Document:

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                                                                   Exhibit 10.13

                          [LOGO] GLOBAL IMAGING SYSTEMS

                          GLOBAL IMAGING SYSTEMS, INC.

                      1998 STOCK OPTION AND INCENTIVE PLAN

                             DIRECTOR NON-INCENTIVE
                             STOCK OPTION AGREEMENT

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                                TABLE OF CONTENTS
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<S>                                                                            <C>
1.  GRANT OF OPTION............................................................1
2.  PARACHUTE LIMITATIONS......................................................1
3.  TERMS OF PLAN..............................................................2
4.  OPTION PRICE...............................................................3
5.  VESTING IN OPTIONS.........................................................3
6.  TERM AND EXERCISE OF OPTION................................................3
    6.1.  Term.................................................................3
    6.2.  Option Period and Limitations on Exercise............................3
    6.3.  Limitations on Exercise of Option....................................4
    6.4.  Method of Exercise...................................................4
7.  TERMINATION OF THE SERVICE RELATIONSHIP....................................5
    7.1. Termination of Employment or Other Relationship.......................5
    7.2. Rights in the Event of Death..........................................5
    7.3. Rights in the Event of Disability.....................................6
8.  TRANSFERABILITY............................................................6
    8.1. General Rule..........................................................6
    8.2. Family Transfers......................................................6
9.  REQUIREMENTS OF LAW........................................................7
10. EFFECT OF CHANGES IN CAPITALIZATION........................................7
    10.1. Changes in Stock.....................................................7
    10.2. Dissolution, Liquidation, Sale of Assets, Reorganization in
             Which the Company Is Not the Surviving Entity, Etc................8
    10.3. Reorganization, Sale of Assets or Sale of Stock Which
             Involves a Change of Control......................................8
    10.4. Adjustments..........................................................9
    10.5. No Limitations on Company............................................9
11. DISCLAIMER OF RIGHTS.......................................................9
12. FORFEITURE OF RIGHTS......................................................10
13. CAPTIONS..................................................................10
14. WITHHOLDING OF TAXES......................................................10
15. SEVERABILITY..............................................................11
16. INTERPRETATION OF THIS STOCK OPTION AGREEMENT.............................11
17. GOVERNING LAW.............................................................11
18. BINDING EFFECT............................................................11
19. NOTICE....................................................................11
20. ENTIRE AGREEMENT..........................................................12
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                          GLOBAL IMAGING SYSTEMS, INC.
                      1998 STOCK OPTION AND INCENTIVE PLAN
                  DIRECTOR NON-INCENTIVE STOCK OPTION AGREEMENT

     This Stock Option Agreement is made as of the date set forth opposite the
words "Grant Date" on the letter to which this Stock Option Agreement is
attached (the "Grant Letter"), by and between Global Imaging Systems, Inc., a
Delaware corporation (the "Company"), and the person identified opposite the
words "Granted To" in the Grant Letter, a non-employee member of the Board of
Directors of the Company (the "Optionee").

     WHEREAS, the Board of Directors and stockholders of the Company have duly
adopted and approved the Global Imaging Systems, Inc. 1998 Stock Option and
Incentive Plan (the "Plan"), which Plan authorizes the Company to grant to
eligible individuals options for the purchase of shares of the Company's common
stock, par value $.01 per share (the "Stock"); and

     WHEREAS, the Company has determined that it is desirable and in its best
interests to grant to the Optionee, pursuant to the Plan, an option to purchase
a certain number of shares of Stock, in order to provide the Optionee with an
incentive to advance the interests of the Company and any affiliate thereof;

     NOW, THEREFORE, in consideration of the mutual promises and covenants
contained herein, the parties hereto do hereby agree as follows:

1.   GRANT OF OPTION

          Subject to the terms of the Plan (attached hereto as Exhibit A), the
Company hereby grants to the Optionee the right and option (the "Option") to
purchase from the Company, on the terms and subject to the conditions set forth
in the Plan and in this Option Agreement, the number of shares of Stock set
forth opposite the words "Options Granted" in the Grant Letter. This Option
shall not constitute an incentive stock option within the meaning of Section 422
of the Internal Revenue Code of 1986, as amended (the "Code"). The date of grant
of this Option is the date set forth opposite the words "Grant Date" in the
Grant Letter (the "Grant Date").

2.   PARACHUTE LIMITATIONS

          Notwithstanding any other provision of this Stock Option Agreement or
of any other agreement, contract, or understanding heretofore or hereafter
entered into by the Optionee and the Company or any Subsidiary, except an

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agreement, contract, or understanding hereafter entered into that expressly
modifies or excludes application of this Section (the "Other Agreements"), and
notwithstanding any formal or informal plan or other arrangement heretofore or
hereafter adopted by the Company (or any Subsidiary) for the direct or indirect
compensation of the Optionee (including groups or classes of participants or
beneficiaries of which the Optionee is a member), whether or not such
compensation is deferred, is in cash, or is in the form of a benefit to or for
the Optionee (a "Benefit Arrangement"), if the Optionee is a "disqualified
individual," as defined in Section 280G(c) of the Code, the Option and any right
to receive any payment or other benefit under this Stock Option Agreement shall
not become exercisable or vested (i) to the extent that such right to exercise,
vesting, payment, or benefit, taking into account all other rights, payments, or
benefits to or for Optionee under the Plan, all Other Agreements, and all
Benefit Arrangements, would cause any payment or benefit to the Optionee under
this Stock Option Agreement to be considered a "parachute payment" within the
meaning of Section 280G(b)(2) of the Code as then in effect (a "Parachute
Payment") and (ii) if, as a result of receiving a Parachute Payment, the
aggregate after-tax amounts received by the Optionee from the Company under this
Stock Option Agreement, the Plan, all Other Agreements, and all Benefit
Arrangements would be less than the maximum after-tax amount that could be
received by Optionee without causing any such payment or benefit to be
considered a Parachute Payment. In the event that the receipt of any such right
to exercise, vesting, payment, or benefit under this Stock Option Agreement, in
conjunction with all other rights, payments, or benefits to or for the Optionee
under the Plan, any Other Agreement or any Benefit Arrangement would cause the
Optionee to be considered to have received a Parachute Payment under this Stock
Option Agreement that would have the effect of decreasing the after-tax amount
received by the Optionee as described in clause (ii) of the preceding sentence,
then the Optionee shall have the right, in the Optionee's sole discretion, to
designate those rights, payments, or benefits under this Stock Option Agreement,
the Plan, any Other Agreements, and any Benefit Arrangements that should be
reduced or eliminated so as to avoid having the payment or benefit to the
Optionee under this Stock Option Agreement be deemed to be a Parachute Payment.

3.   TERMS OF PLAN

          The Option granted pursuant to this Stock Option Agreement is granted
subject to the terms and conditions set forth in the Plan. All terms and
conditions of the Plan are hereby incorporated into this Stock Option Agreement
by reference and shall be deemed to be part of this Stock Option Agreement,
without regard to whether such terms and conditions are not otherwise set forth
in this Stock Option Agreement. To the extent any capitalized words used in this
Stock Option Agreement are not defined, they shall have the definitions stated
for them in the Plan. In the event that there is any inconsistency between the

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provisions of this Stock Option Agreement and of the Plan, the provisions of the
Plan shall govern.

4.   OPTION PRICE

          The purchase price (the "Option Price") for each share subject to the
Option granted by this Stock Option Agreement is the amount set forth opposite
the words "Option Price per Share" on the Grant Letter.

5.   VESTING IN OPTIONS

          The Option becomes vested as to twenty percent of the shares
purchasable pursuant to the Option on the date that is one year after the Grant
Date (the first "Anniversary Date"), if the Optionee has been providing services
to the Company or any of its affiliates continuously from the date of grant to
the Anniversary Date. Thereafter, so long as the Optionee's service has not been
interrupted, the Option becomes vested as to an additional twenty percent of the
shares subject to the Option after each of the next four Anniversary Dates.
Service for this purpose includes service as an employee, director, advisor or
consultant providing bona fide services to the Company or any of its affiliates.
For purposes of this Stock Option Agreement, termination of service would not be
deemed to occur if the Optionee, after terminating service in one capacity,
continues to provide service to the Company or any of its affiliates in another
capacity. Termination of service is sometimes also referred to herein as
termination of employment or other relationship with the Company or any of its
affiliates.

6.   TERM AND EXERCISE OF OPTION

     6.1. Term

          The Option shall terminate and all rights to purchase the shares
thereunder shall cease upon the expiration of ten years after the Grant Date,
unless terminated earlier pursuant to another provision of this Stock Option
Agreement.

     6.2. Option Period and Limitations on Exercise

          The Optionee may exercise the Option (subject to the limitations on
exercise set forth in this Stock Option Agreement and in the Plan), to the
extent the Option is vested and has not terminated. Any limitation on the
exercise of an Option may be rescinded, modified or waived by the Committee, in
its sole discretion, at any time and from time to time after the Grant Date of
the Option, so as to accelerate the time at which the Option may be exercised.
If the Optionee terminates employment or other relationship with the Company by
reason of "permanent and total disability" (within the meaning of Section
22(e)(3) of the Code),

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the Option shall continue to vest, and shall be exercisable to the extent that
it is vested, for a period of one year after such termination of employment or
service, subject to earlier termination of the Option as provided in Section 6.1
above.

     6.3. Limitations on Exercise of Option

          Notwithstanding the foregoing Sections, in no event may the Option be
exercised: (i) in whole or in part, after ten years following the Grant Date, as
set forth in Section 1 above, (ii) following termination of Optionee's
relationship with the Company for Cause (as defined below) or (iii) following
termination of Optionee's relationship due to death except as provided in
Section 7.2. For purposes of this Stock Option Agreement, "Cause" means (i)
gross negligence or willful misconduct in connection with the performance of
duties; (ii) conviction of a criminal offense (other than minor traffic
offenses); or (iii) material breach of any term of any employment, consulting or
other services, confidentiality, intellectual property or non-competition
agreements, if any, between Optionee and the Company or any of its affiliates.

     6.4. Method of Exercise

          The Option may be exercised, to the extent it is exercisable, by the
Optionee's delivery to the Company of written notice of exercise on any business
day, at the Company's principal office, addressed to the attention of the
Committee. Such notice shall specify the number of shares of Stock with respect
to which the Option is being exercised and shall be accompanied by payment in
full of the Option Price of the shares for which the Option is being exercised.
The minimum number of shares of Stock with respect to which an Option may be
exercised, in whole or in part, at any time shall be the lesser of (i) 100
shares and (ii) the maximum number of shares available for purchase under the
Option at the time of exercise. Payment of the Option Price for the shares
purchased pursuant to the exercise of the Option shall be made in cash or in
cash equivalents. If the Stock is publicly traded, payment in full of the Option
Price need not accompany the written notice of exercise provided that the notice
of exercise directs that the certificate or certificates for the shares of Stock
for which the Option is exercised be delivered to a licensed broker acceptable
to the Company as the agent for the individual exercising the Option and, at the
time such certificate or certificates are delivered, the broker tenders to the
Company cash (or cash equivalents acceptable to the Company) equal to the Option
Price for the shares of Stock purchased pursuant to the exercise of the Option
plus the amount (if any) of federal and/or other taxes which the Company may in
its judgment, be required to withhold with respect to the exercise of the
Option. An attempt to exercise the Option other than as set forth above shall be
invalid and of no force and effect. An individual holding or exercising an
Option shall have none of the rights of a stockholder (for example, the right to
receive cash or dividend payments or distributions attributable to the subject
shares of Stock or to direct the voting of the subject shares of Stock ) until
the shares of Stock covered thereby are fully paid and issued to him. Except as

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provided in Section 10 hereof, no adjustment shall be made for dividends,
distributions or other rights for which the record date is prior to the date of
such issuance. Notwithstanding the foregoing, the Optionee may not exercise the
Option in a manner that violates the policy adopted by the Board of Directors of
the Company regarding the cashless exercise of stock options.

