Document:

exv10w65

 

Exhibit
10.65

SRC
SOFTWARE, INC.

2003
STOCK INCENTIVE PLAN

ARTICLE I

Purpose of Plan

     The
2003 Stock Incentive Plan (the “Plan”) of SRC Software, Inc., a Delaware corporation (the
“Company”), is intended to advance the best interests of the Company by providing officers,
directors, key employees, selected nonemployee agents, and independent contractors of the Company
or any Subsidiary who have substantial responsibility for the management and growth of the Company
or any Subsidiary with additional incentives by allowing such individuals to acquire an ownership
interest in the Company. The Plan is a compensatory benefit plan within the meaning of Rule 701
under the Securities Act of 1933, as amended (the “Securities
Act”).

     This
Plan is adopted by the Company’s Board of Directors (the
“Board”) and is effective as of
October 31, 2003; provided, however, that no Incentive Stock Option, (as defined in Section
5.1 below) granted under the Plan shall become exercisable until the Plan is approved by the
affirmative vote of the holders of a majority of the shares of Common Stock represented at a
stockholders’ meeting at which a quorum is present or by means of a majority written consent
resolution, and the exercise of any Incentive Stock Options granted under the Plan before approval
shall be conditioned on and subject to that approval. For purposes of this Plan, a person is
considered to be employed by or in the service of the Company if the person is employed by the
Company or a Subsidiary.

ARTICLE II

Definitions

For purposes of the Plan the following terms have the indicated meanings:

          “Board” means the Board of Directors of the Company.

          “Cause” means (i) the refusal or repeated failure to perform the duties and responsibilities
assigned to the Participant after notice and a reasonable opportunity to cure such refusal or
failure to perform; (ii) any act of disloyalty, gross negligence, willful misconduct, dishonesty or
breach of fiduciary duty to the Company by the Participant; (iii) the Participant’s conviction of,
or plea of guilty or nolo conlendere to, a felony; (iv) the commission of an act of embezzlement or
fraud by the Participant; (v) the deliberate disregard of the rules or policies of the Company
which results in direct or indirect loss, damage or injury to the Company; (vi) the unauthorized
disclosure of any trade secret or confidential information of the Company by the Participant; (vii)
the commission of any act by the Participant which constitutes unfair competition with the Company,
or which induces any customer or supplier to breach a contract with the Company; (viii) the
Participant’s inexcusable, repeated or prolonged absence from work other than as a result of
Disability; or (ix) the Participant’s breach of any provision of this Plan or the Option Agreement,
including attachments and exhibits hereto and thereto.

          “Change
of Control” means the approval by the stockholders of the Company, and the
consummation, of (a) any acquisition of the Company by means of any transaction or series of
related transactions (including, without limitation, any consolidation, merger or share exchange)
that results in the holders of outstanding securities of the Company ordinarily having the right to
vote for the election of directors (“Voting Securities”) immediately prior to such transaction
holding less than 50% of the

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combined voting power of the outstanding Voting Securities of the surviving or continuing
corporation immediately thereafter, disregarding any Voting Securities issued to or retained by
such holders in respect of securities of any other party to such transaction; (b) any sale, lease,
exchange or other transfer (in one transaction or a series of related transactions) of all, or
substantially all, the assets of the Company; or (c) the adoption of any plan or proposal for the
liquidation or dissolution of the Company.

          “Code” means the United States Internal Revenue Code of 1986, as amended, and any
successor statute.

          “Committee” means the Compensation Committee or such other committee of the Board as the Board
may designate to administer the Plan or, if for any reason the Board has not designated such a
committee, the Board.

          “Common Stock” means the Company’s Common Stock, par value $ 0.001 per share, and any other
securities issuable with respect thereto by way of stock split, stock dividend or in connection
with a combination of shares, recapitalization, merger, consolidation or other reorganization.

          “Disability” means a medically determinable mental or physical impairment that is expected to
result in death or has lasted or is expected to last for a continuous period of 12 months or more
and that, in the opinion of the Company and two independent physicians, causes the Participant to
be unable to perform his or her duties for the Company or Subsidiary. Disability shall be deemed to
have occurred on the first day after the two independent physicians have furnished their written
opinion of disability to the Company and the Company has reached an opinion of Disability.

          “Fair Market Value” per share on any given date means the average of the closing
prices of the sales of the Common Stock on all securities exchanges on which such stock may at the
time be listed, or, if there have been no sales on any such exchange on any day, the average of the
highest bid and lowest asked prices on all such exchanges at the end of such day, or, if on any day
such stock is not so listed, the average of the representative bid and asked prices quoted on the
Nasdaq Stock Market as of 4:00 P.M., New York time, or, if on any day such stock is not quoted on
the Nasdaq Stock Market, the average of the highest bid and lowest asked prices on such day in the
domestic over-the-counter market as reported by the National Quotation Bureau, Incorporated, or any
similar successor organization. If at any time the Common Stock is not listed or quoted, the Fair
Market Value per share shall be determined by the Committee or the Board based on such factors as
the members thereof in the good faith exercise of then-business judgment consider relevant.

          “Measurement Date” means the date on which any taxable income resulting from the exercise of
an Option is determined pursuant to applicable federal income tax law.

          “Option Agreement” has the meaning set forth in Section 6.2.

          “Option Shares” means (i) all shares of Common Stock issued or issuable upon the exercise of
an Option, and (ii) all shares of Common Stock issued with respect to the Common Stock referred to
in clause (i) above by way of stock dividend or stock split or in connection with any conversion,
merger, consolidation or recapitalization or other reorganization affecting the Common Stock.
Unless provided otherwise herein or in the Participant’s Option Agreement, Option Shares will
continue to be Option Shares in the hands of any holder other than the Participant (except for the
Company), and each such transferee thereof will succeed to the rights and obligations of a holder
of Option Shares hereunder.

          “Options” has the meaning set forth in Article III.

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          “Participant” means any officer, director, key employee, selected nonemployee agent,
consultant, adviser or independent contractor of the Company or any Subsidiary who has been
selected to participate in the Plan by the Committee.

          “Permitted
Transferee” means those persons to whom the Participant is permitted (i)
pursuant to Section 5.13. to transfer Option Shares, or (ii) pursuant to Section
5.8.7, to transfer Options.

          “Public
Offering” means the sale by the Company, in an underwritten public offering registered
under the Securities Act, of shares of Common Stock resulting in aggregate net proceeds to the
Company of at least $25 million.

          “Repurchase Notice” has the meaning ascribed thereto in
Section 5.12.2 hereof.
          
“Repurchase Option” has the meaning
ascribed thereto in Section 5.12.1 hereof.

          “Securities
Act” has
the meaning ascribed thereto in Article I hereof.

          “Stockholders’
Agreement” means that certain Stockholders’ Agreement, dated as of May
14, 2002, by and among the Company and its stockholders, as amended, restated, or modified from
time to time.

          “Subsidiary” means any subsidiary corporation (as such term is defined in Section 424(f) of
the Code) of the Company or any limited liability company that is wholly-owned by the Company.

          “Termination
Date” shall mean the date on which the Participant’s employment with the
Company ceases.

ARTICLE III

Administration

     The Plan shall be administered by the Committee on behalf of the Board. Subject to the
limitations of the Plan, the Committee shall have the sole and complete authority to: (i) select
the Participants, (ii) grant options to purchase Common Stock
(“Options”) to the Participants in
such types, forms and amounts and at such exercise prices as it shall determine, (iii) grant stock
bonuses pursuant to Section 5.10 of the Plan; (iv) issue shares of restricted stock
pursuant to Section 5.11 of the Plan; (v) impose such limitations, restrictions and
conditions upon such Options, stock bonuses or restricted stock issuances as it shall deem
appropriate, (vi) interpret the Plan and adopt, amend, and rescind administrative guidelines and
other rules and regulations relating to the Plan, (vii) correct any defect or omission or reconcile
any inconsistency in the Plan or in any Options, stock bonuses or restricted stock issuances
granted under the Plan and (viii) make all other determinations and take all other actions
necessary or advisable for the implementation and administration of the Plan. The Committee’s
determinations on matters within its authority shall be subject to ratification by the Board and,
once such determinations have been so ratified, such determinations shall be conclusive and binding
upon the Participants, the Company and all other persons. Notwithstanding any of the foregoing, the
Board may, at any time and from time to time, divest the Committee of any or all of its authority
to administer the Plan and to exercise those rights enumerated in the second sentence of this
Article III or any other rights granted to the Committee pursuant to the Plan. All expenses
associated with the administration of the Plan shall be born by the Company. The Committee may, as
approved by the Board and to the extent

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permissible by law, delegate any of its authority hereunder to such persons or entities as it
deems appropriate.

ARTICLE IV

Limitation on Aggregate Shares

     Subject to adjustment in accordance with Section 6.4 below, the total number of shares
that may be issued under the Plan shall be 5,000,000 shares. To the extent any Options expire
unexercised or are canceled, terminated or forfeited in any manner without the issuance of Common
Stock thereunder, shares underlying such Options shall again be available under the Plan. If the
shares awarded as a bonus pursuant to Section 5.10 or sold pursuant to Section 5.11
under the Plan are forfeited to or repurchased by the Company, the number of shares forfeited or
repurchased shall again be available under the Plan. The shares of Common Stock available under the
Plan may consist of authorized and unissued shares, treasury shares, or a combination thereof, as
the Committee shall determine.

ARTICLE V

Grants

     5.1. Types of Grants. The Committee may, from time to time, take the following actions
separately or in combination, under the Plan: (i) grant Incentive Stock Options, as defined
in Section 422 of the Code as provided in Section 5.8; (ii) grant options other than
Incentive Stock Options (“Non-Statutory Stock
Options”) as provided in Section 5.9;
(iii) award stock bonuses as provided in Section 5.10; and (iv) sell shares subject to
restriction as provided in Section 5.11. Awards may be made to the Participants selected by
the Committee, provided, however, that only employees of the Company or any Subsidiary are eligible
to receive Incentive Stock Options under the Plan. The Committee shall select the Participants to
whom an Option shall be given and the terms and conditions of that Option, provided they are
consistent with this Plan. At the discretion of the Committee, an individual may be given an
election to surrender an award in exchange for the grant of a new award.

     5.2 Terms of Grant. The Committee may grant Options under the Plan. With respect to each
Option grant, the Committee shall determine the number of shares subject to the Option, the
exercise price per share underlying the Option, the period of the Option, the time or times at
which the Option may be exercised and whether the Option is an Incentive Stock Option or a
Non-Statutory Stock Option. At the time of the grant of an Option or at any time thereafter, the
Committee may provide that a Participant who exercised an Option with Common Stock of the Company
shall automatically receive a new Option to purchase additional shares equal to the number of
shares surrendered and may specify the terms and conditions of such new Options.

     5.3 Exercise of Options.

          5.3.1
Exercise Procedure. Except as provided in
Section 5.6, Options granted under the Plan
may be exercised from time to time over the period stated in each Option in amounts and at times
prescribed by the Committee, provided that Options may not be exercised for fractional shares.
Options shall be exercised by written notice to the Company (to the attention of the Company’s
Secretary) specifying the number of Option Shares the Participant desires to purchase under the
Option and the date on which the Participant agrees to complete the transaction, and, if required
to comply with the Securities Act, containing a representation that it is the Participant’s
intention to acquire the Option Shares for investment and not with a view toward distribution,
accompanied by payment in full of the applicable

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exercise price. Payment of such exercise price may be made (i) in cash (including check, bank
draft, money order or wire transfer of immediately available funds), (ii) if approved by the
Committee prior to exercise (or in the case of Incentive Stock Options, prior to the grant of the
Option), by delivery of a full recourse promissory note of the Participant bearing interest at a
rate not less than the applicable federal rate determined pursuant to Section 1274 of the Code,
(iii) in shares of Common Stock valued at their Fair Market Value as of the date of exercise to the
extent provided in Section 5.3.2 below, (iv) by authorizing the Company to reduce the
number of Option Shares subject to the Option by the number of Option Shares having an aggregate
Fair Market Value equal to the Option Price, or (v) in a combination of the foregoing. No Option
Shares shall be issued until full payment for the Option Shares have been made, including all
amounts owed for tax withholding.

          5.3.2 Exchange of Previously Acquired Stock. The Committee, in its discretion and subject to
such conditions as the Committee may determine, may permit the exercise price for the Option Shares
being acquired upon the exercise of an Option to be paid, in full or in part, by the delivery to
the Company of Common Stock. Any Common Stock so delivered shall be treated as the payment of cash
equal to the aggregate Fair Market Value of such Common Stock. Unless otherwise determined by the
Committee, any Common Stock provided in payment of the purchase price must have been previously
acquired and held by the Participant for at least six months.

          5.3.3 Tax Withholding Requirements.

               (a) Amount of Withholding. It shall be a condition of the exercise of any Option that
the Participant exercising the Option make appropriate payment or other provision acceptable to the
Company with respect to any tax withholding requirement arising from such exercise. The amount of
tax withholding required, if any, with respect to any Option exercise
(the “Withholding Amount”)
shall be determined by the Controller or other appropriate officer of the Company, and the
Participant shall furnish such information and make such representations as such officer requires
to make such determination.

               (b) Withholding Procedure. If the Company determines that tax withholding is required with
respect to any exercise of an Option, the Company shall notify the Participant of the Withholding
Amount, and the Participant shall pay to the Company an amount not less than the Withholding
Amount. In lieu of making such payment, the Participant may elect to pay the Withholding Amount by
either (i) delivering to the Company a number of shares of Common Stock having an aggregate Fair
Market Value as of the Measurement Date not less than the Withholding Amount or (ii) directing the
Company to withhold (and not to deliver or issue to the Participant) a number of Option Shares of
Common Stock, otherwise issuable upon the exercise of an Option, having an aggregate Fair Market
Value as of the Measurement Date not less than the Withholding Amount. In addition, if the
Committee approves, a Participant may elect pursuant to the prior sentence to deliver or direct the
withholding of shares of Common Stock having an aggregate Fair Market Value in excess of the
minimum Withholding Amount but not in excess of the Participant’s applicable highest marginal
combined federal income and state income tax rate, as estimated in good faith by such Participant.
Any fractional share interests resulting from the delivery or withholding of shares of Common Stock
to meet tax withholding requirements shall be settled in cash. All amounts paid to or withheld by
the Company and the value of all shares of Common Stock delivered to or withheld by the Company
pursuant to this Section 5.3.3 shall be deposited in accordance with applicable law by the
Company as tax withholding for the Participant’s account. If the Controller or other appropriate
officer of the Company determines that no tax withholding is required with respect to the exercise
of any Option (because such Option is an Incentive Stock Option or otherwise), but subsequently it
is determined that the exercise resulted in taxable income as to which withholding is required (as
a result of a disposition of shares or otherwise),

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the
Participant shall promptly, upon being notified of the withholding requirement, pay to the
Company, by means acceptable to the Company, the amount required to be withheld; and at its
election the Company may condition the transfer of any Option Shares issued upon exercise of an
Incentive Stock Option upon receipt of such payment.

          5.3.4 Failure to Pay Withholding. If the Participant fails to pay the Withholding Amount
demanded, the Company or a Subsidiary may withhold the Withholding Amounts from other amounts
payable to the Participant, including salary, subject to applicable law.

     5.4 Conditions and Limitations on Exercise. At the discretion of the Committee,
exercised at the time of grant, Options may vest, in one or more installments, upon (i) the
fulfillment of certain conditions, (ii) the passage of a specified period of time, and/or (iii) the
achievement by the Company or any Subsidiary of certain performance goals. Unless the Committee
specifies otherwise in the Option Agreement, the Option shall vest according the schedule listed
below, provided the Participant remains continuously employed or otherwise engaged by the Company
or any Subsidiary from the date hereof through such vesting date.

