Document:

PLEDGE AGREEMENT

     THIS PLEDGE  AGREEMENT  (this  "Pledge  Agreement")  is entered  into as of
                                     -----------------
August 3, 2000, among POLICY MANAGEMENT  SYSTEMS  CORPORATION,  a South Carolina
corporation  (the  "Borrower"  or the  "Pledgor")  and  BANK OF  AMERICA,  N.A.,
                    --------            -------
formerly known as Bank of America National Trust and Savings Association, in its
capacity as administrative agent (in such capacity, the "Administrative  Agent")
                                                         ---------------------
for the  respective  Lenders  from time to time  party to the  Revolving  Credit
Agreement  and the  Term  Loan  Agreement  described  below  (collectively,  the
"Lenders").
---------

                                    RECITALS

     WHEREAS,  pursuant to that certain Credit Agreement,  dated as of August 8,
1997 as amended by a First Amendment to Credit Agreement dated as of November 5,
1999, as amended by a Second  Amendment to Credit Agreement dated as of February
10, 2000, as amended by a Third Amendment to Credit  Agreement dated as of March
30, 2000, as amended by a Fourth Amendment to Credit Agreement dated as of April
24,  2000 and as further  amended by a Consent,  Waiver and Fifth  Amendment  to
Credit  Agreement  dated as of July 14,  2000 (as may be  subsequently  amended,
modified, extended, renewed or replaced from time to time, the "Revolving Credit
                                                                ----------------
Agreement"),  among the Borrower,  the Subsidiary Guarantors identified therein,
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the  Lenders   party   thereto  (the   "Revolving   Credit   Lenders")  and  the
                                        ---------------------------
Administrative  Agent,  the Revolving  Credit  Lenders have extended a revolving
credit  facility  (the  "Revolving  Loans")  upon the terms and  subject  to the
                         ----------------
conditions set forth therein; and

     WHEREAS,  pursuant to that certain Term Loan Agreement dated as of November
5, 1999,  as amended by a First  Amendment  to Term Loan  Agreement  dated as of
February 10, 2000, as amended by a Second Amendment to Term Loan Agreement dated
as of March 30, 2000,  as amended by a Third  Amendment  to Term Loan  Agreement
dated as of April 24,  2000 and as  further  amended  by a  Consent,  Waiver and
Amendment dated as of June 19, 2000 (as may be subsequently  amended,  modified,
extended,  renewed or replaced  from time to time,  the "Term Loan  Agreement"),
                                                         --------------------
among the Borrower,  the Subsidiary  Guarantors  identified therein, the Lenders
party thereto (the "Term Loan Lenders") and the  Administrative  Agent, the Term
                    ----------------
Loan  Lenders  have  extended a term loan (the "Term  Loan")  upon the terms and
                                                ----------
subject to the conditions set forth therein; and

     WHEREAS,  pursuant  to a Pledge  Agreement  dated as of April 28, 2000 (the
"Existing Pledge Agreement"),  the Borrower pledged to the Administrative  Agent
for the benefit of the Lenders, 65% of the stock of Mynd International, Ltd.

     WHEREAS,  pursuant  to the  terms of a Consent  Letter  dated as of May 11,
2000, the Required  Lenders (as defined herein)  consented to the limited pledge
of 65% of the stock of Mynd  International  Ltd. on the condition that if a sale
of the Borrower did not occur by July 15,  2000,  the Borrower  would pledge the
remaining 35% of Mynd  International,  Ltd. to the Administrative  Agent for the
benefit of the Lenders.

                                        1
<PAGE>
     WHEREAS,  it is a requirement of each of the Revolving Credit Agreement and
the Term Loan  Agreement and the  continuing  obligations of the Lenders to make
their  respective  Loans under the Revolving  Credit Agreement and the Term Loan
Agreement,  as  applicable,  that the Borrower shall have executed and delivered
this Pledge Agreement to the Administrative Agent for the ratable benefit of the
Lenders.

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

     1.   Definitions.
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          (a) Unless  otherwise  defined herein,  capitalized  terms used herein
     shall have the  meanings  ascribed  to such terms in the  Revolving  Credit
     Agreement or the Term Loan Agreement, as applicable.

          (b)  In  addition,  the  following  terms  shall  have  the  following
     meanings:

               "Bankruptcy  Code":  means the Bankruptcy Code in Title 11 of the
                ----------------
          United States Code, as amended,  modified,  succeeded or replaced from
          time to time.

               "Collateral  Effective  Date" means the date on which there shall
                ---------------------------
          occur an Event of Default pursuant to which the  Administrative  Agent
          or the  Required  Lenders  have  decided  to  exercise  any  rights or
          remedies  hereunder or under the Existing Pledge  Agreement in respect
          of the Pledged Collateral.

               "Credit Documents": means a collective reference to the Revolving
                ----------------
          Credit Agreement, the Term Loan Agreement, the Security Agreement, the
          Existing Pledge Agreement,  this Pledge  Agreement,  the Mortgages and
          all  other  related  agreements  and  documents  issued  or  delivered
          hereunder or thereunder or pursuant hereto or thereto.

               "Event  of  Default":  has the  meaning  set  forth in  Section 8
                ----------------
          hereof.

               "Governmental  Authority":  means any nation or  government,  any
                -----------------------
          state or other political subdivision thereof and any entity exercising
          executive,   legislative,   judicial,   regulatory  or  administrative
          functions of or pertaining to government.

               "Required  Lenders"  means the Banks as  defined in the Term Loan
                -----------------
          Agreement or the  Required  Banks as defined in the  Revolving  Credit
          Agreement.

               "Revolving Loan Obligations": means the Borrower's obligations to
                --------------------------
          the  Revolving  Credit  Lenders  arising  under the  Revolving  Credit
          Agreement,  including without limitation all principal, interest, fees
          and other charges in respect of the Revolving Loans.

                                        2
<PAGE>
               "Secured Obligations": the collective reference to the following:
                -------------------

               (i) The Revolving Loan Obligations, including without limitation,
          all unpaid principal of and interest on (including  interest  accruing
          after maturity and after the  commencement of bankruptcy or insolvency
          proceedings) the Revolving Loans and other obligations owing under the
          Revolving Credit Agreement,  and all other  indebtedness,  liabilities
          and obligations  owing  thereunder,  whether now existing or hereafter
          arising, and whether primary, secondary,  direct, contingent, or joint
          and  several;   including  without  limitation,  all  liabilities  and
          obligations  incurred in connection  with collecting and enforcing the
          foregoing.

               (ii) The Term Loan Obligations,  including without limitation all
          unpaid principal of and interest on (including interest accruing after
          maturity  and after  the  commencement  of  bankruptcy  or  insolvency
          proceedings) the Term Loans and other obligations owing under the Term
          Loan Agreement, whether now existing or hereafter arising, and whether
          primary,   secondary,   direct,  contingent,  or  joint  and  several;
          including without limitation, all liabilities and obligations incurred
          in connection with collecting and enforcing the foregoing.

               (iii) all  indebtedness,  liabilities and obligations of any kind
          or nature, now existing or hereafter arising, owing by the Obligors to
          the Lenders, arising under the Credit Documents.

               "Term Loan Obligations":  means the Borrower's obligations to the
                ---------------------
          Term Loan Lenders  arising  under the Term Loan  Agreement,  including
          without limitation all principal,  interest, fees and other charges in
          respect of the Term Loan.

