<SUBMISSION>
<ACCESSION-NUMBER>0000950133-06-000589
<TYPE>S-3/A
<PUBLIC-DOCUMENT-COUNT>4
<FILING-DATE>20060210
<DATE-OF-FILING-DATE-CHANGE>20060210
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ACE COMM CORP
<CIK>0001017526
<ASSIGNED-SIC>7373
<IRS-NUMBER>521283030
<STATE-OF-INCORPORATION>MD
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>S-3/A
<ACT>33
<FILE-NUMBER>333-129029
<FILM-NUMBER>06596621
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>704 QUINCE ORCHARD RD
<CITY>GAITHERBURG
<STATE>MD
<ZIP>20878
<PHONE>3012589850
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>704 QUINCE ORCHARD ROAD
<CITY>GAITHERSBERG
<STATE>MD
<ZIP>20878
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>S-3/A
<SEQUENCE>1
<FILENAME>w13610a2sv3za.htm
<DESCRIPTION>AMENDMENT NO. 2 TO FORM S-3
<TEXT>
<HTML>
<HEAD>
<TITLE>sv3za</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt">As
filed with the Securities and Exchange Commission on
February 10, 2006</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>


<DIV align="left" style="font-size: 10pt; margin-left: 75%"><B>Registration
No.&nbsp;333-129029</B>
</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>








<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>Amendment
No. 2<br>to<br>FORM S-3</B>
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>ACE*COMM CORPORATION</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its governing instrument)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Maryland</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>52-1283030</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State of Organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification Number)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>704 Quince Orchard Road<BR>
Gaithersburg, MD 20878</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">(Address of principal executive offices)
</DIV>


<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Steven R. Delmar<BR>
Chief Financial Officer<BR>
ACE*COMM Corporation<BR>
704 Quince Orchard Road<BR>
Gaithersburg, MD 20878<BR>
Tel. (301) 721-3000<BR>
Fax (301) 721-3001</B>
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Copies to:<BR>
<B>Steven Kaufman, Esq.<BR>
Hogan &#038; Hartson L.L.P.<BR>
555 13th Street, N.W.<BR>
Washington, D.C. 20004<BR>
Tel. (202) 637-5736<BR>
Fax (202) 637-5910</B>
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Approximate date of commencement of proposed sale to the public: </B>As soon as practicable
after this registration statement becomes effective.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the only securities being registered on this form are being offered pursuant to dividend or
interest reinvestment plans, please check the following box. <FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any of the securities being registered on this form are to be offered on a delayed or
continuous basis pursuant to Rule&nbsp;415 under the Securities Act of 1933, other than securities
offered only in connection with dividend or interest reinvestment plans, check the following box.
<FONT face="Wingdings">&#254;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If this form is filed to register additional securities for an offering pursuant to Rule
462(b) under the Securities Act, please check the following box and list the Securities Act
registration statement number of the earlier effective registration statement for the same
offering.<BR> <FONT face="Wingdings">&#111;</FONT> &#95;&#95;&#95;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If this form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities
Act, check the following box and list the Securities Act registration statement number of the
earlier effective registration statement for the same offering. <FONT face="Wingdings">&#111;</FONT> &#95;&#95;&#95;
</DIV>


<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
this Form is a registration statement pursuant to General Instruction
I.D. or a post-effective amendment thereto that shall become
effective upon filing with the Commission pursuant to Rule 462(e)
under the Securities Act, check the following box. <FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
this Form is a post-effective amendment to a registration
statement filed pursuant to General Instruction
I.D. filed to register additional securities or additional classes of
securities pursuant to Rule 413(b)
under the Securities Act, check the following box. <FONT face="Wingdings">&#111;</FONT>
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The registrant hereby amends this Registration Statement on such date or dates as may be
necessary to delay its effective date until the registrant shall file a further amendment which
specifically states that this Registration Statement shall thereafter become effective in
accordance with </B><B>Section 8(a)</B><B> of the Securities Act of 1933 or until the Registration Statement
shall become effective on such date as the Commission, acting pursuant to said Section&nbsp;</B><B>8(a)</B><B>, may
determine.</B>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="padding: 5px; border: 3px double #000000; font-size: 10pt; color: #FF0000">
<DIV align="left" style="font-size: 11pt">The information in this prospectus is not complete and may be changed. The selling
stockholder may not sell these securities until the registration statement relating to these
securities has been declared effective by the Securities and Exchange Commission. This prospectus
is neither an offer to sell nor a solicitation of an offer to buy these securities in any
jurisdiction where the offer or sale is unlawful.
</DIV>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SUBJECT
TO COMPLETION, DATED FEBRUARY 10, 2006</B>
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>PROSPECTUS</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>325,625 SHARES</B>
</DIV>


<DIV align="center" style="font-size: 18pt; margin-top: 18pt"><B>ACE*COMM CORPORATION</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 6pt"><B>COMMON STOCK</B>
</DIV>


<DIV align="left" style="font-size: 9pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling stockholder named in this prospectus may offer and sell up to 325,625 shares of
ACE*COMM common stock. ACE*COMM is registering the offered shares as required by the terms of an
agreement with the selling stockholder. ACE*COMM issued these shares in connection with the
Software License and Support Agreement with Service Level Corporation.
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling stockholder may
offer and sell its shares from time to time on the Nasdaq
Small-Cap Market or in private transactions at prevailing market prices or at privately negotiated
prices. The registration of the offered shares does not necessarily mean that the shares will be
offered or sold by the selling stockholder. ACE*COMM will not receive any of the proceeds from a
sale of the shares by the selling stockholder. The selling stockholder, however, is responsible
for its own brokerage commissions and similar expenses.
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="left" style="font-size: 9pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACE*COMM common stock is listed
on the Nasdaq Small-Cap Market under the symbol &#147;ACEC.&#148; On
February 8, 2006,
the closing price of ACE*COMM common stock on the Nasdaq Small-Cap
Market was $3.60 per share.
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A discussion of other registrations of shares by ACE*COMM is contained below under the caption
&#147;Other Registrations.&#148;
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 9pt; margin-top: 18pt"><B>Investing
in ACE*COMM common stock involves significant risks.</B>
</DIV>


<DIV align="center" style="font-size: 9pt; margin-top: 18pt"><B>You should carefully read and
consider the &#147;Risk Factors&#148; commencing on<BR>
page 17 of our 2005 Annual Report on Form&nbsp;10-K.</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<DIV align="left" style="font-size: 9pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Neither the Securities and Exchange Commission nor any state securities commission has
approved or disapproved of these securities or passed upon the adequacy or accuracy of this
prospectus. Any representation to the contrary is a criminal offense.</B>
</DIV>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt">The
date of this prospectus is February 10,&nbsp;2006.
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>


<P align="center" style="font-size: 10pt">- 1 -
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PROSPECTUS
SUMMARY</B>
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>The Offering</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The offering relates to the offer and sale of ACE*COMM common stock by the selling
stockholder identified in this prospectus. The selling stockholder and the specified number of
shares that it may re-sell through this prospectus are listed on page
5.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACE*COMM issued an aggregate of 325,625 shares of ACE*COMM common stock to the selling
stockholder pursuant to the terms of a Software License and Support Agreement, dated as of May&nbsp;31,
2005. The closing price of ACE*COMM common stock on May&nbsp;31, 2005 was $2.12.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The shares have not been registered under the securities laws of any state or other
jurisdiction as of the date of this prospectus. Brokers or dealers should confirm the existence of
an exemption from registration or effectuate such registration in connection with any offer and/or
sale of the shares.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>The Company</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACE*COMM provides an interoperable suite of telecommunications Network Business Integration
products and services that help telecommunications carriers and large enterprises exercise greater
control in real-time over the operations of their networks. These products and services include the
analytical tools required for customers to extract information from operating networks -
information customers can use for revenue assurance, to reduce costs, to accelerate time-to-market
for new services, and to provide more effective customer care.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our core expertise is built around our knowledge of complex and evolving telecommunications
networks and protocols, ranging from the legacy circuit-switched networks to the latest IP and
next-generation networks. We provide the products and solutions that make these networks and the
businesses they support work together seamlessly. We make network businesses more manageable and
assist our customers in capturing, distributing and distilling the vast amounts of data that race
through and across their networks into actionable knowledge. Our customers use this knowledge to
better understand their customers, to monitor the performance of their networks, to be more
efficient in their data transmission, to inform their decision-making and to expedite delivery of
new subscriber services.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have been pursuing and plan to continue to pursue a growth strategy designed to expand our
product line and areas of distribution. The acquisition of i3 Mobile and the purchase of the assets
of Intasys Billing Technologies during fiscal year 2004 and the recent acquisition of 2helix are
results of this strategy.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACE*COMM&#146;s common stock is traded on the Nasdaq Small-Cap Market under the symbol &#147;ACEC.&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our principal executive office is located at 704 Quince Orchard Road, Gaithersburg, Maryland
20878, and our telephone number is (301)&nbsp;721-3000.
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Other
Registrations</B>
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
February&nbsp;6, 2006, there were outstanding 17,473,839 shares of ACE*COMM common stock. The
large majority of these shares are publicly traded, and may be transferred at any time.
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACE*COMM recently registered for resale 1,000,000 shares of common stock issued in March&nbsp;2005
to a group of investors, along with 2,400,000 shares which are not outstanding but which are
issuable under warrants granted to these investors. In addition, ACE*COMM is obligated to
register, in the near future, 1,126,250 shares of common stock issued in March to the owners of
2helix, a company acquired by ACE*COMM, and 90,261 shares of common
stock issued in March to a former consultant to ACE*COMM. The recently registered shares, and, following their
registration, the shares ACE*COMM is obligated to register, may be sold by their owners from time
to time, and sales of those shares may occur before, concurrently with or after one or more sales
under this prospectus. Any such sales, or sales of ACE*COMM common stock that is publicly traded,
could affect the market price of the common stock.
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="center" style="font-size: 10pt">- 2 -
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>RISK
FACTORS</B>
</DIV>





