Offer Letter Dated Jan. 31, 1997 To Sergio Giacoletto And Employment Agreement

Exhibit 10.27

ORACLE (Suisse)

Davos, January 31 1997 Mr. Sergio Giacoletto

Dear Sergio,

I am delighted to offer you the position of Vice - President Alliances in Oracle E.M.E.A. You will be based in Geneva, employed by Oracle Switzerland. We may create a separate entity from Oracle Switzerland to cover the EMEA activities. In that case your employment will be transferred to the new entity under the identical conditions of this offer.

The conditions of your employment are as follows:

On Target Earning : your annual base salary will be Sfr. 300' 000.00 paid in 13 months. Your incentive will be Sfr. 180' 000.00 at target based on an agreed yearly plan. Up to May 31 1997, you will be paid at your monthly 100% O.T.E. Medical, illness, disability and pension plan: You will receive the same conditions as per your actual employer and the same insurance company. You will provide to the Suisse Human Resources department a copy of your coverages and the contact of Mr. Grandchamp to formalize the coverage. Car allowance: You will be provided with the same conditions you have with your existing employer Stock options: We will request to the Board of Directors of Oracle to grant you 15000 shares according to standard rules and regulations of the company.

Letter to Sergio Giacoletto page 2

Your starting date will be March 1 1997.

It is a great pleasure and honor for me to work again with you to build a strong Oracle EMEA. I look forward to receive back a copy of this letter in sign of agreement.

Enjoy your vacations and thanks for your trust.

Best regards,

/s/ Pier Carlo Falotti Pier Carlo Falotti


EMPLOYMENT AGREEMENT

concluded between

ORACLE Software (Switzerland) Ltd. Oracle House, Te4fernstrasse 4

5405 Baden-De4ttwil

(hereinafter referred to as the " company" ) and

Mr Sergio Giacoletto

(hereinafter referred to as the " employee" )

February 20 th , 1997


The employee shall assume the position of Vice President Alliances, EMEA (100%) under the following terms and conditions:

Direct report: Senior Vice President EMEA Place of work: Geneva Starting date: March 1 st , 1997

Probationary Period

The first three months of employment are on a probationary basis. During this period, either party may terminate this agreement by giving an advance notice of one week. Notice Period for Termination

During the first year of employment the notice period for termination is one month , as of the second year of employment it is three months both as per the end of a month. The notice periods apply mutually. Employee' s Obligations

The employee shall carefully perform the work assigned to him/her and loyally safeguard the company' s legitimate interests.

During the employment the employee is not permitted to enter, into activities active compete with the company' s business. Business and trade secrets shall not be disclosed or used otherwise by the employee without the company' s express consent. Working Hours

The minimum working hours for full time-employees are 40 hours per week. For employees in a part time position the working hours are reduced in relation to their percentage of employment. However, the company expects its employees to complete their assignments in accordance with ORACLE' s high quality ...