Document:

Exhibit 4.10

    

     

    

  

  
    
      AMENDED AND RESTATED

       

      STOCKHOLDERS AGREEMENT

        

        by and among

        

        THRYV HOLDINGS, INC.

        

        and

        

        THE OTHER PARTIES NAMED HEREIN

        

        Dated as of September [      ], 2020

       

    

    
      
        

    

    
    TABLE OF CONTENTS

     

    	 	 	 	
            Page

          
	 	 	 	 
	
            Article I

          	
            Definitions

          	
            1

          
	 	
            Section 1.1

          	
            Certain Definitions

          	
            1

          
	 	
            Section 1.2

          	
            Interpretive Provisions

          	6
	 	 	 	 
	
            Article II

          	
            Corporate Governance

          	
            6

          
	 	
            Section 2.1

          	
            Board of Directors

          	
            6

          
	 	 	 	 
	
            Article III

          	
            Registration Rights

          	
            8

          
	 	
            Section 3.1

          	
            Demand Registration

          	
            8

          
	 	
            Section 3.2

          	
            Piggyback Registration

          	
            12

          
	 	
            Section 3.3

          	
            Certain Information

          	
            14

          
	 	
            Section 3.4

          	
            Expenses

          	
            14

          
	 	
            Section 3.5

          	
            Registration and Qualification

          	
            14

          
	 	
            Section 3.6

          	
            Underwriting; Due Diligence

          	
            17

          
	 	
            Section 3.7

          	
            Indemnification and Contribution

          	
            17

          
	 	
            Section 3.8

          	
            Rule 144 Information

          	
            20

          
	 	
            Section 3.9

          	
            Grant of Additional Registration Rights

          	
            20

          
	 	
            Section 3.10

          	
            Holdback Agreement

          	
            20

          
	 	
            Section 3.11

          	
            Termination

          	
            21

          
	 	 	 	 
	
            Article IV

          	
            Representations and Warranties

          	
            21

          
	 	
            Section 4.1

          	
            Existence; Authority; Enforceability

          	
            21

          
	 	
            Section 4.2

          	
            Absence of Conflicts

          	
            21

          
	 	
            Section 4.3

          	
            Consents

          	
            21

          
	 	 	 	 
	
            Article V

          	
            General

          	
            22

          
	 	
            Section 5.1

          	
            Assignment

          	
            22

          
	 	
            Section 5.2

          	
            Term and Effectiveness

          	
            22

          
	 	
            Section 5.3

          	
            Severability

          	
            22

          
	 	
            Section 5.4

          	
            Entire Agreement; Amendment

          	
            22

          
	 	
            Section 5.5

          	
            Counterparts

          	
            23

          
	 	
            Section 5.6

          	
            Governing Law

          	
            23

          
	 	
            Section 5.7

          	
            Waiver of Jury Trial; Consent to Jurisdiction

          	
            24

          
	 	
            Section 5.8

          	
            Specific Enforcement

          	
            24

          
	 	
            Section 5.9

          	
            Notices

          	
            24

          
	 	
            Section 5.10

          	
            Binding Effect; Third Party Beneficiaries

          	
            25

          
	 	
            Section 5.11

          	
            Further Assurances

          	
            25

          
	 	
            Section 5.12

          	
            Table of Contents, Headings and Captions

          	
            25

          
	 	
            Section 5.13

          	
            No Recourse

          	
            25

          

    

    

    Annex A – Form of Joinder Agreement

    

    

    
      i

      
        

    

    AMENDED AND RESTATED STOCKHOLDERS AGREEMENT

     

    This AMENDED AND RESTATED STOCKHOLDERS AGREEMENT (as amended, supplemented or restated from time to time, this “Agreement”) is entered into as of September [  ], 2020 (the “Effective Date”),

      by and among (i) Thryv Holdings, Inc., a Delaware corporation (the “Company”), (ii) Mudrick Capital Management, L.P., a Delaware limited partnership (the “Mudrick Entity”), (iii) GoldenTree Asset Management LP, a Delaware limited
      partnership (the “GoldenTree Entity”), (iv) Paulson & Co. Inc., a Delaware corporation (the “Paulson Entity”), and (v) Cerberus Capital Management L.P., a Delaware limited partnership (the “Cerberus Entity”) and each of the
      other Affiliates (as defined below) of the foregoing that are signatories to this Agreement (each a “Stockholder” and collectively the “Stockholders”).

     

    RECITALS

     

    WHEREAS, the Company and the Stockholders are party to that certain Stockholders Agreement, dated July 29, 2016 (as amended, the “Original Agreement”).

     

    WHEREAS, in connection with the Company’s proposed Public Listing (as defined below), the Original Agreement will terminate in accordance with Section 3.13 of the Original Agreement, provided,
      that certain provisions will survive and the Stockholders and the Company now desire to amend and restate the Original Agreement in its entirety pursuant to Section 7.5 of the Original Agreement for the purpose of providing for certain surviving
      rights and obligations of the Company and the Stockholders upon and after the consummation of the Public Listing.

     

    NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, and
      intending to be legally bound, the parties hereby agree as follows:

     

    ARTICLE I

      

      DEFINITIONS

     

    Section 1.1       Certain Definitions.  As used in this Agreement, the following definitions shall apply:

     

    “5% Stockholder” means each Stockholder Group with an Aggregate Ownership of at least five percent (5%) of the issued and outstanding shares of Common Stock as of such date.

     

    “Affiliate” means, when used with reference to any specified Person, any other Person that directly or indirectly, through one (1) or more intermediaries, controls, is controlled by or is
      under common control with such specified Person and, in respect of any Stockholder, any investment fund, vehicle or holding company of which such Stockholder or any Affiliate of such Stockholder serves as the general partner, managing member or
      discretionary manager or advisor; provided, that none of the Company or its subsidiaries shall be deemed to be an Affiliate of the Stockholders; provided, further, that no portfolio company of any Stockholder or of any
      Affiliate of such Stockholder shall be considered an Affiliate of such Stockholder.

     

    
      
        

    

    
    “Aggregate Ownership” means, with respect to any Stockholder Group, the total number of shares of Common Stock Beneficially Owned, in the aggregate and without duplication, by such Stockholder
      Group as of the date of such calculation.

     

    “Agreement” has the meaning set forth in the Preamble.

     

    “Automatic Shelf Registration Statement” means an “automatic shelf registration statement” as defined in Rule 405 (or any successor rule then in effect) promulgated under the Securities Act.

     

    “Beneficially Owned” has the meaning set forth in Rule 13d-3 promulgated under the Exchange Act.

     

    “Board” means the board of directors of the Company.

     

    “Business Day” means a day other than a Saturday, Sunday or other day on which banks located in New York City, New York are authorized or required by law to close.

     

    “Bylaws” means the Second Amended and Restated Bylaws of the Company, as may be amended, modified or supplemented or amended and restated and in effect from time to time.

     

    “Cerberus” means Cerberus Capital Management L.P..

     

    “Cerberus Entity” has the meaning set forth in the Preamble.

     

    “Cerberus Parties” means Cerberus, the Cerberus Entity and their Affiliates, in each case so long as any such Cerberus Party (i) is managed, sponsored, controlled or advised by an investment
      fund affiliated with Cerberus and (ii) owns Company Securities.

     

    “Certificate of Incorporation” means the Fourth Amended and Restated Certificate of Incorporation of the Company, as may be amended, modified or supplemented or amended and restated and in
      effect from time to time, including any certificates of correction or amendment thereto that are filed with the Delaware Secretary of State.

     

    “Common Stock” means the common stock of the Company, par value $0.01 per share (or any successor of the Company by merger, consolidation or other reorganization) and any stock into which any
      such common stock shall have been changed or any stock resulting from any reclassification of any such common stock.

     

    “Company” has the meaning set forth in the Preamble.

     

    “Company Securities” means (i) the Common Stock and (ii) securities then convertible into, or exercisable or exchangeable for, Common Stock.

     

    “Demand Registration Notice” has the meaning set forth in Section 3.1(a).

     

    “Director” means any of the individuals elected to serve on the Board.

     

    “Director Nominee” has the meaning set forth in Section 2.1(b)(i).

     

    
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    “Effective Date” has the meaning set forth in the Preamble.

     

    “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor federal statute, and the rules and regulations of the SEC promulgated thereunder, all as the same shall
      be in effect from time to time.

     

    “FINRA” means the Financial Industry Regulatory Authority.

     

    “GoldenTree” means GoldenTree Asset Management LP.

     

    “GoldenTree Entity” has the meaning set forth in the Preamble.

     

    “GoldenTree Parties” means GoldenTree, the GoldenTree Entity and their Affiliates, in each case so long as any such GoldenTree Party (i) is managed, sponsored, controlled or advised by an
      investment fund affiliated with GoldenTree and (ii) owns Company Securities.

     

    “Governing Documents” means the Certificate of Incorporation and the Bylaws.

     

    “Initial Requesting Holder” means, with respect to any registration of Registrable Securities that is requested pursuant to Section 3.1(a), the Stockholder or Stockholders (as the case
      may be) who made the underlying Registration Demand.

     

    “Losses” has the meaning set forth in Section 3.7.

     

    “Mudrick” means Mudrick Capital Management, L.P..

     

    “Mudrick Parties” means Mudrick, the Mudrick Entity and their Affiliates, in each case so long as any such Mudrick Party (i) is managed, sponsored, controlled or advised by an investment fund
      affiliated with Mudrick and (ii) owns Company Securities.

     

    “Necessary Action” means, with respect to a specified result, all actions (to the extent such actions are permitted by law and by the Governing Documents) necessary to cause such result,
      including (i) voting or providing a written consent or proxy with respect to the Company Securities, (ii) causing the adoption of shareholders’ resolutions and amendments to the Governing Documents, (iii) executing agreements and instruments, and
      (iv) making, or causing to be made, with governmental, administrative or regulatory authorities, all filings, registrations or similar actions that are required to achieve such result.

     

    “Nominating Stockholder Group” has the meaning set forth in Section 2.1(b).

     

    “Original Agreement” has the meaning set forth in the Recitals.

     

    “Paulson” means Paulson & Co. Inc.

     

    “Paulson Entity” has the meaning set forth in the Preamble.

     

    “Paulson Parties” means Paulson, the Paulson Entity and their Affiliates, in each case so long as any such Paulson Party (i) is managed, sponsored, controlled or advised by an investment fund
      affiliated with Paulson and (ii) owns Company Securities.

     

    
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    “Person” means an individual, a corporation, a partnership, a limited liability company, a trust, an incorporated or unincorporated association, a joint venture, a joint stock company or any
      other legal entity or body, or a governmental agency or political subdivision thereof.

     

    “Piggyback Registration” means any proposed filing of a Registration Statement with respect to Company Securities that requires the Company to provide the Stockholders with a Piggyback
      Registration Notice.

     

    “Piggyback Registration Notice” has the meaning set forth in Section 3.2(a).

     

    “Piggyback Registration Request” has the meaning set forth in Section 3.2(a).

     

    “Public Offering” means any (a) Public Listing or (b) bona fide firm commitment underwritten sale of Common Stock to the public pursuant to an effective Registration Statement.

     

    “Public Listing” means the public listing of the shares of Common Stock pursuant to an effective Registration Statement in which the Company becomes required under the Exchange Act to file
      reports pursuant thereto.

     

    “Registrable Securities” means all shares of Common Stock issued by the Company to a Stockholder, any additional shares of Common Stock held by a Stockholder (including Common Stock acquired
      upon the exercise of any preemptive rights and upon exercise of options or settlement of other awards issued by the Company) and any additional securities issued or distributed by way of a dividend or other distribution in respect of any such shares
      of Common Stock; provided, that such Registrable Securities shall cease to be Registrable Securities (i) upon any sale pursuant to a Registration Statement or Rule 144 (or any successor provision) under the Securities Act and (ii) upon repurchase by
      the Company.

     

    “Registration Demand” has the meaning set forth in Section 3.1(a).

     

    “Registration Expenses” means any and all expenses incident to the performance of or compliance with Article III, including (i) the fees, disbursements and expenses of the Company’s
      counsel and accountants (including the expenses of any annual audit letters and “cold comfort” letters required or incidental to the performance of such obligations), (ii) the reasonable fees and disbursements of one (1) counsel for all of the
      Selling Holders, which counsel shall be selected by the Company and be reasonably acceptable to holders of a majority of the Registrable Securities to be registered on the Registration Statement, (iii) all expenses, including filing fees, in
      connection with the preparation, printing and filing of the Registration Statement, any free writing, preliminary prospectus or final prospectus, any other offering document and amendments and supplements thereto and the mailing and delivering of
      copies thereof to any underwriters and dealers, (iv) the cost of printing or producing any agreements among underwriters, underwriting agreements, any selling agreements and any other documents in connection with the offering, sale or delivery of the
      securities to be disposed of, (v) all expenses in connection with the qualification of the securities to be disposed of for offering and sale under state securities laws, (vi) the filing fees incidental to securing any required review by FINRA of the
      terms of the sale of the securities to be disposed of, (vii) transfer agents’ and registrars’ fees and expenses and the fees and expenses of any other agent or trustee appointed in connection with such offering, (viii) all security engraving and
      security printing expenses, (ix) all fees and expenses payable in connection with the listing of the securities on any national securities exchange and (x) all rating agency fees.

     

    
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    “Registration Request” has the meaning set forth in Section 3.1(a).

     

    “Registration Statement” means a registration statement under the Securities Act that is filed by the Company with the SEC for a public offering and sale of securities of the Company, other
      than a registration statement on Form S-8 or Form S-4 or any successor forms thereto.

     

    “Requesting Holder” means, with respect to any Registration Statement that is used to register Registrable Securities pursuant to Article III, any Stockholder who is an Initial
      Requesting Holder or timely submits a Registration Request pursuant to Section 3.1, or any Stockholder who timely submits a Piggyback Registration Request pursuant to Section 3.2.

     

    “Responsible Requesting Holder” has the meaning set forth in Section 3.4.

     

    “Rule 144” means Rule 144 under the Securities Act, and any successor rule or regulation hereafter adopted by the SEC.

     

    “SEC” means the United State Securities and Exchange Commission.

     

    “Securities Act” means the Securities Act of 1933, as amended, or any successor federal statute, and the rules and regulations of the SEC promulgated thereunder, all as the same shall be in
      effect from time to time.

     

    “Selling Holder” means, with respect to any Registration Statement that is used to register Registrable Securities pursuant to Article III, any Stockholder who Beneficially Owns
      Registrable Securities included in such Registration Statement.

     

    “Shelf Registration Statement” has the meaning set forth in Section 3.1(d)(i).

     

    “Stockholder(s)” has the meaning set forth in the Preamble.

     

    “Stockholder Group” means each of the Mudrick Parties, the GoldenTree Parties, the Paulson Parties and the Cerberus Parties, severally and not jointly.

     

    “Stock Exchange” means the New York Stock Exchange or other national securities exchange or interdealer quotation system on which the shares of Common Stock is at any time listed or quoted.

     

    “Underwriter’s Maximum Number” has the meaning set forth in Section 3.1(j).

     

    “Underwriting Agreement” has the meaning set forth in Section 3.6.

     

    “Well-Known Seasoned Issuer” means a “well-known seasoned issuer” as defined in Rule 405 promulgated under the Securities Act (or any successor rule
      then in effect).

     

    
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    Section 1.2     Interpretive Provisions.  The words “hereof”, “herein” and “hereunder” and words of like import used in this
      Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.  The captions herein are included for convenience of reference only and shall be ignored in the construction or interpretation hereof. 
      References to Articles and Sections are to Articles and Sections of this Agreement unless otherwise specified.  Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular.  Whenever the words
      “include”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”, whether or not they are in fact followed by those words or words of like import.  “Writing”, “written” and
      comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form.  References to any statute shall be deemed to refer to such statute as amended from time to time and to any rules or
      regulations promulgated thereunder.  References to any agreement or contract are to that agreement or contract as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms hereof and thereof.  References to
      any Person include the successors and permitted assigns of that Person.  References from or through any date mean, unless otherwise specified, from and including or through and including, respectively.  References in this Agreement to a number or
      percentage of shares, units or other equity interests shall take into account and give effect to any split, combination, dividend or recapitalization of such shares, units or other equity interests, as applicable.

     

    ARTICLE II

      

      CORPORATE GOVERNANCE

     

    Section 2.1       Board of Directors.

     

    (a)      Size.  As of the Effective Date, the total number of Directors on the Board shall be eight (8), which shall initially
      consist of the following individuals Joseph Walsh; Jason Mudrick; Amer Akhtar; Ryan O’Hara; Lauren Vaccarello; Heather Zynczak; Bonnie Kintzer and John Slater and shall thereafter be increased or decreased as determined by the Board from time to time
      in accordance with this Agreement and the Governing Documents.

     

    (b)      Composition.  Subject to Section 2.1(a), the composition of the Board shall be as follows:

     

    (i)              So long as the Aggregate Ownership of any one of the Mudrick Parties,
      GoldenTree Parties or Paulson Parties (each individually a “Nominating Stockholder Group”) each constitutes at least ten percent (10%) of the issued and outstanding shares of Common Stock, such Nominating Stockholder Group shall have the right
      to designate for nomination one (1) Director for every ten percent (10%) of the issued and outstanding shares of Common Stock that are held by such Nominating Stockholder Group as of the date of calculation (each such individual so designated, a “Director

        Nominee”).  For the avoidance of doubt, as of the Effective Date:

     

    A.          the Mudrick Parties shall have the right to designate five (5) Director Nominees for so long as the Aggregate Ownership of the Mudrick Parties shall
      constitute at least fifty percent (50%) of the issued and outstanding shares of Common Stock;

     

    
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    B.          the GoldenTree Parties shall have the right to designate one (1) Director Nominee for so long as the Aggregate Ownership of the GoldenTree Parties
      shall constitute at least ten percent (10%) of the issued and outstanding shares of Common Stock; and

     

    C.          the Paulson Parties shall have the right to designate one (1) Director Nominee for so long as the Aggregate Ownership of the Paulson Parties shall
      constitute at least ten percent (10%) of the issued and outstanding shares of Common Stock.

