Document:

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                                                                    EXHIBIT 10.4

                                 ZIPREALTY, INC.

                           CHANGE OF CONTROL AGREEMENT

         This Change of Control Agreement (the "Agreement") is made and entered
into by and between ________________________ (the "Executive") and ZipRealty,
Inc., a California corporation (together with the successor entity resulting
from the reincorporation of ZipRealty, Inc. in Delaware, the "Company"),
effective as of ________________, 2004.

                                 R E C I T A L S

         A.       It is expected that the Company from time to time will
consider the possibility of an acquisition by another company or other change of
control. The Board of Directors of the Company (the "Board") recognizes that
such consideration can be a distraction to the Executive and can cause the
Executive to consider alternative employment opportunities. The Board has
determined that it is in the best interests of the Company and its shareholders
to assure that the Company will have the continued dedication and objectivity of
the Executive, notwithstanding the possibility, threat or occurrence of a Change
of Control of the Company.

         B.       The Board believes that it is in the best interests of the
Company and its shareholders to provide the Executive with an incentive to
continue his employment and to motivate the Executive to maximize the value of
the Company upon a Change of Control for the benefit of its shareholders.

         C.       Certain capitalized terms used in the Agreement are defined in
Section 4 below.

         NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is acknowledged, the parties hereto agree as follows:

         1.       Term of Agreement. This Agreement shall terminate upon the
date that all obligations of the parties hereto with respect to this Agreement
have been satisfied.

         2.       At-Will Employment. The Company and the Executive acknowledge
that the Executive's employment is and shall continue to be at-will, as defined
under applicable law. If the Executive's employment terminates for any reason,
including (without limitation) any termination prior to a Change of Control, the
Executive shall not be entitled to any payments, benefits, damages, awards or
compensation other than as provided by this Agreement, or as may otherwise be
available in accordance with the Company's established Executive plans and
practices or pursuant to other agreements with the Company.

         3.       Benefits.

                  (a)      Termination Following A Change of Control. In the
event that a Change of Control of the Company occurs and during the period
beginning on the closing date of the transaction giving rise to such Change of
Control and ending 12 months after such closing date, the Executive's employment
with the Company (or the successor entity in such Change of Control

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transaction) is either (a) terminated by the Company (or its successor entity)
without Cause or (b) is Constructively Terminated by the Executive, then fifty
percent (50%) of all unvested Stock Rights as of such date shall become fully
vested on the date of such termination.

                  (b)      Termination For Cause. If the Executive's employment
terminates by reason of the Executive's voluntary resignation (and is not a
Constructive Termination), or if the Executive is terminated for Cause, then the
Executive shall not be entitled to receive the accelerated vesting of Stock
Rights set forth in Section 3(a) above.

                  (c)      Termination Apart from Change of Control. In the
event the Executive's employment is terminated for any reason, either prior to
the occurrence of a Change of Control or after the twelve (12)-month period
following a Change of Control, then the Executive will be entitled to receive
severance and any other benefits only as may then be established under the
Company's existing written severance and benefits plans and practices or
pursuant to other written agreements with the Company.

         4.       Definition of Terms. The following terms referred to in this
Agreement shall have the following meanings:

                  (a)      Cause. "Cause" means (i) the Executive's failure to
perform (other than due to mental or physical disability or death) the duties of
Executive's position (as they may exist from time to time) to the reasonable
satisfaction of the Company (or the successor corporation) after receipt of a
written warning and failure to cure any such non-performance within ten business
days of receipt of such written warning; (ii) any act of dishonesty taken in
connection with the Executive's responsibilities as an Executive that is
intended to result in such Executive's personal enrichment; (iii) the
Executive's conviction or plea of no contest to a crime that negatively reflects
on the Executive's fitness to perform Executive's duties or harms the Company's
(or the successor corporation's) reputation or business; (iv) willful misconduct
by the Executive that is injurious to the Company's (or the successor
corporation's) reputation or business; or (v) the Executive's willful violation
of a material Company employment policy. For purposes of this definition, an act
or failure to act will be deemed "willful" if effected not in good faith or
without reasonable belief that such action or failure to act was in the best
interests of the Company (or the successor corporation).

                  (b)      "Change in Control" means the occurrence of any of
the following events:

                           (i)      Any "person" (as such term is used in
Sections 13(d) and 14(d) of the Exchange Act) becomes the "beneficial owner" (as
defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of
securities of the Company representing fifty percent (50%) or more of the total
voting power represented by the Company's then outstanding voting securities; or

                           (ii)     The approval by shareholders of the sale or
disposition by the Company of all or substantially all of the Company's assets;

                           (iii)    A change in the composition of the Board
occurring within a two-year period, as a result of which fewer than a majority
of the directors are Incumbent Directors.