7.   TERMINATION OF THE SERVICE RELATIONSHIP

     7.1. Termination of Employment or Other Relationship

          Upon the termination of the Optionee's employment or other
relationship with the Company other than by reason of death or "permanent and
total disability" (within the meaning of Section 22(e)(3) of the Code), the
Option or portion thereof held by the Optionee that has not vested in accordance
with the provisions of Section 5 hereof shall terminate immediately, and,
subject to Section 6.1 above any Option or portion thereof that has vested in
accordance with the provisions of Section 5 hereof but has not been exercised
shall terminate at the close of business on the 90th day following the
Optionee's termination of employment or other relationship (or, if such 90th day
is a Saturday, Sunday or holiday, at the close of business on the next preceding
day that is not a Saturday, Sunday or holiday), unless the Board of Directors of
the Company (the "Board"), in its discretion, extends the period during which
the Option may be exercised (which period may not be extended beyond the
original term of the Option). Upon termination of the Option or portion thereof,
the Optionee shall have no further right to purchase shares of Stock pursuant to
such Option or portion thereof. Whether a leave of absence or leave on military
or government service shall constitute a termination of employment or other
relationship for purposes of the Optionee shall be determined by the Board,
which determination shall be final and conclusive. For purposes of the Option, a
termination of employment, service or other relationship shall not be deemed to
occur if the Optionee is immediately thereafter employed with the Company or any
other Service Provider, or is engaged as a Service Provider or an Outside
Director of the Company. Whether a termination of a Service Provider's or an
Outside Director's relationship with the Company shall have occurred shall be
determined by the Committee, which determination shall be final and conclusive.

     7.2. Rights in the Event of Death

          If the Optionee dies while employed by, or in the service of, the
Company or any of its affiliates, the executors or administrators or legatees or
distributees of such Optionee's estate shall have the right at any time within
one year after the date of such Optionee's death, and prior to termination of
the Option pursuant to Section 6.1 above, to exercise, in whole or in part, any
Option held by such Optionee at the date of such Optionee's death, whether or
not such Option was exercisable immediately prior to such Optionee's death.

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     7.3. Rights in the Event of Disability

          If the Optionee's employment or other relationship with the Company or
any of its affiliates is terminated by reason of the "permanent and total
disability" (within the meaning of Section 22(e)(3) of the Code) of the
Optionee, then such Optionee shall have the right, at any time within one year
after such termination of employment or other relationship and prior to
termination of the Option pursuant to Section 6.1 above, to exercise, in whole
or in part, the Option held by such Optionee at the date of such termination of
employment or other relationship, to the extent such Option is then exercisable.
Whether a termination of employment or other relationship is to be considered by
reason of "permanent and total disability" for purposes of this Stock Option
Agreement shall be determined by the Committee, which determination shall be
final and conclusive.

8.   TRANSFERABILITY

     8.1. General Rule

          Except as provided in Section 8.2, during the lifetime of an Optionee,
only the Optionee (or, in the event of legal incapacity or incompetency, the
Optionee's guardian or legal representative) may exercise the Option. Except as
provided in Section 8.2, the Option shall not be assignable or transferable by
the Optionee, other than by will or the laws of descent and distribution.

     8.2. Family Transfers.

          An Optionee may transfer all or part of the Option to (i) any
Immediate Family Member, (ii) a trust or trusts for the exclusive benefit of any
Immediate Family Member, or (iii) a partnership in which Immediate Family
Members are the only partners, provided that (x) there may be no consideration
for any such transfer, and (y) subsequent transfers of the transferred Option
are prohibited except those in accordance with this Section 8.2 or by will or
the laws of descent and distribution. Following transfer, the Option shall
continue to be subject to the same terms and conditions as were applicable
immediately prior to transfer, provided that for purposes of Section 8.2 hereof
the term "Optionee" shall be deemed to refer to the transferee. The events of
termination of the Optionee in Section 6.3 hereof shall continue to be applied
with respect to the original Optionee, following which the Option shall be
exercisable by the transferee only to the extent and for the periods specified
in Section Error! Reference source not found.. "Immediate Family Members" means
the spouse, children and grandchildren of the Optionee.

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9.   REQUIREMENTS OF LAW

          The Company shall not be required to sell or issue any securities
under the Option if the sale or issuance of such securities would constitute a
violation by the Optionee, the individual exercising the Option, or the Company
of any provisions of any law or regulation of any governmental authority,
including without limitation any federal or state securities laws or
regulations. If at any time the Company shall determine, in its discretion, that
the listing, registration or qualification of any securities subject to the
Option upon any securities exchange or under any governmental regulatory body is
necessary or desirable as a condition of, or in connection with, the issuance or
purchase of securities hereunder, the Option may not be exercised in whole or in
part unless such listing, registration, qualification, consent or approval shall
have been effected or obtained free of any conditions not acceptable to the
Company, and any delay caused thereby shall in no way affect the date of
termination of the Option. Specifically in connection with the 1933 Act, upon
the exercise of the Option, unless a registration statement under such act is in
effect with respect to the securities covered by the Option, the Company shall
not be required to sell or issue such securities unless the Committee has
received evidence satisfactory to it that the holder of such Option may acquire
such securities pursuant to an exemption from registration under such act. Any
determination in this connection by the Committee shall be final, binding, and
conclusive. The Company may, but shall in no event be obligated to, register any
securities covered hereby pursuant to the 1933 Act. The Company shall not be
obligated to take any affirmative action in order to cause the exercise of the
Option or the issuance of securities pursuant thereto to comply with any law or
regulation of any governmental authority. As to any jurisdiction that expressly
imposes the requirement that the Option shall not be exercisable until the
securities covered by such Option are registered or are exempt from
registration, the exercise of such Option (under circumstances in which the laws
of such jurisdiction apply) shall be deemed conditioned upon the effectiveness
of such registration or the availability of such an exemption.

10.  EFFECT OF CHANGES IN CAPITALIZATION

     10.1. Changes in Stock

          If the number of outstanding shares of Stock is increased or decreased
or the shares of Stock are changed into or exchanged for a different number or
kind of shares or other securities of the Company on account of any
recapitalization, reclassification, stock split, reverse split, combination of
shares, exchange of shares, stock dividend or other distribution payable in
capital stock, or other increase or decrease in such shares effected without
receipt of consideration by the Company, occurring after the date of grant of
the Option, the number and kind of shares of Stock for which the Option was
granted shall be adjusted

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proportionately and accordingly so that the proportionate interest of the
Optionee immediately following such event shall, to the extent practicable, be
the same as immediately before such event. Any such adjustment in the Option
shall not change the aggregate Option Price payable with respect to shares that
are subject to the unexercised portion of the Option but shall include a
corresponding proportionate adjustment in the Option Price per share.

     10.2. Dissolution, Liquidation, Sale of Assets, Reorganization in Which the
           Company Is Not the Surviving Entity, Etc.

          Subject to Section 10.3 hereof, if the Company shall be the surviving
entity in any reorganization, merger, or consolidation of the Company with one
or more other entities in which no Change of Control occurs, the Option shall
pertain to and apply to the securities to which the Optionee would have been
entitled immediately following such reorganization, merger, or consolidation,
with a corresponding proportionate adjustment of the Option Price per share so
that the aggregate Option Price thereafter shall be the same as the aggregate
Option Price of the shares remaining subject to the Option immediately prior to
such reorganization, merger, or consolidation. "Change of Control" means (i) the
dissolution or liquidation of the Company or a merger, consolidation, or
reorganization of the Company with one or more other entities in which the
Company is not the surviving entity, (ii) a sale of substantially all of the
assets of the Company to another entity, or (iii) any transaction (including
without limitation a merger or reorganization in which the Company is the
surviving entity) which results in any person or entity (other than persons who
are stockholders or affiliates of the Company at the time the Plan is approved
by the Company's stockholders) owning 50% or more of the combined voting power
of all classes of stock of the Company.

     10.3. Reorganization, Sale of Assets or Sale of Stock Which Involves a
           Change of Control.

          Subject to the exceptions set forth in the last sentence of this
Section 10.3 (i) upon the occurrence of a Change of Control, fifteen days prior
to the scheduled consummation of a Change of Control, the Option shall become
immediately exercisable to the extent not previously exercisable and shall
remain exercisable for a period of fifteen days. Any exercise of an Option
during such fifteen-day period shall be conditioned upon the consummation of the
event and shall be effective only immediately before the consummation of the
event. Upon consummation of any Change of Control, the Option, to the extent not
exercised, shall terminate. The Board shall send written notice of an event that
will result in such a termination to the Optionee not later than the time at
which the Company gives notice thereof to its stockholders. Neither Section 10.2
nor this Section 10.3 shall apply to any Change of Control to the extent that
(A) provision is made in

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writing in connection with such Change of Control for the assumption of the
Option, or the substitution for such Option of new options covering the stock of
a successor entity, or a parent or subsidiary thereof, with appropriate
adjustments as to the number and kinds of shares and exercise prices, in which
event the Option shall continue in the manner and under the terms so provided or
(B) a majority of the full Board determines that such Change of Control shall
not trigger application of the provisions of Section 10.2 or this Section 10.3.

     10.4. Adjustments

          Adjustments under this Section 10 related to stock or securities of
the Company shall be made by the Board, whose determination in that respect
shall be final, binding, and conclusive. No fractional shares of Stock or units
of other securities shall be issued pursuant to any such adjustment, and any
fractions resulting from any such adjustment shall be eliminated in each case by
rounding downward to the nearest whole share or unit.

     10.5. No Limitations on Company

          The grant of the Option shall not affect or limit in any way the right
or power of the Company to make adjustments, reclassifications, reorganizations,
or changes of its capital or business structure or to merge, consolidate,
dissolve, or liquidate, or to sell or transfer all or any part of its business
or assets.

11.  DISCLAIMER OF RIGHTS

          No provision in the Plan or in the Stock Option Agreement shall be
construed to confer upon any individual the right to remain in the employ or
service of the Company or any affiliate, or to interfere in any way with any
contractual or other right or authority of the Company or Service Provider
either to increase or decrease the compensation or other payments to any
individual at any time, or to terminate any employment or other relationship
between any individual and the Company. In addition, notwithstanding anything
contained in the Plan to the contrary, the Option shall not be affected by any
change of duties or position of the Optionee, so long as the Optionee continues
to be a director, officer, consultant or employee of the Company. The obligation
of the Company to pay any benefits pursuant to this Stock Option Agreement shall
be interpreted as a contractual obligation to pay only those amounts described
herein, in the manner and under the conditions prescribed herein. The Plan and
the Stock Option Agreement shall in no way be interpreted to require the Company
to transfer any amounts to a third party trustee or otherwise hold any amounts
in trust or escrow for payment to any participant or beneficiary under the terms
of the Plan. The Optionee shall not have any of the rights of a stockholder with
respect to the shares of Stock subject to an Option except to the extent the
certificates for such shares of Stock shall have been issued upon the exercise
of the Option.

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12.  FORFEITURE OF RIGHTS

          The Company at any time shall have the right to cause a forfeiture of
the rights of the Optionee on account of the Optionee taking actions in
competition with the Company. Unless otherwise specified in an employment or
other agreement between the Company and the Optionee, the Optionee takes actions
in competition with the Company if he or she directly or indirectly owns any
interest in, operates, joins, controls or participates as a partner, director,
principal, officer, or agent of, enters into the employment of, acts as a
consultant to, or performs any services for, any entity which has material
operations which compete with any business in which the Company or any of its
Subsidiaries is engaged during the Optionee's employment or other relationship
with the Company or any of its affiliates or at the time of the Optionee's
termination of employment or other relationship.

13.  CAPTIONS

          The use of captions in this Stock Option Agreement is for the
convenience of reference only and shall not affect the meaning of any provision
of such Stock Option Agreement.

