Document:

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                                                                    Exhibit 10.8

                               OPEN SOLUTIONS INC.

                              Employment Agreement

                                                                October 18, 1999

Mr. Louis Hernandez, Jr.
15 Vernon Road
Belmont, MA 02478

      This Agreement is entered into between you and Open Solutions Inc., a
Delaware Corporation (the "Company"), in consideration of the mutual promises
and covenants contained herein and for other good and valuable consideration,
including but not limited to the employment of you by the Company, your access
to the Company's confidential business and technological information, your
advancement at the Company, and any eligibility to receive benefits from the
Company.

      Accordingly, the Company agrees with you as follows:

      1. Position and Responsibilities.

            1.1 You shall serve in an executive capacity as Chief Executive
Officer or in a position substantially equivalent thereto and shall perform such
duties at such place or places as the Company shall designate subject to section
2.5(e).

            1.2 You will, to the best of your ability, devote your full time and
best efforts to the performance of your job hereunder and to the business and
affairs of the Company. You agree to serve as a director, officer or both of the
Company, if elected by the shareholders or the Company's Board of Directors (the
"Board"), and to perform such executive duties as may be assigned to you by the
Board from time to time.

            1.3 You will duly, punctually and faithfully perform your job duties
and observe any and all rules and regulations, which the Company may now or
shall hereafter establish governing its employees and the conduct of its
business.

      2. Term of Employment.

            2.1 The term of your employment shall be three (3) years commencing
on November 15, 1999, provided, however, that your employment shall
automatically

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terminate upon your death and may be terminated at any time as provided in
Section 2.2. Subject to Section 2.2 below, at the end of the initial three (3)
year term, your term of employment shall renew automatically for an additional
one year term unless either you or the Company provides written notice to the
other party of cancellation of such term at least 60 days prior to the
expiration of the initial three-year term.

            2.2 Your employment may be terminated as follows:

            (a) The Company shall have the right, by giving you written notice,
      to terminate your employment:

                  (i) immediately for Cause (as hereinafter defined); or

                  (ii) at any time without Cause; or

                  (iii) upon a Change of Control (as hereinafter defined).

            (b) You shall have the right, on written notice to the Company, to
      terminate your employment for Good Reason (as hereinafter defined).

            (c) You shall have the right, on written notice to the Company, to
      terminate your employment without Good Reason.

            2.3 If your employment is terminated (a) by the Company without
Cause pursuant to Section 2.2(a)(ii) above or (b) by you with Good Reason
pursuant to Section 2.2(b) above, the Company shall be obligated to pay you
severance pay in an amount equal to twelve (12) months of your base salary then
in effect, less applicable taxes and other required withholdings and any amount
you may owe to the Company, payable in eighteen (18) equal monthly installments
on the first day of each month commencing the first day of the month next
following the date of termination. In the event your employment is terminated by
the Company without Cause or by you for Good Reason prior to the completion of
the first year of your employment, any stock options granted to you normally
vesting upon the completion of your first year of employment shall vest ratably
based on the number of months of employment you have completed. If your
employment is terminated by the Company upon a Change in Control pursuant to
Section 2.2(a)(iii) above, you shall be paid the base salary then in effect for
any unexpired term of your employment, and any stock options granted to you
shall become fully vested in their entirety. Notwithstanding the foregoing, if
the Company has ceased operations or has had a petition in bankruptcy filed for
or against it, the Company shall be relieved of its obligations under this
Section 2.3 and you shall only be entitled to payments pursuant to this Section
2.3 as and when payments are made to other unsecured creditors of the Company.

            2.4 For purposes of this Agreement, the term "Cause" shall mean: (a)
habitual intoxication: (b) drug addiction: (c) conviction of a felony (or a plea
of guilty or nolo contendre to a fe1ony charge): (d) adjudication by a court as
a mental incompetent: (e) insubordination, malfeasance, or willful misconduct:
or (f) material failure or inability to

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perform your agreements, duties, or obligations as an employee of the Company or
under this Agreement (including, without limitation, as a result of your
voluntary or involuntary termination of employment).

            2.5 For purposes of this Agreement the term "Good Reason" shall
mean, without your consent: (a) your removal from, or the failure to elect or
re-elect you to, the Board, except when such removal or failure to elect or
re-elect relates to your termination by the Company for Cause; (b) a significant
reduction in the nature or scope of the authorities, powers, functions or duties
attached to your position with the Company ("Reduction in Duties"); (c) the
failure of the Company to maintain its incentive compensation plan, or its
equivalent; (d) a Change in Control (as hereinafter defined) as a result of
which (i) you are in any way constrained in carrying out the authorities,
powers, functions or duties attached to the position stated in Section 1.1
hereof or (ii) there is a Reduction in Duties and, in either case, if after
reasonable negotiation with the new control group, the situation is not remedied
or (e) requiring you to be permanently based at a location in excess of fifty
miles from Glastonbury, CT.

            2.6 For purposes of this Agreement, a "Change in Control" shall mean
when: (a) the Company sells all or substantially all of its assets; or (b) any
person (as such term is defined in Sections 3(a)(9) and 13(d)(3) of the
Securities Exchange Act of 1934, each a "person"), other than (x) the current
shareholders of the Company, {y) one or more venture capital investors or (z) in
connection with an underwritten registered public offering of the securities of
the Company, any person or persons, becomes a beneficial owner, directly or
indirectly, of securities of the Company representing sufficient votes to elect
a majority of the Board.

      3. Compensation.

            3.1 The Company shall pay to you a salary for your services to the
Company at the initial annual rate of $292,000, as may be increased periodically
by the Board of Directors, in its sole discretion, payable in installments in
accordance with the Company's prevailing practice, as modified from time to time
(the "Base Salary").

            3.2 In addition to the regular annual compensation to be paid to you
in accordance with Section 3.1 above, you may be entitled to bonuses, as
follows:

            (a) The Company shall pay you a one-time bonus based on the
      successful completion of an initial public offering by the Company (the
      "Offering"). The bonus shall be $50,000 if the Offering is completed on or
      before June 30, 2000 or shall be $25,000 if the Offering is completed on
      or between July 1, 2000 and December 31, 2000. In the event that an
      Offering is completed on or before the completion of your first year of
      employment, any stock options granted to you which would normally vest
      upon completion of your first year of employment shall vest ratably upon
      completion of the Offering based upon the number of months of employment
      you have completed.

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            (b) You may also receive a bonus after the completion of the
      Company's audited financial statements for its fiscal year 2000. Such
      bonus shall not exceed fifty percent (50%) of your then Base Salary and
      shall be based on the Company's actual performance during its fiscal year
      2000. The Board of Directors, with your consultation and active
      participation, shall set by no later than December 31, 1999 the standards
      for the Company's expected performance in its fiscal year 2000 and a
      mechanism to calculate the amount of your bonus based on performance of
      such standards. The performance goals which you will be required to attain
      to entitle you to payment of the bonus may include, without limitation,
      the Company's market value, stock price, profitability, sales, product
      research and development, customer installations, management practices and
      such other areas as may be considered appropriate to further corporate
      strategies.

            3.3 Relocation Expenses. The Company shall reimburse you for your
reasonable, out-of-pocket expenses incurred by reason of your relocation to the
Glastonbury, Connecticut area in an amount not to exceed $50,000.

      4. Incentive Stock Options.

            4.1 Upon commencement of your employment, you will be granted an
option to purchase 500,000 shares of the Company's common under to the Company's
Incentive Stock Option Program at an exercise price of $4.00 per share, the form
of which is attached hereto as Exhibit A.

      5. Other Activities during Employment.

            5.1 Except with the prior written consent of the Company's Board of
Directors, you will not during the term of this Agreement undertake or engage in
any other employment, occupation or business enterprise other than one in which
you are an inactive investor as described in Section 5.3. This provision shall
not be deemed to preclude membership in professional societies, lecturing or the
acceptance of honorary positions, that are in any case incidental to your
employment by the Company and which are not adverse or in conflict with the
interests of the Company, its business or prospects, financial or otherwise. The
Company hereby consents to your continued service as a Director of EDU.com and
IChina.com, for, in the Company's sole discretion, as long as said firms or
directorships continue to not be adverse or in conflict with the interests of
the Company, its business or prospects, financial or otherwise.

            5.2 Except as permitted by Section 5.3, you will not acquire, assume
or participate in, directly or indirectly, any position, investment or interest
adverse or in conflict with the interests or the Company, its business or
prospects, financial or otherwise, or take any action towards any of the
foregoing.

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            5.3 During the term of your employment by the Company, except on
behalf of the Company or its subsidiaries, you will not, directly or indirectly,
whether as an officer, director, employee, stockholder, partner, proprietor,
associate, representative, or otherwise, become or be interested in any other
person, corporation, firm, partnership or other entity whatsoever which directly
competes with the Company, in any part of the world, in any line of business
engaged in (or which the Company has made plans to be engaged in) by the
Company: provided, however, that anything above to the contrary notwithstanding,
you may own, as an inactive investor, securities of any competitor corporation,
so long as your holdings in any one such corporation shall not in the aggregate
constitute more than one percent (1%) of the voting stock of such corporation.

      6. Former Employment.

            6.1 You represent and warrant that your employment by the Company
will not conflict with and will not be constrained by any prior employment or
consulting agreement or relationship, and that the use of any skills and
knowledge that you may have by the Company are not in violation of the terms of
any contract to which you are a party or any other applicable provisions of the
law. Subject to Section 6.2. you represent and warrant that you do not possess
confidential information arising out of prior employment which, in your best
judgment, would be utilized in connection with your employment by the Company in
the absence of Section 6.2.

            6.2 If, in spite of the second sentence of Section 6.1, you should
find that confidential information belonging to any former employer might be
usable in connection with the Company's business, you will not intentionally
disclose to the Company or use on its behalf any confidential information
belonging to any of your former employers; but during your employment by the
Company you will use in the performance of your duties all information which is
generally known and used by persons with training and experience comparable to
your own and all information which is common knowledge in the industry or
otherwise legally in the public domain.

      7. Confidentiality. You acknowledge that in the course of performing your
duties hereunder it will be necessary to disclose to you or you will be exposed
to, proprietary and other confidential information of the Company, including,
without limitation, the Company's product information, data, processes, methods,
inventions, discoveries, improvements, financial data, business product and
marketing plans, and customer information (collectively, "Confidential
Information"). You agree not to use or disclose the Confidential Information to
any third party (or cause such use or disclosure), except as necessary to
perform the duties assigned to you by the Company hereunder and in furtherance
of the best interests of the Company, or as may otherwise be authorized in
writing by the Company. Confidential Information shall not include information
which (i) is or hereafter becomes publicly known through no fault of yours or
(ii) is lawfully disclosed to you by a third party having a right to disclose
such information.

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      8. Proprietary Information and Inventions. You agree to execute and be
bound by the provisions of a Proprietary Information and Inventions Agreement in
substantially the form attached hereto as Exhibit B.

      9. Post-Employment Activities.

            9.1 You acknowledge and agree that as a result of, among other
things, (i) your access to significant and valuable Confidential Information (as
defined in Section 7 above) of the Company and (ii) the lucrative world-wide
market for the Company's expertise, services, products and technology, the
restrictions contained in this Section 9 are reasonable in all respects and
necessary to protect the Company's investments in your training and in the
Company's good will and other business interests.

            9.2 Based on the foregoing and in consideration thereof and of the
payments to be made to you by the Company pursuant to this Agreement, for a
period of eighteen (18) months after the termination of your employment with the
Company you will not directly or indirectly:

      (a) engage in activities (similar or reasonably related to those in which
you shall have engaged during the 12 months immediately preceding the
termination of your employment with the Company) for, nor render services
(similar or reasonably related to those which you shall have rendered hereunder
during such 12 months) to, any firm or business organization which directly
competes with the Company in any line of business engaged in by the Company (or
which the Company's Board formally resolved during your employment to be engaged
in), whether now existing or established during your employment, nor shall you
engage in such activities nor render such services to any other person or entity
engaged or about to become engaged in such activities to, for, or on behalf of,
any such firm or business organization:

            (i) in connection with the sale, marketing or promotion to any
      customer of the Company upon whom you have called or in whose account you
      participated or supervised on behalf of the Company during the year prior
      to the termination of your employment with the Company, or

            (ii) with respect to any product, process, or service, in existence
      or under development which substantially resembles or competes with a
      product, process, or service of the Company in existence or under
      development upon which you worked or exercised supervisory responsibility
      at any time during the year prior to the termination of your employment
      with the Company:

      (b) solicit employees of the Company to leave its employ;

      (c) offer or cause to be offered employment to any person who is employed
by the Company at any time during the six months prior to the termination of
your employment with the Company;

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      (d) entice, induce or encourage any of the Company's other employees to
engage in any activity which, were it done by you, would violate any provision
of Sections 7 or 8 or this Section 9; or

      (e) otherwise attempt to interfere with or disrupt the business or
activities of the Company.

            9.3 Upon your written request to the Company specifying the
activities proposed to be conducted by you, the Company may in its discretion
give you written approval(s) to personally engage in any activity or render
services referred to in Section 9.2 upon receipt of written assurances
(satisfactory to the Company and its counsel) from you and from your prospective
employer(s) that the integrity of the provisions of Sections 7, 8 and 9 will not
in any way be jeopardized or violated by such activities, provided the burden of
so establishing the foregoing to the satisfaction of the Company and said
counsel shall be upon you and your prospective employer(s).

      10. Remedies. Your duties under Sections 7, 8 and 9 shall survive
termination of your employment with the Company. You acknowledge that a remedy
at law for any breach or threatened breach by you of the provisions of the
Sections 7, 8 or 9 would be inadequate and you therefore agree that the Company
shall be entitled to injunctive relief in case of any such breach or threatened
breach.

