Document:

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                                                                    Exhibit 10.8
                                                                    ------------
                                    WARRANT

   to Purchase up to an Aggregate of _____ Convertible Preferred C-1 Shares
                          (Subject to Adjustment) of
                               RTS Software Ltd.
                             at NIS 0.1 per share

   THIS IS TO CERTIFY that _________________ (the "Holder") is entitled to
purchase, subject to the provisions of this Warrant, from RTS Software Ltd. (the
"Company"), at any time on or after the date hereof (the "Effective Date"), an
aggregate of up to ______ (subject to adjustment) fully and nonassessable
Convertible Preferred Shares, nominal value New Israeli Shekel ("NIS") 0.1 per
share (the "Convertible Preferred Shares"), of the Company at a price of NIS 0.1
per share (the "Exercise Price"). In the event that all of the outstanding
Convertible Preferred Shares are converted into Ordinary Shares, this Warrant
shall be exercisable solely for such Ordinary Shares and any references
throughout this Warrant to shares of Convertible Preferred Shares shall be
deemed to refer to the Ordinary Shares into which the Convertible Preferred
Shares may be converted. The amount and kind of securities purchasable pursuant
to the rights granted hereunder and the Exercise Price for such securities are
subject to adjustment pursuant to the further provisions of this Warrant.

   1.     EXERCISE OF WARRANT

          Subject to the provisions hereof, this Warrant may be exercised in
          whole or in part, at any time or from time to time on or after the
          Effective Date. This Warrant shall be exercised by presentation and
          surrender hereof to the Company at the principal office of the
          Company; accompanied by

          1.  a written notice of exercise and

          2.  payment to the Company, for the account of the Company, of the
              Exercise Price for the number of shares specified in such notice.

          The Exercise Price for the number of shares specified in the notice
          shall be payable in immediately available good funds, at the option of
          the Holder, in NIS.

          Upon such presentation and surrender, the Company shall issue promptly
          to the Holder the Convertible Preferred Shares to which the Holder is
          entitled hereunder.

          If this Warrant should be exercised in part only, the Company shall,
          upon surrender of this Warrant for cancellation, execute and deliver a
          new Warrant evidencing the rights of the Holder to purchase the
          balance of the Convertible Preferred Shares purchasable hereunder.
          Upon receipt by the Company of this
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                                      -2-

          Warrant, in proper form for exercise, the Holder shall be deemed to be
          the holder of record of the Convertible Preferred Shares issuable upon
          such exercise, notwithstanding that the share transfer books of the
          Company shall then be closed or that certificates representing such
          Convertible Preferred Shares shall not then be actually delivered to
          the Holder. The Company shall pay any and all expenses, any stamp duty
          and any other charges that may be payable in connection with the
          issuance of the Convertible Preferred Shares and the preparation and
          delivery of share certificates pursuant to this Paragraph 1 in the
          name of the Holder.

          No fractions of Convertible Preferred Shares shall be issued in
          connection with the exercise of this Warrant, and the number of
          Convertible Preferred Shares issued shall be rounded down to the
          nearest whole number.

          Notwithstanding the foregoing, in the event of (i) the initial public
          offering of the Company (the "IPO"), (ii) on or after the merger of
          the Company with or into another company or entity, in which the
          Company is not the surviving entity (a "Merger") or (iii) on or after
          the sale of all or substantially all of the assets of the Company (a
          "Sale") then, in lieu of exercising this Warrant as provided above, in
          whole or in part, the Holder may elect to receive simultaneously with
          the Closing of the IPO, or simultaneously with the closing of the
          Merger or Sale, by the surrender and cancellation of this Warrant or
          any such portion thereof to the Company, Convertible Preferred Shares
          equal to the value of the Warrant (or the portion thereof being
          canceled) by written notice of such election to the Company, at the
          principal office of the Company, in which event the Company shall
          issue to the Holder, for no additional consideration, that number of
          Convertible Preferred Shares computed using the following formula:

                           Y(A - B)
              X   =    -----------------
                               A

          X   equals the number of Convertible Preferred Shares to be issued to
              the Holder;

          Y   equals the number of Convertible Preferred Shares which would
              otherwise have been purchasable under this Warrant (or the portion
              thereof being canceled);

          B   equals the Exercise Price in effect at the time of exercise
              pursuant to this formula (as may have been or be adjusted pursuant
              to the terms of this Warrant); and

