EXHIBIT 10.81

Confidential treatment has been requested for portions of this document. This
copy of the document filed as an Exhibit omits the confidential information
subject to the confidentiality request. Omissions are designated by three
asterisks (***). A complete version of this document has been filed separately
with the Securities and Exchange Commission.

     
KYOCERA MITA/ PEERLESS LSA #5
  CONFIDENTIAL

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LICENSED SOFTWARE ADDENDUM #5 TO MASTER
TECHNOLOGY LICENSE AGREEMENT DATED APRIL 1, 1997

This Licensed Software Addendum #5 (hereinafter this “LSA #5”) is entered into
as of February 17, 2004 (hereinafter the “Effective Date”) by and between
Kyocera Mita Corporation, a Japanese corporation, with offices at 2-28, 1-chome,
Tamatsukuri Chuo-ku, Osaka, 540-8585, Japan (hereinafter referred to as “KYOCERA
MITA”), and Peerless Systems Corporation, a Delaware corporation, with offices
at 2381 Rosecrans Ave, Suite 400, El Segundo, CA, 90245 (hereinafter referred to
as “PEERLESS”), each sometimes referred to as a “Party” and jointly as “Parties”
to this LSA #5.

This LSA #5 is subject to and incorporates the provisions of the Master
Technology License Agreement (hereinafter referred to as “MTLA”) dated April 1,
1997 entered between PEERLESS and Kyocera Corporation, and transferred to
KYOCERA MITA on April 1, 2002.

1.   DEFINITIONS

1.1 All capitalized terms used herein shall have the meaning specified in this
LSA #5 or, if not defined herein, then the meaning specified in the MTLA. For
terms that are defined in this Section 1 and in the MTLA, the definition
provided herein shall govern for all purposes hereof.

1.2 With respect to any hardware, “Derivative KYOCERA MITA Product” means a
KYOCERA MITA product incorporating PEERLESS Material and any other components
that shall be bundled with and be contained in a package with the KYOCERA MITA
product at the time of KYOCERA MITA’s shipment of that product to KYOCERA MITA’s
customer.

1.3 “Machine Executable Copy” includes anything designated as such under the
MTLA and, without limiting the foregoing, any object code, machine executable
version of any Derivative Work of any Current Release or Update Release licensed
to KYOCERA MITA under this LSA #5.

1.4 “SRP” is the suggested retail price in the United States of America. In the
event that a legal SRP cannot be established inside the United States, the SRP
of the Authorized KYOCERA MITA Device in Japan will be used. In the event that a
relevant SRP is Japanese, Yen shall be established in Japan, the SRP shall be
converted into U.S. dollars at TTM rate equal to the average exchange rates for
the appropriate currency issued by Mizuho Corporate Bank, Limited at the end of
the first and last days of the relevant quarterly accounting period (or the
first business day thereafter if such day is a Sunday or other non-business day.

1.5 “Derivative Work” means (i) for copyrightable or copyrighted material that
is based upon one or more preexisting works, such as a revision, modification,
translation, abridgment, condensation, expansion, or any other form in which
such preexisting works may be recast, transformed, or adapted; and (ii) for
patentable or patented material, any improvement thereon;

         

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Confidential treatment has been requested for portions of this document. This
copy of the document filed as an Exhibit omits the confidential information
subject to the confidentiality request. Omissions are designated by three
asterisks (***). A complete version of this document has been filed separately
with the Securities and Exchange Commission.

     
KYOCERA MITA/ PEERLESS LSA #5
  CONFIDENTIAL

--------------------------------------------------------------------------------

 

and (iii) for material which is protected by trade secret, any new material
derived from such existing trade secret material, including new material which
may be protected or protectable by copyright, patent and/or trade secret, and
that, if prepared without authorization of the owner of the copyright, patent
and trade secret in such preexisting work, would constitute an infringement. For
purposes hereof, a Derivative Work refers to Licensed Products as defined herein
and shall also include any compilation that incorporates such a preexisting
work.