      11. Miscellaneous.

            11.1 Assignment. This Agreement and the rights and obligations of
the parties hereto shall bind and inure to the benefit of any successor or
successors of the Company by reorganization, merger or consolidation and any
assignee of all or substantially all of its business and properties, but, except
as to any such successor or assignee or the Company, neither this Agreement nor
any rights or benefits hereunder may be assigned by the Company or you.

            11.2 Interpretation. In case any one or more of the provisions
contained in this Agreement shall, for any reason, be held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect the other provisions of this Agreement, and
this Agreement shall be construed as if such invalid, illegal or unenforceable
provision had never been contained herein. If moreover, any one or more of the
provisions contained in this Agreement shall for any reason be held to be
excessively broad as to duration, geographical scope, activity or subject, it
shall be construed by limiting and reducing it, so as to be enforceable to the
extent compatible with the applicable law as it shall then appear.

            11.3 Notices. Any notice which the Company is required or may desire
to give to you shall be given to you by personal delivery or registered or
certified mail, return receipt requested, addressed to you at the address of
record with the Company, or at such

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other place as you may from time to time designate in writing. Any notice which
you are required or may desire to give to the Company hereunder shall be given
by personal delivery or by registered or certified mail, return receipt
requested, addressed to the Company at its principal office, or at such other
office as the Company may from time to time designate in writing. The date of
personal delivery or the dates of mailing any such notice shall be deemed to be
the date of delivery thereof.

            11.4 Waivers. If either party shall waive any breach of any
provision of this Agreement, he or it shall not thereby be deemed to have waived
any preceding or succeeding breach of the same or any other provision of this
Agreement.

            11.5 Headings. The headings of the sections hereof are inserted for
convenience only and shall not be deemed to constitute a part hereof nor to
affect the meaning hereof.

            11.6 Governing Law. This Agreement shall be governed by, and
construed and enforced in accordance with, the laws of the State of Connecticut.

            11.7 Complete Agreement; Amendments; Prior Agreements. The foregoing
is the entire agreement of the parties with respect to the subject matter hereof
and may not be amended, supplemented, cancelled or discharged except by written
instrument executed by both parties hereto. This Agreement supersedes any and
all prior agreements between the Company and you with respect to the matters
covered hereby.

            11.8 Counterparts. This Agreement may be executed in counterparts,
each of which when so executed and delivered shall constitute a complete and
original instrument but all of which together shall constitute one and the same
agreement, and it shall not be necessary when making proof of this Agreement or
any counterpart thereof to account for any other counterpart.

      If you are in agreement with the foregoing, please so indicate by signing
and returning the enclosed copy of this Agreement.

                                            OPEN SOLUTIONS INC.

                                            By: /s/ Douglas Anderson
                                                --------------------------------
                                            Title: Chairman
                                                   -----------------------------

Accepted and agreed:

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/s/ Louis Hernandez, Jr.
------------------------------
Louis Hernandez, Jr.

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                                                                       Exhibit A

                    FORM OF INCENTIVE STOCK OPTION AGREEMENT

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                               OPEN SOLUTIONS INC.

                        INCENTIVE STOCK OPTION AGREEMENT

1. Grant of Option. OPEN SOLUTIONS INC., a Delaware corporation (the "Company"),
hereby grants to LOUIS HERNANDEZ, JR. (the "Optionee") an option, pursuant to
the Company's 1994 Stock Option Plan (the "Plan"), to purchase an aggregate of
500,000 shares of Common Stock ("Common Stock") of the Company at a price of
$4.00 per share, purchasable as set forth in and subject to the terms and
conditions of this option and the Plan. Except where the context otherwise
requires, the term "Company" shall include the parent and all present and future
subsidiaries of the Company as defined in Sections 424(e) and 424(f) of the
Internal Revenue Code of 1986, as amended or replaced from time to time (the
"Code").

2. Incentive Stock Option. This option is intended to qualify as an incentive
stock option ("Incentive Stock Option") within the meaning of Section 422 of the
Code.

3. Exercise of Option and Provisions for Termination.

      (a) Vesting Schedule. Except as otherwise provided in this Agreement, this
option may be exercised prior to the tenth anniversary of the date of grant
(hereinafter the "Expiration Date") as to not more than the following number of
shares covered by this option during the respective periods set forth below:

      (1) No shares from and after the date of grant and prior to the first
anniversary date of the date of grant;

      (2) 125,000 shares from and after the first anniversary date of the date
of grant and prior to November 15, 2000;

      (3) 10,417 shares from and after the l5th day of each month commencing
November 2000 and prior to October 2003; and

      (4) 10,405 shares from and after the fourth anniversary date of the date
of grant.

      Notwithstanding the foregoing, if the Optionee's employment with the
Company is terminated by the Company without Cause (as defined in that certain
employment agreement dated as of October 18, 1999 by and between the Company and
the Optionee (the "Employment Agreement")) or by the Optionee with Good Reason
(as defined in the Employment Agreement) prior to the first anniversary date of
the date of grant, then this option may be exercised as to not more than that
number of shares equal to the product of 10,417 times the number of full months
of employment with the Company commencing the date of this Agreement and ending
the date of such termination of employment. If the Optionee's employment with
the Company is terminated by the Company upon a Change in Control (as defined in
the Employment Agreement) then this option shall be immediately exercisable in
its entirety effective upon the date of such termination. If the Company
completes a sale of its securities pursuant to a registration statement filed by
the Company under the Securities Act of 1933, as amended (the

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"Securities Act"), in connection with the firm commitment underwritten offering
of its securities to the general public (an "IPO") prior to the first
anniversary date of the date of grant, then this option may be exercised as
follows: (i) not more than that number of shares equal to the product of 10,417
times the number of full months commencing the date of this Agreement and ending
the date an IPO is consummated, exercisable on and after the date an IPO is
consummated; (ii) not more than that number of shares equal to the difference of
125,000 minus the number of shares determined pursuant to clause (i) above,
exercisable on and after the first anniversary of the date of grant; and (iii)
not more than the number of shares set forth in clauses (3) and (4) above,
exercisable on and after the dates set forth in clauses (3) and (4) above.

      The right of exercise shall be cumulative so that if the option is not
exercised to the maximum extent permissible during any exercise period, it shall
be exercisable, in whole or in part, with respect to all shares not so
purchased at any time prior to the Expiration Date or the earlier termination of
this option. This option may not be exercised at any time on or after the
Expiration Date.

      (b) Exercise Procedure. Subject to the conditions set forth in this
Agreement, this option shall be exercised by the Optionee's delivery of written
notice of exercise to the Treasurer of the Company, specifying the number of
shares to be purchased and the purchase price to be paid therefor and
accompanied by payment in full in accordance with Section 4. Such exercise shall
be effective upon receipt by the Treasurer of the Company of such written notice
together with the required payment. The Optionee may purchase less than the
number of shares covered hereby, provided that no partial exercise of this
option may be for any fractional share or for fewer than ten whole shares.

      (c) Continuous Employment Required. Except as otherwise provided in this
Section 3, this option may not be exercised unless the Optionee, at the time he
or she exercises this option is, and has been at all times since the date of
grant of this option, an employee of the Company. For all purposes of this
option, (i) "employment" shall be defined in accordance with the provisions of
Section 1.421-7(h) of the Income Tax Regulations or any successor regulations,
and (ii) if this option shall be assumed or a new option substituted therefor in
a transaction to which Section 424(a) of the Code applies, employment by such
assuming or substitution corporation (hereinafter called the "Successor
Corporation") shall be considered for all purposes of this option to be
employment by the Company.

      (d) Exercise Period Upon Termination of Employment. If the Optionee ceases
to be employed by the Company for any reason, then, except as provided in
paragraph (e) below, the right to exercise this option shall terminate three
months after such cessation (but in no event after the Expiration Date),
provided that this option shall be exercisable only to the extent that the
Optionee was entitled to exercise this option on the date of such cessation. The
Company's obligation to deliver shares upon the exercise of this option shall be
subject to the satisfaction of all applicable federal, state and local income
and employment tax withholding requirements, arising by reason of this option
being treated as a non-statutory option or otherwise.

      (e) Exercise Period Upon Death or Disability. If the Optionee dies or
becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior to
the Expiration Date while

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he is an employee of the Company, or if the Optionee dies within three months
after the Optionee ceases to be an employee of the Company (other than as the
result of a discharge for "cause" as specified in paragraph (f) below), this
option shall be exercisable, within the period of one year following the date of
death or disability of the Optionee (but in no event after the Expiration Date),
by the Optionee or by the person to whom this option is transferred by will or
the laws of descent and distribution to the same extent that the Optionee could
have exercised this option or the date of his death or disability. Except as
otherwise indicated by the context, the term "Optionee", as used in this option,
shall be deemed to include the estate of the Optionee or any person who acquires
the right to exercise this option by bequest or inheritance or otherwise by
reason of the death of the Optionee.

4. Payment of Purchase Price.

      (a) Method of Payment. Payment of the purchase price for shares purchased
upon exercise of this option shall be made (i) by delivery to the Company of
cash or a check to the order of the Company in an amount equal to the purchase
price of such shares, (ii) subject to the consent of the Company, by delivery to
the Company of shares of Common Stock of the Company then owned by the Optionee
having a fair market value equal in amount to the purchase price of such shares,
(iii) by any other means which the Board of Directors determines are consistent
with the purpose of the Plan and with applicable laws and regulations
(including, without limitation, the provisions of Rule 16b-3 under the
Securities Exchange Act of 1934 and Regulation T promulgated by the Federal
Reserve Board), or (iv) by any combination of such methods of payment.

      (b) Valuation of Shares or Other Non-Cash Consideration Tendered in
Payment of Purchase Price. For the purposes hereof, the fair market value of any
share of the Company's Common Stock or other non-cash consideration which may be
delivered to the Company in exercise of this option shall be determined in good
faith by the Board of Directors of the Company.

      (c) Delivery of Shares Tendered in Payment of Purchase Price. If the
Optionee exercises this option by delivery of shares of Common Stock of the
Company, the certificate or certificates representing the shares of Common Stock
of the Company to be delivered shall be duty executed in blank by the Optionee
or shall be accompanied by a stock power duly executed in blank suitable for
purposes of transferring such shares to the Company. Fractional shares of Common
Stock of the Company will not be accepted in payment of the purchase price of
shares acquired upon exercise of this option.

      (d) Restrictions on Use of Option Stock. Notwithstanding the foregoing, no
shares of Common Stock of the Company may be tendered in payment of the purchase
price of shares purchased upon exercise of this option if the shares to be so
tendered were acquired within twelve (12) months before the date of such tender,
through the exercise of an option granted under the Plan or any other stock
option or restricted stock plan of the Company.

5. Delivery of Shares; Compliance With Securities Laws, Etc.

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      (a) General. Subject to the Company's right of first refusal under Section
12, the Company shall, upon payment of the option price for the number of shares
purchased and paid for, make prompt delivery of such shares to the Optionee,
provided that if any law or regulation requires the Company to take any action
with respect to such shares before the issuance thereof, then the date of
delivery of such shares shall be extended for the period necessary to complete
such action.

      (b) Listing, Qualification, Etc. This option shall be subject to the
requirement that if, at any time, counsel to the Company shall determine that
the listing, registration or qualification of the shares subject hereto upon any
securities exchange or under any state or federal law, or the consent or
approval of any governmental or regulatory body, or that the disclosure of
non-public information or the satisfaction of any other condition is necessary
as a condition of, or in connection with, the issuance or purchase of shares
hereunder, this option may not be exercised, in whole or in part, unless such
listing, registration, qualification, consent or approval, disclosure or
satisfaction of such other condition shall have been effected or obtained on
terms acceptable to the Board of Directors. Nothing herein shall be deemed to
require the Company to apply for, effect or obtain such listing, registration,
qualification or disclosure, or to satisfy such other condition.

6. Nontransferability of Option. Except as provided in paragraph (e) of Section
3, this option is personal and no rights granted hereunder may be transferred,
assigned, pledged or hypothecated in any way (whether by operation of law or
otherwise) nor shall any such rights be subject to execution, attachment or
similar process. Upon any attempt to transfer, assign, pledge, hypothecate or
otherwise dispose of this option or of such rights contrary to the provisions
hereof, or upon the levy of any attachment or similar process upon this option
or such rights, this option and such rights shall, at the election of the
Company, become null and void.

7. No Social Employment or Similar Rights. Nothing contained in the Plan or this
option shall be construed or deemed by any person under any circumstances to
bind the Company to continue the employment of the Optionee for the period
within which this option may be exercised.

8. Rights as a Shareholder. The Optionee shall have no rights as a shareholder
with respect to any shares which may be purchased by exercise of this option
(including, without limitation, any rights to receive dividends or non-cash
distributions with respect to such shares) unless and until a certificate
representing such shares is duly issued and delivered to the Optionee. No
adjustment shall be made for dividends or other rights for which the record date
is prior to the date such stock certificate is issued.

9. Adjustment Provisions.

      (a) General. If, through or as a result of any merger, consolidation, sale
of all or substantially all of the assets of the Company, reorganization,
recapitalization, reclassification, stock dividend, stock split, reverse stock
split or other similar transaction, (i) the outstanding shares of Common Stock
are increased or decreased or are exchanged for a different number or

                                     - 4 -
<PAGE>

kind of shares or other securities of the Company, or (ii) additional shares or
new or different shares or other securities of the Company or other non-cash
assets are distributed with respect to such shares of Common Stock or other
securities, the Optionee shall, with respect to this option or any unexercised
portion hereof. be entitled to the rights and benefits, and be subject to the
limitations, set forth in Section 16(a) of the Plan.

      (b) Board Authority to Make Adjustments. Any adjustments under this
Section 9 will be made by the Board of Directors, whose determination as to what
adjustments, if any, will be made and the extent thereof will be final, binding
and conclusive. No fractional shares will be issued pursuant to this option on
account of any such adjustments.

