STOCK OPTIONS

       Options intended to constitute ISOs, shall be subject to the following
       special terms and conditions in addition to the general terms and
       conditions of the Plan:

       9.1    With respect to ISO granted to employees, the aggregate fair
              market value of the shares (determined as of the grant of the ISO)
              with respect to which ISO are exercisable, for the first time by
              any grantee during any calendar year shall not exceed the
              limitation provided under Section 422(d) of the Internal Revenue
              Code.

       9.2    The Options issued as ISOs must be granted within 10 years of the
              date that the Plan was adopted or the date that the plan is
              approved by the shareholders, whichever is earlier.

       9.3    Any Options issued as ISOs, must by its terms be exercisable only
              within 10 years from the date it is granted.

       9.4    The exercise price of any ISO must not be less than the fair
              market value of the shares at the time the ISO is granted. This
              requirement shall be deemed satisfied if there has been a good
              faith attempt to value the shares accurately for thus purpose.

       9.5    The ISO by its terms must be non-transferable other than at death
              and must be exercisable during the Optionee's lifetime only by the
              Optionee.

10.    PURCHASE OF INVESTMENT

       Unless Shares covered by the Plan have been listed for trade on any stock
       exchange (of any jurisdiction), or the Company has determined that such
       registration is unnecessary, each person exercising an Option under the
       Plan may be required by the Company to give a representation in writing
       that he is acquiring such shares for his or her own account, for
       investment and not with a view to, or for sale in connection with, the
       distribution of any part thereof.

11.    SHARES SUBJECT TO RIGHT OF FIRST REFUSAL

       11.1   Notwithstanding anything to the contrary in the Articles of
              Association of the Company, none of the Optionees shall have a
              right of first refusal in relation with any sale, transfer or
              allotment of shares in the Company.

                                       17
<PAGE>

       11.2   Until such time as the Company shall effectuate an IPO, the sale
              of Shares issuable upon exercise of an Option, by the Optionee,
              shall be subject to a right of first refusal on the part of the
              Company's Founders, as defined in the Articles of Association of
              the Company in effect in July 1998 (save, for the avoidance of
              doubt, for other Optionees who already exercised their Options),
              PRO RATA in accordance with their shareholding, by the Optionee
              giving a notice of sale (THE NOTICE) to the Company who will
              forward the Notice to the Founders.

              The notice shall specify the number of Shares offered for sale,
              the price per Share and the payment terms. The Founders will be
              entitled for 30 days from the day of receipt of the Notice ("THE
              30 DAYS PERIOD"), to purchase all or part of the offered Shares,
              PRO RATA in accordance with their shareholding. If by the end of
              the 30 Days Period not all of the offered Shares have been
              purchased by the Founders, the Optionee will be entitled to sell
              such Shares at any time during the 90 days following the end of
              the 30 Days Period on terms not more favorable than those set out
              in the Notice.

12.    DIVIDENDS

       With respect to all Shares (in contrary to unexercised Options) issued
       upon the exercise of Options and purchased by the Optionee, the Optionee
       shall be entitled to receive dividends in accordance with the quantity of
       such Shares, and subject to any applicable taxation on distribution of
       dividends.

13.    ASSIGNABILITY AND SALE OF OPTIONS

       No Option, purchasable hereunder, whether fully paid or not, shall be
       assignable, transferable or given as collateral or any right with respect
       to them given to any third party whatsoever, and during the lifetime of
       the Optionee each and all of such Optionee's rights to purchase Shares
       hereunder shall be exercisable only by the Optionee.

14.    TERM OF THE OPTION PLAN

       The Option Plan shall be effective as of the day it was adopted by the
       Board and shall terminate at the end of 60 months from such day of
       adoption.

                                       18
<PAGE>

15.    AMENDMENTS OR TERMINATION

       The Board may, at any time and from time to time, amend, alter or
       discontinue the Option Plan, except that no amendment or alteration shall
       be made which would impair the rights of the holder of any Option
       therefore granted, without his or her consent.

16.    GOVERNMENT REGULATIONS

       The Option Plan, and the granting and exercise of Options hereunder, and
       the obligation of the Company to sell and deliver Shares under such
       Options, shall be subject to all applicable laws, rules, and regulations,
       whether of the State of Israel or of the United States or any other state
       having jurisdiction over the Company and the Optionee, including the
       registration of the Shares under the United States Securities Act of
       1933, and to such approvals by any governmental agencies or national
       securities exchanges as may be required.

17.    CONTINUANCE OF EMPLOYMENT OR OTHER ENGAGEMENT

       Neither the Option Plan nor the Option Agreement with the Optionee shall
       impose any obligation on the Company or a subsidiary thereof, to continue
       any Optionee in its employ or engagement, and nothing in the Option Plan
       or in any Option granted pursuant thereto shall confer upon any Optionee
       any right to continue in the employ or engagement of the Company or a
       subsidiary thereof or restrict the right of the Company or a subsidiary
       thereof to terminate such employment or such engagement at any time.

18.    GOVERNING LAW & JURISDICTION

       This Option Plan shall be governed by and construed and enforced in
       accordance with the laws of the State of Israel applicable to contracts
       made and to be performed therein, without giving effect to the principles
       of conflict of laws. The competent courts of Tel-Aviv, Israel shall have
       sole and exclusive jurisdiction in any matters pertaining to this Plan.

                                       19
<PAGE>

19.    TAX CONSEQUENCES

       Any tax consequences arising from the grant or exercise of any Option,
       from the payment for Shares covered thereby or from any other event or
       act (of the Company or the Optionee), hereunder, shall be borne solely by
       the Optionee. The Company shall withhold taxes according to the
       requirements under the applicable laws, rules, and regulations, including
       withholding taxes at source. Furthermore, the Optionee shall agree to
       indemnify the Company and hold it harmless against and from any and all
       liability for any such tax or interest or penalty thereon, including
       without limitation, liabilities relating to the necessity to withhold, or
       to have withheld, any such tax from any payment made to the Optionee.

20.    NON-EXCLUSIVITY OF THE OPTION PLAN

       The adoption of the Option Plan by the Board shall not be construed as
       amending, modifying or rescinding any previously approved incentive
       arrangements or as creating any limitations on the power of the Board to
       adopt such other incentive arrangements as it may deem desirable,
       including, without limitation, the granting of share Options otherwise
       then under the Option Plan, and such arrangements may be either
       applicable generally or only in specific cases. For the avoidance of
       doubt, prior grant of options to employees of the Company under their
       employment agreements, and not in the framework of any previous option
       plan, shall not be deemed an approved incentive arrangement for the
       purpose of this Section.

21.    MULTIPLE AGREEMENTS

       The terms of each Option may differ from other Options granted under the
       Option Plan at the same time, or at any other time. The Committee may
       also grant more than one Option to a given Optionee during the term of
       the Option Plan, either in addition to, or in substitution for, one or
       more Options previously granted to that Optionee.

                                       20
<PAGE>

                                    EXHIBIT B

                      TERMS OF THE INCENTIVE STOCK OPTIONS

------------------------------------------------------------------------------
1. Name of the Optionee:
------------------------------------------------------------------------------
2. Number of ISOs granted:
------------------------------------------------------------------------------
3. Price per Share:
------------------------------------------------------------------------------
4. Expiration Date:                8 years from the Date of Grant
------------------------------------------------------------------------------
5. Date of Grant:
------------------------------------------------------------------------------
6. Vesting schedule                4 years
------------------------------------------------------------------------------

-------------------------------------------------------------------------------
    % OF THE OPTIONS                                VESTING DATE
------------------------------------------------------------------------------
         6.25                      Every 3 months, starting from the 3rd month
                                   from the Date of Grant (unless stated
                                   differently in employee's contract
------------------------------------------------------------------------------

Optionee Signature
                   ------------------------

                                       21
<PAGE>

                        AMENDED AND RESTATED SHARE OPTION
                                    AGREEMENT
                              ("OPTION AGREEMENT")

                   Made as of the _____ day of _______, ______

                                 by and between

                             XACCT TECHNOLOGIES LTD.
                                 (the "COMPANY")

                      an Israeli private company located at
                                12 Hachilazon St.
                                 Ramat Gan 52522
                                     Israel
                                       and
                                       c/o
                            XACCT Technologies, Inc.
                                       at
                               2300 Lakeside Drive
                            Santa Clara, CA 95054 USA

                                OF THE FIRST PART

                                       AND
                      ------------------------------------
                                     (name)
                      ------------------------------------
                      ------------------------------------
                      ------------------------------------
                                    (address)
                      ------------------------------------
                                  (fax number)
                      ------------------------------------
                                 (email address)
                      ------------------------------------
                                    (tax ID)

                                (the "OPTIONEE")
                               OF THE SECOND PART

<PAGE>

                                    PREAMBLE

WHEREAS           In July 1998, the Company  adopted its Option Plan, a copy of
                  which is attached  hereto as EXHIBIT E, and constitutes
                  an integral part hereof;

WHEREAS           The Company granted Optionee an Option under the Option Plan
                  to buy Shares of the Company; and

WHEREAS           The Company and the  Optionee  desire to amend the option to
                  permit the  Optionee  to  exercise  the Option  prior to
                  vesting, all on the terms and subject to the conditions
                  hereinafter provided.

<PAGE>

NOW, THEREFORE, it is agreed as follows:

     1.   PREAMBLE AND DEFINITIONS

          1.1 The preamble to this Option Agreement constitutes an integral part
     hereof.

          1.2 Unless otherwise defined herein, capitalized terms used herein
     shall have the meaning ascribed to them in the Option Plan.

     2.   GRANT OF OPTION

          2.1 The Company hereby grants the Optionee incentive share options
     within the meaning of Section 422 of the Code in a number set forth in
     Section 2 of EXHIBIT B hereto (for purposes of this Option Agreement the
     "OPTION(S)) subject in each case to the vesting schedule thereof. Each
     Option is exercisable for one Voting Ordinary Share of a nominal value of
     NIS 0.04 (each a "SHARE"), at a price per Ordinary Share as set forth in
     Section 3 of EXHIBIT B (the "OPTION PRICE"), in each case upon the terms
     and subject to the conditions set forth herein. Each Share shall be
     allocated from the total number of shares reserved from of the Company's
     authorized share capital for the Option Plan.

               The Option Price will be paid in NIS in accordance with the
     representative rate of exchange of the U.S. dollar, published by the Bank
     of Israel and known on the date of giving the notice of exercise (as set
     forth in Section 5.1 hereinafter).

          2.2 The Optionee is aware that the Company intends to issue additional
     shares in the future to various entities and individuals, as the Company in
     its sole discretion shall determine.

     3.   PERIOD OF OPTION AND CONDITIONS OF EXERCISE

          3.1 The terms of this Option Agreement shall commence on the date
     hereof (the "DATE OF GRANT") and terminate on the Expiration Date (as
     defined in Section 6 below), or at the time at which the Option is
     completely terminated pursuant to the terms of the Option Plan or pursuant
     to this Option Agreement.

          3.2 To the extent that the Options have vested prior to the Expiration
     Date, they may be exercised by the Optionee in whole at any time or in part
     from time to time, as determined by the Board. Alternatively, at the
     election of the Optionee, and subject to the prior approval by the Board,
     this option may be exercised in whole or in part at any time prior to the
     Expiration Date as to Shares that have not yet vested, conditioned upon
     Optionee's execution of the Restricted Share Purchase Agreement attached
     hereto as EXHIBIT D-1. For purposes of this Option Agreement, Shares
     subject to the Option shall vest based on continued employment of Optionee
     with the Company. Vested and fully paid for Shares shall not be subject to
     the escrow arrangement and/or the Company's forfeiture right as set forth
     in the Restricted Share Purchase Agreement.

                                      -3-
<PAGE>

          3.3 Subject to the provisions of Section 3.4 below, in the event of
     termination of the Optionee's employment with the Company or any of its
     subsidiaries, all Options granted to him or her will immediately expire.