          A   shall equal the "Fair Value" of one share of the Company's
              Convertible Preferred Shares. Fair Value shall mean in the event
              that this Warrant is exercised in accordance with the above
              formula (i) if in connection with an IPO, then the Fair Value
              shall equal the price (as sold to the public) of that number of
              the Company's Ordinary Shares into which one share of the
              Company's Preferred Shares is Convertible, or (ii) if in
              connection with a Merger or Sale, the value of such share(s) as
              determined for the
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                                      -3-

              purposes of the Merger or Sale, or (iii) if other than in
              connection with an IPO or a Merger or Sale and if a public market
              exists for the securities then subject to this Warrant and such
              securities are listed on a U.S. nationally recognized stock
              exchange or on the Nasdaq stock market, then the Fair Value shall
              equal the last sale or trading price of such securities as
              reported on such exchange or market, as applicable; provided,
              however, if no public market exists for the securities then the
              Fair Value shall be determined in good faith by the Board of
              Directors of the Company, but if such determination is challenged
              in good faith by the Holder, then as determined by an independent
              appraiser mutually satisfactory to the Company and the Holder,
              which determination shall be binding upon the parties.

   2.   RESERVATION OF SHARES: PRESERVATION OF RIGHTS

        The Company hereby agrees that at all times it will maintain and reserve
        such number of authorized but unissued Ordinary Shares so that this
        Warrant may be exercised without additional authorization of Convertible
        Preferred Shares after giving effect to all other options, warrants,
        convertible securities and other rights to acquire Convertible Preferred
        Shares of the Company. In addition, the Company will maintain and
        reserve such number of authorized but unissued Ordinary Shares as will
        be sufficient to permit the conversion in full of all issued or issuable
        Convertible Preferred Shares. All shares of Convertible Preferred Shares
        (and Ordinary Shares issuable upon conversion thereof) issuable pursuant
        to the terms hereof, when issued upon exercise of this Warrant in
        accordance with the terms hereof shall be duly and validly issued and
        fully paid and nonassessable, not subject to preemptive rights and shall
        be free and clear of all liens, encumbrances, equities and claims. The
        Company further agrees that it will not, by charter amendment or through
        reorganization, consolidation, merger, dissolution or sale of assets, or
        by any other voluntary act, avoid or seek to avoid the observance or
        performance of any of the covenants, stipulations or conditions to be
        observed or performed hereunder by the Company.

   3.   EXCHANGE OR LOSS OF WARRANT

        This Warrant is exchangeable, upon presentation and surrender hereof at
        the principal office of the Company, only in connection with a partial
        exercise hereof. The Company shall be under no obligation to issue
        replacement warrants for the aggregate number of shares covered hereby
        except as described herein. The term "Warrant" as used herein includes
        any Warrant or Warrants for which this Warrant may be exchanged. Upon
        receipt by the Company of evidence reasonably satisfactory to it of the
        loss, theft, destruction or mutilation of this Warrant, and (in the case
        of loss, theft or destruction) of reasonably satisfactory
        indemnification, and upon surrender and cancellation of this Warrant, if
        mutilated, the Company will execute and deliver a new Warrant of like
        terms, tenor and date.

   4.   ADJUSTMENT
<PAGE>

                                      -4-

        The number of Convertible Preferred Shares (and the number of Ordinary
        Shares issuable upon conversion thereof) purchasable upon the exercise
        of this Warrant and the Exercise Price shall be subject to adjustment
        from time to time or upon exercise as provided in this paragraph 4.

        4.2.  If, during the term of this Warrant, the Company shall distribute
              a stock dividend or shares of capital stock pursuant to a
              reclassification of its Convertible Preferred Shares to the
              holders of Convertible Preferred Shares (i.e., bonus shares), the
              number of Convertible Preferred Shares purchasable upon exercise
              of this Warrant shall be increased by multiplying such number of
              shares to be purchased under this Warrant by a fraction of which
              the denominator shall be the number of Convertible Preferred
              Shares outstanding at the close of business on the day immediately
              preceding the date of such distribution and the numerator shall be
              the sum of such number of shares and the total number of bonus
              shares, such increase to become effective immediately after the
              opening of business on the date following such distribution, and
              upon the happening of such an event the Exercise Price shall be
              adjusted appropriately.

