Document:

exv10w92

 

EXHIBIT 10.92

COMMON STOCK AND WARRANT PURCHASE AGREEMENT

Between

SEDONA Corporation

and

Milton B. Young

          COMMON STOCK AND WARRANT PURCHASE AGREEMENT dated as of February 23, 2007 (the “Agreement”),
between Milton B. Young (the “Investor”), and Sedona Corporation, a corporation organized and
existing under the laws of the Commonwealth of Pennsylvania (the “Company”).

          WHEREAS, the Investor desires to invest and the Company desires to issue and sell to the
Investor certain shares of Common Stock of the Company and a Warrant to purchase Shares of Common
Stock of the Company upon the terms and subject to the conditions contained herein;

          NOW, THEREFORE, the parties hereto agree as follows:

ARTICLE I

Certain Definitions

Section 1.1. “Closing” shall mean the closing of the purchase and sale of the Common
Stock and Warrant pursuant to Section 2.1.

Section 1.2. “Common Stock” shall mean the Company’s common stock, $.001 par value per
share, issued pursuant to the terms and conditions hereof.

Section 1.3. “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended,
and the rules and regulations promulgated thereunder.

Section 1.4. “Permitted Transferee” shall mean any of the following to whom the
Investor may transfer the Common Stock or Warrant hereunder provided that such individual or
entity agrees to abide by the terms set forth herein: the Investor’s spouse, parents, children
(natural or adopted), stepchildren or grandchildren or a trust for their sole benefit of which
the Investor is the settlor; provided, however, that any such trust does not require or permit

 

 

distribution of any Common Stock or Warrant during the term of this Agreement unless subject to
its terms, or to individuals who are accredited investors within the meaning of Rule 501 of
Regulation D under the 1933 Act.

Section 1.5. “Person” shall mean an individual, a corporation, a partnership, a limited
liability company, an association, a trust or other entity or organization, including a
government or political subdivision or an agency or instrumentality thereof.

Section 1.6. “Principal Market” shall mean the American Stock Exchange, the New York
Stock Exchange, the NASDAQ National Market, the NASDAQ SmallCap Market or the OTC Bulletin
Board, whichever is at the time the principal trading exchange or market for the Common Stock,
based upon share volume.

Section 1.7. “Purchase Price” shall equal the total number of shares of Common Stock
set forth on Schedule 1 hereto multiplied by $0.19.

Section 1.8. “Registrable Securities” shall mean the Common Stock and the Warrant
Shares until (i) the Registration Statement has been declared effective by the SEC, and all
Common Stock and Warrant Shares have been disposed of pursuant to the Registration Statement,
(ii) all Common Stock and Warrant Shares have been sold under circumstances under which all of
the applicable conditions of Rule 144 (or any similar provision then in force) under the
Securities Act (“Rule 144”) are met, (iii) all Common Stock and Warrant Shares have been
otherwise transferred to holders who may trade such shares without restriction under the
Securities Act, and the Company has delivered a new certificate or other evidence of ownership
for such securities not bearing a restrictive legend or (iv) such time as, in the opinion of
counsel to the Company, all Common Stock and Warrant Shares may be sold without any time, volume
or manner limitations pursuant to Rule 144(k) (or any similar provision then in effect) under
the Securities Act.

Section 1.9. “Registration Rights Agreement” shall mean the agreement regarding the
filing of the Registration Statement for the resale of the Registrable Securities, entered into
between the Company and the Investor as of the Closing Date in the form annexed hereto as
Exhibit A.

Section 1.10. “Registration Statement” shall mean a registration statement on such
form promulgated by the SEC for which the Company then qualifies and which counsel for the
Company shall deem appropriate, and which form shall be available for the resale by the Investor
of the Registrable Securities to be registered thereunder.

Section 1.11. “SEC” shall mean the Securities and Exchange Commission.

Section 1.12. “SEC Documents” shall mean the Company’s Annual Report on Form 10-KSB for
the fiscal year ended December 31, 2005 and each report, proxy statement or registration
statement filed by the Company with the SEC pursuant to the Exchange Act or the Securities Act
since the filing of such Annual Report through the date hereof.

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Section 1.13. “Trading Day” shall mean any day during which the Principal Market shall
be open for business.

Section 1.14. “Transfer” shall mean any sale, assignment, encumbrance, hypothecation,
pledge, conveyance in trust, gift, transfer by request, devise or descent, or other transfer or
disposition of any kind.

Section 1.15. “Warrant” shall mean the Warrant substantially in the form of Exhibit
B to be issued to the Investor hereunder.

Section 1.16. “Warrant Shares” shall mean all shares of Common Stock or other
securities issued or issuable pursuant to exercise of the Warrant.

ARTICLE II

Purchase and Sale of Common Stock and Warrant

Section 2.1. Investment.

          (a) Upon the terms and subject to the conditions set forth herein, the Company agrees to sell,
and the Investor agrees to purchase the Common Stock together with the Warrant at the Purchase
Price on the Closing Date (as hereinafter defined), as set forth on Schedule 1.

          (b) The Closing of the sale and purchase of the Common Stock together with the Warrant under
this Agreement shall take place at the offices of SEDONA Corporation, 1003 W. Ninth Avenue, Second
Floor, King of Prussia, PA 19406 on                     , 2007 or such other time, date and place as are
mutually agreeable to the Company and the Investor. At the Closing, the Company will deliver to
the Investor certificates for the Common Stock, registered in the name of the appropriate Investor,
and Warrant against payment to the Company of each Investor’s proportionate amount of the Purchase
Price as set forth on the signature pages hereto, by wire transfer, check or other method
acceptable to the Company. The date of the Closing is hereinafter referred to as the “Closing
Date.”

