Document:

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                                                                 Exhibit 10.2

                          REGISTRATION RIGHTS AGREEMENT

         This Registration Rights Agreement (this "Agreement") is made and
entered into as of November 7, 2003, by and among First Virtual Communications,
Inc., a Delaware corporation (the "Company"), and the purchasers signatory
hereto (each such purchaser, a "Purchaser" and collectively, the "Purchasers").

         This Agreement is made pursuant to the Securities Purchase Agreement,
dated as of the date hereof among the Company and the Purchasers (the "Purchase
Agreement").

         The Company and the Purchasers hereby agree as follows:

                                   ARTICLE I.
                                  DEFINITIONS.

Capitalized terms used and not otherwise defined herein that are defined in the
Purchase Agreement shall have the meanings given such terms in the Purchase
Agreement. As used in this Agreement, the following terms shall have the
following meanings:

                  "Advice" shall have the meaning set forth in Section 6(d).

                  "Effectiveness Date" means, with respect to the Registration
         Statement required to be filed hereunder, the earlier of (a) the 90th
         calendar day following the date of the Filing Date, and (b) the fifth
         Trading Day following the date on which the Company is notified by the
         Commission that the Registration Statement will not be reviewed or is
         no longer subject to further review and comments.

                  "Effectiveness Period" shall have the meaning set forth in
         Section 2(a).

                  "Event" shall have the meaning set fort in Section 2(b).

                  "Event Date" shall have the meaning set forth in Section 2(b).

                  "Filing Date" means, with respect to the Registration
         Statement required to be filed hereunder, the 30th calendar day
         following the Closing Date.

                  "Holder" or "Holders" means the holder or holders, as the case
         may be, from time to time of Registrable Securities.

                  "Indemnified Party" shall have the meaning set forth in
         Section 5(c).

                  "Indemnifying Party" shall have the meaning set forth in
         Section 5(c).

                  "Losses" shall have the meaning set forth in Section 5(a).

                  "Proceeding" means an action, claim, suit, investigation or
         proceeding (including, without limitation, an investigation or partial
         proceeding, such as a deposition), whether commenced or threatened in
         writing.

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                  "Prospectus" means the prospectus included in the Registration
         Statement (including, without limitation, a prospectus that includes
         any information previously omitted from a prospectus filed as part of
         an effective registration statement in reliance upon Rule 430A
         promulgated under the Securities Act), as amended or supplemented by
         any prospectus supplement, with respect to the terms of the offering of
         any portion of the Registrable Securities covered by the Registration
         Statement, and all other amendments and supplements to the Prospectus,
         including post-effective amendments, and all material incorporated by
         reference in such Prospectus.

                  "Registrable Securities" means all of the Shares and the
         Warrant Shares, together with any shares of Common Stock issued or
         issuable upon any stock split, dividend or other distribution,
         recapitalization or similar event with respect to the foregoing;
         provided, however, that a security ceases to be a Registrable Security
         when it: (i) has been registered pursuant to an effective registration
         statement under the Securities Act and sold in a manner contemplated by
         the Registration Statement, or (ii) has been transferred in compliance
         with Rule 144 under the Securities Act (or any successor provision
         thereto) or is transferable pursuant to paragraph (k) of such Rule 144
         (or any successor provision thereto).

                  "Registration Statement" means the registration statements
         required to be filed hereunder, including (in each case) the
         Prospectus, amendments and supplements to the registration statement or
         Prospectus, including pre- and post-effective amendments, all exhibits
         thereto, and all material incorporated by reference in the registration
         statement.

                  "Rule 415" means Rule 415 promulgated by the Commission
         pursuant to the Securities Act, as such Rule may be amended from time
         to time, or any similar rule or regulation hereafter adopted by the
         Commission having substantially the same purpose and effect as such
         Rule.

                  "Rule 424" means Rule 424 promulgated by the Commission
         pursuant to the Securities Act, as such Rule may be amended from time
         to time, or any similar rule or regulation hereafter adopted by the
         Commission having substantially the same purpose and effect as such
         Rule.

                                   ARTICLE II.
                                  REGISTRATION.

         2.1      On or prior to the Filing Date, the Company shall prepare and
file with the Commission the Registration Statement covering the resale of all
of the Registrable Securities for an offering to be made on a continuous basis
pursuant to Rule 415. The Registration Statement required hereunder shall be on
Form S-3 (except if the Company is not then eligible to register for resale the
Registrable Securities on Form S-3, in which case the Registration shall be on
another appropriate form in accordance herewith). The Registration Statement
required hereunder shall contain (except if otherwise directed by the Holders)
substantially the "Plan of Distribution" attached hereto as Annex A. Subject to
the terms of this Agreement, the Company shall use commercially reasonable
efforts to cause the Registration Statement to be declared effective under the
Securities Act as promptly as possible after the filing thereof, but in any
event

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not later than the Effectiveness Date, and shall use commercially reasonable
efforts to keep the Registration Statement continuously effective, subject to
Sections 3(c), 3(i) and 6(d) below, under the Securities Act until the date when
all Registrable Securities covered by the Registration Statement have been sold
or may be sold without volume restrictions pursuant to Rule 144(k) as determined
by the counsel to the Company pursuant to a written opinion letter to such
effect, addressed and acceptable to the Company's transfer agent and the
affected Holders (the "Effectiveness Period").

         2.2      If: (i) a Registration Statement is not filed on or prior to
the Filing Date (if the Company files a Registration Statement without complying
with Section 3(a), the Company shall not be deemed to have satisfied this clause
(i)), or (ii) the Company fails to file with the Commission a request for
acceleration in accordance with Rule 461 promulgated under the Securities Act,
within five Trading Days of the date that the Company is notified (orally or in
writing, whichever is earlier) by the Commission that a Registration Statement
will not be "reviewed," or is not subject to further review (unless the Company
provides notice to the Holders of a circumstance contemplated by Section
3(c)(vi) that would make it appropriate to suspend the filing of the
Registration Statement and the related Prospectus for a reasonable period of
time not to exceed 10 Trading Days), or (iii) prior to the date when such
Registration Statement is first declared effective by the Commission, the
Company fails to file a pre-effective amendment and otherwise respond in writing
to comments made by the Commission in respect of such Registration Statement
within 15 Trading Days after the receipt of comments by or notice from the
Commission that such amendment is required in order for a Registration Statement
to be declared effective, or (iv) a Registration Statement filed or required to
be filed hereunder is not declared effective by the Commission on or before the
Effectiveness Date, or (v) after a Registration Statement is first declared
effective by the Commission, it ceases for any reason to remain continuously
effective as to all Registrable Securities for which it is required to be
effective, or the Holders are not permitted to utilize the Prospectus therein to
resell such Registrable Securities, for in any such case 15 consecutive days but
no more than an aggregate of 30 days during any 12 month period (which need not
be consecutive Trading Days)(any such failure or breach being referred to as an
"Event," and for purposes of clause (i) or (iv) the date on which such Event
occurs, or for purposes of clause (ii) the date on which such five Trading Day
period (or, if there is a delay in filing as a result of a circumstance
contemplated by Section 3(c)(vi), 10 Trading Day period) is exceeded, or for
purposes of clause (iii) the date which such 15 Trading Day period is exceeded,
or for purposes of clause (v) the date on which such 15 or 30 day period, as
applicable, is exceeded being referred to as "Event Date"), then in addition to
any other rights the Holders may have hereunder or under applicable law: (x) on
each such Event Date the Company shall pay to each Holder an amount in cash, as
liquidated damages and not as a penalty, equal to 1.5% of the aggregate purchase
price paid by such Holder pursuant to the Purchase Agreement for any Registrable
Securities then held by such Holder; and (y) on each monthly anniversary of each
such Event Date (if the applicable Event shall not have been cured by such date)
until the applicable Event is cured, the Company shall pay to each Holder an
amount in cash, as liquidated damages and not as a penalty, equal to 1.5% of the
aggregate purchase price paid by such Holder pursuant to the Purchase Agreement
for any Registrable Securities then held by such Holder; provided, however, that
under no circumstances shall the Company be required to pay hereunder to any
Holder during any one month period in excess of an aggregate of 1.5% of the
aggregate purchase price paid by such Holder pursuant to the Purchase Agreement
for any Registrable Securities then held by such Holder. If the Company

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fails to pay any liquidated damages pursuant to this Section 2(b) in full within
10 Trading Days after the date payable, the Company will pay interest thereon at
a rate of 15% per annum (or such lesser maximum amount that is permitted to be
paid by applicable law) to the Holder, accruing daily from the date such
liquidated damages are due until such amounts, plus all such interest thereon,
are paid in full. The liquidated damages pursuant to the terms hereof shall
apply on a daily pro-rata basis for any portion of a month prior to the cure of
an Event.

