Document:

Exhibit
10.4

 

CANCELLATION
AND EXCHANGE AGREEMENT

 

THIS
CANCELLATION AND EXCHANGE AGREEMENT (this “Agreement”), is entered into effective as of May 15, 2019, among
Gadsden Growth Properties, Inc., a Maryland corporation (“Gadsden”), FC Global Realty Incorporated, a Nevada
corporation (“FC Global”), and the stockholders of Gadsden identified on Schedule A to this Agreement
(each a “Stockholder” and, collectively the “Stockholders”).

 

RECITALS

 

A.           Gadsden
previously issued to the Stockholders the type, series and number of shares of Gadsden capital stock identified on Schedule A
(“the “Gadsden Shares”).

 

B.            On
March 13, 2019, FC Global entered into a Stock Purchase Agreement with Gadsden, pursuant to which Gadsden agreed to transfer and
assign to FC Global all of its general partnership interests and Class A limited partnership interests in Gadsden Growth Properties,
L.P. in exchange for shares of the capital stock of FC Global (the “FC Global Shares”).

 

D.           At
the request of Gadsden, FC Global desires to issue to each of the Stockholders the number of shares of FC Global Common Stock
(the “New FC Global Shares”) set forth opposite such Stockholder’s name on Schedule A in consideration
for (i) the cancellation by each such Stockholder of the Gadsden Shares identified as being cancelled by each such Stockholder
on Schedule A and (ii) the cancellation by Gadsden of the type, series and number of FC Global Shares identified as being
cancelled by Gadsden on Schedule A.

 

AGREEMENT

 

NOW
THEREFORE, in consideration of the mutual covenants and agreements contained herein and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the undersigned do hereby agree as follows:

 

1.             Cancellation
of Gadsden Shares. Each Stockholder hereby agrees to surrender the Gadsden Shares set forth opposite such Stockholder’s
name on Schedule A to Gadsden free and clear of all claims, charges, liens, contracts, rights, options, security interests,
mortgages, encumbrances and restrictions of every kind and nature, in each case, to the extent incurred by each such Stockholder
or any of its assignees (collectively, “Claims”) for cancellation concurrently with, and against delivery of,
the issuance of the number of New FC Global Shares set forth opposite each such Stockholders name on Schedule A (it being
acknowledged that any rights of Gadsden to or with respect to any of the Gadsden Shares other than under this Agreement, shall
not be a “Claim”). After such cancellation and receipt of the New FC Global Shares by each Stockholder or its assignees,
each Stockholder acknowledges and agrees that all such Gadsden Shares shall no longer be outstanding, and no Stockholder shall
have any further rights with respect to the Gadsden Shares or the equity ownership in Gadsden represented thereby. At the request
of Gadsden and without further consideration, each Stockholder will execute and deliver such other instruments of sale, transfer,
conveyance, assignment and confirmation as may be reasonably requested in order to effectively transfer, convey and assign the
Gadsden Shares to Gadsden for cancellation.

 

2.             Cancellation
of FC Global Shares. Gadsden hereby agrees to surrender the type, series and number of FC Global Shares set forth opposite
Gadsden’s name on Schedule A to FC Global free and clear of all claims, charges, liens, contracts, rights, options,
security interests, mortgages, encumbrances and restrictions of every kind and nature, in each case, to the extent incurred by
each such Stockholder or any of its assignees (collectively, “Claims”) for cancellation concurrently with,
and against delivery of, the issuance of the New FC Global Shares to the Stockholders as provided for in Section 1 of this Agreement
(it being acknowledged that any rights of FC Global to or with respect to any of the FC Global Shares other than under this Agreement,
shall not be a “Claim”). After such cancellation and receipt by the Stockholders of the New FC Global Shares as provided
for in Section 1 of this Agreement, Gadsden acknowledges and agrees that all such FC Global Shares identified on Schedule A
as being cancelled shall no longer be outstanding, and Gadsden shall not have any further rights with respect such FC Global
Shares or the equity ownership in FC Global represented thereby. At the request of FC Global and without further consideration,
Gadsden will execute and deliver such other instruments of sale, transfer, conveyance, assignment and confirmation as may be reasonably
requested in order to effectively transfer, convey and assign the FC Global Shares identified on Schedule A as being cancelled
to Gadsden for cancellation.