     2.     Pledge  and  Grant  of Security Interest.  Subject to Section 27, to
            ----------------------------------------
secure  the prompt payment and performance in full when due, whether by lapse of
time  or otherwise, of the Pledgor Obligations (as defined in Section 3 hereof),
the  Pledgor  hereby  pledges  and  assigns to the Administrative Agent, for the
benefit  of the Lenders, and grants to the Administrative Agent, for the benefit
of  the  Lenders, a continuing security interest in any and all right, title and
interest  of  the Pledgor in and to the following, whether now owned or existing
or  owned,  acquired,  or  arising  hereafter  (collectively,  the  "Pledged
                                                ----------------------------
Collateral"):
----------

          (a) Pledged Shares.  (i) 35% of the issued and  outstanding  shares of
              --------------
     capital  stock owned by the  Pledgor of Mynd  International,  Ltd.,  as set
     forth on Schedule 2(a) attached hereto together with the  certificates  (or
     other agreements or instruments), if any, representing such shares, and all
     options and other rights,  contractual or otherwise,  with respect  thereto
     (collectively,  together  with the shares of  capital  stock  described  in
     Section 2(b) below, the "Pledged Shares"),  including,  but not limited to,
                              --------------
     the following:

               (y) all shares or  securities  representing  a dividend on any of
          the  Pledged  Shares,  or  representing  a  distribution  or return of
          capital upon or in respect of the Pledged Shares,  or resulting from a
          stock split,  revision,  reclassification  or other exchange therefor,
          and any  subscriptions,  warrants,  rights  or  options  issued to the
          holder of, or otherwise in respect of, the Pledged Shares; and

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<PAGE>
               (z) without  affecting the  obligations  of the Pledgor under any
          provision  prohibiting such action hereunder or under the other Credit
          Documents,  in the event of any  consolidation or merger involving the
          issuer  of any  Pledged  Shares  and in which  such  issuer is not the
          surviving  corporation,  all shares of each class of the capital stock
          of  the  successor  corporation  formed  by  or  resulting  from  such
          consolidation or merger.

          (b) Proceeds. All proceeds and products of the foregoing,  however and
              --------
     whenever acquired and in whatever form.

     Without limiting the generality of the foregoing, it is hereby specifically
understood  and  agreed that the Pledgor may from time to time hereafter deliver
additional  shares  of  stock to the Administrative Agent as collateral security
for  the  Pledgor  Obligations.  Upon delivery to the Administrative Agent, such
additional  shares of stock shall be deemed to be part of the Pledged Collateral
of  the  Pledgor  and  shall  be  subject  to the terms of this Pledge Agreement
whether  or  not  Schedule  2(a)  is amended to refer to such additional shares.

          3. Security for Pledgor  Obligations.  The security  interest  created
             ---------------------------------
hereby  in  the  Pledged  Collateral  of  the  Pledgor  constitutes   continuing
collateral  security  for  all of  the  Secured  Obligations,  now  existing  or
hereafter arising pursuant to the Credit  Documents,  owing from the Borrower or
any  Guarantor to any Lender,  any  Affiliate of a Lender or the  Administrative
Agent,  howsoever  evidenced,  created,  incurred or acquired,  whether primary,
secondary,   direct,  contingent,  or  joint  and  several,  including,  without
limitation,   all  obligations  and  liabilities  incurred  in  connection  with
collecting   and   enforcing   the   foregoing   (collectively,   the   "Pledgor
Obligations").

     4.   Delivery of the Pledged Collateral. The Pledgor hereby agrees that:
          ---------------------------------

          (a)  The  Pledgor  shall  deliver  to  the  Administrative  Agent  (i)
     simultaneously  with or prior to the  execution and delivery of this Pledge
     Agreement, all certificates  representing the Pledged Shares of the Pledgor
     and (ii) promptly upon the receipt  thereof by or on behalf of the Pledgor,
     all other certificates and instruments  constituting  Pledged Collateral of
     the  Pledgor.  Prior to  delivery  to the  Administrative  Agent,  all such
     certificates and instruments constituting Pledged Collateral of the Pledgor
     shall be held in trust by the Pledgor for the benefit of the Administrative
     Agent pursuant hereto. All such certificates shall be delivered in suitable
     form for  transfer  by delivery or shall be  accompanied  by duly  executed
     instruments of transfer or assignment in blank,  substantially  in the form
     provided in Exhibit 4(a) attached hereto.

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<PAGE>
          (b) Additional  Securities.  If the Pledgor shall receive by virtue of
              ----------------------
     its being or having been the owner of any Pledged Collateral, any (i) stock
     certificate,  including without limitation,  any certificate representing a
     stock dividend or distribution in connection with any increase or reduction
     of  capital,  reclassification,  merger,  consolidation,  sale  of  assets,
     combination  of shares,  stock splits,  spin-off or  split-off,  promissory
     notes or other instrument; (ii) option or right, whether as an addition to,
     substitution for, or an exchange for, any Pledged  Collateral or otherwise;
     (iii) dividends payable in securities;  or (iv) distributions of securities
     in connection with a partial or total liquidation, dissolution or reduction
     of capital,  capital  surplus or paid-in  surplus,  then the Pledgor  shall
     receive such stock certificate,  instrument,  option, right or distribution
     in trust for the benefit of the  Administrative  Agent,  shall segregate it
     from the  Pledgor's  other  property and shall  deliver it forthwith to the
     Administrative Agent in the exact form received together with any necessary
     endorsement   and/or  appropriate  stock  power  duly  executed  in  blank,
     substantially  in the form  provided  in  Exhibit  4(a),  to be held by the
     Administrative  Agent  as  Pledged  Collateral  and as  further  collateral
     security for the Pledgor Obligations.

          (c) Financing Statements. The Pledgor shall execute and deliver to the
              ----------------------
     Administrative  Agent such UCC or other applicable  financing statements as
     may be reasonably requested by the Administrative Agent in order to perfect
     and protect the security interest created hereby in the Pledged  Collateral
     of the Pledgor.

     5.     Representations  and  Warranties.  The Pledgor hereby represents and
            --------------------------------
warrants  to  the  Administrative Agent, for the benefit of the Lenders, that so
long as any of the Pledgor Obligations remain outstanding or any Credit Document
is  in  effect or any Loan under the Revolving Credit Agreement or the Term Loan
Agreement  shall  remain outstanding, and until all of the Commitments under the
Revolving  Credit  Agreement  and  the  Term  Loan  Agreement  shall  have  been
terminated:

          (a)  Authorization  of Pledged  Shares.  The  Pledged  Shares are duly
              ----------------------------------
     authorized and validly issued, are fully paid and nonassessable and are not
     subject to the preemptive  rights of any Person.  All other shares of stock
     constituting Pledged Collateral will be duly authorized and validly issued,
     fully paid and  nonassessable  and not subject to the preemptive  rights of
     any Person.

          (b) Title. The Pledgor has good and indefeasible  title to the Pledged
              -----
     Collateral of the Pledgor and will at all times be the legal and beneficial
     owner of such  Pledged  Collateral  free and clear of any Lien,  other than
     Liens  permitted  under the  Revolving  Credit  Agreement and the Term Loan
     Agreement.  There exists no "adverse  claim"  within the meaning of Section
     8-302 of the Uniform  Commercial Code as in effect in the State of New York
     as of the date hereof (the "UCC") with respect to the Pledged Shares of the
     Pledgor.

          (c) Exercising of Rights. To the best of the Pledgor's knowledge,  the
              --------------------
     exercise by the  Administrative  Agent of its rights and remedies hereunder
     will  not  violate  (i)  any law or  governmental  regulation  or (ii)  any
     material contractual restriction binding on or affecting the Pledgor or any
     of its property.

                                        5
<PAGE>
          (d) Pledgor's Authority.  To the best of the Pledgor's  knowledge,  no
              ------------------
     authorization,  approval  or action  by,  and no notice or filing  with any
     Governmental  Authority  or with  the  issuer  of any  Pledged  Shares  are
     required  either (i) for the pledge made by the Pledgor or for the granting
     of the security  interest by the Pledgor  pursuant to this Pledge Agreement
     or (ii) for the  exercise  by the  Administrative  Agent or the  Lenders of
     their  rights and  remedies  hereunder  (except as may be  required by laws
     affecting the offering and sale of securities).

