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<TITLE>INTERNET COMMERCE CORPORATION</TITLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>As filed with the Securities and Exchange Commission on January&nbsp;18, 2006</B></DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Registration No.&nbsp;333-________</B>
</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, DC 20549</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B><FONT style="font-variant: SMALL-CAPS">Internet Commerce Corporation</FONT></B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact Name of Registrant as Specified in Its Charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B><BR>
(State or Other Jurisdiction of<BR>
Incorporation or Organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>13-3645702</B><BR>
(I.R.S. Employer<BR>
Identification Number)</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>6025 The Corners Parkway, Suite&nbsp;100<BR>
Norcross, Georgia 30092</B><BR>
(Address of Principal Executive Offices, Including Zip Code)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>INTERNET COMMERCE CORPORATION 2005 STOCK INCENTIVE PLAN</B></DIV>

<DIV align="center" style="font-size: 10pt">(Full title of the Plan)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center">
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    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Copy to:</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Glen E. Shipley<BR>
Chief Financial Officer<BR>
Internet Commerce Corporation<BR>
6025 The Corners Parkway, Suite&nbsp;100<BR>
Norcross, Georgia 30092<BR>
(678)&nbsp;533-8000</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Larry W. Shackelford, Esq.<BR>
Morris, Manning &#038; Martin, LLP<BR>
1600 Atlanta Financial Center<BR>
3343 Peachtree Road, N.E.<BR>
Atlanta, Georgia 30326<BR>
(404)&nbsp;233-7000</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Name, Address and Telephone Number,<BR>
Including Area Code, of Agent for Service.)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
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</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>CALCULATION OF REGISTRATION FEE</B></DIV>

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    <TD width="2%">&nbsp;</TD>
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    <TD width="5%">&nbsp;</TD>
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    <TD width="2%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Proposed Maximum</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Proposed Maximum</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center">Title of Securities</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Amount to be</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Offering Price</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Aggregate Offering</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Amount of</TD>
    <TD width="1%">&nbsp;</TD>
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<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center">to be Registered</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Registered (1)</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Per Share (2)</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Price</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Registration Fee</TD>
    <TD width="1%">&nbsp;</TD>
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                    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Class&nbsp;A Common
Stock, $0.01 par
value per share</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="center" style="border-top: 1px solid #000000" nowrap>2,000,000 shares</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">$</TD>
    <TD align="right" style="border-top: 1px solid #000000">2.84</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">$</TD>
    <TD align="right" style="border-top: 1px solid #000000">5,680,000</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">$</TD>
    <TD align="right" style="border-top: 1px solid #000000">607.76</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 4px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-top: 3px double #000000">&nbsp;</TD>
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<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
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<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>This Registration Statement also covers such indeterminable number of additional shares as
may be issued to prevent dilution in the event of a stock split, stock dividend,
reclassification or other similar transaction as permitted by Rule 416(a) and Rule 416(b)
under the Securities Act of 1933, as amended.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Computed solely for the purpose of determining the registration fee in accordance with Rule
457(c) and (h)&nbsp;of the Securities Act of 1933, as amended, based on the average high and low
prices of Class&nbsp;A Common Stock, as reported on the Nasdaq SmallCap Market on January&nbsp;17, 2006.</TD>
</TR>

</TABLE>



<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">








<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;6. Indemnification of Directors and Officers</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;9. Undertakings</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006"> SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007"> EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="g99222exv5w1.txt">EX-5.1 OPINION OF MORRIS, MANNING & MARTIN, LLP</A></TD></TR>
<TR><TD colspan="9"><A HREF="g99222exv23w1.txt">EX-23.1 CONSENT OF TAUBER & BALSER, P.C.</A></TD></TR>
<TR><TD colspan="9"><A HREF="g99222exv23w2.txt">EX-23.2 CONSENT OF DELOITTE & TOUCHE LLP</A></TD></TR>
</TABLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link1 "PART I" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing the information specified in Part&nbsp;I will be sent or given to
participants in the Plan as specified by Rule&nbsp;428(b)(1) of the Securities Act of 1933, as amended
(the &#147;Securities Act&#148;). In accordance with the instructions of Part&nbsp;I of Form S-8, these documents
will not be filed with the Securities and Exchange Commission (the &#147;Commission&#148;) either as part of
this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule&nbsp;424 of
the Securities Act. These documents and the documents incorporated by reference pursuant to Item&nbsp;3
of Part&nbsp;II of this Registration Statement, taken together, constitute the prospectus as required by
Section 10(a) of the Securities Act.
