ADDITIONAL BRIDGE LOAN AGREEMENT This Additional Bridge Loan Agreement is made as of May 28, 1998 between Cavion Technologies, Inc., a Colorado corporation formerly known as Sigmacom Corporation (the "Company"), and the investors listed on the SCHEDULE OF ADDITIONAL INVESTORS attached hereto (the "Additional Investors"). Management of the Company is now investigating the potential for a new equity investment or sale of the Company, but will not be able to complete any such transaction without an immediate infusion of short-term working capital. In order to provide for this need, the Additional Investors and the Company are now entering into a bridge loan in the aggregate amount of $130,000, and related transactions, on the terms of this Agreement. The Company has also entered into a similar bridge loan with British Far East Holdings Ltd., Martin Cooper, and Fairway Realty Associates in the aggregate amount of $150,000. The Company is also anticipating possible additional bridge loans by others who are presently shareholders of the Company (the "Other Shareholder Investors") in the amount of not more than $50,000 for each such Other Shareholder Investor (in each case, with the purchase of nonvoting shares with put). There is no assurance that any Other Shareholder Investor will make any such additional bridge loan, and the obligations of the Company and the Additional Investors under this Bridge Loan and the instruments and agreements contemplated herein are not conditioned upon the making of any such additional bridge loan. In consideration of the mutual covenants contained in this Agreement, it is agreed as follows: 1. INITIAL BRIDGE TRANSACTION. Concurrently with execution of this Agreement, each Additional Investor will deliver to the Company funds equal to the Loan Amount listed on the Schedule of Additional Investors, plus (as consideration for purchase of the Shares) funds equal to $0.01 times the Share Amount listed on the Schedule of Additional Investors. Upon receipt of the funds, the Company will issue to each Additional Investor: (a) a Senior Promissory Note in the form attached as EXHIBIT A (which, with any notes on substantially the same terms that may be issued to any or all of the Additional Investors or the Other Shareholder Investors under bridge loan agreements on substantially the same terms as contained in this Agreement, are herein called the Senior Notes, in a principal amount equal to the Loan Amount listed on the Schedule of Additional Investors; (b) a number of shares of the nonvoting common stock, par value $0.01 per share, of the Company (the "Shares") equal to the Share Amount listed on the Schedule of Additional Investors; and (c) a Put Agreement in the form attached as EXHIBIT B. 2. ADDITIONAL BRIDGE TRANSACTION. Each Additional Investor acknowledges and agrees that British Far East Holdings Ltd., Martin Cooper, and Fairway Realty Associates have participated in a similar bridge loan and that one or more or all of the Other Shareholder Investors may participate in additional bridge loans to the Company (and the purchase of nonvoting shares with put) on terms essentially equivalent to those herein extended to the Additional Investors. 3. COMPANY'S REPRESENTATIONS AND COVENANT. The Company represents, warrants and covenants to each Additional Investor as follows: (a) the Company has entered into the bridge transaction after careful consideration of all alternatives; (b) the Company is aware of the potential return to the Additional Investors pursuant to the bridge transaction, and acknowledges that the amount of the potential return to the Additional Investors appropriately reflects the risk inherent in the bridge transaction; and (c) the Company hereby covenants not to assert a defense of usury to any action by an Additional Investor to collect any amount due under a Senior Note or the Put Agreement. 4. ADDITIONAL INVESTORS' REPRESENTATIONS. Each Additional Investor represents and warrants to the Company as follows: (a) the Additional Investor is an "accredited investor" within the meaning of Regulation D under the Securities Act of 1933, as amended (the "Securities Act"); (b) the Additional Investor is acquiring the Shares for his own account for purposes of investment, and not with a view toward the sale or other distribution thereof, (c) the Additional Investor has received or had access to all information he deems necessary to make a judgment with respect to the acquisition of the Shares, including the opportunity to ask questions of and discuss the Company's business with management of the Company; (d) the Additional Investor understands that the Shares must be held indefinitely unless registered under the Securities Act or unless an exemption from registration exists, that no public market now exists for the Shares, and that there may never exist a public market for the Shares; and (e) the Additional Investor understands that the Shares have not been registered under the Securities Act (on the ground that the sale of the Shares is exempt from registration as not involving a public offering), and that the reliance of the Company on such exemption is based upon the representations made in this section. 