EXECUTIVE EMPLOYMENT AGREEMENT Effective May 8 , 2008 (this " Agreement ")

1.

Interpretation

(a)

“ Affiliate ” means an affiliated entity and as defined in Ontario Securities Commission Rule 45-501 and “controlled” has the meaning given in that Rule, as amended or replaced from time to time, and “affiliated” has a corresponding meaning.

(b)

“ Base Grant ” has the meaning set out in Section 3.4.

(c)

“ Board ” means the board of directors of Corel Corporation.

(d)

“ EBITDA ” has the meaning set out in Section 3.2 .

(e)

“Plan” means the 2006 Corel Corporation Equity Plan as amended from time to time.

(f)

“ Salary ” has the meaning set out in Section 3.1.

(g)

“ Shares ” means Class A common shares of the Corporation.

(h)

“ Term ” means the period from the Start Date to the Termination Date.

(i)

“ Termination Date ” means the date set out in Section 2.1 and is the Executive’s last day of active employment and does not include any period of statutory or reasonable

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notice or any period of deemed employment and “terminate” and “terminated” have corresponding meanings.

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2.5

Third Party Obligations. The Executive represents and warrants that he honestly and reasonably believes after proper enquiry, that his obligations under this Agreement will not breach any obligations the Executive owes to third parties, including any of the Executive’s former employers and the Executive represents and warrants that he has provided to the Corporation all documents, agreements and correspondence relating to any such obligations and that at the date hereof, he is not aware of any claims or threatened claims that he has breached any such obligations in connection with his obligations under this Agreement.

3.

Compensation

3.1

Base Salary. The Corporation agrees to pay the Executive an annual base salary of US $600,000.00, payable in accordance with the Corporation’s payroll practices in effect from time to time, subject to annual review and to increase as determined by the Board (“ Salary ”).

3.2

Discretionary Bonus. The Executive will be eligible to participate in the Corporation’s annual bonus plan with a target bonus of $400,000 of Salary for the achievement of all targets. Any bonus payment is subject to achievement by the Executive of the performance targets established by the Board. The Executive’s bonus targets, linearity and acceleration will be consistent with those established for other executives of the Corporation. Currently, the performance targets are based on a combination of revenue targets and target earnings before interest, tax, depreciation and amortization (“ EBITDA ”). To be eligible for the bonus payment, the Executive must have been actively employed throughout the fiscal year in respect of which his performance was assessed, unless provided otherwise in this Agreement. Notwithstanding the above, the Executive’s bonus for the period from the Start Date to August 31, 2008 will be paid out at the 100% payout level.

3.3

Share Based Compensation Plan Participation. The Executive will be eligible to participate in the Plan and such other share based incentive plans or similar plans as may be established for senior executives by the Corporation. All options granted to the Executive are governed by the terms and conditions of the Plan, including any restrictions on exercise of options and any requirements to agree to conditions, restrictions or agreements set out in the Plan, except as expressly provided otherwise in this Agreement.

3.4

Grant of Options. On the Start Date, the Corporation will grant to the Executive options to acquire 326,760 Shares (equivalent to 1.25% of the Company ) of Corel Corporation (the “ Base Grant ”), subject to the terms and conditions set out in this Agreement and the Plan. The Base Grant of options will have an exercise price of equal to fair market value as at the Start Date. The Base Grant of options will be exercisable as to 8.33% on and after the end of each month after the Start Date.

3.5

Payments for Distributions on Base Grant of Options. If dividends or other distributions are paid on Shares of the Corporation at a time when the Executive holds unexercised options under the Base Grant of options, the Corporation will provide the Executive with a payment equivalent to distributions the Executive would have been eligible to receive had the Base Grant of options been exercised.

4.

Expenses, Benefits and Vacation

4.1

General Expenses. The Corporation will reimburse the Executive for his reasonable and approved business expenses, including travel expenses, incurred by him in connection with the performance of his duties under this Agreement, upon providing appropriate receipts

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satisfactory to the Corporation and in accordance with the Corporation’s policies in effect from time to time.

4.2

Benefit Plans. The Executive will be eligible to participate in the group benefit plans available to employees of the Corporation from time to time, subject to Section 1.4. To the extent permitted by the insurers, the Corporation will request the waiver of the waiting periods for participating in the benefit plans, subject to the Executive’s pre-existing conditions.