</DIV>
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<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></DIV>


<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents are incorporated herein by reference:
</DIV>

<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Registrant&#146;s Annual Report on Form 10-K for the year ended July&nbsp;31, 2005,
filed with the Commission on October&nbsp;31, 2005 (File No.&nbsp;000-24996);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Registrant&#146;s Quarterly Report on Form 10-Q for the quarter ended October
31, 2005, filed with the Commission on December&nbsp;13, 2005 (File No.&nbsp;000-24996);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Registrant&#146;s Current Reports on Form 8-K, filed with the Commission on
August&nbsp;19, 2005, September&nbsp;30, 2005, October&nbsp;17, 2005, October&nbsp;18, 2005, October&nbsp;26,
2005, November&nbsp;3, 2005, November&nbsp;23, 2005, December&nbsp;13, 2005, January&nbsp;10, 2006 and
January&nbsp;11, 2006 (File No.&nbsp;000-24996); and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the description of the Registrant&#146;s Class&nbsp;A Common Stock contained in the
Registrant&#146;s Rule&nbsp;424 prospectus filed with the Commission on June&nbsp;18, 1997, including
any amendments or reports filed for the purpose of updating the description.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents subsequently filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c), 14 and
15(d) of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), prior to the filing
of a post-effective amendment that indicates that all securities offered hereby have been sold or
that deregisters all such securities then remaining unsold, shall be deemed to be incorporated by
reference into this Registration Statement and to be a part hereof from the date of filing of such
documents.
</DIV>
<!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145 of the General Corporation Law of the State of Delaware (&#147;DGCL&#148;) provides that a
corporation may indemnify directors and officers as well as other employees and individuals against
expenses, including attorneys&#146; fees, judgments, fines and amounts paid in settlement in connection
with specified actions, suits, proceedings whether civil, criminal, administrative, or
investigative, other than action by or in the right of the corporation, known as a derivative
action, if they acted in good faith and in a manner they reasonably believed to be in or not
opposed to the best interests of the corporation and, with respect to any criminal action or
proceeding, had no reasonable cause to believe their conduct was unlawful. A similar standard is
applicable in the case of derivative actions, except that indemnification only extends to expenses,
including attorneys&#146; fees, incurred in connection with the defense or settlement of the action, and
the statute requires court approval before there can be any indemnification where the person
seeking indemnification has been found liable to the corporation. The statute provides that it is
not exclusive of other indemnification that may be granted by a corporation&#146;s certificate of
incorporation, bylaws, disinterested director vote, stockholder vote, agreement or otherwise.
Section&nbsp;145 thus makes
</DIV>

<P align="center" style="font-size: 10pt">2
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">provision for indemnification in terms sufficiently broad to cover officers and directors,
under certain circumstances, for liabilities arising under the Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;102(b)(7) of the DGCL permits a corporation to provide in its certificate of
incorporation that a director of the corporation shall not be personally liable to the corporation
or its stockholders for monetary damages for breach of fiduciary duty as a director, except for
liability for (i)&nbsp;any breach of the director&#146;s duty of loyalty to the corporation or its
stockholders, (ii)&nbsp;acts or omissions not in good faith or that involve intentional misconduct or a
knowing violation of law, (iii)&nbsp;payment of unlawful dividends or unlawful stock purchases or
redemptions, or (iv)&nbsp;any transaction from which the director derived an improper personal benefit.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;VII of the Registrant&#146;s Bylaws and Article&nbsp;Seventh of the Registrant&#146;s Amended and
Restated Certificate of Incorporation, as further amended, both provide that the Registrant shall
indemnify, to the fullest extent permitted by Section&nbsp;145 of the DGCL, each person that Section&nbsp;145
grants a corporation power to indemnify. The Registrant&#146;s Bylaws and Amended and Restated
Certificate of Incorporation, as further amended, further provide that no director shall be liable
to the Registrant or any of its stockholders for monetary damages for breach of fiduciary duty as a
director, except with respect to (i)&nbsp;a breach of the director&#146;s duty of loyalty to the Registrant
or its stockholders, (ii)&nbsp;acts or omissions not in good faith or which involve intentional
misconduct or a knowing violation of law, (iii)&nbsp;liability under Section&nbsp;174 of the DGCL, or (iv)&nbsp;a
transaction from which the director derived an improper personal benefit, and that it is the
intention of the foregoing provisions to eliminate the liability of the Registrant&#146;s directors to
the Registrant and its stockholders to the fullest extent permitted by Section&nbsp;102(b)(7) of the
DGCL.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant maintains an insurance policy insuring the Registrant and directors and
officers of the Registrant against certain liabilities, including liabilities under the Securities
Act.
</DIV>
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<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are filed with or incorporated by reference into this Registration
Statement pursuant to Item&nbsp;601 of Regulation&nbsp;S-K:
</DIV>
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<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Certificate for Class&nbsp;A Common Stock (incorporated by
reference from the Registration Statement on Form&nbsp;SB-2, as filed
with the Commission on September&nbsp;14, 1994 (Commission File No.
