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                                                                    EXHIBIT 10.1

                             PEREGRINE SYSTEMS, INC.

                             1994 STOCK OPTION PLAN

                       (AS AMENDED THROUGH APRIL 17, 2001
           AND APPLICABLE TO OPTIONS GRANTED ON OR AFTER SUCH DATE)(1)

         1.  PURPOSES OF THE PLAN. The purposes of this Stock Option Plan are to
attract and retain the best available personnel for positions of substantial
responsibility, to provide additional incentive to Employees, Directors and
Consultants of the Company and its Subsidiaries and to promote the success of
the Company's business. Options granted under the Plan may be incentive stock
options (as defined under Section 422 of the Code) or non-statutory stock
options, as determined by the Administrator at the time of grant of an option
and subject to the applicable provisions of Section 422 of the Code, as amended,
and the regulations promulgated thereunder.

         2.  DEFINITIONS. As used herein, the following definitions shall apply:

             (a)  "ADMINISTRATOR" means the Board or any of its Committees
appointed pursuant to Section 4 of the Plan.

             (b)  "APPLICABLE LAWS" means the requirements relating to the
administration of stock option plans under U.S. state corporate laws, U.S.
federal and state securities laws, the Code, any stock exchange or quotation
system on which the Common Stock is listed or quoted and the applicable laws of
any foreign country or jurisdiction where Options are, or will be, granted under
the Plan.

             (c)  "BOARD" means the Board of Directors of the Company.

             (d)  "CHANGE OF CONTROL" means the occurrence of any of the
following events:

                  (i)    Any "person" (as such term is used in Sections 13(d)
and 14(d) of the Exchange Act) becomes the "beneficial owner" (as defined in
Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the
Company representing fifty percent (50%) or more of the total voting power
represented by the Company's then outstanding voting securities; or

                  (ii)   The consummation of the sale or disposition by the
Company of all or substantially all the Company's assets; or

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(1) Options granted prior to April 17, 2001 shall be governed by the terms of
the Plan in effect prior to such date.

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                  (iii)  The consummation of a merger or consolidation of the
Company with any other corporation, other than a merger or consolidation which
would result in the voting securities of the Company outstanding immediately
prior thereto continuing to represent (either by remaining out-standing or by
being converted into voting securities of the surviving entity or its parent) at
least fifty percent (50%) of the total voting power represented by the voting
securities of the Company or such surviving entity or its parent outstanding
immediately after such merger or consolidation; or

                  (iv)   A change in the composition of the Board occurring
within a two-year period, as a result of which fewer than a majority of the
directors are Incumbent Directors. "Incumbent Directors" shall mean directors
who either (A) are directors of the Company as of the April 17, 2001 or (B) are
elected, or nominated for election, to the Board with the affirmative votes of
at least a majority of those directors whose election or nomination was not in
connection with any transaction described in subsections (i), (ii), or (iii)
above, or in connection with an actual or threatened proxy contest relating to
the election of directors to the Company.

             (e)  "CODE" means the Internal Revenue Code of 1986, as amended.

             (f)  "COMMITTEE" means a Committee appointed by the Board of
Directors in accordance with Section 4 of the Plan.

             (g)  "COMMON STOCK" means the Common Stock of the Company.

             (h)  "COMPANY" means Peregrine Systems, Inc., a Delaware
corporation.

             (i)  "CONSULTANT" means any person, including an advisor, who is
engaged by the Company or any Parent or Subsidiary to render services and is
compensated for such services.

             (j)  "CONTINUOUS STATUS AS AN EMPLOYEE OR CONSULTANT" means that
the employment or consulting relationship or directorship is not interrupted or
terminated by the Employee, Consultant or Director or the Company, or any Parent
or Subsidiary. Continuous Status as an Employee, Director, or Consultant shall
not be considered interrupted in the case of: (i) any leave of absence approved
by the Company, including sick leave, military leave, or any other personal
leave; provided, however, that for purposes of Incentive Stock Options, no such
leave may exceed ninety (90) days, unless reemployment upon the expiration of
such leave is guaranteed by contract (including certain Company policies) or
statute; provided, further, that on the ninety-first (91st) day of any such
leave (where reemployment is not guaranteed by contract or statute) the
Optionee's Incentive Stock Option shall cease to be treated as an Incentive
Stock Option and will be treated for tax purposes as a Nonstatutory Stock
Option; or (ii) transfers between locations of the Company or between the
Company, its Parent, its Subsidiaries or its successor.

             (k)  "DIRECTOR" shall mean a member of the Board.

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             (l)  "DISABILITY" means total and permanent disability as defined
in Section 22(e)(3) of the Code.

             (m)  "EMPLOYEE" means any person, including Officers and Directors,
employed by the Company or any Parent or Subsidiary of the Company. The payment
of a director's fee by the Company shall not be sufficient to constitute
"employment" by the Company.

             (n)  "EXCHANGE ACT" means the Securities Exchange Act of 1934, as
amended.

             (o)  "FAIR MARKET VALUE" means, as of any date, the value of Common
Stock determined as follows:

                  (i)    If the Common Stock is listed on any established stock
exchange or a national market system, including without limitation the National
Market System or the Nasdaq SmallCap Market of the Nasdaq Stock Market, its Fair
Market Value shall be the closing sales price for such stock (or the closing
bid, if no sales were reported, as quoted on such exchange or system for the
last market trading day prior to the time of determination) as reported in THE
WALL STREET JOURNAL or such other source as the Administrator deems reliable;

                  (ii)   If the Common Stock is regularly quoted by a recognized
securities dealer but selling prices are not reported, its Fair Market Value
shall be the mean between the high bid and low asked prices for the Common Stock
on the last market trading day prior to the day of determination, as reported in
THE WALL STREET JOURNAL or such other source as the Administrator deems reliable
or;

                  (iii)  In the absence of an established market for the Common
Stock, the Fair Market Value thereof shall be determined in good faith by the
Administrator.

             (p)  "INCENTIVE STOCK OPTION" means an Option intended to qualify
as an incentive stock option within the meaning of Section 422 of the Code.

             (q)  "NONSTATUTORY STOCK OPTION" means an Option not intended to
qualify as an Incentive Stock Option.

             (r)  "NOTICE OF GRANT" means a written notice evidencing certain
terms and conditions of an individual Option grant. The Notice of Grant is part
of the Option Agreement.

             (s)  "OFFICER" means a person who is an officer of the Company
within the meaning of Section 16 of the Exchange Act and the rules and
regulations promulgated thereunder.

             (t)  "OPTION" means a stock option granted pursuant to the Plan.

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             (u)  "OPTION AGREEMENT" means a written agreement between the
Company and an Optionee evidencing the terms and conditions of an individual
Option grant. The Option Agreement is subject to the terms and conditions of the
Plan.

             (v)  "OPTIONED STOCK" means the Common Stock subject to an Option.

             (w)  "OPTIONEE" means an Employee, Director, or Consultant who
receives an Option.

             (x)  "PARENT" means a "parent corporation", whether now or
hereafter existing, as defined in Section 424(e) of the Code.

             (y)  "PLAN" means this 1994 Stock Option Plan, as amended.

             (z)  "RULE 16b-3" means Rule 16b-3 of the Exchange Act or any
successor to Rule 16b-3, as in effect when discretion is being exercised with
respect to the Plan.

             (aa) "SERVICE PROVIDER" means an Employee, Officer, Consultant or
Director.

             (bb) "SHARE" means a share of the Common Stock, as adjusted in
accordance with Section 11 below.

             (cc) "SUBSIDIARY" means a "subsidiary corporation", whether now or
hereafter existing, as defined in Section 424(f) of the Code.

         3.  STOCK SUBJECT TO THE PLAN. Subject to the provisions of Section 11
of the Plan, the maximum aggregate number of Shares which may be optioned and
sold under the Plan is 24,592,000, plus an annual increase, effective January 1
of each calendar year beginning January 1, 1999 and ending January 1, 2003,
equal to such number of additional Shares of Common Stock as may then be
required to fix the number of Shares of Common Stock then available for new
Option grants at an amount not less than the lesser of (i) four percent (4%) of
the Company's then issued and outstanding Common Stock or (ii) 16,000,000
Shares. The Shares may be authorized, but unissued, or reacquired Common Stock.

         If an Option should expire or become unexercisable for any reason
without having been exercised in full, the unpurchased Shares which were subject
thereto shall, unless the Plan shall have been terminated, become available for
future grant under the Plan.

         4.  ADMINISTRATION OF THE PLAN.

             (a) PROCEDURE.

                  (i)    MULTIPLE ADMINISTRATIVE BODIES. The Plan may be
administered by different Committees with respect to different Optionees.

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                  (ii)   SECTION 162(m). To the extent that the Administrator
determines it to be desirable to qualify Options granted hereunder as
"performance-based compensation" within the meaning of Section 162(m) of the
Code, the Plan shall be administered by a Committee of two or more "outside
directors" within the meaning of Section 162(m) of the Code.

                  (iii)  RULE 16b-3. To the extent desirable to qualify
transactions hereunder as exempt under Rule 16b-3, the transactions contemplated
hereunder shall be structured to satisfy the requirements for exemption under
Rule 16b-3.

                  (iv)   OTHER ADMINISTRATION. Other than as provided above, the
Plan shall be administered by (A) the Board or (B) a Committee, which committee
shall be constituted to satisfy Applicable Laws.

