1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1) *
CheckFree Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
162812 10 1
------------------------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement |X|. (A fee
is not required only if the filing person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*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 the
disclosures provided in a prior cover page.
The information required in 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).
2
- ------------------------- ---------------------
CUSIP No. 162812 10 1 Page 2 of 10 Pages
--------- --- ----
- ------------------------- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Greylock Limited Partnership
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF - 0 -
SHARES -------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH - 0 -
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
- 0 -
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
- 0 -
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 0 -
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
3
- ------------------------- ---------------------
CUSIP No. 162812 10 1 Page 3 of 10 Pages
--------- --- ----
- ------------------------- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert P. Henderson
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF less than 5% of the shares of Common Stock
SHARES -------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH - 0 -
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
less than 5% of the shares of Common Stock
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
- 0 -
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
less than 5% of the shares of Common Stock
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
less than 5%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
4
- ------------------------- ---------------------
CUSIP No. 162812 10 1 Page 4 of 10 Pages
--------- --- ----
- ------------------------- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Henry F. McCance
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF - 145,136 -
SHARES -------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH - 0 -
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
- 145,136 -
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
- 0 -
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 145,136 -
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.3%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
5
Item 1.
(a) Name of Issuer:
--------------
CheckFree Corporation
(b) Address of Issuer's Principal Executive Office:
----------------------------------------------
4411 East Jones Bridge Road
Norcross, GA 30092
Item 2.
(a) Name of Person Filing:
---------------------
Greylock Limited Partnership ("GLP") and Messrs. Robert P.
Henderson and Henry F. McCance, the Co-Managing General
Partners of GLP (the "Co-Managing General Partners").
(b) Address of Principal Business Office or, if none, Residence:
-----------------------------------------------------------
The address of the reporting persons is:
One Federal Street
Boston, Massachusetts 02110
(c) Citizenship:
-----------
GLP is a limited partnership organized under the laws of the
State of Delaware. Each of the Co-Managing General Partners
is a citizen of the United States.
(d) Title of Class of Securities:
----------------------------
Common Stock, par value $.01 per share (the "Common Stock").
(e) CUSIP Number:
------------
162812 10 1
Item 3. Description of Person Filing:
----------------------------
Not applicable.
Page 5 of 10 pages
6
Item 4. Ownership(1):
------------
(a) Amount Beneficially Owned:
-------------------------
GLP does not beneficially own any shares of Common Stock.
Mr. Henderson may be deemed to beneficially own less than
five percent of the shares of Common Stock and Mr. McCance
may be deemed to beneficially own 145,136 shares of Common
Stock.
(b) Percent of Class:
----------------
GLP: 0%
Mr. Henderson less than 5%
Mr. McCance: 0.3%
(c) Number of shares as to which person has:
---------------------------------------
(i) sole voting power; (ii) shared voting power; (iii) sole
dispositive power; (iv) shared dispositive power:
GLP does not have any power to vote or dispose of any shares
of Common Stock. Mr. Henderson may be deemed to have sole
power to vote and dispose of less than five percent of the
shares of Common Stock and Mr. McCance may be deemed to have
sole power to vote and dispose of 145,136 shares of Common
Stock.
Item 5. Ownership of Five Percent or Less of a Class:
--------------------------------------------
This statement is being filed to report the fact that as of
the date hereof the reporting persons have ceased to be
beneficial owners of more than five percent of the class of
securities.
Item 6. Ownership of More than Five Percent on Behalf of Another
--------------------------------------------------------
Person:
------
Not applicable.
- --------
(1) As of December 31, 1996.
Page 6 of 10 pages
7
Item 7. Identification and Classification of the Subsidiary which
---------------------------------------------------------
Acquired the Security being reported on by the Parent
-----------------------------------------------------
Holding Company:
---------------
Not applicable.
Item 8. Identification and Classification of Members of the Group:
---------------------------------------------------------
Not applicable.
Item 9. Notice of Dissolution of Group:
------------------------------
Not applicable.
Item 10. Certification:
-------------
Not applicable.
Page 7 of 10 pages
8
SIGNATURE
After reasonable inquiry and to the best of the knowledge and belief of
each of the undersigned, each of the undersigned hereby certifies that the
information set forth in this statement is true, complete and correct.
DATED: February 12, 1997
GREYLOCK LIMITED PARTNERSHIP
By: /s/ Henry F. McCance
------------------------------
Henry F. McCance
Co-Managing General Partner
*
----------------------------------
Robert P. Henderson
/s/ Henry F. McCance
----------------------------------
Henry F. McCance
*By: /s/ Henry F. McCance
-----------------------------
Henry F. McCance
Attorney-in-fact
This Schedule 13G was executed by Henry F. McCance pursuant to Powers of
Attorney filed with the Security and Exchange Commission on February 13, 1994 in
connection with a Schedule 13G for Avid Technology, Inc., copies of which are
attached hereto as Exhibit 2, which Powers of Attorney are incorporated herein
by reference.