33-83940)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Class&nbsp;A Bridge Warrant issued in the 1998 bridge financing
(incorporated by reference from the Registration Statement on Form
S-3, as filed with the Commission on June&nbsp;4, 1999 (Commission File
No.&nbsp;333-80043)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Warrant Agreement dated January&nbsp;12, 2000, by and among the
Registrant and Cable and Wireless USA, Inc. (incorporated by
reference from Amendment No.&nbsp;1 to the Registration Statement on
Form&nbsp;S-3, as filed with the Commission on February&nbsp;8, 2000
(Commission File No.&nbsp;333-93301)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Registration Rights Agreement dated as of October&nbsp;29, 2001
by and among the Registrant and the purchasers identified therein
(incorporated by reference from the Current Report on Form&nbsp;8-K
dated April&nbsp;30, 2003, as filed with the Commission on May&nbsp;2, 2003
(Commission File No.&nbsp;000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Registration Rights Agreement dated as of October&nbsp;29, 2001 by and
between the Registrant and Amaranth Trading LLC (incorporated by
reference from the Registration Statement on Form&nbsp;S-3, as filed
with the Commission on August&nbsp;30, 2002 (Commission File No.
333-99059)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Class&nbsp;A Common Stock Warrant issued in the October&nbsp;29,
2001 private placement (incorporated by reference from the
Registration Statement on Form&nbsp;S-3, as filed with the Commission
on August&nbsp;30, 2002 (Commission File No.&nbsp;333-99059)).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">3
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.7
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Warrant Agreement issued in the April&nbsp;30, 2003 and May&nbsp;1,
2003 private placement (incorporated by reference from the Current
Report on Form&nbsp;8-K dated April&nbsp;30, 2003, as filed with the
Commission on May&nbsp;2, 2003 (Commission File No.&nbsp;000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.8
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Securities Purchase Agreement dated as of April&nbsp;15, 2004
by and among the Registrant and the purchasers named therein
(incorporated by reference from Current Report on Form&nbsp;8-K, as
filed with the Commission on April&nbsp;20, 2004 (Commission File No.
000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.9
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Warrant Agreement dated as of April&nbsp;20, 2004 (incorporated
by reference from the Current Report on Form&nbsp;8-K, as filed with
the Commission on April&nbsp;20, 2004 (Commission File No.
000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.10
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Registration Rights Agreement dated as of April&nbsp;20, 2004
by and among the Registrant and the purchasers named therein
(incorporated by reference from the Current Report on Form&nbsp;8-K, as
filed with the Commission on April&nbsp;20, 2004 (Commission File No.
000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.11
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Registration Rights Undertaking dated as of June&nbsp;22, 2004,
by the Registrant, in favor of the shareholders of Electronic
Commerce Systems, Inc. (incorporated by reference from Current
Report on Form&nbsp;8-K, as filed with the Commission on June&nbsp;22, 2004
(Commission File No.&nbsp;000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Morris, Manning &#038; Martin, LLP as to the legality of the
securities being registered.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Internet Commerce Corporation 2005 Stock Incentive Plan
(incorporated by reference to Annex B of the Company&#146;s Definitive
Proxy Statement on Schedule&nbsp;14A filed with the Securities and
Exchange Commission on November&nbsp;28, 2005 (File No.&nbsp;000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Stock Option Agreement under the Internet Commerce
Corporation 2005 Stock Incentive Plan (incorporated by reference
from Current Report on Form&nbsp;8-K dated January&nbsp;4, 2006, as filed
with the Commission on January&nbsp;10, 2006 (File No.&nbsp;000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Restricted Stock Agreement under the Internet Commerce
Corporation 2005 Stock Incentive Plan (incorporated by reference
from Current Report on Form&nbsp;8-K dated January&nbsp;4, 2006, as filed
with the Commission on January&nbsp;10, 2006 (File No.&nbsp;000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Tauber &#038; Balser, P.C.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Deloitte &#038; Touche LLP.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Morris, Manning &#038; Martin, LLP (included in Exhibit&nbsp;5.1).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (See signature page).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<!-- link2 "Item&nbsp;9. Undertakings" -->
<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings.</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned Registrant hereby undertakes:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any prospectus required by Section&nbsp;10(a)(3)
of the Securities Act;</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">4
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To reflect in the prospectus any facts or events
arising after the effective date of the Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth in
the Registration Statement; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any material information with respect to
the plan of distribution not previously disclosed in the Registration
Statement or any material change to such information in the Registration
Statement;</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>provided</I>, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in periodic
reports filed by the Registrant pursuant to Section&nbsp;13 or Section 15(d) of the Exchange Act that
are incorporated by reference in the Registration Statement.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To remove from registration by means of a post-effective
amendment any of the securities being registered that remain unsold at the
termination of the offering.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned Registrant hereby undertakes that, for purposes of determining
any liability under the Securities Act, each filing of the Registrant&#146;s annual report
pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by
reference in the Registration Statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Insofar as indemnification for liabilities arising under the Securities Act may
be permitted to directors, officers and controlling persons of the Registrant pursuant
to the foregoing provisions or otherwise, the Registrant has been advised that in the
opinion of the Commission such indemnification is against public policy as expressed in
the Securities Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the Registrant of
expenses incurred or paid by a director, officer or controlling person of the
Registrant in the successful defense of any action, suit or proceeding) is asserted by
