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                                                                     Exhibit 4.6

                    AGREEMENT REGARDING THE INSURANCE POLICY
                 FOR EXPROPRIATION AND CURRENCY INCONVERTIBILITY

     This Agreement Regarding the Insurance Policy for Expropriation and
Currency Inconvertibility, dated as of December 19, 2001 (the "AGREEMENT"), is
entered into by and among (i) The Bank of New York, not in its individual
capacity, but solely in its capacity as trustee under the Indenture (as defined
below) (the "INSURED"), (ii) Companhia de Bebidas das Americas (the
"GUARANTOR"), (iii) Steadfast Insurance Company (the "UNDERWRITER") and (iv)
Companhia Brasileira de Bebidas CBB (the "ISSUER"). The Insured, the Guarantor,
the Underwriter and the Issuer are herein referred to collectively to as the
"PARTIES."

                                    RECITALS

          A.   The Parties contemplate that the Issuer will issue and sell
certain Insured Notes (the "INSURED NOTES") to a number of institutional
investors (the "NOTEHOLDERS").

          B.   In connection with the issuance and sale of the Insured Notes,
the Insured and the Issuer will enter into a trust indenture (the "INDENTURE"),
dated as of December 19, 2001, providing for the issuance of the Insured Notes.

          C.   In order to guaranty the payment of the Insured Notes, the
Guarantor will issue a guaranty (the "Guaranty"), dated as of December 19, 2001,
providing for the guaranty by the Foreign Enterprise of the Issuer's payment
obligation under the Indenture.

          D.   In connection with the execution and delivery of the Indenture,
the Underwriter has issued an Insurance Policy for Expropriation and Currency
Inconvertibility (Policy No. 37-48-604), dated as of December 19, 2001 (which,
together with the Declarations thereto, constitutes the "Insurance Policy"), the
beneficiary of which is the Insured, for the benefit of the Noteholders.

          E.   The Parties wish to set forth herein certain agreements in
connection with the Insurance Policy.

                                   AGREEMENTS

         The Parties, with the intention of being legally bound, agree as
follows:

1.   DEFINED TERMS.

     Capitalized terms used in this Agreement and not otherwise defined have the
meaning assigned to such terms in the Insurance Policy (as defined below).

2.   REPRESENTATIONS, WARRANTIES AND/OR COVENANTS BY THE GUARANTOR AND THE
     ISSUER.

          (a)  The Guarantor represents, warrants and/or covenants that:

               (1)  all written information that the Guarantor has provided to
          the Insured in connection with the Application for Insurance is true
          and correct as of the date on which it was delivered to the Insured
          and that no material information related to such Application for
          Insurance has been or will be withheld;

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               (2)  it has or will obtain all such valid licenses and permits as
          required by law in order for it to enter into and perform its
          obligations under the Guaranty and will make all applications as
          required by law to extend, renew or modify such licenses to comply
          with any new requirement promulgated during the Policy Period;

               (3)  it will, after consulting with the Insurer, (i) take all
          reasonable steps to avoid or minimize any Loss (other than any Loss
          where Compensation is excluded or excludable under the terms of
          Article V of the Insurance Policy); (ii) cooperate fully with the
          Underwriter in the investigation of any Claim, the resolution of any
          potential Claim situation and the pursuit of any Claim salvage; and
          (iii) not enter into any agreement concerning a Loss or potential Loss
          without the Underwriter's prior written consent. In addition, the
          Guarantor will (i) pursue all reasonable diplomatic, legal,
          administrative, judicial and other legal means which may be reasonably
          available to minimize or recover any Loss, and (ii) preserve any
          legal, judicial and administrative remedies applicable to any Claim
          and furnish reasonable assistance in maintaining any rights or
          property transferred to the Underwriter; and

               (4)  all information to be provided by the Guarantor (including
          any information provided in any statements, reports, or applications),
          either directly or through the Insured, in connection with any Claim
          or potential Claim under the Insurance Policy will, to the Guarantor's
          knowledge, be true and correct in all material respects and the
          Guarantor shall not knowingly conceal any material fact, including, in
          connection with any such Claim or potential Claim.