             (b)  POWERS OF THE ADMINISTRATOR. Subject to the provisions of the
Plan and, in the case of a Committee, the specific duties delegated by the Board
to such Committee, and subject to the approval of any relevant authorities,
including the approval, if required, of any stock exchange upon which the Common
Stock is listed, the Administrator shall have the authority, in its discretion:

                  (i)    to determine the Fair Market Value of the Common Stock,
in accordance with Section 2(m) of the Plan;

                  (ii)   to select the Consultants, Directors, and Employees to
whom Options may from time to time be granted hereunder;

                  (iii)  to determine whether and to what extent Options are
granted hereunder;

                  (iv)   to modify or amend each Option, including the
discretionary authority to extend the post-termination exercisability period of
Options longer than is otherwise provided for in the Plan;

                  (v)    to approve forms of agreement for use under the Plan;

                  (vi)   to determine the terms and conditions, not inconsistent
with the terms of the Plan, of any award granted hereunder. Such terms and
conditions include, but are not limited to, the exercise price, the time or
times when Options may be exercised (which may be based on performance
criteria), any vesting acceleration or waiver of forfeiture restrictions, and
any restriction or limitation regarding any Option of the shares of Common Stock
relating thereto, based in each case on such factors as the Administrator, in
its sole discretion, shall determine;

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                  (vii)  to determine whether and under what circumstances an
Option may be settled in cash under Section 9 instead of Common Stock;

                  (viii) to reduce the exercise price of any Option to the then
current Fair Market Value if the Fair Market Value of the Common Stock covered
by such Option has declined since the date the Option was granted;

                  (ix)   to allow Optionees to satisfy withholding tax
obligations by electing to have the Company withhold from the Shares to be
issued upon exercise of an Option that number of Shares having a Fair Market
Value equal to the amount required to be withheld. The Fair Market Value of the
Shares to be withheld shall be determined on the date that the amount of tax to
be withheld is to be determined. All elections by an Optionee to have Shares
withheld for this purpose shall be made in such form and under such conditions
as the Administrator may deem necessary or advisable;

                  (x) to construe and interpret the terms of the Plan and awards
granted pursuant to the Plan; and

                  (xi)   to prescribe, amend, and rescind rules and regulations
relating to the Plan, including rules and regulations relating to subplans
established for the purpose of qualifying for preferred tax treatment under
foreign tax laws.

             (c)  EFFECT OF ADMINISTRATOR'S DECISION. All decisions,
determinations, and interpretations of the Administrator shall be final and
binding on all Optionees and any other holders of any Options.

         5.  ELIGIBILITY.

             (a)  Nonstatutory Stock Options may be granted to Employees,
Directors, and Consultants. Incentive Stock Options may be granted only to
Employees. An Employee, Director, or Consultant who has been granted an Option
may, if otherwise eligible, be granted additional Options.

             (b)  Each Option shall be designated in the written option
agreement as either an Incentive Stock Option or a Nonstatutory Stock Option.
However, notwithstanding such designations, to the extent that the aggregate
Fair Market Value of the Shares underlying Incentive Stock Options are
exercisable for the first time by any Optionee during any calendar year (under
all plans of the Company or any Parent or Subsidiary) in excess of $100,000,
such excess shall be treated as Nonstatutory Stock Options.

             (c)  For purposes of Section 5(b), Incentive Stock Options shall be
taken into account in the order in which they were granted, and the Fair Market
Value of the Shares shall be determined as of the time the Option with respect
to such Shares is granted.

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             (d)  The Plan shall not confer upon any Optionee any right with
respect to continuation of employment or consulting relationship with the
Company or service as a Director, nor shall it interfere in any way with his or
her right or the Company's right to terminate his or her employment, service as
a Director or consulting relationship at any time, with or without cause.

             (e)  LIMITATIONS.

                  (i)    No Employee shall be granted, in any fiscal year of the
Company, Options to purchase more than 900,000 Shares.

                  (ii)   The foregoing limitation shall be adjusted
proportionately in connection with any change in the Company's capitalization as
described in Section 11(a).

                  (iii)  If an Option is canceled (other than in connection with
a transaction described in Section 11), the canceled Option will be counted
against the limit set forth in Section 5(e)(i). For this purpose, if the
exercise price of an Option is reduced, the transaction will be treated as a
cancellation of the Option and the grant of a new Option.

         6.  TERM OF PLAN. The Plan became effective upon its adoption by the
Board of Directors. It shall continue in effect for a term of ten (10) years
from such date, unless sooner terminated under Section 13 of the Plan.

         7.  TERM OF OPTION. The term of each Option shall be the term stated in
the Option Agreement; provided, however, that in the case of an Incentive Stock
Option the term shall be no more than ten (10) years from the date of grant
thereof. However, in the case of an Incentive Stock Option granted to an
Optionee who, at the time the Option is granted, owns stock representing more
than ten percent (10%) of the voting power of all classes of stock of the
Company or any Parent or Subsidiary, the term of the Option shall be five (5)
years from the date of grant thereof or such shorter term as may be provided in
the Option Agreement.

         8.  OPTION EXERCISE PRICE AND CONSIDERATION.

             (a)  The per share exercise price for the Shares to be issued
pursuant to exercise of an Option shall be such price as is determined by the
Board, but shall be subject to the following:

                  (i)    In the case of an Incentive Stock Option

                         (A) granted to an Employee who, at the time of the
grant of such Incentive Stock Option, owns stock representing more than ten
percent (10%) of the voting power of all classes of stock of the Company or any
Parent or Subsidiary, the per Share exercise price shall be no less than 110% of
the Fair Market Value per Share on the date of grant.

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                         (B) granted to any Employee other than an Employee
described in the preceding paragraph, the per Share exercise price shall be no
less than 100% of the Fair Market Value per Share on the date of grant.

                  (ii)   In the case of a Nonstatutory Stock Option, the per
Share exercise price shall be determined by the Administrator. However, in the
case of a Nonstatutory Stock Option intended to qualify as "performance-based
compensation" within the meaning of Section 162(m) of the Code, the per Share
exercise price shall be no less than 100% of the Fair Market Value per Share on
the date of grant.

                  (iii)  Notwithstanding the foregoing, Options may be granted
with a per Share exercise price of less than 100% of the Fair Market Value per
Share on the date of grant pursuant to a merger or other corporate transaction.

             (b)  The consideration to be paid for the Shares to be issued upon
exercise of an Option, including the method of payment, shall be determined by
the Administrator (and, in the case of an Incentive Stock Option, shall be
determined at the time of grant) and may consist entirely of (1) cash, (2)
check, (3) promissory note, (4) other Shares which (x) in the case of Shares
acquired upon exercise of an Option have been owned by the Optionee for more
than six months on the date of surrender and (y) have a Fair Market Value on the
date of surrender equal to the aggregate exercise price of the Shares as to
which said Option shall be exercised, (5) consideration received by the Company
under a cashless exercise program implemented by the Company in connection with
the Plan; (6) such other consideration and method of payment for the issuance of
Shares to the extent permitted by Applicable Laws, or (7) any combination of the
foregoing methods of payment. In making its determination as to the type of
consideration to accept, the Board shall consider if acceptance of such
consideration may be reasonably expected to benefit the Company.

         9.  EXERCISE OF OPTION.

             (a)  PROCEDURE FOR EXERCISE; RIGHTS AS A SHAREHOLDER. Any Option
granted hereunder shall be exercisable at such times and under such conditions
as determined by the Board, including performance criteria with respect to the
Company and/or the Optionee, and as shall be permissible under the terms of the
Plan. All Options granted hereunder shall be exercisable at the rate of at least
20% per year over five years from the date the Option is granted. An Option may
not be exercised for a fraction of a Share.

                  An Option shall be deemed to be exercised when written notice
of such exercise has been given to the Company in accordance with the terms of
the Option by the person entitled to exercise the Option and full payment for
the Shares with respect to which the Option is exercised has been received by
the Company. Full payment may, as authorized by the Board, consist of any
consideration and method of payment allowable under the Plan. Until the issuance
(as evidenced by the appropriate entry on the books of the Company or of a duly
authorized

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transfer agent of the Company) of such Shares, no right to vote or receive
dividends or any other rights as a shareholder shall exist with respect to the
Optioned Stock, notwithstanding the exercise of the Option. The Company shall
issue (or cause to be issued) such Shares promptly upon exercise of the Option.
No adjustment will be made for a dividend or other right for which the record
date is prior to the date the Shares are issued, except as provided in Section
11 of the Plan.

                  Exercise of an Option in any manner shall result in a decrease
in the number of Shares which thereafter may be available, both for purposes of
the Plan and for sale under the Option, by the number of Shares as to which the
Option is exercised.

             (b)  TERMINATION OF CONTINUOUS STATUS AS AN EMPLOYEE, DIRECTOR, OR
CONSULTANT. In the event that an Optionee's Continuous Status as an Employee,
Director, or Consultant terminates (but not in the event of a change of status
from Employee to Consultant (in which case an Employee's Incentive Stock Option
shall automatically convert to a Nonstatutory Stock Option on the ninety-first
(91st) day following such change of status) or from Consultant to Employee)
other than upon the Optionee's death or disability, the Optionee may exercise
his or her Option, within 90 days of the date of termination, and only to the
extent that the Optionee was entitled to exercise it at the date of termination
(but in no event later than the expiration of the term of such Option as set
forth in the Notice of Grant); provided, however, that (i) the Administrator may
in its discretion extend the period of exercisability of the Option beyond a
termination of an Optionee's Continuous Status as an Employee, Director, or
Consultant until a date not later than the expiration of the term of such Option
as set forth in the Notice of Grant and (ii) the Administrator may in its
discretion extend the termination date for the purpose of vesting accrual to a
date beyond the actual termination date of employment (the "deemed termination
date") (but in no event may the deemed termination date be later than the
expiration of the term of such Option as set forth in the Notice of Grant). In
the event the Administrator shall exercise such discretion to extend the term of
an Option, such Option shall be exercisable during such extended term to the
extent it was exercisable at the date of such termination or the deemed
termination date, as applicable. Similarly, in the event the Administrator shall
exercise such discretion to extend the termination date of an Optionee, such
Option shall be exercisable during such term (or such extended term if
applicable) to the extent it would be exercisable at the deemed termination
date. If at the date of termination the Optionee is not entitled to exercise his
or her entire Option, the Shares covered by the unexercisable portion of the
Option shall revert to the Plan. If after termination the Optionee does not
exercise his or her Option within the time specified by the Administrator, the
Option shall terminate, and the Shares covered by such Option shall revert to
the Plan.

