Document:

<PAGE>   1

                                                                EXHIBIT 10.25.1

                               AMENDMENT NO. 1 TO
                                CREDIT AGREEMENT

         This Amendment No. 1 to Credit Agreement (this "Amendment"), is dated
as of September 29, 2000 and effective as of the Effective Date (as defined
below), by and between NETZEE, INC., a Georgia corporation ("Borrower") and THE
INTERCEPT GROUP, INC. ("Lender").

                                    Recitals

         Borrower and Lender are parties to that Credit Agreement dated as of
May 31, 2000 (the "Credit Agreement"; capitalized terms used herein and not
otherwise defined herein shall have the meanings ascribed to them in the Credit
Agreement).

         The parties have agreed to make certain modifications to the terms of
the Credit Agreement, as more particularly set forth herein.

         NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

         1.       General. Upon and after the date hereof, all references to the
Credit Agreement in that document or in any other Loan Document shall mean the
Credit Agreement as amended hereby. Except as expressly provided herein, the
execution and delivery of this Amendment does not and will not amend, modify or
supplement any provision of, or constitute a consent to or a waiver of any
noncompliance with the provisions of, the Credit Agreement, and, except as
specifically provided in this Amendment, the Credit Agreement shall remain in
full force and effect and is hereby ratified and confirmed.

         2.       Amendments. Effective as of the Effective Date (as defined
below), the Credit Agreement is amended as follows:

                  (a)      Section 1.01 of the Credit Agreement is hereby
         amended by adding the following new defined term:

                           "Harland Purchase Agreement" means that certain
                  Asset Purchase Agreement dated as of September 29, 2000,
                  among the Borrower, John H. Harland Company, Concentrex
                  Incorporated, Meca Software, L.L.C. and Moneyscape Holdings,
                  Inc.

                  (b)      Section 2.03(b)(iii) of the Credit Agreement is
         hereby amended by deleting such section in its entirety and
         substituting the following therefor:

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                           "(iii)   The Borrower shall prepay any outstanding
                  principal amount of the Revolving Credit Advances, and the
                  Revolving Commitment shall be correspondingly immediately,
                  automatically and permanently reduced, in an amount equal to
                  100% of the Net Proceeds of any issuance of capital stock or
                  other equity interests of the Borrower or any Subsidiary
                  other than (a) an issuance of capital stock or other equity
                  interests of the Borrower to the Borrower or a Subsidiary (b)
                  an issuance of capital stock or other equity interests of the
                  Borrower made in connection with an acquisition that is
                  permitted under Section 8.04 or approved in writing by the
                  Lender, (c) issuance by the Borrower of Options exercisable
                  for Common Stock pursuant to that certain Netzee, Inc. 1999
                  Stock Option and Incentive Plan, (d) the issuance by the
                  Borrower of its Series B Preferred Stock, and (e) the
                  issuance by the Borrower of common stock pursuant to the
                  Harland Purchase Agreement at the Second Closing (as defined
                  in the Harland Purchase Agreement). The Borrower shall make
                  the required mandatory prepayment hereunder on the date not
                  later than three calendar days after the receipt by the
                  Borrower or such Subsidiary of the Net Proceeds of such
                  issuance of capital stock."

                  (c)      Section 8.01 of the Credit Agreement is hereby
         amended by deleting clause (a) of such Section in its entirety and
         substituting the following therefor:

                           "(a)     EBITDA. EBITDA to be less than the number
                  specified in the table set forth below for such period:

<TABLE>
<CAPTION>
                        From                           To and Including                      EBITDA
                        ----                           ----------------                      ------

                  <S>                                <C>                                  <C>
                  July 1, 2000                       September 30, 2000                   $(3,200,000)
                  October 1, 2000                    December 31, 2000                     (2,000,000)
                  January 1, 2001                    March 31, 2001                          (600,000)
                  April 1, 2001                      June 30, 2001                            800,000
                  July 1, 2001                       September 30, 2001                     2,200,000
                  October 1, 2001                    December 31, 2001                      4,000,000  "
</TABLE>

                  (d)      Section 8.02 of the Credit Agreement is hereby
         amended by redesignating the current clauses (e) and (f) as clauses
         (f) and (g), respectively, and adding the following new clause (f):

                           "(e)     Debt incurred in connection with the
                  issuance of notes pursuant to the Harland Purchase
                  Agreement;"

                  (e)      Section 8.07 of the Credit Agreement is hereby
         amended by deleting clause (a) of such Section in its entirety and
         substituting the following therefor:

                  "(a) Declare or pay any dividend or other distribution,
                  direct or indirect, on account of any shares of any common
                  stock or other equity interest of the Borrower now or
                  hereafter outstanding, except (i) a dividend or distribution

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                  payable solely in shares of that class of common stock or
                  other equity interest to the holders of that class, or (ii)
                  dividends payable to holders of shares of the Series B
                  Preferred Stock of the Borrower provided that the aggregate
                  amount paid in respect of such dividends shall not exceed
                  $520,000 in any fiscal year of the Borrower."

                  (f)      Section 8.12 of the Credit Agreement is hereby
         amended by deleting such section in its entirety and substituting the
         following therefor:

                           "SECTION 8.12. ISSUANCE OF CAPITAL STOCK. Issue any
                  shares, interests, warrants, participations or other
                  equivalents (however designated) of any Loan Party; except
                  that (a) the Borrower may issue common stock or warrants or
                  options exercisable for common stock, (b) any Subsidiary of
                  the Borrower may issue shares of capital stock to the
                  Borrower or any other Subsidiary, and (c) the Borrower may
                  issue shares of its Series B Preferred Stock."