                                  ARTICLE III.
                             REGISTRATION PROCEDURES

         In connection with the Company's registration obligations hereunder,
the Company shall:

         3.1      Not less than five Trading Days prior to the filing of the
Registration Statement or two days prior to the filing of any related Prospectus
or any amendment or supplement thereto, the Company shall, (i) furnish to the
Holders copies of all such documents proposed to be filed (including documents
incorporated or deemed incorporated by reference to the extent requested by such
Person) which documents will be subject to the review of such Holders, and (ii)
cause its officers and directors, counsel and independent certified public
accountants to respond to such reasonable inquiries as shall be necessary, in
the reasonable opinion of respective counsel to conduct a reasonable
investigation within the meaning of the Securities Act. The Company shall not
file the Registration Statement or any such Prospectus or any amendments or
supplements thereto to which the Holders of a majority of the Registrable
Securities then held by all Holders shall reasonably object in good faith,
provided that the Company is notified of such objection in writing prior to the
date 2 Trading Days after the Holders have been so furnished copies of such
documents proposed to be filed. If the Company fails to file a Registration
Statement or any such prospectus or any amendments or supplements thereto so as
to give rise to an Event contemplated by Section 2(b) as a result of the Holders
objection to the filing of the Registration Statement, the Company shall not be
required to pay any liquidated damages contemplated by Section 2(b) with respect
to such Event for any delay resulting from the Holder's objection to such
filing.; provided, however, if it is later determined that such objections were
reasonable and in good faith, the Company shall be required to pay such
liquidated damages contemplated by Section 2(b) with respect to such Event.

         3.2      (i) Prepare and file with the Commission such amendments,
including post-effective amendments, to the Registration Statement and the
Prospectus used in connection therewith as may be necessary to keep the
Registration Statement continuously effective as to the applicable Registrable
Securities for the Effectiveness Period; (ii) cause the related Prospectus to be
amended or supplemented by any required Prospectus supplement, and as so
supplemented or amended to be filed pursuant to Rule 424; (iii) reasonable
efforts to respond as promptly as reasonably practicable to any comments
received from the Commission with respect to the Registration Statement or any
amendment thereto and, as promptly as reasonably possible, upon request, provide
the Holders true and complete copies of all correspondence from and to the
Commission relating to the Registration Statement; and (iv) comply in all
material respects with the provisions of the Securities Act and the Exchange Act
with respect to the disposition of all Registrable Securities covered by the
Registration Statement during the applicable period in accordance with the
intended methods of disposition by the Holders thereof set forth in the
Registration Statement as so amended or in such Prospectus as so supplemented.

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         3.3      Notify the Holders of Registrable Securities to be sold as
promptly as reasonably possible and (if requested by any such Person) confirm
such notice in writing promptly following the day (i)(A) when a Prospectus or
any Prospectus supplement or post-effective amendment to the Registration
Statement is proposed to be filed; (B) the Commission notifies the Company that
there will be a "review" of the Registration Statement and if the Commission
comments in writing on the Registration Statement (the Company shall upon
request provide true and complete copies thereof and all written responses
thereto to each of the Holders); and (C) with respect to the Registration
Statement or any post-effective amendment, when the same has become effective;
(ii) of any request by the Commission or any other Federal or state governmental
authority during the period of effectiveness of the Registration Statement for
amendments or supplements to the Registration Statement or Prospectus or for
additional information with respect to the Registration Statement; (iii) of the
issuance by the Commission or any other federal or state governmental authority
of any stop order suspending the effectiveness of the Registration Statement
covering any or all of the Registrable Securities or the initiation of any
Proceedings for that purpose; (iv) of the receipt by the Company of any
notification with respect to the suspension of the qualification or exemption
from qualification of any of the Registrable Securities for sale in any
jurisdiction, or the initiation or threatening of any Proceeding for such
purpose; and (v) of the occurrence of any event or passage of time that makes
the financial statements included in the Registration Statement ineligible for
inclusion therein or any statement made in the Registration Statement or
Prospectus or any document incorporated or deemed to be incorporated therein by
reference untrue in any material respect or that requires any revisions to the
Registration Statement, Prospectus or other documents so that, in the case of
the Registration Statement or the Prospectus, as the case may be, it will not
contain any untrue statement of a material fact or omit to state any 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, or
(vi) of the occurrence or existence of a pending corporate development or other
material non-public information concerning the Company that, in the reasonable
discretion of the Company, makes it appropriate to suspend the availability of
the Registration Statement and the related Prospectus.

         3.4      Use commercially reasonable efforts to avoid the issuance of,
or, if issued, obtain the withdrawal of (i) any order suspending the
effectiveness of the Registration Statement, or (ii) any suspension of the
qualification (or exemption from qualification) of any of the Registrable
Securities for sale in any jurisdiction, as soon as reasonably practicable.

         3.5      Furnish to each Holder, without charge, at least one conformed
copy of the Registration Statement and each amendment thereto, including
financial statements and schedules, all documents incorporated or deemed to be
incorporated therein by reference to the extent requested by such Person, and
all exhibits to the extent requested by such Person (including those previously
furnished or incorporated by reference) promptly after the filing of such
documents with the Commission.

         3.6      Upon request, promptly deliver to each Holder, without charge,
as many copies of the Prospectus or Prospectuses (including each form of
prospectus) and each amendment or supplement thereto as such Persons may
reasonably request in connection with resales by the Holder of Registrable
Securities. Subject to the terms of this Agreement, the Company hereby consents
to the use of such Prospectus and each amendment or supplement thereto by each
of the

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selling Holders in connection with the offering and sale of the Registrable
Securities covered by such Prospectus and any amendment or supplement thereto,
except after the giving of any notice pursuant to clauses (ii) through (vii) of
Section 3(c).

         3.7      Prior to any resale of Registrable Securities by a Holder, use
its commercially reasonable efforts to register or qualify or cooperate with the
selling Holders in connection with the registration or qualification (or
exemption from the Registration or qualification) of such Registrable Securities
for the resale by the Holder under the securities or Blue Sky laws of such
jurisdictions within the United States as any Holder reasonably requests in
writing, to keep each such Registration or qualification (or exemption
therefrom) effective during the Effectiveness Period and to do any and all other
acts or things reasonably necessary to enable the disposition in such
jurisdictions of the Registrable Securities covered by the Registration
Statement; provided, that the Company shall not be required to qualify generally
to do business in any jurisdiction where it is not then so qualified, subject
the Company to any material tax in any such jurisdiction where it is not then so
subject or file a general consent to service of process in any such
jurisdiction.

         3.8      If requested by the Holders, cooperate with the Holders to
facilitate the timely preparation and delivery of certificates representing
Registrable Securities to be delivered to a transferee pursuant to the
Registration Statement, which certificates shall be free, to the extent
permitted by the Purchase Agreement and applicable state and federal securities
laws, of all restrictive legends, and to enable such Registrable Securities to
be in such denominations and registered in such names as any such Holders may
request.