 

     

     

    

 

3.             Issuance
of New FC Global Shares. As soon as practicable following the date hereof, FC Global shall issue to the Stockholders the number
of New FC Global Shares set forth opposite each Stockholder’s name on Schedule A. Each Stockholder acknowledges that
the New FC Global Shares constitute restricted shares and will contain a customary legend referring to transfer restrictions under
the Securities Act of 1933, as amended (the “Securities Act”). FC Global represents and warrants to the Stockholders
that, upon issuance of the New FC Global Shares in accordance with this Agreement, the New FC Global Shares will be duly issued,
fully paid and nonassessable.

 

4.            Representations
and Warranties of each of the Stockholders. Each of the Stockholders represents and warrants to Gadsden and FC Global as follows.

 

(a)       Such
Stockholder is a limited liability company, limited partnership or corporation, as applicable, that is validly existing and in
good standing under the laws of its jurisdiction of organization. Such Stockholder has the requisite power and authority to execute
and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated by this Agreement.
The execution, delivery and performance by such Stockholder of this Agreement and the consummation by such Stockholder of the
transactions contemplated hereby have been duly authorized by all necessary action on the part of such Stockholder and no other
action is necessary on the part of such Stockholder to authorize this Agreement or to consummate the transactions contemplated
hereby. This Agreement has been duly executed and delivered by such Stockholder and, assuming the due authorization, execution
and delivery by Gadsden and FC Global, constitutes a legal, valid and binding obligation of such Stockholder, enforceable against
such Stockholder in accordance with its terms, except as limited by (i) bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance or other similar laws relating to creditors’ rights generally and (ii) general principles of equity, whether
such enforceability is considered in a proceeding in equity or at law.

 

(b)       Such
Stockholder owns the type, series and number of Gadsden Shares set forth opposite such Stockholder’s name on Schedule A
beneficially and of record, free and clear of all Claims other than Claims in favor of Gadsden or any assignee of Gadsden under
this Agreement or otherwise. Such Stockholder has never transferred or agreed to transfer its Gadsden Shares, other than pursuant
to this Agreement. There is no restriction affecting the ability of such Stockholder to transfer the legal and beneficial title
and ownership of such Gadsden Shares to Gadsden for cancellation other than restrictions, if any, in favor of Gadsden or any assignee
of Gadsden.

 

(c)       Neither
the execution and the delivery of this Agreement, nor the consummation of the transactions contemplated hereby, will conflict
with, result in a breach of, constitute a default under, result in the acceleration of, create in any party the right to accelerate,
terminate, modify or cancel, or require any notice under any agreement, contract, lease, license, instrument or other arrangement
to which such Stockholder is a party or by which it is bound or to which any of its assets is subject.

 

    2 

     

    

 

(d)       The
execution and delivery of this Agreement by such Stockholder does not, and the performance of this Agreement by such Stockholder
will not, require any consent, approval, authorization or permit of, or filing with or notification to, any governmental entity.

 

(e)       Such
Stockholder acknowledges that it is a sophisticated individual familiar with transactions similar to those contemplated by this
Agreement and is aware of FC Global’s business, affairs and financial condition and has received all the information that
it considers material, necessary or appropriate in determining whether to exchange its Gadsden Shares for the New FC Global Shares
(the “Exchange”) and further acknowledges that such information is sufficient to allow such Stockholder to
reach an informed decision to complete the Exchange. Such Stockholder hereby represents that it has had an opportunity to ask
questions and receive answers from FC Global and its employees regarding the business, properties, prospects and financial condition
of FC Global, including, without limitation, any strategic transaction, public securities offering, private financing transaction
(whether equity or debt), merger, consolidation, recapitalization, reclassification, reorganization, change of control transaction,
sale of assets or securities, liquidation or similar transaction which have been, are being or may be contemplated by FC Global.
Such Stockholder acknowledges that neither Gadsden, FC Global, nor any of their respective affiliates is acting as a fiduciary
or financial or investment adviser to such Stockholder for purposes of the Exchange, and has not given such Stockholder any investment
advice, opinion or other information on whether the Exchange is prudent.

 

(f)        Such
Stockholder is an “accredited investor” as such term is defined in Regulation D promulgated under the Securities Act.

 

(g)       At
no time was such Stockholder presented with or solicited by any publicly issued or circulated form of general advertising or solicitation
in connection with the Exchange.

