Document:

EX-4.3

 Exhibit 4.3 

DESCRIPTION OF REGISTRANT’S SECURITIES REGISTERED 

PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934 

Zeta Global Holdings Corp. (“company,” we,” “us” or “our”) has one class of securities registered pursuant to
Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), its Class A common stock, $0.001 par value per shares. The following is a summary of the material rights of our capital stock and related
provisions of the company’s amended and restated certificate of incorporation (“charter”) and amended and restated bylaws (“bylaws”). The following description of the company’s capital stock does not purport to be
complete and is subject to, and qualified in its entirety by, our charter, bylaws and amended and restated registration rights agreement (“RRA”), each of which are filed as exhibits to our Annual Report on Form 10-K of which this Exhibit is a part. We encourage you to read our charter, bylaws, RRA and the applicable provisions of the Delaware General Corporation Law (the “DGCL”) for additional information.

 General 
 Our charter provides
that we may issue up to 3,750,000,000 shares of Class A common stock, par value $0.001 per share (“Class A common stock”), 50,000,000 shares of Class B common stock, par value $0.001 per share (“Class B common
stock”), and 200,000,000 shares of preferred stock, par value $0.001 per share (“Preferred Stock”). All shares of our common stock outstanding are fully paid and non-assessable. 

Common Stock 
 General 

We have two classes of authorized common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock
and Class B common stock are identical, except with respect to voting, conversion and transfer rights. 
 Voting Rights 

Holders of shares of our Class A common stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders.
Holders of shares of our Class B common stock are entitled to ten votes for each share held of record on all matters submitted to a vote of stockholders. The holders of our common stock do not have cumulative voting rights in the election of
directors. 
 Delaware law would require either holders of our Class A common stock or our Class B common stock to vote separately as a class in
the following circumstances: 
  

	 	•	 	 if we were to seek to amend our charter to increase or decrease the par value of the shares of such class of
stock; or 

  

	 	•	 	 if we were to seek to amend our charter in a manner that alters or changes the powers, preferences or special
rights of the shares of such class of stock in a manner that affects them adversely. 

 Special Approval Rights 

Our charter provides that so long as any shares of Class B common stock remain outstanding, the company shall not, without the prior affirmative vote of
the holders of a majority of the outstanding shares of Class B common stock, voting as a separate class, in addition to any other vote required by applicable law or our charter, directly or indirectly, whether by amendment, or through merger,
recapitalization, consolidation or otherwise, amend, repeal or adopt any provision of our charter (1) in a manner that is inconsistent with, or otherwise alter or change, any of the voting, conversion, dividend or liquidation provisions of the
shares of Class B common stock or other rights, powers, preferences or privileges of the shares of Class B common stock; (2) to provide for each share of Class A common stock to have more than one (1) vote per share or any
rights to a separate class vote of the holders of shares of Class A common stock other than as provided by our charter or required by the DGCL; or (3) to otherwise adversely impact the rights, powers, preferences or privileges of the
shares of Class B common stock in a manner that is disparate from the manner in which it affects the rights, powers, preferences or privileges of the shares of Class A common stock. 

  
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 Our charter also provides that, so long as any shares of Class A common stock remain outstanding, we
shall not, without the prior affirmative vote of the holders of a majority of the outstanding shares of Class A common stock, voting as a separate class, in addition to any other vote required by applicable law or our charter, directly or
indirectly, whether by amendment, or through merger, recapitalization, consolidation or otherwise amend, alter, change, repeal or adopt any provision of our charter to provide for each share of Class B common stock to have more than ten
(10) votes per share or any rights to a separate class vote of the holders of shares of Class B common stock other than as provided by our charter or required by the DGCL. 

Our charter also provides that, so long as any shares of Class B common stock remain outstanding, we will not, and will cause all of our direct or
indirect subsidiaries not to consummate a change of control without the prior affirmative vote of the holders of a majority of the outstanding shares of Class B common stock, voting as a separate class. 

In addition, our charter provides that, so long as any shares of Class B common stock remain outstanding, no provision of our bylaws shall be adopted,
amended, altered or repealed in a manner that is adverse to the holders of Class B common stock without the prior affirmative vote of the holders of a majority of the outstanding shares of Class B common stock, voting as a separate class.

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

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

In the event of our liquidation, dissolution or winding-up, upon the completion of the distributions required with
respect to any series of preferred stock that may then be outstanding, our remaining assets legally available for distribution to stockholders shall be distributed on an equal priority, pro rata basis to the holders of Class A common stock and
Class B common stock, unless disparate or different treatment of the shares of each such class with respect to distributions upon any such liquidation, dissolution, distribution of assets or winding up is approved by the affirmative vote of the
holders of a majority of the outstanding shares of Class A common stock and Class B common stock, each voting separately as a class. 

Subdivisions, Combinations and Reclassifications. 
 If we
subdivide, combine or reclassify in any manner outstanding shares of Class A common stock or Class B common stock, then the outstanding shares of the other class will be subdivided, combined or reclassified in the same proportion and
manner, unless different treatment of the shares of each class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A common stock and by the affirmative vote of the holders of a majority of the
outstanding shares of Class B common stock, each voting separately as a class. 