such director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter has
been settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed
in the Securities Act and will be governed by the final adjudication of such issue.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">5
</DIV>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<!-- link1 " SIGNATURES " -->
<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Atlanta, State of Georgia, on this the 18th day of
January, 2006.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left" nowrap><B>INTERNET COMMERCE CORPORATION</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Glen E. Shipley
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Glen E. Shipley&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" nowrap>Chief Financial Officer and Corporate Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>POWER OF ATTORNEY</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and
appoints Thomas J. Stallings and Glen E. Shipley, and each of them individually, as his true and
lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and
in his name, place and stead, in any and all capacities, to sign a Registration Statement relating
to the registration of shares of Class&nbsp;A Common Stock on Form S-8 and to sign any and all
amendments (including post effective amendments) to the Registration Statement, and to file the
same, with all exhibits thereto and other documents in connection therewith, with the Securities
and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full
power and authority to do and perform each and every act and thing required or necessary to be done
in and about the premises, as fully to all intents and purposes as he might or could do in person,
hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or
their or his substitute, could lawfully do or cause to be done by virtue hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities indicated and on the dates indicated:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="43%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="16%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>
<TR style="font-size: 6pt"><TD>&nbsp;</TD></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Thomas J. Stallings
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Executive Officer and Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">January&nbsp;18, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Thomas J. Stallings
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;(Principal
Executive Officer)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Glen E. Shipley
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Financial Officer (Principal
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">January&nbsp;18, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Glen E. Shipley
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;Financial
and Accounting Officer)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Richard J. Berman
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">January&nbsp;18, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Richard J. Berman
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Donald R. Harkleroad
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Kim D. Cooke
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Paul D. Lapides
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">January&nbsp;18, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Paul D. Lapides
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Arthur R. Medici
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">January&nbsp;18, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Arthur R. Medici
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
John S. Simon
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">6
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 " EXHIBIT INDEX" -->
<DIV align="left"><A NAME="007"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Certificate for Class&nbsp;A Common Stock (incorporated by
reference from the Registration Statement on Form&nbsp;SB-2, as filed
with the Commission on September&nbsp;14, 1994 (Commission File No.
33-83940)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Class&nbsp;A Bridge Warrant issued in the 1998 bridge financing
(incorporated by reference from the Registration Statement on Form
S-3, as filed with the Commission on June&nbsp;4, 1999 (Commission File
No.&nbsp;333-80043)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Warrant Agreement dated January&nbsp;12, 2000, by and among the
Registrant and Cable and Wireless USA, Inc. (incorporated by
reference from Amendment No.&nbsp;1 to the Registration Statement on
Form&nbsp;S-3, as filed with the Commission on February&nbsp;8, 2000
(Commission File No.&nbsp;333-93301)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Registration Rights Agreement dated as of October&nbsp;29, 2001
by and among the Registrant and the purchasers identified therein
(incorporated by reference from the Current Report on Form&nbsp;8-K
dated April&nbsp;30, 2003, as filed with the Commission on May&nbsp;2, 2003
(Commission File No.&nbsp;000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Registration Rights Agreement dated as of October&nbsp;29, 2001 by and
between the Registrant and Amaranth Trading LLC (incorporated by
reference from the Registration Statement on Form&nbsp;S-3, as filed
with the Commission on August&nbsp;30, 2002 (Commission File No.
333-99059)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Class&nbsp;A Common Stock Warrant issued in the October&nbsp;29,
2001 private placement (incorporated by reference from the
Registration Statement on Form&nbsp;S-3, as filed with the Commission
on August&nbsp;30, 2002 (Commission File No.&nbsp;333-99059)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.7
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Warrant Agreement issued in the April&nbsp;30, 2003 and May&nbsp;1,
2003 private placement (incorporated by reference from the Current
Report on Form&nbsp;8-K dated April&nbsp;30, 2003, as filed with the
Commission on May&nbsp;2, 2003 (Commission File No.&nbsp;000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.8
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Securities Purchase Agreement dated as of April&nbsp;15, 2004
by and among the Registrant and the purchasers named therein
(incorporated by reference from Current Report on Form&nbsp;8-K, as
filed with the Commission on April&nbsp;20, 2004 (Commission File No.
000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.9
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Warrant Agreement dated as of April&nbsp;20, 2004 (incorporated
by reference from the Current Report on Form&nbsp;8-K, as filed with
the Commission on April&nbsp;20, 2004 (Commission File No.&nbsp;000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.10
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Registration Rights Agreement dated as of April&nbsp;20, 2004
by and among the Registrant and the purchasers named therein
(incorporated by reference from the Current Report on Form&nbsp;8-K, as
filed with the Commission on April&nbsp;20, 2004 (Commission File No.
