X0202 4 2007-01-15 1 0000894743 NEOWARE INC NWRE 0001236825 KANTROWITZ MICHAEL G C/O NEOWARE, INC. 3200 HORIZON DRIVE KING OF PRUSSIA PA 19406 1 0 0 0 Employee Stock Option (Right to Buy) 11.15 2007-01-15 4 D 0 50000 D 2007-12-31 Common Stock 50000 0 D Employee Stock Option (Right to Buy) 11.15 2007-01-15 4 A 0 50000 A 2007-12-31 Common Stock 50000 50000 D Employee Stock Option (Right to Buy) 9.26 2007-01-15 4 D 0 100000 D 2007-12-31 Common Stock 100000 0 D Employee Stock Option (Right to Buy) 9.26 2007-01-15 4 A 0 100000 A 2007-12-31 Common Stock 100000 100000 D Employee Stock Option (Right to Buy) 16.41 2007-01-15 4 D 0 50000 D 2008-01-15 Common Stock 50000 0 D Employee Stock Option (Right to Buy) 16.41 2007-01-15 4 A 0 50000 A 2008-01-15 Common Stock 50000 50000 D Employee Stock Option (Right to Buy) 14.55 2007-01-15 4 D 0 100000 D 2008-01-15 Common Stock 100000 0 D Employee Stock Option (Right to Buy) 14.55 2007-01-15 4 A 0 100000 A 2008-01-15 Common Stock 100000 100000 D Pursuant to a Termination and Service Agreement dated September 30, 2006, as amended on December 28, 2006, these outstanding options were amended to become vested on January 15, 2007 and the expiration dates of such options were extended until December 31, 2007. Pursuant to a Termination and Service Agreement dated September 30, 2006, as amended on December 28, 2006, these outstanding options were amended to become vested on January 15, 2007 and the expiration dates of such options were extended until January 15, 2008. The reported transactions involved the amendment of outstanding options, resulting in the deemed cancellation of the ?old? options and the grant of replacement options. The options previously were to vest in equal annual installments of 25% over four years beginning on their dates of grant and to expire three months after termination of the reporting person's employment with the issuer. Don Joseph, Attorney-In-Fact for Michael G. Kantrowitz 2007-01-16