  
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 Mergers, Consolidations, and Third-Party Tender or Exchange Offers 

In the case of any distribution or payment in respect of the shares of Class A common stock or Class B common stock, or any consideration into which
such shares are converted, upon our consolidation or merger with or into any other entity, such distribution, payment or consideration that the holders of shares of Class A common stock or Class B common stock have the right to receive, or
the right to elect to receive, shall be made ratably on a per share basis among the holders of the Class A common stock and Class B common stock as a single class; provided, however, that shares of such classes may receive, or have
the right to elect to receive, different or disproportionate consideration in connection with such consolidation, merger or other transaction if (a) the only difference in the per share consideration to the holders of the Class A common
stock and Class B common stock is that any securities distributed to the holder of, or issuable upon the conversion of, a share of Class B common stock have ten (10) times the voting power of any securities distributed to the holder
of, or issuable upon the conversion of, a share of Class A common stock or (b) such different or disproportionate consideration is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A
common stock and Class B common stock, each voting separately as a class. 
 We may not enter into any agreement pursuant to which a third party may by
tender or exchange offer acquire any shares of Class A common stock or Class B common stock unless the holders of (a) the Class A common stock shall have the right to receive, or the right to elect to receive, the same form of
consideration and the same amount of consideration on a per share basis as the holders of the Class B common stock would receive, or have the right to elect to receive, and (b) the Class B common stock shall have the right to receive,
or the right to elect to receive, the same form of consideration and the same amount of consideration on a per share basis as the holders of the Class A common stock would receive, or have the right to elect to receive; provided,
however, that shares of such classes may receive, or have the right to elect to receive, different or disproportionate consideration in connection with such tender or exchange offer if (a) the only difference in the per share consideration
to the holders of the Class A common stock and Class B common stock is that any securities exchanged for a share of Class B common stock have ten (10) times the voting power of any securities exchanged for a share of Class A
common stock or (b) such different or disproportionate consideration is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A common stock and Class B common stock, each voting separately
as a class. 
 No Preemptive or Similar Rights 
 Holders
of shares of our common stock do not have preemptive, subscription or redemption rights. There are no redemption or sinking fund provisions applicable to our common stock. 

Conversion 
 Each outstanding share of our Class B
common stock is convertible at any time at the option of the holder into one share of our Class A common stock. Each share of our Class B common stock will convert automatically into one share of our Class A common stock upon any
transfer, whether or not for value, except for certain permitted transfers described in our charter, including transfers to family members, trusts solely for the benefit of the stockholder or their family members, and partnerships, corporations, and
other entities exclusively owned by the stockholder or their family members; provided that, in each case, voting control with respect to the transferred shares of Class B common stock is retained by the transferring holder or such transferring
holder’s family member. Once converted or transferred and converted into Class A common stock, the Class B common stock may not be reissued. Additionally, each outstanding share of Class B common stock shall automatically,
without further action by the company or the holder thereof, convert into one (1) fully paid and nonassessable share of Class A common stock in the following circumstances: (a) upon the earliest to occur: (1) the first date on
which the voting power of all then-outstanding shares of Class B common stock represent less than ten percent (10%) of the combined voting power of all then-outstanding shares of common stock and (2) the date of the death or Disability (as
defined in our charter) of our Co-Founder and Chief Executive Officer, and (b) upon the date specified by the holders of at least a majority of the then outstanding shares of Class B common stock,
voting as a separate class. 
 Preferred Stock 

Under the terms of our charter, the board of directors of the company (“board”) is authorized to direct us to issue shares of preferred stock in one
or more series without stockholder approval. Our board has the discretion to determine the rights, preferences, privileges and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation
preferences, of each series of preferred stock. 

  
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 The purpose of authorizing our board to issue preferred stock and determine its rights and preferences is to
eliminate delays associated with a stockholder vote on specific issuances. The issuance of preferred stock could adversely affect the voting power of holders of our common stock and the likelihood that such holders will receive dividend payments and
payments upon liquidation. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions, future financings and other corporate purposes, could have the effect of making it more difficult for a third party to
acquire, or could discourage a third party from seeking to acquire, a majority of our outstanding voting stock. 
 Registration Rights

 Certain holders of our common stock are entitled to rights with respect to the registration of their shares under the Securities Act of 1933, as
amended (the “Securities Act”). These registration rights are contained in our RRA, filed as Exhibit 4.2 to our Annual Report on Form 10-K of which this Exhibit is a part. We will pay the
registration expenses (other than underwriting discounts, selling commissions and stock transfer taxes) of the holders of the shares registered pursuant to the registrations described below, including the reasonable fees and disbursements of counsel
chosen by the holders of the shares included in such registrations. 
 Demand Registration Rights 

The holders of certain shares of our common stock are entitled to certain demand registration rights. Subject to the terms of the lock-up agreement (as described below), at any time beginning after the date on which such holder is no longer subject to restrictions of the lock-up agreement (which will be
no earlier than December 11, 2021, 180 days following the date of our initial public offering), the holders of a majority of the shares then registrable under our RRA can request that we register the offer and sale of their shares in an
underwritten offering. We are obligated to effect only two such registrations. If we determine that it would be seriously detrimental to our stockholders to affect such a demand registration, we have the right to defer such registration, but not
more than once in any twelve month period, for a period of up to 90 days. 
 Piggyback Registration Rights 

In the event that we propose to register the offer and sale of our common stock under the Securities Act, in connection with the public offering of such common
stock certain holders of our common stock will be entitled to certain “piggyback” registration rights allowing the holders to include their shares in such registration, subject to certain marketing and other limitations. As a result,
whenever we propose to file a registration statement under the Securities Act, other than with respect to (i) a demand registration, (ii) a registration related to any employee benefit plan or a corporate reorganization or other
transaction covered by Rule 145 promulgated under the Securities Act, (iii) a registration on any registration form which does not include substantially the same information as would be required to be included in a registration statement
covering the sale of the shares or (iv) a registration in which the only common stock being registered is common stock issuable upon conversion of debt securities, the holders of these shares are entitled to notice of the registration and have
the right, subject to certain limitations, to include their shares in the registration. 
 S-3 Registration
Rights 
 The holders of certain shares of our common stock are entitled to certain Form S-3 registration
rights. One or more holders of these shares may make a written request that we register the offer and sale of their shares on a registration statement on Form S-3 if we are eligible to file a registration
statement on Form S-3 so long as the request covers at least that number of shares with an aggregate offering price of at least $5.0 million. 