          (c) The Closing is subject to the satisfaction or waiver by the party to be benefited thereby
of the following conditions:

	 	(i)	 	acceptance and execution by the Company and by the Investor of
this Agreement and the Registration Rights Agreement;
	 
	 	(ii)	 	all representations and warranties of the Investor contained
herein shall remain true and correct as of the Closing Date (as a condition to
the Company’s obligations);
	 
	 	(iii)	 	the Company shall have obtained all permits and
qualifications, if any, required by any state for the offer and sale of the
Common Stock and Warrant, or shall have the availability of exemptions
therefrom;

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	 	(iv)	 	the sale and issuance of the Common Stock and the Warrant
hereunder, and the proposed issuance by the Company to the Investor of the
Common Stock underlying the Warrant upon exercise thereof shall be legally
permitted by all laws and regulations to which the Investor and the Company are
subject and there shall be no ruling, judgment or writ of any court prohibiting
the transactions contemplated by this Agreement;

ARTICLE III

Representations and Warranties of the Investor

          The Investor represents and warrants to the Company that:

Section 2.2. Intent. The Investor is entering into this Agreement for its own account
and not with a view to or for sale in connection with any distribution of the Common Stock. The
Investor has no present arrangement (whether or not legally binding) at any time to sell the
Common Stock, Warrant or Warrant Shares to or through any Person or entity; provided, however,
that by making the representations herein, the Investor does not agree to hold such securities
for any minimum or other specific term (other than as specified herein) and reserves the right
to dispose of the Common Stock and Warrant Shares at any time in accordance with federal and
state securities laws applicable to such disposition and such Section 4.3.

Section 2.3. Sophisticated Investor. The Investor is a sophisticated investor (as
described in Rule 506(b)(2)(ii) of Regulation D), and the Investor has such experience in
business and financial matters that it has the capacity to protect its own interests in
connection with this transaction and is capable of evaluating the merits and risks of an
investment in the Common Stock, Warrant and Warrant Shares. The Investor acknowledges that an
investment in the Common Stock, Warrant and Warrant Shares is speculative and involves a high
degree of risk. The Investor has adequate means of providing for Investor’s current needs and
personal contingencies and has no need for the liquidity in Investor’s investment in the Common
Stock, Warrant and the Warrant Shares and is capable of bearing the economic risks attendant to
an investment in the Common Stock, Warrant and the Warrant Shares including the total loss
thereof.

Section 2.4. Authority. This Agreement and the Registration Rights Agreement has been
duly authorized and validly executed and delivered by the Investor and is a valid and binding
agreement of the Investor enforceable against it in accordance with its terms, subject to
applicable bankruptcy, insolvency, or similar laws relating to, or affecting generally the
enforcement of, creditors’ rights and remedies or by other equitable principles of general
application.

Section 2.5. Not an Affiliate. The Investor is not an officer, director or “affiliate”
(as that term is defined in Rule 405 of the Securities Act) of the Company.

Section 2.6. Disclosure; Access to Information. The Investor and Investor’s
professional advisers have been furnished satisfactory responses to their inquiries and all
materials which

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they have requested relating to the Company and its past and proposed activities. They have
been afforded the opportunity to ask questions of, and to receive answers from the Company and
to obtain additional information which the Company possesses or can acquire without unreasonable
effort or expense that is necessary to verify the accuracy of the information provided to the
Investor.

Section 2.7. Manner of Sale. At no time was the Investor presented with or solicited by
or through any leaflet, public promotional meeting, television advertisement or any other form
of general solicitation or advertising.

Section 2.8. Independent Advice. The Investor acknowledges that the Investor has been
advised to consult with Investor’s own attorney, accountant, investment advisor, or other
professional advisors concerning the investment in the Common Stock and Warrant of the Company
including, without limitation, tax matters relating to the purchase, sale and ownership of the
Common Stock and Warrant.

Section 2.9. Illiquidity. The Investor understands, acknowledges and agrees that due to
restrictions described in this Agreement and the lack of any market existing or likely to exist
for the Common Stock, the Warrant and the Warrant Shares, the Investor’s investment in the
Common Stock, Warrant and Warrant Shares will be highly illiquid.

Section 2.10. Limitation of Transfer. The Common Stock, the Warrant and the Warrant
Shares have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), or registered or qualified under any applicable state securities laws and regulations.
Therefore, the Common Stock, the Warrant and the Warrant Shares will be restricted and cannot be
offered, sold, transferred, pledged or hypothecated to any person, other than a Permitted
Transferee, unless they are subsequently registered under the Securities Act and registered or
qualified under applicable state securities laws or an exemption from such registration and
qualification is available and the favorable opinion of counsel acceptable to the Company to
that effect is obtained by the Investor. Furthermore, no Transfer shall be effected by the
Company unless such transfer exceeds one hundred fifty (150,000) thousand shares.

Section 2.11. Accredited Investor Status. The Investor is an “accredited investor”, as
defined in Rule 501(a) of Regulation D under the Securities Act by virtue of one or more of the
following (specify by checking appropriate line or lines):

	 	(a)	 	A natural person whose individual net worth, or joint net worth
with his/her spouse, presently exceeds $1,000,000.

Yes                      No            

	 	(b)	 	A natural person whose individual income in each of the last
two most recent years was in excess of $200,000, and he/she reasonably expects
to reach the same income level in the current year.

Yes                      No            

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	 	(c)	 	A natural person whose joint income with Investor’s spouse in
each of the two most recent years was in excess of $300,000 and he/she
reasonably expects to reach the same income level in the current year.

Yes                      No            
	 
	 	(d)	 	An organization, described in Section 501(c) (3) of the
Internal Revenue Code, corporation, Massachusetts or similar business trust, or
partnership, nor formed for the specific purpose of acquiring the Units
offered, with total assets in excess of $5,000,000.

Yes                      No            
	 
	 	(e)	 	A director or executive officer of the Company.

Yes                      No            
	 
	 	(f)	 	A trust, with total assets in excess of $5,000,000, not formed
for the specific purpose of acquiring the Common Stock Warrant and Warrant
Shares, whose purchase is directed by an individual with such knowledge and
experience in financial and business matters that he/she is capable of
evaluating the merit and risks of an investment in the Company.

Yes                      No            
	 
	 	(g)	 	A bank or savings and loan association, as defined in the
Securities Act, whether acting in its individual or fiduciary capacity.

Yes                      No            
	 
	 	(h)	 	A broker or dealer registered pursuant to the Securities
Exchange Act of 1934, as amended.

