Document:

EXHIBIT 10.1

                             SAGENT TECHNOLOGY, INC.
                             NOTE PURCHASE AGREEMENT

            This NOTE PURCHASE AGREEMENT, dated as of April 15, 2003, (this
"Agreement") is entered into by and between Sagent Technology, Inc., a Delaware
corporation with its principal executive offices at 800 West El Camino Real,
Suite 300, Mountain View, California 94040 (the "Company"), and Group 1
Software, Inc., a Delaware corporation with its principal executive offices at
4200 Parliament Place, Suite 600, Lanham, Maryland, 20706 (the "Lender").

                                    RECITALS

            A. On October 24, 2002, the Company entered into an agreement with
CDC Software Corporation ("CDC"), pursuant to which, among other things, CDC
made secured loans to the Company of up to $7,000,000 in the aggregate (the "CDC
Loans");

            B. On the terms and subject to the conditions set forth herein, the
Lender is willing to purchase from the Company, and the Company is willing to
sell to the Lender, secured promissory notes in the aggregate principal amount
of up to $7,000,000;

            C. The Company will use a portion of the proceeds of the promissory
note to be sold to Lender to repay in full all amounts outstanding under the CDC
Loans;

            D. As a condition to the Lender's obligation to purchase such notes,
the Company and the Lender will enter into (i) a Security Agreement, pursuant to
which the Company will grant to the Lender a security interest in certain
collateral and (ii) a Pledge Agreement, pursuant to which the Company will
pledge to the Lender shares of stock of certain of the Company's subsidiaries;
and

            E. Capitalized terms used but not otherwise defined herein shall
have the meaning set forth in the Note.

                                    AGREEMENT

            NOW THEREFORE, in consideration of the foregoing, and the
representations, warranties, and conditions set forth below, the parties hereto,
intending to be legally bound, hereby agree as follows:

            1. Definitions. As used in this Agreement, the following capitalized
terms have the following meanings:

            (a) "Asset Purchase Agreement" shall mean that certain Asset
Purchase Agreement dated as of the date hereof by and between the Lender and the
Company.

            (b) "Closing" shall mean each of the First Closing and Second
Closing.

            (c) "Collateral" has the meaning given to it in the Security
Agreement.

            (d) "Commission" shall mean the United States Securities and
Exchange Commission.

            (e) "Common Stock" shall mean the common stock, par value $0.001 per
share, of the Company.

            (f) "Company Disclosure Letter" has the meaning given to it in
Section 3.

            (g) "Company Intellectual Property" means any Intellectual Property
that is owned or exclusively licensed by the Company.

            (h) "Event of Default" has the meaning given to it in the Note.

            (i) "First Closing" has the meaning given to it in Section 2(b).

            (j) "GAAP" shall mean generally accepted accounting principles as
applied in the United States.

            (k) "Indebtedness" of any Person means, without duplication, all
obligations of such Person (i) for borrowed money, (ii) evidenced by notes,
bonds, debentures or similar instruments, (iii) for the deferred purchase price
of goods or services (other than trade payables or accruals incurred in the
ordinary course of business), (iv) under capital leases and (v) in the nature of
guarantees of the obligations described in clauses (i) through (iv) above of any
other Person.

            (l) "Intellectual Property" shall mean:

                  (i) all issued patents, reissued or reexamined patents,
            revivals of patents, utility models, certificates of invention,
            registrations of patents and extensions thereof, regardless of
            country or formal name (collectively, "Issued Patents");

                  (ii) all published or unpublished nonprovisional and
            provisional patent applications, reexamination proceedings,
            invention disclosures and records of invention (collectively "Patent
            Applications" and, with the Issued Patents, the "Patents");

                  (iii) all copyrights, copyrightable works, semiconductor
            topography and mask works, including in each case any and all rights
            of authorship, use, publication, reproduction, distribution,
            performance transformation, moral rights and rights of ownership and
            all rights to register and obtain renewals and extensions of
            registrations, together with all other interests accruing by reason
            of international copyright, semiconductor topography and mask work
            conventions (collectively, "Copyrights");

                  (iv) all trademarks, registered trademarks, applications for
            registration of trademarks, service marks, registered service marks,
            applications for registration of service marks, trade names,
            registered trade names and applications for registrations of trade
            names (collectively, "Trademarks") and domain name registrations;

                  (v) all rights in and to domain name registrations; and

                  (vi) all technology, algorithms, inventions, designs,
            proprietary information, manufacturing and operating specifications,
            know-how, formulae, trade secrets, technical data, computer
            programs, databases, database compilations, user interfaces,
            hardware, software and processes and the confidentiality, and other
            intangible and proprietary rights subsisting therein.

            (m) "Lien" shall mean, with respect to any property, any security
interest, mortgage, pledge, lien, claim, charge or other encumbrance in, of, or
on such property or the income therefrom, including, without limitation, the
interest of a vendor or lessor under a conditional sale agreement, capital lease
or other title retention agreement, or any agreement to provide any of the
foregoing, and the filing of any financing statement or similar instrument under
the UCC or comparable law of any jurisdiction.

            (n) "Material Adverse Effect" shall mean any change, event or effect
that is materially adverse to the business, assets (including intangible
assets), financial condition, results of operations or capitalization of the
Company and its Subsidiaries, taken as a whole; provided, however, that none of
the following shall constitute a "Material Adverse Effect": any change, event or
effect primarily resulting from or attributable to (i) changes in general
industry or worldwide economic conditions that affect the Company (or the
markets in which the Company competes) in a manner not disproportionate to the
manner in which such conditions affect other companies in the industries or
markets in which Company competes; (ii) changes in GAAP; (iii) any change in the
market price or trading volume of the Common Stock after the date of this
Agreement; (iv) any adverse circumstance, change or effect (including any
termination or breach of employment, supplier, distributor, partner or similar
relationships) resulting directly or indirectly from the announcement, pendency,
execution, amendment, performance or any action rightfully taken in connection
of the Asset Purchase Agreement; (v) any adverse circumstance, change or effect
resulting directly from the taking of any action by the Company which the Asset
Purchase Agreement requires the Company to take; (vi) any adverse circumstance,
change or effect resulting directly or indirectly from the Company not receiving
$2 million in proceeds from the Lender at the Second Closing; or (vii) any
delisting of the Common Stock from the Nasdaq Stock Market.

            (o) "Material Contract" shall mean any agreement or contract to
which the Company is a party and which has been filed by the Company with the
Commission pursuant to the Company's reporting obligations under the Securities
Exchange Act of 1934, as amended.

            (p) "Note" and "Notes" have the meanings given to them in Section
2(a).

            (q) "Permitted Liens" shall mean:

                  (i) Liens disclosed to Lender in the Company Disclosure Letter
            or arising under the Transaction Documents;

                  (ii) Liens for taxes, fees, assessments or other government
            charges or levies, either not delinquent or being contested in good
            faith and for which Company maintains adequate reserves on its
            books;

                  (iii) Non-exclusive licenses or sublicenses of intellectual
            property granted in the ordinary course of Company's business
            consistent with past practice and, with respect to any licenses
            where Company is the licensee, any interest or title of a licensor
            or under any such license or sublicense;

                  (iv) Easements, reservations, rights-of-way, restrictions,
            minor defects or irregularities in title and other similar charges
            or encumbrances affecting real property not constituting a Material
            Adverse Effect;

                  (v) Liens of carriers, warehousemen, mechanics, materialmen,
            vendors, landlords, depository institutions (including rights of
            setoff) and other Liens imposed by law incurred in the ordinary
            course of business for sums not yet overdue or being contested in
            good faith;

                  (vi) Deposits for workers' compensation, unemployment
            insurance and social security laws or to secure the performance of
            bids, tenders, contracts (other than for the repayment of borrowed
            money) or leases, or to secure statutory obligations of surety or
            appeal bonds or to secure indemnity, performance or other similar
            bonds in the ordinary course of business;

                  (vii) Liens securing obligations under capital leases, the
            purchase price of equipment or indebtedness incurred for the
            purposes of financing the acquisition of equipment; provided that
            such lease or indebtedness is permitted under the Note and such
            Liens do not extend to property other than the property leased under
            such capital lease or the property so purchased or financed and any
            additions, accessions, parts, replacements, fixtures, improvements
            and attachments thereto, and the proceeds thereof; and

                  (viii) Liens arising from judgments or any judgment liens in
            circumstances not constituting an Event of Default.