                  (g)      Schedule 5.01(e) to the Credit Agreement is hereby
         amended by adding the following additional item:

                           "Debt incurred in connection with the issuance of
                  notes pursuant to the Harland Purchase Agreement."

         3.       Representations and Warranties.  Borrower hereby represents
and warrants to Lender as follows:

                  (a)      Authorization of Amendment, Etc. Borrower has the
         right and power, and has taken all necessary action to authorize it,
         to execute, deliver and perform this Amendment in accordance with its
         terms. This Amendment has been duly executed and delivered by Borrower
         and is a legal, valid and binding obligation of Borrower, enforceable
         against Borrower in accordance with its terms.

                  (b)      Representations in Credit Agreement.  All of the
         representations set forth in the Credit Agreement, as modified hereby,
         are accurate in all material respects as of the date hereof.

         4.       Loan Documents.  Borrower and Lender agree and acknowledge
that this Amendment shall constitute a "Loan Document" under the Credit
Agreement.

         5.       No Implied Consent or Waiver. Except as expressly set forth
herein, the execution and delivery of this Amendment does not and will not
constitute a consent to or a waiver of any noncompliance with the provisions of
the Credit Agreement.

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         6.       Counterparts. This Amendment may be executed by each party to
this Amendment upon a separate copy, and in such case one counterpart of this
Amendment shall consist of enough of such copies to reflect the signature of
all of the parties to this Amendment. This Amendment may be executed in two or
more counterparts, each of which shall be deemed an original, and it shall not
be necessary in making proof of this Amendment or its terms to produce or
account for more than one of such counterparts.

         7.       Governing Law. This Amendment shall be governed by, and
construed in accordance with, the internal laws of the State of Georgia.

         8.       Successors and Assigns. This Amendment shall be binding upon
and inure to the benefit of the parties hereto and their respective successors
and assigns.

         9.       Effectiveness of This Amendment. This Amendment shall take
effect on the date of the Borrower's issuance of its Series B Preferred Stock
in exchange for its Series A Preferred Stock (the "Effective Date").

                     [Signatures appear on following page]

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         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be executed by their respective officers hereunder duly authorized as of the
day and year first written above.

                                   BORROWER:

                                   NETZEE, INC.

                                   By:      /s/ Richard S. Eiswirth
                                       ----------------------------------------
                                     Title:          SEVP & CFO
                                           ------------------------------------

                                    LENDER:

                                     THE INTERCEPT GROUP, INC.

                                     By:      /s/ John W. Collins
                                         --------------------------------------
                                       Title:                  CEO
                                              ---------------------------------<PAGE>   1
                                                                   EXHIBIT 10.26

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT (this "Agreement") is made and entered into
by and between NETZEE, INC., a Georgia corporation (the "Company") and CATHERINE
G. SILVER, an individual resident of the State of Georgia (the "Executive"), to
be effective as of the 26th day of July, 2000 (the "Effective Date).

         The Executive is currently employed by the Company as the Company's
President and General Manager. The Company and the Executive desire to adopt
this Agreement in consideration for the outstanding efforts and achievements of
the Executive during her employment with the Company.

         In this regard, the Company desires to continue the employment of the
Executive as its President and General Manager, and the Executive is willing to
continue to serve the Company on the terms and conditions provided herein.

Defined Terms: Capitalized terms used in this Agreement that are not otherwise
defined herein are defined at Section 18 hereof.

1.       Employment. The Company hereby employs the Executive, and the Executive
         hereby agrees to serve the Company, as the President and General
         Manager of the Company, upon the terms and conditions set forth herein.
         The Executive shall have such authority and responsibilities as are
         consistent with her position as provided herein and as may be set forth
         in by Bylaws or assigned by the Chief Executive Officer of the Company
         (the "CEO") from time to time. The Executive shall report to the CEO.

         The Executive shall devote her full business time, attention, skill,
         and efforts to the performance of her duties hereunder, except during
         periods of illness or periods of vacation and leaves of absence
         consistent with Company policy. This employment relationship between
         the Executive and the Company shall be exclusive; provided, however,
         the Executive may devote reasonable periods of time (and be exclusively
         entitled to all compensation and other income related thereto) to
         continue to provide consulting services to other persons and
         organizations, to serve as a director or advisor to other
         organizations, to perform charitable and other community activities,
         and to manage her personal investments; provided, further, however,
         that such activities do not interfere with the performance of her
         duties hereunder and are not adverse to the interests of the Company.

         Unless otherwise agreed to by the Executive, the Executive shall be
         headquartered at the Company's offices in and around Atlanta, Georgia
         but shall do such traveling as is reasonably required of her in the
         performance of her duties.

2.       Term. Unless earlier terminated as provided herein, the Executive's
         employment under this Agreement shall commence as of the Effective Date
         and shall continue until August 31, 2002 (the "Initial Term"). This
         Agreement and the Executive's employment

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         hereunder shall automatically continue for successive one-year periods
         (the "Extended Term"), with Executive to receive a minimum of seven
         percent (7%) increase to the Executive's then existing bas salary (as
         described at Section 3.a. below) at the beginning of each successive
         year. (The Initial Term and the Extended Term shall be individually and
         collectively referred to herein as the "Term.")

3.       Compensation Benefits.

         a.       The Company shall pay to the Executive a base salary at a rate
                  of not less than $200,000 per annum, in accordance with the
                  salary payment practices of the Company in effect from time to
                  time.