  
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 Lock-up Agreements 

All of our directors and executive officers, the selling stockholders and the holders of substantially all of our outstanding capital stock entered into lock-up agreements in connection with our initial public offering under which they agreed, subject to certain exceptions, not to sell, transfer or dispose of, directly or indirectly, any shares of our Class A
common stock or any securities convertible into or exercisable or exchangeable for shares of our Class A common stock for a periods of 180 days or up to 365 days after June 9, 2021, the date of our prospectus filed in connection with our
initial public offering, subject to early release of such lock-ups upon various events. In addition, Morgan Stanley & Co. LLC may, in their sole discretion, permit our stockholders who are subject to
these lock-up agreements to sell shares prior to the expiration of the lock-up agreements. 

Delaware Anti-Takeover Statute 

Section 203 of the DGCL 
 We will not be
governed by Section 203 of the DGCL (or any successor provision thereto), and the restrictions contained in Section 203 of the DGCL shall not apply to us, until immediately following the time at which both of the following conditions exist
(if ever): (i) Section 203 of the DGCL by its terms would, but for the provisions of Article XIV of our charter, apply to us; and (ii) no holder of Class B common stock owns (as defined in Section 203 of the DGCL) shares of
capital stock of the company representing at least fifteen percent (15%) of the voting power of all the then outstanding shares of capital stock of the company. Following such time, we shall thereafter be governed by Section 203 of the DGCL if
and for so long as Section 203 of the DGCL by its terms shall apply to us. Section 203 of the DGCL prohibits a Delaware corporation from engaging in any business combination with any interested stockholder for a period of three years after
the date that such stockholder became an interested stockholder, with the following exceptions: 
  

	 	•	 	 before such date, the board approved either the business combination or the transaction that resulted in the
stockholder becoming an interested stockholder; 

  

	 	•	 	 upon completion of the transaction that resulted in the stockholder becoming an interested stockholder, the
interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction began, excluding for purposes of determining the voting stock outstanding (but not the outstanding voting stock owned by the
interested stockholder) those shares owned (i) by persons who are directors and also officers and (ii) employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the
plan will be tendered in a tender or exchange offer; or 

  

	 	•	 	 on or after such date, the business combination is approved by the board and authorized at an annual or special
meeting of the stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that is not owned by the interested stockholder. 

 
 In general, Section 203 defines a “business combination” to include the
following: 
  

	 	•	 	 any merger or consolidation involving the corporation and the interested stockholder; 

 

	 	•	 	 any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the
interested stockholder; 

  

	 	•	 	 subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any
stock of the corporation to the interested stockholder; 

  

	 	•	 	 any transaction involving the corporation that has the effect of increasing the proportionate share of the stock
or any class or series of the corporation beneficially owned by the interested stockholder; and 

  

	 	•	 	 the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other
financial benefits by or through the corporation. 

 In general, Section 203 defines an “interested stockholder” as an
entity or person who, together with the person’s affiliates and associates, beneficially owns 15% or more of the outstanding voting stock of the corporation. 

The statute could prohibit or delay mergers or other takeover or change in control attempts and, accordingly, may discourage attempts to acquire us even
though such a transaction may offer our stockholders the opportunity to sell their stock at a price above the prevailing market price. 

  
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 Anti-Takeover Provisions 

Charter and Bylaws 
 Our charter and bylaws contain
provisions that may delay, defer or discourage another party from acquiring control of us. We expect that these provisions, which are summarized below, will discourage coercive takeover practices or inadequate takeover bids. These provisions are
also designed to encourage persons seeking to acquire control of us to first negotiate with our board, which we believe may result in an improvement of the terms of any such acquisition in favor of our stockholders. However, they also give our board
the power to discourage acquisitions that some stockholders may favor. 
 Among other things, our charter and bylaws: 

 

	 	•	 	 permit our board to issue up to 200,000,000 shares of preferred stock, with any rights, preferences and
privileges as they may designate, including the right to approve an acquisition or other change in control; 

  

	 	•	 	 provide that the authorized number of directors may be changed only by resolution of our board;

  

	 	•	 	 provide that our board will be classified into three classes of directors, divided as nearly as equal in number
as possible; 

  

	 	•	 	 provide that if the holders of Class B common stock no longer hold at least a majority of the voting power
of the outstanding shares of our common stock, any director or our entire board may be removed from office at any time, but only for cause by the holders of a majority in voting power of the shares of our capital stock then entitled to vote at an
election of directors; 

  

	 	•	 	 provide that all vacancies, including newly created directorships, may, except as otherwise required by law, be
filled by the affirmative vote of a majority of directors then in office, even if less than a quorum; 

  

	 	•	 	 provide that, subject to the terms of any series of preferred stock, if the holders of shares of Class B
common stock no longer hold at least a majority of the voting power of the outstanding shares of our common stock, any action required or permitted to be taken by our stockholders must be effected at an annual or special meeting of the stockholders
and may not be effected by consent in lieu of a meeting; 

  

	 	•	 	 provide that stockholders seeking to present proposals before a meeting of stockholders or to nominate candidates
for election as directors at a meeting of stockholders must provide advance notice in writing, and also specify requirements as to the form and content of a stockholder’s notice; 

 

	 	•	 	 provide that special meetings of our stockholders may be called only by (i) our board (ii) the Chairman
of the our board, (iii) our Chief Executive Officer or (iv) for so long as any shares of Class B common stock remain outstanding, the holders of a majority of the outstanding shares of Class B common stock; 

 

	 	•	 	 so long as any shares of Class B common stock remain outstanding, require the prior affirmative vote of the
holders of a majority of the outstanding shares of Class B common stock, voting as a separate class to consummate a Change of Control Transaction (as defined in our charter); 

 

	 	•	 	 require the consent of the holders of Class B common stock and/or Class A common stock to effectuate
certain amendments to our charter or our bylaws; 

  

	 	•	 	 provide that the restrictions set forth in Section 203 of the DGCL shall be applicable to us in the event
that no holder of Class B common stock owns shares of our capital stock representing at least fifteen (15%) of the voting power of all the then outstanding shares of our capital stock; and 

 

	 	•	 	 do not provide for cumulative voting rights, therefore allowing the holders of a majority of the shares of common
stock entitled to vote in any election of directors to elect all of the directors standing for election, if they should so choose. 

