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Sample Business Contracts

License Agreement - SunGard Trust Systems Inc. and Pinnacle Management & Trust Co.

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This is an Agreement made and entered into this 9th day of February 1998, by and
between SunGard Trust Systems Inc. (hereinafter referred to as "SunGard"), a
North Carolina corporation with its principal offices at 5510 77 Center Drive,
Charlotte, North Carolina, 28217, and "USER":

            USER NAME:        Pinnacle Management & Trust Company
            ADDRESS:          5599 San Felipe, Suite 300
            CITY, STATE:      Houston, Texas  77056
            COUNTY:           Harris


SunGard has developed computer programs which, together with computer equipment,
can provide an automated system of trust department accounting for banks and
other investment firms and can provide such firms with organized and coherent
reports and records from data provided by the User. This system is hereinafter
referred to as AutoTrust.

User agrees to use AutoTrust for all User's trust accounts and SunGard is
agreeable to service all of User's trust accounts with its AutoTrust System upon
the terms, conditions and rates of compensation more fully hereinafter set
forth.

NOW THEREFORE, in consideration of the premises and the mutual covenants herein
contained and intending to be legally bound, the parties agree as follows:

      1.    LICENSE & PROTECTIVE COVENANTS. The license and protective covenants
            provisions contained in this paragraph shall apply to AutoTrust and
            all companion or related software programs.

            A.    SunGard grants to User a nonexclusive, nontransferable license
                  to use AutoTrust solely on its own equipment and solely for
                  its own business purposes for so long as this Agreement
                  remains in effect.

            B.    User acknowledges that AutoTrust and related documentation are
                  proprietary to SunGard. This Agreement does not confer any
                  rights of ownership to User; title to AutoTrust and revisions
                  or modifications made by SunGard to AutoTrust remains in
                  SunGard. AutoTrust and all revisions present or future and all
                  copyright, patent, and proprietary rights therein remain the
                  exclusive property of SunGard. Modifications to AutoTrust made
                  by SunGard or User shall not alter the ownership of AutoTrust,
                  which remains with SunGard. User hereby acknowledges SunGard's
                  copyright in AutoTrust and related materials regardless of
                  whether copyright notice appears on AutoTrust and related
                  materials or whether it has been filed with the copyright
                  office.

            C.    User acknowledges that services and Information provided by
                  SunGard to User through AutoTrust, including but not limited
                  to the software and related documentation, the visual
                  expressions, screen formats, report formats and other design
                  features of AutoTrust, all ideas, methods, algorithms,
                  formulae and concepts used in developing and/or incorporated
                  into AutoTrust or related documentation, all future
                  modifications, releases, and enhancements of AutoTrust or
                  related documentation, all derivative works based upon any of
                  the foregoing, (referred to, collectively, as "Proprietary
                  Items") are trade secrets and proprietary property of SunGard,
                  having great commercial value to SunGard. All Proprietary
                  Items in User's possession, whether or not authorized, shall
                  be held in strict confidence by User, and User shall take all
                  steps reasonably necessary to preserve the confidentiality
                  thereof. User shall not, directly or indirectly, communicate,
                  publish, display, loan, give or otherwise disclose any
                  Proprietary Item to any person, or permit any person to have
                  access to or possession of any Proprietary Item. Therefore,
                  User acknowledges and agrees that SunGard shall have no
                  liability whatsoever for any program or system, or combination
                  of programs or systems, acquired or designed by or for the
                  User for use in conjunction with AutoTrust or the information
                  derived therefrom, and User agrees that it shall only use such
                  program or systems in conjunction with AutoTrust for its own
                  internal business purposes as is otherwise permitted by the
                  terms and conditions of this Agreement. Further, User
                  covenants and agrees

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                  that it shall not sell, distribute, market, or otherwise
                  provide to any other person or entity any program, system, or
                  combination of programs and systems acquired or designed by or
                  for User for use in whole or in part with AutoTrust.

            D.    User shall not, nor shall it permit any other person to,

                  1.   create or recreate the source code for AutoTrust, or
                       re-engineer, reverse engineer, decompile or disassemble
                       AutoTrust;
                  2.   refer to or otherwise use any Proprietary Item as part of
                       any effort to develop a program having any functional
                       attributes, visual expressions or other features similar
                       to those of AutoTrust or to compete with SunGard;
                  3.   remove, erase or tamper with any copyright or other
                       proprietary notice printed or stamped on, affixed to, or
                       encoded or recorded in any Proprietary Item, or fail to
                       preserve all copyright and other proprietary notices in
                       any copy of any Proprietary Item made by User;
                  4.   sell. market, license, sublicense, distribute or
                       otherwise grant to any person. including any outsourcer,
                       vendor, consultant or partner, any right to use any
                       Proprietary Item, whether on User's behalf or otherwise;
                  5.   use AutoTrust to conduct any type of service bureau or
                       time-sharing operation or to provide remote processing,
                       network processing, network telecommunications or similar
                       services to any person, whether on a fee basis or
                       otherwise; or
                  6.   attempt to do any of the foregoing.

            E.    User agrees to take all reasonable steps necessary to ensure
                  that none of its employees nor any related third party violate
                  the terms of this Agreement.

            F.    User acknowledges and agrees that a violation of any one or
                  more of the covenants or provisions contained in this section,
                  or a violation of any covenant or provision contained
                  elsewhere in this Agreement relating to restrictions on User's
                  use of or rights in AutoTrust and SunGard's proprietary rights
                  therein, may cause immediate and irreparable injury to SunGard
                  of a nature which may not be fully compensable by damages, and
                  User specifically acknowledges that in addition to any other
                  remedies at law or in equity, SunGard shall be entitled to
                  seek injunctive relief in the event of any such violation.

