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                                                               EXHIBIT 4.1

                                    EXHIBIT I

                                 FORM OF WARRANT

THE SECURITIES REPRESENTED BY THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE
SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN
THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
LAWS, OR (B) AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO THE COMPANY, IN A
REASONABLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT
OR APPLICABLE STATE SECURITIES LAWS OR (II) UNLESS SOLD PURSUANT TO RULE 144
UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THIS WARRANT MAY BE PLEDGED IN
CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY THIS
WARRANT.

                                 INTRAWARE, INC.

                        WARRANT TO PURCHASE COMMON STOCK

Warrant No.:                                Number of Shares:
             -----------------------                          ---------
Date of Issuance: __________, 2000

Intraware, Inc., a Delaware corporation (the "COMPANY"), hereby certifies that,
for Ten United States Dollars ($10.00) and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
____________________, the registered holder hereof or its permitted assigns, is
entitled, subject to the terms set forth below, to purchase from the Company, at
the Warrant Exercise Price (as defined below) then in effect, upon surrender of
this Warrant, at any time or times on or after the date hereof, but not after
11:59 P.M. Eastern Time on the Expiration Date (as defined herein), a number of
fully paid nonassessable shares of Common Stock (as defined herein) of the
Company equal to the product of (i) the number of Preferred Shares (as defined
below) purchased by the initial holder of this Warrant on the Closing Date (as
defined in the Securities Purchase Agreement), multiplied by (ii) the quotient
of (A) $4,800, divided by (B) the Warrant Exercise Price then in effect,
multiplied by (iii) the Pricing Period Quotient (the "WARRANT SHARES");
provided, however, that the Company shall not effect the exercise of this
Warrant and no holder of this Warrant shall have the right to exercise this
Warrant to the extent that after giving effect to such exercise, such Person (as
defined below) (together with such Person's affiliates) would have acquired,
through exercise of this warrant or otherwise, beneficial ownership of a number
of shares of Common Stock during the 60-day period ending

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on and including the date this Warrant was exercised (the "60 DAY PERIOD"),
that, when added to the number of shares of Common Stock beneficially owned
by such Person (together with such Person's affiliates) at the beginning of
the 60 Day Period, exceeds 10.00% of the number of shares of Common Stock
outstanding immediately after giving effect to such exercise. For purposes of
the foregoing sentence, the aggregate number of shares of Common Stock
beneficially owned by such Person and its affiliates shall include the number
of shares of Common Stock issuable upon exercise of this Warrant with respect
to which the determination of such sentence is being made, but shall exclude
shares of Common Stock which would be issuable upon (i) exercise of the
remaining, unexercised portion of this Warrant beneficially owned by such
Person and its affiliates and (ii) exercise or conversion of the unexercised
or unconverted portion of any other securities of the Company beneficially
owned by such Person and its affiliates (including, without limitation, any
convertible notes or preferred stock) subject to a limitation on conversion
or exercise analogous to the limitation contained herein. Except as set forth
in the preceding sentence, for purposes of this paragraph, beneficial
ownership shall be calculated in accordance with Section 13(d) of the
Securities Exchange Act of 1934, as amended. For purposes of this Warrant, in
determining the number of outstanding shares of Common Stock a holder may
rely on the number of outstanding shares of Common Stock as reflected in (1)
the Company's most recent Form 10-Q, Form 10-K or other public filing with
the Securities and Exchange Commission, as the case may be, (2) a more recent
public announcement by the Company or (3) any other notice by the Company or
its transfer agent setting forth the number of shares of Common Stock
outstanding. Upon the written request of any holder, the Company shall
promptly, but in no event later than one (1) Business Day following the
receipt of such notice, confirm in writing to any such holder the number of
shares of Common Stock then outstanding. In any case, the number of
outstanding shares of Common Stock shall be determined after giving effect to
conversions of Preferred Shares (as defined below) and exercise of Warrants
(as defined below) by such holder and its affiliates since the date as of
which such number of outstanding shares of Common Stock was reported.

         Section 1.

                 (a)    SECURITIES PURCHASE AGREEMENT. This Warrant is one of
the Warrants (the "PREFERRED SHARE WARRANTS") issued pursuant to Section 1 of
that certain Securities Purchase Agreement dated as of June 29, 2000, among
the Company and the Buyers referred to therein (the "SECURITIES PURCHASE
AGREEMENT").

                 (b)    DEFINITIONS. The following words and terms as used in
this Warrant shall have the following meanings:

                        (i)      "APPROVED  STOCK  PLAN"  shall mean any
stock  option  plan,  restricted stock plan or stock purchase plan which has
been approved by the Board of Directors of the Company, pursuant to which the
Company's securities may be issued to any employee, officer or director for
services provided to the Company.

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                        (ii)     "AVERAGE  CONVERSION PRICE" means, as of any
date of determination,  the average of the Series A Conversion Price, the
Series B Conversion Price and the Series C Conversion Price (as each term is
defined in the Certificate of Designations).

                        (iii) "CERTIFICATE OF DESIGNATIONS" means the
Company's Certificate of Designations, Preferences and Rights for each of its
Series A, Series B and Series C Preferred Stock.

                        (iv) "BUSINESS DAY" means any day other than
Saturday, Sunday or any other day on which commercial banks in the City of
New York are authorized or required by law to remain closed.

                        (v)      "CLOSING BID PRICE" and "CLOSING SALE PRICE"
means,  for any security as of any date, the last closing bid price and last
closing trade price, respectively, for such security on the Principal Market
(as defined below) as reported by Bloomberg Financial Markets ("BLOOMBERG"),
or, if the Principal Market begins to operate on an extended hours basis and
does not designate the closing bid price or the closing trade price, as the
case may be, then the last bid price or last trade price, respectively, of
such security prior to 4:00:00 p.m. Eastern Time as reported by Bloomberg,
or, if the Principal Market is not the principal securities exchange or
trading market for such security, the last closing bid price or last trade
price, respectively, of such security on the principal securities exchange or
trading market where such security is listed or traded as reported by
Bloomberg, or if the foregoing do not apply, the last closing bid price or
last trade price, respectively, of such security in the over-the-counter
market on the electronic bulletin board for such security as reported by
Bloomberg, or, if no last closing bid price or last trade price,
respectively, is reported for such security by Bloomberg, the average of the
bid prices, or the ask prices, respectively, of any market makers for such
security as reported in the "pink sheets" by the National Quotation Bureau,
Inc. If the Closing Bid Price, or the Closing Sale Price, cannot be
calculated for such security on such date on any of the foregoing bases, the
Closing Bid Price or the Closing Sale Price, as the case may be, of such
security on such date shall be the fair market value as mutually determined
by the Company and the holder of this Warrant. If the Company and the holder
of this Warrant are unable to agree upon the fair market value of such
security, then such dispute shall be resolved pursuant to Section 2(a) below
with the term "Closing Bid Price" or "Closing Sale Price" being substituted
for the term "Warrant Exercise Price." All such determinations to be
appropriately adjusted for any stock dividend, stock split or other similar
transaction during such period.

                        (vi) "COMMON STOCK" means (i) the Company's common
stock, par value $0.0001 per share, and (ii) any capital stock into which
such Common Stock shall have been changed or any capital stock resulting from
a reclassification of such Common Stock.

                        (vii) "COMMON STOCK DEEMED OUTSTANDING" means, at any
given time, the number of shares of Common Stock actually outstanding at such
time, plus the number of shares of Common Stock deemed to be outstanding
pursuant to Sections 8(b)(i) and 8(b)(ii) hereof regardless of whether the
Options or Convertible Securities are actually exercisable at such time,

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but excluding any shares of Common Stock owned or held by or for the account
of the Company or issuable upon conversion of the Preferred Shares or
exercise of the Warrants

                        (viii) "CONVERTIBLE SECURITIES" means any stock or
securities (other than Options) directly or indirectly convertible into or
exchangeable for Common Stock.

                        (ix)     "EXCLUDED  SECURITY"  means  (X) any of the
following,  but only to the extent that such securities are issued or sold,
or in accordance with Section 8 are deemed to have been issued or sold, for a
consideration per share greater than the Warrant Exercise Price on the date
of such issuance or sale: (a) any issuance by the Company of securities in
connection with a strategic partnership or joint venture in which there is a
significant commercial relationship with the Company, (b) any issuance by the
Company of securities as consideration for a merger or consolidation or the
acquisition of a business, product, license or other asset of another Person,
(c) any issuance by the Company of securities in a firm commitment,
underwritten public offering with net proceeds to the Company of at least
$25,000,000 by an underwriter which is listed in the most recently issued
report by Securities Data Corporation as one of the top 20 underwriters,
based on dollar amount raised, for U.S. equity offerings, (d) any issuance by
the Company of shares of Common Stock for a consideration per share which is
greater than 85% of the Closing Bid Price of the Common Stock on the date of
such issuance and which is not issued concurrent with or in connection with
any other equity security or component, including, without limitation, rights
to receive additional equity securities, or (e) any issuance by the Company
of securities to a personnel recruiting firm or to a landlord of the Company
or in connection with an asset backed financing, a loan by an institutional
lender or a lease by a leasing company, provided that the aggregate amount of
such securities described in this clause (e) does not exceed 100,000 shares
of Common Stock (as adjusted for any stock splits, stock dividends, stock
combinations or other similar transactions), on an as-converted basis; and
(Y) any issuance by the Company of securities in connection with the
acquisition of Janus Technologies.

                        (x) "EXPIRATION DATE" means the date four (4) years
after the date of issuance of this Warrant or, if such date falls on a
Saturday, Sunday or other day on which banks are required or authorized to be
closed in the City of New York or the State of New York or on which trading
does not take place on the Principal Market (a "HOLIDAY"), the next date that
is not a Holiday; provided that the Expiration Date shall be increased by the
aggregate number of days of all Grace Periods (as defined in Section 3(t) of
the Registration Rights Agreement).

