-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 RyAjXLLYMIPAm3MQmtkwgB2c+nwTQZHx9zGNOyk1XcVpVT3PmsIuBbtPaN1h9LP2
 8TtIM9Q81sMkR78HYmGhDQ==

<SEC-DOCUMENT>0000950103-10-000193.txt : 20100127
<SEC-HEADER>0000950103-10-000193.hdr.sgml : 20100127
<ACCEPTANCE-DATETIME>20100127173333
ACCESSION NUMBER:		0000950103-10-000193
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100126
FILED AS OF DATE:		20100127
DATE AS OF CHANGE:		20100127

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Slusky Alexander R
		CENTRAL INDEX KEY:			0001357262

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20562
		FILM NUMBER:		10551456

	MAIL ADDRESS:	
		STREET 1:		456 MONTGOMERY STREET
		STREET 2:		19TH FLOOR
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94104

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COREL CORP
		CENTRAL INDEX KEY:			0000890640
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				101151819
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1130

	BUSINESS ADDRESS:	
		STREET 1:		1600 CARLING AVE
		STREET 2:		OTTAWA
		CITY:			ONTARIO CANADA
		STATE:			A6
		ZIP:			K1Z 8R7
		BUSINESS PHONE:		6137288200

	MAIL ADDRESS:	
		STREET 1:		1600 CARLING AVENUE
		STREET 2:		OTTAWA
		CITY:			ONTARIO CANADA
		STATE:			A6
		ZIP:			K1Z 8R7
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>dp16289_4-sluskyex.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-01-26</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000890640</issuerCik>
        <issuerName>COREL CORP</issuerName>
        <issuerTradingSymbol>CREL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001357262</rptOwnerCik>
            <rptOwnerName>Slusky Alexander R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O VECTOR CAPITAL CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>ONE MARKET STREET, STEUART TOWER, 23FL</rptOwnerStreet2>
            <rptOwnerCity>SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94105</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.17</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2010-01-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>29888</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>2.83</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2015-09-30</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>29888</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>13.03</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2010-01-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2017-04-24</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>15000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The options were cancelled by Corel Corporation in connection with the consolidation of its outstanding shares.  The options
 were cashed out at the difference between the strike price of the option and the U.S. $4.00 per share price paid to the
 shareholders in the consolidation.</footnote>
        <footnote id="F2">The options were cancelled by Corel Corporation in connection with the consolidation of its outstanding shares.  Because the
 strike price was greater than the U.S. $4.00 per share price paid to the shareholders in the consolidation, Mr. Slusky did
 not receive any payment in connection with the cancellation of the options.</footnote>
        <footnote id="F3">Options vest over 4 years, beginning on 10/01/05, with 25% vesting 1 year after the grant and quarterly vesting thereafter.</footnote>
        <footnote id="F4">Options vest over 4 years, beginning on 04/24/07, with 25% vesting 1 year after the grant and quarterly vesting thereafter.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Alexander R. Slusky</signatureName>
        <signatureDate>2010-01-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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