             (c)  DISABILITY OF OPTIONEE. In the event of termination of an
Optionee's Continuous Status as an Employee, Director, or Consultant as a result
of his or her Disability, Optionee may, but only within six (6) months from the
date of such termination (and in no event later than the expiration date of the
term of such Option as set forth in the Option Agreement),

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exercise the Option to the extent otherwise entitled to exercise it at the date
of such termination. To the extent that Optionee is not entitled to exercise the
Option at the date of termination, or if Optionee does not exercise such Option
to the extent so entitled within the time specified herein, the Option shall
terminate, and the Shares covered by such Option shall revert to the Plan.

             (d)  DEATH OF OPTIONEE. In the event of the death of an Optionee,
the Option shall vest and become exercisable as to all of the Shares subject
thereto and may be exercised within such period of time as is specified in the
Option Agreement (but in no event later than the expiration of the term of such
Option as set forth in the Notice of Grant), by the Optionee's estate or by a
person who acquires the right to exercise the Option by bequest or inheritance.
In the absence of a specified time in the Option Agreement, the Option shall
remain exercisable for twelve (12) months following the Optionee's termination.
The Option may be exercised by the executor or administrator of the Optionee's
estate or, if none, by the person(s) entitled to exercise the Option under the
Optionnee's will or the laws of descent or distribution. If the Option is not so
exercised with the specified time, the Option shall terminate, and the Shares
covered by such Option shall revert to the Plan.

             (e)  BUYOUT PROVISIONS. The Administrator may at any time offer to
buy out for a payment in cash or Shares, an Option previously granted, based on
such terms and conditions as the Administrator shall establish and communicate
to the Optionee at the time that such offer is made.

         10. NON-TRANSFERABILITY OF OPTIONS. Unless determined otherwise, by the
Administrator, Options may not be sold, pledged, assigned, hypothecated,
transferred, or disposed of in any manner other than by will or by the laws of
descent or distribution and may be exercised, during the lifetime of the
Optionee, only by the Optionee. If the Administrator makes an Option
transferable, such Option shall contain such additional terms and conditions as
the Administrator deems appropriate.

         11. ADJUSTMENTS UPON CHANGES IN CAPITALIZATION OR MERGER.

             (a) CHANGES IN CAPITALIZATION. Subject to any required action by
the shareholders of the Company, the number of shares of Common Stock covered by
each outstanding Option, and the number of shares of Common Stock which have
been authorized for issuance under the Plan but as to which no Options have yet
been granted or which have been returned to the Plan upon cancellation or
expiration of an Option, as well as the price per share of Common Stock covered
by each such outstanding Option, shall be proportionately adjusted for any
increase or decrease in the number of issued shares of Common Stock resulting
from a stock split, reverse stock split, stock dividend, combination or
reclassification of the Common Stock, or any other increase or decrease in the
number of issued shares of Common Stock effected without receipt of
consideration by the Company; provided, however, that conversion of any
convertible securities of the Company shall not be deemed to have been "effected
without receipt

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of consideration." Such adjustment shall be made by the Board, whose
determination in that respect shall be final, binding, and conclusive. Except as
expressly provided herein, no issuance by the Company of shares of stock of any
class, or securities convertible into shares of stock of any class, shall
affect, and no adjustment by reason thereof shall be made with respect to, the
number or price of shares of Common Stock subject to an Option.

             (b)  DISSOLUTION OR LIQUIDATION. In the event of the proposed
dissolution or liquidation of the Company, the Board shall notify the Optionee
at least fifteen (15) days prior to such proposed action. To the extent it has
not been previously exercised, the Option will terminate immediately prior to
the consummation of such proposed action.

             (c)  MERGER OR ASSET SALE. In the event of a merger of the Company
with or into another corporation, or the sale of substantially all of the assets
of the Company, each outstanding Option shall be assumed or an equivalent option
substituted by the successor corporation or a Parent or Subsidiary of the
successor corporation. In the event that the successor corporation refuses to
assume or substitute for the Option, the Optionee shall fully vest in and have
the right to exercise the Option as to all of the Optioned Stock, including
Shares as to which it would not otherwise be vested or exercisable. If an Option
is not assumed or substituted (and already was exercisable or becomes fully
vested and exercisable in lieu of assumption or substitution), the Administrator
shall notify the Optionee in writing or electronically that the Option shall be
fully vested and exercisable for a period of fifteen (15) days from the date of
such notice, and the Option shall terminate upon the expiration of such period.
For the purposes of this paragraph, the Option shall be considered assumed if,
following the merger or sale of assets, the option or right confers the right to
purchase or receive, for each Share of Optioned Stock subject to the Option
immediately prior to the merger or sale of assets, the consideration (whether
stock, cash, or other securities or property) received in the merger or sale of
assets by holders of Common Stock for each Share held on the effective date of
the transaction (and if holders were offered a choice of consideration, the type
of consideration chosen by the holders of a majority of the outstanding Shares);
provided, however, that if such consideration received in the merger or sale of
assets is not solely common stock of the successor corporation or its Parent,
the Administrator may, with the consent of the successor corporation, provide
for the consideration to be received upon the exercise of the Option, for each
Share of Optioned Stock subject to the Option, to be solely common stock of the
successor corporation or its Parent equal in fair market value to the per share
consideration received by holders of Common Stock in the merger or sale of
assets.

         12. TIME OF GRANTING OPTIONS. The date of grant of an Option shall, for
all purposes, be the date on which the Administrator makes the determination
granting such Option, or such other date as is determined by the Board. Notice
of the determination shall be given to each Employee or Consultant to whom an
Option is so granted within a reasonable time after the date of such grant.

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         13. AMENDMENT AND TERMINATION OF THE PLAN.

             (a)  AMENDMENT AND TERMINATION. The Board may at any time amend,
alter, suspend, or discontinue the Plan, but no amendment, alteration,
suspension, or discontinuation shall be made which would impair the rights of
any Optionee under any grant theretofore made, without his or her consent. In
addition, to the extent necessary and desirable to comply with Applicable Laws,
the Company shall obtain shareholder approval of any Plan amendment in such a
manner and to such a degree as required.

             (b)  EFFECT OF AMENDMENT OR TERMINATION. Any such amendment or
termination of the Plan shall not affect Options already granted, and such
Options shall remain in full force and effect as if this Plan had not been
amended or terminated, unless mutually agreed otherwise between the Optionee and
the Board, which agreement must be in writing and signed by the Optionee and the
Company. Termination of the Plan shall not affect the Administrator's ability to
exercise the powers granted to it hereunder with respect to Options granted
under the Plan prior to the date of such termination.

         14. CONDITIONS UPON ISSUANCE OF SHARES. Shares shall not be issued
pursuant to the exercise of an Option unless the exercise of such Option and the
issuance and delivery of such Shares pursuant thereto shall comply with
Applicable Laws and shall be further subject to the approval of counsel for the
Company with respect to such compliance.

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

         15. RESERVATION OF SHARES. The Company, during the term of this Plan,
will at all times reserve and keep available such number of Shares as shall be
sufficient to satisfy the requirements of the Plan.

             The inability of the Company to obtain authority from any
regulatory body having jurisdiction, which authority is deemed by the Company's
counsel to be necessary to the lawful issuance and sale of any Shares hereunder,
shall relieve the Company of any liability in respect of the failure to issue or
sell such Shares as to which such requisite authority shall not have been
obtained.

         16. AGREEMENTS. Options shall be evidenced by written agreements in
such form as the Board shall approve from time to time.

         17. STOCKHOLDER APPROVAL. Continuance of the Plan shall be subject to
approval by the stockholders of the Company within twelve (12) months before or
after the date the Plan is adopted. Such stockholder approval shall be obtained
in the degree and manner required under Applicable Laws.

                                                                   Page 12 of 12

<Page>

                             PEREGRINE SYSTEMS, INC.

                                 1994 STOCK PLAN

                             STOCK OPTION AGREEMENT

         Unless otherwise defined herein, the terms defined in the Plan shall
have the same defined meanings in this Option Agreement.

I.       NOTICE OF STOCK OPTION GRANT

         [OPTIONEE'S NAME]

         You have been granted an option to purchase Common Stock of the
Company, subject to the terms and conditions of the Plan and this Option
Agreement, as follows:

        Date of Grant:

        Vesting Commencement Date:

        Exercise Price per Share:

        Total Number of Shares Granted:

        Type of Option:

        Term/Expiration Date:

VESTING SCHEDULE:

         25% of the total number of Shares subject to the Option shall vest
twelve months after the Vesting Commencement Date, and 6.25% of the total number
of Shares subject to the Option shall vest each quarter thereafter, provided
that Shares actually will vest on any such date only if the Optionee is a
Service Provider on such date.

         Notwithstanding the preceding, all of the Shares subject to the Option
shall vest on the date the Optionee ceases to be a Service Provider if (and only
if) the cessation as a Service Provider (1) occurs within 12 months after a
Change of Control, and (2) either was by action (a) of the Company for a reason
other than Cause, or (b) of the Employee for Good Reason.

         For purposes of the preceding paragraph, Cause means (i) any act of
personal dishonesty taken in connection with the Optionee's responsibilities as
a Service Provider that is intended to result in his or her substantial personal
enrichment, (ii) the Optionee's conviction or plea of no contest to a crime that
will have a detrimental effect on the Company's reputation or business, (iii)
willful misconduct by the Optionee that is

                                                                     Page 1 of 5

<Page>

injurious to the Company, or (iv) the Optionee's continued violation of his or
her obligations to the Company after the Optionee has been delivered written
notice of the violation and given a reasonable opportunity to cure. Good Reason
means, without the Optionee's written consent (i) a material reduction in the
Optionee's duties and/or status at the Company, (ii) the Optionee's principal
work location being moved more than 30 miles, (iii) the Company reducing the
Optionee's base salary below his or her salary immediately before the Change of
Control, or (iv) the Company reducing the Optionee's bonus opportunity below his
or her bonus opportunity immediately before the Change of Control.

