Document:

Exhibit 10.1
                                                Confidential Treatment Requested

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                             Memorandum of Agreement

                                     between

                         London Bridge Software Limited

                                        &

                         Phoenix International Ltd, Inc.

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                                                Confidential Treatment Requested

                               Marketing Agreement

     This Marketing  Agreement (the "Agreement")  executed by and between London
     Bridge Software Limited ("LBS"), whose registered office is situate at 16th
     Floor, New London Bridge House, 25 London Bridge Street, London SE1 9SG and
     Phoenix  International  Ltd, Inc.  ("Phoenix"),  whose  principal  place of
     business is 500 International Parkway, Heathrow, Florida 32746 USA.

      STATEMENT OF PURPOSE

      WHEREAS,  LBS is in the  business  of  developing,  inter  alia,  customer
      relationship management software applications and integration services.

      WHEREAS Phoenix wishes to market, distribute, resell, display, demonstrate
      and /or  solicit  orders  for the  Software  to  current  and  prospective
      customers of Phoenix.

      AGREEMENT

      In  consideration  for the mutual  promises  set forth below and for other
      valuable  consideration,  the sufficiency of which is hereby acknowledged,
      the parties agree as follows:

      1.      Definitions.  The  following  terms  are  incorporated  herein  by
              reference:

      1.1     End-User - An existing or prospective  customer of Phoenix to whom
              Phoenix  distributes the Software for use in the regular course of
              such customer's business,  but specifically not for the purpose of
              sublicensing. An existing customer of Phoenix means a third party,
              its Affiliates and its successors and assign that has entered into
              a written  licence and/or  service  agreement with Phoenix for the
              use of Phoenix's products and/or services.

      1.2     End-User  License  Agreement-  The form of  agreement  whereby LBS
              grants the  End-User the right and license to use the Software and
              establishes the terms for such use.

      1.3     Maintenance  -  The  telephone  and  facsimile   support,   remote
              diagnostics,  and updates and upgrades to the Software,  which are
              provided to the End-User for an annual subscription fee.

      1.4     Software - Are LBS  Software  which  consist of one or more of the
              products  listed in Schedule B which may be updated  periodically,
              as well as the associated  documentation created for use with said
              Software such as reference guides, user manuals, and on-line help.
              Software  shall also  include all  updates  and  upgrades to those
              items listed in Schedule B, as well as future  products  which LBS
              chooses to make available to Phoenix.

      1.5     Payments - Monies due to LBS from Phoenix.

      1.6     Proprietary   Information-  Any  written   information  marked  as
              confidential at the time of disclosure,  or any other  information
              of either party which, under the  circumstances,  reasonably ought
              to be considered confidential and

              Proprietary,  including  but  not  limited  to  all  business  and
              marketing plans,  customer lists,  Products,  software,  technical
              specifications and technical and user  documentation.  Proprietary
              Information shall not include information which (i) is lawfully in
              the other  party's  possession  prior to the  disclosure;  (ii) is
              lawfully  disclosed  to  such  party  by  a  third  party  without
              restrictions on its disclosure;  (iii) is independently  developed
              by such party;  or (iv)  became  known to such party from a source
              other  than  the  other  party  other  than  by the  breach  of an
              obligation of confidentiality owed to the other party.

      2.      Grant of Rights

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                                                Confidential Treatment Requested

2.1           Grant of Distribution: Subject to the terms and conditions of this
              Agreement,   LBS  hereby   grants  to  Phoenix  a   non-exclusive,
              non-transferable licence for the term of this Agreement to use and
              market the Software (in their  unmodified  form) to End-Users only
              for use in association with the Phoenix System ("Phoenix  System")
              of Phoenix.  This clause  shall in no way limit the ability of LBS
              to market,  license, and support the Software,  either directly or
              indirectly to whomsoever it chooses.

              Where Phoenix  identifies a  prospective  user of the Software for
              use not in association with Phoenix System, Phoenix shall seek the
              permission of LBS to sell the Software to this named  client.  The
              granting  or  refusal  of  permission  shall  be in  the  absolute
              discretion of LBS.

2.2           Ownership:  All right,  title, and interest in and to the Software
              and all copyrights,  patents,  trademarks,  or other  intellectual
              property or  proprietary  rights  contained  therein  shall remain
              exclusively with LBS. This clause 2.2 shall survive termination of
              this Agreement.

2.3           Copies:  Phoenix  may  copy  and use the  Software  as  reasonably
              necessary  to  demonstrate,  market and  support  the  Software to
              End-Users and otherwise  fulfill its marketing  obligations  under
              this Agreement

3.            Licensing of Products

3.1           Licensing terms.  All End-User License  Agreements and Maintenance
              agreements must be executed by LBS and the End-User. Where Phoenix
              is to provide level 1 initial  diagnostic  support to End-Users it
              may enter into Maintenance agreements directly with the End-Users.
              Such Maintenance agreements entered into by Phoenix shall be for a
              term no greater than five (5) years.

4.            Order/Software Procedures

4.1           Order Procedure.  Upon execution of an End-User Licence  Agreement
              Phoenix  shall submit  written  purchase  orders to LBS. LBS shall
              ship the Software to the End User. Any purchase order must include
              as a  minimum,  name  of  Software,  number  of  licenses  of each
              Software,  the price and any agreed upon discounts,  End-User name
              and billing address,  number of users and accounts, and such other
              information which LBS may request from time to time.

4.2           Updated  Versions.  LBS shall deliver master copies of any updated
              versions of the Software,  including fixes, enhancements,  and new
              releases,  promptly upon their availability,  in the same media as
              Phoenix  received  the prior  version.  LBS shall also  deliver to
              Phoenix any other  materials  necessary for Phoenix to incorporate
              such updates in existing Software or to supersede prior versions.

4.3           Discontinuance:  LBS reserves the right to discontinue developing,
              producing,  licensing, or distributing any of the LBS Software and
              to  modify,  replace  or add  to the  LBS  Software,  at its  sole
              discretion, at any time.

5.            Obligations of Phoenix and LBS

5.1           Phoenix Obligations

              5.1.1    Phoenix  shall  use its  reasonable  efforts  to  market,
                       advertise  and  otherwise  promote  the  Software  to its
                       existing and prospective customer base where in Phoenix's
                       reasonable  opinion  it is the  best  solution  for  such
                       existing or prospective customers' needs.

              5.1.2    Phoenix  agrees to acquire and  maintain  throughout  the
                       term  of  this  Agreement,   at  its  own  expense,   all
                       permissions,  consents and  licenses  necessary to enable
                       Phoenix to  distribute  and market the Software and which
                       are  necessary  for the full and legal  operation of this
                       Agreement.  Phoenix  agrees  to  indemnify  and  hold LBS
                       harmless  from any and all claims and  damages  resulting
                       from Phoenix's

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                       failure to fulfill  its  obligations  under this  clause.
                       This  clause  5.1.2  shall  survive  termination  of this
                       Agreement.

             5.1.3     Phoenix shall comply with all  applicable  local laws and
                       regulations relating to the marketing and distribution of
                       the LBS Software, including any export regulations of the
                       United  States of America.  Phoenix  shall  indemnify and
                       hold LBS harmless  from any claims and damages  resulting
                       from  Phoenix's  failure to comply with the provisions of
                       this clause.  This clause 5.1.3 shall survive termination
                       of this Agreement.

              5.1.4    Phoenix shall not attempt to disassemble,  de-compile, or
                       reverse engineer the Software object code.

              5.1.5    Phoenix   agrees  to  execute   any  and  all   documents
                       reasonably   necessary  to  protect   LBS's   Proprietary
                       Information,  as defined  in clause 8 of this  Agreement,
                       prior to providing  such  Proprietary  Information to any
                       third party.

              5.1.6    Phoenix  may not  distribute  LBS  Software  to any third
                       party  where  Phoenix  knows  that  the  third  party  is
                       licensing the LBS Software for resale or  re-licensing or
                       where the third party is  reasonably  considered  to be a
                       competitor of LBS.  Phoenix may not use agents for resale
                       or re-licensing  of LBS Software  without the written and
                       explicit permission of LBS.

              5.1.7    Phoenix  shall not register,  or attempt to register,  in
                       any country in the world,  any  trademarks of LBS, or any
                       other marks deemed by LBS, at its sole discretion,  to be
                       confusingly  similar to existing LBS trademarks.  Phoenix
                       further  agrees to  cooperate  and  assist  LBS (at LBS's
                       request  and  expense)  with any  trademark  registration
                       efforts.  The  provisions  of  this  clause  5.1.7  shall
                       survive termination of this Agreement.

              5.1.8    After  training by LBS,  Phoenix  shall  provide  level 1
                       initial  diagnostic support to End-Users and shall report
                       problems  arising  out  of  or  in  connection  with  the
                       software to LBS for error  resolution in accordance  with
                       the  procedures  attached as Schedule A These  procedures
                       may be amended from time to time.

              5.1.9    Phoenix  shall  be  responsible   for   configuring   the
                       equipment  purchased by the End-User for operation of the
                       Software,  for  recommending  that the End-User  acquires
                       equipment that is then a currently supported platform for
                       the Software and for coordinating the installation of the
                       equipment and  Software.  Such  functions  shall be under
                       Phoenix's  agreement  and Phoenix shall keep all fees for
                       such services.

5.2      LBS Obligations

              5.2.1    LBS agrees to deliver to Phoenix one (1) copy of the most
                       recent  version of the  Software,  in object code version
                       only within five (5) business days following execution of
                       this  Agreement for use in accordance  with the terms and
                       conditions of this Agreement.

              5.2.2    Maintenance  or other  support  services for the Software
                       provided  by LBS  to  End-Users  shall  be  performed  in
                       conjunction  with the  provisions  of Schedule A attached
                       hereto.  LBS  shall  provide  such  services  only if the
                       Software  are   installed  in  a  hardware  and  software
                       environment  that LBS  then  currently  supports  for its
                       End-Users.

              5.2.3    LBS shall use reasonable  efforts to provide Phoenix with
                       analysis,  problem investigation and correction of errors
                       pertaining to the Software,  in accordance with the terms
                       and conditions of this Agreement.

              5.2.4    LBS will  provide up to a maximum  of  fifteen  (15) days
                       training  regarding  the  use of  the  Software  and  the
                       provision of Maintenance  upon terms to be agreed between
                       the  parties.  Such  training  shall  take  place  at the
                       headquarters  of LBS or Phoenix,  or such other  location
                       deemed suitable by LBS.  Phoenix

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                       shall be  responsible  for the travel and living costs of
                       its  technical  personnel who  undertake  such  training.
                       Phoenix  may  purchase  additional  training  at the then
                       current rates of LBS.

             5.2.5     LBS agrees to acquire and maintain throughout the term of
                       this  Agreement,  at its own  expense,  all  permissions,
                       consents  and licenses  necessary  for the full and legal
                       operation  of this  Agreement.  LBS  agrees to  indemnify
                       subject to the  restriction  on  liability at clause 10.1
                       hereof and hold Phoenix  harmless from any and all claims
                       and damages  resulting  from LBS's failure to fulfill its
                       obligations  under this  clause.  This clause 5.2.5 shall
                       survive termination of this Agreement.

             5.2.6     LBS agrees to execute  any and all  documents  reasonably
                       necessary to protect Phoenix's  Proprietary  Information,
                       as  defined  in  clause  8 of this  Agreement,  prior  to
                       providing  such  Proprietary  Information  to  any  third
                       party.

             5.2.7     LBS shall  provide  all level 2 and  higher  support  for
                       End-Users Maintenance agreements.

             5.2.8     At the  request of Phoenix,  LBS and  Phoenix  shall work
                       together  to  install  the  Software   that  an  End-User
                       licenses   under  the   arrangements   outlined  in  this
                       Agreement.  LBS and Phoenix personnel shall work together
                       on such  installation  s and LBS shall charge  Phoenix at
                       its then  standard  rate and its  then  standard  payment
                       terms for all  assistance  provided  in  respect of these
                       installations.

             5.2.9     Interface Development. Upon payment or upon the agreement
                       of payment by an  End-User,  the  parties  shall  jointly
                       develop a  communications  protocol  and  functional  and
                       technical  specification  for an  interface  between  the
                       Phoenix  System and the  Software.  Each party shall then
                       develop  its  portion of the  software  required  for the
                       interface in  accordance  with such  specification.  Each
                       party  will  own  the  portion  of the  interface  it has
                       developed.

6             Product Shipment, Payment, and Invoice Terms

6.1           Product Shipment. After receiving Phoenix's order for the Software
              in accordance with Section 4 of this Agreement, LBS shall ship the
              Software to End-Users.

6.2           Payments to LBS:

              6.2.1  Licence  Fees.  Upon  shipment  of the  Software  under the
              provisions of paragraph 6.1 above,  LBS shall invoice  Phoenix for
              all licence  fees due to LBS by Phoenix  under the  provisions  of
              Schedule B attached hereto.  Unless  previously agreed with LBS in
              writing Phoenix shall pay LBS at least**** per cent (****) of all
              such  licence  fees  upon  execution  of  the  relevant   End-User
              Agreement  within the remainder  being paid within one hundred and
              eighty (180) days of execution of the relevant End-User  Agreement
              regardless of whether Phoenix  receives payment from the End-User.
              Where  Phoenix  receives  payment  of  licence  fees in a  greater
              percentage  or a shorter time frame than appears  above payment to
              LBS by Phoenix shall mirror the payments  received by Phoenix from
              the End-User.

              6.2.2 Maintenance Fees. For Phoenix's current customers who become
              End-Users, Phoenix shall pay LBS the annual Maintenance fees under
              the  provisions  of  Schedule  B on the  same  schedule  on  which
              Maintenance  fees are currently due from each End-User,  which may
              be annually,  quarterly, or monthly in advance. Phoenix will, upon
              license of the Software to each such End-User,  notify LBS of such
              End-User's Maintenance fee payment schedule. For all new End-Users
              which are not currently Phoenix  customers,  Phoenix shall pay LBS
              the  Maintenance  fee  annually  in  advance.  Except as set forth
              above,  LBS shall not be subject to any payment  terms  offered to
              End-User by Phoenix  unless prior  agreement  with LBS in writing,
              and in any case  Phoenix  shall pay LBS for all  Maintenance  fees
              regardless of whether Phoenix receives payment from End-Users.

6.3           End-User   Payment.   Phoenix   shall  have   responsibility   for
              establishing  prices  and  collecting  fees  from  End-  Users for
              Software licensed under any End-User License Agreement

****  Omitted  pursuant  to a  request  for  confidential  treatment  and  filed
separately with the Commission
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6.3           Delinquent  Payments.  If any payment due to LBS  hereunder  shall
              remain unpaid for thirty (30) days following the date due, LBS may
              impose  interest  thereon at 5.0% per year over the base rate from
              time to time of the Royal Bank of Scotland.

6.4           Tender and  Payment.  All amounts to be paid under this  Agreement
              are payable in US Dollars and all payments due hereunder  shall be
              made payable to LBS and forwarded to LBS at its registered  office
              or other  location  designated  by LBS.  LBS reserves the right to
              halt shipment of any of the Software,  in whole or in part, in the
              event  of any  delinquency  in  payment  for any  prior  order  or
              shipment.

6.5           Price Adjustments. LBS reserves the right to adjust the pricing of
              its Software and Maintenance services upon written notification to
              Phoenix,  provided that such  notification is at least Ninety (90)
              days prior to any such changes.  Phoenix will make Payments  based
              upon the revised LBS list price for any  licenses of the  Software
              subsequently distributed to End-Users. The revised price list will
              not contain prices greater than the prices  contained in the price
              list offered to prospective LBS customers.

