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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)
BOTTOMLINE TECHNOLOGIES (DE), INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.001 PER SHARE
(Title of Class of Securities)
101388106
(CUSIP Number)
THOMAS J. MURPHY
C/O GENERAL ATLANTIC SERVICE CORPORATION
3 PICKWICK PLAZA
GREENWICH, CONNECTICUT 06830
TEL. NO.: (203) 629-8600
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
MARCH 20, 2003
(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 1(f) or 1(g), check the following box |_|.
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-1(a) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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101388106 Page 2 of 15
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Atlantic Partners, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES ------------------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING
PERSON 3,156,700
WITH ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,156,700
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,156,700
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.9
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14 TYPE OF REPORTING PERSON
OO
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101388106 Page 3 of 15
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Atlantic Partners 74 L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES ------------------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING
PERSON 3,156,700
WITH ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,156,700
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,156,700
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
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101388106 Page 4 of 15
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GapStar, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES ------------------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING
PERSON 3,156,700
WITH ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,156,700
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,156,700
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
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101388106 Page 5 of 15
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GAP Coinvestment Partners II, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES ------------------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING
PERSON 3,156,700
WITH ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,156,700
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,156,700
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
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101388106 Page 6 of 15
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GAPCO GmbH & Co. KG
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Germany
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES ------------------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING
PERSON 3,156,700
WITH ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,156,700
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,156,700
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
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101388106 Page 7 of 15
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GAPCO Management GmbH
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Germany
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES ------------------------------------------------
BENEFICIALLY OWNED BY EACH 8 SHARED VOTING POWER
REPORTING
PERSON 3,156,700
WITH ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,156,700
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,156,700
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.9%
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14 TYPE OF REPORTING PERSON
CO
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101388106 Page 8 of 15
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ITEM 1. SECURITY AND ISSUER.
This Amendment No. 2 ("Amendment No. 2") to Schedule 13D is filed by
the undersigned to amend and supplement the Schedule 13D, dated January 17,
2002, and Amendment No.1 thereto, dated March 14, 2003 ("Amendment No. 1"), with
respect to the shares of Common Stock, par value $0.001 per share (the "Common
Stock"), of Bottomline Technologies (de), Inc., a Delaware corporation (the
"Company"). The address of the principal executive office of the Company is 325
Corporate Drive, Portsmouth, New Hampshire 03801.
ITEM 2. IDENTITY AND BACKGROUND.
Unchanged.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 is hereby amended by inserting the following at the end thereof:
This Amendment No. 2 is being filed as a result of the execution of a
Stock Purchase Agreement, dated March 20, 2003 (the "Stock Purchase Agreement"),
among the Company, GAP 74, GapStar, GAPCO II and KG (GAP 74, GapStar, GAPCO II
and KG are hereinafter referred to as the "Purchasers") pursuant to which the
Company agreed to issue, and the Purchasers agreed to (i) purchase, an aggregate
of 270,000 shares of Common Stock for an aggregate purchase price of $1,387,800
and (ii) purchase, subject to the approval of The Nasdaq Stock Market, Inc. (the
"Nasdaq Approval"), a material condition to closing, an aggregate of 730,000
shares of Common Stock for an aggregate purchase price of $3,752,200. See Item 6
for an additional description of the Stock Purchase Agreement. All of the funds
were obtained from contributions from partners of GAP 74, GAPCO II and KG, and
available capital of GapStar.
ITEM 4. PURPOSE OF TRANSACTION.
Unchanged.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby amended and restated as follows:
(a) As of the date hereof, GAP, GAP 74, GapStar, GAPCO II, KG and
GmbH Management each own of record no shares of Common Stock, 2,595,702 shares
of Common Stock, 202,631 shares of Common Stock, 354,328 shares of Common Stock,
4,039 shares of Common Stock and no shares of Common Stock, respectively, 0.0%,
16.4%, 1.3%, 2.2%, 0.0% and 0.0%, respectively, of the Company's issued and
outstanding shares of Common Stock. By virtue of the fact that (i) the GAP
Managing Members (other than Mr. Esser) are also the general partners authorized
and empowered to vote and dispose of the securities held by GAPCO II, (ii) GAP
is the general partner of GAP 74 and the sole member of GapStar and (iii) the
GAP Managing Members are authorized and empowered to vote and dispose of the
securities held by KG, the Reporting Persons may be deemed to share voting power
and the power to direct the disposition of the shares of Common Stock, which
each owns of record. As of the date hereof, each of the Reporting Persons may be
deemed to own beneficially an aggregate of 3,156,700 shares of Common Stock, or
19.9% of the Company's issued and outstanding shares of Common Stock.
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101388106 Page 9 of 15
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(b) Each of the Reporting Persons has the shared power to direct
the vote and the shared power to direct the disposition of the 3,156,700 shares
of Common Stock that may be deemed to be owned beneficially by each of them.
