Document:

<Page>

                                                                   Exhibit 10.22

                               RAYOVAC CORPORATION
                           DEFERRED COMPENSATION PLAN

          WHEREAS, Rayovac Corporation, a corporation duly organized and
existing under the laws of the State of Wisconsin (the "Primary Sponsor"), and
each of its affiliates adopting the plan embodied herein desire to attract and
retain key employees and members of the Board of Directors by providing deferred
cash compensation to those key employees and directors who qualify hereunder;

          NOW, THEREFORE, the Primary Sponsor does hereby restate the Rayovac
Corporation Deferred Compensation Plan (the "Plan"), effective July 1, 2001, as
follows:

                                    Section 1
                                   DEFINITIONS

          Wherever used herein, the masculine pronoun shall be deemed to include
the feminine, and the singular to include the plural, unless the context clearly
indicates otherwise, and the following words and phrases shall have the meanings
set forth below:

          1.1   "ACCOUNT" means the bookkeeping account established and
maintained by the Plan Administrator to reflect the interest of a Member under
the Plan, as adjusted to reflect hypothetical income, gains, losses and other
credits or charges attributable to the investment benchmark selected by the
Member for the investment of his Account.

          1.2   "AFFILIATE" means (a) any corporation that is a member of the
same controlled group of corporations (within the meaning of Code Section
414(b)) as is a Plan Sponsor and (b) any other trade or business (whether or not
incorporated) under common control (within the meaning of Code Section 414(c))
with a Plan Sponsor.

          1.3   "ANNUAL COMPENSATION" means the amount paid to an Employee by a
Plan Sponsor during a Plan Year as base salary or as a bonus, disregarding for
this purpose any elections under Code Section 125 or Code Section 401(k), or the
amount paid to a Director by the Primary Sponsor during the Plan Year as fees
for services rendered as a member of the Board of Directors.

          1.4   "BENEFICIARY" means the person or trust that a Member designated
most recently in writing to the Plan Administrator; provided, however, that if
the Member has failed to make a designation, no person designated is alive, no
trust has been established or no successor Beneficiary has been designated who
is alive, the Beneficiary means (a) the Member's spouse or (b) if no spouse is
exists, the Member's surviving children, or (c) if no children are alive, the
Member's parents, or (d) if no parent is alive, the legal representative of the
deceased Member's estate. Changes in designations of Beneficiaries may be made
upon written notice to the Plan Administrator in such form as the Plan
Administrator may prescribe

          1.5   "BOARD OF DIRECTORS" means the Board of Directors of the Primary
                Sponsor.

<Page>

          1.6   "CODE" means the Internal Revenue Code of 1986, as amended.

          1.7   "DISABILITY" means the disability of a Member within the meaning
of the Rayovac Profit Sharing and Savings Plan.

          1.8   "EFFECTIVE DATE" means, as to the Primary Sponsor, January 1,
1997 and as to each other Plan Sponsor that adopts the Plan, the date designated
as such by the adopting Plan Sponsor.

          1.9   "ELIGIBLE DIRECTOR" means any member of the Board of Directors
who is not otherwise an Employee.

          1.10  "ELIGIBLE EMPLOYEE" means any Employee of a Plan Sponsor who is
employed at the level of Vice President or above.

          1.11  "EMPLOYEE" means any person who is employed by a Plan Sponsor or
an Affiliate for purposes of the Federal Insurance Contributions Act.

          1.12  "ENTRY DATE" means January 1 and July 1 of each Plan Year, or in
the event of the acquisition of substantially all of the stock or substantially
all of the assets of an entity by a Plan Sponsor, such other date as the Plan
Administrator determines. Upon initial adoption of the Plan, a Plan Sponsor may
designate the Effective Date as an Entry Date.

          1.13  "MEMBER" means any current or former Eligible Employee or
Eligible Director who has become a participant in the Plan for so long as his
benefits hereunder have not been paid out.

          1.14  "NORMAL RETIREMENT AGE" means age 65.

          1.15  "PLAN ADMINISTRATOR" means the organization or person(s)
designated by the Primary Sponsor to administer the Plan.

          1.16  "PLAN SPONSOR" means individually the Primary Sponsor and any
other Affiliate or other entity that has adopted the Plan.

          1.17  "PLAN YEAR" means the calendar year.

          1.18  "RETIREMENT DATE" means the date on which an Eligible Employee
who is a Member retires on or after (a) attaining Normal Retirement Age or (b)
becoming subject to a Disability. In the case of an Eligible Director who is a
Member, Retirement Date means the date on which the Eligible Director ceases to
be a member of the Board of Directors.

          1.19  "VALUATION DATE" means the last day of March, June, September
and December or any other day that the Plan Administrator declares to be a
Valuation Date.

                                        2
<Page>

                                    Section 2
                                   ELIGIBILITY

          2.1   Each Eligible Employee or Eligible Director shall become a
Member as of any Entry Date; provided, however, that an Eligible Employee or
Eligible Director may also become a member as of the first day of the month
following the date he first becomes an Eligible Employee or Eligible Director.

          2.2   A Member who ceases to be an Eligible Employee or Eligible
Director will no longer be eligible to make further deferrals under the Plan
pursuant to Section 3 of the Plan but shall continue to be subject to all other
terms of the Plan so long as he remains a Member of the Plan.

          2.3   In the event a Member participates in a plan of a Plan Sponsor
or Affiliate intended to qualify under Code Section 401(a) and containing a cash
or deferred arrangement qualified under Code Section 401(k), the Member shall be
suspended from continued participation under this Plan to the extent required by
such other plan as a result of a hardship withdrawal made by such Member under
such other plan.

                                    Section 3
                               DEFERRAL ELECTIONS

          3.1   The Plan Sponsor shall credit the Account of each Member who has
elected to defer a portion of Annual Compensation otherwise payable to him for
the Plan Year in the amount of Annual Compensation deferred by the Member under
the Plan. The election to defer Annual Compensation under the Plan must be made
before the services for which the Annual Compensation is payable are performed
and may only be made pursuant to a written agreement between the Member and the
Plan Sponsor that shall be in such form and subject to such rules and
limitations as the Plan Sponsor may prescribe and shall specify the amount of
the Annual Compensation of the Member that the Member desires to defer. The
written agreement shall be irrevocable for the month in respect of which it is
made, although it may be modified, revoked or suspended for subsequent months,
effective as of the first day of the month coinciding with or immediately
following thirty (30) days after the new election is made, and shall continue in
effect for each subsequent month thereafter until modified, revoked or
suspended. Notwithstanding the foregoing, an election may be modified, revoked
or suspended only once each Plan Year, and a Member who revokes or suspends his
election may not make an election to defer Annual Compensation until the next
Entry Date following thirty (30) days after the Member notifies the Plan
Administrator of recommencement of active participation.

                The Plan Sponsor shall also credit the Account of each Member
who has elected to defer all or a portion of a bonus otherwise payable to him in
the amount of the bonus deferred by the Member under the Plan. The election to
defer a bonus under the Plan must be made no later than the time determined by
the Plan Administrator and may only be made pursuant to a written agreement
between the Member and the Plan Sponsor that shall be in the form and subject to
such rules and limitations as the Plan Sponsor may prescribe and shall specify
the amount of the bonus of the Member that the Member desires to defer. The
written agreement shall be irrevocable for the bonus payable in the Plan Year
when made although it may be modified, revoked or suspended for bonuses paid in

                                        3
<Page>

subsequent Plan Years and shall continue in effect for each subsequent Plan Year
until a new election is made no later than the time determined by the Plan
Administrator. For purposes of this Section 3.1, the term bonus shall mean the
annual bonus paid to an Employee by a Plan Sponsor during the Plan Year
disregarding any elections under Code Section 125 or Code Section 401(k).