          (e) Security Interest/Priority.  This Pledge Agreement creates a valid
              --------------------------
     security interest in favor of the  Administrative  Agent for the benefit of
     the  Lenders,  in the  Pledged  Collateral.  The taking  possession  by the
     Administrative  Agent of the  certificates  representing the Pledged Shares
     and all other certificates and instruments  constituting Pledged Collateral
     will perfect and establish the first priority of the Administrative Agent's
     security  interest in the Pledged  Shares and, when  properly  perfected by
     filing or registration, in all other Pledged Collateral represented by such
     Pledged Shares and instruments securing the Pledgor Obligations.  Except as
     set forth in this  Section  5(e),  no action is  necessary  to  perfect  or
     otherwise protect such security interest.

     6.     Covenants.  The Pledgor hereby covenants, that so long as any of the
Pledgor  Obligations  remain  outstanding or any Credit Document is in effect or
any  Loan  shall  remain outstanding, and until all of the Commitments under the
Revolving  Credit  Agreement  and  the  Term  Loan  Agreement  shall  have  been
terminated,  the  Pledgor  shall:

          (a) Books and Records. Mark its books and records (and shall cause the
              -----------------
     issuer of the Pledged  Shares of the Pledgor to mark its books and records)
     to reflect the security interest granted to the  Administrative  Agent, for
     the benefit of the Lenders, pursuant to this Pledge Agreement.

          (b) Defense of Title. Warrant and defend title to and ownership of the
              ----------------
     Pledged Collateral of the Pledgor at its own expense against the claims and
     demands of all other parties claiming an interest therein, keep the Pledged
     Collateral free from all Liens, except for Liens permitted under the Credit
     Documents,  and not sell,  exchange,  transfer,  assign, lease or otherwise
     dispose of Pledged  Collateral  of the  Pledgor  or any  interest  therein,
     except as permitted under the Credit Documents.

          (c) Further  Assurances.  Promptly  execute and deliver at its expense
              -------------------
     all further  instruments and documents and take all further action that may
     be necessary and desirable or that the Administrative  Agent may reasonably
     request in order to (i) perfect and protect the security  interest  created
     hereby  in  the  Pledged  Collateral  of  the  Pledgor  (including  without
     limitation any and all action necessary to satisfy the Administrative Agent
     that the  Administrative  Agent has  obtained  a first  priority  perfected
     security  interest in any capital  stock);  (ii) enable the  Administrative
     Agent to exercise and enforce its rights and remedies  hereunder in respect
     of the Pledged  Collateral of the Pledgor;  and (iii) otherwise  effect the
     purposes of this Pledge  Agreement,  including,  without  limitation and if
     requested by the  Administrative  Agent,  delivering to the  Administrative
     Agent  irrevocable  proxies  in respect of the  Pledged  Collateral  of the
     Pledgor.

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<PAGE>
          (d)  Amendments.  Not  make  or  consent  to any  amendment  or  other
               ----------
     modification or waiver with respect to any of the Pledged Collateral of the
     Pledgor or enter into any agreement or allow to exist any restriction  with
     respect to any of the Pledged Collateral of the Pledgor other than pursuant
     hereto or as may be permitted under the Credit Documents.

          (e)  Compliance  with  Securities  Laws.  File all  reports  and other
               ----------------------------------
     information  now or hereafter  required to be filed by the Pledgor with the
     United  States  Securities  and  Exchange  Commission  and any other state,
     federal or foreign  agency in connection  with the ownership of the Pledged
     Collateral of the Pledgor.

     7.   Advances by  Lenders.  On failure of the Pledgor to perform any of the
          --------------------
covenants and agreements  contained herein, the Administrative Agent may, at its
sole  option and in its sole  discretion,  perform  the same and in so doing may
expend such sums as the  Administrative  Agent may reasonably  deem advisable in
the  performance  thereof,  including,  without  limitation,  the payment of any
insurance premiums, the payment of any taxes, a payment to obtain a release of a
Lien or potential Lien, expenditures made in defending against any adverse claim
and all other  expenditures  which the  Administrative  Agent or the Lenders may
make for the protection of the security hereof or which may be compelled to make
by operation of law. All such sums and amounts so expended shall be repayable by
the Pledgor  promptly  upon timely  notice  thereof and demand  therefor,  shall
constitute  additional Pledgor Obligations and shall bear interest from the date
said amounts are expended at the default rate specified in Section 2.8(a) of the
Revolving  Credit  Agreement  for overdue  Base Rate  Committed  Loans.  No such
performance  of any  covenant or agreement  by the  Administrative  Agent or the
Lenders on behalf of the Pledgor,  and no such advance or expenditure  therefor,
shall  relieve  the  Pledgor  of any  default  under  the  terms of this  Pledge
Agreement or the other Credit Documents. The Lenders may make any payment hereby
authorized in accordance with any bill,  statement or estimate procured from the
appropriate  public  office  or holder  of the  claim to be  discharged  without
inquiry  into the  accuracy  of such bill,  statement  or  estimate  or into the
validity  of any tax  assessment,  sale,  forfeiture,  tax lien,  title or claim
except to the  extent  such  payment  is being  contested  in good  faith by the
Pledgor in appropriate proceedings and against which adequate reserves are being
maintained in accordance with GAAP.

     8.   Events  of  Default.  The  occurrence  of an  event  which  under  the
          -------------------
Revolving  Credit Agreement or the Term Loan Agreement would constitute an Event
of Default (which has not otherwise been cured or waived in accordance  with the
provisions  thereof)  shall be an Event  of  Default  hereunder  (an  "Event  of
Default").                                                             ---------
-------

     9.   Remedies.

          (a) General  Remedies.  Upon the occurrence of an Event of Default and
              -----------------
     during the continuation  thereof,  the Administrative Agent and the Lenders
     shall  have,  in respect  of the  Pledged  Collateral  of the  Pledgor,  in
     addition  to the  rights  and  remedies  provided  herein and in the Credit
     Documents or by law,  the rights and remedies of a secured  party under the
     UCC or any other applicable law.

                                        7
<PAGE>
          (b) Sale of Pledged  Collateral.  Upon the  occurrence  of an Event of
              ---------------------------
     Default  and  during  the  continuation   thereof,   without  limiting  the
     generality of this Section and without  notice,  the  Administrative  Agent
     may, in its sole discretion,  sell or otherwise  dispose of or realize upon
     the Pledged  Collateral,  or any part thereof,  in one or more parcels,  at
     public or private sale, at any exchange or broker's board or elsewhere,  at
     such price or prices and on such other  terms as the  Administrative  Agent
     may deem commercially  reasonable,  for cash, credit or for future delivery
     or otherwise in accordance with applicable law. To the extent  permitted by
     law, any Lender may in such event, bid for the purchase of such securities.
     The Pledgor  agrees that, to the extent notice of sale shall be required by
     law and has not been waived by the Pledgor,  any  requirement of reasonable
     notice shall be met if notice,  specifying  the place of any public sale or
     the time after which any private sale is to be made, is  personally  served
     on or mailed,  postage  prepaid,  to the Pledgor,  in  accordance  with the
     notice  provisions  of Section 10.1 of the  Revolving  Credit  Agreement at
     least 10 days before the time of such sale. The Administrative  Agent shall
     not be  obligated  to make any sale of Pledged  Collateral  of the  Pledgor
     regardless of notice of sale having been given.  The  Administrative  Agent
     may adjourn any public or private sale from time to time by announcement at
     the time and place  fixed  therefor,  and such sale  may,  without  further
     notice, be made at the time and place to which it was so adjourned.