          (b)  The Issuer represents, warrants and/or covenants that:

               (1)  all written information that the Issuer has provided to the
          Insured in connection with the Application for Insurance is true and
          correct as of the date on which it was delivered to the Insured and
          that no material information related to such Application for Insurance
          has been or will be withheld;

               (2)  it has or will obtain all such valid licenses and permits as
          required by law in order for it to enter into and perform its
          obligations under the Indenture and will make all applications as
          required by law to extend, renew or modify such licenses to comply
          with any new requirement promulgated during the Policy Period;

               (3)  it will, after consulting with the Insurer, (i) take all
          reasonable steps to avoid or minimize any Loss (other than any Loss
          where Compensation is excluded or excludable under the terms of
          Article V of the Insurance Policy); (ii) cooperate fully with the
          Underwriter in the investigation of any Claim, the resolution of any
          potential Claim situation and the pursuit of any Claim salvage; and
          (iii) not enter into any agreement concerning a Loss or potential Loss
          without the Underwriter's prior written consent. In addition, the
          Issuer will (i) pursue all reasonable diplomatic, legal,
          administrative, judicial and other legal means which may be reasonably
          available to minimize or recover any Loss, and (ii) preserve any
          legal, judicial and administrative remedies applicable to any Claim
          and furnish reasonable assistance in maintaining any rights or
          property transferred to the Underwriter; and

               (4)  all information to be provided by the Issuer (including any
          information provided in any statements, reports, or applications),
          either directly or through the Insured, in connection with any Claim
          or potential Claim under the Insurance Policy will, to the

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          Issuer's knowledge, be true and correct in all material respects and
          the Issuer shall not knowingly conceal any material fact, in
          connection with any such Claim or potential Claim.

          (c)  Each of the Parties hereby acknowledge that in the case of any
          material breaches or misrepresentations of either the Guarantor, in
          the case of (a) above, or the Issuer, in the case of (b) above, the
          Underwriter may void the Insurance Policy, retain the premium paid
          therefore and refuse to compensate the Insured for any Loss.

3.   DELEGATION OF INSURED'S DUTIES AND OBLIGATIONS.

     The Insured hereby delegates to each of the Issuer and the Guarantor and
each of the Issuer and the Guarantor hereby accepts all duties and obligations
of the Insured under the Insurance Policy (the "DELEGATED OBLIGATIONS"),
EXCLUDING, HOWEVER, any obligation (i) to apply for the Insurance Policy; (ii)
related to the submission of a Claim pursuant to Section 7.1(a) of the Insurance
Policy; (iii) not to disclose the details of the Insurance Policy, as provided
for in Section 8.7 of the Insurance Policy; (iv) not to cause an exclusion under
Article V of the Insurance Policy, insofar as such exclusion would result from
an act or omission by the Insured; (v) related to limitations on the assignment,
amendment or waiver of the Insurance Policy or any provision thereunder, as
provided for in Sections 8.2 and 8.4 of the Insurance Policy; and (vi) to
maintain and allow the examination of any records related to the Insurance
Policy, as provided for in Section 8.9 of the Insurance Policy. The Insured
agrees not to take any action, or omit to take any action, that might result in
the cancellation of the Insurance Policy without the express written approval of
the Issuer and the Guarantor. In the event that the Insured takes any action, or
omits to take any action, that might result in the cancellation of the Insurance
Policy, the Insured agrees to undertake to replace the Insurer and the Insurance
Policy with another policy providing equal benefits. The Insured shall bear the
additional fees and expenses associated with this replacement.

          The Underwriter hereby agrees to accept performance by each of the
Issuer and the Guarantor of the duties and obligations of the Insured under the
Insurance Policy as provided for herein. The Underwriter hereby acknowledges
that the information contained in the Application for Insurance has been
provided to the Insured by each of the Issuer and the Guarantor.

4.   ACCEPTANCE OF TERMS AND CONDITIONS OF THE INSURANCE POLICY.

     The Parties hereby acknowledge that the Insurance Policy has certain terms
and conditions that refer to the Guarantor and the Issuer and the compliance by
the Guarantor and the Issuer with certain terms and conditions of the Insurance
Policy. The Guarantor and the Issuer hereby independently agree to perform and
comply with all such terms and conditions in the Insurance Policy that call for
or require any such compliance or performance by the Guarantor and the Issuer.
The Parties hereby acknowledge and agree that the failure to comply or perform
any such terms and conditions of the Insurance Policy may result in, among other
consequences, the breach of this Agreement and the cancellation of the Insurance
Policy or an exclusion of a Claim thereunder.

     The Guarantor and the Issuer hereby agree to and accept all the terms and
conditions of the Insurance Policy, including but not limited to all duties and
obligations which have been expressly referred to as duties and obligations on
the Guarantor and the Issuer thereunder, which duties and obligations it hereby
agrees to perform.