 The
combination of these provisions will make it more difficult for our existing stockholders to replace our board as well as for another party to obtain control of us by replacing our board. Because our board has the power to retain and discharge our
officers, these provisions could also make it more difficult for existing stockholders or another party to effect a change in management. In addition, the authorization of undesignated preferred stock makes it possible for our board to issue
preferred stock with voting or other rights or preferences that could impede the success of any attempt to effect a change in control of our company. 

  
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 These provisions are intended to enhance the likelihood of continued stability in the composition of our
board and its policies and to discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed to reduce our vulnerability to hostile takeovers and to discourage certain tactics that may be used in proxy
fights. However, such provisions could have the effect of discouraging others from making tender offers for our shares and may have the effect of delaying changes in control or management of our company. As a consequence, these provisions may also
inhibit fluctuations in the market price of our stock that could result from actual or rumored takeover attempts. We believe that the benefits of these provisions, including increased protection of our potential ability to negotiate with the
proponent of an unfriendly or unsolicited proposal to acquire or restructure our company, outweigh the disadvantages of discouraging takeover proposals, because negotiation of takeover proposals could result in an improvement of their terms. 

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

Our charter provides that our board is divided into three classes, with the classes as nearly equal in number as possible and each class serving three-year
staggered terms. Only one class of directors is elected at each annual meeting of our stockholders, with the other classes continuing for the remainder of their respective three-year terms. Because our stockholders do not have cumulative voting
rights, our stockholders holding a majority of the voting power of the shares of common stock outstanding will be able to elect all of our directors. Subject to the rights of any series of preferred stock to elect directors, (i) for so long as
the holders of Class B common stock hold at least a majority of the voting power of the outstanding shares of our common stock, any director or our entire board may be removed from office at any time, with or without cause, by the holders of a
majority in voting power of the shares of capital stock of the company then entitled to vote at an election of directors and (ii) if the holders of Class B common stock no longer hold at least a majority of the voting power of the
outstanding shares of our common stock, any director or our entire board may be removed from office at any time, but only for cause by the holders of a majority in voting power of the shares of our capital stock then entitled to vote at an election
of directors. These provisions may have the effect of deferring, delaying or discouraging hostile takeovers or changes in control of us or our management. 

Stockholder Action; Special Meeting of Stockholders 

Our charter provides that, subject to the terms of any series of preferred stock, (i) for so long as the holders of shares of Class B common stock
hold at least a majority of the voting power of the outstanding shares of our common stock, any action required or permitted to be taken by our stockholders may be effected by consent in lieu of a meeting and (ii) if the holders of shares of
Class B common stock no longer hold at least a majority of the voting power of the outstanding shares of our common stock, any action required or permitted to be taken by our stockholders must be effected at an annual or special meeting of the
stockholders and may not be effected by consent in lieu of a meeting. Our charter will further provide that special meetings of our stockholders may be called only by (i) our board, (ii) the Chairman of the our board, (iii) our Chief
Executive Officer or (iv) for so long as any shares of Class B common stock remain outstanding, the holders of a majority of the outstanding shares of Class B common stock 

Advance Notice Requirements for Stockholder Proposals and Director Nominations 

In addition, our bylaws establish an advance notice procedure for stockholder proposals to be brought before an annual meeting of stockholders and for
stockholder nominations of candidates for election to our board at an annual or special meeting of stockholders. In order for any matter or nomination to be “properly brought” before a meeting, a stockholder will have to comply with
advance notice and duration of ownership requirements and provide us with certain information. Stockholders at an annual meeting may only consider proposals or nominations specified in the notice of meeting or brought before the meeting by or at the
direction of our board or by a qualified stockholder of record on the record date for the meeting who is entitled to vote at the meeting, who has delivered timely written notice in proper form to our secretary of the stockholder’s intention to
bring such business or nomination before the meeting and who otherwise complies with requirements set forth in our bylaws. These provisions could have the effect of delaying stockholder actions that are favored by the holders of a majority of our
outstanding voting securities until the next stockholder meeting. 

  
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 Corporate Opportunity 

Under Delaware law, officers and directors generally have an obligation to present to the corporation they serve business opportunities which the corporation
is financially able to undertake and which falls within the corporation’s business line and are of practical advantage to the corporation, or in which the corporation has an actual or expectant interest. A corollary of this general rule is that
when a business opportunity comes to an officer or director that is not one in which the corporation has an actual or expectant interest, the officer is generally not obligated to present it to the corporation. Certain of our officers and directors
may serve as officers, directors or fiduciaries of other entities and, therefore, may have legal obligations relating to presenting available business opportunities to us and to other entities. Potential conflicts of interest may arise when our
officers and directors learn of business opportunities (e.g., the opportunity to acquire an asset or portfolio of assets, to make a specific investment, to effect a sale transaction, etc.) that would be of material advantage to us and to one or more
other entities of which they serve as officers, directors or other fiduciaries. 
 Section 122(17) of the DGCL permits a corporation to renounce, in
advance, in its certificate of incorporation or by action of its board of directors, any interest or expectancy of a corporation in certain classes or categories of business opportunities. Where business opportunities are so renounced, certain of
our officers and directors will not be obligated to present any such business opportunities to us. Our certificate of incorporation provides that, to the fullest extent permitted by law, the company renounces any interest or expectancy of the
company in, or in being offered an opportunity to participate in any matter, transaction, business opportunity or interest that is presented to, or acquired, created or developed by, or which otherwise comes into the possession of, any director of
the company who is not an employee or officer of the company or any of its subsidiaries (a “Covered Person”), unless such matter, transaction, business opportunity or interest is presented to, or acquired, created or developed by, or
otherwise comes into the possession of, a Covered Person expressly and solely in such Covered Person’s capacity as a director of the company. 