Yes                      No            
	 
	 	(i)	 	An insurance company, as defined in the Securities Act.

Yes                      No            
	 
	 	(j)	 	An investment company registered under the Investment Company
Act of 1940, as amended.

Yes                      No            
	 
	 	(k)	 	A business development company, as defined in the Investment
Company Act of 1940, as amended.

Yes                      No            
	 
	 	(l)	 	A Small Business Investment Company licensed by the U.S. Small
Business Administration.

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Yes                      No            
	 
	 	(m)	 	A plan established and maintained by the state, its political
subdivisions, or an agency or instrumentality of a state or its political
subdivisions for the benefit of its employees, if such plan has total assets in
excess of $5,000,000.

Yes                      No            
	 
	 	(n)	 	An employee benefit plan within the meaning of Title I of the
Employment Retirement Income Security Act of 1974 (ERISA), as amended, if the
investment decision with respect to this investment is made by a plan
fiduciary, as defined in ERISA, which is either a bank, insurance company, or
registered investment advisor, or if the employee benefit plan has
total assets in excess of $5,000,000.

Yes                      No            
	 
	 	(o)	 	A private business development company, as defined in the
Investment Advisors Act of 1940, as amended.

Yes                      No            
	 
	 	(p)	 	An entity in which all of the equity owners are “accredited
investors” as set forth above.

Yes                      No            

ARTICLE III

Covenants of the Investor

          The Investor covenants with the Company that:

Section 3.1. Compliance with Law. The Investor’s trading activities with respect to shares of the Company’s Common Stock will be in compliance with all applicable state and federal
securities laws, rules and regulations and rules and regulations of the Principal Market on
which the Company’s Common Stock is listed.

Section 3.2. Limitation on Short Sales. The Investor agrees that it will make no short
sales (as defined in any applicable SEC or NASD rules) of the Company’s Common Stock while the
Investor holds any of the Common Stock issued hereunder.

Section 3.3. Restrictions on Transfer of Common Stock. The Investor agrees not to
Transfer the Common Stock, other than to a Permitted Transferee pursuant to the terms set forth
herein, until the completion of filing and effectiveness of the Registration Statement and, once
the Registration Statement is effective, according to the following schedule:

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               (a) 789,473 shares of Common Stock shall be restricted from Transfer until the earlier of the
following: (1) the average closing price of the Company’s Common Stock on the Principal Market for
a period of 5 Trading Days exceeds $0.60 per share; or (2) August 23, 2007.

               (b) 789,474 shares of Common Stock shall be restricted from Transfer until the earlier of the
following: (1) the average closing price of the Company’s Common Stock on the Principal Market for
a period of 5 Trading Days exceeds $1.00 per share; or (2) February 23, 2008.

Notwithstanding the foregoing, the Investor agrees that no Transfer shall be effected by the
Company unless such Transfer exceeds one hundred fifty (150,000) thousand shares of Common
Stock.

Section 3.4. Restrictions on Transfer of Warrant Shares. The Investor agrees not to
Transfer the Warrant Shares, other than to a Permitted Transferee pursuant to the terms set
forth herein, until the later of (i) completion of filing and effectiveness of the Registration
Statement and (ii) August 23, 2007. Notwithstanding the foregoing, the Investor agrees that no
Transfer shall be effected by the Company unless such Transfer exceeds one hundred fifty
(150,000) thousand Warrant Shares.

Section 3.5. Duty to Correct Information. All of information which is set forth below
in this Agreement with respect to the Investor is correct and complete as of the date hereof
and if there should be any material change in such information, the Investor will immediately
furnish the revised or corrected information in writing to the Company. The Investor
understands that the Company has relied on the representations, warranties and covenants set
forth herein in determining that the investment is exempt from the registration requirements of
the Securities Act.

ARTICLE IV

Covenants of the Company

Section 4.1. Reservation of Common Stock. As of the date hereof, the Company has
reserved and the Company shall continue to reserve and keep available at all times, free of
preemptive rights, shares of Common Stock for the purpose of enabling the Company to issue the
Warrant Shares pursuant to the exercise of the Warrant. The number of shares so reserved from
time to time, as theretofore increased or reduced as hereinafter provided, may be reduced by the
number of shares actually issued pursuant to any exercise of the Warrant and the number of shares so reserved shall be increased or decreased to reflect potential increases or decreases
in the Common Stock that the Company may thereafter be obligated to issue by reason of
adjustments to the Warrant pursuant to Section 10 thereof.

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ARTICLE V

Non-Disclosure of Non-Public Information.

Section 5.1. Non-Disclosure of Non-Public Information. Nothing herein shall require the
Company to disclose material non-public information to the Investor, advisors to or
representatives of the Investor or any underwriter. Other than disclosure of any comment
letters received from the SEC staff with respect to the Registration Statement, the Company may,
as a condition to disclosing any non-public information hereunder, require the Investor’s
advisors and representatives to enter into a confidentiality agreement in form and content
reasonably satisfactory to the Company and the Investor.

ARTICLE VI

Legends

     Section 6.1. Legends. (a) Unless otherwise provided below, each certificate representing
the Common Stock will bear the following legends or equivalent (the “Legend”):

THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR REGISTERED OR QUALIFIED UNDER STATE SECURITIES
LAWS AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND SUCH LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY
BE OFFERED, SOLD OR TRANSFERRED UNTIL (i) A REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND
SUCH APPLICABLE STATE SECURITIES SHALL HAVE BECOME EFFECTIVE WITH REGARD THERETO, OR (ii) IN THE
OPINION OF COUNSEL, ACCEPTABLE TO THE COMPANY, REGISTRATION OR QUALIFICATION UNDER THE SECURITIES
ACT OR SUCH APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED IN CONNECTION WITH SUCH PROPOSED
OFFER, SALE OR TRANSFER.

THE SECURITIES EVIDENCED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS AS SET FORTH IN A
COMMON STOCK AND WARRANT AGREEMENT BETWEEN THE COMPANY AND THE SHAREHOLDER DATED AS FEBRUARY 23,
2007, A COPY OF WHICH IS AVAILABLE UPON THE REQUEST OF THE REGISTERED HOLDER HEREOF TO THE
SECRETARY OF THE COMPANY.

