Document:

<PAGE>   1
                                                                EXHIBIT 10.18(c)

                     CONSENT, WAIVER AND THIRD AMENDMENT TO
                      AMENDED AND RESTATED CREDIT AGREEMENT

         THIS CONSENT, WAIVER AND THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT
AGREEMENT (the "Amendment"), dated as of July 31, 2000, is among SOFTWARE
SPECTRUM, INC., a corporation duly organized and validly existing under the laws
of the State of Texas (the "Borrower"), each of the banks or other lending
institutions which is a signatory hereto (individually, a "Bank" and,
collectively, the "Banks"), THE CHASE MANHATTAN BANK, individually as a Bank and
as administrative agent for itself and the other Banks (in its capacity as
administrative agent, together with its successors in such capacity
"Administrative Agent") and CHASE BANK OF TEXAS, NATIONAL ASSOCIATION (formerly
known as Texas Commerce Bank National Association), individually as a Bank and
as collateral agent for itself and the other Banks (in its capacity as
collateral agent, together with its successors in such capacity, the "Collateral
Agent").

                                    RECITALS:

         The Borrower, the Banks, the Administrative Agent and the Collateral
Agent have entered into that certain Amended and Restated Credit Agreement dated
as of March 11, 1998 (as amended by that certain First Amendment to Amended and
Restated Credit Agreement dated as of August 15, 1998, and that certain Second
Amendment to Amended and Restated Credit Agreement dated as of June 23, 1999,
the "Agreement").

         The Borrower has informed the Administrative Agent and the Banks that
it intends to sell in two or more unrelated transactions (i) the assets of its
Customer Relationship Management Business, which is operated through Borrower's
wholly owned subsidiary, Software Spectrum CRM, Inc., and which had a book value
of approximately $3,000,000 as of April 30, 2000; and (ii) substantially all of
the assets relating to its "Professional Services" business, a division of
Spectrum Integrated Services, Inc. (the "Business"), which assets had a book
value as of April 30, 2000, of approximately $12,037,000 and which business
operated out of 16 locations prior to the discontinuation of operations at 10
locations as of May 31, 2000 (the transactions referred to in clauses (i) and
(ii) above being collectively referred to herein as the "Asset Sales"). The
Borrower has requested that the Administrative Agent, the Collateral Agent and
the Banks consent to the Borrower's departure from the covenant contained in
Section 9.8 of the Agreement (the "Applicable Covenant") which restricts the
Borrower's ability to sell its assets.

         In accordance with the terms and conditions of this Amendment,
Administrative Agent, Collateral Agent and the Banks consent to Borrower's
departure from the Applicable Covenant in order to allow the Asset Sales to
occur.

         Borrower has advised the Agent and the Banks that Events of Default
have occurred under subsection 11.1(c) of the Agreement as a result of the
Borrower's failure to comply with the covenants set forth in Section 10.4 of the
Agreement as of and for the Fiscal Quarter ending

CONSENT, WAIVER AND THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
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<PAGE>   2

April 30, 2000, and as of and for the two consecutive Fiscal Quarters ending
April 30, 2000 (collectively, the "Existing Defaults" and the covenants
described above, herein the "Violated Covenants"). Borrower has also advised the
Agent and the Banks that it projects an Event of Default to occur under
subsection 11.1(c) of the Agreement as a result of the Borrower's failure to
comply with the covenants set forth in Section 10.4 of the Agreement as of and
for the two consecutive Fiscal Quarters ending July 31, 2000 (the "Projected
Default").

         The Borrower has requested that the Administrative Agent, Collateral
Agent and Banks waive the Existing Defaults and the Projected Default.

         In accordance with the terms and conditions of this Amendment, each of
the Administrative Agent, Collateral Agent and the Banks waive the Existing
Defaults and the Projected Default.

         The Borrower, the Banks, the Administrative Agent and the Collateral
Agent also desire to amend the Agreement as herein set forth.

         NOW, THEREFORE, in consideration of the premises herein contained and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:

                                   ARTICLE 1

                                   Definitions

         Section 1.1 Definitions. Capitalized terms used in this Amendment, to
the extent not otherwise defined herein, shall have the same meanings as in the
Agreement, as amended hereby.

                                   ARTICLE 2

                                     Consent

         Section 2.1 Consent. Administrative Agent, Collateral Agent and the
Banks hereby consent to Borrower's departure from the Applicable Covenant in
order to allow the Asset Sales to occur and agree that such departure will not
result in a Default under the Agreement.

         Section 2.2 Limitation of Consent. The consent set forth in Section 2.1
shall not be deemed a consent to the departure from or waiver of (a) the
Applicable Covenant for any purpose other than to permit the Asset Sales or (b)
any other covenants or condition in any Loan Document or (c) any Event of
Default that otherwise may arise as a result of the Asset Sales. The failure to
comply with the Applicable Covenant for any other sale of assets shall
constitute an Event of Default. Any computation of asset sales in order to
determine the Borrower's compliance with clause (e) in Section 9.8 of the
Agreement shall not include the assets sold in the Asset Sales.

CONSENT, WAIVER AND THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
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<PAGE>   3

                                   ARTICLE 3

                                     Waiver

         Section 3.1 Waiver. Administrative Agent, Collateral Agent and the
Banks hereby waive the Existing Defaults and the Projected Default and agree not
to exercise any rights or remedies available as a result of the occurrence
thereof.

         Section 3.2 Limitation of Waiver. The waiver specifically described in
Section 3.1 shall not constitute and shall not be deemed a waiver of any other
Default, whether arising as a result of the further violation the Violated
Covenants or otherwise, or a waiver of any rights or remedies arising as a
result of such other Defaults. The failure to comply with the Violated Covenants
for any date, or any period ending on any date, for reasons other than those
described in the definitions of "Existing Defaults" and "Projected Default"
shall constitute an Event of Default.

                                   ARTICLE 4

                                   Amendments

         Section 4.1 Amendment to Section 10.1. Effective as of April 30, 2000,
Section 10.1 of the Agreement is amended in its entirety to read as follows:

                  Section 10.1 Consolidated Net Worth. The Borrower will at all
         times maintain the sum of (a) all amounts which, in conformity with
         GAAP, would be included as stockholders' equity on a consolidated
         balance sheet of the Borrower ad the Subsidiaries; minus (b) the amount
         at which shares of capital stock of the Borrower is contained among the
         assets on the balance sheet of the Borrower and the Subsidiaries; minus
         (c) the aggregate amount of net income (or plus net loss, as
         applicable) accruing from May 1, 1999, through October 31, 2000,
         attributable to operations of the Business (including any gain or loss
         incurred as a result of the Asset Sales, such terms "Business" and
         "Asset Sales" each as defined in the Consent, Waiver and Third
         Amendment to Amended and Restated Credit Agreement dated July 31, 2000,
         among the parties to this Agreement [the "Third Amendment"]), to be an
         amount not less than Seventy-Four Million Dollars ($74,000,000).