6.6           Taxes.  Phoenix  shall  collect,  report,  and pay to the relevant
              taxing authority, any property,  customs excise, sales and/or use,
              or similar taxes (other than taxes on LBS's income generally) that
              arise under this  Agreement.  Phoenix agrees to indemnify and hold
              LBS harmless from any claims or damages  resulting  from Phoenix's
              failure  to comply  with this  paragraph.  This  clause  6.6 shall
              survive termination of this Agreement.

7.            Marketing

7.1           Publicity  and  Advertisement.  The  parties  may elect to issue a
              joint  press  release  announcing  their  relationship  under this
              Agreement.  No such  announcements  or advertising will be made by
              either party without the written consent of the other.

7.2           Trademarks.  LBS grants to Phoenix limited  permission to use both
              LBS's  trademarks  and  registered  trademarks  solely to identify
              Software licensed from LBS under this Agreement. Phoenix shall use
              LBS's  trademarks and registered  trademarks  only for purposes of
              advertisement,  promotion,  and distribution of the  corresponding
              Software  and  for no  other  purposes.  Phoenix  shall  use  such
              trademarks  and  registered  trademarks  in  accordance  with  the
              guidelines  established by LBS from time to time and shall not use
              such marks in any manner  likely to confuse or mislead the public,
              or to be adverse to the best  interests of LBS. No  advertising or
              promotional  literature  shall  use  either  the  name  of LBS its
              trademarks or registered  trademarks  or any  combination  of them
              without the prior written consent of LBS and such consent will not
              be unreasonably withheld.

8.            Confidentiality

8.1           Agreement.  Phoenix shall not disclose the terms of this Agreement
              to anyone other than (i) its employees who reasonably acquire such
              knowledge  in the ordinary  course and scope of their  employment;
              (ii)  its  agents  or   representatives   whose  assigned   duties
              reasonably  require such disclosure;  or (iii)  End-Users,  to the
              extent  necessary to distribute  the Software.  Phoenix shall take
              all  reasonable  steps to ensure that the terms of this  Agreement
              are  not   disclosed   further   by  its   employees,   agents  or
              representatives  or by any  End-User,  its  employees,  agents  or
              representatives.

8.2           Software.  Phoenix  agrees that the  Software,  together  with all
              materials  and  knowledge  related  thereto,  obtained  by Phoenix
              pursuant to this  Agreement  shall be held in confidence and shall
              not be made  available  in any form for the use or  benefit of any
              person or entity other than Phoenix and/or  End-Users  without the
              prior written consent of LBS.  Notwithstanding the foregoing,  LBS
              agrees  that  Phoenix  and/or  End-Users  shall  be  permitted  to
              disclose  relevant  aspects of the Software to their employees and
              agents to the extent reasonably  necessary for Phoenix or End-User
              use of Software;  provided that Phoenix and/or End-User shall take
              all  reasonable  steps to ensure  that  Software  are not  further
              disclosed or duplicated. Neither

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              Phoenix  nor  End-Users  shall  allow  any  attachment,  levy,  or
              execution upon or against the Software, and each shall immediately
              notify LBS in writing regarding any such attempt.

8.3           Other  LBS  Information.  Phoenix  agrees  to hold  materials  and
              knowledge  regarding  other  LBS  Software  it  is  evaluating  or
              reviewing  for  inclusion  in  this  Agreement,   or  for  general
              knowledge,  as  well as all  other  LBS  Proprietary  Information,
              confidential  to the same degree as  Software.  LBS  reserves  the
              right  to   designate  in  writing,   which  of  its   Proprietary
              Information  may be disclosed by Phoenix  under the  provisions of
              this Agreement.

8.4           Phoenix   Information.   LBS  and   its   employees,   agents   or
              representatives shall not use, duplicate, or disclose to any third
              party such  Proprietary  Information of Phoenix without  Phoenix's
              prior consent,  except to the extent reasonably  necessary for the
              performance of LBS  obligations  under this  Agreement.  LBS shall
              take  all  reasonable  steps  to  ensure   Phoenix's   Proprietary
              Information  hereunder  is not used,  duplicated,  or disclosed in
              contravention of this Agreement.

8.5           Disclosure Required by Law. Nothing in this Section shall restrict
              disclosure  by either  party  required by any  applicable  law, or
              regulation,  by the  order of any court or  administrative  agency
              having jurisdiction regarding such matters, or in conjunction with
              legal due diligence for a pending  merger,  acquisition  or public
              financing  event.  However,   either  party  shall  promptly  upon
              receiving notice of any required  disclosure,  notify the other in
              writing,  providing all  information and assistance for such party
              to defend its rights hereunder. LBS acknowledges that Phoenix is a
              publicly  traded  corporation  and may be  required  to file  this
              Agreement with the U.S.  Securities and Exchange  Commission under
              the disclosure rules and regulations.

8.6           Injunctive  Relief.  In the event of a breach of the provisions of
              this clause 8, each party  shall be entitled to obtain  injunctive
              or other equitable  relief from a court of competent  jurisdiction
              to restrain the use or disclosure of its Proprietary  Information.
              Such remedy shall be in addition to, and not in lieu of, any other
              remedies provided for in this Agreement.

8.7           Material  Breach.  Failure  to  adhere to the  provisions  of this
              clause 8 shall be considered a material breach of the Agreement.

8.8           Survival. The confidentiality  obligations of this Agreement shall
              survive its termination.

9.            Warranties

      9.1     Express Warranties

              9.1.1 LBS warrants  that it is the lawful owner or licensee of the
              Software  and has the  full  right  and  authority  to  grant  the
              licenses hereunder.

              9.1.2 LBS  warrants  the for a period of ninety (90) days from the
              date it is delivered, the media on which the Software is furnished
              will be free from any material defect in workmanship or material.

              9.1.3 LBS warrants that the Software will perform substantially in
              accordance with the  specifications set forth in the Documentation
              for a period  of ninety  (90) days from the date it is  delivered.
              This warranty does not cover,  however,  any copy of the Software,
              which  has been  altered  or  changed  in any way,  provided  such
              alteration, or change gave rise to the breach of warranty claim.

              9.1.4 LBS warrants that the Software provided under this Agreement
              shall be "Year 2000  compliant".  Specifically,  LBS warrants that
              the Software  will manage and  manipulate  data  involving  dates,
              including  single-century formulas and multi-century formulas, and
              will  not  cause  an  abnormally   ending   scenario   within  the
              application  or  result  in the  generation  of  incorrect  values
              involving such dates.

              9.1.5 LBS does not warrant  that the  functions  contained  in the
              Software will meet the  requirements of
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              Phoenix or any other party or that the  operation  of the Software
              will be  uninterrupted  or error-free.  LBS is not responsible for
              problems caused by changes in, or modifications  to, the operating
              characteristics  of any computer  hardware or operating system for
              which  the  Software  is  procured,  nor  is LBS  responsible  for
              problems  which result from the use of the Software in conjunction
              with software of Phoenix or third  parties or with hardware  which
              is incompatible  with the operating  system for which the Software
              is being procured.

              9.1.6  Only an  authorized  officer  of LBS may  grant  additional
              warranties,   which  may  be  binding  on  LBS.  Such   additional
              warranties must be in writing.

              9.1.7  Disclaimer  of  warranties.  Phoenix  expressly  agrees and
              acknowledges that the foregoing  warranties are in lieu of any and
              all other LBS  warranties  express or  implied.  LBS, on behalf of
              itself   and  its   suppliers,   disclaims   any  and  all   other
              representations  or  warranties  of any  kind  whatsoever,  either
              express or  implied,  including,  but not  limited to, any implied
              warranty of merchantability  or fitness for a particular  purpose.
              Phoenix  agrees that the disclaimer is reasonable and that phoenix
              has had adequate  prior  opportunity to assess fully the operation
              and  performance  of the  software.  Phoenix  shall  not  take any
              contrary or inconsistent position.

9.2           The terms of this 9 shall survive termination of this Agreement.

10            Remedies/Limitation of Liability

10.1          Limitation of LBS  Liability.  To the maximum  extent  permissible
              under applicable law, Phoenix agrees that the cumulative liability
              of LBS and its suppliers  for any damages  arising from or related
              to this Agreement,  including but not limited to claims for breach
              of contract,  breach of warranty,  negligence,  or tort, shall not
              exceed any amount  paid by Phoenix to LBS for the  Software  which
              gave rise to said claim.

10.2          Liability  Disclaimer.  To the maximum  extent  permissible  under
              applicable  law,  LBS,  on  behalf of  itself  and its  suppliers,
              disclaims  any  and  all  liability  for  special,  incidental  or
              consequential  damages (including loss of profits) arising from or
              related to this  Agreement  or with  respect to the  installation,
              implementation,  customization,  use,  operation or support of the
              Software  even if LBS or its  suppliers  have been apprised of the
              possibility of such damages.

10.3          Time  Limitation.  Any legal  proceeding based upon this Agreement
              must be  instituted  within two (2) years of the date the cause of
              action first accrued.

10.4          Allocation of Risk. Both parties  acknowledge  that the allocation
              of risk  contained  in this 10 is  reflected  in the price for the
              Software and is also a reasonable recognition of the fact that the
              Software cannot be tested in every possible  combination and it is
              not within LBS's control how and for what purpose the Software are
              used by Phoenix or End-Users.

10.5          Survival. The terms of this clause 10 shall survive termination of
              this Agreement.

11            Term/Termination

11.1          Term. This Agreement shall continue until  terminated  pursuant to
              this clause 11, or by the mutual written agreement of the parties.
              Any  expiration  or  termination  of the term  will be  final  and
              absolute.  Phoenix waives any right,  either express or implied by
              applicable  law or otherwise,  to renewal of this  Agreement or to
              any damages or  compensation  for the expiration or termination of
              the term in  accordance  with this  clause 11. Each of the parties
              has considered the  possibility of such  expiration or termination
              and the  possibility  of loss and damage  resulting  therefrom  in
              making expenditures pursuant to the performance of this

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                                                Confidential Treatment Requested

              Agreement.  It is the express  intent and agreement of the parties
              that  neither will be liable to the other for damages or otherwise
              by reason of the expiration or termination of the term as provided
              for herein.

11.2          Insolvency,  Bankruptcy,  etc. If either party becomes  insolvent,
              fails to pay, or admits in writing its inability to pay,  debts as
              they become due; or if either party  applies for,  consents to, or
              acquiesces  in the  appointment  of a trustee,  receiver  or other
              custodian for such party or for a substantial part of such party's
              property;  or  makes  a  general  assignment  for the  benefit  of
              creditors;  or,  if a  trustee,  receiver  or other  custodian  is
              appointed for such party or for a substantial part of such party's
              property and is not  discharged  within sixty (60) days; or if any
              bankruptcy,  reorganization,  debt arrangement or other proceeding
              under  any  bankruptcy  law,  or any  dissolution  or  liquidation
              proceeding is commenced by, consented to, or acquiesced in by such
              party and remains for sixty (60) days  undismissed;  or, if either
              party  ceases to conduct its business in the normal  course,  this
              Agreement may be terminated  by the other party  immediately  upon
              written notice without penalty of any kind.

11.3          Breach of  Agreement.  In the event  either party fails to perform
              any of its material  obligations  hereunder,  the other may notify
              the  non-complying   party  in  writing  of  the  breach.  If  the
              non-complying  party fails to remedy the breach within thirty (30)
              days  from  receipt  of such  notice,  or,  if the  breach  is not
              remediable  within  such  period  and the party in breach  has not
              undertaken and  thereafter  diligently  and  successfully  pursued
              significant  efforts to cure the breach,  the non-breaching  party
              may  immediately  terminate  this Agreement upon written notice to
              the  non-complying  party.  This  right to  terminate  shall be in
              addition  to,  and shall in no way limit the  non-breaching  party
              from pursuing other relief, except as otherwise limited herein.

11.4          Notice.  Either party may terminate this Agreement at any stage by
              giving the other three months  notice in writing of its  intention
              to terminate. Notwithstanding termination by LBS under this clause
              11.4 or clause 11.1 Phoenix may  continue to pursue any  potential
              customer  to  whom  Phoenix  has an  outstanding  proposal  for an
              End-User  licence  for a period of six (6)  months  following  the
              termination notice. At the expiration of the aforementioned period
              Phoenix shall transfer  details of the potential  customer to LBS.
              Phoenix  will  provide a list of all  outstanding  proposals  upon
              receipt of the termination notice

11.5          Effect  of  Termination.  Termination  of this  Agreement  for any
              reason shall  immediately  terminate  Phoenix's licence and rights
              under  this   Agreement  and  Phoenix  shall  return  to  LBS  all
              proprietary  materials,   and  other  materials  developed  by  or
              belonging to LBS which have been  received by Phoenix  pursuant to
              this  Agreement.  Termination of this Agreement  shall not relieve
              either party of its obligations to make immediate and full payment
              to the other for any amounts then due and/or payable.

11.6          Maintenance.  In the event of  termination  by LBS  under  clauses
              11.2, 11.3, 11.7,  and/or 11.8 Phoenix shall assign all rights and
              obligations  under any agreement for  Maintenance  which cover the
              Software  including  the right to be paid and collect  Maintenance
              fees for the Software.  If Phoenix cannot for contractual  reasons
              assign  such  rights  and   obligations   to  LBS,   Phoenix  will
              sub-contract  such  rights  to LBS and  Phoenix  shall pay LBS all
              Maintenance fees in respect of the Software in the prime contract.
              For the avoidance of doubt the  provisions of clause 11.5 apply in
              the event of Maintenance rights being sub-contracted.

              In the event of  termination  by LBS under clause 11.4 Phoenix may
              retain the Software as necessary to fulfill its obligations  under
              the remaining term of any End-User agreement for Maintenance, such
              agreements may not be extended.

11.7          Takeover/Merger. If Phoenix is the subject of a takeover or merger
              LBS  may  in  its  sole   discretion   terminate   this  Agreement
              immediately.

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                                                Confidential Treatment Requested

12            Indemnification

12.1          Indemnification of Phoenix.  LBS will defend or settle, at its own
              expense but under its sole  direction and  contingent on Phoenix's
              total  cooperation,  any claim  alleging  that any Software in its
              unmodified form infringes any patent,  trademark or copyright.  If
              any LBS Software becomes the subject of such a claim, LBS reserves
              the right, at its sole option, to either (i) modify or replace the
              affected  parts so the LBS Software  become  non-infringing,  (ii)
              obtain for Phoenix and any  End-Users the right to continue to use
              the Software,  or (iii)  terminate this  Agreement  immediately if
              options (i) and (ii) listed above are commercially impracticable.

              LBS will indemnify and hold Phoenix  harmless against any award of
              costs and/or damages  brought against Phoenix arising out of LBS's
              failure to comply  with its  obligations  to  provide  level 2 and
              higher maintenance support.

              In no event  shall  Phoenix  settle any such  claim,  lawsuit,  or
              proceeding without LBS's prior approval in writing,  and LBS shall
              have no liability for any such unapproved settlement so made. This
              clause  states the entire  liability  of LBS for any  infringement
              involving the LBS Software.

12.2          Indemnification  of LBS.  Phoenix,  on behalf  of  itself  and its
              agents,  will  indemnify  and hold harmless any award of costs and
              damages  brought against LBS to the extent that it is (i) based on
              a claim regarding the installation or configuration of Software by
              Phoenix  or  its  agents;  or  (ii)  based  on a  claim  regarding
              modification,  translation,  customization  or localization to the
              Software by Phoenix or its agents. Phoenix shall have the right to
              control  the  defence  of all such  claims,  lawsuits,  and  other
              proceedings. In no event shall LBS settle any such claim, lawsuit,
              or proceeding without Phoenix's prior approval,  and Phoenix shall
              have no liability for any such unapproved settlement so made.