14.  WITHHOLDING OF TAXES

          The Company or a Subsidiary, as the case may be, shall have the right
to deduct from payments of any kind otherwise due to the Optionee any Federal,
state, or local taxes of any kind required by law to be withheld upon the
issuance of any shares of Stock upon the exercise of the Option. At the time of
such exercise, the Optionee shall pay to the Company or the Subsidiary, as the
case may be, any amount that the Company or the Subsidiary may reasonably
determine to be necessary to satisfy such withholding obligation. Subject to the
prior approval of the Company or the Subsidiary, which may be withheld by the
Company or the Subsidiary, as the case may be, in its sole discretion, the
Optionee may elect to satisfy such obligations, in whole or in part, (i) by
causing the Company or the Subsidiary to withhold shares of Stock otherwise
issuable to the Optionee or (ii) by delivering to the Company or the Subsidiary
shares of Stock already owned by the Optionee. The shares of Stock so delivered
or withheld shall have an aggregate Fair Market Value equal to such withholding
obligations. The Fair Market Value of the shares of Stock used to satisfy such
withholding obligation shall be determined by the Company or the Subsidiary as
of the date that the amount of tax to be withheld is to be determined. The
Optionee who has made an election pursuant to this Section 14 may satisfy his or
her withholding obligation only with shares of Stock that are not subject to any
repurchase, forfeiture, unfulfilled vesting, or other similar requirements.

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15.  SEVERABILITY

          If any provision of the Plan or this Stock Option Agreement shall be
determined to be illegal or unenforceable by any court of law in any
jurisdiction, the remaining provisions thereof and hereof shall be severable and
enforceable in accordance with their terms, and all provisions shall remain
enforceable in any other jurisdiction.

16.  INTERPRETATION OF THIS STOCK OPTION AGREEMENT

          All decisions and interpretations made by the Company or the Committee
with regard to any question arising under the Plan or this Stock Option
Agreement shall be final, binding and conclusive on the Company and the Optionee
and any other person entitled to exercise the Option as provided for herein.

17.  GOVERNING LAW

          The validity and construction of this Stock Option Agreement shall be
governed by the laws of the State of Delaware but not including the choice of
law rules thereof.

18.  BINDING EFFECT

          Subject to all restrictions provided for in this Stock Option
Agreement, the Plan and by applicable law limiting assignment and transfer of
this Stock Option Agreement and the Option provided for herein, this Stock
Option Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective heirs, executors, administrators, successors, and
assigns.

19.  NOTICE

          All notices or other communications which may be or are required to be
given by any party to any other party pursuant to this Stock Option Agreement
shall be in writing and shall be mailed by first-class, registered or certified
mail, return receipt requested, postage prepaid, or transmitted by hand delivery
or telecopier (fax), addressed as follows:

                    If to the Company:

                    Global Imaging Systems, Inc.
                    PO Box 273478
                    Tampa, Florida 33688-3478
                    Attention: Raymond Schilling
                    Telecopy: (813) 264-7877

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                    If to Optionee:

                    At the address set forth below under Optionee's name at the
                    foot of this Agreement.

Each party may designate by notice in writing a new address to which any notice
or other communication may thereafter be so given. Each notice or other
communication which shall be mailed, delivered or transmitted in the manner
described above, shall be deemed sufficiently given for all purposes at such
time as it is delivered to the addressee with the return receipt, the delivery
receipt, the affidavit of personal courier or, with respect to a telecopy, upon
acknowledgment of receipt thereof and in all cases at such time as delivery is
refused by the addressee upon presentation.

20.  ENTIRE AGREEMENT

          This Stock Option Agreement and the Plan together constitute the
entire agreement between the parties hereto with respect to the subject matter
hereof. Neither this Stock Option Agreement nor any term hereof may be amended,
waived, discharged or terminated except by a written instrument signed by the
Company and the Optionee; provided, however, that the Company unilaterally may
waive any provision hereof in writing to the extent that such waiver does not
adversely affect the interests of the Optionee hereunder, but no such waiver
shall operate as or be construed to be a subsequent waiver of the same provision
or a waiver of any other provision hereof.

                                      -12-

<PAGE>

          IN WITNESS WHEREOF, the parties hereto have duly executed and
delivered this Stock Option Agreement, or caused this Stock Option Agreement to
be duly executed and delivered in their name and on their behalf, as of the day
and year first above written.

                                                    GLOBAL IMAGING SYSTEMS, INC.

                                                    By:
                                                        ------------------------

                                                    OPTIONEE:

                                                    Signed:
                                                            --------------------

                                                    Name:
                                                          ----------------------

                                                    ADDRESS FOR NOTICE TO
                                                    OPTIONEE:

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

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

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

                                      -13-

<PAGE>

                     Exhibit A: Global Imaging Systems, Inc.
                      1998 Stock Option and Incentive Plan<PAGE>

                                                                   Exhibit 10.21

                                                                  EXECUTION COPY

                                   $50,000,000

                          GLOBAL IMAGING SYSTEMS, INC.

                4% CONVERTIBLE SENIOR SUBORDINATED NOTES DUE 2008

                          REGISTRATION RIGHTS AGREEMENT

                                                                    May 16, 2003

Wachovia Securities, Inc.
Raymond James & Associates, Inc.
SunTrust Capital Markets, Inc.
Robert W. Baird & Co. Incorporated

c/o Wachovia Securities, Inc.
One Wachovia Center
301 South College Street
Charlotte, North Carolina 28288-0604

Ladies and Gentlemen:

          Global Imaging Systems, Inc., a Delaware corporation (the "Company"),
proposes to issue and sell to Wachovia Securities, Inc., Raymond James &
Associates, Inc., SunTrust Capital Markets, Inc. and Robert W. Baird & Co.
Incorporated (the "Initial Purchaser"), upon the terms set forth in a purchase
agreement among the Company and each of the subsidiaries of the Company as
listed on Schedule A hereto (each a "Guarantor" and, collectively, the
"Guarantors" and, together with the Company, the "Companies") and the Initial
Purchasers dated as of May 12, 2003 (the "Purchase Agreement"), $50,000,000
aggregate principal amount, plus an option (the "Option") to purchase up to an
additional $7,500,000 aggregate principal amount, of its 4% Convertible Senior
Subordinated Notes due 2008 (the "Notes"). The Notes will be issued pursuant to
an Indenture, dated as of May 16, 2003 (the "Indenture"), among the Company, the
Guarantors, as guarantors, and The Bank of New York, trustee (the "Trustee").
The obligations of the Company under the Notes and the Indenture will be fully
and unconditionally guaranteed (the "Guarantees" and, together with the Notes,
the "Securities") on an unsecured, senior subordinated basis by the Guarantors
pursuant to the terms of the Indenture. The Securities will be convertible into
shares of Common Stock, at the conversion price set forth in the Indenture, as
adjusted from time to time pursuant to the terms of the Indenture (the shares of
Common Stock issuable upon conversion of the Securities, the

<PAGE>

"Underlying Common Stock"). As an inducement to the Initial Purchasers to enter
into the Purchase Agreement, the Companies agree with the Initial Purchasers,
for the benefit of (i) the Initial Purchasers as Initial Purchasers and (ii) the
beneficial owners (including the Initial Purchasers) from time to time of the
Securities and of the Underlying Common Stock (each of the foregoing, a
"Holder", and, collectively, the "Holders"), as follows:

          1. Shelf Registration and Certain Definitions.

          (a) The Companies shall prepare and file with the Securities and
Exchange Commission (the "Commission") as soon as practicable but in no event
later than 90 days (such 90th day being a "Filing Deadline") after May 16, 2003
(the "Closing Date"), a "shelf" registration statement on Form S-3 or on another
appropriate form (the "Initial Shelf Registration Statement" and together with
any Subsequent Shelf Registration Statement or New Shelf Registration Statement
(each as defined below), including, in each case, the prospectus, amendments and
supplements to such registration statements, including post-effective
amendments, all exhibits and all materials incorporated by reference or deemed
to be incorporated by reference in such registration statements, are herein
collectively referred to as the "Shelf Registration Statement"), for an offering
to be made on a delayed or continuous basis pursuant to Rule 415 of the
Securities Act of 1933, as amended (the "Securities Act") (the "Shelf
Registration"), registering the resale from time to time by Holders thereof (who
satisfy certain conditions relating to the provision of information in
connection with the Shelf Registration Statement) of all of the Registrable
Securities (as defined below). The Shelf Registration Statement shall be on an
appropriate form under the Securities Act permitting registration of such
Registrable Securities for resale by such Holders from time to time in
accordance with the methods of distribution elected by the Holders of
Registrable Securities and set forth in the Shelf Registration Statement. The
Companies shall use their reasonable best efforts to cause the Initial Shelf
Registration Statement to be declared effective under the Securities Act as
promptly as is practicable but in any event within 180 days after the Closing
Date (the "Effectiveness Deadline Date"), provided that if any Securities are
issued upon exercise of the Option granted to the Initial Purchasers in the
Purchase Agreement, and the date or dates on which such Securities are issued
occurs after the Closing Date, the Companies will take such reasonable steps,
prior to the effective date of the Initial Shelf Registration Statement, to
ensure that such Securities issued upon exercise of the Option and the
Underlying Common Stock are included in the Shelf Registration Statement on the
same terms as the Securities, and the related Underlying Common Stock, issued on
the Closing Date. The Companies shall use their reasonable best efforts to keep
the Initial Shelf Registration Statement, or any Subsequent Shelf Registration
Statement, continuously effective under the Securities Act to permit the
prospectus, forming a part thereof, to be used lawfully by the Holders of the
Registrable Securities, until the earliest of (i) the second anniversary of the
Closing Date (or for such longer period if extended pursuant to Section 2(h)
below), (ii) the date when all the Registrable Securities registered under the
Shelf Registration Statement have been sold pursuant thereto or (iii) the date
when all the Registrable Securities held by non-affiliates (as defined in Rule
144 under the Securities Act) are eligible to be sold to the public pursuant to
Rule 144(k) under the Securities Act, or any successor rule thereof (such
period, the "Effectiveness Period"). The Companies shall be deemed not to have
used their reasonable best efforts to keep the Shelf Registration Statement
effective during the requisite period if any of them voluntarily takes any
action that would result in Holders of Registrable Securities covered thereby
not being able to offer and sell such Registrable Securities

                                        2

<PAGE>

during that period, unless (i) such action is required by applicable law or (ii)
upon the occurrence of any event contemplated by Section 2(b)(v), any action
taken is taken in good faith and in compliance with the requirements of Section
2(h). At the time the Initial Shelf Registration Statement is declared
effective, each Holder of Registrable Securities who has provided the Company
with a completed Notice and Questionnaire (as defined below) at least five
Business Days (as defined below) prior to such time of effectiveness pursuant to
Section 1(d) shall be named as a selling securityholder in the Initial Shelf
Registration Statement and the related prospectus in such a manner as to permit
such Holder to deliver such prospectus to purchasers of Registrable Securities
in accordance with applicable law. Other than the Holders of Registrable
Securities, none of the securityholders of the Companies have the right to
include securities of any of the Companies' in the Shelf Registration Statement.

          (b) If the Initial Shelf Registration Statement or any Subsequent
Shelf Registration Statement ceases to be effective for any reason at any time
during the Effectiveness Period (other than because all Registrable Securities
registered thereunder have been resold pursuant thereto or have otherwise ceased
to be Registrable Securities), the Companies shall use their reasonable best
efforts to obtain the prompt withdrawal of any order suspending the
effectiveness thereof, and in any event shall within 30 days of such cessation
of effectiveness amend the Shelf Registration Statement in a manner reasonably
expected to obtain the withdrawal of the order suspending the effectiveness
thereof, or file an additional Shelf Registration Statement covering all of the
securities that as of the date of such filing are Registrable Securities (a
"Subsequent Shelf Registration Statement"). If a Subsequent Shelf Registration
Statement is filed, the Companies shall use their reasonable best efforts to
cause the Subsequent Shelf Registration Statement to become effective as
promptly as is practicable after such filing and to keep such Subsequent Shelf
Registration Statement continuously effective until the end of the Effectiveness
Period.

          (c) The Companies shall supplement and amend the Shelf Registration
Statement if required by the rules, regulations or instructions applicable to
the registration form used by the Companies for such Shelf Registration
Statement, if required by the Securities Act or, to the extent to which the
Companies do not reasonably object, as reasonably requested by (i) the Initial
Purchasers in the event that it is participating in the Shelf Registration
Statement or (ii) the Majority Holders.