              Notwithstanding anything to the contrary hereinabove, an Option
     may be exercised after the date of termination of Optionee's employment
     with the Company or any subsidiary of the Company during an additional
     period of time beyond the date of such termination, but (not withstanding
     the provisions of Section 3.2 above) only with respect to the number of
     Options already vested at the time of such termination according to the
     vesting periods of the Options set forth in Section 6 of EXHIBIT B hereto,
     if: (i) termination is without Cause (as defined below), in which event any
     Options still in force and unexpired may be exercised within a period of 3
     (three) months from the date of such termination, but only with respect to
     the number of shares vested at the time of such termination, according to
     the vesting periods of the Options, or (ii) termination is the result of
     death or disability of the Optionee, in which event any Options still in
     force and unexpired may be exercised within a period of 3 (three) months
     from the date of termination, but only with respect to the number of
     Options already vested at the time of such termination according to the
     vesting periods of the Options. The term "Cause" shall mean (i) conviction
     of any felony involving moral turpitude or affecting the Company; (ii) any
     refusal to carry out a reasonable directive of the CEO which involves the
     business of the Company or its affiliates and was capable of being lawfully
     performed; (iii) embezzlement of funds of the Company or its affiliates;
     (iv) any breach of the Optionee's fiduciary duties or duties of care of the
     Company; including without limitation disclosure of confidential
     information of the Company; and (v) any conduct (other than conduct in good
     faith) reasonably determined by the Board to be materially detrimental to
     the Company.

          3.4 The Options may be exercised only to purchase whole Shares, and in
     no case may a fraction of a Share be purchased.

     4.   METHOD OF EXERCISE; METHOD OF PAYMENT

          4.1 Options shall be exercised by the Optionee by giving written
     notice to the Company, in such form attached hereto as EXHIBIT C (the
     "EXERCISE NOTICE"), which exercise shall be effective upon receipt of such
     notice and receipt of the payment of the exercise price specified in
     section 4.2 below by the Company at its Israel or Northern California
     headquarters. The notice shall specify the number of Shares with respect to
     which the Option is being exercised.

          4.2 Payment of the exercise price shall be by any of the following, or
     a combination thereof, at the election of the Optionee:

               (a) cash or check;

               (b) a form of installment obligation approved by the Company
     (this form of payment is mandatory with respect to any Options exercised
     prior to vesting).

                                      -4-
<PAGE>

          5.   TERMINATION OF OPTION

               5.1 Except as otherwise stated in this Option Agreement, the
          Options, to the extent not previously exercised, shall terminate
          forthwith upon the earlier of: (i) the date set forth in Section 4 of
          EXHIBIT B hereto; and (ii) the time set forth in Sections 3.3 and 3.4
          above (and such earlier date shall be hereinafter referred to as the
          "EXPIRATION DATE").

               5.2 Without derogating from the above, the Board may, with the
          prior written consent of the Optionee, from time to time cancel all or
          any portion of the Options then subject to exercise, and the Company's
          obligation in respect of such Options may be discharged by (i) payment
          to the Optionee of an amount in cash equal to the excess, if any, of
          the fair market value of the Shares pertaining to such canceled
          Options, at the date of such cancellation, over the aggregate purchase
          price of such Shares; (ii) the issuance or transfer to the Optionee of
          Shares of the Company with a fair market value at the date of such
          transfer equal to any such excess; or (iii) a combination of cash and
          Shares with a combined value equal to any such excess, all determined
          by the Board in its sole discretion.

          6.   ADJUSTMENTS

               6.1 If the Company is separated, reorganized, merged,
          consolidated or amalgamated with or into another corporation while
          unexercised Options remain outstanding under the Option Plan, there
          shall be substituted for the Shares subject to the unexercised
          portions of such outstanding Options an appropriate number of shares
          of each class of shares or other securities of the separated,
          reorganized, merged, consolidated or amalgamated corporation which
          were distributed to the shareholders of the Company in respect of such
          shares, and appropriate adjustments shall be made in the purchase
          price per share to reflect such action. However, subject to any
          applicable law, in the event the successor corporation does not agree
          to assume such unexercised Options, the Vesting Period as set forth in
          Section 6 of EXHIBIT B hereto shall be accelerated so that any
          unexercisable or unvested portion of the outstanding Options shall be
          immediately exercisable and vested in full as of the date ten (10)
          days prior to the date of the change in control.

               6.2 If the Company is liquidated or dissolved while unexercised
          Options remain outstanding, then all such outstanding Options may be
          exercised by the Optionee as of the effective date of any such
          liquidation or dissolution of the Company without regard to the
          vesting provisions of Section 6 of EXHIBIT B hereto, by the Optionee
          giving notice in writing to the Company of his or her intention to so
          exercise.

               6.3 Notwithstanding anything contrary in the Plan, in the event
          the Shares shall be subdivided or combined into a greater or smaller
          number of Shares or if, upon a reorganization, recapitalization or the
          like, the Shares shall be exchanged for other securities of the
          Company, the Optionee shall be entitled to purchase such number of
          Shares or amount of other securities of the Company as were
          exchangeable for the number of Shares of the Company which such
          Optionee would have been entitled to purchase except for such action,
          and appropriate adjustments shall be made in the purchase price per
          Share to reflect such subdivision, combination or exchange.

                                      -5-
<PAGE>

                   In the event that the Company shall issue any of its
          Shares or other securities as bonus shares or a share dividend upon or
          with respect to any Shares which shall at the time be subject to an
          Option hereunder, the Optionee, upon exercising this Option, shall be
          entitled to receive (for the purchase price payable upon such
          exercise), the Shares as to which the Optionee is exercising this
          Option and, in addition thereto (at no additional cost), such number
          of shares of the class or classes in which such bonus shares or share
          dividend were declared, and such amount of Shares (and the amount in
          lieu of fractional Shares) as is equal to the Shares which the
          Optionee would have received had the Optionee been the holder of the
          Shares as to which the Optionee is exercising this Option at all times
          between the date of the granting of this Option and the date of its
          exercise.

               6.4 Anything herein to the contrary notwithstanding, if prior to
          the completion of the IPO, all or substantially all of the shares of
          the Company are to be sold, or upon a merger or reorganization or the
          like, the shares of the Company, or any class thereof, are to be
          exchanged for securities of another Company, then in such event, the
          Optionee shall be obliged to sell or exchange (in accordance with the
          value of his or her Shares in accordance to the transaction) as the
          case may be, the Shares such Optionee purchased hereunder, in
          accordance with the instructions then issued by the Board, which will
          be given according to the decided upon policy concerning Optionees
          under the Option Plan.

          7.   RIGHTS PRIOR TO EXERCISE OF OPTION; LIMITATIONS AFTER PURCHASE OF
               SHARES

               7.1 Subject to the provisions of Section 7.2 below, the Optionee
          shall not have any of the rights or privileges of shareholders of the
          Company in respect of any Shares purchasable upon the exercise of any
          part of an Option unless and until, following exercise, registration
          of the Optionee as holder of such Shares in the Company's register of
          members.

               7.2 With respect to all Shares, (in contrast to unexercised
          Options) the payment of which is not subject to an Installment
          Obligation, issued upon the exercise of Options and purchased by the
          Optionee, the Optionee shall be entitled to receive dividends in
          accordance with the quantity of such Shares, and subject to any
          applicable taxation on distribution of dividends, the applicable
          provisions of the Company's Articles of Association and any other
          agreement between the Optionee and the Company.

               7.3 No Option purchasable hereunder, whether fully paid or not,
          shall be assignable, transferable or given as collateral or any right
          with respect to them given to any third party whatsoever, and during
          the lifetime of the Optionee each and all of the Optionee's rights to
          purchase Shares hereunder shall be exercisable only by the Optionee.

                   Any action or dealing in contravention of the prohibitions
          set forth in this Section 7.3 whether present or future, direct or
          indirect, shall be null and void.

               7.4 The Optionee may be required by the Company, at the Company's
          discretion, to give a representation in writing upon exercising the
          Option, that he or she is acquiring the Shares for his or her own
          account, for investment and not with a view to, or for sale in
          connection with, the distribution of any part thereof.

                                      -6-
<PAGE>

               7.5 The Optionee shall not dispose of any Option Shares in
          transactions which, in the opinion of counsel to the Company, violate
          the U.S. Securities Act of 1933, as amended (the "1933 Act"), or the
          rules and regulations thereunder, or any applicable state securities
          or "blue sky" laws, including the securities laws of the State of
          Israel.

               7.6 If any Option Shares shall be registered under the 1933 Act,
          no public offering (otherwise than on a national securities exchange,
          as defined in the Securities Exchange Act of 1934, as amended) of any
          Option Shares shall be made by the Optionee (or any other person)
          under such circumstances that he or she (or such other person) many be
          deemed an underwriter, as defined in the 1933 Act.

               7.7 The Optionee agrees that the Company shall have the authority
          to endorse upon the certificate or certificates representing the
          Option Shares such legends referring to the foregoing restrictions,
          and any other applicable restrictions, as it many deem appropriate
          (which do not violate the Optionee's rights according to this Option
          Agreement).

          8.   SHARES SUBJECT TO RIGHT OF FIRST REFUSAL

               8.1 Notwithstanding anything to the contrary in the Articles of
          Association of the Company, the Optionee shall not have a right of
          first refusal, co-sale right or pre-emptive right in relation with any
          sale, transfer or allotment of shares in the Company.

               8.2 Until such time as the Company shall effectuate an IPO, the
          sale of Shares issuable upon exercise of an Option, by the Optionee,
          shall be subject to a right of first refusal as defined and provided
          for in the Articles of Association of the Company. The exercise of
          such right of first refusal shall be made in accordance with the
          provisions of Article 28 of the Company's Articles of Association.

          9    GOVERNMENT REGULATIONS

                   The Option Plan, and the granting and exercise of the Option
          thereunder, and the Company's obligation to sell and deliver Shares or
          cash under the Option, are subject to all applicable laws, rules and
          regulations, whether of the State of Israel or of the United States or
          any other state having jurisdiction over the Company and the Optionee,
          including the registration of the Shares under the 1933 Act, and to
          such approvals by any governmental agencies or national securities
          exchanges as may required.

          10   CONTINUANCE OF EMPLOYMENT

                   Nothing in this Option Agreement shall be construed to
          impose any obligation on the Company or a subsidiary thereof to
          continue the Optionee's employment with it, to confer upon the
          Optionee any right to continue in the employ of the Company or a
          subsidiary thereof, or to restrict the right of the Company or a
          subsidiary thereof to terminate such employment at any time

          11   GOVERNING LAW & JURISDICTION

                   This Option Agreement shall be governed by and construed
          and enforced in

                                      -7-
<PAGE>

          accordance with the laws of the State of Israel applicable to
          contracts made and to be performed therein, without giving effect to
          the principles of conflict of laws. The competent courts of Tel-Aviv,
          Israel shall have sole and exclusive jurisdiction in any matters
          pertaining to this Option Agreement.

          12   TAX CONSEQUENCES

                   Any tax consequences arising from the grant or exercise of
          any Option, from the payment for Shares covered thereby or from any
          other event or act (of the Company or the Optionee), hereunder, shall
          be borne solely by the Optionee, to the extent permitted by applicable
          law. The Company shall withhold taxes according to the requirements
          under the applicable laws, rules, and regulations, including the
          withholding of taxes at source. Furthermore, the Optionee shall agree
          to indemnify the Company and hold it harmless against and from any and
          all liability for any such tax or interest or penalty thereon,
          including without limitation, liabilities relating to the necessity to
          withhold, or to have withheld, any such tax from any payment made to
          the Optionee.

          13   FAILURE TO ENFORCE NOT A WAIVER

                   The failure of the any party to enforce at any time any
          provisions of this Option Agreement shall in no way be construed to be
          a waiver of such provision or of any other provision hereof.