<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An
investment in our common stock involves certain risks. To understand
these risks and to
evaluate an investment in our common stock, you should read this
entire prospectus, as well as the
&#147;Risk Factors&#148; commencing on page&nbsp;17 of our 2005
Annual Report on Form&nbsp;10-K.
</DIV>
<DIV align="left" style="margin-top: 18pt"><FONT size="1">

</FONT></DIV>

<P align="center" style="font-size: 10pt">- 3 -
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FORWARD-LOOKING STATEMENTS IN THIS PROSPECTUS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have made forward-looking statements in this document, and in documents that we incorporate
by reference. These kinds of statements are subject to risks and uncertainties. Forward-looking
statements include the information concerning possible or assumed future results of our operations.
Words such as believes, expects, anticipates or similar expressions, indicate forward-looking
statements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You should note that many factors, some of which are discussed elsewhere in this document and
in the documents that we incorporate by reference, could affect our future financial results and
could cause those results to differ materially from those expressed in our forward-looking
statements. These factors include the &#147;Risk Factors&#148; incorporated by reference to our most recent
Annual Report on Form 10-K and other risk factors as may be detailed from time to time in
ACE*COMM&#146;s public announcements and filings with the Securities and Exchange Commission.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The forward-looking statements are made as of the date of this prospectus, and we assume no
obligation to update the forward-looking statements or to update the reasons why actual results
could differ from those projected in the forward-looking statements.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ABOUT THIS PROSPECTUS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have filed with the Commission a registration statement on Form S-3, of which this
prospectus is a part, under the Securities Act with respect to the offered shares. This prospectus
does not contain all of the information set forth in the registration statement, portions of which
we have omitted as permitted by the rules and regulations of the Commission. Statements contained
in this prospectus as to the contents of any contract or other document are not necessarily
complete. You should refer to the copy of each contract or document filed as an exhibit to the
registration statement for a complete description.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NO PROCEEDS TO THE COMPANY</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACE*COMM will not receive any of the proceeds from sales of shares by the selling stockholder.
The costs and expenses incurred in connection with the registration under the Securities Act of
the offered shares will be paid by ACE*COMM. The selling stockholder will pay any brokerage fees
and commissions and share transfer and other taxes attributable to the sale of the offered shares.
</DIV>

<P align="center" style="font-size: 10pt">- 4 -
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SELLING STOCKHOLDER</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A total of 325,625 shares of common stock may be sold by this prospectus. The shares of common
stock offered by the prospectus were issued to Service Level Corporation in exchange for a software license under a
Software License and Support Agreement dated May&nbsp;31, 2005. ACE*COMM is registering these shares
under the Securities Act pursuant to the terms of the license agreement.
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Software License and Support Agreement provides for the grant of a perpetual,
nonexclusive, worldwide, nontransferable license to ACE*COMM by Service Level Corporation relating
to computer software that ACE*COMM may use to extend its product line by adding further rating
system functionality. This software license is a rating engine which
allows our software to apply either a cost or a price to each record
processed, based on rate/cost tables. Rating can be by origin,
destination, or other parameters, and can enable functions such as
wholesale billing, while costing enables functions such as
least-cost-routing analysis or intercarrier invoice reconciliation
and validation. The value to ACE*COMM from rating is derived by the
integration of this capability with our other software products.
Prior to the purchase of Service Level Corporation, ACE*COMM owned
and maintained three different rating products. As part of a plan to
consolidate and integrate our products we performed an analysis and
came to the conclusion that it was better to buy this component
rather than make it in house. This decision was based upon time to
market, cost, current work effort and other factors. Rating is an
important component of our overall capabilities, but we do not view
it as the most important component or the most valuable component.
The software from Service Level Corporation is not unique and similar
software is available from other vendors (several of which we
evaluated as part of our purchase decision). Moreover, we could have
developed or extended one of our own products to meet the technical
requirements.
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The agreement also provides for Service Level Corporation to perform certain software
maintenance and support services, including consulting, technical support and training. Service
Level Corporation has provided ACE*COMM with a limited warranty with respect to the software, and
has agreed to indemnify ACE*COMM against infringement claims.
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Software License and Support Agreement specifies an overall license fee of $1&nbsp;million,
including a license fee of $200,000, a site license fee of $750,000 payable in ACE*COMM common
stock and a final payment of $50,000 at the end of 12&nbsp;months. The parties determined that the
$750,000 equated to 325,625 shares based upon a volume weighted average during the 10&nbsp;days prior to
contract signing, as set forth in the agreement. ACE*COMM later valued the 325,625 shares at
$791,000 based on the weighted average for the two days prior and two days subsequent to the
measurement date of August&nbsp;17, 2005, the date the software was
accepted by ACE*COMM. The shares were issued during September, after submission of the required documentation
to ACE*COMM&#146;s transfer agent. The license fee has been capitalized and is being amortized over a
period of three years.
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other than this agreement, there have been no other relationships or transactions between
ACE*COMM and the selling shareholder during the past three years.
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACE*COMM has no agreements with the selling stockholder with respect to the manner or timing
of sales of its ACE*COMM stock. Since the selling stockholder may sell all, some or none of their
shares, ACE*COMM cannot estimate the number of shares that will be sold by the selling stockholder
or that will be owned by the selling stockholder upon completion of the offering.
</DIV>
<DIV align="center">

<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Shares</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6"><B>Shares Beneficially</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Beneficially</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000"><B>Owned Prior to Offering</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Owned After the</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Name of Selling Stockholder</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Percent (2)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Offered</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Offering (1)</B></TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Service
Level Corporation
<SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">325,625</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.86</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">325,625</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Assumes the sale of all shares offered in this prospectus and no other purchases or
sales of ACE*COMM common stock.</TD>
</TR>

<TR style="font-size: 3pt"><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Applicable percentage of ownership is based on 17,473,839 shares of ACE*COMM common
stock outstanding on February&nbsp;6, 2006.</TD>
</TR>
<TR style="font-size: 3pt"><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
   <TD>Carl A. Wright and Becky L. Glesner each own a 49% interest in Service Level Corporation and thus
may be deemed to share voting and investment control of the securities owned by Service Level
Corporation and therefore to beneficially own all such shares. Mr.&nbsp;Wright&#146;s and Ms.&nbsp;Glesner&#146;s
address is 2929 Plymouth Road, Suite&nbsp;300, Ann Arbor, Michigan 48105.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">- 5 -
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PLAN OF DISTRIBUTION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling stockholder may, from time to time, sell any or all of its shares of common stock
on any stock exchange, market or trading facility on which the shares are traded or in private
transactions. These sales may be at fixed or negotiated prices. The selling stockholder may use
any one or more of the following methods when selling shares:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>ordinary brokerage transactions and transactions in which the broker-dealer
solicits purchasers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>block trades in which the broker-dealer will attempt to sell the shares as
agent but may position and resell a portion of the block as principal to
facilitate the transaction;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>purchases by a broker-dealer as principal and resale by the broker-dealer
for its account;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an exchange distribution in accordance with the rules of the applicable
exchange;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>privately negotiated transactions;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>short sales;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>broker-dealers may agree with the selling stockholder to sell a specified
number of such shares at a stipulated price per share;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a combination of any such methods of sale; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any other method permitted pursuant to applicable law.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling stockholder may also sell shares under Rule&nbsp;144 under the Securities Act, if
available, rather than under this prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling stockholder may also engage in short sales against the box, puts and calls and
other transactions in our securities or derivatives of our securities and may sell or deliver
shares in connection with these trades.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broker-dealers engaged by the selling stockholder may arrange for other brokers-dealers to
participate in sales. Broker-dealers may receive commissions or discounts from the selling
stockholder (or, if any broker-dealer acts as agent for the purchaser of shares, from the
purchaser) in amounts to be negotiated. The selling stockholder do not expect these commissions
and discounts to exceed what is customary in the types of transactions involved. Any profits on
the resale of shares of common stock by a broker-dealer acting as principal might be deemed to be
underwriting discounts or commissions under the Securities Act. Discounts, concessions,
commissions and similar selling expenses, if any, attributable to the sale of shares will be borne
by a selling stockholder. The selling stockholder may agree to indemnify any agent, dealer or
broker-dealer that participates in transactions involving sales of the shares if liabilities are
imposed on that person under the Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling stockholder may from time to time pledge or grant a security interest in some or
all of the shares of common stock owned by it and, if it defaults in the performance of its secured
obligations, the pledgees or secured parties may offer and sell the shares of common stock from
time to time under this prospectus after we have filed an amendment to this prospectus under Rule
</DIV>

