Document:

Exhibit

Exhibit 10.8

Principal Amount: $171,128            Original Issue Date: March 19, 2015
Date of First Amendment: As of April 20, 2016
Date of this Amended and Restated Promissory Note: As of December 15, 2018

AMENDED AND RESTATED PROMISSORY NOTE

FOR VALUE RECEIVED, WHEELER REAL ESTATE INVESTMENT TRUST, INC., a Maryland corporation (hereinafter called “Borrower”), hereby promises to pay to Steady Gain Partners L.P. (the “Holder”) or its registered assigns or successors in interest or to order, without demand, the sum of  $171,128 (the “Principal Amount”), together with any accrued but unpaid interest or other amount payable hereunder, on June 15, 2019, if not sooner paid in accordance with the terms hereof.
This Amended and Restated Promissory Note (this “Note”) amends and restates an Amended Convertible Promissory Note dated as of April 20, 2016 (the “Amended Note”), which amended a Convertible Promissory Note dated as of March 19, 2015 (the (“Original Note”).  The Original Note was issued to Holder pursuant to the terms of a Securities Purchase Agreement, dated as of December 16, 2013 between the Borrower and the Holder (the “Purchase Agreement”).  This Note shall be subject to and governed by the terms of the Purchase Agreement.  This Note evidences an amendment and restatement of the Amended Note, but does not effect a novation, payment or discharge of the Amended Note (or any of the Borrower’s obligations thereunder).  Unless otherwise separately defined herein, all capitalized terms used in this Note shall have the same meaning as is set forth in the Purchase Agreement.

ARTICLE I
PAYMENT; INTEREST
1.1.    Interest Rate.  Interest on this Note shall compound monthly and shall accrue at the rate of nine percent (9%) per annum, except that, if an Event of a Default (as defined below) occurs, during the continuance of such Event of Default, the interest rate shall increase to fifteen percent (15%) per annum, in which case, the additional amount payable in excess of the regular installment payments shall be payable ON DEMAND.

1.2    Level Amortization.  The Principal Amount, together with interest thereon as provided in Section 1.1, shall be repaid in six equal installments of $29,274.68 payable on January 15, 2019, February 15, 2019, March 15, 2019, April 15, 2019, May 15, 2019 and June 15, 2019 (each an “Installment Payment”).

ARTICLE II
EVENTS OF DEFAULT
The occurrence of any of the following events of default (each, an “Event of Default”) shall, at the option of the Holder hereof, make all sums of principal and interest then remaining unpaid hereon and all other amounts payable hereunder immediately due and payable, upon demand, without presentment, or grace period, all of which hereby are expressly waived, except as set forth below:
2.1     Failure to Pay Principal or Interest.  The Borrower fails to pay any Installment Payment or any other amount payable hereunder when due and such failure continues for a period of ten (10) business days after the due date.
2.2     Breach of Covenant.  The Borrower breaches any material covenant or other term or condition of this Note or the Purchase Agreement in any material respect and, if subject to cure, such breach continues for a period of ten (10) business days after written notice to the Borrower from the Holder.
2.3     Breach of Representations and Warranties.  Any material representation or warranty of the Borrower made herein or in the Purchase Agreement shall be false or misleading in any material respect as of the date made.
2.4     Receiver or Trustee.  The Borrower or any subsidiary of Borrower shall make an assignment for the benefit of creditors, or apply for or consent to the appointment of a receiver or trustee for them or for a substantial part of their property or business; or such a receiver or trustee shall otherwise be appointed.
2.5     Judgments.  Any money judgment, writ or similar final process shall be entered or filed against Borrower or any subsidiary of Borrower or any of their property or other assets for more than $750,000, and shall remain unvacated, unbonded, unappealed, unsatisfied, or unstayed for a period of forty-five (45) days.
2.6     Non-Payment.  A default by the Borrower under any one or more obligations in an aggregate monetary amount in excess of $750,000 for more than thirty (30) days after the due date, unless the Borrower is contesting the validity of such obligation in good faith.
 
2.7     Bankruptcy.  Bankruptcy, insolvency, reorganization, or liquidation proceedings or other proceedings or relief under any bankruptcy law or any law, or the issuance of any notice in relation to such event, for the relief of debtors shall be instituted by or against the Borrower and, if instituted, is not dismissed within forty-five (45) days of initiation.
2.8     Delisting.  Delisting of the Borrower’s common stock from the Nasdaq Stock Market for a period of ten (10) consecutive trading days.