	 	 	 
	 	 	Percentage of Option
	Vesting
Date	 	Shares
That Vest
	The first anniversary of the grant date
	 	20%
	Each of the first 48 one-month
anniversaries of the first anniversary of the
grant date
	 	1 2/3% (1.6667%)

     5.5
Reduction of Reserved Shares. Upon the exercise of an Option, the number of Shares
reserved for issuance under the Plan shall be reduced by the number of Option Shares issued upon
exercise of the Option (less the number of any shares surrendered in payment for the exercise price
or withheld to satisfy withholding requirements).

     5.6
Expiration of Options.

          5.6.1
Normal Expiration. In no event shall any part of any Option be exercisable after
the stated date of expiration thereof.

          5.6.2
Early Expiration Upon Termination of Employment. Unless the Committee specifies
otherwise in the Option Agreement or determines otherwise as of the applicable Termination Date,
any part of any Option that was not vested on a Participant’s Termination Date shall expire and be
forfeited on such date, and any part of any Option that was vested on the Termination Date shall
also expire and be forfeited to the extent not theretofore exercised on the sixtieth (60th) day
(one year if termination is caused by the Participant’s death or Disability) following the
Termination Date, but in no event after the stated date of expiration thereof. Any termination for
Cause shall result in any part of any Option (vested or unvested) to expire on the Termination
Date. An Option held by a Participant who dies may be exercised only by the executor or
adminstrator of the Participant’s estate or the person or persons to whom the Participant’s rights
under the Option shall pass by the Participant’s will or by the laws of descent and distribution of
the state or country of domicile at the time of death.

          5.6.3
Amendment of Exercise Period Applicable to Termination. The Committee may at any time
extend the 60-day and 12-month exercise periods any length of time not longer than the original
expiration date of the Option. The Committee may at any time increase the portion of an Option that
is exercisable, subject to terms and conditions determined by the Committee.

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          5.6.4 Failure to Exercise Option. To the extent that the Option of any deceased
Participant or any Participant whose employment or service terminates is not exercised within
the applicable period, all further rights to purchase Option Shares pursuant to the Option
shall cease and terminate.

          5.6.5 Leave of Absence. Absence on leave approved by the Company or Subsidiary or on account
of illness or disability, which does not constitute a Disability, shall not be deemed a termination
or interruption of employment or service. Unless otherwise determined by the Committee, vesting of
Options shall continue during a medical, family or military leave of absence, whether paid or
unpaid, and vesting of Options shall be suspended during any other unpaid leave of absence.

     5.7 Limitations on Grants to Non-Exempt Employees. Unless otherwise determined by the
Committee, if an employee Participant of the Company or Subsidiary is a non-exempt employee subject
to the overtime compensation provisions of Section 7 of the Fair
Labor Standards Act (the “FLSA”),
any Option granted to that employee Participant shall be subject to the following restrictions: (i)
the Option exercise price shall be at least 85 percent of the Fair Market Value of the Common Stock
subject to the Option on the date it is granted; and (ii) the Option shall not be exercisable until
at least six months after the date it is granted; provided, however, that this six-month
restriction on exercisability will cease to apply if the employee Participant dies, suffers from
Disability or retires, there is a change in ownership of the Company, or in other circumstances
permitted by regulation, all as prescribed in Section 7(e)(8)(B) of the FLSA.

     5.8 Incentive Stock Options. Incentive Stock Options shall be subject to the following
additional terms and conditions:

          5.8.1 Limitation on Amount of Grants. If the aggregate Fair Market Value of stock (determined
as of the date the Option is granted) for which Incentive Stock Options granted under this Plan
(and any other stock incentive plan of the Company or Subsidiary) are exercisable for the first
time by an employee Participant during any calendar year exceeds $100,000, the portion of the
Option or Options not exceeding $100,000, to the extent of whole shares, will be treated as an
Incentive Stock Option and the remaining portion of the Option or Options will be treated as a
Non-Statutory Stock Option. The preceding sentence will be applied by taking Options into account
in the order in which they were granted. If, under the $100,000 limitation, a portion of an Option
is treated as an Incentive Stock Option and the remaining portion of the option is treated as a
Non-Statutory Stock Option, unless the Participant designates otherwise at the time of exercise,
the Participant’s exercise of all or a portion of the Option will be treated as the exercise of the
Incentive Stock Option portion of the Option to the full extent permitted under the $100,000
limitation. If a Participant exercises an Option that is treated as in part an Incentive Stock
Option and in part a
Non-Statutory Stock Option, the Company will designate the portion of the
Option stock acquired pursuant to the exercise of the Incentive Stock Option portion as Incentive
Stock Option stock by issuing a separate certificate for that portion of the Option stock and
identifying the certificate as Incentive Stock Option stock in its stock records.

          5.8.2 Limitations on Grants to 10 percent Shareholders. An Incentive Stock Option may be
granted under the Plan to an employee Participant possessing more than 10 percent of the total
combined voting power of all classes of stock of the Company or Subsidiary only if the option price
is at least 110 percent of the Fair Market Value of the Common Stock subject to the Option on the
date it is granted and the Option by its terms is not exercisable after the expiration of five
years from the date it is granted.

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          5.8.3
Duration of Options. Subject to Sections 5.6 and
5.8.2, Incentive Stock
Options granted under the Plan shall continue in effect for the period fixed by the Committee,
except that by its terms no Incentive Stock Option shall be exercisable after the expiration of 10
years from the date it is granted.

          5.8.4 Exercise Price. The exercise price per share shall be determined by the Board at the
time of grant. Except as provided in Section 5.8.2, the exercise price shall not be less
than 100 percent of the Fair Market Value of the Common Stock covered by the Incentive Stock Option at
the date the Option is granted.

          5.8.5 Limitation on Time of Grant. No Incentive Stock Option shall be granted on or after the
tenth anniversary of the last action by the Board adopting the Plan or approving an increase in the
number of shares available for issuance under the Plan, which action was subsequently approved
within 12 months by the stockholders.

          5.8.6 Early Dispositions. If within two years after an Incentive Stock Option is granted or
within 12 months after an Incentive Stock Option is exercised, the Participant sells or otherwise
disposes of Common Stock acquired on exercise of the Option, the Participant shall within 30 days
of the sale or disposition notify the Company in writing of (i) the date of the sale or
disposition, (ii) the amount realized on the sale or disposition and (iii) the nature of the
disposition (e.g., sale, gift, etc.).

          5.8.7
Nontransferability. Each Incentive Stock Option and, unless otherwise determined by the
Committee, each other Option granted under the Plan by its terms (i) shall be nonassignable and
nontransferable by the Participant, either voluntary or by operation of law, except by will or by
the laws of descent an distribution of the state or country of the Participant’s domicile at the
time of death, and (ii) during the Participant’s lifetime, shall be exercisable only by the
Participant (or, if the Participant is incapacitated, by the Participant’s legal guardian or legal
representative).

     5.9 Non-Statutory Stock Options. Non-Statutory Stock Options shall be subject to the
following terms and conditions, in addition to those set forth in Sections 5.1 through
5.7 above:

          5.9.1 Exercise Price. The exercise price for Non-Statutory Stock Options shall be determined
by the Committee at the time of grant and may be any amount determined by the Committee.

          5.9.2 Duration of Options. Non-Statutory Stock Options granted under the Plan shall continue
in effect for the period fixed by the Committee.

     5.10 Stock Bonuses. The Committee may award stock under the Plan as stock bonuses. Stock
awarded as a bonus shall be subject to the terms, conditions and restrictions determined by the
Committee. The restrictions may include restrictions concerning transferability and forfeiture of
the stock awarded, together with any other restrictions determined by the Committee. The Committee
may require the recipient to sign an agreement as a condition of the award, but may not require the
recipient to pay any monetary consideration other than amounts necessary to satisfy tax withholding
requirements. The agreement may contain any terms, conditions, restrictions, representations and
warranties required by the Committee. The certificates representing the shares awarded shall bear
any legends required by the Committee. The Company may require any recipient of a stock bonus to
pay to the Company in cash or by check upon demand amounts necessary to satisfy any applicable
federal, state or local tax withholding requirements. If the recipient fails to pay the amount
demanded, the Company or any Subsidiary may withhold that amount from other amounts payable to the
recipient, including salary, subject to applicable

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law. With the consent of the Committee, a recipient may satisfy this obligation, in whole or in
part, by instructing the Company to withhold from any shares to be issued or by delivering to the
Company other shares of Common Stock; provided, however, that the number of shares so withheld or
delivered shall not exceed the minimum amount necessary to satisfy the required withholding
obligation. Upon the issuance of a stock bonus, the number of shares reserved for issuance under
the Plan shall be reduced by the number of shares issued, less the number of shares withheld or
delivered to satisfy withholding obligations.

     5.11 Restricted Stock. The Committee may issue stock under the Plan for any consideration
(including promissory notes and services) determined by the Committee. Stock issued under the Plan
shall be subject to the terms, conditions and restrictions determined by the Committee. The
restrictions may include restrictions concerning transferability, repurchase by the Company and
forfeiture of the shares issued, together with any other restrictions determined by the Committee.
All Common Stock issued pursuant to this Section 5.11 shall be subject to a purchase agreement,
which shall be executed by the Company and the prospective purchaser of the shares before the
delivery of certificates representing the shares to the purchaser. The purchase agreement may
contain any terms, conditions, restrictions, representations and warranties required by the
Committee. The certificates representing the stock shall bear any legends required by the
Committee. The Company may require any purchaser of restricted stock to pay to the Company in cash
or by check upon demand amounts necessary to satisfy any applicable federal, state or local tax
withholding requirements. If the purchaser fails to pay the amount demanded, the Company or the
Employer may withhold that amount from other amounts payable to the purchaser, including salary,
subject to applicable law. With the consent of the Committee, a purchaser may satisfy this
obligation, in whole or in part, by instructing the Company to withhold from any shares to be
issued or by delivering to the Company other shares of Common Stock; provided, however, that the
number of shares so withheld or delivered shall not exceed the minimum amount necessary to satisfy
the required withholding obligation. Upon the issuance of restricted stock, the number of shares
reserved for issuance under the Plan shall be reduced by the number of shares issued, less the
number of shares withheld or delivered to satisfy withholding obligations.

     5.12 Right to Purchase Option Shares Upon Termination of Employment.

          5.12.1 Repurchase Right. In the event a Participant’s employment, consulting relationship or
engagement with the Company is terminated for any reason, the Option Shares (whether held by such
Participant or one or more transferees and including any Option Shares acquired subsequent to such
termination of employment consulting relationship or engagement) will be subject to repurchase by
the Company pursuant to the terms and conditions set forth in this Section 5.12 (the
“Repurchase Option”) at the price per share specified in the applicable Option Agreement.

          5.12.2 Repurchase Notice. The Committee may elect to purchase all or any portion of the Option
Shares by delivery of written notice (the “Repurchase
Notice”) to the holder or holders of the
Option Shares within 180 days after the Termination Date. The Repurchase Notice will set forth the
number of Option Shares to be acquired from such holder, the aggregate consideration to be paid for
such shares and the time and place for the closing of the transaction.

          5.12.3 Closing of Repurchase. The closing of the repurchase transaction will take place on the
date designated by the Company in the Repurchase Notice, which date will not be more than 45 days
nor less than 10 days after the delivery of such notice. The Company will pay for the Option Shares
to be purchased pursuant to the Repurchase Option by delivering cash, check, wire transfer or
otherwise similar form of payment to the Participant in a principal amount equal to the aggregate
sale price of the Option Shares to be repurchased; provided, that if the Company determines that
tax

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withholding is required with respect to the exercise of a Repurchase Option, the Company shall
withhold an amount equal to such tax withholding from the purchase price. At the closing, the
Participant and each other seller will deliver the certificates representing the Option Shares to
be sold duly endorsed in form for transfer to the Company or its designee, and the Company will be
entitled to receive customary representations and warranties from the Participant and the other
sellers regarding title to the Option Shares.

          5.12.4 Additional Restrictions. Notwithstanding anything to the contrary contained in this
Agreement, all repurchases of Option Shares by the Company shall be subject to applicable
restrictions contained in the Delaware General Corporation Law. If any such restrictions prohibit
the repurchase of Option Shares hereunder which the Company is otherwise entitled to make, the
Company may make such repurchases as soon as it is permitted to do so under such restrictions.

     5.13 Restrictions on Transfer.

          5.13.1 Restrictions. A Participant may not sell, pledge or otherwise transfer any
interest in any Option Shares.

          5.13.2
Exceptions. The restrictions contained in this
Section 5.13 will not apply with respect
to transfers of Option Shares (i) pursuant to applicable laws of descent and distribution or
(ii) among the Participant’s family group; provided, that the restrictions contained in this
Section 5.13 will continue to be applicable to the Option Shares after any such transfer
and that the transferees of such Option Shares shall have agreed in writing to be bound by the
terms and provisions of this Plan and the Option Agreement, as amended from time to time. The
Participant’s “family group” means the Participant’s spouse and descendants (whether natural or
adopted) and any trust solely for the benefit of the Participant and/or the Participant’s spouse
and/or descendants.

          5.13.3 Termination of Restrictions. The rights and obligations set forth in Section
5.13 hereof will terminate upon the consummation by the Company of a Public Offering.

ARTICLE VI

General Provisions

     6.1 Notification of Inquiries and Agreements. Each Participant and each Permitted Transferee
shall notify the Company in writing within 10 days after the date such Participant or Permitted
Transferee (i) first obtains knowledge of any Internal Revenue Service inquiry, audit, assertion,
determination, investigation, or question relating in any manner to the value of Options granted
hereunder; (ii) includes or agrees (including, without limitation, in any settlement, closing or
other similar agreement) to include in gross income with respect to any Option granted under this
Plan (A) any amount in excess of the amount reported on Form 1099 or Form W-2 to such Participant
by the Company, or (B) if no such Form was received, any amount; and/or (iii) exercises, sells, disposes of, or
otherwise transfers an Option acquired pursuant to this Plan. Upon request, a Participant or
Permitted Transferee shall provide to the Company any information or document relating to any
event described in the preceding sentence which the Company (in its sole discretion) requires in
order to calculate and substantiate any change in the Company’s tax liability as a result of such
event.

     6.2 Written Agreement. Each Option granted hereunder shall be embodied in a written agreement
(each, an “Option Agreement”), which shall be signed by the Participant to whom the Option is
granted and which shall be subject to the terms and conditions set forth herein and therein.

-10-

 

     6.3 Listing, Registration and Legal Compliance. If at any time the Committee determines, in
its discretion, that the listing, registration, or qualification of the shares subject to Options
upon any securities exchange or under any state or federal securities or other law or regulation,
or the consent or approval of any governmental regulatory body, is necessary or desirable as a
condition to or in connection with the granting of Options or the purchase or issuance of shares
thereunder, no Options may be granted or exercised, in whole or in part, unless such listing,
registration, qualification, consent or approval shall have been effected or obtained free of any
conditions not acceptable to the Committee. The holders of such Options will supply the Company
with such certificates, representations and information as the Company shall request and shall
otherwise cooperate with the Company in obtaining such listing, registration, qualification,
consent or approval. In the case of officers and other persons subject to Section 16(b) of the
Securities Exchange Act of 1934, as amended, the Committee may at any time impose any limitations
upon the exercise of Options that, in the Committee’s discretion, are necessary or desirable in
order to comply with such Section 16(b) and the rules and regulations thereunder. If the Company,
as part of an offering of securities or otherwise, finds it desirable because of federal or state
regulatory requirements to reduce the period during which any Options may be exercised, the
Committee may, in its discretion and without the Participant’s consent, so reduce such period on
not less than 15 days’ written notice to the holders thereof.