          (c)  Private  Sale.  Upon the  occurrence  of an Event of Default  and
               -------------
     during  the  continuation   thereof,   the  Pledgor   recognizes  that  the
     Administrative  Agent may deem it  impracticable to effect a public sale of
     all or any part of the Pledged Shares or any of the securities constituting
     Pledged  Collateral  and  that the  Administrative  Agent  may,  therefore,
     determine to make one or more  private  sales of any such  securities  to a
     restricted group of purchasers who will be obligated to agree,  among other
     things,  to acquire such  securities for their own account,  for investment
     and not with a view to the  distribution  or resale  thereof.  The  Pledgor
     acknowledges  that any such private sale may be at prices and on terms less
     favorable  to the seller  than the prices and other  terms which might have
     been obtained at a public sale and,  notwithstanding the foregoing,  agrees
     that such private sale shall be deemed to have been made in a  commercially
     reasonable  manner  and  that  the  Administrative   Agent  shall  have  no
     obligation  to delay  sale of any such  securities  for the  period of time
     necessary  to  permit  the  issuer  of such  securities  to  register  such
     securities  for public sale under the  Securities  Act of 1933. The Pledgor
     further  acknowledges  and  agrees  that any offer to sell such  securities
     which has been (i) publicly  advertised on a bona fide basis in a newspaper
     or other publication of general  circulation in the financial  community of
     New York, New York (to the extent that such offer may be advertised without
     prior  registration  under  the  Securities  Act of  1933),  or  (ii)  made
     privately  in the  manner  described  above  shall be deemed  to  involve a
     "public  sale"  under  the  UCC,  notwithstanding  that  such  sale may not
     constitute a "public  offering"  under the  Securities Act of 1933, and the
     Administrative  Agent may,  in such  event,  bid for the  purchase  of such
     securities.

                                        8
<PAGE>
          (d)  Retention  of Pledged  Collateral.  In addition to the rights and
               ---------------------------------
     remedies  hereunder,  upon  the  occurrence  of an Event  of  Default,  the
     Administrative  Agent may, after providing the notices  required by Section
     9-505(2)  of the  UCC or  otherwise  complying  with  the  requirements  of
     applicable law of the relevant  jurisdiction,  retain all or any portion of
     the Pledged Collateral in satisfaction of the Pledgor  Obligations.  Unless
     and until the  Administrative  Agent  shall  have  provided  such  notices,
     however,  the Administrative Agent shall not be deemed to have retained any
     Pledged  Collateral  in  satisfaction  of any Pledgor  Obligations  for any
     reason.

          (e) Deficiency. In the event that the proceeds of any sale, collection
              ----------
     or  realization   are   insufficient  to  pay  all  amounts  to  which  the
     Administrative Agent or the Lenders are legally entitled, the Pledgor shall
     be liable for the deficiency, together with interest thereon at the default
     rate  specified in Section  2.8(a) of the  Revolving  Credit  Agreement for
     overdue Base Rate  Committed  Loans,  together with the costs of collection
     and the  reasonable  fees of any attorneys  employed by the  Administrative
     Agent to collect  such  deficiency.  Any surplus  remaining  after the full
     payment and  satisfaction of the Pledgor  Obligations  shall be returned to
     the  Pledgor  or to  whomsoever  a court of  competent  jurisdiction  shall
     determine to be entitled thereto.

     10.     Rights  of  the  Administrative  Agent.
             --------------------------------------

          (a)  Power of  Attorney.  In  addition  to other  powers  of  attorney
               -----------------
     contained   herein,   the  Pledgor  hereby   designates  and  appoints  the
     Administrative  Agent, on behalf of the Lenders,  and each of its designees
     or agents as attorney-in-fact of the Pledgor, irrevocably and with power of
     substitution,  with  authority to take any or all of the following  actions
     upon the occurrence and during the continuance of an Event of Default:

               (i) to  demand,  collect,  settle,  compromise,  adjust  and give
          discharges  and  releases  concerning  the Pledged  Collateral  of the
          Pledgor, all as the Administrative Agent may reasonably determine;

               (ii) to commence and  prosecute  any actions at any court for the
          purposes of  collecting  any of the Pledged  Collateral of the Pledgor
          and enforcing any other right in respect thereof;

               (iii)  to  defend,   settle  or  compromise  any  action  brought
          regarding the Pledged  Collateral and, in connection  therewith,  give
          such  discharge  or  release  as the  Administrative  Agent  may  deem
          reasonably appropriate;

               (iv) to pay or discharge taxes,  liens,  security  interests,  or
          other  encumbrances  levied  or placed on or  threatened  against  the
          Pledged Collateral of the Pledgor;

               (v) to direct any parties liable for any payment under any of the
          Pledged  Collateral  to make  payment of any and all monies due and to
          become due thereunder  directly to the Administrative  Agent or as the
          Administrative Agent shall direct;

                                        9
<PAGE>
               (vi) to receive  payment of and  receipt  for any and all monies,
          claims, and other amounts due and to become due at any time in respect
          of or arising out of any Pledged Collateral of the Pledgor;

               (vii) to sign and endorse any drafts, assignments, proxies, stock
          powers,  verifications,  notices and other  documents  relating to the
          Pledged Collateral of the Pledgor;

               (viii)  to  settle,  compromise  or adjust  any  suit,  action or
          proceeding described above and, in connection therewith,  to give such
          discharges or releases as the Administrative Agent may deem reasonably
          appropriate;

               (ix)   execute   and  deliver   all   assignments,   conveyances,
          statements, financing statements, renewal financing statements, pledge
          agreements,  affidavits, notices and other agreements, instruments and
          documents  that the  Administrative  Agent may determine  necessary in
          order to perfect and maintain the security interests and liens granted
          in this Pledge  Agreement and in order to fully  consummate all of the
          transactions contemplated therein;

               (x) to exchange any of the Pledged  Collateral  of the Pledgor or
          other  property  upon  any  merger,   consolidation,   reorganization,
          recapitalization  or other  readjustment of the issuer thereof and, in
          connection  therewith,  deposit any of the Pledged  Collateral  of the
          Pledgor with any committee,  depository,  transfer agent, registrar or
          other designated  agency upon such terms as the  Administrative  Agent
          may determine;

               (xi)  to  vote  for  a  shareholder  resolution,  or to  sign  an
          instrument in writing,  sanctioning  the transfer of any or all of the
          Pledged  Shares of such  Pledgor  into the name of the  Administrative
          Agent or one or more of the Lenders or into the name of any transferee
          to whom the Pledged  Shares of the Pledgor or any part  thereof may be
          sold pursuant to Section 10 hereof; and

               (xii) to do and  perform  all such  other  acts and things as the
          Administrative  Agent may reasonably  deem to be necessary,  proper or
          convenient in connection with the Pledged Collateral of the Pledgor.

     This power of attorney  is a power  coupled  with an interest  and shall be
     irrevocable  (i)  for so  long  as any of the  Pledgor  Obligations  remain
     outstanding  or any Credit  Document is in effect or any Loan shall  remain
     outstanding  and (ii)  until all of the  Commitments  under  the  Revolving
     Credit  Agreement and the Term Loan Agreement  shall have been  terminated.
     The Administrative Agent shall be under no duty to exercise or withhold the
     exercise of any of the rights, powers,  privileges and options expressly or
     implicitly  granted to the  Administrative  Agent in this Pledge Agreement,
     and shall not be liable for any  failure to do so or any delay in doing so.
     The Administrative Agent shall not be liable for any act or omission or for
     any  error of  judgment  or any  mistake  of fact or law in its  individual
     capacity or its  capacity  as  attorney-in-fact  except  acts or  omissions
     resulting from its gross  negligence or willful  misconduct.  This power of
     attorney  is  conferred  on the  Administrative  Agent  solely to  protect,
     preserve and realize upon its security interest in Pledged Collateral.

