Document:

EX-10.20

 EXHIBIT 10.20 

EXECUTIVE EMPLOYMENT AGREEMENT 

THIS EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is entered into effective as of the ____ day of ________ 2021
(the “Effective Date”) by and between Zeta Global Corp., a Delaware corporation having its principal offices in New York, New York (the “Company,” which term shall include all respective parents,
subsidiaries, affiliates, and entities of the Company, and its and their respective successors and assigns, including but not limited to Zeta Global Holding Corp.), and Christopher Greiner (the “Executive”). 

WHEREAS, the Company desires to continue to employ Executive as its Chief Financial Officer and Executive desires to continue to serve in such
capacity on behalf of the Company, upon the terms and conditions hereinafter set forth; 
 WHEREAS, Executive acknowledges that Executive
has had an opportunity to consider this Agreement and to consult with an independent advisor of Executive’s choosing with regard to the terms of this Agreement, and enters into this Agreement voluntarily and with a full understanding of its
terms; and 
 NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows: 

1. Employment. 

1.1 Employment Period. Subject to the provisions for earlier termination provided herein, Executive’s employment hereunder shall be
for a two (2) year term commencing on the Effective Date and ending on [DATE] (the “Initial Employment Period”); provided, however, that this Agreement shall automatically renew for successive one (1) year periods
thereafter (each a “Renewal Period” and together with the Initial Employment Period, the “Employment Period”), unless at least ninety (90) days prior to the end of the Initial Employment Period or
any Renewal Period one party notifies the other in writing that he/it is exercising the option not to renew the term of this Agreement. The non-renewal of this Agreement in the absence of an employment
agreement on substantially the same terms as this Agreement or a mutually acceptable successor employment agreement shall be deemed a termination of Executive’s employment without Cause (pursuant to Section 3.1(a) or Section 3.2(a)
below, as applicable), effective as of the last day of the then-current Employment Period. For the avoidance of doubt, it shall not be deemed a termination of Executive’s employment without Cause (pursuant to Section 3.1(a) or
Section 3.2(a) below, as applicable) if the Company offers Executive at the end of the Initial Employment Period or any Renewal Period, and Executive rejects, this Agreement or an employment agreement on substantially the same terms as this
Agreement. 
 1.2 Duties and Responsibilities. Executive shall continue to serve as the Chief Financial Officer of the Company during
the Employment Period, reporting to the Chief Executive Officer. In such position, the Executive shall have such duties, authority and responsibility as shall be determined from time to time by the Chief Executive Officer, which duties, authority
and responsibility are consistent with the Executive’s position. 

 1.3 Extent of Services. Executive shall use Executive’s best efforts to
carry out Executive’s duties and responsibilities under Section 1.2 hereof and, consistent with the other provisions of this Agreement, shall devote substantially all of Executive’s business time, attention and energy thereto. In the
performance of Executive’s duties, Executive shall observe and adhere to all Company policies and procedures applicable generally to employees of the Company or to the Company’s senior level executives, as may be adopted, revised or
deleted from time to time in the Company’s sole discretion. Except with the prior consent of the Company’s Board of Directors (the “Board”), Executive shall not, during the Employment Period, undertake or engage in
any other employment, occupation or business enterprise that would interfere in any material way with Executive’s responsibilities and the performance of Executive’s duties hereunder, provided that, for the avoidance of doubt, Executive
shall be permitted to (a) devote reasonable time to volunteer services for or on behalf of such religious, educational, non-profit and/or other charitable organization as Executive may wish to serve, (b) devote reasonable
time to activities in the non-profit and business communities consistent with Executive’s duties, and (c) engage in such other activities as may be disclosed to the Board and the Company’s General Counsel that relate to
Executive’s personal investments and/or investments of the Company’s shareholders, including but not limited to CAIVIS Investment Company V, LLC, and its affiliates, and Kica Investments, LLC, and its affiliates (the activities set forth
in (a) through (c), the “Permitted Outside Activities”). In addition, and for the further avoidance of doubt, the foregoing shall not be construed as preventing Executive from owning less than five percent (5%) of
the total outstanding shares of a publicly traded company. 
 1.4 Principal Location of Services. Executive shall perform
Executive’s duties hereunder principally out of the Company’s corporate headquarters (presently located in New York, New York) and shall undertake such travel within or outside of the United States as is necessary or advisable for the
efficient operations of the Company. 
 2. Compensation and Benefits. 

2.1 Base Salary. The Company shall pay Executive a base salary at the annual rate of Five-hundred thousand dollars $500,000
payable in accordance with the normal payroll practices of the Company for its senior level executives as in effect from time to time (but no less frequently than monthly), which base salary shall be subject to annual review and may be increased but
not decreased by the Company. Such base salary, as from time to time may be increased, is hereafter referred to as the “Base Salary.” 

2.2 IPO Cash Bonus. Executive shall be entitled to a discretionary IPO cash bonus payment, which if paid, will be paid in full no later
than March 15, 2022, except in the event that Executive is terminated for Cause (in accordance with the notice and, if applicable, cure provisions set forth in Section 3.8 below) prior to December 31, 2021. 

2.3 Annual Discretionary Cash Bonus. For each fiscal year during the Employment Period, commencing with the January 1, 2022–
December 31, 2022 fiscal year, Executive shall be eligible to receive an annual discretionary cash bonus (the “Annual Bonus”). The amount of the Annual Bonus, if any, will be determined by the Compensation Committee of the
Board (the “Compensation Committee”) in its discretion, based on Executive’s individual performance and Company performance, in each case measured against performance goals and targets established by the Compensation
Committee during the first (1st) quarter of the applicable fiscal year after consultation with Executive; provided, however, any such determinations shall be in the sole and

 
absolute discretion of the Compensation Committee. Executive’s Annual Bonus target is one-hundred percent (100%) (or such higher percentage determined
by the Compensation Committee from time to time) of Executive’s Base Salary rate for the applicable fiscal year (as may be increased during such fiscal year) (the “Target Bonus”). The amount of the Annual Bonus, if
any, will be determined as of the end of each fiscal year during the Employment Period and shall be paid as soon as reasonably practicable after the end of each fiscal year to which the bonus relates, but in no event later than 2-1⁄2 months after the end of such fiscal year. 

2.4 Equity Compensation. 

(a) Initial Equity Grant. As soon as practicable after the pricing of an initial public offering of Zeta Global Holding
Corp.’s (“Holdco’s”) capital stock (the “IPO”), and subject to Executive’s continued employment through such date, the Company shall grant to Executive
100,000 shares of Restricted Stock (the “IPO Restricted Stock Grant”) pursuant to the Zeta Global Holding Corp. 2021 Incentive Award Plan (the “Plan”). The IPO Restricted Stock Grant will vest as
follows: (i) 25% shall vest on the 12-month anniversary of the grant date; and (ii) the remaining 75% shall vest in 12 substantially equal, consecutive three-month installments thereafter. The IPO
Restricted Stock Grant will be subject to the terms and conditions of the appropriate form of Restricted Stock agreement approved by the Company for use under the Plan. 

(b) Annual Equity Grants. Executive shall be eligible to receive annual equity grants, at such time as annual equity grants are
made to other executives, in such amounts, types and terms as determined in the sole discretion of the Board based on Executive’s individual performance and the performance of the Company. The terms and conditions of the annual equity grant
will be established by the Board at the time of the grant and will be subject to the terms of the Company’s applicable equity plan and form of equity award agreement. Annual equity grants shall be subject to reevaluation each performance period
based on peer market data. 
 (c) Accelerated Vesting Upon Completion of Secondary Offering. In the event that the Company completes
additional secondary offerings of its common stock, all Pre-IPO Awards shall, at the option of the Board, become vested such that the number of unvested equity awards multiplied by a percentage equal to
(I) the number of shares sold in the offering divided by (II) the number of common shares outstanding as of the effective date of this Agreement, shall become fully vested. Any such accelerated awards (i) in the form of options shall
be immediately exercisable and (ii) in the form of restricted stock units, restricted stock or other stock awards outstanding shall vest and be settled, upon the closing of the secondary offering provided that the Executive has remained in
continuous service through the closing. In addition, at Executive’s option, Executive may sell such Pre-IPO Awards that vest as part of such secondary offering. Any remaining equity awards will continue
to be subject to their original vesting terms and conditions on a pro rata basis. 
 (d) Accelerated Vesting of Pre-IPO Awards Upon Change of Control. Provided that the Executive has remained in continued service with the Company, all outstanding Pre-IPO Awards shall, at the option
of the Board, be fully vested and exercisable or settled, as applicable immediately prior to and contingent upon a Change of Control.1 

 

	1 	 Steve to discuss with David. Confirm whether vesting should be automatic on a Change in Control or as
determined in discretion of Board. 

 (e) Accelerated Vesting Upon Termination. In the event of a termination of
Executive’s employment pursuant to any of Section 3.1, Section 3.2, Section 3.3 or Section 3.4, Executive’s outstanding equity shall be subject to the following: (i) full vesting and either exercisability or
settlement, as applicable, of all time-based equity grants regardless of grant date, including, without limitation, the Pre-IPO Awards and the IPO Restricted Stock Grant and (ii) full vesting and either
exercisability or settlement, as applicable, of all performance-based equity grants based on satisfaction of applicable performance conditions within 12 months of Executive’s termination. All outstanding equity grants shall fully vest (and
become exercisable or settled, as applicable) upon a Change of Control (as defined herein). 
 2.5 Retirement and Welfare Plans.
During the Employment Period, Executive shall be eligible to participate in employee retirement and welfare benefit plans made available to the Company’s senior level executives as a group or to its employees generally, as such retirement and
welfare plans may be in effect from time to time and subject to the eligibility requirements of the plans. Nothing in this Agreement shall prevent the Company from amending or terminating any retirement, welfare or other employee benefit plans or
programs from time to time in a manner that applies no less favorably to Executive than similarly situated employees or senior level executives of the Company, as the Company deems appropriate. 