          14   PROVISIONS OF THE OPTION PLAN

                   The Options provided for herein are granted pursuant to the
          Option Plan, and said Options and this Option are in all respects
          governed by the Option Plan and subject to all of the terms and
          provisions whether such terms and provisions are incorporated in this
          Option Agreement solely by reference or are expressly cited herein.

                   Any interpretation of this Option Agreement will be made in
          accordance with the Option Plan and in the event there is any
          contradiction between the provisions of this Option Agreement and the
          Option Plan, the provisions of the Plan will prevail.

          15   BINDING EFFECT

                   This Option Agreement shall be binding upon the heirs,
          executors, administrators, and successors of the parties hereof.

          16   NOTICES

                   Any notice required or permitted under this Option Agreement
          shall be deemed to have been duly given if delivered, faxed or mailed,
          if delivered by certified or registered mail or return receipt
          requested or by electronic mail, either to the Optionee at his or her
          address set forth above or such other address as he or she may
          designate in writing to the Company, or to the Company at one of the
          addresses set forth above or such other

                                      -8-
<PAGE>

          address as the Company may designate in writing to the Optionee,
          within one from time to time.

          17   LOCK-UP PERIOD

                   Optionee acknowledges that once the Company's shares will be
          traded in any public market, the Optionee's right to sell his or her
          Shares may be subject to some limitations, as set forth by the Company
          or its underwriters. In such event, the Optionee will unconditionally
          agree to any such limitations, and shall sign or exercise any
          documentation as may be deemed reasonably necessary by the Company to
          implement such limitation, immediately upon the Company's request.

          18   ENTIRE AGREEMENT

                   The Option Plan, this Option Agreement, and any exhibits
          hereto constitute the entire agreement of the parties hereto with
          respect to the subject matter hereof, and, subject to the provisions
          of Section 20 of the Option Plan, annul and supersede any other prior
          agreement, arrangement or understanding, whether oral or in writing,
          relating to the grant of options to the Optionee. Any change of any
          kind to this Option Agreement will be valid only if made in writing
          and signed by both the Optionee and the Company's authorized member
          and has received the approval of the Board.

IN WITNESS WHEREOF, the Company executed this Option Agreement in duplicate on
the day and year first above written.

XACCT TECHNOLOGIES LTD.

By:
   --------------------------

The undersigned hereby accepts, and agrees to, all terms and provisions of the
foregoing Option Agreement.

-----------------------------
The Optionee

-----------------------------
(type or print name)

                                      -9-
<PAGE>

                                    EXHIBIT B

                             TERMS OF SHARE OPTIONS

1.  Name of the Optionee:
                               ----------------------------------------------

2.  Number of Options granted:
                               ----------------------------------------------

3.  Price per Share:
                               ----------------------------------------------

4.  Expiration Date:            8 years from the Date of Grant
                               ----------------------------------------------
5.  Date of Grant:
                               ----------------------------------------------
6.  Exercisability:             Immediately
                               ----------------------------------------------
7.  Vesting schedule:
                               ----------------------------------------------

     --------------------------------- --------------------------------------
       NUMBER OF SHARES SUBJECT TO                VESTING SCHEDULE
               THE OPTIONS
     --------------------------------- --------------------------------------

     --------------------------------- --------------------------------------

     --------------------------------- --------------------------------------

     --------------------------------- --------------------------------------

     --------------------------------- --------------------------------------

     --------------------------------- --------------------------------------

     --------------------------------- --------------------------------------

OPTIONEE                                     XACCT TECHNOLOGIES  LTD

------------------------------               ---------------------------------
Signature                                    By

------------------------------               ---------------------------------
Print Name                                   Its

                                      -10-
<PAGE>

                                    EXHIBIT C

                             1998 STOCK OPTION PLAN

                                 EXERCISE NOTICE

XACCT Technologies  Ltd.
12 Hachilazon Street
Ramat gan 52522, Israel

Attention: ________________________________________

     1. EXERCISE OF OPTION. Effective as of today, ________________, ____, the
undersigned ("OPTIONEE") hereby elects to exercise Optionee's option (the
"OPTION") to purchase ________________ Voting Ordinary Shares (the "SHARES") of
XACCT Technologies Ltd. (the "COMPANY") under and pursuant to the 1998 Share
Option Plan (the "PLAN") and the Amended and Restated Share Option Agreement
dated ______________, _____ (the "OPTION AGREEMENT").

     2. DELIVERY OF PAYMENT OR DOCUMENTS. Purchaser herewith delivers to the
Company (i) in the event that the options are fully Vested - the full purchase
price of the Shares, as set forth in the Option Agreement, and any and all
withholding taxes due in connection with the exercise of the Option; or, in the
event of an early exercise of options- a duly signed Installment Obligation

     3. REPRESENTATIONS OF OPTIONEE. Optionee acknowledges that Optionee has
received, read and understood the Plan and the Option Agreement and agrees to
abide by and be bound by their terms and conditions.

     4. RIGHTS AS SHAREHOLDER. Until the issuance of the Shares (as evidenced by
the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company), no right to vote or receive dividends or any
other rights as a shareholder shall exist with respect to the Shares subject to
the Option, notwithstanding the exercise of the Option. The Shares shall be
issued to the Optionee as soon as practicable after the Option is exercised in
accordance with the Option Agreement. No adjustment shall be made for a dividend
or other right for which the record date is prior to the date of issuance except
as provided in the Plan.

     5. TAX CONSULTATION. Optionee has reviewed with Optionee's own tax advisors
the federal, state, local and foreign tax consequences of this investment and
the transactions contemplated by the Option. Optionee is relying solely on such
advisors and not on any statements or representations of the Company or any of
its agents. Optionee understands that Optionee (and not the Company) shall be
responsible for Optionee's own tax liability that may arise as a result of this
investment or the transactions contemplated by the Option.

     6. RESTRICTIVE LEGENDS AND STOP-TRANSFER ORDERS.

            (a) LEGENDS. Optionee understands and agrees that the Company shall
cause the legends set forth below or legends substantially equivalent thereto,
to be placed upon any

                                      -11-
<PAGE>

certificate(s) evidencing ownership of the Shares together with any other
legends that may be required by the Company or by applicable laws:

            THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
            SECURITIES ACT OF 1933 (THE "ACT") AND MAY NOT BE OFFERED, SOLD OR
            OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL
            REGISTERED UNDER THE ACT OR, IN THE OPINION OF COMPANY COUNSEL
            SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR
            TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE THEREWITH.

            THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN
            RESTRICTIONS ON TRANSFER AND A RIGHT OF FIRST REFUSAL HELD BY THE
            ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE ISSUER'S ARTICLES OF
            ASSOCIATION, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE
            OF THE ISSUER. SUCH TRANSFER RESTRICTIONS AND RIGHT OF FIRST REFUSAL
            ARE BINDING ON TRANSFEREES OF THESE SHARES.

            (b) STOP-TRANSFER NOTICES. Optionee agrees that the Company may
issue appropriate "stop transfer" instructions to its transfer agent, if any,
and that, if the Company transfers its own securities, it may make appropriate
notations to the same effect in its own records.

            (c) REFUSAL TO TRANSFER. The Company shall not be required to treat
as owner of such Shares or to accord the right to vote or pay dividends to any
purchaser or other transferee to whom such Shares shall have been so
transferred.

     7. SUCCESSORS AND ASSIGNS. The Company may assign any of its rights under
this Exercise Notice to single or multiple assignees, and this Exercise Notice
shall inure to the benefit of the successors and assigns of the Company. Subject
to the restrictions on transfer herein set forth, this Exercise Notice shall be
binding upon Optionee and his or her heirs, executors, administrators,
successors and assigns.

     8. INTERPRETATION. Any dispute regarding the interpretation of this
Exercise Notice shall be submitted by Optionee or by the Company forthwith to
the Board of Directors of the Company which shall review such dispute at its
next regular meeting. The resolution of such a dispute by the Board of Directors
of the Company shall be final and binding on all parties.

     9. GOVERNING LAW; SEVERABILITY. This Exercise Notice is governed by the
laws of the State of Israel. The competent courts of Tel-Aviv, Israel shall have
sole exclusive jurisdiction in any matters pertaining to the Option.

     10. ENTIRE AGREEMENT. The Plan and Option Agreement are incorporated herein
by reference. This Exercise Notice, the Plan, the Restricted Share Purchase
Agreement and related documents, the Option Agreement and the Investment
Representation Statement constitute the entire agreement of the parties with
respect to the subject matter hereof and supersede in their entirety all prior
undertakings and agreements of the Company and Optionee with respect to the
subject matter

                                      -12-
<PAGE>

hereof, and may not be modified adversely to the Optionee's interest except by
means of a writing signed by the Company and Optionee.

Submitted by:                                Accepted by:

OPTIONEE                                     XACCT TECHNOLOGIES LTD.

---------------------------------            ----------------------------------
Signature                                    By

---------------------------------            ----------------------------------
Print Name                                   Its

ADDRESS:                                     ADDRESS:
                                             12 Hachilazon St.
---------------------------------            Ramat Gan 52522, Israel
---------------------------------
---------------------------------

                                             ----------------------------------
                                             Date Received

                                      -13-
<PAGE>

                                   EXHIBIT D-1

                             XACCT TECHNOLOGIES LTD.

                             1998 STOCK OPTION PLAN

                       RESTRICTED SHARE PURCHASE AGREEMENT

     THIS AGREEMENT is made between ____________________________________ (the
"PURCHASER") and XACCT Technologies Ltd. (the "COMPANY") as of
__________________, ____.

                                    RECITALS

     (1) Pursuant to the exercise of the Options granted to Purchaser under the
1998 Stock Option Plan (the "PLAN") and pursuant to the Amended and Restated
Share Option Agreement (the "OPTION AGREEMENT") dated __________________ by and
between the Company and Purchaser with respect to such grant, which Plan and
Option Agreement are hereby incorporated by reference, Purchaser has elected to
purchase ___________________ of those shares which have not become vested under
the vesting schedule set forth in EXHIBIT B to Option Agreement (the "UNVESTED
SHARES") and the Board has approved such purchase.

     (2) As required by the Option Agreement, as a condition to Purchaser's
election to exercise the option as to the Unvested Shares, Purchaser must
execute this Restricted Share Purchase Agreement, which sets forth the rights
and obligations of the parties with respect to Shares acquired upon exercise of
the Options.

     1.   INSTALLMENT OBLIGATION. ESCROW AGREEMENT; VESTING

            (i) The payment of the amounts due pursuant to this Agrement and/or
the installment obligation with respect to the Unvested Shares shall be made in
accordance with the installment obligation executed by the Purchaser and
attached herewith as EXHIBIT I, forming an integral part hereof (the
"INSTALLMENT OBLIGATION")

            (ii) To insure the availability for delivery of Purchaser's Unvested
Shares upon exercise by the Company of the Transfer Option under Section 2
below, Purchaser and the Company hereby irrevocably appoint the Company
secretary, or any other person designated by the Company as Escrow Agent, and
Purchaser further appoints and nominates such Escrow Agent as his
attorney-in-fact to sell, assign and transfer unto the Company or to any other
person as the Company may decide, such Unvested Shares, if any, transferred to
the Escrow and shall, upon execution of this Agreement, deliver and deposit with
the Escrow Agent, the share certificates representing the Unvested Shares,
together with the share assignment duly endorsed in blank, attached hereto as
EXHIBIT D-2. The Unvested Shares and share assignment(s) shall be held by the
Escrow Agent in escrow, pursuant to the Joint Escrow Instructions of the Company
and Purchaser attached as EXHIBIT D-3 hereto and forming an integral part
hereof. As a further condition to the Company's obligations

<PAGE>

under this Agreement, the spouse of the Purchaser, if any, shall execute and
deliver to the Company the Consent of Spouse attached hereto as EXHIBIT D-4.