                        (xi)     "OPTIONS"  means any  rights,  warrants or
options to  subscribe  for or purchase Common Stock or Convertible Securities.

                        (xii) "OTHER SECURITIES" means (A) those options and
warrants of the Company issued prior to, and outstanding on, the date of
issuance of this Warrant, (B) the shares of Common Stock issued upon exercise
of such options and warrants, provided such options and warrants are not
amended in any material way after the issuance date of this Warrant, (C) the
Preferred Shares and (D) the shares of Common Stock issued upon conversion of
the Preferred Shares or the exercise of the Preferred Share Warrants.

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                        (xiii) "PERSON" means an individual, a limited
liability company, a partnership, a joint venture, a corporation, a trust, an
unincorporated organization and a government or any department or agency
thereof.

                        (xiv) "PREFERRED SHARES" means the shares of the
Company's Series A, Series B and Series C Preferred Stock, par value $0.0001
per share, issued pursuant to the Securities Purchase Agreement.

                        (xv) "PRICING DATE" means the last trading day in the
Series C Pricing Period (as defined in the Certificate of Designations for
the Company's Series C Preferred Stock), giving effect to the completion of
the Series C Pricing Period.

                        (xvi) "PRICING PERIOD QUOTIENT" means (A) on or prior
to the Pricing Date, one (1), or (B) after the Pricing Date, the quotient of
(I) the sum of the number of trading days in the Series A Pricing Period (as
defined in the Certificate of Designations, Preferences and Rights for the
Company's Series A Preferred Stock), plus the number of trading days in the
Series B Pricing Period (as defined in the Certificate of Designations,
Rights and Preferences of the Company's Series B Preferred Stock), plus the
number of trading days in the Series C Pricing Period (as defined in the
Certificate of Designations, Preferences and Rights of the Company's Series C
Preferred Stock), divided by (II) 60.

                        (xvii)    "PRINCIPAL  MARKET"  means the Nasdaq
National  Market or if the Common Stock is not traded on the Nasdaq National
Market, then the principal securities exchange or trading market for the
Common Stock.

                        (xviii) "REGISTRATION RIGHTS AGREEMENT" means that
certain Registration Rights Agreement  dated June 29,  2000 by and among the
Company and the  initial  holders of the  Preferred  Share Warrants.

                        (xix) "SECURITIES ACT" means the Securities Act of
1933, as amended.

                        (xx) "WARRANT" means this Warrant and all Warrants
issued in exchange, transfer or replacement hereof.

                        (xxi) "WARRANT EXERCISE PRICE," with respect to any
Warrant Share, shall be equal to (A) on or prior to the Pricing Date, the
Average Conversion Price as of the date of issuance of this Warrant, or (B)
after the Pricing Date, the Average Conversion Price as of the Pricing Date,
in each case subject to adjustment as provided in this Warrant.

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                 (c)    OTHER DEFINITIONAL PROVISIONS.

                        (i)      Except as otherwise  specified herein,  all
references herein (A) to the Company shall be deemed to include the Company's
successors and (B) to any applicable law defined or referred to herein, shall
be deemed references to such applicable law as the same may have been or may
be amended or supplemented from time to time.

                        (ii)     When  used  in  this  Warrant, the  words
"HEREIN," "HEREOF," and "hereunder," and words of similar import, shall refer
to this Warrant as a whole and not to any provision of this Warrant, and the
words "SECTION," "SCHEDULE," and "EXHIBIT" shall refer to Sections of, and
Schedules and Exhibits to, this Warrant unless otherwise specified.

                        (iii)     Whenever the context so requires, the
neuter gender includes the masculine or feminine, and the singular number
includes the plural, and vice versa.

         Section 2.     EXERCISE OF WARRANT.

                 (a)    Subject to the terms and conditions hereof, this
Warrant may be exercised by the holder hereof then registered on the books of
the Company, in whole or in part, at any time on any Business Day on or after
the opening of business on the date hereof and prior to 11:59 P.M. Eastern
Time on the Expiration Date by (i) delivery of a written notice, in the form
of the subscription form attached as EXHIBIT A hereto (the "EXERCISE
NOTICE"), of such holder's election to exercise this Warrant, which notice
shall specify the number of Warrant Shares to be purchased, (ii) (A) payment
to the Company of an amount equal to the applicable Warrant Exercise Price
multiplied by the number of Warrant Shares as to which this Warrant is being
exercised (the "AGGREGATE EXERCISE PRICE") in cash or wire transfer of
immediately available funds or (B) by notifying the Company that this Warrant
is being exercised pursuant to a Cashless Exercise (as defined in Section
2(f)) and (iii) the surrender to a common carrier for overnight delivery to
the Company, as soon as practicable following such date, of this Warrant (or
an indemnification undertaking with respect to this Warrant in the case of
its loss, theft or destruction). In the event of any exercise of the rights
represented by this Warrant in compliance with this Section 2(a), the Company
shall on the second Business Day following the date of receipt of the
Exercise Notice, the Aggregate Exercise Price (or notice of a Cashless
Exercise) and this Warrant (or an indemnification undertaking with respect to
this Warrant in the case of its loss, theft or destruction) (the "EXERCISE
DELIVERY DOCUMENTS"), credit such aggregate number of shares of Common Stock
to which the holder shall be entitled to the holder's or its designee's
balance account with The Depository Trust Company; provided, however, if the
holder who submitted the Exercise Notice requested physical delivery of any
or all of the Warrant Shares, then the Company shall, on or before the second
Business Day following receipt of the Exercise Delivery Documents issue and
surrender to a common carrier for overnight delivery to the address specified
in the Exercise Notice, a certificate, registered in the name of the holder,
for the number of shares of Common Stock to which the holder shall be
entitled pursuant to such request. Upon delivery of the Exercise Notice and
Aggregate Exercise Price referred to in clause (ii)(A) above or notification
to the Company of a Cashless Exercise referred to in Section 2(f), the holder
of this

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Warrant shall be deemed for all corporate purposes to have become the holder
of record of the Warrant Shares with respect to which this Warrant has been
exercised, irrespective of the date of delivery of this Warrant as required
by clause (iii) above or the certificates evidencing such Warrant Shares. In
the case of a dispute as to the determination of the Warrant Exercise Price
or the arithmetic calculation of the Warrant Shares, the Company shall
promptly issue to the holder the number of shares of Common Stock that is not
disputed and shall transmit an explanation of the disputed determinations or
arithmetic calculations to the holder via facsimile within one Business Day
of receipt of the holder's Exercise Notice. If the holder and the Company are
unable to agree upon the determination of the Warrant Exercise Price or
arithmetic calculation of the Warrant Shares within two (2) Business Days of
such disputed determination or arithmetic calculation being transmitted to
the holder, then the Company shall within one (1) Business Day transmit via
facsimile (i) the disputed determination of the Warrant Exercise Price to an
independent, reputable investment banking firm or (ii) the disputed
arithmetic calculation of the Warrant Shares to its independent, outside
accountant. The Company shall cause the investment banking firm or the
accountant, as the case may be, to perform the determinations or calculations
and notify the Company and the holder of the results no later than
forty-eight (48) hours from the time it receives the disputed determinations
or calculations. Such investment banking firm's or accountant's determination
or calculation, as the case may be, shall be deemed conclusive absent
manifest error.

                 (b)    Unless the rights represented by this Warrant shall
have expired or shall have been fully exercised, the Company shall, as soon
as practicable and in no event later than five (5) Business Days after any
exercise and at its own expense, issue a new Warrant identical in all
respects to this Warrant except it shall represent rights to purchase the
number of Warrant Shares purchasable immediately prior to such exercise under
this Warrant, less the number of Warrant Shares with respect to which such
Warrant is exercised.

                 (c)    No fractional shares of Common Stock are to be issued
upon the exercise of this Warrant, but rather the number of shares of Common
Stock issued upon exercise of this Warrant shall be rounded up or down to the
nearest whole number.

                 (d)    If the Company shall fail for any reason or for no
reason to issue to the holder within five (5) Business Days of receipt of the
Exercise Delivery Documents, a certificate for the number of shares of Common
Stock to which the holder is entitled or to credit the holder's balance
account with The Depository Trust Company for such number of shares of Common
Stock to which the holder is entitled upon the holder's exercise of this
Warrant, the Company shall, in addition to any other remedies under this
Warrant or the Securities Purchase Agreement or otherwise available to such
holder, including any indemnification under Section 8 of the Securities
Purchase Agreement, pay as additional damages in cash to such holder on each
day the issuance of such Common Stock certificate is not timely effected an
amount equal to 0.5% of the product of (A) the sum of the number of shares of
Common Stock not issued to the holder on a timely basis and to which the
holder is entitled, and (B) the average of the Closing Bid Price of the
Common Stock for the three consecutive trading days immediately preceding the
last possible date

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which the Company could have issued such Common Stock to the holder without
violating this Section 2.

                 (e)    If within five (5) Business Days after the Company's
receipt of the Exercise Delivery Documents, the Company fails to deliver a
new Warrant to the holder for the number of shares of Common Stock to which
such holder is entitled pursuant to Section 2(b) hereof, then, in addition to
any other available remedies under this Warrant or the Securities Purchase
Agreement including indemnification pursuant to Section 9 thereof or
otherwise available to such holder, the Company shall pay as additional
damages in cash to such holder on each day after such fifth (5th) Business
Day that such delivery of such new Warrant is not timely effected an amount
equal to 0.5% of the product of (A) the number of shares of Common Stock
represented by the portion of this Warrant which is not being exercised and
(B) the average of the Closing Bid Prices of the Common Stock for the three
consecutive trading days immediately preceding the last possible date which
the Company could have issued such Warrant to the holder without violating
this Section 2.