Page 8 of 10 pages
1
EXHIBIT 1
---------
AGREEMENT
Pursuant to Rule 13(d)-1(f)(1) under the Securities Exchange Act of 1934,
as amended, the undersigned hereby agree that only one statement containing the
information required by Schedule 13G need be filed with respect to the
ownership by each of the undersigned of the shares of Common Stock of
CheckFree Corporation.
Executed as a sealed instrument this 12th day of February, 1997
GREYLOCK LIMITED PARTNERSHIP
By: /s/ Henry F. McCance
-----------------------------
Henry F. McCance
Co-Managing General Partner
*
----------------------------------
Robert P. Henderson
/s/ Henry F. McCance
----------------------------------
Henry F. McCance
*By: /s/ Henry F. McCance
-----------------------------
Henry F. McCance
Attorney-in-fact
Page 9 of 10 pages
1
EXHIBIT 2
---------
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below hereby constitutes and appoints Robert P. Henderson and Henry F. McCance
and each of them, with full power to act without the other, his true and lawful
attorney-in-fact, with full power of substitution, to sign any and all
instruments, certificates, agreements and documents that may be necessary,
desirable or appropriate to be executed on behalf of himself as an individual or
in his capacity as a general partner of any partnership, pursuant to section 13
of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and any
and all regulations promulgated thereunder, and to file the same, with all
exhibits thereto, and any other documents in connection therewith, with the
Securities and Exchange Commission, and with any other entity when and if such
is mandated by the Exchange Act or by the By-laws of the National Association of
Securities Dealers, Inc., granting unto said attorney-in-fact full power and
authority to do and perform each and every act and thing necessary, desirable or
appropriate, fully to all intents and purposes as he might or could do in
person, thereby ratifying and confirming all that said attorney-in-fact, or his
substitutes, may lawfully do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the 8th
day of February, 1994.
/s/ Howard E. Cox, Jr. /s/ William W. Helman
- -------------------------- -----------------------------
Howard E. Cox, Jr. William W. Helman
/s/ Robert P. Henderson /s/ William S. Kaiser
- -------------------------- -----------------------------
Robert P. Henderson William S. Kaiser
/s/ Henry F. McCance /s/ Daniel S. Gregory
- -------------------------- -----------------------------
Henry F. McCance Daniel S. Gregory
/s/ David N. Strohm /s/ Charles P. Waite
- -------------------------- -----------------------------
David N. Strohm Charles P. Waite
/s/ Roger L. Evans
- --------------------------
Roger L. Evans
Page 10 of 10 pages
1
Exhibit 3
---------
Previously filed with the
Securities and Exchange
Commission on February 14,
1996.
--------------------------
OMB APPROVAL
OMB Number: 3235-0145
Expires: October 31, 1997
Estimated average burden
hours per response...14.90
--------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )*
----
CheckFree Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
162812 10 1
--------------------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement [X]. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*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 the
disclosures provided in a prior cover page.
The information required in 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).
Page 1 of 10 pages
2
- ------------------------- ---------------------
CUSIP No. 162812 10 1 13G Page 2 of 10 Pages
----------- --- ----
- ------------------------- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Greylock Limited Partnership
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
- 3,609,530 -
NUMBER OF -----------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY - 0 -
EACH -----------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH - 3,609,530 -
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
- 0 -
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 3,609,530 -
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11.0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
3
- ------------------------- ---------------------
CUSIP No. 162812 10 1 13G Page 3 of 10 Pages
----------- --- ----
- ------------------------- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert P. Henderson
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
- 0 -
NUMBER OF -----------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY - 3,609,530 -
EACH -----------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH - 0 -
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
- 0 -
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 3,609,530 -
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11.0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
4
- ------------------------- ---------------------
CUSIP No. 162812 10 1 13G Page 4 of 10 Pages
----------- --- ----
- ------------------------- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Henry F. McCance
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
- 0 -
NUMBER OF -----------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY - 3,609,530 -
EACH -----------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH - 0 -
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
- 0 -
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 3,609,530 -
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11.0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
5
Item 1.
(a) Name of Issuer:
--------------
CheckFree Corporation
(b) Address of Issuer's Principal Executive Office:
----------------------------------------------
8275 North High Street
Columbus, Ohio 43235
Item 2.
(a) Name of Person Filing:
---------------------
Greylock Limited Partnership ("GLP") (the "Partnership"), and
Messrs. Robert P. Henderson and Henry F. McCance, the Co-Managing
General Partners of GLP (the "Co-Managing General Partners").
(b) Address of Principal Business Office or, if none, Residence:
-----------------------------------------------------------
The address of the reporting persons is:
One Federal Street
Boston, Massachusetts 02110
(c) Citizenship:
-----------
GLP is a limited partnership organized under the laws of the
Commonwealth of Massachusetts. Each of the Co-Managing General
Partners is a citizen of the United States.
(d) Title of Class of Securities:
----------------------------
Common Stock, par value $.01 per share (the "Common Stock").
(e) CUSIP Number:
------------
162812 10 1
Item 3. Description of Person Filing:
----------------------------
Not applicable.