(B) The Warrant and the Warrant Shares shall also bear certain legends as set forth in more detail
in the Warrant.

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ARTICLE VII

Choice of Law

Section 7.1. Governing Law; Consent to Jurisdiction. This Agreement shall be governed
by and construed in accordance with the laws of the Commonwealth of Pennsylvania without regard
to the choice of law or conflicts of law provisions thereof. Each of the parties hereto hereby
irrevocably and unconditionally consents to submit to the non-exclusive jurisdiction of the
courts of the Commonwealth of Pennsylvania and of the United States of America, located in the
Commonwealth of Pennsylvania, for any action, proceeding or investigation in any court or before
any governmental authority (“Litigation”) arising out of or relating to this Agreement and the
transactions contemplated hereby, and further agrees that service of any process, summons,
notice or document by U.S. registered mail to its respective address set forth in this Agreement
shall be effective service of process for any Litigation brought against it in any such court.
Each of the parties hereto hereby irrevocably and unconditionally waives any objection to the
laying of venue of any Litigation arising out of this Agreement or the transaction contemplated
hereby in the courts of the Commonwealth of Pennsylvania or the United States of America,
located in the Commonwealth of Pennsylvania, and hereby further irrevocably and unconditionally
waives and agrees not to plead or claim in any such court that any such Litigation brought in
any such court has been brought in an inconvenient forum.

ARTICLE VIII

Assignment

Section 8.1. Assignment. The rights of the Investor hereunder may not be assigned
without the express written consent of the Company. Notwithstanding the foregoing, the
provisions of this Agreement shall inure to the benefit of, and be enforceable by, any Permitted
Transferee of any of the Common Stock or Warrant purchased or acquired by any Investor hereunder
with respect to the Common Stock or Warrant held by such Person; provided however that such no
assignment shall be in an amount less than One Hundred Fifty (150,000) shares of Common Stock.

ARTICLE IX

Notices

Section 9.1. Notices. All notices, demands, requests, consents, approvals, and other
communications required or permitted hereunder shall be in writing and, unless otherwise
specified herein, shall be (i) hand delivered, (ii) deposited in the mail, registered or
certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier
service with charges prepaid, or (iv) transmitted by facsimile, addressed as set forth below or
to such other address as such party shall have specified most recently by written notice. Any
notice or other communication required or permitted to be given hereunder shall be deemed
effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated
by the transmitting facsimile machine, at the address or number designated below

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(if delivered on a business day during normal business hours where such notice is to be
received), or the first business day following such delivery (if delivered other than on a
business day during normal business hours where such notice is to be received) or (b) on the
first business day following the date of sending by reputable courier service, fully prepaid,
addressed to such address, or (c) upon actual receipt of such mailing, if mailed. The addresses
for such communications shall be:

	 	 	 
	If to the Company:

	 	Sedona Corporation
	 

	 	1003 W. Ninth Avenue
	 

	 	Second Floor
	 

	 	King of Prussia, PA 19406
	 

	 	Attention: Chief Financial Officer
	 

	 	Facsimile: 610-337-8490
	 
	 	 
	with a copy to

	 	White & Williams LLP
	 

	 	Attention: Carl Koerner, Esq.
	 

	 	One Penn Plaza
	 

	 	18th Floor, Suite 1801
	 

	 	New York, NY 10119
	 

	 	Telephone: 212-244-9500
	 

	 	Facsimile: 212-868-4844
	 
	 	 
	if to the Investor:

	 	As set forth on the signature pages hereto.

Either party hereto may from time to time change its address or facsimile number for notices under
this Section 10.1 by giving written notice of such changed address or facsimile number to the other
party hereto as provided in this Section 10.1.

ARTICLE X

Miscellaneous

Section 10.1. Counterparts/Facsimile/. This Agreement may be executed in multiple
counterparts, each of which may be executed by less than all of the parties and shall be deemed
to be an original instrument which shall be enforceable against the parties actually executing
such counterparts and all of which together shall constitute one and the same instrument.
Except as otherwise stated herein, in lieu of the original documents, a facsimile transmission
or copy of the original documents shall be as effective and enforceable as the original. This
Agreement may be amended only by a writing executed by all parties.

Section 10.2. Amendments. This Agreement may be modified by the Company from time to
time to cure any ambiguity or correct or supplement any provision contained herein which may be
defective or inconsistent with any other provision herein, or to make any other provisions in
regard to matters or questions arising hereunder which the Company may deem necessary or
desirable and which shall not materially adversely affect the interest of the Investor and, in
addition, the Company may modify, supplement, or alter this Agreement at any time with the
written consent of the Investor.

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Section 10.3. Entire Agreement. This Agreement, the agreements attached as Exhibits
hereto, which include the Warrant and the Registration Rights Agreement, set forth the entire
agreement and understanding of the parties relating to the subject matter hereof and supersedes
all prior and contemporaneous agreements, negotiations and understandings between the parties,
both oral and written relating to the subject matter hereof. The terms and conditions of all
Exhibits to this Agreement are incorporated herein by this reference and shall constitute part
of this Agreement as is fully set forth herein.

Section 10.4. Severability. In the event that any provision of this Agreement becomes
or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this
Agreement shall continue in full force and effect without said provision; provided that such
severability shall be ineffective if it materially changes the economic benefit of this
Agreement to any party.

Section 10.5. Headings. The headings used in this Agreement are used for convenience
only and are not to be considered in construing or interpreting this Agreement.

Section 10.6. Replacement of Certificates. Upon (i) receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of a certificate
representing the Common Stock, Warrant or Warrant Shares and (ii) in the case of any such loss,
theft or destruction of such certificate, upon delivery of an indemnity agreement or security
reasonably satisfactory in form to the Company (which may include the posting of any bond) or
(iii) in the case of any such mutilation, on surrender and cancellation of such certificate, the
Company at its expense will execute and deliver, in lieu thereof, a new certificate of like
tenor.