      (c) Limits on Adjustments. No adjustment shall be made under this Section
9 which would, within the meaning of any applicable provision of the Code,
constitute a modification, extension or renewal of this option or a grant of
additional benefits to the Optionee.

10. Mergers, Consolidation, Distributions, Liquidations, Etc. In the event of a
merger or consolidation or sale of all or substantially all of the assets of the
Company in which outstanding shares of Common Stock are exchanged for
securities, cash or other property of any other corporation or business entity,
or in the event of a liquidation of the Company, prior to the Expiration Date or
termination of this option, the Optionee shall, with respect to this option or
any unexercised portion hereof, be entitled to the rights and benefits, and be
subject to the limitations, set forth in Section 17(a) of the Plan.

11. Withholding Taxes. The Company's obligation to deliver shares upon the
exercise of this option shall be subject to the Optionee's satisfaction of all
applicable federal, state and local income and employment tax withholding
requirements.

12. Right of First Refusal.

      (a) Grant. The Company is hereby granted the right of first refusal (the
"Right of First Refusal"), exercisable in connection with any proposed transfer
of any shares purchased in accordance with this Agreement. For purposes of this
Section 12, the term "transfer" shall include any sale, assignment, pledge,
encumbrance or other disposition for value of the shares intended to be made by
the Optionee, but shall not include any of the permitted transfers under
paragraph (e) of Section 3 and the term "Optionee" includes any successor in
interest by reason of purchase, gift or other transfer.

      (b) Notice of Intended Disposition. In the event the Optionee desires to
accept a bona fide third-party offer for the transfer of any or all of the
shares (the shares subject to such offer to be hereinafter called the "Target
Shares"), the Optionee shall promptly (i) deliver to the Company written notice
as specified in Section 15 (the "Disposition Notice") of the terms and
conditions of the offer, including the purchase price and the identity of the
third-party offeror, and (ii) provide satisfactory proof that the disposition of
Target Shares to such third-party offeror would not be in contravention of any
other provision set forth in this Agreement.

                                     - 5 -
<PAGE>

      (c) Exercise of Right. The Company (or its assignees) shall, for a period
of twenty-five (25) days following receipt of the Disposition Notice, have the
right to repurchase any or all of the Target Shares specified in the Disposition
Notice upon the same terms and conditions specified therein, subject to the
immediately following paragraph. Such right shall be exercisable by delivery of
written notice (the "Exercise Notice") to the Optionee prior to the expiration
of the twenty-five (25)-day exercise period. If such right is exercised with
respect to all the Target Shares specified in the Disposition Notice, then the
Company (or its assignee) shall effect the repurchase of the Target Shares,
including payment of the purchase price, not more than five (5) business days
after delivery of the Exercise Notice; and at such time the Optionee shall
deliver to the Company the certificates representing the Target Shares to be
repurchased, each certificate to be properly endorsed for transfer.

      Should the purchase price specified in the Disposition Notice be payable
in property other than cash or evidences of indebtedness, the Company (or its
assignees) shall have the right to pay the purchase price in the form of cash
equal in amount to the value of such property. If the Optionee and the Company
(or its assignees) cannot agree on such cash value within ten (10) days after
the Company's receipt of the Disposition Notice, the valuation shall be made by
an appraiser of recognized standing selected by the Optionee and the Company (or
its assignees) or, if they cannot agree on an appraiser within twenty (20) days
after the Company's receipt of the Disposition Notice, each shall select an
appraiser of recognized standing and the two appraisers shall designate a third
appraiser of recognized standing, whose appraisal shall be determinative of such
value. The cost of such appraisal shall be shared equally by the Optionee and
the Company. The closing shall then be held on the later of (i) the fifth
business day following delivery of the Exercise Notice or (ii) the fifth
business day after such cash valuation shall have been made.

      (d) Non-Exercise of Right. In the event the Exercise Notice is not given
to the Optionee within twenty-five (25) days following the date of the Company's
receipt of the Disposition Notice, the Optionee shall have a period of thirty
(30) days thereafter in which to sell or otherwise dispose of the Target Shares
to the third-party offeror identified in the Disposition Notice upon terms and
conditions (including the purchase price) no more favorable to such third-party
offeror than those specified in the Disposition Notice; provided, however, that
any such sale or disposition must not be effected in contravention of the other
provisions of this Agreement. The third-party offeror shall acquire the Target
Shares free and clear of the Company's Right of First Refusal hereunder, but the
acquired shares shall remain subject to the securities law restrictions of this
Agreement. In the event Optionee does not effect such sale or disposition of the
Target Shares within the specified thirty (30)-day period, the Company's Right
of First Refusal shall continue to be applicable to any subsequent disposition
of the Target Shares by Optionee until such right lapses in accordance with
paragraph (f) below.

      (e) Partial Exercise of Right. In the event the Company (or its assignees)
makes a timely exercise of the Right of First Refusal with respect to a portion,
but not all, of the Target Shares specified in the Disposition Notice, Optionee
shall have the option, exercisable by written notice to the Company delivered
within thirty (30) days after the date of the Disposition Notice, to effect the
sale of the Target Shares pursuant to one of the following alternatives:

                                     - 6 -
<PAGE>

            (i)   sale or other disposition of all the Target Shares to the
                  third-party offeror identified in the Disposition Notice, but
                  in full compliance with the requirements of paragraph (d), as
                  if the Company did not exercise the Right of First Refusal
                  hereunder; or

            (ii)  sale to the Company (or its assignees) of the portion of the
                  Target Shares which the Company (or its assignees) has elected
                  to purchase, such sale to be effected in substantial
                  conformity with the provisions of paragraph (c) above.

                  Failure of Optionee to deliver timely notification to the
                  Company under this paragraph (e) shall be deemed to be an
                  election by Optionee to sell the Target Shares pursuant to
                  alternative (i) above.

      (f) Lapse. The Right of First Refusal under this Section 12 shall lapse
and cease to have effect upon the consummation by the Company of an IPO or when
the Company is subject to the requirements of Sections 12(g) or 15(d) of the
Securities and Exchange Act of 1934, whichever event shall first occur.

13. Limitations on Disposition of Incentive Stock Option Shares. It is
understood and intended that this option shall qualify as an "incentive stock
option" as defined in Section 422 of the Code. Accordingly, the Optionee
understands that in order to obtain the benefits of an incentive stock option
under Section 421 of the Code, no sale or other disposition may be made of any
shares acquired upon exercise of the option within one year after the day of the
transfer of such shares to him, nor within two years after the grant of the
option. If the Optionee intends to dispose, or does dispose (whether by sale,
exchange, gift, transfer or otherwise), of any such shares within said periods,
he will notify the Company in writing within ten days after such disposition.

14. Investment Representations; Legends.

      (a) Representations. The Optionee represents, warrants and covenants that:

            (i)   Any shares purchased upon exercise of this option shall be
                  acquired for the Optionee's account for investment only, and
                  not with a view to, or for sale in connection with, any
                  distribution of the shares in violation of the Securities Act,
                  or any rule or regulation under the Securities Act.

            (ii)  The Optionee has had such opportunity as he has deemed
                  adequate to obtain from representatives of the Company such
                  information as is necessary to permit the Optionee to evaluate
                  the merits and risks of his investment in the Company.

            (iii) The Optionee is able to bear the economic risk of holding such
                  shares acquired pursuant to the exercise of this option for an
                  indefinite period.

                                     - 7 -
<PAGE>

            (iv)  The Optionee understands that (A) the shares acquired pursuant
                  to the exercise of this option will not be registered under
                  the Securities Act and are "restricted securities" within the
                  meaning of Rule 144 under the Securities Act; (B) such shares
                  cannot be sold, transferred or otherwise disposed of unless
                  they are subsequently registered under the Securities Act or
                  an exemption from registration is then available; (C) in any
                  event, an exemption from registration under Rule 144 or
                  otherwise under the Securities Act may not be available for at
                  least one year and even then will not be available unless a
                  public market then exists for the Common Stock, adequate
                  information concerning the Company is then available to the
                  public, and other terms and conditions of Rule 144 are
                  complied with; and (D) there is now no registration statement
                  on file with the Securities and Exchange Commission with
                  respect to any stock of the Company and the Company has no
                  obligation, or current intention to register any shares
                  acquired pursuant to the exercise of this option under the
                  Securities Act.

            (v)   The Optionee agrees that, if the Company offers any of its
                  Common Stock for sale pursuant to a registration statement
                  under the Securities Act, the Optionee will not, without the
                  prior written consent of the Company, offer, sell, contract to
                  sell or otherwise dispose of, directly or indirectly (a
                  "Disposition"), any shares purchased upon exercise of this
                  option for a period of 90 days after the effective date of
                  such registration statement.

                  By making payment upon exercise of this option, the Optionee
                  shall be deemed to have reaffirmed, as of the date of such
                  payment, the representations made in this Section 14.

      (b) Legends on Stock Certificate. All stock certificates representing
shares of Common Stock issued to the Optionee upon exercise of this option shall
have affixed thereto legends substantially in the following forms, in addition
to any other legends required by applicable state law:

            "The shares of stock represented by this certificate have not been
            registered under the Securities Act of 1933 and may not be
            transferred, sold or otherwise disposed of in the absence of an
            effective registration statement with respect to the shares
            evidenced by this certificate, filed and made effective under the
            Securities Act of 1933, or an opinion of counsel satisfactory to the
            Company to the effect that registration under such Act is not
            required."

            "The shares of stock represented by this certificate are subject to
            certain restrictions on transfer and a right of first refusal
            contained in an Option Agreement, a copy of which will be furnished
            upon request by the issuer."

15. Miscellaneous.

                                     - 8 -
<PAGE>

      (a) Except as provided herein, this option may not be amended or otherwise
modified unless evidenced in writing and signed by the Company and the Optionee.

      (b) All notices under this option shall be mailed or delivered by hand to
the parties at their respective addresses set forth beneath their names below or
at such other address as may be designated in writing by either of the parties
to one another.

                                     - 9 -
<PAGE>

      This option shall be governed by and construed in accordance with the laws
of the State of Connecticut

Date of Grant: ________________            OPEN SOLUTIONS INC.

                                       By: /s/ Debra Dabrowski Rooney
                                           ---------------------------
                                           Debra Rooney
                                           Secretary
                                           Open Solutions Inc.
                                           300 Winding Brook Drive
                                           Gastonbury, CT 06033

                                     - 10 -
<PAGE>

                              OPTIONEE'S ACCEPTANCE

      The undersigned hereby accepts the foregoing option and agrees to the
terms and conditions thereof. The undersigned hereby acknowledges receipt of a
copy of the Company's 1994 Stock Option Plan.

                                    OPTIONEE:

                                    /s/ Louis Hernandez, Jr.
                                    ------------------------------
                                    Louis Hernandez, Jr.
                                    15 Vernon Road
                                    Belmont, MA 02478

                                     - 11 -
<PAGE>

                                    EXHIBIT A
                                       TO
                PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT

Open Solutions Inc.
300 Winding Brook Drive
Glastonbury, CT 06033

Ladies and Gentlemen:

      1. The following is a complete list of all inventions or improvements
relevant to the subject matter of my employment by Open Solutions Inc.
Corporation (the "Company") which have been made or conceived or first reduced
to practice by me alone or jointly with others prior to my engagement by the
Company.

       x  No inventions or improvements
      ---
          See Below
      ---

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

          Additional sheets attached
      ---

      2. I propose to bring to my employment the following material and
documents of a former employer which are not personally available to the public,
which materials and documents may be used in my employment.

       x  No materials
      ---
          See Below
      ---

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

          Additional sheets attached
      ---

      The signature below confirms that my continued possession and use of these
materials is authorized.

                                                  Very truly yours,

Date: 10/18/99                                    /s/ Louis Hernandez, Jr.
                                                  ------------------------------
                                                  Louis Hernandez, Jr.
<PAGE>

                                                                       Exhibit B

                               OPEN SOLUTIONS INC.

                Proprietary Information and Inventions Agreement

      I recognize that Open Solutions Inc., a Delaware corporation (the
"Company") is engaged in a continuous program of research, development,
experimentation and production respecting its business, present and future.

      I understand that:

      A. As part of my employment by the Company I am expected to make new
contributions and inventions of value to the Company.

      B. My employment creates a relationship of confidence and trust between me
and the Company with respect to any information:

            (1) applicable to the business of the Company; and

            (2) applicable to the business of any client or customer of the
      Company, which may be made known to me by the Company or by any client or
      customer of the Company, or learned by me during the period of my
      employment.

      C. The Company possesses and will in the future possess information that
has been, or will be, created, discovered or developed, or has become or will
become otherwise known to the Company (including, without limitation,
information created, discovered, developed or made known by or to me during the
period of or arising out of my employment by the Company), and/or in which
property rights have been or will be assigned or otherwise conveyed to the
Company, which information has or will have actual or potential economic value
in the business in which the Company is engaged. All of the aforementioned
information is hereinafter called "Proprietary Information." By way of
illustration, but not limitation, Proprietary Information includes trade
secrets, processes, formulae, data and know-how, improvements, inventions,
techniques, marketing plans, Strategies, budgets, unpublished financial
statements, forecasts and customer lists.

      D. As used herein, the period of my employment includes any time in which
I may be retained by the Company as a consultant, and the term "Company'
includes any subsidiaries or other affiliates of the Company.

      In consideration of my employment or continued employment, as the case may
be, and the compensation received by me from the Company from time to time, I
hereby agree as follows:
<PAGE>

      1. All Proprietary Information shall be the sole property of the Company
and its assigns, and the Company and its assigns shall be the sole owner of all
patents, copyrights, trademarks and other rights in connection therewith. I
hereby assign to the Company any rights I may have or acquire in all Proprietary
Information. At all times, both during my employment by the Company and after
its termination, I will not acquire any Proprietary Information by improper
means. I will keep in confidence and trust all Proprietary Information which I
may acquire, and I will nor use or disclose any such Proprietary Information or
anything relating to it without the written consent of the Company, except as
may be necessary in the ordinary course of performing my duties as an employee
oft he Company.

