Document:

<PAGE>
                                                                   Exhibit 10.52

                           LICENSED SYSTEM ADDENDUM #4

                                       to

                       MASTER TECHNOLOGY LICENSE AGREEMENT

                                     between

                             SEIKO EPSON CORPORATION

                                       and

                   PEERLESS SYSTEMS(R) IMAGING PRODUCTS, INC.

Confidential treatment has been requested for portions of this exhibit. The copy
filed herewith omits the information subject to the confidentiality request.
Omissions are designated as *. A complete version of this exhibit has been filed
separately with the Securities and Exchange Commission.

<PAGE>

                      LICENSED SYSTEM ADDENDUM #4 TO MASTER
                       TECHNOLOGY LICENSE AGREEMENT DATED
                                  APRIL 1, 2000

The Licensed System Addendum #4 ("this LSA #4") is entered into as of October
19, 2001 (the "Effective Date") by and between SEIKO EPSON Corporation, a
Japanese corporation ("SEC") and PEERLESS Systems(R) Imaging Products Inc., a
Washington corporation, with offices at 20415 72nd Ave. S. Suite 400, Kent WA
98032 (hereinafter "PSIP"), a wholly owned subsidiary of PEERLESS Systems
Corporation, a Delaware corporation, pursuant to the provisions of the Master
Technology License Agreement between those Parties dated April 1, 2000 (the
"MTLA"). That MTLA provides that SEC may be granted a license of certain
Licensed Products from PSIP pursuant to one or more Addenda to the MTLA executed
by SEC and PSIP. This LSA #4 is hereby made part thereof, and the terms and
conditions of the MTLA are incorporated by reference herein. To the extent there
are any inconsistencies between this LSA #4 and the MTLA or the LSA #1, LSA #2
or LSA #3, this LSA #4 shall control.

This LSA #4 includes the following Exhibits:

         Exhibit A - Description of License Granted
         Exhibit B - Payments and Payment Terms
         Attachment #1 - Summary of Authorized SEC Devices Licensed by LSA #4

IN WITNESS WHEREOF, the Parties have executed this LSA #4 as of the Effective
Date.

SEIKO EPSON CORPORATION                PEERLESS SYSTEMS IMAGING PRODUCTS, INC.

By:                                    By:

/s/ Kazuhiko Iida                      /s/ Ron Davis
-------------------------------------  -----------------------------------------
(Authorized Signature)                 (Authorized Signature)
Name: Kazuhiko Iida                    Name: Ron Davis
Title: General Manager                 Title: Vice President Sales and Marketing
Date: October 19, 2001                 Date: October 19, 2001

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10/15/01                       Page 1 of 15          Initials: PSIP ___; SEC ___

<PAGE>

                           LICENSED SYSTEM ADDENDUM #4

1.0 DEFINITIONS. All capitalized terms used herein shall have the meaning
specified in this LSA #4 or, if not defined herein, then the meaning specified
in the MTLA. For the terms that are defined in this Section 1 and in the MTLA,
or LSA #1 or LSA #2 or LSA #3 the definition provided herein shall govern for
all purposes hereof.

1.1 "Derivative Product", with respect to any hardware product, means the main
body of a SEC product incorporating PSIP Materials and any other components
which shall be bundled with and be contained in a package with the main body of
product at the time of SEC's shipment of that product to SEC's customer.

1.2 "Machine Executable Copy" includes anything designated as such under the
MTLA and, without limiting the foregoing, any object code, machine executable
version of any Derivative Work of any Current Release or Update Release licensed
to SEC under this LSA #4.

1.3 "PSIP Materials" includes anything designated as such under the MTLA and,
without limiting the foregoing, any of the foregoing incorporated in or
underlying any Derivative Work created thereof.

1.4 "Bundled Product" in the context of this LSA #4 means that every unit of the
designated Authorized SEC Devices shipped will contain Adobe PostScript(R)3(TM).

1.5 "Unbundled Product" in the contest of this LSA #4 means everyone of the
designated Authorized SEC Devices may not contain Adobe PostScript(R)3(TM). In
the event that the Authorized SEC Device is offered for sale with Adobe
PostScript(R)3(TM) both as an option and as a standard feature (in this case as
two versions of the same Authorized SEC Device), both versions will be
considered as "Unbundled Products".

2.0 ADDITIONAL LICENSE GRANTED. Unless specifically set out herein, SEC is given
no rights hereunder to distribute, or in any other manner transfer Source Code
or Source Materials to any third person. All Licenses granted herein are
non-exclusive.

3.0 DELIVERABLES. SEC agrees that PSIP has transmitted to an Authorized SEC
Facility one (1) copy of the Machine Executable Code and related standard
documentation for each Authorized SEC Device identified herein.

4.0 TERM AND TERMINATION. The term of this LSA #4 shall commence upon the
Effective Date and shall be contemporaneous with the term of the License under
the MTLA.

5.0 INDEMNIFICATION. SEC shall have the right, subject to the MTLA, LSA #1, LSA
#2, LSA #3 and this LSA #4, to control its development, manufacturing and
marketing efforts. Accordingly, SEC shall, except to the extent that PSIP has
indemnified SEC pursuant to the MTLA, indemnify and hold PSIP harmless from any
and all losses or damages (including without limitation attorney's fees and
costs and all third party claims or demands of any type whatsoever) arising out
of, incurred in connection with or relating to the SEC's development,
manufacturing and marketing of Authorized SEC Devices.

6.0 PROPRIETARY RIGHTS AND CONFIDENTIALITY
6.1 PSIP shall own all title and proprietary rights, including without
limitation copyrights, patents and trade secret rights, in any PSIP Material,
including without limitation any portion thereof incorporated in or underlying
any Derivative Work created by SEC, and any part or copy

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10/15/01                       Page 2 of 15          Initials: PSIP ___; SEC ___

<PAGE>

of any of the foregoing in any form or media. In the case of all Derivative
Work, PSIP shall continue to own the underlying Code and all proprietary rights
thereto, and shall own the Derivative Work as a whole and all proprietary rights
thereto. PSIP shall own such modifications per se and all proprietary rights
thereto. SEC Shall have the right and license to use such modifications per se
to the same extent it is licensed to use the Code in such respective formats as
set forth elsewhere in the MTLA, LSA #1, LSA #2, LSA #3 and this LSA #4. The
foregoing ownership rights are subject to the Licenses set forth herein. Rights
not expressly granted to the SEC hereunder are reserved by the PSIP.

Without limiting the foregoing, SEC shall own all title and proprietary rights
in any pre-existing SEC intellectual property that SEC contributes to any such
Derivative Work.

6.2 Without limiting any of SEC's obligations of confidentiality imposed
pursuant to the MTLA, SEC shall (i) specifically require any employee and
contractor of SEC to execute SEC's standard confidentiality and non-disclosure
agreement(s); (ii) notify PSIP promptly and in writing of any circumstances of
which SEC has knowledge regarding any possible use of or access to any
Confidential Information or any part thereof by any unauthorized person or
entity; and (iii) take and allow PSIP to take, at SEC's expense but under PSIP's
control, any legal or other action necessary to prevent or stop the access to or
use of the Confidential Information by any person or entity that has gained
access to the Confidential Information due to the fault or negligence of License
or any breach by SEC of the MTLA or this LSA #4.

6.3 Any breach by SEC of any of its obligations under the Section 6 shall be
considered to be Default of the provisions of the MTLA.

7.0 AUDIT RIGHTS. PSIP shall have the right, upon one reasonable prior notice,
to have one (1) of its employees walk through and inspect any SEC Facility to
determine whether SEC employs adequate security procedures as required in
Paragraph 6.2 of this LSA #4. Any such audit shall take place during business
hours at SEC's location and shall be conducted in a manner that does not
unreasonably disrupt the business operations of SEC. PSIP shall bear the expense
of any such audit. PSIP shall comply with SEC's instructions during the audit of
the SEC Facility.