                                                                         3 of 10
<Page>

5.   ASSIGNMENT, SUBROGATION AND PAYMENT.

          (a)  Contemporaneous with any Compensation payment under the Insurance
Policy, in addition to any assignments required under Section 7.4 of the
Insurance Policy and subject to the limitation that any such assignment by the
Insured and the Guarantor shall not be in an amount greater than the amount of
Compensation payable by the Underwriter, the Issuer, the Guarantor or the Issuer
shall assign to the Underwriter, and the Underwriter shall be subrogated to, all
of the Issuer's and the Guarantor's rights under the Transaction Documents in
respect of the Loss for which the Compensation is to be paid and all of the
Issuer's and the Guarantor's rights of recovery against any person or
organization in respect of the Loss. The above assignment and subrogation shall
be made in proportion to the amount of Loss for which Compensation is to be
paid. All such assignments shall be free and clear of all claims, defenses,
counterclaims, rights of setoff and other encumbrances, except for those
defenses relating to the Political Risk Event. Notwithstanding any payments made
to the Noteholders from the Reserve Account in connection with an Unfunded
Insured Payment, the Guarantor and/or the Issuer shall not be released from its
obligation to make Insured Payments (or any part thereof) that are the subject
of a Claim. The Guarantor and the Issuer shall execute and deliver all
instruments and documents and do whatever is necessary to secure such rights for
the Underwriter. The Guarantor and the Issuer shall do nothing to materially
prejudice the Underwriter's rights.

          (b)  In connection with a Claim under Currency Inconvertibility, as a
condition for any Compensation payment, in addition to the assignments required
in 5(a) above, but only to the extent that the Insurer has not otherwise taken
assignments of the right to receive funds in accordance with the terms of
Section 5(a) or has otherwise received funds in respect of any Compensation
paid, the Guarantor and/or the Issuer shall, if required by the Underwriter,
assign and deliver to the Underwriter, by draft, subject to collection, or, at
the Underwriter's option, in cash, the inconvertible Local Currency (the amount
of which shall be determined by reference to the Reference Rate of Exchange on
the Date of Loss) or nontransferable Policy Currency that is the subject of the
Claim. If the Guarantor and/or the Issuer is unable legally to deliver such
currency to the Underwriter, then, in addition to the assignment requirements of
Section 5(a) above, the Guarantor and/or the Issuer shall assign to the
Underwriter right, title and interest in such currency. The Insured, the
Guarantor, or the Issuer shall not be required to assign to the Underwriter an
amount of Local Currency or Policy Currency greater than the amount of
Compensation payable by the Underwriter.

6.   INDEMNIFICATIONS.

     The Guarantor and the Issuer agree to indemnify and hold harmless the
Noteholders and the Insured and any of its directors, officers, agents or
employees (each such indemnified person, an "INDEMNIFIED PARTY") from and
against any and all liabilities, obligations, losses, damages, penalties,
judgments, costs, expenses or disbursements of any kind whatsoever that may be
imposed on or incurred by, or asserted against, such Indemnified Party in any
way relating to or arising out of (i) any action taken or omitted to be taken by
such Indemnified Party under this Agreement or the Insurance Policy (including,
without limitation, any action taken or omitted to be taken before the date
hereof by such Indemnified Party in preparation for acting thereunder), or (ii)
any action taken or omitted to be taken by the Guarantor and the Issuer under
this Agreement or the Insurance Policy, PROVIDED that the Guarantor and the
Issuer shall not be liable for any portion of any such amount resulting from (i)
the gross negligence or willful misconduct of such Indemnified Party, or (ii) an
exclusion by the Underwriter under Article V of the Insurance Policy which is
caused by the Indemnified Party. This section shall survive the termination of
the Insurance Policy and this Agreement or the resignation or removal of the
Insured.

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7.   ENTIRE AGREEMENT; AMENDMENT.

     This Agreement constitutes the entire agreement among the Parties with
respect to the matters contemplated herein and supersedes all prior oral and
written agreements, memoranda, understandings and undertakings between the
Parties relating to the subject matter of this Agreement. This Agreement shall
not alter the terms of the Insurance Policy, and to the extent that provisions
of this Agreement are in conflict or inconsistent with the provisions of the
Insurance Policy, the provisions of the Insurance Policy shall govern. This
Agreement or any provision hereof may not be modified, amended, altered or
supplemented except by a written instrument executed and delivered by each of
the Parties.