                 (f)    If (i) despite the Company's obligations under the
Securities Purchase Agreement and the Registration Rights Agreement, the
Warrant Shares to be issued are not registered and available for resale
pursuant to a registration statement (including on days during a Grace Period
(as defined in the Registration Rights Agreement)) in accordance with the
Registration Rights Agreement or (ii) the Company consents, then
notwithstanding anything contained herein to the contrary, the holder of this
Warrant may, in its sole discretion, exercise this Warrant in whole or in
part and, in lieu of making the cash payment otherwise contemplated to be
made to the Company upon such exercise in payment of the Aggregate Exercise
Price, elect instead to receive upon such exercise the "Net Number" of shares
of Common Stock determined according to the following formula (a "CASHLESS
EXERCISE"):

         Net Number = (A X B) - (A X C)
                      -----------------
                              B
                  For purposes of the foregoing formula:

                           A= the total number of shares with respect to which
                           this Warrant is then being exercised.

                           B= the Closing Sale Price of the Common Stock (as
                           reported by Bloomberg) on the date immediately
                           preceding the date of the Exercise Notice.

                           C= the Warrant Exercise Price then in effect for the
                           applicable Warrant Shares at the time of such
                           exercise.

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         Section 3.     COVENANTS  AS TO  COMMON  STOCK.  The  Company
hereby  covenants  and  agrees as follows:

                 (a)    This Warrant is, and any Warrants issued in
substitution for or replacement of this Warrant will upon issuance be, duly
authorized and validly issued.

                 (b)    All Warrant Shares which may be issued upon the
exercise of the rights represented by this Warrant will, upon issuance, be
validly issued, fully paid and nonassessable and free from all taxes, liens
and charges with respect to the issue thereof.

                 (c)    During the period within which the rights represented
by this Warrant may be exercised, the Company will at all times have
authorized and reserved at least 100% of the number of shares of Common Stock
needed to provide for the exercise of the rights then represented by this
Warrant and the par value of said shares will at all times be less than or
equal to the applicable Warrant Exercise Price.

                 (d)    The Company shall promptly secure the listing of the
shares of Common Stock issuable upon exercise of this Warrant upon each
national securities exchange or automated quotation system, if any, upon
which shares of Common Stock are then listed (subject to official notice of
issuance upon exercise of this Warrant) and shall maintain, so long as any
other shares of Common Stock shall be so listed, such listing of all shares
of Common Stock from time to time issuable upon the exercise of this Warrant;
and the Company shall so list on each national securities exchange or
automated quotation system, as the case may be, and shall maintain such
listing of, any other shares of capital stock of the Company issuable upon
the exercise of this Warrant if and so long as any shares of the same class
shall be listed on such national securities exchange or automated quotation
system.

                 (e) The Company will not, by amendment of its Certificate of
Incorporation or through any reorganization, transfer of assets,
consolidation, merger, dissolution, issue or sale of securities, or any other
voluntary action, avoid or seek to avoid the observance or performance of any
of the terms to be observed or performed by it hereunder, but will at all
times in good faith assist in the carrying out of all the provisions of this
Warrant and in the taking of all such action as may reasonably be requested
by the holder of this Warrant in order to protect the exercise privilege of
the holder of this Warrant against dilution or other impairment, consistent
with the tenor and purpose of this Warrant. No impairment of the
designations, preferences and rights of the Preferred Shares contained in the
Company's Certificate of Designations or any waiver thereof which has an
adverse effect on the rights granted hereunder shall be given effect until
the Company has taken appropriate action (satisfactory to the holders of
Preferred Share Warrants representing at least a majority of the shares of
Common Stock issuable upon the exercise of such Preferred Share Warrants then
outstanding) to avoid such adverse effect with respect to this Warrant.
Without limiting the generality of the foregoing, the Company (i) will not
increase the par value of any shares of Common Stock receivable upon the
exercise of this Warrant above the Warrant Exercise Price then in effect, and
(ii) will take all such actions as may be necessary or

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appropriate in order that the Company may validly and legally issue fully
paid and nonassessable shares of Common Stock upon the exercise of this
Warrant.

         Section 4.     TAXES.  The Company shall pay any and all taxes which
may be payable with respect to the issuance and delivery of Warrant Shares
upon exercise of this Warrant.

         Section 5.     WARRANT HOLDER NOT DEEMED A STOCKHOLDER. Except as
otherwise specifically provided herein, no holder, as such, of this Warrant
shall be entitled to vote or receive dividends or be deemed the holder of
shares of the Company for any purpose, nor shall anything contained in this
Warrant be construed to confer upon the holder hereof, as such, any of the
rights of a stockholder of the Company or any right to vote, give or withhold
consent to any corporate action (whether any reorganization, issue of stock,
reclassification of stock, consolidation, merger, conveyance or otherwise),
receive notice of meetings, receive dividends or subscription rights, or
otherwise, prior to the issuance to the holder of this Warrant of the Warrant
Shares which he or she is then entitled to receive upon the due exercise of
this Warrant. In addition, nothing contained in this Warrant shall be
construed as imposing any liabilities on such holder to purchase any
securities (upon exercise of this Warrant or otherwise) or as a stockholder
of the Company, whether such liabilities are asserted by the Company or by
creditors of the Company. Notwithstanding this Section 5, the Company will
provide the holder of this Warrant with copies of the same notices and other
information given to the stockholders of the Company generally,
contemporaneously with the giving thereof to the stockholders.

         Section 6.     REPRESENTATIONS OF HOLDER. The holder of this
Warrant, by the acceptance hereof, represents that it is acquiring this
Warrant and the Warrant Shares for its own account for investment only and
not with a view towards, or for resale in connection with, the public sale or
distribution of this Warrant or the Warrant Shares, except pursuant to sales
registered or exempted under the Securities Act; provided, however, that by
making the representations herein, the holder does not agree to hold this
Warrant or any of the Warrant Shares for any minimum or other specific term
and reserves the right to dispose of this Warrant and the Warrant Shares at
any time in accordance with or pursuant to a registration statement or an
exemption under the Securities Act. The holder of this Warrant further
represents, by acceptance hereof, that, as of this date, such holder is an
"accredited investor" as such term is defined in Rule 501(a) of Regulation D
promulgated by the Securities and Exchange Commission under the Securities
Act (an "ACCREDITED INVESTOR"). Upon exercise of this Warrant, other than
pursuant to a Cashless Exercise, the holder shall, if requested by the
Company, confirm in writing, in a form satisfactory to the Company, that the
Warrant Shares so purchased are being acquired for the holder's own account
and not as a nominee for any other party, for investment, and not with a view
toward public distribution or resale, except pursuant to sales registered or
exempted under the Securities Act, and that such holder is an Accredited
Investor. If such holder cannot make such representations because they would
be factually incorrect, it shall be a condition to such holder's exercise of
this Warrant, other than pursuant to a Cashless Exercise, that the Company
receive such other representations as the Company considers reasonably
necessary to assure the Company that the issuance of its securities upon
exercise of this Warrant shall not violate any United States or state
securities laws.

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         Section 7.     OWNERSHIP AND TRANSFER.

                 (a)    The Company shall maintain at its principal executive
offices (or such other office or agency of the Company as it may designate by
notice to the holder hereof), a register for this Warrant, in which the
Company shall record the name and address of the person in whose name this
Warrant has been issued, as well as the name and address of each transferee.
The Company may treat the person in whose name any Warrant is registered on
the register as the owner and holder thereof for all purposes,
notwithstanding any notice to the contrary, but in all events recognizing any
transfers made in accordance with the terms of this Warrant.

                 (b)    This Warrant and the rights granted hereunder shall
be assignable by the holder hereof without the consent of the Company.

                 (c)    The Company is obligated to register the Warrant
Shares for resale under the Securities Act pursuant to the Registration
Rights Agreement and the initial holder of this Warrant (and certain
assignees thereof) is entitled to the registration rights in respect of the
Warrant Shares as set forth in the Registration Rights Agreement.

         Section 8.     ADJUSTMENT OF WARRANT EXERCISE PRICE AND NUMBER OF
SHARES. The Warrant Exercise Price and the number of shares of Common Stock
issuable upon exercise of this Warrant shall be adjusted from time to time as
follows:

                 (a)    ADJUSTMENT OF WARRANT EXERCISE PRICE UPON ISSUANCE OF
COMMON STOCK. If and whenever on or after the date of issuance of this
Warrant the Company issues or sells, or in accordance with this Section 8 is
deemed to have issued or sold, any shares of Common Stock (including the
issuance or sale of shares of Common Stock owned or held by or for the
account of the Company, but excluding shares of Common Stock deemed to have
been issued by the Company (I) in connection with an Approved Stock Plan,
(II) upon conversion of the Preferred Shares, (III) which are an Excluded
Security, of (IV) which are issued or deemed to have been issued by the
Company upon the issuance, exercise or conversion of the Other Securities)
for a consideration per share less than a price (the "APPLICABLE PRICE")
equal to the greater of (i) the Warrant Exercise Price in effect on the date
of such issuance or sale or (ii) the Closing Sale Price of the Common Stock
on the date of such issuance or sale, then immediately after such issue or
sale the Warrant Exercise Price then in effect shall be reduced to an amount
equal to the product of (x) the Warrant Exercise Price in effect immediately
prior to such issue or sale and (y) the quotient determined by dividing (1)
the sum of the product of the Applicable Price and the number of shares of
Common Stock Deemed Outstanding immediately prior to such issue or sale and
the consideration, if any, received by the Company upon such issue or sale,
by (2) the product of the Applicable Price multiplied by the number of shares
of Common Stock Deemed Outstanding immediately after such issue or sale.

