Document:

Exhibit 4.2

 

THIRD AMENDED AND RESTATED STOCKHOLDERS’ AGREEMENT

 

This Third Amended
and Restated Stockholders’ Agreement (this “Agreement”) made as of this 28th day of July, 2020
by, between and among Vertex, Inc., a Delaware corporation (the “Company”) and each Person identified on
Schedule 2 hereto and any other Person who becomes a party to this Agreement pursuant to the provisions hereof (each such
Person, individually, a “Stockholder” and, collectively, the “Stockholders”).

 

Recital

 

On July 16, 2020,
the Company converted from a Pennsylvania corporation (the “Pennsylvania Company”) to a Delaware corporation
by virtue of a merger of the Pennsylvania Company with and into the Company, with the Company continuing as the surviving corporation.

 

The Company is authorized
to issue 200,000 shares of Class A common stock, par value $0.001 per share, and 99,800,000 shares of Class B common
stock, par value $0.001 per share, of which 49,000 shares of Class A common stock and 40,147,500 shares of Class B common
stock are presently issued and outstanding.

 

The Pennsylvania Company
and the Stockholders, in their capacities as stockholders of the Pennsylvania Company, have been parties to that certain Second
Amended and Restated Shareholders’ Agreement dated February 28, 2014 (the “Prior Agreement”). The
Company and each of the Stockholders desire to amend and restate the Prior Agreement in its entirety in accordance with the terms
thereof and to continue to impose certain restrictions and obligations on themselves and to provide for an arrangement governing
certain dispositions of shares of Common Stock.

 

NOW THEREFORE, in consideration
of the premises, the mutual promises herein, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.             Definitions.
In addition to terms defined elsewhere in this Agreement, the following definitions shall apply to this Agreement:

 

“2001
Trusts” means, collectively, the AWR 2001 Trusts, the JRW 2001 Trusts, and the SWT 2001 Trusts (each, individually, a
 “2001 Trust”).

 

“2009
Trusts” means, collectively, the AWR 2009 Trust, the JRW 2009 Trust, and the SWT 2009 Trust (each, individually, a “2009
Trust”).

 

“Affiliate”
means, as to any Person, any other Person directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person. For purposes of this definition only, “control,” as used with respect
to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. For purposes of
this definition, the terms “controlling,” “controlled by” and “under common control with”
have correlative meanings.

 

    1 

     

    

 

“Applicable
Market Value” means the average of the Closing Price per share of Class A Stock on each of the ten (10) consecutive
Trading Days ending on the Trading Day immediately preceding the relevant date of determination, provided that if the Class A
Stock is not listed or regularly traded on any national or regional securities exchange or association or traded on the over-the-counter
market, the Applicable Market Value shall be the Fair Market Value per share.

 

“AWR”
means Amanda W. Radcliffe, a Stockholder hereto, as identified in Schedule 2.

 

“AWR
2001 Trusts” means those two separate and distinct trusts for the respective primary benefit of Antoinette R. Radcliffe
and Kailey A. Radcliffe under The Trust of Amanda W. Radcliffe dated October 5, 2001, and that certain trust known as the
 “Third Party Funded Special Needs Trust for Callum W. Radcliffe” dated May 15, 2015, each a Stockholder hereto,
as identified in Schedule 2.

 

“AWR
2009 Trust” means The Amanda W. Radcliffe Generation-Skipping Trust, a Stockholder hereto, as identified in Schedule
2.

 

“Business
Day” means any day other than a Saturday, Sunday or other day in the City of New York on which banking institutions are
authorized or required by applicable law or regulations to close.

 

“Class A
Stock” means the Class A common stock, par value $0.0001 per share, of the Company which is now or hereafter owned
or held by any Stockholder.

 

“Class B
Stock” means the Class B common stock, par value $0.0001 per share, of the Company which is now or hereafter owned
or held by any Stockholder.

 

“Closing
Price” means, on any date of determination, (i) if the Class A Stock is listed on one or more National Securities
Exchanges, each share of Class A Stock shall be valued at the closing price of a share of Class A Stock on the principal
exchange on which the shares are then trading on the most recent Trading Day preceding such date of determination, as reported
in The Wall Street Journal or such other source as the Company’s board of directors (the “Board”)
deems reliable, or (ii) if the Class A Stock is not traded on a National Securities Exchange but is quoted on a national
market or other quotation system, each share of Class A Stock shall be valued at the last sales price on the most recent Trading
Day preceding such date of determination, as reported in The Wall Street Journal or such other source as the Board deems
reliable, or (iii) if the Class A Stock is not publicly traded on a National Securities Exchange and is not quoted on
a national market or other quotation system, each share of Class A Stock shall be valued at the Fair Market Value per share.

 

“Commission”
means the U.S. Securities and Exchange Commission and any successor agency performing comparable functions.

 

“Common
Stock” means the Class A Stock and Class B Stock.

 

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“Fair
Market Value” means the price per share of the Class A Stock or Class B Stock, as applicable, as determined
as of a Relevant Date by a valuation prepared by a regionally or nationally recognized investment banking or valuation firm, which
valuation shall be done on a minority, non-marketable basis (if applicable to the price being determined). The investment banking
or valuation firm that had most recently been engaged by the Company shall be used to determine Fair Market Value per share under
this Agreement unless such firm is unavailable or the Company and the affected Stockholders agree otherwise on a replacement firm.
If such existing firm is not available and the parties do not agree on a replacement firm, the investment banking or valuation
firm shall be selected by the independent directors of the Company.

 

“Governmental
Authority” means any regional, federal, state or local legislative, executive or judicial body or agency, any court of
competent jurisdiction, any department, political subdivision or other governmental authority or instrumentality, or any arbitral
authority, in each case, whether domestic or foreign.

 

“Individual
Stockholders” or “Siblings” means, collectively, AWR, JRW, and SWT (each, individually, an “Individual
Stockholder” or “Sibling”).

 

“IPO”
means the initial public offering of the Company of Class A Stock pursuant to the Company’s registration statement on
Form S-1 (File No. 333-239644) filed with and declared effective by the Commission.

 

“JRW”
means Jeffrey R. Westphal, a Stockholder hereto, as identified in Schedule 2.

 

“JRW
2001 Trusts” means those three separate and distinct trusts for the respective primary benefit of Anne Marie Westphal,
Kyle R. Westphal and Jacob J. Westphal under The Trust of Jeffrey R. Westphal dated October 5, 2001, each a Stockholder hereto,
as identified in Schedule 2.

 

“JRW
2009 Trust” means The 2009 Jeffrey R. Westphal Generation-Skipping Trust, a Stockholder hereto, as identified in Schedule
2.

 

“National
Securities Exchange” means a national securities exchange registered under Section 6(a) of the Exchange Act.

 

“Person”
means any individual, partnership, corporation, limited liability company, association, trust, estate, or other entity.

 

“Proportionate
Share” means, with respect to a Stockholder who is then eligible to participate in a transaction involving Class A
Stock or Class B Stock pursuant to this Agreement, the percentage determined by the fraction, the numerator of which is the
number of shares of the Class A Stock or Class B Stock, as applicable, held by that Stockholder and the denominator of
which is the total number of shares of Class A Stock or Class B Stock, as applicable held by all Stockholders who are
then eligible to participate in such transaction involving Class A Stock or Class B Stock, as applicable, pursuant to
this Agreement; provided, however, that for purposes of making such determination as to a Stockholder who is an Individual Stockholder,
such Stockholder may elect to include the shares of Class B Stock held by any trust which such Stockholder established or
of which such Stockholder is a primary beneficiary in the numerator, and the Stockholder may elect to apply the percentage resulting
from such numerator to (i) the Individual Stockholder alone, (ii) any such trust alone, or (iii) a combination thereof
in such proportions as the Stockholder may elect.

 

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“Qualified
Extended Family Member” means a Qualified Family Member of Rainer J. Westphal.

 

“Qualified
Family Member” means, for any individual, (i) a lineal descendant of such individual by blood or adoption (a “Descendant”),
(ii) any spouse or widow or widower of such Descendant (but not a divorced former spouse or a spouse from whom such Descendant
currently is, or at the time of his or her death was, legally separated), or (iii) any stepchild or lineal descendant by blood
or adoption of a stepchild of such Descendant. Notwithstanding the foregoing, an adopted person whose adoption did not either occur
during the adopted person’s minority or reflect an earlier parent-child relationship with the adopting parent that had existed
during the adopted person’s minority, shall not be treated as the child of his or her adopted parent, and such adopted person
and his or her lineal descendants shall not be treated as the lineal descendants of the adopted parent or of any ancestor of the
adopted parent.

 

“Qualified
Foundation” means any foundation that is (i) primarily for the benefit of one or more Qualified Persons or (ii) a
donor-advised fund.

 

“Qualified
Person” means (i) Rainer J. Westphal, (ii) an Individual Stockholder, or (iii) any Qualified Extended
Family Member.

 

“Qualified
Sibling Family Member” means, for each Sibling, a Qualified Family Member of such Sibling.

 

“Qualified
Trust” means each 2009 Trust, each 2001 Trust and any other trust that (i) is primarily for the benefit of one
or more Qualified Persons, and (ii) as to which no Person other than a Qualified Person or another Qualified Trust is
currently eligible or entitled to receive any distribution of income or principal from the trust. For avoidance of doubt, the
mere possibility that, by reason of exercise of a power of appointment granted in the governing instrument or otherwise,
Persons other than Qualified Persons or other Qualified Trusts might at some future date become eligible or entitled to
receive distributions of income or principal from the trust shall not prevent a trust from being considered a Qualified
Trust.

 

“Registrable
Securities” means any of the following owned by any Stockholder: (i) any Class B Stock or other equity securities
of the Company into which the Class B Stock then outstanding shall be reclassified or changed, including by reason of a merger,
consolidation, reorganization, recapitalization or statutory conversion, and (ii) any equity securities of the Company then
outstanding which were issued as, or were issued directly or indirectly upon the conversion, exchange or exercise of other equity
securities issued or issuable as a dividend, stock split or other distribution with respect to or in replacement of any equity
securities referred to in clause (i) of this definition, provided, however, that Registrable Securities shall not include
any equity securities that (a) have been registered or sold in a registered offering pursuant to the Securities Act of 1933,
as amended (the “Securities Act”), (b) have been sold pursuant to Rule 144 or (c) are eligible
for resale by the Stockholder under Rule 144 in any single ninety-day period without volume or manner-of-sale restrictions,
as determined by the Company in its discretion after consultation with Company counsel.

 

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“Relevant
Date” means the last day of the month in which an event occurs giving rise to the necessity for determining the Fair
Market Value hereunder, including, a deemed Offer under Section 6, death under Section 7, a deemed Offer under Section 8,
or the notice of intent to sell under Section 9, as the case may be.

 

“Remaining
Stockholders” means the Stockholders other than, in the case of an Offer under Section 6 hereof, the Offeree, in
the case of the death of a Stockholder under Section 7 hereof, the Decedent and his or her estate, in the case of a bankruptcy
or insolvency under Section 8 hereof and the bankrupt or insolvent Stockholder. “Remaining Stockholders” shall
not include any Stockholder who is not a Qualified Person.

 

“Sibling
Affiliated Group” means the associated Sibling Affiliated Stockholders of a Stockholder.

 

“Sibling
Affiliated Stockholders” means, for each Sibling, (i) such Sibling, (ii) such Sibling’s Qualified Sibling
Family Members, (iii) such Sibling’s Affiliates (other than the other Siblings), and (iv) any Qualified Trust relating
to, and holding shares of Class B Stock on behalf of, such Sibling or such Sibling’s Qualified Sibling Family Members
for the primary benefit of, or other entity holding on behalf of, any one or more of such Sibling and his or her Qualified Sibling
Family Members.

 

“Subsidiary”
means with respect to any Person, any corporation, limited liability company, partnership, association, trust or other form of
legal entity, of which (a) such first Person directly or indirectly owns or controls at least a majority of the securities
or other interests having by their terms voting power to elect a majority of the board of directors or others performing similar
functions, or (b) such first Person is a general partner or managing member (excluding partnerships in which such Person or
any Subsidiary thereof does not have a majority of the voting interests in such partnership).

 

“SWT”
means Stefanie W. Thompson (formerly known as Stefanie W. Lucas), a Stockholder hereto, as identified in Schedule 2.

 

“SWT
2001 Trusts” means those four separate and distinct trusts for the respective primary benefit of Andrea P. Schmerin (f/k/a
Andrea P. Lucas), Melanie H. Lucas, Mackenzie S. Lucas and Samantha W. Lucas under The Trust of Stefanie W. Lucas dated October 5,
2001, each a Stockholder hereto, as identified in Schedule 2.

 

“SWT
2009 Trust” means The 2009 Stefanie W. Lucas Generation-Skipping Trust, a Stockholder hereto, as identified in Schedule
2.

 

“Trading
Day” means any day on which the Class A Stock is traded on a National Securities Exchange, or, if the Class A
Stock is not traded on a National Securities Exchange, then on the principal securities exchange or securities market on which
the Class A Stock is then traded.

 

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“Transfer”
means any sale, exchange, gift, bequest, pledge, hypothecation, encumbrance, descent or distribution pursuant to intestacy laws
or other operation of law, or any other direct or indirect disposition of Class B Stock which would change the legal or beneficial
ownership thereof, including without limitation the creation of any form of common or joint ownership in Class B Stock between
a Stockholder and one or more Persons.

 

“Will”
means a testamentary document including an individual’s last Will and a so-called “living” (or “revocable”)
trust that is revocable by the individual during his or her lifetime and becomes irrevocable upon his or her death;

 

2.             Restrictions
on Transfer and Issue of Class B Stock. All shares of Class B Stock now owned or hereafter acquired by the
Stockholders shall be issued, held and Transferred under and subject to the terms and provisions of this Agreement. Except as
otherwise expressly provided herein, the Stockholders shall not Transfer any shares of Class B Stock, and any Transfer or
attempt to Transfer shares of Class B Stock shall be null and void and shall be given no effect by the Company until the
applicable terms and conditions of this Agreement are complied with. The Company shall not record the Transfer or attempted Transfer
of any Class B Stock not made in accordance with the terms and conditions of this Agreement on the books and records of the
Company. For the avoidance of doubt, in no event shall Class B Stock be owned or held by anyone who is not a Qualified Person
or a Sibling Affiliated Stockholder.

 

3.             Authorized
Transfers. Notwithstanding anything to the contrary in this Agreement, including Sections 2, 4, 6, 7 and 8 hereof, each of
the Transfers described in paragraphs (a), (b) and (d) of this Section 3 are expressly authorized under this Agreement:

 

(a)           A
Stockholder may Transfer all or a portion of such Stockholder’s shares of Class B Stock to (i) any other Stockholder,
(ii) any Qualified Extended Family Member, (iii) any Qualified Trust, or (iv) any Qualified Foundation.

 

(b)           A
Stockholder may Transfer all or a portion of such Stockholder’s shares of Class B Stock (i) to the Company, (ii) to
underwriters pursuant to the terms of an underwriting agreement, including in connection with the exercise of any over-allotment
option granted to the underwriters in the IPO, or with the prior written consent of the lead underwriter on behalf of the underwriters
in an offering by the Company and/or other selling stockholders of securities pursuant to an effective registration statement under
the Securities Act, or in a private placement by the Company and/or other selling stockholders of securities that has been approved
by at least a majority of the disinterested members of the Board, (iii) pursuant to the terms of any planned trading program
effected pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
that has been approved by at least a majority of the disinterested members of (A) the Board or (B) a committee of the
Board authorized to take such action, or (iv) as otherwise permitted by this Agreement.

 

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(c)           In
the event that any shares of Class B Stock are Transferred to a Person (including, without limitation, any Affiliate of any
Stockholder) in accordance with the terms of this Agreement who is not already a party to and bound by this Agreement, such Person
shall, as a condition precedent to the consummation of such Transfer, execute and deliver to the Company a joinder agreement to
this Agreement, as may further be amended from time to time, substantially in the form of Exhibit A attached hereto (a “Joinder
Agreement”), and such Person shall thereupon be deemed to be a Stockholder hereunder. The Transfer of shares of Class B
Stock to such Person shall not be given effect and shall not be recorded on the books and records of the Company until such Person
executes and delivers to the Company a Joinder Agreement, and any Transfer or attempted Transfer in violation thereof shall be
null and void.

 

(d)           All
Transfers of shares of Common Stock pursuant to those certain Share Purchase Agreements, dated July 20, 2020, by and among
the Company and the parties named therein (the “Share Purchase Agreement”) are expressly authorized under this
Agreement.

 

4.             Pledges.
Any Stockholder (the “Pledging Stockholder”) may assign, Transfer, pledge, hypothecate or encumber (“Pledge”)
any of his or her shares of Class B Stock (the “Pledged Interest”) to an individual or entity (the “Pledgee”)
for the purpose of securing the obligation of the Pledging Stockholder or any other Person to repay a loan or to render any other
performance, subject to each of the requirements set forth in paragraphs (a) through (d) of this Section 4:

 

(a)           Prior
to the third anniversary of this Agreement, no Stockholder may so Pledge to a Pledgee who is not a Stockholder without the prior
consent of Stockholders holding at least a majority of the outstanding shares of Class B Stock if the Pledged Interest exceeds
thirty percent (30%) of the shares held by such Stockholder and his or her Sibling Affiliated Group.

 

(b)           No
Pledge made pursuant to this Section 4, nor any related loan, obligation or other performance, shall be conditioned upon
or in any way related to the financial performance or position of the Company, or require a guarantee or other form of support
by the Company or any other Stockholder.

 

(c)           No
Pledging Stockholder shall engage in any transaction (including a Pledge) with the Pledgee without first providing the Company
with five (5) Business Days’ prior notice of the proposed transaction with the Pledgee.