     

    provided, that, notwithstanding the foregoing, upon any date on which the Aggregate Ownership of any Nominating Stockholder Group falls below ten percent (10%) of the issued and outstanding
      shares of Common Stock, such Nominating Stockholder Group’s right to nominate any Directors to the Board shall automatically terminate and any subsequent increase in the Aggregate Ownership of such Nominating Stockholder Group to, or in excess of,
      ten percent (10%) shall not entitle such Nominating Stockholder Group to any rights under this Article II; and

     

    (ii)             other than as expressly set forth in this Agreement, each additional designee to the Board shall be filled as provided in the Governing Documents.

     

    (c)      Nominations.  With respect to any Director to be nominated by any Nominating Stockholder Group other than the initial
      Directors listed in Section 2.1(a), a Nominating Stockholder Group shall nominate its Director or Directors by delivering to the Company its written statement at least sixty (60) days prior to the annual meeting of the Company where such
      Nominating Stockholder Group is entitled to nominate its Director or Directors and setting forth such Director’s or Directors’ business address, telephone number, facsimile number and e-mail address; provided, that if a Nominating Stockholder Group
      shall fail to deliver such written notice, such Nominating Stockholder Group, shall be deemed to have nominated the Director(s) previously nominated (or designated pursuant to Section 2.1(a)) by such Nominating Stockholder Group who is/are
      currently serving on the Board.

     

    (d)      Company Obligations. The Company hereby agrees to take all Necessary Action to effectuate this Section 2.1 by
      (A) including the Director Nominees of each Nominating Stockholder Group nominated pursuant to this Section 2.1 as the nominees to the Board on each slate of nominees for election of the Board included in the Company’s annual meeting proxy
      statement (or consent solicitation or similar document), (B) recommending the election of such Director Nominees to the stockholders of the Company and (C) without limiting the foregoing, using its reasonable best efforts to cause such Director
      Nominees to be elected to the Board, including providing at least as high a level of support for the election of such Director Nominees as it provides to any other individual standing for election as a Director.

     

    (e)      Removal; Vacancies.

     

    (i)             In the event that a Nominating Stockholder Group has nominated less than the total number of Director Nominees that such Nominating Stockholder
      Group is entitled to nominate pursuant to this Section 2.1, such Nominating Stockholder Group shall have the right, at any time, to nominate such additional Director Nominees to which it is entitled, in which case the Nominating Stockholder
      Group and the Company shall take, or cause to be taken, all Necessary Action to (A) increase the size of the Board as required to enable the Nominating Stockholder Group to so nominate such additional Director Nominees and (B) appoint such additional
      Director Nominees of the Nominating Stockholder Group to such newly created directorships.

     

    
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    (ii)            If at any time the number of Director Nominees that a Nominating Stockholder Group is entitled to nominate pursuant to this Section 2.1 is
      less than the number of Director Nominees on the Board, such Nominating Stockholder Group shall cause the required number of Directors to (i) immediately offer to resign from the Board and the Board will consider whether to accept such resignation or
      (ii) if such Director has not resigned, will not stand for reelection on or prior to the Company’s next annual meeting of the stockholders at which Directors of the Board are to be elected.

     

    (iii)            If any Director previously nominated by a Nominating Stockholder Group dies or is unwilling or unable to serve as such or otherwise resigns from
      office, then the Nominating Stockholder Group who previously nominated such Director shall promptly nominate a successor to such Director, in accordance with this Section 2.1; but if none of the Nominating Stockholder Groups are entitled to
      fill such vacant Director position(s), such vacant Director position(s) shall be filled by the Board in accordance with the Governing Documents.

     

    (iv)            Except as set forth in this Section 2.1(e), (i) Directors shall serve until their resignation or removal or until their successor is
      nominated and elected and (ii) any other vacant Director position(s) shall be filled by the Board, or the Board shall nominate a replacement Director, in each case in accordance with the Governing Documents.

     

    ARTICLE III

      

      REGISTRATION RIGHTS

     

    Section 3.1       Demand Registration.

     

    (a)      Requests for Registration.  Subject to Section 3.1(b) and the other terms of this Article III, any 5%
      Stockholder shall have the right to, in each case, pursuant to Section 3.1(c) or Section 3.1(d), request the Company to effect the registration under and in accordance with the provisions of the Securities Act of the offering of all
      or any portion of the Registrable Securities Beneficially Owned by such 5% Stockholder, by submitting a written request of such registration and specifying the amount of Registrable Securities proposed to be registered and the intended method (or
      methods) and plan of disposition thereof, including whether such requested registration is to involve an underwritten offering (a “Registration Demand”).  The Company shall give prompt written notice thereof (a “Demand Registration Notice”)

      (and in any event within ten (10) Business Days from the date of receipt of such Registration Demand) to each of the other 5% Stockholders, each of whom shall be entitled to elect to include, subject to the terms and conditions set forth in this Article

        III, Registrable Securities Beneficially Owned by it in the Registration Statement to which a Demand Registration Notice relates, by submitting a written request to the Company (a “Registration Request”) within fifteen (15) days after
      the date of such Demand Registration Notice, specifying the number of Registrable Securities that such Initial Requesting Holder intends to dispose of pursuant to such Registration Statement.  Except as otherwise provided in this Agreement, the
      Company shall prepare and use its reasonable best efforts to file with the SEC, within ninety (90) days after the date of the applicable Registration Demand, a Registration Statement with respect to the following (in either case subject to Section

        3.1(j) if the Registrable Securities will be sold in an underwritten offering):  (i) all Registrable Securities of the Initial Requesting Holder included in such Registration Demand and (ii) all Registrable Securities that other Stockholders
      elect to include in such Registration Statement, pursuant to one (1) or more timely submitted Registration Requests.  Thereafter, the Company shall use its reasonable best efforts, in accordance with Section 3.5, to effect the registration of
      the offering of such Registrable Securities under the Securities Act and applicable state securities laws, for disposition in accordance with the intended method or methods of disposition stated in the underlying Registration Demand.  Subject to Section

        3.1(j), the Company may include in such Registration Statement such number of Registrable Securities as the Company proposes to offer and sell for its own account or the account of any other Person.

     

    
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    (b)     Limitation on Demand Registration.  Notwithstanding anything to the contrary in this Section 3.1, no 5%
      Stockholder may make a Registration Demand until the earliest to occur of (i) the six-month anniversary of the Company’s Public Listing and (ii) the date on which the Board approves the making of a Registration Demand pursuant to this Section 3.1,
      provided, that, notwithstanding the foregoing, no 5% Stockholder may make a Registration Demand pursuant to Section 3.1(c) if the Company is preparing or has a Shelf Registration Statement on file with the SEC in accordance with Section

        3.1(d).

     

    (c)      Form S-1 Registration.  Subject to the terms and conditions of this Article III, any 5% Stockholder, shall
      have the right to submit a Registration Demand to effect the registration on Form S-1 (or any successor form) of all or any portion of the Registrable Securities held by such Stockholders; provided, that the 5% Stockholders, shall,
      collectively, be limited to three (3) such Registration Demands.  Any registration pursuant to such a Registration Demand may, if so requested in the underlying Registration Demand, be a “shelf” registration for an offering of Registrable Securities
      on a continuous or delayed basis pursuant to Rule 415 under the Securities Act (or any successor rule that is subsequently adopted by the SEC).  For the avoidance of doubt, the Company shall not be required to effect a registration of Registrable
      Securities pursuant to this Section 3.1(c) if the Company is preparing or has a Shelf Registration Statement on file with the SEC in accordance with Section 3.1(d).

     

    (d)      Registration; Shelf Registration.

     

    (i)              Subject to the terms and conditions of this Article III, as soon as reasonably practicable after the Company
      is eligible to use Form S-3 (or any successor form) as a “shelf” registration on a continuous basis pursuant to Rule 415 under the Securities Act (or any successor rule that is subsequently adopted by the SEC) for the registration of all the
      Registrable Securities of the Stockholders for resale (a "Shelf Registration Statement"), the Company shall prepare and file with the SEC a Shelf Registration Statement and shall use its commercially reasonable efforts to cause the Shelf
      Registration Statement to be declared effective under the Securities Act as soon as practicable after filing.  The Company shall use its commercially reasonable efforts to keep such Shelf Registration Statement continuously effective until such date
      on which all Registrable Securities included in such Shelf Registration Statement have been sold pursuant to the Shelf Registration Statement or another Registration Statement is filed under the Securities Act.

     

    
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    (ii)             Further, upon the Company becoming a Well-Known Seasoned Issuer, (i) the Company shall give written notice to all of the 5% Stockholders as
      promptly as reasonably practicable, and such notice shall describe, in reasonable detail, the basis on which the Company has become a Well-Known Seasoned Issuer, and (ii) the Company shall, as promptly as practicable, register, under an Automatic
      Shelf Registration Statement, the sale of all of the Registrable Securities in accordance with the terms of this Agreement. The Company shall use commercially reasonable efforts to file such Automatic Shelf Registration Statement as promptly as
      practicable, but in no event later than ninety (90) days after it becomes a Well-Known Seasoned Issuer, and take commercially reasonable efforts to cause such Automatic Shelf Registration Statement to remain effective thereafter (subject to
      applicable securities laws).  Notwithstanding the foregoing, in the event that an effective Shelf Registration Statement or Automatic Shelf Registration Statement is not on file, each 5% Shareholder shall have the right, subject to terms and
      conditions of this Article III, to submit a Registration Demand pursuant to Section 3.1(c) or a Registration Demand for the Company to file a Shelf Registration.

     

    (e)     Delay for Disadvantageous Condition.  If, in connection with any requested or ongoing registration pursuant to a
      Registration Demand and in addition to any limitations set forth in Section 3.1(f), the Company provides a certificate to the Requesting Holders, signed by the Chief Executive Officer of the Company and stating that, in the good faith
      judgment of the Board, it would be materially detrimental to the Company or its Stockholders for such Registration Statement either to become effective or to remain effective for as long as such Registration Statement otherwise would be required to
      remain effective, or if the Company is prohibited by the terms of any applicable underwriting or securities purchase agreement, then the Company shall have the right to defer taking action with respect to such Registration Statement and any time
      periods with respect to filing or effectiveness thereof shall be tolled correspondingly; provided, however, that (i) the aggregate number of days in all such delay periods in any period of twelve (12) consecutive months shall not
      exceed one hundred and thirty five (135) days and (ii) at least thirty (30) days shall elapse between the termination of any delay period and the commencement of the immediately succeeding delay period.

     

    (f)      Limitation on Successive Registrations and Underwritten Offerings.  The Company shall not
      be required to effect a registration of Registrable Securities pursuant to Section 3.1(c) or Section 3.1(d) for a period of ninety (90) days immediately following the effective date of any Registration Statement filed pursuant to this
      Section 3.1 and in no event shall the Company be required to file more than three (3) Registration Statements pursuant to Section 3.1(d) during any twelve (12) month period.  Without limiting the foregoing, in addition, in no event
      shall the Company have the obligation to effect more than three (3) underwritten offerings pursuant to this Section 3.1, and, provided, further, the Company shall not be required to effect an underwritten offering if the Company
      determines in good faith with the consent a majority of the Board that pursuing an underwritten offering is not in the best interests of the Company.

     

    
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    (g)     Demand Withdrawal.  With respect to any registration requested pursuant to this Section 3.1, (i) the Initial
      Requesting Holder who submitted the underlying Registration Demand may withdraw such Registration Demand and (ii) any Requesting Holder may withdraw its Registrable Securities from such registration, in either case by providing written notice to the
      Company at any time (x) in the case of an underwritten offering, prior to the filing of the preliminary prospectus pursuant to such registration, and (y) in the case of non-underwritten offering, prior to the effective date of the Registration
      Statement relating to such Registration Demand.  If all of the Registrable Securities to be included in the registration pursuant to any Registration Demand are so withdrawn, then such Registration Demand shall be deemed withdrawn.  In the event of
      any such actual or deemed withdrawal of a Registration Demand, the Company shall cease all efforts to effect the registration of the Registrable Securities requested to be included in such registration, without liability to any Requesting Holder. 
      Such registration will be deemed to have been effected (including for purposes of Section 3.1(c) and Section 3.1(d), with respect to a Registration Demand made thereunder) unless (A) each Requesting Holder who has withdrawn its
      Registration Demand or has withdrawn all of its Registrable Securities from such registration has paid (or reimbursed the Company for), pursuant to Section 3.4, its pro rata share (based on a fraction, the numerator of which is the number of
      Registrable Securities that such Requesting Holder asked to be included in such withdrawn registration and the denominator of which is the aggregate number of Registrable Securities that all Requesting Holders, collectively, requested to be included
      in such withdrawn registration) of the Registration Expenses incurred by the Company in connection with such withdrawn registration; provided, that if any revocation was based on the Company’s failure to comply in any material respect with
      its obligations hereunder, such reimbursement of Registration Expenses shall not be required or (B) the withdrawal is made following the occurrence of a material adverse change in the business or financial condition of the Company that is made known
      to the Initial Requesting Holder after the date of the applicable Registration Demand, or (C) if the registration is interfered with by any stop order, injunction or other order or requirement of the SEC or other governmental agency or court for any
      reason other than a misrepresentation or omission by any Requesting Holder; provided, that if any such stop order, injunction, order or requirement is issued or imposed as a result of any misrepresentation or omission by any Requesting
      Holder(s), the Responsible Requesting Holder(s) shall be solely responsible for paying (or reimbursing the Company for) all of the Registration Expenses to be paid or reimbursed to the Company pursuant to Section 3.4.

     

    (h)     Effective Registration.  Notwithstanding anything to the contrary in this Agreement, except to the extent expressly set forth in Section
        3.1(g), a Registration Statement filed pursuant to this Section 3.1 shall not be deemed to have been requested or effected (including for purposes of Section 3.1(c) and Section 3.1(d), with respect to a Registration
      Demand made thereunder) unless it has been declared effective by the SEC and shall have remained effective for one hundred and eighty (180) days (excluding any periods of time during which such Registration Statement is tolled or suspended pursuant
      to Section 3.1(e) or Section 3.5(c)) or such shorter period as may be required to sell all Registrable Securities included in such Registration Statement; provided, that in the case of any registration of Registrable
      Securities that are intended to be offered on a continuous or delayed basis, such one hundred and eighty (180) day period shall be extended, if necessary, to keep the Registration Statement effective until all such Registrable Securities are sold. 
      In no event shall a registration be deemed to have been effected if (i) after the Registration Statement has been declared effective by the SEC, such registration is interfered with by any stop order, injunction or other order or requirement of the
      SEC or other governmental agency or court, for any reason other than a misrepresentation or an omission by any Requesting Holder and, as a result thereof, the Registrable Securities requested to be registered therein cannot be completely distributed
      in accordance with the plan of distribution set forth in such Registration Statement or (ii) the conditions to closing the sale of Registrable Securities specified in any purchase agreement or Underwriting Agreement, which agreement was entered into
      in connection with such registration for the purpose of distributing Registrable Securities in accordance with the plan of distribution set forth in the applicable Registration Statement, are not satisfied or waived other than solely by reason of
      some act or omission by any Requesting Holder.

     

    
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    (i)      Selection of Underwriters.  Subject to Section 3.1(f), any registration of Registrable Securities pursuant to this Section 3.1
      may, if so requested in the underlying Registration Demand by the 5% Stockholder, be effected as an underwritten offering, and in such event the Company shall have the right to select the managing underwriter or underwriters for the offering; provided,
      that such underwriter or underwriters shall be reasonably acceptable to the Requesting Holder(s).

     

    (j)      Priority.  If a registration under this Section 3.1 involves an underwritten offering and the managing
      underwriter(s) in its good faith judgment advises the Company that the number of Registrable Securities requested to be included in the Registration Statement by the Requesting Holders exceeds the number of securities that can be sold without
      adversely affecting the price, timing, distribution or sale of securities in the offering (the “Underwriter’s Maximum Number”), the Company shall be required to include in such Registration Statement only such number of securities as is equal
      to the Underwriter’s Maximum Number and the Company and the Requesting Holders shall participate in such offering in the following order of priority:

     

    (i)            First, the Company shall be obligated and required to include in the Registration Statement the number of Registrable Securities that the
      Requesting Holder(s) have requested to be included in the Registration Statement and that does not exceed the Underwriter’s Maximum Number; provided, that if there are multiple Requesting Holders, the Registrable Securities to be included in
      the Registration Statement shall be allocated among all such Requesting Holders in proportion, as nearly as practicable, to the respective number of Registrable Securities held by them on the date of the underlying Registration Demand.  If any
      Requesting Holder would thus be entitled to include more Registrable Securities than it requested to be registered, the excess shall be allocated among other Requesting Holders pro rata in the manner described in the preceding sentence.

     

    (ii)            Second, the Company shall be entitled to include in such Registration Statement such number of Registrable Securities as the Company
      proposes to offer and sell for its own account or the account of any other Person to the full extent of the remaining portion of the Underwriter’s Maximum Number.

     

    Section

        3.2       Piggyback Registration.

     

    (a)     Notice of Registrations.  In the event that the Company proposes to file a Registration Statement with respect to
      Registrable Securities (other than a Registration Statement (i) filed in connection with the Company’s initial Public Offering, (ii) filed pursuant to Section 3.1, or (iii) filed solely in connection with a dividend reinvestment plan or an
      employee benefit plan covering only officers or directors of the Company or its Affiliates, whether or not for sale for its own account, the Company shall provide each Stockholder with written notice of its intention to do so (a “Piggyback
        Registration Notice”) at least thirty (30) days prior to filing such Registration Statement.  Any Stockholder may elect to include Registrable Securities Beneficially Owned by it in the Registration Statement to which a Piggyback Registration
      Notice relates, by submitting a written request (a “Piggyback Registration Request”) to the Company within fifteen (15) days after the date of such Piggyback Registration Notice, specifying the number of Registrable Securities that such
      Stockholder intends to dispose of pursuant to such Registration Statement, and the intended method of disposition thereof.  The Company shall use its reasonable best efforts to effect the registration under the Securities Act of all Registrable
      Securities that Stockholders have requested, pursuant to timely submitted Piggyback Registration Requests, to be included in the Registration Statement to which the underlying Piggyback Registration Notice relates.