          3.2   Upon each election by a Member to make a deferral under Section
3.1 of the Plan, the Member shall specify in his written deferral agreement the
date or events upon which his Account will be distributed. In no event shall the
date or event upon which a Member's Account will be distributed be later than a
Member's Retirement Date.

          3.3   An Eligible Employee or Eligible Director who is a Member and
who has not attained a Retirement Date may, with the consent of the Plan
Sponsor, make an election to defer receipt of any payment under the Plan to a
future, specified date or event, not later than the Member's Retirement Date.
Such election must be made no later than 180 days before the beginning of the
Plan Year in which such payment is scheduled to be made.

                                    Section 4
                                    EARNINGS

          4.1   Pursuant to procedures determined by the Primary Sponsor, a
Member may be permitted to select among a range of investment benchmarks
designated by the Primary Sponsor for the purpose of determining an applicable
rate of return to credit earnings to the Member's Account; provided, however,
that at least one investment benchmark shall provide for the fixed rate of
return equal to the average money market rate as reported from time to time in
the WALL STREET JOURNAL, or if no longer published, as reported in a national
recognized daily publication selected by the Plan Administrator (the "Fixed
Rate"). A Member's Account shall be credited with interest at a rate equal to
the Fixed Rate during any period in which no investment benchmarks are offered
to the Member. A Member's Account shall be hypothetically invested in accordance
with the most recent investment benchmark election properly and timely filed by
the Member with the Plan Administrator in accordance with rules and procedures
designated by the Primary Sponsor. If no election has been properly and timely
filed with the Plan Administrator or the investment benchmarks selected by the
Member in the election on file with the Plan Administrator are no longer offered
under the Plan and the Member fails to deliver a new election to the Plan
Administrator by the date specified for delivery thereof, the Member's Account
shall be credited with interest at the Fixed Rate until a subsequent investment
election has been properly and timely delivered to the Plan Administrator in
accordance with the rules and procedures designated by the Primary Sponsor. An
amount equal to the earnings that would be credited to the Member's Account
under the investment benchmarks selected, in accordance with the rules and
procedures designated by the Primary Sponsor, shall be credited to his Account
as of each Valuation Date.

                                        4
<Page>

                                    Section 5
                                   WITHDRAWALS

          5.1   The Plan Administrator may distribute all or a portion of a
Member's Account before the time the Account is otherwise distributable in
accordance with the other provisions of the Plan only if the Member demonstrates
that he is suffering from a hardship. For purposes of this Section, the Plan
Administrator shall have the sole and absolute discretion, which shall be
exercised in a nondiscriminatory and uniform manner, to determine if a hardship
exists with respect to a Member.

          5.2   Hardship distributions shall be made to a Member not more than
once during each Plan Year and only in accordance with such rules, policies,
procedures, restrictions and conditions as the Plan Administrator may from time
to time adopt. Any determination of the existence of hardship and the amount to
be distributed on account thereof shall be made by the Plan Administrator (or
such other person as may be required to make such decisions) in accordance with
the rules applied in a uniform and nondiscriminatory manner. A distribution
under this Section shall be made in a lump sum to the Member.

          5.3   In the event that all or a portion of a Member's Account is
distributable while the Member is an Eligible Employee or Eligible Director as a
result of the occurrence of the date or event specified by the Member in his
written deferral agreement entered into pursuant to Section 3 of the Plan and
the Member has not elected to defer the receipt of that portion of his Account
in accordance with Section 3.3 of the Plan, the Member shall be entitled to the
value of that portion of his Account, determined as of the immediately preceding
Valuation Date, in one lump-sum payment. Notwithstanding the foregoing, a Member
who receives a distribution of all or any portion of his Account pursuant to
this Section 5.3 shall be suspended from making deferrals under Section 3 of the
Plan for the calendar year immediately following the date the Member received a
distribution under this Section 5.3

                                    Section 6
                                 DEATH BENEFITS

          6.1   If a Member dies before the date on which he is entitled to the
commencement of payments of his Account, his Beneficiary shall be entitled to
the full value of the Member's Account.

          6.2   If, subsequent to the death of a Member, the Member's
Beneficiary dies while entitled to receive benefits under the Plan, the
successor Beneficiary, if any, or the Beneficiary listed under Subsection
1.4(a), (b), (c) or (d) of the Plan shall generally be entitled to receive
benefits under the Plan.

          6.3   Any benefit payable under this Section 6 shall be paid in
accordance with and subject to the provisions of Section 7 of the Plan after
receipt by the Plan Administrator of notice of the death of the Member.

                                        5
<Page>

                                    Section 7
                       PAYMENT OF BENEFITS ON RETIREMENT,
                       DEATH OR TERMINATION OF EMPLOYMENT

          7.1   (a)   Upon the Member's death, termination of employment or
                attainment of a Retirement Date, the Member's Account, valued as
                of the immediately preceding Valuation Date, shall be paid to
                the Member according to this Section 7. Payment shall be made no
                later than sixty (60) days following the Member's death,
                termination of employment or Retirement Date.

                (b)   The normal form of payment under the Plan to a Member or
                his Beneficiary under this Section 7 shall be in up to fifteen
                (15) annual installments, as elected by the Member at the time
                such amounts are deferred. While installments are being paid
                under the Plan, the unpaid Account of the Member shall continue
                to be credited with earnings based on the investment benchmark
                selected by the Member in the manner set forth in Section 4 of
                the Plan. Each installment shall be equal to the unpaid value of
                the Account as of the Valuation Date immediately preceding the
                date the installment is paid, divided by the number of unpaid
                installments payable to the Member pursuant to an election under
                this Subsection (b).

                (c)   A Member may elect, with the consent of the Plan
                Administrator, to have his Account distributed a single lump sum
                payment. No election under this Subsection (c) shall be
                effective unless such election is made with respect to the
                payment of a benefit that is to be made in the Plan Year that
                begins at least 180 days following the date the Plan
                Administrator receives written notice of the Member's election
                under this Subsection (c).

          7.2   (a)   If a Member dies at any time after benefit payments have
                commenced under Subsection 7.1(b) of the Plan, the Plan Sponsor
                shall continue payment of the unpaid balance of the Member's
                Account, if any, to his Beneficiary. These payments shall be
                made according to the manner and method by which payments were
                being made to the Member during his lifetime.

                (b)   If the Beneficiary is the estate of the Member, the Plan
                Sponsor shall make payment of the unpaid balance of the Member's
                Account in the form of a single lump sum payment equal to the
                unpaid balance of the Member's Account as of the Valuation Date
                immediately preceding payment.

                                    Section 8
                           ADMINISTRATION OF THE PLAN

          8.1   The Primary Sponsor shall be the Plan Administrator, unless it
appoints another Plan Administrator. If an organization is appointed to serve as
the Plan Administrator, then the Plan Administrator may designate in writing a
person who may act on its behalf. The Primary Sponsor shall

                                        6
<Page>

have the right to remove the Plan Administrator at any time by notice in
writing. The Plan Administrator may resign at any time by written notice or
resignation to the Primary Sponsor. Upon removal or resignation, or in the event
of the dissolution of the Plan Administrator, the Primary Sponsor shall appoint
a successor.

          8.2   (a)   The Plan Administrator shall make all payments under the
                terms of the Plan.

                (b)   The Plan Administrator shall from time to time establish
                rules, not contrary to the provisions of the Plan, for the
                administration of the Plan and the transaction of its business.
                All elections and designations under the Plan by a Participant
                or Beneficiary shall be made on forms prescribed by the Plan
                Administrator. The Plan Administrator shall have discretionary
                authority to construe the terms and intent of the Plan and shall
                determine all questions arising in the administration,
                interpretation and application of the Plan, including, but not
                limited to, those concerning eligibility for benefits, and it
                shall not act so as to discriminate in favor of any person. All
                determinations of the Plan Administrator shall be conclusive and
                binding on all Employees, Directors, Members and Beneficiaries,
                subject to the provisions of the Plan and subject to applicable
                law.