(c) Except as set forth herein, to the knowledge of the Reporting
Persons with respect to the persons named in response to paragraph (a), none of
the persons named in response to paragraph (a) has effected any transactions in
shares of Common Stock since the filing of Amendment No. 1.
(d) No person other than the persons listed is known to have the
right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, any securities owned by any member of the group.
(e) Not Applicable.
ITEM 6. CONTRACT, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIP WITH RESPECT
TO THE ISSUER.
Item 6 is hereby amended by inserting the following at the end thereof:
As described in Item 3 above, on March 20, 2003, the Purchasers entered
into the Stock Purchase Agreement with the Company pursuant to which the
Purchasers agreed to (i) purchase an aggregate of 270,000 shares of Common Stock
for an aggregate purchase price of $1,387,800 and (ii) purchase, subject to
obtaining the Nasdaq Approval, an aggregate of 730,000 shares of Common Stock
(the "Additional Purchased Shares") for an aggregate purchase price of
$3,752,200 (the foregoing clause (ii), the "Second Tranche"). The Nasdaq
Approval is a material condition to closing the Second Tranche.
If the Nasdaq Approval is obtained, then from the closing date of the
Second Tranche (the "Additional Closing") and until such time as the Purchasers
and their affiliates own in the aggregate less than 20% of the outstanding
Common Stock of the Company, each Purchaser grants to, and appoints, the
Company, as its proxy and attorney-in-fact, for and in its name, place and
stead, to vote such number of Additional Purchased Shares which, if aggregated
with all other shares of Common Stock owned by the Purchasers and their
affiliates, would result in the ownership by the Purchasers and their affiliates
of 20% or more of the outstanding Common Stock, at any meeting of the
stockholders of the Company, however called, and in any action by written
consent of the stockholders of the Company.
In addition, if the Additional Closing is consummated, then prior to
its next annual meeting of stockholders, the Company agreed to prepare and file
with the Securities and Exchange Commission a proxy statement of the Company
relating to such annual meeting that will include, among other things, the
solicitation of the Company's stockholders for the ratification of the issuance
and sale of the Additional Purchased Shares to the Purchasers (the "Proxy
Statement"). The Proxy Statement will include the unconditional recommendation
of the Board of Directors of the Company to the stockholders of the Company that
they vote in favor of the ratification of the issuance of Additional Purchased
Shares.
The foregoing proxy automatically terminates upon the earlier of (i)
the Purchasers and their affiliates owning in the aggregate less than 20% of the
outstanding Common Stock of the Company or (ii) the ratification of the issuance
and sale of the Additional Purchased Shares at the annual meeting of
stockholders of the Company as described above.
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101388106 Page 10 of 15
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If the Nasdaq Approval is not obtained on or prior to April 11, 2003,
or such other date agreed upon by the Company and the Purchasers, then the
obligations of the Company and the Purchasers to consummate the Second Tranche
shall terminate.
The foregoing summary of the Stock Purchase Agreement is qualified in
its entirety by reference to Exhibit 4.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
Exhibit 1: Agreement relating to the filing of joint acquisition
statements as required by Rule 13d-1(k)(1) under the
Securities Exchange Act of 1934, as amended.
Exhibit 2: Power of Attorney dated December 20, 2002 appointing
Thomas J. Murphy Attorney-in-Fact for GAP.
Exhibit 3: Power of Attorney dated December 20, 2002 appointing
Thomas J. Murphy Attorney-in-Fact for GAPCO II.
Exhibit 4: Stock Purchase Agreement, dated March 20, 2003, among
Bottomline Technologies (de), Inc., General Atlantic
Partners 74, L.P., GAP Coinvestment Partners II, L.P.,
GapStar, LLC and GAPCO GmbH & Co. KG.
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101388106 Page 11 of 15
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SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated March 21, 2003
GENERAL ATLANTIC PARTNERS, LLC
By: /s/ Thomas J. Murphy
----------------------------------
Name: Thomas J. Murphy
Title: Attorney-in-Fact
GENERAL ATLANTIC PARTNERS, 74 L.P.
By: General Atlantic Partners, LLC,
Its general partner
By: /s/ Thomas J. Murphy
----------------------------------
Name: Thomas J. Murphy
Title: Attorney-in-Fact
GAPSTAR, LLC
By: General Atlantic Partners, LLC,
Its sole member
By: /s/ Thomas J. Murphy
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Name: Thomas J. Murphy
Title: Attorney-in-Fact
GAP COINVESTMENT PARTNERS II, L.P.