                                       10
<PAGE>
          (b) Performance by the Administrative Agent of Pledgor's  Obligations.
              -----------------------------------------------------------------
     If the  Pledgor  fails to perform any  agreement  or  obligation  contained
     herein, the Administrative  Agent itself may perform,  or cause performance
     of, such  agreement or obligation,  and the expenses of the  Administrative
     Agent  incurred in  connection  therewith  shall be payable by the Pledgors
     pursuant to Section 13 hereof.

          (c) Assignment by the Administrative  Agent. The Administrative  Agent
              ---------------------------------------
     may from  time to time  assign  the  Pledgor  Obligations  and any  portion
     thereof  and/or the Pledged  Collateral  and any portion  thereof,  and the
     assignee  shall  be  entitled  to all of the  rights  and  remedies  of the
     Administrative  Agent  under this  Pledge  Agreement  in  relation  thereto
     provided,  however that any such assignment shall not violate the Revolving
     Credit Agreement or the Term Loan Agreement.

          (d) The  Administrative  Agent's Duty of Care. Other than the exercise
              -----------------------------------------
     of  reasonable  care to assure the safe  custody of the Pledged  Collateral
     while being held by the Administrative Agent hereunder,  the Administrative
     Agent  shall  have no duty  or  liability  to  preserve  rights  pertaining
     thereto,  it being  understood and agreed that Pledgor shall be responsible
     for  preservation  of all rights in the Pledged  Collateral of the Pledgor,
     and the  Administrative  Agent shall be relieved of all  responsibility for
     Pledged Collateral upon surrendering it or tendering the surrender of it to
     the Pledgor.  The  Administrative  Agent shall be deemed to have  exercised
     reasonable care in the custody and  preservation of the Pledged  Collateral
     in  its  possession  if  such  Pledged  Collateral  is  accorded  treatment
     substantially equal to that which the Administrative  Agent accords its own
     property,  which  shall  be  no  less  than  the  treatment  employed  by a
     reasonable and prudent agent in the industry,  it being understood that the
     Administrative  Agent shall not have responsibility for (i) ascertaining or
     taking action with respect to calls,  conversions,  exchanges,  maturities,
     tenders or other matters relating to any Pledged Collateral, whether or not
     the  Administrative  Agent  has or is  deemed  to  have  knowledge  of such
     matters;  or (ii) taking any necessary steps to preserve rights against any
     parties with respect to any Pledged Collateral.

          (e) Voting Rights in Respect of the Pledged Collateral.
              --------------------------------------------------

               (i) So long as no Event of  Default  shall have  occurred  and be
          continuing,  to the extent permitted by law, each Pledgor may exercise
          any and all  voting  and other  consensual  rights  pertaining  to the
          Pledged  Collateral of the Pledgor or any part thereof for any purpose
          not inconsistent  with the terms of this Pledge Agreement or the other
          Credit Documents; and

               (ii) Upon the occurrence  and during the  continuance of an Event
          of Default, all rights of the Pledgor to exercise the voting and other
          consensual  rights  which it would  otherwise  be entitled to exercise
          pursuant to  paragraph  (i) of this  Section  shall cease and all such
          rights shall thereupon become vested in the Administrative Agent which
          shall  then have the sole  right to  exercise  such  voting  and other
          consensual rights.

                                       11
<PAGE>
          (f) Dividend Rights in Respect of the Pledged Collateral.

               (i) So long as no Event of  Default  shall have  occurred  and be
          continuing and subject to Section 4(b) hereof, the Pledgor may receive
          and retain any and all dividends (other than stock dividends and other
          dividends   constituting   Pledged   Collateral  which  are  addressed
          hereinabove) or interest paid in respect of the Pledged  Collateral to
          the extent they are allowed under the Revolving  Credit  Agreement and
          the Term Loan Agreement.

               (ii) Upon the occurrence  and during the  continuance of an Event
          of Default pursuant to which the Administrative  Agent or the Required
          Lenders  have  decided  to  exercise  any rights or  remedies  granted
          thereto in the Revolving Credit Agreement or the Term Loan Agreement:

                    (A) all rights of the Pledgor to receive the  dividends  and
               interest  payments  which it would  otherwise  be  authorized  to
               receive and retain  pursuant  to  paragraph  (i) of this  Section
               shall cease and all such rights shall  thereupon be vested in the
               Administrative  Agent  which  shall  then have the sole  right to
               receive  and  hold  as  Pledged  Collateral  such  dividends  and
               interest payments; and

                    (B) all dividends and interest  payments  which are received
               by a Pledgor  contrary to the provisions of paragraph (A) of this
               Section  shall  be  received  in  trust  for the  benefit  of the
               Administrative  Agent, shall be segregated from other property or
               funds of such  Pledgor,  and shall be forthwith  paid over to the
               Administrative  Agent as  Pledged  Collateral  in the exact  form
               received,  to be  held by the  Administrative  Agent  as  Pledged
               Collateral  and as further  collateral  security  for the Pledgor
               Obligations.

          (g)  Release  of  Pledged  Collateral.  The  Administrative  Agent may
               --------------------------------
     release any of the Pledged  Collateral  from this Pledge  Agreement  or may
     substitute  any of the  Pledged  Collateral  for other  Pledged  Collateral
     without  altering,  varying or  diminishing  in any way the force,  effect,
     lien,  pledge or  security  interest  of this  Pledge  Agreement  as to any
     Pledged Collateral not expressly  released or substituted,  and this Pledge
     Agreement shall continue as a first priority lien on all Pledged Collateral
     not expressly released or substituted.

     11.     Rights of Required Lenders.  All rights of the Administrative Agent
             --------------------------
hereunder, if not exercised by the Administrative Agent, may be exercised by the
Required  Lenders  under  the  Revolving  Credit  Agreement  and  the  Term Loan
Agreement.

                                       12
<PAGE>
     12.     Application  of  Proceeds.  Upon  the  occurrence  and  during  the
             -------------------------
continuance of an Event of Default, all amounts collected or received in respect
of  the  Pledged Collateral, when received by the Administrative Agent or any of
the  Lenders  in  cash  or  its  equivalent,  shall be paid over or delivered as
follows:

          (a) FIRST, to the payment of all reasonable,  documented out-of-pocket
     costs and expenses  (including  without limitation  reasonable,  documented
     attorneys'  fees) of the  Administrative  Agent or any Lender in connection
     with  enforcing  the rights of the Lenders  under the Credit  Documents  in
     respect of the Pledged  Collateral and any protective  advances made by the
     Administrative  Agent or any Lender with respect to the Pledged  Collateral
     under or pursuant to the terms of the Collateral Documents, pro rata as set
     forth below;

          (b) SECOND, to the payment of all accrued fees and interest payable to
     the  Administrative  Agent and the Lenders under the Credit Documents,  pro
     rata as set forth below;

          (c) THIRD, to the payment of the outstanding  principal  amount of the
     Secured Obligations, pro rata, as set forth below; and

          (d) FOURTH,  to all other  obligations which shall have become due and
     payable  under the  Credit  Documents  and not repaid  pursuant  to clauses
     "FIRST" through "THIRD" above, pro rata, as set forth below; and

          (e) FIFTH,  to the payment of the surplus,  if any, to whomever may be
     lawfully entitled to receive such surplus.

In  carrying  out  the  foregoing,  (i) amounts received shall be applied in the
numerical  order  provided  until  exhausted  prior  to  application to the next
succeeding  category; (ii) each of the Lenders shall receive an amount under the
applicable  category  equal  to  its  pro  rata share of amounts available to be
applied  above  (based  on  the proportion that the then outstanding obligations
owed  by  the Borrower to such Lender under the Credit Documents with respect to
the  applicable  category  bears to the aggregate outstanding obligations of the
Borrower  to  the  Lenders  under  the  Credit  Documents  with  respect  to the
applicable  category);  and  (iii)  the  Pledgor irrevocably waives the right to
direct the application of such payments and proceeds and acknowledges and agrees
that  the  Administrative Agent shall have the continuing and exclusive right to
apply  and  reapply any and all such payments and proceeds in the Administrative
Agent's  sole  discretion, notwithstanding any entry to the contrary upon any of
its  books  and  records.