12.3          Survival.   The   provisions  of  this  clause  12  shall  survive
              termination of the Agreement for any reason.

13            Dispute Resolution/Arbitration

13.1          Dispute Resolution/Arbitration Procedures. If a dispute arises out
              of or relates to this Agreement or a breach  thereof,  and if said
              dispute cannot be settled through direct discussions,  the parties
              agree to first  endeavour  to settle the  dispute  in an  amicable
              manner by mediation.  Thereafter, any unresolved claim arising out
              of or relating to this Agreement,  or a breach  thereof,  shall be
              referred to a sole arbitrator ("the Arbitrator")

              (i) The arbitration shall be held in London.

              (ii) The  Arbitrator  shall be appointed by the parties or failing
              agreement,  by the  President  for the time being of the Chartered
              Institute of Arbitrators.

              (iii) The  procedure  shall be agreed by the  parties,  or failing
              agreement, determined by the Arbitrator.

              (iv) If either  party  fails to comply with any  procedural  order
              made by the  Arbitrator,  the  Arbitrator  shall have the power to
              proceed in the absence of that party and deliver the award

              (v)  Neither  party  shall  request  or  be  awarded  punitive  or
              exemplary damages of any kind.

This 13 shall survive termination of this Agreement.

14            Miscellaneous General Provisions

14.1          Personnel. Personnel of LBS and Phoenix are not, nor shall they be
              deemed to be,  employees  of the other.  Each  party  shall be and
              remain an  independent  contractor  and  nothing  herein  shall be
              deemed to constitute the parties as partners.  Neither party shall
              have any authority to act, or attempt to act, or represent  itself
              directly or by implication, as an agent or in any manner assume or
              create  any  obligation  on behalf of or in the name of the other,
              nor shall  either be deemed  the agent or  employee  of the other.
              Phoenix  shall have no  authority  to appoint any other  dealer or
              re-marketer  of the  LBS  Software.  Each  party  will  be  solely

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                                                Confidential Treatment Requested

              responsible  for payment of all  compensation,  employment-related
              taxes,  and insurance  regarding its  respective  personnel.  Each
              party shall be solely  liable for any claims made by its personnel
              for injuries to persons or property  damage during the performance
              of  services  hereunder.  Each  party  agrees for the term of this
              Agreement and for two years after termination not to hire, solicit
              for   employment   or  otherwise   encourage   any   personnel  or
              sub-contractor of the other to leave their employment.

              14.2.1 Force Majeure.  Neither party shall be liable for delays in
              its  performance  hereunder  due to causes  beyond its  reasonable
              control, including but not limited to, acts of God, acts of public
              enemy,  acts of government or courts of law or equity,  civil war,
              insurrection or riots, fires, floods,  explosions,  earthquakes or
              other casualties, strikes or other labour troubles.

14.3          Notice.  All notices given to either party,  shall be by certified
              mail  or by  regular  overnight  delivery  service,  addressed  as
              follows:

              For Phoenix:                      For LBS:

              Phoenix International Limited Inc London Bridge Software Limited,
              500 International Parkway         16th Floor, New London
                                                Bridge House
              Heathrow                          25 London Bridge Street
              Florida                           London
              32746                             SE1 9SG
              USA                               Marked for the attention of
                                                Eric Watkins, Company Solicitor

14.4          Successors.  No  assignment  or transfer of this  Agreement or any
              right or privilege granted hereunder,  including any assignment by
              operation of law pursuant to a merger,  liquidation,  foreclosure,
              or involuntary  sale in bankruptcy,  shall be permitted of Phoenix
              or shall be  effective  or  binding  on LBS  without  LBS's  prior
              written  consent.  Subject  to  the  foregoing  limitation,   this
              Agreement  shall inure to the  benefit of and be binding  upon the
              parties hereto, their successors, and assigns.

14.5          Validity of Agreement. If any provision of this Agreement shall be
              held  illegal,  unenforceable,  or in  conflict  with any law of a
              federal,  state, or local government having jurisdiction over this
              Agreement,  the validity of the  remaining  portions or provisions
              hereof shall not be affected thereby.

14.6          Governing  Law.  This  Agreement  shall be construed in accordance
              with and  governed  by the law of England and Wales and each party
              agree to submit to the non-exclusive jurisdiction of the courts of
              England and Wales.  Headings  have been  included for  convenience
              only and shall not be used in  construing  any  provision  in this
              Agreement.

14.7          Amendments in Writing.  No amendment,  modification,  or waiver of
              any provision of this  Agreement  shall be effective  unless it is
              set forth in a writing that refers to this Agreement (must include
              Agreement  Number) and the  provisions so affected and is executed
              by an authorized  representative  of both  parties.  No failure or
              delay by either party in exercising  any right,  power,  or remedy
              will operate as a waiver of any such right, power, or remedy.

14.8          Expiration. This Agreement shall be valid only if executed by both
              parties within thirty (30) days of first execution.

14.9          Entire  Agreement.  This  Agreement  and  its  attached  Schedules
              constitute the entire agreement  between the parties regarding the
              subject   matter;   superseding   all   previous   communications,
              representations  or  agreements,  either  written  or  oral,  with
              respect to the subject matter.

14.10         Survival.  The terms of this 14 shall survive  termination of this
              Agreement.

15            Schedule

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15.1          The following Schedules are incorporated by reference:

              Schedule A    Runtime and ADE Service Description.
              Schedule B    Software Price list.

IN WITNESS WHEREOF, the parties have executed this Agreement effective as
of the date below.

      Phoenix:                             LBS:
      BY:/s/ Raju M. Shivdasani            BY: /s/

      NAME:  Raju M. Shivdasani            NAME:
                                                  ------------------

      TITLE: President and COO             TITLE:
                                                  ------------------

      DATE:  2/14/2000                     DATE:
                                            ------------------

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                                                Confidential Treatment Requested

                               Pricing to Phoenix
                               ------------------

      SOFTWARE PRICING:

      During the term of this  Agreement  Phoenix may order Software from LBS in
      accordance  with the terms and  conditions of this Agreement at a price of
      ****% of the retail price list as established by LBS from time to time.

      MAINTENANCE PRICE LIST:

      LBS's standard rate for  Maintenance  services is a percentage of the list
      (non-discounted)   price  of  the  Software  and  appears  at   hereafter.
      Maintenance fees for any Software acquired during an existing  Maintenance
      Period  are  prorated  so as to be  co-terminus  with  the  then  existing
      Maintenance  period.  Maintenance  for the first year for any  End-User is
      mandatory.

      Prior to Phoenix's provision of first level support as described at clause
      5.1.9 hereof LBS will provide all Maintenance Service to End-Users and LBS
      shall receive **** per cent (****%) of the  applicable  Maintenance  fees.
      Once Phoenix has  contracted  directly with the End-User for the provision
      of maintenance  service and is providing  first line  maintenance  service
      direct to the  End-User  Phoenix may retain  **** per cent  (****%) of the
      Maintenance fee and shall pay to LBS within thirty (30) days from the date
      of commencement  of the  maintenance  service to the End-User **** percent
      (****%) of the maintenance fees which the End-User owes for the applicable
      maintenance period. All maintenance fees are payable annually in advance.

      The  parties  shall  as soon as  reasonably  possible  agree  on  mutually
      acceptable terms and conditions,  including  payment terms, for the use of
      the Software by Phoenix in a service  bureau  capacity in  Phoenix's  U.S.
      application service centers.

****  Omitted  pursuant  to a  request  for  confidential  treatment  and  filed
separately with the Commission

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                                   Schedule A

                                Runtime Licensee

                                Standard Support

                               Service Description

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                                    Contents

Contents...........................................................14

Vectus Runtime Licensee Standard Support Service Description.......15
         Customer Support..........................................15
         Incident Logging..........................................15
                  Excluded elements................................15
                  Classification of incidents......................15
                  Response times...................................16
         Remote access.............................................16
         On-site support...........................................16
         Escalation................................................16
         Customer responsibilities.................................17
                  Documentation....................................17
                  Co-operation.....................................17
                  Single point of contact..........................17
         Cover Periods.............................................17
                  Christmas and New Year period.. .................17
         New Versions, Intermediate Upgrades and Maintenance
                  Releases.........................................17
                  New Versions.....................................17
                  Intermediate Upgrades............................18
                  Maintenance Releases.............................18
         Web Site..................................................18

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          Vectus Runtime Licensee Standard Support Service Description

London Bridge Software Holdings plc (LBSH) provide Customer Support as described
in this document for the Customer's  accredited  users of the Vectus(R)  Runtime
for the purpose of such accredited users running Vectus Applications  internally
or in support of the Vectus Runtime sold to end Customers.

Support is provided for the Vectus Runtime, and not for the Vectus ADE or Vectus
Applications,  which are subject to separate  support  arrangements.  Nothing in
this  document  shall  require LBSS to support  directly or  indirectly  any end
Customer.

LBSH has a policy of ongoing  development  and  reserves the right to amend this
document from time to time.

     Customer Support
     ----------------
Customer  Support  is the  first  point of  contact  with  LBSH to  resolve  any
incidents.  In  addition  to the  incident  logging  and  resolution  procedures
outlined  below,  Customer  Support can provide  general  advice and guidance on
functionality.  Advice and  guidance  offered is confined to aspects,  which may
reasonably be discussed in a telephone conversation of up to 15 minutes.

     Incident Logging
     ----------------
Incidents are logged with Customer Support explaining the incident and providing
examples.  This can be done by telephone  using the  dedicated  support line, by
e-mail,  fax, post or LBSH web site. Use of the dedicated support line should be
reserved for high priority  incidents,  with other methods being  preferable for
lower priority incidents.

Details to be reported include:
         Customer contact name,  company and telephone number User Name, company
         and telephone  number (if different  from above)  Version number in use
         (including  build  and  patch,  where  applicable)
         Priority
         Incident description including:
                  GUI (i.e. Toolbook or VB)
                  Case RDBMS
                  Operating System
                  Expected behaviour
                  Actual  behaviour
                  Error  messages  displayed
                  User action prior to the incident
                  User action after experiencing the incident
                  Number of users experiencing the incident

     Customer  Support  may not be able to log the  incident if any of the above
information is not provided.

                                Excluded elements
Incidents occurring  in the  following situations  are  outside the scope of the
         service:
         When intermediate upgrades or maintenance releases have not been
         applied
         Malicious intent
         Inappropriate use of Vectus
         Where  Vectus is  integrated  with  third  party  components  and those
         components are changed without an appropriate Vectus change having been
         implemented,  for example, changing versions of the Word Processor used
         Problems caused by faults in third party components,  for example, hard
         disks, printers or databases
         Problems with or assistance on third-party components (unless specified
         when ordering the Support Service)

                           Classification of incidents
Incidents are classified with one of the following priorities:

Section 1         Priority A

         Inoperable or service so reduced as to be unusable
         Time critical job stopped

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         Data  corruption  problems that cannot be contained and could lead to a
         significant loss of data with no feasible work-around

Section 2         Priority B
         Important job stopped, or time-critical job at risk Important component
         unusable Data corruption problems that cannot be contained  Malfunction
         having frequent and major impact

Section 3         Priority C
         Non urgent or intermittent incident causing inconvenience
         An  incident  which  has no  current  impact,  or for  which a  locally
         identified cure or  circumvention  is available,  that is passed on for
         information  only to ensure  registration of the incident and clearance
         as appropriate
                                 Response times
Target times are in working days except where stated otherwise:
<TABLE>
<CAPTION>
------------------------------------------------ -------------------- --------------------- --------------------
                                                                      Priority
------------------------------------------------ -------------------- --------------------- --------------------
Action                                           A                    B                     C
------------------------------------------------ -------------------- --------------------- --------------------
<S>                                             <C>                  <C>                   <C>
Start investigation                              + 15 mins            + 1 hour              + 2 days
------------------------------------------------ -------------------- --------------------- --------------------
Initial response / request for  information      + 1 hour             + 3 hours             + 3 days
------------------------------------------------ -------------------- --------------------- --------------------
Work around / temporary avoidance                + 2 hours            + 5 hours             + 4 days
------------------------------------------------ -------------------- --------------------- --------------------
Outline  plan of action                          + 4 hours            + 8 hours             + 4 days
------------------------------------------------ -------------------- --------------------- --------------------
Intermediate  progress  report  /  request  for  + 8 hours            + 1 day               + 6 days
further information
------------------------------------------------ -------------------- --------------------- --------------------
Despatch On-site Support (if req'd)              + 1 days             + 2 days              N/A
------------------------------------------------ -------------------- --------------------- --------------------
Advise full solution                             + 2 days             + 4 days              + 10 days
------------------------------------------------ -------------------- --------------------- --------------------
Ongoing progress reports                         Daily                Weekly                Weekly
------------------------------------------------ -------------------- --------------------- --------------------
Provide full solution                            + 3 days             Next     Maintenance  Next   Intermediate
                                                                      Release               Upgrade
------------------------------------------------ -------------------- --------------------- --------------------
Follow up                                        + 5 days             N/A                   N/A
------------------------------------------------ -------------------- --------------------- --------------------
</TABLE>
Times relate to the Cover Period.  For example,  a Priority A incident logged at
14:30 on a Friday afternoon is due for an outline plan of action by 10:00 on the
following Monday.

  Remote access
  -------------
In the  course of  incident  investigation,  it may be  necessary  for  Customer
Support  to access the  Customer's  system  directly.  The  Customer  shall make
available a modem  connection  into a PC connected to the Customer's  network to
allow remote access and file transfer.  The communications package used for this
must be agreed with Customer Support, to ensure  compatibility.  The cost of the
hardware and software for the modem link is not included in the Support Service.

When access is required, Customer Support agrees this with the Customer prior to
the link being established. The link is then made available to Customer Support.

Failure to provide remote access may make it impossible for Customer Support to
achieve the above response times.

  On-site support
  ---------------
If it becomes apparent that an incident cannot be resolved over the telephone or
by remote access,  Customer  Support will,  where  possible,  provide a software
patch. If this fails to resolve the problem,  or this course of action is deemed
inappropriate,  then LBSH may agree to  provide  on-site  support  within  Great
Britain.

  Escalation
  ----------
     At any stage during the life of an incident,  enquiries  may be made on the
     current status of an incident.  Use of the dedicated support line should be
     reserved for high priority  incidents,  with other methods being preferable
     for lower priority incidents.

If the Customer finds that an incident is more serious than  originally  agreed,
the  incident may be escalated  to the  appropriate  priority by agreement  with
Customer Support.

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If an incident is not resolved  within the target time scale, it is escalated to
the next highest priority, unless an extension is agreed with the Customer.

If an incident is or becomes  Priority A, then the Support  Services  Manager is
informed to monitor progress on a daily basis.

     If a Priority A incident is not  resolved  within the target time scale,  a
     LBSH Director is informed to monitor progress to final resolution.

     Customer responsibilities
     -------------------------
                                  Documentation
In order that  incidents are resolved as quickly as possible the Customer  shall
supply accurate documentation covering:

         System and  configuration  details  including  hardware  specification,
         basic systems and software set-up and versions
         Details on modem access and security
         System Change  management procedures that advise Customer Support of
         any proposed  changes to the system such as software version changes,
         hardware upgrades etc.