            (r) "Person" shall mean and include an individual, a partnership, a
corporation (including a business trust), a joint stock company, a limited
liability company, an unincorporated association, a joint venture or other
entity or a governmental authority.

            (s) "Pledge Agreement" shall mean the Pledge Agreement to be entered
into between the Company and the Lender at the First Closing, which agreement
shall be in substantially the form of Exhibit C attached hereto.

            (t) "Registered Intellectual Property" means all Intellectual
Property that is the subject of an application, certificate, filing,
registration or other document issued, filed with, or recorded by any state,
government or other public legal authority.

            (u) "Second Closing" has the meaning given to it in Section 2(c).

            (v) "Securities Act" shall mean the Securities Act of 1933, as
amended.

            (w) "Security Agreement" shall mean the Security Agreement entered
into between the Company and the Lender at the First Closing, which shall be in
substantially the form attached as Exhibit B hereto.

            (x) "Subsidiary" shall mean, with respect to any Person, a
corporation or other entity of whose shares of stock or other ownership
interests having ordinary voting power (other than stock or other ownership
interests having such power only by reason of the happening of a contingency) to
elect a majority of the directors of such corporation, or other Persons
performing similar functions for such entity, are owned, directly or indirectly,
by such Person.

            (y) "Third Party" shall mean any Person other than the Company, the
Lender or any Affiliate of the Company and the Lender.

            (z) "Transaction Documents" shall mean this Agreement, the Notes,
the Security Agreement and the Pledge Agreement.

            (aa) "UCC" shall mean the Uniform Commercial Code as in effect in
the State of California from time to time.

            2. The Notes.

            (a) Issuance of Notes. The Company agrees to issue and sell to the
Lender, and, subject to all of the terms and conditions hereof, the Lender
agrees to purchase from the Company, secured promissory notes in the form of
Exhibit A hereto (each, a "Note," and collectively, the "Notes") in the
aggregate principal amount of up to $7,000,000.

            (b) First Closing. The first closing of the sale and purchase of the
Notes (the "First Closing") shall take place at the offices of Cadwalader,
Wickersham & Taft LLP, New York, New York 10038 on or before April 15, 2003 at
10:00 a.m. New York time. At the First Closing, the Company will deliver to the
Lender a Note to be purchased by the Lender, against receipt by the Company of
the corresponding purchase price of $5,000,000.

            (c) Second Closing. The second closing of the sale and purchase of
the Notes (the "Second Closing") shall take place at the offices of Cadwalader,
Wickersham & Taft LLP, New York, New York 10038, at 10:00 a.m. New York time, on
a date that is within three (3) business days of the date on which the Lender's
Board of Directors approves the Asset Purchase Agreement. At the Second Closing,
the Company will deliver to the Lender a Note to be purchased by the Lender,
against receipt by the Company of the corresponding purchase price of
$2,000,000.

            3. Representations and Warranties of the Company. Except as set
forth in writing in the disclosure letter supplied by the Company to the Lender
and delivered concurrently with this Agreement (the "Company Disclosure
Letter"), the Company represents and warrants to the Lender that as of the date
hereof:

            (a) Due Incorporation, Qualification, etc. The Company and each of
its Subsidiaries (i) is a corporation duly incorporated, validly existing and in
good standing under the laws of the jurisdiction of its formation; (ii) has the
requisite corporate power and authority to own and operate its assets and
properties and carry on its business as now conducted; and (iii) is duly
qualified to do business as a foreign corporation in each jurisdiction where the
failure to be so qualified could reasonably be expected to have a Material
Adverse Effect.

            (b) Authority. The execution, delivery and performance by the
Company of each Transaction Document to be executed by the Company and the
consummation of the transactions contemplated thereby (i) are within the power
of the Company and (ii) have been duly authorized by all necessary actions on
the part of the Company.

            (c) Enforceability. Each Transaction Document executed, or to be
executed, by the Company has been, or will be, duly executed and delivered by
the Company and constitutes, or will constitute, a legal, valid and binding
obligation of the Company, enforceable against the Company in accordance with
its terms, except as limited by bankruptcy, insolvency or other laws of general
application relating to or affecting the enforcement of creditors' rights
generally and general principles of equity.

            (d) Non-Contravention. The execution and delivery by the Company of
the Transaction Documents executed by the Company and the performance and
consummation of the transactions contemplated thereby do not and will not (i)
violate the Certificate of Incorporation or Bylaws of the Company or any
material judgment, order, writ, decree, statute, rule or regulation applicable
to the Company; (ii) violate any provision of, or result in the breach or the
acceleration of, or entitle any other Person to accelerate (whether after the
giving of notice or lapse of time or both), any material mortgage, indenture,
agreement, instrument or contract to which the Company is a party or by which it
is bound; or (iii) result in the creation or imposition of any Lien upon any
property, asset or revenue of the Company (other than any Lien arising under the
Transaction Documents) or the suspension, revocation, impairment, forfeiture, or
nonrenewal of any material permit, license, authorization or approval applicable
to the Company, its business or operations, or any of its assets or properties.

            (e) Approvals. No consent, approval, order or authorization of, or
registration, declaration or filing with, any governmental authority or other
Person (including, without limitation, the shareholders of any Person) is
required in connection with the execution and delivery of the Transaction
Documents executed by the Company and the performance and consummation of the
transactions contemplated thereby, except for any notices required or permitted
to be filed after the Closing with certain federal and state securities
commissions and the filing of financing statements and filings with patent,
trademark and copyright offices with respect to the Collateral.

            (f) No Violation or Default. Except with respect to the CDC Loans,
the Company is not in violation of or in default with respect to (i) its
Certificate of Incorporation or Bylaws or any material judgment, order, writ, or
decree applicable to the Company; or (ii) any mortgage, indenture or other
contract or agreement to which the Company is a party or by which it is bound
(nor is there any waiver in effect which, if not in effect, would result in such
a violation or default), except in each case, where such violation or default,
individually, or together with all such violations or defaults, would not
reasonably be expected to have a Material Adverse Effect.

            (g) Title. The Company owns and has good and marketable title (in
fee simple absolute in the case of real property) to, or a valid leasehold
interest in, all its assets and properties as reflected in the audited
consolidated financial statements of the Company for each of the fiscal years
ended December 31, 2002 and December 31, 2001, as contained on the Company
Disclosure Schedule (except those assets and properties disposed of in the
ordinary course of business since the date of such financial statements). Such
assets and properties are subject to no Liens, except for Permitted Liens.

            (h) Intellectual Property.

                  (i) The Company has good and marketable title to the
            Intellectual Property owned by it. To the Company's knowledge, the
            Company possesses legally enforceable rights to use all Intellectual
            Property used in the business of the Company. The Company has sole
            ownership of all Patents incorporated into any product of the
            Company or otherwise used in the business of the Company. To the
            Company's knowledge, the Company's owned Intellectual Property and
            other Intellectual Property licensed to the Company collectively
            constitutes all of the Intellectual Property necessary to enable the
            Company to conduct its business as such business is currently being
            conducted. To the Company's knowledge, there is no unauthorized use,
            disclosure or misappropriation of any Company Intellectual Property
            by any employee or former employee of the Company or by any other
            third party.

                  (ii) All Patents, registered Trademarks, registered service
            marks and registered Copyrights held by the Company are valid and
            subsisting. All maintenance and annual fees have been fully paid and
            all fees paid during prosecution and after issuance of any Patent
            comprising or relating to such item have been paid in the correct
            entity status amounts. To the Company's knowledge, the Company is
            not infringing, misappropriating or making unlawful use of, and it
            has not received any notice or other communication (in writing or
            otherwise) of any actual, alleged, possible or potential
            infringement, misappropriation or unlawful use of any proprietary
            asset owned or used by any third party. There is no proceeding
            pending or, to the Company's knowledge, threatened, nor has any
            claim or demand been made that challenges the legality, validity,
            enforceability or ownership of any item of the Company Intellectual
            Property or alleges a claim of infringement of any Patents,
            Copyrights, Trademarks or service marks, or violation of any trade
            secret or other proprietary right of any third party. The Company
            has not brought a proceeding alleging infringement of the Company
            Intellectual Property or breach of any license or agreement
            involving Intellectual Property against any third party.