///End

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10/15/01                        Page 3 of 15         Initials: PSIP ___; SEC ___

<PAGE>

                   EXHIBIT A - DESCRIPTION OF LICENSE GRANTED

1.0 PSIP Licensed Products: SEC is authorized to distribute the following PSIP
Licensed Product(s) listed below which it has received in Machine Executable
Copy form:

         1.1 PSIP API(TM) specification as used in connection with the SEC Seiko
             Page Printer Platform (SPPP) interface.

         1.2 Machine executable Adobe PostScript(R)3(TM)code including:
                 1.2.1   Adobe Acrobat(R)Reader
                 1.2.2   Adobe Driver Software (Current Release)
                 1.2.3   Adobe Type Manager(R)
                 1.2.4   Bitmap fonts

2.0 Authorized SEC Devices: SEC is authorized to distribute the PSIP Licensed
Products in object code format only solely in the following Authorized SEC
Devices:

         2.1 Those Authorized SEC Devices named in Attachment #1 (Summary for
         Authorized SEC Devices) to LSA #1 dated July 13, 2000, to the MTLA.
         Specifically, the SEC designated products, * Printer Systems.

         2.2 Those Authorized SEC Devices named in Attachment #1 (Summary for
         Authorized Devices) to LSA #2 dated October 31, 2000 to the MTLA.
         Specifically, the SEC designated products, * Printer Systems.

         2.3 Those Authorized SEC Devices named in Attachment #1 (Summary for
         Authorized Devices) to LSA #3 to the MTLA. Specifically, the SEC
         designated products * Printer Systems.

         2.4 Those Authorized SEC Devices named in Attachment #1 (Summary for
         Authorized Devices) to LSA #4 to the MTLA. Specifically, the SEC
         designated products * Printer Systems.

It is understood between the Parties that SEC has delivered to PSIP the latest
technical specifications for each of the Authorized SEC Devices as of the date
of execution of the LSA #4.

3.0 Authorized SEC Facility: SEC may store and use the PSIP Materials only at
the following Authorized SEC Facility:

         Hirooka Office: 80, Harashinden, Hirooka, Shioijiri-shi, Nagano-ken,
         399-0785, Japan.

The Authorized SEC Facility may be changed with the written approval of PSIP,
which approval shall not be unreasonably withheld. When the Authorized SEC
Facility above is sought to be changed, SEC will notify PSIP in writing of the
substitute Authorized SEC Facility's name and address at least thirty (30) days
in advance of said change. When SEC stores the duplicated PSIP Materials at a
more than one Authorized SEC Facility, then any additional Authorized SEC
Facility shall be deemed to be an Authorized SEC Facility thirty (30) days after
SEC both (i) has notified PSIP in writing of the address of such additional
facility and PSIP's approval has been granted, and (ii) has paid PSIP's then
standard fee for adding an Authorized SEC Facility.

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

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10/15/01                        Page 4 of 15         Initials: PSIP ___; SEC ___

<PAGE>

         3.1 Reproduction Sites.  SEC may reproduce the PSIP Material in machine
         executable code format (object code) for each of the above designated
         Authorized SEC Devices at any SEC designated manufacturing facility
         worldwide. ///End

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10/15/01                        Page 5 of 15         Initials: PSIP ___; SEC ___

<PAGE>

                     EXHIBIT B - PAYMENTS AND PAYMENT TERMS

1.0 PER UNIT LICENSE FEES: For each Authorized SEC Device shipped pursuant to
LSA #1, LSA #2, LSA #3 and this LSA #4, PSIP and SEC agree that there shall be a
non-refundable, non-transferable and non-creditable Per Unit License Fee due and
paid to PSIP. The amount of the Per Unit License Fees for each Derivative
Product developed hereunder is shown below. The percentages in the following
tables are based on the Suggested Retail Price (SRP) of the product. In the
event that a relevant SRP in Japanese Yen shall be established in Japan, the SRP
shall be converted into U.S. dollars at TTM rate equal to the average exchange
rates for the appropriate currency issued by The Fuji Bank, Limited at the end
of the first and last days of the relevant quarterly accounting period (or the
first business day thereafter if such day is a Sunday or other non-business day.
In the event that a legal SRP cannot be established outside the United States,
the SRP of the product in the United States will be used.

1.1 Per Unit LICENSE FEES: The recurring Per Unit License Fee is the fee that
PSIP charges SEC for the right to use PSIP's Licensed Products in each product
shipped by SEC is detailed below.

       1.1.1  License Fees for Authorized SEC Devices Authorized in LSA #1.

<TABLE>
<CAPTION>
      -------------------------------------------------------------------------------------------
                    Table #1 - Per Unit License Fees for Japanese Character Version
                          (Inclusive of Roman Character Font License Fees)
                        (Exclusive of Japanese Character Font License Fees)
      -------------------------------------------------------------------------------------------
                             Royalty for Licensed System       Royalty for Optional PostScript
                                      (Bundled)                        Kit (Unbundled)
      -------------------------------------------------------------------------------------------
      <S>                    <C>                               <C>
          Color                           *%                                 *%
      -------------------------------------------------------------------------------------------
       Monochrome                         *%                                 *%
      -------------------------------------------------------------------------------------------

<CAPTION>
      -------------------------------------------------------------------------------------------
                    Table #2 - Per Unit License Fees for Roman Character Version
                          (Inclusive of Roman Character Font License Fees)
      -------------------------------------------------------------------------------------------
                             Royalty for Licensed System       Royalty for Optional PostScript
                                      (Bundled)                        Kit (Unbundled)
      -------------------------------------------------------------------------------------------
      <S>                    <C>                               <C>
          Color                           *%                                 *%
      -------------------------------------------------------------------------------------------
       Monochrome                         *%                                 *%
      -------------------------------------------------------------------------------------------
</TABLE>

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
10/15/01                        Page 6 of 15         Initials: PSIP ___; SEC ___

<PAGE>

<TABLE>
<CAPTION>
    --------------------------------------------------------------------------------------------------
                    Table #3 - Per Unit Incremental License Fee for Japanese Character
                                    PostScript Font - Heisei Font Set
                                            (Two font Minimum)
    --------------------------------------------------------------------------------------------------
          Japanese SRP for Each Licensed System                Per Heisei Typeface in U.S. $
    --------------------------------------------------------------------------------------------------
    <S>                                                        <C>
                             *                                                $*
    --------------------------------------------------------------------------------------------------
                             *                                                $*
    --------------------------------------------------------------------------------------------------
                             *                                                $*
    -------------------------------------------------------------------------------------------------
                             *                                                $*
    --------------------------------------------------------------------------------------------------
                             *                                                $*
    --------------------------------------------------------------------------------------------------
                             *                                                $*
    --------------------------------------------------------------------------------------------------
                             *                                                $*
    --------------------------------------------------------------------------------------------------
                             *                                                $*
    --------------------------------------------------------------------------------------------------
                             *                                                $*
    --------------------------------------------------------------------------------------------------
                             *                                                $*
    --------------------------------------------------------------------------------------------------

<CAPTION>
    --------------------------------------------------------------------------------------------------
                    Table #4 - Per Unit Incremental License Fee for Japanese Character
                                   PostScript Font - Morisawa Font Set
                                            (Two font Minimum)
    --------------------------------------------------------------------------------------------------
           Japanese SRP for Each Licensed System                Per Heisei Typeface in U.S. $
    --------------------------------------------------------------------------------------------------
    <S>                                                         <C>
                    *                                                     $*
    --------------------------------------------------------------------------------------------------
                    *                                                     $*
    --------------------------------------------------------------------------------------------------
                    *                                                     $*
    --------------------------------------------------------------------------------------------------
                    *                                                     $*
    --------------------------------------------------------------------------------------------------
                    *                                                     $*
    --------------------------------------------------------------------------------------------------
                    *                                                     $*
    --------------------------------------------------------------------------------------------------
                    *                                                     $*
    --------------------------------------------------------------------------------------------------
                    *                                                     $*
    --------------------------------------------------------------------------------------------------
                    *                                                     $*
    --------------------------------------------------------------------------------------------------
                    *                                                     $*
    --------------------------------------------------------------------------------------------------
</TABLE>