                (c)   The Plan Administrator shall furnish Members and
                Beneficiaries with all disclosures required by ERISA. The Plan
                Administrator shall file, as required, the various reports and
                disclosures concerning the Plan and its operations as required
                by ERISA and by the Code and shall be solely responsible for
                establishing and maintaining all records of the Plan.

                (d)   The statement of the specific duties of a Plan
                Administrator in this Section is not in derogation of any other
                duties of a Plan Administrator under the provisions of the Plan
                or under applicable law.

          8.3   Any action to be taken by the Primary Sponsor or a Plan Sponsor
shall be taken by resolution or written direction duly adopted by its board of
directors or appropriate governing body, as the case may be; provided, however,
that by such resolution or written direction, the board of directors or
appropriate governing body, as the case may be, may delegate to any officer or
other appropriate person of a Plan Sponsor the authority to take any such
actions as may be specified in such resolution or written direction, other than
the power to amend, modify or terminate the Plan or to determine the basis of
any Plan Sponsor contributions.

                                    Section 9
                             CLAIM REVIEW PROCEDURE

          9.1   In the event that a Member or Beneficiary is denied a claim for
benefits under a Plan, the Plan Administrator shall provide to such claimant
written notice of the denial which shall set forth:

                                        7
<Page>

                (a)   the specific reasons for the denial;

                (b)   specific references to the pertinent provisions of the
                 Plan on which the denial is based;

                (c)   a description of any additional material or information
                 necessary for the claimant to perfect the claim and an
                 explanation of why such material or information is necessary;
                 and

                (d)   an explanation of the Plan's claim review procedure.

          9.2   After receiving written notice of the denial of a claim, a
claimant or his representative may:

                (a)   request a full and fair review of such denial by written
                 application to the Plan Administrator;

                (b)   review pertinent documents; and

                (c)   submit issues and comments in writing to the Plan
                 Administrator.

          9.3   If the claimant wishes such a review of the decision denying his
claim to benefits under the Plan, he must submit such written application to the
Plan Administrator within sixty (60) days after receiving written notice of the
denial.

          9.4   Upon receiving such written application for review, the Plan
Administrator may schedule a hearing for purposes of reviewing the claimant's
claim, which hearing shall take place not more than thirty (30) days from the
date on which the Plan Administrator received such written application for
review.

          9.5   At least ten (10) days before the scheduled hearing, the
claimant and his representative designated in writing by him, if any, shall
receive written notice of the date, time and place of such scheduled hearing.
The claimant or his representative, if any, may request that the hearing be
rescheduled, for his convenience, on another reasonable date or at another
reasonable time or place.

          9.6   A claimant requesting a review of the decision denying a claim
for benefits may employ counsel for purposes of the hearing.

          9.7   No later than sixty (60) days following the receipt of the
written application for review, the Plan Administrator shall submit its decision
on the review in writing to the claimant involved and to his representative, if
any; provided, however, a decision on the written application for review may be
extended, in the event special circumstances such as the need to hold a hearing
require an extension of time, to a day no later than one hundred twenty (120)
days after the date of receipt of

                                        8
<Page>

the written application for review. The decision shall include specific reasons
for the decision and specific references to the pertinent provisions of the Plan
on which the decision is based.

                                   Section 10
                  LIMITATION OF ASSIGNMENT, PAYMENTS TO LEGALLY
                 INCOMPETENT DISTRIBUTEE AND UNCLAIMED PAYMENTS

          10.1  No benefit payable under the Plan to any person shall be subject
in any manner to anticipation, alienation, sale, transfer, assignment, pledge,
encumbrance or charge, and any attempt to anticipate, alienate, sell, transfer,
assign, pledge, encumber or charge the same shall be void. No such benefit shall
in any manner be liable for, or subject to, the debts, contracts, liabilities,
engagements or torts of any person. Further, no such benefit shall be subject to
attachment or legal process for, or against, such person, and the same shall not
be recognized under the Plan, except to such extent as may be required by law.

          10.2  If any person who shall be entitled to any benefit under the
Plan shall become bankrupt or shall attempt to anticipate, alienate, sell,
transfer, assign, pledge, encumber or charge such benefit under the Plan, then
the payment of any such benefit in the event a Member or Beneficiary is entitled
to payment shall, in the discretion of the Plan Administrator, cease and
terminate, and in that event the Plan Administrator shall apply the same for the
benefit of such person, his spouse, children, other dependents or any of them in
such manner and in such proportion as the Plan Administrator shall determine.

          10.3  Whenever any benefit that shall be payable under the Plan is to
be paid to or for the benefit of any person who is then a minor or determined to
be incompetent by qualified medical advice, the Plan Administrator need not
require the appointment of a guardian or custodian but shall be authorized to
cause the same to be paid over to the person having custody of such minor or
incompetent, or to cause the same to be paid to such minor or incompetent
without the intervention of a guardian or custodian, or to cause the same to be
paid to a legal guardian or custodian of such minor or incompetent if one has
been appointed or to cause the same to be used for the benefit of such minor or
incompetent.

          10.4  Whenever the Plan Administrator cannot, within a reasonable time
after payments are to commence, locate any person to or for the benefit of whom
such payments are to be made, after making a reasonable effort to locate such
person, the Plan Administrator may deposit the amount to be paid in a savings
account of a bank or savings and loan association to be held in the name of such
person, subject, however, to any applicable escheat laws.

                                   Section 11
                              LIMITATION OF RIGHTS

          Membership in the Plan shall not give any Employee or Director any
right or claim except to the extent that such right is specifically fixed under
the terms of the Plan. The adoption of the Plan by any Plan Sponsor shall not be
construed to give any Employee a right to be continued in

                                        9
<Page>

the employ of a Plan Sponsor or as interfering with the right of a Plan Sponsor
to terminate the employment of any Employee at that time or as interfering with
the right of any Director to continue to serve in such capacity.

                                   Section 12
                     AMENDMENT TO OR TERMINATION OF THE PLAN

          12.1  The Primary Sponsor or any successor thereto reserves the right
at any time to modify or amend or terminate the Plan, including prior to or
following a change of control. No such modifications or amendments shall have
the effect of retroactively changing or depriving Members or Beneficiaries of
benefits already accrued under the Plan. Notwithstanding anything contained in
the Plan to the contrary, upon termination of the Plan each Member's Account
shall be payable to the Member as soon thereafter as is reasonably practicable.
No Plan Sponsor other than the Primary Sponsor shall have the right to so
modify, amend or terminate the Plan. Notwithstanding the foregoing, each Plan
Sponsor may terminate its own participation in the Plan.

          12.2  Each Plan Sponsor other than the Primary Sponsor shall have the
right to terminate its participation in the Plan by resolution of its board of
directors or other appropriate governing body and notice in writing to the
Primary Sponsor. Any termination by a Plan Sponsor shall not be a termination as
to any other Plan Sponsor.

          12.3  If the Plan is terminated by the Primary Sponsor it shall
terminate as to all Plan Sponsors.

                                   Section 13
                         ADOPTION OF PLAN BY AFFILIATES

          Any corporation or other business entity related to the Primary
Sponsor by function or operation and any Affiliate, if the corporation, business
entity or Affiliate is authorized to do so by written direction adopted by the
Board of Directors, may adopt the Plan by action of the board of directors or
other appropriate governing body of such corporation, business entity or
Affiliate. Any adoption shall be evidenced by certified copies of the
resolutions of the foregoing board of directors or governing body indicating the
adoption thereof by adopting corporation, or business entity or Affiliate. The
resolution shall state and define the effective date of the adoption of the Plan
by the Plan Sponsor.