5. RESTRICTED SECURITIES. The Shares have not been registered under the Securities Act or any state securities law, and are not transferable except pursuant to (a) a public offering registered under the Securities Act, or (b) subject to the conditions specified in the following subsection, Rule 144 of the Securities and Exchange Commission (if available), or any other legally available means of transfer. In connection with the transfer of any Shares (except in a registered public offering), the Additional Investor shall deliver to the Company written notice describing the proposed transfer in reasonable detail, together with an opinion of counsel which (to the Company's reasonable satisfaction) is knowledgeable in securities law matters, to the effect that such transfer may be effected without registration or qualification of such Shares under the Securities Act or applicable state securities laws. The Additional Investor shall not transfer the certificates representing the Shares until the transferee has confirmed to the Company in writing its agreement to be bound by the conditions contained in this section. Any person acquiring any securities of the Company from any Additional Investor shall, upon acquiring such securities, become bound by the terms of this Agreement, and the transfer of such securities shall not be made on the books of the Company until a copy of this Agreement has been executed by such person. Failure or refusal of the transferee to sign this Agreement shall not relieve such person from any obligations under this Agreement. 6. NOTICES. All notices under this Agreement will be in writing and deemed given upon receipt, by (1) personal delivery, (2) telephonically confirmed fax, (3) receipted courier service or (4) certified or registered mail, return receipt requested, addressed to the principal office of the Company (if to the Company), or to the address shown on the shareholder records of the Company (if to an Additional Investor). Refusal to accept delivery will be deemed receipt. 7. GENERAL. This Agreement will be governed by the laws of the State of Delaware. This Agreement will be binding upon the personal representatives, successors and assigns of the parties hereto, but will not be assignable without the prior written consent of the non- assigning party. This Agreement constitutes the entire agreement between the parties and may not be waived or modified except in writing. This Agreement may be executed in any number of counterparts, each of which will be an original and all of which together will be one instrument. The headings used in this Agreement are for convenience only and will not affect the interpretation hereof. [Signatures follow.] IN WITNESS WHEREOF, the parties have executed this Additional Bridge Loan Agreement as of the date first set forth above. CAVION TECHNOLOGIES, INC. By:/s/Craig E. Lassen /s/Randal W. Burtis Craig E. Lassen RANDAL W. BURTIS, individually Chairman and Chief Executive Officer - ------------------------------ /s/Jeff Marshall CRAIG E. LASSEN, individually JEFF MARSHALL, individually /s/David J. Selina DAVID J. SELINA, individually SCHEDULE TO ADDITIONAL BRIDGE LOAN AGREEMENT SCHEDULE OF ADDITIONAL INVESTORS NAME AND ADDRESS SHARE LOAN AMOUNT AMOUNT Craig E. Lassen 2,204 $20,000 Tax id no:-------------------------- 2218 Elm Street Denver, Colorado 80207 Home voice telephone: 303-320-0861 Office voice telephone: 303-412-3160 David J. Selina 3,306 $30,000 Tax id no:-------------------------- 5523 South Jasper Way Aurora, Colorado 80015 Home voice telephone: 303-766-9448 Office voice telephone: 303-412-3165 Fax: 303-657-8210 Jeff Marshall 5,509 $50,000 Tax id no:-------------------------- 6198 South Killarney Dr. Aurora, Colorado 80016 Home voice telephone: 303-617-7177 Office voice telephone: 303-412-3178 Fax: 303-657-8210 Randal W. Burtis 3,306 $30,000 Tax id no:-------------------------- 1665 Logan #944 Denver, Colorado 80203 Home voice telephone: 303-831-8674 Office voice telephone: 303-412-3175 Fax: 303-657-8210 EXHIBIT A TO ADDITIONAL BRIDGE LOAN AGREEMENT CAVION TECHNOLOGIES, INC. ------------------------- SENIOR PROMISSORY NOTE $50,000 May 28,1998 Cavion Technologies, Inc., a Colorado corporation ("Maker"), hereby promises to pay to -------------------------------- ("Holder"), at ------- - ------------------------------------------ or at such other address as may be specified by Holder, the principal sum of ---------------------------- Dollars ($-), together with interest as described below, in lawful money of the United States of America. The principal indebtedness evidenced by this Note shall earn interest at the rate of forty-two percent (42%) per annum. Principal and interest shall be paid in three monthly installments of $-------------------- each, commencing on November 1, 1998, and continuing on the first day of each of the subsequent three months, with the entire balance of principal and accrued interest being due and payable on January 1, 1999. This Note may be prepaid in full, but not in part, at any time, subject to a prepayment penalty equal to the difference obtained by subtracting (1) all amounts paid on this Note to and including the prepayment from (2) all amounts that would have been paid on this Note had payment been made only as and when scheduled in the preceding sentence. Upon failure of Maker to pay any installment in full when due, Holder may, by notice to Maker, accelerate the obligation of Maker to pay the entire balance of this Note, and upon such acceleration there shall be due to Holder such amount as would be due if the Note had been prepaid in accordance with the preceding paragraph on the date notice of acceleration was given by Holder. All amounts due under this Note are "Senior Indebtedness" as defined in the Bridge Loan Agreement dated the date hereof among Maker and certain investors in Maker (including British Far East Holdings Ltd., Martin Cooper, and Fairway Realty Associates). Payments on this Note shall be made in pari passu with payments on the other Senior Promissory Notes of Maker dated the date hereof, as described in the Bridge Loan Agreement. This Note is registered on the books of Maker and is transferable only by surrender thereof at the principal office of Maker, duly endorsed or accompanied by a written instrument of transfer, executed by