Document:

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Exhibit 10.9

     [GRAPHIC OMITTED]        Neoware Systems, Inc.
                              400 Feheley Drive
                              King of Prussia, PA 19406
                              1.610.277.8300:voice
                              1.610.275.5739:fax
                              www.neoware.com

                                                     January 20, 1999

Mr. Vincent T. Dolan
265 Aldrin Drive
Ambler, PA 19002

Dear Vince:

I am pleased to offer you the position Chief Financial Officer (CFO) for Neoware
Systems, Inc. reporting directly to me. The Board of Directors, the other
officers and I are convinced that you possess the skills, experience, and
business acumen to make significant contributions to Neoware in its quest to be
a major force in the thin client computing paradigm.

The position of CFO is an executive officer position at Neoware. The
compensation plan for such a position has three components: a base salary, an
executive officer bonus, and options for Neoware common stock.

The CFO enjoys a biweekly salary of $4,615.39 (which would annualize to
$120,000.00). The CFO position also enjoys three weeks of annual vacation earned
on a pro rata basis over the course of the year.

The outline of the current FY99 bonus program is as follows. The officer's bonus
pool is funded by fixed percentages applied against both revenue and operating
income, with the major emphasis being on revenue. The CFO enjoys a 12.5% share
of that pool which pays out 100% upon achieving the annual goals. Pay out,
contingent upon Neoware generating annual positive operating income in the
fiscal year, begins at 75% of the annual revenue goal and pay out is leveraged
by 30% above the annual revenue goal without limitation.

I am also pleased to make available to you, contingent upon the approval of the
Compensation and Stock Committee of the Board of Directors, 50,000 options to
purchase Neoware common stock (NWRE). The price of those options is fixed at a
price equal to the fair market value of the common stock on the first day of
your employment. These options will vest in four equal annual amounts commencing
one year from the date of the grant.

In addition, in the event of a change of control in the ownership of the company
and if you are not offered continued employment by the successor corporation
Neoware would provide up to nine months of salary and benefit continuation. This
continuation will be no less than three months, but would cease at three months
if individual members of the Board of Directors have been successful in
assisting you in finding employment within the broad family of Safeguard
Companies or elsewhere.

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Enclosed for your perusal is a summary of the benefits program offered by
Neoware Systems to all of its employees. We believe it to be very competitive
for a company of our size. Details will be provided on the first day of your
employment.

Upon starting your employment at Neoware you will be expected to sign certain
documents bounding your behavior while an employee of Neoware and governing your
behavior should you no longer be an employee of Neoware. The former is for
protection of our intellectual property and proprietary information. The latter
restricts you from being employed by any of our direct competitors for a period
of twenty-four months and from hiring any of Neoware's employees for a similar
period.

This offer is for at will employment and is valid through January 20, 1999.
Please sign this document where indicated below and return it to me as soon as
possible. I trust that you will start your employment as soon as possible and no
later than February 1, 1999.

Vince, I am genuinely excited by the prospect of our working together again and
by the value you bring to Neoware. Together with the other officers and
employees of Neoware we have an opportunity to make a difference in the
computing architecture deployed by major corporations throughout the world.

---------------------------------                  -----------------------------
 Accepted by Vincent T. Dolan                                 Start date

Sincerely,

Edward C. Callahan, Jr.
President and CEO

Delivered by Fax

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Exhibit 10.11

                                    TERM NOTE
                                    ---------

$57,348.76                                                  Date: April 14, 2000

         FOR VALUE RECEIVED, without defalcation, MICHAEL G. KANTROWITZ
("Maker"), in accordance with the terms and conditions set forth below, hereby
promises to pay to the order of NEOWARE SYSTEMS, INC. ("Payee"), the principal
sum of Fifty-Seven Thousand Three Hundred Forty-Eight Dollars and 76/100
($57,348.76), in lawful money of the United States of America, together with
interest thereon at an annual rate of eight percent (8%), subject to the terms
of this Note.

                  (a) The principal balance of this Note shall be payable in
equal, annual installments of $14,337.19 commencing on April 14, 2001 and
continuing on each April 14 thereafter until April 14, 2004. In addition to the
foregoing, in the event of the payment of a bonus to Maker by Payee during the
period that any amount of the principal balance under this Note shall remain
outstanding, the net amount of such bonus payable to Maker shall be applied to
the payment of the outstanding principal balance of this Note, and the remaining
outstanding principal balance shall be paid in accordance with the foregoing
schedule of principal payments until payment in full of the unpaid principal
balance.

