PUT OPTION AGREEMENT
This Put Option Agreement is entered into this 4th day of June, 1997, to be effective as of the 1st day of June,
1997 ("Agreement") is between Billing Information Concepts Corp., a Delaware corporation ("BICC"), and
Michael A. Harrelson ("Shareholder"). Capitalized terms used herein but not defined herein have the meanings
ascribed thereto in the Plan of Merger and Acquisition Agreement, dated effective June 1, 1997 ("Merger
Agreement"), entered into by BICC, CRM Acquisition Corp., Shareholder and Computer Resources
Management, Inc. ("Seller").
WHEREAS, BICC, CRM Acquisition Corp., Seller and Shareholder have entered into the Merger Agreement
pursuant to which Seller is to be merged into CRM Acquisition Corp. in exchange for, in part, 325,000 shares
(the "Shares") of common stock, $.01 par value, of BICC ("BICC Common Stock").
WHEREAS, as part of the consideration for entering into the Merger Agreement, BICC agreed to grant certain
rights to Shareholder pursuant to this Agreement;
NOW, THEREFORE, in consideration of the mutual covenants, terms, and conditions contained herein and in
the Merger Agreement, the parties hereto agree as follows:
1. BICC hereby grants to Shareholder an option to sell to BICC, and BICC is obligated to purchase from
Shareholder under such option (the "Put Option"), any of the Shares in consideration of a cash payment of
$26.00 per share (the "Put Price"), in accordance with the terms of this Agreement. In the event of a stock
dividend or other distribution to the holders of BICC Common Stock, stock split, recapitalization, combination,
merger, consolidation or other similar change in capitalization, the Put Price shall be appropriately reduced or
increased, as applicable, to reflect such event.
2. The Put Option shall be available for only a single exercise during only one Put Option Period (as hereinafter
3. In the event the Registration Statement is not declared effective by the SEC on or before November 3, 1997