Choice of Forum 
 Our charter provides that:
(i) unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware (or, if such court does not have subject matter jurisdiction thereof, the federal district court of the State of Delaware)
will, to the fullest extent permitted by law, be the sole and exclusive forum for: (A) any derivative action or proceeding brought on behalf of the company, (B) any action asserting a claim for a breach of a fiduciary duty owed by any of
our current or former director, officer, other employee, or stockholder to the company or our stockholders, including without limitation a claim alleging the aiding and abetting of such a breach of fiduciary duty, (C) any action asserting a
claim against the company or any of our current or former director, officer, employee, agent or stockholder arising pursuant to any provision of the DGCL or our certificate of incorporation or bylaws or as to which the DGCL confers jurisdiction on
the Court of Chancery of the State of Delaware, or (D) any action asserting a claim related to or involving the company that is governed by the internal affairs doctrine; (ii) unless we consent in writing to the selection of an alternative
forum, the federal district courts of the United States of America will, to the fullest extent permitted by law, be the sole and exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act and the
rules and regulations promulgated thereunder; (iii) any person or entity purchasing or otherwise acquiring or holding any interest in shares of capital stock of the company will be deemed to have notice of and consented to these provisions; and
(iv) that, if any action the subject matter of which is within the scope of clause (i) of this sentence is filed in a court other than a court located within the State of Delaware (a “Foreign Action”) in the name of any
stockholder, such stockholder shall, to the fullest extent permitted by applicable law, be deemed to have consented to (A) the personal jurisdiction of the state and federal courts located within the State of Delaware in connection with any
action brought in any such court to enforce clause (i) of this sentence and (B) having service of process made upon such stockholder in any such action by service upon such stockholder’s counsel in the Foreign Action as agent for such
stockholder. Under our charter, the exclusive forum provision described above does not apply to claims arising under the Exchange Act. 

  
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 Although our charter contains the choice of forum provision described above, it is possible that a court
could find that such a provision is inapplicable for a particular claim or action or that such provision is unenforceable. 
 Amendment of Certificate
of Incorporation or Bylaws 
 The DGCL provides generally that the adoption of resolutions by our board and the affirmative vote of the holders of a
majority in voting power of the shares entitled to vote is required to amend a corporation’s certificate of incorporation, unless a corporation’s certificate of incorporation requires a greater percentage. Our bylaws may be amended or
repealed by our board or by the affirmative vote of the holders a majority of the votes which all our stockholders would be eligible to cast in an election of directors. 

Our charter provides that so long as any shares of Class B common stock remain outstanding, we will not, without the prior affirmative vote of the
holders of a majority of the outstanding shares of Class B common stock, voting as a separate class, in addition to any other vote required by applicable law or our charter, directly or indirectly, whether by amendment, or through merger,
recapitalization, consolidation or otherwise, amend, repeal or adopt any provision of our charter (1) in a manner that is inconsistent with, or otherwise alter or change, any of the voting, conversion, dividend or liquidation provisions of the
shares of Class B common stock or other rights, powers, preferences or privileges of the shares of Class B common stock; (2) to provide for each share of Class A common stock to have more than one (1) vote per share or any
rights to a separate class vote of the holders of shares of Class A common stock other than as provided by our charter or required by the DGCL; or (3) to otherwise adversely impact the rights, powers, preferences or privileges of the
shares of Class B common stock in a manner that is disparate from the manner in which it affects the rights, powers, preferences or privileges of the shares of Class A common stock. 

Our charter also provides that, so long as any shares of Class A common stock remain outstanding, we will not, without the prior affirmative vote of the
holders of a majority of the outstanding shares of Class A common stock, voting as a separate class, in addition to any other vote required by applicable law or our charter, directly or indirectly, whether by amendment, or through merger,
recapitalization, consolidation or otherwise amend, alter, change, repeal or adopt any provision of our charter to provide for each share of Class B common stock to have more than ten (10) votes per share or any rights to a separate class
vote of the holders of shares of Class B common stock other than as provided by our charter or required by the DGCL. 
 Our charter also provides that,
so long as any shares of Class B common stock remain outstanding, we will not, and will cause all of our direct or indirect subsidiaries not to, consummate a Change of Control without the prior affirmative vote of the holders of a majority of
the outstanding shares of Class B common stock, voting as a separate class. 
 In addition, our charter provides that, so long as any shares of
Class B Common Stock remain outstanding, no provision of our bylaws may be adopted, amended, altered or repealed in a manner that is adverse to the holders of Class B common stock without the prior affirmative vote of the holders of a
majority of the outstanding shares of Class B common stock, voting as a separate class. 
 Limitation on Liability of Directors and
Indemnification 
 Our charter and bylaws limits our directors’ liability to the fullest extent permitted under the DGCL. Specifically, our
directors will not be liable to us or our stockholders for monetary damages for any breach of fiduciary duty by a director, except for liability: 
  

	 	•	 	 for any breach of the director’s duty of loyalty to us or our stockholders; 

 

	 	•	 	 for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law;

  

	 	•	 	 under Section 174 of the DGCL; or 

 

	 	•	 	 for any transaction from which a director derives an improper personal benefit. 

  
 9 

 If the DGCL is amended to authorize corporate action further eliminating or limiting the personal liability
of directors, then the liability of our directors shall be eliminated or limited to the fullest extent permitted by the DGCL, as so amended. 
 The
provision regarding indemnification of our directors in our charter will generally not limit liability under state or federal securities laws. 
 Delaware
law and our bylaws provide that we will, in certain situations, indemnify to the fullest extent permitted by applicable law any person made or threatened to be made a party to a proceeding by reason of that person’s former or present capacity
as a director or officer with our company against judgments, penalties, fines, settlements and reasonable expenses, including reasonable attorney’s fees. Any person is also entitled, subject to certain limitations, to payment or reimbursement
of reasonable expenses in advance of the final disposition of the proceeding. In addition, we are party to certain indemnification agreements pursuant to which we have agreed to indemnify the employees who are party thereto. 