**  denotes less than
*** denotes greater than

     1.1.1.1 *

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
10/15/01                        Page 6 of 15         Initials: PSIP ___; SEC ___

<PAGE>

     ---------------------------------------------------------------------------
                                  Table #5 - *
     ---------------------------------------------------------------------------

     1.1.1.2 *

      1.1.2 License Fees for Authorized SEC Products Authorized in LSA #2, LSA
      #3 and this LSA #4.

<TABLE>
<CAPTION>
     ---------------------------------------------------------------------------------
                              Table #6 - Per Unit License Fees
                      (Inclusive of Roman Character Font License Fees)
                     (Exclusive of Japanese Character Font License Fees
     ---------------------------------------------------------------------------------
                          Royalty for Licensed System        Royalty for Optional
                                   (Bundled)              PostScript Kit (Unbundled)
     ---------------------------------------------------------------------------------
     <S>                  <C>                             <C>
            *                *% (minimum of U.S. $*)        *% (minimum of U.S. $*)
     ---------------------------------------------------------------------------------
            *                   *% (minimum of $*)          *% (minimum of U.S. $*)
     ---------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
     -----------------------------------------------------------------------------------------
                 Table #7 - Per Unit Incremental License Fee for Japanese Character
                                 PostScript Font - Heisei Font Set
                                         (Two font Minimum)
     -----------------------------------------------------------------------------------------
       Japanese SRP for Each Licensed System                 Per Heisei Typeface in U.S. $
     -----------------------------------------------------------------------------------------
     <S>                                                     <C>
                        *                                                 $*
     -----------------------------------------------------------------------------------------
                        *                                                 $*
     -----------------------------------------------------------------------------------------
                        *                                                 $*
     -----------------------------------------------------------------------------------------
                        *                                                 $*
     -----------------------------------------------------------------------------------------
                        *                                                 $*
     -----------------------------------------------------------------------------------------
                        *                                                 $*
     -----------------------------------------------------------------------------------------
                        *                                                 $*
     -----------------------------------------------------------------------------------------
                        *                                                 $*
     -----------------------------------------------------------------------------------------
                        *                                                 $*
     -----------------------------------------------------------------------------------------
                        *                                                 $*
     -----------------------------------------------------------------------------------------
</TABLE>

** denotes less than
*** denotes greater than

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
10/15/01 Page                        8 of 15         Initials: PSIP ___; SEC ___

<PAGE>

<TABLE>
<CAPTION>
     --------------------------------------------------------------------------------------------
                  Table #8 - Per Unit Incremental License Fee for Japanese Character
                                 PostScript Font - Morisawa Font Set
                                          (Two font Minimum)
     --------------------------------------------------------------------------------------------
        Japanese SRP for Each Licensed System              Per Heisei Typeface in U.S. $
     --------------------------------------------------------------------------------------------
     <S>                                                   <C>
                          *                                               $*
     --------------------------------------------------------------------------------------------
                          *                                               $*
     --------------------------------------------------------------------------------------------
                          *                                               $*
     --------------------------------------------------------------------------------------------
                          *                                               $*
     --------------------------------------------------------------------------------------------
                          *                                               $*
     --------------------------------------------------------------------------------------------
                          *                                               $*
     --------------------------------------------------------------------------------------------
                          *                                               $*
     --------------------------------------------------------------------------------------------
                          *                                               $*
     --------------------------------------------------------------------------------------------
                          *                                               $*
     --------------------------------------------------------------------------------------------
                          *                                               $*
     --------------------------------------------------------------------------------------------
</TABLE>

     1.1.2.1 *

     ---------------------------------------------------------------------------
                                  Table #9 - *
     ---------------------------------------------------------------------------

**  denotes less than
*** denotes greater than

     1.1.2.2 *

1.2 BLOCK LICENSE.
     1.2.1 Block License Grant. In lieu of paying the required Per Unit Royalty
     Fee on an "as incurred" basis, PSIP has granted SEC a Block License under
     which SEC may offset the Per Unit Royalties incurred by the Authorized SEC
     Devices identified in Exhibit A, Section 2 herein; provided that, SEC may
     not offset the Per Unit Royalties incurred by

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
10/15/01 Page                        9 of 15         Initials: PSIP ___; SEC ___

<PAGE>

         any additional Authorized SEC Devices to be granted under a license of
         future Licensed System Addenda to be attached to the MTLA.

         1.2.2 Block License Payment. PSIP has granted SEC a Block License for
         PSIP Licensed Products contained in the Authorized SEC Devices. This
         Block License will be granted for non-refundable, non-transferable and
         non-creditable payment of U.S.$ * (*) due and payable as of the
         execution date of this LSA#4. This Block License Payment shall be paid
         within * after execution of this LSA#4.

         1.2.3 Block License Terms and Conditions. The terms and conditions of
         the PSIP granted Block License to SEC are as follows.

         a)   The utilization of the Block License shall apply to the use of all
              PSIP Licensed Products named in LSA #1, LSA #2, LSA #3 and this
              LSA #4 (as listed in Exhibit A, Section 2.0 herein).

         b)   For the distribution of the Authorized SEC Devices named in LSA
              #1, SEC may apply, at its sole discretion, Per Unit License Fees
              for each object code copy of the PSIP Licensed Products as set
              forth in Exhibit B, Section 1.1.1 hereof or those fees as set out
              below in Exhibit B, Section 1.2.4 hereof. For the distribution of
              the Authorized SEC Devices named in LSA# 2, LSA #3 or this LSA #4,
              SEC may apply the reduced Per Unit License Fees for each object
              code copy of the PSIP Licensed Product as set out below in Exhibit
              B, Section 1.2.4 herein.

         c)   SEC will apply the above stated Per Unit Recurring License Fee to
              the actual number of Authorized SEC Devices shipped which contain
              the object code copies of the PSIP Licensed Products and will thus
              calculate the equivalent earned Per Unit Recurring License Fee.

         d)   The Per Unit Recurring License Fees stated in Exhibit B, Section
              1.1.1 (solely for Authorized SEC Devices licensed in LSA#1) and/or
              Section 1.2.4 below, shall apply until the crediting of the
              equivalent earned recurring license fee equals U.S.$ * (*).

         e)   Upon exhaustion of the U.S.$ *Block License plus any Additional
              Block Licenses for each new printer as set out below, in any, at
              SEC's option, the following actions may take place:

              i)    SEC, at its sole discretion, may purchase future Block
                    License(s) in the amount of U.S. $* (*) under the same terms
                    and conditions as enumerated herein; provided however, that
                    PSIP and SEC shall negotiate to reduce Per Unit License Fees
                    for all Authorized SEC Devices to be applied to those future
                    Block Licenses from any previous Per Unit License Fee. If
                    SEC has executed additional Block License(s) in which the
                    Authorized SEC Devices named in LSA #1, LSA #2, LSA #3 and
                    this LSA #4 are in part or in total named, then the Per Unit
                    Recurring License Fee for such Authorized SEC Devices may be
                    credited against those additional granted Block License(s).

              ii)   SEC, at its sole discretion, may purchase additional Block
                    License(s) in the amount of U.S. $* (*) each under the same
                    terms and conditions as enumerated herein.

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
10/15/01 Page                      10 of 15          Initials: PSIP ___; SEC ___

<PAGE>

          iii) SEC, at its sole discretion may decide not to purchase an
               additional Block License as set forth in e) i) or ii) above, in
               which case the recurring Per Unit License Fee for each Authorized
               SEC Device named in LSA #1 shall revert to the rate defined in
               Exhibit B, Section 1.1 hereof and those fees for each Authorized
               SEC Device named in LSA #2, LSA #3 and this LSA #4 would revert
               to rate as defined in Exhibit B, Section 1.1.2 herein.

