Exhibit 10.23

[LOGO]

 

February 28, 2003

 

Andrew Garard

Reuters Limited

85 Fleet Street

London    EC4P 4AJ

 

Re:    TIBCO BusinessFactor

 

Dear Andrew:

 

To confirm our discussion this morning, TIBCO Software Inc. (“TIBCO”) hereby
grants Reuters Limited (“Reuters”) the right and license to distribute the
object code version of TIBCO BusinessFactor solely within the financial services
industry on an unlimited, royalty-free basis for a period of eighteen (18)
months from the date of this letter. This right and license shall be governed by
and construed in accordance with the terms and conditions of that certain First
Amended and Restated License, Maintenance and Distribution Agreement, effective
May 28, 1999, by and between TIBCO and Reuters (the “Agreement”).

 

In consideration for TIBCO granting this license, Reuters hereby agrees to pay
to TIBCO the sum of US$2,000,000 due and payable net 30 days from the date of
this letter. This sum includes bronze level maintenance for the term of the
Agreement.

 

All other terms and conditions of the Agreement are unmodified and remain in
full force and effect.

 

Please indicate your acceptance to the above terms by signing in the space
provided below.

 

Sincerely yours

TIBCO Software Inc.

[STAMP]

 

/s/    GINGER KELLY

--------------------------------------------------------------------------------

Ginger Kelly

Vice President, Corporate Controller

 

Agreed and Accepted

Reuters Limited

 

/s/    ANDREW GARARD

--------------------------------------------------------------------------------

Name: Andrew Garard

Title: Deputy General Counsel

Date: 28/2/03

 

TIBCO Software Inc. n 3303 Hillview Avenue, Palo Alto, CA 94304 n TEL:
+1-650-846-1000 n FAX +1-650-846-1005 n www.tibco.com