        4.2.  If, during the term of this Warrant, the outstanding Convertible
              Preferred Shares shall be subdivided into a greater number of
              Convertible Preferred Shares, the number of Convertible Preferred
              Shares purchasable upon exercise of this Warrant at the opening of
              business on the day following the day upon which such subdivision
              becomes effective shall be proportionately increased, and,
              conversely, if the outstanding Convertible Preferred Shares shall
              each be combined into a smaller number of Convertible Preferred
              Shares, the number of Convertible Preferred Shares purchasable
              upon exercise of this Warrant at the opening of business on the
              day following the day upon which such combination becomes
              effective shall be proportionately decreased, and in each such
              case the Exercise Price shall be adjusted appropriately.

        4.3.  Reorganization, Reclassification, Merger, Consolidation or
              -----------------------------------------------------------
              Disposition of Assets
              ---------------------

              (a)   In case the Company shall reorganize its capital, reclassify
                    its capital stock, consolidate or merge with or into another
                    corporation or sell, transfer or otherwise dispose of all or
                    substantially all of its property, assets or business to
                    another corporation and pursuant to the terms of such
                    reorganization, reclassification, merger, consolidation or
                    disposition of assets, (i) shares of capital stock of the
                    successor or acquiring corporation or of the Company (if it
                    is the surviving corporation) or (ii) any cash, shares of
                    stock or other securities or property of any nature
                    whatsoever (including warrants or other subscription or
                    purchase rights) in addition to or in lieu of capital stock
                    of the successor or acquiring corporation ("Other Property")
                    are to be received by or distributed to the holders of
                    Convertible Preferred Shares of the Company who are holders
                    immediately prior to such transaction,
<PAGE>

                                      -5-

                    then the Holder shall have the right thereafter to receive,
                    upon exercise of this Warrant, the number of shares of
                    capital stock of the successor or acquiring corporation or
                    of the Company, if it is the surviving corporation, and
                    Other Property receivable upon or as a result of such
                    reorganization, reclassification, merger, consolidation or
                    disposition of assets by a holder of the number of shares of
                    Convertible Preferred Shares for which this Warrant is
                    exercisable immediately prior to such event.

              (b)   In case of any such reorganization, reclassification,
                    merger, consolidation or disposition of assets, the
                    successor or acquiring corporation shall expressly assume
                    the due and punctual observance and performance of each and
                    every covenant and condition of this Warrant to be performed
                    and observed by the Company and all the obligations and
                    liabilities hereunder, subject to such modifications as may
                    be deemed appropriate (as determined by resolution of the
                    Board of Directors of the Company) in order to provide for
                    adjustments of shares of the Convertible Preferred Shares
                    for which this Warrant is exercisable, which modifications
                    shall be as nearly equivalent as practicable to the
                    adjustments provided for in this Section 4.

              (c)   The provisions of this subsection 4.3 shall similarly apply
                    to successive reorganizations, reclassifications, mergers,
                    consolidations or disposition of assets.

        4.4.  Other Dilutive Events
              ---------------------

              In case any event shall occur as to which the preceding
              subsections 4.1 through 4.3 are not strictly applicable but as to
              which the failure to make any adjustment would not fairly protect
              the purchase rights represented by this Warrant in accordance with
              the essential intent and principles hereof then, in each such
              case, the Board of Directors of the Company shall, in good faith,
              determine what adjustments are necessary to preserve the purchase
              rights of the Holder represented by this Warrant. The Company will
              notify the Holder of any such adjustments.

    5.  NOTICE OF CERTAIN EVENTS

        The holder of this Warrant shall be entitled to the same rights to
        receive notices of corporate actions as any holder of Convertible
        Preferred Shares as provided in the Company's Articles of Association or
        otherwise. Notwithstanding, in case at any time:

        5.1.  There shall be any merger of the Company with, or any statutory
              exchange of the Company's securities with the securities of, or
              sale of all or substantially all of its assets to, another
              corporation; or

        5.2.  There shall be a voluntary or involuntary dissolution, liquidation
              or winding up of the Company;
<PAGE>

                                      -6-

        then, in any one or more of such cases, the Company shall give written
        notice, by first class mail, postage prepaid, addressed to the Holder at
        the address of the Holder as shown on the books of the Company, of the
        date on which such merger, exchange, sale, dissolution, liquidation or
        winding up shall take place, as the case may be. Such notice shall also
        specify the date as of which the holders of Convertible Preferred Shares
        of record shall be entitled to exchange their Convertible Preferred
        Shares for securities or other property deliverable upon such merger,
        exchange, sale, dissolution, liquidation or winding up, as the case may
        be. Such written notice shall be given at least twenty (20) days prior
        to the action in question.