     13.  Costs  of  Counsel.  At  all times hereafter, the Pledgor agrees to
          ------------------
promptly  pay  upon  demand  any  and  all  reasonable costs and expenses of the
Administrative  Agent or the Lenders, (a) as required under the Credit Documents
and (b) as necessary to protect the Pledged Collateral or to exercise any rights
or  remedies  under  this  Pledge  Agreement  or  with  respect  to  any Pledged
Collateral.  All  of  the  foregoing costs and expenses shall constitute Pledgor
Obligations  hereunder.

                                       13
<PAGE>
     14.  Continuing Agreement.
          --------------------
          (a) This Pledge  Agreement  shall be a  continuing  agreement in every
     respect  and shall  remain in full  force and  effect so long as any of the
     Pledgor  Obligations remain outstanding or any Credit Document is in effect
     or any Loan under the Revolving Credit Agreement or the Term Loan Agreement
     shall  remain  outstanding,  and  until  all of the  Commitments  under the
     Revolving  Credit  Agreement and the Term Loan Agreement  thereunder  shall
     have terminated (other than any obligations with respect to the indemnities
     and the  representations and warranties set forth in the Credit Documents).
     Upon  such  payment  and  termination,   this  Pledge  Agreement  shall  be
     automatically  terminated  and the  Administrative  Agent  and the  Lenders
     shall,  upon the  request  and at the  expense  of the  Pledgor,  forthwith
     release  all of its  liens  and  security  interests  hereunder  and  shall
     executed and deliver all UCC termination  statements and/or other documents
     reasonably   requested  by  the  Pledgors   evidencing  such   termination.
     Notwithstanding  the  foregoing  all  releases  and  indemnities   provided
     hereunder shall survive termination of this Pledge Agreement.

          (b)  This  Pledge  Agreement  shall  continue  to be  effective  or be
     automatically  reinstated,  as the case may be, if at any time payment,  in
     whole or in part,  of any of the Pledgor  Obligations  is rescinded or must
     otherwise be restored or returned by the Administrative Agent or any Lender
     as a preference,  fraudulent  conveyance or otherwise under any bankruptcy,
     insolvency  or similar  law,  all as though such payment had not been made;
     provided  that in the  event  payment  of all or any  part  of the  Pledgor
     Obligations  is rescinded or must be restored or returned,  all  reasonable
     costs and expenses  (including without limitation any reasonable legal fees
     and disbursements)  incurred by the  Administrative  Agent or any Lender in
     defending and enforcing such  reinstatement  shall be deemed to be included
     as a part of the Pledgor Obligations.

     15.  Amendments;  Waivers;  Modifications.  This Pledge  Agreement  and the
          ------------------------------------
provisions hereof may not be amended, waived, modified,  changed,  discharged or
terminated  except as set forth in each of Section 10.5 of the Revolving  Credit
Agreement and Section 10.5 of the Term Loan Agreement.
              ------------

     16. Successors in Interest. This Pledge Agreement shall create a continuing
         ----------------------
security  interest in the Collateral and shall be binding upon the Pledgor,  its
successors and assigns and shall inure, together with the rights and remedies of
the  Administrative  Agent and the  Lenders  hereunder,  to the  benefit  of the
Administrative Agent and the Lenders and their successors and permitted assigns;
provided,  however,  that the Pledgor may not assign its rights or delegate  its
---------  -------
duties  hereunder  without  the  prior  written  consent  of each  Lender or the
Required Lenders,  as required by each of the Revolving Credit Agreement and the
Term Loan Agreement.  To the fullest extent permitted by law, the Pledgor hereby
releases  the  Administrative  Agent and each  Lender,  and its  successors  and
assigns,  from any  liability  for any act or  omission  relating to this Pledge
Agreement or the  Collateral,  except for any  liability  arising from the gross
negligence or willful misconduct of the Administrative Agent, or such Lender, or
its officers, employees or agents.

                                       14
<PAGE>
     17.  Notices.  All  notices  required or  permitted  to be given under this
          -------
Pledge  Agreement  shall be in  conformance  with Section 10.1 of the  Revolving
Credit Agreement.

     18.  Counterparts.  This Pledge  Agreement may be executed in any number of
          ------------
counterparts,  each of  which  where  so  executed  and  delivered  shall  be an
original,  but all of which shall  constitute  one and the same  instrument.  It
shall not be necessary  in making  proof of this Pledge  Agreement to produce or
account for more than one such counterpart.

     19.  Headings.  The  headings of the sections  and  subsections  hereof are
          -------
provided  for  convenience  only and shall not in any way affect the  meaning or
construction of any provision of this Pledge Agreement.

     20. Governing Law; Submission to Jurisdiction; Venue.
         -------------

          (a) THIS  PLEDGE  AGREEMENT  AND THE  RIGHTS  AND  OBLIGATIONS  OF THE
     PARTIES  HEREUNDER  SHALL BE GOVERNED BY AND CONSTRUED AND  INTERPRETED  IN
     ACCORDANCE  WITH THE LAWS OF THE  STATE OF NEW YORK.  Any  legal  action or
     proceeding  with respect to this  Security  Agreement may be brought in the
     courts of the State of New York,  or of the United  States for the  Eastern
     District  of New York,  and, by  execution  and  delivery of this  Security
     Agreement, the Pledgor hereby irrevocably accepts for itself and in respect
     of its property,  generally and  unconditionally,  the jurisdiction of such
     courts. The Pledgor further irrevocably  consents to the service of process
     out of any of the aforementioned courts in any such action or proceeding by
     the mailing of copies  thereof by  registered  or certified  mail,  postage
     prepaid,  to it at the address for notices  pursuant to Section 10.1 of the
     Revolving Credit Agreement,  such service to become effective 30 days after
     such mailing.  Nothing herein shall affect the right of the  Administrative
     Agent to serve process in any other manner  permitted by law or to commence
     legal  proceedings or to otherwise proceed against the Pledgor in any other
     jurisdiction.

          (b) The Pledgor hereby  irrevocably  waives any objection which it may
     now or  hereafter  have to the  laying  of  venue  of any of the  aforesaid
     actions or  proceedings  arising out of or in  connection  with this Pledge
     Agreement  brought in the courts  referred to in subsection  (a) hereof and
     hereby further  irrevocably  waives and agrees not to plead or claim in any
     such court that any such action or proceeding brought in any such court has
     been brought in an inconvenient forum.

     21. Waiver of Jury Trial.  TO THE EXTENT  PERMITTED BY APPLICABLE LAW, EACH
         --------------------
OF THE PARTIES TO THIS PLEDGE AGREEMENT HEREBY  IRREVOCABLY  WAIVES ALL RIGHT TO
TRIAL  BY JURY IN ANY  ACTION,  PROCEEDING  OR  COUNTERCLAIM  ARISING  OUT OF OR
RELATING TO THIS PLEDGE AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

     22.  Severability.  If any  provision  of any of the  Pledge  Agreement  is
          ------------
determined to be illegal,  invalid or  unenforceable,  such  provision  shall be
fully  severable  and the  remaining  provisions  shall remain in full force and
effect and shall be construed  without giving effect to the illegal,  invalid or
unenforceable provisions.

                                       15
<PAGE>
     23. Entirety. This Pledge Agreement,  the Existing Pledge Agreement and the
         -------------------------------
other Credit Documents  represent the entire agreement of the parties hereto and
thereto, and supersede all prior agreements and understandings, oral or written,
if any,  including  any  commitment  letters or  correspondence  relating to the
Credit Documents or the transactions contemplated herein and therein.