                                   Section 14
                                  MISCELLANEOUS

          14.1  All payments provided under the Plan shall be paid from the
general assets of the applicable Plan Sponsor, and no separate fund shall be
established to secure payment. Notwithstanding the foregoing, the Primary
Sponsor may establish a grantor trust to assist it in funding its obligations
under the Plan, and any payments made to a member or Beneficiary from such trust

                                       10
<Page>

shall relieve the Plan Sponsor from any further obligations under the Plan only
to the extent of such payment.

          14.2  Each Plan Sponsor shall withhold from any benefits payable under
the Plan all federal, state and local income taxes or other taxes required to be
withheld pursuant to applicable law.

          14.3  To the extent not preempted by applicable federal law, the Plan
shall be governed by and construed in accordance with the laws of the State of
Wisconsin.

          IN WITNESS WHEREOF, the Primary Sponsor has caused this agreement to
be executed on December 13, 2001.

ATTEST:                                  RAYOVAC CORPORATION

/s/ James T. Lucke                      By: /s/ Kent J. Hussey
-----------------------------------         -----------------------------------

Title:                                   Title: President and CFO
      -----------------------------            --------------------------------

        [CORPORATE SEAL]

                                       11
<Page>

                                 FIRST AMENDMENT
                                     TO THE
                               RAYOVAC CORPORATION
                           DEFERRED COMPENSATION PLAN

     THIS IS AN AMENDMENT to the Rayovac Corporation Deferred Compensation
Plan (the "Plan") made this 21st day of March, 2002 by Rayovac Corporation
(the "Primary Sponsor"):

                                       1.

     Section 1.7 of the Plan is amended effective as of March 1, 2002 by
deleting the existing provision and by substituting the following:

          "1.7  This Section is intentionally left blank."

                                       2.

     Section 1.18 of the Plan is amended effective as of March 1, 2002 by
deleting the existing provision and by substituting the following:

          "1.18 This Section is intentionally left blank."

                                       3.

     Section 3.2 of the Plan is amended effective with respect to distributions
commencing on or after March 1, 2002 by deleting the second sentence of the
existing provision and by substituting the following:

     "In no event shall the date or event upon which a Member's Account will be
     distributed be after the later of (1) the date on which the Member attains
     Normal Retirement Age or (2) the date on which the Member terminates
     employment."

                                       12
<Page>

                                       4.

     Section 3.3 of the Plan is amended effective as of March 1, 2002 by
deleting the first sentence of the existing provision and by substituting the
following:

     "An Eligible Employee or Eligible Director who is a Member and who has not
     become entitled to a distribution of his Account may, with the consent of
     the Plan Sponsor, make an election to defer receipt of any payment under
     the Plan to a future, specified date or event that shall not be after the
     later of (1) the date on which the Member attains Normal Retirement Age or
     (2) the date on which the Member will terminate employment, including by
     reason of disability."

                                       5.

     Section 5.3 of the Plan is amended effective with respect to distributions
commencing on or after March 1, 2002 by deleting the first sentence of the
existing provision and by substituting the following:

     "In the event that all or a portion of a Member's Account is distributable
     while the Member is an Eligible Employee or Eligible Director as a result
     of the occurrence of the date or event specified by the Member pursuant to
     Section 3 of the Plan, the Member will receive the value of that portion of
     his Account, determined as of the Valuation Date next following the date or
     event giving rise to the distribution, in one lump-sum payment as soon as
     practicable after such Valuation Date."

                                       6.

     Section 7.1 of the Plan is amended effective with respect to distributions
commencing on or after March 1, 2002 by deleting subsection (a) of the existing
provision and by substituting the following:

          "(a)  Upon the occurrence of the date or event specified by the Member
          pursuant to Section 3 of the Plan or, if earlier, the Member's death,
          the Member's Account, valued as of the Valuation Date next following
          the date or event giving rise to the distribution, shall be paid to
          the Member or his Beneficiary according to this Section 7. Payment
          shall be made as soon as practicable following such Valuation Date."

                                       13
<Page>

                                       7.

     Section 7.2 of the Plan is amended effective with respect to distributions
commencing on or after March 1, 2002 by deleting subsection (b) of the existing
section and by substituting the following:

          "(b)  If the Beneficiary is the estate of the Member, the Plan Sponsor
          shall make payment of the unpaid balance of the Member's Account in
          the form of a single lump-sum payment as soon as practicable after the
          Valuation Date next following the date of the Member's death, and such
          payment shall be equal to the unpaid balance of the Member's Account
          as of such Valuation Date."

     IN WITNESS WHEREOF, the Primary Sponsor has caused this amendment to be
executed by its duly authorized representative and its corporate seal to be
hereto affixed the day and year first written above.

PRIMARY SPONSOR                          RAYOVAC CORPORATION

(Corporate Seal)                         By: /s/ Kent J. Hussey
                                             ----------------------------

                                         Title: President and CFO
                                                -------------------------

                                       14
<Page>

[INSERT TO ELECTION FORM]

I elect to have my accounts under the Plan paid to me in the form of:

   _____  annual installments for ____ (up to 15) years, or

   _____  a single lump sum payment
 .

I elect to have the payment(s) specified above made or commence as soon as
administratively feasible after the next valuation date after:

   _____ my termination of employment (including by reason of disability).

   ______________________ (a date certain before I reach age 65).

   ______________________ (a date certain on or after I reach age 65). I
understand that if I terminate employment before this date certain, my accounts
will be paid to me as soon as practicable after the later of (1) the date I
reach age 65 or (2) terminate employment.

I understand that if I die before I begin receiving payments under the Plan, the
full value of my accounts will be paid to my Beneficiary in the form I elect
above as soon as administratively feasible after the next valuation date
following my death.

                                       15
<Page>

                                SECOND AMENDMENT
                                     TO THE
                               RAYOVAC CORPORATION
                           DEFERRED COMPENSATION PLAN

     THIS IS AN AMENDMENT to the Rayovac Corporation Deferred Compensation
Plan (the "Plan") made this 27th day of September, 2002 by Rayovac
Corporation (the "Primary Sponsor") and effective as of such date, except as
otherwise provided below:

                                       1.

     Section 3.1 of the Plan is amended by adding the following at the end of
     the existing provision:

          "The Plan Sponsor may credit the Account of any Member with an
     additional amount as a discretionary non-elective employer contribution at
     such time and in such amount as it may choose. At and after the time any
     such discretionary non-elective contribution is credited to the Account of
     a Member, the contribution shall be treated in the same manner as any
     deferral under this Section 3, including with respect to earnings,
     distribution elections, withdrawals and other payment of the benefit."

                                       2.

     The Plan is amended by deleting the existing Section 3.2 and by
     substituting the following:

          "3.2  Upon each election by a Member to make a deferral under Section
     3.1 or at the time the Account of a Member is credited with a discretionary
     non-elective contribution from the Primary Sponsor as specified in Section
     3.1, the Member shall specify the date or events upon which his Account
     will be distributed on a form acceptable to the Plan Administrator. In no
     event shall the date or event upon which a Member's Account will be
     distributed be after the later of (1) the date on which the Member attains
     Normal Retirement Age or (2) the date on which the Member terminates
     employment."

                                       3.

     Section 7.1(b) of the Plan is amended by deleting the first sentence
thereof and by substituting the following:

                                       16
<Page>

     "The normal form of payment under the Plan to a Member or his Beneficiary
     under this Section 7 shall be in up to fifteen (15) annual installments, as
     elected by the Member at the time such amounts are deferred or credited to
     his Account as an discretionary non-elective contribution under Section
     3.1."

     IN WITNESS WHEREOF, the Primary Sponsor has caused this amendment to be
executed by its duly authorized representative and its corporate seal to be
hereto affixed the day and year first written above.