ARTICLE III 
MISCELLANEOUS
3.1    Note Rank.  The indebtedness evidenced by this Note shall be senior to, and have priority in right of payment over, all indebtedness of the Borrower incurred prior to or following the date of this Note.  Notwithstanding the foregoing, this Note shall rank pari passu with all other Notes issued under the Purchase Agreement.
3.2     Failure or Indulgence Not Waiver.  No failure or delay on the part of Holder hereof in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other right, power or privilege.  All rights and remedies existing hereunder are cumulative to, and not exclusive of, any rights or remedies otherwise available.
3.3     Notices.  All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted by hand delivery, telegram, electronic mail or facsimile, addressed as set forth below or to such other address as such party shall have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile machine, at the address or number designated below (if delivered on a business day during normal business hours where such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during normal business hours where such notice is to be received) (b) on the second business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur or (c) upon actual receipt by the party to whom such notice is required or permitted to be given, if such notice or communication is delivered via electronic mail. The addresses for such communications shall be: (i) if to the Holder, to the address set forth on the signature page of the Purchase Agreement, and (ii) if to Borrower, to Riversedge North, 2529 Virginia Beach Boulevard Virginia Beach, VA 23452.
3.4    Amendment Provision.  The term “Note” and all reference thereto, as used throughout this instrument, shall mean this instrument as originally executed, or if later amended or supplemented, then as so amended or supplemented.

3.5     Assignability.  This Note shall be binding upon the Borrower and its successors and assigns, and shall inure to the benefit of the Holder and its successors and assigns.
3.6     Cost of Collection.  If default is made in the payment of this Note, Borrower shall pay the Holder hereof reasonable costs of collection, including reasonable attorneys’ fees.
3.7     Governing Law, Provisions Severable.  This Note shall be governed by and construed in accordance with the laws of the State of New York.  Any action brought by either party against the other concerning the transactions contemplated by this Note shall be brought only in the civil or state courts of the State of New York or in the federal courts located in the Southern District of New York.  Both parties and the individual signing this Note on behalf of the Borrower agree to submit to the jurisdiction of such courts.  In the event that any provision of this Note is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law.  Any such provision that may prove invalid or unenforceable under any law shall not affect the validity or unenforceability of any other provision of this Note.

3.8     Maximum Payments.  Nothing contained herein shall be deemed to establish or require the payment of a rate of interest or other charges in excess of the maximum permitted by applicable law.  In the event that the rate of interest required to be paid or other charges hereunder exceed the maximum permitted by such law, any payments in excess of such maximum shall be credited against amounts owed by the Borrower to the Holder hereunder or, if and to the extent this Note is fully repaid and no amount is owed to the Holder hereunder, refunded to the Borrower.
3.9    Non-Business Days.  Whenever any payment or any action to be made shall be due on a Saturday, Sunday or a public holiday under the laws of the Commonwealth of Virginia, such payment may be due or action shall be required on the next succeeding business day and, for such payment, such next succeeding day shall be included in the calculation of the amount of accrued interest payable on such date.

REMAINDER OF PAGE INTENTIONALLY BLANK
SIGNATURE PAGE FOLLOWS
 
 

IN WITNESS WHEREOF, Borrower has caused this Amended and Restated Promissory Note to be signed in its name by an authorized officer as of the 15th  day of December, 2018.
 

WHEELER REAL ESTATE INVESTMENT TRUST, INC.

      By:     /s/ David Kelly
      Name:    David Kelly
      Title:    CEO and PresidentExhibit 10.1

 

CERTIFICATE OF AMENDMENT

TO CERTIFICATE OF INCORPORATION

mPHASE TECHNOLOGIES, INC

 

Pursuant
to Section 14A: 7-2 of Title 14A, Corporations General of the New Jersey Statutes, the undersigned does hereby amend the Certificate
of Incorporation of mPhase Technologies, Inc. (the “Corporation”) as follows:

 

		1.	Pursuant
to Action of the Board of Directors of the Corporation at a Special Meeting held on December 19, 2018 the undersigned does hereby
amend the Certificate of Incorporation of the Corporation as follows:

 

		a.	Paragraph
4 of the Certificate of Incorporation is deleted and replaced as follows:

 

The
aggregate number of shares of Common Stock which the Corporation shall have authority to issue is 125,000,000,000 no par value
Shares.