 

(d)           No
Pledging Stockholder shall engage in any transaction (including a Pledge) with the Pledgee without first entering into an agreement
(the “Pledge Agreement”) with the Pledgee that expressly requires that, should the Pledgee desire and if the
Pledge Agreement otherwise permits, the Pledgee may take for itself or Transfer to any Person other than the Pledging Stockholder
the title to the Pledged Interest only if, prior to so taking or Transferring the Pledged Interest, the following conditions are
met:

 

(i)            The
Pledgee shall allow the Company or one or more Sibling Affiliated Stockholders to assume the Pledging Stockholder’s obligations
under the Pledge Agreement; and

 

(ii)           If
neither the Company nor any Sibling Affiliated Stockholders elects to assume the Pledging Stockholder’s obligations under
the Pledge Agreement, the Pledged Interest shall be deemed Offered Stock, the Pledging Stockholder shall be deemed an Offeree,
the Pledgee shall be deemed a Third Party to whom the Offeree desires to Transfer such Offered Stock, and the Remaining Stockholders
and/or the Company shall have the opportunity to purchase shares of Offered Stock through the procedures under Sections 6(a) through
6(d) hereof, provided that if the Remaining Stockholders and/or the Company do not elect to purchase all of the Offered Stock,
the Offeree shall be obligated to Transfer the remaining balance of the Offered Stock as required under the Pledge Agreement.

 

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5.             Legend
on Registrable Securities. Each certificate or other documents representing Registrable Securities now owned or hereafter
acquired by the Stockholders shall have the following legend endorsed thereon until such time as the Registrable Securities represented
thereby are no longer subject to the provisions hereof or such legend is no longer applicable (as determined by the Company in
its sole discretion):

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR UNDER ANY STATE SECURITIES LAWS,
AND MAY NOT BE SOLD, TRANSFERRED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION
THEREFROM UNDER SAID ACT OR SUCH LAWS AND THE RULES AND REGULATIONS THEREUNDER.

 

THE VOTING, SALE, TRANSFER, ENCUMBRANCE
OR OTHER DISPOSITION OF THE SECURITIES REPRESENTED BY THIS

CERTIFICATE IS SUBJECT TO THE TERMS
AND CONDITIONS OF A STOCKHOLDERS’ AGREEMENT, DATED AS OF JULY 28, 2020, AMONG VERTEX, INC. AND CERTAIN HOLDERS OF ITS
CLASS B STOCK (AS THE SAME MAY BE AMENDED, MODIFIED, SUPPLEMENTED OR RESTATED FROM TIME
TO TIME), A COPY OF WHICH MAY BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS CERTIFICATE TO
THE SECRETARY OF VERTEX, INC.”

 

6.             Rights
of First Offer/Refusal.

 

(a)           If
a Stockholder (the “Offeree”) desires to Transfer all or any part of Offeree’s shares of Class B
Stock (the “Offered Stock”) to an unrelated third party that is not a Sibling Affiliated Stockholder (a “Third
Party”), other than as permitted under Section 3 hereto (in which case, for the avoidance of doubt, this Section 6
will not apply), prior to soliciting an offer to buy the Offered Stock from or entering into any discussions or negotiations with
any such Third Party, the Offeree shall first give notice of such desire to sell the Offered Stock to the Sibling to whom the Offeree
is a Sibling Affiliated Stockholder (the “Sibling Notice”), provided that if the Offeree is Rainer J. Westphal
or a Sibling, no such Sibling Notice nor Sibling Election Period shall be required, and the Offeree may instead proceed to give
the Initial Notice through the provisions of Section 6(b) hereof. Upon receipt of the Sibling Notice, the Sibling shall
have the right, but not the obligation, to elect to purchase all or part of the Offered Stock (the “Sibling Election Right”)
or to extend the Sibling Election Right to such other of his or her Sibling Affiliated Stockholders in such proportions as the
Sibling may elect in his or her sole discretion. Any such election by the Sibling or by one or more of his or her Sibling Affiliated
Stockholders shall be made by giving notice of such election to the Offeree and each other Stockholder having the Sibling Election
Right within ten (10) days from the Sibling’s receipt of the Sibling Notice (the “Sibling Election Period”).
In the event that any Stockholder does not exercise his, her or its Sibling Election Right within the Sibling Election Period,
then such Stockholder shall be deemed to have irrevocably waived his, her or its right to elect to purchase shares of Offered Stock
during the Sibling Election Period and during the subsequent Initial Election Period and Secondary Election Period.

 

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(b)           Upon
the date that is the earlier of the conclusion of the election period or the receipt by the Offeree of a notice of election
or express notice in writing rejecting the offer to purchase Offered Stock from each Stockholder having an election right
associated with such election period (the “Termination Date”) related to the Sibling Election Period, if
there remains any Offered Stock that has not yet been elected to be purchased (the “Remaining Offered
Stock”), the Offeree shall give notice to the Remaining Stockholders who have not previously waived their right to
elect to purchase shares of Offered Stock (the “Eligible Remaining Stockholders”) and to the Company (the
 “Initial Notice”). Upon receipt of the Initial Notice from the Offeree, the Eligible Remaining
Stockholders shall each have the right, but not the obligation, to elect to purchase a number of shares, up to each Eligible
Remaining Stockholder’s Proportionate Share, of the Remaining Offered Stock (the “Initial Election
Right”), by giving notice of such election to the Offeree and each other Stockholder having the Initial
Election Right (the “Initial Notice of Election”) within thirty (30) days from the receipt of the Initial
Notice (the “Initial Election Period”). In the event that any Eligible Remaining Stockholder does not
exercise his, her or its Initial Election Right within the Initial Election Period, then such Eligible Remaining Stockholder
shall be deemed to have irrevocably waived his, her or its right to elect to purchase shares of Remaining Offered Stock
during the Initial Election Period and during the subsequent Secondary Election Period.

 

(c)           Upon
the Termination Date related to the Initial Election Period, if there exists any Remaining Offered Stock, the Offeree shall give
notice of the Remaining Offered Stock to the Eligible Remaining Stockholders and to the Company (the “Secondary Notice”).
Upon receipt of the Secondary Notice, the Eligible Remaining Stockholders shall each have the right, but not the obligation, to
elect to purchase a number of shares up to each Eligible Remaining Stockholder’s Proportionate Share, of the Remaining Offered
Stock plus any or all Remaining Offered Stock that the other Eligible Remaining Stockholders do not elect to purchase, (the “Secondary
Election Right”), by giving notice of such election to the Offeree and each other Stockholder having the Secondary Election
Right (the “Secondary Notice of Election”) within ten (10) days from the receipt of the Secondary Notice.
If any Remaining Offered Stock is over-subscribed by the Eligible Remaining Stockholders at the conclusion of such ten (10) days,
any Eligible Remaining Stockholders who have previously given a Secondary Notice of Election shall each be permitted to elect to
purchase their Proportionate Share, or such other amount to which such subscribing Eligible Remaining Stockholders all agree, of
the over-subscribed Remaining Offered Stock, by giving an updated Secondary Notice of Election within fifteen (15) days from the
receipt of the Secondary Notice (the “Secondary Election Period”). In the event that any Stockholder does not
exercise his, her or its Secondary Election Right within the Secondary Election Period, then such Stockholder shall be deemed to
have irrevocably waived his, her or its right to elect to purchase shares of Offered Stock during the Secondary Election Period.

 

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(d)           Upon
the Termination Date related to the Secondary Election Period, if there exists any Remaining Offered Stock, the Offeree shall give
notice of the Remaining Offered Stock to the Company (the “Company Notice”). Upon receipt of the Company Notice,
the Company shall have the right, but not the obligation, to elect to purchase all, but not less than all, of the Remaining Offered
Stock, (the “Company Election Right”), by giving notice of such election to the Offeree within fifteen (15)
days from the receipt of the Company Notice (the “Company Election Period”). In determining whether or not the
Company shall purchase the Remaining Offered Stock, the Offeree (as a member of the Board, Stockholder or otherwise) shall not
participate in the Company’s decision-making process. In the event that the Company does not exercise its Company Election
Right within the Company Election Period, then the Company shall be deemed to have irrevocably waived its right to elect to purchase
the Remaining Offered Stock during the Company Election Period.

 

(e)           Upon
the Termination Date related to the Company Election Period, if there exists any Remaining Offered Stock, then the Offeree may
seek a bona fide offer in writing from a Third Party (an “Offer”) to purchase the Remaining Offered Stock.

 

(f)            If,
at any time, a Stockholder (whether or not an Offeree) receives an Offer to purchase all or any part of the Stockholder’s
Class B Stock, the Stockholder shall promptly forward the Offer to the Board. In the event that the Offer relates to Class B
Stock that has not previously been offered to the Sibling to whom the Offeree is a Sibling Affiliated Stockholder, the Remaining
Stockholders and Company, as applicable through the procedures of Sections 6(a) through 6(d) hereto, and the Stockholder
desires to accept the Offer, the Stockholder’s Class B Stock that is subject to the Offer shall be deemed Offered Stock,
the Stockholder shall be deemed an Offeree under this Agreement and the Sibling to whom the Offeree is a Sibling Affiliated Stockholder,
the Remaining Stockholders and the Company, as applicable, shall have the opportunity to purchase such shares of Offered Stock
through the procedures under Sections 6(a) through 6(d) hereof. If all of the Offered Stock is not purchased through
the procedures under Sections 6(a) through 6(d) hereof by the Sibling to whom the Offeree is a Sibling Affiliated Stockholder,
the Remaining Stockholders or the Company, as applicable, then any Remaining Offered Stock may be sold by the Offeree to the Third
Party, and any Remaining Offered Stock so sold to the Third Party shall automatically convert into Class A Stock in accordance
with the Company’s Certificate of Incorporation, as it may be amended and restated from time to time.

 

(g)           If
upon the Termination Date related to any Company Election Period there exists any Remaining Offered Stock, and all such Remaining
Offered Stock is not Transferred to a Third Party within fifteen (15) days of such Termination Date, such Offer shall be deemed
to have expired and any Remaining Offered Stock must be reoffered to the Sibling to whom the Offeree is a Sibling Affiliated Stockholder,
the Remaining Stockholders and the Company, as applicable, through the procedures of Sections 6(a) through 6(d) hereof
before it may be Transferred to any Third Party.

 

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(h)           All
purchases and sales of shares of Class B Stock pursuant to this Section 6 shall occur at a sale price equal to the Applicable
Market Value and shall be settled:

 

(i)            in
the case of a private placement, within three (3) Business Days; and

 

(ii)           in
the case of a public offering pursuant to a registration, within the number of Business Days specified in the applicable prospectus.

 

7.             Death
of an Individual Stockholder.

 

(a)           In
the event of a death of an Individual Stockholder (the “Decedent”), upon the subsequent occurrence of any attempt
to Transfer any of Decedent’s Class B Stock other than as permitted under Section 3(a) (such attempted Transfer,
the “Triggering Event”), the shares of Decedent’s Class B Stock subject to such attempted Transfer
shall be deemed Offered Stock and the Decedent’s estate shall be deemed an Offeree for purposes of this Section 7.

 

(b)           The
2009 Trust for the benefit of the Offeree shall have the right, but not the obligation, to elect to purchase some or all of the
Offered Stock (the “2009 Trust Election Right”) by giving notice of such election to the Offeree (the “2009
Trust Notice of Election”) within twenty

(20) days from the Triggering Event (the
 “2009 Trust Election Period”). In the event that such 2009 Trust does not exercise
its 2009 Trust Election Right within the 2009 Trust Election Period, then such 2009 Trust shall be deemed to have irrevocably waived
its right to elect to purchase shares of Offered Stock during the 2009 Trust Election Period.

 

(c)           Upon
the Termination Date related to the 2009 Trust Election Period, the Offeree shall notify or cause such 2009 Trust to notify the
Company and the Remaining Stockholders of the decision of such 2009 Trust as to the extent to which it will exercise its 2009 Trust
Election Right (the “2009 Trust Notice”). If there exists any Remaining Offered Stock, the 2001 Trusts established
by the Decedent shall then have the right, but not the obligation, to elect to purchase (in equal shares, or in such other proportions
as such 2001 Trusts shall agree among themselves) some or all of the Remaining Offered Stock (the “2001 Trust Election
Right”) by giving notice of such election to the Offeree, the Remaining Stockholders and the Company (the “2001
Trust Notice of Election”) within twenty (20) days of the receipt of the 2009 Trust Notice (the “2001 Trust
Election Period”). In the event that any such 2001 Trust does not exercise its 2001 Trust Election Right within the 2001
Trust Election Period, then such 2001 Trust shall be deemed to have irrevocably waived its right to elect to purchase shares of
Offered Stock during the 2001 Trust Election Period.

 

(d)           Upon
the Termination Date related to the 2001 Trust Election Period, the Offeree shall notify or cause such 2001 Trusts to notify the
Company and the Remaining Stockholders of the decision of such 2001 Trusts as to the extent to which they will exercise their 2001
Trust Election Right (the “2001 Trust Notice”). If there exists any Remaining Offered Stock, such Remaining
Offered Stock shall be deemed Offered Stock and the Offeree shall be deemed an Offeree for purposes of Section 6 hereof, and
the Sibling to whom the Offeree is a Sibling Affiliated Stockholder, the Remaining Stockholders and the Company, as applicable,
shall have the opportunity to purchase shares of Offered Stock through the procedures under Sections 6(a) through 6(d) hereof,
after which, the Offeree shall have the opportunity to seek the Transfer of any Remaining Offered Stock to a Third Party through
the procedures under Sections 6(e) through 6(g) hereof.

 

(e)           All
purchases and sales of shares of Class B Stock pursuant to this Section 7 shall be upon the sale terms set forth in Section 6(h) hereof.

 

    11

     

    

 

8.             Bankruptcy
or Insolvency of a Stockholder.

 

(a)           In
the event a petition in bankruptcy is filed by or against a Stockholder and not dismissed within sixty (60) days from the date
of filing, a Stockholder makes an assignment for the benefit of creditors, or all or substantially all of the real or personal
property of a Stockholder is levied upon or sold in any judicial proceedings, any such event shall be deemed a Triggering Event,
such Stockholder’s shares of Class B Stock shall be deemed Offered Stock and such Stockholder shall be deemed an Offeree
for the purposes of Section 7 hereof and such Stockholder shall give prompt notice thereof to the Remaining Stockholders and
the Company. The Remaining Stockholders and the Company shall then have the opportunity to purchase shares of Offered Stock

in accordance with the procedures set forth
in Sections 7(b) through 7(d) hereof, except that (i) references to the 2009 Trust in Sections 7(b) through
7(d) shall be deemed to refer to the 2009 Trust for the benefit of the Sibling to whom the Offeree
is a Sibling Affiliated Stockholder and (ii) references to the 2001 Trusts shall be deemed to refer to the 2001 Trusts established
by the Sibling to whom the Offeree is a Sibling Affiliated Stockholder.

 

(b)           All
purchases and sales of shares of Class B Stock pursuant to this Section 8 shall be upon the sales terms set forth in
Section 6(h) hereof.

 

(c)           Any
purported Transfer of such bankrupt or insolvent Stockholder’s shares of Class B Stock other than through this Section 8,
whether involuntary or otherwise, shall not be given effect, shall be null and void, and the Company shall not be required to record
such Transfer on its books and records.

 

9.             Subscription
Rights.

 

(a)            In
the event the Company desires to issue, in a transaction exempt from registration under the Securities Act, any new shares of Class A
Stock (or any securities convertible into, exercisable for, or exchangeable for Class A Stock) other than securities issued
to any director, employee or consultant of or to the Company or any of its Subsidiaries pursuant to an equity-incentive plan approved
by the Board and securities issued in connection with stock splits, stock dividends, in-kind equity distributions, recapitalizations
and stockholders’ rights plans (collectively, “New Securities,” and, deemed for purposes of this Section 9,
Offered Stock), the Company shall first provide written notice of such desire to issue the Offered Stock to each Stockholder at
least ten (10) days prior to such proposed issuance, which notice shall set forth a description of the Offered Stock, the
price and terms upon which the Company proposes to issue the Offered Stock, the number of shares of Offered Stock equal to such
Stockholder’s Proportionate Share and the aggregate purchase price therefor (the “New Securities Initial Notice”).
Upon receipt of the New Securities Initial Notice, the Stockholders shall each have the right, but not the obligation, to elect
to purchase a number of shares, up to each Stockholder’s Proportionate Share, of the Offered Stock (the “New Securities
Initial Election Right”), by giving notice of such election to the Company and each other Stockholder within five (5) days
from the receipt of the New Securities Initial Notice (the “New Securities Initial Election Period”). In the
event that any Stockholder does not exercise his, her or its New Securities Initial Election Right within the New Securities Initial
Election Period, then such Stockholder shall be deemed to have irrevocably waived his, her or its right to elect to purchase shares
of Offered Stock during the New Securities Initial Election Period and during the subsequent New Securities Secondary Election
Period.

 

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(b)           Upon
the Termination Date of the New Securities Initial Election Period, if there exists any Remaining Offered Stock, the Company
shall give notice of the Remaining Offered Stock to the Eligible Remaining Stockholders (the “New Securities
Secondary Notice”). Upon receipt of the New Securities Secondary Notice, the Eligible Remaining Stockholders shall
each have the right, but not the obligation, to elect to purchase a number of shares up to each Eligible Remaining
Stockholder’s Proportionate Share, of the Remaining Offered Stock plus any or all Remaining Offered Stock that
the other Eligible Remaining Stockholders do not elect to purchase (the “New Securities Secondary Election
Right”), by giving notice of such election to the Company and each other Eligible Remaining Stockholder (the
 “New Securities Secondary Notice of Election”) within three (3) days from the receipt of the New
Securities Secondary Notice. If any Remaining Offered Stock is over-subscribed by the Eligible Remaining Stockholders
exercising their New Securities Secondary Election Right, any Eligible Remaining Stockholders who have previously given a New
Securities Secondary Notice of Election shall each be permitted to elect to purchase their Proportionate Share, or such other
amount to which such subscribing Eligible Remaining Stockholders all agree, of the over-subscribed Remaining Offered Stock,
by giving an updated New Securities Secondary Notice of Election within two (2) days from the receipt of the New
Securities Secondary Notice (the “New Securities Secondary Election Period”). In the event that any
Stockholder does not exercise his, her or its New Securities Secondary Election Right within the New Securities Secondary
Election Period, then such Stockholder shall be deemed to have irrevocably waived his, her or its right to elect to purchase
shares of Offered Stock during the New Securities Secondary Election Period.