                  On or before each September 15 of the Term (beginning
                  September 1, 2000) the CEO (or Compensation Committee) shall
                  review the base salary of the Executive and increase (but not
                  decrease) such base salary by an amount determined in the
                  discretion of the CEO (or Compensation Committee).

         b.       During the Term, the Executive shall be eligible to
                  participate in any management incentive programs established
                  by the Company and to receive incentive compensation based
                  upon achievement of targeted levels of performance and such
                  other criteria as the CEO (or Compensation Committee) may
                  establish from time to time. In addition, the CEO (or the
                  Compensation Committee) shall annually consider (on or before
                  each September 15) the Executive's performance and determine
                  if additional bonus is appropriate.

         c.       The Executive may participate in any executive stock incentive
                  plans established by the Company from time to time and shall
                  be eligible for the grant of stock options, stock, and/or
                  other awards provided thereunder. Additionally, the Board (or
                  the Compensation Committee), upon recommendation by the CEO,
                  shall annually consider (on or before each September 15) the
                  Executive's performance and determine if additional grants of
                  stock options, stock, and/or other awards are appropriate. Any
                  grants of stock options shall be described in and subject to
                  the terms and conditions of a separate stock option agreement
                  between the Company and the Executive.

         d.       The Executive shall continue to participate in all retirement,
                  welfare, deferred compensation, life and health insurance
                  (including health insurance for Executive's spouse and his
                  dependants), and other benefit plans or programs of the
                  Company now or hereafter applicable to the Executive or
                  applicable generally to executives of the Company or to a
                  class of executives that includes senior executives of the
                  Company; provided, however, that during any period during the
                  Term that the Executive is subject to a Disability, and during
                  the 180-day period of physical or mental infirmity leading up
                  to the Executive's Disability, the amount of the Executive's
                  compensation provided under Section 3.a. shall be reduced by
                  the sum of the amounts, if any, paid to the Executive for the
                  same period under any disability benefit or pension plan of
                  the company or any of its subsidiaries.

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         e.       The Company shall provide to the Executive an automobile owned
                  or leased by the Company of a make and model appropriate to
                  the Executive's status (in the reasonable business judgment of
                  the Executive) or, in lieu thereof at the Executive's option,
                  shall provide the Executive with a monthly allowance of not
                  less than $800 to partially cover the cost of an automobile
                  owned or leased by the Executive.

         f.       The Executive shall be entitled to four (4) weeks paid
                  vacation (in addition to Company-wide holiday periods) each
                  year during the Term, to be taken in accordance with the
                  Company's vacation policies for executives, as in effect from
                  time to time.

         g.       The Company shall reimburse the Executive's expenses for dues
                  and capital assessments (but not initiation fees) of one (1)
                  country and (1) dining club membership currently held (or to
                  be held) by the Executive; provided, however, that if the
                  Executive during the term of her employment with the Company
                  ceases her membership in any such clubs and any bonds or other
                  capital payments made by the Company are repaid to the
                  Executive, the Executive shall pay over such payments to the
                  Company.

         h.       The Company shall reimburse the Executive for first-class
                  travel and accommodations, seminar, and other expenses related
                  to the Executive's duties that are incurred and accounted for
                  in accordance with the practices of the company, as in effect
                  from time to time.

                  Upon the prior approval of the CEO, the Executive shall be
                  entitled to personal use of assets of the company, free of
                  charge or assessment, whether or not such personal use is
                  separate or in conjunction with a business purpose.

         i.       The Company agrees that the Executive shall be entitled to
                  invest in venture capital and similar investments whether or
                  not the Company also participates in such investments.

4.       Termination.

         a.       The Executive's employment under this Agreement may be
                  terminated prior to the end of the Initial Term, or if
                  extended, the Extended Term, only as follows:

                  i.       upon the death of the Executive;

                  ii.      by the Company due to the Disability of the Executive
                           upon delivery of a Notice of Termination to the
                           Executive;

                  iii.     by the Company for Cause upon delivery of a Notice of
                           Termination to the Executive;

                  iv.      by the Company without Cause upon delivery of a
                           Notice of Termination;

                  v.       following a Change in Control, by the Executive upon
                           delivery of a Notice of Termination to the Company
                           within a 90-day period beginning on the 30th day

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                           after any occurrence of a Change in Control or within
                           a 90-day period beginning on the one year anniversary
                           of the occurrence of any Change in Control;

                  vi.      by the Executive upon a material breach of this
                           Agreement by the Company, upon delivery of a Notice
                           of Termination to the Company at least thirty (30)
                           days prior to the Termination Date and chance to cure
                           therein; and

                  vii.     by the Executive upon submitting her resignation in
                           writing to the Company at least thirty (30) days
                           prior to the Termination Date.

b.       If the Executive's employment with the Company shall be terminated
         during the Term (i) by reason of the Executive's death, or (ii) by the
         Company for Disability or Cause, the company shall pay to the Executive
         (or in the case of her death, the Executive's estate) within 15 days
         after the Termination Date, a lump sum cash payment equal to the
         Accrued Compensation and, if such termination is other than by the
         Company for Cause, the Pro Rata Bonus.

