Document:

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                                                                    EXHIBIT 10.2

                          REGISTRATION RIGHTS AGREEMENT

         This REGISTRATION RIGHTS AGREEMENT (this "Agreement"), dated as of May
21, 2001, is entered into by and among Visual Data Corporation, a Florida
corporation, with headquarters located at 1291 S.W. 29th Avenue, Pompano Beach,
Florida 33069 (the "Company"), and the undersigned buyer (the "Buyer").

                                    WHEREAS:

         A. In connection with the Securities Purchase Agreement by and among
the parties dated as of May 21, 2001 (the "Securities Purchase Agreement"), the
Company has agreed, upon the terms and subject to the conditions of the
Securities Purchase Agreement, to issue and sell to the Buyer 730,638 shares of
the Company's Common Stock, par value $.0001 per share (the "Common Shares") and
a warrant (the "Warrant") to purchase 146,128 shares of the Company's Common
Stock, par value $.0001 per share (the "Warrant Shares"); and

         B. To induce the Buyer to execute and deliver the Securities Purchase
Agreement, the Company has agreed to provide certain registration rights under
the Securities Act of 1933, as amended, and the rules and regulations
thereunder, 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
Buyer hereby agree as follows:

         1. DEFINITIONS.

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

                  a. "Investor" means a Buyer, any transferee or assignee
thereof to whom a Buyer assigns its rights under this Agreement and who agrees
to become bound by the provisions of this Agreement in accordance with Section 9
and any transferee or assignee thereof to whom a transferee or assignee assigns
its rights under this Agreement and who agrees to become bound by the provisions
of this Agreement in accordance with Section 9.

                  b. "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.

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                  c. "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 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").

                  d. "Registrable Securities" means the Common Shares purchased
pursuant to the Securities Purchase Agreement and the Warrant Shares underlying
the Warrant purchased pursuant to the Securities Purchase Agreement, and any
shares of capital stock issued or issuable with respect to the Common Shares and
Warrant Shares as a result of any stock split, stock dividend, recapitalization,
exchange, anti-dilution rights or similar event or otherwise.

                  e. "Registration Statement" means a registration statement of
the Company filed under the 1933 Act and pursuant to Rule 415.

Capitalized terms used herein and not otherwise defined herein shall have the
respective meanings set forth in the Securities Purchase Agreement.

         2. REGISTRATION.

                  a. MANDATORY REGISTRATION. The Company shall prepare, and, as
soon as practicable but in no event later than forty-five (45) days after the
date hereof, file with the SEC a Registration Statement or Registration
Statements (as is necessary) on Form S-3 covering the resale of all of the
Registrable Securities. In the event that Form S-3 is unavailable for such a
registration, the Company shall use such other form as is available for such a
registration, subject to the provisions of Section 2(e). The initial
Registration Statement prepared pursuant hereto shall register for resale that
number of Company common stock shares equal to the number of Registrable
Securities as of the date immediately preceding the date the Registration
Statement is initially filed with the SEC, subject to adjustment as provided in
Section 3(b). The Company shall use its reasonable best efforts to have the
Registration Statement declared effective by the SEC as soon as practicable, but
in no event later than ninety (90) days after the date hereof.

                  b. [Reserved.]

                  c. ALLOCATION OF REGISTRABLE SECURITIES. The initial number of
Registrable Securities included in any Registration Statement and each increase
in the number of Registrable Securities included therein shall be allocated pro
rata among the Investors based on the number of Registrable Securities held by
each Investor at the time the Registration Statement covering such initial
number of Registrable Securities or increase thereof is declared

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effective by the SEC. In the event that an Investor sells or otherwise transfers
any of such Person's Registrable Securities, each transferee shall be allocated
a pro rata portion of the then remaining number of Registrable Securities
included in such Registration Statement for such transferor. Any Common Shares
included in a Registration Statement and which remain allocated to any Person
which ceases to hold any Registrable Securities shall be allocated to the
remaining Investors, pro rata based on the number of Registrable Securities then
held by such Investors.

                  d. LEGAL COUNSEL. Subject to Section 5 hereof, the Buyer shall
have the right to select one legal counsel to review and oversee any offering
pursuant to this Section 2 ("Legal Counsel"), which shall be Strategic
Investment Counsel, LLC or such other counsel as thereafter designated by the
holders of a majority of Registrabl Securities. The Company shall reasonably
cooperate with Legal Counsel in performing the Company's obligations under this
Agreement.

                  e. INELIGIBILITY FOR FORM S-3. In the event that Form S-3 is
not available for any registration of Registrable Securities hereunder, the
Compan shall (i) register the sale of the Registrable Securities on another
appropriate form and (ii) undertake to register the Registrable Securities on
Form S-3 as soon as such form is available, provided that the Company shall
maintain the effectiveness of the Registration Statement then in effect until
such time as a Registration Statement on Form S-3 covering the Registrable
Securities has been declared effective by the SEC.

                  f. RULE 416. The Company and the Investors each acknowledge
that each Registration Statement prepared in accordance hereunder shall include
an indeterminate number of Registrable Securities pursuant to Rule 416 under the
1933 Act so as to cover any and all Registrable Securities which may become
issuable (i) to prevent dilution resulting from stock splits, stock dividends or
similar transactions and (ii) i permitted by law, by reason of the anti-dilution
provisions contained in Section 9 of the Securities Purchase Agreement and
Warrant in accordance with the terms thereof (collectively, the "Rule 416
Securities"). In this regard, the Company agrees to use all reasonable efforts
to ensure that the maximum number of Registrable Securities which may be
registered pursuant to Rule 416 under the 1933 Act are covered by each
Registration Statement and, absent guidance from the SEC or other definitive
authority to the contrary, the Company shall use all reasonable efforts to
affirmatively support and to not take any position adverse to the position that
each Registration Statement filed hereunder covers all of the Rule 416
Securities. If the Company determines that the Registration Statement filed
hereunder does not cover all of the Rule 416 Securities, the Company shall
immediately (i) provide to each Investor written evidence setting forth the
basis for the Company's position and the authority therefor and (ii) prepare and
file an amendment to such Registration Statement or a new Registration Statement
in accordance with Section 2(g).

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                  g. SUFFICIENT NUMBER OF SHARES REGISTERED. In the event the
number of cover all of the Registrable Securities or an Investor's allocated
portion of the Registrable Securities pursuant to Section 2(c), the Company
shall amend the Registration Statement, or file a new Registration Statement (on
the short form available therefor, if applicable), or both, so as to cover at
least one hundred percent (100%) of such Registrable Securities in each case, as
soon as practicable, but in any event not later than fifteen (15) days after the
necessity therefor arises. The Company shall use it best efforts to cause such
amendment and/or new Registration Statement to become effective as soon as
practicabl 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 is greater than the number of shares
of Company common stock available for resale under such Registration Statement.

         3. RELATED OBLIGATIONS.

         Whenever the Company is obligated to file a Registratio Statement with
the SEC pursuant to Section 2(a) or 2(g), the Company will use its best efforts
to effect the registration of the Registrable Securities in accordance with the
intended method of disposition thereof and, pursuant thereto, the Company shall
have the following obligations:

                  a. The Company shall promptly prepare and file with the SEC a
Registration Statement with respect to the Registrable Securitie (on or prior to
the forty-fifth (45th) day after the date hereof for the registration of
Registrable Securities pursuant to Section 2(a)) and use its best efforts to
cause such Registration Statement relating to the Registrable Securities to
become effective as soon as possible after such filing (but in no event later
than ninety (90) days after the date hereof for the registration of Registrable
Securities pursuant to Section 2(a)), and keep such Registration Statement
effective pursuant to Rule 415 at all times until the earlier of (i) the date as
of which the Investors may sell all of the Registrable Securities without
restriction pursuant to Rule 144(k) promulgated under the 1933 Act (or successor
thereto) or (ii) the date on which the Investors shall have sold all the
Registrable Securities (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 wit 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

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Registrable Securities of the Company covered by such Registration Statement
until such time as all of such Registrable Securities shall have been disposed o
in accordance with the intended methods of disposition by the seller or sellers
thereof as set forth in such Registration Statement.