TERMINATION PERIOD:

         This Option may be exercised for 90 days after termination of
Optionee's Continuous Status as an Employee or Consultant, or such longer period
as may be applicable upon death or disability of Optionee as provided in the
Plan, but in no event later than the Term/Expiration Date as provided above.

II.  AGREEMENT

         1. GRANT OF OPTION. Peregrine Systems, Inc., a Delaware corporation
(the "Company"), hereby grants to the individual named in the Notice of Stock
Option Grant (the "Notice of Grant"), hereafter the Optionee, an option (the
"Option") to purchase the total number of shares of Common Stock (the "Shares")
set forth in the Notice of Grant, at the exercise price per share set forth in
the Notice of Grant (the "Exercise Price") subject to the terms, definitions,
and provisions of the 1994 Stock Option Plan (the "Plan") adopted by the
Company, which is incorporated herein by reference. Unless otherwise defined
herein, the terms defined in the Plan shall have the same defined meanings in
this Option.

         If designated in the Notice of Grant as an Incentive Stock Option
("ISO"), this Option is intended to qualify as an Incentive Stock Option as
defined in Section 422 of the Code. However, if this Option is intended to be an
Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code
Section 422(d), it shall be treated as a Nonstatutory Stock Option ("NSO").

         2.   EXERCISE OF OPTION.

              (a) RIGHT TO EXERCISE. This Option shall be exercisable during its
term in accordance with the Vesting Schedule set out in the Notice of Grant and
with the provisions of Section 9 of the Plan. This Option may not be exercised
for a fraction of a share.

              (b) METHOD OF EXERCISE. This Option shall be exercisable by notice
(in a form and manner satisfactory to the Company) which shall state the
election to exercise the Option, the number of Shares in respect of which the
Option is being exercised, and such other representations and agreements as to
the holder's investment intent with respect to

                                                                     Page 2 of 5

<Page>

such shares of Common Stock as may be required by the Company pursuant to the
provisions of the Plan. This Option shall be deemed to be exercised upon receipt
by the Company of such notice accompanied by the Exercise Price.

              No Shares will be issued pursuant to the exercise of an Option
unless such issuance and such exercise shall comply with Applicable Laws.
Assuming such compliance, for income tax purposes the Shares shall be considered
transferred to the Optionee on the date on which the Option is exercised with
respect to such Shares.

         3. METHOD OF PAYMENT. Payment of the Exercise Price shall be by any of
the following, or a combination thereof, at the election of the Optionee:

              (i)   cash; or

              (ii)  check; or

              (iii) surrender of other shares of Common Stock of the Company
which (A) in the case of Shares acquired pursuant to the exercise of a Company
option, have been owned by the Optionee for more than six (6) months on the date
of surrender, and (B) have a Fair Market Value on the date of surrender equal to
the Exercise Price of the Shares as to which the Option is being exercised; or

              (iv)  consideration received by the Company under a cashless
exercise program implemented by the Company in connection with the Plan.

         4. RESTRICTIONS ON EXERCISE. This Option may not be exercised until
such time as the Plan has been approved by the shareholders of the Company, or
if the issuance of such Shares upon such exercise or the method of payment of
consideration for such Shares would constitute a violation of Applicable Laws.
As a condition to the exercise of this Option, the Company may require Optionee
to make any representation and warranty to the Company as may be required by any
applicable law or regulation.

         5. NON-TRANSFERABILITY OF OPTION. This Option may not be transferred in
any manner otherwise than by will or by the laws of descent or distribution and
may be exercised during the lifetime of Optionee only by him. The terms of this
Option shall be binding upon the executors, administrators, heirs, successors,
and assigns of the Optionee.

         6. TERM OF OPTION. This Option may be exercised only within the term
set out in the Notice of Grant, and may be exercised during such term only in
accordance with the Plan and the terms of this Option Agreement.

         7. TAX CONSEQUENCES. Set forth below is a brief summary as of the date
of this Option of some of the federal and local tax consequences of exercise of
this Option and disposition of the Shares. THIS SUMMARY IS NECESSARILY
INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE.

                                                                     Page 3 of 5

<Page>

OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING
OF THE SHARES.

              (i)   EXERCISE OF ISO. If this Option qualifies as an ISO, there
will be no regular federal income tax liability or local income tax liability
upon the exercise of the Option, although the excess, if any, of the Fair Market
Value of the Shares on the date of exercise over the Exercise Price will be
treated as an adjustment to the alternative minimum tax for federal tax purposes
and may subject the Optionee to the alternative minimum tax in the year of
exercise.

              (ii)  EXERCISE OF NONSTATUTORY STOCK OPTION. There may be a
regular federal income tax liability and local income tax liability upon the
exercise of a Nonstatutory Stock Option. The Optionee will be treated as having
received compensation income (taxable at ordinary income tax rates) equal to the
excess, if any, of the Fair Market Value of the Shares on the date of exercise
over the Exercise Price. If Optionee is an Employee, the Company will be
required to withhold from Optionee's compensation or collect from Optionee and
pay to the applicable taxing authorities an amount equal to a percentage of this
compensation income at the time of exercise.

              (iii) DISPOSITION OF SHARES. In the case of an NSO, if Shares are
held for at least one year, any gain realized on disposition of the Shares will
be treated as long-term capital gain for federal and local income tax purposes.
In the case of an ISO, if Shares transferred pursuant to the Option are held for
at least one year after exercise and are disposed of at least two years after
the Date of Grant, any gain realized on disposition of the Shares will also be
treated as long-term capital gain for federal and local income tax purposes. If
Shares purchased under an ISO are disposed of within such one-year period or
within two years after the Date of Grant, any gain realized on such disposition
will be treated as compensation income (taxable at ordinary income rates) to the
extent of the difference between the Exercise Price and the lesser of (1) the
Fair Market Value of the Shares on the date of exercise, or (2) the sale price
of the Shares.

              (iv)  NOTICE OF DISQUALIFYING DISPOSITION OF ISO SHARES. If the
Option granted to Optionee herein is an ISO, and if Optionee sells or otherwise
disposes of any of the Shares acquired pursuant to the ISO on or before the
later of (1) the date two years after the Date of Grant, or (2) the date one
year after the date of exercise, the Optionee shall immediately notify the
Company in writing of such disposition. Optionee agrees that Optionee may be
subject to income tax withholding by the Company on the compensation income
recognized by the Optionee.

         OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO
THE OPTION HEREOF IS EARNED ONLY BY CONTINUING CONSULTANCY OR EMPLOYMENT AT THE
WILL OF THE COMPANY (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS
OPTION OR ACQUIRING SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES
THAT NOTHING IN THIS NOTICE, OR THE STOCK OPTION AGREEMENT, NOR IN THE COMPANY'S

                                                                     Page 4 of 5

<Page>

STOCK OPTION PLAN WHICH IS INCORPORATED HEREIN BY REFERENCE, SHALL CONFER UPON
OPTIONEE ANY RIGHT WITH RESPECT TO CONTINUATION OF EMPLOYMENT OR CONSULTANCY BY
THE COMPANY, NOR SHALL IT INTERFERE IN ANY WAY WITH OPTIONEE'S RIGHT OR THE
COMPANY'S RIGHT TO TERMINATE OPTIONEE'S EMPLOYMENT OR CONSULTANCY AT ANY TIME,
WITH OR WITHOUT CAUSE.

         Optionee acknowledges receipt of a copy of the Stock Option Agreement
and Plan and represents that he or she is familiar with the terms and provisions
thereof, and hereby accepts this Option subject to all of the terms and
provisions thereof. Optionee has reviewed the Plan and this Option in their
entirety, has had an opportunity to obtain the advice of counsel prior to
executing this Option and fully understands all provisions of the Option.
Optionee hereby agrees to accept as binding, conclusive and final all decisions
or interpretations of the Administrator upon any questions arising under the
Plan or this Option. Optionee further agrees to notify the Company upon any
change in the residence address indicated below.

OPTIONEE                                        PEREGRINE SYSTEMS, INC.
                                                a Delaware corporation

--------------------------------
Print Name of Optionee

                                                /s/ Stephen P. Gardner
--------------------------------                --------------------------------
Signature of Optionee                           Stephen P. Gardner
                                                Chief Executive Officer

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

--------------------------------
Residential Address

                                                                     Page 5 of 5<Page>

                                                                    EXHIBIT 10.2

                             PEREGRINE SYSTEMS, INC.

                   2000 STOCK OPTION PLAN FOR FRENCH EMPLOYEES
               (AS AMENDED AND RESTATED THROUGH APRIL 17, 2001 AND
             APPLICABLE TO OPTIONS GRANTED ON OR AFTER SUCH DATE)(1)

         1.   PURPOSES OF THE PLAN. The purposes of this 2000 Stock Option Plan
for French Employees are:

              o   to attract and retain the best available personnel in France
                  for positions of substantial responsibility,

              o   to provide additional incentive to French Employees, and

              o   to promote the success of the Company's business and the
                  business of its French subsidiary.

         This Plan is a sub-plan created under and pursuant to the Peregrine
Systems, Inc. 1994 Stock Option Plan, which has been approved by the
stockholders of Peregrine Systems, Inc., and which provides that French
employees may benefit under this Plan. Options shall be granted under the Plan
at the discretion of the Administrator and as reflected in terms of written
option agreements, and are intended to qualify for preferred treatment under
French tax laws. Unless otherwise defined herein, the terms defined in the U.S.
Plan shall have the same defined meanings in this Plan.

         2.   DEFINITIONS. As used herein, the following definitions shall
apply:

              (a) "APPLICABLE LAWS" means the legal requirements relating to the
administration of stock option plans under French corporate, securities, and tax
laws.

              (b) "DISABILITY" means total and permanent disability, as defined
under Applicable Laws.

              (c) "EMPLOYEE" means any person employed by the Company or any
Parent or Subsidiary of the Company, (i) who does not own more than 10% of the
voting power of all classes of stock of the Company, or any Parent or
Subsidiary, and (ii) who is a resident of the Republic of France.

---------------------------
(1) Options granted prior to April 17, 2001 shall be governed by the terms of
the Plan and U.S. Plan in effect prior to such date.