      2. I agree that during the period of my employment by the Company I will
not engage in any employment or activity other than for the Company.

      3. In the event of the termination of my employment by me or by the
Company for any reason, I will deliver to the Company all documents and data of
any nature pertaining to my work with the Company and I will nor take with me
any documents or data of any description or any reproduction of any description
containing or pertaining to any Proprietary Information.

      4. I will promptly disclose to the Company, or any persons designated by
it, all improvements, inventions, formulae, processes, techniques, know-how,
data and ideas, whether or not patentable, made, conceived, reduced to practice,
developed, originated or learned by me, either alone or jointly with others,
either:

      (a) during the period of my employment which are directly or indirectly
related to or useful in the business or industry of the Company or the research
or development of the Company, or result from tasks assigned to me by the
Company or are otherwise within the scope of my responsibilities with the
Company, or result from use of facilities, equipment, supplies or premises
owned, leased or contracted for by the Company or use or knowledge of
Proprietary Information; or

      (b) within six (6) months after termination of my employment which are
directly or indirectly conceived as a result of, or are suggested or
attributable to, work done by me during such employment or result from use or
knowledge of Proprietary Information;

(all said improvements, inventions, formulae, processes, techniques, know-how,
ideas and data shall be collectively hereinafter called "Inventions").

      5. I agree that all Inventions shall be the sole property of the Company
and its assigns, and the Company and its assigns shall be the sole owner of all
patents and other rights in connection therewith. I hereby assign to the Company
any rights I may have or acquire in all Inventions. I further agree as to all
Inventions to assist the Company in every proper way (but at the Company's
expense) to obtain and from time to time enforce patents, copyrights, trademarks
and other rights and protections relating to the Inventions in any and all
countries, and to that end

                                     - 2 -
<PAGE>

I will execute all documents for use in applying for and obtaining such patents,
copyrights, trademarks, and other rights and protections and enforcing the same,
as the Company may desire, together with any assignments thereof to the Company
or persons designated by it. My obligation to assist the Company in obtaining
and enforcing patents, copyrights, trademarks and other rights and protections
relating to the Inventions in any and all countries shall continue beyond the
termination of my employment, but the Company shall compensate me at a
reasonable rate after such termination for time actually spent by me at the
Company's request on such assistance. In the event the Company is unable, after
reasonable effort, to secure my signature on any document or documents needed to
apply for or prosecute any patent, copyright, or other right or protection
relating to an Invention, for any reason whatsoever, I hereby irrevocably
designate and appoint the Company and its duly authorized officers and agents as
my agent and attorney-in-fact to act for and on my behalf to execute and file
any such application or applications and to do all other lawfully permitted acts
to further the prosecution and issuance of patents, copyrights, or similar
protections thereon with the same legal force and effect as if executed by me.

      6. As a matter of record I have identified on Exhibit A attached hereto
all inventions or improvements relevant to the subject matter of my employment
by the Company which have been made or conceived or first reduced to practice by
me alone or jointly with others prior to my engagement by the Company which I
desire to remove from the operation of this Agreement; and I represent that such
list is complete. If there is no such list on Exhibit A, I represent that I have
made no such inventions and improvements at the time of signing this Agreement.

      7. I represent that my performance of all terms of this Agreement and of
my duties and as an employee of the Company does not and will nor breach any
agreement to keep in confidence proprietary information acquired by me in
confidence or in trust prior to my employment by the Company. I have not entered
into, and I agree I will not enter into, any agreement either written or oral in
conflict herewith.

      8. I understand that as part of the consideration for the offer of
employment extended to me by the Company and of my employment or continued
employment by the Company, I have not brought and will nor bring with me to the
Company or use in the performance of my responsibilities at the Company (a) any
materials, documents or proprietary information of a former employer which are
not generally available to the public, unless I have obtained written
authorization from the former employer for their possession and use, or (b) any
proprietary information which I know or should have known has been acquired by
improper means, or otherwise misappropriated from another person.

      Accordingly, this is to advise the Company that the only material or
documents of a former employer which are nor generally available to the public
that I have brought or will bring to the Company or have used or will use in my
employment are identified on Exhibit A attached hereto, and, as to each such
item, I represent that I have obtained prior to the effective date of my

                                     - 3 -
<PAGE>

employment with the Company written authorization for their possession and use
in my employment with the Company.

      I also understand that, in my employment with the Company, I am not to
breach any obligation of confidentiality that I have to former employers, and I
agree that I shall fulfill all such obligations during my employment with the
Company.

      9. I agree that in addition to any other rights and remedies available to
the Company for any breach by me of my obligations hereunder, the Company shall
be entitled to enforce my obligations hereunder by court injunction, or court
ordered affirmative action, which injunction or ordered action may restrain a
future breaking of this Agreement if there is reasonable ground to believe that
such a breach is threatened. I further agree to allow the Company to enjoin
future use or disclosure of its trade secrets if it has reasonable grounds to
believe such action is necessary to protect such trade secrets.

      10. This Agreement shall be binding upon me, my heirs, executors, assigns
and administrators and shall inure to the benefit of the Company, its successors
and assigns, provided that this Agreement may not be assigned by me.

      11. It is the desire and intent of the parties hereto that the provisions
of this Agreement shall be enforced to the fullest extent permissible under the
laws and public policies applied in each jurisdiction in which enforcement is
sought. Accordingly, if any particular provision of this Agreement shall be
adjudicated to be invalid or unenforceable, such provision shall be deemed
amended to delete therefrom the portion thus adjudicated to be invalid or
unenforceable, such deletion to apply only with respect to the operation of such
provision in the particular jurisdiction in which such adjudication is made. In
addition, if any one or more of the provisions contained in this Agreement shall
for any reason be held to be excessively broad as to duration, geographical
scope, activity or subject, it shall be construed by limiting and reducing it,
so as to be enforceable to the extent compatible with the applicable law as it
shall then appear. This Agreement does not limit any duties, responsibilities or
obligations that I may have, or any rights of the Company, under applicable law.

      12. This Agreement shall be effective as of the first day of my employment
by the Company, namely: November 15, 1999.

      13. This Agreement shall be governed by and construed in accordance with
the law of the State of Connecticut.

Date: 10/18/99                                    /s/ Louis Hernandez, Jr.
      --------                                    ------------------------------
                                                  Louis Hernandez, Jr.

ACKNOWLEDGED AND AGREED:

                                     - 4 -<PAGE>
                                                                    Exhibit 10.9

                             Confidential Treatment

             Confidential Portions omitted and filed separately with
      the Securities and Exchange Commission. Asterisks denote omissions.

            SOFTWARE LICENSE AND MARKETING AND DISTRIBUTION AGREEMENT

This Software License and Marketing and Distribution Agreement (the "Agreement")
is entered into as of August 20, 1997 (the "Effective Date") by and between
BISYS, Inc. ("BISYS"), a Delaware corporation with its principal place of
business at 11 Greenway Plaza, Houston, TX 77046-1102, and Open Solutions Inc.
("OSI"), a Delaware corporation with its principal place of business at 300
Winding Brook Drive, Glastonbury, CT 06033.

RECITALS

A.   BISYS, through its TOTALPLUS(R) Division, is a leading provider of
comprehensive data processing outsourcing solutions to financial institutions.

B.   OSI is the developer and owner of The Complete Banking Solution(TM) system
and is a leading supplier of client/server software and information services to
financial institutions.

C.   The parties wish to establish an alliance whereby (i) BISYS will be the
exclusive national Outsourcing Services provider and exclusive national
Facilities Manager of The Complete Banking Solution system to Financial
Institutions in the United States; (ii) OSI will license to BISYS the OSI
Proprietary and OSI Interface Software used in connection with such system;
(iii) the parties will engage in certain marketing and selling activities; and
(iv) BISYS will be a recommended preferred provider of certain related services.

Now, therefore, in consideration of the mutual obligations set forth herein, the
parties agree as follows.

1.   DEFINITIONS

1.0  Change of Control - shall mean with respect to a particular entity (i) the
consummation of a merger or consolidation of that entity with another in which
the owners of interests (shares or otherwise) of the particular entity
immediately prior to the consummation of such transaction do not own at least
65% of the ownership interests of the surviving successor, acquiring or assuming
entity; (ii) the sale of all or substantially all the assets of such entity; or
(iii) the acquisition of beneficial ownership by any person (including a group
within the meaning of Section 13(d) or 14(d) of the Securities Exchange Act of
1934, as amended) of 35% or more of the outstanding ownership interests of such
entity. For the purposes of this agreement an initial public offering of OSI
shall not be deemed a change in control.

1.1   Conversion - shall mean the process of converting a new Customer's data to
      the System.

1.2   Conversion Date - shall mean the date on which live production begins.
      Live production shall mean the time when Customer uses the System or
      portions thereof to execute transactions, produce reports or retrieve
      information from the OSI Database Model on a regular basis in a production
      non-test environment.

<PAGE>

1.3   Customer - shall mean that Financial Institution for which BISYS
      contractually provides either data processing Outsourcing Services using
      the System or acts as Facilities Manager of the System. BISYS shall
      provide a form copy of the BISYS Customer contract for Outsourcing or
      Facilities Management to OSI prior to entering into the first Customer
      contract.

1.4   Documentation - shall mean all user manuals, system guides and related
      publications for the OSI Proprietary Software and OSI Interface Software.

1.5   Enhancements - shall mean all upgrades, improvements, modifications and
      updates to the OSI Proprietary Software and OSI Interface Software made
      available to OSI customers.

1.6   Excluded Licensees - shall mean the Named Competitors and any outsourcing
      service providers shown on Schedule 1.6 hereto, which may be amended from
      time to time by BISYS with the written consent of OSI, which shall not be
      unreasonably withheld.

1.7   Facilities Manager; Facilities Management - shall mean the provider and
      operator of the System for the benefit of a Financial Institution on site
      at the Financial Institution's facilities; the activity of so providing
      and operating the System.

1.8   Financial Institution - shall mean all classes of banks, including those
      chartered under state or federal law, commercial banks, savings banks,
      mutual savings banks, thrift institutions, savings and loan associations
      and credit unions, and branches thereof.

1.9   Interface Software- shall mean that software, other than the OSI Interface
      Software, used to interface between and among the various application
      software included in the System and between and among peripherals for use
      in connection with the System.

1.10  License - shall mean the restricted non-transferable, non-assignable right
      to BISYS hereunder to use the OSI Proprietary Software and OSI Interface

      Software within its own data processing facilities as an Outsourcing
      Services Provider, and at the Customer's facilities as Facilities Manager,
      to provide data processing services to its Customers during the term of
      this Agreement. The license will be for use on the Designated Hardware and
      Operating Systems as defined in Schedule 17(g), as amended from time to
      time.

1.11  Named Competitors - Named competitors of BISYS shall mean Fiserv, EDS, M&I
      Data Services, NCR, Jack Henry, and ALLTEL/Systematics and successors
      thereto, and other competitors named in Schedule 1.6 Named competitors of
      OSI shall mean Phoenix International, Prologic, DCI, M&I Eastpoint, ITI
      Premier 11 and NCR Autobank and others as may be amended from time to
      time.

                                      2

<PAGE>

1.12  License Fee - shall mean the list price of the OSI Proprietary Software
      and OS Interface Software based on the price lists initially shown on the
      attached Schedule 1.12 for a similarly situated Financial Institution,
      except where OSI routinely discounts such list price in which case License
      Fee shall mean such discounted list price. OSI shall have the right to
      modify such License Fees annually at the beginning of each calendar year.

1.13  Master Copy - shall mean the object code form copy of the OSI Proprietary
      Software and OSI Interface Software and the data base code for the OSI
      Database Model to be delivered upon execution of this Agreement and
      thereafter from time to time as such code is enhanced and revised by OSI
      to reflect the most current versions made available by OSI for use with
      the System.

1.14  OSI Database Model - shall mean the database code and resulting database
      model developed by OSI and included in the System.

1.15  OSI Proprietary Software - means collectively, the version(s) of software
      as set forth in object code format, and database code format with respect
      to the OSI Database Model, together with the Documentation to be provided
      to BISYS by OSI, for use in connection with the System, including
      Enhancements to such software, database code and Documentation that may be
      provided by OSI to BISYS from time to time. As listed in Schedule 1.15.

1.16  OSI Interface Software- shall mean that software developed and owned by
      OSI, or licensed to OSI, used to interface between and among various
      application software and between and among peripherals for use in
      connection with the

      System, initially identified on Schedule 1.16 hereto, as may be amended
      from time to time by OSI by written notice to BISYS.

1.17  OSI Source Code - shall mean the source code in machine readable form for
      the OSI Proprietary Software and the OSI Interface Software owned by OSI.

1.18  Outsourcing Services - shall mean the outsourcing by Financial
      Institutions of data processing and other information processing services
      from a third party that provides such services remotely from its data
      center facilities.

1.19  System - shall mean OSI's The Complete Banking Solution client server,
      Oracle relational data base, Microsoft Windows NT environment system
      including the applicable OSI Proprietary Software, OSI Interface Software,
      OSI Database Model and required Third Party Software (TPS), as it may
      exist from time to time during the term of this Agreement for use on the
      Designated Hardware and Operating Systems as defined in Schedule 17(g), as
      amended from time to time. OSI shall provide a new Schedule 17(g) to BISYS
      to reflect the authorized Designated Hardware and Operating Systems as in
      effect from time to time.

                                      3

<PAGE>

1.20  Third Party Software (TPS) - shall mean the software developed and owned
      by an entity or person other than OSI used, or available for use, in
      connection with the System, as initially shown on Schedule 1.19.