8.   SEVERABILITY.

     If any provision of this Agreement shall be declared illegal, invalid or
unenforceable in any jurisdiction, then such provision shall be deemed to be
severable from this Agreement (to the extent permitted by law), and in any event
such illegality, invalidity or unenforceability shall not affect the remainder
hereof.

9.   NOTICES.

     All communications and notices to be given hereunder shall be in English
and shall be made in writing sent by courier or delivered by hand or facsimile
with receipt acknowledged. Such communications and notices shall be sent to the
addresses and to the attention of the persons specified below, or to such other
address or to the attention of such other person as any of the Parties shall
notify to the other Party or Parties, as the case may be.

     If to the Insured:

          The Bank of New York
          101 Barclay Street, 21W
          New York, New York 10286
          Attention: Global Finance Unit
          Telephone: (212) 328-7529
          Facsimile: (212) 328-7318

     If to the Guarantor:

          Companhia de Bebidas das Americas
          Centro Empresarial de Sao Paulo
          Avenida Maria Coelho Aguiar, 215 Bloco F
          6 andar
          05804-900 Sao Paulo, S.P.
          Brazil
          Telephone: (55 11) 3741-3458
          Facsimile: (55 11) 5686-7129
          Attention: Patricia Capel Martins

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     If to the Issuer:

          Companhia Brasileira de Bebidas CBB
          Centro Empresarial de Sao Paulo
          Avenida Maria Coelho Aguiar, 215 Bloco F
          6 andar
          05804-900 Sao Paulo, S.P.
          Brazil
          Telephone: (55 11) 3741-3458
          Facsimile: (55 11) 5686-7129
          Attention: Patricia Capel Martins

     If to the Underwriter:

          Steadfast Insurance Company
          c/o Zurich Emerging Markets Solutions
          1201 F Street, N.W., Suite 250
          Washington, D.C. 20004
          Telephone: (202) 585-3100
          Facsimile: (202) 628-2216
          Attention: Daniel Riordan

     Copies of all notices given hereunder shall be delivered by the Guarantor,
immediately following such delivery or receipt by the Guarantor, to Moody's
Investor Services, Standard & Poor's, and Fitch at their respective addresses
below:

          Moody's Investor Services
          99 Church Street
          New York, New York 10007

          Attention: Latin American ABS Monitoring

          Standard & Poor's
          55 Water Street
          New York, New York 10041
          Attention: Diane Audino
          Latin American Structured Finance

          Fitch, Inc.
          One State Street Plaza
          New York, NY 10004
          Attention: Juan Lazcano
          International Structured Finance

     All notices or other communications given hereunder shall be deemed to be
effective when actually received. All communications and notices relating to the
Guarantor's rights and obligations under the Insurance Policy, including but not
limited to the Delegated Obligations, shall be given to the Guarantor as
specified in this Section 9. In addition, the Underwriter shall provide copies
to the Guarantor of all communications and notices sent to the Insured under the
Insurance Policy, when such communications and notices are made.

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10.  COUNTERPARTS.

     This Agreement may be executed in one or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and
the same instrument.

11.  SURVIVAL RIGHTS.

     This Agreement shall be binding upon and inure to the benefit of the
Parties and their respective legal representatives, successors, transferees and
assigns.

12.  CHOICE OF LAW.

     Any issue relating to the construction, validity or performance of this
Agreement shall be governed by, read and construed in accordance with the laws
of the State of New York, in the United States of America.

13.  DISPUTES AND ARBITRATION.

          (a)  Any dispute, controversy or claim arising out of, relating to, or
     in connection with this Agreement shall be finally settled by arbitration.
     The arbitration shall be conducted in accordance with the International
     Rules of the American Arbitration Association in effect at the time of the
     arbitration. The seat of the arbitration shall be New York, New York,
     United States of America, and shall be conducted in English.

          (b)  The arbitration shall be conducted by three arbitrators. The
     claimant initiating the arbitration shall appoint an arbitrator in its
     initial request for arbitration. The respondent shall appoint an arbitrator
     and so notify the claimant in writing within 45 days of its receipt of the
     request for arbitration. The first two arbitrators appointed in accordance
     with this provision shall appoint a third arbitrator within 45 days after
     the respondent has notified the claimant of the appointment of its
     arbitrator. The third arbitrator shall serve as chairperson of the
     arbitration.

          (c)  The arbitral award shall be in writing, state the reasons for the
     award, and be final and binding on the Parties. Judgment upon the award may
     be entered by any court having jurisdiction over the relevant party or
     asset.