By: /s/ Thomas J. Murphy
----------------------------------
Name: Thomas J. Murphy
Title: Attorney-in-Fact
GAPCO GMBH & CO. KG
By: GAPCO Management GmbH
Its general partner
By: /s/ Matthew Nimetz
----------------------------------
Name: Matthew Nimetz
Title: Managing Director
GAPCO MANAGEMENT GMBH
By: /s/ Matthew Nimetz
----------------------------------
Name: Matthew Nimetz
Title: Managing Director
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101388106 Page 12 of 15
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EXHIBIT 1
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JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13D-1(k)(1)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13D is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13D shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him, her or it contained herein, but
shall not be responsible for the completeness and accuracy of the information
concerning the other entities or persons, except to the extent that he, she or
it knows or has reason to believe that such information is accurate.
Dated March 21, 2003
GENERAL ATLANTIC PARTNERS, LLC
By: /s/ Thomas J. Murphy
--------------------------------
Name: Thomas J. Murphy
Title: Attorney-in-Fact
GENERAL ATLANTIC PARTNERS, 74 L.P.
By: General Atlantic Partners, LLC,
Its general partner
By: /s/ Thomas J. Murphy
--------------------------------
Name: Thomas J. Murphy
Title: Attorney-in-Fact
GAPSTAR, LLC
By: General Atlantic Partners, LLC,
Its sole member
By: /s/ Thomas J. Murphy
--------------------------------
Name: Thomas J. Murphy
Title: Attorney-in-Fact
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101388106 Page 13 of 15
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GAP COINVESTMENT PARTNERS II, L.P.
By: /s/ Thomas J. Murphy
--------------------------------
Name: Thomas J. Murphy
Title: Attorney-in-Fact
GAPCO GMBH & CO. KG
By: GAPCO Management GmbH
Its general partner
By: /s/ Matthew Nimetz
--------------------------------
Name: Matthew Nimetz
Title: Managing Director
GAPCO MANAGEMENT GMBH
By: /s/ Matthew Nimetz
--------------------------------
Name: Matthew Nimetz
Title: Managing Director
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101388106 Page 14 of 15
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EXHIBIT 2
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GENERAL ATLANTIC PARTNERS, LLC
3 Pickwick Plaza
Greenwich, CT 06830
December 20, 2002
POWER OF ATTORNEY
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The undersigned, General Atlantic Partners, LLC, a Delaware limited
liability company, with its principal office at 3 Pickwick Plaza, Greenwich,
Connecticut, United States of America (the "Limited Liability Company"), by its
Executive Managing Member, Steven A. Denning, a U.S. citizen, of full legal age,
hereby constitutes and appoints Thomas J. Murphy, a U.S. citizen, of full legal
age, its true and lawful attorney-in-fact and agent, in any and all capacities,
to execute and deliver any and all documents and instruments and to make any
governmental filings on behalf of the Limited Liability Company as fully to all
intents and purposes as a Managing Member of the Limited Liability Company might
or could do in person, hereby ratifying and confirming all that said
attorney-in-fact may lawfully do or cause to be done. This power of attorney
shall expire on January 1, 2004.
GENERAL ATLANTIC PARTNERS, LLC
By: /s/ Steven A. Denning
---------------------------------
Name: Steven A. Denning
Title: Executive Managing Member
STATE OF CONNECTICUT )
: ss.
COUNTY OF FAIRFIELD )
On the 20th day of December 2002, before me personally came Steven A.
Denning, to me known, and known to me to be the individual described in, and who
executed the foregoing document, and he acknowledged to me that he executed the
same.
/s/ Natalie J. Wagner
----------------------------------
Notary Public
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101388106 Page 15 of 15
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EXHIBIT 3
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GAP COINVESTMENT PARTNERS II, L.P.
3 Pickwick Plaza
Greenwich, CT 06830
December 20, 2002
POWER OF ATTORNEY
-----------------
The undersigned, GAP Coinvestment Partners II, L.P., a
Delaware limited partnership, with its principal office at 3 Pickwick Plaza,
Greenwich, Connecticut, United States of America (the "Limited Liability
Company"), by its Managing General Partner, Steven A. Denning, a U.S. citizen,
of full legal age, hereby constitutes and appoints Thomas J. Murphy, a U.S.
citizen, of full legal age, its true and lawful attorney-in-fact and agent, in
any and all capacities, to execute and deliver any and all documents and
instruments and to make any governmental filings on behalf of the Limited
Liability Company as fully to all intents and purposes as a Managing Member of
the Limited Liability Company might or could do in person, hereby ratifying and
confirming all that said attorney-in-fact may lawfully do or cause to be done.
This power of attorney shall expire on January 1, 2004.
GAP COINVESTMENT PARTNERS II, L.P.
By: /s/ Steven A. Denning
---------------------------------
Name: Steven A. Denning
Title: Managing General Partner
STATE OF CONNECTICUT )
: ss.
COUNTY OF FAIRFIELD )
On the 20th day of December 2002, before me personally came Steven A.
Denning, to me known, and known to me to be the individual described in, and who
executed the foregoing document, and he acknowledged to me that he executed the
same.
/s/ Natalie J. Wagner
--------------------------------
Notary Public