2.   LICENSE

2.1   Object License Granted: Without limiting any of KYOCERA MITA’s rights
under the MTLA, and subject to the provisions of this LSA #5 as well as the
payment of all applicable License Fees as stated in Section 3.0 of this LSA #5
for the term of such license, PEERLESS hereby grants a non-transferable,
non-exclusive, worldwide license to KYOCERA MITA:       (1) to use, copy, make,
reproduce and manufacture the Authorized KYOCERA MITA Device containing Machine
Executable Copies of the Licensed Products;       (2) to sell and distribute the
Authorized KYOCERA MITA Device containing Machine Executable Copies of the
Licensed Products in any country of the world directly, through KYOCERA MITA
Distributors and/or Subsidiaries; or       (3) to sublicense to Subsidiaries the
rights to use, copy, make, reproduce and manufacture the Authorized KYOCERA MITA
Device containing Machine Executable Copies of the Licensed Products on behalf
of KYOCERA MITA.

  a.   Authorized KYOCERA MITA Device: KYOCERA MITA is authorized to use and
distribute the Licensed Product(s) in object code format only listed below in
the following Authorized KYOCERA MITA Devices:

  i.   KYOCERA MITA produced and branded monochrome or color laser printer
products with print resolution of 2400 dots per inch (dpi) or less; and KYOCERA
MITA produced and branded monochrome or color laser printer products with print
resolution of 2400 dots per inch (dpi) or less for an OEM customer.     ii.  
KYOCERA MITA produced and branded monochrome or color copier products; and,
KYOCERA MITA produced monochrome or color copier products for an OEM customer

2.2 Term And Termination: The term of the Object License or Source License shall
be contemporaneous with the term of the License under the MTLA. After
termination of the Object License or Source License, KYOCERA MITA may, in
addition to any rights granted under the MTLA, retain one (1) copy of the Source
Materials for the sole purpose of providing maintenance support or similar
services in connection with any Machine Executable Copies

         

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Confidential treatment has been requested for portions of this document. This
copy of the document filed as an Exhibit omits the confidential information
subject to the confidentiality request. Omissions are designated by three
asterisks (***). A complete version of this document has been filed separately
with the Securities and Exchange Commission.

     
KYOCERA MITA/ PEERLESS LSA #5
  CONFIDENTIAL

--------------------------------------------------------------------------------

 

distributed pursuant to the MTLA for a period of one (1) year after the date of
termination of the Object License or Source License unless a Default is deemed
to occur under Section 10.1(a) and Section 10.1(b) of the MTLA.

2.3 Deliverables — The Parties agree that PEERLESS has made and completed all
deliverables required by this LSA #5, and no further deliverables are required
under this LSA #5.

2.4 Licensed Products (As Delivered under LSA #1):

  1.   PEERLESSPrint®XL     2.   PEERLESSPrint®5C     3.   PEERLESSPageTM
Imaging Operating System

3.0 License Fees and Payments.

3.1 PER UNIT LICENSE FEES: For each Authorized KYOCERA MITA Device shipped
pursuant to this LSA #5, PEERLESS and KYOCERA MITA agree that there shall be a
non-refundable, non-transferable and non-creditable Per Unit License Fee due and
paid to PEERLESS. The amount of the Per Unit License Fees for each Authorized
KYOCERA MITA Device developed hereunder is shown below. The percentages in the
following tables are based on the Suggest Retail Price (“SRP”) of the product in
the United States.

3.2 Per Unit License Fees: The recurring Per Unit License Fee is the fee that
PEERLESS charges KYOCERA MITA for the right to use PEERLESS’ Licensed Products
in each Authorized KYOCERA MITA Device shipped by KYOCERA MITA is detailed
below.

