SEC Contract Filing

Filing Date: 2017-11-16

Document Content:
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<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>exhibit_10-4.htm
<DESCRIPTION>EXHIBIT 10.4
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<div style="TEXT-ALIGN: right; FONT: bold 10pt/1.25 'Times New Roman', Times, serif"><u>Exhibit 10.4</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">AMENDMENT TO</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">MAGICJACK VOCALTEC LTD</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">2013 STOCK INCENTIVE PLAN</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">RESTRICTED STOCK AGREEMENT</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt">THIS AMENDMENT TO MAGICJACK VOCALTEC LTD 2013 STOCK INCENTIVE PLAN RESTRICTED STOCK AGREEMENT (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Amendment</u></font>&#8221;) is made this 9<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup> day of November, 2017 by and between magicJack VocalTec Ltd. (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Company</u></font>&#8221;) and Thomas E.D. Fuller (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Executive</u></font>&#8221; and, together with the Company, the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Parties</u></font>&#8221;).</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">WHEREAS, </font>the Parties previously entered into that certain magicJack VocalTec Ltd 2013 Stock Incentive Plan Restricted Stock Agreement, dated May 8, 2017 (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Agreement</u></font>&#8221;).</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">WHEREAS,</font> the Company is in the process of negotiating an Agreement and Plan of Merger by and among B. Riley Financial, Inc., B. R. Acquisition Ltd. (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Merger Sub</u></font>&#8221;), and Company, dated November 9, 2017, pursuant to which the Parties contemplate that the Merger Sub will be merged with and into the Company (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Merger Agreement</u></font>&#8221;).&#160; The transactions contemplated by the Merger Agreement would, if consummated, constitute a &#8220;Change of Control&#8221; entitling the Executive to payment of the &#8220;Special Transaction Bonus,&#8221; as such terms are defined by, and pursuant to the terms of, that certain Executive Employment Agreement between the Parties dated May 8, 2017, (as amended from time to time, the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Employment Agreement</u></font>&#8221;), provided the transactions are consummated prior to May 8, 2018 (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Transaction Deadline</u></font>&#8221;) and further provided that the Executive continues to be employed by the Company at such time.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">WHEREAS, </font>given the complexities of the contemplated transactions, the Parties agree that it is reasonable to modify the Transaction Deadline in a manner that will allow the Executive the opportunity to earn the Special Transaction Bonus either (i) if any Change of Control is consummated by May 8, 2018 or (ii) upon the occurrence of the Closing (as such term is defined in the Merger Agreement) at any time.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">WHEREAS, </font>the Parties further agree that the modification of the Transaction Deadline would warrant a corresponding modification to the vesting provisions o