     1.2.4 License Fees for Authorized SEC Devices Authorized in LSA #1, LSA #2,
     LSA #3 and LSA #4 under this Block License. In the case of products
     authorized in LSA #1, SEC may, at its sole discretion use either the Per
     Unit License Fees enumerated in Section 1.1.1 or below under the Block
     License:

<TABLE>
<CAPTION>
     ---------------------------------------------------------------------------------------
                              Table #10 - Per Unit License Fees
                       (Inclusive of Roman Character Font License Fees)
                     (Exclusive of Japanese Character Font License Fees)
     ---------------------------------------------------------------------------------------
                      Royalty for Licensed System           Royalty for Optional
                             (Bundled)                   PostScript Kit (Unbundled)
     ---------------------------------------------------------------------------------------
     <S>              <C>                                <C>
          *           *% (minimum of U.S.$ *)                 *% (minimum of
                                                                  U.S.$ *)
     ---------------------------------------------------------------------------------------
          *           a) *% (minimum of $*) for             *% (minimum of U.S.
                         products with an SRP of            $*)
                         U.S. $* or less.
                      b) *% for products with an
                         SRP greater than $*.
     ---------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
     ----------------------------------------------------------------------------------------
               Table #11 - Per Unit Incremental License Fee for Japanese Character
                               PostScript Font - Heisei Font Set.
                                      (Two font Minimum)
     ----------------------------------------------------------------------------------------
        Japanese SRP for Each Licensed System                 Per Heisei Typeface in U.S. $
     ----------------------------------------------------------------------------------------
     <S>                                                      <C>
                         *                                                   $*
     ----------------------------------------------------------------------------------------
                         *                                                   $*
     ----------------------------------------------------------------------------------------
                         *                                                   $*
     ----------------------------------------------------------------------------------------
                         *                                                   $*
     ----------------------------------------------------------------------------------------
                         *                                                   $*
     ----------------------------------------------------------------------------------------
                         *                                                   $*
     ----------------------------------------------------------------------------------------
                         *                                                   $*
     ----------------------------------------------------------------------------------------
                         *                                                   $*
     ----------------------------------------------------------------------------------------
                         *                                                   $*
     ----------------------------------------------------------------------------------------
                         *                                                   $*
     ----------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
     ----------------------------------------------------------------------------------------
               Table #12 - Per Unit Incremental License Fee for Japanese Character
                               PostScript Font - Heisei Font Set.
                                      (Two font Minimum)
     ----------------------------------------------------------------------------------------
        Japanese SRP for Each Licensed System                 Per Heisei Typeface in U.S. $
     ----------------------------------------------------------------------------------------
     <S>                                                      <C>
                         *                                                  $*
     ----------------------------------------------------------------------------------------
</TABLE>

** denotes less than
*** denotes greater than

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
10/15/01 Page                      11 of 15          Initials: PSIP ___; SEC ___

<PAGE>

<TABLE>
     ---------------------------------------------------------------------------------
               <S>                            <C>
                  *                              $*
     ---------------------------------------------------------------------------------
                  *                              $*
     ---------------------------------------------------------------------------------
                  *                              $*
     ---------------------------------------------------------------------------------
                  *                              $*
     ---------------------------------------------------------------------------------
                  *                              $*
     ---------------------------------------------------------------------------------
                  *                              $*
     ---------------------------------------------------------------------------------
                  *                              $*
     ---------------------------------------------------------------------------------
                  *                              $*
     ---------------------------------------------------------------------------------
                  *                              $*
     ---------------------------------------------------------------------------------
</TABLE>

          1.2.4.1 *

------------------------------------------------------------------------------
                       Table #13 - *

------------------------------------------------------------------------------

**  denotes less than
*** denotes greater than

          1.2.4.2 *

1.3 ADDITIONAL BLOCK LICENSE

     1.3.1 Additional Block License Grant. If SEC wishes to add new AUTHORIZED
     SEC Devices using new printer engine ("New Authorized SEC Devices") and/or
     those devices using certain engines previously covered under previously
     executed LSAs, PSIP and SEC agrees to enter into new LSA to be attached to
     the MTLA and PSIP shall grant additional Block Licenses ("additional Block
     License") for New Authorized SEC Devices under the new LSA and the
     following terms and conditions:

     a)   Additional Block Licenses will be issued in the denomination of U.S.
          $* (*) for one or more New Authorized SEC Devices. (For example, if
          the Additional

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
10/15/01 Page                      12 of 15          Initials: PSIP ___; SEC ___

<PAGE>

          Block License names three (3) new Authorized SEC Devices in an
          applicable LSA, and one (1) printer engine is defined for all three
          (3) products, then the Additional Block License will be denominated at
          U.S. $*, if the three (3) new products use two (2) new printer
          engines, then the Additional Block License will be denominated at U.S.
          $*, and if the three (3) new products use certain engine previously
          covered under previously executed LSA, no additional Block License
          shall be required for such new products provided that, Per Unit
          License Fees set out in Exhibit B, Section 1.2.4 hereof shall be
          applied to such new products, and such fees paid to PSIP under the
          terms of the MTLA).

     b)   For the distribution of New Authorized SEC Devices, SEC may apply the
          reduced Per Unit License Fees as set out in Exhibit B, Section 1.2.4
          hereof to reduce any Additional Block License payments. Such
          Additional Block License will also cover the Per Unit License Fees for
          all Authorized SEC Devices licenses under previously executed LSA and
          under current LSA.

     c)   SEC, at its sole discretion, may decide not to purchase Additional
          Block License as set forth in Section 1.3.1 a) and b) above, in which
          case the rate as defined in Exhibit B, Section 1.1.2 hereof shall be
          applied as the Per Unit License Fee for each New Authorized SEC
          Devices.

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
10/15/01 Page                      13 of 15          Initials: PSIP ___; SEC ___

<PAGE>

               ATTACHMENT #1 - SUMMARY FOR AUTHORIZED SEC DEVICES

Following are product descriptions for the Authorized SEC Devices licensed under
this LSA #4.
1.0 Milan-LB Printer Summary
       1.1 Controller Design: *
       1.2 Controller CPU: *
       1.3 Operating System: *
       1.4 ROM Capacity: *
       1.5 ROM used by Adobe, *
       1.6 RAM Capacity: *
       1.7 Standard Communications:  *
       1.8 Optional Communications:  *
       1.9 Marking Engine:  *
       1.10 Resolution:  *
       1.11 Marking engine speed: *
       1.12 Color/Mono: *
       1.13 Paper Sizes: *
                1.14.1   *
                1.14.2   *
                1.14.3   *
       1.15 Paper output: *
       1.16 User Interface: Front Panel *
       1.17 Language Support: *
       1.18 Typeface: *
       1.19  * : none.

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
10/15/01 Page                      14 of 15          Initials: PSIP ___; SEC ___<PAGE>

                                                                   Exhibit 10.53

                           LICENSED SYSTEM ADDENDUM #5

                                       to

                       MASTER TECHNOLOGY LICENSE AGREEMENT

                                     between

                             SEIKO EPSON CORPORATION

                                       and

                    PEERLESS SYSTEMS(R)IMAGING PRODUCTS, INC.

Confidential treatment has been requested for portions of this exhibit. The copy
filed herewith omits the information subject to the confidentiality request.
Omissions are designated as *. A complete version of this exhibit has been filed
separately with the Securities and Exchange Commission.

