Document:

Prepared by MerrillDirect

EXHIBIT 10.8

PREVIEW SYSTEMS, INC.

OFFICER RETENTION, SEVERANCE,
AND ACCELERATED VESTING

AGREEMENT

Name:  
Murali Dharan                                                                       Date:  
April 10, 2001

             Preview
Systems wishes to provide you with an incentive to continue in the service of
the Company through certain potential transactions and for a reasonable period
of time thereafter.  If you wish to
receive the benefits of the Retention Bonus, Severance and Accelerated Vesting
Agreement, please sign the bottom of this letter indicating your acknowledgement
and agreement to the terms described in this letter, and return it to HR no later than 5:00 p.m.
on April 17, 2001.

Retention Bonus Amount:

Lump
sum payment equal to twelve months of your base salary plus 100% of your target
bonus for this year, reduced by applicable withholding taxes.

Severance Benefits:

	 	•	Lump
  sum payment equal to six months of your base salary plus 50% of your target
  bonus for this year, reduced by applicable withholding taxes.
	 	 	 
	 	•	Up
  to a maximum amount of $5,000 in reimbursement for fees incurred in obtaining
  tax or financial accounting advice with respect to this Agreement.
	 	 	 
	 	•	Coverage
  under the Company’s director and officer liability insurance program for a
  period of 3 years following the termination date, but only if and to the
  extent that such insurance is maintained for other officers and directors of
  the Company in general.
	 	 	 
	 	•	Reimbursement
  for COBRA coverage under the Company’s medical, dental, and vision insurance
  benefits at Company expense until the earlier of December 31, 2001, or the
  date on which you become eligible for medical insurance coverage from another
  employer, or the date on which COBRA coverage is no longer available under
  the Company’s plans.  Should COBRA
  coverage no longer be available, the Company will purchase an individual
  policy providing for equivalent coverage through December 31, 2001.

Accelerated Vesting:

	 	•	100%
  of  March 2001 grant
	 	 	 
	 	•	50%
  of previously unvested options or unvested stock subject to repurchase,
  except for grants subject to 100% accelerated vesting.

 

Conditions for Receipt of the Retention Bonus:  You will
receive the Retention Bonus if

One
of the following circumstances applies to you:

	 	•	You
  continue in the active full time employment of Preview until June 30, 2001;
  or
	 	 	 
	 	•	You
  are terminated from your employment by Preview other than for cause before
  June 30, 2001.

And
you meet each of the following conditions:

	 	•	You
  maintain the confidentiality of this Retention Bonus offer.
	 	 	 
	 	•	You
  sign and return a general release of claims in a form provided by Preview
  Systems (a copy of which is attached) within the time frame described on the
  release.

Conditions for Receipt of Severance Benefits:

	 	•	Your
  employment with the Company is terminated by the Company other than for
  cause.

And
you meet each of the following conditions:

	 	•	You
  maintain the confidentiality of this Severance offer.
	 	 	 
	 	•	You
  sign and return a general release of claims in a form provided by Preview
  Systems (a copy of which is attached) within the time frame described on the
  release.

Condition for Receipt of Accelerated Vesting:  You will
receive the Acceleration of Vesting on the earlier of the following events:

	 	•	You
  are employed by the Company immediately prior to the closing of a transaction
  involving the sale of substantially all of the Company’s assets or the
  acquisition of more than 50% of the voting shares of the Company’s stock.
	 	 	 
	 	•	Termination
  of your employment other than for cause, and you sign and return a general
  release of claims.

 

	 	Preview
  Systems, Inc.
	 	 
	 	By:
	 	

	 	 
	 	Title:
  President & CEO
	 	 
	 	 
	ACKNOWLEDGED
  AND ACCEPTED:	 
	 	 
	 	Date:Prepared by MerrillDirect

EXHIBIT 10.9

PREVIEW SYSTEMS, INC.

OFFICER RETENTION, SEVERANCE,
AND ACCELERATED VESTING

AGREEMENT

Name:  
Vincent Pluvinage                                                                 Date:  
April 17, 2001

             Preview
Systems wishes to provide you with an incentive to continue in the service of
the Company through certain potential transactions and for a reasonable period
of time thereafter.  If you wish to
receive the benefits of the Retention Bonus, Severance and Accelerated Vesting
Agreement, please sign the bottom of this letter indicating your acknowledgement
and agreement to the terms described in this letter, and return it to HR no later than 5:00 p.m.
on April 24, 2001.

Retention Bonus Amount:

	 	•	Lump
  sum payment equal to six months of your base salary plus 50% of your target
  bonus for this year, reduced by applicable withholding taxes (the “Retention
  Cash Bonus”); provided that such net amount of the Retention Cash Bonus
  shall be used to automatically and without further action by you offset in
  part that certain promissory note with a principal amount of $175,000 issued
  by you in October 2000 and later amended in March 2001.
	 	 	 