 

(h)       The
Gadsden Shares held bus such Stockholder have been authorized and outstanding for at least ninety (90) days prior to the date
hereof.

 

(i)        Neither
such Stockholder nor any person that has been or will be paid (directly or indirectly) remuneration or a commission for their
participation in the Exchange, is subject to an event that would disqualify an issuer or other covered person under Rule 506(d)(1)
of Regulation D (17 CFR 230.506(d)(1)) or is subject to a statutory disqualification under section 3(a)(39) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”).

 

(j)        The
transactions contemplated by this Agreement are not with respect to a security that constitutes the whole or part of an unsold
allotment to, or a subscription or participation by, a broker or dealer as an underwriter of the security or a redistribution.

 

(k)       Neither
such Stockholder, nor any person acting on such Stockholder’s behalf, offered or sold the Gadsden Shares held by it by any
form of general solicitation or advertising.

 

(l)        Such
Stockholder is acquiring the New FC Global Shares for its own account for investment purposes only and not with a view to, or
for the resale in connection with, any “distribution” thereof for purposes of the Securities Act in violation of securities
laws. Such Stockholder has no present intention of selling or otherwise disposing of all or any portion of the New FC Global Shares.

 

(m)       Such
Stockholder understands that the New FC Global Shares are characterized as “restricted securities” under the federal
securities laws and that under such laws and applicable regulations such securities may be resold without registration under the
Securities Act, only in certain limited circumstances. It understands that the New FC Global Shares must be held indefinitely
unless subsequently registered under the Securities Act or unless an exemption from registration is otherwise available. In this
connection, such Stockholder represents that it is familiar with Rule 144, as presently in effect, and understands the resale
limitations imposed thereby and by the Securities Act. In addition, it understands that the certificates evidencing the New FC
Global Shares, if any, will be imprinted with a legend which prohibits the transfer of the New FC Global Shares unless they are
registered or such registration is not required in an opinion of counsel reasonably acceptable to New FC Global.

 

    3 

     

    

 

(n)       By
reason of its business or financial experience, such Stockholder is capable of evaluating the merits and risks of the Exchange,
has the ability to protect the Stockholder’s own interests in this transaction and is financially capable of bearing a total
loss of the New FC Global Shares.

 

(o)       Such
Stockholder acknowledges that FC Global is a public reporting company subject to Section 13 of the Exchange Act and such Stockholder
has reviewed the reports and other documents filed by FC Global with the Securities and Exchange Commission.

 

(p)       Such
Stockholder acknowledges that FC Global is engaged in business, is not in the organizational stage or in bankruptcy or receivership,
is not a blank check, blind pool, or shell company that has no specific business plan or purpose or has indicated that its primary
business plan is to engage in a merger or combination of the business, with or an acquisition of, an unidentified person.

 

5.            Representations
and Warranties of FC Global. FC Global represents and warrants to the Stockholder and Gadsden and as follows.

 

(a)       FC
Global is a corporation that is validly existing and in good standing under the laws of its state of Nevada. FC Global has the
requisite power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the
transactions contemplated by this Agreement. The execution, delivery and performance by FC Global of this Agreement and the consummation
by FC Global of the transactions contemplated hereby have been duly authorized by all necessary action on the part of FC Global
and no other action is necessary on the part of FC Global to authorize this Agreement or to consummate the transactions contemplated
hereby. This Agreement has been duly executed and delivered by FC Global and, assuming the due authorization, execution and delivery
by the Stockholder and Gadsden, constitutes a legal, valid and binding obligation of FC Global, enforceable against FC Global
in accordance with its terms, except as limited by (i) bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance
or other similar laws relating to creditors’ rights generally and (ii) general principles of equity, whether such enforceability
is considered in a proceeding in equity or at law.

 

(b)       Neither
the execution and the delivery of this Agreement, nor the consummation of the transactions contemplated hereby, will conflict
with, result in a breach of, constitute a default under, result in the acceleration of, create in any party the right to accelerate,
terminate, modify or cancel, or require any notice under any agreement, contract, lease, license, instrument or other arrangement
to which FC Global is a party or by which it is bound or to which any of its assets is subject.

 

(c)       The
execution and delivery of this Agreement by FC Global does not, and the performance of this Agreement by FC Global will not, require
any consent, approval, authorization or permit of, or filing with or notification to, any governmental entity.