2.6 Vacation. Executive shall be subject in all respects to the terms and conditions of the Company’s paid time off policy (which
presently allows for unlimited PTO), as may be in effect from time to time, provided that should the Company change its unlimited PTO policy in the future, in no event shall Executive be entitled to take less than four (4) weeks of annual paid
vacation. 
 2.7 Reimbursement of Expenses. Executive shall be reimbursed for all customary and appropriate business-related expenses
actually incurred and documented in accordance with the Company’s policies applicable to senior level executives. 
 2.8
Indemnification; D&O Insurance. The Company shall indemnify Executive to the maximum extent permitted by law and its articles of incorporation and by-laws. The Company shall at all times maintain
directors’ and officers’ liability insurance under which Executive shall be covered on a basis that is no less favorable in any respect than the coverage provided to any then-current director or officer of the Company. 

 3. Termination. Notwithstanding Section 1, Executive’s
employment shall terminate, and the Employment Period shall terminate concurrently therewith, upon the occurrence of any of the following events: 

3.1 Termination Without Cause, Resignation for Good Reason, or Company Non-Renewal of the Employment
Period Before a Change of Control. 
 (a) The Company may terminate Executive at any time without Cause (as defined in Section 3.8)
prior to the expiration of the then-current Employment Period from the position in which Executive is employed hereunder upon not less than thirty (30) days’ prior written notice to Executive, and the Company may terminate Executive upon
the last day of the then-current Employment Period by providing the requisite notice not to renew in accordance with Section 1.1 above. The Company shall have the discretion to place Executive on “garden leave,” and to not require or
permit Executive to report to work or to provide any continued services, during the notice period, and the last day of any such notice period shall be the effective date of termination of Executive’s employment as an active employee. In
addition, Executive may initiate a termination of employment by resigning under this Section 3.1 for Good Reason (as defined in, and in accordance with the notice provisions set forth in, Section 3.8) prior to the expiration of the
then-current Employment Period. 
 (b) Upon termination under this Section 3.1, Executive shall receive (i) Executive’s
accrued but unpaid Base Salary through the date of termination, (ii) any unreimbursed business expenses incurred by Executive and payable in accordance with the Company’s standard expense reimbursement policies, (iii) benefits earned,
accrued and due under any retirement plan, health and welfare benefit plan in which Executive was a participant in accordance with applicable law and the provisions of such plan, and (iv) any then-accrued-but-unused vacation (collectively, the “Guaranteed Payments”). With the exception of unreimbursed business expenses, which shall be paid in accordance with Company policy
and Section 19 of this Agreement, Executive will be paid the Guaranteed Payments on the Company’s first (1st) payroll date after Executive’s date of termination, or earlier if
required by applicable law. 
 (c) If Executive’s employment terminates as described in Section 3.1(a) above prior to or in
connection with the expiration of the then-current Employment Period and if Executive executes within twenty-one (21) days (or forty-five (45) days to the extent required by applicable law)
thereafter and does not revoke a written release of claims in a form mutually acceptable to Executive and the Company releasing the Company from any and all claims with respect to all matters arising out of or related to Executive’s employment
by the Company or the termination thereof (the “Release”), Executive will be entitled to receive the benefits described below (collectively, the “Severance”): 

(i) Executive shall receive cash severance in an amount equal to one (1) times the sum of Executive’s Base Salary and
Executive’s Target Bonus (in each case determined without regard to any reduction in Base Salary or Target Bonus giving rise to Good Reason). The severance amount, less all required withholdings and deductions, shall be paid during the one
(1) year period commencing on Executive’s date of termination in substantially equal installments consistent with the Company’s regularly scheduled payroll until the Severance has been paid in full (the “Severance
Period”), subject to Section 3.1(d) below; provided, that upon a Change of Control occurring after Executive’s date of termination, all then-unpaid installments pursuant to this paragraph (i) shall be paid in a lump sum
upon the consummation of such Change of Control. 

 (ii) Executive shall receive Executive’s Target Bonus for the fiscal year in which
Executive’s employment is terminated, prorated based on the number of days Executive is employed during such fiscal year based on target performance (the “Prorated Bonus”). The Prorated Bonus shall be paid at the same
time as other executive bonuses are paid. 
 (iii) Executive shall receive any earned-but-unpaid Annual Bonus for the most-recently completed fiscal year of the Company. The prior-year earned Annual Bonus shall be paid as soon as reasonably practicable after the end of the fiscal year
to which it relates, but in no event later than 2-1⁄2 months after the end of the fiscal year. 

(iv) The Company shall, for the twelve (12) full calendar months commencing with the month immediately following Executive’s date of
termination, pay Executive each month an amount equal to the monthly COBRA medical insurance cost under the Company’s medical plan for Executive, and, where applicable, Executive’s spouse and eligible dependents, less an amount equal to
the required monthly employee payment for such coverage calculated as if Executive had continued to be an employee of the Company throughout such period. 

(d) Except as otherwise required by Section 3.9, the benefits described in subsections (i) and (iv) above shall begin within sixty
(60) days after Executive’s termination date, provided Executive has timely executed and not revoked the Release within such sixty (60) day period, and provided that, notwithstanding any provision of this Agreement to the contrary, in
no event shall the timing of Executive’s execution of the Release, directly or indirectly, result in Executive’s designating the calendar year of payment, and if a payment that is “nonqualified deferred compensation” as defined
under Section 409A of the Code (“Section 409A”) is subject to execution of the Release could be made in more than one taxable year, payment shall be made in the later taxable year. 

(e) Executive agrees and acknowledges that the Severance provided to Executive pursuant to Section 3.1(c) is in lieu of, and is not in
addition to, any benefits to which Executive may otherwise be entitled under any Company severance plan, policy, or program, other than the Guaranteed Payments. 

3.2 Termination Without Cause, Resignation for Good Reason, or Company Non-Renewal of the Employment
Period After a Change of Control. 
 (a) If a Change of Control occurs and, during the 24-month
period commencing on the date of the Change of Control, the Company terminates Executive’s employment without Cause or Executive resigns for Good Reason (in accordance with the notice provisions set forth in Section 3.8) prior to the
expiration of the then-current Employment Period, (or the Company terminates Executive upon the last day of the then-current Employment Period by providing the requisite notice not to renew in accordance with Section 1.1 above), this
Section 3.2 shall apply in lieu of Section 3.1. 

 (b) Upon termination under this Section 3.2, Executive shall receive the Guaranteed
Payments. With the exception of unreimbursed business expenses, which shall be paid in accordance with Company policy and Section 19 of this Agreement, Executive will be paid the Guaranteed Payments on the Company’s first payroll date
after Executive’s date of termination from employment, or earlier if required by applicable law. 
 (c) If Executive’s employment
terminates as described in Section 3.2(a) above prior to the expiration of the then-current Employment Period and if, upon such termination, Executive executes within twenty-one (21) days (or
forty-five (45) days to the extent required by applicable law) thereafter and does not revoke a Release (as defined in Section 3.1(c) above), Executive shall be entitled to receive the following payments (collectively, the
“Change of Control Severance”): 
 (i) Executive shall receive severance in an amount equal to two (2) times
the sum of (A) Executive’s then-current Base Salary, plus (B) Executive’s target Annual Bonus for the fiscal year in which Executive’s employment is terminated. The severance amount shall be paid in a single lump-sum payment, less all required withholdings and deductions, subject to Section 3.2(c)(iii) below. 

(ii) Executive shall receive a Prorated Bonus, at the same time as other executive bonuses are paid. Executive shall also receive any earned-but-unpaid Annual Bonus for the most-recently completed fiscal year of the Company, as soon as reasonably practicable after the end of the fiscal year to which it
relates, but in no event later than 2-1⁄2 months after the end of the fiscal year. 

(iii) The Company shall, for a period of eighteen (18) months following the date of Executive’s termination of employment, pay
Executive each month an amount equal to the monthly COBRA medical insurance cost under the Company’s medical plan for Executive, and, where applicable, Executive’s spouse and eligible dependents, less an amount equal to the required
monthly employee payment for such coverage calculated as if Executive had continued to be an employee of the Company throughout such period. 

(iv) Except as otherwise required by Section 3.9, the benefits described in subsections (i) and (ii) above shall be paid or begin,
as the case may be, within sixty (60) days after Executive’s termination date, provided Executive has timely executed and not revoked the Release within such sixty (60) day period; and provided that notwithstanding any provision of
this Agreement to the contrary, in no event shall the timing of Executive’s execution of the Release, directly or indirectly, result in Executive’s designating the calendar year of payment, and if a payment that is “deferred
compensation” as defined under Section 409A of the Code is subject to execution of the Release could be made in more than one taxable year, payment shall be made in the later taxable year. The Company shall provide the Release to Executive
on or before the termination date, and Executive shall execute the Release during the time period permitted by applicable law. 
 (d)
Executive agrees and acknowledges that the Change of Control Severance provided to Executive pursuant to Section 3.2(c) is in lieu of, and not in addition to, any benefits to which Executive may otherwise be entitled under any Company severance
plan, policy, or program, other than the Guaranteed Payments. 