         3.9      Upon the occurrence of any event contemplated by Section
3(c)(v), as promptly as reasonably possible, prepare a supplement or amendment,
including a post-effective amendment, to the Registration Statement or a
supplement to the related Prospectus or any document incorporated or deemed to
be incorporated therein by reference, and file any other required document so
that, as thereafter delivered, neither the Registration Statement nor such
Prospectus will contain an 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 under which they were made,
not misleading. If the Company notifies the Holders in accordance with clauses
(ii) through (vi) of Section 3(c) above to suspend the use of the use of any
Prospectus until the requisite changes to such Prospectus have been made, then
the Holders shall suspend use of such Prospectus. The Company will use its best
efforts to ensure that the use of the Prospectus may be resumed as promptly as
is practicable. The Company shall be entitled to exercise its right under this
Section 3(i) to suspend the availability of a Registration Statement and
Prospectus, subject to the payment of liquidated damages pursuant to Section
2(b), for a period not to exceed 60 consecutive days or for multiple periods not
to exceed 90 days in the aggregate in any 12 month period.

         3.10     Comply with all applicable rules and regulations of the
Commission.

         3.11     The Company may require each Holder to furnish to the Company
a certified statement as to the number of shares of Common Stock beneficially
owned by such Holder and the person thereof that has voting and dispositive
control over the Shares. During any periods that the Company is unable to meet
its obligations hereunder with respect to the registration of

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the Registrable Securities solely because any Holder fails to furnish such
information within three Trading Days of the Company's request, any liquidated
damages that are accruing at such time or that result from such delay shall be
tolled and any Event that may otherwise occur solely because of such delay shall
be suspended, until such information is delivered to the Company.

                                   ARTICLE IV.
                              REGISTRATION EXPENSES

All fees and expenses incident to the performance of or compliance with this
Agreement by the Company shall be borne by the Company whether or not any
Registrable Securities are sold pursuant to the Registration Statement. The fees
and expenses referred to in the foregoing sentence shall include, without
limitation, (i) all registration and filing fees (including, without limitation,
fees and expenses (A) with respect to filings required to be made with the
Trading Market on which the Common Stock is then listed for trading, and (B) in
compliance with applicable state securities or Blue Sky laws), (ii) printing
expenses (including, without limitation, expenses of printing certificates for
Registrable Securities and of printing prospectuses if the printing of
prospectuses is reasonably requested by the holders of a majority of the
Registrable Securities included in the Registration Statement), (iii) messenger,
telephone and delivery expenses, (iv) fees and disbursements of counsel for the
Company, (v) Securities Act liability insurance, if the Company so desires such
insurance, and (vi) fees and expenses of all other Persons retained by the
Company in connection with the consummation of the transactions contemplated by
this Agreement. In addition, the Company shall be responsible for all of its
internal expenses incurred in connection with the consummation of the
transactions contemplated by this Agreement (including, without limitation, all
salaries and expenses of its officers and employees performing legal or
accounting duties), the expense of any annual audit and the fees and expenses
incurred in connection with the listing of the Registrable Securities on any
securities exchange as required hereunder. In no event shall the Company be
responsible for any broker or similar commissions or, except to the extent
provided for in the Transaction Documents, any legal fees or other costs of the
Holders.

                                   ARTICLE V.
                                 INDEMNIFICATION

         5.1      Indemnification by the Company. The Company shall,
notwithstanding any termination of this Agreement, indemnify and hold harmless
each Holder, the officers, directors, agents and employees of each of them, each
Person who controls any such Holder (within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act) and the officers, directors,
agents and employees of each such controlling Person, to the fullest extent
permitted by applicable law, from and against any and all losses, claims,
damages, liabilities, costs (including, without limitation, reasonable
attorneys' fees) and expenses (collectively, "Losses"), as incurred, arising out
of or relating to any untrue or alleged untrue statement of a material fact
contained in the Registration Statement, any Prospectus or any form of
prospectus or in any amendment or supplement thereto or in any preliminary
prospectus, pursuant to which Registrable Securities were registered under the
Securities Act or arising out of or relating to any omission or alleged omission
of a material fact required to be stated therein or necessary to make the
statements therein (in the case of any Prospectus or form of prospectus or
supplement thereto, in light of the circumstances under which they were made)
not misleading, except to the extent,

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but only to the extent, that (i) such untrue statements or omissions or alleged
untrue statements or omissions are based upon information regarding such Holder
furnished in writing to the Company by such Holder for use therein, or to the
extent that such information relates to such Holder or such Holder's proposed
method of distribution of Registrable Securities and was reviewed and expressly
approved in writing by such Holder for use in the Registration Statement, such
Prospectus or such form of Prospectus or in any amendment or supplement thereto
(it being understood that the Holder has approved Annex A hereto for this
purpose) or (ii) in the case of an occurrence of an event of the type specified
in Section 3(c)(ii)-(v), the use by such Holder of an outdated or defective
Prospectus after the Company has notified such Holder in writing that the
Prospectus is outdated or defective and prior to the receipt by such Holder of
the Advice contemplated in Section 6(d). The Company shall notify the Holders
promptly of the institution, threat or assertion of any Proceeding of which the
Company is aware in connection with the transactions contemplated by this
Agreement.

         5.2      Indemnification by Holders. Each Holder shall, severally and
not jointly, indemnify and hold harmless the Company, its directors, officers,
agents and employees, each Person who controls the Company (within the meaning
of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the
directors, officers, agents or employees of such controlling Persons, to the
fullest extent permitted by applicable law, from and against all Losses, as
incurred, to the extent arising out of or based upon: (x) such Holder's failure
to comply with the prospectus delivery requirements of the Securities Act or (y)
any untrue or alleged untrue statement of a material fact contained in any
Registration Statement, any Prospectus, or any form of prospectus, or in any
amendment or supplement thereto or in any preliminary prospectus, or arising out
of or relating to any omission or alleged omission of a material fact required
to be stated therein or necessary to make the statements therein not misleading
(i) to the extent, but only to the extent, that such untrue statement or
omission is contained in any information so furnished in writing by such Holder
to the Company for inclusion in the Registration Statement or such Prospectus or
(ii) to the extent that (1) such untrue statements or omissions are based upon
information regarding such Holder furnished in writing to the Company by such
Holder for use therein, or to the extent that such information relates to such
Holder or such Holder's proposed method of distribution of Registrable
Securities and was reviewed and approved in writing by such Holder for use in
the Registration Statement (it being understood that the Holder has approved
Annex A hereto for this purpose), such Prospectus or such form of Prospectus or
in any amendment or supplement thereto or (2) in the case of an occurrence of an
event of the type specified in Section 3(c)(ii)-(vi), the use by such Holder of
an outdated or defective Prospectus after the Company has notified such Holder
in writing that the Prospectus is outdated or defective and prior to the receipt
by such Holder of the Advice contemplated in Section 6(d). In no event shall the
liability of any selling Holder hereunder be greater in amount than the dollar
amount of the gross proceeds received by such Holder upon the sale of the
Registrable Securities giving rise to such indemnification obligation.

         5.3      Conduct of Indemnification Proceedings. If any Proceeding
shall be brought or asserted against any Person entitled to indemnity hereunder
(an "Indemnified Party"), such Indemnified Party shall promptly notify the
Person from whom indemnity is sought (the "Indemnifying Party") in writing, and
the Indemnifying Party shall have the right to assume the defense thereof,
including the employment of counsel reasonably satisfactory to the Indemnified
Party and the payment of all fees and expenses incurred in connection with
defense thereof;

<PAGE>

provided, that the failure of any Indemnified Party to give such notice shall
not relieve the Indemnifying Party of its obligations or liabilities pursuant to
this Agreement, except (and only) to the extent that it shall be finally
determined by a court of competent jurisdiction (which determination is not
subject to appeal or further review) that such failure shall have prejudiced the
Indemnifying Party.