Section 10.7. Fees and Expenses. Each of the Company and the Investor agrees to pay its
own expenses incident to the performance of its obligations hereunder.

Section 10.8. Brokerage. Except for the brokers or finders set forth on Schedule 2,
whose fees shall be paid by the Company, each of the parties hereto represents that it has had
no dealings in connection with this transaction with any finder or broker who will demand
payment of any fee or commission from the other party. The Company on the one hand, and the
Investor, on the other hand, agree to indemnify the other against and hold the other harmless
from any and all liabilities to any Person claiming brokerage commissions or finder’s fees on
account of services purported to have been rendered on behalf of the indemnifying party in
connection with this Agreement or the transactions contemplated hereby.

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     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by the
undersigned, thereunto duly authorized, as of the date first set forth above.

	 	 	 	 	 
	 	SEDONA CORPORATION

 	 
	 	By:  	 	 
	 	 	Marco A. Emrich, President and 	 
	 	 	Chief Executive Officer 	 
	 
	Investor:	 	 
	 	 	 
	 	 	 
	Address: 	By:  	 	 
	 	 	Milton B. Young 	 
	 	 	 	 

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Schedule 1

Investment

The Investor shall pay the Company the Purchase Price of $300,000 in exchange for: (i) 1,578,947
Shares of Common Stock and (ii) a Warrant to purchase 789,473 shares of Common Stock at a purchase
price of $0.285 per share.

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Schedule 2

Brokers

Michael H. Lewis — 1331 Applewood Road, Baton Rouge, LA 70808

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Exhibit A

Registration Rights Agreement

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Exhibit B

Warrant

17exv10w93

 

EXHIBIT 10.93

REGISTRATION RIGHTS AGREEMENT

          THIS REGISTRATION RIGHTS AGREEMENT, dated as of, between the Milton B. Young (the “Investor”),
and Sedona Corporation, a Pennsylvania corporation (the “Company”).

          WHEREAS, simultaneously with the execution and delivery of this Agreement, the Investor is
purchasing from the Company, pursuant to a Common Stock and Warrant Purchase Agreement dated the
date hereof (the “Purchase Agreement”), 1,578,947 shares of Common Stock and a Warrant to purchase
789,473 shares of the Company’s Common Stock (the “Warrant Shares”); and

          WHEREAS, the Company desires to grant to the Investor the registration rights set forth herein
with respect to the shares of Common Stock purchased pursuant to the Purchase Agreement and the
Warrant Shares (hereinafter referred to as the “Stock” or “Securities” of the Company); and

          WHEREAS, capitalized terms not defined herein shall have the meanings ascribed to them in the
Purchase Agreement.

          NOW, THEREFORE, the parties hereto mutually agree as follows:

          Section 1. Registrable Securities. As used herein the term “Registrable Securities”
means the Securities until (i) the Registration Statement has been declared effective by the
Commission, and all Securities have been disposed of pursuant to the Registration Statement, (ii)
all Securities have been sold under circumstances under which all of the applicable conditions of
Rule 144 (or any similar provision then in force) under the Securities Act (“Rule 144”) are met,
(iii) all Securities have been otherwise transferred to holders who may trade such Securities
without restriction under the Securities Act, and the Company has delivered a new certificate or
other evidence of ownership for such Securities not bearing a restrictive legend or (iv) such time
as, in the opinion of counsel to the Company, all Securities may be sold without any time, volume
or manner limitations pursuant to Rule 144(k) (or any similar provision then in effect) under the
Securities Act. In the event of any merger, reorganization, consolidation, recapitalization or
other change in corporate structure affecting the Common Stock, such adjustment shall be deemed to
be made in the definition of “Registrable Securities” as is appropriate in order to prevent any
dilution or enlargement of the rights granted pursuant to this Agreement.

 

 

          Section 2. Restrictions on Transfer. The Investor acknowledges and understands that
prior to the registration of the Securities as provided herein, the Securities are “restricted
securities” as defined in Rule 144 promulgated under the Securities Act. The Investor understands
that no disposition or transfer of the Securities may be made by such Investor in the absence of
(i) an opinion of counsel, in form and substance reasonably satisfactory to the Company, that such
transfer may be made without registration under the Securities Act or (ii) such registration.

          With a view to making available to the Investor the benefits of Rule 144 under the Securities
Act or any other similar rule or regulation of the SEC that may at any time permit the Investor to
sell securities of the Company to the public without registration, the Company agrees to use its
reasonable best efforts to:

               (a) comply with the provisions of paragraph (c)(1) of Rule 144; and

               (b) file with the SEC in a timely manner all reports and other documents required to be filed
with the SEC pursuant to Section 13 or 15(d) under the Exchange Act by companies subject to either
of such sections.

          Section 3. Registration Rights With Respect to the Securities.

               (a) The Company agrees that it will use its best efforts to prepare and file with the SEC, as
soon as reasonably practicable, a registration statement under the Securities Act (the
“Registration Statement”), at the sole expense of the Company (except as provided in Section 3(c)
hereof), in respect of the Investor, so as to permit a public offering and resale of the Securities
under the Act by the Investor as a selling stockholder and not as an underwriter.

               (b) The Company will maintain the Registration Statement filed under this Section 3 effective
under the Securities Act until the earlier of (i) the Securities subject to the Registration
Statement are no longer Registrable Securities , or (ii) two (2) years from the Effective Date (the
“Effectiveness Period”).

