Document:

ttd-ex45_269.htm

EXHIBIT 4.5

 

DESCRIPTION OF THE COMPANY’S SECURITIES

REGISTERED PURSUANT TO SECTION 12 OF THE

SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

 

As of December 31, 2020, The Trade Desk, Inc. (“Company,” “we,” “us,” and “our”) had one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended: our Class A common stock.

 

DESCRIPTION OF CLASS A COMMON STOCK

 

Our authorized capital stock consists of 1,095,000,000 shares of common stock, par value $0.000001 per share, and 100,000,000 shares of preferred stock, par value $0.000001 per share. Our common stock is divided into two classes, Class A common stock and Class B common stock. Our authorized Class A common stock consists of 1,000,000,000 shares and our authorized Class B common stock consists of 95,000,000 shares.

 

The following description of our capital stock and provisions of our certificate of incorporation and bylaws are summaries and are qualified by reference to our certificate of incorporation and bylaws, each of which is an exhibit to our Annual Report on Form 10-K for the year ended December 31, 2020.

   

Voting Rights

 

Except as otherwise expressly provided in our certificate of incorporation or required by applicable law, on any matter that is submitted to a vote of our stockholders, holders of our Class A common stock are entitled to one vote per share of Class A common stock and holders of our Class B common stock are entitled to 10 votes per share of Class B common stock. Unless otherwise required by applicable law or described herein or in our certificate of incorporation, holders of shares of Class A common stock and Class B common stock vote together as a single class on all matters (including the election of directors) submitted to a vote of stockholders; provided however, that until all shares of Class B common stock have converted into shares of Class A common stock, holders of our Class A common stock, voting as a separate class, are entitled to elect (1) two directors to our board of directors or (2) one director to the board of directors if the total number of authorized directors consists of eight or fewer directors.

 

Under the terms of our certificate of incorporation, we may not increase or decrease the authorized number of shares of Class A common stock or Class B common stock without the affirmative vote of the holders of a majority of the voting power of the outstanding shares of our capital stock entitled to vote, voting together as a single class. In addition, we may not issue any shares of Class B common stock (other than upon exercise of options or other rights to acquire Class B common stock or in connection with a reclassification or dividend), unless that issuance is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class B common stock.

 

We have not provided for cumulative voting for the election of directors in our certificate of incorporation.

 

Economic Rights

 

Except as otherwise expressly provided in our certificate of incorporation or required by applicable law, shares of Class A common stock and Class B common stock have the same rights and privileges and rank equally, share ratably and are identical in all respects as to all matters, including, without limitation, those described below.

 

Dividends.    Any dividend or distributions paid or payable to the holders of shares of Class A common stock and Class B common stock shall be paid pro rata, on an equal priority, pari passu basis, unless different treatment of the shares of each such class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A common stock and Class B common stock, each voting separately as a class; provided, however, that if a dividend or distribution is paid in the form of Class A common stock or Class B common stock (or rights to acquire shares of Class A common stock or Class B common stock), then the holders of the Class A common stock shall receive Class A common stock (or rights to acquire shares of Class A common stock) and holders of Class B common stock shall receive Class B common stock (or rights to acquire shares of Class B common stock).

 

Subdivisions and Combinations.    If we subdivide or combine in any manner outstanding shares of Class A common stock or Class B common stock, then the outstanding shares of all common stock will be subdivided or 

 

 

combined in the same proportion and manner, unless different treatment of the shares of each such class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A common stock and Class B common stock, each voting separately as a class.

 

Change of Control Transaction.    In connection with any change of control transaction (as defined in our certificate of incorporation), the holders of Class A common stock and Class B common stock will be treated equally and identically with respect to shares of Class A common stock or Class B common stock owned by them, unless different treatment of the shares of each class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A common stock and Class B common stock, each voting separately as a class.