      2.    USER'S RESPONSIBILITIES. The User agrees to supply SunGard the
            following data in a format specified by SunGard. Forms for coding
            data will be provided by SunGard. Items A and B will be converted to
            magnetic tape from the forms by SunGard. Items C, D, and E will be
            posted directly by User.

            A.    An Account Data Form for each existing account.
            B.    An Asset Detail Form describing each asset.
            C.    Revisions in the account data as changes occur.
            D.    New account data as new accounts are added.
            E.    Every transaction made in the department during a given day
                  must be posted on the network specified (not supplied as a
                  part of this contract) by 6:00 p.m. (User's time) for
                  processing that night.
            F.    User agrees to provide computer equipment to run the System as
                  specified. Modifications are made to the System by SunGard
                  from time to time. User recognizes the need to maintain
                  computer equipment compatible with SunGard's enhancements and,
                  therefore, agrees to purchase new equipment as may reasonably
                  be required by SunGard.

      3.    SUNGARD'S RESPONSIBILITIES. SunGard will collect and process User's
            data on SunGard's AutoTrust software and will make best efforts to
            transmit the results to User before 8:00 a.m. the following day. In
            the event the day's data has not been completely posted by 6:00
            p.m., SunGard will have the right to process that day without User's
            daily input.

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            SunGard will supply prices to the Master Security File weekly and at
            month-end. Dividend information will be supplied daily by SunGard.
            Prices and dividend information will be obtained from a pricing
            service.

            A.    Daily Reports - will print automatically at User's location

                  1.    Control Report
                  2.    Edit Log
                  3.    Check Images to be Printed on User Stock at User
                        Location
                  4.    Automatic Cash Management, Demand Note Reports and
                        Maps (at extra cost)
                  5.    Dividend and Interest Maps
                  6.    Pending Mortgage Maps
                  7.    Pending Trades Transaction Report
                  8.    Pending Trades Summary Report
                  9.    Common Trust Fund Allocation Report
                  10.   Overnight Demand Reports - on User's Request
                        a.    Performance Calculation for an Account
                        b.    Transactions for Specific Security in an Account
                        c.    Tax Ledger for an Account

                  NOTES:


                  o     Items I and 2 appear daily
                  o     Items 3 through 8 are time and condition activated
                  o     Item 4 is available if cash management option is
                        selected
                  o     Items 9 and 10 are User input transaction activated

            B.    Inquiry Reports - Available through screen inquiry from
                  Master Files at User location. May
                  be printed as needed.

                  1.    Account Synoptic Report
                  2.    Asset Review
                  3.    Cash List/Account Listing
                  4.    Collateral Report
                  5.    CUSIP Listing
                  6.    Daily Investment and Cash Report
                  7.    Daily Transaction Report
                  8.    Dividend/Interest Map Requests - Outstanding Map
                        Report
                  9.    Input Transaction Review
                  10.   Large Balance and Overdraft Report
                  11.   Master Security File Data/Owners of a Security
                  12.   Pending ACMS (Automatic Cash Management) Transactions
                  13.   Pending Checkwriting Transactions
                  14.   Pending Fee Report
                  15.   Security Position Listing
                  16.   Transaction Activity for an Account for History on
                        File in Edited or Unedited Style

                  NOTES:

                  o      Item 12 is available if cash management option is
                         selected

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<PAGE>
                  o      Items 13 and 14 are available daily on time and
                        condition basis

            C.    Monthly Reports
                  (printed in Charlotte and shipped to User - shipping costs
will be at User's expense)

                  Monthly reports, annual reports, and customer reports produced
                  by the AutoTrust System will be shipped within ten (10)
                  business days of User's release of month end work for
                  processing by SunGard.

                  1.    Portfolio Investment Review for each account
                  2.    Receipts and Disbursements Report for each account
                  3.    Monthly Sales and Purchases Report
                  4.    Trust Department Balance Sheet
                  5.    Trust Department Comparative Summary
                  6.    Annual Report of Trust Assets (Call Report)
                  7.    Brokerage Fee Report
                  8.    Pricing Report
                  9.    Security Master Maturities and Notices
                  10.   Active Dividend/interest Maps
                  11.   Account Master Summary
                  12.   Fee Reports
                  13.   Pending Account Action Planning
                  14.   Year-to-date Transactions by Type
                  15.   Performance Summary (at extra cost)
                  16.   Interim Market to Market Reporting (where required)

            D.    Annual Reports
                  (Shipped with monthly reports at fiscal year end of account)

                  1.    Tax Ledger
                  2.    Intangibles Tax Return Report (where required)
                  3.    Form 5500 Worksheet (where required) (at extra cost)

            E.    Customer Reports (Shipped with monthly reports on frequency
                  and interval as defined per each account)

                  1.    Asset Review (long and short forms)
                  2.    Interim Statement of Transactions
                  3.    Annual Statement of Transactions
                  4.    Fee Statement
                  5.    Capital Gains Report

The format of any of the reports specified above may be altered from time to
time by SunGard; however, no changes in functionality may be made without User's
consent.

      4.    COMPENSATION. SunGard shall charge for its regular services and the
            records and reports produced pursuant to this Agreement in
            accordance with the provisions of this paragraph 4, as the same may
            be adjusted from time to time pursuant to paragraph 6, below. User
            shall pay all such charges on or before the date which is ten (10)
            days from the date of the invoice mailed by SunGard. Any dispute as
            to the amounts of such charges shall be resolved as expediently as
            possible, but shall not excuse timely payment in full of all amounts
            set forth on the invoice.