2.    GRANT AND ACCEPTANCE OF SOFTWARE AND TRADEMARK LICENSE.

(a)   Subject to the terms and conditions of this Agreement, OSI hereby grants
to BISYS and BISYS hereby accepts from OSI the License and the concurrent right
to copy and market the System during the term of this Agreement as the exclusive
national Outsourcing provider and exclusive national Facilities Manager of the
System to Financial Institutions in the United States, unmodified from the
version(s) provided by OSI from time to time, in object code form only. BISYS is
prohibited from sub-licensing any of its rights under this Agreement other than
to a direct or indirect wholly owned subsidiary of The BISYS Group, Inc., the
ultimate parent company of BISYS Title to and ownership of the OSI Proprietary
Software, the OSI Interface Software owned by OSI and the OSI Database Model and
all Enhancements other than specifically provided for in Section 13, shall at
all times remain with OSI.

(b)   Subject to the terms and conditions of this Agreement, OSI hereby grants
to BISYS and BISYS hereby accepts from OSI a non-exclusive and non-transferable
right

to use the OSI trade names "OSI" or "Open Solutions Inc." and The Complete
Banking Solution trademark during the term of this Agreement for the sole
purpose of the promotion and marketing of the System. BISYS agrees to reproduce
OSI's trademarks and proprietary rights notices as necessary and appropriate on
the products and services provided by BISYS to the Customer that contain any OSI
trade secrets, trademarks or copyrights. Any and all OSI trademarks and trade
names which BISYS uses in connection with the rights granted hereunder are and
remain the exclusive property of OSI. Nothing herein shall prohibit or otherwise
limit BISYS from promoting and marketing the System as a product offered by its
TOTALPLUS(R) Division.

(c)   Within 90 days of the Effective Date, and subject to any confidentiality
limitations, OSI shall deliver to BISYS a schedule (Schedule 2c)and copies of
the documentation set forth on such Schedule 2(c) hereto. OSI represents and
warrants that all agreements granting to OSI a license or other right to use
and/or sub-license the TPS, a schedule of OSI Interface Software, and all other
software or intellectual property included in the System shall be set forth on
Schedule 2(c).

3.    DELIVERY OF CODE.

Upon execution of this Agreement, OSI shall deliver to BISYS a Master Copy of
the OSI Proprietary Software and OSI Interface Software in object code form, and
a Master Copy of the database code for the OSI Database Model, on disk. At all
times during the term of this Agreement, OSI shall deliver to BISYS within sixty
(60) days of a general software release to its customers new Master Copies of
the OSI Proprietary Software, OSI Interface Software and OSI Database Model as
designed for use on the Designated Hardware and

                                      4

<PAGE>

Operating Systems as defined in Schedule 17(g), so that BISYS has available
to it. the most current version of the System, including any and all
Enhancements, offered by OSI to its customers generally or made available by
OSI to its customers generally. As part of the License granted hereunder,
BISYS shall have the right to copy such Master Copy(ies) and Documentation
for use in connection with its Outsourcing Services and Facilities Management
services to Customers and for other purposes contemplated hereunder,
including archival, testing, support backup, disaster recovery, and
demonstration.

4.    EXCLUSIVITY.

(a)   Subject to the limitations set forth below, BISYS shall have the
exclusive national (i.e., United States and its territories) License to use
the System to provide Outsourcing Services, and exclusive national License to
provide and operate the System as Facilities Manager, to Financial
Institutions. The foregoing notwithstanding, during the term of this
Agreement, OSI may grant and have outstanding licenses (A) to use the System
as an Outsourcing Services provider to up to ten [10] local/regional
providers (not to include BISYS) at any one time, excluding the Excluded
Licensees; provided in each case that such license (i) is limited to a single
local/regional provider, i.e., not a consortium or other arrangement whereby
a number of providers have entered into a joint venture or partnering
arrangement, (and for the first 24 months following the Effective Date for
the states of California, Oregon, Washington, Nevada and Arizona a provider
in existence as of the Effective Date) with (X) annual revenues from its
existing data processing services at the time of such license grant equal to
or less than $20 million (Y) no more than 50 clients, and (Z) the main office
of each of such clients within the same state or adjacent states as such
provider, (ii) limits such license during the first 36 months to use of the
System for such provider's then existing clients plus up to an additional ten
new clients but not more than 50 clients and after such 36-month period to
such additional licenses as mutually agreed between OSI and such provider,
and (iii) contains restrictions limiting the use of such license upon a
Change of Control of such licensee involving a Named Competitor of BISYS to
those Financial Institutions for which the licensee is providing Outsourcing
Services as of the date of the Change of Control; and (B) to use the System
as an Outsourcing provider solely to credit unions to up to an additional ten
[10] local/regional providers (not to include BISYS) at any one time,
excluding the Excluded Licensees, provided in each case that such license (i)
is limited to a single local/regional provider, i.e., not a consortium or
other arrangement whereby a number of providers have entered into a joint
venture or partnering arrangement, with annual revenues from its existing
data processing services at the time of such license grant equal to or less
than $20 million, and (ii) contains restrictions limiting the use of such
license upon a Change of Control of such licensee involving a Named
Competitor of BISYS to those credit unions for which the licensee is
providing Outsourcing Services as of the date of the Change of Control (such
providers, individually, a "Permitted Licensee" and, collectively, the
"Permitted Licensees"). The provisions of the immediately preceding sentences
shall terminate

                                      5

<PAGE>

in the event that BISYS fails to reaffirm the Agreement within 180 days of a
Change of Control of BISYS. A breach of the terms of this subparagraph (a) by
OSI shall be deemed a material breach under the Agreement, subject to
provision for cure as provided in Section 21(b). OSI shall have the option to
convert the rights granted herein to nonexclusive in the event BISYS is
unable to achieve the following milestones for the periods indicated (or
cumulatively with prior periods) by written notice within 45 days of the end
of such period:

     Year 1           Year 2          Year 3           Year 4       Year 5

<TABLE>
<CAPTION>

<S>                                                <C>              <C>             <C>              <C>          <C>
Financial Institutions entering                    [**]             [**]            [**]             [**]         [**]
into New Outsourcing
Services or Facilities
Management Agreements with
BISYS

Conversions                                        [**]             [**]            [**]              -             -
Minimum Required License &                         [**]             [**]            [**]              -             -
Maintenance Fees pursuant to
Sections 8(a) and (b)
</TABLE>

Provided BISYS has satisfied the milestones for years 1 through 3 and that OSI
has satisfied its obligations pursuant to sections 7, 9, 10 and 11 hereof, then
BISYS agrees that the number of conversions for Year 4 and Year 5 shall be 22
and 25, respectively, and further agrees to a Minimum Required License &
Maintenance Fees pursuant to Sections 8(a) and (b) for Years 4 and 5 at amounts
to be mutually agreed that represent the retail sales rates and corresponding
fees of OSI in effect at such time. It is the intent of the parties to evaluate
the terms of this Agreement at the end of such five-year period, including the
extension thereof. The foregoing notwithstanding, OSI shall not have the right
to convert such rights to nonexclusive where BISYS has (i) entered into new
Outsourcing Services and/or Facilities Management agreements with Financial
Institutions representing at least [**] of the number required above for the
periods indicated and (ii) achieved or prepaid the above required minimum
License and Maintenance Fees within 30 days of the end of each annual period.
Provided OSI is not in breach of its obligations under this Agreement, BISYS
shall pay the minimum required fees for the periods indicated above to OSI
(i.e., a total of [**]) in consideration of the exclusivity agreement. Any
amounts paid by BISYS to OSI to satisfy the foregoing minimum obligations and
not otherwise due pursuant to Sections 8(a) and 8(b) hereof shall be treated as
prepaid License and Maintenance Fees under such Sections and shall be applied as
a credit against future amounts due and owing thereunder.

          Confidential portions omitted and filed separately with the
        Securities and Exchange Commission. Asterisks denote omissions.

                                      6

<PAGE>

(b)   From the date hereof, BISYS shall be the preferred Facilities Manager for
a licensed System installed at a Financial Institution's facilities (i.e., where
the Financial Institution has been granted a license to use the System in-house
at its facilities and elects to seek a Facilities Manager to operate the
System). Notwithstanding the foregoing, no provision in this agreement shall be
construed as prohibiting a Financial Institution licensed to use the System from
independently retaining a Named Competitor or Excluded Licensee to serve as its
Facilities Manager.

(c)   OSI represents and warrants as of the Effective Date that it has not
granted any license for use of the System to provide Outsourcing Services or to
serve as Facilities Manager to any entity other than BISYS. Unless specifically
prohibited by contract, OSI will provide written notice to BISYS upon the grant
of any license permitted pursuant to the foregoing subparagraph (a). In
addition, OSI agrees to provide an annual certification from its independent
auditors on or before the date it files such financial statements with the
Securities and Exchange Commission and otherwise the 120th day following the end
of each of its fiscal years, in conjunction with issuance of its annual
financial statements, identifying all license grants made pursuant to
subparagraph (a) in effect as of the end of such fiscal year.

(d)   MOST FAVORED CUSTOMER. OSI represents and warrants that all prices,
warranties, benefits and other terms being provided hereunder are equivalent to
or better than the terms being offered by OSI to other similarly situated
entities under similar circumstances. If, during the term of this Agreement,
OSI enters into a licensing agreement with a Permitted Licensee pursuant to and
in  accordance with subparagraph (a) hereof providing such entity with more
favorable terms, then this Agreement will be deemed appropriately amended to
provide such terms to BISYS, and OSI shall promptly provide BISYS with any
refunds or credits thereby created; if applicable, calculated from the
affective date of such other agreement(s).

(e)   EQUITY INVESTMENT. As a condition of the grant of exclusivity and as a
condition to any license grant by OSI to a Permitted Licensee hereunder, BISYS
and OSI shall complete the documentation necessary for BISYS to make, and BISYS
shall promptly thereupon make, the equity investment in OSI described in
Schedule 4(e) to this Agreement.

(f)   REASONABLE COMMERCIAL EFFORTS & NON-COMPETE. BISYS shall use reasonable
commercial efforts in seeking agreements to provide Outsourcing Services and
services as Facilities Manager utilizing the System. Based on OSI's efforts
pursuant to Sections 7, 9, 10 and 11 hereunder, BISYS would expect to convert
an existing T0TALPLUS(TM) system host based client to the System within 12
months of the Effective Date. Successful achievement of this conversion
within the expected time frame is expected to facilitate the development and
refinement of related conversion programs, completion of required development
and the integration into the System of the BISYS provided "wrap-around"
products and services identified in the following Section 5. BISYS agrees to
provide an annual certification from its independent auditors, on or before
such time as it files its

                                      7

<PAGE>

annual financial statements with the Securities and Exchange Commission,
certifying as to the BISYS Customers that entered into Outsourcing Services
or Facilities Management agreements with BISYS during the prior fiscal year.
BISYS recognizes that it is in the parties' best interest that the reputation
of the System be upheld and, accordingly, it shall make commercially
reasonable efforts to provide quality sales and service to its Customers.
Notwithstanding the above and without limiting BISYS right to provide its
host-based T0TALPLUS(R) system outsourcing solution, BISYS shall utilize OSI
as the exclusive provider of client/server core data processing for BISYS
during the term of this agreement. This includes development of a
client/server core processing system by BISYS or the purchase of another
product from an OSI Named Competitor as identified in Section 1.11. A breach
of the foregoing shall be deemed a material breach under the Agreement. BISYS
shall have the opportunity to cure any such breach upon notice as provided in
Section 21 herein.

5.    PREFERRED PROVIDER.

OSI shall include BISYS, and its affiliates, as a recommended preferred provider
to deliver the following additional wrap-around services to OSI direct customers
of the System and as applicable to prospective customers:

(a)   ATM/debit card processing.
(b)   Imaging services (including check and remittance imaging) through
      Document Solutions, Inc., as long as this company is owned by BISYS.
(c)   Tele-services (e.g. loan and mortgage information and application
      processes via telecommunication [phone/internet]) through BISYS
      Creative Solutions, Inc. as long as this company is owned by BISYS.
(d)   LAN/WAN services (e.g. design, implementation, consulting, program
      services, server, workstation and network monitoring).

Unless inappropriate, OSI marketing and promotional material identifying
wrap-around services shall identify BISYS as a recommended preferred provider of
the foregoing services.

6.    SALES AND MARKETING.

(a)   TRAINING. OSI shall provide four weeks advance notice of its regularly
scheduled and periodic special internal sales training programs as well as any
other internal training programs for sales and product support, customer
service personnel and systems and software engineers. BISYS shall have the
right to include a reasonable number of its like employees in such training
programs, subject to class-size limitations, on a no-fee basis. BISYS shall be
responsible for the costs of all training materials and other out-of-pocket
costs and expenses directly or indirectly resulting from the participation of
its employees in such training programs as well as all travel and related
costs.

          Confidential portions omitted and filed separately with the
        Securities and Exchange Commission. Asterisks denote omissions.

                                      8

<PAGE>

(b)   TRADE SHOWS. OSI and BISYS shall provide each other with advance notice of
their scheduled participation or intent to participate in a trade show so that
the parties may jointly participate if so desired.

(c)   DEMONSTRATION. Upon execution of this Agreement, OSI shall provide to
BISYS a copy of OSI's demonstration program for sales and demonstration purposes
and shall provide BISYS with the most current version of such demonstration
program as it may exist from time to time. Unless inappropriate, OSI
demonstration systems demonstrating "wrap-around" services, as described in
Section 5 hereof, shall demonstrate the "wrap around" services offered by BISYS,

(d)   MARKETING MATERIALS. BISYS and OSI shall, promptly following execution of
this Agreement, develop joint marketing material and standard disclosure
relating to each other, the alliance formed hereby and the products and services
to be offered hereunder, that may be used by both parties on an ongoing
unrestricted basis until otherwise agreed. Such material may also include a new
trademark or logo to reflect the alliance. Prior to the development of such
materials, neither party may publish and distribute any materials using the
trade marks or trade names of the other without the prior written consent of the
other, which shall not be unreasonably withheld. OSI will have final approval of
all marketing materials that represent the material functional aspects of the
System. The parties also expect to engage in certain joint sales and marketing
efforts as mutually agreed. Notwithstanding the foregoing, each party reserves
the right to continue to produce non-referencing marketing materials for their
independent use.