               (c) All fees, disbursements and out-of-pocket expenses and costs incurred by the Company in
connection with the preparation and filing of the Registration Statement under subparagraph 3(a),
and in complying with applicable securities and Blue Sky laws (including, without limitation, all
attorney’s fees of the Company), shall be borne by the Company. The Investor shall bear its own
costs of underwriting and/or brokerage discounts, fees and commissions, if any, applicable to the
Securities being registered and the fees and expenses of its counsel. The Investor and its counsel
shall have a reasonable period, not to exceed five (5) Trading Days, to review the proposed
Registration Statement or any amendment thereto, including a copy of the Company’s proposed
response to any staff comments, prior to filing with the SEC, and the Company shall provide the
Investor with copies of any comment letters received from the SEC with respect thereto within two
(2) Trading Days of receipt thereof and

2

 

shall communicate any oral advice from the SEC as to whether or not the Registration Statement will be reviewed, and if so, how extensively. So long as no undue effort or expense to the Company
is required, the Company shall qualify any of the securities for sale in such states as any
Investor reasonably designates and shall furnish indemnification in the manner provided in Section
6 hereof. However, the Company shall not be required to qualify in any state which will require an
escrow or other restriction relating to the Company and/or the sellers, or which will require the
Company to qualify to do business in such state or require the Company to file therein any general
consent to service of process. The Company at its expense will supply the Investor with copies of
the applicable Registration Statement and the prospectus included therein and other related
documents in such quantities as may be reasonably requested by the Investor.

               (d) The Company shall not be required by this Section 3 to include any Investor’s Securities
in any Registration Statement which is to be filed if, in the opinion of the Company, the proposed
offering or other transfer as to which such registration is requested is exempt from applicable
federal and state securities laws and would result in all purchasers or transferees obtaining
securities which are not “restricted securities”, as defined in Rule 144 under the Securities Act.

               (f) No provision contained herein shall preclude the Company from selling securities pursuant
to any Registration Statement in which it is required to include Securities pursuant to this
Section 3.

               (g) If at any time or from time to time after the effective date of any Registration
Statement, the Company notifies the Investor in writing of the existence of a Potential Material
Event (as defined in Section 3(h) below), the Investor shall not offer or sell any Securities or
engage in any other transaction involving or relating to Securities, from the time of the giving of
notice with respect to a Potential Material Event until the Investor receives written notice from
the Company that such Potential Material Event either has been disclosed to the public or no longer
constitutes a Potential Material Event; provided, however, that the Company may not so suspend such
right to offer or sell any Securities for more than ninety (90) days in the aggregate during any
twelve month period during the period the Registration Statement is required to be in effect. If a
Potential Material Event shall occur prior to the date a Registration Statement is required to be
filed, then the Company’s obligation to file such Registration Statement shall be delayed for not
more than ninety (90) days.

               (h) “Potential Material Event” means any of the following: (i) the possession by the Company
of material information not ripe for disclosure in a registration statement, if determined in good
faith by the Chief Executive Officer or the Board of Directors of the Company; or (ii) any material
engagement or activity by the Company which would, in the good faith determination of the Chief
Executive Officer or the Board of Directors of the Company, be adversely affected by disclosure in
a registration statement at such time, which determination shall be accompanied by a good faith
determination by the Chief Executive Officer

3

 

or the Board of Directors of the Company that the applicable Registration Statement might be
materially misleading absent the inclusion of such information.

               (i) In connection with any offering under this Section 3 involving an underwriting, the
Company shall not be required to include any Registrable Securities in such underwriting unless the
Investor thereof accepts the terms of the underwriting as agreed upon between the Company and the
underwriters selected by it. If, in the opinion of the managing underwriter, the registration of
all, or part of, the Registrable Securities that the Investor has requested to be included would be
likely to materially and adversely affect such public offering, then the Company shall be required
to include in the underwriting only that number of Registrable Securities, if any, that the
managing underwriter in good faith believes may be sold without causing such adverse effect. If
the number of Registrable Securities to be included in the underwriting in accordance with the
foregoing is less than the total number of shares that the Investor has requested to be included,
the Investor who has requested registration shall participate in the underwriting pro rata based
upon its total ownership of Registrable Securities. If the Investor would thus be entitled to
include more shares than he requested to be registered, the excess shall be allocated among other
requesting investors pro rata based upon their total ownership of Registrable Securities.

          Section 4. Cooperation with Company. The Investor will cooperate with the Company in
all respects in connection with this Agreement, including timely supplying all information
reasonably requested by the Company (which shall include all information regarding the Investor and
proposed manner of sale of the Registrable Securities required to be disclosed in any Registration
Statement) and executing and returning all documents reasonably requested in connection with the
registration and sale of the Registrable Securities and entering into and performing their
obligations under any underwriting agreement, if the offering is an underwritten offering, in usual
and customary form, with the managing underwriter or underwriters of such underwritten offering.

          Section 5. Registration Procedures. If and whenever the Company is required by any
of the provisions of this Agreement to effect the registration of any of the Registrable Securities
under the Securities Act, the Company shall (except as otherwise provided in Section 3(g) and
elsewhere in this Agreement), as expeditiously as possible, subject to the Investor’s assistance
and cooperation as reasonably required with respect to each Registration Statement:

               (a) (i) prepare and file with the SEC such amendments and supplements to the Registration
Statement and the prospectus used in connection therewith as may be necessary to keep such
Registration Statement effective and to comply with the provisions of the Securities Act with
respect to the sale or other disposition of all securities covered by such registration statement
whenever the Investor shall desire to sell or otherwise dispose of the same (including prospectus
supplements with respect to the sales of securities from time to time in connection with a
registration statement pursuant to Rule 415 promulgated

4

 

under the Securities Act) and (ii) take all lawful action such that each of (A) the
Registration Statement and any amendment thereto does not, when it becomes effective, 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 and (B) the prospectus forming part of the Registration Statement, and any
amendment or supplement thereto, does not at any time during the Registration Period include 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;

               (b) (i) prior to the filing with the SEC of any Registration Statement (including any
amendments thereto) and the distribution or delivery of any prospectus (including any supplements
thereto), provide draft copies thereof to the Investor as required by Section 3(c) and (ii) furnish
to the Investor such numbers of copies of a prospectus including a preliminary prospectus or any
amendment or supplement to any prospectus, as applicable, in conformity with the requirements of
the Securities Act, and such other documents, as the Investor may reasonably request in order to
facilitate the public sale or other disposition of the securities owned by the Investor;

               (c) register and qualify the Registrable Securities covered by the Registration Statement
under such other securities or Blue Sky laws of such jurisdictions as the Investor shall reasonably
request (subject to the limitations set forth in Section 3(c) above), and do any and all other acts
and things which, on the Company’s part, may be necessary or advisable to enable the Investor to
consummate the public sale or other disposition in such jurisdiction of the securities owned by
such Investor;