 3.3 Termination by Reason of Disability. Subject to applicable state and federal law,
the Company may terminate Executive’s employment if Executive has been unable to perform the material duties of Executive’s position for a period of ninety (90) consecutive days, or one hundred eighty (180) days in the aggregate
during any twelve (12) month period, in either case because of physical or mental injury or illness (“Disability”). If the Company terminates Executive’s employment for Disability, Executive will not receive the
Severance, the Change of Control Severance or any other severance compensation or benefits, except that the Company shall pay to Executive (i) the Guaranteed Payments and (ii) any earned-but-unpaid Annual Bonus for the most-recently completed fiscal year of the Company, which shall be paid as soon as reasonably practicable after the end of the fiscal year to which it relates, but in no
event later than 2-1⁄2 months after the end of the fiscal year. 

3.4 Termination by Reason of Death. If Executive dies while employed by the Company, all obligations of the Parties hereunder shall
terminate immediately. Executive will not receive the Severance, the Change of Control Severance or any other severance compensation or benefits, except that the Company shall pay to Executive’s executor, legal representative, administrator or
designated beneficiary, as applicable, (i) the Guaranteed Payments and (ii) any earned-but-unpaid Annual Bonus for the most-recently completed fiscal year of
the Company, which shall be paid as soon as reasonably practicable after the end of the fiscal year to which it relates, but in no event later than 2-1⁄2 months after the end of the fiscal year. 
 3.5 Termination for Cause. The Company may terminate
Executive’s employment at any time for Cause upon written notice to Executive (in accordance with the notice and, if applicable, cure provisions set forth in Section 3.8), and Executive may terminate Executive’s employment at any time
without Good Reason or may elect not to renew the then-current Employment Period by providing the requisite notice not to renew in accordance with Section 1.1 above, and in any such event all payments under this Agreement shall cease. Executive
will not receive the Severance, the Change of Control Severance or any other severance compensation or benefits, except that the Company shall pay to Executive the Guaranteed Payments. 

3.6 Notice of Termination. Any termination of Executive’s employment shall be communicated by a written notice of termination to
the other party hereto given in accordance with Section 12. The notice of termination shall (a) indicate the specific termination provision in this Agreement relied upon, (b) briefly summarize the facts and circumstances deemed to
provide a basis for a termination of employment and the applicable provision hereof; provided, that no basis need be provided by the Company in connection with a termination without Cause or a Company
non-renewal of the Employment Period, and (c) specify the termination date in accordance with the requirements of this Agreement. 

3.7 Cooperation with the Company After Termination. Following termination of Executive’s employment for any reason, Executive
agrees to reasonably cooperate with the Company, subject to Executive’s then current professional obligations, in (a) all matters relating to the winding up of Executive’s pending work and the orderly transfer of any such pending work
to such other employees as may be designated by the Company; (b) responding to requests by the 

 
Company for information concerning work performed by Executive during the period of Executive’s employment with the Company and with regard to any matters that relate to or arise out of the
business of the Company during the period of Executive’s employment and about which Executive may have knowledge, and; (c) any investigation or review that may be performed by the Company or any government authority or in any litigation in
which the Company may become involved, as may be reasonably requested and after taking into account Executive’s post-termination responsibilities and obligations. The Company shall reimburse (or advance, as may be applicable) Executive any
reasonable out-of-pocket expenses necessary for the Executive to comply with the obligations under this Section (including reasonable travel expenses, lodging and meals;
and reasonable attorney fees and disbursements to the extent approved in advance by the Company (such approval not to be unreasonably withheld)). Moreover, the Company shall compensate Executive at an hourly rate based on Executive’s Base
Salary on the termination date for time spent by Executive to comply with the obligations under this Section, unless Executive is then receiving continued payment of his Base Salary during the Severance Period, in which case Executive is not
entitled to further compensation for compliance with the obligations set forth in this Section. 
 3.8 Definitions. 

(a) “Cause” shall mean any of the following grounds for termination of Executive’s employment: 

(i) Executive’s conviction of a felony or enters a plea of guilty or nolo contendere with respect thereto which is reasonably
likely to adversely and significantly affect the business of the Company; 
 (ii) Executive’s willful, repeated failure or refusal to
perform Executive’s reasonably assigned duties for the Company (other than a failure resulting from Executive’s incapacity due to physical or mental illness) which is materially harmful to the business, property or public reputation of the
Company; 
 (iii) Executive engages in willful misconduct in the performance of Executive’s duties, including but not limited to any
act of material dishonesty, fraud, or immoral or disreputable conduct, which is materially harmful to the business, property or public reputation of the Company; 

(iv) Executive materially breaches any covenant or condition of this Agreement, or materially breaches Executive’s fiduciary duty to the
Company which is reasonably likely to adversely and significantly affect the business of the Company. 
 For purposes of this Agreement, the
Company shall not have Cause to terminate Executive’s employment unless (i) the Company reasonably determines in good faith that a “Cause” condition under such clauses has occurred; (ii) the Company notifies Executive in
writing of the occurrence of the Cause condition within sixty (60) days of the Company’s first becoming aware of such occurrence; (iii) Executive fails to cure any such Cause condition, to the extent curable, within thirty
(30) days of such notice (the “Cause Cure Period”); (iv) notwithstanding such efforts, the Cause condition continues to exist; and (v) the Company terminates Executive’s employment within sixty
(60) days after the end of the Cause Cure Period. If Executive cures the Cause condition during the Cause Cure Period, Cause shall be deemed not to have occurred. 

 Moreover, for purposes of this Agreement, no act or failure to act by Executive shall be
considered “willful” unless done or omitted to be done by Executive in bad faith and without reasonable belief that Executive’s action or omission was in the best interests of the Company. Any act, or failure to act, by Executive
based upon express direction from the Company shall be conclusively presumed to be done, or omitted to be done, by Executive in good faith and in the best interests of the Company. 

(b) “Change of Control” shall mean: 

(i) A merger, consolidation, reorganization, or similar form of corporate transaction approved by the Company’s stockholders, unless
securities representing more than fifty percent (50%) of the total and combined voting power of the outstanding voting securities of the successor corporation are immediately thereafter beneficially owned, directly or indirectly, by the persons who
beneficially owned the Company’s outstanding voting securities immediately prior to such transaction; or 
 (ii) The sale, transfer or
other disposition of Company assets (including by way of merger or spin-off of any subsidiary or subsidiaries of the Company) occurring within a twelve (12) month period and representing, at a minimum,
not less than forty percent (40%) of the total gross fair market value of all assets of the Company, to any person, entity, or group of persons acting in consort, other than a sale, transfer or disposition to: (A) a stockholder of the Company
in exchange for or with respect to its stock; (B) an entity, fifty percent (50%) or more of the total value or voting power of which is owned, directly or indirectly, by the Company; (C) a person, or more than one person acting as a group,
that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of the outstanding stock of the Company; or (D) an entity, at least fifty percent (50%) of the total value or voting power of which is owned by a
person described in (C); or 
 (iii) Any transaction or series of related transactions pursuant to which any person or any group of persons
comprising a “group” within the meaning of Rule 13d-5(b)(l) under the Securities Exchange Act of 1934, as amended (other than the Company or a person that, prior to such transaction or series of
related transactions, directly or indirectly controls, is controlled by or is under common control with, the Company) acquires (or has acquired during the 12-month period ending on the date of the most recent
acquisition by such person or persons) securities possessing (or convertible into or exercisable for securities possessing) more than thirty percent (30%) of the total combined voting power of the Company’s securities outstanding immediately
after the consummation of such transaction or series of related transactions, whether such transaction involves a direct issuance from the Company or the acquisition of outstanding securities held by one or more of the Company’s stockholders;
or 
 (iv) The consummation of a Change in Control (as defined in the Plan). 

 A transaction shall not constitute a Change of Control if its sole purpose is to change the
state of the Company’s incorporation or to create a holding company that will be owned in the same proportions by the persons who held the Company’s securities immediately before such transaction. A Change of Control shall not include a
public offering of capital stock of Company. To the extent necessary to comply with the provisions of the provisions of Section 409A of the Internal Revenue Code, the definition of “Change of Control” shall be interpreted to comply
with the provisions of Internal Revenue Code Section 409A and within the meaning of Treasury Regulation section 1.409A-3(i)(5). 