                  c. The Company shall permit Legal Counsel to review and
comment upon a Registration Statement and all amendments and supplements theret
at least three (3) days prior to their filing with the SEC, and not file any
document in a for to which Legal Counsel reasonably objects. The Company shall
not submit a request for acceleration of the effectiveness of a Registration
Statement or any amendment or supplement thereto without the prior approval of
Legal Counsel, which consent shall not be unreasonably withheld. The Company
shall furnish to Legal Counsel, without charge, (i) any correspondence from the
SEC or the staff of the SEC to the Company or its representatives relating to
any Registration Statement, (ii) promptly after the same is prepared and filed
with the SEC, one copy of any Registration Statement and any amendment(s)
thereto, including financial statements and schedules, all documents
incorporated therein by reference and all exhibits and (iii) upon the
effectiveness of any Registration Statement, one copy of the prospectus included
in such Registration Statement and all amendments and supplements thereto.

                  d. The Company shall furnish to each Investor whose
Registrable Securities are included in any Registration Statement, without
charge, (i) promptly after the same is prepared and filed with the SEC, at least
one copy of such Registration Statement and any amendment(s) thereto, including
financial statements and schedules, all documents incorporated therein by
reference and all exhibits, (ii) upon th effectiveness of any Registration
Statement, ten (10) copies of the 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,
including copies of any preliminary or final prospectus, as such Investor may
reasonably request from time to time in order to facilitate the disposition of
the Registrable Securitie owned by such Investor.

                  e. The Company shall use reasonable 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 Legal Counsel or any 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 othe 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 (x) qualify to do business in any jurisdiction where it would not
otherwise be required to qualify but for this Section 3(e), (y) subject itsel to
general taxation in any such jurisdiction, or (z) file a general consent to
service of proces in any such jurisdiction. The Company shall promptly notify
Legal Counsel and each Investor wh holds Registrable

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Securities of the receipt by the Company of any notification wit 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
threatening of any proceeding for such purpose.

                  f. [Omitted].

                  g. As promptly as practicable after becoming aware of such
event, the Company shall notify Legal Counsel and each Investor in writing of
the happening of any event 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, i light of the circumstances under
which they were made, not misleading, 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 Legal
Counsel and each Investor (or such other number of copies as Legal Counsel or
such Investo may reasonably request). The Company shall also promptly notify
Legal Counsel and each 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 Legal Counsel and each
Investor by facsimile on the same day of such effectiveness and by overnight
mail), (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.

                  h. 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 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 Legal Counsel and each Investor who
holds Registrable Securities being sold (and, in the event of an underwritten
offering, the managing underwriters) 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.

                  i. [Omitted].

                  j. The Company shall make available for inspection by (i) any
Investor, (ii) Legal Counsel and (iii) one firm of accountants or other agents
retained by the Investors (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 hold in strict confidence and shall
not make any

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disclosure (except to an Investor) or use of any Record or other informatio
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 has knowledge. Each 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.

                  k. The Company shall hold in confidence and not make any
disclosure of information concerning an Investor provided to the Company unles
(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 governmenta 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 an Investor is sought in or by a court or governmental body of
competent jurisdiction or through other means, give prompt written notice to
such Investor and allow such Investor, at the Investor's expense, to undertake
appropriate action to prevent disclosure of, or to obtain a protective order
for, such information.

                  l. The Company shall use its best efforts either to (i) 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
(ii) secure designation and quotation of all the Registrable Securities covered
by the Registration Statement on the Principal Market. The Compan shall pay all
fees and expenses in connection with satisfying its obligation under this
Section 3(l).

                  m. [Reserved]

                  n. The Company shall provide a transfer agent and registrar of
all such Registrable Securities not later than the effective date of such
Registration Statement.

                  o. If requested by an Investor, the Company shall (i)
immediately incorporate in a prospectus supplement or post-effective amendment
such information as the

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Investors agree should be included therein relating to the sale and distribution
of Registrable Securities; (ii) make all required filings of such prospectus
supplement or post-effective amendment as soon as notified of the matters to be
incorporated in such prospectus supplement or post-effective amendment; and
(iii) supplement or make amendments to any Registration Statement if requested
by a shareholder of such Registrable Securities.

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

                  q. [Reserved.]

                  r. 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 and the Company shall use its best efforts to file with
the SEC in a timely manner all reports and documents required of the Company
under the 1933 Act and the 193 Act (as defined in Section 6(a)).

                  s. Within three (3) business days after the Registration
Statement which includes the 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 Investors whose Registrable Securities are included in such Registration
Statement) confirmation that the Registration Statement has been declared
effective by the SEC in the form attached hereto as EXHIBIT A.

                  t. [Reserved.]

                  u. 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.

                  v. Notwithstanding anything to the contrary contained in this
Agreement, the Registration Statement shall register only the Registrable
Securities and shares of Company common stock, as set forth on SCHEDULE 3(v),
issued to persons o entities directly in connection with a strategic joint
venture transaction.

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         4. OBLIGATIONS OF THE INVESTORS.

                  a. At least three (3) days prior to the anticipated filing
date of the Registration Statement under Sections 2(a) and 2(g), the Company
shall notify each Investor in writing of the information the Company requires
from each such Investor if such Investor elects to have any of such Investor's
Registrable Securities included in such Registration Statement. It shall be a
condition precedent to the obligations of the Company to complete the
registration pursuant to this Agreement with respect to the Registrable
Securities of a particular Investor that such Investor shall furnish to the
Company such information regarding itself and the Registrable Securities held by
it as shall be reasonably required to effect the registration of such
Registrable Securities and shall execute such documents in connection with such
registration as the Company may reasonably request.

                  b. Each Investor by such Investor's acceptance of the
Registrable Securities agrees to cooperate with the Company as reasonably
requested by the Company in connection with the preparation and filing of any
Registration Statement hereunder, unless such Investor has notified the Company
in writing of such Investor's election to exclude all of such Investor's
Registrable Securities from such Registration Statement.

         5. EXPENSES OF REGISTRATION.

         All reasonable expenses, other than underwriting discounts and
commissions, incurred in connection with registrations, filings or
qualifications pursuant to Sections 2 and 3, including, without limitation, all
registration, listing and qualifications fees, printers and accounting fees, and
fees and disbursements of counsel for the Company and fees and disbursements of
Legal Counsel, shall be paid by the Company.

         6. INDEMNIFICATION.

         In the event any Registrable Securities 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 each Investor who hold such
Registrable Securities, the directors, officers, partners, employees, agents
representatives of, and each Person, if any, who controls any Investor within
the meaning of the 1933 Act or the Securities Exchange Act of 1934, as amended
(the "1934 Act"), and any underwriter (as defined in the 1933 Act) for the
Investors, and the directors and officers of, and each Person, if any, who
controls, any such underwriter within the meaning of the 1933 Ac or the 1934 Act
(each, an "Indemnified Person"), against any losses, claims, damages,
liabilities, judgments, fines, penalties, charges, costs, attorneys' fees,
amounts paid in settlement or expenses, joint or several, (collectively,
"Claims") incurred in investigating, preparing or defending any action,

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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 t 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
preliminary prospectus if used prior to the effective date of such Registration
Statement, or contained in the 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, (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 thereunder relating to the offer or sale of the Registrable
Securities pursuant to a Registration Statement or (iv) any material violation
of this Agreement (the matters in the foregoing clauses (i) through (iv) being,
collectively, "Violations"). The Company shall reimburse the Investors and each
such underwriter or controlling person, promptly as such expenses are incurred
and are due and payable, for any legal fee 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): (i) shall not apply to a Claim b 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 or underwriter for such Indemnified Person
expressly for use in connection with the preparation of the Registration
Statement or any such amendment thereof or supplement thereto, if such
prospectus was timely made available by the Company pursuant to Section 3(d);
(ii) with respect to any preliminary prospectus, shall not inure to the benefit
of any such person from whom the person asserting any such Claim purchased the
Registrable Securities that are the subject thereof (or to the benefit of any
person controlling suc person) if the untrue statement or omission of material
fact contained in the preliminary prospectus was timely corrected in the
prospectus, as then amended or supplemented, and if such prospectus was timely
made available by the Company to the Indemnified Person pursuant to Section
3(d); (iii) 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 then current
prospectus made available by the Company; and (iv) 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 and shall survive
the transfer of the Registrable Securities by the Investors pursuant to Section
9.