<PAGE>

                      LICENSED SYSTEM ADDENDUM #5 TO MASTER
                       TECHNOLOGY LICENSE AGREEMENT DATED
                                  APRIL 1, 2000

The Licensed System Addendum #5 ("this LSA #5") is entered into as of December
1, 2001 (the "Effective Date") by and between SEIKO EPSON Corporation, a
Japanese corporation with offices at 80 Harashinden, Hirooka Shiojiri-shi,
Naganoken 399-0785 Japan ("SEC") and PEERLESS Systems(R) Imaging Products Inc.,
a Washington corporation, with offices at 20415 72/nd/ Ave. S., Suite 400, Kent
WA 98032 (hereinafter "PSIP"), a wholly owned subsidiary of PEERLESS Systems
Corporation, a Delaware corporation, pursuant to the provisions of the Master
Technology License Agreement between those Parties dated April 1, 2000 (the
"MTLA"). That MTLA provides that SEC may be granted a license of certain
Licensed Products from PSIP pursuant to one or more Addenda to the MTLA executed
by SEC and PSIP. This LSA #5 is hereby made part thereof, and the terms and
conditions of the MTLA are incorporated by reference herein. To the extent there
are any inconsistencies between this LSA #5 and the MTLA or the LSA #1, LSA #2,
LSA #3, LSA #4, this LSA #5 shall control.

This LSA #5 includes the following Exhibits:

         Exhibit A - Description of License Granted
         Exhibit B - Payments and Payment Terms
         Attachment #1 - Summary of Authorized SEC Devices Licensed by LSA #5

IN WITNESS WHEREOF, the Parties have executed this LSA #5 as of the Effective
Date.

SEIKO EPSON CORPORATION                            PEERLESS SYSTEMS IMAGING
                                                   PRODUCTS, INC.

By:                                                By:

/S/ Kazuhiko Iida                                  /s/ Ron Davis
------------------------------------               -----------------------------
(Authorized Signature)                             (Authorized Signature)
Name:  Kazuhiko Iida                               Name:  Ron Davis
Title: General Manager                             Title: Vice President, Sales
Date:  January 15, 2002                            Date:  January 15, 2002

--------------------------------------------------------------------------------
01/15/02                          Page 1 of 16           Initials: PSIP__;SEC___

<PAGE>

                          LICENSED SYSTEMS ADDENDUM #5

1.0 DEFINITIONS. All capitalized terms used herein shall have the meaning
specified in this LSA #5 or, if not defined herein, then the meaning specified
in the MTLA. For the terms that are defined in this Section 1 and in the MTLA,
or LSA #1 or LSA #2 or LSA #3 or LSA #4 the definition provided herein shall
govern for all purposes hereof.

1.1 "Derivative Product", with respect to any hardware product, means the main
body of a SEC product incorporating PSIP Materials and any other components
which shall be bundled with and be contained in a package with the main body of
product at the time of SEC's shipment of that product to SEC's customer.

1.2 "Machine Executable Copy" includes anything designated as such under the
MTLA and, without limiting the foregoing, any object code, machine executable
version of any Derivative Work of any Current Release or Update Release licensed
to SEC under this LSA #5.

1.3 "PSIP Materials" includes anything designated as such under the MTLA and,
without limiting the foregoing, any of the foregoing incorporated in or
underlying any Derivative Work created thereof.

1.4 "Bundled Product" in the context of this LSA #5 means that every unit of the
designated Authorized SEC Devices shipped will contain Adobe PostScript(R)3(TM).

1.5 "Unbundled Product" in the contest of this LSA #5 means everyone of the
designated Authorized SEC Devices may not contain Adobe PostScript(R)3(TM). In
the event that the Authorized SEC Device is offered for sale with Adobe
PostScript(R)3(TM) both as an option and as a standard feature (in this case as
two versions of the same Authorized SEC Device), both versions will be
considered as "Unbundled Products".

2.0 ADDITIONAL LICENSE GRANTED.

Unless specifically set out herein, SEC is given no rights hereunder to
distribute, or in any other manner transfer Source Code or Source Materials to
any third person. All Licenses granted herein are non-exclusive.

3.0 DELIVERABLES. SEC agrees that PSIP has transmitted to an Authorized SEC
Facility one (1) copy of the Machine Executable Code and related standard
documentation for each Authorized SEC Device identified herein.

4.0 TERM AND TERMINATION. The term of this LSA #5 shall commence upon the
Effective Date and shall be contemporaneous with the term of the License under
the MTLA.

5.0 INDEMNIFICATION. SEC shall have the right, subject to the MTLA, LSA #1, LSA
#2, LSA #3, LSA #4, and this LSA #5, to control its development, manufacturing
and marketing efforts. Accordingly, SEC shall, except to the extent that PSIP
has indemnified SEC pursuant to the MTLA, indemnify and hold PSIP harmless from
any and all losses or damages (including without limitation attorneys' fees and
costs and all third party claims or demands of any type whatsoever) arising out
of, incurred in connection with or relating to the SEC's development,
manufacturing and marketing of Authorized SEC Devices.

6.0 PROPRIETARY RIGHTS AND CONFIDENTIALITY

6.1 PSIP shall own all title and proprietary rights, including without
limitation copyrights, patents and trade secret rights, in any PSIP Material,
including without limitation any portion

--------------------------------------------------------------------------------
01/15/02                          Page 2 of 16           Initials: PSIP__;SEC___

<PAGE>

thereof incorporated in or underlying any Derivative Work created by SEC and any
part or copy of any of the foregoing in any form or media. In the case of all
Derivative Work, PSIP shall continue to own the underlying Code and all
proprietary rights thereto, and shall own the Derivative Work as a whole and all
proprietary rights thereto. PSIP shall own such modifications per se and all
proprietary rights thereto. SEC shall have the right and license to use such
modifications per se to the same extent it is licensed to use the Code in such
respective formats as set forth elsewhere in the MTLA, LSA #1, LSA #2, LSA #3,
LSA #4, and this LSA #5. The foregoing ownership rights are subject to the
Licenses set forth herein. Rights not expressly granted to the SEC hereunder are
reserved by the PSIP.

Without limiting the foregoing, SEC shall own all title and proprietary rights
in any pre-existing SEC intellectual property that SEC contributes to any such
Derivative Work.

6.2 Without limiting any of SEC's obligations of confidentiality imposed
pursuant to the MTLA, SEC shall (i) specifically require any employee and
contractor of SEC to execute SEC's standard confidentiality and non-disclosure
agreement(s); (ii) notify PSIP promptly and in writing of any circumstances of
which SEC has knowledge regarding any possible use of or access to any
Confidential Information or any part thereof by any unauthorized person or
entity; and (iii) take and allow PSIP to take, at SEC's expense but under PSIP's
control, any legal or other action necessary to prevent or stop the access to or
use of the Confidential Information by an person or entity that has gained
access to the Confidential Information due to the fault or negligence of License
or any breach by SEC of the MTLA or this LSA #5.

6.3 Any breach by SEC of any of its obligations under the Section 6 shall be
considered to be Default of the provisions of the MTLA.

7.0 AUDIT RIGHTS. PSIP shall have the right, upon one reasonable prior notice,
to have one (1) of its employees walk through and inspect any SEC Facility to
determine whether SEC employs adequate security procedures as required in
Paragraph 6.2 of this LSA #5. Any such audit shall take place during business
hours at SEC's location and shall be conducted in a manner that does not
unreasonably disrupt the business operations of SEC. PSIP shall bear the expense
of any such audit. PSIP shall comply with SEC's instructions during the audit of
the SEC Facility.

///End

--------------------------------------------------------------------------------
01/15/02                          Page 3 of 16           Initials: PSIP__;SEC___

<PAGE>

                   EXHIBIT A - DESCRIPTION OF LICENSE GRANTED

1.0 PSIP Licensed Products: SEC is authorized to distribute the following PSIP
Licensed Product(s) listed below which it has received in Machine Executable
Copy form:

          1.1  PSIP API(TM) specification as used in connection with the SEC
               Seiko Page Printer Platform (SPPP) interface.