    6.  NOTICE OF ADJUSTMENTS

        Whenever the number of Convertible Preferred Shares for which this
        Warrant is exercisable is adjusted as provided in paragraph 4 hereof or
        whenever the rate at which the Convertible Preferred Shares are
        convertible into Ordinary Shares is adjusted pursuant to the Company's
        Articles of Association, the Company shall promptly compute such
        adjustment and mail to the Holder at the last address provided to the
        Company in writing a certificate, signed by the principal financial
        office of the Company, setting forth the number of Convertible Preferred
        Shares (and the number of Ordinary Shares into which the Convertible
        Preferred Shares may be converted) for which this Warrant is exercisable
        and the exercise price as a result of such adjustment, a brief statement
        of the facts requiring such adjustment and the detailed computation
        thereof and when such adjustment has or will become effective.
<PAGE>

                                      -7-

    7.  RIGHTS OF THE HOLDER

        7.1.  Without limiting the foregoing or any remedies available to the
              Holder, the Holder will be entitled to specific performance of the
              obligations hereunder, and injunctive relief against actual or
              threatened violations of the obligations of any person subject to
              this Warrant.

        7.2.  This Warrant shall not entitle the Holder to any voting rights or
              other rights as a shareholder of the Company whatsoever, except
              the rights expressed herein and no dividend or interest shall be
              payable or accrue in respect of this Warrant.

    8.  REGISTRATION RIGHTS

        The Holder shall have the registration and other rights and be subject
        to the obligations, set forth in the Investors Rights Agreement, dated
        the date hereof, as it may be amended from time to time as provided
        therein, with respect to the Ordinary Shares issued or issuable upon
        conversion of the Convertible Preferred Shares issuable or issued upon
        the exercise of this Warrant.

    9.  NOTICE GENERALLY

        Any notice, demand, request, consent, approval, declaration, delivery or
        communication hereunder to be made pursuant to the provisions of this
        Warrant shall be sufficiently given or made if in writing and shall be
        deemed to have been validly served, given or delivered (a) when sent
        after receipt of confirmation or answer back if sent by telex or
        telecopy or other similar facsimile transmission, (b) two (2) business
        days after deposit with a reputable international two (2) day courier
        with all charges prepaid or (c) when delivered if hand-delivered by
        messenger, all of which shall be properly addressed to the party to be
        notified and sent to the address or number indicated, to the Holder, or
        the holder of Convertible Preferred Shares (or the Ordinary Shares
        issuable upon conversion thereof) at its last known address appearing on
        the books of the Company maintained for such purpose, and to the Company
        at:

                              RTS Software, Ltd.
                              Science Based Industries Campus
                              P.O. Box 23052
                              Jerusalem 91230, Israel

        or at such other address as may be submitted by notice given as herein
        provided. The giving of any notice required hereunder may be waived in
        writing by the party entitled to receive such notice.
<PAGE>

                                      -8-

    10.  LIMITATION ON TRANSFER

         This Warrant shall be transferable in whole or in part only to a
         subsidiary of the Holder.

    11.  GOVERNING LAW

         This Warrant shall be governed by, and construed in accordance with,
         the laws of the State of Israel, without giving effect to the rules
         respecting conflict of law, and the parties hereto irrevocably submit
         to the exclusive jurisdiction of the Courts of Israel in respect of any
         dispute or matter arising out of or connected with this Warrant.

         DATED:   February 27, 1998               RTS SOFTWARE LTD.

                                        By:          __________________
                                        Name:        __________________
                                        Title:       __________________<PAGE>
                                                                    Exhibit 10.9
                                                                    ------------

                                    WARRANT

   to Purchase up to an Aggregate of  ______ Series C-2 Convertible Preferred
                                     Shares
                           (Subject to Adjustment) of
                              R.T.S. Software Ltd.
                            at U.S. $5.75 per share
                                     ----

                VOID AFTER 10:00 a.m. (prevailing Tel Aviv time)

                   on the Termination Date (as defined below)