               (d) list such Registrable Securities on the Principal Market, if the listing of such
Registrable Securities is then permitted and required under the rules of such Principal Market;

               (e) notify the Investor at any time when a prospectus relating thereto covered by the
Registration Statement is required to be delivered under the Securities Act, of the happening of
any event of which it has knowledge as a result of which the prospectus included in the
Registration Statement, as then in effect, includes an untrue statement of a material fact or omits
to state a material fact required to be stated therein or necessary to make the statements therein
not misleading in the light of the circumstances then existing, and the Company shall prepare and
file a curative amendment under Section 5(a) as quickly as commercially possible;

               (f) as promptly as practicable after becoming aware of such event, notify the Investor who
holds Registrable Securities being sold (or, in the event of an underwritten offering, the managing
underwriters) of the issuance by the SEC of any stop order or other suspension of the effectiveness
of the Registration Statement at the earliest possible time

5

 

and take all lawful action to effect the withdrawal, recession or removal of such stop order
or other suspension;

               (g) cooperate with the Investor to facilitate the timely preparation and delivery of
certificates for the Registrable Securities to be offered pursuant to the Registration Statement
and enable such certificates for the Registrable Securities to be in such denominations or amounts,
as the case may be, as the Investor reasonably may request and registered in such names as the
Investor may request; and, within five (5) Trading Days after a Registration Statement which
includes Registrable Securities is declared effective by the Commission, deliver and cause legal
counsel selected by the Company to deliver to the transfer agent for the Registrable Securities
(with copies to the Investor) an appropriate instruction and, to the extent necessary, an opinion
of such counsel;

               (h) take all such other lawful actions reasonably necessary, on the part of the Company, to
expedite and facilitate the disposition by the Investor of their Registrable Securities in
accordance with the intended methods therefor provided in the prospectus which are customary for
issuers to perform under the circumstances; and

               (i) maintain a transfer agent and registrar for its Common Stock.

          Section 6. Indemnification.

               (a) To the maximum extent permitted by law, the Company agrees to indemnify and hold harmless
the Investor, the underwriter of the Investor’s Registrable Shares and each person, if any, who
controls the Investor or underwriter within the meaning of the Securities Act (each a “Distributing
Investor”) against any losses, claims, damages or liabilities, joint or several (which shall, for
all purposes of this Agreement, include, but not be limited to, all reasonable costs of defense and
investigation and all reasonable attorneys’ fees and expenses), to which the Distributing Investor
may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages
or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement
or alleged untrue statement of any material fact contained in any Registration Statement, or any
related final prospectus or amendment or supplement thereto, or arise out of or are based upon the
omission or alleged omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading; provided, however, that the Company will
not be liable in any such case to the extent, and only to the extent, that any such loss, claim,
damage or liability arises out of or is based upon an untrue statement or alleged untrue statement
or omission or alleged omission made in such Registration Statement, preliminary prospectus, final
prospectus or amendment or supplement thereto in reliance upon, and in conformity with, written
information furnished to the Company by the

6

 

Distributing Investor, its counsel, affiliates or any underwriter, specifically for use in the
preparation thereof.

               (b) To the maximum extent permitted by law, the Investor agrees that it will indemnify and
hold harmless the Company, each officer and director of the Company, each underwriter and each
person, if any, who controls the Company or any such underwriter within the meaning of the
Securities Act, against any losses, claims, damages or liabilities (which shall, for all purposes
of this Agreement, include, but not be limited to, all reasonable costs of defense and
investigation and all reasonable attorneys’ fees and expenses) to which the Company, any such
underwriter or any such officer, director or controlling person of the Company or any such
underwriter may become subject under the Securities Act or otherwise, insofar as such losses,
claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any
untrue statement or alleged untrue statement of any material fact contained in any Registration
Statement, or any related final prospectus or amendment or supplement thereto, or arise out of or
are based upon the omission or the alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein not misleading, but in each case only to
the extent that such untrue statement or alleged untrue statement or omission or alleged omission
was made in such Registration Statement, final prospectus or amendment or supplement thereto in
reliance upon, and in conformity with, written information furnished to the Company by such
Investor, its counsel or affiliates, specifically for use in the preparation thereof.
Notwithstanding anything to the contrary contained herein, the Investor shall not be liable under
this Section 6(b) for any amount that exceeds the gross proceeds to the Investor as a result of the
sale of Registrable Securities pursuant to the Registration Statement. This indemnity agreement
will be in addition to any liability which the Investor may otherwise have and is not a limitation
on any other indemnity obligation of the Investor to the Company.

               (c) Promptly after receipt by an indemnified party under this Section 6 of notice of the
commencement of any action against such indemnified party, such indemnified party will, if a claim
in respect thereof is to be made against the indemnifying party under this Section 6, notify the
indemnifying party in writing of the commencement thereof; but the omission so to notify the
indemnifying party will not relieve the indemnifying party from any liability which it may have to
any indemnified party except to the extent the failure of the indemnified party to provide such
written notification actually prejudices the ability of the indemnifying party to defend such
action. In case any such action is brought against any indemnified party, and it notifies the
indemnifying party of the commencement thereof, the indemnifying party will be entitled to
participate in, and, to the extent that it may wish, jointly with any other indemnifying party
similarly notified, assume the defense thereof, subject to the provisions herein stated and after
notice from the indemnifying party to such indemnified party of its election to assume the defense
thereof, the indemnifying party will not be liable to such indemnified party under this Section 6
for any legal or other expenses subsequently incurred by such indemnified party in connection with
the defense thereof other than reasonable costs of investigation, unless the indemnifying party
shall not pursue the action to its final conclusion.