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            A.    $700 per month base fee

            B.    Account Charges:

                        $4.50 per account or subaccount per month for 0 to 500
                        Accounts;

                        $3.75 per account or subaccount per month for 501 to
                        1,000 Accounts;

                        $3.00 per account or subaccount per month for 1,001 and
                        over.

            C.    Inactive Accounts - Each Regular Account will be charged, as
                  indicated in Paragraph B above, per month, for the first
                  twelve (12) months on the AutoTrust System. Each month
                  thereafter the account will be analyzed for the volume of
                  transactions in the account for the twelve (12) previous
                  months. If the transaction history count is less than
                  forty-nine (49) for the period, the charge for the month will
                  be $1.60. If the transaction history count is more than
                  forty-eight (48), the charge will be the Regular Account
                  charge.

            D.    IRA, KEOGH and SEP Accounts - Each IRA, KEOGH and SEP Account
                  will be charged $1.60 per month for the first twelve (12)
                  months on the AutoTrust System. Each month thereafter the
                  account will be analyzed for the volume of transactions on the
                  account for the twelve (12) previous months. If the
                  transaction history count is less than forty-nine (49) for the
                  period, the charge for the month will be $1.60. It the
                  transaction history count is more than forty-eight (48), the
                  charge will be $2.10 for the month.

            E.    Deleted Accounts - Any account may be flagged for deletion by
                  the User and retained by the AutoTrust System for year-end
                  1099 and/or 5498 reporting. The charge for each deleted
                  account retained for 1099 and/or 5498 reporting will be $1.10
                  per month until permanently deleted by the User.

            F.    Security Pricing Options:
                  User agrees to pay to SunGard the following rates for each
                  security priced, subject to a $100.00 per month minimum:

                        TYPE OF SECURITY                   PRICE PER SECURITY
                        ----------------                   ------------------
                        Common Stocks                            $ 0.25
                        Preferred Stocks                         $ 0.25
                        Warrant or Right                         $ 0.25
                        Certificates                             $ 0.25
                        Convertible Preferred                    $ 0.25
                        Mutual or Investment Funds               $ 0.25
                        Unit Investment Trusts                   $ 0.25
                        Treasuries                               $ 0.25
                        Indices                                  $ 0.25
                        Options                                  $ 0.25
                        Convertible Bonds                        $ 0.60
                        Medium Term Notes                        $ 0.60
                        Corporate Bonds                          $ 0.60
                        American Depository Receipts             $ 0.60
                        Zero Coupon Bonds                        $ 0.60
                        Agency Discount Notes                    $ 0.60
                        Municipals                               $ 0.50
                        Mortgage Backed Securities               $ 0.90
                        Collateralized Mortgage Obligations      $10.00
                        Foreign Securities                       $15.00




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<PAGE>
                  All securities shall be priced daily. User acknowledges that
                  it will be responsible for the completion of additional
                  security coding necessary for the pricing of Foreign
                  Securities.

            G.    Customer Reports indicated in Paragraph 3, Section E above
                  will be laser printed with client User's logo on special stock
                  and will be burst, trimmed and stapled and billed at eleven
                  cents ($0.11) per page produced.

            H.    If elected by User, two copies of microfiche at $1.50 per
                  sheet will be provided at each month end which will include
                  copies of all month-end work printed by SunGard. Additional
                  copies will be available on User's request at $0.50 per
                  sheet.

            I.    If elected by User, one CD/ROM disc will be provided at each
                  month-end which will include copies of all month-end work
                  printed by SunGard at a cost of $.01 per image, with a $50.00
                  minimum charge. Additional copies will be available on User's
                  request at $50.00 per disc.

            J.    The service (license) fees, expense reimbursements and other
                  charges payable by User to SunGard under this Agreement do not
                  include any federal, state or local sales, use, excise,
                  property or other taxes which may be assessed or imposed in
                  connection with this Agreement or upon the services or
                  products provided under this Agreement. User will promptly pay
                  all such taxes which may become due (and any interest and
                  penalties thereon), excluding only taxes based upon SunGard's
                  net income, regardless of which party may be the subject of
                  any assessment for any such taxes. SunGard shall be under no
                  obligation to contest any assessment for any such taxes.

The actual number of User's accounts and assets will be used as the basis for
invoicing. Monthly billing %Will begin on the first month end after the Users
specified Conversion Date. In the event the Conversion Date specified is not a
month end. the first month's billing will be prorated to cover that period of
the month from the specified Conversion Date to month end.

      5.    ADDITIONAL CHARGES. Charges in excess of the amounts set forth above
            will be paid by the User within ten (1 0) days after billing as set
            forth below:

            A.    A training and installation fee of $9,000 will be charged.
                  One-half of the training and installation fee is due upon
                  execution of this Agreement. The remainder of this fee will be
                  billed to User immediately following the initial visit by the
                  representative of SunGard to begin the conversion process.

            B.    A software and program use license fee of $4,500 will be
                  charged. One-half of the software and program use license fee
                  is due upon execution of this Agreement. The remainder of this
                  fee will be billed to User immediately following the initial
                  visit by the representative of SunGard to begin the conversion
                  process. This charge covers use license as well as maintenance
                  for both microcomputer and mainframe programs for AutoTrust
                  for the initial and renewal terms of this Agreement as
                  described in Section 8.

            C.    A $10 per account data conversion fee will be billed after
                  conversion based on the actual number of accounts converted.

            D.    Extra charges as may be agreed upon between the parties will
                  be made for any changes in report format and for additional
                  reports and records as may be required by the User.