<P align="center" style="font-size: 10pt">- 6 -
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">424(b)(3) or other applicable provision of the Securities Act of 1933 amending the list of selling
stockholders to
include the pledgee, transferee or other successors in interest as selling stockholder under
this prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling stockholder also may transfer the shares of common stock in other circumstances,
in which case the transferees, pledgees or other successors in interest will be the selling
beneficial owners for purposes of this prospectus and may sell the shares of common stock from time
to time under this prospectus after we have filed an amendment to this prospectus under Rule
424(b)(3) or other applicable provision of the Securities Act of 1933 amending the list of selling
stockholder to include the pledgee, transferee or other successors in interest as selling
stockholder under this prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling stockholder and any broker-dealers or agents that are involved in selling the
shares of common stock may be deemed to be &#147;underwriters&#148; within the meaning of the Securities Act
in connection with such sales. In such event, any commissions received by such broker-dealers or
agents and any profit on the resale of the shares of common stock purchased by them may be deemed
to be underwriting commissions or discounts under the Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If we are notified by the selling stockholder that any material arrangement has been entered
into with a broker-dealer for the sale of shares of common stock, if required, we will file a
supplement to this prospectus. If the selling stockholder use this prospectus for any sale of the
shares of common stock, it will be subject to the prospectus delivery requirements of the
Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The anti-manipulation rules of Regulation&nbsp;M under the Securities Exchange Act of 1934 may
apply to sales of our common stock and activities of the selling stockholder.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>WHERE YOU CAN FIND MORE INFORMATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are subject to the informational requirements of the Securities Exchange Act of 1934, as
amended, and file annual, quarterly and current reports, proxy statements and other information
with the SEC. You may read and copy any materials we file with the SEC at the Public Reference
Room of the SEC at 450 Fifth Street, N.W., Washington, D.C. 20549. You may obtain information on
the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. In addition, we
file many of our documents electronically with the SEC, and you may access those documents over the
Internet. The SEC maintains a &#147;web site&#148; that contains reports, proxy and information statements
and other information regarding issuers that file electronically at &#147;http://www.sec.gov.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACE*COMM&#146;s common stock is traded on the Nasdaq Small-Cap Market under the symbol &#147;ACEC.&#148;
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The SEC allows ACE*COMM to &#147;incorporate by reference&#148; information into this prospectus. That
means that ACE*COMM can disclose important information to you by referring you to another document
filed separately with the SEC. The information that ACE*COMM incorporates by reference is
considered a part of this prospectus, except for any information superseded by information
presented in this prospectus. This prospectus incorporates important business and financial
information about us and our subsidiaries that is not included in or delivered with this
prospectus. This prospectus incorporates by reference the documents listed below that ACE*COMM has
filed with the SEC:
</DIV>



<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Annual Report on Form 10-K filed on August&nbsp;31, 2005
for year ended June&nbsp;30, 2005, as amended by a Form 10-K/A filed
on September&nbsp;28, 2005.</TD>
</TR>
</TABLE>
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>



<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Quarterly Report on Form 10-Q filed on November&nbsp;14, 2005 for the quarter ended September
30, 2005.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Current Reports on Form 8-K filed with the SEC on October 27,
2005 and October 31, 2005.</TD>
</TR>

</TABLE>
</DIV>




<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For a description of ACE*COMM common stock, please see
ACE*COMM&#146;s Registration Statement on Form S-1, SEC File No.&nbsp;333-25439.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">- 7 -
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These documents are available without charge to you if you call or write to Loretta Rivers,
ACE*COMM Corporation, 704 Quince Orchard Road, Gaithersburg, Maryland 20878, telephone number (301)
721-3000.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All reports and other documents filed with the SEC pursuant to Section&nbsp;13(a), 13(c), 14 or
15(d) of the Exchange Act subsequent to the effective date of the registration statement and prior
to the termination of this offering shall be deemed to be incorporated by reference herein and to
be a part hereof from the date of filing of such reports and documents. Any statement contained in
a document incorporated by reference herein shall be deemed modified or superseded for purposes of
this prospectus to the extent that a statement contained or incorporated by reference herein
modifies or supersedes such statement. Any statement so modified or superseded shall not be
deemed, except as so modified or superseded, to constitute a part of this prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You should rely only on the information incorporated by reference or provided in this
prospectus or any supplement. ACE*COMM has not authorized anyone to provide you with information
that is different, and, if given or made, such information must be not be relied upon as having
been authorized by us. Neither the delivery of this prospectus at any time nor any sale made
hereunder shall, under any circumstances, imply that the information in this prospectus is correct
as of any date after the date on the front of this prospectus. This prospectus shall not
constitute an offer to sell or a solicitation of an offer to buy by any person in any jurisdiction
in which it is unlawful for such person to make such offer or solicitation.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>LEGAL MATTERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hogan &#038; Hartson L.L.P., Washington, D.C. has passed upon the validity of the common stock
offered pursuant to this prospectus.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXPERTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The financial statements incorporated by reference in this prospectus from our Annual Report on Form 10-K
for the year ended June 30, 2005 have been audited by Grant Thornton LLP, independent registered public
accounting firm, as set forth in its report thereon and are incorporated by reference in this prospectus
in reliance on such report of Grant Thornton LLP, given on the authority of such firm as experts in auditing
and accounting.
</DIV>


<P align="center" style="font-size: 10pt">- 8 -
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="width: 100%; border-bottom: 3px solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 3px solid black; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>No dealer, salesperson or other individual has been authorized to give any information or to
make any representations not contained in this prospectus in connection with the offering covered
by this prospectus. If given or made, such information or representations must not be relied upon
as having been authorized by ACE*COMM or the selling stockholder. This prospectus does not
constitute an offer to sell, or a solicitation of any offer to buy, the offered shares, in any
jurisdiction where, or to any person to whom, it is unlawful to make any such offer or
solicitation. Neither the delivery of this prospectus nor any offer or sale made hereunder shall,
under any circumstances, create an implication that there has not been any change in the facts set
forth in this prospectus or in the affairs of ACE*COMM since the date hereof.</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TABLE OF CONTENTS</B>
</DIV>


<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Page</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Prospectus Summary</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Risk Factors</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Forward-Looking Statements in This
Prospectus</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">About This Prospectus</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Use of Proceeds</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Selling Stockholder</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Plan of Distribution</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Where You Can Find More Information</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Incorporation of Certain Documents by
Reference</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Legal Matters</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">8</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Experts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">8</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>325,625 Shares</B>
</DIV>


<DIV align="center" style="font-size: 18pt; margin-top: 18pt">ACE*COMM<BR>
CORPORATION
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 6pt"><B>Common Stock</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 50%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PROSPECTUS</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 50%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>




<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>February&nbsp;10,
2006</B>
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="width: 100%; border-bottom: 3px solid black; font-size: 1pt; margin-top: 6pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 3px solid black; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION NOT REQUIRED IN PROSPECTUS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;14. </B><U><B>Other Expenses of Issuance and Distribution</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth the estimated fees and expenses payable by ACE*COMM in
connection with the issuance and distribution of the securities being registered:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Registration Fee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">110.38</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Printing and Duplicating Expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Legal Fees and Expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Blue Sky Fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">250</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accounting Fees and Expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Miscellaneous</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Total</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">16,860.38</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;15. <u> Indemnification of Directors and Officers</u>.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section&nbsp;2-418 of the Maryland General Corporation Law (&#147;MGCL&#148;), unless limited by the
articles of incorporation, a corporation may indemnify its present and former directors and
officers, among others, against judgments, penalties, fines, settlements and reasonable expenses
actually incurred by them in connection with any proceeding to which they may be a party by reason
of their service in those or other capacities unless it is established that (a)&nbsp;the act or omission
of the director or officer was material to the matter giving rise to the proceeding and was
committed in bad faith or was the result of active and deliberate dishonesty, (b)&nbsp;the director or
officer actually received an improper personal benefit in money, property or services or (c)&nbsp;in the
case of any criminal proceeding, the director or officer had reasonable cause to believe that the
act or omission was unlawful. In addition, the MGCL requires corporations, as a condition to
advancing expenses, to obtain (i)&nbsp;a written affirmation by the director or officer of his or her
good faith belief that the standard of conduct necessary for indemnification by the corporation as
authorized by the MGCL and the corporation&#146;s charter and by-laws has been met, and (ii)&nbsp;a written
statement by or on his or her behalf to repay the amount paid or reimbursed by the corporation if
it shall ultimately be determined that the standard of conduct was not met.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indemnity is mandatory if a director or an officer has been successful on the merits or
otherwise in the defense of any proceeding arising from his or her service as a director unless
such indemnification is not otherwise permitted as described in the following sentence. In addition
to the foregoing, a court of appropriate jurisdiction may, under certain circumstances, order
indemnification if it determines that the director or officer is fairly and reasonably entitled to
indemnification in view of all the relevant circumstances, whether or not the director or officer
has met the standards of conduct set forth in the preceding sentence or has been adjudged liable on
the basis that a personal benefit was improperly received in a proceeding charging improper
personal benefit to the director or the officer. If the proceeding was an action by or in the right
of the corporation or involved a determination that the director or officer received an improper
personal benefit, however, no indemnification may be made if the individual is adjudged liable to
the corporation, except to the extent of expenses approved by a court of appropriate jurisdiction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland law also provides that, where indemnification is permissible, it must be authorized
(a)&nbsp;by a majority vote of a quorum of the board of directors consisting of directors who are not
parties to the proceeding (or if such a quorum cannot be obtained, the determination may be made by
a majority vote of a committee of the board which consists solely of two or more directors who are
not parties to the proceeding and who were designated to act by a majority of the full board of
directors),
</DIV>

<P align="center" style="font-size: 10pt">II - 1
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(b)&nbsp;by special legal counsel selected by the board of directors or by a committee of the board of directors
(or if the requisite quorum of the board of directors cannot be obtained and the committee cannot
be established, a majority of the full board of directors, including directors who are parties, may
select the special counsel), or (c)&nbsp;by a vote of the stockholders other than those stockholders who
are directors and a party to the proceedings.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The ACE*COMM articles of incorporation limit the monetary liability of both officers and
directors to the maximum extent permissible under Maryland law.
</DIV>

<P align="center" style="font-size: 10pt">II - 2
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;16. Exhibits</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following Exhibits are filed herewith or incorporated herein by reference:
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"> <B>No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Specimen of Common Stock Certificate (1)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>



<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Hogan &#038; Hartson L.L.P. as to the validity of the shares being registered</TD>
</TR>


<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">OEM Software License and Support
Agreement, dated May 31, 2005, by and between ACE*COMM Corporation
and Service Level Corporation</TD>
</TR>