The limitation of liability and indemnification provisions in our charter and bylaws may discourage stockholders from bringing a lawsuit against directors for
breach of their fiduciary duty. These provisions may also have the effect of reducing the likelihood of derivative litigation against directors and officers, even though such an action, if successful, might otherwise benefit us and our stockholders.
In addition, stockholders may be adversely affected to the extent that, in a class action or direct suit, we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions. 

Transfer Agent and Registrar 
 The
transfer agent and registrar for our Class A common stock is Computershare Trust Company, N.A. 
 Listing 

Our Class A common stock is listed on the NYSE under the symbol “ZETA.” 

  
 10EX-10.21

 Exhibit 10.21 

ZETA GLOBAL HOLDINGS CORP. 

2021 INCENTIVE AWARD PLAN 

PERFORMANCE STOCK UNIT GRANT NOTICE 

Capitalized terms not specifically defined in this Performance Stock Unit Grant Notice (the “Grant Notice”) have the
meanings given to them in the 2021 Incentive Award Plan (as amended from time to time, the “Plan”) of Zeta Global Holdings Corp. (the “Company”). 

The Company has granted to the participant listed below (“Participant”) the Performance Stock Units described in this
Grant Notice (the “PSUs”), subject to the terms and conditions of the Plan and the Performance Stock Unit Agreement attached as Exhibit A (the “Agreement”), both of which are incorporated into
this Grant Notice by reference. 
  

			
	Participant:	  	
		
	Grant Date:	  	
		
	Number of PSUs (the “Target PSUs”):	  	
		
	Vesting Schedule:	  	The PSUs will vest in accordance with the vesting schedule set forth in Exhibit A.

 By Participant’s signature below, Participant agrees to be bound by the terms of this Grant Notice, the
Plan and the Agreement. Participant has reviewed the Plan, this Grant Notice and the Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of the
Plan, this Grant Notice and the Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan, this Grant Notice or the Agreement. 

 

									
	ZETA GLOBAL HOLDINGS CORP.	 		 		 	PARTICIPANT
					
	By:	 	  
	 		 		 	  

	Name:	 	  
	 		 		 	[Participant Name]
	Title:	 	  
	 		 		 	

 Exhibit A 

PERFORMANCE STOCK UNIT AGREEMENT 

Capitalized terms not specifically defined in this Agreement have the meanings specified in the Grant Notice or, if not defined in the Grant
Notice, in the Plan. 
 ARTICLE I. 

GENERAL 
 1.1 Award of
PSUs and Dividend Equivalents. 
 (a) The Company has granted the Target PSUs to Participant effective as of the grant date set forth in
the Grant Notice (the “Grant Date”). Each PSU represents the right to receive one Share or, at the option of the Company, an amount of cash, in either case, as set forth in this Agreement. Participant will have no right to
the distribution of any Shares or payment of any cash until the time (if ever) the PSUs have vested. 
 (b) The Company hereby grants to
Participant, with respect to each PSU, a Dividend Equivalent for ordinary cash dividends paid to substantially all holders of outstanding Shares with a record date after the Grant Date and prior to the date the applicable PSU is settled, forfeited
or otherwise expires. Each Dividend Equivalent entitles Participant to receive the equivalent value of any such ordinary cash dividends paid on a single Share. The Company will establish a separate Dividend Equivalent bookkeeping account (a
“Dividend Equivalent Account”) for each Dividend Equivalent and credit the Dividend Equivalent Account (without interest) on the applicable dividend payment date with the amount of any such cash paid. 

1.2 Incorporation of Terms of Plan. The PSUs are subject to the terms and conditions set forth in this Agreement and the Plan, which is
incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan will control. 

1.3 Unsecured Promise. The PSUs and Dividend Equivalents will at all times prior to settlement represent an unsecured Company obligation
payable only from the Company’s general assets. 
 ARTICLE II. 

PERFORMANCE; VESTING; FORFEITURE AND SETTLEMENT 

2.1 VWAP Performance. 

(a) Subject to Section 2.1(b) and Sections 2.2 and 2.3 below, the Target PSUs shall be earned and become eligible to vest each Performance
Quarter in the percentages set forth in the table below based on the 20 Day VWAP (as defined below) for such Performance Quarter as set forth in the table; provided that, the number of PSUs earned for a Performance Quarter shall be reduced by the
number of PSUs, if any, earned in any prior Performance Quarter. 
  

					
	 20 Day VWAP
	  	Percentage of Target PSUs	 
	 Below $10.00
	  	 	    0%	 
	 $10.00
	  	 	  25%	 
	 $12.50
	  	 	  50%	 
	 $15.00
	  	 	100%	 
	 $18.50
	  	 	150%	 
	 $22.00
	  	 	200%	 

 To the extent the 20 Day VWAP for a Performance Quarter is between two thresholds set forth
in the table above, the percentage of Target PSUs that are eligible to vest for such Performance Quarter will be determined by straight-line interpolation. 

(b) Notwithstanding anything to the contrary in this Agreement, in no event shall (i) any PSUs vest for a Performance Quarter if the 20
Day VWAP for such Performance Quarter does not (x) equal or exceed $10.00 and (y) exceed the 20 Day VWAP of all prior Performance Quarters and (ii) more than 200% of the Target PSUs become eligible to vest under this Agreement. 

2.2 Vesting and Forfeiture. 

(a) Vesting of Earned PSUs. Except as otherwise provided in Section 2.2(b) and (c), subject to Participant’s continued service
as a Service Provider through each applicable vesting date, the Target PSUs earned in accordance with Section 2.1, if any, will vest in three equal annual installments, with the first installment vesting on the Quarterly Determination Date
applicable to the Performance Quarter for which such PSUs were earned, and the second and third installments vesting on the first and second anniversaries of such Quarterly Determination Date; provided that, any fraction of a PSU that would
otherwise be vested will be accumulated and will vest only when a whole PSU has accumulated. 
 (b) Effect of Termination of Service.

