Document:

Exhibit 4.2

  

   

    THRYV HOLDINGS, INC.

     

    SECOND AMENDED AND RESTATED BYLAWS

     

    (Adopted by the Board of Directors on September 3, 2020)

     

    ARTICLE I

      OFFICES

     

    Section 1.01 Registered Office. The registered office of Thryv Holdings, Inc. (the “Corporation”)
      will be fixed in the Certificate of Incorporation of the Corporation (the “Certificate of Incorporation”).

     

    Section 1.02 Other Offices. The Corporation may have other offices, both within and without the State of
      Delaware, as the board of directors of the Corporation (the “Board of Directors”) from time to time shall determine or the business of the Corporation may require.

     

    ARTICLE II

      MEETINGS OF THE STOCKHOLDERS

     

    Section 2.01 Place of Meetings. All meetings of the stockholders shall be held at such place, if any,
      either within or without the State of Delaware, or by means of remote communication, as shall be designated from time to time by resolution of the Board of Directors and stated in the notice of meeting.

     

    Section 2.02 Annual Meeting. The annual meeting of the stockholders for the election of directors and for
      the transaction of such other business as may properly come before the meeting in accordance with these bylaws (these “Bylaws”) shall be held at such date, time, and place, if any, as shall be determined by the Board of Directors and stated in
      the notice of the meeting.

     

    Section 2.03 Special Meetings. Except as otherwise required by law and subject to the rights of the
      holders of any series of Preferred Stock (as defined in the Certificate of Incorporation), special meetings of stockholders of the Corporation for any purpose or purposes shall be called only by the Board of Directors, the Chair of the Board (as
      defined in Section 3.17) or the President and Chief Executive Officer (as such terms are defined in Section 4.01) of the Corporation.

     

    Section 2.04 Adjournments. Any meeting of the stockholders, annual or special, may be adjourned from time
      to time to reconvene at the same or some other place, if any, and notice need not be given of any such adjourned meeting if the time, place, if any, thereof and the means of remote communication, if any, are announced at the meeting at which the
      adjournment is taken. At the adjourned meeting, the Corporation may transact any business which might have been transacted at the original meeting. If the adjournment is for more than 30 days, a notice of the adjourned meeting shall be given to each
      stockholder of record entitled to vote at the meeting. If after the adjournment a new record date is fixed for stockholders entitled to vote at the adjourned meeting, the Board of Directors shall fix a new record date for notice of the adjourned
      meeting and shall give notice of the adjourned meeting to each stockholder of record entitled to vote at the adjourned meeting as of the record date fixed for notice of the adjourned meeting.

      

    

    Section 2.05 Notice of Meetings. Notice of the place (if any), date, hour, the record date for determining
      the stockholders entitled to vote at the meeting (if such date is different from the record date for stockholders entitled to notice of the meeting), and means of remote communication, if any, of every meeting of stockholders shall be given by the
      Corporation not less than ten days nor more than 60 days before the meeting (unless a different time is specified by law) to every stockholder entitled to vote at the meeting as of the record date for determining the stockholders entitled to notice
      of the meeting. Notices of special meetings shall also specify the purpose or purposes for which the meeting has been called. Notices of meetings to stockholders may be given by mailing the same, addressed to the stockholder entitled thereto, at such
      stockholder’s mailing address as it appears on the records of the Corporation and such notice shall be deemed to be given when deposited in the U.S. mail, postage prepaid. Without limiting the manner by which notices of meetings otherwise may be
      given effectively to stockholders, any such notice may be given by electronic transmission in the manner provided in Section 232 of the Delaware General Corporation Law (the “DGCL”). Notice of any meeting need not be given to any stockholder who
      shall, either before or after the meeting, submit a waiver of notice or who shall attend such meeting, except when the stockholder attends for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business
      because the meeting is not lawfully called or convened. Any stockholder so waiving notice of the meeting shall be bound by the proceedings of the meeting in all respects as if due notice thereof had been given.

    
      
        

    

     

    Section 2.06 List of Stockholders. The Corporation shall prepare a complete list of the stockholders
      entitled to vote at any meeting of stockholders (provided, however, if the record date for determining the stockholders entitled to vote is less than ten days before the date of the meeting, the list shall
      reflect the stockholders entitled to vote as of the tenth day before the meeting date), arranged in alphabetical order, and showing the address of each stockholder and the number of shares of capital stock of the Corporation registered in the name of
      each stockholder at least ten days before any meeting of the stockholders. Such list shall be open to the examination of any stockholder, for any purpose germane to the meeting for a period of at least ten days before the meeting: (a) on a reasonably
      accessible electronic network, provided that the information required to gain access to such list was provided with the notice of the meeting; or (b) during ordinary business hours, at the principal place of business of the Corporation. If the
      meeting is to be held at a place, the list shall also be produced and kept at the time and place of the meeting the whole time thereof and may be inspected by any stockholder who is present. If the meeting is held solely by means of remote
      communication, the list shall also be open for inspection by any stockholder during the whole time of the meeting as provided by applicable law. Except as provided by applicable law, the stock ledger of the Corporation shall be the only evidence as
      to who are the stockholders entitled to examine the stock ledger and the list of stockholders or to vote in person or by proxy at any meeting of stockholders.

     

    Section 2.07 Quorum. Unless otherwise required by law, the Certificate of Incorporation or these Bylaws,
      at each meeting of the stockholders, a majority in voting power of the shares of the Corporation entitled to vote at the meeting, present in person or represented by proxy, shall constitute a quorum. If, however, such quorum shall not be present or
      represented at any meeting of the stockholders, the chair of the meeting or the stockholders entitled to vote thereat, present in person or represented by proxy, shall have power, by the affirmative vote of a majority in voting power thereof, to
      adjourn the meeting from time to time, in the manner provided in Section 2.04, until a quorum shall be present or represented. A quorum, once established, shall not be broken by the subsequent withdrawal of enough votes to leave less than a quorum.
      At any such adjourned meeting at which there is a quorum, any business may be transacted that might have been transacted at the meeting originally called.