          1.2  Machine executable Adobe PostScript(R)3(TM) code including:

                     1.2.1     Adobe Acrobat(R)Reader
                     1.2.2     Adobe Driver Software (Current Release)
                     1.2.3     Adobe Type Manager(R)
                     1.2.4     Bitmap fonts

2.0 Authorized SEC Devices: SEC is authorized to distribute the PSIP Licensed
Products in object code format only solely in the following Authorized SEC
Devices:

          2.1 Those Authorized SEC Devices named in Attachment #1 (Summary for
          Authorized SEC Devices) to LSA #1 dated July 13, 2000, to the MTLA.
          Specifically, the SEC designated products, *.

          2.2 Those Authorized SEC Devices named in Attachment #1 (Summary for
          Authorized Devices) to LSA #2 dated October 31, 2000 to the MTLA.
          Specifically, the SEC designated products, *.

          2.3 Those Authorized SEC Devices named in Attachment #1 (Summary for
          Authorized Devices) to LSA #3 to the MTLA. Specifically, the SEC
          designated products *.

          2.4 Those Authorized SEC Devices named in Attachment #1 (Summary for
          Authorized Devices) to LSA #4 to the MTLA. Specifically, the SEC
          designated products *.

          2.5 Those Authorized SEC Devices named in Attachment #1 (Summary for
          Authorized Devices) to this LSA #5 to the MTLA. Specifically, the SEC
          designated products *.

It is understood between the Parties that SEC has delivered to PSIP the latest
technical specifications for each of the Authorized SEC Devices as of the date
of execution of the LSA #5.

3.0 Authorized SEC Facility: SEC may store and use the PSIP Materials only at
the following Authorized SEC Facility:

          Hirooka Office: 80, Harashinden, Hirooka, Shioijiri-shi, Nagano-ken,
          399-0785, Japan.

This Authorized SEC Facility may be changed with the written approval of PSIP,
which approval shall not be unreasonably withheld. When the Authorized SEC
Facility above is sought to be changed, SEC will notify PSIP in writing of the
substitute Authorized SEC Facility's name and address at least thirty (30) days
in advance of said change. When SEC stores the duplicated

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
01/15/02                          Page 4 of 16           Initials: PSIP__;SEC___

<PAGE>

PSIP Materials at a more than one Authorized SEC Facility, then any additional
Authorized SEC Facility shall be deemed to be an Authorized SEC Facility thirty
(30) days after SEC both (i) has notified PSIP in writing of the address of such
additional facility and PSIP's approval has been granted, and (ii) has paid
PSIP's then standard fee for adding an Authorized SEC Facility.

          3.1 Reproduction Sites. SEC may reproduce the PSIP Material in machine
          executable code format (object code) for each of the above designated
          Authorized SEC Devices at any SEC designated manufacturing facility
          world-wide.

          ///End

--------------------------------------------------------------------------------
01/15/02                          Page 5 of 16           Initials: PSIP__;SEC___

<PAGE>

                     EXHIBIT B - PAYMENTS AND PAYMENT TERMS

1.0 PER UNIT LICENSE FEES: For each Authorized SEC Device shipped pursuant to
LSA #1, LSA #2, LSA #3, LSA #4 and this LSA #5, PSIP and SEC agree that there
shall be a non-refundable, non-transferable and non-creditable Per Unit License
Fee due and paid to PSIP. The amount of the Per Unit License Fees for each
Authorized SEC Device developed hereunder is shown below. The percentages in the
following tables are based on the Suggested Retail Price (SRP) of the product.
In the event that a relevant SRP in Japanese Yen shall be established in Japan,
the SRP shall be converted into U.S. dollars at TTM rate equal to the average
exchange rates for the appropriate currency issued by The Fuji Bank, Limited at
the end of the first and last days of the relevant quarterly accounting period
(or the first business day thereafter if such day is a Sunday or other
non-business day. In the event that a legal SRP cannot be established outside
the United States, the SRP of the Authorized SEC Device in the United States
will be used.

1.1 Per Unit LICENSE FEES: The recurring Per Unit License Fee is the fee that
PSIP charges SEC for the right to use PSIP's Licensed Products in each
Authorized SEC Device shipped by SEC is detailed below.

          1.1.1 License Fees for Authorized SEC Devices authorized in LSA #1.

<TABLE>
<CAPTION>
         ----------------------------------------------------------------------------------
               Table #1 -- Per Unit License Fees for Japanese Character Version
                       (Inclusive of Roman Character Font License Fees)
                      (Exclusive of Japanese Character Font License Fees)
         ----------------------------------------------------------------------------------
                               Royalty for Licensed System          Royalty for Optional
                                         (Bundled)               PostScript Kit (Unbundled)
         ----------------------------------------------------------------------------------
          <S>                  <C>                               <C>
                     *                       *%                            *%
         ----------------------------------------------------------------------------------
                     *                       *%                            *%
         ----------------------------------------------------------------------------------

<CAPTION>
         ----------------------------------------------------------------------------------
                   Table #2 - Per Unit License Fees for Roman Character Version
                          (Inclusive of Roman Character Font License Fees)
         ----------------------------------------------------------------------------------
                                Royalty for Licensed System         Royalty for Optional
                                         (Bundled)               PostScript Kit (Unbundled)
         ----------------------------------------------------------------------------------
          <S>                   <C>                              <C>
                     *                      *%                              *%
         ----------------------------------------------------------------------------------
                     *                      *%                              *%
         ----------------------------------------------------------------------------------
</TABLE>

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
01/15/02                          Page 6 of 16           Initials: PSIP__;SEC___

<PAGE>

<TABLE>
<CAPTION>
          -------------------------------------------------------------------------------------------
                    Table #3 - Per Unit Incremental License Fee for Japanese Character
                                  PostScript Font - Heisei Font Set.
                                         (Two font Minimum)
          ---------------------------------------------------------------------------------------
                Japanese SRP for Each Licensed System             Per Heisei Typeface in U.S. $
          ---------------------------------------------------------------------------------------
          <S>                                                     <C>
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------

<CAPTION>
          ---------------------------------------------------------------------------------------
                    Table #4 - Per Unit Incremental License Fee for Japanese Character
                                  PostScript Font - Morisawa Font Set.
                                          (Two font Minimum)
          ---------------------------------------------------------------------------------------
                Japanese SRP for Each Licensed System             Per Heisei Typeface in U.S. $
          ---------------------------------------------------------------------------------------
          <S>                                                     <C>
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
                    *                                                          $*
          ---------------------------------------------------------------------------------------
</TABLE>

1.1.1.1 *

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
01/15/02                          Page 7 of 16           Initials: PSIP__;SEC___

<PAGE>

<TABLE>
<CAPTION>
         -------------------------------------------------------------------------------------------
                                 Table #5 - *
         -------------------------------------------------------------------------------------------

                        *                              *                              *

         -------------------------------------------------------------------------------------------
         <S>                                 <C>                           <C>

                                                           *                               *
                                                           *                               *
         -------------------------------------------------------------------------------------------
                                                           *
                                                                                           *
                                                           *                               *
         -------------------------------------------------------------------------------------------

                                                           *                               *
                                                           *                               *
         -------------------------------------------------------------------------------------------
</TABLE>

         1.1.1.2 *

     1.1.2 License Fees for Authorized SEC Devices Authorized in LSA #2, LSA #3,
LSA #4 and this LSA #5.

<TABLE>
<CAPTION>
         --------------------------------------------------------------------------------------------------
                                  Table #6 -- Per Unit License Fees
                           (Inclusive of Roman Character Font License Fees)
                         (Exclusive of Japanese Character Font License Fees)
         --------------------------------------------------------------------------------------------------
                                       Royalty for Licensed System                Royalty for Optional
                                              (Bundled)                        PostScript Kit (Unbundled)
         --------------------------------------------------------------------------------------------------
          <S>                         <C>                                      <C>
                   *                   *% (minimum of U.S.$ *)                  *% (minimum of U.S.$ *)
         --------------------------------------------------------------------------------------------------
                   *                   *% (minimum of U.S.$ *)                  *% (minimum of U.S.$ *)
         --------------------------------------------------------------------------------------------------