c.       If the Executives employment with the Company shall be terminated
         during the Term pursuant to Sections 4.a (iv), (v), or (vi), the
         Executive shall be entitled to all of the following:

         i.       the Company shall pay to the Executive in cash, as a lump-sum,
                  within 15 days of the Termination Date, an amount equal to all
                  Accrued Compensation and the Pro Rata Bonus;

         ii.      the Company shall pay to the Executive in cash, as a lump-sum,
                  within 15 days of the Termination Date, an amount equal to the
                  base salary (as described in Section 3.a.), then in effect,
                  that would otherwise have been payable to the Executive during
                  the Term if such Term was not earlier terminated; provided,
                  however, if the otherwise remaining Term is less than 365
                  days, such remaining Term shall automatically be deemed to be
                  365 days;

         iii.     the Company shall pay to the Executive in cash, as a lump-sum,
                  within 15 days of the Termination Date an amount equal to the
                  product of the Bonus Amount, multiplied by the number of
                  months that were otherwise remaining in the Term, divided by
                  12;

         iv.      the Company shall pay to the Executive in cash, as a lump-sum,
                  within 15 days of the Termination Date, an amount equal to
                  those amounts described in Sections 3.e. and 3.g. that would
                  have otherwise been payable during the Term if such Term was
                  not earlier terminated;

         v.       upon a Termination Date occurring prior to the earlier of (A)
                  an Initial Public Offering, or (B) the date in which the
                  Company becomes subject to the reporting requirements set
                  forth in the Securities Exchange Act of 1934, the Company
                  shall, within 15 days after the Termination Date, offer to
                  repurchase all of the Company's capital stock and other debt
                  and securities of the

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                  Company (collectively, the "Company Equity") then owned by the
                  Executive, at a purchase price equal to the Fair Market Value
                  of such Company Equity, as determined in accordance with the
                  provisions below. The question of the Fair Market Value of the
                  Company Equity shall be submitted to three impartial and
                  reputable appraisers. The Executive and the Company shall each
                  select one appraiser, and such appraisers shall select a
                  third, independent appraiser. The three appraisers shall
                  thereafter proceed as expeditiously as possible to determine
                  (by concurrence of a majority of such appraisers) the Fair
                  Market Value of the Company Equity, and the appraisers shall
                  deliver an appraisal report to the Executive and the Company
                  as soon as practicable after it is completed. The
                  determination of the question of the Fair Market Value of the
                  Company Equity by such appraisers shall be final and binding
                  on the Executive and the Company for purposes of this
                  Agreement. The Company shall pay the reasonable fees and
                  expenses of such appraisers. For the purposes hereof, "Fair
                  Market Value" shall mean the relevant percentage of the fair
                  value of the business of the Company represented by the
                  Company Equity as to which such determination is being made,
                  which shall be determined on a going concern basis and as
                  between a willing seller and a willing buyer, taking into
                  account the Company's financial condition, performance, market
                  share and other relevant criteria, but not taking into account
                  the absence of a public market for the shares or that the
                  shares constitute a minority interest in the Company.

d.       The Executive shall not be required to mitigate the amount of any
         payment provided for in this Agreement by seeking other employment or
         otherwise, and no such payment shall be offset nor reduced by the
         amount of any compensation or benefits provided to the Executive in any
         subsequent employment.

e.       In the event that any payment or benefit (within the meaning of Section
         280G(b)(2) of the Internal Revenue Code of 1986, as amended (the
         "Code")) to the Executive or for her benefit paid or payable or
         distributed or distributable pursuant to the terms of this Agreement or
         otherwise in connection with, or arising out of, her employment with
         the Company or a change in ownership or effective control of the
         Company or of a substantial portion of its assets (a "Payment" or
         "Payments"), would be subject to the excise tax imposed by Section 4999
         of the Code and/or any interest or penalties are incurred by the
         Executive with respect to such excise tax (such excise tax, together
         with any such interest and penalties, are hereinafter collectively
         referred to as the "Excise Tax"), then the Executive shall promptly
         receive an additional payment (a "Gross-Up Payment") in an amount such
         that after payment by the Executive of all taxes (including any
         interest or penalties, other than interest and penalties imposed by
         reason of the Executive's failure to file timely a tax return or pay
         taxes shown due on her return, imposed with respect to such taxes and
         the Excise Tax, including any Excise Tax imposed upon the Gross-Up
         Payment, the Executive would retain an amount equal to such original
         payment or benefit.

f.       The severance pay and benefits provided for in this Section 4 shall be
         in lieu of any other severance or termination pay to which the
         Executive may be entitled under any

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                  Company severance or termination plan, program, practice or
                  arrangement. The Executive's entitlement to any other
                  compensation or benefits shall be determined in accordance
                  with the Company's executive benefit plans and other
                  applicable programs, policies and practices then in effect.

5.       Protection of Trade Secrets and Confidential Information.

         a.       Through exercise of her rights and performance of her
                  obligations under this Agreement, Executive will be exposed to
                  "Trade Secrets" and "Confidential Information" (as those terms
                  are defined below). "Trade Secrets" shall mean information or
                  data of about the Company or any affiliated entity, including,
                  but not limited to, technical or nontechnical data, formulas,
                  patterns, compilations, programs, devices, methods,
                  techniques, drawings, processes, financial data, financial
                  plans, products plans, or lists of actual or potential
                  customers, clients, distributors, or licensees, that (i)
                  derive economic value, actual or potential, from not being
                  generally known to, and not being readily ascertainable by
                  proper means by, other persons who can obtain economic value
                  from their disclosure or use; and (ii) are the subject of
                  efforts that are reasonable under the circumstances to
                  maintain their secrecy. To the extent that the foregoing
                  definition is inconsistent with a definition of "trade secret"
                  mandates under applicable law, the latter definition shall
                  govern for purposes of interpreting Executive's obligations
                  under this Agreement or except with Company's prior written
                  permission, Executive shall not use, redistribute, market,
                  publish, disclose or divulge to any other person or entity any
                  Trade Secrets of the Company. The Executive's obligations
                  under this provision shall remain in force (during and after
                  the Term) for so long as such information or data shall
                  continue to constitute a "trade secret" under applicable law.
                  Executive agrees to cooperate with any and all confidentiality
                  requirements of the Company and Executive shall immediately
                  notify the Company of any unauthorized disclosure or use of
                  any Trade Secrets of which Executive becomes aware.