(e)   SALES SUPPORT. OSI agrees to participate directly in any sales and
marketing presentations to potential Customers and to otherwise be actively
involved in providing sales support to BISYS through the period until BISYS has
entered into Outsourcing Services agreements or Facilities Management services
agreements for its first five Customers. Thereafter, upon BISYS' reasonable
request, and subject to availability OSI shall provide appropriate sales support
to assist BISYS in its efforts to execute additional Outsourcing Services
agreement employing the System with potential Customers. BISYS shall be
responsible for the reasonable out-of-pocket costs incurred by OSI for such
support.

(f)   LEAD REGISTRATION AND REFERRAL. Where either BISYS or OSI determines
after a customer sales presentation or other qualification process that the
customer has a legitimate interest in the System being provided in the mode
offered by the other (i.e., in an Outsourcing Services or Facilities
Management mode by an OSI customer prospect or in an in-house mode by a BISYS
customer prospect), such party ("Referring Party") shall provide a written
lead registration and referral notice to the other identifying the potential
customer and contact person. The party receiving the notice shall have the
right to call upon that customer either separately or together with the
Referring Party to close the sale. The parties recognize that they may
continue in competition for such business opportunity. Where the party
receiving the notice (i) has not made a sales presentation to the identified
customer within the six-month period prior to receipt of such notice and (ii)

                                      9

<PAGE>

within six months after the notice enters into an agreement with such
customer to provide the System, the Referring Party shall be entitled to the
Referral Fee described in Section 8 hereof.

Other than the lead registration and referral process described in the foregoing
paragraph, neither party shall have an obligation to disclose to the other nor
shall either party be entitled to information relating to the potential
prospects of the other.

(g)   NOTICE OF AGREEMENTS WITH CUSTOMERS. BISYS shall provide written notice
of a new Financial Institution client using the System to OSI within 30 days of
the execution of an agreement with such new client.

(h)   PRESS RELEASES. The parties expect to issue a mutually agreed upon joint
press release announcing the alliance formed under this Agreement at the
appropriate time. Prior to such public announcement, neither party shall make
any public disclosure of the existence or terms of this Agreement without the
prior written consent of the other.

7.    CONVERSION AND PRODUCTION SUPPORT.

OSI shall provide the Conversion, programming, operations and training resources
necessary to convert the first three Outsourcing Services Customers in
cooperation with BISYS who shall retain control of the Customer interface. In
consideration of such support, BISYS shall reimburse OSI at cost for reasonable
expenses it incurs in connection therewith. OSI shall prepare the Conversion
plans and provide a copy to BISYS. BISYS shall participate in the Conversions as
a training mechanism and shall be responsible for all subsequent Conversions. At
BISYS' reasonable request, and subject to availability, OSI shall provide
assistance for subsequent Conversions and related production. BISYS shall pay
OSI for such subsequent support services based on OSI's time and materials [**].
In addition, OSI shall provide the technical and operations support required to
establish a production environment at BISYS' initial Outsourcing Services
production facility for the System. At a minimum, OSI shall provide the support
required to deliver production for the initial Conversion from the date of such
Conversion through the 30 days post-Conversion. BISYS shall reimburse OSI its
reasonable out-of-pocket costs for such initial production support. Thereafter,
upon BISYS' request, OSI shall provide additional production/technical support
following such 30-day period and for additional Conversions, and in
consideration thereof BISYS shall pay OSI its time and materials [**].

8.    FEES.

(a)   LICENSE FEES:

          Confidential portions omitted and filed separately with the
        Securities and Exchange Commission. Asterisks denote omissions.

                                      10

<PAGE>

i)    OUTSOURCING. Upon successful completion of the Conversion of a Customer
to the System pursuant to an Outsourcing Services agreement, OSI shall be
entitled to a license fee equal to thirty percent (30%) of the OSI License
Fee payable by an OSI direct customer similarly situated as of the effective
date of such Outsourcing Services agreement. Such license fee shall be
payable in equal monthly installments over the initial term of the
Outsourcing Services agreement, not to exceed three years during the first
three years of this Agreement and, thereafter, not to exceed five years.
Payments shall commence on the first day of the month following the
Conversion Date and each month thereafter until paid in full unless the
Outsourcing Services agreement shall earlier terminate and BISYS is no longer
an Outsourcing Services provider or Facilities Manager to such Customer.
Where such agreement is renewed for an additional renewal term, OSI shall be
entitled to an additional license fee equal to thirty percent (30%) of the
difference, if any, between the License Fee payable by a similarly situated
Financial Institution as of the date of such renewal and the License Fee
payable by a similarly situated Financial Institution as of the date of the
agreement. Such additional license fee, if any, shall be payable by BISYS
over the renewal term of the agreement, not to exceed five years. Payments
shall commence on the first day of each month following the renewal date and
thereafter until paid in full unless the agreement shall earlier terminate
and BISYS is no longer an Outsourcing Services provider or Facilities Manager
to such Customer.

ii)   FACILITIES MANAGEMENT. Upon successful completion of the Conversion to the
System pursuant to a Facilities Management agreement, OSI shall be entitled to
a license fee equal to [**] of the OSI License Fee payable by an OSI direct
customer similarly situated to such Customer as of the effective date of such
Facilities Management agreement. Such license fee shall be payable in equal
monthly installments over the initial term of the Facilities Management
agreement, not to exceed three years during the first three years of this
Agreement and, thereafter, not to exceed five years. Payments shall commence on
the first day of each month following the Conversion Date and thereafter until
paid in full unless the Facilities Management agreement shall earlier terminate
and BISYS is no longer an Outsourcing Services provider or Facilities Manager
to such Customer. Where such agreement is renewed for an additional renewal
term, OSI shall be entitled to an additional license fee equal to [**] of the
difference, if any, between the License Fee payable by a similarly situated
Financial Institution as of the date of such renewal and the License Fee
payable by a similarly situated Financial Institution as of the date of the
agreement. Such additional license fee, if any, shall be payable by BISYS over
the renewal term of the agreement, not to exceed five years. Payments shall
commence on the first day of each month following the renewal date and
thereafter until paid in full unless the agreement shall earlier terminate and
BISYS is no longer an Outsourcing Services provider or Facilities Manager to
such Customer.

iii)  TERMINATION. In the event of termination of a Outsourcing Services
agreement or Facilities Management agreement prior to the expiration of its
initial or renewal term and the termination of the corresponding license fee,
BISYS shall pay OSI in addition to the normal ongoing fees due until
termination, a termination fee equal to the lesser of the

          Confidential portions omitted and filed separately with the
        Securities and Exchange Commission. Asterisks denote omissions.

                                      11

<PAGE>

amount representing (A) the number of monthly installments remaining and (B)
the number of monthly installments set forth below based on the number of
months remaining in the initial or renewal term of such Outsourcing Services
or Facilities Management agreement:

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
    Months Remaining in Term                 Monthly Installments Payable
--------------------------------------------------------------------------------
<S>                                          <C>
    36+                                      12
--------------------------------------------------------------------------------
 24-35                                        6
--------------------------------------------------------------------------------
 12-23                                        3
--------------------------------------------------------------------------------
</TABLE>

No further payment obligations in respect of such license fee shall be due.

(b)   MAINTENANCE FEE. Upon Conversion to the System, OSI shall be entitled to
an annual maintenance fee during the initial term of the BISYS agreement with a
Customer equal to a percentage of the OSI License Fee payable by an OSI direct
customer similarly situated as of the date of the agreement as follows:

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
    Year                                     Percentage
--------------------------------------------------------------------------------
 <S>                                        <C>
 1 and 2                                     5%
--------------------------------------------------------------------------------
       3                                     7%
--------------------------------------------------------------------------------
       4+                                   10%
--------------------------------------------------------------------------------
</TABLE>

Such annual maintenance fee shall be payable in equal monthly installments
commencing on the first day of each month following the Conversion Date through
the initial term or earlier termination of the agreement between BISYS and such
Customer. During any renewal term of the BISYS agreement with a Customer OSI
shall be entitled to an annual maintenance fee equal to 10% of the License Fee
payable by a similarly situated Financial Institution as of the date of such
renewal Such annual maintenance fee shall be payable in equal monthly
installments commencing on the first day of each month following the renewal
date through the renewal term or earlier termination of such agreement.

(c)   REFERRAL FEE. Upon the conversion of a System based on the lead
registration and referral process described in Section 6(f) hereof, the party
receiving the benefit of the referral shall pay the Referring Party a
one-time referral fee equal to [**] of the License Fee payable by a similarly
situated Financial Institution, payable within 30 days of the conversion date
of the System. To the extent the referral was provided by a sales

          Confidential portions omitted and filed separately with the
        Securities and Exchange Commission. Asterisks denote omissions.

                                      12

<PAGE>

representative customarily entitled to commissions, it is expected that the
Referring Party shall, subject to its internal commission policies with
respect to entitlement to commissions, pay such referral fee to such sales
representative.

(d)   PREFERRED VENDOR FEES. Where through OSI's efforts BISYS secures an
agreement to provide the services set forth in Section 5 hereof to OSI direct
customers of the System, OSI shall be entitled to receive the following fees
based on such agreements during the period in which both this Agreement and such
agreement to provide such services are in effect:

     [**]                                    [**] of annual revenue
     [**]                                    [**] of initial license fee
     [**]                                    [**] of annual revenue
     [**]                                    [**] of annual revenue

Such fees, other than the fees related to [**], shall be payable monthly by the
end of the month based on the payment of the associated revenues by the customer
to BISYS in the preceding month. A summary report setting forth the calculation
of the fees shall accompany such monthly payment. The fees relating to imaging
services shall be paid within 30 days of receipt of the payment to BISYS of such
initial license fee.

9.    SYSTEM SUPPORT.

Irrespective of the termination of this Agreement, so long as any Outsourcing
Services or Facilities Management agreement between BISYS and a Customer
employing the System shall be in effect, OSI shall be obligated to provide
ongoing maintenance support to BISYS for the OSI Proprietary Software and the
OSI Interface Software as provided in Attachment 1 hereto

Notwithstanding OSI's support provided under Attachment 1, BISYS agrees that it
shall provide the first line of product and technical help desk support to its
Customers. This shall include all of the day to day issues of functionality,
error correction and customer service. In no instance shall OSI provide direct
support to BISYS Customers. Said OSI services shall be provided seven (7) days
per week, twenty four (24) hours per day for Priority A errors and during normal
working hours for other errors. OSI shall furnish the names and telephone
numbers of its personnel for both normal working hours and other times (e.g.,
holidays, weekends, etc.). BISYS shall provide the names and telephone numbers
of the designated BISYS personnel assigned to work with OSI.

BISYS agrees to use its best efforts to minimize the number of support contacts
that it makes with OSI after the first five (5) outsourcing Services or
Facilities Management Services installations made under this Agreement.

10.   PRODUCT DEVELOPMENT.

          Confidential portions omitted and filed separately with the
        Securities and Exchange Commission. Asterisks denote omissions.

                                      13

<PAGE>

OSI shall use reasonable commercial efforts to maintain the System competitive
in its marketplace. A breach of the foregoing shall be deemed a material breach
under the Agreement. OSI shall have the opportunity to cure any such breach
upon notice as provided in Section 21 herein. Appropriate representatives of
OSI and BISYS shall meet at least semi-annually to discuss and review OSI
product development plans and for BISYS to provide input based on competitive
feature and function requirements. At any time during the term of this
Agreement, BISYS shall have the right to request certain development efforts
related to the System. To the extent it is mutually agreed that such
development efforts enhance the overall value, marketability or competitive
position of the system, such efforts shall be funded by OSI. BISYS shall be
given the opportunity to contribute to such efforts either through funding
and/or contribution of application specifications and/or certain technology to
expedite delivery or to address certain customer requirements that may not be
considered to significantly enhance the overall value, marketability or
competitive value of the system. In the event that BISYS develops and offers to
OSI an application mutually agreed to have value to the System, BISYS shall
contribute such application to OSI in consideration of a payment equal to the
lesser of 25% of the development costs of BISYS and $250,000. Payment to BISYS
for any such development shall be made quarterly over a three year period. All
products, derivative works or other intellectual property resulting from such
development efforts and incorporated into the System shall, as incorporated, be
the property of OSI regardless of the manner of funding and regardless of
whether made by OSI or BISYS. As the developer of the System, OSI acknowledges
that it will from time to time engage in certain software and hardware
benchmarking activities. OSI shall provide BISYS with written copies of the
results of all such benchmarking activities within 30 days of any such
benchmarking.

The parties recognize that BISYS has an interest in evaluating the technical
feasibility of integrating certain OSI System modules as replacements and/or
upgrades to its existing mainframe modules or otherwise developing linkages
between the OSI System modules and its mainframe modules. OSI agrees to support
and participate in any such feasibility evaluations which are expected to
include an evaluation of the integration of OSI's client server module to the
BISYS mainframe environment and/or use of the OSI System application code at the
BISYS mainframe level.