            E.    The current terminal operating system for User's
                  microcomputer(s) is either IBM's PC DOS, Microsoft's MS-DOS,
                  Windows 95 or Windows NT. Modifications are made to this
                  software

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<PAGE>
                  from time to time. User recognizes the need to maintain on the
                  microcomputer software compatible with SunGard's enhancements
                  and, therefore, agrees to either purchase new operating system
                  versions as specified and reasonably required by SunGard, or
                  accept delivery from SunGard of new versions of this software
                  as new versions are employed by SunGard. If the software is
                  delivered by SunGard to User, the cost will be added to the
                  then current monthly bill.

                  The current terminal networking system for User's
                  microcomputers is either Microsoft's Windows NT or Novell's
                  Netware. Modifications are made to this software from time to
                  time. User recognizes the need to maintain on the
                  microcomputers software compatible with SunGard's enhancements
                  and, therefore, agrees to either purchase new networking
                  system software versions as specified and reasonably required
                  by SunGard, or accept delivery of new versions of this
                  software as new versions are employed by SunGard. If the
                  software is delivered by SunGard to User, the cost will added
                  to the then current monthly bill.

      6.    COMPENSATION IN SUBSEQUENT YEARS. At any time after the end of the
            first twenty four (24) months of this Agreement, and upon thirty
            (30) days prior written notice to User, SunGard, at its sole option,
            may increase the rates and charges to its then regular schedule of
            prices for similar services. Without User's specific consent, the
            total compensation payable under paragraph 4, items A, B, C, D and E
            may not be increased as a result of changes in rates and charges by
            more than more than the Consumer Price Index as compiled by the U.
            S. Department of Labor Statistics for the immediately preceding
            calendar year.

      7.    CORRECTIONS. It is recognized by the parties that errors may occur.
            Minor errors made by the User that are correctable with journal
            entries can, when discovered, be corrected by User at no cost.
            Errors made by SunGard will be reprocessed within 24 hours after the
            discovery at no charge to the User, provided that the User notifies
            SunGard of such errors within 48 hours of processing. SunGard will
            have no further responsibilities or liabilities because of said
            errors once corrected, or if no notice is given within 48 hours of
            processing. Errors by the User which require technical intervention
            by SunGard personnel to correct will be charged to User. Charges for
            SunGard intervention will be based upon time and personnel required
            at SunGard's then prevailing rates.

      8.    TERM. The term of this Agreement shall begin on the date hereof,
            shall continue for five (5) years and six (6) months from the date
            of conversion to SunGard's system, and shall automatically renew
            itself for additional five (5) year terms thereafter, unless at
            least ninety (90) days prior to the end of the then original term or
            any renewal term, User gives SunGard, or SunGard gives User, written
            notice of its intent to cancel this Agreement at the end of the then
            current term. For purposes of this Agreement, the date of conversion
            shall be the date specified in the Conversion Certification to be
            executed by User at the time of conversion. Absent any such written
            certification, the date of conversion shall be conclusively presumed
            to be the first day of the first month in which SunGard provides
            services to User under this Agreement.

      9. ACCESS TO RECORDS AND INSPECTION.
            A.    SunGard will take such steps as may be necessary to maintain
                  the customer lists and account information of the User as
                  confidential information and agrees that it will not use this
                  information for its own benefit and will not willfully
                  disclose it to third parties either during the terms of this
                  Agreement or thereafter.

            B.    By User:

                  1.    It is understood by the parties that SunGard will
                        maintain printed copies of those reports prepared for
                        the User that SunGard deems necessary to support User.
                        Data


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                        necessary for the continuing processing of Users reports
                        shall also be contained in SunGard's files. Upon request
                        of User, SunGard will dump User's data to magnetic tape
                        for delivery to the User subject to the payment by User
                        of the prevailing price for magnetic tape and reels and
                        computer time and programming charges at the time when
                        User requests delivery of said tapes.

                  2.    Under appropriate arrangements with SunGard, User may be
                        able to access certain information and data provided to
                        SunGard by third-party pricing services used by SunGard
                        in conjunction with its services to User. The
                        information from such third- party pricing services is
                        copyrighted, trade secret, or proprietary information of
                        substantial value to these third-party pricing services
                        and their suppliers. If arrangements are made with
                        SunGard by which you are allowed to access this
                        information and data, you will be permitted to transfer
                        data to software packages solely for the purpose of word
                        processing, spreadsheets, and report writing. In no
                        event may any such data be transferred to software
                        packages used for investment analysis or any other
                        purpose without the express prior written consent of
                        such third-party pricing service.

            C.    By Pertinent Regulatory Agencies:

                  User and SunGard recognize the right of the following
                  organizations to examine and inspect the facilities of SunGard
                  and the right of these organizations to have access to the
                  data of those Users regulated by each organization:

                  1.    The Comptroller of the Currency and designated
                        representatives.
                  2.    The Federal Deposit Insurance Corporation and designated
                        representatives.
                  3.    The Federal Reserve Board and designated
                        representatives.
                  4.    The Office of Thrift Supervision for Federal Savings and
                        Loan Association Clients.
                  5.    Representatives of state regulatory agencies have the
                        right to inspection of SunGard and shall have access to
                        the data of those Users in
                        that state.

            D.    By Pertinent Auditors

                  User's internal auditors shall have the same rights of
                  inspection of SunGard's facilities and rights of access to
                  User's data as "Pertinent Regulatory Agencies." Requests for
                  Examiners Reports for external auditors will be accepted by
                  SunGard but shipped to the Users internal Audit Department.