14.  MODIFICATIONS TO TRANSACTION DOCUMENTS

          The Insured, the Issuer and the Guarantor shall not materially modify
the Transaction Documents (including, but not limited to, modifying the
repayment terms of the Insured Notes), without the prior written consent of the
Underwriter (which consent shall not be withheld unreasonably), except such
modifications and amendments which (i) do not change materially the
Underwriter's rights and obligations, (ii) do not change materially any rights
and obligations to which the Underwriter may be subrogated to in the event of a
Claim, or (iii) do not change materially the risk to which the Insured is
exposed and that are covered under the Insurance Policy.

15.  CONCERNING THE INSURED

          (a)  This Agreement is entered into by the Insured, acting not
     individually or personally, but solely as Trustee under the Indenture, in
     the exercise of the powers and authority conferred on and vested in the
     Trustee under the Indenture.

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          (b)  The undertakings and agreements herein made on the part of the
     Insured are made and intended not as personal undertakings and agreements
     by the Insured, but are made and intended for the purpose of binding only
     the property held in trust pursuant to the Indenture.

          (c)  Nothing herein contained shall be construed as creating any
     liability on the Insured, individually or personally, to perform any
     covenant either expressed or implied herein, all such liability, if any,
     being expressly waived by the Parties and by any person claiming by, or
     through, or under such Party.

          (d)  Under no circumstances shall the Insured be personally liable to
     the Underwriter for the payment of any indebtedness or expenses of the
     Issuer or the Guarantor or be liable to the Underwriter for the breach or
     failure of any obligation or covenant made or undertaken by the Insured
     hereunder.

16.  EXECUTION IN COUNTERPARTS

     This Agreement and each amendment, waiver and consent with respect hereto
may be executed in any number of counterparts and by different Parties thereto
in separate counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute one and the same
agreement. Delivery of an executed counterpart of a signature page to this
Agreement by telecopier shall be effective as delivery of an original executed
counterpart of this Agreement.

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     IN WITNESS WHEREOF, this Agreement has been duly executed and delivered by
the duly authorized officers of the Parties as of the date first above written.

                                     THE BANK OF NEW YORK, not in its individual
                                     capacity, but solely as indenture trustee

                                     By:
                                         ---------------------------------------
                                     Name:
                                           -------------------------------------
                                     Title:
                                            ------------------------------------

                                     COMPANHIA DE BEBIDAS DAS AMERICAS

                                     By:
                                         ---------------------------------------
                                     Name:
                                           -------------------------------------
                                     Title:
                                            ------------------------------------

                                     By:
                                         ---------------------------------------
                                     Name:
                                           -------------------------------------
                                     Title:
                                            ------------------------------------

                                     COMPANHIA BRASILEIRA DE BEBIDAS CBB

                                     By:
                                         ---------------------------------------
                                     Name:
                                           -------------------------------------
                                     Title:
                                            ------------------------------------

                                     By:
                                         ---------------------------------------
                                     Name:
                                           -------------------------------------
                                     Title:
                                            ------------------------------------

                                     STEADFAST INSURANCE COMPANY

                                     By:
                                         ---------------------------------------
                                     Name:       Daniel W. Riordan
                                           -------------------------------------

                                     Title:      Vice President
                                            ------------------------------------

WITNESSES:

1.
     -----------------------
     Name:

2.
     -----------------------
     Name:

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STATE OF ________________ )
                          )      ss:
COUNTY OF _______________ )

     On this ____ day of December, 2001 before me, a notary public within and
for said county, personally appeared Daniel W. Riordan, to me personally known
who being duly sworn, did say that he is a Vice-President, of Steadfast
Insurance Company, one of the persons described in and which executed the
foregoing instrument, and acknowledges said instrument to be the free act and
deed of said corporation.

     On this ____ day of December, 2001, before me personally came
___________________ and _____________________to me personally known, who being
by me sworn, did depose and say that they signed their names to the foregoing
instrument as witnesses.

                                     --------------------------
                                     Notary Public
                                     COMMISSION EXPIRES

[Notarial Seal]

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Exhibit 10.9    
  

EMPLOYMENT OFFER  

April 25,
2002 

Sandeep
Pombra 

Subject:
Employment Offer 

Dear
Sandeep, 

I
am pleased to offer you employment as CTO, Echo and DSP Network Products, reporting directly to me. This offer is contingent upon the approval of Ditech's Board of Directors—Compensation
Committee. 

Your
compensation package consists of the following: 

	•
	Annual
Base salary of $180,000.