(c) “Good Reason” shall mean the occurrence of any of the following events or conditions, unless Executive has
expressly consented in writing thereto, or except as a result of Executive’s physical or mental incapacity or as described in the last sentence of this subsection (c): 

(i) A reduction in Executive’s Base Salary or Target Bonus; 

(ii) The material diminution of Executive’s duties, responsibilities, powers or authorities, including, without limitation, the
assignment of any duties and responsibilities materially inconsistent with Executive’s position as Chief Financial Officer, including a change in Executive’s reporting responsibilities, provided that Good Reason shall not exist under this
clause (ii) if such diminution is result of: (1) the hiring of additional subordinates to fill some of Executive’s duties and responsibilities, (2) any disposition or sale of any subsidiary or business of the Company, or
(3) Executive’s prior written consent; 
 (iii) The Company requires that Executive’s principal office location be moved to a
location more than fifty (50) miles from Executive’s principal office location immediately before the change without the Executive’s prior consent; 

(iv) A material breach by the Company of this Agreement or a material breach by the Company or any of its subsidiaries of any other written
agreement between Executive and the Company or any of its subsidiaries, including without limitation any equity-based award agreement; and 

(v) A failure or refusal of a successor to the Company to assume the Company’s obligations under this Agreement in the event of a Change
of Control. 
 For purposes of this Agreement, Executive shall not have Good Reason for termination unless (i) Executive reasonably
determines in good faith that a “Good Reason” condition has occurred; (ii) Executive notifies the Company in writing of the occurrence of the Good Reason condition within sixty (60) days of Executive’s first becoming aware
of such occurrence; (iii) Executive cooperates in good faith with the Company’s efforts, for a period not less than thirty (30) days following such notice (the “Good Reason Cure Period”), to cure the condition,
to the extent curable; (iv) notwithstanding such efforts, the Good Reason condition continues to exist; and (v) Executive terminates Executive’s employment within sixty (60) days after the end of the Good Reason Cure Period. If
the Company cures the Good Reason condition during the Good Reason Cure Period, Good Reason shall be deemed not to have occurred. 

 3.9 Required Postponement for Specified Executives. If Executive is considered a
“specified employee” (as defined under Section 409A) and payment of any amounts under this Agreement is required to be delayed for a period of six (6) months after separation from service pursuant to Section 409A, payment of
such amounts shall be delayed as required by Section 409A, and the accumulated postponed amounts, shall be paid in a lump-sum payment within five (5) days after the end of the six (6) month
period. If Executive dies during the postponement period prior to the payment of benefits, the amounts postponed on account of Section 409A, shall be paid to the personal representative of Executive’s estate within sixty (60) days
after the date of Executive’s death. 
 3.10 No Mitigation; No Offset. In the event of any termination of Executive’s
employment hereunder for any reason, Executive shall be under no obligation to seek other employment or to otherwise mitigate the obligations of the Company under this Agreement. There shall be no offset against amounts due to Executive under this
Agreement on account of any remuneration or other benefit earned or received by Executive after such termination or on account of any claim that the Company or any of its affiliates may have against him. 

4. Non-Exclusivity of Rights. Nothing in this Agreement shall prevent or limit
Executive’s continuing or future participation in or rights under any benefit, bonus, incentive or other plan or program provided by the Company and for which Executive may qualify; provided, however, that if Executive becomes entitled to and
receives the Severance or Change of Control Severance provided for in Section 3 of this Agreement, Executive hereby waives Executive’s right to receive payments under any severance plan or similar program that would otherwise apply to
Executive. 
 5. Confidentiality. Executive agrees that Executive’s services to the Company are of a special,
unique and extraordinary character, and that Executive’s position places Executive in a position of confidence and trust with the Company’s customers and employees. Executive also recognizes that Executive’s position with the Company
will give Executive substantial access to Confidential Information (as defined below), the disclosure of which to competitors of the Company would cause the Company to suffer substantial and irreparable damage. Executive recognizes, therefore, that
it is in the Company’s legitimate business interest to restrict Executive’s use of Confidential Information for any purposes other than the discharge of Executive’s employment duties at the Company or as otherwise set forth herein,
and to limit any potential appropriation of Confidential Information by Executive for the benefit of the Company’s competitors and/or to the detriment of the Company. Accordingly, Executive agrees as follows: 

(a) Executive will not at any time, whether during or after the termination of Executive’s employment for any reason, reveal to any person
or entity any of the trade secrets or confidential information of the Company or of any third party which the Company is under an obligation to keep confidential (including but not limited to trade secrets or confidential information respecting
inventions, products, designs, methods, know-how, techniques, systems, processes, software programs, works of authorship, projects, plans and proposals) (“Confidential Information”),
except as may be required in the ordinary course of performing Executive’s duties as an employee of the Company, and Executive shall keep secret all matters entrusted to Executive and shall not use or attempt to use any such information in any
manner which may injure or cause loss or may be calculated to injure or cause loss whether directly or indirectly to the Company. 

 (b) The above restrictions shall not apply to: (i) information that at the time of
disclosure has become available to the public or is in the public domain through no fault of Executive; (ii) information received from a third party outside of the Company that was disclosed without a breach of any confidentiality obligation;
(iii) information approved for release or disclosure by an authorized officer of the Company or (iv) information that may be required by law or pursuant to legal process or an order of any court, agency, or proceeding to be disclosed;
provided that Executive shall provide the Company prior written notice of any such required disclosure once Executive has knowledge of it and will help the Company to the extent reasonable to obtain an appropriate protective order. Moreover, the
foregoing shall not limit Executive’s ability to (i) discuss the terms of Executive’s employment, wages and working conditions to the extent expressly protected by applicable law, (ii) report possible violations of federal
securities laws to the appropriate government enforcing agency and make such other disclosures that are expressly protected under federal or state “whistleblower” laws, (iii) respond to inquiries from, or otherwise cooperate with, any
governmental or regulatory investigation, or (iv) enforce Executive’s rights as may be necessary under any agreement between the Executive, on the one hand, and the Company, on the other hand. For the avoidance of doubt, the
confidentiality obligations under this Agreement shall not apply to information generally known by Executive as a result of Executive’s long-standing experience in the industry or learned as a result of Executive’s Permitted Outside
Activities. 
 (c) Executive agrees that during Executive’s employment Executive shall not take, use or permit to be used any notes,
memoranda, reports, lists, records, drawings, sketches, specifications, software programs, data, documentation or other materials of any nature relating to any matter within the scope of the business of the Company or concerning any of its dealings
or affairs otherwise than for the benefit of the Company. Executive further agrees that Executive shall not, after the termination of Executive’s employment for any reason, use or permit to be used any such notes, memoranda, reports, lists,
records, drawings, sketches, specifications, software programs, data, documentation or other materials, it being agreed that all of the foregoing shall be and remain the sole and exclusive property of the Company and that, immediately upon the
termination of Executive’s employment for any reason, Executive shall deliver all of the foregoing, and all copies thereof, to the Company, at its main office. For the avoidance of doubt, following a termination of Executive’s employment,
Executive shall be entitled to retain (i) papers and other materials of a personal nature, including, but not limited to, photographs, personal correspondence, personal diaries, personal calendars, and electronic contacts and/or rolodexes,
(ii) information relating to Executive’s equity, compensation, or expense reimbursements, (iii) information that Executive reasonably believes may be needed for his personal tax purposes, and (iv) copies of employee benefit and
compensation plans and policies of the Company in which Executive participated as of the date of his termination of employment. 
 (d)
Executive agrees that upon the termination of Executive’s employment with the Company for any reason, Executive will not take or retain without authorization any documents, files or other property of the Company, and Executive will return
promptly to the Company any such documents, files or property in Executive’s possession or custody, including any copies thereof maintained in any medium or format. Executive recognizes that all documents, files and property that Executive has
received and will receive from the Company, including but not limited to scientific research, customer lists, handbooks, memoranda, product specifications, and other materials (with the exception of documents relating to benefits to which Executive
might be entitled following the termination of Executive’s employment with the Company), are for the exclusive use of the Company and employees who are discharging their responsibilities on behalf of the Company, and that Executive has no claim
or right to the continued use, possession, or custody of such documents, files or property following the termination of Executive’s employment with the Company for any reason. 

 (e) Pursuant to the Defend Trade Secrets Act of 2016, Executive acknowledges that Executive
will not have criminal or civil liability under any federal or state trade secret law for the disclosure of a trade secret that (i) is made (A) in confidence to a federal, state, or local government official, either directly or indirectly,
or to an attorney and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding if such filing is made under seal. In
addition, if Executive files a lawsuit for alleged retaliation by the Company for reporting a suspected violation of law, Executive may disclose the trade secret to Executive’s attorney and may use the trade secret information in the court
proceeding if Executive (i) files any document containing the trade secret under seal and (ii) does not disclose the trade secret, except pursuant to court order. 

6. Intellectual Property. 

(a) If, in the performance of Executive’s duties to the Company, Executive shall (either alone or with others) make, conceive, discover or
reduce to practice any invention, modification, discovery, design, development, improvement, process, software program, work of authorship, documentation, formula, data, technique, know-how, secret or
intellectual property right whatsoever or any interest therein (whether or not patentable or registrable under copyright or similar statutes or subject to analogous protection) (herein called “Developments”) that
(i) relates to the business of the Company or any customer of or supplier to the Company or any of the products or services being developed, manufactured or sold by the Company or which may be used in relation therewith, (ii) results from
tasks assigned to Executive by the Company, (iii) results from the use of business premises or property (whether tangible or intangible) owned, leased or contracted for by the Company, and (iv) does not relate to Executive’s Permitted
Outside Activities, such Developments and the benefits thereof shall immediately become the sole and absolute property of the Company and its assigns, and Executive shall promptly disclose to the Company (or any persons designated by it) each such
Development, and Executive hereby assigns any rights Executive may have or acquire in the Developments and benefits and/or rights resulting therefrom to the Company and its assigns without further compensation and shall communicate, without cost or
delay, and without publishing the same, all available information relating thereto (with all necessary plans and models) to the Company. 