PRIMARY SPONSOR                          RAYOVAC CORPORATION

(Corporate Seal)                         By: /s/ Kent J. Hussey
                                             ----------------------------

                                         Title: President and COO
                                                -------------------------

                                       17QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 4.23    
  

 
 

Registration Rights Agreement between
  Communications Intelligence Corporation
  and
  Cornell Capital Partners, LP, a Delaware limited partnership    
  

REGISTRATION RIGHTS AGREEMENT  

        REGISTRATION RIGHTS AGREEMENT (this "Agreement"), dated as of
July 23, 2002 by and between COMMUNICATION INTELLIGENCE CORP., a Delaware corporation, with its principal office located at 275 Shoreline Drive
Redwood Shores, California 94065 (the "Company"), and CORNELL CAPITAL PARTNERS, LP, a Delaware limited
partnership (the "Investor"). 

WHEREAS:  

        A.    In connection with the Equity Line of Credit Agreement by and between the parties hereto of even date herewith (the
"Equity Line of Credit Agreement"), the Company has agreed, upon the terms and subject to the conditions of the Equity Line of Credit Agreement, to
issue and sell to the Investor that number of shares of the Company's common stock, par value $            per share (the "Common Stock"),
which can
be purchased pursuant to the terms of the Equity Line Credit Agreement for an aggregate purchase price of up to Fifteen Million Dollars ($15,000,000). Capitalized terms not defined herein shall have
the meaning ascribed to them in the Equity Line of Credit Agreement. 

        B.    To
induce the Investor to execute and deliver the Equity Line of Credit Agreement, the Company has agreed to provide certain registration rights under the Securities Act
of 1933, as amended, and the
rules and regulations there under, or any similar successor statute (collectively, the "1933 Act"), and applicable state securities laws. 

        NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and the Investor hereby agree as follows: 

        1.    DEFINITIONS. 

        As
used in this Agreement, the following terms shall have the following meanings: 

        a.    "Person" means a corporation, a limited liability company, an association, a partnership, an organization, a business, an
individual, a governmental or political subdivision thereof or a governmental agency. 

        b.    "Register," "registered," and
"registration" refer to a registration effected by preparing and filing one or more Registration Statements (as defined below) in compliance with the
1933 Act and pursuant to Rule 415 under the 1933 Act or any successor rule providing for offering securities on a continuous or delayed basis
("Rule 415"), and the declaration or ordering of effectiveness of such Registration Statement(s) by the United States Securities and Exchange
Commission (the "SEC"). 

        c.    "Registrable Securities" means the shares of Common Stock issuable to Investors pursuant to the Equity Line of Credit
Agreement. 

        d.    "Registration Statement" means a registration statement under the 1933 Act which covers the Registrable Securities. 

        2.    REGISTRATION. 

        a.    Mandatory Registration.    The Company shall prepare and file with the SEC a Registration Statement on
Form S-3 or on such other form as is available. The Company shall cause such Registration Statement to be declared effective by the SEC prior to the first sale to Investor of the
Company's Common Stock pursuant to the Equity Line of Credit Agreement. 

        b.    Sufficient Number of Shares Registered.    In the event the number of shares available under a Registration
Statement filed pursuant to Section 2(a) is insufficient to cover all of the Registrable Securities which the Investor has purchased pursuant to the Equity Line of Credit Agreement, the Company
shall amend the Registration Statement, or file a new Registration Statement (on the short form available therefore, if applicable), or both, so as to cover all of such Registrable Securities
which the Investor has purchased pursuant to the Equity Line of Credit 

Agreement as soon as practicable, but in any event not later than fifteen (15) days after the necessity therefore arises. The Company shall use it best efforts to cause such amendment and/or
new Registration Statement to become effective as soon as practicable following the filing thereof. For purposes of the foregoing provision, the number of shares available under a Registration
Statement shall be deemed "insufficient to cover all of the Registrable Securities" if at any time the number of Registrable Securities issuable on an Advance Notice Date is greater than the number of
shares available for resale under such Registration Statement. 

        3.    RELATED OBLIGATIONS. 

        a.    The
Company shall keep the Registration Statement effective pursuant to Rule 415 at all times until the earlier of the date on which the Investor shall be able to
sell all Registrable Securities without regard to the volume limitations under Rule 144 or the Investor shall have sold all the Registrable Securities covered by such Registration Statement
(the "Registration Period"), which Registration Statement (including any amendments or supplements thereto and prospectuses contained therein) shall not
contain any untrue statement of a material fact or omit to state a material fact required to be stated therein, or necessary to make the statements therein, in light of the circumstances in which they
were made, not misleading. 

        b.    The
Company shall prepare and file with the SEC such amendments (including post-effective amendments) and supplements to a Registration Statement and the
prospectus used in connection with such Registration Statement, which prospectus is to be filed pursuant to Rule 424 promulgated under the 1933 Act, as may be necessary to keep such
Registration Statement effective at all times during the Registration Period, and, during such period, comply with the provisions of the 1933 Act with respect to the disposition of all Registrable
Securities of the Company covered by such Registration Statement until the earlier of the date on which the Investor shall be able to sell all Registrable Securities without regard to the volume
limitations under Rule 144 or all of such Registrable Securities shall have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof as set forth
in such Registration Statement. In the case of amendments and supplements to a Registration Statement which are required to be filed pursuant to this Agreement (including pursuant to this
Section 3(b)) by reason of the Company's filing a report on Form 10K, Form 10Q or Form 8-K or any analogous report under the Securities Exchange Act of 1934, as
amended (the "1934 Act"), the Company shall have incorporated such report by reference into the Registration Statement, if applicable, or shall file
such amendments or supplements with the SEC on the same day on which the 1934 Act report is filed which created the requirement for the Company to amend or supplement the Registration Statement. 

        c.    The
Company shall furnish to the Investor without charge, (i) at least one copy of such Registration Statement as declared effective by the SEC and any
amendment(s) thereto, including financial statements and schedules, all documents incorporated therein by reference, all exhibits and each preliminary prospectus, (ii) ten (10) copies of
the final prospectus included in such Registration Statement and all amendments and supplements thereto (or such other number of copies as such Investor may reasonably request) and (iii) such
other documents as such Investor may reasonably request from time to time in order to facilitate the disposition of the Registrable Securities owned by such Investor. 

        d.    The
Company shall use its best efforts to (i) register and qualify the Registrable Securities covered by a Registration Statement under such other securities or
"blue sky" laws of such jurisdictions in the United States as the Investor reasonably requests, (ii) prepare and file in those jurisdictions, such amendments (including
post-effective amendments) and supplements to such registrations and qualifications as may be necessary to maintain the effectiveness thereof during the Registration Period,
(iii) take such other actions as may be necessary to maintain such registrations and qualifications in effect at all times during the Registration Period, and (iv) take all other actions
reasonably necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions; provided, however, that the Company shall not be required in connection 

therewith or as a condition thereto to (w) make any change to its certificate of incorporation or by-laws, (x) qualify to do business in any jurisdiction where it would not
otherwise be required to qualify but for this Section 3(d), (y) subject itself to general taxation in any such jurisdiction, or (z) file a general consent to service of
process in any such jurisdiction. The Company shall promptly notify the Investor of the receipt by the Company of any notification with respect to the suspension of the registration or qualification
of any of the Registrable Securities for sale under the securities or "blue sky" laws of any jurisdiction in the United States or its receipt of actual notice of the initiation or threat of any
proceeding for such purpose. 