     

    Section 2.08 Organization. The Board of Directors may adopt by resolution such rules and regulations for
      the conduct of the meeting of the stockholders as it shall deem appropriate. At every meeting of the stockholders, the Chair of the Board (as defined in Section 3.17), or in his or her absence or inability to act, the Chief Executive Officer (as
      defined in Section 4.01), or in his or her absence or inability to act, the officer or director whom the Board of Directors shall appoint, shall act as chair of, and preside at, the meeting. The Secretary (as defined in Section 4.01) or, in his or
      her absence or inability to act, the person whom the chair of the meeting shall appoint secretary of the meeting, shall act as secretary of the meeting and keep the minutes thereof. Except to the extent inconsistent with such rules and regulations as
      adopted by the Board of Directors, the chair of any meeting of the stockholders shall have the right and authority to prescribe such rules, regulations, and procedures and to do all such acts as, in the judgment of such chair, are appropriate for the
      proper conduct of the meeting. Such rules, regulations, or procedures, whether adopted by the Board of Directors or prescribed by the chair of the meeting, may include, without limitation, the following:

     

    (a) the establishment of an agenda or order of business for the meeting;

     

    (b) the determination of when the polls shall open and close for any given matter to be voted on at the meeting;

     

    (c) rules and procedures for maintaining order at the meeting and the safety of those present;

     

    (d) limitations on attendance at or participation in the meeting to stockholders of record of the Corporation, their duly authorized and constituted proxies, or
      such other persons as the chair of the meeting shall determine;

     

    (e) restrictions on entry to the meeting after the time fixed for the commencement thereof; and

     

    (f) limitations on the time allotted to questions or comments by participants.

    
      
        

    

     

    Section 2.09 Voting; Proxies.

     

    (a) General. Unless otherwise required by law or provided in the Certificate of Incorporation, each stockholder shall be
      entitled to one vote, in person or by proxy, for each share of capital stock held by such stockholder.

     

    (b) Election of Directors. The election of directors need not be by written ballot. Unless otherwise required by law, the
      Certificate of Incorporation, or these Bylaws, the election of directors shall be decided by a plurality of the votes cast at a meeting of the stockholders by the holders of stock entitled to vote in the election.

     

     (c) Other Matters. Unless otherwise required by law, the Certificate of Incorporation, or these Bylaws, any matter, other
      than the election of directors, brought before any meeting of stockholders shall be decided by the affirmative vote of the majority of shares present in person or represented by proxy at the meeting and entitled to vote on the matter.

     

    (d) Proxies. Each stockholder entitled to vote at a meeting of stockholders may authorize another person or persons to act
      for such stockholder by proxy, but no such proxy shall be voted or acted upon after three years from its date, unless the proxy provides for a longer period. Such authorization may be in a writing executed by the stockholder or his or her authorized
      officer, director, employee, or agent. To the extent permitted by law, a stockholder may authorize another person or persons to act for him or her as proxy by transmitting or authorizing the transmission of an electronic transmission to the person
      who will be the holder of the proxy or to a proxy solicitation firm, proxy support service organization, or like agent duly authorized by the person who will be the holder of the proxy to receive such transmission, provided that the electronic
      transmission either sets forth or is submitted with information from which it can be determined that the electronic transmission was authorized by the stockholder. A copy, facsimile transmission, or other reliable reproduction of the proxy authorized
      by this Section 2.09(d) may be substituted for or used in lieu of the original writing or electronic transmission for any and all purposes for which the original writing or electronic transmission could be used, provided that such copy, facsimile
      transmission, or other reproduction shall be a complete reproduction of the entire original writing or electronic transmission. A proxy shall be irrevocable if it states that it is irrevocable and if, and only as long as, it is coupled with an
      interest sufficient in law to support an irrevocable power. A stockholder may revoke any proxy that is not irrevocable by attending the meeting and voting in person or by delivering to the Secretary a revocation of the proxy or a new proxy bearing a
      later date.

     

    Section 2.10 Inspectors at Meetings of Stockholders. In advance of any meeting of the stockholders, the
      Board of Directors shall, appoint one or more inspectors, who may be employees of the Corporation, to act at the meeting or any adjournment thereof and make a written report thereof. The Board of Directors may designate one or more persons as
      alternate inspectors to replace any inspector who fails to act. If no inspector or alternate is able to act at a meeting, the person presiding at the meeting shall appoint one or more inspectors to act at the meeting. Each inspector, before entering
      upon the discharge of his or her duties, shall take and sign an oath faithfully to execute the duties of inspector with strict impartiality and according to the best of his or her ability. The inspector or inspectors may appoint or retain other
      persons or entities to assist the inspector or inspectors in the performance of their duties. In determining the validity and counting of proxies and ballots cast at any meeting of stockholders, the inspector or inspectors may consider such
      information as is permitted by applicable law. No person who is a candidate for office at an election may serve as an inspector at such election. When executing the duties of inspector, the inspector or inspectors shall:

     

    (a) ascertain the number of shares outstanding and the voting power of each;

     

    (b) determine the shares represented at the meeting and the validity of proxies and ballots;

     

    (c) count all votes and ballots;

     

    (d) determine and retain for a reasonable period a record of the disposition of any challenges made to any determination by the inspectors; and

     

    (e) certify their determination of the number of shares represented at the meeting and their count of all votes and ballots.

