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EX-10.76 7 s001131x1_ex10-76.htm EXHIBIT 10.76

 

[CIC letterhead]

 

Exhibit 10.76

 

December 3, 2015

 

SG Phoenix LLC
110 East 59th Street, Suite 1901
New York, NY 10022
Attn.: Andrea Goren, Member

 

Re: Compensation Deferral

 

Dear Andrea

 

Reference is made to that certain Note Purchase Agreement, dated as of November 25, 2015, by and among Communication Intelligence Corporation (the “Company”) and certain accredited investors (the “Note Purchase Agreement”). All capitalized terms used herein that are not defined shall have the meaning assigned to those terms in the Note Purchase Agreement.

 

This letter will serve to confirm that you have agreed to defer compensation owed to you (and to be owed to you provided you continue to provide your services to the Company for the applicable period), as set forth herein. In exchange for the deferral of your compensation as set forth on Exhibit A attached hereto (the “Deferred Compensation”), the Company agrees that such Deferred Compensation will be an unsecured obligation of the Company with the same terms and subject to the same provisions, mutatis mutandis, as those set forth in the Note.

 

For any Deferred Compensation owed as of September 30, 2015, interest will accrue commencing on October 1, 2015. For any Deferred Compensation generated in any given month starting with October 2015, interest will begin to accrue beginning on the first day of the following month. For example, if $1,000 of Deferred Compensation is generated in October 2015, interest will first begin to accrue on such amount starting November 1. No interest will accrue on such amount during the month of October.

 

This letter shall be governed by, and construed in accordance with, the laws of the State of New York excluding that body of law relating to conflicts of law.

 

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Deferred Compensation Side Letter – SGP 

Page 2

 

Please indicate your agreement and acceptance of the terms and conditions of this letter agreement by executing this letter agreement in the designated space below.

 

Very truly yours,

 

COMMUNICATION INTELLIGENCE CORPORATION

 

By:   /s/ Craig Hutchison                                       
Name: Craig Hutchison
Title: Vice President and Assistant Treasurer

 

AGREED AND ACCEPTED:

 

SG PHOENIX LLC

 

By:    /s/ Andrea Goren                                          
Name: Andrea Goren
Title: Member

 

 
 

 

EXHIBIT A

 

Deferred Compensation for SG PHOENIX LLC

 

Estimated through March 31, 20161.

 

Amount Month Year   Amount Month Year
$15,000.00 July 2013 $15,000.00 March 2015
$15,000.00 August 2013   $7,500.00 May 2015
$15,000.00 September 2013   $15,000.00 July 2015
$15,000.00 October 2013   $15,000.00 August 2015
$15,000.00 November 2013   $15,000.00 September 2015
$15,000.00 December 2013   $15,000.00 October 2015
$15,000.00 January 2014   $15,000.00 November 2015
$15,000.00 February 2014   $15,000.00 December 2015
$15,000.00 March 2014   $15,000.00 January 2016
$15,000.00 April 2014   $15,000.00 February 2016
$15,000.00 May 2014   $15,000.00 March 2016
$15,000.00 June 2014   $15,000.00 July 2013
$15,000.00 July 2014   $15,000.00 August 2013
$15,000.00 August 2014   $15,000.00 September 2013
$15,000.00 September 2014   $15,000.00 October 2013
$15,000.00 October 2014   $15,000.00 November 2013
$15,000.00 November 2014   $15,000.00 December 2013
$15,000.00 December 2014   $15,000.00 January 2014
$15,000.00 January 2015   $15,000.00 February 2014
$15,000.00 February 2015  

$15,000.00 

March 2014
       

$457,500.00 

   

 

 

 

 

 

1 Actual Deferred Compensation will depend on timing of the Next Equity Financing.