        e.    As
promptly as practicable after becoming aware of such event or development, the Company shall notify the Investor in writing of the happening of any event or
development as a result of which the prospectus included in a Registration Statement, as then in effect, includes an untrue statement of a material fact or omission to state a material fact required
to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading (provided that in no event shall such notice contain any
material, nonpublic information), and promptly prepare a supplement or amendment to such Registration Statement to correct such untrue statement or omission, and deliver ten (10) copies of such
supplement or amendment to each Investor. The Company shall also promptly notify the Investor in writing (i) when a prospectus or any prospectus supplement or post-effective
amendment has been filed, and when a Registration Statement or any post-effective amendment has become effective (notification of such effectiveness shall be delivered to the Investor by
facsimile on the same day of such effectiveness), (ii) of any request by the SEC for amendments or supplements to a Registration Statement or related prospectus or related information, and
(iii) of the Company's reasonable determination that a post-effective amendment to a Registration Statement would be appropriate. 

        f.      The
Company shall use its best efforts to prevent the issuance of any stop order or other suspension of effectiveness of a Registration Statement, or the suspension of
the qualification of any of the
Registrable Securities for sale in any jurisdiction within the United States of America and, if such an order or suspension is issued, to obtain the withdrawal of such order or suspension at the
earliest possible moment and to notify the Investor of the issuance of such order and the resolution thereof or its receipt of actual notice of the initiation or threat of any proceeding for such
purpose. 

        g.    At
the reasonable request of the Investor, the Company shall furnish to the Investor, on the date of the effectiveness of the Registration Statement and thereafter from
time to time on such dates as the Investor may reasonably request (i) a letter, dated such date, from the Company's independent certified public accountants in form and substance as is
customarily given by independent certified public accountants to underwriters in an underwritten public offering, and (ii) an opinion, dated as of such date, of counsel representing the Company
for purposes of such Registration Statement, in form, scope and substance as is customarily given in an underwritten public offering, addressed to the Investor. 

        h.    The
Company shall make available for inspection by (i) the Investor and (ii) one firm of accountants or other agents retained by the Investor (collectively,
the "Inspectors") all pertinent financial and other records, and pertinent corporate documents and properties of the Company (collectively, the
"Records"), as shall be reasonably deemed necessary by each Inspector, and cause the Company's officers, directors and employees to supply all
information which any Inspector may reasonably request; provided, however, that each Inspector shall agree, and the Investor hereby agrees, to hold in strict confidence and shall not make any
disclosure (except to an Investor) or use of any Record or other information which the Company determines in good faith to be confidential, and of which determination the Inspectors are so notified,
unless (a) the disclosure of such Records is necessary to avoid or correct a misstatement or omission in any Registration Statement or is otherwise required under the 1933 Act, (b) the
release of such Records is ordered pursuant to a final, non-appealable subpoena or order from a court or government body of competent jurisdiction, or (c) the information in such
Records has been made generally available 

to the public other than by disclosure in violation of this or any other agreement of which the Inspector and the Investor has knowledge. The Investor agrees that it shall, upon learning that
disclosure of such Records is sought in or by a court or governmental body of competent jurisdiction or through other means, give prompt notice to the Company and allow the Company, at its expense, to
undertake appropriate action to prevent disclosure of, or to obtain a protective order for, the Records deemed confidential. 

        i.      The
Company shall hold in confidence and not make any disclosure of information concerning the Investor provided to the Company unless (i) disclosure of such
information is necessary to comply with federal or state securities laws, (ii) the disclosure of such information is necessary to avoid or correct a misstatement or omission in any Registration
Statement, (iii) the release of such information is ordered pursuant to a subpoena or other final, non-appealable order from a court or governmental body of competent jurisdiction,
or (iv) such information has been made generally available to the public other than by disclosure in violation of this Agreement or any other agreement. The Company agrees that it shall, upon
learning that disclosure of such information concerning the Investor is sought in or by a court or governmental body of competent jurisdiction or through other means, give prompt written notice to the
Investor and allow the Investor, at the Investor's expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, such information. 

        j.      The
Company shall use its best efforts either to cause all the Registrable Securities covered by a Registration Statement to be listed on each securities exchange on
which securities of the same class or series issued by the Company are then listed, if any, if the listing of such Registrable Securities is then permitted under the rules of such exchange or to
secure the inclusion for quotation on the National Association of Securities Dealers, Inc., Smallcap for such Registrable Securities. The Company shall pay all fees and expenses in connection
with satisfying its obligation under this Section 3(j). 

        k.    The
Company shall cooperate with the Investor to the extent applicable, to facilitate the timely preparation and delivery of certificates (not bearing any restrictive
legend) representing the Registrable Securities to be offered pursuant to a Registration Statement and enable such certificates to be in such denominations or amounts, as the case may be, as the
Investor may reasonably request and registered in such names as the Investor may request. 

        l.      The
Company shall use its best efforts to cause the Registrable Securities covered by the applicable Registration Statement to be registered with or approved by such
other governmental agencies or authorities as may be necessary to consummate the disposition of such Registrable Securities. 

        m.    The
Company shall otherwise use its best efforts to comply with all applicable rules and regulations of the SEC in connection with any registration hereunder. 

        n.    Within
two (2) business days after a Registration Statement which covers Registrable Securities is ordered effective by the SEC, the Company shall deliver, and
shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable Securities (with copies to the Investor) confirmation that such Registration Statement has been
declared effective by the SEC in the form attached hereto as Exhibit A. 

        o.    The
Company shall take all other reasonable actions necessary to expedite and facilitate disposition by the Investors of Registrable Securities pursuant to a Registration
Statement. 

        4.    OBLIGATIONS OF THE INVESTOR. 

        The
Investor agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3(f) or the first sentence of 3(e), the
Investor will immediately discontinue disposition of Registrable Securities pursuant to any Registration Statement(s) covering such Registrable Securities until the Investor's receipt of the copies of
the supplemented or amended prospectus contemplated by Section 3(e) or receipt of notice that no supplement or amendment is 

required. Notwithstanding anything to the contrary, the Company shall cause its transfer agent to deliver unlegended certificates for shares of Common Stock to a transferee of the Investor in
accordance with the terms of the Equity Line of Credit Agreement in connection with any sale of Registrable Securities with respect to which the Investor has entered into a contract for sale prior to
the Investor's receipt of a notice from the Company of the happening of any event of the kind described in Section 3(f) or the first sentence of 3(e) and for which the Investor has not yet
settled. 

        5.    EXPENSES OF REGISTRATION. 

        All
expenses incurred in connection with registrations, filings or qualifications pursuant to Sections 2 and 3, including, without limitation, all registration, listing and
qualifications fees, printers, legal and accounting fees shall be paid by the Company. 

        6.    INDEMNIFICATION. 

        With
respect to Registrable Securities which are included in a Registration Statement under this Agreement: 

        a.    To
the fullest extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor, the directors, officers, partners, employees,
agents, representatives of, and each Person, if any, who controls the Investor within the meaning of the 1933 Act or the 1934 Act (each, an "Indemnified
Person"), against any losses, claims, damages, liabilities, judgments, fines, penalties, charges, costs, reasonable attorneys' fees, amounts paid in settlement or expenses,
joint or several (collectively, "Claims") incurred in investigating, preparing or defending any action, claim, suit, inquiry, proceeding, investigation
or appeal taken from the foregoing by or before any court or governmental, administrative or other regulatory agency, body or the SEC, whether pending or threatened, whether or not an indemnified
party is or may be a party thereto ("Indemnified Damages"), to which any of them may become subject insofar as such Claims (or actions or proceedings,
whether commenced or threatened, in respect thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue statement of a material fact in a Registration Statement or any
post-effective amendment thereto or in any filing made in connection with the qualification of the offering under the securities or other "blue sky" laws of any jurisdiction in which
Registrable Securities are offered ("Blue Sky Filing"), or the omission or alleged omission to state a material fact required to be stated therein or
necessary to make the statements therein not misleading; (ii) any untrue statement or alleged untrue statement of a material fact contained in any final prospectus (as amended or supplemented,
if the Company files any amendment thereof or supplement thereto with the SEC) or the omission or alleged omission to state therein any material fact necessary to make the statements made therein, in
light of the circumstances under which the statements therein were made, not misleading; or (iii) any violation or alleged violation by the Company of the 1933 Act, the 1934 Act, any other law,
including, without limitation, any state securities law, or any rule or regulation there under relating to the offer or sale of the Registrable Securities pursuant to a Registration Statement (the
matters in the foregoing clauses
(i) through (iii) being, collectively, "Violations"). The Company shall reimburse the Investor and each such controlling person promptly
as such expenses are incurred and are due and payable, for any legal fees or disbursements or other reasonable expenses incurred by them in connection with investigating or defending any such Claim.
Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this Section 6(a): (x) shall not apply to a Claim by an Indemnified Person arising
out of or based upon a Violation which occurs in reliance upon and in conformity with information furnished in writing to the Company by such Indemnified Person expressly for use in connection with
the preparation of the Registration Statement or any such amendment thereof or supplement thereto; (y) shall not be available to the extent such Claim is based on a failure of the Investor to
deliver or to cause to be delivered the prospectus made available by the Company, if such prospectus was timely made available by the Company pursuant to Section 3(e); and (z) shall not
apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent of the Company, which consent shall not be unreasonably withheld. Such indemnity shall
remain in full force and effect 