    
      
        

    

     

    Section 2.11 Fixing the Record Date.

     

    (a) In order that the Corporation may determine the stockholders entitled to notice of or to vote at any meeting of stockholders or any adjournment thereof, the
      Board of Directors may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted by the Board of Directors, and which record date shall not be more than 60 nor less than ten days
      before the date of such meeting. If no record date is fixed by the Board of Directors, the record date for determining stockholders entitled to notice of or to vote at a meeting of stockholders shall be at the close of business on the day next
      preceding the day on which notice is given, or, if notice is waived, at the close of business on the day next preceding the day on which the meeting is held. A determination of stockholders of record entitled to notice of or to vote at a meeting of
      stockholders shall apply to any adjournment of the meeting; provided, however, that the Board of Directors may fix a new record date for the determination of stockholders entitled to notice of or to vote at
      the adjourned meeting.

     

    (b) In order that the Corporation may determine the stockholders entitled to receive payment of any dividend or other distribution or allotment of any rights or the
      stockholders entitled to exercise any rights in respect of any change, conversion, or exchange of stock, or for the purpose of any other lawful action, the Board of Directors may fix a record date, which record date shall not precede the date upon
      which the resolution fixing the record date is adopted, and which record date shall be not more than 60 days prior to such action. If no record date is fixed, the record date for determining stockholders for any such purpose shall be at the close of
      business on the day on which the Board of Directors adopts the resolution relating thereto.

     

    Section 2.12 Advance Notice of Stockholder Nominations and Proposals.

     

    (a) Annual Meetings. At a meeting of the stockholders, only such nominations of persons for the election of directors and
      such other business shall be conducted as shall have been properly brought before the meeting. To be properly brought before an annual meeting, nominations or such other business must be:

     

    (i) specified in the notice of meeting (or any supplement thereto) given by or at the direction of the Board of Directors
      or any committee thereof;

     

    (ii) otherwise properly brought before the meeting by or at the direction of the Board of Directors or any committee
      thereof; or

     

    (iii) otherwise properly brought before an annual meeting by a stockholder who is a stockholder of record of the
      Corporation at the time such notice of meeting is delivered, who is entitled to vote at the meeting, and who complies with the notice procedures set forth in this Section 2.12.

    
      
        

    

     

    In addition, any proposal of business (other than the nomination of persons for election to the Board of Directors) must be a proper matter for stockholder action. For business (including, but not
      limited to, director nominations) to be properly brought before an annual meeting by a stockholder pursuant to Section 2.12(a)(iii), the stockholder or stockholders of record intending to propose the business (the “Proposing Stockholder”) must
      have given timely notice thereof pursuant to this Section 2.12(a), in writing to the Secretary even if such matter is already the subject of any notice to the stockholders or Public Disclosure from the Board of Directors. To be timely, a Proposing
      Stockholder’s notice for an annual meeting must be delivered to or mailed and received at the principal executive offices of the Corporation: (x) not later than the close of business on the 90th day, nor earlier than the close of business on the
      120th day, in advance of the anniversary of the previous year’s annual meeting if such meeting is to be held on a day which is not more than 30 days in advance of the anniversary of the previous year’s annual meeting or not later than 60 days after
      the anniversary of the previous year’s annual meeting; and (y) with respect to any other annual meeting of stockholders, including in the event that no annual meeting was held in the previous year, not earlier than the close of business on the 120th
      day prior to the annual meeting and not later than the close of business on the later of: (1) the 90th day prior to the annual meeting and (2) the close of business on the tenth day following the first date of Public Disclosure of the date of such
      meeting. In no event shall the Public Disclosure of an adjournment or postponement of an annual meeting commence a new notice time period (or extend any notice time period). For the purposes of this Section 2.12, “Public Disclosure” shall mean
      a disclosure made in a press release reported by the Dow Jones News Services, The Associated Press, or a comparable national news service or in a document filed by the Corporation with the Securities and Exchange Commission (“SEC”) pursuant to
      Section 13, 14, or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

     

    (b) Stockholder Nominations. For the nomination of any person or persons for election to the Board of Directors pursuant to
      Section 2.12(a)(iii) or Section 2.12(d), a Proposing Stockholder’s notice to the Secretary shall set forth or include:

     

    (i) the name, age, business address, and residence address of each nominee proposed in such notice;

     

    (ii) the principal occupation or employment of each such nominee;

     

    (iii) the class and number of shares of capital stock of the Corporation which are owned of record and beneficially by each
      such nominee (if any);

     

    

    (iv) such other information concerning each such nominee as would be required to be disclosed in a proxy statement
      soliciting proxies for the election of such nominee as a director in an election contest (even if an election contest is not involved) or that is otherwise required to be disclosed, under Section 14(a) of the Exchange Act; and

     

    (v) a written questionnaire with respect to the background and qualification of such proposed nominee (which questionnaire
      shall be provided by the Secretary upon written request).

     

    The Corporation may require any proposed nominee to furnish such other information as it may reasonably require to determine the eligibility of such proposed nominee to serve as an
      independent director of the Corporation or that could be material to a reasonable stockholder’s understanding of the independence, or lack thereof, of such nominee.

