Document:

AGREEMENT WITH REGARD TO EXERCISE PRICE RESETS
                              AND 4.99% LIMITATION

      THIS AGREEMENT WITH REGARD TO EXERCISE PRICE RESETS AND 4.99% LIMITATION
(the "Agreement") is entered into as of February 9, 2006, by and among Patriot
Scientific Corporation, a corporation duly organized and existing under the laws
of the State of Delaware (the "Company" or "Patriot") and Swartz Private Equity,
LLC (hereinafter referred to as "SPE" or the "Investor").

                                    RECITALS:

      Whereas, PATRIOT and SPE have each entered into certain agreements,
including but not limited to the following agreements and agreements related to
such agreements:

      -     Investment Agreement, dated May 2, 2000 ("Equity Line #2"),

      -     Investment Agreement, dated September 17, 2001 ("Equity Line #3"),

      -     Amended Loan Advance Agreement, dated March 12, 2002

      -     Antidilution Agreement and Addendum to Warrants, dated March 19,
            2003,

      -     Securities Purchase Agreement, dated March 23, 2004,

      -     Debenture in the amount of $723,167.28, dated March 23, 2004 (the
            "SPE Debenture");

      -     Amendment to Warrants dated as of March 24, 2004 (the "First
            Amendment to Warrants");

      -     Amendment to Agreements and Second Amendment to Warrants dated
            November 17, 2004; and

      -     the SPE Warrants (as defined below).

      Whereas, any warrants to purchase common stock of PATRIOT that have been
issued to SPE by Patriot for any reason at any time in the past up through and
including the date hereof, including but not limited to the Outstanding SPE
Warrants (as defined below), are referred to herein as the "SPE Warrants;"

      Whereas, any agreements that have been entered into between Patriot and
SPE at any time up through and including the date hereof, including but not
limited to the above listed agreements, and any Debentures and Warrants issued
by the Company to SPE, including but not limited to the SPE Debenture and the
SPE Warrants, are collectively referred to herein as the "SPE Agreements;"

                                       1
<PAGE>

      Whereas, pursuant to agreements between the parties, PATRIOT issued to
SPE, among other warrants, the following warrants (the "Outstanding SPE
Warrants"), each of which remain outstanding as of the date hereof:

<TABLE>
<CAPTION>
      Holder              Description                Date of Issuance       Warrant #         Fixed Price
      ------              -----------                ----------------       ---------         -----------
<S>                  <C>                                <C>                 <C>                 <C>
      SPE            Snapshot Warrant #7                  1/1/2004          3,051,299            $0.015

      SPE            EL #2 Put #10 Pur Wrrnt             11/9/2001            375,000           $0.0319

      SPE            EL #2 Put #5 Pur Wrrnt               5/2/2001            108,300            $0.033

      SPE            EL #2 Put #9 Put Wrrnt              9/26/2001            225,000            $0.033

      SPE            EL #1 Put #2 Pur Wrrnt             12/23/1999            267,696           $0.0363

      SPE            EL #2 Pur #2 Pur Wrrnt             10/19/2000            125,310           $0.0385

      SPE            EL #2 Put #3 Pur Wrrnt             12/28/2000             23,583           $0.0385

      SPE            EL #2 Put #4 Pur Wrrnt               3/6/2001            266,430           $0.0396

      SPE            Rollover Note Warrant               3/23/2004          8,035,192           $0.0399

      SPE            Snapshot Warrant #6                 10/1/2003          1,557,653             $0.04

      SPE            Snapshot Warrant #8                  4/1/2004          5,240,211             $0.04

      SPE            Note Wrrnt #12                      2/15/2002            206,250           $0.0407

      SPE            Make-Up Warrant                      2/1/2006          7,000,000           $0.0775
</TABLE>

      Whereas, the PARTIES mutually desire to enter into this Agreement.

                                       2
<PAGE>

                                     TERMS:

      NOW, THEREFORE, in consideration of the mutual promises, representations,
warranties, covenants and conditions set forth in Agreement and for other good
and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged:

1. LOWEST RESET PRICE. For purposes hereof, "Fixed Price" shall have the meaning
set forth in the above table in the fourth recital to this Agreement, with
respect to each Warrant listed on such table and shall mean $.0399 with respect
to the SPE Debenture.

2. RESET PROVISION IN THE SPE WARRANTS. Each SPE Warrant is hereby amended to
add the following language to the end of last sentence of the first paragraph of
Section 3 thereof:

      " provided that, after February 1, 2006, the "Lowest Reset Price" shall
      equal the Fixed Price, as defined in that certain Agreement With Regard to
      Exercise Price Resets And 4.99% Limitation (the "Reset Fixing Agreement")
      entered into as of February 9, 2006, by and among Patriot Scientific
      Corporation and Swartz Private Equity, LLC taking into account, as
      appropriate, any adjustments made pursuant to Section 5 hereof."

3. RESET PROVISION IN THE SPE DEBENTURE. The SPE Debenture is hereby amended to
add the following language to the end of Section 1.2(b) thereof:

      "Notwithstanding the above, after February 1, 2006, the "Conversion Price"
      shall be reset to equal the Fixed Price, as defined in that certain
      Agreement With Regard to Exercise Price Resets and 4.99% Limitation (the
      "Reset Fixing Agreement") entered into as of February 9, 2006, by and
      among Patriot Scientific Corporation and Swartz Private Equity, LLC
      (subject to equitable adjustments for stock splits, stock dividends or
      rights offerings by the Borrower relating to the Borrower's securities or
      the securities of any subsidiary of the Borrower, combinations,
      recapitalization, reclassifications, extraordinary distributions and
      similar events), and shall not be reset thereafter except for the above
      specified equitable adjustments"

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<PAGE>

4. EXPANSION OF 4.99% PROVISIONS TO 9.99%. To the extent that any provision in
any of the SPE Agreements limits the ability of SPE, through the exercise of
warrants, the conversion of debentures, or otherwise, to acquire shares of the
Common Stock of the Company, so that SPE cannot at any time be the beneficial
owner of more than 4.99% of the Common Stock of the Company, any and all such
provisions are hereby amended to substitute the figure 9.99% for the figure
4.99%.