                                       1

<Page>

              (d) "FAIR MARKET VALUE" means, as of any date, the dollar value of
Common Stock determined as follows:

                  (i)    With respect to Options over newly issued Shares:

                         (1) If the Common Stock is listed on any established
stock exchange or a national market system, including without limitation the
Nasdaq National Market of the Nasdaq Stock Market, its Fair Market Value shall
be the average of the closing quotation price for the last 20 days preceding the
date of determination for such stock (or the average closing bid for such 20 day
period, if no sales were reported) as quoted on such exchange or system and
reported in THE WALL STREET JOURNAL or such other source as the Administrator
deems reliable;

                         (2) If the Common Stock is quoted on the Nasdaq Stock
Market (but not on the Nasdaq National Market thereof) or regularly quoted by a
recognized securities dealer but selling prices are not reported, its Fair
Market Value shall be the mean between the high bid and low asked prices for the
Common Stock for the last 20 days preceding the date of determination for such
stock.

                  (ii)   With respect to Options over reacquired Shares:

                         (1) If the Common Stock is listed on any established
stock exchange or a national market system, including without limitation the
Nasdaq National Market of the Nasdaq Stock Market, its Fair Market value shall
be the higher of (a) the average of the closing quotation price for the last 20
days preceding the date of determination of such stock (or the average closing
bid for such 20 day period if no sales were reported) as quoted on such exchange
or system and reported in the Wall Street Journal or such other as the
Administrator deems reliable OR (b) the average purchase price paid by the
Company for such Common Stock;

                         (2) If Common Stock is regularly quoted by a recognized
securities dealer but selling prices are not reported, its Fair Market Value
shall be the higher of (a) the mean between the high bid and low asking prices
for the Common Stock for the last 20 days preceding the date of determination
for such stock OR (b) the average purchase price paid by the Company for such
Common Stock.

                  (iii)  In the absence of an established market for the Common
Stock, the Fair Market Value thereof shall be determined in good faith by the
Administrator.

              (e) "INITIAL EXERCISE DATE" means the date on which a portion of
an Option first becomes exercisable. The Initial Exercise Date shall be
specified in the Option Agreement.

              (f) "OPTION" means a stock option granted pursuant to the Plan
which is intended to qualify for preferred treatment under applicable French tax
laws.

              (g) "OPTION AGREEMENT" means a written agreement between the
Company and an Optionee evidencing the terms and conditions of an individual
Option grant. The Option Agreement is subject to the terms and conditions of the
Plan.

                                      -2-

<Page>

              (h) "OPTION PRICE" means the per share price for exercising an
Option, determined in accordance with subsection 9(a) of the Plan.

              (i) "OPTIONED STOCK" means the Common Stock subject to an Option.

              (j) "OPTIONEE" means a person eligible to participate in the Plan
pursuant to Section 5 and who holds an outstanding Option.

              (k) "PLAN" means this Peregrine Systems, Inc. 2000 Stock Option
Plan for French Employees.

              (l) "SALE DATE" means the date on which Shares acquired through
the exercise of an Option may be transferred, assigned, hypothecated or sold by
Optionee in any manner other than by will or by the laws of descent or
distribution. The Sale Date shall be the applicable anniversary of the date of
grant as required by the holding period applicable to French qualified options
under French law on the date of grant according to Section 163 bis C of the
French tax code.

              (m) "SUBSIDIARY" means any participating subsidiary of the Company
located in the Republic of France.

              (n) "U.S. PLAN" means the Peregrine Systems, Inc. 1994 Stock
Option Plan.

         3.   STOCK SUBJECT TO THE PLAN. Subject to the provisions of Section 12
of the Plan, the maximum aggregate number of Shares that may be optioned and
sold under the Plan is that number of Shares of Common Stock which is currently
available for issuance under the U.S. Plan, and to the extent an option is
exercised under this Plan, the number of shares for which the option is
exercised shall be deducted from the reserve established under the U.S. Plan.
The Shares may be authorized, but unissued, or reacquired Common Stock. If any
Optioned Stock is to consist of reacquired Shares, such Optioned Stock must be
purchased by the Company prior to the date of grant of the corresponding Option
and must be reserved and set aside for such purpose.

              If an Option expires or becomes unexercisable without having
been exercised in full, the unpurchased Shares which were subject thereto shall
become available for future grant under the Plan (unless the Plan has
terminated).

         4.   ADMINISTRATION OF THE PLAN.

              (a) PROCEDURE. The Plan shall be administered by the Board or a
committee appointed by the Board.

              (b) POWERS OF THE ADMINISTRATOR. Subject to the provisions of the
Plan, and in the case of a Committee, subject to the specific duties delegated
by the Board to such Committee, the Administrator shall have the authority, in
its discretion:

                  (i)    to determine the Fair Market Value;

                  (ii)   to select the Employees to whom Options may be granted
                         hereunder;

                                      -3-
<Page>

                  (iii)  to determine whether and to what extent Options are
                         granted hereunder;

                  (iv)   to determine the number of shares of Common Stock to be
covered by each Option granted hereunder;

                  (v)    to approve forms of agreement for use under the Plan;

                  (vi)   to determine the terms and conditions, not inconsistent
with the terms of the Plan, of any award granted hereunder. Such terms and
conditions may include, but are not limited to, the exercise price, the time or
times when Options may be exercised (which may be based on performance
criteria), any vesting acceleration or waiver of forfeiture restrictions, and
any restriction or limitation regarding any Option or the shares of Common Stock
relating thereto, based in each case on such factors as the Administrator, in
its sole discretion, shall determine;

                  (vii)  to construe and interpret the terms of the Plan;

                  (viii) to prescribe, amend and rescind rules and regulations
relating to the Plan;

                  (ix)   to modify or amend each Option (subject to Section
13(c) of the Plan);

                  (x)    to authorize any person to execute on behalf of the
Company or Subsidiary any instrument required to effect the grant of an Option
previously granted by the Administrator;

                  (xi)   to determine the terms and restrictions applicable to
Options; and

                  (xii)  to make all other determinations deemed necessary or
advisable for administering the Plan.

              (c) EFFECT OF ADMINISTRATOR'S DECISION. The Administrator's
decisions, determinations and interpretations shall be final and binding on all
Optionees and any other holders of Options.

         5.   ELIGIBILITY. Options may be granted only to Employees and
corporate officers such as the PRESIDENT DIRECTEUR GENERAL, the DIRECTEUR
GENERAL and other directors who are also Employees of a Subsidiary. An
individual who has been granted an Option may, if otherwise eligible, be granted
additional Options.

         6.   LIMITATIONS. Neither the Plan nor any Option shall confer upon any
Optionee any right with respect to continuing the Optionee's employment
relationship with the Company.

         7.   TERM OF PLAN. The Plan shall become effective as of the date of
its adoption by the Board. It shall continue in effect until the earlier of (i)
the termination of the U.S. Plan or (ii) the date five (5) years from the date
of its adoption or the maximum length of time permitted for

                                      -4-
<Page>

favorable tax and social security treatment under Applicable Laws, unless
terminated earlier under Section 13 of the Plan.

         8.   TERM OF OPTION. The term of each Option shall be as stated in the
Option Agreement.

         9.   OPTION EXERCISE PRICE AND CONSIDERATION.

              (a) OPTION PRICE. The Option Price for the Shares to be issued
pursuant to exercise of an Option shall be determined by the Administrator upon
the date of grant of the Option and stated in the Option Agreement, but in no
event shall be lower than ninety-five percent (95%) of the Fair Market Value of
the Common Stock on the date the Option is granted. This Option Price cannot be
modified while the Option is outstanding.

              (b) VESTING PERIOD AND EXERCISE DATES. Options granted hereunder
may not be exercised prior to the Initial Exercise Date as specified in the
Option Agreement, whether or not the Option has vested prior to such time. At
the time an Option is granted, the Administrator shall fix the period within
which the Option shall vest, fix the period of time within which the Option may
be exercised and shall determine any conditions which must be satisfied before
the Option may be exercised. In so doing, the Administrator may specify that an
Option may not be exercised until the completion of a service period.

              (c) SALE RESTRICTION. Except in the event of Optionee's death as
set forth in Section 10(d) below, the Shares subject to this Option may not be
transferred, assigned, hypothecated or sold in any manner otherwise than by will
or by the laws of descent or distribution before the Sale Date, as specified in
the Option Agreement.

              (d) FORM OF CONSIDERATION. The Administrator shall determine the
acceptable form of consideration for exercising an Option, including the method
of payment. Such consideration may consist of:

                  (i)    cash or check (denominated in U.S. Dollars);

                  (ii)   wire transfer (denominated in U.S. Dollars);

                  (iii)  delivery of a properly executed exercise notice
together with such other documentation as the Administrator and a broker, if
applicable, shall require to effect an exercise of the Option and delivery to
the Company of an amount of the sale or loan proceeds required to pay the
exercise price ("cashless exercise"); PROVIDED, HOWEVER, payment by cashless
exercise shall not be available until the Sale Date;

                  (iv)   any combination of the foregoing methods of payment; or

                  (v)    such other consideration and method of payment for the
issuance of Shares to the extent permitted by Applicable Laws.

         10.  EXERCISE OF OPTION.

                                      -5-
<Page>

              (a) PROCEDURE FOR EXERCISE; RIGHTS AS A STOCKHOLDER. Any Option
granted hereunder shall be exercisable according to the terms of the Plan and at
such times and under such conditions as determined by the Administrator and set
forth in the Option Agreement. An Option may not be exercised for a fraction of
a Share. An Option shall be deemed exercised when:

                  (i)    the Company receives written notice of exercise (in
accordance with the Option Agreement and in a form acceptable to Company) from
the person entitled to exercise the Option, and full payment for the Shares with
respect to which the Option is exercised and all applicable taxes; and

                  Full payment may consist of any consideration and method of
payment authorized by the Administrator and permitted by the Option Agreement
and the Plan, and shall be deemed to be definitively made upon receipt of the
payment by the Subsidiary. Shares issued upon exercise of an Option shall be
issued in the name of the Optionee or, if requested by the Optionee, in the name
of the Optionee and his or her spouse.