 

The
Series A Preferred Stock of the Company is replaced in its entirety with a new Series A Preferred Stock set forth as
follows:

 

CERTIFICATE
OF DESIGNATIONS, PREFERENCES AND RIGHTS OF

SERIES
A PREFERRED STOCK OF

MPHASE TECHNOLOGIES, INC.

 

mPhase
Technologies, Inc. (the “Corporation”), a corporation organized and existing under the laws of New Jersey does hereby
certify that, pursuant to authority conferred upon the board of directors of the Corporation (the “Board”) by the Certificate
of Incorporation of the Corporation, and the Board of the Corporation, has adopted resolutions (a) authorizing the designation
and issuance of one thousand (1,000) shares of Series A Preferred Stock and (b) providing for the designations, preferences and
relative participating, options or other rights, and the qualifications, limitations or restrictions thereof, as follows:

 

	 	1.	Designation of
    Series A Preferred Stock. The Corporation shall be authorized to issue one thousand (1,000) shares of Series A Preferred
    Stock, par value $.001 per share (the “Series A Preferred Stock”).

 

     

     

    

 

	 	2.	Liquidation.

 

a. Upon
the liquidation, dissolution or winding up of the business of the Corporation, whether voluntary or involuntary, each
holder of Series A Preferred Stock shall be entitled to receive, for each share thereof, out of the assets of the Corporation
legally available therefor, a preferential amount in cash equal to the Stated Value (as defined herein). All preferential
amounts to be paid to the holders of Series A Preferred Stock in connection with such liquidation, dissolution or winding up
shall be paid before the payment or setting apart for, payment of any amount for, or the distribution of any asset of the
Corporation to the holders of (i) any other class or series of capital stock whose terms expressly provide that the holders
of Series A Preferred Stock should receive preferential payment with respect to such distribution and (ii) the Corporation’s
common stock. If, upon any such distribution, assets of the Corporation shall be insufficient to pay the holders of the
outstanding shares of Series A Preferred Stock (or the holders of any class or series of capital stock ranking on parity with
the Series A Preferred Stock as to distributions in the event of a liquidation, dissolution or winding up of the Corporation)
the full amounts to which they shall be entitled, such holders shall share ratably in any distribution of assets in
accordance with the sums which would be payable on such distribution if all such sums payable were paid in full. Stated Value
means $.001 per share.

 

b.
Any distribution in connection with the liquidation, dissolution or winding up of the Corporation, or any bankruptcy or
insolvency proceeding, shall be made in cash to the extent possible. Whenever any such distribution shall be paid in property
other than cash, the value of such distribution shall be the fair market value of such property as determined in the good
faith by the Board.

 

	 	3.	Ranking.
    Shares of the Series A Preferred Stock shall rank (i) senior to the Corporation’s (A) common stock and any other class
    or series of capital stock of the Corporation hereafter created, except as otherwise provided in clauses (ii) and (iii) of
    this Section 3, (ii) pari passu with any class or series of capital stock of the Corporation hereafter created and specifically
    ranking, by its terms, on par with the Series A Preferred Stock and (iii) junior to any class or series of capital stock of
    the Corporation hereafter created specifically ranking, by its terms, senior to the Series A Preferred Stock, in each case
    as to distribution of assets upon liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary.

 

    2

     

    

 

	 	4.	Voting.
    Except as otherwise expressly required by law, each holder of Series A Preferred Stock shall be entitled to vote on all matters
    submitted to stockholders of the Corporation. The holders of the one thousand (1,000) shares of Series A Preferred Stock shall
    have that number of votes (identical in every other respect to the voting rights of the holders of common stock entitled to
    vote at any regular or special meeting of stockholders) equal to such number of shares of common stock which is not less than
    fifty-one percent (51%) of the vote required to approve any action, which New Jersey law provides may or must be approved
    by vote or consent of the holders of common stock or the holders of other securities entitled to vote, if any. Except
    as otherwise required by law, the holders of Series A Preferred Stock shall vote together with the holders of common stock
    on all matters and shall note vote as a separate class. The holders of Series A Preferred Stock shall be entitled to the same
    notice of any regular or special meeting of the stockholders as may or shall be given to holders of common stock entitled
    to vote at such meetings. No corporate actions requiring majority stockholder approval or consent may be submitted to a vote
    of common stock holders which in any way precludes the holders of Series A Preferred Stock from exercising their voting or
    consent rights as though they are or were a common stock holder. For purposes of determining a quorum for any regular or special
    meeting of the stockholders, the one thousand (1,000) shares of Series A Preferred Stock shall be included and shall be deemed
    as the equivalent of fifty-one percent (51%) of all shares of common stock represented at and entitled to vote at such meetings.