                                  Co-operation
Co-operate with Customer Support by taking reasonable actions in accordance with
         requests for the purpose of:
         Ensuring that  incidents have been caused by an error in Vectus
         Reporting all such incidents to Customer Support
         Extracting and supplying information, in electronic or hardcopy format,
         which Customer Support require to progress  incidents
         Ensuring that all intermediate  upgrades and maintenance  releases are
         applied
         Informing Customer Support when corrective actions have been tested
         successfully

                             Single point of contact
The Customer will:
         Provide a single point of contact where  Customer  Support can progress
         incidents   and  deliver   releases
         Be able to extract and supply electronically diagnostic  information
         which Customer Support may require in order to help  resolve  incidents
         Own and control  Customer responsibilities  for incident  progression
         e.g.  service  management, modem access etc.
         Be an accredited Vectus user for Runtime and Support & Administration
         purposes
   Cover Periods
   -------------
Cover is during normal office hours:

         Monday - Friday   09:00 - 17:30
                          Christmas and New Year period
The main LBSH  office  closes  from  Christmas  Day to New Years day  inclusive.
During this period, a priority service is available:

Section 4         Christmas, Boxing and New Years Day
         Customer Support is closed.
Section 5         Weekdays between Boxing Day and New Years Day
         Customer  Support is open from 9am to 5pm when incidents may be logged.
         Any Priority A incidents are progressed in line with the above response
         times.  All other incidents are progressed from 2nd January or the next
         working day.

     New Versions, Intermediate Upgrades and Maintenance Releases
      -----------------------------------------------------------
                                  New Versions
New versions are released, from time to time, at intervals of approximately 12 -
24 months.  These versions are usually designated by a whole number increment in
the version number (e.g. Version 4 changes to Version 5).

From Version 3 onwards,  existing  Customers  can upgrade to a new version for a
percentage  of the then  current  list price of such new  version,  when the new
version comes under the terms of the existing  Support  Service.  Linear upgrade
paths  are  provided  for at least two such  versions  (e.g.  from  Version 3 to
Version 4 and from Version 4 to Version 5). Customer Support is available on the
current  version and the two previous  versions  (e.g.  Version 5, Version 4 and
Version 3).

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New versions  contain new  functionality  and existing  applications may require
modification to take advantage of such functionality.

Moving from Version 2 to Version 3 requires  application  re-engineering,  which
LBSH can undertake by agreement.

                              Intermediate Upgrades
Intermediate  upgrades are released at intervals of approximately 3 to 6 months.
These upgrades may introduce new functionality  and / or fix notified  problems.
Such  upgrades are  designated by  incrementing  the decimal  number (e.g.  from
Version 4.1 to Version 4.2).  Upgrade  paths are supplied for each  intermediate
release,  although existing applications may need modification to take advantage
of new functionality.

Provision of intermediate upgrades is included in the Standard Support Service.

                              Maintenance Releases
Maintenance  releases are designated by  incrementing  the second decimal in the
version number (e.g. from Version 4.1.2 to Version 4.1.3).  Maintenance releases
are made outside the normal release programme to correct any notified faults.

Provision of maintenance releases is included in the Standard Support Service.

New  releases  are  supplied by  Customer  Support,  who assume  control of such
releases,  including agreeing how and when they are delivered. Such releases are
delivered,  together with appropriate release documentation,  on magnetic medium
or by modem.

Release  documentation  includes,  inter alia, the  following:  Changes and / or
         fixes  in  this  release  Any  changes  to  the  environment   required
         Installation instructions Known bug list

Subsequent  releases  assume  that all  previous  releases  have been  correctly
installed.

   Web Site
   --------
The release  schedule,  the planned  contents of the next  release and a list of
known  faults are held the Vectus web site,  which can also be used for  logging
incidents. Fixes for Priority A faults are also made available via the web site.

Access is  granted to the  nominated  contact  by means of  Passwords  issued by
Customer Support.

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                                 GRAHIC OMITTED

                                  ADE Licensee

                                Standard Support

                               Service Description

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                                    Contents

Contents................................................................20

Vectus ADE Licensee Standard Support Service Description................21
         Customer Support...............................................21
         Incident Logging...............................................21
                  Excluded elements.....................................21
                  Classification of incidents...........................21
                  Response times........................................22
         Remote access..................................................22
         On-site support................................................22
         Escalation.....................................................22
         Customer responsibilities......................................23

                  Documentation.........................................23
                  Co-operation..........................................23
                  Single point of contact...............................23
         Cover Periods..................................................23
                  Christmas and New Year period.........................23
         New Versions, Intermediate Upgrades and Maintenance Releases...23
                  New Versions..........................................23
                  Intermediate Upgrades.................................24
                  Maintenance Releases..................................24
         Web Site.......................................................24

<PAGE>
                                                Confidential Treatment Requested

Vectus ADE Licensee Standard Support Service Description
London Bridge Software  Holdings (LBSH) provide Customer Support as described in
this document for the Customer's  accredited users of the Vectus(R)  Application
Development   Environment  (ADE)  for  the  purpose  of  such  accredited  users
developing Vectus  Applications for internal use or Applications for onward sale
to end Customers.

Support is provided  for the Vectus ADE,  and not for the Vectus  Runtime or for
Vectus  Applications  developed  under it which are subject to separate  support
arrangements. Nothing in this document shall require LBSH to support directly or
indirectly any end Customer.

LBSH has a policy of ongoing  development  and  reserves the right to amend this
document from time to time.

     Customer Support
     ----------------
Customer  Support  is the  first  point of  contact  with  LBSH to  resolve  any
incidents.  In  addition  to the  incident  logging  and  resolution  procedures
outlined  below,  Customer  Support can provide  general  advice and guidance on
functionality.  Advice and  guidance  offered is  confined  to aspects  that may
reasonably be discussed in a telephone conversation of up to 15 minutes.

     Incident Logging
     ----------------
Incidents are logged with Customer Support explaining the incident and providing
examples.  This can be done by telephone  using the  dedicated  support line, by
e-mail,  fax, post or LBSH web site. Use of the dedicated support line should be
reserved for high priority  incidents,  with other methods being  preferable for
lower priority incidents.

Details to be reported include:
         Customer contact name,  company and telephone number User name, company
         and telephone number (where different from above) Version number in use
         (including  build  and  patch,  where  applicable)   Priority  Incident
         description including:

                  GUI (i.e. Toolbook or VB)
                  Case RDBMS
                  Operating System
                  Flow components necessary to reproduce the incident
                  (e.g. Function, In Tray)
                  Expected behaviour
                  Actual behaviour
                  Error messages displayed

     Customer  Support  may not be able to log the  incident if any of the above
information is not provided.

                                Excluded elements
Incidents occurring  in the following  situations  are  outside the scope of the
service: When intermediate  upgrades or maintenance  releases have not
         been applied
         Malicious intent
         Inappropriate use of Vectus
         Where  Vectus is  integrated  with  third  party  components  and those
         components are changed without an appropriate Vectus change having been
         implemented,  for example, changing versions of the Word Processor used
         Problems caused by faults in third party components,  for example, hard
         disks, printers or databases
         Problems with or assistance on third-party components (unless specified
         when ordering the Support Service)

                           Classification of incidents
Incidents are classified with one of the following priorities:

Section 6         Priority A
         Inoperable,  or so reduced as to be unusable,  and an  important,  time
         critical  project  stopped
         Data  corruption  problems  that  cannot be contained and could lead to
         a significant loss of data with no feasible work-around

Section 7         Priority B
         Important or time critical project at risk
         Important component unusable
         Data corruption  problems that cannot be contained

<PAGE>
                                                Confidential Treatment Requested

 Malfunction  having frequent and major impact

Section 8    Priority C
         Non urgent or intermittent incident causing inconvenience
         An  incident  which  has no  current  impact,  or for  which a  locally
         identified cure or  circumvention  is available,  that is passed on for
         information  only to ensure  registration of the incident and clearance
         as appropriate

                                 Response times
<TABLE>
<CAPTION>
Target times are in working days except where stated otherwise:

                                    Priority

------------------------------------------------ -------------------- --------------------- --------------------
<S>                                   <C>                    <C>                      <C>
Action                                           A                    B                     C
------------------------------------------------ -------------------- --------------------- --------------------
Start investigation                              + 30 mins            + 3 hours             + 2 days
------------------------------------------------ -------------------- --------------------- --------------------
Initial response / request for  information      + 1 hours            + 6 hours             + 3 days
------------------------------------------------ -------------------- --------------------- --------------------
Work around / temporary avoidance                + 4 hours            + 1 day               + 4 days
------------------------------------------------ -------------------- --------------------- --------------------
Outline  plan of action                          + 6 hours            + 1 day               + 4 days
------------------------------------------------ -------------------- --------------------- --------------------
Involve Technical Support (if req'd)             + 7 hours            + 2 days              + 5 days
------------------------------------------------ -------------------- --------------------- --------------------
Intermediate  progress  report  /  request  for  + 1 day              + 3 days              + 6 days
further information
------------------------------------------------ -------------------- --------------------- --------------------
Despatch On-site Support (if req'd)              + 2 days             + 4 days              N/A
------------------------------------------------ -------------------- --------------------- --------------------
Advise full solution                             + 3 days             + 6 days              + 10 days
------------------------------------------------ -------------------- --------------------- --------------------
Ongoing progress reports                         Daily                Weekly                Weekly
------------------------------------------------ -------------------- --------------------- --------------------
Provide full solution                            + 5 days             Next     Maintenance  Next   Intermediate
                                                                      Release               Upgrade
------------------------------------------------ -------------------- --------------------- --------------------
Follow up                                        + 7 days             N/A                   N/A
------------------------------------------------ -------------------- --------------------- --------------------
</TABLE>

Times relate to the Cover Period.  For example,  a Priority A incident logged at
14:30 on a Friday afternoon is due for an outline plan of action by 10:00 on the
following Monday.

     Remote access
     -------------
In the  course of  incident  investigation,  it may be  necessary  for  Customer
Support  to access the  Customer's  system  directly.  The  Customer  shall make
available a modem  connection  into a PC connected to the Customer's  network to
allow remote access and file transfer.  The communications package used for this
must be agreed with Customer Support, to ensure  compatibility.  The cost of the
hardware and software for the modem link is not included in the Support Service.

When access is required, Customer Support agrees this with the Customer prior to
the link being established. The link is then made available to Customer Support.

Failure to provide remote access may make it impossible for Customer  Support to
achieve the above response times.

     On-site  support
     ----------------
     If it  becomes  apparent  that an  incident  cannot  be  resolved  over the
     telephone or by remote access,  Customer Support will,  where  appropriate,
     provide a software  patch.  If this fails to resolve the  problem,  or this
     course of action is deemed  inappropriate,  then LBSH may agree to  provide
     on-site support within Great Britain.

     Escalation
     ----------
     At any stage during the life of an incident,  inquiries  may be made on the
     current status of an incident.  Use of the dedicated support line should be
     reserved for high priority  incidents,  with other methods being preferable
     for lower priority incidents.

If the Customer finds that an incident is more serious than  originally  agreed,
the  incident may be escalated  to the  appropriate  priority by agreement  with
Customer Support.

If an incident is not resolved  within the target time scale, it is escalated to
the next highest priority, unless an extension is agreed with the Customer.

<PAGE>
                                                Confidential Treatment Requested

If an incident is or becomes  Priority A, then the Support  Services  Manager is
informed to monitor progress on a daily basis.

     If a Priority A incident is not  resolved  within the target time scale,  a
     LBSH Director is informed to monitor progress to final resolution.

     Customer responsibilities
     -------------------------
                                  Documentation
In order that  incidents are resolved as quickly as possible the Customer  shall
supply accurate and up to date documentation covering:

         System and  configuration  details  including  hardware  specification,
         basic systems and software set-up and versions
         Details on modem access and security
         System Change  management  procedures that advise Customer
         Support of any proposed  changes to the system such as software version
         changes, hardware upgrades etc.

                                  Co-operation
Co-operate with Customer Support by taking reasonable actions in accordance with
         requests for the purpose of:
         Ensuring that  incidents have been caused by an error in Vectus
         Reporting all such incidents to Customer Support
         Extracting and supplying information, in electronic or hardcopy format,
         which Customer Support require to progress  incidents
         Ensuring that all intermediate  upgrades and maintenance  releases are
         applied
         Informing Customer Support when corrective actions have been tested
         successfully

                             Single point of contact
The Customer will:
         Provide a single point of contact where  Customer  Support can progress
         incidents   and  deliver   releases
         Be  able  to extract  and  supply electronically diagnostic information
         which Customer Support  may  require in order to help resolve incidents
         Own and control Customer responsibilities  for incident  progression
         e.g.  service  management, modem access etc.
         Be an accredited Vectus user for Application Development and Support &
         Administration purposes

Cover Periods
--------------
Cover is during normal office hours:
         Monday - Friday   09:00 - 17:00

                          Christmas and New Year period
The main LBSH  office  closes  from  Christmas  Day to New Years day  inclusive.
During this period, a priority service is available:

Section 9
           Christmas, Boxing and New Years Day
           Customer Support is closed.

Section 10
         Weekdays between Boxing Day and New Years Day
         Customer  Support is open from 9am to 5pm when incidents may be logged.
         Any Priority A incidents are progressed in line with the above response
         times.  All other incidents are progressed from 2nd January or the next
         working weekday.

          New Versions, Intermediate Upgrades and Maintenance Releases
          ------------------------------------------------------------
                                  New Versions
New versions are released, from time to time, at intervals of approximately 12 -
24 months.  These versions are usually designated by a whole number increment in
the version number (e.g. Version 4 changes to Version 5).

From Version 3 onwards,  existing  Customers  can upgrade to a new version for a
percentage  of the then  current  list price of such new  version,  when the new
version comes under the terms of the existing  Support  Service.  Linear upgrade
paths  are  provided  for at least two such  versions  (e.g.  from  Version 3 to
Version 4 and from Version 4 to Version 5). Customer Support is available on the
current  version and the two previous  versions  (e.g.  Version 5, Version 4 and
Version 3).

New versions  contain new  functionality  and existing  applications may require
modification to take advantage of such functionality.

Moving from Version 2 to Version 3 requires  application  re-engineering,  which
LBSH can undertake by agreement.

<PAGE>
                                                Confidential Treatment Requested

                              Intermediate Upgrades
Intermediate  upgrades are released at intervals of approximately 3 to 6 months.
These upgrades may introduce new functionality  and / or fix notified  problems.
Such  upgrades are  designated by  incrementing  the decimal  number (e.g.  from
Version 4.1 to Version 4.2).  Upgrade  paths are supplied for each  intermediate
release,  although existing applications may need modification to take advantage
of new functionality.

Provision of intermediate upgrades is included in the Standard Support Service.

                              Maintenance Releases
Maintenance  releases are designated by  incrementing  the second decimal in the
version number (e.g. from Version 4.1.2 to Version 4.1.3).  Maintenance releases
are made outside the normal release programme to correct notified faults.

Provision of maintenance releases is included in the Standard Support Service.

New  releases  are  supplied by  Customer  Support,  who assume  control of such
releases,  including agreeing how and when they are delivered. Such releases are
delivered,  together with appropriate release documentation,  on magnetic medium
or by modem.

Release  documentation  includes,  inter alia, the  following:  Changes and / or
         fixes included in this release Any changes to the environment  required
         Installation instructions Known bug list

Subsequent  releases  assume  that all  previous  releases  have been  correctly
installed.

     Web Site
     --------
The release  schedule,  the planned  contents of the next  release and a list of
known faults are held on the Vectus web site, which can also be used for logging
incidents. Fixes for Priority A faults are also made available via the web site.