         Section 4.2 Amendment to Section 10.2. Effective as of April 30, 2000,
the definition of "EBITDA" in Section 10.2 of the Agreement is amended and
restated to read as follows:

                  "EBITDA" means, for any period and any Person, the total of
         the following each calculated without duplication on a consolidated
         basis for such

CONSENT, WAIVER AND THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
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<PAGE>   4

         period: (a) Net Income; plus (b) any provision for (or less any benefit
         from) income or franchise taxes included in determining Net Income;
         plus (c) Interest Expense deducted in determining Net Income; plus (d)
         amortization and depreciation expense deducted in determining Net
         Income; and, for the purpose of calculating compliance with the
         covenant in Section 10.2 in any calculation of EBITDA that includes the
         Borrower's consolidated performance for the Fiscal Quarter ended April
         30, 2000, minus (e) the aggregate amount of all income (or plus the
         aggregate amount of all expenses, as applicable) included in the
         calculations of the amounts in clauses (a) through (d) above accruing
         for such Fiscal Quarter and attributable to operations of the Business
         (including any income or expense accrued as a result of the Asset
         Sales, such terms "Business" and "Asset Sales" each as defined in the
         Third Amendment).

         Section 4.3 Amendment to Exhibit "D". Effective as of April 30, 2000,
"Exhibit D" to the Agreement is amended and restated in its entirety as set
forth on Exhibit "D" to this Amendment.

                                   ARTICLE 5

         Section 5.1 Conditions. The effectiveness of this Amendment is subject
to the satisfaction of the following conditions precedent:

                  (a) Administrative Agent shall have received all of the
         following, each dated (unless otherwise indicated) the date of this
         Amendment, in form and substance satisfactory to the Administrative
         Agent.

                           (i) Resolutions. Resolutions of the Board of
                  Directors (or other similar authorizing documents) of the
                  Borrower certified by its Secretary, an Assistant Secretary,
                  or another authorized Person that authorize its execution,
                  delivery, and performance of this Amendment and the Loan
                  Documents to which it is or is to be a party hereunder.

                           (ii) Amendment Fee. The fees payable under that
                  certain letter from Administrative Agent to the Borrower dated
                  July 31, 2000.

                           (iii) Additional Information. Administrative Agent
                  shall have received such additional documentation and
                  information as Administrative Agent may request; and

                  (b) After giving effect to this Amendment, the representations
         and warranties contained herein and in all other Loan Documents, as
         amended hereby, shall be true and correct in all material respects as
         of the date hereof as if made on the date hereof, except for such
         representations and warranties limited by their terms to a specific
         date;

CONSENT, WAIVER AND THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
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<PAGE>   5

                  (c) After giving effect to this Amendment, no Default shall
         have occurred and be continuing; and

                  (d) All proceedings taken in connection with this Amendment
         and all documentation and other legal matters incident thereto shall be
         satisfactory to Administrative Agent.

                                   ARTICLE 6

                                  Miscellaneous

         Section 6.1 Release of Collateral. Each of the Banks hereby consents to
Collateral Agent's executing, on behalf of each Bank, such agreements,
certificates and other documents necessary to release (or evidence or give
notice of the release of) the Collateral Agent's Liens on any Collateral sold as
part of the Asset Sales.

         Section 6.2 Ratifications. The terms and provisions set forth in this
Amendment shall modify and supersede all inconsistent terms and provisions set
forth in the Agreement and except as expressly modified and superseded by this
Amendment, the terms and provisions of the Agreement and the other Loan
Documents are ratified and confirmed and shall continue in full force and
effect. Borrower, the Banks and the Agents agree that the Agreement as amended
hereby and the other Loan Documents shall continue to be legal, valid, binding
and enforceable in accordance with their respective terms.

         Section 6.3 Representations and Warranties. Borrower hereby represents
and warrants to Administrative Agent and the Banks as follows: (a) after giving
effect to this Amendment, no Default has occurred and is continuing; (b) after
giving effect to this Amendment, the representations and warranties set forth in
the Loan Documents are true and correct in all material respects on and as of
the date hereof with the same effect as though made on and as of such date
except with respect to any representations and warranties limited by their terms
to a specific date; (c) the execution, delivery and performance of this
Amendment has been duly authorized by all necessary action on the part of
Borrower and each Obligated Party and does not and will not: (1) violate any
provision of law applicable to Borrower or any Obligated Party, the certificate
of incorporation, bylaws, partnership agreement, membership agreement, or other
applicable governing document of Borrower or any Obligated Party or any order,
judgment, or decree of any court or agency of government binding upon Borrower
or any Obligated Party; (2) conflict with, result in a breach of or constitute
(with due notice or lapse of time or both) a default under any material
contractual obligation of Borrower or any Obligated Party; (3) result in or
require the creation or imposition of any material lien upon any of the assets
of Borrower or any Obligated Party; or (4) require any approval or consent of
any Person under any material contractual obligation of Borrower or any
Obligated Party; and (d) except as previously disclosed to Administrative Agent,
the articles of incorporation, bylaws, partnership agreement, certificate of
limited partnership, membership agreement, articles of organization or other

CONSENT, WAIVER AND THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
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<PAGE>   6

applicable governing document of the Borrower and each Obligated Party,
resolutions of the Borrower attached as Exhibit B to its Secretary's Certificate
dated as of March 6, 1998, and resolutions of Spectrum Integrated Services, Inc.
attached as Exhibit B to its Secretary's Certificate dated as of March 6, 1998,
have not been modified or rescinded since March 6, 1998, and remain in full
force and effect, and the officers identified in each such Secretary's
Certificate continue to hold the offices set forth in such certificate.

