Exhibit 2.9.10


ADDENDUM 2 TO CONVERTIBLE LOAN AGREEMENT

         THIS ADDENDUM 2 TO CONVERTIBLE LOAN AGREEMENT (this  "Addendum")  dated
as of May 15, 2003  ("Effective  Date"),  is by and between  Commtouch  Software
Ltd., an Israeli corporation ("Commtouch"), and the lenders signing below (each,
a "Lender", and collectively, the "Lenders").

         WHEREAS,  Commtouch and the Lenders previously executed the Convertible
Loan Agreement on January 29, 2003 ("Agreement"); and

         WHEREAS,  the Lenders  have funded the first  tranche of the Loan,  and
have indicated their intent to fund the second tranche of the Loan; and

         WHEREAS,  XDL Capital  Corp.,  on behalf of certain of the existing and
new Lenders,  has exercised the option to fund the additional amount of the Loan
of $345,000 pursuant to Addendum 1 to Convertible Loan Agreement dated March 28,
2003; and

         NOW,  THEREFORE,  in  consideration  of the foregoing  premises and the
representations,  warranties,  covenants and agreements  herein  contained,  and
intending to be legally bound hereby, the parties agree as follows:

1.  Amendment to Exhibit "A" to the Agreement


Exhibit "A" to the  Agreement is replaced and  superseded  by the  following new
Exhibit "A":

<TABLE>
<CAPTION>
Lenders' Names and Addresses              First Tranche Loan Amount     Second Tranche Loan Amount
----------------------------              -------------------------     --------------------------
<S>                                       <C>                           <C>
AxcessNet Resources LLC.                  $44,000                       $156,000
                                          -------                       --------
1050 Winter Street (Suite 2400),
Waltham MA 02451
Tel: (781)466-8888;
Fax:(781)466-8822;
Email:eyal@axcess-net.com

Bert Amato                                $40,000                       $60,000
                                          -------                       -------
364 Glencairn Avenue
Toronto, Ontario
M5N 1V1
Phone: (416) 488-9459
Fax:(416) 484-1409
Email: bamato@sympatico.ca

Compugen Systems Ltd.                     $50,000                       $75,000
                                          -------                       -------
25 Leek Crescent
Richmond Hill, ON Canada L4B4B3
tel: 905 707-2050, 1-800-387-5045;
fax: (905) 707-2020 Email:
hzarek@compugen.com

Delta Capital Investments Ltd.            $20,000                       $30,000
                                          -------                       -------
37-41 Bedford Row
London, WC1R4JH
Fax 44-20-76112396
Email: delta51@attglobal.net
Attn: David Teacher
</TABLE>
<PAGE>

KKB Ventures LLC                          $100,000                      $150,000
                                          --------                      --------
Attn: Ken Casey
285 Musketaquid Rd. Concord, Ma. 01742
Tel: 617 320-9764
Fax: none
Email: kfcasey@hotmail.com



XDL Capital Corp.                         $50,000                       $165,000
                                          -------                       --------
30 St. Clair Avenue West, Ste. 901,
Toronto,  M4V 3A1
Attn: David Latner, ASO & Dennis Bennie
Tel:416-250-1990
fax:416-250-6330
Email: dbennie@xdl.com; dlatner@xdl.com

Edward B. Roberts                         $30,000                       $45,000
                                          -------                       -------
David Sarnoff Professor of the
Management of Technology
MIT Sloan School of Management
300 Boylston St.
Boston, MA 02116
Tel: 617-482-0671
Fax: 617-426-9107
Email: eroberts@mit.edu

LENE L.P.                                 $20,000                       $30,000
                                          -------                       -------
c/o Lloyd E. Shefsky, General Partner
444 N. Michigan Ave.
Chicago, IL 60611
Tel: 312-836-4001
Fax: 312-527-9931
Email: leshefsky@shefskyltd.com
<PAGE>

Yona Hollander                            $8,000                        $12,000
                                          ------                        -------
19261 Phil lane
Cupertino, CA 95014
Tel: 408-996-1579
Fax: 408 467 4601
yhollander@entercept.com

Lloyd E. Shefsky                                                        $25,000
                                                                        -------
444 N. Michigan Ave.
Chicago, IL 60611
Tel: 312-836-4001
Fax: 312-527-9931
Email: leshefsky@shefskyltd.com

OZF Ltd.                                                                $90,000
                                                                        -------
Tropic Isle Building
Wickhams Cay, P.O. Box 964
Road Town, Tortola, British Virgin
Islands
c/o Tis Prager, Prager Dreifuss,
Muehlebachstr. 6, CH-8008 Zurich,
Switzerland
Fax:  +41 1 254 55 99
Email:  mail@prager-dreifuss.com