            E.    Examiners Reports shall consist of the following list of
                  reports: ("MSI" refers to "Minimum Standards of Information')

                  o     List of Investments Maturing in 60 days
                  o     Trust Department Balance Sheet
                  o     Trust Department Annual Report
                  o     Brokerage Fee Report
                  o     Master Security File (Holders list of each asset per
                        MSI)
                  o     Comparative Summary Report for Trust Department
                  o     Balancing Totals Report (May reflect error condition)
                  o     Active Dividend/Interest Map Report (May reflect
                        error conditions)
                  o     Property Master Listing per MSI
                  o     Trial Balance per MSI
                  o     List of Account Assets by Trust per MSI


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<PAGE>
                        (Our Portfolio Investment Review)
                  NOTE:  Market Prices are prior month-end
                  o     Large Balance and Overdraft Report

            F.    If more than one set of Examiners Reports per year is provided
                  to User, there shall be an additional charge of $1.15 per
                  account.

      10.   BACK-UP PROVISIONS. SunGard will, at all times, maintain a back-up
            of the working data files of the User. These back-up files will be
            no more than one week old and will be stored in a specifically
            designed fire-proof vault in a location remote from the working
            files. SunGard will also retain the necessary input data from each
            User that would be required to update the User back-up file to
            "current" status.

      11.   RECOVERY SERVICES. SunGard will maintain a Recovery Services
            Agreement in the event an unplanned condition renders SunGard unable
            to use its data processing equipment. The Agreement will provide
            SunGard with access to computer and communication back up with
            necessary capability to allow SunGard to fulfill its obligations
            under this Agreement.

      12.   STANDARDS OF PERFORMANCE; CUSTOM, PRACTICE AND CONDUCT. SunGard
            shall endeavor to provide the same quality of services in processing
            the work of the User as provided by the User as of the date of this
            Agreement for its own fiduciary accounts. The parties specifically
            acknowledge that, as the services performed under this Agreement
            continue hereafter, the parties by custom, practice, or conduct may
            consent or agree to changes or deviations in the manner by which
            SunGard provides its services hereunder and the reports generated
            pursuant to this Agreement. The performance of services consistent
            with the prior custom, practice and conduct of the parties shall be
            conclusive evidence that the services provided hereunder are
            acceptable to User. However, delay in demand for payment of any
            amount due from User hereunder, and acceptance of any partial
            payment shall in no event constitute a waiver of or consent to
            nonpayment by User, and User shall remain liable for all
            compensation due hereunder for the services provided by SunGard.

      13.   DEFAULT BY USER. In the event User fails to perform any of its
            obligations under this Agreement, including but not limited to the
            failure to make any payment required under paragraph 4, and such
            failure continues for a period of ten (10) days from the date when
            performance should have been rendered, User shall be deemed to be in
            default of its obligations hereunder.

      14.   RIGHT TO SUSPEND PERFORMANCE WITHOUT TERMINATING. In the event of a
            default in any term of this Agreement by User, then, in addition to
            SunGard's right to terminate this Agreement and any other rights and
            remedies SunGard may have, SunGard may suspend performance of all
            services under this Agreement (and deny User access to the software
            and User's files) until the default is cured; in such event, User
            shall remain liable to SunGard for a monthly fee equal to the base
            monthly compensation plus the average of the monthly account service
            charges (excluding cash management fees, printing and similar extra
            charges) due for the last six months preceding default, until the
            default is cured.

      15.   RIGHT TO TERMINATE; DAMAGES UPON TERMINATION. In the event a default
            by User shall occur hereunder, SunGard may, at its option, terminate
            this Agreement. In addition to its right of termination, SunGard
            shall also have the right to recover from User damages, including
            interest and reasonable attorneys' fees, for such default. Inasmuch
            as a default by User will cause substantial damages to SunGard and
            because of the difficulty of estimating with exactness the damages
            which will result, User agrees to pay to SunGard, as liquidated
            damages for such default, an amount equal to the base monthly
            compensation plus the average of the monthly account service charges
            (excluding cash management fees, printing and similar extra charges)
            due for the last six months preceding default, multiplied by the
            number of months remaining in the then-existing term of this
            Agreement. The parties agree that


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<PAGE>
            this sum is a reasonable forecast of probable actual loss to SunGard
            and that this sum is agreed to as liquidated damages and not as a
            penalty. In addition, all software, equipment, manuals and other
            property of SunGard in Users possession shall be returned to SunGard
            upon demand, at User's expense. Notwithstanding the foregoing,
            nothing herein shall limit SunGard's remedies against User in the
            event of a breach by User of the protective covenants contained in
            this Agreement. In the event of such a breach by User, SunGard shall
            be entitled to pursue all legal and equitable remedies available to
            it, including injunctive relief.

      16.   ATTORNEY'S FEES; COSTS OF COLLECTION. In the event User defaults on
            its obligations hereunder and SunGard retains legal counsel,
            regardless of whether legal action is initiated, User shall repay
            SunGard all costs of collection, including reasonable attorneys'
            fees equal to fifteen percent (15%) of the balance due to SunGard,
            and other legal costs.

      17.   DEFAULT BY SUNGARD. In the event of errors made by SunGard in
            processing as provided herein, the provisions of Paragraph 7
            hereinabove shall control and shall be the exclusive remedy of User.
            In the event SunGard shall otherwise fail to perform any of its
            obligations under this Agreement, and such failure shall not be
            cured within thirty (30) days from the date written notice of such
            failure from User is received by SunGard, then and only in such
            event shall User be entitled to terminate this Agreement by written
            notice to SunGard, without further liability to User. Further, any
            liability of SunGard on account of such breach or default shall be
            limited to the actual amount of compensation paid by User to SunGard
            for the month(s) during which the default occurred and was not cured
            by SunGard.