            (ii) The Company, or its designee and the Escrow Agent shall not be
liable for any act it may do or omit to do with respect to holding the Shares in
escrow and while acting in good faith and in the exercise of its judgment.

            (iii) Shares purchased herein shall vest (subject to continued
employment of Purchaser with the Company) in accordance with the following
schedule:

     --------------------------------- --------------------------------------
       NUMBER OF SHARES SUBJECT TO                VESTING SCHEDULE
               THE OPTIONS
     --------------------------------- --------------------------------------

     --------------------------------- --------------------------------------

     --------------------------------- --------------------------------------

     --------------------------------- --------------------------------------

     --------------------------------- --------------------------------------

     --------------------------------- --------------------------------------

     --------------------------------- --------------------------------------

     The vesting dates set forth above shall be accelerated at any time the
vesting dates pursuant to the Option Plan are accelerated.

     2.   TRANSFER OPTION.

            (a) If (x) Purchaser fails to timely make any of the payments
pursuant to the Installment Obligation or (y) Purchaser's status as an employee
of the Company is terminated for any reason, including (without limitation) for
Cause, death, or disability, the Unvested Shares, as of the date of such
termination, at the Company's option, shall be either forfeited by the Company
or transferred to the trust (the "TRUST") maintained by the Company in
connection with its option program for its Israeli employees (in each case - the
"TRANSFER OPTION"). Upon exercise of the Transfer Option, the portion of
Purchaser's Installment Obligation incurred in connection with the Unvested
Shares shall be canceled.

            (b) Upon the occurrence of a termination, the Company may exercise
the Transfer Option by delivering personally or by registered mail, to the
Escrow Agent, within ninety (90) days of the termination, a notice in writing
indicating the Company's intention to exercise the Transfer Option.

            (c) If the Company does not elect to exercise the Transfer Option
conferred above by giving the requisite notice within the said ninety (90) days
period, the Transfer Option shall terminate, and Purchaser shall be liable to
promptly pay the Company all amounts due and outstanding at such time in respect
of the Shares and any interest accrued thereon in accordance with

                                      -2-
<PAGE>

the provisions of this Agreement, the Installment Obligation and the Company's
Articles of Association.

            (d) The Transfer Option shall not apply to vested and fully paid for
Shares.

     3. TRANSFERABILITY OF THE SHARES;

            (a) The Unvested Shares and/or Shares that the amounts due in
respect thereof pursuant to this Purchase Agreement and/or the Installment
Obligation are not fully paid, shall not be assigned, transferred or given as
collateral or any right with respect to them may not be given to any third party
whatsoever, by the Purchaser until such time that the Unvested Shares or any
part thereof is fully vested and paid for.

            (b) The Transfer or sale of the Shares is subject to restrictions on
transfer imposed by the Company's Articles of Association, the Option Plan and
any applicable state and federal securities laws.

     4. OWNERSHIP, VOTING RIGHTS, DUTIES.

            (a) This Agreement shall not affect in any way the ownership, voting
rights or other rights or duties of Purchaser, except as specifically provided
herein.

            (b) Notwithstanding the above, it is hereby agreed that all
dividends paid on account of the Unvested Shares shall be paid to the Escrow
Agent who shall invest the funds (in case of cash dividends) in a manner that
the Company and the Purchaser shall mutually agree upon from time to time. All
the expenses and the costs of such investments (including without limitations
bank fees, commissions, broker's fees etc.,) shall be borne by the Purchaser and
may be deducted from the funds to be invested. The Escrow Agent shall release
and transfer bonus shares and cash dividends (together with any accrued
interest) upon the transfer of the Shares (or any part thereof) with respect to
which same was distributed, in accordance with the instructions of (i) the
Purchaser (in the event that the Shares are transferred to the Purchaser); or
(ii) the Company (if the Company exercises its Transfer Option.)

     5. LEGENDS. The share certificate evidencing the Shares issued hereunder
shall be endorsed with the following legend (in addition to any legend required
under the Company's Articles of Association and any applicable federal or state
securities laws):

            THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN
            RESTRICTIONS UPON TRANSFER AND RIGHTS OF TRANSFER AS SET FORTH IN AN
            AGREEMENT BETWEEN THE COMPANY AND THE SHAREHOLDER, A COPY OF WHICH
            IS ON FILE WITH THE SECRETARY OF THE COMPANY.

     6. ADJUSTMENT FOR SHARE SPLIT. All references to the number of Shares and
the purchase price of the Shares in this Agreement shall be appropriately
adjusted to reflect any share split, share dividend or other change in the
Shares that may be made by the Company after the date of this Agreement.

                                      -3-
<PAGE>

     7. NOTICES. Notices required hereunder shall be given in accordance with
the provisions of Section 16 of the Amended and Restated Share Option Agreement.

     8. SURVIVAL OF TERMS. This Agreement shall apply to and bind Purchaser and
the Company and their respective permitted assignees and transferees, heirs,
legatees, executors, administrators and legal successors.

     9. SECTION 83(B) ELECTION. Purchaser hereby acknowledges that he or she has
been informed that, with respect to the exercise of an Option for unvested
Shares, an election may be filed by the Purchaser with the Internal Revenue
Service, within 30 days of the purchase of the Shares, electing pursuant to
Section 83(b) of the Internal Revenue Code of 1986, as amended (the "CODE"), to
be taxed currently on any difference between the purchase price of the Shares
and their Fair Market Value on the date of purchase. In the case of a
Nonstatutory Share Option, this may result in a recognition of taxable income to
the Purchaser on the date of exercise, measured by the excess, if any, of the
fair market value of the Shares, at the time the Options are exercised over the
purchase price for the Shares. Absent such an election, taxable income will be
measured and recognized by Purchaser at the time or times on which the Company's
Transfer Option lapses. Purchaser is strongly encouraged to seek the advice of
his or her own tax consultants in connection with the purchase of the Shares and
the advisability of filing of the Election under Section 83(b) of the Code. A
form of Election under Section 83(b) of the Code is attached hereto as EXHIBIT
D-5 for reference.

         PURCHASER ACKNOWLEDGES THAT IT IS PURCHASER'S SOLE RESPONSIBILITY AND
NOT THE COMPANY'S TO FILE TIMELY THE ELECTION UNDER SECTION 83(b).

     10. REPRESENTATIONS. Purchaser has reviewed with his own tax advisors the
federal, state, local and foreign tax consequences of this investment and the
transactions contemplated by this Agreement. Purchaser is relying solely on such
advisors and not on any statements or representations of the Company or any of
its agents. Purchaser understands that he or she (and not the Company) shall be
responsible for his or her own tax liability that may arise as a result of this
investment or the transactions contemplated by this Agreement.

     11. GOVERNING LAW. This Agreement shall be governed by the laws of the
State of Israel.

     Purchaser represents that he or she has read this Agreement and is familiar
with its terms and provisions. Purchaser hereby agrees to accept as binding,
conclusive and final all decisions or interpretations of the Board upon any
questions arising under this Agreement.

                                      -4-
<PAGE>

     IN WITNESS WHEREOF, this Agreement is deemed made as of the date first set
forth above.

                   COMPANY

                   XACCT TECHNOLOGIES LTD.

                   ---------------------------------------------
                   By

                   ---------------------------------------------
                   Title

                   PURCHASER

                   ---------------------------------------------
                   Signature

                   ---------------------------------------------
                   Printed Name

                   ---------------------------------------------
                   Social Security Number

                   ADDRESS:

                   ---------------------------------------------

                   ---------------------------------------------

                                      -5-
<PAGE>

                                   EXHIBIT D-2

                      ASSIGNMENT SEPARATE FROM CERTIFICATE

                              (SHARE TRANSFER DEED)

     FOR VALUE RECEIVED I, __________________________, hereby sell, assign and
transfer unto _______________________,. ______________________ (__________)
Voting Ordinary Shares of XACCT Technologies Ltd. standing in my name of the
books of said company represented by Certificate No. _____ herewith and do
hereby irrevocably constitute and appoint _____________________________ to
transfer the said shares on the books of the within named company with full
power of substitution in the premises.

     This Share Transfer Deed may be used only in accordance with the Restricted
Share Purchase Agreement between XACCT Technologies Ltd. and the undersigned
dated ______________, ____.

Dated: _______________, ____

                  Signature:
                              ------------------------------------

                         Name:
                              ------------------------------------

                  Witnessed by:
                              ------------------------------------

                         Name:
                              ------------------------------------

                         Date:
                              ------------------------------------

<PAGE>

INSTRUCTIONS: Please do not fill in any blanks other than the signature line.
The purpose of this assignment is to enable the Company to exercise its
"transfer option," as set forth in the Agreement, without requiring additional
signatures on the part of the Purchaser.

                                      -2-
<PAGE>

                                   EXHIBIT D-3

                            JOINT ESCROW INSTRUCTIONS

________________, ______

Charles B. Gottlieb, Advocate

S. Friedman & Co, Advocate
3 Daniel Frisch Street
Tel Aviv, Israel

Dear ____________:

     As Escrow Agent for both XACCT Technologies Ltd. (the "COMPANY"), and the
undersigned purchaser of Voting Ordinary Shares of the Company (the
"PURCHASER"), you are hereby irrevocably authorized and directed to hold the
documents delivered to you pursuant to the terms of that certain Restricted
Share Purchase Agreement ("AGREEMENT") between the Company and the undersigned,
in accordance with the following instructions:

     1. In the event the Company and/or any assignee of the Company (referred to
collectively for convenience herein as the "COMPANY") exercises the Company's
Transfer Option (as defined and set forth in the Agreement), the Company shall
give to Purchaser and you a written notice specifying the number of shares to be
transferred to the Trust, to the Company or to any other third party as may be
directed by the Board of Directors of the Company (the "BOARD"). Purchaser and
the Company hereby irrevocably authorize and direct you to close the transaction
contemplated by such notice in accordance with the terms of said notice.

     2. At the closing, you are directed (a) to date the share assignments
necessary for the transfer in question, (b) to fill in the number of shares
being transferred, and (c) to deliver same, together with the certificate
evidencing the shares to be transferred, to the Trust or its assignee, to the
Company or to such other third party.

     3. Purchaser irrevocably authorizes the Company to deposit with you any
certificates evidencing shares to be held by you hereunder and any additions and
substitutions to said shares as defined in the Agreement. Purchaser does hereby
irrevocably constitute and appoint you as Purchaser's attorney-in-fact and agent
for the term of this escrow to execute with respect to such securities all
documents necessary or appropriate to make such securities negotiable and to
complete any transaction herein contemplated, including but not limited to the
filing with any applicable state blue sky authority of any required applications
for consent to, or notice of transfer of, the securities. Subject to the
provisions of this paragraph 3, Purchaser shall exercise all rights and
privileges of a shareholder of the Company while the share is held by you.

     4. Purchaser irrevocably authorizes the Company to deposit with you any
dividends distributed by the Company (whether in cash or in kind) with respect
to the Unvested Shares. Such

<PAGE>

funds (in case of cash dividends) shall be invested by you in accordance with a
written instructions, signed by the Company and the Purchaser, received by you
from time to time. All the expenses and the costs of such investments (including
without limitations bank fees, commissions, broker's fees etc.,) shall be borne
initially by the Purchaser and may be deducted from the funds to be invested.
You shall release and transfer bonus shares and cash dividends (together with
any accrued interest) upon the transfer of the Shares (or any part thereof) with
respect to which same was distributed, in accordance with the instructions of
(i) the Purchaser- in the event that the Shares are transferred to the Purchaser
or in accordance with his or her instructions; or (ii) the Company- if the
Company exercises its Transfer Option.