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                  b. In connection with any Registration Statement in which an
Investor is participating, each such Investor agrees to severally and not
jointly 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, each Person, if any, who
controls the Company within the meaning of the 1933 Act or the 1934 Act
(collectively and together with an Indemnified Person, an "Indemnified Party"),
against any Claim or Indemnified Damages to which any Indemnified Party may
become subject, under the 1933 Act, the 1934 Act or otherwise, insofar as such
Claim or Indemnified Damages arise out of or are 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 such Investor expressly for use in connection with such Registration
Statement; and, subject to Section 6(d), such 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 thi 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 withou the prior written consent of such
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
such 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
and shall survive the transfer of the Registrable Securities by the Investors
pursuant to Section 9. Notwithstanding anything to the contrary contained
herein, the indemnification agreement contained in this Section 6(b) with
respect to any preliminary prospectus shall not inure to the benefit of any
Indemnified Party if the untrue statement or omission of material fact contained
in the preliminary prospectu was corrected on a timely basis in the prospectus,
as then amended or supplemented.

                  c. The Company shall be entitled to receive indemnities from
underwriters, selling brokers, dealer managers and similar securities industry
professionals participating in any distribution, to the same extent as provided
above, with respect to information such persons so furnished in writing
expressly for inclusion in the Registration Statement.

                  d. 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 an 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

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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 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 Company shall pay reasonable fees for only one separate legal
counsel for the Investors, and such legal counsel shall be selected by the
Investors holding a majority in interest of the Registrable Securities included
in the Registration Statement to which the Claim relates. 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 informatio
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 apprized 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 written consent, provided, however, that th
indemnifying party shall not unreasonably withhold, delay or condition its
consent. No indemnifying party shall, without the 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 part 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 ha 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.

                  e. 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.

                  f. 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 maximu
contribution with respect

                                       12
<PAGE>   13
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 selle 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. LIQUIDATED DAMAGES.

         The company agrees that the Buyer will suffer damages i the Company
fails to fulfill its obligations pursuant to Sections 2(a), 2(g), 3(a), 3(b),
3(e), 3(h), 3(l), 3(u) and 3(v) of this Agreement (a "Registration Default") and
that it would not be possible to ascertain the extent of such damages.
Accordingly, in the event of such failure by the Company to fulfill such
obligations (except as a direct result of the actions or inactions of the Buyer
or Investors), the Company hereby agrees to pay liquidated damages ("Liquidated
Damages") to each Buyer (x) for every 30-day period following the occurrence of
such Registration Default in an amount determined by multiplying (i) $0.041 per
Common Share then held by the Buyer by (ii) the percentage derived by dividing
(A) the actual number of days elapsed from the later of such Registration
Default or the last day of the prior 30-day period, as applicable, to the day
such Registration Default has been completely cured by (B) 30, in cash, or at
the Buyer's option, in the number of shares of Company common stock, if such
issuance will not violate the rules of the Nasdaq Market, equal to the quotient
of (v) the dollar amoun of the Liquidated Damages on the Payment Date (as
defined below) by (w) the closing bid price of the Company's common stock as of
the date of the Registration Default (as quoted in the Principal Market (as
defined in the Securities Purchase Agreement) or the market or exchange where
the Company's common stock is then traded); provided, however, that a
Registration Default under Sections 3(b), 3(e) and 3(h) shall not be deemed to
occur unless (i) the effective registration statement(s) covering the resale of
the Registrable Securities is not available for use by the Investors for fifteen
(15) consecutive trading days or (ii) the effective registration statement(s)
covering the resale of the Registrable Securities is not available for use by
the Investors for thirty-five (35) or more trading days in such calendar year.
The Liquidated Damages payable pursuant hereto shall be payable within five (5)
business days from the end of the calendar month commencing on the first
calendar month in which the Registration Default occurs (each, a "Payment
Date"). In the event the Buyer elects to receive the Liquidated Damages amount
in shares of Company common stock, such shares shall also be

                                       13
<PAGE>   14

considered Common Shares and shall have the registration rights set forth in the
Registration Rights Agreement.

         9. ASSIGNMENT OF REGISTRATION RIGHTS.

         The rights under this Agreement shall be automatically assignable by
the Investors to any transferee of all or any portion of Registrable Securities
if: (i) the Investor agrees in writing with the transferee or assignee to assign
such rights, and a copy of such agreement is furnished to the Company within a
reasonable time after such assignment; (ii) the Company is, within a reasonable
time after such transfer or assignment, furnished with written notice of (a) the
name and address of such transferee or assignee, and (b) the securities with
respect to which such registration rights are being transferred or assigned;
(iii) immediately following such transfer or assignment the further disposition
of such securities by the transferee or assignee is restricted under the 1933
Act and applicable state securities laws; provided, however, that the transferee
or assignee may subsequently transfer or assign all or any portion of the
Registrable Securities if an exemption from registration under the 1933 Act is
applicable to such transfer or assignment; (iv) at or before the time the
Company receives the written notice contemplated by clause (ii) of this sentence
the transferee or assignee agrees in writing with the Company to be bound by all
of the provisions contained herein; and (v) such transfer shall have been made
in accordance with the applicable requirements of the Securities Purchase
Agreement.

         10. AMENDMENT OF REGISTRATION RIGHTS.

         Provisions of this Agreement may be amended an 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 Investors party to this Agreement who then hold a majority of the
Registrable Securities effected in accordance with this Section 10 shall be
binding upo each Investor and the Company. No such amendment shall be effective
to the extent tha it applies to less than all of the holders of the Registrable
Securities. 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 o the parties to this
Agreement.

         11. 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.

                                       14
<PAGE>   15
                  b. Any notices, consents, waivers or othe 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:

                           Visual Data Corporation
                           1291 S.W. 29th Avenue
                           Pompano Beach, Florida 33069
                           Telephone: (954) 917-6655
                           Facsimile: (954) 917-6660
                           Attention: Randy S. Selman

                  With a copy to:

                           Atlas, Pearlman P.A.
                           350 E. Las Olas Blvd., Ste. 1700
                           Ft. Lauderdale, Florida 33301
                           Telephone: (954) 766-7816
                           Facsimile: (954) 766-7800
                           Attention: Joel D. Mayersohn, Esq.

                  If to Legal Counsel:

                           Strategic Investment Counsel, LLC
                           666 Dundee Road, Suite 1901
                           Northbrook, Illinois 60062
                           Telephone: (847) 564-9293
                           Facsimile: (847) 564-5497
                           Attention: Anthony J. Ribaudo

If to a Buyer, to it at the address and facsimile number set forth on the
Schedule of Buyer attached hereto, with copies to the Buyer's representatives as
set forth on the Schedule of Buyer, or at such other address and/or facsimile
number and/or to the attention of such other person as the recipient party has
specified by written notice given to each other party five days prior to the
effectiveness of such change.

                                       15
<PAGE>   16
                  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 Florida shall govern all
issues concerning the relative rights of the Company and its stockholders. All
other questions concerning the construction, validity, enforcement and
interpretation of this Agreement shall be governed by the internal laws of the
State of Florida, withou giving effect to any choice of law or conflict of law
provision or rule (whether of the State o Florida or any other jurisdictions)
that would cause the application of the laws of any jurisdictions other than the
State of Florida.

                  e. This Agreement and the Securities Purchase 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 and the Securities Purchase Agreement supersede all
prior agreements and understandings among the parties hereto with respect to the
subject matter hereof and thereof.

                  f. Subject to the requirements of Section 9, 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 on
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 o 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. All consents and other determinations to be made by the
Investors pursuant to this Agreement shall be made, unless otherwise specified
in this Agreement, by Investors holding a majority of the Registrable
Securities.

                                       16
<PAGE>   17

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

                  l. 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.