                                      -2-
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"Incumbent Directors" means directors who either (A) are Directors as of the
effective date of the Plan, or (B) are elected, or nominated for election, to
the Board with the affirmative votes of at least a majority of the Incumbent
Directors at the time of such election or nomination (but will not include an
individual whose election or nomination is in connection with an actual or
threatened proxy contest relating to the election of directors to the Company);
or

                           (iv)     The approval by shareholders of a merger or
consolidation of the Company with any other corporation, other than a merger or
consolidation which would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the
surviving entity or its parent) at least fifty percent (50%) of the total voting
power represented by the voting securities of the Company or such surviving
entity or its parent outstanding immediately after such merger or consolidation.

         For purposes of clauses (i) and (iii) above, such Change of Control
shall be deemed to have occurred on the date on which the transaction closes;
for the purpose of clauses (ii) and (iv) above, such Change of Control shall be
deemed to have occurred on the date on which the Company's shareholders approve
a transaction described in that clause. Notwithstanding the foregoing, the
reincorporation of the Company in Delaware (or any other jurisdiction) shall not
constitute a Change of Control for purposes of this Agreement.

                  (c)      Constructive Termination. "Constructive Termination"
shall mean the occurrence of any of the following without the Executive's
express written consent (i) the assignment to the Executive of any duties or the
reduction of the Executive's duties, either of which results in a significant
diminution in the Executive's position or responsibilities in effect immediately
prior to such assignment, or the removal of the Executive from such position and
responsibilities, provided, however that changes in the circumstances of
employment which are solely the result of changes in corporate legal structure
resulting directly from the Change of Control shall not constitute a basis for
Constructive Termination; (ii) a substantial reduction, without good business
reasons, of the facilities and perquisites (including office space and location)
available to the Executive immediately prior to such reduction; (iii) a material
reduction by the Company in the cash compensation of the Executive as in effect
immediately prior to such reduction; (iv) a material reduction by the Company in
the kind or level of employee benefits to which the Executive is entitled
immediately prior to such reduction with the result that the Executive's overall
benefits package is significantly reduced; or (v) the relocation of Executive's
principal place of employment to a facility or a location more than 50 miles
from the Executive's then present location.

                  (d)      Stock Rights. "Stock Rights" shall mean all options
or rights to acquire shares of Company Common Stock, or stock appreciation
rights, performance units or performance shares (whether such awards are payable
in cash, shares of Company Common Stock or otherwise), under plans, agreements
or arrangements which are compensatory in nature, including, without limitation,
the Company's 1999 Stock Plan and 2004 Equity Incentive Plan, and any restricted
stock purchase agreement between the Company and the Executive.

         5.       Successors.

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                  (a)      Company's Successors. Any successor to the Company
(whether direct or indirect and whether by purchase, merger, consolidation,
liquidation or otherwise) to all or substantially all of the Company's business
and/or assets shall assume the obligations under this Agreement and agree
expressly to perform the obligations under this Agreement in the same manner and
to the same extent as the Company would be required to perform such obligations
in the absence of a succession. For all purposes under this Agreement, the term
"Company" shall include any successor to the Company's business and/or assets
which executes and delivers the assumption agreement described in this Section
5(a) or which becomes bound by the terms of this Agreement by operation of law.

                  (b)      Executive's Successors. The terms of this Agreement
and all rights of the Executive hereunder shall inure to the benefit of, and be
enforceable by, the Executive's personal or legal representatives, executors,
administrators, successors, heirs, distributees, devisees and legatees.

         6.       Notice.

                  (a)      General. Notices and all other communications
contemplated by this Agreement shall be in writing and shall be deemed to have
been duly given when personally delivered or when mailed by U.S. registered or
certified mail, return receipt requested and postage prepaid. In the case of the
Executive, mailed notices shall be addressed to the Executive at his or her home
address most recently communicated to the Company in writing. In the case of the
Company, mailed notices shall be addressed to its corporate headquarters, and
all notices shall be directed to the attention of its Secretary.