          (d) Each Holder of Registrable Securities agrees that if such Holder
wishes to sell Registrable Securities pursuant to a Shelf Registration Statement
and the related prospectus, it will do so only in accordance with this Section
1(d) and Section 2(h). From and after the date the Initial Shelf Registration
Statement is declared effective, the Companies shall, as promptly as
practicable, as required by applicable law, prepare and file with the Commission
a post-effective amendment to the Shelf Registration Statement or prepare and
file a supplement to the related prospectus or a supplement or amendment to any
document incorporated therein by reference or file any other document required
under the Securities Act or, if required by applicable law upon advice of
counsel, prepare and file a new Shelf Registration Statement combining, pursuant
to Rule 429 under the Securities Act (or any successor rule), the information
contained in the prospectus forming part of the existing Shelf Registration
Statement (which may be the Initial Shelf Registration Statement or any
Subsequent Shelf Registration Statement) and the prospectus forming part of such
new Shelf Registration Statement (for purposes of this Section 1(d), this

                                        3

<PAGE>

new Shelf Registration Statement is referred to as the "New Shelf Registration
Statement") so that the Holder of Registrable Securities that has delivered such
Notice and Questionnaire is named as a selling securityholder in a Shelf
Registration Statement and the related prospectus in such a manner as to permit
the Holder to deliver a prospectus relating to an effective Registration
Statement to purchasers of the Registrable Securities in accordance with
applicable law. If the Companies, upon the advice of counsel, files a
post-effective amendment to the Shelf Registration Statement or a New Shelf
Registration Statement, they shall use their reasonable best efforts to cause
such post-effective amendment or such New Shelf Registration Statement to be
declared effective under the Securities Act as promptly as is practicable, but
in any event by the date that is 60 days after the date any completed Notice and
Questionnaire is delivered to the Company (the "Amendment Effectiveness
Deadline"), provided that the Amendment Effectiveness Deadline shall be extended
by 10 days from the expiration of a Deferral Period (as defined below) if such
Deferral Period is in effect on the Amendment Effectiveness Deadline; provided,
further, that if under applicable law the Companies have more than one option as
to the type or manner of making any such filing referred to in this Section
1(d), it will make the required filing or filings of a type or in the manner
that is reasonably expected to result in the earliest availability of a
prospectus necessary for effecting resales of Registrable Securities. The
Companies shall also (i) provide any Notice Holder with copies of any documents
filed pursuant to this Section 1(d) and (ii) notify any Notice Holder as
promptly as practicable after the effectiveness under the Securities Act of any
post-effective amendment or such New Shelf Registration Statement filed pursuant
to this Section 1(d). If a Holder of Registrable Securities delivers a Notice
and Questionnaire during a Deferral Period, the Companies shall so inform the
Holder delivering such Notice and Questionnaire and shall take the actions set
forth above upon expiration of the Deferral Period. Notwithstanding anything
contained herein to the contrary, the Companies shall be under no obligation to
name any Holder that has not submitted a Notice and Questionnaire to the Company
in accordance with this Agreement as a selling securityholder in any Shelf
Registration Statement or related prospectus.

          (e) Notwithstanding any other provisions of this Agreement to the
contrary, the Companies shall cause the Shelf Registration Statement and the
related prospectus and any amendment or supplement thereto, as of the effective
date of the Shelf Registration Statement and as of the date of filing any
prospectus amendment or supplement, as applicable, (i) to comply in all material
respects with the applicable requirements of the Securities Act and the rules
and regulations of the Commission and (ii) not to contain any untrue statement
of a material fact or omit to state a material fact required to be stated
therein or necessary in order to make the statements therein not misleading.

          (f) As used in this Agreement, the following terms shall have the
following meanings:

          "Applicable Conversion Price" as of any date of determination means
     the Conversion Price (as defined in the Indenture) in effect as of such
     date of determination or, if no Securities are then outstanding, the
     Conversion Price that would be in effect were Securities outstanding on
     such date.

          "Business Day" has the meaning set forth in the Indenture.

                                        4

<PAGE>

          "Common Stock" means the shares of common stock, $0.01 par value per
     share, of the Company and any other shares of common stock as may
     constitute Common Stock for purposes of the Indenture, including the
     Underlying Common Stock.

          "Exchange Act" means the Securities Exchange Act of 1934, as amended,
     and the rules and regulations of the Commission promulgated thereunder.

          "Majority Holders" means the Holders of Registrable Securities that
     hold a majority of the then outstanding aggregate principal amount of
     Securities registered under a Shelf Registration Statement, provided that
     holders of Underlying Common Stock shall, for purposes of this definition,
     be deemed to be holders of the aggregate principal amount of Securities
     from which such Common Stock was converted, and provided further that
     Securities or Underlying Common Stock which have been sold or otherwise
     transferred pursuant to the Shelf Registration Statement shall not be
     included in the calculation of Majority Holders.

          "Notice and Questionnaire" means the Selling Securityholder Notice and
     Questionnaire substantially in the form of Exhibit A hereto.

          "Notice Holder" means, on any date, any Holder that has delivered a
     Notice and Questionnaire to the Company on or prior to such date and holds
     Registrable Securities as of such date.

          "Registrable Securities" means the Securities, until such Securities
     have been converted into or exchanged for the Underlying Common Stock and,
     at all times subsequent to any such conversion or exchange, the Underlying
     Common Stock and any securities into or for which such Underlying Common
     Stock have been converted or exchanged, and any security issued with
     respect thereto upon any stock dividend, split or similar event until, in
     the case of any such security, (A) the earliest of (i) its effective
     registration under the Securities Act and resale in accordance with the
     Shelf Registration Statement covering it, (ii) expiration of the holding
     period that would be applicable thereto under Rule 144(k) under the
     Securities Act were it not held by an "affiliate" (as defined in Rule 144
     under the Securities Act or any successor rule thereof) of any of the
     Companies and (iii) its sale to the public pursuant to Rule 144, and (B) as
     a result of the event or circumstance described in any of the foregoing
     clauses (i) through (iii), the legends with respect to transfer
     restrictions required under the Indenture are removed or removable in
     accordance with the terms of the Indenture or such legend, as the case may
     be.

          2. Registration Procedures. In connection with the Shelf Registration
contemplated by Section 1 hereof, the following provisions shall apply:

          (a) The Companies shall (i) furnish to the Initial Purchasers any
     Shelf Registration Statement and each amendment thereof and the related
     prospectus, and each amendment or supplement thereto and the Companies
     shall use all commercially reasonable efforts to reflect in the Shelf
     Registration Statement, when so filed with the Commission, such comments as
     the Initial Purchasers reasonably may propose and

                                        5

<PAGE>

     (ii) include information regarding the Notice Holders who propose to sell
     Registrable Securities, and the methods of distribution they have elected
     for their Registrable Securities, pursuant to the Shelf Registration
     Statement as selling securityholders.

          (b) The Companies, as promptly as reasonably practicable (but in any
     event within two Business Days), shall give written notice to the Initial
     Purchasers and the Notice Holders (which notice pursuant to clauses (ii)
     through (v) hereof shall be accompanied by an instruction to suspend the
     use of the prospectus related to any Shelf Registration Statement until the
     requisite changes have been made):

               (i) when any Shelf Registration Statement or any amendment
          thereto or any prospectus or any prospectus supplement included
          therein has been filed with the Commission and when the Shelf
          Registration Statement or any post-effective amendment thereto has
          become effective;

               (ii) of any request by the Commission for amendments or
          supplements to the Shelf Registration Statement or the prospectus
          included therein or for additional information;

               (iii) of the issuance by the Commission of any stop order
          suspending the effectiveness of the Shelf Registration Statement or
          any order preventing or suspending the use of any prospectus included
          therein or the initiation or threat of any proceedings for that
          purpose;

               (iv) of the receipt by the Companies or its legal counsel of any
          notification with respect to the suspension of the qualification of
          the Registrable Securities for sale in any jurisdiction or the
          initiation or threatening of any proceeding for such purpose; and

               (v) of the happening of any event that requires the Companies to
          make changes in the Shelf Registration Statement or the prospectus so
          that, as of such date, neither the Shelf Registration Statement nor
          the related prospectus contains an untrue statement of a material fact
          nor omits to state a material fact required to be stated therein or
          necessary to make the statements therein (in the case of the related
          prospectus, in light of the circumstances under which they were made)
          not misleading.

          (c) The Companies shall use their reasonable best efforts to obtain
     the withdrawal, at the earliest possible time, of (i) any order suspending
     the effectiveness of the Shelf Registration Statement, (ii) any order
     preventing or suspending the use of a prospectus or (iii) any suspension of
     the qualification (or exemption from qualification) of any of the
     Registrable Securities for offer or sale in any jurisdiction, subject to
     the proviso contained in Section 2(f) below.

          (d) The Companies shall furnish to the Initial Purchasers and each
     Holder of Registrable Securities included within the coverage of the Shelf
     Registration, without charge, at least one copy of the Shelf Registration
     Statement and any post-effective amendment thereto, including financial
     statements and schedules and, if such Holder

                                        6

<PAGE>

     requests in writing, all exhibits thereto (including those, if any,
     incorporated by reference).

          (e) The Companies shall, during the Effectiveness Period, deliver to
     the Initial Purchasers and to each Holder of Registrable Securities
     included within the coverage of the Shelf Registration, without charge, as
     many copies of the prospectus (including each preliminary prospectus, if
     any) included in the Shelf Registration Statement and any amendment or
     supplement thereto as such person may reasonably request. The Companies
     consent, subject to the provisions of this Agreement, to the use of such
     prospectus or any amendment or supplement thereto by each of the selling
     Holders of the Registrable Securities in connection with the offering and
     sale of the Registrable Securities covered by the prospectus, or any
     amendment or supplement thereto, included in the Shelf Registration
     Statement.

          (f) Prior to any public offering of the Registrable Securities
     pursuant to any Shelf Registration Statement, the Companies shall register
     or qualify or cooperate with the Holders of the Registrable Securities
     included therein and their respective counsel in connection with the
     registration or qualification (or exemption from qualification) of the
     Registrable Securities for offer and sale under the securities or "blue
     sky" laws of such jurisdictions within the United States as any Holder of
     Registrable Securities reasonably requests in writing, shall maintain such
     qualification in effect so long as required and do any and all other acts
     or things necessary or advisable to enable the offer and sale in such
     jurisdictions of the Registrable Securities covered by such Shelf
     Registration Statement; provided, however, that none of the Companies shall
     be required to (i) qualify generally to do business in any jurisdiction
     where it is not then so qualified or (ii) take any action which would
     subject it to general service of process or to taxation in excess of a
     nominal amount in any jurisdiction where it is not then so subject.

          (g) The Companies shall cooperate with the Holders of Registrable
     Securities to facilitate the timely preparation and delivery of
     certificates representing the Registrable Securities to be sold pursuant to
     any Shelf Registration Statement free of any restrictive legends and in
     such denominations and registered in such names as such Holders may request
     at least two Business Days prior to settlement of sales of the Registrable
     Securities pursuant to such Shelf Registration Statement; provided that
     such Holders have (i) provided the Companies with reasonable notice prior
     to making such request and (ii) provided the Companies with such documents
     and certificates as the Companies may reasonably request.

          (h) Upon the occurrence of any event contemplated by paragraphs (ii)
     through (v) of Section 2(b) above, the Companies shall promptly prepare and
     file with the Commission a post-effective amendment to the Shelf
     Registration Statement or an amendment or supplement to the related
     prospectus or file with the Commission any such other required document, as
     the case may be, so that, as thereafter delivered to Holders or purchasers
     of Registrable Securities, the Shelf Registration Statement and the related
     prospectus will not contain an untrue statement of a material fact or omit
     to state any material fact required to be stated therein or necessary to
     make the statements therein (in the case of the related prospectus, in
     light of the circumstances under which they were

                                        7

<PAGE>

     made) not misleading. If the Companies notify the Initial Purchasers and
     the Holders of Registrable Securities in accordance with paragraphs (ii)
     through (v) of Section 2(b) above to suspend the use of the prospectus
     until the requisite changes to the prospectus have been made, then the
     Initial Purchasers and such Holders of Registrable Securities shall suspend
     use of such prospectus (such period during which the availability of the
     Shelf Registration Statement and any related prospectus is suspended being
     a "Deferral Period"), and the period of effectiveness of the Shelf
     Registration Statement provided for in Section 1(a) above shall each be
     extended by the number of days from and including the date of the giving of
     such notice to and including the date when the Initial Purchasers and the
     Holders of Registrable Securities shall have (i) been advised in writing by
     the Companies that the prospectus, in the form as had been previously made
     available to the Initial Purchasers and such Holders, may now be used or
     (ii) received such amended or supplemented prospectus pursuant to this
     Section 2(h). The Companies will use their reasonable best efforts to
     ensure that the use of the prospectus related to an effective Shelf
     Registration Statement may be resumed as promptly as is practicable. The
     Companies shall be entitled to exercise their right under this Section 2(h)
     to suspend the availability of the Shelf Registration Statement or any
     related prospectus, without incurring or accruing any obligation to pay
     Additional Interest pursuant to Section 5(a), for one or more periods not
     to exceed 45 days in any 3-month period and not to exceed, in the
     aggregate, 90 days in any 12-month period.