 

(c)           All
purchases and sales of shares of New Securities pursuant to Sections 9(a) and 9(b) hereof shall occur at the sale price
and upon the other terms specified in the New Securities Initial Notice and shall be settled:

 

(i)            in
the case of a private placement, within three (3) Business Days; and

 

(ii)           in
the case of a public offering pursuant to a registration, within the number of Business Days specified in the applicable prospectus.

 

(d)           Upon
the Termination Date of the New Securities Secondary Election Period, if there exists any Remaining Offered Stock, the Company
shall have seventy five (75) days thereafter (the “New Securities Issuance Period”) to issue and sell the Remaining
Offered Stock to one or more Third Parties at a price and upon such other terms no more favorable to the purchasers thereof than
those specified in New Securities Initial Notice.

 

(e)           Upon
the conclusion of the New Securities Issuance Period, if there exists any Remaining Offered Stock, such Remaining Offered Stock
must be reoffered to the Stockholders through the procedures of Sections 9(a) through 9(b) hereof before the Company
may issue and sell it to one or more Third Parties.

 

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(f)            The
purchase rights granted by this Section 9 shall be exercisable only by “accredited investors” as defined under
Section 501 of Regulation D of the Securities Act.

 

(g)           The
exercise or non-exercise of the rights of Stockholders under this Section 9 shall not adversely affect their rights to participate
in subsequent offerings of New Securities subject to Section 9.

 

10.           Board
Seats.

 

(a)           For
so long as an Individual Stockholder, together with his or her Sibling Affiliated Stockholders, holds at least five percent (5%)
of all issued and outstanding shares of Common Stock, such Individual Stockholder shall have the right to designate one (1) individual
(a “Nominee”), for nomination to the Board. The Company shall include, and shall use its best efforts to cause
the Board (subject to the Board’s fiduciary duties), whether acting through the nominating and corporate governance committee
or otherwise, to include, such Nominee, in the slate of nominees recommended to the Company’s stockholders for election as
a director at the next annual or special meeting of stockholders at or by which directors of the Company are to be elected.

 

(b)           Upon
the death of an Individual Stockholder, so long as the Sibling Affiliated Stockholders of such Individual Stockholder hold at least
five percent (5%) of all issued and outstanding Common Stock, the Qualified Family Members of such Individual Stockholder shall
collectively assume the right to designate a Nominee previously held by such Individual Stockholder pursuant to Section 10(a) hereof,
which right shall be exercised in such Qualified Family Members’ discretion.

 

11.           Voting.

 

(a)           Notwithstanding
anything to the contrary contained elsewhere in this Agreement, control over the voting rights of any shares of Class B Stock
held by Stockholders may be exercised only by Qualified Person(s) or the trustees of a Qualified Trust. Such Persons may exercise
such voting rights (i) in person, (ii) by proxy, but only if the proxy holder is a Qualified Person, the trustee of a
Qualified Trust, or an Applicable Proxy under Section 11(d) hereof, (iii) by written consent, or (iv) in any
other matter permitted by applicable law, but only if the Person exercising such voting rights is a Qualified Person, the trustee
of a Qualified Trust, or an Applicable Proxy under Section 11(d) hereof.

 

(b)           At
any annual or special meeting of the stockholders of the Company involving the election of directors, each Stockholder shall be
required to vote, or provide written consent on behalf of, all of his, her or its shares of Common Stock in favor of each Nominee
to serve on the Board.

 

(c)           For
all matters other than the election of directors, voting shall be discretionary at the option of each Stockholder.

 

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(d)           In
order to secure each Stockholder’s obligation to vote its, his or her shares in accordance with the provisions of
Section 11(b) hereof (the “Voting Obligations”), each Stockholder hereby constitutes and
appoints, in connection with each vote pursuant to Section 11(b), the President of the Company and any other person
designated by the Board, and each of them (the “Applicable Proxy”) as his, her or its true and lawful
proxy and attorney-in-fact, with full power of substitution, to represent and vote all of such Stockholder’s shares of
Common Stock in accordance with such Stockholder’s Voting Obligations. The Applicable Proxy may exercise the
irrevocable proxy granted to it hereunder at any time any Stockholder fails to vote (including by failing to cause such
Stockholder’s shares to be present at the meeting) or attempts to vote (whether by proxy, in person or by written
consent) in a manner that does not comply with the Voting Obligations. The proxies and powers granted by each Stockholder
pursuant to this Section 11(d) are coupled with an interest and are given to secure the performance of the
obligations under this Agreement. Such proxies and powers shall be irrevocable until the termination of this Agreement and
shall, to the fullest extent permitted by law, survive the death, incompetency and disability of each such Stockholder who is
an individual and the existence of each such Stockholder that is a trust or other entity. It is understood and agreed that
the Applicable Proxy will not use such irrevocable proxy unless a Stockholder fails to vote (including by failing to cause
such Stockholder’s shares to be present at the meeting) or attempts to vote (whether by proxy, in person or by written
consent) in a manner that does not comply with the Voting Obligations and that, to the extent the Applicable Proxy uses such
irrevocable proxy, it will only vote such Stockholder’s shares of Common Stock with respect to the matters specified
in, and in accordance with the provisions of, Section 11(b). Except as otherwise permitted by this Agreement or by the
Company’s Certificate of Incorporation, as it may be amended and restated from time to time, each Stockholder hereby
revokes any and all previous proxies or powers of attorney with respect to such Stockholder’s shares and shall not
hereafter, until the termination of this Agreement, grant, or purport to grant, any other proxy or power of attorney with
respect to such shares, deposit any of such shares into a voting trust or enter into any agreement (other than this
Agreement), arrangement or understanding with any person, directly or indirectly, to vote, grant any proxy or power of
attorney or give instructions with respect to the voting of any of such shares, in each case, with respect to the Voting
Obligations.

 

12.           Standstill.

 

(a)           So
long as a Stockholder owns shares of Class B Stock, such Stockholder agrees that he, she or it shall not (in his, her or its
capacity as a Stockholder), unless previously consented to by each member of the Board and the Stockholders holding at least a
majority of the outstanding shares of Class B Stock, or otherwise permitted under this Agreement, effect, seek, offer or propose
(whether publicly or otherwise) to effect, or announce any intention to effect or cause or participate in or in any way assist,
facilitate or encourage any other Person to effect or seek, offer or propose (whether publicly or otherwise) to effect or participate
in:

 

(i)            any
acquisition of any securities (or beneficial ownership thereof) of the Company or any of its Subsidiaries (except through the proper
exercise of purchase rights granted hereunder), or rights or options to acquire any securities (or beneficial ownership thereof),
other than through:

 

A.           market-based
purchases of up to an aggregate of two percent (2%) of issued and outstanding equity of the Company in any twelve (12) month period;

 

B.           the
exercise or conversion of outstanding securities; or

 

C.           equity
awards from the Company;

 

    15

     

    

 

(ii)            any
tender or exchange offer, merger or other business combination involving the Company, any of the Subsidiaries or Affiliates or
assets of the Company or the Subsidiaries or Affiliates constituting a significant portion of the consolidated assets of the Company
and its Subsidiaries or Affiliates;

 

(iii)          any
recapitalization, restructuring, liquidation, dissolution or other extraordinary transaction with respect to the Company or any
of its Subsidiaries or Affiliates; or

 

(iv)          any
 “solicitation” of a “proxy” (as such terms are defined in Rule 14a-1 under the Exchange Act) or
written consents with respect to any voting securities of the Company or any of its Affiliates.

 

(b)           Each
Stockholder further agrees that, if at any time during such period, such Stockholder is approached by any Person seeking such Stockholder’s
participation in a matter of one of the types addressed in this Section 12, such Stockholder will promptly inform the Board
of the nature of the matter and the parties involved.

 

13.           Registration
Rights.

 

(a)           Demand
Registration.

 

(i)            Subject
to the terms of this Agreement, at any time at least one hundred and eighty (180) days following the consummation of the IPO, each
Individual Stockholder, together with his or her Sibling Affiliated Group, shall be entitled to make up to ten requests to the
Company for registration under and in accordance with the provisions of the Securities Act of all or part of their Registrable
Securities (any such registration, a “Demand Registration”); provided, however, that with respect to any Demand
Registration:

 

A.           the
anticipated aggregate offering amount of the Registrable Securities covered by any Demand Registration shall exceed $50,000,000
(net of underwriting discounts and commissions); and

 

B.           each
Sibling Affiliated Group shall be limited to one (1) such Demand Registration during each calendar year;

 

(ii)           Within
ten (10) days after receipt of any written request pursuant to this Section 13(a), the Company will give written notice
of such request to all other holders of Registrable Securities and will use its reasonable best efforts to include in such registration
all Registrable Securities (in accordance with the priorities set forth in Section 13(a)(iii) below) with respect to
which the Company has received written requests for inclusion specifying the number of equity securities desired to be registered
within ten (10) days after delivery of the Company’s notice, and, thereupon the Company will use its reasonable best
efforts to effect, at the earliest possible date, the registration under the Securities Act.

 

    16

     

    

 

(iii)          If
the managing underwriters with respect to a Demand Registration advise the Company in writing that, in their opinion, the inclusion
of the number of Registrable Securities and other securities requested to be included creates a substantial risk that the price
per share of securities proposed to be included in the offering will be reduced due to the inclusion of such securities in the
offering, the Company will include in such Demand Registration, prior to the inclusion of any securities which are not Registrable
Securities, the number of such Registrable Securities that in the opinion of such underwriters can be sold without creating such
a risk, pro rata among the respective holders of such Registrable Securities on the basis of the number of such Registrable Securities
requested by such holders to be included in the applicable Demand Registration.

 

(iv)          With
respect to any Demand Registration, if the Board determines in good faith that such filing (i) would be materially detrimental
to the Company, (ii) would require a disclosure of a material fact that might reasonably be expected to have a material adverse
effect on the Company or any plan or proposal by the Company or any of its Subsidiaries to engage in any acquisition or disposition
of assets or equity securities or any merger, consolidation, tender offer, material financing or other significant transaction,
(iii) is inadvisable because the Company is planning to prepare and file a registration statement for a primary offering by
the Company of its securities (which determination by the Board shall be certified in writing by an executive officer of the Company
to the holders of Registrable Securities who have requested a Demand Registration) or (iv) would require the Company to prepare
audited financial statements as of a date other than its fiscal year end, then the Company may postpone for up to one hundred twenty
(120) days the filing or the effectiveness of a registration statement for a Demand Registration; provided, that the Company may
not on any of the foregoing grounds postpone the filing or effectiveness of a registration statement for a Demand Registration
for more than one hundred twenty (120) days during any twelve (12) month period (unless the holders of a majority of the unsold
Registrable Securities included in such registration statement and not previously sold thereunder consent in writing to a longer
postponement of the filing or effectiveness of such registration statement).

 

(b)           Piggyback
Registrations.

 

(i)            At
any time at least one hundred eighty (180) days following the consummation of the IPO, whenever the Company proposes to
register any shares of Registrable Securities under the Securities Act for its own account or otherwise, including in
response to a Demand Registration made through the procedures of Section 13(a) hereof, and the registration form to
be used may be used for the registration of Registrable Securities (each, a “Piggyback Registration”)
(except for the registrations on Form S-8 or Form S-4 or any successor form thereto), the Company will give written
notice, at least ten (10) days prior to the proposed filing of such registration statement, to the Stockholders, of its
intention to effect such a registration and will use reasonable best efforts to include in such registration all Registrable
Securities (in accordance with the priorities set forth in Sections 13(b)(ii) and 13(b)(iii) below) with respect to
which the Company has received written requests from Stockholders for inclusion specifying the number of equity securities
desired to be registered, which request shall be delivered within ten (10) days after the delivery of the
Company’s notice. The Company may postpone or withdraw the filing or the effectiveness of a Piggyback Registration at
any time in its sole discretion.

 

    17

     

    

 

 

(ii)            If
a Piggyback Registration is an underwritten primary offering on behalf of the Company and the managing underwriters advise the
Company in writing that in their opinion the number of Registrable Securities requested to be included in the registration creates
a substantial risk that the price per share of the Registrable Securities proposed to be sold in the offering will be reduced due
to the inclusion of such securities in the offering, then the managing underwriter and the Company may exclude securities (including
Registrable Securities) from the registration and the underwriting, and the number of securities that may be included in such registration
and underwriting shall include: (a) first, any securities that the Company proposed to sell, and (b) second, any Registrable
Securities requested by Stockholders to be included in such registration pursuant to this Section 13, pro rata among the holders
of such Registrable Securities on the basis of the total number of Registrable Securities which are requested by such holders to
be included in such registration.

 

(iii)            In
connection with any Piggyback Registration, the Company will have such right to select the managing underwriter(s) in respect
of such offering in its sole discretion.

 

(c)            Shelf
Registrations.

 

(i)            Subject
to the terms of this Agreement, commencing on the date on which the Company becomes eligible to register securities issued by it
in the IPO on a registration statement on Form S-3 or similar short-form registration, the Company shall use its reasonable
best efforts to effect, as expeditiously as possible, the filing of a shelf registration statement on Form S-3 pursuant to
Rule 415 with respect to the Registrable Securities (including the prospectus, amendments and supplements to the shelf registration
statement or prospectus, including pre- and post-effective amendments, all exhibits thereto and all material incorporated by reference
or deemed incorporated by reference, if any, in such shelf registration statement, the “Shelf Registration Statement”).

 

(ii)            The
Company shall use its reasonable best efforts to cause the Shelf Registration Statement to be declared effective by the
Commission as soon as practicable after such filing, and shall use its reasonable best efforts to keep the Shelf Registration
Statement effective and updated, from the date such Shelf Registration Statement is declared effective until the first date
as of which all of the shares of Registrable Securities included in the Shelf Registration Statement have been sold.
If the Shelf Registration Statement has been outstanding at least three years, at the end of the third year, if any
securities registered under the previous Shelf Registration Statement remain unsold, the Company shall use its reasonable
best efforts to promptly refile a new shelf registration statement on Form S-3 pursuant to Rule 415 covering the
Registrable Securities.

 

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(d)            Registration
Procedures. Whenever the holders of Registrable Securities have requested that any Registrable Securities be registered pursuant
to this Section 13, the Company will use its reasonable best efforts to effect the registration of such Registrable Securities
in accordance with the intended method of disposition thereof and, pursuant thereto, the Company will as expeditiously as reasonably
possible:

 

(i)            prepare
and, as soon as practicable after the end of the period within which requests for registration may be given to the Company, file
with the Commission a registration statement with respect to such Registrable Securities and use its reasonable best efforts to
cause such registration statement to become effective (provided that before filing a registration statement or prospectus, or any
amendments or supplements thereto, the Company will furnish copies of all such documents proposed to be filed to one counsel designated
by holders of a majority of the Registrable Securities covered by such registration statement and to the extent practicable under
the circumstances, provide such counsel an opportunity to comment on any information pertaining to the holders of Registrable Securities
covered by such registration statement contained therein; and the Company shall consider in good faith any corrections reasonably
requested by such counsel with respect to such information);

 

(ii)            prepare
and file with the Commission such amendments and supplements to such registration statement and the prospectus(es) used in connection
therewith as may be necessary to keep such registration statement effective for a period of not less than the earlier of (i) 180
days and (ii) the date that all of the securities covered by the registration statement have been sold, and comply with the
provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement during
such period in accordance with the intended methods of disposition by the sellers thereof set forth in such registration statement;

 

(iii)            in
connection with any filing of any registration statement or prospectus or amendment or supplement thereto, cause such document
(i) to comply in all material respects with the requirements of the Securities Act and the rules and regulations of the
Commission thereunder and (ii) to not contain any untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein not misleading;

 

(iv)            furnish
to each seller of Registrable Securities, without charge, such number of copies of such registration statement, each amendment
and supplement thereto, the prospectus(es) included in such registration statement (including each preliminary prospectus) and
such other documents as such seller may reasonably request in order to facilitate the disposition of the Registrable Securities
owned by such seller;

 

(v)            use
its commercially reasonable efforts to register or qualify such Registrable Securities under such securities or blue sky laws of
such jurisdictions as the Stockholders reasonably request, keep each such registration or qualification effective during the period
the associated registration statement is required to be kept effective, and do any and all other acts and things which may be reasonably
necessary or advisable to enable such seller to consummate the disposition in such jurisdictions of the Registrable Securities
owned by such seller (provided that the Company will not be required to qualify generally to do business, consent to general service
of process, or subject itself or any of its Affiliates to taxation, in any jurisdiction where it would not otherwise be required
to do so but for this subparagraph);

 

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(vi)            promptly
notify each seller of such Registrable Securities and, if requested by such seller, confirm in writing, when a registration statement
has become effective and when any post-effective amendments and supplements thereto become effective;

 

(vii)            promptly
notify each seller of such Registrable Securities, at any time when a prospectus relating thereto is required to be delivered under
the Securities Act, of the happening of any event as a result of which the prospectus included in such registration statement contains
an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, and, at the request
of any such seller, the Company will prepare a supplement or amendment to such prospectus so that, as thereafter delivered to the
purchasers of such Registrable Securities, such prospectus will not contain any untrue statement of a material fact or omit to
state any fact necessary to make the statements therein not misleading;

 

(viii)            use
commercially reasonable efforts to cause all such Registrable Securities to be listed on each securities exchange on which similar
securities issued by the Company are then listed, or if no such securities are then listed, on a National Securities Exchange selected
by the Company;