7

 

The indemnified parties as a group shall have the right to employ one separate counsel in any
such action and to participate in the defense thereof, but the fees and expenses of such counsel
shall not be at the expense of the indemnifying party if the indemnifying party has assumed the
defense of the action with counsel reasonably satisfactory to the indemnified party unless (i) the
employment of such counsel has been specifically authorized in writing by the indemnifying party,
or (ii) the named parties to any such action (including any impleaded parties) include both the
indemnified party and the indemnifying party and the indemnified party shall have been advised by
its counsel that there may be one or more legal defenses available to the indemnifying party
different from or in conflict with any legal defenses which may be available to the indemnified
party or any other indemnified party (in which case the indemnifying party shall not have the right
to assume the defense of such action on behalf of such indemnified party, it being understood,
however, that the indemnifying party shall, in connection with any one such action or separate but
substantially similar or related actions in the same jurisdiction arising out of the same general
allegations or circumstances, be liable only for the reasonable fees and expenses of one separate
firm of attorneys for the indemnified party, which firm shall be designated in writing by the
indemnified party). No settlement of any action against an indemnified party shall be made without
the prior written consent of the indemnified party, which consent shall not be unreasonably
withheld so long as such settlement includes a full release of claims against the indemnified
party, and no indemnified party shall consent to entry of any judgment or settle any claim or
litigation without the prior written consent of the indemnifying party.

          Section 7. Contribution. In order to provide for just and equitable contribution
under the Securities Act in any case in which (i) the indemnified party makes a claim for
indemnification pursuant to Section 6 hereof but is judicially determined (by the entry of a final
judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the
denial of the last right of appeal) that such indemnification may not be enforced in such case
notwithstanding the fact that the express provisions of Section 6 hereof provide for
indemnification in such case, or (ii) contribution under the Securities Act may be required on the
part of any indemnified party, then the Company and the applicable Distributing Investor shall
contribute to the aggregate losses, claims, damages or liabilities to which they may be subject
(which shall, for all purposes of this Agreement, include, but not be limited to, all reasonable
costs of defense and investigation and all reasonable attorneys’ fees and expenses), in either such
case (after contribution from others) on the basis of relative fault as well as any other relevant
equitable considerations. The relative fault shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to information supplied by the Company on the one
hand or the applicable Distributing Investor on the other hand, and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission.
The Company and the Distributing Investor agree that it would not be just and equitable if
contribution pursuant to this Section 7 were determined by pro rata allocation or by any other
method of allocation which does not take account of the equitable considerations referred to in
this Section 7. The amount paid or payable by an indemnified party as a result of

8

 

the losses, claims, damages or liabilities (or actions in respect thereof) referred to above
in this Section 7 shall be deemed to include any legal or other expenses reasonably incurred by
such indemnified party in connection with investigating or defending any such action or claim. No
person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation.

          Notwithstanding any other provision of this Section 7, in no event shall any Investor be
required to undertake liability to any person under this Section 7 for any amounts in excess of the
dollar amount of the gross proceeds received by such Investor from the sale of such Investor’s
Registrable Securities pursuant to any Registration Statement under which such Registrable
Securities are registered under the Securities Act.

          Section 8. Notices. All notices, demands, requests, consents, approvals, and other
communications required or permitted hereunder shall be in writing and, unless otherwise specified
herein, shall be delivered as provided in the Purchase Agreement.

          Section 9. Amendments and Waivers. This Agreement may be modified by the Company
from time to time to cure any ambiguity or correct or supplement any provision contained herein
which may be defective or inconsistent with any other provision herein, or to make any other
provisions in regard to matters or questions arising hereunder which the Company may deem necessary
or desirable and which shall not materially adversely affect the interest of the Investor and, in
addition, the Company may modify, supplement, or alter this Agreement at any time with the written
consent of the Investor.

          Section 10. Assignment. This Agreement is binding upon and inures to the benefit of
the parties hereto and their respective heirs, successors and permitted assigns. The rights granted
the Investor under this Agreement may be assigned upon the written consent of the Company only as
permitted by the Purchase Agreement.

          Section 11. Additional Covenants of the Company. The Company agrees, it shall file
all reports and information required to be filed by it with the SEC in a timely manner and take all
such other action so as to maintain such eligibility for the use of the appropriate Registration
Statement for such purpose.

          Section 12. No Registration of Warrant. The registration rights contained herein
apply only to the shares of Common Stock, and the Company shall never be obligated to register the
Warrant.

          Section 13. Counterparts/Facsimile. This Agreement may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when together shall
constitute but one and the same instrument, and shall become effective when one or more

9

 

counterparts have been signed by each party hereto and delivered to the other parties. In
lieu of the original, a facsimile transmission or copy of the original shall be as effective and
enforceable as the original.

          Section 14. Remedies; Severability. The remedies provided in this Agreement are
cumulative and not exclusive of any remedies provided by law. 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 best 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.

          Section 15. Headings. The headings in this Agreement are for reference purposes only
and shall not affect in any way the meaning or interpretation of this Agreement.

          Section 16. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the Commonwealth of Pennsylvania without regard to the choice of law or
conflicts of law provisions thereof. Each of the parties hereto hereby irrevocably and
unconditionally consents to submit to the non-exclusive jurisdiction of the courts of the
Commonwealth of Pennsylvania and of the United States of America, located in the Commonwealth of
Pennsylvania, for any action, proceeding or investigation in any court or before any governmental
authority (“Litigation”) arising out of or relating to this Agreement and the transactions
contemplated hereby, and further agrees that service of any process, summons, notice or document by
U.S. registered mail to its respective address set forth in the Purchase Agreement shall be
effective service of process for any Litigation brought against it in any such court. Each of the
parties hereto hereby irrevocably and unconditionally waives any objection to the laying of venue
of any Litigation arising out of this Agreement or the transaction contemplated hereby in the
courts of the Commonwealth of Pennsylvania or the United States of America, located in the
Commonwealth of Pennsylvania, and hereby further irrevocably and unconditionally waives and agrees
not to plead or claim in any such court that any such Litigation brought in any such court has been
brought in an inconvenient forum.

10

 

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

	 	 	 	 	 
	 	SEDONA CORPORATION

 	 
	 	By:  	 	 
	 	 	Marco A. Emrich 	 
	 	 	President and Chief Executive Officer 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	Milton B. Young 	 
	 	 	Title:  	Investor 	 
	 

11

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