Document:

EXHIBIT 10.4

 

STATEMENT
OF WORK - Infrastructure and Support Services

 

1.Purpose

 

This Statement of Work dated as of August 1, 2011 is
entered into between Helios and Matheson Information Technology Inc. (hereinafter "HMNY"), having offices at 200 Park
Avenue South Suite # 901 NY 10003, Helios Matheson Global Services Pvt Ltd (HMGS), HMNY’s wholly owned Indian subsidiary
and IonIdea, Inc. (herein after "IonIdea"), having its offices located at 3933 Old Lee Highway, Suite 33B, Fairfax, VA
22030. The purpose of this Statement of Work is to set forth the Services to be provided by IonIdea.

  

2.Term

 

The Services shall commence on the Aug 1, 2011 and shall continue
until July 31, 2012 ("End Date"). HMNY and Ionidea may agree to extend this SOW as mutually acceptable.

 

3.Description
Of Services – Deliverable

 

IonIdea shall provide Infrastructure and IT support services
to HMNY. A few of the specified services may vary and evolve during the term of this Agreement. IonIdea shall be responsible for
the primary services described as follows.

 

4. Ion Idea’s Responsibilities

		>	Provide working environment in Bangalore, India, for the HMNY employees / team members.

		>	Ion Idea’s team will interact closely with HMNY
staff to ensure these services are provided.

		>	IonIdea will provide desktops for each of the HMNY team members. Additional hardware, as listed in Appendix 1 is the current
list of includes servers and laptops provided to HMNY by IonIdea (see attached Appendix1). Further hardware needs, apart from desktops
are to be discussed and provided on mutual agreement on fully reimbursable basis.

 

5. HMNY Responsibilities

		>	Keep IonIdea informed of any changes that will impact usage of IonIdea infrastructure & services

		>	Keep IonIdea informed in advance of any additional manpower recruited by HMNY.

		>	Any special servers required by specific projects will be the responsibility of HMNY

		>	HMNY shall be liable to arrange and pay for any dedicated leased line charges etc. at actuals,
directly to the respective agencies

		>	HMNY shall promptly comply with all the
laws, rules and regulations of the government and local authorities as may be required.

		>	HMNY shall keep the facility in clean
and good condition and maintain the electrical, sanitary, wooden and other fixtures, fitting and installations in the facility
occupied by him without causing any damage.

		>	HMNY shall use the premises for Office purposes only

 

    	 

    	 

    
 

 

6. HMNY and IonIdea Responsibilities

		>	All persons on HMNY projects and IonIdea shall respect Confidentiality and Non-Compete Agreements executed by either party
with their clients.

		>	All persons on HMNY projects shall not solicit other employees of IonIdea under any circumstances.

		>	HMNY shall not, without prior permission from IonIdea, bring any visitors to the IonIdea facility.

 

7. Solicitation of Employees

IonIdea and HMNY agree that they shall not solicit employees
of the other and shall ensure that all persons contracted to perform services under this Agreement will not be hired by the other
without written release by current employer, for a period of 12 months from date of termination of employment with the current
employer.

 

8. Place of Performance of Services

The Services shall be performed at the IonIdea premises located
at 38-40, Export Promotion Industrial Park, Whitefield, Bangalore 560 066, India. Any change in the place of performance shall
be subject to agreement by both parties.

 

9. Parties' Relationship Managers

IonIdea and HMNY primary contacts for all activities under this
Statement of Work shall be those identified in the table below or such other contact notified by a party to the other in writing.
The Relationship Managers listed below will ensure success of the relationship.

 

	 	IONIDEA	HMNY
	Relationship Manager	Brindala Ananthram	Suparna N R
	Secondary contact	Sudha Sathish	Umesh Ahuja

 

 

10. Fees, Invoicing, And Expenses

HMNY shall pay a flat rate
fee per person for all team members who are on HMNY’s payroll.

 

	
         

        Service
        Level
	Fee per month per resource	Services Provided
	Bronze	$550	Bronze Level Service:  Cubicles, Desktop PC with basic OS and MS office suite, server/network and desktop support, telecom services + Cafeteria

In addition to the above fee
of $550 per team member, HMNY will also reimburse IonIdea the transportation expense on actual basis for each employee availing
the transportation facility, This transportation provided will be for one specific shift as specified by HMNY (currently 11 am
to 7 pm). All other transportation will be considered as ad-hoc transportation.