          (i) Prior to the effective date of the Initial Shelf Registration
     Statement, the Companies will provide (i) the Holders a CUSIP number for
     the Registrable Securities and (ii) the Trustee with global certificates
     for the Securities in a form eligible for deposit with The Depository Trust
     Company.

          (j) The Companies shall prepare and file with the Commission such
     amendments and post-effective amendments to each Shelf Registration
     Statement as may be necessary to keep such Shelf Registration Statement
     continuously effective for the applicable period specified in Section 1(a)
     and shall cause the related prospectus to be supplemented by any required
     prospectus supplement to be filed pursuant to Rule 424 under the Securities
     Act (or any similar provisions then in force).

          (k) The Companies will comply with all rules and regulations of the
     Commission to the extent and so long as they are applicable to the Shelf
     Registration Statement and will make generally available to its
     securityholders an earnings statement satisfying the provisions of Section
     11(a) of the Securities Act and Rule 158 under the Securities Act, no later
     than 45 days after the end of a 12-month period (or 90 days, if such period
     is a fiscal year) beginning with the first day of the Company's first
     fiscal quarter commencing after the effective date of the Shelf
     Registration Statement or each post-effective amendment to any Shelf
     Registration, which statement shall cover such 12-month period.

          (l) The Companies shall cause the Indenture to be qualified under the
     Trust Indenture Act of 1939, as amended, not later than the effective date
     of the Initial Shelf Registration Statement containing such changes, if
     any, as shall be necessary for such qualification. In the event that such
     qualification would require the appointment of a new trustee under the
     Indenture, the Companies shall appoint a new

                                        8

<PAGE>

     trustee thereunder pursuant to the applicable provisions of the Indenture.

          (m) The Companies may require each Holder of Registrable Securities to
     be sold pursuant to a Shelf Registration Statement to furnish to the
     Companies such information regarding such Holder and the distribution of
     the Registrable Securities that may from time to time be required by the
     Securities Act for inclusion in a Shelf Registration Statement, and the
     Companies may exclude from such registration the Registrable Securities of
     any Holder that unreasonably fails to furnish such information within a
     reasonable time after receiving such request.

          (n) The Companies shall enter into such customary agreements and take
     all such other action as any Holder shall reasonably request in order to
     facilitate the disposition of the Registrable Securities pursuant to any
     Shelf Registration Statement.

          (o) The Companies shall (i) make available, at reasonable times and in
     a reasonable manner, for inspection by the Notice Holders, any underwriter
     participating in any disposition pursuant to a Shelf Registration Statement
     and any attorney, accountant or other agent retained by the Notice Holders
     or any such underwriter, all relevant financial and other records,
     pertinent corporate documents and properties of the Companies and (ii)
     cause the officers, directors, employees, accountants, attorneys and
     auditors of the Companies to supply all relevant information reasonably
     requested by the Notice Holders or any such underwriter, attorney,
     accountant or agent in connection with the Shelf Registration Statement
     prior to its effectiveness, in each case, as shall be reasonably necessary
     to enable such persons, to conduct a reasonable investigation within the
     meaning of Section 11 of the Securities Act; provided, however, that the
     foregoing inspection and information gathering shall be coordinated on
     behalf of the Notice Holders and other parties, by one counsel designated
     by and on behalf of the Majority Holders.

          (p) The Companies will use their reasonable best efforts to confirm
     that the respective credit ratings of the Securities provided by Standard &
     Poor's Rating Services, a division of McGraw Hill, Inc., and Moody's
     Investors Service, Inc. prior to the initial sale of such Securities will
     apply to any such Securities which are Registrable Securities and are
     covered by a Shelf Registration Statement, and if the Securities are not
     rated at the time of the effectiveness of a Shelf Registration Statement,
     cause the Registrable Securities covered by a Shelf Registration Statement
     to be rated with the appropriate rating agencies, if so requested by
     Majority Holders who are Notice Holders.

          (q) The Companies will use their reasonable best efforts to cooperate
     and assist in, and provide such information as is required for, any filings
     required to be made with the National Association of Securities Dealers,
     Inc.

          (r) The Companies shall use their reasonable best efforts to take all
     other steps necessary to effect the registration of the Registrable
     Securities covered by a Shelf Registration Statement contemplated hereby.

                                        9

<PAGE>

          (s) The Companies shall cause the Underlying Common Stock to be listed
     on the Nasdaq National Market or any other securities exchange or automated
     quotation system on which the Registrable Securities are then listed.

          3. Registration Expenses.

          (a) All expenses incident to the Companies' performance of and
compliance with this Agreement will be borne by the Companies, regardless of
whether a Shelf Registration Statement is ever filed or becomes effective,
including without limitation:

          (i) all registration and filing fees and expenses;

          (ii) all fees and expenses of compliance with federal securities and
     state "blue sky" or securities laws;

          (iii) all expenses of printing, messenger and delivery services and
     telephone;

          (iv) all fees and disbursements of counsel for the Companies;

          (v) all rating agency expenses and application and filing fees in
     connection with listing the Underlying Common Stock on the Nasdaq National
     Market; and

          (vi) all fees and disbursements of independent certified public
     accountants of the Companies (including the expenses of any special audit
     and comfort letters required by or incident to such performance).

          (b) The Companies will bear their internal expenses (including,
without limitation, all salaries and expenses of their respective officers and
employees performing legal or accounting duties), the expenses of any annual
audit and the fees and expenses of any person, including special experts,
retained by the Companies.

          (c) In connection with any Shelf Registration Statement required by
this Agreement, the Companies will bear or reimburse the Notice Holders for the
reasonable fees and disbursements of one firm of legal counsel, which shall
initially be Shearman & Sterling, but which may, with the written consent of
Wachovia Securities, Inc. (which consent shall not be unreasonably withheld), be
another nationally recognized law firm experienced in securities law matters
designated by the Companies.

          4. Indemnification.

          (a) The Companies, jointly and severally, agree to indemnify and hold
harmless (i) the Initial Purchasers, (ii) each other Holder, (iii) each person,
if any, who controls (within the meaning of Section 15 or Section 20 of the
Exchange Act) the Initial Purchasers or such Holder, (iv) the respective
officers, directors, employees, partners, representatives and agents of the
persons referred to in clause (i), (ii) or (iii) (any person referred to in
clause (i), (ii), (iii) or (iv) is collectively referred to for purposes of this
Section 4 as a "Holder Indemnified Party") from and against any losses, claims,
damages or liabilities, joint or several, or any actions in respect thereof
(including, but not limited to, any losses, claims, damages, liabilities or
actions

                                       10

<PAGE>

relating to purchases and sales of the Registrable Securities) to which each
Holder Indemnified Party may become subject, whether commenced or threatened,
under the Securities Act, the Exchange Act, other federal, state or local law or
regulation, at common law or otherwise, insofar as such losses, claims, damages,
liabilities or actions arise out of, or are based upon, any untrue statement or
alleged untrue statement of a material fact contained in a Shelf Registration
Statement or prospectus or in any amendment or supplement thereto or in any
preliminary prospectus relating thereto, or arise out of, or are based upon, the
omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein not misleading, and
shall reimburse, as incurred, the Holder Indemnified Parties for any legal or
other expenses reasonably incurred by them in connection with investigating or
defending any such loss, claim, damage, liability or action in respect thereof;
provided, however, that (i) the Companies shall not be liable in any such case
to the extent that such loss, claim, damage or liability arises out of or is
based upon any untrue statement or alleged untrue statement or omission or
alleged omission made in the Shelf Registration Statement or prospectus or in
any amendment or supplement thereto or in any preliminary prospectus relating to
the Shelf Registration in reliance upon and in conformity with written
information pertaining to a Holder and furnished to the Companies by or on
behalf of such Holder specifically for inclusion therein, (ii) the Companies
shall not be liable to any Holder Indemnified Party that uses a Shelf
Registration Statement or related prospectus during a period when a stop order
has been issued in respect of such Shelf Registration Statement or any
proceedings for that purpose have been initiated, provided that, in any such
case, the Companies have provided notice thereof to the Notice Holders within a
reasonable period of time prior to the use by such Notice Holder of such Shelf
Registration Statement or related prospectus and (iii) the Companies shall not
be liable to any Holder Indemnified Party with respect to any untrue statement
or omission or alleged untrue statement or omission made in any preliminary
prospectus relating to a Shelf Registration to the extent that any such loss,
claim, damage or liability of such Holder Indemnified Party results from the
fact that such Holder Indemnified Party sold Registrable Securities to a person
as to whom it shall be established that there was not sent or given, at or prior
to the written confirmation of such sale, a copy of the final prospectus
relating to such Shelf Registration Statement in any case where such delivery is
required by the Securities Act, provided that the Companies had previously
furnished copies thereof in sufficient quantities to such Holder Indemnified
Party and the loss, claim, damage or liability of such Indemnified Party results
from an untrue statement or omission of a material fact contained in the
preliminary prospectus that was (i) identified to such Holder Indemnified Party
at or prior to the earlier of the filing with the Commission or the furnishing
to such Holder Indemnified Party of the corrected prospectus and (ii) corrected
in the final prospectus. This indemnity agreement will be in addition to any
liability which the Companies may otherwise have to such Holder Indemnified
Party.

          (b) Each Holder of Registrable Securities, severally and not jointly,
will indemnify and hold harmless the Companies and their respective officers,
directors, employees, partners, representatives and agents and each person, if
any, who controls any of the Companies within the meaning of Section 15 or
Section 20 of the Exchange Act (collectively referred to for purposes of this
Section 4 as the "Company Indemnified Party") from and against any losses,
claims, damages or liabilities or any actions in respect thereof, to which the
Company Indemnified Party may become subject, whether commenced or threatened,
under the Securities Act, the Exchange Act, other federal, state or local law or
regulation, at common law or otherwise, insofar as such losses, claims, damages,
liabilities or actions arise out of or are based

                                       11

<PAGE>

upon any untrue statement or alleged untrue statement of a material fact
contained in a Shelf Registration Statement or prospectus or in any amendment or
supplement thereto or in any preliminary prospectus relating thereto, or arise
out of or are based upon the omission or alleged omission to state therein a
material fact necessary to make the statements therein not misleading, but in
each case only to the extent that the untrue statement or omission or alleged
untrue statement or omission was made in reliance upon and in conformity with
written information pertaining to such Holder and furnished to the Company by or
on behalf of such Holder specifically for inclusion therein; and, subject to the
limitation set forth immediately preceding this clause, shall reimburse, as
incurred, the Company Indemnified Party for any legal or other expenses
reasonably incurred by such Company Indemnified Party in connection with
investigating or defending any loss, claim, damage, liability or action in
respect thereof. This indemnity agreement will be in addition to any liability
which such Holder may otherwise have to the Company Indemnified Party.