                 (b)    EFFECT ON WARRANT EXERCISE PRICE OF CERTAIN EVENTS.
For purposes of determining the adjusted Warrant Exercise Price under Section
8(a) above, the following shall be applicable:

                                       -11-
<PAGE>

                        (i)      ISSUANCE  OF OPTIONS.  If the  Company in
any manner  grants any Options and the lowest price per share for which one
share of Common Stock is issuable upon the exercise of any such Option or
upon conversion or exchange of any Convertible Securities issuable upon
exercise of any such Option is less than the Applicable Price, then such
share of Common Stock shall be deemed to be outstanding and to have been
issued and sold by the Company at the time of the granting or sale of such
Option for such price per share. For purposes of this Section 8(b)(i), the
"lowest price per share for which one share of Common Stock is issuable upon
exercise of such Options or upon conversion or exchange of such Convertible
Securities" shall be equal to the sum of the lowest amounts of consideration
(if any) received or receivable by the Company with respect to any one share
of Common Stock upon the granting or sale of the Option, upon exercise of the
Option and upon conversion or exchange of any Convertible Security issuable
upon exercise of such Option. No further adjustment of the Warrant Exercise
Price shall be made upon the actual issuance of such Common Stock or of such
Convertible Securities upon the exercise of such Options or upon the actual
issuance of such Common Stock upon conversion or exchange of such Convertible
Securities.

                        (ii)     ISSUANCE OF CONVERTIBLE SECURITIES.  If the
Company  in  any  manner issues or sells any Convertible Securities and the
lowest price per share for which one share of Common Stock is issuable upon
the conversion or exchange thereof is less than the Applicable Price, then
such share of Common Stock shall be deemed to be outstanding and to have been
issued and sold by the Company at the time of the issuance or sale of such
Convertible Securities for such price per share. For the purposes of this
Section 8(b)(ii), the "lowest price per share for which one share of Common
Stock is issuable upon the conversion or exchange" shall be equal to the sum
of the lowest amounts of consideration (if any) received or receivable by the
Company with respect to one share of Common Stock upon the issuance or sale
of the Convertible Security and upon conversion or exchange of such
Convertible Security. No further adjustment of the Warrant Exercise Price
shall be made upon the actual issuance of such Common Stock upon conversion
or exchange of such Convertible Securities, and if any such issue or sale of
such Convertible Securities is made upon exercise of any Options for which
adjustment of the Warrant Exercise Price had been or is to be made pursuant
to other provisions of this Section 8(b), no further adjustment of the
Warrant Exercise Price shall be made by reason of such issue or sale.

                                       -12-
<PAGE>

                        (iii)    CHANGE IN OPTION  PRICE OR RATE OF
CONVERSION.  If the  purchase  price provided for in any Options, the
additional consideration, if any, payable upon the issue, conversion or
exchange of any Convertible Securities, or the rate at which any Convertible
Securities are convertible into or exchangeable for Common Stock changes at
any time, the Warrant Exercise Price in effect at the time of such change
shall be adjusted to the Warrant Exercise Price which would have been in
effect at such time had such Options or Convertible Securities provided for
such changed purchase price, additional consideration or changed conversion
rate, as the case may be, at the time initially granted, issued or sold. For
purposes of this Section 8(b)(iii), if the terms of any Option or Convertible
Security that was outstanding as of the date of issuance of this Warrant are
changed in the manner described in the immediately preceding sentence, then
such Option or Convertible Security and the Common Stock deemed issuable upon
exercise, conversion or exchange thereof shall be deemed to have been issued
as of the date of such change. No adjustment pursuant to this Section 8(b)
shall be made if such adjustment would result in an increase of the Warrant
Exercise Price then in effect.

                 (c)    EFFECT ON WARRANT EXERCISE PRICE OF CERTAIN EVENTS.
For purposes of determining the adjusted Warrant Exercise Price under
Sections 8(a) and 8(b), the following shall be applicable:

                        (i)      CALCULATION OF CONSIDERATION  RECEIVED.  If
any Common Stock, Options or Convertible Securities are issued or sold or
deemed to have been issued or sold for cash, the consideration received
therefor will be deemed to be the net amount received by the Company
therefor. If any Common Stock, Options or Convertible Securities are issued
or sold for a consideration other than cash, the amount of such consideration
received by the Company will be the fair value of such consideration, except
where such consideration consists of securities, in which case the amount of
consideration received by the Company will be the average of the Closing Bid
Price of such security for the five consecutive trading days immediately
preceding the date of receipt of such securities. If any Common Stock,
Options or Convertible Securities are issued to the owners of the
non-surviving entity in connection with any merger in which the Company is
the surviving entity, the amount of consideration therefor will be deemed to
be the fair value of such portion of the net assets and business of the
non-surviving entity as is attributable to such Common Stock, Options or
Convertible Securities, as the case may be. The fair value of any
consideration other than cash or securities will be determined jointly by the
Company and the holders of Preferred Share Warrants representing at least a
majority of the shares of Common Stock obtainable upon exercise of the
Preferred Share Warrants then outstanding. If such parties are unable to
reach agreement within ten (10) days after the occurrence of an event
requiring valuation (the "VALUATION EVENT"), the fair value of such
consideration will be determined within five Business Days after the tenth
(10th) day following the Valuation Event by an independent, reputable
appraiser jointly selected by the Company and the holders of Preferred Share
Warrants representing at least a majority of the shares of Common Stock
obtainable upon exercise of the Preferred Share Warrants then outstanding.
The determination of such appraiser shall be final and binding upon all
parties and the fees and expenses of such appraiser shall be borne jointly by
the Company and the holders of Preferred Share Warrants.

                                       -13-
<PAGE>

                        (ii)     INTEGRATED  TRANSACTIONS.  In case any
Option is  issued in  connection with the issue or sale of other securities
of the Company, together comprising one integrated transaction in which no
specific consideration is allocated to such Options by the parties thereto,
the Options will be deemed to have been issued for a consideration of $0.01.

                        (iii)    TREASURY  SHARES.  The number of shares of
Common Stock  outstanding  at any given time does not include shares owned or
held by or for the account of the Company, and the disposition of any shares
so owned or held will be considered an issue or sale of Common Stock unless
such shares are cancelled.

                        (iv)     RECORD  DATE.  If the  Company  takes a
record of the  holders of Common Stock for the purpose of entitling them (1)
to receive a dividend or other distribution payable in Common Stock, Options
or in Convertible Securities or (2) to subscribe for or purchase Common
Stock, Options or Convertible Securities, then such record date will be
deemed to be the date of the issue or sale of the shares of Common Stock
deemed to have been issued or sold upon the declaration of such dividend or
the making of such other distribution or the date of the granting of such
right of subscription or purchase, as the case may be.

                 (d)    ADJUSTMENT OF WARRANT EXERCISE PRICE UPON SUBDIVISION
OR COMBINATION OF COMMON STOCK. If the Company at any time after the date of
issuance of this Warrant subdivides (by any stock split, stock dividend,
recapitalization or otherwise) one or more classes of its outstanding shares
of Common Stock into a greater number of shares, any Warrant Exercise Price
in effect immediately prior to such subdivision will be proportionately
reduced and the number of shares of Common Stock obtainable upon exercise of
this Warrant will be proportionately increased. If the Company at any time
after the date of issuance of this Warrant combines (by combination, reverse
stock split or otherwise) one or more classes of its outstanding shares of
Common Stock into a smaller number of shares, any Warrant Exercise Price in
effect immediately prior to such combination will be proportionately
increased and the number of shares of Common Stock obtainable upon exercise
of this Warrant will be proportionately decreased. Any adjustment under this
Section 8(d) shall become effective at the close of business on the date the
subdivision or combination becomes effective.

                                       -14-
<PAGE>

                 (e)    DISTRIBUTION OF ASSETS. If the Company shall declare
or make any dividend or other distribution of its assets (or rights to
acquire its assets) to holders of Common Stock, by way of return of capital
or otherwise (including, without limitation, any distribution of cash, stock
or other securities, property or options by way of a dividend, spin off,
reclassification, corporate rearrangement or other similar transaction) (a
"DISTRIBUTION"), at any time after the issuance of this Warrant, then, in
each such case:

                        (i)      any Warrant Exercise Price in effect
immediately  prior to the close of business on the record date fixed for the
determination of holders of Common Stock entitled to receive the Distribution
shall be reduced, effective as of the close of business on such record date,
to a price determined by multiplying such Warrant Exercise Price by a
fraction of which (A) the numerator shall be the Closing Bid Price of the
Common Stock on the trading day immediately preceding such record date minus
the value of the Distribution (as determined in good faith by the Company's
Board of Directors) applicable to one share of Common Stock, and (B) the
denominator shall be the Closing Bid Price of the Common Stock on the trading
day immediately preceding such record date; and

                        (ii)      either (A) the number of Warrant Shares
obtainable upon exercise of this Warrant shall be increased to a number of
shares equal to the number of shares of Common Stock obtainable immediately
prior to the close of business on the record date fixed for the determination
of holders of Common Stock entitled to receive the Distribution multiplied by
the reciprocal of the fraction set forth in the immediately preceding clause
(i), or (B) in the event that the Distribution is of common stock of a
company whose common stock is traded on a national securities exchange or a
national automated quotation system, then the holder of this Warrant shall
receive an additional warrant to purchase Common Stock, the terms of which
shall be identical to those of this Warrant, except that such warrant shall
be exercisable into the amount of the assets that would have been payable to
the holder of this Warrant pursuant to the Distribution had the holder
exercised this Warrant immediately prior to such record date and with an
exercise price equal to the amount by which the exercise price of this
Warrant was decreased with respect to the Distribution pursuant to the terms
of the immediately preceding clause (i).

                 (f)    CERTAIN EVENTS. If any event occurs of the type
contemplated by the provisions of this Section 8 but not expressly provided
for by such provisions (including, without limitation, the granting of stock
appreciation rights, phantom stock rights or other rights with equity
features), then the Company's Board of Directors will make an appropriate
adjustment in the Warrant Exercise Price and the number of shares of Common
Stock obtainable upon exercise of this Warrant so as to protect the rights of
the holders of the Preferred Share Warrants; provided that no such adjustment
pursuant to this Section 8(f) will increase the Warrant Exercise Price or
decrease the number of shares of Common Stock obtainable as otherwise
determined pursuant to this Section 8.