     

    
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    (b)     Withdrawal of Registration.  If, at any time after the Company provides a Piggyback Registration Notice and prior to the effective date of any
      Registration Statement filed in connection therewith, the Company shall determine for any reason not to register the Registrable Securities to which such Piggyback Registration Notice relates, the Company may, in its sole discretion, give the
      Requesting Holders written notice of such determination and thereupon shall be relieved of its obligation to register any Registrable Securities that the Requesting Holders requested to be registered pursuant to a Piggyback Registration Request
      delivered in response to such Piggyback Registration Notice.  Each Stockholder shall be permitted to withdraw all or any portion of the Registrable Securities of such Stockholder from a Piggyback Registration at any time prior to the effective date
      of such Piggyback Registration.

     

    (c)      Priority.  If a registration under this Section 3.2 involves an underwritten offering and the managing underwriter(s) in its good faith
      judgment advises the Company that the number of Registrable Securities requested to be included in the Registration Statement by the Requesting Holders exceeds the Underwriter’s Maximum Number, the Company shall be required to include in such
      Registration Statement only such number of Registrable Securities as is equal to the Underwriter’s Maximum Number and the Company and the Requesting Holders shall participate in such offering in the following order of priority:

     

    (i)             First, the Company shall be entitled to include in such Registration Statement the Registrable Securities that the Company proposes to
      offer and sell for its own account in such registration and that does not exceed the Underwriter’s Maximum Number.

     

    (ii)          Second, the Company shall be obligated and required to include in such Registration Statement that number of Registrable Securities that the
      Requesting Holders have, collectively, requested to be included in such offering, to the full extent of the remaining portion of the Underwriter’s Maximum Number; provided, that if such number of Registrable Securities exceeds the remaining
      portion of the Underwriter’s Maximum Number, the Registrable Securities to be included in such offering shall be allocated among all of the Requesting Holders, in proportion, as nearly as practicable, to the respective number of Registrable
      Securities held by them on the date of the underlying Piggyback Registration Notice.  If any Requesting Holder would thus be entitled to include more Registrable Securities than it requested to be registered, the excess shall be allocated among other
      Requesting Holders pro rata in the manner described in the preceding sentence.

     

    (iii)          Third, the Company shall be entitled to include in such Registration Statement that number of Registrable Securities that the Company
      proposes to offer and sell for the account of any other Person, to the full extent of any remaining portion of the Underwriter’s Maximum Number.

     

    
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    (d)      Not a Demand Registration.  No registration of Registrable Securities effected under this Section 3.2 shall relieve the Company of its
      obligation to effect any registration of Registrable Securities pursuant to Section 3.1.

     

    Section 3.3     Certain Information.  In connection with any request for registration pursuant to
      Section 3.1 or Section 3.2, each Selling Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such Registrable Securities as the Company
      shall reasonably request, to the extent required to complete the filing of such Registration Statement in accordance with applicable law (including the Securities Act and any state securities or “blue sky” laws).

     

    Section 3.4      Expenses.  Except as
      expressly provided otherwise in this Agreement, if the Company is required to effect the registration of any Registrable Securities pursuant to Section 3.1 or Section 3.2, the Company shall pay all Registration Expenses with respect
      to such registration; provided, that each Selling Holder shall bear its pro rata share, on the basis of the number of Registrable Securities sold in such registration, of all underwriting discounts, selling commissions and stock transfer
      taxes, and each such Selling Holder shall be responsible for any fees and expenses of any persons retained by such Selling Holder.  Notwithstanding the foregoing, in the event that any registration of Registrable Securities, as applicable, requested
      pursuant to Section 3.1 is withdrawn or deemed withdrawn pursuant to Section 3.1(g) and the Initial Requesting Holder(s) elects not to have such withdrawn registration counted as a registration under Section 3.1, the Initial
      Requesting Holder(s) and each Requesting Holder withdrawing all of its Registrable Securities shall pay (or reimburse the Company for) its pro rata share (in proportion to the number of Registrable Securities that it asked to be included in such
      withdrawn registration) of the Registration Expenses incurred by the Company with respect to such withdrawn registration.  The immediately preceding sentence shall not apply if such registration is withdrawn (i) as a result of information concerning
      the occurrence of a material adverse change in the business or financial condition of the Company that is made known to the Requesting Holders after the date on which such registration was requested, (ii) if the revocation of such Selling Holder’s
      request for registration is based on the Company’s failure to comply in any material respect with its obligations hereunder or (iii) if the registration is interfered with by any stop order, injunction or other order or requirement of the SEC or
      other governmental agency or court for any reason other than a misrepresentation or omission by any Requesting Holder; provided, that if any such stop order, injunction, order or requirement is issued or imposed as a result of any
      misrepresentation or omission by any Requesting Holder(s), such Requesting Holder(s) (each, a “Responsible Requesting Holder”) shall be solely responsible for paying (or reimbursing the Company for) all of the Registration Expenses incurred by
      the Company with respect to such withdrawn registration; provided, further, that if more than one (1) Responsible Requesting Holder is responsible for such payment or reimbursement of Registration Expenses, then each such Responsible
      Requesting Holder shall be responsible for its pro rata share of such Registration Expenses (for each Responsible Requesting Holder based on a fraction, the numerator of which is the number of Registrable Securities that such Responsible Requesting
      Holder asked to be included in such withdrawn registration and the denominator of which is the aggregate number of Registrable Securities that all Responsible Requesting Holder, collectively, asked to be included in such withdrawn registration).

     

    Section 3.5       Registration and Qualification.

     

    
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    (a)      In the event that the Company is required to effect the registration of any Registrable Securities pursuant to this Article III, the Company
      shall:

     

    (i)             use its reasonable best efforts to, as promptly as practicable, prepare, file and cause to become effective and remain effective a Registration
      Statement relating to such Registrable Securities;

     

    (ii)           prepare and file with the SEC such amendments (including post-effective amendments) and supplements to the Registration Statement for such
      Registrable Securities and the prospectus used in connection therewith as may be necessary to keep such Registration Statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all such Registrable
      Securities until such time as all of such Registrable Securities have been disposed of; provided, that the Company shall, as far in advance as practicable but at least five (5) Business Days prior to filing a Registration Statement or
      prospectus (or any amendment or supplement thereto), furnish to each Selling Holder, for their review, copies of such Registration Statement or prospectus (or amendment or supplement) as proposed to be filed (including, upon the request of such
      Selling Holder, documents to be incorporated by reference therein); provided, further, that each Selling Holder may request reasonable changes to such Registration Statement, prospectus, amendment or supplement (as the case may be)
      and the Company shall be required to comply therewith to the extent necessary to lawfully complete such filing or maintain the effectiveness of such Registration Statement;

     

    (iii)           furnish to each Selling Holder and each underwriter of such Registrable Securities such number of conformed copies of such Registration Statement
      and each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus included in such Registration Statement (including each preliminary prospectus and any summary prospectus), in conformity with
      the requirements of the Securities Act, such documents as are incorporated by reference in such Registration Statement or prospectus (including any amendments or supplements thereto), and such other documents as such Selling Holder or underwriter may
      reasonably request;

     

    (iv)           promptly notify each Selling Holder in writing of the effectiveness of the Registration Statement and of any stop order issued or threatened by the
      SEC with respect thereto, use its reasonable best efforts to prevent the entry of any such stop order that is threatened and promptly remove any such stop order that has been entered, and promptly notify each Selling Holder of such lifting or
      withdrawal of any such stop order;

     

    (v)            use its reasonable best efforts to (x) register or qualify all Registrable Securities covered by such Registration Statement under the securities
      or blue sky laws of such jurisdictions as may be reasonably requested by any Selling Holder or underwriter of such Registrable Securities and promptly notify the Selling Holders of the receipt of any notification with respect to the suspension of the
      qualification of Registrable Securities for sale or offer in any such jurisdiction and (y) obtain all appropriate registrations, permits and consents in connection with such registrations and qualifications, and do any and all other acts and things
      (including using reasonable best efforts to promptly remove any such suspension) necessary or advisable to enable the Selling Holders and underwriters to consummate the disposition of such Registrable Securities in such jurisdictions; provided,
      that the Company shall not be required to qualify to do business as a foreign corporation in any such jurisdiction where it is not so qualified, to consent to general service of process in any such jurisdiction or to amend its Governing Documents;

     

    
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    (vi)           in an underwritten offering, use its reasonable best efforts to furnish to each underwriter of such Registrable
      Securities (x) an opinion letter and negative assurance letter of counsel to the Company addressed to each such underwriter and dated the date of the closing under the Underwriting Agreement and (y) “cold comfort” letters dated the effective date of
      the Registration Statement (and brought down to the date of closing under the Underwriting Agreement) addressed to each underwriter and signed by the independent public accountants who have certified the Company’s financial statements included in
      such Registration Statement, in each such case covering substantially the same matters as are customarily covered in such opinions and cold comfort letters in connection with underwritten public offerings of securities;

     

    (vii)         not later than the effective date of the applicable Registration Statement, (x) retain a transfer agent and registrar (if the Company does not
      already have one), (y) obtain a CUSIP number for all Registrable Securities included in such Registration Statement and (z) provide the applicable transfer agent with printed certificates for the Registrable Securities which are in a form eligible
      for deposit with The Depository Trust Company or other applicable clearing agency;

     

    (viii)          in the case of an underwritten offering of such Registrable Securities cause its senior executive officers to participate in such customary “road
      show” presentations as may be reasonably requested by the managing underwriter, and to otherwise facilitate, cooperate with, and participate in each proposed offering of Registrable Securities pursuant to this Article III and customary
      selling efforts related thereto; and

     

    (ix)           otherwise use its reasonable best efforts to comply with all applicable securities laws, including the Securities Act, the Exchange Act, and state
      securities and “blue sky” laws.

     

    (b)      In the event that the Company delivers a prospectus covering Registrable Securities to the Selling Holders and such prospectus is subsequently amended to
      comply with the requirements of the Securities Act, the Company shall promptly notify each Selling Holder and may, in its discretion, request that the Selling Holders cease making offers of Registrable Securities and return to the Company all
      prospectuses in their possession.  In the event that the Company makes such a request each Selling Holder shall immediately cease making such offers and shall promptly return all such prospectuses.  The Company shall promptly provide the Selling
      Holders with revised prospectuses and each Selling Holder shall be free, following its receipt of such revised prospectuses, to resume making offers of the Registrable Securities.

     

    (c)      In the event that the Company determines, in its sole discretion, that it is advisable to suspend use of a prospectus
      included in a Registration Statement due to pending material developments or other events that have not yet been publicly disclosed and as to which the Company believes public disclosure would be detrimental to the Company, the Company shall direct
      the Selling Holders to discontinue sales of Registrable Securities pursuant to such prospectus, and each Selling Holder shall immediately so discontinue, until such Selling Holder has received copies of a supplemented or amended prospectus or until
      such Selling Holder is advised in writing by the Company that the then-current prospectus may be used and has received copies of any additional or supplemental filings that are incorporated or deemed incorporated by reference in such prospectus.  The
      Company shall promptly furnish to each Selling Holder copies of any such supplemented or amended prospectuses or additional or supplemental filings, as the case may be.  Notwithstanding anything to the contrary in this Agreement, the Company shall
      not exercise its rights under this Section 3.5(c) to suspend sales of Registrable Securities for a period in excess of one hundred and thirty five (135) days during any period of three hundred and sixty five (365) consecutive days.

     

    
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    Section 3.6      Underwriting; Due Diligence. 

      In the event of an underwritten offering of Registrable Securities pursuant to a registration requested under this Article III, the Company shall, if requested by the underwriters for such offering, enter into an underwriting agreement with
      such underwriters (an “Underwriting Agreement”).  Any such Underwriting Agreement shall contain such representations, warranties and covenants by the Company and such other terms and provisions as are customarily contained in underwriting
      agreements with respect to secondary distributions, and shall include indemnification and contribution provisions substantially to the effect and extent of those set forth in Section 3.7, and agreements as to the provision of opinions of
      counsel and accountants’ letters substantially to the effect and extent of those set forth in Section 3.5(a)(vi).  The Selling Holders on whose behalf such Registrable Securities are to be distributed by the underwriters shall enter into such
      Underwriting Agreement, which shall also contain such representations, warranties and indemnities by the Selling Holders as are customarily provided by selling stockholders in underwriting agreements with respect to secondary distributions.  With
      respect to any Underwriting Agreement:  (i) all of the conditions precedent to the obligations of the underwriters thereunder shall be conditions precedent to the obligations of the Selling Holders and (ii) no Selling Holder shall be required to make
      any representations or warranties to, or agreements with, the Company or the underwriters, other than customary representations, warranties or agreements generally made by selling stockholders in similar offerings.

     

    Section 3.7       Indemnification

        and Contribution.

     

    (a)     The Company’s Indemnification Obligations.  To the fullest extent permitted by law, the Company agrees to indemnify and hold harmless each Selling
      Holder, its Affiliates, and their respective directors, officers, members, managers, partners, employees, stockholders, agents, advisors, investment managers and any Person who “controls” such Selling Holder (within the meaning of Section 15 of the
      Securities Act), from and against any and all losses, claims, damages and liabilities, including any legal or other costs, fees and expenses reasonably incurred in connection with defending or investigating any such action or claim (collectively, “Losses”)

      insofar as such Losses are caused by (i) any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or amendment thereto, any free writing prospectus, any preliminary prospectus or prospectus (as
      amended or supplemented) relating to the Registrable Securities, (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (iii) any violation
      by the Company of any federal, state or common law rule or regulation applicable to the Company and relating to action required of or inaction by the Company in connection with such registration, except insofar as such Losses (x) relate to a
      transaction or sale made by a Selling Holder in violation of Section 3.5(c) or (y) are caused by any such untrue statement or omission or alleged untrue statement or omission that is based upon and in conformity with information relating to a
      Selling Holder which is furnished to the Company in writing by such Selling Holder expressly for use therein; provided, that clause (y) shall not apply to the extent that the Selling Holder has furnished in writing to the Company
      prior to the filing of such Registration Statement, free writing prospectus, preliminary prospectus, prospectus, amendment or supplement information expressly for use in such document which information corrected or made not misleading the information
      previously furnished to the Company by such Selling Holder, and the Company failed to include such information therein.

     

    
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    (b)     The Selling Holder’s Indemnification Obligations.  To the fullest extent permitted by law, each Selling Holder agrees to indemnify and hold
      harmless the Company, all Affiliates of the Company, each of their respective directors, officers, members, managers, partners, employees, stockholders, agents and advisors and each Person, if any, who “controls” (within the meaning of Section 15 of
      the Securities Act) the Company, from and against any and all Losses insofar as such Losses are caused by (i) any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or amendment thereto, any free
      writing prospectus, preliminary prospectus or prospectus (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto) relating to the Registrable Securities, or (ii) caused by any omission or alleged omission
      to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but in each case only with reference to information relating to such Selling Holder furnished in writing by or on behalf of
      such Selling Holder expressly for use in such Registration Statement, free writing prospectus, preliminary prospectus, prospectus, amendments or supplement; provided, that such Selling Holder shall not be liable in any such case to the extent
      that it has furnished in writing to the Company prior to the filing of any such Registration Statement, free writing prospectus, preliminary prospectus, prospectus, amendment or supplement information expressly for use in such document which
      information corrected or made not misleading the information previously furnished to the Company by such Selling Holder, and the Company failed to include such information therein.  Notwithstanding anything to the contrary in this Section 3.7,
      each Selling Holder’s indemnification obligations under this paragraph are several, and not joint and several, and shall not exceed, with respect to any given registration of Registrable Securities pursuant to this Article III, the amount of
      net proceeds received by such Selling Holder in connection with the offering of its Registrable Securities under such registration.

     

    (c)      Each party that is entitled to indemnification under paragraph (a) or (b) of this Section 3.7 shall,
      promptly after receipt of notice of a claim or action against such indemnified party in respect of which indemnity may be sought hereunder, notify the indemnifying party in writing of the claim or action and the indemnifying party shall assume the
      defense thereof, including the employment of counsel reasonably satisfactory to such indemnified party, and shall assume the payment of all fees and expenses; provided, that the failure of any indemnified party to so notify the indemnifying
      party shall not relieve the indemnifying party of its obligations hereunder except to the extent that the indemnifying party is materially prejudiced by such failure to notify.  In any such action, any indemnified party shall have the right to retain
      its own counsel, but the fees and expenses of such counsel shall be at the sole expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or (ii) in the
      reasonable judgment of such indemnified party, representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, in which case the fees and expenses of such counsel shall be at the
      sole expense of the indemnifying party; provided, that in the event that the Company, as indemnifying party, is required to pay expenses of separate legal counsel for any one (1) or more Selling Holders as indemnified party, a single counsel
      shall be designated in writing to the Company by the Selling Holder with the largest number of Registrable Securities included in such registration.  All such fees and expenses shall be reimbursed as they are incurred.  The indemnifying party shall
      not be liable for any settlement of any claim or action effected without its written consent, which consent shall not be unreasonably withheld or delayed, but if settled with such consent, or if there be a final judgment for the plaintiff, the
      indemnifying party shall indemnify and hold harmless such indemnified parties from and against any loss or liability (to the extent stated above) by reason of such settlement or judgment.  No indemnifying party shall, without the prior written
      consent of the indemnified party, effect any settlement of any pending or threatened claim or action in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party,
      unless such settlement includes an unconditional release of such indemnified party from all liability arising out of such proceeding and imposes no obligations on such indemnified party other than the payment of monetary damages (which damages will
      be paid by the indemnifying party hereunder).

