<PAGE>
                                                                    EXHIBIT 4.11



         THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR
INVESTMENT. THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE SOLD,
TRANSFERRED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT OR EXEMPTION FROM REGISTRATION UNDER THE FOREGOING LAWS.

THIS WARRANT SHALL BE VOID AFTER 5:00 P.M. EASTERN TIME ON SEPTEMBER 29,
2008 (THE "EXPIRATION DATE").

No. CSW-20


                        FIRST VIRTUAL COMMUNICATIONS, INC.

                      WARRANT TO PURCHASE 200,000 SHARES OF
                     COMMON STOCK, PAR VALUE $0.001 PER SHARE

                                                              SEPTEMBER 30, 2003

                          VOID AFTER SEPTEMBER 29, 2008

         FOR VALUE RECEIVED, Richard T. Peery Separate Property Trust
("Warrantholder"), is entitled to purchase, subject to the provisions of this
Warrant, from First Virtual Communications, Inc., a Delaware corporation
("Company"), at any time after September 30, 2003 and not later than 5:00 P.M.,
Eastern time, on the Expiration Date (as defined above), at an exercise price
per share equal to $1.35, (the exercise price in effect being herein called the
"Warrant Price"), 200,000 shares ("Warrant Shares") of the Company's Common
Stock, par value $0.001 per share ("Common Stock"). The number of Warrant Shares
purchasable upon exercise of this Warrant and the Warrant Price shall be subject
to adjustment from time to time as described herein.

         SECTION 1. Registration. The Company shall maintain books for the
transfer and registration of the Warrant. Upon the initial issuance of this
Warrant, the Company shall issue and register the Warrant in the name of the
Warrantholder.

         SECTION 2. Transfers. As provided herein, this Warrant may be
transferred only pursuant to a registration statement filed under the Securities
Act of 1933, as amended ("Securities Act"), or an exemption from such
registration. Subject to such restrictions, the Company shall transfer this
Warrant from time to time upon the books to be maintained by the Company for
that purpose, upon surrender thereof for transfer properly endorsed or
accompanied by appropriate instructions for transfer and such other documents as
may be reasonably required by the Company, including, if required by the
Company, an opinion of its counsel to the effect that such transfer is exempt
from the registration requirements of the Securities Act of 1933, to

                                       1
<PAGE>
establish that such transfer is being made in accordance with the terms hereof,
and a new Warrant shall be issued to the transferee and the surrendered Warrant
shall be canceled by the Company.

         SECTION 3. Exercise of Warrant. Subject to the provisions hereof, the
Warrantholder may exercise this Warrant in whole or in part at any time upon
surrender of the Warrant, together with delivery of the duly executed Warrant
exercise form attached hereto as Appendix A (the "Exercise Agreement") and
payment by cash, certified check or wire transfer of funds for the aggregate
Warrant Price for that number of Warrant Shares then being purchased, to the
Company during normal business hours on any business day at the Company's
principal executive offices (or such other office or agency of the Company as it
may designate by notice to the holder hereof). The Warrant Shares so purchased
shall be deemed to be issued to the holder hereof or such holder's designee, as
the record owner of such shares, as of the close of business on the date on
which this Warrant shall have been surrendered (or evidence of loss, theft or
destruction thereof and security or indemnity satisfactory to the Company), the
Warrant Price shall have been paid and the completed Exercise Agreement shall
have been delivered. Certificates for the Warrant Shares so purchased,
representing the aggregate number of shares specified in the Exercise Agreement,
shall be delivered to the holder hereof within a reasonable time, not exceeding
three (3) business days, after this Warrant shall have been so exercised. The
certificates so delivered shall be in such denominations as may be requested by
the holder hereof and shall be registered in the name of such holder or such
other name as shall be designated by such holder. If this Warrant shall have
been exercised only in part, then, unless this Warrant has expired, the Company
shall, at its expense, at the time of delivery of such certificates, deliver to
the holder a new Warrant representing the number of shares with respect to which
this Warrant shall not then have been exercised. As used herein, "business day"
means a day, other than a Saturday or Sunday, on which banks in New York City
are open for the general transaction of business. Each exercise hereof shall
constitute the re-affirmation by the Warrantholder that the representations and
warranties with respect to the Warrant Shares contained in Section 4 below are
true and correct in all respects with respect to the Warrantholder as of the
time of such exercise.