         An Indemnified Party shall have the right to employ separate counsel in
any such Proceeding and to participate in the defense thereof, but the fees and
expenses of such counsel shall be at the expense of such Indemnified Party or
Parties unless: (1) the Indemnifying Party has agreed in writing to pay such
fees and expenses; (2) the Indemnifying Party shall have failed promptly to
assume the defense of such Proceeding and to employ counsel reasonably
satisfactory to such Indemnified Party in any such Proceeding; or (3) the named
parties to any such Proceeding (including any impleaded parties) include both
such Indemnified Party and the Indemnifying Party, and such Indemnified Party
shall reasonably believe that a material conflict of interest is likely to exist
if the same counsel were to represent such Indemnified Party and the
Indemnifying Party (in which case, if such Indemnified Party notifies the
Indemnifying Party in writing that it elects to employ separate counsel at the
expense of the Indemnifying Party, the Indemnifying Party shall not have the
right to assume the defense thereof and the reasonable fees and expenses of one
separate counsel shall be at the expense of the Indemnifying Party). The
Indemnifying Party shall not be liable for any settlement of any such Proceeding
effected without its written consent, which consent shall not be unreasonably
withheld. No Indemnifying Party shall, without the prior written consent of the
Indemnified Party, effect any settlement of any pending Proceeding in respect of
which any Indemnified Party is a party, unless such settlement includes an
unconditional release of such Indemnified Party from all liability on claims
that are the subject matter of such Proceeding.

         Subject to the terms of this Agreement, all reasonable fees and
expenses of the Indemnified Party (including reasonable fees and expenses to the
extent incurred in connection with investigating or preparing to defend such
Proceeding in a manner not inconsistent with this Section) shall be paid to the
Indemnified Party, as incurred, within ten Trading Days of written notice
thereof to the Indemnifying Party; provided, that the Indemnified Party shall
promptly reimburse the Indemnifying Party for that portion of such fees and
expenses applicable to such actions for which such Indemnified Party is not
entitled to indemnification hereunder, determined based upon the relative faults
of the parties.

         5.4      Contribution. If a claim for indemnification under Section
5(a) or 5(b) is unavailable to an Indemnified Party (by reason of public policy
or otherwise), then each Indemnifying Party, in lieu of indemnifying such
Indemnified Party, shall contribute to the amount paid or payable by such
Indemnified Party as a result of such Losses, in such proportion as is
appropriate to reflect the relative fault of the Indemnifying Party and
Indemnified Party in connection with the actions, statements or omissions that
resulted in such Losses as well as any other relevant equitable considerations.
The relative fault of such Indemnifying Party and Indemnified Party shall be
determined by reference to, among other things, whether any action in question,
including any untrue or alleged untrue statement of a material fact or omission
or alleged omission of a material fact, has been taken or made by, or relates to
information supplied by, such Indemnifying Party or Indemnified Party, and the
parties' relative intent, knowledge, access to information and opportunity to
correct or prevent such action, statement or omission.

<PAGE>

The amount paid or payable by a party as a result of any Losses shall be deemed
to include, subject to the limitations set forth in this Agreement, any
reasonable attorneys' or other reasonable fees or expenses incurred by such
party in connection with any Proceeding to the extent such party would have been
indemnified for such fees or expenses if the indemnification provided for in
this Section was available to such party in accordance with its terms.

         The parties hereto agree that it would not be just and equitable if
contribution pursuant to this Section 5(d) were determined by pro rata
allocation or by any other method of allocation that does not take into account
the equitable considerations referred to in the immediately preceding paragraph.
Notwithstanding the provisions of this Section 5(d), no Holder shall be required
to contribute, in the aggregate, any amount in excess of the amount by which the
proceeds actually received by such Holder from the sale of the Registrable
Securities subject to the Proceeding exceeds the amount of any damages that such
Holder has otherwise been required to pay by reason of such untrue or alleged
untrue statement or omission or alleged omission, except in the case of fraud by
such Holder.

         The indemnity and contribution agreements contained in this Section are
in addition to any liability that the Indemnifying Parties may have to the
Indemnified Parties.

                                   ARTICLE VI.
                                  MISCELLANEOUS

         6.1      Remedies. In the event of a breach by the Company or by a
Holder, of any of their obligations under this Agreement, each Holder or the
Company, as the case may be, in addition to being entitled to exercise all
rights granted by law and under this Agreement, including recovery of damages,
will be entitled to specific performance of its rights under this Agreement. The
Company and each Holder agree that monetary damages would not provide adequate
compensation for any losses incurred by reason of a breach by it of any of the
provisions of this Agreement and hereby further agrees that, in the event of any
action for specific performance in respect of such breach, it shall waive the
defense that a remedy at law would be adequate.

         6.2      No Piggyback on Registrations. Except as set forth on Schedule
6(b) attached hereto, neither the Company nor any of its security holders (other
than the Holders in such capacity pursuant hereto) may include securities of the
Company in a Registration Statement other than the Registrable Securities, and
the Company shall not after the date hereof enter into any agreement providing
any such right to any of its security holders. Except as set forth on Schedule
6(b), no Person has any right to cause the Company to effect the registration
under the Securities Act of any securities of the Company. The Company shall not
file any other registration statement (other than a registration statement on
Form S-8) until after the Effective Date.

         6.3      Compliance. Each Holder covenants and agrees that it will
comply with the prospectus delivery requirements of the Securities Act as
applicable to it in connection with sales of Registrable Securities pursuant to
the Registration Statement.

<PAGE>

         6.4      Discontinued Disposition. Each Holder agrees by its
acquisition of such Registrable Securities that, upon receipt of a notice from
the Company of the occurrence of any event of the kind described in Section
3(c), such Holder will forthwith discontinue disposition of such Registrable
Securities under the Registration Statement until such Holder's receipt of the
copies of the supplemented Prospectus and/or amended Registration Statement or
until it is advised in writing (the "Advice") by the Company that the use of the
applicable Prospectus may be resumed, and, in either case, has received copies
of any additional or supplemental filings that are incorporated or deemed to be
incorporated by reference in such Prospectus or Registration Statement. The
Company will use its best efforts to ensure that the use of the Prospectus may
be resumed as promptly as it practicable. The Company agrees and acknowledges
that any periods during which the Holder is required to discontinue the
disposition of the Registrable Securities hereunder shall be subject to the
provisions of Section 2(b).

         6.5      Piggy-Back Registrations. If at any time during the
Effectiveness Period there is not an effective Registration Statement covering
all of the Registrable Securities and the Company shall determine to prepare and
file with the Commission a registration statement relating to an offering for
its own account or the account of others under the Securities Act of any of its
equity securities, other than on Form S-4 or Form S-8 (each as promulgated under
the Securities Act) or their then equivalents relating to equity securities to
be issued solely in connection with any acquisition of any entity or business or
equity securities issuable in connection with the stock option or other employee
benefit plans, then the Company shall send to each Holder a written notice of
such determination and, if within fifteen days after the date of such notice,
any such Holder shall so request in writing, the Company shall include in such
registration statement all or any part of such Registrable Securities such
Holder requests to be registered, subject to customary underwriter cutbacks
applicable to all holders of registration rights.

         6.6      Amendments and Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof
may not be given, unless the same shall be in writing and signed by the Company
and each Holder of the then outstanding Registrable Securities.

         6.7      Notices. Any and all notices or other communications or
deliveries required or permitted to be provided hereunder shall be made in
accordance with the provisions of the Purchase Agreement.

         6.8      Successors and Assigns. This Agreement shall inure to the
benefit of and be binding upon the successors and permitted assigns of each of
the parties and shall inure to the benefit of each Holder. Each Holder may
assign their respective rights hereunder in the manner and to the Persons as
permitted under the Purchase Agreement.