     

    (c) Other Stockholder Proposals. For all business other than director nominations, a Proposing Stockholder’s notice to the
      Secretary shall set forth as to each matter the Proposing Stockholder proposes to bring before the annual meeting:

     

    (i) a brief description of the business desired to be brought before the annual meeting;

     

    (ii) the reasons for conducting such business at the annual meeting;

    
      
        

    

     

    (iii) the text of any proposal or business (including the text of any resolutions proposed for consideration and in the
      event that such business includes a proposal to amend these Bylaws, the language of the proposed amendment);

     

    (iv) any substantial interest (within the meaning of Item 5 of Schedule 14A under the Exchange Act) in such business of
      such stockholder and the beneficial owner (within the meaning of Section 13(d) of the Exchange Act), if any, on whose behalf the business is being proposed;

     

    (v) any other information relating to such stockholder and beneficial owner, if any, on whose behalf the proposal is being
      made, required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for the proposal and pursuant to and in accordance with Section 14(a) of the Exchange Act and the rules and
      regulations promulgated thereunder; and

     

    (vi) a description of all agreements, arrangements, or understandings between or among such stockholder, the beneficial
      owner, if any, on whose behalf the proposal is being made, any of their affiliates or associates, and any other person or persons (including their names) in connection with the proposal of such business and any material interest of such stockholder,
      beneficial owner, or any of their affiliates or associates, in such business, including any anticipated benefit therefrom to such stockholder, beneficial owner, or their affiliates or associates.

     

    (d) Special Meetings of Stockholders. Only such business shall be conducted at a special meeting of stockholders as shall
      have been brought before the meeting pursuant to the Corporation’s notice of meeting. Nominations of persons for election to the Board of Directors may be made at a special meeting of stockholders called by the Board of Directors at which directors
      are to be elected pursuant to the Corporation’s notice of meeting:

     

    (i) by or at the direction of the Board of Directors or any committee thereof; or

     

    (ii) provided that the Board of Directors has determined that directors shall be elected at such meeting, by any
      stockholder of the Corporation who is a stockholder of record at the time the notice provided for in this Section 2.12(d) is delivered to the Secretary, who is entitled to vote at the meeting, and upon such election and who complies with the notice
      procedures set forth in this Section 2.12.

     

    In the event the Corporation calls a special meeting of stockholders for the purpose of electing one or more directors to the Board of Directors, any such stockholder entitled to vote in such election
      of directors may nominate a person or persons (as the case may be) for election to such position(s) as specified in the Corporation’s notice of meeting, if such stockholder delivers a stockholder’s notice that complies with the requirements of
      Section 2.12(b) to the Secretary at the Corporation’s principal executive offices not earlier than the close of business on the 120th day prior to such special meeting and not later than the close of business on the later of: (x) the 90th day prior
      to such special meeting; or (y) the tenth day following the date of the first Public Disclosure of the date of the special meeting and of the nominees proposed by the Board of Directors to be elected at such meeting. In no event shall the Public
      Disclosure of an adjournment or postponement of a special meeting commence a new time period (or extend any notice time period).

     

    (e) Effect of Noncompliance. Only such persons who are nominated in accordance with the procedures set forth in this Section
      2.12 shall be eligible to be elected at any meeting of stockholders of the Corporation to serve as directors and only such other business shall be conducted at a meeting as shall be brought before the meeting in accordance with the procedures set
      forth in this Section 2.12. If any proposed nomination was not made or proposed in compliance with this Section 2.12, or other business was not made or proposed in compliance with this Section 2.12, then except as otherwise required by law, the chair
      of the meeting shall have the power and duty to declare that such nomination shall be disregarded or that such proposed other business shall not be transacted. Notwithstanding anything in these Bylaws to the contrary, unless otherwise required by
      law, if a Proposing Stockholder intending to propose business or make nominations at an annual meeting or propose a nomination at a special meeting pursuant to this Section 2.12 does not provide the information required under this Section 2.12 to the
      Corporation, within five business days after the record date for such meeting or the Proposing Stockholder (or a qualified representative of the Proposing Stockholder) does not appear at the meeting to present the proposed business or nominations,
      such business or nominations shall not be considered, notwithstanding that proxies in respect of such business or nominations may have been received by the Corporation.

    
      
        

    

     

    Section 2.13 No Action by Stockholder Consent in Lieu of a Meeting. Subject to the rights of the holders
      of any series of Preferred Stock (as defined in the Certificate of Incorporation), from and after the time that Mudrick Capital Management, L.P. (“Mudrick”) and its affiliates collectively beneficially own (as shall be determined in accordance with
      Rules 13d-3 and 13d-5 of the Exchange Act, less than forty (40%) of the then outstanding shares of the Common Stock (as defined in the Certificate of Incorporation), then any action required or permitted to be taken by the stockholders of the
      Corporation must be effected at a duly called annual or special meeting of the stockholders of Corporation and may not be effected by any consent by such stockholders. For purposes of this Section 2.13, “affiliates” shall mean, with respect to a
      given person, any person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified; provided, however, that for the
      purposes of this definition none of (i) the Corporation, its subsidiaries and any entities (including corporations, partnerships, limited liability companies or other persons) in which the Corporation or its subsidiaries hold, directly or indirectly,
      an ownership interest, on the one hand, or (ii) Mudrick and its affiliates (excluding the Corporation, its subsidiaries or other entities described in clause (i)), on the other hand, shall be deemed to be “affiliates” of one another. For purposes of
      this definition, “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”) as applied to any person means the possession, direct or indirect, of the power to direct or cause the direction of the
      management policies of a person, whether through the ownership of voting securities, by contract, or otherwise.

     

    ARTICLE III

      BOARD OF DIRECTORS

     

    Section 3.01 General Powers. The business and affairs of the Corporation shall be managed by or under the
      direction of the Board of Directors. The Board of Directors may adopt such rules and procedures, not inconsistent with the Certificate of Incorporation, these Bylaws, or applicable law, as it may deem proper for the conduct of its meetings and the
      management of the Corporation.