Access is  granted to the  nominated  contact  by means of  Passwords  issued by
Customer Support.

<PAGE>
                                                Confidential Treatment Requested

Schedule B

The  structure of this price list is now fixed,  unless  someone comes up with a
show-stopping  reason why it cannot work. However,  the amounts could be subject
to  change  if people  have  experience/knowledge  which  means  they  should be
changed. This is particularly true in the areas of "Modules based on Web access"
and "Developers" licenses.

Vectus Engine

                      Single App      Additional Apps  Full-Use
First 20 users         $ ****         $ ****             $ ****     ****%
20 - 100 users         $ ****         $ ****             $ ****     ****%
101 - 200 users        $ ****         $ ****             $ ****     ****%
200 +                  $ ****         $ ****             $ ****     ****%

In order to get value based  pricing on the engine we need to take into  account
"case" volumes.

if they buy  20 usersthat allows them to process 400,000    cases/annum  :-

                        50 users                              1,000,000

                       100 users                              2,000,000

                       200 users                              4,000,000

If they need to  process  more than  their  number of users  allows  they can be
licensed to process  additional case volume,  in blocks of 100,000 cases, at the
following rates:-

             between 400k and 1,000,000           $ ****       per 100,000 cases

             between 1,000,000 and 4,000,000      $ ****

             beyond 4,000,000                     $ ****

This gives them a license to use the Vectus  engine for a number of named  users
and to  process  a number of cases for one or more  applications,  with  desktop
access. Also included is a license to use:-

                                   C-API interface
                                   Corba interface
                                   Com interface
                                   VB run-time interface

****  Omitted  pursuant  to a  request  for  confidential  treatment  and  filed
separately with the Commission
<PAGE>
                                                Confidential Treatment Requested

Web access for Vectus Engine

Where  people  want web  access to the  engine we will  charge a one-off  fee of
$**** plus an additional  $**** per processor for each  processor  accessing
the engine

Batch access for Vectus Engine

Where  people  want access to the engine we will charge a one-off fee of ****
for the Vectus Batch Service Manager

****  Omitted  pursuant  to a  request  for  confidential  treatment  and  filed
separately with the Commission

<PAGE>
                                                Confidential Treatment Requested

Modules based on Engine license

The following  modules will be priced at the same user level as the engine.  So,
for  instance,  if the engine is licensed for the  equivalent of 100 users these
modules will be charged at 100 users :

                                          20        21-100     101-200     201+

Database-Link (first database)           $****      $****      $****     $ ****

Database-Link (subsequent d/b's)         $****      $****      $****     $ ****

CTI-Link (first)                         $****      $****      $****     $ ****

CTI-Link (subsequent)                    $****      $****      $****     $ ****

Image-Link (first)                       $****      $****      $****     $ ****

Image-Link (subsequent)                  $****      $****      $****     $ ****

Bureaux-Link (first bureau)              $****      $****      $****     $ ****

Bureaux-Link (subsequent bureau)         $****      $****      $****     $ ****

where  additional  case volume has been  licensed  for the engine an  additional
charge will be added of $**** per 100,000 cases.

Decision Master                       $****      $****      $****     $ ****

where additional case volume has been licensed for the engine an additional
charge will added of $ per 100,000 cases

Outlook plug-in run-time interface    $****      $****      $****     $ ****

Modules based on Web access license

The  following  modules  will be  priced  at the same  level  as the web  access
license. So, for instance,  if the engine is licensed for three processors these
modules will be charged at the same level:-

****  Omitted  pursuant  to a  request  for  confidential  treatment  and  filed
separately with the Commission

<PAGE>
                                                Confidential Treatment Requested

                                       1st proc           2-9 procs          10+

Java Interface                         $****               $****          $****

Vectus ASP/HTML Interface              $****               $****          $****

Vectus-X                               $****               $****          $****

Vectus Applets                         $****               $****          $****

Vectus Call Centre                     $****               $****          $****

****  Omitted  pursuant  to a  request  for  confidential  treatment  and  filed
separately with the Commission
<PAGE>
                                                Confidential Treatment Requested

Developers Licenses

ADE                        $****           16 user license

                           $****           4 user license

Vectus X                   $**** per developer

Vectus Applets             $**** per developer

Vectus ASP/HTML            $**** per developer

Bureaux-Link               $**** per developer

CTI-Link                   $**** per developer

Image-Link                 $**** per developer

Decision Master            $**** per developer

Functions pack             $*** per developer
                                      [No support offered on this product]

Rains

QAS

GB

Bank Wizard

****  Omitted  pursuant  to a  request  for  confidential  treatment  and  filed
separately with the CommissionGREENVILLE FIRST BANCSHARES, INC.

                            2000 STOCK INCENTIVE PLAN

<PAGE>

                        GREENVILLE FIRST BANCSHARES, INC.

                            2000 STOCK INCENTIVE PLAN

                                TABLE OF CONTENTS

ARTICLE I   DEFINITIONS...........................................1

ARTICLE II THE PLAN 4

   2.1    NAME....................................................4
          ----
   2.2    PURPOSE.................................................4
          -------
   2.3    EFFECTIVE DATE..........................................4
          --------------

ARTICLE III       PARTICIPANTS....................................4

ARTICLE IV ADMINISTRATION.........................................4

   4.1    DUTIES AND POWERS OF THE COMMITTEE......................4
          ----------------------------------
   4.2    INTERPRETATION; RULES...................................5
          ---------------------
   4.3    NO LIABILITY............................................5
          ------------
   4.4    MAJORITY RULE...........................................5
          -------------
   4.5    COMPANY ASSISTANCE......................................5
          ------------------

ARTICLE V  SHARES OF STOCK SUBJECT TO PLAN........................5

   5.2    ANTIDILUTION............................................6
          ------------

ARTICLE VI OPTIONS  7

   6.1    TYPES OF OPTIONS GRANTED................................7
          ------------------------
   6.2    OPTION GRANT AND AGREEMENT..............................7
          --------------------------
   6.3    OPTIONEE LIMITATIONS....................................7
          --------------------
   6.4    $100,000 LIMITATION.....................................8
          -------------------
   6.5    EXERCISE PRICE..........................................8
          --------------
   6.6    EXERCISE PERIOD.........................................8
          ---------------
   6.7    OPTION EXERCISE.........................................8
          ---------------
   6.8    RELOAD OPTIONS.........................................10
          --------------
   6.9    NONTRANSFERABILITY OF OPTION...........................10
          ----------------------------
   6.10   TERMINATION OF EMPLOYMENT OR SERVICE...................10
          ------------------------------------
   6.11   EMPLOYMENT RIGHTS......................................10
          -----------------
   6.12   CERTAIN SUCCESSOR OPTIONS..............................10
          -------------------------
   6.13    EFFECT OF A CORPORATE TRANSACTION.....................11
           ---------------------------------
   6.14   FORFEITURE BY ORDER OF REGULATORY AGENCY...............11
          ----------------------------------------

ARTICLE VII STOCK CERTIFICATES...................................11

ARTICLE VIII TERMINATION AND AMENDMENT...........................11

   8.2    EFFECT ON GRANTEE'S RIGHTS.............................12
          --------------------------

ARTICLE IX RELATIONSHIP TO OTHER COMPENSATION PLANS..............12

ARTICLE X MISCELLANEOUS..........................................12

                                       i

<PAGE>

EXHIBIT A to GREENVILLE FIRST BANCSHARES, INC.. 2000 STOCK INCENTIVE PLAN - Form
of Stock Option Agreement

                                       ii

<PAGE>

                       GREENVILLE FIRST BANCSHARES, INC.
                            2000 STOCK INCENTIVE PLAN

                                    ARTICLE I
                                   DEFINITIONS

         As used herein,  the following terms have the following meanings unless
the context clearly indicates to the contrary:

         "Board" shall mean the Board of Directors of the Company.

         "Cause" (i) with respect to the Company or any subsidiary which employs
the  recipient  of an  Option  (the  "recipient")  or for which  such  recipient
primarily performs services, the commission by the recipient of an act of fraud,
embezzlement,  theft or proven dishonesty,  or any other illegal act or practice
(whether or not resulting in criminal prosecution or conviction),  or any act or
practice which the Committee shall, in good faith,  deem to have resulted in the
recipient's becoming unbondable under the Company's or the subsidiary's fidelity
bond; (ii) the willful  engaging by the recipient in misconduct  which is deemed
by the Committee,  in good faith,  to be materially  injurious to the Company or
any subsidiary,  monetarily or otherwise, including, but not limited, improperly
disclosing trade secrets or other confidential or sensitive business information
and data about the Company or any subsidiaries and competing with the Company or
its  subsidiaries,  or  soliciting  employees,  consultants  or customers of the
Company in violation of law or any  employment  or other  agreement to which the
recipient  is a party;  or (iii) the willful and  continued  failure or habitual
neglect by the  recipient  to perform  his or her duties with the Company or the
subsidiary substantially in accordance with the operating and personnel policies
and  procedures  of the Company or the  subsidiary  generally  applicable to all
their  employees.  For  purposes  of this Plan,  no act or failure to act by the
recipient  shall be deemed be  "willful"  unless  done or  omitted to be done by
recipient not in good faith and without  reasonable  belief that the recipient's
action  or  omission  was  in  the  best  interest  of the  Company  and/or  the
subsidiary.  Notwithstanding the foregoing, if the recipient has entered into an
employment  agreement that is binding as of the date of employment  termination,
and if such employment agreement defines "Cause," then the definition of "Cause"
in such  agreement  shall apply to the  recipient  in this Plan.  "Cause"  under
either (i), (ii) or (iii) shall be determined by the Committee.

         "Code"  shall mean the United  States  Internal  Revenue  Code of 1986,
including  effective  date and transition  rules (whether or not codified).  Any
reference  herein to a specific section of the Code shall be deemed to include a
reference to any corresponding provision of future law.

         "Committee" shall mean a committee of at least two Directors  appointed
from time to time by the Board, having the duties and authority set forth herein
in  addition  to any other  authority  granted by the Board.  In  selecting  the
Committee, the Board shall consider (i) the benefits under Section 162(m) of the
Code of having a  Committee  composed of  "outside  directors"  (as that term is
defined  in the  Code)  for  certain  grants of  Options  to highly  compensated
executives,  and (ii) the  benefits  under  Rule  16b-3  of  having a  Committee
composed of either the entire Board or a Committee of at least two Directors who
are  Non-Employee  Directors  for  Options  granted to or held by any Section 16
Insider.  At any time that the Board shall not have  appointed  a  committee  as
described above, any reference herein to the Committee shall mean the Board.

         "Company"  shall  mean  Greenville  First  Bancshares,  Inc.,  a  South
Carolina corporation.

         "Corporate  Transaction"  shall  mean  the  occurrence  of  any  of the
following events:

<PAGE>

                  (i)      a  merger  or   consolidation   in  which  securities
                           possessing more than 50% of the total combined voting
                           power of the  Company's  outstanding  securities  are
                           transferred to a person or persons different from the
                           persons holding those securities immediately prior to
                           such transaction;

                  (ii)     the sale,  transfer  or other  disposition  of all or
                           substantially all of the Company's assets in complete
                           liquidation or dissolution of the Company; or

                  (iii)    the grant of any bank regulatory  approval (or notice
                           of no disapproval)  for permission to acquire control
                           of the Company or any of its banking subsidiaries.

         "Director"  shall  mean a member of the Board and any  person who is an
advisory or honorary  director  of the  Company if such person is  considered  a
director for the purposes of Section 16 of the Exchange  Act, as  determined  by
reference to such Section 16 and to the rules, regulations,  judicial decisions,
and  interpretative  or  "no-action"  positions  with  respect  thereto  of  the
Securities  and Exchange  Commission,  as the same may be in effect or set forth
from time to time.

         "Employee"  shall  mean a person who  constitutes  an  employee  of the
Company as such term is defined in the instructions to the Form S-8 Registration
Statement under the Securities Act of 1933, and also includes  non-employees  to
whom an offer of employment has been extended.

         "Exchange  Act" shall mean the  Securities  Exchange  Act of 1934.  Any
reference  herein to a specific  section of the  Exchange Act shall be deemed to
include a reference to any corresponding provision of future law.

         "Exercise Price" shall mean the price at which an Optionee may purchase
a share of Stock under a Stock Option Agreement.

         "Fair Market  Value" on any date shall mean (i) the closing sales price
of the Stock,  regular  way, on such date on the  national  securities  exchange
having the greatest volume of trading in the Stock during the thirty-day  period
preceding  the day the value is to be  determined  or, if such  exchange was not
open for  trading on such date,  the next  preceding  date on which it was open;
(ii) if the Stock is not traded on any national securities exchange, the average
of  the   closing   high  bid  and  low  asked   prices  of  the  Stock  on  the
over-the-counter  market on the day such  value is to be  determined,  or in the
absence of closing bids on such day, the closing bids on the next  preceding day
on which  there  were  bids;  or (iii) if the  Stock  also is not  traded on the
over-the-counter  market,  the fair market value as  determined in good faith by
the Board or the Committee  based on such relevant  facts as may be available to
the Board, which may include opinions of independent experts, the price at which
recent  sales have been made,  the book  value of the Stock,  and the  Company's
current and future earnings.

         "Incentive  Stock Option" shall mean an option to purchase any stock of
the Company,  which complies with and is subject to the terms,  limitations  and
conditions  of  Section  422 of the Code and any  regulations  promulgated  with
respect thereto.

         "Non-Employee  Director" shall have the meaning set forth in Rule 16b-3
under the  Exchange  Act, as the same may be in effect from time to time,  or in
any successor  rule thereto,  and shall be determined for all purposes under the
Plan according to interpretative  or "no-action"  positions with respect thereto
issued by the Securities and Exchange Commission.

<PAGE>

         "Officer" shall mean a person who constitutes an officer of the Company
for the purposes of Section 16 of the Exchange  Act, as  determined by reference
to such  Section  16 and to the  rules,  regulations,  judicial  decisions,  and
interpretative  or "no-action"  positions with respect thereto of the Securities
and Exchange Commission,  as the same may be in effect or set forth from time to
time.

         "Option"  shall  mean an  option,  whether  or not an  Incentive  Stock
Option,  to purchase  Stock  granted  pursuant to the  provisions  of Article VI
hereof.

         "Optionee"  shall  mean a person  to whom an  Option  has been  granted
hereunder.

         "Parent"  shall  mean any  corporation  (other  than the  Company  or a
Subsidiary) in an unbroken chain of corporations  ending with the Company if, at
the time of the grant (or modification) of the Option,  each of the corporations
other than the Company or a Subsidiary owns stock  possessing 50% or more of the
total  combined  voting  power  of the  classes  of  stock  in one of the  other
corporations in such chain.

         "Permanent and Total  Disability"  shall have the same meaning as given
to that term by Code Section 22(e)(3) and any regulations or rulings promulgated
thereunder.

         "Plan" shall mean the  Greenville  First  Bancshares,  Inc.  2000 Stock
Incentive Plan, the terms of which are set forth herein.

         "Purchasable"  shall  refer  to  Stock  which  may be  purchased  by an
Optionee  under the terms of this Plan on or after a certain  date  specified in
the applicable Stock Option Agreement.

         "Qualified  Domestic  Relations Order" shall have the meaning set forth
in the Code or in the Employee  Retirement  Income  Security Act of 1974, or the
rules and regulations promulgated under the Code or such Act.

         "Reload Option" shall have the meaning set forth in Section 6.8 hereof.