                  (iii) The Company has taken all reasonable and customary
            measures and precautions necessary to protect and maintain the
            confidentiality of all Company Intellectual Property (except such
            Company Intellectual Property whose value would not be materially
            impaired by public disclosure) and otherwise to maintain and protect
            all Company Intellectual Property. To the Company's knowledge, all
            use, disclosure or appropriation of Intellectual Property not
            otherwise protected by patents, patent applications, copyrights or
            trademarks owned by the Company by or to a third party has been
            pursuant to the terms of a written agreement between the Company and
            such third party.

                  (iv) To the Company's knowledge, all third party licenses used
            by the Company that relates to the Intellectual Property are legal,
            valid, binding, enforceable and in full force and effect and will
            continue to be so following the consummation of the transactions
            contemplated hereby.

                  (v) The Company maintains a policy that provides that each of
            its employees and commissioned agents signs an assignment of
            inventions and confidentiality agreement. Each of the Company's
            employees and commissioned agents that has contributed to the
            development of any material portion of the Company's Intellectual
            Property has executed such an agreement.

                  (vi) Section 3(h)(vi) of the Company Disclosure Letter lists
            all Registered Intellectual Property owned by the Company.

            (i) Litigation. The Company does not have any pending or, to the
Company's knowledge, threatened litigation, arbitration, actions or proceedings
that involve the possibility of having a Material Adverse Effect on the Company.

            (j) Other Loans. Except for the CDC Loans, the Company does not have
any indebtedness for borrowed money other than to the Lender.

            (k) Licenses and Permits. The Company (i) is in compliance with and
(ii) has procured and is now in possession of, all material licenses or permits
required by any applicable federal, state or local law, rule or regulation for
the operation of its business in each jurisdiction wherein it is now conducting
or proposes to conduct business and where the failure to procure such licenses
or permits could have a Material Adverse Effect.

            (l) Taxes. The Company and each of its Subsidiaries has filed or
caused to be filed all tax returns required to be filed, and has paid, or has
made adequate provision for the payment of, all taxes reflected therein.

            (m) Subsidiaries. The Company does not have any Subsidiaries that
own assets or properties material to the business, operations or financial
condition of the Company, whether individually or in the aggregate.

            (n) Financial Statements. The audited consolidated financial
statements of the Company for each of the fiscal years ended December 31, 2002
and December 31, 2001 comply as to form in all material respects with the
applicable accounting requirements and the published rules and regulation of the
Commission or other applicable rules and regulation with respect thereto. Such
financial statements have been prepared in accordance with GAAP applied on a
consistent basis during the periods involved (except as may be otherwise
indicated in such financial statements or the notes thereto), and fairly present
in all material respects the financial position of the Company and it
Subsidiaries as of the dates thereof and the results of operations and cash
flows for the periods then ended.

            (o) Projections. The financial projections of the Company delivered
to the Lender prior to the date hereof were prepared by the Company in good
faith and were based on reasonable assumptions of senior management of the
Company. Nothing herein or in any of the Transaction Documents shall be deemed a
representation, warranty or covenant that such projections will, in fact, be
achieved.

            (p) Default of Indebtedness. Except with respect to the CDC Loans,
the Company is not in default in the payment of the principal of or interest on
any Indebtedness or under any instrument or agreement under or subject to which
any Indebtedness has been issued and no event has occurred under the provisions
of any such instrument or agreement which with or without the lapse of time or
the giving of notice, or both, constitutes or would constitute an event of
default thereunder.

            (q) Material Contracts. Each of the Material Contracts has been duly
executed by the Company and creates a binding and enforceable obligation of the
Company. The Company has performed in all material respects the obligations
required to be performed by it to date under each Material Contract and the
Company nor, to the Company knowledge any other party to such Material Contract
is in default in any material respect or in arrears under the terms thereof, and
no condition exists or event has occurred which, with the giving of notice or
lapse of time or both, would constitute such a default thereunder. Company is
not aware of any intention by any party to terminate or amend any Material
Contract or, if Company intends to request a renewal, of any intention to refuse
to renew the same upon expiration of its term.

            (r) Accounts Receivable. The Company is the sole and absolute owner
of each accounts receivable that comprise the accounts receivable line item (as
reserved for doubtful accounts) in the Company's consolidated balance sheet as
of December 31, 2002. Each such accounts receivable is based on an actual sale
and delivery of goods and/or services rendered by Company. Except as has been
adequately reserved for under GAAP, each of the accounts receivable is valid and
enforceable and the Company is not aware of any such accounts receivable being
in dispute.

            (s) Solvency. Effective upon the First Closing and the repayment of
CDC Loans, and assuming that the Company receives a full $2 million in proceeds
from Lender pursuant to the Second Closing, the Company reasonably believes that
it will be able to pay its debts (excluding any amounts owed to the Lender under
any of the Transaction Documents) incurred in the ordinary course of its
business as they originally become due during the three-month period beginning
on the date hereof. The Company reasonably believes that the fair value of the
Company's total assets exceeds the value of the Company's liabilities.

            (t) Equity Securities. The number of shares of common stock of the
Company outstanding as of the date hereof (assuming the conversion of all
outstanding convertible securities and the exercise of all outstanding
in-the-money options and warrants), did not exceed 47 million shares.

            (u) Customer Contracts. The Company has previously delivered to its
independent auditors copies of all customer agreements from which the Company
has recognized $200,000 or more of revenue within any one fiscal quarter since
January 1, 2001.

            (v) Accuracy of Information Furnished. None of the Transaction
Documents and none of the other certificates, statements or information
furnished to Lenders by or on behalf of the Company in connection with the
Transaction Documents or the transactions contemplated thereby contains or will
contain any untrue statement of a material fact or omits or will omit to state a
material fact necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading.

            4. Representations and Warranties of the Lender. The Lender
represents and warrants to the Company upon the acquisition of the Notes as
follows:

            (a) Binding Obligation. The Lender has full legal capacity, power
and authority to execute and deliver this Agreement and to perform its
obligations hereunder. This Agreement is a valid and binding obligation of the
Lender, enforceable in accordance with its terms, except as limited by
bankruptcy, insolvency or other laws of general application relating to or
affecting the enforcement of creditors' rights generally and general principles
of equity.

            (b) Securities Law Compliance. The Lender has been advised that the
Notes have not been registered under the Securities Act or any state securities
laws and, therefore, cannot be resold unless they are registered under the
Securities Act and applicable state securities laws or unless an exemption from
such registration requirements is available. The Lender is aware that the
Company is under no obligation to effect any such registration with respect to
the Notes or to file for or comply with any exemption from registration. The
Lender has not been formed solely for the purpose of making this investment and
is purchasing the Notes to be acquired by such Lender hereunder for its own
account for investment, not as a nominee or agent, and not with a view to, or
for resale in connection with, the distribution thereof. The Lender has such
knowledge and experience in financial and business matters that such Lender is
capable of evaluating the merits and risks of such investment, is able to incur
a complete loss of such investment and is able to bear the economic risk of such
investment for an indefinite period of time. Such Lender is an accredited lender
as such term is defined in Rule 501 of Regulation D under the Securities Act.

            (c) Access to Information. The Lender acknowledges that the Company
has given the Lender access to the corporate records and accounts of the Company
and to such other information in its possession relating to the Company, as the
Lender has requested, and has made its officers and representatives available
for interview by such Lender.

            (d) Going Concern. The Lender acknowledges that it is fully aware
that the Company has incurred and continues to incur significant losses from its
operations and that these facts raise substantial doubt about the Company's
ability to continue as a going concern.

