ZETA GLOBAL HOLDINGS CORP.
AMENDMENT TO THE RESTRICTED STOCK PURCHASE AGREEMENT
Zeta Global Holdings Corp. (the Company) is contemplating an initial public offering (IPO) with respect to its shares of Class A common stock (Common Stock). Prior to March 12, 2021, you were granted shares of restricted stock (Shares) pursuant to the Companys 2008 Stock Option/Stock Issuance Plan and/or 2017 Equity Incentive Plan (collectively, the Plan) and Restricted Stock Purchase Agreement(s) thereunder (collectively, the Agreement).
The Companys Board of Directors (the Board) approved this Amendment to the Agreement (the Amendment), pursuant to which the vesting schedule of your Shares will be modified in connection with the IPO and as described in the Buy-Back Program memo to which this Amendment is attached. This Amendment will become effective as of the date upon which the Companys Registration Statement on Form S-1 filed with the Securities and Exchange Commission relating to the IPO becomes effective (the IPO Pricing Date), subject to your continued employment or service with the Company or one of its subsidiaries through such date.
Effective as of the IPO Pricing Date, the Agreement is hereby amended such that 100% of the Shares shall initially constitute Unvested Shares (as defined in the Agreement), except as provided in clause (i) below. Subject to your continued employment or service with the Company or one of its subsidiaries through each applicable vesting date, and except as otherwise provided below, the Shares shall become Vested Shares as follows:
(i) [20%/15%/10%]1 of the Shares shall become Vested Shares on the IPO Pricing Date; and
(ii) The remaining Shares will vest as to 6.25% of the remaining Shares on each three-month anniversary following the one-year anniversary of the IPO Pricing Date.
Any fraction of a Share that would otherwise become a Vested Share will be accumulated and will become a Vested Share only when a whole Vested Share has accumulated. No Vested Shares may be sold until the one-year anniversary of the IPO Pricing Date, except pursuant to the Companys Buy-Back Program on the IPO Pricing Date.
Notwithstanding the foregoing, in the event that, following the IPO Pricing Date, you are terminated by the Company without Cause (as defined below), a number of Shares will vest such that you will be vested in a number of Shares determined by multiplying (x) the total number of Shares subject to the award by (y) a fraction, the numerator of which is the number of full calendar quarters elapsed since the original grant date of the Shares and the denominator of which is 20.
Notwithstanding anything in the Plan or the Agreement to the contrary, Cause means (i) if you are a party to a written employment, severance or consulting agreement with the Company or any of its subsidiaries in which the term cause is defined (a Relevant Agreement), Cause as defined in the Relevant Agreement, and (ii) if no Relevant Agreement exists, (A) your theft, dishonesty, gross negligence, willful misconduct, breach of fiduciary duty for personal profit, or falsification of any Company documents or records; (B) your material failure to abide by the Companys code of conduct or other policies
NOTE: Unless otherwise approved by the Board, 20% for participants with 4+ years of service, 15% for participants with 2-4 years of service, 10% for participants with less than 2 years of service.