 

(d)       FC
Global is a public reporting company subject to Section 13 of the Exchange Act.

 

    4 

     

    

 

6.            Representations
and Warranties of Gadsden. Gadsden represents and warrants to the Stockholder and FC Global and as follows.

 

(a)       Gadsden
is a corporation that is validly existing and in good standing under the laws of its state of Maryland. Gadsden has the requisite
power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions
contemplated by this Agreement. The execution, delivery and performance by Gadsden of this Agreement and the consummation by Gadsden
of the transactions contemplated hereby have been duly authorized by all necessary action on the part of Gadsden and no other
action is necessary on the part of Gadsden to authorize this Agreement or to consummate the transactions contemplated hereby.
This Agreement has been duly executed and delivered by Gadsden and, assuming the due authorization, execution and delivery by
the Stockholder and FC Global, constitutes a legal, valid and binding obligation of Gadsden, enforceable against Gadsden in accordance
with its terms, except as limited by (i) bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other similar
laws relating to creditors’ rights generally and (ii) general principles of equity, whether such enforceability is considered
in a proceeding in equity or at law.

 

(b)       Neither
the execution and the delivery of this Agreement, nor the consummation of the transactions contemplated hereby, will conflict
with, result in a breach of, constitute a default under, result in the acceleration of, create in any party the right to accelerate,
terminate, modify or cancel, or require any notice under any agreement, contract, lease, license, instrument or other arrangement
to which Gadsden is a party or by which it is bound or to which any of its assets is subject.

 

(c)       The
execution and delivery of this Agreement by Gadsden does not, and the performance of this Agreement by Gadsden will not, require
any consent, approval, authorization or permit of, or filing with or notification to, any governmental entity.

 

7.             Miscellaneous.

 

(a)       This
Agreement contains the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements,
understandings, discussions and representations, oral or written, with respect to such matters, which the parties acknowledge
have been merged into such documents, exhibits and schedules.

 

(b)       No
provision of this Agreement may be waived or amended except in a written instrument signed, in the case of an amendment, by Gadsden,
FC Global and the Stockholders, in the case of a waiver, by the party against whom enforcement of any such waiver is sought. No
waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing
waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof,
nor shall any delay or omission of either party to exercise any right hereunder in any manner impair the exercise of any such
right.

 

(d)       The
headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect
any of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party. This Agreement shall be construed
as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue
of the authorship of any provisions of this Agreement.

 

    5 

     

    

 

(f)       This
Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for
the benefit of, nor may any provision hereof be enforced by, any other person.

 

(g)       This
Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the laws
of the State of Maryland without regard to the principles of the conflict of laws of Maryland.

 

(h)       This
Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic
signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart
so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

(i)         If
any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the
remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt
to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon so agreeing, shall incorporate
such substitute provision in this Agreement.

 

[Signature
Page Follows]

 

    6 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Cancellation and Exchange Agreement to be executed as of the date first
above written.

 

	 	GADSDEN GROWTH PROPERTIES, INC.
	 	 	 
	 	By:	/s/ John Hartman
	 	Name: John Hartman
	 	Title: Chief Executive Officer
	 	 	 
	 	FC GLOBAL REALTY INCORPORATED
	 	 	 
	 	By:	/s/ John Hartman
	 	Name: John Hartman
	 	Title: Chief Executive Officer
	 	 	 
	 	STOCKHOLDER:
	 	 
	 	First
                                         Capital Master Advisor LLC

	 	Print Name Above
	 	 	 
	 	/s/ Suneet Singal
	 	Sign Above

 

	 	IF Holder is an Entity, specify
    name and title below:
	 	 	 
	 	Name: 	Suneet Singal
	 	 	 
	 	Title:	Managing
    Member 

 

     

     

    

 

Exhibit
A

 

	Name
    of Stockholder	Type
    of Gadsden Shares to be Cancelled	Number
    of Gadsden Shares to be Cancelled	Number
    of New FC Global Shares to be Received
	First
    Capital Master Advisor, LLC	Series
    B Preferred	3,166,828	77,344,391
    (common)
	Name	Type
    of FC Global Shares to be Cancelled	Number
                                         of FC Global Shares to be Cancelled

         

	Gadsden
    Growth Properties, Inc.	Preferred
    Series B	 3,168,828
	 	 	 	 	 	 

Authorized
By: Suneet Singal

 

	/s/ Suneet Singal	 	Date:
    May 16, 2019

 

    8 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Cancellation and Exchange Agreement to be executed as of the date first
above written.

