DEFERRED SALARY AGREEMENT
THIS DEFERRED SALARY AGREEMENT is made as of the 31st day of March, 2004 by and between
ANTs software inc., a Delaware corporation (the "Company"), and the undersigned employee ("Employee").
THE PARTIES HERETO AGREE AS FOLLOWS:
1. Deferred Salary. In consideration of (i) the continued employment of Employee with the Company, (ii) certain
stock option grants and (iii) the Company's other promises and undertakings contained in this Agreement, the
receipt and sufficiency of which are hereby acknowledged by Employee, Employee acknowledges and agrees as
1.1. It is agreed by the parties that, as of March 1, 2004 all accrued and unpaid deferred salary of Employee
totaled One Hundred Thirty Three Thousand Seven Hundred Forty Nine dollars and Ninety Three cents
($133,749.93) (the "Deferred Salary").
1.2 The Company shall pay Employee the Deferred Salary by April 15, 2004.
1.3. Employee acknowledges and agrees that as of March 1, 2004 Employee's salary was set at Two Hundred
Thousand dollars ($200,000) per annum, subject to the Company's state federal and other withholding
obligations, payable semi-monthly, and that Employee's salary shall remain at this level until mutual agreement by
and between the Employee and the Company.
2. Stock Options. In partial consideration for the agreements set forth herein, the Company granted the
Employee certain stock options including a stock option to purchase up to 20,000 shares of Common Stock of
the Company under the Company's 2000 Stock Option Plan, subject to following vesting schedule: Fifty percent
(50%) of the shares shall vest on February 28, 2004 and Fifty percent (50%) of the shares shall vest on March
31, 2004, such that One Hundred Percent (100%) of shares are vested on March 31, 2004.
3. General Release. In exchange for the consideration provided in this Agreement, and except for the obligation
acknowledged herein, the adequacy of which is hereby acknowledged, Employee, on behalf of himself or