     

    
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    (d)     If the indemnification provided for in this Section 3.7 shall for any reason be unavailable (other than in accordance with its terms) to an
      indemnified party in respect of any Losses referred to therein, then the indemnifying party shall, in lieu of indemnifying such indemnified party, contribute to the amount paid or payable by the indemnified party as a result of such Losses in such
      proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and the indemnified party on the other.  The relative fault shall be determined by reference to, among other things, whether the untrue or alleged
      untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or the indemnified party and the parties’ relative intent, knowledge, access to information and
      opportunity to correct or prevent such untrue statement or omission.  Notwithstanding anything to the contrary in this paragraph, (i) each Selling Holder’s contribution obligations under this paragraph are several, and not joint and several, and (ii)
      no indemnifying party (other than the Company) shall be required to contribute any amount in excess of the amount by which the net proceeds received by such indemnifying party from the sale of Registrable Securities in the offering to which the
      Losses relate exceed the amount of any damages which such indemnifying party has otherwise been required to pay by reason of such untrue statement or omission.  The parties to this Agreement agree that it would not be just and equitable if
      contribution pursuant to this paragraph were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in Section 3.7(c).  No Person who is guilty of
      fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) that results in Losses shall be entitled to contribution with respect to such Losses from any Person who is not guilty of such fraudulent misrepresentation.

     

    (e)     Indemnification and contribution similar to that specified in the preceding paragraphs of this Section 3.7 (with appropriate modifications) shall
      be given by the Company, the Selling Holders and the underwriters with respect to any required registration or other qualification of Registrable Securities under any state law or regulation or governmental authority.

     

    (f)      The obligations of the parties under this Section 3.7 shall be in addition to any liability which any party may otherwise have to any other
      party.  If indemnification is available under this Section 3.7, the indemnifying parties shall indemnify each indemnified party to the fullest extent permitted by applicable law and as provided in paragraphs (a) and (b) hereof
      without regard to the relative fault of said indemnifying parties or indemnified party.

     

    
      19

      
        

    

    (g)      The rights and obligations of the Company and the Selling Holders under this Section 3.7 shall survive the termination of this Agreement.

     

    Section 3.8      Rule 144 Information.  The Company hereby covenants and agrees it shall (a) file such periodic reports as it
      is required to file under the Exchange Act, and other applicable laws or rules, and thereafter shall timely file such information, documents and reports as may be required or prescribed under Section 13 or 15(d) (whichever is applicable) of the
      Exchange Act, and, (b) if the Company is not required to file such reports during any period, it will upon the reasonable request of any Stockholder make publicly available such information for so long as is necessary to permit such Stockholder to
      sell Registrable Securities pursuant to Rule 144 or Regulation S under the Securities Act, take such further action as any Stockholder may reasonably request, to the extent from time to time such action is necessary to permit such Stockholder to sell
      Registrable Securities pursuant to Rule 144 or Regulation S of the Securities Act, including without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 or Regulation S under the Securities Act.

     

    Section 3.9       Grant of Additional Registration Rights.  Except for the registration rights granted pursuant to this Article

        III, the Company shall not grant any registration rights with respect to shares of Common Stock to any other Person without the prior written consent of the majority of the then outstanding shares of Common Stock held by the Stockholder Groups
      unless such registration rights so granted do not materially affect the rights of the Stockholder Groups under this Agreement with respect to their priority in any Public Offering.

     

    Section 3.10     Holdback Agreement.  The Company and each 5% Stockholder (whether or not such
      Registrable Securities are included in a Registration Statement filed pursuant to Section 3.1 or Section 3.2) agree, if requested (pursuant to a timely written notice) by the lead or managing underwriter or underwriters in an
      underwritten offering, not to effect any public sale or distribution of any of the Registrable Securities, including a sale pursuant to Rule 144 (except as part of such underwritten offering), for a customary period (which period shall be the same
      for all applicable Stockholders and shall not be longer than one hundred and eighty (180) days in the case of the Company’s first Public Offering and ninety (90) days in the case of any other Public Offering, except to the extent required by FINRA
      regulations or applicable law), as reasonably determined by the lead or managing underwriter or underwriters in consultation with the Stockholders, after the closing date of the underwritten offering made pursuant to such Registration Statement; provided,
      that no 5% Stockholder shall be subject to any such restrictions unless (a) all such restrictions shall have been requested of, and shall be applicable to, all 5% Stockholders and (b) such underwriter(s) shall have obtained written holdback
      agreements from the Company, each executive officer of the Company and each other Person who has been granted registration rights by the Company.  No waiver of any such restrictions shall be effective with respect to any Stockholder unless such
      waiver applies uniformly to all such Stockholders.  Notwithstanding anything contained in this Section 3.10, all obligations of the Stockholders under this Section 3.10 shall terminate in the event that the Company or any underwriter
      terminates, releases or waives, in whole or in part, the holdback agreements with respect to the Company, any executive officer of the Company or any such other Person who has been granted registration rights by the Company, unless such termination,
      release or waiver also applies proportionally (based on their respective ownership of Registrable Securities relative to the number of Registrable Securities held by such executive officer or other Person) to each Stockholder.

     

    
      20

      
        

    

    Section 3.11          Termination.  All of the Company’s obligations to register Registrable Securities under Section 3.1
      and Section 3.2 shall terminate on the date on which the Stockholders cease to Beneficially Own any Registrable Securities.

     

    ARTICLE IV

      

      REPRESENTATIONS AND WARRANTIES

     

    Each of the parties hereto hereby represents and warrants, solely with respect to itself (and, in each case to the extent applicable in the case of parties who are natural persons), to each
      other party that:

     

    Section 4.1      Existence; Authority; Enforceability.  Such party has the power and authority to enter into this Agreement
      and to carry out its obligations hereunder.  Such party is duly organized and validly existing under the laws of its jurisdiction of organization, and the execution of this Agreement, and the performance of its obligations hereunder, have been
      authorized, and no other act or proceeding on its part is necessary to authorize the execution of this Agreement or the performance of its obligations hereunder.  This Agreement has been duly executed by it and constitutes its legal, valid and
      binding obligation, enforceable against it in accordance with its terms except as the same may be affected by bankruptcy, insolvency, moratorium or similar laws, or by legal or equitable principles relating to or limiting the rights of contracting
      parties generally.

     

    Section 4.2      Absence of Conflicts.  The execution and delivery by such party of this Agreement and the performance of its
      obligations hereunder does not (a) conflict with, or result in the breach of any provision of the constitutive documents of such party; (b) result in any violation, breach, conflict, default or event of default (or an event which with notice, lapse
      of time, or both, would constitute a default or event of default), or give rise to any right of acceleration or termination or any additional payment obligation, under the terms of any contract, agreement or permit to which such party is a party or
      by which such Party’s assets or operations are bound or affected; or (c) violate any law applicable to such party, except, in the case of clause (b), as would not have a material  adverse effect on such party’s ability to perform its obligations
      hereunder.

     

    Section 4.3      Consents.  Other than as has already been obtained, no consent, waiver, approval, authorization, exemption,
      registration, license or declaration is required to be made or obtained by such party in connection with the execution, delivery or performance of this Agreement, except in each case, as would not have a material adverse effect on such party’s
      ability to perform its obligations hereunder.

     

    
      21

      
        

    

    ARTICLE V

      

      GENERAL

     

    Section 5.1      Assignment.  The rights and obligations hereunder shall not be assignable without
      the prior written consent of the other parties hereto; provided, however, any party hereto, without the consent of any other party, may assign, in whole or in part, any of its rights hereunder to any Person who is an Affiliate of such
      party, if such assignee contemporaneously enters into a Joinder Agreement in the form attached hereto as Annex A.  Any attempted assignment of rights or obligations in violation of this Section 5.1 shall be null and void.

     

    Section 5.2       Term and Effectiveness.

     

    (a)      This Agreement shall become effective immediately prior to the consummation of the Public Listing.  This Agreement shall automatically terminate if the
      Public Listing is not consummated on or before the tenth (10th) Business Day following the date of this Agreement.

     

    (b)      Article II shall terminate as to any Nominating Stockholder Group when such Nominating Stockholder Group no longer
      Beneficially Owns at least ten percent (10%) of the then issued and outstanding shares of Common Stock.

     

    (c)      Subject to Section 5.2(b), this Agreement (other than this Article V) shall terminate with respect to any Stockholder on the date such
      Stockholder no longer holds Registrable Securities.

     

    (d)      Notwithstanding anything contained herein to the contrary, this Article V shall survive any termination of any provisions of this Agreement.

     

    (e)      The termination of any provision of this Agreement shall not relieve any party from any liability for the breach of its obligations under this Agreement
      prior to such termination.

     

    Section 5.3       Severability.  If any term or other provision of this Agreement is held to be invalid, illegal or incapable
      of being enforced by any rule of law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions is not affected in any
      manner materially adverse to any party.  Upon a determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original
      intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.

     

    Section 5.4       Entire Agreement; Amendment.

     

    
      22

      
        

    

    (a)      This Agreement sets forth the entire understanding and agreement between the parties with respect to the subject matter hereof and supersedes all prior
      agreements and understandings, including the Original Agreement, both oral and written, between the parties with respect to the subject matter of this Agreement.  This Agreement or any provision thereof may only be amended, modified or supplemented,
      and no provision in this Agreement may be waived, in whole or in part, by an instrument in writing signed by the Stockholders holding a majority of the then issued and outstanding shares of Common Stock, provided, however that (i) Article

        II may only be amended, modified, supplemented or waived with the consent of each Nominating Stockholder Group for so long as the Aggregate Ownership of such Nominating Stockholder Group constitutes at least ten percent (10%) of the outstanding
      shares of Common Stock, and (ii) the consent of a Stockholder will be required to effect any amendment, modification, supplement or waiver to the Agreement that would reasonably be expected to disproportionately affect such Stockholder that is
      material and adverse to such Stockholder as compared to any other Stockholder.

     

    (b)     No waiver of any breach of any of the terms of this Agreement shall be effective unless such waiver is expressly made in writing and executed and
      delivered by the party against whom such waiver is claimed.  The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed as a further or continuing waiver of such breach or as a waiver of any other
      or subsequent breach.  Except as otherwise expressly provided herein, no failure on the part of any party to exercise, and no delay in exercising, any right, power or remedy hereunder, or otherwise available in respect hereof at law or in equity,
      shall operate as a waiver thereof, nor shall any single or partial exercise of such right, power or remedy by such party preclude any other or further exercise thereof or the exercise of any other right, power or remedy.

     

    (c)      No waiver of a right under this Agreement shall be effective unless such waiver is expressly made in writing and executed and delivered by the party
      against whom such waiver is claimed.  The waiver of a right under this Agreement in a specified instance or in specified circumstances shall not operate or be construed as a waiver of such right in other instances or circumstances.

     

    (d)      Any nomination or other consent or action under this Agreement exercisable by the Mudrick Parties, and any waiver of a breach of, or waiver or consent to
      modification of, any right of the Mudrick Parties under this Agreement, may be exercised on their behalf by the Mudrick Entity; any nomination or consent right or action under this Agreement exercisable by the GoldenTree Parties, and any waiver of a
      breach of, or waiver or consent to modification of, any right of the GoldenTree Parties under this Agreement, may be exercised on their behalf by the GoldenTree Entity; any nomination or consent right or action under this Agreement exercisable by the
      Paulson Parties, and any waiver of a breach of, or waiver or consent to modification of, any right of the Paulson Parties under this Agreement, may be exercised on their behalf by the Paulson Entity; any consent right or action under this Agreement
      exercisable by the Cerberus Parties, and any waiver of a breach of, or waiver or consent to modification of, any right of the Cerberus Parties under this Agreement, may be exercised on their behalf by the Cerberus Entity.

     

    Section 5.5      Counterparts.  This Agreement may be executed in one or more counterparts, and by the different parties
      hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement.

     

    Section 5.6       Governing Law.  This Agreement shall be construed in accordance with and governed by the laws of the
      State of Delaware, without giving effect to any choice of law or conflict of law provision or rule that would cause the application of the laws of any jurisdiction other than the State of Delaware.

     

    
      23

      
        

    

    Section 5.7      Waiver of Jury Trial; Consent to Jurisdiction.  EACH OF THE PARTIES HERETO HEREBY
      IRREVOCABLY WAIVES TO THE FULLEST EXTENT PERMITTED BY LAW ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.  Each party hereby irrevocably
      submits to the exclusive jurisdiction of the federal courts located in the State of Delaware or the Delaware Court of Chancery for the purpose of adjudicating any dispute arising hereunder.  Each party hereby irrevocably and unconditionally waives
      and agrees not to plead or claim in any such court any objection to such jurisdiction, whether on the grounds of hardship, inconvenient forum or otherwise.  Each party further agrees that service of any process, summons, notice or document by U.S.
      registered mail to such party’s respective address set forth in Section 5.9 shall be effective service of process for any action, suit or proceeding with respect to any matters to which it has submitted to jurisdiction in this Section 5.7.

     

    Section 5.8      Specific Enforcement.  The parties hereto acknowledge that the remedies at law of the other parties for a
      breach or threatened breach of this Agreement would be inadequate and, in recognition of this fact, any party to this Agreement, without posting any bond, and in addition to all other remedies that may be available, shall be entitled to equitable
      relief in the form of specific performance, a temporary restraining order, a temporary or permanent injunction or any other equitable remedy that may then be available.

     

    Section 5.9      Notices.  All notices, requests and other communications to any party hereunder
      shall be in writing (including facsimile transmission and electronic mail (“e-mail”) transmission, so long as a receipt of such e-mail is requested and received by non-automated response).  All such notices, requests and other communications
      shall be delivered in person or sent by facsimile, e-mail or nationally recognized overnight courier and shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. on a Business Day in the place of
      receipt.  Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding Business Day in the place of receipt.  All such notices, requests and other communications to any party hereunder shall be
      given to such party as follows:

     

    If to the Company, to:

     

    Thryv Holdings, Inc.

      2200 W. Airfield Drive

    P.O. Box 619810

      DFW Airport, TX 75261

      Attention:  Lesley Bolger, Corporate Secretary

      Facsimile:  (877) 238-4973

      E-mail:       Lesley.Bolger@thryv.com

     

    
      24

      
        

    

    with a copy (which shall not constitute notice) to:

     

    Weil, Gotshal & Manges LLP

      767 Fifth Avenue

      New York, NY 10153

      Attention:   Brian Gingold

      Facsimile:  (212) 310-8007

      E-mail:       Brian.Gingold@weil.com

     

    If to any Stockholder:

     

    At such Person’s address for notice as set forth in the books and records of the Company, or, as to each of the foregoing, at such other address as shall be designated by a party in a written notice
      to other parties complying as to delivery with the terms of this Section 5.9.  All such notices, requests, demands and other communications shall, when mailed, telegraphed or sent, respectively, be effective (i) two (2) days after being
      deposited in the mail or (ii) one (1) day after being deposited with the express overnight courier service, respectively, addressed as aforesaid.

     

    Section 5.10    Binding Effect; Third Party Beneficiaries.  The provisions of this Agreement shall be binding upon and shall
      inure to the benefit of the parties hereto and their respective permitted successors and assigns.  Except as provided in Section 5.13, no provision of this Agreement is intended to confer any rights, benefits, remedies, obligations or
      liabilities hereunder upon any Person other than the parties hereto and their respective permitted successors and assigns.

     

    Section 5.11     Further Assurances.  The parties hereto will sign such further documents, cause such meetings to be held,
      resolutions passed, exercise their votes and do and perform and cause to be done such further acts and things necessary, proper or advisable in order to give full effect to this Agreement and every provision hereof.

     

    Section 5.12     Table of Contents, Headings and Captions.  The table of contents, headings, subheadings and captions
      contained in this Agreement are included for convenience of reference only, and in no way define, limit or describe the scope of this Agreement or the intent of any provision hereof.

     

    Section 5.13     No Recourse.  This Agreement may only be enforced against, and any claims or
      cause of action that may be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement may only be made against the entities that are expressly identified as parties hereto and no past,
      present or future Affiliate, director, officer, employee, incorporator, member, manager, partner, stockholder, controlling person, fiduciary, agent, attorney or representative of any party hereto, or any past, present or future Affiliate, director,
      officer, employee, incorporator, member, manager, partner, stockholder, controlling person, fiduciary, agent, attorney or representative of any of the foregoing shall have any liability for any obligations or liabilities of the parties to this
      Agreement or for any claim based on, in respect of, or by reason of, the transactions contemplated hereby.

     

    [Remainder of page intentionally left blank]

     

    
      25

      
        

    

    IN WITNESS WHEREOF, each of the parties hereto has caused this Stockholders Agreement to be executed by its duly authorized officers as of the day and year first above written.

     

    	 	
            THRYV HOLDINGS, INC.

          
	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

     

    

    
      
        [Signature Page to Amended and Restated Stockholders Agreement (Thryv Holdings, Inc.)]

      

       

      

    

    
      
        

    

    	 	
            Mudrick Parties

          
	 	 
	 	
            [MUDRICK ENTITY]

          
	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

     

    

    
      [Signature Page to Amended and Restated Stockholders Agreement (Thryv Holdings, Inc.)]

    

     

    

    
      
        

    

    	 	
            GoldenTree Parties

          
	 	 
	 	
            [GOLDENTREE ENTITY]

          
	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

     

    

    
      
        [Signature Page to Amended and Restated Stockholders Agreement (Thryv Holdings, Inc.)]

      

       

      

    

    
      
        

    

    	 	
            Paulson Parties

          
	 	 
	 	
            [PAULSON ENTITY]

          
	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

     

    

    
      [Signature Page to Amended and Restated Stockholders Agreement (Thryv Holdings, Inc.)]

    

     

    

    
      
        

    

    	 	
            Cerberus Parties

          
	 	 
	 	
            [CERBERUS ENTITY]

          
	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

     

    

    
      [Signature Page to Amended and Restated Stockholders Agreement (Thryv Holdings, Inc.)]