          (c) Promptly after receipt by an indemnified party under this Section
4 of notice of the commencement of any action or proceeding (including a
governmental investigation), such indemnified party will, if a claim in respect
thereof is to be made against the indemnifying party under this Section 4,
notify the indemnifying party of the commencement thereof; but the failure so to
notify the indemnifying party will not, in any event, relieve the indemnifying
party from liability to any indemnified party under paragraph (a) or (b) above
unless and to the extent it did not otherwise learn of such action and such
failure results in the forfeiture by the indemnifying party of rights and
defenses. In case any such action is brought against any indemnified party, and
it notifies the indemnifying party of the commencement thereof, the indemnifying
party will be entitled to participate therein and, to the extent that it may
wish, jointly with any other indemnifying party similarly notified, to assume
the defense thereof, with counsel reasonably satisfactory to such indemnified
party (who shall not, except with the consent of the indemnified party, be
existing counsel to the indemnifying party), and after notice from the
indemnifying party to such indemnified party of its election so to assume the
defense thereof the indemnifying party will not be liable to such indemnified
party under this Section 4 for any legal or other expenses, other than
reasonable costs of investigation, subsequently incurred by such indemnified
party in connection with the defense thereof. Notwithstanding the indemnifying
party's election to assume the defense of the indemnified party in an action,
the indemnified party shall have the right to employ one separate counsel (in
addition to one local counsel) and the indemnifying party shall bear the
reasonable fees, costs and expenses of such separate counsel (and local counsel)
if (i) the use of counsel chosen by the indemnifying party to represent the
indemnified party would present such counsel with a conflict of interest, (ii)
the actual or potential defendants in, or targets of, any such action include
both the indemnified party and the indemnifying party and the indemnified party
shall have reasonably concluded that there may be legal defenses available to it
and/or other indemnified parties which are different from or additional to those
available to the indemnifying party, (iii) the indemnifying party shall not have
employed counsel satisfactory to the indemnified party to represent the
indemnified party within a reasonable time after notice of the institution of
such action or (iv) the indemnifying party shall authorize the indemnified party
to employ such separate counsel at the expense of the indemnifying party. No
indemnifying party shall, without the prior written consent of the indemnified
party, effect any settlement of any pending or threatened action in respect of
which any indemnified party is or could have been a party and indemnity could
have been sought hereunder by such indemnified party unless such settlement
includes an unconditional release of

                                       12

<PAGE>

such indemnified party from all liability on any claims that are the subject
matter of such action, and does not include a statement as to or an admission of
fault, culpability or a failure to act by or on behalf of any indemnified party.
If at any time an indemnified party shall have requested an indemnifying party
to reimburse the indemnified party for fees and expenses of counsel, of the
nature contemplated by this Section 4(c) and such indemnifying party has not, in
good faith, provided the indemnified party with written notice stating that such
indemnifying party disputes the amount of the request for reimbursement made by
such indemnified party or the applicability of Section 4 hereof to such
indemnified party's request for reimbursement, such indemnifying party agrees
that it shall be liable for any settlement effected without its written consent
if (i) such settlement is entered into more than 45 days after receipt by such
indemnifying party of the aforesaid request, (ii) such indemnifying party shall
have received notice of the terms of such settlement at least 30 days prior to
such settlement being entered into, (iii) such indemnifying party shall not have
reimbursed such indemnified party in accordance with such request prior to the
date of such settlement.

          (d) If the indemnification provided for in this Section 4 is
unavailable or insufficient to hold harmless an indemnified party under
subsections (a) or (b) above, then each indemnifying party shall contribute to
the amount paid or payable by such indemnified party as a result of the losses,
claims, damages or liabilities, or actions in respect thereof (including legal
or other expenses reasonably incurred in connection with any investigation or
defense), referred to in subsection (a) or (b) above: (i) in such proportion as
is appropriate to reflect the relative benefits received by the indemnifying
party or parties or (ii) if the allocation provided for in the foregoing clause
(i) is not permitted by applicable law, in such proportion as is appropriate to
reflect not only the relative benefits referred to in clause (i) above but also
the relative fault of the indemnifying party or parties on the one hand and the
indemnified party on the other in connection with the statements or omissions
that resulted in such losses, claims, damages or liabilities (or actions in
respect thereof) as well as any other relevant equitable considerations. The
relative fault of the parties shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information
supplied by the Companies on the one hand or a Holder, on the other, and the
parties' relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission. Notwithstanding any other
provision of this Section 4(d), the Holders of Registrable Securities shall not
be required to contribute any amount in excess of the amount by which the net
proceeds received by such Holders from the sale of the Registrable Securities
pursuant to a Shelf Registration Statement exceeds the amount of damages which
such Holders have otherwise been required to pay by reason of such untrue or
alleged untrue statement or omission or alleged omission. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation. For purposes of this subsection
(d), each person, if any, who controls such Holder Indemnified Party within the
meaning of Section 15 or Section 20 of the Exchange Act shall have the same
rights to contribution as such Holder Indemnified Party and each person, if any,
who controls the Companies within the meaning of Section 15 or Section 20 of the
Exchange Act shall have the same rights to contribution as the Companies.

          (e) The agreements contained in this Section 4 shall survive the sale
of the Registrable Securities pursuant to a Shelf Registration Statement and
shall remain in full force

                                       13

<PAGE>

and effect, regardless of any termination or cancellation of this Agreement or
any investigation made by or on behalf of any indemnified party.

          5. Additional Interest Under Certain Circumstances.

          (a) The Companies and the Initial Purchasers agree that the Holders of
Registrable Securities will suffer damages if the Companies fail to fulfill
their obligations herein. Accordingly, additional interest (the "Additional
Interest") with respect to the Registrable Securities shall be assessed as
follows if any of the following events occur (each such event in clauses (i)
through (iv) below being herein called a "Registration Default"):

          (i) the Initial Shelf Registration Statement required by this
     Agreement is not filed with the Commission on or prior to the Filing
     Deadline;

          (ii) the Initial Shelf Registration Statement required by this
     Agreement is not declared effective by the Commission on or prior to the
     Effectiveness Deadline Date;

          (iii) the Companies have failed to perform their obligations set forth
     in Section 1(d) within the time period required therein; or

          (iv) any Shelf Registration Statement required by this Agreement has
     been declared effective by the Commission but (A) such Shelf Registration
     Statement ceases to be effective (without being succeeded immediately by an
     additional Shelf-Registration Statement filed and declared effective) or
     (B) the Shelf Registration Statement and the related prospectus ceases to
     be useable in connection with resales of Registrable Securities during
     periods specified herein (in each case other than during a Deferral Period)
     and the Companies do not cure the default and make the Shelf Registration
     Statement and the prospectus useable within five Business Days or, if
     applicable, the Companies do not terminate the Deferral Period within the
     time provided for in the last sentence of Section 2(h).

          Each of the foregoing will constitute a Registration Default whatever
the reason for any such event and whether it is voluntary or involuntary or is
beyond the control of the Companies or pursuant to operation of law or as a
result of any action or inaction by the Commission.

          (b) Additional Interest shall accrue on the Registrable Securities
over and above the interest set forth in the title of the Registrable Securities
from and including the date on which any such Registration Default shall occur
to but excluding the date on which all such Registration Defaults have been
cured, at a rate of 0.50% per annum (the "Additional Interest Rate") of the
aggregate principal amount of the Securities that are Registrable Securities. In
the case of Securities that have been converted into or exchanged for Underlying
Common Stock, Additional Interest shall accrue at a per annum rate equal to
0.50% of the Applicable Conversion Price of such shares of Underlying Common
Stock that are Registrable Securities. In the case of Additional Interest
accruing solely as a result of a Registration Default of the type described in
Section 5(a)(iii), such Additional Interest shall be paid only to the Notice
Holders that caused the Companies to incur the obligations set forth in Section
1(d) the non-performance of which is the basis of such Registration Default. Any
Additional Interest accrued with respect to any principal

                                       14

<PAGE>

amount of Securities called for redemption on a redemption date or converted
into Underlying Common Stock on a conversion date prior to the interest payment
date with respect to such Securities under the Indenture, shall, in any such
event, be paid instead to the Holder who submitted such Securities for
redemption or conversion on the applicable redemption date or conversion date,
as the case may be, on such date (or promptly following the conversion date, in
the case of conversion) to the extent set forth in the Indenture.
Notwithstanding the foregoing, no Additional Interest shall accrue as to any
Registrable Security from and after the earlier of (x) the date such security is
no longer a Registrable Security and (y) the expiration of the Effectiveness
Period. The rate of accrual of the Additional Interest with respect to any
period shall not exceed the rate provided for in this paragraph notwithstanding
the occurrence of multiple concurrent Registration Defaults. Following the cure
of all Registration Defaults requiring the payment by the Companies of
Additional Interest to the Holders of Registrable Securities pursuant to this
Section 5, the accrual of Additional Interest will cease (without in any way
limiting the effect of any subsequent Registration Default requiring the payment
of Additional Interest by the Companies). No monetary damages, other than as
specified herein, shall be available to the Holders of Registrable Securities
for a Registration Default, except in the case of fraud, bad faith or gross
misconduct.

          (c) Subject to the last sentence of the preceding paragraph, the
Trustee shall be entitled, on behalf of Holders of Registrable Securities, to
seek any available remedy for the enforcement of this Agreement, including for
the payment of any Additional Interest.

          (d) All of the Companies' obligations set forth in this Section 5 that
are outstanding with respect to any Registrable Security at the time such
security ceases to be a Registrable Security shall survive until such time as
all such obligations with respect to such security have been satisfied in full.

          (e) The parties hereto agree that the Additional Interest provided for
in this Section 5 constitutes a reasonable estimate of the damages that may be
incurred by Holders of Registrable Securities by reason of the failure of the
Shelf Registration Statement to be filed or declared effective or available for
effecting resales of Registrable Securities in accordance with the provisions
hereof.

          (f) Any amounts of Additional Interest due pursuant to Section 5(a)
will be payable in cash on the regular interest payment dates with respect to
the Registrable Securities. The amount of Additional Interest will be determined
by multiplying the applicable Additional Interest Rate by the principal amount
of the Registrable Securities or the Applicable Conversion Price of the
Registrable Securities, as applicable, and further multiplied by a fraction, the
numerator of which is the number of days such Additional Interest Rate was
applicable during such period (determined on the basis of a 360-day year
comprised of twelve 30-day months), and the denominator of which is 360. The
Registrable Securities entitled to payment of Additional Interest shall be
determined as of the Business Day immediately preceding the next regular
interest payment date with respect to the Registrable Securities.

          6. Rules 144 and 144A. The Companies shall use their reasonable best
efforts to file the reports required to be filed by it under the Securities Act
and the Exchange Act in a timely manner. If at any time the Companies are not
required to file such reports, they will,

                                       15

<PAGE>

upon the request of any Holder, make available such other information necessary
to permit sales of their securities pursuant to Rule 144 and Rule 144A under the
Securities Act. The Companies covenant that they will take such further action
as any Holder may reasonably request, all to the extent required from time to
time to enable such Holder to sell Registrable Securities without registration
under the Securities Act within the limitation of the exemptions provided by
Rules 144 and 144A (including the requirements of Rule 144A(d)(4)). The
Companies will provide a copy of this Agreement to prospective purchasers of
Securities identified to the Companies by the Initial Purchasers upon request.
Upon the request of any Holder of Registrable Securities, the Companies shall
deliver to such Holder a written statement as to whether it has complied with
such filing requirements. Notwithstanding the foregoing, nothing in this Section
6 shall be deemed to require the Companies to register any of their securities
pursuant to the Exchange Act.

          7. Underwritten Registrations.

          (a) If any of the Registrable Securities covered by any Shelf
Registration are to be sold in an underwritten offering, the investment banker
or investment bankers and manager or managers that will administer the offering
will be selected by the Majority Holders whose Registrable Securities are to be
included in such offering, provided, however, that such underwriters shall be
reasonably satisfactory to the Company.

          (b) No person may participate in any underwritten registration
hereunder unless such person (i) agrees to sell such person's Registrable
Securities on the basis reasonably provided in any underwriting arrangements
approved by the persons entitled hereunder to approve such arrangements and (ii)
completes and executes all questionnaires, powers of attorney, indemnities,
underwriting agreements and other documents reasonably required under the terms
of such underwriting arrangements.

          8. Miscellaneous.

          (a) Remedies. The Companies acknowledge and agree that any failure by
the Companies to comply with its obligations under Section 1 and 2 hereof may
result in material irreparable injury to the Initial Purchasers and/or the
Holders for which there is no adequate remedy at law, that it will not be
possible to measure damages for such injuries precisely and that, in the event
of any such failure, the Initial Purchasers or any Holder may obtain such relief
as may be required to specifically enforce the Companies' obligations under
Sections 1 and 2 hereof. The Companies further agree to waive the defense in any
action for specific performance that a remedy at law would be adequate.