     

    Section 3.02 Number; Term of Office. Except as may be set forth in the Certificate of Incorporation then
      in effect, the number of directors who shall constitute the whole Board of Directors shall be such number as the Board of Directors shall from time to time have designated, except that in the absence of any such designation, such number shall be
      seven. Each director shall hold office until a successor is duly elected and qualified or until the director’s earlier death, resignation, disqualification, or removal.

     

    Section 3.03 Newly Created Directorships and Vacancies. Any newly created directorships resulting from an
      increase in the authorized number of directors and any vacancies occurring in the Board of Directors, may be filled by the affirmative votes of a majority of the remaining members of the Board of Directors, although less than a quorum, or by a sole
      remaining director. A director so elected shall be elected to hold office until the earlier of the expiration of the term of office of the director whom he or she has replaced, a successor is duly elected and qualified, or the earlier of such
      director’s death, resignation, or removal.

     

    Section 3.04 Resignation. Any director may resign at any time by notice given in writing or by electronic
      transmission to the Corporation. Such resignation shall take effect at the date of receipt of such notice by the Corporation or at such later effective date or upon the happening of an event or events as is therein specified.

     

    Section 3.05 Removal. Except as prohibited by applicable law or the Certificate of Incorporation, the
      stockholders holding a majority of the shares then entitled to vote at an election of directors may remove any director from office with cause.

     

    Section 3.06 Fees and Expenses. Directors shall receive such reasonable fees for their services on the
      Board of Directors and any committee thereof and such reimbursement of their actual and reasonable expenses as may be fixed or determined by the Board of Directors.

    
      
        

    

     

    Section 3.07 Regular Meetings. Regular meetings of the Board of Directors may be held without notice at
      such times and at such places as may be determined from time to time by the Board of Directors.

     

    Section 3.08 Special Meetings. Special meetings of the Board of Directors may be held at such times and at
      such places as may be determined by the Chair of the Board or the Chief Executive Officer on at least 24 hours’ notice to each director given by one of the means specified in Section 3.11 hereof other than by mail or on at least three days’ notice if
      given by mail. Special meetings shall be called by the Chair of the Board or the Chief Executive Officer in like manner and on like notice on the written request of any two or more directors. The notice need not state the purposes of the special
      meeting and, unless indicated in the notice thereof, any and all business may be transacted at a special meeting.

     

    Section 3.09 Telephone Meetings. Board of Directors meetings or Board of Directors committee meetings may
      be held by means of telephone conference or other communications equipment by means of which all persons participating in the meeting can hear each other and be heard. Participation by a director in a meeting pursuant to this Section 3.09 shall
      constitute presence in person at such meeting.

     

    Section 3.10 Adjourned Meetings. A majority of the directors present at any meeting of the Board of
      Directors, including an adjourned meeting, whether or not a quorum is present, may adjourn and reconvene such meeting to another time and place. At least 24 hours’ notice of any adjourned meeting of the Board of Directors shall be given to each
      director whether or not present at the time of the adjournment, if such notice shall be given by one of the means specified in Section 3.11 hereof other than by mail, or at least three days’ notice if by mail. Any business may be transacted at an
      adjourned meeting that might have been transacted at the meeting as originally called.

     

    Section 3.11 Notices. Subject to Section 3.08, Section 3.10, and Section 3.12 hereof, whenever notice is
      required to be given to any director by applicable law, the Certificate of Incorporation, or these Bylaws, such notice shall be deemed given effectively if given in person or by telephone, mail addressed to such director at such director’s address as
      it appears on the records of the Corporation, facsimile, e-mail, or by other means of electronic transmission.

     

    Section 3.12 Waiver of Notice. Whenever notice to directors is required by applicable law, the Certificate
      of Incorporation, or these Bylaws, a waiver thereof, in writing signed by, or by electronic transmission by, the director entitled to the notice, whether before or after such notice is required, shall be deemed equivalent to notice. Attendance by a
      director at a meeting shall constitute a waiver of notice of such meeting except when the director attends a meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business on the ground that the
      meeting was not lawfully called or convened. Neither the business to be transacted at, nor the purpose of, any regular or special Board of Directors or committee meeting need be specified in any waiver of notice.

     

    Section 3.13 Organization. At each regular or special meeting of the Board of Directors, the Chair of the
      Board or, in his or her absence, another director or officer selected by the Board of Directors shall preside. The Secretary shall act as secretary at each meeting of the Board of Directors. If the Secretary is absent from any meeting of the Board of
      Directors, an assistant secretary of the Corporation shall perform the duties of secretary at such meeting; and in the absence from any such meeting of the Secretary and all assistant secretaries of the Corporation, the person presiding at the
      meeting may appoint any person to act as secretary of the meeting.

     

    Section 3.14 Quorum of Directors. Except as otherwise provided by these Bylaws, the Certificate of
      Incorporation, or required by applicable law, the presence of a majority of the total number of directors on the Board of Directors shall be necessary and sufficient to constitute a quorum for the transaction of business at any meeting of the Board
      of Directors.

     

    Section 3.15 Action by Majority Vote. Except as otherwise provided by these Bylaws, the Certificate of
      Incorporation, or required by applicable law, the vote of a majority of the directors present at a meeting at which a quorum is present shall be the act of the Board of Directors.

    
      
        

    

     

    Section 3.16 Directors’ Action Without Meeting. Unless otherwise restricted by the Certificate of
      Incorporation or these Bylaws, any action required or permitted to be taken at any meeting of the Board of Directors or of any committee thereof may be taken without a meeting if all directors or members of such committee, as the case may be, consent
      thereto in writing or by electronic transmission.