    

     

    

    
      
        

    

    Annex A

     

    FORM OF

      JOINDER AGREEMENT

     

    The undersigned is executing and delivering this Joinder Agreement pursuant to that certain Stockholders Agreement, dated as of September [  ], 2020 (as amended, restated, supplemented or otherwise modified in
      accordance with the terms thereof, the “Stockholders Agreement”) by and among (i) Thryv Holdings, Inc., a Delaware corporation (the “Company”), (ii) Mudrick Capital Management, L.P., a Delaware limited partnership (the “Mudrick
        Entity”), (iii) GoldenTree Asset Management LP, a Delaware limited partnership (the “GoldenTree Entity”), (iv) Paulson & Co. Inc., a Delaware corporation (the “Paulson Entity”), and (v) Cerberus Capital Management L.P., a
      Delaware limited partnership (the “Cerberus Entity”) and each of the other Affiliates of the foregoing that are signatories to the Agreement.  Capitalized terms used but not defined in this Joinder Agreement shall have the respective meanings
      ascribed to such terms in the Stockholders Agreement.

     

    By executing and delivering this Joinder Agreement to the Stockholders Agreement, the undersigned hereby adopts and approves the Stockholders Agreement and agrees, effective commencing on the date hereof and as a
      condition to the undersigned’s becoming the beneficial owner and/or transferee of Company Securities, to become a party as a Stockholder to, and to be bound by and comply with the provisions of, the Stockholders Agreement applicable to the
      Stockholders in the same manner as if the undersigned were an original signatory to the Stockholders Agreement.

     

    The undersigned acknowledges and agrees that Article V of the Stockholders Agreement is incorporated herein by reference, mutatis mutandis.

     

    
      [Annex A to Amended and Restated Stockholders Agreement (Thryv Holdings, Inc.)]

    

     

    

    
      
        

    

    Accordingly, the undersigned has executed and delivered this Joinder Agreement as of the _______ day of ______________, ______________.

     

     

    

    	 	
            (Signature of Transferee)

          
	 	 
	 	 
	 	
            (Print Name of Transferee)

          

    

    	 	
            Address:

          	 
	 	 	 
	 	 	 
	 	
            Telephone:

          	 
	 	
            Facsimile:

          	 
	 	
            Email:

          	 

     

    

    AGREED AND ACCEPTED

      as of the ____ day of ________, _________.

     

    	
            THRYV HOLDINGS, INC.

          
	 
	
            By:

          	 	 
	 	
            Name:

          	 
	 	
            Title:

          	 

    

    

    

    

    
      [Signature Page to Joinder to Amended and Restated Stockholders Agreement (Thryv Holdings, Inc.)]Exhibit 10.9

    

     

    

    THRYV HOLDINGS, INC.

  2020 INCENTIVE AWARD PLAN

  

  

  Adopted by the Board of Directors:  September 3, 2020

  Approved by the Company’s Stockholders:  September 3, 2020

  

  

  Effective Date: [_________], 20201

  

  

  1.           Purpose.  The purpose of this 2020 Incentive Award Plan (the “Plan”) is to aid Thryv Holdings, Inc., a Delaware corporation
    (together with its successors and assigns, the “Company”), in attracting, retaining, motivating and rewarding employees, non-employee directors and consultants of the Company and its subsidiaries and affiliates,
    to provide for equitable and competitive compensation opportunities, to recognize individual contributions and reward achievement of Company goals, and promote the creation of long-term value for stockholders by closely aligning the interests of
    Participants with those of stockholders.  The Plan authorizes stock-based and cash-based incentives for Participants.

   

  2.           Definitions.  In addition to the terms defined in Section 1 and elsewhere in the Plan, the following capitalized terms used in the Plan have the respective
    meanings set forth in this Section:

   

  (a)          “Affiliate” shall mean any entity that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common
    control with, the Company.  As used in this definition, “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of the Company, whether through ownership of voting securities,
    by contract or otherwise.

   

  (b)          “Award” means any Option, SAR, Restricted Stock, RSU, Bonus Stock, Dividend Equivalent, Other Stock-Based Award, or Performance Award granted to a
    Participant under the Plan, and may be a 409A Award or a Non-409A Award.

   

  (c)          “Beneficiary” means the legal representative of a Participant’s estate entitled by will or the laws of descent and distribution to receive the
    benefits under the Participant’s Award(s) upon the Participant’s death.

   

  (d)          “Board” means the Company’s Board of Directors.

   

  (e)          “Bonus Stock” means Stock granted under Section 6(f).

  

  

  	1.	
          NTD:  To be date on which the Form 8-A in connection with the Company’s direct listing becomes effective.

        

   

  

  
    
      

    2

  

  
  (f)          “Cause”  means, with respect to a particular Participant, the definition ascribed to such term in the Participant’s award agreement, or in the absence
    of such a definition, in a written employment agreement between the Participant and the Company (or other member of the Group), or in absence of either such definition, “Cause” shall mean a termination of a Participant’s Continuous Service due to (i)
    the commission of, or plea of guilty or no contest to, a felony or a crime involving moral turpitude or the commission of any other act involving willful malfeasance or material fiduciary breach with respect to any member of the Group; (ii) conduct
    that brings or is reasonably likely to bring any member of the Group negative publicity or into public disgrace, embarrassment or disrepute; (iii) gross negligence or willful misconduct with respect to any member of the Group; (iv) material violation
    of state or federal securities laws; (v) the performance of Participant’s duties in an unsatisfactory manner after written warning and a ten (10) day opportunity to cure; (vi) material violation of the Company’s written policies or codes of conduct,
    including written policies related to discrimination, harassment, performance of illegal or unethical activities and ethical misconduct; or (vii) any material breach of a written agreement between Participant and any member of the Group, including
    without limitation a material breach of any employment, confidentiality, non-compete, non-solicit or similar agreement.  A termination for “Cause” will include any resignation in anticipation of discharge for “Cause” or accepted by the Company in lieu
    of a formal discharge for “Cause.”

   

  (g)          “Change in Control” means the occurrence of any one or more of the following events:

   

  (i)          any “person” as defined in Section 3(a)(9) of the Exchange Act, and as used in Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d) of the Exchange Act, but
    excluding the Company or any Subsidiary or Affiliate, any employee benefit plan sponsored or maintained by the Company or any Subsidiary or Affiliate (including any trustee of such plan acting as trustee) and any Permitted Holder (as defined below),
    directly or indirectly, becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) of securities of the Company representing more than 50% of the combined voting power of the Company’s then-outstanding securities, other than in
    connection with a merger, consolidation, recapitalization or reorganization of the Company;

   

  (ii)          the consummation of a merger, consolidation, recapitalization, or reorganization of the Company, or a reverse stock split of any class of voting securities of the Company, other than any
    such transaction that would result in at least 50% of the total voting power represented by the voting securities of the Company or the surviving entity outstanding immediately after such transaction being beneficially owned in approximately the same
    proportion by persons who together beneficially owned at least 50% of the combined voting power of the voting securities of the Company outstanding immediately prior to such transaction; provided that, for purposes of this Section 2(g)(ii),
    such continuity of ownership (and preservation of relative voting power) shall be deemed to be satisfied if the failure to meet such 50% threshold is due solely to the acquisition of voting securities by the Company or such surviving entity or any
    Subsidiary or Affiliate of the Company or such surviving entity, by an employee benefit plan of the Company or such surviving entity or of any Subsidiary or Affiliate of the Company or such surviving entity, or by any Permitted Holder; or

   

  

  (iii)        the stockholders of the Company approve a plan of complete liquidation of the Company, or the consummation of a sale or disposition by the Company of all or substantially all of its assets
    (or any transaction having a similar effect) unless at least 50% of the total voting power represented by the voting securities of the acquiring company outstanding immediately after such transaction are beneficially owned in approximately the same
    proportion by persons who together beneficially owned at least 50% of the combined voting power of the voting securities of the Company outstanding immediately prior to such transaction; provided that, for purposes of this Section 2(g)(iii),
    such continuity of ownership (and preservation of relative voting power) shall be deemed to be satisfied if the failure to meet such 50% threshold is due solely to the acquisition of voting securities by the Company or such acquiring company or any
    Subsidiary or Affiliate of the Company or such acquiring company, by an employee benefit plan of the Company or such acquiring company or of any Subsidiary or Affiliate of the Company or such acquiring company, or by any Permitted Holder. 

   

  

  
    
      

    3

  

  
    “Permitted Holder” shall mean Mudrick Capital Management L.P., Verto Direct Opportunity LP, Boston Patriot Battery March St. LLC, P Mudrick LTD, Mudrick Distressed Opportunity
      Drawdown Fund LP, , Mudrick Distressed Opportunity Specialty Fund LP, Blackwell Partners LLC – Series A, Mudrick Distressed Opportunity Fund Global LP, Paulson Credit Opportunities Master LTD, Paulson & Co. Inc., Paulson Credit Opportunities
      Master LTD, Goldentree Distressed Master Fund 2014 LTD, Goldentree 2004 Trust, Goldentree Master Fund LTD, San Bernardino County Employees Retirement Association, GN3 SIP Limited, GT NM LP, Goldentree VI Master Fund LP, State Street Cayman Trust
      Company LTD TR UA 02/12/2017 High Yield and Bank Loan Series Trust, GTAM TS Investment LLC, Goldentree Insurance Fund Serios Interests of the Sali Multi-Series Fund LP, Crown Managed Accounts SPC, Louisiana State Employees Retirement System, and
      their respective affiliates.

  

   

  Notwithstanding the foregoing, with respect to any Award which constitutes “nonqualified deferred compensation” under, and subject to, Code Section 409A, to the extent necessary to comply with the requirements of Code
    Section 409A, the term “Change in Control” shall mean an occurrence that both (x) satisfies the requirements set forth above in the definition of “Change in Control”, and (y) is a “change in control event” as that term is defined in Treasury Regulation
    §1.409A-3(i)(5).

   

  The Administrator shall have full and final authority, which shall be exercised in its sole discretion, to determine conclusively whether a Change in Control has occurred pursuant to the above definition, the date of the
    occurrence of such Change in Control and any incidental matters relating thereto; provided, that any exercise of authority in conjunction with a determination of whether a Change in Control is a “change in control event” as defined in Treasury
    Regulation §1.409A-3(i)(5) shall be consistent with such regulation.

   

  (h)          “Code” means the Internal Revenue Code of 1986, as amended.  Reference to any Code provision includes any regulation thereunder and any successor
    provisions and regulations, and reference to regulations includes any applicable guidance or pronouncement of the Department of the Treasury and/or Internal Revenue Service.

   

  

  (i)          “Committee” means the Compensation Committee of the Board, the composition and governance of which is subject to applicable NASDAQ “independence”
    standards and any other applicable listing requirements and the Company’s corporate governance documents.  Unless otherwise determined by the Board, the Compensation Committee shall consist of two or more Qualified Members.  At any time that a member
    of the Compensation Committee is not a Qualified Member, any action of the Committee relating to an Award granted to a Participant who is then subject to Section 16 of the Exchange Act in respect of the Company, may be taken either by (i) a
    subcommittee of the Compensation Committee, as designated by the Board, comprised solely of two or more Qualified Members, or (ii) if no such subcommittee is so designated, the entire Board.  No Committee action shall be void or deemed to be without
    authority due to the failure of any member, at the time the action was taken, to meet any applicable qualification standard.  Notwithstanding the foregoing, with respect to Awards to Non-Employee Directors, the Committee means the entire Board. 

   

  

  
    
      

    4

  

  (j)          “Consultant” means any consultant or advisor engaged to provide services to any member of the Group who qualifies as a consultant or advisor under the
    applicable rules of the Securities and Exchange Commission for registration of shares on Form S-8 Registration Statement.

   

  (k)          “Continuous Service” means that the Participant’s service with the Group, whether as an Employee, Director or Consultant, is not interrupted or
    terminated.  A change in the capacity in which the Participant renders service to the Group as an Employee, Consultant or Director or a change in the entity for which the Participant renders such service, provided that there is no interruption or
    termination of the Participant’s service with the Group, will not terminate a Participant’s Continuous Service; provided, however, that if the entity for which a Participant is rendering services
    ceases to qualify as an Affiliate, as determined by the Committee, in its sole discretion, such Participant’s Continuous Service will be considered to have terminated on the date such entity ceases to qualify as an Affiliate.  To the extent permitted
    by law, the Committee or its delegate, in its sole discretion, may determine whether Continuous Service will be considered interrupted in the case of any leave of absence approved by that party, including sick leave, military leave or any other
    personal leave.

   

  (l)          “Director” means a member of the Board.

   

  (m)         “Disability” means, with respect to a particular Participant, the definition ascribed to such term in the Participant’s award agreement, or in the
    absence of such a definition, in a written employment agreement between the Participant and the Company (or other member of the Group), or in absence of either such definition, “Disability” shall mean that the Participant is unable to engage in any
    substantial gainful activity by reason of any medically determinable physical or mental impairment; provided, however, that in the case of ISOs, the term Disability shall have the meaning ascribed to it in Code Section 22(e)(3).  The
    determination of whether an individual has a Disability shall be determined under procedures established by the Committee.  Except in situations where the Committee is determining Disability for purposes of the term of an ISO, the Committee may rely on
    any determination that a Participant is disabled for purposes of benefits under any long-term disability plan maintained by the Company or any of its Subsidiaries or Affiliates in which a Participant participates.

   

  

  
    (n)          “Dividend Equivalent” means a right, granted under this Plan, to receive cash, Stock, other Awards or other property equal in value to all or a
      specified portion of the dividends paid with respect to a specified number of shares of Stock.

     

    (o)          “Effective Date” means the effective date specified in Section 9(q).

     

    (p)          “Employee” means any person employed by any member of the Group, with the status of employment determined pursuant to such factor(s) as are deemed
      appropriate by the Committee in its sole discretion, subject to any requirements of applicable law, including the Code; provided, that for purposes of determining eligibility to receive an ISO, an Employee shall mean an employee of the
      Company or a “parent corporation” or “subsidiary corporation” within the meaning of Code Sections 424(e) and 424(f), respectively.  Service as a Director or payment by any member of the Group of a Director’s fees shall not be sufficient to constitute
      “employment” of such Director by any member of the Group.

     

  

  
    
      

    5

  

  (q)          “Exchange Act” means the Securities Exchange Act of 1934, as amended. References to any provision of the Exchange Act or rule thereunder shall include
    any successor provisions and rules.

   

  (r)          “Fair Market Value” means, as of any date, the value of Stock as
    determined below.

   

  (i)          If the Stock is traded on any established stock exchange or a national market system (including without limitation, the New York Stock Exchange or the Nasdaq Stock Market), the Fair Market
    Value shall be the closing price of a share of Stock (of if no sales were reported, the closing price on the nearest trading date immediately preceding such date) as quoted on such exchange or system on the date of determination, as reported in The Wall Street Journal or such other source as the Committee deems reliable.

   

  (ii)         If the Stock is not traded on an established stock exchange or national market system, but the Stock is regularly quoted by a recognized securities dealer, the Fair Market Value shall be the
    mean of the high bid and low asked prices for such date or, if there are no high bid and low ask prices for a share of Stock on such date, the high bid and low asked prices for a share of Stock on the last preceding date for which such information
    exists,  as reported in The Wall Street Journal or such other source as the Committee deems reliable.

   

  (iii)        If the Stock is neither traded on any established stock exchange or national market system nor regularly quoted by a recognized securities dealer, the Fair Market Value shall be determined
    in good faith by the Committee or under procedures established be the Committee in a manner not inconsistent with Section 409A.

   

  Notwithstanding the foregoing, the Committee may, in its discretion, determine the Fair Market Value of a share of Stock in any other method consistent with the requirements of Code Section 409A and Treasury Regulation
    §1.409A-1(b)(5)(iv).  The Committee may vary its method of determination of the Fair Market Value as provided in this Section 2(r) for different purposes under the Plan to the extent consistent with the requirements of Code Section 409A.

   

  

  
    (s)          “409A Award” means an Award that constitutes a deferral of compensation under Code Section 409A.  “Non-409A Award”
      means an Award other than a 409A Award.

     

    (t)          “Greater than 10% Stockholder” means an individual then “owning” (within the meaning of Code Section 424(d)) more than ten percent (10%) of the
      combined voting power of all classes of stock of the Company or any “parent corporation” or “subsidiary corporation”, as defined in Code Sections 424(e) and 424(f), respectively.

     

    (u)          “Group” means the Company and its Subsidiaries and Affiliates, or any members of the Group, as the context requires.

     

    (v)          “Incentive Stock Option” or “ISO” means an Option which both is designated as an incentive stock option and
      qualifies as an incentive stock option within the meaning of Code Section 422.

  

   

  

  
    
      

    6

  

  (w)         “Non-Employee Director” means a Director who is not an Employee of any member of the Group, and who satisfies the requirements of a “non-employee
    director” within the meaning of Section 16 of the Exchange Act.

   

  (x)          “Option” means a right, granted under Section 6(b), to purchase Stock.

   

  (y)          “Other Stock-Based Award” means an Award granted under Section 6(h).

   

  (z)          “Participant” means a person who has been granted an Award under the Plan which remains outstanding, including a person who is no longer an Employee
    of any member of the Group or a Director of the Company.

   

  (aa)        “Performance Award” means a conditional right, granted under Sections 6(i) and 7, to receive cash, Stock or other Awards or payments.

   

  (bb)        “Qualified Member” means a member of the Compensation Committee who meets the definition of “non-employee director” under the provisions of Section
    16b-3 of the Exchange Act.

   

  (cc)        “Restricted Stock” means Stock granted under Section 6(d) which is subject to certain restrictions and to a risk of forfeiture.

   

  (dd)        “Restricted Stock Unit” or “RSU” means a right, granted under Section 6(e), to receive Stock (or the
    Fair Market Value thereof) at the end of a specified deferral period.

   

  (ee)        “Securities Act” means the Securities Act of 1933, as amended.  References to any provision of the Securities Act or rule thereunder shall include any
    successor provisions and rules.