regardless of any investigation made by or on behalf of the Indemnified Person. In connection with a Registration Statement, the Investor agrees to indemnify, hold harmless and defend, to the same
extent and in the same manner as is set forth in Section 6(a), the Company, each of its directors, each of its officers who signs the Registration Statement and each Person, if any, who
controls the Company within the meaning of the 1933 Act or the 1934 Act (each an "Indemnified Party"), against any Claim or Indemnified Damages to which
any of them may become subject, under the 1933 Act, the 1934 Act or otherwise, insofar as such Claim or Indemnified Damages arise out of or is based upon any Violation, in each case to the extent, and
only to the extent, that such Violation occurs in reliance upon and in conformity with written information furnished to the Company by the Investor expressly for use in connection with such
Registration Statement; and, subject to Section 6(d), the Investor will reimburse any legal or other expenses reasonably incurred by them in connection with investigating or defending any such
Claim; provided, however, that the indemnity agreement contained in this Section 6(b) and the agreement with respect to contribution contained in Section 7 shall not apply to amounts
paid in settlement of any Claim if such settlement is effected without the prior written consent of the Investor, which consent shall not be unreasonably withheld; provided, further, however, that the
Investor shall be liable under this Section 6(b) for only that amount of a Claim or Indemnified Damages as does not exceed the net proceeds to the Investor as a result of the sale of
Registrable Securities pursuant to such Registration Statement. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Indemnified Party.
Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this Section 6(b) with respect to any prospectus shall not inure to the benefit of any
Indemnified Party if the untrue statement or omission of material fact contained in the prospectus was corrected and such new prospectus was delivered to the Investor prior to the Investor's use of
the prospectus to which the Claim relates. 

        b.    To
the fullest extent permitted by law, the Investor agrees to indemnify, hold harmless and defend, to the same extent and in the same manner as is set forth in
Section 6(a), the Company, each of its directors, each of its officers who signs the Registration Statement and each Person, if any, who controls the Company within the meaning of the 1933 Act
or the 1934 Act (each an "Indemnified Party"), against any Claim or Indemnified Damages to which any of them may become subject, under the 1933 Act, the
1934 Act or otherwise, insofar as such Claim or Indemnified Damages arise out of or is based upon any Violation, in each case to the extent, and only to the extent, that such Violation occurs in
reliance upon and in conformity with written information furnished to the Company by the Investor expressly for use in connection with such Registration Statement; and, subject to Section 6(d),
the Investor will reimburse any legal or other expenses reasonably incurred by them in connection with investigating or defending any such Claim; provided, however, that the indemnity agreement
contained
in this Section 6(b) and the agreement with respect to contribution contained in Section 7 shall not apply to amounts paid in settlement of any Claim if such settlement is effected
without the prior written consent of the Investor, which consent shall not be unreasonably withheld; provided, further, however, that the Investor shall be liable under this Section 6(b) for
only that amount of a Claim or Indemnified Damages as does not exceed the net proceeds to the Investor as a result of the sale of Registrable Securities pursuant to such Registration Statement. Such
indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Indemnified Party. Notwithstanding anything to the contrary contained herein, the
indemnification agreement contained in this Section 6(b) with respect to any prospectus shall not inure to the benefit of any Indemnified Party if the untrue statement or omission of material
fact contained in the prospectus was corrected and such new prospectus was delivered to the Investor prior to the Investor's use of the prospectus to which the Claim relates. 

        c.    Promptly
after receipt by an Indemnified Person or Indemnified Party under this Section 6 of notice of the commencement of any action or proceeding (including any
governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified Party shall, if a Claim in respect thereof is to be made against any indemnifying party under this
Section 6, deliver to the indemnifying party a written notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying
party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense thereof with counsel mutually satisfactory to the indemnifying party and the Indemnified
Person or the Indemnified Party, as the case may be; provided, however, that an Indemnified Person or Indemnified Party shall have the right to retain its own counsel with the fees and expenses of not
more than one counsel for such Indemnified Person or Indemnified Party to be paid by the indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying party, the
representation by such counsel of the Indemnified Person or Indemnified Party and the indemnifying party would be inappropriate due to actual or potential differing interests between such Indemnified
Person or Indemnified Party and any other party represented by such counsel in such proceeding. The Indemnified Party or Indemnified Person shall cooperate fully with the indemnifying party in
connection with any negotiation or defense of any such action or claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably available to the Indemnified
Party or Indemnified Person which relates to such action or claim. The indemnifying party shall keep the Indemnified Party or Indemnified Person fully apprised at all times as to the status of the
defense or any settlement negotiations with respect thereto. No indemnifying party shall be liable for any settlement of any action, claim or proceeding effected without its prior written consent;
provided, however, that the indemnifying party shall not unreasonably withhold, delay or condition its consent. No indemnifying party shall, without the prior written consent of the Indemnified Party
or Indemnified Person, consent to entry of any judgment or enter into any settlement or other compromise which does not include as an unconditional term thereof the giving by the claimant or plaintiff
to such Indemnified Party or Indemnified Person of a release from all liability in respect to such claim or litigation. Following indemnification as provided for hereunder, the indemnifying party
shall be subrogated to all rights of the Indemnified Party or Indemnified Person with respect to all third parties, firms or corporations relating to the matter for which indemnification has been
made. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability to the
Indemnified Person or Indemnified Party under this Section 6, except to the extent that the indemnifying party is prejudiced in its ability to defend such action. 

        d.    The
indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and
when bills are received or Indemnified Damages are incurred. 

        e.    The
indemnity agreements contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Party or Indemnified Person against
the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject to pursuant to the law. 

        7.    CONTRIBUTION. 

        To
the extent any indemnification by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution with respect to any amounts for
which it would otherwise be liable under Section 6 to the fullest extent permitted by law; provided, however, that: (i) no seller of Registrable Securities guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent
misrepresentation; and (ii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds received by such seller from the sale of such
Registrable Securities. 

        8.    REPORTS UNDER THE 1934 ACT. 

        With
a view to making available to the Investor the benefits of Rule 144 promulgated under the 1933 Act or any similar rule or regulation of the SEC that may at any time permit
the Investors to sell securities of the Company to the public without registration ("Rule 144") the Company agrees to: 

        a.    make
and keep public information available, as those terms are understood and defined in Rule 144; 

        b.    file
with the SEC in a timely manner all reports and other documents required of the Company under the 1933 Act and the 1934 Act so long as the Company remains subject to
such requirements (it being understood that nothing herein shall limit the Company's obligations under Section 6.3 of the Equity Line of Credit Agreement) and the filing of such reports and
other documents is required for the applicable provisions of Rule 144; and 

        c.    furnish
to the Investor so long as the Investor owns Registrable Securities, promptly upon request, (i) a written statement by the Company that it has complied
with the reporting requirements of Rule 144, the 1933 Act and the 1934 Act, (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents
so filed by the Company, and (iii) such other information as may be reasonably requested to permit the Investor to sell such securities pursuant to Rule 144 without registration. 