<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Hogan &#038; Hartson L.L.P. (included in Exhibit&nbsp;5)</TD>
</TR>

<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Grant Thornton LLP</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Incorporated by reference to ACE*COMM&#146;s Registration Statement on Form S-1, File No.
333-25439.</TD>
</TR>
</TABLE>
<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;17. Undertakings.</B>
</DIV>



<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned registrant hereby undertakes:</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>


<DIV align="left"><FONT size="1">

</FONT></DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left"><FONT size="1">

</FONT></DIV>


<DIV align="left"><FONT size="1">

</FONT></DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">i.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any prospectus required by section 10(a)(3) of the
Securities Act of 1933;</TD>
</TR>

<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>


<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">ii.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in the registration statement.
Notwithstanding the foregoing, any increase or decrease in volume of securities
offered (if the total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of the estimated
maximum offering range may be reflected in the form of prospectus filed with the
Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and
price represent no more than 20% change in the maximum aggregate offering price
set forth in the &#147;Calculation of Registration Fee&#148; table in the effective
registration statement.</TD>
</TR>

<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>

<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">iii.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any
material change to such information in the registration statement;</TD>
</TR>

<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>


<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><I>&nbsp;</I></TD>
    <TD width="1%"><I>&nbsp;</I></TD>
    <TD><I>Provided, however, </I>That paragraphs (a)1(i) and (a)(1)(ii) of this section do not
apply if the registration statement is on Form S-3, Form S-8 or Form F-3, and the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the
Commission by the registrant pursuant to section 13 or section 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference in the
registration statement.</TD>
</TR>


<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>

<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provided however, That:</TD>
</TR>

<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>
</TABLE>
</DIV>



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">A.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not
apply if the registration statement is on Form S-8, and the information
required to be included in a post-effective amendment by those paragraphs is
contained in reports filed with or furnished to the Commission by the
registrant pursuant to section 13 or section 15(d) of the Securities Exchange
Act of 1934 that are incorporated by reference in the registration statement;
and</TD>
</TR>


<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>

<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">B.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) of this
section do not apply if the registration statement is on Form S-3 or Form F-3
and the information required to be included in a post-effective amendment by
those paragraphs is contained in reports filed with or furnished to the
Commission by the registrant pursuant to section 13 or section 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference in the
registration statement, or is contained in a form of prospectus filed pursuant
to Rule 424(b) that is part of the registration statement.</TD>
</TR>

<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>
</TABLE>
</DIV>



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>That, for the purpose of determining any liability under the Securities Act of
1933, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.</TD>
</TR>
<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>
<TR>
<TD>&nbsp;</TD>
</TR>
<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.</TD>
</TR>
<TR><TD><DIV align="left"><FONT size="1">

</FONT></DIV></TD></TR>
</TABLE>
</DIV>


<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">







<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt"><DIV align="left"><FONT size="1">

</FONT></DIV></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>That, for the purpose of determining liability under the Securities Act of 1933
to any purchaser:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt"><DIV align="left"><FONT size="1">

</FONT></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR>
    <TD style="font-size: 6pt"><DIV align="left"><FONT size="1">

</FONT></DIV></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">i.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the registrant is relying on Rule&nbsp;430B (?230.430B of this
chapter):</TD>
</TR>

<TR>
    <TD style="font-size: 6pt"><DIV align="left"><FONT size="1">

</FONT></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR>
    <TD style="font-size: 6pt"><DIV align="left"><FONT size="1">

</FONT></DIV></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">A.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each prospectus filed by the registrant pursuant to Rule
424(b)(3)shall be deemed to be part of the registration statement as of the
date the filed prospectus was deemed part of and included in the registration
statement; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt"><DIV align="left"><FONT size="1">

</FONT></DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt"><DIV align="left"><FONT size="1">

</FONT></DIV></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">B.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each prospectus required to be filed pursuant to Rule
424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on
Rule&nbsp;430B relating to an offering made pursuant to Rule&nbsp;415(a)(1)(i), (vii), or
(x)&nbsp;for the purpose of providing the information required by section 10(a) of
the Securities Act of 1933 shall be deemed to be part of and included in the
registration statement as of the earlier of the date such form of prospectus is
first used after effectiveness or the date of the first contract of sale of
securities in the offering described in the prospectus. As provided in Rule
430B, for liability purposes of the issuer and any person that is at that date
an underwriter, such date shall be deemed to be a new effective date of the
registration statement relating to the securities in the registration statement
to which that prospectus relates, and the offering of such securities at that
time shall be deemed to be the initial bona fide offering thereof. Provided,
however, that no statement made in a registration statement or prospectus that
is part of the registration statement or made in a document incorporated or
deemed incorporated by reference into the registration statement or prospectus
that is part of the registration statement will, as to a purchaser with a time
of contract of sale prior to such effective date, supersede or modify any
statement that was made in the registration statement or prospectus that was
part of the registration statement or made in any such document immediately
prior to such effective date; or</TD>
</TR>


<TR>
    <TD style="font-size: 6pt"><DIV align="left"><FONT size="1">

</FONT></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR>
    <TD style="font-size: 6pt"><DIV align="left"><FONT size="1">

</FONT></DIV></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">ii.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the registrant is subject to Rule&nbsp;430C, each prospectus filed
pursuant to Rule 424(b) as part of a registration statement relating to an
offering, other than registration statements relying on Rule&nbsp;430B or other than
prospectuses filed in reliance on Rule&nbsp;430A, shall be deemed to be part of and
included in the registration statement as of the date it is first used after
effectiveness. Provided, however, that no statement made in a registration
statement or prospectus that is part of the registration statement or made in a
document incorporated or deemed incorporated by reference into the registration
statement or prospectus that is part of the registration statement will, as to a
purchaser with a time of contract of sale prior to such first use, supersede or
modify any statement that was made in the registration statement or prospectus
that was part of the registration statement or made in any such document
immediately prior to such date of first use.</TD>
</TR>


<TR>
    <TD style="font-size: 6pt"><DIV align="left"><FONT size="1">

</FONT></DIV></TD>
</TR>

</TABLE>
</DIV>




<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD style="font-size: 6pt"><DIV align="left"><FONT size="1">

</FONT></DIV></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned registrant hereby undertakes that, for
purposes of determining any liability under the Securities Act of
1933, each filing of the registrant&#146;s annual report pursuant to
section 13(a) or section 15(d) of the Securities Exchange Act of 1934
(and, where applicable, each filing of an employee benefit
plan&#146;s annual report pursuant to section 15(d) of the Securities
Exchange Act of 1934) that is incorporated by reference in the
registration statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering
of such securities at that time shall be deemed to be the initial
bona fide offering thereof.</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Insofar as
indemnification for liabilities arising under the Securities Act of
1933 may be permitted to directors, officers and controlling persons
of the registrant pursuant to the foregoing provisions, or otherwise,
the registrant has been advised that in the opinion of the Securities
and Exchange Commission such indemnification is against public
policy as expressed in the Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities
(other than the payment by the registrant of expenses incurred or
paid by a director, officer or controlling person of the registrant
in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant
will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Act and will be governed by
the final adjudication of such issue.</TD>
</TR>
<TR>
    <TD style="font-size: 6pt"><DIV align="left"><FONT size="1">

</FONT></DIV></TD>
</TR>

</TABLE>
</DIV>










<P align="center" style="font-size: 10pt">II - 3
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has
duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in Gaithersburg, Maryland, on
February&nbsp;10, 2006.
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>


<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">ACE*COMM CORPORATION</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;/s/ Steven R. Delmar</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Steven R. Delmar<BR>
Senior Vice President and<BR>Chief Financial Officer
</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>POWER OF ATTORNEY</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each individual whose signature appears below hereby constitutes and appoints George T.
Jimenez and Steven R. Delmar, and each and either of them, such individual&#146;s true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution, for such person and
in such person&#146;s name, place and stead, in any and all capacities, to sign a registration statement
on Form S-3 with the U.S. Securities and Exchange Commission (the &#147;SEC&#148;), or any registration
statement that is to be effective upon filing pursuant to Rule 462(b) under the Securities Act of
1933, as amended, including, without limitation, any and all amendments thereto, and to file the
same with the SEC, with all exhibits thereto and other documents in connection therewith, granting
unto said attorneys-in-fact and agents, and each of them, full power and authority to do and
perform each and every act and thing requisite and necessary to be done in and about the premises,
as fully to all intents and purposes as such person might or could do in person, hereby ratifying
and confirming all that said attorney-in-fact and agent or either of them or any substitute
therefor, may lawfully do or cause to be done by virtue hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Power of Attorney is valid as of its execution, until its withdrawal.
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the
requirements of the Securities Act of 1933, this registration statement has
been signed by the following persons in the capacities indicated on
the 10<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> day of February&nbsp;2006.
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>



<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="center" style="margin-top: 6pt">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="18%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">

<TD valign="top" align="left"><DIV style="margin-left:0px; text-indent:-0px">/s/
George T. Jimenez*</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>



<TR valign="bottom">
<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
George T. Jimenez
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman, Chief Executive Officer, President,<BR>
Treasurer (Principal Executive Officer) and Director</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">

<TD valign="top" align="left"><DIV style="margin-left:0px; text-indent:-0px">/s/
Steven R. Delmar</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Steven R. Delmar
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Senior Vice President and Chief Financial <br>
Officer (Principal Financial and Accounting Officer)</TD>
</TR>


<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
Paul G. Casner, Jr.*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>



<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Paul G. Casner, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">

<TD valign="top" align="left"><DIV style="margin-left:0px; text-indent:-0px">/s/
Gilbert A. Wetzel*</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Gilbert A. Wetzel
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">

<TD valign="top" align="left"><DIV style="margin-left:0px; text-indent:-0px">/s/
Harry M. Linowes*</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Harry M. Linowes
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">