         "Section  16  Insider"  shall  mean any  person  who is  subject to the
provisions  of  Section  16 of the  Exchange  Act,  as  provided  in Rule  16a-2
promulgated pursuant to the Exchange Act.

         "Stock" shall mean the Common Stock,  par value $0.01 per share, of the
Company  or, in the event  that the  outstanding  shares of Stock are  hereafter
changed into or exchanged  for shares of a different  stock or securities of the
Company or some other entity, such other stock or securities.

         "Stock Option  Agreement"  shall mean an agreement  between the Company
and an Optionee under which the Optionee may purchase Stock hereunder,  a sample
form of which is  attached  hereto as Exhibit A (which form may be varied by the
Committee in granting an Option).

         "Subsidiary"  shall mean any corporation (other than the Company) in an
unbroken chain of corporations beginning with the Company if, at the time of the
grant (or modification) of the Option,  each of the corporations  other than the
last  corporation in the unbroken chain owns stock possessing 50% or more of the
total  combined  voting  power  of all  classes  of  stock  in one of the  other
corporations in such chain.

<PAGE>

                                   ARTICLE II
                                    THE PLAN

         2.1 Name.  This Plan shall be known as  "Greenville  First  Bancshares,
Inc. 2000 Stock Incentive Plan."

         2.2 Purpose. The purpose of the Plan is to advance the interests of the
Company,  its  Subsidiaries,  and its  shareholders  by affording  Employees and
Directors  of the  Company and its  Subsidiaries  an  opportunity  to acquire or
increase  their  proprietary  interests  in the  Company.  The  objective of the
issuance  of the  Options is to promote  the  growth  and  profitability  of the
Company and its  Subsidiaries  because the  Optionees  will be provided  with an
additional incentive to achieve the Company's  objectives through  participation
in its success and growth and by encouraging their continued association with or
service to the Company.

         2.3  Effective  Date.  The Plan shall become  effective on February __,
2000;  provided,  however,  that if the  shareholders  of the  Company  have not
approved the Plan on or prior to the first  anniversary of such effective  date,
then all options  granted under the Plan shall be  non-incentive  Stock Options.
If, at the time of any amendment to the Plan,  shareholder  approval is required
by the Code for Incentive  Stock Options and such  shareholder  approval has not
been obtained (or is not obtained within 12 months thereof), any Incentive Stock
Options  issued under the Plan shall  automatically  become options which do not
qualify as Incentive Stock Options.

                                   ARTICLE III
                                  PARTICIPANTS

         The class of persons  eligible to participate in the Plan shall consist
of all Directors and Employees of the Company or any Subsidiary.

<PAGE>

                                   ARTICLE IV
                                 ADMINISTRATION

         4.1 Duties and Powers of the Committee.  The Plan shall be administered
by the Committee.  The Committee shall select one of its members as its Chairman
and shall hold its  meetings at such times and places as it may  determine.  The
Committee  shall  keep  minutes  of its  meetings  and shall make such rules and
regulations  for the  conduct  of its  business  as it may deem  necessary.  The
Committee shall have the power to act by unanimous  written consent in lieu of a
meeting, and to meet telephonically.  In administering the Plan, the Committee's
actions  and  determinations  shall be binding on all  interested  parties.  The
Committee  shall  have  the  power  to  grant  Options  in  accordance  with the
provisions  of the Plan and may grant  Options  singly,  in  combination,  or in
tandem.  Subject to the  provisions of the Plan,  the  Committee  shall have the
discretion and authority to determine those  individuals to whom Options will be
granted and whether such Options  shall be  accompanied  by the right to receive
Reload Options, the number of shares of Stock subject to each Option, such other
matters as are specified  herein,  and any other terms and conditions of a Stock
Option Agreement.  The Committee shall also have the discretion and authority to
delegate to any Officer its power to grant  Options under the Plan to Employees,
but  not  to  Employees  who  are  Officers  or  Directors.  To the  extent  not
inconsistent with the provisions of the Plan, the Committee may give an Optionee
an election to  surrender  an Option in exchange  for the grant of a new Option,
and shall have the  authority  to amend or modify an  outstanding  Stock  Option
Agreement,  or to waive  any  provision  thereof,  provided  that  the  Optionee
consents to such action.

         4.2  Interpretation;  Rules.  Subject to the express  provisions of the
Plan, the Committee also shall have complete authority to interpret the Plan, to
prescribe, amend, and rescind rules and regulations relating to it, to determine
the details and provisions of each Stock Option Agreement, and to make all other
determinations  necessary  or  advisable  for the  administration  of the  Plan,
including,  without  limitation,  the  amending  or altering of the Plan and any
Options granted hereunder as may be required to comply with or to conform to any
federal,  state,  or local laws or  regulations.  If an option granted under the
Plan is  intended  to be an  Incentive  Stock  Option but does not qualify as an
Incentive  Stock  Option for any reason,  then the option  granted  shall remain
valid but shall be a non-Incentive Stock Option.

         4.3 No Liability. Neither any member of the Board nor any member of the
Committee  shall be liable to any  person for any act or  determination  made in
good faith with respect to the Plan or any Option granted hereunder.

         4.4  Majority  Rule. A majority of the members of the  Committee  shall
constitute a quorum,  and any action taken by a majority at a meeting at which a
quorum is present,  or any action taken without a meeting evidenced by a writing
executed by all the members of the Committee, shall constitute the action of the
Committee.

         4.5  Company  Assistance.  The  Company  shall  supply  full and timely
information to the Committee on all matters relating to eligible persons,  their
employment,  death, retirement,  disability, or other termination of employment,
and such other pertinent  facts as the Committee may require.  The Company shall
furnish the Committee with such clerical and other assistance as is necessary in
the performance of its duties.

                                    ARTICLE V
                         SHARES OF STOCK SUBJECT TO PLAN

         5.1  Limitations.  The  maximum  number  of  shares  that may be issued
hereunder  shall  initially be 172,500 and  thereafter  shall  automatically  be
increased  each time the Company issues  additional  shares of Stock so that the
total number of shares  issuable  hereunder  shall at all times equal 15% of the
then  outstanding  shares  of Stock,  unless in any case the Board of  Directors
adopts a resolution providing that the number of shares issuable under this Plan
shall not be so increased. Notwithstanding the above, the total number of shares
of Stock  issuable  pursuant to Incentive  Stock Options may not be increased to
more than 172,500  (other than  pursuant to  antidilution  adjustments)  without
shareholder  approval.  In  addition,  the  number of shares  that may be issued
hereunder  shall be  subject  to any  antidilution  adjustment  pursuant  to the
provisions of Section 5.2 hereof. Any or all shares of Stock subject to the Plan
may be issued in any  combination  of Incentive  Stock Options or  non-Incentive
Stock Options. Shares subject to an Option may be either authorized and unissued
shares or shares issued and later acquired by the Company. The shares covered by
any unexercised  portion of an Option that has terminated for any reason (except
as set forth in the following  paragraph)  may again be optioned under the Plan,
and such shares  shall not be  considered  as having been  optioned or issued in
computing  the  number  of  shares  of  Stock  remaining  available  for  option
hereunder.

         If Options  are  issued in  respect of options to acquire  stock of any
entity  acquired,  by merger or otherwise,  by the Company (or any Subsidiary of
the Company),  to the extent that such issuance shall not be  inconsistent  with
the terms,  limitations  and  conditions of Code section 422 or Rule 16b-3 under
the Exchange Act, the aggregate  number of shares of Stock for which Options may
be granted  hereunder shall  automatically  be increased by the number of shares
subject to the Options so issued;  provided,  however,

<PAGE>

that the  aggregate  number of shares of Stock for which  Options may be granted
hereunder  shall  automatically  be decreased by the number of shares covered by
any  unexercised  portion  of an Option so issued  that has  terminated  for any
reason,  and the  shares  subject  to any such  unexercised  portion  may not be
optioned to any other person.

         5.2      Antidilution.

                  (a) If (x) the outstanding shares of Stock are changed into or
exchanged  for a different  number or kind of shares or other  securities of the
Company by reason of merger,  consolidation,  reorganization,  recapitalization,
reclassification,  combination  or exchange  of shares,  or stock split or stock
dividend, (y) any spin-off,  spin-out or other distribution of assets materially
affects the price of the Company's  stock,  or (z) there is any  assumption  and
conversion  to the Plan by the  Company  of an  acquired  company's  outstanding
option grants, then:

                           (i) the  aggregate  number  and   kind  of  shares of
                  Stock  for  which  Options  may be  granted hereunder shall be
                  adjusted proportionately by the Committee; and

                           (ii) the rights of Optionees  (concerning  the number
                  of shares  subject to Options and the  Exercise  Price)  under
                  outstanding  Options shall be adjusted  proportionately by the
                  Committee.

                  (b) If the Company shall be a party to any  reorganization  in
which it does not survive,  involving merger,  consolidation,  or acquisition of
the stock or substantially all the assets of the Company, the Committee,  in its
sole discretion, may (but is not required to):

                           (i) notwithstanding other provisions hereof,  declare
                  that  all  Options   granted   under  the  Plan  shall  become
                  exercisable immediately  notwithstanding the provisions of the
                  respective Stock Option Agreements  regarding  exercisability,
                  that  all such  Options  shall  terminate  30 days  after  the
                  Committee  gives  written  notice  of the  immediate  right to
                  exercise all such Options and of the decision to terminate all
                  Options not exercised within such 30-day period; and/or

                           (ii) notify all  Optionees  that all Options  granted
                  under the Plan shall be assumed by the  successor  corporation
                  or  substituted  on an equitable  basis with options issued by
                  such successor corporation.

                  (c)  If  the  Company  is to be  liquidated  or  dissolved  in
connection with a reorganization  described in Section 5.2(b), the provisions of
such Section  shall  apply.  In all other  instances,  the adoption of a plan of
dissolution  or  liquidation  of  the  Company  shall,   notwithstanding   other
provisions hereof, cause every Option outstanding under the Plan to terminate to
the extent not  exercised  prior to the adoption of the plan of  dissolution  or
liquidation by the shareholders, provided that, notwithstanding other provisions
hereof,  the  Committee  may declare all  Options  granted  under the Plan to be
exercisable  at any time on or before  the fifth  business  day  following  such
adoption   notwithstanding   the  provisions  of  the  respective  Stock  Option
Agreements regarding exercisability.

                  (d) The adjustments described in paragraphs (a) through (c) of
this  Section  5.2,  and the manner of their  application,  shall be  determined
solely by the Committee, and any such adjustment may provide for the elimination
of fractional share interests;  provided,  however,  that any adjustment made by
the  Board or the  Committee  shall be made in a manner  that  will not cause an
Incentive  Stock  Option  to be  other  than an  Incentive  Stock  Option  under
applicable statutory and regulatory  provisions.

<PAGE>

The  adjustments  required under this Article V shall apply to any successors of
the Company  and shall be made  regardless  of the number or type of  successive
events requiring such adjustments.

                                   ARTICLE VI
                                     OPTIONS

         6.1 Types of Options Granted. The Committee may, under this Plan, grant
either  Incentive  Stock  Options or Options  which do not qualify as  Incentive
Stock  Options.  Within the  limitations  provided  in this Plan,  both types of
Options  may be granted to the same  person at the same  time,  or at  different
times, under different terms and conditions, as long as the terms and conditions
of  each  Option  are  consistent  with  the  provisions  of the  Plan.  Without
limitation of the foregoing,  Options may be granted subject to conditions based
on the  financial  performance  of the Company or any other factor the Committee
deems relevant.

         6.2 Option Grant and Agreement.  Each Option granted hereunder shall be
evidenced by minutes of a meeting or the written consent of the Committee and by
a written Stock Option Agreement  executed by the Company and the Optionee.  The
terms of the Option, including the Option's duration, time or times of exercise,
exercise price,  whether the Option is intended to be an Incentive Stock Option,
and  whether  the Option is to be  accompanied  by the right to receive a Reload
Option, shall be stated in the Stock Option Agreement.  In structuring the terms
of each Option,  the Committee shall follow the guidelines set forth in the FDIC
statement of policy relating to applications  for deposit  insurance,  including
that the terms should  encourage each Optionee to remain involved in the Company
and/or its Subsidiaries, such as by having a vesting period of equal percentages
each year over the initial  three years  following the grant of the Option and a
requirement  that the Option be  exercised or expire  within a  reasonable  time
after  termination as an active  officer,  employee,  or director.  No Incentive
Stock  Option may be granted  more than ten years  after the earlier to occur of
the effective date of the Plan or the date the Plan is approved by the Company's
shareholders.  Separate Stock Option Agreements may be used for Options intended
to be Incentive Stock Options and those not so intended,  but any failure to use
such separate agreements shall not invalidate, or otherwise adversely affect the
Optionee's interest in, the Options evidenced thereby.

         6.3 Optionee  Limitations.  The Committee  shall not grant an Incentive
Stock  Option to any  person  who,  at the time the  Incentive  Stock  Option is
granted:

                  (a)  is  not  an  employee  of  the  Company  or  any  of  its
Subsidiaries (as the term "employee" is defined by the Code); or

                  (b) owns or is considered to own stock possessing at least 10%
of the total combined voting power of all classes of stock of the Company or any
of  its  Parent  or  Subsidiary  corporations;   provided,  however,  that  this
limitation  shall not apply if at the time an Incentive  Stock Option is granted
the  Exercise  Price is at  least  110% of the Fair  Market  Value of the  Stock
subject to such  Option and such  Option by its terms  would not be  exercisable
after five years from the date on which the Option is  granted.  For the purpose
of this  subsection  (b), a person  shall be  considered  to own:  (i) the stock
owned,  directly  or  indirectly,  by or for  his or her  brothers  and  sisters
(whether by whole or half blood), spouse, ancestors and lineal descendants; (ii)
the stock owned, directly or indirectly,  by or for a corporation,  partnership,
estate,  or trust in  proportion to such person's  stock  interest,  partnership
interest or beneficial  interest therein;  and (iii) the stock which such person
may purchase  under any  outstanding  options of the Company or of any Parent or
Subsidiary.

<PAGE>

         6.4 $100,000 Limitation.  Except as provided below, the Committee shall
not grant an Incentive  Stock Option to, or modify the  exercise  provisions  of
outstanding  Incentive  Stock  Options  held by, any person who, at the time the
Incentive  Stock Option is granted (or modified),  would thereby receive or hold
any Incentive  Stock Options of the Company and any Parent or  Subsidiary,  such
that the aggregate Fair Market Value  (determined as of the respective  dates of
grant or  modification  of each  option) of the stock with respect to which such
Incentive  Stock Options are  exercisable for the first time during any calendar
year is in excess of $100,000 (or such other limit as may be  prescribed  by the
Code from time to time); provided that the foregoing restriction on modification
of  outstanding  Incentive  Stock Options shall not preclude the Committee  from
modifying  an  outstanding  Incentive  Stock  Option  if,  as a  result  of such
modification  and with the  consent  of the  Optionee,  such  Option  no  longer
constitutes  an  Incentive  Stock  Option;  and provided  that,  if the $100,000
limitation (or such other  limitation  prescribed by the Code) described in this
Section  6.4  is  exceeded,   the  Incentive  Stock  Option,   the  granting  or
modification of which resulted in the exceeding of such limit,  shall be treated
as an  Incentive  Stock  Option up to the  limitation  and the  excess  shall be
treated as an Option not qualifying as an Incentive Stock Option.

         6.5 Exercise  Price.  The Exercise  Price of the Stock  subject to each
Option  shall be  determined  by the  Committee.  Subject to the  provisions  of
Section  6.3(b)  hereof,  the Exercise Price of an Option shall not be less than
the Fair  Market  Value of the Stock as of the date the Option is granted (or in
the case of an Incentive Stock Option that is subsequently modified, on the date
of such modification).