                  (b) Interest on the outstanding principal balance of this
Note, from time to time, shall be payable in annual installments on April 14,
2001 and continuing on each April 14 thereafter until the earlier of April 14,
2004 or the repayment in full of the unpaid principal balance and accrued
interest of this Note.

                  (c) The unpaid principal balance of this Note, plus all
accrued and unpaid interest thereon, shall be payable on the earliest to occur
of: (i) Event of Default (as such term is defined herein), (ii) an event of
default under the Pledge Agreement (as defined herein), or (iii) April 14, 2004
(unless the principal balance is sooner paid in full); provided, however, that
Maker shall have the right to prepay this Note, in whole or in part, at any time
without premium or penalty.

                  (d) Interest shall be computed on the basis of a 360-day year
for the actual number of days elapsed (365/360 or 366/360 as appropriate).

                  (e) All payments of principal and interest with regard to this
Note shall be made to Payee in lawful money of the United States of America in
immediately available funds at Neoware Systems, Inc., 400 Feheley Drive, King of
Prussia, Pennsylvania 19406.

                  (f) This Note is being delivered by Maker to Payee in
connection with the exercise by Maker of Payee's common stock purchase warrants
to acquire 31,293 shares of Payee's Common Stock on even date herewith with the
proceeds of the Note. This Note is the Note referred to in the Pledge Agreement
of even date herewith (the "Pledge Agreement") and is entitled to all the
benefits of such Pledge Agreement and all the security referred to therein. In
the event of a conflict between the terms of this Note and the terms of the
Pledge Agreement, the terms of this Note shall control.
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                  (g) Each of the following shall constitute an event of default
("Event of Default"):

                           (i) Failure by Maker to pay the interest on, or
principal of, this Note within ten (10) days after such amounts become due;

                           (ii) Any representation or warranty made by Maker in
the Pledge Agreement shall prove to be false or misleading in any material
respect as of the date when made;

                           (iii) Failure by Maker to observe or perform any
covenants, conditions or provisions contained in the Pledge Agreement provided
that such failure shall continue for a period of fifteen (15) days after written
notice from Payee to Maker or the occurrence of an Event of Default (as defined
herein);

                           (iv) Filing by Maker of a voluntary petition in
bankruptcy or a voluntary petition or any answer seeking arrangement or
readjustment of her debts or for any other relief under the Bankruptcy Reform
Act of 1994, as amended ("Bankruptcy Code"), or under any other existing or
future federal or state insolvency act or law, or any formal written consent to,
approval of, or acquiescence in, any such petition or proceeding by Maker, the
application by Maker for, or the appointment by consent or acquiescence of, a
receiver or trustee of Maker or for all or a substantial part of her property;
the making by Maker of an assignment for the benefit of creditors; or

                           (v) Filing of any involuntary petition against Maker
in bankruptcy or seeking arrangement or readjustment of his debts or for any
other relief under the Bankruptcy Code, or under any other existing or future
federal or state insolvency act or law; or the involuntary appointment of a
receiver or trustee of Maker, or for all or a substantial part of the property
of Maker; and the continuance of any of such events for a period of sixty (60)
days undismissed, unbonded or undischarged.

                  (h) Upon the occurrence of an Event of Default, then, and in
such event, Payee may declare this Note to be due and payable, whereupon the
entire unpaid balance of principal, together with all accrued interest thereon,
shall become immediately due and payable without presentment, demand, protest or
other notice of any kind, all of which are hereby expressly waived, anything
herein or in the Pledge Agreement to the contrary notwithstanding.

                  (i) THE FOLLOWING PARAGRAPH SETS FORTH A WARRANT OF AUTHORITY
FOR AN ATTORNEY TO CONFESS JUDGMENT AGAINST MAKER. IN GRANTING THIS WARRANT OF
AUTHORITY TO CONFESS JUDGMENT AGAINST HIM, MAKER HEREBY KNOWINGLY, INTENTIONALLY
AND VOLUNTARILY, AND, ON THE ADVICE OF COUNSEL, UNCONDITIONALLY WAIVES ANY AND
ALL RIGHTS MAKER HAS OR MAY HAVE TO PRIOR NOTICE AND AN OPPORTUNITY FOR A
HEARING UNDER THE RESPECTIVE CONSTITUTIONS AND LAWS OF THE UNITED STATES AND THE
COMMONWEALTH OF PENNSYLVANIA AND ALL OTHER JURISDICTIONS.