 

Also the ad-hoc transportation
needed for one off cases where team members require transportation after regular office hours can also be provided on actual costs

 

    	 

    	 

    
 

 

11. Invoicing Procedure

Invoices addressed to HMNY
will be sent electronically to the designated HMNY Primary Contact Person, as stated above. Payment terms are net 45 and late payments
will be liable for interest @ 1% per month from date of invoice. 

 

Invoices will be raised on
HMNY and payment is guaranteed by HMNY.

 

12. Termination of services

 

12.1 Termination for Convenience: Except as provided
in a Statement of Work, Customer shall have the right to elect to terminate a Statement of Work, at any time, by providing Supplier
with ninety (90) days prior written notice of said election.

 

12.2 Termination by Either Party for Material Breach and
Bankruptcy:  Either party may terminate this Agreement (or any part thereof) or any Statement of Work upon written notice
(a) if the other party materially breaches this Agreement and fails to cure such breach within thirty (30) days following receipt
of written notice specifying the breach in detail or (b) if either Party files a petition for relief under any bankruptcy legislation,
if any involuntary petition thereunder should be filed against either Party and the same not be dismissed within thirty (30) days,
if either Party is adjudicated a bankrupt or if either Party makes an assignment for the benefit of creditors.

 

12.3 Hardware / Software :The generic hardware
(Desktop) as specified earlier will be provided by IonIdea. Any other specific hardware or software required for HMNY projects
will not be provided by IonIdea.

 

IN WITNESS
WHEREOF, this Statement of Work has been executed as of the date first above written by the undersigned authorized representatives
of HMNY and IonIdea.

 

	
        Sudha Sathish

        IonIdea Inc

         

         
	
        Umesh

HMNY

 

 

  

Asset List

 

	LAPTOP DETAILS OF TACT
	SL. No.	Name	Type	Location
	1	I2LT106	Laptop	AP02C001
	2	I3LT009	Laptop	AP02C027
	3	I3LT011	Laptop	AP02C016
	4	I3LT012	Laptop	AP02C019
	 	 	 	 
	DESKTOP DETAILS OF TACT
	SL. NO	Name	Type	Location
	1	I1DT054	Desktop	AP02C011
	2	I1DT052	Desktop	AP02C006
	 	 	 	 
	SERVER DETAILS OF TACT
	SL. NO	Name	Type	Location
	1	Firewall	Server	2nd Floor Server Room
	2	Firewall	Server	2nd Floor Server RoomFIRST AMENDMENT TO

 

2004 EQUITY INCENTIVE PLAN

 

OF ZIPREALTY, INC.

 

 

 

At a regularly scheduled meeting of the Board
of Directors (the “Board”) of ZipRealty, Inc. (the “Company”) held on March 8, 2012, the Board adopted
the following recitals and resolution:

 

WHEREAS, Section 10(d) of the Company’s
2004 Equity Incentive Plan (the “Plan”) provides for an annual automatic grant to each continuing non-employee director
of the Company, if such person has been in that position for at least six months, of a stock option to purchase 6,666 shares of
the Company’s common Stock (the “Annual Grant”); and

 

WHEREAS, the Board has determined it to
be in the best interests of the Company and its stockholders to amend the Plan to increase the Annual Grant for the Company’s
Chairman of the Board from 6,666 shares to 10,000 shares; and

 

WHEREAS, Section 10(f) of the Plan permits
the Board to adopt such an amendment within its discretion and without stockholder approval.

 

NOW, THEREFORE, BE IT RESOLVED, that pursuant
to Section 10(f) of the Plan, Section 10(d) of the Plan is hereby amended to read in full as follows:

 

Annual Option. Each
Outside Director will be automatically granted an Option to purchase 6,666 Shares (an “Annual Option”) on each date
of the annual meeting of the stockholders of the Company beginning in 2005, if as of such date, he or she will have served on the
Board for at least the preceding six (6) months. Beginning in 2012, the Annual Option grant shall be increased to 10,000 shares
in the case of an Outside Director who is also the Company’s Chairman of the Board.

 

IN WITNESS WHEREOF, I have executed this document
as of the date first set forth above and in the capacity set forth below.