Clarenville Ltd.
Nora Court 86, CY-3040                                                  $50,000
                                                                        -------
Athinon Street
Limassol, Cyprus
Attn: Shlomo Weintraub
Tel: +1 408 666 8201
Fax: +1 408 255 7420
Email: shlomowein@yahoo.com;
simon@capital-inv.com
Attn: Mr. Elikos Elia
Tel: 357 2 5555000
Fax: 357 2 5555001
Email: elikos.elia@cy.pwc.com

<PAGE>
2. Amendment to Exhibit "C" to the Agreement

Exhibit "A" to Exhibit "C" of the  Agreement is replaced and  superseded  by the
following new schedule:


Note Holders
<TABLE>
<S>                                             <C>
AxcessNet Resources LLC.                        Edward B. Roberts
1050 Winter Street (Suite 2400),                David Sarnoff Professor of the Management of
Waltham MA 02451                                Technology
Tel: (781)466-8888;                             MIT Sloan School of Management
Fax:(781)466-8822;                              300 Boylston St.
Email:eyal@axcess-net.com                       Boston, MA 02116
                                                Tel: 617-482-0671
                                                Fax: 617-426-9107
                                                Email: eroberts@mit.edu

Bert Amato                                      LENE L.P.
364 Glencairn Avenue                            c/o Lloyd E. Shefsky, General Partner
Toronto, Ontario                                444 N. Michigan Ave.
M5N 1V1                                         Chicago, IL 60611
Phone: (416) 488-9459                           Tel: 312-836-4001
Fax:(416) 484-1409                              Fax: 312-527-9931
Email: bamato@sympatico.ca                      Email: leshefsky@shefskyltd.com

Compugen Systems Ltd.                           Yona Hollander
25 Leek Crescent                                19261 Phil lane
Richmond Hill, ON Canada L4B 4B3                Cupertino, CA 95014
tel: 905 707-2050, 1-800-387-5045;              Tel: 408-996-1579
fax: (905) 707-2020                             Fax: 408 467 4601
Email: hzarek@compugen.com                      yhollander@entercept.com

Delta Capital Investments Ltd.                  Lloyd E. Shefsky
37-41 Bedford Row                               444 N. Michigan Ave.
London, WC1R4JH                                 Chicago, IL 60611
Fax 44-20-76112396                              Tel: 312-836-4001
Email: delta51@attglobal.net                    Fax: 312-527-9931
Attn: David Teacher                             Email: leshefsky@shefskyltd.com

KKB Ventures LLC                                OZF Ltd.
Attn: Ken Casey                                 Tropic Isle Building
285 Musketaquid Rd. Concord, Ma. 01742          Wickhams Cay, P.O. Box 964
Tel: 617 320-9764                               Road Town, Tortola, British Virgin Islands
Fax: none                                       c/o Tis Prager, Prager Dreifuss, Muehlebachstr.
Email: kfcasey@hotmail.com                      6, CH-8008 Zurich, Switzerland
                                                Fax:  +41 1 254 55 99
                                                Email:  mail@prager-dreifuss.com
</TABLE>
<PAGE>

XDL Capital Corp.                               Clarenville Ltd.
30 St. Clair Avenue West, 9th Floor,            Nora Court 86, CY-3040
Toronto,  M4V 3A1                               Athinon Street
Tel:416-250-1990                                Limassol, Cyprus
fax:416-250-6330                                Attn: Shlomo Weintraub
Email: dbennie@mobile.rogers.com                Tel: +1 408 666 8201
                                                Fax: +1 408 255 7420
                                                Email: shlomowein@yahoo.com;
                                                simon@capital-inv.com
                                                Attn: Mr. Elikos Elia
                                                Tel: 357 2 5555000
                                                Fax: 357 2 5555001
                                                Email: elikos.elia@cy.pwc.com

3.  Amendment to Exhibit "G" to the Agreement

Annex 1 to Exhibit  "G" to the  Agreement  is  replaced  and  superseded  by the
following new Annex 1:

AxcessNet Resources LLC.
1050 Winter Street (Suite 2400)
Waltham MA 02451
Tel: (781)466-8888;
Fax:(781)466-882;
Email:eyal@axcess-net.com

Bert Amato
364 Glencairn Avenue
Toronto, Ontario
M5N 1V1
Phone: (416) 488-9459
Fax:(416) 484-1409
Email: bamato@sympatico.ca