                                       -15-
<PAGE>

                 (g)    NOTICES.

                        (i)      Immediately  upon  any  adjustment  of a
Warrant  Exercise  Price,  the Company will give written notice thereof to
the holder of this Warrant, setting forth in reasonable detail, and
certifying, the calculation of such adjustment.

                        (ii)     The Company  will give  written  notice to
the holder of this Warrant at least ten (10) days prior to the date on which
the Company closes its books or takes a record (A) with respect to any
dividend or distribution upon the Common Stock, (B) with respect to any pro
rata subscription offer to holders of Common Stock or (C) for determining
rights to vote with respect to any Organic Change (as defined below),
dissolution or liquidation, provided that such information shall be made
known to the public prior to or in conjunction with such notice being
provided to such holder.

                        (iii)    The Company will also give written  notice
to the holder of this Warrant at least ten (10) days prior to the date on
which any Organic Change, dissolution or liquidation will take place,
provided that such information shall be made known to the public prior to or
in conjunction with such notice being provided to such holder.

         Section 9.     PURCHASE  RIGHTS;  REORGANIZATION,  RECLASSIFICATION,
CONSOLIDATION,  MERGER OR Sale.

                 (a)    In addition to any adjustments pursuant to Section 8
above, if at any time the Company grants, issues or sells any Options,
Convertible Securities or rights to purchase stock, warrants, securities or
other property pro rata to the record holders of any class of Common Stock
(the "PURCHASE RIGHTS"), then the holder of this Warrant will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate
Purchase Rights which such holder could have acquired if such holder had held
the number of shares of Common Stock acquirable upon complete exercise of
this Warrant immediately before the date on which a record is taken for the
grant, issuance or sale of such Purchase Rights, or, if no such record is
taken, the date as of which the record holders of Common Stock are to be
determined for the grant, issue or sale of such Purchase Rights.

                 (b)    Any recapitalization, reorganization, reclassification,
consolidation, merger, sale of all or substantially all of the Company's assets
to another Person or other transaction in each case which is effected in such a
way that holders of Common Stock are entitled to receive (either directly or
upon subsequent liquidation) stock, securities or assets with respect to or in
exchange for Common Stock is referred to herein as an "ORGANIC CHANGE." Prior to
the consummation of any (i) sale of all or substantially all of the Company's
assets to an acquiring Person or (ii) other Organic Change following which the
Company is not a surviving entity, the Company will secure from the Person
purchasing such assets or the successor resulting from such Organic Change (in
each case, the "ACQUIRING ENTITY") a written agreement (in form and substance
reasonably satisfactory to the holders of Preferred Share Warrants representing
at least a majority of the shares of Common Stock obtainable upon exercise of
the Preferred Share Warrants then outstanding) to deliver to each holder of
Preferred Share Warrants in exchange for such Warrants, a security of the
Acquiring Entity evidenced by a written instrument substantially similar in form
and substance to this Warrant and reasonably satisfactory to the holders of at
least a majority of the Preferred Share

                                       -16-
<PAGE>

Warrants then outstanding (including, an adjusted warrant exercise price
equal to the value for the Common Stock reflected by the terms of such
consolidation, merger or sale, and exercisable for a corresponding number of
shares of Common Stock acquirable and receivable upon exercise of the
Preferred Share Warrants (without regard to any limitations or exercise), if
the value so reflected is less than any Warrant Exercise Price in effect
immediately prior to such consolidation, merger or sale). Prior to the
consummation of any other Organic Change, the Company shall make appropriate
provision (in form and substance reasonably satisfactory to the holders of
Preferred Share Warrants representing at least a majority of the shares of
Common Stock obtainable upon exercise of the Preferred Share Warrants then
outstanding) to insure that each of the holders of the Preferred Share
Warrants will thereafter have the right to acquire and receive in lieu of or
in addition to (as the case may be) the shares of Common Stock immediately
theretofore acquirable and receivable upon the exercise of such holder's
Preferred Share Warrants (without regard to any limitations or exercise),
such shares of stock, securities or assets that would have been issued or
payable in such Organic Change with respect to or in exchange for the number
of shares of Common Stock which would have been acquirable and receivable
upon the exercise of such holder's Warrant as of the date of such Organic
Change (without taking into account any limitations or restrictions on the
exerciseability of this Warrant).

         Section 10.    LOST, STOLEN, MUTILATED OR DESTROYED WARRANT. If this
Warrant is lost, stolen, mutilated or destroyed, the Company shall promptly,
on receipt of an indemnification undertaking (or, in the case of a mutilated
Warrant, the Warrant), issue a new Warrant of like denomination and tenor as
this Warrant so lost, stolen, mutilated or destroyed.

         Section 11.    NOTICE. Any notices, consents, waivers or other
communications required or permitted to be given under the terms of this
Warrant 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 an overnight courier 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:

                  Intraware, Inc.
                  200 Powell Street, Suite 140
                  Emeryville, California 94608
                  Telephone:        (925) 253-4500
                  Facsimile:        (510) 597-4890
                  Attention:        President

                                       -17-
<PAGE>

         With a copy to:

                  Wilson Sonsini Goodrich & Rosati
                  650 Page Mill Road
                  Palo Alto, California 94304-1050
                  Telephone:        (650) 493-9300
                  Facsimile:        (650) 493-6811
                  Attention:        Adam R. Dolinko, Esq.

If to a holder of this Warrant, to it at the address and facsimile number set
forth on the Schedule of Buyers to the Securities Purchase Agreement, with
copies to such holder's representatives as set forth on such Schedule of
Buyers, or at such other address and facsimile as shall be delivered to the
Company upon the issuance or transfer of this Warrant. Each party shall
provide five days' prior written notice to the other party of any change in
address or facsimile number. Written confirmation of receipt (A) given by the
recipient of such notice, consent, waiver or other communication, (B)
mechanically or electronically generated by the sender's facsimile machine
containing the time, date, recipient facsimile number and an image of the
first page of such transmission or (C) provided by an overnight courier
service shall be rebuttable evidence of personal service, receipt by
facsimile or receipt from an overnight courier service in accordance with
clause (i), (ii) or (iii) above, respectively.

         Section 12.    DATE. The date of this Warrant is ___________. This
Warrant, in all events, shall be wholly void and of no effect after the close
of business on the Expiration Date, except that notwithstanding any other
provisions hereof, the provisions of Section 7(c) shall continue in full
force and effect after such date as to any Warrant Shares or other securities
issued upon the exercise of this Warrant.

         Section 13.    AMENDMENT AND WAIVER. Except as otherwise provided
herein, the provisions of the Preferred Share Warrants may be amended and the
Company may take any action herein prohibited, or omit to perform any act
herein required to be performed by it, only if the Company has obtained the
written consent of the holders of Preferred Share Warrants representing at
least a majority of the shares of Common Stock obtainable upon exercise of
the Preferred Share Warrants then outstanding; provided that no such action
may increase the Warrant Exercise Price of any Preferred Share Warrant or
decrease the number of shares or class of stock obtainable upon exercise of
any Preferred Share Warrant without the written consent of the holder of such
Preferred Share Warrant.

         Section 14.    DESCRIPTIVE HEADINGS; GOVERNING LAW. The descriptive
headings of the several sections and paragraphs of this Warrant are inserted
for convenience only and do not constitute a part of this Warrant. The
corporate laws of the State of Delaware 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
Warrant shall be governed by the internal laws of the State of Illinois,
without giving effect to any choice of law

                                       -18-
<PAGE>

or conflict of law provision or rule (whether of the State of Illinois, or
any other jurisdiction) that would cause the application of the laws of any
jurisdiction other than the State of Illinois.

                                              [SIGNATURE PAGE FOLLOWS]

                                       -19-
<PAGE>

        IN WITNESS WHEREOF, the Company has caused this Warrant to be signed
by ___________________, its ____________________________, as of ____________,
2000.

                                           INTRAWARE, INC.

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

<PAGE>

                              EXHIBIT A TO WARRANT

                                SUBSCRIPTION FORM

         TO BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS WARRANT

                                  INTRAWARE, INC.

         The undersigned holder hereby exercises the right to purchase
_________________ of the shares of Common Stock ("WARRANT SHARES") of
Intraware, Inc., a Delaware corporation (the "COMPANY"), evidenced by the
attached Warrant (the "WARRANT"). Capitalized terms used herein and not
otherwise defined shall have the respective meanings set forth in the Warrant.

         1. Form of Warrant Exercise Price. The Holder intends that payment
of the Warrant Exercise Price shall be made as:

       ____________      a "CASH  EXERCISE"  with respect to
                         _________________ arrant  Shares; and/or

       ____________      a "CASHLESS  EXERCISE"  with respect to
                         _______________  Warrant Shares(to the extent
                         permitted by the terms of the Warrant).

         2. Payment of Warrant Exercise Price. In the event that the holder
has elected a Cash Exercise with respect to some or all of the Warrant Shares
to be issued pursuant hereto, the holder shall pay the sum of
$___________________ to the Company in accordance with the terms of the
Warrant.

         3. Delivery of Warrant Shares. The Company shall deliver to the
holder __________ Warrant Shares in accordance with the terms of the Warrant.

Date: _______________ __, ______

   Name of Registered Holder

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

<PAGE>

                                  ACKNOWLEDGMENT

         The Company hereby acknowledges this Exercise Notice and hereby
directs [TRANSFER AGENT] to issue the above indicated number of shares of
Common Stock in accordance with the Transfer Agent Instructions dated
____________, 2000 from the Company and acknowledged and agreed to by
[TRANSFER AGENT].

                                              INTRAWARE, INC.