 

	 	5.	Conversion. The
    Series A Preferred Stock shall not be convertible into any other class of stock.

 

	 	6.	Dividends. Except
    as otherwise required by law, no dividend shall be declared or paid on the Series A Preferred Stock.

 

	 	7.	Protective
    Provisions. In addition to any other rights provided by law, except where the vote or written consent of the holders
    of a greater number of shares is required by law or by another provision of the Certificate of Incorporation, without first
    obtaining the affirmative vote at a meeting duly called for such purpose or the written consent without a meeting of the Required
    Holders (as defined herein), voting together as a single class, the Corporation shall not:

 

a.
alter or change adversely the powers, preferences or rights given to the Series A Preferred Stock or alter or amend this
Certificate of Designation;

 

b.
amend its Certificate of Incorporation or other charter documents in any manner that adversely affects any rights of the
holders of Series A Preferred Stock;

 

c.
consummate a Fundamental Transaction (as defined herein);

 

d.
increase or decrease the authorized number of Series A Preferred Stock;

 

e.
create or authorize (by reclassification or otherwise) any new class or series of shares that has a preference over or is on
a parity with the Series A Preferred Stock with respect to the distribution of assets on the liquidation, dissolution or
winding-up of the Corporation;

 

f.
purchase, repurchase or redeem any shares of capital stock of the Corporation junior in rank to the Series A Preferred Stock
(other than pursuant to equity incentive agreements (that have in good faith been approved by the Board) with employees
giving the Corporation the right to repurchase shares upon the termination of services; or

 

g.
enter into any agreement with respect to any of the foregoing.

 

“Required Holders” means holders of 51% of the
Series A Preferred Stock.

 

    3

     

    

 

	 	8.	Fundamental Transaction. If,
    at any time while shares of the Series A Preferred Stock are outstanding, (i) the Corporation, directly or indirectly, in
    one or more related transactions effects any merger or consolidation of the Corporation with or into another Person (as defined
    herein), (ii) the Corporation, directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance
    or other disposition of all or substantially all of its assets in one or a series of related transactions (iii) any, direct
    or indirect, purchase offer, tender offer or exchange offer (whether by the Corporation or another Person) is completed pursuant
    to which holders of common stock are permitted to sell, tender or exchange their shares for other securities, cash or property
    and has been accepted by the holders of 50% or more of the outstanding common stock, (iv) the Corporation, directly or indirectly,
    in one or more related transactions effects any reclassification, reorganization or recapitalization of the common stock or
    any compulsory share exchange pursuant to which the common stock is effectively converted into or exchanged for other securities,
    cash or property, or (v) the Corporation, directly or indirectly, in one or more related transactions consummates a stock
    or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization,
    spin-off or scheme of arrangement) with another Person whereby such other Person acquires more than 50% of the outstanding
    shares of common stock (not including any shares of common stock held by the other Person or other Persons making or party
    to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other
    business combination) (each a “Fundamental Transaction”), then, the Corporation shall cause any successor entity
    in a Fundamental Transaction in which the Corporation is not the survivor (the “Successor Entity”) to assume in
    writing all of the obligations of the Corporation under this Certificate of Designation in accordance with the provisions
    of this Section 8 prior to such Fundamental Transaction and shall, at the option of the holders of Series A Preferred Stock,
    deliver to such holders in exchange for Series A Preferred Stock a security of the Successor Entity evidenced by a written
    instrument substantially similar in form and substance to the Series A Preferred Stock. Upon the occurrence of any such Fundamental
    Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental
    Transaction, the provisions of this Certificate of Designation referring to the “Corporation” shall refer instead
    to the Successor Entity), and may exercise every right and power of the Corporation and shall assume all of the obligations
    of the Corporation under this Certificate of Designation with the same effect as if such Successor Entity had been named as
    the Corporation herein. “Person” means an individual or corporation, partnership, trust, incorporated or unincorporated
    association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof)
    or other entity of any kind.

 

	 	9.	No
    Redemption; No Preemptive Rights. The shares of Series A Preferred Stock are not redeemable by the Corporation. The
    shares of Preferred Stock are not entitled to any preemptive or subscription rights in respect of any securities of the Corporation.