                  (b)      Notice of Termination. Any termination by the Company
for Cause or by the Executive as a result of a voluntary resignation or a
Constructive Termination shall be communicated by a notice of termination to the
other party hereto given in accordance with Section 6(a) of this Agreement. Such
notice shall indicate the specific termination provision in this Agreement
relied upon, shall set forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination under the provision so indicated, and
shall specify the termination date (which shall be not more than 30 days after
the giving of such notice). The failure by the Executive to include in the
notice any fact or circumstance which contributes to a showing of Constructive
Termination shall not waive any right of the Executive hereunder or preclude the
Executive from asserting such fact or circumstance in enforcing Executive's
rights hereunder.

         7.       Miscellaneous Provisions.

                  (a)      No Duty to Mitigate. The Executive shall not be
required to mitigate the amount of any payment contemplated by this Agreement,
nor shall any such payment be reduced by any earnings that the Executive may
receive from any other source.

                  (b)      Waiver. No provision of this Agreement shall be
modified, waived or discharged unless the modification, waiver or discharge is
agreed to in writing and signed by the Executive and by an authorized officer of
the Company (other than the Executive). No waiver by either party of any breach
of, or of compliance with, any condition or provision of this Agreement by

                                      -4-
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the other party shall be considered a waiver of any other condition or provision
or of the same condition or provision at another time.

                  (c)      Headings. All captions and section headings used in
this Agreement are for convenient reference only and do not form a part of this
Agreement.

                  (d)      Whole Agreement. No agreements, representations or
understandings (whether oral or written and whether express or implied) which
are not expressly set forth in this Agreement have been made or entered into by
either party with respect to the subject matter hereof. This Agreement
represents the entire understanding of the parties hereto with respect to the
subject matter hereof and supersedes all prior arrangements and understandings
regarding the same. No future agreements between the Company and the Executive
may supersede this Agreement, unless they are in writing and specifically
mention this Section 7(d).

                  (e)      Choice of Law. The validity, interpretation,
construction and performance of this Agreement shall be governed by the laws of
the State of California (with the exception of its conflict of laws provisions).

                  (f)      Severability. The invalidity or unenforceability of
any provision or provisions of this Agreement shall not affect the validity or
enforceability of any other provision hereof, which shall remain in full force
and effect.

                  (g)      Counterparts. This Agreement may be executed in
counterparts, each of which shall be deemed an original, but all of which
together will constitute one and the same instrument.

                                      * * *

                                      -5-
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         IN WITNESS WHEREOF, each of the parties has executed this Change in
Control Agreement, in the case of the Company by its duly authorized officer, as
of the day and year set forth below.

COMPANY                                      ZIPREALTY, INC.

                                             By: _______________________________

                                             Title: ____________________________

                                             Date: _____________________________

EXECUTIVE                                    ___________________________________

                 [Signature Page to Change of Control Agreement]<PAGE>

                                                                    EXHIBIT 10.8

THE SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE BEEN ACQUIRED FOR INVESTMENT
AND NOT WITH VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF.
NO SUCH SALE OR DISPOSITION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION
STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO THE
COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.

                             STOCK PURCHASE WARRANT
                              To Purchase Shares of
                                 ZIPREALTY, INC.

         THIS CERTIFIES that _________________ (the "Holder") is entitled, upon
the terms and subject to the conditions hereinafter set forth, at any time on or
after the date of this Warrant and on or prior to _______________, 200_, but not
thereafter, to subscribe for and purchase, from ZIPREALTY, INC., a California
corporation (the "Company"), _____________________________ (_____) shares of the
Company's Series E-1 Preferred Stock (the "Shares") at a purchase price per
share equal to $1.31 (the "Exercise Price"). "Shares" shall mean the Series E-1
Preferred Stock of the Company as set forth in the Restated Articles of
Incorporation of the Company attached as Exhibit E to that certain Note and
Warrant Purchase Agreement dated as of February 11, 2002.

         1. Exercise of Warrant.

                  (a) The purchase rights represented by this Warrant are
exercisable by the Holder, in whole or in part, at any time after the date
hereof and before the close of business on _______________, 200_ by the
surrender of this Warrant and the Notice of Exercise annexed hereto duly
executed at the office of the Company, in Emeryville, California (or such other
office or agency of the Company as it may designate by notice in writing to the
Holder at the address of the Holder appearing on the books of the Company), and
upon payment of the Exercise Price of the Shares thereby purchased (by cash or
by check or bank draft payable to the order of the Company in an amount equal to
the Exercise Price of the shares thereby purchased); whereupon the Holder shall
be entitled to receive a certificate for the number of Shares so purchased. The
Company agrees that if at the time of the surrender of this Warrant and purchase
of the Shares, the Holder shall be entitled to exercise this Warrant, the Shares
so purchased shall be and be deemed to be issued to such holder as the record
owner of such Shares as of the close of business on the date on which this
Warrant shall have been exercised as aforesaid.