         b.       The Executive agrees to maintain in strict confidence and,
                  except as necessary to perform her duties for the Company, not
                  to use or disclose any Confidential Business Information at
                  any time during the term of her employment and for a period of
                  one year after the later of (i) the Executive's last date of
                  employment and (ii) the last day of the period with respect to
                  which the Executive received compensation by reason of her
                  termination of employment. "Confidential Business Information"
                  shall mean any non-public information of a competitively
                  sensitive or personal nature, other than Trade Secrets,
                  acquired by the Executive, directly or indirectly, in
                  connection with the Executive's employment (including her
                  employment with the Company prior to the date of this
                  Agreement), including (without limitation) oral and written
                  information concerning the Company or its affiliates relating
                  to financial position and results of operations (revenues,
                  margins, assets, net income, etc.), annual and long-range
                  business plans, marketing plans and methods, account invoices,
                  oral or written customer information, and personnel
                  information. Confidential Business Information also includes
                  information recorded in manuals, memoranda, projections,
                  minutes, plans, computer programs, and records, whether or not
                  legended or otherwise identified by the Company and its
                  affiliates as Confidential Business Information, as

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                  well as information that is the subject of meetings and
                  discussions and not so recorded; provided, however, that
                  Confidential Business Information shall not include
                  information that is generally available to the public, other
                  than as a result of disclosure, directly or indirectly, by the
                  Executive, or was available to the Executive on a
                  non-confidential basis prior to its disclosure to the
                  Executive.

         c.       Upon termination of employment, the Executive shall leave with
                  the Company all business records relating to the Company and
                  its affiliates including, without limitation, all contracts,
                  calendars, and other materials or business records concerning
                  its business or customers, including all physical, electronic,
                  and computer copies thereof, whether or not the Executive
                  prepared such materials or records herself. Upon such
                  termination, the Executive shall retain no copies of any such
                  materials.

         d.       As set forth above, the Executive shall not disclose Trade
                  Secrets or Confidential Business Information. However, nothing
                  in this provision shall prevent the Executive from disclosing
                  Trade Secrets or Confidential Business Information pursuant to
                  a court order or court-issued subpoena, so long as the
                  Executive first notifies (unless such notice is impracticable
                  or impossible) the Company of said order or subpoena in
                  sufficient time to allow the Company to seek an appropriate
                  protective order. The Executive agrees that if she receives
                  any formal or informal discovery request, court order, or
                  subpoena requesting that she disclose Trade Secrets or
                  Confidential Business Information, she will immediately notify
                  the Company and provide the Company with a copy of said
                  request, court order, or subpoena.

6.       Non-Solicitation and Related Matters.

         a.       If the Executive is terminated for Cause or if the Executive
                  resigns without Adequate Justification, then for a period of
                  two years following the date of termination, the Executive
                  shall not (except on behalf of or with the prior written
                  consent of the Company) either directly or indirectly, on the
                  Executive's own behalf or in the service or on behalf of
                  others, (i) solicit, divert, or appropriate to or for a
                  Competing Business, or (ii) attempt to solicit, divert, or
                  appropriate to or for a Competing Business, any person or
                  entity that was a customer or prospective customer of the
                  Company on the date of termination and with whom the Executive
                  had direct material contact within twelve months of the
                  Executive's last date of employment.

         b.       If the Executive is terminated for Cause or if the Executive
                  resigns without Adequate Justification, then for a period of
                  two years following the date of termination, the Executive
                  shall not, either directly or indirectly, on the Executive's
                  own behalf or in the service or on behalf of others, (i)
                  solicit, divert, or hire away, or (ii) attempt to solicit,
                  divert, or hire away any employee of, or consultant to, the
                  Company of any of its affiliates engaged or experienced in the
                  Business, regardless of whether the employee or consultant is
                  full-time or temporary, the employment or engagement is
                  pursuant to written agreement, or the employment is for a
                  determined period or is at will.

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         c.       The Executive acknowledges and agrees that great loss and
                  irreparable damage would be suffered by the Company if the
                  Executive should breach or violate any of the terms or
                  provisions of the covenants and agreements set forth in this
                  Section 6. The Executive further acknowledges and agrees that
                  each of these covenants and agreements is reasonably necessary
                  to protect and preserve the interests of the Company. The
                  parties agree that money damages for any breach of clauses (a)
                  and (b) of this Section 6 will be insufficient to compensate
                  for any breaches thereof, and that the Executive or any of the
                  Executive's affiliates, as the case may be, will, to the
                  extent permitted by law, waive in any proceeding initiated to
                  enforce such provisions any claim or defense that an adequate
                  remedy at law exists. The existence of any claim, demand,
                  action, or cause of action against the Company, whether
                  predicated upon this Agreement or otherwise, shall not
                  constitute a defense to the enforcement by the Company of any
                  of the covenants or agreements in this Agreement; provided,
                  however, that nothing in this Agreement shall be deemed to
                  deny the Executive the right to defend against this
                  enforcement on the basis that the Company has no right to its
                  enforcements under the terms of this Agreement.