                          ***SIGNATURE PAGE FOLLOWS***

                                       17
<PAGE>   18

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

COMPANY:                                 BUYER:

VISUAL DATA CORPORATION                  PROTIUS OVERSEAS LIMITED

By:                                      By:
   ----------------------------------       ------------------------------------
Name:                                    Name:
     --------------------------------         ----------------------------------
Title:                                   Title:
      -------------------------------          ---------------------------------

                                       18<PAGE>   1
                                                                     EXHIBIT 4.8

                    TECHNOLOGY AND PRODUCT LICENSE AGREEMENT

This Technology and Product License Agreement ("Agreement") is made effective
May 25, 2000 (the "Effective Date") by and among Jacada Ltd. ("Jacada"), located
at Droyanov House, 11 Galgalei Haplada St., Herzliya 46766, Israel, and
Cortlandt Reade Technical Corporation, located at 2663 Nostrand Avenue,
Brooklyn, New York 11210 ("Licensor").

RECITALS

A.       Licensor owns certain technology relating to cooperative processing
environments ("CPE").

B.       Jacada wishes to license from the Licensor the CPE technology and
certain products incorporating the CPE technology in order to develop,
manufacture, and market products incorporating the CPE technology.

C.       Licensor wishes to license the CPE technology and certain products
incorporating the CPE technology to Jacada subject to the terms and conditions
set forth in this Agreement.

NOW, THEREFORE, in consideration of the covenants, promises and representations
set forth herein, and for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

1.0      DEFINITIONS

         1.1      "Confidential Information" means (a) information which if
disclosed (i) in tangible form, is clearly marked as confidential or
proprietary, or (ii) in intangible form (such as orally or visually), the
disclosing party identifies as confidential or proprietary at the time of
disclosure and provides a written summary of such information within thirty (30)
days of disclosure and (b) the Jacada Products.

         1.2      "Closing" means the date upon which all of the conditions set
forth in Section 2.1 hereof are satisfied.

         1.3      "CPE Product(s)" means those Product(s) described in
Attachment 1 and all modifications thereto.

         1.4      "Derivative Work" means technology (including software
programs in source code and object code form) derived from the Licensed
Technology by or for Jacada pursuant to Section 4.0 below.

         1.5      "Intellectual Property Rights" means worldwide common law and
statutory rights associated with (i) patents and patent applications; (ii) works
of authorship, including copyrights, copyright applications, copyright
registrations and "moral" rights; (iii) trade and industrial secrets and
confidential information and the protection thereof; (iv) other proprietary
rights relating to intangible intellectual property (specifically excluding
trademarks, tradenames and service marks); (v) analogous rights to those set
forth above; and (vi) divisions, continuations, renewals, reissuances and
extensions of the foregoing (as applicable) now existing or hereafter filed,
issued or acquired.

         1.6      "Jacada Product(s)" means any product(s) made by or for Jacada
that incorporates a portion of the Licensed Technology, including the Derivative
Works, but does not include the Licensed Technology.

         1.7      "Licensed Source Code" means the Source Code described in
Attachment 1 as the "Licensed Source Code".

         1.8      "Licensed Technology" means the CPE Products in Source Code
form and all ideas, methods, concepts, know-how and technology related thereto,
and including the Licensed Source Code and including PAC

<PAGE>   2

Products described in Attachment 1 as the "Licensed Technology" including
Technical Documentation, User Documentation, error corrections and any test
suites provided to Jacada by Licensor hereunder.

         1.9      "PAC" means platform adaptor component products which
incorporate the Licensed Technology as further described in Attachment 1.

         1.10     "Product" means any software or hardware product owned by
Licensor which incorporates the CPE technology. In the case of software,
"Product" includes all computer programs, object code, Source Code, firmware,
listings, all platforms (such as UNIX, MVS, Windows NT, etc.), error
corrections, updates, upgrades, or the like, and documentation with respect to
such Product(s).

         1.11     "Source Code" means program code in high-level computer
language readable by humans skilled in the language. "Source Code" includes
available related technical documentation and tools, including comments,
internal development tools and build environment.

         1.12     "Technical Documentation" means implementation notes, training
materials and technical reference materials associated with Licensed Technology,
as further described in Attachment 1.

         1.13     "User Documentation" means the manuals and other documents
which the Licensor provides with the Licensed Technology for use and reference
by end users.

2.0      CLOSING; CONDITIONS PRECEDENT.

         2.1      Mutual Preconditions to Closing. Each party's obligations to
consummate and effect this Agreement and the transactions contemplated hereby
are subject to the fulfillment and satisfaction at or prior to the Closing of
each of the following conditions:

                  (a)      Each party shall have obtained all corporate and
legal consents necessary to execute and deliver this Agreement and all related
documents and to consummate the transactions contemplated hereby;

                  (b)      The representations and warranties of each party in
this Agreement shall be true and correct in all materials respects on and as of
the Closing as though representations and warranties were made on and as of the
Closing and each party shall have performed and complied in all material
respects with all covenants and obligations of this Agreement required to be
performed and complied with by the Closing.

         2.2      Preconditions to Closing. The obligations of Jacada to
consummate and effect this Agreement and the transactions contemplated hereby
are subject to the fulfillment and satisfaction at or prior to the Closing of
each of the following conditions:

                  (a)      Intellectual Property Agreements. Licensor shall have
produced any and all documentation or agreements which purport to transfer
Intellectual Property Rights in the Licensed Technology to Licensor, including
but not limited to, those listed on Attachment 2;

                  (b)      Third Party Consents. Any and all required consents,
waivers, and approvals including those listed on Attachment 2 shall have been
obtained;

                  (c)      Employment Arrangements. Two persons selected by
Jacada who will support the Licensed Technology shall have entered into
"at-will" employment arrangements reasonably satisfactory to Jacada and subject
to and in compliance with Jacada's standard Human Resources policies and
procedures;

                  (d)      Disclaimers of Ownership. Licensor shall have
delivered to Jacada in a form acceptable to Jacada either (i) certificates from
each of Precise Connectivity Solutions Ltd., Raymond Litvin and Precise Software
Solutions Ltd. (the "Third Parties") which either disclaim any ownership
interest in the Licensed

                                       2
<PAGE>   3

Technology or consent to the terms and conditions of this Agreement or (ii)
evidence that the Third Parties have no ownership rights in the Licensed
Technology;

                  (e)      Delivery by the Licensor. Licensor shall have
delivered the Licensed Technology pursuant to Section 3.0;

                  (f)      Certificate of Licensor. Licensor shall have
delivered to Jacada a certificate executed on behalf of Licensor by its
President and Chief Executive Officer to the effect that, as of the Closing:

                           (i)      all representations and warranties made by
                                    the Licensor in this Agreement are true and
                                    correct in all material respects;

                           (ii)     all covenants and obligations of this
                                    Agreement to be performed by Licensor on or
                                    before such date have been so performed in
                                    all material respects; and

                           (iii)    the conditions set forth in this Section
                                    have been satisfied; and

                  (g)      Project Plan and Implementation Schedule. Licensor
shall have delivered to Jacada and Jacada shall have accepted the Project Plan
and Implementation Schedule for the Project, all as defined and described in
Section 13 hereof.

3.0      DELIVERY.

         3.1      Delivery.

                  (a)      Licensed Technology and Documentation. Licensor will
deliver to Jacada the Licensed Technology in Source Code form no later than the
Effective Date at a location to be designated by Jacada. In addition, Licensor
will provide to Jacada such other documentation and information as may be
reasonably required to enable Jacada to install and test the Licensed Technology
for compliance and acceptance by Jacada.

                  (b)      Means of Delivery. All deliveries to Jacada shall be
made FCA Destination (INCO Terms, 1990) and pursuant to Jacada's written
instructions with respect to form (physical or electronic) and location.

         3.2      Source Code Review. Until the Closing, Jacada shall have the
right to review and evaluate the Licensed Technology. Based on its review,
Jacada may determine in its sole discretion that it does not desire to license
the Licensed Technology. In this event, Jacada shall be entitled to terminate
this Agreement upon written notice to Licensor without liability.