      Product Description

--------------------------------------------------------------------------------

  Per Unit License Fee

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Authorized KYOCERA MITA Device (printer) Section 2.1 (3) (a) (i)
  *** of the SRP
Authorized KYOCERA MITA Device (copier) Section 2.1 (3) (a) (ii)
  *** of the SRP

3.3 BLOCK LICENSE.

3.3.1 Block License Grant. In lieu of paying the required Per Unit Royalty Fee
on an “as incurred” basis, PEERLESS has granted KYOCERA MITA a Block License
under which KYOCERA MITA may offset the Per Unit Royalties incurred by the
Authorized KYOCERA MITA Devices identified in Section 2.1 herein.

3.3.2 Block License Payment. PEERLESS has granted KYOCERA MITA a Block License
for PEERLESS Licensed Products contained in the Authorized KYOCERA MITA Devices.
This Block License will be granted for non-refundable, non-transferable and
non-creditable payment of *** dollars (U.S.$ ***).

         

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Confidential treatment has been requested for portions of this document. This
copy of the document filed as an Exhibit omits the confidential information
subject to the confidentiality request. Omissions are designated by three
asterisks (***). A complete version of this document has been filed separately
with the Securities and Exchange Commission.

     
KYOCERA MITA/ PEERLESS LSA #5
  CONFIDENTIAL

--------------------------------------------------------------------------------

 

3.3.3 Block License Terms and Conditions. The terms and conditions of the
PEERLESS granted Block License to KYOCERA MITA are as follows.

  a)   The utilization of the Block License shall apply to the use of all
PEERLESS Licensed Products named in this LSA #5 (as listed in Section 2.1
herein).     b)   For the distribution of the Authorized KYOCERA MITA Devices
named in this LSA #5, KYOCERA MITA may apply the reduced Per Unit License Fees
for each object code copy of the PEERLESS Licensed Product as set out below in
Section 3.3.4 herein.     c)   KYOCERA MITA will apply the above stated Per Unit
Recurring License Fee to the actual number of Authorized KYOCERA MITA Devices
shipped which contain the object code copies of the PEERLESS Licensed Products
and will thus calculate the equivalent earned Per Unit Recurring License Fee.  
  d)   The Per Unit Recurring License Fees stated in Section 3.3.4 below, shall
apply until the crediting of the equivalent earned recurring license fee equals
*** dollars (U.S.$ ***).     e)   Upon exhaustion of the *** dollars (U.S. $***)
Block License, the following actions may take place at KYOCERA MITA’s option:

  i)   KYOCERA MITA, at its sole discretion, may purchase additional Block
License(s) in the amount of *** dollars (U.S. $***) each under the same terms
and conditions as enumerated herein.     ii)   KYOCERA MITA, at its sole
discretion may decide not to purchase an additional Block License as set forth
in e) i) above; in which case, the recurring Per Unit License Fee for each
Authorized KYOCERA MITA Device named in this LSA #5 would revert to rate as
defined in Section 3.2 herein.

3.3.4 License Fees for Authorized KYOCERA MITA Devices authorized in this LSA #5
under this Block License:

      Product Description

--------------------------------------------------------------------------------

  Per Unit License Fee

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Authorized KYOCERA MITA Device (printer) Section 2.1 (3) (a) (i)
  *** of the SRP
Authorized KYOCERA MITA Device (copier) Section 2.1 (3) (a) (ii)
  *** of the SRP

3.4 Exclusion of Other Recurring License Fees. The Recurring License Fees
associated with fonts provided by Adobe Systems Incorporated are not included in
the Per Unit Recurring License Fees or Distribution Fee outlined above. Such
Recurring Fees, if applicable, must be negotiated by KYOCERA MITA with, and paid
directly to, PEERLESS. The Recurring License

         

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Confidential treatment has been requested for portions of this document. This
copy of the document filed as an Exhibit omits the confidential information
subject to the confidentiality request. Omissions are designated by three
asterisks (***). A complete version of this document has been filed separately
with the Securities and Exchange Commission.