     6.4 Adjustments.

          6.4.1 Stock Split or Stock Dividend. In the event of a reorganization, recapitalization, stock
dividend or stock split, or combination or other change in the shares of Common Stock, the Board or
the Committee may, in order to prevent dilution or enlargement of rights under the Plan or
outstanding Options, adjust (i) the number and type of shares as to which Options may be granted
under the Plan, (ii) the number and type of shares covered by outstanding Options, (iii) the exercise prices
specified therein and (iv) other provisions of this Plan which specify a number of shares, all as
such Board or Committee determines to be appropriate and equitable. Notwithstanding the foregoing,
the Board and the Committee shall have no obligation to effect any adjustment that would or might
result in the issuance of fractional shares, and any fractional shares resulting from any
adjustment may be disregarded or provided for in any manner determined by the Board or Committee.

          6.4.2 Mergers, Reorganizations, Etc. In the event of a merger, consolidation, plan of
exchange, acquisition of property or stock, split-up, split-off, spin-off, reorganization or
liquidation to which the Company is a party or any sale, lease, exchange or other transfer (in one
transaction or a series of related transactions) of all, or substantially all, of the assets of the
Company (each, a “Transaction”), the Board shall, in its sole discretion and to the extent possible
under the structure of the Transaction, select one of the following alternatives for treating
outstanding options under the Plan:

               (a) Outstanding Options shall remain in effect in accordance with their terms.

               (b) Outstanding Options shall be converted into Options to purchase stock in one or more of
the corporations, including the Company, that are the surviving or acquiring corporations in the
Transaction. The amount, type of securities subject thereto and exercise price of the converted
options shall be determined by the Board of the Company, taking into account the relative values of
the companies involved in the Transaction and the exchange rate, if any, used in determining shares
of the surviving corporation(s) to be held by holders of shares of the Company following the
Transaction. Unless otherwise determined by the Board, the converted options shall be vested only
to the extent that the vesting requirements relating to Options granted hereunder have been
satisfied.

-11-

 

               (c) The Board shall provide a period of 30 days or less before the
completion of the Transaction during which outstanding Options may be exercised to the extent then
exercisable, and upon the expiration of that period, all unexercised Options shall immediately
terminate. The Board may, in its sole discretion, accelerate the exercisability of Options so that
they are exercisable in full during that period.

          6.4.3 Dissolution of the Company. In the event of the dissolution of the Company, Options
shall be treated in accordance with Section 6.4.2.

          6.4.4 Rights Issued by Another Corporation. The Board may also grant Options and stock bonuses
and issue restricted stock under the Plan with terms, conditions and provisions that vary from
those specified in the Plan, provided that any such awards are granted in substitution for, or in
connection with the assumption of, existing options, stock bonuses and restricted stock granted,
awarded or issued by another corporation and assumed or otherwise agreed to be provided for by the
Company pursuant to or by reason of a Transaction.

     6.5 Rights of Participants. Nothing in the Plan shall interfere with or limit in any way the
right of the Company or any Subsidiary to terminate any Participant’s employment at any time (with
or without cause), or shall confer upon any Participant any right to continue in the employ of the
Company or any Subsidiary for any period of time or to continue to receive such Participant’s
current (or other) rate of compensation. No employee shall have a right to be selected as a
Participant or, having been so selected, to be selected again as a Participant.

     6.6 Amendment, Suspension and Termination of Plan. The Board or the Committee may suspend or
terminate the Plan or any portion thereof at any time and may amend it from time to time in such
respects as the Board or the Committee may deem advisable; provided, however, that no such
amendment shall be made without stockholder approval to the extent such approval is required by
law, agreement or the rules of any exchange upon which the Common Stock is listed, and no such
amendment, suspension or termination shall impair the rights of the Participants under outstanding
Options without the consent of the Participants affected thereby, except as provided below. No
Options shall be granted hereunder after the tenth anniversary of the adoption of the Plan.

     6.7 Amendment of Outstanding Options. The Committee may amend or modify any Option in any
manner to the extent that the Committee would have had the authority under the Plan initially to
grant such Option; provided that, except as expressly contemplated elsewhere herein or in any
agreement evidencing such Option, no such amendment or modification shall impair the rights of any
Participant under any outstanding Option without the consent of such Participant.

     6.8 Indemnification. In addition to such other rights of indemnification as they may have as
members of the Board or the Committee, the members of the Board and the Committee shall be
indemnified by the Company against (i) all costs and expenses reasonably incurred by them in
connection with any action, suit or proceeding to which they or any of them may be party by reason
of any action taken or failure to act under or in connection with the Plan or any Option granted
under the Plan, and (ii) all amounts paid by them in settlement thereof (provided such settlement is approved by
independent legal counsel selected by the Company) or paid by them in satisfaction of a judgment
in any such action, suit or proceeding.

     6.9 Restricted Securities. All Common Stock issued pursuant to the terms of this Plan shall
constitute “restricted securities,” as that term is defined in Rule 144 promulgated by the
Securities and

-12-

 

Exchange Commission pursuant to the Securities Act, and may not be transferred except in
compliance with the registration requirements of the Securities Act or an exemption therefrom.

     6.10 Rights as a Stockholder. No Participant under the Plan shall have rights as a stockholder
with respect to any shares of Common Stock until the date the recipient becomes the holder of
record of those shares. Except as otherwise expressly provided in the Plan, no adjustment shall be
made for dividends or other rights for which the record date occurs before the date the Participant
becomes the holder of record.

     6.11 Approvals. The Company’s obligations under the Plan are subject to the approval of state
and federal authorities or agencies with jurisdiction in the matter. The Company will use its best
efforts to take steps required by state or federal law or applicable regulations, including rules
and regulations of the Securities and Exchange Commission and any stock exchange on which the
Company’s shares may then be listed, in connection with the grants under the Plan. The foregoing
notwithstanding, the Company shall not be obligated to issue or deliver, or take any action with
respect to, Common Stock under the Plan if such issuance, delivery or action would violate state or
federal securities laws.

* * * * *

-13-<PAGE>
                                                                    EXHIBIT 4.14

                             ACTIVANT SOLUTIONS INC.

                                  $145,000,000
                       Floating Rate Senior Notes due 2010

                               PURCHASE AGREEMENT

                                                                 October 6, 2005

DEUTSCHE BANK SECURITIES INC.
J.P. MORGAN SECURITIES INC.
c/o  Deutsche Bank Securities Inc.
     60 Wall Street
     New York, New York  10005

Ladies and Gentlemen:

                  Activant Solutions Inc., a Delaware corporation (the
"Company"), proposes, subject to the terms and conditions stated herein, to
issue and sell (the "Offering") $145,000,000 aggregate principal amount of the
Company's Floating Rate Senior Notes due 2010 (the "Notes"). The Notes will be
issued pursuant to an indenture dated March 30, 2005, including any subsequently
executed supplemental indenture (the "Indenture"), between the Company, the
guarantors named therein and Wells Fargo Bank, N.A., as trustee (the "Trustee").
The Notes will initially be guaranteed on an unsecured senior basis (the
"Guarantees," and together with the Notes, the "Securities") by each of the
Company's direct and indirect subsidiaries (the "Subsidiaries") identified on
Schedule II hereto (collectively, the "Guarantors," and together with the
Company, the "Issuers". The Issuers hereby confirm their agreement with Deutsche
Bank Securities Inc. and J.P. Morgan Securities Inc. (each an "Initial
Purchaser", and together the "Initial Purchasers") concerning the purchase of
the Securities from the Issuers by the Initial Purchasers.

                  The Securities will be offered and sold to the Initial
Purchasers without being registered under the Securities Act of 1933, as amended
(the "Securities Act"), in reliance upon exemptions therefrom. The Company has
prepared a preliminary offering memorandum dated September 26, 2005 (the
"Preliminary Offering Memorandum") and will prepare a final offering memorandum
dated the date hereof (the "Final Offering Memorandum") setting forth
information concerning the Company, the Guarantors and the Securities. Copies of
the Preliminary Offering Memorandum have been, and copies of the Final Offering
Memorandum will be, delivered by the Issuers to the Initial Purchasers pursuant
to the terms of this Agreement. Any references herein to the Preliminary
Offering Memorandum and the Final Offering Memorandum shall be deemed to include
all amendments and supplements thereto and

<PAGE>
                                      -2-

any documents incorporated by reference therein, unless otherwise noted. The
Issuers hereby confirm that they have authorized the use of the Preliminary
Offering Memorandum and the Final Offering Memorandum in connection with the
offering and resale of the Securities by the Initial Purchasers in accordance
with Section 2.

                  Holders of the Notes (including the Initial Purchasers and
their direct and indirect transferees) will be entitled to the benefits of an
Exchange and Registration Rights Agreement substantially in the form attached
hereto as Annex A (the "Registration Rights Agreement"), pursuant to which the
Company and the Guarantors will agree to file with the Securities and Exchange
Commission (the "Commission") (i) a registration statement under the Securities
Act (the "Exchange Offer Registration Statement") registering an issue of senior
notes of the Company (the "Exchange Notes") and guarantees of the Guarantors
(together with the Exchange Notes, the "Exchange Securities") which are
identical in all material respects to the Notes and the Guarantees, respectively
(except that the Exchange Securities will not contain terms with respect to
transfer restrictions), and (ii) under certain circumstances, a shelf
registration statement pursuant to Rule 415 under the Securities Act (the "Shelf
Registration Statement").

                  Prior to the Offering,

                  (i)      the Company acquired (the "Acquisition") all of the
                           outstanding capital stock of Prophet 21, Inc.
                           ("P-21") pursuant to that certain Agreement and Plan
                           of Merger Agreement dated August 15, 2005 (the
                           "Acquisition Agreement"), between P-21, the Company,
                           P21 Merger Corporation and, for certain limited
                           purposes, Thoma Cressey Equity Partners, Inc.;

                  (ii)     the Company entered into that certain Senior Bridge
                           Loan Agreement dated as of September 13, 2005, among
                           Activant Solutions Holdings, Inc., a Delaware
                           corporation, as parent guarantor ("Holdings"), the
                           Company, Deutsche Bank AG Cayman Islands Branch and
                           JPMorgan Chase Bank, N.A., as initial lenders, the
                           other lenders, the Initial Purchasers as joint lead
                           arrangers and joint book runners, and Deutsche Bank
                           AG Cayman Islands Branch, as administrative agent
                           (the "Activant Bridge Loan");

                  (iii)    Holdings entered into that certain Senior Bridge Loan
                           Agreement dated as of September 13, 2005, among
                           Holdings, Deutsche Bank AG Cayman Islands Branch and
                           JPMorgan Chase Bank, N.A., as initial lenders, the
                           other lenders, Deutsche Bank Securities Inc. and J.P.
                           Morgan Securities Inc. as joint lead arrangers and
                           joint book runners, and Deutsche Bank AG Cayman
                           Islands Branch, as administrative agent (the
                           "Holdings Bridge Loan"); and

<PAGE>
                                      -3-

                  (iv)     the Company entered into that certain Fourth Amended
                           and Restated Credit Agreement (the "Credit Agreement
                           Amendment"), dated as of September 13, 2005, among
                           the Company as the Borrower, Holdings, the several
                           banks and other financial institutions from time to
                           time parties thereto, JPMorgan Chase Bank, N.A., as
                           administrative agent, and Deutsche Bank Securities
                           Inc. and J.P. Morgan Securities Inc. as joint lead
                           arrangers and joint bookrunners (the "Credit
                           Facility").

                  The proceeds of the Offering will be used to repay the
Activant Bridge Loan which was used to fund a portion of the purchase price
necessary to purchase all of the outstanding capital stock of P-21 and pay
transaction fees and expenses related to the Offering.

                  Capitalized terms used but not defined herein shall have the
meanings given to such terms in the Final Offering Memorandum.

                  1. Representations, Warranties and Agreements of the Issuers.
The Issuers represent and warrant, jointly and severally, to, and agree with,
the Initial Purchasers on the date hereof and the Closing Date (with respect to
those made at the Closing Date, after giving effect to the transactions
contemplated by this Agreement) that:

                  (a) The Preliminary Offering Memorandum, as of its date did
         not, and the Final Offering Memorandum, as of its date and as of the
         Closing Date (as defined in Section 3), did not (or will not) contain
         any untrue statement of a material fact or omit to state a material
         fact necessary in order to make the statements therein, in the light of
         the circumstances under which they were made, not misleading; provided,
         however, that the Issuers make no representation or warranty as to
         information contained in or omitted from the Preliminary Offering
         Memorandum or the Final Offering Memorandum in reliance upon and in
         conformity with written information relating to the Initial Purchasers
         furnished to the Issuers by or on behalf of the Initial Purchasers
         specifically for use therein (the "Initial Purchasers' Information").
         The parties hereto acknowledge and agree that, for all purposes of this
         Agreement, the Initial Purchasers' Information consists solely of the
         statements relating to the Initial Purchasers in the third paragraph,
         fifth and sixth sentences of the tenth paragraph, and the twelfth
         paragraph under the heading "Plan of distribution" in the Final
         Offering Memorandum.

                  (b) The Preliminary Offering Memorandum as of its date
         contained, and the Final Offering Memorandum, as of its date and as of
         the Closing Date, contained and will contain all of the information
         that, if requested by a prospective purchaser of the Securities, would
         be required to be provided to such prospective purchaser pursuant to
         Rule 144A(d)(4) under the Securities Act.

                  (c) Assuming the accuracy of the representations and
         warranties of the Initial Purchasers contained in Section 2 and their
         compliance with the agreements set

<PAGE>
                                      -4-

         forth herein, it is not necessary, in connection with the issuance and
         sale of the Securities to the Initial Purchasers and the offer, resale
         and delivery of the Securities by the Initial Purchasers in the manner
         contemplated by this Agreement and the Final Offering Memorandum, to
         register the Securities under the Securities Act or to qualify the
         Indenture under the Trust Indenture Act of 1939, as amended (the "Trust
         Indenture Act").

                  (d) The Issuers and each of their respective subsidiaries have
         been duly organized and are validly existing as corporations in good
         standing under the laws of their respective jurisdictions of
         incorporation, are duly qualified to do business and are in good
         standing as foreign corporations in each jurisdiction in which their
         respective ownership or lease of property or the conduct of their
         respective businesses requires such qualification, and have all power
         and authority necessary to own or hold their respective properties and
         to conduct the businesses in which they are engaged, except where the
         failure to so qualify or have such power or authority would not,
         singularly or in the aggregate, have a material adverse effect on the
         condition (financial or otherwise), results of operations, business or
         prospects of the Issuers and their respective subsidiaries taken as a
         whole (a "Material Adverse Effect").

                  (e) The authorized capital stock of the Company consists of
         1,000 shares of common stock, par value $.01 per share, and is owned by
         Holdings. All of the outstanding shares of capital stock of each
         subsidiary of the Company have been duly and validly authorized and
         issued, are fully paid and non-assessable and are owned directly or
         indirectly by the Company, free and clear of any lien, charge,
         encumbrance, security interest, restriction upon voting or transfer or
         any other claim of any third party (other than liens and security
         interests created pursuant to the Credit Facility, the related
         guarantees and security documents or any document or agreements
         contemplated thereby, or applicable law).

                  (f) The Issuers have all requisite corporate power and
         authority to execute and deliver, to the extent each is a party
         thereto, this Agreement, the Registration Rights Agreement, the
         Securities and the Exchange Securities (collectively, the "Transaction
         Documents") and to perform their obligations hereunder and thereunder.