 (i) Death or Disability. In the event of Participant’s Termination of Service due to Participant’s death
or by the Company due to Participant’s Disability, any PSUs earned in accordance with Section 2.1 for Performance Quarters completed on or prior to the date of such Termination of Service, but not yet vested, will vest on the date of such
Termination of Service. Any PSUs that do not vest as of the date of Participant’s Termination of Service due to Participant’s death or by the Company due to Participant’s Disability shall be cancelled and forfeited. 

(ii) Without Cause or for Good Reason. Subject to Section 2.2(b)(iii) below, in the event of Participant’s
Termination of Service by the Company without Cause or due to Participant’s resignation for Good Reason (1) any PSUs earned in accordance with Section 2.1 for Performance Quarters completed on or prior to the date of such Termination
of Service, but not yet vested, will vest on the date of such Termination of Service and (2) with respect to those PSUs otherwise eligible to be earned in accordance with Section 2.1 for the Performance Quarter in which the date of
Participant’s Termination of Service occurs, such PSUs shall remain outstanding and eligible to vest on the first Quarterly Determination Date that occurs following the date of Participant’s Termination of Service in an amount determined
based on the number of Target PSUs that would have been earned pursuant to Section 2.1 based on actual 20 Day VWAP performance for such Performance Quarter, less any PSUs earned in any prior Performance Quarter. Any PSUs that do not vest as of
the date of Participant’s Termination of Service or are not eligible to vest on the first Quarterly Determination Date following the date of Participant’s Termination of Service shall be cancelled and forfeited. 

  
 A-2 

 (iii) Release. As a condition to any vesting of the PSUs as set forth
in Section 2.2(b)(ii) above, Participant shall, within sixty (60) days following the date of Participant’s Termination of Service, execute and not revoke a general release of all claims in favor of the Company and its affiliates in
either (i) a form provided to Participant by the Company or (ii) if Participant is a party to a Relevant Agreement, the form applicable to Participant under such Relevant Agreement. 

(c) Change in Control. Notwithstanding any contrary provision in this Agreement, in the event of a Change in Control, and subject to
Participant’s continued service as a Service Provider through the date of such Change in Control, (i) any PSUs earned in accordance with Section 2.1 for Performance Quarters completed on or prior to the date of such Change in Control,
but not yet vested, will vest on the date of such Change in Control and (ii) with respect to those PSUs remaining eligible to be earned in accordance with Section 2.1, if any, such PSUs shall vest on the date of such Change in Control in
an amount determined based on the number of Target PSUs that would have been earned pursuant to Section 2.1 based on the 20 Day VWAP for a Performance Quarter, less any PSUs earned in any prior Performance Quarter; provided that, for such
purpose, the 20 Day VWAP will be deemed to equal the price or implied price per share of Class A Common Stock in such Change in Control. Any PSUs that do not vest as of the date of such Change in Control shall be cancelled and forfeited. 

2.3 Forfeiture. 
 (a) In
the event of Participant’s Termination of Service for any reason, all unvested PSUs will immediately and automatically be cancelled and forfeited, except as otherwise provided in Section 2.2(b) or as determined by the Administrator.
Dividend Equivalents (including any Dividend Equivalent Account balance) will vest or be forfeited, as applicable, upon the vesting or forfeiture of the PSU with respect to which the Dividend Equivalent (including the Dividend Equivalent Account)
relates. 
 (b) In the event the PSUs do not vest at the maximum level in accordance with Section 2.1, such PSUs that do not vest in
accordance with Section 2.1 shall be forfeited and Participant’s rights in any such PSUs and related Dividend Equivalents shall lapse and expire. 

2.4 Definitions. For purposes of this Agreement, the following definitions shall apply: 

(a) “20 Day VWAP” for a Performance Quarter means the VWAP during the final 20 consecutive trading days of such
Performance Quarter. 
 (b) “Good Reason” means (x) if Participant is a party to a Relevant Agreement in which
the term “good reason” (or term of similar effect) is defined, “Good Reason” as defined in the Relevant Agreement, and (y) if no Relevant Agreement exists or “good reason” is not defined in such Relevant Agreement,
the occurrence of any of the following events or conditions, unless Participant has expressly consented in writing thereto: 

(i) a material reduction in Participant’s annual base salary or, if applicable, target annual bonus; 

(ii) the material diminution of Participant’s duties, responsibilities, powers or authorities, provided that Good Reason
shall not exist under this clause (ii) if such diminution is the result of: (1) the hiring of additional subordinates to fill some of Participant’s duties and responsibilities or (2) any disposition or sale of any Subsidiary or
business of the Company; 
 (iii) the Company requires that Participant’s principal office location be moved to a
location more than fifty (50) miles from Participant’s principal office location immediately before the change without the Participant’s prior consent; or 

  
 A-3 

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

(v) For purposes of this Agreement, Participant shall not have Good Reason for termination unless (1) Participant
reasonably determines in good faith that a “Good Reason” condition has occurred; (2) Participant notifies the Company in writing of the occurrence of the Good Reason condition within sixty (60) days of Participant’s first
becoming aware of such occurrence; (3) Participant cooperates in good faith with the Company’s efforts, for a period not less than thirty (30) days following such notice (the “Good Reason Cure Period”), to cure
the condition, to the extent curable; (4) notwithstanding such efforts, the Good Reason condition continues to exist; and (5) Participant terminates Participant’s employment within sixty (60) days after the end of the Good Reason
Cure Period. If the Company cures the Good Reason condition during the Good Reason Cure Period, Good Reason shall be deemed not to have occurred. 

(c) “Performance Quarter” means, as applicable, each fiscal quarter beginning with Q2 2022 and ending with, and
including, Q4 2025. 
 (d) “Quarterly Determination Date” means the date the Company determines the number of PSUs
that are eligible to vest in accordance with Section 2.1, which date shall occur on or about the last day of the applicable Performance Quarter. 

(e) “VWAP” means the volume-weighted average closing price per share of Class A Common Stock. 

