1. ABC CORP Board of Directors Meeting [date] [insert company logo]

2. Start 08:30 Welcome 08:35 – 08:40 January 26 Board Mtg. Summary & Actions[CEO]05 min. 08:40 – 08:50 Corporate & Administrative Update[CEO]10 min. 08:50 – 09:00 Sales & Business Development, Pipeline Q1 & Q2[VP Sales]10 min. 09:00 – 09:10 C5 Marketing, Product Management, Alliances[VP Mktg]10 min. 09:10 – 09:20 C5 Development Status[VP Prod Dvpmt]10 min. 09:20 – 09:30 CTO – Patents, Product Differentiators, Roadmap[CTO]10 min. 09:30 – 10:15 Finance, Operations, FY05 Business Model, Capital[CEO]/[CFO]45 min. 10:15 – 10:30 Action Items, Comp Committee, CEO Discussion[CEO]15 min. ABC CORP Board of Directors Meeting [date] - Agenda Insert logo Insert web address

3.  FY 2005 Business Model Review ($5.5M Rev Target)  Q4 Customer Wins  Q1 Sales Pipeline (Q1 Bookings Target $865k)  Marketing Investments in Q1 (approved accelerating marketing expense in Q1)  Cisco Partnership (Network Access Control)  Juniper Partnership  Patent status – Competitive Update and Situation  FY 2005 Expense Management Plan  Capital requirements (March funding requirements) Insert web address Insert logo 26 January Board of Directors Meeting Summary & Actions

4.  Motion to approve the Minutes from 26 January Board Meeting  Signed [x Party] License Agreement  Discussion with [Potential Client/Insert Name] 28 February – Next step briefing with Corp. Dev Team  Compensation Committee – Follow up to FY 2005 Employee Bonus Program & Executive Compensation  Next Funding Round – Timing & Terms Insert web address Insert logo Corporate & Administrative Action Items & Overview

5. [Insert Name] – VP Sales [date] Insert web address Insert logo [insert company logo]

6. Q1 Bookings Target: $865k ($22K Closed) Q1 Tracking: $1.9M Strategic Opportunities: [___] + ($445k), [___] ($1.1M), [___] ($365k) Insert web address Insert logo FY 2005 Q1 Sales Sales Tracking Summary

7. Q2 Bookings Target: $1,261M Q2 Tracking: $5M Q2 Pipeline Q2 Weighted Amount: $615k Strategic Opportunities: [___] ($200k), [___] ($200k), [___] ($200k) Insert web address Insert logo FY 2005 Q2 Sales Sales Tracking Summary

8. Insert web address Insert logo FY 2005 Q2 Sales Sales Tracking Summary

9. [Insert Name] – VP Marketing: Product Management: Alliances [date] Insert web address Insert logo [insert company logo]

10.  New whitepapers, datasheets, web site, flash demo, ppt template & content, web lead complete!  Proposed product naming convention: product family + product name = [____]  Speaking Events:  Media/Analysts/Awards – Beginning to see the results  Interviews with 15+ reporters/editors, and 10+ analysts in the last 4 weeks  Beginning to get coverage online and in print  Entered eWeek Excellence Award (finalists to be announced in 2/28 issue) Insert web address Insert logo Marketing

11.  Focus is on enhancements required for customer adoption and success  No one offs; near term focus is on better usability & manageability  Driving us to be able to better support a software only distribution in the future  Bertha items delayed except for where it aligns with customer requests  Current plans for new products  C5 NDC – outsourced till completion with delayed payment terms  C5 NQC - Cisco Edition – requires resources to be applied and lab certification  C5 NAP – Prof/Enterprise Editions – requires resources to be applied  C5 xxx Juniper Edition – requires resources to be applied  Juniper – working on implementing additional prototypes, and prepping for the next meeting  Sun – preferred status as ISV supporting Solaris 10; receiving “free” equipment  Alterpoint – development in progress; sales teaming in progress  IBM – met with Linux rep again; engaged to receive introduction to US MSP sponsor  MSFT – Met biz development manager for the security unit (Piyush)  Working to set up an ½ discussion on potential technology alliances that might make commercial sense for us  Also receiving warm referral into CVP (Mike Nash) of the Security Business & Technology Unit (SBTU) Insert web address Insert logo Product Management and Alliances

12.  [Competitor]  [Competitor] – New executive hire  Announced similar solution  [Competitor] – New products  [_______] Jan 2005 Feb 2005 Insert web address Insert logo Source: [_____] Insert challengers/leaders/niche players/visionaries chart Competitive Update – [date]

13. [Insert Name] – Sr. Director of Development [date] Insert web address Insert logo [insert company logo]

14. Deployment Status: Upcoming Significant Events: Insert web address Insert logo Deployments, Demonstrations and Their Impact

15. Insert web address Insert logo [Insert Name] – Chief Technology Officer [date] [insert company logo]

16.  Accelerators  Continuing scope and schedule impact  Prioritizing based on customer demand and integration need  Concerns/Risks:  Current customer demands impacting resources  Delayed integration  Accelerators delayed until customer demands met  Strategic Partnerships  [Name] implementation beyond prototype Insert web address Insert logo Activity Status Closely Monitoring Areas of Concern & Risk

17.  Competitor Status:  [Competitor Name]  Adding additional Demos [other competitive updates] Insert web address Insert logo Activity & Status Intellectual Property & Technology

18. [Insert Description of Product Goals/Road Map] Insert web address Insert logo Technical Advantages & Roadmap…

19. Insert web address Insert logo [Insert Name] – CFO/COO [date] [insert company logo]

20. January Income Statement - Budget vs. Actual Insert web address Insert logo

21. Balance Sheet Insert logo

22. January & February Variances: $ Incentive Compensation – savings due to large deals being pushed back to later months $Technical Salaries – resources are lower in February than expected by 1.5 FTE’s $Legal Fees – overage due to filing of trademark applications in Asia countries Insert web address Insert logo Variances – January & February

23. Bookings to Date/Revenue Recognition Discussion CustomerDateTotalItem Total bookings since December, 2004 are: $_____. Cash Collection for Q1 Customers is $_____ to date Insert web address Insert logo

24. Revenue – 2005 Forecasted Insert web address Insert logo

25. Bookings Insert web address Insert logo

26. Actual headcount in black box (forecasted consultants are 1 FT to PT hourly employee for administrative help, 1 Quota Carrying Sales Consultant [Asia], and one DB developer) Headcount & Projection - 2005 Insert web address Insert logo

27. GroupDecember (actual) January (actual) February (actual) March (projected) April (projected) May (projected) Executive Technical Admin. Sales & Marketing Total Insert web address Insert logo FTE’s by Functional Area

28.  Actual cash in black box Insert web address Insert logo Cash and Projections - 2005 [Insert Chart]

29. Current Projected Cash Flow as of 2/28/2005 Projections Insert web address Insert logo

30. Based on the current monthly cash burn, visibility into bookings and revenue in Q1 additional funding is required during March. Insert web address Insert logo Capital Requirements & B-Round Timing…

31. Option Grants Exercise Price = $0.___/share Total Option Pool = _______ (as of 2/28/2005) Insert web address Insert logo

32. Capitalization Table as of 2/28/2005 Insert web address Insert logo

33.  Summary  Action Items  Compensation Committee  Employee Bonus Program  Executive Compensation  Executive Agreements  CEO Discussion  Board Executive Session  Future Board Meeting Schedule Insert web address Insert logo Summary & Closing Remarks Action Items – CEO Discussion - Schedule