OSI, recognizing that modifications to the System designed to enhance its
performance in a multi Financial Institution processing environment will be
beneficial I to BISYS and to the Permitted Licensees and are fundamental to
such persons serving as Outsourcing providers, shall modify the System
accordingly to attain the anticipated benefits within a mutually agreeable
time-frame provided that BISYS pays for 75% of the required investment. BISYS
shall recover from OSI up to one-third of such investment(s) (i.e., 25% of the
total investment such that if fully recovered OSI and BISYS shall have each
invested 50% of the required investment) in the following manner:

(a)   upon the grant of a license to a Permitted Licensee, a credit toward
License and Maintenance Fees payable pursuant to Sections 8(a) and (b) hereof
equal to the total investment made by BISYS multiplied by a fraction the
numerator of which is the number

                                      14

<PAGE>

of clients for which the Permitted Licensee provides outsourcing services and
the denominator is the number of clients for which BISYS provides outsourcing
services; and

(b)   a credit of 50% toward any License and Maintenance Fees payable in excess
of the minimum required License and Maintenance Fees pursuant to Sections 8(a)
and (b) hereof as set forth in the table in Section 4(a) hereof.

OSI reserves all right to determine the scope and nature of any and all
development activities that will be performed to the System regardless of the
source of funding.

11.   CUSTOMER REQUIREMENTS.

OSI recognizes that BISYS may from time to time be requested to provide
additional features, functionality or interfaces with respect to the System in
order to secure a new, or retain an existing, Customer. OSI agrees to use
reasonable commercial efforts to deliver a feasibility assessment with respect
to such additional features, functionality or interfaces in writing within 30
days of receipt of a written request, including but not limited to an assessment
of the time period and resources necessary for, and remuneration to OSI to
satisfy such requirements. Based on such assessment, OSI and BISYS by mutual
agreement shall determine the appropriate course of action to address the
Customer requirements and, if appropriate, to set forth the specifications,
deliverables and costs in a writing mutually agreed and signed by OSI and BISYS.
OSI shall use commercially reasonable efforts to satisfy the requirements set
forth in such written agreement within the agreed time periods. BISYS shall not
make any contractual obligations with respect to such Customer requirements
except as specifically approved in writing by OSI.

12.   THIRD PARTY PRODUCTS.

Subject to limitations with the agreements between OSI and third parties and
applicable law, OS shall split with BISYS on a 50/50 basis all net profit from
the sale of certain third party products, including but not limited to the TPS,
licensed or sold in conjunction with the System to support outsourcing Services
and Facilities Management services provided by BISYS.

13.   SOURCE CODE. As a condition to the effectiveness of the Agreement, OSI
agrees to enter into the standard escrow agreement providing BISYS with certain
rights to the source code for the OSI Proprietary Software and the OSI Interface
Software owned by OSI as set forth as Attachment 2 hereto, and to provide
current versions of such Software to the Escrow Agent as provided in such Escrow
Agreement, with the following additional release conditions:

(a)   OSI's failure to take reasonable commercial efforts to cure its material
breach within ninety (90) days of receipt of written notice of such breach;

                                      15

<PAGE>

(b)   OSI (i) becomes or is declared insolvent or bankrupt, (ii) becomes the
subject of, and fails to cause its dismissal within 180 days, any proceedings
relating to its liquidation, insolvency or for the appointment of a receiver or
similar officer for it, (iii) makes an assignment for the benefit of all or
substantially all of its creditors, or (iv) enters into an agreement for the
composition, extension, or readjustment of all or substantially all of its
obligations; or

(c)   written notice of BISYS at any time during the 180 day period following a
Change of Control of OSI.

Emergency Access to Source Code: BISYS shall have immediate, temporary access to
the OSI Source Code upon written request to OSI in the event that a Customer
Emergency occurs. Such access shall last until the condition(s) requiring such
access have ceased and thereupon BISYS shall promptly return the deposit
materials to the Escrow Agent, together with a notification of the actions taken
and due documentation of all modifications, if any, made to the OSI Source Code.

Definitions: For purposes of this Section, the following definitions shall
apply:

Customer Emergency: BISYS has received notification from a Customer clearly and
convincingly demonstrating that, unless immediate, emergency corrective
modifications are made to the OSI Proprietary Software or to the OSI Interface
Software, and OSI is either incapable or refuses to make such corrective
modification, the Customer will be unable to operate in a commercially
reasonable capacity (which capacity shall include temporary off-line operations)
and material damages will be incurred by the Customer as a result thereof.

BISYS RIGHTS TO OSI SOURCE CODE UPON CHANGE OF CONTROL OF OSI. OSI shall
promptly deliver to BISYS a machine readable copy of the then current version of
the OSI Source Code upon a Change of Control of OSI. Thereafter OSI shall
deliver a new machine readable copy of the OSI Source Code within ninety (90)
days following a general release to OSI customers of any Enhancements or new
versions of the OSI Proprietary Software or OSI Interface Software developed by
OSI unless and until BISYS elects not to terminate this Agreement pursuant to
Section 21 (b)(iv) hereof, in which case BISYS shall return all copies of the
OSI Source Code to OSI or its successor and continue with the Agreement as
originally determined. In the event that BISYS chooses to terminate this
Agreement as provided in Section 21 (b)(iv) due to a Change of Control of OSI,
BISYS shall have the right to use the OSI Source Code to provide Outsourcing
Services and Facilities Management services to BISYS Customers and to maintain
and support such services, shall be free to develop additional Enhancements to
such OSI Source Code for use by BISYS Customers. It is understood that any
Enhancements, modifications or changes made by BISYS to the OSI Source Code
under this section shall be used solely for the purposes described in the
previous sentence. BISYS shall have ownership rights to only the Enhancements
made by BISYS allowable under this Section 13. OSI shall have no obligation to

                                      16

<PAGE>

support and maintain any Enhancements made by BISYS under the conditions set
forth in Section 21(b)(iv).

14.   BOARD SEAT.

During the term of this Agreement, BISYS shall be entitled to nominate a
candidate to the Board of Directors of OSI, or any parent or holding company
that may hereafter exist and OSI agrees to take steps necessary to cause the
nomination of the person so nominated.

15.   EMPLOYEES.

During the term of this Agreement, each party will refrain from seeking to hire
the employees of the other and, for the one year following termination of
employment, terminated employees of the other without the prior written consent
of the other.

16.   CONFIDENTIALITY.

OSI represents that the System contains trade secrets and BISYS agrees to treat
the OSI Proprietary Software, OSI Database model and OSI Interface Software as
OSI's confidential information and will not disassemble, de-compile or reverse
engineer the System. Any breach or attempted breach of the foregoing sentence
shall be considered a material breach and subject to cure as provided in Section
21 herein.

The parties further acknowledge that in the course of performing their
respective responsibilities under this Agreement, each may be exposed to or
acquire information which is proprietary to or confidential to the other party
or its clients, including computer programs, software tools, protocols, system
benchmarks, business and marketing plans, product descriptions, development
schedules, product positioning, choices of product names and financial data. All
such confidential and proprietary information, in whatever form, are hereinafter
collectively referred to as "Confidential Information".

Except as otherwise permitted hereunder, the parties agree to hold such
information in strict confidence and not to copy, reproduce, sell, assign,
license, market, transfer, give or otherwise disclose such information to third
parties or to use such information for any purposes whatsoever, without the
express written permission of the other party and to advise each of their
employees, agents and representatives of their obligations to keep such
information confidential.

The parties shall use their reasonable efforts to assist each other in
identifying and preventing any unauthorized use or disclosure of any
Confidential Information. Without limitation of the foregoing, the parties
shall use reasonable efforts to advise each other immediately in the event
that either learns or has reason to believe that any person who has had
access to Confidential Information has violated or intends to violate the
terms of

                                      17

<PAGE>

this provision, and will reasonably cooperate in seeking injunctive relief
against any such person.

"Confidential Information" shall not include information that: (i) is, as of the
time of its disclosure, or thereafter becomes part of the public domain through
a source other than the receiving party; (ii) was known to the receiving party
as of the time of its disclosure; (iii) is independently developed by the
receiving party; (iv) is subsequently learned from a third party not under a
confidentiality obligation to the providing party; or (v) is required to be
disclosed pursuant to court order or government authority, whereupon the
receiving party shall provide notice to the other party prior to such
disclosure.

17.   WARRANTIES.

(a)   OWNERSHIP. OSI represents and warrants that it has the sole ownership of
and/or the right to license and sub-license the OSI Proprietary Software and the
OSI Interface Software as contemplated by this Agreement and has the full power
to grant the rights granted herein without the consent of any other person or
entity.

(b)   PERFORMANCE. OSI represents, warrants and covenants that the media on
which the OSI Proprietary Software and OSI Interface Software is recorded and
delivered to BISYS hereunder is free from defects in material and workmanship
under normal use and service for a period of ninety (90) days from delivery. OSI
agrees to replace any

defective media upon return to OSI. OSI represents and warrants that it has
taken all steps necessary to test the OSI Proprietary Software and the OSI
Interface Software for Disabling Code (as defined herein) and to eliminate
Disabling Code from the OSI Proprietary Software and the OSI Interface Software.
OSI warrants that the OSI Proprietary Software and the OSI Interface Software
will be free of Disabling Code as of the date of delivery by OSI to BISYS.

OSI will continue to take such steps with respect to all Enhancements made by
OSI to keep the same and the OSI Proprietary Software and OSI Interface Software
free of Disabling Code. Disabling Code shall mean computer instructions that:

a.    Alter, destroy or inhibit the OSI Proprietary Software, OSI Interface
Software or BISYS' processing environment, including without limitation, other
programs, data storage, computer libraries, and computer and communications
equipment;

b.    without functional purpose, self-replicate without manual intervention; or

c.    purport to perform a meaningful function but which actually perform either
a destructive or harmful function, or perform no meaningful function.

OSI agrees that it will maintain a master copy of the OSI Proprietary Software
and the OSI Interface Software and all Enhancements made by OSI thereto, and
will take such steps as are necessary to keep the same free of Disabling Code.

                                      18

<PAGE>

(c)   DISCLAIMER. THESE EXPRESS WARRANTIES TAKE THE PLACE OF AND SUPERSEDE ALL
OTHER WARRANTIES, EXPRESS OR IMPLIED AND WHETHER OF MERCHANTABILITY, FITNESS FOR
A PARTICULAR PURPOSE OR OTHERWISE, ALL OF WHICH ARE HEREBY EXPRESSLY DISCLAIMED.
EXCEPT AS EXPRESSLY PROVIDED HEREIN, OSI DOES NOT WARRANT, GUARANTEE, OR MAKE
ANY REPRESENTATIONS REGARDING THE USE, OR THE RESULTS OF THE USE, OF THE OSI
PROPRIETARY SOFTWARE, OSI INTERFACE SOFTWARE OR DOCUMENTATION. OSI DOES NOT
WARRANT THAT THE OPERATIONS OF THE OSI PROPRIETARY SOFTWARE OR OSI INTERFACE
SOFTWARE WILL BE UNINTERRUPTED OR ERROR FREE.

BISYS understands that OSI is not responsible for and will have no liability for
and does not warrant hardware, software, or other items or any services provided
by any persons other than OSI. BISYS will also indemnify and hold OSI harmless
from any misrepresentations made by BISYS or its representatives as to the
features, functions and capabilities of the System. Failure of BISYS to
indemnify or hold OSI harmless from any such misrepresentation shall be
considered a material breach of this Agreement.

(d)   LIMITATION OF LIABILITY. EXCEPT FOR OSI'S INDEMNITY OBLIGATIONS UNDER
SECTION 19 (RELATING TO INTELLECTUAL PROPERTY INFRINGEMENTS), A BREACH OF ITS
CONFIDENTIALITY OBLIGATIONS UNDER SECTION 16, ANY LIABILITY OSI MAY HAVE FOR
PERSONAL INJURY OR DAMAGE OR DESTRUCTION OF REAL OR TANGIBLE PERSONAL
PROPERTY, OR LIABILITY RESULTING FROM OSI'S GROSS NEGLIGENCE OR WILLFUL
MISCONDUCT, OSI SHALL NOT BE LIABLE TO BISYS FOR ANY INDIRECT, SPECIAL,
INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OR LOST PROFITS OR REVENUES OUT
OF THIS AGREEMENT OR IN ANY WAY RELATED TO THIS AGREEMENT, EVEN IF OSI KNOWS,
SHOULD HAVE KNOWN, OR HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

EXCEPT FOR A BREACH OF ITS CONFIDENTIALITY OBLIGATIONS UNDER SECTION 16, OR
LIABILITY RESULTING FROM ITS GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, BISYS SHALL
NOT BE LIABLE TO OSI FOR ANY INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL
DAMAGES OR LOST PROFITS OR REVENUES ARISING OUT OF THIS AGREEMENT OR IN ANY WAY
RELATED TO THIS AGREEMENT, EVEN IF BISYS KNOWS, SHOULD HAVE KNOWN, OR HAS BEEN
ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

(e)   COMPLIANCE WITH LAWS AND REGULATIONS. OSI represents that for a period of
ninety (90) days after the date of execution of this Agreement and during any
period during which BISYS is receiving support in accordance with the terms and
conditions hereof, the OSI Proprietary Software and the OSI Interface Software
shall:

a.    Function and perform substantially in accordance with the Documentation
and specifications.

b.    Operate on the Designated Hardware consistent with the specifications
and Documentation.

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<PAGE>

c.    Process BISYS' Customer's data in accordance with the minimum data
processing standards promulgated by federal banking agencies which regulate
BISYS' Customers. If BISYS discovers that either the OSI Proprietary Software or
OSI Interface Software does not meet the criteria set forth above, BISYS shall
notify OSI and OSI shall promptly take commercially reasonable steps in
accordance with support terms and conditions to bring the OSI Proprietary
Software or OSI Interface Software into compliance with the criteria set forth
above.

(f)   YEAR 2000 COMPLIANCE. OSI represents that the OSI Proprietary Software and
the OSI Interface Software to be utilized by BISYS and its Customers corresponds
with standards set forth in Attachment 3 to this Agreement, taking into
consideration the appropriate governmental regulatory agencies' requirements
regarding the year 2000. Upon BISYS' written request given after October 1,
1998, BISYS, at its own cost, may retain the services of a third party auditor
to review and evaluate, at a time mutually agreed, the System for the sole
purpose of determining whether the System is able to perform Year 2000
processing.