 

Conversion

 

Each share of Class B common stock is convertible at any time at the option of the holder into one share of Class A common stock. In addition, each share of Class B common stock will convert automatically into one share of Class A common stock upon any transfer, whether or not for value and whether voluntary or involuntary or by operation of law, except for certain transfers described in our certificate of incorporation, including, without limitation, certain transfers for tax and estate planning purposes. In addition, upon the earliest of (1) December 22, 2025; (2) such date and time as determined by our board of directors following the first date on which Jeff Green is none of the following: (a) chief executive officer of the Company, (b) president of the Company or (c) chairman of our board of directors; and (3) a date specified by the holders of at least 66 2/3% of the outstanding shares of Class B common stock, all outstanding shares of Class B common stock shall convert automatically into Class A common stock, and no additional shares of Class B common stock will be issued.

 

Choice of Forum

 

Our certificate of incorporation provides that, unless we consent in writing to the selection of an alternative form, the Court of Chancery of the State of Delaware is the sole and exclusive forum for: (1) any derivative action or proceeding brought on our behalf; (2) any action asserting a claim of breach of a fiduciary duty by any of our directors, officers, employees or stockholders owed to us or our stockholders; (3) any action asserting a claim against us arising pursuant to any provision of the Delaware General Corporation Law, our certificate of incorporation or our bylaws, or as to which the Delaware General Corporation Law confers jurisdiction on the Court of Chancery of the State of Delaware; or (4) any action asserting a claim governed by the internal affairs doctrine. Our certificate of incorporation also provides that any person or entity purchasing or otherwise acquiring any interest in shares of our capital stock will be deemed to have notice of and to have consented to this choice of forum provision. It is possible that a court of law could rule that the choice of forum provision contained in our certificate of incorporation is inapplicable or unenforceable if it is challenged in a proceeding or otherwise. This choice of forum provision has important consequences for our stockholders. Our certificate of incorporation provides that the Court of Chancery of the State of Delaware will be the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to choose other forums for disputes with us or our directors, officers or employees.

 

Preferred Stock – Limitations on the Rights of Holders of Class A Common Stock

 

Under the terms of our certificate of incorporation, our board of directors is authorized to direct us to issue shares of preferred stock in one or more series without stockholder approval. Our board of directors has the discretion to determine the rights, preferences, privileges and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, of each series of preferred stock.  The issuance of preferred stock could adversely affect the voting power of holders of our common stock and the likelihood that such holders will receive dividend payments and payments upon liquidation. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions, future financings and other corporate purposes, could have the effect of making it more difficult for a third party to acquire, or could discourage a third party from seeking to acquire, a majority of our outstanding voting stock.  

 

 

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Anti-Takeover Provisions

 

We are subject to Section 203 of the Delaware General Corporation Law. Subject to certain exceptions, Section 203 prevents a publicly held Delaware corporation from engaging in a “business combination” with any “interested stockholder” for three years following the date that the person became an interested stockholder, unless the interested stockholder attained such status with the approval of our board of directors or unless the business combination is approved in a prescribed manner. A “business combination” includes, among other things, a merger or consolidation involving us and the “interested stockholder” and the sale of more than 10% of our assets. In general, an “interested stockholder” is any entity or person beneficially owning 15% or more of our outstanding voting stock and any entity or person affiliated with or controlling or controlled by such entity or person.

 

Dual-Class Common Stock

 

As described above, our certificate of incorporation provides for a dual class common stock structure, which provides our founders, pre-IPO investors, executives and employees with significant influence over all matters requiring stockholder approval, including the election of directors and significant corporate transactions, such as a merger or other sale of our company or its assets.

 

Removal of Directors

 

Our certificate of incorporation and our bylaws provide that a director may be removed only for cause and only by the affirmative vote of the holders of at least 66 2/3% of the votes that all of our stockholders would be entitled to cast in an election of directors. Any vacancy on our board of directors, including a vacancy resulting from an enlargement of our board of directors, may be filled only by vote of a majority of our directors then in office, and not by the stockholders unless our board of directors otherwise directs.