   

  (ff)         “Stock” means the Company’s common stock, par value $0.01 per share, and any other equity securities of the Company that may be substituted or
    resubstituted for Stock pursuant to Section 9(d).

   

  

  
    (gg)        “Stock Appreciation Right” or “SAR” means a right granted under Section 6(c).

     

    (hh)        “Subsidiary” means any entity in an unbroken chain of entities beginning with the Company if each of the entities other than the last entity in the
      unbroken chain beneficially owns, at the time of the determination, securities or interests representing at least fifty percent (50%) of the total combined voting power of all classes of securities or interests in one of the other entities in such
      chain.  Notwithstanding the foregoing, in the case of an Incentive Stock Option or any determination related to an Incentive Stock Option, “Subsidiary” means a corporation that is a “subsidiary” of the Company within the meaning of Code Section
      424(f).

     

    3.           Administration.

     

    (a)          Authority of the Committee.  The Plan shall be administered by the Committee, which shall have full authority and discretion, in each case subject
      to and consistent with the provisions of the Plan,

  

   

  

  
    
      

    7

  

  (i)          to select the persons to whom Awards will be granted from among those eligible; to grant Awards;

   

  (ii)         to determine the type and number of Awards;

   

  (iii)        to determine the terms and conditions of Awards, including the dates on which Awards may be exercised and/or on which the risk of forfeiture or deferral period relating to Awards shall lapse
    or terminate, the acceleration of any such dates (to the extent such acceleration is either outside the scope of or permitted by Code Section 409A), the expiration date of any Award, and whether, to what extent, and under what circumstances an Award
    may be settled, or the exercise price of an Award may be paid, in cash, Stock, other Awards, or other property, and any performance criteria or performance goals applicable to an Award, and all other matters relating to Awards;

   

  (iv)        to prescribe Award documents evidencing or setting terms of Awards (which Award documents need not be identical for each Participant), amendments thereto, and rules and regulations for the
    administration of the Plan and amendments thereto;

   

  (v)         to determine the duration and purpose of leaves of absence which may be granted to a Participant without constituting an interruption or termination of the Participant’s Continuous Service
    for purposes of Awards granted under the Plan;

   

  (vi)        to construe and interpret the Plan, related administrative rules and Award documents, and to correct defects, supply omissions or reconcile inconsistencies therein; and

   

  (vii)       to make all other decisions and determinations as the Committee may deem necessary or advisable for the administration of the Plan.

   

  

  
    Decisions of the Committee with respect to the administration and interpretation of the Plan shall be final, conclusive, and binding upon all persons interested in the Plan, including stockholders of the Company,
      Participants, Beneficiaries, permitted transferees of Awards and any other persons claiming rights from or through a Participant.

     

    (b)          Manner of Exercise of Committee Authority.  The express grant of any specific power to the Committee, and the taking of any action by the Committee,
      shall not be construed as limiting any power or authority of the Committee.  The Committee may delegate to officers or employees of the Group, or committees thereof, the authority, subject to such terms as the Committee shall determine, to perform
      such functions, including administrative functions, as the Committee may determine, to the extent consistent with Rule 16b-3 under the Exchange Act, where applicable, and permitted by applicable law.

     

    (c)          Limitation of Liability.  The Board and Committee and each member thereof, and any person acting pursuant to authority delegated by the Board or
      Committee, shall be entitled, in good faith, to rely or act upon any report or other information furnished by any officer or employee of the Group, or the Company’s independent auditors, consultants or any other agents assisting in the administration
      of the Plan.  Board and Committee members, any person acting pursuant to authority delegated by the Board or Committee, and any officer or employee of the Group acting at the direction or on behalf of the Board or Committee or a delegee shall not be
      personally liable for any action or determination taken or made in good faith with respect to the Plan, and shall, to the extent permitted by law, be fully indemnified and protected by the Company with respect to any such action or determination.

     

    

  

  
    
      

    8

  

  4.           Stock Subject To Plan.

   

  (a)          Overall Number of Shares Available for Delivery.  The total number of shares of Stock reserved and available for delivery in connection with Awards
    under the Plan shall be equal to the sum of (i) 1,000,000 shares of Stock and (ii) any shares of Stock which as of the Effective Date are available for issuance under the Dex Media, Inc. 2016 Stock Incentive Plan, as amended (the “Prior Plan”), or are subject to awards under the Prior Plan which are forfeited or lapse unexercised and which following the Effective Date are not issued under the Prior Plan.  No more than 1,000,000 shares of Stock
    may be issued in the aggregate pursuant to the exercise of ISOs.  The total number of shares of Stock available under the Plan and the number of shares of Stock available for ISOs are subject to adjustment as provided in Section 9(d).  Any
    shares of Stock delivered under the Plan may consist of authorized and unissued shares or treasury shares.

   

  (b)          Replenishment Rules.   To the extent that an Award under the Plan is canceled, expired, forfeited, settled in cash, or otherwise terminated without
    delivery of shares to a Participant, the shares retained by or returned to the Company shall be available under the Plan.  Notwithstanding the foregoing, (i) any shares that are withheld from an Award or separately surrendered by a Participant in
    payment of the exercise price or taxes relating to an Award, (ii) any shares purchased by the Company in the open market using the proceeds from exercise of an Option, and (iii) any shares covered by a stock-settled SAR or other stock-settled Award
    that were not issued upon the settlement of the Award will not become available under the Plan.

   

  

  
    (c)          Reinvested Dividends.  The number of shares available for issuance under the Plan shall not be reduced to reflect any dividends or dividend
      equivalents that are reinvested into additional shares or credited as additional Restricted Stock, RSUs, or other Awards.

     

    (d)          Substitute Awards for Acquired Business.  Shares issued or issuable in connection with any Award granted in assumption of or in substitution for an
      award of a company or business acquired by the Company or the Group, or with which the Company or the Group combines, shall not be counted against the number of shares reserved under the Plan.

     

    5.           Eligibility.  The Committee shall have discretion to grant Awards under the Plan only to an individual who is (i) a Director, an Employee (including an executive
      officer), or a Consultant of the Group, or (ii) a person who has been offered employment by the Group, provided that any grant to a prospective Employee shall not be effective until such person has commenced employment with the Group; provided,
      that to the extent required to avoid accelerated taxation and/or tax penalties under Code Section 409A, an eligible recipient of an Option or a SAR means an individual who is a Director, Employee (including an executive officer) or a Consultant of
      the Group with respect to whom the Company is an “eligible issuer of service recipient stock” within the meaning of Code Section 409A.  An Employee on leave of absence may be considered as still in the employ of the Group for purposes of eligibility
      for participation in the Plan.  In addition to the persons referred to in the first sentence of this Section 5, holders of awards granted by a company or business acquired by the Company or the Group, or with which the Company or Group
      combines, are eligible for grants of Awards under the Plan in assumption of or substitution for such previously granted awards.

     

    

  

  
    
      

    9

  

  6.           Specific Terms Of Awards.

   

  (a)          General.  Awards may be granted on the terms and conditions set forth in this Section 6, subject to any additional requirements set forth in Section

      8.  In addition, the Committee may impose on any Award or the exercise thereof, at the date of grant or thereafter (subject to Sections 9(f) and 9(k)), such additional terms and conditions, not inconsistent with the provisions of the
    Plan, as the Committee shall determine.  The Committee shall retain full power and discretion with respect to any term or condition of an Award that is not mandatory under the Plan, subject to Section 9(k).  The Committee shall require the
    payment of lawful consideration for an Award to the extent necessary to satisfy the requirements of the State of Delaware, and may otherwise require payment of consideration for an Award except as limited by the Plan.

   

  (b)          Options.  The Committee is authorized to grant Options under the Plan on the following terms and conditions:

   

  (i)          Exercise Price.  The exercise price per share of Stock purchasable under an Option (including both ISOs and non-qualified Options) shall be determined
    by the Committee, provided that such exercise price shall be not less than the Fair Market Value of a share of Stock on the date of grant of such Option, except as provided in Section 8(a).  In addition, in the case of an ISO granted to
    a Greater Than 10% Stockholder, such price shall be not less than 110% of the Fair Market Value of a share of Stock on the date of grant of such ISO.

   

  

  
    (ii)         Option Term; Time and Method of Exercise.  The Committee shall determine the term of each Option, provided that in no event shall the term
      of any Option exceed a period of ten (10) years from the date of grant, and in the case of an ISO granted to a Greater Than 10% Stockholder, the term shall not exceed a period of five (5) years from the date of grant.  The Committee shall determine
      the time or times at which or the circumstances under which an Option may be exercised in whole or in part (including based on achievement of performance goals and/or future service requirements, subject to the minimum vesting requirements of Section

        8(d));  the methods by which such exercise price may be paid or deemed to be paid and the form of such payment (subject to any limitations imposed by Code Section 409A or other applicable law), including, without limitation, cash, Stock,
      withholding of Stock deliverable upon exercise (i.e., “net exercise”),  through broker-assisted “cashless exercise” arrangements, by delivery of other Awards or awards granted under other plans of the Company or the Group, or other property, or by
      any other method determined by the Committee; and the methods by or forms in which Stock will be delivered or deemed to be delivered to Participants upon Option exercise.   In addition, the Committee may provide that a Participant may exercise an
      Option in whole or in part prior to the full vesting of the Option in exchange for unvested shares of Restricted Stock with respect to any unvested portion of the Option so exercised (with shares of Restricted Stock acquired upon the exercise of any
      unvested portion of an Option subject to such terms and conditions as the Administrator shall determine).

     

    (iii)        ISOs.  The terms of any ISO granted under the Plan shall satisfy the requirements of Code Section 422.  The Committee may grant ISOs only to
      Employees of the Company, of the Company’s “parent corporations” or “subsidiary corporations” as defined in Code Sections 424(e) or 424(f), respectively.  No Greater Than 10% Stockholder may be granted an ISO unless such ISO conforms to the
      applicable provisions of Code Section 422.  To the extent that the aggregate fair market value of stock with respect to which ISOs are exercisable for the first time by a Participant during any calendar year under the Plan, and all other plans of the
      Company and any parent corporation or subsidiary corporation thereof (as defined in Code Sections 424(e) and (f), respectively), exceeds $100,000, the Options shall be treated as non-qualified Options to the extent required by Code Section 422.  Any
      Option designated as an ISO which fails to satisfy all the requirements of Code Section 422 shall be treated as a non-qualified Option.

     

    

  

  
    
      

    10

  

  (iv)        Termination of Continuous Service.  The Committee shall establish and set forth in the applicable award agreement the terms and conditions upon which
    an Option shall remain exercisable, if at all, following termination of Participant’s Continuous Service, which provisions may be waived or modified by the Committee at any time. To the extent that an award agreement does not specify the terms and
    conditions upon which an Option shall terminate upon termination of a Participant’s Continuous Service, the following provisions shall apply:

   

  (A)        General Provisions. If the Participant (or other person entitled to exercise the Option) does not exercise the Option to the extent so entitled within the time specified
    below, the Option shall terminate. In no event may any Option be exercised after the expiration date of the Option as set forth in the award agreement.

   

  

  
    (B)        Termination other than Upon Disability or Death or for Cause. In the event of termination of a Participant’s Continuous Service
      other than under the circumstances set forth in subsections (C) through (E) below, such Participant may exercise any outstanding Option at any time within ninety (90) days following such termination to the extent the Participant is vested in such
      Option (but in no event beyond the expiration date of the Option as set forth in the award agreement). The unvested portion of any outstanding Option held by such Participant shall immediately terminate upon the termination of the Participant’s
      Continuous Service.

     

    (C)        Disability. In the event of termination of a Participant’s Continuous
        Service as a result of his or her Disability, such Participant may exercise any outstanding Option at any time within six (6) months following such termination (but in no event beyond the expiration date of the Option as set forth in the
      award agreement) to the extent the Participant is vested in such Option. The unvested portion of any outstanding Option held by such Participant shall immediately terminate upon the termination of the Participant’s
        Continuous Service.

     

    (D)        Death. In the event of the death of a Participant during the period of
        Continuous Service since the date of grant of any outstanding Option, or within ninety (90) days following termination of such Participant’s Continuous Service (other than for Cause), the Option may be exercised by the Participant’s Beneficiary, at
        any time within six (6) months following the date of death or, if earlier, the date the Participant’s Continuous Service terminated (but in no event beyond the expiration date of the Option as set forth in the award agreement), but only to the extent the Participant is vested in such Option. The unvested portion of any outstanding Option held by such Participant shall immediately terminate upon the termination of the Participant’s Continuous
        Service.

     

      

  

  
    
      

    11

  

  (E)         Termination for Cause. In the event of termination of a
      Participant’s Continuous Service for Cause, any outstanding Option (including any vested portion thereof) held by such Participant shall immediately terminate in its entirety upon first notification to the Participant of termination of the
      Participant’s Continuous Service for Cause. If a Participant’s Continuous Service is suspended pending an investigation of whether the Participant’s Continuous Service will be terminated for Cause, all the Participant’s rights under any Option,
      including the right to exercise the Option, shall be suspended during the investigation period.

   

  (c)          Stock Appreciation Rights.  The Committee is authorized to grant SARs under the Plan on the following terms and conditions:

   

  (i)          Right to Payment.  A SAR shall confer on the Participant to whom it is granted a right to receive, upon exercise or settlement thereof, an amount
    payable in shares or cash equal to the excess of (A) the Fair Market Value of one share of Stock on the date of exercise over (B) the grant price of the SAR as determined by the Committee, provided that such grant price shall not be lower than
    the Fair Market Value of the Company’s Stock on the grant date (except as provided in Section 8(a)).

   

  

  
    (ii)         Other Terms.  The Committee shall determine the term of each SAR, provided that in no event shall the term of an SAR exceed a period of ten
      (10) years from the date of grant.  The Committee shall determine, at the date of grant or thereafter (subject to Sections 9(f) and 9(k)), the time or times at which and the circumstances under which a SAR may be exercised in whole or in part
      (including based on achievement of performance goals and/or future service requirements, subject to the minimum vesting requirements of Section 8(d)), the method of exercise, the time and method of settlement, the form of consideration
      payable in settlement (which may include cash, Stock, other property, or a combination thereof), and the method by or forms in which Stock will be delivered or deemed to be delivered to Participants.

     

    (iii)        Termination of Continuous Service.  The Committee shall establish and set forth in the applicable award agreement the terms and conditions upon
      which a SAR shall remain exercisable, if at all, following termination of Participant’s Continuous Service, which provisions may be waived or modified by the Committee at any time. To the extent that an award agreement does not specify the terms and
      conditions upon which a SAR shall terminate upon termination of a Participant’s Continuous Service, the following provisions shall apply:

     

    (A)        General Provisions. If the Participant (or other person entitled to exercise the SAR) does not exercise the SAR to the extent so entitled within the time specified
      below, the SAR shall terminate. In no event may any SAR be exercised after the expiration date of the SAR as set forth in the award agreement.

     

    (B)        Termination other than Upon Disability or Death or for Cause. In the event of termination of a Participant’s Continuous Service
      other than under the circumstances set forth in subsections (C) through (E) below, such Participant may exercise any outstanding SAR at any time within ninety (90) days following such termination to the extent the Participant is vested in such SAR
      (but in no event beyond the expiration date of the SAR as set forth in the award agreement). The unvested portion of any outstanding SAR held by such Participant shall immediately terminate upon the termination of the Participant’s Continuous
      Service.

     

    

  

  
    
      

    12

  

  (C)        Disability. In the event of termination of a Participant’s Continuous
      Service as a result of his or her Disability, such Participant may exercise any outstanding SAR at any time within six (6) months following such termination (but in no event beyond the expiration
    date of the SAR as set forth in the award agreement) to the extent the Participant is vested in such SAR. The unvested portion of any outstanding SAR held by such Participant shall immediately terminate upon the termination of the Participant’s Continuous Service.

   

  (D)        Death. In the event of the death of a Participant during the period of
      Continuous Service since the date of grant of any outstanding SAR, or within ninety (90) days following termination of such Participant’s Continuous Service (other than for Cause), the SAR may be exercised by the Participant’s Beneficiary, at any time within six (6) months following the date of death or, if earlier, the date the Participant’s Continuous Service terminated (but in no event beyond
    the expiration date of the SAR as set forth in the award agreement), but only to the extent the Participant is vested in such SAR. The unvested portion of any outstanding SAR
      held by such Participant shall immediately terminate upon the termination of the Participant’s Continuous Service.

   

    

  
    (E)         Termination for Cause. In the event of termination of a Participant’s Continuous Service for Cause, any outstanding SAR
        (including any vested portion thereof) held by such Participant shall immediately terminate in its entirety upon first notification to the Participant of termination of the Participant’s Continuous Service for Cause. If a Participant’s Continuous Service is suspended pending an investigation of whether the Participant’s Continuous Service will be terminated for Cause, all the Participant’s rights under any SAR, including the right to exercise the SAR, shall be suspended during the investigation
        period.

     

    (d)          Restricted Stock.  The Committee is authorized to grant Restricted Stock under the Plan on the following terms and conditions:

     

    (i)          Grant and Restrictions.  Restricted Stock shall be subject to such restrictions on transferability, risk of forfeiture and other restrictions, if
      any, as the Committee may impose (subject to the minimum vesting requirements of Section 8(d)), which restrictions may lapse separately or in combination at such times, under such circumstances (including based on achievement of performance
      goals and/or future service requirements), in such installments or otherwise and under such other circumstances as the Committee may determine at the date of grant or thereafter.  Except to the extent restricted under the terms of the Award document,
      a Participant granted Restricted Stock shall have all of the rights of a stockholder, including the right to vote the Restricted Stock and the right to receive dividends thereon (subject to any vesting, mandatory reinvestment or other requirement
      imposed by the Committee and further subject to the limitations on dividends imposed by Section 8(e)).