         IN ADDITION, TO INDUCE THE ADMINISTRATIVE AGENT AND THE BANKS TO AGREE
TO THE TERMS OF THIS AMENDMENT, BORROWER AND EACH OBLIGATED PARTY (BY ITS
EXECUTION BELOW) REPRESENT AND WARRANT THAT AS OF THE DATE OF ITS EXECUTION OF
THIS AMENDMENT THERE ARE NO CLAIMS OR OFFSETS AGAINST OR DEFENSES OR
COUNTERCLAIMS TO ITS OBLIGATIONS UNDER THE LOAN DOCUMENTS AND IN ACCORDANCE
THEREWITH IT WAIVES ANY AND ALL SUCH CLAIMS, OFFSETS, DEFENSES OR COUNTERCLAIMS,
WHETHER KNOWN OR UNKNOWN, ARISING PRIOR TO THE DATE OF ITS EXECUTION OF THIS
AMENDMENT.

         Section 6.4 Reference to Agreement. Each of the Loan Documents,
including the Agreement and any and all other agreements, documents, or
instruments now or hereafter executed and delivered pursuant to the terms hereof
or pursuant to the terms of the Agreement as amended hereby, are hereby amended
so that any reference in such Loan Documents to the Agreement shall mean a
reference to the Agreement as amended hereby.

         Section 6.5 Expenses of Agents. As provided in the Agreement, Borrower
agrees to pay on demand all costs and expenses incurred by Administrative Agent
or Collateral Agent in connection with the preparation, negotiation, and
execution of this Amendment and the other Loan Documents executed pursuant
hereto, including without limitation, the costs and fees of Administrative
Agent's legal counsel.

         Section 6.6 Severability. Any provision of this Amendment held by a
court of competent jurisdiction to be invalid or unenforceable shall not impair
or invalidate the remainder of this Amendment and the effect thereof shall be
confined to the provision so held to be invalid or unenforceable.

         Section 6.7 Applicable Law. This Amendment shall be governed by and
construed in accordance with the laws of the State of Texas and the applicable
laws of the United States of America.

         Section 6.8 Successors and Assigns. This Amendment is binding upon and
shall inure to the benefit of the Banks, the Agents and Borrower and their
respective successors and assigns, except Borrower may not assign or transfer
any of its rights or obligations hereunder without the prior written consent of
the Banks.

CONSENT, WAIVER AND THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
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<PAGE>   7

         Section 6.9 Counterparts. This Amendment may be executed in one or more
counterparts, each of which when so executed shall be deemed to be an original,
but all of which when taken together shall constitute one and the same
agreement.

         Section 6.10 Headings. The headings, captions, and arrangements used in
this Amendment are for convenience only and shall not affect the interpretation
of this Amendment.

         Section 6.11 ENTIRE AGREEMENT. THIS AMENDMENT EMBODIES THE FINAL,
ENTIRE AGREEMENT AMONG THE PARTIES HERETO AND SUPERSEDE ANY AND ALL PRIOR
COMMITMENTS, AGREEMENTS, REPRESENTATIONS AND UNDERSTANDINGS, WHETHER WRITTEN OR
ORAL, RELATING TO THIS AMENDMENT, AND MAY NOT BE CONTRADICTED OR VARIED BY
EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS
OF THE PARTIES HERETO. THERE ARE NO ORAL AGREEMENTS AMONG THE PARTIES HERETO.

         Executed as of the date first written above.

                                   BORROWER:

                                   SOFTWARE SPECTRUM, INC.

                                   By: /s/ Keith R. Coogan
                                       ------------------------------------
                                       Keith R. Coogan
                                       President & Chief Operating Officer

                                   ADMINISTRATIVE AGENT:

                                   THE CHASE MANHATTAN BANK, individually
                                   as a Bank and as the Administrative Agent

                                   By: /s/ Jim L. Holloway
                                       ------------------------------------
                                       Jim L. Holloway
                                       Senior Vice President

CONSENT, WAIVER AND THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
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<PAGE>   8

                                   COLLATERAL AGENT:

                                   CHASE BANK OF TEXAS,
                                   NATIONAL ASSOCIATION
                                   (formerly known as Texas
                                   Commerce Bank National
                                   Association), individually
                                   as a Bank and as the
                                   Collateral Agent

                                   By: /s/ Chris D. Capriotti
                                       ------------------------------------
                                       Name:    Chris D. Capriotti
                                       Title VP

                                   OTHER BANKS:

                                   NATIONAL CITY BANK, KENTUCKY

                                   By: /s/ Kevin L. Anderson
                                       ------------------------------------
                                   Name:  Kevin L. Anderson
                                   Title:  Vice President

                                   PNC BANK, NATIONAL ASSOCIATION

                                   By: /s/ James M. Steffig
                                       ------------------------------------
                                   Name:  James M.  Steffig
                                   Title:  Vice President

                                   FOOTHILL CAPITAL CORPORATION

                                   By: /s/ Michael P. Baranowski
                                       ------------------------------------
                                   Name:  Michael P. Baranowski
                                   Title:  Vice President

CONSENT, WAIVER AND THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
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<PAGE>   9

                                 ACKNOWLEDGMENT

         The undersigned hereby consents and agrees to this Amendment, and
hereby ratifies and confirms each of the Loan Documents to which it is a party
and agrees that such Loan Documents continue to be legal, valid, binding and
enforceable in accordance with their respective terms.

         Witness due execution hereof by the undersigned as of the date first
written above.

                                      SPECTRUM INTEGRATED SERVICES, INC.

                                       By: /s/ Keith R. Coogan
                                           ----------------------------------
                                           Keith R. Coogan,  President,
                                           Executive Vice President and
                                           Assistant Secretary

CONSENT, WAIVER AND THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
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<PAGE>   10

                                   EXHIBIT "D"
                                       to
                             SOFTWARE SPECTRUM, INC.
                     CONSENT, WAIVER AND THIRD AMENDMENT TO
                      AMENDED AND RESTATED CREDIT AGREEMENT

                             Compliance Certificate

<PAGE>   11

                             COMPLIANCE CERTIFICATE
                                     for the
                        quarter ending ________ __, ____

To:      The Chase Manhattan Bank,
         as administrative agent
         600 Fifth Avenue, 4th Floor
         New York, New York 10020

         and each Bank

Ladies and Gentlemen:

         This Compliance Certificate (the "Certificate") is being delivered
pursuant to Section 8.1(c) of that certain Amended and Restated Credit Agreement
(as amended, the "Agreement") dated as of March 11, 1998 among SOFTWARE
SPECTRUM, INC. (the "Borrower"), THE CHASE MANHATTAN BANK, as administrative
agent, CHASE BANK OF TEXAS, NATIONAL ASSOCIATION, as collateral agent and the
Banks named therein. All capitalized terms, unless otherwise defined herein,
shall have the same meanings as in the Agreement. All the calculations set forth
below shall be made pursuant to the terms of the Agreement.