            5. Conditions to Closing of the Lender.

            (a) First Closing. The Lender's obligation to make the loan at the
First Closing is subject to the satisfaction, at or prior to such Closing, of
each of the following conditions, any of which may be waived, in whole or in
part, by the Lender:

                  (i) Representations and Warranties. The representations and
            warranties made by the Company in Section 3 shall be true and
            correct in all material respects on and as of the date of such
            Closing, except for changes contemplated by this Agreement and
            except for those representations and warranties which address
            matters only as of a particular date (which shall remain true and
            correct as of such date), with the same force and effect as if made
            on and as of the date of such Closing, except, in all such cases,
            for such breaches, inaccuracies or omissions of such representations
            and warranties which have neither had nor reasonably would be
            expected to have a Material Adverse Effect on the Company.

                  (ii) No Default. No Event of Default shall have occurred and
            be continuing on the date of such Closing, or would exist after
            giving effect to such Closing; provided, however that the Lender, in
            its sole discretion, may elect to waive this condition to Closing;
            and provided further that such waiver shall not be deemed a waiver
            of any such Event of Default for any other purpose.

                  (iii) Governmental Approvals and Filings. Except for any
            notices required or permitted to be filed after the date of such
            Closing with certain federal and state securities commissions, and
            the filing of a financing statement with the Delaware Secretary of
            State, the Company shall have obtained all governmental approvals
            required in connection with the lawful sale and issuance of the
            Notes and the granting of a perfected security interest in the
            Collateral in favor of the Lender.

                  (iv) Legal Requirements. The sale and issuance by the Company,
            and the purchase by the Lender, of the Notes shall be legally
            permitted by all laws and regulations to which the Lender or the
            Company is subject.

                  (v) Consents. The Company shall have obtained any and all
            consents reasonably necessary to consummate the transactions
            contemplated by this Agreement and the Transaction Documents.

                  (vi) Officer's Certificate. Lender shall have received a
            certificate signed by the Chief Executive Officer of the Company,
            dated as of the date of such Closing and certifying the satisfaction
            of the conditions to Closing set forth in Sections 5(a)(i) and
            5(a)(ii).

                  (vii) Secretary's Certificate. Lender shall have received a
            certificate of the Company executed by the Company's Secretary,
            attaching and certifying to the truth and correctness of (i) the
            Company's Certificate of Incorporation, as amended and then in
            effect, (ii) the Company's Bylaws and (iii) the resolutions of the
            Company's Board of Directors approving the transactions contemplated
            by this Agreement.

                  (viii) Good Standing Certificate. Lender shall have received a
            good standing certificate for the Company dated not more than 5 days
            prior to the date of such Closing, issued by the Secretary of State
            of Delaware.

                  (ix) Legal Opinion. Lender shall have received the executed
            legal opinion of Wilson Sonsini Goodrich & Rosati in substantially
            the form attached hereto as Exhibit D.

                  (x) Transaction Documents. The Company shall have duly
            executed and delivered to the Lender the following documents:

                        (A) A Note in the appropriate face amount as set forth
                  in Section 2(b);

                        (B) The Security Agreement;

                        (C) The Pledge Agreement; and

                        (D) All UCC-1 financing statements and other documents
                  and instruments that the Lender may reasonably request to
                  perfect its security interest in the collateral described in
                  the Security Agreement.

                  (xi) CDC shall have delivered to the Company (for purposes of
            this condition, delivery to the Company in escrow shall satisfy this
            condition) a termination statement releasing the Collateral (as such
            term is defined in that certain Security Agreement dated as of
            October 24, 2002 executed by the Company in favor of CDC (the "CDC
            Security Agreement")) from liens created under the CDC Security
            Agreement and shall have done all further acts and executed and
            delivered all further instruments and documents necessary to
            terminate the security interest granted under the CDC Security
            Agreement and Lender shall be satisfied that CDC has no Liens on any
            Collateral.

                  (xii) CDC and the Company shall have entered into a Settlement
            Agreement in form and substance satisfactory to Lender which
            agreement shall, among other things, (i) terminate all rights and
            obligations of the parties under the Pledge Agreement dated November
            1, 2002 between the Company and CDC, each of the Warrants dated
            November 1, 2002 and December 31, 2002 issued by the Company in
            favor of CDC, the Investor's Rights Agreement dated November 1, 2002
            between the Company and CDC, the Deposit Account Control Agreement
            dated November 25, 2002 among the Company, CDC, and Comerica Bank,
            and the Deposit Account Control Agreement dated November 22, 2002
            among the Company, CDC, and Venture Banking Group.

            (b) Second Closing. The Lender's obligation to make the loan at the
Second Closing is subject to the satisfaction, at or prior to such Closing, of
each of the following conditions, any of which may be waived, in whole or in
part, by the Lender:

                  (i) No Default. No Event of Default shall have occurred and be
            continuing on the date of such Closing, or would exist after giving
            effect to such Closing; provided, however that the Lender, in its
            sole discretion, may elect to waive this condition to Closing; and
            provided further that such waiver shall not be deemed a waiver of
            any such Event of Default for any other purpose.

                  (ii) Governmental Approvals and Filings. Except for any
            notices required or permitted to be filed after the date of such
            Closing with certain federal and state securities commissions, and
            the filing of a financing statement with the Delaware Secretary of
            State, the Company shall have obtained all governmental approvals
            required in connection with the lawful sale and issuance of the
            Notes and the granting of a perfected security interest in the
            Collateral in favor of the Lender.

                  (iii) Legal Requirements. The sale and issuance by the
            Company, and the purchase by the Lender, of the Notes shall be
            legally permitted by all laws and regulations to which the Lender or
            the Company is subject.

                  (iv) No Adverse Material Change. Since the date of the First
            Closing, there shall not have occurred any event, condition or state
            of facts that could reasonably be expected to have a Material
            Adverse Effect.

                  (v) Asset Purchase Agreement. The Asset Purchase Agreement
            shall not have been terminated in accordance with its terms and
            shall be in full force and effect.

                  (vi) Transaction Documents. The Company shall have duly
            executed and delivered to the Lender a Note in the appropriate face
            amount as set forth in Section 2(c).

            6. Conditions to Obligations of the Company. The Company's
obligation to issue and sell the Notes at each Closing is subject to the
fulfillment of the following conditions, any of which may be waived in whole or
in part by the Company:

            (a) Representations and Warranties. The representations and
warranties made by the Lender in Section 4 hereof shall be true and correct in
all material respects on and as of the date of the of such Closing.

            (b) Governmental Approvals and Filings. Except for any notices
required or permitted to be filed after the date of such Closing with certain
federal and state securities commissions, the Company shall have obtained all
governmental approvals required in connection with the lawful sale and issuance
of the Notes.

            (c) Legal Requirements. The sale and issuance by the Company, and
the purchase by the Lender, of the Notes shall be legally permitted by all laws
and regulations to which the Lender or the Company is subject.

            (d) Purchase Price. The Lender shall have delivered to the Company
the relevant purchase price in respect of the Notes being purchased by the
Lender at such Closing.

            7. Lender Rights.

            (a) Board Representation; Financial Information

                  (i) Board Observation Rights. Effective as of the First
            Closing, a natural person designated by the Lender shall have the
            right to attend all meetings of the Board of Directors of the
            Company (the "Board") in a nonvoting observer capacity (until such
            right is terminated by virtue of the Lender's election under Section
            7(a)(ii)), to receive notice of such meetings and to receive the
            information provided by the Company to the Board, in each case at
            the same time as it is provided to the members of the Board;
            provided, however, that in such an observer capacity, the Lender
            shall, and shall cause its representative to, hold in confidence and
            trust and to act in a fiduciary manner with respect to all
            information so received during such meetings or otherwise; and
            provided further, that the Company reserves the right not to provide
            information and to exclude the Lender or its representative from any
            meeting or portion thereof if delivery of such information or
            attendance at such meeting by the Lender or its representative would
            result in the disclosure of trade secrets to such holder or its
            representative or would adversely affect the attorney-client
            privilege between the Company and its counsel or if the Lender or
            its representative is a direct competitor of the Company.