(b) Upon disclosure of each Development to the Company, Executive will, during Executive’s employment and at any time thereafter, at the
request and cost of the Company, sign, execute, make and do all such deeds, documents, acts and things as the Company and its duly authorized agents may reasonably require: 

(i) to apply for, obtain and vest in the name of the Company alone (unless the Company otherwise directs) letters patent, copyrights or other
analogous protection in any country throughout the world and when so obtained or vested to renew and restore the same; and 

 (ii) to defend any opposition proceedings in respect of such applications and any
opposition proceedings or petitions or applications for revocation of such letters patent, copyright or other analogous protection. 
 (c) In
the event the Company is unable, after reasonable effort, to secure Executive’s signature on any letters patent, copyright or other analogous protection relating to a Development, whether because of Executive’s physical or mental
incapacity or for any other reason whatsoever, Executive hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as Executive’s agent and
attorney-in-fact for the sole purpose of acting for and on Executive’s behalf and in Executive’s stead to execute and file any such application or applications
and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent, copyright and other analogous protection thereon with the same legal force and effect as if executed by Executive. 

7. Non-Solicitation. During the Employment Period and for a period (the
“Restricted Period”) of twelve (12) month after termination of such employment (for any reason, whether voluntary or involuntary), Executive agrees that Executive will not: 

(a) directly or indirectly solicit, entice or induce, or attempt to solicit, entice or induce, any customer, vendor, supplier, or business
development partner to cease doing business with or diminish its business relationship with the Company, and Executive shall not approach any such person, firm or corporation for such purpose or authorize or knowingly approve the taking of such
actions by any other person; or 
 (b) directly or indirectly solicit or recruit, or attempt to solicit or recruit, any current employee,
consultant or independent contractor of the Company to terminate employment or to otherwise cease providing services to the Company or (other than in respect of consultants or independent contractors whose services are available generally to, and
who provide significant services to, multiple unrelated service providers other than the Company) to work for a third party other than the Company; and Executive shall not approach any such person for such purpose or authorize or knowingly approve
the taking of such actions by any other person; provided, that the placement of general advertisements in newspapers, magazines, or electronic media or other solicitation not specifically targeted shall not, by itself, constitute a breach of this
subsection (b). 
 8. Non-Competition. During the Employment Period and for a
period of twelve (12) months after termination of Executive’s employment (for any reason whatsoever, whether voluntary or involuntary) (the “Non-Competition Period”),
Executive will not, without prior disclosure to the Board, whether alone or as a partner, officer, director, consultant, agent, employee or stockholder of any company or other commercial enterprise, engage in any business or other activity anywhere
in the world that competes with the Company in the business of building and offering digital marketing data management technology to large business to consumer enterprises (the “Business”). The foregoing prohibition shall not
prevent (i) Executive’s employment or engagement after termination of Executive’s employment by any company or business organization, as long as the activities of any such employment or engagement, in any capacity, do not involve work
on matters related to the products being developed, manufactured, or marketed by the Company during Executive’s employment with the Company, or (ii) Executive from engaging in Permitted Outside Activities. For the avoidance of doubt, the
foregoing shall not be construed as preventing Executive from owning securities of a public company not in excess of five percent (5%) of any class of such securities or from owning stock, partnership interests or other securities of any entity not
in excess of five percent (5%) of any class of such securities and such ownership shall not be considered to be in competition with the Company. 

 9. General Provisions. 

(a) Executive acknowledges and agrees that the type and periods of restrictions imposed in Sections 5, 6, 7 and 8 of this Agreement are fair
and reasonable, and that such restrictions are intended solely to protect the legitimate interests of the Company, rather than to prevent Executive from earning a livelihood. Executive recognizes that the Company competes worldwide, and that
Executive’s access to Confidential Information makes it necessary for the Company to restrict Executive’s post-employment activities in any market in which the Company competes, and in which Executive’s access to Confidential
Information could be used to the detriment of the Company. In the event that any restriction set forth in this Agreement is determined to be overbroad with respect to scope, time or geographical coverage, Executive agrees that such a restriction or
restrictions should be modified and narrowed, either by a court or by the Company, so as to preserve and protect the legitimate interests of the Company as described in this Agreement, and without negating or impairing any other restrictions or
agreements set forth herein. 
 (b) Executive acknowledges and agrees that if Executive should breach any of the covenants, restrictions and
agreements contained herein, irreparable loss and injury would result to the Company, and that damages arising out of such a breach may be difficult to ascertain. Executive therefore agrees that, in addition to all other remedies provided at law or
at equity, the Company shall be entitled to seek to have the covenants, restrictions and agreements contained in Sections 5, 6, 7 and 8 specifically enforced (including, without limitation, by temporary, preliminary, and permanent injunctions and
restraining orders) by any state or federal court in the State of New York having equity jurisdiction, and Executive agrees to be subject to the jurisdiction of such court. 

(c) Executive agrees that if the Company fails to take action to seek a remedy of any breach by Executive of this Agreement or any portion of
the Agreement, such inaction by the Company shall not operate or be construed as a waiver of any subsequent breach by Executive of the same or any other provision, agreement or covenant. The Company agrees that if Executive fails to take action to
seek a remedy any breach by the Company of this Agreement or any portion of the Agreement, such inaction by Executive shall not operate or be construed as a waiver of any subsequent breach by the Company of the same or any other provision,
agreement, or covenant. 
 (d) Executive acknowledges and agrees that the payments and benefits to be provided to Executive under this
Agreement are provided as consideration for the covenants in Sections 5, 6, 7 and 8 hereof in addition to the services to be provided by and other obligations of Executive hereunder. 

10. Non-disparagement. Upon Executive’s termination of employment with
the Company for any reason, neither party (and in the case of the Company, its directors, officers, advisors and employees) shall make any disparaging public comments, oral or written, concerning the other, or publicly take any other action that
reasonably could be construed as disparaging the reputation of the other. 

 11. No Conflict with Existing Obligations. Executive represents and
warrants that Executive has disclosed to the Company any and all prior nondisclosure, confidentiality, noncompetition, non-solicitation or other similar obligations and/or restrictive covenants to or with any
prior employer, entity, or other person (together, the “Prior Restrictive Covenants”), and that no Prior Restrictive Covenant prohibits, restricts, limits or otherwise affects Executive’s employment with the Company as
an executive or ability to perform any of Executive’s duties or responsibilities for the Company. Executive agrees that Executive will not enter into any agreement or obligation, either written or oral, in conflict herewith. 

12. Survivorship. The respective rights and obligations of the parties under this Agreement shall survive any termination
of Executive’s employment to the extent necessary to the intended preservation of such rights and obligations. 
 13.
Notices. All notices and other communications required or permitted under this Agreement or necessary or convenient in connection herewith shall be in writing and shall be deemed to have been given when hand delivered or mailed by
registered or certified mail, as follows (provided that notice of change of address shall be deemed given only when received): 
 If to the
Company, to: 
 Zeta Global Corp. 

3 Park Ave. 33rd Fl 

New York, NY 10016 
 Attn: General
Counsel 
 With a copy (which shall not by itself constitute notice) to: 

[***] 
 If to Executive: 

To the address of Executive’s principal residence most recently on file with the Company 

With a copy (which shall not by itself constitute notice) to: 

[***] 
 or to such other names or addresses as
the Company or Executive, as the case may be, shall designate by notice to each other person entitled to receive notices in the manner specified in this Section. 

 14. Contents of Agreement: Amendment and Assignment. 

(a) This Agreement sets forth the entire understanding between the parties hereto with respect to the subject matter hereof and supersedes any
and all prior agreements and understandings concerning Executive’s employment by the Company and cannot be changed or modified except upon written amendment approved by the Company and executed on its behalf by a duly authorized officer and by
Executive. 
 (b) All of the terms and provisions of this Agreement shall be binding upon and inure to the benefit of and be enforceable by
the respective heirs, executors, administrators, legal representatives, successors and assigns of the parties hereto, except that the duties and responsibilities of Executive under this Agreement are of a personal nature and shall not be assignable
or delegatable in whole or in part by Executive. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation, reorganization or otherwise) to all or substantially all of the business or assets of the
Company, within fifteen (15) days of such succession, expressly to assume and agree to perform this Agreement in the same manner as, and to the same extent that, the Company would be required to perform if no such succession had taken place.

 15. Severability. If any provision of this Agreement or application thereof to anyone or under any circumstances is
adjudicated to be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect any other provision or application of this Agreement that can be given effect without the invalid or unenforceable provision or
application and shall not invalidate or render unenforceable such provision or application in any other jurisdiction. If any provision is held void, invalid or unenforceable with respect to particular circumstances, it shall nevertheless remain in
full force and effect in all other circumstances. 
 16. Remedies Cumulative; No Waiver. No remedy conferred upon a
party by this Agreement is intended to be exclusive of any other remedy, and each and every such remedy shall be cumulative and shall be in addition to any other remedy given under this Agreement or now or hereafter existing at law or in equity. No
delay or omission by a party in exercising any right, remedy or power under this Agreement or existing at law or in equity shall be construed as a waiver thereof, and any such right, remedy or power may be exercised by such party from time to time
and as often as may be deemed expedient or necessary by such party in its sole discretion. 
 17. Withholding. All
payments under this Agreement shall be made subject to applicable tax withholding, and the Company shall withhold from any payments under this Agreement all federal, state and local taxes as the Company is required to withhold pursuant to any law or
governmental rule or regulation. Executive shall bear all expense of, and be solely responsible for, all federal, state and local taxes due with respect to any payment received under this Agreement, other than such taxes that are, by their nature,
obligations of the Company (for example, and without limitation, the employer portion of the Federal Insurance Contributions Act (FICA) taxes, and any corporate taxes incurred by the Company as a result of the disallowance of any tax deduction for
compensation paid to Executive). 
 18. Counterparts. This Agreement may be executed in counterparts, each of which is
an original. It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or account for any of the other counterparts. Facsimile signatures and signatures transmitted by PDF shall be equivalent to original
signatures. 