         6.9      Execution and Counterparts. This Agreement may be executed in
any number of counterparts, each of which when so executed shall be deemed to be
an original and, all of which taken together shall constitute one and the same
Agreement. In the event that any signature is delivered by facsimile
transmission, such signature shall create a valid binding obligation of the

<PAGE>

party executing (or on whose behalf such signature is executed) the same with
the same force and effect as if such facsimile signature were the original
thereof.

         6.10     Governing Law. All questions concerning the construction,
validity, enforcement and interpretation of this Agreement shall be determined
with the provisions of the Purchase Agreement.

         6.11     Cumulative Remedies. The remedies provided herein are
cumulative and not exclusive of any remedies provided by law.

         6.12     Severability. If any term, provision, covenant or restriction
of this Agreement is held by a court of competent jurisdiction to be invalid,
illegal, void or unenforceable, the remainder of the terms, provisions,
covenants and restrictions set forth herein shall remain in full force and
effect and shall in no way be affected, impaired or invalidated, and the parties
hereto shall use their commercially reasonable efforts to find and employ an
alternative means to achieve the same or substantially the same result as that
contemplated by such term, provision, covenant or restriction. It is hereby
stipulated and declared to be the intention of the parties that they would have
executed the remaining terms, provisions, covenants and restrictions without
including any of such that may be hereafter declared invalid, illegal, void or
unenforceable.

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

         6.14     Independent Nature of Purchasers' Obligations and Rights. The
obligations of each Holder hereunder are several and not joint with the
obligations of any other Holder hereunder, and no Holder shall be responsible in
any way for the performance of the obligations of any other Holder hereunder.
Nothing contained herein or in any other agreement or document delivered at any
closing, and no action taken by any Holder pursuant hereto or thereto, shall be
deemed to constitute the Holders as a partnership, an association, a joint
venture or any other kind of entity, or create a presumption that the Holders
are in any way acting in concert with respect to such obligations or the
transactions contemplated by this Agreement. Each Holder shall be entitled to
protect and enforce its rights, including without limitation the rights arising
out of this Agreement, and it shall not be necessary for any other Holder to be
joined as an additional party in any proceeding for such purpose.

                            *************************

<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Registration Rights
Agreement as of the date first written above.

                                            FIRST VIRTUAL COMMUNICATIONS, INC.

                                            By: /s/ TRUMAN COLE
                                                ------------------------------
                                            Name: Truman Cole
                                            Title: Chief Financial Officer

                       [SIGNATURE PAGE OF HOLDERS FOLLOWS]

<PAGE>

                    [PURCHASER'S SIGNATURE PAGE TO FVCX RRA]

                                    [PURCHASER]

                                    By: ________________________________________
                                        Name:
                                        Title:
<PAGE>

                                  SCHEDULE 6(b)

         The Company has outstanding obligations to register securities of the
Company as follows: (i) the Company is obligated to register 642,921 shares of
Common Stock that were issued to Net One Systems Co., Ltd. ("Net One") in early
October 2003 pursuant to that certain Equity Investment Agreement dated
September 30, 2003 by and between the Company and Net One; (ii) the Company has
certain obligations pursuant to that certain Registration Rights Agreement dated
as of June 2000, by and between the Company and Vulcan Inc., to register the
shares of common stock issuable upon conversion of the Series A Preferred Stock
and upon exercise of a warrant to purchase common stock held by Vulcan, Inc.;
(iii) the Company has certain obligations pursuant to that certain Registration
Rights Agreement dated as of April 12, 2002, by and among the Company and the
investors referenced therein, and (iv) the Company is obligated to register any
shares that may be issued to Ralph Ungermann, Executive Chairman of the
Company's Board of Directors, pursuant to that certain Private Equity Line
Financing Agreement dated as of April 14, 2003 between the Company and Mr.
Ungermann. The Company intends to include the 642,921 shares issued to Net One
pursuant to the Equity Investment Agreement referenced above on the Registration
Statement.

<PAGE>

                                     ANNEX A

                              Plan of Distribution

         The Selling Stockholders (the "Selling Stockholders") of the common
stock ("Common Stock") of First Virtual Communications, Inc. (the "Company") and
any of their pledgees, assignees and successors-in-interest may, from time to
time, sell any or all of their shares of Common Stock on the Nasdaq SmallCap
Market or any other stock exchange, market or trading facility on which the
shares are traded or in private transactions. These sales may be at fixed or
negotiated prices. The Selling Stockholders may use any one or more of the
following methods when selling shares:

-        ordinary brokerage transactions and transactions in which the
         broker-dealer solicits purchasers, which may include long sales or
         short sales effected after the effective date of the prospectus of
         which this registration statement is a part;

-        block trades in which the broker-dealer will attempt to sell the shares
         as agent but may position and resell a portion of the block as
         principal to facilitate the transaction;

-        purchases by a broker-dealer as principal and resale by the
         broker-dealer for its account;

-        an exchange distribution in accordance with the rules of the applicable
         exchange;

-        privately negotiated transactions;

-        "at the market" or through market makers or into an existing market for
         the shares

-        broker-dealers may agree with the Selling Stockholders to sell a
         specified number of such shares at a stipulated price per share;

-        a combination of any such methods of sale;

-        through the writing or settlement of options or other hedging
         transactions, whether through an options exchange or otherwise; or

-        any other method permitted pursuant to applicable law.

         The Selling Stockholders may also sell shares under Rule 144 under the
Securities Act of 1933, as amended (the "Securities Act"), if available, rather
than under this prospectus.

         Broker-dealers engaged by the Selling Stockholders may arrange for
other brokers-dealers to participate in sales. Broker-dealers may receive
commissions or discounts from the Selling Stockholders (or, if any broker-dealer
acts as agent for the purchaser of shares, from the purchaser) in amounts to be
negotiated. The Selling Stockholders do not expect these commissions and
discounts to exceed what is customary in the types of transactions involved.

         In connection with the sale of our common stock or interests therein,
the Selling Stockholders may enter into hedging transactions with broker-dealers
or other financial

<PAGE>

institutions, which may in turn engage in short sales of the common stock in the
course of hedging the positions they assume. The Selling Stockholders may also
sell shares of our common stock short and deliver these securities to close out
their short positions, or loan or pledge the common stock to broker-dealers that
in turn may sell these securities. The Selling Stockholders may also enter into
option or other transactions with broker-dealers or other financial institutions
or the creation of one or more derivative securities which require the delivery
to such broker-dealer or other financial institution of shares offered by this
prospectus, which shares such broker-dealer or other financial institution may
resell pursuant to this prospectus (as supplemented or amended to reflect such
transaction).

         The Selling Stockholders and any broker-dealers or agents that are
involved in selling the shares may be deemed to be "underwriters" within the
meaning of the Securities Act in connection with such sales. In such event, any
commissions received by such broker-dealers or agents and any profit on the
resale of the shares purchased by them may be deemed to be underwriting
commissions or discounts under the Securities Act. Each of the Selling
Stockholders have informed the Company that it does not have any agreement or
understanding, directly or indirectly, with any person to distribute the Common
Stock. Some of the underwriters or agents and their associates may be customers
of, engage in transactions with and perform services for the Company in the
ordinary course of business.

         The Company is required to pay certain fees and expenses incurred by
the Company incident to the registration of the shares, including all reasonable
costs and expenses incurred by us or the Selling Stockholders and all
registration and filing fees and legal fees and accounting fees.

         The Company has agreed to indemnify the Selling Stockholders and
certain control and other related persons related to the foregoing persons
against certain losses, claims, damages and liabilities, including liabilities
under the Securities Act. The Selling Stockholders have agreed to indemnify the
Company in certain circumstances, as well as certain related persons, against
certain liabilities, including liabilities under the Securities Act.