          (b) No Inconsistent Agreements. The Companies will not on or after the
date of this Agreement enter into any agreement with respect to its securities
that is inconsistent with the rights granted to the Holders in this Agreement or
otherwise conflicts with the provisions hereof. Each of the Companies represent
and warrant that the rights granted to the Holders hereunder do not in any way
conflict with and are not inconsistent with the rights granted to the holders of
the securities of any of the Companies under any agreement in effect on the date
hereof.

                                       16

<PAGE>

          (c) Amendments and Waivers. The provisions of this Agreement may not
be amended, modified or supplemented, and waivers or consents to departures from
the provisions hereof may not be given, except by the Companies and the written
consent of the Majority Holders affected by such amendment, modification,
supplement, waiver or consents, provided, however, with respect to any matter
that directly or indirectly affects the rights of the Initial Purchasers, the
Companies shall obtain the written consent of each of the Initial Purchasers
against which such amendment, qualification, supplement, waiver or consent is to
be effective. Notwithstanding the foregoing (except the foregoing proviso), a
waiver or consent to departure from the provisions hereof with respect to a
matter that relates exclusively to the rights of Holders whose Registrable
Securities are being sold pursuant to a Shelf Registration Statement and that
does not directly or indirectly affect the rights of other Holders may be given
by the Majority Holders, determined on the basis of the Registrable Securities
being sold rather than registered under such Shelf Registration Statement or
owned.

          (d) Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand delivery, first-class mail,
facsimile transmission, or air courier that guarantees overnight delivery:

          (1) if to a Holder of the Registrable Securities, at the most current
     address of such Holder maintained by the registrar under the Indenture or
     the Company's registrar and transfer agent of the Common Stock or, in the
     case of a Notice Holder, the address set forth in such Holder's Notice and
     Questionnaire;

          (2)  if to the Initial Purchasers

               c/o Wachovia Securities, Inc.
               One Wachovia Center
               301 South College Street
               Charlotte, North Carolina 28288-0604
               Fax No.: 704-715-6099
               Attention: Dour Sleeper

          with a copy to:

               Shearman & Sterling
               599 Lexington Avenue
               New York, New York 10022-6069
               Fax No.: 212-848-7179
               Attention: Joel S. Klaperman

                                       17

<PAGE>

          (3)  if to the Companies, at the address as follows:

               c/o Global Imaging Systems, Inc.
               3820 Northdale Boulevard
               Suite 200A
               Tampa, Florida
               Fax No.: 813-342-1075
               Attention: Raymond Schilling

          with a copy to:

               Hogan & Hartson LLP
               555 13th St., N.W.
               Washington, D.C. 20004
               Fax No.: 202-637-5910
               Attention: Suzanne A. Barr

          All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; three business
days after being deposited in the mail, postage prepaid, if mailed; when receipt
is acknowledged by recipient's facsimile machine operator, if sent by facsimile
transmission; and on the day delivered, if sent by overnight air courier
guaranteeing next day delivery.

          (e) Third-Party Beneficiaries. The Holders shall be third-party
beneficiaries to the agreements made hereunder between the Companies, on the one
hand, and the Initial Purchasers, on the other hand, and shall have the right to
enforce such agreements directly to the extent they may deem such enforcement
necessary or advisable to protect their rights or the rights of Holders
hereunder.

          (f) Successors and Assigns. This Agreement shall be binding upon the
Companies and its successors and assigns.

          (g) Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

          (h) Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

          (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO
PRINCIPLES OF CONFLICTS OF LAWS.

          (j) Severability. If any one or more of the provisions contained
herein, or the application thereof in any circumstance, is held invalid, illegal
or unenforceable, the validity,

                                       18

<PAGE>

legality and enforceability of any such provision in every other respect and of
the remaining provisions contained herein shall not be affected or impaired
thereby.

          (k) Securities Held by the Companies. Whenever the consent or approval
of Holders of a specified percentage of principal amount of Registrable
Securities is required hereunder, Registrable Securities held by the Companies
or their affiliates (as such term is defined in Rule 405 under the Securities
Act), other than subsequent Holders of Registrable Securities if such subsequent
Holders are deemed to be affiliates solely by reason of their holdings of such
Registrable Securities, shall not be counted in determining whether such consent
or approval was given by the Holders of such required percentage.

                                       19

<PAGE>

          If the foregoing is in accordance with your understanding of our
agreement, please sign and return to the Initial Purchasers a counterpart
hereof, whereupon this instrument, along with all counterparts, will become a
binding agreement between the Initial Purchasers and the Companies in accordance
with its terms.

                                          Very truly yours,

                                          GLOBAL IMAGING SYSTEMS, INC.

                                          By: /s/ Raymond Schilling
                                              ----------------------------------
                                          Name:  Raymond Schilling
                                          Title: Senior Vice President and Chief
                                                 Financial Officer, Treasurer
                                                 and Secretary

                                       20

<PAGE>

                                          ARIZONA OFFICE TECHNOLOGIES, INC.
                                          AVPRESENTATIONS, INC.
                                          BUSINESS EQUIPMENT UNLIMITED
                                          CARR BUSINESS SYSTEMS, INC.
                                          CENTRE BUSINESS PRODUCTS, INC.
                                          COLUMN OFFICE EQUIPMENT, INC.
                                          COMMERCIAL EQUIPMENT COMPANY
                                          COPY SERVICE AND SUPPLY, INC.
                                          DANIEL COMMUNICATIONS, INC.
                                          DISTINCTIVE BUSINESS PRODUCTS, INC.
                                          DUPLICATING SPECIALTIES, INC.
                                          ECOM-DIVISION, INC.
                                          ELECTRONIC SYSTEMS, INC.
                                          LEWAN & ASSOCIATES, INC.
                                          N&L ENTERPRISES, LLC
                                          PACIFIC OFFICE SOLUTIONS, INC.
                                          PROVIEW, INC.
                                          QUALITY BUSINESS SYSTEMS, INC.
                                          SOUTHERN BUSINESS COMMUNICATIONS, INC.
                                          ELECTRONIC SYSTEMS OF RICHMOND, INC.
                                          AMERICAN PHOTOCOPY EQUIPMENT
                                             COMPANY OF PITTSBURGH, LLC
                                          BERNEY OFFICE SOLUTIONS, LLC
                                          CAMERON OFFICE PRODUCTS, LLC
                                          CAPITOL OFFICE SOLUTIONS, LLC
                                          CONNECTICUT BUSINESS SYSTEMS, LLC
                                          CONWAY OFFICE PRODUCTS, LLC
                                          EASTERN COPY PRODUCTS, LLC
                                          GLOBAL IMAGING FINANCE COMPANY, LLC
                                          GLOBAL IMAGING OPERATIONS, LLC
                                          MODERN BUSINESS MACHINES, LLC
                                          NORTHEAST COPIER SYSTEMS, LLC
                                          OFFICE TECH, LLC
                                          GLOBAL OPERATIONS TEXAS, L.P.

                                          By: /s/ Raymond Schilling
                                              ----------------------------------
                                              Name:  Raymond Schilling
                                              Title: Vice President, of each
                                                     entity listed above

                                       21

<PAGE>

The foregoing Registration Rights
Agreement is hereby confirmed and
accepted as of the date first above
written.

WACHOVIA SECURITIES, INC.
RAYMOND JAMES & ASSOCIATES, INC.
SUNTRUST CAPITAL MARKETS, INC.
ROBERT W. BAIRD & CO. INCORPORATED

WACHOVIA SECURITIES, INC.
For itself and the other Initial Purchasers

By: /s/ Mary Louise Guttmann
    ---------------------------------
    Name:  Mary Louise Guttmann
    Title: Senior Vice President

                                       22

<PAGE>

                                                                      SCHEDULE A

                                   Guarantors

ARIZONA OFFICE TECHNOLOGIES, INC.
AVPRESENTATIONS, INC.
BUSINESS EQUIPMENT UNLIMITED
CARR BUSINESS SYSTEMS, INC.
CENTRE BUSINESS PRODUCTS, INC.
COLUMN OFFICE EQUIPMENT, INC.
COMMERCIAL EQUIPMENT COMPANY
COPY SERVICE AND SUPPLY, INC.
DANIEL COMMUNICATIONS, INC.
DISTINCTIVE BUSINESS PRODUCTS, INC.
DUPLICATING SPECIALTIES, INC.
ECOM-DIVISION, INC.
ELECTRONIC SYSTEMS, INC.
LEWAN & ASSOCIATES, INC.
N&L ENTERPRISES, LLC
PACIFIC OFFICE SOLUTIONS, INC.
PROVIEW, INC.
QUALITY BUSINESS SYSTEMS, INC.
SOUTHERN BUSINESS COMMUNICATIONS, INC.
ELECTRONIC SYSTEMS OF RICHMOND, INC.
AMERICAN PHOTOCOPY EQUIPMENT COMPANY OF PITTSBURGH, LLC
BERNEY OFFICE SOLUTIONS, LLC
CAMERON OFFICE PRODUCTS, LLC
CAPITOL OFFICE SOLUTIONS, LLC
CONNECTICUT BUSINESS SYSTEMS, LLC
CONWAY OFFICE PRODUCTS, LLC
EASTERN COPY PRODUCTS, LLC
GLOBAL IMAGING FINANCE COMPANY, LLC
GLOBAL IMAGING OPERATIONS, LLC
MODERN BUSINESS MACHINES, LLC
NORTHEAST COPIER SYSTEMS, LLC
OFFICE TECH, LLC
GLOBAL OPERATIONS TEXAS, L.P.

To include each such subsidiary of the Company that becomes a Guarantor after
the date hereof pursuant to the terms of the Indenture.

                                      A-1

<PAGE>

                                                                         ANNEX A

                          GLOBAL IMAGING SYSTEMS, INC.

             Form of Selling Securityholder Notice and Questionnaire

                4% Convertible senior subordinated notes due 2008

     The undersigned beneficial owner of 4% Convertible Senior Subordinated
Notes due 2008 (the "Notes") of Global Imaging Systems, Inc. ("Global") or
common stock, $.01 par value (the "Common Stock" and, together with the Notes,
the "Registrable Securities"), of Global understands that Global has filed or
intends to file with the Securities and Exchange Commission (the "Commission") a
registration statement or registration statements on Form S-3 (collectively, the
"Shelf Registration Statement") for the registration and resale under Rule 415
of the Securities Act of 1933, as amended (the "Securities Act"), of the
Registrable Securities, in accordance with the terms of the Registration Rights
Agreement, dated as of May 16, 2003 (the "Registration Rights Agreement"),
between Global and the initial purchaser named therein. A copy of the
Registration Rights Agreement is available from Global upon request at the
address set forth below. All capitalized terms not otherwise defined herein
shall have the meaning ascribed thereto in the Registration Rights Agreement.

     Each beneficial owner of Registrable Securities is entitled to the benefits
of the Registration Rights Agreement. In order to sell or otherwise dispose of
any Registrable Securities pursuant to the Shelf Registration Statement, a
beneficial owner of Registrable Securities generally will be required to be
named as a selling securityholder in the related prospectus, deliver a
prospectus to purchasers of Registrable Securities and be bound by those
provisions of the Registration Rights Agreement applicable to such beneficial
owner (including certain indemnification provisions described below). Beneficial
owners that do not complete this Notice and Questionnaire and deliver it to
Global as provided below will not be named as selling securityholders in the
prospectus and therefore will not be permitted to sell any Registrable
Securities pursuant to the Shelf Registration Statement. Beneficial owners are
encouraged to complete and deliver this Notice and Questionnaire at least 5
business days prior to the initial effectiveness of the Shelf Registration
Statement so that such beneficial owners may be named as selling securityholders
in the related prospectus at the time of effectiveness. Upon receipt of a
completed Notice and Questionnaire from a beneficial owner following the initial
effectiveness of the Shelf Registration Statement, Global will, as promptly as
practicable, file such amendments to a Shelf Registration Statement or
supplements to the related prospectus or file a new Shelf Registration
Statement, as necessary, to permit such holder to deliver such prospectus to
purchasers of Registrable Securities. Global has agreed to pay additional
interest damages pursuant to the Registration Rights Agreement under certain
circumstances set forth therein.