         6.6 Exercise Period. The period for the exercise of each Option granted
hereunder shall be determined by the Committee,  but the Stock Option  Agreement
with  respect  to each  Option  shall  provide  that  such  Option  shall not be
exercisable  after ten years  from the date of grant  (or  modification)  of the
Option.

         6.7      Option Exercise.

                  (a) Unless otherwise provided in the Stock Option Agreement or
Section 6.6 hereof,  an Option may be exercised at any time or from time to time
during the term of the  Option as to any or all full  shares  which have  become
Purchasable  under the provisions of the Option,  but not at any time as to less
than 100 shares unless the remaining  shares that have become so Purchasable are
less than 100 shares. The Committee shall have the authority to prescribe in any
Stock Option  Agreement that the Option may be exercised only in accordance with
a vesting schedule during the term of the Option.

                  (b) An  Option  shall  be  exercised  by (i)  delivery  to the
Company at its principal  office a written  notice of exercise with respect to a
specified  number of shares of Stock and (ii)  payment  to the  Company  at that
office of the full  amount of the  Exercise  Price for such  number of shares in
accordance  with Section 6.7(c).  If requested by an Optionee,  an Option may be
exercised with the  involvement of a stockbroker in accordance  with the federal
margin  rules  set  forth  in  Regulation  T (in  which  case  the  certificates
representing the underlying  shares will be delivered by the Company directly to
the stockbroker).

                  (c) The Exercise  Price is to be paid in full in cash upon the
exercise  of the  Option  and the  Company  shall  not be  required  to  deliver
certificates  for the  shares  purchased  until  such  payment  has  been  made;
provided,  however, that in lieu of cash, in the Company's discretion all or any
portion of the Exercise  Price may be paid by tendering to the Company shares of
Stock duly endorsed for transfer and owned by the Optionee,  or by authorization
to the Company to withhold shares of

<PAGE>

Stock  otherwise  issuable  upon  exercise  of the  Option,  in each  case to be
credited  against the Exercise  Price at the Fair Market Value of such shares on
the date of exercise (however,  no fractional shares may be so transferred,  and
the Company shall not be obligated to make any cash payments in consideration of
any excess of the  aggregate  Fair Market Value of shares  transferred  over the
aggregate  Exercise Price);  provided  further,  that the Board may provide in a
Stock Option Agreement (or may otherwise determine in its sole discretion at the
time of  exercise)  that,  in lieu of cash or  shares,  all or a portion  of the
Exercise Price may be paid by the Optionee's  execution of a recourse note equal
to the Exercise Price or relevant  portion  thereof,  subject to compliance with
applicable state and federal laws, rules and  regulations.  Notwithstanding  the
above, the Company shall not be obligated to accept tender of shares of Stock as
payment  of the  Exercise  Price if doing so  would  result  in a charge  to the
Company's earnings for financial reporting purposes.

                  (d) In addition to and at the time of payment of the  Exercise
Price,  the  Optionee  shall pay to the  Company in cash the full  amount of any
federal,  state,  and  local  income,  employment,  or other  withholding  taxes
applicable to the taxable income of such Optionee  resulting from such exercise;
provided,  however,  that in the  discretion  of the  Committee any Stock Option
Agreement may provide that all or any portion of such tax obligations,  together
with additional  taxes not exceeding the actual  additional  taxes to be owed by
the Optionee as a result of such exercise, may, upon the irrevocable election of
the  Optionee,  be paid by tendering  to the Company  whole shares of Stock duly
endorsed for  transfer and owned by the  Optionee,  or by  authorization  to the
Company to withhold  shares of Stock  otherwise  issuable  upon  exercise of the
Option,  in either case in that number of shares  having a Fair Market  Value on
the date of exercise  equal to the amount of such taxes thereby being paid,  and
subject to such  restrictions as to the approval and timing of any such election
as the Committee may from time to time  determine to be necessary or appropriate
to satisfy the  conditions  of the  exemption  set forth in Rule 16b-3 under the
Exchange Act, if such rule is applicable.

                  (e) The  holder of an Option  shall not have any of the rights
of a shareholder with respect to the shares of Stock subject to the Option until
such shares have been issued and  transferred  to the Optionee upon the exercise
of the Option.

<PAGE>

         6.8      Reload Options.

                  (a) The Committee may specify in a Stock Option  Agreement (or
may otherwise  determine in its sole  discretion)  that a Reload Option shall be
granted,  without  further  action  of the  Committee,  (i) to an  Optionee  who
exercises an Option (including a Reload Option) by surrendering  shares of Stock
in payment of amounts  specified in Sections  6.7(c) or 6.7(d) hereof,  (ii) for
the same number of shares as are  surrendered  to pay such amounts,  (iii) as of
the date of such payment and at an Exercise Price equal to the Fair Market Value
of the Stock on such date,  and (iv)  otherwise on the same terms and conditions
as the Option whose  exercise has  occasioned  such payment,  except as provided
below and subject to such other contingencies, conditions, or other terms as the
Committee shall specify at the time such exercised Option is granted;  provided,
that the  Committee  may  require  that the  shares  surrendered  in  payment as
provided above must have been held by the Optionee for at least six months prior
to such surrender.

                  (b) Unless provided otherwise in the Stock Option Agreement, a
Reload  Option may not be  exercised  by an  Optionee  (i) prior to the end of a
one-year period from the date that the Reload Option is granted, and (ii) unless
the Optionee retains beneficial  ownership of the shares of Stock issued to such
Optionee upon exercise of the Option referred to above in Section  6.8(a)(i) for
a period of one year from the date of such exercise.

         6.9  Nontransferability  of Option.  Other than as provided  below,  no
Option shall be  transferable  by an Optionee  other than by will or the laws of
descent  and  distribution  or,  in the  case of  non-Incentive  Stock  Options,
pursuant to a Qualified Domestic Relations Order, and, during the lifetime of an
Optionee,  Options  shall  be  exercisable  only  by such  Optionee  (or by such
Optionee's guardian or legal representative,  should one be appointed). However,
a Non-Incentive Stock Option may, in connection with the Optionee's estate plan,
be  assigned  in  whole or in part  during  Optionee's  lifetime  to one or more
members of the Optionee's  immediate  family or to a trust  established  for the
exclusive benefit of one or more such family members. The assigned portion shall
be exercisable only by the person or persons who acquire a proprietary  interest
in the Option pursuant to such assignment.  The terms applicable to the assigned
portion shall be the same as those in effect for this Option  immediately  prior
to such  assignment  and  shall be set  forth in such  documents  issued  to the
assignee as the Committee may deem appropriate.

         6.10 Termination of Employment or Service. The Committee shall have the
power to specify the effect upon an Optionee's  right to exercise an Option upon
termination   of  such   Optionee's   employment   or  service   under   various
circumstances,  which effect may include  immediate or deferred  termination  of
such Optionee's  rights under an Option, or acceleration of the date at which an
Option may be exercised in full.  Unless a Stock Option  Agreement  specifically
provides  otherwise,  in the event the recipient of an Option is terminated from
his or her  employment or other service to the Company or its  subsidiaries  for
Cause,  Options,  whether  vested or  unvested,  granted  to such  person  shall
terminate immediately and shall not thereafter be exercisable.

         6.11  Employment  Rights.  Nothing  in the Plan or in any Stock  Option
Agreement  shall confer on any person any right to continue in the employ of the
Company or any of its Subsidiaries, or shall interfere in any way with the right
of the Company or any of its Subsidiaries to terminate such person's  employment
at any time.

         6.12 Certain Successor Options. To the extent not inconsistent with the
terms,  limitations  and  conditions  of Code  section  422 and any  regulations
promulgated with respect thereto,  an Option issued in respect of an option held
by an employee to acquire stock of any entity acquired,  by merger

<PAGE>

or  otherwise,  by the Company (or any  Subsidiary  of the  Company) may contain
terms that differ from those stated in this Article VI, but solely to the extent
necessary to preserve for any such employee the rights and benefits contained in
such predecessor option, or to satisfy the requirements of Code section 424(a).

         6.13  Effect of a Corporate  Transaction.  All  Options,  to the extent
outstanding  at the time of a  Corporate  Transaction  but not  otherwise  fully
exercisable,   shall  automatically   accelerate  so  that  the  Options  shall,
immediately  prior to the effective  date of the Corporate  Transaction,  become
exercisable  for all  shares  at the time  subject  to such  Options  and may be
exercised for any or all of those shares as fully vested shares of Stock.

         6.14 Forfeiture by Order of Regulatory  Agency. If the Company's or any
of its  financial  institution  Subsidiaries'  capital  falls  below the minimum
requirements  contained in 12 CFR 3 or below a higher  requirement as determined
by the  Company's or such  Subsidiary's  primary bank  regulatory  agency,  such
agency may direct the Company to require  Optionees  to exercise or forfeit some
or all of their Options.  All options granted under this Plan are subject to the
terms of any such directive.

                                   ARTICLE VII
                               STOCK CERTIFICATES

         The Company  shall not be required to issue or deliver any  certificate
for shares of Stock purchased upon the exercise of any Option granted  hereunder
or any portion thereof prior to fulfillment of all of the following conditions:

         (a) The  admission of  such shares to listing on all stock exchanges on
which the Stock is then listed;

         (b) The completion of any  registration or other  qualification of such
shares which the Committee  shall deem necessary or advisable  under any federal
or state law or under the rulings or  regulations of the Securities and Exchange
Commission or any other governmental regulatory body;

         (c) The obtaining of any approval or other  clearance  from any federal
or state  governmental  agency or body which the Committee shall determine to be
necessary or advisable; and

         (d) The lapse of such reasonable  period of time following the exercise
of the  Option  as the Board  from time to time may  establish  for  reasons  of
administrative convenience.

         Stock  certificates  issued and delivered to Optionees  shall bear such
restrictive legends as the Company shall deem necessary or advisable pursuant to
applicable  federal and state  securities  laws. The inability of the Company to
obtain approval from any regulatory body having  authority deemed by the Company
to be necessary to the lawful issuance and sale of any Stock pursuant to Options
shall relieve the Company of any liability with respect to the  non-issuance  or
sale of the  Stock as to which  such  approval  shall  not have  been  obtained.
However, the Company shall use its best efforts to obtain all such approvals.
<PAGE>

                                  ARTICLE VIII
                            TERMINATION AND AMENDMENT

         8.1 Termination and Amendment.  The Board may at any time terminate the
Plan;  provided,  however,  that the Board  (unless its actions are  approved or
ratified by the  shareholders  of the Company  within  twelve months of the date
that the Board amends the Plan) may not amend the Plan to:

                  (a)  Increase  the total  number  of shares of Stock  issuable
pursuant to Incentive  Stock Options under the Plan,  except as  contemplated in
Section 5.2 hereof; or

                  (b)  Change  the  class  of  employees   eligible  to  receive
Incentive Stock Options that may participate in the Plan.

         8.2  Effect  on  Optionee's  Rights.  No  termination,   amendment,  or
modification  of the Plan shall  affect  adversely a  Optionee's  rights under a
Stock  Option  Agreement  without  the  consent  of the  Optionee  or his  legal
representative.

                                   ARTICLE IX
                    RELATIONSHIP TO OTHER COMPENSATION PLANS

         The  adoption  of the Plan  shall not affect  any other  stock  option,
incentive,  or other  compensation plans in effect for the Company or any of its
Subsidiaries;  nor shall the adoption of the Plan preclude the Company or any of
its  Subsidiaries  from  establishing  any  other  form of  incentive  or  other
compensation  plan for  employees  or  Directors  of the  Company  or any of its
Subsidiaries.

                                    ARTICLE X
                                  MISCELLANEOUS

         10.1  Replacement  or Amended  Grants.  At the sole  discretion  of the
Committee,  and  subject  to the terms of the Plan,  the  Committee  may  modify
outstanding Options or accept the surrender of outstanding Options and grant new
Options in  substitution  for them.  However no  modification of an Option shall
adversely affect a Optionee's  rights under a Stock Option Agreement without the
consent of the Optionee or his legal representative.

         10.2 Forfeiture for Competition.  If a Optionee  provides services to a
competitor  of the Company or any of its  Subsidiaries,  whether as an employee,
officer, director, independent contractor, consultant, agent, or otherwise, such
services being of a nature that can reasonably be expected to involve the skills
and experience  used or developed by the Optionee  while an Employee,  then that
Optionee's rights under any Options outstanding hereunder shall be forfeited and
terminated  subject  in each  case to a  determination  to the  contrary  by the
Committee.

         10.3 Leave of Absence.  Unless provided otherwise in a particular Stock
Option  Agreement,  the  following  provisions  shall  apply upon an  Optionee's
commencement of an authorized leave of absence:

         (a) The exercise  schedule in effect for such Option shall be frozen as
of the  first day of the  authorized  leave,  and the  Option  shall not  become
exercisable for any additional installments of shares of Stock during the period
Optionee remains on such leave.

         (b) Should the Optionee  resume active  Employee  status within 60 days
after the start date of the authorized  leave,  Optionee shall,  for purposes of
the applicable  exercise schedule,  receive service credit for the entire period
of such leave.  If the Optionee  does not resume active  Employee  status within
such 60-day period,  then no service

<PAGE>

credit shall be given for the entire period of such leave.

         (c) If the Option is an  Incentive  Stock  Option,  then the  following
additional provision shall apply:

                           If the leave of absence continues for more than three
         months, then the Option shall automatically  convert to a Non-Incentive
         Stock  Option  under the Federal tax laws upon the  expiration  of such
         three-month  period,  unless  the  Optionee's  reemployment  rights are
         guaranteed  by  statute  or  written  agreement.   Following  any  such
         conversion  of the  Option,  all  subsequent  exercises  of the Option,
         whether effected before or after  Optionee's  return to active Employee
         status,  shall result in an immediate  taxable  event,  and the Company
         shall be required to collect from Optionee the Federal, state and local
         income and employment withholding taxes applicable to such exercise.

         (d) In no event shall the Option become  exercisable for any additional
shares or otherwise  remain  outstanding  if Optionee  does not resume  Employee
status prior to the Expiration Date of the option term.

         10.4 Plan  Binding on  Successors.  The Plan shall be binding  upon the
successors and assigns of the Company.

         10.5 Headings, etc., No Part of Plan. Headings of Articles and Sections
hereof are inserted for convenience  and reference;  they do not constitute part
of the Plan.

         10.6  Section 16  Compliance.  With  respect  to  Section 16  Insiders,
transactions  under  this  Plan are  intended  to  comply  with  all  applicable
conditions of Rule 16b-3 or its successors under the Exchange Act. To the extent
any  provision  of the Plan or action by the  Committee  fails to so comply,  it
shall be deemed void to the extent  permitted by law and deemed advisable by the
Committee.  In addition,  if necessary to comply with Rule 16b-3 with respect to
any grant of an Option  hereunder,  and in  addition  to any  other  vesting  or
holding period specified  hereunder or in an applicable Stock Option  Agreement,
any Section 16 Insider  acquiring an Option shall be required to hold either the
Option or the  underlying  shares of Stock  obtained upon exercise of the Option
for a minimum of six months.

         IN WITNESS WHEREOF,  the Company has caused this Plan to be executed as
of March 21, 2000, in accordance with the authority  provided by the
Board of Directors.

                                    GREENVILLE FIRST BANCSHARES, INC..