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

<PAGE>

                              EXHIBIT B TO WARRANT

                              FORM OF WARRANT POWER

FOR VALUE RECEIVED, the undersigned does hereby assign and transfer to
________________, Federal Identification No. __________, a warrant to
purchase ____________ shares of the capital stock of Intraware, Inc., a
Delaware corporation, represented by warrant certificate no. _____, standing
in the name of the undersigned on the books of said corporation. The
undersigned does hereby irrevocably constitute and appoint ______________,
attorney to transfer the warrants of said corporation, with full power of
substitution in the premises.

Dated:  _________, ____

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

                                        Name:
                                             -------------------------------
                                        Title:
                                              ------------------------------<PAGE>
                                                                 EXHIBIT 10.1

                          REGISTRATION RIGHTS AGREEMENT

     REGISTRATION RIGHTS AGREEMENT (this "AGREEMENT"), dated as of June 29,
2000, by and among Intraware, Inc., a Delaware corporation, with headquarters
located at 200 Powell Street, Suite 140, Emeryville, California 94608 (the
"COMPANY"), and the undersigned buyers (each, a "BUYER" and collectively, the
"BUYERS").

     WHEREAS:

     A. In connection with the Securities Purchase Agreement by and among the
parties hereto of even date herewith (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 each Buyer (i) shares of the
Company's Series A, Series B and C Preferred Stock (collectively, the "PREFERRED
SHARES"), which will be convertible into shares of the Company's common stock,
par value $0.0001 per share (the "COMMON STOCK") (as converted, the "CONVERSION
SHARES"), in accordance with the terms of the Company's Certificate of
Designations, Preferences and Rights of each of the Company's Series A, Series B
and Series C Preferred Stock (collectively, the "CERTIFICATE OF DESIGNATIONS"),
and (ii) Warrants (the "WARRANTS") which will be exercisable to purchase shares
of Common Stock (the "WARRANT SHARES");

     B. To induce each 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 each 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.

                                       1

<PAGE>

          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.

          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 Conversion Shares and the
Warrant Shares issued or issuable upon conversion of the Preferred Shares and
exercise of the Warrants, respectively, and any shares of capital stock issued
or issuable with respect to the Conversion Shares, the Warrant Shares, the
Warrants or the Preferred Shares as a result of any stock split, stock dividend,
recapitalization, exchange or similar event or otherwise, in each case without
regard to any limitation on conversions of Preferred Shares or on exercises of
the Warrants.

          e. "REGISTRATION STATEMENT" means a registration statement of the
Company filed under the 1933 Act.

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 135 days after the date hereof (the
"MANDATORY FILING DATE"), 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(d). The initial
Registration Statement prepared pursuant hereto shall register for resale at
least that number of shares of Common Stock equal to the product of (x) 1.2 and
(y) the number of Registrable Securities calculated as of the date immediately
following the last day of the Series C Pricing Period (as defined in the
Certificate of Designations of the Company's Series C Preferred Stock), subject
to adjustment as provided in Section 3(b). The Company shall use its best
efforts to have the Registration Statement declared effective by the SEC as soon
as practicable, but in no event later than 195 days after the date hereof (the
"MANDATORY EFFECTIVE DATE").

          b. 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

                                       2

<PAGE>

such initial number of Registrable Securities or increase thereof is last filed
with 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 shares of Common Stock
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.

          c. LEGAL COUNSEL. Subject to Section 5 hereof, the Buyers holding a
majority of the Registrable Securities 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 Katten Muchin & Zavis or such other counsel as
thereafter designated by the holders of a majority of Registrable Securities.
The Company shall reasonably cooperate with Legal Counsel in performing the
Company's obligations under this Agreement.

          d. ELIGIBILITY FOR FORM S-3. The Company represents and warrants that
it currently meets the requirements for use of Form S-3 for registration of the
resale of the Registrable Securities, and has no actual knowledge of any facts
which would reasonably cause the Company to fail to meet such requirements. In
the event that Form S-3 is not available for the registration of the resale of
Registrable Securities hereunder, the Company shall (i) register the resale of
the Registrable Securities on another appropriate form, reasonably acceptable to
the holders of a majority of the Registrable Securities, 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.

          e. SUFFICIENT NUMBER OF SHARES REGISTERED. In the event that the
number of shares available under (i) the Registration Statement filed pursuant
to Section 2(a) together with (ii) any Registration Statements filed pursuant to
this Section 2(e) is insufficient to cover the resale of 100% of the Registrable
Securities or an Investor's allocated portion of the registered shares pursuant
to Section 2(b), the Company shall amend any such Registration Statement, or
file a new Registration Statement (on the short form available therefor, if
applicable), or both, so as to cover at least 120% of the Registrable Securities
calculated as of the trading day immediately preceding the date of the filing of
such amendment or new Registration Statement), in each case, as soon as
practicable, but in any event not later than fifteen (15) Business Days after
the necessity therefor arises. The Company shall use its best efforts to cause
such amendment and/or new Registration Statement to become effective as soon as
practicable following the filing thereof.

          f. EFFECT OF FAILURE TO OBTAIN AND MAINTAIN EFFECTIVENESS OF
REGISTRATION STATEMENT. If (i) a Registration Statement covering all the
Registrable Securities and required to be filed by the Company pursuant to this
Agreement is not declared effective by the SEC on or before the Mandatory
Effective Date or (ii) on any day after the Registration Statement has been
declared effective by the SEC sales of all the Registrable Securities required
to be included on

                                       3

<PAGE>

such Registration Statement cannot be made (other than during an Allowable Grace
Period) pursuant to the Registration Statement (including, without limitation,
because of a failure to keep the Registration Statement effective, to disclose
such information as is necessary for sales to be made pursuant to the
Registration Statement or to register sufficient shares of Common Stock), then,
as partial relief for the damages to any holder by reason of any such delay in
or reduction of its ability to sell Registrable Securities (which remedy shall
not be exclusive of any other remedies available at law or in equity), the
Company shall pay to each holder of Preferred Shares an amount in cash per
Preferred Share held equal to the product of (i) $10,000 multiplied by (ii) the
sum of (A) 0.025, if the Registration Statement is not declared effective by the
Mandatory Effective Date, plus, (B) 0.025, if the Registration Statement is not
declared effective by the 30th day after the Mandatory Effective Date and 0.025
if the Registration Statement is not declared effective by each successive 30th
day, plus (C) the product of (I) 0.000833 multiplied by (II) the number of days
after the Registration Statement has been declared effective by the SEC that
such Registration Statement is not available (other than days during an
Allowable Grace Period) for the resale of all the Registrable Securities
required to be included on such Registration Statement pursuant to Section 2(e).
The payments to which a holder shall be entitled pursuant to this Section 2(f)
are referred to herein as "REGISTRATION DELAY PAYMENTS." Registration Delay
Payments shall be paid on the earlier of (I) the last day of the calendar month
during which such Registration Delay Payments are incurred and (II) the third
business day after the event or failure giving rise to the Registration Delay
Payments is cured. In the event the Company fails to make Registration Delay
Payments in a timely manner, such Registration Delay Payments shall bear
interest at the rate of 2.0% per month (prorated for partial months) until paid
in full.

     3. RELATED OBLIGATIONS.

     In connection with the Company's obligation to file a Registration
Statement with the SEC pursuant to Section 2(a) or 2(e), the Company shall have
the following obligations:

          a. The Company shall submit to the SEC, within two business days after
the Company learns that no review of a particular Registration Statement will be
made by the staff of the SEC or that the staff has no further comments on a
Registration Statement, as the case may be, a request for acceleration of
effectiveness of such Registration Statement to a time and date not later than
48 hours after the submission of such request. The Company shall keep a
Registration Statement effective pursuant to Rule 415 at all times until the
earlier of (i) the date as of which none of the Preferred Shares or Warrants is
outstanding and the Investors shall have sold all the Registrable Securities or
(ii) the date as of which all the Investors may sell all of the Registrable
Securities pursuant to Rule 144(k) under the 1933 Act (or any successor thereto)
(the "REGISTRATION PERIOD"). The Company shall insure that each 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.

                                       4

<PAGE>

          b. The Company shall prepare and file with the SEC such amendments
(including post-effective amendments) and supplements to a Registration
Statement and the prospectus used in connection with such Registration
Statement, which prospectus is to be filed pursuant to Rule 424 promulgated
under the 1933 Act, as may be necessary to keep such Registration Statement
effective at all times during the Registration Period, and, during such period,
comply with the provisions of the 1933 Act with respect to the disposition of
all Registrable Securities of the Company covered by such Registration Statement
until such time as all of such Registrable Securities shall have been disposed
of in accordance with the intended methods of disposition by the seller or
sellers thereof as set forth in such Registration Statement or pursuant to Rule
144 under the 1933 Act. In the case of amendments and supplements to a
Registration Statement which are required to be filed pursuant to this Agreement
(including pursuant to this Section 3(b)) by reason of the Company filing a
report on Form 10-K, Form 10-Q or Form 8-K or any analogous report under the
Securities Exchange Act of 1934, as amended (the "1934 ACT"), the Company shall
have incorporated such report by reference into the Registration Statement, if
applicable, or shall file such amendments or supplements with the SEC on the
same day on which the 1934 Act report is filed which created the requirement for
the Company to amend or supplement the Registration Statement. Without limiting
the generality of the obligation set forth in this Section 3(b), the Company
shall, from time to time, file a supplement to the prospectus included in a
Registration Statement which updates the information contained in the
Registration Statement relating to (i) the total number of Preferred Shares and
Warrants outstanding, (ii) the conversion price of the Preferred Shares and
exercise price of the Warrants, (iii) the total number of shares of Common Stock
issuable upon conversion of all outstanding Preferred Shares and exercise of all
outstanding Warrants, (iv) the number of shares of Common Stock beneficially
owned by each Investor whose shares are included in the Registration Statement,
and (v) the number of shares of Common Stock being offered by each Investor
whose shares are included in the Registration Statement. The Company shall file
any such supplement with the SEC under Rule 424(b)(3) of the 1933 Act, or if the
supplement may not be filed under Rule 424(b)(3) of the 1933 Act, then under
such other applicable provisions of the 1933 Act.

          c. The Company shall permit Legal Counsel to review and comment upon a
Registration Statement and all amendments and supplements thereto at least five
business days prior to their filing with the SEC, and not file any document in a
form 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.

