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EXHIBIT 7
PERSONAL AND CONFIDENTIAL
October 7, 2000
Xx. Xxxxxx X. Xxxxxx
Chairman, Special Committee
Phoenix International Ltd., Inc.
c/o Xx. Xxxxxx Xxxxxxxxxx
Phoenix International Ltd., Inc.
000 Xxxxxxxxxxxxx Xxxxxxx
Xxxxxxxx, Xxxxxxx 00000
Dear Xx. Xxxxxx:
Reference is made to that certain letter agreement between PHOENIX
INTERNATIONAL LTD., INC. (the "Company") and LONDON BRIDGE SOFTWARE HOLDINGS
PLC. ("London Bridge") dated August 22, 2000 relating to the exclusive
discussions between the parties thereto concerning a proposed negotiated
transaction (the "Exclusivity Agreement"). Capitalized terms used in this letter
agreement but not defined have the respective meanings given to such terms in
the Exclusivity Agreement.
The parties hereto agree that the Exclusivity Period shall continue,
without interruption, through October 31, 2000. Except as expressly set forth in
this letter agreement, the remaining terms and conditions contained in the
Exclusivity Agreement shall remain in full force and effect.
The agreement set forth in this letter may be modified or waived only
by a separate writing by the Company and London Bridge expressly modifying or
waiving such agreement. It is further understood and agreed that no failure or
delay in exercising any right, power or privilege hereunder will operate as a
waiver thereof, nor will any single or partial exercise thereof preclude any
other or further exercise thereof or the exercise of any other right, power or
privilege hereunder.
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Please confirm your agreement with the foregoing by signing and
returning one copy of this agreement, whereupon this agreement shall become a
binding agreement between London Bridge and the Company.
Very truly yours,
LONDON BRIDGE SOFTWARE HOLDINGS PLC.
By: /s/ Xxx Xxx
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Name: Xxx Xxx
Title: Chief Operating Officer
Accepted and agreed as of
the date first written above:
PHOENIX INTERNATIONAL LTD., INC.
By: /s/ Xxxxxx X. Xxxxxx
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Name: Xxxxxx X. Xxxxxx
Title: Chairman, Special Committee
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