         Certificates for Shares purchased hereunder shall be delivered to the
Holder within a reasonable time after the date on which this Warrant shall have
been exercised as aforesaid.

         The Company covenants that all Shares which may be issued upon the
exercise of rights represented by this Warrant will, upon exercise of the rights
represented by this Warrant, be fully paid and nonassessable and free from all
taxes, liens and charges in respect of the issue thereof (other than taxes in
respect of any transfer occurring contemporaneously with such issue).

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                  (b) Net Exercise.

                           (i) In lieu of exercising this Warrant by payment of
cash or check the Holder may elect to receive shares equal to the value of this
Warrant (or the portion thereof being exercised) by surrender of this Warrant at
the principal office of the Company together with the Notice of Conversion
annexed hereto, in which event The Company shall issue to Holder a number of
Shares computed using the following formula:

                                  X = Y (A-B)
                                      -------
                                         A

Where    X = The number of Shares to be issued to Holder.

         Y = the number of Shares for which the Warrant is then being exercised.

         A = the fair market value of one Share.

         B = the Exercise Price.

                           (ii) For purposes of this Section 1(b), the fair
market value of the Shares shall mean the price determined by the Company's
Board of Directors, acting in good faith upon a review of all relevant factors
or, in the event of an exercise concurrently with (i) a public offering of the
Company's stock, the price to the public for such stock, or (ii) an acquisition,
the per share price to be received by the holders of Shares.

         2. No Fractional Shares or Scrip. No fractional shares or scrip
representing fractional shares shall be issued upon the exercise of this
Warrant. With respect to any fraction of a share called for upon the exercise of
this Warrant, an amount equal to such fraction multiplied by the then current
price at which each Share may be purchased hereunder shall be paid in cash to
the Holder.

         3. Charges, Taxes and Expenses. Issuance of certificates for Shares
upon the exercise of this Warrant shall be made without charge to the holder
hereof for any issue or transfer tax or other incidental expense in respect of
the issuance of such certificate, all of which taxes and expenses shall be paid
by the Company, and such certificates shall be issued in the name of the Holder.

         4. No Rights as Shareholders. This Warrant does not entitle the Holder
to any voting rights or other rights as a shareholder of the Company prior to
the exercise hereof.

         5. Loss, Theft, Destruction or Mutilation of Warrant. Upon receipt by
the Company of evidence reasonably satisfactory to it of the loss, theft,
destruction or mutilation of this Warrant, and in case of loss, theft or
destruction, of indemnity or security reasonably satisfactory to it, and upon
reimbursement to the Company of all reasonable expenses incidental thereto, and
upon surrender and cancellation of this Warrant, if mutilated, the Company will
make and deliver a new Warrant of like tenor and dated as of such cancellation,
in lieu of this Warrant.

                                                                            -2-
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         6. Saturdays, Sundays, Holidays, etc. If the last or appointed day for
the taking of any action or the expiration of any right required or granted
herein shall be a Saturday or a Sunday or shall be a legal holiday, then such
action may be taken or such right may be exercised on the next succeeding day
not a legal holiday.

         7. Automatic Exercise and Dilution.

                  (a) Automatic Exercise on Merger, etc. If at any time the
Company proposes (A) the acquisition of the Company by another entity by means
of any transaction or series of related transactions (including, without
limitation, any reorganization, merger, consolidation or stock issuance) that
results in the transfer of fifty percent (50%) or more of the then outstanding
voting power of the Company; or (B) a sale of all or substantially all of the
assets of the Company, then the Company shall give the Holder ten (10) days
notice of the proposed effective date of the transaction. If, in the case of an
acquisition of the Company by an entity that has its securities publicly traded
on a national securities exchange, the Warrant has not been exercised by the
effective date of the transaction, the Warrant shall be automatically exercised
in accordance with the Net Exercise provision of Section 1(b) above.