         The undersigned, an authorized financial officer of the Borrower, does
hereby certify to the Agent and the Banks that:

1.       DEFAULT.

         No Default has occurred and is continuing or if a Default has occurred
         and is continuing, I have described on the attached Exhibit "A" the
         nature thereof and the steps taken or proposed to remedy such Default.

<TABLE>
<CAPTION>
                                                                                                         Compliance
                                                                                                         ----------
<S>                                                                                               <C>        <C><C>
2.      SECTION 8.1 - FINANCIAL STATEMENTS AND RECORDS

        (a)  Annual audited financial statements of Borrower on or before                          Yes       No  N/A
             91 days after the end of each Fiscal Year.

        (b)  Quarterly unaudited financial statements of Borrower on a                             Yes       No N/A
             consolidated and consolidating basis within 46 days of each
             Fiscal Quarter end.

        (c)  Borrowing Base Report together with the Receivables Reports                           Yes       No N/A
             within 20 days of each month end or within 20 days of any other
             date required by the Administrative Agent.
</TABLE>

EXHIBIT "D" - Compliance Certificate - Page 1

<PAGE>   12
<TABLE>
<S>                                                                                <C>             <C>       <C> <C>
        (d)  If Daily Collection Event occurs, Receivable Reports                                  Yes       No  N/A

             (i)  weekly or
             (ii) daily

        (e)  Projections within 30 days before the start of each Fiscal                            Yes       No  N/A
             Year.

3.      SECTION 8.10 - COLLATERAL MATTERS

        (a)  Aggregate book value of inventory held by third                       $__________
             parties                                                               $ 2,500,000
        (b)  Limit                                                                                 Yes       No
        (c)  Collateral perfection/protection required                                             Yes       No
        (d)  Material Subsidiary created or acquired?                                              Yes       No
        (e)  If line (d) is yes, have 8.10(b) and (c) collateral measures
             been taken?

4.      SECTION 9.1  - DEBT

        No Additional Debt except:

        (a)  Purchase money not to exceed:                                         $ 5,000,000
             Actual Outstanding:                                                   $__________     Yes       No
        (b)  Guaranties of surety and other bonds not to                           $ 4,000,000
             exceed:                                                               $__________     Yes       No
             Actual Outstanding:
        (c)  Outstanding Guaranties of permitted Debt of                           $__________     Yes       No
             Foreign Subs and Foreign Ventures
        (d)  Outstanding Loans, advances, other extensions of
             credit, investments and contributions to Foreign
             Subs (excluding Software Spectrum Canada in an
             amount up to the gross Dollar amount of                               $__________     Yes       No
             receivables of Software Spectrum Canada) and                          $__________
             Foreign Ventures                                                                      Yes       No
        (e)  Total Foreign Subsidiary Obligations (line 4(c)
             plus 4(d))                                                            $__________
        (f)  Foreign Subsidiary Limit                                                              Yes       No
             (i)  $30,000,000 plus                                                 $10,000,000
             (ii) if 9.1(e)(ii) test satisfied $10,000,000                         $__________     Yes       No
        (g)  Acquisition Debt incurred in any Fiscal Year not
             to exceed                                                             $20,000,000
             Actual incurred in current Fiscal Year                                $__________     Yes       No
             (note:  Incurrence Test must also be met)
        (h)  Unsecured Vendor Debt not to exceed                                   $ 5,000,000
             Actual Outstanding                                                    $__________     Yes       No
</TABLE>

EXHIBIT "D" - Compliance Certificate - Page 2

<PAGE>   13

<TABLE>
<S>                                                                          <C>                  <C>         <C>    <C>
             (note:  Incurrence Test must also be met)
        (i)  Unsecured Short Term Bank Debt not to exceed
             Actual Outstanding

5.      SECTION 9.3 - MERGERS, ETC.

        (a)  Has acquisition been consummated since last Compliance                                Yes               No
             Certificate?
        (b)  If line (a) yes, Purchase Price                                       $__________
        (c)  Aggregate Purchase Prices from prior acquisitions
             under 9.3 in current Fiscal Year                                      $__________
        (d)  Purchase Price Limit per transaction                                  $ 5,000,000     Yes        No     N/A
        (e)  Aggregate Purchase Price Limit per Fiscal Year                        $10,000,000     Yes        No     N/A
        (f)  Were the conditions in clauses (a) through (e) of
             Section 9.3(iv) satisfied with respect to each                                        Yes        No     N/A
             acquisition ?

6.      SECTION 9.4 - DIVIDENDS

        (a)  Stock repurchases pursuant to stock repurchase
             program in existence at closing date not to exceed
             (note: no further stock repurchases permitted
             under this clause (a) after 1/31/99)                                  $ 1,750,000
             Actual such repurchases since Closing Date:                           $__________     Yes        No     N/A
        (b)  Stock repurchases pursuant to 7/98 stock
             repurchase program not to exceed (note: no
             further stock repurchases permitted under this
             clause (b) after _______________)
             Actual such repurchases since 8/31/98 (excluding                      $__________     Yes        No
             those included in clause (a))                                         $__________
        (c)  Stock repurchases for applicable period not to                        $__________     Yes        No
             exceed:
             Actual repurchases during the applicable period:
        (d)  Attach as schedule evidence of compliance with
             Section 9.4(iii) with respect to dividends and other
             stock repurchases                                                                     Yes        No     N/A

7.      SECTION 9.8 - DISPOSITION ASSETS

        (a)  Book Value of asset disposed of in sale leaseback
             transaction within the last 12 months                                 $__________
             Actual not to exceed:                                                 $   500,000     Yes        No     N/A
        (b)  Book value of assets disposed of within the last 12                   $__________
             months                                                                $   500,000     Yes        No     N/A
             Actual not to exceed:
</TABLE>

EXHIBIT "D" - Compliance Certificate - Page 3

<PAGE>   14
<TABLE>
<S>                                                                           <C>                 <C>        <C>    <C>
8.      SECTION 9.10 - PREPAYMENT OF DEBT

        No prepayment of Debt except:

        (a)  Obligations
        (b)  Foreign Sub Debt Guaranteed
        (c)  Prepayment of other Debt limited in any Fiscal Year to:          $    500,000
        (d)  Aggregate amount of other Debt so prepaid in
             current Fiscal Year                                              $___________        Yes        No     N/A