         SECTION 3.1 Net Exercise. Notwithstanding any provisions herein to the
contrary, if the fair market value of one share of the Company's Common Stock is
greater than the Exercise Price (at the date of calculation as set forth below),
in lieu of exercising this Warrant by payment of cash, the Holder may elect to
receive shares equal to the value (as determined below) of this Warrant (or the
portion thereof being canceled) by surrender of this Warrant at the principal
office of the Company together with the properly endorsed Notice of Exercise in
which event the Company shall issue to the Holder a number of shares of Common
Stock computed using the following formula:

                  X = Y (A-B)
                      -------
                        A

Where       X = the number of shares of Common Stock to be issued to the Holder
            Y = the number of shares of Common Stock purchasable under
                  the Warrant or, if only a portion of the Warrant is
                  being exercised, the portion of the Warrant being
                  canceled (at the date of such calculation)



                                       2.
<PAGE>
            A =   the fair market value of one share of the Company's Common
                  Stock (at the date of such calculation)

            B =   Exercise Price (as adjusted to the date of such
                  calculation)

For purposes of the above calculation, the fair market value of one share of
Common Stock shall be equal to the fair market value of one share of Common
Stock of the Company as quoted on the Nasdaq SmallCap or National Market on the
date of such calculation.

         SECTION 4. Compliance with the Securities Act of 1933; Investment
Representations.

                  (A) The Company may cause the legend set forth on the first
page of this Warrant to be set forth on each Warrant or similar legend on any
security issued or issuable upon exercise of this Warrant, unless counsel for
the Company is of the opinion as to any such security that such legend is
unnecessary.

                  (B) The Investor understands that: (i) the offering and sale
of this Warrant and the Warrant Shares purchasable upon exercise of this Warrant
is intended to be exempt from the registration requirements of the Securities
Act; (ii) the offer and sale of this Warrant and the Warrant Shares purchasable
upon exercise of this Warrant has not been registered under the Securities Act
or any other applicable securities laws and such securities may be resold only
if registered under the Securities Act and any other applicable securities laws
or if an exemption from such registration requirements is available; and (iii)
the Company is not required to register any resale of this Warrants or the
Warrant Shares under the Securities Act or any other applicable securities laws.

                  (C) The Investor represents that the Warrant and the Warrant
Shares purchasable upon exercise of this Warrant are being acquired for his own
account and not with a view to, or for sale in connection with, any distribution
thereof in violation of the Securities Act or any other securities laws that may
be applicable.

                  (D) The Investor represents that the Investor (i) is an
"accredited investor" as that term is defined in Rule 501(a) of Regulation D
under the Securities Act, (ii) has sufficient knowledge and experience in
financial and business matters so as to be capable of evaluating the merits and
risks of his acquisition of the Warrant and investment in the Warrant Shares and
is capable of bearing the economic risks of such investment, including a
complete loss of his investment in any Warrant Shares purchasable upon exercise
of this Warrant; (iii) believes that his acquisition of the Warrant and
investment in the Warrant Shares purchasable upon exercise of this Warrant is
suitable for him based upon his objectives and financial needs, and the Investor
has adequate means for providing for his current financial needs and business
contingencies and has no present need for liquidity of any investment with
respect to this Warrant or any Warrant Shares purchasable upon exercise of this
Warrant; and (iv) has not purchased, sold or entered into any put option, short
position or similar arrangement with respect to any Warrant Shares purchasable
upon exercise of this Warrant.

                                       3.
<PAGE>
                  (E) The Investor acknowledges that no oral or written
statements or representations have been made to the Investor by or on behalf of
the Company in connection with the offering and sale of this Warrant or any
Warrant Shares purchasable upon exercise of this Warrant other than those set
forth in the Company's Annual Report on Form 10-K for the year-ended December
31, 2002, the Company's definitive proxy statement, filed April 30, 2003, and
the Company's other reports and documents filed under Sections 13(a), 13(c), 14
or 15(d) under the Securities Exchange Act of 1934, as amended, or as set forth
herein.

                  (F) The Investor acknowledges that the Securities Act and
state securities laws restrict the transferability of securities, such as the
Warrant Shares, issued in reliance upon the exemption from the registration
requirements of the Securities Act provided by Section 4(2) thereunder and
applicable state securities laws, and that, unless registered under the
Securities Act or an exemption from registration is available, the Warrant
Shares purchasable upon exercise of this Warrant must be held indefinitely.