 

(ix)            provide
a transfer agent, registrar and CUSIP number for all such Registrable Securities not later than the effective date of such registration
statement;

 

(x)            enter
into such customary agreements (including underwriting agreements in customary form) and take all such other customary
actions as the holders of a majority of the Registrable Securities being sold or the underwriters, if any, reasonably
request in order to expedite or facilitate the disposition of such Registrable Securities;

 

(xi)            use
commercially reasonable efforts to cooperate with each seller and the underwriter or managing underwriter, if any, to facilitate
the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive
legends; and enable such Registrable Securities to be in such denominations (consistent with the provisions of the governing documents
thereof) and registered in such names as each seller or the underwriter or managing underwriter, if any, may reasonably request
at least three Business Days prior to any sale of Registrable Securities;

 

    20

     

    

 

(xii)            subject
to confidentiality agreements in form and substance acceptable to the Company, make available for inspection, at such place and
in such manner as determined by the Company in its sole discretion, by any seller of Registrable Securities, any underwriter participating
in any disposition pursuant to such registration statement, and any attorney, accountant or other agent retained by any such seller
or underwriter, financial and other records, pertinent corporate documents and properties of the Company reasonably requested by
any such seller, underwriter, attorney, accountant or agent in connection with such registration statement, and cause the Company’s
officers, directors, employees and independent accountants to supply all information reasonably requested by any such seller, underwriter,
attorney, accountant or agent in connection with such registration statement; provided, however, that any records, information
or documents that are furnished by the Company and that are non-public shall be used only in connection with such registration;

 

(xiii)            advise
each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance
of any stop order by the Commission suspending the effectiveness of such registration statement or the initiation or threatening
of any proceeding for such purpose and promptly use its reasonable best efforts to prevent the issuance of any stop order or to
obtain its withdrawal if such stop order should be issued;

 

(xiv)            make
available to its security holders, as soon as reasonably practicable, an earnings statement (which need not be audited) covering
at least twelve (12) months which shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158
thereunder;

 

(xv)            cooperate
and assist in any filing required to be made with the Financial Industry Regulatory Authority (FINRA);

 

(xvi)            at
the request of any seller of such Registrable Securities in connection with an underwritten offering, furnish on the date or
dates provided for in the underwriting agreement a letter or letters from the independent certified public accountants of the
Company addressed to the underwriters and the sellers of Registrable Securities, covering such matters as such
accountants, underwriters and sellers may reasonably agree upon, in which letter(s) such accountants shall state,
without limiting the generality of the foregoing, that they are an independent registered public accounting firm within the
meaning of the Securities Act and that in their opinion the financial statements and other financial data of the Company
included in the registration statement, the prospectus(es), or any amendment or supplement thereto, comply in all material
respects with the applicable accounting requirements of the Securities Act; and

 

(xvii)            with
respect to any Demand Registration, make senior executives of the Company reasonably available to assist the underwriters with
respect to, and participate in, the so-called “road show” in connection with the marketing efforts for, and the distribution
and sale of Registrable Securities pursuant to a registration statement.

 

    21

     

    

 

(e)            Registration
Expenses.

 

(i)            The
Company will pay all expenses incident to the Company’s performance of or compliance with this Section 13, including,
but not limited to: all registration and filing fees; fees and expenses of compliance with securities or blue sky laws; printing
expenses; messenger and delivery expenses; and fees and disbursements of counsel for the Company; reasonable fees and disbursements
of one counsel chosen by the holders of a majority of the Registrable Securities to be included in such registration to represent
all holders of Registrable Securities to be included in the registration; fees and disbursements of the Company’s registered
public accounting firm; and reasonable fees and disbursements of all other Persons retained by the Company (all such expenses being
herein called “Registration Expenses”); provided, however, that, as between the Company and holders of Registrable
Securities, all underwriting discounts and commissions and transfer taxes relating to the Registrable Securities will be borne
pro rata by the holders of such Registrable Securities sold in any offering hereunder. In addition, the Company will pay its internal
expenses (including, but not limited to, all salaries and expenses of its officers and employees performing legal or accounting
duties), the expense of any annual audit or quarterly review, the expense of any liability insurance obtained by the Company and
the expenses and fees for listing the securities to be registered on each securities exchange; provided, however, that if a Demand
Registration is subsequently withdrawn at the request of a majority of the Stockholders initiating such request, the holders of
Registrable Securities subject to such withdrawn registration shall forfeit such registration unless the holders of Registrable
Securities to be registered pay (or reimburse the Company) for all of the Registration Expenses with respect to such withdrawn
registration.

 

(ii)            To
the extent that any expenses incident to any registration are not required to be paid by the Company, each holder of
Registrable Securities included in a registration will pay all such expenses which are clearly and solely attributable to
the registration of such holder’s Registrable Securities so included in such registration, and any other expenses not
so attributable to one holder will be borne and paid by all sellers of securities included in such registration in proportion
to the number of securities so included by each such seller.

 

(f)            Indemnification.

 

(i)            The
Company agrees to indemnify, to the extent permitted by law, each holder of Registrable Securities and, as applicable, each of
its trustees, stockholders, members, directors, managers, partners, officers and employees, and each Person who controls such holder
(within the meaning of the Securities Act), against all losses, claims, damages, liabilities and expenses (including, but not limited
to, attorneys’ fees and expenses) caused by any untrue or alleged untrue statement of material fact contained in any registration
statement, prospectus or preliminary prospectus, or any amendment thereof or supplement thereto (including, in each case, all documents
incorporated therein by reference), or any omission or alleged omission of a material fact required to be stated therein or necessary
to make the statements therein not misleading, except insofar as the same are caused by or contained in any information furnished
in writing to the Company by such holder expressly for use therein or by such holder’s failure to deliver a copy of the prospectus
or any amendments or supplements thereto after the Company has furnished such holder with a sufficient number of copies of the
same. In connection with an underwritten offering, the Company will indemnify such underwriters, their officers and directors and
each Person who controls such underwriters (within the meaning of the Securities Act) to the same extent as provided above with
respect to the indemnification of the holders of Registrable Securities. The payments required by this Section 13(f)(i) will
be made periodically during the course of the investigation or defense, as and when bills are received or expenses incurred.

 

    22

     

    

 

(ii)            In
connection with any registration statement in which a holder of Registrable Securities is participating, each such holder
will furnish to the Company in writing such information relating to such holder as is reasonably necessary for use in
connection with any such registration statement or prospectus and, to the extent permitted by law, will indemnify the Company
and, as applicable, each of its directors, employees and officers and each Person who controls the Company (within the
meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses resulting from any untrue or
alleged untrue statement of material fact contained in the registration statement, prospectus or preliminary prospectus, or
any amendment thereof or supplement thereto (including, in each case, all documents incorporated therein by reference), or
any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein
not misleading, but only to the extent that such untrue statement or omission is contained in or omitted from any information
furnished in writing by such holder for the acknowledged purpose of inclusion in such registration statement, prospectus or
preliminary prospectus; provided, however, that the obligation to indemnify will be several, not joint and several,
among such holders of Registrable Securities and the liability of each such holder of Registrable Securities will be in
proportion to and limited to the net amount received by such holder from the sale of Registrable Securities pursuant to such
registration statement, unless such loss, claim, damage, liability or expense resulted from such holder’s intentionally
fraudulent conduct.

 

(iii)            Each
party entitled to indemnification under this Section 13(f) (the “Indemnified Party”) shall give written
notice to the party required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified
Party has received written notice of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to
assume the defense of any such claim or any litigation resulting therefrom, provided that the counsel for the Indemnifying Party
who is to conduct the defense of such claim or litigation is reasonably satisfactory to the Indemnified Party (whose approval shall
not be unreasonably withheld or delayed). The Indemnified Party may participate in such defense at such Indemnified Party’s
expense; provided, however, that the Indemnifying Party shall bear the expense of such defense of the Indemnified Party if (i) the
Indemnifying Party has agreed in writing to pay such expenses, (ii) the Indemnifying Party shall have failed to assume the
defense of such claim or to employ counsel reasonably satisfactory to the Indemnified Party, or (iii) in the reasonable judgment
of the Indemnified Party, based upon the written advice of such Indemnified Party’s counsel, representation of both parties
by the same counsel would be inappropriate due to actual or potential conflicts of interest; provided, however, that in no event
shall the Indemnifying Party be liable for the fees and expenses of more than one counsel (excluding one local counsel per jurisdiction
as necessary) for all Indemnified Parties in connection with any one action or separate but similar or related actions in the same
jurisdiction arising out of the same event, allegations or circumstances. The Indemnified Party shall not make any settlement without
the prior written consent of the Indemnifying Party, which consent shall not be unreasonably withheld or delayed. The failure of
any Indemnified Party to give notice as provided herein shall relieve the Indemnifying Party of its obligations under this Section 13(f) only
to the extent that such failure to give notice shall materially prejudice the Indemnifying Party in the defense of any such claim
or any such litigation. No Indemnifying Party, in the defense of any such claim or litigation, shall, except with the prior written
consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement (a) that does not include
as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability
in respect to such claim or litigation in form and substance reasonably satisfactory to such Indemnified Party or (b) that
includes an admission of fault, culpability or a failure to act, by or on behalf of any Indemnified Party.

 

    23

     

    

 

(iv)            The
indemnification (and contribution provisions in Section 13(g) below) provided for under this Agreement will remain
in full force and effect regardless of any investigation made by or on behalf of the Indemnified Party or any officer,
director or controlling Person of such Indemnified Party and will survive the transfer of securities.

 

(g)            Contribution.

 

(i)            If
the indemnification provided for in Section 13(f) from the Indemnifying Party is unavailable to or unenforceable by the
Indemnified Party in respect to any costs, fines, penalties, losses, claims, damages, liabilities or expenses referred to herein,
then the Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by
such Indemnified Party as a result of such costs, fines, penalties, losses, claims, damages, liabilities or expenses in such proportion
as is appropriate to reflect the relative fault of the Indemnifying Party and Indemnified Parties in connection with the actions
which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations.
The relative fault of such Indemnifying Party and Indemnified Parties shall be determined by reference to, among other things,
whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission
to state a material fact, has been made by, or relates to information supplied by, such Indemnifying Party or Indemnified Parties,
and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such action. The
amount paid or payable by a party as a result of the costs, fines, penalties, losses, claims, damages, liabilities and expenses
referred to above shall be deemed to include, subject to the limitations set forth in Section 13(f), any legal or other fees
or expenses reasonably incurred by such party in connection with any investigation or proceeding. Notwithstanding this Section 13(g),
an indemnifying holder who is a Sibling Affiliated Stockholder shall not be required to contribute any amount in excess of the
amount by which (a) the total price at which the Registrable Securities sold by such holder exceeds (b) the amount of
any damages which such indemnifying holder has otherwise been required to pay by reason of the untrue or alleged untrue statement
or omission or alleged omission giving rise to such payments, unless such loss, claim, damage, liability or expense in respect
of which contribution is required resulted from such holder’s intentionally fraudulent conduct.

 

(ii)            The
Company and the holders of Registrable Securities agree that it would not be just and equitable if contribution pursuant to this
Section 13(g) were determined by pro rata allocation or by any other method of allocation which does not take into account
the equitable considerations referred to in the immediately preceding paragraph. No Person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was
not guilty of such fraudulent misrepresentation.

 

(h)            At
the request of any holder of Registrable Securities who proposes to sell securities in compliance with Rule 144, the
Company will (i) forthwith furnish to such holder a written statement of compliance with the filing requirements
of the Commission as set forth in Rule 144, and (ii) make available to the public and such holders such
information, and take such action as is reasonably necessary, to enable the holders of Registrable Securities to make sales
pursuant to Rule 144.

 

(i)            No
Person may participate in any registration pursuant to this Section 13 which is underwritten unless such Person (i) agrees
to sell its securities on the basis provided in any underwriting arrangements approved by such Person or Persons entitled hereunder
to approve such arrangements and (ii) completes and executes all questionnaires, powers of attorney, custody agreements, indemnities,
underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements.

 

    24

     

    

 

(j)            Notwithstanding
any provision of this Agreement to the contrary (including, without limitation, Sections 9 and 12 and this Section 13), nothing
in this Agreement shall be interpreted to preclude or otherwise restrict any Stockholder from:

 

(i)            Purchasing
shares of Class A Stock in the open market or otherwise;

 

(ii)            Purchasing
or selling shares of Common Stock pursuant to the Share Purchase Agreement; or

 

(iii)            Selling
shares of Class A Stock in connection with (A) the exercise of any over-allotment option granted to the underwriters
in the IPO or (B) any follow-on offering of Class A Stock. In connection with the exercise of any over-allotment option
granted to the underwriters in the IPO to purchase additional shares of Class A Stock (such shares, the “Over-Allotment
Shares”), each Stockholder shall have the right, but not the obligation, to elect to transfer to the underwriters shares
of such Stockholder’s Class B Stock in an amount equal to or less than such Stockholder’s Proportionate Share
of the Over-Allotment Shares; provided, however, if a Stockholder elects not to transfer shares to the underwriters, the option
to transfer a number of shares equal to such Stockholder’s Proportionate Share of the Over-Allotment Shares shall be offered
to the electing Stockholders.

 

14.            Severability.
All provisions of this Agreement are distinct and severable and if any clause shall be held to be invalid, illegal or against
public policy, the validity or the legality of the remainder of this Agreement shall not be affected thereby.

 

15.            Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without regard
to conflicts of laws principles.

 

16.            Jurisdiction.
The parties hereto agree that any suit, action or proceeding seeking to enforce any provision of, or based on any matter
arising out of or in connection with, this Agreement or the transactions contemplated hereby (whether brought by any party or
any of its Affiliates or against any party or any of its Affiliates) shall be brought in the Delaware Chancery Court
(or in the event, but only in the event, that such court does not have subject matter jurisdiction over such action or
proceeding, the Superior Court of the State of Delaware (Complex Commercial Division) or, if subject matter jurisdiction over
the action or proceeding is vested exclusively in the federal courts of the United States of America, the United States
District Court for the District of Delaware) and each of the parties hereby irrevocably consents to the jurisdiction of such
courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to
the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such
suit, action or proceeding in any such court or that any such suit, action or proceeding brought in any such court has been
brought in an inconvenient forum. Process in any such suit, action or proceeding may be served on any party anywhere in the
world, whether within or without the jurisdiction of any such court.

 

    25

     

    

 

17.            Waiver
of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATED TO THIS AGREEMENT OR TRANSACTIONS CONTEMPLATED HEREBY.

 

18.            Notices.
All notices, offers, acceptances, refusals, payments, agreements, requests or other communications given or required to be given
hereunder shall be made in writing and shall be deemed duly given and effective, if (a) delivered in person or sent by electronic
mail or facsimile, on the date received, and, (b) mailed, on the second Business Day after mailing by certified mail, postage
prepaid, return receipt requested, to a Stockholder at such Stockholder’s last known address as it appears on the books
and records of the Company, or to the Company at its then principal place of business.

 

19.            Binding
Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto, their respective heirs,
successors and assigns. This Agreement cannot be assigned without the written consent of all of the parties hereto.

 

20.            Entire
Agreement; Modification. This Agreement expresses the entire and final understandings of the parties hereto and supersedes
all prior agreements with reference to the subject matter hereof, including, without limitation, the Prior Agreement. Each of
the parties hereto hereby irrevocably waives any and all claims and rights under all prior agreements with reference to the subject
matter hereof, including, without limitation, any and all claims and rights under the Prior Agreement relating to transactions
contemplated under this Agreement, including those pursuant to the Share Purchase Agreement. This Agreement may neither be altered
nor modified except by a writing duly signed by the Company and a majority of the Stockholders.

 

21.            Miscellaneous.
Each party to this Agreement agrees to perform any and all further acts, and to execute and deliver any and all documents and
instruments that may be reasonably necessary and appropriate to carry out the terms and conditions and to further the intent of
this Agreement. As required by the context, the singular shall be construed to include the plural and vice versa, and the use
of any gender shall be construed to include all genders. This Agreement may be executed in one or more counterparts, each of which
shall be deemed an original but all of which together will constitute one and the same instrument, and may be delivered by facsimile
or emailed document scan.

 

22.            Termination.
This Agreement shall terminate and be of no further force and effect on the later to occur of (i) the first date when the
Stockholders, taken together, hold less than two percent (2%) of all issued and outstanding shares of Common Stock and (ii) the
first date when no party to this Agreement continues to hold any Registrable Securities.

 

[Signature page follows]

 

    26

     

    

 

Exhibit 4.2

 

IN WITNESS WHEREOF,
the Stockholders have executed this Agreement, and the Company has caused this Agreement to be executed by a duly authorized officer
of the Company as of the date first above written.

 

	 	VERTEX, INC.
	 	 