9.      SECTION 10.1 - CONSOLIDATED NET WORTH

        (a)  Required Consolidated Net Worth                                  $ 74,000,000
        (b)  Actual Consolidated Net Worth
             (i)   shareholders equity                                        $___________
             (ii)  minus treasury stock                                       $___________
             (iii) minus the gains (or plus losses, as applicable)
                   accruing between May 1, 1999, and October
                   31, 2000, attributable to operations of the
                   Business (including any gain or loss on the
                   Asset Sales)                                               $___________
             (iv)  Actual Consolidated Net Worth                              $___________        Yes        No     N/A

10.     SECTION 10.2 - INTEREST COVERAGE

        (a)  Net Income for applicable period                                 $___________
        (b)  Plus net provisions for tax                                      $___________
        (c)  Plus Interest Expense                                            $___________
        (d)  Plus amortization and depreciation                               $___________
        (e)  Minus, if applicable, gains (or plus losses) from
             Business or Assets Sales during Fiscal Quarter
             ended 4-30-00                                                    $___________
        (f)  Borrower EBITDA: 10(a) plus 10(b), 10(c) and
             10(d), minus (or plus) 10(e)                                     $___________
        (g)  Unfinanced Capital Expenditures                                  $___________        Yes               No
        (h)  (line 10(f) minus line 10(g))                                    $___________
        (i)  Interest Expense                                                 $___________
        (j)  Interest Coverage (line 10(h) divided by line 10(i)                  ___:1.00
        (k)  Minimum Interest Coverage                                            ___:1.00

11.     SECTION 10.3 - CAPITAL EXPENDITURE LIMITS

        (a)  Capital Expenditure limit for the period                         $___________
        (b)  Actual Capital Expenditures                                      $___________        Yes               No

12.     SECTION 10.4 - NET INCOME
</TABLE>

EXHIBIT "D" - Compliance Certificate - Page 4

<PAGE>   15

<TABLE>
<S>                                                                           <C>                 <C>        <C>
        (a)  Net Income (most recent Fiscal Quarter)                          $___________
        (b)  less than -$2,500,000?                                                               Yes        No
        (c)  Net Income (previous Fiscal Quarter)                             $___________
        (d)  12(a) plus 12(c) less than $3,000,000?                                               Yes        No

13.     DETERMINATION OF MARGIN AND FEES

        (a)  Borrower EBITDA: From 10(f)                                      $___________
        (b)  All Capital Expenditures (financed and
             unfinanced)                                                      $___________
        (c)  Actual technical support contract Capital
             Expenditures not to exceed $1,500,000 incurred in
             the period through the Fiscal Quarter ending
             January 31, 1999                                                 $___________
        (d)  (line 13(a) minus the positive sum of (i) line 13(b)
                          minus (ii), if calculated for a period              $___________
                          prior to February 1, 1999, line 13(c))                  ___:1.00
        (e)  Interest Expense                                                                     Yes        No
        (f)  Interest Coverage Ratio (line 13(d) divided by line
             13(e))
        (g)  Adjustment to margin and fees required by                            _______%
             Section 3.2?                                                         _______%
        (h)  If adjustment required, set forth below new                          _______%
             margins and fees in accordance with Section 3.2:
             (i)   Base Margin
             (ii)  Libor Rate Margin and LC Fee
             (iii) Commitment Fee
</TABLE>

14.     ATTACHED SCHEDULES

        Attached hereto as schedules are the calculations supporting the
        computation set forth above in this Certificate. All information
        contained herein and on the attached schedules is true and correct.

15.     FINANCIAL STATEMENTS

        The unaudited financial statements attached hereto were prepared in
        accordance with GAAP but presented in accordance with the interim
        reporting rules and regulations of the Securities and Exchange
        Commission and fairly present (subject to year end audit adjustments)
        the financial conditions and the results of the operations of the
        Persons reflected thereon, at the date and for the periods indicated
        therein.

         IN WITNESS WHEREOF, the undersigned has executed this Certificate
effective this _______ day of ____________, _______.

EXHIBIT "D" - Compliance Certificate - Page 5

<PAGE>   16

                                     SOFTWARE SPECTRUM, INC.

                                     By:
                                          ----------------------------
                                     Name:
                                           ---------------------------
                                     Title:
                                            --------------------------

EXHIBIT "D" - Compliance Certificate - Page 6<PAGE>   1
                                                                    EXHIBIT 10.1

                           INDEMNITY ESCROW AGREEMENT

         THIS INDEMNITY ESCROW AGREEMENT (the "Agreement") made and entered into
as of the 20th day of July, 2000, by and among 3dfx Interactive, Inc., a
California corporation ("3dfx"), GigaPixel Corporation, a Delaware corporation
("GigaPixel"), on behalf of its holders of its Common Stock and Preferred Stock
and of the Warrant prior to the Effective Time of the Merger (the
"Securityholders"), Galapagos Acquisition Corp., a Delaware corporation
("Newco"), the Securityholder Representative named in Section 9 hereof, and U.S.
Trust Company, N.A., as escrow agent (the "Agent").

                                   WITNESSETH:

         WHEREAS, pursuant to the Agreement and Plan of Reorganization dated as
of March 27, 2000 (the "Acquisition Agreement"), by and among 3dfx, Newco and
GigaPixel, each of the parties has agreed to effect the Merger;

         WHEREAS, the Acquisition Agreement provides, as a condition to the
closing of the Merger, that the parties execute and deliver this Agreement
whereby a certain portion of the consideration to be payable to the
Securityholders following the Merger would be placed in escrow for a period of
time.

         NOW, THEREFORE, for and in consideration of the mutual representations,
warranties, covenants and agreements, and upon the terms, and subject to the
conditions hereinafter set forth, the parties hereto do agree as follows:

     1. Definitions. Unless otherwise defined herein, capitalized terms used
herein shall have the meaning ascribed to them in the Acquisition Agreement.

     2. Appointment of Agent. 3dfx, Newco, GigaPixel and the Securityholder
Representative hereby appoint Agent as escrow agent in accordance with the terms
and conditions set forth herein, and the Agent hereby accepts such appointment.

     3. Deposit of Shares of 3dfx Common Stock.

         (a) At the Closing, 3dfx and Newco shall, in accordance with Section
     3.1 of the Acquisition Agreement, deposit with the Agent certificates for
     the number of shares of 3dfx Common Stock described on Exhibit A hereto,
     with the Agent's interest as escrow agent set forth on the face thereon
     (the "Escrowed Shares"), which Escrow Shares shall be held by the Agent in
     accordance with Section 4 below.

         (b) All taxable dividends with respect to the Escrowed Shares shall be
     distributed currently to the Securityholders.