                  (g) This Agreement has been duly authorized, executed and
         delivered by the Issuers.

                  (h) The Registration Rights Agreement has been duly authorized
         by the Issuers, and, when duly executed and delivered in accordance
         with its terms by each of the parties thereto, will constitute a valid
         and legally binding agreement of the Issuers, enforceable against the
         Issuers in accordance with its terms, except (i) to the extent that
         such enforceability may be limited by applicable bankruptcy,
         insolvency, reorganization, moratorium and other similar laws affecting
         creditors' rights generally and

<PAGE>
                                      -5-

         by general equitable principles (whether considered in a proceeding in
         equity or at law) (the "Enforceability Exceptions") and (ii) to the
         extent that the enforceability of rights to indemnification and
         contribution thereunder may be limited by federal or state securities
         laws or regulations or the public policy underlying such laws or
         regulations.

                  (i) The Indenture was duly authorized, executed and delivered
         by the Issuers and constitutes a valid and legally binding agreement of
         the Issuers enforceable against the Issuers in accordance with its
         terms, except to the extent that such enforceability may be limited by
         the Enforceability Exceptions.

                  (j) The Notes have been duly authorized by the Company and,
         when duly executed, authenticated, issued and delivered as provided in
         the Indenture and paid for as provided herein, will be duly and validly
         issued and outstanding and will constitute valid and legally binding
         obligations of the Company entitled to the benefits of the Indenture
         and enforceable against the Company in accordance with their terms,
         except to the extent that such enforceability may be limited by the
         Enforceability Exceptions.

                  (k) The Guarantees have been duly authorized by each of the
         Guarantors and when duly executed and delivered as provided in the
         Indenture and when the Notes are paid for and delivered as provided
         herein, will be duly and validly issued and outstanding and will
         constitute valid and legally binding obligations of each Guarantor
         entitled to the benefits of the Indenture and enforceable against each
         such Guarantor in accordance with their terms, except to the extent
         that such enforceability may be limited by the Enforceability
         Exceptions.

                  (l) The Exchange Securities have been duly authorized by the
         Issuers to the extent each will be an obligor thereunder, and, when
         duly executed, authenticated, issued and delivered as provided in the
         Indenture and the Registration Rights Agreement, will be duly and
         validly issued and outstanding and will constitute valid and legally
         binding obligations of the Issuers entitled to the benefits of the
         Indenture and enforceable against the Issuers in accordance with their
         terms, except to the extent that such enforceability may be limited by
         the Enforceability Exceptions.

                  (m) The execution, delivery and performance by the Issuers and
         their respective subsidiaries of each of the Transaction Documents, to
         the extent each is a party thereto, the issuance, authentication, sale
         and delivery of the Securities by the Issuers and compliance by such
         Issuers with the terms thereof and the consummation by the Issuers and
         their respective subsidiaries, as applicable, of the transactions
         contemplated by the Transaction Documents (the "Transactions") do not
         and will not conflict with or result in a breach or violation of any of
         the terms or provisions of, or constitute a default under, or, except
         as permitted by the Transaction Documents, result in the creation or
         imposition of any lien, charge or encumbrance upon any property or
         assets

<PAGE>
                                      -6-

         of the Issuers or any of their respective subsidiaries pursuant to, any
         indenture, mortgage, deed of trust, loan agreement or other agreement
         or instrument to which the Issuers or any of their respective
         subsidiaries are parties or by which the Issuers or any of their
         respective subsidiaries are bound or to which any of the property or
         assets of the Issuers or any of their respective subsidiaries are
         subject, except for any such conflict, breach, violation, default,
         lien, charge or encumbrance that has been waived and except for any
         such conflict, breach, violation, default, lien, charge or encumbrance
         that could not, singly or in the aggregate, reasonably be expected to
         have a Material Adverse Effect or any material adverse effect on the
         ability of the Issuers to perform their respective obligations under
         the Transaction Documents; nor will such actions result in any
         violation of the provisions of the charter or bylaws of the Issuers or
         any of their respective subsidiaries or result in any violation of any
         statute or any order, rule or regulation of any court or arbitrator or
         governmental agency or body having jurisdiction over the Issuers or any
         of their respective subsidiaries or any of their properties or assets
         except such violation of any statute or any order, rule or regulation
         that could not, singly or in the aggregate, reasonably be expected to
         have a Material Adverse Effect; and, except for such consents,
         approvals, authorizations, orders, filings, registrations or
         qualifications which have been obtained or made or as may be required
         under (i) applicable Blue Sky or securities laws in connection with the
         purchase and resale of the Securities by the Initial Purchasers, (ii)
         the Trust Indenture Act in connection with the Exchange Securities or
         (iii) the Securities Act and state Blue Sky laws or securities laws in
         connection with the actions contemplated by the Registration Rights
         Agreement, no material consent, approval, authorization or order of, or
         filing or registration with, any such court or arbitrator or
         governmental agency or body is required for the execution, delivery and
         performance by the applicable Issuers of each of the Transaction
         Documents, the issuance, authentication, sale and delivery by the
         Issuers of the Securities and compliance by the Issuers with the terms
         thereof and the consummation by the Issuers of the other Transactions.

                  (n) Each Transaction Document, to the extent described in the
         Final Offering Memorandum, will conform in all material respects to the
         description of such Transaction Document contained in the Final
         Offering Memorandum.

                  (o) (i) Ernst & Young LLP are independent public accountants
         with respect to the Issuers and their respective subsidiaries within
         the meaning of Rule 101 of the Code of Professional Conduct of the
         American Institute of Certified Public Accountants ("AICPA") and its
         interpretations and rulings thereunder, (ii) the historical financial
         statements of the Company (including the related notes) contained in
         the Preliminary Offering Memorandum and the Final Offering Memorandum
         have been prepared in conformity with generally accepted accounting
         principles in the United States consistently applied throughout the
         periods covered thereby and fairly present, in all material respects,
         the financial condition and the results of operations of the entities

<PAGE>
                                      -7-

         purported to be covered thereby for the respective periods indicated
         except as otherwise disclosed therein and (iii) the unaudited pro forma
         condensed combined financial statements (including the notes thereto)
         and the other pro forma financial information included in the
         Preliminary Offering Memorandum and the Final Offering Memorandum
         comply as to form in all material respects with the applicable
         requirements of Regulation S-X promulgated under the Securities
         Exchange Act of 1934, as amended (the "Exchange Act"), except for the
         inclusion of the additional twelve month period ended June 30, 2005;
         the assumptions underlying the pro forma financial information included
         in the Preliminary Offering Memorandum and the Final Offering
         Memorandum include all assumptions required to give effect to the
         transactions and events described in the notes thereto, are reasonable
         and are set forth in the Preliminary Offering Memorandum and the Final
         Offering Memorandum and the pro forma adjustments give proper effect to
         those assumptions and reflect the proper application of those
         adjustments to the applicable historical financial statements included
         in the Preliminary Offering Memorandum and the Final Offering
         Memorandum. The financial information contained in the Preliminary
         Offering Memorandum and the Final Offering Memorandum under the
         headings "Summary Unaudited Pro Forma Condensed Combined Financial and
         Operating Data of Holdings and the Company," "Capitalization,"
         "Selected Historical Consolidated Financial Data of Holdings and the
         Company" and "Management's Discussion and Analysis of Financial
         Condition and Results of Operations" is derived from the accounting
         records of the entities purported to be covered thereby and fairly
         present in all material respects the information purported to be shown
         thereby.

                  (p) To the Company's knowledge, (i) KPMG LLP (Montreal) are
         auditors of Speedware Corporation Inc. ("Speedware") and independent
         within the meaning of the Code of Ethics of the Ordre des comptables
         agrees du Quebec and within the meaning of the Securities Act and the
         applicable rules and regulations thereunder and (ii) the historical
         financial statements of Speedware, including the notes thereto, as
         contained in the Preliminary Offering Memorandum and the Final Offering
         Memorandum were prepared in accordance with generally accepted
         accounting principles in Canada applied on a basis consistent with
         prior periods, except as noted therein, are correct in all material
         respects, are complete and present fairly the assets, liabilities
         (whether accrued, absolute, contingent or otherwise) and financial
         condition of Speedware and its subsidiaries on a consolidated basis as
         at the respective dates thereof and the results of operations of
         Speedware and its subsidiaries on a consolidated basis for the
         respective periods covered thereby.

                  (q) To the Company's knowledge, (i) KPMG LLP (Philadelphia)
         are independent public accountants with respect to P-21 and its
         subsidiaries within the meaning of Rule 101 of the Code of Professional
         Conduct of the AICPA and its interpretations and rulings thereunder,
         (ii) the historical financial statements of P-21 (including

<PAGE>
                                      -8-

         the related notes) contained in the Preliminary Offering Memorandum and
         the Final Offering Memorandum have been prepared in conformity with
         generally accepted accounting principles in the United States
         consistently applied throughout the periods covered thereby, except as
         noted therein, are correct in all material respects, are complete and
         present fairly the assets, liabilities (whether accrued, absolute,
         contingent or otherwise) and financial condition of P-21 and its
         subsidiaries on a consolidated basis as at the respective dates thereof
         and the results of operations of P-21 and its subsidiaries on a
         consolidated basis for the respective periods covered thereby.

                  (r) There are no legal or governmental proceedings pending to
         which the Issuers or any of their respective subsidiaries is a party or
         of which any property or assets of the Issuers or any of their
         respective subsidiaries or affiliates is the subject which, singularly
         or in the aggregate, if determined adversely to the Issuers or any of
         their respective subsidiaries or affiliates, could reasonably be
         expected to have a Material Adverse Effect; and to the best knowledge
         of the Issuers no such proceedings are threatened or contemplated by
         governmental authorities or threatened by others.

                  (s) No injunction, restraining order or order of any nature by
         any federal or state court of competent jurisdiction has been issued
         with respect to the Issuers or any of their respective subsidiaries
         which would prevent or suspend the issuance or sale of the Securities
         or the use of the Final Offering Memorandum in any jurisdiction; no
         action, suit or proceeding is pending against or, to the best knowledge
         of the Issuers threatened against or affecting the Issuers or any of
         their respective subsidiaries before any court or arbitrator or any
         governmental agency, body or official, domestic or foreign, which could
         reasonably be expected to interfere with or adversely affect the
         issuance of the Securities or in any manner draw into question the
         validity or enforceability of any of the Transaction Documents or any
         action taken or to be taken pursuant thereto.

                  (t) None of the Issuers nor any of their respective
         subsidiaries is (i) in violation of its charter or by-laws, (ii) in
         default, and no event has occurred which, with notice or lapse of time
         or both, would constitute such a default, in the due performance or
         observance of any term, covenant or condition contained in any material
         indenture, mortgage, deed of trust, loan agreement or other material
         agreement or instrument to which it is a party or by which it is bound
         or to which any of its property or assets is subject which could
         reasonably be expected to have a Material Adverse Effect or (iii) in
         violation of any applicable law, ordinance, court decree, governmental
         rule or regulation to which it or its material property or assets may
         be subject which could reasonably be expected to have a Material
         Adverse Effect.

                  (u) The Issuers and each of their respective subsidiaries
         possess all licenses, orders, certificates, authorizations, approvals
         and permits issued by, and have

<PAGE>
                                      -9-

         made all declarations, applications, reports, instruments, information
         and filings with, the appropriate federal, state or foreign regulatory
         agencies or bodies that are necessary or desirable for the ownership of
         their respective properties or the conduct of their respective
         businesses as described in the Final Offering Memorandum and such
         declarations, applications, reports, instruments, information and
         filings are true, correct and complete in all material respects, except
         where the failure to possess or make the same would not, singularly or
         in the aggregate, have a Material Adverse Effect, and neither any of
         the Issuers nor any of their respective subsidiaries has received
         notification of any revocation or modification of any such license,
         certificate, authorization or permit that is generally renewable in the
         ordinary course or has any reason to believe that any such license,
         certificate, authorization or permit will not be renewed in the
         ordinary course.

                  (v) None of the Issuers or any of their respective
         subsidiaries is an open-end investment company, unit investment trust
         or face-amount certificate company that is or is required to be
         registered under Section 8 of the United States Investment Company Act
         of 1940, as amended (the "Investment Company Act"), nor are any of them
         a closed-end investment company required to be registered, but not
         registered, thereunder; and none of the Issuers is and, after giving
         effect to the offering and sale of the Securities and the application
         of the proceeds thereof as described in the Final Offering Memorandum,
         none of the Issuers will be, an "investment company" as defined in the
         Investment Company Act.

                  (w) The Issuers and each of their respective subsidiaries
         maintain a system of internal accounting controls sufficient to provide
         reasonable assurance that (i) transactions are executed in accordance
         with management's general or specific authorizations; (ii) transactions
         are recorded as necessary to permit preparation of financial statements
         in conformity with generally accepted accounting principles and to
         maintain asset accountability; (iii) access to assets is permitted only
         in accordance with management's general or specific authorization; and
         (iv) the recorded accountability for assets is compared with the
         existing assets at reasonable intervals and appropriate action is taken
         with respect to any differences.

                  (x) There is and has been no failure on the part of the
         Company and any of the Company's directors or officers, in their
         capacities as such, to comply in all material respects with any
         provision of the Sarbanes Oxley Act of 2002 (the "Sarbanes-Oxley Act")
         and the rules and regulations promulgated in connection therewith,
         including Section 402 related to loans and Sections 302 and 906 related
         to certifications; the chief executive officer and the chief financial
         officer of the Company have made all certifications required by the
         Sarbanes-Oxley Act and any related rules and regulations promulgated by
         the Commission, and the statements contained in any such certification
         are complete and correct;

<PAGE>
                                      -10-

                  (y) The Issuers and each of their respective subsidiaries have
         insurance covering their respective properties, operations, personnel
         and businesses, which insurance is in amounts and insures against such
         losses and risks as are in the Issuers' opinion adequate to protect the
         Issuers and their respective subsidiaries and their respective
         businesses. None of the Issuers or any of their respective subsidiaries
         have received notice from any insurer or agent of such insurer that
         capital improvements or other expenditures are required or necessary to
         be made in order to continue such insurance.

                  (z) The Issuers and each of their respective subsidiaries own
         or possess adequate rights to use all material patents, patent
         applications, trademarks, service marks, trade names, trademark
         registrations, service mark registrations, copyrights, licenses and
         know-how (including trade secrets and other unpatented and/or
         unpatentable proprietary or confidential information, systems or
         procedures) necessary for the conduct of their respective businesses as
         described in the Final Offering Memorandum; and the conduct of their
         respective businesses does not conflict in any material respect with,
         and the Issuers and their respective subsidiaries have not received any
         notice of any claim of conflict with, any such rights of others.

                  (aa) The Issuers and each of their respective subsidiaries
         have good and marketable title in fee simple to, or have valid rights
         to lease or otherwise use, all items of real and personal property
         which are material to the business of the Issuers and their respective
         subsidiaries, taken as a whole, in each case free and clear of all
         liens, encumbrances and defects other than (i) liens and encumbrances
         granted pursuant to the Credit Facility and (ii) liens, encumbrances
         and defects that do not materially interfere with the use made and
         proposed to be made of such property by the Issuers and their
         respective subsidiaries or could not reasonably be expected to have a
         Material Adverse Effect.

                  (bb) No labor disturbance by or dispute with the employees of
         the Issuers or any of their respective subsidiaries exists or, to the
         best knowledge of the Issuers is imminent, which could reasonably be
         expected to have a Material Adverse Effect.