	•
	Eligibility
for a Management Bonus of up to $45,000. The bonus is broken down as follows: 

	•
	$20,000
based on attainment of corporate performance objectives. There will be no payment made for FY 03 corporate performance.

	•
	$25,000
based on attainment of individual performance objectives. The Management Bonus program in general, and your bonus in particular, are subject to
change, including elimination of the program, at the sole discretion of the Company. Bonus will be earned and paid pro-rata at the end of each fiscal quarter. This bonus will be guaranteed
for the first year of your employment only. Payment will be made pro-rata over the year and paid on the fiscal quarters. You must be employed by Ditech as an active employee on the last
day of said quarter in order to earn a bonus for that quarter. 

Subject
to the approval of the Company's Board of Directors or its Compensation Committee, you will be granted stock options to purchase 150,000 shares of the Company's Common Stock. The exercise
price per share will be equal to the fair market value per share on the date the option is approved by Ditech's Board of Directors. The option will be subject to the terms and conditions applicable to
options granted under Ditech's 2000 Non-Qualified Stock Plan, as described in that Plan and the applicable stock option agreement. The option will be immediately exercisable and are
Non-qualified options. The purchased shares will be subject to repurchase by the Company at the exercise price in the event that your service terminates before you vest in the shares.
Vesting breakdown is as follows: 

	•
	For
the first 100,000 shares, you will vest in 25% of the option shares after 12 months of continuous service and the balance will vest in monthly
installments over the next 36 months

	•
	50,000
shares are targeted on specific goals/milestone completion. The option would vest up to 25,000 shares per year if the milestones for each year are
fully achieved. Further details would be provided in your stock option agreement. 

The
company will employ you on an "at will" basis, described below. However, if the company terminates your employment for any reason other than cause during your first year of service only, then the
Company will continue to pay your base salary for six months from the notification of intent to separate. "Cause" means (i) gross negligence or willful misconduct in the performance of your
duties; (ii) failure to perform your duties, after reasonable notice and opportunity to cure any such failure; (iii) commission of any act of fraud; or (iv) conviction of a felony
or a crime involving moral turpitude causing actual or potential harm to the business of the company. This severance benefit will be in lieu of any other severance policy of general application to
company employees. After the first year, you will only be entitled to severance under any severance policy of general application, if any. The same salary continuation period will be credited as
continuous service for purposes of the stock options described. However, the maximum vesting continuation is capped at one year from start date and the minimum vesting continuation is up to one year
from date of hire. The applicability of this is described 

above, based on termination of employment for any reason other than cause (see definition of "cause" above), and applicable to your first year of service only. This paragraph will not apply unless
you (a) have executed a general release (in a form prescribed by the Company) of all known and unknown claims that you may then have against the Company or persons affiliated with the Company
and (b) have agreed not to prosecute any legal action for other proceedings based on those claims. This paragraph is subject to Board approval. The normal exercise period for stock options
pursuant to the plan is 90 days from date of termination. 

Executive
compensation is reviewed at the beginning of our fiscal year on May 1st. 

Your
benefit package with Ditech Communications Corporation will include Health insurance coverage (with partial premium due if for family coverage) beginning the first of the month after date of
employment, Life and Long Term Disability insurance with option for additional coverage, Flexible Spending Program participation, Employee Stock Purchase Program (ESPP) and 401(k) participation.
Eligibility for 401(k) is effective after 90 days of employment. ESPP contribution period begins June 1, 2002. 

Your
employment with Ditech Communications Corporation is at-will. This means that either you or the company may terminate the employment relationship at any time, with or without cause,
and with or without prior notice. This at-will provision is only subject to change in a writing signed by the CEO of the company. You will be asked to sign the statement of your acceptance
and a confidentiality agreement when you report to work. 

This
offer letter constitutes the entire terms of the offer of employment with the company, and supersedes all prior negotiations and agreements, whether written or oral, relating to the subject
matter of the offer. 

I
look forward to working with you and having you as a part of our valuable and dynamic team! Please indicate your acceptance by signing and returning this letter by April 30, 2002. You may fax
your acceptance to (650) 564-9593. We anticipate your start to begin May 7, 2002. 

	Sincerely,	 	Accepted by:	 	 
	

    	
 	

 	
 	

 
	

    /s/  TIMOTHY K. MONTGOMERY      
 Timothy K. Montgomery

President and CEO	
 	

    /s/  SANDEEP POMBRA      
 Sandeep Pombra	
 	

April 30, 2002
 Date

QuickLinks

Exhibit 10.9

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