	 	By:	/s/
    David DeStefano
	 	Name:
    David DeStefano
	 	Title: President, Chief Executive Officer and Chairperson
	 	 
	 	/s/
    Jeffrey R. Westphal
	 	Jeffrey
    R. Westphal
	 	 
	 	/s/
    Stefanie W. Thompson
	 	Stefanie W. Thompson
	 	 
	 	/s/
    Amanda W. Radcliffe
	 	Amanda
    W. Radcliffe
	 	 
	 	/s/
    Conrad J.J. Radcliffe
	 	Conrad J. J. Radcliffe
	 	 
	 	/s/
    Christopher J. Thompson
	 	Christopher
    J. Thompson
	 	 
	 	/s/
    Benjamin Schmerin
	 	Benjamin Schmerin

 

    27

     

    

 

	 	ITEM SECOND IRREVOCABLE TRUST
    FBO KAILEY RADCLIFFE u/a of AMANDA W RADCLIFFE dated 10/05/2001
	 	 
	 	By: 	/s/
    Conrad J.J. Radcliffe
	 	Name: Conrad J. J. Radcliffe
	 	Title: Trustee
	 	 
	 	By: 	/s/ Kailey
    A. Radcliffe
	 	Name: Kailey A. Radcliffe
	 	Title: Trustee
	 	 
	 	ITEM SECOND IRREVOCABLE TRUST
    FBO ANTOINETTE R. RADCLIFFE u/a of AMANDA W RADCLIFFE dated 10/05/2001
	 	 
	 	By:	/s/ Conrad
    J.J. Radcliffe
	 	Name: Conrad J. J. Radcliffe
	 	Title: Trustee
	 	 
	 	By:	/s/ Antoinette
    R. Radcliffe
	 	Name: Antoinette R. Radcliffe
	 	Title: Trustee
	 	 
	 	THIRD
    PARTY FUNDED SPECIAL NEEDS TRUST FOR CALLUM W. RADCLIFFE u/a of AMANDA W RADCLIFFE dated May 15, 2015
	 	 
	 	By:	/s/ Conrad
    J.J. Radcliffe
	 	Name: Conrad J. J. Radcliffe
	 	Title: Trustee
	 	 
	 	By: 	/s/ Anoinette
    R. Radcliffe
	 	Name: Antoinette R. Radcliffe
	 	Title: Trustee
	 	 
	 	By: 	/s/ Kailey
    A. Radcliffe
	 	Name: Kailey A. Radcliffe
	 	Title: Trustee

 

    28

     

    

 

 

	 	ITEM
                                         SECOND IRR. TRUST FBO ANNE
 MARIE WESTPHAL u/a of JEFFREY R.

                                                                          WESTPHAL
                                         dated October 5, 2001

	 	
	 	By:
    	/s/
    Anne Marie Westphal
	 	Name:
    	Anne
    Marie Westphal
	 	Title:	Trustee
	 	 
	 	By:
    	/s/
    Joshua R. Levine
	 	Name:
    	Joshua
    R. Levine
	 	Title:
    	Trustee
	 	 
	 	By:	/s/
    Steve Treat
	 	Name:	Steve
    Treat
	 	Title:	Trustee
	 	 
	 	ITEM
    SECOND IRR. TRUST FBO KYLE R. WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 2001
	 	 
	 	By:
    	/s/
    Kyle R. Westphal
	 	Name:
    	Kyle
    R. Westphal
	 	Title:
    	Trustee
	 	 
	 	By:
    	/s/
    Joshua R. Levine
	 	Name:
    	Joshua
    R. Levine
	 	Title:
    	Trustee
	 	 
	 	By:
    	/s/
    Steve Treat
	 	Name:
    	Steve
    Treat
	 	Title:	Trustee

 

    29

     

    

 

	 	ITEM SECOND IRR. TRUST
    FBO JACOB J. WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 2001
	 	 
	 	By:	/s/
    Jacob J. Westphal
	 	Name:	Jacob J. Westphal
	 	Title:	Trustee
	 	 
	 	By:	/s/ Joshua
    R. Levine
	 	Name:	Joshua R. Levine
	 	Title:	Trustee
	 	 
	 	By:	/s/ Steve
    Treat
	 	Name: 	Steve Treat
	 	Title:	Trustee
	 	 
	 	ITEM SECOND IRR. TRUST
    FBO MELANIE H. LUCAS u/a of STEFANIE W. LUCAS dated October 5, 2001
	 	 
	 	By:	/s/ Melanie
    H. Lucas
	 	Name:	Melanie H. Lucas
	 	Title:	Trustee
	 	 
	 	ITEM SECOND IRR. TRUST
    FBO SAMANTHA W. LUCAS u/a of STEFANIE W. LUCAS dated October 5, 2001
	 	 
	 	By:	/s/ Samantha
    W. Lucas
	 	Name:	Samantha W. Lucas
	 	Title:	Trustee
	 	 
	 	ITEM SECOND IRR. TRUST
    FBO MACKENZIE S. LUCAS u/a of STEFANIE W. LUCAS dated October 5, 2001
	 	 
	 	By:	/s/ Mackenzie
    S. Lucas
	 	Name:	Mackenzie S. Lucas
	 	Title:	Trustee

 

    30

     

    

 

	 	ITEM SECOND IRR. TRUST
    FBO ANDREA P. LUCAS u/a of STEFANIE W. LUCAS dated October 5, 2001
	 	
	 	By:	/s/
    Andrea Schmerin
	 	Name:	Andrea P. Schmerin (f/k/a Andrea P. Lucas)
	 	Title:	Trustee
	 	 
	 	The 2009 Jeffrey R. Westphal
    Generation Skipping Trust
	 	 
	 	By:	/s/
    Jeffrey R. Westphal
	 	Name:	Jeffrey R. Westphal
	 	Title:	Trustee
	 	 
	 	The 2009 Stefanie Lucas
    Generation Skipping Trust
	 	 
	 	By:	/s/
    Stefanie W. Thompson
	 	Name:	Stefanie W. Thompson (f/k/a Stefanie W.
    Lucas)
	 	Title:	Trustee
	 	 
	 	The 2009 Amanda W. Radcliffe
    Generation Skipping Trust
	 	 
	 	By:	/s/
    Amanda W. Radcliffe
	 	Name:	Amanda W. Radcliffe
	 	Title:	Trustee

 

    31

     

    

 

	 	The Irrevocable Deed of
    Trust of Antoinette M. Westphal, dated March 31, 1987, Stefanie W. Thompson and Sterling Trustees LLC, Trustees
	 	
	 	By: 	/s/
    Stefanie W. Thompson
	 	Name: 	Stefanie W. Thompson
	 	Title: 	Trustee
	 	 
	 	By: 	Sterling
    Trustees LLC
	 	Title: 	Trustee
	 	 
	 	 	By:	/s/
    Anthony Joffe
	 	 	Name:	Anthony Joffe
	 	 	Title:	President
	 	 
	 	Irrevocable Trust of Rainer
    J. Westphal, Settlor, dated July 19, 2007 – Separate Trust for Benefit of Stefanie W. Lucas
	 	 
	 	By: 	/s/
    Stefanie W. Thompson
	 	Name:	 Stefanie W. Thompson (f/k/a Stefanie W. Lucas)
	 	Title: 	Trustee
	 	 
	 	Irrevocable Trust of Rainer
    J. Westphal, Settlor, dated July 19, 2007 – Separate Trust for Benefit of Amanda W. Radcliffe
	 	 
	 	By: 	/s/
    Amanda W. Radcliffe
	 	Name:	 Amanda W. Radcliffe
	 	Title: 	Trustee
	 	 
	 	Irrevocable Trust of Rainer
    J. Westphal, Settlor, dated July 19, 2007 – Separate Trust for Benefit of Jeffrey Westphal
	 	 
	 	By: 	/s/
    Jeffrey R. Westphal
	 	Name: 	Jeffrey R. Westphal
	 	Title: 	Trustee

 

    32

     

    

 

 

	 	2020 IRREVOCABLE TRUST
    FOR BENEFIT OF CONSTANCE A. THOMPSON
	 	  
	 	By: 	/s/
    Constance A. Thompson
	 	Name: 	Constance A. Thompson
	 	Title: 	Trustee
	 	 
	 	By: 	/s/ Christopher
    J. Thompson
	 	Name: 	Christopher J. Thompson
	 	Title: 	Trustee
	 	 
	 	2020 IRREVOCABLE TRUST
    FOR BENEFIT OF NICHOLAS A. SHUHAN
	 	 
	 	By:	/s/ Nicholas
    A. Shuhan
	 	Name: 	Nicholas A. Shuhan
	 	Title: 	Trustee
	 	 
	 	By:	/s/ Joshua
    R. Levine
	 	Name: 	Joshua R. Levine
	 	Title: 	Trustee
	 	 
	 	By:	/s/ Stephen
    R. Treat
	 	Name: 	Stephen R. Treat
	 	Title: 	Trustee

 

    33

     

    

 

SCHEDULE 1

 

Exhibit 4.2

Index of Defined Terms

 

	Term	 	 	Section	 
	2001 Trust	 	 	Section 1	 
	2001 Trust Election Period	 	 	Section 7(c)	 
	2001 Trust Election Right	 	 	Section 7(c)	 
	2001 Trust Notice	 	 	Section 7(d)	 
	2001 Trust Notice of Election	 	 	Section 7(c)	 
	2001 Trusts	 	 	Section 1	 
	2009 Trust	 	 	Section 1	 
	2009 Trust Election Period	 	 	Section 7(b)	 
	2009 Trust Election Right	 	 	Section 7(b)	 
	2009 Trust Notice	 	 	Section 7(c)	 
	2009 Trust Notice of Election	 	 	Section 7(b)	 
	2009 Trusts	 	 	Section 1	 
	Affiliate	 	 	Section 1	 
	Agreement	 	 	Preamble	 
	Applicable Market Value	 	 	Section 1	 
	Applicable Proxy	 	 	Section 11(d)	 
	AWR	 	 	Section 1	 
	AWR 2001 Trusts	 	 	Section 1	 
	AWR 2009 Trust	 	 	Section 1	 
	Board	 	 	Section 1	 
	Business Day	 	 	Section 1	 
	Class A Stock	 	 	Section 1	 
	Class B Stock	 	 	Section 1	 
	Closing Price	 	 	Section 1	 
	Commission	 	 	Section 1	 
	Common Stock	 	 	Section 1	 
	Company	 	 	Preamble	 
	Company Election Period	 	 	Section 6(d)	 
	Company Election Right	 	 	Section 6(d)	 
	Company Notice	 	 	Section 6(d)	 
	Decedent	 	 	Section 7(a)	 
	Demand Registration	 	 	Section 13(a)(i)	 
	Descendant	 	 	Section 1	 
	Eligible Remaining Stockholders	 	 	Section 6(b)	 
	Exchange Act	 	 	Section 3(b)	 
	Fair Market Value	 	 	Section 1	 

 

    34

     

    

 

	Term	 	 	Section	 
	Governmental Authority	 	 	Section 1	 
	Indemnified Party	 	 	Section 13(f)(iii)	 
	Indemnifying Party	 	 	Section 13(f)(iii)	 
	Individual Stockholder	 	 	Section 1	 
	Individual Stockholders	 	 	Section 1	 
	Initial Election Period	 	 	Section 6(b)	 
	Initial Election Right	 	 	Section 6(b)	 
	Initial Notice	 	 	Section 6(b)	 
	Initial Notice of Election	 	 	Section 6(b)	 
	IPO	 	 	Section 1	 
	Joinder Agreement	 	 	Section 3(c)	 
	JRW	 	 	Section 1	 
	JRW 2001 Trusts	 	 	Section 1	 
	JRW 2009 Trust	 	 	Section 1	 
	National Securities Exchange	 	 	Section 1	 
	New Securities	 	 	Section 9(a)	 
	New Securities Initial Election Period	 	 	Section 9(a)	 
	New Securities Initial Election Right	 	 	Section 9(a)	 
	New Securities Initial Notice	 	 	Section 9(a)	 
	New Securities Issuance Period	 	 	Section 9(d)	 
	New Securities Secondary Election Period	 	 	Section 9(b)	 
	New Securities Secondary Election Right	 	 	Section 9(b)	 
	New Securities Secondary Notice	 	 	Section 9(b)	 
	New Securities Secondary Notice of Election	 	 	Section 9(b)	 
	Nominee	 	 	Section 10(a)	 
	Offer	 	 	Section 6(e)	 
	Offered Stock	 	 	Section 6(a)	 
	Offeree	 	 	Section 6(a)	 
	Over-Allotment Shares	 	 	Section 13(j)(iii)	 
	Pennsylvania Company	 	 	Recital	 
	Person	 	 	Section 1	 
	Piggyback Registration	 	 	Section 13(b)(i)	 
	Pledge	 	 	Section 4	 
	Pledge Agreement	 	 	Section 4(d)	 
	Pledged Interest	 	 	Section 4	 
	Pledgee	 	 	Section 4	 
	Pledging Stockholder	 	 	Section 4	 
	Prior Agreement	 	 	Recital	 
	Proportionate Share	 	 	Section 1	 
	Qualified Extended Family Member	 	 	Section 1	 
	Qualified Family Member	 	 	Section 1	 
	Qualified Foundation	 	 	Section 1	 
	Qualified Person	 	 	Section 1	 
	Qualified Sibling Family Member	 	 	Section 1	 
	Qualified Trust	 	 	Section 1	 

 

    35

     

    

 

	Term	 	 	Section	 
	Registrable Securities	 	 	Section 1	 
	Registration Expenses	 	 	Section 13(e)(i)	 
	Relevant Date	 	 	Section 1	 
	Remaining Offered Stock	 	 	Section 6(b)	 
	Remaining Stockholders	 	 	Section 1	 
	Secondary Election Period	 	 	Section 6(c)	 
	Secondary Election Right	 	 	Section 6(c)	 
	Secondary Notice	 	 	Section 6(c)	 
	Secondary Notice of Election	 	 	Section 6(c)	 
	Securities Act	 	 	Section 1	 
	Share Purchase Agreement	 	 	Section 3(d)	 
	Shelf Registration Statement	 	 	Section 13(c)(i)	 
	Sibling	 	 	Section 1	 
	Sibling Affiliated Group	 	 	Section 1	 
	Sibling Affiliated Stockholders	 	 	Section 1	 
	Sibling Election Period	 	 	Section 6(a)	 
	Sibling Election Right	 	 	Section 6(a)	 
	Sibling Notice	 	 	Section 6(a)	 
	Siblings	 	 	Section 1	 
	Stockholder	 	 	Preamble	 
	Stockholders	 	 	Preamble	 
	Subsidiary	 	 	Section 1	 
	SWT	 	 	Section 1	 
	SWT 2001 Trusts	 	 	Section 1	 
	SWT 2009 Trust	 	 	Section 1	 
	Termination Date	 	 	Section 6(b)	 
	Third Party	 	 	Section 6(a)	 
	Trading Day	 	 	Section 1	 
	Transfer	 	 	Section 1	 
	Triggering Event	 	 	Section 7(a)	 
	Voting Obligations	 	 	Section 11(d)	 
	Will	 	 	Section 1	 

 

    36

     

    

 

SCHEDULE 2

 

Stockholders

Jeffrey R. Westphal

 

Stefanie W. Thompson (formerly known as
Stefanie W. Lucas)

 

Amanda W. Radcliffe

 

Christopher J. Thompson

 

Conrad J. J. Radcliffe

 

Benjamin Schmerin

 

Item Second Irrevocable Trust fbo Kailey A. Radcliffe u/a
of Amanda W. Radcliffe, dated October 5, 2001

Trustees: Conrad J. J. Radcliffe and Kailey A. Radcliffe

 

Item Second Irrevocable Trust fbo Antoinette R. Radcliffe
u/a of Amanda W. Radcliffe, dated October 5, 2001

Trustees: Conrad J. J. Radcliffe and Antoinette R. Radcliffe

 

Third Party Funded Special Needs Trust for Callum W. Radcliffe
u/a Of Amanda W. Radcliffe, dated May 15, 2015

Trustees: Conrad J. J. Radcliffe

 

Item Second Irr. Trust fbo Anne Marie Westphal u/a of Jeffrey
R. Westphal, dated October 5, 2001

Trustees: Anne Marie Westphal, Joshua R. Levine and Steve
Treat

 

Item Second Irr. Trust fbo Kyle R. Westphal u/a of Jeffrey
R. Westphal, dated October 5, 2001

Trustees: Kyle R. Westphal, Joshua R. Levine and Steve
Treat

 

Item Second Irr. Trust fbo Jacob J. Westphal u/a of Jeffrey
R. Westphal, dated October 5, 2001

Trustees: Jacob J. Westphal, Joshua R. Levine and Steve
Treat

 

    37

     

    

 

Item Second Irr. Trust fbo Melanie H. Lucas u/a of Stefanie
W. Lucas, dated October 5, 2001

Trustee: Melanie H. Lucas

 

Item Second Irr. Trust fbo Samantha W. Lucas u/a of Stefanie
W. Lucas, dated October 5, 2001

Trustee: Samantha W. Lucas

 

Item Second Irr. Trust fbo Mackenzie S. Lucas u/a of Stefanie
W. Lucas, dated October 5, 2001

Trustee: Mackenzie S. Lucas

 

Item Second Irr. Trust fbo Andrea P. Lucas u/a of Stefanie
W. Lucas, dated October 5, 2001

Trustee: Andrea P. Schmerin (f/k/a Andrea P. Lucas)

 

The 2009 Jeffrey R. Westphal Generation-Skipping
Trust

Trustee: Jeffrey R. Westphal

 

The 2009 Stefanie W. Lucas Generation-Skipping
Trust

Trustee: Stefanie W. Thompson (f/k/a
Stefanie W. Lucas)

 

The 2009 Amanda W. Radcliffe Generation-Skipping
Trust

Trustee: Amanda R. Radcliffe

 

The Irrevocable Deed of Trust of Antoinette
M. Westphal, dated March 31, 1987

Trustees: Stefanie W. Thompson and
Sterling Trustees LLC

 

Irrevocable Trust of Rainer J. Westphal, Settlor, dated July 19,
2007 – Separate Trust for Benefit of Stefanie W. Lucas

Trustee: Stefanie W. Thompson (f/k/a Stefanie W. Lucas)

 

Irrevocable Trust of Rainer J. Westphal, Settlor, dated July 19,
2007 – Separate Trust for Benefit of Amanda W. Radcliffe

Trustee: Amanda R. Radcliffe

 

Irrevocable Trust of Rainer J. Westphal, Settlor, dated July 19,
2007 – Separate Trust for Benefit of Jeffrey Westphal

Trustee: Jeffrey R. Westphal

 

2020 Irrevocable Trust fbo Constance A.
Thompson

Trustees: Christopher J. Thompson,
Constance A. Thompson

 

2020 Irrevocable Trust fbo Nicholas A.
Shuhan

Trustees: Nicholas A. Shuhan, Joshua
R. Levine and Stephen R. Treat

 

    38

     

    

 

EXHIBIT A

 

FORM OF JOINDER AGREEMENT

 

[Attached]

 

    39

     

    

 

JOINDER AGREEMENT

 

This JOINDER AGREEMENT
to the Third Amended and Restated Stockholders’ Agreement (the “Joinder Agreement”) is made and entered
into as of _______, ____, by and among Vertex, Inc., a Delaware corporation (the “Company”), and the undersigned
(the “Joining Stockholders”), and relates to that certain Third Amended and Restated Stockholders’ Agreement,
dated as of July 28, 2020 (as amended from time to time, the “Stockholders’ Agreement”), by and among
the Company and each Person set forth on Schedule 2 to the Stockholders’ Agreement and any other Person who becomes a party
to the Stockholders’ Agreement pursuant to the provisions of the Stockholders’ Agreement (each such Person, individually,
a “Stockholder” and, collectively, the “Stockholders”). Capitalized terms used and not defined
herein shall have the meanings ascribed to such terms in the Stockholders’ Agreement.