                                       5
<PAGE>

          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 the effectiveness of any Registration Statement, ten
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 Securities owned by such Investor.

          e. The Company shall use its best efforts to (i) register and qualify,
unless an exemption from registration or qualification applies, all the
Registrable Securities covered by a Registration Statement under all securities
or "blue sky" laws of such jurisdictions in the United States, (ii) prepare and
file in those jurisdictions, such amendments (including post-effective
amendments) and supplements to such registrations and qualifications as may be
necessary to maintain the effectiveness thereof during the Registration Period,
(iii) take such other actions as may be necessary to maintain such registrations
and qualifications in effect at all times during the Registration Period, and
(iv) take all other actions reasonably necessary or advisable to qualify the
Registrable Securities for sale in such jurisdictions; provided, however, that
the Company shall not be required in connection therewith or as a condition
thereto to (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 itself
to general taxation in any such jurisdiction, or (z) file a general consent to
service of process in any such jurisdiction. The Company shall promptly notify
Legal Counsel and each Investor who holds Registrable Securities of the receipt
by the Company of any notification with respect to the suspension of the
registration or qualification of any of the Registrable Securities for sale
under the securities or "blue sky" laws of any jurisdiction in the United States
or its receipt of actual notice of the initiation or threatening of any
proceeding for such purpose.

          f. The Company shall (i) notify Legal Counsel and each Investor in
writing (provided that in no event shall such notice include any material,
nonpublic information) as promptly as practicable upon its discovery that the
prospectus included in a Registration Statement, as then in effect, includes an
untrue statement of a material fact or omission to state a material fact
required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading, (ii)
promptly prepare a supplement or amendment to such Registration Statement to
correct such untrue statement or omission, and (iii) deliver ten copies of such
supplement or amendment to Legal Counsel and each Investor (or such other number
of copies as Legal Counsel or such Investor may reasonably request). The Company
shall also promptly notify Legal Counsel and each Investor in writing (provided
that in no event shall such notice include any material, nonpublic information)
(x) 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), (y) of any request by the SEC for
amendments

                                       6
<PAGE>

or supplements to a Registration Statement or related prospectus or related
information, and (z) of the Company's reasonable determination that a
post-effective amendment to a Registration Statement would be appropriate.

          g. 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 (provided that in no event shall such notification include
any material, nonpublic information) Legal Counsel and each Investor who holds
Registrable Securities being sold 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.

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

          i. 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 disclosure (except to an Investor) or use of any Record or other
information which the Company determines in good faith to be confidential, and
of which determination the Inspectors are so notified, unless (a) the disclosure
of such Records is necessary to avoid or correct a misstatement or omission in
any Registration Statement or is otherwise required under the 1933 Act, (b) the
release of such Records is ordered pursuant to a final, non-appealable subpoena
or order from a court or government body of competent jurisdiction, or (c) the
information in such Records has been made generally available to the public
other than by disclosure in violation of this or any other agreement of which
the Inspector 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.

          j. The Company shall hold in confidence and not make any disclosure of
information concerning an Investor provided to the Company unless (i) disclosure
of such

                                       7
<PAGE>

information is necessary to comply with federal or state securities laws, (ii)
the disclosure of such information is necessary to avoid or correct a
misstatement or omission in any Registration Statement, (iii) the release of
such information is ordered pursuant to a subpoena or other final,
non-appealable order from a court or governmental body of competent
jurisdiction, or (iv) such information has been made generally available to the
public other than by disclosure in violation of this Agreement or any other
agreement. The Company agrees that it shall, upon learning that disclosure of
such information concerning 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.

          k. 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 Nasdaq National Market System or, if, despite the
Company's best efforts to satisfy the preceding clause (i) or (ii), the Company
is unsuccessful in satisfying the preceding clause (i) or (ii), to secure the
inclusion for quotation on The Nasdaq SmallCap Market for such Registrable
Securities and, without limiting the generality of the foregoing, to arrange for
at least two market makers to register with the National Association of
Securities Dealers, Inc. ("NASD") as such with respect to such Registrable
Securities. The Company shall pay all fees and expenses in connection with
satisfying its obligation under this Section 3(k).

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

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

          n. If requested by an Investor, the Company as promptly as practicable
shall: (i) incorporate in a prospectus supplement or post-effective amendment
such information as an Investor requests to be included therein relating to the
sale and distribution of Registrable Securities, including, without limitation,
information with respect to the number of Registrable Securities being offered
or sold, the purchase price being paid therefor, the persons selling the
Registrable Securities and any other terms of the offering of the 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 holder of
such Registrable Securities.

                                       8
<PAGE>

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

          p. The Company shall make generally available to its security holders
as soon as practical, but not later than 90 days after the close of the period
covered thereby, an earnings statement (in form complying with the provisions of
Rule 158 under the 1933 Act) covering a twelve-month period beginning not later
than the first day of the Company's fiscal quarter next following the effective
date of the Registration Statement.

          q. 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.

          r. Within two (2) 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.

          s. 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.

          t. Notwithstanding anything to the contrary in Section 3(f), at any
time after the Registration Statement has been declared effective by the SEC,
the Company may delay the disclosure of material non-public information
concerning the Company, the disclosure of which at the time is not, in the good
faith opinion of the Board of Directors of the Company and its counsel, in the
best interest of the Company and, in the opinion of counsel to the Company,
otherwise required (a "GRACE PERIOD"); provided, that the Company shall promptly
(i) notify the Investors in writing of the existence of material non-public
information giving rise to a Grace Period (provided that in each notice the
Company will not disclose the content of such material non-public information to
the Investors) and the date on which the Grace Period will begin, and (ii)
notify the Investors in writing of the date on which the Grace Period ends; and,
provided further, that no Grace Period shall exceed 15 consecutive days, such
Grace Periods shall not exceed an aggregate of 30 days during any consecutive
365 day period and the first day of any Grace Period must be at least thirty
trading days after the last day of any prior Grace Period (an "ALLOWABLE GRACE
PERIOD"). For purposes of determining the length of a Grace Period above, the
Grace Period shall begin on and include the date the holders receive the notice
referred to in clause (i) and shall end on and include the later of the date the
holders receive the notice referred to in clause (ii) and the date referred to
in such notice. The provisions of Section 3(g) shall not be applicable during
the period of any Allowable Grace Period. In the event of any Grace Period,

                                       9
<PAGE>

the Maturity Date (as defined in the Certificate of Designations) may be, and
the Expiration Date (as defined in the Warrants) shall be, delayed one day for
each day in the Grace Period as provided in Section 22(k) of the Certificate of
Designations and Section 1(b)(x) of the Warrants, respectively. Notwithstanding
anything to the contrary, the Company shall cause its transfer agent to deliver
unlegended shares of Common Stock to a transferee of an Investor in accordance
with the terms of the Securities Purchase Agreement in connection with any sale
of Registrable Securities with respect to which an Investor has entered into a
contract for sale prior to the Investor's receipt of the notice of a Grace
Period and for which the Investor has not yet settled.

     4. OBLIGATIONS OF THE INVESTORS.

          a. At least five business days prior to the first anticipated filing
date of a Registration Statement, 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, the Registrable Securities held by it and the intended method of
disposition of 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.

          c. Each Investor agrees that, upon receipt of any notice from the
Company of the happening of any event of the kind described in Section 3(g) or
the first sentence of 3(f), such Investor will immediately discontinue
disposition of Registrable Securities pursuant to any Registration Statement(s)
covering such Registrable Securities until such Investor's receipt of the copies
of the supplemented or amended prospectus contemplated by Section 3(g) or the
first sentence of 3(f) or receipt of notice that no supplement or amendment is
required. Notwithstanding anything to the contrary, the Company shall cause its
transfer agent to deliver unlegended shares of Common Stock to a transferee of
an Investor in accordance with the terms of the Securities Purchase Agreement in
connection with any sale of Registrable Securities with respect to which an
Investor has entered into a contract for sale prior to the Investor's receipt of
a notice from the Company of the happening of any event of the kind described in
Section 3(g) or the first sentence of 3(f) and for which the Investor has not
yet settled.

                                       10
<PAGE>

     5. EXPENSES OF REGISTRATION.

     All reasonable expenses, other than underwriting discounts and brokerage
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 shall be paid by the Company.
The Company also shall reimburse the Investors for fees and disbursements of
Legal Counsel in connection with registration filing or qualification pursuant
to Sections 2 and 3 of this Agreement up to $10,000.

     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, 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 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, claim,
suit, inquiry, proceeding, investigation or appeal taken from the foregoing by
or before any court or governmental, administrative or other regulatory agency,
body or the SEC, whether pending or threatened, whether or not an indemnified
party is or may be a party thereto ("INDEMNIFIED DAMAGES"), to which any of them
may become subject insofar as such Claims (or actions or proceedings, whether
commenced or threatened, in respect thereof) arise out of or are based upon: (i)
any untrue statement or alleged untrue statement of a material fact in a
Registration Statement or any post-effective amendment thereto or in any filing
made in connection with the qualification of the offering under the securities
or other "blue sky" laws of any jurisdiction in which Registrable Securities are
offered ("BLUE SKY FILING"), or the omission or alleged omission to state a
material fact required to be stated therein or necessary to make the statements
therein not misleading, (ii) any untrue statement or alleged untrue statement of
a material fact contained in any preliminary prospectus if used prior to the
effective date of such Registration Statement and not corrected in any final
prospectus delivered to the Investor in a timely manner, 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 Indemnified Persons, promptly as such expenses are incurred and
are due and

                                       11

<PAGE>

payable, for any legal fees 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 by an Indemnified
Person arising out of or based upon a Violation which occurs in reliance upon
and in conformity with information furnished in writing to the Company by such
Indemnified Person expressly for use in connection with the preparation of the
Registration Statement or any such amendment thereof or supplement thereto, if
such prospectus was timely made available by the Company pursuant to Section
3(d); (ii) shall not be available to the extent such Claim is based on a failure
of the Investor to deliver or to cause to be delivered the prospectus made
available by the Company, if such prospectus was timely made available by the
Company pursuant to Section 3(d); and (iii) 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.