     24. Survival.  All  representations and warranties of the Pledgor hereunder
         --------
shall survive the execution and delivery of this Pledge  Agreement and the other
Credit  Documents,  the  delivery of the Notes and the making of the Loans under
the Revolving Credit Agreement and the Term Loan Agreement.

     25. Other Security.  To the extent that any of the Pledgor  Obligations are
         --------------
now  or  hereafter  secured  by  property  other  than  the  Pledged  Collateral
(including,  without  limitation,  real and other personal property owned by the
Pledgor),  or by a guarantee,  endorsement or property of any other Person, then
the Administrative Agent and the Lenders shall have the right to proceed against
such other property,  guarantee or endorsement  upon the occurrence of any Event
of Default,  and the  Administrative  Agent and the Lenders  have the right,  in
their sole  discretion,  to determine which rights,  security,  liens,  security
interests or remedies the Administrative Agent and the Lenders shall at any time
pursue, relinquish, subordinate, modify or take with respect thereto, without in
any way modifying or affecting any of them or any of the Administrative  Agent's
and the Lenders' rights or the Pledgor  Obligations  under this Pledge Agreement
or under any other of the Credit Documents.

     26. Intentionally Omitted.
         ---------------------

     27. Effective Date.  Notwithstanding  anything in this Pledge Agreement to
         --------------
the contrary,  neither the pledges and grants of security  interests pursuant to
Section 2  hereof,  nor any of the  covenants  and  other  agreements  contained
herein,  shall become  effective until the Collateral  Effective Date;  provided
                                                                        --------
that on such  Collateral  Effective  Date,  such  pledges,  grants  of  security
interests, covenants and other agreements shall become effective immediately and
without any further action on the part of the parties hereto.

                  [remainder of page intentionally left blank]

                                       16
<PAGE>
     Each  of  the  parties  hereto  has  caused  a  counterpart  of this Pledge
Agreement  to be duly executed and delivered as of the date first above written.

BORROWER:               POLICY  MANAGEMENT  SYSTEMS  CORPORATION,
                        a  South  Carolina  corporation

                        By:/S/  Stephen G.  Morrison
                           ------------------------------------------------
                        Name:  Stephen  G.  Morrison
                           ------------------------------------------------
                        Title:  Exec.  Vice  President,  General  Counsel
                           ------------------------------------------------

Accepted  and  agreed  to  as  of  the  date  first  above  written.

BANK  OF  AMERICA,  N.A.,
as  Administrative  Agent

By:     /S/  Michael  J.  McKenney
   ----------------------------------------
Name:     Michael  J.  McKenney
   ----------------------------------------
Title:     Managing  Director
   ----------------------------------------

                                       17
<PAGE>
                                  Schedule 2(a)

                                       to

                                Pledge Agreement

                            dated as of July __, 2000

                        in favor of Bank of America, N.A.

                             as Administrative Agent

                                  PLEDGED STOCK
                                  -------------

PLEDGOR: Policy Management Systems Corporation
                          Number of     Certificate    Percentage
Name of Subsidiary        Shares        Number         Ownership
------------------        ------        ------         ---------
Mynd International, Ltd.                                  35%
                                                       ---------

                                       18
<PAGE>
                                  Exhibit 4(a)
                                  -------------

                                       to

                                Pledge Agreement

                            dated as of July __, 2000

                        in favor of Bank of America, N.A.

                             as Administrative Agent

                             Irrevocable Stock Power
                             ----------------------

FOR  VALUE  RECEIVED,  the  undersigned  hereby  sells, assigns and transfers to

the  following  shares of capital stock of _____________________, a ____________
corporation:

                        No.  of  Shares     Certificate  No.

and  irrevocably  appoints  __________________________________  its  agent  and
attorney-in-fact  to  transfer all or any part of such capital stock and to take
all necessary and appropriate action to effect any such transfer.  The agent and
attorney-in-fact  may substitute and appoint one or more persons to act for him.

                                            _______________________________

                                            By:____________________________
                                            Name:__________________________
                                            Title:_________________________

                                       19
<PAGE>SIXTH AMENDMENT TO TERM LOAN AGREEMENT

     This  Amendment,  dated as of  September  29,  2000 (this  "Amendment")  is
entered into by and among Mynd Corporation  (formerly known as Policy Management
Systems  Corporation),  a  South  Carolina  corporation  (the  "Borrower"),  the
Subsidiaries of the Borrower  parties hereto (the  "Guarantors"),  the financial
institutions parties to this Agreement (collectively, the "Banks"; individually,
a "Bank") and Bank of America,  N.A. (formerly known as Bank of America National
Trust and Savings Association), as Agent (the "Agent").

                                    RECITALS
                                    --------

     The Borrower, the Guarantors, the Agent and the Banks are parties to a Term
Loan  Agreement dated as of November 5, 1999, as amended by a First Amendment to
Term  Loan  Agreement  dated  as  of  February  10, 2000, as amended by a Second
Amendment  to  Term  Loan  Agreement dated as of March 30, 2000, as amended by a
Third Amendment to Term Loan Agreement dated as of April 24, 2000, as amended by
a Consent, Waiver and Amendment dated as of June 19, 2000 and as further amended
by  a  Fifth  Amendment  to Term Loan Agreement dated as of August 10, 2000 (the
"Credit  Agreement")  pursuant  to  which  the  Banks  extended  a  term  loan.
Capitalized  terms  used  and not otherwise defined or amended in this Amendment
shall  have  the meanings respectively assigned to them in the Credit Agreement.

     The  Borrower has requested that the Banks modify certain provisions of the
Credit  Agreement  and  the  Banks  have agreed to do so, all upon the terms and
provisions  and  subject  to  the  conditions  hereinafter  set  forth.

                                    AGREEMENT
                                    ---------

     In  consideration  of  the foregoing and the mutual covenants and agreement
hereinafter  set  forth,  the  parties  hereto  mutually  agree  as  follows:

A.     AMENDMENTS
       ----------

     1.  Amendment  to Section  5.12.  Section  5.12 of the Credit  Agreement is
         ----------------------------
     hereby amended and restated in its entirety to read as follows:

          Minimum  Consolidated  Tangible Net Worth.  At any date,  Consolidated
          ---------------------------------------
          Tangible  Net  Worth  will  not be less  than (i)  $126,718,000  until
          October 30, 2000 and  $196,718,000  on October 31, 2000 and thereafter
          plus on an annual  basis  (ii) ----  beginning  with the  fiscal  year
          beginning  January  1,  1999,  50%  of  Consolidated  Net  Income,  if
          positive. There shall be excluded from the calculation of Consolidated
          Tangible Net Worth (i) all acquisition  related charges of intangibles
          and any amounts that have been  expended to  repurchase  shares of the
          Borrower's  common stock, in each case,  since August 8, 1997 and (ii)
          fees and  expenses  paid in  connection  with the  termination  of the
          merger agreement with Welsh,  Carson,  Anderson & Stowe and accrued by
          the  Borrower on its income  statement in  accordance  with GAAP in an
          amount  not to exceed  $24,000,000.

      2.  Amendment  to  Section  5.20. Section 5.20 of the Credit  Agreement is
          ----------------------------
          hereby amended and restated in its entirety to read as follows:

                                        1
<PAGE>
          Property   Acquisition  Costs  and  Capitalized  Software  Costs.  The
          ------------------------------------------------------------
          Borrower  will not permit the sum of  Property  Acquisition  Costs and
          Capitalized  Software  Costs  for  (a)  fiscal  year  2000  to  exceed
          $75,000,000 and (b) fiscal year 2001 to exceed $50,000,000.