                  (ii) Board Seat. At any time following the date of the First
            Closing, provided that the Notes are then outstanding, the Lender
            may elect to convert its rights set forth in Section 7(a)(i) in
            exchange for the right to have one natural person designated by the
            Lender be appointed to serve on the Board. To exercise the right
            contained in this Section 7(a)(ii), the Lender shall provide notice
            to the Company regarding its election, in the manner set forth in
            Section 8, which notice shall set forth the name of the Lender's
            Board designee, together with a Director & Officer Questionnaire in
            the form and substance reasonably satisfactory to the Company,
            completed with respect to the Lender's designee. Within two (2)
            weeks following receipt by the Company of such notice and completed
            questionnaire, the Board shall consider (whether at a regular or
            special meeting or by written consent) and, consistent with the
            Company's Certificate of Incorporation and Bylaws and the Board's
            fiduciary duties under Delaware law, appoint the Lender's designee
            to serve as a member of the Board, to serve until such time as his
            successor has been duly elected and qualified.

                  (iii) Financial Information. Effective upon the First Closing,
            the Company shall deliver to the Lender (or its designee under
            Section 7(a)(i) or 7(a)(ii)) the same package of materials (which
            package includes financial and other confidential Company
            information) as is delivered to the Board following the completion
            of each fiscal quarter (the "Quarterly Board Package"). The
            Quarterly Board Package shall be delivered to the Lender (or its
            designee under Section 7(a)(i) or 7(a)(ii)) concurrently with its
            delivery to the Board and shall be held in confidence and trust by
            Lender (or its designees) as set forth in this Section 7. In
            addition to such Quarterly Board Package, the Company shall also
            furnish to the Lender, as soon as practicable after the end of each
            month and in any event within thirty (30) days thereafter, (a) an
            unaudited consolidating balance sheet and statement of operations of
            the Company and its subsidiaries, if any, as of and for the period
            ending each such month prepared in accordance with generally
            accepted accounting principles applied on a consistent basis (except
            (i) as otherwise may be indicated in such financial statements or
            notes thereto or (ii) to extent they may not include footnotes),
            subject to normal year-end audit adjustments, (b) accounts
            receivables aging reports for the Company and its subsidiaries as of
            the end of each such month, and (c) a report that shows the balances
            of the individual accounts that make up the general ledger of the
            Company as of the end of each such month.

                  (iv) Termination of Rights. All rights set forth under this
            Section 7(a) shall terminate in their entirety and shall no longer
            be of any legal effect upon the full payment of the outstanding
            principal and interest under the Notes, except that any designee of
            the Lender serving as a member of the Board shall, if so requested
            by the Board, continue to do so until such time as his successor has
            been duly elected and qualified.

            (b) Source Code Escrow. Within five (5) business days of the First
Closing, the Company shall: (i) cause Lender to be enrolled as a "beneficiary"
under, at the election of the Company, either that certain Master Escrow
Agreement between Producer and FortKnox, dated as of July 20, 1995 or that
certain Master Preferred Escrow Agreement between Data Securities International,
Inc. and the Company, dated as of October 21, 2001 (the agreement under which
Lender elects to be enrolled under is referred to herein as the "Source Code
Escrow Agreement"); and (ii) cause an Event of Default under the Notes to be
added as an additional release condition to the Source Code Escrow Agreement;
provided, however, that by virtue of the release under the Source Code Escrow
Agreement Lender shall have no rights to use, modify, sell, distribute, sell or
otherwise dispose of the source code held in escrow under such Source Code
Escrow Agreement following an Event of Default other than through a foreclosure
sale or bankruptcy proceeding. Lender shall pay all costs directly associated
with its enrollment under the Source Code Escrow Agreement.

            (c) Insurance. Lender shall, within two (2) business days following
the First Closing, procure an endorsement or rider naming Lender as loss payee
and/or additional insured with respect to the Collateral under all of the
Company's insurance policies.

            8. Miscellaneous.

            (a) Waivers and Amendments. Any provision of this Agreement may be
amended, waived or modified only upon the written consent of the Company and the
Lender.

            (b) Governing Law. This Agreement and all actions arising out of or
in connection with this Agreement shall be governed by and construed in
accordance with the laws of the State of California, without regard to the
conflicts of law provisions of the State of California or of any other
jurisdiction. EACH OF THE LENDER AND THE COMPANY, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY
JURY AS TO ANY ISSUE RELATING HERETO IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
ARISING OUT OF OR RELATING TO THIS AGREEMENT.

            (c) Survival. The representations, warranties, covenants and
agreements made herein shall survive the execution and delivery of this
Agreement.

            (d) Successors and Assigns. Subject to the restrictions on transfer
described in Sections 8(e) and 8(f) below, the rights and obligations of the
Company and the Lender of the Notes shall be binding upon and benefit the
successors, assigns, heirs, administrators and transferees of the parties.

            (e) Registration, Transfer and Replacement of the Notes. The Notes
issuable under this Agreement shall be registered notes. The Company will keep,
at its principal executive offices, books for the registration and registration
of transfer of the Notes. Prior to presentation of any Note for registration of
transfer, the Company shall treat the Person in whose name such Note is
registered as the owner and holder of such Note for all purposes whatsoever,
whether or not such Note shall be overdue, and the Company shall not be affected
by notice to the contrary. Subject to any restrictions on or conditions to
transfer set forth in any Note, the holder of any Note, at its option, may in
person or by duly authorized attorney surrender the same for exchange at the
Company's principal executive offices, and promptly thereafter and at the
Company's expense, except as provided below, receive in exchange therefor one or
more new Note(s), each in the principal requested by such holder, dated the date
to which interest shall have been paid on the Note so surrendered or, if no
interest shall have yet been so paid, dated the date of the Note so surrendered
and registered in the name of such Person or Persons as shall have been
designated in writing by such holder or its attorney for the same principal
amount as the then unpaid principal amount of the Note so surrendered. Upon
receipt by the Company of evidence reasonably satisfactory to it of the
ownership of and the loss, theft, destruction or mutilation of any Note and (a)
in the case of loss, theft or destruction, of indemnity reasonably satisfactory
to it; or (b) in the case of mutilation, upon surrender thereof, the Company, at
its expense, will execute and deliver in lieu thereof a new Note executed in the
same manner as the Note being replaced, in the same principal amount as the
unpaid principal amount of such Note and dated the date to which interest shall
have been paid on such Note or, if no interest shall have yet been so paid,
dated the date of such Note.

            (f) Assignment by the Company. The rights, interests or obligations
hereunder may not be assigned, by operation of law or otherwise, in whole or in
part, by the Company without the prior written consent of the Lender.

            (g) Entire Agreement. This Agreement together with the other
Transaction Documents constitute and contain the entire agreement among the
Company and Lenders and supersede any and all prior agreements, negotiations,
correspondence, understandings and communications among the parties, whether
written or oral, respecting the subject matter hereof.

            (h) Notices. All notices, requests, demands, consents, instructions
or other communications required or permitted hereunder shall be in writing and
faxed or delivered via courier to each party as follows:

            if to the Lender, to:

                  Group 1 Software, Inc.
                  4200 Parliament Place, Suite 600
                  Lanham, Maryland, 20706
                  Tel: (301) 918-0400
                  Fax: (301) 918-0430
                  Attention: General Counsel

            with a copy to:

                  Cadwalader, Wickersham & Taft LLP
                  100 Maiden Lane
                  New York, New York 10038
                  Tel: (212) 504-6057
                  Fax: (212) 504-6666
                  Attention: Louis J. Bevilacqua, Esq.

            or if to the Company, to:

                  Sagent Technology, Inc.
                  800 West El Camino Real
                  Suite 300
                  Mountain View, CA, 94040
                  Tel: (650) 815-3100
                  Fax: (650) 815-3500
                  Attention: Chief Executive Officer

            with a copy to:

                  Wilson Sonsini Goodrich & Rosati
                  650 Page Mill Road
                  Palo Alto, CA 94304
                  Tel: (650) 493-9300
                  Fax: (650) 493-6811
                  Attention: Stephen M. Welles, Esq.

All such notices and communications shall be effective (a) when sent by Federal
Express or other overnight service of recognized standing, on the third business
day following the deposit with such service; and (b) when faxed, upon
confirmation of receipt.