4.0      LICENSE GRANTS AND RESTRICTIONS

         4.1      Source Code License. Licensor grants to Jacada a paid-up,
non-exclusive, perpetual, irrevocable and worldwide license under Licensor's
Intellectual Property Rights to (i) copy, use internally, modify and enhance the
Source Code of the Licensed Technology to create Derivative Works, and to
support the Licensed Technology and integrate the Licensed Technology with
Jacada Products or other products, (ii) compile Source Code of the Licensed
Technology and Derivative Works into object code for use, display,
demonstration, marketing, distribution and sublicensing to third parties through
single or multiple tiers of distribution, and (iii) display, demonstrate,
market, distribute and sublicense Source Code copies of the Licensed Technology
and Derivative Works on any media or via any electronic or other distribution
method now known or later discovered. For the avoidance of doubt, the parties
expressly agree that the foregoing license shall be deemed to grant to Jacada
all of the rights and licenses to the Licensed Technology which are necessary
for Jacada to exercise all of the rights of an owner of the Licensed Technology,
subject to Sections 4.2, 5.1 and 9 hereof. Licensor expressly agrees that the
foregoing license is transferable to any third party (i) in connection with the
transfer by Jacada of any of its product lines in which the Licensed Technology
is incorporated; or (ii) which acquires all or substantially all of its assets
or stock, by operation of law or otherwise.

                                       3
<PAGE>   4

         4.2      Third Party Licenses. Jacada's sublicense agreement(s) shall
be consistent with Jacada's rights and obligations under this Agreement to the
extent permitted in all material respects.

         4.3      Moral Rights. Licensor waives and agrees never to assert,
either during or following the term of this Agreement, any "moral" or equivalent
rights (including, without limitation, rights of attribution, integrity,
disclosure, and withdrawal) or to institute or maintain any action against
Jacada relative to any such rights in the Licensed Technology, Derivative Works,
error corrections or any Jacada Product. To the extent that such rights cannot
be waived by operation of law, Licensor grants Jacada a license to such rights
sufficient to allow Jacada to exercise the rights granted in this Agreement.

         4.4      Technology Audit. Prior to the Closing, Jacada may, upon
reasonable notice to Licensor and at Jacada's sole expense, inspect Licensor's
facilities, its products and support efforts to evaluate and ensure compliance
with this Agreement. Jacada may conduct such inspections either directly through
its own employees or through an independent third party. Jacada will pay for any
such inspection. All such inspections shall be subject to the confidentiality
provisions of this Agreement.

5.0      OWNERSHIP AND PROPRIETARY NOTICES

         5.1      Licensed Technology. Licensor asserts that it is the sole and
exclusive owner of the Licensed Technology and associated Intellectual Property
Rights therein. Jacada agrees that, as between Licensor and Jacada, Licensor is
the owner of the Licensed Technology and Licensor's associated Intellectual
Property Rights. Notwithstanding the foregoing, nothing herein shall be deemed a
transfer or license by Jacada of any Intellectual Property Rights that Jacada
may now possess or acquire in the future which may cover any aspect of the
Licensed Technology or the Derivative Works.

         5.2      Derivative Works. Subject to Licensor's underlying
Intellectual Property Rights in the Licensed Technology, Jacada shall own all
Derivative Works, Jacada Products and associated Intellectual Property Rights
therein. Jacada may register the copyright in Derivative Works in its own name,
identifying Licensor's interest in the Licensed Technology as required by
applicable Copyright Office rules and regulations.

         5.3      Further Assurances. Each party hereby assigns to the other any
Intellectual Property Rights in newly developed technology necessary to effect
the allocation of ownership set forth in this Section 5.0 and shall take such
reasonable additional actions as may be required, if any, to perfect the other's
ownership interest in accordance herewith including, without limitation, the
execution and delivery of necessary and appropriate instruments of assignment
(in recordable form, where necessary). To this end, Licensor hereby irrevocably
designates and appoints Jacada as its agent and attorney-in-fact to act for and
in its behalf and stead to execute, register and file any such applications, and
to do all other lawfully permitted acts to further the registration, prosecution
and issuance of patents, copyrights or similar protections with the same legal
force and effect as if executed by Licensor.

         5.4      Proprietary Notices. Jacada agrees to place on the Jacada
Products or associated Documentation a general acknowledgement of the
proprietary interests of Jacada's suppliers (but not specifically identifying
Licensor). Jacada shall not remove any of Licensor's proprietary notices
embedded in the Licensed Technology which are not visible to end users of the
Jacada Products. Jacada may place its own copyright and other proprietary
notices on the Jacada Products and/or any Derivative Works.

6.0      PAYMENTS.

         6.1      License Fee. In consideration of the licenses granted
hereunder and subject to the terms and conditions of this Agreement, Jacada
shall pay to Licensor as full consideration for such licenses and the covenants
made in connection with the transactions contemplated hereby, a one-time license
fee of One Million Five Hundred Thousand Dollars (US$1,500,000.00) (the "License
Fee"), payable as follows:

                  (a)      Jacada shall pay to Licensor the sum of $500,000.00
at Closing.

                                       4
<PAGE>   5

                  (b)      Upon acceptance by Jacada of the deliverables
described in Section 13, Jacada shall pay to Licensor the sum of $700,000.00.

                  (c)      Three (3) months after the date that the Jacada
Product which incorporates the Licensed Technology is made generally available
by Jacada, Jacada shall pay to Licensor the sum of $300,000.00.

         6.2      Taxes. Licensor shall pay all taxes, levies, or duties
associated with the delivery of the Licensed Technology or the payment of the
License Fee by Jacada hereunder, whether based on gross revenue, the delivery,
possession, or use of the Licensed Technology or otherwise.

         6.3      Expenses. Whether or not the transactions contemplated
hereunder are consummated, all fees and expenses incurred in connection with the
negotiation or effectuation of the terms and conditions of this Agreement and
the transactions contemplated hereby, including without limitation all legal,
accounting, financial, advisory, consulting and other fees and expenses of third
parties, shall be the obligation of the respective party incurring such fees and
expenses.

7.0      MAINTENANCE AND SUPPORT SERVICES.

         7.1      Error Correction and Support Services. In consideration of the
License Fee, Licensor shall provide or cause a third party reasonably acceptable
to Jacada to provide to Jacada all error corrections for the Licensed Technology
which are created by or for Licensor and remain under the control of Licensor.

         7.2      Transfer of Information. Licensor shall provide or cause a
third party reasonably acceptable to Jacada to provide Jacada with reasonable
assistance as necessary to enable Jacada to use and modify the Licensed
Technology and support the Jacada Products as contemplated herein including, as
may be reasonably required, provision of on-site training, engineering support
and available technical documents which remains under Licensor's control. Jacada
acknowledges and agrees that the individuals to be employed by Jacada as
referred to in Section 2.2(c) hereof are intended to provide the transfer of
information required herein in their capacity as employees of Jacada after the
Closing.

8.0      TERM AND TERMINATION.

         8.1      Term of Agreement. The term of this Agreement shall be
perpetual unless terminated sooner in accordance herewith.

         8.2      Termination Prior to Closing.

                  (a)      Pre-Close Termination. Except as provided in Section
8.3 below, this Agreement may be terminated and the transactions contemplated
hereunder abandoned at any time prior to the Closing:

                           (i)      by mutual written consent of Jacada and
                  Licensor;

                           (ii)     by Jacada or by Licensor if: (A) the Closing
                  has not occurred by July 30, 2000; provided, however, that the
                  right to terminate this Agreement under this Section
                  8.2(a)(ii) shall not be available to any party whose action or
                  failure to act has been a principal cause of or resulted in
                  the failure of transactions contemplated hereunder to occur on
                  or before such date and such action or failure constitutes a
                  breach of this Agreement; (B) there shall be a final
                  nonappealable order of a court of competent jurisdiction in
                  effect preventing consummation of the transactions
                  contemplated hereunder, or (C) there shall be any statute,
                  rule, regulation or order enacted, promulgated or issued or
                  deemed applicable to the transactions contemplated hereunder
                  by any government entity that would make consummation of the
                  transactions contemplated hereunder illegal;

                                       5
<PAGE>   6

                           (iii)    by Jacada if there shall be any action
                  taken, or any statute, rule, regulation or order enacted,
                  promulgated or issued or deemed applicable to the transactions
                  contemplated hereunder by any government entity, which would
                  prohibit, materially restrict or otherwise affect Jacada's
                  ability to utilize, practice or exercise the license grants to
                  the Intellectual Property Rights in the Licensed Technology;

                           (iv)     by Jacada if it is not in material breach of
                  its obligations under this Agreement and there has been a
                  material breach of any representation, warranty, covenant or
                  agreement contained in this Agreement on the part of Licensor
                  and such breach has not been cured within ten (10) calendar
                  days after written notice to Licensor (provided that no cure
                  period shall be required for a breach which by its nature
                  cannot be cured);

                           (v)      by Jacada, at its sole option, prior to the
                  Closing; or

                           (vi)     by Licensor if it is not in material breach
                  of its obligations under this Agreement and there has been a
                  material breach of any representation, warranty, covenant or
                  agreement contained in this Agreement on the part of Jacada
                  and such breach has not been cured within ten (10) calendar
                  days after written notice to Jacada (provided that, no cure
                  period shall be required for a breach which by its nature
                  cannot be cured).