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                  UPON THE OCCURRENCE OF AN EVENT OF DEFAULT AS THAT TERM IS
DEFINED HEREIN, MAKER HEREBY IRREVOCABLY AUTHORIZES AND EMPOWERS ANY ATTORNEY OF
ANY COURT OF THE COMMONWEALTH OF PENNSYLVANIA OR ELSEWHERE TO APPEAR AT ANY TIME
FOR MAKER IN ANY ACTION BROUGHT AGAINST SUCH MAKER ON THIS NOTE AT THE SUIT OF
PAYEE, WITH OR WITHOUT DECLARATION FILED, AS OF ANY TERM, AND THEREIN TO CONFESS
OR ENTER JUDGMENT AGAINST MAKER FOR THE ENTIRE UNPAID PRINCIPAL OF THIS NOTE AND
ALL OTHER SUMS PAYABLE BY OR ON BEHALF OF MAKER PURSUANT TO THE TERMS OF THIS
NOTE OR THE PLEDGE AGREEMENT, AND ALL ARREARAGES OF INTEREST THEREON, TOGETHER
WITH COSTS OF SUIT, ATTORNEY'S COMMISSION FOR COLLECTION OF FIVE PERCENT (5%) OF
THE TOTAL AMOUNT THEN DUE BY MAKER TO PAYEE (BUT IN ANY EVENT NOT LESS THAN ONE
THOUSAND DOLLARS ($1,000.00)), AND FOR SO DOING THIS NOTE OR A COPY HEREOF
VERIFIED BY AFFIDAVIT SHALL BE A SUFFICIENT WARRANT. THE AUTHORITY GRANTED
HEREIN TO CONFESS JUDGMENT SHALL NOT BE EXHAUSTED BY ANY EXERCISE THEREOF BUT
SHALL CONTINUE FROM TIME TO TIME AND AT ALL TIMES UNTIL PAYMENT IN FULL OF ALL
THE AMOUNTS DUE HEREUNDER.

                  (j) Maker hereby waives and releases all errors, defects and
imperfections in any proceedings instituted by Payee under the terms of this
Note or of the Pledge Agreement, as well as all benefit that might accrue to
Maker by virtue of any present or future laws exempting any property, real or
personal, or any part of the proceeds arising from any sale of any such
property, from attachment, levy, or sale under execution, or providing for any
stay of execution, exemption from civil process, or extension of time for
payment; and Maker agrees that any real estate that may be levied upon pursuant
to a judgment obtained by virtue hereof, on any writ of execution issued
thereon, may be sold upon any such writ in whole or in part in any order desired
by Payee.

                  (k) Payee shall not be deemed, by any act of omission or
commission, to have waived any of its rights or remedies hereunder unless such
waiver is in writing and signed by Payee, and then only to the extent
specifically set forth in the writing. A waiver on one event shall not be
construed as continuing or as a bar to or waiver of any right or remedy to a
subsequent event.

                  (l) This instrument shall be governed by and construed
according to the domestic, internal law (but not the law of conflict of laws) of
the Commonwealth of Pennsylvania.

                  (m) Whenever used, the singular number shall include the
plural, the plural the singular, the use of any gender shall be applicable to
all genders, and the words "Payee" and "Maker" shall be deemed to include the
respective heirs, personal representatives and assigns of Payee and Maker.

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                  (n) Any provision contained in this Note which is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability, without
invalidating the remaining provisions hereof and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

         IN WITNESS WHEREOF, Maker, intending to be legally bound hereby, has
executed this Note on the day and year first above written.

-------------------------------          ---------------------------------------
             Witness                     Michael G. Kantrowitz

                                         ADDRESS:

                                         ---------------------------------------
                                         telephone:
                                                   -----------------------------
                                         facsimile:
                                                   -----------------------------

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Exhibit 10.11 (Continued)

                                PLEDGE AGREEMENT
                                ----------------

         PLEDGE AGREEMENT, dated as of April 14, 2000, by MICHAEL G. KANTROWITZ,
with a mailing address at 620 Christian Street, Philadelphia, Pennsylvania 19947
("Pledgor"), in favor of Neoware Systems, Inc., a Delaware corporation with its
principal office at 400 Feheley Drive, King of Prussia, Pennsylvania 19406
("Pledgee").