            (i) Expenses. All fees and expenses incurred in connection with the
transactions contemplated hereby, without limitation, all legal fees and
expenses, shall be the obligation of the party incurring such expenses;
provided, however, that Lender shall be entitled to net against the $5,000,000
purchase price due from the Lender at the First Closing the reasonable fees and
expenses, including reasonable attorneys fees and expenses, incurred by the
Lender in connection with the preparation and negotiation of this Agreement and
the other Transaction Documents, such fees and expenses not to exceed $25,000 in
the aggregate.

            (j) Severability of this Agreement. If any provision of this
Agreement shall be judicially determined to be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.

            (k) Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be an original, but all of which together
shall be deemed to constitute one instrument.

                  [Remainder of page intentionally left blank]
<PAGE>

            IN WITNESS WHEREOF, the parties have caused this Agreement to be
duly executed and delivered by their proper and duly authorized officers as of
the date and year first written above.

                                       GROUP 1 SOFTWARE, INC.

                                       By: /s/ Mark D. Funston
                                           -----------------------------------
                                           Name:   Mark D. Funston
                                           Title:  Chief Executive Officer

                                       SAGENT TECHNOLOGY, INC.

                                       By: /s/ Andre Boisvert
                                           -----------------------------------
                                           Name:   Andre Boisvert
                                           Title:  Chairman and CEOEXHIBIT 10.2

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
THIS NOTE MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE
ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS NOTE UNDER SAID ACT OR
AN OPINION OF COUNSEL SATISFACTORY TO COMPANY THAT SUCH REGISTRATION IS NOT
REQUIRED.

                             SAGENT TECHNOLOGY, INC.
                             SECURED PROMISSORY NOTE

US$5,000,000                                                      April 15, 2003
                                                       Mountain View, California

            FOR VALUE RECEIVED Sagent Technology, Inc., a Delaware corporation
("Company"), promises to pay to Group 1 Software, Inc., a Delaware corporation
("Lender"), or its registered assigns, in lawful money of the United States of
America the principal sum FIVE MILLION DOLLARS ($5,000,000), or such lesser
amount as shall equal the outstanding principal amount hereof, together with
interest from the date of this Note on the unpaid principal balance at a rate
equal to 12 percent (12.00%) per annum, computed on the basis of the actual
number of days elapsed and a year of 365 days. All unpaid principal, together
with any then unpaid and accrued interest and other amounts payable hereunder,
shall be due and payable on the earlier of (i) July 31, 2003 (the "Maturity
Date"), or (ii) when, upon or after the occurrence of a Change of Control (as
defined below) or an Event of Default (as defined below), such amounts are
declared due and payable by Lender or made automatically due and payable in
accordance with the terms hereof. This Note is one of the Notes issued pursuant
to that certain Note Purchase Agreement dated April 15, 2003 (as amended,
modified or supplemented, the "Note Purchase Agreement") by and between Company
and Lender. Capitalized terms used but not otherwise defined herein shall have
the meaning ascribed thereto in the Note Purchase Agreement.

            THE OBLIGATIONS DUE UNDER THIS NOTE ARE SECURED BY A SECURITY
AGREEMENT DATED APRIL 15, 2003 (THE "SECURITY AGREEMENT") AND A PLEDGE AGREEMENT
DATED APRIL 15, 2003 (THE "PLEDGE AGREEMENT"), EACH OF WHICH IS EXECUTED BY
COMPANY FOR THE BENEFIT OF LENDER. ADDITIONAL RIGHTS OF LENDER ARE SET FORTH IN
THE SECURITY AGREEMENT.

            The following is a statement of the rights of Lender and the
conditions to which this Note is subject, and to which Lender, by the acceptance
of this Note, agrees:

            1. Definitions. As used in this Note, the following capitalized
terms have the following meanings:

            (a) "Act" shall mean the Securities Act of 1933, as amended.

            (b) "Affiliate" shall have the meaning set forth in Rule 12b-2
promulgated under the Securities Exchange Act of 1934, as amended.

            (c) "Collateral" has the meaning given to it in the Security
Agreement.

            (d) "Change of Control" shall mean (i) any consolidation or merger
involving the Company pursuant to which the Company's stockholders immediately
prior to such consolidation or merger own less than fifty percent (50%) of the
voting securities of the surviving entity or (ii) the sale of all or
substantially all of the assets of Company.

            (e) "Company" includes the corporation initially executing this Note
and any Person which shall succeed to or assume the obligations of Company under
this Note.

            (f) "Event of Default" has the meaning given to it in Section 7
hereof.

            (g) "GAAP" shall mean generally accepted accounting principles as
applied in the United States.

            (h) "Lender" shall mean the Person specified in the introductory
paragraph of this Note or any Person who shall at the time be the registered
Lender of this Note.

            (i) "Lender Expenses" shall mean all reasonable cost and expenses
(including reasonable attorney fees and expenses) incurred in connection with
the preparation, negotiation and enforcement of the Transaction Documents, and
Lender's reasonable attorneys fees and expenses incurred in amending, enforcing
or defending the Transaction Documents during and after an Event of Default (as
set forth in Section 5 hereof) whether or not a suit is brought.

            (j) "Lien" has the meaning given to it in the Note Purchase
Agreement.

            (k) "Note Purchase Agreement" has the meaning given to it in the
introductory paragraph hereof.

            (l) "Obligations" shall mean and include all loans, advances, debts,
liabilities and obligations, howsoever arising, owed by Company to Lender of
every kind and description (whether or not evidenced by any note or instrument
and whether or not for the payment of money), now existing or hereafter arising
under or pursuant to the terms of this Note or any of the other Transaction
Documents, including, all interest, fees, charges, expenses, attorneys' fees and
costs and accountants' fees and costs chargeable to and payable by Company
hereunder and thereunder, in each case, whether direct or indirect, absolute or
contingent, due or to become due, and whether or not arising after the
commencement of a proceeding under Title 11 of the United States Code (11 U.S.C.
Section 101 et seq.), as amended from time to time (including post-petition
interest) and whether or not allowed or allowable as a claim in any such
proceeding.

            (m) "Permitted Liens" has the meaning given to it in the Note
Purchase Agreement.

            (n) "Person" shall mean and include an individual, a partnership, a
corporation (including a business trust), a joint stock company, a limited
liability company, an unincorporated association, a joint venture or other
entity or a governmental authority.

            (o) "Pledge Agreement" has the meaning given to it in the second
paragraph hereof.

            (p) "Security Agreement" has the meaning given to it in the second
paragraph hereof.

            (q) "Transaction Documents" shall mean this Note, each of the other
Notes issued under the Note Purchase Agreement, the Note Purchase Agreement, the
Security Agreement and the Pledge Agreement together with any other document or
agreement executed and delivered in connection herewith or therewith.

            (r) "Material Adverse Effect" has the meaning given to it in the
Note Purchase Agreement.

            2. Interest.

            (a) Interest Rate. Accrued interest on this Note shall be payable on
the last business day of each calendar quarter until the outstanding principal
amount hereof shall be paid in full at maturity, with the first such payment due
on June 30, 2003.

            (b) Default Rate. All unpaid principal, together with any unpaid and
accrued interest and other amounts payable hereunder shall bear interest, from
and after the occurrence and during the continuance of an Event of Default, at a
rate equal to two and one-half percentage points (2 1/2%) above the interest
rate applicable immediately prior to the occurrence of such Event of Default or
the maximum rate permissible by law, whichever is less.

            3. Prepayment. The Company may at anytime, upon five (5) days prior
written notice to Lender, prepay this Note in whole; provided, however, that:
(i) the outstanding principal of this Note for purposes of such prepayment shall
be determined by multiplying the actual outstanding principal as of the date of
the written notice by 120% (the "Deemed Outstanding Principal") and (ii) any
such prepayment will be applied first to the payment of expenses due under this
Note and the other Transaction Documents, second to interest accrued on this
Note and third, if the amount of prepayment exceeds the amount of all such
expenses and accrued interest, to the payment of the Deemed Outstanding
Principal.

            4. Change of Control. Upon a Change of Control, all unpaid
principal, together with any then unpaid and accrued interest and other amounts
payable hereunder shall become immediately due and payable.