          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 (each an
"INDEMNIFIED PARTY") any Claim or Indemnified Damages to which any of them may
become subject, under the 1933 Act, the 1934 Act or otherwise, insofar as such
Claim or Indemnified Damages arise out of or 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 reasonable expenses incurred by them in connection with investigating
or defending any such Claim; provided, however, that the indemnity agreement
contained in this Section 6(b) and the agreement with respect to contribution
contained in Section 7 shall not apply to amounts paid in settlement of any
Claim if such settlement is effected without the prior written consent of 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 prospectus shall not inure to the benefit of any Indemnified
Party if the untrue statement or omission of material fact contained in the
prospectus was corrected on a timely basis in the prospectus, as then amended or
supplemented.

          c. Promptly after receipt by an Indemnified Person or Indemnified
Party under this Section 6 of notice of the commencement of any action or
proceeding (including any

                                       12
<PAGE>

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

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

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

                                       13
<PAGE>

     7. CONTRIBUTION.

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

     8. REPORTS UNDER THE 1934 ACT.

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

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

          b. file with the SEC in a timely manner all reports and other
documents required of the Company under the 1933 Act and the 1934 Act so long as
the Company remains subject to such requirements (it being understood that
nothing herein shall limit the Company's obligations under Section 4(c) of the
Securities Purchase Agreement) and the filing of such reports and other
documents is required for the applicable provisions of Rule 144; and

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

                                       14

<PAGE>

     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; (iv) at or before the time the Company
receives the written notice contemplated by clause (ii) of this sentence the
transferee or assignee provides the Company with a writing agreeing 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 and the observance thereof may
be waived (either generally or in a particular instance and either retroactively
or prospectively), only with the written consent of the Company and Investors
who then hold a majority of the Registrable Securities. Any amendment or waiver
effected in accordance with this Section 10 shall be binding upon each Investor
and the Company. No such amendment shall be effective to the extent that 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 this Agreement unless the same
consideration also is offered to all of 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.

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

                                       15

<PAGE>

                           Intraware, Inc.
                           2000 Powell Street, Suite 140
                           Emeryville, California 94608
                           Telephone: 925-253-4500
                           Facsimile: 510-597-4890
                           Attention:  President

                  With a copy to:

                           Wilson Sonsini Goodrich & Rosati
                           650 Page Mill Road
                           Palo Alto, California 94304-1050
                           Telephone:       650-493-9300
                           Facsimile:       650-493-6811
                           Attention:       Adam R. Dolinko, Esq.

                  If to Legal Counsel:

                           Katten Muchin & Zavis
                           525 West Monroe Street, Suite 1600
                           Chicago, Illinois 60661-3693
                           Telephone:  312-902-5200
                           Facsimile:  312-902-1061
                           Attention:  Robert J. Brantman, Esq.

If to a Buyer, to its address and facsimile number set forth on the Schedule of
Buyers attached hereto, with copies to such Buyer's representatives as set forth
on the Schedule of Buyers, or to 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. Written confirmation of receipt (A) given by the
recipient of such notice, consent, waiver or other communication, (B)
mechanically or electronically generated by the sender's facsimile machine
containing the time, date, recipient facsimile number and an image of the first
page of such transmission or (C) provided by an overnight courier service shall
be rebuttable evidence of personal service, receipt by facsimile or receipt from
an overnight courier service in accordance with clause (i), (ii) or (iii) above,
respectively.

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

          d. All questions concerning the construction, validity, enforcement
and interpretation of this Agreement shall be governed by the internal laws of
the State of Illinois, without giving effect to any choice of law or conflict of
law provision or rule (whether of the State

                                       16

<PAGE>

of Illinois or any other jurisdictions) that would cause the application of the
laws of any jurisdictions other than the State of Illinois. Each party hereby
irrevocably submits to the non-exclusive jurisdiction of the state and federal
courts sitting in the City of Chicago, for the adjudication of any dispute
hereunder or in connection herewith or with any transaction contemplated hereby
or discussed herein, and hereby irrevocably waives, and agrees not to assert in
any suit, action or proceeding, any claim that it is not personally subject to
the jurisdiction of any such court, that such suit, action or proceeding is
brought in an inconvenient forum or that the venue of such suit, action or
proceeding is improper. Each party hereby irrevocably waives personal service of
process and consents to process being served in any such suit, action or
proceeding by mailing a copy thereof to such party at the address for such
notices to it under this Agreement and agrees that such service shall constitute
good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any
manner permitted by law. If any provision of this Agreement shall be invalid or
unenforceable in any jurisdiction, such invalidity or unenforceability shall not
affect the validity or enforceability of the remainder of this Agreement in that
jurisdiction or the validity or enforceability of any provision of this
Agreement in any other jurisdiction. Each party hereby irrevocably waives any
right it may have, and agrees not to request, a jury trial for the adjudication
of any dispute hereunder or in connection herewith or arising out of this
Agreement or any transaction contemplated hereby.

          e. This Agreement, the Securities Purchase Agreement, the Transaction
Documents (as defined in the Securities Purchase Agreement) and the Certificate
of Designations constitute the entire agreement among the parties hereto with
respect to the subject matter hereof and thereof. There are no restrictions,
promises, warranties or undertakings, other than those set forth or referred to
herein and therein. This Agreement, the Securities Purchase Agreement,
Transaction Documents and the Certificate of Designations 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 one and the
same agreement. This Agreement, once executed by a party, may be delivered to
the other party hereto by facsimile transmission of a copy of this Agreement
bearing the signature of the party so delivering this Agreement.

          i. Each party shall do and perform, or cause to be done and performed,
all such further acts and things, and shall execute and deliver all such other
agreements, certificates, instruments and documents, as the other party may
reasonably request in order to carry out the

                                       17

<PAGE>

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.

          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 rules 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.

                                   * * * * * *

                                       18
<PAGE>

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

COMPANY:                               BUYERS:

INTRAWARE, INC.                        FISHER CAPITAL LTD.

By: /s/ Peter H. Jackson               By: /s/ Daniel J. Hopkins
   -------------------------------         ----------------------------
Name:  Peter H. Jackson                Name: Daniel J. Hopkins
      ------------------------
Title:  CEO                            Title: Authorized Signatory
        ------------------------
                                       WINGATE CAPITAL LTD.

                                       By: /s/  Daniel J. Hopkins
                                          -------------------------------
                                       Name: Daniel J. Hopkins

                                       Title: Authorized Signatory

                                       HFTP INVESTMENT L.L.C.

                                       By: /s/ Stefan Rosen
                                          -------------------------------
                                       Name: Stefan Rosen
                                       Title: Authorized Signatory

                                       MARSHALL CAPITAL MANAGEMENT, INC.

                                       By: /s/ Al Weine
                                          -------------------------------
                                       Name:  Al Weine
                                       Title:  President

<PAGE>

                               SCHEDULE OF BUYERS

<TABLE>
<CAPTION>
                                         NUMBER OF        NUMBER OF         NUMBER OF
                                         SHARES OF       SHARES OF          SHARES OF
                                          SERIES A        SERIES B           SERIES C
          INVESTOR NAME               PREFERRED STOCK  PREFERRED STOCK   PREFERRED STOCK
----------------------------------    ---------------  ---------------   ---------------
<S>                                   <C>              <C>               <C>
Fisher Capital Ltd.                        284               283              283

Wingate Capital Ltd.                       133               134              133

HFTP Investment L.L.C.                     167               166              167

Marshall Capital Management, Inc.          250               250              250

</TABLE>

<PAGE>

                                                                       EXHIBIT A

                         FORM OF NOTICE OF EFFECTIVENESS
                            OF REGISTRATION STATEMENT

[TRANSFER AGENT]
Attn:

                  Re:      Intraware, Inc.

Ladies and Gentlemen:

         We are counsel to Intraware, Inc., a Delaware corporation (the
"COMPANY"), and have represented the Company in connection with that certain
Securities Purchase Agreement (the "PURCHASE AGREEMENT") entered into by and
among the Company and the buyers named therein (collectively, the "HOLDERS")
pursuant to which the Company issued to the Holders shares of its Series A,
Series B and Series C Preferred Stock, par value $0.0001 per share, (the
"PREFERRED SHARES") convertible into shares of the Company's common stock, par
value $0.0001 per share (the "COMMON STOCK"), and warrants to purchase shares of
the Common Stock, subject to adjustment (the "WARRANTS"). Pursuant to the
Purchase Agreement, the Company also has entered into a Registration Rights
Agreement with the Holders (the "REGISTRATION RIGHTS AGREEMENT") pursuant to
which the Company agreed, among other things, to register the Registrable
Securities (as defined in the Registration Rights Agreement), including the
shares of Common Stock issuable upon conversion of the Preferred Shares and
exercise of the Warrants, under the Securities Act of 1933, as amended (the
"1933 ACT"). In connection with the Company's obligations under the Registration
Rights Agreement, on ____________ ___, 200__, the Company filed a Registration
Statement on Form S-3 (File No. 333-_____________) (the "REGISTRATION
STATEMENT") with the Securities and Exchange Commission (the "SEC") relating to
the Registrable Securities which names each of the Holders as a selling
stockholder thereunder.

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

                                  Very truly yours,

                                  [ISSUER'S COUNSEL]

                                  By:
                                     -----------------------------------
cc:      [LIST NAMES OF HOLDERS]

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