                  (b) Reclassification, etc. If the Company at any time shall,
by subdivision, combination or reclassification of securities or otherwise,
change any of the securities to which purchase rights under this Warrant exist
into the same or a different number of securities of any class or classes, this
Warrant shall thereafter be to acquire such number and kind of securities as
would have been issuable as the result of such change with respect to the
securities which were subject to the purchase rights under this Warrant
immediately prior to such subdivision, combination, reclassification or other
change. If the Shares are subdivided or combined into a greater or smaller
number of Shares, the Exercise Price under this Warrant shall be proportionately
reduced in case of subdivision of shares or proportionately increased in the
case of combination of shares, in both cases by the ratio which the total number
of Shares to be outstanding immediately after such event bears to the total
number of Shares outstanding immediately prior to such event.

                  (c) Cash Distributions. No adjustment on account of cash
dividends or interest on the Shares or other securities purchasable hereunder
will be made to the Exercise Price under this Warrant.

         8. Miscellaneous.

                  (a) Issue Date. The provisions of this Warrant shall be
construed and shall be given effect in all respect as if it had been issued and
delivered by the Company on the date hereof. This Warrant shall be binding upon
any successors or assigns of the Company. This Warrant shall constitute a
contract under the laws of the State of California and for all purposes shall be
construed in accordance with and governed by the laws of said state.

                  (b) Restrictions. The Holder acknowledges that the Shares
acquired upon the exercise of this Warrant may have restrictions upon its resale
imposed by state and federal securities laws.

                                                                            -3-
<PAGE>

                  (c) Waivers and Amendments. This Warrant and any provisions
hereof may be changed, waived, discharged or terminated only by an instrument in
writing signed by the party against which enforcement of the same is sought.

                  (d) Assignment and Transferability. This Warrant may be
assigned or transferred by the Holder only with the prior written approval of
the Company; provided, however, that no such approval of the Company shall be
necessary for an assignment or transfer by a Holder (i) to a fund, partnership,
limited liability company or other entity that is affiliated with such
transferring Holder, (ii) to a partner or member (or retired partner or member)
of such transferring Holder, or to the estate of any such partner or member (or
retired partner or member), (iii) to such transferring Holder's spouse,
siblings, lineal descendants or ancestors by gift, will or intestate succession;
provided, however, that, in the case of (i), (ii) or (iii), the transferee
agrees in writing to be subject to the terms hereof to the same extent as if he,
she or it were an original Holder hereunder.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                                                             -4-

<PAGE>

         IN WITNESS WHEREOF, ZIPREALTY, INC. has caused this Stock Purchase
Warrant to be executed by its officers thereunto duly authorized.

Dated: ____________, 200_

                                                  ZIPREALTY, INC.
                                                  2000 Powell Street, Suite 1555
                                                  Emeryville, CA  94608

                                                  By: __________________________

                                                  Title: _______________________

                                                                             -5-
<PAGE>

                               NOTICE OF EXERCISE

TO:      ZIPREALTY, INC.

         (1) The undersigned hereby elects to purchase ______________ shares of
Series E-1 Preferred Stock (the "Shares") of zipRealty, Inc. pursuant to the
terms of the attached Warrant, and tenders herewith payment of the purchase
price in full, together with all applicable transfer taxes, if any.

         (2) Please issue a certificate or certificates representing the Shares
in the name of the undersigned or in such other name as is specified below:

                  ______________________________________________________________
                                      (Print Name)

                           Address:

                  ______________________________________________________________

                  ______________________________________________________________

                  ______________________________________________________________

         (3) The undersigned confirms that the Shares are being acquired for the
account of the undersigned for investment only and not with a view to, or for
resale in connection with, the distribution thereof and that the undersigned has
no present intention of distributing or selling the Shares.

____________________________               _____________________________________
(Date)                                     (Signature)

                                           _____________________________________
                                           (Print Name)

<PAGE>

                              NOTICE OF CONVERSION

TO:      ZIPREALTY, INC.

         (1) The undersigned hereby elects to convert the attached Warrant into
such number of shares of Series E-1 Preferred Stock (the "Shares") of zipRealty,
Inc. as is determined pursuant to Section 1(b) of such Warrant, which conversion
shall be effected pursuant to the terms of the attached Warrant.

         (2) Please issue a certificate or certificates representing the Shares
in the name of the undersigned or in such other name as is specified below:

                  ______________________________________________________________
                                          (Print Name)

                  Address:

                  ______________________________________________________________

                  ______________________________________________________________

                  ______________________________________________________________

         (3) The undersigned confirms that the Shares are being acquired for the
account of the undersigned for investment only and not with a view to, or for
resale in connection with, the distribution thereof and that the undersigned has
no present intention of distributing or selling the Shares.

___________________________                    _________________________________
(Date)                                         (Signature)

                                               _________________________________
                                               (Print Name)

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