 

WHEREAS, the Joining
Stockholders are acquiring as transferees shares of Class B Stock, par value $0.0001 per share, of the Company and, in connection
therewith, have agreed to become a party to the Stockholders’ Agreement on the terms set forth herein.

 

NOW, THEREFORE, in
consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto agree as follows:

 

1. Agreement to
be Bound. Each Joining Stockholder agrees that, upon the execution of this Joinder Agreement, such Joining Stockholder shall
become a party to the Stockholders’ Agreement and shall be fully bound by, and subject to, all of the covenants, terms and
conditions of the Stockholders’ Agreement and such Joining Stockholder shall be deemed a “Stockholder” thereunder
for all purposes.

 

2. Binding Effect.
This Joinder Agreement shall be binding upon and shall inure to the benefit of, and be enforceable by, the Company, the Stockholders
and the Joining Stockholders and their respective heirs, personal representatives, successors and assigns.

 

3. Severability.
If any provision of this Joinder Agreement (or any portion thereof) or the application of any such provision (or any portion thereof)
to any Person or circumstance shall be held invalid, illegal or unenforceable in any respect by a Governmental Authority, such
invalidity, illegality or unenforceability shall not affect any other provision hereof (or the remaining portion thereof) or the
application of such provision to any other Persons or circumstances. Upon such determination that any provision of this Joinder
Agreement (or any portion thereof) or the application of any such provision (or any portion thereof) to any Person or circumstance
is invalid, illegal or unenforceable, the parties hereto shall negotiate in good faith to modify this Joinder Agreement so as to
effect the original intent of the parties hereto as closely as possible in an acceptable manner to the end that the transactions
contemplated hereby are fulfilled to the extent possible.

 

4. Further
Agreement. The parties hereto shall use commercially reasonable efforts to do and perform or cause to be done and
performed all such further acts and things and shall execute and deliver all such other agreements, certificates, instruments
or documents as any other party may reasonably request in order to carry out the intent and purposes of this Joinder
Agreement and to consummate the transactions contemplated hereby.

 

    40

     

    

 

5. Effect of Headings.
The Section headings of this Joinder Agreement have been inserted for convenience of reference only and shall not be deemed
a part of this Joinder Agreement.

 

6. Counterparts.
This Joinder Agreement may be executed in one or more counterparts, each of which shall be deemed to constitute an original, but
all such respective counterparts shall together constitute one and the same instrument. Delivery of an executed counterpart of
a signature page of this Joinder Agreement by facsimile or other electronic image scan shall be effective as delivery of a
manually executed counterpart of this Agreement.

 

7. Governing Law. THIS
JOINDER AGREEMENT SHALL BE GOVERNED BY AND INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT
REFERENCE TO ITS INTERNAL CONFLICTS OF LAWS PRINCIPLES.

 

[Signature page follows]

 

    41

     

    

 

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

 

	 	VERTEX, INC.
	 	 
	 	By: 	                               
	 	Name:
	 	Title:
	 	 
	 	[NAME(S) OF JOINING
    STOCKHOLDER(S)]
	 	 
	 	By:	
	 	Name:
	 	Title:

 

[Signature Page to Joinder Agreement]

 

    42Exhibit 10.4

 

EXECUTIVE
EMPLOYMENT AGREEMENT

(as amended and restated)

 

THIS EXECUTIVE EMPLOYMENT AGREEMENT (“Agreement”)
is made as of July 20, 2020 by and between VERTEX, INC., a Delaware corporation (“Company”), with offices at
2301 Renaissance Boulevard, King of Prussia, PA 19406, and Lisa A. Butler (“Executive”).

 

Recital

 

WHEREAS, Executive is currently employed by
the Company as Chief Accounting Officer, pursuant to an Employment Agreement dated February 12, 2015, as amended from time to time
(the “Prior Agreement”);

 

WHEREAS, in the course of its business, the
Company has invested and will continue to invest substantial time, effort, money and other resources in the creation, development,
maintenance and protection of confidential and proprietary business methods, Documents (as defined herein) and information, as
well as substantial and ongoing customer and industry relationships, all of which gain for the Company a substantial advantage
in the marketplace and represent assets of great value to the Company and all of which will continue to be disclosed to Executive
in the course of Executive’s employment with the Company;

 

WHEREAS, the Company and Executive recognize
the Company's legitimate business interest in protecting its confidential and proprietary business methods, Documents and information,
as well as its substantial and ongoing customer and industry relationships; and

 

WHEREAS, Executive and the Company desire
to enter into this Agreement to set out the terms and conditions for the continued employment relationship of Executive with the
Company effective as of the date of consummation of the initial public offering of the Company’s Class A common stock pursuant
to an effective registration statement filed under the Securities Act of 1933, as amended, (the “Effective Date”).

 

NOW, THEREFORE, in consideration of the mutual
covenants and agreements set forth herein and, specifically, in consideration of the Company’s continued employment of Executive
and Executive’s resulting access to the Company’s confidential and proprietary business methods, Documents and information
as well as to its substantial and ongoing customer and industry relationships, the Company and Executive agree as follows:

 

1.             
Employment and Duties. The Company shall
continue to employ Executive in the position of Chief Accounting Officer of the Company reporting to the Chief Financial Officer
of the Company, and Executive hereby accepts such continued employment. Executive shall perform duties incident to this position,
as well as any other duties that may be assigned to Executive from time to time by the Chief Financial Officer and/or the Chief
Executive Officer of the Company (the “CEO”) or his or her designee, that are not inconsistent with service
as an officer of the Company, including duties for any Company subsidiary or affiliate. Executive shall abide by the Company’s
Code of Ethics and Business Conduct (“Code of Conduct”), policies, practices, procedures, and rules. 

 

2.             
Term; Termination.

 

(a)           
Subject to the provisions of Section 14, Executive’s employment under this Agreement shall remain in effect until
terminated in accordance with the provisions of this paragraph.

 

     

     

    

 

(b)           
Executive’s employment may be terminated hereunder as follows:

 

(i)               
Executive’s employment shall terminate automatically upon Executive’s death and may be terminated at any time,
in the Company’s sole discretion, upon Executive’s “Disability.” For purposes of this Agreement,
 “Disability” shall mean that because of physical or mental illness or incapacity Executive is unable to substantially
perform all of the essential functions of Executive’s position on a full-time basis with or without reasonable accommodation,
for a period of 90 consecutive days or in excess of 180 days in any one-year period. This provision does not limit Executive’s
access to and use of benefits made available to Executive by the Company pursuant to this Agreement. Further, this provision is
not intended to replace or supersede any applicable laws.

 

(ii)              
The Company may terminate Executive’s employment for “Cause,” without advance notice and with no
other continuing obligations of the Company to Executive under this Agreement. For purposes of this Agreement, “Cause”
shall mean (A) Executive’s material breach of this Agreement (including but not limited to Sections 6, 7, or 8 hereof); (B)
Executive’s repeated failure to perform Executive’s duties or obligations to the Company or any corporation or other
legal entity of which the Company has at least 51% equity ownership (a “Subsidiary”); (C) Executive’s
willful misconduct that is materially injurious to the Company or any Subsidiary; (D) dishonesty, unethical, fraudulent or similar
misconduct on the part of Executive in connection with Executive’s employment by, or performance of services for, the Company
or any Subsidiary; (E) Executive’s use of non-prescription controlled substances, misuse of prescription drugs, or habitual
intoxication during work hours; (F) Executive’s conviction (which includes a guilty plea or plea of nolo contendere) of a
felony or any other crime involving fraud, dishonesty or moral turpitude; (G) Executive’s material violation of any policy
of the Company or of any Subsidiary for which Executive performs services; or (H) Executive’s refusal to follow any directions
of the Board of Directors of the Company (the “Board”) or any other person at the Company or any Subsidiary
to whom Executive reports that are reasonable, lawful and consistent with the Company’s Code of Conduct, policies, practices,
procedures, and rules. Notwithstanding the foregoing, the parties agree that “Cause” does not include any act
of Executive covered by (A), (B), (G) or (H) of the foregoing sentence, that in the sole discretion of the CEO or his or her designee,
is capable of cure and is cured by Executive within thirty (30) days after written notice thereof has been provided to Executive.

 

(iii)             
The Company may terminate Executive’s employment without Cause upon thirty (30) days’ written notice to Executive
(or, at the Company's option, the Company may provide Executive a maximum of thirty (30) days’ pay in lieu of such notice).
In the event of (x) any termination by the Company without Cause pursuant to this subparagraph 2(b)(iii), or (y) any termination
by Executive for Good Reason (as defined below) pursuant to subparagraph 2(b)(vi), provided, in any case, Executive first signs
a general separation agreement and release of claims against the Company, its Subsidiaries and affiliates, in form to be provided
by the Company that is substantially similar to the sample form attached hereto as Appendix A (“Release”), and further
provided that Executive remains in compliance with Executive’s continuing obligations under paragraphs 6 and 7 of this Agreement,
Executive will be entitled to the following: (a) payment of Executive’s Base Salary (as defined below) under Section 3(a)
at the rate in effect on the date of termination of employment for a period of twelve (12) months (the “Severance Period”);
and (b) if Executive timely elects continuation coverage under COBRA, payment of insurance premiums in order to continue Executive’s
then-existing health insurance coverage for a period of eighteen (18) months, or, at the Company’s option, payment to Executive
as additional severance pay in an amount equal to the premium payments for such continuation coverage. The health insurance continuation
(or equivalent payment as additional severance) shall be at the Company’s expense, but shall in all events terminate on the
date Executive becomes eligible for health insurance coverage under the medical plan of a new employer.

 

    - 2 -

     

    

 

(iv)             
Executive may terminate Executive’s employment for any reason or no reason upon at least thirty (30) days’ written
notice to the Company; provided, however, that following such notice of termination, the Company may, at its option, select
a shorter notice period and earlier termination date than Executive provided, without incurring liability hereunder or changing
the nature of Executive’s termination.

 

(v)              
Except as provided in subparagraph 2(b)(iii), in the event of termination of employment for any reason, Executive (or Executive’s
estate, as applicable) shall be entitled to no payments or benefits following the date of termination other than payment of (i)
accrued but unpaid Base Salary earned through the termination date; (ii) the unpaid portion of incentive compensation, if any,
earned by Executive with respect to the calendar year preceding the calendar year in which the date of termination occurs, subject
to the terms and conditions of any plan governing such incentive compensation; (iii) expenses reimbursable under Section 5 incurred
but not yet reimbursed to Executive prior to the termination date; and (iv) any vested benefits or amounts through the date of
termination due and owing to Executive under the terms of any plan, program, or arrangement of the Company, less any amounts then
owed by Executive to the Company. For the avoidance of doubt, if Executive’s employment shall terminate as a result of Executive’s
death or Disability pursuant to Section 2(b)(i), pursuant to Section 2(b)(ii) for Cause, or pursuant to Section 2(b)(iv) for Executive’s
resignation from the Company without Good Reason or for no reason, then Executive shall not be entitled to any payments or benefits,
except for those payments and benefits provided in clauses (i), (ii), (iii) and (iv) of this Section 2(b)(v).

 

(vi)             
Executive may terminate Executive’s employment for Good Reason. “Good Reason” means, unless otherwise
consented to by Executive, any action taken by the Company that causes (i) a material breach of this Agreement, (ii) the material
diminution of Executive’s duties, (iii) a material decrease in Base Salary or (iv) any relocation of Executive’s principal
office to a location more than fifty (50) miles from Executive’s then current office. Before resigning for Good Reason, Executive
shall provide written notice to the Company of the ground giving rise to Good Reason. The notice shall be provided within sixty
(60) days of the occurrence of the event giving rise to Good Reason. The Company shall then have thirty (30) days within which
to cure such event. If the Company fails to cure, Executive shall have the right to resign for Good Reason, provided the resignation
occurs no later than one hundred and twenty (120) days from the date of the occurrence of the event giving rise to Good Reason.

 

(c)           
Amounts payable under this Agreement that are subject to Executive’s execution of the Release shall commence on the
sixtieth day after Executive’s separation from service. Executive shall not be entitled to any such payments unless Executive
executes the Release within forty-five days of the later of the date Executive receives the Release or Executive’s separation
from service, and does not revoke the Release; provided, however, that in no event shall the Company provide such Release to Executive
later than five (5) business days after Executive’s separation from service. Any amounts payable under this Agreement as
an uninterrupted continuation of Executive’s Base Salary or health insurance coverage that are delayed pending Executive’s
execution of a Release shall be paid in an aggregate lump sum upon such sixtieth day; provided, however, that Executive shall be
responsible for paying any premiums that are due and necessary for the continuation of Executive’s health insurance coverage
prior to such sixtieth day, subject to reimbursement of such amounts to Executive by the Company upon the lapse of such sixty-day
period. In the event Executive commits a material breach of Section 6 or Section 7 that, in the sole discretion of the CEO or his
or her designee, is not capable of cure, or is not cured by Executive within thirty (30) days after notice thereof to Executive,
then, without limiting the availability to the Company of any other relief or remedy, Executive shall no longer be entitled to
any severance compensation or benefits provided for above in subparagraph 2(b)(iii) that have not yet been paid, and shall be required
to repay to the Company any amounts theretofore paid under such subsection.

 

    - 3 -

     

    

 

(d)           
Prior to and following any termination of employment, (i) Executive shall not disparage the professional or personal reputation
of the Company, its Subsidiaries and affiliates or any of their officers, shareholders, directors, management, or employees or
any products or services of the Company, its Subsidiaries and affiliates (other than good faith statements made in the performance
of Executive’s duties during Executive’s employment); and (ii) the Board shall not disparage the professional or personal
reputation of Executive (other than good faith statements made during Executive’s employment). Nothing in this paragraph
shall preclude any party from making truthful statements that are reasonably necessary to comply with applicable law, regulation
or legal process, or to defend or enforce a party’s rights under this Agreement.

 

(e)           
In event of termination of Executive’s employment for any reason, Executive shall be deemed to have resigned from
each position Executive holds as an officer or director of the Company and any Subsidiary or affiliate of the Company effective
as of no later than the termination date.

 

3.             
Compensation.

 

(a)           
Salary. Beginning on the Effective Date, Executive’s annual base salary (“Base Salary”)
shall be three hundred two thousand six hundred seventy-nine dollars ($302,679), payable in accordance with the Company’s
generally applicable payroll practices and subject to any payroll or other deductions required by law, government or court order,
or by agreement with, or consent of, Executive. The Base Salary may be increased from time to time in the discretion of the Board
or the CEO or his or her designee.

 

(b)           
Incentive Compensation. Executive shall continue to be eligible to participate in the incentive compensation plans
the Company may implement from time to time. The target bonus amounts and performance targets for Executive shall be established
at the same time such amounts and targets are established for other executive officers of the Company, shall be as determined by
the Board, and shall be payable only upon the Company’s achievement of established targets as determined by the Board. Notwithstanding
the foregoing, the Company and Executive agree that Executive’s target annual bonus will equal forty percent (40%) of Executive’s
Base Salary.

 

(c)            Performance
Bonus. Executive shall be eligible to receive a bonus in the amount of seventy-five thousand dollars ($75,000) (“Performance
Bonus”), subject to the Company’s generally applicable payroll practices and any payroll or other deductions required
by law, upon the earlier to occur of the following: (i) the filing of the Company’s first quarterly public company financial
statement during calendar year 2020, (ii) the date the Board makes a determination to terminate the pursuit of the filing of a
registration statement on Form S-1 during calendar year 2020, or (iii) December 31, 2020. Payment of the Performance Bonus by the
Company is to occur no later than thirty (30) days from the date of the event giving rise to the obligation for such Performance
Bonus. Executive must remain actively employed and in compliance with the Company’s policies and directives concerning job
performance and conduct to receive the Performance Bonus.

 

(d)            Early
Termination. Within six (6) months of (i) the timely filing of the Company’s first quarterly public company financial
statement during calendar year 2020, (ii) the date the Board makes a determination to terminate the pursuit of the filing of a
registration statement on Form S-1 during calendar year 2020, or (iii) December 31, 2020, the Company and Executive may mutually
agree that Executive and the Company should terminate this Agreement and Executive would be entitled to the severance payments
and benefits set forth in Section 2(b)(iii), subject to the terms and conditions of that section.

 

    - 4 -

     

    

 

(e)            Executive
MBA. The Company agrees to reimburse Executive for a maximum of $75,000 in tuition and tuition related expenses for an accredited
executive master’s degree in business administration (“EMBA”) program located in the United States. Executive
shall submit (i) tuition costs to the Company for approval prior to incurring these expenses and (ii) any tuition-related expenses,
including books and travel, after they have been incurred in accordance with the Company’s expense reimbursement policy.
To the extent such reimbursement is determined to be treated as taxable compensation to the Executive, the Company shall reimburse
Executive or pay such amounts directly (through payroll gross up). If Executive voluntarily terminates this Agreement within one
(1) year from completion of the EMBA, Executive shall reimburse the Company for the $75,000 in its entirety (excluding any payroll
tax payments or reimbursements) within forty-five (45) days of such termination and Executive authorizes the Company to deduct
(in compliance with federal and state laws) from any amounts then owed to Executive by the Company, all amounts owed to the Company
under this Section (3)(e).