     5. Upon written request of the Purchaser, unless the Company's Transfer
Option has been exercised, and provided that all the amounts due with respect to
the Vested Shares pursuant to this Purchase Agreement and/or the Installment
Obligation have been fully paid, you will deliver to Purchaser a certificate or
certificates representing so many Shares as are not then subject to the
Company's Transfer Option. Within 120 days after cessation of Purchaser's
continuous employment by the Company, or any parent or subsidiary of the
Company, you will deliver to Purchaser a certificate or certificates
representing the aggregate number of vested and fully paid for shares held or
issued pursuant to the Agreement and not transferred pursuant to exercise of the
Company's Transfer Option.

     6. If at the time of termination of this escrow you should have in your
possession any documents, securities, or other property belonging to Purchaser,
you shall deliver all of the same to Purchaser and shall be discharged of all
further obligations hereunder.

     7. Your duties hereunder may be altered, amended, modified or revoked only
by a writing signed by all of the parties hereto.

     8  You shall be obligated only for the performance of such duties as are
specifically set forth herein and may rely and shall be protected in relying or
refraining from acting on any instrument reasonably believed by you to be
genuine and to have been signed or presented by the proper party or parties. You
shall not be personally liable for any act you may do or omit to do hereunder as
Escrow Agent or as attorney-in-fact for Purchaser while acting in good faith,
and any act done or omitted by you pursuant to the advice of your own attorneys
shall be conclusive evidence of such good faith. Anything herein to the contrary
notwithstanding, you shall not be liable for special, indirect or consequential
loss or damage of any kind (including but not limited to lost profit) even if
the you have been advised of the likelihood of such loss or damage and
regardless of the form of action.

     9. You are hereby expressly authorized to disregard any and all warnings
given by any of the parties hereto or by any other person or corporation,
excepting only orders or process of courts of law and are hereby expressly
authorized to comply with and obey orders, judgments or decrees of any court. In
case you obey or comply with any such order, judgment or decree, you shall not
be liable to any of the parties hereto or to any other person, firm or
corporation by reason of such compliance, notwithstanding any such order,
judgment or decree being subsequently reversed, modified, annulled, set aside,
vacated or found to have been entered without jurisdiction.

                                      -2-
<PAGE>

     10. Your obligations as Escrow Agent are those specifically provided herein
and you shall have no liability, or duty to inquire into, the terms and
provisions of any agreement among the other parties hereto including the
Agreement.

     11. You shall not be liable in any respect on account of the identity,
authorities or rights of the parties executing or delivering or purporting to
execute or deliver the Agreement or any documents or papers deposited or called
for hereunder. You shall not have any responsibility for the geniuses or
validity of any document or other item deposited with you or of any signature
thereon and shall not have any liability for acting in accordance with any
written instructions or certificates given to you hereunder and believed by you
to be properly signed.

     12. You shall not be liable for the outlawing of any rights under the
Statute of Limitations with respect to these Joint Escrow Instructions or any
documents deposited with you.

     13. You shall be entitled to employ such legal counsel and other experts as
you may deem necessary properly to advise you in connection with your
obligations hereunder, may rely upon the advice of such counsel, and may pay
such counsel reasonable compensation therefor. The Company shall hold you
harmless and indemnify you against any and all expenses, claims, losses, damages
or liabilities (a "LOSS") that may be incurred by you arising out of or in
connection with the performance of your obligation pursuant to this Agreement
provided such Loss or action are not arising out of the gross negligence or
willful misconduct on your part.

     14. Your responsibilities as Escrow Agent hereunder shall terminate if you
shall cease to be an officer or agent of the Company or if you shall resign by
written notice to each party. In the event of any such termination, the Company
shall appoint a successor Escrow Agent.

     15. If you reasonably require other or further instruments in connection
with these Joint Escrow Instructions or obligations in respect hereto, the
necessary parties hereto shall join in furnishing such instruments.

     16. It is understood and agreed that should any dispute arise with respect
to the delivery and/or ownership or right of possession of the securities held
by you hereunder, you are authorized and directed to retain in your possession
without liability to anyone all or any part of said securities until such
disputes shall have been settled either by mutual written agreement of the
parties concerned or by a final order, decree or judgment of a court of
competent jurisdiction after the time for appeal has expired and no appeal has
been perfected, but you shall be under no duty whatsoever to institute or defend
any such proceedings.

     17. Any notice required or permitted hereunder shall be given in writing
and shall be deemed effectively given upon personal delivery or upon deposit in
the United States Post Office, by registered or certified mail with postage and
fees prepaid, addressed to each of the other parties thereunto entitled at the
following addresses or at such other addresses as a party may designate by ten
days' advance written notice to each of the other parties hereto.

                                      -3-
<PAGE>

THE COMPANY:                    XACCT Technologies Ltd.
                                12 Hachilazon Street
                                Ramat Gan, Israel
                                Attention:  Chief Financial Officer

                                       Or

                                XACCT Technologies Ltd.
                                2900 Lakeside Drive
                                Santa Clara, CA  95054 USA
                                Attention: Chief Financial Officer

                  PURCHASER:
                                ------------------------------------------

                                ------------------------------------------

                                ------------------------------------------

                  Fax Number:
                                ------------------------------------------

                  E- Mail:
                                ------------------------------------------

                  ESCROW AGENT: Charles B. Gottlieb Advocate
                                S. Friedman & Co., Advocates and Notaries
                                3 Daniel Frisch Street
                                Tel Aviv, Israel

     17. By signing these Joint Escrow Instructions, you become a party hereto
only for the purpose of said Joint Escrow Instructions; you do not become a
party to the Agreement.

     18. This instrument shall be binding upon and inure to the benefit of the
parties hereto, and their respective successors and permitted assigns.

     19. These Joint Escrow Instructions shall be governed by the internal
substantive laws of the State of Israel.

                                      -4-
<PAGE>

                   XACCT TECHNOLOGIES LTD.

                   ---------------------------------------------
                   By

                   ---------------------------------------------
                   Title

                   THE PURCHASER

                   ---------------------------------------------
                   Signature

                   ---------------------------------------------
                   Typed or Printed Name

                   THE ESCROW AGENT

                   ---------------------------------------------
                   Company Secretary

                                      -5-
<PAGE>

                                   EXHIBIT D-4

                                CONSENT OF SPOUSE

     I, _______________________________, spouse of ___________________________,
have read and approve the foregoing Agreement. In consideration of granting of
the right to my spouse to purchase shares of ____________________________, as
set forth in the Agreement, I hereby appoint my spouse as my attorney-in-fact in
respect to the exercise of any rights under the Agreement and agree to be bound
by the provisions of the Agreement insofar as I may have any rights in said
Agreement or any shares issued pursuant thereto under the community property
laws or similar laws relating to marital property in effect in the state of our
residence as of the date of the signing of the foregoing Agreement.

Dated:
       ------------------------     --------------------------------------
                                    Signature

<PAGE>

                                   EXHIBIT D-5

                          ELECTION UNDER SECTION 83(B)
                      OF THE INTERNAL REVENUE CODE OF 1986

     The undersigned taxpayer hereby elects, pursuant to Sections 55 and 83(b)
of the Internal Revenue Code of 1986, as amended, to include in taxpayer's gross
income or alternative minimum taxable income, as the case may be, for the
current taxable year the amount of any compensation taxable to taxpayer in
connection with taxpayer's receipt of the property described below:

1.   The name, address, taxpayer identification number and taxable year of the
     undersigned are as follows:

     NAME:                          TAXPAYER ID #:
          ------------------------                -------------------------

     ADDRESS:
             --------------------------------------------------------------

     IDENTIFICATION #:              TAXABLE YEAR:
                      ------------                -------------------------

     SPOUSE:                        TAXPAYER ID #:
          ------------------------                -------------------------

     ADDRESS:
             --------------------------------------------------------------

     IDENTIFICATION #:              TAXABLE YEAR:
                      ------------                -------------------------

2.   The property with respect to which the election is made is described as
     follows: _____________ Voting Ordinary Shares (the "Shares") of XACCT
     Technologies Ltd. (the "Company").

3.   The date on which the property was transferred is: ______________________.

4.   The property is subject to the following restrictions:

     The Shares may not be transferred and are subject to forfeiture under the
     terms of an agreement between the taxpayer and the Company. These
     restrictions lapse upon the satisfaction of certain conditions contained in
     such agreement.

5.   The fair market value at the time of transfer, determined without regard to
     any restriction other than a restriction which by its terms will never
     lapse, of such property is: $______________________.

6.   The amount (if any) paid for such property is: $______________________.

     The undersigned has submitted a copy of this statement to the person for
whom the services were performed in connection with the undersigned's receipt of
the above-described property. The transferee of such property is the person
performing the services in connection with the transfer of said property.

<PAGE>

     THE UNDERSIGNED UNDERSTANDS THAT THE FOREGOING ELECTION MAY NOT BE REVOKED
EXCEPT WITH THE CONSENT OF THE COMMISSIONER.

Dated:
      --------------------------           --------------------------------
                                           Taxpayer

The undersigned spouse of taxpayer joins in this election.

Dated:
      --------------------------           --------------------------------
                                           Spouse of Taxpayer

IN ADDITION TO KEEPING A COPY FOR YOURSELF, SEND ONE (1) COPY EACH TO THE
COMPANY AND TO YOUR IRS SERVICE CENTER*:

THE COMPANY:                  INTERNAL REVENUE SERVICE:

XACCT TECHNOLOGIES LTD.       *The 83b election should be filed with the IRS
2900 LAKESIDE DRIVE           service center where you normally file your tax
SANTA CLARA, CA  95054 USA    return.  For residents of Alameda, San Mateo and
ATTENTION:  TREASURER         Santa Clara Counties, the address is:

                              INTERNAL REVENUE SERVICE CENTER
                              FRESNO, CA  93888

                                      -2-
<PAGE>

                                    EXHIBIT E

                             XACCT TECHNOLOGIES LTD.

                             1998 STOCK OPTION PLAN

                       INVESTMENT REPRESENTATION STATEMENT

OPTIONEE :
               -------------------------------

COMPANY  :     XACCT TECHNOLOGIES LTD.

SECURITY :     VOTING ORDINARY SHARES

AMOUNT   :
               -------------------------------

DATE     :
               -------------------------------

     In connection with the purchase of the above-listed securities (the
"SECURITIES"), the undersigned Optionee represents to the Company the following:

1.   Optionee is aware of the Company's business affairs and financial condition
     and has acquired sufficient information about the Company to reach an
     informed and knowledgeable decision to acquire the Securities.

2.   Optionee acknowledges and understands that the Securities constitute
     "restricted securities" under the Securities Act of 1933, as amended (the
     "SECURITIES ACT") and have not been registered under the Securities Act in
     reliance upon a specific exemption therefrom. Optionee further understands
     that the Securities may not be transferred in the United States for an
     indefinite period of time, unless they are subsequently registered under
     the Securities Act or an exemption from such registration is available.
     Optionee further acknowledges and understands that the Company is under no
     obligation to register the Securities. Optionee understands that any
     receipt evidencing the Securities will be imprinted with a legend that
     prohibits the transfer of the Securities in the United States, unless they
     are registered or such registration is not required in the opinion of
     counsel satisfactory to the Company.

3.   Optionee is familiar with the provisions of Rule 701 and Rule 144, each
     promulgated under the Securities Act, which, in substance, permits limited
     public resale of "restricted securities" in the United States acquired,
     directly or indirectly from the issuer thereof, in a non-public offering
     subject to the satisfaction of certain conditions. Rule 701 provides that
     if the issuer qualifies under Rule 701 at the time of the grant of the
     Option to the Optionee, the exercise will be exempt from registration under
     the Securities Act. In the event the Company becomes subject to the
     reporting requirements of Section 13 or 15(d) of the Securities Exchange
     Act of 1934, as amended, ninety (90) days thereafter (or such longer period
     as any market stand-off agreement may require) the Securities exempt under
     Rule 701 may be

<PAGE>

     resold in the United States, subject to the satisfaction of certain of the
     conditions specified by Rule 144, including: (1) the resale being made
     through a broker in an unsolicited "broker's transaction" or in
     transactions directly with a market maker (as said term is defined under
     the Securities Exchange Act of 1934); and, in the case of an affiliate, (2)
     the availability of certain public information about the Company, (3) the
     amount of Securities being sold during any three month period not exceeding
     the limitations specified in Rule 144(e), and (4) the timely filing of a
     Form 144, if applicable.