 

	 	GADSDEN GROWTH PROPERTIES, INC.
	 	 	 
	 	By:	/s/ John Hartman
	 	Name: John Hartman
	 	Title: Chief Executive Officer
	 	 	 
	 	FC GLOBAL REALTY INCORPORATED
	 	 	 
	 	By:	/s/ John Hartman
	 	Name: John Hartman
	 	Title: Chief Executive Officer
	 	 	 
	 	STOCKHOLDER:
	 	 	 
	 	First
                                         Capital Real Estate Operating Partnership, LP

	 	Print Name Above
	 	 	 
	 	/s/ Suneet Singal
	 	Sign Above

 

	 	IF Holder is an Entity, specify name and title below:
	 	 	 
	 	Name: 	Suneet Singal
	 	 	 
	 	Title:	CEO 

 

    9 

     

    

 

Exhibit
A

 

	Name
    of Stockholder	Type
    of Gadsden Shares to be Cancelled	Number
    of Gadsden Shares to be Cancelled	Number
    of New FC Global Shares to be Received
	First
    Capital Real Estate Operating Partnership, LP	Series
    B Preferred	 98,166	 2,397,514
    (common)
	Name	Type
    of FC Global Shares to be Cancelled	Number
                                         of FC Global Shares to be Cancelled

         

	Gadsden
    Growth Properties, Inc.	Preferred
    Series B	 98,165
	 	 	 	 	 	 

Authorized
By: Suneet Singal

 

	/s/ Suneet Singal	 	Date:
    May 16, 2019

 

    10 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Cancellation and Exchange Agreement to be executed as of the date first
above written.

 

	 	GADSDEN GROWTH PROPERTIES, INC.
	 	 	 
	 	By:	/s/ John Hartman
	 	Name: John Hartman
	 	Title: Chief Executive Officer
	 	 	 
	 	FC GLOBAL REALTY INCORPORATED
	 	 	 
	 	By:	/s/ John Hartman
	 	Name: John Hartman
	 	Title: Chief Executive Officer
	 	 	 
	 	STOCKHOLDER:
	 	 	 
	 	SRS,
                                         LLC

	 	Print Name Above
	 	 	 
	 	/s/ Suneet Singal
	 	Sign Above

 

	 	IF Holder is an Entity, specify name and title below:
	 	 	 
	 	Name: 	Suneet Singal
	 	 	 
	 	Title:	Managing Member

 

    11 

     

    

 

Exhibit
A

 

	Name
    of Stockholder	Type
    of Gadsden Shares to be Cancelled	Number
    of Gadsden Shares to be Cancelled	Number
    of New FC Global Shares to be Received
	SRS,
    LLC	Common	 481,004	11,747,705
    (common)
	Name	Type
    of FC Global Shares to be Cancelled	Number
                                         of FC Global Shares to be Cancelled

         

	Gadsden
    Growth Properties, Inc.	Common	11,747,705
	 	 	 	 	 	 

Authorized
By: Suneet Singal

 

	/s/ Suneet Singal	 	Date:
    May 16, 2019

 

    12Exhibit

EXHIBIT 4.1

DESCRIPTION OF CAPITAL STOCK OF 8X8, INC.

General
The following description of our capital stock and provisions of our certificate of incorporation and by-laws is a summary only and not a complete description.

Our authorized capital stock consists of 200,000,000 shares of common stock, par value $0.001 per share, and 5,000,000 shares of preferred stock, par value $0.001 per share.

Common Stock
As of March 31, 2019, 96,119,888 shares of our common stock were outstanding. Each holder of our common stock is entitled to:
		
	•
	one vote per share on all matters submitted to a vote of the stockholders;

		
	•
	dividends as may be declared by our board of directors out of funds legally available for that purpose, subject to the rights of any preferred stock that may be outstanding; and

		
	•
	his, her or its pro rata share in any distribution of our assets after payment or providing for the payment of liabilities and the liquidation preference of any outstanding preferred stock in the event of liquidation.