 

The limitations on the removal of directors and filling of vacancies could make it more difficult for a third party to acquire, or discourage a third party from seeking to acquire, control of our company.

 

Super-Majority Voting

 

The Delaware General Corporation Law provides generally that the affirmative vote of a majority of the shares entitled to vote on any matter is required to amend a corporation’s certificate of incorporation or bylaws, unless a corporation’s certificate of incorporation or bylaws, as the case may be, requires a greater percentage. Our bylaws may be amended or repealed by a majority vote of our board of directors or the affirmative vote of the holders of at least 66 2/3% of the votes that all of our stockholders would be entitled to cast in an election of directors. In addition, the affirmative vote of the holders of at least 66 2/3% of the votes which all our stockholders would be entitled to cast in an election of directors is required to amend or repeal or to adopt any provisions inconsistent with certain provisions of our certificate of incorporation, including those described in this paragraph and those relating to the term and removal of our directors, the filling of a vacancy on our board of directors, the calling of special meetings of stockholders, stockholder action by written consent, the elimination of liability of directors to the maximum extent permitted by Delaware General Corporation Law, indemnification of our directors and officers and choice of forum.

 

Stockholder Action; Special Meeting of Stockholders

 

Our certificate of incorporation provides that so long as the outstanding shares of Class B common stock represent at least 50% of the total voting power of the outstanding shares of our capital stock, any action required or permitted to be taken by our stockholders must be effected at a duly called annual or special meeting of such stockholders and may not be effected by any consent in writing by such stockholders. Our certificate of incorporation and our bylaws also provide that, except as otherwise required by law, special meetings of our stockholders can only be called by our chairman of the board (or in the event of co-chairmen, either chairman), our chief executive officer, our president (if there is no chief executive officer), our board of directors or our secretary upon request by one or more stockholders of record who own, or who are acting on behalf of beneficial owners who own, in the aggregate, at least 20% of our outstanding shares of common stock on the record date as determined by 

 

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our bylaws, and who each have owned at least such number of shares in the aggregate continuously from one year prior to the record date through the conclusion of the requested special meeting. 

 

Authorized But Unissued Shares

 

The authorized but unissued shares of our common stock and preferred stock are available for future issuance without stockholder approval, subject to any limitations imposed by the listing standards of the NASDAQ Global Market (“NASDAQ”). These additional shares may be used for a variety of corporate finance transactions, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved common stock and preferred stock could make more difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.

 

Transfer Agent and Registrar

 

The transfer agent and registrar for our common stock is Computershare Trust Company, N.A. The address of the transfer agent and registrar is 250 Royall Street, Canton, Massachusetts 02021.

 

Listing

 

Our Class A common stock is listed on NASDAQ under the symbol “TTD”.

 

4ttd-ex1014_326.htm

EXHIBIT 10.14

SEPARATION AND ADVISORY AGREEMENT

THIS SEPARATION AND ADVISORY AGREEMENT (this “Agreement”) is made and entered into and effective as of February 5, 2021 (such effective date, the “Separation Date”), by and between The Trade Desk, Inc. (the “Company”), and Brian J. Stempeck (“Executive”).

RECITALS

	
 
	
A.
	
The Company and Executive have previously entered into that certain Employment Agreement, dated as of May 11, 2017 (the “Employment Agreement”).

	
 
	
B.
	
Effective as of the Separation Date, Executive and the Company mutually desire to terminate Executive’s employment with the Company and service as a member of the Company’s Board of Directors (the “Board”) on the terms and conditions set forth herein.

	
 
	
C.
	
Effective as of the Separation Date, in connection with and following Executive’s termination of employment, the Company wishes to secure the services of Executive, and Executive wishes to serve, as an advisor to the Board on the terms and conditions set forth herein.