                                    By: /s/ R. Arthur Seaver, Jr.
                                        ----------------------------------------
                                             Name: R. Arthur Seaver, Jr.
                                             Title: President

<PAGE>

                                    EXHIBIT A
                                       to
                        GREENVILLE FIRST BANCSHARES, INC.
                            2000 STOCK INCENTIVE PLAN

                   Form of Employee of Stock Option Agreement

                        GREENVILLE FIRST BANCSHARES, INC.
                             STOCK OPTION AGREEMENT

         THIS STOCK OPTION  AGREEMENT  (this  "Agreement") is entered into as of
this ___ day of February,  2000,  between  Greenville First Bancshares,  Inc., a
South Carolina corporation (the "Company"), and __________ (the "Optionee").

         WHEREAS,  on February __,  2000,  the Board of Directors of the Company
adopted a Stock Incentive Plan known as the "Greenville First  Bancshares,  Inc.
2000 Stock Incentive Plan" (the "Stock  Incentive  Plan"),  and recommended that
the Plan be approved by the Company's shareholders; and

         WHEREAS,  the  Committee  has  granted the  Optionee a stock  option to
purchase the number of shares of the Company's  common stock as set forth below,
and in  consideration  of the granting of that stock option the Optionee intends
to remain in the employ of the Company; and

         WHEREAS,  the Company  considers it desirable  and in its best interest
that the Optionee be provided an inducement to acquire an ownership  interest in
the Company and an  additional  incentive to advance the interest of the Company
through the grant of an option to purchase shares of common stock of the Company
pursuant to the Stock Incentive Plan; and

         WHEREAS,  the Company and the  Optionee  desire to enter into a written
agreement  with respect to such option in  accordance  with the Stock  Incentive
Plan.

         NOW,  THEREFORE,  as an  employment  incentive  and to encourage  stock
ownership,  and also in consideration of the mutual covenants  contained herein,
the Company and the Optionee agree as follows.

1. Incorporation of Stock Incentive Plan. This option is granted pursuant to the
provisions  of the Stock  Incentive  Plan and the terms and  definitions  of the
Stock  Incentive  Plan are  incorporated  herein  by  reference  and made a part
hereof. A copy of the Stock Incentive Plan has been delivered to, and receipt is
hereby acknowledged by, the Optionee.

2. Grant of Option.  Subject to the  provisions  stated in this  Agreement,  the
Company  hereby  evidences its grant to the  Optionee,  not in lieu of salary or
other  compensation,  of the right and option (the  "Option")  to  purchase  the
number of shares of the Company's  Common Stock,  par value $0.01 per share (the
"Stock"), set forth below,  exercisable in the amounts and at the time specified
below.  This Option is intended to be an Incentive  Stock Option,  as defined in
the Internal Revenue Code.

         Number of Shares:          *****

         Exercise Price:            $ *** per share
<PAGE>

Option  Vesting  Schedule:          Options are  exercisable
                                    with respect the shares of Stock as follows,
                                    subject in each case to continued employment
                                    by  the  Company  or  a  subsidiary  of  the
                                    Company  through  such date,  and subject to
                                    the   provisions   of   Section  7  of  this
                                    Agreement:

                          No. of Shares             Vesting Date
                          *****                     _________  __, 2001
                          *****                     _________  __, 2002
                          *****                     _________  __, 2003
                          *****                     _________  __, 2004
                          *****                     _________  __, 2005

         Option Exercise Period:    All options  expire and are void unless
                                    exercised on or before  ___________
                                    ___, 2010.

         3. Exercise  Terms.  The Optionee must exercise the Option for at least
the  lesser of 100  shares or the  number of shares of  Purchasable  Stock as to
which the Option  remains  unexercised.  If this  Option is not  exercised  with
respect to all or any part of the shares  subject  to this  Option  prior to its
expiration, the shares with respect to which this Option was not exercised shall
no longer be subject to this Option.

         4. Restrictions on Transferability.  No Option shall be transferable by
an  Optionee  other  than by will or the laws of  descent  and  distribution  or
pursuant to a Qualified  Domestic  Relations  Order.  During the  lifetime of an
Optionee,  Options  shall  be  exercisable  only  by such  Optionee  (or by such
Optionee's  guardian  or legal  representative,  should one be  appointed).  The
shares purchased pursuant to the exercise of an Incentive Stock Option shall not
be transferred by the Optionee  except  pursuant to the Optionee's  will, or the
laws of  descent  and  distribution,  until  such date which is the later of two
years  after  the grant of such  Incentive  Stock  Option or one year  after the
transfer  of the  shares  to the  Optionee  pursuant  to the  exercise  of  such
Incentive Stock Option.

         5. Notice of Exercise of Option.  This Option may be  exercised  by the
Optionee,   or  by  the   Optionee's   administrators,   executors  or  personal
representatives, by a written notice (in substantially the form of the Notice of
Exercise  attached  hereto as  Schedule  A) signed by the  Optionee,  or by such
administrators,  executors or personal representatives,  and delivered or mailed
to the Company as specified in this  Agreement to the attention of the President
or such other  officer as the Company may  designate.  Any such notice shall (a)
specify  the  number of shares of Stock  which the  Optionee  or the  Optionee's
administrators,  executors or personal representatives, as the case may be, then
elects to purchase hereunder,  (b) contain such information as may be reasonably
required by the Company  pursuant to this  Agreement,  and (c) be accompanied by
(i) a  certified  or  cashier's  check  payable to the Company in payment of the
total Exercise Price applicable to such shares as provided  herein,  (ii) shares
of stock  owned  by the  Optionee  and duly  endorsed  or  accompanied  by stock
transfer  powers  having a Fair Market Value equal to the total  Exercise  Price
applicable to such Shares purchased hereunder, or

<PAGE>

(iii) a certified  or  cashier's  check  accompanied  by the number of shares of
stock  where Fair  Market  Value when added to the amount of the check equal the
total Exercise Price applicable to such shares purchased hereunder. Upon receipt
of any such notice and  accompanying  payment,  and subject to the terms hereof,
the Company  agrees to issue to the Optionee or the  Optionee's  administrators,
executors or personal  representatives,  as the case may be, stock  certificates
for the number of shares specified in such notice  registered in the name of the
person exercising this Option.

         6.  Adjustment in Option.  The number of Shares subject to this Option,
the Exercise Price, and other matters are subject to adjustment  during the term
of this Option in accordance with Section 5.2 of the Stock Incentive Plan.

         7. Termination of Employment.

         (a) In the event of the  termination of the Optionee's  employment with
the Company or any of its Subsidiaries,  other than a termination that is either
(i) for Cause,  (ii)  voluntary on the part of the Optionee and without  written
consent  of the  Company,  or  (iii)  for  reasons  of death  or  disability  or
retirement,  the Optionee  may  exercise  this Option at any time within 30 days
after  such  termination  to the  extent  of the  number of  shares  which  were
Purchasable hereunder at the date of such termination.

         (b) In the event of a termination of the Optionee's  employment that is
either (i) for Cause or (ii)  voluntary  on the part of the Optionee and without
the written  consent of the Company,  this Option,  to the extent not previously
exercised,  shall  terminate  immediately  and shall not thereafter be or become
exercisable.

         (c) In the  event  of the  retirement  of the  Optionee  at the  normal
retirement  date  as  prescribed  from  time  to  time  by  the  Company  or any
Subsidiary,  the  Optionee  shall  continue  to have the right to  exercise  any
Options  for  shares  which  were  Purchasable  at the  date  of the  Optionee's
retirement  provided  that,  on the date which is three months after the date of
retirement, the Options will become void and unexercisable unless on the date of
retirement the Optionee enters into a noncompete  agreement with the Company and
continues to comply with such noncompete agreement.  This Option does not confer
upon the Optionee any right with respect to  continuance  of  employment  by the
Company or by any of its Subsidiaries.  This Option shall not be affected by any
change of employment so long as the Optionee  continues to be an employee of the
Company or one of its Subsidiaries.

         (d) In the event of termination of employment because of the Optionee's
Permanent  and  Total   Disability,   the  Optionee  (or  his  or  her  personal
representative) may exercise this Option,  within a period ending on the earlier
of (a) the last day of the one year period  following the  Optionee's  Permanent
and Total Disability or (b) the expiration date of this Option, to the extent of
the  number of  shares  which  were  Purchasable  hereunder  at the date of such
termination.

         (e) In the event of the Optionee's  death while employed by the Company
or any of its  Subsidiaries  or within three months after a termination  of such
employment (if such  termination was neither (i) for Cause nor (ii) voluntary on
the part of the Optionee and without the written  consent of the  Company),  the
appropriate  persons  described  in Section 5 hereof or persons to whom all or a
portion of this Option is  transferred  in accordance  with Section 4 hereof may
exercise  this Option at any time  within a period  ending on the earlier of (a)
the last day of the one year period  following the  Optionee's  death or (b) the
expiration  date of this Option.  If the Optionee was an employee of the Company
at the time of death,  this  Option  may be so  exercised  to the  extent of the
number of shares that were  Purchasable  hereunder at the date of death.  If the
Optionee's  employment  terminated prior to his or her death, this Option may be
exercised  only to the  extent of the number of shares  covered  by

<PAGE>

this Option which were Purchasable hereunder at the date of such termination.

         8. Compliance with Regulatory Matters.  The Optionee  acknowledges that
the issuance of capital stock of the Company is subject to  limitations  imposed
by federal and state law and the Optionee  hereby  agrees that the Company shall
not be obligated to issue any shares of Stock upon  exercise of this Option that
would cause the Company to violate law or any rule, regulation, order or consent
decree of any regulatory  authority (including without limitation the Securities
and Exchange  Commission)  having  jurisdiction over the affairs of the Company.
The  Optionee  agrees  that  he or  she  will  provide  the  Company  with  such
information  as is  reasonably  requested  by  the  Company  or its  counsel  to
determine  whether the issuance of Stock complies with the provisions  described
by this Section 8.

         9.  Forfeiture.  The purpose of the Stock Incentive Plan is to attract,
retain,  and reward  employees,  to increase stock ownership and  identification
with the Company's  interests,  and to provide  incentive for remaining with and
enhancing the value of the Company over the  long-term.  Therefore,  the Company
and the Optionee agree as follows:

                  (a) If, at any time  within  the  later of (i) one year  after
termination of the  Optionee's  employment or (ii) one year after the Optionee's
exercise of any portion of this  Option,  the  Optionee  engages in any activity
which   constitutes   a  violation  of  any   confidentiality,   noncompetition,
nonsolicitation,  or similar  provision  of any  employment  or other  agreement
between the Company and the Optionee  (or, if no  agreement is in place  between
the Company and the Optionee,  any Company policies pertaining to such matters),
or if the Optionee  engages in any  activity  which is  inimical,  contrary,  or
harmful  to the  interests  of the  Company  (including  conduct  related to the
Optionee's  employment for which either criminal or civil penalties  against the
Optionee may be sought or violation of the  Company's  policies,  including  the
Company's  insider  trading  policy),  then  (1)  this  Option  shall  terminate
effective  the date on which the  Optionee  enters  into such  activity,  unless
terminating  sooner by  operation of another term or condition of this Option or
the Stock  Incentive Plan, and (2) any Option Gain realized by the Optionee from
exercising  all or a portion of this Option shall be paid by the Optionee to the
Company.  "Option Gain" shall mean the gain represented by the mean market price
on the date of exercise  over the Exercise  Price,  multiplied  by the number of
shares  purchased  through  exercise  of  the  Option,  without  regard  to  any
subsequent  market  price  decrease  or  increase.   The  forfeiture  provisions
described  in this  Section  shall  apply  even if the  Company  does not  elect
otherwise to enforce the  employment  agreement or take other action against the
Optionee,  but shall not apply if termination of the Optionee's  employment with
the Company  occurs in  connection  with or  following  a Corporate  Transaction
involving the Company (as defined in the Stock Incentive Plan).

         (b) By accepting this Agreement,  the Optionee  consents to a deduction
from any amounts  the Company  owes the  Optionee  from time to time  (including
amounts owed as wages or other compensation,  fringe benefits, or vacation pay),
to the extent of the amounts the Optionee  owes the Company  under this Section.
Whether or not the Company  elects to make any  set-off in whole or in part,  if
the  Company  does not  recover by means of set-off  the full amount owed by the
Optionee to the Company,  calculated as set forth above,  the Optionee shall pay
immediately the unpaid balance to the Company.  The Optionee hereby appoints the
Company  as its  attorney-in-fact  to  execute  any  documents  or do  any  acts
necessary to exercise its rights under this Section.

         (c) The  Optionee  may be  released  from its  obligations  under  this
Section only if the Board of Directors (or its duly appointed agent)  determines
in its sole discretion that such action is in the best interests of the Company.

<PAGE>

         10. Miscellaneous.

         (a) This  Agreement  shall be binding upon the parties hereto and their
representatives, successors and assigns.

         (b)  Unless  the  context  clearly  indicates  to  the  contrary,   all
capitalized  terms  used  herein  shall have the  meanings  as set forth in this
Agreement,  or in the event a capitalized term is not clearly  described in this
Agreement,  the meanings as set forth in the Greenville First  Bancshares,  Inc.
2000 Stock Incentive Plan dated February __, 2000.

         (b) This  Agreement is executed and delivered in, and shall be governed
by the laws of, the State of South Carolina .

         (c) Any  requests  or  notices  to be given  hereunder  shall be deemed
given, and any elections or exercises to be made or accomplished shall be deemed
made or accomplished,  upon actual delivery thereof to the designated recipient,
or three days after  deposit  thereof in the  United  States  mail,  registered,
return receipt requested and postage prepaid,  addressed, if to the Optionee, at
the address set forth below and, if to the Company,  to the executive offices of
the Company at Post Office Box 17465, Greenville, South Carolina 29606.

         (d) This  Agreement may not be modified  except in writing  executed by
each of the parties hereto.

         IN WITNESS  WHEREOF,  the Board of  Directors of the Company has caused
this Stock  Option  Agreement  to be  executed  on behalf of the Company and the
Company's  seal  to be  affixed  hereto  and  attested  by the  Secretary  or an
Assistant  Secretary  of the Company,  and the Optionee has executed  this Stock
Option Agreement under seal, all as of the day and year first above written.

                            GREENVILLE FIRST BANCSHARES, INC..

                            By: __________________________________
                                  Name: R. Arthur Seaver, Jr.
                                  Title: President and Chief Executive Officer

                            OPTIONEE

                             By:  ________________________________

                             Name: *********

                             Address:______________________________

<PAGE>

                                   SCHEDULE A
                               NOTICE OF EXERCISE

                 To exercise Stock Options, the Optionee should
        complete this Schedule, execute it, and return it to the Company

         The undersigned hereby notifies Greenville First Bancshares,  Inc. (the
"Company")  of this  election  to exercise  the  undersigned's  stock  option to
purchase  shares of the Company's  common stock,  par value $0.01 per share (the
"Common  Stock"),  pursuant  to the Stock  Option  Agreement  (the  "Agreement")
between the undersigned  and the Company dated  _______________________________.
Accompanying  this  Notice  is a check  in the  amount  of  $___________________
payable to the Company such amount  being equal to the purchase  price per share
set forth in the Agreement  multiplied  by the number of shares being  purchased
hereby.

         IN WITNESS  WHEREOF,  the  undersigned  has set his hand and seal, this
________ day of _________________, ---------.

                                   OPTIONEE [OR OPTIONEE'S
                                   ADMINISTRATOR,
                                   EXECUTOR OR PERSONAL
                                   REPRESENTATIVE]

                                   Name:____________________________________
                                   Print Name: _______________________________

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