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Exhibit 10.3
AMENDMENT OF OPTIONS
This Amendment of Options is made this 12th day of May, 1999 between
FlexiInternational Software, Inc. (the "Company") and Xxxxxxxx X. Xxxxx (the
"Optionholder"). For good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the undersigned agree as follows:
1. Each of the agreements in effect on January 21, 1999 between the
Company and the Optionholder to purchase shares of common stock of the
Company (each, an "Option") is hereby amended to provide that the
shares issuable under such Option shall, notwithstanding any provision
to the contrary therein, become fully exercisable on the termination
of the Company's obligation to pay Salary Continuation as defined in
the Severance and Settlement Agreement dated February 2, 1999 between
the Company and the Optionholder, unless such Option has then or
previously expired.
2. All terms of each of the Options shall be deemed amended and
supplemented to the extent necessary to effect the intent of the
foregoing provision.
3. Except as expressly provided above, each of the Options shall remain
in effect in accordance with its terms.
In witness whereof, the undersigned have duly executed this Amendment
of Options as of the date first set forth above.
FLEXIINTERNATIONAL SOFTWARE, INC.
By: /s/ Xxxxxxxx X. Xxxxx
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Name: (Signature of Optionholder)
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Title:
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