AGREEMENT

In consideration of the foregoing recitals, the mutual promises contained herein, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

1.Termination of Employment.  

a.Termination of Employment, Employment Agreement. Effective as of the Separation Date, without further action on the part of the Company, Executive or any other person, (i) Executive’s employment with the Company and its subsidiaries and affiliates will terminate and Executive will cease to be an employee and/or officer of any and all of the foregoing, (ii) except as otherwise provided in this Agreement, the Employment Agreement shall terminate and neither the Company nor Executive shall have any further rights or obligations thereunder, and (iii) Executive’s service as a member of the Board will terminate and Executive will cease to be a director thereof. Notwithstanding the foregoing, the termination of the Employment Agreement shall not terminate or abridge the parties’ rights and obligations under Section 7 (“Confidential Information, Noncompetition and Cooperation”) thereof (including, for clarity, the rights and obligations under that certain Confidentiality Agreement, dated January 28, 2016, by and between the Company and Executive) (collectively, the “Restrictions”), which provisions shall survive such termination of the Employment Agreement and shall remain in full force and effect in accordance with their terms. Executive hereby acknowledges that he remains bound and agrees to abide by the Restrictions. 

b.Return of Company Property.  Executive acknowledges and agrees that, not later than the Separation Date, except as reasonably necessary to Executive’s continued provision of the Advisory Services (as described below), Executive shall return to the Company: (i) all keys, files, records (and copies thereof), equipment (including, but not limited to, computer hardware, software and printers, wireless handheld devices, cellular phones and pagers), access or credit cards, Company identification, and any other Company-owned property in Executive’s possession or control, and (ii) all documents and copies, including hard and electronic copies, of documents in Executive’s possession relating to any confidential information including without limitation, internal and external business forms, manuals, correspondence, notes and computer programs, and Executive shall not make or retain any copy or extract of any of the 

 

 

 

 

foregoing. No later than the termination of the Advisory Period (as defined below) for any reason, Executive shall return to the Company any of the foregoing items retained by Executive in accordance with this Section 1(b) in connection with the performance of his duties during the Advisory Period. 

2.Accrued Obligations.  The parties hereto acknowledge and agree that as of the Separation Date, the Company has paid to Executive in full the aggregate amount of Executive’s (i) earned but unpaid base salary, (ii) any accrued but unused vacation time, and (iii) any unpaid expense reimbursements, in each case, through the Separation Date and in accordance with Section 4(a) of the Employment Agreement, and that any vested benefits under any employee benefit plan of the Company (together with the amounts described in clauses (i) – (iii), the “Accrued Obligations”) will continue to be governed by the terms of the applicable benefit plan(s). Except as expressly provided herein, other than the Accrued Obligations, Executive is not entitled to any further payments in connection with or in respect of his employment with the Company and its subsidiaries and affiliates. 

3.Equity Awards.  The parties acknowledge and agree that: (i) the Company has previously granted to Executive the incentive stock options, nonqualified stock options, and restricted stock awards as set forth on Exhibit A (the “Equity Awards”); (ii) as of the Separation Date, Executive had not vested in such portion of these Equity Awards set forth on Exhibit A under the column entitled “Unvested Shares as of 2/5/2021”; (iii) the 4,711 unvested restricted shares subject to the restricted stock award granted to Executive on May 15, 2020 (as set forth on Exhibit A) (the “Advisory Shares”) shall remain outstanding and eligible to vest during the Advisory Period as set forth in Section 4(b) below and shall not by virtue of Executive’s employment termination be forfeited or canceled, and (iv) all of the Equity Awards (except for the Advisory Shares), to the extent unvested as of the Separation Date, together with any other unvested equity incentives or awards issued or promised by the Company or any of its affiliates (in each case, if any) shall, as of the Separation Date, be forfeited and canceled on the Separation Date without payment therefor.