    THIS IS TO CERTIFY that the holder specified below ("Holder") is entitled to
purchase, subject to the provisions of this Warrant, from R.T.S. Software Ltd.
(the "Company"), at any time on or after June 1, 1999 (the "Effective Date") and
until the Termination Date (as defined below), an aggregate of up to _____
(subject to adjustment) fully paid and nonassessable Series C-2 Convertible
Preferred Shares, nominal value New Israeli Shekel ("NIS") 0.1 per share (the
"Convertible Preferred Shares"), of the Company at a price of US$5.75 per share
or the NIS equivalent thereof (the "Exercise Price").  In the event that all of
the outstanding Convertible Preferred Shares are converted into Ordinary Shares,
this Warrant shall be exercisable solely for such Ordinary Shares and any
references throughout this Warrant to shares of Convertible Preferred Shares
shall be deemed to refer to the Ordinary Shares into which the Convertible
Preferred Shares may be converted. The amount and kind of securities purchasable
pursuant to the rights granted hereunder and the Exercise Price for such
securities are subject to adjustment pursuant to the further provisions of this
Warrant.

1.  EXERCISE OF WARRANT

    Subject to the provisions hereof, this Warrant may be exercised by the
    Holder in whole or in part at any time or from time to time following the
    Effective Date and until the earlier of (i) June 1, 2004, (ii) a
    consolidation, merger or reorganization involving the Company or a sale of
    all or substantially all of the assets of the Company, or (iii) sale or
    transfer of the majority of the issued and outstanding share capital of the
    Company other than through an initial public offering ("IPO") of the
    Company's securities (the "Termination Date") (the period commencing on the
    Effective Date and ending on the Termination Date shall be referred to
    herein as the "Warrant Exercise Period").

    This Warrant shall be exercised by presentation and surrender hereof to the
    Company at the principal office of  the Company; accompanied by

    1.  a written notice of exercise; and

    2.  payment to the Company, for the account of the Company, of the Exercise
        Price for the number of Convertible Preferred Shares specified in such
        notice.
<PAGE>

                                      -2-

        The Exercise Price for the number of Convertible Preferred Shares
        specified in the notice shall be payable in immediately available funds,
        at the option of the Holder, in U.S. dollars or the NIS equivalent
        thereof, based on the Representative Rate of Exchange published by the
        Bank of Israel known as of the time of payment.

        Upon such presentation and surrender, the Company shall issue promptly
        to the Holder the Convertible Preferred Shares to which the Holder is
        entitled hereunder.

        If this Warrant is exercised in part only, the Company shall, upon
        surrender of this Warrant for cancellation, execute and deliver a new
        Warrant evidencing the rights of the Holder to purchase the balance of
        the Convertible Preferred Shares purchasable hereunder. Upon receipt by
        the Company of this Warrant, in proper form for exercise, the Holder
        shall be deemed to be the holder of record of the Convertible Preferred
        Shares issuable upon such exercise, notwithstanding that the share
        transfer books of the Company shall then be closed or that certificates
        representing such Convertible Preferred Shares shall not then be
        actually delivered to the Holder. The Company shall pay any and all
        expenses, any stamp duty and any other charges that may be payable in
        connection with the issuance of the Convertible Preferred Shares and the
        preparation and delivery of share certificates pursuant to this
        Paragraph 1 in the name of the Holder.

        No fractions of Convertible Preferred Shares shall be issued in
        connection with the exercise of this Warrant, and the number of
        Convertible Preferred Shares issued shall be rounded down to the nearest
        whole number.

        Notwithstanding the foregoing, in lieu of exercising this Warrant as
        provided above, in whole or in part, the Holder may elect to receive, by
        the surrender and cancellation of this Warrant or any such portion
        thereof to the Company, Convertible Preferred Shares equal to the value
        of the Warrant (or the portion thereof being canceled) by written notice
        of such election to the Company, at the principal office of the Company,
        in which event the Company shall issue to the Holder, for no additional
        consideration, that number of Convertible Preferred Shares computed
        using the following formula:

                    Y(A - B)
            X  =  ------------
                        A

        X   equals the number of Convertible Preferred Shares to be issued to
            the Holder;

        Y   equals the number of Convertible Preferred Shares which would
            otherwise have been purchasable under this Warrant (or the portion
            thereof being canceled);

        B   equals the Exercise Price in effect at the time of exercise pursuant
            to this formula (as may have been or be adjusted pursuant to the
            terms of this Warrant); and
<PAGE>