5. NO FURTHER MODIFICATION. Except as set forth in this Agreement and in the
Waiver and Agreement entered into by the parties concurrently with this
Agreement, all of the terms and provisions of the SPE Agreements in effect as of
the date of this Agreement shall remain unmodified and in full force and effect.

      IN WITNESS WHEREOF, the undersigned have executed this Agreement as of
this 9th day of February, 2006.

PATRIOT SCIENTIFIC CORP.                       SWARTZ PRIVATE EQUITY, LLC

By:                                            By:
   ------------------------------------           -----------------------------
   David H. Pohl                                  Eric S. Swartz,  Manager
   Chief Executive Officer

By:
   ------------------------------------
   Thomas J. Sweeney
   Chief Financial Officer

                                       4WAIVER AND AGREEMENT

      THIS WAIVER AND AGREEMENT (the "Agreement" or "Waiver and Agreement") is
entered into as of February 9, 2006, by and among Patriot Scientific
Corporation, a corporation duly organized and existing under the laws of the
State of Delaware (the "Company" or "Patriot") and Lincoln Ventures, LLC
(hereinafter referred to as "LVL" or the "Investor").

                                    RECITALS:

      Whereas, pursuant to agreements between the parties, PATRIOT issued
certain warrants and other securities to LVL;

      Whereas, LVL has agreed to waive its rights to receive a portion of the
dividends to which it would otherwise entitled under the terms of the following
warrants (collectively, the "Subject Warrants") which remain outstanding as of
the date hereof:

<TABLE>
<CAPTION>
           Holder               Date of Issuance         Date of Issuance      Number of Shares
           ------               ----------------         ----------------      ----------------
<S>                             <C>                         <C>                    <C>
      Lincoln Ventures          Debt Wrrnt #5                3/24/2003             3,963,414

      Lincoln Ventures          Debt Wrrnt #7                 6/9/2003             2,307,692

      Lincoln Ventures          Debt Wrrnt #12               3/24/2004             3,366,727

      Lincoln Ventures          Debt Warrant #14            11/17/2004             9,431,137

      Lincoln Ventures          Debt Warrant #15            11/18/2004             4,000,000

      Lincoln Ventures          Debt Wrrnt #13               5/11/2004             6,951,428

      Lincoln Ventures          Debt Wrrnt #10              10/21/2003             2,142,857
</TABLE>

      Whereas, the PARTIES mutually desire to enter into this Waiver and
Agreement.

                                     TERMS:

      NOW, THEREFORE, the parties agree as follows:

1. PARTIAL WAIVER OF DIVIDENDS. Section 5(a) of each of the Subject Warrants is
hereby amended and restated to read in full as follows:

      5.    Anti-Dilution Adjustments.

            (a) Distribution. If at any time after the Issue Date hereof, the
Company shall declare or make any distribution of its assets (or rights to
acquire its assets) or shares of its capital stock (other than Common Stock) to
Holders of Common Stock of the Company as a partial liquidating dividend, by way
of return of capital or otherwise (including any dividend or distribution to the
Company's shareholders in cash or shares [or rights to acquire shares] of
capital stock of any other public or private company, including but not limited
to a subsidiary or spin-off of the Company (a "Distribution")), then the Holder
of this Warrant shall be entitled to immediately receive the amount of such
distribution (in kind) which would have been payable to the Holder with respect
to the shares of Common Stock issuable upon a Full Exercise (as defined below)
of this Warrant as of the declaration of such dividend (without regard to any
contractual, legal or regulatory limitations on the amount of such conversion),
had such Holder been the holder of such shares of Common Stock on the record
date for determination of shareholders entitled to such Distribution. For
purposes of this subsection 5(a), with respect to a given Distribution, "Full
Exercise" (i) shall mean a full Cash Exercise, if the Market Price (as defined
herein), as determined on the record date ("Record Date") for determination of
shareholders entitled to the subject Distribution is less than $.15, and (ii)
shall mean a full Cashless Exercise, if the Market Price, as determined on the
Record Date, is greater than or equal to $.15.

                                       1
<PAGE>

2. NO FURTHER MODIFICATION. Except as set forth in this Agreement and/or the
Agreement with regard to Exercise Price Resets and 4.99% Limitation entered into
by the parties concurrently with this Agreement, all of the terms and provisions
of the Subject Warrants in effect as of the date of this Agreement shall remain
unmodified and in full force and effect.

      IN WITNESS WHEREOF, the undersigned have executed this Agreement as of
this 9th day of February, 2006.

COMPANY:                                             LINCOLN VENTURES, LLC
PATRIOT SCIENTIFIC CORPORATION

By:                                                  By:
   ----------------------------------                   ----------------------
   David H. Pohl,                                       Tony A. Adams, Manager
   Chief Executive Officer

By:----------------------------------
   Thomas J. Sweeney,
   Chief Financial Officer

ADDRESS:

Patriot Scientific Corporation
10989 Via Frontera
San Diego, CA 92127
Telephone: (858) 674-5000
Facsimile: (858) 674-5005

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