4.Advisory Services.

a.General. Subject to and conditioned upon Executive’s continued employment with the Company through the Separation Date, during the period commencing on the Separation Date and ending on the date on which Executive’s advisory relationship with the Company is terminated as provided in Section 4(c) below (the “Advisory Period”), Executive shall serve in the capacity of a non-employee advisor to the Company and shall, at mutually convenient times, provide advisory services to the Company regarding strategy, direction and such other matters as the Company and Executive may mutually agree (the “Advisory Services”). Executive shall provide the Advisory Services to the Company at such time(s) and location(s) as are mutually agreed to by Executive and the Company, totaling approximately one day per week on average. During the Advisory Period, Executive shall comply with all applicable policies and procedures of the Company, as in effect from time to time (including, without limitation, travel and entertainment expense policies, technology use, insider trading, operating guidelines, confidentiality, background check and work authorization policies and procedures). 

b.Advisory Fees. Subject to and conditioned upon (i) Executive’s performance of the Advisory Services and (ii) Executive’s continued compliance with the Restrictions, and notwithstanding anything to the contrary contained in the applicable award agreement memorializing the grant of the Advisory Shares, the Advisory Shares shall remain outstanding and eligible to vest during the Advisory Period, and shall continue to vest in substantially equal quarterly installments over the remainder of the four-year period following May 15, 2020, subject to and conditioned upon Executive’s continued service hereunder through the applicable vesting date.  The vesting of the Advisory Shares shall be subject to any required withholding of federal, state and local taxes pursuant to any applicable law or regulation, which the Company shall be entitled to deduct and withhold in accordance with the terms and conditions of the applicable award agreement and equity plan. If Executive’s services hereunder terminate for any reason, 

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Executive shall forfeit and have no further interest in any Advisory Shares that remain unvested at the time of such termination.

c.Expenses. During the Advisory Period, Executive shall only be entitled to receive reimbursement of business expenses incurred by Executive in the performance of Executive’s services hereunder if and to the extent approved in advance in writing by an authorized representative of the Company.

d.Termination of Advisory Relationship. The advisory relationship established hereby may be terminated by the Company at any time and for any reason and with or without notice. If Executive terminates employment with the Company for any reason prior to the Separation Date or terminates his advisory role for any reason after the Separation Date and prior to May 15, 2024, in addition to the incentive equity forfeitures identified in Section 3 above, Executive shall not be eligible for any additional vesting contemplated by Section 4(b) above, and all then-unvested Advisory Shares (and any other Equity Awards and other incentive equity awards outstanding at such time, if any) shall be forfeited and canceled upon such termination without payment therefor.

e.Independent Contractor Status. The parties hereto acknowledge and agree that, following the Separation Date (including during the Advisory Period), Executive shall provide services to the Company solely in the capacity of an independent contractor and neither Executive nor any principal, employee or contractor of Executive shall be construed to be an employee of the Company in any matter under any circumstances or for any purposes whatsoever.  Nothing in this Agreement shall establish an agency, partnership, joint venture or employee relationship between the Company and Executive, and Executive shall not represent himself as an employee or officer of the Company and shall not purport to enter into any contract of commitment on behalf of the Company.  The Company and Executive agree and acknowledge that neither party hereto renders legal, tax or accounting advice to the other party.  Without limiting the generality of the foregoing, (i) the Company shall not pay, on the account of Executive or any principal, employee or contractor of Executive, any unemployment tax or other taxes required under the law to be paid with respect to employees and, except as set forth in Section 4(b), shall not withhold any monies from the fees payable pursuant to this Agreement for income or employment tax purposes, and (ii) the Company shall not provide Executive or any principal, employee or contractor of Executive with, and no such individual shall be eligible to receive from the Company under any Company plan, any benefits, including without limitation, any pension, health, welfare, retirement, workers’ compensation or other insurance benefits.  If and to the extent that any compensation (other than the vesting of the Advisory Shares) becomes payable to Executive in connection with the Advisory Services, Executive shall be solely responsible for all taxes arising in connection with any fees or other compensation paid to Executive hereunder, including without limitation any and all federal, state, local and foreign income and employment taxes; provided, that notwithstanding the foregoing, nothing contained herein shall interfere with or limit the Company’s right to deduct and withhold any such taxes from, upon the vesting of, or with respect to the Advisory Shares. 

f.Indemnification. If the Company or its officers, directors, employees or agents incur any liability or expense as a result of any claim that arises from Executive’s negligence, fraud or willful misconduct in connection with the performance of the Advisory Services or Executive’s breach of this Agreement, Executive shall indemnify the Company, its officers, directors, employees and agents and hold each of them harmless against all such liability or expense, including reasonable attorney’s fees.  