                  Until the stock certificate evidencing such Shares is issued
(as evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company), no right to vote or receive dividends
or any other rights as a stockholder shall exist with respect to the Optioned
Stock, notwithstanding the exercise of the Option. The Company shall issue to
the Optionee (or cause to be issued) a stock certificate evidencing such Shares
promptly after the Option is exercised and after full payment, as indicated
above, is received by the Company. No adjustment will be made for a dividend or
other right for which the record date is prior to the date the stock certificate
is issued, except as provided in Section 12 of the Plan.

                  Exercising an Option in any manner shall decrease the number
of Shares thereafter available, both for purposes of the Plan and for sale under
the Option, by the number of Shares as to which the Option is exercised.

              (b) TERMINATION OF EMPLOYMENT RELATIONSHIP. In the event that an
Optionee's status as an Employee terminates (other than upon the Optionee's
death or Disability), the Optionee may exercise his or her Option, but only
within ninety (90) days from the date of such termination (or such other period
of time not exceeding ninety (90) days as is determined by the Administrator),
and only to the extent that the Optionee was entitled to exercise it at the date
of termination (but in no event later than the expiration of the term of such
Option as set forth in the Option Agreement). If, at the date of termination,
the Optionee has not vested in his or her entire Option, the Shares covered by
the unvested portion of the Option shall revert to the Plan. If, after
termination, the Optionee does not exercise his or her Option within the time
specified by the Administrator, the Option shall terminate, and the Shares
covered by such Option shall revert to the Plan.

              (c) DISABILITY OF OPTIONEE. In the event that an Optionee's status
as an Employee terminates as a result of the Optionee's Disability, the Optionee
may exercise his or her Option at any time within six (6) months from the date
of such termination (or such other period of time not exceeding six (6) months
as is determined by the Administrator), but only to the extent that the Optionee
was entitled to exercise it at the date of such termination (but in no event
later than the expiration of the term of such Option as set forth in the Option
Agreement). If, at the date of

                                      -6-
<Page>

termination, the Optionee has not vested in his or her entire Option, the Shares
covered by the unvested portion of the Option shall revert to the Plan. If,
after termination, the Optionee does not exercise his or her Option within the
time specified herein, the Option shall terminate, and the Shares covered by
such Option shall revert to the Plan.

              (d) DEATH OF OPTIONEE. In the event of the death of an Optionee
while an Employee, the Option shall become immediately vested and exercisable,
and the sale restriction provision set forth in Section 9(c) above ("Sale
Restriction") shall not apply to the Shares subject to the Option. The
Optionee's estate or a person who acquired the right to exercise the Option by
bequest or inheritance ("heir") may exercise the Option within six (6) months
following the date of Optionee's death. If Optionee dies after his or her status
as an Employee has terminated, but before the vested Option terminates, the Sale
Restriction shall not apply to the vested Options, and Optionee's heir may
exercise the vested Option within six (6) months following the date of
Optionee's death. If, after death, the Optionee's heir does not exercise the
Option within the time specified herein, the Option shall terminate, and the
Shares covered by such Option shall immediately revert to the Plan.

         11.  NON-TRANSFERABILITY OF OPTIONS. An Option may not be sold,
pledged, assigned, hypothecated, transferred, or disposed of in any manner other
than by will or by the laws of descent or distribution and may be exercised,
during the lifetime of the Optionee, only by the Optionee.

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

              (a) CHANGES IN CAPITALIZATION. Subject to any required action by
the stockholders of the Company, the number of shares of Common Stock which have
been authorized for issuance under the Plan but as to which no Options have yet
been granted or which have been returned to the Plan upon cancellation or
expiration of an Option and the number of shares of Common Stock covered by each
outstanding Option as well as the price per share of Common Stock covered by
each such outstanding Option, shall be proportionately adjusted for any increase
or decrease in the number of issued shares of Common Stock resulting from a
stock split, reverse stock split, stock dividend, combination or
reclassification of the Common Stock, or any other increase or decrease in the
number of issued shares of Common Stock effected without receipt of
consideration by the Company; PROVIDED, HOWEVER, that conversion of any
convertible securities of the Company shall not be deemed to have been "effected
without receipt of consideration"; provided further, that if any such adjustment
to the exercise price and the number of shares of Common Stock covered by
outstanding Options would violate Applicable Laws in such a way to jeopardize
the favorable tax and social security treatment of the Plan and the Options
granted thereunder, then no such adjustment shall be made prior to the exercise
of any such outstanding Option. Such adjustment shall be made by the Board,
whose determination in that respect shall be final, binding and conclusive.
Except as expressly provided herein, no issuance by the Company of shares of
stock of any class, or securities convertible into shares of stock of any class,
shall affect, and no adjustment by reason thereof shall be made with respect to,
the number or price of shares of Common Stock subject to an Option.

                                      -7-

<Page>

              (b) DISSOLUTION OR LIQUIDATION. In the event of the proposed
dissolution or liquidation of the Company, the Administrator shall notify the
Optionee at least fifteen (15) days prior to such proposed action. To the extent
it has not been previously exercised, the Option or Stock Purchase Right shall
terminate immediately prior to the consummation of such proposed action.

              (c) MERGER OR ASSET SALE. In the event of a merger of the Company
with or into another corporation, or the sale of substantially all of the assets
of the Company, each outstanding Option shall be assumed or an equivalent option
substituted by the successor corporation or a Parent or Subsidiary of the
successor corporation. In the event that the successor corporation refuses to
assume or substitute for the Option, the Optionee shall fully vest in and have
the right to exercise the Option as to all of the Optioned Stock, including
Shares as to which it would not otherwise be vested or exercisable. If an Option
is not assumed or substituted (and already was exercisable or becomes fully
vested and exercisable in lieu of assumption or substitution), the Administrator
shall notify the Optionee in writing or electronically that the Option shall be
fully vested and exercisable for a period of fifteen (15) days from the date of
such notice, and the Option shall terminate upon the expiration of such period.
For the purposes of this paragraph, the Option shall be considered assumed if,
following the merger or sale of assets, the option or right confers the right to
purchase or receive, for each Share of Optioned Stock subject to the Option
immediately prior to the merger or sale of assets, the consideration (whether
stock, cash, or other securities or property) received in the merger or sale of
assets by holders of Common Stock for each Share held on the effective date of
the transaction (and if holders were offered a choice of consideration, the type
of consideration chosen by the holders of a majority of the outstanding Shares);
provided, however, that if such consideration received in the merger or sale of
assets is not solely common stock of the successor corporation or its Parent,
the Administrator may, with the consent of the successor corporation, provide
for the consideration to be received upon the exercise of the Option, for each
Share of Optioned Stock subject to the Option, to be solely common stock of the
successor corporation or its Parent equal in fair market value to the per share
consideration received by holders of Common Stock in the merger or sale of
assets.

              (d) DATE OF GRANT. The date of grant of an Option shall be, for
all purposes, the date on which the Administrator makes the determination
granting such Option, or such other later date as is determined by the
Administrator. Notice of the determination shall be provided to each Optionee
within a reasonable time after the date of such grant.

         13.  AMENDMENT AND TERMINATION OF THE PLAN.

              (a) AMENDMENT AND TERMINATION. The Administrator may at any time
amend, alter, suspend or terminate the Plan.

              (b) STOCKHOLDER APPROVAL. The Company shall obtain stockholder
approval of any Plan amendment to the extent necessary and desirable to comply
with Applicable Laws. Such stockholder approval, if required, shall be obtained
in such a manner and to such a degree as is required by the Applicable Laws.

                                      -8-

<Page>

              (c) EFFECT OF AMENDMENT OR TERMINATION. No amendment, alteration,
suspension or termination of the Plan shall impair the rights of any Optionee,
unless mutually agreed otherwise between the Optionee and the Administrator,
which agreement must be in writing and signed by the Optionee and a
representative of the Administrator.

         14.  CLOSED PERIODS. Notwithstanding any provision in the U.S. Plan to
the contrary, no Option shall be granted pursuant to the Plan during any closed
period, as defined by applicable French law, to the extent such prohibitions
against grants during closed period are applicable to Company.

         15.  CONDITIONS UPON ISSUANCE OF SHARES.

              (a) LEGAL COMPLIANCE. Shares shall not be issued pursuant to the
exercise of an Option unless the exercise of such Option and the issuance and
delivery of such Shares shall comply with Applicable Laws, including, without
limitation, the requirements of any stock exchange or quotation system upon
which the Shares may then be listed or quoted, and shall be further subject to
the approval of counsel for the Company with respect to such compliance.

              (b) INVESTMENT REPRESENTATIONS. As a condition to the exercise of
an Option, the Company may require the person exercising such Option to
represent and warrant at the time of any such exercise that the Shares are being
purchased only for investment and without any present intention to sell or
distribute such Shares if, in the opinion of counsel for the Company, such a
representation is required under Applicable Laws.

         16.  LIABILITY OF COMPANY.

              (a) INABILITY TO OBTAIN AUTHORITY. The inability of the Company to
obtain authority from any regulatory body having jurisdiction, which authority
is deemed by the Company's counsel to be necessary to the lawful issuance and
sale of any Shares hereunder, shall relieve the Company of any liability in
respect of the failure to issue or sell such Shares as to which such requisite
authority shall not have been obtained.

              (b) GRANTS EXCEEDING ALLOTTED SHARES. If the Optioned Stock
covered by an Option exceeds, as of the date of grant, the number of Shares
which may be issued under the Plan without additional stockholder approval, such
Option shall be void with respect to such excess Optioned Stock, unless
stockholder approval of an amendment sufficiently increasing the number of
Shares subject to the Plan is timely obtained in accordance with Section 14(b)
of the Plan. In the event more than one Option is granted which exceeds, as of
the date of grant, the number of Shares which may be issued under the Plan
without additional stockholder approval, such Options shall be void as set forth
in the preceding sentence on a pro rata basis.