000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.11
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Registration Rights Undertaking dated as of June&nbsp;22, 2004,
by the Registrant, in favor of the shareholders of Electronic
Commerce Systems, Inc. (incorporated by reference from Current
Report on Form&nbsp;8-K, as filed with the Commission on June&nbsp;22, 2004
(Commission File No.&nbsp;000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Morris, Manning &#038; Martin, LLP as to the legality of the
securities being registered.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Internet Commerce Corporation 2005 Stock Incentive Plan
(incorporated by reference to Annex B of the Company&#146;s Definitive
Proxy Statement on Schedule&nbsp;14A filed with the Securities and
Exchange Commission on November&nbsp;28, 2005 (File No.&nbsp;000-24996)).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Stock Option Agreement under the Internet Commerce
Corporation 2005 Stock Incentive Plan (incorporated by reference
from Current Report on Form&nbsp;8-K dated January&nbsp;4, 2006, as filed
with the Commission on January&nbsp;10, 2006 (File No.&nbsp;000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Restricted Stock Agreement under the Internet Commerce
Corporation 2005 Stock Incentive Plan (incorporated by reference
from Current Report on Form&nbsp;8-K dated January&nbsp;4, 2006, as filed
with the Commission on January&nbsp;10, 2006 (File No.&nbsp;000-24996)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Tauber &#038; Balser, P.C.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Deloitte &#038; Touche LLP.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Morris, Manning &#038; Martin, LLP (included in Exhibit&nbsp;5.1).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (See signature page).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

</BODY>
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INTERNET COMMERCE CORPORATION
Table of Contents
As filed with the Securities and Exchange Commission on January 18, 2006
Registration No. 333-________
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Internet Commerce Corporation
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of
Incorporation or Organization)
13-3645702
(I.R.S. Employer
Identification Number)
6025 The Corners Parkway, Suite 100
Norcross, Georgia 30092
(Address of Principal Executive Offices, Including Zip Code)
INTERNET COMMERCE CORPORATION 2005 STOCK INCENTIVE PLAN
(Full title of the Plan)
Copy to:
Glen E. Shipley
Chief Financial Officer
Internet Commerce Corporation
6025 The Corners Parkway, Suite 100
Norcross, Georgia 30092
(678) 533-8000
Larry W. Shackelford, Esq.
Morris, Manning & Martin, LLP
1600 Atlanta Financial Center
3343 Peachtree Road, N.E.
Atlanta, Georgia 30326
(404) 233-7000
(Name, Address and Telephone Number,
Including Area Code, of Agent for Service.)
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Title of Securities
Amount to be
Offering Price
Aggregate Offering
Amount of
to be Registered
Registered (1)
Per Share (2)
Price
Registration Fee
Class A Common
Stock, $0.01 par
value per share
2,000,000 shares
$
2.84
$
5,680,000
$
607.76
(1)
This Registration Statement also covers such indeterminable number of additional shares as
may be issued to prevent dilution in the event of a stock split, stock dividend,
reclassification or other similar transaction as permitted by Rule 416(a) and Rule 416(b)
under the Securities Act of 1933, as amended.
(2)
Computed solely for the purpose of determining the registration fee in accordance with Rule
457(c) and (h) of the Securities Act of 1933, as amended, based on the average high and low
prices of Class A Common Stock, as reported on the Nasdaq SmallCap Market on January 17, 2006.
TABLE OF CONTENTS
PART I
PART II
Item 3. Incorporation of Documents by Reference
Item 6. Indemnification of Directors and Officers
Item 8. Exhibits
Item 9. Undertakings
SIGNATURES
EXHIBIT INDEX
EX-5.1 OPINION OF MORRIS, MANNING & MARTIN, LLP
EX-23.1 CONSENT OF TAUBER & BALSER, P.C.
EX-23.2 CONSENT OF DELOITTE & TOUCHE LLP
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information specified in Part I will be sent or given to
participants in the Plan as specified by Rule 428(b)(1) of the Securities Act of 1933, as amended
(the "Securities Act"). In accordance with the instructions of Part I of Form S-8, these documents
will not be filed with the Securities and Exchange Commission (the "Commission") either as part of
this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of
the Securities Act. These documents and the documents incorporated by reference pursuant to Item 3
of Part II of this Registration Statement, taken together, constitute the prospectus as required by
Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents are incorporated herein by reference:
(a)
the Registrant's Annual Report on Form 10-K for the year ended July 31, 2005,
filed with the Commission on October 31, 2005 (File No. 000-24996);
(b)
the Registrant's Quarterly Report on Form 10-Q for the quarter ended October
31, 2005, filed with the Commission on December 13, 2005 (File No. 000-24996);
(c)
the Registrant's Current Reports on Form 8-K, filed with the Commission on
August 19, 2005, September 30, 2005, October 17, 2005, October 18, 2005, October 26,
2005, November 3, 2005, November 23, 2005, December 13, 2005, January 10, 2006 and
January 11, 2006 (File No. 000-24996); and
(d)
the description of the Registrant's Class A Common Stock contained in the
Registrant's Rule 424 prospectus filed with the Commission on June 18, 1997, including
any amendments or reports filed for the purpose of updating the description.
All documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and
15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), prior to the filing
of a post-effective amendment that indicates that all securities offered hereby have been sold or
that deregisters all such securities then remaining unsold, shall be deemed to be incorporated by
reference into this Registration Statement and to be a part hereof from the date of filing of such
documents.
Item 6. Indemnification of Directors and Officers.
Section 145 of the General Corporation Law of the State of Delaware ("DGCL") provides that a
corporation may indemnify directors and officers as well as other employees and individuals against
expenses, including attorneys' fees, judgments, fines and amounts paid in settlement in connection
with specified actions, suits, proceedings whether civil, criminal, administrative, or
investigative, other than action by or in the right of the corporation, known as a derivative
action, if they acted in good faith and in a manner they reasonably believed to be in or not
opposed to the best interests of the corporation and, with respect to any criminal action or
proceeding, had no reasonable cause to believe their conduct was unlawful. A similar standard is
applicable in the case of derivative actions, except that indemnification only extends to expenses,
including attorneys' fees, incurred in connection with the defense or settlement of the action, and
the statute requires court approval before there can be any indemnification where the person
seeking indemnification has been found liable to the corporation. The statute provides that it is
not exclusive of other indemnification that may be granted by a corporation's certificate of
incorporation, bylaws, disinterested director vote, stockholder vote, agreement or otherwise.
Section 145 thus makes
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provision for indemnification in terms sufficiently broad to cover officers and directors,
under certain circumstances, for liabilities arising under the Securities Act.
Section 102(b)(7) of the DGCL permits a corporation to provide in its certificate of
incorporation that a director of the corporation shall not be personally liable to the corporation
or its stockholders for monetary damages for breach of fiduciary duty as a director, except for
liability for (i) any breach of the director's duty of loyalty to the corporation or its
stockholders, (ii) acts or omissions not in good faith or that involve intentional misconduct or a
knowing violation of law, (iii) payment of unlawful dividends or unlawful stock purchases or
redemptions, or (iv) any transaction from which the director derived an improper personal benefit.
Article VII of the Registrant's Bylaws and Article Seventh of the Registrant's Amended and
Restated Certificate of Incorporation, as further amended, both provide that the Registrant shall
indemnify, to the fullest extent permitted by Section 145 of the DGCL, each person that Section 145
grants a corporation power to indemnify. The Registrant's Bylaws and Amended and Restated
Certificate of Incorporation, as further amended, further provide that no director shall be liable
to the Registrant or any of its stockholders for monetary damages for breach of fiduciary duty as a
director, except with respect to (i) a breach of the director's duty of loyalty to the Registrant
or its stockholders, (ii) acts or omissions not in good faith or which involve intentional
misconduct or a knowing violation of law, (iii) liability under Section 174 of the DGCL, or (iv) a
transaction from which the director derived an improper personal benefit, and that it is the
intention of the foregoing provisions to eliminate the liability of the Registrant's directors to
the Registrant and its stockholders to the fullest extent permitted by Section 102(b)(7) of the
DGCL.
The Registrant maintains an insurance policy insuring the Registrant and directors and
officers of the Registrant against certain liabilities, including liabilities under the Securities
Act.
Item 8. Exhibits.
The following exhibits are filed with or incorporated by reference into this Registration
Statement pursuant to Item 601 of Regulation S-K:
Exhibit No.
Description
4.1
Specimen Certificate for Class A Common Stock (incorporated by
reference from the Registration Statement on Form SB-2, as filed
with the Commission on September 14, 1994 (Commission File No.
33-83940)).
4.2
Form of Class A Bridge Warrant issued in the 1998 bridge financing
(incorporated by reference from the Registration Statement on Form
S-3, as filed with the Commission on June 4, 1999 (Commission File
No. 333-80043)).
4.3
Warrant Agreement dated January 12, 2000, by and among the
Registrant and Cable and Wireless USA, Inc. (incorporated by
reference from Amendment No. 1 to the Registration Statement on
Form S-3, as filed with the Commission on February 8, 2000
(Commission File No. 333-93301)).
4.4
Form of Registration Rights Agreement dated as of October 29, 2001
by and among the Registrant and the purchasers identified therein
(incorporated by reference from the Current Report on Form 8-K
dated April 30, 2003, as filed with the Commission on May 2, 2003
(Commission File No. 000-24996)).
