NCC EXPORT SYSTEMS 1995 LTD.
00 Xxxxxxx Xxxxxx
Xxxx Xxxxxxx 00000, Israel
January 29, 1997
PaperClip Software, Inc.
Xxxxx Xxxxxxxxxx Xxxxx
Xxxxxxxxxx, XX 00000
ATTN: Xxxxxxx Xxxxx
Dear Xx. Xxxxx:
Reference is made to (i) that certain Reschedule Agreement between NCC
Export Systems 1995 LTD. ("us" or "we") and PaperClip Imaging Software, Inc.
(n/k/a PaperClip Software, Inc., "you"), dated as of the 21st day of October,
1996 (the "Reschedule Agreement") and (ii) that certain Security Agreement
between you as Pledgor and us as Secured Party, dated as of the 21st day of
October, 1996 (the "Security Agreement").
We are confirming herewith that we are in receipt of $65,634.50, which
is the full amount owed to us by you pursuant to the Reschedule Agreement.
In consideration of the above mentioned payment, we hereby terminate
each of the Reschedule Agreement and the Security Agreement. We shall execute
all documents reasonably necessary to evidence the termination of the liens and
security interests granted to us pursuant to the Reschedule Agreement and the
Security Agreement.
NCC EXPORT SYSTEMS 1995 LTD.
By: /s/ Xxxxx Xxxxxx
--------------------------------
Name: Xxxxx Xxxxxx
Title: Vice President for Finances