         17.  RESERVATION OF SHARES. The Company, during the term of this Plan,
will at all times reserve and keep available such number of Shares as shall be
sufficient to satisfy the requirements of the Plan

                                      -9-
<Page>

                             PEREGRINE SYSTEMS, INC.

                   2000 STOCK OPTION PLAN FOR FRENCH EMPLOYEES

                             STOCK OPTION AGREEMENT

                    (GRANTS MADE ON OR AFTER APRIL 17, 2001)

         Unless otherwise defined herein, the terms defined in the 2000 Stock
Option Plan for French Employees shall have the same defined meanings in this
Option Agreement.

I.       NOTICE OF STOCK OPTION GRANT

Optionee's Name and Address:
                             -------------------------------------

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

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

         You have been granted an option to purchase Common Stock of the
Company, subject to the terms and conditions of the Plan and this Stock Option
Agreement, as follows:

         Date of Grant:
                                          -------------------------------------
         Vesting Commencement Date:
                                          -------------------------------------
         Exercise Price Per Share         $
                                          -------------------------------------
         Total Number of Shares Granted:
                                          -------------------------------------
         Total Exercise Price             $
                                          -------------------------------------
         Term/Expiration Date:
                                          -------------------------------------

         1.       VESTING SCHEDULE:

         This Option may be exercised, in whole or in part, in accordance with
the following schedule: twenty-five percent (25%) of the Shares subject to this
Option shall vest and become exercisable twelve (12) months after the date of
grant (the "Initial Exercise Date") and 1/36th of the remaining Shares subject
to the Option shall vest and become exercisable each month thereafter, subject
to Optionee continuing to be an Employee on such dates.

         Notwithstanding the preceding, all of the Shares subject to the Option
shall vest on the date the Optionee ceases to be an Employee if (and only if)
the cessation as an Employee (1) occurs

                                       1

<Page>

within 12 months after a Change of Control, and (2) either was by action (a) of
the Company for a reason other than Cause, or (b) of the Employee for Good
Reason ("Good Reason Termination"). The Option shall become exercisable on the
Initial Exercise Date.

         For purposes of the preceding paragraph, Cause means (i) any act of
personal dishonesty taken in connection with the Optionee's responsibilities as
a Service Provider that is intended to result in his or her substantial personal
enrichment, (ii) the Optionee's conviction or plea of no contest to a crime that
will have a detrimental effect on the Company's reputation or business, (iii)
willful misconduct by the Optionee that is injurious to the Company, or (iv) the
Optionee's continued violation of his or her obligations to the Company after
the Optionee has been delivered written notice of the violation and given a
reasonable opportunity to cure. Good Reason Termination means, without the
Optionee's written consent (i) a material reduction in the Optionee's duties
and/or status at the Company, (ii) the Optionee's principal work location being
moved more than 30 miles, (iii) the Company reducing the Optionee's base salary
below his or her salary immediately before the Change of Control, or (iv) the
Company reducing the Optionee's bonus opportunity below his or her bonus
opportunity immediately before the Change of Control.

         2.       TERMINATION PERIOD:

                  (a) TERMINATION OF EMPLOYMENT RELATIONSHIP. In the event that
an Optionee's status as an Employee terminates (other than upon the Optionee's
death or Disability), the Optionee may exercise his or her Option, but only
within ninety (90) days from the date of such termination (or such other period
of time not exceeding ninety (90) days as is determined by the Administrator),
and only to the extent that the Optionee was entitled to exercise it at the date
of termination (but in no event later than the expiration of the term of such
Option as set forth in the Option Agreement). Notwithstanding the preceding, in
the event Optionee experiences a Good Reason Termination before the Initial
Exercise Date, the Option may be exercised within ninety (90) days from the
Initial Exercise Date. If, at the date of termination, the Optionee has not
vested in his or her entire Option, the Shares covered by the unvested portion
of the Option shall revert to the Plan. If, after termination, the Optionee does
not exercise his or her Option within the time specified by the Administrator,
the Option shall terminate, and the Shares covered by such Option shall revert
to the Plan.

                  (b) DISABILITY OF OPTIONEE. In the event that an Optionee's
status as an Employee terminates as a result of the Optionee's Disability, the
Optionee may exercise his or her Option at any time within six (6) months from
the date of such termination (or such other period of time not exceeding six (6)
months as is determined by the Administrator), but only to the extent that the
Optionee was entitled to exercise it at the date of such termination (but in no
event later than the expiration of the term of such Option as set forth in the
Option Agreement). If, at the date of termination, the Optionee has not vested
in his or her entire Option, the Shares covered by the unvested portion of the
Option shall revert to the Plan. If, after termination, the Optionee does not
exercise his or her Option within the time specified herein, the Option shall
terminate, and the Shares covered by such Option shall revert to the Plan.

                  (c) DEATH OF OPTIONEE. In the event of the death of an
Optionee while an Employee, the Option shall become immediately vested an
exercisable and the Sale Restriction

                                      -2-

<Page>

provision set forth in Section 9(c) of the Plan shall not apply to the Shares
subject to the Option. The Optionee's estate or a person who acquired the right
to exercise the Option by bequest or inheritance ("heir") may exercise the
Option within six (6) months following the date of Optionee's death. If Optionee
dies after his or her status as an Employee terminated, but before the vested
Option terminates, the Sale Restriction shall not apply to the vested Options,
and Optionee's heir may exercise the vested Option within the six (6) months
following the date of Optionee's death. If, after death, the heir does not
exercise the Option within the time specified herein, the Option shall
terminate, and the Shares covered by such Option shall immediately revert to the
Plan.

         3.       SALE RESTRICTION:

         EXCEPT IN THE EVENT OF OPTIONEE'S DEATH, THE SHARES SUBJECT TO THIS
OPTION MAY NOT BE TRANSFERRED, ASSIGNED, HYPOTHECATED OR SOLD IN ANY MANNER
OTHERWISE THAN BY WILL OR BY THE LAWS OF DESCENT OR DISTRIBUTION BEFORE THE
FOURTH ANNIVERSARY OF THE DATE OF GRANT OR, IF SHORTER, THE DAY AFTER THE
EXPIRATION OF THE RELEVANT HOLD PERIOD SET FORTH IN SECTION 163 bis C OF THE
FRENCH TAX CODE, AS SUBSEQUENTLY AMENDED ("SALE DATE").

II.      AGREEMENT

         1.       GRANT OF OPTION. The Board of the Company hereby grants to the
Optionee named in the Notice of Grant attached as Part I of this Agreement (the
"Optionee"), an option (the "Option") to purchase a number of Shares, as set
forth in the Notice of Grant, at the exercise price per share set forth in the
Notice of Grant (the "Exercise Price"), subject to the terms and conditions of
the Plan, which is incorporated herein by reference. Subject to Section 13(c) of
the Plan, in the event of a conflict between the terms and conditions of the
Plan and the terms and conditions of this Option Agreement, the terms and
conditions of the Plan shall prevail.

         2.       EXERCISE OF OPTION.

                  (a) RIGHT TO EXERCISE. This Option is exercisable during its
term in accordance with the Vesting Schedule set out in the Notice of Grant and
the applicable provisions of the Plan and this Option Agreement. In the event of
Optionee's death, Disability or other termination of Optionee's employment
relationship, the exercisability of the Option is governed by the applicable
provisions of the Plan and this Option Agreement.

                  (b) METHOD OF EXERCISE. This Option is exercisable by delivery
of an exercise notice (the "Exercise Notice"), to a broker designated by the
Company ("Designated Broker"). The Exercise Notice shall be in a form acceptable
to the Company and shall state the election to exercise the Option, the number
of Shares in respect of which the Option is being exercised (the "Exercised
Shares"), and such other representations and agreements as may be required by
the Company and/or the Subsidiary pursuant to the provisions of the Plan. The
Exercise Notice shall be delivered by a method acceptable to the Company. Until
the stock certificate evidencing such Shares is issued (as evidenced by the
appropriate entry on the books of the Company or of a duly authorized transfer
agent of the Company), no right to vote or receive dividends or any other rights
as a stockholder shall exist with respect to the Optioned Stock, notwithstanding
the exercise of the Option. The Company shall issue to the Optionee (or cause to
be issued) such stock certificate promptly after the

                                      -3-

<Page>

Option is exercised. No adjustment will be made for a dividend or other right
for which the record date is prior to the date the stock certificate is issued,
except as provided in Section 12 of the Plan. The Exercise Notice shall be
accompanied by payment of the aggregate Exercise Price as to all Exercised
Shares and all applicable taxes. This Option shall be deemed to be exercised
upon receipt by the Subsidiary of such Exercise Notice accompanied by such
aggregate Exercise Price and payment of all applicable taxes.

                  (c) No Shares shall be issued pursuant to the exercise of this
Option unless such issuance and exercise complies with all relevant provisions
of law and the requirements of any stock exchange upon which the Shares are then
listed. Assuming such compliance, for income tax purposes the Exercised Shares
shall be considered transferred to the Optionee on the date the Option is
exercised with respect to such Exercised Shares. Exercised Shares shall be
deposited in an account with the Designated Broker (except in the event of
Optionee's death as set forth in Section 2(c) above) and shall remain in the
account at the Designated Broker until the Sale Date.

         3.       METHOD OF PAYMENT. Payment of the aggregate Exercise Price
shall be by any of the following, or a combination thereof, at the election of
the Optionee:

                      (i)   cash or check (denominated in U.S. Dollars);

                      (ii)  wire transfer (denominated in U.S. Dollars);or

                      (iii) delivery of a properly executed exercise notice
together with such other documentation as the Administrator and a broker, if
applicable, shall require to effect an exercise of the Option and delivery to
the Company of an amount of the sale or loan proceeds required to pay the
exercise price ("cashless exercise"); PROVIDED, HOWEVER, payment by cashless
exercise shall not be available to Optionee prior to the Sale Date.

         4.       NON-TRANSFERABILITY OF OPTION. This Option may not be
transferred in any manner otherwise than by will or by the laws of descent or
distribution and may be exercised during the lifetime of Optionee only by the
Optionee. The terms of the Plan and this Option Agreement shall be binding upon
the executors, administrators, heirs, successors and assigns of the Optionee.

