FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Slusky Alexander R 		2. Issuer Name and Ticker or Trading Symbol

COREL CORP [ CREL ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

C/O VECTOR CAPITAL CORPORATION, 1 MARKET STREET, STEUART TOWER 23RD FL. 		3. Date of Earliest Transaction (MM/DD/YYYY)

12/4/2009
(Street)

SAN FRANCISCO, CA 94105
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

12/4/2009 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   12/4/2009     J (1)    3009743   A $4.00   25276081   I   See footnote   (2)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:
( 1)  The securities were acquired on December 4, 2009 in the subsequent offering period pursuant to Corel Holdings, L.P.'s tender offer as set forth in the Tender Offer Statement and Rule 13E-3 Transaction Statement filed under cover of Schedule TO on October 28, 2009, as amended and supplemented, by Corel Holdings, L.P.
( 2)  The reported securities are owned directly by Corel Holdings, L.P., a Cayman Islands limited partnership. The sole general partner of Corel Holdings, L.P. is Vector Capital Partners II International, Ltd., which is wholly owned by VCPII International LLC. The managing member of VCPII International LLC is Alexander Slusky. Mr. Slusky disclaims beneficial ownership of these Shares, except to the extent of his pecuniary interest in them.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Slusky Alexander R
C/O VECTOR CAPITAL CORPORATION
1 MARKET STREET, STEUART TOWER 23RD FL.
SAN FRANCISCO, CA 94105 		X X

Vector Capital Partners II International, Ltd.
C/O VECTOR CAPITAL CORPORATION
1 MARKET STREET, STEUART TOWER, 23RD FL.
SAN FRANCISCO, CA 94105
X

Corel Holdings, L.P.
C/O VECTOR CAPITAL CORPORATION
1 MARKET STREET, STEUART TOWER, 23RD FL.
SAN FRANCISCO, CA 94105
X


Signatures
/s/ Alexander Slusky 12/8/2009
** Signature of Reporting Person Date

/s/ Alexander Slusky, Director, for Vector Capital Partners II International, Ltd. 12/8/2009
** Signature of Reporting Person Date

/s/ Alexander Slusky, Director, By Vector Capital Partners II International, Ltd., Its General Partner, for Corel Holdings, L.P. 12/8/2009
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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