     

    Section 3.17 Chair of the Board. The Board of Directors may elect one of its members to be its chair (the
      “Chair of the Board”) and shall fill any vacancy in the position of Chair of the Board at such time and in such manner as the Board of Directors shall determine. Except as otherwise provided in these Bylaws, the Chair of the Board shall
      preside at all meetings of the Board of Directors and of stockholders. The Chair of the Board shall perform such other duties and services as shall be assigned to or required of the Chair of the Board by the Board of Directors.

     

    Section 3.18 Committees of the Board of Directors. The Board of Directors may designate one or more
      committees, each committee to consist of one or more of the directors of the Corporation. The Board of Directors may appoint a chair of any committee, who shall preside at meetings of any such committee. The Board of Directors may designate one or
      more directors as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee. If a member of a committee shall be absent from any meeting, or disqualified from voting thereat, the remaining
      member or members present at the meeting and not disqualified from voting, whether or not such member or members constitute a quorum, may unanimously appoint another member of the Board of Directors to act at the meeting in the place of any such
      absent or disqualified member. Any such committee, to the extent permitted by applicable law, shall have and may exercise all the powers and authority of the Board of Directors in the management of the business and affairs of the Corporation and may
      authorize the seal of the Corporation to be affixed to all papers that may require it to the extent so authorized by the Board of Directors. Unless the Board of Directors provides otherwise, at all meetings of such committee, a majority of the then
      authorized members of the committee shall constitute a quorum for the transaction of business, and the vote of a majority of the members of the committee present at any meeting at which there is a quorum shall be the act of the committee. Each
      committee shall keep regular minutes of its meetings. Unless the Board of Directors provides otherwise, each committee designated by the Board of Directors may make, alter and repeal rules and procedures for the conduct of its business. In the
      absence of such rules and procedures each committee shall conduct its business in the same manner as the Board of Directors conducts its business pursuant to this ARTICLE III.

     

    ARTICLE IV

      OFFICERS

     

    Section 4.01 Positions and Election. The officers of the Corporation shall be chosen by the Board of
      Directors and shall include a chief executive officer (the “Chief Executive Officer”), a president (the “President”), a chief financial officer (the “Chief Financial Officer”), a treasurer
      (the “Treasurer”), and a secretary (the “Secretary”). The Board of Directors, in its discretion, may also elect one or more vice presidents, assistant treasurers, assistant secretaries, and other officers in accordance with these
      Bylaws. Any two or more offices may be held by the same person.

     

    Section 4.02 Term. Each officer of the Corporation shall hold office until such officer’s successor is
      elected and qualified or until such officer’s earlier death, resignation, or removal. Any officer elected or appointed by the Board of Directors may be removed by the Board of Directors at any time with or without cause by the majority vote of the
      members of the Board of Directors then in office. The removal of an officer shall be without prejudice to his or her contract rights, if any. The election or appointment of an officer shall not of itself create contract rights. Any officer of the
      Corporation may resign at any time by giving written notice of his or her resignation to the President or the Secretary. Any such resignation shall take effect at the time specified therein or, if the time when it shall become effective shall not be
      specified therein, immediately upon its receipt. Unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective. Should any vacancy occur among the officers, the position shall be filled for the
      unexpired portion of the term by appointment made by the Board of Directors.

     

    Section 4.03 Chief Executive Officer. The Chief Executive Officer shall, subject to the provisions of
      these Bylaws and the control of the Board of Directors, have general supervision, direction, and control over the business of the Corporation and over its officers. The Chief Executive Officer shall perform all duties incident to the office of the
      Chief Executive Officer, and any other duties as may be from time to time assigned to the Chief Executive Officer by the Board of Directors, in each case subject to the control of the Board of Directors.

    
      
        

    

     

    Section 4.04 President. The President shall report and be responsible to the Chief Executive Officer. The
      President shall have such powers and perform such duties as from time to time may be assigned or delegated to the President by the Board of Directors or the Chief Executive Officer or that are incident to the office of president.

     

    Section 4.05 Vice Presidents. Each vice president of the Corporation shall have such powers and perform
      such duties as may be assigned to him or her from time to time by the Board of Directors, the Chief Executive Officer, or the President, or that are incident to the office of vice president.

     

    Section 4.06 Secretary. The Secretary shall attend all sessions of the Board of Directors and all meetings
      of the stockholders and record all votes and the minutes of all proceedings in a book to be kept for that purpose, and shall perform like duties for committees of the Board of Directors when required. He or she shall give, or cause to be given,
      notice of all meetings of the stockholders and meetings of the Board of Directors, and shall perform such other duties as may be prescribed by the Board of Directors, the Chair of the Board, or the Chief Executive Officer. The Secretary shall keep in
      safe custody the seal of the Corporation and have authority to affix the seal to all documents requiring it and attest to the same.

     

    Section 4.07 Chief Financial Officer. The Chief Financial Officer shall be the principal financial officer
      of the Corporation and shall have such powers and perform such duties as may be assigned by the Board of Directors, the Chair of the Board, or the Chief Executive Officer.

     

    Section 4.08 Treasurer. The Treasurer of the Corporation shall have the custody of the Corporation’s funds
      and securities, except as otherwise provided by the Board of Directors, and shall keep full and accurate accounts of receipts and disbursements in records belonging to the Corporation and shall deposit all moneys and other valuable effects in the
      name and to the credit of the Corporation in such depositories as may be designated by the Board of Directors. The Treasurer shall disburse the funds of the Corporation as may be ordered by the Board of Directors, Chief Executive Officer or Chief
      Financial Officer, taking proper vouchers for such disbursements, and shall render to the Chief Executive Officer and the President and the directors, at the regular meetings of the Board of Directors, or whenever they may require it, an account of
      all his or her Transactions as treasurer and of the financial condition of the Corporation.