4.5
Registration Rights Agreement dated as of October 29, 2001 by and
between the Registrant and Amaranth Trading LLC (incorporated by
reference from the Registration Statement on Form S-3, as filed
with the Commission on August 30, 2002 (Commission File No.
333-99059)).
4.6
Form of Class A Common Stock Warrant issued in the October 29,
2001 private placement (incorporated by reference from the
Registration Statement on Form S-3, as filed with the Commission
on August 30, 2002 (Commission File No. 333-99059)).
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Exhibit No.
Description
4.7
Form of Warrant Agreement issued in the April 30, 2003 and May 1,
2003 private placement (incorporated by reference from the Current
Report on Form 8-K dated April 30, 2003, as filed with the
Commission on May 2, 2003 (Commission File No. 000-24996)).
4.8
Form of Securities Purchase Agreement dated as of April 15, 2004
by and among the Registrant and the purchasers named therein
(incorporated by reference from Current Report on Form 8-K, as
filed with the Commission on April 20, 2004 (Commission File No.
000-24996)).
4.9
Form of Warrant Agreement dated as of April 20, 2004 (incorporated
by reference from the Current Report on Form 8-K, as filed with
the Commission on April 20, 2004 (Commission File No.
000-24996)).
4.10
Form of Registration Rights Agreement dated as of April 20, 2004
by and among the Registrant and the purchasers named therein
(incorporated by reference from the Current Report on Form 8-K, as
filed with the Commission on April 20, 2004 (Commission File No.
000-24996)).
4.11
Form of Registration Rights Undertaking dated as of June 22, 2004,
by the Registrant, in favor of the shareholders of Electronic
Commerce Systems, Inc. (incorporated by reference from Current
Report on Form 8-K, as filed with the Commission on June 22, 2004
(Commission File No. 000-24996)).
5.1
Opinion of Morris, Manning & Martin, LLP as to the legality of the
securities being registered.
10.1
Internet Commerce Corporation 2005 Stock Incentive Plan
(incorporated by reference to Annex B of the Company's Definitive
Proxy Statement on Schedule 14A filed with the Securities and
Exchange Commission on November 28, 2005 (File No. 000-24996)).
10.2
Form of Stock Option Agreement under the Internet Commerce
Corporation 2005 Stock Incentive Plan (incorporated by reference
from Current Report on Form 8-K dated January 4, 2006, as filed
with the Commission on January 10, 2006 (File No. 000-24996)).
10.3
Form of Restricted Stock Agreement under the Internet Commerce
Corporation 2005 Stock Incentive Plan (incorporated by reference
from Current Report on Form 8-K dated January 4, 2006, as filed
with the Commission on January 10, 2006 (File No. 000-24996)).
23.1
Consent of Tauber & Balser, P.C.
23.2
Consent of Deloitte & Touche LLP.
23.3
Consent of Morris, Manning & Martin, LLP (included in Exhibit 5.1).
24.1
Power of Attorney (See signature page).
Item 9. Undertakings.
(a)
The undersigned Registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement:
(i)
To include any prospectus required by Section 10(a)(3)
of the Securities Act;
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(ii)
To reflect in the prospectus any facts or events
arising after the effective date of the Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth in
the Registration Statement; and
(iii)
To include any material information with respect to
the plan of distribution not previously disclosed in the Registration
Statement or any material change to such information in the Registration
Statement;
provided
, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in periodic
reports filed by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that
are incorporated by reference in the Registration Statement.
(2)
That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(3)
To remove from registration by means of a post-effective
amendment any of the securities being registered that remain unsold at the
termination of the offering.
(b)
The undersigned Registrant hereby undertakes that, for purposes of determining
any liability under the Securities Act, each filing of the Registrant's annual report
pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by
reference in the Registration Statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.
(c)
Insofar as indemnification for liabilities arising under the Securities Act may
be permitted to directors, officers and controlling persons of the Registrant pursuant
to the foregoing provisions or otherwise, the Registrant has been advised that in the
opinion of the Commission such indemnification is against public policy as expressed in
the Securities Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the Registrant of
expenses incurred or paid by a director, officer or controlling person of the
Registrant in the successful defense of any action, suit or proceeding) is asserted by
such director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter has
been settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed
in the Securities Act and will be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Atlanta, State of Georgia, on this the 18th day of
January, 2006.