                                      -3-

        A   shall equal the "Fair Value" of one share of the Company's
            Convertible Preferred Shares. Fair Value shall mean in the event
            that this Warrant is exercised in accordance with the above formula
            (i) if in connection with an IPO, then the Fair Value shall equal
            the price (as sold to the public) of that number of the Company's
            Ordinary Shares into which one share of the Company's Preferred
            Shares is Convertible, or (ii) if in connection with a Merger or
            Sale, the value of such share(s) as determined for the purposes of
            the Merger or Sale, or (iii) if other than in connection with an IPO
            or a Merger or Sale and if a public market exists for the securities
            then subject to this Warrant and such securities are listed on a
            U.S. nationally recognized stock exchange or on the Nasdaq stock
            market, then the Fair Value shall equal the last sale or trading
            price of such securities as reported on such exchange or market, as
            applicable; provided, however, if no public market exists for the
            securities then the Fair Value shall be determined in good faith by
            the Board of Directors of the Company, but if such determination is
            challenged in good faith by the Holder, then as determined by an
            independent appraiser mutually satisfactory to the Company and the
            Holder, which determination shall be binding upon the parties.

2.   RESERVATION OF SHARES: PRESERVATION OF RIGHTS

     The Company hereby agrees that at all times it will maintain and reserve
     such number of authorized but unissued Convertible Preferred Shares so that
     this Warrant may be exercised without additional authorization of
     Convertible Preferred Shares after giving effect to all other options,
     warrants, convertible securities and other rights to acquire Convertible
     Preferred Shares of the Company. In addition, the Company will maintain and
     reserve such number of authorized but unissued Ordinary Shares as will be
     sufficient to permit the conversion in full of all issued or issuable
     Convertible Preferred Shares. All shares of Convertible Preferred Shares
     (and Ordinary Shares issuable upon conversion thereof) issuable pursuant to
     the terms hereof, when issued upon exercise of this Warrant in accordance
     with the terms hereof shall be duly and validly issued, fully paid and
     nonassessable, not subject to preemptive rights and shall be free and clear
     of all liens, encumbrances, equities and claims. The Company further agrees
     that it will not, by charter amendment or through reorganization,
     consolidation, merger, dissolution or sale of assets, or by any other
     voluntary act, avoid or seek to avoid the observance or performance of any
     of the covenants, stipulations or conditions to be observed or performed
     hereunder by the Company.

3.   EXCHANGE OR LOSS OF WARRANT

     This Warrant is exchangeable, upon presentation and surrender hereof at the
     principal office of the Company, only in connection with a partial exercise
     hereof. The Company shall be under no obligation to issue replacement
     warrants for the aggregate number of shares covered hereby except as
     described herein. The term "Warrant" as used herein includes any Warrant or
     Warrants for which this Warrant may be exchanged. Upon receipt by the
<PAGE>

                                      -4-

     Company of evidence reasonably satisfactory to it of the loss, theft,
     destruction or mutilation of this Warrant, and (in the case of loss, theft
     or destruction) of reasonably satisfactory indemnification, and upon
     surrender and cancellation of this Warrant, if mutilated, the Company will
     execute and deliver a new Warrant of like terms, tenor and date.

4.   ADJUSTMENT

     The number of Convertible Preferred Shares (and the number of Ordinary
     Shares issuable upon conversion thereof) purchasable upon the exercise of
     this Warrant and the Exercise Price shall be subject to adjustment from
     time to time or upon exercise as provided in this paragraph 4.

     4.1.  If, during the term of this Warrant, the Company shall distribute a
           stock dividend or shares of capital stock pursuant to a
           reclassification of its Convertible Preferred Shares to the holders
           of Convertible Preferred Shares (i.e., bonus shares), the number of
           Convertible Preferred Shares purchasable upon exercise of this
           Warrant shall be increased by multiplying such number of shares to be
           purchased under this Warrant by a fraction of which the denominator
           shall be the number of Convertible Preferred Shares outstanding at
           the close of business on the day immediately preceding the date of
           such distribution and the numerator shall be the sum of such number
           of shares and the total number of bonus shares, such increase to
           become effective immediately after the opening of business on the
           date following such distribution, and upon the happening of such an
           event the Exercise Price shall be adjusted appropriately.