         WHEREAS, Pledgor has delivered to Pledgee in payment for certain
obligations pursuant to the terms of a promissory note ("Note"), dated as of
even date herewith, and Pledgor desires to pledge and to grant to Pledgee a
security interest in 31,293 shares of common stock, par value $.001 per share
("Common Stock"), of Pledgee in order to secure the obligations of Pledgor under
the Note.

         NOW, THEREFORE, intending to be legally bound hereby, the parties
hereto agree as follows:

         1. Pledgor hereby grants a security interest in, and pledges to,
Pledgee, 31,293 shares of Common Stock (the "Shares"), in order to secure
payment and performance of all obligations due by Pledgor to Pledgee under the
Note.

         2. Upon the exercise of common stock purchase warrants to acquire
31,293 shares of Pledgee's Common Stock owned by Pledgor (the "Warrants"), the
Shares issued upon exercise of the Warrants will be represented by a
certificate, duly issued in the name of Pledgor (the "Certificate") and duly
endorsed for transfer or accompanied by an appropriate stock power executed in
blank.

         3. Except for the security interest granted or acknowledged hereby,
upon exercise of the Warrants, Pledgor will own the Shares free from any adverse
lien, security interest or encumbrance. Pledgor will defend the Shares against
all claims and demands of all persons at any time claiming the same or any
interest therein.

         4. Pledgor hereby covenants that, until the Shares are delivered to
Pledgor by Pledgee, Pledgor will not sell, convey, or otherwise dispose of any
of the Shares or any interest therein, or create, incur or permit to exist any
claim, pledge, mortgage, lien, charge, encumbrance or any security interest
whatsoever in or with respect to any of the Shares or the proceeds thereof,
other than that created hereby and will not do or suffer any act or failure to
act which would impair the lien on or the value of the Shares.

         5. Upon the occurrence of an Event of Default under the Note, Pledgor
shall have the rights and remedies provided in the Uniform Commercial Code of
the Commonwealth of Pennsylvania as regards the Shares subject hereto or any
other applicable law.

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         6. Pledgor hereby irrevocably appoints Pledgee as the true and lawful
attorney and proxy for Pledgor, with full power of substitution for and in
Pledgee's name in the stock records of Pledgor with respect to all of the
Shares, to vote and otherwise act, or give written consent in lieu thereof, at
all meetings of stockholders of the Company, and at any time the Shares are
required to or may be voted or acted upon. This appointment of proxy is
irrevocable and coupled with an interest and shall not terminate by operation of
law, whether by the dissolution, liquidation or bankruptcy of the Company, or
the occurrence of any other event.

         7. In the event that Pledgor prepays a portion of the principal amount
due under the Note, Pledgee agrees to deliver to Pledgor a certificate for such
amount of the Shares as shall be related to the amount of the principal prepaid,
and the stock power with respect thereto, upon receipt from Pledgor of a stock
power with respect to the certificate representing the balance of the Shares
pledged hereunder. Upon payment of all obligations due under the Note, Pledgee
agrees to return to Pledgor, or to such party as Pledgor shall designate, all
Shares subject to this Pledge Agreement and all Certificates representing the
Shares and all stock powers with respect thereto, and this Pledge Agreement
shall thereby be terminated. In addition thereto, Pledgee further agrees to
execute such release or termination notice that might reasonably be required.

         8. (a) No course of dealing between Pledgor and Pledgee, nor any
failure to exercise, nor any delay in exercising, any right, power or privilege
of Pledgee hereunder or under the Note shall operate as a waiver thereof; nor
shall any single or partial exercise of any right, power or privilege hereunder
or thereunder preclude any other or further exercise thereof or the exercise of
any other right, power or privilege.

                  (b) Pledgor hereby agrees that Pledgee, at any time and
without affecting his rights in the Shares and without notice to Pledgor, may
grant any extensions, releases or other modifications of any kind respecting the
Note, the Pledgor's obligations under the Note and any collateral security
therefor, and Pledgor hereby waives all notices in connection therewith.

         9. This Pledge Agreement shall be binding upon Pledgor and his heirs
and assigns.

         10. This Agreement shall be construed in accordance with the
substantive law of the Commonwealth of Pennsylvania without regard to principles
of conflicts of laws.

         IN WITNESS WHEREOF, this Pledge Agreement has been duly executed as of
the 14th day of April, 2000.

                                     -------------------------------------------
                                     MICHAEL G. KANTROWITZ

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