                  (cc) There has been no storage, generation, transportation,
         handling, treatment, disposal, discharge, emission or other release or
         threatened release of any kind of toxic or other wastes or other
         hazardous substances by, due to or caused by the Issuers or any of
         their respective subsidiaries (or, to the best knowledge of the
         Issuers, any other entity (including any predecessor) for whose acts or
         omissions the Issuers or any of their respective subsidiaries are or
         could reasonably be expected to be liable) upon any property now or
         previously owned or leased by the Issuers or any of their respective
         subsidiaries, or upon any other property, in violation of any statute
         or any ordinance, rule, regulation, order, judgment, decree or permit
         or which would, under any

<PAGE>
                                      -11-

         statute or any ordinance, rule (including rule of common law),
         regulation, order, judgment, decree or permit, give rise to any
         liability except for any violation or liability which would not have,
         singularly or in the aggregate with all such violations and
         liabilities, a Material Adverse Effect; and there has been no disposal,
         discharge, emission or other release of any kind onto such property or
         into the environment surrounding such property of any toxic or other
         wastes or other hazardous substances with respect to which the Issuers
         have knowledge, except for any such disposal, discharge, emission or
         other release of any kind which would not have, singularly or in the
         aggregate with all such disposal, discharge, emission and other
         release, a Material Adverse Effect.

                  (dd) No "prohibited transaction" (as defined in Section 406 of
         the Employee Retirement Income Security Act of 1974, as amended,
         including the regulations and published interpretations thereunder
         ("ERISA"), or Section 4975 of the Internal Revenue Code of 1986, as
         amended from time to time (the "Code")) or "accumulated funding
         deficiency" (as defined in Section 302 of ERISA) or any of the events
         set forth in Section 4043(b) of ERISA (other than events with respect
         to which the 30-day notice requirement under Section 4043 of ERISA has
         been waived) has occurred with respect to any employee benefit plan of
         the Issuers or any of their respective subsidiaries which could
         reasonably be expected to have a Material Adverse Effect; each such
         employee benefit plan is in compliance in all material respects with
         applicable law, including ERISA and the Code; the Issuers and each of
         their respective subsidiaries have not incurred and do not expect to
         incur liability under Title IV of ERISA with respect to the termination
         of, or withdrawal from, any pension plan for which the Issuers or any
         of their respective subsidiaries would have any liability; and each
         such pension plan that is intended to be qualified under Section 401(a)
         of the Code is so qualified in all material respects and nothing has
         occurred, whether by action or by failure to act, which could
         reasonably be expected to cause the loss of such qualification.

                  (ee) On the Closing Date, the Company and its subsidiaries
         taken as a whole (after giving effect to the Transactions), will be
         Solvent. As used in this paragraph, the term "Solvent" means, with
         respect to a particular date, that on such date (i) the present fair
         market value (or present fair saleable value) of the assets of the
         Company and its subsidiaries is not less than the total amount of the
         liabilities of the Company and its subsidiaries on their total existing
         debts and liabilities (including contingent liabilities); (ii) the
         Company and its subsidiaries are able to realize upon their assets and
         pay their debts and other liabilities, contingent obligations and
         commitments as they mature and become due in the normal course of
         business; (iii) assuming consummation of the issuance of the Securities
         and the related transactions as contemplated by this Agreement and the
         Final Offering Memorandum, the Company and its subsidiaries are not
         incurring debts or liabilities beyond their ability to pay as such
         debts and liabilities mature; (iv) the Company and its subsidiaries are
         not engaged in

<PAGE>
                                      -12-

         any business or transaction, and does not propose to engage in any
         business or transaction, for which their property would constitute
         unreasonably small capital after giving due consideration to the
         prevailing practice in the industry in which the Company is engaged;
         and (v) the Company and its subsidiaries are not otherwise insolvent
         under applicable federal or state laws.

                  (ff) No holder of securities of the Issuers or any of their
         respective subsidiaries will be entitled to have such securities
         registered under the registration statements required to be filed by
         the Issuers pursuant to the Registration Rights Agreement, to the
         extent each is a party thereto, other than as expressly permitted
         thereby or that has been waived.

                  (gg) No forward-looking statement (within the meaning of
         Section 27A of the Securities Act and Section 21E of the Exchange Act)
         contained in the Preliminary Offering Memorandum and the Final Offering
         Memorandum has been made or reaffirmed without a reasonable basis or
         has been disclosed other than in good faith.

                  (hh) Nothing has come to the attention of the Company that has
         caused the Company to believe that the statistical and market-related
         data included in the Preliminary Offering Memorandum and the Final
         Offering Memorandum is not based on or derived from sources that are
         reliable and accurate in all material respects.

                  (ii) None of the proceeds of the sale of the Securities will
         be used, directly or indirectly, for the purpose of purchasing or
         carrying any margin security, for the purpose of reducing or retiring
         any indebtedness which was originally incurred to purchase or carry any
         margin security or for any other purpose which might cause any of the
         Securities to be considered a "purpose credit" within the meanings of
         Regulation T, U or X of the Board of Governors of the Federal Reserve
         System.

                  (jj) Except as disclosed in the Final Offering Memorandum,
         neither the Issuers nor any of their respective subsidiaries is a party
         to any contract agreement or understanding with any person that would
         give rise to a valid claim against the Issuers or the Initial
         Purchasers for a brokerage commission, finders' fee or like payment in
         connection with the offering and sale of the Securities.

                  (kk) The Notes satisfy the eligibility requirements of Rule
         144A(d)(3) under the Securities Act.

                  (ll) Neither any of the Issuers nor any Affiliate (as defined
         in Rule 501(b) of Regulation D under the Securities Act ("Regulation
         D")) has directly, or through any agent (provided that no
         representation is made as to the Initial Purchasers or any Person
         acting on its behalf): (i) sold, offered for sale, solicited offers to
         buy or otherwise negotiated in respect of any "security" (as defined in
         the Securities Act) which sale, offer,

<PAGE>
                                      -13-

         solicitation or negotiation is or will be integrated with the sale of
         the Securities in a manner that would require the registration under
         the Securities Act of the Securities or (ii) engaged in any form of
         general solicitation or general advertising (as those terms are used in
         Regulation D) in connection with the offering of the Securities.

                  (mm) When the Securities are delivered pursuant to this
         Agreement, none of the Securities will be of the same class (within the
         meaning of Rule 144A under the Securities Act) as securities of the
         Issuers or any of their respective subsidiaries that are listed on a
         national securities exchange registered under Section 6 of the Exchange
         Act or that are quoted in a United States automated inter-dealer
         quotation system other than the PORTAL market.

                  (nn) None of the Issuers or any of their respective Affiliates
         (as defined in Rule 501(b) of Regulation D), nor any person acting on
         behalf of any of them (other than the Initial Purchasers) (i) has,
         within the six-month period prior to the date hereof, offered or sold
         in the United States or to any U.S. person (as such terms are defined
         in Regulation S under the Securities Act ("Regulation S")) the
         Securities or any security of the same class or series as the
         Securities (A) in the United States by means of any form of general
         solicitation or general advertising within the meaning of Rule 502(c)
         under the Securities Act or (B) with respect to any such securities
         sold in reliance on Rule 903 of Regulation S, by means of any directed
         selling efforts within the meaning of Rule 902(b) of Regulation S. The
         Issuers and their respective affiliates, and any person acting on
         behalf of any of them (other than the Initial Purchasers) have complied
         and will comply with the offering restrictions requirement of
         Regulation S. The Issuers have not entered and will not enter into any
         contractual arrangement with respect to the distribution of the
         Securities except for this Agreement and the Registration Rights
         Agreement, to the extent each is party thereto.

                  (oo) Since June 30, 2005, except as set forth in the Final
         Offering Memorandum (i) both before and after giving effect to the
         Transactions, there has been no material adverse change or any
         development involving a prospective material adverse change in the
         condition, financial or otherwise, or in the earnings, business
         affairs, management or business prospects of the Issuers, whether or
         not arising in the ordinary course of business, (ii) none of the
         Issuers, nor any of their respective subsidiaries has incurred any
         liability or obligation, direct or indirect, absolute or contingent,
         other than in the ordinary course of business, which would, singly or
         in the aggregate, have a Material Adverse Effect, (iii) there has not
         been any change in the capital stock or long-term debt of any of the
         Issuers or any of their respective subsidiaries, or any dividend or
         distribution of any kind declared, paid or made by any of the Issuers
         or any of their respective subsidiaries on any class of its capital
         stock.

<PAGE>
                                      -14-

                  2. Purchase and Resale of the Securities.

         (a) On the basis of the representations, warranties and agreements
contained herein, and subject to the terms and conditions set forth herein, the
Company agrees to issue and sell to the Initial Purchasers, and each of the
Initial Purchasers agrees, severally and not jointly, to purchase from the
Company, the aggregate principal amount of Notes set forth opposite its name in
Schedule 1 hereto at a purchase price equal to 97.25% of the principal amount
thereof. No Issuer shall be obligated to deliver any of the Securities except
upon payment for all of the Notes to be purchased from the Issuers as provided
herein.

         (b) The Initial Purchasers have advised the Issuers that they propose
to offer the Securities for resale upon the terms and subject to the conditions
set forth herein and in the Final Offering Memorandum. Each Initial Purchaser,
severally and not jointly, represents and warrants to, and agrees with, the
Issuers that (i) it is purchasing the Securities pursuant to a private sale
exemption from registration under the Securities Act, (ii) it has not solicited
offers for, or offered or sold, and will not solicit offers for, or offer or
sell, the Securities by means of any form of general solicitation or general
advertising within the meaning of Rule 502(c) of Regulation D or in any manner
involving a public offering within the meaning of Section 4(2) of the Securities
Act and (iii) it has solicited and will solicit offers for the Securities only
from, and has offered or sold and will offer, sell or deliver the Securities, as
part of its initial offering, only (A) within the United States to persons whom
it reasonably believes to be qualified institutional buyers ("Qualified
Institutional Buyers"), as defined in Rule 144A under the Securities Act ("Rule
144A"), or if any such person is buying for one or more institutional accounts
for which such person is acting as fiduciary or agent, only when such person has
represented to it that each such account is a Qualified Institutional Buyer to
whom notice has been given that such sale or delivery is being made in reliance
on Rule 144A and in each case, in transactions in accordance with Rule 144A and
(B) outside the United States to persons other than U.S. persons in reliance on
Regulation S.

         (c) In connection with the offer and sale of Securities in reliance on
Regulation S, each Initial Purchaser, severally and not jointly, represents,
warrants and agrees that:

                  (i) The Securities have not been registered under the
         Securities Act and may not be offered or sold within the United States
         or to, or for the account or benefit of, U.S. persons except pursuant
         to an exemption from, or in transactions not subject to, the
         registration requirements of the Securities Act.

                  (ii) The Initial Purchasers have offered and sold the
         Securities, and will offer and sell the Securities, (A) as part of
         their distribution at any time and (B) otherwise until 40 days after
         the later of the commencement of the offering of the Securities and the
         Closing Date, only in accordance with Regulation S or Rule 144A or any
         other available exemption from registration under the Securities Act.

                  (iii) Neither of the Initial Purchasers nor any of their
         respective affiliates nor any other person acting on their behalf has
         engaged or will engage in any directed

<PAGE>
                                      -15-

         selling efforts (as defined in Regulation S) with respect to the
         Securities, and all such persons have complied and will comply with the
         offering restrictions requirement of Regulation S.

                  (iv) At or prior to the confirmation of sale of any Securities
         sold in reliance on Regulation S, the Initial Purchasers will have sent
         to each distributor, dealer or other person receiving a selling
         concession, fee or other remuneration that purchases Securities from
         them during the restricted period a confirmation or notice to
         substantially the following effect:

                  "The Securities covered hereby have not been registered under
                  the U.S. Securities Act of 1933, as amended (the "Securities
                  Act"), and may not be offered or sold within the United States
                  or to, or for the account or benefit of, U.S. persons (i) as
                  part of their distribution at any time or (ii) otherwise until
                  40 days after the later of the commencement of the offering of
                  the Securities and the date of original issuance of the
                  Securities, except in accordance with Regulation S or Rule
                  144A or any other available exemption from registration under
                  the Securities Act. Terms used above have the meanings given
                  to them by Regulation S."

                  (v) The Initial Purchasers have not and will not enter into
         any contractual arrangement with any distributor with respect to the
         distribution of the Securities, except with their affiliates or with
         the prior written consent of the Issuers.

Terms used in this Section 2(c) have the meanings given to them by Regulation S.

         (d) Each Initial Purchaser, severally and not jointly, agrees that,
prior to or simultaneously with the confirmation of sale by such Initial
Purchaser to any purchaser of any of the Securities purchased by such Initial
Purchaser from the applicable Issuers pursuant hereto, such Initial Purchaser
shall furnish to that purchaser a copy of the Final Offering Memorandum (and any
amendment or supplement thereto that the Issuers shall have furnished to such
Initial Purchaser prior to the date of such confirmation of sale), but excluding
any document incorporated by reference therein. In addition to the foregoing,
each Initial Purchaser, severally and not jointly, acknowledges and agrees that
the Issuers and, for purposes of the opinions to be delivered to the Initial
Purchasers pursuant to Sections 5(d), 5(e) and 5(f) counsel for the Issuers and
for the Initial Purchasers, respectively, may rely upon the accuracy of the
representations and warranties of each Initial Purchaser and their compliance
with their agreements contained in this Section 2, and each Initial Purchaser
hereby consents to such reliance.

         (e) The Issuers acknowledge and agree that each Initial Purchaser may
sell Securities to any affiliate of such Initial Purchaser and that any such
affiliate may sell Securities purchased by it to such Initial Purchaser.

<PAGE>
                                      -16-

         (f) Each Initial Purchaser, severally and not jointly, agrees that:

                           (i) it has not offered or sold and, prior to the date
                  six months after the Closing Date, will not offer or sell any
                  Securities to persons in the United Kingdom except to persons
                  whose ordinary activities involve them in acquiring, holding,
                  managing or disposing of investments (as principal or agent)
                  for the purposes of their businesses or otherwise in
                  circumstances which have not resulted and will not result in
                  an offer to the public in the United Kingdom within the
                  meaning of the United Kingdom Public Offers of Securities
                  Regulations 1995 (as amended);

                           (ii) it has only communicated or caused to be
                  communicated and will only communicate or cause to be
                  communicated any invitation or inducement to engage in
                  investment activity (within the meaning of Section 21 of the
                  United Kingdom Financial Services and Markets Act 2000 (the
                  "FSMA")) received by it in connection with the issue or sale
                  of any Securities in circumstances in which Section 21(1) of
                  the FSMA does not apply to the Issuers; and

                           (iii) it has complied and will comply with all
                  applicable provisions of the FSMA with respect to anything
                  done by it in relation to the Securities in, from or otherwise
                  involving the United Kingdom.

                           (iv) in relation to each Member State of the European
                  Economic Area which has implemented the Prospectus Directive
                  (each, a "Relevant Member State"), from and including the date
                  on which the Prospectus Directive is implemented in that
                  Relevant Member State (the "Relevant Implementation Date") it
                  has not made and will not make an offer of the Securities to
                  the public in that Relevant Member State prior to the
                  publication of a prospectus in relation to the Securities
                  which has been approved by the competent authority in that
                  Relevant Member State or, where appropriate, approved in
                  another Relevant Member State and notified to the competent
                  authority in that Relevant Member State, all in accordance
                  with the Prospectus Directive, except that it may, with effect
                  from and including the Relevant Implementation Date, make an
                  offer of the Securities to the public in that Relevant Member
                  State at any time:

                           (a) to legal entities which are authorized or
                           regulated to operate in the financial markets or, if
                           not so authorized or regulated, whose corporate
                           purpose is solely to invest in securities;

                           (b) to any legal entity which meets two or more of
                           the following criteria: (1) an average of at least
                           250 employees during the last

<PAGE>
                                      -17-

                           financial year; (2) a total balance sheet of more
                           than E.43,00,000; and (3) an annual net turnover
                           of more than E.50,000,000, in each case as determined
                           in accordance with the Prospectus Directive and as
                           shown in its last annual or consolidated accounts; or

                           (c) in any other circumstances which do not require
                           the publication of a prospectus pursuant to Article 3
                           of the Prospectus Directive.