     4.2.  If, during the term of this Warrant, the outstanding Convertible
           Preferred Shares shall be subdivided into a greater number of
           Convertible Preferred Shares, the number of Convertible Preferred
           Shares purchasable upon exercise of this Warrant at the opening of
           business on the day following the day upon which such subdivision
           becomes effective shall be proportionately increased, and,
           conversely, if the outstanding Convertible Preferred Shares shall
           each be combined into a smaller number of Convertible Preferred
           Shares, the number of Convertible Preferred Shares purchasable upon
           exercise of this Warrant at the opening of business on the day
           following the day upon which such combination becomes effective shall
           be proportionately decreased, and in each such case the Exercise
           Price shall be adjusted appropriately.

     4.3.  Reorganization, Reclassification, Merger, Consolidation or
           ----------------------------------------------------------
           Disposition of Assets
           ---------------------

           (a)  In case the Company shall reorganize its capital, reclassify its
                capital stock, consolidate or merge with or into another
                corporation or sell, transfer or otherwise dispose of all or
                substantially all of its property, assets or business to another

<PAGE>

                                      -5-

               corporation and pursuant to the terms of such reorganization,
               reclassification, merger, consolidation or disposition of assets,
               (i) shares of capital stock of the successor or acquiring
               corporation or of the Company (if it is the surviving
               corporation) or (ii) any cash, shares of stock or other
               securities or property of any nature whatsoever (including
               warrants or other subscription or purchase rights) in addition to
               or in lieu of capital stock of the successor or acquiring
               corporation ("Other Property") are to be received by or
               distributed to the holders of Convertible Preferred Shares of the
               Company who are holders immediately prior to such transaction,
               then the Holder shall have the right thereafter to receive, upon
               exercise of this Warrant, the number of shares of capital stock
               of the successor or acquiring corporation or of the Company, if
               it is the surviving corporation, and Other Property receivable
               upon or as a result of such reorganization, reclassification,
               merger, consolidation or disposition of assets by a holder of the
               number of shares of Convertible Preferred Shares for which this
               Warrant is exercisable immediately prior to such event.

          (b)  In case of any such reorganization, reclassification, merger,
               consolidation or disposition of assets, the successor or
               acquiring corporation shall expressly assume the due and punctual
               observance and performance of each and every covenant and
               condition of this Warrant to be performed and observed by the
               Company and all the obligations and liabilities hereunder,
               subject to such modifications as may be deemed appropriate (as
               determined by resolution of the Board of Directors of the
               Company) in order to provide for adjustments of shares of the
               Convertible Preferred Shares for which this Warrant is
               exercisable, which modifications shall be as nearly equivalent as
               practicable to the adjustments provided for in this Section 4.

          (c)  The provisions of this subsection 4.3 shall similarly apply to
               successive reorganizations, reclassifications, mergers,
               consolidations or disposition of assets.

4.4.   Other Dilutive Events
       ---------------------

       In case any event shall occur as to which the preceding subsections 4.1
       through 4.3 are not strictly applicable but as to which the failure to
       make any adjustment would not fairly protect the purchase rights
       represented by this Warrant in accordance with the essential intent and
       principles hereof then, in each such case, the Board of Directors of the
       Company shall, in good faith, determine what adjustments are necessary to
       preserve the purchase rights of the Holder represented by this Warrant.
       The Company will notify the Holder of any such adjustments.
<PAGE>

                                      -6-

5.     NOTICE OF CERTAIN EVENTS

       The Holder of this Warrant shall not be entitled to the same rights to
       receive notices of corporate actions as any holder of Convertible
       Preferred Shares. Notwithstanding the foregoing, in case at any time:

       5.1.  There shall be any merger of the Company with, or any statutory
             exchange of the Company's securities with the securities of, or
             sale of all or substantially all of its assets to, another
             corporation; or

       5.2.  There shall be a voluntary or involuntary dissolution, liquidation
             or winding up of the Company;

       then, in any one or more of such cases, the Company shall give written
       notice, by first class mail, postage prepaid, addressed to the Holder at
       the address of the Holder as shown on the books of the Company, of the
       date on which such merger, exchange, sale, dissolution, liquidation or
       winding up shall take place, as the case may be. Such notice shall also
       specify the date as of which the holders of Convertible Preferred Shares
       of record shall be entitled to exchange their Convertible Preferred
       Shares for securities or other property deliverable upon such merger,
       exchange, sale, dissolution, liquidation or winding up, as the case may
       be. Such written notice shall be given at least twenty (20) days prior to
       the action in question.