         d.       The Executive acknowledges and agrees that: (i) the covenants
                  and agreements contained in clauses (a) through (e) of this
                  Section 6 are the essence of this Agreement; (ii) that the
                  Executive has received good, adequate and valuable
                  consideration for each of these covenants; and (iii) each of
                  these covenants is reasonable and necessary to protect and
                  preserve the interests and properties of the Company. The
                  Executive also acknowledges and agrees that: (i) irreparable
                  loss and damage will be suffered by the Company should the
                  Executive breach any of these covenants and agreements; (ii)
                  each of these covenants and agreements in clauses (a) and (b)
                  of this Section 6 is separate, distinct and severable not only
                  from the other covenants and agreements but also from the
                  remaining provisions of this Agreement; and (iii) the
                  unenforceability of any covenants or agreements shall not
                  affect the validity or enforceability of any of the other
                  covenants or agreements or any other provision or provisions
                  of this Agreement. The Executive acknowledges and agrees that
                  if any of the provisions of clauses (a) and (b) of this
                  Section 6 shall ever be deemed to exceed the time, activity,
                  or geographic limitations permitted by applicable law, then
                  such provisions shall be and hereby are reformed to the
                  maximum time, activity, or geographical limitations permitted
                  by applicable law.

         e.       The Executive and the Company hereby acknowledge that it may
                  be appropriate from time to time to modify the terms of this
                  Section 6 and the definition of the term "Business" to reflect
                  changes in the Company's business and affairs so that the
                  scope of the limitations placed on the Executive's activities
                  by this Section 6 accomplishes the parties' intent in relation
                  to the then current facts and circumstances. Any such
                  amendment shall be effective only when completed in writing
                  and signed by the Executive and the Company.

7.       Successors; Binding Agreement.

         a.       This Agreement shall be binding and shall inure to the benefit
                  of the Company, its Successors and Assigns and the Company
                  shall require any Successors and Assigns to

                                       8
<PAGE>   9

                  expressly assume and agree to perform this Agreement in the
                  same manner and to the same extent that the Company would be
                  required to perform it if no such succession or assignment had
                  taken place.

         b.       Neither this Agreement nor any right or interest hereunder
                  shall be assignable or transferable by the Executive, her
                  beneficiaries or legal representatives, except by will or by
                  the laws of descent and distribution. This Agreement shall
                  inure to the benefit of and be enforceable by the Executive's
                  legal personal representative.

8.       Fees and Expenses. The Company shall pay all reasonable legal fees and
         related expenses (including but not limited to the costs of experts,
         accountants and counsel) incurred by the Executive as they become due
         as a result of any of the following: (a) the preparation, negotiation,
         counsel, and execution of this Agreement; (b) the termination of the
         Executive's employment (including all such fees and expenses, if any,
         incurred in contesting or disputing any such termination of
         employment); or (c) the Executive seeking to obtain or enforce any
         right or benefit provided by this Agreement.

9.       Notice. For the purposes of this Agreement, notices and all other
         communications provided for in this Agreement (including the Notice of
         Termination) shall be in writing and shall be deemed to have been duly
         given when personally delivered or sent by certified mail, return
         receipt requested, postage prepaid, addressed to the respective
         addresses last given by each party to the other; provided, however,
         that all notices to the Company shall be directed to the attention of
         the Chairman of Board with a copy to the Secretary of the Company. All
         notices and communications shall be deemed to have been received on the
         date of delivery thereof.

10.      Settlement of Claim. The Company's obligation to make the payments
         provided for in this Agreement and otherwise to perform its obligations
         hereunder shall not be affected by any circumstances, including,
         without limitation, any set-off, counterclaim, recoupment, defense or
         other right that the Company may have against the Executive or others.
         The Company may, however, withhold from any benefits payable under this
         Agreement all federal, state, city, or other taxes as shall be required
         pursuant to any law or governmental regulation or ruling.

11.      Modification and Waiver. No provisions of this Agreement may be
         modified, waived or discharged unless such waiver, modification or
         discharge is agreed to in writing and signed by the Executive and the
         Company; provided, however, that if the CEO at the time of the signing
         of this Agreement no longer continues in his capacity as CEO, for
         whatever reason, then Executive shall have the right under this
         Agreement to re-negotiate its terms, and further provided that the
         parties' failure to reach agreement shall permit a resignation by
         Executive under the terms of Section 4(a)(vii) and Adequate
         Justification for resigning by Executive.

         No waiver by any party hereto at any time of any breach by the other
         party hereto of, or compliance with, any condition or provision of this
         Agreement to be performed by such other party shall be deemed a waiver
         of similar or dissimilar provisions or conditions at the same or at any
         prior or subsequent time.

                                       9
<PAGE>   10

12.      Governing Law. This Agreement shall be governed by and construed and
         enforced in accordance with the laws of the State of Georgia without
         giving effect to the conflict of laws principles [?????] thereof. Any
         action brought by any party to this Agreement shall be brought and
         maintained in a court of competent jurisdiction in the State of
         Georgia.

13.      Severability. The provisions of this Agreement shall be deemed
         severable and the invalidity or unenforceability of any provision shall
         not affect the validity or enforceability of the other provisions
         hereof.

14.      Entire Agreement. This Agreement constitutes the entire agreement
         between the parties hereto and supersedes all prior agreements
         (including the Old Agreement), understandings and arrangements, oral or
         written, between the parties hereto with respect to the subject matter
         hereof.