<CAPTION>
         ---------------------------------------------------------------------------------------------------
                                  Table #7 - Per Unit Incremental License Fee for Japanese Character
                        PostScript Font - Heisei Font Set
                               (Two font Minimum)
         ---------------------------------------------------------------------------------------------------
                        Japanese SRP for Each Licensed System             Per Heisei Typeface in U.S. $
         ---------------------------------------------------------------------------------------------------
         <S>                                                              <C>
                            *                                                         $*
         ---------------------------------------------------------------------------------------------------
                            *                                                          $*
         ---------------------------------------------------------------------------------------------------
                            *                                                          $*
         ---------------------------------------------------------------------------------------------------
                            *                                                          $*
         ---------------------------------------------------------------------------------------------------
                            *                                                          $*
         ---------------------------------------------------------------------------------------------------
                            *                                                          $*
         ---------------------------------------------------------------------------------------------------
                            *                                                          $*
         ---------------------------------------------------------------------------------------------------
                            *                                                          $*
         ---------------------------------------------------------------------------------------------------
                            *                                                          $*
         ---------------------------------------------------------------------------------------------------
                            *                                                          $*
         ---------------------------------------------------------------------------------------------------
</TABLE>

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
01/15/02                          Page 8 of 16            Initials: PSIP__;SEC__

<PAGE>

<TABLE>
<CAPTION>
         -----------------------------------------------------------------------------------------
                 Table #8 - Per Unit Incremental License Fee for Japanese Character
                                PostScript Font - Morisawa Font Set
                                       (Two font Minimum)

         ----------------------------------------------------------------------------------------
               Japanese SRP for Each Licensed System          Per Heisei Typeface in U.S. $
         ----------------------------------------------------------------------------------------
         <S>                                                  <C>
                    *                                                      $*
         ----------------------------------------------------------------------------------------
                    *                                                      $*
         ----------------------------------------------------------------------------------------
                    *                                                      $*
         ----------------------------------------------------------------------------------------
                    *                                                      $*
         ----------------------------------------------------------------------------------------
                    *                                                      $*
         ----------------------------------------------------------------------------------------
                    *                                                      $*
         ----------------------------------------------------------------------------------------
                    *                                                      $*
         ----------------------------------------------------------------------------------------
                    *                                                      $*
         ----------------------------------------------------------------------------------------
                    *                                                      $*
         ----------------------------------------------------------------------------------------
                    *                                                      $*
         ----------------------------------------------------------------------------------------
</TABLE>

         1.1.2.1 *

<TABLE>
<CAPTION>
         -----------------------------------------------------------------------------------------------
                                 Table #9 - *
         -----------------------------------------------------------------------------------------------

                        *                              *                              *
         -----------------------------------------------------------------------------------------------
         <S>                              <C>                             <C>
         *

                                                       *                              *
                                                       *                              *
         -----------------------------------------------------------------------------------------------
         *
                                                       *                              *
                                                       *                              *
         -----------------------------------------------------------------------------------------------
         *
                                                       *                              *
                                                       *                              *
         -----------------------------------------------------------------------------------------------
</TABLE>

         1.1.2.2 *

1.2 BLOCK LICENSE.

         1.2.1 Block License Grant. In lieu of paying the required Per Unit
         Royalty Fee on an "as incurred" basis, PSIP has granted SEC a Block
         License under which SEC may offset the Per Unit Royalties incurred by
         the Authorized SEC Devices identified in Exhibit A, Section 2 herein;
         provided that, SEC may not offset the Per Unit Royalties incurred by

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

*  Denotes less than
** Denotes greater than

--------------------------------------------------------------------------------
01/15/02                          Page 9 of 16            Initials: PSIP__;SEC__

<PAGE>

         any additional Authorized SEC Devices to be granted under a license of
         future Licensed System Addenda to be attached to the MTLA.

         1.2.2 Block License Payment. PSIP has granted SEC a Block License for
         PSIP Licensed Products contained in the Authorized SEC Devices. This
         Block License will be granted for non-refundable, non-transferable and
         non-creditable payment of U.S.$ * (*) due and payable as of the
         execution date of this LSA#5. This Block License Payment shall be paid
         within * after execution of this LSA#5.

         1.2.3 Block License Terms and Conditions. The terms and conditions of
         the PSIP granted Block License to SEC are as follows.

         a)       The utilization of the Block License shall apply to the use of
                  all PSIP Licensed Products named in LSA #1, LSA #2, LSA #3,
                  LSA #4 and this LSA #5 (as listed in Exhibit A, Section 2.0
                  herein).

         b)       For the distribution of the Authorized SEC Devices named in
                  LSA #1, SEC may apply, at its sole discretion, Per Unit
                  License Fees for each object code copy of the PSIP Licensed
                  Products as set forth in Exhibit B, Section 1.1.1 hereof or
                  those fees as set out below in Exhibit B, Section 1.2.4
                  hereof. For the distribution of the Authorized SEC Devices
                  named in LSA# 2, LSA #3, LSA #4 or this LSA #5, SEC may apply
                  the reduced Per Unit License Fees for each object code copy of
                  the PSIP Licensed Product as set out below in Exhibit B,
                  Section 1.2.4 herein.

         c)       SEC will apply the above stated Per Unit Recurring License Fee
                  to the actual number of Authorized SEC Devices shipped which
                  contain the object code copies of the PSIP Licensed Products
                  and will thus calculate the equivalent earned Per Unit
                  Recurring License Fee.

         d)       The Per Unit Recurring License Fees stated in Exhibit B,
                  Section 1.1.1 (solely for Authorized SEC Devices licensed in
                  LSA#1) and/or Section 1.2.4 below, shall apply until the
                  crediting of the equivalent earned recurring license fee
                  equals U.S.$ * (*).

         e)       Upon exhaustion of the U.S.$* Block License plus any
                  Additional Block Licenses for each new printer as set out
                  below, in any, at SEC's option, the following actions may take
                  place:

                  i) SEC, at its sole discretion, may purchase future Block
                  License(s) in the amount of U.S. $* (*) under the same terms
                  and conditions as enumerated herein; provided however, that
                  PSIP and SEC shall negotiate to reduce Per Unit License Fees
                  for all Authorized SEC Devices to be applied to those future
                  Block Licenses from any previous Per Unit License Fee. If SEC
                  has executed additional Block License(s) in which the
                  Authorized SEC Devices named in LSA #1, LSA #2, LSA #3, LSA #4
                  and this LSA #5 are in part or in total named, then the Per
                  Unit Recurring License Fee for such Authorized SEC Devices may
                  be credited against those additional granted Block License(s).

                  ii) SEC, at its sole discretion, may purchase additional Block
                  License(s) in the amount of U.S. $* (*) each under the same
                  terms and conditions as enumerated herein.

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
01/15/02                         Page 10 of 16           Initials:PSIP___;SEC___

<PAGE>

                  iii) SEC, at its sole discretion may decide not to purchase an
                  additional Block License as set forth in e) i) or ii) above,
                  in which case the recurring Per Unit License Fee for each
                  Authorized SEC Device named in LSA #1 shall revert to the rate
                  defined in Exhibit B, Section 1.1 hereof and those fees for
                  each Authorized SEC Device named in LSA #2, LSA #3, LSA #4 and
                  this LSA #5 would revert to rate as defined in Exhibit B,
                  Section 1.1.2 herein.