         (c) Voting of Escrowed Shares. Until such time as 3dfx shall have
     delivered a notice to the Agent as described in the first sentence of
     Section 4(a) of this Agreement, the Securityholder Representative shall
     have the right to direct the Agent as to the manner of voting of the
     Escrowed Shares. Such Securityholder Representative shall use its
     reasonable best efforts to vote the Escrowed Shares in accordance with the
     directions of the beneficial holders thereof.

     4. Disposition of Escrowed Shares.

         (a) If the Agent shall receive a written notice from 3dfx at any time
     from the date of this Agreement through the date that is three hundred
     eighty (380) days from the Closing Date certifying (i) that during the one
     (1) year period following the Closing Date 3dfx has suffered 3dfx Losses as
     a result of the Company's breach of any of its representations and
     warranties or its failure to perform any of its covenants, in each case as
     set forth in the Acquisition Agreement, and that, as a result, 3dfx is
     entitled to payment hereunder pursuant to Article X of the

<PAGE>   2

     Acquisition Agreement, (ii) the total amount that 3dfx is entitled to be
     paid from the Escrowed Shares and the basis of calculation of such amount
     (a "Claim") with respect to such 3dfx Losses, (iii) a description of the
     asserted Claim and the basis thereof, and (iv) that 3dfx has delivered a
     copy of such notice to the Securityholder Representative (as defined and
     described in Section 9 hereof) with respect to such Claim, then the Agent
     shall promptly (and in any event within ten (10) days following receipt of
     such notice from 3dfx) deliver a copy of such notice to the Securityholder
     Representative. If the Agent does not, within twenty (20) days after its
     delivery of such notice, receive a written objection from the
     Securityholder Representative with respect to such Claim, then the Agent
     shall promptly deliver to 3dfx a number of Escrowed Shares, the value of
     which (based on the closing price of such Escrowed Shares on the Closing
     Date) equals the amount that 3dfx shall have specified as its Claim. If the
     Agent shall receive a written objection from the Securityholder
     Representative within such twenty (20) day period, then a conflict shall be
     deemed to have arisen, and the Agent shall, within five (5) days of the
     Agent's receipt of the written objection from the Securityholder
     Representative, deliver notice of such conflict to the parties hereunder.
     Thereafter, the Agent shall be entitled to refrain from taking any action
     until the Agent shall be directed otherwise in accordance with Section 4(b)
     below.

         (b) If a conflict shall have arisen as described in Section 4(a) above,
     then upon receipt by the Agent during the term of this Agreement of (i)
     joint written instructions signed by 3dfx and the Securityholder
     Representative directing payment of all or a portion of the Escrowed
     Shares, or (ii) a final, non-appealable judgment or order of a court of
     competent jurisdiction directing the payment of an amount of the Escrowed
     Shares held hereunder, the Agent shall promptly deliver to the person or
     persons specified, out of the escrow created hereunder and in the manner
     specified in the applicable instructions, judgment or order, or as
     otherwise agreed in writing by 3dfx and the Securityholder Representative,
     (A) the number of Escrowed Shares specified therein, or (B) a number of
     Escrowed Shares the value of which (based on the closing price of such
     Escrowed Shares on the Closing Date) equals the amount specified in such
     instructions, judgment or order, and the Agent shall thereupon be relieved
     and discharged from any responsibility or obligation with respect to such
     amount or amounts of the Escrowed Shares delivered in accordance with this
     Agreement.

         (c) Unless otherwise notified by a joint instruction signed by 3dfx and
     the Securityholder Representative, in the event the escrow created
     hereunder is not sooner terminated pursuant to the provisions of Section
     4(e) below or extended pursuant to the provisions of this Section 4(c), the
     escrow period and the escrow created hereunder shall terminate at the close
     of business on the date that is three hundred eighty (380) days from the
     Closing Date (the "Escrow Period"). Upon such termination, the Agent shall
     release and deliver to the Securityholders the Escrowed Shares remaining in
     escrow; provided, however, if 3dfx has filed a Claim with the Agent and the
     Securityholder Representative for a 3dfx Loss suffered during the one (1)
     year period following the Closing Date prior to such termination, which
     Claim has not been resolved in accordance with Section 4(a) or (b) above by
     the date of termination, the Agent shall release and pay to the
     Securityholders only the number of Escrowed Shares the value of which
     (based on the closing price of such Escrowed Shares on the Closing Date)
     exceeds the aggregate amount of the outstanding and unresolved Claim(s) of
     3dfx. Upon resolving all remaining Claims in accordance with this Section
     4, including any distributions to 3dfx (which may be after the period
     provided herein, in which case the Escrow Period shall be extended to such
     time in which all Claims are resolved), the Agent shall release and pay to
     the Securityholders all Escrowed Shares held in escrow hereunder and close
     the escrow, whereupon the Escrow Period and the escrow created hereunder
     shall be terminated.

         (d) Notwithstanding the provisions of Section 4(c) above, at the
     conclusion of the Escrow Period, if any Claim has not been resolved in
     accordance with the terms hereof, the Agent shall have the right, in its
     sole discretion, to deposit with the registry of any state or federal court
     located in San Jose, California, the number of Escrowed Shares the value of
     which (based on the closing price of such Escrowed Shares on the Closing
     Date) equals the aggregate amount of the outstanding and unresolved
     Claim(s) of 3dfx. The Agent shall implead 3dfx and the Securityholders in
     any action filed with such court.

         (e) Unless otherwise notified in a joint instruction signed by 3dfx and
     the Securityholder Representative, if the Agent disburses to 3dfx all
     Escrowed Shares held in escrow in accordance with the terms of this Section
     4 prior to the date that is the one (1) year anniversary of the Closing
     Date, then the Escrow Period and the escrow created hereunder shall
     immediately terminate, and the Agent shall close the escrow and give notice
     thereof to 3dfx and the Securityholder Representative.

                                      -2-
<PAGE>   3

     5. Duties and Obligations.

         (a) The Agent shall have no duty to enforce any obligation of any
     person to make any payment or delivery, or to direct or cause any payment
     or delivery to be made, or to enforce any obligation of any persons to
     perform any other act. The Agent shall not be liable to 3dfx or the
     Securityholder Representative or to anyone else by reason of any failure on
     the part of any party hereto or any other person to perform such party's or
     such person's obligations under any document or agreement.