            5. Affirmative Covenants. Until such time as all unpaid principal,
together with any unpaid and accrued interest and other amounts payable
hereunder have been indefeasibly paid in full, Company shall:

            (a) Conduct of Business and Maintenance of Existence and Assets. (i)
Conduct continuously and operate actively its business according to good
business practices and maintain all of its properties useful or necessary in its
business in good working order and condition (reasonable wear and tear excepted
and except as may be disposed of in accordance with the terms of this Note),
including, without limitation, all intellectual property of Company and take all
actions necessary to enforce and protect the validity of any such intellectual
property; (ii) keep in full force and effect its existence and comply in all
material respects with the laws, rules and regulations governing the conduct of
its business where the failure to do so could reasonably be expected to have a
Material Adverse Effect; and (iii) make all such reports and pay all such
franchise and other taxes and license fees and do all such other acts and things
as may be lawfully required to maintain its rights, licenses, leases, powers and
franchises under the laws of the United States or any political subdivision
thereof where the failure to do so could reasonably be expected to have a
Material Adverse Effect on Company;

            (b) Violations. Promptly notify Lender in writing of any violation
by the Company of any law, statute, rule, regulation, or ordinance of any
governmental body, or of any agency thereof, applicable to Company which could
reasonably be expected to have a Material Adverse Effect;

            (c) Taxes. Make, and cause each Subsidiary to make, due and timely
payment or deposit of all material federal, state, and local taxes, assessments,
or contributions required of it by law, and will execute and deliver to the
Lender, promptly following the Lender's request therefore, appropriate
certificates attesting to the payment thereof; and

            (d) Operational Agreements. Upon the request of Lender, the Company
and Lender shall enter into a mutually acceptable OEM agreement and/or
distributor agreement with most favored nation status. Company and Lender also
agree to negotiate in faith an agreement whereby Company will provide Lender
with the right of refusal with respect to any of its future outsourcing of
research and development operations and any related training.

            6. Negative Covenants. Until such time as all unpaid principal,
together with any unpaid and accrued interest and other amounts payable
hereunder have been paid in full, Company shall not:

            (a) Indebtedness. Incur any Indebtedness, except (i) to Lender, (ii)
in connection with capital lease arrangements or purchase money indebtedness
incurred in the ordinary course of business, (iii) other Indebtedness incurred
in the ordinary course of business in an aggregate outstanding principal amount
not in excess of US$500,000 at any time or (iv) Indebtedness listed on the
Company Disclosure Letter;

            (b) Loans. Make advances, loans or extensions of credit to any
Person, including without limitation, any Subsidiary or Affiliate except for
extensions of credit in the nature of accounts receivable, prepaid expenses or
notes receivable arising from the sale, lease or license of goods or services in
the ordinary course of business.

            (c) Guarantees. Become liable upon the obligations or liabilities of
any Person by assumption, endorsement or guaranty thereof or otherwise, except
the endorsement of checks in the ordinary course of business or guaranties of
Indebtedness of a Subsidiary permitted by Section 6(a)(ii) or 6(a)(iii);

            (d) Dividends. Pay any dividends or make any other distribution or
payment on account of or in redemption, retirement or purchase of any capital
stock, or permit any of its Subsidiaries to do so, except that (i) Company may
repurchase the stock of former employees pursuant to stock repurchase agreements
as long as an Event of Default does not exist prior to such repurchase or would
not exist after giving effect to such repurchase or (ii) any Subsidiary may make
dividends or distributions to Company;

            (e) Nature of Business. Substantially change the nature of the
business in which it is presently engaged, nor purchase or invest, directly or
indirectly, in any assets or property other than in the ordinary course of
business for assets or property which are useful in, necessary for and are to be
used in its business as presently conducted;

            (f) Transactions with Affiliates. Directly or indirectly, purchase,
acquire or lease any property from, or sell, transfer or lease any property to,
or otherwise enter into any transaction or deal with, any Affiliate other than
in the ordinary course of business, on an arm's-length basis on terms and
conditions no less favorable than terms and conditions which would have been
obtainable from a Person other than an Affiliate;

            (g) Acquisitions. Acquire all or a substantial portion of the assets
or voting securities of any Person (or of any Subsidiary, division or operating
unit of any Person);

            (h) Partnerships. Enter into any partnership, joint venture or
similar arrangement whereby Company is obligated to make any payments or other
contributions in connection with such arrangements in excess of $75,000,
individually or in the aggregate;

            (i) Retention Payments. Without prior approval by Company's board of
directors or compensation committee thereof, make any retention or bonus payment
to any individual in an amount in excess of $100,000 individually or $250,000 in
the aggregate; or

            (j) Transfers to Subsidiaries. Transfer to Foreign Subsidiaries cash
or other assets in an aggregate Net Amount outstanding on any date in excess of
20% of the Company's market capitalization as of the close of the preceding
business day; provided, that

            (i) such transfers shall be made in the ordinary course of business,

            (ii) a reduction in Company's market capitalization after making any
      transfers that were permitted by this Section 6(j) shall not render such
      transfers in violation of this Section 6(j); and

            (iii) that in the event Company requests a waiver of this covenant,
      Lender shall not unreasonably withhold its consent thereto. As used in
      this Section 6(j),

                  (1) "Foreign Subsidiary" shall mean any Subsidiary of Company
            that was not incorporated or organized in the United States, and

                  (2) "Net Amounts" shall mean the aggregate outstanding amount
            of all transfers of cash or other assets to Foreign Subsidiaries,
            giving effect to (x) any previous or concurrent transfers of cash or
            other assets to Company from Foreign Subsidiaries and (y) any
            amounts previously or concurrently collected by Company in respect
            of accounts receivable that were invoiced directly by Company as a
            result of sales by Foreign Subsidiaries.

            7. Events of Default. The occurrence of any of the following shall
constitute an "Event of Default" under this Note:

            (a) Failure to Pay. Company shall fail to pay (i) when due any
principal or interest payment on the due date hereunder or (ii) any other
payment required under the terms of this Note or any other Transaction Documents
on the date due and such payment shall not have been made within three (3)
business days of Company's receipt of Lender's written notice to Company of such
failure to pay;

            (b) Voluntary Bankruptcy or Insolvency Proceedings. Company shall
(i) apply for or consent to the appointment of a receiver, trustee, liquidator
or custodian of itself or of all or a substantial part of its property, (ii) be
unable, or admit in writing its inability, to pay its debts generally as they
mature, (iii) make a general assignment for the benefit of its or any of its
creditors, (iv) be dissolved or liquidated, (v) commence a voluntary case or
other proceeding seeking liquidation, reorganization or other relief with
respect to itself or its debts under any bankruptcy, insolvency or other similar
law now or hereafter in effect or consent to any such relief or to the
appointment of or taking possession of its property by any official in an
involuntary case or other proceeding commenced against it, or (vi) take any
action for the purpose of effecting any of the foregoing;

            (c) Involuntary Bankruptcy or Insolvency Proceedings. Proceedings
for the appointment of a receiver, trustee, liquidator or custodian of Company
or of all or a substantial part of the property thereof, or an involuntary case
or other proceedings seeking liquidation, reorganization or other relief with
respect to Company or the debts thereof under any bankruptcy, insolvency or
other similar law now or hereafter in effect shall be commenced and an order for
relief entered or such proceeding shall not be dismissed or discharged within
thirty (30) days of commencement;

            (d) Insolvency. Company shall admit in writing or in a judicial
proceeding its inability to pay its debts as they come due or cease operations
of its present business;

            (e) Judgments. Any judgment or judgments are rendered or judgment
liens filed against Company for an aggregate amount in excess of US$500,000, not
otherwise covered by insurance, which within forty-five (45) days of such
rendering or filing is neither fully satisfied, stayed nor discharged of record;
except that this Section 7(e) shall not apply to any matters related to or
arising out of matters listed under Section 3(i) of the Company Disclosure
Letter;

            (f) Representations and Warranties. Any representation or warranty
made by Company in this Agreement, any Transaction Document or in any
certificate, furnished at any time in connection herewith or therewith shall not
have been true and correct in all material respects when made;

            (g) Covenants. Company shall be in breach of any covenant made
hereunder or in any Transaction Document and such breach shall remain uncured
for thirty (30) consecutive days.