     3.   Amendment to Section  5.21.  Section  5.21 of the Credit  Agreement is
          --------------------------
     hereby amended and restated in its entirety to read as follows:

          Consolidated  Adjusted Cash Flow. The Borrower will cause Consolidated
          -------------------------------
          Adjusted Cash Flow minus Capital  Expenditures  to equal or exceed the
                             -----
          following  amounts  for the  quarterly  period  ending  on each of the
          following dates: (i) March 31, 2000, ($2,000,000), (ii) June 30, 2000,
          $10,000,000,  and (iii)  September  30, 2000,  $10,000,000,  provided,
                                                                       --------
          however  that for the  purposes  of either (ii) or (iii)  above,  such
          calculation  shall exclude fees and expenses  paid in connection  with
          the termination of the merger agreement with Welsh, Carson, Anderson &
          Stowe  and  accrued  by  the  Borrower  on  its  income  statement  in
          accordance with GAAP in an aggregate amount not to exceed  $24,000,000
          and for the  purposes  of (iii)  above,  such  calculation  shall also
          exclude one-time nonrecurring fees and expenses incurred in connection
          with  severance  payments  and  headcount  reduction  incurred  in the
          quarter ending September 30, 2000 in an aggregate amount not to exceed
          $10,000,000.

     4.   Addition of New Section  5.22.  A new Section  5.22 is hereby added as
          -----------------------------
          follows:

          Section 5.22 External Syndicate Advisor.
                    ----------------------------

               Upon  request by the Agent,  the  Borrower  shall and shall cause
          each of its Subsidiaries to provide such information and assistance to
          an external  advisor  (the  "Syndicate  Advisor"),  such advisor to be
          selected by the Agent and the fees and expenses of which shall be paid
          by the  Borrower.  The  scope of the  investigation  of the  Syndicate
          Advisor shall be determined by the Agent and shall include, but not be
          limited to, a  determination  of  sustainable  free cash flow,  a full
          review of accounts  receivable and debt capacity of the Borrower.  The
          Syndicate  Advisor  shall  agree to be  bound  by the  confidentiality
          provisions set forth in Section 10.11 hereof.

     5.   Addition of New Section  5.23.  A  new Section 5.23 is hereby added as
          --------------------------------
follows:

          Section 5.23 Additional Information; Bank Meeting
                    ---------------------------------------

               In the  event of the  termination  of the  Agreement  and Plan of
          Merger dated as of June 20, 2000 by and among the  Borrower,  Computer
          Sciences  Corporation and Patriot  Acquisition  Corp., the Agent shall
          have the right to request,  and the Borrower shall be obligated  under
          all  circumstances to comply with such request,  (a) a bank meeting to
          be scheduled as soon as  reasonably  possible,  the scope of such bank
          meeting  shall  include,  but not be  limited  to (i)  updates  on the
          Borrower's  internal budgets,  (ii) contingency plans of the Borrower,
          (iii) information relating to the Hart-Scott-Rodino antitrust approval
          process and (iv) other matters as may be  reasonably  requested by the
          Agent or any Bank and (b) any  additional  information,  reporting  or
          otherwise,  relating to the Borrower,  in the reasonable discretion of
          the Agent.

                                        2
<PAGE>
B.   REPRESENTATIONS  AND  WARRANTIES
     --------------------------------

     The  Borrower  and the Guarantors hereby represent and warrant to the Agent
and  Banks  that:

     1.     After giving effect to this Amendment, no Event of Default specified
in  the Credit Agreement and no event which with notice or lapse of time or both
would  become  such  an  Event  of  Default  has  occurred  and  is  continuing;

     2.     After  giving  effect  to  this  Amendment,  the representations and
warranties  of  the Borrower and the Guarantors pursuant to the Credit Agreement
are  true  on  and  as of the date hereof as if made on and as of said date; and

     3.     The  making  and  performance  by the Borrower and the Guarantors of
this  Amendment  have  been  duly  authorized by all necessary corporate action.

C.   EFFECTIVENESS;  CONDITIONS
     --------------------------

     This  Amendment  will  become  effective  as  of  September  30,  2000 upon
execution  by  the  Required  Banks  (the "Effective Date").  The Borrower shall
provide  to  the  Agent  in  form  and  substance satisfactory to the Agent, the
following:

     1.     Execution  of  Counterparts  of  Amendment.  The  Agent  shall  have
            ------------------------------------------
received  counterparts  (or  other  evidence  of execution, including telephonic
message,  satisfactory to the Agent) of this Amendment, which collectively shall
have been duly executed on behalf of each of the Borrower, the Guarantors (other
than  Policy  Management  Systems  Investments, Inc., whose executed counterpart
shall  not be required to be delivered to the Agent until October 11, 2000), the
Banks  and  the  Agent.

     2.     Amendment  Fee. The Borrower shall have paid an amendment fee to the
            --------------
Agent  for  the  account of the consenting Banks equal to 0.10% of the aggregate
outstanding  Loans  in  accordance with their Pro Rata Share; provided, however,
that  for  the  purposes hereof, "consenting Banks" shall include all such Banks
that  consent  to  the  Amendment  on  or  before  October  11,  2000.

     3.     Other Fees. The Borrower shall have paid to the Agent all other fees
due and payable to the Agent as agreed to by the Borrower.

     4.     Other Items.  The Agent shall have received such other documents,
agreements or information which may be reasonably requested by the Agent.

D.     MISCELLANEOUS
       -------------

     1.     This  Amendment may be signed in any number of counterparts, each of
which  shall  be  an original, with same effect as if the signatures thereto and
hereto  were  upon  the  same  instrument.

     2.     Except  as  herein  specifically  amended,  all terms, covenants and
provisions  of  the  Credit  Agreement shall remain in full force and effect and
shall  be  performed by the parties hereto according to its terms and provisions
and  all  references  therein  or  in the Exhibits shall henceforth refer to the
Credit  Agreement  as  amended  by  this  Amendment.

     3.     This Amendment shall be governed by and construed in accordance with
the  laws  of  the  State  of  New  York.

                                        3
<PAGE>
     IN WITNESS WHEREOF, the parties hereto  have  executed  and  delivered this
Amendment  as  of  the  date  first  written.

BORROWER:                  MYND  CORPORATION
                           (formerly  known  as  Policy  Management  Systems
                           Corporation)

                           By:  /S/  Stephen  G.  Morrison
                                --------------------------
                           Title:
                                --------------------------

GUARANTORS:
                           MYND  CORPORATION  F/K/A  CYBERTEK
                             CORPORATION
                           MYND  INTERNATIONAL,  LTD.
                           MYND  PARTNERS, L.P. F/K/A CYBERTEK SOLUTIONS,  L.P.
                              By:  POLICY  MANAGEMENT
                              SYSTEMS  CORPORATION,  its  General  Partner
                              MYND  CORPORATION  F/K/A  DORN
                           TECHNOLOGY  GROUP,  INC.
                           MYND  CORPORATION  F/K/A  THE
                              LEVERAGE  GROUP,  INC.
                           SOFTWARE  SERVICES  HOLDING,  INC.

                      By:     /S/  Stephen  G.  Morrison
                              ---------------------------
                      Title:  ___________________________

                                        4
<PAGE>
                                            POLICY  MANAGEMENT  SYSTEMS
                                              INVESTMENTS,  INC.

                                            By: /S/  Elizabeth D. Powers
                                                --------------------------
                                            Title:  President
                                                --------------------------

                                        5
<PAGE>
BANKS:                                      BANK  OF  AMERICA,  N.A.

                                            By:/S/  John  E.  Williams
                                                --------------------------
                                            Title:   Managing  Director
                                                --------------------------

                                            WACHOVIA  BANK,  N.A.

                                            By:/S/  Donald E. Sellers, Jr.
                                                --------------------------
                                            Title:  Senior Vice President
                                                --------------------------

                                            FIRST UNION NATIONAL BANK

                                            By:/S/  Franklin M. Wesssinger
                                                --------------------------
                                            Title: Senior Vice President
                                                --------------------------

                                        6
<PAGE>

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