Page 5 of 10 pages
6
Item 4. Ownership(1):
------------
(a) Amount Beneficially Owned:
-------------------------
GLP is the record holder of 3,609,530 shares of Common Stock and
may be deemed to beneficially own 3,608,530 shares of Common
Stock. Each of Messrs. Henderson and McCance, as Co-Managing
General Partners of GLP, may be deemed to beneficially own
3,608,530 shares of Common Stock. The filing of this statement
shall not be construed as an admission that any of the reporting
persons are, for the purpose of Section 13(d) or 13(g) of the Act,
the beneficial owners of any securities covered by this statement.
(b) Percent of Class:
----------------
GLP: 11.0%
Mr. Henderson: 11.0%
Mr. McCance: 11.0%
(c) Number of shares as to which person has:
---------------------------------------
(i) sole voting power; (ii) shared voting power; (iii) sole
dispositive power; (iv) shared dispositive power:
GLP may be deemed to have sole power to vote and dispose of
817,453 shares of Common stock. Each of Messrs. Henderson and
McCance, as Co-Managing General Partners of GLP, may be deemed to
share the power to vote 3,609,530 shares of Common Stock.
Item 5. Ownership of Five Percent or Less of a Class:
--------------------------------------------
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
---------------------------------------------------------------
Not applicable.
- ----------------
(1) As of December 31, 1995.
Page 6 of 10 pages
7
Item 7. Identification and Classification of the Subsidiary Which Acquired the
----------------------------------------------------------------------
Security Being Reported on By the Parent Holding Company:
--------------------------------------------------------
Not applicable.
Item 8. Identification and Classification of Members of the Group:
---------------------------------------------------------
Not applicable.
Item 9. Notice of dissolution of Group:
------------------------------
Not applicable.
Item 10. Certification:
-------------
Not applicable.
Page 7 of 10 pages
8
SIGNATURE
After reasonable inquiry and to the best of the knowledge and belief of
each of the undersigned, each of the undersigned hereby certifies that the
information set forth in this statement is true, complete and correct.
DATED: February 13, 1996
GREYLOCK LIMITED PARTNERSHIP
By: /s/ Henry F. McCance
--------------------------------
Henry F. McCance
Co-Managing General Partner
*
------------------------------------
Robert P. Henderson
/s/ Henry F. McCance
------------------------------------
Henry F. McCance
*By: /s/ Henry F. McCance
-------------------------------
Henry F. McCance
Attorney-in-fact
This Schedule 13G was executed by Henry F. McCance pursuant to Powers
of Attorney filed with the Security and Exchange Commission on February 14, 1994
in connection with a Schedule 13G for Avid Technology, Inc., copies of which are
attached hereto as Exhibit 2, which Powers of Attorney are incorporated herein
by reference.
Page 8 of 10 pages
9
Exhibit 1
---------
AGREEMENT
Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934,
as amended, the undersigned hereby agree that only one statement containing the
information required by Schedule 13G need be filed with respect to the ownership
by each of the undersigned of the shares of Common Stock of CheckFree
Corporation.
EXECUTED as a sealed instrument this 13th day of February, 1996.
GREYLOCK CAPITAL LIMITED PARTNERSHIP
By: /s/ Henry F. McCance
--------------------------------
Henry F. McCance
Co-Managing General Partner
*
------------------------------------
Robert P. Henderson
/s/ Henry F. McCance
------------------------------------
Henry F. McCance
*By: /s/ Henry F. McCance
-------------------------------
Henry F. McCance
Attorney-in-fact
Page 9 of 10 pages
10
EXHIBIT 2
---------
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signatures
appears below hereby constitutes and appoints Robert P. Henderson and Henry F.
McCance and each of them, with full power to act without the other, his true and
lawful attorney-in-fact, with full power of substitution, to sign any and all
instruments, certificates, agreements and documents that may be necessary,
desirable or appropriate to be executed on behalf of himself as an individual or
in his capacity as a general partner of any partnership, pursuant to section 13
of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and any
and all regulations promulgated thereunder, and to file the same, with all
exhibits thereto, and any other documents in connection therewith, with the
Securities and Exchange Commission, and with any other entity when and if such
is mandated by the Exchange Act or by the By-laws of the National Association of
Securities Dealers, Inc., granting unto said attorney-in-fact full power and
authority to do and perform each and every act and thing necessary, desirable or
appropriate, fully to all intents and purposes as he might or could do in
person, thereby ratifying and confirming all that said attorney-in-fact, or his
substitutes, may lawfully do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
8th day of February, 1994.
/s/ Howard E. Cox, Jr. /s/ William W. Helman
- ------------------------------- -------------------------------
Howard E. Cox, Jr. William W. Helman
/s/ Robert P. Henderson /s/ William S. Kaiser
- ------------------------------- -------------------------------
Robert P. Henderson William S. Kaiser
/s/ Henry F. McCance /s/ Daniel S. Gregory
- ------------------------------- -------------------------------
Henry F. McCance Daniel S. Gregory
/s/ David N. Strohm /s/ Charles P. Waite
- ------------------------------- -------------------------------
David N. Strohm Charles P. Waite
/s/ Robert L. Evans
- -------------------------------
Robert L. Evans
Page 10 of 10 pages