 19. Governing Law; Jurisdiction. This Agreement shall be governed by
and interpreted under the laws of the State of New York without giving effect to any conflicts-of-law provisions or canons of construction that construe agreements
against the draftsperson. Each party hereby irrevocably submits to the exclusive jurisdiction of the United States District Court located in New York or any state court located within such state, in respect of any claim arising out of or relating to
this Agreement, and hereby waives, and agrees not to assert, as a defense in any action, suit or proceeding in which any such claim is made that it is not subject thereto or that such action, suit or proceeding may not be brought or is not
maintainable in such courts or that the venue thereof may not be appropriate or that this Agreement may not be enforced in or by such courts. Any appellate proceedings shall take place in the appropriate courts having appellate jurisdiction over the
courts set forth in this Section. 
 20. Section 409A. This Agreement is intended to comply with or otherwise be exempt
from Section 409A and its corresponding regulations, to the extent applicable, and shall be so construed. Notwithstanding anything in this Agreement to the contrary, payments of “nonqualified deferred compensation” subject to
Section 409A may only be made under this Agreement upon an event and in a manner permitted by Section 409A, to the extent applicable. For purposes of Section 409A, all payments of “nonqualified deferred compensation” subject
to Section 409A to be made upon the termination of Executive’s employment under this Agreement may only be made upon a “separation from service” under Section 409A. Each payment made under this Agreement shall be treated as
a separate payment and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate payments. In no event shall Executive, directly or indirectly, designate the calendar year of payment with
respect to any amount that is “nonqualified deferred compensation” subject to Section 409A. All reimbursements provided under this Agreement that are “nonqualified deferred compensation” that is subject to Section 409A
shall be made or provided in accordance with Section 409A, including, where applicable, the requirements that (a) any reimbursement is for expenses incurred during the Employment Period (or during such other time period specified in this
Agreement), (b) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year, (c) the reimbursement of an eligible expense will be made on or before
the last day of the taxable year following the year in which the expense is incurred, and (d) the right to reimbursement is not subject to liquidation or exchange for another benefit. Nothing herein shall be construed as having modified the
time and form of payment of any amounts or payments of “nonqualified deferred compensation” within the meaning Section 409A that were otherwise payable pursuant to the terms of any agreement between Company and Executive in effect
prior to the date of this Agreement. 

 21. Section 280G of the Code. Notwithstanding any other
provision of this Agreement or any other plan, arrangement or agreement to the contrary, if any of the payments or benefits provided or to be provided by the Company or its affiliates to Executive or for Executive’s benefit pursuant to the
terms of this Agreement or otherwise (the “Covered Payments”) constitute parachute payments (the “Parachute Payments”) within the meaning of Section 280G of the Code and would, but for this
Section 20 would be subject to the excise tax imposed under Section 4999 of the Code (or any successor provision thereto) or any similar tax imposed by state or local law or any interest or penalties with respect to such taxes
(collectively, the “Excise Tax”), then prior to making the Covered Payments, a calculation shall be made comparing (i) the Net Benefit (as defined below) to the Executive of the Covered Payments after payment of the Excise Tax to
(ii) the Net Benefit to the Executive if the Covered Payments are limited to the extent necessary to avoid being subject to the Excise Tax. Only if the amount calculated under (i) above is less than the amount under (ii) above will
the Covered Payments be reduced to the minimum extent necessary to ensure that no portion of the Covered Payments is subject to the Excise Tax (that amount, the “Reduced Amount”). “Net Benefit” shall mean the
present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes. 
 (a) Any such
reduction shall be made in accordance with Section 409A of the Code and the following: 
 (i) the Covered Payments which do not
constitute nonqualified deferred compensation subject to Section 409A of the Code shall be reduced first; and 
 (ii) all other Covered
Payments shall then be reduced as follows: (A) cash payments shall be reduced before non-cash payments; and (B) payments to be made on a later payment date shall be reduced before payments to be made
on an earlier payment date. 
 (b) Any determination required under this Section 20 shall be made in writing in good faith by the
accounting firm that was the Company’s independent auditor immediately before the change in control/an independent accounting firm selected by the Company/an independent accounting firm selected by the Company that is reasonably acceptable to
the Executive (the “Accountants”). The Company and the Executive shall provide the Accountants with such information and documents as the Accountants may reasonably request in order to make a determination under this
Section 20. For purposes of making the calculations and determinations required by this Section 20, the Accountants may rely on reasonable, good faith assumptions and approximations concerning the application of Section 280G and
Section 4999 of the Code. The Accountants’ determinations shall be final and binding on the Company and the Executive. The Company shall be responsible for all fees and expenses incurred by the Accountants in connection with the
calculations required by this Section 20. 
 (c) It is possible that after the determinations and selections made pursuant to this
Section 20 the Executive will receive Covered Payments that are in the aggregate more than the amount provided under this Section 20 (“Overpayment”) or less than the amount provided under this Section 20
(“Underpayment”). 

 (i) In the event that: (A) the Accountants determine, based upon the assertion of a
deficiency by the Internal Revenue Service against either the Company or the Executive which the Accountants believe has a high probability of success, that an Overpayment has been made or (B) it is established pursuant to a final determination
of a court or an Internal Revenue Service proceeding that has been finally and conclusively resolved that an Overpayment has been made, then the Executive shall pay any such Overpayment to the Company together with interest at the applicable federal
rate (as defined in Section 7872(f)(2)(A) of the Code) from the date of the Executive’s receipt of the Overpayment until the date of repayment. 

(ii) In the event that: (A) the Accountants, based upon controlling precedent or substantial authority, determine that an Underpayment
has occurred or (B) a court of competent jurisdiction determines that an Underpayment has occurred, any such Underpayment will be paid promptly by the Company to or for the benefit of the Executive together with interest at the applicable
federal rate (as defined in Section 7872(f)(2)(A) of the Code) from the date the amount would have otherwise been paid to the Executive until the payment date. 

22. Miscellaneous/Expenses. The Company agrees to pay and/or reimburse Executive for reasonable legal fees and expenses
incurred by Executive in negotiating and entering into this Agreement, within thirty (30) days after the Company’s receipt of the invoices therefor. 

[SIGNATURE PAGE FOLLOWS] 

 IN WITNESS WHEREOF, the undersigned, intending to be legally bound, have executed this
Agreement as of the date first above written. 
  

			
	ZETA GLOBAL CORP.

 
			
		
	By:	 	  

 
			
	Name:
	Title:
	
	EXECUTIVE
	
	  

	[NAME]Document

Exhibit 10.1

INDEMNIFICATION AGREEMENT

THIS INDEMNIFICATION AGREEMENT (“Agreement”) is made as of April 29, 2021   by and between DXP Enterprises, Inc., a Texas corporation (the “Company”), and DXP Enterprises, Inc. Board Member/s (“Indemnitee”).  This Agreement supersedes and replaces any and all previous agreements between the Company and Indemnitee covering the subject matter of this Agreement.
RECITALS
WHEREAS, highly competent persons have become more reluctant to serve publicly-held corporations as directors and officers or in other capacities unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the corporation;
WHEREAS, the Board of Directors of the Company (the “Board”) has determined that, in order to attract and retain qualified individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities.  Although the furnishing of such insurance has been a customary and widespread practice among United States-based corporations and other business enterprises, the Company believes that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions.  At the same time, directors, officers, and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the Company or business enterprise itself.  The Organizational Documents (as defined below) require indemnification of the officers and directors of the Company.  Indemnitee may also be entitled to indemnification pursuant the TBOC (as defined below).  The Organizational Documents of the Company and the TBOC expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the board of directors, officers and other persons with respect to indemnification;
WHEREAS, the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons;
WHEREAS, the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company and its stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future;

WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified;
WHEREAS, this Agreement is a supplement to and in furtherance of the Organizational Documents and any resolutions adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;
WHEREAS, Indemnitee does not regard the protection available under the Organizational Documents and insurance as adequate in the present circumstances, and may not be willing to serve as an officer or director without adequate protection, and the Company desires Indemnitee to serve in such capacity.  Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition that he be so indemnified; and
NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:
Section 1.Services to the Company.  Indemnitee agrees to serve as a director and/or officer of the Company.  Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law), in which event the Company shall have no obligation under this Agreement to continue Indemnitee in such position.  This Agreement shall not be deemed an employment contract between the Company (or any of its subsidiaries or any Enterprise) and Indemnitee.  Indemnitee specifically acknowledges that Indemnitee’s employment with the Company (or any of its subsidiaries or any Enterprise), if any, is at will, and the Indemnitee may be discharged at any time for any reason, with or without cause, except as may be otherwise provided in any written employment contract between Indemnitee and the Company (or any of its subsidiaries or any Enterprise), other applicable formal severance policies duly adopted by the Board, or, with respect to service as a director or officer of the Company, by the Company’s Organizational Documents and the TBOC.  The foregoing notwithstanding, this Agreement shall continue in force after Indemnitee has ceased to serve as an officer and director of the Company, as provided in Section 18 hereof.
Section 2.Definitions.   As used in this Agreement:
(a)References to “agent” shall mean any person who is or was a director, officer, or employee of the Company or a subsidiary of the Company or other person authorized by the Company to act for the Company, to include such person serving in such capacity as a director, officer, employee, fiduciary or other member of another corporation, partnership, limited liability company, joint venture, trust, organization or other enterprise at the request of, 
51180265.2                     - 2 -                  DXP Enterprises, Inc.