      18.   INTEREST. Interest on all past due amounts under this Agreement
            shall accrue from the date due at an annual interest rate equal to
            the lesser of 18% per annum or the maximum interest rate permitted
            by law.

      19.   REMEDIES CUMULATIVE; NO WAIVER. No remedy of SunGard contained in
            this Agreement shall be considered exclusive of any other remedy;
            but rather, each remedy shall be distinct, separate and cumulative,
            and in addition to any other right or remedy provided in this
            Agreement or by applicable law. Each such right or remedy may be
            pursued singularly, successively or together in the sole discretion
            of SunGard and the failure to exercise any such right or remedy
            shall in no event be construed as a waiver or release of the same.
            SunGard may waive any right or remedy available to it, but any such
            waiver is not continuing, is limited to the specific act or omission
            waived and shall not affect any other rights or remedies.

      20.   BINDING EFFECT; ASSIGNABILITY. This Agreement shall be binding upon
            and shall inure to the benefit of the parties hereto and their
            respective heirs, representatives, successors and assigns. User may
            not assign, delegate or otherwise transfer any of its or his rights,
            duties or obligations hereunder or interest herein without the
            written consent of SunGard. In the event of any such assignment,
            delegation, or other transfer by User, whether or not SunGard has
            consented, the User shall remain liable for all amounts due
            hereunder and all other obligations of User pursuant to this
            Agreement, whether or not the assignor or transferee is or may also
            be liable to SunGard. SunGard may transfer or assign its rights,
            duties and obligations hereunder or interest herein to any entity
            related to SunGard by substantially similar ownership or control, or
            to a successor in interest pursuant to a merger, reorganization,
            stock sale, asset sale or other transaction, without the consent of
            User.

      21.   SEVERABILITY. If any provision or portion of this Agreement is
            declared or found by a court of competent jurisdiction to be
            unenforceable or null and void, such provision or portion thereof
            shall be deemed stricken and severed from this Agreement and the
            remaining provisions and portions hereof shall continue in full
            force and effect.


                                      10

<PAGE>
      22.   GOVERNING LAW. User acknowledges that this Agreement was delivered
            to and accepted by SunGard in the State of North Carolina. This
            Agreement shall be governed by and construed and enforced in
            accordance with the laws of the State of North Carolina.

      23.   JURISDICTION; VENUE. The parties hereto agree that, in the event
            either party elects to pursue legal action against the other for
            default of any obligation under this Agreement, such legal action
            shall be brought in Mecklenburg County, North Carolina, unless
            SunGard, at its sole option, elects to bring action in the county
            and state of residence of the User.

      24.   FORCE MAJEURE. SunGard shall not be liable for, nor shall SunGard be
            considered in breach of this Agreement due to, any failure to
            perform its obligations under this Agreement as a result of a cause
            beyond its control, including any act of God or a public enemy, act
            of any military, civil or regulatory authority, change in any law or
            regulation, fire, flood, earthquake, storm, or other like event,
            disruption or outage of communications, power or other utility,
            labor problem, unavailability of supplies, or any other cause,
            whether similar or dissimilar to any of the foregoing, which could
            not have been prevented by SunGard with reasonable care.

      25.   DISCLAIMER. EXCEPT FOR THE EXPRESS WARRANTIES SET FORTH IN THIS
            AGREEMENT, SUNGARD MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY
            NATURE, ORAL OR WRITTEN, EXPRESS OR IMPLIED, REGARDING THE SOFTWARE,
            THE DOCUMENTATION, THE SERVICES PROVIDED UNDER THIS AGREEMENT, OR
            ANY OTHER MATTER, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED
            WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.
            THIS AGREEMENT DOES NOT CONSTITUTE A JOINT ACCOUNT EITHER EXPRESSED
            OR IMPLIED BETWEEN SUNGARD AND USER. SUNGARD IS ACTING AS AN
            INDEPENDENT CONTRACTOR AND NOT AS AN AGENT OF THE USER'S
            ORGANIZATION. ANY LIABILITY OF SUNGARD TO USER, WHETHER FOR BREACH
            OF THIS AGREEMENT, NEGLIGENCE, OR OTHERWISE, SHALL BE SPECIFICALLY
            SUBJECT TO THE LIMITATIONS OF PARAGRAPH 17, AND IN NO EVENT SHALL
            ITS LIABILITY EXCEED THE ACTUAL AMOUNT OF PAYMENTS MADE BY USER TO
            SUNGARD DURING THE THEN-EXISTING TERM OF THIS AGREEMENT. UNDER NO
            CIRCUMSTANCES SHALL SUNGARD BE LIABLE TO USER OR ANY PERSON FOR LOST
            REVENUES, LOST PROFITS, LOSS OF BUSINESS OR ANY INDIRECT OR
            CONSEQUENTIAL DAMAGES OF ANY NATURE, WHETHER OR NOT FORESEEABLE.