Holders of common stock have no cumulative voting rights, redemption rights or preemptive rights to purchase or subscribe for any shares of our common stock or other securities. All of the outstanding shares of common stock are fully paid and nonassessable. The rights, preferences and privileges of holders of our common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of preferred stock that we may designate and issue in the future.

Preferred Stock
Our board of directors has the authority, subject to any limitations prescribed by Delaware law, to issue  shares of preferred stock in one or more series and to fix and determine the relative rights and preferences of the shares constituting any series to be established, without any further vote or action by the stockholders. Any shares of our preferred stock so issued may have priority over our common stock with respect to dividend, liquidation, redemption, voting and other rights.

Our board of directors may authorize the issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of our common stock. Although the issuance of preferred stock could provide us with flexibility in connection with possible acquisitions and other  corporate purposes, under some circumstances, it could have the effect of delaying, deferring or preventing a change of control.

Anti-Takeover Effects of Delaware Law, Our Certificate of Incorporation and By-laws
Certain provisions of our charter documents and Delaware law could have an anti-takeover effect and could delay, discourage or prevent a tender offer or takeover attempt that a stockholder might consider to be in its best interests, including attempts that might otherwise result in a premium being paid over the market price of our common stock.
Charter and By-laws

Our certificate of incorporation and by-laws contain provisions that could have the effect of delaying or preventing changes in control or changes in our management without the consent of our board of directors, including, among other things:
		
	•
	no cumulative voting in the election of directors, which limits the ability of minority stockholders to elect director candidates;

		
	•
	the ability of our board of directors to issue shares of preferred stock and to determine the price and other terms of those shares, including preferences and voting rights, without stockholder approval, which could be used to significantly dilute the ownership of a hostile acquirer;

		
	•
	the exclusive right of our board of directors to elect a director to fill a vacancy created by the expansion of our board of directors or the resignation, death or removal of a director, which prevents stockholders from being able to fill vacancies on our board of directors;

		
	•
	a prohibition on stockholder action by written consent, which forces stockholder action to be taken at an annual or special meeting of our stockholders;

		
	•
	the requirement that a special meeting of stockholders may be called only by a majority vote of our board of directors or by stockholders holding shares of our common stock representing in the aggregate a majority of votes then outstanding, which could delay the ability of our stockholders to force consideration of a proposal or to take action, including the removal of directors;

		
	•
	the ability of our board of directors, by majority vote, to amend our by-laws, which may allow our board of directors to take additional actions to prevent a hostile acquisition and inhibit the ability of an acquirer to amend our by-laws to facilitate a hostile acquisition; and

		
	•
	advance notice procedures with which stockholders must comply to nominate candidates to our board of directors or to propose matters to be acted upon at a stockholders’ meeting, which may discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer’s own slate of directors or otherwise attempting to obtain control of us.

Delaware Anti-Takeover Statute
We are also subject to certain anti-takeover provisions under the General Corporation Law of the State of Delaware, or the DGCL. Under Section 203 of the DGCL, a corporation may not, in general, engage in a  business combination with any holder of 15% or more of its capital stock unless the holder has held the stock for three years or (i) our board of directors approves the transaction prior to the stockholder acquiring the 15% ownership position, (ii) upon consummation of the transaction that resulted in the stockholder acquiring the 15% ownership position, the stockholder owns at least 85% of the outstanding voting stock (excluding shares owned by directors or officers and shares owned by certain employee stock plans) or (iii) the transaction is approved by the board of directors and by the stockholders at an annual or special meeting by a vote of 66 2/3% of the outstanding voting stock (excluding shares held or controlled by the interested stockholder). These provisions in our certificate of incorporation and by-laws and under Delaware law could discourage potential takeover attempts.

In general, Section 203 defines an interested stockholder as any entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling or controlled by any such entity or person.

A Delaware corporation may opt out of this provision by express provision in its original certificate of incorporation or by amendment to its certificate of incorporation or by-laws approved by its stockholders. We have not opted out of Section 203. The statute could prohibit or delay mergers or other takeover or change in control attempts and, accordingly, may discourage attempts to acquire us.

Transfer Agent and Registrar
The transfer agent and registrar for our common stock is Computershare, and its address is 250 Royall Street, Canton, MA 02021.

Listing
Our common stock is listed on the New York Stock Exchange under the symbol “EGHT.”

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