EXHIBIT 10.44
AMENDMENT 6
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TO
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CONSULTING AGREEMENT
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The following sets forth the terms of "Amendment 6" to the Consulting Agreement
between OSPREY PARTNERS (aka/ Xxxxxxx X. Xxxxxxxx), 000 Xxxxxxxxx Xxxxx,
Xxxxxxx, XX 00000 ("Osprey") by SEDONA CORPORATION (the "Company").
It is hereby agreed pursuant to this Amendment 6 to the Consulting Agreement,
for the period from January 1, 2003 through December 31, 2003, that in
consideration of Osprey's continued services on the Company's behalf which will
include Mulshine's time and efforts relating to the work performed in regard to
his Corporate Secretary responsibilities, his investor relations activities, and
his general consulting support of the Company for 2003, Osprey's compensation
for services shall be as follows:
a) The Company shall pay Osprey a monthly consulting fee in the amount of
$10,000, with $3,500 to be due and payable in cash on the 1st day of
January 2003, and on the 1st day of each month thereafter, and $6,500
to be paid in shares of the Company's Common Stock, on the 1st day of
January 2003 and on the 1st day of each month thereafter, with the
value of the shares to be computed by taking the 5-day average closing
price of the stock on the last five (5) trading days of the prior
month. These shares are to be issued free of restrictive legend
pursuant to certain provisions of the SEDONA Corporation "2000
Incentive Stock Option Plan" (the "Plan") and Section 6(f) of that Plan
pertaining to "Bonus Stock and Awards in Lieu of Obligations".
b) Osprey hereby agrees that for each share of Common Stock issued on a
monthly basis under this Agreement, Osprey will forfeit a share of
Common Stock underlying the Warrants held by Osprey (See "Exhibit 1"
attached), starting from the highest exercise price Warrants, and
working down the list of Warrants, starting from WC0137A.
c) The Company agrees that all cash payments to Osprey to be made to the
account designated by Osprey via Wire Transfer, which fees shall be
paid by Osprey, on the date such funds are due and payable; and
d) This agreement is approved with the understanding that it is cancelable
by either party upon 30 days written notice.
ACCEPTED AND AGREED TO:
OSPREY PARTNERS SEDONA CORPORATION
By: /s/ Xxxxxxx X. Xxxxxxxx By: /s/ Xxxxx Xxxxxx
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Xxxxxxx X. Xxxxxxxx Xxxxx X. Xxxxxx
Date: 02.04.03 Date: 02.04.03
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