     

    Section 4.09 Other Officers. Such other officers as the Board of Directors may choose shall perform such
      duties and have such powers as from time to time may be assigned to them by the Board of Directors. The Board of Directors may delegate to any other officer of the Corporation the power to choose such other officers and to prescribe their respective
      duties and powers.

     

    Section 4.10 Duties of Officers May Be Delegated. In case any officer is absent, or for any other reason
      that the Board of Directors may deem sufficient, the Chief Executive Officer or the President or the Board of Directors may delegate for the time being the powers or duties of such officer to any other officer or to any director.

     

    ARTICLE V

      INDEMNIFICATION

     

    Section 5.01 Indemnification. The Corporation shall indemnify and hold harmless to the fullest extent
      permitted by applicable law as it presently exists or may hereafter be amended, any person who was or is made or is threatened to be made a party in any action, suit, or proceeding, whether civil, criminal, administrative, or investigative (a “Proceeding”),

      by reason of the fact that he or she, or a person for whom he or she is the legal representative, is or was a director or officer of the Corporation or, while a director or officer of the Corporation, is or was serving at the request of the
      Corporation as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, enterprise, or nonprofit entity, including service with respect to employee benefit plans, against all liability and loss suffered and
      expenses (including attorneys’ fees) actually and reasonably incurred by such person. Notwithstanding the preceding sentence, the Corporation shall be required to indemnify a person in connection with a Proceeding (or part thereof) commenced by such
      person only if the commencement of such Proceeding (or part thereof) by the person was authorized in the specific case by the Board of Directors.

    
      
        

    

     

    Section 5.02 Advancement of Expenses. The Corporation shall pay the expenses (including attorneys’ fees)
      actually and reasonably incurred by a director or officer of the Corporation in defending any Proceeding in advance of its final disposition, upon receipt of an undertaking by or on behalf of such person to repay all amounts advanced if it shall
      ultimately be determined by final judicial decision from which there is no further right to appeal that such person is not entitled to be indemnified for such expenses under this Section 5.02 or otherwise. Payment of such expenses actually and
      reasonably incurred by such person, may be made by the Corporation, subject to such terms and conditions as the general counsel of the Corporation in his or her discretion deems appropriate.

     

    Section 5.03 Non-Exclusivity of Rights. The rights conferred on any person by this ARTICLE V will not be
      exclusive of any other right which such person may have or hereafter acquire under any statute, provision of the Certificate of Incorporation, these Bylaws, agreement, vote of stockholders or disinterested directors, or otherwise, both as to action
      in his or her official capacity and as to action in another capacity while holding office. The Corporation is specifically authorized to enter into individual contracts with any or all of its directors, officers, employees, or agents respecting
      indemnification and advances, to the fullest extent not prohibited by the DGCL.

     

    Section 5.04 Other Indemnification. The Corporation’s obligation, if any, to indemnify any person who was
      or is serving at its request as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, enterprise, or nonprofit entity shall be reduced by any amount such person may collect as indemnification from such
      other corporation, partnership, joint venture, trust, enterprise, or nonprofit entity.

     

    Section 5.05 Insurance. The Corporation may purchase and maintain insurance on behalf of any person who
      is or was a director, officer, employee, or agent of the Corporation, or is or was serving at the request of Corporation as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, enterprise, or nonprofit
      entity against any liability asserted against him or her and incurred by him or her in any such capacity, or arising out of his or her status as such, whether or not the Corporation would have the power to indemnify him or her against such liability
      under the provisions of the DGCL.

     

    Section 5.06 Repeal, Amendment, or Modification. Any amendment, repeal, or modification of this ARTICLE V
      shall not adversely affect any right or protection hereunder of any person in respect of any act or omission occurring prior to the time of such repeal or modification.

     

    ARTICLE VI

      STOCK CERTIFICATES AND THEIR TRANSFER

     

    Section 6.01 Certificates Representing Shares. The shares of the Corporation’s stock may be certificated
      or uncertificated as provided under the DGCL. If shares are represented by certificates, such certificates shall be in the form, other than bearer form, approved by the Board of Directors. The certificates representing shares of stock shall be signed
      by, or in the name of, the Corporation by any two authorized officers of the Corporation. Any or all such signatures may be facsimiles. Although any officer, transfer agent, or registrar whose manual or facsimile signature is affixed to such a
      certificate ceases to be such officer, transfer agent, or registrar before such certificate has been issued, it may nevertheless be issued by the Corporation with the same effect as if such officer, transfer agent, or registrar were still such at the
      date of its issue.

     

    Section 6.02 Transfers of Stock. Stock of the Corporation shall be transferable in the manner prescribed
      by law and in these Bylaws. Transfers of stock shall be made on the books administered by or on behalf of the Corporation only by the direction of the registered holder thereof or such person’s attorney, lawfully constituted in writing, and, in the
      case of certificated shares, upon the surrender to the Corporation or its transfer agent or other designated agent of the certificate thereof, which shall be cancelled before a new certificate or uncertificated shares shall be issued.

     

    Section 6.03 Transfer Agents and Registrars. The Board of Directors may appoint, or authorize any officer
      or officers to appoint, one or more transfer agents and one or more registrars.

    
      
        

    

     

    Section 6.04 Lost, Stolen, or Destroyed Certificates. The Board of Directors or the Secretary may direct a
      new certificate or uncertificated shares to be issued in place of any certificate theretofore issued by the Corporation alleged to have been lost, stolen, or destroyed upon the making of an affidavit of that fact by the owner of the allegedly lost,
      stolen, or destroyed certificate. When authorizing such issue of a new certificate or uncertificated shares, the Board of Directors or the Secretary may, in its discretion and as a condition precedent to the issuance thereof, require the owner of the
      lost, stolen, or destroyed certificate, or the owner’s legal representative to give the Corporation a bond sufficient to indemnify it against any claim that may be made against the Corporation with respect to the certificate alleged to have been
      lost, stolen, or destroyed or the issuance of such new certificate or uncertificated shares.