15.      Headings. The headings of Sections herein are included solely for
         convenience of reference and shall not control the meaning or
         interpretation of any of the provisions of this Agreement.

16.      Counterparts. This Agreement may be executed in one or more
         counterparts, each of which shall be deemed an original but all of
         which together shall constitute one and the same instrument.

17.      Piggyback Registration Rights.

         a.       Rights. Subject to the provision of this Section 17, if the
                  Company proposes to make a registered public offering of
                  shares of its Common Stock, excluding an Initial Public
                  Offering, of any of its securities under the Act (whether to
                  be sold by it or by one or more third parties), other than an
                  offering registered on Form S-8, Form S-4, or comparable
                  forms, the Company shall, not less than 45 days prior to the
                  proposed filing date of the registration form, given written
                  notice of the proposed registration to the Executive, and at
                  the written request of the Executive delivered to the Company
                  within 15 days after the receipt of such notice, shall,
                  subject to the provisions of subsection (b) below, include in
                  such registration and offering, and in any underwriting of
                  such offering, all shares of Common Stock as may have been
                  designated in the Executive's request.

         b.       Offering Reduction. If a registration in which the Executive
                  has the right to participate pursuant to this Section 17 is an
                  underwritten offering, and if the managing underwriters
                  determine in their reasonable discretion that the number of
                  securities requested to be included in such registration
                  exceeds the number than can be sold in such offering, then the
                  Company shall include in such registration only the number of
                  shares of Common Stock requested to be sold by the Company as
                  the managing underwriters shall determine; and the Executive
                  and all other persons who have exercised registration rights
                  with respect to the proposed offering shall participate in the
                  offering in proportion to the number of shares of Common Stock
                  so requested by each of them to be so included.

                                       10
<PAGE>   11

18.      Definitions. For purposes of this Agreement, the following terms shall
         have the following meanings:

         a.       "Accrued Compensation" shall mean the aggregate amount of all
                  amounts earned or accrued through the Termination Date but not
                  paid as of the Termination Date including (i) base salary and
                  other amounts set forth in Sections 3.e., f., g., and h., (ii)
                  reimbursement for expenses incurred by the Executive on behalf
                  of the Company during the period ending on the Termination
                  Date and not otherwise reimbursed hereunder, and (iii) bonuses
                  and incentive compensation (other than the Pro Rata Bonus).

         b.       "Act" shall mean the Securities Act of 1933, as amended.

         c.       "Adequate Justification" shall mean the occurrence either
                  before or after a Change in Control of any of the following
                  events or conditions: (i) a material failure of the Company to
                  comply with the terms of this Agreement; (ii) any relocation
                  of the Executive outside the Atlanta, Georgia metropolitan
                  area; or (iii) other than as provided for herein, the removal
                  of the Executive from the position and/or duties described
                  above or any other substantial diminution in the Executive's
                  authority or the Executive's responsibilities that is not
                  approved by a majority of the members of the Board.

         d.       "Bonus Amount" shall mean the great of (i) the most recent
                  annual bonuses paid or payable to the Executive, or (ii) the
                  average of the annual bonuses paid or payable to the Executive
                  during all previous fiscal years ended prior to the
                  Termination Date.

         e.       "Business" shall mean the design, development, marketing and
                  implementation of electronic banking software and services for
                  financial institutions.

         f.       "Bylaws" shall mean the Bylaws of the Company, as amended,
                  supplemented or otherwise modified from time to time.

         g.       "Cause" shall mean the occurrence of any of the following:

                  i.       any act that constitutes, on the part of the
                           Executive, fraud or gross malfeasance of duty;
                           provided, however, that such conduct shall not
                           constitute Cause:

                  (1)      unless (1) there shall have been delivered to the
                           Executive a written notice setting forth with
                           specificity the reasons that the Board believes the
                           Executive's conduct constitutes the criteria set
                           forth in clause (i), (2) the Executive shall have
                           been provided the opportunity to cure the specific
                           inappropriate behavior within 30 days following
                           written notice, (3) after such 30-day period, the
                           Board of Directors determines that the behavior has
                           not been cured, and (4) the termination is evidenced
                           by a resolution adopted in good faith by two-thirds
                           of the members of the Board (other than the
                           Executive); or

                  (2)      if such conduct (1) was believed by the Executive in
                           good faith to have been in or not opposed to the
                           interests of the Company, and (2) was not intended to
                           and did

                                       11
<PAGE>   12

                           not result in the direct or indirect gain to or
                           personal enrichment of the Executive; or

                  ii.      the conviction (from which no appeal may be or is
                           timely taken) or plea of other than "not guilty" of
                           the Executive of a felony or misdemeanor if such
                           misdemeanor involves moral turpitude; or

                  iii.     the material breach of this Agreement by the
                           Executive, upon forty-five (45) days written notice
                           thereof and chance to cure therein.