     

    

     

  
    
      

    13

  

  (ii)         Forfeiture.  Except as otherwise determined by the Committee (but subject to the minimum vesting requirements of Section 8(d)), upon
    termination of a Participant’s Continuous Service during the applicable restriction period, Restricted Stock that is at that time subject to restrictions shall be forfeited and reacquired by the Company; provided, that the Committee may
    provide, by rule or regulation or in any Award document, or may determine in any individual case, that restrictions or forfeiture conditions relating to Restricted Stock will lapse in whole or in part, including in the event of terminations resulting
    from specified causes (subject to the minimum vesting requirements of Section 8(d)).

   

  
    (iii)        Certificates for Stock.  Restricted Stock granted under the Plan may be evidenced in such manner as the Committee shall determine.  If certificates
      representing Restricted Stock are registered in the name of a Participant, the Committee may require that such certificates bear an appropriate legend referring to the terms, conditions and restrictions applicable to such Restricted Stock; that the
      Company retain physical possession of the certificates; and that the Participant deliver a stock power to the Company, endorsed in blank, relating to the Restricted Stock.

     

    (iv)        Dividends and Splits.  Subject to the limitations on dividends imposed by Section 8(e), the Committee may require that any dividends paid on
      a share of Restricted Stock shall be either (A) paid at the dividend payment date in cash, in kind, or in a number of shares of unrestricted Stock having a Fair Market Value equal to the amount of such dividends, or (B) automatically reinvested in
      additional Restricted Stock or held in kind, in either case subject to the same terms as applied to the original Restricted Stock to which it relates, or (C) deferred as to payment, either as a cash deferral or with the amount or value thereof
      automatically deemed reinvested in RSUs, other Awards or other investment vehicles (including cash equivalents bearing a fixed or formula rate of interest as determined by the Committee), subject to such terms as the Committee shall determine or
      permit a Participant to elect.  Unless otherwise determined by the Committee (subject to the limitations on dividends imposed by Section 8(e)), Stock distributed in connection with a Stock split or Stock dividend, and other property
      distributed as a dividend, shall be subject to restrictions and a risk of forfeiture to the same extent as the Restricted Stock with respect to which such Stock or other property has been distributed.

     

    (e)          Restricted Stock Units.  An RSU entitles the Participant to receive one share of Stock (or the Fair Market Value of a share) at a specified time. 
      The Committee is authorized to grant RSUs under the Plan on the following terms and conditions:

     

    (i)          Award and Restrictions.  Issuance of Stock or payment of the cash or other property to which the Participant is entitled under the RSU Award will
      occur upon expiration of the deferral period specified for such Award by the Committee (or, if permitted by the Committee, as elected by the Participant).  RSUs shall be subject to such restrictions on transferability, risk of forfeiture and other
      restrictions, if any, as the Committee may impose (subject to the minimum vesting requirements of Section 8(d)), which restrictions may lapse at the expiration of the deferral period or at earlier specified times (including based on
      achievement of performance goals and/or future service requirements), separately or in combination, in installments or otherwise, and under such other circumstances as the Committee may determine at the date of grant or thereafter.  RSUs may be
      satisfied by delivery of Stock, cash, other Awards, or other property, or a combination thereof, as determined by the Committee at the date of grant or thereafter. The time and/or circumstances of such delivery shall be determined by the Committee
      subject to any limitations imposed by Code Section 409A.

     

    

  

  
    
      

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  (ii)         Forfeiture.  Upon termination of a Participant’s Continuous Service during the portion of the deferral period to which forfeiture conditions apply
    (as provided in the Award document evidencing the RSUs), all RSUs that are at that time subject to such forfeiture conditions shall be forfeited; provided, that the Committee may provide, by rule or regulation or in an Award document, or may
    determine in any individual case, that restrictions or forfeiture conditions relating to RSUs will lapse in whole or in part, including in the event of terminations resulting from specified causes (subject to the minimum vesting requirements of Section

      8(d)).  Notwithstanding the foregoing, the Committee shall have no authority to shorten or lengthen the deferral period specified for an RSU Award except as permitted under Code Section 409A.

   

  

  
    (iii)        Dividend Equivalents.  Subject to the limitations on dividend equivalents imposed by Section 8(e), the Committee may determine whether or
      not an Award of RSUs shall entitle the Participant to receive Dividend Equivalents, and may require that Dividend Equivalents on the number of shares of Stock covered by an Award of RSUs shall be either (A) paid at the dividend payment date in cash
      or in shares of unrestricted Stock having a Fair Market Value equal to the amount of such dividends, or (B) deferred as to payment for such period as specified by the Committee, either as a cash deferral or with the amount or value thereof
      automatically deemed reinvested in additional RSUs, other Awards, or other investment vehicles (including cash equivalents bearing a fixed or formula rate of interest as determined by the Committee).  Unless otherwise determined by the Committee
      (subject to the limitations on dividend equivalents imposed by Section 8(e)), in the case of a dividend payable in Stock, the Dividend Equivalent on such dividend shall be credited as additional RSUs, which shall be subject to restrictions
      and a risk of forfeiture to the same extent as the RSUs with respect to which it was distributed and shall have the same deferral period as such RSUs.

     

    (f)          Bonus Stock.  The Committee is authorized to grant Stock as a bonus.  All Awards under this Section 6(f) shall be subject to such terms as
      shall be determined by the Committee (subject to the requirements of Sections 8(c), (d) and (e)).

     

    (g)          Dividend Equivalents.  The Committee is authorized to grant Dividend Equivalents under the Plan which may be awarded on a free-standing basis or in
      connection with another Award (other than an Option or SAR).  Subject to the limitations on dividends equivalents imposed by Section 8(e), the Committee may provide that Dividend Equivalents shall be paid or distributed when accrued or on a
      deferred basis (in each case subject to any limitations imposed by Code Section 409A).  Deferred amounts may be deferred as a fixed dollar amount or may be deemed to have been reinvested in additional Stock, Awards, or other investment vehicles
      (including cash equivalents bearing a fixed or formula rate of interest as designated by the Committee), and shall be subject to restrictions on transferability, risks of forfeiture and such other terms as the Committee may specify.

     

    (h)          Other Stock-Based Awards.  The Committee is authorized, subject to limitations under applicable law, to grant such other Awards that may be
      denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, Stock or factors that may influence the value of Stock, including, without limitation, convertible or exchangeable debt securities; other
      rights convertible or exchangeable into Stock; purchase rights for Stock; performance units or performance shares; Awards with value and payment contingent upon performance of the Company or business units thereof or any other factors designated by
      the Committee; and Awards valued by reference to the book value of Stock or the value of securities of (or the performance of) specified Subsidiaries or Affiliates or other business units.  The Committee shall determine the terms and conditions of
      such Awards (subject to Section 8).  Stock delivered pursuant to an Award in the nature of a purchase right granted under this Section 6(h) shall be purchased for such consideration, paid for at such times, by such methods, and in
      such forms, including, without limitation, cash, Stock, other Awards, notes, or other property, as the Committee shall determine (subject to Section 8).

     

  

  
    
      

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  (i)          Performance Awards.  Performance Awards, denominated in cash or in Stock or other Awards, may be granted by the Committee in accordance with Section

      7.

   

  

  
    (j)          Non-Employee Director Awards.

     

    (i)          Non-Employee Director Compensation Policy.  The Committee, in its sole discretion, may provide that Awards granted to Non-Employee Directors shall
      be granted pursuant to a written nondiscretionary formula established by the Committee (the “Non-Employee Director Compensation Policy”), subject to the limitations in the Plan, The Non-Employee Director
      Compensation Policy shall set forth the type of Award(s) to be granted to Non-Employee Directors, the number of shares of Stock to be subject to Non-Employee Director Awards, the conditions on which such Awards shall be granted, become exercisable
      and/or payable and expire, and such other terms and conditions as the Committee shall determine in its sole discretion.  The Non-Employee Director Compensation Policy may be modified by the Committee from time to time in its sole discretion and
      pursuant to the exercise of its business judgment, taking into account such factors, circumstances and considerations as it shall deem relevant from time to time.

     

    (ii)         Non-Employee Director Limit.  Notwithstanding any provision to the contrary in the Plan or in the Non-Employee Director Compensation Policy, the
      sum of the grant date fair value of Awards and any cash compensation or fees granted to a Non-Employee Director during any calendar year shall not exceed $1,000,000.  The Committee may make exceptions to this limit for individual Non-Employee
      Directors in extraordinary circumstances, as the Committee may determine in its discretion, provided, that the Non-Employee Director receiving such additional compensation may not participate in the decision to award such compensation or in
      other contemporaneous compensation decisions involving Non-Employee Directors.

     

    7.          Performance Awards.

     

    (a)          Performance Awards Generally.  Performance Awards may be denominated as a cash amount or a number of shares of Stock which will be earned, and/or a
      specified number of Awards which will be granted, upon achievement or satisfaction of performance conditions specified by the Committee over the length of any applicable performance period determined by the Committee.  In addition, the Committee may
      constitute any other Award as a Performance Award by conditioning the right of a Participant to exercise the Award or have it settled, and/or the vesting or timing thereof, upon achievement or satisfaction of such performance conditions as may be
      specified by the Committee.  The Committee may use such performance criteria and other measures of performance as it may deem appropriate in establishing any performance conditions (including, but not limited to, the criteria set forth in Section
        7(b)), and may exercise its discretion to reduce or increase the amounts payable under any Award subject to performance conditions.

     

    

  

  
    
      

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  (b)          Performance Criteria.  One or more of the following performance criteria for the Company, on a consolidated basis, and/or for specified Subsidiaries
    or Affiliates or other business units of the Company may be used by the Committee in establishing performance goals for Performance Awards:  pre- or after-tax net earnings, sales or revenue, operating earnings, EBITDA,  NIBIT (net income before
    interest and taxes), operating cash flow, return on net assets, return on shareholders’ equity, return on assets, return on capital, stock price growth, shareholder returns, gross or net profit margin, earnings per share, price per share, market share,
    or strategic business criteria consisting of one or more objectives based on meeting specified revenue goals, market penetration goals, geographic business expansion goals, cost targets, product development goals, compliance and regulatory goals, goals
    relating to acquisitions or divestitures, goals related to new technology, and/or any other objective measure derived from any of the foregoing criteria.  The performance goals may relate to the Participant’s business unit or the performance of the
    Company as a whole, or any combination of the foregoing.  Performance goals need not be uniform as among Participants.  The targeted level or levels of performance with respect to such performance criteria may be established at such levels and in such
    terms as the Committee may determine, in its discretion, including in absolute terms, in relation to one another, as a goal relative to performance in prior periods, or as a goal compared to the performance of one or more comparable companies or an
    index covering multiple companies.

   

  

  
    (c)          Determination of Achievement; Adjustments.  The Committee shall determine the extent to
      which a Performance Award has been earned in its sole discretion, including the manner of calculating the performance criteria and the measure of whether and to what degree any performance goals have been obtained.  The Committee is authorized to
      make adjustments in the terms and conditions of, and the criteria included in, Performance Awards (including the performance goals and amounts payable under Performance Awards) (i) in recognition of unusual or nonrecurring events (including, without
      limitation, events described in Section 9(d), acquisitions and dispositions of businesses and assets, litigation or claim judgments or settlements, extraordinary items, and specified non-recurring charges or credits) affecting the Company,
      any Subsidiary or Affiliate or other business unit, and/or (ii) in response to changes in applicable laws, regulations, accounting principles, or tax rates.

     

    8.          Certain General Provisions Applicable To Awards.

     

    (a)          Stand-Alone, Additional, Tandem, and Substitute Awards.  Awards granted under the Plan may, in the Committee’s discretion, be granted either alone
      or in addition to, in tandem with, or in substitution or exchange for, any other Award or any award granted under another plan of the Company or Group or any business entity to be acquired by the Company or Group, or any other right of a Participant
      to receive payment from the Company or Group, subject to any restrictions imposed by Code Section 409A.  If two Awards are granted in tandem, a Participant may receive the benefit of one Award only to the extent he or she relinquishes the tandem
      Award.  Awards granted in addition to or in tandem with other Awards or awards may be granted either at the same time as or at a different time from the grant of such other Awards or awards. Subject to any restrictions imposed by Code Sections 409A
      and/or 424, the Committee may grant substitute Awards in assumption of or in substitution for an outstanding award granted by a company or business acquired by the Company or Group, or with which the Company or Group combines, with an exercise price
      or grant price per share of Stock below Fair Market Value as it determines appropriate to preserve the economic value of any such outstanding assumed or substituted awards.

     

    (b)          Term of Awards.  The term of each Award shall be for such period as may be determined by the Committee, except that no Option or SAR shall have a
      term exceeding ten (10) years.

     

    

  

  
    
      

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  (c)          Form and Timing of Payment under Awards.

   

  (i)          Committee Discretion.  Subject to the terms of the Plan and any applicable Award document and to the extent permitted under Code Section 409A,
    payments to be made by the Company upon the exercise or settlement of an Award may be made in such forms as the Committee shall determine, including, without limitation, cash, Stock, other Awards or other property, and may be made in a single payment
    or transfer, in installments, or on a deferred basis.  The settlement of any Award may be accelerated, and/or cash may be paid in lieu of Stock in connection with such settlement, in the discretion of the Committee or upon occurrence of one or more
    specified events, subject to Section 8(d) and Section 9(k).  Subject to Section 9(k), the Committee may require installment or deferred payments (subject to Section 9(f)) or may permit a Participant to elect such
    payments (including extension of a deferral period) on terms and conditions established by the Committee.  Payments may include, without limitation, provisions for the payment or crediting of reasonable interest on installment or deferred payments or
    the grant or crediting of Dividend Equivalents or other amounts in respect of installment or deferred payments denominated in Stock.

   

  

  
    (ii)         Distribution upon Unforeseeable Emergency.  The Committee may provide in the Award document (but not after the date of the Award unless permitted
      under Code Section 409A) that in the event such Award is vested under the terms of the Award and no longer subject to a substantial risk of forfeiture, such Award shall be distributed to the Participant, upon application of the Participant, if the
      Participant has had an unforeseeable emergency within the meaning of Code Section 409A, subject to any restrictions on the timing or making of such distribution as may be imposed by the Committee in the Award document or by Code Section 409A.

     

    (d)          Minimum Vesting.  Notwithstanding any provision in the Plan to the contrary and except as otherwise provided in a written employment agreement
      between the Company (or other member of the Group) and a Participant as in effect on the Effective Date, no portion of any Award that is denominated by reference to a number of shares shall vest prior to the first (1st) anniversary of the date of
      grant of the Award, except that the Committee may provide, at the time of grant or thereafter, for earlier vesting in the event of a Participant’s Disability or death, or in the event of a Change in Control or other transaction described in Section

        9(d).  Notwithstanding the foregoing, up to 5% of the shares of Stock that are authorized for grant under the Plan may be granted with a minimum vesting schedule that is shorter than that mandated in in this Section 8(d).

     

    (e)          Limitation on Payment of Dividends and Dividend Equivalents.  Notwithstanding any provision in the Plan to the contrary, dividends or Dividend
      Equivalents otherwise payable on an unvested Award shall be accrued and be paid only at such time as the vesting conditions applicable to the underlying Award have been satisfied.

     

    (f)          Payment of Cash Awards.  Unless the Committee provides otherwise, where an Award is payable in cash, such Award shall be paid by the Subsidiary or
      Affiliate that employs the Participant, with the payment obligation guaranteed by the Company.

     

  

  
    
      

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  9.           General Provisions.

   

  (a)          Compliance with Legal and Other Requirements.  The
    Company may, to the extent deemed necessary or advisable by the Committee, postpone the issuance or delivery of Stock or payment of other benefits under any Award until completion of such (i) registration or qualification of such Stock or other
    required action under federal or state law, rule or regulation, (ii) listing or other required action with respect to any stock exchange or other market upon which the Stock or other securities of the Company are listed or quoted, or (iii) compliance
    with any other obligation of the Company, as the Committee may consider appropriate, and may require any Participant to make such representations, furnish such information, and comply with or be subject to such other conditions as it may consider
    appropriate in connection with the issuance or delivery of Stock or payment of other benefits in compliance with applicable laws, rules, regulations, listing requirements, or other obligations.  The application of this Section
    shall not extend the term of any Option or other Award.  The Company shall have no obligation to effect any registration or qualification of the Stock under federal or state laws
    or to compensate the Award holder for any loss caused by the implementation of this Section 9(a).

   

  
    (b)          Limits on Transferability.  No Award or other right or interest of a Participant under the Plan shall be pledged, hypothecated or otherwise
      encumbered or subject to any lien, obligation or liability of such Participant to any party (other than the Company or a Subsidiary or Affiliate thereof), or assigned or transferred by such Participant otherwise than by will or the laws of descent
      and distribution upon the death of a Participant, and such Awards or rights that may be exercisable shall be exercised during the lifetime of a Participant only by the Participant or his or her guardian or legal representative.  Notwithstanding the
      foregoing, if and to the extent permitted by the Committee (after taking into account applicable securities laws), Awards and other rights (other than ISOs and SARs in tandem therewith) may be transferred by a Participant to one or more transferees
      during the lifetime of the Participant, and may be exercised by such transferees in accordance with the terms of such Award, subject to any terms and conditions which the Committee may impose in connection with such transfer (including limitations on
      the permissible categories of transferees) (subject to the limitation that in no circumstances may an Award be transferred by a Participant for consideration or value).  A Beneficiary, transferee, or other person claiming any rights under the Plan
      from or through a Participant shall be subject to all terms and conditions of the Plan and any applicable Award document, except as otherwise determined by the Committee, and to any additional terms and conditions deemed necessary or appropriate by
      the Committee which are imposed by the Committee in connection with or as a condition to such transfer.  Notwithstanding anything in this Section 9(b) or otherwise in the Plan to the contrary, in no event may an Award granted under the Plan
      be transferred for consideration or value.

     

    (c)          Committee Authority.  Notwithstanding any provision in the Plan to the contrary and except as otherwise provided in a written employment agreement
      between the Company (or other member of the Group) and a Participant, the Committee shall have the discretionary authority to determine the treatment of Awards in the event of a Change in Control.