for the convenience of, or to represent the interests of the Company or a subsidiary of the Company.
(b)A “Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement of any of the following events:
i.Acquisition of Stock by Third Party.  Any Person (as defined below) is or becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of the Company representing fifteen percent (15%) or more of the combined voting power of the Company’s then outstanding securities unless the change in relative Beneficial Ownership of the Company’s securities by any Person results solely from a reduction in the aggregate number of outstanding shares of securities entitled to vote generally in the election of directors;
ii.Change in Board of Directors.  During any period of two (2) consecutive years (not including any period prior to the execution of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in Section 2(b)i, Section 2(b)iii or Section 2(b)iv) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board;
iii.Corporate Transactions.  The effective date of a merger or consolidation of the Company with any other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of the surviving entity outstanding immediately following such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity;
iv.Liquidation.  The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets; and
v.Other Events.  There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement.
For purposes of this Section 2(b), the following terms shall have the following meanings:

(1)“Beneficial Owner” shall have the meaning given to such term in Rule 13d-3 under the Exchange Act; provided, however, that Beneficial Owner 
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shall exclude any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Company approving a merger of the Company with another entity.
(2)“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time.
(3)“Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however, that Person shall exclude (i) the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii) any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company.
(c)“Corporate Status” describes the status of a person who is or was a director, officer, employee or agent of the Company or of any other corporation, limited liability company, partnership or joint venture, trust, organization or other enterprise which such person is or was serving at the request of the Company.
(d)“Disinterested Director” shall mean a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee.
(e)“Enterprise” shall mean the Company and any other corporation, limited liability company, partnership, joint venture, trust, organization or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, trustee, partner, managing member, employee, agent or fiduciary.
(f)“Expenses” shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts and other professionals, witness fees, travel expenses, electronic discovery costs, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement, ERISA excise taxes and penalties, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding.  Expenses also shall include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the premium, security for, and other costs relating to any cost bond, supersede as bond, or other appeal bond or its equivalent, and (ii) for purposes of Section 15(d) only, Expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement, by litigation or otherwise.  The parties agree that for the purposes of any advancement of Expenses for which Indemnitee has made written demand to the Company in accordance with this Agreement, all Expenses included in such demand that are certified by affidavit of Indemnitee’s counsel as being reasonable shall be 
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presumed conclusively to be reasonable.  Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.
(g)“Independent Counsel” shall mean a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder.  Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.  The Company agrees to pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.
(h)The term “Organizational Documents” shall mean the Restated Articles of Incorporation of the Company and the Amended and Restated Bylaws of the Company, in each case as amended from time to time.
(i)The term “Proceeding” shall include any threatened, pending or completed action, suit, claim, counterclaim, cross claim, arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative, legislative, or investigative (formal or informal) nature, including any appeal therefrom, in which Indemnitee was, is or will be involved as a party, potential party, non-party witness or otherwise by reason of the fact that Indemnitee is or was a director or officer of the Company, by reason of any action taken by him (or a failure to take action by him) or of any action (or failure to act) on his part while acting pursuant to his Corporate Status, in each case whether or not serving in such capacity at the time any liability or Expense is incurred for which indemnification, reimbursement, or advancement of Expenses can be provided under this Agreement.  If the Indemnitee believes in good faith that a given situation 
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may lead to or culminate in the institution of a Proceeding, this shall be considered a Proceeding under this paragraph.
(j)The term “Sarbanes-Oxley Act” shall mean the Sarbanes-Oxley Act of 2002, as amended from time to time.
(k)The term “TBOC” shall mean the Texas Business Organizations Code, as amended from time to time.
(l)The term “Texas Court” shall mean the courts of the State of Texas located in Houston, Texas.
(m)Reference to “other enterprise” shall include employee benefit plans; references to “fines” shall include any excise tax assessed with respect to any employee benefit plan; references to “serving at the request of the Company” shall include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner he reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in manner “not opposed to the best interests of the Company” as referred to in this Agreement.
Section 3.Indemnity in Third-Party Proceedings.  The Company shall indemnify Indemnitee in accordance with the provisions of this Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor.  Pursuant to this Section 3, Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses, judgments, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines and amounts paid in settlement) actually and reasonably incurred by Indemnitee or on his behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding had no reasonable cause to believe that his conduct was unlawful.  The parties hereto intend that this Agreement shall provide to the fullest extent permitted by law for indemnification in excess of that expressly permitted by statute, including, without limitation, any indemnification provided by the Organizational Documents, vote of the Company’s stockholders or Disinterested Directors or applicable law.
Section 4.Indemnity in Proceedings by or in the Right of the Company.   The Company shall indemnify Indemnitee in accordance with the provisions of this Section 4 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its favor.  Pursuant to this Section 4, Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses actually and reasonably incurred by him or on his behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company.  No 
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indemnification for Expenses shall be made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only to the extent that a Texas Court or any other court in which the Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification.
Section 5.Indemnification for Expenses of a Party Who is Wholly or Partly Successful.  Notwithstanding any other provisions of this Agreement, to the fullest extent permitted by applicable law and to the extent that Indemnitee is a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in whole or in part, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him in connection therewith.  If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him or on his behalf in connection with or related to each successfully resolved claim, issue or matter to the fullest extent permitted by law.  For purposes of this Section and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.
Section 6.Indemnification For Expenses of a Witness.  Notwithstanding any other provision of this Agreement, to the fullest extent permitted by applicable law and to the extent that Indemnitee is, by reason of his Corporate Status, a witness or otherwise asked to participate in any Proceeding to which Indemnitee is not a party, he shall be indemnified against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith.
Section 7.Partial Indemnification.  If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.
Section 8.Additional Indemnification.
(a)Notwithstanding any limitation in Section 3, Section 4, or Section 5, the Company shall indemnify Indemnitee to the fullest extent permitted by applicable law if Indemnitee is a party to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) against all Expenses, judgments, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, 
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fines and amounts paid in settlement) actually and reasonably incurred by Indemnitee in connection with the Proceeding.
(b)For purposes of Section 8(a), the meaning of the phrase “to the fullest extent permitted by applicable law” shall include, but not be limited to:
i.to the fullest extent permitted by the provision of the TBOC that authorizes or contemplates additional indemnification by agreement, or the corresponding provision of any amendment to or replacement of the TBOC, and
ii.to the fullest extent authorized or permitted by any amendments to or replacements of the TBOC adopted after the date of this Agreement that increase the extent to which a corporation may indemnify its officers and directors.
Section 9.NOTICE OF ASSUMPTION OF LIABILITY.  THE COMPANY EXPRESSLY ACKNOWLEDGES THAT THE INDEMNITIES CONTAINED IN THIS AGREEMENT REQUIRE ASSUMPTION OF LIABILITY PREDICATED ON THE NEGLIGENCE, GROSS NEGLIGENCE, OR CONDUCT RESULTING IN STRICT LIABILITY OF INDEMNITEE, AND THE COMPANY ACKNOWLEDGES THAT THIS SECTION 9 COMPLIES WITH ANY REQUIREMENT TO EXPRESSLY STATE LIABILITY FOR NEGLIGENCE, GROSS NEGLIGENCE, OR CONDUCT RESULTING IN STRICT LIABILITY IS CONSPICUOUS AND AFFORDS FAIR AND ADEQUATE NOTICE.
Section 10.Exclusions. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnification payment in connection with any claim made against Indemnitee:
(a)for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision; or
(b)for (i) an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Exchange Act (as defined in Section 2(b) hereof) or similar provisions of state statutory law or common law, or (ii) any reimbursement of the Company by the Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by the Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act); or
(c)except as provided in Section 15(d) of this Agreement, in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the 
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Proceeding (or any part of any Proceeding) prior to its initiation or (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law.
Section 11.Advances of Expenses.   Notwithstanding any provision of this Agreement to the contrary (other than Section 15(d)), the Company shall advance, to the extent not prohibited by law, the Expenses incurred by Indemnitee in connection with any Proceeding (or any part of any Proceeding) not initiated by Indemnitee, and such advancement shall be made within thirty (30) days after the receipt by the Company of a statement or statements requesting such advances from time to time, whether prior to or after final disposition of any Proceeding.  Advances shall be unsecured and interest free.  Advances shall be made without regard to Indemnitee’s ability to repay the Expenses and without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement.  In accordance with Section 15(d), advances shall include any and all reasonable Expenses incurred pursuing an action to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed.  The Indemnitee shall qualify for advances upon the execution and delivery to the Company of this Agreement, which shall constitute an undertaking providing that the Indemnitee undertakes to repay the amounts advanced (without interest) to the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified by the Company.  No other form of undertaking shall be required other than the execution of this Agreement.  This Section 11 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 10.
Section 12.Procedure for Notification and Defense of Claim.
(a)Indemnitee shall notify the Company in writing of any matter with respect to which Indemnitee intends to seek indemnification or advancement of Expenses hereunder as soon as reasonably practicable following the receipt by Indemnitee of written notice thereof.  The written notification to the Company shall include a description of the nature of the Proceeding and the facts underlying the Proceeding.  To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification following the final disposition of such Proceeding.  The omission by Indemnitee to notify the Company hereunder will not relieve the Company from any liability which it may have to Indemnitee hereunder or otherwise than under this Agreement, and any delay in so notifying the Company shall not constitute a waiver by Indemnitee of any rights under this Agreement.  The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board in writing that Indemnitee has requested indemnification.
(b)The Company will be entitled to participate in the Proceeding at its own expense.
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Section 13.Procedure Upon Application for Indemnification.
(a)Upon written request by Indemnitee for indemnification pursuant to Section 12(a), a determination, if required by applicable law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case: (i) if a Change in Control shall have occurred, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee; or (ii) if a Change in Control shall not have occurred, (A) by a majority vote of the Disinterested Directors, even though less than a quorum of the Board, (B) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum of the Board, (C) if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee or (D) if so directed by the Board, by the stockholders of the Company; and, if it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination.  Indemnitee shall cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination.  Any costs or Expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom.  The Company promptly will advise Indemnitee in writing with respect to any determination that Indemnitee is or is not entitled to indemnification, including a description of any reason or basis for which indemnification has been denied.