     In the event that the Securities do not qualify under Rule 701 at the time
     of grant, then the Securities may be resold in the United States only under
     certain limited circumstances subject to the provisions of Rule 144, which
     requires the resale to occur not less than two years after the later of the
     date the Securities were sold by the Company or the date the Securities
     were sold by an "affiliate" of the Company, within the meaning of Rule 144;
     and, in the case of acquisition of the Securities by an affiliate, or by a
     non-affiliate who subsequently holds the Securities less than three years,
     the satisfaction of the conditions set forth in section (1), (2), (3), and
     (4) of the paragraph immediately above.

4.   Optionee further understands that in the event all of the applicable
     requirements of Rule 701 or 144 are not satisfied, registration under the
     Securities Act, compliance with Regulation A, or some other registration
     exemption will be required; and that, notwithstanding the fact that Rules
     144 and 701 are not exclusive, the Staff of the Securities and Exchange
     Commission has expressed its opinion that persons proposing to sell private
     placement securities in the United States other than in a registered
     offering and otherwise than pursuant to Rules 144 or 701 will have a
     substantial burden of proof in establishing that an exemption from
     registration is available for such offers or sales, and that such persons
     and their respective brokers who participate in such transactions do so at
     their own risk. Optionee understands that no assurances can be given that
     any such other registration exemption will be available in such event.

                                 Signature of Optionee:

                                 -------------------------------

                                 Date:
                                       -------------------------

                                      -2-
<PAGE>

     _________, ____, _________
     XACCT Technologies Ltd.
     12 Hachilazon Street
     Ramat Gan, Israel

                           RE: INSTALLMENT OBLIGATION

     Pursuant to the exercise of the Options granted to the undersigned under
the Option Plan (the "PLAN") and pursuant to the Amended and Restated Share
Option Agreement (the "OPTION AGREEMENT") dated ____________________ by and
between the parties hereto with respect to such grant, which Plan and Option
Agreement are hereby incorporated by reference, I hereby confirm and undertake
as follows:

     1. The payment of the amounts due as a result of the early exercise of the
options (the "PAYMENT") shall be made in installments in accordance with the
following terms and conditions:

     (a) The Payment shall bear interest at the rate of 6.5% per annum (the
"INTEREST") accumulating on an annual basis as of the date of exercise of such
Options and until the date of actual payment. The Payment and any Interest
accrued thereon shall be paid in cash or by check to the Escrow Agent (as such
term is defined in the Restricted Share Purchase Agreement of even date among
the parties hereto (the "PURCHASE AGREEMENT") upon the vesting date of each
portion of the shares deposited in Escrow pursuant to the provisions of Section
1 (iii) of the Purchase Agreement.

     (b) Notwithstanding the above, the payment of the balance may be deferred
by me, at my election, but not to a date later than the earlier of; (i)
immediately prior to the delivery of the applicable certificate or certificates
representing the Vested Shares (as such Term is defined in Section 2 (b) below),
or any part thereof, to the me or to the broker designated by me in writing; or
(ii) the termination, for any reason, of my employment with the Company.

     2. I understand and agree as follows:

     (a) I may not make any early payment of any amount due under this
Installment Obligation or pursuant to the Purchase Agreement without the prior
written approval of the Company.

     (b) Until payment in full of the Payment and any Interest accrued thereon,
the Shares (as such term is defined in the Plan) shall remain deposited in
escrow, and, notwithstanding the provisions of the Joint Escrow Instructions,
attached as EXHIBIT D-2 to the Option Agreement, and dated of even date, the
Escrow Agent shall not be allowed to deliver any certificate or certificates
representing Shares, even if these Shares are fully vested. Until all amounts
due and outstanding in respect such Vested Shares (as defined below) pursuant to
this Installment Obligation and /or the Purchase Agreement are fully paid for
such Vested Shares shall be subject to the Company's Transfer Option. Shares
with respect to which the vesting period has elapsed but which have not yet been
paid for in full are referred to herein as the "VESTED SHARES".

     3. Furthermore and without derogating from the Company's right of
forfeiture pursuant to the Company's Articles of Association, as may be amended
from time to time (the "ARTICLES"), I hereby understand and agree that the
Company shall have a first and paramount lien on every Share, , including a
Vested Share, for all monies, payable in respect of that Share, as set forth
herein. Such

                                      -3-
<PAGE>

lien shall be in effect and may be exercised in accordance with the provisions
of the Articles. Neither the provision of this Installment Obligation and the
Purchase Agreement nor the Joint Escrow Instructions shall derogate from the
Company's right to collect the full payment of all moneys payable in respect of
any Share as provided herein and in the Articles. Notwithstanding anything to
the contrary in the Company's Articles, I agree that if the Company exercises
its Transfer Option or exercises such lien with respect to the Unvested Shares,
I shall not be entitled to any monies paid to the Company in consideration for
the resale of such Shares including the balance remaining after applying the net
proceeds of any such sale, after payment of the costs thereof, toward
satisfaction of my debts to the Company.

     4. Notwithstanding the above, upon the earlier of (i) termination of my
employment with the Company, whether for Cause or not for Cause (as such term is
defined in the Plan), or (ii) the elapse of five (5) year period commencing upon
the date hereof all monies (including Interest) payable in respect to any Vested
Share as set forth herein shall immediately be paid by me to the Company.

     6. All terms used herein and not otherwise defined shall have the meaning
attached to them in the Purchase Agreement.

                                                            Sincerely yours,

                                                  ------------------------
                                                    signature

                                                  ------------------------
                                                    name

         Confirmed and Approved

         --------------------------------------
         XACCT Technologies Ltd.

                                      -4-
<PAGE>

                                      PROXY

     I, the undersigned being a Voting Ordinary shareholder of XACCT
Technologies Ltd. ("the COMPANY"), do hereby appoint Charles B. Gottlieb, Adv.,
the trustee under the early exercise option arrangement, as my agent and proxy
to: (i) vote on my behalf all my share holding in the Company; and (ii) receive
on my behalf all notices relating to the Company including without derogation
from the generality of the above any notices of any shareholders meeting
(annual, general or extraordinary), first refusal rights, first offer rights,
pre-emptive rights or any other rights under the Articles of Association or any
agreement, and for as long as this Proxy is effective. Any notice received by
Charles B. Gottlieb, Adv. shall be deemed received by the undersigned.

     I hereby instruct the Company to act according to this Proxy as detailed
above and hereby declare that any right I may have as a holder of the Company's
Voting Ordinary shares may be exercised only by Charles B. Gottlieb, Adv.

     This Proxy shall automatically expire upon the effectuation of an initial
public offering of the Company's securities.

     Signature:
                        --------------------------------

     Name (printed):
                        --------------------------------

     Dated:
                        --------------------------------

     Witnessed by:

     Signature:
                        --------------------------------

     Name (printed):
                        --------------------------------

     Dated:
                        --------------------------------

                                      -5-<PAGE>

                                                                    EXHIBIT 10.4

                             XACCT TECHNOLOGIES LTD.

                        2000 EMPLOYEE SHARE PURCHASE PLAN

     1.   PURPOSE. The purpose of the Plan is to provide employees of the
Company and its Designated Subsidiaries with an opportunity to purchase Ordinary
Shares of the Company through accumulated payroll deductions. It is the
intention of the Company to have the Plan qualify as an "Employee Share Purchase
Plan" under Section 423 of the Internal Revenue Code of 1986, as amended. The
provisions of the Plan, accordingly, shall be construed so as to extend and
limit participation in a manner consistent with the requirements of that section
of the Code.

     2.   DEFINITIONS.

          (a)  "BOARD" shall mean the Board of Directors of the Company.

          (b)  "CODE" shall mean the Internal Revenue Code of 1986, as amended.

          (c) "COMPANY" shall mean XACCT Technologies Ltd., a corporation
incorporated under the laws of the State of Israel.

          (d) "COMPENSATION" shall mean all base straight time gross earnings,
commissions and bonuses but exclusive of overtime, shift premium, incentive
compensation, incentive payments and other compensation.

          (e) "DESIGNATED SUBSIDIARY" shall mean any Subsidiary that has been
designated by the Board from time to time in its sole discretion as eligible to
participate in the Plan.

          (f) "EMPLOYEE" shall mean any individual who is an Employee of the
Company or a Designated Subsidiary for tax purposes whose customary employment
is at least twenty (20) hours per week and more than five (5) months in any
calendar year. For purposes of the Plan, the employment relationship shall be
treated as continuing intact while the individual is on sick leave or other
leave of absence approved by his or her employer. Where the period of leave
exceeds 90 days and the individual's right to reemployment is not guaranteed
either by statute or by contract, the employment relationship shall be deemed to
have terminated on the 91st day of such leave.

          (g) "ENROLLMENT DATE" shall mean the first Trading Day of each
Offering Period.

          (h) "EXERCISE DATE" shall mean the first Trading Day on or after April
30 and October 31 of each year.

          (i) "FAIR MARKET VALUE" shall mean, as of any date, the value of a
Share determined as follows:

<PAGE>

               (1) If the Shares are listed on any established stock exchange or
a national market system, including without limitation the Nasdaq National
Market or The Nasdaq SmallCap Market of The Nasdaq Stock Market, their Fair
Market Value shall be the closing sales price for such Shares (or the closing
bid, if no sales were reported) as quoted on such exchange or system on the day
of determination, as reported in THE WALL STREET JOURNAL or such other source as
the Board deems reliable, or;

               (2) If the Shares are regularly quoted by a recognized securities
dealer but selling prices are not reported, their Fair Market Value shall be the
mean of the closing bid and asked prices for the Shares on the day of
determination, as reported in THE GLOBES, HAARETZ or such other source as the
Board deems reliable, or;

               (3) In the absence of an established market for the Shares, the
Fair Market Value thereof shall be determined in good faith by the Board; or

               (4) For purposes of the Enrollment Date of the first Offering
Period under the Plan, the Fair Market Value shall be the initial price to the
public as set forth in the final prospectus included within the registration
statement in Form S-1 filed with the Securities and Exchange Commission for the
initial public offering of the Company's Shares (the "Registration Statement").

          (j) "OFFERING PERIODS" shall mean the periods of approximately
twenty-four (24) months during which an option granted pursuant to the Plan may
be exercised, commencing on the first Trading Day on or after May 1 and November
1 of each year and terminating on the first Trading Day on or after the May 1
and November 1 Offering Period commencement date approximately twenty-four
months later; provided, however, that the first Offering Period under the Plan
shall commence with the first Trading Day on or after the date on which the
Securities and Exchange Commission declares the Company's Registration Statement
effective and ending on the first Trading Day on or after October 31, 2002. The
duration and timing of Offering Periods may be changed pursuant to Section 4 of
this Plan.

          (k) "PLAN" shall mean this Employee Share Purchase Plan.

          (l) "PURCHASE PERIOD" shall mean the approximately six month period
commencing on one Exercise Date and ending with the next Exercise Date, except
that the first Purchase Period of any Offering Period shall commence on the
Enrollment Date and end with the next Exercise Date.

          (m) "PURCHASE PRICE" shall mean an amount equal to 85% of the Fair
Market Value of a Share on the Enrollment Date or on the Exercise Date,
whichever is lower; provided, however, that the Purchase Price may be adjusted
by the Board pursuant to Section 20.

