Exhibit 10.1

 

COMPUTER SOFTWARE INNOVATIONS, INC.

1661 E. Main Street, Suite A

Easley, SC 29642

 

June 6, 2005

 

Barron Partners LP

730 Fifth Avenue, 9th Floor

New York, New York 10019

 

Attention: Mr. Andrew Barron Worden

 

  Re: Registration Rights Agreement dated February 10, 2005 by and between
Computer Software Innovations, Inc., a Delaware corporation (“CSI”) and Barron
Partners LP, a Delaware limited partnership (“Barron”)

 

Dear Mr. Worden:

 

This letter is being provided to you in connection with the above-referenced
Registration Rights Agreement (the “Agreement”) between Barron and CSI. The
Agreement relates to the transaction (the “Transaction”) in which Barron
purchased 7,217,736 shares of Series A convertible nonvoting preferred stock of
CSI (the “Preferred Stock”) and two warrants (the “Warrants”) to purchase
7,217,736 shares in the aggregate of the common stock of CSI. Under Section 2.2
of the Agreement, CSI agreed to use its best efforts to cause its registration
statement filed with the Securities and Exchange Commission (the “SEC”) on March
28, 2005 to be declared effective on or before June 11, 2005. Section 2.8
provides for liquidated damages to be paid by CSI to Barron in the event of our
failure to cause the registration statement to be declared effective as
required.

 

As we have discussed, it is in the mutual best interest of CSI and Barron to
amend the Transaction documents to address comments received from and
discussions with the SEC staff and to thereby avoid possible future delays and
additional costs. Accordingly, in order to provide adequate time to effectuate
such amendments, we respectfully request that Barron waive CSI’s current
obligation under Section 2.2 of the Agreement to cause the registration
statement to be declared effective by June 11, 2005, as well as the payment of
related liquidated damages under Section 2.8 with respect to any failure to
achieve effectiveness by such date. In consideration of this waiver, CSI agrees
with Barron that CSI shall be required to cause the registration statement to be
declared effective by July 11, 2005. This waiver shall not otherwise affect
Barron’s rights and CSI’s obligations under the Agreement, including the
utilization of CSI’s best efforts to cause the registration statement to be
declared effective with the SEC as soon as practicable and the payment of
liquidated damages under Section 2.8 with respect to any future breach of such
section.

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If the foregoing waiver is acceptable to Barron, please so indicate by signing
the attached duplicate original of this letter and returning it to me. Thank you
in advance for your cooperation and attention to this matter. Please call me if
you have any questions concerning the foregoing.

 

Yours very truly,

/s/ Nancy K. Hedrick

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Nancy K. Hedrick President and CEO

 

ACCEPTED AND AGREED TO

this      day of June, 2005.

 

BARRON PARTNERS LP

 

By:   Barron Capital Advisors LLC, its General Partner By:  

/s/ Andrew Barron Worden

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    Andrew Barron Worden, Managing Member     730 Fifth Avenue, 9th Floor    
New York, New York 10019