5.Additional Covenants.

a.Cooperation in Legal Proceedings. Executive agrees that, after the Separation Date, upon the reasonable request of the Company, Executive shall cooperate with and assist the Company 

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in undertaking and preparing for legal, regulatory or other proceedings relating to the affairs of the Company and its subsidiaries.  

b.Confidentiality. Executive agrees and understands that this Agreement does not supersede the Restrictions or reduce Executive’s obligations to comply with applicable laws relating to trade secrets, confidential information or unfair competition.  Further, Executive agrees that the existence and terms of this Agreement are not to be disclosed to anyone other than Executive’s spouse, attorney or tax advisor, and that Executive will advise such persons that they may not disclose the existence or terms of this Agreement to others except as required by law; provided, that nothing herein shall prohibit Executive from disclosing any information to the extent that such a prohibition violates the National Labor Relations Act or other applicable law. Executive further acknowledges, in accordance with the requirements of 18 U.S.C § 1833(b)(1) and any other applicable law, that the Company has advised Executive that Executive shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

c.Conflict of Interest. During the term of this Agreement, Executive shall not engage in any activity, employment or business arrangement which conflicts with his obligations hereunder or with the interest of the Company.  Executive shall disclose to the Company any activity, employment or business arrangement presently in effect, to be commenced, contemplated to be commenced or hereafter commenced by Executive during the Advisory Period and relating to this paragraph, and the Company will advise Executive in writing of the Company’s position with respect to any such situation. Without limiting any other provision of this Agreement, the Company shall have the option of terminating this Agreement at any time if, in its sole judgment, Executive does not comply with the provisions of this paragraph.

d.Severability; Conformance To Applicable Law. This Section 5 shall be interpreted to conform to any applicable law concerning the terms and enforcement of agreements to arbitrate employment disputes.  To the extent any terms or conditions of this Section 5 would preclude its enforcement, such terms shall be severed or interpreted in a manner to allow for the enforcement of this Section 5.  To the extent applicable law imposes additional requirements to allow enforcement of this Section 5, this Agreement shall be interpreted to include such terms or conditions. 

6.Miscellaneous.  

a.Section 409A. To the extent applicable, this Agreement shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretative guidance issued thereunder, including without limitation any such regulations or other such guidance that may be issued after the date hereof (collectively, “Section 409A”). In no event shall the Company, its affiliates or any of their respective officers, directors or advisors be liable for any taxes, interest or penalties imposed under Section 409A or any corresponding provision of state or local law. Any right to a series of installment payments pursuant to this Agreement is to be treated as a right to a series of separate payments.  To the extent required to comply with Section 409A, any payment or benefit required to be paid under this Agreement on account of termination of Executive’s employment or service (or any other similar term) shall be made only on account of a Separation from Service. Notwithstanding anything to the contrary in this Agreement, no compensation or benefits shall be paid to the Executive hereunder during the six (6)-month period following Executive’s “separation from service” from the Company (within the meaning of Section 409A, a “Separation from Service”) if the Company determines that paying such amounts at the time or times indicated in this Agreement would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code.  If the payment of any such amounts is delayed as a result of the previous sentence, then on 

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the first day of the seventh month following the date of Separation from Service (or such earlier date upon which such amount can be paid under Section 409A without resulting in a prohibited distribution, including as a result of Executive’s death), the Company shall pay the Executive a lump-sum amount equal to the cumulative amount that would have otherwise been payable to the Executive during such period.