         5.       RESTRICTIVE LEGENDS AND STOP-TRANSFER ORDERS.

                  (a) LEGENDS. Optionee understands and agrees that the Company
shall cause the legends set forth below or legends substantially equivalent
thereto, to be placed upon any certificate(s) evidencing ownership of the Shares
together with any other legends that may be required by the Company or by state
or federal securities laws:

                  "AS SET FORTH IN THE STOCK OPTION AGREEMENT BETWEEN THE ISSUER
                  AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY
                  BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER, THE SHARES
                  REPRESENTED BY THIS CERTIFICATE MAY NOT BE TRANSFERRED,
                  ASSIGNED OR HYPOTHECATED IN ANY MANNER OTHER THAN BY WILL OR
                  BY THE LAWS OF DESCENT OR DISTRIBUTION BEFORE THE FOURTH
                  ANNIVERSARY OF THE DATE OF GRANT OR, IF

                                      -4-

<Page>

                  SHORTER THE DAY AFTER THE EXPIRATION OF THE RELEVANT HOLD
                  PERIOD SET FORTH IN SECTION 163 bis C OF THE FRENCH TAX CODE,
                  AS SUBSEQUENTLY AMENDED."

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

                  (c) REFUSAL TO TRANSFER. The Company shall not be required (i)
to transfer on its books any Shares that have been sold or otherwise transferred
in violation of any of the provisions of this Exercise Notice or (ii) to treat
as owner of such Shares or to accord the right to vote or pay dividends to any
purchaser or other transferee to whom such Shares shall have been so transferred

         6.       TERM OF OPTION. This Option may be exercised only within the
term set out in the Notice of Grant, and may be exercised during such term only
in accordance with the Plan and the terms of this Option Agreement. In the event
of Optionee's death, the term of the Option may be extended, but only if and to
the extent necessary to allow the Option to be exercised during the six (6)
month period following Optionee's death.

                  OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES
PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS AN
EMPLOYEE AT THE WILL OF THE COMPANY (AND NOT THROUGH THE ACT OF BEING HIRED,
BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER). OPTIONEE FURTHER
ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED
HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS
OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS AN EMPLOYEE FOR THE VESTING
PERIOD, FOR ANY PERIOD, OR AT ALL.

         7.       NATURE OF GRANT. In accepting the grant, Optionee acknowledges
that: (i) the Plan is established voluntarily by Company, it is discretionary in
nature and it may be modified, suspended or terminated by Company at any time,
as provided in the Plan and this Option Agreement; (ii) the grant of the options
is voluntary and occasional and does not create any contractual or other right
to receive future grants of options, or benefits in lieu of options, even if
options have been granted repeatedly in the past; (iii) all decisions with
respect to future option grants, if any, will be at the sole discretion of
Company; (iv) Optionee's participation in the Plan shall not create a right to
further employment with Optionee's employer ("Employer") and shall not interfere
with the ability of Optionee's Employer to terminate Optionee's employment
relationship at any time with or without cause; (v) Optionee is voluntarily
participating in the Plan; (vi) the Option is an extraordinary item that does
not constitute compensation of any kind for services of any kind rendered to
Company or Optionee's Employer, and which is outside the scope of Optionee's
employment contract, if any; (vii) the Options are not part of normal or
expected compensation or salary for any purposes, including, but not limited to,
calculating any severance, resignation, termination, redundancy, end of service
payments, bonuses, long-service awards, pension or retirement benefits or
similar payments; (viii) the Option grant cannot be interpreted to form an
employment contract or relationship with

                                      -5-

<Page>

Company; and furthermore, the Option grant cannot be interpreted to form an
employment contract with any subsidiary or affiliate of Company; (ix) the future
value of the underlying Shares is unknown and cannot be predicted with
certainty; (x) if the underlying Shares do not increase in value, the Options
will have no value; (xi) if Optionee exercises Optionee's Option and obtains
Shares, the value of those Shares acquired upon exercise may increase or
decrease in value, even below the Option Price; (xii) no claim or entitlement to
compensation or damages arises from termination of the Options or diminution in
value of the Options or Shares purchased through exercise of the Options and
Optionee irrevocably releases Company and Optionee's Employer from any such
claim that may arise; and (xiii) in the event of involuntary termination of
Optionee's Continuous Status as an Employee, Optionee's right to receive Options
and vest in Options under the Plan, if any, will terminate effective as of the
date that Optionee is no longer actively employed and will not be extended by
any notice period mandated under local law (E.G., active employment would not
include a period of "garden leave" or similar period pursuant to local law);
furthermore, in the event of involuntary termination of Optionee's Continuous
Status as an Employee, Optionee's right to exercise the Options after
termination of employment, if any, will be measured by the date of termination
of Optionee's active employment and will not be extended by any notice period
mandated under local law.

         8.       RESPONSIBILITY FOR TAXES. Regardless of any action Company or
Optionee's Employer takes with respect to any or all income tax, social
insurance, payroll tax or other tax-related withholding ("Tax-Related Items"),
Optionee acknowledges that the ultimate liability for all Tax-Related Items is
and remains Optionee's responsibility and that Company and/or Optionee's
Employer (i) make no representations or undertakings regarding the treatment of
any Tax-Related Items in connection with any aspect of the Option grant,
including the grant, vesting or exercise of the Option, the subsequent sale of
Shares acquired pursuant to such exercise and the receipt of any dividends; and
(ii) do not commit to structure the terms of the grant or any aspect of the
Option to reduce or eliminate Optionee's liability for Tax-Related Items. Prior
to exercise of the Option, Optionee shall pay or make adequate arrangements
satisfactory to Company and/or Optionee's Employer to satisfy all withholding
and payment on account obligations of Company and/or Optionee's Employer. In
this regard, Optionee authorizes Company and/or Optionee's Employer to withhold
all applicable Tax-Related Items legally payable by Optionee from Optionee's
wages or other cash compensation paid to Optionee by Company, Optionee's
Employer or from proceeds of the sale of the Shares. Alternatively, or in
addition, if permissible under local law, Company may (i) sell or arrange for
the sale of Shares that Optionee acquires to meet the withholding and payment on
account obligation for Tax-Related Items, and/or (ii) withhold in Shares,
provided that Company only withholds the amount of Shares necessary to satisfy
the minimum withholding amount. Finally, Optionee shall pay to Company or
Optionee's Employer any amount of Tax-Related Items that Company or Optionee's
Employer may be required to withhold as a result of Optionee's participation in
the Plan or Optionee's purchase of Shares that cannot be satisfied by the means
previously described. Company may refuse to honor the exercise and refuse to
deliver the Shares if Optionee fails to comply with Optionee's obligations in
connection with the Tax-Related Items as described in this section.

         9.       DATA PRIVACY. Optionee hereby explicitly and unambiguously
consents to the collection, use and transfer, in electronic or other form, of
Optionee's personal data as described in this document by and among, as
applicable, Optionee's Employer, and Company and its subsidiaries

                                      -6-

<Page>

and affiliates for the exclusive purpose of implementing, administering and
managing Optionee's participation in the Plan. Optionee understands that Company
and Optionee's Employer hold certain personal information about Optionee,
including, but not limited to, Optionee's name, home address and telephone
number, date of birth, social insurance number or other identification number,
salary, nationality, job title, any shares of stock or directorships held in
Company, details of all options or any other entitlement to shares of stock
awarded, canceled, exercised, vested, unvested or outstanding in Optionee's
favor, for the purpose of implementing, administering and managing the Plan
("Data"). Optionee understands that Data may be transferred to any third parties
assisting in the implementation, administration and management of the Plan, that
these recipients may be located in Optionee's country or elsewhere, and that the
recipient's country may have different data privacy laws and protections than
Optionee's country. Optionee understands that Optionee may request a list with
the names and addresses of any potential recipients of the Data by contacting
Optionee's local human resources representative. Optionee authorizes the
recipients to receive, possess, use, retain and transfer the Data, in electronic
or other form, for the purposes of implementing, administering and managing
Optionee's participation in the Plan, including any requisite transfer of such
Data as may be required to a broker or other third party with whom Optionee may
elect to deposit any Shares of stock acquired upon exercise of the Option.
Optionee understands that Data will be held only as long as is necessary to
implement, administer and manage Optionee's participation in the Plan. Optionee
understands that Optionee may, at any time, view Data, request additional
information about the storage and processing of Data, require any necessary
amendments to Data or refuse or withdraw the consents herein, in any case
without cost, by contacting in writing Optionee's local human resources
representative. Optionee understands, however, that refusing or withdrawing
Optionee's consent may affect Optionee's ability to participate in the Plan. For
more information on the consequences of Optionee's refusal to consent or
withdrawal of consent, Optionee understands that Optionee may contact Optionee's
local human resources representative.

         10.      ENTIRE AGREEMENT; GOVERNING LAW. The Plan and the Option
Agreement constitute the entire agreement of the parties and supersede in their
entirety all prior undertakings and agreements of the Company and Optionee with
respect to the subject matter hereof, and such agreement is governed by the laws
of California and the United States of America except for that body of laws
pertaining to conflict of laws.

                                   * * * * * *

         By your signature and the signature of the Company's representative
below, you and the Company agree that this Option is granted under and governed
by the terms and conditions of the Plan and this Option Agreement. Optionee has
reviewed the Plan and this Option Agreement in their entirety, has had an
opportunity to obtain the advice of counsel prior to executing this Option
Agreement and fully understands all provisions of the Plan and Option Agreement.
Optionee hereby agrees to accept as binding, conclusive and final all decisions
or interpretations of the Administrator upon any questions relating to the Plan
and Option Agreement.

                                      -7-
<Page>

        OPTIONEE:                             PEREGRINE SYSTEMS, INC.

                                        By:
-------------------------------            -------------------------------------
Signature

                                        Title:
-------------------------------               ----------------------------------
Print Name

                                      -8-

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