Compugen Systems Ltd.
25 Leek Crescent
Richmond Hill, ON Canada L4B 4B3
tel: 905 707-2050, 1-800-387-5045;
Email: hzarek@compugen.com

Delta Capital Ltd.
788-790 Finchley Road
London, NW117TJ
Fax 44-20-82019448
Email: David@bcbusnes.demon.co.il
gideon@betasea.com

KKB Ventures LLC
Attn: Ken Casey
285 Musketaquid Rd.
Concord,Ma.  01742
Tel: 617 320-9764
Fax: none
Email: kfcasey@hotmail.com
<PAGE>

XDL Capital Corp.
30 St. Clair Avenue West, Ste. 901,
Toronto,  M4V 3A1
Attn: David Latner, ASO & Dennis Bennie
Tel:416-250-1990
fax:416-250-6330
Email: dbennie@xdl.com; dlatner@xdl.com

Edward B. Roberts
David Sarnoff Professor of the Management of Technology
MIT Sloan School of Management
300 Boylston St.
Boston, MA 02116
Tel: 617-482-0671
Fax: 617-426-9107
Email: eroberts@mit.edu

LENE L.P.
c/o Lloyd E. Shefsky, General Partner
444 N. Michigan Ave.
Chicago, IL 60611
Tel: 312-836-4001
Fax: 312-527-9931
Email: leshefsky@shefskyltd.com

Yona Hollander
19261 Phil lane
Cupertino, CA 95014
Tel: 408-996-1579
Fax: 408 467 4601
yhollander@entercept.com

Lloyd E. Shefsky
444 N. Michigan Ave.
Chicago, IL 60611
Tel: 312-836-4001
Fax: 312-527-9931
Email: leshefsky@shefskyltd.com

OZF Ltd.
Tropic Isle Building
Wickhams Cay, P.O. Box 964
Road Town, Tortola, British Virgin Islands
c/o Tis Prager, Prager Dreifuss, Muehlebachstr. 6,
CH-8008 Zurich, Switzerland
Fax:  +41 1 254 55 99
Email:  mail@prager-dreifuss.com

Clarenville Ltd.
Nora Court 86, CY-3040
Athinon Street
Limassol, Cyprus
Attn: Shlomo Weintraub
Tel: +1 408 666 8201
Fax: +1 408 255 7420
Email: shlomowein@yahoo.com;
simon@capital-inv.com
<PAGE>

Attn: Mr. Elikos Elia
Tel: 357 2 5555000
Fax: 357 2 5555001
Email: elikos.elia@cy.pwc.com


4.  Amendment to Exhibit "H" to the Agreement

Annex 1 to Exhibit  "H" to the  Agreement  is  replaced  and  superseded  by the
following new Annex 1:

AxcessNet Resources LLC.
1050 Winter Street (Suite 2400), Waltham MA 02451
Tel: (781)466-8888;
Fax:(781)466-882;
Email:eyal@axcess-net.com

Bert Amato
364 Glencairn Avenue
Toronto, Ontario
M5N 1V1
Phone: (416) 488-9459
Fax:(416) 484-1409
Email: bamato@sympatico.ca

Compugen Systems Ltd.
25 Leek Crescent
Richmond Hill, ON Canada L4B 4B3
tel: 905 707-2050, 1-800-387-5045;
Email: hzarek@compugen.com

Delta Capital Ltd.
788-790 Finchley Road
London, NW117TJ
Fax 44-20-82019448
Email: David@bcbusnes.demon.co.il
gideon@betasea.com

KKB Ventures LLC
Attn: Ken Casey
285 Musketaquid Rd.
Concord,Ma.  01742
Tel: 617 320-9764
Fax: none
Email: kfcasey@hotmail.com


XDL Capital Corp.
30 St. Clair Avenue West, Ste. 901,
Toronto,  M4V 3A1
Attn: David Latner, ASO & Dennis Bennie
Tel:416-250-1990
fax:416-250-6330
Email: dbennie@xdl.com; dlatner@xdl.com
<PAGE>

Edward B. Roberts
David Sarnoff Professor of the Management of Technology
MIT Sloan School of Management
300 Boylston St.
Boston, MA 02116
Tel: 617-482-0671
Fax: 617-426-9107
Email: eroberts@mit.edu

LENE L.P.
c/o Lloyd E. Shefsky, General Partner
444 N. Michigan Ave.
Chicago, IL 60611
Tel: 312-836-4001
Fax: 312-527-9931
Email: leshefsky@shefskyltd.com