                  (b)      Effect. In the event of termination of this Agreement
as provided in Section 8.2(a), this Agreement shall forthwith become void and
there shall be no liability or obligation on the part of Jacada or Licensor,
provided that each party shall remain liable for any breaches of this Agreement;
provided further that, the provisions of Sections 6.3, 9.0, 14.0 and this
Section 8.2(b) shall remain in full force and effect and survive any termination
of this Agreement.

         8.3      Termination After Closing.

                  (a)      Post-Close Termination. If either party fails to
comply with any material term of this Agreement, the other party may terminate
this Agreement following sixty (60) days' written notice to the defaulting party
specifying any such breach unless, within the period of such notice, all
breaches specified therein are remedied. If the breach is one which, by its
nature, cannot be fully remedied in sixty (60) days, the parties shall cooperate
to prepare a mutually acceptable plan to cure the breach during which time and
then pursuant to which breaching party shall undertake diligent good faith
efforts to remedy the breach and continue to use reasonable, good faith and
diligent efforts to promptly remedy the breach. If the parties are unable to
agree upon a plan to remedy the breach following thirty (30) days and the breach
remains unremedied, the non-breaching party may terminate this Agreement. If,
after the parties have agreed upon a remedial plan, the breaching party, fails
to comply with said plan, the non-breaching party may thereafter terminate this
Agreement effective on written notice.

                  (b)      Licensor's Insolvency. In the event Licensor becomes
insolvent, enters into voluntary or involuntary bankruptcy, ceases to conduct
business or assigns its interests in this Agreement to a third party creditor:
(i) Jacada may continue to exercise the license rights granted to it pursuant to
Section 4.0; and (ii) Jacada reserves all rights in the Licensed Technology and
related materials to protect Jacada's interests therein pursuant to Section
365(n) (and any amendment thereto) of the U.S. Bankruptcy Code.

                  (c)      Effect of Termination or Expiration.

                           (i)      Executory Obligations. In the event this
                  Agreement expires or is terminated for any reason, the
                  Parties' executory obligations to each other, except for any
                  outstanding payments due, shall also terminate except as
                  expressly provided in this Section 8.0.

                           (ii)     Upon the expiration or termination of this
                  Agreement for Licensor's material breach, Jacada shall
                  continue to have the rights granted under Section 4.0 and
                  Section 7.0 with respect

                                       6
<PAGE>   7

                  to the Licensed Technology. All licenses and sublicenses
                  granted by Jacada prior to such termination shall remain in
                  full force and effect.

                  (d)      Survival. Section 4.0 (License Grant), Section 5
(Ownership and Proprietary Notices), 9.0 (Confidential Information), 10.0
(Warranty), 11.0 (Indemnification), 12.0 (Limitation of Liability), and 14.0
(Miscellaneous) of this Agreement shall survive any termination or expiration of
the Agreement.

9.0      CONFIDENTIAL INFORMATION

         9.1      Obligation. Except as provided and permitted in this
Agreement, neither party may use, copy, distribute or disclose Confidential
Information it receives from the party under this Agreement, without the prior
written authorization of the disclosing party. Each party must hold in
confidence Confidential Information received from the other and must protect the
confidentiality thereof with the same degree of care that it exercises with
respect to its own information of like importance, but in no event less than
reasonable time, for the term of this Agreement (but in no event more than three
(3) years from the date of receipt of the Confidential Information). Neither
party shall be liable for any inadvertent or unauthorized disclosure of
Confidential Information, provided that it exercises at least the standard of
care set forth above to prevent disclosure and takes reasonable steps to
mitigate any damage and prevent further disclosure.

         9.2      Exceptions. Section 9.1 does not apply to any portion of the
Confidential Information which a receiving party can demonstrate:

                  (a)      is now, or hereafter becomes, through no act or
failure to act on the part of receiving party, generally known in the computer
industry;

                  (b)      was possessed by the receiving party without an
obligation of confidentiality at the time of receiving such Confidential
Information;

                  (c)      is rightfully obtained by the receiving party without
restriction on disclosure; or

                  (d)      is independently developed by receiving party without
any use of the Confidential Information.

         9.3      Employee Access. Each party must inform its employees having
access to the other's Confidential Information of restrictions required to
comply with this Section. The employees shall be contractually required to
comply with this Section. Each party agrees to provide notice to the other
immediately after learning of or having reason to suspect a breach of any of the
restrictions of this Section 9.0.

         9.4      Non-Solicitation, Licensor agrees that it will not solicit any
Jacada employee for employment during the term of this Agreement or for three
(3) years thereafter.

         9.5      Legally Required Disclosures. The receiving party may divulge
Confidential Information pursuant to statute, regulation or the order of a court
of competent jurisdiction, provided that such party notifies the other party.

         9.6      Independent Development. Each party understands that the other
may develop or receive information similar to the Confidential Information.
Subject to copyrights and patent rights of each party, (i) either party may
develop or acquire technology or products, for itself or others, that are
similar to or competitive with the technology or products of the disclosing
party; and (ii) each party is free to use (but not disclose to third parties)
information which may be retained in the unaided memory of recipient's employees
or contractors who have had access to the Confidential Information of the other
party disclosed hereunder; provided, however, that information inherently
disclosed in products shall not be subject to this limitation.

                                       7
<PAGE>   8

         9.7      Distribution. Notwithstanding any other provision of this
Agreement, the parties acknowledge and agree that Jacada may distribute the
Licensed Technology and Derivative Works thereof using any of Jacada's business
models for distributing software.

         9.8      Publicity. Neither party shall disclose the existence or the
terms and conditions of this Agreement to any third party, except as may be
required to implement and enforce the terms of this Agreement, or as may be
required by legal procedure or by law, or as may be required by an existing or
potential investor, acquiring company, bank or other financial institution,
under appropriate non-disclosure terms in connection with a merger, acquisition,
financing, loan agreement or similar corporate transaction. Licensor shall not,
without first obtaining the written consent of the other party, announce this
Agreement in a press release or other promotional material.

10.0     WARRANTIES AND DISCLAIMER OF WARRANTY.

         10.1     Ownership and Non-infringement. As of the Effective Date and
continuing thereafter, Licensor represents and warrants that (i) the Licensed
Technology will not infringe or misappropriate any Intellectual Property Rights
or trademarks of any third party; (ii) Licensor is the sole owner of the
Licensed Technology and has the sole and exclusive right and power to enter into
this Agreement and grant the licenses set forth herein; (iii) except for the
license to Sun Microsystems, Inc. and its distributors in the United Kingdom,
and Licensor's exclusive license grant to PCS, Licensor has not transferred
ownership of, or granted any license of or right to use, or authorized the
retention of any rights to use any Intellectual Property Right in the Licensed
Technology to any other person; and (iv) none of the Intellectual Property
Rights in the Licensed Technology was developed by or on behalf of or using any
grants or subsidies of any governmental entity.

         10.2     Conformity to Documentation. Licensor represents and warrants
that the Licensed Technology conforms to the Technical Documentation in all
material respects.

         10.3     Viruses. Licensor represents and warrants that the Licensed
Technology and associated media contain no computer instructions designed to (a)
disrupt, damage or interfere with use of computer or telecommunications
equipment or facilities, or (b) disrupt or corrupt the use, operation or results
of any computer program.