(g)   COMPATIBILITY WITH DESIGNATED HARDWARE. The System, and each module and
function thereof, will be capable of operating in a commercially reasonable
manner on the Designated Hardware and operating environment specified in
Schedule 17(g).

18.   [THERE IS NO SECTION 18.]

19.   INDEMNIFICATION.

(a)   INDEMNIFICATION BY OSI. OSI shall defend, indemnify and hold BISYS and its
officers, directors, agents and employees harmless from and against any and all
claims, suits, damages, liabilities, costs and expenses (including reasonable
attorney's fees) arising out of or resulting from any claim that BISYS' use of
the OSI Proprietary Software or OSI Interface Software infringes a presently
existing United States patent, copyright, or trademark or misappropriates a
trade secret of any third party, provided OSI is:

i)    promptly notified of any and all threats, claims and proceedings related
thereto,
ii)   given reasonable assistance (at OSI's sole cost and expense), and
iii)  given the opportunity to assume sole control over the defense and all
negotiations for a settlement or compromise.

OSI shall not, however, enter into any settlement without BISYS' prior written
consent, which shall not be unreasonably withheld, if such settlement impairs
any material right of BISYS under the Agreement.

Notwithstanding anything to the contrary contained herein, BISYS shall have the
right to defend and settle, at OSI's expense, against any such infringement or
misappropriation claim in the event that OSI fails to assume or reasonably
pursue such defense.

In the event that the OSI Proprietary Software or OSI Interface Software, or any
portion thereof becomes the subject of a claim of infringement or
misappropriation, OSI may, at

                                      20

<PAGE>

its option and its expense, take any of the following steps so that BISYS'
use is not subject to any claim of infringement or misappropriation and BISYS
is provided with functionally equivalent software to the reasonable
satisfaction of BISYS, provided that BISYS' use of the OSI Proprietary
Software or OSI Interface Software conforms with the provisions of the
Agreement:

i)    procure for BISYS the right to continue using the OSI Proprietary Software
or OSI Interface Software; or
ii)   replace or modify the infringing portion of the OSI Proprietary Software
or OSI Interface Software.

The foregoing obligations of OSI do not apply with respect to software and any
other products or portions or components thereof.

i)    which are not the latest available release supplied by OSI to BISYS,
ii)   which are modified by BISYS after shipment by OSI, if the alleged
infringement relates to such modification, unless OSI has consented to the
modification in writing, or such modifications is otherwise authorized,
permitted or provided for under this Agreement, or
iii)  which are combined with other products, processes, hardware or materials
where the alleged infringement relates to such combination, unless OSI has
consented in writing to such combination or such combination is otherwise
authorized, permitted or provided for under this Agreement.

THE FOREGOING STATES THE ENTIRE LIABILITY OF OSI WITH RESPECT TO INFRINGEMENT OF
ANY PATENTS, COPYRIGHTS, TRADEMARKS OR MISAPPROPRIATION OF TRADE SECRETS BY THE
OSI PROPRIETARY SOFTWARE OR OSI INTERFACE SOFTWARE OR ANY PARTS THEREOF. NO
COSTS OR EXPENSES SHALL BE INCURRED FOR THE ACCOUNT OF OSI BY BISYS OR ITS
AGENTS WITHOUT THE PRIOR WRITTEN CONSENT OF OSI.

The provisions of this Section 19 do not apply to any TPS or any OSI Interface
Software licensed by OSI from a third party.

INDEMNIFICATION PROCEDURES. The OSI indemnification obligation under the
foregoing subparagraph (a) shall not apply (I) to the extent that BISYS was
responsible for giving rise to the matter upon which the claim for
indemnification is based, and (ii) unless BISYS promptly notifies OSI of any
matters in respect of which the indemnity may apply and of which BISYS has
knowledge and gives OSI the full opportunity to control the response thereto and
the defense thereof, including without limitation any agreement relating to the
settlement thereof. BISYS' failure to promptly give notice shall affect OSI's
indemnification obligation only to the extent OSI's rights are materially
prejudiced by such failure. BISYS may participate, at its own expense, in such
defense and in any settlement discussions directly or through counsel of its
choice.

                                      21

<PAGE>

20.   RIGHT TO MAKE AN OFFER UPON THIRD PARTY OFFER.

BISYS shall have the right to offer to acquire all the outstanding shares or
substantially all the assets of OSI in the event of any bona fide written Third
Party Offer to acquire all of the outstanding shares or substantially all the
assets of OSI acceptable to the Board of Directors of OSI. OSI shall notify
BISYS of such offer and

              Confidential Materials omitted and filed separately
     with the Securities and Exchange Commission. Asterisks denote omissions.

all material terms thereof. For purposes of this Section, a "Third Party Offer"
means a written offer from any person or entity with the demonstrated financial
means to purchase all the outstanding shares or substantially all the assets of
OSI. Once BISYS receives notice of such bona fide offer and OSI's notice of
intention to duly consider such offer, BISYS shall have [**] in which to notify
OSI of its intent either to offer to acquire all of the outstanding ownership
interests in or substantially all the assets of OSI or to decline the
opportunity to make an offer. If BISYS intends to make an offer it shall do so
within [**] of its notice to OSI. Thereafter, OSI shall consider the BISYS offer
prior to acceptance of any offer. The OSI Board of Directors at its discretion
and in accordance with its fiduciary duty will consider and accept the offer
that best benefits OSI's shareholders. BISYS' right to notice shall terminate
upon completion of an initial public offering.

21.   TERMINATION.

(a)   TERM. This Agreement shall commence as of the Effective Date and continue
indefinitely unless terminated in accordance with provisions under this Section.

(b)   TERMINATION CONDITIONS. This Agreement shall terminate upon:

(i)   written agreement of the parties to terminate this Agreement;

(ii)  a party failing to cure its material breach within ninety (90) days of
receipt of notice of such breach, and notice from the non-breaching party to the
breaching party of its intent to terminate this Agreement as of the date set
forth in such notice;

(iii) a party (A) becoming or being declared insolvent or bankrupt, (B) becoming
the subject of, and failing to cause its dismissal within 180 days, any
proceedings relating to its liquidation, insolvency or for the appointment of a
receiver or similar officer for it, (C) making an assignment for the benefit of
all or substantially all of its creditors, or (D) entering into an agreement for
the composition, extension, or readjustment of all or substantially all of its
obligations, and notice from the other party of its intent to terminate this
Agreement as of the date set forth in such notice; or

(iv)  written notice of BISYS at any time during the 180 day period following a
Change of Control of OSI on not less than 30 days written notice; provided that
such termination date is a date not later than the last day of such 180 day
period.

                                      22

<PAGE>

(c)   DUTIES UPON TERMINATION. Upon termination of this Agreement, the
parties shall continue to perform their respective payment and support
obligations under Sections 8 and 9 hereof which obligations shall survive the
termination of this Agreement. The foregoing notwithstanding, in the event of
a termination pursuant to clause (b)(iv) above, BISYS and OSI shall have the
following rights and obligations so long as any Outsourcing Services or
Facilities Management agreement remains in effect:

i)    OSI shall continue to provide all Enhancements to, and any and all new
versions of, the OSI Source Code to BISYS within 90 days following general
release to OSI customers;

ii)   BISYS shall have the right to convert an unlimited number of additional
BISYS Customers to the System and in consideration thereof shall pay OSI the
License Fees as provided in Section 8(a) hereof;

iii)  For the 12 month period commencing with the first full month following the
termination date, BISYS shall pay the Maintenance Fees provided in Section 8(b)
hereof for both then existing and new BISYS Customers and OSI shall provide the
support services as set forth in Attachment 1 hereto. After such 12 month
period, (Y) OSI shall no longer be obligated to provide such support services,
and (Z) in consideration of OSI's obligation in clause i) above, BISYS shall pay
OSI a maintenance fee of 3% (5% commencing with the quarter following the
date on which the number of BISYS Customers exceeds 100) of the License Fee
applicable to each BISYS Customer. The applicable License Fee for existing BISYS
Customers as of the end of such 12 month period shall be the License Fee then
being used for such Customer for the calculation of maintenance fees under
Section 8(b) hereof. The applicable License Fee for new BISYS Customers after
such 12 month period shall be the License Fee used to determine the license fee
payable by BISYS pursuant to the foregoing clause ii).

22.   DISPUTE RESOLUTION.

(a)   Any controversy or claim arising out of or relating to this Agreement or
the breach thereof shall be settled by arbitration before three (3) arbitrators
in accordance with the Rules of the American Arbitration Association ("AAA")
then in effect, and judgment upon the award rendered by the arbitrators may be
entered in any court having jurisdiction. Any such arbitration shall be
conducted in the city nearest OSI's office having an AAA regional office. The
arbitrators shall be selected from a panel of persons having experience with and
knowledge of electronic computers and the computer business, and at least one of
the arbitrators selected shall be an attorney.

(b)   The arbitrators shall have no authority to award punitive damages and may
not, in any event, make any ruling, finding or award that does not conform to
the terms and conditions of this Agreement.

                                      23

<PAGE>

(c)   Either party, before or during any arbitration, may apply to a court
having jurisdiction for a temporary restraining order or preliminary or
permanent injunction where such relief is necessary to protect its interests.

(d)   Neither party nor the arbitrators may disclose the existence or results
of any arbitration hereunder without the prior written consent of both Parties.

(e)   Prior to initiation of arbitration or any form of legal or equitable
proceeding permitted by this agreement, the aggrieved party shall give the other
party at least thirty (30) days prior written notice describing the claim and
amount as to which it intends to initiate action, provided that nothing
contained herein shall prohibit either party from immediately seeking equitable
relief to enforce any provision of this agreement from a court of competent
jurisdiction under such circumstances as that party's interests hereunder and
its property will be otherwise comprised.

23.   ASSIGNMENT. Except as specifically stated in this Agreement with regards
to Change in Control, neither this Agreement nor any of the rights, interests or
obligations of any party hereunder shall be assigned or delegated by either
party hereto without the prior written consent of the other. Such consent shall
not be withheld unreasonably. Any unauthorized assignment or delegation shall be
null and void.

24.   GENERAL.

(a)   NOTICES. Any notice provided pursuant to this Agreement shall be in
writing and shall be deemed given (i) if by hand delivery, upon receipt thereof;
(ii) if mailed, three (3) days after deposit in the United States mails, postage
prepaid, certified mail return receipt requested, or (iii) if sent via overnight
courier upon receipt.

If to BISYS:
Paul H. Bourke, President
BISYS, Inc.
11 Greenway Plaza, Houston, TX 77046-1102

With copies to:
General Counsel
The BISYS Group, Inc.
150 Clove Road
Little Falls, NJ 07424

                                      24

<PAGE>

If to OSI:

Douglas Anderson, President
Open Solutions, Inc.
300 Winding Brook Drive, Glastonbury, CT 06033.

With copies to:
Christine Horrigan, Esq.
Shipman & Goodman
One American Row, Hartford, CT 06103

(b)   BINDING AGREEMENT. This Agreement shall be binding upon and inure to the
benefit of the parties, their successors and permitted assigns.

(c)   GOVERNING LAW AND VENUE. This Agreement and performance hereunder shall be
governed by the laws of the State of New York without regard to conflicts of
law.

(d)   FORCE MAJEURE. Neither party shall be liable for delay or failure to
perform any of its obligations hereunder to the extent that such delay or
failure arises times shall be considered extended for a period of time equal to
the time lost because of such delay or failure.

(e)   SEVERABILITY. If any provision of this Agreement shall be held to be
invalid, illegal or unenforceable by a court of competent jurisdiction, the
validity, legality and enforceability of the remaining provisions shall in no
way be affected or impaired thereby.

(f)   REMEDIES. The rights and remedies of the parties set forth in this
Agreement are not exclusive and are in addition to any other rights and remedies
available to them in law or in equity.

(g)   NO WAIVER. The waiver or failure of any party to exercise any right
provided for herein shall not be deemed a waiver of any further right hereunder.

(h)   INDEPENDENT CONTRACTORS. The parties shall at all times be independent
contractors with respect to each other in carrying out this Agreement.

(i)   HEADINGS. Headings used in this Agreement are for reference only and shall
not be deemed a part of this Agreement.

(j)   SURVIVAL. In addition to OSI's obligations under Section 9, and BISYS'
payment obligations under section 8 and rights to obtain the source code from
escrow under Section 13, the provisions of this Agreement relating to
warranties, limitations of

                                      25

<PAGE>

liability, indemnification, confidentiality, choice of law and dispute
resolution shall survive the termination of this Agreement.

(k)   CONDUCT. Notwithstanding that OSI and BISYS may at times be in competition
for the same Customer, each party agrees to refrain from conduct intended to
disadvantage the other. Repeated violations of this section during any twelve
(12) month period after notice of such violation shall be considered a material
breach not subject to cure.

(l)   TAXES. The System licensed hereunder to BISYS is basically for sublicense
to Customers and therefore should be exempt from sales, use and other similar
taxes. However, if such tax should be imposed on OSI, BISYS shall either bear
such tax by a direct payment to the taxing authority or shall reimburse OSI for
such tax. BISYS shall be responsible for any applicable customs and duties
related to its sublicensing of the System.

(m)   ENTIRE AGREEMENT. This Agreement constitutes the complete understanding
and agreement of the parties with respect to the subject matter hereof and
supersedes and merges any prior understandings, statements, negotiations between
the parties, whether oral or otherwise. This Agreement may not be modified
except by a writing subscribed to by both parties.

      IN WITNESS WHEREOF, the parties have executed this Agreement by their duly
authorized representatives as of the date first set forth above.

OPEN SOLUTIONS INC.                         BISYS, INC.

By: /s/ Doug Anderson                       By: /s/ Paul Bourke
    ----------------------------               ---------------------------------
Name/title:                                 Name/title:

                                      26

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