         The Selling Stockholders are not obligated to, and there is no
assurance that the Selling Stockholders will, sell any or all of the shares
being offered by this prospectus.

        The Company has agreed with the Selling Stockholders to keep the
registration statement effective until the shares being offered by this
prospectus may be sold without registration or restriction pursuant to Rule
144(k) promulgated under the Securities Act, or, if earlier, until the
distribution contemplated in this prospectus has been completed.<PAGE>

                                                                    EXHIBIT 10.3

                           EQUITY INVESTMENT AGREEMENT

      This Equity Investment Agreement (the "AGREEMENT") is made as of September
30th, 2003 (the "EFFECTIVE DATE"), by and between FIRST VIRTUAL COMMUNICATIONS,
INC., a Delaware corporation with its principal place of business at 3200 Bridge
Parkway, Suite 202, Redwood City, CA 94065 (the "COMPANY"), and NET ONE SYSTEMS
CO., LTD, a Japanese corporation with its principal place of business at Sphere
Tower Tennoz, 2-8, Higashi Shinagawa 2-Chome, Shinagawa-Ku, Tokyo 140-8621,
Japan (the "PURCHASER").

      WHEREAS, the Company and the Purchaser are parties to that certain First
Virtual Communications Partner Agreement dated April 1, 2002, as amended on the
date hereof (the "DISTRIBUTION AGREEMENT");

      WHEREAS, in connection with the Distribution Agreement, the Purchaser
acquired products from the Company for distribution, including the products
listed in EXHIBIT A hereto (the products listed on Exhibit A are referred to
herein as the "PRODUCTS"); and

      WHEREAS, as consideration for the return of the Products to the Company,
the Company wishes to sell to the Purchaser, and the Purchaser wishes to
purchase from the Company, shares of the Company's Common Stock, par value
$0.001 per share (the "COMMON STOCK"), on the terms and subject to the
conditions set forth in this Agreement.

                                    AGREEMENT

      In consideration of the mutual covenants contained in this Agreement, and
for other good and valuable consideration, the receipt of which is hereby
acknowledged, the Company and the Purchaser hereby agree as follows:

      1. AGREEMENT TO SELL AND PURCHASE THE SHARES.

               1.1 At the Closing (as defined below), the Company will sell to
the Purchaser, and the Purchaser will purchase from the Company, a number of
shares of Common Stock (the "SHARES") equal to the aggregate amount paid by the
Purchaser to the Company for the Products, which includes the processing fee,
divided by the average closing price of the Company's Common Stock as reported
on Nasdaq for the thirty (30) trading days prior to the date of this Agreement
(the "PURCHASE PRICE"), in consideration for the return in full to the Company
of the Products.

      2. CLOSING AND DELIVERY.

               2.1 CLOSING. The closing of the purchase and sale of the Shares
(the "CLOSING") shall be held at the offices of Cooley Godward LLP, 4401
Eastgate Mall, San Diego, California 92121-9109 on October 3, 2003, or such
other date as the parties may agree (the "CLOSING DATE"). At or prior to the
Closing, the Purchaser and the Company shall execute any related agreements or
other documents required to be executed hereunder, dated as of the date hereof.

                                       1
<PAGE>
      2.2 DELIVERY.

               (A) At the Closing, the Company shall deliver to the Purchaser
the stock certificates registered in the name of the Purchaser, and/or in such
nominee name(s) as designated in writing by the Purchaser, representing the
Shares against payment of the Purchase Price, as set forth in Section 1.1.

               (B) On or before October 3, 2003, the Purchaser shall deliver the
Products to the Purchaser's Tokyo, Japan facility (the "Facility"). At the
Closing, the Purchaser shall sell, assign, transfer, convey and deliver to the
Company, good and valid title to the Products at the Facility, and risk of loss
with respect to the Products shall pass to the Company. The then current
representative of FVC Japan (Mr. Takayuki Kanda is designated by the Company on
the Effective Date) shall accept the Products on behalf of the Company and issue
a written notice of such acceptance to the Purchaser at which time payment for
the Shares by the Purchaser is deemed to be completed. The Purchaser agrees to
provide warehousing space for the Products in the Facility for up to ninety (90)
days from the Effective Date at no charge to the Company. Thereafter the
Purchaser may dispose the remaining Products at its own expense. The Company
shall have reasonable access to the Products while they are stored in such
warehouse. While the Products are stored in the Facility, the Purchaser shall be
in possession of the Products in a fiduciary capacity until a carrier appointed
by the Company accepts the Products for delivery to a location specified by the
Company. In the event the Company determines some or all of the Products should
be transferred to the Company's California location, the Purchaser will, in the
Company's sole discretion, either pay directly for or reimburse the Company for
all freight, insurance and other expenses associated with such transfer.

      3. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY.

      The Company hereby represents and warrants as of the date hereof to, and
covenants to, the Purchaser as follows:

               3.1 ORGANIZATION AND GOOD STANDING. The Company has been duly
incorporated and is validly existing as a corporation in good standing under the
laws of the State of Delaware, has full corporate power and authority to own or
lease its properties and conduct its business as presently conducted, and is
duly qualified as a foreign corporation and in good standing in all
jurisdictions in which the character of the property owned or leased or the
nature of the business transacted by it makes qualification necessary, except
where the failure to be so qualified would not have a material adverse effect on
the business, properties, financial condition or results of operations of the
Company.

               3.2 CORPORATE POWER; AUTHORIZATION. The Company has all requisite
corporate power, and has taken all requisite corporate action, to execute and
deliver this Agreement, sell and issue the Shares and carry out and perform all
of its obligations under this Agreement. This Agreement constitutes a legal,
valid and binding obligation of the Company, enforceable in accordance with its
terms, except (i) as limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws relating to or affecting the
enforcement of creditors' rights generally, (ii) as limited by equitable
principles generally, including any

                                       2
<PAGE>
specific performance and (iii) to the extent that the enforceability of the
indemnification provisions of Section 5.3 may be limited by applicable laws.

               3.3 CAPITALIZATION. The Company has authorized and outstanding
(as of the dates indicated) shares of capital stock as set forth in its
Securities and Exchange Act Reports (the "Exchange Act Reports") filed with the
United States Securities and Exchange Commission. The outstanding shares of
capital stock of the Company (i) have been duly authorized and validly issued
and are fully paid and non-assessable and (ii) are free of preemptive rights,
co-sale rights, rights of first refusal and similar rights under Delaware
General Corporation Law (the "DGCL") or the charter or bylaws or other
organizational documents of the Company or any contract, commitment or
instrument filed as an exhibit to the Exchange Act Reports.

               3.4 VALID ISSUANCE. The Shares, when issued and paid for in
compliance with the provisions of this Agreement, will be validly issued, fully
paid and nonassessable free and clear of all encumbrances and restrictions,
except for restrictions on transfer as set forth herein or imposed by applicable
securities laws.

               3.5 SEC DOCUMENTS; FINANCIAL STATEMENTS. The Company has filed in
a timely manner all documents that the Company was required to file with the
United States Securities and Exchange Commission (the "SEC") under Sections 13,
14(a) and 15(d) of the Securities Exchange Act of 1934, as amended (the
"EXCHANGE ACT"), during the twelve (12) months preceding the Effective Date. As
of their respective filing dates (or, if amended, when amended), all documents
filed by the Company with the SEC (the "SEC DOCUMENTS") complied in all material
respects with the requirements of the Exchange Act. None of the SEC Documents as
of their respective dates contained any untrue statement of material fact or
omitted to state a material fact required (under the federal securities laws) to
be stated therein or necessary to make the statements made therein, in light of
the circumstances under which they were made, not misleading. The financial
statements of the Company included in the SEC Documents (the "FINANCIAL
STATEMENTS") comply as to form and substance in all material respects with
applicable accounting requirements and with the published rules and regulations
of the SEC with respect thereto. The Financial Statements were prepared in
accordance with generally accepted accounting principles consistently applied
and fairly present the financial position of the Company at the dates thereof
and the results of its operations and cash flows for the periods then ended
(subject, in the case of unaudited statements, to normal, recurring
adjustments).