 

4.             
Vacation and Executive Benefits. 

 

(a)           
Executive shall be entitled to paid time off (“PTO”) in accordance with the Company’s standard
PTO policy, as well as five (5) days PTO in addition to what is provided under the Company’s standard PTO policy; provided,
that Executive will use Executive’s reasonable discretion, taking into account the Company’s needs, when determining
the time to take vacation.

 

(b)           
Executive shall be entitled to participate in the same manner and under the same terms and conditions as similarly-situated
executives of the Company, in the Company’s medical insurance, retirement plans, and other fringe benefit programs, including,
for the avoidance of doubt, any group life and/or long-term disability insurance plans or programs adopted by the Company after
the Effective Date, with Executive's rights and responsibilities under these programs governed by the terms of those plans and
programs as they may be in effect and modified from time-to-time.

 

5.             
Expenses. The Company shall reimburse Executive
for all reasonable and substantiated ordinary and necessary business expenses incurred in performing Executive’s duties under
this Agreement, provided that Executive shall comply with all Company requirements relating to the submission and documentation
of such expenses.

 

6.             
Loyalty, Best Efforts, Non-Competition, Non-Solicitation.

 

(a)           
Executive will, while employed by the Company, devote all of Executive’s full time and best efforts and, during work
hours, all of Executive’s attention, to the business of the Company, its Subsidiaries and affiliates and to the performance
of Executive’s duties. Further, Executive will not, without the advance, written permission of the CEO or his or her designee,
engage in any activity that would in any way or to any extent, interfere with the performance of Executive’s duties, including,
without limitation, engaging to any extent in any other employment or occupation, whether or not for compensation, or undertaking
any financial or other investment.

 

(b)           
Executive hereby agrees that during Executive’s employment with the Company and for the period of twelve (12) months
after termination of employment for any reason (the “Restricted Period”), Executive will not, without the advance,
written permission of the CEO or his or her designee, engage in Competition (as defined below) with the Company. Executive shall
be deemed to be engaging in “Competition” if Executive (A) engages anywhere within the United States of America
or any other place where the Company, its Subsidiaries or affiliates are engaged during Executive’s employment or actively
preparing to be engaged in business (the “Restricted Territory”), in any business in which the Company, any
of its Subsidiaries or affiliates is engaged or has invested material funds in development at the time of such termination of employment,
and/or (B) owns, in whole or in part, is employed by, provides financing to, consults with or otherwise renders services to any
person or entity who is engaged in any business (or proposes to engage in any business) in which the Company, any of its Subsidiaries
or affiliates is engaged or has invested material funds in development at the time of such termination of employment anywhere within
the Restricted Territory (for avoidance of doubt, such persons or entities include, but are not limited to, any of the following
entities or their successors: Thomson Reuters, CCH/Wolters Kluwer, Avalara, Longview Solutions, MLM CorpTax, Taxware). Notwithstanding
anything herein to the contrary, Executive may make passive investments in any enterprise the shares of which are publicly traded
if such investment constitutes less than two percent (2%) of the equity of such enterprise.

 

    - 5 -

     

    

 

(c)           
During the Restricted Period, Executive will not, directly or indirectly, (i) hire or assist any other person or entity
to hire any current or former employee of the Company, its Subsidiaries or its affiliates, or (ii) recruit, solicit or induce,
or assist any other person or entity to recruit, solicit or induce, any current or former employee to leave the employment of the
Company, its Subsidiaries or its affiliates. For purposes of this subparagraph (c), “former employee” shall mean an
individual who was employed by the Company, any of its Subsidiaries or any of its affiliates at any time within the twelve months
prior to this prohibited activity.

 

(d)           
During the Restricted Period, Executive will not, directly or indirectly, solicit, induce, or attempt to induce any customer,
client, or prospect of the Company, its Subsidiaries or its affiliates, to stop doing business in whole or in part with or through
the Company, its Subsidiaries or affiliates, or to do business with any person or entity that competes with the Company. For the
purposes of this subparagraph (d), “prospect” means any person or entity which the Company, its Subsidiaries or its
affiliates had solicited for business within one year prior to the termination of Executive’s employment.

 

(e)           
During the Restricted Period, Executive will promptly disclose to the Company any and all direct contacts, solicitations,
inquiries or other actual or potential business opportunities of which Executive may become aware and which relate to the business
of the Company or any of its Subsidiaries or affiliates; provided, however, that the disclosure obligation under this paragraph
shall apply only to such contacts, solicitations, inquiries, and opportunities of which Executive became aware during Executive’s
employment with the Company.

 

(f)            
Executive acknowledges and agrees that the restrictions imposed by this Paragraph 6 are a condition of Executive’s
employment with the Company; are fair and reasonably required for the protection of the Company; and will not preclude Executive
from becoming gainfully employed following the termination of employment with the Company, regardless of reason. Executive further
acknowledges and agrees that Executive provides and/or will provide unique services to the Company and that this Agreement has
unique, substantial, and immeasurable value to the Company. If the Company seeks enforcement based on a breach of the provisions
of this Section 6, the Company shall be entitled to reimbursement for the reasonable attorney’s fees and expenses incurred
by the Company in that effort if the Company prevails in whole or in substantial part in its action. In the event of any breach
of subparagraphs (b) through (e) above, the time periods set forth in those paragraphs shall be extended by the length of time
Executive is in breach. In the event that the provisions of this Paragraph 6 should ever be deemed to exceed the limitations permitted
by applicable laws, Executive and the Company agree that such provisions shall be reformed to the maximum limitations permitted
by the applicable laws.

 

    - 6 -

     

    

 

7.             
Confidentiality and Ownership of Documents, Methods and Information.

 

(a)           
Executive agrees that, both during employment with the Company and thereafter, Executive will treat the business affairs
of the Company, its Subsidiaries and its affiliates as confidential and will not discuss or disclose any Confidential Information
(as hereafter defined) of the Company, its Subsidiaries or its affiliates with or to any third party, except (i) as required in
connection with the performance of duties on behalf of the Company or (ii) as authorized in advance by the CEO or his or her designee,
and in each such case only after ensuring that the recipient has agreed in writing to appropriate confidentiality obligations,
unless Executive has been otherwise instructed by the CEO or his or her designee. Further, Executive shall take reasonable steps
and security precautions to prevent the unauthorized disclosure of Confidential Information and all components thereof, and to
maintain the confidentiality of the Company’s intellectual property. Notwithstanding the foregoing, Executive may disclose
Confidential Information to the extent required by law or regulation; provided that Executive promptly notifies the Company of
the disclosure request and, at the Company’s request, provides reasonable assistance in any effort to prevent or limit such
disclosure.

 

(b)           
Executive agrees that all Confidential Information, Documents, materials, business methods and other information created
by, disclosed to or otherwise acquired by Executive in the course of employment with the Company (collectively, “Works”)
are and remain the exclusive property of the Company and are “works made for hire” for the Company under the copyright
laws; that Executive will not retain, copy or otherwise appropriate any Work for Executive’s own use or purposes or the use
or purposes of any third party and that, upon the termination of employment, Executive will return all Works, including all copies
or multiple versions thereof, to the Company and, in the case of Confidential Information, will destroy all electronic versions
Executive may have on any device in Executive’s possession or under Executive’s control and in any format or media,
and all excerpts and references that may be in any items Executive may have created, and, to the extent that Executive is not able
to destroy all such copies, excerpts and references shall continue to hold them as the confidential and proprietary property of
the Company and not disclose them or use them for any purpose. Further, in return for good and valuable consideration including
Executive’s employment relationship with the Company, Executive hereby assigns to the Company Executive’s entire right,
title and interest in and to all Works. Executive also agrees, at the Company’s request and expense, to execute specific
assignments to the Works, and execute, acknowledge and deliver such other documents and take such further action as the Company
may require, at any time during or subsequent to the period of Executive’s employment with the Company, to vest title in
such Works in the Company and to obtain and defend copyright registrations in any and all countries. In addition, all inventions
conceived and/or reduced to practice during Executive’s employment with the Company and which relate to the business of the
Company are hereby assigned to the Company, in return for good and valuable consideration including Executive’s employment
relationship with the Company. Executive agrees, at the Company’s request and expense, to execute specific assignments to
any inventions and to execute, acknowledge and deliver such other documents and take such further action as the Company may require,
at any time during or subsequent to the period of Executive’s employment with the Company, to vest title in all such inventions
in the Company in any and all countries; to obtain patents covering such inventions in any and all countries; and to vest title
in such patents in the Company. Executive also agrees that an invention disclosed by Executive to a third person or described in
a patent application filed by or on Executive’s behalf within twelve months following termination of Executive’s employment
with the Company for any reason shall be presumed to have been conceived or made by Executive during the period of employment,
unless proved to have been conceived or made by Executive following the termination of Executive’s employment with the Company.
Executive hereby assigns Executive’s entire right, title and interest in and to such inventions to the Company, and agrees
to execute and deliver any documents or take any such actions as requested by the Company to vest title in such inventions exclusively
in the Company.

 

    - 7 -

     

    

 

(c)           
Executive is hereby notified that the requirements of paragraph (b) above do not apply to an invention for which no equipment,
supplies, facility or Confidential Information of the Company was used and which was developed entirely on Executive’s own
time, unless (i) the invention relates to (A) the business of the Company, its Subsidiaries or its affiliates, or (B) the Company’s
actual or demonstrably anticipated research or development, or (ii) the invention results from any work performed by Executive
for the Company.

 

(d)           
For purposes of this Agreement the term “Document” shall include correspondence, email, other written
communications, data processing and storage units, computer software, tapes, contracts, agreements, notes, memoranda, telephone
messages, analyses, projections, indices, work papers, studies, surveys, diaries, calendars, films, photographs, minutes of meetings,
management or sales proposals, operations manuals or any other writing, including copies of any of the foregoing, in any format
or media, past, current or future, including, without limitation, written, printed, typed, recorded or graphic matter or electronic
media, however produced or reproduced. For the purposes of this Agreement the term “Confidential Information” means
information (i) developed by, disclosed to or known by Executive as a consequence of Executive’s employment with the Company,
(ii) not generally known to others outside the Company, and (iii) which relates to the business of the Company, its Subsidiaries
and its affiliates. Confidential Information includes but is not limited to the trade secrets, equipment, equipment configuration,
research, development efforts, methodologies, testing, engineering, manufacturing, marketing, sales, finances, operations, processes,
formulas, methods, techniques, devices, software programs, projections, strategies and plans, personnel information, and customer
information, including customer needs, contacts, particular projects, lists, and pricing of the Company, its Subsidiaries and its
affiliates. Confidential Information shall not include any information which has been published in a form generally available to
the public prior to the date upon which Executive either wrongfully discloses or proposes to disclose such information.

 

(e)           
Notwithstanding anything to the contrary herein, nothing in this Agreement is intended to or will be used by the Company
in any way to prohibit Executive from reporting possible violations of federal law or regulation to any United States governmental
agency or entity in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act of
1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions of state or federal law
or regulation (including the right to receive an award for information provided to any such government agencies). Furthermore,
in accordance with 18 U.S.C. § 1833, notwithstanding anything to the contrary in this Agreement: (A) Executive shall not be
in breach of this Agreement and shall not be held criminally or civilly liable under any federal or state trade secret law (x)
for the disclosure of a trade secret that is made in confidence to a federal, state, or local government official or to an attorney
solely for the purpose of reporting or investigating a suspected violation of law, or (y) for the disclosure of a trade secret
that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; and (B)
if Executive files a lawsuit for 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
files any document containing the trade secret under seal, and does not disclose the trade secret, except pursuant to court order.

 

8.             
Conflict of Interest; Avoiding the Appearance of Impropriety.
Executive agrees that Executive’s duty of loyalty to the Company requires both complete fidelity to the interests of the
Company in fact and the avoidance of any appearance of impropriety, favoritism, personal benefit or aggrandizement or confusion
between Executive’s personal and business activities. Executive further agrees that Executive’s conduct must be consistent
with the Company’s Code of Conduct. To that end, while an executive officer of the Company, Executive shall not, without
the advance, written approval of the CEO or his or her designee: 

 

(a)           
accept gifts, gratuities or favors of more than nominal value from any person or organization doing business or seeking
to do business with the Company, its Subsidiaries or its affiliates, or from any employee of the Company with whom Executive has
a direct or indirect reporting relationship;

 

    - 8 -

     

    

 

(b)           
offer or provide any gift, gratuity or favor of more than nominal value to any person or organization with whom or which
the Company, any of its Subsidiaries or any of its affiliates is doing business or seeking to do business or take any other action
in respect of such person or organization, specifically including but not limited to, any public entity, officer thereof or federal,
state or local government employee or officeholder, suggestive of any intent or effort to influence such individual or organization
in the performance of their or its duties; or

 

(c)           
make use of Executive’s job title or affiliation with the Company in connection with participation in outside organizations
(with the exception of professional and industry organizations relating to Executive’s job duties) or support of political,
legal or other causes or organizations.

 

9.             
Injunctive Relief. Subject to the provisions
of Paragraph 10, the Company will, in addition to other remedies provided by law, have the right to injunctive relief in court
to the extent such relief may be available at law or in equity. Executive acknowledges that any breach or threatened breach of
the provisions of this Agreement, including but not limited to the provisions of Paragraphs 6 and 7, will cause irreparable damage
to the Company for which monetary damages will not provide an adequate remedy. Nothing contained herein will be construed as prohibiting
the parties from pursuing any other remedies available to them for such breach or threatened breach, including any recovery of
damages.

 

10.           
Dispute Resolution. With the specific exception
only of the Company’s right at any time to seek equitable relief to enforce the provisions of Paragraphs 6 and 7 of this
Agreement in the courts, in the event of any dispute between the Company and Executive, whether arising out of or relating to this
Agreement, the breach of this Agreement, or Executive’s employment with the Company, Executive and the Company hereby agree
that, after making a good-faith effort to resolve any dispute, such dispute shall be resolved by final and binding arbitration
in Chester County, Pennsylvania, administered by the American Arbitration Association (“AAA”) in accordance with its
Commercial Arbitration Rules then in effect, and judgment on the award rendered by the arbitrator may be entered in any court having
jurisdiction thereof, subject to the provisions of subparagraph 16(b). Any arbitration shall be held before a single arbitrator
who shall be selected by mutual agreement of the Company and Executive, unless the parties are unable to agree to an arbitrator,
in which case the arbitrator will be selected under the procedures of the AAA. The arbitrator shall have the authority to award
any remedy or relief that a court of competent jurisdiction could order or grant, including, without limitation, the issuance of
an injunction, and the parties hereby agree to the emergency procedures of the AAA. Issues of arbitrability are to be decided by
the arbitrator. A demand for arbitration under this paragraph must be made in writing to the other party within the time limit
set by law for bringing that claim in court, or that claim shall be forever barred. The prevailing party shall be entitled to an
award which shall include all costs of arbitration, including reasonable attorneys’ fees, unless the arbitrator determines
that to do so would be inconsistent with applicable law.

 

11.           
Notice. Any notice, demand, or other communication
required to be given pursuant to the provisions of this Agreement shall be in writing and shall be personally delivered to the
other party in person or at their place of business or to Executive at Executive’s residence, delivered by a nationally recognized
overnight delivery service, or sent by certified mail, email or other electronic means, return receipt requested, postage prepaid
(as applicable), addressed to the respective addresses last given by each party to the other, and such notice shall be deemed to
have been given upon personal delivery, if personally delivered, as of the close of the third business day following the date of
mailing if mailed (except that notice of change of address shall be effective only upon receipt), or on the next business day in
the case of overnight delivery service, email or other electronic means. Any notice to the Company shall be addressed to the attention
of the General Counsel. 

 

    - 9 -

     

    

 

12.           
Entire Agreement; Modification. This Agreement
represents the entire agreement between the parties with respect to its subject matter and supersedes all prior agreements and
understandings, oral or written, between them, with respect to its subject matter, including the Prior Agreement. This Agreement
may not be modified or amended except by a writing signed by both parties; provided, however, that this paragraph shall not limit
the right of the Company to promulgate nor excuse Executive from compliance with, such workplace rules, policies and procedures
as it may, from time-to-time, deem appropriate or to alter, amend, modify or terminate any employee benefit plan (whether or not
referenced in this Agreement) in accordance with the terms of such plan.

 

13.           
Successors and Assigns. This Agreement
shall inure to the benefit of the Company’s successors and permitted assigns. Executive’s rights and obligations under
this Agreement are personal and not assignable or delegable by Executive in any manner or to any extent. Executive agrees that
the Company can assign this Agreement to an entity that is a successor to the Company by statutory merger or otherwise, or that
has purchased substantially all of the assets of the Company, without the consent or approval of Executive. As used in this Agreement,
the term “Company” shall include any successor to the Company’s business and/or assets which assumes and agrees
to perform this Agreement by operation of law or otherwise. 

 

14.           
Termination and Survivability. This Agreement
shall terminate upon the termination of Executive’s employment with the Company; provided, however, that the provisions of
Paragraphs 2 and 6 through 20 shall survive the termination and any expiration of the Agreement.

 

15.           
Waiver. The waiver by any party of a breach
of any provision of this Agreement by any other party shall not operate or be construed as a waiver of any subsequent breach.

 

16.           
Governing Law; Choice of Forum.

 

(a)           
This Agreement shall be construed and enforced in accordance with the laws of the Commonwealth of Pennsylvania (and United
States federal law, to the extent applicable), without giving effect to otherwise applicable principles of conflicts of law.