                  (G) The Investor has been furnished with all materials
relating to the business, finances and operations of the Company and materials
relating to the issuance of this Warrant and the Warrant Shares purchasable upon
exercise of this Warrant which have been requested by the Investor. The Investor
has been afforded the opportunity to ask questions of the Company. The Investor
understands that its investment in the Warrant and any Warrant Shares
purchasable upon exercise of this Warrant involves a significant degree of risk.

                  (H) The Investor shall make all filings with the Commission
required under the Exchange Act, including reports required under Regulation
13D-G thereunder, within the time periods required under the Exchange Act, in
connection with any purchase of Warrant Shares upon exercise of this Warrant.

         SECTION 5. Payment of Taxes. The Company will pay any documentary stamp
taxes attributable to the initial issuance of Warrant Shares issuable upon the
exercise of the Warrant; provided, however, that the Company shall not be
required to pay any tax or taxes which may be payable in respect of any transfer
involved in the issuance or delivery of any certificates for Warrant Shares in a
name other than that of the registered holder of this Warrant in respect of
which such shares are issued, and in such case, the Company shall not be
required to issue or deliver any certificate for Warrant Shares or any Warrant
until the person requesting the same has paid to the Company the amount of such
tax or has established to the Company's reasonable satisfaction that such tax
has been paid. The holder shall be responsible for income taxes due under
federal, state or other law, if any such tax is due.

         SECTION 6. Mutilated or Missing Warrants. In case this Warrant shall be
mutilated, lost, stolen, or destroyed, the Company shall issue in exchange and
substitution of and upon cancellation of the mutilated Warrant, or in lieu of
and substitution for the Warrant lost, stolen or destroyed, a new Warrant of
like tenor and for the purchase of a like number of Warrant Shares, but only
upon receipt of evidence reasonably satisfactory to the Company of such loss,
theft or destruction of the Warrant, and with respect to a lost, stolen or
destroyed Warrant, reasonable indemnity or bond with respect thereto, if
requested by the Company.

                                       4.
<PAGE>
         SECTION 7. Reservation of Common Stock. The Company hereby represents
and warrants that there have been reserved, and the Company shall at all
applicable times keep reserved until issued (if necessary) as contemplated by
this Section 7, out of the authorized and unissued shares of Common Stock,
sufficient shares to provide for the exercise of the rights of purchase
represented by this Warrant. The Company agrees that all Warrant Shares issued
upon due exercise of the Warrant shall be, at the time of delivery of the
certificates for such Warrant Shares, duly authorized, validly issued, fully
paid and non-assessable shares of Common Stock of the Company.

         SECTION 8. Adjustments. Subject and pursuant to the provisions of this
Section 8, the Warrant Price and number of Warrant Shares subject to this
Warrant shall be subject to adjustment from time to time as set forth
hereinafter.

                  (A) If the Company shall, at any time or from time to time
while this Warrant is outstanding, pay a dividend or make a distribution on its
Common Stock in shares of Common Stock, subdivide its outstanding shares of
Common Stock into a greater number of shares or combine its outstanding shares
of Common Stock into a smaller number of shares or issue by reclassification of
its outstanding shares of Common Stock any shares of its capital stock
(including any such reclassification in connection with a consolidation or
merger in which the Company is the continuing corporation), then the number of
Warrant Shares purchasable upon exercise of the Warrant and the Warrant Price in
effect immediately prior to the date upon which such change shall become
effective, shall be adjusted by the Company so that the Warrantholder thereafter
exercising the Warrant shall be entitled to receive the number of shares of
Common Stock or other capital stock which the Warrantholder would have received
if the Warrant had been exercised immediately prior to such event upon payment
of a Warrant Price that has been adjusted to reflect a fair allocation of the
economics of such event to the Warrantholder. Such adjustments shall be made
successively whenever any event listed above shall occur.

                  (B) If any capital reorganization, reclassification of the
capital stock of the Company, consolidation or merger of the Company with
another corporation in which the Company is not the survivor, or sale, transfer
or other disposition of all or substantially all of the Company's assets to
another corporation shall be effected, then, as a condition of such
reorganization, reclassification, consolidation, merger, sale, transfer or other
disposition, lawful and adequate provision shall be made whereby each
Warrantholder shall thereafter have the right to purchase and receive upon the
basis and upon the terms and conditions herein specified and in lieu of the
Warrant Shares immediately theretofore issuable upon exercise of the Warrant,
such shares of stock, securities or assets as would have been issuable or
payable with respect to or in exchange for a number of Warrant Shares equal to
the number of Warrant Shares immediately theretofore issuable upon exercise of
the Warrant, had such reorganization, reclassification, consolidation, merger,
sale, transfer or other disposition not taken place, and in any such case
appropriate provision shall be made with respect to the rights and interests of
each Warrantholder to the end that the provisions hereof (including, without
limitation, provision for adjustment of the Warrant Price) shall thereafter be
applicable, as nearly equivalent as may be practicable in relation to any shares
of stock, securities or properties thereafter deliverable upon the exercise
thereof. The Company shall not effect any such consolidation, merger, sale,
transfer or other disposition unless prior to or simultaneously with the
consummation thereof the successor