     

    ARTICLE VII

      GENERAL PROVISIONS

     

    Section 7.01 Seal. The seal of the Corporation shall be in such form as shall be approved by the Board of
      Directors. The seal may be used by causing it or a facsimile thereof to be impressed or affixed or reproduced or otherwise, as may be prescribed by law or custom or by the Board of Directors.

     

    Section 7.02 Fiscal Year. The fiscal year of the Corporation shall be as fixed by the Board of Directors.
      In the absence of such resolution, the fiscal year of the Corporation shall be the calendar year beginning January 1 and ending December 31.

     

    Section 7.03 Checks, Notes, Drafts, Etc. All checks, notes, drafts, or other orders for the payment of
      money of the Corporation shall be signed, endorsed, or accepted in the name of the Corporation by such officer, officers, person, or persons as from time to time may be designated by the Board of Directors or by an officer or officers authorized by
      the Board of Directors to make such designation.

     

    Section 7.04 Conflict with Applicable Law or Certificate of Incorporation. These Bylaws are adopted
      subject to any applicable law and the Certificate of Incorporation. Whenever these Bylaws may conflict with any applicable law or the Certificate of Incorporation, such conflict shall be resolved in favor of such law or the Certificate of
      Incorporation.

     

    Section 7.05 Books and Records. Any records administered by or on behalf of the Corporation in the regular
      course of its business, including its stock ledger, books of account, and minute books, may be maintained on any information storage device, method, or one or more electronic networks or databases (including one or more distributed electronic
      networks or databases); provided that the records so kept can be converted into clearly legible paper form within a reasonable time, and, with respect to the stock ledger, the records so kept comply with Section 224 of the DGCL. The Corporation shall
      so convert any records so kept upon the request of any person entitled to inspect such records pursuant to applicable law.

     

    Section 7.06 Forum for Adjudication of Disputes. Unless the Corporation consents in writing in advance to
      the selection of an alternative forum, the Court of Chancery of the State of Delaware (or, if the Court of Chancery does not have jurisdiction, the federal district court for the District of Delaware) shall be the sole and exclusive forum for:

     

    (a) any derivative action or proceeding brought on behalf of the Corporation;

     

    (b) any action asserting a claim for breach of a fiduciary duty owed by any director, officer, employee, or agent of the Corporation to the Corporation or the
      Corporation’s stockholders;

     

    (c) any action asserting a claim arising pursuant to any provision of the DGCL, the Certificate of Incorporation, or these Bylaws; or

     

    (d) any action asserting a claim governed by the internal affairs doctrine;

    
      
        

    

     

    in each case, subject to said court having personal jurisdiction over the indispensable parties named as defendants therein and except for claims arising under the Securities Act of
      1933, as amended, the Exchange Act or other federal securities laws and rules and regulations promulgated thereunder for which there is exclusive federal or concurrent federal and state jurisdiction. If any action the subject matter of which is
      within the scope of this Section 7.06 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 be deemed to have consented to: (i) 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 this Section 7.06 (an “Enforcement Action”); and (ii) having service of process made upon such
      stockholder in any such Enforcement Action by service upon such stockholder’s counsel in the Foreign Action as agent for such stockholder. Any person or entity purchasing or otherwise acquiring any interest in shares of capital stock of the
      Corporation shall be deemed to have notice of and consented to the provisions of this Section 7.06.

     

    ARTICLE VIII

      AMENDMENTS

     

    A majority of the directors then in office shall have power to adopt, amend, alter or repeal the Bylaws. In addition, these Bylaws may be adopted, amended, altered or repealed by the
      stockholders, provided that, in addition to any affirmative vote of the holders of any particular class or series of capital stock of the Corporation required by
      applicable law or the Certificate of Incorporation, such adoption, amendment, alteration, or repeal shall be approved by the affirmative vote of the holders of at least a majority of the voting power of the shares of the then outstanding voting stock
      of the Corporation entitled to vote thereon, voting together as a single class; and, provided further, that any proposal by a stockholder to amend these Bylaws will be subject to the provisions of ARTICLE II
      of these Bylaws except as otherwise required by law. The fact that such power has been so conferred upon the Board of Directors will not divest the stockholders of the power, nor limit their power to adopt, amend, or repeal Bylaws.Exhibit 4.5

  

   

    

  
    

    

     

    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: September 23, 2020

    

    

    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).

     

    (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.”

    
      
        

      2

    

    
     

    (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.

     

    (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.

    
      
        

      4

    

     

    (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.

     

    (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.

    
      
        

      5

    

     

    (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.

     

    (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).

    
      
        

      6

    

     

    (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,

     

    (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;

    
      
        

      7

    

     

    (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.

     

    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.

    
      
        

      8

    

     

    (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.

     

    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.

    
      
        

      9

    

     

    (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.

     

    (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.

    
      
        

      11

    

     

    (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.

     

    (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.

    
      
        

      12

    

     

    (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)).

     

    (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)).

    
      
        

      13

    

     

    (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.

     

    (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.

    
      
        

      14

    

     

    (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).

    
      
        

      15

    

     

    (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.

     

    (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.

    
      
        

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    (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.

     

    (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.

    
      
        

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    (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.

     

    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).

    
      
        

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    (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.

    
      
        

      21

    

     

    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.

     

    (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.

    
      
        

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    (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.

     

    (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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