         (b) The Agent shall not be liable to 3dfx and the Securityholder
     Representative or to anyone else for any action taken or omitted by it, or
     any action suffered by it to be taken or omitted, in good faith and in the
     exercise of its own best judgment. The Agent may rely conclusively and
     shall be protected in acting upon any order, notice, demand, certificate,
     opinion or advice of counsel (including counsel chosen by the Agent),
     statement, instrument, report or other paper or document (not only as to
     its due execution and the validity and effectiveness of its provisions, but
     also as to the truth and acceptability of any information therein
     contained) that is believed by the Agent to be genuine and to be signed or
     presented by the proper person or persons.

         (c) The Agent shall not be responsible for the sufficiency or accuracy
     of the form of, or the execution, validity, value or genuineness of, any
     document or property received, held or delivered by it hereunder, or of any
     signature or endorsement thereon, or for any lack of endorsement thereon,
     or for any description therein, nor shall the Agent be responsible or
     liable to 3dfx or the Securityholder Representative or to anyone else in
     any respect on account of the identity, authority, or rights of the persons
     executing or delivering or purporting to execute or deliver any document or
     property or this Agreement. The Agent shall not be liable to 3dfx or the
     Securityholder Representative or to anyone else for any loss that may be
     incurred by reason of any investment of any monies it holds hereunder.

         (d) To the extent that the Agent becomes liable for the payment of
     taxes, including withholding taxes, in respect of income derived from the
     investment of funds held hereunder or any payment made hereunder, the Agent
     may pay such taxes. The Agent may withhold from any payment of monies held
     by it hereunder such amount as the Agent estimates to be sufficient to
     provide for the payment of such taxes not yet paid, and may use the sum
     withheld for that purpose. The Agent shall be indemnified and held harmless
     from and against any liability for taxes and for any penalties or interest
     in respect of taxes on such investment income or payments in the manner
     provided in Section 5(e) below. At the signing of the agreement, each
     relevant party shall provide a W-8 or W-9 to the Escrow Agent.

         (e) The Agent shall be indemnified and held harmless jointly and
     severally by 3dfx and the Securityholder Representative from and against
     any and all expenses, including attorneys' fees and disbursements, or
     losses suffered by the Agent in connection with any action, suit or other
     proceeding involving any claim, or in connection with any claim or demand
     that directly or indirectly arises out of or otherwise relates to this
     Agreement, the services of the Agent hereunder, the monies or other
     property held by the Agent hereunder or any income earned from investment
     of such monies, other than expenses or losses arising as a result of the
     Agent's gross negligence or willful misconduct.

     6. Compensation and Reimbursement of Agent. The Agent shall be entitled to
compensation and reimbursement from GigaPixel after the Closing for all
reasonable expenses paid or incurred by it in the administration of its duties
hereunder, including, but not limited to, all reasonable attorneys' and agents'
fees and disbursements and all taxes or other governmental charges. The Escrow
Agent's first-year fee is due at the execution of this Agreement.

     7. Further Assurances. From time to time on and after the date hereof, 3dfx
and the Securityholder Representative shall deliver or cause to be delivered to
the Agent such further documents and instruments and shall do and cause to be
done such further acts as the Agent shall reasonably request to carry out more
effectively the provisions and purposes of this Agreement, to evidence
compliance herewith or to assure itself that it is protected in acting
hereunder.

                                      -3-
<PAGE>   4

     8. Termination of Agreement and Resignation of Agent.

         (a) This Agreement shall terminate upon the termination of the escrow
     created hereunder as provided in Section 4(c), provided that the rights of
     the Agent and the obligations of 3dfx, Newco and the Securityholders under
     Sections 5, 6 and 10 shall survive any termination hereof.

         (b) The Agent may resign and be discharged from its duties hereunder at
     any time by giving not less than 45 days prior written notice of such
     resignation to 3dfx and the Securityholder Representative, which notice
     shall specify the date when such resignation shall take effect. Upon such
     notice, 3dfx and the Securityholder Representative shall jointly appoint a
     successor escrow agent. If 3dfx and the Securityholder Representative do
     not agree upon a successor escrow agent within 45 days after such notice,
     The Chase Manhattan Bank shall be appointed successor. The agent shall
     continue to serve until its successor delivers to 3dfx and the
     Securityholder Representative a duly executed instrument of acceptance from
     such successor of the terms and conditions of this Agreement and other
     property held in escrow, at which time the agent shall have no further
     duties or responsibilities hereunder.

     9. Appointment and Acceptance of Securityholder Representative.

         (a) In order to facilitate the consummation of the transactions
     contemplated by this Agreement and by the Acquisition Agreement and the
     resolution of matters after the Closing, George T. Haber (the
     "Securityholder Representative") shall serve as the attorney-in-fact and
     agent for each of the Securityholders in his or her name, place and stead
     in connection with the transactions contemplated by this Agreement in
     accordance with the terms of this Agreement, such appointment being coupled
     with an interest and irrevocable. By executing and delivering this
     Agreement, the Securityholder Representative hereby accepts its
     authorization and appointment as the Securityholder Representative and as
     attorney-in-fact and agent on behalf of the Securityholders in accordance
     with the terms of this Agreement.

         (b) Upon approval of the Acquisition Agreement and the Merger by the
     Securityholders, each Securityholder shall be deemed to have expressly
     acknowledged and agreed that (i) the Securityholder Representative is
     authorized to act on his or her behalf notwithstanding any dispute or
     disagreement between or among the Securityholders and (ii) 3dfx and Newco
     and any other person shall be entitled to rely on any and all actions taken
     by the Securityholder Representative under or pursuant to this Agreement
     without liability to, or obligation to inquire of, any Securityholder.

         (c) The authority of the Securityholder Representative hereunder shall
     continue and be effective until all of the rights and obligations of the
     Securityholders hereunder, or any dispute arising hereunder, shall
     terminate.

     10. Consent to Service of Process. 3dfx and Newco and the Securityholder
Representative hereby irrevocably consent to the jurisdiction of the courts of
the State of California and of any federal court located in such state in
connection with any action, suit or other proceeding arising out of or relating
to this Agreement or any action taken or omitted hereunder, and each such party
waives personal service of any summons, complaint or other process and agrees
that the service thereof may be made by certified or registered mail directed to
such person at such person's address for purposes of notices hereunder.