                                       5.
<PAGE>
corporation (if other than the Company) resulting from such consolidation or
merger, or the corporation purchasing or otherwise acquiring such assets or
other appropriate corporation or entity shall assume the obligation to deliver
to the holder of the Warrant, at the last address of such holder appearing on
the books of the Company, such shares of stock, securities or assets as, in
accordance with the foregoing provisions, such holder may be entitled to
purchase, and the other obligations under this Warrant. The provisions of this
paragraph (b) shall similarly apply to successive reorganizations,
reclassifications, consolidations, mergers, sales, transfers or other
dispositions.

         SECTION 9. Fractional Interest. The Company shall not be required to
issue fractions of Warrant Shares upon the exercise of this Warrant. If any
fractional share of Common Stock would, except for the provisions of the first
sentence of this Section 9, be deliverable upon such exercise, the Company, in
lieu of delivering such fractional share, shall pay to the exercising holder of
this Warrant an amount in cash equal to the Fair Market Value of such fractional
share of Common Stock on the date of exercise. As used in this Warrant, "Fair
Market Value" of a share of Common Stock as of a particular date (the "Valuation
Date") shall mean the following: (a) if the Common Stock is then listed on a
national stock exchange, the closing sale price of one share of Common Stock on
such exchange on the last trading day prior to the Valuation Date; (b) if the
Common Stock is then quoted on Nasdaq, the closing sale price of one share of
Common Stock on Nasdaq on the last trading day prior to the Valuation Date or,
if no such closing sale price is available, the average of the high bid and the
low sales price quoted on Nasdaq on the last trading day prior to the Valuation
Date; or (c) if the Common Stock is not then listed on a national stock exchange
or quoted on Nasdaq, the Fair Market Value of one share of Common Stock as of
the Valuation Date, shall be determined in good faith by the Board of Directors
of the Company.

         SECTION 10. Benefits. Nothing in this Warrant shall be construed to
give any person, firm or corporation (other than the Company and the
Warrantholder) any legal or equitable right, remedy or claim, it being agreed
that this Warrant shall be for the sole and exclusive benefit of the Company and
the Warrantholder.

         SECTION 11. Notices to Warrantholder. Upon the happening of any event
requiring an adjustment of the Warrant Price, the Company shall promptly give
written notice thereof to the Warrantholder at the address appearing in the
records of the Company, stating the adjusted Warrant Price and the adjusted
number of Warrant Shares resulting from such event and setting forth in
reasonable detail the method of calculation and the facts upon which such
calculation is based. Failure to give such notice to the Warrantholder or any
defect therein shall not affect the legality or validity of the subject
adjustment.

         SECTION 12. Identity of Transfer Agent. The Transfer Agent for the
Common Stock is Computer Share Trust Company. Upon the appointment of any
subsequent transfer agent for the Common Stock or other shares of the Company's
capital stock issuable upon the exercise of the rights of purchase represented
by the Warrant, the Company will mail to the Warrantholder a statement setting
forth the name and address of such transfer agent.

                                       6.
<PAGE>
         SECTION 13. Notices. Unless otherwise provided, any notice required or
permitted under this Warrant shall be given in writing and shall be deemed
effectively given as hereinafter described (i) if given by personal delivery,
then such notice shall be deemed given upon such delivery, (ii) if given by
telex or telecopier, then such notice shall be deemed given upon receipt of
confirmation of complete transmittal, (iii) if given by mail, then such notice
shall be deemed given upon the earlier of (A) receipt of such notice by the
recipient or (B) three days after such notice is deposited in first class mail,
postage prepaid, and (iv) if given by an internationally recognized overnight
air courier, then such notice shall be deemed given one day after delivery to
such carrier. All notices shall be addressed as follows: if to the
Warrantholder, at its address as set forth in the Company's books and records
and, if to the Company, at the address as follows, or at such other address as
the Warrantholder or the Company may designate by ten days' advance written
notice to the other:

                  If to the Company:

                        First Virtual Communications, Inc.
                        3393 Octavius Drive
                        Santa Clara, California 95054
                        Attention:  Chief Financial Officer
                        Fax: (408) 748-2241

                  With a copy to:

                        Cooley Godward llp
                        4401 Eastgate Mall
                        San Diego, California 92121-1909
                        Attention:  Julie M. Robinson, Esq.
                        Fax: (858) 550-6420

         SECTION 14. Successors. All the covenants and provisions hereof by or
for the benefit of the Warrantholder shall bind and inure to the benefit of its
respective successors and assigns hereunder.

         SECTION 15. Governing Law. This Warrant shall be governed by, and
construed in accordance with, the internal laws of the State of California,
without reference to the choice of law provisions thereof. The Company and, by
accepting this Warrant, the Warrantholder, each irrevocably submits to the
exclusive jurisdiction of the courts of the State of California located in
Northern California and the United States District Court for the Northern
District of California for the purpose of any suit, action, proceeding or
judgment relating to or arising out of this Warrant and the transactions
contemplated hereby. Service of process in connection with any such suit, action
or proceeding may be served on each party hereto anywhere in the world by the
same methods as are specified for the giving of notices under this Warrant. The
Company and, by accepting this Warrant, the Warrantholder, each irrevocably
consents to the jurisdiction of any such court in any such suit, action or
proceeding and to the laying of venue in such court. The

                                       7.
<PAGE>
Company and, by accepting this Warrant, the Warrantholder, each irrevocably
waives any objection to the laying of venue of any such suit, action or
proceeding brought in such courts and irrevocably waives any claim that any such
suit, action or proceeding brought in any such court has been brought in an
inconvenient forum.

         SECTION 16. No Rights as Stockholder. Prior to the exercise of this
Warrant, the Warrantholder shall not have or exercise any rights as a
stockholder of the Company by virtue of its ownership of this Warrant.

         SECTION 17. Amendment; Waiver. This Warrant may be amended or waived
(including the adjustment provisions included in Section 8 of this Warrant) upon
the written consent of the Company and the Warrantholder Section Headings. The
section heading in this Warrant are for the convenience of the Company and the
Warrantholder and in no way alter, modify, amend, limit or restrict the
provisions hereof.

                                       8.
<PAGE>
         IN WITNESS WHEREOF, the Company has caused this Warrant to be duly
executed, as of the 30th day of September, 2003.

                                    FIRST VIRTUAL COMMUNICATIONS, INC.



                                    By: /s/ Truman Cole
                                       ---------------------------------

                                    Name: Truman Cole
                                          ------------------------------------

                                    Title: CFO
                                           -----------------------------------

                                       9.
<PAGE>
                                   APPENDIX A
                     FIRST VIRTUAL COMMUNICATIONS, INC.
                              WARRANT EXERCISE FORM

To: First Virtual Communications, Inc.

         The undersigned hereby irrevocably elects to exercise the right of
purchase represented by the within Warrant ("Warrant") for, and to purchase
thereunder by the payment of the Warrant Price and surrender of the Warrant,
_______________ shares of Common Stock ("Warrant Shares") provided for therein,
and requests that certificates for the Warrant Shares be issued as follows:

                  -------------------------------
                  Name

                  --------------------------------
                  Address

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

                  --------------------------------
                  Federal Tax ID or Social Security No.

      and delivered by (certified mail to the above address, or
                       (electronically (provide DWAC
Instructions:___________________), or
                       (other (specify):

________________________________).

and, if the number of Warrant Shares shall not be all the Warrant Shares
purchasable upon exercise of the Warrant, that a new Warrant for the balance of
the Warrant Shares purchasable upon exercise of this Warrant be registered in
the name of the undersigned Warrantholder or the undersigned's Assignee as below
indicated and delivered to the address stated below.

Dated: ___________________, ____

Note:  The signature must correspond with
Signature:_______________________________
the name of the registered holder as written on
the first page of the Warrant in every                 -------------------------
particular, without alteration or enlargement          Name (please print)
or any change whatever, unless the Warrant
has been assigned.                                     -------------------------

                                                       -------------------------
                                                       Address

                                                       -------------------------
                                                       Federal Identification or
<PAGE>
                                          Social Security No.

                                          Assignee:

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