b.Consultation with Counsel. Executive acknowledges (i) that he has consulted with or has had the opportunity to consult with independent counsel of his own choice concerning this Agreement and has been advised to do so by the Company, and (ii) that he has read and understands the Agreement, is fully aware of its legal effect, and has entered into it freely based on his own judgment.  Without limiting the generality of the foregoing, Executive acknowledges that he has had the opportunity to consult with his own independent tax advisors with respect to the tax consequences to him of this Agreement and the payments hereunder, and that he is relying solely on the advice of his independent advisors for such purposes.

c.Notices. For the purposes of this Agreement, notices, demands and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given when delivered either personally, by reputable overnight courier or by United States certified or registered mail, return receipt requested, postage prepaid, addressed as follows:

If to Executive:

 

At Executive’s last known address

evidenced on the Company’s 

payroll records.

 

If to the Company: 

 

The Trade Desk, Inc.

42 N. Chestnut Street

Ventura, CA 93001

 

or to such other address as any party may have furnished to the other in writing in accordance with this Agreement, except that notices of change of address shall be effective only upon receipt.

d.Amendment; Waiver. No provisions of this Agreement may be amended, modified, or waived unless agreed to in writing and signed by Executive and by a duly authorized officer of the Company. No waiver by either party of any breach by the other party of any condition or provision of this Agreement shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.  

e.Enforceability; Assignment; Governing Law; Captions. The invalidity or unenforceability of any provision or provisions of this Agreement will not affect the validity or enforceability of any other provision of this Agreement, which will remain in full force and effect. This Agreement is personal to Executive and, without the prior written consent of the Company, shall not be assignable by Executive.  This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California without regard to its conflicts of law principles. The captions in this Agreement are for convenience of reference only, and they form no part of this Agreement and will not affect its interpretation.

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f.Entire Agreement. This Agreement sets forth the final and entire agreement of the parties with respect to the subject matter hereof and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by the Company and Executive, or any representative of the Company or Executive, with respect to the subject matter hereof (including, without limitation, the Employment Agreement).

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

 

	
 
	
EXECUTIVE

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By:
	
 
	
/s/ Brian J. Stempeck

	
 
	
 
	
 
	
Brian J. Stempeck

 

 

	
 
	
THE TRADE DESK, INC.

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By:
	
 
	
/s/ Vina Leite

	
 
	
 
	
 
	
Vina Leite

	
 
	
Title:
	
 
	
CPO

 

 

 

 

 

 

 

 

Exhibit A

Unvested Equity Awards (to be forfeited)

				
	
Award Type
	
Grant Date
	
Exercise Price
	
Unvested Shares as of 2/5/2021 (to be forfeited)

	
Incentive Stock Option
	
December 1, 2017
	
$48.00
	
333

	
Non-Qualified Stock Option
	
December 1, 2017
	
$48.00
	
8,429

	
Restricted Stock Award
	
December 1, 2017
	
N/A
	
5,105

	
Incentive Stock Option
	
December 1, 2018
	
$142.45
	
702

	
Non-Qualified Stock Option
	
December 1, 2018
	
$142.45
	
7,343

	
Restricted Stock Award
	
December 1, 2018
	
N/A
	
4,655

	
Incentive Stock Option
	
December 1, 2019
	
$263.34
	
379

	
Non-Qualified Stock Option
	
December 1, 2019
	
$263.34
	
6,617

	
Restricted Stock Award
	
December 1, 2019
	
N/A
	
3,946

	
Incentive Stock Option
	
May 15, 2020
	
$300.01
	
333

	
Non-Qualified Stock Option
	
May 15, 2020
	
$300.01
	
7,761

 

Advisory Shares (eligible to vest during Advisory Period)

 

			
	
Award Type
	
Grant Date
	
Unvested Shares as of 2/5/2021

	
Restricted Stock Award
	
May 15, 2020
	
4,711

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