                           For the purposes of this clause (f), the expression
                  an "offer of the Securities to the public" in relation to any
                  Securities in any Relevant Member State means the
                  communication in any form and by any means, presenting
                  sufficient information on the terms of the offer and the
                  Securities to be offered, so as to enable an investor to
                  decide to purchase or subscribe to the Securities, as the same
                  may be varied in that Relevant Member State by any measure
                  implementing the Prospectus Directive in that Member State and
                  the expression "Prospectus Directive" means Directive
                  2003/71/EC and includes any relevant implementing measure in
                  the applicable Relevant Member State.

                  3. Delivery of and Payment for the Securities. (a) Delivery of
and payment for the Securities shall be made at the offices of Weil, Gotshal &
Manges LLP, Dallas, Texas or at such other place as shall be agreed upon by the
Initial Purchasers and the Issuers, at 9:00 A.M., Dallas time, on October 17,
2005, or at such other time or date, not later than seven full business days
thereafter, as shall be agreed upon by the Initial Purchasers and the Issuers
(such date and time of payment and delivery being referred to herein as the
"Closing Date").

         (b) On the Closing Date, payment of the purchase price for the
Securities shall be made to the Company by wire or book-entry transfer of
same-day funds to such account or accounts as the Company shall specify prior to
the Closing Date or by such other means as the parties hereto shall agree prior
to the Closing Date against delivery to the Initial Purchasers of the
certificates evidencing the Securities. Time shall be of the essence, and
delivery at the time and place specified pursuant to this Agreement is a further
condition of the obligations of each Initial Purchaser hereunder. Upon delivery,
the Securities shall be in global form, registered in such names and in such
denominations as the Initial Purchasers shall have requested in writing not less
than two full business days prior to the Closing Date. The Issuers agree to make
one or more global certificates evidencing the Securities available for
inspection by the Initial Purchasers in New York, New York at least 24 hours
prior to the Closing Date.

                  4. Further Agreements of the Issuers. The Issuers, jointly and
severally, agree with each Initial Purchaser:

<PAGE>
                                      -18-

                  (a) to advise the Initial Purchasers promptly and, if
         requested, confirm such advice in writing, of the happening of any
         event which makes any statement of a material fact made in the
         Preliminary Offering Memorandum or the Final Offering Memorandum untrue
         or which requires the making of any additions to or changes in the
         Preliminary Offering Memorandum or the Final Offering Memorandum (as
         amended or supplemented from time to time) in order to make the
         statements therein, in the light of the circumstances under which they
         were made, not misleading; to advise the Initial Purchasers promptly of
         any order preventing or suspending the use of the Preliminary Offering
         Memorandum or the Final Offering Memorandum, of any suspension of the
         qualification of the Securities for offering or sale in any
         jurisdiction and of the initiation or threatening of any proceeding for
         any such purpose; and to use their reasonable best efforts to prevent
         the issuance of any such order preventing or suspending the use of the
         Preliminary Offering Memorandum or the Final Offering Memorandum or
         suspending any such qualification and, if any such suspension is
         issued, to obtain the lifting thereof at the earliest possible time;

                  (b) to furnish to the Initial Purchasers, without charge, as
         many copies of the Preliminary Offering Memorandum and the Final
         Offering Memorandum (and any amendments or supplements thereto) as may
         be reasonably requested; provided that, in the event of any amendment
         or supplement to the Final Offering Memorandum, the Initial Purchasers
         shall have been given a reasonable opportunity to comment thereon, and
         copies thereof shall have been delivered to the Initial Purchasers
         reasonably in advance of the Closing Date;

                  (c) prior to making any amendment or supplement to the
         Preliminary Offering Memorandum or the Final Offering Memorandum, to
         furnish a copy thereof to the Initial Purchasers and counsel for the
         Initial Purchasers and not to effect any such amendment or supplement
         to which the Initial Purchasers shall reasonably object by notice to
         the Issuers after a reasonable period of review, which shall not be in
         any case longer than five business days after receipt of such copy;

                  (d) if, at any time prior to completion of the initial resale
         of the Securities by the Initial Purchasers, any event shall occur or
         condition exist as a result of which it is necessary, in the opinion of
         counsel for the Initial Purchasers or counsel for the Issuers, to amend
         or supplement the Final Offering Memorandum in order that the Final
         Offering Memorandum will not include an untrue statement of a material
         fact or omit to state a material fact required to be stated therein
         necessary in order to make the statements therein, in the light of the
         circumstances existing at the time it is delivered to a purchaser, not
         misleading, or if it is necessary to amend or supplement the Final
         Offering Memorandum to comply with applicable law, to promptly prepare
         such amendment or supplement as may be necessary to correct such untrue
         statement or

<PAGE>
                                      -19-

         omission so that the Final Offering Memorandum, as so amended or
         supplemented, will comply with applicable law;

                  (e) for so long as the Securities are outstanding and are
         "restricted securities" within the meaning of Rule 144(a)(3) under the
         Securities Act, to furnish to holders of the Securities and prospective
         purchasers of the Securities designated by such holders, upon request
         of such holders or such prospective purchasers, the information
         required to be delivered pursuant to Rule 144A(d)(4) under the
         Securities Act, unless the Company is then subject to and in compliance
         with Section 13 or 15(d) of the Exchange Act;

                  (f) for a period of three years following the Closing Date, to
         furnish to the Initial Purchasers copies of any annual reports,
         quarterly reports and current reports filed by the Issuers with the
         Commission on Forms 10-K, 10-Q and 8-K, or such other similar forms as
         may be designated by the Commission, and such other documents, reports
         and information as shall be furnished by the Issuers to the Trustee or
         to the holders of the Securities pursuant to the Indenture or the
         Exchange Act or any rule or regulation of the Commission thereunder;
         provided, however, that any reports or information accepted for filing
         by the Commission and readily available on the Internet shall be deemed
         to have been provided to the Initial Purchasers;

                  (g) to use their reasonable best efforts to qualify the
         Securities for sale under the state securities or Blue Sky laws of such
         jurisdictions as the Initial Purchasers may reasonably designate and to
         continue such qualifications in effect for so long as required for the
         distribution of the Securities; provided, however, that the Issuers and
         their respective subsidiaries shall not be obligated to qualify as a
         foreign corporation in any jurisdiction where it is not then qualified
         or to take any action which would subject it to general service of
         process or to taxation in any such jurisdiction where it is not then so
         subject;

                  (h) to use their reasonable best efforts to assist the Initial
         Purchasers in arranging for the Securities to be designated Private
         Offerings, Resales and Trading through Automated Linkages ("PORTAL")
         Market securities in accordance with the rules and regulations adopted
         by the National Association of Securities Dealers, Inc. ("NASD")
         relating to trading in the PORTAL Market and for the Securities to be
         eligible for clearance and settlement through The Depository Trust
         Company ("DTC");

                  (i) not to, and to cause their affiliates not to, sell, offer
         for sale or solicit offers to buy or otherwise negotiate in respect of
         any security (as such term is defined in the Securities Act) which
         could be integrated with the sale of the Securities in a manner which
         would require registration of the Securities under the Securities Act;

<PAGE>
                                      -20-

                  (j) except following the effectiveness of the Exchange Offer
         Registration Statement or the Shelf Registration Statement, as the case
         may be, not to, and to cause its affiliates (as such term is defined in
         Rule 501(B) of Regulation D) not to, and not to authorize or knowingly
         permit any person acting on their behalf to, (i) solicit any offer to
         buy or offer to sell the Securities by means of any form of general
         solicitation or general advertising within the meaning of Regulation D
         or in any manner involving a public offering within the meaning of
         Section 4(2) of the Securities Act or (ii) engage in any directed
         selling efforts within the meaning of Regulation S, and all such
         persons will comply with the offering restrictions requirement of
         Regulation S; and not to offer, sell, contract to sell or otherwise
         dispose of, directly or indirectly, any securities under circumstances
         where such offer, sale, contract or disposition would cause the
         exemption afforded by Section 4(2) of the Securities Act to cease to be
         applicable to the offering and sale of the Securities as contemplated
         by this Agreement and the Final Offering Memorandum;

                  (k) for a period of 90 days from the date hereof, not to offer
         for sale, sell, contract to sell or otherwise dispose of, directly or
         indirectly, or file a registration statement (except as required by the
         Registration Rights Agreement or the Exchange and Registration Rights
         Agreement dated March 30, 2005 among the Company, the Company's
         subsidiaries identified therein and the Initial Purchasers (the
         "Initial Registration Rights Agreement")) for, or announce any offer,
         sale, contract for sale of or other disposition of any debt securities
         issued or guaranteed by the Issuers or any of their respective
         subsidiaries (other than (i) the Securities or the Exchange Securities
         or (ii) the Securities or the Exchange Securities as defined in the
         Initial Registration Rights Agreement) without the prior written
         consent of the Initial Purchasers (which consent may not be
         unreasonably withheld);

                  (l) until the earlier of (i) the date that all the Notes have
         either been exchanged or registered under a shelf registration
         statement in accordance with the terms of the Registration Rights
         Agreement and (ii) two years after the Closing Date, without the prior
         written consent of the Initial Purchasers, not to, and not permit any
         of their affiliates (as defined in Rule 144 under the Securities Act)
         to, resell any of the Notes that have been reacquired by them, except
         for Notes purchased by the Issuers or any of their affiliates and
         resold in a transaction registered under the Securities Act;

                  (m) in connection with the offering of the Securities, until
         the Initial Purchasers shall have notified the Issuers of the
         completion of the resale of the Securities, not to, and to cause their
         affiliated purchasers (as defined in Regulation M under the Exchange
         Act), not to, either alone or with one or more other persons, bid for
         or purchase, for any account in which they or any of their affiliated
         purchasers have a beneficial interest, any Securities, or attempt to
         induce any person to purchase any Securities; and not to, and to cause
         their affiliated purchasers not to, make bids or purchase

<PAGE>
                                      -21-

         for the purpose of creating actual, or apparent, active trading in or
         of raising the price of the Securities;

                  (n) not to take any action prior to the Closing Date which
         would require the Final Offering Memorandum to be amended or
         supplemented pursuant to Section 4(d); and

                  (o) to apply the net proceeds from the sale of the Securities
         as set forth in the Final Offering Memorandum under the heading "Use of
         proceeds."

                  5. Conditions to Closing. The obligations of the Initial
Purchasers hereunder are subject to the accuracy, on and as of the date hereof
and the Closing Date, of the representations and warranties of the Issuers
contained herein, to the accuracy of the statements of the Issuers and their
officers made in any certificates delivered pursuant hereto, to the performance
by the Issuers of their obligations hereunder, and to each of the following
additional terms and conditions:

                  (a) The Final Offering Memorandum (and any amendments or
         supplements thereto) shall have been printed and copies distributed to
         the Initial Purchasers as promptly as practicable on or following the
         date of this Agreement or at such other date and time as to which the
         Initial Purchasers may designate; and no stop order suspending the sale
         of the Securities in any jurisdiction shall have been issued and no
         proceeding for that purpose shall have been commenced or shall be
         pending or threatened.

                  (b) The Initial Purchasers shall not have discovered and
         disclosed to the Company on or prior to the Closing Date that the Final
         Offering Memorandum or any amendment or supplement thereto contains an
         untrue statement of a fact which is material or omits to state any fact
         which, in the opinion of counsel to the Initial Purchasers, is material
         and is necessary to make the statements therein not misleading.

                  (c) All corporate proceedings and other legal matters incident
         to the authorization, form and validity of each of the Transaction
         Documents, the Preliminary Offering Memorandum and the Final Offering
         Memorandum, and all other legal matters relating to the Transaction
         Documents and the Transactions, shall be reasonably satisfactory in all
         material respects to the Initial Purchasers, and the Issuers shall have
         furnished to the Initial Purchasers all documents and information that
         they or their counsel may reasonably request to enable them to pass
         upon such matters.

                  (d) Weil, Gotshal & Manges LLP shall have furnished to the
         Initial Purchasers their written opinion, as counsel for the Issuers,
         addressed to the Initial Purchasers and dated the Closing Date,
         substantially to the effect set forth in Annex B hereto.

<PAGE>
                                      -22-

                  (e) (i) Morgan, Lewis & Bockius LLP shall have furnished to
         the Initial Purchasers their written opinion, as Pennsylvania counsel
         for the Issuers, and (ii) Moore & Van Allen PLLC shall have furnished
         to the Initial Purchasers their written opinion, as South Carolina
         counsel for the Issuers, in each case addressed to the Initial
         Purchasers and dated the Closing Date, substantially to the effect set
         forth in Annex C hereto.

                  (f) The Initial Purchasers shall have received from Cahill
         Gordon & Reindel LLP, counsel for the Initial Purchasers, such opinion
         or opinions, dated the Closing Date, with respect to such matters as
         the Initial Purchasers may reasonably require, and the Issuers shall
         have furnished to such counsel such documents, certificates and
         information as they reasonably request for the purpose of enabling them
         to pass upon such matters.

                  (g) With respect to the letters (the "Initial Letters") of
         Ernst & Young LLP, KPMG LLP (Philadelphia) and KPMG LLP (Montreal)
         delivered by each of them to the Initial Purchasers concurrently with
         the execution of this Agreement (which letters shall be in form and
         substance reasonably satisfactory to the Initial Purchasers and counsel
         for the Initial Purchasers), the Issuers shall have caused each of
         Ernst & Young LLP, KPMG LLP (Philadelphia) and KPMG LLP (Montreal) to
         furnish to the Initial Purchasers letters (the "Bring-Down Letters")
         addressed to the Initial Purchasers and dated the Closing Date (i)
         confirming that in the case of Ernst & Young LLP, they are independent
         public accountants with respect to the Company and its subsidiaries, in
         the case of KPMG LLP (Philadelphia) they are independent certified
         public accountants with respect to P-21 and its subsidiaries, and in
         the case of KPMG LLP (Montreal) they are auditors of Speedware and
         independent, in the case of each of Ernst & Young LLP and KPMG LLP
         (Philadelphia) within the meaning of Rule 101 of the Code of
         Professional Conduct of the AICPA and its interpretations and rulings
         thereunder, and in the case of KPMG LLP (Montreal) within the meaning
         of the Code of Ethics of the Ordre des comptables agrees du Quebec,
         (ii) stating, as of the date of the Bring-Down Letter (or, with respect
         to matters involving changes or developments since the respective dates
         as of which specified financial information is given in the Final
         Offering Memorandum, as of a date not more than two business days prior
         to the date of the Bring-Down Letter), that the conclusions and
         findings of such accountants with respect to the financial information
         and other matters covered by its Initial Letter are accurate and (iii)
         confirming in all material respects the conclusions and findings set
         forth in its Initial Letter.