<TD align="left" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
J. William Grimes*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
J. William Grimes
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">

<TD valign="top" align="left"><DIV style="margin-left:0px; text-indent:-0px">/s/
Matthew J. Stover*</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Matthew J. Stover
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>

<TR>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
    <!-- Begin Table Head -->
    <TR valign="bottom">
      <TD width="3%">&nbsp;</TD>
      <TD width="31%">&nbsp;</TD>
      <TD width="0%">&nbsp;</TD>
      <TD width="35%">&nbsp;</TD>
      <TD width="0%">&nbsp;</TD>
      <TD width="29%">&nbsp;</TD>
    </TR>
    <!-- End Table Head -->
    <!-- Begin Table Body -->
    <TR>
      <TD colspan="2" align="left" valign="top" nowrap>* Pursuant to Power of Attorney</TD>
    </TR>
    <TR>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
    </TR>
    <TR>
      <TD align="left" valign="top">By:</TD>
      <TD align="left" valign="top">/s/&nbsp;Steven R. Delmar</TD>
    </TR>
    <TR valign="bottom">
      <TD valign="top">&nbsp;</TD>
      <TD valign="top"><DIV style="font-size: 3pt; margin-top: 1pt; width: 48%; border-top: 1px solid #000000">&nbsp;</DIV>
         Steven R. Delmar<br>Attorney-in-Fact </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
    </TR>
    <!-- End Table Body -->
  </TABLE>

<P align="center" style="font-size: 10pt">II - 6
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"> <B>No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B></TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Specimen of Common Stock Certificate (1)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>



<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Hogan &#038; Hartson L.L.P. as to the validity of the shares being registered</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>








<TR>
<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">OEM Software License and Support
Agreement, dated May 31, 2005, by and between ACE*COMM Corporation
and Service Level Corporation</TD>
</TR>




<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Hogan &#038; Hartson L.L.P. (included in Exhibit&nbsp;5)</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Grant Thornton LLP</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>



<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Incorporated by reference to the ACE*COMM&#146;s Registration Statement on Form S-1, File No.
333-25439.</TD>
</TR>
<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

</TABLE>
<DIV align="left"><FONT size="1">

</FONT></DIV>




<P align="center" style="font-size: 10pt">II - 7
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5
<SEQUENCE>2
<FILENAME>w13610a2exv5.htm
<DESCRIPTION>EXHIBIT 5
<TEXT>
<HTML>
<HEAD>
<TITLE>exv5</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 6pt"><B>EXHIBIT 5</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">February
10, 2006
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Board of Directors<BR>
ACE*COMM Corporation<BR>
704 Quince Orchard Road<BR>
Gaithersburg, MD 20878

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are acting as special counsel to ACE*COMM Corporation, a Maryland corporation (the
&#147;Company&#148;), in connection with its registration statement on Form S-3 (the &#147;Registration
Statement&#148;), filed with the Securities and Exchange Commission relating to the proposed public
offering of up to 325,625 shares of the Company&#146;s common stock, par value $0.01 per share, all of
which shares (the &#147;Shares&#148;) may be sold by certain selling stockholders (each a &#147;Selling
Shareholder&#148;). This opinion letter is furnished to you at your request to enable you to fulfill
the requirements of Item&nbsp;601(b)(5) of Regulation&nbsp;S-K, 17 C.F.R. &#167; 229.601(b)(5), in connection with
the Registration Statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this opinion letter, we have examined copies of the following documents:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>An executed copy of the Registration Statement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>An executed copy of the Software License and Support Agreement
by and between the Company and Service Level Corporation, dated May&nbsp;31, 2005.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Articles of Amendment and Restatement of the Company, as
certified by the Secretary of Company on the date hereof as being complete,
accurate and in effect.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Bylaws of the Company, with amendments thereto, as
certified by the Secretary of the Company on the date hereof as being complete,
accurate, and in effect.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Resolutions of the Board of Directors of the Company adopted at
a meeting held on August&nbsp;23, 2005, as certified by the Secretary of the Company
on the date hereof as being complete, accurate, and in effect, relating to,
among other things, the original issuance of the Shares and arrangements in
connection therewith.
</TD>
</TR>
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Board of
Directors</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 0pt">ACE*COMM Corporation</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 0pt">Page
2</DIV>



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Certificate of an officer of the Company, dated as of the date
hereof, as to the receipt of the consideration for the Shares.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In our examination of the aforesaid documents, we have assumed the genuineness of all
signatures, the legal capacity of all natural persons, the accuracy and completeness of all
documents submitted to us, the authenticity of all original documents, and the conformity to
authentic original documents of all documents submitted to us as copies (including telecopies).
This opinion letter is given, and all statements herein are made, in the context of the foregoing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This opinion letter is based as to matters of law solely on the Maryland General Corporation
Law, as amended. We express no opinion herein as to any other laws, statutes, ordinances, rules,
or regulations. As used herein, the term &#147;Maryland General Corporation Law, as amended&#148; includes
the statutory provisions contained therein, all applicable provisions of the Maryland Constitution
and reported judicial decisions interpreting these laws.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based upon, subject to and limited by the foregoing, we are of the opinion that, based upon
the officer&#146;s certificate referred to in paragraph 6 above confirming receipt by the Company of the
consideration for the Shares specified in the resolutions of the Board of Directors referred to in
Paragraph&nbsp;5 above, the Shares are validly issued, fully paid, and nonassessable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This opinion letter has been prepared for your use in connection with the Registration
Statement and speaks as of the date hereof. We assume no obligation to advise you of any changes
in the foregoing subsequent to the delivery of this opinion letter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby consent to the filing of this opinion letter as Exhibit&nbsp;5 to the Registration
Statement and to the reference to this firm under the caption &#147;Legal Matters&#148; in the prospectus
constituting a part of the Registration Statement. In giving this consent, we do not thereby admit
that we are an &#147;expert&#148; within the meaning of the Securities Act of 1933, as amended.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Very truly yours,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">
/s/ Hogan &amp; Hartson L.L.P.</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">
HOGAN &#038; HARTSON L.L.P.</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>3
<FILENAME>w13610a2exv10.htm
<DESCRIPTION>EX-10
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">