     Certain legal consequences arise from being named as a selling
securityholder in a Shelf Registration Statement and the related prospectus.
Accordingly, holders and beneficial owners of Registrable Securities are advised
to consult their own securities law counsel regarding the consequences of being
named or not being named as a selling securityholder in a Shelf Registration
Statement and the related prospectus.

                                     Notice

     The undersigned beneficial owner (the "Selling Securityholder") of
Registrable Securities hereby gives notice to Global of its intention to sell or
otherwise dispose of Registrable Securities beneficially owned by it and listed
below in Item 3 (unless otherwise specified under such Item 3) pursuant to the
Shelf Registration Statement. The undersigned, by signing and returning this
Notice and Questionnaire, understands that it will be bound by the terms and
conditions of this Notice and Questionnaire and the Registration Rights
Agreement.

     Pursuant to the Registration Rights Agreement, the undersigned has agreed
to indemnify and hold harmless Global's directors and officers and each person,
if any, who controls Global within the meaning of either Section 15 of the
Securities Act or Section 20 of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), from and against certain losses arising in connection with
statements concerning the undersigned made in Global's Shelf Registration
Statement or the related prospectus in reliance upon the information provided in
this Notice and Questionnaire.

                                      A-1

<PAGE>

     If the Selling Securityholder transfers all or any portion of the
Registrable Securities listed in Item 3 below after the date on which such
information is provided to Global, the Selling Securityholder agrees to notify
the transferee(s) at the time of the transfer of its rights and obligations
under this Notice and Questionnaire and the Registration Rights Agreement.

                                  Questionnaire

     Please respond to every item, even if your response is "none." If you need
more space for any response, please attach additional sheets of paper. Please be
sure to write your name and the number of the item being responded to on each
such additional sheet of paper and sign each such additional sheet of paper and
attach it to this Questionnaire. Please note that you may be asked to answer
additional questions depending on your responses to the following questions.

     If you have any questions about the contents of this Questionnaire or as to
who should complete this Questionnaire, please contact Raymond Schilling at
Global at (813) 960-5508.

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

 COMPLETED QUESTIONNAIRES SHOULD BE RETURNED TO GLOBAL IN THE FOLLOWING MANNER:

                              COPY BY FACSIMILE TO:

                               Corporate Secretary

                                Fax: 813-264-7877

                  WITH THE ORIGINAL COPY TO FOLLOW BY MAIL TO:

                          Global Imaging Systems, Inc.
                            3820 Northdale Boulevard
                                   Suite 200A
                              Tampa, Florida 33624
                         Attention: Corporate Secretary

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

     The undersigned hereby provides the following information to Global and
represents and warrants that such information is accurate and complete:

1.   Your Identity and Background as the Beneficial Owner of the Registrable
     Securities.

     (a)  Your full legal name:

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

     (b)  Your business address (including street address) (or residence if no
          business address), telephone number and facsimile number:

          Address:
                         -------------------------------------------------------

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

          Telephone No.:
                         -------------------------------------------------------

          Fax No.:
                         -------------------------------------------------------

                                      A-2

<PAGE>

     (c)  Are you a broker-dealer registered pursuant to Section 15 of the
          Exchange Act?

          [ ]  Yes

          [ ]  No

     (d)  If your response to Item 1(c) above is no, are you an "affiliate" of a
          broker-dealer registered pursuant to Section 15 of the Exchange Act?

          [ ]  Yes

          [ ]  No

          For the purposes of this Item 1(d), an "affiliate" of a registered
          broker-dealer shall include any company that directly, or indirectly
          through one or more intermediaries, controls, or is controlled by, or
          is under common control with, such broker-dealer, and does not include
          any individuals employed by such broker-dealer or its affiliates.

     (e)  Full legal name of person through which you hold the Registrable
          Securities - (i.e. name of your broker or the DTC participant, if
          applicable, through which your Registered Securities are held):

          Name of broker:
                          ------------------------------------------------------

          DTC No.:
                          ------------------------------------------------------

          Contact person:
                          ------------------------------------------------------

          Telephone No.:
                          ------------------------------------------------------

2.   Your Relationship With Global.

     (a)  Have you or any of your affiliates, officers, directors or principal
          equity holders (owners of 5% or more of the equity securities of the
          undersigned) held any position or office or have you had any other
          material relationship with Global (or its predecessors or affiliates)
          within the past three years?

          [ ]  Yes

          [ ]  No

     (b)  If your response to Item 2(a) above is yes, please state the nature
          and duration of your relationship with Global:

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

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

3.   Your Interest in the Registrable Securities.

     (a)  State the type of Registrable Securities (Notes or Common Stock) and
          the principal amount or number of such Registrable Securities
          beneficially owned by you. Check any of the following that applies to
          you.

          [ ]  I own Notes:

               Principal amount and CUSIP No. of the Notes beneficially owned:

                                      A-3

<PAGE>

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

               CUSIP No(s):
                            ----------------------------------------------------

          [ ]  I own shares of Common Stock that were issued upon conversion of
               the Notes:

               Number of shares and CUSIP No. of the Common Stock beneficially
               owned:

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

               CUSIP No(s):
                            ----------------------------------------------------

     (b)  Other than as set forth in your response to Item 3(a) above, do you
          beneficially own any other securities of Global?

          [ ]  Yes

          [ ]  No

     (c)  If your answer to Item 3(b) above is yes, state the type, the
          aggregate amount and CUSIP No. of such other securities of Global
          beneficially owned by you:

          Type:
                            ----------------------------------------------------

          Aggregate amount:
                            ----------------------------------------------------

          CUSIP No.:
                            ----------------------------------------------------

     (d)  Did you acquire the securities listed in Item 3(a) above in the
          ordinary course of business?

          [ ]  Yes

          [ ]  No

     (e)  At the time of your purchase of the securities listed in Item 3(a)
          above, did you have any agreements or understandings, directly or
          indirectly, with any person to distribute the securities?

          [ ]  Yes

          [ ]  No

     (f)  If your response to Item 3(e) above is yes, please describe such
          agreements or understandings:

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

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

4.   Nature of Your Beneficial Ownership.

     (a)  If the name of the beneficial owner of the Registrable Securities set
          forth in your response to Item 1(a) above is that of a limited
          partnership, state the names of the general partners of such limited
          partnership:

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

                                      A-4

<PAGE>

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

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

     (b)  With respect to each general partner listed in Item 4(a) above who is
          not a natural person, and is not publicly held, name each shareholder
          (or holder of partnership interests, if applicable) of such general
          partner. If any of these named shareholders are not natural persons or
          publicly held entities, please provide the same information. This
          process should be repeated until you reach natural persons or a
          publicly held entity.

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

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

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

     (c)  Name your controlling shareholder(s) (the "Controlling Entity"). If
          the Controlling Entity is not a natural person and is not a publicly
          held entity, name each shareholder of such Controlling Entity. If any
          of these named shareholders are not natural persons or publicly held
          entities, please provide the same information. This process should be
          repeated until you reach natural persons or a publicly held entity.

               (A)(i) Full legal name of Controlling Entity(ies) or natural
                    person(s) with who have sole or shared voting or dispositive
                    power over the Registrable Securities:

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

               (ii) Business address (including street address) (or residence if
                    no business address), telephone number and facsimile number
                    of such person(s):

                    Address:
                               -------------------------------------------------

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

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

                    Telephone:
                               -------------------------------------------------

                    Fax:
                               -------------------------------------------------

               Name of shareholders:

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

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

               (B)(i) Full legal name of Controlling Entity(ies):

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

               (ii) Business address (including street address) (or residence if
                    no business address), telephone number and facsimile number
                    of such person(s):

                    Address:
                               -------------------------------------------------

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

                                      A-5

<PAGE>

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

                    Telephone:
                               -------------------------------------------------

                    Fax:
                               -------------------------------------------------

               (iii) Name of shareholders:

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

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

If you need more space for this response, please attach additional sheets of
paper. Please be sure to indicate your name and the number of the item being
responded to on each such additional sheet of paper, and to sign each such
additional sheet of paper before attaching it to this Questionnaire. Please note
that you may be asked to answer additional questions depending on your responses
to the following questions.

5.   Plan of Distribution.

Except as set forth below, the undersigned (including its donees or pledgees)
intends to distribute the Registrable Securities listed above in Item 3 pursuant
to the Shelf Registration Statement only as follows (if at all): Such
Registrable Securities may be sold from time to time directly by the undersigned
or, alternatively, through underwriters, broker-dealers or agents. If the
Registrable Securities are sold through underwriters, broker-dealers or agents,
the Selling Securityholder will be responsible for underwriting discounts or
commissions or agents' commissions. Such Registrable Securities may be sold in
one or more transactions at fixed prices, at prevailing market prices at the
time of sale, at varying prices determined at the time of sale or at negotiated
prices. Such sales may be effected in transactions (which may involve block
transactions) (i) on any national securities exchange or quotation service on
which the Registrable Securities may be listed or quoted at the time of sale,
(ii) in the over-the-counter market, (iii) in transactions otherwise than on
such exchanges or services or in the over-the-counter market, or (iv) through
the writing of options. In connection with sales of the Registrable Securities
or otherwise, the undersigned may enter into hedging transactions with
broker-dealers, which may in turn engage in short sales of the Registrable
Securities in the course of hedging positions they assume. The undersigned may
also sell Registrable Securities short and deliver Registrable Securities to
close out short positions, or loan or pledge Registrable Securities to
broker-dealers that in turn may sell such securities.

State any exceptions here:

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

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

Note: In no event will such method(s) of distribution take the form of an
      underwritten offering of the Registrable Securities without the prior
      agreement of Global.

     The undersigned acknowledges that its obligation to comply with the
provisions of the Exchange Act and the rules thereunder relating to stock
manipulation, particularly Regulation M thereunder (or any successor rules or
regulations), in connection with any offering of Registrable Securities pursuant
to the Registration Rights Agreement. The undersigned agrees that neither it nor
any person acting on its behalf will engage in any transaction in violation of
such provisions.

     The undersigned beneficial owner and selling securityholder hereby
acknowledges its obligations under the Registration Rights Agreement to
indemnify and hold harmless certain persons as set forth therein. Pursuant to
the Registration Rights Agreement, Global has agreed under certain circumstances
to indemnify the undersigned beneficial owner and selling securityholder against
certain liabilities.

                                      A-6

<PAGE>

     In accordance with the undersigned's obligation under the Registration
Rights Agreement to provide such information as may be required by law for
inclusion in the Shelf Registration Statement, the undersigned agrees to
promptly notify Global of any inaccuracies or changes in the information
provided herein that may occur subsequent to the date hereof at any time while a
Shelf Registration Statement remains effective.

     All notices to the beneficial owner hereunder and pursuant to the
Registration Rights Agreement shall be made in writing to the undersigned at the
address set forth in Item 1(b) of this Notice and Questionnaire.

     By signing below, the undersigned acknowledges that it is the beneficial
owner of the Registrable Securities set forth herein, represents that the
information provided herein is accurate, consents to the disclosure of the
information contained in this Notice and Questionnaire and the inclusion of such
information in the Shelf Registration Statement and the related prospectus. The
undersigned understands that such information will be relied upon by Global in
connection with the preparation or amendment of the Shelf Registration Statement
and the related prospectus and any filing of a new Shelf Registration Statement.

     Once this Notice and Questionnaire is executed by the undersigned
beneficial owner and received by Global, the terms of this Notice and
Questionnaire, and the representations and warranties contained herein, shall be
binding on, shall inure to the benefit of and shall be enforceable by the
respective successors, heirs, personal representatives and assigns of Global and
the undersigned beneficial owner. This Agreement shall be governed in all
respects by the laws of the State of New York.

     IN WITNESS WHEREOF the undersigned, by authority duly given, has caused
this Notice and Questionnaire to be executed and delivered either in person or
by its duly authorized agent.

                               Name of Beneficial Owner:

                               -------------------------------------------------
                                                 (Please Print)

                               Signature:
                                          --------------------------------------

                               Date:
                                     -------------------------------------------

                                      A-7

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