Exhibit 5 KRAMER LEVIN NAFTALIS & FRANKEL LLP 919 THIRD AVENUE NEW YORK, N.Y. 10022 - 3852 47, Avenue Hoche 75008 Paris TEL (212) 715-9100 France FAX (212) 715-8000 November 6, 2000 Securities and Exchange Commission Judiciary Plaza 450 Fifth Street, N.W. Washington, D.C. 20549 Re: Registration Statement on Form S-8 ---------------------------------- Ladies and Gentlemen: We have acted as counsel to Internet Commerce Corporation, a Delaware corporation (the "Registrant"), in connection with the preparation and filing of a Registration Statement on Form S-8 (the "Registration Statement") with the Securities and Exchange Commission (the "Commission"), with respect to the registration under the Securities Act of 1933, as amended (the "Act"), of an aggregate of an additional 2,000,000 shares of Class A Common Stock, par value $.01 per share (the "Class A Common Stock"), which may be issued upon exercise of options granted pursuant to the Registrant's Amended and Restated Stock Option Plan (the "Plan") and an aggregate of 349,018 shares of Class A Common Stock which may be issued upon exercise of options provided for in the Agreement and Plan of Merger, dated June 14, 2000 (the "Merger Agreement"), by and among the Registrant, ICC Acquisition Corporation, Inc., a North Carolina corporation and a direct wholly-owned subsidiary of the Registrant, Research Triangle Commerce, Inc., a North Carolina corporation ("RTCI"), and certain shareholders of RTCI. We have reviewed copies of the Registration Statement, the Plan, the Merger Agreement, the Amended and Restated Certificate of Incorporation, as amended, the By-laws of the Registrant, the resolutions of the Board of Directors of the Registrant that authorize the Merger Agreement and the transactions contemplated by the Merger Agreement, the adoption of the Plan and the filing of the Registration Statement and such other documents and records as we have deemed necessary to enable us to express an opinion on the matters covered hereby. In rendering this opinion, we have (a) assumed (i) the genuineness of all signatures on all documents examined by us, (ii) the authenticity of all documents submitted to us as originals and (iii) the conformity to original documents of all documents submitted to us as photostatic or conformed copies and the authenticity of the originals of such copies; and (b) relied on (i) representations, statements and certificates of public officials and others and (ii) as to matters of fact, statements, representations and certificates of officers and representatives of the Registrant. Based upon the foregoing, we are of the opinion that the shares of Class A Common Stock covered by the Registration Statement, when issued pursuant to the Merger Agreement and/or Plan and the agreements pursuant to which the options were granted thereunder and in accordance with the resolutions of the Board of Directors or the Compensation Securities and Exchange Commission November 6, 2000 Page 2 Committee of the Registrant authorizing the Plan and granting such options and upon receipt of the purchase price therefor pursuant to the terms of the relevant option agreements, will be validly issued, fully paid and non-assessable. We hereby consent to the use of this opinion as an exhibit to the Registration Statement. In giving the foregoing consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder. We are delivering this opinion to the Registrant, and no person other than the Registrant may rely upon it. Very truly yours, /s/ Kramer Levin Naftalis & Frankel LLP