         1.2.4 License Fees for Authorized SEC Devices Authorized in LSA #1, LSA
         #2, LSA #3, LSA #4 and LSA #5 under this Block License. In the case of
         Authorized SEC Devices authorized in LSA #1, SEC may, at its sole
         discretion use either the Per Unit License Fees enumerated in Section
         1.1.1 or below under the Block License:

<TABLE>
<CAPTION>
         --------------------------------------------------------------------------------------------
                                      Table #10 - Per Unit License Fees
                               (Inclusive of Roman Character Font License Fees)
                             (Exclusive of Japanese Character Font License Fees)
         --------------------------------------------------------------------------------------------

                                               *                                   *
         --------------------------------------------------------------------------------------------
         <S>                   <C>                                     <C>
               *               *% (minimum of U.S.$ *)                       *% (minimum of
                                                                                U.S.$ *)
         --------------------------------------------------------------------------------------------
         *                     a)   *% (minimum of $*) for             *% (minimum of U.S.  $*)
                                    products with an SRP of
                                    U.S. $*or less.
                               b)   *% for products with an
                                    SRP greater than $*.
         --------------------------------------------------------------------------------------------

<CAPTION>
         --------------------------------------------------------------------------------------------
                         Table #11 - Per Unit Incremental License Fee for Japanese Character
                                         PostScript Font - Heisei Font Set.
                                                 (Two font Minimum)
         --------------------------------------------------------------------------------------------
                 Japanese SRP for Each Licensed System                 Per Heisei Typeface in U.S. $
         --------------------------------------------------------------------------------------------
         <S>                                                           <C>
                        *                                                           $*
         --------------------------------------------------------------------------------------------
                        *                                                           $*
         --------------------------------------------------------------------------------------------
                        *                                                           $*
         --------------------------------------------------------------------------------------------
                        *                                                           $*
         --------------------------------------------------------------------------------------------
                        *                                                           $*
         --------------------------------------------------------------------------------------------
                        *                                                           $*
         --------------------------------------------------------------------------------------------
                        *                                                           $*
         --------------------------------------------------------------------------------------------
                        *                                                           $*
         --------------------------------------------------------------------------------------------
                        *                                                           $*
         --------------------------------------------------------------------------------------------
                        *                                                           $*
         --------------------------------------------------------------------------------------------

<CAPTION>
         --------------------------------------------------------------------------------------------
                        Table #12 - Per Unit Incremental License Fee for Japanese Character
                                       PostScript Font - Morisawa Font Set.
                                                (Two font Minimum)
         --------------------------------------------------------------------------------------------
                Japanese SRP for Each Licensed System               Per Morisawa Typeface in U.S. $
         --------------------------------------------------------------------------------------------
         <S>                                                        <C>
                                   *                                               $*
         --------------------------------------------------------------------------------------------
</TABLE>

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
01/15/02                         Page 11 of 16           Initials:PSIP___;SEC___

<PAGE>

         -----------------------------------------------------------------------
                       *                                              $*
         -----------------------------------------------------------------------
                       *                                              $*
         -----------------------------------------------------------------------
                       *                                              $*
         -----------------------------------------------------------------------
                       *                                              $*
         -----------------------------------------------------------------------
                       *                                              $*
         -----------------------------------------------------------------------
                       *                                              $*
         -----------------------------------------------------------------------
                       *                                              $*
         -----------------------------------------------------------------------
                       *                                              $*
         -----------------------------------------------------------------------
                       *                                              $*
         -----------------------------------------------------------------------

                  1.2.4.1 *

<TABLE>
<CAPTION>
         ------------------------------------------------------------------------------------------------
                                       Table #13 - *
         ------------------------------------------------------------------------------------------------

                  *                                        *                              *
         ------------------------------------------------------------------------------------------------
         <S>                                     <C>                            <C>
         *                                                 *                              *

                                                           *                              *
         ------------------------------------------------------------------------------------------------
         *
                                                           *                              *
                                                           *                              *
         ------------------------------------------------------------------------------------------------
         *                                                 *                              *
                                                           *                              *
         ------------------------------------------------------------------------------------------------
</TABLE>

                  1.2.4.2 *

1.3 ADDITIONAL BLOCK LICENSE

         1.3.1 Additional Block License Grant. If SEC wishes to add new
         Authorized SEC Devices using new printer engine ("New Authorized SEC
         Devices") and/or those devices using certain engines previously covered
         under previously executed LSAs, PSIP and SEC agree to enter into new
         LSA to be attached to the MTLA and PSIP shall grant additional Block
         Licenses ("additional Block License") for New Authorized SEC Devices
         under the new LSA and the following terms and conditions:

         a)       Additional Block Licenses will be issued in the denomination
                  of U.S. $* (*) for one or more New Authorized SEC Device.
                  *

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

*  Denotes less than
** Denotes greater than

--------------------------------------------------------------------------------
01/15/02                         Page 12 of 16           Initials:PSIP___;SEC___

<PAGE>

          provided that, Per Unit License Fees set out in Exhibit B, Section
          1.2.4 hereof shall be applied to such new Authorized SEC Devices, and
          such fees paid to PSIP under the terms of the MTLA).

     b)   For the distribution of New Authorized SEC Devices, SEC may apply the
          reduced Per Unit License Fees as set out in Exhibit B, Section 1.2.4
          hereof to reduce any Additional Block License payments. Such
          Additional Block License will also cover the Per Unit License Fees for
          all Authorized SEC Devices licenses under previously executed LSA and
          under current LSA.

     c)   SEC, at its sole discretion, may decide not to purchase Additional
          Block License as set forth in Section 1.3.1 a) and b) above, in which
          case the rate as defined in Exhibit B, Section 1.1.2 hereof shall be
          applied as the Per Unit License Fee for each New Authorized SEC
          Device.

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
01/15/02                         Page 13 of 16           Initials:PSIP___;SEC___

<PAGE>

               ATTACHMENT #1 - SUMMARY FOR AUTHORIZED SEC DEVICES

Following are product descriptions for the Authorized SEC Devices licensed under
this LSA#5.

1.0 Milan-CG (W) (Japanese Model) (LP-8800CPS) Printer System Summary

         1.1  Controller Design: *
         1.2  Controller CPU: *
         1.3  Operating System: *
         1.4  ROM Capacity: Code: *
         1.5  ROM used by Adobe: *
         1.6  RAM Capacity: *
         1.7  Standard Communications: *
         1.8  Optional Communications: *
         1.9  Marking Engine: *
         1.10 Resolution: *
         1.11 Marking Engine Speed: *
         1.12 Color/Monochrome: *
         1.13 Paper Sizes: *
         1.14 Paper Sources:
                  1.14.1   *
                  1.14.2   *
                  1.14.3   *
         1.15 Paper output: *
         1.16 User Interface: *
         1.17 Language Support: *
         1.18 Typeface: *
         1.19 Other Adobe Software: *

2.0 Milan-SW(W) (EPL-N2120) Printer Summary
         2.1  Controller Design: *
         2.2  Controller CPU: *
         2.3  Operating System: *
         2.4  ROM Capacity: *
         2.5  ROM used by Adobe *
         2.6  RAM Capacity: *
         2.7  Standard Communications: *
         2.8  Optional Communications: *
         2.9
         2.10 Resolution: *
         2.11 Marking Engine Speed: *
         2.12 Color/Mono: *
         2.13 Paper Sizes: *
         2.14 *

                  2.14.1.  *
                  2.14.2.  *
                  2.14.3.  *

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
01/15/02 Page 14 of 16 Initials:PSIP___;SEC___

<PAGE>

                  2.14.4.  *
         2.15 Paper Output: *
         2.16 User Interface: *
         2.17 Language Support: *
         2.18 Typeface: *
         2.19 Other Adobe Software: *

* Confidential treatment has been requested for portions of this exhibit. The
copy filed herewith omits the information subject to the confidentiality
request. Omissions are designated as *. A complete version of this exhibit has
been filed separately with the Securities and Exchange Commission.

--------------------------------------------------------------------------------
01/15/02                         Page 15 of 16           Initials:PSIP___;SEC___

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