Yona Hollander
19261 Phil lane
Cupertino, CA 95014
Tel: 408-996-1579
Fax: 408 467 4601
yhollander@entercept.com

Lloyd E. Shefsky
444 N. Michigan Ave.
Chicago, IL 60611
Tel: 312-836-4001
Fax: 312-527-9931
Email: leshefsky@shefskyltd.com

OZF Ltd.
Tropic Isle Building
Wickhams Cay, P.O. Box 964
Road Town, Tortola, British Virgin Islands
c/o Tis Prager, Prager Dreifuss, Muehlebachstr. 6,
CH-8008 Zurich, Switzerland
Fax:  +41 1 254 55 99
Email:  mail@prager-dreifuss.com

Clarenville Ltd.
Nora Court 86, CY-3040
Athinon Street
Limassol, Cyprus
Attn: Shlomo Weintraub
Tel: +1 408 666 8201
Fax: +1 408 255 7420
Email: shlomowein@yahoo.com;
simon@capital-inv.com
Attn: Mr. Elikos Elia
Tel: 357 2 5555000
Fax: 357 2 5555001
Email: elikos.elia@cy.pwc.com
<PAGE>

5. GENERAL

     a.  Terms used herein shall have the same meaning as ascribed to such terms
         in the Agreement.

     b.  In signing this Addendum 2, the signatories  hereon: (i) agree that the
         new lenders to the Agreement added by way of this addendum (i.e.  Lloyd
         E.  Shefsky,  OZF Ltd.  and  Clarenville  Ltd.)  shall be  deemed to be
         "Lenders" under the Agreement in all respects, with accompanying rights
         and  obligations  associated  with that term being  assumed by such new
         lenders as if they were original  signatories  to the  Agreement;  (ii)
         agree that the signatures  hereon by such new lenders shall  constitute
         their  signature  to those  agreements  attached  to the  Agreement  as
         Exhibits that were  previously  executed by all Lenders  independent of
         the execution of the Agreement; (iii) waive any claim, right or defense
         against any other party including against any new lender,  based on the
         fact that the Second Tranche  exceeds  $750,000;  (iv) waive any claim,
         right or defense  against  any other  party  including  against any new
         lender,   based  on  any  delay  in  providing   notice  of  intent  to
         participate,  or funding,  which  occurred prior to the signing of this
         Addendum or lack of participation in the First Tranche; (v) acknowledge
         that each party has the  obligation  to  ascertain  for itself that all
         closing conditions have been satisfied; (vi) acknowledge that s.10.2 of
         the  Agreement  is amended  for new lenders to oblige them only to fund
         the  Second  Tranche.

     c.  The  new  lenders   confirm  having  had  the   opportunity  to  obtain
         independent  legal advice,  to do due diligence  satisfactory for their
         purposes,  and to review the  Convertible  Loan Agreement dated January
         29,  2003  and  all  exhibits  and  schedules  therein,   or  documents
         incorporated by reference.

     d.  The  Company  confirms  it is  not  in  default  under  the  Agreement,
         including the promissory  notes, and any other document  referred to in
         the Agreement.

     e.  Except to the extent  amended  hereby,  the terms and conditions of the
         Agreement  shall remain in full force and effect as between the parties
         hereto throughout the term of the Agreement.

IN WITNESS  WHEREOF,  the parties have caused this Addendum to be executed as of
the Effective Date by their respective authorized representatives.

COMMTOUCH SOFTWARE LTD.

By: ________________                By: _______________
Title: _______________     Title:______________

LENDERS:


AxcessNet Resources LLC                     Yona Hollander
By: __________________________              By: ____________________________
Title: _________________________            Title: ___________________________

                                            Acknowledged and Agreed:

Bert Amato                                  COLLATERAL AGENT:
By: __________________________              XDL Capital Corp.
Title: _________________________            By: __________________________
                                            Title: _________________________




Compugen Systems Ltd.
By: __________________________              Delta Capital Investments Ltd.
Title: _________________________            By: __________________________
                                            Title: _________________________


KKB Ventures LLC                            Lloyd E. Shefsky
By: __________________________              By: ___________________________
Title: _________________________            Title: __________________________
<PAGE>

XDL Capital Corp.                           OZF Ltd.
By: __________________________              By: ___________________________
Title: _________________________            Title: __________________________

Edward B. Roberts                           Clarenville Ltd.
By: __________________________              By: __________________________
Title: _________________________            Title: _________________________

LENE L.P.
By: ___________________________
Title: __________________________