     
KYOCERA MITA/ PEERLESS LSA #5
  CONFIDENTIAL

--------------------------------------------------------------------------------

 

Fees associated with fonts provided by Agfa Corporation or Bitstream Inc. are
not included in the Per Unit Recurring License Fees or Distribution Fee outlined
above. Such Recurring Fees, if applicable, must be negotiated by KYOCERA MITA
with, and paid directly to, the respective entity.

3.5 Royalty Payment. KYOCERA MITA shall pay royalties due hereunder in United
States Dollars.

4.   NOTICES

For the purpose of this LSA #5, the notices required are:

For:

PEERLESS PAGETM is a trademark of the PEERLESS Systems Corporation; and,

PEERLESSPrint®XL, PEERLESSPrint®5E and Memory Reduction Technology® are
registered trademarks PEERLESS Systems Corporation; and

COPYRIGHT© 2002 PEERLESS Systems Corporation

5.   ANNOUNCEMENTS

Pursuant to Paragraph 15.1 of the MTLA and in addition to the obligations set
out in Section 15 of the MTLA, the Parties’ obligations to disclose the use of
the Licensed Products in Marketing Literature under this LSA#5 are as follows:

5.1 Marketing Materials. All KYOCERA MITA marketing materials on the Authorized
KYOCERA MITA Device will refer to the Licensed Products by the PEERLESS trade
name when those Licensed Products are utilized in the Authorized KYOCERA MITA
Device, referred to or described in KYOCERA MITA’s marketing materials.

5.2 Press Releases. Once KYOCERA MITA has issued a public statement announcing
the Authorized KYOCERA MITA Device, PEERLESS may also disclose in any PEERLESS
advertisement or other promotional material naming KYOCERA MITA and the
technology licensed to KYOCERA MITA for its Authorized KYOCERA MITA Device,
provided that PEERLESS shall not disclose in such press release any other
details about the Authorized KYOCERA MITA Device without KYOCERA MITA’s prior
written approval, which approval shall not be unreasonably withheld.

6.   TRAINING

No training is provided under this LSA #5.

         

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Confidential treatment has been requested for portions of this document. This
copy of the document filed as an Exhibit omits the confidential information
subject to the confidentiality request. Omissions are designated by three
asterisks (***). A complete version of this document has been filed separately
with the Securities and Exchange Commission.

     
KYOCERA MITA/ PEERLESS LSA #5
  CONFIDENTIAL

--------------------------------------------------------------------------------

 

7.   TELEPHONE SUPPORT

No telephone support is provided under this LSA #5.

8.   WARRANTY

No warranty is provided under this LSA #5.

9.   PAYMENT SCHEDULE

Payment Schedule

         
1. Block License Payment #1 within thirty (30) days of execution of this LSA #5
or April 30, 2004, whichever comes first
  US$***
2. Block License Payment #2 within one hundred twenty (120) days of execution of
this LSA #5 or July 30, 2004, whichever comes first
  US$***
3. Block License Payment #5 within two hundred ten (210) days of execution of
this LSA #5 or October 30, 2004, whichever comes first
  US$***
4. Block License Payment #4 within three hundred (300) days of execution of this
LSA #5 or January 30, 2005, whichever comes first
  US$***
5. Block License Payment #5 within three hundred ninety (390) days of execution
of this LSA #5 or May 30, 2005, whichever comes first
  US$***
      TOTAL
  US$***

IN WITNESS WHEREOF, each of KYOCERA MITA and PEERLESS has executed this LSA #5
by its duly authorized officer as of the Effective Date:

     
KYOCERA MITA CORPORATION
  PEERLESS SYSTEMS CORPORATION
 
   
By:/s/ Makoto Koga
  By:/s/ William Neil

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(Authorized Signature)
 

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(Authorized Signature)
Name: Makoto Koga
  Name: William Neil
Title: Senior General Manager
  Title: Vice President of Finance and CFO
Date: April 27, 2004
  Date: April 16, 2004

         

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