AMENDMENT TO EQUITY LINE OF CREDIT AGREEMENT
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Amendment No. 1 to Equity Line of Credit Agreement
AMENDMENT TO EQUITY LINE OF CREDIT AGREEMENT
THIS AMENDMENT (the "Amendment") is made and entered into effective as of September , 2002 by and between CORNELL CAPITAL PARTNERS, LP, a Delaware limited partnership (the "Investor") and COMMUNICATION INTELLIGENCE CORP., a corporation organized and existing under the laws of the state of Delaware (the "Company").
WITNESSETH:
WHEREAS, the Investor and the Company entered into an Equity Line of Credit Agreement, wherein the Company shall issue and sell to the Investor, from time to time as provided therein, and the Investor shall purchase from the Company up to Fifteen Million Dollars ($15,000,000) of the Company's common stock, par value $0.01 per share (the "Common Stock"), a Registration Rights Agreement, Escrow Agreement and Placement Agent Agreement dated July 23, 2002 (collectively referred to as the "Transaction Documents"); and
WHEREAS, the parties desire to amend the terms of the Transaction Documents accordingly as set forth herein.
NOW, THEREFORE, in consideration of the promises and the mutual promises, conditions and covenants herein contained and in the Transaction Documents, and other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto agree as follows:
1. The Equity Line of Credit Agreement is hereby amended by deleting Section 1.17 in its entirety and inserting the following:
Section 1.17 "Market Price" shall mean the average of the four (4) lowest VWAPs of the Company's Common Stock during the Pricing Period.
2. The Equity Line of Credit Agreement is hereby amended by inserting the following:
Section 1.33 "VWAP" shall mean the Volume Weighted Average Price of the Common Stock as reported by Bloomberg, LP.
3. The Transaction Documents shall be amended where appropriate to reflect the changes made herein.
4. Except as set forth hereinabove, all other terms and provisions of the Transaction Documents shall remain in full force and effect.
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IN WITNESS WHEREOF the parties have hereunto set their hands and seals the day and year set forth above.
| COMPANY: COMMUNICATIONS INTELLIGENCE CORP. |
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| By: | |
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| Name: | ▇▇▇▇▇ ▇▇▇▇ | |||
| Title: | Chief Legal Officer | |||
| INVESTOR: CORNELL CAPITAL PARTNERS, LP |
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| By: | Yorkville Advisors, LLC | |||
| Its: | General Partner | |||
| By: | |
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| Name: | ▇▇▇▇ ▇▇▇▇▇▇ | |||
| Title: | Portfolio Manager | |||
Amendment No. 1 to Equity Line of Credit Agreement