     

    (d)          Adjustments.  The Committee is authorized to make the following adjustments to outstanding Awards and/or limitations on future Awards:

     

    (i)          In the event that any large, special and non-recurring dividend or other distribution (whether in the form of cash or property other than Stock), recapitalization, forward or reverse
      split, Stock dividend, reorganization, merger, consolidation, spin-off, combination, repurchase, share exchange, sale of substantially all assets, liquidation, dissolution or other change in corporate structure or corporate transaction or event
      affects the Stock such that an adjustment is determined by the Committee to be appropriate in order to prevent dilution or enlargement of benefits under the Plan, then the Committee shall, in such manner as it may deem equitable, adjust any or all of
      (A) the aggregate number and kind of shares of Stock or other property which may be delivered under the Plan, including the number of shares with respect to which ISOs may be granted, (B) the number and kind of shares of Stock or other property by
      which any applicable annual per-person Award limitations are measured, (C) the number and kind of shares of Stock or other property which may be granted without minimum vesting requirements under Section 8(d), (D) the number and kind of
      shares of Stock or other property subject to or deliverable in respect of outstanding Awards, (E) the exercise price, grant price or purchase price relating to any Award, and (F) the performance goals and/or performance periods relating to any Award.

     

    

  

  
    
      

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  (ii)         Upon any reorganization, merger or consolidation as a result of which the Company is not the surviving corporation (or survives as a wholly-owned subsidiary of another corporation or
    entity), a sale of substantially all the assets of the Company, the dissolution or liquidation of the Company, the disposition of a Subsidiary, Affiliate or business unit of the Company, or a Change in Control, the Committee may take such action as it
    in its discretion deems appropriate to: (1) accelerate the vesting, in whole or in part, of an Award (and, if applicable, the time at which the Award may be exercised); (2) cash out all or any portion of outstanding Awards through a payment of the
    in-the-money-value (if any), as determined by the Committee in its sole discretion, of such Awards (payable in cash, shares, or other property) at or immediately prior to the date of such event (it being understood that any Awards that are
    out-of-the-money, as determined by the Committee in its sole discretion, may be cancelled and terminated without any consideration therefor); subject to compliance with Code Section 409A, such payment may be made in installments and may be deferred
    until the date or dates the Award would have become exercisable or vested; (3) provide for the substitution or assumption of outstanding Options, SARs, and other Awards (as adjusted to reflect the transaction) by surviving, successor or transferee
    corporations; (4) provide that in lieu of Stock, Participants shall be entitled to receive the consideration they would have received in the transaction in exchange for such Stock (or the fair market value of such consideration in cash); (5) provide
    that Options and SARs shall be exercisable for a period of at least ten (10) business days from the date of receipt by Participants of a notice from the Company of such proposed event, following the expiration of which period any unexercised Options
    and SARs shall terminate; and/or (6) provide for the termination and cancellation of the unvested portion of any outstanding Award with such payment to the Participant (including no payment) as the Committee determines in its sole discretion.

   

  (e)          Tax Provisions.

   

  (i)          Tax Withholding.  Whenever the value of an Award first becomes includible in an Employee’s gross income for applicable tax purposes, the Company shall
    have the right to require the Employee to remit to the Company, or make arrangements satisfactory to the Committee regarding payment of, an amount sufficient to satisfy any federal, state or local withholding tax liability prior to the delivery of any
    certificate for such shares or the time of such income inclusion.  Whenever under the Plan payments by the Company are to be made in cash, such payments shall be net of an amount sufficient to satisfy any federal, state or local withholding tax
    liability.

   

  (ii)         Use of Stock to Satisfy Tax Withholding Obligations.  To the extent permitted by the Committee (in the Award document or otherwise), and subject to
    any terms and conditions imposed by the Committee, an Employee entitled to receive Stock under the Plan may elect to have the employer’s withholding obligation for federal, state, and local taxes, including payroll taxes, with respect to such Stock
    satisfied (A) by having the Company withhold from the shares otherwise deliverable to the Employee shares of Stock having a value equal to the amount of such withholding obligation with respect to the Stock or (B) by delivering to the Company shares of
    unrestricted Stock.  Alternatively, the Committee (in the Award document or subsequently) may require that a portion of the shares of Stock otherwise deliverable be withheld and applied to satisfy the statutory withholding obligations with respect to
    the Award.

   

  

  
    
      

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  (iii)        Notification of Code Section 83(b) Election.  If a Participant shall, in connection with the acquisition of shares of Stock under the Plan, make the
    election permitted under Code Section 83(b), such Participant shall notify the Company of such election, and deliver a copy of such election to the Company, within ten (10) days of filing notice of the election with the Internal Revenue Service.

   

  (iv)        Requirement of Notification Upon Disqualifying Disposition of ISO.  If any Participant makes any disposition of shares of Stock delivered pursuant to
    the exercise of an ISO in a disqualifying disposition within the meaning of Code Section 421(b), such Participant shall notify the Company of such disposition within ten (10) days thereof.

   

  (v)         Disclaimer of Tax Treatment.  Although the Company may endeavor to qualify an Award for favorable tax treatment (e.g., incentive stock options under
    Code Section 422) or to avoid adverse tax treatment (e.g., under Code Section 409A), the Company makes no representation that the desired tax treatment will be available and expressly disclaims any liability for the failure to maintain favorable or
    avoid unfavorable tax treatment.  By accepting an Award, a Participant agrees to hold the Company, the Board, the Committee, and their respective delegees harmless for any liability under Code Section 409A.

   

  (f)          Amendment of the Plan and/or Awards.  The Board may terminate the Plan prior to the termination date specified in Section 9(r), and may from
    time to time amend or suspend the Plan or the Committee’s authority to grant Awards under the Plan, and the Committee may amend outstanding Awards, in each case without the consent of stockholders or Participants, subject to the following limitations:

   

  (i)          Any amendment to the Plan that would materially increase the number of shares reserved for issuance or for which stockholder approval is required by applicable law or any stock exchange or
    market on which the Stock is listed or traded shall be subject to approval by the Company’s stockholders not later than the earliest annual meeting for which the record date is at or after the date of Board approval of such amendment.

   

  (ii)         No amendment or termination of the Plan or any Award may materially and adversely affect the rights of a Participant without the consent of the affected Participant.  For the purposes of the
    preceding sentence, (A) actions that alter the timing of income or other taxation of a Participant will not be deemed material, and (B) adjustments of Awards permitted under Section 9(d) will not be considered amendments of such Awards.

   

  (iii)        Without stockholder approval, the Committee will not amend or replace previously granted Options or SARs in a transaction that constitutes a “repricing” under the rules of any securities
    exchange on which the Stock may then be traded or listed.

   

  Notwithstanding the foregoing provisions of this Section 9(f), the Committee shall have the right, in its sole discretion, to amend the Plan and all outstanding Awards without the consent of
    stockholders or Participants to the extent the Committee determines that such amendment is necessary or appropriate to comply with Code Section 409A.

   

  
    
      

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  Notwithstanding any other provision of the Plan or of any Award, the Committee shall have the right, in its sole discretion, to terminate (or provide for the termination of) the Plan and/or all or
    selected Awards, and distribute (or provide for the distribution of) the compensation deferred thereunder, within twelve (12) months following the occurrence of a “Change in Control Event” as defined for purposes of Code Section 409A.

   

  (g)          Right of Setoff.  To the extent permitted by applicable law, the Company (or Group) shall have the right to offset amounts payable under this Plan or
    under any Award against any amounts owed to the Company (or Group) by the Participant.  By accepting any Award granted hereunder, a Participant agrees to any deduction or setoff under this Section 9(g).

   

  (h)          Unfunded Status of Awards; Creation of Trusts.  The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation.  With
    respect to any payments not yet made to a Participant or obligation to deliver Stock or cash pursuant to an Award, nothing contained in the Plan or any Award shall give any such Participant any rights that are greater than those of a general creditor
    of the Company.  The Committee may authorize the creation of trusts and deposit therein cash, Stock, or other property, or make other arrangements to meet the Company’s obligations under the Plan, consistent with the “unfunded” status of the Plan.

   

  (i)          Nonexclusivity of the Plan.  Neither the adoption of the Plan by the Board nor its submission to the stockholders of the Company for approval shall be
    construed as creating any limitations on the power of the Board or a committee thereof to adopt such other compensatory plans or incentive arrangements as it may deem desirable, including but not limited to arrangements providing for the issuance of
    Stock; and such other arrangements may be either applicable generally or only in specific cases.

   

  (j)          Payments in the Event of Forfeitures; Fractional Shares.  Unless otherwise determined by the Committee, in the event of a forfeiture of an Award with
    respect to which a Participant paid cash consideration, the Participant shall be repaid the amount of such cash consideration or, in the discretion of the Committee, the lesser of such cash consideration or the then value of the Award.  No fractional
    shares of Stock shall be issued or delivered pursuant to the Plan or any Award.  The Committee shall determine whether cash, other Awards or other property shall be issued or paid in lieu of such fractional shares or whether such fractional shares or
    any rights thereto shall be forfeited or otherwise eliminated.

   

  (k)          Compliance with Code Section 409A.

   

  (i)          For purposes of this Plan, references to an Award provision or an event (including any authority or right of the Company or a Participant) being “permitted” under Code Section 409A or being
    subject to this Section 9(k) mean (i) for a 409A Award, that the provision or event will not cause a Participant to be liable for payment of interest or a tax penalty under Code Section 409A, and (ii) for a Non-409A Award, that the provision or
    event will not cause the Award to be treated as subject to Code Section 409A.

   

  

  
    
      

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  (ii)         Notwithstanding any other provision of the Plan, the Company and the Committee shall have no authority to accelerate distributions with respect to 409A Awards in excess of the authority
    permitted under Code Section 409A.

   

  (iii)        Notwithstanding any provision of the Plan or any Award to the contrary, any amounts payable under the Plan on account of termination of employment to an Award holder who is a “specified
    employee” within the meaning of Code Section 409A which constitute “deferred compensation” within the meaning of Code Section 409A and which are otherwise scheduled to be paid during the first six months following the Award holder’s termination of
    employment (other than any payments that are permitted under Code Section 409A to be paid within six months following termination of employment of a specified employee) shall be suspended until the six-month anniversary of the Award holder’s
    termination of employment (or until the Award holder’s death, if earlier), at which time all payments that were suspended shall be paid to the Award holder in a lump sum.  The “specified employees” of the Company shall be determined in such manner as
    may be specified by resolution of the Committee in accordance with Code Section 409A.

   

  (iv)        A termination of employment shall not be deemed to have occurred for purposes of any 409A Award under this Plan providing for the payment of any amounts upon or following a termination of
    employment unless such termination is also a “separation from service” within the meaning of Section 409A.

   

  (l)          Governing Law; Consent to Jurisdiction.  The Plan, any rules and regulations relating to the Plan, and any Award document under the Plan shall be
    construed in accordance with the laws of the State of Delaware (without giving effect to principles of conflicts of laws) and applicable provisions of federal law. Any dispute arising out of any award granted under the Plan may be resolved in any state
    or federal court located within the State of Delaware.  Any Award granted under the Plan is granted on condition that the Award holder accepts such venue and submits to the personal jurisdiction of any such court.

   

  (m)         Awards to Participants Outside the United States. Notwithstanding any provision of the Plan to the contrary, in order to comply with the laws in
    countries other than the United States in which the Company and its Subsidiaries and Affiliates operate or have Employees, Directors or Consultants, or in order to comply with the requirements of any foreign securities exchange or other applicable law,
    the Committee, in its sole discretion, shall have the power and authority to: (a) determine which Subsidiaries and/or Affiliates shall be covered by the Plan; (b) determine which Employees, Directors or Consultants outside the United States are
    eligible to participate in the Plan; (c) modify the terms and conditions of any Award granted to any Employee, Directors or Consultants outside the United States to comply with applicable law (including, without limitation, applicable foreign laws or
    listing requirements of any foreign securities exchange); (d) establish sub-plans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary or advisable; provided, however, that no such sub-plans
    and/or modifications shall increase the share limitation contained in Section 4(a); and (e) take any action, before or after an Award is made, that it deems advisable to obtain approval or comply with any necessary local governmental regulatory
    exemptions or approvals or listing requirements of any foreign securities exchange.

   

  

  
    
      

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  (n)          Limitation on Rights Conferred under Plan.  Neither the Plan nor any action taken hereunder shall be construed as (i) giving any Participant the right
    to continue as a Participant or in the employ or service of the Company or Group, (ii) interfering in any way with the right of the Company or Group to terminate any Participant’s employment or service at any time, (iii) giving any person a claim to be
    granted any Award under the Plan, or (iv) conferring on a Participant any of the rights of a stockholder of the Company unless and until shares of Stock are duly issued or transferred to the Participant in accordance with the terms of an Award. 
    Determinations by the Committee under the Plan relating to the form, amount, and terms and conditions of Awards need not be uniform, and may be made selectively among persons who receive or are eligible to receive Awards under the Plan, whether or not
    such persons are similarly situated. Except as expressly provided in the Plan or an Award document, neither the Plan nor any Award document shall confer on any person other than the Company (or Group) and the Participant any rights or remedies
    thereunder.

   

  (o)          Invalidity of Provision.  If any provision of the Plan or an Award document is finally held to be invalid, illegal, or unenforceable, the Committee
    shall have the right to modify the terms of affected Awards in such manner as it deems equitable in order to prevent unintended enrichment or dilution of benefits in light of the invalid, illegal or unenforceable provision.

   

  (p)          Compensation Recovery.   All Awards (including any proceeds, gains or other economic benefit actually or constructive received by a Participant upon
    receipt or exercise of any Award or upon the receipt or resale of any shares of Stock underlying the Award) shall be subject to the provisions of any claw-back or compensation recovery policy implemented by the Company, including, without limitation,
    any claw-back or compensation recovery policy adopted to comply with the requirements of applicable law, including, without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or regulations promulgated thereunder,
    whether or not such claw-back or compensation recovery policy was in place at the time of grant of an Award, to the extent set forth in such claw-back or compensation recovery policy and/or in the applicable award agreement.  By accepting an Award, the
    Participant is agreeing to be bound by any claw-back or compensation recovery policy, as in effect or as may be adopted and/or modified from time to time by the Company in its discretion.

   

  (q)          Plan Effective Date; Termination of Preexisting Plans.  Subject to Section 9(s), the Plan shall become effective on the date that the Form 8-A
    in connection with the Company’s direct listing becomes effective (the “Effective Date”).  Upon the Effective Date, no further awards shall be granted under the Dex Media, Inc. 2016 Stock Incentive Plan, as
    amended, but any outstanding awards under such plan shall continue in accordance with its terms.

   

  (r)          Plan Termination Date.  No Awards shall be granted under the Plan after the date that is ten (10) years from the Effective Date, but outstanding
    Awards granted prior to such date shall continue in accordance with their terms.

   

  (s)          Stockholder Approval.  The Plan shall be subject to approval by the stockholders of the Company within twelve (12) months after the date the Plan is
    adopted by the Board.  Awards may be granted or awarded prior to such stockholder approval; provided that such Awards shall not be exercisable, shall not vest and the restrictions thereon shall not lapse and no Stock shall be issued thereto
    prior to the time when the Plan is approved by the Company’s stockholders; and provided, further, that if such approval has not been obtained at the end of said twelve (12) month period, all Awards previously granted or awarded under
    the Plan shall thereupon be canceled and become null and void.

   

  
    
      

    24

  

  (t)          Section 16.  It is the intent of the Company that the Plan satisfy, and be interpreted in a manner that satisfies the applicable requirements of Rule
    16b-3 as promulgated under Section 16 of the Exchange Act so that Participants will be entitled to the benefit of Rule 16b-3, or any other rule promulgated under Section 16 of the Exchange Act, and will not be subject to short-swing liability under
    Section 16 of the Exchange Act.  Accordingly, if the operation of any provision of the Plan would conflict with the intent expressed in this Section 9(t), such provision to the extent possible shall be interpreted and/or deemed amended so as to
    avoid such conflict.

   

  (u)          Data Privacy.  As a condition of receipt of any Award, each Participant explicitly and unambiguously consents to the collection, use and transfer, in
    electronic or other form, of personal data as described in this Section 9(u) by and among, as applicable, the Company and its Affiliates and Subsidiaries for the exclusive purpose of implementing, administering and managing the Participant’s
    participation in the Plan.  The Company and its Affiliates and Subsidiaries may hold certain personal information about a Participant, including but not limited to, the Participant’s name, home address and telephone number, date of birth, social
    security or insurance number or other identification number, salary, nationality, job title(s), any shares of Stock held in the Company or any of its Affiliates or Subsidiaries, details of all Awards, in each case, for the purpose of implementing,
    managing and administering the Plan and Awards (the “Data”).  The Company and its Affiliates and Subsidiaries may transfer the Data among themselves as necessary for the purpose of implementation, administration
    and management of a Participant’s participation in the Plan, and the Company and its Affiliates and Subsidiaries may each further transfer the Data to any third parties assisting the Company and its Affiliates and Subsidiaries in the implementation,
    administration and management of the Plan.  These recipients may be located in the Holder’s country, or elsewhere, and the Participant’s country may have different data privacy laws and protections than the recipients’ country.  Through acceptance of
    an Award, each Participant authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Participant’s participation in the Plan,
    including any requisite transfer of such Data as may be required to a broker or other third party with whom the Company or any of its Affiliates and Subsidiaries or the Participant may elect to deposit any Shares.  The Company may cancel the
    Participant’s ability to participate in the Plan and, in the Committee’s discretion, the Participant may forfeit any outstanding Awards if the Participant refuses or withdraws his or her consents as described herein.

   

  (v)          Paperless Administration.  In the event that the Company establishes, for itself using the services of a third party, an automated system for the
    documentation, granting or exercise of Awards, such as a system using an internet website or interactive voice response, then the paperless documentation, granting or exercise of Awards by a Participant may be permitted through the use of such an
    automated system.

   

  *          *          *          *

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