               3.6 LITIGATION. There is no pending or, to the Company's
knowledge, threatened, action, suit or other proceeding to which the Company is
a party or to which its property or assets are subject that is not disclosed in
the SEC Documents that is required to be so disclosed.

               3.7 GOVERNMENTAL CONSENTS. No consent, approval, order or
authorization of, or registration, qualification, designation, declaration or
filing with, any federal, state, or local governmental authority on the part of
the Company is required in connection with the consummation of the transactions
contemplated by this Agreement except for compliance with the securities and
blue sky laws in the states and other jurisdictions in which Shares are offered
and/or sold, which compliance will be effected in accordance with such laws

                                       3
<PAGE>
               3.8 OFFERING VALID. Assuming the accuracy of the representations
and warranties of the Purchaser contained in Section 4.1 hereof, the offer and
issuance of the Shares will be exempted from the registration requirements of
the Securities Act of 1933, as amended (the "SECURITIES ACT"), and will have
been registered or qualified (or are exempted from registration and
qualification) under the registration, permit or qualification requirements of
all applicable state securities laws. Neither the Company nor any agent on its
behalf has solicited or will solicit any offers to sell or has offered to sell
or will offer to sell all or any part of the Shares to any person or persons so
as to bring the sale of such Shares by the Company within the registration
provisions of the Securities Act or any state securities laws.

      4. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PURCHASER.

               4.1 The Purchaser hereby represents and warrants as of the date
hereof to, and covenants to, the Company that:

                  (A) The Purchaser is knowledgeable, sophisticated and
experienced in making, and is qualified to make, decisions with respect to
investments in securities presenting an investment decision like that involved
in the purchase of the Shares, including investments in securities issued by the
Company, and has requested, received, reviewed and considered, either alone or
with the Purchaser's representative, all information the Purchaser deems
relevant (including the SEC Documents) in making an informed decision to
purchase the Shares.

                  (B) The Purchaser is acquiring the Shares being acquired by
the Purchaser pursuant to this Agreement for its own account for investment only
and with no present intention of distributing any of such Shares or any
arrangement or understanding with any other persons regarding the distribution
of such Shares, except in compliance with Section 4.1(c).

                  (C) The Purchaser will not, directly or indirectly, offer,
sell, pledge, transfer or otherwise dispose of (or solicit any offers to buy,
purchase or otherwise acquire or take a pledge of) any of the Shares purchased
hereunder except in compliance with the Securities Act, applicable blue sky
laws, and the rules and regulations promulgated thereunder.

                  (D) It is understood by the Purchaser that, except as provided
herein, certificates evidencing the Shares may bear the following or any similar
legend: "The securities represented hereby may not be transferred unless (i)
such securities have been registered for sale pursuant to the Securities Act of
1933, as amended, (ii) such securities may be sold pursuant to Rule 144(k), or
(iii) the Company has received an opinion of counsel satisfactory to it that
such transfer may lawfully be made without registration under the Securities Act
of 1933 or qualification under applicable state securities laws." If required by
the authorities of any state in connection with the issuance of sale of the
Shares, any legend required by an applicable state authority shall be included.

                  (E) The Purchaser is an "accredited investor" within the
meaning of Rule 501 of Regulation D promulgated under the Securities Act or a
Qualified Institutional Buyer within the meaning of Rule 144A promulgated under
the Securities Act.

                                       4
<PAGE>
                  (F) The Purchaser has full right, power, authority and
capacity to enter into this Agreement and to consummate the transactions
contemplated hereby and has taken all necessary action to authorize the
execution, delivery and performance of this Agreement. Upon the execution and
delivery of this Agreement by the Purchaser, this Agreement shall constitute a
valid and binding obligation of the Purchaser, enforceable in accordance with
its terms, except (i) as limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws relating to or affecting the
enforcement of creditors' rights generally, (ii) as limited by equitable
principles generally, including any specific performance, and (iii) to the
extent that the enforceability of the indemnification provisions of Section 5.4
may be limited by applicable laws.

               4.2 The Purchaser understands that nothing in the SEC Documents,
this Agreement or any other materials presented to the Purchaser in connection
with the purchase and sale of the Shares constitutes legal, tax or investment
advice and that independent legal counsel has reviewed these documents and
materials on the Purchaser's behalf. The Purchaser has consulted such legal, tax
and investment advisors as it, in its sole discretion, has deemed necessary or
appropriate in connection with its purchase of the Shares.

               4.3 The Purchaser represents and warrants that the Products are
in the same condition as they existed upon receipt from the Company under the
Distribution Agreement, that the Purchaser possesses good and valid title to the
Products (other than to software included therein, which was licensed and not
sold to the Purchaser), and that the Products are free and clear of all liens
and encumbrances.

      5. SURVIVAL OF REPRESENTATIONS, WARRANTIES AND AGREEMENTS, DISCLAIMER,
INDEMNIFICATION.

               5.1 SURVIVAL. Notwithstanding any investigation made by any party
to this Agreement, all covenants, agreements, representations and warranties
made by the Company and the Purchaser herein and in the certificates for the
Shares delivered pursuant hereto shall survive the execution of this Agreement,
the delivery to the Purchaser of the Shares being purchased and the payment
therefore.

               5.2 DISCLAIMER. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT,
NEITHER PARTY MAKES ANY REPRESENTATION OR WARRANTY TO THE OTHER PARTY OF ANY
NATURE, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF
NONINFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

               5.3 INDEMNIFICATION BY THE COMPANY. The Company agrees to
indemnify, defend and hold harmless the Purchaser and its officers, directors,
agents, employees, stockholders, legal representatives, successors and assigns
(the "PURCHASER INDEMNITEES"), and each of them, from and against any and all
liabilities, judgments, losses, damages, costs, charges, reasonable attorneys'
fees, and other expenses of every nature and character (collectively,
"LIABILITIES"), incurred by any Purchaser Indemnitee to the extent such
Liabilities arise out of or result from any material breach of the Company's
representations, warranties or covenants contained in this Agreement.

                                       5
<PAGE>
               5.4 INDEMNIFICATION BY THE PURCHASER. The Purchaser agrees to
indemnify, defend and hold harmless the Company and its officers, directors,
agents, employees, stockholders, legal representatives, successors and assigns
(the "COMPANY INDEMNITEES"), and each of them, from any and all Liabilities
incurred by any Company Indemnitee to the extent such Liabilities arise out of
or result from any material breach of the Purchaser's representations,
warranties or covenants in this Agreement.

               5.5 LIMITATION OF LIABILITY. NEITHER PARTY SHALL BE ENTITLED TO
RECOVER FROM THE OTHER PARTY ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR
EXEMPLARY DAMAGES OR ATTORNEYS' FEES IN CONNECTION WITH THIS AGREEMENT.

      6. CONDITIONS TO COMPANY'S OBLIGATIONS AT CLOSING.

               6.1 CLOSING. The Company's obligation to sell, issue and deliver
the Shares to the Purchaser at the Closing shall be subject to the following
conditions to the extent not waived by the Company:

                  (A) RECEIPT OF PAYMENT. The Company shall have received notice
from Mr. Takayuki Kanda or the then-current representative of FVC Japan that the
Products are in the Facility as required pursuant to Section 2.2(b).

                  (B) REPRESENTATIONS, WARRANTIES AND COVENANTS. The
representations and warranties made by the Purchaser in Section 4 hereof shall
be true and correct in all material respects on the Closing Date. The Purchaser
shall have performed and complied with all obligations and conditions required
to be performed and complied with by the Purchaser under this Agreement on or
prior to the Closing Date.