         10.4     Work Products. With respect to the consulting and development
services to be provided and the Work Products to be developed under Section 13
hereof, Licensor represents and warrants that:

                  (a)      the work to be performed hereunder shall be of the
highest professional quality and will conform to generally accepted standards
for software in the software development field. Any services performed by
Licensor which are determined by Jacada to be of less than the highest
professional quality or which contain errors or defects shall be corrected by
Licensor without charge to Jacada;

                  (b)      the Work Products will contain only (A) original
material created by Licensor or (B) material which has been properly licensed
from third parties and has been used by Licensor consistent with the licenses
for such materials;

                  (c)      the Work Products will be original works, and
Licensor has not entered and will not enter into any contract or agreement which
would prohibit or affect this Agreement or diminish Jacada's rights in and to
the Work Product;

                  (d)      the Work Products have not been assigned, transferred
or otherwise encumbered, and the Work Products, or any portion thereof, do not
infringe any patents, copyrights, trade secrets, or other proprietary rights of
any third party, and Licensor has no reason to believe that any such
infringement or claims thereof could be made by third parties;

                                       8
<PAGE>   9

                  (e)      the Work Products shall conform to any specifications
or other documentation provided by Jacada to Licensor or developed by Licensor
and approved by Jacada, including the specifications to be agreed upon by the
parties in connection with Licensor's obligations under Section 13 hereof; and

                  (f)      the Work Products have not been published,
distributed or disclosed in a manner which would cause the loss of copyright
protection under federal law or a loss of Jacada's ownership or trade secret
rights in the Work Products.

         10.5     No Licenses to Competitors. Licensor warrants and agrees that
during the term of this Agreement it will not license the Licensed Technology to
any of the parties listed on Attachment 3 without the prior written consent of
Jacada.

         10.6     Disclaimer. EXCEPT AS PROVIDED IN THIS AGREEMENT, LICENSOR
DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES INCLUDING, BUT NOT LIMITED TO,
THE WARRANTIES OF DESIGN, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

11.0.        INDEMNIFICATION

         11.1     Indemnification by Licensor. Licensor will indemnify, defend,
and hold harmless at its expense, any and all claims, losses, liabilities,
damages, costs and expenses, including reasonable attorneys' fees and expenses
of investigation (hereinafter individually a "Loss" and collectively "Losses")
incurred by Jacada directly or indirectly as a result of: (i) any claim made or
action brought against Jacada to the extent that it is based on a claim that any
use or distribution or sublicense of the Licensed Technology in accordance with
this Agreement: (A) infringes any third party Intellectual Property Rights or
trademarks; or (B) caused damage to Jacada or a third party; or (ii) any breach
or inaccuracy of a representation or warranty of Licensor contained in this
Agreement. Licensor will indemnify Jacada from any settlements, costs, damages
and fees incurred by Jacada in such action which are attributable to such claim;
provided that Jacada notifies Licensor in writing of the claim, permits Licensor
to defend, compromise or settle the claim and provides all reasonably available
information, assistance and authority to Licensor. Expenses incurred by Jacada
hereunder will be reimbursed by Licensor.

         11.2     Indemnification by Jacada. Jacada will indemnify, defend, and
hold harmless at its expense, any claim made or action brought against Licensor
to the extent that it is based on a claim that any use or distribution of the
Jacada Product in accordance with this Agreement: (i) infringes any third party
intellectual property rights, provided however, that the claim is based upon the
use and distribution of the Jacada Product and the claim is not based upon the
unmodified Licensed Technology. Jacada will indemnify the Licensor from any
settlements, costs, damages and fees incurred by the Licensor in such action
which are attributable to such claim; provided that the Licensor notifies Jacada
in writing of the claim, permits Jacada to defend, compromise or settle the
claim and provides all reasonably available information, assistance and
authority to Jacada.

         11.3     Exceptions. Licensor shall have no obligation to defend or
indemnify Jacada for any claim based on the use of other than the then current
release of the Licensed Technology which is provided to Jacada by Licensor, if
such claim could have been avoided by the use of the current release of the
Licensed Technology (which was similar in terms of product capabilities to the
earlier version) and such version had been made available to Jacada on terms
comparable to those applicable to prior releases (but without additional charge)
but Jacada, with knowledge of the potential claim, chose to retain the prior
version.

         11.3     Remedies. Should the Licensed Technology become, or in
Licensor's reasonable opinion, be likely to become the subject of a claim of
infringement of any Intellectual Property Rights associated with the Licensed
Technology, Licensor shall, at its sole expense either: (i) procure for Jacada
the right to continue to use the Licensed Technology; or (ii) replace or modify
the Licensed Technology to make it non-infringing, provided that the same
functions are performed by the replaced or modified Licensed Technology. If (i)
or (ii) are not reasonably possible or are technically infeasible, respectively,
Licensor shall so notify Jacada in writing and Jacada may elect, at its option,
either to: (a) relinquish Jacada's license to use such Licensed Technology and
Licensor shall fully refund to Jacada any amount paid for such Licensed
Technology; or (b) continue to use the Licensed Technology; provided

                                       9
<PAGE>   10

that Licensor shall have no further obligation to indemnify and defend Jacada
following the date of such notice for such infringement and Jacada shall have no
further obligation to pay any further fees to Licensor.

12.0     LIMITATION OF LIABILITY

EXCEPT FOR DAMAGES ARISING PURSUANT TO A BREACH OF SECTION 10 AND IN CONNECTION
WITH EACH PARTY'S OBLIGATION OF INDEMNITY TO THE OTHER, IN NO EVENT SHALL EITHER
PARTY BE LIABLE FOR AN AMOUNT IN EXCESS OF TWO TIMES (2X) THE TOTAL FEES PAID BY
JACADA FOR THE LICENSED TECHNOLOGY NOR FOR ANY LOST REVENUES, PROFITS OR OTHER
SPECIAL, INCIDENTAL, INDIRECT OR CONSEQUENTIAL DAMAGES ARISING OUT OF THIS
AGREEMENT, EVEN IF A PARTY HAS BEEN ADVISED IN ADVANCE OF THE POSSIBILITY OF
SUCH DAMAGES. Notwithstanding the foregoing, the parties agree that Licensor's
liability for the failure of Licensor to deliver or cause to be delivered
acceptable deliverables under Section 13 hereof shall be limited to the amount
of fees actually paid by Jacada to Licensor hereunder.

13.0     CONSULTING AND DEVELOPMENT SERVICES

         13.1     Services. For the License Fee set forth herein, Licensor
agrees to provide or cause a third party reasonably acceptable to Jacada to
provide the consulting and development services to integrate the Licensed
Technology into the Jacada Products (the "Project") as more particularly
described in a project plan to be developed by Licensor and accepted by Jacada
prior to Closing (the "Project Plan"). The Project Plan shall include the
Implementation Schedule described in Section 13.3. The materials resulting from
Licensor's services are sometimes hereinafter referred to as "Work Product."

         13.2     Ownership.

                  (a)      Licensor agrees that all work performed by it for
Jacada or for including, without limitation, all software, code, and
documentation as well as all program materials, flow charts, notes, outlines,
and the like created in connection therewith and any Confidential Information
developed or generated by Licensor in the course of working for Jacada, shall be
the sole property of Jacada as its creation, translation, compilation or
fixation in a tangible medium of expression. Licensor further agrees that any
inventions or ideas in whole or in part conceived or made by it during or after
the term of its provision of consulting services to Jacada which are made
through the use of any of Jacada's Confidential Information or any of Jacada's
equipment, facilities, or which result from any work performed by Licensor for
Jacada, shall belong exclusively to Jacada and shall be considered part ofthe
Work Product and Jacada's Confidential Information for purposes of this
Agreement.

                  (b)      Jacada shall own all right, title and interest in and
to the Work Products, including all copyrights and proprietary rights therein.
Licensor expressly acknowledges that the parties have agreed that all
copyrightable aspects of the Work Product are to be considered "works made for
hire" within the meaning of the Copyright Act of 1976, as amended (the "Act"),
of which Jacada is to be the "author" within the meaning of such Act. All such
copyrightable works, as well as all copies of such works in whatever medium
fixed or embodied, shall be owned exclusively by Jacada as its creation, and
Licensor hereby expressly disclaims any interest in any of them. Licensor
expressly acknowledges that it is not a joint author and that the Work Products
and all other work created by Licensor hereunder are not joint works under the
Act.