                  (h) Each of the Issuers shall have furnished to the Initial
         Purchasers a certificate, dated the Closing Date, of a senior executive
         officer of such Issuer (acting in his or her capacity as an officer of
         such Issuer and not as an individual) stating that (A) such officer has
         reviewed the Final Offering Memorandum, (B) in his or her opinion,

<PAGE>
                                      -23-

         the Final Offering Memorandum, as of its date, did not include any
         untrue statement of a material fact and did not omit to state a
         material fact necessary in order to make the statements therein, in the
         light of the circumstances under which they were made, not misleading,
         and since the date of the Final Offering Memorandum, no event has
         occurred which should have been set forth in a supplement or amendment
         to the Final Offering Memorandum so that the Final Offering Memorandum
         (as so amended or supplemented) would not include any untrue statement
         of a material fact and would not omit to state a material fact
         necessary in order to make the statements therein, in the light of the
         circumstances under which they were made, not misleading and (C) to the
         best of his or her knowledge, as of the Closing Date, the
         representations and warranties of such Issuer in this Agreement are
         true and correct in all material respects, such Issuer has complied in
         all material respects with all agreements and satisfied in all material
         respects all conditions on its part to be performed or satisfied
         hereunder on or prior to the Closing Date in all material respects, and
         since the date hereof or subsequent to the date of the most recent
         financial statements of the Company contained in the Final Offering
         Memorandum, there has been no material adverse change in the financial
         position or results of operations of the Issuers, their respective
         subsidiaries taken as a whole, or any material change, or any
         development including a prospective material change in or affecting the
         condition (financial or otherwise), results of operations, business or
         prospects of the Issuers, their respective subsidiaries taken as a
         whole, except as set forth in the Final Offering Memorandum.

                  (i) The Initial Purchasers shall have received on and as of
         the Closing Date satisfactory evidence of the good standing of the
         Company and its subsidiaries in their respective jurisdictions of
         organization and, as applicable, their good standing in the
         jurisdictions listed on Schedule III hereto, in each case in writing or
         any standard form of telecommunication, from the appropriate
         governmental authorities of such jurisdictions.

                  (j) The Initial Purchasers shall have received a counterpart
         of the Registration Rights Agreement which shall have been executed and
         delivered by a duly authorized officer of each Issuer.

                  (k) The Notes shall have been duly executed and delivered by
         the Company and duly authenticated by the Trustee and the Guarantees
         shall have been duly executed and delivered by the Guarantors.

                  (l) The offering of Holdings PIK Notes by Holdings shall have
         been consummated.

                  (m) If any event shall have occurred that requires the Issuers
         under Section 4(d) to prepare an amendment or supplement to the Final
         Offering Memorandum, such amendment or supplement shall have been
         prepared, the Initial Purchasers shall

<PAGE>
                                      -24-

         have been given a reasonable opportunity to comment thereon, and copies
         thereof shall have been delivered to the Initial Purchasers reasonably
         in advance of the Closing Date.

                  (n) There shall not have occurred any invalidation of Rule
         144A under the Securities Act by any court or any withdrawal or
         proposed withdrawal of any rule or regulation under the Securities Act
         or the Exchange Act by the Commission or any amendment or proposed
         amendment thereof by the Commission which in the judgment of the
         Initial Purchasers would materially impair the ability of the Initial
         Purchasers to purchase, hold or effect resales of the Securities as
         contemplated hereby.

                  (o) Other than as contemplated by the Transaction Documents or
         the Final Offering Memorandum, since the dates (both before and after
         the Transactions) as of which information is given in the Final
         Offering Memorandum (exclusive of any amendment or supplement to the
         Final Offering Memorandum on or after the date of the Final Offering
         Memorandum), there shall not have been any change in the capital stock
         or long-term debt or any change, or any development involving a
         prospective change, in or affecting the condition (financial or
         otherwise), results of operations, business or prospects of the Issuers
         and their respective subsidiaries taken as a whole, the effect of
         which, in any such case described above, is, in the judgment of the
         Initial Purchasers, so material and adverse as to make it impracticable
         or inadvisable to proceed with the sale or delivery of the Securities
         on the terms and in the manner contemplated in the Final Offering
         Memorandum (exclusive of any amendment or supplement thereto).

                  (p) No action shall have been taken and no statute, rule,
         regulation or order shall have been enacted, adopted or issued by any
         governmental agency or body which would, as of the Closing Date,
         prevent the issuance or sale of the Securities; and no injunction,
         restraining order or order of any other nature by any federal or state
         court of competent jurisdiction shall have been issued as of the
         Closing Date which would prevent the issuance, sale or resale of the
         Securities.

                  (q) Subsequent to the execution and delivery of this Agreement
         (i) no downgrading shall have occurred in the ratings accorded the
         Securities or any of the Issuers' other debt securities or preferred
         stock by any "nationally recognized statistical rating organization,"
         as such term is defined by the Commission for purposes of Rule
         436(g)(2) of the rules and regulations of the Commission under the
         Securities Act and (ii) no such organization shall have publicly
         announced that it has under surveillance or review or changed its
         outlook with respect to its rating of the Securities or any of the
         Issuers' other debt securities or preferred stock (other than an
         announcement with positive implications of a possible upgrading).

                  (r) Subsequent to the execution and delivery of this Agreement
         there shall not have occurred any of the following: (i) trading in
         securities generally on the New York Stock Exchange, the American Stock
         Exchange or the over-the-counter market

<PAGE>
                                      -25-

         shall have been suspended or limited, or minimum prices shall have been
         established on any such exchange or market by the Commission, by any
         such exchange or by any other regulatory body or governmental authority
         having jurisdiction, or trading in any securities of the Company on any
         exchange or in the over-the-counter market shall have been suspended or
         (ii) any moratorium on commercial banking activities shall have been
         declared by federal or New York state authorities or (iii) an outbreak
         or escalation of hostilities or a declaration by the United States of a
         national emergency or war or any calamity or crisis or (iv) a material
         adverse change in general economic, political or financial conditions
         (or the effect of international conditions on the financial markets in
         the United States shall be such) the effect of which, in the case of
         this clause (iv), is, in the judgment of the Initial Purchasers, so
         material and adverse as to make it impracticable or inadvisable to
         proceed with the offering, sale or the delivery of the Securities on
         the terms and in the manner contemplated by this Agreement and in the
         Final Offering Memorandum (exclusive of any amendment or supplement
         thereto).

                  All opinions, letters, evidence and certificates mentioned
above or elsewhere in this Agreement shall be deemed to be in compliance with
the provisions hereof only if they are in form and substance reasonably
satisfactory to counsel for the Initial Purchasers.

                  6. Termination. The obligations of the Initial Purchasers
hereunder may be terminated by the Initial Purchasers, in their absolute
discretion, by notice given to and received by the Issuers prior to delivery of
and payment for the Securities if, prior to that time, any of the events
described in Sections 5(m), (n), (o), (p), (q), or (r) shall have occurred and
be continuing.

                  7. Reimbursement of Initial Purchasers' Expenses. If (a) this
Agreement shall have been terminated pursuant to Section 6, (b) the Issuers
shall fail to tender the Securities for delivery to the Initial Purchasers or
(c) the Initial Purchasers shall decline to purchase the Securities for any
reason permitted under this Agreement, the Issuers shall, jointly and severally,
reimburse the Initial Purchasers for such out-of-pocket expenses (including
reasonable fees and disbursements of counsel) as shall have been reasonably
incurred by the Initial Purchasers in connection with this Agreement and the
proposed purchase or resale of the Securities.

                  8. Indemnification.

                  (a) The Issuers shall, jointly and severally, indemnify and
         hold harmless the Initial Purchasers, their affiliates, their
         respective officers, directors, employees, representatives, partners
         and agents, and each person, if any, who controls either of the Initial
         Purchasers or any affiliate within the meaning of the Securities Act or
         the Exchange Act (collectively referred to for purposes of this Section
         8(a) and Section 9 as the Initial Purchasers), from and against any
         loss, claim, damage or liability, joint or several, or any action in
         respect thereof (including, without limitation, any loss, claim,

<PAGE>
                                      -26-

         damage, liability or action relating to purchases and sales of the
         Securities), to which the Initial Purchasers may become subject,
         whether commenced or threatened, under the Securities Act, the Exchange
         Act, any other federal or state statutory law or regulation, at common
         law or otherwise, insofar as such loss, claim, damage, liability or
         action arises out of, or is based upon, (i) any untrue statement or
         alleged untrue statement of a material fact contained in the
         Preliminary Offering Memorandum or the Final Offering Memorandum or in
         any amendment or supplement thereto or in any information provided by
         the Issuers pursuant to Section 4(d) or (ii) the omission or alleged
         omission to state therein a material fact necessary in order to make
         the statements therein, in the light of the circumstances under which
         they were made, not misleading, and shall reimburse the Initial
         Purchasers promptly upon demand for any legal or other expenses
         reasonably incurred by the Initial Purchasers in connection with
         investigating or defending or preparing to defend against or appearing
         as a third party witness in connection with any such loss, claim,
         damage, liability or action as such expenses are incurred; provided,
         however, that the Issuers shall not be liable in any such case to the
         extent that any such loss, claim, damage, liability or action arises
         out of, or is based upon, an untrue statement or alleged untrue
         statement in or omission or alleged omission from any of such documents
         in reliance upon and in conformity with any Initial Purchasers'
         Information; and provided, further, however, that with respect to any
         such untrue statement in or omission from the Preliminary Offering
         Memorandum or the Final Offering Memorandum, the indemnity agreement
         contained in this Section 8(a) shall not inure to the benefit of the
         Initial Purchasers to the extent that such sale to the person asserting
         any such loss, claim, damage, liability or action was an initial resale
         by the Initial Purchasers and any such loss, claim, damage, liability
         or action of or with respect to the Initial Purchasers results from the
         fact that both (A) a copy of the Final Offering Memorandum or any
         correcting amendments or supplements thereto, as applicable, but
         excluding the documents incorporated by reference therein, was not sent
         or given to such person at or prior to the written confirmation of the
         sale of such Securities to such person and (B) the untrue statement in
         or omission from the Preliminary Offering Memorandum or the Final
         Offering Memorandum, was corrected in the Final Offering Memorandum or
         an amendment or supplement to the Final Offering Memorandum and the
         Final Offering Memorandum (as amended or supplemented) does not contain
         any other untrue statement or omission or alleged untrue statement or
         omission of a material fact unless, in either case, such failure to
         deliver the Final Offering Memorandum (as amended or supplemented) was
         a result of non-compliance by the Issuers with Section 4(b).

                  (b) Each Initial Purchaser, severally and not jointly, shall
         indemnify and hold harmless the Issuers, their affiliates, their
         respective officers, directors, employees, representatives, partners
         and agents, and each person, if any, who controls the Issuers or any
         such affiliate within the meaning of the Securities Act or the Exchange
         Act (collectively referred to for purposes of this Section 8(b) and
         Section 9 as the Issuers),

<PAGE>
                                      -27-

         from and against any loss, claim, damage or liability, joint or
         several, or any action in respect thereof, to which the Issuers may
         become subject, whether commenced or threatened, under the Securities
         Act, the Exchange Act, any other federal or state statutory law or
         regulation, at common law or otherwise, insofar as such loss, claim,
         damage, liability or action arises out of, or is based upon, (i) any
         untrue statement or alleged untrue statement of a material fact
         contained in the Preliminary Offering Memorandum or the Final Offering
         Memorandum or in any amendment or supplement thereto or (ii) the
         omission or alleged omission to state therein a material fact necessary
         in order to make the statements therein, in the light of the
         circumstances under which they were made, not misleading, but in each
         of clause (i) and (ii) of this Section 8(b) only to the extent that the
         untrue statement or alleged untrue statement or omission or alleged
         omission was made in reliance upon and in conformity with any Initial
         Purchaser's Information provided by such Initial Purchaser, and shall
         reimburse the Issuers for any legal or other expenses reasonably
         incurred by the Issuers in connection with investigating or defending
         or preparing to defend against or appearing as a third party witness in
         connection with any such loss, claim, damage, liability or action as
         such expenses are incurred.

                  (c) Promptly after receipt by an indemnified party under this
         Section 8 of notice of any claim or the commencement of any action, the
         indemnified party shall, if a claim in respect thereof is to be made
         against the indemnifying party pursuant to Section 8(a) or 8(b), notify
         the indemnifying party in writing of such claim or the commencement of
         such action; provided, however, that the failure to notify the
         indemnifying party shall not relieve it from any liability which it may
         have under this Section 8 except to the extent that the indemnifying
         party was otherwise unaware of such claim or the commencement of such
         action and it has been materially prejudiced (through the forfeiture of
         substantive rights or defenses) by such failure; and, provided further,
         however, that the failure to notify the indemnifying party shall not
         relieve it from any liability which it may have to an indemnified party
         otherwise than under this Section 8. If any such claim or action shall
         be brought against an indemnified party, and it shall notify the
         indemnifying party thereof, the indemnifying party shall be entitled to
         participate therein and, to the extent that it wishes, jointly with any
         other similarly notified indemnifying party, to assume the defense
         thereof with counsel reasonably satisfactory to the indemnified party.
         After notice from the indemnifying party to the indemnified party of
         its election to assume the defense of such claim or action, the
         indemnifying party shall not be liable to the indemnified party under
         this Section 8 for any legal or other expenses subsequently incurred by
         the indemnified party in connection with the defense thereof other than
         reasonable costs of investigation; provided, however, that an
         indemnified party shall have the right to employ its own counsel in any
         such action, but the fees, expenses and other charges of such counsel
         for the indemnified party will be at the expense of such indemnified
         party unless (1) the employment of counsel by the indemnified party has
         been authorized in writing by the

<PAGE>
                                      -28-

         indemnifying party, (2) the indemnified party has reasonably concluded
         (based upon advice of counsel to the indemnified party) that there may
         be legal defenses available to it or other indemnified parties that are
         different from or in addition to those available to the indemnifying
         party, (3) a conflict or potential conflict exists (based upon advice
         of counsel to the indemnified party) between the indemnified party and
         the indemnifying party (in which case the indemnifying party will not
         have the right to direct the defense of such action on behalf of the
         indemnified party) or (4) the indemnifying party has not in fact
         employed counsel reasonably satisfactory to the indemnified party to
         assume the defense of such action within a reasonable time after
         receiving notice of the commencement of the action, in each of which
         cases the reasonable fees, disbursements and other charges of counsel
         will be at the expense of the indemnifying party or parties. It is
         understood that the indemnifying party or parties shall not, in
         connection with any proceeding or related proceedings in the same
         jurisdiction, be liable for the reasonable fees, disbursements and
         other charges of more than one separate firm of attorneys (in addition
         to any local counsel) at any one time for all such indemnified party or
         parties. Each indemnified party, as a condition of the indemnity
         agreements contained in Sections 8(a) and 8(b), shall use all
         reasonable efforts to cooperate with the indemnifying party in the
         defense of any such action or claim. No indemnifying party shall be
         liable for any settlement of any such action effected without its
         written consent (which consent shall not be unreasonably withheld), but
         if settled with its written consent or if there be a final judgment for
         the plaintiff in any such action, the indemnifying party agrees to
         indemnify and hold harmless any indemnified party from and against any
         loss or liability by reason of such settlement or judgment. No
         indemnifying party shall, without the prior written consent of the
         indemnified party (which consent shall not be unreasonably withheld),
         effect any settlement of any pending or threatened proceeding in
         respect of which any indemnified party is or could have been a party
         and indemnity could have been sought hereunder by such indemnified
         party unless such settlement includes an unconditional release of such
         indemnified party in form and substance satisfactory to such
         indemnified party from all liability on claims that are the subject
         matter of such proceeding.