      7. CONDITIONS TO THE PURCHASERS' OBLIGATIONS AT CLOSING.

               7.1 CLOSING. The Purchaser's obligation to accept delivery of and
pay for the Shares at the Closing shall be subject to the following conditions
to the extent not waived by such Purchaser:

                  (A) ISSUANCE OF STOCK. The Purchaser shall have received
evidence of the issuance of a certificate representing the Shares in the name of
the Purchaser.

                  (B) REPRESENTATIONS, WARRANTIES AND COVENANTS. The
representations and warranties made by the Company in Section 3 hereof shall be
true and correct in all material respects on the Closing Date. The Company shall
have performed and complied with all obligations and conditions to be performed
and complied with by the Company under this Agreement on or prior to the Closing
Date.

      8. ADDITIONAL COVENANTS.

               8.1 MARKET STAND-OFF AGREEMENT. If requested by the
representative of the underwriters of Common Stock (or other securities) of the
Company, the Purchaser shall not sell or otherwise transfer or dispose of any
Common Stock (or other securities) of the Company held

                                       6
<PAGE>
by the Purchaser for a period specified by the representative of the
underwriters, in any case not to exceed ninety (90) days following any
registered offering of the Common Stock of the Company. The Company may impose
stop-transfer instructions with respect to the shares of Common Stock (or other
securities) subject to the foregoing restriction until the end of said period.

               8.2 REGISTRATION OF SHARES. The Company's proposed current equity
financing (the "FINANCING") is contemplated to close on or no later than the
fiscal quarter ending on December 31, 2003. Pursuant to the Financing, the
Company plans to register the shares of Company Common Stock issued therein on a
registration statement on Form S-3 (or such other form as is then available to
the Company to effect a registration for resale of Company Common Stock). At the
request of the Purchaser, the Company agrees to register the Shares on the
registration statement filed in connection with the Financing, subject to the
same terms and conditions as the investors in the Financing.

      9. LEGEND REMOVAL. The Company shall be obligated to reissue promptly
unlegended certificates at the request of the Purchaser if the Purchaser shall
have obtained an opinion of counsel (which counsel may be counsel to the
Company) reasonably acceptable to the Company to the effect that the securities
proposed to be disposed of may lawfully be so disposed of (with no need for
compliance with Rule 144) without registration, qualification or legend.

      10. BROKER'S FEE. The Company and the Purchaser hereby represent that,
there are no brokers or finders entitled to compensation in connection with the
sale of the Shares, and shall indemnify each other for any such fees for which
they are responsible.

      11. NOTICES. All notices, requests, consents and other communications
hereunder shall be in writing, shall be sent by confirmed facsimile or sent by
internationally recognized overnight express courier, postage prepaid, and shall
be deemed given when so sent in the case of facsimile transmission (subject to
confirmation of delivery), or when so received in the case of courier, and
addressed as follows:

                  (A)   if to the Company, to:

                        Chief Financial Officer
                        First Virtual Communications, Inc.
                        3200 Bridge Parkway, Suite 202
                        Redwood City, CA  94065

                        Fax No.:  1-650-801-6910

or to such other person at such other place as the Company shall designate to
the Purchaser in writing; and

                  (B)   if to the Purchaser, to:

                        Norihisa Katayama,  General Manager of CEO Office
                        Net One Systems
                        Sphere Tower Tennoz, 2-8

                                       7
<PAGE>
                        Higashi, Shinagawa 2-Chome
                        Shinagawa-Ku, Tokyo 140-8621
                        Japan

                        Fax No.:     81-3-5462-0890

or to such other person at such other place as the Purchaser shall designate to
the Company in writing.

      12. MISCELLANEOUS.

               12.1 WAIVERS AND AMENDMENTS. Neither this Agreement nor any
provision hereof may be changed, waived, discharged, terminated, modified or
amended except upon the written consent of the Company and the Purchaser.

               12.2 HEADINGS. The headings of the various sections of this
Agreement have been inserted for convenience of reference only and shall not be
deemed to be part of this Agreement.

               12.3 SEVERABILITY. In case any provision contained in this
Agreement should be invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained
herein shall not in any way be affected or impaired thereby.

               12.4 COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument, and shall become effective
when one or more counterparts have been signed by each party hereto and
delivered to the other parties.

               12.5 SUCCESSORS AND ASSIGNS. Except as otherwise expressly
provided herein, the provisions hereof shall inure to the benefit of, and be
binding upon, the successors, assigns, heirs, executors and administrators of
the parties hereto.

               12.6 ENTIRE AGREEMENT. This Agreement and the Second Amendment to
Partner Agreement dated as of the date hereof between the Company and Purchaser
constitute the entire understanding of the parties with respect to the subject
matter hereof and thereof and supercede all related prior or contemporaneous
oral communications, agreements or discussions with respect to the subject
matter hereof or thereof. Each such agreement must be read, interpreted, and
applied with the others and together they constitute one business transaction.

               12.7 PAYMENT OF FEES AND EXPENSES. Each of the Company and the
Purchaser shall bear its own expenses and legal fees incurred on its behalf with
respect to this Agreement and the transactions contemplated hereby. If any
action at law or in equity is necessary to enforce or interpret the terms of
this Agreement, the prevailing party shall be entitled to reasonable attorney's
fees, costs and necessary disbursements in addition to any other relief to which
such party may be entitled.

                                       8
<PAGE>
               12.8 FRACTIONAL SHARES. No fractional shares shall be issued in
connection with the purchases of Shares hereunder, provided that the Company
shall pay in cash the amount equivalent to such fractional shares multiplied by
the Purchase Price.

      IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their duly authorized representatives as of the day and year first
above written.

                              FIRST VIRTUAL COMMUNICATIONS, INC.

                              By:     /s/ Truman Cole
                                      ------------------------------------------

                              Name:   Truman Cole
                                      ------------------------------------------

                              Title:  Vice President and Chief Financial Officer
                                      ------------------------------------------

                              NET ONE SYSTEMS CO., LTD.

                              By:     /s/ Kazuo Sato
                                      ------------------------------------------

                              Name:   Kazuo  Sato
                                      ------------------------------------------

                              Title:  President & CEO
                                      ------------------------------------------

                                       9
<PAGE>
                                    EXHIBIT A

                                    PRODUCTS

<TABLE>
<CAPTION>
                      Type                        S/W Version            Price          Qty           Amount
                      ----                        -----------            -----          ---           ------
<S>    <C>                                  <C>                         <C>            <C>        <C>
1      FV-92201-00/Continuous Presence      Conference Server 6.0       $  3,000           4      $     12,000
2      FV-92256-00/MCU 10 User SW Only      Conference Server 6.0       $  5,950          20      $     119,000
3      FV-92256-05/MCU 25 User SW Only      Conference Server 6.0       $ 13,450          23      $     309,350
4      FV-92256-10/MCU 50 User SW Only      Conference Server 6.0       $ 23,950           3      $     71,850
5      FV-92257-05/MCU 25 User HW Bundle    Conference Server 6.0       $ 15,950           8      $     127,600
6      FV-922350-05/CTM3.0 Standard plus    CTMP3.0                     $ 19,950          13      $     259,350
       HW Bundle
7      FV-92350-00/CTM3.0 Entry plus HW     CTMP3.0                     $ 14,950          12      $     179,400
       bundle
8      FV-92410-05/CTMX 25 User SW Only     CTMX1.03                    $ 19,700          14      $     275,800
9      FV-92410-10/CTMX 50 User SW Only     CTMX1.03                    $ 36,450           4      $     145,800
A      Sub Total                                                                                  $   1,500,150
B      Processing Fee (A*5%)                                                                      $    75,007.5
C      Total (A+B)                                                                                $ 1,575,157.5
</TABLE>

                                       10

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