            (h) Liens. Any Lien in favor of Lender created under the Security
Agreement or the Pledge Agreement with respect to any material portion of the
Collateral for any reason ceases to be or is not a valid and perfected Lien;

            (i) Seizure. Any material portion of the Collateral shall be seized
or taken by a governmental body, or Company or the title and rights of Company
or any original owner which is the owner of any material portion of the
Collateral shall have become the subject matter of claim, litigation, suit or
other proceeding which could, in the opinion of Lender, upon final
determination, result in impairment or loss of the security provided by this
Agreement or the Transaction Documents, and such action shall not have been
stayed or dismissed within forty-five (45) days;

            (j) Key Employee. Andre Boisvert shall cease to be employed by the
Company or Michael Shannahan shall cease to be retained as a contractor by the
Company for any reason whatsoever and a suitable replacement to the Lender's
reasonable satisfaction shall not have assumed their respective positions within
a period of forty-five (45) days after such position has first become vacated;
provided, however, that in the event that Michael Shannahan ceases to be
retained as a contractor by the Company, Lender hereby agrees that the continued
employment of Patty Szoka with the Company as the chief accounting officer shall
satisfy the foregoing replacement requirement with respect to the position held
by Michael Shannahan;

            (k) Value of Collateral. Company shall have acknowledged in writing
with the Securities and Exchange Commission that the value of a material portion
of its Intellectual Property has suffered a material diminution in value. In no
event shall any reduction solely in Company's goodwill be deemed a default under
this Section 7(k); or

            (l) Defaults. A default shall have occurred under any other
Indebtedness in an outstanding principal amount of $200,000 or more, which
default permits the holder thereof to accelerate the maturity of such
Indebtedness.

            8. Rights of Lender upon Default. Upon the occurrence or existence
of any Event of Default (other than an Event of Default, referred to in Sections
7(b) and 7(c)) and at any time thereafter during the continuance of such Event
of Default, Lender may, by written notice to Company, declare all outstanding
Obligations payable by Company hereunder to be immediately due and payable
without presentment, demand, protest or any other notice of any kind, all of
which are hereby expressly waived. Upon the occurrence or existence of any Event
of Default described in Sections 7(b) and 7(c), immediately and without notice,
all outstanding Obligations payable by Company hereunder shall automatically
become immediately due and payable, without presentment, demand, protest or any
other notice of any kind, all of which are hereby expressly waived. In addition
to the foregoing remedies, upon the occurrence or existence of any Event of
Default, Lender may exercise any other right power or remedy or otherwise
permitted to it by law, either by suit in equity or by action at law, or both.

            9. Expenses. Company shall reimburse and indemnify Lender for Lender
Expenses which shall include, without limitation, reasonable attorneys' fees
(including the allocated costs of in-house counsel) and disbursements incurred
by Lender (a) in all efforts made to enforce payment of any Obligation or effect
collection of any Collateral or (b) in instituting, maintaining, preserving,
enforcing and foreclosing on Lender's security interest in or Lien on any of the
Collateral or maintaining, preserving or enforcing any of Lender's rights
hereunder, in any case, whether through judicial proceedings or otherwise.

            10. Indemnity. Company shall indemnify Lender and its officers,
directors, Affiliates, attorneys, employees and agents (each, a "Indemnified
Party") from and against any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses and disbursements of any
kind or nature whatsoever (including, without limitation, fees and disbursements
of counsel) which may be imposed on, incurred by, or asserted against
Indemnified Party in any claim, litigation, proceeding or investigation
instituted or conducted by any governmental agency or instrumentality or any
other Person (other than another Indemnified Party or Company) relating to or
arising out of this Note or any other Transaction Document, whether or not
Indemnified Party is a party thereto, except to the extent that any of the
foregoing arises out of the negligence, gross negligence or misconduct of the
Indemnified Party.

            11. Successors and Assigns. Subject to the restrictions on transfer
described in Sections 14 and 15 below, the rights and obligations of Company and
Lender of this Note shall be binding upon and benefit the successors, assigns,
heirs, administrators and transferees of the parties.

            12. Entire Agreement. This Note together with the other Transaction
Documents constitute and contain the entire agreement among Company and Lender
and supersede any and all prior agreements, negotiations, correspondence,
understandings and communications among the parties, whether written or oral,
respecting the subject matter hereof.

            13. Waiver and Amendment. Any provision of this Note may be amended,
waived or modified upon the written consent of Company and Lender.

            14. Transfer of this Note. With respect to any offer, sale or other
disposition of this Note, Lender will give written notice to Company prior
thereto, describing briefly the manner thereof, together with a written opinion
of Lender's counsel, or other evidence if reasonably satisfactory to Company, to
the effect that such offer, sale or other distribution may be effected without
registration or qualification (under any federal or state law then in effect).
Upon receiving such written notice and reasonably satisfactory opinion, if so
requested, or other evidence, Company, as promptly as practicable, shall notify
Lender that Lender may sell or otherwise dispose of this Note, all in accordance
with the terms of the notice delivered to Company. If a determination has been
made pursuant to this Section 14 that the opinion of counsel for Lender, or
other evidence, is not reasonably satisfactory to Company, Company shall so
notify Lender promptly after such determination has been made. Each Note thus
transferred and each certificate representing the securities thus transferred
shall bear a legend as to the applicable restrictions on transferability in
order to ensure compliance with the Securities Act, unless in the opinion of
counsel for Company such legend is not required in order to ensure compliance
with the Securities Act. Company may issue stop transfer instructions to its
transfer agent in connection with such restrictions. Subject to the foregoing,
transfers of this Note shall be registered upon registration books maintained
for such purpose by or on behalf of Company. Prior to presentation of this Note
for registration of transfer, Company shall treat the registered Lender hereof
as the owner and Lender of this Note for the purpose of receiving all payments
of principal and interest hereon and for all other purposes whatsoever, whether
or not this Note shall be overdue and Company shall not be affected by notice to
the contrary.

            15. Assignment by Company. Neither this Note nor any of the rights,
interests or obligations hereunder may be assigned, by operation of law or
otherwise, in whole or in part, by Company without the prior written consent of
Lender.

            16. Notices. All notices, requests, demands, consents, instructions
or other communications required or permitted hereunder shall be in writing and
faxed or delivered by courier to each party at the respective addresses of the
parties as set forth in the Note Purchase Agreement, or at such other address or
facsimile number as Company shall have furnished to Lender in writing. All such
notices and communications shall be effective (a) when sent by Federal Express
or other overnight service of recognized standing, on the second business day
following the deposit with such service; and (b) when faxed, upon confirmation
of receipt.

            17. Usury. In the event any interest is paid on this Note that is
deemed to be in excess of the then legal maximum rate, then that portion of the
interest payment representing an amount in excess of the then legal maximum rate
shall be deemed a payment of principal and applied against the principal of this
Note.

            18. Waivers. Company hereby waives notice of default, presentment or
demand for payment, protest or notice of nonpayment or dishonor and all other
notices or demands relative to this instrument.

            19. Governing Law. This Note and all actions arising out of or in
connection with this Note shall be governed by and construed in accordance with
the laws of the State of California, without regard to the conflicts of law
provisions of the State of California, or of any other jurisdiction. EACH OF
LENDER AND COMPANY, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY
IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY AS TO ANY ISSUE RELATING HERETO IN
ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS NOTE.

                  [Remainder of page intentionally left blank.]
<PAGE>

            IN WITNESS WHEREOF, Company has caused this Note to be issued as of
the date first written above.

                                       GROUP 1 SOFTWARE, INC.

                                       By: /s/ Mark D. Funston
                                           ----------------------------------
                                           Name:   Mark D. Funston
                                           Title:  Chief Executive Officer

                                       SAGENT TECHNOLOGY, INC.

                                       By: /s/ Andre Boisvert
                                           ----------------------------------
                                           Name:   Andre Boisvert
                                           Title:  Chairman and CEO

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