Amendment to Factoring and Security Agreement between ClearStory Systems, Inc. and Benefactor Funding Corp.

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Summary

This amendment, effective November 1, 2004, updates the Factoring and Security Agreement originally signed on October 13, 2004, between ClearStory Systems, Inc. (formerly INSCI CORP. and insci-statements.com, corp.) and Benefactor Funding Corp. The amendment changes the name of the client in the agreement to reflect the company's new name and clarifies that faxed signatures are valid. All other terms of the original agreement remain unchanged.

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EX-10.88 3 exh10-88.txt AMENDMENT TO FACTORING & SECURITY AGT Exhibit 10.88 AMENDMENT This Amendment, dated as of November 1, 2004, (the "Amendment") amends the Factoring and Security Agreement, dated October 13, 2004, (the "Agreement") between INSCI CORP., formerly insci-statements.com, corp., a Delaware corporation, which sometimes uses the name INSCI (collectively the "Client") and Benefactor Funding Corp., a Colorado corporation (the "Factor"). In consideration of the respective promises, representations, warranties, covenants and agreements contained herein and in the Agreement, Client and Factor agree as follows: 1. The term "Client" in the Agreement is hereby amended to read as follows: "ClearStory Systems, Inc., formerly INSCI CORP. and formerly insci-statements.com, corp., a Delaware corporation, which sometimes uses the name INSCI (collectively the "Client")". 2. Signature via fax shall be considered original signature for this Amendment. 3. All capitalized terms used herein shall have the meaning set forth in the Agreement. All other provisions of the Agreement shall remain in full force and effect and are not modified by this Amendment. IN WITNESS WHEREOF, the parties to this Amendment have duly executed it as of the day and year above written. FACTOR: CLIENT: BENEFACTOR FUNDING CORP. CLEARSTORY SYSTEMS, INC., FORMERLY INSCI CORP. AND FORMERLY INSCI-STATEMENTS.COM, CORP., WHICH SOMETIMES USES THE NAME INSCI /S/ THOMAS R. SMELTZ /S/ HENRY F. NELSON - -------------------- -------------------- Thomas R. Smeltz, Vice President Henry F. Nelson, President and CEO