<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Service Level Corporation<BR>
OEM Software License and Support Agreement</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>1.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Parties; Effective Date. </B>This Software License and Support Agreement (&#147;Agreement&#148;) is
between Service Level Corporation, a Delware corporation with offices at 2929 Plymouth Road,
Suite&nbsp;300, Ann Arbor, Michigan 48105 U.S.A. (&#147;SLC&#148;) and ACE*COMM Corporation 704 Quince
Orchard Road, Gaithersburg, Maryland 20878 (&#147;Licensee&#148;). This Agreement is effective on the
date last signed by the parties (&#147;Effective Date&#148;).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>2.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Nature of Agreement. </B>SLC is a developer of computer software programs and a provider of
software-related services. SLC owns and has the right to grant licenses in certain computer
software called the SLC Ratchet<SUP style="font-size: 85%; vertical-align: text-top">TM</SUP> Rating System which is more fully described on
Schedule&nbsp;A to this Agreement (the &#147;Software&#148;) Licensee desires to use the Software in
connection with its development and testing of products that will contain, interface with,
and/or be supplied with the Software (&#147;Products&#148;). Identifying the Products as including
SLC&#146;s Software, Licensee will then market and license the Products, in object code form, to
end-users (&#147;End-Users&#148;) solely in accordance with this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>3.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Grant of Software License.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to all terms of this Agreement, SLC grants Licensee a perpetual, nonexclusive,
worldwide, nontransferable license to:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.1.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>integrate and embed the Software into Licensee&#146;s Products and, distribute the Software as
integrated into Licensee&#146;s Products for sale as a unit to Licensee&#146;s resellers and
End-Users;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.1.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>use the Software to provide technical support services to Licensee&#146;s reseller and End-Users;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.1.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>use any user documentation provided by SLC (&#147;Documentation&#148;) to create customer
documentation for Licensee&#146;s resellers and End-Users (&#147;Product Documentation&#148;), and
distribute such Product Documentation to End-Users, provided that no such user Product
Documentation shall contain any Confidential Information of SLC, set forth below; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.1.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>reproduce copies of the Software as reasonably necessary for Licensee to exercise its
rights under this Agreement, subject to the confidentiality provisions of this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.1.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>use and modify source code for use in and with any of Licensee&#146;s products under a
Licensee private label name and
</TD>
</TR>
</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.1.6</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>License to End-Users and Sub-License to resellers the Licensee&#146;s private label version
of the Software created by Licensee.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Licensee may not use the Software except as expressly provided herein. All license rights
not expressly granted to Licensee in this Agreement are reserved to SLC. Except as expressly
provided herein. Licensee shall not sublicense except to authorized resellers, rent, assign
except to Licensee&#146;s subsidiaries, lease, sell, distribute or transfer the Software.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Licensee shall not remove alter or destroy any copyright notices or other proprietary
rights marks or legends on or in the Software or Documentation and on authorized copies. In
addition, Licensee will ensure that the following trademark notice and copyright notice are
included in the &#147;About&#148; section of the Product(s) and on, and/or in, all physical and
electronic packaging for the Product(s);</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Copyright <SUP style="font-size: 85%; vertical-align: text-top">&#169;</SUP> 2005 Service Level Corporation, All right reserved.</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>4.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Ownership. </B>SLC is the owner or licensee of all intellectual property rights in the Software and
Documentation, including without limitation, copyrights, trade secrets, trademarks, patents, and
&#147;know-how.&#148; Licensee acknowledges the foregoing and agrees to implement software protection
measures designed to prevent unauthorized use and reproduction of the Software or Documentation, including, but not be limited to, keeping the Software and Documentation in a secure place, under
reasonable access and use restrictions not less strict than those applied by Licensee with respect
to its own confidential information. Licensee shall make reasonable efforts to notify SLC of any
potential or apparent infringements of rights in the Software and/or Documentation. Licensee shall
have and retain all rights, title and interest in and to derivative works made by Licensee pursuant
to Section&nbsp;3.2 above, exclusive of Software. Documentation and other materials owned by SLC or its
third party licensors.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>5.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Product License.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Licensee may license Products to End-Users and Sub-License to resellers only pursuant to
written agreements (each a &#147;product License&#148;) that include terms and obligations no less
stringent regarding the Software and Documentation than the terms and obligations of this
Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without limiting the generality of the foregoing each Product License shall contain
substantially the following terms, which may not be modified without the prior express written
consent of SLC:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.2.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>authorize the use of End&#150;Users copies of the Software only in machine-readable object code
form;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.2.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>prohibit further copying and/or transfer of the Software. Documentation, and/or Product
Documentation by the End-User;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.2.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>limit the use of the Software to the provision of services to the End-User&#146;s direct
customers and prohibit the use of the Software in service bureaus and in Application Provider
(&#147;ASP&#148;) mode;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.2.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>prohibit the End-User, or its customers who may have access to the Software incident to
services provided by the End-User from reverse engineering reverse compilation or reverse
assembly of the Product(s) and/or Software.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.2.6</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a disclaimer of all warranties or liability as to SLC including without limitation
warranties of merchantability and fitness for a particular purpose:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.2.7</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>require the End-User to be bound be the same or substantially similar confidentiality
obligations that Licensee is bound by under this Agreement; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>6.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Software Delivery and Acceptance; Remedy.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">6.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Within ten (10)&nbsp;days after the date SLC receives this signed Agreement which includes
payment of the OEM License Fee described in Schedule&nbsp;B, SLC will ship the Software and any
other materials identified in Schedule&nbsp;A to Licensee. Licensee may acquire additional services from
SLC at SLC&#146;s then current technical services rates or as otherwise agreed between the
parties.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">6.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Software is deemed accepted sixty (60)&nbsp;calendar days after installation unless within
that time (the &#147;Acceptance Period&#148;). Licensee provides written notice to SLC that the Software
does not operate in substantial conformance with the specifications as described in the HTML
based Ratchet Rating System User documentation delivered as part of this</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Agreement. If Licensee provides such written notice to SLC. SLC will use commercially
reasonable efforts to, at its sole option, repair or replace the Software with in a reasonable
time of its receipt of the notice. If SLC is unable to repair or replace the Software within
a reasonable time Licensee may terminate this Agreement and return the Software and
Documentation for a full refund of the license paid pursuant to this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>7.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Fees; Taxes.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">7.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In exchange for the rights granted to Licensee under this Agreement Licensee shall pay
SLC the fees set forth in Schedule&nbsp;B.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">7.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Licensee shall pay the fees to SLC in accordance with the terms of Schedule&nbsp;B. One-time
charges required under this Agreement will be billed by SLC in advance. Standard payment
terms are net cash without discount set-off or deferment due and payable with thirty (30)
days from the date of SLC&#146;s invoice. Licensee shall be charged a one and a half percent
(1.5%) late fee per month on all overdure amounts for any fees due and payable under this
Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">7.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All fees are net of any sales, excise, ad-valorem use or other taxes. Licensee warrants
that it shall be responsible for payment of all such taxes arising from Licensee&#146;s use of
the Software and distribution of the Products. Licensee shall pay, or reimburse. SLC for any
tax or assessment including but not limited to all sales, use, rental, property, gross
receipts, excise or other taxes duties or charges imposed by any government body or agency
or subdivision thereof (collectively &#147;governmental body&#148;) by virture of SLC&#146;s interest in or
sale, provision, or use of any services or tangible personal or intangible property
pursuant ot the terms of this Agreement. Licensee shall pay SLC or the appropriate
governmental body as the case may be such tax or assessment together with any times
penalties or interest thereon within thirty (30)&nbsp;calendar days of the date of the invoice
by SLC or the date on which Licensee received notice of such requirement from the
applicable governmental body whichever is earlier. Notwithstanding the foregoing, Licensee
shall not be responsible for paying or reimbursing SLC for corporate franchise tax capital
tax, net worth tax, or taxes measured by reference to SLC&#146;s net income.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">7.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Should Licensee in good faith dispute any portion of the invoice submitted by SLC.
Licensee must advise SLC in writing within thirty (30)&nbsp;days of invoice date of such dispute
and when due pay all non-disputed charges. SLC will consider Licensee&#146;s dispute in good
faith.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>8.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Maintenance and Support Services ; Other Services.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">8.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>SLC shall make installation, customization, training, consulting, technical support and other
services related to the Software available to Licensee in accordance with the terms and fees
set forth on Schedule&nbsp;B. Licensee may acquire additional services through the written agreement
of the parties. Licensee shall be solely responsible for providing any warranty and technical
support to its End-Users. Other than as provided in Section&nbsp;8.3. SLC shall have no</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">responsibility for any technical support to End-Users unless SLC contracts directly with
such End-User.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">8.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Licensee may also request on-site assistance from SLC. In such event Licensee shall pay SLC
its then current per-diem fees, and will reimburse SLC for all reasonable traveling expenses
and costs for meals, travel and lodging.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>9.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Indemnification by SLC for Infringement Damages.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">9.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>SLC shall defend, at its sole expense, any third party claim, demand or suit against
Licensee alleging that Licensee&#146;s authorized use of the Software and Documentation
infringes a third party&#146;s U.S. patent, copyright, trademark, trade secret or other
intellectual property right (&#147;Claim&#148;), and shall indemnify
and hold Licensee harmless from and against any and
all damages, fines, penalties, costs, expenses and/or fees (including reasonable attorney&#146;s
fees) awarded or assessed against Licensee in association with the Claim, or reached
through a negotiated settlement of the Claim.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">9.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the Software infringes a third party&#146;s U.S. patent, copyright, trademark, trade
secret or other intellectual property right, or SLC reasonably believes that it is likely
to infringe, then SLC shall, at its sole expense either (1)&nbsp;procure for licensee the right
to continue using the Software (2)&nbsp;replace the Software with the software of similar
functionality that is non-infringing; or (3)&nbsp;modify the Software so that it is
non-infringing, but maintains substantially the same functionality.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">9.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In order to receive the indemnification in this Section, the Claim must take place in
the United States; Licensee must promptly notify SLC of the assertion of the Claim; allow
SLC to retain sole and exclusive control over the defense and /or settlement of the Claim;
and cooperate with SLC, at SLC&#146;s expense, in the defense and /or settlement of the Claim.
This Section sets forth SLC&#146;s sole indemnification obligations
and Licensee&#146;s sole indemnification remedies, in association with the Claims
described above.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>10.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Indemnification by Licensee.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Licensee represents and warrants that it shall be solely responsible for all actions
relating to its Products, including obtaining any licenses necessary for its use of the
Software, third party software, products, data, know-how, or technology; its creation and
distribution of Products; and marketing, advertising, sale, export, warranty, performance
of, and technical support for the Products. In addition, Licensee shall not make any
statement, representation, or warranties, or accept any inabilities whatsoever, to or with
regard to nay person or entity that are inconsistent with any disclaimer or limitation
contained in this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Licensee shall defend, at its sole expense, any Claims against SLC arising out of or
related to the responsibilities of Licensee as set forth in Section&nbsp;10.1 or otherwise
related to the Products except to the extent such Claims are caused by SLC or are SLC&#146;s
obligation under </TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;9 above, and shall indemnify and hold SLC harmless from any and
all damages, fines, penalties, costs, expenses and fees (including reasonable attorneys&#146;
fees) awarded or assessed against it as a result of such Claim, or reached through a
negotiated settlement of the Claim.</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In order to receive the indemnification in the Section, SLC must promptly notify
Licensee of the assertion of the Claim; allow Licensee to retain sole and exclusive control
over the defense and/or settlement of the Claim; and cooperate with Licensee, at Licensee&#146;s
expense, in the defense and/or settlement of the Claim. This Section sets forth Licensee&#146;s
sole indemnification obligations, and SLC&#146;s sole indemnification remedies, in association
with the Claims described above.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>11.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Confidentiality.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">11.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>During the Agreement each party may have access to information that is considered
confidential by the other. This information may include the Software, technical know-how,
technical specifications, software object code and source code, protocols, strategic
business plans, results of testing, systems, financial information, product information,
methods of operation, customer information, supplier information, and compilation of data
that a party marks or designates as confidential (&#147;Confidential
Information&#148;).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">11.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each party shall use the other party&#146;s Confidential Information only for the purpose
of, and in performance of its obligations under, this Agreement. Each party shall maintain
the confidentiality of the other party&#146;s Confidential Information in the same manner in
which it protects its own Confidential Information of like kind, but in no event shall
either party take less than reasonable precautions to prevent the unauthorized disclosure
or use of the other party&#146;s Confidential Information.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">11.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the terms set forth herein, each party is permitted to disclose the other party&#146;s
Confidential Information to its employees and subcontractors on a need to know basis only,
provided that such employees and subcontractors have written confidentiality obligations to
that party and that each party shall remain fully responsible and liable to the other party
for each employee&#146;s and or subcontractor&#146;s performance and/or breach of such obligations.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">11.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The confidentiality provisions of this Agreement do not apply to information that is entirely
in the public domain through no fault of the receiving party was known to the receiving party
prior to access to that information as demonstrated by written records; received lawfully from
a third party through no breach of any obligation of confidentially owed to the other party;
or created by a party independently of its access to or use of the other party&#146;s Confidential
Information.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">11.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the terms of Section&nbsp;17, upon termination of this Agreement or at a party&#146;s
request, each party shall return the other party&#146;s Confidential Information and shall not use
the other party&#146;s Confidential Information for its own or any third party&#146;s benefit. The</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD>&nbsp;&nbsp;provisions of this section shall survive termination of this Agreement for so long as the
Confidential Information remains Confidential.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>12.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Limited Warranties; Exclusion of Certain Warranties.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>SLC warrants that for thirty (30)&nbsp;days after the
Acceptance Date, the Software will perform in
substantial conformance with the Documentation and functionality existing on the date of
implementation . If during this period the Software does not perform as warranted , then SLC
will use commercially reasonable efforts to correct the nonconformance at SLC&#146;s expense and at
a location of SLC&#146;s choosing. If SLC is unable to correct the nonconformance within a
reasonable time Licensee shall have the right to terminate this Agreement and return the
Software and Documentation for a full refund of license fees paid
pursuant to this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The limited software warranty applies only to Software used
in accordance with this Agreement, and does not apply if the Software media or Software code has been subject to
accident, misuse, or modification, and only if the nonconformance can be demonstrated on an
unmodified version of the Software. In SLC investigates any
nonconformance and such noncoformance is found to be caused by
operator error, erroneous system configuration,
modification, or other cause not inherent in the software. SLC reserves the right to charge
for its services at its then  - current technical service rates.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Software is not a substitute for professional judgment, and SLC shall have no
liability or responsibility for the results obtained by the use of the Software by the
Licensee or any End-User SLC does not warrant that the functions contained in the Software
will meet Licencee&#145;s specific requirements, the requirements of
Licenee&#146;s particular industry, or will be error-free or operate without interruption . The remedies outlined in this
Section&nbsp;12 are Licensee&#146;s sole remedies with regards to warranties for the Software.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>THESE LIMITED WARRANTIES ARE IN LIEU OF AND LICENSEE HEREBY WAIVES. ALL OTHER
WARRANTEES. EXPRESS OR IMPLIED. INCLUDING WITHOUT LIMITATION, ANY
WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>13.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Limitation of Liability.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">13.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Licensee acknowledges that it is responsible for its
selection and used of the Software, and the results obtained from its use of SLC Software. Licensee agrees that the Software
in not a substitute for professional technical expertise.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">13.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In no event shall SLC be liable to Licensee in relation to this Agreement or the
Software, regardless of the form of action or theory of recovery for
any (a)&nbsp;indirect indirect, incidental, consequential, special, primitive or exemplary damages, regardless of whether
SLC has been made aware of their possibility and or (b)&nbsp;lost
profits, loss of data, benefit of
the bargain damages, or business interruption losses. Any claims relating to this Agreement
shall be</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>