 

 

 

 

 

/s/ Samantha E. Harnett

Samantha E. Harnett

Vice President, General Counsel and Secretary
of the CompanyZIPREALTY, INC.

 

DIRECTOR COMPENSATION POLICY

 

 

Non-employee directors of ZipRealty, Inc.
(the “Company”) shall receive the following compensation for their service as a member of the Board of Directors
(the “Board”) of the Company, commencing upon the effective date of the first registration statement that is
filed by the Company and declared effective pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended, with
respect to the Company’s common stock:

 

Initial Option Grant for New Board Members

 

Pursuant to the Company’s 2004 Equity
Incentive Plan, an automatic grant of an option to purchase 16,666 shares of common stock of the Company (an “Initial
Option”) shall be granted on or about the date such non-employee director first becomes a member of the Board, at an
exercise price equal to the fair market value of the common stock on the date of grant. The Initial Option is subject to vesting
over a period of three years in equal annual installments commencing on the date of grant, subject to the non-employee director’s
continued service to the Company through the vesting dates. An employee director who ceases to be an employee, but who remains
a director, will not receive an Initial Option.

 

Annual Option Grant for Continuing Board Members

 

Pursuant to the Company’s 2004 Equity
Incentive Plan, an automatic annual grant of an option to purchase 10,000 shares of common stock of the Company shall be made to
the Company’s continuing non-employee Chairman of the Board, and an automatic annual grant of an option to purchase 6,666
shares of common stock of the Company shall be made to each other continuing non-employee director of the Company, on the date
of each Company annual meeting of stockholders beginning in 2012, at an exercise price equal to the fair market value of the common
stock on the date of grant (each, an “Annual Option”). Each Annual Option vests in full on the earlier of (i)
the first anniversary of the date of grant and (ii) the Company’s next annual meeting of stockholders at which directors
are elected, subject to the non-employee director’s continued service to the Company through the vesting date. A continuing
non-employee Chairman of the Board or director will receive an Annual Option only if he or she has served on the Board for at least
the preceding six (6) months.

 

Annual Cash Compensation

 

Annual Retainer

 

    	 

    	 

    

Each non-employee director shall be entitled
to an annual cash retainer in the amount of $18,000 (the “Annual Retainer”). The Company shall pay such retainer
on a quarterly basis, subject to the non-employee director’s continued service to the Company as a non-employee director
on each such date.

 

Additional Retainer for Board
Committee Chairpersons

 

In addition to the Annual Retainer, a non-employee
director who serves as the Chairperson of a Board committee shall be entitled to the following annual cash retainer: (a) $25,000
for the Chairperson of the Audit Committee; (b) $5,000 for the Chairperson of the Compensation Committee; and (c) $5,000
for the Chairperson of the Corporate Governance and Nominating Committee. The Company shall pay the applicable retainer on a quarterly
basis, subject to the non-employee director’s continued service to the Company as Chairperson of the applicable Board committee
on each such date.

 

Additional Retainer for Board
Committee Members

 

In addition to the Annual Retainer, a non-employee
director who serves as a member, but not the Chairperson, of a Board committee shall be entitled to the following annual cash retainer:
(i) $5,000 for membership on the Audit Committee; (ii) $2,500 for membership on the Compensation Committee; and (iii) $2,500
for membership on the Corporate Governance and Nominating Committee. The Company shall pay the applicable retainer on a quarterly
basis, subject to the non-employee director’s continued service to the Company as a member of the applicable Board committee
on each such date.

 

Proration of Cash Retainers

 

Notwithstanding anything in this Director
Compensation Policy to the contrary, in the event a non-employee director assumes or vacates a position on the Board or one of
its committees during a quarter, he or she shall be entitled to a prorated portion of the cash retainer for such position for that
quarter based on the percentage of days in that quarter during which he or she served in that position.

 

Provisions Applicable to All Non-Employee Director Equity
Compensation Grants

 

Each Initial Option and Annual Option shall
be subject to the terms and conditions of the Company’s 2004 Equity Incentive Plan and the terms of the Stock Option Agreement
issued thereunder. The descriptions of these grants set forth above are qualified in their entirety by reference to the 2004 Equity
Incentive Plan and the applicable Stock Option Agreement issued thereunder.

 

Last revised March 8, 2012

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