            PURSUANT TO THIS AGREEMENT, SUNGARD MAY USE THIRD-PARTY PRICING
            SERVICES AND OTHER SERVICES OF THIRD-PARTIES TO ASSIST IT IN
            PROVIDING ITS SERVICES TO USER. NO SUCH THIRD-PARTY MAKES ANY
            WARRANTIES WHATSOEVER, WHETHER EXPRESS OR IMPLIED, TO THE USER AS TO
            FITNESS, MERCHANTABILITY OR ANY OTHER MATTER; NO SUCH THIRD-PARTY
            SHALL HAVE ANY LIABILITY TO THE USER OR ANY OTHER PERSON OR ENTITY
            IN ANY WAY ARISING OUT OF ANY ERROR OR OMISSION IN THE SERVICES
            PROVIDED BY SUCH THIRD-PARTY, OR A DELAY IN PROVIDING THOSE
            SERVICES. IN NO EVENT SHALL ANY THIRD-PARTY PROVIDING SERVICES TO
            SUNGARD BE LIABLE TO ANY USER OR OTHER PERSON OR ENTITY FOR ANY
            LOSS, INJURY, OR DAMAGES, INCLUDING INCIDENTAL OR CONSEQUENTIAL
            DAMAGES OR FOR ANYTHING BEYOND SUCH THIRD-PARTY'S REASONABLE
            CONTROL.

      26.   OTHER OBLIGATIONS. The obligations of SunGard under this Agreement,
            run only to User and not to its affiliates, its customers or any
            other persons. Under no circumstances shall any other person be
            considered a third party beneficiary of this Agreement or otherwise
            entitled to any rights or remedies under this Agreement.


                                      11

<PAGE>
      27.   ENTIRE AGREEMENT; MODIFICATION. This Agreement represents the entire
            understanding and agreement between the parties and no
            representations, undertakings or agreements have been made or relied
            upon in making this Agreement other than those specifically set
            forth herein. This Agreement can be modified only by a writing
            signed by both SunGard and User, except to the extent provided in
            paragraph 6 above. User acknowledges that this Agreement and any
            subsequent modification is not binding or enforceable until reviewed
            and executed by a representative located in SunGard's Charlotte,
            North Carolina office.

      28.   FINANCIAL INFORMATION. User may upon written request, receive the
            latest SunGard Third Party Review and Published Annual Financial
            Data.

WITNESS the due execution hereof the day and date first above written.


SUNGARD TRUST SYSTEMS, INC.               PINNACLE MANAGEMENT & TRUST COMPANY
CHARLOTTE, NC                             HOUSTON, TX


SIGNATURE: _________________________      SIGNATURE: _________________________

      PLEASE TYPE:                              PLEASE TYPE:

NAME: ROBERT F. CLARKE                    NAME: STEPHEN D. STRAKE

TITLE: President                          TITLE: President & Chief Operating
                                                 Officer

DATE: February 12, 1998                   DATE: 2/9/98

ATTEST:                                   ATTEST:

SIGNATURE: _________________________      SIGNATURE: _________________________

      PLEASE TYPE:                              PLEASE TYPE:

NAME: KENNETH BUCHANAN                    NAME: LINDA HALCOMB

TITLE: Vice President of Finance          TITLE: V.P. & Manager of Operations

DATE: February 12, 1998                   DATE: 2/9/98



                                      12

<PAGE>
                           SunGard Trust Systems Inc.
                               AutoTrust Addendum
                              FOR: ADDITIONAL TERMS
                                Dated: 2/09, 1998


This addendum (the "Addendum") will supplement certain terms and conditions of
the AutoTrust Agreement by and between SunGard Trust Systems Inc. ('SunGard')
and Pinnacle Management & Trust Company ("User"), dated 2/09/98, and any and all
modifications, amendments, supplements and addendums thereto (collectively the
"Agreement"). The terms and conditions of the Agreement are incorporated herein
by reference and, unless specifically noted herein, shall remain in full force
and effect, including terms that survive the termination of the Agreement.

NOW THEREFORE, in consideration of the premises and the mutual covenants herein
contained and intending to be legally bound, the parties agree as follows:

1.    The upgrade to SunGard's AutoTrust Windows(TM) version, ("Charlotte"),
      Phase I (Inquiry System) will be provided to User at no additional
      Software License or monthly cost. The User recognizes that use of
      Charlotte may require certain hardware upgrades and certain non-SunGard
      software in order to operate on User's network. The costs associated with
      these items are the User's responsibility.

      SunGard represents, and User acknowledges, that Charlotte Phase II will be
      made available to User at no additional one-time Software License Fee or
      per account processing fee. If on-site training or technical assistance is
      requested by User, SunGard's then-prevailing rate will apply (current rate
      - $600/day plus expenses).

2.    SunGard agrees to waive the AutoTrust base fee and per account charges
      through December 31, 1998. This waiver covers the items in Section 4 A, B,
      C, D and E only. Normal charges for other fees and all pass through items
      such as paper and form supplies, shipping, etc., apply.

3.    SunGard represents and warrants that as of January 1, 1999, AutoTrust will
      be designed to be used prior to, during and after the calendar year 2000
      A.D., and that AutoTrust will be designed to operate during each such time
      period without material error caused by date data. For the purposes of
      this section, "date data" shall mean any data or input which includes an
      indication of date.

      The foregoing warranty shall not apply (a) if User's operating system or
      any third-party software causes any of the date data errors, or (b) to
      custom software developed by SunGard or any third party. Notwithstanding
      anything herein to the contrary, SunGard's sole obligation and User's sole
      remedy with respect to the foregoing representation and warranty is for
      SunGard to use commercially reasonable efforts to correct any date data
      errors that may occur.

4.    (see below)
WITNESS the due execution hereof the day and date first above written.