          (n) "RESERVES" shall mean the number of Shares covered by each option
under the Plan which have not yet been exercised and the number of Shares which
have been authorized for issuance under the Plan but not yet placed under
option.

          (o) "SHARE" means a share of the Company's Ordinary Shares having a
nominal value of 0.04 NIS, as adjusted in accordance with Section 19 below.

                                       2
<PAGE>

          (p) "SUBSIDIARY" shall mean a corporation, domestic or foreign, of
which not less than 50% of the voting shares are held by the Company or a
Subsidiary, whether or not such corporation now exists or is hereafter organized
or acquired by the Company or a Subsidiary.

          (q) "TRADING DAY" shall mean a day on which national stock exchanges
and the Nasdaq System are open for trading.

     3.   ELIGIBILITY.

          (a) Any Employee who shall be employed by the Company or a Designated
Subsidiary on a given Enrollment Date shall be eligible to participate in the
Plan.

          (b) Any provisions of the Plan to the contrary notwithstanding, no
Employee shall be granted an option under the Plan (i) to the extent that,
immediately after the grant, such Employee (or any other person whose shares
would be attributed to such Employee pursuant to Section 424(d) of the Code)
would own capital shares of the Company and/or hold outstanding options to
purchase such shares possessing five percent (5%) or more of the total combined
voting power or value of all classes of the capital shares of the Company or of
any Subsidiary, or (ii) to the extent that his or her rights to purchase shares
under all employee share purchase plans of the Company and its subsidiaries
accrues at a rate which exceeds Twenty-Five Thousand Dollars ($25,000) worth of
shares (determined at the fair market value of the shares at the time such
option is granted) for each calendar year in which such option is outstanding at
any time.

     4.   The Plan shall be implemented by consecutive, overlapping Offering
Periods with a new Offering Period commencing on the first Trading Day on or
after May 1 and November 1 each year, or on such other date as the Board shall
determine, and continuing thereafter until terminated in accordance with Section
20 hereof; provided, however, that the first Offering Period under the Plan
shall commence with the first Trading Day on or after the date on which the
Securities and Exchange Commission declares the Company's Registration Statement
effective and ending on the first Trading Day on or after October 31, 2002. The
Board shall have the power to change the duration of Offering Periods (including
the commencement dates thereof) with respect to future offerings without
shareholder approval if such change is announced at least five (5) days prior to
the scheduled beginning of the first Offering Period to be affected thereafter.

     5.   PARTICIPATION.

          (a) An eligible Employee may become a participant in the Plan by
completing a subscription agreement authorizing payroll deductions in the form
of EXHIBIT A to this Plan and filing it with the Company's payroll office prior
to the applicable Enrollment Date.

          (b) Payroll deductions for a participant shall commence on the first
payroll following the Enrollment Date and shall end on the last pay day in the
Offering Period to which such authorization is applicable, unless sooner
terminated by the participant as provided in Section 10 hereof.

                                       3
<PAGE>

     6.   PAYROLL DEDUCTIONS.

          (a) At the time a participant files his or her subscription agreement,
he or she shall elect to have payroll deductions made on each pay day during the
Offering Period in an amount not exceeding fifteen percent (15%) of the
Compensation which he or she receives on each pay day during the Offering
Period.

          (b) All payroll deductions made for a participant shall be credited to
his or her account under the Plan and shall be withheld in whole percentages
only. A participant may not make any additional payments into such account.

          (c) A participant may discontinue his or her participation in the Plan
as provided in Section 10 hereof, or may increase or decrease the rate of his or
her payroll deductions during the Offering Period by completing or filing with
the Company a new subscription agreement authorizing a change in payroll
deduction rate. The Board may, in its discretion, limit the number of
participation rate changes during any Offering Period. The change in rate shall
be effective with the first full payroll period following five (5) business days
after the Company's receipt of the new subscription agreement unless the Company
elects to process a given change in participation more quickly. A participant's
subscription agreement shall remain in effect for successive Offering Periods
unless terminated as provided in Section 10 hereof.

          (d) Notwithstanding the foregoing, to the extent necessary to comply
with Section 423(b)(8) of the Code and Section 3(b) hereof, a participant's
payroll deductions may be decreased to zero percent (0%) at any time during an
Offering Period. Payroll deductions shall recommence at the rate provided in
such participant's subscription agreement at the beginning of the first Offering
Period which is scheduled to end in the following calendar year, unless
terminated by the participant as provided in Section 10 hereof.

          (e) At the time the option is exercised, in whole or in part, or at
the time some or all of the Company's Shares issued under the Plan are disposed
of, the participant must make adequate provision for the Company's or Designated
Subsidiary's federal, state, or other tax withholding obligations, if any, which
arise upon the exercise of the option or the disposition of the Shares. At any
time, the Company or Designated Subsidiary may, but shall not be obligated to,
withhold from the participant's compensation the amount necessary for the
Company to meet applicable withholding obligations, including any withholding
required to make available to the Company or any Designated Subsidiary any tax
deductions or benefits attributable to sale or early disposition of Shares by
the Employee.

     7.   GRANT OF OPTION. On the Enrollment Date of each Offering Period, each
eligible Employee participating in such Offering Period shall be granted an
option to purchase on the Exercise Date of such Offering Period (at the
applicable Purchase Price) up to a number of Shares determined by dividing such
Employee's payroll deductions accumulated prior to such Exercise Date and
retained in the Participant's account as of the Exercise Date by the applicable
Purchase Price; provided that in no event shall an Employee be permitted to
purchase during each Offering Period more than 5,000 Shares (subject to any
adjustment pursuant to Section 19), and provided further that such purchase
shall be subject to the limitations set forth in Sections 3(b) and 12 hereof.
Exercise of the option shall occur as

                                       4
<PAGE>

provided in Section 8 hereof, unless the participant has withdrawn pursuant to
Section 10 hereof. The Option shall expire on the last day of the Offering
Period.

     8.   EXERCISE OF OPTION. Unless a participant withdraws from the Plan as
provided in Section 10 hereof, his or her option for the purchase of Shares
shall be exercised automatically on the Exercise Date, and the maximum number of
full Shares subject to option shall be purchased for such participant at the
applicable Purchase Price with the accumulated payroll deductions in his or her
account. No fractional Shares shall be purchased; any payroll deductions
accumulated in a participant's account which are not sufficient to purchase a
full Share shall be retained in the participant's account for the subsequent
Offering Period, subject to earlier withdrawal by the participant as provided in
Section 10 hereof. Any other monies left over in a participant's account after
the Exercise Date shall be returned to the participant. During a participant's
lifetime, a participant's option to purchase Shares hereunder is exercisable
only by him or her.

     9.   DELIVERY. As promptly as practicable after each Exercise Date on which
a purchase of shares occurs, the Company shall arrange the delivery to each
participant, as appropriate, the Shares purchased upon exercise of his or her
option.

     10.  WITHDRAWAL.

          (a) A participant may withdraw all but not less than all the payroll
deductions credited to his or her account and not yet used to exercise his or
her option under the Plan at any time by giving written notice to the Company in
the form of EXHIBIT B to this Plan. All of the participant's payroll deductions
credited to his or her account shall be paid to such participant promptly after
receipt of notice of withdrawal and such participant's option for the Offering
Period shall be automatically terminated, and no further payroll deductions for
the purchase of shares shall be made for such Offering Period. If a participant
withdraws from an Offering Period, payroll deductions shall not resume at the
beginning of the succeeding Offering Period unless the participant delivers to
the Company a new subscription agreement.

          (b) A participant's withdrawal from an Offering Period shall not have
any effect upon his or her eligibility to participate in any similar plan which
may hereafter be adopted by the Company or in succeeding Offering Periods which
commence after the termination of the Offering Period from which the participant
withdraws.

     11.  TERMINATION OF EMPLOYMENT. Upon a participant's ceasing to be an
Employee for any reason, he or she shall be deemed to have elected to withdraw
from the Plan and the payroll deductions credited to such participant's account
during the Offering Period but not yet used to exercise the option shall be
returned to such participant or, in the case of his or her death, to the person
or persons entitled thereto under Section 15 hereof, and such participant's
option shall be automatically terminated. The preceding sentence
notwithstanding, a participant who receives payment in lieu of notice of
termination of employment shall be treated as continuing to be an Employee for
the participant's customary number of hours per week of employment during the
period in which the participant is subject to such payment in lieu of notice.

     12.  INTEREST. No interest shall accrue on the payroll deductions of a
participant in the Plan.

                                       5
<PAGE>

     13.  SHARES.

          (a) Subject to adjustment upon changes in capitalization of the
Company as provided in Section 19 hereof, the maximum number of Shares which
shall be made available for sale under the Plan shall be 750,000 Shares, plus an
annual increase to be added on the first day of the Company's fiscal year
beginning in 2001 equal to the lesser of (i) 750,000 shares, (ii) 2% of the
outstanding shares on such date or (iii) an amount determined by the Board. If,
on a given Exercise Date, the number of Shares with respect to which options are
to be exercised exceeds the number of Shares then available under the Plan, the
Company shall make a pro rata allocation of the Shares remaining available for
purchase in as uniform a manner as shall be practicable and as it shall
determine to be equitable.

          (b) The participant shall have no interest or voting right in Shares
covered by his option until such option has been exercised.

          (c) Shares to be delivered to a participant under the Plan shall be
registered in the name of the participant or in the name of the participant and
his or her spouse.

     14.  ADMINISTRATION. The Plan shall be administered by the Board. The Board
shall have full and exclusive discretionary authority to construe, interpret and
apply the terms of the Plan, to determine eligibility and to adjudicate all
disputed claims filed under the Plan. Every finding, decision and determination
made by the Board shall, to the full extent permitted by law, be final and
binding upon all parties.

     15.  DESIGNATION OF BENEFICIARY.

          (a) A participant may file a written designation of a beneficiary who
is to receive any Shares and cash, if any, from the participant's account under
the Plan in the event of such participant's death subsequent to an Exercise Date
on which the option is exercised but prior to delivery to such participant of
such shares and cash. In addition, a participant may file a written designation
of a beneficiary who is to receive any cash from the participant's account under
the Plan in the event of such participant's death prior to exercise of the
option. If a participant is married and the designated beneficiary is not the
spouse, spousal consent shall be required for such designation to be effective.

          (b) Such designation of beneficiary may be changed by the participant
at any time by written notice. In the event of the death of a participant and in
the absence of a beneficiary validly designated under the Plan who is living at
the time of such participant's death, the Company shall deliver such Shares
and/or cash to the executor or administrator of the estate of the participant,
or if no such executor or administrator has been appointed (to the knowledge of
the Company), the Company, in its discretion, may deliver such Shares and/or
cash to the spouse or to any one or more dependents or relatives of the
participant, or if no spouse, dependent or relative is known to the Company,
then to such other person as the Company may designate.

     16.  TRANSFERABILITY. Neither payroll deductions credited to a
participant's account nor any rights with regard to the exercise of an option or
to receive Shares under the Plan may be assigned, transferred, pledged or
otherwise disposed of in any way (other than by will, the laws of descent and
distribution or as provided in Section 15 hereof) by the participant. Any such
attempt at assignment,

                                       6
<PAGE>

transfer, pledge or other disposition shall be without effect, except that the
Company may treat such act as an election to withdraw funds from an Offering
Period in accordance with Section 10 hereof.

     17.  USE OF FUNDS. All payroll deductions received or held by the Company
under the Plan may be used by the Company for any corporate purpose, and the
Company shall not be obligated to segregate such payroll deductions.

     18.  REPORTS. Individual accounts shall be maintained for each participant
in the Plan. Statements of account shall be given to participating Employees at
least annually, which statements shall set forth the amounts of payroll
deductions, the Purchase Price, the number of Shares purchased and the remaining
cash balance, if any.