<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>brought within one (1)&nbsp;year after the party asserting the claim knew, or reasonably should have
known of the existence of the claim.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">13.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except for claims arising out of a party&#146;s indemnification obligation any claim arising
out of, or related to, this Agreement must be initiated within one (1)&nbsp;year of the date
the party knew, or reasonably should have known, of the existence of such claim against the
other party.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>14.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Source Code Escrow.</B> With prior SLC written approval, where such approval shall not
be unreasonably withheld. Licensee shall, for the sole purpose of enabling licensee to
provide emergency support to its End-Users in connection with the Software and for
no other purpose be permitted to deposit one copy of the source code
for the Software, as updated from time to time, in an escrow account with a Licensee selected
third-party escrow agent. Licensee expressly agrees that the End-Users rights to
access and use the source code in escrow shall be triggered and limited by the terms
of the agreement with the escrow agent. SLC shall not pay any fees required for
the services of the third-party escrow agent.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>15.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Laws and Regulations of the United States; Export;
Government Rights.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">15.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Licensee shall comply with all provisions of any applicable
laws, regulations, rules
and orders relating to the licenses herein granted and to the testing, production,
transportation, export, packaging, labeling, sale or use of the Software. Product
Documentation and in Products, or otherwise applicable to Licensee&#146;s activities hereunder.
Licensee shall obtain such written assurances regarding export and re-export of technical data
including the Software and Product Documentation and any products made by use of technical
data as may be required by the office of Export Administration Regulations, and Licensee hereby
gives such written assurances as may be required under these Regulations to SLC. With respect to
any export transaction under this Agreement, SLC will provide reasonable cooperation to Licensee
at Licensee&#146;s request and sole expense to effect compliance with all applicable export
regulations if any.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">15.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In connection with any use of the Software outside the United States. Licensee agrees
that its export of the Software is regulated, among other laws, rules, and regulations, by
The U.S. Export Administration Act and Executive Orders relating to export. Re-export,
diversion, duplication or resale of the Software without prior authorization as required by
such laws, rules, and regulations, is prohibited. The licenses granted in this Agreement are
conditioned upon the duty of Licensee to comply with all laws, regulations, and Executive
Orders relating to export, including but not limited to the U.S. Export Administration Act.
Licensee shall into export or re-export the Software. Product
Documentation or Products in
violation or contravention of such legal restrictions, and
indemnifies and holds harmless SLC
for any claim, investigation or assertion inconsistent with this duty.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">15.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Licensee shall include a statement similar or substantially similar to the following
statement (or any newer version of the following statement as it may by regulations be revised
from time to time) in any distribution of the Software (Licensee shall include in the
statement the appropriate information called for in the brackets)</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Where the Licensee is the United State Federal Government or Agency, of any agent acting for or on
its behalf in licensing this Program, this following clause shall apply:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">UNITED STATES GOVERNMENT RESTRICTED RIGHTS:
</DIV>
<DIV align="left" style="font-size: 10pt; margin-left: 6%; margin-top: 6pt">Contract No. &#091;__________________________________&#093;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 6%; margin-top: 6pt">Contractor Name &#091;_________________________________&#093;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 6%; margin-top: 6pt">Contractor Address &#091;______________________________&#093;
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">This software and any associated documentation are provided with RESTRICTED RIGHTS. The
Government&#146;s rights to use modify, reproduce, release, perform, display or disclose are restricted
by paragraph (b) (3)&nbsp;of the Rights in Noncommercial Computer Software and Noncommercial Computer
Software Documentation clause at DFAR 252.227-7014 (Jun 1995), and
the other restrictions and terms in paragraph (g)(3)(i) of Rights in
Data-General clause at IAR [ILLEGIBLE]. Alternative III (Jun 87) and paragraph (e)(2)
of the Commercial Computer Software-Restricted Rights clause at FAR 52.227-19 (Jun 1987),
contained in the above identified contract. Any reproduction of computer software or portion
thereof marked with this legend must also reproduce the markings. Any person other than the
Government, who has been provided access to such software must promptly identify the above named
Contractor.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>16.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Right of Prompt Notice.</B></TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">If during the period of twenty-four months after the Effective Date. SLC receives an offer from any
third party to acquire SLC or the Software, or SLC created derivatives of Software
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">SLC agrees to promptly notify Licenses and provide at minimum twenty-one (21)&nbsp;days for Licensee to
present an offer in writing for the acquisition of SLC or the Software.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>17.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Term and Termination.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">17.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement is legally effective on the Effective Date and
is perpetual unless terminated
sooner pursuant to this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">17.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>SLC may terminate this Agreement, and the licenses granted herein (1)&nbsp;if Licensee commits a
material breach of this Agreement and fails to cure such breach within thirty (30)&nbsp;days after
receipt of written notice of such breach. Material breaches by
Licensee shall include, but not
be limited to, unauthorized disclosure of the Software and or Documentation to third parties,
use of the Software outside the scope of the license granted in Section&nbsp;3, failure to timely
pay any amounts when due and failure to indemnify SLC as set forth in this Agreement:(2) upon
written notice to Licensee in the event of an unauthorized assignment, sublicense or transfer
of the Agreement; and/or (3)&nbsp;upon written notice if Licensee breaches any obligations of
confidentiality or proprietary rights.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">17.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>License may terminate this Agreement (1)&nbsp;if SLC commits a material breach of this Agreement
and fails to cure such breach within thirty (30)&nbsp;days after receipt of written notice of such
breach: (2)&nbsp;upon written notice to SLC in the event of an unauthorized assignment sublicense
or transfer of the Agreement, and/or (3)&nbsp;upon written notice if SLC breaches any obligations
of confidentiality or proprietary rights.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">17.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon the effective date of termination of this Agreement if termination is:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">17.4.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>By SLC then Licensee shall pay SLC all fees that have accrued to and or are due to SLC by
Licensee prior to the effective date of expiration or termination; each party shall return all
copies of the other&#146;s Confidential Information in its possession
and/or control; Licenses
shall cease all development, marketing, distribution, and licensing activities under this
Agreement or related to the Software; and, except as otherwise provided in this Agreement, the
rights and licenses granted to Licensee under this Agreement shall immediately cease.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">17.4.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>By Licensee then Licensee shall be granted all the rights and
licenses granted to Licensee under
this agreement so long as Licensee has paid all consideration due to SLC.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">17.4.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except for termination of Licensee&#146;s right to use the
Software pursuant to Section&nbsp;9.2. End-Users
who have taken delivery of, or placed orders for Products prior to the effective date of
expiration or termination shall continue to have the rights to use the Software as
incorporated into the Products. Such End-Users&#146; right to continue to use the Software is
subject to License&#146;s continued payment to SLC, in accordance with the terms of this Agreement,
of all applicable license and other fees associated with such End-Users&#146;
Product use.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">17.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All terms of this Agreement related to confidentiality, indemnification, disclaimer of
warranties, maintenance of records and audit rights, ownership, employee and sub-contractor
non-solicitation and limitations of liability will survive termination or expiration of this
Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>18.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>No Employee/Sub-contractor Solicitation. </B>During the term of this Agreement and for a period
of two (2)&nbsp;years after its termination. Licensee shall not employ, contract with, use, hire
or directly solicit for hire any individual(s) who was or is a SLC employee or sub-contractor
during the term of this Agreement and whom Licensee became aware of in the course and scope of
this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>19.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Use of Marks: Publicity: Marketing.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">19.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The parties agree that all information concerning this Agreement or either of the parties
contained in any written or oral announcement, press release, or other public release of
information, must be pre-approved by both parties but such approval will not be unreasonably
withheld.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">19.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each party may provide, at its sole discretion and cost reasonable cooperation for the other
party&#146;s marketing, advertising, demonstration, distribution and promotional activities for the
Software and Products, as applicable. Such cooperation may include,
without limitation,
activities such as joint press releases, demonstrations, marketing
collateral, sales tools, cooperative presentations to large accounts,
advertisements in trade press, and participation in
trade shows and seminars, as agreed between the parties.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>20.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>General Terms.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement, all Schedules, and all amendments thereto contain the entire understanding of
the parties with respect to the subject matter addressed herein and supersede, replace and
merge all prior understanding, promises, representations and
agreements, whether written or
oral relating thereto. Only a writing signed by both parties may modify this Agreement. No
terms or conditions of either party&#146;s invoice purchase order or other administrative document
shall modify the terms and conditions of this Agreement, regardless of the other party&#146;s
failure to object to such form. The remedies accorded SLC under this Agreement are cumulative
and in addition to those provided by law.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any waiver of a provision of this Agreement or of a party&#146;s right or remedy under this
Agreement must be in writing, signed by that party, to be effective. Failure, neglect, or delay
by a party to enforce the provisions of this Agreement or its rights
or remedies at any time,
will not be deemed a waiver of such party&#146;s rights or remedies and will not affect the
validity of this Agreement, or part thereof, or prejudice such party&#146;s right to take subsequent
actions.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The relationship between SLC and Licensee is that of licensor and licensee. Nothing in this
Agreement shall be construed as creating a relationship between SLC and Licensee of joint
venturers, partners, employer-employee, franchisor-franchisee or agent. Neither party has the
authority to create any obligations for the other, or to bind the other to any representation
or document.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All notices must be in writing and sent either by hand delivery messenger certified mail
return receipt requested: overnight courier: or by facsimile or by e-mail (with a confirming
copy) and shall be effective when received by such party at the
address listed herein or other
address provided in writing.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Neither party shall be responsible for any delay or failure in performance of its obligations
under this Agreement that is caused directly by events, occurrences, or causes beyond the
reasonable control of that party. Such events occurences or causes include without limitation,
strikes, lockouts, riots, acts of war, earthquakes, fire and explosions.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.6</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If any provision of this Agreement is held by a court of competent jurisdiction to be invalid
or unenforceable, such provision will be enforced to the fullest extent that it is valid and
enforceable under applicable law. All other provisions of this Agreement shall remain in full
force and effect.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.7</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Licensee may not assign this Agreement in whole or in part,
without SLC&#146;s prior express written
consent which may be withheld at the SLC&#146;s sole discretion and for any reason except as
provided in the following sentence. SLC agrees it shall approve assignment when a party
acquires majority voting control of Licensee and so requires it or when such party acquires
all of Licensee&#146;s products that utilize Licensee&#146;s private label version of the Software or
their derivative&#146;s thereof. Any attempted assignment without such written consent shall be
void. SLC agrees that Licensee may assign this Agreement to a wholly-owned subsidiary of
Licensee provided that licensee shall remain primarily responsible for its obligations to SLC
under this Agreement. Subject to the foregoing this Agreement will be binding upon and will
inure to the benefit of the parties and their respective successors and assigns.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.8</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement shall be governed by the laws of the State of Michigan (exclusive of its
choice of law rules), and the federal laws of the United States of America. The place of
performance of this Agreement is Washtenaw County, Michigan. Any litigation arising between
the parties in relation to this Agreement shall be initiated and maintained in the Circuit
Court of the Country of Washtenaw. Michigan, or the U.S. District Court for the Eastern
District of Michigan, Southern Division and the parties hereby expressly submit to the
personal jurisdiction and venue of such courts.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">20.8.1
In any action by a party to enforce this Agreement, the prevailing party in such
action shall be awarded all court costs and reasonable
attorneys&#146; fees incurred, including
such costs and attorneys&#146; fees incurred in enforcing and collecting any judgment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>AGREED AND ACCEPTED:</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>Service Level
Corporation,</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>ACE*COMM Corporation</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>a Delaware corporation</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>a Maryland Corporation</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">2929 Plymouth Road, Suite&nbsp;300</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">704 Quince Orchard Road</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Ann Arbor, Michigan 48105 U.S.A.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Gaithersburg, Maryland 20878 U.S.A.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Carl A. Wright
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Steven R. Delmar</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Signature)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Signature)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Carl A. Wright