INTERNET COMMERCE CORPORATION
By:
/s/ Glen E. Shipley
Glen E. Shipley
Chief Financial Officer and Corporate Secretary
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and
appoints Thomas J. Stallings and Glen E. Shipley, and each of them individually, as his true and
lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and
in his name, place and stead, in any and all capacities, to sign a Registration Statement relating
to the registration of shares of Class A Common Stock on Form S-8 and to sign any and all
amendments (including post effective amendments) to the Registration Statement, and to file the
same, with all exhibits thereto and other documents in connection therewith, with the Securities
and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full
power and authority to do and perform each and every act and thing required or necessary to be done
in and about the premises, as fully to all intents and purposes as he might or could do in person,
hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or
their or his substitute, could lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities indicated and on the dates indicated:
Signature
Title
Date
/s/ Thomas J. Stallings
Chief Executive Officer and Director
January 18, 2006
Thomas J. Stallings
(Principal
Executive Officer)
/s/ Glen E. Shipley
Chief Financial Officer (Principal
January 18, 2006
Glen E. Shipley
Financial
and Accounting Officer)
/s/ Richard J. Berman
Director
January 18, 2006
Richard J. Berman
Director
Donald R. Harkleroad
Director
Kim D. Cooke
/s/ Paul D. Lapides
Director
January 18, 2006
Paul D. Lapides
/s/ Arthur R. Medici
Director
January 18, 2006
Arthur R. Medici
Director
John S. Simon
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EXHIBIT INDEX
Exhibit No.
Description
4.1
Specimen Certificate for Class A Common Stock (incorporated by
reference from the Registration Statement on Form SB-2, as filed
with the Commission on September 14, 1994 (Commission File No.
33-83940)).
4.2
Form of Class A Bridge Warrant issued in the 1998 bridge financing
(incorporated by reference from the Registration Statement on Form
S-3, as filed with the Commission on June 4, 1999 (Commission File
No. 333-80043)).
4.3
Warrant Agreement dated January 12, 2000, by and among the
Registrant and Cable and Wireless USA, Inc. (incorporated by
reference from Amendment No. 1 to the Registration Statement on
Form S-3, as filed with the Commission on February 8, 2000
(Commission File No. 333-93301)).
4.4
Form of Registration Rights Agreement dated as of October 29, 2001
by and among the Registrant and the purchasers identified therein
(incorporated by reference from the Current Report on Form 8-K
dated April 30, 2003, as filed with the Commission on May 2, 2003
(Commission File No. 000-24996)).
4.5
Registration Rights Agreement dated as of October 29, 2001 by and
between the Registrant and Amaranth Trading LLC (incorporated by
reference from the Registration Statement on Form S-3, as filed
with the Commission on August 30, 2002 (Commission File No.
333-99059)).
4.6
Form of Class A Common Stock Warrant issued in the October 29,
2001 private placement (incorporated by reference from the
Registration Statement on Form S-3, as filed with the Commission
on August 30, 2002 (Commission File No. 333-99059)).
4.7
Form of Warrant Agreement issued in the April 30, 2003 and May 1,
2003 private placement (incorporated by reference from the Current
Report on Form 8-K dated April 30, 2003, as filed with the
Commission on May 2, 2003 (Commission File No. 000-24996)).
4.8
Form of Securities Purchase Agreement dated as of April 15, 2004
by and among the Registrant and the purchasers named therein
(incorporated by reference from Current Report on Form 8-K, as
filed with the Commission on April 20, 2004 (Commission File No.
000-24996)).
4.9
Form of Warrant Agreement dated as of April 20, 2004 (incorporated
by reference from the Current Report on Form 8-K, as filed with
the Commission on April 20, 2004 (Commission File No. 000-24996)).
4.10
Form of Registration Rights Agreement dated as of April 20, 2004
by and among the Registrant and the purchasers named therein
(incorporated by reference from the Current Report on Form 8-K, as
filed with the Commission on April 20, 2004 (Commission File No.
000-24996)).
4.11
Form of Registration Rights Undertaking dated as of June 22, 2004,
by the Registrant, in favor of the shareholders of Electronic
Commerce Systems, Inc. (incorporated by reference from Current
Report on Form 8-K, as filed with the Commission on June 22, 2004
(Commission File No. 000-24996)).
5.1
Opinion of Morris, Manning & Martin, LLP as to the legality of the
securities being registered.
10.1
Internet Commerce Corporation 2005 Stock Incentive Plan
(incorporated by reference to Annex B of the Company's Definitive
Proxy Statement on Schedule 14A filed with the Securities and
Exchange Commission on November 28, 2005 (File No. 000-24996)).
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Exhibit No.
Description
10.2
Form of Stock Option Agreement under the Internet Commerce
Corporation 2005 Stock Incentive Plan (incorporated by reference
from Current Report on Form 8-K dated January 4, 2006, as filed
with the Commission on January 10, 2006 (File No. 000-24996)).
10.3
Form of Restricted Stock Agreement under the Internet Commerce
Corporation 2005 Stock Incentive Plan (incorporated by reference
from Current Report on Form 8-K dated January 4, 2006, as filed
with the Commission on January 10, 2006 (File No. 000-24996)).
23.1
Consent of Tauber & Balser, P.C.
23.2
Consent of Deloitte & Touche LLP.
23.3
Consent of Morris, Manning & Martin, LLP (included in Exhibit 5.1).
24.1
Power of Attorney (See signature page).