SUNGARD TRUST SYSTEMS, INC.               PINNACLE MANAGEMENT & TRUST COMPANY
CHARLOTTE, NC                             HOUSTON, TX


SIGNATURE: _________________________      SIGNATURE: __________________________

      PLEASE TYPE:                              PLEASE TYPE:

NAME: ROBERT F. CLARKE                    NAME: STEPHEN D. STRAKE

TITLE: President                          TITLE: President & Chief Operating
                                                 Officer

DATE: February 12, 1998                   DATE: 2/9/98

4.    In the event Pinnacle Management & Trust Co. is acquired, Pinnacle
      Management & Trust Co., can exercise an option to terminate this
      Agreement, provided that at least ninety (90) days written notice given to
      SunGard and at least forty-two (42) months of billable processing has
      transpired.

                                      13

<PAGE>
                           SunGard Trust Systems Inc.
                               AutoTrust Addendum
                     FOR: PORTFOLIO REALIGNMENT SYSTEM (PRS)
                             Dated:    2/09, 1998
-------------------------------------------------------------------------------

This addendum (the "Addendum") will supplement certain terms and conditions of
the AutoTrust Agreement by and between SunGard Trust Systems Inc. ("SunGard")
and Pinnacle Management & Trust Company ("User"), dated -2/09/98, and any and
all modifications, amendments, supplements and addendums thereto (collectively
the "Agreement"). The terms and conditions of the Agreement are incorporated
herein by reference and, unless specifically noted herein, shall remain in full
force and effect, including terms that survive the termination of the Agreement.

SunGard has developed the Portfolio Realignment System ("PRS"), an AutoTrust
companion software module designed to perform automated realignment of selected
client accounts according to a model(s) representing a mix of mutual funds as
determined by User. User agrees to subscribe to PRS in accordance with the
additional terms and conditions set forth in this Addendum.

NOW THEREFORE, in consideration of the premises and the mutual covenants herein
contained and intending to be legally bound, the parties agree as follows:

      1.    COMPENSATION.  User will pay SunGard $0.00 per PRS account, per
            month, subject to a monthly minimum of $-O-.

      2.    DELIVERY. SunGard will deliver PRS within thirty (30) days after
            receipt of this Addendum properly executed by User. Instructions
            will be included in the Operations Manual to allow User to utilize
            PRS.

WITNESS the due execution hereof the day and date first above written.

SUNGARD TRUST SYSTEMS, INC.               PINNACLE MANAGEMENT & TRUST COMPANY
CHARLOTTE, NC                             HOUSTON, TX


SIGNATURE: _________________________      SIGNATURE: __________________________

      PLEASE TYPE:                              PLEASE TYPE:

NAME: ROBERT F. CLARKE                    NAME: STEPHEN D. STRAKE

TITLE: President                          TITLE: President & Chief Operating
                                                 Officer

DATE: February 12, 1998                   DATE: 2/9/98




                                      14
<PAGE>
                           SunGard Trust Systems Inc.
                               AutoTrust Addendum
                        FOR: PORTFOLIO ACCOUNT LINK (PAL)
                             Dated: February 9, 1998
--------------------------------------------------------------------------------

This addendum (the "Addendum") will supplement certain terms and conditions of
the AutoTrust Agreement by and between SunGard Trust Systems Inc. ("SunGard")
and Pinnacle Management & Trust Company ("User"), dated 2/09/98, and any and all
modifications, amendments, supplements and addendums thereto (collectively the
"Agreement"). The terms and conditions of the Agreement are incorporated herein
by reference and, unless specifically noted herein, shall remain in full force
and effect, including terms that survive the termination of the Agreement.

NOW THEREFORE, in consideration of the premises set forth above, the mutual
covenants herein contained and good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, SunGard and User, intending
to be legally bound, do hereby agree as follows:

1.    User desires to subscribe to SunGard's Portfolio Account Link ('PAL'),
      which will allow User's customers to access their individual trust account
      information via the Internet.

2.    User acknowledges that any of its customers that desire to access their
      individual trust account information via the Internet must have Internet
      access.

3.    User agrees to acquire, install and maintain all telecommunications,
      system hardware, and software components deemed necessary by SunGard to
      facilitate the PAL requirements including, but not limited to, the
      installation and maintenance of a home page on the Internet.

4.    Commencement of PAL will be scheduled for a date deemed to be mutually
      convenient to User and SunGard's Client Support Department.

5.    User acknowledges that while SunGard shall use reasonable care to ensure
      that only authorized persons are able to access their individual trust
      account information, SunGard shall have no liability with respect to any
      performance problem, claim or other matter to the extent attributable to
      the unauthorized or improper use of PAL by User or its clients, or the
      unauthorized or improper access to any of User's trust account information
      by any third party, whether known or unknown.

6.    SunGard agrees to provide on-site and/or telephone technical support to
      User as requested for the installation and/or use of PAL. For such
      technical support, User agrees to pay SunGard its then prevailing rate
      and, in the case of on-site technical support, reasonable travel and
      related expenses while en-route to and from, and while working at User's
      site. It is expressly understood that User will be responsible for
      providing all technical support required by User's customers or by any
      other parties designated by User to utilize PAL.

7. For the use of PAL, User agrees to pay to SunGard the following:

            A.    A one-time fee of $2,500.00 to be paid upon execution of
                  this Addendum; and

            B.    A monthly fee equal to the following:

                  1.    If 200 or less of User's trust accounts are designated
                        by User for Internet access during any given month, then
                        the fee for that month shall be $250.00.

                  2.    If 201 or more of User's trust accounts are designated
                        by User for Internet access during any given month, then
                        the fee for that month shall be $250.00 plus $1.00 per
                        account for each of User's trust accounts over 200 that
                        are designated for Internet access.

      Billing for PAL will begin on the first day of the month following the
installation of PAL.


                                      15