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EXHIBIT 10.24
November 30, 1998
Xxxxxxx Xxxxxxx
American Express Travel
Related Services Company, Inc.
000 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000
Re: Concur Technologies, Inc.
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Dear Xxxxxxx:
This letter serves as confirmation of the mutual understanding and
agreement of American Express Travel Related Services, Inc. ("ATRS") and Concur
Technologies, Inc. ("Concur") as to the following in connection with the
Standstill Agreement entered into between the parties as of August 10, 1998 (the
"Standstill Agreement") and what Warrant to Purchase Shares of Series E
Preferred Stock (the "Warrant") issued to ATRS in August 1998.
In consideration of Concur's rescission of the cancellation of twenty-five
percent (25%) of the shares for which the Warrant is exercisable in Tranche 2,
ATRS agrees to amendment of the Standstill Agreement to (i) extend the term of
the standstill from February 10, 2000 to April 10, 2000; and (ii) reduce the
Standstill Percentage to sixteen percent (16%) of the Company's Voting Stock.
Please confirm ATRS' agreement to the foregoing by causing this letter to
be signed by a duly authorized officer. I will then arrange for circulation of
an appropriate amendment to the Standstill Agreement.
Very truly yours,
CONCUR TECHNOLOGIES, INC.
By: /s/ S. XXXXXX XXXXX
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S. Xxxxxx Xxxxx, President and CEO
AGREED: /s/ XXXXXXX XXXXXXX
AMERICAN EXPRESS TRAVEL RELATED SERVICES, INC.
By: Xxxxxxx Xxxxxxx
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Its: Vice President
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