     19.  ADJUSTMENTS UPON CHANGES IN CAPITALIZATION, DISSOLUTION, LIQUIDATION,
MERGER OR ASSET SALE.

          (a) CHANGES IN CAPITALIZATION. Subject to any required action by the
shareholders of the Company, the Reserves, the maximum number of Shares each
participant may purchase per Offering Period (pursuant to Section 7), the number
of shares that may be added annually to the shares reserved under the Plan
(pursuant to Section 13(a)(i)), as well as the price per Share and the number of
Shares covered by each option under the Plan which has not yet been exercised
shall be proportionately adjusted for any increase or decrease in the number of
issued Shares resulting from a share split, reverse share split, share dividend,
combination or reclassification of the Shares, or any other increase or decrease
in the number of Shares effected without receipt of consideration by the
Company; provided, however, that conversion of any convertible securities of the
Company shall not be deemed to have been "effected without receipt of
consideration." Such adjustment shall be made by the Board, whose determination
in that respect shall be final, binding and conclusive. Except as expressly
provided herein, no issuance by the Company of shares of any class, or
securities convertible into shares of any class, shall affect, and no adjustment
by reason thereof shall be made with respect to, the number or price of Shares
subject to an option.

          (b) DISSOLUTION OR LIQUIDATION. In the event of the proposed
dissolution or liquidation of the Company, the Offering Period then in progress
shall be shortened by setting a new Exercise Date (the "New Exercise Date"), and
shall terminate immediately prior to the consummation of such proposed
dissolution or liquidation, unless provided otherwise by the Board. The New
Exercise Date shall be before the date of the Company's proposed dissolution or
liquidation. The Board shall notify each participant in writing, at least ten
(10) business days prior to the New Exercise Date, that the Exercise Date for
the participant's option has been changed to the New Exercise Date and that the
participant's option shall be exercised automatically on the New Exercise Date,
unless prior to such date the participant has withdrawn from the Offering Period
as provided in Section 10 hereof.

          (c) MERGER OR ASSET SALE. In the event of a proposed sale of all or
substantially all of the assets of the Company, or the merger of the Company
with or into another corporation, each outstanding option shall be assumed or an
equivalent option substituted by the successor corporation or a Parent or
Subsidiary of the successor corporation. In the event that the successor
corporation refuses to assume or substitute for the option, the Offering Period
then in progress shall be shortened by setting a new Exercise Date (the "New
Exercise Date"). The New Exercise Date shall be before the date of the

                                       7
<PAGE>

Company's proposed sale or merger. The Board shall notify each participant in
writing, at least ten (10) business days prior to the New Exercise Date, that
the Exercise Date for the participant's option has been changed to the New
Exercise Date and that the participant's option shall be exercised automatically
on the New Exercise Date, unless prior to such date the participant has
withdrawn from the Offering Period as provided in Section 10 hereof.

     20.  AMENDMENT OR TERMINATION.

          (a) The Board of Directors of the Company may at any time and for any
reason terminate or amend the Plan. Except as provided in Section 19 hereof, no
such termination can affect options previously granted, provided that an
Offering Period may be terminated by the Board of Directors on any Exercise Date
if the Board determines that the termination of the Offering Period or the Plan
is in the best interests of the Company and its shareholders. Except as provided
in Section 19 and Section 20 hereof, no amendment may make any change in any
option theretofore granted which adversely affects the rights of any
participant. To the extent necessary to comply with Section 423 of the Code (or
any other applicable law, regulation or stock exchange rule), the Company shall
obtain shareholder approval in such a manner and to such a degree as required.

          (b) Without shareholder consent and without regard to whether any
participant rights may be considered to have been "adversely affected," the
Board (or its committee) shall be entitled to change the Offering Periods, limit
the frequency and/or number of changes in the amount withheld during an Offering
Period, establish the exchange ratio applicable to amounts withheld in a
currency other than U.S. dollars, permit payroll withholding in excess of the
amount designated by a participant in order to adjust for delays or mistakes in
the Company's processing of properly completed withholding elections, establish
reasonable waiting and adjustment periods and/or accounting and crediting
procedures to ensure that amounts applied toward the purchase of Shares for each
participant properly correspond with amounts withheld from the participant's
Compensation, and establish such other limitations or procedures as the Board
(or its committee) determines in its sole discretion advisable which are
consistent with the Plan.

          (c) In the event the Board determines that the ongoing operation of
the Plan may result in unfavorable financial accounting consequences, the Board
may, in its discretion and, to the extent necessary or desirable, modify or
amend the Plan to reduce or eliminate such accounting consequence including, but
not limited to:

               (1) altering the Purchase Price for any Offering Period including
an Offering Period underway at the time of the change in Purchase Price;

               (2) shortening any Offering Period so that Offering Period ends
on a new Exercise Date, including an Offering Period underway at the time of the
Board action; and

               (3) allocating Shares.

               Such modifications or amendments shall not require shareholder
approval or the consent of any Plan participants.

                                       8

<PAGE>

     21.  NOTICES. All notices or other communications by a participant to the
Company under or in connection with the Plan shall be deemed to have been duly
given when received in the form specified by the Company at the location, or by
the person, designated by the Company for the receipt thereof.

     22.  CONDITIONS UPON ISSUANCE OF SHARES. Shares shall not be issued with
respect to an option unless the exercise of such option and the issuance and
delivery of such shares pursuant thereto shall comply with all applicable
provisions of law, domestic or foreign, including, without limitation, the
Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as
amended, the rules and regulations promulgated thereunder, and the requirements
of any stock exchange upon which the shares may then be listed, and shall be
further subject to the approval of counsel for the Company with respect to such
compliance.

          As a condition to the exercise of an option, the Company may require
the person exercising such option to represent and warrant at the time of any
such exercise that the shares are being purchased only for investment and
without any present intention to sell or distribute such shares if, in the
opinion of counsel for the Company, such a representation is required by any of
the aforementioned applicable provisions of law.

     23.  TERM OF PLAN. The Plan shall become effective upon the earlier to
occur of its adoption by the Board of Directors or its approval by the
shareholders of the Company. It shall continue in effect for a term of ten (10)
years unless sooner terminated under Section 20 hereof.

     24.  AUTOMATIC TRANSFER TO LOW PRICE OFFERING PERIOD. To the extent
permitted by any applicable laws, regulations, or stock exchange rules if the
Fair Market Value of the Common Stock on any Exercise Date in an Offering Period
is lower than the Fair Market Value of the Common Stock on the Enrollment Date
of such Offering Period, then all participants in such Offering Period shall be
automatically withdrawn from such Offering Period immediately after the exercise
of their option on such Exercise Date and automatically re-enrolled in the
immediately following Offering Period.

                                       9
<PAGE>

                                    EXHIBIT A

                             XACCT TECHNOLOGIES LTD.

                          EMPLOYEE SHARE PURCHASE PLAN

                             SUBSCRIPTION AGREEMENT

_____ Original Application                           Enrollment Date: __________
_____ Change in Payroll Deduction Rate
_____ Change of Beneficiary(ies)

1.   _____________________________________ hereby elects to participate in the
     XACCT Technologies Ltd. Employee Share Purchase Plan (the "Employee Share
     Purchase Plan") and subscribes to purchase Ordinary Shares of the Company
     in accordance with this Subscription Agreement and the Employee Share
     Purchase Plan.

2.   I hereby authorize payroll deductions from each paycheck in the amount of
     ____% of my Compensation on each payday (from 0 to 15%) during the Offering
     Period in accordance with the Employee Share Purchase Plan. (Please note
     that no fractional percentages are permitted.)

3.   I understand that said payroll deductions shall be accumulated for the
     purchase of Shares at the applicable Purchase Price determined in
     accordance with the Employee Share Purchase Plan. I understand that if I do
     not withdraw from an Offering Period, any accumulated payroll deductions
     will be used to automatically exercise my option.

4.   I have received a copy of the complete Employee Share Purchase Plan. I
     understand that my participation in the Employee Share Purchase Plan is in
     all respects subject to the terms of the Plan. I understand that my ability
     to exercise the option under this Subscription Agreement is subject to
     shareholder approval of the Employee Share Purchase Plan.

5.   Shares purchased for me under the Employee Share Purchase Plan should be
     issued in the name(s) of (Employee or Employee and Spouse only):
     _________________________________.

6.   I understand that if I dispose of any shares received by me pursuant to the
     Plan within 2 years after the Enrollment Date (the first day of the
     Offering Period during which I purchased such shares), I will be treated
     for federal income tax purposes as having received ordinary income at the
     time of such disposition in an amount equal to the excess of the fair
     market value of the shares at the time such shares were purchased by me
     over the price which I paid for the shares. I HEREBY AGREE TO NOTIFY THE
     COMPANY IN WRITING WITHIN 30 DAYS AFTER THE DATE OF ANY DISPOSITION OF
     SHARES AND I WILL MAKE ADEQUATE PROVISION FOR FEDERAL, STATE OR OTHER TAX
     WITHHOLDING OBLIGATIONS, IF ANY, WHICH ARISE UPON THE DISPOSITION OF THE
     SHARE. The Company may, but will not be obligated to, withhold from my
     compensation the amount necessary to meet any applicable

<PAGE>

     withholding obligation including any withholding necessary to make
     available to the Company any tax deductions or benefits attributable to
     sale or early disposition of Shares by me. If I dispose of such shares at
     any time after the expiration of the 2-year holding period, I understand
     that I will be treated for federal income tax purposes as having received
     income only at the time of such disposition, and that such income will be
     taxed as ordinary income only to the extent of an amount equal to the
     lesser of (1) the excess of the fair market value of the shares at the time
     of such disposition over the purchase price which I paid for the shares, or
     (2) 15% of the fair market value of the shares on the first day of the
     Offering Period. The remainder of the gain, if any, recognized on such
     disposition will be taxed as capital gain.

7.   I hereby agree to be bound by the terms of the Employee Share Purchase
     Plan. The effectiveness of this Subscription Agreement is dependent upon my
     eligibility to participate in the Employee Share Purchase Plan.

8.   In the event of my death, I hereby designate the following as my
     beneficiary(ies) to receive all payments and shares due me under the
     Employee Share Purchase Plan:

     NAME:  (Please print)          ____________________________________________
                                    (First)            (Middle)           (Last)

         ______________________     ____________________________________________
         Relationship
                                    ____________________________________________
                                    (Address)

         Employee's Social
         Security Number:           ____________________________________________

         Employee's Address:        ____________________________________________

                                    ____________________________________________

                                       2

<PAGE>

I UNDERSTAND THAT THIS SUBSCRIPTION AGREEMENT SHALL REMAIN IN EFFECT THROUGHOUT
SUCCESSIVE OFFERING PERIODS UNLESS TERMINATED BY ME.

Dated: ________________________     ____________________________________________
                                    Signature of Employee

                                    ____________________________________________
                                    Spouse's Signature (If beneficiary other
                                    than spouse)

                                       3

<PAGE>

                                    EXHIBIT B

                             XACCT TECHNOLOGIES LTD.

                        2000 EMPLOYEE SHARE PURCHASE PLAN

                              NOTICE OF WITHDRAWAL

     The undersigned participant in the Offering Period of the XACCT
Technologies Ltd. Employee Share Purchase Plan that began on _________________,
____ (the "Enrollment Date") hereby notifies the Company that he or she hereby
withdraws from the Offering Period. He or she hereby directs the Company to pay
to the undersigned as promptly as practicable all the payroll deductions
credited to his or her account with respect to such Offering Period. The
undersigned understands and agrees that his or her option for such Offering
Period will be automatically terminated. The undersigned understands further
that no further payroll deductions will be made for the purchase of shares in
the current Offering Period and the undersigned shall be eligible to participate
in succeeding Offering Periods only by delivering to the Company a new
Subscription Agreement.

                                    Name and Address of Participant:

                                    ____________________________________________

                                    ____________________________________________

                                    ____________________________________________

                                    Signature:

                                    ____________________________________________

                                    Date: ______________________________________

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