 

(b)           
Without limiting in any way the Company’s right to enforce the provisions of Paragraphs 6, 7 & 8 of this Agreement,
any action to enforce the decision or award of the arbitrator under Paragraph 10 hereof may be brought and maintained only in the
Court of Common Pleas of Chester County, Pennsylvania or the United States District Court for the Eastern District of Pennsylvania
(to the extent that the latter court may have jurisdiction over the subject matter).

 

17.           
Headings. The headings used herein are
for convenience of reference only and shall not affect the interpretation of any term or provision hereof.

 

18.           
Severability. If any provision of this
Agreement shall be found invalid or unenforceable for any reason, in whole or in part, then such provision shall be deemed modified,
restricted, or reformulated to the extent and in the manner necessary to render the same valid and enforceable, or shall be deemed
excised from this Agreement, as the case may require, and this Agreement shall be construed and enforced to the maximum extent
permitted by law, as if such provision had been originally incorporated herein as so modified, restricted, or reformulated or as
if such provision had not been originally incorporated herein, as the case may be.

 

    - 10 -

     

    

 

19.           
Withholding. All Base Salary, incentive
compensation, expense reimbursements, severance pay, and other payments made by the Company to Executive under this Agreement shall
be subject to customary withholding for applicable federal, state and local taxes, FICA and other amounts required by applicable
law.

 

20.           
Internal Revenue Code Section 409A.

 

(a)           
This Agreement is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”),
and the corresponding regulations, and the payments and benefits provided hereunder are intended to qualify for any applicable
exemptions from the definition of deferred compensation under Code Section 409A. To the maximum extent permitted, the parties agree
that (i) this Agreement shall be interpreted as being in compliance with Code Section 409A, and (ii) the payments and benefits
will be reported to the Internal Revenue Service as being in compliance with Code Section 409A. For purposes of Code Section 409A,
each payment made under this Agreement shall be treated as a separate payment. Severance benefits under this Agreement are intended
to be exempt from Code Section 409A under the “short term deferral” exemption, to the extent applicable. A portion,
the amount of which to be determined in accordance with Treas. Reg. § 1.409A-1(b)(9)(iii), of any additional monthly severance
compensation under this Agreement shall be considered payments under a “separation pay plan” under Code Section 409A.
In no event may Executive designate, directly or indirectly, the calendar year of payment.

 

(b)           
Notwithstanding anything in this Agreement to the contrary, to the extent required by Code Section 409A if Executive is
considered a “specified employee” for purposes of Code Section 409A, and if the payment of any amounts under this Agreement
is required to be delayed for a period of six months after “separation from service” pursuant to Code Section 409A,
payment of such amounts shall be delayed as required by Code Section 409A and the accumulated amounts shall be paid in a single
lump sum within five days after the end of the six-month period. If Executive dies during the postponement period prior to the
payment of benefits, amounts withheld on account of Code Section 409A shall be paid to the personal representative of Executive’s
estate within sixty days after the date of Executive’s death.

 

(c)           
For purposes of this Agreement, “separation from service” shall mean Executive’s separation from service
with the Company and its affiliates within the meaning of Treas. Reg. Section 1.409A-1(h).

 

(d)           
In the case of any in-kind benefits or any expenses eligible for reimbursement provided hereunder that are subject to Code
Section 409A, (i) the benefits provided or the amount of expenses eligible for reimbursement during any calendar year shall not
affect the benefits provided or expenses eligible for reimbursement in any other calendar year, except as provided in Treas. Reg.
 § 1.409A-3(i)(1)(iv)(B), and (ii) the reimbursement of an eligible expense shall be made as soon as possible after Executive
requests such reimbursement, but not later than December 31 following the calendar year in which the expense was incurred.

 

(e)           
Executive’s right to receive any installment payments of deferred compensation shall be treated as a right to receive
a series of separate payments and, accordingly, each such installment payment shall at all times be considered a separate and distinct
payment as permitted under Code Section 409A. Except as otherwise permitted under Code Section 409A, no payment to you shall be
accelerated or deferred unless such acceleration or deferral would not result in additional tax or interest pursuant to Code Section
409A.

 

    - 11 -

     

    

 

21.           
Counterparts. This Agreement may be executed
in counterparts with the same effect as if the parties executing the counterparts all had executed one counterpart as of the date
hereof. All such counterparts taken together shall be deemed the original Agreement.

 

IN WITNESS WHEREOF, the parties have executed
this Agreement as of the day, month and year first above written.

 

	EXECUTIVE:	 	VERTEX, INC.
	 	 	 
	/s/ Lisa
        A. Butler	 	By:	/s/ David DeStefano
	Lisa A. Butler	 	 
	 	 	 
	July 20, 2020	 	 	July 20, 2020
	Date	 	 	Date

 

    - 12 -

     

    

 

APPENDIX A

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

SEPARATION AGREEMENT AND RELEASE

 

This confidential Separation Agreement and
Release (“Agreement”) is entered into by and between Vertex, Inc., a Delaware corporation (the “Company”)
and _____________ (hereinafter referred to as “you,” or “your”) to resolve any and all disputes concerning
your employment with the Company and your separation from employment on ______________. The actual date of separation is referred
to herein as the “Separation Date.”

 

WHEREAS, you are employed by the Company as
___________________, pursuant to an Employment Agreement dated _______________ (“Employment Agreement”);

 

WHEREAS, the Company has decided to terminate
your employment without Cause or you have decided to resign for Good Reason under the Employment Agreement, entitling you to certain
payments and benefits pursuant to paragraph 2(b)(iii) thereunder (“Severance Benefits”), provided you
first sign (and do not revoke) this Agreement and are otherwise in compliance with the Employment Agreement;

 

NOW THEREFORE, in consideration of the mutual
covenants, agreements, and promises hereinafter set forth, and of other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows:

 

1)            
Consideration. On the eighth day after you execute this Agreement (“Effective Date”), provided
that you do not revoke this Agreement under paragraph 6(e), the Company agrees to begin to provide you the Severance Benefits as
set forth in the Employment Agreement.

 

2)            
Termination of Employment. You understand and agree that your employment with the Company and any affiliates, including
any positions on any Company boards and committees, will terminate effective the Separation Date, and such termination shall be
deemed a resignation effective the Separation Date from each position you hold as an officer or director of the Company and any
subsidiary or affiliate of the Company.

 

3)            
No Additional Payments. You acknowledge and agree that you will receive no additional payments or benefits other
than as set forth herein or as required by law.

 

4)            
Release. In exchange for the promises herein which you acknowledge as good and valuable consideration, and except
as provided in paragraph 5, you release and discharge the Company and its past, present and future parents, divisions, subsidiaries,
and affiliates, predecessors, successors and assigns, and their past, present, and future officers, directors, members, partners,
attorneys, employees, independent contractors, agents, clients, and representatives (“Released Parties”)
from any and all actions, causes of action, debts, dues, claims and demands of every name and nature, without limitation, at law,
in equity, or administrative, against the Released Parties which you may have had, now have, or may have, by reason of any matter
or thing arising up to the date you execute this Agreement, including the ending of your employment. Those claims and causes of
action from which you release the Released Parties include, but are not limited to, any known or unknown claim or action sounding
in tort, contract, or discrimination of any kind, any claim arising under the Employment Agreement, and/or any cause of action
arising under federal, state or local constitution, statute or ordinance, including, but not limited to, Title VII of the Civil
Rights Act of 1964, as amended, the Age Discrimination in Employment Act (including the Older Worker Benefit Protection Act), as
amended, the Americans With Disabilities Act, as amended, the Employee Retirement Income Security Act, as amended, the Family and
Medical Leave Act, as amended, the Equal Pay Act, as amended, Section 1981 of the Civil Rights Act of 1866, as amended, the Worker
Adjustment and Retraining Notification Act, as amended, the Sarbanes Oxley Act of 2002, as amended, the Pennsylvania Human Relations
Act, as amended, the Pennsylvania Equal Pay Law, as amended, the Pennsylvania Wage Payment and Collection Law, as amended, the
Pennsylvania Minimum Wage Act, as amended, and any other employee-protective law of any jurisdiction that may apply, and/or any
claim for attorneys’ fees or costs, whether presently accrued, accruing to, or to accrue to you on account of, arising out
of, or in any way connected with any acts or activities by you or the Released Parties arising up to the date you execute this
Agreement. You expressly acknowledge that no claim or cause of action against the Released Parties from the beginning of time to
the date you execute this Agreement (other than as provided in paragraph 5) shall be deemed to be outside the scope of this Agreement
whether mentioned herein or not. You agree that this release should be interpreted as broadly as possible to achieve your intention
to waive, to the maximum extent permitted by law, any and all claims against the Released Parties. Excluded from the release set
forth in this paragraph is any claim which cannot be waived as a matter of law and your right to indemnification by the Company
or any of its affiliates pursuant to contract or applicable law.

 

     

     

    

 

5)            
Rights and Claims Preserved. Nothing in this Agreement limits your right, where applicable, to file or participate
in an investigative proceeding of any federal, state, or local governmental agency, including filing a charge with the United States
Equal Employment Opportunity Commission (“EEOC”). To the extent permitted by law, you agree that if such
an administrative claim is made, you shall not be entitled to recover, accept, or retain any individual monetary relief or other
individual remedies with respect to any matter covered by this Agreement. Nothing in this Agreement prevents you from filing a
lawsuit limited to challenging the validity of your waiver of federal age discrimination claims under the Age Discrimination in
Employment Act and the Older Workers Benefit Protection Act.

 

6)            
OWBPA. The release in paragraph 4 of this Agreement includes a waiver of claims against the Released Parties under
the Age Discrimination in Employment Act (“ADEA”) and the Older Workers Benefit Protection Act (“OWBPA”).
Therefore, pursuant to the requirements of the ADEA and the OWBPA, you specifically acknowledge that:

 

		(a)	you are and have been advised to consult with an attorney of your choosing concerning the legal significance of this Agreement;

 

		(b)	this Agreement is written in a manner you understand;

 

		(c)	the consideration set forth in paragraph 1 of the Agreement is adequate and sufficient for your entering into this Agreement
and consists of benefits to which you are not otherwise entitled;

 

		(d)	you have been afforded twenty-one (21) days to consider this Agreement before signing it, although you may sign it at any time
within those 21 days, and that any changes to this Agreement subsequently agreed upon by the parties, whether material or immaterial,
do not restart this period for consideration; and

 

		(e)	you have been advised that during the seven (7) day period after you sign the Agreement, you may revoke your acceptance of
this Agreement by delivering written notice to ________________________________, and that this Agreement shall not become effective
or enforceable until after the revocation period has expired.

 

     -
                                                                                      2  -

     

    

 

7)            
No Admission of Wrongdoing. The Company denies any wrongdoing whatsoever in connection with its dealings with you,
including but not limited to your employment and termination. It is expressly understood and agreed that nothing contained in this
Agreement shall constitute or be treated as an admission of any wrongdoing or liability on the part of the Company.

 

8)            
Non-Disclosure. The parties understand and agree that this Agreement, and the matters discussed in negotiating its
terms, are entirely confidential. It is therefore expressly understood and agreed that neither party will reveal, discuss, publish
or in any way communicate any of the terms, amount or fact of this Agreement to any person, organization or other entity, with
the exception of your immediate family members and professional representatives, or, with respect to the Company, with the exception
of its professional representatives or as otherwise consistent with business need or necessity, or with respect to both parties,
in an action to enforce the Agreement’s terms, unless required by subpoena or court order.

 

9)            
Non-Disparagement. You agree that you will not disparage any of the Released Parties or make or publish any communication
that reflects adversely upon any of them, consistent with paragraph 2(d) of the Employment Agreement.

 

10)          
No Filing of Claims. You represent that you have not filed, and to the maximum extent permitted by law and except
as provided in paragraph 5, you agree that you will not file, any charge, complaint, lawsuit or claim (collectively, “Claim”)
with any administrative agency, federal, state or local court (collectively, “Agency”) related in any
way to your employment or the separation of your employment with the Company. You further agree that you will not accept, and will
not be entitled to retain, any judgment, award, settlement or other payment or other relief resulting from, or related to, any
Claim filed with any Agency related in any way to your employment with the Company or the termination of your employment. Nothing
in this Agreement prevents you from filing for a state claim of unemployment compensation should you choose to do so.

 

11)          
No Voluntary Cooperation. Except as provided in paragraph 5, and/or unless required to do so by court order or subpoena,
you agree that you will not (i) voluntarily make statements, take action, or give testimony adverse or detrimental to the interests
of the Company; or (ii) aid or assist in any manner the efforts of any third party to sue or prosecute a claim against the Company.
Should you ever be required to give testimony concerning any matter related to your employment with the Company, you agree to provide
notice of such compulsory process to _____________________________, within two (2) business days of its receipt so that the Company
may take appropriate measures to quash or otherwise defend its interests.

 

12)          
Cooperation with the Company. Upon request of the Company, you agree to fully cooperate with the Company and to provide
information and/or testimony regarding any current or future litigation arising from actions or events occurring during your employment
with the Company.

 

13)          
Reemployment. You agree that you will not seek reemployment with the Company or any current or future parent, subsidiary,
or affiliate, except at the request of the Company.

 

14)          
Return of Company Property. You agree that, as a condition precedent to receiving any payment under this Agreement,
you will by the Separation Date return all property belonging to the Company, including, but not limited to, corporate credit cards;
keys and access cards; documents; tapes; cell phones; computers, laptops, iPhone and other computer equipment and software; and
any and all confidential and proprietary information.

 

     - 3
                                                                                      -

     

    

 

15)          
Continuing Obligations. You acknowledge that you remain bound by and affirm that you will comply with all continuing
obligations under the Employment Agreement, including, but not limited to, those set forth in paragraphs 6 and 7 thereof (pertaining
to non-competition, non-solicitation, and confidentiality), and that such compliance is a condition of receipt of the Severance
Benefits. You affirm that you have not violated the terms of the Employment Agreement during your employment with the Company.

 

16)          
Return of Consideration in Event of Breach. You agree that receipt of any consideration and all payments under this
Agreement is contingent on your full compliance with its terms and conditions. Should you breach any provision of this Agreement
(including but not limited to filing a lawsuit based upon any claim covered by this Agreement (but excluding a lawsuit covered
by paragraph 5 of this Agreement)) or any continuing obligation under the Employment Agreement, the Company shall have the right
to recover from you any Severance Benefits already paid, and the Company shall no longer be obligated to provide you any Severance
Benefits otherwise due.

 

17)          
Attorneys’ Fees and Jury Waiver. The prevailing party in an action for breach of this Agreement (except for
a lawsuit covered by paragraph 5) will have its reasonable costs and attorneys’ fees paid for by the party found to have
breached. You and the Company hereby waive trial by jury as to any and all litigation arising out of and/or relating to this Agreement.

 

18)          
Arbitration. Any dispute, controversy, or difference arising out of, or related to, this Agreement or your employment
with the Company shall be resolved by binding arbitration pursuant to paragraph 10 of the Employment Agreement.

 

19)          
Certification of Understanding and Competence. You acknowledge and agree that (a) you have read this Agreement in
its entirety; (b) you are competent to understand, and do understand, the content and effect of this Agreement; (c) by entering
into this Agreement, you are releasing forever the Released Parties from any claim or liability (including claims for attorney’s
fees and costs) arising from your employment with the Company; (d) you are entering this Agreement of your own free will in exchange
for the consideration herein, which you agree is adequate and satisfactory; and (e) neither the Company nor the Released Parties
have made any representations to you concerning the terms or effect of this Agreement, other than those contained in the Agreement.

 

20)          
Acknowledgments. You acknowledge and agree that (a) except for amounts due under Section 2(b)(v) of the Employment
Agreement, you are not owed any wages by the Company for work performed, whether as wages or salary, overtime, bonuses or commissions,
or for accrued but unused paid time off, and that you have been fully compensated for all hours worked; (b) you are not aware of
any factual basis for a claim that the Company has defrauded the government of the United States or any state; (c) you have incurred
no work related injuries; (d) you have received all family or medical leave to which you were entitled under the law; and (e) you
have been and hereby are advised to consult with legal counsel of your choice prior to execution and delivery of this Agreement,
and that you have done so or voluntarily elected not to do so.

 

21)          
Ownership of Claims. You represent and warrant that you are the sole and lawful owner of all rights, title and interest
in and to all released matters, claims and demands referred to herein. You further represent and warrant that there has been no
assignment or other transfer of any interest in any such matters, claims or demands which you may have against the Released Parties.

 

22)          
Counterparts. This Agreement may be executed in separate counterparts and by facsimile, and each such counterpart
shall be deemed an original with the same effect as if all parties had signed the same document.

 

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                                                                                      4 -

     

    

 

23)          
No Other Understandings. This Agreement, consisting of six (6) pages, together with the Employment Agreement, constitutes
the entire Agreement between the parties with respect to its subject matter, and is binding upon and shall inure to the benefit
of the parties and their respective heirs, executors, administrators, personal or legal representatives, successors and/or assigns.
This Agreement may be amended only by a written agreement signed by you and the Company.

 

24)          
Headings. The headings in this Agreement are for convenience only and are not to be considered a construction of
the provisions hereof.

 

25)          
Severability and Governing Law. If any provision of this Agreement is found to be invalid, unenforceable or void
for any reason, such provision shall be severed from the Agreement and shall not affect the validity or enforceability of the remaining
provisions. This Agreement shall be interpreted, enforced and governed by the laws of the Commonwealth of Pennsylvania, without
regard to the conflicts of law provisions thereof.

 

26)          
Acceptance of Agreement. As provided in paragraph 6(d), the Company is providing you 21 days to consider whether
to accept this Agreement (although you may accept it at any time within those 21 days), after which time the offer expires and
is withdrawn if you have not yet accepted it. To accept the Agreement, you must sign below and send it to __________________________.

 

 

	Dated:	 	 	 
	 	 	[NAME]
	 	 	 
		 	 
	Dated:	 	 	 
		 	[NAME]
	 	 	[TITLE]
	 	 	Vertex, Inc. 

 

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                                                                                      5 -

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