AMENDMENT TO RESTRICTED STOCK AGREEMENT
Exhibit
10.4
AMENDMENT
TO RESTRICTED STOCK AGREEMENT
THIS
AMENDMENT TO RESTRICTED STOCK AGREEMENT
(the
“Amendment”) is made and entered into as of the 18th
day of
February, 2008 by and between SMART
ONLINE, INC.,
a
Delaware company (the “Company”) and XXXXXX
X.
XXXXXXXXX
(the
“Employee”).
WHEREAS,
the Company and Employee are parties to an Restricted Stock Agreement dated
August 15, 2007 (the “Agreement”); and
WHEREAS,
the Company and Employee have agreed to amend the Agreement as set forth
below.
NOW,
THEREFORE, in consideration of the mutual covenants and agreements set forth
below, and other good and valuable consideration, the receipt and sufficiency
of
which are hereby acknowledged, the Company and Employee agree that the Agreement
shall be amended as follows:
1. Section
4(a) of the Agreement is hereby amended by adding the following sentence to
the
end of the first paragraph in Section 4(a):
“Notwithstanding
the foregoing, with respect to the quarterly increment of 3,125 shares of
restricted stock for which the restriction would expire on May 15, 2008, that
date will be February 18, 2008.”
2. Except
as
amended hereby, the Agreement shall remain in full force and effect and is
hereby ratified and confirmed by the Company and Employee in all
respects.
[Remainder
of the page intentionally left blank.]
IN
WITNESS WHEREOF, this Amendment has been duly executed as of the day and year
set forth above.
| SMART ONLINE, INC. | ||
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By:
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/s/
Xxxxx Xxxxxxx
|
|
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Name:
|
Xxxxx
Xxxxxxx
|
|
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Title:
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President/CEO
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Xxxxxx
X. Xxxxxxxxx
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