	 	•	Forgiveness
  of Promissory Notes: The Company will forgive the aggregate of $937,475
  principal on the promissory notes issued in connection with your purchase of
  250,000 shares of Company common stock in October 1997, December 1997 and
  January 1998 and your purchase of 125,000 shares of Company common stock in
  July 1999, plus the accrued interest on the entire principal amounts of these
  notes (the “Retention Note Forgiveness Bonus” and together with the
  Retention Cash Bonus, the “Retention Bonus”).  In accordance with applicable tax law, the
  aggregate forgiven amount shall be reported as taxable income to you on your
  Form W-2 for the year in which such amount is forgiven according to the
  payment schedule below.  In addition,
  you will receive a one-time tax gross-up payment equal to the amount of state
  and federal income tax (but excluding any other applicable taxes, if any)
  payable by you with respect to the amount of interest forgiven on the notes,
  with the documentation for the estimated income tax liability on such
  interest to be provided to the Company by you prior to any such payment.  You will also receive a one-time tax
  gross-up payment of up to $300,000 to be used for the payment in part of the
  amount of state and federal income tax (but excluding any other applicable
  taxes, if any) payable by you with respect to the amount of principal
  forgiven on the notes, with the documentation for the estimated income tax
  liability on such principal forgiveness to be provided to the Company by you
  prior to any such payment.  You will
  remain liable for all remaining taxes payable with respect to the amount of
  forgiven principal on the Note.

 

Severance Benefits:

	 	•	Lump
  sum payment equal to twelve months of your base salary plus 100% of your
  target bonus for this year, reduced by applicable withholding taxes.
	 	 	 
	 	•	Coverage
  under the Company’s director and officer liability insurance program for a
  period of 3 years following the termination date, but only if and to the
  extent that such insurance is maintained for other officers and directors of
  the Company in general.
	 	 	 
	 	•	Reimbursement
  for COBRA coverage under the Company’s medical, dental, and vision insurance
  benefits at Company expense until the earlier of 1 year after termination of
  your employment with the Company, or the date on which you become eligible
  for medical insurance coverage from another employer, or the date on which
  COBRA coverage is no longer available under the Company’s plans or a
  successor’s plans.  In the event that
  COBRA coverage ceases to be available because no group health insurance plans
  are maintained by the Company or a successor for active employees during the above
  1 year period and prior to your eligibility for medical insurance coverage
  from another employer,  the Company
  will purchase an individual policy providing for equivalent coverage for the
  remainder of the coverage period described above, if any.

Tax Advice Allowance:

Lump
sum payment of $10,000 (on an estimated after-tax basis) to be made on April
30, 2001, for fees incurred in obtaining tax or accounting advice with respect
to this Agreement (excludes work performed by Arthur Anderson and Venture Law
Group).

Accelerated Vesting:

	 	•	100%
  of previously unvested options or unvested stock subject to repurchase

Conditions for Receipt of the Retention Bonus:

You
will receive the Retention Cash Bonus on June 30, 2001 if you continue in the
active full time employment of Preview until June 30, 2001.

You
will receive the Retention Note Forgiveness Bonus if you continue in the active
full time employment of Preview until the completion of the sale or liquidation
of the Company and all associated wind-down activities.

If
you are terminated by the Company without Cause at any time after the effective
date of this Agreement, you will receive any Retention Bonus which has not been
paid to you (or forgiven, with respect to the Retention Note Forgiveness Bonus)
by the Company at such time, provided you sign and return a general release of
claims in a form provided by Preview Systems (a copy of which is attached) no later than seven days following the
termination of your employment.

“Cause”
for purposes of this agreement shall mean (i) gross negligence or willful
misconduct in the performance of your duties to the Company where such gross
negligence or willful misconduct has resulted or is likely to result in
substantial and material damage to the Company or its subsidiaries (ii)
repeated unexplained or unjustified absence from the Company, (iii) violation
of the Company’s prohibitions on harassment and discrimination or other
material and willful violation of any federal or state law; (iv) commission of
any act of fraud with respect to the Company or (v) conviction of a felony or a
crime involving moral turpitude causing material harm to the standing and
reputation of the Company, in each case as determined in good faith by the
Board.

Conditions for Receipt of Severance Benefits:

	 	•	Your
  employment with the Company is terminated by the Company other than for
  Cause.

And
you meet each of the following conditions:

	 	•	You
  maintain the confidentiality of this Severance offer.
	 	 	 
	 	•	You
  sign and return a general release of claims in a form provided by Preview
  Systems (a copy of which is attached) no
  later than seven days following the termination of your employment..

Condition for Receipt of Accelerated Vesting:  You will
receive the Acceleration of Vesting on the earlier of the following events:

	 	•	You
  are employed by the Company immediately prior to the closing of a transaction
  involving the sale of substantially all of the Company’s assets or the
  acquisition of more than 50% of the voting shares of the Company’s stock.
	 	 	 
	 	•	You
  are terminated  from your employment
  by the Company other than for Cause, and you sign and return a general
  release of claims in a form provided by Preview Systems (a copy of which is
  attached) no later than seven days
  following the termination of your employment..

 

	 	 	Preview
  Systems, Inc.
	 	 	 
	 	 	By:
	 	 	

	 	 	Name:
  Bruce Bourbon
	 	 	Title:
  Director and Member of the Company’s Compensation Committee
	 	 	 
	 	 	 
	 	 	By:
	 	 	

	 	 	Name:
  Gerard Langeler
	 	 	Title:
  Director and Member of the Company’s Compensation Committee
	 	 	 
	 	 	 
	 	 	By:
	 	 	

	 	 	Name:
  Jo Ann Heidi Roizen
	 	 	Title:
  Director and Member of the Company’s Compensation Committee
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	ACKNOWLEDGED
  AND ACCEPTED:	 	 
	 	 	 
	 	 	 
	 	Date:
	

	

	Vincent
  Pluvinage

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