Bank of America Guaranty Cancellation Letter to Tier Technologies, Inc.

Summary

Bank of America N.A. notifies Tier Technologies, Inc. that it is released from all obligations under a $1,000,000 limited guaranty originally executed in 1998 for a promissory note by James and Nancy Bildner. The letter confirms that the guaranty, along with any modifications, is now canceled and Tier Technologies, Inc. has no further liability related to this guaranty.

EX-10.76 4 dex1076.txt BANK OF AMERICA GUARANTY CANCELLATION Exhibit 10.76 [Bank of America Letterhead] March 7, 2001 Deanne Tully Tier Technologies, Inc. 1350 Treat Blvd., Ste. 250 Walnut Creek, CA 94596 Dear Ms. Tully, On December 22, 1998, Tier Technologies, Inc executed a $1,000,000 limited guaranty to NationsBank N.A. (and Bank of America N.A. as a successor party) for a Promissory Note executed by James and Nancy Bildner in favor of NationsBank N.A. The original of said limited guaranty accompanies this letter. As of the date of this letter, Bank of America hereby releases Tier Technologies, Inc. of any liability under the terms of the attached guaranty as well as any and all subsequent modifications. The attached guaranty is hereby canceled. Please feel free to call me with any questions. /s/ Frank Drury Frank Drury Senior Vice President Bank of America N.A.