the registered Holder of this Note. Payment of or on account of principal and interest on this Note shall be made only to or upon the order in writing of the registered Holder. The provisions of this Note and of all agreements now or hereafter existing between Maker and Holder are hereby expressly limited so that in no event whatever shall the amount paid or agreed to be paid to Holder for the use, forbearance or detention of the sums evidenced by this Note exceed the maximum amount permissible under applicable law. If from any circumstance whatever the performance or fulfillment of any provision of this Note, or of any other agreement between Maker and Holder, should involve or purport to require any payment in excess of the limit prescribed by law, then the obligation to be performed or fulfilled is hereby reduced to the limit of such validity, and if from any circumstance whatever Holder should ever receive as interest an amount which would exceed the highest lawful rate, then the amount which would be excessive interest shall be applied to the reduction of principal (or, at Maker's option, be paid over to Maker) and shall not be counted as interest. Maker hereby waives presentment, protest, demand or notice of any kind in connection with any failure to pay when due the indebtedness evidenced by this Note. If Maker fails to pay the indebtedness when due, Maker agrees to pay Holder's reasonable legal fees and expenses incurred in connection with the enforcement of this Note. Regardless of the place of its execution, this Note shall be construed in accordance with the laws of the State of Delaware. CAVION TECHNOLOGIES, INC., a Colorado corporation By:---------------------------------- Craig E. Lassen, Chairman and CEO EXHIBIT B TO ADDITIONAL BRIDGE LOAN AGREEMENT PUT AGREEMENT This Put Agreement is made as of May 28, 1998 between Cavion Technologies, Inc., a Colorado corporation (the "Company"), and the investors listed on the signature pages hereof (the "Additional Investors"). The Additional Investors have purchased from the Company an aggregate of 12,121 shares of the nonvoting common stock, par value $0.01 per share, of the Company (the "Shares"), pursuant to the Additional Bridge Loan Agreement between the Additional Investors and the Company dated the date hereof (the "Additional Bridge Loan Agreement"). As a condition of the purchase, the Company has agreed to grant the Additional Investors an option to sell all or part of the Shares to the Company on the terms of this Agreement. In consideration of the Additional Bridge Loan Agreement, and for other valuable consideration, it is agreed as follows: 1 GRANT OF PUT. The Company grants to each Additional Investor an option (the "Put"), subject to the conditions of this Agreement, to sell to the Company all or part of the Shares held by such Additional Investor during the Exercise Period (as defined below), at a price of $7.00 per share (as adjusted pursuant to section 4). 2 EXERCISE OF PUT. (a) The Put shall be exercisable only by giving notice of exercise to the Company during a 60-day period beginning on January 1, 1999 (the "Exercise Period"), specifying the number of shares as to which the Put is exercised. If not exercised within the Exercise Period, the Put shall expire at 5:00 p.m. Denver, Colorado time on the last day of the Exercise Period. (b) Within 60 days after the end of the Exercise Period, the Company shall tender payment in full for the shares as to which the Put is exercised (plus any accumulated but unpaid dividends), in immediately available funds, against delivery to the principal offices of the Company of certificates representing the shares, accompanied by executed stock powers in proper form for transfer, free and clear of all liens, claims, and encumbrances. 3 TERMINATION. The Put shall terminate upon completion of the transactions described in the preceding section. 4 ADJUSTMENT. In the event of any recapitalization, stock split, combination of shares, or stock dividend, any shares into which the Shares are converted shall be subject to the Put, and appropriate adjustment shall be made in the purchase price of the Put. 5 NOTICES. All notices under this Agreement shall be in writing and deemed given upon receipt, by (1) personal delivery, (2) telephonically confirmed fax, (3) receipted courier service or (4) certified or registered mail, return receipt requested, addressed to the principal office of the Company (if to the Company), or to the address shown on the shareholder records of the Company (if to an Additional Investor). Refusal to accept delivery shall be deemed receipt. 6 GENERAL. This Agreement shall be governed by the laws of the State of Delaware. This Agreement shall be binding upon the personal representatives, successors and assigns of the parties hereto, but shall not be assignable without the prior written consent of the non-assigning party. This Agreement constitutes the entire agreement between the parties and may not be waived or modified except in writing. This Agreement may be executed in any number of counterparts, each of which shall be an original and all of which together shall be one instrument. The headings used in this Agreement are for convenience only and shall not affect the interpretation hereof. [Signatures follow.] IN WITNESS WHEREOF, the parties have executed this Put Agreement as of the date first written above. CAVION TECHNOLOGIES, INC. By:--------------------------- ------------------------------------- Craig E. Lassen RANDAL W. BURTIS, individually Chairman and Chief Executive Officer - ------------------------------ ------------------------------------- CRAIG E. LASSEN, individually JEFF MARSHALL, individually ------------------------------------- DAVID J. SELINA, individually