        9.    AMENDMENT OF REGISTRATION RIGHTS. 

        Provisions
of this Agreement may be amended and the observance thereof may be waived (either generally or in a particular instance and either retroactively or prospectively), only with
the written consent of the Company and the Investor. Any amendment or waiver effected in accordance with this
Section 9 shall be binding upon the Investor and the Company. No consideration shall be offered or paid to any Person to amend or consent to a waiver or modification of any provision of any of
this Agreement unless the same consideration also is offered to all of the parties to this Agreement. 

        10.  MISCELLANEOUS. 

        a.    A
Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable Securities. If the Company receives
conflicting instructions, notices or elections from two or more Persons with respect to the same Registrable Securities, the Company shall act upon the basis of instructions, notice or election
received from the registered owner of such Registrable Securities. 

        b.    Any
notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be in writing and will be deemed to have
been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated
and kept on file by the sending party); or (iii) one business day after deposit with a nationally recognized overnight 

delivery service, in each case properly addressed to the party to receive the same. The addresses and facsimile numbers for such communications shall be: 

	If to the Company, to:	 	Communication Intelligence Corp.
	

 	
 	

275 Shoreline Drive—Suite 520

Redwood Shores, CA 94065

Attention: Frank Dane

Telephone: 650-802-7737

Facsimile: 419-735-7922
	

With a copy to:	
 	

Davis Wright Tremaine LLP

1300 S.W. Fifth Avenue, 23d Floor

Portland, Oregon 97204

Attention: David C. Baca

Telephone: (503) 241-2300

Facsimile: (503) 778-5299
	

If to the Investor, to:	
 	

Cornell Capital Partners, LP
	

 	
 	

101 Hudson Street—Suite 3606

Jersey City, NJ 07302

Attention:        Mark Angelo

                        Portfolio Manager

Telephone: (201) 985-8300

Facsimile: (201) 985-8266
	

With copy to:	
 	

Butler Gonzalez LLP

1000 Stuyvesant Avenue—Suite 6

Union, NJ 07083

Attention:        David Gonzalez, Esq.

Telephone: (908) 810-8588

Facsimile: (908) 810-0973

        Any
party may change its address by providing written notice to the other parties hereto at least five days prior to the effectiveness of such change. Written confirmation of receipt
(A) given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender's facsimile machine containing the time,
date, recipient facsimile number and an image of the first page of such transmission or (C) provided by a courier or overnight courier service shall be rebuttable evidence of personal service,
receipt by facsimile or receipt from a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively. 

        c.    Failure
of any party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a
waiver thereof. 

        d.    The
corporate laws of the State of Delaware shall govern all issues concerning the relative rights of the Company and the Investor. All other questions concerning the
construction, validity, enforcement and interpretation of this Agreement shall be governed by the internal laws of the State of New Jersey, without giving effect to any choice of law or conflict of
law provision or rule (whether of the State of New Jersey or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New Jersey. Each party
hereby irrevocably submits to the non-exclusive jurisdiction of the Superior Courts of the State of New Jersey, sitting in Hudson County, New Jersey and the Federal District Court for the
District of New Jersey sitting in Newark, New Jersey, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and
hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or
proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. 

Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address for
such notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in
any way any right to serve process in any manner permitted by law. If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall
not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction. EACH
PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT
OR ANY TRANSACTION CONTEMPLATED HEREBY. 

        e.    This
Agreement, the Equity Line of Credit Agreement and the Escrow Agreement constitute the entire agreement among the parties hereto with respect to the subject matter
hereof and thereof. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein and therein. This Agreement, the Equity Line of Credit Agreement
and the Escrow Agreement supersede all prior agreements and understandings among the parties hereto with respect to the subject matter hereof and thereof. 

        f.      This
Agreement shall inure to the benefit of and be binding upon the permitted successors and assigns of each of the parties hereto. 

        g.    The
headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 

        h.    This
Agreement may be executed in identical counterparts, each of which shall be deemed an original but all of which shall constitute one and the same agreement. This
Agreement, once executed by a
party, may be delivered to the other party hereto by facsimile transmission of a copy of this Agreement bearing the signature of the party so delivering this Agreement. 

        i.      Each
party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements,
certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the
transactions contemplated hereby. 

        j.      The
language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent and no rules of strict construction will be
applied against any party. 

        k.    This
Agreement is intended for the benefit of the parties hereto and their respective permitted successors and assigns, and is not for the benefit of, nor may any
provision hereof be enforced by, any other Person. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

        IN WITNESS WHEREOF, the parties have caused this Registration Rights Agreement to be duly executed as of day and year first above written. 

	 	 	COMPANY:

COMMUNICATION INTELLIGENCE CORP.
	

 	
 	

By:	
 	

    

	 	 	Name:	 	 	 	 
	 	 	Title:	 	 	 	 
	

 	
 	
INVESTOR:

CORNELL CAPITAL PARTNERS, LP
	

 	
 	

By: Yorkville Advisors, LLC
	 	 	Its: General Partner
	 	 	 	 	By:	 	    

	 	 	 	 	Name:	 	Mark Angelo
	 	 	 	 	Title:	 	Portfolio Manager

EXHIBIT A  

 FORM OF NOTICE OF EFFECTIVENESS

OF REGISTRATION STATEMENT

[TRANSFER AGENT]

	Attn:	 	    
	 	 

                Re:
COMMUNICATION INTELLIGENCE CORP.

Ladies
and Gentlemen: 

        We
are counsel to Communication Intelligence Corp., a Delaware corporation (the "Company"), and have represented the Company in connection
with that certain Equity Line of Credit Agreement (the "Equity Line of Credit Agreement") entered into by and between the Company and Cornell Capital
Partners, LP (the "Investor") pursuant to which the Company issued to the Investor shares of its Common Stock, par value $            per share
(the
"Common Stock"). Pursuant to the Equity Line of Credit Agreement, the Company also has entered into a Registration Rights Agreement with the Investor
(the "Registration Rights Agreement") pursuant to which the Company agreed, among other things, to register the Registrable Securities (as defined in
the Registration Rights Agreement) under the Securities Act of 1933, as amended (the "1933 Act"). In connection with the Company's obligations under the
Registration Rights Agreement, on                                    ,
the Company filed a Registration Statement on Form            (File
No. 333-                        ) (the
"Registration Statement") with the Securities and Exchange Commission (the "SEC") relating to the
Registrable Securities which names the Investor as a selling stockholder thereunder. 

        In
connection with the foregoing, we advise you that a member of the SEC's staff has advised us by telephone that the SEC has entered an order declaring the Registration Statement
effective under the 1933 Act at [ENTER TIME OF EFFECTIVENESS] on [ENTER DATE OF
EFFECTIVENESS] and we have no knowledge, after telephonic inquiry of a member of the SEC's staff, that any stop order suspending its effectiveness has been issued
or that any proceedings for that purpose are pending
before, or threatened by, the SEC and the Registrable Securities are available for resale under the 1933 Act pursuant to the Registration Statement. 

	 	 	Very truly yours,
	

 	
 	
DAVIS WRIGHT TREMAINE LLP
	

 	
 	

By:	
 	

    

cc:
Cornell Capital Partners, LP

QuickLinks

Exhibit 4.23

Registration Rights Agreement between Communications Intelligence Corporation and Cornell Capital Partners, LP, a Delaware limited partnership

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}]]