2.5 Settlement. 
 (a) PSUs
and Dividend Equivalents (including any Dividend Equivalent Account balance) will be paid in Shares or cash at the Company’s option as soon as administratively practicable after the vesting of the applicable PSU, but in no event more than
seventy-five (75) days after such date. 
 (b) If a PSU is paid in cash, the amount of cash paid with respect to the PSU will equal the
Fair Market Value of a Share on the day immediately preceding the payment date. If a Dividend Equivalent is paid in Shares, the number of Shares paid with respect to the Dividend Equivalent will equal the quotient, rounded down to the nearest whole
Share, of the Dividend Equivalent Account balance divided by the Fair Market Value of a Share on the day immediately preceding the payment date. 

ARTICLE III. 
 TAXATION
AND TAX WITHHOLDING 
 3.1 Representation. Participant represents to the Company that Participant has reviewed with
Participant’s own tax advisors the tax consequences of this Award and the transactions contemplated by the Grant Notice and this Agreement. Participant is relying solely on such advisors and not on any statements or representations of the
Company or any of its agents. 
 3.2 Tax Withholding. 

(a) The Company has the right and option, but not the obligation, to treat Participant’s failure to provide timely payment in accordance
with the Plan of any withholding tax arising in connection with the PSUs or Dividend Equivalents as Participant’s election to satisfy all or any portion of the withholding tax by requesting the Company retain Shares otherwise issuable under the
Award. 

  
 A-4 

 (b) Participant acknowledges that Participant is ultimately liable and responsible for all
taxes owed in connection with the PSUs and the Dividend Equivalents, regardless of any action the Company or any Subsidiary takes with respect to any tax withholding obligations that arise in connection with the PSUs or Dividend Equivalents. Neither
the Company nor any Subsidiary makes any representation or undertaking regarding the treatment of any tax withholding in connection with the awarding, vesting or payment of the PSUs or the Dividend Equivalents or the subsequent sale of Shares. The
Company and the Subsidiaries do not commit and are under no obligation to structure the PSUs or Dividend Equivalents to reduce or eliminate Participant’s tax liability. 

ARTICLE IV. 
 OTHER
PROVISIONS 
 4.1 Adjustments. Participant acknowledges that the PSUs, the Shares subject to the PSUs and the Dividend
Equivalents are subject to adjustment, modification and termination in certain events as provided in this Agreement and the Plan. 
 4.2
Notices. Any notice to be given under the terms of this Agreement to the Company must be in writing and addressed to the Company in care of the Company’s Secretary at the Company’s principal office or the Secretary’s
then-current email address or facsimile number. Any notice to be given under the terms of this Agreement to Participant must be in writing and addressed to Participant at Participant’s last known mailing address, email address or facsimile
number in the Company’s personnel files. By a notice given pursuant to this Section, either party may designate a different address for notices to be given to that party. Any notice will be deemed duly given when actually received, when sent by
email, when sent by certified mail (return receipt requested) and deposited with postage prepaid in a post office or branch post office regularly maintained by the United States Postal Service, when delivered by a nationally recognized express
shipping company or upon receipt of a facsimile transmission confirmation. 
 4.3 Titles. Titles are provided herein for convenience
only and are not to serve as a basis for interpretation or construction of this Agreement. 
 4.4 Conformity to Securities Laws.
Participant acknowledges that the Plan, the Grant Notice and this Agreement are intended to conform to the extent necessary with all Applicable Laws and, to the extent Applicable Laws permit, will be deemed amended as necessary to conform to
Applicable Laws. 
 4.5 Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple
assignees, and this Agreement will inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth in the Plan, this Agreement will be binding upon and inure to the benefit of the heirs, legatees,
legal representatives, successors and assigns of the parties hereto. 
 4.6 Limitations Applicable to Section 16
Persons. Notwithstanding any other provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, the Plan, the Grant Notice, this Agreement, the PSUs and the Dividend Equivalents will be subject to
any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3) that are requirements for the application of such
exemptive rule. To the extent Applicable Laws permit, this Agreement will be deemed amended as necessary to conform to such applicable exemptive rule. 

4.7 Entire Agreement. The Plan, the Grant Notice and this Agreement (including any exhibit hereto) constitute the entire agreement of
the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof. 

  
 A-5 

 4.8 Agreement Severable. In the event that any provision of the Grant Notice or this
Agreement is held illegal or invalid, the provision will be severable from, and the illegality or invalidity of the provision will not be construed to have any effect on, the remaining provisions of the Grant Notice or this Agreement. 

4.9 Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided.
This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant will have
only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the PSUs and Dividend Equivalents, and rights no greater than the right to receive cash or the Shares as a
general unsecured creditor with respect to the PSUs and Dividend Equivalents, as and when settled pursuant to the terms of this Agreement. 

4.10 Not a Contract of Employment. Nothing in the Plan, the Grant Notice or this Agreement confers upon Participant any right to
continue in the employ or service of the Company or any Subsidiary or interferes with or restricts in any way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the services of
Participant at any time for any reason whatsoever, with or without Cause, except to the extent expressly provided otherwise in a written agreement between the Company or a Subsidiary and Participant. 

4.11 Counterparts. The Grant Notice may be executed in one or more counterparts, including by way of any electronic signature, subject
to Applicable Law, each of which will be deemed an original and all of which together will constitute one instrument. 
 4.12 Section
409A. This Award is not intended to constitute “nonqualified deferred compensation” within the meaning of Section 409A. However, notwithstanding any other provision of the Plan, the Grant Notice or this Agreement, if at any time
the Administrator determines that this Award (or any portion thereof) may be subject to Section 409A, the Administrator shall have the right in its sole discretion (without any obligation to do so or to indemnify Participant or any other person
for failure to do so) to adopt such amendments to the Plan, the Grant Notice or this Agreement, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the
Administrator determines are necessary or appropriate for this Award either to be exempt from the application of Section 409A or to comply with the requirements of Section 409A. 

* * * * * 

  
 A-6

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