         h.       A "Change in Control" shall mean the occurrence during the
                  Term of any of the following events:

                  i.       An acquisition (other than directly from the Company)
                           of any voting securities of the Company (the "Voting
                           Securities") by any "Person" (as the term "person" is
                           used for purposes of Section 13(d) or 14(d) of the
                           Securities Exchange Act of 1934 (the "1934 Act"))
                           immediately after which such Person has "Beneficial
                           Ownership" (within the meaning of Rule 13d-3
                           promulgated under the 1934 Act) of 35% or more of the
                           combined voting power of the Company's then
                           outstanding Voting Securities; provided, however,
                           that in determining whether a Change in Control has
                           occurred, Voting Securities that are acquired in a
                           "Non-Control Acquisition" (as defined below) shall
                           not constitute an acquisition that would cause a
                           Change in Control. A "Non-Control Acquisition" shall
                           mean an acquisition by (1) an employee benefit plan
                           (or a trust forming a part thereof) maintained by (x)
                           the Company or (y) any corporation or other Person of
                           which a majority of its voting power or its equity
                           securities or equity interest is owned directly or
                           indirectly by the Company (a "Subsidiary"), (2) the
                           Company or any Subsidiary, or (3) any Person in
                           connection with a "Non-Control Transaction" (as
                           defined below);

                  ii.      The individuals who, as of the date of the Initial
                           Public Offering, are members of the Board (the
                           "Incumbent Board") cease for any reason to constitute
                           at least two-thirds of the Board following the date
                           of the Initial Public Offering; provided, however,
                           that if the election, or nomination for election by
                           the Company's stockholders, of any new director was
                           approved by as vote of at least two-thirds of the
                           Incumbent Board, such new director shall, for
                           purposes of this Agreement, be considered as a member
                           of the Incumbent Board; provided, further, however,
                           that no individual shall be considered a member of
                           the Incumbent Board if such individual initially
                           assumed office as a result of either an actual or
                           threatened "Election Contest" (as described in Rule
                           14a-11 promulgated under the 1934 Act) or other
                           actual or threatened solicitation of proxies or
                           consents by or on behalf of a Person other than the
                           Board (a "Proxy Contest") including by reason of any
                           agreement intended to avoid or settle any Election
                           contest or Proxy Contest; or

                  iii.     Approval by stockholders of the Company of:

                                       12
<PAGE>   13

                  (1)      A merger, consolidation, or reorganization involving
                           the Company, unless

                           the stockholders of the Company, immediately before
                           such merger, consolidation or reorganization, own,
                           directly or indirectly, immediately following such
                           merger, consolidation or reorganization, own at least
                           two-thirds of the combined voting power of the
                           outstanding voting securities of the corporation
                           resulting from such merger or consolidation or
                           reorganization (the "Surviving Corporation") in
                           substantially the same proportion as their ownership
                           of the Voting Securities immediately before such
                           merger, consolidation or reorganization, and

                           the individuals who were members of the Incumbent
                           Board immediately prior to the execution of the
                           agreement providing for such merger, consolidation or
                           reorganization constitute at least two-thirds of the
                           members of the board of directors of the Surviving
                           Corporation.

                           (A transaction described in clauses (1) and (2) shall
                           herein be referred to as a "Non-Control Transaction")

                  (2)      A complete liquidation or dissolution of the Company;
                           or

                  (3)      An agreement for the sale or other disposition of all
                           or substantially all of the assets of the Company to
                           any Person (other than a transfer to a Subsidiary).

         Notwithstanding anything contained in this Agreement to the contrary,
         if the Executive's employment is terminated prior to a Change in
         Control and the Executive reasonably demonstrates that such termination
         (A) was at the request of a third party who has indicated an intention
         or taken steps reasonably calculated to effect a Change in Control and
         who effectuates a Change in Control (a "Third Party") or (B) otherwise
         occurred in connection with, or in anticipation of, a Change in Control
         that actually occurs, then for all purposes of this Agreement, the date
         of a Change in Control with respect to the Executive shall mean the
         date immediately prior to the date of such termination of the
         Executive's employment.

i.       "Compensation Committee" shall mean the compensation committee of the
         Board.

j.       "Competing Business" shall mean any business that, in whole or in part,
         is the same or substantially the same as the Business, unless such
         Business is operated and/or conducted by an affiliate of the Company.

k.       "Disability" shall mean the inability of the Executive to perform
         substantially all of her current duties as required hereunder for a
         continuous period of 90 days because of mental or physical condition,
         illness or injury.

l.       "Initial Public Offering" shall mean the closing of the first public
         offering of the Company's common stock registered under the Act in
         which aggregate proceeds to the Company, net of all underwriting
         discounts and commissions and other expenses of

                                       13
<PAGE>   14
                                                                   EXHIBIT 10.26

         issuance and distribution as stated in the prospectus relating to such
         offering, are equal to at least twelve million dollars ($12,000,000).

m.       "Notice of Termination" shall mean a written notice of termination from
         the Company or the Executive, as the case may be, that specifies an
         effective date of termination, indicates the specific termination
         provision in this Agreement relied upon, and sets forth in reasonable
         detail the facts and circumstances claimed to provide a basis for
         termination of the Executive's employment under the provision so
         indicated.

n.       "Pro Rata Bonus" shall mean an amount equal to the Bonus Amount
         multiplied by a fraction the numerator of which is the number of days
         in the fiscal year through the Termination Date and the denominator of
         which is 365.

o.       "Successors and Assigns" shall mean a corporation or other entity
         acquiring all or substantially all the assets and business of the
         Company (including this Agreement), whether by operation of law or
         otherwise.

p.       "Termination Date" shall mean, in the case of the Executive's death,
         her date of death, and in all other cases, the date specified in the
         Notice of Termination.

         IN WITNESS WHEREOF, the Company and Executive have caused this
Agreement to be executed, effective as of the Effective Date.

                                    COMPANY:
                                    Netzee, Inc.

                                    By:  /s/ Glenn W. Sturm
                                       -----------------------------------------
                                                Glenn W. Sturm
                                                Chief Executive Officer

                                    EXECUTIVE:

                                    /s/ Catherine G. Silver
                                    -------------------------------------------
                                    Catherine G. Silver

                                       14

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