6.     NOTICE OF ADJUSTMENTS

       Whenever the number of Convertible Preferred Shares for which this
       Warrant is exercisable is adjusted as provided in paragraph 4 hereof or
       whenever the rate at which the Convertible Preferred Shares are
       convertible into Ordinary Shares is adjusted pursuant to the Company's
       Articles of Association, the Company shall promptly compute such
       adjustment and mail to the Holder at the last address provided to the
       Company in writing a certificate, signed by the principal financial
       office of the Company, setting forth the number of Convertible Preferred
       Shares (and the number of Ordinary Shares into which the Convertible
       Preferred Shares may be converted) for which this Warrant is exercisable
       and the exercise price as a result of such adjustment, a brief statement
       of the facts requiring such adjustment and the detailed computation
       thereof and when such adjustment has or will become effective.

7.     RIGHTS OF THE HOLDER

       7.1.  Without limiting the foregoing or any remedies available to the
             Holder, the Holder will be entitled to specific performance of the
             obligations hereunder, and injunctive relief against actual or
             threatened violations of the obligations of any person subject to
             this Warrant.

       7.2.  This Warrant shall not entitle the Holder to any voting rights or
             other rights as a shareholder of the Company whatsoever, except the
             rights
<PAGE>

                                      -7-

             expressed herein and no dividend or interest shall be
             payable or accrue in respect of this Warrant.

8.    TAX ALLOCATION

      The Company and the Holder hereby acknowledge and agree that the Warrant
      is part of an investment unit within the meaning of Section 1273(c)(2) of
      the Internal Revenue Code of 1986, as amended, which includes the
      Convertible Preferred Shares. Notwithstanding anything to the contrary
      contained herein, the Company and the Holder hereby further acknowledge
      and agree that for purposes of United States federal, state and local
      income tax and United States generally accepted accounting principles (if
      applicable), the "issue price" of the Warrant and the Convertible
      Preferred Shares to be issued thereunder shall be the amount agreed by the
      Company and the Holder within 60 days following the date when the Warrant
      first becomes exercisable. The Company and the Holder agree to use the
      foregoing issue prices for all the foregoing purposes with respect to this
      transaction.

9.    NOTICE GENERALLY

      Any notice, demand, request, consent, approval, declaration, delivery or
      communication hereunder to be made pursuant to the provisions of this
      Warrant shall be sufficiently given or made if in writing and shall be
      deemed to have been validly served, given or delivered (a) when sent after
      receipt of confirmation or answer back if sent by telex or telecopy or
      other similar facsimile transmission, (b) two (2) business days after
      deposit with a reputable international two (2) day courier with all
      charges prepaid or (c) when delivered if hand-delivered by messenger, all
      of which shall be properly addressed to the party to be notified and sent
      to the address or number indicated, to the Holder, or the holder of
      Convertible Preferred Shares (or the Ordinary Shares issuable upon
      conversion thereof) at its last known address appearing on the books of
      the Company maintained for such purpose, and to the Company at:

                    R.T.S. Software Ltd.
                    Science Based Industries Campus
                    P.O. Box 23052
                    Jerusalem 91230, Israel

      or at such other address as may be submitted by notice given as herein
      provided. The giving of any notice required hereunder may be waived in
      writing by the party entitled to receive such notice.

10.   EFFECTIVENESS AND TERMINATION

      This Warrant and the rights conferred hereby shall become effective at the
      Effective Date and shall terminate at the Termination Date.

11.   LIMITATION ON TRANSFER

      This Warrant shall not be transferable in whole or in part to any third
      party other than to a permitted transferee pursuant to Section 2.3 of that
      certain
<PAGE>

                                      -8-

      Shareholders Agreement, dated June 1, 1999, by and among the Holder
      and certain other shareholders of the Company.

12.   GOVERNING LAW

      This Warrant shall be governed by, and construed in accordance with, the
      laws of the State of Israel, without giving effect to the rules respecting
      conflict of law, and the parties hereto irrevocably submit to the
      exclusive jurisdiction of the Courts of Israel in respect of any dispute
      or matter arising out of or connected with this Warrant.

     DATED:  June 1, 1999                     R.T.S. SOFTWARE LTD.

                                        By:       ________________
                                        Name:     ________________
                                        Title:    ________________

     Agreed to and accepted:

    By:

    Name:     _______________

    Title:    _______________

    Address:  _______________

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