 

		10.	Miscellaneous.

 

		a.	Lost or
                                         Mutilated Preferred Stock Certificate. If a holder’s Series A Preferred
                                         Stock certificate shall be mutilated, lost, stolen or destroyed, the Corporation shall
                                         execute and deliver, in exchange and substitution for and upon cancellation of a mutilated
                                         certificate, or in lieu of or in substitution for a lost, stolen or destroyed certificate,
                                         a new certificate for the shares of Series A Preferred Stock so mutilated, lost, stolen
                                         or destroyed, but only upon receipt of evidence of such loss, theft or destruction of
                                         such certificate, and of the ownership hereof reasonably satisfactory to the Corporation.

 

    4

     

    

 

		b.	Waiver.
                                         Any waiver by the Corporation or a holder of Series A Preferred Stock of a breach
                                         of any provision of this Certificate of Designation shall not operate as or be construed
                                         to be a waiver of any other breach of such provision or of any breach of any other provision
                                         of this Certificate of Designation or a waiver by any other holder of Series A Preferred
                                         Stock. The failure of the Corporation or a holder of Series A Preferred Stock to insist
                                         upon strict adherence to any term of this Certificate of Designation on one or more occasions
                                         shall not be considered a waiver or deprive that party (or any other holder of Series
                                         A Preferred Stock) of the right thereafter to insist upon strict adherence to that term
                                         or any other term of this Certificate of Designation on any other occasion. Any waiver
                                         by the Corporation or a holder of Series A Preferred Stock must be in writing.

 

		c.	Severability. If
                                                                                                                                                                         any provision of this Certificate of Designation is invalid, illegal or unenforceable, the balance of this Certificate
                                                                                                                                                                         of Designation shall remain in effect, and if any provision is inapplicable to any Person or circumstance, it shall
                                                                                                                                                                         nevertheless remain applicable to all other Persons and circumstances.

 

		d.	Headings.
                                         The headings contained herein are for convenience only, do not constitute a part
                                         of this Certificate of Designation and shall not be deemed to limit or affect any of
                                         the provisions hereof.

 

		e.	Governing
                                         Law. All questions concerning the construction, validity, enforcement and interpretation
                                         of this Certificate of Designation shall be governed by and construed and enforced in
                                         accordance with the internal laws of the State of New Jersey, without regard to the principles
                                         of conflict of laws thereof. Each party hereto hereby irrevocably waives, to the fullest
                                         extent permitted by applicable law, any and all right to trial by jury in any legal proceeding
                                         arising out of or relating to this Certificate of Designation or the transactions contemplated
                                         hereby. If any party shall commence an action or proceeding to enforce any provisions
                                         of this Certificate of Designation, then the prevailing party in such action or proceeding
                                         shall be reimbursed by the other party for its attorneys’ fees and other costs and expenses
                                         incurred in the investigation, preparation and prosecution of such action or proceeding.

 

*********************

 

    5

     

    

 

 

IN
WITNESS WHEREOF, the undersigned have executed this Certificate this 2nd day of January, 2019.

 

	 	mPhase
    Technologies, Inc.
	 	 
	 	/s/
    Martin Smiley
	 	Name:
    Martin Smiley
	 	Title:
    Executive Vice President

 

    6

     

    

 

	 	2.	Date
    of Adoption:

 

The
date of adoption of this Amendment shall be the date this Amendment if filed with the State of New Jersey.

 

	 	3.	Number
    of Directors of the Corporation:

 

The
Corporation has 5 Directors

  

	 	4.	Number
    of Directors Voting for this Amendment:

 

4
Directors constituting a majority of the Board and present at the Meeting voted to approve this Amendment. Mr. Victor Lawrence
as a non attending director abstained.

 

	 	5.	The
    Certificate of Incorporation is amended so that the designation and number of shares of each class and series acted upon in
    the resolution, and the relative rights, preferences and limitations of each of such class and series, are stated in the resolution.

 

	 	6.	A
    copy of the Resolution of the Board of Directors is set forth as an Exhibit to this Amendment.

 

The
undersigned Executive Vice President and Chief Financial Officer of the Corporation has signed this Certificate of Amendment this
2nd day of January 2019

 

	/s/
    Martin Smiley	 
	Martin
    Smiley	 
	EVP,
    CFO and General Counsel	 

 

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