(b)In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 13(a) hereof, the Independent Counsel shall be selected as provided in this Section 13(b).  If a Change in Control shall not have occurred, the Independent Counsel shall be selected by the Board, and the Company shall give written notice to Indemnitee advising him of the identity of the Independent Counsel so selected.  If a Change in Control shall have occurred, the Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board, in which event the preceding sentence shall apply), and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected.  In either event, Indemnitee or the Company, as the case may be, may, within ten (10) days after such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 2 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion.  Absent a proper and timely objection, the person so selected shall act as Independent Counsel.  If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or the Texas Court has determined that such objection is without merit.  
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If, within twenty (20) days after the later of submission by Indemnitee of a written request for indemnification pursuant to Section 12(a) hereof and the final disposition of the Proceeding, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Texas Court for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by such court or by such other person as such court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 13(a) hereof.  Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 15(a) of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).
Section 14.Presumptions and Effect of Certain Proceedings.
(a)In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall, to the fullest extent not prohibited by law, presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 12(a) of this Agreement, and the Company shall, to the fullest extent not prohibited by law, have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption.  Neither the failure of the Company (including by its directors or Independent Counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including by its directors or Independent Counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.
(b)Subject to Section 15(e), if the person, persons or entity empowered or selected under Section 13 of this Agreement to determine whether Indemnitee is entitled to indemnification shall not have made a determination within sixty (60) days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall, to the fullest extent not prohibited by law, be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law; provided, however, that such 60-day period may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto; and provided, further, that the foregoing provisions of this Section 13(b) shall not apply (i) if the determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 13(a) of this Agreement and if (A) within fifteen 
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(15) days after receipt by the Company of the request for such determination the Board has resolved to submit such determination to the stockholders for their consideration at an annual meeting thereof to be held within seventy-five (75) days after such receipt and such determination is made thereat, or (B) a special meeting of stockholders is called within fifteen (15) days after such receipt for the purpose of making such determination, such meeting is held for such purpose within sixty (60) days after having been so called and such determination is made thereat, or (ii) if the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 13(a) of this Agreement.
(c)The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his conduct was unlawful.
(d)For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account of the Enterprise, including financial statements, or on information supplied to Indemnitee by the directors or officers of the Enterprise in the course of their duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports made to the Enterprise by an independent certified public accountant or by an appraiser or other expert selected with the reasonable care by  the Enterprise.  The provisions of this Section 14(d) shall not be deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement.
(e)The knowledge and/or actions, or failure to act, of any director, officer, trustee, partner, managing member, fiduciary, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement.
Section 15.Remedies of Indemnitee.
(a)Subject to Section 15(e), in the event that (i) a determination is made pursuant to Section 13 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 11 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 13(a) of this Agreement within ninety (90) days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 5, Section 6 or Section 7 or the last sentence of Section 13(a) of this Agreement within ten (10) days after receipt by the Company of a written request therefor, (v) payment of indemnification pursuant to Section 3, Section 4 or Section 8 of this Agreement is not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification, or (vi) the Company or any other person takes or threatens to take any action to 
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declare this Agreement void or unenforceable, or institutes any litigation or other action or Proceeding designed to deny, or to recover from, the Indemnitee the benefits provided or intended to be provided to the Indemnitee hereunder, Indemnitee shall be entitled to an adjudication by a court of his entitlement to such indemnification or advancement of Expenses.  Alternatively, Indemnitee, at his option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association.  Indemnitee shall commence such proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 15(a); provided, however, that the foregoing clause shall not apply in respect of a proceeding brought by Indemnitee to enforce his rights under Section 5 of this Agreement.  The Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration.
(b)In the event that a determination shall have been made pursuant to Section 13(a) of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 15 shall be conducted in all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination.  In any judicial proceeding or arbitration commenced pursuant to this Section 15 the Company shall have the burden of proving Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be.
(c)If a determination shall have been made pursuant to Section 13(a) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 15, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law.
(d)The Company shall, to the fullest extent not prohibited by law, be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 15 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement.  It is the intent of the Company that, to the fullest extent permitted by law, the Indemnitee not be required to incur legal fees or other Expenses associated with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement by litigation or otherwise because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Indemnitee hereunder.  The Company shall, to the fullest extent permitted by law, indemnify Indemnitee against any and all Expenses and, if requested by Indemnitee, shall (within ten (10) days after receipt by the Company of a written request therefor) advance, to the extent not prohibited by law, such Expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee for indemnification or advance of Expenses from the Company under this Agreement or under any directors’ and officers’ liability insurance policies maintained by the Company if, in the case of indemnification, Indemnitee is wholly successful on the underlying claims; if Indemnitee is not wholly successful on the underlying claims, then such 
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indemnification shall be only to the extent Indemnitee is successful on such underlying claims or otherwise as permitted by law, whichever is greater.
(e)Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement of Indemnitee to indemnification under this Agreement shall be required to be made prior to the final disposition of the Proceeding.
Section 16.Non-exclusivity; Survival of Rights; Insurance; Subrogation.
(a)The rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Organizational Documents, any agreement, a vote of stockholders or a resolution of directors, or otherwise.  No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his Corporate Status prior to such amendment, alteration or repeal.  To the extent that a change in Texas law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the Organizational Documents and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change.  No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.  The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.
(b)To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees, or agents of the Enterprise, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director, officer, employee or agent under such policy or policies.  If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of such claim or of the commencement of a Proceeding, as the case may be, to the insurers in accordance with the procedures set forth in the respective policies.  The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies.
(c)In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.
(d)The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable (or for which advancement is provided hereunder) 
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hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.
(e)The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the Company as a director, officer, trustee, partner, managing member, fiduciary, employee or agent of any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan, organization or other enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or advancement of Expenses from such other corporation, limited liability company, partnership, joint venture, trust, organization or other enterprise.
Section 17.Duration of Agreement.  This Agreement shall continue until and terminate upon the later of: (a) ten (10) years after the date that Indemnitee shall have ceased to serve as a director and officer of the Company or (b) one (1) year after the final termination of any Proceeding then pending in respect of which Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and of any proceeding commenced by Indemnitee pursuant to Section 15 of this Agreement relating thereto.  The indemnification and advancement of Expenses rights provided by or granted pursuant to this Agreement shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or of any other Enterprise, and shall inure to the benefit of Indemnitee and his or her spouse, assigns, heirs, devisees, executors and administrators and other legal representatives.
Section 18.Severability.  If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.
Section 19.Enforcement.
(a)The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce Indemnitee to 
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serve as a director or officer of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director or officer of the Company.
(b)This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Organizational Documents and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.
Section 20.Modification and Waiver.  No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by the parties hereto.  No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver.
Section 21.Notice by Indemnitee.  Indemnitee agrees to promptly notify the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered hereunder.  The failure of Indemnitee to so notify the Company shall not relieve the Company of any obligation which it may have to the Indemnitee under this Agreement or otherwise.
Section 22.Notices.   All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been duly given if (a) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, (b) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed, (c) mailed by reputable overnight courier and receipted for by the party to whom said notice or other communication shall have been directed or (d) sent by facsimile transmission, with receipt of oral confirmation that such transmission has been received:
(a)If to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee shall provide to the Company.
(b)If to the Company to:
DXP Enterprises, Inc.
5301 Hollister St.
Houston, Texas 77040
Attention:  Kent Yee

or to any other address as may have been furnished to Indemnitee by the Company.
Section 23.Contribution.  To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount 
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incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s).
Section 24.Applicable Law and Consent to Jurisdiction.  This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Texas, without regard to its conflict of laws rules.  Except with respect to any arbitration commenced by Indemnitee pursuant to Section 15(a) of this Agreement, the Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Texas Court and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Texas Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) waive any objection to the laying of venue of any such action or proceeding in the Texas Court, and (iv) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Texas Court has been brought in an improper or inconvenient forum.
Section 25.Identical Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement.  Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.
Section 26.Miscellaneous.    Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate.  The headings of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.
[Signature Page Follows]

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IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the date first above written.

									
	DXP Enterprises, Inc.	 	Indemnitee
	 	 	 
	 	 	 
	 	 	 
	Name:	 	Name:
	Title:	 	Address:

    [Signature Page to Indemnification Agreement]

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