</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Steven R. Delmar</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 0px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Printed)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Printed)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Title:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">SR. VP &#038; CFO</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 0px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">31 May&nbsp;2005
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Date:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">5/31/05</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 0px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">
</DIV>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Service Level Corporation<BR>
Software License and Support Agreement</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>Schedule&nbsp;A</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>1. Description of Software.</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">The Software is the &#147;SLC Ratchet<SUP style="font-size: 85%; vertical-align: text-top">TM</SUP> Rating System&#148; program as written and delivered
to licensee in source code form along with any related files needed to easily compile and
build the Software. The Software is described in the HTML based Ratchet&#148; Rating System User
documentation as supplied to the Licensee at the time the Agreement is executed.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">The Software includes any maintenance releases of the Software that correct any program errors
during the warranty period.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">Other product enhancements related to the Software may be developed and named separately.
These are not included in the Software.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>2. Training.</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">SLC will make available training programs for Licensee&#146;s employees at Licensee&#146;s location or
SLC location. Training materials used in the instruction are provided by SLC. Licensee is
responsible for all transportation expenses for SLC&#146;s employees to and from Licensee&#146;s
location, including all reasonable daily lodging and food expenses.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Types of Training
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Ratchet User Training</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This is four days of training focused on teaching a user now to define and implement rating
plans . It includes training on controlling the input and output structures that they
process. This normally bridges directly into helping a customer implement and test their rate
plans.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Ratchet Installation Configuration Training</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This is one-day training class. It includes installing an actual system. It assumes that
you&#146;ve already installed and SQL Server Oracle database.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Sales Demo Training</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This is an informal tutorial where existing PowerPoint presentations can be reviewed along
with run-thrus of Ratchet demos with existing demo databases. This is two days long.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>API training</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">SEC
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Licensee</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Service Level Corporation<BR>
Software License and Support Agreement</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>Schedule&nbsp;B</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>1. OEM License Fee</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">On
the Effective Date, Licensee shall pay an OEM License Fee of $200,000,00 (two hundred thousand
dollars) USD and subject to ACE*COMM Board of Directors approval. ACE*COMM common stock equivalent
to $750,000 (seven hundred fifty thousand dollars) to SLC for Licensee&#146;s site license to the
Software. The number of shares of common stock is determined by dividing the 750,000 amount by
the &#147;common stock share price&#148; and rounding up to the next whole share.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The &#147;common stock share price&#148; is the volume weighted average of the closing price during the 10
(ten)&nbsp;trading days prior to the Effective Date. In the event that the share price on the last
trading day of this averaging period is less than or equal to 75% of the &#147;common stock share
price&#148;. SLC retains the right to reconsider or withdraw from this Agreement without penalty and
will refund any licensee fee paid. This payment shall accompany the executed Agreement and precede
delivery of the Software.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">License shall cause the stock issued to SLC pursuant to this Agreement to be filed with appropriate
securities regulators no later than October&nbsp;15, 2005. In the event that the shares are not filed by
this date Licensee shall redeem the share for $750,000 in cash upon
the written request of SLC.
Licensee shall pay SLC for the shares within three weeks.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Licensee shall also pay $50,000 (fifty thousand dollars) at the end of twelve months following the
Effective Date. The OEM License Fee is partially refundable, as defined in the related section in
the event of termination during the initial Acceptance Period.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>2. Private Labeling of the Software for Licensee</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">SLC shall at no additional cost provide a version of the Software where Licensee can easily change
all mention of &#147;Service Level Corporation&#148;, with the exception that copyright notices shall remain
unchanged. Licensee shall forever preserve all SLC copyright notices.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>3. Fee for Non-covered Warranty Services</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Upon
Licensee request. SLC shall provide non-covered warranty services. It SLC can do this
work for you from out Ann Arbor offices, the fee is $1,200/day person. For work at another
location, the fee is $1,600&nbsp;day person plus direct travel expense. After the first year of this
Agreement, SLC shall adjust the labor rate for sales and customer installation services according
to changes in the Consumer Price Index.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">SEC
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Licensee</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">This is training in the creation of programs that use the rating server and the data servers via
Rendezvous message. This is an informal tutorial where an experienced programmer works with your
programmer(s) to create several programs that use the API.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">We will provide you with example programs that use the API at no charge.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">SEC
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Licensee</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>4
<FILENAME>w13610a2exv23w2.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
<HTML>
<HEAD>
<TITLE>exv23w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="right" style="font-size: 10pt"><b>Exhibit 23.2</b>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We have issued our report dated August&nbsp;19, 2005 accompanying the consolidated financial statements
and schedule of ACE*COMM Corporation appearing in Annual Report on Form 10-K/A for the year ended
June&nbsp;30, 2005 which is incorporated by reference in this Registration Statement. We consent to the
incorporation by reference in the Registration Statement of the aforementioned report and to the
use of our name as it appears under the caption &#147;Experts.&#148;
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">/s/ Grant Thornton LLP

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Vienna, Virginia<BR>
February&nbsp;6, 2006

</DIV>


<P align="center" style="font-size: 10pt">
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