     11. Notices. Any notice, request, instruction, document or other
communication to be given hereunder by any party hereto to any other party
hereto shall be in writing and validly given if (i) delivered personally, (ii)
sent by facsimile with electronic confirmation of receipt, (iii) delivered by
overnight express, or (iv) sent by registered or certified mail, postage
prepaid, as follows:

                                      -4-
<PAGE>   5
     (i)   If to 3dfx or Newco:

           3dfx Interactive, Inc.
           4435 Fortran Drive
           San Jose, California 95134
           Facsimile No.: (408) 262-5551
           Telephone No.: (408) 935-4400
           Attention:  President
           cc:     Legal Department

     (ii)  If to the Securityholder Representative:

           Mr. George T. Haber
           c/o 4435 Fortran Drive
           San Jose, California 95134
           Facsimile No.: (408) 262-5551
           Telephone No.: (408) 935-4400

     (iii) If to the Agent:

           U.S. Trust Company, N.A.
           One Embarcadero Center
           Suite 2050
           San Francisco, California 94111
           Facsimile No.: (415) 392-0876
           Telephone No.: (415) 743-9035
           Attn: Priscilla R. Dedoro, Assistant Vice President

     with copies to:

     Heller Ehrman White & McAuliffe LLP
     601 South Figueroa, 40th Floor
     Los Angeles, California 90017-5758
     Facsimile No.: (213) 614-1868
     Telephone No.: (213) 689-7539
     Attn: Stephen E. Newton, Esq.

or at such other address for a party as shall be specified by like notice. Any
notice that is delivered personally, or sent by telecopy or overnight express in
the manner provided herein shall be deemed to have been duly given to the party
to whom it is directed upon receipt by such party. Any notice that is addressed
and mailed in the manner herein provided shall be conclusively presumed to have
been given to the party to whom it is addressed at the close of business, local
time of the recipient, on the fifth day after the day it is so placed in the
mail.

     12. Entire Agreement. This Agreement constitutes the entire agreement and
supersedes all prior agreements and understandings, both written and oral,
between the parties hereto with respect to the subject matter hereof, and no
party shall be liable or bound to the other in any manner by any representations
or warranties not set forth herein.

     13. Successors and Assigns. This Agreement and the rights and obligations
hereunder may not be assigned, except that 3dfx may assign this Agreement and
its rights and obligations hereunder to any wholly-owned subsidiary of 3dfx or
to a successor to such party's entire business. This Agreement and the rights
and obligations hereunder of the Agent may be assigned by the Agent only to a
successor to its entire business. This Agreement shall be binding upon and inure
to the benefit of each party's respective successors, heirs and permitted
assigns. No other person shall acquire or have any rights under or by virtue of
this Agreement. This Agreement is intended to be for the sole benefit of the
parties hereto, and (subject to the provisions of this Section 13) their
respective successors, heirs and assigns, and none of the provisions of this
Agreement are intended to be, not shall they be construed to be, for the benefit
of any third person.

     14. Rules of Construction. This Agreement shall be construed without regard
to any presumption or other rule requiring construction against the party
causing such instrument to be drafted. The terms "hereby", "hereof", "hereunder"
and any similar terms, as used in this Agreement, refer to this Agreement in its
entirety and not only to the particular portion of this Agreement where the term
is used. The word "person" shall mean any natural person,

                                      -5-
<PAGE>   6

partnership, corporation, government and any other form of business or legal
entity. All words or terms used in this Agreement, regardless of the number or
gender in which they are used, shall be deemed to include any other number and
any other gender as the context may require.

     15. Headings. The headings of the sections of this Agreement are inserted
for convenience only and shall not be deemed to constitute part of this
Agreement or to affect the construction hereof.

     16. Modification and Waiver. Any of the terms or conditions of this
Agreement may be waived in writing at any time by the party that is entitled to
the benefits thereof, and this Agreement may be modified or amended by a written
instrument executed by all parties hereto. No supplement, modification, or
amendment of this Agreement shall be binding unless executed in writing by all
parties. No waiver of any of the provisions of this Agreement shall be deemed or
shall constitute a waiver of any other provision hereof (whether or not similar)
nor shall such waiver constitute a continuing waiver.

     17. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED, ENFORCED, AND
GOVERNED BY THE INTERNAL LAWS OF THE STATE OF CALIFORNIA (WITHOUT REGARD TO ITS
CHOICE OF LAW PRINCIPLES).

     18. Invalid Provisions. If any provision of this Agreement is held to be
illegal, invalid, or unenforceable under present or future laws, such provision
shall be fully severable, then this Agreement shall be construed and enforced as
if such illegal, invalid, or unenforceable provision had never comprised a part
of this Agreement, and the remaining provisions of this Agreement shall remain
in full force and effect and shall not be affected by the illegal, invalid, or
unenforceable provision or by its severance from this Agreement.

     19. Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall for all purposes be deemed to be an original
and all of which shall constitute the same instrument.

                                      -6-
<PAGE>   7

         IN WITNESS WHEREOF, the parties hereto have duly caused this Agreement
to be executed as of the day and year first above written.

                                  3DFX:

                                  3DFX INTERACTIVE, INC.

                                  By:  /s/ David Zacarias
                                       -----------------------------------------
                                  Printed Name:  David Zacarias
                                                 -------------------------------
                                  Title: Vice President, Administration and
                                         Chief Financial Officer
                                         ---------------------------------------

                                  NEWCO:

                                  GALAPAGOS ACQUISITION CORP.

                                  By:  /s/ David Zacarias
                                       -----------------------------------------
                                  Printed Name: David Zacarias
                                                --------------------------------
                                  Title: Vice President
                                         ---------------------------------------

                                  GIGAPIXEL:

                                  GIGAPIXEL CORPORATION

                                  By:  /s/ George T. Haber
                                       -----------------------------------------
                                  Printed Name: George T. Haber
                                                --------------------------------
                                  Title: Chief Executive Officer and President
                                         ---------------------------------------

                                  SECURITYHOLDER REPRESENTATIVE:

                                   /s/ George T. Haber
                                  ----------------------------------------------
                                  George T. Haber

                                  AGENT:

                                  U.S. TRUST COMPANY, N.A.

                                  By: /s/ Prisellia R. Dedoro
                                      -----------------------------------------
                                  Name: Prisellia R. Dedoro
                                        ----------------------------------------
                                  Title: Assistant Vice President
                                         ---------------------------------------

                                      -7-
<PAGE>   8

                                   EXHIBIT "A"

<TABLE>
<CAPTION>

                 SHAREHOLDERS:                        INDEMNITY ESCROW:
             -------------------------        ----------------------------------
             <S>                              <C>
              Shareholder A                                     shares
                                                         ------
              Shareholder B                                     shares
                                                         ------
              Shareholder C                                     shares
                                                         ------
              Shareholder D                                     shares
                                                         ======
</TABLE>

                                      -8-

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