                  (c)      In the event (and to the extent) that any Work
Product or any part or element thereof is found as a matter of law not to be a
"work made for hire" within the meaning of the Act, Licensor hereby conveys and
assigns to Jacada the sole and exclusive right, title and interest in the
ownership to all such Work Products, and all copies of any of them, without
further consideration, and agrees to assist Jacada to register, and from time to
time to enforce, all patents, copyrights and other rights and protections
relating to the Work Product and the Intellectual Property Rights therein in any
and all countries. To that end, Licensor agrees to execute and deliver all
documents requested by Jacada in connection therewith, and irrevocably
designates and appoints Jacada as its agent and attorney-in-fact to act for and
in its behalf and stead to execute, register and file any such applications, and
to do all

                                       10
<PAGE>   11

other lawfully permitted acts to further the registration, prosecution and
issuance of patents, copyrights or similar protections with the same legal force
and effect as if executed by Licensor.

                  (d)      Jacada does not wish to incorporate any unlicensed or
unauthorized materials into its products. Therefore, Licensor agrees that it
will not knowingly disclose to Jacada, or cause Jacada to use any information or
material which is confidential to any third party unless Jacada has a written
agreement with such third party or Jacada otherwise has the right to receive and
use such information. Licensor will not incorporate into Licensor's work any
materials which are subject to the copyrights of any third party unless Jacada
has a written agreement with such third party or otherwise has the right to
receive and use such information.

         13.3     Implementation Schedule. An implementation schedule shall be a
part of the Project Plan and shall set forth the expectations of the parties as
to the timing of the various stages of the Project and delivery of the Work
Product (the "Implementation Schedule"). Licensor recognizes that time and
timely performance are of the essence in this Agreement. Failure by Licensor to
implement and integrate the Licensed Technology with the Jacada Products and
complete the Project according to the Implementation Schedule shall result in
expense and damage to Jacada. Additionally, Licensor shall use its best efforts
to ensure that any such delay does not result in slippage of later deadlines.

         13.4     Acceptance Testing.

                  (a)      Jacada shall conduct the acceptance tests provided
for herein or agreed upon by the parties (the "Acceptance Tests") after Licensor
has certified to Jacada in writing that Licensor's testing of the deliverables
which are part of the Work Product is completed, and that the deliverables are
fully operational and ready for acceptance testing by Jacada. The Acceptance
Tests shall include verification of whether:

                  (i)      the deliverables conform to the specifications and/or
                  the requirements set forth in the Project Plan or other
                  documents;

                  (ii)     the Licensed Technology has been fully integrated
                  into the Jacada Products, and that the integrated product is
                  capable of running on a repetitive basis without failure and
                  meets or exceeds the performance standards set by Jacada; and

                  (iii)    any and all other criteria set forth in any
                  agreed-upon specifications have been met.

                  (c)      Following its receipt of the Licensor's
certification, Jacada shall perform and conduct the Acceptance Tests. Jacada
shall notify Licensor in writing whether the deliverable has passed the
Acceptance Tests. Licensor personnel may be present at such Acceptance Tests at
no cost to Jacada. All Acceptance Tests will be conducted in accordance with the
Implementation Schedule.

                  (d)      If any deliverable fails to pass the Acceptance
Tests, Jacada shall so notify Licensor in writing specifying the nature of such
failure, and Licensor shall have five (5) business days to correct such failure
after which Jacada shall repeat the Acceptance Tests. If the deliverable again
fails to pass the Acceptance Tests, Licensor acknowledges that Jacada shall have
the option to (i) extend Licensor's right to continue attempting to cure the
failures for a specified period of time, however, in no event shall such
extension exceed a period of five (5) Business Days for each such extension, or
(ii) terminate the consulting and development services hereunder, in which event
Jacada shall not owe the payment described in Section 6.1 (b) or (c).

14.0     MISCELLANEOUS

         14.1     Force Majeure. A party is not liable for non-performance of
this Agreement, to the extent to which the nonperformance is caused by events or
conditions beyond that party's control and the party gives prompt written notice
to the other party and makes all reasonable efforts to perform; provided,
however, that if Licensor fails to provide support or development for more than
sixty (60) days, Jacada may offset amounts incurred by it as a result of such
failure to perform against fees otherwise due hereunder.

                                       11
<PAGE>   12

         14.2     Severability. In the event that any part of this Agreement is
found to be unenforceable, such part and the remainder shall continue in effect,
to the extent permissible by law and consistent with the intent of the parties
as of the Effective Date.

         14.3     Relationship of the Parties. No employees, consultants,
contractors or agents of one party shall, as a result of this Agreement, be
considered agents, employees, partners, franchisees or joint venturers of the
other party, nor do they have any authority to bind the other party by contract
or otherwise to any obligation. They will not represent to the contrary, either
expressly, or implicitly.

         14.4     Choice of Law: Jurisdiction and Venue. This Agreement is made
under and shall be governed by and construed in accordance with the laws of the
State of Georgia (except that body of law controlling conflict of laws) and
specifically excluding from application to this Agreement that law known as the
United Nations Convention on the International Sale of Goods. The parties hereby
exclusively and irrevocably submit to, and waive any objection against the
personal jurisdiction of the United States District Court for the Northern
District of Georgia, and the state courts of the State of Georgia for Fulton
County.

         14.5     Import and Export Laws. Licensed Technology, including without
limitation, technical data, is subject to U.S. export control laws and may be
subject to export or import regulation in other countries. The parties agree to
comply strictly with all such regulations and acknowledge that they have the
responsibility to obtain such licenses to export, re-export or import the
Licensed Technology as may be required.

         14.6     Notices. All notices required hereunder must be in writing and
receipt must be confirmed. Notices required with respect to Term and Termination
and Indemnification must be provided by express courier. Notices shall be
provided to the addressesses set forth in the preamble of this Agreement. In
addition, any notice from Licensor to Jacada should be sent to Jacada Inc., 400
Perimeter Center Terrace, Suite 195, Atlanta, GA 30346 USA, Attention: General
Counsel.

         14.7     No Exclusive Remedy. Unless specifically designated, nothing
in this Agreement shall be construed as an exclusive remedy.

         14.8     Counterparts. This Agreement may be executed in counterparts,
each of which will be deemed an original, and all of which will constitute one
agreement.

         14.9     Construction. This Agreement has been negotiated by the
parties and by their respective counsel. This Agreement will be interpreted
without any strict construction in favor of or against either party. The
original of this Agreement has been written in English, and such version shall
be the governing version of the Agreement. To the extent allowed under
applicable law, Licensor waives any right it may have, if any, under any law or
regulation to have this Agreement written in a language other than English.

         14.10    Entire Agreement. This Agreement, including all Attachments
hereto, constitutes the entire agreement between the parties with respect to the
subject matter hereof, and supersedes and replaces all prior and contemporaneous
understandings or agreements, written or oral regarding such subject matter.

         14.11    Amendment and Waiver. Unless otherwise provided herein, this
Agreement may not be modified, amended, or rescinded, in whole or part except by
a written instrument signed by the duty authorized representatives of both
parties. Failure to either party to enforce any provision of this Agreement
shall not be deemed a waiver of future enforcement of that or any other
provision. A waiver shall be effective upon execution by the waiving party.

         14.12    Assignment. Neither party may assign or otherwise transfer any
of its rights or obligations under this Agreement, without the prior written
consent of the other party, except that Jacada may assign this Agreement to any
of its subsidiaries or an affiliated company.

                                       12
<PAGE>   13

         14.13    No Third Party Beneficiaries. This Agreement is made for the
benefit of the parties, and not for the benefit of any third parties unless
otherwise agreed to by the parties.

         14.4     Survival. The terms and conditions of this Agreement and the
obligations, warranties and covenants of the parties set forth herein shall
survive the Closing.

         IN WITNESS WHEREOF the parties have caused this Agreement to be signed
by their duly authorized representatives.

JACADA LTD.                                  CORTLANDT READE TECHNICAL
                                                    CORPORATION

By: /s/                                      By: /s/
   ----------------------------------           --------------------------------

Name: Gideon Hollander                       Name: Pinchus Geller
      -------------------------------              -----------------------------
Title: CEO                                   Title: President
       ------------------------------               ----------------------------

                                       13

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