                  The obligations of the Issuers and the Initial Purchasers in
this Section 8 and in Section 9 are in addition to any other liability that the
Issuers or the Initial Purchasers, as the case may be, may otherwise have,
including in respect of any breaches of representations, warranties and
agreements made herein by any such party.

                  9. Contribution. If the indemnification provided for in
Section 8 is unavailable or insufficient to hold harmless an indemnified party
under Section 8(a) or 8(b), then each indemnifying party shall, in lieu of
indemnifying such indemnified party, contribute to the amount paid or payable by
such indemnified party as a result of such loss, claim, damage or liability, or
action in respect thereof, (i) in such proportion as shall be appropriate to
reflect the relative benefits received by the Issuers on the one hand and the
Initial Purchasers on the

<PAGE>
                                      -29-

other from the offering of the Securities or (ii) if the allocation provided by
clause (i) above is not permitted by applicable law, in such proportion as is
appropriate to reflect not only the relative benefits referred to in clause (i)
above but also the relative fault of the Issuers on the one hand and the Initial
Purchasers on the other with respect to the statements or omissions that
resulted in such loss, claim, damage or liability, or action in respect thereof,
as well as any other relevant equitable considerations. The relative benefits
received by the Issuers on the one hand and the Initial Purchasers on the other
with respect to such offering shall be deemed to be in the same proportion as
the total net proceeds from the offering of the Securities purchased under this
Agreement (before deducting expenses) received by or on behalf of the Issuers,
on the one hand, and the total discounts and commissions received by the Initial
Purchasers with respect to the Securities purchased under this Agreement, on the
other, bear to the total gross proceeds from the sale of the Securities under
this Agreement. The relative fault shall be determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact
or the omission or alleged omission to state a material fact relates to the
Issuers or information supplied by the Issuers on the one hand or to any Initial
Purchasers' Information on the other, the intent of the parties and their
relative knowledge, access to information and opportunity to correct or prevent
such untrue statement or omission. The Issuers and the Initial Purchasers agree
that it would not be just and equitable if contributions pursuant to this
Section 9 were to be determined by pro rata allocation or by any other method of
allocation that does not take into account the equitable considerations referred
to herein. The amount paid or payable by an indemnified party as a result of the
loss, claim, damage or liability, or action in respect thereof, referred to
above in this Section 9 shall be deemed to include, for purposes of this Section
9, any legal or other expenses reasonably incurred by such indemnified party in
connection with investigating, preparing to defend or defending any such action
or claim. Notwithstanding the provisions of this Section 9, no Initial Purchaser
shall be required to contribute any amount in excess of the amount by which the
total discounts and commissions received by such Initial Purchaser with respect
to the Securities purchased by it under this Agreement exceeds the amount of any
damages which such Initial Purchaser has otherwise paid or become liable to pay
by reason of any untrue or alleged untrue statement or omission or alleged
omission. No person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Securities Act) shall be entitled to contribution from
any person who was not guilty of such fraudulent misrepresentation.

                  10. Defaulting Initial Purchaser.

                  (a) If, on the Closing Date, any Initial Purchaser defaults on
         its obligation to purchase the Securities that it has agreed to
         purchase hereunder, the non-defaulting Initial Purchaser may in its
         discretion arrange for the purchase of such Securities by other persons
         satisfactory to the Issuers on the terms contained in this Agreement.
         If, within 36 hours after any such default by any Initial Purchaser,
         the non-defaulting Initial Purchaser does not arrange for the purchase
         of such Securities, then the Issuers shall be entitled to a further
         period of 36 hours within which to procure other persons

<PAGE>
                                      -30-

         reasonable satisfactory to the non-defaulting Initial Purchaser to
         purchase such Securities on such terms. If other persons become
         obligated or agree to purchase the Securities of a defaulting Initial
         Purchaser, either the non-defaulting Initial Purchaser or the Issuers
         may postpone the Closing Date for up to five full business days in
         order to effect any changes that in the opinion of counsel for the
         Issuers or counsel for the Initial Purchasers may be necessary in the
         Final Offering Memorandum or in any other document or arrangement, and
         the Issuers agree to promptly prepare any amendment or supplement to
         the Final Offering Memorandum that effects any such changes. As used in
         this Agreement, the term "Initial Purchaser" includes, for all purposes
         of this Agreement unless the context otherwise requires, any person not
         listed in Schedule 1 hereto that, pursuant to this Section 10,
         purchases Securities that a defaulting Initial Purchaser agreed but
         failed to purchase.

                  (b) If, after giving effect to any arrangements for the
         purchase of the Securities of a defaulting Initial Purchaser by the
         non-defaulting Initial Purchaser and the Issuers as provided in
         paragraph (a) above, the aggregate principal amount of such Securities
         that remains unpurchased does not exceed one-eleventh of the aggregate
         principal amount of all the Securities, then the Issuers shall have the
         right to require the non-defaulting Initial Purchaser to purchase the
         principal amount of Securities that such Initial Purchaser agreed to
         purchase hereunder plus such Initial Purchaser's pro rata share (based
         on the principal amount of Securities that such Initial Purchaser
         agreed to purchase hereunder) of the Securities of such defaulting
         Initial Purchaser for which such arrangements have not been made.

                  (c) If, after giving effect to any arrangements for the
         purchase of the Securities of a defaulting Initial Purchaser by the
         non-defaulting Initial Purchaser and the Issuers as provided in
         paragraph (a) above, the aggregate principal amount of such Securities
         that remains unpurchased exceeds one-eleventh of the aggregate
         principal amount of all the Securities, or if the Issuers shall not
         exercise the right described in paragraph (b) above, then this
         Agreement shall terminate without liability on the part of the
         non-defaulting Initial Purchaser. Any termination of this Agreement
         pursuant to this Section 10 shall be without liability on the part of
         the Issuers, except that the Issuers will continue to be liable for the
         payment of expenses as set forth in Section 12 hereof and except that
         the provisions of Section 7 hereof shall not terminate and shall remain
         in effect.

                  (d) Nothing contained herein shall relieve a defaulting
         Initial Purchaser of any liability it may have to the Issuers or the
         non-defaulting Initial Purchaser for damages caused by its default.

                  11. Persons Entitled to Benefit of Agreement. This Agreement
shall inure to the benefit of and be binding upon the Initial Purchasers and the
Issuers and their respective

<PAGE>
                                      -31-

successors. This Agreement and the terms and provisions hereof are for the sole
benefit of only those persons, except as provided in Sections 8 and 9 with
respect to affiliates, officers, directors, employees, representatives,
partners, agents and controlling persons of the Issuers and the Initial
Purchasers and affiliates of the Initial Purchasers and in Section 4(e) with
respect to holders and prospective purchasers of the Securities. Nothing in this
Agreement is intended or shall be construed to give any person, other than the
persons referred to in this Section 11, any legal or equitable right, remedy or
claim under or in respect of this Agreement or any provision contained herein.

                  12. Expenses. Whether or not the transactions contemplated by
this Agreement are consummated or this Agreement is terminated, the Issuers
agree with the Initial Purchasers to pay (a) the costs incident to the
authorization, issuance, sale, preparation and delivery of the Securities and
any taxes payable in that connection; (b) the costs incident to the preparation,
printing and distribution of the Preliminary Offering Memorandum and the Final
Offering Memorandum and any amendments or supplements thereto; (c) the costs of
reproducing and distributing each of the Transaction Documents; (d) the costs
incident to the preparation, printing and delivery of the certificates
evidencing the Securities, including stamp duties and transfer taxes, if any,
payable upon issuance of the Securities; (e) the fees and expenses of the
Issuers' counsel and independent accountants; (f) the fees and expenses of
qualifying the Securities under the securities laws of the several jurisdictions
as provided in Section 4(g) and of preparing, printing and distributing Blue Sky
Memoranda (including related fees and expenses of one counsel for the Initial
Purchasers in an amount not to exceed $10,000); (g) any fees charged by rating
agencies for rating the Securities; (h) the fees and expenses of the Trustee and
any paying agent (including related fees and expenses of any counsel to such
parties); (i) all expenses and application fees incurred in connection with the
application for the inclusion of the Securities on the PORTAL Market and the
approval of the Securities for book-entry transfer by DTC; and (j) all other
costs and expenses incident to the performance of the obligations of the Issuers
under this Agreement which are not otherwise specifically provided for in this
Section 12; provided, however, that except as provided in this Section 12 and
Section 7, the Initial Purchasers shall pay their own costs and expenses
(including the costs and expenses of their counsel).

                  13. Survival. The respective indemnities, rights of
contribution, representations, warranties and agreements of the Issuers and the
Initial Purchasers contained in this Agreement or any certificates delivered
pursuant hereto made by or on behalf of the Issuers or the Initial Purchasers
pursuant to this Agreement shall survive the delivery of and payment for the
Securities and shall remain in full force and effect, regardless of any
termination or cancellation of this Agreement or any investigation made by or on
behalf of any of them.

<PAGE>
                                      -32-

                  14. Notices, etc. All statements, requests, notices and
agreements hereunder shall be in writing, and:

                  (a) if to the Initial Purchasers, shall be delivered or sent
         by mail or telecopy transmission to the Initial Purchasers c/o Deutsche
         Bank Securities Inc., 60 Wall Street, New York, New York 10005,
         Attention: Corporate Finance Department; or

                  (b) if to the Issuers, shall be delivered or sent by mail or
         telecopy transmission to the address of the Issuers at Activant
         Solutions Inc., 804 Las Cimas Parkway, Austin, Texas 78746, Attention:
         Greg Petersen (telecopier no: (512) 330-9273), with a copy to Hicks,
         Muse, Tate & Furst Incorporated, 200 Crescent Court, Suite 1600,
         Dallas, Texas 75201, Attention: Peter Brodsky (telecopier no: (214)
         740-7888);

Any such statements, requests, notices or agreements shall take effect at the
time of receipt thereof. The Issuers shall be entitled to act and rely upon any
request, consent, notice or agreement given or made by the Initial Purchasers.

                  15. Definition of Terms. For purposes of this Agreement, (a)
the term "business day" means any day on which the New York Stock Exchange, Inc.
is open for trading, (b) the term "subsidiary" has the meaning set forth in Rule
405 under the Securities Act and (c) except where otherwise expressly provided,
the term "affiliate" has the meaning set forth in Rule 405 under the Securities
Act.

                  16. Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York without regard to
the conflicts of law provisions thereof to the extent the application of the
laws of another jurisdiction would be required thereby.

                  17. Counterparts. This Agreement may be executed in one or
more counterparts (which may include counterparts delivered by telecopier) and,
if executed in more than one counterpart, the executed counterparts shall each
be deemed to be an original, but all such counterparts shall together constitute
one and the same instrument.

                  18. Amendments. No amendment or waiver of any provision of
this Agreement, nor any consent or approval to any departure therefrom, shall in
any event be effective unless the same shall be in writing and signed by the
parties hereto.

                  19. No Advisory or Fiduciary Responsibility. The Company
acknowledges and agrees that (i) the purchase and sale of the Securities
pursuant to this Agreement is an arm's-length commercial transaction between the
Company, on the one hand, and the Initial Purchasers, on the other, (ii) in
connection therewith and with the process leading to such transaction each
Initial Purchaser is acting solely as a principal and not the agent or fiduciary
of the Company, (iii) no Initial Purchaser has assumed an advisory or fiduciary
responsibility

<PAGE>
                                      -33-

in favor of the Company with respect to the offering contemplated hereby or the
process leading thereto (irrespective of whether such Initial Purchaser has
advised or is currently advising the Company on other matters) or any other
obligation to the Company except the obligations expressly set forth in this
Agreement and (iv) the Company has consulted its own legal and financial
advisors to the extent it deemed appropriate. The Company agrees that it will
not claim that any Initial Purchaser has rendered advisory services of any
nature or respect, or owes a fiduciary or similar duty to the Company, in
connection with such transaction or the process leading thereto.

                  20. Headings. The headings herein are inserted for convenience
of reference only and are not intended to be part of, or to affect the meaning
or interpretation of, this Agreement.

                  [Remainder of page intentionally left blank]

<PAGE>
                                      S-1

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

                                         Very truly yours,

                                         ACTIVANT SOLUTIONS INC.

                                         By: /s/ GREG PETERSEN
                                            ------------------------------------
                                            Name:  Greg Petersen
                                            Title: Senior Vice President and
                                                   Chief Financial Officer

                                         CCI/ARD, INC.

                                         By: /s/ GREG PETERSEN
                                            ------------------------------------
                                            Name:  Greg Petersen
                                            Title: Senior Vice President

                                         CCI/TRIAD GEM, INC.
                                         TRIAD SYSTEMS CORPORATION
                                         TRIAD SYSTEMS FINANCIAL
                                            CORPORATION
                                         TRIAD DATA CORPORATION
                                         SPEEDWARE HOLDINGS, INC.
                                         SPEEDWARE USA INC.
                                         ENTERPRISE COMPUTER SYSTEMS, INC.
                                         PRELUDE SYSTEMS, INC.
                                         PROPHET 21, INC.
                                         PROPHET 21 INVESTMENT CORPORATION
                                         PROPHET 21 CANADA INC.
                                         PROPHET 21 (NEW JERSEY), INC.
                                         DISTRIBUTOR INFORMATION SYSTEMS
                                            CORPORATION
                                         TRADE SERVICE SYSTEMS, INC.
                                         STANPAK SYSTEMS, INC.
                                         SDI MERGER CORPORATION

                                         By: /s/ GREG PETERSEN
                                            ------------------------------------
                                            Name:  Greg Petersen
                                            Title: President

<PAGE>
                                      S-2

Accepted by:

DEUTSCHE BANK SECURITIES INC.

     for itself and on behalf of the several
     Initial Purchasers listed on Schedule I hereto

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

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

<PAGE>

                                                                      SCHEDULE I

<Table>
<Caption>
                                            Aggregate Principal Interest
 Initial Purchaser                          of Securities to be Purchased
 -----------------                          -----------------------------
<S>                                         <C>
 Deutsche Bank Securities Inc.                        $  72,500,000
 J.P. Morgan Securities Inc.                          $  72,500,000
                                            -----------------------------

 Total                                                $ 145,000,000
</Table>

<PAGE>

                                                                     SCHEDULE II

Guarantors
--------------------------------------------------------------------------------

  CCI/ARD, INC.
  PROPHET 21, INC.
  CCI/TRIAD GEM, INC.
  TRIAD SYSTEMS CORPORATION
  TRIAD SYSTEMS FINANCIAL CORPORATION
  TRIAD DATA CORPORATION
  SPEEDWARE HOLDINGS, INC.
  SPEEDWARE USA INC.
  ENTERPRISE COMPUTER SYSTEMS, INC.
  PRELUDE SYSTEMS, INC.
  PROPHET 21 INVESTMENT CORPORATION
  PROPHET 21 CANADA INC.
  PROPHET 21 (NEW JERSEY), INC.
  DISTRIBUTOR INFORMATION SYSTEMS
      CORPORATION
  TRADE SERVICE SYSTEMS, INC.
  STANPAK SYSTEMS, INC.
  SDI MERGER CORPORATION

<PAGE>

                                                                    SCHEDULE III

Applicable Jurisdiction for Good Standing Certificates
--------------------------------------------------------------------------------

Illinois
North Carolina
California
Texas
Florida
New York
Minnesota
Pennsylvania
Ohio
South Carolina

<PAGE>

                                                                         ANNEX A

                     [Form of Registration Rights Agreement]

                                 [See attached]

<PAGE>

                                                                         ANNEX B

                 [Form of Opinion of Weil, Gotshal & Manges LLP]

                                 [See attached]

<PAGE>

                                                                         ANNEX C

                       [Form of Opinion of Local Counsel]

                                  [See attached

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